The Wolf Of All Streets - Bitcoin Dump Or Pump? Here Is What To Expect Ahead Of The Halving

Starting point is 00:00:00 The question on everyone's mind is Bitcoin consolidates and is too boring for the spastic traders in this community that need price to go up every single day. Is Bitcoin about to drop or go up? Where are we in the halving cycle since things have been a bit different this time? What can we expect both before and after the halving? Since my crystal ball is broken and so is everybody else's, I'm going to at least have a discussion with one of my favorite guests who has been through arguably more of these Bitcoin and crypto cycles than anyone else, Simon Dixon. We're going to talk it through, also review everything else that's going on in the markets and the Bitcoin world. Let's go. Let's go. What is up, everybody? I'm Scott Melchor, also known as the Wolf of All Streets.

Starting point is 00:00:59 Before we get started, please subscribe to the channel. Hit that like button. Now, usually on Thursdays, we have Dan, the chart man at 930, but he was actually emailed us and said, man, I'm trading so much right now. It's so much, such large positions at the moment that I can't come talk to you when the market is opening. And I have to respect that because the guy's actually a real trader. So today it's just myself and Simon. I'm going to go ahead and bring him on right now. Simon, continue to have the most epic background

Starting point is 00:01:31 that makes me extremely jealous every time we speak, the Isle of Man. Yeah, yeah. Absolutely incredible. Yeah, and it's not a green screen. No, it's real. I'll tell you, it's epic and it makes me jealous every single time. So listen, you see the title, Bitcoin Pumperdump. You've been through a lot of cycles in general. First of all, maybe we should just set the table. Do you believe in the four-year cycle generally? Absolutely. The four-year cycle works like clockwork. Each cycle, we have a slightly different flavor. But if you just take

Starting point is 00:02:07 the... I'm not the trading guy. I'm the fundamental guy. And I invest into narratives and stories. And I would say, actually, of all the cycles, having been through them all, this one... When I think about Bitcoin, I think about Bitcoin as a digital hard sound money technology play, you know, turning gold into digital hard sound money. But there's also that obviously has a big macro play. And that also has when there's a macro play and a hard money play, there's also a geopolitical play. And so Bitcoin touches upon all of those. And I'd say between 2020 and 2024, even if we did a quick review of some of the things that have happened in this halving cycle, and this was the one where it reached all

Starting point is 00:02:55 new time highs before the actual halving event, which we all know is new, that hasn't happened before. But if you looked at all those different narratives and look between 2020 and 2024, it has been probably the most wild and impactful cycle of them all. And I think the 24 to 28 one will be even more wild and more impactful. I was going to say, isn't it natural that as the asset gains more attention, becomes larger, market cap increases, becomes part of the Wall Street cycle, attracts bad actors. Let's be honest that each cycle is going to just become exponentially more insane and slightly different than the others. It's very hard to compare the first four-year cycle to this one because it's such a fundamentally different asset class.

Starting point is 00:03:41 It's not as nascent, not as tiny, more market participants. But I agree. I think the next one will be insane, but hopefully not with the fraud. I mean, you and I both suffered and spent probably more of our life energy than we would have ever liked or anticipated dealing with that fraud personally as both creditors and just being in the industry over the last time, I hope we don't get a rerun of that. Well, I'm sure we'll have more sophisticated versions because in every cycle, the scams and issues are just different flavors of previous scams and more sophisticated with more players.

Starting point is 00:04:22 And Bitcoin just fights through them all. It's kind of the anti-fragile nature of Bitcoin that you need all of this chaos around it just so Bitcoin can prove that the chaos in the end of the day doesn't really impact it long term. Certainly impacts it short term, certainly gives people an opportunity to manipulate the market. But, you know, I mean, just look at those, you know, the three narratives of what we had during this cycle. If we think about just Bitcoin as the market that we always knew, you know, we started, you know, and then we introduced stock market and all those different things. But, you know, we started 2020 with an epic bull market based upon everybody leveraging and leveraging up

Starting point is 00:05:07 and just proving that you can actually create on a centralized level fractional reserve Bitcoin because a lot of these companies were, they had more Bitcoin liabilities than Bitcoin they actually held and they were making up fake yields. And so that drove a competitive market with unregulated companies that were just either going from point blank fraud to complete lies, or just due to lending to the wrong people. And then there was systemic risk where a hedge fund like Three Hours Capital kind of had a massive amount of leverage that then had impact on everybody else. Or you had somebody trying to play central banker like Do Kwon, who created the

Starting point is 00:05:53 Terra Luna decentralized central bank that turned out that it was just a managed fund that then as soon as Bitcoin crashes, that has its knock on effect on all the hedge funds and then the lending companies and then the exchanges and then the banks that were servicing those exchanges like Silvergate and everything. And so we went through that full cycle through to a regulatory crackdown, the regulator saying, right, we'll take our billions out of here. We'll take billions out of Binance. And you now reinvent yourself and either get out of the US or come play with us in the US as a regulated institution. That happened. That was all within the last four years. When we ended with SBF going to prison for 25 years. Well, actually, I have a question. You mentioned Doquan and

Starting point is 00:06:45 Tara Luna. Do you think that he's an actual criminal or do you think that it was hubris? Yeah, look, I mean, this is what we get to learn. We get to compare the level of criminality. So firstly, I get involved when there's a restructuring or in the Celsius bankruptcy. I spent two years of my life just trying to get a better outcome for creditors and fight the system. But once it comes to whether someone should have their freedom taken away or go into prison or anything, it's just not really my interest at that stage. But then you look at what we've seen over the years.

Starting point is 00:07:22 You had Russ Ulbrich that is spending the rest of his life in prison. We had Madoff out of our industry that got like 175 years or whatever it is. And then you have these different levels of criminality. So obviously SBF engaged in bribing politicians, doing what traditional banks do. But also the outright fraud of having a hedge fund that could leverage client money, even though that was completely fraudulent. Illegal. Yeah. And so for him, he's getting 25 years and then you go to Do Kwon, whatever he's going to get. It felt like he was just arrogant, hubris, deluded. I'm not sure whether

Starting point is 00:08:07 he deliberately knew that he was engaging in something that could blow up until it actually did blow up. So does that deserve a higher punishment? I mean, across the shit coin and the stable coin, it was like 60 billion or something at one stage. Right. But yeah, I guess the question is, are you allowed to fail if you have a bad idea? And is it just that? He was empowered by the biggest names in the space, obviously backing him. I just always got the impression that he thought he was the smartest guy in the room. Nobody could question him. And he just ended up being wrong. But maybe something will come out at trial that completely disproves that. I'm not saying i'm a fan or anything it just felt like more than machinsky or sbf who were literally actively committing fraud knowingly on purpose seems like maybe

Starting point is 00:08:54 jokwon was just way too big for his britches and had a terrible idea that failed and caused a hell of a lot of mayhem yeah and then you know you've got the the the mishinsky level which is just point blank lied to pensioners in order to get them to wipe out their pension put it in which is made off and that's made off thing yeah so what do you think happens to mishinsky um i've got a feeling he's going to get less than sbf um you know i think i think it's maybe i mean he's up for the same so they're both up for they were both up for 115 years, um, seven different counts, but SBF had like a few more, but they were dropped because they didn't want to look at all the political stuff.

Starting point is 00:09:34 Uh, cause that might expose the politicians just like it does in banking. Um, and so, but yeah, I've, I've got a feeling it's going to be less, even though I think the crime was worse. Um, but we shall see. He actually hired the same lawyer as SBF. And because there was a conflict place, he managed to delay it till January 2025. Well, I think SBF at least put a bow on it, I think, for the media and the mainstream. I very seriously doubt that the Mashinsky trial is going to get much attention. Doquan's trial actually was happening, even though

Starting point is 00:10:08 he's in Montenegro, in the same building as the SBF sentencing at the same time, and nobody was even reporting on it. So I think that's a good thing, right? I think at this point, we would rather them all fizzle away quietly into the background and focus on the positives. So let's talk about the positives. We're talking about the cycle. I think we can all agree that the reason we're so far ahead as far as hitting a new all-time high ahead of the halving is these ETFs, right? We've seen just massive success. I know people hate the hyperbole, but when you're talking about $55 billion market cap, larger than some gold ETFs. It's incredible how far it's come and how fast. And we're still seeing net inflows on most days outside of outflows.

Starting point is 00:10:51 So do you think that that continues to sort of break us ahead of the cycle? Do you think there's people who say it'll be a shorter cycle? I don't really understand the mentality behind that. I think we'll see all the same insanity, mayhem and stupidity we're already seeing in meme coins. Right. So, I mean, do you think that the ETFs fundamentally change anything more than other events in previous cycles? Yeah. So I think the stock market in general will rally us through to levels we've never seen before personally in terms of Bitcoin pricing throughout this whole bull market. I think we're in bull market territory, even though there's a lot of short term fear and FUD. To me, we're definitely in that bull market. And then let's look at the stock market story. When does the stock market story run out of steam? So let's look at 2020. We started the cycle just after halving.

Starting point is 00:11:41 We ended up with these institutional grade public Bitcoin miners that listed on NASDAQ, Canadian Stock Exchange. They went into multi-billion dollar and created an incredible amount of volatility. You think Bitcoin's volatile. Look at the Bitcoin mining stocks. They learned their lesson. The name of the game was to leverage your stock to use the debt markets to be able to acquire more equipment. And as long as you had a belief that it was going to go up to

Starting point is 00:12:10 100K or beyond, they all ended up over leveraged and they ended up in either bankruptcies or surviving. And then we had a couple, three to four of battle-tested Bitcoin miners. At the same time, if we go back to 2020, we had large institutions like Facebook just drop their projects of trying to do stable coins and all those types of things, sold the project to another public company, which was Silvergate. Silvergate suffered from the macro trends, which was more of the geopolitical and macro stuff and interest rates and maturity mismatches and mortgage-backed securities and all that type of stuff. Then we had this big story of, are we or are we not going to get a Bitcoin ETF? And it became very apparent as soon as BlackRock entered the game that that was going to get a Bitcoin ETF. And it became very apparent as soon as BlackRock entered the game

Starting point is 00:13:05 that that was going to happen, that that was imminent because BlackRock always wins. And then we had the most successful Bitcoin mining launch in history. I'm sorry, Bitcoin mining launch, the most successful ETF launch to use Larry Fink's phrase. So you had this incredibly beat all of our expectations. We were all trying to be a bit more conservative. And it turns out that, you know, we've very,

Starting point is 00:13:33 we're still at the very beginning of all the volume of all the institutions that still need Bitcoin in their portfolio because the compliance lag. So, you know, we had that. And we also, so we had the ETFs,

Starting point is 00:13:48 we had the Bitcoin mining stocks, we had the bank side. And then you look at the other side of the story. So is that going to continue through? I think there's a lot more volume still to go in those Bitcoin ETFs, but you would expect them to kind of lagger off. What else did we have on the stock market? Well, we had corporate treasury from MicroStrategy

Starting point is 00:14:12 teaching the world. Not just them. Exactly. And then you had Tesla as well. Yeah, of course. I mean, you talk about it. That was going to be my next point. So I hate to interrupt, but you have MicroStrategy obviously becoming a meaningful holder of Bitcoin over 1% of the total supply. Tether added nearly 8.9K Bitcoin to holdings in first quarter. This is $75,000 total, $5 billion. They're never selling. I mean, most likely. It's incredible, you know, sort of the adoption. And if we start to see others follow this roadmap, forget even the ETF, we're going to have so much supply just being held by people who are never willing to sell, which we see increase

Starting point is 00:14:58 every single cycle. There's just not that much Bitcoin. There's not that much float. Yeah. So I think of MicroStrategy and Tether. Think of MicroStrategy on the public market, Tether on the private market. So, you know, Tether is slowly building up one of the largest mining operations outside of the US. You know, Michael Saylor's showing that you can use corporate leverage to create incredibly interesting products like corporate debt that converts into equity at premiums. And people are willing to, you know, you can get real low cost of capital in order to accumulate that Bitcoin and end up owning over 1% of the entire supply.

Starting point is 00:15:43 Tether, on the other hand, has really, I'd say these people are the ones that are playing the macro trend. So if you think about what Tether's doing, Tether said, right, banking is screwed. It's fractional reserve banking. Let's give everyone full reserve banking. Let's just back it by treasuries, by US government debt. And let's make it as easy as sending an email in order to send dollars around the world. There's a lot of people that want that. And so they're willing to give Tether free capital for that stablecoin. And so they're getting their free capital. Then we have the whole inflation cycle, the macro cycle. So if you think as a reaction to

Starting point is 00:16:27 the COVID, money printing, and then we had the Russian invasion that led to these supply and demand shocks, that led to a rapid increase in interest rates in order to cartel inflation. And now you can lend to the US government at approximately 5% in your treasuries. And so Tether said, right, well, we'll give you a stable coin. We'll invest it in the US government. And then because we're getting that 5% clip, we'll use the US government's interest, the fact that they're in exponential debt, in order to get a free Bitcoin position. So they're buying with their excess profits Bitcoin, which they'll probably never sell, and building out one of the larger mining operations in the private market so that

Starting point is 00:17:16 they can get newly accumulated, you know, new Bitcoins off their cart of those ones. And just created a situation where, you know where they just in Q1 this year, was it like 8,500 Bitcoin they purchased as a result of the excessive government debt that they're willing to pay on the macro play. So it's just an incredible thing. You make full reserve banking instead of fractional reserve banking, the utility to people to send dollars or full reserve banking. Then you even have market pricing rather than FD a bailout, the price just de-pegged. And then the market started pricing on the likelihood of them being fully backed or not. That's an incredible efficiency. And then we ended in the public markets with PayPal joining the game and saying, yeah, we'd

Starting point is 00:18:16 like to do some of that. We'll just take all of our dollars. And anyone that wants to convert that into a stable coin, we'll try and do the same. So we have a number of actually new stable coins hitting the market, right? VanEck announced that they're launching a stable coin, which we backed by cash, US treasuries, and I believe overnight reverse repo. That's their strategy. We obviously have Athena, which has caused a whole lot of controversy. They're calling it a synthetic dollar, but basically a yield bearing synthetic dollar based on the cash and carry trade of Ethereum. So we are already seeing a lot of other stable coins in the market of varying, I guess, risk. Have you looked into any of them

Starting point is 00:18:57 or any of them concerning you that we have another UST type situation? Yeah, I mean, there is still the run on the stable coin is still a systemic event that we haven't seen, you know, yet other than in the Binance side when they had regulatory, but they were backed by an exchange with Voss Capital. But the story of what happens, and this goes into some of the macro trends, you know, what happened in 2023 with the US bank run crisis can still happen in a stable coin. And that can destabilize. And so that's why there's going to be a lot of regulations. And it's why the SEC wants it in the case of the US,

Starting point is 00:19:37 but instead the OCC and the Fed are looking to regulate it because it's actually going to become a monetary policy tool into the future, particularly with central bank digital currencies copying that model as well. So the risk is still there that if for any reason everybody wants to convert their tether into dollars, then there is a maturity mismatch where it's all invested in treasuries. And if there is a macro trend or risk in the banking system, then they could end up having to sell off those treasuries at a discount, which would then de-peg the price depending on whether they're fully backed or not backed.

Starting point is 00:20:17 So the risk, even though it is full reserve banking, it still is subject to the geopolitical and the US government and what happens there and what happens in the fractional reserve banking system. So it's a significant improvement, but I much prefer to have market pricing rather than FDIC Ponzi schemes that create banking failures and all the issues and all the change in empires. And that really brings us to what is going to drive the next cycle. Well, I think there's going to be a lot of people that want to do the Bitcoin story of self-custody. Every time you learn that the bank, you need your own money, that story will continue and drive new demand. Even in Hong Kong, they're making their ETFs convertible in kind

Starting point is 00:21:08 so you can onboard through a regulated ETF and offboard into Bitcoin. That's an interesting story. I have another one for you. I have another one for you that happened 10 minutes ago, and I just got sent this tweet. You're going to find this interesting. From Ripple, the stablecoin market is booming around $150 billion today and projected to soar past $2.8 trillion by 2028. There's a clear demand for trust, stability, and utility. That's why later

Starting point is 00:21:34 this year, we're launching a stablecoin pegged one-to-one USD on the XRP, Ledger, and Ethereum. This is at 9.09 AM. So 16 minutes ago, Ripple saying they are launching a peg stablecoin, which makes me wonder why you would ever need XRP again, if they're going to disrupt their own theoretical business with a stablecoin. Yeah, actually, it's the perfect exit scam model, because Ripple, the company, started building technology to disrupt Swift. This is the technology to disrupt Swift. But they had to shoehorn a token to make everyone believe that the tokens needed in this in this whole technology play.

Starting point is 00:22:18 And now they end up with the technology that they're that they're meant to have, which is, you know, a stable coin with maybe cheaper, faster, whatever play they're going through. And they try to create the disruption in Swift, but now they're in the central bank digital currency market. But this is the exact market they probably should go down. But what you find is that they always try and shoehorn the token in because everyone thinks that that's good for the token. But every bank and financial institution that wants to use Ripple's technology doesn't want to use the token. They just want the technology. But obviously, it's one of the largest assets on their balance sheet. So most of their revenue comes from selling tokens to others.

Starting point is 00:23:02 And so... What's the point of XRP now? I don't... Guys, I know we're going to get destroyed. There the point of XRP now? I don't like I'm not guys, I know we're going to get destroyed. There'll be some XRP people in here. I legitimately am asking if XRP launches a stable coin, what's the ripple, right? And we know that listen, ripple could be a massively successful company and XRP could effectively just continue to bleed. The token does not accrue value from Ripple's company necessarily. But the point of XRP was always faster, cheaper payments, correct? I mean, we already knew stable coins had replaced that in general, but launching their own stable coin to me, my first take live here is that

Starting point is 00:23:38 they're effectively saying XRP is useless. Yeah, kind of. But if they figure out like an Ethereum type of story where the more utility and you have to have XRP in order to pay transactions, whatever they figure out. Yeah, so that's exactly right. They're going to effectively say, listen, XRP is a utility token for our layer one blockchain. And they even said they're going to launch it on Ethereum as well. So I mean, the stablecoin world, I think is absolutely insane. You said before, I talked about Athena,

Starting point is 00:24:11 which will be backed by the cash and carry trade, right? We know that that trade is effectively on GPTC, what destroyed the entire market last time, right? Three arrows capital, block five, they were all trading that massive premium. It went to a discount while they were still locked. They got massively wiped out, effectively wiped out the whole market. At this very moment, hedge funds hold record bearish Bitcoin bet data shows. So CME futures showing the largest net short in history. A percentage of that obviously is people who are just betting against Bitcoin. But I would say the bulk of it is the carry trade, right? Because futures are in contango, meaning that they're priced higher in the future contracts, so you can effectively buy spot Bitcoin. And then as a hedge, you short the futures and you make a yield in between. And if Bitcoin drops, you get the hedge of the short. But I mean, zero hedge,

Starting point is 00:24:59 hedge fund Bitcoin net total futures, like the record short, this is going to be fun, right? To me, this screams, maybe I'm an optimist, but to me, this screams short squeeze, like very major fuel for a price rise more than it screams contagion. Yeah. So just welcome to the new institutional short-term manipulation in order to accumulate a long-term position. In the old world we lived in, this is the equivalent of a whale sending all of their Bitcoin to Coinbase, spooking the market, getting a bunch of people to say, this person's selling, and then you end up buying in the long-term, but you make a shit ton of money on the short-term trade. So now we've got all the institutions, you've got the hedge

Starting point is 00:25:43 funds that will be doing it with the longer- term investors that will be accumulating into it. So I try and avoid all these things just as I did previously, because it just creates opportunities for you to dollar cost average at a better price. And that's because really the belief of, well, what's going to be driving the next trend? And so the next cycle, I believe, while we have the custody story, we have the stock market story. I think it's the geopolitical story. I think Bitcoin at this stage with so many different types of funds that are going to be owning it over the next few years. I think the geopolitical play that we saw in the last cycle, so obviously President Bekele joined the cycle. He's buying a Bitcoin every day for his country. He said no to the IMF.

Starting point is 00:26:37 Eventually, if the cycle plays out, the Bitcoin dollar cost average of buying a Bitcoin every day for the country wipes out the IMF debt. Other countries watch that and say, wow, this country had $26 billion debt. They bought a Bitcoin every day and they now have a Bitcoin hodl position that's worth more than their entire country's sovereign debt. That's one of the stories. the other is obviously war time and so if you look at historical wars in in world war one germany had to um pay all of the debts of the the winning allies um they had to settle in gold and they had a hyperinflation recycle because they printed their currency in order to try and accumulate gold um After World War II, the American system set up the world order that exists today,

Starting point is 00:27:30 where their currency is backed by gold, and all the other currencies can trade between it. And then that led to non-backing of gold. But after the next monetary system, if we enter into another World War III, whether that be a proxy war or an actual declared one, I think that eventually Bitcoin probably plays into that story. Because why would you try and settle in gold when you could settle in Bitcoin, lots of financial institutions, sovereign countries will do it, and also strategic mining. So at

Starting point is 00:28:04 the moment, you know know china used to be the largest miner when they decided to make a geopolitical play america ended up getting all that mining mining behind it but at the same time to keep that geopolitically safe russia's also mining iran is also mining and you will find strategic sovereign miners and sovereign accumulators and then you've got the whole cbdc ai thing and bitcoin plays into all of those as a force against cbdc's and against control by artificial intelligence we got it all to come it's only just getting started yeah i laugh because china i think if you look now, still has over 20% of the mining hash rate or something, but I know it was over 50% at the time, but they're very quietly

Starting point is 00:28:50 back and you can see what's happening in Hong Kong, which I think we all know is happening in China. I just happened to also giggle because I looked at the XRP chart. The market likes it. You see this is like the biggest volume we've seen on a few minutes in XRP in an extremely long time. So very surprised, actually, that that's jumping up. I see people say, I'm confused. You do not get it. The stable coin is based on the XRP ledger. Yes, I understand that it could be good once again for the ledger itself or for the ripple. But the promise of XRP was a cheaper, faster payment method. And that's what a stable coin on XRP would theoretically be.

Starting point is 00:29:26 And there's always been a question as to whether people want to send, this applies to Bitcoin as well, whether people want to send a volatile asset as payment. Because if it's going to be pegged, if you're trying to send someone a fixed dollar amount and it arrives as a different fixed dollar amount, that can be largely problematic for accounting right in either direction yeah you know well um you know we've got to thank ripple uh even some of the frauds and crazy things and companies you might not be so keen on um or the tokens you might not be keen on well they produce clarity so they had a budget to fight the sec and figure out what the outcome of that is coin Coinbase did the same. And even Barry Silbert and GBTC, the reason we got our ETFs in the end of it with all the fraud

Starting point is 00:30:10 was simply because they took that to court. And when they realized that the judge was going to push back against the SEC and said, approve this thing, then they had to approve BlackRock, Fidelity and Van Eyck and everybody else. So even, you know, and this is kind of the anti-fragile nature of Bitcoin that even when you have all these centralized companies and Bitcoin banks and public markets, in the end, Bitcoin, Bitcoin just doesn't change. It just fights through and it just becomes stronger and stronger

Starting point is 00:30:45 and gives more and more reasons for more and more people, companies, countries, and central banks to want to buy it. Hard to argue with any of that, Simon. Always appreciate your time. Thank you so much. I'm sure I'll see you on spaces probably in like 40 minutes or something since we seem to be there every day. But always appreciate the insight and I'm really looking forward to the positive mayhem that this cycle will hopefully have for us. And none of the negative stuff, hopefully, from last time. Oh, no, there'll be some negative. I'll see you on Twitter SpaceCorp because then you'd have no content. That's right. I'm sure we'll be talking about the XRP stable coins.

Starting point is 00:31:19 Guys, follow Simon, Simon Dixon, Twit. Absolutely an incredible voice for our industry. He's helped tons of people, especially through these bankruptcies. And we're very, very lucky to have him. Thanks, Simon. Thank you. All right, guys. As I said, we do not have the chart man Dan today, sadly,

Starting point is 00:31:37 because Bitcoin trading now back over $67,000. We get excited now about moves from $66,000 to $67,000, even though we all know that we're just chopping in a range. I'm definitely impressed by this XRP price. Actually, I mean, that's wild. That's wild. Look at that volume. When do we have volume? We haven't had a volume candle. I guess back in March at some point, there was a... Oh, that's March. Yeah. Not so long ago. That was a bigger volume candle, but this hour hasn't even played out yet. I don't even remember that XRP pump. That's how out of touch I've been.

Starting point is 00:32:13 But yeah, I mean, if we jump to Bitcoin, looking pretty decent here on low time frames for a nice breakout. That's the hourly. Four hour back above the track line getting a green dot again finally daily yeah i always freeze when i use training alpha because it uh uses so much apparently of uh my my browser's memory ram but yeah looking looking pretty decent that wasn't my intention to talk about though what i do want to talk to you guys about is Lumarin, our amazing sponsor of the day. You guys have probably seen me also talking about them in my newsletter. As I told you, one of my favorite

Starting point is 00:32:55 people, Matthew Rozak, is a partner in this with Brian, who I'm going to have on the podcast, hopefully really, really soon. When you get these guys talking about the future of Bitcoin, the future of crypto, you will not want to stop. I can literally listen to these guys talk for hours. But Lumerin really, really bridging the gap here with what's happening in AI, what's happening in crypto, and more importantly, the narratives about decentralization. All the problematic things happening with centralized protocols handling our transactions and handling data streams and handling AI are slowly being solved here. I mean, if you guys aren't aware what it is, I'll just read you that. Lumer is a decentralized product protocol for routing web three data

Starting point is 00:33:38 streams, allowing users to own transfer and exchange data on blockchain networks through smart contracts. Lumer stands at the forefront of decentralized technology, ready to pioneer the next wave of digital innovation. I'm showing you one example here, which is their Bitcoin mining hash rate marketplace. But here you go. Other examples of data streams include Bitcoin mining hash rate and AI compute power. Here's the kicker. This means that through Lumerand, you could acquire these data streams and mine Bitcoin or run an AI agent directly from your Web3 wallet in a completely decentralized, secure, and private manner. In fact, the Lumarin Hashpower Marketplace, which I'm showing you right here, is already live.

Starting point is 00:34:17 You can click to the marketplace over here. Absolutely incredible what this allows you to do. And it allows you to do it from your own wallet, completely decentralized. If we care about decentralization, if we care about the future of this space not being centralized and not being controlled by third parties, and even if you just want to mine and don't have access to the electricity and the mining power, you can buy the hash rate and effectively do it here yourself. Really, really cool. And I'm telling you, this is backed by the biggest builders in this space who have done absolutely impressive, mind-blowing things. Check it out. Jeff hates when we say there's insane demand for the ETFs, by the way. But whatever.

Starting point is 00:34:58 Kyle says, please no more meme talk on spaces. I don't know, man. It seems to be what happens. You see that I am pretty aggressive about it, but hey. Oh, man. I don't know. That's all I got for you, though, today. Tomorrow, we're going to be delayed for the show. So I'm going to do it. We just have a scheduling conflict. So probably 9.45 instead of 9 a.m., we're going to do the Friday 5. You guys still show up? Probably around 9.45. 9.30, 9 945, I think is the plan, something like that. And there will be no market Mavericks this afternoon. But other than that, I will see you people tomorrow. Please check out Lerner and please follow Simon. Yet another day of talking crypto to death. I love beating this dead horse. See you guys tomorrow. Bye.

The Wolf Of All Streets - Bitcoin Dump Or Pump? Here Is What To Expect Ahead Of The Halving

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