← CRYPTO 101
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- [00:00]
TiVo
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- [01:53]
Brendan
I'm doing great man. It's good to be back. Love doing the rundowns, man. There's a lot to talk about here today as there usually is during these events, but happy to be back, my friend.
- [02:05]
TiVo
Absolutely. I think we got to jump right off with the with the cold, cold card wallet hack I'll bring that up. It's. It's one of the bigger hacks for wallets. They're calling it the worst hardware wallet hack in bitcoin history. But there's some nuance to this that you need to understand. And it comes down to it really was the company's fault. And it's, you know, we don't want to see anybody lose money. It's obviously very sad when that happens. And it's one of those things where you got to do your research and, and find the right companies and do the right things. But any insight into this hack and the exploit that was really through the company, it wasn't a blockchain breach or an AI quantum threat. And you got to be careful because there's people that are going to run with this narrative and kind of take it down that rabbit hole, but it was simply just kind of, you know, I don't think it was a bad actor as a nefarious, like an sbf.
- [02:54]
Gen Digital Advertiser
Yeah.
- [02:54]
TiVo
But a bad actor nonetheless of not doing their customers due diligence.
- [03:01]
Brendan
Yeah, I think it was a bit more of carelessness as opposed to intentionality, if that makes sense. Maybe a little bit of corner cutting, maybe just a little bit of ignorance, you know, really not sure. But I think you made a good point here and that the main takeaway is not that wallets aren't safe. Bitcoin isn't safe. Blockchains aren't safe. That's a misunderstanding of what happened here. And you're right, it was on the fault of the company and the firmware. And this talks about it a little bit. It's actually a really good article you pulled up TiVo here from X. But it's, it's really due to the company and it comes down to how they, they created those seeds. Right. Is it purely random? Is it predictable? Well, as it says in this post, it's a, it's a firmware bug. So it's not to say, oh my gosh, all wallets are no longer safe. The blockchain itself, it's. Is not safe. That's not at all what happened here. And so that's a misunderstanding. I think you are going to see people run with that. It's a bit of a theme right now, and we'll have another post that we can kind of show to talk about this a little bit more. But the theme right now, and the cool thing that'll get clicks and attention and whatever is this idea that nothing's safe anymore. Right? Nothing safe. Blockchain not blockchain. The normal world AI is coming after you. Open AI has and. And ChatGPT has been able to go and breach security of companies. And Anthropic's doing this left and right. They're putting it in test environments and it's breaking out and it's hacking companies. All of a sudden there's this news that bitcoin's not safe and blockchains aren't safe. It's just the popular thing right now. And again, it's to get clicks. Now this did actually happen. It is super unfortunate, but again, it's not because bitcoin or the blockchain or wallets as a whole are no longer safe because of Quantum or AI or any of that bull crap. It's a misunderstanding of it. And so if you go to the next one that we had kind of talking about this, this was coming, I believe, from the BitGo CEO or one of the Bitgo executives and friend of
- [05:08]
TiVo
the friend of the show, Mike Belshi.
- [05:10]
Brendan
Yes, yes. And yeah, what he says here is he's like seeing all this get posted, and he was basically like, guys, I'll put up 100 bitcoin in a wallet. And he makes a good point because he says either Anthropic AI is terrible about building these sandboxes, or this is just really great marketing. Maybe it's both. But enough of like, oh, we've created this thing and it's hacking everywhere and nothing safe anymore and people feeding into this narrative. He's like, you know what? I will put 100 bitcoin in a wallet. Go get it. And that's a lot, right? You do the math. 100 Bitcoin at the current price. I think most people look at that and be like, if I have something that can truly hack these wallets, I'll go get that. And he's putting a target on its back. He's telling you the address, he's telling you how much is in there and if things are truly as good and great as it appears to be. Quotations, right? Well, there it's 100 Bitcoin reward if you have the capabilities. Now, obviously, I don't think he believes it's going where we don't believe it's going anywhere. It's just a test to say, hey, he's publicly willing to kind of put this out there because there's this narrative that nothing's safe. He's challenging it and saying it's perfectly safe. Let me give you all the information that you need to go and get access to this stuff, if you truly have the capabilities and it's just going to sit there, right? Nothing's going to happen to it. So I like this. You know, this is, I would say, genius marketing from friend of the show Bitgo over there. I like this. I saw this and I was like,
- [06:45]
TiVo
this is smart, unique way to try to take back the narrative. Because again, this snowballs. And especially when the mainstream media or the finance media and they don't have all the facts, or even sometimes when a story like this breaks, people don't even care to have all the facts. They just want to run with it, like, oh, hack bitcoin. This that I know there's big buzzwords that they can then bring to their show or their column or their article. And they don't have to be factually right because again, the game that, you know, I think we try to more go educational route and we try to have fun on the show and be entertaining. But a lot of the people that are going just for clicks, they get paid per click, they get paid per view. And so it doesn't truly matter whether it's factual or not. And so that's what we're trying to debunk here. That's what Bell, she's fighting against. That's what we try to do here on the platform is educate. And one of our education and tips and for everybody in the space is keeping your crypto safe. And so when something like this comes, we talk to the team. Obviously we have tons of free content, countless hours on YouTube and podcasting, but we do have some more in depth stuff behind the community that a lot of people are involved with as well. And so when we do these shows, we like to have a promo. And so for this, with this specific topic and situation happening, we have our ultimate guide to keeping your crypto safe. It's the new updated ultimate guide to keeping your crypto Safe. Today for just $3 during this promo for the show, check the description below on YouTube and on the podcast. Uh, we really, you know, we want everybody to keep their crypto safe. This is an ever changing landscape of, you know, kind of understanding what you do. If you're a hard, you know, hardwell, hard wallet or you're keeping on exchanges, we run down through the whole thing. Normally I think this is like a hundred dollar product, but when you see something like this, we want to make sure it gets into everybody's hands. So today on the show, $3, the new ultimate guide to keeping your crypto safe. Check the links below. As we move on in the show, uh, Brendan Blackrock continuing to build. Larry Fink putting his money where his mouth is, announcing a partnership with Ethereum on some tokenized money funds. And then you, you brought up as well that you saw Solana. So let's walk through both of those.
- [08:56]
Brendan
Yeah, this has been a big theme that we've talked about internally. If you guys are members over here or if you just watch the rundowns, a big theme has been tokenization. In fact, we have, you know, one of our groups, we just did a whole report on this with last Friday shout out to all of you who joined. But we've been talking a lot about how tokenization is, is one of the big areas to keep an eye out on here. And that is a big push, right? Robinhood's doing it. You see blackrock doing it. You see Nate crypto native players obviously being a part of this. There's people everywhere, right? Traditional finance, asset managers, banks or native crypto projects all doing this. And it's exploding in terms of growth over the last couple of years here, especially in the last year or so. But yeah, BlackRock here has launched two new tokenized money market funds. The first one that you have on the screen here is the 6.2 billion dollar black lot, BlackRock, excuse me, select treasury fund. And then we have a second one here which is BR SRV alongside it. So this is really cool. This is basically the Ethereum side of things. And then if we go over to the Solana one, which, which was just announced as well, they are filing here with the SEC to issue a tokenized fund of shares on Solana. So listen, I know there's a lot of Maxis out there who think everything's going to be Ethereum, everything's going to be Solana, everything's going to be one or the other over here. We like them both, right? We've had both of the teams on the show. We've had some of the, the key, most core Ethereum developers. We've had some of the earliest bitcoin developers. We've had the Solana team on countless times. We believe in all three. I don't think it has to be an all or nothing or one chain wins all scenario. And there's a reason why blackrock's looking at this and saying let's do this kind of thing on Ethereum and on Solana. And I don't really see either going anywhere. So it's a big news. I think what this does is it helps solidify the place of Solana and Ethereum, right? Because there's this fear of like, oh well, what if this all disappears? What if it goes anywhere? Guys, they want to be building this. You have the largest asset manager in the world spending billions of dollars or creating billions of dollars in these products. And I think that what that does is that helps solidifies the place that these assets sit as infrastructure for the long term. So I like this. If you're a Solana fan, it's good news. If you're an Ethereum fan, it's good news. If you have exposure to tokenization, it's probably really good news for you. So good stuff here.
- [11:29]
TiVo
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- [14:10]
Brendan
A fake email cost me my dream home. After I sent my personal information to a scammer, my AI agent wired thousands to an account I'd never seen.
- [14:18]
Gen Digital Advertiser
When billions of people feel unsafe, that's no longer a security problem, it's an economic one. At Gen, we're building the trust layer for a more fearless planet. With products and technologies from our global brands, Norton, Lifelock, Avast and Moneylion. See it in action@gendigital.com yeah, the building.
- [14:37]
TiVo
The building continues again. That's been the theme of this show. Before we move on, we want to give a shout out to the chat. A little active here on a Tuesday afternoon. You love to see that. Michael, formerly known as east coast lobster from Halifax, Nova Scotia. It's an international rundown. Today we've got Dr. Bob. Dr. Bob in California. I'll be heading out to California later this week. And then Joe, Joe B. From the Villages in Florida. Fellow Florida man. Love to see that. We got John in here as well. Let us know where where you're watching in from John and anybody else in the chat. We really appreciate everybody listening. Give us a thumbs up bottom right. If you're new, hit the subscribe button. We do this multiple times a week, have a lot of fun and keep you informed in the crypto markets. And one thing going on the crypto markets, it just you got to call a spade a spade, Brendan. And at face value you might not like this, but I think over time this is again, the bottoming process is stuff that we like to talk about is trading activity is declining and I think you can look at this from both sides. You're an active trader. So I'll tee this as a thought and get your opinion on it. When trading activity is declining like this, kind of seeing it of its lowest levels of the year is kind of a sign of. It could be. You could add this to the data of the bottoming process again, right? Because trading volume doesn't mean necessarily prices going up. You get huge spikes of trading volume when price is going down and the volatility because people want to sell and get out of their positions. So I kind of look at this as I added to the box of my bottoming process. We've done a lot of data over the last couple months of kind of ticking the box of hey, this is kind of something that looks like when we start the bottoming process and again nobody can pick the exact bottom of the tick but trading activities declining. Do you agree with that? Disagree. What are your thoughts?
- [16:21]
Brendan
Yeah, I would largely agree. I think that this is the kind of thing that you see in every bear cycle, right. It's not anything different as the bear market goes on, it makes sense that there's less traders, right. People are losing money, people are getting liquidated, etc. When the market's going up and you're in a euphoric bull market, there's always going to be more trading activity, more volume, probably more liquidity, and it's just naturally going to be less as the bear market goes on. But that's what help feeds into the final capitulation moment, right? Because people are giving up, they aren't trading. That's what capitulation is. And you see that at the bottom of every cycle pretty much. So this doesn't shock me. In fact, I would say that it somewhat motivates me to say, hey, personally, again, no one is a crystal ball, but I think that we are entering into what could be the final stages of this bear market. I think if you're going off past cycles, you would expect that to probably happen sometime around the fall of this year, maybe earlier, you know, maybe a little bit later, but roughly around then and then I think if you're looking at similarities, other similarities, whether it's technicals or fundamentals, or even just doing historical analysis, this is the kind of thing that you would expect to see at, like, the trough of a bear market before things actually do turn around. So I, I like that you brought that up because I'm sure a lot of people are going to look at this, they're going to go, oh, my gosh. It's another reason why I shouldn't be looking at crypto. I would actually flip it on its head here and say that this is a reason why you should start looking at crypto, especially if you see this start to flip and accelerate back to the upside. If you start seeing flows increasing from net negative to net positive, if you start seeing trading activity increasing, if you start seeing some of these cryptos breaking out to, like, new swing highs above some of those key moving averages, again, I would say really start to keep an eye on it, because it's once we get to this point that you look for that final point of capitulation. And it's when you least expect it, kind of when it's at its darkest, that the turnaround itself happens. And, you know, that's what makes it a turnaround. Right. Most people have given up, most people have started looking elsewhere, and there we go.
- [18:26]
TiVo
And you can't be in the darkness without extreme fear. And we kind of doing the, the classics, but we haven't really been checking in too much because it's just been what it is. We're in fear. And so you can't hit that dark before the dawn mentality without this extreme fear. And, and again, we've basically, I mean, I, this is one chart I'm trying to see if we've even broken out of fear all summer because again, beginning of June, we popped down, we were in the, you know, 10, we went down to the single digits, we went down to 8. And then looks like our high for the summer on this indicator was 33. So I'm not quite sure where 33 might land us. That might be. I think that might be fear still, honestly. So looks like we've had a summer of fear and extreme fear. And then again, something we haven't looked at in a while is the, again, trends. It's all the same stuff, right? Trading trends, extreme fear, it's. It's the lowest, you know, it's just the lowest right now. And so, you know, you could take that as one way as you can sell and, and go home, take your ball, go home as they say, or this is where you want to dive in and do the research and try to find the long term, you know, investments and places that you want to, you know, park your money and, and make it work for you and try to find out what the future of finance could be. And again, you can only make those decisions. We don't give personal financial advice, but you know, even the famous Warren Buffett, you know, says, you know, you want to buy when there's blood in the streets. Right. So it just definitely feels like one of those times. As we continue to try to do the research, find the bright spots which we've had. Right. The ride. We had a Robin Hood summer earlier in July that was a fun one. I know Brian and Joe are picking some winners. I know you and your trading course. You, you, you know, they've had some, some breakouts and playing, playing some momentum yourself. But also we've talked about, me and you, how you know me specifically. I'm not much of a momentum trader but I like to, you know, at this point in time I have the long term buys on. I'm not thinking about it. I'm just, you know, every, every week a little bit of bitcoin, a little bit of Ethereum is what I got going right now. And I don't, I don't even think about it.
- [20:29]
Brendan
Yeah, exactly. I have a saying over here where there's a time to step on the gas, there's a time to hit the brakes and then there's just a time to coast. And I think when things are the most uncertain, it's okay to coast a little bit or even hit the brakes. And then, you know, you just have to be able to identify like when things are hot, that's when you want to use the capital, that's when you want to step on the gas and that's when you want to do a lot of altcoin trading. It's something that we talk about a lot over here. I know inside the trading program and other stuff internally, that's something I really do try to hammer home is because when altcoin season is hot, it's hot, then it's really hot and it's really fast and it is the thing to trade. I think the mistake that a lot of people do, that we talk about is that a lot of people mistake and think, oh, I'm always going to step full gas pedal on altcoins at all stages of the market cycle. And that's just not really ideal. It's not optimal, it's not Always the best risk versus reward either. You know, again, there's a time where altcoins are hot and they're outperforming bitcoin and large caps and equities and stocks and everything else. And it's. It's being able to identify that and then stepping on the gas when altcoins are hot is like, that's where you just make stupid money. And by avoiding the downside, I would say that that's equally as important as well. So, yeah, I would agree. You know, right now, you know, there's absolutely still trades out there. We're in a bit more of a popcorn season. So you see select altcoins kind of popping off of the whole market kind of chills. And it's found a nice little bottom here since February, for the most part. But you have things chopping around a little bit while select altcoins pop off. I'd love to see that turnaround happen. And again, I think that's when you really start to see the potential come back.
- [22:11]
TiVo
Yeah. And again, while there's volatility, a lot of people selling, you know, they say retail, are selling during this. They're not the only ones. Michael Saylor continues to sell. I think it's a great use of verbiage here. Increased its USD reserve, but also that that's. How do you increase the USD reserve? You sell some bitcoin. So Sailor continues to sell some bitcoin, and his strategy here is buying Stretch, trying to get that back to par. So I guess we can. X has this cool new feature where it gives you the charts here. Let's see. I haven't played around with this yet, but as you can see, kind of the month or the week, I think it's like up 5, almost 5% on the week. 4.7 on this chart. There was a lot of people on the timeline I saw actually playing that trade. I saw somebody was getting trolled by the all in podcast for selling Micron and buying stretch at like 85 or something. Jason started trolling him and he just retweeted it the other day. I didn't save the link, but it was like, hey, Jason, how did this trade work out? You know, closing it out, you know, whatever. So people are playing the trade there. And it makes sense because, you know, in the sense that I'm not advocating for this. I'm not in this trade at all. Full disclosure. But it is interesting because Sailor is focusing his capital right now across the board to seemingly try to get stretched back to par or. And and let me, let me. Correct me if I'm wrong, Brendan, but like, basically just trying to keep the confidence in the product, the high dividend product, more so, you know, stacking the bitcoin so it feels like, you know, if it ever got down too far, it felt, I guess, Monday morning quarterback, it seemed like a decent enough trade.
- [23:51]
Brendan
Yeah, I think with this, you know, obviously. Listen, I've been a skeptic. They're trying so hard here to keep confidence in strategy and in stretch and all of this. They just. It's unfortunate that they're coming out again and selling even more here and it's gotten. I think they've started to get a decent amount of beef and the skeptics have come out because Michael Saylor himself had to issue a statement. And you had the CEO, I believe, of strategy go on CNBC or Bloomberg or one of those big shows, and he was even talking about this. And Michael Saylor basically came out with this big post saying, like, hey, guys, I've always said I was never going to sell bitcoin, but I never said strategy wasn't. And it's kind of a little bit of a change in the narrative of what he's saying. Is he, like, technically wrong? You know, maybe not, but I think a lot of people would feel just, again, a little bit misled there. He's saying, well, I would never sell bitcoin. I haven't sold any. But strategy is a business and we have to. And again, they're doing this to support a product which I have been a little bit of skeptic of. I understand why they have to do it right. They're trying to keep it afloat. They're trying to keep confidence. It would be really, really bad if it just blew up in their face. So they almost have to. But, you know, my stance, My stance on this is I would prefer stretch doesn't exist. I would prefer if they just use their old business model and they just try to continually purchase more bitcoin, use it as a Treasury. And yeah, that's, that's really where I stand. I think that they're trying to do too much here. They're, they're, you know, they're already below average cost. That's the issue I have, is that they've always had this marketing narrative, whether it was their actual policy or not. The marketing narrative was, you'll never have to. You should never sell your bitcoin. You'll never have to sell your bitcoin. We'll never have to sell our bitcoin. That's kind of been the rough marketing narrative that they've had. And then the issue now is that they're consistently selling. I mean we talked about like what, a month or so ago they were net negative and so now they're coming out and they're selling again and selling again. And, and this is all happening while they're below cost basis. So people are looking at it and they're saying, okay, well why should we be the ones buying bitcoin when you guys are continually selling? Like, what if we just mimic what you guys do? You guys are the big bitcoin company. Well, what if we're just going to go start selling our bitcoin too? It's right, you know, they should lead by example is I guess what I'm trying to say here. Again, I understand it's a business, they have to do some of this stuff, It's a necessity. But again, I think they should lead by example. And I don't think people like the idea that not only are they selling, but they're selling below cost basis. Right. I think their cost basis is like around 75,000, which they say doesn't matter too much, but it's in the red. Will it go back? I think it will, right? I think we're going to go well above 75k or whatever it is that we'll go back above 100k for Bitcoin. I'm not worried about that. It's just the concept of if they're the ones trying to lead by example, selling below cost basis, then what does that say to the average person who isn't like, you know, TiVo, they're not like you, they're not like me, they're not in this as much. I think that has has fed into some of the panic selling a little bit. So I would love to see the buy programs turn back on. I don't think it's a good look that you see them buying treasuries or getting in the treasuries or you know, whatever it is and raising cash and they're saying, oh, look at all this new cash that we have on our balance sheet. It's like, guys, we don't follow you for that. They've always been like anti all of that and pro bitcoin coin. So I think instead of raising, you know, their USD reserve like this says, yeah, strategy increases the USD reserve, the 250 million or buy 250 million also. Now they have 4 billion here and they're going to repurchase it's like, okay, well, let's use that. Let's go buy some bitcoin here. Let's turn it back on. Stop selling, start buying. I'm done with my rant. But listen, I have the same thoughts on this. I just, I really wish that they would just become more of a net buyer of bitcoin hold for the long term and create yields off of those products and not really stretch.
- [27:50]
TiVo
No, it's all great points and a good rant and just apologies for my end. I think I was doing some testing and it looks like my video is not coming in clear. I certainly hope my audio is. To everybody watching the live, give us a thumbs up if the audio is coming in clear. I apologize for the video. A little grainy today. And then as we move on to the next topic, just wanted to say sorry to the live watchers out there. We'll get it dialed in. Just a little Internet issue, I guess I wanted to touch base on all the negativity. Kind of seems to stem at least right now. Again, the narratives always change, but from the Clarity Act. So the Clarity act odds are at its lowest. It's, it's been in a while. And that's because August recess at this point looks like it's going to happen without a vote. And then when they come back, who's to say that we would even get a vote leading into the midterms, right? And I, I pushed, I, I promoted this episode. It's live. It's Chris Giancarlo, former CFTC chairman that Bryce sat down with at the conference we were at a couple weeks ago. The episode is live. So I think some of people, definitely the podcast listeners, have watched it, but if you haven't, you want to go back and listen to it. And I'm going to play a 90 second clip here. And he explains why, you know, in his mind, maybe the Clarity act does not matter and how crypto will move forward with or without the Clarity Act. And so those are the narratives that I find my most interesting right now. Especially again, anybody can say that. I could say that. Brandon Bryce or anybody could say that. But coming from a former CFTC chairman who still has the relationships at the SEC and the cftc, who knows these people personally who are in the positions now, he lays out the case. So let's, let's hear it from him.
- [29:28]
Chris Giancarlo
It doesn't matter as much as people think of anything. We've made too big of a deal. That's a hot take.
- [29:33]
Brendan
I like that.
- [29:33]
Chris Giancarlo
If crypto, if the Clarity act doesn't pass, the world goes on. The Internet changed the world in the last 30 years and there's no authorizing statute.
- [29:42]
TiVo
I didn't know that.
- [29:43]
Chris Giancarlo
Right. If we don't get a Clarity act, these innovations are going to happen anyway. Yeah. First of all, Wall street is all it. There's no turning back on what DTCC is doing, what Franklin Templeton is doing. All of this is going to go forward whether Clarity asks or not. This is not the way. And if the pendulum fully swings for two years from now and suddenly Elizabeth Warren is going to be present, she's not going to rip this out of the ground. It's going to be too built in. Yeah. In fact, her wing of the party has already moved on from anti crypto to anti AI. Yeah. The Luddites have found a new target for their desire to stop all progress. It's now AI Crypto is too ingrained. So all of this is going to happen. Builders out there keep building. If this doesn't pass, it's not the end of the world. Yeah, the world goes on. The third wave of the Internet is coming. It's here. It's not going back. We're already moving on. I. I hope it passes. I think there's some good things in it. One of the things that's in it.
- [30:41]
TiVo
So we'll pause it there because again, the summary was keep building. It's too ingrained. And the fuller episode dives into why he thinks that Bryce asked some great questions to kind of dive into that thought. Um, and it was, hey, whether this passes or not. And, and he kind of relayed back to, who's the SEC chair, who's the CFTC chair now? You know, they have programs that they, in their leadership positions that they can enact to keep this going. And then again, two years from now, his main point there, before I hand it off to you, Brendan, here, your thoughts is that this thing's going to be too ingrained. Like, you know, even if, like you said, if Liz Warren becomes president, it's too ingrained. You won't be able to unravel it. It's like unraveling the Internet. Right. How could we roll back the Internet today? It's just not possible with how we live.
- [31:25]
Brendan
Yeah, I think it is very much like that. Right. It's once it's there and once the infrastructure there is. There it is. You're economically shooting yourself in the foot. I was going to say it's economic suicide. Maybe that's like, bold. But if you have all These big financial institutions with billions of dollars tied up in money and clients, it's like, all right, where are you going to make all the clients mad? Are you going to make all the banks mad? Are you going to make all the institutional, the asset managers mad? Are you going to just, like, piss off everyone, like the big institutions with all the money and the average people who have their money tied up in this? And you're going to hurt both of them. It's just, it's not only is it like stupid from a financial standpoint, but it's really, really stupid from, like a political standpoint. It's like, let's piss off all the people who matter the most. If you're going to go rip it out of the ground after it's already there now, it's one thing to prevent it before it's done. It's another thing to have it already done and everything settled in and people using it and the money have been spent and then trying to go and get rid of it. So I completely would agree with him there. I think that he's spot on. Couldn't have said it better myself.
- [32:33]
TiVo
Fantastic. And then we'll wrap out. If. If our bottoming data, if the data that we presented to you over the last couple months here doesn't show you that we think we're heading into the bottom, there is certainly one data point that everyone can agree on and it's Jim Cramer selling his bitcoin or saying that he's going to go sell all his bitcoin. It was something. Here's the one. Here's the tweet. Jim Cramer said he's reportedly selling all his bitcoin point per coin desk. He mentioned it a couple times on his show as well. And then the entire crypto community is just saying, like, hey, we're back. I can't play it because there's music attached to it. But everybody remembers that scene from the Hangover where they're all just screaming in the car that they're back again. That's my last data point for the day. If I can't convince you that Fear and Greed Index has been in fear all summer. The volume of trading's going down. Sailor selling his bitcoin and it's not rocking. Rocketing. The price of bitcoin lower and searches and trends are, you know, at the year low as well. I got one more for you. It's. It's Jim Kramer selling his bitcoin for the reverse Kramer play to the upside.
- [33:50]
Brendan
Yeah, it's. When I saw that it put a big old smile on my face because of that whole inverse Kramer theory that we have. TiVo and we'll see, right? Fingers crossed. The inverse Kramer index is up, I think. Could be wrong. I think it outperformed Nancy Pelosi last year. Or it was right up there with it. It was like really, really good performance. Historically. It is obviously love dream Kramer. No, no shade thrown at him. But this is kind of a meme. It's like, hey, whatever he says, just like do the opposite of. Especially when it's these big, big like notable events like sell everything or go all in on this or something like that. It tends to be a good turnaround. And I think what this does is it feeds into the whole capitulation story that we've said, right? When there's max fear, max pain, everyone gives up, they capitulate, they throw in the towel and then the bottom happens. And what better sign of this stuff happening than more stuff like this, right? We've shown this before where you need to have a blow up event. We saw that happen, right, Just last week. We talked about it with Bitmex and all those other places that went under. And then you go and you look at the rest of them that have all blown up and then you look at, you know, crypto trading and volume falling and activity falling. And then Jim Cramer saying sell everything. And it's like that is what the full max pain capitulation looks like before turnaround happens. So not saying it's already happened, but again, it's something I'm actively looking for here. If not right now, then hopefully in the next few months. I would really be looking for that. So maybe we get one more sweep of the lows. You know, maybe that's possible. But I'll tell you what, I'm still looking for it. Nonetheless.
- [35:32]
TiVo
It's a great point to wrap up on as we have over 100 live viewers this show. So we really appreciate everybody tuning in on a Tuesday. If you missed the beginning, definitely go back once we we end here and watch the top. You want to make sure you hear about the wallet hack that was going on. And again, for this show only, we're running a promo for the new ultimate guide to keeping your crypto safe. Again, the hack drained over. At this point, I think it's over $120 million gone overnight. And you know, as we think the bottoming process is happening, the next bull run is lining up. So you got to update what you know to keep your crypto safe. Check the link below it's $3 promo. I mean I think this thing goes traditionally for a hundred dollars, so $3 promo the new ultimate guide to keeping your crypto safe. Check it out the description Support the show because we love doing this for free. The least you can do if you're a returning member. Give us a thumbs up. Helps us grow the show. And if you're new bottom right, hit the logo to subscribe. We really appreciate everybody tuning in on Tuesday. We got more. Let's see if the podcast is going out. I got another Bryce interview going out this week and we'll be back again on Friday for another rundown. The content keeps coming. The crypto train does not stop. But that's all for today. Thanks for tuning in. That's all for now. Goodbye everybody. I cashed out my entire 401k thinking
- [37:01]
Chris Giancarlo
someone stole my identity.
- [37:03]
Brendan
A fake email cost me my dream home. After I sent my personal information to a scammer, my AI agent wired thousands to an account I'd never seen.
- [37:11]
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- [38:29]
TiVo
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