← The Wolf Of All Streets
The Wolf Of All Streets
Is Bitcoin Doomed? Political Chaos & Trade Wars Are Brewing A Crypto Storm!
00:44:49
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- [00:01]
Scott Melker
While we've talked about the fact of late that bitcoin has shown relative strength to other markets amid tariff and trade war uncertainty, there are other factors that could negatively affect the chance of legislation in the United States. According to TD Cowan, that is the fact that Trump is so deeply in his own crypto ventures that it could once again become politicized and could threaten the chances of regulation and legislation coming through. Going to talk about this and everything else with Sasha Mitchell today from Elastos. First time on the show. Excited to have him here. And I actually tested out the platform, which is something I've basically never done with any of our guests before. So pretty excited to show you guys that we've also got Chris Christopher Angst from Texas West Capital on the back half. Let's go. Let's go.
- [00:55]
Sasha Mitchell
Foreign.
- [01:02]
Scott Melker
What is up, everybody? I'm Scott Melker, also known as the Wolf of all streets. Before we get started, please subscribe to the channel and hit that, like button. It's kind of funny, I think about that. I say that because we already got started. I always say before we get started and then realize that we've done a whole intro already. Before I say that, I think I need to rethink the way that I start my shows. ADD is kicking today, as you guys can see. I'm going to go ahead and bring on Sasha now. Hey, man. Welcome to the show. First time. First time, indeed.
- [01:34]
Sasha Mitchell
Hey, Scott. Great to be here.
- [01:35]
Scott Melker
So, listen, we do these hyperbolic titles to get people to click every single time. Like the last two days, bitcoin was this shining light in the face of global uncertainty and performing well. Well, today, apparently it's doomed because of political chaos. But this is actually coming from TD Cowan, as I said at the beginning, says political risk for crypto is rising. So TD Cowan, as it warns Trump's crypto ventures could derail US Legislative efforts. And I don't know if you saw this, but they're launching a game that's like Monopoly on the blockchain. So now we've GoT Trump Mining NFTs Blockchain meme coins to their credit. They've done it. All right.
- [02:13]
Sasha Mitchell
It's pretty amazing, right? I think as far as you got to jump in to swim and you can't, you can't deny that on the Trump side, it's, it's full, but full guns blazing.
- [02:22]
Scott Melker
Yeah. Actually, I think this is kind of cool. Right. And I guess I can see the point that if they go too far and it could be an argument that they're trying to profit off the legislation and regulation, but my feeling is that this train is way too far down the track right now for any of this to affect it.
- [02:41]
Sasha Mitchell
Yeah, yeah, we've gone from regulation to really feeling like the doors are wide open now. And, and with that comes, you know, positive lots, you know, negative sentiments, but I think a lot of positives as we realize the markets and what's going to actually be unleashed in the. In the months ahead.
- [02:57]
Scott Melker
Yeah, it's been my feeling that we have these endless tailwinds for the actual industry and we're just stuck in this complete disaster of macro at the moment. But the minute that that is remotely resolved, things are going to fly. I mean, this is crazy. We're now threatening apparently 245% tariffs on imports from China. Seems like an arbitrary number. And then yesterday there was a comment, I wish I had it in front of me, from a Chinese official basically saying that the United States were peasants that were going to cry in front of 5,000 years of Chinese history. I would say that nobody is really flinching right now. So maybe we're going to have a little more pain or at least uncertainty for a while here.
- [03:43]
Sasha Mitchell
Yeah. The big one is as well, with the tariff wars, is if income tax does get dropped. If that happens, I think us is just. People are flooding in, it's open for business, because I think that's always one which upsets everyone. It's having to pay your taxes. And actually, if you can operate in a world where there's no income tax and you can be an entrepreneur with regulation being cut down, Everything Doge is doing to me is all in the right steps. We want to move into a world where, you know, we're not strangling innovation. Entrepreneurship is all about taking risks and doing it in a way which is obviously within legal means, but in a way where we can create markets and we can have opportunities and we can thrive. So I'm very interested to see how really what we're seeing is the first or the first chess moves, but how the actual end game is going to look. And I think I'm optimistic for the US and world it offers the world.
- [04:36]
Scott Melker
Yeah. So I was speaking to Mike Belshi from Bitgo about this yesterday, and he basically said, listen, we're going to get legislation, but it's going to come down to the regulators to then craft around that legislation exactly what we need. And he's very optimistic that we have the right people in place to do all of that. But to your point, I think it's going to actually be deregulation with clear rails, but then freedom to build what you want that would actually make this industry thrive.
- [05:06]
Sasha Mitchell
Yeah, yeah. Jumping in on the web three space jumping in on blockchain technology. I mean, having these open ledgers which everyone can transact on both in finance and rights. There's so much innovation going on on this side that is just, I think all across multiple technologies, but all converging and it's all going to be placed on top of blockchain technology. And I just think the US and really Western markets standing for democracy and moving forward on that. If the US is the leader and the superpower who says puts their foot down, if the bitcoin becomes a global reserve and then the innovation is unlocked for everyone to move in, I just think it's going to be such an incredible future ahead. It's an exciting time. I think economically we have concerns with interest rates and how things are looking before when it comes to technology and innovation, it's just getting more and more insane.
- [06:00]
Scott Melker
Yeah. Literally today there was a story crypto as much as Trump reports. So he basically, if you dig into it, said that they were get a strategic bitcoin reserve, they would do the same kind of regulation as the United States. Those who don't know, South Korea is the most degenerate crypto market that we have. You look at crypto, volumes of people trading, it is insane. They basically outperform everywhere else. This is actually huge news for crypto. If South Korea took the Trump playbook and actually created a bitcoin reserve that win. But the fact that it's even on the docket sort of displays exactly what you're just saying.
- [06:40]
Sasha Mitchell
Yeah, yeah. I always remember doing a case study on Seoul and it's one of the most densely, if not the most densely populated cities. And everyone's growing up, you know, know gaming and you send your girlfriend a digital flower as a gift and it's, you know, you have the digitization baked into the culture. And so the trading in cryptocurrency just comes so naturally. But yeah, once the, once the domino pieces start falling, I think everyone's just jumping in on this.
- [07:06]
Scott Melker
You know what? I've talked tariffs and macro and bitcoin prices to death for the past days and weeks. And since I actually have you here, just talk about the actual exciting things that are being built here. Right. We've had this situation, I remember in the past cycles it was always about we're trying to do too many things. We don't have the Block space right now it seems like we have a flip from there, right? And it's like we have so many chains, so much block space, so much competition, and we're not getting the mainstream adoption that we're looking for to do it. We're still waiting for the catalyst, right? We have stablecoins, obviously, as a killer app. We've seen some games like Godzilla start to brew and have real success, but still waiting for more adoption. So maybe tell me about what you're excited about that's being built, then we'll get into obviously what you guys are building. I mean, how do we make Web three deliver the promise that we've had for all these years?
- [08:06]
Sasha Mitchell
Yeah. Thanks, Scott. Actually, I've been so excited just to get on this call to chat with you, coming from a creative background, because I think I've come from a creative background background myself. And actually, how do we, how do we. For those that innovate and create new things, how do you monetize and make revenue? For me, that's been the big thing missing in web 3. We have speculative tokens which we can buy and trade, but we also have all the problems that come with it with rug pools and, you know, these, these uncertainties on, on who's behind it and what's going on. But in, in the real economy, we sell something of value in exchange for some kind of financial return, and we need to have that in the web3 space. So this is a massive advancement that's happening that our team elasticity is working on, which is really digital rights management. The ability to actually encrypt assets like a song or a video, and going all the way up into software markets to tokenize them as assets on a blockchain and to actually trade scarce asset access rights peer to peer globally and where every payment is distributed out to again, another set of tokenized royalty rights. So we can then imagine buying and trading royalties to all types of assets, from AI models to music to video, earning income every time they're purchased and being able to access these assets. One of the biggest problems that I've seen in the web 3 space is the user experience. I'm very excited to see chain abstraction, account abstraction, the ability to log in with your socials, to not care about the blockchain infrastructure underlying everything, and then to enter into this economy where we can buy and trade value, which isn't just based on speculative value. You buy something in return for something which everyone has skills and insights on.
- [09:59]
Scott Melker
These are ideas that have been brewing for a long Time. And to your point, it's just been about UX UI to me. Right. I think everybody obviously understands that they want the digital rights to their assets, that they want those accurately distributed, that they want the creator to actually get the money instead of a fraction of a penny like they do on a Spotify or something like that. So how do you build a platform that grandma can use? It always goes back to grandma, like, can grandma use this? Or I don't know that grandma's gonna, you know, do subscriptions for music and things like that. But this was so intellectually interesting to me because I have this long history of producing music and as a DJ in a former life. Right. And it was always so impossible to actually make money on it.
- [10:43]
Sasha Mitchell
Yeah, yeah. And likewise, you know, I studied music production and worked in the film industry for five years. And again, you meet so many incredible, talented individuals. But the Internet as we know it today has evolved off digital rights management, drm, which essentially allows us to, you know, either have buy now or have subscribe or have free with ad revenue. You know, this is the way we make money online, but it's also what's driven the evolution of the Internet. So it's, it's been very integral to get us to the blockchain world that we're in now. So it's almost like cycles, repeats as we enter into the web 3 phase and everyone starts to adopt ownership and the ability to actually tokenize and own. The missing ingredient is revenue in this world. So, you know, buy now, subscribe and do advertisement deals peer to peer with people all across the world and have complete instant payments through smart contracts. You know, these are things which the Web2Space, the traditional Internet we use today isn't offering, you know, it's offering almost a rental model where you're bound to a closed system, them to terms and conditions and ones where you're slightly restricted on what you can do. And these are incredible vehicles for us to be loud and proud and use. But I think when it comes to being able to capture revenue, we're going to start to see these new monetization models in Web3 where you might give 40 to 35% away to a platform today you can now capture the whole 95 to 100%.
- [12:14]
Scott Melker
Okay, I went through the platform, we'll get into that and it's awesome. But isn't this onlyfans to some degree? Isn't this like web3only fans now? I happened to just, I wanted to test it because I saw it, it was cool. I Was going to throw some music on there, but I didn't have time to produce a song. So I made a video about bitcoin technical analysis and bitcoin dominance, which I can bring it up and we'll talk about it more. But you know, here it is and you can see it here. That's me do it. Doing some things. Took me, you know, only a few minutes to do it. I connected, I uploaded, that was great. But like this is basically like you go pay somebody for exclusive content. Only fans, right?
- [12:54]
Sasha Mitchell
Only very, very similar, yes. And not just necessarily for adult content.
- [13:00]
Scott Melker
But it's obvious, right?
- [13:01]
Sasha Mitchell
What we want is an open market where everyone has the freedom to do whatever they want to, you know, they can buy and trade whatever they see of value within, you know, the legal bounds and within what's allow. So yeah, I'd like to think of it in the bigger picture as an Amazon of digital assets. You know, It's a web3. You go to this portal and you have assets ranging from video to audio to software, AI agents, even going into the real world where you actually can buy access to like a, a robotic service. I can imagine the future like healthcare services. I can imagine, you know, things like self driving cars that can pick you up and then likewise, you know, if you can capture all your data and encrypt it, why don't you train your own AI, model up yourself and then offer that with the business model to the world to be able to, you know, to talk with.
- [13:47]
Scott Melker
So it's not just content. You can literally like anything that you can create, you can load here and sell peer to peer effectively, yes.
- [13:58]
Sasha Mitchell
So on a more technical side, the video player that you'll see in Elastity, that's actually a special media player that checks against the blockchain. Do you own the rights to decrypt the content? And if you do, in your decentralized wallet, it fetches a license key from your smart contract, Scott, that you deployed and it then decrypts the content for the consumer. All we need to do next is just start basically the infrastructure to encrypt and to tokenize any asset is available. All we're doing next is actually making the media player. We're moving it into an operating system environment where it can then read and play back games, it can read AI agents, it can do every type of asset. And what we've built on top of here is the Elastos smart web. So you know, as a project we're built on Elastos and this, this vision Is coming from a 20 years in the making veteran. He worked at Microsoft Rong chen in the 90s. He helped build the operating system there. And his belief is we need to have a Web3 operating system which can do exactly this. Because if we respect each other's rights and we make rights tokenized and tradable on an open market, we unlock a whole blue ocean of new opportunities which yeah, you can't put tariffs on blockchain. You know, you can buy and trade freely around anywhere in the world. Payments will be made automatically by smart contracts. And we're living in this new economy which is everyone's increasingly they adopt freedom. Right. Like technology gives us more for less. It allows us to have more freedom. So this is just another example of you can buy and sell with the world without having to rely on any platforms.
- [15:40]
Scott Melker
Right. And so you obviously have like a dashboard here. I'm looking through it as we're going where you can see how many you've I guess sold or how many there's a. Maybe we should talk about the models because I looked through this. There's a subscription model but there's also a one off model. Correct. Like so that people have options as to how they want to interact with the content.
- [15:59]
Sasha Mitchell
Exactly. And to a channel. So you. Anyone can create a channel and then you can. It could be public or private. So public is anyone can mint into it. Private is only the owner can. But you can also set like previous NFTs or ERC20 tokens which can be traded as liquid tokens as access as well. So we can open these whole new markets through creating utility for tokens in how they can open and unlock these different experiences. And it's all governed by smart contracts on the blockchain. So yeah is definitely my passion and I believe this is what Web3 needs next. This is the evolution of Web3. It's bringing business models to the space so we can start capturing revenue and that will drive new people in. Especially if we have good user experiences where the blockchain itself is hidden.
- [16:49]
Scott Melker
I'm laughing because Christopher here said Scott, you better not put these streams on this thing. It would only be extra content. But honestly for me it would be incredible to throw up old music that I would never released or old videos, things like that. But then also you could have a model where you just do some custom content that doesn't fit into the stream each day for a couple minutes. Right. Here's my thoughts on X Coin that somebody requested or a news story that I didn't get to review and it's a quick video. And is the pricing set? Is it fixed or does the creator get to set the pricing and the subscription price and all those things?
- [17:29]
Sasha Mitchell
Creator can set the pricing. We take a 5% fee just to keep building this system and to offer the streaming kind of costs in the back end. But otherwise, 95%, you can allocate down to 0.1% royalties to anyone's decentralized wallet around the world. Every time a subscription or transaction is made, it's distributed directly to wallets by the smart contract. And you can also set resale rights. So if you're selling, let's say $10 for this video, you can say if you buy a video and there's only 100 available, you can resell it and you can get 90, let's say 90% of the resale rights. Now the remaining 10% will be distributed to all the royalty holders from the first set of contracts. So it grounds back to the original creator on its journey. Regardless. And to your point, Scott, Yeah, streaming and doing these kinds of platforms is where the audience is. It's where all the liquidity and viewers are. So when you then have exclusive content in a We3 world, you can drive traffic and monetization into that space, but the difference is you can capture that extra 35% that you can't in this traditional world. So I think having followers is a huge asset. And leveraging Web2 following like Web2 platforms is just an incredible. It gives more independence in entering into the web3 space.
- [18:50]
Scott Melker
Yeah, these are the kind of things we need for people to start actually using Web three. So there's basically kind of multiple models. If you're someone like me who has a million followers, I could aggressively push people to links on here, see my exclusive content, make extra money. But I assume then within the platform itself, for people who don't have a huge following, there'll be search engines and probably an AI backend that's helping you find some. The algo. Right. You're gonna. It's gonna be the Algo, like a TikTok or a YouTube that feeds you content similar to what you like. I'm throwing this out there, so I'm assuming it is. But so, so that. So that you could. If you don't have a huge following but you're making good content, there' still be ways for people to find it.
- [19:29]
Sasha Mitchell
100% like AI agents. And how AI is coming in is really interesting. And I'm coming from a creative background to Scott, so you Know how we would make a song, we'd sit down for, let's say, two weeks to a month and we tweak and we'd edit things and it would be painful, but we'd come out with this final output. We're entering into an age where everything is flipping on its head because we have abundance through AI. So rather than spending all this time tweaking to make a song, what you could actually do is you could create a thousand songs immediately in a certain style and then you can basically filter down to that one song and that one tweak that you love and that output that you'll do. It's almost like a shooting star amongst abundance. Elastity is a place where you can then come and monetize it. Because what we're going to see is incredible outputs by, you know, individuals, if not small teams. Ultimately they can become, you know, unicorns in their own right. When we look into softwares and actual services, it's a very different way of attacking creativity, but it's going to actually open the opportunity, opportunities for people. Like a gaming studio costs, you know, 200 million to a billion, you know, a film, a full. A film, 200 million. And it's because you have to have all these people helping to make that production worthwhile. Suddenly we have these tool sets where we can do so much of that for so less and it's happening faster and faster. So we're increasingly becoming independent where we can do insane productions. And something like elastity is the place in which you sell that exclusivity to your production.
- [21:00]
Scott Melker
Yeah, you could also sell the. If someone's a subscriber and they want to see your process as an artist, you could upload the individual takes on the way to the final product. The unmastered, the pre master. What do you think of this last version? Get feedback from the audience. Really cool. Yeah, that's what I would do.
- [21:21]
Sasha Mitchell
Yeah, I think it's valid. Really excited about how this whole space is evolving. As I say, we're built on Elastos, which I'd also recommend. Recommend everyone checking out. Because Elastos is. You hear Ethereum being called a world computer, but what is a computer? You know, a computer is a hard drive. It's your operating system. It's the ability to have an Internet connection and the ability to have a login. You know, this is the. The fundamental vision of Elastos. And you can head over to Elastos.net is, you know, a world computer isn't just a blockchain a world computer is all those components brought together. So Satoshi was the first to bring together a decentralized centralized money. But many tried before and one did, you know, they had hash graphs, one had merkle trees, you had hash cash, you had all of these B money, you had all of these attempts. But they missed fundamental pieces. And so the really like it's. We're on the next kind of cycle of advancement where rather than money, we're trying to create, you know, the world computer, which is rather than just a blockchain technology, it's the combination of decentralized storage, computer blockchain with rights and finance management. But then the operating system, the actual virtual computer that you boot up with your decentralized identity, you enter in and then you have this digital economy inside. And so that's where we're headed. We're installing all of this into a real world computer environment where you can create, you know, use AI to create creative things and then you can tokenize and sell them with the world. And it's all global, peer to peer. And just on the economics of the first part of our chat, it's free markets, it's Internet capitalism for the first time, something that I'm passionate about.
- [23:06]
Scott Melker
So what kind of people would you suggest at its current form, its current iteration, use the platform? Who is it good for? Can they make revenue right now? Sort of. Where's the current status of it?
- [23:19]
Sasha Mitchell
Hell yeah. Okay, so I'd recommend anyone who's a creator on listening in, head over to Ela City today. It's on Elastos right now, so you'd have to get a bit of Ela as gas from Gate.
- [23:32]
Scott Melker
Where do you get that?
- [23:34]
Sasha Mitchell
Yeah, Gate, IO or Q Coin, they have it, you can, you can withdraw it out, you can log in with your social account. You'll get a Web3 wallet in the background. You can copy that wallet address and send here and then you can just go and upload content and it's once you're very. And then, and then you're going to be monetizing. Now if you're someone who knows creatives, why not help those creatives on board and then you can define royalties for yourself. So if you're like a go getter and you want to give yourself 15% of, you know, the cut for each creator you bring on, you can also do that and you're going to capture that. Many early films, you hear of the stories of these incredible stars who they didn't take salaries, they took royalties instead. And you laugh when it became a huge hit because it became worth so much more than the salaries were worth. So for me I think we're in a golden age where actually mining royalties are going to become a huge industry by onboarding people into this world. Because you can capture royalties which get sent to your decentralized wallet and they can never be taken from you.
- [24:37]
Scott Melker
Paid in ela, I assume.
- [24:39]
Sasha Mitchell
Paid in ela and then we'll have USDC markets coming in probably about two to three months time. So right now elastos only and I encourage everyone to check it out. It's a great little economy that we have and this is in my opinion the forefront of innovation.
- [24:54]
Scott Melker
And as we set this up and you guys helped out afterwards. So remind me, what does it cost for somebody to subscribe to my channel or buy one piece of content? Because I'm going to upload more.
- [25:05]
Sasha Mitchell
Okay. So yeah, we have an exclusive giveaway that we're doing right now. So basically we've got a prize pool of $2,000. And so if you subscribe to Scott Melker's channel and elastity that is to go to Kucoin or gate to buy a bit of ELA and to send it to your wallet and, and subscribe for three ELA. So it's about $4. We're going to be giving 40 winners randomly selected roughly $50 each. So you know, this is a chance to, to get involved. If you want to just try it out. Scott, you've uploaded an exclusive look into the bitcoin markets. You've shared your, your insights and again I think if you want to know what Scott's thinking there too, here's some exclusive.
- [25:49]
Scott Melker
I love that. I think I just got bullied. Now that I know people are going to subscribe to win that I'm going to have to upload more content. I see what you did there. I said just leave them with one video on my bitcoin views on yesterday.
- [26:03]
Sasha Mitchell
So you can subscribe as well. Everyone for three ela. But also the video itself has a buy now option for 10 ELA which is 11. And think of it like you're owning a collectible of Scott's, you know, Scott's content. So the subscription gives you a month access to the channel. But if you purchased for the 10ELA the actual video you'll have, you know, you have the ability to own that and watch it as much as you like until you resell that access on and you get a 90 resale rate. If you do sell that on, you.
- [26:34]
Scott Melker
Remember When Martin Shkreli bought the like Wu Tang album One off for a million or two million bucks or whatever, this would have been the perfect place. Place to do that.
- [26:42]
Sasha Mitchell
Yeah, this really is that. This is a great example of, yeah, sell exclusivity.
- [26:48]
Scott Melker
You could just do like 10 copies or 100 copies and then the second hand resale and all that. I mean, yeah, this, this is powerful. I remember like the first iterations of this in the last cycle, specifically with NFTs. But being able to be an Amazon marketplace for everything digital, this could be the thing like where it finally clicks. I like, like just being able to resell and buy and sell NFTs and getting like the royalties, that was a cool kind of experiment. But when they went down in value, nobody cared.
- [27:17]
Sasha Mitchell
Yeah, and the value, I mean the joke with NFTs was like, it's a JPEG, I can just copy and paste, you know, when we actually encrypt the asset. So if it's a video, it's like you're not buying an nft, you're buying access. So we're turning access into a tokenized commodity which also you can define the scarcity. And so it kind of changes like how you look at this technology and say we've been so focused on finance that actually the rights management which is in the NFT realm is actually innovating and expanding in a really exciting way.
- [27:49]
Scott Melker
So can you get ELA on a Dex?
- [27:52]
Sasha Mitchell
You can, you can get it on uniswap. You can get it. Elastos itself has a Dex. Yeah, it's available.
- [27:59]
Scott Melker
Well, I have a feeling a lot of people knowing my audience are us based with and probably jump to Uniswap before necessarily have a Kucoin account or something. So basically to summarize, because this is all news to me, you're giving away 2,000 bucks. People can spend $4 to subscribe and have a chance to win that $2,000 to get some people into the ecosystem and to goad me into creating more content.
- [28:23]
Sasha Mitchell
Exactly. Perfect.
- [28:26]
Scott Melker
Anything I might have missed before, we gotta make sure. So is it Ela City the best place for people to go and check out everything that you guys are doing?
- [28:35]
Sasha Mitchell
Yeah, yeah, head over to. So you can go to Labs Ela City if you want to check out about our engineering team and everything. We're building a little backstory on us. And if you want to go to Elastity to get Scott's content. Yeah, Ela City, if you do buy on Uniswap, go to elastos.net and there'll be the information on bridging on how you can get it across into Elastos, if that's. That's what you prefer.
- [28:59]
Scott Melker
I'm dying at this comment. Scott's collectible major top signal. I can. It's funny though. I. People don't remember, but I was like the first guy to do a music nft like year before it became a popular thing at all. I worked with this artist. It was incredible. We took one of my old tracks and they animated it and it was awesome. It was like some. It was some platform block party I think that I did it with. It's probably defunct at this point, but, man, it was. I was pretty into this from the beginning thing, so it wasn't the top signal then. I was ahead of. I was ahead of the curve last time, guys, on the NFT market with my one. With my one mint, but pretty good. And where can people follow you? Sash. I know it's Sash because you're British. Like in America we say Sasha. You say Sasha over there. I know it's like, you know, Sasha and Digweed days for the old DJ folks.
- [29:51]
Sasha Mitchell
Yeah, yeah, yeah. But yeah, you can find me at Sash. Underscore, underscore. Two underscores mit.
- [29:58]
Scott Melker
The double underscore is a killer. There's someone who's Sash underscore mit who's not you. I think it's like a dude with his shirt off.
- [30:07]
Sasha Mitchell
Yeah, I've got some.
- [30:08]
Scott Melker
When I was tweeting about it this morning, I went to check it and I was like, that is not him.
- [30:12]
Sasha Mitchell
We're being for a surprise when he gets tweeted talking about blockchain and economics.
- [30:17]
Scott Melker
If you think why are these people bothering me? But maybe I'll go check it out. So. All right, guys, Guys, this is awesome, man. I'm really glad that we had you. It was a nice departure on a Wednesday from being told I have TBS all day in the chat and talking about Trump and tariffs and markets in China because, oh my God, we're good. And I have Chris to do that right after you anyway, so we'll dig into that. Thank you, man, so much, people. Give him a follow check out. Lastly, check them out on X. That's all linked right down below and go win 2000 bucks. Bucks.
- [30:48]
Sasha Mitchell
Hell yeah. Awesome. Thanks so much, Scott. Thanks everyone.
- [30:51]
Scott Melker
Awesome, man. Thank you so much.
- [30:52]
Sasha Mitchell
Bye bye.
- [30:54]
Scott Melker
Now I'm going to bring on the one and only Chris. Now we can talk about 245 tariffs on China and what it means for the Bitcoin charts. Yeah, I was getting, I was feeling for the 50 MA guys, you know, the MA guys. It was feeling like we were going to finally get above it there yesterday. But alas, pass.
- [31:15]
Chris Christopher Angst
Yeah.
- [31:16]
Scott Melker
A rejection.
- [31:18]
Chris Christopher Angst
Yeah. You know, I had put out a tweet last week, I think it was, and I said, or at the end of the week there, and I said, I was looking, it looked like we had five waves up off the low. And then so I was looking for a three wave pullback. And then of course this week and it just kind of pulled back a little bit like, I don't know, like 23 or whatever and bounced back up and then, you know, it made that slightly new higher high. And I kind of zoomed in on that was three waves. So I said, okay, well it looks like it's a flat correction now. So. So, you know, yesterday there on. On was that crypto town hall with y'all. I mentioned that and I said I was looking for a pullback, you know, kind of toward that, that recent swing low there at around that 83 or 84, 380 kind of area. Or if it continued to break down toward the. What is that? That weekly pivot around 814-81450, depending what chart you're looking at. So, you know, yeah, to me it looks, it looks like a leading diagonal off the swing low. You know, here we got, you know, you get to 1, 2, 3, 4, then 5 here and then there's the 3 down, the 3 back up and then, you know, maybe done here. But if not looking for it to maybe get down here at 81, you know, again, 81 4. So. And see if we can do that. If we do, if it's done here and we get a rally from where we're at here, that would give us a minimum expected wave three target up here at 104, 928. And that would be pretty clear that, you know, the low is probably in. At the end of the day, what we need is a move above. Let me see here, this 88. Again, it just depends on the chart you're on. But right around 88, 6, 56 is kind of this swing high here around April 2nd. That's the last lower high off that all time high. So as far as market structure goes, you know, you get the, the lower high, the lower low, lower high, lower low. We keep doing like that. But when you break that last lower high that sets up then, you know, that's the break of the market structure there. That sets Up a potential move, you know, back up in the other direction there. So that's really what we're looking for overall. You know, you don't have to believe Elliott Wave or even Wyckoff. I've got it. You know, down here is maybe a spring and a test and all this stuff. But, you know, market structure says that that last swing high there, lower. Swing high is where we'd be looking to get out above. And as I kind of said on your show yesterday on the. The crypto town hall, breaking out above, it does break that bearish market structure. But you can fall back down and continue lower. Then you just have this larger, bearish market structure where you have, you know, you have the start up here, which is your high, and then you would end up having a low down here and then a lower high and head lower. But what I tend to look for is this move where you, like, break out and then you get a pullback at some point and then you break out above consolidation.
- [34:10]
Scott Melker
Yeah, yeah.
- [34:11]
Chris Christopher Angst
And that right there, that would say, okay, you know, nothing's 100 in trading, but that right there gives a really, really good chance that. That you, you know, you've got bullish market structure off the low now and reversed and heading up.
- [34:23]
Scott Melker
I'm trying to remember. I think at the time it was the link chart that had, like, the craziest consolidation ever. I was trying to find it, but this was a perfect example. Yeah, I'm going to pull it up on the weekly. But now my trading view is not working.
- [34:36]
Chris Christopher Angst
Of course.
- [34:38]
Scott Melker
Yeah, but the idea, it was this. It was like for years that it happened. Of course, it eventually failed, but it was. Doesn't allow me to do the screen shares in the same way. So it's slow, but it was this for, like, years.
- [34:51]
Chris Christopher Angst
Yeah.
- [34:52]
Scott Melker
And then came boom. Right. That took a longer time to retest, but that's basically kind of the same idea. I really think bitcoin right now, though, just needs to get above that sort of 88,000 area, make that new higher high, and then we're off to the races.
- [35:07]
Chris Christopher Angst
Yeah. I mean, you know, again, and it is this, you know, the sideways here. It is a great setup on there. Everybody's pretty much max bearish, it seems like, at this point. And not just in, you know, crypto or bitcoin, but in stocks as well. And I, you know, again, I've been doing this a long time, and usually when you're seeing this kind of offsides, I guess you could say, as far as emotion goes, you know, most Often you can count on it going the other way. And so, you know, I wouldn't just. It's just one of those things, you know, when you've been in the market a long time, you kind of, you know, if you pay attention to those things and you look at them and you can kind of say, well, you know, most of the time I'm going to be right on that. Again, no guarantees, but you know, we can try, right? But it's interesting though because we can look at, at these charts here with the alts and they're all looking mighty similar as well. So we've got one inch here. I remember when that thing launched. That was crazy.
- [36:05]
Scott Melker
I used to make fun of this on every single stream, not the project. But like I would just, I did these chart streams and the first thing, someone would request one inch every week and we would just say, hey, it should be called 6 inches or at least.
- [36:17]
Chris Christopher Angst
Well here now they can start requesting it again. So, you know, again the same Idea we got 1, 2. Looks like, you know, 3, 4, 5 up here. Looks like we've got a three way pullback just about done there with the 50 retracement. But so we want to break out here above. What Is this here? 0.177. If we get a breakout about that, then we should be on our way up. If this is the low it holds here at the 50 retracement, you know, we'll look up here minimally at 0.224 for wave three. So pretty good movement there. And, and you know, again, I think the bigger thing here is just that if you can get that wave three, that 1618 extension, that really opens up the narrative that the bottom's in. And so, you know, that's my bigger thing. Not even so much, you know, just oh, we can get from here to here, but it's actually hitting that. I think that'll do that. That everybody's favorite meme coin doge here, right? And if it's not, you're wrong again. Again, you know, same idea here. It's five waves up. Looks like a leading diagonal coming off, you know, pulling back here we're right around that 38 to not quite the 50% here, but you know, if we can ride that through, we got to get above wave B which is 16949. And then that opens up minimum expected target up here around 0.232,2. So again, you know, getting that is, is the big move here. It's, you know, especially if you're concerned about the, you know, the bottom maybe not being in and all this stuff, if you're reaching that that really increases the odds that that narrative is correct. Let me see here. Nope, don't want that one. XCN here. This was. This was a great one, man. We. We made. We did well on this one. This one on the move up here, we traded a couple of times, made ridiculous money because it just moved so quick and so fast and really did well. But it looks like we've got, you know, wave B triangle here. So A and then wave B. And then here we come down with a 1, 2, 3, 4 and 5 coming right down around that 50% right here in this low volume node area. So I'm trying to see if we can get this reversal up off here. So my first thing is then can we get it up off here and jump out above 0.01896. And if we can do that, that's pretty likely that that low is in. But we really need to get above. Let me see here. E the triangle resistance here at 0.02164 and that'll set us off. We got a pattern target then, you know, from this low right now, based on the high of this pullback up here at around 03711 as what would be. To me, it looks like potentially a wave 5 on that. And. But, you know, if it drops down a bit further here, that target would move up because we would just continue bringing down this. This bottom here and that expands it up higher. But I mean, it's looking pretty good for a setup there. We'll see if we can get it again coming in at that low volume node. Any other ones? Let me see here. Render, Render looking pretty. Renders. Having a pretty decent morning here. So it was coming back down here. This one looks like it's a three and then a four here is a flat. And so, you know, based on the height of the pullback here, that would give us a 4.38 and a half cent target pattern target here. But you know, again, if you're going by Elliott wave, you know, you would have to break out above this wave B here at four dollars and five and a half cents or so to kind of add confidence to that. But you know, again, the setup is there. So, you know, when we're looking at these, we're getting a lot of these that are pretty similar. There's some that are going to be different. Like this is a little bit different, but it seems like we've got a lot of the Those leading diagonals off there. And if you look at stocks, especially if you're looking stocks, like toward the weekly, a lot of them, you'll notice had a three wave pullback. And they've either broken out or are pretty near that second wave. So for those that don't know, you know, three waves, you know, you get a down and up and a down. That, that's a corrective movement. So if you break up above that swing up there with that second wave, that locks that in, that, that third wave can't break down any further. And so you say, okay, well, that's corrective now. And overall we should be heading, you know, to a new higher high. And we're just, you know, I, I do the, I do these market wraps every night for our members over there where we're looking at stocks and, and crypto and everything. It's just the stocks, you're just seeing it everywhere right now. Everything from Palantir to just whatever you can name it just about. And so, you know, it's hard to see that and go, okay, yeah, you know, the top's in, you know, when those setups are there. So again, as always, no guarantees in trading. I want to keep reiterating that, except you're going to lose money from time.
- [41:12]
Scott Melker
Chris knows exactly what's going to happen in the future. Future.
- [41:16]
Chris Christopher Angst
Sometimes it seems like it. And then, and then I did something wrong. And, you know, the world lets me know how awful I am and how terrible a trader I am and whatever how this works.
- [41:25]
Scott Melker
They love you when you're right. Chris, I have a very important question for you.
- [41:29]
Chris Christopher Angst
Go for it.
- [41:30]
Scott Melker
What does a tired weasel look like? Because that's what I look like.
- [41:33]
Chris Christopher Angst
What does a what? Tired weasel. Tired weasel.
- [41:37]
Scott Melker
I am tired.
- [41:38]
Chris Christopher Angst
Is that trying to be like a backhanded kind of thing they trying to say?
- [41:41]
Scott Melker
I just don't know. Like, what's a tired weasel look like? I don't care that I'm being called one. I just want to know how you would know.
- [41:46]
Chris Christopher Angst
Well, apparently it looks like you according to the tweet there. So you got to look in the mirror or something. I don't know, man. I don't hang around weasels. I've never.
- [41:53]
Scott Melker
No, that's why I'm tired. That's why I'm trying to, like, place a weasel necessarily in my mind. And then I'm trying to imagine one tired and it's throwing me off, man.
- [42:02]
Chris Christopher Angst
I tell you, I gotta say, man, it was pretty cool that you got to, to talk to Dana. White there, man.
- [42:06]
Scott Melker
I was like, it was awesome. I can't wait. We got to get the whole thing out. It was just the clip that's come out so far. We Talked for like 10 minutes, but we picked up trash together for like 45 minutes on this deserted island. Got a nice sunburn peeling. Good.
- [42:19]
Chris Christopher Angst
Very cool, man. Very cool.
- [42:21]
Scott Melker
Yeah, he's an awesome guy, man. That, that fight was insane.
- [42:25]
Chris Christopher Angst
Yeah, yeah.
- [42:26]
Scott Melker
Say what you want about Donald Trump, but that the Cassia center in Miami, AKA the FTX arena. And you know, for those who the.
- [42:37]
Chris Christopher Angst
Arena formerly known as the FTX Arena.
- [42:39]
Scott Melker
And man, Trump, Trump rolled in there like he was like, in the main event, like he was a fighter with dudes behind him and like, kind of. It was crazy with musk.
- [42:49]
Chris Christopher Angst
You don't love him or hate him. He definitely knows how to get attention.
- [42:52]
Scott Melker
Yeah. And the, like, stamina. He was there until 2 o'clock in the morning, sitting there like he's presidenting all day. He's like 80 years old. I was, was dying tired, and this guy's just sitting there watching the fights, hanging out. It's crazy.
- [43:05]
Chris Christopher Angst
Yeah, that's awesome, man. That's awesome.
- [43:08]
Scott Melker
It was, it was wild. And yeah, Daniel Dana was very cool, man. All right, well, where can everybody obviously check out everything that you're doing?
- [43:15]
Chris Christopher Angst
Yeah, you know, you can follow me at TX West Capital there right here on Twitter, YouTube channel tech, you know, YouTube.com forward/texas west Capital. You can go jump to our website, Texas WestCapital.com if you want to join in. You know, we do all the, you know, it's not really a, hey, here's how the system work. It's a, hey, here's how the market works. We teach you how to understand price, action, volume forecasting, stuff like that, so that you can, you know, not only learn some systems to trade, but also that you can devise your own. And that's kind of our big thing. And of course, you know, if you're joining there, you're getting FIBO stuff too, so, you know, FIB will teach you how to do his. His.
- [43:52]
Scott Melker
We gotta get him back on here for one of these with us.
- [43:54]
Chris Christopher Angst
You need to, man, you need to. He's kind of hard to get right now. Things are crazy because of all the tariffs up and down. You know, he's got his day job there with an energy company, so his life kind of sucks sometimes. But yeah, yeah, we'll definitely. I'll get a hold of him, see if, see if he's open to some time, maybe jumping on.
- [44:12]
Scott Melker
I'm gonna go grab a nap so I don't look like a weasel before we jump into Tired weasel. You don't want to look tired. I just want to look like a weasel before we jump into Crypto Town Hall. It's great having you there yesterday, man. The way that was.
- [44:24]
Chris Christopher Angst
Yeah, man. It was good times, man. Yeah.
- [44:26]
Scott Melker
All right, guys, we'll see you tomorrow. 9:00am Eastern Standard Time. Have a good one, Chris. Thanks, man.
- [44:31]
Chris Christopher Angst
Take care. That's dope.