← The Wolf Of All Streets
The Wolf Of All Streets
Trump Becomes Crypto Billionaire Overnight, AI To Drive Massive Bitcoin Bull Market
00:50:34
Trump Becomes Crypto Billionaire Overnight, AI To Drive Massive Bitcoin Bull Market
Loading summary
Transcript84 lines
- [00:01]
Scott Melker
Trump became a crypto billionaire overnight, as we all know, launching the Trump meme coin. And then Melania. We've had a situation over the past few months where we've effectively had bitcoin going up and then the other side of the barbell being meme tokens and things without utility. But there has been another sector of the market that's been absolutely booming, and that, of course, is AI. I am incredibly excited to have today's two guests on to discuss one of the coolest use cases for AI and why it's going to be the narrative of the coming cycle. I've got Sujit Roy and my brother from another mother, Gaurav Dubi. Let's go.
- [00:39]
Gaurav Dubi
Let's do.
- [00:54]
Scott Melker
What is up, everybody. I'm Scott Melker, also known as the Wolf of Allstreets. Before we get started, please subscribe to the channel and hit that like button right down below. There's a lot of news worth cooking through today. I'm gonna do it really, really quick and then bring on the guest. I think the biggest news, obviously very exciting to the crypto community is the fact that Trump did in fact come through with his promise and he decided to free three Ross Ulbricht. He is pardoned. Had a two lifetime plus 40 year sentence. Good to see him out. Something that bitcoiners have been cheering for for a very long time and just honestly, extremely, extremely encouraging. The other, of course, the SEC has launched a crypto task force led by crypto mom Hester Purse. We haven't gotten the executive orders we're looking for yet that were promised to us, but we know that many more are still coming, of course. But Mark Ueda, now the chair of the sec, he obviously is a pro crypto republic Republican. We have Hester Personal leading a task force to give us reasonable. To give us reasonable regulation. We know that she's been behind the idea of safe harbor for years, which would be huge for crypto. And now it's 2 to 1, Republicans, Democrats, until we get some new appointments. Those are the big couple news stories I wanted to jump on before I bring on today's amazing guest. I got Sujeet Roy and we've got Gaurav. You're like, you're at the WEF there, standing out in the snow, right?
- [02:25]
Gaurav Dubi
Absolutely. Yeah. Madness. More snow or more people?
- [02:32]
Scott Melker
Looks like more. We have snow. I live in Florida. We have snow in Florida today. If you want to know what's happening in the world, for the first time since 1989, we had snow. Snow in my, in my hometown. But anyway, so listen, as I kind of have said before, we could talk to death, the fact that Trump has become a billionaire selling a meme token, or as my kids babysitter called it, a Mimi token token, which normally to me would be a top cycle, said have you heard about this Trump Mimi token Boy, not what I wanted to hear. But then obviously the biggest I think narrative right now in crypto that continues to come up over and over and over again in my conversations is AI. I recorded a podcast that hasn't come out with Rune Christiansen from Makerdao now Sky. All he wanted to talk about was AI. I recorded a conversation with Avery Ching yesterday, the CEO of aptos. All he wanted to talk about was AI. Right. And you Gaurav, you had kind of introduced me to what Sujeet was doing at Brain Alive maybe a year ago almost. Then we talked more about it and I finally got to meet Sujeet and I thought this would just be absolutely incredible conversation for the show. I'm not an investor. There's no token to buy, nothing like that. I just think that you guys have to hear what's happening in AI and where it's going to bridge with crypto. So maybe, listen, I'll bring up the site here, but maybe Sujit, you could just give us the quick background on what Brain Alive is.
- [03:53]
Sujit Roy
So thanks Scott, and thanks Gaurav. It's good to be here. Joining so BrainLive is fundamentally we are a deep firm. We started somewhere along seven years ago we started looking at AI perspective specifically from the neuroscience side. So we went ahead and integrated a lot of things like neuroscience, computer vision, natural language processing to analyze and understand human better, to understand their engagement intent. So we studied it for a long period of time, developed AI algorithms in order to understand the human behavior and how we can enable the business. So fundamentally we now is more centered towards having a largest data layer for the medical and health data. And that is what we are tackling with the bio network. So which are definitely technological modules that are linked to the state of the art variables like small smart rings or you know, your, you know, watches or something which can help users to track their health and get benefits through the AI recommendations as well. And not only that, but also mint money when they are, you know, they're providing data with.
- [04:58]
Scott Melker
Okay, so obviously tracking your health has become a huge trend, right? Longevity, understanding your sleep, your steps, all of these things. Oura Rings are a massively popular product. Obviously effectively you're utilizing AI and Then crypto to improve on that. And you already have hundreds of thousands of people waiting to show how real this is. First of all, Sujeet is like one of the world leading AI researchers. I can't say necessarily all the places he's done and the awards that he's won, but this is a very real, very serious product. Right. So this is a wearable that has features well beyond anything that we've seen in the market so far.
- [05:41]
Sujit Roy
Yes, definitely. I think so. In a nutshell, if I tell you then as you clearly mentioned, our rings and other stuff. So we are playing in the same domain, but a bit more advanced in terms of looking at from AI and recommendation engine perspective. So just monitoring things doesn't help you out. Right. For example, contract sleep, we can track blood, oxygen, different things, heart rate activity, movement tracking. But what AI helps you in order to, you know, in order to achieve these things is fundamentally not only analyze this at a level where humans are, you know, it's difficult to understand these data and find relationships. So we have developed algorithm that understand the relationship between all of these variables and then tell the human what is the recommended things to do in order to improve their health or, you know, mental health or mental well being. The best part, like I'm wearing the ring right now in my hand, so.
- [06:31]
Scott Melker
I have one coming my way.
- [06:36]
Gaurav Dubi
Me too.
- [06:38]
Sujit Roy
But the best thing is that when I wake up, right, it can tell me exactly what my readiness level is and that actually determines how I'm going to plan my day. So it's more of like we are coming onto the edge of AI and fundamentally going forward, we foresee a future of AI where it's more to be decentralized and centralized, where everything is stored with the larger companies and you have to distribute everything related to data and other stuff. And people who are actually using these devices are going to be benefiting as well because they are helping out in building up the data layers and other stuff.
- [07:13]
Scott Melker
So Gaurav, obviously you met Sujeet and I'm assuming we're fundamental in the way that crypto and blockchain would sort of be integrated into this. So this was one of the most exciting parts to me because there's no real token launch, there's no VC investors in the token. The only way to earn this token. Well, I'll let you break it down.
- [07:37]
Gaurav Dubi
So first of all, I'll start from where you left. Am I audible here? Because I'm in the middle of the street and that's how things look at vef. I'M sure everybody has been watching Ve videos for the last two decades. So you've got to do it on the street. You've got to have this background and you've got to have people passing through this. So I hope that's not a trouble. Right, that's how you make it sound good. And by the way, you know. Yeah, yeah. And also you got to have a sunglass. You know, it's snow and. Yeah, now you're gonna make us eat.
- [08:03]
Scott Melker
Bugs and like it. You gotta do it on the streets. Go ahead.
- [08:07]
Gaurav Dubi
Yeah. So on the point of, on the point of where you stopped. Sorry, what? Where you passed on. Yes. As a, as a participant of the blockchain industry Web three, we're flooded with millions, if not trillions. I don't know if that's the right notion of AI companies, AI bots, AI tokens, AI everything. And what Sujith just said is such a breath of fresh air because you're not making a chatbot. That is funny. And where engagement is the ultimate value. But we are talking about something real that is affecting your life on a, on a minute to minute basis, actually second to second basis. But then at the same time, while we are all excited about auras and ultra humans and whatnot of the world, we are missing an essential thing that we missed when we were making the social media and giving away our lives to the social media. And that's when Cambridge Analytica happened and we saw how that those data points can affect everything about not just your life, but countries and, and their political stance and of course affecting the whole nation and the world after. We shouldn't be doing that with our biological data because like you, like Sujith said, if you, if, if somebody has data about how you slept yesterday and how you slept for the last seven days, I can actually, I mean anyone can, with the right algorithm, make out if you'd be jittery, if you'd be stable, if you'd be at the peak of your performance and whatnot. If that data goes out, your life is in a bigger misery. And imagine there's this famous advertisement of Whoop with Ronaldo where they're talking about how his performance has increased over the last one year simply using this biosignal data for himself. Now imagine if this data goes out. I mean, it is going out right now. It's all with a centralized server with a large core that is already partnered to OpenAI. And not that I have any shit to throw on top companies. I'm just saying this data is out and it's not in control. Yeah, I mean, that's what WEF is about. No, but I'm not living up to the vibe, clearly. So in this case, I think humanity, all of us should be super, super serious about holding this data and how is it kept and the privacy of that to eternity, not now to eternity. And that's where blockchain kicks in in this use case. And I think this is. I'm not just proud about the AI use case of Brain Alive. I'm extremely proud about the privacy and blockchain case of AI of Brain Alive. So basically, all the data that's, that's being created by your bio variables, by the ring, by the EEG headset, even by the camera of your laptop using machine vision. It is directly rolled and sent to distributed and decentralized storage. Nobody but you has that access. And you allow, even Brain Live app, you allow to access it if you want to, if you don't, it's totally fine. And at any given point of time in the life cycle of this data, if somebody decides you to, decides to, sorry, too much glamour. Decides to use that, use that data, first of all, they seek your permission. Second, they pay you. And that's the utility of the token. Now that.
- [11:32]
Scott Melker
But that's the only way to earn a token. And that's the only way a token is minted.
- [11:36]
Gaurav Dubi
Exactly. There is no token.
- [11:38]
Scott Melker
No, there's no. The token is created by you utilizing this and getting paid for your data and for using it as opposed to throwing it out into the universe to God knows who through your aura or your whoop ring and never being able to monetize it at all.
- [11:52]
Gaurav Dubi
Definitely, definitely. And that also brings us to the crypto side, because this is indeed a crypto podcast. I mean, some of the audience are. For them to know this is as good as, if not better than, Bitcoin for the first case. Because there is nobody who holds token before the ultimate user, including the team, including the, including us. There is no investor that will dump the token on anyone. It is indeed the most legal, most compliant, and the most utility centric, real blockchain and token use case that has ever been produced. So we're talking about an incredible future of privacy oriented data, biosignal data. And then we're also talking about an incredible financial future of people who will be contributing this data for not just their own utility, but also for massive research utilities. This data just doesn't exist. And hence this industry has sort of struck a wall in development as soon as we open this up with the modern state of AI, there should be like, I don't know everyone and anyone that would want to use this to develop the next most sentient AI, because this data defines how humans think and their sensitivity. So yeah, it's a pretty valuable data and hence the token has a massive value in the coming days. And of course we have discussed privacy and AI at the core.
- [13:13]
Scott Melker
Yeah, Sujeet. So what I found interesting, and I want to dig into more, is how you talked about this as somewhat superior to the products that are on the market. I assume that's because of the AI and its ability to continue to learn. So can we assume that it will also just in sort of just continue to improve and iterate and give you more valuable information as it develops versus these other projects that just sort of have here's how you slept, here's how you walked. Like the part that I loved is how actionable it is and I'm very excited to wear one of these and try to earn some tokens myself and get this data because I'm a mess, I don't sleep well, I don't take enough walks. I think we all get it.
- [13:58]
Sujit Roy
Cool. I think that's a very good question, Scott. So when I look at in comparison to current companies, so generally what we design is what we have designed in the AI domains. Majorly they're very large models like for example ChatGPT or something which we generally call in a segment of foundation models. Right. So there is a limiting factor to that. So what happens is that what you do is you train over a very large, large amount of data and then you let the data or let the model be used by the community for their specific use cases. How are we doing differently now considering these are the biosignal data which is coming from your ring. Also there is Brain Alive app which is coming up which is there with the Chrome extension which monitors your images and other stuff video in order to give you the inherent feedback. Again with all privacy and user privacy concerns. Everything remains in your own system until you decide to make it leave. And also when it leaves your system, it is just a feature that has been extracted so that no real data ever passes up. But when you look at it, it is a form of continual learning completely the model is trained on firstly with this standard mathematical algorithms along with the encoding AI and then it is provide the feedback. But as more the data is being fed into the system that is by the users and community itself, it will become more and more personalized. And more and more user centric towards it. So AI right now, which is a bit generic for the Brain Alive, will be very much Scott specific. If Scott uses it for one month, it's more of like it will start to learn and enhance and think how Scott, how Scott's day start, how it analyzes, how it should be doing with, you know, you know, every day or every hour, what's the routine look like and how should I incorporate my recommendation there so that it helps Scott improve the performance or improve his performance without affecting his daily life routine. So it's not like you know that. Okay, no, just go for a 30 minutes run. I want you to do it now, otherwise it will be bad. It's not that scenario. So. So it's like you will come up with an recommendation engine sort of algorithm where it will recommend you to do in your daily life and it will improve the performance of your inherent abilities over a period of time. So it is continual learning. So it is continuously learning with all the data that it is getting through and it will improve on those aspects for user specific. And also since these data becomes very valuable. So you will have more from the demographics.
- [16:31]
Scott Melker
Yeah, I think. And interestingly the time that you're doing this, this is one of the other big stories I just wanted to kind of highlight because this was yesterday. Trump announces up to 500 billion in private sector AI infrastructure investment. So along with sort of crypto, I won't say be well crypto we could say, I think is being deregulated in the United States. But clearly the United States is also wholesale making massive investment into AI. Now understanding that this is the future, I have to imagine that this kind of focus and this country really building in the space is going to supercharge everything that you and other AI researchers are doing.
- [17:07]
Sujit Roy
Yes, definitely. I think this is overall global phenomena and the sentiment that we are looking at in perspective of AI, we have looked at Nvidia, performance of Nvidia over the last couple of years skyrocketing as well as the demands of the GPU and the compute going through all the different companies, even these simple chips making companies like Micron. So we are clearly seeing a very rise in, you know, a huge rise in terms of the GPU computation and architecture, you know, infrastructure that is need to develop this AI. And contrary to that, we are also looking at the AI models that are coming up which are pretty much large enough to cater to these sectors with like brilliant parameter model or you know, having, you know, multiple billion parameters model that we have seen through OpenAI and you know, other companies there. As in the second part of this, here comes the service domain as well, where you have companies like Microsoft as well as, you know, ServiceNow or Salesforce primarily using these big AIs in order to provide services. You can think of Brain Alive being at the center of this, where Brain Alive is having its own AI as well as providing it to the service sector by utilizing these data in a fashion where people can provide recommendations and other stuff based on the human abilities. The best part is that this data is somewhere not public. You cannot go online and just scrape up the Wikipedia or a lot of web pages to get this data. So which is the high signal data. So it can only be collected over a period of time and that stuff which have been going on. So it is as secure as the financial data you can consider for any trading company. Right. So they're not going to share you the recipe or something like that. So it is something.
- [18:42]
Gaurav Dubi
Yeah. One of the best cases to present the case here I think is Aura itself. Because Aura has that beta and they're able to give it to only their internal ecosystem or as recently raised at a multibillion dollar valuation, while the sector itself is not valued at those valuations. And the only reason why they're getting those valuation is because they're getting like they've been in this merger and acquisition frenzy. What they are doing is everyone else that has a science and a tech and an AI and needs massive amount of biosignal data to actually polish their models, create better meaningful insights and publish it for value driven utilities. They don't have this data set to optimize on. And Aura eventually has that being the first one there. So companies have to sell themselves off to one company that has that data because then eventually this model works out. What we are doing is. And all thanks to blockchain and decentralized ecosystems. We are just making this available for anyone from a researcher to a startup to an enterprise to come build on this. Optimize like launch ready products, optimize their AI for the best results from day one. Not just that, as soon as the US foundation goes live, we'll also be announcing a large grant program for any bio signal device to integrate BI as a network and then of course use not just our data but also our our value network and our ecosystem to sell their product, create more value through the buy network. So it's like opening up a whole world of bio signal startups and both physical, mental and professional wellness ecosystem and startups. Yes.
- [20:38]
Scott Melker
And people have been skeptical of this, right? I mean, we all. Nobody really wants Google to have all your bio data, right? And we've seen what happens with Ancestry.com and 23andMe and all these things. You literally give them your DNA and then they put it into a database to use. For what purpose, we don't know. Obviously, there's been some others taking, not.
- [20:58]
Gaurav Dubi
Cancel your insurance, whatnot.
- [21:00]
Scott Melker
Exactly. So your insurance says, no, this guy's insurance is going to be a lot more expensive. Thanks.
- [21:06]
Gaurav Dubi
And did you hear the stories where they stopped allowing citizens like people into certain countries based on their DNA data? Did you see that? Also, there were. Yeah, there were a bunch of cases where that. That data got into systems where they stopped. Like, they started barring people from entry, certain jurisdictions.
- [21:24]
Scott Melker
I'm not surprised. I'm not surprised. But what I think the. The one that caught everyone's attention in this space generally was Worldcoin, right? You go get your eyeballs scanned, there's really no AI element. I think people are a little bit afraid of Sam Altman perhaps, but there's a lot of projects that are working on at least a tokenized version of sort of identity and data. But this is very different because it's for you. You're earning for it, and nobody else sees that data unless you share it and you can monetize that. I mean, it's just. To me, this is like the most compelling. I thought that AI was a bubble. Gaurav, you've kind of convinced me that this AI crypto thing, a lot of it will be trash, as you kind of alluded to. A bot that goes on Twitter, makes jokes on your behalf, AI agents. But this is absolutely the future, clearly, man.
- [22:18]
Gaurav Dubi
I mean, this is actually the food of innovation, right? There has to be a bubble. There has to be a lot of speculation. That speculation brings the interest, and that interest brings the necessary resources. And those resources, of course, scatter everywhere because no one knows what's real and what shit. But then eventually it all consolidates to real thing, right? And that happened with the dot com bubble. That happened with the AI bubble 14 years ago. It was called the data science bubble. And it keeps happening over and over again. And look, I've been a VC for 16 years now, and I've seen many bubbles. Not many, I mean, but as many as I've seen. I can confirm that this is not just specific to an industry. It's not just an AI bubble or a crypto bubble. It is just how we develop markets. And to this I also want to quote one of our backers and investors, Anthony Scaramucci, who was on stage today here and was asked what, what does he think about Trump coin? And of course a lot of people might know his history with Trump administration while he was serving it. He said, look, I want to be fair on both sides. He said, I want to be fair. And one thing good that the Trump coin is doing and has done is that it has onboarded a massive, massive, massive population on crypto. Like you can buy through a card. Like, when did that happen? For the last time for a meme coin, people actually made some money, some lost, of course, part of life they'll make later if they're persistent enough. But it onboarded massive crowd to crypto and through the stupidest means, which is Mehme, like your mate says now really, of course there are inward side of that and it has to be eventually dead or if not like closer to dead, because as the website itself says that it is just for fun. I mean, you can't have a hundred billion dollar fun. Right. So there are goods and bads and eventually what happens is real value consolidates around real projects. So I'm not at all pessimistic about all the, all the, let's say air and bubble around reality because that will eventually feed into real projects that we are backing.
- [24:32]
Scott Melker
So listen, I know that you guys are going to, going to run out of time here, I think. Gaurav, I think you're the first on location, live reporter that we've had on the show.
- [24:42]
Gaurav Dubi
Should I, should I take that like a local, Should I take the stance of a reporter?
- [24:45]
Scott Melker
Yeah. And you need the, you need the microphone and stop somebody on the street, but. Which is cool.
- [24:48]
Gaurav Dubi
But 15 people who will try to cross by.
- [24:51]
Scott Melker
Yeah. This is the most important part, Sujeet, is like I've signed up obviously for the whitelist. I love that you call it a node. Right. The ring itself is your node. Right. I guess people think of a node, they think you're have to do something on your computer or set up a miner, something like that. Talk about how people can actually get this, what the process is like. You don't technically buy the node. Correct. In the end, it's a subscription. Yes.
- [25:19]
Gaurav Dubi
Let me clear a bit on that. Actually, the node is a software. It's a decentralized software that is in a sense the decentralized storage and the technology that governs it and or rather helps you govern that data. That's the node. So it is indeed a piece of Software which is built on decentralized storage and a governance technology on the top. The ring, however, is complementary with the node. Right. So just in the spirit of clarity, you're buying this piece of software that is allowing you to manage your data in a decentralized fashion and controlling it and helping you monetize. So it's a connection to the marketplace. And all of that ring is complementary because this has been the history of innovation. You have to subsidize or in fact help people feel the first use case. And that's why we're giving the first ring complimentary along with the node and now passing on to Sujith to talk about how to subscribe and how to take it forward.
- [26:22]
Sujit Roy
Yeah, so I think, you know, people can just sign up for the waitlist right now and we will be. So these PI Health notes will be sold as Node Operator License, which is actually in the form of ERC721NFTs. So people can subscribe to it, apply to the whitelist and they will be able to get this. And then so you have more of an economy here, which is what it gets to earn. So they will be able to mint approximately 100, 800 tokens or through a day, but through Bison and we verify that through the algorithms that we have that it's a good data and through that you can, you will be able to mint through the. And the bonus point is that when you apply for the whitelist, now we are intending it to make it public by the end of March. So you have public sale starting from somewhere around the 15th of February to the 31st of March, and the token launch will be somewhere around April 2025. So right now just people can go whitelist, you know, go for subscription and apply for it. So first year subscription is free and as Gaurav clearly said, the ring comes free with it. So you don't need to pay anything for it for the next year for consecutive subscription, you can buy the subscription in the tokens itself. For the buy tokens that you have earned through whole year. Actually it would be much more than that, probably.
- [27:37]
Scott Melker
So it could effectively pay for itself.
- [27:39]
Sujit Roy
Yeah, yeah, it will automatically pay for itself and you will have more money as well. So when we go with version two or something, you will have more utility.
- [27:47]
Gaurav Dubi
With the ring actually, not just to buy the. Not just to subscribe next year, but also to be to. To feed into the insights that you have gotten. Probably get some. Some nice supplements and nice workouts and some breathing exercises and professional efficiency. So essentially we are making you better both at life and at work so that you can make more money and also know where to spend it.
- [28:09]
Scott Melker
Yeah.
- [28:10]
Sujit Roy
So along with the ring there is generally is in conjunction with the chrome extension as well. So if people use both of them, you tend to get 20% more extra reward when you are using it for the content and that stuff. So you will be able to mint more, make more money. Actually the real money for the value of the data that is being provided.
- [28:31]
Scott Melker
Absolutely incredible. So guys, the links are down below in the description. You got B A A I co and then for the actual getting on the whitelist is node baai co sale. And then I highly encourage you also because I went through this brainalive get book. There's a lot there if you want more information on what's happening. Like, like I said, I just think that this was absolutely incredible when we had the call and I wanted to share it with, with all of you. I think very, very cool. Something to, to sign up for and participate in down the road. I, I do now fully I'm sold on the AI crypto connection, but maybe not through the agents and the other things. But yeah, I encourage you guys to check it out. Sujit, thank you. We're gonna have you guys on spaces too in about an hour or so. And Gaurav, go inside. Man, you look cold.
- [29:28]
Gaurav Dubi
I'm packing myself as I talk. So as soon as.
- [29:31]
Scott Melker
Just like the weather in India and Dubai, the two places that you live, right? Exactly.
- [29:37]
Gaurav Dubi
My goodness. No, this is like minus. I don't know how much. And this is when it's warm and sunny. By the way, beautiful. Google has a, has an amazing expression. I don't know how many of you would have ever got a chance to feel it. It says temperature minus five and then it has a new thing it says feels like minus 20. And that's when you know that you're in a mess.
- [30:01]
Scott Melker
Absolutely. Well, thank you guys. Have a great trip out there. Thanks Jijit.
- [30:07]
Sujit Roy
Thank you. Thank you.
- [30:07]
Gaurav Dubi
Cheers. Bye. Bye.
- [30:10]
Scott Melker
As I said guys, as you know, Aptos is our long term sponsor. I had a long conversation. I'm not sure if it'll come out this Sunday, the next Sunday. We've recorded a lot of podcasts, the long form podcasts of late. Obviously, you know, they. Moshe stepped down and joined the board and Avery Ching stepped up and became the CEO of Aptos. And we started this conversation. Hey, what's Aptos doing? Tell me about the future and every conversation like that. And Avery especially dove very deep into utilizing AI and how powerful it's going to be in everything we do. And if you're going to have AI agents that are out there in the world doing things on your behalf, at the very least they're going to have to transact. Right. And they're obviously going to be doing that with digital money and cryptocurrency and just really, really, absolutely incredible. And I mean, Aptos, they've had the most insane adoption of any chain over the last year. I mean, everybody obviously who's down on Ethereum or talking about what's happening on Solana, but you actually look at user growth and speed and uptime and things like that. Aptos has been absolutely dominating, probably because this was originally the Libra Diem product and it was first created sort of under the Meta umbrella and when they took it, made it more decentralized. The ability to sort of create that tech and speed that came from being at one of the largest corporations in the world is really, I think, benefited them. I'm very excited to keep having these conversations and to release that conversation I had with Avery because it's so absolutely good. These kind of guests like we had today and him and everyone on the podcast. This is why I love doing this show so much, is because I don't know that much. Right. I only have my core competencies. I'll talk to Chris in a second. It's trading and looking at charts or reading the news, but when you get these absolute geniuses who come on here and who are actually building it and in the trenches every day, it just blows your mind. The future and very hard to get caught up. Hard to remember sometimes, especially in a bull market, like how compelling the actual use cases and important this technology is beyond just seeing the number go up. And go ahead and bring on Chris right now. Sorry we're a little late today. We were doing AI things. I know you're in it for the tech.
- [32:30]
Chris
Yeah.
- [32:33]
Scott Melker
So did you see this, by the way? They asked just because the title here, Trump becomes Crypto Billionaire. Did you see them ask him about the token?
- [32:41]
Chris
No, I missed that.
- [32:42]
Scott Melker
I'll show you this video real quick. This is great. Do you intend to continue selling products that benefit yourself personally while you're president? Well, I don't know if it benefited. I don't know where it is. I don't know much about it other.
- [32:54]
Gaurav Dubi
Than I launched it.
- [32:55]
Sujit Roy
I heard it was very successful.
- [32:56]
Scott Melker
I haven't checked it. Where is it today? You made a lot of money, sir. How much? Several billion dollars. It seems like, in the last several days, several billion. That's peanuts for these guys. Oh, man, this guy. I launched a token, you know, I.
- [33:17]
Chris
Mean, you know, it's what it is, right? You get into business and you figure out what you want to do, and you hire smart people to do it, and you make money. Right?
- [33:26]
Scott Melker
Let them tweet. It's so funny. It's so funny. And that was kind of my, like, core premise for. For Trump was like, he doesn't even know this is happening. Like, he's getting inaugurated in two days, man. You know, it's just really funny.
- [33:38]
Chris
He's like, wait, what happened? Oh, hey, I'm.
- [33:39]
Scott Melker
I'm.
- [33:40]
Chris
I'm billionaire now. I can add that. I'm just surprised he didn't say it was the best launch ever. It was the hugest launch ever we made.
- [33:49]
Scott Melker
Yeah, he would have said that about his NFTs. Oh, my God, it's so funny.
- [33:52]
Chris
Like, this guy, you know, hey, man, lots of stuff, you know, he's doing lots of stuff, signing lots of executive orders. Freed Ross Ulbricht, man, that was amazing. So good to see that happen. And just so many executive. I mean, he's really doing the things that he said he'd do, and he's doing them, like, quick, which is, you.
- [34:10]
Scott Melker
Know, not the crypto ones, for the sake of our beloved market.
- [34:14]
Chris
Yeah, well, you know, we'll see what goes on with all that. Right? But, you know, I think the good thing about, about bitcoin is that it doesn't, you know, I mean, we're. We're excited about the possibility of this strategic reserve and what it means for getting other nation states to, you know, all of a sudden decide, okay, well, now we have to do it too. But at the end of the day, you know, the reality of it is, you know, bitcoin doesn't need it to succeed. You know, you still have the bears, you still have the haters. I mean, imagine spending 10 plus years knocking on bitcoin. Well, he's not the only one. There are others. He's just been pretty loud about it. But imagine doing, instead of saying, you know, what? God, let me just jump in here and make some money. Absolutely insane. But. But, you know, you can lead a horse to water, but you can't make them drink, right? And, you know, you see a lot of that. You still have people today that think crypto's topped out right now, that thinks bitcoin's topped out. We're about to break out higher. And then people are thinking that, you know, you just, you do what you do and, and don't worry so much about what, what everybody else is saying out there because especially on social media, most of what's said is going to be wrong anyway. So here's the dollar, here's the dxy, right? Again, I was talking about it likely being topped out. We're looking for a breakdown through that support. We got it. We had a great breakdown. There popped up big rejection, you know, kind of this gravestone doji looking thing yesterday. Today we're getting a little bit of a bounce on it, you know, right here. But ultimately, even if we were to rally up here, ultimately I'm looking for a breakdown through that daily pivot at about 107 and a half and that really kind of starts setting up the move down. You know, our levels we want to watch on the way down are these swing lows at 105.42 and then 103.373. But if this top is in here, I mean, you know, we're probably hitting around 90 to 93 at least. And so, you know, that's gonna, that's gonna upset a lot of people, you know, but what happens is, you know, we had this good run here, this nice strong run here and people get over excited up here, up here in this area. All of a sudden everybody starts talking a lot about the dollar and how strong it is. And I think it was JPM that came out and said they're looking for 5% higher, you know, from here, you know, from up here we found that the hedge funds were the longest the dollar they've been since 2019. I mean, you know, this is crowding, this happens. And usually when it happens, the market punishes you for, you know, for being on that side of it. And so, you know, we, we need some confirmation moves down through some of those levels, but it's looking pretty decent at the moment. So we'll see if we can get that. If you're looking for cheaper money, that's probably a sign cheaper money's coming. It doesn't mean it comes tomorrow. But you know, we can just look at, look at what's going on with the Fed. You know, we came into this year looking for a couple of rate hike, I'm sorry, rate cuts. By the time we came into January, they were looking at one and it being like Q3 or Q4. And then just recently here with the data that came in, the, the cooling off of the cpi, the core CPI especially, which is most important, you know, now they're Looking at potentially a couple of rate cuts again first one being maybe you know even before summer. So you know just people tend to get very excitable at the extremes and I always talk about this and you know you want to be careful when you start hearing everybody talk about something at some end. But yeah, so dxy I think dollar probably push further. We'll see if we can get that. Wanted to bring up the IWM real quick. This is the one. I said that as we were coming down into this, this dip below this, this range here. I was already talking about this looking like it was a re accumulate or an accumulation range. This is the small caps, this is iwm. And I said looks like we'll probably get a dip below here. If we close back up above that then we should, you know, that'll be a spring we can go long. And sure enough it did right here. Man, that was like a 40 somewhat percent rally. We pulled back in three waves here. Almost a huge outside weekly bar here at the, at the weekly pivot. I mean it looks good. I've got a target this 1, 2, 3 up here. So 3 of this larger 3 up around 306. So you know again I got a lot of heck off this. You know as we were going up here especially as we got up toward the all time high saying oh my God, it's going to be just like this here and we're going to die off. But I don't think so. I think we continue up a nice hidden bullish divergence down here at the lower on the weekly. It just continues to look good. So I haven't seen anybody really talking about it during this time other than Tom Lee. You know, I've been talking about it since you know, October of what was it, 2023 which is when we got that spring there and and he's the only other one I've seen really be kind of real positive about. I'm sure there's been other people but he's the only one I've seen make it. So I think it looks good. Bitcoin, bitcoin, bitcoin. We had everybody freaking out on the pullback here. We had this nice breakout retest this past weekend of that descending resistance at support still above the 50 ma here on the daily you break up. I think what we have here, I think we have a one with a flat as a two. And so if that's correct here, that gives us a minimum expected wave 3 up there around 131,634 5 waves up at around 146.37. This is the Bitcoin all time index chart. So yeah, so I mean that's where I'm looking there. But let's zoom in a little bit here. But you know, still watch this here. We still, we still need the breakout above wave B, which just happens to be the all time high there to, to kind of confirm this because it is, you know, looking like a flat there. But ultimately, I mean, man, you know, we're here above the hourly pivot, which is good. We're well above the daily pivot, which is good. We are coming in sideways here between the weekly pivot and the R1. And this is why I said even on the weekly, even if we were to drop here, you know, to 80,000, I wouldn't be going, oh my God, it's the end, it's the top. No, that's just, you know, the big, that's a macro support right there. Nice low volume note. I mean it's, it's the perfect area to kind of dip from if we were to get down there. So not even worried about that in the least as we do this. But locally here I think we're bouncing right around the 15 minute pivot. We're just below that this morning here. So yeah, yeah, kind of looking looks like 1, 2, maybe 3, 4, 5. I was thinking we might get a pullback, get one more push up here. But we didn't, we get this pullback. So likely again going to be like a 1, 2, 3, 4, 5 here. So this is a wave two on the pullback. So I'm watching especially if maybe get down here around 1027-607671-03103,000 around that area if we, if we get that far looking for it to hold and see if we can get a rally up out of that. And that should set us up then to a new all time high so that, you know, not hating it. Yeah, send it. Right, exactly, send it. So yeah, yeah, I think we're looking all right there at the moment. But again we do need the break, you know, if the count is what it is here. We do need the confirmation with the breakout always through wave B which again in this time just happens to be the all time high. So it is what it is. Usually wave B is down a bit further. Since I saw you were doing AI today, I jumped on some AI points real quick this morning. This is Grass Usdt here. And so you know, when I'm counting this. I'm not counting from way down here at the launch. I'm counting from this first pool. Like I usually ignore the launches, whether they're drops or they're rallies. So we get a 1, 2, we get a 3, 4, and then we get a 5 up here. And then we've got what appears to be, I mean the volume and price action suggests that this is a accumulation or reaccumulation here. This is a spring just prior to the daily S1 pivot. You know, we got three waves down, three waves up, and then three waves down here. So WXY correction. So I mean, you know, if I'm looking at this, an impulsive breakout and close on the 1 or 4 hour candle above that 2.449, one should indicate that that low is likely in. If you wanted to wait for a daily candle breakout, impulsive breakout and close above the daily pivot at 2.812, 2, you. If you wanted to wait instead, if you're still really nervous about you wanted to wait for an impulsive breakout and close above the descending wedge resistance, you can do that based on the height of this here $6.55, $8.91. And if this is in fact a 1 and 2, as it looks like here, wave 3 would then have a minimum expected target of 24.84. So a lot of upside potential on that there. I've got arc here. Let me see here. Yeah, there we go. Looks like it's a one and a flat here. So a three down, b three up and then, you know, ABC1, 2, ABC3, 4, ABC5, usually ending diagonal like that. I don't know where my bottom line went, but there we go. So, you know, again, like on the other one, you're getting a wedge there in that, that third wave, that, that C wave or that Y wave. And so, you know, again, hourly pivot here, looking for a one hour, four and one or four hour candle. I can't even say it. Impulsive breakout and close above that $32 area. Or you can wait for an impulsive breakout and close above the descending resistance. Or again, daily candle, impulsive breakout and close above the $80 area. Any of those should signal that the low is likely in breakout above wave B would add confidence to the count. Wave three, minimum expected target $8 and seven and a half cents. Let me see here. I've got Fet. It looks like again, another flat. Right? It's the name of the game. It does appear to be. But you know, again, a 1, we got 3 down, 3 up and then 1, 2, 3, 4, 5. Here we are above the hourly pivot. So impulsive breakout and close above that descending resistance or a daily candle. Impulsive breakout and close above the daily pivot there at basically a $55 should let you know that the bottom is likely in as always, break out above wave B. In this case, that's 2.243. It's going to add confidence to the count. And we're looking at a minimum expected wave 3 target up there at 4.8384 on that from that right there. By the way, if we were to break down below wave two here. Well, this isn't wave two. I'm sorry, Wave two is right here. So never mind, never mind. Wave two is fine, we're good. Only thing it does anything. If we drop down to a new low here, obviously it'll invalidate it, but you know, it could pull back further if it needed to. That's why we're looking for the breakouts through that resistance or.
- [45:59]
Scott Melker
That's the most important question.
- [46:03]
Chris
Yeah.
- [46:04]
Scott Melker
Now that everybody thinks ETH is going to zero and the Ethereum foundation is too centralized and they think Vitalik Buterin's an. Can we finally bounce from the most like fundamental demand zone on this entire ETH BTC chart that I've been waiting to hit again since 2021?
- [46:22]
Chris
Yeah, I mean I, I don't think ETH is done, you know, again, everybody's very, very sour on it. The mood is very. Sentiment is very bad and usually that's what we start looking for when we want to look for reversals. So we've had some bad sentiment, it's given some bounces, but it's really gotten just, oh my God, it's the end of world. There is no more Ethereum, you know, whatever now. And so I wouldn't be surprised to see there being some sort of, some sort of rebound against that.
- [46:52]
Scott Melker
But you know, that's the weekly. There's. I mean there was already bullish ever since but even more building here. Oh my God, I want and all.
- [46:59]
Chris
It'S really done as you can see there is. It's just kind of that. That rally up from that April of 2021, all those big candles. All it's done is retrace back through that.
- [47:08]
Scott Melker
Yeah.
- [47:09]
Chris
So, you know, I mean in the grand scheme of things, people see this on a chart that they on of something they like and they'll be like, oh yeah, what was going to come through then? Of course. And then Here it is here. And they're like, oh my God, it's the end, it's the end. And I don't know, you know, I don't, I don't think Ethereum, strange chart.
- [47:28]
Scott Melker
Strange price action either way. But man, really interesting to be here today. Before you had something else or was that all?
- [47:33]
Chris
Yeah, I just got one more for the folks here. AKT USD. Let me kind of move this in. It's a smaller time frame 1 I'm looking at here. Moving here to the hourly I think again one flat has two there right here. We may get a bit of a push higher here toward $3 and 10 cents or something maybe from there. But either way, as long as this low holds here, we've got a minimum expected wave three target up there at $3.77.5. And you know, as always, breaking out through wave B here, which is $3 and almost 32 cents is going to add confidence to that. But you know, when we're looking at 1, 2, 3, 4, 5 here, the first clue obviously is the breakout. You can see here we got a biggish candle, got some big volume, you know, comparatively locally here coming through that. So that's what we want to see pushing through the pivot as well. That's good. But breaking out through wave four will be that. You know, if this is five ways down, that first real indication, okay, that that low may be in. I mean that's sitting just up there at about $3 and 6 cents or so. But if we're to drop below this, swing low here at $2 and 6 2.693. That would invalidate this idea. As long as we're above that. Looking up there toward 3.78 and wave 5 minimum expected about $4 and 10 cents on this lower time frames here.
- [49:06]
Scott Melker
So yeah, we'll see bull market come alt season coming. I know it's hard for people to see it but man, I think, I think it's gonna be big. Bigly.
- [49:19]
Chris
Well, we'll see if people are actually ready for it. You know, they've been talking about it so long, it'll probably come in and hit them at some point. They won't even be ready for it then. They'll complain that and I didn't say.
- [49:28]
Scott Melker
Everybody'S gonna make money. I just said it's gonna come.
- [49:33]
Gaurav Dubi
Awesome.
- [49:34]
Scott Melker
Guys, you can follow Chris TX West Capital on X. Of course, Texas. It's Texas. WestCapital.com yes sir. Yeah, Texas WestCapital.com Chris and I are talking about some things that might be brewing. So hopefully we'll be updating you on some of that soon, but otherwise, give him a follow and go join and guess we'll see all these wonderful people next week, huh, Chris?
- [49:57]
Chris
That's right, I'll be here.
- [49:59]
Scott Melker
All right, guys, I'm heading over to spaces and of course we'll be back here myself tomorrow at 9:00am Eastern Standard Time. Check out Aptos, check out the Baai guys. Brain alive. Honestly, it's just so cool down in the description and otherwise. I'll see you guys later. Thanks, Chris. Bye.
- [50:18]
Gaurav Dubi
Let's dope.