Could bitcoin crash back below 20k by the end of the year? In this show we bring you the latest crypto news, market updates and ...

Crypto regulation is showing its ugly face. In this show we bring you the latest crypto news, market updates and predictions.

foreign [Music] thank you [Music] [Music] foreign [Music] [Music] [Music] thank you [Music] foreign [Music] [Music] welcome into blockchain basement where we look at graphs and memes from the internet and sometimes we talk about the economic future for the economy I'll do some more in today's blockchain basement you ready for this I'm ready welcome you're gonna screw me at least pull my hair hell yeah they could start chopping off fingers and give me your seed phrase but yeah I don't know how to give the numbers um was like like when it dropped in 2020 was it like exciting four to six hundred thousand the generational signals are now now levels so I don't even know if we're gonna get back below there but if we do that's kind of where we uh all right welcome man we got an All-Star Cafe which I say every day but everybody uh here in the basement is pretty much an All-Star uh we've got the one and only Frankie candles the druth Drew Weider the lovely Ali Lee and the the most desired when he's not here many people in the comments said they were happy with that he's back yes it's the beautiful biscuit Jesus on the board a little little nip shot uh yeah we're gonna we're having a good time today we have a little bit of a pullback Bitcoin coming in at about 26 926.38 Cents right now uh it's it is May 31st we're getting ready to tick over into June I believe this is going to be a red candle for the month isn't that correct Frank we've had five I you may or may not know I I I'm not 100 consecutive green months for Bitcoin going into this year and may you know or may could be the fifth one but I'll have to see where it ends up uh which it's looking really good in the long term bullish we do have uh some more talks going on with the U.S budget deficit or the debt ceiling uh coming up tonight hopefully that gets locked in I think that's why there's a little bit of a pullback right now my anticipation is as soon as that gets voted through uh we see some positive price action to the upside uh that's what we were covering yesterday I think that's the result of some of the positive price action and then now there's talks oh maybe it won't get enough votes maybe it will uh bouncing around there so we'll have to that's I believe that's getting pushed through tonight uh and we're going to cover some of that later in the show we're also going to look at three coins uh that three top all coins that could really boost your gains in the month of June these are three projects you've probably heard of them but they're in a very good position technically uh fundamentally and just they've been around they've got communities that sort of stuff so we'll look at those a little bit later into the show so hopefully uh you don't have to unretire like some Americans are talking about right now um but Frank just before we started you were start talking a little bit about looking at some of the longer time frames saying you're starting to feel really bullish you know over obviously you were a year out now you know from previous all-time highway or we bottomed now we're six months from what a lot of people have called the bottom that you know what 16k something like that uh pushed back above 20. we did Cover previously that this 27 28k ish level in terms of dollars is very similar to the 2017 top like if you account for inflation like we're sitting right on there if you take you know the M2 Supply compared to bitcoin we're sitting right at that top right here around 27.28 so uh I guess I'll give you this if you want to look do any I don't know if you have any longer time frame stuff but just what is it you've been seeing tons of candles in the chat oh and I forgot to give it away we got TJ's chicken salad Balling on a budget love that name Cali crypto dude Mana walk the one and only this is the Bitcoin way out of dice and TJ's chicken salad Michael Moore uh Kino crypto Stevo broke burkoshing you know so shout out to all of you guys while he's pulling that up I did want to go ahead and announce uh we're going to be doing a free claim nft it's gonna be uh it's gonna say sub 15K on there so basically anybody who would support the channel subscribe been here before 15 000 subscribers will have access to get one of these uh nfts I'm gonna make it part of the YouTube membership things just to kind of limit where we put the link because we can make if I once we set up YouTube memberships we can post a link to members only and we're also going to tie a Discord into that I think I alluded to it a little bit yesterday what we'd like to do is set up a basement Discord that we can pull that we will stream this stream in there and pull chat from there in real time so you guys can be more interactive on the show you know obviously we need you to watch it on YouTube as well but the people that are in the Discord you know your comments can be coming in real time much more similarly to so what we were used to with twitch yeah uh and so it'll probably be just like what a twitch sub was will make the a sub membership on YouTube and then if you subscribe there you get this nft you get to be more interactive in the show does the nft look like this no that's pretty cool no I think the nft is just basically going to be a 3D animated uh blockchain basement spinning logo and it'll say sub 15K on there so it'll be like I I just oh always wanted when we had people come up at different meetups and stuff over the years it'd be really cool to have a marker we might do another one at 100K or you know other you know kind of channel breaks but knowing who was here early who's been supportive from the very beginning is always something valuable I mean maybe we'll airdrop stuff there in the future I don't I don't have any plans for the nft it's more just a commemorative like hey I was here maybe we'll do some fun stuff with it um those are good memories man we were all just sitting here wondering like if we're gonna go to 10K or Not Another major exchange is going to collapse on us yeah you know sitting in the dark we thought ethereum had a future yeah it still does TJ let's go Frank let's go all right yeah BJ is the uh Ada Maxi eth hater uh but uh yes uh the sensible one in the office yeah I mean is that that's what you want to call yourself uh but yeah back back to what TJ was saying uh it was indeed four monthly green candles uh and then yeah this one is looking to turn red uh but like he was just saying uh you know yesterday on my live stream I was talking about some of these higher time frames and why I'm feeling really bullish in the long term and the the reason really that I was looking at I'll kind of just uh go hold on go back to that real quick I wanted to hang on that monthly thing because you didn't have that up so Zoom back in and go back back out to where you just were so you can see 2019 so you see the bottom U shape there that's 2019 and we've got one two three four five green candles in a row and then it goes and those are monthly candles and then it the red candles but they're you know one two three you know mostly sideways there for the almost keep going keep going I want to keep going all the way to the end of that range I would you know I just want to see like right there so that's September 20. so almost for you know almost an entire year and then you so this is why if we're entering that chop zone right now like obviously there was some up and some down in the middle of that you know you had some breakouts and some pullbacks but that's what I that's the Zone I feel like we're entering right now like we saw the uptrend we're gonna see a lot of sideways while they're nailing down U.S policy regulation all that sort of stuff and then really a year from now which times out perfectly going into the Bitcoin having it should get it should get a lot of fun yeah 100 TJ I was actually thinking of you last night on my live stream because I remember talking to you in the office and or maybe it was on the show uh you were saying you know how kind of this area is reminding you of this area here where we were between like you know what is it uh six and 10K but just kind of hovering around that level for what felt like forever and we were talking about how we feel like the boring part of the bear Market never happened yep uh and when I was talking about this yesterday in the live stream I was thinking about you and I was like yeah this might be that new choppy boring range uh and but one of the things I was looking at last night uh on my live stream was uh you know when I first started my channel everyone was asking you know when are you going to start DCA in and the simplest kind of strategy that I was looking at was using Market Cipher uh just looking at the weekly time frame and anytime that the money flow was in the red and if you just look at it quickly I'll just go over super quick anytime the weekly money flow is in the red it was essentially the bottom of a bear market like you would have been buying the bottom right here and then you went into the bull market you're in the green came back into the red you literally would have been buying the bottom of the bear market and then we came up into the 2021 Bull Run and now we are in the red here money flow starting to come back up it does look like to me that you know if history does repeat itself even if it Rhymes uh you know it looks like the the bulk of this pain is really over as we work our way up here now like TJ was just saying it you know and it doesn't mean that we're gonna go straight to 100K but uh it does look like you know the horrible pain of the bear Market is probably or likely over um just looking at this and this is like one of like the seven things I looked at yesterday we're back above the 200 week we've bullishly retested and held that level as support which is huge and on top of that uh if I go ahead and show this I'm not going to go over all this but uh this is like a cycle chart that I put together measuring dang that's cool yeah this is really cool this is um I share this in the premium live stream uh premium Discord uh but basically all I did was really nothing that special uh you know I just basically measured the cycle like from the having to the all-time high how long that took how long it took to go from the top of the bull market to the bottom of the bear market and these numbers line up like so eerily similar uh you know from the cycle bottom uh uh the cycle bottom here in this cycle came 777 days after the having and then in the 2016-2017 cycle the bottom came 882 days after the having so almost exactly 100 days longer and then in this cycle uh from the having to the uh bottom if you know that fifth you know 15-ish thousand dollars was the bottom 924 days and then on top of that from the all-time highs to the bottom of the bear Market uh you know in this cycle that wound up being uh 413 days in this cycle it was 364 days and in our current cycle it was also 364 days so in my opinion just from a timing and cycle perspective if hit if unless the four-year cycle is going to completely break the bear Market is is very likely uh you know or the bottom is very likely in and uh we may be starting that boring accumulation phase and then here's that next having and then that is likely where I would expect price to really start taking so yeah definitely feeling both in the long yeah no that's a great analysis thanks for sharing that um oh we got a super chat from American pool guy congrats and God bless TJ and Tim keep increasing the common sense population to the group which banks do you think are going to be ultimately funneled in two that's right so he's referring to Tim Warren also having a baby so yeah we're trying to uh bring more bitcoiners into the world uh when he's talking about Banks things funneling into I assume he's talking about as these you know smaller Banks collapse which banks do we see these assets funneling up into obviously a very uh a clear one is what I'd say look at who owns the Federal Reserve JPMorgan Chase uh City I think is another one that has the most you know those two own the most of what the Federal Reserve is obviously a lot of assets funnel that way uh but the good assets also funnel into JP Morgan and cities actual Banks so those would be two I would keep an eye on I'm sure Morgan Stanley's in the mix and there's a or uh the NY melon is one that not really that's a big one it is a big one it's the oldest bank in the United States and it's extremely you know that who that's who Bank Circle that's who Banks you know a lot of Goldman Sachs uh people close to the middle of the circle are using bny melon and have been for a very long time that's a that's a good sleeper pick good one to keep an eye on so um so there you go another question from uh Joe Ryan TJ would you buy optimism how much I would buy Optimus I have bought optimism uh and actually there might be a story in here today here we go I'll cover it right now optimism token price ahead of a 580 million op unlock doubling the token supplies this is something you need to be aware of when you're buying tokens we talk about a lot on this channel the tokenomics uh 580 million op doubling the supplies is something to keep keep an eye on that being said it doesn't always have an immediate impact a lot of times these unlocks are going to team members uh who aren't incentivized to dump it all right away but it just kind of depends on the project so op yes it's one I'm accumulating for long term uh but when and where you buy it is key I do think it's going to perform extremely well in 24 and 25. uh so I I think I have I want to say around well around 10 000 ish dollars why Dollar Wise right now I'm not sure what that translates into in op but it is one of the ones that I accumulate so if I have extra cash on the sidelines and I'm going to make a buy and I look at it it's in a decent spot like maybe after this token unlock happens maybe I'll scoop some more uh when there's a decent pullback let's see uh let's see where it's coming in right now I would say I'm bullish on op as well the one the one thing is the tokenomics uh you know a lot of people compare it to uh Matic uh but the Maddox pokenomics are much better at least at this point so yeah the tokenomics of the one thing I don't really like but like you said TJ uh sometimes it goes to team members that aren't incentivized to just instantly dump it so it doesn't always it's not always that bad uh but it's kind of hard to judge so uh Chad no I'm not planning to come to Charlotte on the 16th um as far as I know uh but so okay op yeah coming in at a dollar 39 right now I mean from a technical level it's getting close to you know maybe at a dollar Thirty you know even you know technically looks like it's finding some support there but um you know that's something to keep an eye on and as far as those token unlocks go uh in the initial investing period for early investors and contributors ends today that's another really important thing means once they're vested they can start selling and we'll nearly double the circulating supply of tokens uh tokens worth over 587 million of ethereum scaling protocol optimism are set to be released into the Open Market on Tuesday as part of the planned unlock plan leading to the price op tokens following seven percent so this was as of yesterday June 6th Tuesday or yesterday Tuesday yesterday yesterday this was not D-Day no no uh so this just happened and you can already see uh you know the results and the price if you just go let's go to the seven day like boom here you go happened yesterday you know you get to unlock so but this is a strategy where you get a lot of people selling on the unlock the unlock does its thing it bounces from the bottom so you you know if you had a buy order in see I'm it looks like it bounced pretty good right off of 134 which from a technical level when we're looking at this yeah I mean it looks it looks like it dumped right to a support and if you put in a buyer you get accumulation I I don't I like the project long term but it's just something you want to be wary of when you're making your purchases so uh it's just just like you need to be aware of the FED right what the fed's going to do will impact prices um in the short term and in the long term depending on which direction they're going but Bitcoin reaches or recedes to 27k is feds master or semester Meester Meister favors unabated tightening talking about Jerome Powell I don't see a compelling reason to pause rate hikes uh that sentence yeah master and unabated tightening oh yeah um yeah so I'm expecting another raise we've talked about it a lot with the treasury uh Bitcoin ran into selling pressure early Wednesdays after the Federal Reserve official said there's no compelling case to Halt the liquidity tightening the feds unrelenting tightening has rolled risk assets including cryptocurrencies uh We've covered it a lot I think they're going to raise it again the treasury is expected to issue 1 trillion in t-bills before June 30th basically in the next 30 days they're about to issue a trillion dollars uh so I have a feeling that's going to start to impact Market some if you're talking about liquidity it will use half of it to refill its cash by 500 billion in 31 days on pays for a refill as fast as the March 2020 crash in December 2021 top old habits die hard or not just want to make a chart the rate at which the US is seizing or buying Bitcoin the rate at which they're just completely destroying the dollar yeah it's almost like they are planning something that is interesting um huh that is interesting yeah so here here's uh four months to refill in 2020 just brip straight up and this is what and then they've you know basically drew it all down and you know they're running out obviously they're go trending towards zero here now they're about to refill 500 billion in a month uh so I'd like you they drew it down yeah they drew it down that's pretty good um you know something to keep an eye on there see not by June 30 you see physically yeah treasury okay so that was all that here's oh I got a video are you ready for that PJ dessert all right cool I got a Kiyosaki video I don't agree with everything he says but generally speaking he's in the the right direction so let me see if this is gonna be an idiot that is Rich Dad Poor Dad Rich Dad Poor Dad yes I don't think it's any one party's fault I'll just go ahead and say that before we start and then don't talk while I'm doing this right criminal he's a criminal what he's you know his very first act the very first day was to cancel the um Keystone XL pipeline it's the moment he cut that pipeline I'm selling oil at thirty dollars a barrel the next day was 130 dollars a barrel so the good news is I'm getting extremely rich but he's crushing the middle class and by crushing the middle class we could we come to a two-class society rich and poor and that's the basis of Revolution they're going to print so much of this they're going to destroy the dollar this is trash right now so brexit what I do is Brazil Russia India China South Africa Saudi Arabia is 60 of the world's population and that's why I say that through the three times crash number number one is going to be stocks and bonds because interest rates go up it's gonna wipe out these guys my generation with 401ks the worst thing you can ever do you know it's just terrible what they're doing and then the second is real estate so the homeowner you know my generation they bought their home and they decided they bought it at a million and they're upside down in the in you know the debt debt to equity structure and financing and the third is this thing good Kawasaki for president I do I don't like horror films that's all I'm gonna say yeah one of the things I appreciated about his passion and his conviction I mean it is sad to see I mean especially it is interesting he's on the beneficial side of it right and a lot of people are and that's just why they're a lot more silent as to what's going on because it's it's benefiting them look if you hold a lot of oil and it went from 30 to 130 you got super rich overnight you know that's what's what they say with assets like if you held a lot of assets pre-2019 and they turned that money printer on you got super rich between 2019 and 2021 and if you knew that the tightening was coming and you unloaded a lot of those assets at the top like a lot of the smartest and richest people in the world did before the Federal Reserve started tightening their policy you got super rich it wiped everybody else out and now you're coming in right now and you're buying the bottom and that that's exactly what he's talking about is creating this class separation and it's going to create a lot of social unrest and we're seeing it we've seen it in small Pockets already in the United States uh definitely in France you know they're not afraid of Revolution they've done it before uh we're starting to see that more and more in Europe and in the United States and the more we have irresponsible Physical policy it's it becomes an unavoidable math problem which we're going to look at here in just a second now the one thing I will say to Kiyosaki uh this is how I feel anytime I see anybody blaming one political party uh for what's happening in the government or the world this is how I feel it says me waiting for Paul me waiting for people to realize politicians are just unattractive actors doing what they're told exactly that is my political view that is my political view yeah go ahead I have a question for you from Maddie C TJ didn't you say you got out of your 401k a long time ago was it difficult to do I'm 90 10 90 out of 10 leaning to get out of mind yeah it is easy to do and I did get out of my 401k years ago uh Maddie Steve one there's a couple different ways you can do it depends on if you it you know like obviously they get grouped if it's you're within a if it's within your current job and you're within a group plan uh it there's some ways you can change that around but it's going to depend on the way your plan works if you're rolling over if you're transferring if you're self-directed it's extremely easy I would highly recommend we work with I trust Capital I've known the guys there for years they're doing a really good job their security is Top Notch the way that custody things are top-notch it's basically what you would get as a self-directed IRA when you can you know and it it's not the same as a 401k but it will give you this similar tax benefits where you can defer all your your gains from that uh into the future like I said it's a self-directed IRA uh we're just naming Maddie c yeah look up I trust capital and it's just one word I trustcapital.com uh and you can do that I've known several people that have used it and it it's great so uh there you go and I'm having too much fun here you're having a blast well Frankie confirmed my bias what's that so I put a 50x oh let's go it's been going good I'm doing to turn 30 bucks into something crushing it man 40 dollars give me a story someday how you know I'm just uh yeah so I don't know I I just feel like you know we've already had our really ugly moment yeah someone and something is gonna go really bad across the sea and like in the next six months but I don't know man like a lot of people are just going to be sitting here waiting for further down or 19k or something like that and it's gonna be the same thing as everyone waiting for 3K during the panties yeah we're 100K in the bull room are you talking Bitcoin yes in the panties yep uh real quick I do want to come I'm going to come back uh to the story about what the uh policy is doing but real quick we got 265 people watching right now only 93 likes if you guys don't mind stop what you're doing smash that like button uh help more people learn about changing their financial future we really really appreciate that I just smashed the lights please yeah wait I can everybody do we can all be likes together wait I don't know that sounds weird like we're smashing in the basement uh-oh not right now uh okay so this is uh Davis Ax from the all in podcast uh I I have I've mixed feelings on the online podcast I think there's some good information on there some less than good information on there but this was I thought a pretty good breakdown of his analysis of what the FED is doing with the interest rate hiking this is so kiwasaki was breaking down kind of what's been happening up into this point uh with the printing then he said then they're going to hike the interest rates he talked about the effects I was going to have on real estate so he breaks that down uh in a similar way right here I'm just gonna read through this uh Elon Musk was commenting on this the other day uh so he said when the Fed spiked interest rates from zero to five percent over the past year it had three main effects one undercut value of bonds especially long dated bonds now this is this is the scenario we've been talking about with the regional and the smaller banks that had long-term bonds and they were having to take major losses on it they they knew when they raised rates extremely fast that's basically undercutting these assets that a lot of you know that had billions and billions of dollars sitting in them that were going to create huge losses for banks it made Landing more expensive obviously particularly for large purchases like real estate that have to be financed which is the second thing Kiyosaki was talking about there it's going to not wipe out the real estate and it increased government borrowing costs he said these are just these effects are just math and they have to play out through the financial system I think they will roughly correspond to the three stages of financial crisis we're in one small Regional Bank crisis precipitated by unrealized loss on Long dated bonds that's what I just mentioned cre crisis precipitated by credit Market seizing up for new loans and impaired government of existing cre loan portfolios which are also unrealized losses government debt crisis which is what we're starting to experience right now which is the really scary one precipitated by Spike in debt service costs at a federal level budget deficits at a state level and local level and sovereign debt issues at an international level and that's what we're approaching right now especially as we head into 2024 I covered the loan maturation uh or the debt maturation that's going to be hitting in 2024 for the United States where our loan prices are you know going to go what's going on over there I don't want to know yeah I can't I'm trying to talk about something important BJ's dying over there I'm showing our merch oh I see we'll just put it that way I see uh we're seeing uh we're seeing the first stage of that play out right now with the banks the second and third stages are yet to come disclaimer magnitudes are hard to calculate and I make no yeah so he didn't really so he updated this the other day balance sheet risk for mismanaged States and municipalities have been hiding in plain sight 8 in Silicon Valley Bank we've got a one point trillion wall of debt looming for U.S commercial properties Morgan Stanley sees refinancing risks front and center office retail property valuations could fall as much as 40 percent this was he was sharing this as of April 8th another update May 29th LA office towers are selling for less than the amount of debt on them this is true for San Francisco other other big cities as well uh Elon Musk came in and commented on this he's he basically agrees with exactly this and this here's another fun meme for you guys from my new favorite meme account Declaration of memes uh if the government is allowed to break the law during emergencies then they'll create emergencies to break the law they would never be such a thing you know I feel like Kiyosaki has been like on the money but he's been like correct way too far ahead of time right I feel like so he's like waiting for something that is going to happen worse than well um yeah basically you know it's like he he sees the debt bubble coming he's been talking about it he's been exercising look you can create money out of nothing just take more and more debt look how easy this is he kind of it's got an interesting uh history on how he's explaining it to the public what's going on I think he's accurate in what he's saying um but you know I think it'll take a little bit longer than he's predicting to get there I agree um because you know we'll scramble and try to find new use cases for these empty uh buildings maybe we'll put all the uh you know people that are punching people in the back of the heads into the buildings for free and then provide them with all their Necessities on your dollar at home and they'll that'll work out just fine what if Robert Kiyosaki is Satoshi oh yeah uh that would strongly interesting yeah it doesn't strike me as the most technically capable yeah that's how you do it yeah exactly that's a good one uh [ __ ] chemistry Rose asking if we can make some minimal merge just like simple eth symbol on the left chest spot on a hoodie uh yes I I that is something I'd be interested in well we would do it but we wouldn't know what to charge because the fees would be non-deterministic on that shirt oh my gosh that's a good one that's good blockchain jokes are fun um so yeah actually I would like that because I'm kind of into the minimalist stuff too so maybe make some minimal basement stuff um yeah I'm into that idea also buy the basement mug I uh put it in the chat don't you want to take a sip out of that come on um all right couple more things so covering this debt deal just some interesting stuff in here let's see if we want to cover this basically I think we touched on this Goldman Sachs as the treasury Department will have to quickly raise one trillion if and when the debt deal is approved liquidity will be drain from the market to purchase These treasuries funds will flow out of stocks and bank accounts to purchase this debt if investors want it can the market handle it as debt limit talks intents by the US may have Yeah so basically they're having to raise that one trillion dollars very quickly and it's going to be interesting to see where that one trillion dollars comes from crypto Stevo just as a thing breaking news Cumberland halts file coin trading oops exciting get out of here regulatory environment oh I'll drop in the chat and maybe look at it let me pull that up uh regulatory environment that's interesting you gotta do I need to put it in the thing um I can find it there I'll put it in our convenient slack Channel but you got to take me off the screen there you go yeah you know um regulatory environment's been cited for a couple bullets we saw the binance um having to pull out of uh France on a few coins I think is Monero and a few other privacy coins I saw binance kind of hold off on that this morning which sucks to see but yeah it's um it's just this whole gray area that we're stuck in right now in these exchanges are trying to play it safe and keep their their bottom line coming in Costa operational so yeah this is just a OTC desk basically talking about not trading in on as being precautionary due to the regulatory environment uh I don't know if this is the two biggest news or not you know it's not like I mean Cumberland I know TC desk saying this now if they start to get delisted from a lot of different exchanges that's something to keep an eye on um but to Drew's Point like you like he said there is been a big uh regulatory environment obscurity for a lot of projects and I think that's holding a lot of things back and that's go ahead who else feels like that I mean I think we've discussed this where that seems like a very orchestrated narrative in the sense that it's bear Market it's the best time to buy a lot of people are seeing how screwed up the economy is how where our dollars are going so they start looking into crypto and being like okay this actually might be a way out and so they're not really able to stop that mentality and you start creating this massive gray area to where people really do second guess their potential way of getting out yeah but it's like they're obviously not going to ban it they're not going to get rid of it the United States is the largest investor in Bitcoin or investor Caesar whatever you want to call it yeah holder but it's it's not going away and then like I was alluding to earlier it's like there's almost a narrative there where it's like you're crushing the dollar you know you're crushing the dollar you know that you're losing dominance you know where you hold basically the kitty if you will with Bitcoin it's like a controlled demolition a lot of people could say we also hold the most Bitcoin nodes we have a lot of the hash rate right uh I'm gonna I'll save this for well we should get a nice little like plant or like a bush and put it over there in the corner where over here this corner sorry that was a joke everyone missed it yeah we're making all these decisions based on fear you know like every time you make a choice based on fear It's usually the wrong one um I love that you know so to see these exchanges just uh pucker up just just in case you know and it just reminds me of so many things you've seen over the last few years people stand inside just in case right um you know a lot of choices we've made in the recent past uh just from the fear of what might happen from federal Regulators or you know uh the SEC you know just all these alphabet super agencies it really is a a poor thought process to basically just operate in uh in a position where you're just afraid of something happening you know it's the best defense is a good offense so and unfortunately for a lot of us here is the both our government and their the idea they push on a lot of our citizens is to be reactive and responsive instead of pro active and you know be defensive instead of offensive so it's like that classic line it's like uh you look at for example like an abusive relationship and what a lot of people will say is they feared leaving more than they did staying and that's where I think a lot of people are with being in USD and staying in Trad five yeah yeah it's a great way to I mean you know you're a slave to the system but you're comfortable in it and you're more comfortable being a slave to this system than being free in an unknown world where you know complacency is probably the most dangerous drug just saying there you go uh that's what yeah that's why they say salary can be but uh uh all right here we go so part of the debt deal this is this is a very interesting um cabbie there's a lot of interesting little details within this uh raising the debt limit deal but this is one I didn't realize until the other day so as a part of the deal the pause on student loan payments will end likely on September 1. a few facts about student loans at one point I don't know if this is still true but at one point student loan debt was the number one asset on the U.S balance sheet which is why the fact that they were going to say like oh we're just going to forgive it is a complete joke because they can't um but they can talk about it they can possibly can use it to give votes and now they're about to unpause it so payments and interest accumulation pause has been in effect since March of 2020. 1.63 trillion in outstanding federal student loan debt our students in the United States owe 1.6 trillion dollars yeah I think I have an air horn for that that's interesting that's insane that's literally putting the future you know just saddling your future with debt just here we're gonna just load it up with debt and we're gonna borrow against it at an insane rate uh the pause cost taxpayers about 5 billion every month according to the House Republicans 43.5 million borrowers owe an average of 37 000 so on average we're talking about about 40 000 people are owing in student loans 4.8 million Federal Loan borrowers in default meaning they're not making the payments student loan forgiveness plan proposed by Biden is still on the table which the Supreme Court will rule on how many people will be able to make these payments when they start back up this is crazy man I used to be in HR or head hunting and I used to go through I used to you know talk to people about their careers and how to utilize their degrees um and from my standpoint basically half maybe even 60 percent of the people that had a degree didn't use it and were unhirable like in the field that they were trying to get into it's really I've seen a lot uh hundreds maybe even a thousand or two thousand people just basically waste all of that experience and all that time they spent you know they go get this degree and then you just go you know uh bartending because then it's not how would you wanted to do you just went there for fun and to be social and you said and you were told that that's the normal thing to do that's the process you go through the process and then you end up at the end of it with no real uh sociological intelligence or you know no way to actually navigate the workforce because you're just fed all these you know spoon-fed talking points from your professors that are reading out of a book that's 50 years old now you have the internet now you have ai like how useful is an ed is it college education going to be unless you're going to be a doctor in 10 years when AI can spit out information in live time on any question you have basically so it's one of the it's one of the biggest scams ever created in my opinion and like you just said it's it's not just that you're sitting like it you basically get to start off your life now in debt and like you said most people don't use their degrees and on top of that even worse than being in financial debt is you waste some of the most important years of your life that you could be using to uh develop actual skills or go work in an actual field and develop real experience not to just get a worthless piece of paper now obviously doctors lawyers shout out to chemistry bro uh you know if you're if you're trying to be so you're trying to do something like that obviously you know uh education in school comes in handy but like a lot of people like going to school for Liberal Arts or uh you know whatever it is you said I probably won't even use my chem degrees not at first anyways gonna do crypto trading and 3D print business yeah I mean and that's the truth and I think I think 90 of people who do wind up going to college would do a lot better spending that time actually diving deep into an industry they're actually interested in and actually working in the industry following someone who actually did is doing what they want to do rather than listening to like Drew just said a professor sitting in front of a class reading a book that's never you know like your business professor likely didn't ever never had a business right uh like for me I went to college for uh like media and like video production and stuff like that and I was lucky because I knew someone actually doing what I wanted to do and all the people in my school uh that were teaching me had never been on a real film set the guy was working with like I was on real commercial sets and my you know correcting my professors and it's like these people are getting paid a ton of money to sit here and teach people incorrect outdated ideas it's the biggest scam I've ever created uh and especially with the internet and AI it's it's they're in bigger danger than they've ever been great point I mean especially with the internet there's so much more information experience knowledge at our fingertips today and if you know how to go find it and get it and learn from it you can do all sorts of things you don't need to be spoon fed I'll say go back in time a little while pre-internet especially before there was Federal backing for these student loans you can go look on a chart and see exactly when the federal government got involved with backing the loans and the price of college tuition just skyrocketed so if the prices of college were in range with where they were 20 or so years ago then it's not nearly as bad of a value uh misalignment I guess you could say I mean somebody where did it go somebody said you know 1.6 trillion billion that that's not going to assets Investments anything else it's just going into schooling like you were saying Frank like if the average of those people have forty thousand dollars in debt imagine what happens if at 20 years old instead of taking on going negative forty thousand dollars in debt you invested 40 Grand right and you know it started to work you know an apprenticeship or any type of thing like you'd be in a way better position at 32 34 40 than you would be even if you and lost half of your investment even if you invested in something and it went to zero at least the value gain of experience and understanding how things work from doing it uh you could carry that with you for the rest of your life where a lot of times when you're being taught in a controlled environment about things that don't happen in a controlled environment once you get out into the real world it becomes you know not useless but far less useful than you were sold that it would be in my opinion so and and it's resulting you know and when especially when you get this uh really bad Economic Policy we've got this situation now where a lot of Americans are forced to unretire Reckless spending and inflation are forcing many Americans to unretire out of control government spending uh we're borrowing from tomorrow to fund The Reckless spending habits of today uh this if you guys were I was talking about you know people in 2019 they watched the big blow up of their Assets in 2020 and 2021 you know they got hey I have plenty to retire now and then they re you can you can come off of the screen PJ oh God uh tell me how to never mind um they had plenty to retire by 2020. yeah so it's like oh great you know I have plenty I can live on a small percentage of this no problem don't have to draw down on the principal well then all of a sudden 2022 happened and all of that stuff that on on paper they were a millionaire they just you know lost 50 of their portfolio it's like oh now I retired and I don't know if I'm gonna have enough to retire I need to go back to work uh which is just and that's what uh Kiyosaki was talking about extremely sad people that have been working and working and working and saving and saving and saving for their entire life engineering degrees I know uh a very close family member that um you know is engineered agreed and uh they're having to you know look around the workforce even though they did everything right owned multiple homes and then um this out of control spending happened over the last few years they never imagined that they would have to go back in the workforce after building a uh you know in a multinational uh technological Manufacturing Company basically helping from the ground up you know put together hundreds of thousands in uh savings and basically you know there's no uh real Outlook to retire for that person and another person I know is um into medical research and again I mean she's located in the uh hell hole of California that is basically too expensive to live and even though she's upper class top Echelon earner there's no Outlook to uh to retire there and her son and you know uh that wife can't have imaginable life where they own a house and have a baby and can afford their life yet it's the situation I'm begging them to leave uh and go find land that they they can board right out of the gates you know because you know uh a hundred thousand dollars goes a real long way in Wyoming compared to California so you got to think about that too good point um so do you have to run away at two o'clock TJ uh we're yeah we're gonna wrap it I got one more the main story I want to talk about here and well we're going to get to it in just a second I do want to read something from the chat here first or just say uh dagos an amusing topic and I know somebody else who had this exact same experiences I went to college got a business degree while I was managing a business and found most of what they teach is Not Practical and actually running a business uh that was kind of what Drew was saying we're prank where they're like these guys are teaching you what to do but they've never actually done it I had very similar experience where uh you know there's a friend of mine they had a family business that they've been running for years you know he was he been coming up he was going to be taking the business over you know it was his dad started it and his dad's like oh yeah go to school get a degree he said he went you know started learning it and he's like dude I just brought the books home and in three months took everything valuable out of the books and was like all right I don't need to continue paying for this class I know what I need to do let's just go do it right uh it's funny when I don't know like I uh the first paper that I'm technically published on the uh basically it's known as a slipped capital femoral epiphyolysis that's a big term for basically young boys typically when they fall instead of the femur popping out it will actually break at the growth plate or the epiphysis and it will pop out ouch and the paper was discussing a certain uh procedure of basically doing a um elongation of the joint and basically screwing it back together and they were like oh this doesn't work very well because you have a lot of necrosis so basically bone death and I looked at it and I was like why are you guys putting 12 screws in here and all your subjects in here have more screws than bone there and they're like oh well that's not relevant I was like really seems relevant to me like okay like I'm not done with school but how do you guys not see it so back like the business thing it's like how are you guys here doing this when you don't know what the hell you're talking about totally like uh and I did [ __ ] did say still worth it though did it for my mom her smile made it all worth it and that that there's totally good reasons to do it Ben had a similar experience it was more just a personal accomplishment thing for him like I just wanted to do it uh you know as to prove it to myself uh I know I know you got a degree you know similar reasons um practicing reproduction Anatomy 401 top three four oh four oh no okay so if you if you don't want to have to unretire in the future like many Americans are doing right now uh you want to be getting into crypto you want to be making those games you want to retire once and stay retired or at least play with crypto for the rest of your life uh here's top this is a good article on top three cryptocurrencies to maximize your investment returns in June 2023 I'll be really curious there's three coins in here you definitely know all three of them they're all top probably definitely they're definitely all top 100 I'd say top 50 but uh what do you think any guesses on sneaky picks for June accumulation Dylon Dylon Oh I thought you were asking the five best rappers of all time sorry uh let us know in the chat too if you have any guesses top three coins to maximize investment returns xrp's got to be one of them okay you're picking xrp Frank you have a pick uh I was gonna pick xrp but I'll go with Matic I'm addict anybody else any other guesses I'm going Ada on optimism okay Ally any guesses attic I guess I don't know so here we go uh so I one of them was definitely guest top three cryptocurrencies to maximize your investment returns in June while the market participants remain uncertain if the recent growth in the crypto markets is stable or not here's some of the top which have maintained their bullish Outlook boom first okay uh it's been in this looks like a rising wedge pattern here for a little while is that what that's called Frank uh is that considered a rising wedge yeah we're right ascending Channel sending Channel there you go uh yeah it goes it says right there mid to right wait amid the rising selling pressure in the crypto Market the following Ada price will likely plunge back to the sport trend line of the rising Channel pattern start pattern maintains a strong uptrend in cardano price for the past five months and therefore it's lower trend line is likely key support and bullish sentiment around 37 cents so it's getting ready to touch that right now I will say you know to be careful on ta with all coins because Bitcoin still rules rules at all so Bitcoin is also coming down to something similar like this and if it falls through it uh the all coins will as well but here's some again that the top of this channel obviously it looks like it's coming in around closer to 50 cents uh seems about right for cardano uh in the current range ta aside I mean all the stuff that's popping out with Marlo and Marlo's playground um everybody's on that snake right well and snake and the Hydra heads coming it's like I think at some point this will go pseudo parabolic yeah that's the hope I mean Grant there could be some issues and then CIP 0094 the vote for changing the K parameters from 500 to a thousand for the pools uh just got voted on one thing I actually am not positive is does that vote the majority on that dictate what's actually going to happen or was it more of a suggestion if anybody in the chat actually knows that I'm not positive on that now you're talking about the K parameters for the stake pools right yeah so right now it's set at 500 so if you take the total amount of ADA and divide it by 500 that's the saturation point of the pools which is roughly somewhere between 64 and 68 million so once a pool has more than that it has reduced rewards and then people are incentivized go to other pools like B pool or NES pool there you go um if it goes to a thousand that will mean that the saturation point I think comes down to roughly around like 32 million so that's a couple hundred million Ada that needs to at that point be reduced distributed across other pools but it also creates more decentralization and more pools there you go good uh and then obviously let's go my Solana back's gonna come back I dc8 into Solana for a month and then it went to zero oh wow but then I made my money back buying Solana 3x long tokens plus some but accidentally and I know yes big fan of Solana uh this one's a little interesting one because obviously it's got a little bit of a bad rap with SBF being you know so closely tied to it in the past uh clearly not they're not the same obviously um you know but Alameda SPF you know FTX big backers I've had a lot of money invested in it so it's you know it's brand Association at this point um and why I bring up this meme ready to go three times uh Tom Crown appears I love it uh yeah so Salon is an interesting one uh I kind of like it as a sneaky pick I mean look at this all-time chart like I still think yeah some crypto protocol with Rusk will have extreme dominance yeah I mean it's pretty pretty I mean what does it say yeah it's done it is about as low as it could pretty much get at this point I'm not I don't know I don't know what they're expecting to have let's see what are they expecting to happen in June I don't know necessarily I guess they're just looking at it on ta like it's this is a decent descending channel right or wedge uh yeah that is a falling wet following okay so this is a falling wedge it's a falling knife but that's a rising okay I can see why that makes sense never mind yeah they're kind of hard because sometimes they pinch but I'm like no I see it okay so on May 27th Solana price gave a massive breakout from the resistance trend line of the wedge patterns breakout is an early sign for the uptrend resumption of the surge price weekly top of 21.24 oh I'm actually giving away the next one so I don't know I think Salon is an interesting one to keep an eye on if they can break away from that if they can you know obviously all the blockchain pauses not interesting to me on a layer one that pauses all the time um I don't know I just wanted to keep an eye on Michael Moore said let's face it we all kind of like it because we all know it's gonna pump again at some point I know that's kind of how I feel honestly you know it's tied to SPF but look who's our president right now you can expect Solana to make some money yeah probably and I don't know there's just a lot out there though that I feel like is gonna pump and you know is but it it put it this way if I'm in this I would show this when I build I'm probably gonna build like a a smart contract platform portfolio that we could come back and reference from time to time on this channel I would put Solana in that uh I would you know it's just a competitor yeah it's within that discussion uh and by 24 25 it will be probably a higher price than it is now yeah and then the last one this is also an interesting one uniswap um which is this makes perfect sense you just make sense you're okay why do you like uniswap unicorns and rainbows are all the rage these days wow that's true that is true in the month of June they'll probably be offering it at Target aisle soon it's gonna be great Jesus I'm sorry yeah let me see you need uni wasn't interested though like you know well obviously yeah it's got a lot of utility tons of people use it uh and if you look at you know it launched right at the perfect time in you know 21 where it's basically came out there's it was in 2020 D5 summer everybody got this airdrop and just almost just went straight up in a line and then pretty much fell and it's at a really good level right now so if you believe in the you know that it's gonna be there in 2022 now my question is what let me see where's the you know where's the all right 60 almost circulating Supply that's pretty good yeah so if it can if it can get anywhere close to back to forty dollars solid you know 8X or whatever from here um yeah I think it's a good pick again I'm not so sure about this being in the month of June but long term for the next year or two I definitely think this one uh is going to be extremely uh extremely strong so I don't know I'm curious why they think this is going to happen in June according to this article or if they're just doing that for SEO purposes uh because in my mind we're probably going to get another rate hike in June um which keeps things pretty tight I don't see any big breakouts for Bitcoin if anything it's probably like Frank mentioned at the beginning stream staying in a pretty tight range um but those are three strong things you can keep an eye on maybe that's your portfolio altcoin uh projects that have Community decent tokenomics utility uh users uh and that's used to be extremely rare in crypto and in web 3 it's getting more and more common uh and finding and sticking with with those ones that can survive through multiple bear markets it may not be the sexiest pick it may not be your 20x that comes out of nowhere but I think I think if more people that were investing in crypto would get comfortable with a 5x which again is insane you don't get that anywhere else yeah uh then people would have a much better experience if like look you're I'm just trying to hit 5x after 5x after 5x you do that for three or four years you know four or eight years you're gonna be in great shape you don't have to make it all tomorrow or next year or you know the next two years so why did so many people say xrp could be any time in the next few weeks so I think a lot of people you know but they've been saying that for ever years since 2021 people are thinking like oh the case ends in June it's super bullish gets a big pump and then but if that does close within this Flatline Market I feel like we're in right now it's gonna be sick so I'll be I'll be taking profit it's definitely a top accumulator you know that a lot of people like it's a top project they've got uh again same thing a product distribution Community people that have been in this a team that knows what you know what's up in the space and how to get things done so a lot of really really good stuff out there uh we that's all we have time for today JJ Nitro oh and Booth Moshi malaba Mo crypto Stevo Robert Young Eric long Raymond Seth the day Tom Crown Miller shout out Tom crowns say it one more time your mother is creeping uh and everybody else out here we love all of you guys we have a blast hanging out with you every single day buy some Bitcoin spread some love tell somebody the good word about crypto and maybe some Litecoin too um check out Tom Crown's Channel while you're at it and Frankie candles yeah we love all you guys [Music] foreign [Music] [Music] [Music] [Music] thank you [Music] [Music]

Coinbase is the first stop that I got that's where I buy my crypto it's the easiest it has the best branding it's very established I feel safe with coinbase if coinbase goes down or if something happens to coinbase I think that would be very bad it's like detrimental if coinbase ended up havingTo leave the US