BITCOIN: MY PLAN FOR 2026-2030 CYCLE!!!!! 🚨🚨🚨 Transcript, AI Summary & Key Points

00:00 Oh yes, oh yes, yes, yes. Guys, welcome to another episode. And as right now, Bitcoin is still at around 66 65. We're here also at around the 200 week moving average for Bitcoin. And we're trying to get above this uh resistance right here. It was support before, now it is resistance. And just like I wrote on Twitter before the stream, we're currently in a position where DCAing into Bitcoin is uh fantastic.

00:28 Fantastic. In fact, it's been like that ever since the buy zone here, the green buy zone uh that we entered in June. Basically, here's the situation. It is time to be more bullish Bitcoin number one. As you remember, we are bare since October. But but but but now that we are at 200 week moving average in the buy zone now that we are in almost August okay understand it's almost August the time component of each bare market is super important and now it's almost August you have the price component and you have time

01:03 component uh in October we're going to have one year anniversary since we went riskoff since we went bare basically when the bare market started and the year is approximately what you need in order to reset the sentiment Next, you have to understand that overoptimizing here has diminishing returns. Is it possible that we go lower? Yes, it's very possible for Bitcoin.

01:22 It's extremely possible. Why? Because we're still just doing uh lower and lower highs here. You have a situation where you have a high, lower high, lower high. This could still just be another lower high. And the downside we look at is around 40s and 50s. And it's okay. It's okay. D saying here it's still okay. The fall that you risk here from this price is uh yeah like 20%.

01:50 But if you've been buying in the buy zone throughout all of these different levels here for example if you did a buy around the 57 let's say then your fall is just 10%. For this particular buy that's why in the buy zone DCAing makes perfect perfect sense. Even if we go lower, you will not really get too much by overoptimizing here and trying to time the bottom because no one knows where the bottom is going to be.

02:17 So either DCA here, fantastic, or wait for the money line to flip bullish, uh, which is going to be at a higher price, but then you have super certainty that it's Valhalla. It's Valhalla. It is up only like like this. So it really depends if you have somewhere else to put the money in the meanwhile. If you are in AI stocks, if you're doing something else, many people in Bulmania trade AI, they trade all kinds of stuff.

02:37 So, their money is at work. For them to DCA here may not always make sense, but if you're just here for crypto, you're mainly a crypto investor, then DCA here makes perfect sense. And of course, we need to discuss the plan. What is our plan for the coming for years? Because the cycle is resetting. Typically, in crypto, we do have the four-year cycle.

02:56 Although in case the price does not want to do the 4ear cycle, we will not care about the 4 cycle. What do you mean by that? Here price turned bearish on the money line on the daily in October right when four cycle told you this bare market. So the price basically agreed with the four cycle the trend agreed with the 4 cycle. So that's why we follow the four cycle.

03:19 Should the price here back in October just uh kept going up and we did not see any bare trend. just continued up, we would follow that bull trend and we would still be bullish despite the four cycle. You understand? So we mainly rely on the price chart. So when I tell you the cycle for the next bull market, it will all depend whether the price agrees.

03:41 When we speak about for example taking profit in 2029 right here, this will only trigger in case the trends start turning bearish. You understand? If we keep pumping, we're going to still be bullish. But as soon as the trend turns bearish, we're going to keep in mind that really according to 4 cycle, the take-profit area is somewhere here. So the expected trajectory for Bitcoin, in my opinion, what I would expect is something like this that currently we still have a bit of downside.

04:09 That's why we have this box here. We can go to 50s, we can go to 40s. I mean, who the hell knows. But uh at the end of the day, Ding here is fantastic. You you don't have too much downside. By the way, this does not apply to all coins. All coins is very different. Very very different. Allins can still dump 80%. So buying, DCAing, building positions for next bull around the 200 week moving average, it makes perfect sense for Bitcoin.

04:34 For all coins, it does not make sense because if Bitcoin goes to 50s, maybe 40s, all coins are going to nuke. Okay, you're going to have many altcoins lose another 50%. So the the fall there is too much. And uh this statement here does not apply to all coins because yes overoptimizing bitcoin here has diminishing returns but man if all cocoin can still fall another 80% it's uh it's not diminishing return [laughter] so for all coins wait for them to be bull trend and most of them are bare trend so u still a bit of

05:04 downside is expected uh and you understand the strategy here next year should be the rebirth it should be the rebirth I mean whether we just continue sideways here and create something like this or whether we go down here first and then do something like this. This should be the rebirth basically kind of like 2023 uh last cycle. If you look at 2023, we started uh here basically when the money line flipped bullish.

05:30 Uh it was the rebirth. We got the bull trend. We So here I expect Bitcoin to go bull trend on the money line. Uh now it's still bare. It may be bare for the remainder of the year. But here in 2027, I do expect us to go uh bull trend. Uh if we if the cycles rhyme, if they don't rhyme, it's okay also. I mean, we just follow the trend then. Uh but I if we see some kind of repetition of what was before then yes in 2027 bull a bull trend bam uh big pump massive pump I mean from the lows if we measure from the lows the 2023

06:04 gave us a fantastic 100%. So if this is if this is the low here at 57 would mean that we go over 100 uh next year. Uh and the year is quite long. I mean it's 12 months. So anything can happen here. In 12 months Bitcoin can go from um from Fugazi to the hottest asset in the world from something that people hate to the hottest thing in town. So be prepared.

06:27 Be prepared for the bull. The bull is around the corner. Look here also in the 2028. This is where you need to really be bull. Uh I mean here is where it's yeah a lot of opportunity. Fantastic opportunity. And then you have 2029. Let me actually have it like this that we have 2028 here from Jan to Jan. Good. And then 2029 is where you need to be a bit cautious.

06:56 Bit cautious. A bit hard to say here. The last year is always u the the hardest one. Either it's a big fat parabola or kind of sideways like we had here in 2025 where it started at 107 then picked out at 125 and collapsed. So uh that's why this one this one is a bit harder in terms of how much gain. Uh some cycles this is the biggest gain. In 2025 it was not the biggest gain.

07:19 Um but all in all you have the takerit area here towards the end of 2029. uh and uh uh you got to take it serious in case the bare trend happens. You got to take it serious. In case there is no bare trend here, you have a money line just continuing up, then we don't worry about this for cycle at all at all. Uh but if we are to speculate based on previous for cycles, something like this would make sense to me.

07:46 And especially if uh the money line uh is doing the same thing as the for for cycle is saying like it has been doing now for the past uh four years. Turn bull here. I mean literally when the for cycle said it's going to turn bull and then turn bare here. But money line is the boss guys is the boss. Should the money line disagree with for cycle we just follow the money line.

08:08 If we are in 2029 and the thing is just mooning and mooning and mooning. I mean obviously we're going to just huddle. We're going to buy more. We're going to we're going to be mooning. But if it turns bare, holy [ __ ] Holy [ __ ] In 2029, it turns bare and the [clears throat] for cycle is telling you to be careful. Holy [ __ ] Now guys, something else very important for all of you who are part of Bulmania.

08:31 We did publish yesterday a new extension to our education about staying rich. I know for many people it may seem a bit weird to discuss now because most people are wrecked. Uh especially if you haven't been following. Uh it's okay. is okay. But the thing is in the bull market there's going to be such an opportunity to make a lot of money. I mean literally life-changing gains.

08:54 Uh that you need to understand how to protect it. You have a get-rich mode where you ride the trend, you buy shitcoin, you buy bitcoin, you do all kinds of stuff, you try to get rich. If you get your hands on big money in the bull market, which many of you will, many of you will, especially if you follow along, you need to take care of it. You need to understand the opportunity cost if you lose it because sometimes we have uh people joining Bulmania.

09:21 Before you join Bulmania, you have to do a call with with my team so we understand that you're serious that we can help you that uh uh you're going to do great because uh our reputation hangs on you doing great. So we don't allow anyone just you know buy at Cart. You need to speak to our team. So sometimes we hear the stories where the guy says, "Yeah, I had uh 2 million and u I invested in all coins just doing random stuff following some Twitter stuff.

09:44 Now I have 50K, man. From 2 million to 50K and then they come to Bulmania, they they they seek help how to recover and how to yeah how to navigate the market." And we see many people don't understand man if you have 2 million you know that just stry just you know lowrisk stratfi you can expect approximately 10% per year. If you have two million, it is kind of big wealth that could just give you 10% per year, which means that it doubles on average every 10 years.

10:12 So for most people in crypto, they don't understand like in Tradfi just following lowrisk strategies where you could have Bitcoin also, but you have a diversified portfolio. If you have meaningful wealth, it can feed you now. It can feed your kids now and also it kind of doubles every 10 years. That's normal stock market performance through average, not even good stock market, ju just average stock market performance.

10:33 Okay, very important. So, uh we are really focusing right now to get the mindset fully fully correct that if you get your hands on the pot of gold, you don't gamble it in another shitcoin. You you start respecting the pot of gold, okay? Because it's also important. So, if you uh are not on the wait list, get uh to the link below, boom.com, join the wait list.

10:55 We will be allowing more people to join [clears throat] later this week. If you join the wait list, you you will get a chance. Uh so uh right right now and if you want to do something as soon as possible, then also link below do the quiz your uh crypto profile. It's going to tell you all your weaknesses. You got to be fully honest in the quiz. You got to tell exactly how you trade in the quiz fully fully honest.

11:17 Uh let's say how would you describe yourself? If you're not sure, if you're a bit of active trader, then you huddle for long term or whatever you're doing. Say something in between. How do you usually get into a position? You got to be fully honest. So, it's going to basically give you your psychological profile in the market, your weaknesses, your strengths, and how you ensure to not mess it up.

11:40 So, guys, on this note, let's continue. We have a lot today. We have a lot today. You have now the uh clearing the clearing of this ecosystem from a lot of the treasury companies that launched at the end of the bear. Sorry, at the end of the bull, right before the bear that are now getting cleared. It's also a nice signal for potential bottom here because we have Jack Mullers leaving his company 21.

12:03 It has been a very bad company. I mean, I'm sorry. It's been so It's been so bad. [laughter and gasps] How do you say XX? Uh, is it this one? Oh my god. Yeah, this is again mechanical rules, guys. Mechanical rules. Mechanical rules. Mechanical rules. Mechanical rules. Mechanical rules. Oh, he's been so It's basically a pump and dump. He's done a pump and dump.

12:23 He took it, he pumped it, and then he dumped it. [laughter] Now, not he himself, obviously, but the the stock market. H how how man, how how you do like this? How you do it like this? He got many Bitcoin maxes with him him with him here. Captured went minus. Oh my god. Yeah. Crazy crazy. But it's good. I think for for us to find the bottom, we need to see it.

12:45 We need to see more of these companies more or less shut down because the dot the digital asset treasury hype at the end of the bull markets was crazy, man. They they got to go away. They got to go away because they don't make sense. Look here, you have also Mark Mos. Big shout out to Mark Moss. He's doing a lot of content. He's a great guy. But he has a similar situation where he did a treasury company or he backed the treasury company.

13:09 They're now shutting down. And again, I'm not it's not that I'm happy that businesses are failing. It's just that what this is what you need to see at the end of the bear. At the end of the bear, you need to see people close shop. So, of course, I'm rooting for every businessman. I'm rooting for everyone who has any kind of project. So, it's not like, you know, I'm happy because, you know, some business shut down.

13:27 But normally in bare market, you need them to shut down if their business does not make sense. If investors are not interested, if simply idea did not work out. There's nothing wrong with shutting down either. It's actually good to shut down. If you have a business that is not efficient, not making profit, doesn't make sense. It should not exist. It should not exist.

13:44 You just waste people people's time, your employees time. So they do stuff which doesn't matter for anyone, doesn't have any client, doesn't have any. So it's better you shut down. Maybe you do something new. Your employee they find some work where where where there's product market fit. It's better better to shut down not waste time. It's like you have some you know tree or something.

14:05 It's not doing well. Let let the D the new tree grows new new shoot how you say new shoot grows beautiful tree new beautiful tree this old one remove it remove it I mean when you remove a company you you have no space for new company you understand so when something fails something new can grow now this it's a big problem with many VC companies they raise money like the whole thing does not make sense maybe the founders thought it made sense but now they have still a bit of money they try to figure it out I mean does

14:33 it doesn't make sense anymore to anyone but they still kind of survived Yeah, that that that's the worst position. Just shut it down. Build something new. Build new big fat unicorn beautiful company instead. So, just want to clarify because there's always someone, oh, Ivan is happy when do you mean happy? I mean, it's how it should be. It's capitalism.

14:51 It's not socialism. You want communism where subsidized inefficient company subsidized forever. No, no, no. In capitalism, company die. It's it's something to be celebrated. I mean, failure is is not bad. I mean, many people try to do business, they fail. Celebrate. You failed. Good. You learn something now you can do something new. So anyway, this thing is also shutting down.

15:09 They have they have 668 BTC the shareholders uh said return all capital to us and shut the effing thing down. [laughter] See here is where you have a treasure company and their governance I mean simply their governance was not structured in place so that the shareholders have too much power. Okay. uh I think micro strategy has it figured out because I don't think shareholders can tell sailor what to do really the shareholders cannot say hey you know uh shut down and return capital I I don't think that's possible I mean

15:42 that that's is my impression that they structured it in a way where if it's a big bare market the shareholders cannot just uh flip the the narrative uh uh you you guys know more if you know the corporate governance of micro strategy but that that's my impression at least in this situation uh like any normal normal company like normally shareholders decide what happens.

16:03 So this is totally normal. Shareholders say hey give us money back. We don't want to do this business anymore. The leadership needs to follow and that's exactly what happened. But I uh I think I mean my impression is that my strategy they structure governance a bit different. Uh now a bit non-crypto but uh very interesting from a AI perspective. As you know there's a lot of AI investments and uh potential use case here for AI to do movie but without the Hollywood uh politics.

16:32 So here apparently Grock imagine did this ODI odis how you say in English odis odis how you say anyway they made od but with you know actual like Greeks. Okay. [laughter] Now I I understand Hollywood. I understand Hollywood. You need to do this. You need a bit of that. You need a bit of politics. You have donor. I don't know what you have. But this is more, you know, historically accurate.

16:58 Historically accurate. How the Greeks look all of that. And it's full AI. I mean, that's interesting. It's full full AI. That's good. Now, by the way, I actually like the Hollywood odis also. Odicusi. Odis. How you say? I don't know. Uh I actually liked it also. I mean they they did have a Chinese guy there with Odysius in the you know poking the cyclope.

17:16 I mean to me it made no problem but my only issue is maybe Helen. They maybe overdid it a bit with Helen. I mean come on. I mean [laughter] this man why why why I mean it's again beauty is subjective but I personally I don't get tingling down there. And when when people say that she launched a thousand ships then man I don't I don't think so. I don't think so.

17:37 And then not Greek. Yeah. I mean it's they overdid it, man. They overdid it. They they overdid it slightly. But listen, everything else I have no problem. But with the Helen I mean [laughter] why why why anyway so use case. I mean maybe it's a big use case that you have Hollywood making a movie and then a like remakes it properly. [laughter] But maybe it's a big use case.

18:04 I don't know. I don't know. Any guys big shout out. Listen, beauty is subjective. I mean I'm all for kumbaya. I'm all for uh good stuff. So, if you liked or do you say fantastic? I also I like the movie. The movie was good. I like the movie. I like the movie. But it's just that, you know, you kind of want to, you know, with 20 with 2000 2000 2000 2004 Troy.

18:24 I could really see because she looked very nice the the Helen there. And I could really see that it launched a thou. I mean, this one I don't know, guys. I don't know. Let me know what you think. Let me know [laughter] what you think. >> [snorts] >> I don't know. I don't know. Now guys, look here. People saying it's time to buy coin. Dr. Profit Co is saying coin.

18:45 I have bought 1.1 million worth on of Coinbase stock. I can tell you something guys. Uh Coinbase now it's um not good in terms of uh riskreward. If we look at the chart, uh it's very bad. Uh yeah, it's below the 200 week. Now, if you really really believe in Coinbase, obviously for you, it's a big discount. is below the 200 week. But for us, you know, we're not a super believer.

19:07 We just want to buy things that pump. We want to buy things that pump. So, we're going to join this trade a bit later at 215. And at that point, the uh bet here is going to be that yeah, it retries this highs here from uh from last year. It's still a nice nice gain, but I have no special uh you know preference for Coinbase or it's not it's it's not like a I have this close to my heart that I want to DCA here just like uh by the way um Bitcoin is different here because Bitcoin with DCA around the 200 week.

19:40 Coinbase is below 200. But you know it's it's too big of a risk. It's too big of a risk here with uh Coinbase. Why? Because their qu their business is questioned. Uh is it Coinbase or is it Robin Hood? Because Robin has the same thing as Coinbase now, but they actually do it better. They do it better. Vlad is a better executor than Brian in my view when it comes to the launch of the chain, when it comes to understanding crypto, when it comes to many things.

20:05 Now, uh Brian has done a good job good job on regulation. I mean, he's pushing here the Clarity Act all the time. But it's something Yeah, there is there is something that's not really working for them. Um, and I understand that he needs to be this serious person this and that. He cannot promote memes and then try to get clarity act and speak about ethics and be on television in a suit.

20:27 Let me actually listen to this. >> Is there a path to get Democrats to Yes. >> Yes. Uh, the Clarity Act is at the one yard line and it's reflects the the work from both sides of the aisle spending thousands of hours along with their staff to get a true bipartisan compromise. This bill would strengthen power for law enforcement. It would bring new consumer protections and you have to remember the status quo is that we don't have any federal laws protecting consumers or helping this industry get built in the United

20:49 States. So the the status quo is not going to work. This bill is a dramatic benefit to the United States of America and it's time to get it over the finish line. >> And I know that right now is kind of crunch time for this legislation if it can't get done in the next few weeks before senators go on their big August recess. What is that going to mean for the crypto industry if the bill can't cross the finish line this year?

21:10 >> Yeah. Well, like I said, I'm pretty optimistic it's going to get done. It's hard for me to imagine somebody not wanting to vote for it at this point because of all the good work that's been done. It's it's much better than the status quo. But in the event that it didn't happen, sorry, sorry, sorry, sorry. Yes. Now we're back. Check. Check. So I understand that he's a serious persona.

21:36 He needs to be super serious. They cannot go there and shill the Brian meme and all of that. But it backfires a lot. I mean for for the base chain and so on so forth, it backfires a lot. Now still I mean they have the ETF business. They still have Coinbase.com is the biggest uh you know normie crypto platform still. But let's see I mean Robin Hood may take them over.

21:54 So as you can see there are many many many questions here. And for us to take a bet here, it for me it does make sense. When it's bull trend, it does make sense because then not only will it clear the 200 moving average, it's also going to clear these highs right here. Which means that chart is beautiful. The market loves them and we're going to be part of that.

22:13 Now, they still need to prove themselves a bit. So, riskreward for me is not too good. But if you Yeah, if you believe in Coinbase, obviously it's a cheap price. Now, uh look here. Uh this is very important. If you are a tourist in Bali or tourist anywhere else, don't give your phone to anyone. So this guy, he found he finds some women here. [music] They are here.

22:40 [laughter] I mean, I I guess they found some random chicks here. And look here. Yeah. Yeah. Start starts buying them drinks. Starts buying them drinks. tries to get um you know inserted you know where and then gives his phone to one of them. Okay. And what happens? She steals all this all. So she he gives his phone to one of them. She says, "Oh, let me add my Instagram.

23:14 Let me add you on Instagram. Let me add myself on Instagram." So he gives the phone. >> [snorts] >> She sees Phantom and of course to get inserted you know where probably he said I'm a rich crypto dude big mistake man big mistake [laughter] to insert his USB device into the USBC port so to speak probably he wanted to grease the wheels potentially he said I'm kind of a big crypto guy [laughter] [clears throat] and then he said can I insert my USB device.

23:50 She said, "Okay, let's meet up. Let me add myself on Instagram." He gives his phone unlocked. She sees, "Holy crap, he has phantom wallet." Now, this lady, she looks like she's not too much into crypto. Maybe Instagram she's very much into, but crypto maybe not. But but you never know. You never [snorts] know. And so here it started with Yeah. [laughter] And it ended with him asking where's the money?

24:33 Where's the money? Look here. >> Where my money? >> You're like really, you're like a broke [ __ ] >> Look at her face. >> Feeling like come on. This is why white people this one. It's this one. Stop touching. >> There you go. This one right here. Which one was it? It was It was one of the >> She said what she said? She said, "You sent it to who?" >> My friend.

24:54 So So who did I send it to? >> Not me. [laughter] [laughter] [gasps] >> Oh yeah. Guys, listen. When you try to insert your USB device, it may be hard. [snorts] It may be hard to do this strategy with revealing that you're a crypto guy, guys. I mean, actually, don't re if you are in Bali, don't reveal that you're a crypto guy. [laughter] Oh, yeah. Now, and you see, she can say anything now.

25:32 She can say that, uh, yeah, actually, he did this. And I mean, it's very dangerous actually. I mean, if you're a dude, if you're a dude, you know, if she she can say anything to the judge [snorts] and uh judge likely to believe her, then you're dirty ass, you know. [laughter] [gasps] So, hey anyway, anyway, anyway, let's see. Let's see. Let's see, guys.

25:57 Let's see. Yeah, man is crazy. You know, it's ladies, liquor, and leverage that destroys men. Exactly. So, be careful, guys. Be careful, guys. Be careful where you put in the device. [laughter] [gasps] Okay. Uh moving on. Moving on. [snorts] Look here. Look here. Uh Pampan Pampan is um doing uh an update to their protocol. So now they have 20% more liquidity.

26:22 They had some kind of inefficiency in the protocol. All of you guys who are deep into the weeds can tell us about it. [gasps] But what's happening here is that uh they updated it such that all liquidity can be unlocked. I mean apparently before 20% of liquidity could not be used for uh for trading. They fixed it. So they I mean somehow they push it as some kind of you know update if to me it's more of a bug fix.

26:45 They fix that. So so now all of the liquidity can be uh can be used. So anyway that's that. Uh next guys. Next guys. Uh you have Luca coming out saying after months of pain crypto is starting to feel really good. I totally agree. Totally agree. exciting times ahead. Totally agree. And he's releasing a new thing on NASDAQ uh which is very interesting.

27:11 Listen to this. >> You want to know something cool, Kane? Nobody knows this, but I'll share it on this podcast. >> All right, let's do it. >> You know, we made a new financial instrument to basically launch tokens directly on the NASDAQ or the New York Stock Exchange one to one to crypto markets. >> Who's the Wii in this? >> Igloo. >> Igloo, right. Okay.

27:29 Yeah. Wow. Is that happening? Like what's what's going on there? it's happening but I thought I should just share. >> So what's the what's the intent behind that? >> What was really a big issue post 1010? I think post1010 it was very clear that any net new token launches until proven otherwise was a giant mistake. The the second one um is if you look at ETFs and DATs right like ETFs feed drag DATs if there's a premium to MNAV like the treasury holding company acquires that premium.

27:58 Like if you actually think about a token launch, if you should be able to launch something on the New York Stock Exchange or on the NYC and that should be able to trade one for one should be redeemable in crypto markets. And so that was kind of our thesis and we spent a lot of money figuring it out. >> Um so you can take a and list that on the NASDAQ.

28:18 >> Yeah. And the beauty about the structure is it's actually defined as a security and so you can get fees back to holders directly from the platform. So you can do distributions of the protocol's revenue directly back to shareholders. If you wanted, you could sell 10% of the network directly to banker. >> So basically he's saying here that somehow they're going to launch a company in NASDAQ.

28:42 In NASDAQ, okay, through which you can launch you can launch oldcoin. Okay. And it's going to be on NASDAQ. All right. Exact details are yet to follow, but basically this will allow you to create altcoin and via Lucas entity have it on NASDAQ. All right, I guess that the thing that is on NASDAQ can then issue kind of like a sailor has, you know, sailor has the MSTR, he has a stretch, he has like five other different uh house of cards [laughter] that he issued.

29:18 I guess maybe it's going to be similar that his NASDAQ listed entity will do like a share class a share class for the different altcoins that is on the balance sheet potentially. Potentially so yeah uh that's that someone is saying if you're going to flex use a fake wallet exactly [laughter] or if you're going to flex you can add like a view only you know view only mode then you can add like Binance uh hot uh cold storage with billions as view only mode.

29:46 Now look here, look here. Uh uh these days virtually every fintech and financial institution is looking at leveraging blockchain for tokenizing assets. Robin Hood is showing the world how fast a well orchestrated launch can grow. Robin Hood chain launched three weeks ago. 700 million of assets now sit on the chain of which 430 million are stable coins.

30:08 I mean listen, it's remarkable how Robin Hood comes in and they do the corpo chain better than Coinbase and they also do the meme chain also better than Coinbase. uh they don't do the meme chin better than Sana but better than Coinbase and that's remarkable 500 million are in TVL protocols notably 200 million in more for consumption yield it's fascinating this battle of the giant battle of corporate chain battle of trady who's going to win and yeah Robin Hood for now is coming and eating Coinbase uh lunch that's why

30:38 we're saying for Coinbase I have no special you know belief or connection to Coinbase it's uh it's not looking too good if it goes bull trend Good for hood. I also have a similar like I don't have a big you know love for it but it's in bull trend. So we like bull trend. Bull trend is very good. Uh things in bull trend you want. Things in brend you don't want.

30:56 So bull trend fantastic. Coinbase bren Robin Hood bull trend both when it comes to the chart and when it comes to the crypto cryptometrics. That's that. Next. Uh Hayden is saying the numbers going up quickly. The largest RWA real world asset pool on Robin Hood chain is now invidia USDG unis swap v4 pool. So people are trading stocks on Robin Hood via unis swap.

31:22 Okay. And when he says RWA this includes trady assets like stocks. Sometimes people have outdated view. They say that RWA is only like real estate but it's also everything tradfi that's tokenized. Okay. If you are on Solana, you can now trade um uh you can now trade the Intel on um on a backpack. Basically fully backed stock. So when you have the the coin, you're also able to redeem the actual stock if you want.

31:50 Obviously, that's going to be super complex, but it's possible to redeem if you want. Next, look here. Why? >> Oops. >> I say that the frame >> why >> from earlier, which is >> why let's see refresh. Okay, now it works. Twitter glitched out a bit. Uh why Saul is capturing all of the biddler. Listen to this. >> I say that the the frame from earlier which is that it's a global Silicon Valley which is to say it's the most usable, scalable and battle tested chain with the highest concentration of products, startups and

32:31 talent. with Salana I >> yeah true true and a big part of that there's not a corporate chain very important that's why Robin Hood and Bass I don't even see them as competitors to Solana they're not competitor hyperlid is competitor hyperlid is competitor Robin Hood Coinbase these branded chains they're not competitor they are competitor between each other who has the biggest who has the longest let's measure who has the longest um [laughter] corpor chain but for Solana it's different it's different I mean when you

33:08 build something on soul you know that uh no one's going to have any opinion on anything I mean you have your own thing you build it it's not like Sana or to is going to have any opinion if you build if you build on base I mean who the hell knows if Brian decides something he doesn't really like dig stuff and for now they say it's allowed but maybe it's not allowed in the future I mean Listen, if this if the shareholders of Coinbase see bigger opportunity with having a KYC chain to make a lot of money, the shareholders

33:40 are going to decide, listen, our strategy now, and again, Brian, he works for shareholder. I mean, don't get us wrong, he doesn't work for you. He works for shareholders. So, Brian together with shareholders, they're going to decide, okay, uh, if we are to make the most money of from base, let's clean it from all the crap, from all the dig, let's have it pure corporate chain.

33:55 It can happen at any point and they can do it because they have the sequencer, they have control of the sequencer, they have control of the infra. So you are at the whim of the shareholder if you use a corporate chain. The same thing for Robin Hood by the way. So they are laring as you know this oh come do fun stuff bidded bidd let's let's bidd meme I love meme like Jay says I love meme.

34:17 What do you mean you love me? You today you love me tomorrow shareholders say they don't love me. They see bigger money in being a pure corporate sh. Anyway, very important to to keep an eye on this. Uh, now speaking about base, they do have more for now building more stuff. Fixed rate loans are live on base. Blockchain is for global finance. Good, good, good.

34:36 I mean uh this is the kind of stuff that they like, you know, like loans this uh legit quote unquote use case. Um, now uh he's saying Jack Mer he's >> Hey everyone, I have decided to step down. >> Sorry guys. Sorry guys. You see the button does not work. >> I'm clicking. I'm clicking >> myself. >> I'm clicking. I'm clicking. It doesn't work. I need to reload.

34:59 Man, Twitter. See, this is this is my problem with Twitter, guys. This is my problem with Twitter. Nikita. My Nikita. [sighs] Oh, Nikita Beer. Oh, he's supposed to be this genius product guy. The genius product guy. He is mismanaging the Twitter product because he is like trying to compete with YouTube with video but you know Twitter video you know it's not as good.

35:29 It's not as good. It's very bad. Like it's not as good. Yeah. I I I still upload on on Twitter because people still see it. But I upload video I put timestamps. The time stamps they're not seen in the timeline. So it's not even it's not comparable to YouTube. I if I watch video on Twitter on my phone and I lock the screen the the sound disappears like you cannot listen to it in the background which I think maybe they now fixed potentially they now fixed it but for the longest time if you want to watch long form content

35:54 on Twitter you cannot do it because you lock the phone you go for a walk let's say it shuts down shuts down uh so he is trying to compete with YouTube on video he's trying to compete with like um Substack and other stuff with this like paid article long form article. It's man, it's so much you're trying to compete and you know that when you do everything you and you're not good at anything is the worst product mistake you can make as a product manager.

36:24 You're you're you're nothing to to everyone like you you're not really a you know tier one video. You're not tier one article. So I mean the best thing for Twitter would just be focus on what they're best at which is this you know micro blog tweet stuff. Okay, good. But no, you got to do everything now. The freaking button. I try to click the button.

36:43 Stop. Stop the sound. I have people watching here. They don't want to hear the sound now. Doesn't work. Man, Nikita, why it doesn't work? Why? Why your play button? Even the play button does not work. Okay, I'm trying to stop it. I need to reload the page now. The play button works. Okay, I'm trying to manage an audience here. >> Hey everyone, >> I have decided to step down as the CEO of 21 Capital.

37:06 I wanted to tell you that myself in my own words because you deserve to hear it from me directly. When I helped start 21, I thought we had an opportunity to build something very specific. >> By the way, guys, by the way, guys, uh we may be doing something wrong here because someone wrote on Twitter that Jack Mullers made $150 million from uh being CEO for like a year and and delivering this chart.

37:35 [laughter] I need to double check that source. I need to double check the source. But I saw somewhere that Jack Mhler's compensation for doing this was $150 million. [laughter] I'm like, man, what is this? We should be CEO, guys. What are we doing? We're trading. We're trading. We should be CEO. What What is this? [laughter] >> Not only a company built on Bitcoin.

38:00 Not only a company >> anyway, he's going to [ __ ] here. Why it's like you know yeah I'm so sad you know we built something great what you man what do you mean you build great I mean what what is this [laughter] CEO only job make chart moon okay we're living live capitalism capitalist chart needs to go up man chart needs to go up it went here it went where down so you can speak here the the result is the result man the result is the result >> for bitcoiners and it's the right thing for me this experience and Making

38:34 this decision has brought me back to questions that matter the most like why has Bitcoin been my life's mission for the last 14 years. What do I want to build? Who am I building for? And maybe the simplest but most important thing that I learned through all of this is that I'm at my best and my heart is most full and I'm able to contribute to the Bitcoin story most fully when I pour my energy and my blood, my sweat, my tears into building tools for Bitcoin and Bitcoiners.

39:07 Period. That simple. I want to be >> Yeah, I mean I can understand that. I mean here he used to do some you know this fugazi like sailor with you know trying to raise money but man come on man [laughter] come on man Bitcoin did not fall that much how can this treasury companies collapse this much I mean they do some kind of dealing uh with the money like they where they waste the money where they waste the money let me see here the guy that said that he made 150 million from this yeah here here here got paid 150

39:40 million and the stock is down 90 plus%. So let's see Jack Mhler's conversation 600k [clears throat] per year now and this I mean obviously I I'm okay with anyone making money it's just that it's an interesting lesson it's an interesting lesson uh here with uh this compensation so I I have no problem like if the shareholders agree good uh now I don't know if shareholders like this like it uh there is obviously responsibility so yeah shareholders maybe don't like it they can they could they could take legal action

40:12 against management I mean they could but anyway So big equity grant options for 3% of fully listed shares. Okay. Total reported compensation vast majority from equity options. Okay. Fully diluted shares. Yeah. I mean Okay. I mean to be fair to be fair it's a bit of a clickbait because if everything is down if everything is down now 90%. And and it's options which means that uh I mean options normally also have to pay for them.

40:41 So it's it's like a bit of a discount but you still have to pay and the options could be worthless. I mean if the stock falls 90 plus percent all options could be worthless. So on paper you may have big compensation but you could be out of money in the options fully. I mean it's like you work let's say you work you join a startup and they give you employee option.

41:01 If the start of valuation in the next round that they raise or at liquidity event is uh low like it's below your option uh uh price that you have to pay to get the stock you're out your options are worth zero I mean let's say you join a startup their stock in the last validation was worth a 100red but you because you're an employee new employee you get an option to buy for 50 but you still need to buy at 50 in the last round it was you can buy at 50.

41:34 Uh now in case the company doesn't do well, maybe you know the price of the stock is 20 you but you have an option that says you can buy at 50. So it's worthless. So you understand? Okay. To be fair, to be fair, a bit of clickbait. If everything fell down so much, probably his options are worthless. But if you guys have any insider, you've been following the insider meaning that you've been following the stock more and the developments more, you know, more.

42:00 But um yeah. Okay. Uh that that makes sense. Um it makes more sense that than 150 million compensation for talking in a wardrobe doing some CNBC interview and the tanking the chart 90%. Man, then if I would be shareholder, I I would be a bit upset man. I would be I would tell Jack, listen, Jack, send me some. I mean, listen, what do you what have you done?

42:21 You still sit in an empty wardrobe. Okay, you've done one interview on CNBC with talking points. Yeah, Bitcoin's going to take over. you know, big big big vision for Bitcoin. Big big big you did a badass comparison to your to Micro Strategy. How you're different from Micro Strategy, which is like the same thing. I know it's the same but worse. I mean, Mic Strategy is not dumb that much.

42:46 I mean, Sailor is like a god in comparison to your performance despite all the stretch thing and everything. [laughter] And yeah, I mean, 150 mil if he got cash, man, that would be very questionable. Now if it is more okay you have option to buy in the future and if a discount and you know you save 150 million in the future if you buy and the company is worth a lot okay great great anyway guys moving on moving on that's that uh for a bull market is good we need we need this uh companies to die die off so new can grow

43:16 in bare market you need you need this stuff to die off it's normal it's normal it's good it's uh capitalism old stuff no one needs needs to die new stuff that everyone needs needs to come online so That's I guess what's next. [gasps] Okay, so Yakimash, Kazakhstan, Borat, not Borat, but uh look here, Balaji. Not Borat, but Balaj Balaji is doing his like network society.

43:42 I haven't been really following here. Network state. It is supposed to be like a new country or something. Uh I haven't been following too much, but now he's going to do it in Kazakhstan. I'm privileged to announce that memorandum of understanding has been signed between Republic of Kazakhstan [gasps] and Net School. Our new campus will become a haven for global techno optimism with expedite visas.

44:03 Oh, there you go. There you go. Okay, there you go. I thought he wants to do like a new country or something. But uh yeah, like a tech now it's like a tech hub in Kazakhstan. That's good. Ah, okay. It's just music. Anyway, so they here they sign. Fantastic. Fantastic. Yeah. Let me know if you're from Kazakhstan. Yeah. I mean, many things are happening in Kazakhstan actually.

44:30 You know, it's I mean, from my understanding, Kazakhstan is developing a lot. A lot. They get so much talent from the Russians that want to flee the country because Russia is not the best place to be now. And yeah, I mean, nor I mean, it's not the best place at all. At all. [laughter] Okay. Uh for many different reasons. Let's let's not get too political.

44:52 There are many political opinions here. But yeah, they get a lot of talent from uh uh professionals, smart people fleeing from Russia. That's number one. They're smart. They're smart in uh using their position. China, Russia. It's Yeah, as far as I'm saying, they're doing great. They're doing great. And now they have Balaji. Balaji also. Very nice. is Yakamash Kazakhstanian.

45:22 That's what Bor says. [snorts] Now, some some guy told me it's Polish. It sounds a bit Polish to be honest. Yakamash. Anyway, uh guys, there is some issue with OpenAI. Their model apparently escaped a secure test environment and hacked a company hugging face to cheat on evaluation. Basically, it found some bug is escaped. [gasps] Uh, yeah, I'm a bit skeptical about this, you know.

45:51 Oh, it escaped. It's escaped. Oh, it's so dangerous. It escaped. I'm bit skeptical because normally they try to pump up their valuation by doing this. But at the same time, at the same time, so basically what is it? Uh, to win they broke out of their sandbox using an unknown zeroday expo. So they found a bug in this sandbox environment like in the code that that basically puts it in like a virtual machine more or less like know like a a environment where the model can run.

46:22 It has no access to internet and I guess they test the capabilities of the model in this environment it found some bug in the environment. It reached the internet then broke into hugging face to steal the answers. Okay, that's interesting. That's interesting. Hanging has caught the attack itself and interestingly a leing US lab leing US labs a guardless got in the way.

46:48 Okay. So they res resorted to defending themselves using a Chinese open source model. Wow. That's Wow. Okay. Okay. Okay. Let me digest this a bit. I'm just reading it here. Okay. So in this case this actually happened. So it's not just you know marketing that oh no it escaped for the longest time they did so much you know some random mass they say it's escaped it broke out.

47:18 Okay, here it actually broke out, okay, from this environment where it was supposed to be tested, went to the internet, found all the answers to this test questions, but then to stop it, like to stop the attack, but you know, you why why don't you just shut off the process? AI, it's it's a you know, you can shut down the process. You needed the Chinese another AI to defeat this AI.

47:44 I don't know, guys. Let me do a bit of research here. But you know AI is like it's it's a process. It's a you shut it off. It's shut off. Any AI uh genius in the chat? Uh let me know what you think. Maybe it is like this. Maybe we are a few years away from um what is called this one? Skynet. Skynet. [laughter] Uh yeah interesting stuff. Let let me let's actually chat a bit with Grock on this.

48:11 Let's chat because I'm very curious. Okay. Uh, what was the Chinese model used for? To shut down the open AI model. Well, let's see. Let's see with uh Grock in real time. What's happening? Chinese model was not used to shut down. Okay. Hagging for use forensic analysis and instant response. Ah, okay. Okay. Ah, okay. Got it. Got it. Got it. So, okay.

48:42 that it makes sense. But I was thinking why don't you Chinese model to like defeat the shutting down model you shut down processes is is is shut down. But but but to do forensic analysis like to understand what happened they needed to use the Chinese model. Why? Because anthropic due to trade export restrictions don't allow you to use anthropic like cloud models for cyber security.

49:10 So they could not use cloud for cyber security stuff because cloud is crippled. It's not allowed to do cyber security. So they just pulled this Chinese open source. Is it open source? This one is is let's see is open I mean you see this big question this a this American AI labs what their place is if they cannot be but it's open source [laughter] very interesting guys I mean this is this space is fascinating it's fascinating so they use an open-source like free model from China to understand what happened and write the

49:49 uh incident report. Okay. Hugging phase used for forensic analysis after detecting the bridge. The first tried a leasing US frontier model like claude but Claude said I cannot do it because I'm restricted lobbomized woke ass model. Okay. Those models refused to process real attack commands, exploit payloads, etc. Swagging phase switch to open weight model running it on their own infrastructure for full control.

50:16 analyze over uh 17,000 logs footprints. There you go. There you go. Okay. So, uh shutting down the open AI model was easier, right? Uh you you can easily shut it down, right? You kill the process and it's out, right? This is the key. They need to This is where they need to pay attention in case it Okay. Okay, man. Wait, wait, wait. The rogue open agent, guys.

50:59 It's Skynet. Holy [ __ ] It's Skynet. It's Skynet. If it's hard to shut down, it like replicated itself. Many processes is okay. So it had already escaped the sandbox via zero day exploit gain access and was actively attacking killing. Okay. Okay. Hugging face detected the bridge quickly. Okay. Okay. Okay. So wait wait wait. So so so practically let let me ask.

51:30 So practically uh it made itself into many processes or or what uh how it survive process shutdown. Let's see let's see let's let's see what it says. Let's see what it says. Man, we were doing a thriller. We're doing we're Sherlock Holmes here. Exactly. Just unplug it. You go to terminal. You click kill. You know kill process. Kill P. Not exactly in classic mode but close to the model ran autonomous agent designed for it's used okay it didn't survive by forking endlessly like instead it achieved this goal quickly by

52:15 okay okay okay okay kill the original test instance but so it was easy to kill so it was easy yeah It's fascinating. Okay, now it says it's okay. It was easy to kill once detected. Okay, good. Good. Also down here, shut down. Okay, good. Okay, so it was easy to kill. So guys, no Skynet. No Skynet. We're good. We're good. Some geek open terminal and said kill P.

52:44 Then he found P and boop. It's out. It's out, guys. Uh, moving on. Moving on. We have so many news. What the hell, guys? Look here. So, and by the way, you see this the problem with I asked the same thing twice. gave me two different answers. First said, "Oh no, it was hard to shut down." Then said, "Oh, yeah, it was actually easy. [laughter] Maybe Grock is a bit [ __ ] I mean, you have open AI now like escaping.

53:08 You think Grock still what is this?" You saw I literally asked it, "Is it easy to kill?" said, "No, it was not easy." And I said, "Is it easy now?" Yeah, it's easy. It was actually easy. Okay. [laughter] So Jack Jack what he's doing he's doing a new Slack a new group chat platform for teams of people and agents of all sizes built to reduce our dependency on Slack and GitHub Buzz X YZ let's see should we use it where people and agents work together okay okay but in Slack you can integrate everything but yeah it's you

53:48 need to integrate it's I I will try it later on. Maybe it's interesting. Communicate with your team. Bring in your But you can you can do it in Slack also. I mean, you can do it. But yeah, to be fair, I tried bringing agents in Slack. It wasn't too good. Uh some news about stocks. Oh, yeah. Look here. Look here. Look here. This is important about AI rotation into crypto.

54:11 Listen to this. >> What's happening now is the market leaders, Google, etc. Meta, they're borrowing hundreds of million billions of dollars. >> Yeah, that's interesting. >> And there's already a private credit problem right now, right? So, you you you just layer on private credit like um Al Capital getting all the um refunds and then you you know, you have these huge companies that have cash flow, but there's you know there's spending all their cap cap um cash flow on capex and then they're borrowing on top of that.

54:40 That's bonds, right? That's planning for perfection, right? >> And that's going to be hard. And we're building these data centers and you know if there's a price performance curve on AI that minimizes the power requirements there's going to be a lot of data centers that are going to be turned into pickle ball courts. >> Interesting because they just can't get the power turned on.

55:00 >> No. And then just the power just everybody thinks that okay there's going to be so much more utilization and there will be right it'll just scale like everybody expects but there's going to be breakthroughs in technological breakthroughs as well just like we saw fiber back in the day. It was all about putting in fiber. Then it went from 1 gigabyte fiber to 10 to 100 gigabyte.

55:18 And then there wasn't a fiber problem anymore. There wasn't a bandwidth problem anymore. >> Quite the opposite. We had dark fiber that people >> used. Yeah. Pennies on the dollar >> and just sitting there, right? And how is it not going to be the case that we don't get the same price performance improvements on the AI side and on the data center side.

55:35 >> Yeah. And then with all the hate going against the data centers, I think that could be, you know, protecting them. And I mean, spending committing tens of billions of dollars for 10, 20 years going out. >> Yeah. >> I mean, nobody >> Yeah. By the way, I agree here. I I fully agree with Mark. Now, Mark, he's the king of the tech bubble. He's the king.

55:56 He know I mean, this guy, he knows what he's talking about. He built Broadcom with Broadcast.com some forgi thing sold it to Yahoo billions right before went [laughter] to zero. Oh guys, that's why for AI Mark is the best person for crypto. He's not the I mean he he's sometimes crypto he he's successful guys but for AI I think he he knows what he's talking about because it's very similar.

56:22 Yes, AI is going to be great. can change the world. But there's so much investment in all of this stuff that is supposed to be so long-term investment. But again, what happens if new models come? What happens if uh hardware updates now this data center cannot uh serve serve that? What happens if this and that like you know who the hell knows what going to happen next year?

56:38 They're planning 20 years ahead. So what happens if we all run AI on our phone? I mean that's another thing. You need all this big data center if everyone is using the centralized you know big models but there's a lot of issues with privacy a lot of many issues like you know you you send all your AI stuff to all your AI used to a data center why you could run it on the phone I mean that's what Apple is betting with um like a ML engine machine learning engine they had already like since five years ago with preparing I

57:09 mean Apple even before this I mean even before open AI before chai gypsy I remember Apple releasing this you know ML engine run model on iPhone. So yeah very soon probably you can run a lot of these models on iPhone now probably not possible because you need so much but again everything improves it becomes more efficient and also what's your use case man most people they used to you know organize meeting organize document I mean the simple task the simple task can you run it on on locally on device you could so uh

57:40 anyway it's going to be fascinating fascinating but we just follow the trend so as soon as soon as you see AI companies boop down crypto boop up. Fantastic. Fantastic. Fantastic. The rotation is going to be upon us. Apple M7 1 point. Is is that the some of the latest? Uh to be fair, I don't know the like what the Apple is doing the latest, but let me check this one.

58:07 M7 Ultra Chip AI Blackwell AI. Exactly. Exactly. See, we don't even know how the AI is going to be actually rolled out for the everyday person. I mean now everyone is just using this you know cloud but uh if Apple let's see here's the genius of Apple man I love Apple because you think they are [ __ ] and to be fair Siri is [ __ ] now I think they improved it but I don't use it look at the Apple chart man look at the Apple chart look at the Apple chart holy crap it's bullish while all of the AIS are kind of bare let's

58:41 look at like the two week chart let me look it's beautiful chart is so beautiful Apple alltime high you without participating in all of this AI for fugghazi really with in the in the same like reckless more or less way they do their thing they do iPhone the same iPhone every year good they bump the number now it's one one number higher it was 16 now it's iPhone 17 good people buy anyway good I mean I buy anyway I mean I I want new iPhone every year I mean why not it's great it's great it's uh fantastic and AI we don't

59:12 need AI listen it's easy there are now Chinese open source Apple doesn't even need AI, you know, from in the same way that everyone else invested. And they have their own way here of um seeing the future where it runs on your uh yeah, inside your iPhone, I guess. Uh memory AI perform monster offering could depend on memory shortage, easing, this and that.

59:41 Yeah, you can read more how this ultra chip designed to support 1.5 TB of unified memory. push a performance towards the class of Nvidia's black. I mean, look here. Look here. Look here. It's like going to be better than Nvidia or the same but more usable. But whether they love Yeah, you can read more here. I I agree. I mean, we don't know how we're going to be using AI in the future.

01:00:04 If Apple says, "Hey, Ivan, look here. We have clawed, but you don't have to send your data to Anthropic. It's all on your iPhone. Sign me up, man. Sign me up. Sign me up. I would rather have it in Apple. I know people say Apple, how can you trust Apple? I mean, listen, at the end of the day, who you need to use a phone, but you're going to be using otherwise you can be using this old school, you know, with, you know, the old school, not smartphone.

01:00:31 Just pick up the the thing and uh do this round thing. [gasps] You need to you need to use some phone. Okay. Huawei Chinese. Who else knows what's happening? Don't don't touch. Don't touch Google. No, no, no. Google know this Android uh oh no I you should go open source and guys listen I don't have time to like tinker with my phone to make it like perfect you know I'm not uh you know I do trading I do crypto I do markets I do business I do the streams like you want me to sit there set up uh set up stuff uh you know

01:01:01 open source uh uh be fully outside of uh civilization you know set up be this paranoid uh um Android or self-hosting, you know, kind of guy. No, no. I mean, I'm sorry. It's not it's not practical. If you're a mega geek, you have a lot of time to tinker with everything. Configure m Okay, good for you. Good for you. [gasps] Rather, okay, Apple. Who is team Apple?

01:01:32 Where's team Apple? Who's the new guy in Apple, by the way? I forgot his name. Team Tim Cook is out. team. Uh, Apple CEO John Termos. Termos. No, Teros. Teros. Not Teros. Teros. John Teros. CEO designate set to officially. Okay, good. John Teros. I need to remember Tim Cook was easy. Tim Cook. John, man, it's too complex. John Tanos. Let's see if I can remember it.

01:02:04 Anyway, so that's that guys. Let's go to Q&A. Oh man, we're we're above 1 hour already. Time flies. Time flies. Ivan, I've been watching you for several years. Have you seen people's reserve and their opportunity for people to purchase homes using Bitcoin's collateral? They have a loyalty token. Good, good, good. I mean, good that you can do more stuff with with Bitcoin.

01:02:23 But check what happens if Bitcoin dumps 80%. If Bitcoin dumps 80%, what what happens to your house? You get margin call or what? because it's it's a bit of a problem. I mean is is I like that you can use Bitcoin for more more stuff. It's good. [snorts] The problem is if it dumps 80%, I'm not sure this, you know, people's reserve if they're going to be too happy and maybe they're going to demand you to pay.

01:02:49 Okay. And Bitcoin can uh dump easy 80%. I mean now we're already like way into the bear. But let's say if you do it uh if you do it uh in next bull market uh yeah no margin call. Okay, that's interesting. The guy says there's no margin call. Okay, so if you buy your house and Bitcoin just goes to zero, they just take the loss because they believe in Bitcoin so much or what?

01:03:22 They allow you to buy house with Bitcoin as collateral. And if they don't give you margin call, then they believe in Bitcoin so much that they're okay with keeping it even if it goes to zero. It sounds like like science fiction, but maybe maybe it is like that. Maybe it is like that. But it sounds uh like science fiction. But listen, if if you're a Bitcoin believer and uh yeah, if people cannot pay uh if Bitcoin dumps and people cannot pay the margin call, you don't have any margin call and you just tell them, "Yeah,

01:04:02 listen, I I keep your Bitcoin." Okay. Okay. I mean, maybe it's it makes sense. [snorts] Loan is collateralized. Yeah, but Bitcoin is collateral. So, Bitcoin goes to zero. But yeah, interesting stuff. Interesting stuff. Um, check out the quantum treasure 7 wallet says it's quantum capable for protection. Let's check. Let's check now with Gemini. We We're going to use another AI team cook.

01:04:36 And now we switch topic to treasure 7. Okay, let's see. Gemini tells us treasure 7 is marked as quantum razor but it's important to understand exactly what that protection covers. Ah okay okay okay. So basically when bitcoin updates to quantum proof then treasure will be able to handle that new type of network. You don't have to replace treasure. But now Bitcoin is not quantum proof.

01:05:15 So it's not like treasure can help you with anything. Bitcoin is still I mean no matter how treasure works, Bitcoin still works in in the non-quantum proof way where you reveal your your private your public key when you sign. You sign with your private key that's not revealed obviously but your public key is revealed when you sign uh and you publish transaction.

01:05:36 There's no way Treasure can hide that. So until bitcoin upgrades to quantum proof, treasure will not protect you. But but but but treasure itself does does not have to be replaced when quantum protection happens on Bitcoin. So the most critical aspect quantum resonance is immutable factory level board loader. There you go. To verify. Okay, good. Protection against malicious updates.

01:06:03 Good. So no immediate script immunity. No postquantum address types. Yeah, because Bitcoin doesn't doesn't support it. Bitcoin uses the uh this elliptic curve, normal elliptic curve, which is uh uh which is not safe against quantum. Instead of needing to buy a brand new hard wallet when the quantum thread becomes real in 10 to 30 years, the treasure 7 is built to safely receive and run postquantum firmware.

01:06:30 There we go. So to summary, to summarize, uh it doesn't help Do you find tre treasure better than ledger? [snorts] I mean in general treasure has a cleaner reputation in general. Ledger they are it's a bit weird like they they don't understand their client. It's so weird all of the uh controversy around Ledger. I mean for two reasons. Number one, they leak all the emails several times.

01:07:06 They leak like their customers. They got hacked. Their marketing email list got hacked. So that's number one. Like you you got doxed. You got doxed. And not only one. I think it was several times. Please confirm in the comment section. But I believe it was several times that they doxed their clients with like full address like physical address etc etc.

01:07:29 But that's I mean that's that that can happen to Treasur also. I mean to be fair it can happen to any company that their infra is hacked. It can happen to any company. It's not a excuse. It's still bad but that can happen to any company that they they're hacked. It happens all the time. So okay. Uh but the worst thing is that they don't understand their clients.

01:07:49 They push all of these updates to Ledger where you can like recover your keys. I don't even know how it works. I don't care to learn because it's like what are you doing? they they have many of these you know you can uh make like key recovery and people are asking oh sorry man Twitter it's this autoplay video sometimes you know uh so they they have this they add this new features for normies yeah you can like if you lose your private key we can recover what do you mean you can recover it what you mean what what what

01:08:24 how how you going to recover it okay [gasps] then uh they have this uh your private key never leaves secure M and chip which was which has never been hacked. So they said it from the beginning that you cannot get in like we cannot get the key no one can get the key. Then they said technically speaking it's always been possible to ex extract the key.

01:08:43 Technically speaking you have always trusted ledger not to deploy such firmware. Okay. Then now uh also they again we just discussed that you should not reveal that you're a crypto guy too much. They launched a a a ledger that is like a a thing you hang around your neck like a you say necklace you know so you can walk around with your ledger necklace it's a it's your it's your hardware wallet when I saw that this was years ago already maybe two years ago I was like why why you do it why why brilliant dumb idea was it

01:09:22 to create a hardware wallet that you put literally around your neck And it says, okay, it would make sense if they somehow hid that is a hardware wallet. Maybe it looks like a normal necklace, but no, it says Ledger V in numer. It says I'm a crypto guy. I have the the the necklace. Like what? Next, they have this subscription, Ledger Recover, for optimal convenience.

01:09:55 Their subscription service encrypts, fragments, and secures your secret. I'm like, man, what do you mean? What do you h how how do you even know my key? You know, I'm like, h how how how you have the service? So, they try to like make the subscriptions. They make they make this, you know, recover this, recover that, recover, recover me, recover your your your seed.

01:10:16 So, they don't understand their client. their client are crypto guys who don't want to do any of this. They want to be responsible for their keys and they want to know that you don't touch it. No one touches it. I mean that's how crypto guys operate. If you want this you know convenience recovery you can use uh you know Binance or something you can use something else.

01:10:39 So [snorts] we will be implementing this restriction in effect. What is this? Um, in early 2026, Ledger pushed an update that blocks non-standard derivation path on Bitcoin app as signed update. You couldn't refuse changed what your own keys were allowed to do. That's the trust model working exactly as designed. Yeah. So, they also can so basically they said that you trust us not to give you bad update and then they pushed an update which basically restricts you what to what you can do.

01:11:05 Okay. Uh for example, you can you cannot do non-standard derivation path which is quite a nice feature normally in wallets where you can create a non-standard derivation path and hide a bunch of addresses there. The worst thing Ledger leaked in July 2020 customers got leaked. You see here even the perfect device gets you drained. So on December 23, Ledger's own social library connected ship the wallet d [laughter] one poisoned update hit sushi swap balancer zapper others at the same time around 600k was was gone.

01:11:37 [snorts] This the way the way in wasn't the chip. It was a former employees npm account whose publishing rights were never turned. Oh my god. Two factor was on API key walked right around it. [laughter] Your keys stayed on device the whole time. You got drained anyway because Ledger software told your screen to sign a transaction that wasn't what you thought it was.

01:12:01 Oh my god. [snorts] So yeah, Ledger I mean unfortunately unfortunately it's not okay. Like this this kind of stuff it's uh it's not okay. How can you protect yourself if you use like a safe multisig or other multisig smart contracts on Salana or on ETH? Like this for you is not really a problem because then your money is not in ledger. it is in a smart contract that ledger is just one of the signers signing and there you know it's it's like an extra layer of protection but yeah in general it's it's no good yo yo listen

01:12:37 [laughter] no comment man no comments someone did a donation with some uh I'm not you know you know the rules guys we don't say random stuff here [gasps] uh this is not ad space but uh uh yeah thanks for donation I >> [laughter] >> I'll buy nice coffee with it. I'll buy nice nowadays maybe it's like three coffee I can buy with it. Fantastic. Fantastic.

01:13:03 Fantastic. Fantastic. 200 moving average is sitting right below 63k. We will reject and go way lower. Um I mean possible possible but let's see 200 moving average is now is 63k like we're above it. I don't know which asset you speak about but the moving 200 simple moving average we're above it now we're above it now could we reject potentially but rewatch from the beginning we discussed that Bitcoin can still go to 50 and it's okay it's okay go to 40 also [sighs] congrats on the first donation thank you very much thank

01:13:39 you [laughter] fantastic [snorts] guys for ads on this channel 11 what What I'm going to do with it? What I'm going to do with it? You know, for ads, if you want to shield something on this channel, map €11. [laughter] What is this? What [gasps] is this? Guys, thank you very much. Great stuff, great discussions, great everything. Big sh Oh, we have no time stamper today.

01:14:06 AI is going to time stamp. I'm going to send the transcript to Claude or someone and uh we're going to get time. But big shout out to all of you guys. Great uh great stuff. Great to have all of you here. Uh see you tomorrow. See you tomorrow if you haven't yet. Number one uh Bullmania weight list. Click the link below. New spots are going to be opening up later this week.

01:14:28 It's uh based on the weight list. So join. And number two, the crypto quiz. Very important. Use the link below for the crypto investor quiz so you understand your weaknesses. Your weaknesses as investor so you don't mess this next bull run up. Guys, thank you very much. Have a good day. Goodbye guys. Goodbye. Good dog. Goodbye.