Bitcoin and Markets are Dumping...Here's Why Transcript, AI Summary & Key Points

00:02 Welcome back to Cryptos are Us. I am George. We're all George. Welcome to another market open stream. Today, let's see how the market reacts after our big midterms where things flip very very very blue. So, let's talk about how markets are reacting and whether or not Bitcoin's rise yesterday was a breakout or or big trap. All right, let's do it. Let's do it, guys.

00:43 Welcome, welcome, welcome. We are starting out today right under $80,000. In fact, we're still about like $900 higher than yesterday at the start of the market. Obviously, we went higher. Uh we went all the way to about $81,000 and then kind of stood around 80s for a while. So, we're slightly below that. Most of the alts are still holding gains from yesterday.

01:13 However, I did notice yesterday all the tech sector, almost all of it, some stood out, but most of the tech sector were selling off like crazy, especially ones that were related to data center and AI. And I may have an explanation for that. But right now, right off the bat on my watch list here, I could see how like AMD is down 8% already. Micron is down 5%.

01:42 And and uh tech is selling off like crazy right now. Sandis is down 8%. Dell is down 6%. So there is definitely something going on here. SpaceX is down 4%. I mean, there's definitely something going on here for AI and tech. And is that going to affect Bitcoin? [snorts] Well, let's see. Right now, the US market is opening up very red for NASDAQ minus 300 and Dow is up.

02:18 So, not everything is red, but why why is that? Well, let's take a look. after after yesterday or the day before, right? Yesterday was the first day we had a monster rally. Uh everything turned blue in Congress, right? Both the House and Senate are now Democratc controlled. So why was there a monster rally to begin with yesterday? That's what people want to know.

02:48 A lot of people thought that it was going to be a big dumpage, but instead we had a big rally. I don't know. I think people are still speculating, but the biggest thing is Trump making peace with the Democrats or trying to and accepting the results, not challenging it, not saying that it's rigged, not saying that the votes didn't count, you know, all the things that he have said before.

03:16 So, I guess the acceptance of it and and just I don't know for something new and the fact that Trump said he's going to work with the Democrats. It's not like he can't he's going to say I can't work with them. I mean, he has to for the next two years and he has to be very careful because [laughter] a lot of things that went through uh prior because he controlled the Senate now he doesn't have that privilege anymore.

03:43 So, I don't know. That was I guess that's the as good as explanation as any in terms of why we had a big rally yesterday. But what are the Democrats really looking for? Well, according to this article, they're uh they're looking for a few things. All right. Like like healthc care affordability, uh taxes. Okay. lower taxes, more student loan stuff like forgiveness, housing, affordability, retirement.

04:24 Okay, including social security, and of course it says uh oh no, I was going to say credit cards, cryptocurrency. That's one of them. mostly due to Trump and his family ties. So, and there's been some moves about that. And inflation, of course. These are all big things. Okay. Big big things that people do care about. And I'm surprised war wasn't listed in here.

04:55 I think that was the number one thing. JD Vance actually posted this big tweet about why he thought that the Republicans lost. And the number one thing he said was due to the war, right? War and ties to to Israel. Because people still don't understand why we're in it, why it's been prolonged for so long, why we are helping Israel so much. And everyone understands the war is what's really causing inflation.

05:26 gas prices to be high at pumps, diesels skyrocketing, uh and of course the trick trickle down effect to everything else that is affected by oil supply chain, shipping, manufacturing, you name it, right? So, [snorts] even JD Vance came out with it. Some people are saying he's trying to distance himself a little bit away from from Trump, but uh he forgets that, you know, he's vice president and uh there's still two more years of this.

05:58 Almost seems like he conceded in a way. [laughter] Um but anyways, a lot of stuff that is going to be looked at for sure. And another thing that's looked at is well by other countries is how much power does Trump have now, right? I would say Trump has done pretty well in terms of um keeping China and keeping China in check and I would say Russia to some extent, right?

06:32 You need a strong leader for that. You can't have a weak leader when negotiating with these two powerhouses. But now that they see that Trump has lost Congress, I don't know. Are [snorts] they going to put increased pressure on things that we don't want to address right now? For example, does China want to take the opportunity to go take over Taiwan?

06:58 Seeing how much war is going on right now and and the the acquisitions that the US have been making, they might be thinking, why not? this would be a good time. There's no way that the US is gonna protect Taiwan right now when they're in a war with Iran already. Who knows? Who knows? So, this is going to be very important going forward. Um, I don't I don't know what's going to happen.

07:25 It's all speculation. So, we will we will see. I guess we will see. But this is going to be important going forward. I guess Putin has his hands full with uh Ukraine right now still. So, he's not going to be doing anything drastic. But China could, but China is suffering economically right now, too. Way worse than the US. So, I I'm not so sure they will.

07:49 But this talk about take over Taiwan has been talked about for decades, but it's been coming up a lot more now. I don't know if I don't actually know why, but it is coming up more. Maybe due to the reasons I've said because they're seeing what the US is doing. We just like took over Venezuela. We took over Greenland. I don't know where else we took over uh maybe Cuba soon.

08:11 You know, maybe these are things they're looking at. Anyways, outside of this all the political stuff or geopolitical stuff, I should say, political and geopolitical. Uh, as for inflation, you know, it's still skyrocketing everywhere. Everywhere, including England that had to hike their interest rate, uh, says inflation near 5%. We're, you know, nearing 4%, other countries, their their inflation rate is going up.

08:49 Now, some of it you could blame the Iran war or wars in general, right? um that is definitely causing a big effect on inflation and rising prices right now, but a lot of it you can't dismiss, including just overspending, over printing. Those are things that have been happening forever and they slowly contribute to the growing prices of goods and services and inflation and you know, people just kind of ignore that, right?

09:23 So, it's a combination. And right now, we know bond yields are skyhigh because no one wants to hold fiat because of all the irresponsible spending and borrowing. And you know, those are things that'll never go away. That's why we need better we need better assets. We need things that can't be inflated or be overprinted or minted uh infinitely. You need something that has scarcity like Bitcoin.

09:54 But anyways, yeah, it's kind of a mess. It's kind of a mess everywhere. Kind of a mess everywhere. Asia sold off like crazy, especially the big AI tech semiconductor data center related companies, right? And right off the bat, we're seeing that right now. Why is that? Why is that? Well, it does seem like does seem like the majority of Democrats right now do not like the fact that companies like OpenAI Anthropic and Grock and others, right, are trying to build out these massive data centers.

10:39 For some reason, they don't like that. They don't think communities like it. They're trying to put a halt to it, right? So, OpenAI is pledging that they're going to change. They're uh they're going to pay for everything. They're going to pay for data center buildout. They're going to pay for infrastructure for power grids to be upgraded, halt NDAs, right?

11:02 They're doing what they can, but I think this is the big reason why tech has been selling off because there a lot of fear that this may be stopped by the Democrats, right? Here's the thing. I don't think it's a blue or red thing. I think it's just a common sense thing. One of the bigger pictures I know smaller scale, most people want to help things that, you know, affect uh people on a day-to-day basis like prices of gas or food and services.

11:31 Yes, I get that. But long term, these Congress people need to understand that AI is not just a US thing. It's a global thing. And it's very dangerous to curb innovation and progress here when other countries are not. And you don't want someone like China to to be leading in AI space, right? Because the one that truly creates AGI is the one that wins.

12:02 So you need data centers, you need power, you need new power plants, you need all these things. So hopefully they understand that, right? Short term, there are a lot of problems to solve. Longer, bigger picture things, we need our data centers, we need more power, we need more compute, and we need better models. And we need to win that war. Okay, the AI war.

12:27 You don't want to lose that AI war. If you lose the AI war, you lose all wars in the future basically. So hopefully they understand that. But I think this is the reason why tech is selling off because there are a lot of people that think that Congress is going to put a stop to all this. Hopefully they do not. Um it's just speculation. A lot of people, a lot of Democrats, I'm sure, understand this concept.

12:57 They understand you can't lose the AI race. That's the one thing that that Trump is doing very well in is understanding that we can't lose that AI race. It's very very important. Very very important. I mean just look at all the hacks that's been happening, right? They're done by countries with inferior AI models. Now imagine if they had superior frontier AI models that they're using and they're using it for nefior nefarious ways, right?

13:26 And we didn't have a way to counter that. All the hacks that we're seeing would be a thousand times worse. That's a good that's a good example actually. Um all right, moving back. So how does all this relate, right? All these changes and everything. How is it going to relate to uh Bitcoin and crypto? Well, yesterday we had a good session, but still a lot less than what you would think, right?

13:53 Yesterday we had a pretty good rally. We're losing some of the gains right now, but overall we only had a plus 75 million yesterday. You would figure we would have like a plus 500 million yesterday, a plus a billion yesterday, right? All enthusiasm, but not really. And ETH did finally have a reversal. I mean, look at how much red there has been over the last few weeks.

14:17 Did have a good reversal. Soul didn't have anything. XRP didn't have anything. I don't know. It just balanced out or no numbers, but yeah, yesterday should have been a better day. Should have been a better day. Um, one thing that I did predict before and now it's coming true is a lot of the miners that left Rayi because it looked greener at the time.

14:40 kind of looked like a smarter idea. Now they're all coming back [laughter] because now that AI is a little bit weaker, okay, and all this anti-data center stuff, they're they're probably not as profitable as they once were. And now Bitcoin mining has become more profitable. So a lot of them are probably come back. And I've said that, too. And Bitcoin, you know, the whole thing about the difficulty, it adjusts every two weeks.

15:10 of a whole bunch of miners leave, then the difficulty drops tremendously and the profitability goes up tremendously. So, those that actually stood in just like long-term holders are the ones that benefited the most, not the ones that try to flip-flop. And you're going to see a lot of them are going to announce that they're coming back to Bitcoin or fully into Bitcoin because now it's not that profitable for them anymore to be an AI.

15:37 You're going to see a lot of that. But this says, yeah, in October, you know, there there were just too many miners selling out and converting. They're go they're going to come back. They're going to come back. Now, uh yesterday, it was also reported that Trump media moved 342 million in Bitcoin to Crypto.com. I can't really think of a good reason why they would do that other than to sell it right now.

16:10 Why would they be doing that? Why would they be selling now? I don't know. Maybe Trump and family are afraid that they're gonna get attacked over this because Trump and family have made like a billion dollars in the last year uh in terms of crypto gains and crypto profit, right? All the way down the whole family chain like from Melania to Don Jr. to Eric to Baron like every single family member above like 13 years old.

16:50 Um I don't know if there's any I don't know if Trump has any younger kids. I think Baron is his youngest kid. No, I I think he has a younger kid. Um but anyways, this may be related to that, right? like maybe they're trying to get rid of and not only that, you know, you you got still everything that that was made from Trumpcoin, Melaniacoin, and then, you know, don't forget they also have American Bitcoin, which is a mining company, and they also have World Financial, which is in a nasty lawsuit with Justin Sun right

17:25 now of Tron, and he's making it very public, right? So all these entities that's related to Trump and family are going to be heavily looked at and scrutinized going forward. I know that. So I don't know if this is the first move and it's not a good one because selling 342 million Bitcoin right now it's going to affect obviously our recovery. But um maybe maybe all tied together because they're they know that they're going to get looked at, right?

17:59 It was just like it was too prevalent. I mean I said I made this point yesterday. All of us in crypto we we appreciate and understand all the great things that are happening and all the new framework and how the CFTC and SEC operates, right? Allowing innovation and allowing companies, American companies to prosper with Bitcoin and crypto. And it's still moving forward.

18:21 None of that has changed. But it was pretty obvious what was going on. and all the corruption, all the things that were let go, things that most people just turned a blind eye to and said, "Okay, whatever. They can get away with it. They're the Trump family. No one's going to go after them." That's kind of changed if you think about it now. Um, so yeah, the whole family's they gota they got to watch out.

18:47 They got to watch out what they're doing. But, you know, the good thing is they could always get pardoned. Every single one could get pardoned. So, I guess they don't really have to worry, but they're all going to get pardoned for sure. Um, unless it's a state thing. That's the thing. You can't pardon state crimes. You can only pardon federal crimes.

19:11 Something interesting to think about. Uh, outside of that, we had oh, close to another billion liquidation from both sides, shorts and long side. Um, you know, obviously we had a big rally. I saw a tweet yesterday, someone that said over the last three years or two years, uh, he made, what is it, $380,000 with leverage, like he basically shorted a market and, you know, he made a whole bunch of money just holding it.

19:42 And he said that he, you know, he thought that he was going to, uh, make more after elections. He thought things were going to go down and then we had a sudden $5,000 gain on Bitcoin and he got liquidated all overnight. He didn't have a set stop gap, nothing like that. He just lost it all. He said he was looking at getting a new Porsche and that's not a case anymore.

20:09 So within one night, he lost what he made in like a few it was a few months or a few years or something like that. I I don't know what it is, but it just goes to show you that that's that's how dangerous leverage is, right? When things are going good, everyone feels like they're a genius, right? With leverage, because you're multiplying your gains by 3x, 5x, 10x, 20x, 100x, right?

20:37 I [clears throat] just saw something that James Win just posted. He's like, "It's starting to finally hit me that I lost $100 million due to leverage. The guy somehow I still don't believe it. I I feel like he's a plant for Hyperlid. Uh the guy put on some crazy longs back in the day and supposedly he turned, you know, whatever amount into hundred million dollars, nine figures.

21:13 and he got liquidated during the last few months. He never cashed out, never let it go. Again, I I feel like it's I feel it's fake. I I don't believe anyone that made a hundred million, didn't pull some of it out or didn't set a stop-loss or didn't do anything, just wrote it all the way down to zero. I have a hard time believing that. That's just I I just don't believe it.

21:36 I feel like that's all fake or given money or account that Hyperliquid gave it to him and and he was the biggest spokesperson and you know that's how Hyperlid got big is everyone start going on and following his trades and stuff. I don't know. I just I have a hard time believing. But you know, my point is liquidations uh they wreck people. They wreck the whole space.

22:03 So just be careful. It's a drug. Once you get started, you really don't ever leave. You just kind of want to always do it because you want to recover what you have lost, but then it just pulls you in. It's like a casino. It's like going to a casino. All those degenerate gamblers that are always in there every day. They cash out their pension. They cash out their social security weekly.

22:28 And all they do is spend time at casino. That's what it's like when you play with leverage. So be careful. Be careful. Not only are wrecking yourself, but everyone else in the industry is it cascades and builds up and it causes long squeezes or short squeezes. I don't mind short squeezes. Obviously, but long squeezes, no good. No good. Look at this.

22:54 This is out of nowhere. I never even seen SanDisk on here, but there's a tokenized SanDisk stock. It's a third largest for liquidations, right? So, there are definitely a lot of people that are playing with leverage. Now that you have leverage tokenized stocks, people are playing that and you could get wiped out from that, too. I've never seen Santis on here and it's the third largest right behind ETH.

23:20 That's kind of wild. Not in a good way, but it's kind of wild because Sandis right now is selling off like crazy. A lot of these tech companies are acting like meme coins right now. Uh here's the thing though. Let me refresh just to be just to be certain. Uh we're we're down a little bit to 787, but we are still in the green for November, believe it or not, because we were much lower, okay?

23:49 But we're giving a lot of that back right now. Um we just came out of a bad October, down 7%. Normally speaking, after midterms, okay, good things happen. And this tells you exactly what it is. Uh if you have in seven cases between a 100 years 1922 to 2022 in seven cases where it's led by a Republican president and house and senate are both dominated by Democrats in the following three months.

24:31 This is actually one of the best scenarios that can happen. Following three months, stocks are up about 11%. The biggest category, biggest gain of any scenario. And then plus six months, you're up about 17 and a half%. In 9 months, 20%. Those two plus six plus 9 are all the the greenest of any category. And then plus 12 months about 15.5. That's where it kind of trails a little bit, right?

25:02 And there are many charts that also show Bitcoin doing the same thing, bottoming out right around midterms. We kind of go flat for a little bit and then we go on a tremendous run. It could be all correlated because the money start flowing and liquidity starts flowing and people start buying up everything. But normally speaking after midterms stocks and crypto do very very well very well.

25:31 Today is not a reflection of that, but we have to see. History doesn't always repeat, but it tends to rhyme. And it's funny that in here it says four cases where the president, House, and Senate are all Republican le. That's the only category where all [laughter] all the time frames three months, six months, nine months, 12 months are red. That makes no sense.

26:00 You would figure Republicans w would be leading the way, but in the four cases where it was dominant control by Republicans actually were all red. That's just that's just wild. I I don't even know how that's possible. All right. Outside of that, shortterm, long-term, this is what it looks like. And it does correlate a lot with midterms and elections, but it also shows you when you break out of a certain certain, you know, area uh certain, I don't know, channel or a certain range, you do tend to, you know, retrace back

26:47 to a like a resistance point or a support point and then you go higher. That's what usually happens. So very similar cases. We have seen that in 2020 after the COVID crash after we had a pretty good re recovery. Then we had a dump and then boom, we headed higher back in 2023. Same thing when we found that bottom in 2022. We had a good recovery in 2023 and then we retraced back down a little bit and then we never looked back.

27:19 So are we going to see something like that again? I think so. I think so. Uh, outside of that, man, I've been talking for a long time today. Really long time. Longer than usual. Uh, Binance and Poly Market. They're looking at a hard fork to recover 7 million in crypto. That That is uh that is uh that is serious stuff. It's not a soft fork, a hard fork.

27:48 That means they're actually going to like stop the chain and create basically a new chain with new transactions, right? Just over 7 million. I mean, 7 million is like nothing compared to the 7 billion or 6.3 billion. So, I don't even know why Poly I don't even know why Polygon would even consider this. I don't even know why Poly Market would even seek this.

28:23 that that's a that's a very strong if this was to recover 600 million I would say so but like a hard fork is basically coming out with a new a new chain basically that that's uh pretty serious stuff anyways outside of that man we're we're having a huge tech selloff right now almost minus 800 for NASDAQ any gain that we had is completely wiped Now, Dow is down now 400 and Bitcoin is down to 78.

28:51 So, basically what we saw here yesterday, completely gone. Bart Simpson gone, but we're not down here. We are still higher. We're still in the green for November. But yeah, it's hard to overcome right now. I mean, just look at this. Mike Rod is down 11%. AMD is down 13%. Intel is down 8%. I mean, Sandis is down 13 14%. Which is why that tokenized stock is causing so much liquidations.

29:28 SpaceX is down 7%. Robin Hood is down 8%. Like all my options basically is near zero now. So like kiss all my options goodbye. This is just tremendous tremendous selloff. Again, I think it's just due to fears that the Democrats are going to try to shut down all these data centers and slow down growth and that's why they're all selling off. I mean, like HP is down 9%, TSM is down 7%.

29:57 Google Google is actually holding, but yesterday they were down huge. Yeah, no good. No good. Micro Strategy down 7%. Coinbase down nearly 7%. Well, let's see if Bitcoin could hold here. This is actually a resistance right here or support. I should say a light support, but we'll see if it could hold. And it's just a bad selloff day. All right, let's do some Q&A.

31:16 Yeah, man. The text all off. is so brutally hard. And I've said it makes no sense because they're all making money hand over fist. SK Highex, Micron, they have all their chips sold. Every single one that they could produce sold until 2028. Dell and HP record sales. AMD record sales. Nvidia record sales. And somehow Wall Street is just selling everything off because they're they're fearful about fearful about what's to come.

31:55 New I don't know new regulations, new whatever, new I don't know. I don't know. I see both sides. I can see why normal people, normal Americans, they're like, "Why do we want AI to advance, right? Like AI advancing is just go take our jobs. I don't care about that. I don't care about AI getting smarter and better. I don't care about the data centers around me.

32:27 I don't want them to have, you know, build data centers around me." >> [clears throat] >> Um, I could see why most people would think that, but you already let the gene out of it bag. We already have this. We know how to build AI models now, right? And not only that, the world knows how to. China knows how to. Even some Europeans know how to. They're not going to stop.

32:56 simply by halting progress here is not going to make other companies and other countries stop. You can't lose this war, right? You need to we have advantage. We're definitely ahead, but we need to maintain that lead. We can't fall behind. Uh there are other countries that are doing bad things already and they're using inferior models. Now imagine they're not and they're using frontier models.

33:26 Um that would be horrible. So hopefully these Congress people understand that and hopefully normal people will understand it because this is the bigger picture type thing that we all need to worry about. But short term I understand people are broke. People are worried about losing their job. People are worried about high prices. keeping food on a table.

33:53 I get it. Those are more urgent things that need to be solved first, but long-term can't lose this war. Big toe says, "Prices have not stopped rising in six years. Not sure what to do." Uh, you know why it hasn't stopped in six years? Because uh because after COVID our government and governments around the world, not just the US, decided that we needed to flood the market with money, right?

35:08 The overall money supply increased by over 30% within two years with all the the checks that were sent out, all the forgiveness programs, everything. Everything. That's why price went up. When the overall amount of money goes up by 30%. Just think about it. That means everything became at least 30% less valuable because now there's 30% more money. Money doesn't you can't just print 30% more money and not have effect.

35:49 This is what Pal was trying to say. He was trying to he was trying to do his best to blame it on supply chain issues, but it was really about overprinting. So that's why it's never going to go back down. because we have more than 30% of new money floating around. So, at a base level, something that was $1 should at least be 130. But obviously, a lot of things have gotten a lot more expensive than that due to other factors, okay?

36:23 Due to rates being higher now, due to inflation also higher, due to a lot of other stuff that's happened. But that's why it's never going to go back down you unless everyone starts burning their money. You know, we burn away 30% of the money that's been circulated, which is not going to happen. And we print more every single year. Whatever countries can't make up for by selling bonds, what do they do?

36:52 They raise taxes, but that doesn't cover it all. And they print money. So that's why inflation will never go away and it will always get worse. That's why we need assets. This is why you need strate strategic debt. Appreciate assets will pay for themselves. Yes. Yes. But I understand because I've been through it. When you're living paycheck to paycheck and you have no way of saving or investing, it's tough.

37:50 It's tough. A lot of people go through that. A lot of people are living paycheck to paycheck no matter how much they make. I've been through that many many many many many years and even to some extent now. Um my expenses are quite high. So I got to figure out how to cover that too. Uh so I understand if you don't have dry powder, you don't have dry powder.

38:17 I could say hold on DC all day long. If you don't have enough and you need to sell or you can't DCA, that's life, right? But long term, everyone should try to figure it out because it's only going to get worse. It's only going to get worse. Inflation will continue to rob people's buying power. Okay? Money will continue to get worse. Prices for assets like homes, houses, buildings, gold, Bitcoin, you name it, will continue to rise and become more and more unaffordable.

38:54 That will never stop. No matter how many stimulus checks they may be giving out in the future, hopefully none, uh assets will continue to rise in price. So people will get poorer and poorer just by living paycheck to paycheck forever. Um so and AI is not going to help. AI is going to remove a lot of jobs and make more people broke. So right now got to figure it out.

39:26 Got to maximize earnings as much as possible and utilize AI to create something or build something. That's really what it comes down to. Uh because in the next five to 10 years, a lot of jobs, a lot of jobs are going to be lost. Man, today is just such a brutal day. It's it's hard to watch this Bart Simpson. And it's just it's led. NASDAQ is down almost a thousand points today.

39:54 This was what people were expecting yesterday and then they got a big fake out. All the people that were shorts yesterday, they all got wiped out because we had a good long day and now people are long and getting wiped out due to the short due to the decline. See, this is this is why you don't want to try to outsmart the market. All these people liquidation is probably over a billion again.

40:21 Uh how do I I have the open? It's getting up there. 800 870 million. Flavio says, "Get roommates a Toyota Corolla. Leverage you to delay gratification. If you're drinking and partying and don't have a sizeable net worth, you're in the wrong place." I mean that. And just in general, too. I mean, those are good things, but in general, you get one less Starbucks coffee a day, one less takeout order a day, one less Door Dash order a day, one less whatever service that you may be ordering a day or week, stuff like that.

41:39 It adds up. Most people like to live comfortably even though they have no savings. They just they just say, "Well, that's just what I what I spend on, right? Getting a Starbucks or Dunkin' Donuts or whatever on the way to work, maybe on the way back on the weekend if you're bored. A lot of people just eat when they're bored. I I mean, I'm guilty of this, too, but just stopping in random places to eat snacks or something.

42:07 Uh it adds up to hundreds of thousands of dollars a month. Um, eating out especially, I think a lot of people utilize Door Dash and Uber Eats. A lot of people go to restaurants to eat. Uh, especially with prices like dishes at restaurants are stupidly expensive. Every dish at a restaurant is $18 to $25. Even even like even like the normal cheaper restaurants, you can't get out of there without spending at least $20 a person, right?

42:46 Um it's it's expensive. You know, these are things that you could cut back and and use towards investing investments, but most people, you know, most families are not going to do that. They don't they don't they don't think it adds up, but it does Could you make Clash World have the option to play browser based or download? I could, but I'm probably not going to.

43:38 I've spent so much time trying to make it look good and operate well on browser. There's always people that's going to complain. Uh just like with Frontline, and Clash World is even worse than Front Line. So Clash World will be a download only. Uh front line I'm gonna make it both. Right now it's a ready browser. I'm working on Unreal version where it's a download which will help actually performance and visual quality by a tremendous amount but Clash Roy.

44:07 No, I'm going to make it um download only. It's just too hard. You got all these people using old computers. No one really has an advanced state-of-the-art computer. Everyone's using a computer from 6 years ago, 10 years ago, 20 years ago, and it's just not going to work well. And then people are going to complain and get disinterested. So, it has to it has to work well from day one.

44:36 Josh, I'm so tired of winning. Josh, don't you turn bearish on me, too. I mean, it's hard. Like, I I don't even look at my brokerage account right now. I don't look at my wallet or brokerage account. Wallet is fine. I know what I have in there. But my brokerage account of all these options that are set to expire in December and uh and March, it's probably all near zero right now.

44:57 Like the the the tech selloff is so brutal that I can't imagine any of them having any any value right now. I just probably got to accept that I'm going to lose hundreds of thousands of dollars, which is not something that I could really ignore. It's just it's just bad. It's just bad. And it makes no sense. It I mean, it makes I can explain it, but it just it's not a good it's not a good rationale behind it.

45:32 Let's put it that way. I like Longhorn, but it's now 28, $35. Yeah, especially if you get steak. Forget about getting a steak at a restaurant, man. You get a ribeye, it's like $40 minimum, 45, right? Unless you're getting like a 4 ounce or something, then then maybe it's like $28. Uh you get any kind of steak, you're looking at 40, 50, 80, $100 steaks everywhere.

46:04 You get normal. I mean, I was just at Cheesecake Factory the other day, maybe two days ago. I like every single dish is $25. There's There is nothing. Even appetizers are $20. You can't get a cheap meal anymore. Um, you really can't unless you just do fast food. I mean, but even fast food is not cheap. [snorts] The only thing that I I do every day right now is keep myself occupied by building out stuff for the Clash ecosystem, right?

46:53 So, still building out Front Line, still building out Clash World, which helps Clashpad, which helps Clash. That's that's what I'm focused on, right? And what I'm spending all my time on learning how to use AI, learning how to use better and figuring out how to create things that people will use. That's really what it comes down to, right? I don't really spend a lot of time on anything else.

47:18 I don't waste a lot of time on X or watch a lot of Tik Toks anymore or watch TV. I hardly watch TV. I don't know of any new shows or anything anymore. Um, don't really watch movies. Only like when it's like family time at night. That's it. I'm keeping myself occupied like 16 hours a day. I just playing I just been playing front line. Almost forgot I had a portfolio.

47:58 That's probably the right right way to do it. Man, it's just it's just a brutal day. Drew. Drew. I appreciate that. I do appreciate it. Uh, what is the plan for your kid? Let them compete with AI robots. I mean, what what other plan is there? I'm trying to get them to utilize AI, but they're they still don't care about it. Most most people don't, but at least one of my kids is using it to try to build games with.

49:20 So there there's that. He has some experience in it. Um I don't I honestly don't know. I I've I've told my wife this and I've expressed this to other parents who have younger kids like our family friends. Um I don't and a lot of like a lot of these other parents that that are like at uh sports meets and stuff. I don't know what the kids are going to be doing.

49:51 I really don't. And it's a bleak way to think about it, but I actually have no idea what job they could be doing in 10 years that AI won't have replaced other than like being electrician or plumber. Like electricians will probably be in demand for a long time until optimist robots can take over. Same thing with plumbing. probably a long time, but I can't think of any other job that's a white collar job that won't be replaced by AI in 10 years.

50:32 And that's when they're in their prime, when they're out of college and in their early 20s looking to build a career. I don't know what jobs that they can actually have and and succeed with and build their careers with and make good money with in 10 years. I I can't I think their only hope is that I pass on all my money to them. That's it. I hate to say it.

51:06 I don't I don't know. I don't know what else. I I I don't I can't think of anything. There is no desk job that won't be replaced by AI. And it's sad to to to think about, but it's true. Robots will be building robots. You won't need humans to build robots. That's for sure. Military. Yeah, I guess. Yeah, there's they always need people, but military is going to be very different, too.

51:41 It's all going to be drones and everything will be driven by robots. You could fight wars with robots and drones. You don't really need people anymore. Not nearly as much. And everything's like, you know, missiles and nukes and stuff anyways. So, I I don't even know why you need that much military anyways. Drew Drew said, "I'm an electrician. 2026 was my most profitable year.

52:24 We can't buy enough workers." You know, congratulations for you and you should try it. You especially since you're electrician, you should start your own business if you haven't. you should become your own electrical business and hire a lot of people and and grow that as much as possible because I honestly think electricians will be like the richest people in like 10 years.

52:53 Um I everyone else I I don't know what everyone else is going to do honestly. All these people that are crunching numbers or you know doing taxes or doing project management work or doing design work or graphic work or architecture uh even law like there is no job that's safe none. All of it will be replaced. I can't think of anything you really. I think electrician is probably the best.

53:34 Starting a business is still number one, but starting a business of handling electricity. I guess that's probably the best. So basically as a human species we become useless. Yes. Yes. Because we inherently are lazy and we want things done for us. So, the movie, one of my favorite movies is uh is Wall-E. And I think a lot of people have watched that movie.

54:16 That's where we're heading to. Like, basically sitting in a pod, a floating pod, where our lives are dictated by the AI and we can press a button and food just appears and we eat it. That's basically how we're living now. That's what Door Dash and Uber Eats is. So that you don't even have to cook. You don't have to go do anything. Just order and it shows up at your door in 15, 20, 30 minutes, right?

54:43 That we're building robots. Why? So they could take out the garbage. They can clean the house. They can shovel the driveway, right? Everyone's will get one because everyone wants that and don't want to do it, right? So humans inherently are lazy and wants easy life, wants instant gratification. So we keep building things to make ourselves more lazy and more obsolete.

55:13 And AI will be the last thing we build that takes over all. We don't even have to think anymore as humans. We don't need to use our brains anymore. AI will think for us. And in some ways, it already does. We have a billion people that's using chat GBD every day because they don't need to think. They don't want to think and they're told what to do. So, we're already going down that route and it's not going to stop.

55:44 So in the future, there will be a very limited amount of people that are actually thinkers that actually will go against the grain and maybe question AI and say, "Well, maybe what AI is telling me isn't the best thing for me." But the future generation are all going to live on AI. Every single part of their lives is going to be utilizing AI for all decisions, every single thing.

56:11 It's not going to stop. We're probably the last generation, at least I think a lot of you guys are my age. We're probably the last generation of critical thinkers. The next generation, none of them will be critical thinkers. They'll all be doers. Doers of what AI tells them. That's pretty much it. They'll be led by AI. Electricians building data centers will eventually be put out of work, too.

56:58 Yeah. Because they'll be replaced by robots. But you have more time at least. Outside of that, you know, everyone else is going to get laid off in the meantime. Where's the bottom? I want to long. Well, if you're looking at shortterm, this is the bottom. This is where we fell to here and here the last week or so. So, and here. Yeah, I would say this is a pretty good bottom if you were obviously go lower, but today's sell-off is just so brutal.

57:32 Everything is being sold off and it's affecting Bitcoin, but I think we hold. I don't think we'll go lower. I think we could hold this level. There's no reason for us to go lower. We were already pretty depressed and we were holding at this level. So, I guess we'll see. But the stock selloff is so brutal right now. It's affecting everything there. There's nothing green.

58:01 There's nothing safe right now. AI bubble f finally bursting. I don't think it's AI bubble. I think it's everything's bursting. I hate to say it, everything's bursting. So unfortunately the gains that we got for this month is now wiped out. We were up 4% for this month and now we're down 5%. So I'm pretty sure the gains that we we achieved in November is now gone which is sad and it's due to this market selloff.

59:06 AI bubble can burst but AI will stay and continue to evolve. Yeah, that's that's for sure. There's two different things. There's the investment side which is stocks and crypto that's related. And then of course there's the technology itself which is which is what uh open AI and anthropic are. Um they're not going to stop and hopefully they don't because we don't want China to win.

59:28 We don't want China to win the AI war. That would be what way worse for us. Way worse for us. Um so hopefully the politicians know that. Hopefully, politicians try to fix near-term stuff, but keep the long-term stuff going because we can't lose that war. That will be the one war that ends all wars. Um, so you don't want to lose it. Uh, it'll be bad.

01:00:05 I hate to say it, but I I just coined something. I I do think that we are the last generation of critical thinkers, you know, throughout our lives, right? Like certain things have happened that have changed our lives forever, right? From a tech side, the last big one was probably the invention of smartphones. back in 2007 when iPhones came out, we still didn't have app store and stuff, but probably, you know, three years, four years afterwards, 2010, 2011, after a few versions of iPhone after Android came out, that's

01:00:45 when it changed our lives forever, for better, for worse, right? So, we've lived through that. So, our generation is the first generation to be mobile, right? And in some ways, it's good. Like we have infinite photos and videos of our kids which our parents never had. They had to do like regular photography and video cameras and stuff. So, but it's also bad because now we have been glued to where we're like Androids, right?

01:01:14 Like we're glued to our phones and our kids have a worse. We have given our kids iPads and phones at a much younger age than when we started because we were already in our 20s. They started when they were four years old, five years old. So they can't live without a phone, right? So, but we're now also going through this AI thing where we're the first generation to actually use AI in a productive way and our kids will obviously live with that and their kids will be even more raised by it.

01:01:54 So we're going through a lot of these and even before that was a big thing that we all adapted to which is googling right when Google came out it changed the thing it changed the it changed everything people no longer went to libraries people no longer had to do any research just they Google it so that was a big thing too right and then you have Google maps once Google maps came out everyone stopped using maps You tell me how to find my way out of a forest using a map and a compass, forget about it.

01:02:33 I will die in that forest. Um, you know, so it's like we have these things that have changed everyone's lives and AI is going to be like the final one because after you perfect AI, you don't need anything else. You don't need to think anymore. And I'm not saying that's a good thing, but we will probably be the last generation of thinkers. Our kids and their kids will no longer need to think.

01:03:00 They will just rely on AI for everything. AI and mobile. And then eventually mobile gets upgraded to Neurolink where you just have it in your head. So then you have AI and the internet access in your head and uh and it's going to be weird. people are gonna just sit there and stand there like they're a zombie, but they're really just interacting with things in their head.

01:03:27 That's even stranger to think about, but that that's going to happen. I mean, Elon's already pushing Neurolink forward. Um, another 10, 20 years, I could see how he comes out with a chip that you could just put in your head and uh, you get internet access to your head without even looking down on your phone. Now, that's an interesting thing. Would you guys get that?

01:03:56 Would you guys get an implant in your head so that you get internet access directly into your brain without looking without needing to look down on your phone or computer? I don't know. Like that would pretty that would give you a heads up on a lot of things. I don't know how much so and it could definitely ruin your life because you're just like searching in your head all the time.

01:04:30 You guys say no, but just wait until everyone else is and then they're so much far f far f far f far f far f far f far f far f far f far f far further ahead than you. Think about it. If you're in a meeting and a boss is asking for ideas, everyone's trying to think, everyone's trying to look on their phone and one guy just gets it instantly all the time because he has a direct link to the internet and AI directly in his head and that AI gets smarter.

01:05:05 He would have such an advantage over everyone else. I think I I feel like everyone else would just do it just so they could compete. >> [laughter] >> Oh man. Literally the mark of the beast. I guess it's going to happen within the next 10 to 20 years. There will be chip implants. I don't even think it has to go in your head. It's probably something that like a little thing that you just like tap on your your head.

01:05:48 Like they don't even have to do a surgery. You just like stick it on your head or the back of your neck or something like that. And uh I bet a lot of people get it. I bet a lot of people get it. It's It's kind of the same thing. Like everyone here is saying no, right? It's just like the old people that will say I I I won't ever let a car drive for me, right?

01:06:18 They won't they won't trust a car to drive like a FS like FSD right now. I've driven it on FSD million times. It's fine. Like I've shown my mom that is, you know, I'm like she's older now, not the best driver. I'm like, you should just get a Tesla. Let her drive around for you. refuses, right? But it's just kind of like that. If you grow up with something and you're used to it, you think it's safe, the prior generations won't think it's safe and you're always will have that.

01:06:49 So, right now, everyone's like, "No, it's chips in my head." Future generations will say, "Well, that's pretty normal. You know, everyone has it. Why wouldn't I get it?" And future parents will be asked by the doctors, hey, do you want to implant them with this? And most parents will probably say yes. Like our kids' kids is like when our kids grow up to be adults, they'll probably say yes to their kids being implanted.

01:07:19 Um, we'll see. We'll see. All right, guys. That's enough chitchat about the future. Uh, yeah, it is dumping right now. It's not looking good. It's not anything inherently wrong with Bitcoin or crypto or any big bad news today. It's just a bad sell-off day. A day after yesterday, two days after election, now people are afraid of tech and AI and and everything else related going belly up and uh and selling off.

01:07:55 That's really it. And I think a lot of people are just panic selling at this point. We will recover, but this just sets us back, which unfortunately sucks. All right, guys. Have a good one. Hang in there. Don't think too much about chips in your head yet. We're not there yet. But AI is definitely something not to ignore. All right, have a good one. Take care.