Bitcoin Faces Nvidia Shock Transcript, AI Summary & Key Points

00:02 Welcome back to Cryptos Are Us. I'm George. We're all George. Welcome to another market open stream. We got some bad shocking news over the weekend. So, we got to talk about it this week. I don't know. I don't know. Seeing how bad last week was, are we going to get a bounce? or we go get a recovery. Let's talk about what happened and what happened over this weekend.

00:33 We had a big interview with Trump and then we had this Nvidia shock. So, let's see how things go. All right, let's do it, guys. Welcome, welcome, welcome. We are starting out the day with Bitcoin at 745. Now, last night or I don't know, I think it was night or afternoon. I think it was night time, we had this dramatic drop that liquidated like a billion dollars or something like that.

01:10 It was crazy. All of a sudden, Bitcoin holding, you know, been holding at 75,000 for a while, seems steady, and then boom, you had someone, okay, probably in Asia just decide to dump it all and we had a billion liquidation. We almost fully recovered. Now, we're kind of hovering right in the middle there. Okay. But someone or a group in Asia just decided they didn't like what they saw and decided to dump it all.

01:42 So we could take a look at that. Uh a lot of the alts are much weaker today. ETH is now back to 2100 when it was hovering above over here just nice nicely. Uh same thing with soul. Everything basically sold off. XRP almost down 6% right. But today we are opening with NASDAQ and Dow in the green. So we'll see what happens today. Today and rest of this week could be good.

02:14 Last week and the week before that just non-stop tech selloff. I think on Friday we got a good a a small little rally. Let's see if this week continues. Uh but the big headline is this. So, we know a lot of rich people, billionaires, you know, centmillion millionaires, a lot of celebrities. They're not very faithful. But this this is worse because Jensen Huang, uh, it turned out that he had relationships with the CEO of this other company.

02:54 And that company, I don't know if it's the whole company, but at least the CEO, the the the the woman involved, uh, has been sending secrets to to China. So, she's, uh, she's like a Chinese spy. So, that's where it amplifies this. So, obviously, it's no good that he was caught having an affair, but having an affair with a Chinese spy is way worse. So, a lot of people are questioning whether or not this is going to affect Nvidia, whether he's going to stay on as CEO.

03:32 So, right now, they're down 6% because of this. He sent out a email to all of his employees said that, yeah, obviously he did wrong to his wife and kids who both work at the company. Um, but he's going to continue to work hard and push forward. And most leaders on X, I saw Elon chimed in and said, "Yeah, I mean, obviously it's a mistake, but they he still believes in him."

03:58 Even Trump was asked about this. Trump said he's go look into it, but he thinks Jensen is a honorable guy. So, he has a lot of support. Uh, but this is like one of the major things that I guess we'll have to see what happens to Nvidia. Obviously, they're leader in AI, one of the leaders and the leader for AI chip producing GPUs, which has gone up astronomically.

04:29 Um, so we'll see if this uh this affects the market overall. Right now, it doesn't seem like it because the the US market is green, as is very green, but we'll see. We will see. So that broke out this weekend. Uh I saw this too that's related. Speaking of China, their inflation is just skyrocketing along with everyone else's. Right. So that's the thing.

04:57 I've been talking about inflation in the US, but inflation in China, inflation in Japan, in Europe, everywhere is skyhigh. So obviously with inflation higher, all these central banks are looking to raise rates. None of it is good. This is the biggest reason why we want that Iran war to be over. So oil could come down and help with this situation, but it seems like we're nowhere close to that.

05:28 Rubio actually just came out and said there's little hope of diplomatic breakthrough uh as their Iran are outrageous. Actually over the weekend, a lot of talk about Marco uh resigning after the big midterm loss. Uh Trump says he doesn't think he's going to resign. Rubio said he's not going to resign, but that may change. The whole regime may change, but we'll see.

05:56 There a lot of talks about Hegs Sith uh being fired and that hasn't happened yet. So yeah, unfortunately it seems like the war is going to continue on and oil is going to stay elevated and inflation is going to keep on rising and none of these things are really good moving forward. But things could change. Who knows? Who knows? Uh, and then, uh, I didn't know this, but we're coming up to our debt ceiling of 41 trillion.

06:38 We're at $40 trillion. So, you figure we don't have to worry about that. But we rack up trillions like it's nothing these days. So now Congress has to vote upon whether to go raise the debt ceiling and what they're going to do about everything else. The Democrats obviously control both sides of Congress now, so they could pretty much approve whatever they want.

07:06 Uh but you know, Trump could still veto it. But still, they're go they're going to make things much more difficult going forward. And that may be the reason why the other big thing that happened this weekend uh was this uh 60-minute interview with uh Donald Trump. Now Trump, if you ever heard him talk with these interviewers, right? Uh he has little patience.

07:34 He loses his cool and then, you know, just just like leaves interview or or tells him how stupid they are or how they're fake media or how uh you know how they're asking the difficult questions or the wrong questions or whatever, right? Like in the past interviews, there been a lot of those. This one, I didn't watch the whole thing, but I watched many, many clips of it.

08:02 Trump was very different in this interview. Very different. He tried to be as open as possible. Even though I got to admit that this interviewer kind of sucked. Interrupted him like a million times. Okay. And I thought Trump would lose his cool. I I mean I to be honest I would have lost my cool. Like he didn't let him think or talk or do anything. I think that was part of the plan to kind of trick Trump while he was like thinking and answering.

08:28 But so an interviewer wasn't good. Anyone that watched it, I think would know that. Um but Trump's tone in this was definitely different. Um more reflective, not trying to point fingers, not trying to um throw anyone under the bus. He admitted a lot of things that I think a lot of us already knew. And uh I got to say it's refreshing. If he was more like this, I think a lot less people would would uh distrust him.

09:02 Um but as it relates to crypto, he was asked about whether or not he knew World Liberty Financial, which he is a name partner, does have UAE linked investments. And he was asked point blank, you know, had a shoe been on the other side like if Biden had business relationships and EAU was invested, you would be shouting fraud. So what do you say to this?

09:35 And Trump basically responded that he he doesn't know anything about it. This is what I've been thinking. like everything that's involved with crypto, Trumpcoin, World Liberty Financial, I don't know, American Bitcoin, all these companies, all these things, Melaniacoin, none of it is him. He tried, he basically admitted that like he has people and his son managing his investments.

10:01 He has no clue about any of them. None whatsoever. Okay. um which doesn't which doesn't make up for it, but it's pretty obvious that his his sons are running everything in crypto at least and that's how they're making their money. So he he kind of attributed like he tried to deflect in saying all presidents anyone associated with them always have scrutiny in terms of what they invest in and stuff like that whether it's crypto or oil or whatever which is true but in this case it's pretty clear all the corruption is

10:40 basically from his sons and he unfortunately allows it to happen. Uh, and all that is probably going to be heavily heavily heavily heavily scrutinized and looked over now by Congress. They're both uh now there's nothing to block them from doing so. So, yeah, that was one of the things. Also, he was asked like, "How come your net worth went up by $3 billion last year?"

11:07 And Trump responded, "Well, you didn't buy any stock." I don't know why he always says stock in singular form, not stocks. Um, and then the interviewer is like, "Yeah, I guess you're right." But again, Trump is like, "I have people that's investing. You know, I saw reports that I've made 40,000 trades. You know, that's not me. That's my, you know, that's my guys."

11:26 He was asked why he didn't just sell at all. Like, president shouldn't be able to take advantage of this. And I don't I didn't hear his answer to that. uh other things he was asked about like UFOs and whole bunch of other stuff but the main point is his tone was very different very very different oh he was asked about im immigration too and he kind of backed down and said that he made a mistake that immigration policy is too too tough right one of the things people didn't like was how ICE was picking up working people

12:04 taxp paying people that may be in the country legally and just deporting them, right? He thought that was a mistake. You know, people that are in lawn care or restaurant business or wherever been hardworking, paying taxes, contributing society, and they get picked up and they get deported. He thought that was a mistake, although closing the border was not.

12:29 So, a lot of stuff, but my main takeaway is yeah, it was a different interview because it it was good to see him in a you know, a realistic like he dropped his guard. He's not putting on like a show, right? Like he's actually talking from the heart. But again, that doesn't make up for a lot of the corruption stuff that we already know in crypto that has been ongoing for a long time.

13:05 We've just kind of been overlooking it. Um, so yeah, those are two things that happened. I do want to watch the full interview. I do think it's good. I just haven't had time to sit down and watch the whole thing. Um, anyways, so outside these two things, we had, let's go back to crypto. We had a pretty bad outflow week last week. Like I said, it was a really bad last week, okay?

13:31 A really major major sell-off week. So hopefully Nvidia, what's going on with them, uh, is not going to disrupt a good week of recovery. We should, if anything, we should get a relief bounce because things were so oversold the last few weeks. Actually, it's probably the whole month. Uh, so we'll see what happens this week. Um, you know, we sheded 1.3 billion in the biggest outflow since late June, unfortunately.

14:03 Unfortunately, but again, with ETFs, things couldn't come back really fast. Just depends on market sentiment. People FOMO these funds FOMO in all the time. They're they just they react like retail investors sometimes, okay? When they get fearful, they panic dump. when they fear when they FOMO, they panic buy. So that's why you see the flip-flop all the time.

14:28 But there are still great things happening. Obviously, despite all the stuff that's going on, okay, despite everything that's going on, we have a lot of great things being done and pushing forward. Here's example. Coinbase gets a US charter. Okay. So now they could operate basically like a bank. So this is this is going to allow Coinbase to continue to push forward with a lot of stuff.

15:03 I mean they've been basically moving all directions. they offer leverage now and I think they're going to expand upon that offering tokenized stocks um and even derivatives of that and then you know they're obviously involved with Circle with USDC and pretty soon they can offer you know new securities or launch tokens without scrutiny. I don't know what else their plan are probably a lot of tokenized stock because that's the direction and they offer stock trading now too.

15:36 Um, so they're competing head-on with Robin Hood and obviously with the traditional exchanges. Um, so this is good. I'm pretty sure all the other exchanges in the US are pushing the same thing, same direction. Uh, outside of this, uh, you still have the Bitcoin and Treasury companies. Strategy finally decided to buy a decent amount of Bitcoin 1,036 which is a lot and then 188 millions of Stretch and last week Stretch actually came back to parody to $100 and Sailor was you know celebrating that a lot of people are he's

16:18 been trying very hard to get Stretch to get back to the parody. There's really no reason for it other than just to show strength. It was created to be at 100. So if it went below, he would raise the interest rate uh or dividend rate, I should say. And if it went above, he would decrease it. But he's been raising and raising and raising it. And uh and that wasn't working.

16:43 So he decided to start repurchasing. And that has been working. But unfortunately all the money generated to do this is from selling uh strategy stock. So strategy is being sold off to buy stretch and bitcoin at this point. Um yeah. So if you're a strategy holder, I'm not so sure you're very happy about this, but we'll see. We'll see. At least 1,036 more Bitcoin was bought from circulation and they hold 850,000 Bitcoin.

17:23 And others like Strive continues to buy. They bought 15,000 Bitcoin in October alone and they hold what? 43,124. So these Bitcoin treasury companies obviously are still buying and Bitcoin mining has been going up again, right? All the miners that left for AI, a lot of them are coming back. It's a lot more profitable. So the network is getting stronger again.

17:54 And I I saw this article and this is uh this is something I could relate to because I went through this back in 2013 2014 seemed like a lifetime ago. I swear I had a lot of pictures but I can't find them. But uh in Finland a lot of people are mining Bitcoin, right? And they're getting heat from the miners to power their homes. um not power but to heat their homes and why not why not.

18:31 So when I was mining Litecoin back in the day using I had at one point like 120 or 130 GPUs on these racks they were going 247 at 100% usage. It's it was crazy. My basement was 110 degrees and I was pumping in negative 20 degree air from the outside from the winter into my basement and it was still 110 degrees. That was in the basement and obviously heat rises.

19:02 So the rest of the home was like smoking like 80 something degrees and I did that for months. So I I can relate. If you do mine, even if you had just one rig, one motherboard with like five GPUs coming out of it running full speed, that alone can power or heat up a home very nicely. Now, imagine having 10 of those rigs or 20 of those rigs. It's insane.

19:34 It's insane. But you just have to make sure you have enough power for that. Uh outside of this as for chartwise Bitcoin is still kind of okay doing what it has have been doing in previous times. Whatever we recover from bottom it's never a straight it's never a straight shot upwards. You always have a lot of this going on before you have a true recovery.

20:04 So, if you look at what's going on right now, it's really no different at the bottom of 2022, except we are a lot higher. Back then, we were bouncing up and down from the 20s down to our low of 156,000. Then, we started bouncing again and then we we had a big dip and then we started going again. And you know what? Very similar. Very similar. And it was around the same time frame, too.

20:33 History doesn't repeat. None of these candles will ever be identical to previous candles, but the movement tends to rhyme. So, that's what we're seeing right now. And here's another another chart that kind of measures bullish structures. And we're in one of those times right now. And it's again very similar to the bottom of the last cycle 2022 when the structures were all bearish negative and then they started turning positive like right now.

21:10 And even during those positive times, Bitcoin did not just go up linearly again. It had a lot of falls, a lot of dips along the way until we finally broke out and then never looked back from 15,000 all the way up to $116,000. But we had to wait. We had to wait. But we're at the very beginning of that. So, we just have to wait right now as well. All right.

21:51 Outside of that, uh, not much else. Uh, Sana is scraping the transaction feature used in the $270 million drift hack. I don't know what feature. Uh, I guess durable nonsis. I have no idea what that is, but this is the right move. Overall, there have been way too many hacks. Binance 6.3 billion hack. didn't help things either. I heard their CFO resigned.

22:27 That was it. I mean, just the CO CFO. I mean, it should really be the head security officer resigning. It should really be the CEO also resigning and CZ also resigning, even though he keeps saying he has nothing to do with Binance anymore. Nothing. He's just a shareholder. I don't think anyone in crypto believes that. All right, that is it today. Pretty strong rally day other than Nvidia.

22:59 So, we're back to 75,000 which is good. A lot of things are recovering on my watch list except strategy. Strategy is down two and a half%. Not sure why they're down today. Uh Robin Hood kind of recovering still trying I mean the these guys are so far off. So far off. AMD is having a good day obviously from the Nvidia debacle but still they're way off from where they were before.

23:31 I mean tech off was so brutal. But you know what? Whenever we have these whenever you find bottom it's a golden opportunity. No one knows where it is, but that when things have fallen 30, 40, 50%, especially with good companies. DCA is never a bad idea. Yeah, I was looking at auto charting at Ask Clash, too. Uh if you look at weekly, we are bouncing off or using as a resistance a couple uh indicators.

24:10 Um so overall no structure nothing like that has been broken. We didn't make a new low right is actually MACD is still actually positive. Uh haven't flipped to the red yet. RSI is actually right in the middle. Not overbought not oversold. If you look at a bull band and we have fallen to the midpoint which is actually quite normal, right? So, if you're looking at a weekly, we're actually quite okay.

24:38 We haven't really changed or broke any patterns or momentum. So, that's good. And by the way, auto charting is on Ask Clash for people that don't know. All right, let's do some Q&A. Trump will give kids preemptive pardons like what Joe Biden Yeah. You know what? I was thinking about that. Obviously, he's going to do it to his entire family, but that kind of pardon has to have limitations, right?

26:00 They can't be pardoned from all future crimes. That makes no sense. So, it has to be very specific. Maybe like crypto crimes or something like that. I don't know. I don't know how these preemptive pardons work. I don't think they were ever used before. So, it's supposed to be used, you know, if someone's in jail and you thought they're wrongfully accused, then you could pardon them.

26:28 But now it's like you're doing it before they even commit a crime. I don't I don't actually know how that works. It just seems like it's wrong. Like a president can't be doing that. There's usually a drop after midterms. Can we see a usual cycle upturn? A lot of the charts show that stocks and crypto rally hard after midterms. Normally speaking, not right away, but if you look at the last three times, we had crazy rallies afterwards, especially after 12 months.

27:14 So from now to next year to this point, we should be up tremendously. But obviously, we have some we have some tailwinds that we have to get past, right? like this war that just never seems to end and high inflation and elevated rates. These are things that hold markets down. So, we need to get past them. Yeah, that's what Biden did. Yeah, he did it.

27:57 Biden did on Hunter. Right. I guess he was afraid of the laptop scandal or whatever and that never went anywhere. I don't I don't again I don't see how president gets to do that. That shouldn't count. You can't just give people preemptive pardons. There has to be a limitation. And uh and again it can't be for all things. What? So, you pardon your kids from from murder and they can now murder anyone without without going to jail?

28:30 Like, how how does that even work? Do you think a new Congress will resubmit a more restrictive Clarity Act? They probably will, but I think the Clarity Act thing is dead. There's no reason for it. It was more of a show. I think it was more of a show to show crypto people that hey, they're working to help crypto, but you don't really need it at all.

28:59 It was just a big song and dance. I feel like the CFTC and a C SEC are both very relaxed on crypto and that's the only thing that matters. They set all the rules. So, if they're not going to target people, they're not going to target people. If they create some kind of new rule for stable coins or for trading or prediction markets or whatever, then that's the lay of the land.

29:25 You don't need a clarity act. You never did. So, I don't think they're going to bring that up again, especially now with the Democrats because if the Republicans do try to push it, yes, the Democrats is going to shut it down and put a lot more restrictions on it. But there's there's no need for it at all. The only things in there that were different than what we have now is like rules around how to earn yield from stable coins.

29:55 And again, if the CFTC, you know, they're the agencies behind uh they're agency behind um commodities and a stable coin is basically considered commodities. They could just set whatever rule they want and and has to be followed. Uh Ray did some research. A pardon is a blanket coverage, but only federal crimes only up to the date of the pardon. Really?

30:41 All crimes? You don't even have to say anything? Well, at least it takes the future part out. But that means if you committed any crime, all crimes up to the point that's federal. So then if they want to go after someone, they basically have to go with a state charge. The state have to charge them because then the pardon doesn't count. That just seems like it's so that's abuse right there.

31:44 Yeah. And really, Congress can't really push anything forward either because Trump will just veto it all. So, there's still that. I think there's a rule if the president vetos like three times then something happens it goes to the Supreme Court or something like that. Um so if they wanted to they can still push something forward but I I forget I forget.

32:18 You know what? Rather than not know, let's just ask Yes, but only with a veto override. So it can happen. In the US, Congress enact a veto build if the House pass it by twothirds and the Senate passes by two/3. If both chambers meet that threshold, the bill becomes law without the president's signature. Oh wow. Okay. So if it gets vetoed once then they could have another vote and if both sides pass by 2/3 then it becomes law without the president.

33:28 Okay. So that that's actually that makes sense because you have to be able to override the president in some cases. You shouldn't have to, but uh they did have they did create a way to to get around it. Twothirds is still tough though. That that's really tough. Even though I think Senate even though it's controlled by Democrats, it's not two twothirds.

33:52 Like you would have to get a lot of Republicans to flip too, which is still very hard. I think the House would be easier. I don't again I don't know how was the overall percentage. But yeah, I I think this interview uh showed a different light and uh and I like it. I think if he was more I think if Trump was more uh I don't know how you say it. if he was more open or more truthful or more I don't know less deflecting, less fingerprinting, I mean fingerpointing, I don't know.

34:49 I think more people would uh would like him at this point. I just feel like he lost the trust of everyone, even even diehard Republicans. But you know what? Things could change in the next two years. There's still two more years left. Or it two years or three years, man. It seems like it's been seems like it's been uh forever. I think it's like still three years.

35:13 I think it's only been one year. Yeah, I think it's only been one year. Wait, two years. No, it's two years. Yeah, it's been two years. So, there's two more years left. 2024 was election. Man, time flies. Thought it was like last year, but no, it's two years. I have no idea. Oh, he was asked about who who he would endorse um besides Vance. you know, who would make a good president.

36:01 He's like, uh, you know, Rubio, he said a few senators, but he didn't name names. Like, I I don't I don't know how the 2028 elections going to go go, man. I I don't see any strong candidates. Vance is definitely not going to get voted in. Rubio, he's probably not more popular than Vance. So, Republican side, I I don't know who. Um, really don't. And then I don't on the on the Democrat side, man.

36:31 Now people are saying AOC. And if it's not AOC, who else is it? Is it is it Newsome? Like there's I have no idea. I don't know who anyone is actually really qualified. Why can't we have like better candidates? Why can't we have someone that's just common sense? like just get rid of red and blue. Just like elect people that have good moral grounds, had good common sense, and could lead the country in the right way.

37:10 Like I don't know. I don't know. Definitely not Bernie Sanders. Bernie Sanders to me is like like Larry David. like he looks the same even though it's been like 20 years. Like he has not aged in 20 years. Um he's one of those people. Yeah. I don't know. No idea. Yeah, I don't I don't think I could ever be a politician or elected official. Like, you want to think some of these elected officials are good people.

38:26 They're honest people, ethical and moral. I just don't see how that's possible. Like especially the higher you go, the more corrupt they become. And I just don't see how that will ever change. The system is just kind of broken. Usually the more money you spend, the more that you the higher you go. Um, but this last midterms was kind of like the difference maker because guys like Elon put in like close to $500 million towards the Republicans and most of them still lost.

39:08 Especially like in Texas, he deleted all his tweets. That's the first time people have seen that Elon mass mass deleted all of his tweets. I don't know why it's like people already screenshot it and stuff. It's really easy to see, but he delete all his tweets about going Republican and stuff like that. Um, but it was kind of like one of the only times where you saw so much money being poured into midterms and uh it had no effect.

39:44 But I would never want to be in that position. It's too much pressure and you'll get hate from both sides. No matter what you do, there's no winning. Okay? There's no winning at all. No matter what you do, I try to lead, you know, my own project Clash and CWD and FPS as best as I can, but still, you're always going to have people that question it. People always think it's easier said than done.

40:10 People making suggestions that obviously won't work, but they feel like it will. So, you have to answer them. Like, that's just such a small scale compared to what these elected officials have to go through. Or maybe just they just don't care. They just give a good speech and they don't really care. That could be the case, too. And that's why things never really change.

40:48 You know what is funny? I tweeted this out. This shows how much money Elon has. And again, I'm not one of those I'm definitely not on the left saying that, you know, there should be no billionaires. But Elon spending455 million in midterms is an astronomical amount. Most people will never ever most families and line lineage will never get to 455 million.

41:13 But $455 million to Elon is the same thing as $455 to a millionaire or $45 to someone that is worth $100,000. Take a second to think about that. If you have $100,000 in your bank account and you spent $45 on midterms, does that affect you in any way? Obviously not. You could go out and spend $45 on a dinner if you were a millionaire spending $455 on dinner or foods or something, right?

41:59 Does that affect you? No. None whatsoever. $455 million is the equivalent of that to someone that's a trillionaire. It's the same same percentage. So, just take a second to think about how much money that is. How much money a trillion dollars is. Yes, he doesn't have it in his bank, but he can sell stock. He can leverage that stock. He can borrow against it easily.

42:34 455 million to him is as meaningless as $45 or $455 to the rest of the people. That's just insane. That's so insane to think about. I can't comprehend that. I really I really can't I can't comprehend that level of wealth. It's just insanity. Insanity, man. Anyways, I saw something else about how Bill Gates, if he never sold all his Microsoft stock, he'll be worth 1.4 trillion.

43:20 Uh because Bill Gates at one point in time for many, many, many decades, was the richest person on earth. And then he decided to sell it all and start going down this slippery slope of overpopulation, creating vaccines that basically decrease life expectancy, all this like weird nonsense stuff. And he's been shorting Tesla for a long time. And you know, now he's jumping on the AI negativity bandwagon.

43:57 I don't know. He's just been all over the place. Andrew, that's how much he spent on on donations, campaign donations to Republicans in the midterms. 455 million. So it's like Trump change. if he really want Republican win, he should have just donated four billion or 40 billion um and got real serious. You know, it's all campaign donations, all tax deductible anyways.

44:49 So that that also makes it more me meaningless to him. Oh my god. Oh my god. Just when we thought this was over, Trump questions midterm election results, revives voting machine conspiracy. Man, he was a he was a just last week he accepted it. Things were good. Now I hope this doesn't turn into big debacle. I was just saying how he was uh more truthful and open in the 60-minute thing and he admitted a defeat and everything.

45:44 Now he's doing this. I don't know. I I think a lot of this is just like whatever. Just deflection, distraction, really just getting people to pay attention to something. He's trying to control the narrative. He doesn't really believe in that. He just again trying to control the narrative. Um I don't know. He knows how to get the press to cover anything he wants them to saw.

46:27 Jeff says, "If a family inbredads for hundreds of years, how big could they get?" Well, if you think about it, the entire Earth population, right, is inbred. Every single person is. If if you believe that, you know, Adam and Eve populated the world, where did they where did their children find mates? There was no one else on the planet. So, everyone's in bread, right?

47:01 If you think about it now, I I've heard some people, religious people say, "No, no, no. There was other people on Earth." I don't know. Maybe I I maybe I got the story wrong. I thought it was just started with Adam and Eve. They were the first two people on Earth. Then they had kids, their three kids. I don't know where their three kids found their wives, but you figure their their grandkids didn't have a lot of options.

47:30 They're probably marrying each other or having kids with each other. So, everyone on the planet's probably in bred, if that's a legit story. It's just, you know, just a thought exercise. There's not much else to talk about. If you guys want to ask crypto questions, go ahead. But, you know, there's not a whole lot going on right now. buy the Nvidia dip.

48:25 Yeah, I don't think Johnson is going to resign. No way. And most people are supporting him. No one thinks that Nvidia will be led better by any other person. So, yes, this will go away. And plus, they've been oversold for a while now. So, they were at 240. They're down to one 186. That's a pretty good dip. That's a pretty good dip. Nvidia is certainly not going anywhere.

48:52 They're selling every single chip that they have. You know, they can't produce enough of it. So, they're going to be fine long term, for sure. Well, we're we're seeing a little bit of recovery. So, uh I don't know how much got liquidated. Probably a whole lot. Yeah, 1.2 billion in the last 24 hours. So that dip cleared out more leverage, more liquidity.

49:54 Now we're recovering back up to where we were a day ago. Um, but this is what happens, you know, when you get too too greedy with leverage. This is what happens. So if you're going to throw on those 2x, 3x, 4x, fine. Don't be throwing on 10x, 20x, 50x, 100x. One volatile swing like this will wipe you out, right? And it always happens. Like I bet you this point right here was was like some level that caused maximum damage.

50:37 these guys, whoever dumped plus the market makers, they know how to liquidate as many people as possible. Okay? So, whenever you like have this leverage and your liquidation event is at whatever point and you're like, there's no way that it's going to get hit and no way I'm going to get liquidated. And then boom, you know, Bitcoin at 76,000. and you're like, there's no way it's going to fall to 735.

51:06 And then it happens. You get liquidated and then you rec and then we recover. You're like, well, is my money back? No, it's gone. It's gone forever. Yeah. I I don't think uh I don't think it's a surprise for a lot of billionaires to be having, you know, side chicks or affairs or whatever. But the problem with this is because all the scrutiny with China and them, you know, trying to pull to parody with AI and getting chips and all this stuff.

51:53 So, this this Chinese spy is uh is what makes it worse. If it was just like a normal girl, no one would care. Uh but because she's alleged Chinese SP unless she's not and this whole thing is like a farce, just a way to get, you know, get to Jensen. It could be. I don't know. But it seems like there's a lot of reports that show that she is she's been leaking secrets to the state.

52:24 Um, so yeah, but again, I don't think it's really going to affect Nvidia long term. And Jensen, you know, I got to say he looks good because he's Chinese. Asians age very well, except me. Um, he looks pretty damn good for a 60some year old. If he dyed his hair black and he dressed a little younger, I would say he's like late 40s. He he could pass the late 40s guy, but because he has gray hair and he's always in a leather jacket.

53:04 I don't know the leather jacket adds to his age, but he's in his 60s. He looks good for being 60s for sure. Um, yeah. No, I I've aged tremendously. People around me have said how much I aged within the last few years. I probably aged like like 20 years in the last two years. Like 10 10 years per per year because of lack of sleep, too much stress, not good eating, all that stuff.

54:04 I used to look so much younger. Now I just look like a middle-aged person, which sucks. Aging sucks. Getting old sucks. I'm really I I'm really uh hopeful in the next 10 years that medical advancements will be so good that we will get anti-aging vaccines or drugs and um and cure for basically all diseases. So basically anyone that that lives in the next 10 years will will almost live forever if they choose to.

54:35 I really think the AI will bring those kind of advancements. I'm looking forward to it. Then you don't have to worry about anything. You don't have to worry about eating right or having enough sleep or exercising. We'll all just be super fit all the time. Going bug. Genesis 4:14. I shall be a fugitive whoever finds me and kill me. Cain. So the world is populated with more than Adam and Eve.

55:20 I I've heard people say that. Okay. I heard people I heard people say that the world was just full of like bad people, okay, or savages or whatever. And then you had Adam and Eve. So, I don't know. But again, I thought the story was just Adam and Eve were the first two and Eve was created from the rib of Adam. So, it was just really Adam. Um, so I I so I don't know.

55:51 I don't know. The story got twisted or changed over years or what what happened there. See, you know, Phil, I always had this uh I always had this thought like, you know, you see movies or whatever where you have immoral immortal people or vampires that could live for hundreds or thousands of years. If you were immortal and let's say you were 200, 300, 500 years, but you were in a body of a 20-year-old, would you still act like a 20-year-old?

56:33 I'm thinking no. You would act more like a 70-year-old or 80year-old. You're just tired. You're mentally, you've seen it all. You've done it all. you don't really you're not gonna do things that a normal 20-year-old would do. You may have the energy to do it, but mentally I would think you just don't want to do it, right? Like you know how the older you get, the more annoyed you are of other people and and stuff like that.

57:03 Like imagine if you lived for like 200 years or 500 years. You would be more so like that and you would be very annoyed by just talking to anyone, right? You probably just live alone and do your own things. I would figure that's how it would be. It wouldn't be like the movies where you see like a vampire that's like 20 years old and he's really 200 years old and he's still acting like a 20-year-old.

57:30 That wouldn't be that wouldn't it wouldn't make sense. Yeah, just uh another interesting thought. So if we come out all these drugs that double the life expectancy of people, you know, it sounds like it's all great, right? Like it sounds like, yeah, it's awesome. Everyone's going to live to 200 and uh until you like actually live through it and realize, well, now I got to work for 150 years.

58:19 I can't retire until I'm 150, right? And think about how much more annoyed you will be of other people and going out and doing stuff. Even though your body may be able to take it, you're probably just going to stay back and not do much. So then you're just wasting more time and you're working more. You know, that might be reality. All this theoretical talk, that may be reality in 10 years.

58:44 I really think we're going to have some major breakthroughs with medicine in the next 10 years because of AI. And you know, we'll have people living to 150, 160, 170 in no time. And what you could do with all that time? It' be like Wolverine. Wolverine's like 200 years old. Anyways, have a good one, guys. On that note, Nvidia CEO cheated with a Chinese spy.

59:19 That's no good. Obviously, uh, the war still ongoing, so that's no good. Trump did a 60-minute interview, which I thought was a good interview. I watched many clips of it. I'm probably go watch the whole thing. It's a different Trump. Different Trump. Less combative, more reflecting and admitting. So, I think this is a good interview. Not that it changes anything, but it was a good one.

59:47 Uh, outside of that, let's see what the rest of the week brings. And we are recovering up from this big 1.2 billion liquidation dump. Let's see if we could recover fully today. All right, have a good one. Take care.