Chainalysis and Amount Of Bitcoin Sold. Cool Hand Luke and Scarface (Transcript)

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[00:00] Welcome to be better at have my money. I am Mitchell Stulken again here in the wonderful basement, which is actually pretty nice because it’s hot today is nice. Cool. In the basement. I actually prefer basements. So let’s take quick look at the trading portfolio up to 3000. All right. Awesome. Woo. Doing, doing so. Good there. Uh, so it’s, it’s going up a whatever. Look at some of the coins here. See how we’re doing about 50 slash 57 day trend salt is down 33 percent on the seven day trend. Everything. Everything is down between 13 and 33 percent. So that’s awesome. Whatever is what it is. But on the 24 hour trend, which is good, uh, everything is up. So see where we’re at here. Dragon Shane up 16 percent. That’s good. That was actually fallen real hard. Syndicator bounced back here a little bit. Fifteen percent. So yeah, everything is between 16 percent and go to the bottom.

[01:20] Bullet point five, five percent on Solaris. So whatever it’s positive. That’s on the 24 hour. If we look at the hourly, most of it’s down. So nothing too crazy, kind of know how it’s been going up. Market went down, bitcoin in particular, and, and uh, etherium, you know, how that goes is what it, what happens. But the 24 hour here for Bitcoin, it’s up to 6,596. So it’s up actually four point four, eight percent today, which is great. In theory, I’m up to 5:13, that’s up at eight point five percent. So movement moving around, um, biggest mover the day, holy cow, 31 percent raiden token raiden network token, which is an independent protocol layer that uses hashed timelock contracts to facilitate trustless payments over the theory of blockchain. That’s actually down 70 percent in six months. Ouch. Ouch. Must’ve been, that’s weird. Anyway, so that’s top gainer.

[02:36] Dragon chain actually looks like it’s 19 percent bitcoin, eight, 10 percent eos. Big Jump, 15 percent. And accordion on chain effects, there’s no top losers. So wow, let me look here. All maker. Wow. Too. So on, on Shane Fx, they have 105 coins. Now the only one centrality is down five percent and maker is down five percent. Everything else is green, so that’s positive as like I said, bitcoin goes up here and everything is somewhat follows a found a neat little thing today. Kind of look at market caps. I found it interesting. So the total overall market cap is actually a. So it’s up two percent, so that is six point two. One billion. That’s insane. The total market cap is $277 billion almost to 78 bill. That’s just a ton of money. But what I find interesting here, so in the past 30 days it is down $79,000,000,000, which is 22 percent.

[03:52] That is so much money, so much money. But over the past year it is up $166 billion, which is a hundred and 42 percent. That is so much money. Just blows my mind, blows my mind. I’m also the thing we got here for Bitcoin, it’s on a nomics this website, I’m an m I c s pretty cool. Interesting. Uh, so like shows there 17 million circulating supply of bitcoin and there’s only a total of 21 million. So percent circulation is 81 percent getting down there. It’s kind of cool how it, how it shows all this. A 73 percent down from its all time high bitcoin. Quite interesting. One hundred and 61 days since the all time high. Yeah, I’d be.

[04:54] I can hear my wife yelling at my kid gets there right above me. She’s yelling at him for something. Who knows? It’s the boy. He’s seven and he’s a, he’s a boy. He just, he probably spilled. Who knows. Anyway, so back to this, uh, the top ones are for the market cap here. Got Bitcoin. Ethereum, 51 billion ripple at $21, million bitcoin cash, 15 eos up there at nine and it is actually up one point one 6 billion in the last 24 hours. A 13 percent. That’s interesting. Anyway, that’s on nomics. Let’s switch over to some news that came from chain analysis and they actually go through and look at the Bitcoin blockchain and they had some interesting data that they reported. So pretty awesome of them anyway. So what it showed is an April 2018, there are approximately 1600 bitcoin wallets with at least a thousand bitcoin in each.

[06:08] So that isn’t really, you know, it’s not too many wallets, especially when you look at how, how much bitcoin is. So, uh, it kind of went in to say that the bitcoin whales collectively hold 300 or sorry, not 337 point 5 billion of the cryptocurrency or close to a third of the available total. So that’s a pretty big deal right there. So these whales hold a third of what’s out there. That’s pretty crazy. So they could really, they could flood the market if they really want it to and just drive the price down. But I mean there’s no reason for them to do that, which is good. They also, if they don’t sell it, it will make it, you know, supply drives, supply and demand. It’s how it works. If there’s limited supply, price is gonna go up. So that’s really interesting. I had no idea about that until I, Til I read that.

[07:09] Um, another interesting thing they came out here and said is that longterm investors, so people who got in on this really, really early and have just held and waited and believed in it, at least that’s what I consider the longterm investor of bitcoin. Maybe they just respect you live there are smart either way, but these longterm investors sold $30,000,000,000 to new people between December 2017 and April 2018. So that’s a lot of money and obviously they’re cashing out. That’s when bitcoin was at it’s highest. So they probably made a ton of money during that time. And what really, really important information that comes out of this from those investors selling to the new investors is that the available supply of Bitcoin to trade was up 57 percent since December 13 or December 2017. So from the September, the amount available. So the supply went up 57 percent.

[08:23] That’s a lot. That is one of the reasons why the price is down as much as it is more of it. The less, the less people really see, see it. Uh, you know, if you take away something for somebody, they’re going to want it more. Well with that 57 percent jump these longterm investors weren’t holding it anymore. There was more of it out there, price went down, demand went down. It just, yeah, I found all this super, super interesting which leads to another thing with this available supply out there now that that is available, available to trade. So one or two things really needs to happen for the price of Bitcoin. And like I always say, the way bitcoin goes, everything kind of follows. So we get bitcoin price up, everything else kind of follows suit. But the way we get bitcoin price up with this 50 percent, seven percent out there is either these new people that came in and bought from the longterm holders.

[09:34] These new people need to become the new long term holders. So they need a huddle, like everyone just hoddle. So they need to take the bitcoin they bought, put it in wallet and don’t sell it, wait, just hold it. So that. And that’ll a lower what’s have out there available to buy. So it lowers the supply and ups the demand. So that’s one way. Another way is new money, like everyone always says, got to get new money in there and got to get new money in. And Oh God, I always hear. Um, and now I can’t think of the word which is institute. There is institutional money. Got It. I’m waiting for institutional money. Well, it’ll probably come, but I’m not going to just wait on that. So we need new money, either new retail investors like you and I or we need institutional money, but new money’s got to come in and I don’t know how soon the retake because that was a big roundup in what?

[10:39] January, December. Some people came in and they got burnt and they got a bad taste in their mouth and they left. And then there’s other people like you that may have, he may have gotten, maybe you got in way before that maybe got in then and you’re still around. So that’s awesome that you and I probably aren’t going to be able to move it, but we need the people that left to come back, um, or at least we need them to get rid of the bad taste that everything left in their mouth and eventually they will come back. Things, you know, things will come back. The uh, the technology and innovation is definitely outpacing price. So once things like regulation get taken care of or there becomes a lot of usable products becomes more mainstream, people understand it more. That’ll bring in new money. But I don’t know, you know, I have no idea at time wise, I wish it would be soon, but it could be at the end of the year.

[11:36] It could be in a few months. It’s tough to say, but I do know is that once prices start going up, people are going to talk about it more. It’s going to be in the news more and there’s going to be these people coming in wanting their piece. That’s just how it always always is. If you’re here now, still while the market’s down and you’re out there learning, listening to this, getting information, you’re going to be much, much better off. So I congratulate you on that and it just blows my mind again that when these people, these longterm holders sold that it drove up the, you know, the available trading up 50 percent, 57 percent, that’s just a lot. And there’s no way a price can sustain itself. So it’s not, it’s actually a good thing. It fell back down. It’s, it’s able to consolidate and it really seems like it’s consolidating pretty strongly above 6,000. So that’s good. I do, I’ve heard people think it’ll fall farther, but I don’t know. We’ll see either way. If it does be ready to buy, that’s for sure. With that, it’s kind of all I got for you today. I just kind of came across this and found it really, really interesting how it’s actually going to go into security tokens, Dave, but I’ll save that for tomorrow. This was, this was interesting. So with that, we’ll shift into the movie portion and if you’ve watched youtube videos, uh, on the back hanging up on the wall is posters, scarface and cool hand luke and scarface. One of my favorite movies, probably not top five. If you haven’t seen it, watch it. It’s a

[13:26] yeah, it’s just so good. Output. Chino is just fantastic. Just a really good movie. It’s long, but it’s really good. And then cool hand Luke Paul Newman, that is actually the first movie I remember watching it. I was

[13:39] a senior in high school and my buddy and I were in a hotel and we were actually actually drinking beer and we couldn’t go anywhere because we were under age obviously. No, I’d, I’d never had, that’s not true, but yeah. Anyway, moving on. So we couldn’t go outside so we were just sitting in there and flip it through the channel and came to that. He said he’d seen the movie before, said let’s watch it. And I remember sitting there watching it thinking this is just an amazing movie. So if you haven’t seen cool hand luke, that

[14:11] might be in my top five, might be for sure it. Um, it’s close. I think I like Cool Hand Luke Warren, scarface, two separate movies. But it’s first time I really saw Paul Paul, Paul Newman, and nobody knew I probably saw color of money when I was younger and didn’t realize, hey, that’s Paul Newman or, or thinking anything of it. But when I saw cool hand luke, I was like, man, that guy, that guy’s legit. Um, he’s just the epitome of cool. I guess 19, 67 cool hand luke and it has a hundred percent on rotten tomatoes. That is amazing. Audience Score, stupid audience score. The audience scored at 95 percent out of 63,000 users. It should be 100, but the tomato meter, whatever is at 100 percent good for rotten tomatoes. Then nailed that one man. I love that movie. Belong to of there’s a spot that it drags. But mazing movie.

[15:18] Well, out of curiosity, let’s see what scarface has on rotten tomatoes. Now it’s gotta be like nineties. Oh Wow. 80 two percent. That’s stupid. Rotten tomatoes is dumb, sometimes you can’t, you can’t really go off it. I mean audience scored a 93 percent, so that makes more sense, but I don’t know how. Who doesn’t like scarface? Anyway, that’s all I got. That’s it. Thinking about going over security tokens tomorrow. I’ve been looking into those lately and I hope you guys are having a fantastic day and with that, would you kindly hit that subscribe button or like button whatever you’re on and if you’d like to comment that would be awesome too. If not, that’s fine. Whatever. I’m tired today feeling a little goofy. Alright, that’s it. Have a good evening. Day, night, morning, afternoon, brunch time. We’ll talk to you later.

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