Congress Crypto Hearings (Transcript)

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Congress Crypto Hearings

[00:00] Welcome to bit better have my money. I am Mitchell Stulken and little were were kind of moving back to normal looks like after the big round up yesterday. So take a look here at the portfolio right now. And uh, some of the movers are door up 20 percent on the day, which I believe is up 28 percent so earlier. So it’s moved down some. But that is a big, big move for, for just the day and down 14 percent. Let’s look at that one, see what the three days down eight percent. So I went up and then kind of came crashing, crashing down to be expected. Art are, let’s take a closer look at that, that see if we go on the three day and Delta won’t work. Okay? Don’t need to look at that then whatever a deep brain. Shane got five slash 23. I bought in at five 79 on that one so that one could head back up.

[01:06] The lowest I think I’ve ever bought in that is five slash 28. So I thinking I’m thinking about buying some more. Actually have dragon chain a funfair down six point five, two percent. Most everything’s down icon down 10 percent loom 14 percent down. And I actually have another buy order in. See if she closed. She didn’t. I think I have a binder in at 3069 and it’s at 3099. So if I want to get some of that money out of there and move it to, to DBC, I better maybe do that here in a while. Um, take a look at that afterwards. Uh, Power Ledger is actually down 12 percent, but that was on a gigantic run. And I’m actually debating, I’m looking right now, if I could get in, let’s see it around 47,000 or 4,700 bitcoin price roughly. Uh, it shot straight up and this is on the three day chart to about 55 and then it kind of fell back down to 50 1:52 and then shot way up to like 58 again.

[02:29] And then it’s fallen now. And this is right where it’s at now at 51 77. And right now is where it shot up last time, so I’m going to keep watching it. If it starts to move up quite a bit, I might do a quick buy and sell on that. See if I can change it. If it keeps fallen right now I’m probably going to be looking at the 47 or 45 range. But even in the week it’s up 16 percent. So you know, if, if you go to 45 that’d be where I’d be most comfortable in a. But we’ll see how that goes. Calm. Kind of watching that right now. So if you’re listening to this to morrow, which would be Thursday, check out power ledger, see how that’s looking. Salts down 11 percent. I’m actually surprised salt’s not doing better but cryptos so new.

[03:23] It’s a lending network. Kind of thought that one would keep going up. But everything’s down. V Chains kind of beat me up right now. That’s down seven percent. We power seven percent. So really the only one that’s up humanic up to percent crypto. Twenty two percent. That never moves a ardour up 20 percent. So only three in the portfolio, actually down five point three, two percent today, uh, which with the big jump yesterday isn’t too bad. So we are at point three, eight, five bitcoin. So we’re at point four yesterday up from point three, two of the other day. So I’ll take it. I like it like where it’s at and I’m definitely feeling pretty good way. The markets are right now. Let’s check on chain Fx, bitcoin kind of hanging out. It’s just down about three, four percent and my xbox just started talking to me.

[04:21] That was odd. So anyway, a bit coin down, three point or point seven, four percent, uh, at 7,000, $289. So it’s really been hanging out, hanging out around there, which is good to see. Uh, I believe see 78 was the next resistance level. Um, let me check on my phone here. Actually had it and now I don’t put a believe. Yeah, 77 to eight k’s the next next resistance level. So we shall see what it does here. We’ll see. Also, if the 6,800 level becomes a new support, hopefully it does and hopefully it keeps moving up. We’ll take it a etherium is actually down as well, which pretty much everything will be. I assume it’s down six percent at four slash 72. I’m probably gonna buy Uber Queen jumped up to 7,300 right now. Products are going to buy some today. I didn’t buy yesterday or today, Wednesday.

[05:30] Today’s Wednesday. Today’s usually my by day. So yeah, I’m gonna buy some more today. A bitcoin theory, Iom, probably some light coin. Uh, but we shall see the top gainers on the day. Our door. No big surprise there. Twenty one percent a vtc. Vert coin. I actually almost bought into that along long time ago. Up nine percent. Almost 10 percent on the day. So Vert, vert coin doing up a 100, 13 percent on the year. Doge up eight percent. Stellar lumens of six point eight percent. Uh, they actually got, I forget what it’s called, Cherian. Now I’m going to have to look quick. Uh, they actually got, are the first crypto to get approved, uh, with this. And now I can’t find it. It’s a s, a s h, a really weird.

[06:33] Ah, there it is. Sharia, Sharia certification. I’m not exactly, I’d never heard of that. But, uh, according to this stellar enters the Middle East becomes first cryptocurrency to gain Sharia certification. So, uh, I actually just read this today. Uh, the Sharia, I’m not even sure I am pronouncing that right. A review bureau bureau is a leading international sharia advisory agency licensed to this Shit Central Bank of Bahrain. So it looks like it’s pretty big deal. Allows them to basically be some currency and be used over there. So that’s pretty, pretty exciting. Um, yeah, approved the financial application of stellar, stellar marketing, a milestone in their mission to achieve global financial access. So, and they are the first to gain access to the, to the money transfer, an asset tokenization tokenization space within countries in the Middle East and Southeast Asia. So that I just read today. I’d never heard of that.

[07:50] Obviously I do not live in the Middle East. I live smack dab in the middle of the United States and South Dakota. Uh, so I’d never heard of that, but it seems to be a pretty big deal just reading this article today. Obviously the first being the first is always a good thing, but, uh, you obviously must have to get approved by these, this bureau to be able to do anything over there as far as, um, currency wise. So stellar. I actually like stellar. I do own some, bought some a while ago. I hope they do well. And anyone else who owns them probably hopes they do well as well as well. Uh, all right, let’s go over here to the biggest losers to the day. Sends centrality down 20 percent. They are actually down 77 percent for three months. They’ve been out for months. So

[08:45] I think we’ve talked about that one before. Loom down 16 percent. Uh, like I said, I’m looking at buying in it that I will, if my, by the time I’m done recording this, if it hasn’t closed yet, um, and it may have already, I uh, might move it to some might move it to DBC, but uh, I sold, got like 15 percent profit just on the 16th. So two days ago I did that, excuse me, and uh, so yeah, if I get in, get in now and it goes back up, make quick, quick little profit on that, uh, and down 15 percent, 14 percent, but on, on chain affects pretty much everything is down. It looks like there’s 10, maybe a few more around 10 that are up, which doesn’t surprise me after yesterday, everything’s probably going to come back down. That’s usually what happens.

[09:45] Ah, let’s switch on over. So there’s congressional hearings today. Fricking fray. But sometimes I wonder. So there was actually some positive news here, a CFTC, which is the commodity futures trading commission. Uh, so guy there and he, this is actually, I really like seeing this. Basically he said, don’t, don’t try and regulate too much right now. Um, which is exactly, you know, if we regulate too much and try and put rules in place, we’re going to stifle creation and stop it. Make it harder for people to create things. It’s so new that how are you going to regulate something when you don’t know exactly what it is, how it’s going to be used. It just needs to be approached slowly, thoroughly and thought about, um, and, and we don’t want to stifle and that’s never a good thing when you try and stop innovation or anything that stops innovation.

[10:56] I mean, that’s what our society does innovate. We want to keep going. So it’s a very tough place because on one side, many of us would like some regulation to get some clarity on where we are, but there’s a fine line between too much and too little, so it’ll be extremely interesting to see, see what they do. Um, I really like that this guy said that and calm, calmer heads prevail. Hopefully. So hopefully they talked to this guy some more because that’s one of the better things I’ve heard lately, that people aren’t just trying to shut it down and that just come at it with an open mind and let’s make this work because it’s not going anywhere. The technology is not going to leave. Just imagine if we shut, shut down the Internet when that came about. And well, let, let’s get into this other side of it. So good on this guy. Um, yeah, Daniel, I can’t say his name. Daniel gorfine remarks from Dan regard. Fine. Yup. So good for him. Good for him. But let’s get to this other guy. Let’s go. Let’s go over to here. This guy is just Brad Sherman, Brad Sherman. This, this guy. It’s just unbelievable. The people that are in charge. So if you’re looking at this guy like I get it. People get in, in, in charge and they, they can’t know everything, but really if you don’t know about something, don’t try and act like you do basically. Basically if you watched the video of it, it’s pretty

[12:55] bad. This guy basically says that a bitcoin is used for a narcos and drug dealers, tax evaders and criminals. So I guess basically he’s calling me and you criminals tax evaders blah, blah blah. Uh, and that, that only criminals are going to, to use that. There’s no other use case for it. It’s pretty sad. Really. Um, he called him a Crock, but the thing that’s really

[13:33] bad, he, well, he says this, we should prohibit us persons from binding buying or mining cryptocurrency, which is the stupid, just terrible, terrible thing to do first of all because the rest of the world is going to keep going. So let’s just imagine if they said no internet here, but then the rest of the world had internet. It’s just unbelievable. But this is the worst part is the largest donor is a credit card processor. Allied Wallet. Uh, so imagine that. Imagine a credit card processor. They don’t want cryptocurrency because they’re not going to get all the credit card fees and things like that. Whatever they process, he doesn’t even under understand the use cases. He was saying why people would use it if we wanted to transfer, we have cash, we can go to a bank and have it. Well, yeah. And transfer their, yeah, I can do that.

[14:32] But then I get charged up the ass, uh, to do bank transfers and wire transfers. Then there’s late fees and I gotta have a certain amount of money in there. It’s just stupid. Uh, so this guy was just, it just, and these, these are the people in, you know, they, he obviously doesn’t, I hope, I hope he doesn’t know what it is and he’s just talking out his ass. The sad part is he, maybe he does know what it is and just doesn’t care, but if you don’t know what it is, bring someone in who does the ask the questions, like why would someone. It’s just frustrating that they get people asking questions like that. Like they probably didn’t even read anything about it or they just don’t care. Um, it is hard to understand. I don’t know how old this guy is. He looks a little bit older, but even for younger generations, it’s hard to understand this tough.

[15:32] You have to put in effort. Uh, it’s not the easiest entry to get into, but whatever. Just. And then unfortunately the guy they had on here too to rebut him wasn’t very good then they really didn’t let him talk either, but he, he just wasn’t very good. Um, I’ve heard Chris Bernadsky, I’ve actually heard him talk about things that they should have had him in there, get him, get him in there to rebut whatever they’re saying. Um, so unfortunately that was one of the downsides, but there’s going to be there. That’s what’s going to happen. I do believe that other people are going to come forward because it, like, it’s not going to go anywhere. It’s not leaving. I’m basically this Brad Sherman was seeing criminals only use bitcoin because if he thinks it’s trent not transparent, you can’t find it, will you, can you. It’s semi private.

[16:42] But I mean that’s how I just found this out today as well. That’s how they found out about the Russian hacking into the DMC. So you can trace bitcoin on another side note here. I actually wrote this down so I wouldn’t forget, but apparently that the reason for bitcoins jump yesterday was a, someone’s $190 million short got called a short call. Got liquidated. So yeah. So basically, uh, the guy who is short that much got closed out and had to buy $190, million worth of Bitcoin to cover his contracts. So that is a lot and since 190 million is definitely a lot, it kept buying the order book up at higher and higher prices till the contract for Bitcoin was fulfilled. So a guy tried shorting 190 mil worth and it did not work and when the price went up he had to fulfill his obligations and so the price kept going so that, that’s one thing I found out about one of the reason possible reasons for the jump up yesterday.

[18:01] Other than that I haven’t watched any movies. I just played the evil within last night. I rented it and the Games funner and longer than I thought it would be. So I, I took it back and it was actually on sale on Amazon for $24. So I bought it. I’m just going to buy it, take my time. So long game it’s kind of stealthy. So it just. And I’m not very good stealth person, a more of a running gun guy. So yeah, it uh, and, and I’ve actually, I’ve been doing all the side quests and blah blah blah. So it’s just taken me a lot longer. I’m really enjoying it. Don’t really want to. I’m like the story too. So I want to get everything I can out of it. I’ll probably never play it again so I might as well take my time. But with that, would you kindly go ahead and tap the like button? Just tap it. Just like you buying bitcoin have is 15 bucks. Just go ahead because you know, you know, you would tap the button then you know you would hit it. So hit the subscribe button. Just go ahead.

[19:08] Alright, good job, uh, got to give a shout out to Trevor Nash, Keller, the from above Crypto as well for sending me the short information today. So shout out to him if you haven’t checked out above crypto.com, go ahead and do that. He was the one that hooked me up with the short info I gave you today. So props to him and we’ll talk to you later.

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