welcome back everybody to altcoin daily this is 
a video that you do not want to miss of course   the reason why you subscribe to this channel is 
because on a daily basis we break down everything   going on in the cryptocurrency space we make this 
whole market easy to understand bitcoin ethereum   and cryptocurrency are going through a massive 
supply shock there is so much to look forward   to for the rest of this year and for the rest 
of this decade make sure you watch the entire   video and again there is a supply shock going 
on that most people do not realize 54 of the   circulating supply of bitcoin has not moved in 
over a year this is confidence in the network   this is confidence that bitcoin is about to get a 
whole lot bigger more and more huddlers are buying   bitcoin this is on chain data this is indisputable 
even when the price crashed there's a massive   culture of buying for the long term that's leading 
to a supply crunch and this is what the data shows   this is the culture this is what the data shows 
in fact bitcoin has seen a resurgence in active   entities bitcoin has seen a resurgence you can 
think of this as active users over the past week   rising from 30 percent from 250 000 per 
day to 325 000 active users per day in fact   these numbers we haven't seen since bitcoin was 
around 11.3 k q2 of 2020.

What makes the last   eight now nine now ten consecutive days even more 
special very special from an on-chain perspective   is that everybody is buying from shrimps to 
whales we've not seen a pattern like this   looking back 10 years and that is why i say this 
is wonderful and there's a massive supply shock   my friends bitcoin will be sitting on balance 
sheets for cities for states for governments   for companies small businesses big businesses 
bitcoin will be core to big tech innovation i'm   talking amazon apple facebook they're all going 
to use it they're all going to integrate with it   and to explain this i love michael saylor 
explained just this on bloomberg the other day   watch this this is the future we can see 
bitcoin sitting on the balance sheets of cities   states governments companies small investors 
big investors and ultimately we think bitcoin   is going to be the core to big tech innovation 
at apple amazon and facebook so we just want to   be holding the bitcoin there's never going to be 
more than 21 million of them and we think that   every investor and every company and every 
government on earth can benefit from bitcoin   walk me through how you see that innovation 
at big tech companies around bitcoin happening   at what rate did you say walk me through how you 
see that innovation happening at those companies   that you mentioned i mean facebook of course uh 
you know tried to do libra didn't work out so well   yeah so let's take examples of square and paypal 
right now um and even robin hood uh for the next   65 and a half hours you can't trade equity 
and you can't get banking services and you   can't sell your real estate you probably 
can't trade in gold either what you can do   is trade in crypto and so bitcoin in particular is 
something that everybody can get to 24 7 365 and   that's driving a lot of demand to integrate 
i think that you're also going to see that   bitcoin is an international trust network and so 
for companies like twitter and instagram facebook   and youtube they have issues with spam and cyber 
security and one of the best ways for them to   eliminate spam and to upgrade cyber security 
is to integrate with bitcoin and especially   the lightning network in order to create 
higher levels of credit worthiness and trust   with all of the cyber counterparties that are 
trading on their platforms well of course jack   dorsey is making a big bet on crypto and bitcoin 
with square and of course he's also talked about   how bitcoin could be integrated into the twitter 
platform that said there's also this view that you   know the rise of the blockchain and cryptocurrency 
is a threat to centralized networks like twitter   you know how do you square that well um i think 
that bitcoin is the solution to cyber security   at facebook and twitter and google and and if 
you wanted to improve the quality of the user   experience then you need to have skin in the game 
and so bitcoin provides skin in the game for all   of all of the interactors in the cyber environment 
i think that jack understands that and that's why   he's enthusiastic about bitcoin being integrated 
into twitter and i think that you're going to see   other big tech networks like facebook and apple 
and google and amazon realize that the killer app   is is cyber security integrated into an 
international trust network this is great   perspective and the fact is because we are not at 
a point where amazon apple google or facebook is   doing this yet because we are still early bitcoin 
is only 12 years old ethereum is only six years   old and this is going to happen in waves smaller 
businesses first than mid-size businesses than   big businesses in fact the big news of the week is 
robinhood ipointing and really making a big step   into bitcoin into cryptocurrency to talk about 
the significance of this let's let michael saylor   talk about why robin hood getting into crypto is 
such a big deal interesting what do you make i   know you were following robin hood's ipo what do 
you make of robin hood becoming a bigger player   in crypto you know obviously they've talked 
about wanting to expand beyond trading   crypto transactions becoming a bigger piece 
of the pie they mentioned doge in their risk   factors because uh you know a significant amount 
of the transactions in crypto on robin hood   involve dogecoin you know you know what's your 
take on them becoming more involved in this space   well you know put out a survey 
this week where they actually showed that   uh the number of users in the crypto world went 
from 100 million to 200 million in four months   and the number of bitcoin users has surged 
to 114 million and they're adding two million   bitcoin users a week so this is clearly where 
the excitement is and where the traffic is   and since robin hood wants to reach out and 
be engaged with as many people as possible   i mean the only option you have for engagement 
for the next you know 50 hours is bitcoin or some   kind of cryptocurrency and of course bitcoin is 
the risk-off king of all the cryptocurrencies so   for robin hood it makes total sense that they 
would want to drive that hard by the way guys   if you're altcoin daily fans if you appreciate 
our content if you want to support the channel   get some altcoin daily merch i love the 
mugs i love the t-shirts i like the socks   honestly i'd get a mug i'd get a t-shirt this 
is great swag i've seen some of you wear it if   you tweet your merch at us we will retweet you 
also if you want to support the channel we just   added this thanks button it's like a super chat 
only for produced videos always appreciate the   support my friends it's time in the market it's 
not timing the market there is some of my bitcoin   and i'm not going to sell for 10 plus years just 
the way this appreciates just the fact we are so   early bitcoin 12 years old ethereum six years 
old michael saylor is asked the question again   so you're really holding all of this bitcoin for 
10 years listen to what he says now i know you've   talked about 10 years but when might microstrategy 
sell some of its bitcoin to realize these paper   gains i mean are you saying you won't do that for 
10 years or could that happen sooner yeah i mean   bitcoin is not really a trading strategy people 
joke it's an exit strategy what we want to hold   is a form of non-sovereign store of value forever 
so it's like i had a billion dollars and i want   to give it to my great grandchildren i'm either 
going to buy land or i'm going to buy gold or   i'm going to buy some other tangible property 
bitcoins digital property and so if i buy a   billion dollars of bitcoin there's no reason why 
i wouldn't be holding it a hundred years from now   i took a survey the average twitter 
follower thinks it's going to last   3 500 years nobody's in a hurry with bitcoin 
we're thinking that it's the future of property   you know it still amazes me the market was so 
ultra negative exactly one week ago you remember   this right the price of bitcoin was hovering 
around 31 000 we had that event with elon musk   a lot of people were expecting bitcoin to 
drop to 20 000.

And now while bitcoins at   40 000 the expectations are the bitcoin will 
see 100k plus markets right i'm glad that our   community is smarter than the average person in 
the market because again it's crazy that crypto   twitter was like this just 12 days ago i have 
never been more alone i have nothing no one   all right it's all gone let's talk about 
ethereum ethereum to me is looking ultra   bullish and it's interesting that the mainstream 
media seems to love ethereum that's interesting   to me but as an ethereum holder i really like 
this because often the mainstream media gives   crypto a bad rap ethereum will soon undergo 
a major software upgrade co-named london that   could potentially boost the coin's price this is 
awesome it's cool to see them bullish and i happen   to agree with a lot of what they say there's a 
lot coming up for eth which is going to make it   very scarce staking 6.4 million each locked 
and staking for eight months in the past eight   months d5 9.8 million each the last three years 
and eight months burning activates in a matter   of days so we've gone over this on the channel 
plenty of times ultra bullish on eath nfts we've   reported to you the other day that crypto punks 
were going there was a run on crypto punks with   three aero capital and other entities just 
buying up hundreds of crypto punks and when   you start to look at the data for nfts in general 
the numbers don't lie i mean it seems like we're   in nft summer open c monthly nfts sold has 
never been higher nfts have not seen a dip   so obviously i'm really bullish we continue to see 
the dominoes fall this is awesome wealthfront adds   grayscales bitcoin and ethereum shares what 
does this mean well wealthfront a california   based investment firm with 25 billion assets 
under management will give customers exposure   to bitcoin and eth via grayscale's trust shares 
the financial services firm announced the update   thursday customers will be allowed a maximum of 
10 percent combined allocated in gbtc and e t h   e shares based on their preference this is how it 
starts wealthfront provides personal and automated   investment portfolios for individuals based on 
the risk appetite and income tax liabilities   it offers investments in stocks commodities 
and various other financial products for a   tax to balance portfolio and now they're adding 
bitcoin and ethereum the dominoes are falling   final piece of news one inch foundation so one 
inch is basically like a uniswap it's kind of an   aggregator for all decentralized exchanges to get 
you the best rate anyway one inch foundation plans   to distribute 10 million tokens to compensate 
for gas costs only users who stake 100 000 1 inch   or more will receive a full refund for their gas 
fees do you understand this let's talk about this   the non-profit arm of the decentralized exchange 
aggregator one inch plans to give away more than   23 million to users starting september 1st they're 
basically kind of changing their tokenomics and   rewarding people who stake which if you stake 
obviously you're not going to sell anytime soon   and you become a participant in the network in an 
announcement on tuesday the one-inch foundation   said it would begin distributing 10 million to 
its native one inch in an effort to refund gas   costs for users who stake the token so they're 
giving the gas fees back to stakers foundation   intends to issue monthly refunds for those who 
stake the token anytime between the first swap   in a given month and the day it distributes 
one inch so it's like on a month-to-month basis   project said the original idea for such a 
program came from community members via the   one-inch network's governance forum so governance 
token holders participated in this it sounds like   what an exciting time to be in crypto give me your 
thoughts in the comments below see you tomorrow

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