- That's why you watch the show. - Exactly.
Just so you know. If that's not why you watch the show,
it's probably because I'm incredibly good looking.
Bitcoin dominance: 45.8%
Dropping like a rock.
Look at that ETH!
20.1%!
We tell you Ethereum's better than Bitcoin for a lot of reasons,
not as a financial system, but as an investment, we do believe that.
No.
Katzman says,
"Did you do your homework today, Ben? Or are you just reading articles as usual?"
Wah-wah-wah.
Guess what?
That's all I have to do.
Because I understand it all a lot better than you do.
- So, sorry. - Yeah, to continue to stream.
I actually did read an article this morning.
- Believe it or not, I did read an article. - I believe it.
You don't--
you don't watch my show because of the homework I do on every article.
You watch the show because of my experience and my perspective that's years beyond 99% of crypto.
- That's why you watch the show. - Exactly.
Just so you know. If that's not why you watch the show,
it's probably because I'm incredibly good looking.
Hang on.
Alright.
It's amazing, isn't it?
Guys, there's no reason to panic.
What did I tell you yesterday?
Yesterday, I told you,
we could potentially see some more bottom action if Coinbase gets sued.
Wasn't expecting to be so quick, back to back.
But don't panic sell.
There was no reason yesterday for you guys to get out of this market.
By the time the news came out, the action to the downside had already occurred.
Guys, nothing is going to come of any of this,
except for maybe a fine.
Do you know--
do you know how bad--
Clinton Querry say, "I watch for the common sense outlook,
and MetaMask still has old dog logo."
I need to figure out how to change that on there.
Yeah, I agree with that, on BEN coin.
But, guys, you can't panic in this market.
There's no reason to do it.
By the time the retail is at a decision, is at an inflection point, a decision point,
it's too late.
You've already missed it.
If you're trying to get out before it dumped,
by the time you're pondering it,
you've already missed it.
Now, this is different than what we would say after a peak,
after the beginning of a bear market when you're looking at things
and you're saying, "Okay, actually, like, I think the market has peaked.
Over the next several months, I think it's going to go down."
Then, yes, that's a good time to temporarily get out of the market.
Don't get out of the market on news.
You will lose every single time.
Every single time, you will lose.
Another thing, don't get in the market because of news.
That's also you--
we've seen actually more wins there than on the other side,
but also usually a bad idea, so.
And, like, if you measure this, like, 455 days of, again,
if that scam, you know, March 2020 price action didn't happen,
over a year of just boring price action.
The market likes to scare you out,
and then anyone left, it will just go ahead
- and bore the rest of the people out, right? - Yup. That's where we're at right now.
- And you agree with that, Ben? - Yeah, yeah. I agree. I think--
I think when you look, like,
I'm telling you guys, it's so much different to look at the chart
than it is to remember how it was, right?
So when you go back to that, that pandemic wick,
you have to also understand what was going on at that time,
which was, in January of 2020, we actually finally started moving up.
And in February, the price had gone back to about $10,000,
- which $10,000 was like our $30,000. - Yeah.
- Kind of similar, right? - Uh-huh.
So we sat there at $10,000,
and people were like,
"Oh, my gosh, this is a pre-halving pump. Things are about to start going down."
And then all of a sudden, we start hearing the whispers of pandemic,
of Italy, of Spain, of China.
And then all of a sudden, it just keeps going down a little bit more,
down a little bit more.
Then it gets back down to about $7,000.
Maybe $6,500.
In March.
And then you get that day, March 12, right?
Was the day of the pandemic, crashed down.
You know, and on that day was the day a lot of us were questioning a lot of things,
but it was just totally out of nowhere.
But it wasn't just that that wick down.
It was two--
it was a month and a half of the pandemic starting to weigh on the market ahead of that.
So what you can look back and you can say is,
if we had not got the pandemic,
if the pandemic had not occurred during this time,
then we probably would have stayed steady between about $9,000 and $11,000, I think,
until the halving.
After the halving, you get a crash.
We might have actually seen it.
You know, it's very similar to what we just saw because
if we had stayed sideways and had not had the pandemic hit,
then we probably could have seen it run up much higher before the halving
and it might actually have gone back to about $14,000 before the halving,
which could have set the tone for the entire bull market, right?
But instead, what happens is, we get the price plummet.
So when the halving comes, what does it do?
It goes right back to about that $10,000 level again.
It just returned to where it was,
which is kind of what I can see happening over the summer,
which is with a lot of excitement coming with the FOMC meeting not raising rates,
they don't raise rates in the next meeting,
you got a lot of kind of things bubbling up right now,
where you got Congress.
Yeah, and we're going to talk about this on a video tonight,
what Congress did last week set the SEC up, and they don't even understand it yet.
And we're going to talk about that tonight on a video.
But when we start getting positive regulatory framework for crypto that's not SEC,
that's Congress, which is above the SEC,
then that excitement is going to start, "Oh, here we go!"
And we're going to get right back to $30,000, right back to where we just were.
It's like we're just going to retrace to where we were.
And I can kind of see some similarities between that.
But if you really look at where we're at right now
compared to where we were at in 2019 kind of in the market,
I would say, right now, we're kind of heading into the fall.
Like, we're heading into the fall of 2019 right now.
So we're getting kind of to the end.
When we get to the fall here, like in September,
that's when we should start seeing the market actually move up.
So I expect a long boring summer here.
Now, look, certainly, we--
and I talked about this on my video last week
for when we were looking and comparing the cycles,
like, I was kind of torn
because, like, it kind of feels like there's a lot of bullish action coming up soon,
but it does--
it seems more sense for us to have the sideways market.
So it actually makes sense, you know, comparing the cycles
that we had this big drop because now we got some room
for this excitement to get us back up to the standard level.
So that's kind of what I see happening.
I think it's going to be a long boring summer for crypto.
I think you are going to see a lot of memecoin action,
a lot of NFT action, maybe.
Maybe not NFTs as much as memecoins.
But a lot of smaller coins might do some things.
You'll get some outliers in the top 100 that move up, come back down, that move up.
You know, Cardano was set for a good move here.
And then, of course, now, we got this bad news, you know.
It's not really bad news, but panic news, I guess.
So it's just--
it's going to be a very interesting summer, I believe, here in crypto.
And I think that by the end of this summer, I think we'll see the exit of Gary Gensler.
- I believe. I believe. - Ooh, hey.
- Nice little cherry on top. - Yeah.
But, yeah, I would agree and shout out there's someone in chat saying this isn't TA.
This is Moonboy. This is Moonboy math, or something like that,
which is funny because we're literally talking about the possibility of going back to $20,000.
It's people like that,
I think his name is like One Hitter Quitter,
which is I guess what he does with his thumbnails.
He just read the thumbnail and leaves.
But the thing is here, right?
Like, that's not bull market confirmed we're going to $100K right now.
This is a mistake that a lot of people make, right?
If you watch that whole video,
we talked about the possibility of potentially even coming back down
to $15,000 to double bottom.
But the point of that video is to talk about how close we are to the next halving,
and then every other cycle, right after we hit that halving,
very shortly after, it's another thing that people probably think too,
- is as soon as the date of halving comes, - Yeah.
- we moon, right? - And we talk--
we'll tell you guys that till we're blue in the face,
and still you all will buy like the day of the halving is a day everything goes up.
- Yeah. - And then you'll be like, "Oh, you said."
- We're like, "No, that's not what we said." - Yeah.
- And it's just-- - Yeah.
it's all about, like, that's not really, you know.
The way the market goes is like
just because the bull market might be confirmed, right?
Maybe the bottom's in.
That would technically, in some people's book, confirm the bull market.
But it doesn't mean you go right up, right?
So, again, I don't think it's impossible to come back to $20,000.
We do have, I believe, a CME gap down here.
It's also a very interesting volume level
that if we start breaking some of these highs from this previous range back here,
it would actually make a lot of sense to come back down to some of these lower levels.
Again, this is not the exchange I typically look at, so the levels are different.
But that $20,000/$21,000 level is not possible to come down to,
but that doesn't mean that the bear market is not wrapping up.
So, just, you know, j--
- just keep that in mind, guys. - Wrap it up.
- That's what he's trying to say. - Yeah. Alright. See you guys later.
Bing bong.
"Imagine SEC sues you for selling an unregistered security.
Seems risky AF."
Being in crypto is risky AF right now.
Do you not understand that, you imbecile?
Do you not get it?
You don't see?
First of all, I didn't sell any of these coins.
First of all, I didn't sell a single coin.
Someone else did that.
I took it over afterwards.
Had no knowledge of a sale before that.
No. 2, guys, I want to go back to my tweet here.
I want to go to my tweet.
Was it going viral?
Or it was.
Let's see where's it at now?
Let's see.
Where is it?
Where-- here it is.
663 likes
Not viral.
But it got 500 in a short amount time.
Guys--
and I know James Gunner's in here all the time.
I didn't mean to call you an idiot. I'm sorry.
The crypto Salem Witch Trials are here.
Guys, it's crypto Salem Witch Trials.
Every single project,
every single influencer,
we're all on the chopping block.
Every single one of us.
Anyone who has a name in this industry is on the chopping block.
That seems risky AF, doesn't it?
Doesn't it seem risky to talk about crypto at a time like this?
Guys, Gary is on his way out. I'm not scared of Gary.
I'm not scared of Gary.
Gary has basically won zero cases since he's been in charge.
Even his LBRY case that he won?
That's actually the biggest failure and loss for the SEC that exists
because it set a precedent that the secondary market are not securities.
So, no, I'm not scared of the guy.
I promise you, I swear to God,
I will never be scared of a man with a cul-de-sac on his head.
Ever.
- I also do not believe in aliens. - Yeah.
Okay. That's pretty cool. I like that.
And people, watch the alien cult people.
There are people that are literally an alien cult.
Aliens are their religion.
If you try--
because their religion is science, right?
So science would kind of say that, like, because the universe is so big
and there's so many possibilities out there, there has to be aliens.
And by aliens, I mean more than just plank--
like, intelligent life,
something, give or take, within 100 IQ points of the average human. Okay?
Not an IQ of two. Okay?
Just because space exists doesn't mean that the factors are right for life.
And that's what I believe.
Until you show me an alien face to face,
and I talk to him,
I'm not going to believe in them.
I don't believe it.
People are saying al--
why are y'all spelling aliens with an E?
I don't understand this.
What are--
this guy says, "What the F is an Ellian?"
Guys, it's an extraterrestrial being with intelligence
that you could see and talk to.
Hey, that's what an alien is.
I don't understand why people don't understand that. That's so weird.
December 23, 2020
Literally three weeks after he filed the case versus Ripple, Jay Clayton steps down.
Okay?
Literally exactly three weeks after he filed the case.
He knew he could not win that case. Okay?
Here it is.
Well, no.
Let's see.
He knew he could not win this case.
So, what does he do?
He steps down.
Are we seeing this Binance and this Coinbase case as Gary Gensler's swan song.
He can't win those cases.
There's 0% chance he can win those cases.
"I don't believe in aliens, but if they were real, they would look like Gary Gensler."
There's a lot of crossover between lizards and aliens, as a lot of people know.
Some people think that aliens are reptiles.
A lot of people think that Gary Gensler himself is a lizard person is also an alien.
So look at that.
- Let's watch this clip real quick. - From Mike Dudas.
I can't keep up whether he likes me or hates me.
We talked a little bit on Twitter one time.
I can never remember.
I need like a meter to track who currently likes me and who currently hates me on Twitter.
Yeah, there's got to be an API for that.
Is it "do-das" or "dud-das"?
- I think it's "do-das." - Oh.
- I think it's "do-das," I think. - Okay.
Now, he was involved, I believe, with the--
I think he was involved with The Block,
but he came out, like, said a lot of strong statements he didn't know about the Alameda thing.
Yada, yada, yada.
Alright. Here we go.
Governance is tough.
You could create Uber or Lyft on top of a blockchain technology today.
Well, maybe in five years, you could.
It would have the performance.
Silvio Micali's Algorand
He's a Turing Award winner at MIT that I work with.
Silvio's got a great technology that has performance.
You could create Uber on top of it.
The question is then, who would update the software?
Governance is tough.
Hmmm.
I think this is what we do today.
We call Hester Peirce
and we explain to her that we would like to see Gary Gensler charged
with promoting an illegal security.
- Yeah. - You like that?
- Yeah. - Let's do that.
Okay. So this is the SEC.
This is Hester Peirce.
- We're going to call her live on air here. - Love it!
What is that here? Okay.
Let's call Hester Peirce here.
Alright. Let's see. What is the number?
Okay. This is what you get on this channel.
We do the things that other people are scared to do because they're pansies.
I'm going to start saying pansies instead of the other one.
Do not order any pizzas to that address.
Oh, wait, wait.
- I've got to call gangster. - Speaker.
I've got to call on speakerphone. Duh!
Okay. Let's see. There we go.
This is the office of Commissioner Hester M. Peirce at the US Securities and Exchange Commission. - "Pers"?
Sorry, we can't answer your call. - They pronounce it "Pers"?
Just leave a voicemail. - We've all been saying it wrong?
We'll give you a call back as soon as possible.
Thank you and have a great day.
Record your message at the tone.
When you are finished, hang up or press pound for more options.
Hey, office of Hester Peirce,
maybe I've been mispronouncing.
I thought it was "peers."
But I would just like to say, my name is Ben Armstrong.
And I would like to formally file a complaint against your fellow Commissioner, Gary Gensler,
who's the chairman of the SEC for illegally promoting a security.
There is a video that has emerged of Mr. Gary Gensler promoting Algorand as a great blockchain with utility.
And now it comes out that it is actually a security.
So what I would like to do is I would like to figure out how I file a formal complaint.
I lead a community of thousands of people, actually, millions of people,
and we would like to officially file a complaint.
And I want to have a way where all of my people who are, you know, follow my community
can actually back this up and also take part in this
because it's an absolute fraud that Gary Gensler could could promote this blockchain Algorand,
he even promotes the founder of this project Algorand as a Turing Award winner, gives him credibility,
when, in fact, the SEC has said that he's a scammer---Silvio Micali.
So what I would like to see is, is a formal complaint filed
and how we can back this up and how we can follow this up as a community.
So if you could call me back, I'm sure you guys have my number here,
you can also email me at bitboy@bitboycrypto.com.
Thank you.
Goodbye.
See you, Hester.
We'd also, if you'd like to come on my channel, we'd like that too. Thanks. Bye.
- That's awesome. - Yeah.
I mean, why would we not?
Guys, do you understand how powerful we are here?
The BitSquad.
Do you guys understand how powerful we are?
Hester Peirce's number, by the way, put it up on the screen.
I would like for all of you guys to also call Hester Peirce and also back this up.
Let's get a formal complaint going against Gary Gensler.
I want a formal complaint.
The number is 202-551-5080.
We would like Hester to come on the channel and explain how our formal complaint is not valid.
How in the world can the Commissioner of the SEC get away with promoting an illegal security?
I want to know the answer to that question.
I want to know how he loopholes himself out of this.
Let's go.
Guys, you have the power.
We, together, have the power.
Please pick up the phone.
Call Hester Peirce.
- I guess we've been saying it wrong the entire time. - Yeah.
- And we love Hester. Hester's awesome. - We do like--
we love Hester.
We love Hester.
Hester's the one person that will speak up against Gary.
That's why we want her on our team.
We want her on our squad.
We want her on the team of pro-innovation.
You know, Hester is the one that's sitting there at the intervention and she's like,
"I told him.
I told him this was going to happen.
I told him they're going to come for him.
I tried to tell him.
It's not everybody else's fault.
It's your fault.
But he didn't listen to me.
It was not my fault that you're late to work.
I didn't need to hear that story about the dog."
You know, the whole thing is you never know which one's going to have that,
- that black belt. - Yeah.
Guys, I can't beat somebody who's got a black belt.
I already know that.
I mean, maybe if I come in wearing my Polk High School jersey. Okay?
I scored four touchdowns at one time.
Maybe they'll be scared enough.
But anyways, I digress.
Ton of others said that.
Good stuff.
Guys, let's roll into the XRP segment.
Don't forget this segment is sponsored to you guys by Stake.
Here we go.
And you know what's so funny?
Well, you can play games with crypto, by the way.
Go to bitboycrypto.com/stake.
If you're US, you sign up over here.
If you're international, sign up over here.
XRP is one of the coins that you can play with.
But--
in some parts of the world.
Maybe not everywhere.