welcome back everybody to altcoin daily the best investment you can make in cryptocurrency is an
investment in your own education and knowledge is power in today's video i'm gonna clue you in
to the biggest stories going on in cryptocurrency that you need to know about i'm gonna play you a
video clip there's a lot we have to talk about in today's video so smash the like and let's
jump right in cardano has delayed its much anticipated vassal hard fork its upgrade
due to pending bug fixes what you need to know is this cardano has postponed its vassal hard
fork upgrade to the last week of july input output global the company behind cardano
cited seven bugs as the reason for the delay the vassal hard fork is supposed to significantly
improve cardano's underlying performance so cardano is moving the date of this back and this
is a big upgrade if you're unfamiliar with what the vassal hard fork is and what it's going to do
listen to this the vassal hard fork is cardano's most significant update since the alonzo hard fork
launched last september it comes as part of cardano's long-planned transition from the
so-called gogen to the basho era dubbed an era of optimization improving the scalability and
interoperability of the network where the previous eras focused on decentralization and introducing
smart contract capabilities to the network basho is about improving cardano's underlying
performance to better support d5 applications specifically the vassal hard fork will introduce
four key improvements cip 31 32 33 and 40. these upgrades are supposed to overhaul the logic behind
some of cardano's plutus scripts together they are meant to reduce the size of transactions
thus increasing the network's throughput and reducing transaction fees it's hoped that the
hard fork will improve the concurrency problem that has severely impaired the scalability of d5
apps on cardano this is now slated for late july perhaps a strategic move considering
market conditions have been so abysmal lately either way when this happens and it's
happening relatively soon this will be a major improvement for cardano in other news and again
this is a pretty big deal uniswap labs buying ethereum nft aggregator genie watch out open c
uniswap is making a push into nfts uniswap has announced they have acquired genie xyz to allow
users to buy and sell nfts directly on uniswap i liked this promo video that they tweeted out
it is an exciting future for uniswap when it's competing directly with openc watch this
and then in other news solana nft marketplace magic eden perhaps the most popular solana native
nft marketplace raises 130 million and the big news is they're planning a multi-chain expansion
the top nft platform on solana is a newly minted crypto unicorn with 1.6 billion valuation
and it's going to add other block chains of course they're going to add ethereum and who knows what
else polygon who knows what else the fact is even though this is a solana product meant to boost the
solano ecosystem they understand that the future is multi-chain and users are going to demand
multi-chain big news for users big deal for solana let's talk about bitcoin in 2022 let's
talk about price action as we finish out the year bitcoin has now played out the same 62
decrease the same as we saw here is happening here from the 50-week simple moving average rejection
zone low as it did in the 2018 bear market what's the takeaway we are either at the bottom
or very close to it in my opinion most likely though even if we're at the bottom the next six
months to a year will be sideways ranging chop solidation and by the way sideways includes major
price pumps and major price dumps in the range and no matter how you look at it one thing is becoming
clear bitcoin is getting ready for a mega pump the mathematical structure of bitcoin is categorical
one takeaway could be the crypto market is about to enter into a new major bull cycle
that's possible perhaps it won't happen until the end of the year or 2023 or if it's something
shorter term either way we're going to see a major relief rally at some point because you can't just
keep going down so much without a relief rally and then speaking of the next six to nine months and
actually even beyond that the genie is out of the bottle this stuff isn't going away as you can see
adoption integration all this stuff just continues to happen in the next six to nine months i think
we will see many flock to bitcoin as they realize why it is the number one most valuable crypto
but i think many are going to flock to ethereum too also alternative layer ones cardano solana
l2s game phi d5 and much more in crypto the world is trending digital web 3 is a natural next step
speaking of ethereum ethereum's merge to proof of stake is right around the corner and there
are some bullish metrics associated with that over 12.9 million each are now in the ethereum
deposit contract that's over 10.6 percent of all circulating eth at current prices that's over
14.2 billion securing ethereum through staking so that was some of the biggest news of the day
for the rest of the video and this might be the most interesting part and this is also recent
news but for the rest of the video let's check in on some of the most bullish people of 2021
and see if there's any atonement for maybe being too bullish in 2021 a few different people a few
different stories let's start here vitalik buterin mocks plan b's bitcoin stock to flow model amid
price slump what happened the key takeaways are as follows vitalik buterin took to twitter today to
criticize the infamous stock to flow bitcoin model popularized by pseudo-anonymous investor plan b
the model famously predicted that bitcoin would hit a price of one hundred thousand dollars
by december 2021 inviting criticism after it was invalidated by the market buterin pointed out that
if plan b's model was applied to ethereum stock to flow following the merge upgrade its price would
be a surreal number that doesn't exist in nature so further criticism of plan b's model this was
his specific tweet showing how far the price has decoupled from what the stock to flow model says
it should be what plan b's model specifically his stock to flow model specifically says and
vitalik wrote stock to flow is really not looking good now i know it's implied to gloat and all that
but i think financial models that give people a false sense of certainty and predestination
that number will go up are harmful and deserve all the mockery they get and looking back to some of
plan b's tweets of course you know many of us thought bitcoin would hit 100k in 2021 but
did we have as much certainty that it would you know as this tweet people ask if i still believe
in my model november 8th 2020. to be clear i have no doubt whatsoever that bitcoin stock to
flow model is correct and bitcoin will tap 100k to almost 300k before december 2021 in fact i
have new data that confirms the supply shortage is real in my opinion 2021 will be spectacular
not financial advice he saved it with that one he saved it with that one but still
seemed rather certain and people are giving him a little bit of crap for it now speaking of
people who maybe were way too certain and way too bullish in 2021 we have michael saylor being asked
on fox business hey you told people in 2021 you should mortgage your house and get more bitcoin
what do you say to that now that bitcoin is lower so you you've been seen as as this sort of pied
piper of bitcoin and some people are suggesting that maybe you've gone too far that you've been
irresponsible for like for instance suggesting people mortgage their homes and businesses i
want to share sought a sound bite with you in the audience and then get your feelings on that
and if you absolutely love the thing that you're that you don't want to sell it go mortgage your
house and buy bitcoin with it and if you've got a business that you love because your family works
for the business that's in your family for 37 years and you can't bear to sell it mortgage it
finance it and convert the proceeds into the hardest money on earth which is bitcoin so
there are people i respect who say you go too far with those kind of proclamations what do you say
well you know the critics always cherry pick and and they beat up on you at certain times but if
we step back the argentine peso lost 99.5 percent of its value over 20 years and the only way you
could survive is by going into debt and converting into a different currency um that 30-year 30-year
mortgage you could get one for 275 basis points a year ago right now it's 580 basis points so so
telling someone to get to take a 30-year mortgage when you could get one for half the current price
for the rest of their life isn't bad financial advice it's it's a lost opportunity if you didn't
get that cheap money long-term government subsidized that's a reasonably good thing
if you step back and look at the big picture from first principles like bitcoins up 52 percent on
average per year for the past two years for the last five years it's a 51 percent arr for
the past 10 years it's 124 percent arr and that's 10x better than nasdaq over the past two years so
you know there's no statutes to critics i think that the critics need to give people a solution to
their problem and i think if if the inflation rate is higher than the interest rate you would rather
be a debtor than a creditor and a person's just got to take a long view look out over the decade
and ask themselves you know how do i want to be positioned financially and if you can do that
there are opportunities the bottom line i always say michael is that you have put your money where
your mouth is so there's a lot of cheerleaders out there a lot of folks have pompoms you have
the ultimate skin in the game i appreciate you taking the time with us as well thank you so
much my friend also i i liked that they asked him about the health of his company in general hey
your company owns a lot of bitcoin you didn't expect it to go this low how is the health of
microstrategy in general listen to this the crypto crash has kept your name trending for about a week
or so the naysayers their tongues are wagging first i just want to ask about the healthier
company because reportedly there were going to be all kinds of margin calls they're down 1.5 billion
how's microstrategy sitting okay everything all right
we're just fine charles we've taken the long view we've got a 10-year strategy we've got
a great capital structure a lot of permanent capital so uh so this has been an exciting time
but otherwise we're just motoring through it okay exciting as a euphemism like crazy as hell time
exciting like that look bitcoin's gone through three boom and bust cycles in the last two years
since we got involved so if you're a short-term short-term investor this is a high-risk high
beta high volatility asset but if you're got a 10-year time view if you're a long-term investor
it looks like a low risk store a value asset so it all comes down to what's your time horizon and
and and what are you looking for out of the asset in other news gene simmond was questioned about
he was so vocal about being a bitcoin and crypto person in 2021 gene simmons was recently asked
about this rock star legend gene simmons owns 14 cryptocurrencies he says i have not sold a single
position since the downturn gene simmons still bullish and then of course we know about elon musk
hella bullish on dogecoin and actually in recent news dogecoin and actually shiba inu
prices pump as elon musk doubles down on doge is it dog coin season already so elon musk is
doubling down on his love for dogecoin even saying that he has bought some recently or implying it
and then on the flip side in other news and who knows that this will actually go to trial
particularly for this amount elon musk is being sued for 258 billion for promoting dogecoin i'm
not sure if this holds that much water as the american who's suing him hopes it will it's
almost like hey if you talked about netflix in 2021 and now netflix is down 70 or people who are
talking about netflix and excited about netflix at fault legally i don't think so and that is
it for me today my friends i hope i was able to provide value to you in this video clue you
in on the daily doings in cryptocurrency feel free to join our team hit that like button if
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