CRYPTO CHAMPIONS: CONGRESS SUPPORTS BITCOIN IN A BIG WAY.
Just like the thumbnail suggests. Congress is out there pushing bitcoin and its really going to be up to these key individuals to push us over the humps or take a look at who is actually doing that. As far as congress, men and congresswomen and senators, and who is kind of laying to the wayside, also take a look at whats going on. As far as the cardano virtual summit, which is going on this weekend and then out of all the good news, i want to share something which is kind of in the middle of the road and what uh whats going on. As far as speed bumps uh el salvador and their integration of bitcoin, and also im going to talk to you about a speaking event, ill be at uh, which will be coming up october 15th through the 17th. So, first of all lets just jump right in and say the market is pretty flat. I mean right now we got it at uh 1.89 trillion. We were bouncing around 2 trillion, but here we are. The daily sentiment sentiment score given to us by trade, the chain which scrapes all the interwebs and all the different blog posts for the different exchanges. That has also has a direct api into uh twitter and goes through millions and millions of uh tweets, says hey. This is what peoples sentiment is for bitcoin today and the overall market. Now, if we take a look at the coins themselves, uh it is saturday beautiful day today i might add, but uh i mean were just kind of just flat after that news of uh china coming out and banning bitcoin for the 20 000th time.
So weve got uh. Bitcoin is up a whopping point. Eight one percent watch out uh point three: two down for ethereum hovering around that twenty nine hundred dollar mark cardano is the big winner today, six percent. I thought that this would actually happen with this virtual summit, but theres some good news on the horizon, which i want to share to you about what they just talked about and their big blockbuster partnership. So thats whats happening uh and then shane link. Two percent is up and uh. Well, we ill tell you exactly why that is tasers up four percent thats, pretty much it thats whats happening also were going to take a look at sentiment. Lets just go for the projected ranges today and see where were potentially out. If youre a big trader, i am personally not, but if you are take a look at iotex, d5.money, rarity governance hive, i havent seen a long time horizon uma and origin trail all right, so thats whats, going on in the market, lets just uh jump right into Todays big story shall we, and that is that this congress pushes bitcoin – and i am im pretty happy about this – i like to see this, but before we get into who it is, and whos actually doing the right things. I want to just share with you a couple bit of data points, and this was uh from mike gref so mike. I want to say thanks for sharing this and what he talks about here is we just had this dump on friday, which is kind of weird, because we also had options, expiration, uh and uh for the traditional markets, and it just seems like everything, kind of played Into that part, the very right time at the right place and mike says you know, look a history of chinas impact on bitcoin price in 2013, when bitcoin was pretty much a uh, a brand new baby.
Well, 2009, it was kind of like an infant. At this point, um a toddler who knows 50 dip when china announced it was banning bitcoin. That was in 2013., mind you that was like eight years ago and then of course, they banned it again 2017 and they banned it again, 2021. But that was a real ban that was like miners get out. I was so happy this happened, but when that happened – and we all agree, it was a pretty big event. 19. I think it was. It could fluctuate a little bit more depending on you know what you look at. It might have been 25 percent and then todays ban, which was on friday yesterday was five percent ive seen a little bit more eight nine percent, maybe even ten percent. But still you can see the point that mikes trying to make and its a great point, which is china. We know you dont want bitcoin and crypto its not going to make a big dent. However, it still makes a dent with the uninitiated and thats. Why? I put out this channel for the information, so people can know exactly whats going on and this is just fun. This is fud, fud, fud, fear, uncertainty and doubt, and its just not relevant information at this point so uh mike thanks for that tweet. Also, on top of that, uh people will say well. China does and chinas a very smart country, very smart, a bunch of smart people and xing ping and all those guys really well.
They also banned youtube in 2009, which actually is a pretty good move. I hate youtube: just kidding, uh youtube in 2009 facebook, not a big fan of facebook, 2009, google, they they banned it in 2010 and wikipedia in 2019 uh. So when we talk about how, like oh you know what uh theyre just a you know, theyre just playing this 4d chess, maybe theyre not because in all honesty i mean really. What they want to do is really i mean theres, a communist country. They want to control their people right its, not really good to control people when you have a lot of information being disseminated by the masses such as in youtube such as in facebook and such as you and google. So with those types of things then i can guarantee you they do not want their people to sidestep their central bank, so in that regard sure uh, but its just going to you know de evolve and de evolve into a more communist country and um. You know see how that plays out its, not my thats, not my uh role. To talk about that. My role here is talk about the good news and the bad news and whats going on in congress, and this is something that i think was our step in the right direction. Uh. This is senator pat toomey. If you have not followed him on twitter, hes a must follow. Actually all the people im gon na talk about today, uh hes, they he they just get it and toomey comes out and says this.
He goes look. Chinas authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the us. Its also a reminder of our huge structural advantage over china. Like structural advantage, im listening, he says beijing. Beijing is so hostile to economic freedom. They cannot even tolerate their people participating in what is arguably the most exciting innovation in finance. In decades, economic liberty leads to faster growth and, ultimately, a higher chance of living for all, and then we can debate this all all day long but uh. I got to tell you the more its like the more you shut off the rights, the people, the more they want, those rights back and the more they will fight for those rights. Now im not here to uh, incite a revolution. Thats, not the point. The point of this channel but uh i do have to agree with toomey, and i have to say that this is a again. This is a great opportunity for america to step in and take the lead and say this is what we want to do. All the miners come here were going to set forth regulation were going to give clarity and were going to run with it and were going to be the global leaders for cryptocurrency, and you know maybe even uh, mass production and also maybe even ai. If you can get those three in the next 10 years, uh youll be a global uh dominant leader anyhow, on top of that, uh toomey was the one that pretty much pressed uh gary ginzer one of the one of the senators there and says: hey look again.
Gary uh, you need to give us clarity – and you say its all around us, but it doesnt make any sense, because when im looking at it as layman, doesnt make any sense to me, we did a video on this on september 14th. I will look at the very end, fantastic information. It was. It was a two hour uh conference or a hearing which i condensed into about 20 minutes or so, which you can uh just let take a listen to later, but uh toomey is one of those champions of crypto and i want to say thank you so much For doing the things that he does, on top of that, weve also got uh cynthia loomis from wyoming, she says, look, bitcoin is bipartisan, digital assets are apolitical, other slogans welcome, and this is because uh she uh caitlyn long says. Senator loomis just gave a big shout out to senator ron wyden for their partnership of pausing the broad definition of broker in the infrastructure bill. If you remember not too long ago, that bill came about, and it was just an awful uh – writing the way that it was it was put forth and because of all of our efforts, it almost got changed if it wasnt for one senator. I forgot that guys name who stood up and said nope im not going to append this and were going to keep moving forward, but on the bright side, weve still got some pretty big names, thats loomis and then this is uh one of my favorites tom emmer.
I think hes from ohio – and he said this digital authoritarianism. China is forcing its citizens away from decentralized currency and on to the digital yuan. So the ccp uh can track all money movements uh, you fear big brother, but you should also fear what the fed might be designing and uh. On top of that, tom here also had uh the folks over there at uh, coinbase uh come in and talk to him and tell him whats. You know to to kind of determine whats the security whats, a commodity, whats, a currency, and he sat down with him, and i said – and i said hey you know whats great about this – is that uh these people came in talked to the representative and they and Then tom here didnt send them a wells notice or try to sue them like the sec did with coinbase, because that is the wrong move in my opinion, and this is what it all really all comes down to. So i know we hear about this. This horrible news this this awful news about the sec is coming in and and then garys really going to. You know crack down super garys gon na crack down on everybody, but you have to remember its not just be not just one person that can dictate everything you have to go through a lot of different hoops and a lot of different uh chambers and houses and Boats to really get things done and these three people they just get it, they understand what this means and how important it is to move forward.
So i just want to say like every time you hear like some bad negative news. Just remember theres people in some pretty high places fighting for the things that we want. So let me think about that in the comments section and lets move on to our next piece, the kodano virtual summit, so uh. First of all, the reason why cardano went up is because this virtual summit, i think, theres some announcements also, it probably went up because there was a big announcement between cardano and chain link, which we just saw. They were the only two that were actually up beside. I think i forgot the other one, so uh, congratulations looks like cardano is going to be working a lot more closely with the folks at chain link and then just so you know you can go to this right now and its the most its the most interesting Summit ive attended because usually its just like the zoom boxes and people are talking and you almost fall asleep and this ones pretty cool like you can just like, go hang around in a virtual world. When you go up to people, you can start to chat. If you want to, you, can uh and then theres all different types of its kind of like youre youre on a field watching a movie, and then you can go to all the different types of lets see what else is going on: uh governance, main stage, community Catalyst – and you can go to any one of these thats going on right now and you can interact with people you can watch whats going on.
You can uh see the actual uh event itself and just kind of go through here. Usually its actually people talking its not a bunch of these uh slideshows, ah theres, one whos, this guy talking increasing or not building on the networks, but um thats how you go around and you can also find little things like gamification. I think its a very interesting concept. It makes it more engaging thats for sure and thats whats going on. So i can tell you this. There have been some rumors about some big announcements being made here, but uh only time will tell and im not even going to tell you the rumors, because its just the rumors so theres no reason for me to say it. But i do think theres a couple of moderate to huge announcements, maybe made during this seminar. So we will see – and i will link uh how you can actually get to this virtual conference. The ground which is going on today and tomorrow and i believe you can actually watch the replay so check that out at your leisure, so good news going on in the crypto space. And that is fantastic. But i need to talk to you about a little bit of uh some middle of the road. Maybe even some might consider this a little bad news and whats, and what this is. It was a good piece uh written by bitcoin.com. It talks about a rocky start for buchellis bitcoin law in el salvador and when i first read it, i was pretty standoffish im like yeah right, its just fun and people arent.
Really. You know theres theres spreading a false narrative, but in reality you have to take a look and take a step back and just challenge yourself and say this might be true and uh from what i was saying. I mean nothings a hundred percent accurate. But when i look at this im like this does make sense. This makes sense why theres probably having they call it a um, a rocky start. I just call it a speed bump and uh thats the best way. I can say it so whats going on here. So, first of all, this all got rolled out about a month ago or so check me in the comments and then uh people were talking about different protests against the president bouquet. But when it says here on september 15th, there was a the one of the biggest protests against bhukelas government and paul so and then we there was thousands of people that came through, which is where you have seen other pictures its just like they like they like. Have a picture of like 20 people and they make it look like hundreds, but its not really the real case, just an angle of the picture. But this one theyre saying yeah theres been protests and theres been thousands of people which i think is really not too bad. Considering the fact that uh el salvador has between, i think, four and five million people uh, depending on which census information that you get.
But you have to remember this, though: the polls still suggest he still has an 80 approval rating, which is amazingly high for anybody in an office. I dont see thats possible, but okay, but heres the thing, and this makes sense not completely adopted. Well, everyone saw the pictures of fast food chains, accepting bitcoin weve, all seen the one with mcdonalds weve seen the ones with like wendys or whatever else where it says we take bitcoin here as payment. The truth is that bitcoin is still far from being accepted universally in the country. This is from florence. She says theres lines and lines in every chivo atm and uh chivo is the one. Is the app that the el salvadorian government put out for its people? Its a bitcoin wallet and they put thirty dollars with a bitcoin in each of these wallets and she says uh people selling their bitcoins for usd uh yeah. But bitcoin is a success in el salvador. When you say it like that, yeah theres a lot of people, it only makes sense, theyre gon na exchange it for the for the us dollar. Why? Because look at the volatility weve had, if you are making here, let me show you something. If you are, this is the gross national income per capita in el salvador from 2010 1020. last year, the average salary 36.50 per capita 36.50 wont you let that sink in. If you get 30 from the government, thats pretty big money in all honesty, uh and then lets just say that you know we had that blood.
We had a you know: things go down, it reduces by 20 youre like what the heck just happened. I dont have the time and the patience to figure this out im in a developing country. I got 30 and now its worth 24, this isnt this isnt. What i signed up for and im going to change it out for us dollars, because guess what as much as we can play with a dollar and its going away and its really awful and da da guess what its still stable its still stable. And that is just the truth and i dont care, if you are thinking yourself well well, these people should just hold on for for a year or two years or six months when youre in developing country, and you have to feed your family im. Sorry youre going to put it in the u.s dollars, not everybody, but that is what it is and i think heres one of the big problems and it states here the mass of salvadorans still dont understand what bitcoin is or its use cases. The government has a big job in educating its citizens about the true value of bitcoin heres, really what it comes down to think about you when you first heard a cryptocurrency in digital assets, the first one you probably heard was of was probably bitcoin. If you just got into its probably dogecoin, sorry and uh, when you heard about these things, youre probably like that makes no sense.
Why would i ever get into that? And then you took the time and the effort, and you actually learned about you, okay, this is what i want to get into. I want to be a speculator. I want to get into it right. Not a lot of us are putting our entire livelihood into bitcoin and crypto. Some of you are, i dont think, but i dont think a lot of you are and if youre doing something like this in el salvador, you have to understand that those people need to under they need to comprehend what bitcoin really is. You know it gets you out of the monetary system you dont have to rely on the central banks. There is a finite supply, meaning they cant just print it to oblivion. Like in venezuela like like all the money it is set in stone at 21 million. I really do think its only 18, because everything thats been been lost, so give us something that is so valuable and so rare and it is the most secure computerized network in the world ever has seen in that. I think those are the things the pieces that are missing and if we cant uh determine or actually talk to these people about uh what it actually is, they wont get it on top of the other factors i just talked about, which was hey. I got ta feed, my family were starving, we got ta pay the rent we dont wan na get kicked out.
We got ta put this in us dollars so when i say its its a speed bump its a big speed bump, but i think you can be overcome with time. Anyhow, let me know what you think about that in the comments section and then. Lastly, i just want to say this ill be at a speaking: engagement uh. It is called the conscious crypto traders, its between october 15th and 17th, and uh its mostly for traders. I was asked to be a part of this to give an alternative opinion. So, like rob, we know youre, not a trader im like yes, thats, very true but uh. I am there to talk about uh what i do as far as taking profits. How i do things, how i um legally minimize taxes and the things that ill be doing as far as like an updated, if you want to call an exit strategy, but really its, what im doing with my crypto gains as opposed to exit strategy so ill, be There talking at this, on top of all a bunch of uh other traitors, which you know hey im, not uh. These are all the traitor experts, not that i am ah diddy and uh, not that im like a big, huge fan of everybody here, but uh hey. It is what it is, so i just here for to give people an alternative, um opinion about what to do, because this is where its gon na be a lot of new individuals and uh.
That is it so look uh theres a link in the description for that you want to check it out: thats, fine, but thats it for today, so uh. First of all, stuck with me. I want to say thanks so much for uh hanging in there appreciate it. If you liked todays video, give it a thumbs up, also consider subscribing letting me talk about are very time sensitive and thats it for today. So thanks so much.