AI, Bitcoin, Gold, and the Future of Finance

[Part 1 of 6] [00:00] We've issued $8 billion worth of digital credit this year, and the most successful IPO of the year was stretch, it's STRC, it was $2 and a half billion. I couldn't have done any of it without AI. If if we had not had AI, we would be $8 billion less. We had five IPOs, none of them would have happened because I used AI to design the securities and solve all the tax problems and all the securities law issues. [00:29] You know, so I like I'm a big believer in using AI to design new things. And look, I'm just I I focus upon digital credit and security, but there's someone there thinking about how to make the car drive and cure cancer and like, aren't there like 100 million problems the human race has to solve that we've that you're like, well, you're going to need a thousand people with PhDs to solve that. Well, guess what? Now every 16-year-old has a thousand PhDs at their fingertips. And so I'm very bullish. The world's going to be a much better place and and we're going to see an age of empowerment and and abundance because of the digital technology. [01:11] People are greedy when they also try to acquire gold. Not really. I mean, people who buy gold are trying to preserve. I'm greedy. Centuries. We have centuries of people being greedy to go ahead and acquire gold. Well, no, well, you're talking about to acquire wealth. Yes, people are greedy in that they want they want more things. There's nothing wrong with that. But when they're converting what they've earned into gold, that's not the greed part. That's the preservation part. I I I've I've earned all this money because I was greedy. Now I don't want to lose it. I want to store it so I can use it later. I don't want to blow it all right now. I want to hold on to it. And, you know, gold is a way to do that. You can't really do that in a fiat currency that's just being printed, you know, into oblivion. So, uh, but but but, you know, the greed is in the speculative frenzy that accompanies Bitcoin. [02:05] They tell me that I'm the reason they own Bitcoin because they listened to me years ago about economics, about sound money and and and the Fed and inflation. And I'm the one that got them. Plus there's a lot of technology in Midnight that's going to make the use of Cardano safer. Like Midnight passport will be the fastest, safest and easiest way to use Cardano. So, we gain all the usability and. Plus I'd argue Midnight is an essential component for Bitcoin. That Bitcoin needs. When you look at that side of it, you're like, okay, Bitcoin users, they want privacy. So, Cardano could do a lot of the heavy lifting on the programming side, but where it's the private coordination layer is just all that. So, we're actually working on this program, our Bitcoin D5 setup, where we call it the the circle. So, you start with Bitcoin and tap root. I'm going to put 50 Bitcoin with my own money into this. Just 30 Bitcoin. It works. But you start with tap root and Bitcoin. You lend it to a stable coin. So, that all for Cardano through a specialized transaction through the token bridge. And then that stable coin would then be deployed into a yield bearing instrument. And then as you make yield, the yield is converted to Bitcoin. And then it's sent to your tap root. And then Midnight coordinates all the different parts. So, you have like all three networks working together, and you have this circle, and then from the Bitcoin user's perspective, you just give them a button. Make money. Click the button. And then it locks their Bitcoin, they just start generating a yield. The security actually enter the tap root on the Bitcoin network. So, it meets my three rules that I have for Bitcoin D5. One, there's only thing. No other thing. Bitcoin, Litecoin is better money than than fiat, obviously. Also better money than gold. I I think it's I believe it's the best form of money that humans have ever come across. Right? Money being good, being that it's um it's inflation proof, right? No one, no single person, company or or government can print more money, right? Can print money in an inflated way, so the money you're holding, uh, you're storing, right? That's kind of one of the key things about money is you work hard, you make money. You don't want that money to kind of disappear over time, not from your own doing. Right? So that's that's key in Bitcoin, Litecoin and uh most cryptocurrencies um is able to to do that. [02:45] I could have the argument that real estate's better than Bitcoin. For a number of reasons, by the way. Depending on who you are. Um, your audience can probably disagree, but they're probably a bunch of, you know, Bitcoin maximalists. [03:59] They don't have as much Bitcoin as the real estate guy, by the way. No, I I'll tell you right now. Hold on, one second. See, that's the funny thing, dude. That me and my brother were talking about this yesterday. You know, the guys that know the most seem to have the least. [04:42] 100%. That that I can probably agree with you on. It should be a bigger issue within the crypto system and the ecosystem. What do you think? [04:54] I think it will be. I think privacy is going to be the the new if you want in my view, and this is what I'm tasking the investment professionals at Mailstrom to sort of figure out. I think that the standout shitcoin or you know, few shitcoins of 2026 to 2028 will be related some way shape or form to privacy. We already saw the, you know, amazing move of Zcash over the last few months. Yes, it's down 50% from the 780 high, but I think again, my goal is, you know, my mental model is 10 to 20% of the value of Bitcoin. That's Zcash. So much higher than where it is today. But, you know, taking away Zcash, what is the token project or protocol that's going to utilize some privacy technology, probably something related to ZK or knowledge proofs to do something whether that's quantum resistant, you know, yeah, over or can't be anonymize their data or, you know, see what they're doing. Whatever it is, right? These are the things that we're latently afraid of of of what bad things that can happen with this proliferation of big tech, big government and [05:03] Donald Trump getting elected, knowing that we share friends in the White House for all the populist parties of Europe who are under attack. Every single populist leader. If you look at the leaders, and my last documentary was called Silence. I got 18 months in prison for my last documentary. The reason I aired it was because the documentary was so bigger than me. It's exactly what they're doing. Lawfare has been waged against if you go through, I pick anyone. Pick her builders, the leader of the the Dutch party. Pick Marine Le Pen. Any politician in Europe, yeah? Anyone. Pick anyone who has stood up and tried to speak against immigration, and you will see a history. Matteo Salvini, I was with him two days ago, the the Deputy Prime Minister of of Italy was prosecuted in 2020. They said he connect because he's got the boat. He was prosecuted in 2021. He was in charge of the crime. The process is the punishment. Every political leader who's tried to step up was charged. You saw what they done to Bannon. You saw what they done to Stone. You saw what they're trying to do to Trump. That's happening across the board. They've of the totalitarian state. But I think it's probably because they're elected on on very optimistic about the future. More it's not because we're not in. We're assimilate the public already. Public is awake. [06:12] So the other thing about it here is just a lot of you know, it should have had a mutual attack in 2026. What first got you excited about blockchains? Think about it. Oh wait. I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. Was it? Maybe it was the idea of decentralizing a broken financial system. Maybe it was imagining a world where people own their own data and get to sharing the value it creates. Or maybe it was the promise of a fundamentally better way of connecting, communicating, and transacting. The next phase of the internet that empowers us instead of exploiting us. So why hasn't it happened yet? Where we're still living with the same broken system that blockchains promised to fix. It's because blockchains can't keep a secret. Enabling open transparent systems was only the first half of the challenge. For blockchains to really change the world, they also have to be able to protect our sensitive data when it matters. And that's why we built Midnight to bring down the final barrier to mass adoption and unlock the full potential of the decentralized web. Let's build the internet we deserve. Together. [07:30] Ladies and gentlemen, we all know this in crypto, ownership matters. That's why Cake Wallet. Cake Wallet gives you full control of your digital assets, all in one easy to use application. You can store Bitcoin, Litecoin, Zcash, Monero, and many more with just one secure backup. Swap between coins in seconds. No copying addresses, no complicated steps, and even includes Bitcoin lightning for faster payments. And with Cake Wallet built in, you can use crypto in real life through debit cards or gift cards. Simple, secure, self-custody. Download Cake Wallet and take control of your crypto. [08:59] This is Houston. T minus one minute until full data blackout. All eyes are on you. [09:42] Breaking news, there is an astronaut conducting an emergency repair on a global communication satellite that could go dark at any moment. We have a second angle on this. [10:07] Is that guy on FOMO? Oh, yeah. Yeah, let's get back to it, everybody. [10:09] Breaking news, there is an astronaut. [10:27] Opportunity cost is simply this. Every position you take is a position you choose over something else. [10:34] This just in, according to the astronaut's FOMO account, highest in the room, the satellite has been restored. [10:48] Yes. For now, the crisis appears to be over. [10:56] Satellite up and running. Positions looking good, too. [11:13] There we go. United States of America representing. Socialism does not work. Digital assets. Is it better to move money at the speed of light? People are greedy when they also try to acquire gold. I'm here providing What first got you excited about blockchains? Think about it. Oh wait. I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. Was it? Maybe it was the idea of decentralizing a broken financial system. Maybe it was imagining a world where people own their own data and get to sharing the value it creates. Or maybe it was the promise of a fundamentally better way of connecting, communicating, and transacting. The next phase of the internet that empowers us instead of exploiting us. So why hasn't it happened yet? Where we're still living with the same broken system that blockchains promised to fix. It's because blockchains can't keep a secret. Enabling open transparent systems was only the first half of the challenge. For blockchains to really change the world, they also have to be able to protect our sensitive data when it matters. And that's why we built Midnight to bring down the final barrier to mass adoption and unlock the full potential of the decentralized web. Let's build the internet we deserve. Together. [11:32] I am the modern day Tony Stark. [11:50] Welcome, welcome, welcome, welcome. I got loyalty, loyalty inside my DNA. Ah. [15:54] Oh, what's going on? Welcome to the breakdown. Let's do that again. Welcome to the breakdown episode 812, 812. What's up, what's up? What's up, what's up? Shout out to everybody tuning in from all the streaming platforms that we are on. We are on YouTube, but we are also on Twitter. We are on where are we on also? TikTok, Kick, LinkedIn. Getter, all over the goddamn place. Anybody who has a live streaming platform, we're on there. Anyway, I hope you guys had a wonderful, wonderful, wonderful weekend. A prosperous weekend. I hope you went out and touched some grass. Did something productive with your lives. Um, Midnight is the title sponsor of the breakdown, so shout out to Midnight. Midnight City is coming along. Listen, Midnight City is going to a lot of people want to get into Midnight City. I was actually uh in a space on Twitter where Charles Hoskinson came on there and they were talking about it got to the topic of memes and how he wants all the memes, anybody with memes to get onto Midnight City, somehow to absolute collaborate with your favorite meme that actually mean something, not some dog shit meme, but you get what I'm saying. So it might be a bright future for you guys. By the way, let me say this. I've said this before. Anybody, anybody who is able to capture meme culture wins. And I'm talking about protocols. Just look no further. Look no further than to Solana and what Solana's doing. So shout out to Solana. Shout out to everybody who is looking at that crowd. The crowd that I'm talking about is the is the culture trading crowd to try to bring them in. Uh, also shout out to Polymarket. Polymarket is the official prediction market sponsor of the breakdown. If you are going to download, which you should download, the Polymarket app, okay? When you go to the App Store, make sure you put in the code breakdown so you can get $25. It's $25, man. It's $25. So go ahead, put in the code breakdown when you're downloading and you're signing up to the Polymarket app. After you download it, the breakdown, the code, you put that in, you get yourself $25. Also, Cake Wallet. Cake Wallet is one of the most secure wallets that we have in this industry. I say that every time, but I mean that. Cake Wallet, Bitcoin, Litecoin, Zcash, Monero. If you want to hold your if you want to hold your assets in those particular assets in a secure wallet, in a secure environment, you download Cake Wallet. Go to the App Store, Google Play, download it today. Man, I sounded like a goddamn commercial just now. So shout out to Cake Wallet. Also, you got a refurbished, if you don't not a refurbished phone, but if you have a phone that's laying around, factory reset that son of a gun. Go to cakewallet.com and download Cake uh cupcake, okay? Use your phone as cold storage. With everything that's happening right now, I mean, holy shit. We're going to have some of these cold storage companies coming onto the show. We're going to have a discussion, a real discussion. Shout out to those who have the balls to come on and that are not scared to have the conversation because the community wants that conversation. Also, FOMO, fomo.family. FOMO continues to build out. Hopefully, again, hopefully this week or the beginning of, I guess, November, we can get one of the guys from FOMO on and we can go ahead and discuss all the new features that have been put out there on FOMO. I like what FOMO came out. They were they were rumors saying that FOMO's going to build they're coming out with a launch pad and C, obviously, one of the founders came out and said, negative. We don't need more tokens. We don't need more tokens. We need more communities being having conviction in something, believing in something. That's right. I like that. Absolutely. FOMO wins with that See, FOMO will win with that kind of attitude. They could easily, they can easily come out with a launch pad. But it's not I I'm I am telling you if FOMO plays this right and I know they're smart. It's about how do we get what we have already? How do we get people to participate in it? How do we get people to have conviction again? I'm telling you, I think they're going to get it. They're going to they're See, pump.fun is like, hey, let's create more tokens. Let's make more tokens. Because you guess what? Pump.fun is making money and you guys aren't. You know who's making money? Pump.fun. You ain't. They are. You know who's winning? I'm going to say this again. Pump.fun is cleaning out your goddamn bank accounts. You guys aren't winning, okay? Maybe you win on one fucking play, but you've lost on 864 of them. You're not winning. They they win on all 64. You can see what would you say? There you go. Now you can see the G. Sorry. I apologize, master. Sorry, Sheeb. I'm just fucking around. Thank you very much. See, how I love I love my audience, okay? I love my audience. Here they are. Whether you whether you like me or you don't, you come on here to look at me and you you know, the best type, you know, the haters. To me, the haters, the people that dislike you. They sometimes are the greatest, the greatest PR team in the world. All right? The haters. I'm not I'm not saying that Sheeb is a hater. I'm saying sometimes the haters are the greatest PR team in the world. You know why? Because they'll tell you sometimes they'll tell you what's up. And it's real and you don't got to pay a PR staff. Anyway, it is October 28th. Is it? No, 26th, sorry. Apologies. It's October 26th. We're getting close to Halloween, okay? A lot of you guys won't need a costume to dress up. You're already fit the profile, okay? So don't worry. You don't have to spend no money on on on looking the part on Halloween. Y'all already look ugly as hell, all right? And scary as fuck. So don't worry about it, okay? Because y'all y'all don't leave the room. Y'all trade all all day long praying and hoping and praying to Jesus. Oh, Jesus, please. Please, Jesus. God, please let me win. Just one time, I promise I'll be a good boy. I've seen some of you guys. Yeah, listen, God bless you. All right? I've seen some I'm going to just say God all God's children are beautiful. All right? Let let's say that. All God's children are beautiful. All God's children are beautiful. There we go. All right? Don't ever say I ain't say nothing uh Don't ever say I don't say anything nice. All right, let let's run down the markets. The uh the uh the futures. It's up 209, okay? As of wait, hold on. It was up what the fuck is this? Pre-market, it was up 209. Uh S&P 500 futures was up 0.4%. Uh Nasdaq 100 was up 0.7%. Brent was up uh uh Brent was at 114 down by $2 and that was at uh 10:37 a.m. Uh WTI was at 100 down 2.5%. Uh 10-year Treasury just below 5% and that was at 7:00 a.m. Gold was slightly above 4,000. Bitcoin was at 80,595, flat for 24 hours and that was at 11:47 a.m. I'll look to see where it's at right now. Ethereum 2335 down 0.35% in the last 24. Solana 101.27 up 0.4% in the last 24. XRP uh 1. $1.29. I'm saying 1. $1.29 down 0.2%. Spot uh BTC ETFs uh Friday, October 23rd, about 137.9 million net outflows. I bet negative 110.3 million. FBTC negative 31.8 million. Uh the week about 300 uh last week. Uh 301 million in net inflow. Um Fed holds 90.6%. 25 basis point hike at 9.4%. So no cut really in play right now. For for now. By the way, Brazil uh down about their hold their ETFs are down about 26% and that was pre pre-market. So there you go. We're we're done with that. Give me a round of applause. We're done with that. [16:10]

[Part 2 of 6] [ 00:00] [David] There's your market snapshot. [ 00:05] There's your market snapshot. Man, what's happening out there is crazy, man. [ 00:10] They changed the rules and everything out there, boy. They changed the rules. They absolutely changed the rules out there. That's what happens. Once, once communism, once socialism and communism slips in and you approve it, you can't get it out. And I think people don't understand that. It takes decades to finally get rid of it. [ 00:35] I'm going to say this again, once you allow socialism and communism to become a thing in your country, it takes decades to get it out. [ 00:49] Look what's happening. You look at the elections yesterday, all of a sudden, they extended the elections. [ 01:03] Sad, sad shit, man. Anyway, we'll talk about some stories real quick. Let me let me just see something. We'll talk about some stories that are happening right now. Um, I just want to see if everything's working, man. Some reason I thought I thought shit wasn't working today. Give me just one second. Uh, [ 01:37] All right, this is stupid. [ 01:47] This is stupid. By the way, you're on the breakdown right now. You're listening to the breakdown right now. I'm just trying to pull something up here. I'm just trying to pull something up here. Yeah, my microphone is dope. I got to say, it's an expensive microphone, but it's dope. Uh, so, [ 02:01] Brazil and their elections yesterday, right? [ 02:08] Lula won for the first his fourth term in Sunday's vote and Brazil's stock fell about and we talked about it 20% this morning with EWZ, the big Brazilian ETF down 26% uh before the open. There were also reports that obviously the opponent did not concede. [ 02:31] But uh, [ 02:34] it's crazy. Once you allow socialism in, once you allow communism into your country, it's over, man. Apparently last night, apparently last night, they they allowed for later voting in Brazil. And all the late votes came in for the current dictator. [ 03:02] Be careful, America. I don't care, I really don't care what your political affiliation is. I'm just telling you, be careful for what you wish for. You don't like Trump, I get it. I I he rubs you the wrong way, I get it. [ 03:21] But November 3rd, you're going to be going out there and you should be going out there, voting for America. And you heard me say this multiple times. You're voting for America. You're voting to keep America as is and making sure that it gets better. Voting for DSA candidates will not make America better. Okay? Just because you hear the word free, that free does not exist because it comes from somewhere. [ 03:54] That free comes from somewhere. And once the money runs out from that somewhere, and that will be the rich people or wealthy people, then your whole shit collapses. But guess what? The people in certain positions, they're good. The El Said will be good. The Mandanis will be good. [ 04:18] They'll be good. They'll be well off. You won't. You'll be asking where the why are prices higher in these free government stores? Or these government run stores? You'll be asking, why are the prices so high? What did you say? Well, we I who allows you to speak? Freedom of speech comes into play. You hey, I I hope, I don't want to say you'll you'll see. I don't want to say you'll see. What I would say is, why don't you fly over to any socialist/communist country right now and go experience it. And then, once you experience it, come back to America and make your vote. You got a week. Go fly out. Fly out to a communist country, a socialist country and experience the life that these people are living. Ask them. Ask these people in socialist countries, how is their life? [ 05:15] Ask them. Go ahead and ask them. [ 05:21] I'm telling you, it's the white liberal, man. It is the white liberal, man. It is absolutely the white liberal. [ 05:29] It's crazy, man. Absolutely crazy. Shout out to TikTok also that tuned in. All right, let's go ahead and look at some uh, what are the some what are the some of the stories? Anthropic S1 is public. Uh, 16.3 billion half-year revenue, 80.7 billion net loss. 2 trillion target. Uh, Anthropic filed its S1 today. Uh, first half of 2026 revenue of 16.3 billion. [ 06:01] Versus 1.1 billion a year earlier. Net loss of 80.7 billion. [ 06:10] So the revenue comes in at 16. This is where we're at with AI. [ 06:16] You got Anthropic, a behemoth. [ 06:20] 16.3 billion versus a year ago where they made 1.1 billion. But they've lost 80.7 billion. About 72 billion of it non-cash accounting and financing charges. [ 06:42] IFR roadshow launches November 9th up to 100 billion at a 2 trillion valuation. Morgan Stanley, Goldman leading. [ 07:00] Reports are, IPO could come as soon as November 19th, 20th of November. So why are we talking about this and why is this matter? Uh, could be the biggest IPO ever. In the same week, uh, Microsoft, Alphabet, Amazon show whether AI spending pays. Chip stocks rose pre-market, by the way. Do this do this uh, conversation. [ 07:29] Kind of fucking drinks. [ 07:38] It's crazy. [ 07:41] $80 billion loss. [ 07:45] And they're asking for 2 trillion. [ 07:50] If this price is AI trade is back, if it gets cut, the whole sector reprices with it. That's what you'll have to go ahead and watch. If they get the 2 trillion, then the AI the AI sector is going to be flying. If they don't, reprice in. Repricing is going to happen. Meta goes to the market for 95 billion to pay for AI. Meta, a behemoth, Facebook, WhatsApp, Instagram, everything. Meta launched a 35 billion underwrite uh equity raise, about 2 uh 22.5 billion common versus forward sales, plus 12.5 billion mandatory convertible preferred. Then a 60 billion at the market program, a 95 billion total. Nvidia, AMD, and Broadcom express interest in buying up to 5 billion of shares. Stock up 1.6 and that was in pre-market. [ 08:52] Why is this matter? Last week's story was Meta's cash burn. This week's answer is dilution. Shareholders now fund the GPU build directly. [ 09:04] It's the same story. If you if you heard me talk about Anthropic, you're listening to me talk about Meta. [ 09:12] You have the big boy companies, they're they're burning money. They're taking in revenue, but they're burning money. And especially, Muse is free, right? Muse is free. [ 09:24] It's funny, somebody was talking about, oh, look how many people have downloaded Muse versus Grokbot. Yeah, Grok, you have to pay for Grok. The Grokbot costs something versus what you have with Muse, which is free. So they're burning cash. And I and I get it. Yo, Zuckerberg is smart. He's a smart individual, man. He's a very smart individual. By the way, Musk, uh, SpaceX borrows 40 billion for GPUs, says 200 plus Neo clouds face shakeout. [ 10:00] Elon knows what he's talking about with AI. He knows what's happening. He knows what time it is. [ 10:07] He absolutely knows what's going on. 100%. He absolutely knows what's happening. I was reading some of this stuff. He said there's going to be a shakeout. There's absolutely going to be a fucking shakeout. [ 10:21] SpaceX raises 40 billion, mostly uh callable debt to buy GPUs. Musk on X, okay? He went ahead and said, um, debt markets have almost entirely shut off access to money to any company that doesn't have substantial revenue independent of AI data centers. He predicts 200 plus Neo clouds consolidate into a few survivors. Coreweave are each down more than 30% this month and fell about 3% pre-market. [ 10:57] Why this all matters? The richest man in AI just told lenders who stopped funding. That's the credit side of AI trade cracking, not the stock side. So lenders are not lending. Lenders are not lending unless you're profitable. [ 11:17] Now, I just talked about Meta, I just talked about Anthropic. I haven't even touched on Open AI. Right now, we are in a in a time where there's revenue coming in, but they're not profitable because they're burning 10 times the revenue. [ 11:39] Oil slips but stays near a six-month high as Qatar, Saudi, Pakistan and Turkey head to convo. Uh, Brent closed Friday at about 117. Landy was probably happy. It's highest since March 19th, then slipped to 114, down $2 at 10:37 a.m. today. Uh, today is Monday, by the way. Uh, still near a six-month high. WTI $100, down 2.5%. Uh, Qatari mediators went to um, meet on Sunday to coordinate with the US, Saudi, Pakistani and Turkish officials to meet with Iranian leaders today. Trump on Fox yesterday, uh, said, do I make a deal with them or do I finish them off? [ 12:28] Which we've heard this kind of conversation go on. Trump is going to say, should I go meet with them? Should I finish them off? Meet with them, finish them off. I mean, the market is already ha the market has this shit priced in at this point. [ 12:41] Why is this all matter? Lower oil helps the Fed and stocks this week, but strikes after November 3rd are still on the table. But that's Trump. Trump said strikes are still on the table. [ 12:53] Trump every five minutes, I love my boy Trump, but every five minutes, Trump's on a on a different schedule, man. One second he's like, yo, I'm about to sign a deal with them. Next second he's about to hit them over the head with a bottle. [ 13:17] Somebody said, go go woke, go broke. It's true, man. The woke virus is crazy. The woke virus is absolutely absolutely crazy. [ 13:31] Here's my hot take, though. Oil's pricing a deal. Trump's own words are deal or finish them. Pretty much a coin flip. Not a peace process. So with Trump, it's like, yo, [ 13:47] I ain't messing around, boy. [ 13:52] I hate this war, man. I I look, I've said this multiple times. [ 13:58] If they really do have nuclear weapons, if they did really have nukes, I have no problem with it. I really don't have a problem with us going there, even though I hate war. War is the last resort, yada yada yada, right? But if we went there, anyway, I won't even start. Bitcoin uh clinches to 80k into Fed week. One trader bet 68 million on 90k after midterms. [ 14:27] I'm telling you right now, like here's your opportunity to get into Bitcoin. [ 14:32] I've been yelling about this through the rooftops. You you have a chance right now. There is no excuse. You can get into Bitcoin right now. And I am praying for another leg down. I am absolutely praying for a pullback. [ 14:45] I look at charts. I know how to read a chart. I get look, I just want a pullback. I want and people are like, why do you want a pullback, Dave? You've been in you've been in you've been in the space for a really long time. How much Bitcoin can one need? As much as you can get. [ 15:04] As much as you can get. [ 15:08] Bitcoin is about 80,595, flat over 24, down about 4.3% on the week. Spot ETFs lost about 137.9 million Friday, but ended the week with about a 301 million in net inflows. Um, one wallet bought 800 800 [ 15:31] 90 90,000 calls expired November 6th, about 63 million face value. The largest open Bitcoin position there is. [ 15:42] some somebody's going long. Somebody's going really long. [ 15:50] Somebody's going really long that I don't know if we should be looking at this. This is this is the kind of shit that you got to research. This right here is the kind of stuff that you need to go ahead and research and make sure, hey, you know what? Like, somebody's going really long here and they're really confident putting millions of dollars on the line. [ 16:08] This is crazy. [ 16:10] Anyway, why this matters? Bulls are positioning for a post-election pop. I've said this, after the what one of my friends called me and they're like, yo, what's what's happening with Bitcoin? What's happening with crypto? I'm like, midterms. That that's the biggest thing. Every single time we have midterms, this is what crypto looks like. We go into midterms or elections, this is what you see. [ 16:36] People right now are on the sidelines waiting. Also, what did I talk about? You have a lot of people that weren't convinced about it about Bitcoin, that when Bitcoin hit 86, 87, that was that was even for them on their ETFs and they were out. They called up Morgan Stanley, they called up whoever their broker was and they got out. And that's okay. That is perfectly fine. [ 17:04] People don't believe in it, that's fine. They'll believe in it. One day, they'll understand the assets. I can also understand like a lot of these people are traditional stock market traders, man. They see opportunity with SpaceX, they might see opportunities with Tesla. So to them it's like, why am I in Bitcoin? [ 17:25] They don't understand the asset at all. They they don't understand what Bitcoin is. [ 17:33] And you're not going to convince people like that to stay in. You you're not going to convince a precious metal trader, somebody who loves gold or silver, who's who's absolutely in love with it, okay? That's emotional about these assets. You're not going to convince them into, you know, holding Bitcoin. [ 17:53] How many people have we seen, notable people, who have disrespected Bitcoin, but now openly hold Bitcoin? It took them time to understand Bitcoin. To me, it's like we we don't need to rush or pressure people into getting into it. You explain it, you bring value. There's multiple people that we have in this space that bring value, that break down Bitcoin, bring on intelligent people that break down Bitcoin, from that could break down Bitcoin to the 80 to 35-year-olds, to the boomers, whatever. [ 18:30] Sooner or later, they'll get it. [ 18:35] By the way, Sailor didn't buy. [ 18:39] What is going on? [ 18:45] Well, I'm not clapping. It's a more sarcastic clap. Sailor didn't buy. [ 18:53] Sailor didn't buy. Tom Lee, his bid mine, [ 19:02] what is it? He got 6.5 million Ethereum. He has almost 5% of the supply of of Ethereum. Ethereum near breaking below its what the fuck is it? What what is this shit? [ 19:19] Midterms, by the way, uh, I just want to focus on this real quick. Midterms are eight days out. Trump is in Michigan. DOJ moves on Alaska and California. [ 19:31] Trump is a Trump is not leaving Michigan. Trump is going to make sure that El Said is is is not going to win. He is making sure that boy is not going to win. And then, um, who had a there was a fight. I posted this. There was a fight. There's a fight that happened with uh, Dana Bush and the current head of the DOJ. Um, [ 20:01] I'll play it up here later today. It was wild. [ 20:07] It was wild, man. Uh, Fed Fed week set up a hawkish pause and a December hike debate. [ 20:17] What else is there? [ 20:20] What else is there? What else is there? What else is there? [ 20:27] That's about it. There's really no news. Everybody's waiting. Let me not continue to read all these things that I've written down here. Like there is really this is now a wait and see game. We we are in right now a wait and see. Let's call it for what it is. Bitcoin being in the $80,000 range isn't bad at all. I'll take it I'll take it all day long. I, though, I would love to see Bitcoin pull back one more time. I would love to see Bitcoin go to like 65k. I'm going to be honest with you right now. I'd love to see 65k Bitcoin. 70 even 70k Bitcoin. All right, maybe 65 will scare the shit out of everybody. I'd like to see 65k Bitcoin, but fine, give me 70k. But even if it doesn't go there, even if we don't have that one last leg, we're still at 80. It it is crazy the way we talk the market is down. Like I I people are like the market is down. [ 21:32] Right now we're at what what are we at? 79 828. Again, I would have no problem if if Bitcoin goes into the 70s. Zero problem with that. I have no absolutely no issue with that. [ 21:52] Yes, I'm being selfish. I am being absolutely selfish. Guess what? For every person who sells, there is a buyer for Bitcoin right now. [ 22:05] I'm going to say that again. For every person who sells Bitcoin, there is a buyer there to go ahead and pick it up. [ 22:17] I'm not even worried. [ 22:20] I'm not even worried. [ 22:24] I'm not even remotely worried about where Bitcoin's going. Zero. You heard me last week. [ 22:35] And I got DMs and I got people texting me in real life, well, Dave, why are you praying for Bitcoin? Why are you praying for it to go down? [ 22:43] I think it's healthy if we get one more pullback and then we go shooting and breaking all-time highs, great. [ 22:53] You guys are concerned with gains. I'm not. I don't give a I really don't care about the gain part or aspect of it. [ 22:59] I just want to get as much as possible. My my goal is to acquire as much as strategy? No, but I'm going to get as much as I can. [ 23:09] If you understand the asset, then you have no problem. Like there's no if you understand what you're holding, then you're not worried. You guys are always concerned. 60s, oh, it's 70. Oh, it's going to 65. Oh, it's going to 50. Great. Well, that's an opportunity for me. [ 23:26] There's plenty of books out there, plenty of people that are reporting on Bitcoin. It's all over the news now, right? I I've been podcasting what, 11, 12 years. I I've been here talking about Bitcoin. Nobody's going to listen to me because in Uncle Ted, he's looking at CNBC. Jim Cramer says Bitcoin's a buy. Yo, Dave, what's up? Jim Cramer just said it it's a buy on Bitcoin. I'll listen to him. And that's okay. That's absolutely fine. [ 24:01] To each his own, man. Anyway, welcome to the breakdown. [ 24:08] I'm blocking people. I'm blocking people who are sending me messages about why you're wishing for a pullback. [ 24:15] You know why? Because you can rewind the tapes on this show and I'll tell you exact it'll tell you exactly why I want it. [ 24:22] Tell you exactly why. We have Natalie in the back right now who is who is somebody who is well versed in Bitcoin. We're going to bring her on right now. Again, the staff is horrible. I got to tell you, my staff is absolutely horrible. Nothing in the green room again. Nothing to provide the guests with any sort of amenities. Nothing. Zero. Zilch. She'll probably scream at me. She I deserve it. Where is the goddamn overlay? There we go. All right, let's bring Natalie in so we can go ahead and talk about Bitcoin. Natalie, how's it going? How how's everything? [ 24:56] [Guest: Natalie] Hey, doing well. Nice to see you. [ 24:58] [David] Nice to see you too. Bitcoin in its current position. What's that what's the current outlook? [ 25:05] [Guest: Natalie] Well, I think that I would agree that we're at the start of a new bull market, but, you know, Bitcoin's great at giving us volatility when we least expect it. I think we're going to be maybe chopping sideways, consolidating before we see significant moves higher. I think we really have to just stay above that 200 um day moving average. And so I don't think we'll see 100k anytime soon, although some people are much more bullish than me toward year's end. You never know, we might get that Santa rally that brings us back into six figures. But look, I mean, you were kind of mentioning it earlier. We're really focused on the long-term trajectory. Look at what JP Morgan just put out last week. It's going to be the number one performing asset, uh, better than stocks, better than gold. And yet, JP Morgan won't even uh add it to its model portfolio. So that's kind of where we are right now. And Bitcoin's slowly assimilating into the traditional financial system and people are recognizing it's its value and I think it's it's going to stick around and um and and we're going to have more adoption. It just might take a little longer than people expect or want. [ 26:07] [David] You're you're, you know, when you mentioned JP Morgan, you had this smile and I also smile reading it.

[Part 3 of 6] [00:00] And yes, last week we had a bunch of people who who hold Bitcoin and we all kind of laughed on the show like JP Morgan forever disrespecting one of the most or one of the greatest generational assets that we've ever had. And here they are making these predictions over the next 10 years, Bitcoin outperforms almost everything. Um, [00:22] My take on it is, I think the selling is coming from the from people who bought Bitcoin around 80, 6, 87k and they're deciding to go into, I don't know, maybe SpaceX, Tesla. They don't understand the asset, they're selling out. What do you what's your take on that? [00:40] Well, we know that there was a huge capital rotation out of Bitcoin, primarily into AI about a year ago after we crashed from the all-time high. But right now, I think what's creating more of the short-term volatility is actually the leveraged trades. A lot of people are going very long and suddenly getting washed out, and so we see these swings that are largely impacted by more of the macro factors. Um, and so, you know, you have to watch it but take it with a grain of salt because there's always going to be traders and that's what I think has has Bitcoin kind of chopping a little little under 80 and then back over 80. Um, but nothing that I'm overly concerned with. Again, last week we saw hedge funds sort of reducing their leverage. We don't know if we're going to see a Fed rate hike. There's a lot of uncertainty given the midterms, um, and the economic outlook for the next year or so. So Bitcoin's obviously impacted by that. [01:31] Do you think people are just holding back right now because of the midterms and waiting for the midterms to pass, then possibly to go into Bitcoin? [01:40] Yeah, you know, it's interesting. I've had a few analysts on my show recently including uh Jem Carson who are predicting that we're actually going to perform pretty well across the board until after the midterms, at which point we might see some, um, some volatility, a potential crisis, a need for the injection of liquidity. I'm not really sure. I mean, it's so hard to time things and to speculate on when we're going to see a market correction. Obviously, there are certain aspects that feel very very frothy, um, potentially around AI. Some people have called it a bubble, but there's so much demand and we know that we need to build out so many more data centers and there's such a need for things like energy and compute. So it's hard to believe that that's going to come crashing down. And then when you think about it, if we do see a crisis, what do they do? They're ready to come in with programs, they're ready to come in with the money printer. So I feel like we're in this wonky stage where we know that they're going to keep, um, spending a lot. This is what Lynn Alden calls fiscal dominance. And even if we do see some minor corrections, they're pretty much ready to step in. Um, so I don't think that we're going to see some kind of massive crash that some doomers are predicting. And I think all of it at the end of the day again is good for Bitcoin. We might see short-term volatility, but just keep adding to your stack, keep dollar cost averaging, and I really do believe what JP Morgan put out that Bitcoin is going to outperform pretty much every other asset out there. [03:07] Do you think people might be scared of quantum? Quantum computing and, you know, reports coming out that, well, Google had their report in 2029, but we see the AI industry is speeding. Like I've never seen an industry run this fast and, you know, elevate and level up so fast. Do you think that's a major concern on on a lot of people's parts? Because there's a lot of people and I don't mean to break your train of thought, but there's a lot of people I've been watching on mainstream media, they're like pushing Bitcoin, quantum computing, they're kind of pushing that narrative out there to the people. What do you think? [03:40] Look, I think a lot of people out there are scared of it because it's really hard to kind of wrap your mind around something that is as technical as some of these, you know, cryptographic schemes that are being, um, uh, worked on by AI models, these frontier models and, um, and obviously the quantum computer that's sort of like the boogeyman, but we don't even know if one actually exists. I don't think it does. Um, so I think that the threat is five to 10 years out. I think that we have people working on it and that we will be able to upgrade to something quantum resistant. The thing that makes it challenging with Bitcoin is just its decentralized nature, right? That's a that's a feature. Um, it's not a bug, but at the same time when we need to upgrade, that means we need to reach consensus and it's a little bit difficult to do with a decentralized network as opposed to a bank or a centralized agency that just hits a button and says, okay, now we're upgraded. So I think it's just that that's the challenge we have going forward. How are we going to reach that consensus? When is this actually going to be a realistic threat? But it's something I'm not too worried about. Um, and I look to the experts in the field for that. The people that I most respect say, this is not something that we have to worry about in the next few years, but we should be vigilant. Um, we should, you know, use good kind of personal hygiene with our wallets, like not, um, not reusing old addresses, not sending Bitcoin out and then reusing that same wallet address so that your public key is revealed. So things like that, you know, anyone can do in their in their daily lives, but I think a lot of great people are working on this who are much more technical than I am, and I'm just not worried at this point. [05:17] Well, you talk to a lot of great people on your show. Um, my and you mentioned right now the wallets. And that's been a huge issue, right? Uh cold card. Uh over $200 million plus in Bitcoin extracted by whoever it is, uh lovely hackers. Uh and there there's a big thing where people are like, okay, like I've done everything that you guys told me to do. Not my keys, not my crypto, don't keep it on an exchange, keep it in a cold wallet. I put it in a cold wallet. I woke up one day and $1.5 million is drained. And all I'm getting is, don't worry, man, you'll make it all back. How do you like because you're out there, you're constantly talking about Bitcoin. I am also. How do you explain that to regular normies who have done everything that was told to them to go ahead and do in terms of how they hold Bitcoin and how they secure it, and then one day they just wake up and they're drained because these cold wallets, in my personal opinion, haven't done a complete job to go ahead and make sure that they are completely secure. [06:22] Yeah, I mean, we've seen some really heartbreaking breaches in the last year. I mean, to your point, I literally interviewed someone who lost over a million dollars doing everything correctly, having his Bitcoin in a cold storage wallet. It happened to be cold card and then woke up and everything was drained. Um, I think that this puts a giant spotlight on on several things. Number one, that there is this growing risk with these AI frontier models. You know, the the code that has sort of sat dormant and not thoroughly audited as we've seen, there could be vulnerabilities. And so we saw something called the Bitcoin Red Team go out and they were literally examining all of the code using the best frontier models, some of them US-based, some of them international, burning up all these tokens just to see like where are flaws in the code that we can address so that we could sort of be the white hats, right? Like the the good force and and run defense before the offense gets to it. So number one, that's very important. And across the board, um, all of the the digital infrastructure that we use, there needs to be more done to make sure that we've audited the code and everything is secure. We saw what the PHP, um, vulnerability the other week as well. So I think we are going to see more of that cropping up. But number two is the other thing we need to spotlight, which is that you really have to do your homework, your research. Don't, um, carelessly just put your Bitcoin on a cold storage wallet and do things like some people I've heard of, they'll put their seed phrase in like the cloud or they'll email it to themselves. Um, I've always advocated for multi-sig self-custody and that actually is what saved a lot of people with the cold card incident. Instead of relying on one hardware wallet, one company, one device and one set of keys, they were able to decentralize, um, and and diffuse the risk over several devices. And so I really advocate for that. And you can decentralize. I mean, I know at some point it's kind of like, well, how many things do I have to manage? But I would still rather invest in this asset and do that extra work in order to be my own bank, in order to have something no one can print, that no one can confiscate from me, and, um, just take those extra steps to make sure it's secure. Maybe you have a little bit with one multi-key, multi-sig provider, maybe you have a little bit with an exchange that you trust. I mean, it's really a personal, um, you know, investing decision. And I just hope people take it seriously because we are just in this new era of super intelligence and these super fast computers and I think we are going to see much more, um, cyber security threats going forward. [09:00] Young people are angry at capitalism. Uh, why is Bitcoin the answer and not socialism? [09:08] Well, I actually just did a piece, uh, on this. I hope people check it out on X, YouTube, Rumble. It's basically about why everything costs more and it's getting worse. And naturally people do blame capitalism and greed. They think that our system, especially here in America, represents capitalism. And what I argue is that, no, capitalism represents a free market and we don't live in a free market. If our money is able to be manipulated, if we can print more, if we can corrupt the money at its base, then we don't really have capitalism. In fact, I would argue that we've had socialism for the banking sector, for the elites. They get the money printed to them, they get the Cantillon effect, they're at the very top of that food chain, while everyone else is working so hard and prices are going up faster than our incomes, um, can keep up. And so that creates a very real divide. When you, um, expand that system over time, which we've seen over the last 50 years when we've severed our tie to hard money, when we were backed by gold in 1971, we see the effects of it over the last few decades and that is, um, all of the wealth sort of accumulating at the top. Everyone else at the bottom feeling very, very frustrated. And understandably, they're trying to go to the ballot box and they think that more government and more control is going to somehow fix it. And I say, no, that's actually not what we need. We need to fix the money. We need to move to something that actually is the free market. Bitcoin sort of represents the first true free market where prices are set by the market, by the economy, and we can see where where value kind of, um, kind of stacks up and and I think it's sort of an equalizer that allows the average person to start to accumulate capital and catch up in this in this rat race that we've found ourselves in. And it's certainly been a vehicle for that for me and so many people. Um, I often talk about millennials, my generation. We've felt so far behind for so long, not able to catch up, not able to afford what the previous generations could on one income. And I think Bitcoin is one of those tools that you can use to sort of empower yourself financially so that you can feel like you can make decisions about the future. You can achieve financial security and you can be part of a mission that really at its core, um, realigns incentives and brings out the best in all of us. And I do think that money impacts so many more things than we, um, than we kind of give it credit for than we sort of take it for granted. But again, government and more regulation and more control is not the solution. Bitcoin and a free market is the solution. [01:39] Speaking of government, we have a government that has a hard time, uh, passing a bill over for discussion and that would be the Clarity Act. What what do you what do you think happens with the Clarity Act? Do you think that ever that bill ever passes? [01:52] Well, it was a little bit discouraging, right? I mean, we saw Senator Cynthia Lummis, who was such a proponent and out there every single day trying to bring the two sides together on this because Bitcoin is an apolitical technology. And unfortunately, it stalled. I think a lot of it had to do with the president's activities, um, some of the the, um, you know, the the cryptocurrency, um, companies that he's been involved with, that his family's been involved with. And so I think they reached sort of a, um, just they sort of stalled out in the process. So we might not be able to pick it back up until 2030, which is very, very frustrating. But at the same time, let's take a step back and realize that Bitcoin doesn't need clarity. It's had clarity for a long time. It is digital property. Um, we know how it's taxed. We we are able to access it through regulated portals and avenues and platforms. Now we have the ETF. So not that much really changed for Bitcoin, but when you zoom out into the broader digital asset industry, a lot of companies, a lot of platforms were seeking more clarity to better understand how they can innovate, what they can do and how the the investing public can be protected because we don't want to see another FTX. So it would have been great to get that across the finish line. It's unfortunate that it's been so politicized, but maybe in the 2030s we'll be able to get it back. [03:08] But you're fine with the CFTC and the SEC, which is pro crypto. I should say pro Bitcoin also. Um, you're happy with what the with the rules that they came out with. It seems like the rules that they came out with are better than the actual Clarity Act bill that we that's been amended like a hundred and over 128 times. It seems like what they put out was better than what the Clarity Act is. [03:33] Well, look, they're doing what they can with the authority that they have. They're putting out the rules themselves because Congress failed to act at least for now. The only question mark is what will the next administration do, right? Because if we see the political, uh, tides turn, then we might see an undoing of some of the rules that they're that they're putting out. But at least it's a pro, um, like it's progress, it's a step forward. The CFTC chairman Mike Seelig was just on my show explaining the the rules for exchanges that they actually can come in and register. Remember that before under, um, people like Gary Gensler, there was this saying that, oh, you could just come in and register. But when companies tried to, they were sort of met with with a closed door. They didn't know what they were doing and it was largely enforcement by these, um, by these actions and and lawsuits. And so now it's very different. It's much more collaborative. They actually want to work with these exchanges. They want to bring this all onshore so that they have it under a federally regulated umbrella when that's appropriate. Um, so that you don't see another FTX and these offshore, you know, trading giants that allow you to have 200X leverage. I mean, it's so wild that that was not that long ago and I think it did put a giant stain on the industry. A lot of people that I still meet out there, they think of crypto in a negative way because of what happened with FTX and they won't even like open their mind to learning about Bitcoin because they're so scared off by by Sam Bankman-Fried and what happened. So we have a lot of work to to sort of undo the harm that that caused. And I think that the agencies working within their authority are doing what they can to make progress while Congress sort of stalls out on clarity. [05:12] Do you think eventually, uh, I don't know, screw it, I'll say the boomers. Do you do you think eventually the precious metals crowd will take some of their profits, uh, Peter Schiff and the gang. I've had Peter Schiff on the show, I'm sure you've talked to him. I've had him on here three times. Almost got him, almost got him. But uh, do you think, uh, do you think they finally take some profit and swing it over, rotate it over into Bitcoin? [05:41] I mean, I'm always optimistic. It just really depends who you're speaking to because I have certainly met some gold bug boomers who are just not open to Bitcoin at all. A lot of them just did really well investing in whether it's gold or other, um, areas of the fiat system and so they just really don't care. But I've also met so many boomers, especially in the Bitcoin space, who love Bitcoin, who don't look at it as something, oh, too technical, oh, I, you know, I can't wrap my head around it. And I really applaud them because Bitcoin is for everyone, just like my book says. Um, I do think that we are going to win more hearts and minds. You know, the challenge with gold, I think in the news recently, we saw that there's some kind of, um, um, chemistry advancement where they're able to make gold out of mercury, I think. I haven't read the full story, so forgive me. But you just never know. I mean, gold's supply does continually increase. They're incentivized to mine more gold when the price is up. So gold's inflation rate increases. People have been talking about maybe gold on meteors, but there will never be more than 21 million Bitcoin. So, um, as far as scarcity goes, Bitcoin wins on that. And then the other day when someone was talking to me about gold, I'm like, hey, you know, you're you're a couple states away. Why don't you why don't you send me some gold right now over the internet? You can't do that. But you can send Bitcoin anywhere around the world, um, for pennies. And so again, in the digital age, we need to have digital gold and I think we will, um, we will get more gold bugs on our team very soon. [07:15] Peter Schiff, man, uh, I had him, we were debating for about two hours. That that almost broke him, almost broke him, but still Bitcoin's going to zero. You're going to you're you're you know, you're going to be crying and then you're going to be wishing that you converted all your Bitcoin into gold. And Peter, Peter, Peter, man, I'm like, Peter, Peter, Peter. Anyway, I I Bitcoin is for everyone. Get Natalie's book. Uh, it's a really good book. I know a few people who got it. So, congratulations on that. And uh, I'm glad that you came on to the show. And I yeah, I want to pull back. I I want one more pull back so I can get a little bit more. Yeah, I'm I'm being selfish here a little bit, but listen, we got the midterms. They're like only eight they're eight days away and I'd rather collect now before we go, which I feel even with a rate cut because it seems like every single time we get, oh no, not rate cuts, but with a rate hike, it seems like every time we get a rate hike, Bitcoin does go up. So if you look at previous cycles. So I'm I'm I'm very bullish on even though everybody's hawkish, I'm a little bit bullish on on that. So I appreciate though you coming on, Natalie. I appreciate it very much. [08:24] Yeah, thank you so much. Um, I encourage everyone to just learn about Bitcoin. You don't have to go from zero to 100 and put your whole portfolio in it, but those of us who have spent years in it, a huge portion of our net worth is in Bitcoin. So I guess we'll leave it at that. [08:41] I think that's the problem. People don't know you can just get a fraction of a Bitcoin. They see a big number and then, you know, the psychological part is, you want a lot of something, not a little. But I always say like you'd rather own 1% of something than 100% of nothing. So that that's the way I'll leave it and again, thank you. Get the book. Bitcoin is for everyone. I'll put the link out there. Thank you so much. I appreciate you, Nat. [09:04] Thanks so much. You can read the first two chapters for free at talkingbitcoin.com/freechapters. And then if uh, if you're sold, then you can get the book and learn more. [09:15] Thanks, Nat. [09:17] That is Natalie. She she does some amazing interviews with a lot of really good people. I've I've watched the shows. I encourage people to go out there and seek out value and that's value. She she I remember she did sit down with the CTFC uh head and just a lot of people in Bitcoin that can really break it down on layman's terms and you'll understand it and I encourage again, go outside your little boxes that you guys have here, your echo chambers that you guys sit in every single day. Every single day you guys sit in a bunch of echo chambers, bro. Just yapping away about dog. Can I say it? Dog dog shit? Can I say dog shit? Yeah, dog shit. But I appreciate obviously Natalie being on the show. Go get her book. Bitcoin. Bitcoin for everyone. It's a really good read. She just told you, you can go read the first two chapters. I got to rewind though the tape for the exact domain name. Actually, I'll I'll email her. She'll give it to me. Next up in the next few minutes, we're going to have Tony Edwards. Or Edward, excuse me. Why did I say Edwards? What the fuck is wrong with me today? Edwards. Now he's going to be mad at me. And we don't got no water for him in the back. I got no water for Tony in the back. Let me say when Tony does come on, I didn't do interviews. Zero. I've been here a really long time. Here's the it was one of the first shows I went on to. One of the first shows he has his he has a great podcast. He sits down with really good people. Knows his shit. Well spoken. He knows English. That's what I'm trying to say. He knows English. We're going to speak some I'm in those I'm in one of those moods today. How about that? I'm I'm in one of those moods today. I have a staff of AI bots that can't deliver obviously fucking can't deliver anything to the people waiting in the back. This is by the way, this is not alcohol. This let everybody TikTok, not alcohol, okay? Water. It's Mountain Valley. They should already sponsor me, okay? They should sponsor me. Yo, I had a sponsorship request come in. Oh my God. I ain't going to say. I'm I will not say what it was. It was wild. All right, I'll say it. It was for underwear. I was dead. I was dying, man. I was dying. Let's bring um There you go. Put on the right overlay. Welcome to the breakdown episode. What episode is it? 812? My mom was like, you're disgusting. Why would you not get a cup? Why are you drinking out of the bottle? I've always had this thing where I drink from the bottle. She's like, oh, disgusting. Nasty. I can't watch your show. But you can get my book, which is the million dollar AI playbook. You know, you know how hard Wow, what am I saying today, bro? What what is happening? What the fuck is happening today? We bring on I bring in some of the greatest or to me, some of the greatest guests, some of the some of the smartest people within crypto, AI, whatever it is. Here I am saying some weird ass shit. Anyway, let's get right to it. Let's not even wait for 1:15. It's 11:11. Three hours behind, it's 1:11. Three hours behind, it's 11:11. So why don't you make a wish, all right? I wish I can get through this program. I'll make that wish. I wish I can get through this goddamn program. Let's go Let's go ahead and see if I can get through this goddamn program, man. Where is why is my shit not working with me here? All right, here we go. Ready, set, go. Tony. What's up, man? [23:46] David, great to see you. Great to be here. [23:48] You're always smiling. Can I get you mad or no? [23:52] I yeah, I try to keep the positive energy, you know, especially when a day where in the market's not doing too well, so trying to keep the vibes up, you know? [24:00] You know, I don't know what it is. You know, like when you're you've been through so many bull runs, bear markets, and the bear markets are the worst, right? You know, the bull the bull market goes by within seconds. The bear market is here for decades. Just like, man, what the hell? Um, but it's nice to see you. You're doing your thing. Um, love your interviews, 100%. Definitely love your interviews. [24:26] Thank you so much. [24:28] Let's get right to it. You cover crypto every single day. What's the one story from the last two weeks that mainstream media is missing? [24:37] I'm going to have to say tokenization. We're seeing some of the biggest institutions on Wall Street, they are all in on tokenization, David. I think we are past the phase of, is this a scam? Is this a fad? Is this here to stay, right? Remember Larry Fink back in 2018, this is an index of money laundering. That's no longer the case. They all have the same game plan. You're seeing them launch crypto custody, crypto trading, but more importantly, the goal is to put stocks and the traditional assets on chain to move the markets to 24/7. [25:09] You know, it's it's it's funny to watch the same companies that were dogging us for so many years, now trying to figure out how do they put their companies or besides on chain, but using the word, how do we vibe out with crypto? Yet, you mentioned 2018, crypto is a scam. It's funny how the world works. JP Morgan just put their uh token on Ethereum. What do you think about that? [25:38] That is so significant, and I don't think a lot of people in crypto recognize it. Here's why. If we take a time machine and go back to circa 2017, 2018, JP Morgan was working with Consensus, which helped to build Ethereum. But what they did, they didn't build on Ethereum itself. They forked it and formed Quorum. Quorum is a private version of Ethereum. And then they launched their JPM coin on it. Now, Quorum has been rebranded to Connexus. So you may see the name Connexus and you may not see Quorum anymore. But regardless, they are now forced to, David,

[Part 4 of 6] [00:00] bridge to public chains. Why? Because why the hell would I trust your walled garden blockchain that you control, that is centralized. But that's what they were trying to push. And I recently interviewed one of the co-founders of R3, which built Corda, a a permission chain, and a lot of banks were working with them, but then they realized, wait a minute, we got to pivot. So their pivot was to bridge to Solana. So we're seeing these TradFi folks who tried to bypass the public chains to build their private versions, now have to bridge to public chains, which have the liquidity, which have the settlement layer, and if you want to tap into the rest of the market and the rest of the world, you have to go with the public chains. [00:41] You know what's crazy as we're talking about Ethereum, and you know, I I used I I'm still bullish on it, but I was super bullish on Ethereum. You can look back at my tweets. I mean, complete bulltard when it came to Ethereum. Um, but obviously with everything that's happened in the last few years, you know, I've kind of been disappointed. Um, because I I really do believe you I I speak to a lot of the institutional players, they're building on it. But now you see a lot of people moving towards Solana. You mentioned Solana, there are a lot of people moving towards that. But I had an interesting interview last week with the CEO of Canary, and he mentioned XRP. Like out of nowhere, he was like, XRP is what people are kind of hating. Paraphrasing here. He's like, that's the one. And the XRP Army has been out there. They're like, they're essentially what he said is the tech is already ready for anybody who wants to essentially build on. [01:42] What's your take? I know you talked about XRP a lot, Ripple a lot. What's your take on that? I feel almost feel like XRP has a chance to outshine Ethereum at this point. [01:58] It's certainly possible, but I want to make sure I I I set the table. I I'm personally diversified, David. I hold ETH, Solana, and XRP. I don't believe there's going to be one to rule them all. Now, some may outperform each other, right? It just depends on the narratives, cycles, tokenomics, and all these things. But what happened with Ripple and XRP, they were under the SEC lawsuit for years, and that held back the XRP ledger. Because if I'm, for example, BlackRock, why the hell would I go build on a chain that's caught up in litigation, right? The the lawyers would be like, hell no, you crazy, right? Don't do that. But now that that's been over, and Ripple won the lion share of that uh lawsuit, and there's more clarity under President Trump's administration, uh we're seeing a lot of building on the XRP ledger. So it it's now in the mix with Solana and Ethereum. And and I'm not sure if you saw the news from just Friday, Franklin Templeton, they put 150 million dollars worth of their tokenized treasury on the XRP ledger. And I always tell people to go to RWA.xyz. They have a leaderboard showing which blockchains are getting the most tokenized assets on them. So you can track, you know, the volume and and who's building, because that could be a great way to go through your investment thesis, which blockchains am I betting on, which ones are getting the most adoption. Now, that's not the only factor, you got to look at other things like ETH has been getting a lot of adoption, but it's been struggling price-wise, right? Um, I'm still bullish on it long-term, David, I'm still, you know, marking 10K ETH at some point. But I I'm a believer long-term, right? I have the macro view. So regardless of what happens in the next year, I'm not too concerned. And yes, do I swing trade certain coins? Yes, because I understand the charts, but long-term, I'm holding my bags, I'm waiting for, you know, Clarity Act pass, all the institutions, all these folks around the world building on these technologies. [03:48] I think I'm just disappointed with it's not so much price, right? We talked about, I've talked about $10,000 Ethereum. I think we've all talked about the possibility of a 10, which it should have, I believe it should have already hit $10,000. You know, I think the biggest thing was going from proof of work to proof of stake. I think they rushed that with obviously with all the rules and regulations, Gary at the helm. I think that's why they went to POS. Again, that's my it's my personal opinion on that. Maybe they were going to there, you know, they were going to do it anyway. But I think if they would have been at a POW, stayed at POW, we would have seen $10,000 Ethereum, no doubt about it. Um, but it's just frustrating to see that even though Ethereum still has the biggest TVL, like out of all the chains. So, you know, that's not to be overlooked. I just feel like they're allowing others to outshine them. That's it. Like, you know, you have Solana that took away the culture trading crowd. And people are now moving from Ethereum onto Solana to go ahead and build. I see it daily. It's just like, that's just probably the frustrating part. We'll see what happens with the new the new foundation that they have. But really disappointing because they had so many years, um, to go ahead and do such amazing things and and and they didn't take advantage of it. [05:12] In addition, the thing that really helped ETH in their early days was the L2s, right? All these layer 2s, all these applications being built. But that is now hurting it because you have the liquidity getting uh segmented, right? Instead of all being piled into ETH layer one, so to speak. Uh it's going to all these different L2s, and some of these L2s have failed, right? Um, they haven't done much. Some have done well, don't get me wrong. But then you have like Solana where all the liquidity and the activity is concentrated to the one chain. The XRP ledger, all concentrated to one chain. So this is where they have to figure it out. I think Vitalik, if I'm not mistaken, came out a couple months ago saying, yeah, they're going to have to take a different step with regards to these L2s. [05:55] Yeah, I mean, after, you know, these L2s are taking 90% to 95% of the revenue, and they're kicking back 5 to 10% to the Ethereum Foundation. And the they can't run like this. They had to, you know, they're laying off people, some some of the most brilliant people when it comes to code that being laid off, you know, from Ethereum. It it just, you know, it just it's frustrating because, uh, Ethereum is right there, man. Like, and you could you could if he just also the look, I don't know how you feel about memes. I I real memes. I'm not talking about what's happening right now. There's so many things that are coming off launch pads, which are just absolute, excuse my language, but it's dog shit. It's it's a casino and crypto is not a casino. And that that's one thing that gets me frustrated. I didn't come here uh to participate in a casino. I came here. Bitcoin, read the white paper. My eyes opened up, holy shit, our monetary system is screwed. Like, I didn't realize it, right? We weren't taught. The Department of Education didn't teach us about finance. Like our parents could be good with finance, but they really didn't go deep with the monetary system, right? Like I'm pretty sure we can agree on that. But to and to see what's happening now, this ain't crypto. Like we we were a part of crypto throughout multiple cycles where for forget about Bitcoin here, but the tech here was being built to go ahead and solve things. And I know it was first about things being faster, faster, TPA, whatever, all this stuff. Now it's about holding things for three seconds and moving on to the next one with some weird ass names. And I think that is kind of fucking up the culture. It really is. Also, keeping people away who want to come into crypto. It's keeping them away because they're hearing the horror stories. What what's your take on that? [07:41] I 100% agree with you. And I'm not a fan of meme coins, but I I look, I'm a believer in freedom in the United States. And if you want to go to Vegas and gamble, it's your right, as long as you have the disclosure knowing the risk, right? Now, and I don't endorse any meme coins, and I I'm not in agreement of, okay, we'll send the police to go stop this guy to do this, unless he's rug pulling people on purpose, right? So, I want to make sure I'm balanced there. But to your point, man, this cannot be the face of crypto. We need to move past these things. And the hope I have is that the SEC, you know, with regulation crypto, which is going to regulate ICOs. David, you and I seen ICOs in 2017. Well, now, David, it's going to be regulated. An entrepreneur, an innovator, a company, you want to do a token launch, they can do it now because the SEC says, here are the guard rails. Uh here's the maximum amount of money you can raise. Here's the reporting you have to do to us. So, I think that's going to kick off uh an innovation boom, and it will take us away from these memes because real entrepreneurs, builders can say, you know what, I have this really cool idea that I want to build with blockchain, and I can do it now. I can raise the money, it's regulated, and even let's say the likes of a Nike or an Amazon or whatever company can now say, I can launch a token, I don't have to worry about a lawsuit or a Wells notice. It's not no longer the Gary Gensler days. Now, the regulation crypto, they just closed the comment period for it. So, we still need to give some time for this stuff to become ironclad. But I think that will be our saving uh grace or moment. And in addition, the TradFi institutions building with this technology and moving to public chains, like we talked about with JP Morgan, is going to help steer us away from these things. [09:24] Do you think some of the we're talking about memes here. Do you think some of the the people that participate in memes will finally get burnt out from all the losses and start looking because you mentioned tokenization, which I've talked about, I talked about it at a conference, it was blockchain futurist, and people laughed at me. I was on a panel with Charlie Shrem, and I said tokenization will be something that down the line, uh we will be talking about religiously, and people are like, what are you talking about, tokenization? Few people got it, uh some people just thought it was a complete joke. It is what it is. Um, but with tokenization, you have tokenized stocks. At some point, people are going to say, I'd rather invest my money into SpaceX or Tesla than some random thing called doggy doggy, you know, inu inu. Like, does that happen? At some point, people get burnt out, especially people who have been here for a while and say, you know what, let me go into the RWA area and and and get myself something that's real, led by somebody like Elon. [10:26] Oh, absolutely. I I believe education, the uh new innovators coming in with the SEC's new ICO rules. So if I know, it could it will go back to, for example, that opportunity window that we saw in 2017 with the ICOs, where you could say, oh, wow, this is an interesting project. I can go buy the token. Instead of, wow, this is new meme, let me go buy that meme coin. It it will take us back to that in a more regulated way. And again, there there are bad actors in every industry, every market, right? But with the regulations in place, I think you're going to see people start to shift away to your point, to quality projects that are doing ICO. Doesn't mean they're going to be successful. This is the nature of business, but quality, right? A flight to quality, if you want to call that. And to your point, if I can take my tokenized SpaceX stock, and I could put it into DeFi because it's tokenized, I have more benefits, more incentives versus I'm just holding a meme coin, right? Because the goal, a lot what a lot of these institutions are building, they're they want to put those assets to work. And you can only do it in a tokenized format. You can't use the traditional model, obviously. [11:33] We have, forget about the memes now, we have a bunch of old coins out here that we've seen since 2017. There's a lot of them, and it was all based on faster. Who's faster? And then it became, well, I don't know, it became something else. I don't I can't even identify it, but it became something else besides the faster component. I've said this, I think in the next few months, we will be down to 10 to 30 old coins that people really look into, like a Chainlink. I I can I can start naming them all out, but the rest of the the rest of them will die out. What do you what do you what are your thoughts on that? Do you think 90% of these old coins will go ahead and cease to exist, and then you'll have the particular ones that are picked by at the end of the day, the institution and the big boys to go ahead and participate on. [12:24] I've been talking about that. I I don't know if it's it'll be in that quick of a window, but I do think over time, uh I've often said there'll be maybe 20 to 30 or 40-ish, you know, we'll see what the actual number is, blockchains are going to be used globally in different industries and different markets, and the other stuff is just going to be gone because they won't have the liquidity, they won't have the participants, right? Uh I I often tell people how blockchain should be valued is Metcalfe's law, the amount of participants, applications, users, builders on them. And eventually, I think what I mentioned earlier, the flight to quality. If you have Wall Street and these big institutions choosing certain blockchains, they're they're going to be able to uh outlive the others. So I think a lot of the crap is going to be cleaned up. And what we could see, what could help ETH, you know, what we were talking about before, and some of these other blockchains is if this again, going back to the SEC's ICO regulation, called regulation crypto, if once that's passed and you see these people select the quality blockchains like Solana and ETH and XRP ledger, that's going to help them grow and and weed out the, you know, the stuff that's not great. [13:33] I'm going to go fast around with you here. Uh you've covered Bitcoin core tightening security because AI makes finding bugs easier. Is AI now the biggest security risk in crypto? [13:44] No. David, if AI and quantum is a risk to cryptography, I'm more scared about the air traffic control system, the current banking system, the traffic light system, the electric grid. Are you kidding me? Cryptography is one of the highest layers of security and and I think people are using it as a narrative to short, right? To put fear out there, which look, it's the market is what it is, right? But Chamath, for example, coming out and say AI will destroy Bitcoin. Really? So you're not worried about everything else in society. Come on, man. [14:19] I'm kind of down on Chamath because he for years it's been Bitcoin's going here, here, here, and then all of a sudden he comes out saying it's going to zero. [14:27] He's talking his book, his position. And unfortunately, that look, I again, I'm a believer in the free market, so if it's not against the law, I can't just go out and say, he must stop this. But I I tweeted about it. I called him out. I was like, look, this guy's clearly shorting. I mean, to have this type of position when he's been super bullish all these years. But watch in six months time. Watch what he's going to do. He's going to flip back after he's taking position again. It's the same old thing. [14:53] Wow, it's wild when you have money. Um, the XRP ledger fixed shipped in November and Ethereum delayed their testing. Are core developers getting more careful or just slower? [15:07] Well, like the good thing about AI, it helped identified some bugs, right? Um, and I'll give an example. This one could have been detrimental to the XRP ledger. They use AI to identify a bug, um, where it could have minted more XRP. [15:23] That would have been awesome. [15:24] To say the least, right? Uh, that would have been crazy, man. But thankfully, the person, the developer who found it, he did it through the bounty, and he got paid the bounty. Uh, but thankfully, he's a good person and he didn't use it or sell it on the black market to exploit that blockchain because that would have been horrible. But the same thing, the Bitcoin folks are finding bugs on the Bitcoin blockchain with AI. This is all good because we're going to have to do the same thing for quantum. We're going to have to take the quantum computing tech and put it into the validators and the miner and the mining equipment, right? So, as long as we do it early enough and ramp up ahead of the major shift that's going to happen technologically, we'll be fine. Um, and it's really I mean, I know people are going to look at it like, oh my God, AI is going to take these things out. But if they're identifying the bugs and fixing them, that's good. [16:14] I I agree with you. I mean, people who are taking AI seriously are using AI to go ahead and figure out if there's anything wrong with their protocols. And you need to be, if you're in something, say XRP, you need to be very vocal. You need to be asking the developers, are you guys looking into any security risks? If you're not asking these questions, then you're doing it all wrong. I'm asking these questions. I don't care who comes on here. I'm at I've literally asked Filecoin, which was a great conversation. I had Murda on here uh and she phenomenal energy and everything. They've they're actually the solution to go ahead for in terms of decentralized storage for AI and and and hopefully it gets incorporated. I want to ask you something else here that I've had lined up. Um, Swell starts tomorrow. What does Ripple need to announce to XRP holders to care? [17:13] I think they have to, and they've actually, there was a news that broke this morning. I don't remember exactly what it is, but they have to show there's adoption of the XRP ledger, not just their stablecoin, RUSD, not just they formed this business partnership and offering liquidity to banks. What does it mean for the XRP ledger? And that's what's going to get people excited and bullish because at the end of the day, it goes back to what I said earlier, Metcalfe's law. How many participants, how many builders, how many how much value is on that blockchain, right? How many transactions, and continued scaling, preparing for AI, preparing for quantum. So all these things need to be clear to the investors and people who are, you know, looking to invest in XRP. Um, I think that's what's important because there's no longer the excuse of, hey, we have a lawsuit with the SEC. And and rightfully so, that was that held everything back. But now, you're free and clear, who's building? Who's who's participating on the blockchain? [18:10] I I just thought of something, and and I need to ask you this because you have a good audience in XRP that tune into your show or to your shows. Do you believe, because I believe this. Do you believe that some of these XRP influencers actually hurt XRP? And when I mean by that is this, I'll scroll TikTok, because I'm on TikTok. I'll scroll it. I'm on Instagram. I'll scroll it. You know, I look on that's not, you know, X, a lot of people respectfully, I love X. I'm still going to be on X. But I feel like a lot of people have left Twitter to go on to platforms that give them a visual feel of things. Not just, you know, a lot of people don't read anymore. It's just like, let me let me who's visual? Who's who's producing shows out here so I can go. And I'm watching as some of these XRP they know that the XRP army is strong. Like you say XRP, you're going to get 500 likes automatically, and you can have three followers, okay? Say anything about XRP, you get 500 likes. I feel like there are some that I've watched, and most like 80% of them, I can say that kind of number. It's high. That will say XRP is hitting $10,000. But in the next three months, Swell happens, it's going to $25,000. Do you think these type of videos are hurting XRP's adoption? [19:32] Oh yeah, for sure. I mean, it's ridiculous, it's outlandish. I I remember posting about it, I think it was in the 2020, 21 bull market or last bull market. I can't remember. But I said, if you're thinking XRP is going to $10,000, you're smoking crack. [19:47] Let's go. [19:50] Let's go. I I try to debunk some of these things because I see the comments, I'm like, dude, think about the market capitalization. These people are just hyping you up. Have something more realistic. And, you know, you get these people who say XRP is going to be used by every central bank. They're not going to use every central bank is going to use the XRP. It's a multi-chain world. We're clearly seeing that. They're going to use ETH, Solana, XRP, and different industries are going to use these blockchains. So, there's a lot of hype and a lot of how should I put it, man? [20:21] Low IQ things that are being said. [20:23] Say it. This show is unfiltered. You can say whatever you'd like, man. [20:27] So, I I try my best to like, guys, have realistic expectations, okay? Um, and and diversify. I I've been saying for years, diversify. I hold Bitcoin. I Bitcoin's actually my largest holding. And some of it is for long-term, like, unless I need the money, I need to fix something in my house or something, I'll liquidate, but it's sitting there long-term. It's going to go towards my retirement. So, I try to tell people, have a basket, you don't have to spread yourself too thin. Pick your top five, right? That you're going to hold long-term. And that could be Bitcoin, Ethereum, Solana, XRP, Cardano, whatever. But be realistic. Um, and and avoid the conspiracy theories and I don't know. There's all kinds of stuff these people come up with. I don't know where they get this information. [21:11] I'm telling you, Tony, I'm watching, I I I was I'm watching TikTok, okay? I'm doom scrolling, which is bad, but there's sometimes once per week, I'll doom scroll, and I'm scrolling down, and I'm seeing $10,000 Bitcoin. I mean, uh $10,000 XRP. $40 to $50,000 XRP. There was one dude nine days before the new year last year, said, we are about to hit $25,000 XRP. I'm like, this is the reason why nobody takes it seriously. Like, yes, in that situation, you're talking about everybody selling and converting to XRP, plus people selling off precious metals and a bunch of money just pouring it. Now, XRP is going to be the only cryptocurrency in the goddamn world. Everybody, you're going to the store, you're filling up gas in that tank, you are using XRP to pay for it. I'm like, this is nuts. Stop it. I'm like, listen, if it goes to $12 all-time high, that that's, you know, and people some people will tell me I'm a little bit crazy on that, but I'm like, that's doable. $12 XRP doable. Like, I once came out on X, and I almost got destroyed by every Bitcoin maxi. I said XRP will hit $10,000. Like, literally $10,000. Every single person came after me. Every notable, every David Schwartz came into my DMs, said, man, how you holding up? I said, I'm good. I was just trolling. But still, by saying that, the reaction is there, and I get it. But you should real numbers, five, six, eight, nine. Those things can definitely 100% hit. $10,000. I remember having a conversation with David Schwartz. XRP can transfer with one single token over $10,000 worth of money. That's what he said, and a lot of people are using it as it's going to hit $10,000. That was really the point. Um, Tony, I'm going to ask you for predictions, and you can plead the fifth and say, I ain't saying nothing, okay? Where do you do you see Bitcoin hitting 100K by the end of this year? And also, what do you have for Ethereum and Solana? [23:40] So, I'm personally of the mindset, the higher probability is that it hits around 90 to 92K, then I see a we see a correction. Things could get overheated. Look, $8,000 away from 100, right? So, it's possible it could get to 100. But I'm going to lean more conservative and go 90 to 92. Um, obviously, right now, Bitcoin looking a bit bearish, but we're still holding key support levels. I'm the next support level I'm looking at is, can it hold 75 to 77K, and we bounce from there? That would be ideal, not guaranteed. Um, as far as ETH, jeez, I I I don't know. ETH you I have the same sentiment as you. I don't know what whatever ETH gives me, I'll I'll be happy. I I don't even want to make a prediction. And I hold it, right? So, Solana, I mean, you same thing, you can hopefully get back gets back above 100, if it's not already above 100. Yeah. And climbs a bit higher. But I I think you will see some alts start to move if Bitcoin is able to break out to, you know, 92K or so, the rotation of liquidity. And, um, but I'm more so looking forward to next year, David, because I I think we have already turned a corner from a bear market into a bull market because not because of my feelings or emotions, 200-day moving average, 200-week moving average, uh 50-week moving average, all reclaimed. All the crosses have been reclaimed. So it's the technicals. And I believe we're in the start of the next, you know, two, three year up run, and I I'm excited for 2027. I think we could break all-time highs, um, later in 2027. And, uh, the party's going to get started, man. So I'm excited, and hopefully we can get the Clarity Act passed. That would really unlock a lot of liquidity to come in. [25:19] I just had Natalie on, uh, you know, potentially, she's, you know, she was saying that not her, but she was just within her conversations with her guests and stuff, 2030, uh, if not now, 2030 is the next time it looks like the Clarity Act could go and get passed, which is crazy that it takes our I mean, we could not even vote to have it passed into a chamber for discussion, yet the people that want to go ahead and say that they want to discuss it, don't want to pass it for discussion. We live in a crazy time, and I I got to say this, and you don't have to agree with this, but from my standpoint, you know, Congress needs to stop start working for the people and not vice versa. This this is absolutely crazy where we have a bunch of people that do not know crypto or tech in office. And that's the truth. They do not know it, okay? They've chat GPT

[Part 5 of 6] [David] [00:00] But they do not know anything like we know and that's why we're the new media. Like we understand crypto, we've lived it, we've lost, we've won, we've done everything here and we can explain it to the general public. That's why I keep on saying independent media here for crypto is huge because we provide way more value than somebody reading a script on something. But anyway, and, you know, and Jenny's still going to listen to Jim Cramer when he says he's bullish on Bitcoin over us, right? It doesn't really matter. Uh, on Solana, uh, I put my bet on Solana. This this this coming market, I agree with you on 2027, but my bet is on Solana. I think Solana has uh understood the mission and so many people are going to build on there that I can see it going to $800 per coin. That that is just my, you know, [Guest: Tony] [00:51] I would love that. [David] [00:53] It's just and I'm not and that's my conservative number. Because I believe that with crypto we hit a 10, I believe this time around it'll be bigger than 2021. I think we hit $10 trillion in total market cap and that's because you have Robin Hood and everybody finally coming on, putting things on chain. And then the sleeper is also AI. I feel like you have crypto and you have AI and AI from a standpoint of people using AI to build AI protocols, which again, it you toss it all in and you're $10 trillion plus in total market cap and I think we're all going to have a really good, good, good time as long as we're in the right, uh, obviously in the right protocols. [Guest: Tony] [01:31] Oh yeah. 100% agree with you. Plus, I'm going to have people remember this, regulation crypto by the SEC, that is going to unlock the next ICO boom and it's going to be regulated. So, I think in addition to what you said, David, that's also going to bring a lot of liquidity because you're going to have quality projects being built. [David] [01:50] You've sat down with all of them, man. Uh, you've done a great job with your show. Again, you were the first show that I said yes to. Uh, [Guest: Tony] [01:57] Remember that. [David] [01:59] First show, nervous as shit. Uh, I appreciate the but I do appreciate you being here and providing value, uh, to the entire ecosystem. Not listen, there's ABC, there's NBC, there's all sorts of channels and everybody has their favorites. As long as we have enough people out here providing value, that's all that uh matters. We love this space, we understand this space. We're not here to gamble, we're here to go ahead and do something that's revolutionary. So I appreciate you, Tony. [Guest: Tony] [02:27] Absolutely. Appreciate you too, man. Thank you so much for having me. [David] [02:30] Thank you. Hopefully have you on next time too. [Guest: Tony] [02:33] For sure. Thanks, David. [David] [02:35] That's Tony. That's Thinking Crypto, man. Thinking Crypto, tune into the show. Okay, tune in. Really good cat. I'm telling you, he's the first show that I said yes to. I had I had the New York Post, I had a bunch of people contact me. I was like, no, and then Tony contacted and at that time I was actually running for office and I said I'm going to go on to his show. So, shout out to Tony. [Sound of applause] [02:57] [Applause] [David] [03:01] Good guy, man. Good guy interviews really good people, notable people within this space, even outside of this space. They have good conversations. Guys, you you you should always, always, always, like Coin Stories also. Like you have Natalie does a phenomenal show. She brings on notable guests. It's very I I think Natalie's show is very geared towards uh towards Bitcoin, but that's a good thing. If you want to learn about Bitcoin, you want to learn about hard money and sound money, like you you should tune into Natalie's show. Tony talks about crypto in general. You should tune into the show and see all the people that are having discussions about said topic. I mean, it it is really it's nice to see some of these people here. I got to say, Tony's been around for a really long time. It's nice to see him still around. Like I've seen so many people come and go. They get their their belief in crypto or their belief in Bitcoin went to zero and they left. They pivoted. They they they pivoted towards another market. To see people here continue to talk and bring on people, not just within crypto, but outside of crypto to have the conversation, that is awesome to fucking see. It really is. It's a this is a tough job. This is absolutely a tough job. 100%. A tough job. You are speaking to people, you're trying to convey a message that's understandable to the normie. Because people look, Bitcoin, schmitcoin, who cares? Like that it's illegal, it's criminal. It's not. It's not. You know, Natalie said something about the word crypto. I've switched it to digital assets. I'll say crypto once in a while, but it's more so digital assets now. Because digital assets sounds so much better, right? It's digital assets sounds better than crypto. And that's the sad part. It's just because of the narratives that were pushed out there by the institutions who own mainstream media that were pushing out the message that crypto is bad, crypto is illegal. You have, look, the anti-crypto army, Senator Warren, who is out there continuously talking about how bad crypto is. How it's illegal. A bunch of them pushing that it's used for illegal activities when it's not. The US dollar. What are we talking about? The US dollar. Like, if you're going to use crypto to do some crazy ass bullshit, you're crazy. Like you are absolutely a crackhead. If you're going to use crypto to do anything stupid, sooner or later, your ass going to get caught. Chainalysis, CoinAnalyst, all these all these companies that can dig right through the blockchain. The US dollar. 99% of all crimes go unsolved with the US dollar. What are we talking about? Sounds like Seinfeld just now. Anyway, welcome to the breakdown. [Sound of applause] [06:37] [Applause] [David] [06:38] It's 1:47 PM on the East Coast. [Sound of applause] [06:41] [Applause] [David] [06:43] The breakdown is sponsored by Midnight. Midnight is the title sponsor of this show. Also Polymarket. Polymarket is the official prediction market sponsor of the breakdown. Also Cake Wallet. Cake Wallet, one of the most secure wallets that we have in the space. If you want to hold your Bitcoin, Litecoin, Zcash, Monero on a secure wallet, go to cakewallet.com, the App Store, Google Play to go ahead and download it today. That rhymed, that was a bar. [Sound of applause] [07:08] [Applause] [David] [07:09] Fomo.family, you can go ahead and follow me, follow others on there. See what they're doing and what they're trading. Okay? You can understand what is happening at this very moment. You can read some of the thesis. Fomo continues to come out with new features every single day. I liked what C said, the founder, co-founder of Fomo said, when somebody was putting out rumors or what not, speculating that Fomo might go ahead and launch a launchpad, C came out and said, we need less tokens. I appreciated that. You know what? That kind of stuff will win over the crowd because we don't need more tokens. I'm not saying that you can't create tokens. You could do whatever you want, it's a free market, but we need less launchpads. We need more belief in communities and be and to rally behind builders than to have these scratch off tickets that do not represent crypto. These things do not represent crypto, okay? I'm sorry. I'm not sorry, actually, because these things do not represent crypto. None of these things that are out here represent what crypto is all about. I thought about this over the weekend, especially when I was working out. And I've been talking about this, you guys have heard me talked about I talked about this a lot now. How I'm disappointed in the meme economy. I really am. I'm disappointed with the current state. I really am. That's not to say that the ones that have been building, that's not to say that the real memes won't go ahead and and see themselves go to Valhalla or do well. Like that that's it's not the point of this. I'm disappointed because this is not what crypto has it was never this was never supposed to be crypto. This is now gambling. This is now outright gambling, OTB, scratch off tickets, casino type shit, which is absolutely so disrespectful to this entire space. And it's made me pivot in a big way. It's made me pivot big time. Like I don't it's made me almost I'm at this point where I don't even want to talk about memes because I have this distaste. I have this real distaste for it. And I'm frustrated when I see platforms that are pushing this bullshit of you don't hold, fuck community, fuck the builders, just go ahead and and rotate. Be rotational. It's pissing me the fuck off. And what's pissing me more off is that we don't have the OGs stepping up and saying, yo, this ain't right. We don't have that. We we don't have that. That's pissing me off more. It's absolutely pissing me off. It's absolutely driving me insane. At some point, at some point, we got to save crypto, man. We really do. Otherwise, like I'm thinking like I was thinking to myself, I'm pivoting to tokenized stocks. RWAs, like there is no reason for me to be besides a few of these memes which I think are cool culturally, like there's there's no reason for me to be in them. And I'm not chasing these launchpads. I don't really care. Any look, in life, when you chase shit, you lose. Bottom line, when you chase things, you lose. Why would I go into some random play when I can go into SpaceX? I would love somebody to go ahead and tell me that I'm wrong when I say, why would I go into XYZ when SpaceX led by Elon Musk is right there entry level. I can get into it right now and in the future is at a $100 trillion market cap. Why would I go into any of this bullshit? Please, by all means, should I go ahead and tell you should I put on the should I let you guys call in? Do you guys want to call in? Who wants to call in and have this discussion with me? I'll be more than happy to go ahead and debate this. Why would I? I got people that I know that are chasing. You know what? I'd rather continue to write my book, the second and third editions, the million dollar AI playbook, and the other two books that I'm working on, which won't be out by the maybe 2027, maybe 2028. I don't know. But continue to write on that and and learn more and and get even better at AI. Like I'd rather just get continue to get better at AI, be an elite prompter, help businesses, while also combining crypto into them. What am I why why am I going to chase dog shit? The only people that are chasing these things off a launchpad are people that have $30 to their name. This is literally, you know what it is? It is literally what you're seeing is you're seeing lottery. That's all you're seeing. This is absolute scratch off tickets. This is you betting on horses. And you have a better chance of winning at a horse race or at the OTB, whatever, than you do with this shit. This shit is all This is not trading. Somebody told me, well, step up your game, skill issue. This is not a skill issue. This ain't a trading issue. This is who you know issue. The only people that are winning are the people that are in in tier one chats. That's it. You think you're winning? You won on one play, but lost on 43 other plays. You think you won? You forgot about the other things you've lost on. And that that win that you got, you didn't make up on the 43 losses. So like what you are, all you are is exit liquidity. All that's all you are right now. Now, does this all change when the liquidity starts pouring in? Do people stop gambling and start looking at communities and builders, start going into altcoins and even memes, real memes? Does that all change? Possibly, but I I I lost belief. All right? I'm telling you right now and you can clip this up. I don't really care. I've lost belief. I've lost belief. I'll tell you why. Even while I've been trying to figure out how I can be a a positive here, which I've always been a positive in crypto, but how I can bring something to the table and even be more positive and and and and get everybody to rally together. No, you can I I see it. People people don't want to build or be around anything that's being built out. People want money. They want absolute money. Bottom line, they want money. And it's and it's gotten so bad, they are willing to go ahead and destroy anybody to get that money. They're willing to set up anybody, smile and set up anybody to get that money. It's sad. This is not crypto. It was this is not I am sorry. This is not crypto. This is not the crypto that I know. Holy shit, I used to get on people for the wag me shit, for the diamond hands. I was even a diamond hander, hey, diamond hands. But at some point I was like, yo, this diamond hand shit is bullshit. I used to like say like the wag me, everybody's not going to make it. But you know what? I would rather go back to that, the delusional belief that there is a chance that you might win. That is there's a chance that your you taking a bet on yourself and and being delusional and going into set, you know, set asset that you might win. I I want I'd rather replay 2021. What a great time. And to think we sat around and we bitched about 2021. Holy shit, 2021 was fantastic compared to this shit. Compared to this, where are we at? Don't get mad when people are taking their money, taking even losses, taking losses on some of these things and going into Bitcoin. So it's like, fuck it. I'd rather be in an asset that appreciates. Why would I not want to be in an asset that appreciates? Why would I want to be on hopes and dreams? Dear God, please, God, I went to church. I went to church, God, please. Why? Y'all might think this is ranting, he's ranting about like, no, this is real talk. This is absolute real talk. It's frustrating. And I see it too, it's a virus that's spreading. It's like, it's on TikTok, it's on Instagram. People showing off, you know, P&Ls. That like you can't pull out. Okay, you got a $3 million P&L, you can't pull it out. This 300K in liquidity. I've already spoke about this. So what? Should I show a P&L of $5 million that I can't pull out? Is that going to be is that going to make me the great one? Like I'm I'm so I'm a little bit confused. That just shows me that people don't know how this ecosystem works. That's a big problem. I talked about this on Friday. My Friday spaces on Twitter, which are only supposed to be for 30 minutes, the last one went for 6, 8 hours. I lost my goddamn voice. You got people out here, it's like, oh, $5 million P&L. Great. Can you pull it out? Kimchi, respectfully, showed $40 million P&L on pump.fun. Okay, can you pull it out? No, you can't. You'll probably get if you have 40 million with a 75% supply control, could you pull out, I don't know. Could you pull out 500 grand? Yeah. That's it. But these normies don't know any better. And somebody did say like that P&L is going to hit hard and it's going to make people look like that they're ultimate traders when they're not. And I say that respectfully. I'm not even taking shots at Kimchi. It's like it's a lot of people. I can't hate I I but I can't hate the game because hey, man, like they're going to use that to go ahead and elevate their brands. They're going to get brand deals and all that stuff. Good hey, I can't hate on that. They're adjusting and reinventing themselves to the current environment. But that's all it is. The real ones understand it. But there are more people that have $30 in their pocket that are just looking for a win. So then when they see I've seen it already. Hey, man, my name is Zach and I'm I'm going to show you how I'm going to make $1,000 today. And there's this whole video. I'm following this trader. This trader has a $1 million P&L. I'm going to follow him and do everything he says. I see it. I see it's on Instagram, it's on TikTok. They show you the P&L. And people believe it. And then you have a bunch of people that are chasing, not knowing that they're they're they're topping. They are topping. They are absolutely topping. I don't even know why why do I give a fuck? Why why do I give a fuck? I shouldn't I don't I don't give a fuck. I I don't even care. I don't even fucking care. Y'all do what you want to do. Y'all do what you want to do. I used to love those glasses. I used to love those Ray-Bans, man. I've outgrown those Ray-Bans. Welcome to the breakdown. [Sound of applause] [21:06] [Applause] [David] [21:07] You're like, man, what's happening to David? He used to be big on on memes and all. Again, again, we're restricted once again on on TikTok for some reason. You know what I'm going to do? I'm going to test something. I'm going to have to change up my intro. You know what I'm going to do? I'm going to change up my intro and and I'm going to see if there's any change if I were to change the intro. Because it does have ACDC playing. So maybe just maybe, maybe just maybe, they're censoring me because I have ACDC playing within the intro. Anyway, it is Monday. We had Natalie Brunell on from Coin Stories. Uh, we also had we also had, um, Tony Edward on the show, Thinking Crypto. We talked about Bitcoin, we talked about crypto, we talked about all types of stuff. Um, I'll be back tomorrow. We have we have a lineup of guests this month, next month, all the way into right now, we have a lineup all the way into quarter one, 2027. So that's going to be really cool to talk to a lot of really cool people, not just from crypto, but also in AI and politics and sports. So we have we have a lot of people that are going to be coming on to the breakdown to have some really cool discussions and I can't wait. I really can't wait to go ahead and and just vibe out with the crowd. Um, I was talking to somebody yesterday and I got into I don't I wouldn't say it was a heated debate. I would say that me and my friend were talking about all the social media platforms right now. And he said, you know what? Every social media platform right now is what did he say to me? He said, what did he say? He said, everywhere that you look right now, the engagement is down. Everywhere you look. Because I was talking about, hey, like, you know, on on Twitter, I don't know what's happening. That's why I've pivoted to Instagram and threads. I got to tell you, I've been on threads for 24 hours and I'm almost at 1 million impressions. 1 million impressions on threads. And I'm not really even I haven't really even gotten started on crypto. I'm just talking about politics, the election, midterms. And I got a 95% of those people are liberal lefties who are absolutely attacking me every second. Instagram, more more engagement. X. What's happening? I really I would love to understand what is happening on X. And by the way, I make clips all the time and videos. I make videos all the time and I post them out there. Why wasn't I put into the video program? That's why I pivoted. YouTube, TikTok, Instagram, now threads. And I hope threads comes out with like live streaming. Threads needs to come out with live streaming. That's what threads needs to do. Threads needs to come out with live streaming. I wonder if Zuckerberg's working on that. If he's going to want to put live streaming into play on threads. All he has to do is take his Facebook, the Facebook live streaming that they have on there and just integrate it into threads. Zuckerberg says that he thinks that threads is going to overtake X. Now again, I love Twitter, man. I really do. But you have to expand your brand, man. I keep on saying this. You cannot sit on one you cannot sit in one place. You cannot sit in one place. Anyway, let's go ahead and break some stuff down here. Actually, I've already broken some a lot of stuff down here. Let me just give you the quote of the day. Let's go with the quote of the day. We've already done the show. We'll be back tomorrow.

[Part 6 of 6] [00:01] Quote of the day is this, your biggest threat isn't your competition. It's the mediocre version of you that you've accepted as good enough. Okay, I'm going to read that one more time. [00:11] Your biggest threat isn't your competition, it's the mediocre version of you that you've accepted as good enough. All right? [00:28] What is this? They're cooking you in New York right now. Can't even get through one sentence without freezing. So what? I'm [00:37] Hold on. I'm freezing up on X or is it your connection? I I'll look back at it. I see it's fine on TikTok. Shout out to the people on TikTok. [00:48] Shout out to Mother of Dragons. Shout out to you. Shout out to everybody here who tuned in on X, formerly known as Twitter. Shout out to YouTube. Shout out to LinkedIn. LinkedIn. Also LinkedIn. Surprisingly, a lot of engagement on LinkedIn. So hold on. [01:06] Hold on. The place where I built my brand, the the place where I was discovered on Twitter, where I've given everything, blood, sweat and tears to build and and give value. [01:24] I'm so disappointed. [01:30] So disappointed, man. [01:36] I feel like Twitter's become I don't know who's running Twitter, but I but I think whoever it is. And by the way, you guys don't, you know, you know what sucks on the streams? On the on the restream. I'm on restream. You guys can't see each other talk on stream. See, like if I were to do this, [01:59] Man, you guys can't see the replays though. See, like a lot of you guys are talking from LinkedIn and X and Kick. So you and YouTube, you don't see each other. The only one that I wish they had on here was TikTok. They haven't added TikTok on here yet. But like I wish all you guys could see each other and Rumble. Like you guys don't see each other. It sucks. I wish y'all can have a conversation. [02:23] But whatever's happening on Twitter, it it it's crazy. It's it's invite only. It's how I'll put it. It's who knows who. And I'm not playing that game. You know what? I've given it every I've given it all to to Twitter. [02:42] Now it's time to expand. And I should have done this a long time ago. You know what? Somebody told me a long time ago, DG, you got to you got to expand. Go to Instagram, go to TikTok, go to And I refused, man. I refused. I was like, no, Twitter, Twitter, Twitter, Twitter, all about Twitter. And I didn't expand. But now I'm expanding and I said in the next 90 days, I will absolutely have one of the most engaging shows that you will ever see on any goddamn platform. [03:19] What it what it um there was a besides the quote that I gave you guys today, there was something, you know what? I fucked with this. I felt like this. You know what? Let me let me go ahead and uh play this. I got to play this. You know why? I felt exactly like this. John Harball, the Giants coach talked about this yesterday and I felt it. Like I felt that I felt the conversation. [03:49] Let me go ahead and um let me play this. [03:55] Where is this? [04:03] I felt this big time. [04:10] Let me find this. [04:23] Why can't I find this? [04:51] Damn. Where is this shit, man? [05:00] What if I go to Hold on. Ah, I hate when this happens. I hate when this happens. [05:06] Stay with me, man. Anybody who's listening in on Apple Podcast and Spotify, I do apologize. I am looking for something right now. Because I I it's something that I felt. It was like it was something real and and it goes out to all the content creators and media personalities that are that are trying to do their thing, man. Uh, he said something I don't know, it hit me. It hit me. [05:35] Where is it? We're talking about JJ McCarthy. [05:46] Man, where the I where the hell is this, man? [05:57] This is crazy work, man. I'm doing this live right now. [06:11] Okay, here it is. Hold on. [06:23] It's kind of I kind of feel I I kind of there's something about JJ's journey that I fuck with. By the way, shout out to the New York Giants. Shout out to the New York Giants. They won yesterday against the Houston Texans. 27 to 21. Great outing, great start by JJ McCarthy. What an he has an amazing arm. He's mobile, he moves. He kind of reminds me of Rogers. [06:57] And I know people are going to be like, what are you talking about, Dave? JJ reminds me of Rogers. Like 100% Aaron Rodgers, he has that in him. [07:11] The velocity, the way he throws that ball, like it just reminded me of Rogers. [07:19] Now, I know it's one game or it's been five quarters, I should say. I'm not getting ahead of myself here. But if JJ plays well, and I like Jackson Dart. And I think they'll both be two franchise quarterbacks. But if JJ plays well, I can see them trading Jackson. Because you have Jackson who's going to be coming off of an injury. So I can definitely see them trading Jackson Dart and getting a first round pick for him. [08:00] Because you will get a first round pick for him. And I understand, it's been five quarters. Where JJ's thrown in five quarters, he's thrown 500 yards, almost 500 yards. But hear me out when I say this. Just hear me out. And I'm a Giants fan, but I'm I'm not one that like, oh my god, one good game, let's throw Jackson to the side. No, no, no. Jackson is obviously the franchise quarterback for the New York Giants. And obviously, it should be his when he's ready to come back. But hear me out. I I want y'all to hear me out for a second because this is something I was thinking about when I was watching the game. And even after the game, this is what I thought about. [08:45] JJ McCarthy has been a winner at every level. He won the national championship with Michigan. I I I think we I think we lose sight of this. He's 23 years old. He's five months older than Jackson Dart. He's only played 10 games in the NFL. He got injured and he lost a year due to an injury. [09:17] And you have a coach who I respect, you know, the the Minnesota coach, KOC, I respect him. He's done a lot for a lot of quarterbacks. He's worked with a lot of quarterbacks and they've gone on to play really well. Look, Daniel Jones went to Minnesota, right? Former, you know, Giants quarterback. He went and and he studied in with KOC. He went to Indiana and look how he's performing. [09:48] Sam was a quarterback. Sam was a quarterback with, you know, with the Vikings on the KOC. Goes to the Seahawks, wins the championship. I just don't think they gave this kid enough time. Maybe this was a move by the GM. Maybe KOC never wanted JJ because he has a different offense. Y'all y'all have to think, it's not the coach, it's not that the coach hates, it's not that the coach hates the quarterback or the player. It's that the the player might not fit into the scheme that the coach is playing. [10:24] Think about think of it this way. I want you to think of it this way. Look at Jameson. Jameson took over for Jackson Dart. Naggy created an offense around Jackson Dart. So when Jameson came in, they had to scrap the offense and just now built something that was effective for Jameson to run. That's the problem. Because Jameson can't run the offense that was designed for Dart. [10:57] So what do they do? They a lot of people are like, what the hell are they doing bringing in JJ McCarthy? But JJ McCarthy's style is one of Jackson Dart. They play similar. Now they could take now they could take that offense that they designed for Jackson and allow JJ JJ to use it and they can execute on it. They're both mobile quarterbacks. JJ can run. JJ's mobile. And guess what? I'm sitting back. I'm watching tape. [11:31] JJ McCarthy has a a stronger arm. I can't believe I'm saying this, but it's the truth. Does that mean because he has a stronger arm, he's better than JJ? Uh better than Jackson? No. That doesn't that's not what I'm talking about. But JJ does have a stronger arm. [11:53] Is Jackson a little bit more elusive? Yeah. So like they all they have their pros and their cons. [12:03] But hear me out. JJ McCarthy in his five quarters showed that he's about that life. They allowed him to play in a system to where sling it, young fella, sling it. Play your game. They didn't they didn't try to adjust his mechanics or make him play a different way. [12:32] Play to your talents. You don't want to you don't want to tell Michael Jordan to stop, you know, stop going to the basket and just shoot threes. That's not Jordan's game. Even though Jordan could shoot threes, I'm just saying like, that's not Jordan's game. I'm not comparing JJ to Jordan. All I'm saying is JJ is now in a place where he's smiling. He's happy that he's having he's gotten this opportunity to play and to showcase what he's worth. So he wins a national championship. [13:09] He goes into the NFL as a top pick, top 10 pick. Doesn't play right away because he gets injured. And then like Minnesota doesn't really allow him to play. They're trying to change him as a quarterback. [13:33] He's 23 years old and people are giving up on a 23-year-old? Quarterbacks take time to develop. Every single quarterback takes time to develop. You can't write them off after two to three years. [13:52] So here's JJ, looks really impressive and the whole team is rallying. The entire team, defense and offense, they're rallying behind him. You see it like they they love him. They like him. They love his aura, the the swag, the swag, the aura is there, man. He has that aura. I don't care what anybody says. Y'all can meme him for that one, you know, for that for that, you know, post game in the locker room where he looks like he's crazy and stuff. But like this kid got aura, man. And the way he speaks at the podium like a professional. So what what I started thinking, and I know I'm going to get killed for this too when I say this. I know people are going to get on me for this. [14:38] But I'm watching the game yesterday and I'm saying to myself, could this be a Tom Brady moment? Tom Brady took over for Drew Bledsoe. And though Drew Bledsoe wasn't wasn't Belichick's guy guy, but this to me seem like or it seems like one of those things that if JJ does well, where he takes the Giants to the playoffs, and they win a game, that the conversation becomes is JJ the franchise quarterback for the Giants? Or do we keep Dart and trade JJ? [15:38] It's a good problem to have in your hands because you'll get a first round pick for either or. You'll if you trade JJ, you're getting a first round pick and if you trade Dart, you're getting a first round pick. So you're in a good position. But if JJ plays, if JJ really plays his ass off, [16:05] I'm just saying this this is probably and and I know again I'm going to get a lot of heat for this, but think about this. Harbs, this is I mean, he played for his brother. If you think this trade went down without them asking his brother whether or not they should get him, you're crazy. [16:32] Again, I'm not saying that he's Tom Brady. I'm saying that the timeline kind of reminds me of what Brady went through. That that's all I'm saying. That's absolutely all I'm saying. [16:50] It's a good thing for Giants fans. Again, I'm not anointing him the goddamn franchise quarterback for the New York Giants. Obviously, there's still a season to go. He has a lot to prove, okay? They can end up finishing last. But I think JJ, he has the tools, man. He has he has if you tell me who's the better quarterback, I think Dart has a slight edge on on JJ. But if JJ puts it all together, I'm just saying. [17:24] You have to have this here here's the here's another problem that you have. I like I like Jackson Dart a lot. I like Jackson Dart a lot. But he continues to get injured. There have been players that have been really great players. They can't stay on the field. It's just bad luck. How many great players have we seen whether it's the NFL, NBA, NHL, just like they can't stay on the ice. Eric Lindros was a monster player. Guess what? He couldn't stay on the ice due to concussions. It's not his fault. It's not Eric Lindros a lot of you guys weren't even born. But it wasn't because of I mean, it wasn't because Lindros was a bad player, just couldn't stay on the ice. [18:17] That's it. [18:21] Injury prone. That's it. That that you play Madden. If you guys play Madden, you look at the stats on players, you get to see if they're injury prone or not. There are people that just, you know, they're they're built to where they're injury prone. That's it. Yeah, what happened to him against the Rams? Freak accident. But injury prone. There's nothing you can do about it. [18:51] Anyway, welcome to the breakdown. Sorry I went 26 minutes into football, but let's play the thing that I wanted to play here. [19:00] Where John Harball was talking about uh Jackson Dart and I kind of felt it from a from a from somebody who's creating I guess content. I kind of felt it. I kind of felt it. Hold on. Let's bring this up. I mess with it. Let's go ahead and play this. [19:22] point. He's spot on. He's exactly right. You know, it's like it's that it's that thing. It's it's you know, guys have scars. He has scars. He's been wounded. He's been broken. He's been battered. You know, but you heal stronger and you find and you and you become better because of it. So you should be grateful. You know, you okay, I won a national championship. got a high pick for the Minnesota Vikings. was the guy after they let the veteran quarterback go to Seattle. Uh fought my way through but it ended up not working out for me. got benched, got ridiculed. Uh got traded. Got traded. Good. Good good on every single one of those counts because it's made me stronger. It's made me who I am if I'm of the character to understand that. Like that is how life works. You know, that's why I just love football as a metaphor for life for kids watching. I mean, that that is a that's a lesson for everybody. Failure is not final. Is there a saying somewhere? Help me out. There's a great there's a great quote there on that one. I'll look it up. Look it up. [20:19] That hit. Him saying that about JJ, I was like, you can you can sometimes think about what you're doing in life and and say, yeah, man, like, [20:30] Man. Sometimes sometimes, you know, it's it's crazy. Sometimes you get into this flow. You get into this flow and you feel unstoppable and then somewhere as you're racing down that road, there's a bump in that motherfucker and you start to question yourself. Legit. And you start to lose your confidence. You say you really do start to lose your confidence. [21:10] But if you're determined and you're obsessed with what you're doing, you'll figure it out. You will absolutely figure it out. [21:24] So my mindset's the same way. It's kind of like from that perspective, yo, I was doing fucking phenomenal on Twitter. And then all of a sudden, everybody's I don't know, except for like eight, nine people, everybody's being handcuffed with the algorithm and it's just like it could beat your confidence down. Like what the fuck? Am I producing bad content? No. Am I not bringing on really good guests? I'm bringing on great guests. We're having great conversations. [21:54] What what what the fuck is happening? Is it me? Am I past my prime? Because I'm in my prime. You start questioning. You you really do start to question like what the fuck is happening? [22:09] But if you really are obsessed with what you're doing, you're like, no, no, no, no, no, hold on. Let me let me let me zoom out for a second. Let me let me look. Let me look. Let me see what I'm doing. Am I doing something wrong? Am I not delivering the way I used to deliver? Let me see. Am I did I lose some speed off my fastball? No, I didn't. If anything, I got better. My mechanics are better. I deliver better. What's happening? [22:34] So when he said that yesterday, I kind of like I was like, man, man, I I fuck with that message. Anyway, welcome to the breakdown. Thank you for tuning in. 12:00 to 2:00 p.m. Eastern Standard Time. We have guests coming on tomorrow, the entire week. Hopefully you join us. Shout out to TikTok, shout out to YouTube, shout out to uh Twitter, shout out to Getter, shout out to wherever you're tuning in from. Thank you so much. I appreciate you guys coming on here every single day and taking the time out to watch this show and watch me talk about the markets, watch me talk about politics, watch me talk about AI. I wish I didn't talk about much I didn't talk about AI that much today. I'll talk about more about it tomorrow. There's a lot of things that are happening with with Grockbots and and Muse, a lot of things happening that you can absolutely dive dive deep into. [23:31] And better your situation. I'm telling you that I I'm going to have AI talks with you guys, man. I believe in it so much that I want to see everybody jump into it, use it and potentially become super successful with it. So we'll talk more about it. And again, you can cop the book, the million dollar AI playbook. You can get that on Amazon, okay? Or you can go to my website, Davidgokhshtein.com. [23:59] On that note, I'll see you later. I'm out.