Shownotes
News and Notes
https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6
https://www.protocol.com/bulletins/crypto-firm-celsius-stops-withdrawals
https://cointelegraph.com/news/usdd-stablecoin-falls-to-0-97-dao-inserts-700m-to-defend-the-peg
https://cointelegraph.com/news/crypto-exchange-coinbase-slashes-staff-by-18-amid-bear-market
https://twitter.com/finblox/status/1537414199890296838
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I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!
Website
Music Credits
Protofunk by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/4247-protofunk
License: https://filmmusic.io/standard-license
The following music was used for this media project:
Music: Ethernight Club by Kevin MacLeod
Free download: https://filmmusic.io/song/7612-ethernight-club
License (CC BY 4.0): https://filmmusic.io/standard-license
Artist website: https://incompetech.com
Transcripts
No one on this podcast is a financial advisor.
Speaker:All information presented on this podcast is for informational purposes only.
Speaker:Now that we have the legal stuff out of the way, let's jump on in.
Speaker:Welcome to Generational Wealth with Cryptocurrency Podcast.
Speaker:I am your host, MacIntosh.
Speaker:Today we are talking about news and notes.
Speaker:There is certainly a lot of news this week.
Speaker:I almost released an episode earlier, maybe even a couple of days early, and I decided
Speaker:not to.
Speaker:I figured, so today's episode is primarily going to consist of the news, as we've certainly
Speaker:had a lot going on.
Speaker:I do have a note at the end, an announcement, so to speak.
Speaker:It's tangentially, I hope I said that word right, related to the podcast itself.
Speaker:But there might be some interest out there, so I thought I would throw it out.
Speaker:So it has been a week.
Speaker:The price of Bitcoin right now is at $20,550.
Speaker:Ethereum is at $1,085.
Speaker:If I'm not mistaken, we're basically at the low that we've been.
Speaker:We've touched a couple of times over the last few days.
Speaker:It seems like, yeah, here it is.
Speaker:It looks like we went slightly below $20,000 briefly.
Speaker:Let's see what level we got, if I can get that dialed in.
Speaker:On the 15th of June, no, it looks like we're right around $20,000.
Speaker:I think we actually dipped below a little bit, but regardless, it was somewhere right
Speaker:around there.
Speaker:And basically, we're kind of at that level.
Speaker:I don't think it's going to stay here, and I'll explain why.
Speaker:I do not think at this point that everything is over.
Speaker:We may get a bounce from here.
Speaker:And even if we do, let's say we head back up to $30,000 or even $40,000, as I have explained
Speaker:in the past, this is not over with.
Speaker:This is not going to be a quick wick down and bounce, unfortunately.
Speaker:We are way too correlated with the overall markets.
Speaker:The Federal Reserve meeting was this week.
Speaker:They announced a 0.75 interest rate hike, which is really what Wall Street expected
Speaker:at that point, but the markets in general are pretty much in freefall at this point.
Speaker:Of course, Bitcoin, of course, crypto across the board has been suffering really for several
Speaker:months straight now without signs of relief, and that's the way that it is.
Speaker:So we're solidly in this bear market.
Speaker:I don't think it's going to be a short one.
Speaker:Even if we reach a low within the next few months, which is probably what's going to
Speaker:happen, I do believe we will stay under $30,000 in large part for potentially the rest of
Speaker:this year.
Speaker:It might be late this year that we start heading back up, but that certainly remains to be
Speaker:seen as not something I would be predicting.
Speaker:So let's talk about the biggest news of the week, and that would probably be Celsius.
Speaker:Celsius is a company that I have talked about on here a little bit, and I'll be honest,
Speaker:I actually debated putting money on Celsius, and I'm certainly glad at this point that
Speaker:I did not.
Speaker:If you're not familiar with Celsius, they are a centralized company, which in and of
Speaker:itself is not a bad thing, but they were basically a DeFi platform, a lending, they did a variety
Speaker:of things.
Speaker:Basically, you would put money in, you're supposed to generate yield on that, kind of
Speaker:like a bank.
Speaker:The problem is the yield was quite high, and they were not able to do that as the market
Speaker:went down, in my opinion.
Speaker:And things kicked off, I'm going to open this up, on June the 13th, so three days ago at
Speaker:this point.
Speaker:They announced that Celsius is pausing all withdrawals, swap, and transfers between accounts.
Speaker:We are taking this action today to put Celsius in a better position to honor, over time,
Speaker:its withdrawal obligations.
Speaker:So what they were trying to avert was a bank run.
Speaker:There was already rumors that they were becoming insolvent.
Speaker:They were, I believe, according to what I've read, heavily invested in Terra Luna, which
Speaker:of course crashed, and so they made a decision to stop everything.
Speaker:So that of course has generated immense outrage, and lawsuits that are forming up, even as
Speaker:I record this.
Speaker:And I think that was a play for them to try and, and this is just my opinion, so take
Speaker:it for what it's worth, but I think it's just a play for them to try and figure out what
Speaker:to do.
Speaker:I honestly think it's already too late.
Speaker:And to give credence to that, on June the 14th, late, if I'm not mistaken, they hired
Speaker:restructuring lawyers after the account freeze, which I already talked about.
Speaker:Now, what does that mean?
Speaker:They basically hired lawyers to figure out solutions for their financial predicament.
Speaker:Now, it's very clear in their terms of service that if they go bankrupt, they own their debtors
Speaker:nothing.
Speaker:Now that's what the terms of service say.
Speaker:The courts of the United States might have something different to say about that, but
Speaker:that remains to be seen.
Speaker:So I think what they're doing here is they're hiring these lawyers to protect themselves.
Speaker:So I promise you, in all of this, just like with Terra Luna, the people who started it,
Speaker:who ran it, who drove it into the ground, in fact, will come out scot-free with lots
Speaker:of money, and the people who invested their money will be the ones who suffer.
Speaker:This is the next step in our crypto winter.
Speaker:This is the next step.
Speaker:What I see is the breakdown, if temporary, which is certainly possible, but the breakdown
Speaker:of DeFi.
Speaker:It's too complex and it's too fragile.
Speaker:Any system that you build on a blockchain, any financial system like this, has to be
Speaker:able to withstand extreme drawdowns.
Speaker:I think Bitcoin has dropped around 70% from its all-time high.
Speaker:That's certainly not...
Speaker:It's happened before.
Speaker:Let me put it that way.
Speaker:And in fact, during the last bear market in 2018, if I'm not mistaken in December of 2018,
Speaker:it was down something like 80%.
Speaker:By the way, I'm not drinking Earl Grey tonight.
Speaker:It's something...
Speaker:We're out of our Earl Grey and I'm basically cleaning out my cabinet.
Speaker:Not quite as good, but it's okay.
Speaker:Do I believe that DeFi in the long run will continue?
Speaker:Yes, I do, actually.
Speaker:I do think there's lots of financial services that can benefit from these types of true
Speaker:decentralized systems that are quality.
Speaker:This is part of the weeding process.
Speaker:As I explained, I'm just not willing myself at this point anymore to take risk on these
Speaker:type things.
Speaker:I would never anymore recommend that somebody put...
Speaker:You could go to Nexio, I think it is, N-E-X-I-O, something like that.
Speaker:Anyways, they're a very, very similar platform, centralized.
Speaker:Now they actually have, in theory, insurance that would protect from loss.
Speaker:I don't know that I'd put that to the test, which Celsius did not.
Speaker:And they've actually offered to buy or help out Celsius.
Speaker:I wouldn't say buy.
Speaker:I don't think that was the word that they used.
Speaker:But inject them with liquidity to get them out of this.
Speaker:And I'm sure part of that would be they would take a major part of ownership of the platform.
Speaker:I would never tell anybody at this point to invest in any of these.
Speaker:I think we need to see extreme bear markets, which we may see yet, before I'm willing to
Speaker:put anything, any amount of my capital at this point, into something like this.
Speaker:I'm getting to be more and more conservative as all of this stuff falls apart.
Speaker:So we need to move on.
Speaker:There's lots of information to cover.
Speaker:But I'll have multiple articles in the show notes that you can take a look at if you want
Speaker:to.
Speaker:Short version, they've stopped withdrawals.
Speaker:They've not restarted those at this point.
Speaker:There's no plan at this point that they've published to do that.
Speaker:And there are people, Ben Armstrong, who's one of the most well-known YouTubers, crypto
Speaker:YouTubers is threatening to sue them.
Speaker:In fact, he seems to be doing that.
Speaker:He apparently has a large amount of capital in there.
Speaker:All right, next, our next bit of the puzzle.
Speaker:Here is a stablecoin, which has not been so stable this week.
Speaker:It does look like this one's going to make it.
Speaker:The USDD stablecoin is off its peg.
Speaker:It still is.
Speaker:I checked earlier tonight.
Speaker:It's at like 98 cents.
Speaker:So it's mostly recovered.
Speaker:It was down, I think, at most to about 95.
Speaker:In fact, there'll be an article I put in show notes that they've added about $700 million,
Speaker:so almost a billion dollars, to back that.
Speaker:Now, I don't know that much about this coin.
Speaker:I do know it at least is somewhat backed by Tron TRX, which probably has not done too
Speaker:well over the last few months.
Speaker:So again, these are the stress tests that will determine the immediate future of crypto,
Speaker:really.
Speaker:If these things continue to fail, you're going to see a lot of innovation and a lot of people,
Speaker:for that matter.
Speaker:They're just going to leave.
Speaker:The people will leave.
Speaker:They won't come back maybe for years, because if you take somebody's money and you put it
Speaker:in a product and then the product fails, they don't typically take very nicely to that.
Speaker:Now, we're always saying things like, don't invest money that you can't afford to lose.
Speaker:But that doesn't mean that you should lose it.
Speaker:That just means that you're not destitute if you do lose it.
Speaker:All right.
Speaker:It does look like they had the liquidity to weather this storm, so to speak.
Speaker:So good for them.
Speaker:I hope they've learned from that.
Speaker:Maybe they should put it in something a little more stable besides Tron.
Speaker:But I think that's the whole point of the stablecoin is backed by Tron.
Speaker:A third report, Three Arrows Capital, which is one of the oldest funds, hedge funds, crypto
Speaker:hedge funds.
Speaker:Only appears to be in serious trouble.
Speaker:Now, this is somewhat rumor, but sources do say that they may face insolvency.
Speaker:The people who lead it have basically stopped talking as of a few days ago.
Speaker:And there's a lot of uncertainty.
Speaker:Now, I'm sure they have quite a bit of customer funds.
Speaker:Two Zoo and Kyle Davies are the two founders founded in 2012.
Speaker:So as I said a long time ago, less than a billion dollars, somewhere around 400 million
Speaker:dollars in assets.
Speaker:Apparently, they're losing a lot of that.
Speaker:They were heavily invested in Terra.
Speaker:So they lost a lot of money from that, apparently.
Speaker:And we'll just have to see how that works out.
Speaker:So that was another bad news this week.
Speaker:I'll go ahead and go through the rest of the bad news and then we'll talk about what I
Speaker:think is actually some good news.
Speaker:Bad news.
Speaker:We are starting to see layoffs.
Speaker:Now, I've been tracking the overall economy, as you know, for a while.
Speaker:Well, I've been tracking it for a long time, but on this podcast for a while.
Speaker:And we've been seeing layoffs elsewhere.
Speaker:But now it's starting to hit crypto companies, Coinbase reduced its headcount by 18%.
Speaker:There was a couple of others and some of this was done very, very poorly.
Speaker:They would tell somebody that, hey, we're hiring you.
Speaker:And then right before they were supposed to start, they got a notice saying actually bad
Speaker:news, we're not hiring you.
Speaker:So that would really stink, especially when you quit your old job.
Speaker:It looks like Gemini is having some layoffs, Robinhood and BlockFi.
Speaker:BlockFi actually said it was laying off 20% of its staff last Monday.
Speaker:So not that my little voice matters in all of this, but I would tell these companies
Speaker:that if they cannot plan for a bear market in crypto, then they're freaking idiots and
Speaker:they don't need to be running companies.
Speaker:This is shameful that people, their lives are getting upended because you can't plan
Speaker:ahead.
Speaker:And I know Coinbase, for example, has hundreds of millions of dollars in reserve.
Speaker:And if they are so desperate that they have to cut 18% of their employees, then they have
Speaker:very poor leadership and they need to think about that.
Speaker:I know that layoffs are necessary sometimes, I'm well aware of that fact.
Speaker:In this case, it's not because these companies have merged with a bunch of other companies
Speaker:and so on and so forth.
Speaker:It's simply because they didn't plan ahead.
Speaker:They're scared of what's going to happen now for the next couple of years.
Speaker:And so they're tightening everything up.
Speaker:So they didn't plan.
Speaker:So shame on them, seriously.
Speaker:They'll never hear that message, but that's okay.
Speaker:I got it off my chest.
Speaker:Right.
Speaker:So BlockFi already talked about that.
Speaker:So we had all of those.
Speaker:That was fortunately maybe the last of the bad news and the one little bit of good news
Speaker:that we did have this week, and I am not a fan of the SEC as you guys know.
Speaker:But in this case, I think they're doing the right thing.
Speaker:So the SEC is actually investigating insider trading on exchanges.
Speaker:Look, it would be very easy to manipulate these if you worked at one of these companies.
Speaker:So these companies should have strict procedures about how that's handled and anybody who does
Speaker:that should not be tolerated and immediately terminated and maybe with criminal prosecution
Speaker:or civil prosecution anyways, if that's not, I don't know, I don't know if it's criminal
Speaker:offense.
Speaker:I don't think it is, but regardless, oh, and one other little bit of news.
Speaker:This one actually came up tonight and it is in regards to just second.
Speaker:So FinBlox, which is a DeFi company, earlier tonight posted this on Twitter, or actually
Speaker:it was this morning, excuse me, 738.
Speaker:And I want to read a little bit of this.
Speaker:We've been closely monitoring market conditions and numerous media reports regarding a prominent
Speaker:institutional borrower, Three Arrows Capital, who I already talked about, who is an investor
Speaker:in FinBlox.
Speaker:Uh-oh.
Speaker:So anyways, they've been cooperating with other people, including 3AC, to generate yields
Speaker:and spread risk.
Speaker:We decided to take the following actions while pursuing all available options to evaluate
Speaker:the effects of 3AC on liquidity and ensure fair treatment of all users.
Speaker:They're going to pause rewards, they're going to change the withdrawal limits down to 500
Speaker:USD dollars per day, up to a maximum of $1,500 a month, which really isn't that much, delay
Speaker:referral programs and deposit rewards, and disable creation of crypto addresses for newly
Speaker:registered users.
Speaker:So essentially, they're doing what, um, what Celsius is doing.
Speaker:And this is the chain effect, the chain reactions, right?
Speaker:We've got issues with Teraluna, which causes issues with 3AC, which has now caused issues
Speaker:with FinBlox.
Speaker:It's probably also caused issues with Celsius and so on and so forth.
Speaker:The ripple effects of these things are going to go on for a while.
Speaker:If you have assets on any of these type platforms, I would strongly consider at this point that
Speaker:you put them in your own wallet.
Speaker:If you have a substantial amount, minimal, I would put them on a centralized exchange
Speaker:like Coinbase or something like that, and I honestly would think very strongly about
Speaker:that.
Speaker:I'm having deep reservations about even centralized exchanges these days.
Speaker:If these companies are so stupid that they can't even manage their employees to the extent
Speaker:that they have to go and cut 20% of their workforce, then maybe they shouldn't be managing
Speaker:money at all.
Speaker:I don't know.
Speaker:Sorry, I'm a little upset tonight because, well, I'm just, I'm a little upset tonight.
Speaker:So that actually was the last of the bad news.
Speaker:I apologize.
Speaker:That should have came before the SEC information, but that is actually it finally on the news.
Speaker:I think that's the most news we've ever had.
Speaker:Even when I was doing one a week, lots of stuff going on, of course, a lot of it interrelated.
Speaker:Unfortunately, by the way, Bitcoin now down to 20,340.
Speaker:Looks like we're going to test 20,000 again.
Speaker:I will throw this out.
Speaker:If it breaks 20,000, we'll probably be heading down to 17K.
Speaker:And a note about Ethereum, I didn't talk about Ethereum a whole lot.
Speaker:It's at 1069 right now.
Speaker:It actually got down, I thought it touched 980 or something.
Speaker:I don't see it on this chart.
Speaker:I only see it down to 1021, but somewhere around $1,000 anyways.
Speaker:So with Ethereum, unfortunately, Celsius has a lot of Ethereum, what they call wrapped
Speaker:Ethereum.
Speaker:And that's more complicated than what I'm going to go into.
Speaker:But it's a staked Ethereum, wrapped staked or something.
Speaker:I don't know some fancy derivative basically of Ethereum.
Speaker:And if Celsius unwinds, there are people saying that it will depress the price of Ethereum
Speaker:down to $600.
Speaker:Do not be scared of this.
Speaker:Please hear me out.
Speaker:There are two assets at this point that I could tell you that with strong assurance
Speaker:that they're going to survive this, and that's Bitcoin most strongly.
Speaker:If Bitcoin goes to zero, then this whole thing's a failure, and we might as well pack it up
Speaker:and all go home.
Speaker:But the other one would be Ethereum.
Speaker:I have no reason at this point to doubt Ethereum.
Speaker:There's a lot of fear, frankly, about Ethereum at this point because of the merge and this,
Speaker:that and the other.
Speaker:There's no reason to believe that they will not be anything but successful, and it'll
Speaker:all be good.
Speaker:So if we get $600 Ethereum because Celsius goes belly up, my suggestion would be that
Speaker:be a really good time to invest in Ethereum, just like if Bitcoin gets down to $17,000
Speaker:or $15,000 or God forbid $10,000 or less, it's a great time to buy.
Speaker:I will stop buying Bitcoin when it's zero.
Speaker:It will not get there, I don't think.
Speaker:But if I do, that's when I will stop buying it because there are people who believe in
Speaker:Bitcoin outside of its monetary value, and that's very important.
Speaker:They do not care about the monetary value.
Speaker:And even if all of the financial institutions in the world stop using Bitcoin, it will still
Speaker:be used by those people.
Speaker:And I believe over the long term, Bitcoin itself is a key component in somehow riding
Speaker:this stupid world economy that we've got going on, printing money out the, well, out the
Speaker:wazoo, which maybe is not the best thing to say, but you know, well, I don't want to get
Speaker:off on that.
Speaker:We're already at 25 minutes.
Speaker:This was supposed to be a very short episode, and I still haven't even gotten into my news.
Speaker:Anyways, at this point, it's the only real solution for the mess, the economic mess really
Speaker:that the world is in.
Speaker:And I honestly hope that we don't kick the economic can down the road somehow for a few
Speaker:more years.
Speaker:We are in pain worldwide.
Speaker:Interest rates are up, inflation's up, so on and so forth.
Speaker:Let's get this done with.
Speaker:Let's just, let's get it done with.
Speaker:And Bitcoin is frankly the only solution that I see for reasons that we have discussed.
Speaker:A fixed supply.
Speaker:You can't, you can't print more of it.
Speaker:Anyways, my news, my news is this.
Speaker:I'm looking at, you know, basically the next year plus of this being a crypto winner, and
Speaker:maybe I'm wrong.
Speaker:Maybe we bounce back very quickly, and by this fall, we're at $100,000.
Speaker:I doubt it, but it's possible.
Speaker:This is crypto, anything's possible, and you should always keep that in mind.
Speaker:And I've had an idea bouncing around in my head for a while.
Speaker:One of the ways that I think crypto and Bitcoin specifically can provide great value to the
Speaker:world and also increase its usage, and it's this.
Speaker:If you've been around for any length of time, you're familiar with email.
Speaker:Email was really one of the first protocols that were developed for the internet, SMTP
Speaker:specifically.
Speaker:And everybody uses it.
Speaker:The problem that we have with email is that 80% of it, actually somewhere between 80 and
Speaker:85% of it is spam.
Speaker:It's junk.
Speaker:It's garbage.
Speaker:It's, you know, send me money and I'll make you rich, and this kind of thing.
Speaker:And it's simply because the operational cost of sending a million emails is so low.
Speaker:I can send a million emails for 25 cents.
Speaker:It's nothing.
Speaker:Well, with Lightning specifically, if we integrate Lightning with email, and essentially I'm
Speaker:talking about building an email 2.0, this would not be, it would not fit into the current
Speaker:email paradigm.
Speaker:So it would require changes to how people interact with email.
Speaker:But the same basic, you get your email and you got a to and a from and so on and so forth.
Speaker:That's all still going to be there.
Speaker:We're not going to like flip the whole paradigm.
Speaker:But what we are going to do is build in mechanisms so that whenever you send an email, there's
Speaker:a charge for it.
Speaker:And that charge, I'm not going to say what it is definitively.
Speaker:I would hope maybe one sat would be sufficient, but we'll have to do some calculations.
Speaker:But even if it's 10 sats or 100 sats, frankly, it would be very minimal.
Speaker:If you remember, there's 100 million sats in a Bitcoin, there's a, I want to say it's
Speaker:like 3000 sats to a dollar or something like that right now.
Speaker:The price fluctuates so much, it makes it hard to keep up with.
Speaker:But regardless, even at one sat per email, think about it, if I'm sending a million emails
Speaker:out, that costs me a million sats.
Speaker:So that's one 100th of a Bitcoin.
Speaker:So right now at $20,000 for a Bitcoin, that would be $200.
Speaker:So suddenly, if somebody is not, if only a very minute amount of people are clicking
Speaker:and replying to my email, it becomes a lot more financially risky, even at one sat.
Speaker:So what about the average person?
Speaker:Well here's the thing.
Speaker:So first of all, the average person, I'm guessing probably sends less than 100 emails a month,
Speaker:probably a lot less.
Speaker:So you're talking about less than a cent or less than a few cents, less than a quarter
Speaker:to do this system.
Speaker:And in return, you're going to get a lot less email.
Speaker:You're not going to have to worry about spam filters or anything because if it's not financially,
Speaker:if it doesn't make financial sense, then the spammers won't use it.
Speaker:And here's the other part, where does the one sat go or the 10 sats or whatever?
Speaker:My idea, and again, not all this is written in stone certainly, but the idea would be
Speaker:to pay the user at least a good portion of that, the receiver.
Speaker:So if I get an email, I get at least the majority of the fee for sending that email.
Speaker:So if I send 100 sats or 100 emails to 100 different people, they would receive those
Speaker:sats.
Speaker:And if my spammer sent me an email, I get a sat.
Speaker:So I would almost welcome that spam.
Speaker:I was actually, we're recently changing some email around and I moved off of Gmail, a domain
Speaker:that we hosted on Gmail.
Speaker:It used to be free and they're at the end of this month actually, they're finally stopping
Speaker:that.
Speaker:And I was actually looking, I started that back in 2013, so almost 10 years ago.
Speaker:And I have over 200,000 emails and I promise you most of them are spam, 200,000 emails.
Speaker:And that doesn't include what I've deleted and filtered out and all this kind of stuff.
Speaker:That's just kind of the bulk of the email.
Speaker:That's 200,000 sats.
Speaker:So this actually for the end user could kind of become a fun experience, right?
Speaker:I'm not getting spam, I send an email, somebody sends me back an email.
Speaker:The sats kind of just bounce back and forth.
Speaker:So I'm just throwing this out there.
Speaker:My idea would be that we create an open source email server, email 2.0 if you want to call
Speaker:it that server.
Speaker:And I haven't come up with a good name for it yet, but regardless.
Speaker:Looking at doing a Rust implementation, Rust is a programming language that's extremely
Speaker:fast and actually fairly easy to work in.
Speaker:And basically we'll take a server that's out there and then we'll add some additional functionality
Speaker:to it.
Speaker:We'll change the port.
Speaker:We're obviously not going to operate over the same email port of the current standard,
Speaker:which for SMTP would be port 25 and that kind of thing.
Speaker:So my plan is over the next year or so to see if I can get this going as a way to help
Speaker:the crypto ecosystem or the lightning ecosystem or Bitcoin or whatever.
Speaker:And solve a problem that I'm frankly very tired of.
Speaker:I hate opening up my email and getting all this random spam.
Speaker:So if they want to send me spam, I should at least get paid for it, right?
Speaker:So that's the news.
Speaker:If you have any interest in that, you can shoot me an email, macintosh@genwealthcrypto.com
Speaker:and let me know.
Speaker:There'll be lots of things to do, even if it's just to kind of discuss ideas.
Speaker:I need to put together some kind of site or something.
Speaker:I may just put together a subdomain of genwealthcrypto.com for now at least to get things rolling.
Speaker:But we'll see how that goes.
Speaker:I'm hoping within a year we can have something that actually works and then you've got to
Speaker:get acceptance.
Speaker:But what I've seen with podcasting 2.0 over with Adam and David that I've talked about
Speaker:before, they saw a problem and they went out and they worked on it and they are solving
Speaker:that problem.
Speaker:They are creating really what's a new product and a much better product and so maybe to
Speaker:an extent I'm trying to emulate that.
Speaker:So that is actually it for this week.
Speaker:One final little note, as we go into this bear market season, if it doesn't look like
Speaker:things are going to kind of jump back, I probably will drop down to one episode a week, especially
Speaker:if I start working on this email stuff a lot because this podcast does actually take me
Speaker:quite a bit of time to do and I want to be careful about how I use my time.
Speaker:I have other things going on and I need to guard my time.
Speaker:I don't want to be doing two episodes a week just because.
Speaker:I like doing this podcast and I hope it's helpful for some people but well, we'll see.
Speaker:That is certainly a possibility.
Speaker:The Generational Wealth of Cryptocurrency podcast supports podcasting 2.0.
Speaker:It's a value for value podcast with no sponsors and no advertising.
Speaker:You can support the podcast in three ways, by time, talent or treasure.
Speaker:If you want to support the podcast and has some time or talent, I could use some help
Speaker:with such things as chapters for the podcast, transcriptions and probably a few other things
Speaker:as well.
Speaker:Treasure is just what it sounds like.
Speaker:If you find the content valuable, you can support the podcast by streaming sats from
Speaker:podcasting 2.0 app or sending support via PayPal to macintosh at generalwealthcrypto.com.
Speaker:You can get a podcast 2.0 app for the optimal listening experience at newpodcastapps.com.
Speaker:If you like the content, I would love it if you would tell your friends about the Generational
Speaker:Wealth of Cryptocurrency podcast.
Speaker:Thanks for being here.
Speaker:I hope this has been helpful.
Speaker:I would love to hear from you.
Speaker:I'm on Twitter at MacintoshFintech and you can reach me by email at macintosh@genwealthcrypto.com.
Speaker:Now go out and make it a great week.