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Good Day ₿itcoin: Crypto News & Ordinal Views
Recorded: Sept. 24, 2025 Duration: 1:03:01Space Recording
Short Summary
In a dynamic crypto landscape, the global market cap remains stable at $3.9 trillion, while altcoins like Aster experience explosive growth, with a staggering 2,585% increase in just a week. Ethereum holds strong above $4,000, reflecting investor confidence, as discussions around stablecoins and interest rates shape market trends.
Full Transcription
Thank you. Thank you. Thank you. Good morning. Welcome to Good Day Bitcoin. We are back. It's 9.02 a.m. Eastern Time,
and it's the 24th of September. Let's see. 3.9 trillion is a global crypto market cap. That is basically not changed
since this time yesterday, almost identical to the number it was when I said the same thing
yesterday. And I had said the same thing from the day before yesterday as well. A lot of sideways movement this week.
Fear and greed index sitting at 39.
Altcoin season numbers at 70 out of 100.
And the average crypto RSI has climbed out of the 30s and is now currently at 43.41.
barely out of the oversold regions.
Barely out of the oversold regions.
Bitcoin did dip-a-roni to, what, $111,100 late, late last night.
Looks like right before midnight.
Since then, it's been nothing but one-hour green candles
minus, I don't know, one or two little baby little wickeronis.
Bitcoin currently at $113, pretty much, right? Smack dab on top of
that thing. $113,090. ETH is at $4,183. ETH held 4K last night. The wick on that candle on that one hour went from 41.50 about, 41.45, something like that, all the way down to 4,078, 77 bucks, something like that.
Impressive stuff.
And you know what comes next. Solana dipped to $205.02.
That happened around 11 o'clock last night. Same thing as the others. Since then, the chart has been uppity up and we are back where we were almost even Solana yesterday, but I don't know. I'm actually looking at this now. Solana was up like seven bucks or so
from where it is right here. Essentially, like what? Where are we talking about? A percent?
Nothing. 24-hour change for Solana, not a percent? Nothing. 24 hour change for Solana.
Not a percent.
3.44 percent.
Good morning, Hoddle.
GM, Tom, apparently hype is dead and everybody's on Binance still.
Nothing has changed.
Yep.
I have that on my tabs.
I have a tab for Binance where they're talking about cutting their fees
in half. And then I have another tab talking about Aster's explosive come up. I mean,
we're talking like 2,585% in a week, 32% in a day just between yesterday and today.
But that was as of a few hours ago.
I haven't looked at that price since like 5 a.m.
But anyways, open interest is booming for Aster.
In less than a week, open interest jumped from 33,500%.
Wow.
So basically from 3.72 million to 1.25 billion.
Wow.
What's the TVL growth on this? Let's take a look.
During the same time period, $625 million to $1.85 billion.
Only about a 200% increase.
What are the fees and the revenue? Let's take a look at those.
Fees and revenue surpassing almost over 200 million.
31.5 million staked.
Wow.
We got us one, boys.
This is what's going to happen.
I mean, this is it, right?
This is 2020, 2021, all over again.
We're going to see a few more of these at the end of this year.
We're going to see this kind of roll over into TGE setups,
which should be very nice.
This is the meme coins now.
Aster's 24-hour revenue is higher than Circles.
Only Tether has a higher revenue on blockchain.
Right.
And that 24-hour volume for that revenue
was $24.7 billion, Otto.
During that same time period.
They pocketed $10 million yesterday.
Yes, more than that.
And during the same time period.
No, no, no, no, no.
Revenue, 24 hours.
Tether, $22 million.
Aster, $9.93 million.
That's one and two.
Yep.
And during the same time period,
Hyperliquid did 10 billion in volume.
So 24.7 billion to 10 billion.
Obviously, it's the new toy.
It's the new thing to try out.
And people are trying to farm
and all that good stuff.
It's that rotation.
People just think that Hyperliquid is going to roll over and be like, okay, CZ's here.
I'm out of here.
There's huge, huge investors, American companies in particular, in Hyperliquid.
And they have so many catalysts that they can pull it.
And this isn't like a,
it's not just going to be one of these types of entities
that are going to control the market.
There's going to be multiple
and they're going to have niches into the future.
But this notion, I mean,
the reason why hype got hit so hard
is because people took their hype.
They basically sold it to buy Aster.
And also probably that's why Solana is struggling
because Solana, people were selling their soul bags to go and speculate into Aster. And also probably that's why Solana is struggling because Solana, people were selling
their soul bags to go and speculate into Aster. So I think it's one of those situations. It's just
a rotation. People are playing with the speculative asset that is new, but ultimately there's going to
come a point in time where there's going to be liquidation issues. They have higher leverage points on Aster, so some people like that better,
but ultimately it can come at bigger consequences of your users
because if you burn them dry, when price go up, it's fun in games,
but when price starts to go down, then your muster is tested.
Yeah, but if you're chasing an airdrop right now,
are you going after Hyperliquid's second airdrop or the first airdrop on aster you could do both i'm not saying you can't but you know
either or yeah i don't i yeah both i mean both technically i mean there hasn't been any news yet
on the hyperliquid airdrop i don't believe has there no i'm just saying like because everyone's
going to speculate like you know use my code you my code, you know, do the, that's what they're all doing on this. Yeah, I would assume Hyperliquid is going to, I mean, they're probably going to airdrop at similar times, if not Hyperliquid sooner, because they've been out longer.
You know, people forget how crazy Hyperliquid was.
I mean, Hyperliquid was like this, remember, when it did come out.
When it did come out, what did it come out at?
What did it come out at?
It was, was it like.
Was it like $8, $10?
Eight bucks, ten bucks.
It spiked up really high, but I think it started out at like $5 or $6,
and then that first wick went to like $40 within days.
And then it obviously retraced way down to that $8 again,
and then now it's at $45.
But still, it's good to see people winning.
It's just one of those situations.
It's not up only.
At some point, things are going to get hit on that token for sure.
Well, no, it just proves that the second that there's anything shiny, market participants, which are very limited in this space, take all their money and they run to the next thing.
their money and they run to the next thing so the second that there is a new thing whether it's suey
solana aptos avax i don't care where you're at right it's like the next time anything shows up
everybody runs and i think a lot of people are so limited on liquidity that it's just that simple
that it's so you know it's fine but it's it's it's rotation also like you could literally see
yesterday uh bmb was up 9%
and Hype was down 9%.
It was literally even.
I know that's not because
they took all that money and just took it there,
but it's really interesting that that's
what's showing up on the charts.
Hype has done some
major work in under a year. mean it was kind of a rough start
and to in my opinion started 2025 kind of week it did have you know the 35 to nine dollar move
in april right you you remember who you remember who you know there was an attack on hype remember
that right correct in the day? Correct.
And I wonder who was playing a role in some of that.
Exactly.
Mmm.
You know, this guy is a super nefarious person in our space.
Justin Sun is going to come out with the next one.
Get ready, everybody.
Justin Sun is going to be the next white whale, white savior of our space.
Yeah, we said it.
Sunburst.
The volume is just going to be him.
We're ready.
It's like, Speed, remember when they told us to all go to his chain for memes? white savior of our space. Yeah, we said it. Sunburst. We're ready.
Speed, remember when they told us to all go to his chain for memes?
Yeah, Sam Bankman, Freed, he's going to come back,
and then we're going to get.
He already did come back. He tweeted yesterday.
Luna's our next savior.
We're going to get a roll up.
Well, it wasn't him.
SBF came back, man.
It wasn't him.
It was his friend.
It was his friend on his account.
That's what he said. And everybody just said, well, just launch the coin, friend. It was his friend on his account. That's what he said.
And everybody just said, well, just launch the coin, bro.
Oh, he said GM, right?
That's what he said.
And then underneath it, he said, this is his friend.
This isn't really Sam.
Hi, good morning.
I want to play a little bit of devil's advocate here because speed ratio goes and calls CC
nefarious, right?
But Hyde came out as a competitor to Binance.
So why is he nefarious?
Bro, the whole market spread except BNB and Aster.
I think that's enough information.
They tried to instigate a liquidity run on their platform.
Wait, wait. Hold on. Hold on, Nico.
Wouldn't you say every blockchain is a competitor with every blockchain?
It's kind of a simpleton mindset.
To think that like, oh, there's a new blockchain.
I got to shut it down.
He personally took down FTX.
I mean, personally, I don't think there's any debate in that.
I know that, but FTX needed to get taken down, bro.
So he was willing to hurt millions.
Instead of going to Sam Bankman-Fried
and saying, hey, here's an issue.
You better, you need some liquidity.
What's going on here?
You better make this right.
He says, I'm going to wreck millions of people in our space.
Wait, wait, wait.
That is not a nefarious person.
You don't remember what happened
because Sam Bankman Freed was in Congress
trying to pass some crazy fucking bill
that nobody agreed to.
And that's when he decided,
okay, fuck you.
Do you remember that?
I don't think you remember that.
That was the big ball.
You think CZ went after Sam Bankman free
because of something he did in Congress
and CZ's not even an American citizen?
Doesn't matter.
It still affected him.
It affected everyone.
All right, Nico.
Whatever you say, bro.
Bro, but like,
these exchanges have been liquidating the market like this whole year.
CZ did the same thing to Celsius, bro.
Like you don't even understand what's happening if you think that this is just like, oh, yeah, he saw Congress and was like, no, bro.
That's not what CZ does.
He's taking down competitors.
CZ is a competition and he's like, I'm going to destroy you.
And he has the most liquidity of all these people.
I mean, he was in early and he has a ton of cash.
Like I think Hada was mentioning, you know, he's, he's a multi-billionaire. Bro, he said Shane has been manipulating the
market so fucking bad. And when you see the whole market red, except BNB and Aster, which are his
fucking coins, I think it's pretty obvious that he's also manipulating those, but on the other
direction. And he doesn't, you you look at when the market prices are
manipulated most it's during asian market times it's it's typical binance times in the middle of
the night where uh winter mute just gets you know tons of money flows from binance things get
liquidated and then oh everything's fine the next day and by the way cz is the best person in the
world everybody loves him i don't think we love cz CZ. I just think he's literally an old school participant, Speed.
So it's like saying like, oh, you can't-
He's the last one that's not in jail yet.
Speed, there are people who have literally
like bankrupted a million companies, right?
But still trade stocks and market manipulate
with billions of dollars in the stock market, right?
Okay, so like what happens?
It happens, for sure.
Yeah, and nobody's like, oh, bro, George Soros is the, like, yeah, he's a piece of shit,
but he's also just playing the game.
Everybody else is just fucking playing.
So suck it up, play the game, or pivot.
There hasn't been an insider trading act yet on crypto, but I can guarantee you there will
be one.
And also, he already went to jail. He did serve a four-month sentence. There hasn't been an insider trading act yet on crypto, but I can guarantee you there will be one. Not for the politicians, though.
And also, CZ already went to jail.
He did serve a four-month sentence.
Yeah.
He was eating bananas and working out every day, probably.
I'm just saying.
You said he was the last one not.
Great point, Liz.
Thank you, Liz.
How about this?
Tom, I bet you CZ is the richest person to ever go to jail.
Well, I don't think so.
That could be true.
That's definitely true.
No, that's definitely true.
Please, I'll wait. Who's richer than CZ?
Wait, more than Diddy?
Drug dealers.
He's got like a thousand Diddy
money, bro. Like a thousand
Diddy's.
I said Pablo Escobar.
Okay, well, Pablo Escobar didn't have a hundred billion dollar.
Possibly more.
A hundred billion dollar blockchain, Liz, plus Bitcoin.
Yeah, I think he wins.
No offense to Pablo.
I love you, bro, but this is a lot of money, Liz.
This is different shit.
Yeah, I'm not sure because
Bernie Madoff ended up going
to jail and somehow his wife still
ended up with a ton of money and
pretty good in New York City.
We're talking about big buildings, so I
don't know how much he was worth when he ended up in jail.
He didn't have CZ
money though, Nico.
If I'm saying something's worth like tens of
billions, these guys...
Didn't the richest guy just get $100 billion?
What do you mean the richest guy gets?
$100 billion what?
Who's the richest person in the world?
How much has he got?
Dude, I don't know, man.
That's one of those crazy ones.
Is that Elon's package?
Because you guys aren't realizing that, like, after the top, like, after, like, the big
boys at $300, $100 billion, they're all $1, $2, $3, $4, $5, $8 billion.
Okay, cool.
You got $30 billion.
Okay.
Elon's supposed to be worth $429 billion.
Right.
Okay.
He's the richest.
And so to think that, how many of the guys with $100 billion or some crazy amount go to jail?
How many?
Well, you have a point.
I mean, they find their way.
That was only the point, guys.
It was just the point.
Three.
Only three.
You gave us time.
We've looked it up.
I mean, we're internet warriors here.
You know how it is.
I'm just going off my brain.
I'm not trying to play.
Why do you think CZ is worth $100 billion?
I mean, because think about all the Bitcoin he has, all the Ethereum he has, all the Binance he has, all the PancakeSwap he has.
Think about all the coins that he has.
They know that he's got $70 billion.
So he's definitely worth $70. That's what they know.
Ah, shit. Hold on. Hold on.
We spent too much. Speed left. I wanted to
ask him something.
Go ahead.
No, he's not hearing it.
Yeah, but ask. Maybe he could
hear it and maybe he'll hear it
sometime later.
so has anybody heard about the Trump bank?
Like, I heard it for the first time today.
I think I need to get back on track because it's old news.
20% yield on USD1.
Did y'all hear him pronouncing a centimedicine?
So listen, and we were just talking about um spf too that's the funny thing i i don't know who did the branding for trump but if you guys
remember it's spelled different though the staking platform for luna and their dollar
there that's not spf oh yeah That's not SBF.
Oh, yeah, it's not SBF. Yeah, you're right. Sorry.
But anyway, it doesn't matter.
The concept is correct. Oh, okay.
The staking protocol was called
Anchor, A-N-K-R.
And on Trump's, it's called
Anchor and it's spelled properly
A-N-C-O-R.
Who the fuck did the branding for this who and
then both of them had 20 percent uh thinking so like so now you know you got two to three years
before this uh this again breaks up maybe i don't know like it's uh it's a it's a little skittish
that whole thing man 20 yield on the dollar were you skittish on luna because i know
i mean i didn't touch luna i didn't get it i know a lot of i mean well then you're you're part of
the minority because i think you know we we have it on record that there's billions of dollars lost
oh yeah yeah and the dude had to hide a a ledger in his and a hole to get out of the country
yeah man that was a crazy time that those were in.
But I'm telling you, the 20% yield on the dollar is fucking insane.
I mean, I can get 10% yield on USDC.
That's still insane.
Minus 10% inflation.
Bitcoin trying to shake off these jitters from the early, early morning hour red candles.
Hit a two-week low overnight.
What's it currently sitting at?
Still kind of crawling back up, I think.
Yep, it is still around the same price it was when we started.
$113,065. Yeah, $73.
Powell yesterday seemed like he was kind of sideways stepping, backstepping. He definitely
did not want to bring up interest rate cuts or anything like that for
October. It does seem like nothing really has changed because nothing has really changed.
A new support was tested, a possible reversal. We talked about charts bottoming and some curls
and some things set up yesterday. Some of those
continued to move. Let me take a look. The other one I was looking at was Avalanche and
yeah, that one that also just kind of made the handle, kind of like a little baby handle there.
made the handle, kind of like a little baby handle there. Out of the top 20 cryptos, there's still
only two that are green. Avalanche on the seven day. Avalanche, 15% green. Binance, 6.5% green. On the 24-hour numbers,
most of these numbers in the top 20 are red or green
about or less than a half a percent.
Basically, no movement whatsoever.
It will be interesting to see.
Bear is ripping, bro.
Bear is ripping.
Let me take a look.
Oh, well, that's down. Yeah, it is.
But I was just specifically talking
about the bigs and
the very top
and what it kind of looks like
on the seven days. Most of these
look like most of these numbers
have slowed down the red
and they're curling is all.
Do you remember me saying that interest rates
does not mean price go up it actually means price go down even though you guys have been saying like
if they cut interest rates like even though you guys have been saying the opposite and I've been
saying the opposite I'm I'm still on that boat that interest rates go down price go down as well
of everything it's not what people think it is At least there's going to be an immediate crash and then we're going to start.
But, and it's not going to last that long, but still like I'm on the opposite on that
one.
I really think that all of this is really kind of because of interest rates.
I mean, look, look at what Powell did.
Powell pretty much said, fuck your calls yesterday.
No, no, he did.
He did.
And I was going to ask this yesterday but then
you said it's been a good one like because yesterday i was gonna ask if y'all think that
um this lowering of interest rates was gonna uh keep getting priced in a month before uh it
actually happened because i i would have found it weird that he was always priced in
But with this message yesterday, it sounds like like it's not and it just went down and we'll have to wait for it to be
Pricing
No, he did not want he did not want to price in the October cut. Yeah, that's what he made
It was very clear. He did not want to bring it up.
I think that we're priced in for three rate cuts
and he's pretty much...
Because that's pretty much what everybody's been saying.
Three rate cuts before the end of the year
and it doesn't look like it's going to happen
from the way he's talking.
That's kind of what I believe the problem is here.
I think it is.
I think he just doesn't want to price it in a month
before it happens, is what I think.
Yeah, I mean, currently on Polymarket,
83% chance of a 25 BPS decrease in October,
4% chance of a 50.
And it's that picture of Powell holding his glasses and pulling them
down and looking like he's looking at you above his glasses line. That's that picture.
Six months ago, we didn't even have anything priced in. And then we went from four to one
to now three.
I mean, like this is all year.
We haven't had rate cuts, right?
We're the only country, only nation that hasn't done it either.
I mean, France, Germany, UK, all of them started early, early this year.
So more or less, this is everybody's been waiting for this.
That's what they I mean, at least how I see the whole idea of priced in.
I mean, this has been priced in for the last three months.
Yeah, no, I agree.
I agree.
And that's why the markets have kept moving as well.
And I don't think three are priced in. I think two are priced in just based on the odds of the third one coming.
It couldn't, I mean, just obviously the CME odds and all the other stuff is different,
but just on poly market, I mean, 4% as if that is already priced in and a for sure thing,
then that's a killer bet.
Currently 17 million of volume on that spot.
But again, I do think that he was very careful on what he said and i think that
he did not want the market to really heat up right now it was very clear to me the other thing
the other thing i'm sorry but the the he's following the two and the ten bro the two-year
yield and the 10-year yield.
And the yields went up.
And the fact that the yields went up is also why he's trying to watch out with what's going on.
Because he did a rate cut, but for some reason yields went up.
I mean, that's not good.
And they didn't go up a lot, but they went up.
That's just the point.
You know, like, he's, that's, if you look
at whatever the fuck he's looking at, it's
always the two-year yield and the ten-year
yield. That's all that is.
And if those yields don't
start going down, I don't think we're going to
see any rate cuts.
Taking a look
at the DXY currently at
97.87.
Looking pretty strong early this morning. And I was looking at
the long-term holder and short-term holder counts compared to the selling pressure builds.
And there's some new shit you can do.
I don't know.
I've just been testing stuff with AI and technical levels.
And the balance here looks pretty strong for crypto,
which is kind of weird.
Gold's all-time high.
The DXY is...
I'm just curious to see what this setup is going to do.
Because there's still several days left in the month.
And yeah, I mean, the first is a week from today.
I'm curious what the September numbers look like. Anyways, currently the 50-day SMA, in my opinion, is going to be some resistance.
You also have 100 days at some resistance.
That's the 113,382.
The 50-day is like 114,322, something like that.
And then there's the long-term major support at the 200-day SMA around $103,869.
That's these three reasons right there.
is why I don't really see 92K or 95K happening in the near term.
Definitely possible, but just based on a few indicators I've seen.
And looking at the outlook and the resistance, how is it going to go all the way down there?
I don't know. I will feel a lot better about Bitcoin after it gets above $116 or so.
Time will tell, definitely, how some of these are doing.
And to Chief's point, he mentioned Barachain.
Um, he mentioned, uh, Baruchain.
There are in the middle and bottom of the top 100.
There are some, some smaller, you know, not smaller, but midsize coins that are cooking,
starting to cook.
I mean, what was this Aster number?
I was trying to look at the 24 hour number.
Cause I know it had gone down a lot,
a decent amount since I looked at it earlier.
It's at 16.74% up since this time yesterday, currently at $2.28.
And yeah, 2,600% in a week.
It was $1.30 two days ago.
Yeah.
Yeah. Yeah.
Yeah, I actually had a buddy reach out to me at a dollar.
It was like $1.30 or something like $1.40.
And he asked me if it was too late.
Some people think, you know, they're like, it's too late.
And I guess you could think it's too late.
But currently, it's at a $3.7 billion market cap.
I bought it on the 19th thinking it was too late.
And I'm on my way to the Ferrari dealership right now.
Right.
Yeah.
That's crazy.
That's what I bought on the 19th.
Dude, what color Ferrari are you getting?
Was that the day I talked about it?
I don't remember. That was the day. That was the day. The first time I heard about it was. That was the day i talked about it i don't that was legit there was the
first time i heard about it that was the day i talked about last friday yep that's when i bought
mine too yep yeah i heard one of the i don't want to like he's a good dude but i don't i just feel
like i don't want to show other people's faces in your space but it's another streamer and he was
talking about it and he's not like he's he's one of the few actually good streamers like he's not trying to rip people off
he doesn't fucking chill anything he's whatever
I think I know who you're talking about
I don't know
he's about to be a lawyer
in real life so that's enough of a hint
you're talking about the young kid
right? yeah yeah young dude
sung glasses yesterday
and he had a green
Lambo
he plays the guitar that's
that's that's rasmer no i'm not talking about this is kid rock man i know y'all were talking about
i was about to say i don't like rasmer like i'm not a not a fan it's not it's not rasmer no but uh
but yeah that was like the first like i'd been like you know how it is like like i have a real
job so i have to like work during the day and i'll you know i'll check twitter at lunch here and there and i just kept
seeing astro pop up this is on the first day right and i was like i should probably look into
this and he streamed that night and he was sort of going more into depth and i was like i should
buy this and i was looking at the charts and i'm like this seems like like this seems like a good
time for a dip and i'm like i'm just gonna wait and then i get like bullied into buying it by a couple of online friends and yeah it turned out great actually
yeah it's good to get bullied every once in a while if it's for the right stuff
yeah i thought 25 cents was too high
foolish me yep yep
yeah I'm definitely
excited about this one
there's one more thing I wanted to mention about
because we were talking about it before
and I don't want to forget
did you guys hear about what the Russian dude said over the weekend
about Trump and the
which Russian dude
I don't remember
he's like the finance minister in Russia
oh I'm imagining
what he could look like but i don't know i didn't hear you know i could imagine like he's he looks
like a short fat dude but he's not he's actually a decent looking dude but anyway no i was imagining
like like an arm wrestling champion maybe like somebody Yeah, it's probably something like that
that can arm wrestle. But here, hold on.
Let me tell you what he said. Hold on.
He said that
Trump is trying to change
policies in the United States
so that they can
dump all of
the dollars' debt,
dump all of the United States' debt
onto stable coins
that's what he said that's kind of the other thing that's going on with yields
i don't know how that works though you know i mean like just because you convert it to digital
the debt doesn't go away you know the digital representation of the debt no yeah but what it is
is all right so if anything that's worse because it's like a hundred percent accurate
Yeah, no, it's like it's an accurate. No, no, it's a hundred percent accurate what he said
I'll explain why oh that just means that the more
Stable coins that get printed
It's just more bonds that have to get behind them, you know, so
It's they're pretty that's pretty much what they're doing they're getting
people to buy us debt through stable coins that's that's oh wait yeah so yeah so i'm sure you guys
have talked about this already but it's related it has nothing sorry i'll let you finish and then i
was gonna um well the usdt thing where they're they're they're looking for investors. They're looking for a valuation of $500 billion.
All right.
All right.
Here, let me give you a crazy statistic.
USDT is the number 12 holder in the world of U.S. bonds.
So that's not too far-fetched, like $500 billion. I think it's less about debt and what we owe and more about the fees on U.S. merchants and how they're going to 3.5% per transaction. These companies are literally just
soaking it up. And they're looking at this like, damn, stablecoins offer a cheaper,
faster settlement, programmable rewards. Holy shit, it's even cross-border efficient and so now they're in a
race to set up and see who can build the nicest little shit car that's gonna go down the hill
you know how they give everybody like 20 bucks to build a car and they go down the hill and they
see who can make it yeah well they're all in a race right now.
Dude, have you ever looked?
This is a complete tangent, but that sport, what you're talking about, it's crazy advanced now.
Like, those things go like... Oh, yeah, dude.
You can make badass cars.
Yeah.
I wanted to make one.
What are they called?
Crazy, dude.
I think they're called like gravity racers or something like that.
Or box racers, maybe.
I can't remember.
Yeah, I don't know what it's called, but it's not either of those.
But yeah, $100 billion annually in fees currently.
The credit cards.
And the thing about the debt, too, right?
I mean, you're realizing that no one's buying 30-year bonds.
They're changing that up.
They're doing 10-year bonds, etc.
I mean, you got Brick saying that they don't want U.S. debt anymore.
Yeah, for sure.
I agree with you.
That's what I'm trying to tell them.
Yeah, so I think that the issue with that is, is like, I mean, people are getting to the point where, yeah, you can have all this debt as quote-unquote credit or owed or bonds for debt, right?
But what you are getting repaid in is continuously losing value year after year, quarter after quarter, right?
This year is the worst for the dollar in the last decade.
And so it doesn't matter what you restructure these debts to.
And so it doesn't matter what you restructure these debts to.
At the end of the day, if you're paying me in Chuck E. Cheese bucks, it doesn't matter if you give me 10 Chuck E. Cheese bucks or 15.
Right. I mean, because at the end, it doesn't matter.
Right. You're getting paid in nothing.
And so buying more debt to get paid at nothing means absolutely, well, basically nothing. And so now you're seeing companies starting to try to hedge the fact that they have all this debt
with at least something on the balance sheet that'll go up, right?
And so I think that that's also the paradigm shift that we're seeing now is that,
okay, cool, we have all this debt, we can keep buying it.
But every time we get the debt repaid, it's just with money that they print anyway.
So what's the point?
It was so annoying that they finally figured out our Ponzi. we had such a good ponzi going for fucking so long man
no this is still gonna be gone though that's the thing like the whole the whole thing behind it is
and what people don't don't know i don't i i don't know if you guys deal with anybody internationally
but like most of the people that i've dealt with internationally hold their wealth in dollars
they don't hold it in their local currency you know so like there's still going to be a huge
demand depending on what's going to be going on like politically worldwide there's still going to
be a huge demand because they're they're like trained to fold their wealth in dollars in a lot of countries, believe it or not.
Well, if you're like me and you missed out on the USDC brain dead easy six X, just don't miss out on USDT.
I'm full fucking porting that thing if I can get if I can.
Why not USD one?
Or plasma.
USD one is Trump's stable coin, by the way.
You know why, man.
You know perfectly why.
They're offering 20% yield, by the way, also, on the stablecoin.
Red flag.
Yeah, I know.
Yeah, that's a red flag to me as well.
I just finished telling them that before, but I'm just throwing it at you.
I will say this like i don't
know what the terms are on it but it's like they would have it funded for if it's going to fail
it at least won't fail quickly so like if you wanted like a probably pretty safe quick 20
but again i don't know what the terms are then it's probably fine for that
currently that number i talked about a second ago I was looking into it just a little bit more.
35% of every transaction in 2024 was done with a credit card.
5.51 trillion in purchase volume with these credit cards.
That's a lot of money.
The settlement for the credit cards,
which also just kicks cash flow right in the nuts,
is one to three business days.
Stablecoins and what they're trying to build
fixes this whole issue
I think
we're going to see
a massive player
just like Skody brought up
there's going to be a few
of these that
massively cook
I don't even know how you can offer
somebody 20%
and say you're going to get that
To me that scares the shit out of me
If you say 10 or 12
I feel a little bit better
They're trying to hold
They just want people to put money in
Exactly
And use it
Again I haven't looked at the terms
But if the terms are short and reasonable
It's probably an extremely safe 20%.
I just wouldn't stay there.
No, the reason why I brought it up earlier was because of their branding.
The staking protocol is Anchor, but that's the same staking protocol that gave 20% in Luna on the Luna stablecoin.
Right?
Yeah, so it's like
Who does the branding for this shit?
Dude, Doc Hollywood, you guys talking about protocol
No, we haven't making VCR style bet against this USD one thing
Are y'all getting that RLUSD, them Ripple dollars?
Oh, my God.
You know what?
Yeah.
That might be a good one because there's just so many boomers.
Right.
They're still stuck on the whole thing where the Fed's going to be using XRP.
And they don't see the example of USDCC where they have the right blockchain.
Which makes my point, Nico.
This is a great point because does it matter what it actually is?
Or does it matter what you think it is?
Whenever it ever comes out, the speculation is never right.
It's always too much or too little. I never thought thatp was gonna was gonna be the feds settlement layer
and right like right in a million years xrp is like shallow how you know yeah it's that real
that can save the dollar that's what i was told by by you know there's a few hundred thousand people
that look at xrp and they're like, dang, look at that ass.
So, I almost got fucking lynched
at a barbecue.
I'm never invited to this barbecue anymore.
Oh, yeah, that's crazy.
Is that an XRP barbecue?
Yeah, pretty much. I didn't know it was an XRP barbecue.
But, like, look,
I didn't, like,
I sat there telling them
XRP doesn't do anything they shouldn't they're telling
me it's the settlement layer because it's going to be the settlement layer for the fed and all
this and i'm like guys like it's not gonna do anything like it's not that's not what it's for
don't buy it like it's everybody's just dumping it whoever owns and dumps it like the the big
players and and the whole thing with Ripple being a software company,
that's just like, it's such bullshit.
It is.
It's like the biggest bullshit thing I've ever heard in my life.
Because nobody does it.
Don't waste your energy on trying to explain it to them.
Yeah, that's true.
Let's see.
One of the things, too.
I'm not invited back to this barbecue anymore because they were pissed at me
because I said to tell them.
Some people had a lot of money in the fucking token.
But why is 20%
not possible or feasible?
Let me guess,
they were eating T-bone steaks
and tomahawks
and all that shit that has big bones.
They pay for bones and not the meat.
Bro, how much money do you think they're making on the flip side with your deposits?
You don't think they're making more than 20% on your money?
They're trying to grow liquidity and have the numbers that show like,
hey, we did this much liquidity in this amount of time.
It's just like a special at a restaurant trying to get people to come in
before 4 p.m.
You know,
they get all the old people to show up early and eat and eat six ounce
sirloins and shit.
Well,
this is the same thing.
It's literally the same thing.
One of the biggest shifts that I think that,
I mean,
I don't know if a lot of people realize that is actually happening is when
you go into these stable coins,
right?
So now you're going and playing with real money, right? We're straying away from this idea of fake and credit systems.
Even these credit cards that you get that are crypto credit cards, you have to have money in
your account to begin with. So now it's a secured credit card. It's no longer me playing with
Citibank or Capital One's money because now in order for me to use the credit card. It's no longer me playing with Citibank or Capital One's money because now
in order for me to use the credit card, let's just say Coinbase, the Amex through Coinbase,
I have to have 100K, 50K in there to qualify for anything. So slowly we're shifting away from the
ability of using corporation money to go out and leverage credit and leverage this fucked off system that we have
into one for one. And how much stable coin do you have pre-deposit at first, and then you can access
your credit card. So these are no longer going to be credit cards of playing with other people's
money. These are going to be you utilizing your money with a reward system, just like a debit
card or anything like that. So if you talk about long-term, what's the end goal? It's that. It's for you to stop using my play money, right? And
now you utilize your money. And if you don't have money to put in your account, then you cannot
utilize that credit line anymore. And it's limited based off of your deposit. So the same way that
they do secure credit cards today, that's all these credit cards in these crypto credit cards are right so this is all once again if you are in the business
of leveraging other people's money for yourself right because ultimately people fight for their
money harder than they'll fight for you this is a gonna change that entire game up and you're
starting to already see it with the coinbase card you see with the gemini card and that's ultimately
the end goal for all of these companies that That's why they offer stable coins. Then they'll allow you
to use your stable coins in this idea of credit that we have in America. I mean, it's going to
vanish. Yeah, I think that's the pitch too, that these stable coins are doing to their investors.
That's their whole pitch that they're,
that's what they're saying.
They're like a hundred billion in fees annually.
These guys made last year.
All we need is 1% of this or 3% of this.
And we'll make this much money.
And then they're just all just going out and just saying the same thing you know and
pop quiz guys pop quiz how much reserved banks need to keep on their balance sheet when you give
them their money five percent well it's a little bit higher ten percent yeah so so what does that
mean so that means a traditional bank then can take, if you give them $100, they can take 90 of it, of your money.
And they get to leverage that as money that they then go and spend and invest and do whatever.
They only keep $10 of yours actually in their custody.
Everything else is on trust me, bro systems.
Everything else is on Trust Me Bro systems.
Okay.
So the idea, and that's just traditional web to, you know, financial infrastructure, right?
Like, so the idea of being able to make 20% on deposits, that's why I was kind of offering that question earlier.
Like that's a fucking easy hurdle, right?
Like that's light work.
And that doesn't even include some of the more
interesting features of defy infrastructure with liquidity pool finance light work but the last
guy to do it literally rug billions of dollars i don't care about the last guy to do it i care
about your fucking couch that you're sleeping on but what i'm telling you is that in the real
financial markets where people actually nobody gets 20 go to work every day, the banks
get way more than 20%.
They actually get fucking banks.
Congratulations.
And they're also forced to pay the man,
bro. They have huge insurance.
I seriously say that.
Like massive insurance.
We're in crypto, bro.
I get it, bro.
They don't even have your money there.
You can't get your money.
We know.
I can't pull 10K out.
We know.
All right.
So hold on, guys.
Can I finish?
You got it, Nico.
You're going to finish it for me.
I'll finish it for you.
You're going to spend all time with the bankers or what?
I'll finish it for you.
I got you.
Go ahead, Nico.
No, because what I was going to say.
Did he cut out?
It said everybody was muted.
That's what happens when you try to bring somebody in.
It doesn't have a fuck.
Shut up.
Crimes of the alpha hoe.
Shut up, though.
All right.
That's exciting.
What do y'all
got? You can go first, Nico, then Sandman.
all right. What I was going to say is we got
two scenarios that's going to happen here, but
this one thing is
going to happen with both scenarios.
I honestly think that this whole stablecoin thing is more about control.
I know you guys think that you wholeheartedly believe that it's decentralized,
but most of the stablecoins are not, especially USDC and quite a few other ones uh and usdt so that's definitely happening
now i don't i'm not sure who said it because fucking twitter is bugging out about how it's
going to change the whole credit thing i i'm i'm not sure i'm on that boat but i do i do think we
are going to go that way but i i'm also a little bit on the fence where it might end up blowing up this entire credit system that we already have, meaning it's going to get much, much bigger the way we already have it.
So like everybody's using debit cards, the whole thing about like Visa, American Express and all that is that they're still selling the processing payment. For some reason, I feel like this is going to get
what's convoluted in some way sooner or later.
And it might end up making the system much bigger
than what it already is.
That's kind of my fear with this whole stablecoin thing.
All right.
Well, at least it's backed by something,
and they can get very creative with rewards and the structure.
And the credit card companies already do this stuff,
but at a very small scale.
I mean, we're talking a few percent here and there.
I mean, we're talking a few percent here and there.
If you spend a shit ton of money, you get a little bit more.
But for the most part, it's only a couple percent here and there
being given back to the actual users.
So stuff like this just makes the market more competitive, which is good.
Go ahead, Sam.
You think that's because what they can afford or that's because that's what the market?
No, that's what they have.
They don't have to give anymore.
There wasn't better competition.
Now they're going to have to, man.
This makes all the credit card companies.
They're going to get competitive.
They're going to have to start giving better rewards.
They're going to have to start giving people bigger lives it's good for the market yeah that's out of the bag you know
they were making 10x on your money and nobody knew so nobody fucking did anything about it
yeah but the thing about that's that man they're banking most of the time but most of the time when
they used your money it was like a 24-hour finality right uh they would
use it they would apply it by a different they would almost do forex right which is what most
banks do with investment and then within it's somewhere accounted for on a balance sheet so
it's not like it's absent or in investments for too much longer than a set period of time
right so that's the biggest difference too is is that yes, they can. And yes,
they use the 90% of your money, but it's not like they put your 90% away and yield farm it for the
next six months. Well, they have to have access to liquidity anytime you need it. And so they have
to be able to guarantee that. That's why you have insurance to create runs on the bank.
Yeah. So it's typically almost like Forex, right? bank date closes they'll go grab hey we have x amount of money to use and then we have this amount of time before
the bank opens and the balance sheets have to be rebalanced again so someone sits there right you
can see like their margin like their margin book on their fucking purse fucking book right like it's
the same thing they just have a bag of liquidity there. And as long as it hits 10% of what everyone's given them. So I don't think it's a one-to-one thing. These crypto credit
cards and such, they're going to be able to create models that actually pay users to use them.
It's going to go the other way. These 6% figures were, there was a lot more meat on the bone.
Nobody knew it. And now DeFi is going to expose that the more that people can go to private peer-to-peer banking and they know that and that's why they want all of their
t-bills back in our usdc fucking stable coins and shit coins because the actual banks don't want to
buy that shit anymore and so they need somebody to buy their bags i guess most of the big
institutional guys are going private credit private banking like they're not they're pulling their shit out of jp morgan's and such like it's a major issue if
anyone is like really tapped in on that side of it these guys are scrambling for deposits
like the fucking gigs up is the point right but the whole thing that like what you're saying and
nobody knew what they're like people already knew that they were making a lot of money it's the way the banks make money first of all it's from compounded
interest that they charge everybody from their loans you know so like it doesn't show it like
it doesn't immediately show that they made a 4x or a 10x or even a fucking 20x or 100x but
over time meaning 10 years of collecting compounded interest from
i don't know like let's just say 100 million dollars off of one branch one branch's loans
100 million dollars in uh loans that that's a big chunk of the change at like four and a half percent
or five percent whatever the they gave the loan out for you know so the the reason that like it's tricky it seems
like it's a safe way to do it because they're making money over years but the reason why it's
uh it's it's a little messed up is because if everybody goes and tries to pull their money out
at the same time which even crypto is at that crypto is in the same problem too.
So nothing really got solved here.
It's just more open with crypto.
That's it.
Well, that's not true.
That's exactly what got solved is now you have 24-hour high-frequency trading.
You have everything under the planet, which can be tokenized, bought, and sold.
And you're transitioning to a broker-based economy where the value of owning something
is not being able to produce it.
It's being able to own it and sell it, which are two very different things fundamentally.
Great.
We're going to regulate everything, structure it a little bit better, and we're going to
be left with the same thing we had before.
That's right.
At 100%, just structured in a different way.
There is not going
to be any innovation nothing new yeah but what i'm and that's what's gonna happen if there's a bank
run crypto is in the same boat like it's just it's weird because you could there could be a situation
like that's why i'm also vehemently the cash has to be a thing like uh it's not is it in the same boat
part of the issue with the bank run is its centralization dude all of these stable coins
a lot the only thing that's decentralized is uh bitcoin everything else is whatever i know i get
it so but we have our volatility because of lack of liquidity, not because of, you know, fundamental structure of how like the protocols work.
If you put liquidity into the protocols, even a fraction, let's say you put the same liquidity into this structure of technology versus the old structure.
The banks would have better leverage.
And to Tom's point, they'll probably end up finding ways to corner it and regulate that shit into their own, you know, stable coins and their own fucking deck swaps.
And, you know, you got to go out and have a FINRA registered broker dealer to be able
to have, you know, a fucking Jupiter tool and launch that versus just being able to
drink some Mountain Dews with the homies and do it on a Saturday.
That's what they're going to do.
Code red in the house.
That's right.
The difference is just like Bitcoin, it gets to a critical mass where they can't control it in the same that's right the difference is just like bitcoin it gets to a critical mass where they
can't control it in the same way right that's the benefit and beauty of the decentralization behind
it and that's why it's the future of finance really for people that actually want to see the
light um but it's not because of whatever fucking shenanigans people have done in the past been
there done that whatever that's completely irrelevant what's really important is where
people are going to take this going forward.
And I think clearly what they're showing and writing is on the wall for
is that this is going to be the new toolbox that the government starts using.
And that's going to not only just be financials,
but identity and all sorts of interesting things.
So, yeah, this is bigger than that.
No, it's a great discussion, dude.
Great discussion.
I do want to get into real quick, something for y'all to think about just until tomorrow.
Um, just a little pattern.
So small innovator creates a new model.
Okay.
Explodes in growth, new customers, new model, new deal, new situation.
Bigger player comes in, copies and leverages scale and distribution.
The pioneer usually will, within a few years, get acquired, or they're just basically minimized to just a little area in the space.
Currently, we've talked about this over the last month, at least, Hyperliquid sitting at 15.1 billion market cap what's the odds that
binance is buying them for 4.5 billion next year
oh that's a good question what's the market what was the discount you said did i miss that it's
75 to lower 75 lower than where it is currently right now i want to give
you all a few um just in real life comparisons here um snapchat versus instagram snapchat's
short-lived the instagram stole the story idea and quickly just stole all the market share back from Snapchat. We had GoPro. GoPro dominated
the action camera niche, right? It was huge. It was worth over $10 billion, maybe $10.5 billion
or something like that. Well, Apple, Samsung came out. They added those camera features, the slow motion stuff. And then all of a sudden,
GoPro flatlined. I mean, crumbs, crumbs. We had Fitbit. Fitbit came out, quickly scaled.
Four billion evaluation. I think that was 2015. It was four or five billion evaluation, 2015.
2015, maybe five, it was four or five billion evaluation, 2015.
It was definitely the market leader.
Apple comes in.
Apple was already in the industry, obviously.
The Apple Watch comes.
And guess what?
Google buys Fitbit for 2.1 billion in 2019.
2.1 billion in 2019.
Hmm.
Now let's take it to just a comparison crypto specifically.
Let's talk about Uniswap versus Coinbase.
Both of those being Binance Dex clones for sure.
Uniswap was the first, I mean, automated market maker.
First AMM, right?
I mean, exploded.
This is 2020, 2021.
Do you know what Binance did?
I don't have to say it.
PancakeSwap.
That's what happened.
And PancakeSwap came in and just absolutely just crushed.
My point is, is Astra just came in.
This is the first of a couple handfuls of competitors.
The market's thirsty for new growth, new money.
Everybody is lighter on their feet, move faster.
They don't sit in stuff for three or four or five
six seven months they move everybody has made that point some way or the other in this show
a few different people have it was a good one appreciate everybody that likes and shares the
show we are always here monday through friday at 9 a.m eastern time appreciate you nico and
sandman and everybody chief for coming up, dude.
All the people that always come up.
Liz, it was good to see you, even though you really
didn't say shit. There are other shows
to listen to, other places to listen to shows.
Thank you for choosing Good Day Bitcoin.
Good luck to us. Good luck to y'all.
Have a good day, and we'll
see you in 22 hours and
58 minutes. Thank you.
HODL!
