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Given Sam's history of masking his appearance and being very cold and calculating about his publicity, I could definitely take the argument. Maybe I would lean to the argument that this is also part of his plan, that this is also very much calculated. And he's using this kind of childish, I was too young, got caught up in things. I'm learning my lesson.

Listen, I'm sorry.

But that can't work, right?

No. Absolutely. No, because

He stole 16 billion.

he stole sixteen billion dollars.

Bankless Nation, happy first Friday of December. David, hard to believe. We're in the 12th month of the year, and I just want this year the best month. Is it Christmas?

December is the best month of the year.

Oh, your birthday. I knew this.

Oh no, I'm not gonna be that that narcissistic about it. I mean, it's a contributing factor, but perhaps, yeah.

I didn't mean to imply. Yes. Uh of course. I'm sure you think Christmas and the holidays and spending time with loved ones.

Yeah.

Nothing to do with your birthday.

Right. Well, I mean, it's just one of many nice things about December. Yeah.

Well, I I'm glad for this year to be over in crypto.

I want to put this behind us.

Also, I'm claiming that it's gonna be a bullish month. Prices will be up in 30 days.

Do you remember um I think depth of the bear market was like December 2018? Was it 2019? Last time?

Do yeah, uh huh. Right at the end of the year. Yeah.

But you don't think you already think we've bottomed.

I I think so, yeah.

What? Alright, we're gonna talk about that. A few things to talk about this week. Number one, SPF, he's giving interviews now.

What the hell

All right. Against legal advice. I can't imagine these lawyers are very happy about this. And

is going on a tour, dude? Why the SBF redemption tour, the redemption arc has already started. But before we get to all of that mess, we gotta talk about all the bottom signals and why I think it's gonna be a bullish month. Uh, because bottom signals, Ryan, are abound. Uh, and there's also some bullish signals. The Ethereum ecosystem is winning some key infrastructure from other chains. Also, layer two ecosystem metrics are at all time highs. But there's one big announcement, Ryan, that I know you're super excited for.

I'm super excited.

Do you want to tease it or do you just

This could be the biggest bottom signal at all. Maybe I'll just say it

hopefully

and we'll tease it. Okay. We acquired a company.

What?

We can

Like for real this time. This is not a Wells Fargo prank. This is not, you know, us putting our uh bankless name on the Philadelphia Flyers uh stadium. This is real. We really did this. The podcast. And I'm super excited. The podcast did this. Uh seriously, guys, this is a new tool for the bankless nation. We want to tell you all about it. Uh so we'll get to all of these topics. All right, guys, let's talk about Bitcoin. Is it falling on its face? Did it just fall off a scooter or is it doing okay this week? Up or down?

this Can we forget about the scooter?

No, I'm not doing it.

Uh Bitcoin is up two and a half percent this week, so it stayed on the scooter.

Happy Music.

Yeah, it starts started the week at sixteen sixteen thousand five hundred dollars, ending the week at seventeen thousand dollars, up two and a half percent. Nice job, Bitcoin.

Motorized scooter? It's like a mote scooter.

God damn it. Uh Ether is up six percent on the week. Started the week at twelve hundred dollars, ending the week at twelve hundred seventy five dollars. Six percent.

You know what? David's so tempted to call the bottom. He's so tempted right now to be like, Ryan, we're never going to triple digits. And the last seven days proves it, aren't you? I'm just reading your mind right now.

God, I would love to be able to call the fact that we're not going back to triple digits. Uh I don't have I don't have complete confidence. Well, like it's gonna be a long 2023 and it's gonna be crabbish. Um like yeah, I don't know.

You know, okay.

And it feels good, man.

I don't I don't we we actually didn't include this in the agenda because it was just a a thing. But uh Powell had a meeting this week and he was super dovish meeting uh on interest rates, just like giving very warm signals that like we'd reach the top as as far as interest rates, and stocks really popped after that. And I think crypto's up as a result of that too. So um that could be playing in anyway. We'll talk about that in future weeks on the Fed Watch. But tell us about the ratio up or down ETH.

ETH Bitcoin ratio up 3.7%. We are currently at point zero seven five three.

Nice.

This ratio's holding strong. In fact, it's like

It's doing

overachieving.

it's doing great.

Is that why so many angry Bitcoin maximalists are in my mentions these days? Um

it gets worse when the ratio's up. Believe me. I think there's a correlation. Uh let's talk about total crypto market cap. Where are we? Under a trillion still?

Yeah, still under a trillion. We're at uh eight hundred and ninety billion dollars. We gained twenty billion dollars in market cap on the week.

Okay. Not a bad gain. Uh bottom signals. Yep.

Yeah, we got some bottom signals.

Okay, what are the bottom signals?

Uh so uh one of the big bottom signals is going on is just the absolute wreckage that is happening happening in the Bitcoin miner world, which sounds bad, which sounds bearish, but that's why it's a bottom signal. This has always marked uh close to or the bottom in previous cycles where Bitcoin miners are not profitable. They are

They go bankrupt, don't they?

Many of them do, yeah. So an Antminer 19, which is one of the most recent miners, uh Bitcoin ASIC units, uh more one of the more recent ones, is now a negative unit at the average United States industrial electricity price. So if you have a if you have a one of the more modern uh Bitcoin miners and you have average uh American US industrial electricity, you are not making money as a Bitcoin miner.