how's it going everyone it's AK..just bought twitter now this is really interesting it affects three different cryptos specifically which is what i want to talk about but i also want to talk about the deal itself and providing a little bit of clarity on what happened we also have the stock market and the crypto market turning around a bit here i want to talk about all this if you gthere are time stamps but first of all look at the crypto market i mean we bounced off this morning and that was one of the lines of support we had seen recently 38000 then after that we had some more support around 36 000 and you could see pretty strong support here jumped off and now we're back over 40000. now whether we hold this or not is up is up in arms right now it's hard to tell it's really gonna depend on what happens in the stock market but speaking of the stock market twitter accepts buyout now i think this is necessary because they got such a good deal he's overpaying so much when you look at what he's paying on a price to earnings basis he's paying 75 price to earnings which is insane compared to about any other stock in the market right now there's no way that twitter would be even close to this unless .because they have their earnings later this week if they know that they're not going to have blowout earnings well the fact is that elon could then sue or the shareholders could sue for not accepting the offer and then the board members that are the ones that don't want to sell because they'll lose their jobs they would also get sued and lose their job so the fact is they really do have to sell so they accepte his offer to buy a social media company and take a profit uh ticket private and this affects a few different cryptos which we'll talk about here in just a moment now before we go any further i want to talk to you about sponsor of the channel peak defy now before i look at a new project really in depth i take a look at a couple different things first of all are they docs do they have their names out there and they do you can see here we even have the linkedin profile with peak defy as a name here also i like to look at their audits so in this audit they found a number of issues this is always the case with newer projects and of the high risk and the medium risk issues they were shown as resolved down here and all of them were acknowledge or resolved at the time of this publishing so i like to see that they're starting to work on some of their more risky parts of their contracts and make sure that they are working towards a better product for us now they have a launch pad a d5 wallet and a d5 fund to be clear i have not tried out their d5 fund but they do say that they can give you a pretty high amount of apy on this so if you guys want me to go in and put some my own money in here let me know they also have a launch pad where you can get ido allocations and they do have their own d5 wallet now they do have a roadmap coming up they're going to launch a decentralized yield fund on the polygon network launch pad integrations launch pad integration to the peak d5 wallet app and continue to launch their own multi-chain nft launch pad platform they're around a 70 million dollar market cap now but have been much higher in the past in case you guys want more information i'll put it underneath the video so thanks to peak d5 and let's get back to it so the first crypto on this list of cryptos that this affects directly is bitcoin.bitcoin specifically is going to be affected because right now musk says you know nfts he doesn't care
he thinks that uh they're spending engineering resources on this bs while crypto spammers are throwing a spambot block party in every thread he thinks they should really focus on something like getting rid of all these spammers now how is he going to do that i'm not exactly sure but michael saylor gave this example for what they could do michael says that they could make these real humans post about 20 worth of sats via the lightning network and get verified with an orange check so it basically costs nothing for the lightning network and then you would need 20 but this allows you to limit the ability of spammers to throw in thousands of bots and basically if bad actors turn up if there are is spam then they lose their twenty dollars and i guarantee you that's past the point where spammers are profitable if they hire hundreds of spam bots to go like something they can't lose all that moner or all that bitcoin so the fact is that would kill a lot of the spammers now the problem is some people would say then it's not really free speech if it's not accessible to everyone but the fact is you wouldn't have this taken away from you you just have to post the 20 up there i think that's accessible to enough people it would also bring in a bunch of people into crypto think about that if everyone had to learn how to buy crypto a lot of people might get interested is what this means what what crypto is there for so a lot of people people that aren't interested in crypto yeah might start buying a little bit of crypto here and there and they might actually start investing heavily in crypto and realize what it is and and then if they get inheritance they might throw some of it into crypto so i think this is almost like a gateway to get more people interested in crypto specifically but also allow them to stop uh this spam botting another crypto that might be uh severely affected is dogecoin
dogecoin is up 16 on the 24 hour with the news of elon musk taking over twitter a lot of people know that he likes dogecoin and think that he might make the twitter bird a dogecoin or something like that so it might change might not it's hard to tell at this point but a lot of people in the dogecoin community are excited about this i'm not going out and buying doge that's much too risky in my opinion to bet what elon musk is going to do with dogecoin on his private company so i'm not going to go out and run out and buy doge but it is affecting doge's price and helping them while the rest of the market is just slightly up they're up 16 another crypto that this is affecting is polygon so polygon recently started working with stripe to help push uh crypto to people on twitter so they're going to be paid or the platform on twitter is now going to be powered by stripe and then use polygon to send usdc to people on twitter and i've talked about this a couple times recently but this is a way that gets usdc in more people's hands because they're going to be paid in it through twitter now this is good news i think because it has finality and it's much quicker than a payment that you would get via your bank account so i like this but i'm not sure if they're going to continue to do this if elon musk buys twitter i don't know if they'll continue to use polygon and have his set up maybe they'll just roll it back and say hey we're not really interested in this elon musk might not be interested in it now i'm not exactly sure i don't know what his relationship looks like with jack mullers but hopefully this continues and this is something that's going to continue to be used via twitter now we don't really know where else this is going we don't know what it's going to be affected via the crypto market through this twitter acquisition it's not like this is directly correlated t crypto like elon musk kind of dabbles around and he owns ethereum he owns bitcoin he owed some dogecoin uh maybe a little shiba inu i can't remember if he has that but i don't think he does but i don't think he's going to make huge changes to implement crypto unless it's the things that we talked about today i think these are the three things that really could be affected whether it's the spambotters or dogecoin or polygon i think those are the three cryptos that are going to be most affected and the people that own twitter stock i'm not trying to go out and buy twitter it's around 52 now so there's about four percent upside but you have to keep in mind if this were rejected or elon says hey i don't really want to buy it or this falls out then it's probably going to fall back down to 30 35 like the rest of the stock market has been falling as well because it is artificially high right now because people are going to be bought out at 54.20
well let me know your thoughts on this underneath in the blog
i'll see in the next one bye