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all right today in cryptocurrency news hoby the cryptocurrency exchange is kicking out US customers and stellar lumens just destroyed half of the total supply of lumens that exists half are gone all this and more here at ulta coin daily where you subscribe for a video on cryptocurrency every day my name's Austin and like always let's start with Bitcoin I want to turn you on to a podcast which just dropped yesterday 60 minutes of valuable information I'm going to link this entire podcast down in the description and in this episode Plan B himself discusses every single reason why his model Bitcoin stock to flow model could potentially be wrong now just to quickly catch everybody up this model is predicting the price of Bitcoin based on its scarcity and it's been pretty dead-on accurate for the last ten years and this is the model that use in precious metals stock to flow stock being the amount of Bitcoin in this case that we have in existence today to the flow the amount of Bitcoin that will be mined into existence over the next hundred plus years and because bitcoin is a harder money than gold we know the exact flow we know when the Havanese are going to take place and because of that by May 20-22 next having the price a Bitcoin could be should be well let me let them tell you let's call out some of the high-level numbers that you are in some sense predicting or at least the model is predicting let's say so there are a couple different numbers and I believe you've got the 2020 hobbing so approximately may 20 2010 it'll hit exactly that number then but roughly you've got 55,000 for then I think it's roughly 400,000 for the 2024 having and the and then 3 million for 2028 is that a fair summary you would say yeah that's correct and the Wow that's there's pretty hefty pretty exciting predictions but you know this model what you don't know is every reason potentially that planned octa flow model could potentially fail and they go over an hour's worth of arguments why could I want to play you to 92nd clips that I think are pretty insightful now the first is probably one of the biggest knocks against the Bitcoin stock the flow model and it's the one that plan-b himself puts the most credit into which is the price is potentially already priced in check this out one other big critique that might be good to address at this point is the why is it not priced in idea now one suggestion could be that most or everyone who knows about it is already invested as much as they reasonably can but what's your view there yeah if I were to give a Steelman argument against the model and I'm constantly looking for good arguments against the model because that's how I learn and that's how I know I'm investing in the correct way if I were to give a Steelman argument it would be dis argument if the relationship is true and if the information is out there as it is since since March the the or even earlier about the whole things the how things should be priced in in a reasonably efficient market so this would be my ultimate argument against the model and it's it's the one thing I do not understand why it is not priced in - it's not priced in the halflings and it was also nick szabo ultimate argument against the stock to flow model in his tweet last week interesting so the price of Bitcoin could be priced in that's a possibility but let me play the rest of the clip where Plan B argues against that and says well here's probably three reasons why it's not priced in number one the markets are too small slash and efficient number two the information is just not out there or number three number three being the reason and I'm not a financial adviser but number three being the reason that I don't think it is priced in at least for a few more cycles listen to this so for my first reaction would be okay markets are not efficient bitcoin is small with this with it's 150 billion market cap it's small so maybe it's not efficient but on the other hand if you look at currencies and Bitcoin it's very efficient I don't think that's that's the thing the other thing would be okay the information is not out there for everybody for example new investors won't know immediately about the stock to floor model so they don't know about it and data and price it in and maybe some of the current investors don't know yet about the model although the model spreads like wildfire so I think most of the investors right now know but then the the other argument and and that's the simplest argument and I think that's the true one is that there's lots of people that do not believe in the bar in the model in the stock to floor relationship so I put a tweet out yesterday with three well-known Bitcoin people that are against the stock to flow model with good arguments as well I don't think they hold but there are good arguments that you can that you can follow and believe and and then you would you would be against the stock to flow model and not invest so I guess it's it's just a normal market situation where there's not much people that really believe in the model which is very interesting and a nice investment opportunity yeah that's a well for everyone who is a believer I guess that's that's their opportunity let's turn now again very interesting I like that I appreciate that perspective and I agreed that not a lot of people know about this model yet forget about the average person you go into a fund managers office you know regular financial people probably they probably have heard of Bitcoin but I you know how many would know about the stock to flow model time will tell me the last thing I want to leave you with before we get to stellar lumens my main takeaway after listening to all 59 minutes and again this whole episode linked down in the description check it out is the stop the flow model might not be viable forever because bitcoin will be my for the next hundred years but we have a having in May 2020 we've having four years later and four years after that if you're asking plan B personally here's how many cycles how many having's he thinks B stock the flow model will be accurate and then three million four twenty twenty eight is that a fair summary you would say yeah that's correct and because of the tight fit and the cointegration well it's it's at least reasonable to believe that it will hold for for one or two more housings and the numbers you mentioned are absolutely correct right I love it now it might not last forever but a couple more having's in the 2020 into 2028 i think bitcoin is in store for some excitement gonna be a great decade like the video if you want to support me get this information out to as many people as possible but first piece of news stellar lumens will the foundation that that's in control of stellar lumens the cellar foundation just destroyed wiped out forever half of the total supply of the stellar lumen cryptocurrency so if you hold stellar how does this affect you well the stellar Development Foundation has just burned 55 billion of its xlm tokens over half of the cryptocurrency supply CEO Danielle Dickson announced from the stage of the stellar Meriden Meridian conference on Monday so yesterday so the exact specs on this coin now is previously there had been a hundred and five billion xlm coins in existence with only twenty billion in circulating supply with this burn the total supply is now shrunk to fifty billion so if we head on over to coin market cap Stowe women's only refresh just to be sure yes this has not the total supply has not updated yet but 55 billion of these were cut destroyed and now the total supply is closer to 50 billion with the circulating supply still being 20 billion so why did they do it well in a direct quote we didn't start by wanting to burn we started by asking what do we need Dixon told the room of roughly 200 attendees as much as we wanted to use all the lumens that we held it was very hard to get them into the market and if they would have put all of the total supply into the market price would have tanked obviously the price is rising obviously because we cut some of the supply and the demand stayed the same maybe it increased so so the price is currently up but the organization decided instead of holding on to all those lumens instead that was better to project how much the company could actually use over a 10-year period and calibrate to that number in a direct quote to derive a plan from an arbitrary number serves no purpose Dixon said so I don't know if she's saying that the original 105 billion was that an arbitrary number I guess it was and this number didn't changed the circulating supply about 20 billion still stayed the same the total supply cut to 50 billion well how much does the company the stellar foundation how much of this 50 billion do they control now well the foundation and now controls 30 billion xlm they list right here what they plan to use that 30 billion for you know ecosystem support 10 billion to make investments but the supply of xlm is now fixed because the community of token holders voted to discontinue inflation on October 28th so I guess the point is the stellar Development Foundation will not burn any additional lumens now I mean the price is up so I guess everybody that holds stellar thinks this is a good thing I don't even know the potential impact this could have I mean I guess the negative I mean yes the positive is a props up the price the negative is do they think they can reach mass adoption if they're getting rid of half of what they created but who knows I mean this is quite uncalled for when we get new information I will keep you updated the last piece of news Hobie Global to freeze us customer accounts by mid November now specifically if you are on who will be global you have an ear from the US they're freezing these accounts on November 13th and every day before that is a grace period for you to cash out essentially so this is exactly what Finance did Hobie seems to be following finance and also much like finance however Hobie global will not exit the US market altogether but rather nudge its US customers towards its exclusive US strategic partner the San Francisco Bay based H bus which this channel told you about when this launched last year a platform dedicated to serving the us-based customers similar to finance us H bus runs and operates independently from the larger exchange but it's the kid I mean Hobie global would be the parent company I would say and why our exchange is doing this well in the announcement who o be states that the American regulatory environment for crypto currencies has forced it to prohibit us-based users from the platform so stay wary stay woke this channel we'll keep you updated and that is the video for today let me know what you think about any of this feel free to comment like and subscribe and like always I'll see you tomorrow
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