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ADA Makes The Grade (Smart Contracts For 3rd Largest Cryptocurrency) - YouTube
Channel: BitBoy Crypto
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in my formative years i remember being
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nervous and having butterflies in my
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tummy before my first day of school i'd
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ask myself
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who's my teacher going to be
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will i have any friends in my class
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how much homework am i going to have to
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do
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these questions always seem to work
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themselves out in due time
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but the uncertainty is what bothered me
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the most
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this is what cardano must be feeling at
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the moment while smart contracts are
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rolling out
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it's a formative time for the third
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largest crypto out there
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many traders expected to roll out of
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smart contracts to be a catalyst to
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immediately take cardano to new higher
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all-time highs but not so fast there's
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still a lot of work yet to be done let's
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get it
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welcome to bitboy crypto home of the bit
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squad the largest crypto community in
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all the interwebs my name is ben
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everyday on this channel i show you how
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to make money in crypto if you like
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money and crypto then make sure to hit
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that subscribe button in this video
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we'll discuss recent cardano news
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including the rollout of the final stage
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of the alonzo hard fork new cardo nfts
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staking and how the introduction of
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smart contracts to the vast cardinal
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ecosystem will ultimately propel ada
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into uncharted territory
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200 years after british mathematician
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ada lovelace was born
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cardano was founded in 2015 by charles
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hoskinson and jeremy wood a product of
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the iohk research and development
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company it was later launched two years
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later in 2017. rather than having a
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white paper cardona is the first
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blockchain platform to evolve out of a
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scientific philosophy and research first
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approach
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this peer review system implements
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design principles to overcome issues
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such as scalability interoperability and
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regulatory compliance this progress did
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not happen overnight
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learning from the mistakes of its
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competitors ada started off using proof
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of stake consensus rather than the
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energy-intensive proof of work
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charles hoskinson claims cardano uses
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just six gigawatt hours of energy
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annually not even 0.01 percent of the
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115.85 terawatt hours bitcoin's
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estimated to use
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the groundwork leading up to the alonzo
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hard fork started with the byron reboot
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in march of 2020. this reboot laid the
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foundations or the network by providing
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a robust and scalable code base to build
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on
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a few months later in july of 2020 the
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shelly update shifted cardano from a
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federated model toward a decentralized
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one on january 1st 2021 cardano is
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valued at about 18 cents
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one thousand dollar investment on that
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day would be worth thirteen thousand
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four hundred and fifty dollars today
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since the end of march 2021 a
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decentralized network from a community
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of 2868 staking pools has reduced every
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card on a block according to statistics
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from the cardano data aggregation tool
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pooltool.io there are currently 831 000
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wallets currently taking ada that's a 35
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increase since june over 71 of the
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entire ada supply is currently being
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staked valued at about 60 billion
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dollars
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now if you want to take your ada with
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the only bitboy approved sticking pool
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click the link in the description to
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find instructions on how to put your ada
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in the bitpool
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following the shelley update came the
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mary hard fork part of the gogan rollout
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this brought new features and
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functionality through the availability
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of native tokens in the multi-asset
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ledger this also allowed nfts to be
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minted without smart contracts
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all these previous updates laid the
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groundwork for the alonzo hardport this
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most recent update was also named after
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a mathematician and american pioneer
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alonzo church
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over the past few months alonso rolled
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out in several phases blue white purple
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red black staging and finally the main
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net just rolled out on september 12th
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this marks the completion of the alonzo
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hard fork and signifies the end of the
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gogan era
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this enables smart contracts to be
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written for cardano using plutus scripts
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plutus is built on the functional
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programming language haskell and
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introduces the extended portion of
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cardano's extended unspit transaction
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output or eu txo framework
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these smart contracts allow developers
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to build device apps that enable the
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lending borrowing and trading of assets
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without the help of centralized
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intermediaries such as banks now using
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the plutus script token factory
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developers can now create nfts
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these first non-fungible tokens made
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with this new feature named kevin
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charles and tim
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were created immediately after
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activating the functionality of these
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smart contracts
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other notable nfts on release cardano
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include zombit cyber kicks space buds
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and claymates
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for a list of more card on infts check
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out
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cardonia.com and also if you guys want
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to check out a cool project where you
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can mint your own nfts that's currently
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in beta make sure to check out ada
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tokenizer dot io you guys can check out
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crypto crow's channel on youtube for an
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explanation of how to use it but my
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favorite of the new batch of cardone
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ft's has to be claymates reminiscent of
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mtv celebrity death match this set of 10
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000 handmade algorithmically assembled
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characters are the first stop motion in
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fts on cardano claymates also donated
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six thousand dollars to endo found a
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foundation that provides support to
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those living with endometriosis who've
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done vital research into the illness
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while raising awareness but here's a pop
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quiz how many daps are available on
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cardano if you can't think of any then
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you may want to just be working for
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decrypt who put out an article the other
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day asking if cardano had any dapps
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ready to use smart contracts
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charles was incredulous and the
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cardinians on twitter quickly put
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together this detailed report card of
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the entire cardano ecosystem
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this list is impressive and shows that
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cardano isn't just an nft platform it's
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a full suite of blockchain technology
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that's ready to disrupt many industries
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but charles and iohk know that while
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this is a big step for cardano all
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crypto is still niche it's that weird
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kid in the computer science lab who
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swears he can hack the cia crypto needs
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its wi-fi moment the thing that made the
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internet usable for the masses and sped
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up adoption
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charles sees a future where cryptos are
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seen less like brands and more like a
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wi-fi router in an interview a business
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insider charles looks into the future
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you're not asking is this a samsung
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router is this an apple router my hope
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is that's what's going to happen in the
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industry where cardano is infrastructure
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ethereum is infrastructure bitcoin is
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infrastructure charles sees a more
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consumer-friendly crypto future that
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just works
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which is part of why he and iohk have
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adopted this scientific approach to
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development instead of the ethereum's
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move fast and break things mantra taken
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from silicon valley
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before class is dismissed i want to take
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a moment to get real with all the
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members of the ada gang if you truly
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believe in cardano and this ever growing
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ecosystem
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it's important that we remain patient
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and not let the fud get into our heads
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like we've said for months on this
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channel don't sell your bitcoin don't
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sell your ethereum don't sell your
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cardano and don't sell your xrp stand by
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that statement today you can only lose
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if you sell the bottom avoid selling the
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bottom by staying up to date with the
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latest crypto news by smashing that like
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and subscribe button on this video but
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when these shakeouts keep happening over
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and over understand the institutions and
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the financial cartels are intentionally
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suppressing the prices to get you out
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before the bigger pumps
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they want you to sell i know that
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countless traders believe that the price
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of eta was going to spike upwards on
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september 12th after the rollout of the
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alonzo main net you probably already
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know this did not happen in fact we've
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seen a pullback since then but it's okay
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charts go up and down every day this is
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healthy market activity focus less on
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the daily and hourly charts and more on
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the big picture
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this is only the beginning for cardano
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don't give in to your emotions in the
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world of training decisions based on
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fear are commonly referred to as
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mistakes
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the most experienced traitors learn to
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counter trade their emotions because
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it's at the bottom of the chart where it
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seems the most miserable and depressing
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that's where you'll find the best
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possible entry just like me waiting for
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the bus nervous before my first day of
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school asking myself all those questions
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sometimes we don't know the answers to
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the questions in the forefront of our
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minds
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in today's digital age instant
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gratification seems to always take
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priority over patience
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but in the world of crypto assets
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patience is the virtue that separates
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the weak hands from the gains that's all
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i got be blessed
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[Music]
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you
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