 All right, everybody. Welcome to the show. There is a lot of things to go over. So let's just jump right into it. First of all, thanks for stopping by. I do appreciate it. What we're going to talk about is there was a snippet, a piece from Jerome Powell, Fed Reserve Chair. And this is Jerome here. He is speaking at the Economic Club of New York. And this was actually an hour long piece. There's been different sections that have been cut out. But I think this one kind of resonated with me about what's going to happen and what's kind of going on in Jerome's head. And when we take a look at this, this clip is roughly about a minute long. You can kind of see that Jerome, in the beginning, he was very confident in what the Fed was trying to do by raising rates and they thought that the economy would act a certain way. And you can see that he's pretty much admitting that, no, this is not what's happening. And at the end, you can just pretty much just lay it all out and say, this is where we are going. So without further ado, I'm just going to have you listen to this clip and then we'll come back. Or a higher rate, they're not feeling that increase in rates. So the economy may be somewhat less susceptible to the effects of rate increases. On the other hand, if you look at interest-sensitive spending, these are very much the places where we expect to see and do see effects. So for example, in housing, the housing sector has been very affected by higher rates as purchases of durable goods. If you look at surveys, people will not say that it's a good time to buy a car or a house, quite the contrary. So we see policy working through its usual channels. It may just be that rates haven't been high enough for long enough. And again, it's all happening in a context of very strong demand. We've heard other people speculate. So there you go. I mean, pretty much he's just saying, he's like, look, we think this is actually going to work, you know, but maybe we just haven't gone high enough for long enough. And this is what he's been touting for for quite some time. But when you can see it and just you can I link this in the description so you're going to actually watch the entire interview. But when you see it, there's just kind of a little bit of doubt. And we don't know, you know, how this will affect. We don't know how long as far as like these these rates because it's not just like, you know, the Fed raises rates and all of a sudden, boom, off we go. And we we've crushed inflation, victory, everybody's happy. It does take a long time. I think that's why they're talking about being so data dependent. But what he talked about in there, and I always like to do this is just to take a look at when he when people start to state economic data, it's always important that you do your own research as much as you possibly can. So when I took a look at this, he did say about, you know, the housing, housing market vehicles and ancillary spending and things like that. So this is where I turn to Ben's website. And I just kind of verify something. What's great about it is, of course, you know, I just click on macro and just search for housing. So you can see here what he was talking about. As far as like, you know, people would say that this is not a great time to get houses just on just this sentiment. We can see that the housing units and there's two different things. We're going to take a look at housing units started, meaning construction is actually tipped off. And we can see that we tip we topped out in last year, March of March of 22. And it's been on a slow decline. And of course, as the rates, when do we start raising rates? Probably around that same time. Because why would anybody want to buy a bunch of houses as the rates are coming out? I think right now we're at a rate for mortgages roughly around 7.95, 8 percent. Check me in the comments section. Who wants to do that? People don't want to come in and pay that high rate. And of course, the people that maybe want to sell their house, why would they sell their house to get a new house at 8 percent? Now, I think they're missing the boat because as time goes on, the rates will go down and you can refinance, but that's a whole other story for another video. But we can just see here that, yes, housing units as far as started, as far as construction, it's kind of going down. Housing units under construction right now. You can see that they've pretty much topped out. Again, looking back to October 2022. And then if we take a look at, there's one more sales prices of houses sold. And I thought things were staying pretty high up there. We can see that, yes, with the rates going up, then people are asking for less money. Now, jeez Louise, 400, I didn't know it was a high, 479,000. It was a typical price of a house in America. Man, things have changed a lot. And of course, if we go on here, now we're looking at 416,000. So for the houses and of course, new houses for sales and sold ratio, obviously, you know, we are down as well. So we take a look at that. Now, let's also take a look at vehicles. Ah, sure, I didn't have it in. So actually, this is what's also great about Ben's site. You just type in what you're looking for and I'll just show you. So let's see. Yeah, total vehicle sales. And in actuality, for this one, if we take a look at it, let me reset that. It's actually not what I expected. And this is why I like to take a look at this. So as far as like total vehicle sales since 2020, we're actually kicking off. Not too bad. Total vehicle sales, 16.18 million. And there's another piece I want to take a look at from the Fred. New vehicle sales and auto price inflation since the pandemic. And we can just see that even though, you know, these rates are going up and this will obviously affect new car sales. What he was saying, maybe the sentiment is down, but we can see that total vehicle sales as of time 2020, there was 16.18. It's almost at a high, not an all time high, but you know, moving back, you know, you have 14s, 13s, 16s, 16s, 15s, 8s. This is April of 2020. Now it's a bit different timing. But so when he talks about that, you know, again, a little bit of confusion as to what actually is going on. I see that actually vehicles aren't as bad as I thought they were, but houses actually were. And this again, is why it's important that you do your own research as much as you possibly can, or, you know, at least watch some videos of people you trust. So the next question is then we'll have this affect the market. Well, of course, the market gets spooked as it always does. The S&P 500 took a little bit of a dip. Let me refresh this. Let's see what we have today. Oh, wow. See, look at that. And then again, I don't know why this is as a surprise to people. He said forever, I'm going to raise rates. I'm going to keep this at a certain level. And on top of that, we're going to be higher for longer. And he just, you know, reiterated that fact, although maybe some of that ambiguity or maybe some of that a little bit of uncertainty has crept into the mindset of the investor right now. We can just see that we're going down. Now, how does that affect for the crypto market? Nobody cares. Bitcoin's on a nice little rally in 24 hours. I mean, one hour it's up 0%, but 24 hours Bitcoin's up. Seven days, 7.6. Let's see some other winners out here. BNB, as they burn a massive amount of Binance coin, which sees you just released a couple of days ago, 2.7 for the week, Lido 2.5, Solana crushing it, 6% and 18% Tron. Hey, Tron, I will not say anything bad about Tron anymore. They've been in the top 15 forever and people use their stable coins, so I'm not going to say anything. Ten coin, 8.2. But you know what's cool about this? If you're looking at CoinGecko, let's take a look at how this corresponds. Oh, I do want this in English to the Bitcoin. Let's price everything in Bitcoin. See who's bleeding. Well, it's looking pretty bad, right? I believe Ben talks about this every so often, infrequently, but I mean, as much as we're up, we are still bleeding against Bitcoin, except for Solana for some reason, 9.8%. And there's always going to be a T. You can make that case, but you can see right here in the red, it's pretty damn red. Except for what the heck is this? Crypto Poccoin. You can look at that and YOLO, that's amazing. I'm not even going to talk about that. Have fun trading that, you degenerates. So that's all we have as far as the markets right now. It's crazy. And then also, before we go on to the next piece, we talked about business and Solana and staking. We did the NFA Live today. It was probably one of our better, maybe our best show. And we talked a lot about just the markets. We talked a little bit about war, which we're not geopolitical experts. That was very light, but I liked the last part where we talked about nuclear energy because Ben is a PhD in nuclear engineering. And then we talked about where things should potentially go as far as to correct just everything that's wrong with humanity. And I liked that talk. So there's a link in the description. You can check that out. And that concludes for that piece. So let me just think about that in the comments section. And let's move on to some other interesting pieces. Even though, I mean, we just talked about Solana up roughly 8% for 24 hours, seven days. Lido finance just recently dropped Solana staking after a Dow decision. I like to see these things because that means that Dow's essentially autonomous organizations actually are working exactly as they're supposed to. Here's what's going on. So Lido finance known for its liquid staking solution will no longer accept new staking requests for Solana. And I believe they just did the same thing for polygon. Correct me in the comments section, but I remember reading that. I just don't have the story with me right now. Whilst this decision was difficult in the face of numerous strong relationships across the Solana ecosystem, it was deemed a necessity for the continued success of the broader Lido protocol ecosystem. Notice what they say here. It was difficult in the face of numerous strong relationships. I need to make this crystal clear. It is a business. And it is your job to make sure that you are profitable. If you're not profitable, you are to cut ties and be blood thirsty and cut throat. Unfortunately, that's how it is. And why is that? It's because the members, the people that actually put the funds in demanded that you do that. And I have to applaud them for this timely decision. And here's the numbers. There was two distinct paths for consideration. One option proposed keeping Lido on Solana running with Lido Dow's financial support. Okay. Plan called for $200,000 every quarter for development. Then $600,000 per year for marketing and $100,000 for customer support. That's $1.5 million over the next 12 months. Where does that come from? That comes from the users. That comes from the people who are staking. That comes from the Dow organization. You have to pay that. And that would be okay if you were profitable above $1.5 million. But here's the numbers. Since taking over the PDP team spent around $700,000 on Lido on Solana. They earned $220,000 and they faced a loss of $484,000. Right there, you have to cut it. You have to go away. Trust me. I've dealt. I've worked in businesses. I've owned my own business. I own my own businesses. These are the things that you must do and you must move along anyhow. Let me know as you think about those pieces in the comments. And also, I just wanted to bring this up because it's about price predictions. And I think I personally used to do this. I think they're ridiculous. And I want everybody to understand that these are just educated guesses and maybe someone didn't pull it out of their hat. But it's just a guess. So the spot Bitcoin ATF approvals could add $1 trillion to crypto market cap. This is very good. I believe the ETF, not if, but when, you know my position on this, but it has to happen at some point. That's ridiculous to say that ETFs will never happen. That's crazy. But to talk about numbers, I mean, come on, wait. So this, a specific quant said that if the issuers have been applied to list Bitcoin ETFs, put 1% of their assets under management. And of course, they're talking about the BlackRock, the fidelity arc, and so on and so forth. If they just put 1% of their AUMs to these ETFs, approximately $155 billion could enter the Bitcoin market. That's great. Should the scenario take place, it would hypothetically push Bitcoin's price to between $50,000 and $73,000. Now look, this could happen. It could not happen. But I don't want people to say, okay, it has to hit this number because this is the same thing that happened like with my price predictions, with stock to flows price predictions, with John Mac at these price predictions. I mean, just name anybody's price prediction that you hear out there and it gets stuck in your head and that's the wrong way to look at things. So again, I think these are just ridiculous predictions, but I do like the Hopium or the objectivity of looking out there and it gives us a little bit of something to shoot for. Great, just don't get it stuck in your head like that's what it is. And then also on top of the good news, I just have to bring to your attention a couple of things. First of all, there's a rumor going around the last two days or so that's Roblox, which is an enormous game. My grandson get to play that fun times, fun times. It's good. It's fun. Goofy game that XRP was going to be integrated into it as far as payments. Now, if you don't play Roblox, you have to use US dollars and you get Robux and you can pay for all these ridiculous things and kids love it. And for whatever reason, XRP was inserted into the conversation and this has been making the rounds on Twitter on crypto Twitter. But just know this has already been debunked by Roblox itself. So don't go out there and FOMO into XRP because you think Roblox is one of the biggest games in the planet. So of course, this will raise the price just hold on. That's not true. Also, another hack has happened. Unfortunately, this is the Phantom Foundation hot wallet was hacked for 550K. Here's what's happening. The Phantom Foundation developer of the Phantom Network has been hacked for about 550,000 worth of crypto. Now, there's been a discrepancy. If this is 550,000 or 7 million and keeps going back and forth, whatever it is, it's not a good look for Phantom. I must say, if your hot wallet has been hacked, this is not fantastic for you. Blockchain scary research initially reported 7 million. The Phantom Foundation later released an official statement saying that some of the wallets labeled Phantom Financial Wallet were mislabeled by block explorers and that not all the stolen funds were from the Foundation. These are the types of stories that I get into because when we keep having these hacks and these problems, it really sheds a negative light on our industry. Now, you can't make an omelet without breaking a couple of eggs, but it really does suck when those eggs are the financial liability of the people that put their funds into these projects and then they lose out. Now, in this situation, it was just the foundation, thankfully, but these types of things, they have to minimize or completely go away before we can grow. That is just my personal opinion. I'll let you think about in the comments. And also, I just need to make a distinction here and that is that as far as wallets, there's a difference between Phantom Wallet and Phantom Wallet. One is from Phantom, from the actual crypto project itself and the Phantom P-H-A-N-T-O-M Wallet through Solana is a totally different wallet and it is not what we're talking about in this situation. And then also to finish up kind of some negative news, but it is what it is, Gemini, Genesis and Digital Currency Group behind Grayscale, just been sued by New York Attorney General for allegedly defrauding investors of one billion. And speaking of things that we need to stop, I think these fraud and scamsters, this has to go away too. Just going to throw it out there. So the lawsuit alleges Gemini and New Genesis' loans were undersecured and at one point highly concentrated with scam Wankman-Fried's Alameda Research, but they did not reveal this information to investors. You know how Gary's always going on about, you know, we have to disclose this to investors and we have to get this information out. That's what he's talking about. So here's all we have. This happened today, New York Attorney General Letitia James filed a lawsuit today against Gemini, Genesis and DCG. James is seeking to ban Gemini, Genesis and DCG from the financial investment industry in New York. That would be a big load of Gemini because that is one of their big feathers in the caps that they're actually able to serve New York customers. Now if they're being sued, that's not going to happen. I'm not a lawyer. That's what it means. But before everybody says, well, how dare this Attorney General go after these great companies? I will remind you that not everybody gets it wrong. A broken watch is right twice a day, right? Today's lawsuit is the latest action taken by Attorney General James to reign in the crypto industry and protect investors. Citing her recent action against crypto players, CoinX, KuCoin, Celsius founder Alex Moshinsky. Hey, you got Alex Moshinsky, right? So don't fire the messenger. This is just what's going on and we'll see how it all plays out. And also about one more thing about horrible policy. I forgot about this one. Senator Elizabeth Warren, man. There's one thing that all politicians want and that is to be reelected and whatever they can run on, they're going to run hard. So Elizabeth Warren, of course, is building up her anti-crypto army, but she just called out with 100 other lawmakers, congressmen and women, to ask Biden, President Joe Biden, about plans to prevent crypto finance terrorism. There's a great twist to this. Just hold on. This is what they state in the letter. Congress and this administration must take strong action to thoroughly address crypto illicit finance risks before it can be used to finance other tragedy. Of course, she's talking about the invasion by Hamas in Israel and the horrible, deplorable killing, merciless killings that were happening there and they were saying that this was all financed through crypto or a large portion of that. Well, thankfully, I got a friend, his name's Guy from Coin Bureau and he's got a really great crack team and they hunt down a lot of information. And he states here, in the fog of war, it can be incredibly hard to verify info. However, there is one thing that can be immediately verified and that is blockchain data. The claim that 82 million of crypto was raised by Hamas as a lie, it was less, I think he says, it was less than 1 million. And here's his tweet. I link that in the description, you can check that out. And that is corpses from chain analysis. Now, look, we all know that things that are being run by terrorist organization, things like that, of course were financed by the US dollar and whatever different fairytale paper money that's out there for fiat. And that's not what I'm saying. What I'm saying though is that these types of things are gonna keep happening. We're gonna keep hearing about illicit activity and we're gonna keep having it. But if you are a terrorist organization or a cartel or somebody who wants to hide things, it is the dumbest thing you possibly do to put it on open, immutable ledger. I think that is ridiculous. And I would hope that at some point, Senator Elizabeth Warren and her cohorts would actually understand that and work with us. But what am I gonna do? So that's what we have there. And then finally, I'd like to say congratulations to George from Crypto Zaraus. He got his YouTube channel back. And I guess it was taken away yesterday. We sent a tweet out and then I reached out to George and I said, hey, if you want me to talk about this and we could build up your other channel, I am George, but I never heard from him and he deleted his tweet. So I mean, that's good because we need more people out there. And of course, censorship is quite a big thing. And I think just YouTube made a mistake. So thanks to everybody who helped out with getting George, his channel back. However, there was a thing that came out that I kept getting tagged in again and again and again. And apparently, I Trust Capital, who was a sponsor of this show, they dropped George and they said, and this was what they said. They said, hey, George, I saw your post from earlier today about your YouTube account being taken down. Sorry to hear about that. My team want to reach out in regards to your monthly deliverables. Since it's halfway through the month and you may not be able to post for the rest of the month, we can just process a half a payment for the month in October and pause your contract indefinitely till you're back to making content. To receive half the payment for October, please run it with the integrations, so on and so forth. So George is like, I'm not going to deal with I Trust Capital whatsoever again because of what they did. And people tagged me in this, Crypto Airborne and then, hey, is Aaron? And then the Ewing says, I want to see what news asset thinks about it. And then people sounded off and like Joby and I don't know what this one is. Why would you burn a partnership? You didn't get your channel back and guessing they're done with you now. This is just business. Love you. I don't know about this, George. It's only they were doing business and this may not reflect on any personal affinity that may not affect you and the speed at which they were acting is consistent with being a shrewd business entity. I would make this crystal clear. So with this one, when everything went down, especially with FTX, with Voyager, with BlockFi, with Celsius, I had to come to Jesus' meeting with I Trust Capital. I said very clearly, I don't care what you guys have to do. You need to make sure that you're solvent. You need to make sure that you succeed and you survive until 2025. I can't have you screw over any of my subs that I have talked about this because we have a partnership and I use I Trust. You must make sure that you make it. I made that very clear. I go, I don't care what you have to do with me. Just make sure that you survive. Moving forward, I Trust is not perfect. I Trust has certain issues just like every other business that's out there. And of course, they reach out to people when they have complaints and I'm usually tagged in that and we always resolve it. So I will just say this. As far as what I Trust, could they have handled a little better? Sure, they could have been with more kid gloves and been a little bit nicer. I'm sure I could have done a better job but they were very ruthless, not ruthless. They were very concise and they were quick, just like the story that we saw with Lido. So for me, moving forward, I will still stick with I Trust and they just didn't work with George in that particular case because I told them and I think they have this in their mind too. They are here for the customers and if the marketing has a problem, they will move forward accordingly. And if my channel gets taken down, I expect them to do the exact same. And that's it. So thanks everybody so much for stopping by. I appreciate it. If you liked today's video, give it a thumbs up, consider subscribing. We're going to talk about his time sensitive. Now, if you want to stick around and do a little Q&A, let's do that. I'll answer all your questions to the best of my abilities and we'll go from there. Glen, she helped with any money laundering and KYC, Warren will retire soon. Yeah, you know what? Elizabeth Warren, not everybody's pure evil. Not everybody's pure good, as for sure. Talk to my wife, she'll tell you. And she's done some good things. I mean, let's be honest, she's rollied against the banks. She hasn't taken money from them. And she wants to, I think she wants to do the right things. I'm just saying, I'm just trying to play devil's advocate. However, in this situation, I think that she's incorrect. I hope that she can rectify the situation and she can take a look at what is plausible and what is reality as opposed to the information that she gets. That's why I tagged her in my tweet. Not that she's going to read my tweet, but that's what I say. Crypto Westquare says, Yeah, I trust her down a bit. They could have. They could have definitely. And I think this is where the true contention. I will say like this. If they would have said, Hey, George, man, it sucks that your channel is taken down. We're here for you. Let us know what you need. Didn't say anything after that would have been pretty good. I trust. I know what their plan is because we talked about this. Me, we sat down their plan. And this is where I got it. Stay alive for 2025. They are making sure that everything they possibly can do is to get them to the next step, the next evolution. And sometimes, you know, you get a little harsh. Like look, I was a director of professional services at a nationwide home health company. And there's a lot of times when I had to lay people off and fire people and I was pretty brutal because there was a bottom line to take. Should it, could I have been better at it? Oh, most definitely. Could I would not have been such a jerk? Yeah, maybe. But these things happen and moving forward, you know, sometimes you, you know, you don't handle it as, as perfectly as you, as you should. And that's it. Cats. New moderator. Thank you for coming. We are not missing in the spice yet of the stream really today. If that was the NFA live, I really, really liked that chat we had because I've always wanted to ask Ben this question about why did we get away from nuclear energy? Why are we doing this in a global scale? What is going on with nuclear waste? As I understand it, we've kind of solved that issue. So why did Germany go away from it? Why did we go away from that in America? And why are we still relying on fossil fuels? And his answer was great. So just check out. Maybe Ben will fire up a second channel. That's a good question. How high do you see quant by 2025? Let's do this. QNT. Wow, it's ranked 37. That's pretty good. Let's take a max. All right. So, oh, this is in Bitcoin, which isn't a bad way to look at things, honestly. 50 cents. Okay. And then it topped out a what? Three. Geez, Louise, $382. Over here, it's 85. Here's my prediction. It will be between a nickel and $1,000 by the next bull run, which the next bull run could be between 2024 and 2028. Nailed it. I'm 90% sure I'm right on that one. I have no idea. I'm sorry, Vatican. I don't know. I don't have any prediction. Oh, Roger. It's very nice. I must admit that's a very nice picture you have. Smart click-point headline I fell for. Hey, what are you going to do? But it wasn't click-bait per se. He made a bold statement. He was uncertain. And he is going higher for longer. And the thing that was surprising to me was just how much he talked about how these rates may not affect the economy like they thought it was. I thought it was a pretty reasonable title. I didn't say, hey, Bitcoin to a million, and have my O-face on, and then come on here and go, just get in 73,000. I don't think that's true. J-H. See, this is what we should be talking about. If we use nuclear electricity, cost goes way down. Can that affect Bitcoin price since miners break even? Could be much less than block reward, scary thought. It's all about supply and demand in all honesty. Nuclear power is, actually, I don't know, and enough of the data to really give an answer to that. I think it's all on how they process it. And of course, all on how they have to deal with the waste and getting it to the people. So I know that in Germany, they essentially cut off all nuclear power, which is why they're dependent on oil, which is why they're dependent on Russia, which is why there's a big problem over there. But here in America, coal, natural gas, that type of thing. And nuclear power is not as big as we thought it was. But if it could drop the energy costs, I think that would be a big boom for not just people in rural areas, people around the world, especially in third world countries, if you can do that. But again, that'd be a huge, massive undertaking and cost for a third world country to say nuclear power, but getting too much ahead of it. I feel like Ben is going against the DCA theory now. I'll let Ben explain it. He did say today that he's been buying Bitcoin every so often along the way. So I mean, it's a very stretched out dollar cost averaging. So sure, I don't know. I think in the long run, it's not, when we get to the next bull run, whether that's 2024 or five or six, no one's really gonna really think about and say, you know, Ben should have bought this or Rob shouldn't have bought so much of that. At that point, it's just gonna be me, you, everybody in the chats and a ton of tourists who have no idea what the hell we're talking about. So yeah, AI swing trader. Hey, Rob will the ETF be safe enough on a major exchange and not have to store your Bitcoin in hot, cold wallet? I'll probably sell mine and repurchase. I'm always worried about my seed phrase. It's a good question. And I will just say like this, in 2014 when Mount Gox happened, I wasn't around. I didn't hear about it. I heard about in 2017. And at that point, I thought, I don't need to do a cold storage device because there is more checks in place. And of course, these different centralized exchanges are a lot safer and there's not as many hacks out there. And that proved somewhat true. I mean, there was a hack on Binance, I believe in 2018. Correct me in the comments section. There's been hacks on our centralized exchanges. And then of course, there's another thing we should have seen, which was the centralized exchanges. It wasn't the hacks that screwed us over. It was the greed and incompetence of those centralized exchanges and the fraud that allowed for people to be scammed out of their life savings and everything else in between. So there is the narrative one of hacks. There is narrative two of economic mismanagement or portfolio mismanagement and them being fraudsters and Ponzi scheme artists. So the next one to answer your question trader, would it be safe enough to leave them on exchanges? What about a third reason? And we don't even know what that is yet. So I'm going to say no. I'm going to say no. I'm going to say if you know how to use a ledger, I know it sucks about the seed phrase. If you can't stand the seed phrase, which I get, I totally get you. There's a thing. It's called a tangent wall. It looks like this. I did a deep dive video as a link in the description and I explained why this works and why you don't need a mnemonic phrase. I think that's probably the future of cold storage devices for people who don't like mnemonic phrase, which I think will be the newer people coming in. Yeah, Dennis is right. Dennis says, Ben is bullish on Bitcoin. I'll claim against it. Just simple understand. It's very simple understand. And they have to like, people get so ticked off. Like I read, I read some of the comments on NFA live and man, well, first of all, if anybody hates anybody, first of all, they usually hate on me, which is fine. And then the next one is Ben and then a far third place is guy. Everybody loves guy, but they hate Ben because he talks about alts and how he doesn't buy alts. He believes they're going to bleed and they confuse what Ben's talking about as far as like the fundamentals of a specific project and the pricing of a specific project. You understand, Ben got shellacked on the last time and he put a bunch of his funds into altcoins and he just saw it bleed for years just like I did. And he's like, I'm not going to do it again. And he's like, if I'm not going to do it, I'm going to tell people what I do. At least he's honest about it. Sweet Mary Joseph, man, people are lying their faces off on all these different videos and X and all that stuff. So I totally get where he's coming from. Nice. I like beer. Thank you. Sean with a tremendous mustache. What's the available amount of Bitcoin? What's the available amount of Bitcoin in the market to be sold right now? And there's different on-chain data. Correct me if I'm wrong. I think it's like only 2.3 million Bitcoin that's available. So we're up to the point of like 19.1 million has already been mined. The last Bitcoin won't be mined until 2140. So for that time, there's a very little amount. That's why people are always talking about how there's going to be a supply crunch. And it's just that amount that we're moving around which is what causes the price to move. So to be honest with you, it's not that much. The thing that I concern myself with is when we get this ETF coming in, you have to ask yourself, are the institutions because they have to carry the underlying asset. Will they be buying it just like you and me? No. Or will they be buying it like how MicroStrategy did it which is over-the-counter, OTC, didn't disrupt the market, kept doing it, and they bought it little by little. I think that's how they're going to do it. But maybe if they're a strong demand then maybe they OTC runs. I don't know how it works. I'm not for sure it'll move the price a great amount like people say. Ah, Jean-Louis. Hey, Rob, good tokenomics. Are essential to the value of cryptos? You seem to disagree with Sweatcoin and James with Injective. Any comment? So I don't know what James said about Injective, Sweatcoin. I mean, we've gone over this plenty of times. I still believe in the project to know people will say, well, you know, it has so much for the foundation and for what was the other one. The foundation and for, let's just look it up. Hey, everybody gets their wish. I get to talk more about Sweatcoin. Hey, let's see. Oh, it's quite red today. Yeah, about the same price. There's this thing called Tokenomics. Sweat allocation. Yeah. So community, this is when they had the TG, the token generation event. This was last year. And of course, this has been out on the Web 2 market for seven years. So all different tokens that people have actually built up over the years, because it wasn't even a Web 3 product until last year. All of those tokens got transferred to Web 3 and that went right to the community. Of course, with the ecosystem, that is whatever they say. That's 7%. But the foundation, the Sweatcoin Treasury, first of all, you got to keep the lights on. And also you have to pay for developers and also you have to pay for marketing. And the foundation Treasury, well, guess what? You still get... Ah, hold on. Sorry. You still have to pay out people because it's a free app, right? So when you walk, I think it's 4500 steps now, you get to pay them, you have to pay in something and that will be the Sweat Tokens. I know people will say, well, what about this? What about this? That's the thing. That's how it works. Now people will say, well, it's free. How can it be free? Well, are you down on YouTube right now? So with YouTube is the same thing. It's free, but you got ads. So with Sweat, they got ads, too. And you can use those Sweats to buy different products, so on and so forth. But the one area of contention, I know that people have talked about is this. They go, what about this supply schedule? Are you going to dump on me? And I told you, I told everybody very, very clearly. I said, look, when I got in in the private round, this is what I paid. And this link for this degenerate spreadsheet is in the link in my description. You can find this on all my videos. I purchased it at a penny and a half. Right now it is less than a penny. So when people are saying, they're going to dump me, they're going to dump me, they have no idea what they're talking about because I'm not going to dump when I'm at a loss. I could, but that would be quite ridiculous. So there's that area of contention and that's it. I've been talking too much about that. Let's see. Yeah. Well, good question, John. Stay away, better to buy on the way down than on the way up. No. I think it's just better to not try to time the markets too much and just take a look at indicators that would tell you if we are in bullish markets. So the big score, maybe the fear and greed index, maybe take a look at the NVRBZ score, maybe took a look at PyCycle Top as far as like for Bitcoin and kind of go from there. As far as like buying on the way down, and I did that, this is the thing that people, I think people know about me is I was buying like Cardano and Ethereum and Bitcoin all the way down and it was painful when it was happening in 2018, 2019, but I gotta tell you, it was still pretty damn good in 2021, you know, and you went from three cents of Cardano to three bucks and you went from Ethereum 100, 200, 300 up to almost 5,000. So it's just one of those things like it's your personal preference and my way is not going to work for everybody and your way is not going to work for say like Mullet. Ah, James like Injection. Oh, great. That really dumps it down and smart people don't get it. I need that, that's for sure. Hello, hello. Every coin is what coin are you? Yes. Oh, that's great. So we do want to meet up in the next two weeks in San Juan. We know that's a taste of smoke. I'll let everybody know and if you're in Puerto Rico at that time, come down and say hi. Maybe Ben's chair will be there. It would be great because every time I'm there, it tastes of smoke. There's not too many chairs available because it's packed. So that would be great if you could stop by Ben's chair. The wife is calling, pick it up. I don't know who it was. This is a good question. ABDCM, Robby think institutions are already buying Bitcoin behind the scenes. There are very few retail investors in market at the moment. Still Bitcoin keeps climbing up. I got to tell you, there's another stat to take a look at. There's a website. I have an affiliate link with it or anything like that, but it's a great website. It's called Into the Block. What I like about this is it gives you a bunch of different data pieces. And what I like to show about Bitcoin is that right now with the current price of Bitcoin, what are we at, 28,000 something or other, the people who are in the money, it's still 71%. I know if you've bought at the very top of 2021, I feel you, I did the same thing in 2017, but time heals all wounds. But if you take a look at this, people are in the money and we know that Bitcoin is deflationary. We know it's a good long-term store of value so I don't think a lot of people are going to be buying anytime or selling anytime soon, excuse me. And of course, you can take a look at the Holder's Composition by Time Held. 70%, almost three-fourths of people have held for a year or more. One in 12 months, 24 and 6%. And when I take a look at these numbers, and there's other ones that you can take a look at too, but people are not, let's take a look here, exchanges. Maybe if it comes up. There's a good one to look at is inflow and outflow. When things are moving into an exchange, that means people usually want to sell. When things are moving out of an exchange, 23,000, that means people are selling or excuse me, when they're outflowing it, they're holding into cold storage and there's been an uptick. Actually August 10th, not so much. Ah, the net flow. This is a good one to see because you can see like who's putting, how much is actually being put in, how much is being putting out. 24-hour change. See, this is something you need to know. Like even though we think that all this data, I just told you it sounds very bullish, but look at this, 24-hour change plus 152 Bitcoin, 7-day change. Well, 7-day change, negative 181, okay, 30, you got me on that one. So 2,230. So yeah, you can kind of see that the data will show you that it's looking pretty bullish for the long term. Now short term, I got no idea, but it looks pretty positive. And to answer your question, Sam, I think if anything showed us with the Cointelegraph fake article, I think it was Cointelegraph, correct me in the comments, was that there's a lot of demand and there's a lot of people on the sidelines for whatever they're waiting for. Even if that is Bitcoin going to 20K or 12K, whatever they thought it was going to do. And then when they figured out, holy smokes, this ETF actually got approved. I'm going to miss my opportunity. You saw some massive FOMO. So I think there is a lot of desire and it's going to happen. Just the question is how much? So I still think, yeah, people are probably on the sidelines, sidelines, slowly accumulating. If they're smart, they're buying OTC to not move the market, just like what Michael Saylor and Michael Schrader did. All right. Hello, everybody. Hello, Coin. Let's see. Yeah, John's right. Very sharp, sharp tie there in that picture. ETFs are not stored on walls. They will be housed by the provider, not say to participate in crypto ETFs. Yes, but I think with BlackRock, which I found something interesting. You go to Coinbase, and I'll show you. If you go to Coinbase.com, forward slash institutions and clients, of course, we all know that BlackRock and Andreessen Horowitz and Grayscale, actually Coinbase is going to be in the custody. That's their custodial service. So this has already been set in stone. I got to tell you, if BlackRock was my customer, I'd pretty much stick it right here, right here, everywhere. So everybody could see it. But yeah, they have to buy the underlying asset. They're on his corrects. All right. Let's hope not. When Maltz's doubtful ETFs will actually hold all the Bitcoin they're supposed to. Yeah. That's the whole point of Gary getting involved, right? He's to make sure he's the top cop. He's to make sure they're actually doing those things. Wouldn't that be something if it came out that they didn't? Yes, RetroBeast is correct. Rob, did you see the video of Gary Gensler finding a little softer on the ETFs being approved? Yes. And I keep messing up this statement. But I would rather be wrong and rich than right and poor. I don't believe I still have this nagging feeling that in a year is going to come and go, we're not going to have an ETF. I also have a nagging feeling that in March is going to come and go, we're not going to have an ETF. That's a 90% assurance by some people. Cool. Great. And I hope it actually works out. But yeah, there was an article or there was an interview. I think it was between him and I think one of the reporters for CNBC or MSNBC. And he pretty much said he's like, yeah, we're looking at 8 to 10. He goes on, you know, we're having the staff come through them and we're waiting for whatever it is. But he didn't seem like he was, he didn't say anything about manipulation. He didn't say anything negative. He just said, we're looking at it. I thought that's a pretty good way to offload some things by saying, yeah, with the other, it wasn't me. It was, you know, these other people in the SEC and we had staff do that and they gave me recommendations and then I took their recommendations and we approved it. Hey, if it happens, great. I got to wear a stupid shirt on Simon Dixon's channel, but I'm okay. Because I mean, what will Bitcoin be then? And all the alts. I'll be happy. Ah, let's see. Reuters got a point. Longer ETFs to lay, longer to accumulate. I've been, we've all been doing a pretty good job, I think. Except then, just kidding. Ben's, he's bought a couple of Bitcoin. I think Ben will be just fine. And like, if you think about it logically and you just accumulate all that cash and then you're just like, okay, now at this point, this is when things are going to go up. I'm just going to start lump summing. And maybe you take a 10%, 20% haircut. Well, that would suck. But I mean, how much are we down on different altcoins right now? I'll tell you on Sunday when we meet up and I'll show you my portfolio, how much I'm down or positive and all that good stuff. Nope. There's one thing I will not do. That's one of them. I'll wear that stupid shirt. That's it. Yeah. Luxo says, your conversation this morning was hilarious. When asked about when you need to improve this role, the answer talks about kindness that's needed. And Ben talks about to yump the rock. Look, I was just talking about war in general, understanding. And like I was talking about, you know, like I was a medic in the army. And, you know, when soldiers come in, you know, for the hospitals, this is what we would do. And I worked at ICU ER and the Bernie and when you're, when you see those, we take care of people and you have to scrape off necrotic skin because it's, it's, it's all dead. And you've gone through for morphine and the lidocaine baths and you're scraping off and they're still screaming. And you realize just how awful war is. So I don't think it was hilarious at all. And that's it. That's it. Well, on that note, that's a good way to stop. So thanks everybody for stopping by. Appreciate it. And I'll see you in the next one. Bye.