 Great Well, these are all asset news to get top stories and crypto and break them down into bite-size pieces So today just the thumbnail suggests I've got some concerns about what's going on in the crypto sphere So we're gonna talk about first metamask Venezuela and centralization Second we're gonna talk about my little. Thank you note to the SEC We appreciate what you guys are doing as far as protecting me at a sarcasm We'll ask you we'll take a look at Robin Hood market maker to pump crypto Yes, but there's a catch and we'll do all those things and then we'll also do a little Q&A at the very end Five questions in five minutes and before we do that just let you know that we'll do a quick market recap If you're here for the live stream, welcome. Thanks for stopping by on a Saturday And just so you know if you're watching the replay, there will be time stamps below So you can fast forward to where you want to do great and before we get started I was reading the comments always great for everybody to come in here I love everybody who actually takes the time and Of course people like Rob. Let's hear your fud story today. Look, I'm gonna be honest with you This is not investments advice. This is investment opinion. I think we're all gonna make a bunch of money Okay, that's just my that's just my my lame prediction that I have. I think we're all gonna make a ton of money in crypto I already made a ton of money in crypto Dollar-cost averaging from 2017 all the way today. I was buying Bitcoin. It's five thousand six thousand I was buying Cardano at seven cents eight cents. I was buying a 30 my three hundred dollars. I've been doing that for years Okay, so I have no problems looking in the future and going why can't those same thing happens again? If we just keep dollar-cost averaging, it's inevitable in my opinion again Investment opinion on investment advice. However, having said all that I have concerns right now today And let's just break into it and get in and just talk about it. So first up I Want to talk about this issue that it's been popping up and what's going on? And it's Venezuelan users of crypto wallet MetaMask Say they can no longer access it and this is first of all you're probably asking Rob Why Venezuela? Why should we talk about Venezuela and what's going on over there? Who cares? I care But it's not just that It's what's going on with MetaMask behind the scenes and how there's things you should know about certain wallets And how they can be shut down at a moment's notice. So here's what we got So this message began to crop up on Wednesday today is Saturday So this is a little bit older, but I had to wait on it because I've been busy actually Just got around to it. The suspected culprit is the API for infura a blockchain node Infrastructure network the page features a screenshot of an arrow error message a kind of the type being spread in social media It says something like you can't sorry can't connect on MetaMask the for the host here's some potential reasons click here and then you can ignore it right there and Spanish whatever but There's that part we'll dig into that a second, but this is somebody from on Twitter and they took a look at the actual I guess looks like the HTML code for The web page and you can see it clearly right here error forward slash Or backslash country blocked backslash give this message this country. So essentially what's happening here is That in Fira and for I don't know if I'm saying it right if you're in Fira They put that in the code for MetaMask support if you are linking into in Fira which most MetaMask wallets do and What they did is we're gonna block this country So the whole thing what you're thinking of is I thought wallets couldn't do that well They can do that depends on the wallet itself Now if it's remember that these are wallets that are connected. They're hot wallets. They are an app that you download into your web browser and That holds first of all There's nothing on your web browser. You have to understand that of course everything is on the blockchain Your private keys your mnemonic phrase that what is in your possession? So if you're accessing the blockchain through MetaMask They can shut down MetaMask. They want to it is a hot wallet and there are certain ones that they cannot do And those are cold storage devices like a tracer or like a ledger So those are the ones that I try to use as much as possible Unfortunately with the way Dex's work. I've been using MetaMask a bit more now. I'm gonna come down. So The the question I got was what is this real? Well, this was from MetaMask support their official website link in the description You can find it out. It's just two days ago. It says by default MetaMask access is the blockchain via in Fira Fira Whatever which is unavailable in certain jurisdictions jurisdictions due to legal compliance When you attempt to use MetaMask in one of these regions, you'll receive this error message Which is the same one we saw was in Spanish MetaMask enabled connect connect to the blockchain host Review possible reasons here dismiss whatever else. So I was thinking myself. Well, I will tweet this out try to figure out what the heck some Fira and Here they are and Fira is the number one toolkit for 400,000 plus blockchain developers dynamically scale your DAP and accelerate innovation with Ethereum and IPFS So am I okay? Well, that's what it is. That's interesting. That's weird But as we come down here, this is on March 3rd today, it is March 5th and Because everybody started to complain about this on social media and I got a lot of traction They stated hey in response to the concerns we've been hearing We want everyone to know that we corrected the problem that so many of you have pointed out and changing some configurations as a result of the new sanctions Directives from the United States and other jurisdictions. We mistakenly configured the settings more broadly than needed to be This was our oversight. We are grateful that it was pointed out to us Once we determine what happened we were able to fix the problem and services been restored We since really apologize for the eruption So that's what's going on. So here's the thing I'm gonna ask you right now So did you know that that could be done? That metamask connects to infura and that they could stop your wall at any time What do you think about that? Do you think that's an acceptable action? For crypto and digital assets, which is supposed to be decentralized and put in the power of the people or do you think that it's okay? that these types of Organizations can just do whatever they want to do based on the sanctions and here's even deeper questions that we asked a couple of days ago Since sanctions are being opposed are imposed posed on to Russian people Russian oligarchs Mr. Putin do you believe that we should be able to put these sanctions on everybody and shut them down on the crypto The digital assets on the far as these centralized exchanges and before he answered that Remember this everything's a slippery slope So first of all these sanctions who they're really gonna hurt. I'm gonna tell you right now I've taken a couple different looks at what's going on just in Russia itself and it's Decaying rapidly So yes, it'll affect these people But let's say it goes to Putin and then you're like well that that makes sense bad for that guy, right? And then it goes down to the oligarchs will hell with those guys And what about the other people that are underneath them? Well, I don't like them because they serve those people and then you take those those people and you start to go Well, what about the enablers of the enablers before you know what everybody's? Everybody shut down So it's just it's a lofty question and I just pose it to you But that is what it's going on and then to finish this up to make this even more scary or not scary Just to give you a little bit of backdrop blockchain company consensus Faces Multi-billion dollar audits as shareholders claim board breaches fiduciary duties and somebody asked this question On the last livestream. I was like I was like I really don't care if Joseph Lubin a multi-billion dollar gets sued I don't because I mean what does that have to do with me everything so here's what's up On Tuesday 1st of March a group of 35 former employees representing more than 5% of all known Consensus AG shareholders filed a request for a special audit special audit is to investigate serious irregularities at CAG, which is a consensus on August 14 fundamental intellectual property and subsidiaries We're legally transferred from Consensus into a new entity consensus software and corporate or CSI in Exchange for 10% ownership of CSI and an offset of a 39 million dollar loan by founder Joseph Lubin Internally codenamed project north star the transaction result in the legal legacy financial institution such as JP Morgan Chase acquiring an influential stake in MetaMask and in Fira To the most widely used infrastructure tools in theory and let me tell you that let me say that one more time The transaction result in a legacy financial institution such as JP Morgan Chase acquiring an influential stake in MetaMask and in Fira Into the most widely used infrastructure tools and Ethereum Joseph Lubin is the mage the majority shareholder of both companies Transaction was the detriment of the minority shareholders of consensus CAG and the benefit of Joseph Lubin personally during project. No star north star Joseph Lubin and Fidroff Weiner nailed it acted as directors at both CAG and CSI For such a transaction dual representations in general invalid under Swiss law and considered to warrant special scrutiny in the US due to This dual representation the transfer of assets from CAG to CSI is expected to be void under Swiss law and likely under US law so Not that it's just some awful thing. I mean look for making a ton of money. Why not make more money? That's just what it comes down to so It's just interesting that Now we have JP Morgan these big players and they're in the game now. It just seems like What was decentralized becomes a lot more centralized and there's a lot more concerns that are going on Do I have all the answers for you? No, but it's just something to bring to your attention. I will say this When we take a look at the next couple stories, you're gonna see why we're probably gonna do really well Coming up But the question is at what cost so let me just think about those stories and Real quick just want to share with you My little thank you letter. I don't know if this is per per tail per per se to what happened with Coinbase and The SEC but I got this email and it said update on your die rewards rates Because I I've got some some different cryptos just sitting on Coinbase not a lot I don't keep money on the exchanges the majority should go into my my ledger Sometimes I get lazy just like everybody else and some of that for don't transfer to immediately that day It just happens, but I so I get these rewards and die and it says hello Robbie we periodically assess the rewards rate for die stable coin and notify you of changes as of March 4th The die rewards went from 2% to 0.1 5% APY. I was like well That's great. I mean it's better than the bank still banks suck But I mean ingestion rewards, man I'm sure people that were I know people work the bank the great people but you know It just kind of seems like it's kind of interesting that you know Coinbase went into the SEC and sat down like Gary Gensler had asked everybody to do and they said hey We want to do a rewards program and they're like you do that We're gonna see the pants off you and they're like, okay We're gonna stop now they stopped it on in America But they do it of course outside the USA and now here I go with my die not that it's gonna affect me greatly It's like you know, it's not that not much of a reduction from 2% to 0.1 5% but Slowly eating away at what made this great So that is that and then I want to shift and pivot into the last story, which I think is probably the more Probably the more important one and what you probably want to hear and this is always good stuff because you know Hey, everybody everybody wants to hear moonboy stuff We're going to a hundred thousand tomorrow. Well, I gotta tell you this story is actually quite bullish. It is it really is So I'm just gonna get into it real quick Citadel plans to start making markets and crypto in coming months CEO Ken Griffin says and I even did a story about this like three or four days ago about how Ken Griffin the billionaire who used to Really be negative. We'll say over crypto and he was I mean just some of us all not like rap poison squared like Like Buffett and and his partner, but I mean pretty bad stuff But he's come around all of a sudden he's like hey, I guess I was wrong, which I was was cheering but There's some there's always some some catches So Citadel is getting into crypto the CEO and founder of financial services from Citadel billionaire Ken Griffin Talked about crypto and his company's decision to enter the space and interview with David Rubenstein on Bloomberg Thursday before we get into that Who Citadel? Why is it so important? There was this great. I saw someone said this in the comments There was this great explanation of what the heck Citadel is From the YouTube channel the problem with John Stewart and it was excellent It's 16 minutes long. I linked at the very top you can check it out but essentially what this is this is pay-for-order flow and That's what they do for Robin Hood and they skim pennies off off the dollar for every different transaction And they make a boatload of money. Let's not let's call a spade a spade So when I see that Citadel is Coming in and they are a market maker make no bones about it. They are a market maker for Robin Hood What does that mean for us now, it's probably some pretty good things especially with as time goes on so Citadel is here He was asked whether Citadel plans to trade or make markets in crypto And he says to the extent that we're trying to help institutions and investors solve their portfolio location problems We have have to give serious consideration to being a market maker in crypto It's fair to assume that over the months to come you will see us engage in making markets in crypto currencies Found in 1990 Citadel operates two businesses versus Citadel one of the largest hedge funds more than 38 billion and AUM assets under management the other is Citadel securities the largest Market maker and stocks opposite interest rate swaps Retail and future clients the firm handles 40% of all stock trades in us 40% of all stock trades in us Griffin also met at Thursday that he has not been right about his crypto call He says crypto has been one of the greatest or great stories and finance over the course the last 15 years I don't know it's been that long but sure And I'll be clear I've been in the naysayer camp over that period of time But the crypto market today has a market cap of about two trillion used to be three. So I don't know where you were there In round numbers, which tells you that I haven't been right on this call. So I'm gonna ask you again How do you feel about that? Citadel the market maker that is for Robin Hood the great pay-for-order flow. Oh, do you know who came up with pay-for-order flow? Bernie Madoff. It's in this video. It's really it's really entertaining. So We're probably all gonna make it But the question is at what cost and that leads me to my last point even Kevin O'Leary, I Mean if you want to talk about institutional players getting in the game Citadel being a part of that is gonna bring people in and here comes Kevin O'Leary Mr. Wonderful says hey I spent my day at the Senate with a bipartisan group of policy makers who get the joke They're working on policy that will open these markets to institutional investors and all of a sudden Ken Griffin from out of nowhere from left field Says hey, we need to get into this. That's amazing. So Yeah, that's bullish But man at what cost so I leave it up to you I mean, what you think about that in the comment section and that is it for today's live stream So well, that's the news portion if you got to take off was good Saturday Go do your thing have fun have a great time if you liked the video give a thumbs up if you didn't give a thumbs down Hey, here's what it is and consider subscribing now. Let's jump into five questions in five minutes Do a little Q&A see if I can answer some of your burning questions About that craziness. All right. Let me get out of here Q&A comment Go watch idiotic that's where we're at that's true man. That's one of my favorite movies but I love that one This is a good is a question number one Well, actually, here's a comment was right straight on Daniel raises this paper wall. It's hard wall. It's nothing else. Yeah paper wall It's great. I never got to use one because I got any kind of after it I don't think you can still get them and use them, but I never really went down that rise went down ledger and just like that's it Dale, thanks for catching up There is some Okay All right, let's see if I can answer this was a tough one Quit time. How do you allocate portfolio between hard of all another storage like centralized exchanges for staking? So What I do is I have a spreadsheet kind of laid all out there actually I mean I have the spreadsheet itself is this app on my phone and It's just I just put all my different trades in there at what time I did it's kind of a pain Hey, actually and you can you can you can do your cost-based analysis on that one If you want to say well now it's time to take profits. I'm 50% I'm setting percent up or whatever else it is Also crypto trader tax if you're in America look tax is coming up get crypto trader tax links in the description They give you 20% off but on top of that They're also going to give you a free on top of that app to track all of your trades and everything else direct API integration No, that sounds scary. Don't worry. I've been using it for two years works pretty well No problem so far So that is what I would do because then you'd have everything there and that's for that's for worldwide everybody And then of course people in the United States. They can just kind of switch it over and go with that So my trades so hopefully answer that question adequately. I Guess then this is question number two Jim. I think I answer your question there If I sell it a loss do I still get taxed if you have enough like if everything's lost I mean that's actually good for you if you owe because that is a tax loss and then you can roll that into your taxes So let's I'm not a CPA, right? But let's say that you're Let's say you're in the positive like like the IRS Says you owe us a thousand bucks for you know after everything that goes through like well I just lost $10,000 and in crypto. Well, that's the truth You know, it's anything and actually you can roll this over the next year talk to your CPA though question number two Three more to go Here we go. It's a good one. Do you have any thoughts on DeFi node projects or DeFi projects in general? Hmm. I gotta tell you when I use when I use there's two decks as I use quick swap and Uniswap and that's pretty much it and I've got I still have the original Uniswap tokens that they airdrop me all back all back in the day So I think those both work out pretty well quick swap is great because not only do you have that option of just the Decks, but I get to play around polygon, which is super cheap to move things around I think polygon is the future. It's why I have a bunch of it. So there we go and Ken Gregory who probably I don't know if you're watching the whole video get your daily FUD from Rob Yeah, well, if you're gonna get any if you're gonna get anywhere. I must get from me. Look FUD is fear uncertainty and doubt and For me like some people will say well, you're spreading FUD because you're talking negative about The place look man or ma'am whoever you are. I gotta tell you the truth I mean, I'll be honest with you It concerns me greatly that you can shut down a metamask wallet I want everybody to know about that also concerns me greatly that Citadel is getting in skim off the top Does that mean it's gonna be awful? No, I told you in the beginning. It's probably gonna be awesome But what cost and that's for you to decide I can't tell you what to do Yeah, there we go. So hope that answer your question Question number four what happens if Bitcoin core team and miners get taken out There'll be somebody in the wings to pick up the slack if all the Bitcoin miners get taken out Trust me. I've met a ton of miners here in Puerto Rico They're not taking them all out and they'll just fill in that spot. Believe it. All right, and then let them ban it XRP baby. That's right. Oh This is okay. This is my number five question junk Montreal. The title is so unspecific though Tell me doesn't slide dishonest for clicks Look, man, I can just say news and then that's it and then people like what's this about and then when people come in Like well, it's the news now or I can say like I could be very specific In the title metamask, I guess I could have said metamask is Centralized I'm concerned But I just told you those are my concerns. That's what it is So I don't know if some people will say like it's it's clickbait if you say it too much And it's not clickbait if you don't say it enough and I'm like, you know, I've only got so many characters to use and That's it I'll dare I'm sure his feelings These are just these are just the things that are in my mind. It's not Thank you. Thank you junk Bontra What's your thoughts on masternodes, I guess be the last one ah Like strong nodes like masternodes look We need a lot of node operators that are out there and if you're ready to do that and put it down Then go for it. I'm just not that kind of guy And there's that's why it's what's great about crypto and digital assets Like there's all these different things you can get into you know How to be tagged to one particular thing like me kind of boring just dollar-cost average kind of wait for the time And then over, you know, three or four years You know millionaire Lambos to the moon all that great stuff and some people like no, I wanted, you know, I want to really get into crypto number 1272 or no, I want to do DeFi farming or no, you know, I just want to do stable coins and get the yield net or no I you know Pick your poison. I want to be a strong node operator or a gallon node operator or something like that There's so many things to do and there's so much going on like me personally, you know what I need Between us just just just us and like 2,000 people. I need someone who can Be a metaverse land Manager that's what I need because I bought a bunch of land in the metaverse and now to really build it up Someone's gonna have to do something with that because I'm not gonna do it too busy But I think that's the next job opportunity. We'll see what happens. Okay. Look, I'm keeping you guys too long 23 minutes Get out of here Saturday. So like today's video. Give it a thumbs up. Don't like it thumbs down. That's cool Yeah, subscribe. I mean, you heard if you're at 24 minutes might as well subscribe Come on, and that's it for today. So enjoy the weekend. Don't watch the news too much stuff Well, try to minimize the news keeps you keeps you saying that's it. Thanks so much. See you in the next one. Bye