 Now let's jump into a little Q&A as me and C.T.O. Larson. Answer all your burning questions, the best of our abilities right now. All right, so let's see, I start a couple. Tommy, shout out to the beautiful people in the Dan fam. The ones that have all the wrenches, that's the truth. Thanks everybody. And if you're here now, you don't have to have a wrench. I'll just start giving out later again. Is this the beginning? It has begun over six months now. Where have you been? That's a good one. It seems like we think that, you know, some people would say, I remember there was a lot of harshness when people started to say, this is a bear market out of the bull market. But it was the truth. I mean, I remember saying this a while ago, and people were like, no, no, it can still happen. We can still rebound. I'm like, I don't see it. The macro doesn't tell that story. Okay, C.T.O., here's one. 18.3 K. Do you see that happening anytime soon below 18 K? Or do you think that we'll hit these levels of support like you were talking about for the seventh time and just bounce up? What do you think? It can absolutely happen because there is this tactic. When we're looking at this chart, the big moves are driven by the macro economics right now. But there is room to manipulate the price. There's some very rich people and they have enough money to actually drive the price of Bitcoin, $1,000 down, $1,000 up and so on. And a tactic that they often deploy is called to run the stops. That means that you try to guess if people are long or they have bought spot, where will they have the stop loss? Meaning where will they step out of the game? And if you look at the chart, where would you put it? If you think that this is the support, I'm not the only person who can figure this out. Everyone can figure this out. So here is the support level at $18,600. If that doesn't hold, you want to sell maybe. So say you put the stop loss a little bit below $18,300, $200 maybe, or you put it even down here at $17,500, then it's really over, then you pack up and go home. So you put the stop loss here. Then a tactic would be to push the price down $1,000 in five minutes. And then all those stop losses are gonna hit. People will sell, they will close their loans and then they create liquidity. They buy there and they run the price back up and then they cleared all the stop losses. Everyone have got screwed and they walked away with some money. And if they have enough money to run the price like that, they can definitely do it. So I think that that can happen for sure. It's possible. I don't know if it will happen unless you are that person or it's your uncle. You don't know if that will happen, but it can definitely do that. So that's a tactic. Can put in some buy orders there. If they hit, they hit, if they don't hit, okay, then they don't hit. They don't, they don't. And then of course you have some buy orders there and it goes down lower, which is what happens. And that's okay because the thing is like, I was always thinking about this and people like, well, Rob, because I had a strategy I had was I just waited for the Fed to come out and say, this is what we're gonna do as far as the rates. As soon as they would say that the rates were higher and everybody was, most people were wrong. They're actually much higher than what we thought it was or a little bit higher. And everybody said it was priced in, which it kind of was, but you would see a dip in the market. I just waited, you know, and I would buy Bitcoin to like 22K or 25K where else is. And they're like, well, don't you feel kind of goofy now because, you know, as time's going on, it might go to 13K or 12K. For me, it's not so much the point. I will never time the absolute bottom. I will never time the absolute top. Even Baron Rothschild on the richest families in the entire planet has said this, I made all my money by not buying the top or by not near by the top and never selling near the bottom because I'll never do it. And those are from like the richest people in the world. So what are you gonna do? I think so too. I mean, if can avoid giving up, if can just avoid giving up, it's gonna be fine. If can avoid that, you know, hold all the way from 65, say that we go to, I don't know, 10K. Let's imagine we go to 10K. What a lot of people will do is that they will hold all the way from 65K, down to 10K, then it's flat there. And it feels like this is over, guys. I should, you know, sell the little I have left and walk home. And at least I won't feel bad about it anymore. You know, I cut my emotional pain if nothing else. And if we're selling or home, then it will run all the way back up again. That is what's going to happen. I can guarantee it. And I don't know if it will be at 10K. I don't know if this is the bottom or if it will be at some other level, but that behavior will probably happen. And if we can just avoid that, just avoid not giving up, but instead try to maneuver whatever is thrown at us. We try to do something reasonable. You know, we try to plan for the next Fed meeting and maybe buy lower if it goes lower or take some action and stay in the game. Yeah. It's going to be fine. Well, yeah, stay in the game. Well, I mean, that would be like this one. There was this article about the 10 biggest days. And not that I'm telling you to stay in forever, everybody. Remember, we are not financial analysts. We can't give you financial advice. This is just what we do personally. But this was from CMBC. Charbelo shows how $10,000 of S&P 500. And just as S&P for 20 year periods between 99 and 2018, what it performed. If you fully invested it and just waited, the average annual return is 5.6. If you miss the 10 best days, it goes on to two. If you miss the 20 best days, you get down 0.3, 30 days, 2.4, 4.2, and so on and so forth. So a lot of the ways is it would be who you just to stick around for a bit. But again, it's important to also, at some point, you got to sell. And that's really what it comes down to. Absolutely. You manage the money somehow. You need to manage the total portfolio. So you have something to act with if it goes further. We don't know, right? You and me and everyone else in the world, we don't know. If we knew what the price would go, or if it would be obvious what would happen, it would already be priced in. So it's not obvious. But if it goes down by another 50%, need to have some room to act, to do something and not get paralyzed, that is key. That is key. Here's a good question. Jupiter Mojo, Wycoff, an accumulation, and Fibonacci folks are saying 8,500 bucks. I'm going to guess this is for Bitcoin. Do you see this in any way, shape, or form a possibility? I mean, everything is a possibility, right? But what's the probability, I guess, would be? I think that very low prices are definitely possible. Key in crypto markets is to open your mind to much wider range of possibility than seems reasonable. On both the way up, a lot of people sell too early. They actually catch the winner. Then it goes up 20% and they feel I should sell now before the profit slipped away. And then it goes another 100X or something. And the same way down, it seems impossible. If we just think back until the end of last year, it would seem impossible that we sit here and it's at 19,000, it would seem unimaginable. But so a key is to kind of open yourself for the possibility. Could it go to 8,500? Yes, absolutely. Could it go below 5K? Of course. I mean, it was below 5K. Well, it is it, two years ago. In March 2020, we were at what was actually the lowest point. It was very hard to catch the bottom there. But we hit the low of 3,856. That said, what, two and a half years ago? 3,586. So, yeah, of course it's possible that we could hit 8,500. I think it's key to kind of open your mind to all the possibilities. What's the probability? I have no idea. Do I think it will happen? I try not to, I can speculate about it, but I don't try to impose my opinion on the market because it's usually unsuccessful. It's better to just have a ability to react. If it happens, I'm going to probably make even more money than if it doesn't happen because I'm going to get in lower. And I think eventually the crypto industry with Bitcoin and Ethereum and many of the other coins, they're going to succeed. So they're lower, the better in my opinion. Yeah, I think so. It's going to take some time, but we'll be there. And this one from Tommy, Digital Me, are you very concerned about potential mining bans? No, and there was a story that we did a couple of days ago by the administration to put out. There was a report that said that we're taking a look at proof of work. And if it comes unsustainable and it really damages the electrical power grid, too much stress, we got to think about banning essentially proof of work, which is essentially Bitcoin. And I said back then, I said it doesn't, here's what's going to happen. Bitcoin miners are going to figure it out. They're going to say, you know what? We don't want to give up this $500 billion industry because we think it's going to be $8 or $10 trillion in the future. So if they don't like us using so much electricity, we'll do the ESG compliance, which I don't think that really big corporations even care about, but they just say they do. And we'll figure out a way to use renewable energy. And so much the better because there was this report just came out a couple of days ago, solar powered crypto farm in Australia to prove Bitcoin mining can be green. This was just two days ago. And they talk about how in Australia they're using solar power. They're able to, this is just a test case. They're able to do 200 or excuse me, 100 Bitcoin annually, but they're going to scale up. And I just thought to myself, well, that makes a lot of sense. All they're going to do is just go like this. Look, if you don't want us to, if you want us to be ESG compliant, we'll install wind turbines, we'll install the solar panels, we'll use a vapor flare or gas flares, which is environmentally detrimental. And we'll use those into the Bitcoin mining process. And all by the way, in Texas, we'll just shut off the Bitcoin mining rigs when there's a strain on the electrical grid. So I don't really have a fear about the Bitcoin mining ban. I think they'll figure it out, especially since there's so much money. All right. I think so too. And to add one thing, which is very key with the whole, I mean, I support, I think Ethereum made a good move with proof of stake and so on, but I'm not against proof of work because it's one thing that is so key and a lot of people haven't understood. It's not so easy to move electricity around. You can do it, you can build the cables and you can move electricity from A to B, but it's difficult, it's expensive and so on. Just because there's a lot of volcanic energy or thermal energy in Iceland, that doesn't help Puerto Rico right now if there's a power outage. Or if you have a lot of renewable energy in one place, you can't immediately get it to the other place. And while most of electricity consumption is very local, it needs to, it happened at a certain place, but Bitcoin mining is not, it's not sensitive to the latency, right? You could put Bitcoin mining on the moon or something, if you, you know, you could put it anywhere and it will work as well. You don't need to put it exactly where the people are or exactly where the power generation is. So you can just move it around. You can move it where there is excess electricity production and because you can anyway not transport that energy somewhere else. Hey, so, and also CTO had a really good video about how everybody gets it wrong as far as electrical consumption. So if you just search CTO Larson Electricity, you'll see this video come up and he went over a bunch of different graphs. It's really good. There was a question I had when you were doing that. I know you were talked about, you know, nuclear and solar, but a lot of places, it's all fossil fuels. That's just how it goes until we transition over. Geothermal and sweetened, was there, I didn't remember, do you guys talk about that, use that or do anything like that? And the reason I asked is because in Texas, there's a couple of different communities that new developers are using geothermal energy. They dig down. Oh, absolutely. It's a huge thing actually. I didn't talk about it in that video. I felt it got too long anyway, but absolutely most of, I think, yeah, I think most villas in say Stockholm area, they have a deep hole under the house down into the ground. And then you can send down the water and it comes up a few degrees warmer. And then you can use that differential to actually create heat and heat up the house. It's amazing, but it actually works. And it's used a lot. So there's a lot of rules that you know, you cannot drill too many holes at the same place. And as authorities coordinating this in the villa areas and so on and it cuts electricity, it cuts heating costs by more than 50%. Gotcha, that's pretty good. See, there's opportunities and there's answers all around to actually implementing those processes. How about this one? This is for both of us. Actually, I'm gonna start with you, Lars. What, where do you trade on as far as for your preferred exchange? Yeah, it's what I do for my personal investment is probably not applicable for everyone else because we have a special tax construction in Sweden called ISK. And then you cannot buy the crypto directly, but you can buy a price tracking certificate. It's like, not exactly like an ETF, but it's an exchange traded product. And we've had it actually in Sweden since 2015. And then if you buy that Bitcoin or Ethereum price tracking certificate and you have it within that tax construction, you don't pay capital gains tax. You pay instead a percentage of tax on the entire amount. Oh, I see. All the tile assets which, you know, they can go up a lot and they can go down a lot. That comes out favorably. Also, it is more transparent. So there's less work to report the trading and everything because it's handled by the old traditional system and reported automatically. I don't need to do anything. So that's actually my preferred way. There are major downsides with it. For example, it's closed on the weekend and so on. But that's what I use. But I think that answer isn't applicable to most people. I think the two companies here are probably the right question. They seem to be very stable. Binance clearly has, I think, benefited from the washout that has been. Oh, yeah. They have read some interview that many of the companies in trouble they go to Binance first or they go to FTX to try to get help. So I think that these two companies, they will move forward in their positions. They will buy a lot of good companies on the cheap here and come out even stronger into the next bull run that I can guarantee there will be another bull run. We will continue going up and down as long as this exists. It's always, there's always a bull run. There's always a bull run. Yeah, bear runs don't last forever and sure we know that bull runs don't last forever. And then to answer this question for me, because I'm American, this is really what it comes down to. First of all, just so you know, there's a great website called nomics.com. And you look at exchanges, you can see the top as far as volume percentage-wise. And Binance crushes everybody. Volume last 24 hours, 78 billion. Okay, X, 20 billion. Climate exchange, I don't know, why it's here, 1.8. Bybit, 12, FTX, 11, so on and so forth. So for me personally, this is all the ones that I use because I'm in Texas right now, so I can't use Binance. I can't use Binance US. I use FTX, I use Coinbase, I use Coin or KuCoin. And where did it, oh, for some reason this is gone, but also Kraken. I don't know why this isn't here. I had to fix that. But those are the ones that I use. And then there's also some DEXes. I use the Uniswap and SimpleSwap when there's things that I just cannot get my dirty hands on and we're just gonna go from there. So all right, that takes care of that. And then there was a question about the Voyager acquisition or the Voyager auction. It's going on right now in New York offices. I think this is day five. So if I had to put my money on it, it would probably be the two that are in the lead, Binance and FTX, just like what CTO was saying. They've got the deep pocket, so we'll see. Anyhow, I think we're coming up to the end. That's many questions. I don't know that one. I don't know what Suka is. I don't even know what that project is. Looks like it's probably the last day. Simon Dixon, we'll talk about that later. That'll be in the tomorrow's video. Ah, they told you so. Told you about Loop Network flying the last days. Everybody tells me something. Look, I don't know how you feel, Larson, but I'm gonna miss a lot more opportunities that I'm actually gonna get into. That's just how it is. Oh, yeah, absolutely. I think a good analogy is to think like a surfer, right? You don't need to surf all the waves in the ocean. That's a good one. Let's deal with that. But if you're on the wave, speaking of selling that you talked about before, like if you're on the wave and the wave is moving you straight into the mountain, you have to get off that wave. It's different when you enter, when you buy, right? You don't have to buy all the opportunities. There's no need. Like people laugh at Warren Buffett for not buying Bitcoin or anything, but you don't need to buy all the good opportunities. He understands that he doesn't understand it. So he's not gonna play that side. He's gonna do something else. So it's fine to miss 99% of all the great opportunities. You just need to get a few ones. But if you're on it and it starts going bad, you cannot think the same way. You have to get off and save yourself. Save the money. For the sake of the money. Yeah. And then the last two, and then we'll finish up. I mean, what time is it over there? 7 p.m., 8 p.m.? 8.30. Yeah, this guy's gotta get back to his kids and his wife. So the last two questions, CTLRs and thoughts on L2 scaling solutions like Immutable X and Optimism, do you deal with those? I don't really deal with them. Oh yeah, it's a giant, a giant topic. I do think that there are benefits. I mean, if I back up one step. Ethereum scaling isn't going to work if we don't get layer two working. It's not gonna be enough. Even with shorting and everything. It's not gonna be enough if we imagine that this ecosystem becomes used by not only you and me and a couple of people here around. If we're thinking about billions of people using it, it's not gonna work if we don't get layer two working. So it has to work out for at least that technology to work. And then of course there are other blockchains that take another route and saying, we're just gonna build the fastest best L1 instead. And that will scale. So this will really be the battle. It's not really about which layer one is the best. It will be, I think, will layer twos work out or will there be like the best layer one that will work over here? But that is perhaps a too big topic for the last five minutes. I think it's a very, very good question. And my thoughts on it is a lot. I like the innovation. I think it's a great technology. I also see challenges, the complexity being maybe the biggest one of them. Complexity. And we'll see who wins. Look, that's what the bear market's for. Let them fight it out. I want to say one more thing because Rob, you have done so many great videos and I learned so much from them. I just took a note the one that you said. You talked about financial education for kids in this previous video and how bad the advice was in the video. And I thought it was the same advice as when I went to school. And it was so bad advice. And I'm thinking, imagine if someone who actually knew something about money or investing had just come for 30 minutes, one time and said something, whatever methodology then it doesn't really matter. Just knew something it would have done. It would have changed everything for all those kids. Now, I mean, I discovered it much later in life when I was over 30. And imagine if we could just teach a little bit each little bit to the kids. And because the education in the schools, at least based on what you showed there, it's exactly as bad as it was when I went to school 2,000 years ago in this situation. No, it's the same, man. It's never, I don't think it's going to change. I think there's a lot of education out there. It just, will they get pushed into it because the kids in today's school, like I went to Washington, the only financial education I got was how to write a check. Me and West Coast scripture had the same thing. Here's how you write a check, and here's what you do as far as a bank. You deposit your money and you wait 50 years, and then hopefully it's enough for your 0.003%, yeah, interest rate. So yeah, it's the same thing. And then to finish this up, so we can get out of here. This is Robbie Seen Simon Dixon's video today. He's talking about going quite lower. And you're gonna see a lot more videos about that today. People are gonna talk about going to 13K, 8.5K, whatever else, I don't know. And then of course there's this one, the Mountain Gox Bitcoin, soon to flood the market, 12K possibly. I'll hand this over to Larsen, but I've been hearing about Mountain Gox since I got in in 2017, and we still haven't seen any distribution of that yet. I know we're getting close. Who knows that's gonna happen, or who knows what it's gonna do. I know it's gonna be, there's three options. You can have Bitcoin, Bitcoin Cash or Cash. But for that one, Larsen, what do you think? Yeah, I think that has a merit. If I, you know, gun to my head, I have to predict what will happen. I would also guess, I mean, the trend is down. So the odds are that it continues down because trends, at each point of time, the trend has a higher chance to continue than to reverse. So yeah, probably it goes down. But I think key here is to realize that today isn't the day to sell. You know, if using one methodology, it was half a year ago. And if you see another methodology, today would be the day to gamble on a reversal or something like that. So even if, yeah, I do think that there's good chances we go much lower. In fact, I hope for that. Because trend is down, so I hope we go even lower and then reverses from there. Then I get even better entries. But it's very difficult to predict the market. If everyone agreed that we're gonna go, that is gonna be 13K. Okay, then price would be 13K today and it's not. So clearly there are big players who don't think that. But I do think that if I had to gas, trend is down, so yeah, probably we go lower. But I don't really use that belief mindset as input to my trading. I will just follow what actually happens instead. That is higher. It's easier to observe the present and predict the future if I put it like that. Yeah, and I got to, I'm not a big TA guy, but I just take a look at the macro conversation. The optics don't look too good right now. I don't see what the narrative could actually push us farther. I think we will go down further. I think there could be little, many rallies, very market rallies, that's fine. But I think in the long term, we're gonna see some more pain. And unfortunately, I hate people hate when I say this, but I'm kind of hoping for that. Because I know that for these rainy days, there's gonna be sunshine and those are called the bull markets. Exactly. And I mean, you mentioned electricity. For example, here in Europe, electricity prices are going up. And there's a narrative and then there's a reality I covered in that video. But fact is that they're going up and they're going up a lot. And what will happen then is that a lot of companies which don't have the benefit of using digital only technology as we are doing, they will go from profitable to bankrupt. That's what's going to happen because their whole, maybe they're operating at 10% profit margin and now it will go to minus 10%. Then they don't have money, they're gonna go bankrupt. And that will add on to all the other problems that's already in the economy. And there's no easy fix for this electricity thing because the real problem is that they switched off the old systems before building the new ones. And that's not easily resolved. So I think there are these real problems that are actually real. That's not just policy. But who knows what happens. The politicians want to win the election. So maybe they will go and pump the markets, sell out the futures, pump the market, get us over the next election and then let someone else worry about it. But I don't know. Whatever. Yeah, here's a stimulus check right before you can vote. All right, everybody. So look, I wanna say thanks again to CTO Larsen for stopping by. Always a pleasure. CTO, you're always welcome on. And again, you can find the link to his video on his YouTube channel. Link's in the description, you can check that out. But that is it for today. So everybody, thanks for stopping by. We both appreciate it and we'll see you on the next one. Thank you. Thank you.