 Great welcome to the last set news. My name is Rob and today the big story is the Ethereum merge went off without a hitch and that there's some pretty big and good things happening But in reality Was it that big of a thing? I gotta tell you right now? I tell you it's feels like there's a Ethereum hangover So we're gonna take a look at exactly what happened How this is actually pretty positive How well it actually went and then we're gonna take a look at some things to remember First of all the big thing is by the room or sell the news We'll talk about how early we are and we really have to take a look at what the real utility is And then we'll finish up talk about a little Cardano Vazel upgrade Which is only seven days away and also Celsius is gearing up for some paybacks and what this means in October. So we'll tell you exactly what to do So first things first This was the Ethereum merge and yesterday everybody was losing their minds. I swear it felt like it felt like There was just this this this huge anticipation of what was gonna happen People didn't know if it was gonna go out for that a hitch was there gonna be airdrops Was there gonna be just that this this massive positivity or was gonna be just a big huge dud? And I got to tell you it's it went off pretty well, but If you're haven't been paying attention, this is kind of what happened So the very first proof-of-stake block of transaction has finalized within really 100% client participation rate This was by far the best case scenario and as I take a look at everything across the board looks like everything's going off Pretty smoothly. There may be some small fires there that the team is putting out But so far running well, does that just mean that everything can go out perfectly forever? No But it did do a lot of good things and there's this quote here that nine teams and more than a hundred developers Worked on the merge for years. I gotta tell you that's amazing I'd sit my hat to the Ethereum Foundation actually make this actually go through and this of course was why it was such a big deal For a lot of people, you know last week White House put that report out about climate change and that was the President Joe Biden's administration as I took a look at cryptos digital assets And the big thing was was that there's a lot of electricity use they didn't really like that and of course now with Ethereum saying we're going from proof of work to proof of stake the optics are pretty good And if you can go to institutions and big pocket investors and go look we don't use a ton of electricity I know you guys are big on ESG even though I don't really think you believe in it But that doesn't matter because that's what you guys are telling your shareholders. Don't sue me So they're like great now we can get into Ethereum I think that was a pretty good as far as like the optics what's going on now, of course No more proof of work all the proof of stake for a theorem and there was two two quotes I found that pretty much sums it all up. This is some spirodano What happened? He's now spends nine nine point nine five percent less energy. It's more secure Okay increased scalability and it's more secure. I don't know how to be able a slight skew towards deflation That's a big word. What did not happen gas prices did not decrease Transactions do not go faster and you did not get an airdrop. I know people were Thinking that hey, there might be a big fork And I get a book a bunch of airdrops I think people really bought into that and they bought a lot of Ethereum and now of course We'll take a look at the price in a second But that might be good in the long run and this was also interesting Next to she says stakers are the new miners They now receive all new eith and transaction fees and that's just something to remember It's amazing, right a whole industry just goes away all the miners all the money They spend on those rigs and they can go someplace else and they can mine different proof of work tokens coins Whatever, but Unfortunately, I don't think it's as lucrative as Ethereum was I could be wrong about a miner This is just the things that I've heard from other miners. Tell me in the comments section He's carbon footprint goes down great and this was two interesting parts GPU prices go down and Nvidia loses one of its main sources of growth Which that's a bummer unless you're Nancy Pelosi and you can get out of those trades. Hey Tokenomics look better Due to less inflation and posh and potential deflation. There's that word again deflation There's a great website. I want everybody to check out a link in the description It's called ultra sound dot money and you can see right here the supply changed since the merge They have 231 eith They have 231 so just think about that. So we know that Bitcoin is sound money Right because it has a a finite supply not scarce finite 21 million but imagine this with Ethereum going down Decreasing then potentially a lot of people locking it up 32 eith for staking rewards and also institutions coming in and buying up Like at some point crazy who knows Maybe this could be one of the biggest fantastic plays moving forward I'm not for sure but for all the things that we know about it. Here's what the price did What what Does the price mean that that reflects the actual project? No, but it just goes to show you there's some things to remember Which is this Macro is still a big part. You still got the Fed meeting coming up. We're looking at Wow next week September 20th and 21st They're probably gonna raise 75 basis points if they raise a hundred basis points watch out that will be Take the markets for a little bit a little bit of tanking There's issues with electricity. There's issues with wars. There's issue with the inflation. So even with all those things It's kind of tough To get a theorem to go we want to invest all into that I think people are still pricing in potentially a more negative slide and then the bigger thing I want you to remember is this every time I hear that that phrase by the rumor sell the news I'm like, maybe it's not gonna be like that this time Maybe People just understand that this is gonna be the next big thing and they're gonna get into it And if they buy into it now that they're going to get in a very low price and then as time goes on They're gonna be making out like gangbusters. They're gonna be multi millionaires and billionaires. So why wouldn't they buy right now? I thought the exact same thing in 2017 and 2018 And here we are So just remember that we're still very early and we have to really take a look at The real utility and some people will say well bitcoin is utility and 3ms utility and look at everything that's built on it true There may be some utility, but is this affecting? Billions of people are nations using it. Is there one super app? That's out there and if there if there is please let me know in the comment section because right now It's just a lot of speculation and that's pretty much what's going on So let me just think about that in the comment section. I'll be great and Let's move on to Cardano and Basel upgrade. So This is gonna happen in seven days as I think people May have remembered this or not, but again the question I have for you is this Actually, it's not a question. I'm just gonna say it like this It's it's always a buy the rumor sell the news just about always a buy the rumor sell the news If you think Cardano is going to go up the next seven days You might be right unless there's some big macro event But I think that after that Price will probably go down again. Does that mean that Cardano is a failed Project because the price goes down. No same thing with Ethereum Ethereum fundamentally is gonna be great. I think it's gonna do big things I think there's a lot of positivity But in the short term with all the things that are going on I don't expect this to hit all-time highs to go beyond that I think it's gonna be a bumpy ride and this bear market is For building so or as I call it build a bear So just you know Basel may as well. I always say it wrong Is the most significant current upgraded date bringing increased network? capacity and Longer lower cost transactions Excuse me The upgrade will also bring enhancements the Plutus to enable delves to create more powerful and efficient blockchain-based applications I think it's kind of boring from there But also another big thing is the pipelining to increase the throughput the transactions per second Which everybody's big on so I'm all for that. I will see what happens in the next gosh seven days But I will say this there was some interesting piece of information This is the updated top crypto projects by the number of active github contributors look at the top two Cardano Ethereum polka dot Guzama, but a polka dot Filecoin really crazy status ICP cosmos. Okay Essential land Solana flow near token. Yeah, you know, so I just want you to pay attention To the projects that continue to build in the bear market because those projects are the ones that you probably want to look at As we start to head into a bull market And just because we're in a bear market right now doesn't mean we don't change force at some way shape or form at some point In time these do not last forever prices don't go forever and prices don't go down forever But just take a look at the people and the projects and the organizations that are building right now because those the ones are gonna crush it In the bull so anyhow that takes care of that little piece and then let's finish up With another another update with Celsius. We so Celsius. I got this this email this morning And we did a video about Celsius yesterday, but just so you know It says here we expect to begin the claims process That's good At this time the proof of claim form is not yet available and the claims bar date Which is a deadline to file a claim has not been yet set So what do you have to do? I'll tell you in a second in the next few days? We'll be emailing you detailed instructions on how to participate our next quarter parents October 6th and 7th At the October 7th hearing we hope to advance discussions regarding the reopening of withdrawals For certain of our custody Sir for certain of our custody and withhold account holders. I don't know why they want to advance the discussions here's the discussions Would you guys like your crypto back? Yes, we would okay? That sounds good. Let's go forward with that That sounds like advancing discussions. That's just me though, but they put out this nice little video To explain it and it's about a minute long and I'll let you listen to it I got to tell you there's some I have to stop the video every so often to explain some things Because it's it might not make sense But actually now if I just let it just just go through all the way and you can you're smart enough We can figure it out at the end. I'll just put in my two cents at the very end. Let me stop the screen real quick Let me share the tab We're all looking the same thing All right, take a listen First Celsius will be filing the schedules of assets and liabilities with the court Which will include the amount we believe are owed to each of our individual customers and creditors at the time We filed our chapter 11 cases It's important to note that the amount will reflect account balances for all customers at the moment Celsius file for chapter 11 on July 13th 2022 this may be different than the account balance that currently appears in your Celsius account for a variety of reasons Okay, do that stop it right there because you're probably saying yourself Why would there be a discrepancy in between what is in the app what I'm going to get paid and what you guys actually have So first you have to remember that and then it's gonna talk about this a little bit later in the video But it's gonna say it's gonna talk about crypto not dollar amounts because I know some people are gonna say well Like hold on is it the the price that I had for one Bitcoin on July 13th? Or are you gonna give me back my one Bitcoin and from what this looks like as it's played out here? It is in kind So if you had one Bitcoin you get one Bitcoin back one Ethereum or 10 Ethereum Whatever it else is you get that crypto back and the next part where it talked about there Maybe some discrepancies remember remember those emails that we kept getting Which you would say like oh, congratulations. You just earned more crypto They're probably not gonna give you that crypto that was sitting in your account and you were earning on it They're just gonna say no, sorry. It's not gonna work like that. I'm cool with that Keep it whatever you guys do and give it to the people that need to get their money back because now let's be honest I could on that on that part. I'll see you do it and say that's fine. I don't need to get those things back All right, let's keep going Shortly after that customers will be notified that they are able to request that their full and specific scheduled claim details Be sent to their Celsius account email address exact details on how to request that information from Stretto will be provided to you At the same time Celsius will be preparing to file a motion to establish a date by which any and all claims need to be filed With Stretto. This is called the bar date Stretto will send instruction to customers Celsius account email address once the motion is approved and the bar date We expect this communication which will clearly stay any deadlines to be sent in October at that time a modified Electronic claim form specific to crypto assets will be available It will be designed to simplify how our customers file claims If customers agree with the information in the schedules filed by Celsius with respect to their respective accounts They will not need to file a claim and no further action would be required at that time However, should customers disagree with their respective scheduled amounts or otherwise wish to file a proof of claim They will be able to do that in advance of the bar date deadline Customers will receive a legal notice and comprehensive instructions on how to do so from Stretto There will also be an option on the updated claim form for customers to indicate if they're All right, so that's pretty much it so it looks like to me again Like there's a time frame. They're looking to pay some of that. I'm pretty sure it's going to be the custody not the earn and again what they talked about there as Far as the crypto and the digital assets again, it sounds like you don't have to do anything They're gonna send you an email and say this is what we have in your account Do you agree with that or not if you do agree with it? You don't do anything if you do not agree with the amount that's in there You're like, hey wait, I had a hundred Bitcoin. What the heck happened Then of course the instructions for you to go down the road the same thing happens with Voyager and mine was correct So we'll see that goes out and that's what's going on. I know it's not the most It's a step in the right direction and for these days That's all I can really hope for and that takes care of the news So look if you like today's video thumbs up consider subscribing all that good stuff But now we'll get into the Q&A and I'll answer all your questions the best of my ability You got to take off get out of here. I appreciate you stopping by and that's it for the news Let's jump into a little Q&A my favorite part