 Everybody welcome to digital asset news or Dan for short. My name is Robin first like to apologize Usually we do these videos quite early in the day It's just that there was a lot of things going on a lot of things that are happening So we just did this a little bit pushback and I'm gonna take Vicki's advice here and just delay the the intro Cuz I guess the intro gets cut off for some reason so I'll say it again Welcome to the asset news. My name is Rob and today we're gonna talk about I Think some pretty scary things quite honestly and We're gonna break this up into The non-hopium-hopium section. So first part I'm gonna talk about is thanks for listening And then now we'll talk about the good news then we're gonna get into the bad news There's I like to call it the reality and then we're gonna get into the principles of Bitcoin Decentralization and diversification I think it's gonna all just wrap it all up quite nicely and then lastly the very end will go over a little Q&A And I'm gonna talk about a giveaway tomorrow, which is gonna be I believe a nano and also a stonebook So let's just jump into it and let me just say this first. Thank you Thank you everybody for listening to the things that I'm putting out It's quite important if I'm just not talking to myself Because it's important that you do the things that I talk about or not do the things but Consider the things that I'm talking about as far as the rules and one of those rules was Nothing on exchanges zero zip zilch and try to take those off as fast as possible and because of you And I a lot of people actually saying the same thing now Which is what I like that we're kind of unified in the same direction, which is taking your crypto off exchanges This is the bitcoin exchange reserve and you can see that over the last a couple years or so We are far far far below What we used to do which is leave a lot of our bitcoin on the exchanges now We're taking control back. We're kind of figuring out that hey We can do this we can take our crypto off We can put on cold storage or even hot storage on a metamask wall or any kind of wall that you want to do And we can control we can be our own banks and it bypasses the middleman and it makes things everything a lot better Now it's a little bit more work Let's be honest because we've gotten quite lazy with using the banks and institutions But I think this is the best way and this is the way that we have to do this Moving forward. So again, thank you everybody for listening and hopefully the people that do have things on exchanges Hopefully they took it off. So we don't hear the stories about people losing their life savings so There is that and then here's the good news I was Feeling pretty good about this story dow Jones rallies on the cool inflation data I guess there was some walmart surge on earnings, which I don't have stock in walmart But just helps the traditional market and then of course it carries over to our market So dow Jones industry average rose one of 400 points Tuesday. That's pretty that's today After a cooler than expected reading in the ppi, which is a key inflation gauge I remember producer price index is currently kind of like the precursor to the consumer price index Which will be coming out in december, which will be right before the fed meeting before they decide to hike the basis Points to 50 or 75. So that's a good sign I'm not saying that the fed's gonna pivot But it's positive because now things are slowing down Dow Jones stocks home depot on walmart reported their quarterly earnings results had the market and apparently it was very good So that's fantastic. So all this good news. How does that translate? Well, actually translates pretty much better than I thought I would so Nasdaq itself over five days is up and we can see the s&p 500 also up pretty well I mean everything's up across the board. I mean heck even art art Uh is selling again Paul allen's art collection sets record with 1.5 billion dollar sale We're gonna have a little bit later, but I'm just saying that we've got the traditional markets doing well And then of course art is selling. That's great. How are we doing? Not too bad Look bitcoin didn't go down to 13k like I thought it might just didn't happen And uh, I'm glad to be wrong. I mean, that's fine I was kind of hoping for some better deals, but hey, I can't get everything I want to Bitcoin's up a little bit. There's up a little bits and everybody's quite happy I think there's nothing really fantastic gains except for uniswap and rightfully sell because I think people are gonna Migrate more towards defi so that's good and then On top of the all the things that are happening in the market. I just wanted to Make sure everybody realizes the things that that are happening. Remember The exchanges are not the market Just like the economy is not the stock market So right now the exchange is screwed us. Sam Bakeman did a pretty great job Excelsior, sorry, sir. Sure Voyager, Celsius those types of things those type of places, right? But the products themselves carry on It's like well, that's not us and I want to just give credence to one which is World mobile now. I'm quite biased as you know on my channel So I have invested in world mobile token I am a node operator, but I just find it interesting that There's products out there that are actually doing something Building and have real world utility, which is pretty awesome. So you don't know world mobile token This is this is one of those air nodes right there You can see that right there. This is I think is outside of probably zanz. Yeah zanzibar city And you've seen these types of things here in the states or in the uk or in any u or australia It's just a it's just a node which which operates for telecommunications so it can bounce signals off, right? So then on top of that they've also launched another one of our aerostats Which is a big blimp essentially and that allows for uh internet and telecommunications and oh and also It's built on cardano world mobile token right now. They got 132 total air nodes total network consumption is 1.05 terabytes and here's the unique users 15 000 and it's in africa Before everybody says oh, well africa. Well, it's what's uh, you know, what's so great about that? Huge natural resources in africa. I think it could be the next economic power over time however Don't get too excited about that world mobile token is a is really just getting started And they got a long way to go because 1.05 terawatts over the last 24 hours. All right, that's it's pretty good We're talking about 30 roughly 30 terabytes But uh, just so you know How many gigabytes does the average person in america or north america uses? In a month 536 gigabytes. So this is a mass here. I see about a thousand gigabytes is one terabyte So not that it is like the most fantastic thing of all time, but it's a step in the right direction So I just want to tip my hat to the people that are doing things and making things operate Great job world mobile token. You are bringing telecommunications to people who do not have it and you're doing a great job Thank you for making crypto and digital assets work So that's the good news That's as good as the hoping was you're going to get today because after this Kind of goes downhill. So if you want to stop right now, that's cool. I understand I would uh, maybe I would not want to stick around for the next part, but here we go So here's the bad news and it's the reality And you got to take it with a grain of salt because you know Sometimes I get things wrong, but uh, here we go First things first I don't want to take advice from a guy Who is a fraudster? However, it was interesting In a forum's interview bankman freed warns that some crypto exchanges already are secretly insolvent I don't think that is too much of a stretch of the imagination that that that is actually going on I think he's right in some regard not that they're all insolvent But I think we're going to see some what is called contagion And we can see that and we talked about this this, uh, fantastic I don't know who did this diagram, but it's fantastic And we take a look at exactly just how deep this could actually go. So there's spf Here's alimony investments and we know that there's a bunch of things going on there, right? hodl media, lido, misari, polygon, refinance, solana And my voice could keep going up, but I don't want to so ftx acquisitions, of course Blockfolio ledger x, which is the difference if it's a different from ledger ledger x It's not kind of platform. I want to say defi or something But it's not the cold storage device Voyager bitdeck circle No playups game avis block fi and of course some of these these companies already come out and said we are not Contaged We are not contaminated by this spf and ftx ventures and alameda However, there's been people that have that have come out such as skybridge capital Such as wonder fi such as block fi and some others So i'm not going to say that this contagion is wrapped up because it ain't This is travis cling and travis Is former equities portfolio manager fell in the crypt rabbit hole now running uh icky guy fund Not investment advice. That's the truth that this was uh, is this today? This is yesterday He says uh Unfortunately folks I have some pretty bad news to share last week a guy was caught up in the ftx class We had a large majority of the hedges funds total assets on ftx By the time we went to withdraw money morning, we got very little out We're now stuck along to everyone else and it's a very I'm not going to read it because it's kind of depressing But uh, you get my drift This will probably won't be the last one that we hear about how deep could it go? I don't know Uh, check out all the different twitter feeds and and the conspiracy theories and things that are going on It could go super deep, but i'm not here to speculate I'm just here to tell you the things that I know and here's what I know fed fed reserve michael bar Is concerned about blowback to the financial system from crypto and Tell me if i'm crazy, but it seems like This worked out really well for Regulators and the government itself as ftx collapses because Hey, you know These guys they were they were frauds and and we could have protected you harder But you know congress didn't pass anything now if we if we push this thing through I'm old enough to remember all the different wars that came about and the lies that were told And i'm not going to sit here and say it is or say it isn't i'm just saying it's happened before it could happen again so michael bar federal reserve's top financial regulatory official said he is concerned about risks from the non-bank sector including crypto For which the u.s central bank and other regulars have poor visibility bar said and this is that a senate banking committee This was today that includes Obviously crypto activity, but more broadly risks and parts of the financial system where we don't have good visibility We don't have good transparency. We don't have good data meaning. We want to give it to us Sure He also had signaled stiffer oversight of the crypto arena is in the offing Offering an issue that's taken on added urgency with the collapse last week of crypto f tx He states And I think this is positive, but take it with a grain of salt from who it's coming from We do not want to stifle innovation, but when regulation is lax or behind the curve it can facilitate risk taking Of course and a race to the bottom that puts consumers businesses in the economy in danger And discredits new products and services with consumers and investors Nothing he said here is a lie I have to admit it's true And uh on some of these parts Sometimes when you let the inmates run the asylum some bad things happen. I think we can all agree there So in front of this committee senator patrick to me, who is a huge proponent of crypto? to me's a pretty good guy so he asks Why they have not issued guidance to banks about forming relationships such as custody service with crypto firms that could foster great oversight of the sector And this is where it gets this last part is where you really get a Grind it down and this isn't good To me voice concern that the fed was signaling it may issue guidance to banks wishing to provide custody services for crypto assets To place those assets on the balance sheets. That sounds great, right? That's what we want Doesn't it well not so fast To me said he asked bar this he goes, but wouldn't this impose a significant cost on banks If they are in fact obligated to put all of the crypto custody assets on the balance sheets. Why is that a problem? Banks or bar said we've seen banks operate in a pretty cautious way to date There are very few institutions that are currently seeking to engage in custody activity Securities and exchange commission accounting interpretations for publicly traded banks that they would need to hold. This was the crux of it Remember this again. So I went too fast the sec interpretations for publicly traded banks state that they would need to hold capital Against the crypto assets held in custody In a way that they would not need to for traditional custody assets. What they are saying here is is this such If a bank comes in and says we want to hold bitcoin for you We will provide that service. Okay. They can't just hold the bitcoin and keep your money They're gonna say well, you're also going to have to which doesn't make much sense if you think about it They're also going to have to have a reserve Of funds for the value of that bitcoin in for whatever reason if the person comes in and says, you know What I don't want that bitcoin when I want the dollars well, it was worth this now It's worth this what they're trying to do is play like a three card Monty You go, no, no If you have bitcoin you have to have the the bitcoin plus The value of the bitcoin in reserves in cash or or whatever kind of assets that you want to want to say and they'll probably Give them guidance later on if that's the case how many banks should be like sure sign me up. Let me hold double No, it's not going to work like that and that is a big problem And this would lead me to my last part here and I got to tell you Maybe this was all planned out. I'm not for sure And this was The whole point of the video Banking giants in new york fed started a 12 week digital dollar pilot CBDCs central bank digital currencies and they're going to start it now What that sink in global banking giants That's That's a stretch are starting a 12 week digital dollar pilot with the fed reserve bank of new york The participants announced on tuesday Well, I guess it is city bank Mastercard and wells fargo are among are among the financial companies participating in the experiments Alongside the new york fed's innovation center The product which is called the regulated liability network will be conducted any test environments that use simulated data The pilot tests will show how banks can use digital dollar tokens in a common database Can help speed up payments. Remember a common database a common database. Well, that could be blockchain It's not very decentralized, especially if it's a single point of failure so all the things that we had talked and I talked about about CBDCs coming and people are like well, how far away are they? Well, here they are They're right around the corner and they're going to trial it right now here in america I'm not talking about the digital you on which has already been rolled out over a year or so Now we're going for CBDCs and I have to ask myself was just just a master plan all along. I'm not saying it is So the question then becomes Well, rob, how does that compare because CBDCs wouldn't that be like crypto or digital asset? It's a digital asset But is it decentralized because you can have cryptos and blockchain Just like china talks about blockchain. That's not the real deal and we talked about this yesterday We talked about we took a look at the white paper. It's toshinaka moto and we talked about how bitcoin was a peer-to-peer electronic cash system It's to be said directly from one point another without going through a financial institution Which is essentially what the CBDCs will be Right and there's one thing that I did leave out yesterday Because we did talk about payments peer-to-peer version of payments But you have to remember And people will say well is it really this it is a store of value It just depends on the time frame that you're looking at and that is a big thing I need you to remember a couple of things first of all Yes, we know inflation is high, but right now Like uh friend of show ben and in the crypto verse says cash is king if you're an investor And yes inflation does go up, but hey it hasn't uh hasn't inflated away 60 70 percent has it That's what uh bitcoin has dropped over the last oh year or so However, if your time horizon is long enough, this is what what this is what one bitcoin can get you In 1980 20 bucks gets you a A cart full of groceries In 2000 about half a cart in 2022 20 bucks can't go far especially here in portorico. It's just not happening In 2011 one bitcoin gets you Which was about 20 bucks back then Cart full of groceries 2021 it could have bought you a pretty damn nice truck And 2030 who knows what it could be again Volatility and things along the way, but there's a there's one thing that I need you guys to really focus on Which is people gonna talk about cbdcs and the government and like what's the difference? I mean that's the same thing right we can just use that But wait wait for a second There's this website dan teaches cryptos 100 free. I made it free so you don't have to pay a dime I Cover all the costs everything else not a big deal and the very first video that I have in module one The basics is this video right here the easiest way to understand bitcoin This is about five minutes long. This is peter van balkenberg And he and he's testifying before a senate committee and that right there is that he's he's testifying right by dr. Doom No, no roddy noribi. How do you say his name? And I want you to listen to this again. I need you to really delve into what he's talking about As far as and this think about how this will different how it differs from the cbdc. So just take a listen real quick About five minutes or so Always a good reminder My name is peter van balkenberg and i'm the director of research at coin center An independent nonprofit focused on the public policy issues affecting cryptocurrency and public blockchain networks What is bitcoin Bitcoin is the world's first cryptocurrency and it works because of the world's first public blockchain network What does bitcoin do? It's simple. It lets you send and receive value To and from anyone in the world Using nothing more than a computer and an internet connection Now why is it revolutionary? Because unlike every other tool for sending money over the internet It works without the need to trust a middleman The lack of any corporation in between means that bitcoin is the world's first public digital payments infrastructure And by public I simply mean available to all and not owned by any single entity Now we have public infrastructure for information for websites for email. It's called the internet But the only public payments infrastructure that we have is cash As in paper money and it only works in face-to-face transactions Before bitcoin if you wanted to pay someone remotely over the phone or the internet then you could not use public infrastructure You would rely on a private bank to open their books And add a ledger entry that debits you and credits the person you're paying And if you both don't use the same bank, well, then there'll be multiple banks and multiple ledger entries in between With bitcoin the ledger is the public blockchain And anyone can add an entry to that ledger transferring their bitcoins to someone else and anyone regardless of their nationality race religion Gender sex or credit worthiness can for absolutely no cost create a bitcoin address In order to receive payments digitally Bitcoin is the world's first globally accessible public money Is it perfect? no Neither was email when it was invented in 1972 Bitcoin's not the best money on every margin. It's not yet accepted everywhere It's not used often to quote prices and it's not always a stable store of value But it is working and the mere fact that it works without trusted intermediaries is amazing It's a computer science breakthrough And it will be as significant for freedom prosperity and human flourishing as the birth of the internet And bitcoin is just the beginning If we can replace private payments infrastructure, then we can replace other private choke points to human interaction as well now Why should we want to build more public infrastructure? Why should we embrace blockchains over corporate intermediaries? Why should we tolerate their inefficiencies and work to make them better? Why should we want the pioneers of this technology here in the united states and not fleeing overseas? a simple reason Because the corporate intermediaries providing today's critical but privately owned infrastructure Are becoming fewer Larger and more powerful and their failures are increasingly grave So roughly half of all americans 143 million people had their social security numbers exposed to hackers Because of a breach at Equifax The Swift network has relayed hundreds of millions of dollars in fraudulent transactions Because of hacked member banks in Bangladesh Vietnam Ecuador and Russia The FBI suspects now that the largest of these hacks was perpetrated by north korea Corrupt low-level employees at an indian bank Punjab national were able to fraudulently certify swift messages stealing 1.8 billion dollars It's the largest electronic bank robbery in history. In fact, it's the largest bank robbery in history in october 2016 An estimated 1.2 million internet connected devices were hacked and turned into a botnet that for several hours made prominent websites unavailable across europe and north america including cnn and fox news The new york times and the wall street journal increasingly Physical machines are being connected to the internet to augment their capabilities They're wired through servers that are owned and maintained by private and trusted intermediaries the so-called internet of things Pacemakers from st. Jude's hospital have been hacked Baby monitors from trend net have been hacked and jeeps From jeep have been hacked to the point where they can be remotely commandeered and driven off the road Now those vulnerabilities are inescapable in systems that have single points of failure It doesn't matter if the point of failure is a corporation or if it's a government This shouldn't be a single point of failure Similar choke points existed before the internet If you wanted to deliver a message You'd have to go through one of three television broadcasters or a handful of newspapers Private corporations are essential, but no critical infrastructure should rely on one or two The internet removed single points of failure in communications infrastructure and ushered in a wave of competition among new media corporations Building on top of its public rails Blockchains can similarly disintermediate critical payments and iot infrastructure The technology is not yet ready to answer all of those questions today, but it is our best hope And as with the internet in the 1990s We need a light touch pro innovation policy to ensure that these innovations flourish in america for the benefit and security of all americans Yeah, let's see if that comes to pass, but uh That was the whole crux of uh, we're trying to talk about here Which is a single point of failure. Look the government wants to do a digital dollar. Let them do those things Maybe it'll it'll solve some kind of problems people can use it. That's great But again if we're trying to take a look at what could potentially be a better outcome and a better A better way to do things no middleman Send out any kind of transaction that you want to don't have to ask for any kind of permission And then just use it on a global scale And the last thing I always think about is this Is i'm not going to use the digital you on and i don't know I don't know a lot of countries are going to want to use that and then as we go through a digital dollar Some some different countries will but you can never have enough trust Globally to actually use it and that's why it's a good thing to have a trustless type of system So anyhow, let me just think about that in the comment section and then now that we've talked about all the The good news the bad news I think we have to take a look at the reality and the reality right now Is that the market isn't that fantastic and who knows what's going to happen? So i'm not a financial advisor. I can't give you financial advice However, I would like to make mention that it's important to diversify just a little bit Here's my look at diversification cash and And some stables some dgem plays masterworks for actualized shares of our pieces land property stocks the amazon business staking of course, itress capital IRA and It's important to really think about the things that are working out right now. So Right now. I want to first of all want to thank Sponsored to the show masterworks. I appreciate it. I'm going to have on um, let's just look let's And uh, he me and him did a quick video which talked about Actually what talked about right here Which is paul alans this 1.5 billion sell which is going on right now in a bear market And when he talks about these things, I want you to listen. This is about four minutes or so Talk listen to what he talks about as far as finite The things that are scarce and how it also correlates to the crypto digital asset market, especially with art Again, not a financial advisor, but this is just what I have done personally. So just take a listen Help us understand what's going on in the interesting world of the art market alan sykolicki Chief financial officer. Thanks for coming back on and talking to us Thanks for having me on I appreciate it. Yeah, so this is interesting because right now you're beating You're beating the traditional markets. You're definitely crushing cryptocurrency and digital asset markets And there was a big story just came out paul alans art collection sets a record And I don't know how this is possible. It's it's a one and a half billion dollar sale And this is over two days and you guys are setting your breaking records right now in a bear market So not only that and you got a couple pieces. You sold the condo for 21 and a half percent appreciation 33 33 percent profit 27.3 percent brown And all in So alan just talk to us because it's hard for me to wrap my head around this What's going on in the art market? What what are we missing here? Yeah, I mean, uh, you know, it's one of the things that we've been saying over and over for several years now is If you want true true diversification You should consider investing in art and and it's it's even goes Farther than the diverse diversification you might get in other traditional asset classes, right? You might want to diversify your stocks with let's say bonds That gives you some level of diversification But probably not all the time this year would be a prime example because stocks are down 20 And bonds are down 15 percent. So you're not getting a whole lot of diversification benefits there But you get what I describe as true diversification out of investing in art and you know, we do often get the question Which is I don't really understand. I mean, how is it that the art market actually operates this way? Where right now? Literally in the midst of stock weakness bond weakness crypto weakness in the midst of all that You have a one and a half billion dollar art collection that just got sold How is that even possible? and the best answer that i've been able to come up with is that The art market has probably one of the most unique supply dynamics in it and what I mean by that is When you think about multi-million dollar paintings Each one of those paintings is the only one in existence There are no multiple versions of the same painting. They're they're all one of a kind so when you're talking about Price points in the art market that are multi-million dollars that typically already gives you the impression that These must be paintings that have been appreciated for a long time by many art collectors around the world. They're sort of There's a history. There's a provenance. There's a long held appreciation for them Otherwise, you know to be frank, how could they have gotten to multi-million dollars if that wasn't the case And so when you get to those levels You realize that you're basically owning an asset each one that is truly one of a kind that That's probably the most Attractive supply story that you could ever have in any investment that you're going to make where the one that you have Is the only one in existence and so going back to paul allen's You know collection that's that sold and by the way that one and a half billion that was just yesterday This is this is a two-day auction. So that was just yesterday um Basically the the collection they had several lots of paintings a lot by the way for Any of your viewers who might not be familiar in the auction market a lot just refers to A group of works that are all sort of sold together as a group or or a package in a sense but that's probably not the right word to use but There were several lots that sold for more than a hundred million dollars Several lots that sold for more than a hundred million dollars And again, this just goes back to the same thing that we've been repeating for several years now The art market moves to the beat of its own drum And this year has really allowed us to hammer that point home in real time Yeah, I I mean we know We know a lot about what you're talking about as far as the scarcity aspect aspect of it. What is finite? You know with of course with bitcoin, we have 21 million. It's it's hard code It'll never go above that other cryptos it that is not the case But when we talk about scarcity and the finite of certain assets that does make a lot of sense So to talk about this and When you guys first came, you know, we first started talking. I thought it was a pretty decent idea I'm like, oh, it sounds like you know a pretty good way to to it to diversify But now that I see what's going on with the s&p 500 nasdaq and of course the crypto market We just lost 400 billion dollars in the last 48 hours So I can definitely see how this was I mean for me I've got a couple I got a basket and I have a bank see and it's been a good thing because when when something goes down Like this also a couple of different stocks that I have and options I will also see that well, thank god. I got something that's going up and that's masterworks And that's kind of just goes around what we're talking about So Alan, I want to say again, thanks for stopping by we appreciate just you just taking the time to Come on out here. I will just say this this last piece and that is that the reason why we lost Those hundreds of billions of dollars really what what it comes down to is is an oversight and the ability to not take a look About what's going on behind the scenes and I have been talking about for for clarity for regulation and thankfully I mean with you guys here at masterworks Don't everybody forget that every single piece that they have is registered with the sec Because they are securities and you can find that information on their website I have a link down in the description and every single one they have Again, it is registered with the sec because they are securities if you're looking for more information Link in the description looks just like this and we also did a deep dive. So check that out again Alan I can't thank you enough for stopping by. Thank you very much All right easy peasy down to the business and that is it So look for tomorrow Today is tuesday, I believe wednesday We're gonna start doing some giveaways because uh, I gotta tell you I want Everybody to not make the same mistakes. I did which was lose my mnemonic phrases Which I lost uh cardano about 20 000 of those just disappeared in some god awful Who knows notebook that I had somewhere so we're gonna be giving away some shield folios this week and also A couple of ledgers because uh, let's be honest. I think we should all take them off And if you're just waiting this would be the time to do it So giveaways this week. We'll start tomorrow with a shield folio We'll finish up the week with an analyzer x and go from there But that's right now does it for the news So if you got to take off take off it's been 33 minutes. I appreciate you stopping by If you liked today's video or found some information useful Give it a thumbs up. I'll consider subscribing. Hopefully youtube notifies you probably not But uh, if you want to stick around that's great. I'll answer all your burning questions The best of my abilities right now is do a little q&a. So let's jump into the q&a Yeah, let's see. Let me give her this banner my favorite part of the favorite part of the show