 I'm gonna ask everybody to put in their questions. I got a couple right now So queue up your questions for Simon will ask him anything or ask myself and and we'll go from there Rasta man says Rob stop advertising coin ledger as it does too many mistakes You're gonna pay more on your taxes because that's stupid app your money. I love I love I love that I love the criticism I welcome it So here's the thing Rasta talk to me about what specifically is going on because guess what tomorrow? We're gonna be going live with the guys from coin ledger the CEO and David Kemmerer are one of the co-founders and also their CPA and their tax lawyer So you can ask him all these questions that are coming on so put it in the comments I'll ask them or just come back tomorrow tomorrow. Yeah, and we'll go over that Hello from Portugal. What a treat to have Simon on you said it It's good treat so I remember that that's a We got together for that that Twitter spaces with the Celsius squeezers. That was a good time, right? Boy, they've that's been the bane of my life for the last eight months, but they've really you know Helped me to check and you know, we've accumulated We got to the final point after eight months where I was like, okay The examiner reports out Mishinsky is officially a scammer of fraudster. You know, he manipulated the price of sell He enriched himself and there was massive manipulation. They didn't have the licenses. There was misrepresentations the whole way And still no, I thought we were just gonna rely upon that but they still found a way To make this all my fault as well. It's always we get man. You gotta there's always got to be a scapegoat brother. That's how it goes Well, if it gets creditors back a better result and I've got to be the scapegoat then then fine. I'll take that one Let's see. Oh Here's a good question. If you're in the US Do like I did and move to a crypto friendly country the pros out our way the cons Because some will Simon you're in the UK you guys are pretty pretty friendly over there. Oh Well, I used to live in the UK, but in our business we had to move to Hong Kong in 2015 We spent three years changing securities laws in the UK And after three years of reform We got the whole retail investors can invest in equity in Bitcoin companies That's because three years to achieve and then they said it was 2013 You can only deal with UK businesses and UK investors. There was no there was blockchain.com That was the only one we could find and there was few UK businesses and a few UK investors So we actually had to relocate to Hong Kong and I don't live in the UK anymore. I live in the island man Which just has a very Life is simple for me. I'm not saying this right for everybody But in the island man, you just have this thing called a tax cap So you just pay one annual fee no matter how much you make no matter how much you earn What your heart out and do whatever you need to do with your Bitcoin Well, what's it again? So you're like it's just one fee for everybody no matter what you earn Yes, so my tax return just consists of Paying an annual fee a tax cap Which you don't you know, that's the maximum amount of tax that you pay and you just pay it every year one fee And you can earn and make as much as you want. Holy smokes. So everybody remember that's Hong Kong I love man not a bad place to go to Problem is is if you're American because uncle sugar wants to keep you in America no matter where you go This is well, this would be the thing. I think you'd have to renounce your citizenship Right. Yeah. Oh, yeah, yeah Puerto Rico I mean on Puerto Rico at least there's you know, that's where we live is You still you still have to pay federal taxes, but you don't have to pay Capital gains tax depending on how you do it act to act 60 and then There's some different provisions and things to pay for but then all in all it's not bad. I mean Peter Schiff lives here. So, you know, how bad can I be? All right This is cat a code or ask a good question US citizens wanting to trade on exchanges outside of the US Legally is the approach to get a second citizenship or do you have to renounce? I have no idea on this one I don't I just use coin base these days and that's it. I don't know if you got any It's an interesting question because you know for a bank to the future. It doesn't matter where we are It doesn't matter It's the residency of the individual customer or the investor that counts So as soon as we take on a US investor, you know, we have to comply with SEC regulations in that transaction Whether we're abroad or not But you as an individual if you want to get outside the protections of the SEC It's it's a tricky thing to do in America more than anywhere else I know some countries they have wealth taxes and exit taxes and various other stuff But America is one of the only countries in the world that no matter where you live They want to keep you American forever as a tax resident Yeah, they love you to death to death as long as you pay your taxes Also guys, I forgot to make mention of if you're looking for Simon Dixon's channel I put in the links in the description Actually, it's like thank the first one Simon Dixon video which will take you to his channel and again I do this really good breakdown of the stablecoin attack and the things that we went over just a lot more detail a lot more Concise without me interrupting with questions. So go check that out and his channel and I think this comes down to I think this is the last one We normally get a question from someone saying they hate my clocks that always comes They hate your what your clocks they hate my clock and lamps and think I'm a Saudi Arabian King or something dictator I always thought like like some I think when I first saw some of your shows I'm like I always thought that you were like James Bond villain because you had like some really cool stuff in the background and then like Yeah, the ocean so that was pretty cool Here's a question. What's gonna happen to be USD does it only apply to US customers because as I understand it The SEC saying you can't to Paxos Well, it's the Paxos who issues it and they say shut it down And they're gonna let allow them till February 2024 to redeem. Is that right? Yeah, so This is the interesting point when you dig a little bit deeper. So it turns out that BUSD was split into two different things So you had the BUSD that was issued by Paxos and this is the issues And they've the the New York has said you've got to stop issuing that and then Paxos has said we won't we discontinue that But Binance was actually bridging that onto other chains, which wasn't going via Paxos now This really is the issue of all issues is Are we going to have to sanction US customers from stable coins? And if we are gonna have to do that then the next stable coins gonna have to think figure out on-chain KYC travel rules and all the things that pretty much Turn a stable coin into a CBDC issued by a private company So that it's very important, you know, because it's not quite a case of you could sanction You could take US out at the exchange centralized level Yeah, but you know as tether is experiencing if you're you you can use tether in the US It's registered as a money service business, but you know, uh, this is an interesting challenge ahead I gotta agree. I don't know It's gonna be a long drawn-out process And of course gary's gonna be right in the middle of it and then uh, lastly because I know simon's got things to do today Uh Voyager I just received an email from voyager starting to start a finance account in order to retrieve my assets This is uh for us customers Would you guys recommend that move being that binance is having problems too? Like look here's what I've done because They still have my documentation as living in texas and texas is not an authorized state for binance us So for me like they they say they're gonna try to work on a money transmitter license throughout these different states And uh, if texas doesn't get it and they're just going to say we're gonna give you your lump sum and cash That's really what's gonna really down turn out to so for me I'm pretty much stuck in in that one Because I left a good amount of crypto on there And then of course with celsius who knows what's gonna happen with that I got a nice six figures just sitting there, which will probably get liquidated So for me, that's what's gonna happen for you for binance. I mean look This is my personal opinion. I can't vouch for binance, but so far they're doing they're still solvents I haven't seen a problem. They've had a massive outflow As the they had these different problems that were that were coming up as cz said It's just fud and they were able to weather the storm. Does that mean you should leave your crypto on an exchange? No, it does not I got these rules Which are right below simon right now and one of them is zero percent of exchanges meaning don't leave your crypto on exchanges So if they do do that Get an analyzer get a trace or take it off and go from there simon anything Just talk about with that one Yeah, yeah, I mean I can give you a quick synopsis on the on the chapter 11 So in voyager case, obviously binance won the bids after ftx blew up and tried to take out binance in the process And then binance took out ftx in the process And a very complication complicated term sheet was sent through um, you expect to get approximately 50 percent of your crypto, but The the algorithm that they put together in order to buy back your crypto and put it on another exchange It is very complex. Um, so You may end up with 50 percent of your coins on binance the alternative as rob as rob said is that They have six months to apply for a license if they don't get that license then they're going to sell for your coins for cash, so Personally, uh, I would use binance as a mechanism For getting my coins off as fast as possible And the thing that I you know the main thing that I would be concerned about with binance is more If they had a catastrophic 90 collapse of the bmb coin Were they marking that coin to market and was that trying to hide a hole similar to Ftx that's the big question Do we know the answer to that? Absolutely. No one knows the answer because they don't publish or order so you can't you actually don't know That's the problem. Um, so it's a risk one Would have to take so use it as rob said to try and get your your funds off as fast as possible If you don't want to take that risk, then it's cash And you're at the mercy of the markets. Um, depending on what the price is When they do that On the Celsius side, uh, there's actually a court hearing tomorrow Where Celsius still are yet to put together a plan eight months later and I've already given them four different plans Throughout this whole process They also had bids that in court The lawyers Kirkland and Ellis lied in court saying That none of the bids allowed people to get their equity or liquid assets And our bid did and it was leaked by Tiffany Fong Um, and there was other bids that did as well. So literally they got caught lying in court So Celsius is uh, is a real bad actor at this stage and now, uh, uh yesterday It hit the docket that a bunch of regulators have all just said Um, the ucc objected to them extending. We had to lobby them all the u.s. trustee representing the department of justice Um, it said you can't extend exclusivity a lot of creditors And uh, and and now 40, you know about 18 different regulators said we don't believe you've got a plan We think you're going to run out of money before you actually release a plan Um, and so they've said the 15th of february is the deadline Compare that with block fire on day one. They released a plan. They're already in the bidding process They're getting ready for that voyager already through the auction genesis chairman. I they've already negotiated to deal with digital currency group And Celsius still is the only one that doesn't doesn't have a plan. So these chapter 11's they've turned out to be The biggest scam I have ever been involved with for protecting companies that have committed untold off fraud Um, and the lawyers are the ones that get paid essentially What they do in chapter 11 from my experience Is the lawyers make it legal to do what spf did spend client money on lawyers And a hundred million dollars later We're told that if you don't release a plan you're going to have to liquidate which we could have done from day one. What a scam Sonam Do you hear that? Do you hear that that's the sound of my blood pressure? Going way way higher. So on that note, I will just say to everybody This is the video that I was talking about. There's also a link in the description. So I put it here I will post it. Uh, I will pin it to the top of comments and you can also find in the description Check out simon for more great alpha and follow up on Celsius and things like that. I gotta say simon I'm right there with you. I'm sad And disheartened that I ever talked about Celsius and and had The scamster on the show and with that that is it. So look everybody Thanks for stopping by we appreciate shift like today's video give it a thumbs up consider subscribing all that good stuff Go check out simon and that's it for today. So everybody have a good day. We'll see you guys on the next one Ah the oh so