 Great well, there's a lot of sad news think it's out of stores and crypto I get on a bite-sized piece is all that good stuff So today We're gonna go over just a couple of news items that have piqued my fancy as far as what is going on And we're gonna talk about how China somehow is back into the Bitcoin mining game And just so you know there will be a ban happening and very quickly like I say three two one Here comes a ban from China. So don't be concerned. This is very normal Also, I'll take a look at some concerning consumer data Especially with we see that there's an economic downturn and potentially a recession in the future And also we'll talk about how stablecoin regulation is heating up we've got the Celsius CEO which we had on yesterday Alex Moshinsky and His thoughts on that we'll go over that quickly and then also how there is Congress is being asked to actually do Something for once about it and we'll go for a lot and then at the very end We'll do a Q&A so hold your question until the end. So first of all, thanks for stopping For the live stream. I appreciate it Just you know, we'll have time stamps below so you can skip around to where you want to because time is valuable But it just makes sense to go all the way through but What we want to do real quick is take a look at a little market recap. So I gotta tell you Not that I'm shocked at You know just the sideways action except for a theorem man 8.6 percent in the last seven days But again up 1.1 again, it's very choppy sideways. So if you're a trader, this is a pretty good time a little bit of chop Sideways a little bit little tiny inferences back and forth But what was surprising to me is when I was getting this this video done Are actually set up see where it says right here the global The global crypto market is 1.35 trillion a 1.1 percent increase just an hour ago It said 1.8 percent and when I take a look at the S&P 500 This was just going straight up and it was looking pretty good and the same thing was happening with Nasdaq But as you can see as this goes down and also S&P goes down slightly So do we slightly so we went from 1.1 percent to 1 or 1.8 percent to 1.1 So it's very closely correlated in my humble opinion Let me know what you think about that in the comment section But that is what it is That's the basics of what's going on in our market kind of boring I must I must say but the boring times I have to tell you is where I made all my money and That leaves me to my next point because I don't know how long you've been here in this space if you've been here since 2011 or 15 or 17 like me or in 2022 I just have to bring this up to your attention because so you know exactly what's gonna happen in the future now I have no crystal ball. I have no idea exactly if this is definitely gonna happen But if history is any any teacher it's going to and there's a pretty famous meme I like to always bring up which is the China ban the China ban For Bitcoin is pretty prevalent and it happens all the time so we're gonna take a look at a story which Miraculously shows that Bitcoin miners from China have increased by you know 20% in a very short amount of time so but just so you know as Bitcoin becomes more used or Bitcoin miners come out or maybe even there's some more trade in China There at some point will be another China Bitcoin ban and it will be all over CNBC and MSNBC and it will cause fear to people say wow This economic superpower that is China has just banned Bitcoin So it's all gonna go down the tubes and if you've been here for any length of time You know how ridiculous that is because it happens all the time But it's a good opportunity to let the people who are unaware Start to sell because they get scared and you just sit on the sidelines and just go Hmm, I'll just wait for this to maybe have an opportunity for myself. That's not investment advice Just investment opinion and it's what I will be doing when that eventual ban does come into play so it all comes down to this story on On a multiple publications, but this is from Yahoo Finance and it states China may have massive Underground Bitcoin mining despite a ban last year and this is what we have So there's data from the Cambridge Center for alternative finance on Tuesday And we're gonna take a look at that in a second because I don't think This data is lining up from this Information and where they pulled up, but sure It states from last September to January traffic from China accounted for about 20% of Bitcoins total hash rate 20% and of course in 2017 16 15 it was massive I'm pretty sure it was over 50% and there was a big uproar about Decentralization is and was Bitcoin truly decentralized if if one country was doing all the mining now Of course, I've learned some things along the way and I understand it That's if you're a Bitcoin miner you can plug into any pool that you want to Wherever you are from if you're from New Jersey or something or Australia you can you could have Put into any of those Bitcoin mining pools in China But you could have just as easily pulled the plug and done one in You know the United States or Canada or wherever else it was So it's not like back in the day. It was just solely China, but there was a lot of data mining pools there Just depends on how many actual Bitcoin miners so anyhow China recovered quickly last year after the ban after showing virtually no activity from China in August It was back up to 22.3% of the Bitcoin hash rate the following month. It's pretty fast And the question that I had is well, how'd that happen because if if China if you know the Communist the CCP China Communist Party comes in and says look you can't do that. We're gonna ban it all we're gonna shut off the electricity You can't mine Bitcoin. You can't do anything with Bitcoin You can do anything with a digital you on which is on blockchain But it's all centralized but nothing with bitcoins the question was well How the heck did they do that so fast? This is what it states access to off-grid electricity and geographically scattered small-scale operations among the major means used by underground miners to hide their operations from authorities and Circumvent the ban and if you want to just take a look as far as like just how powerful China was as far as the hash rate This was a pretty good indicator back in 2019. It was like I'm looking at this right about 75% holy smokes And then of course it just dwindled and there was a China ban in June or so 2021 and then there wasn't really nothing And then here we are yet again with China doing their thing. So again, it comes down to how they're doing this This is from data service. They said miners in China use a VPN And trying to use too much energy from a single spot So the electrical company cannot detect any strange energy consumption I found that interesting that if using a VPN connection, I believe it it hides your IP address I think that's how it works and then if we take a look at the data that they pulled this from This is the the Cambridge Bitcoin electricity consumption index. Here's the visual visualization Unfortunately for this one only goes to December 2021. You can do whatever data points you want Uh, but you know, you can see here us pretty good a lot of Bitcoin mining going on mostly or a large part in Texas I uh, I that's my state that I live in right now, but I usually live in Puerto Rico for a majority of the year So that's good. Then of course you got Florida zero points that not too much This was surprising to me California almost eight percent and this was even more surprising Georgia Georgia 30 percent average monthly hash rate November 21 and we hear all these stories about Texas, but that I guess not and then of course there's also a big one in New York and then also Kentucky sure 11% then we take a look at mainland China Of course, there's a big huge in Xinjiang And what's this one right here? Uh, six one nailed it But the the the question I had was how are they how do they pull this and they said right here data collection We partner pull this up We partner with several bitcoin mining pools to collect geo locational mining facility data in a non-obtrusive and privacy preserving manner this geo Locational data is based on IP addresses of mining facility operators or hashers that connect the servers of mining pools So again, uh, if they're using VPNs, not for sure how that work But that's the data that we have so there's that part and again, just so you know Just because that there is this this mining operation going on in china, of course, you will see a ban Eminent at some point in the very near future, but I will say that bitcoin mining and the reason why I bring this up is because Bitcoin mining itself You can look at it in a couple different ways. You can look at it as Securing the network you can look at it as you know corporations just fitting the bottom line But for me what I look at this I look at this is job creation And if you're not from the united states, we are in the mid term year So in november we're going to be voting and we'll see who actually keeps their job as far as congress and senate and uh, I will say that job creation and the economy is the number one At least one of the major ones that's That's all these politicians are looking at and trying to make favorable to their constituents And when I see stuff like this, I'm like, this is great job creation So if you can have a state where you're bringing a lot of people I think that's what people will actually vote for and go we want to be a part of that And texas is no different. What happened just today or actually report from yesterday Texas Pacific Is one of the largest landowners in texas and they've partnered with a digital infrastructure provider, uh, which is known as uh, J energy and they're going to be creating a bitcoin mining operation in west texas where I live So it states right here texas specific land corp one of the largest landowners in texas Moss infrastructure group and j energy have partnered to build up 60 megawatts of bitcoin mining capacity In west texas and this was what was surprising to me construction is expected again within the second quarter of 2022 Which is that's right now and within For functionality They're not expected to be functional until the fourth quarter of 2020. That's very fast That's way faster than congress can move And uh, I just again I look at this and I go this is just One of the many things of of why when people say, ah Crypto's gonna go away and you know, it's gonna go to zero. No, it's not it's not Because of things like this and of course they can tax those operations They can tax the land that they're actually built it on and uh, they can also tax the capital gains that you and I share So When we talk about these things going away, I don't think so. Also, this was a story we covered a couple couple weeks ago Fort worth is the first thing in the u.s to mine bitcoin and they're doing it out of city hall They got three bitcoin at minor s9 mining rigs run 24 hours a day seven days a week and a climate controlled It wing of fort worth city hall. So again, when I take a look at this, I think to myself, man if we See where things are going. I think it's actually the future is pretty bright just right now Looks a little bit bleak because of where we're at but again bear markets Bull markets all the money that I've ever made in crypto or the majority has been when I have accumulated Slowly and just dollar cost average and just so you know, I was dollar cost averaging luna When it collapsed But thankfully I didn't put a big bunch of money into it because we never know and uh, that's For me, I think it's the safest option over time things kind of work out and I lost thousands of dollars And at least it wasn't life savings like the things that I've heard So if that's you I'm sorry to hear that anyhow, let me just think about that in the comment section And let's finish up. Actually we're going pretty quick today consumer data so this was a little piece from Charlie Baleo If you don't know this gentleman, he is the CEO of compound capital always has the greatest stuff So if you're if you're on twitter give this guy a follow. He's always got uh Great information that's happening and he says How is us consumers spending still so strong? Despite inflation outpacing wage for 13 months Americans are saving less with the savings rate moving to 6.2 percent so that you can take a look at this as either positive or negative So the savings in america 6.2 percent, right? That's the lowest It's been since 2013. It looks like so the question that I have Is uh, first of all if people aren't saving Then what are they doing? Maybe people are investing. I hope Maybe they're they've the majority of people have figured it out like hey if I just save this money It just gets inflated away anyhow So maybe I should put it into I don't know maybe some stocks even though we're over inflated Maybe some real estate even that's ever inflated or maybe some distressed assets like in crypto. Hopefully I don't think that actually is the case And this has actually come down to here Where I think there's a bigger problem brewing and charlie says They are also borrowing at an increasing rate to maintain their current standard of living so These people they're not saving because they don't only they have money to save I think because of the cpi ppi numbers and inflation rate People have to actually buy the same goods The melks the eggs gas And the rages aren't matching up with the inflation And the different prices that are out there. So they're not savings. They're not saving because they don't have the money to save And then what are they doing here? They're also borrowing at an increased rate US consumer credit rose 7.3 of the last year the highest rate of increase in over a decade So if you put these two together, it's a little concerning. You don't you can't save You need to buy some things. You don't have the money. So you take it on a credit credit cards, whatever your interest rate is and consumer credit rose, I mean you can see Right now it's the highest it's been in a decade. So those are just some concerning numbers We'll see how it all plays out and show you to think about that and let's finish up with everybody's least favorite topic Sorry to say that but it's true regulation and If you've been on the channel any length of time, you know my stance I just Think we need to be adults in the room and just say let's get it over with you're gonna do it anyhow So let's just give us the rules so we know what we can bend. We know where we can win and When we're talking about these institutional investors coming in you have to understand There's and james talks about this on invest answers a lot Where he's like there's a wall of money coming in there's a wall of money. There's a massive amount of money coming in I agree with them. There is The problem is these institutions They are risk sometimes not all the time But a lot of times they are risk aversive and they don't want to put their money into something that's uh, Can just you know evaporate away take a look at luna So I think a lot of them want to see a little regulation before they can say, you know what? The stock market is over inflated. You can't put it into real estate bonds are a joke Maybe it was a great asymmetrical bet we can put into crypto and guess what this little regulation to put us in there But there's a flip side to all that And the flip side of all that Is what we just talked about here With the nasdaq They will treat us these institutions. I believe Like a redheaded stepchild for quite some time Because they will look at us as just that play thing where there's there's an asymmetrical bet The real smart ones will get it and they'll see the future Like a michael sailor like a bill miller like a paul tooter jones They'll get it but allies institutions look at this and go, you know what this is This is just us the ability to get rich and you see it right now They invest into it. We've got a 1.3 trillion mark cap, which is paltry compared to everything else I mean for pete sakes gold is 12 trillion The stock market is 286 trillion Real estate is 387 trillion and derivatives is over a quadrillion So 1.3 trillion market cap is as peanuts to these guys So when they get into this, I don't think they're really going to treat it like a serious asset only the smart ones will Which is why we need regulation just a little bit and I know you're going to sound off in the comment section Go right ahead. I've taken the shelf shelves before That's just how it is So this comes down to Uh, this is us rep josh godheimer democrat new jersey and he's no slouch He's on the blockchain committee It's about four minutes or so and he's going to talk about stablecoin regulation You're going to hear the frustration in these people's voices because congress can't get things done They can't get things done because the dragon their feet I'm going to let you talk about why that actually is in the comment section But this is the exact same thing that me and alex meshinsky from celsius were talking about Alex is not a big regulation guy Obviously with celsius, but when we talked about and I linked this video in the description Alex even alex meshinsky was like listen man We need regulation for stablecoins. This is ridiculous. I mean he didn't say that was exact words But he did say yeah when we need regulation. He totally agree with me. I was like holy smokes. Can't believe that actually happened so Take a listen to this Uh, hear the frustration and then also when you're watching this from this is a squawk box It's amazing to me that in 2020 we're in 2022 right now 2022 That we have so much coverage of crypto and where things are going It is amazing to me because in 2017 when I got none of this stuff was on it was all a joke in all honesty So hold on. Let me let me stop the screen real quick Oh, I wish stream yard would fix this part. That's okay and we share my Tab so you can hear it. I want to play this on a mute myself. It's about three and a half minutes or so But just listen to this pretty interesting Was so concerning because it was such a quick drop and because it seemed to have so many implications for other areas of the markets Seems like people had to sell some of their winners and other places to pay for things But maybe they were long on margin and that's what's causing concern. Where where is the regulatory perspective at this point? I mean, I think you're exactly right What was very concerning about last week with terror and tether and others was the quick run on the market And what many of us have been concerned about and and working frankly with with those in the space You know Innovators and entrepreneurs is how do we give some more certainty to the marketplace and ensure that when you have a stable coin It's actually qualified. That's what my my legislation. I'm working on does it says it should actually be backed by US dollars or equivalents So you know what's behind your stable coin and you know there So it prevents runs on the marketplace and that consumers who are in the space don't suddenly find themselves with nothing In in a matter of seconds and and that's that's been our issue Our legislation actually says either can be banked or non banked if you want as a as a cryptocurrency to define yourself as a stable coin But to be qualified you actually be backed by one to one by the u.s. Currency And it also defines the regulator as the occ right now, you know, there's great uncertainty actually who oversees the space It's causing a mass exodus of of companies out of the united states to other countries Or the they're founding they're laying laying ground for their new companies in bermuda and bahamas or our france and not in the united states We want to make sure that we Have this market that the jobs are here that the innovation is here But I think that it requires legislation. That's what exactly what we're working on Just wish which of the stable coins actually would qualify under the constraints that you've laid out in this legislation I mean it was a surprise to see tether Under so much pressure last week because it was supposed to be the biggest and the most reliable Well, there are several as you know that are actually backed but part part of the concern right now is that that it's unclear even as you know It's a tether claims has claimed that they're actually backed But it's unclear what they're backed by how much is by us currency versus An equivalence versus versus not so I think that's exactly the kind of requirement We need to put forward and for people to be qualified and to get people at certainty if they want to be a stable coin That's how they're going to find themselves and and they're going to actually have to show Their investors Where are those resources are, you know? It's crazy right now that you could actually develop a stable coin and and not not be backed by anything And then people go into it and suddenly you know, they read these websites I hear from my constituents all the time about it They the website says don't worry if there's a problem. It's insured and suddenly they have a problem There's some theft. We know there's been hacking. There's been terror issues And and there's literally nothing there To actually protect them So those are the kind of things we got to be vigilant on to make sure innovation can happen protect consumers But also allow the space to grow and flourish. It's very exciting and we want to make sure we've got The pole position. I don't understand this. We've had two presidents working working group papers on this issue Starting back as as early as december 2020. Why is this taking so long? What is happening? Where where are you? Where is the sec I mean come on Well, as you know, I don't speak for the sec or the cftc I've been pushing them to actually come out with some rules of the road here, right? And the executive action the presence of active action took steps But the reason why we're working on this and I'm working with not just democrats but republicans We've been taking a ton of input and hope to put out our drop our legislation The drafts is out there. You could find that on my website right now But when we're going to officially put it out We've got to pass this thing and part of what's been very frustrating is and you know how this is Right that that people actually don't they're looking for every excuse not to do something I'm saying is we have no time here. We cannot wait. We need to give this certainty Uh to prevent exactly what happened last week Yeah, so There you go. And uh, hopefully let me stop that Hopefully he's right, you know, hopefully they can get something's going but we both know Excuse me when we both like um Yeah, we both know me and you we both know that uh, congress is going to drag their feet and it's not like gary ginsler I think beardy day said it pretty funny. He goes protect me harder gary You we know that they're going to drag their feet because if they give regularly This is my personal pain if they give us regulate they give us clarity They say this is a currency OCC deals with that. This is a commodity cftc deals with that. This is security sec deals with that and also if you want to be a stable coin We're going to do a intermittent audits to make sure that you're not some fly-by-not operation And it's going to collapse you're going to have to have it back to something which is why usdc is You know on the forefront. I think if you can just get that Just get those simple things in place It'll open up a whole new spectrum that people can actually come in here and invest This is just my thing. Uh, this is just the the things that I think about let me know what you think in the comment section and then uh, that is Uh Essentially a for today. I will say I will end up with this uh, which is it's I am What I'm doing here For myself is just non-investment advice investment, right dollar cost average. I just do that every single day And uh, if there's a huge enormous dip, then it's then at some point I'll actually buy up those dips I'm done buying every single dip. You know people say you're buy every dip Maybe so I just dollar cost average and when I'm dollar cost average today is bitcoin or theorem It's the safest thing right now and I'm waiting for for bottoms or I'm waiting for some kind of verification I don't know where it is. So that's what I'm doing But for people out there who are like, where do I park my money? And I think this is a bigger thing that you have to want to might want to think about It's always about where do I want to park my money because we know it stocks are over inflated And the reason why they're over inflated is because the Fed reserve bought all those ETFs and all the money printing The bonds are not a great place and don't even get me started with Real estate. I mean that is like super over inflated right now Even the prices are going down because interest rates are going up, which is great Uh, so the question then is where do you park your money? You can just park it here. That's fine But for some of you, this is what I've been doing five percent Of my portfolio. There's this thing. It's called artwork And I do this thing called masterworks and I want to just to point this out to you one thing This was on 13th of may 2022 let me show it to you Do you know that as bad as the market has been? choppy and sideways, do you know that uh over at christie's There was a they've exceeded a billion dollar in sales of art You know why because rich people don't really care that much about the economy itself if they want an art piece like Andy warhol and uh maryland monroe painting They're gonna pay for it and that's why I put five percent as a little hedge With masterworks 400,000 investors access to explosive blue chip art investments. They're getting at 14.3 percent Which outstrips inflation? Just so you know link in the description looks just like this and just so you know, it's an affiliate link So if you can't stand me or using affiliate links, don't use it Just go right to masterworks Try to skip the wait line and just check it out When I did when I went through it, they just set me up I talked to somebody for 30 minutes and they said what's your goals and I told them what my goals are I'm like that's different than the last person. So we'll taper with this and uh, that's how it all works So yes a little shilling, but uh, you know what a little shilling never hurt anybody and that's why well, you know Because I'm this All right, that's it. So look that's it for today's video So if you like today's uh video give it a thumbs up consider subscribing and all that good stuff You got to go take off time is precious. Let's go over a little q&a. This ought to be interesting after that After that regulation comments. All right Let me put this down Banners there just so I can tape it in. Okay, first of all Ah modern samurai Haven't seen this guy. Hey, I haven't seen you in a while man Uh, no comment about the pink salmon shirt. That's fine. Slow study 801 the race. I think so Why not Cardano is the only one that's been 100 uptime forever And just that they're a little bit slow, but uh, I think we see that's uh, how slow is actually good sometimes Give me a show. It's funny. Okay. Here's the ones that I saw God damn this was funny. Beardy protect me harder gary. Hey whatever Jack says we'll put more regulations at almost nobody I know nobody's believe me in this space I am a black sheep just by bring up that word regulation We'll see I've been totally wrong But uh, I think it's good for institutions. But again, even when institutions come in, it's not good Like I talked about I had a step child a lot stuff Uh, connie got a great question. Uh, Rob yesterday alex alex meshinsky from south He said he deserved a badge bonner for taking said coins out of said protocol He's talking about but I suppose and saved the day How did he save the day when I lost almond money when u s t d pegged? I don't know if he was talking about that or if he was talking about He's had a little argument with bitcoin maxis and it's a pretty good video I linked it in the description. Watch go ahead and check it out. And what he I thought he was talking about was He was he was comparing the the this gentleman from from swan bitcoin and said look We are actually helping out people who don't know how to custody their bitcoin And because of you guys saying to custody everything 30 percent of bitcoin has been lost because people lose their keys and whatever else So I had to give him a little pushback. I'm like, come on out I think most people can actually do that But some people cannot and I gave my example who that is so I think maybe he's talking about that But yeah, uh, I have heard of instances of us t and luna not being off The exchange is fast enough because they couldn't get it out there for the transaction time frame I don't tell you on that one. It's a it's a bad situation and You know there's two two two ways to look at it and um I think It's it's hard either way because some people not me But some people will say well all these people should lose all their money because they didn't do their own research They didn't get really into it and then and they they lost it all. I personally don't think that's that's the case I think there's a lot of smart people who are talking about luna and how great it was And uh, if even they like let's take a look at it Do you think do you think mike nova gratz did his own research? Do you think his team at galaxy digital were like, well, it's just invested to it sounds decent I guarantee they did a lot of research and there's things that they missed I think we all missed and now here we are And then the other way is uh, we take a look at and go maybe we should never You know if you're a bitcoin maxi they always talk about it's an s-coin. I should have Invest into it. I personally think That uh, it could have been a great thing But if you look at the history of dokuan, this is one thing that nobody knew until later, which dokuan Founder of terraluna. He had actually tried to do An algorithmically stable coin before and it failed miserably and he tried it again and it failed miserably so when we take a look at those things, it's just How you gonna know that? I don't know anyhow Uh global traveler to everyone here near the bottom. We're gonna make it people's think it's it's we're at the bottom already And we're going to alex machines. He says he thinks the bottom is 25k and that's where it bounced off of I I have no idea and to me um I'm never gonna time the bottom Not that smart. I'm never gonna time the top but it's It's like actually baren rothschild said that one the one the rothschild They said uh rothschilds. They said he said I made all my money by Never selling the top and never buying the bottom meaning as smart as they were and as much influence and insider information They had they still couldn't time the tops or the bottoms I don't think you ever will either unless you know something they contact me directly But I think it's just for me. That's why idyllic cost average every single day by bitcoin ethereum And uh as time goes on I think well, I'll I'll be okay. I can't tell you what to do So that's it and um, let me see. What else did I miss? Al goes the only algorithmic stable Anthony scaramucci seems to think so he put a quarter of a billion dollars into it from bridge capital. So we'll see Uh, let me I'll get to you in a second. Sorry Fishbowl says I think the bottom is 12 to 20. Let me ask you guys a question When you see those 12 to 20 Like I've seen 8 000 is the bottom when you see those things Does it make you scared or do you get heart palpitations? Or are you like bringing on because I'm gonna buy that at 8 000 dollars. That's the bigger question and I think that's because we talk about this every every time like, um My bottom for me. I bought bitcoin at 6500. So Uh, it's it's not so much of a big thing. Even if it goes down and I'm like, well, you know It is what it is. I'll probably still buy it because I still believe in it the question then is, you know, how when did you get in and uh At some point you were watching this if you got in 2021 or 2022 you're gonna be just like me and they're gonna be in 2026 You're gonna be sitting there going I look at these people got in 2025 I know how scared you are because I was the same way and it's it's just it's just uh, It just repeats just like that china story. It just repeats again again again It's just all cycles and I still think that the four-year cycles have worked out pretty well I'll talk about that in another another video Uh Thanks, I got one person on my side Uh, everyone is against regulation. We think we can fight it. It won't come. Well, you're dreaming because that's true I agree with rob. Let's get it over with. Let's throw the band-aid off. Let's do it Um I was trying to ban something that was already banned. I'll tell you exactly how mark this They're gonna come out one of the ccp newspapers. They're gonna say there's gonna be a crackdown On bitcoin miners and we're gonna sweep across the nation and we're gonna find them and we're gonna shut them down with prejudice And we're going to stop them from using the electricity for the for the chinese people because we've already banned it And here it comes. That's how it's gonna happen. They're not gonna say ban They're gonna say crackdown or some kind of derivative of whatever that term is and it's gonna scare people And that's just how it is. So just be ready for it. Have your fresh powder on the sidelines bitcoin is zero Money does make people salty That's why i'm hoping for you guys can get some what I call escape velocity Escape velocity is where I mean some people might call it f u money But I call it escape velocity sounds better escape velocity is like well I don't have to you know rely on a job. I can do my investments. I live off my investments I have residual income. That's the greatest and I've been doing that since 2015 Uh for my online businesses and it's worked out pretty well And that's what I hope for you to get at some point. It'll happen. It just takes a long time. Remember I'm old guy I got kids and grandkids. So like it just took me a little bit of time That's all and I think if you're here right now, I think you're gonna be well ahead of of my time curve. That's what it is all right It's a great question. Which do you foresee coming sooner better home prices or moving out of crypto winter? I Think we'll probably move out a crypto winter first before the home prices will do better remember Uh, those interest rates are climbing and as the interest rates climb Then the potential buyers are like well Maybe it's not for me Maybe I'll just rent for another year or so and then save up some money because they take a look at the uh, the Immortization table, which is all for your for your payments I think that's going to take a little bit more time. Also, there's also an issue with the supply. There's still a low amount of supply For houses and I've been I've even in here in El Paso I talked to a real estate agent a couple a couple weeks ago And she said yeah, it's it's hard for us to get in because there's not as much supply So what does that mean? That means that there's more construction going on That means that of course the price of of lumber nails and cement and everything else is still high So it's still going to keep the cost up So I don't think that'll come out now crypto winter Get a little regulation and you know what get a spot etf and and that'll change everything Do I think the spot etf is coming? Nope, but I would like to see it Yeah, that's for me and that's for me and james do not agree at all Oh, yeah, I'm old I say you're in 40s. I am as my 40s But am I and the trick is to get in early All right So let's see. I think that's it. I miss anything Okay, one more Well, there's two more and this is a good question. Do you think we need to look into tether? I don't think we need to look into other I think if this pat this passes Then the congress will look into tether and then we can all fight figure it out. We can all say, okay Well, it's fine because now we took a look at the financials now there was an audit done by a company in the Caribbean. I want to say bermuda and Or maybe it was a virgin islands. They did an independent audit and found that it was backed fine by either cash or some amount of derivatives or some type of assets They said it was good So we'll see. Uh, so do we have to worry about tether right now? No, I don't think so Unless an audit comes out by the government government agency is going there and say, where's it all at and it's not there But is that a guarantee? No, it's not. I just like using usdc. It just makes sense for me because Alistar I've got the guys the ceo. He's set before congress. He's submitted the paperwork and all the documents and said This is how we are collateralized and it is collateralized. So that's it And I just Des is older than me Still making it, baby Thanks, Devin I appreciate you I'll ask you this. So amazon fba. That's a pretty easy business Uh, do you believe what's the the future of private label? So Amazon has it's just like youtube it has an algorithm and the way that they, you know, do things is just different Different setups that you can do and whatnot. So private label for right now I don't think it's it's It's as lucrative As you might think I think for like what I've always done is just I can only tell you what I've done Which is I go to manufacturers Well, I don't personally go I asked them for their spreadsheets. What do you guys have? I run through through a program I take a look at like an arbitrage and say well, this is going to do pretty well like yoga towels or whatever This is going to do pretty well. I'll buy those at five bucks a piece And then you know They make a profit because it's only three bucks a piece from then to produce it Then of course I sell it on amazon for 20 bucks, but amazon takes their cut Jerks and then I make so much but I don't really have to do so much But private label actually getting your product and then just saying okay. I'm going to strip off that yoga towels label of whatever Namaste Inc I'm going to put my stamp on it digital asset news You can do that But it's just a lot more a lot more work And of course you have to make sure that yours you find yourself in that algorithm So where people actually find it as opposed to say namaste yoga mat because they have they've been there forever Well, that went off the rails fast. Okay, that's it for everybody So we're going about 40 minutes and that's it for today. So look everybody. Thanks so much for stopping by I do appreciate it and I know it's Again, it seems like this is like the the bad times But it's all how you look at it and I know that some people will say hey I was supposed to be a millionaire already. What the hell happened? Well, I thought the same thing in 2018 now was the time to say, okay I know There's an asymmetrical bet Maybe this is the time to do that side hustle or to get some extra funds and actually to invest because I gotta tell you If you're an investor right now You are not like everybody else a lot of people they Either waste their money or they have to use their money for living expenses And if you're able to invest I think now is a time just an opinion All right, so that's it. So thanks so much everybody. I do appreciate it and I'll see you on the next one. Adios