 Everybody welcome to not financial advice live as always. I've got my two compatriots Guy from coin Bureau and Ben from in the cryptoverse gentlemen. Welcome back to another weekly show Thank You Rob It's some and and we're and you're rolling out the new green screen today the new pool Yeah, and you know the problem with these green screens that they they come with variables of Heat and cold right now. It's very cold in this green screen So I'm wearing this nice lovely jackets because it's 34 degrees here in El Paso. What are you gonna do then? So, yeah, then how's things going buddy? Pretty good. Yeah, pretty good. I have my green scheme up Behind me as well. That is the lamest green screen I've ever seen but it never changes So I don't man. I I mean you might say that but there's a lot of people that talk about that chair and those In the comment section, so maybe maybe I've figured out the algorithm Exactly has its own Instagram account. I think I'm pretty sure I saw that if if if that chair moves And Ben gets a haircut that means that the the comments go crazy So if you don't know this is been his site in the cryptoverse Fantastic and also you got guy from coin Bureau and coin Bureau clips. Definitely check them out. So gents we got some interesting things to talk about and the first thing is this this is the question that we came up with was right now And there's some very uncertain time. This is why I'm glad you guys are here It seems that the traditional and crypto markets are doing pretty well So far this year. So the question I have is since q1 did so well What's q2 gonna look like and we can just see that you know the s&p 500 Over the last day not too bad five days one month six months one year Okay, yeah man that one negative eight but over five look things are up for s&p 500 even though we've had talk about a depression coming or a major recession or even a mild recession Also, we take a look at Nasdaq. Well, that's five days. That's a good one month six months one year five year And of course our market not too bad actually doing a little refresh here Lately not too bad, but my 24 hours a little bit of a dip what you're gonna do But the thing is and this is I always steal from Ben's website link in the description 1010% off for the first month The first three months We've had a pretty miraculous run here for Bitcoin, you know up 40% February still positive March the last time I did the first three months was 2021 and Then the last time before that was 2013 and what was having common well pretty big bull runs So then the question is Where are we so guy? I want to I want to start with you just where do you think we are right now? And where are we going we can you can do it over a host of different things and and call into account macro I just I want to see where we're going So I know exactly We're to allocate all my funds for investment advice. I'm just kidding. This is not financial advice Good to good to clear that up at the start Yeah, well, I mean first off I think I mean no one was kind of more surprised than me with With the way Q1 has gone especially for especially for crypto given all the all the kind of things that we've been That the industry's been dealing with that the industry is still dealing with So that that caught me by surprise. I must say So where do we go from here? I mean, I guess the things I'm looking at first and foremost is what happens next month With the Fed do we get that other rate hike? To take us, you know above the turret to take the terminal rate above 5% that I imagine that is probably what we're going to What we're going to end up with? Obviously a good chance maybe of a pause at the next meeting and then another rate hike a little further down the line And then I guess we just have to we have to watch those inflation figures I I don't think there's any indication from what I've seen and read that the Fed is planning to take Rates much higher than this than this one other 25 basis point hike so I guess the rest of the year we're gonna be we're gonna be stuck with this terminal rates around 5% just over and We're gonna have to we're gonna have to see where those where those inflation figures go Um, are they gonna are those are those higher rates gonna do the job and how long is the Fed gonna be able to keep us there? So, yeah, I mean I gosh I want to say, you know, I don't know I was so kind of like I say I was so kind of caught out by by q1 I kind of I kind of think well, maybe I should be you know, maybe I should go the the opposite way to what I to what I think, you know But um, I mean I think first first of all in terms of crypto. I think April is gonna be pretty wild. I mean the 12th of April in particular We've got the we've got the CPI data Very as as Ben I think pointed out in a recent tweet, you know, the most important bit of the most important CPI Since the last CPI or was it the most important meeting since the last Fed meeting? So we've got the CPI We've also got the Fed minutes, which I think is going to be very instructive obviously the Fed minutes, you know in the wake of the the banking crisis And we've also got ethereum's this chapella upgrade. So, uh, you know unstaking finally going to be possible That's going to be that's going to be big. So I expect some volatility around then And then there's obviously this this banking crisis as well now this I mean seems to be under control At the moment that's you know, I I say seems, you know kind of underlined as it were um But obviously that has been the you know, that's been the kind of big surprise which has been great for crypto Great for bitcoin in particular, but I think that's really helped sort of carry the carry the crypto market over the last month or so as well Um, but of course, we do have you know It seems to be in this kind of state of sort of one crisis after another that we're that we seem to be in Um, I guess the next thing is the next thing to look out for is commercial real estate Something that a lot of people are now a lot of people are now talking about something that we're you know Kind of keeping a big look out for as well So Yeah, where do we go from here? I mean I I kind of my instinct tells me that q2 is going to be pretty volatile across all markets. I think um In my instinct says that it's probably going to be More to the downside than to the upside but then when we when we come to talking about crypto just who knows um there are There are a few sort of there are a few headwinds for crypto one thing that i'm kind of particularly sort of keeping an eye on Is what happens uh over in europe and the uk um The uk recently it's there's been a kind of there's been a few bits of you know news and rumblings out there that maybe This kind of whole crypto hub. Maybe these ambitions aren't quite uh what they seem and um also we've got EU politicians are going to be debating this markets and crypto assets bill Uh a little later this month as well and that's something i'm keeping a very close eye on because I think i've talked about this a few times before and the latest draft was very positive So there is this good chance that the EU is is kind of setting itself up as a crypto as a more crypto friendly regular um Place than the uh than the united states. However Yeah, I mean that's what we're that's what we're hoping but um, I am worried that because I think us influence is is Pretty pervasive and uh, so i'm going to be watching that closely because I think there's a good chance we could see We could see them rowing back a bit on those on those regulations if um If there has been a lot of pressure from from regulators in the united states And of course we've got things like binance getting chased as well That seems to be That seems to be kind of all over the place. However at the same point at the same time Bitcoins correlation with stocks is at its lowest level since 2021 I think there is still You know, I think the correlation between crypto and tech stocks is still, you know, relatively close But it just goes to it just goes to show. I think really we could see bitcoin and and crypto go in either direction really so All I can all I can say with much certainty is that it's going to be pretty volatile Oh, man Guy that was uh, that was a heck a heck of a great answer Uh to to put it all in into perspective. I was trying to Trying to sneak in some there was this um First of all, so like like when you talk about banks, so it looks like to me it's going to be banks It's going to be regulation It's going to be the correlation and it's going to come down to the macro effects of the fed here in america And uh, I can see that happening too. It's just there's so much out there. So a real quick follow-up question would be this So with all this this this turbulence What is your kind of plan to do with the the portfolio that you have personally? Is it just to stay the course? Or do you think that's there's going to be more like just if you had to do it Would you put any any more more funds in or just say, you know what? I'm just going to sit and wait for some relevance I Yeah, I'm happy to sit this. I'm happy to sit this out and we can you know, we can I think we're going to talk about altcoins in particular As later on aren't we? Yeah, I'm yeah, I'm I'm happy to sit on my hands at this point and just kind of watch it all unfold, you know I'm I'm I'm pretty happy with the allocations that I've got And because I you know because this last quarter has been so surprising I'm just happy to kind of sit back and and kind of consider the lessons of of the last three months really I don't think for me for me. Certainly. It's it's not a market I'm I'm particularly looking to dip my toes into at this point. I'd rather just kind of sit back and and watch the carnage unfold really so Yeah, I think that that's going to give me that's going to give me the best the best possible night's sleep I think yeah, you know To quote mark twain whenever you find yourself on the side of majority it's time to pause and reflect So it's not a it's not a bad idea just to sit back and on the sidelines and take it taken to full effect Now to talk about it Just to kind of bring things forward like the last three months There was this this is what I was trying to find as you were talking. Sorry It was uh, professor steeve hanky and he is He was on dav linds uh channel and he's got he's a big Uh, not an advocate. We will say of bitcoin and he just talks about how you know, bitcoin's going down It's gonna be awful and I just said hey, you know the first quarter 2023 performance If you look at it bitcoin's doing pretty good and just like we talked about we're uncorrelated against nasdaq cse 40 korea the dax you're up gold in smp 500 So I gotta agree with you somewhere there and just say yeah, I think it's gonna be turbulence But we're doing good so far Ben this will come to you the same exact question And actually you had a great interview With david lin and what I liked about this one was that uh, we talked about this before David's had a host of people steve hanky being one of them on his show And he kind of summarizes everything that that's going on the macro effect So it was a brilliant move to have this guy on just give you all the great information But how do you see things after talking to to david and your own reflections of where we're going to go on q2 Yeah, I mean I thought david was a great guest because um You know as I was telling you guys earlier like he he basically interviews everyone with every single opinion You can imagine whether it's like, you know a massive bull run or uh, you know The the the worst recession or depression in in a hundred years, right? So he's got a pretty good gauge on all the extreme views and I thought hey Maybe he can synthesize things in a bit in a in a way that is um, you know more realistic Uh as far as so I mean my my thoughts for 2023 are are We all get sufficiently wrecked right? I mean we wrecked the bears. Sure half the year we wrecked the bulls half the year Um, I this is what we saw in 2019 and 2015 as well. I don't really see any reason why this time is going to be different um And we just had three months of green So, you know, could we I mean if you look at the last two years actually the turning point was in april, I believe um You know that that the monthly return is that you were you had on the screen earlier um The last two years in fact the last two years april may and june were red Um in the last couple of years. Yeah, that's true You should note that in uh in 2019 though the rally did extend until june So i'm not saying it necessarily has to end here but April is uh, you know pretty There's a lot of flows in april I think from for retail investors and then as you get out into the summer Right, there's just like sell in may and go away idea Which can can often lead to sort of the summer lull we talked about right like in 2021 We had the summer lull uh where we just sort of went down into the summer and then we we basically were just in a somewhat of a like of a Just the summer lull where it was kind of boring for three months and and interest really waned And then it didn't really pick back up until until closer to the end of the year. Um, so I would say It's hard to know if it's going to happen in q2 or not But I would say we again we likely will spend half the years Half the year with approximately uh are getting getting some red months So I think we're probably going to get some in in the second quarter One thing that I think is interesting and um, it's surely nothing you can take to the bank, but The lowest price That bitcoin was at in q1 was on january 1st Right the lowest price was on january 1st And so far In q2 the highest price was on april 1st at least so far Um, so we'll see if if we can take out that high. I believe that high is is just below 29k I think uh so far we've been unable to take it out So i'm i'm kind of interested in that i mean if we can take that out then perhaps we can't extend the rally a bit further like 2019 but um That is is something to think about and then also i was looking at if you look at the rally that bitcoin had in 2022 That was in in march um It also, you know that rally also kind of died down around the march time frame You know march and april time frame back then I think sort of the turning point was in early april um And and also the turning point in 2015 was in is it was in march and april and then further more After bitcoin hit that local high back in march of 2022 is about five or six days that ethereum hit its local high Which for ethereum that would have been yesterday if it's about six days after bitcoin hit its own local high So I I know these things are are kind of silly because we could easily take those highs out if if um You know if the stock market push is higher But I I do think we likely will get some you know at least one or two red months in in the second quarter of the year And and probably some more in the third quarter as well I know that a lot of people are are really optimistic about you know all-time highs and everything but We made the same mistakes in 2019, you know when it went to 14k. We made the same mistake as 2015 So I will I will continue to sit on the uh on this on the idea That that this year is the year to get both bulls and bears Now sufficiently wrecked and only then only once everyone's wrecked can we can we actually have a another True bull market to take us to to new all-time highs Yeah, I got it So I you know it all makes sense, doesn't it like when we talk about these things Especially when we say well, they're gonna get wrecked and it's it's gonna happen or it might happen Who knows and it's one of those things where I keep in my back in my head I'm always thinking myself selling me and go away selling me because you know like like we all differ in our investment strategies, right? I am out of the realization that i'm not smart enough to figure it all out So I just dca and then you know just kind of put myself in that position And it's one of those things where I think to myself Maybe I should sell and it's really like a real thing in back like if I sell And we're talking about it, especially ben. I hear your voice sometimes, you know Take a cold shower Do these things and then there's and then i'm like if I can not get wrecked This will be great, but then I think to myself. Ah, you're gonna mess it up So I I think like like for me personally. I just think okay if I do that It's just a funny thing as soon as I sell It goes up to the moon So I'm just kind of like just gonna sit here and wait, but it would make sense especially with this Appending upcoming recession, which would I guess would leave me to my next question here, which is this As more countries swept the dollar and we've seen a lot of them, you know with the china and russia The asian countries in iran and iraq as they're kind of swapping the dollar for their native currency for commerce And the dx y declining is this good for a bitcoin in gold Or is this good for the rise of of cbd season? I'm talking about is if you take a look at the the dixie Of the last day, not too bad, right? But it's over five days a little bit of a decline one month Just kind of going in that direction three months six months And so on and you can just see that it's only getting a little bit weak And then I will say this I know on your channels where I learned as the dixie goes down It seems like bitcoin goes up that valuation gold is two percent below its record high settlement So I think we can't just discount that. I mean look it's almost that's uh, where are we at 1800 Now we're over 1978 over here 2025 so I mean is this Where we're gonna go or You see more of the same and ben i'll start with you because I want to talk about cbdc's with with a guy in his video in a little bit Yeah, um the The the dollar that so the yeah the dixie You know, there's always a lot of sensationalist headlines when it rallies like you think back to september october. There's a lot of headlines And and it was sort of the reverse. No, obviously it's it's going in the in the other direction But I will say I don't really think the u.s. Dollar is going anywhere I think it will stay the world reserve currency for a long time and even if it is destined to not be Those that process typically takes, you know decades to play out, right? So like if it is in that process, I don't think we would really fully see that take place for another 20 or 30 years You don't just you know, you don't just blink and then the world just collectively no longer cares about us dollars Uh, so I will say that I do think the headlines tend to get to be the most extreme around the tops and the bottoms on on the dollar So I I could see the dollar getting some type of a bounce, you know relatively soon I mean the short term it's obviously been pretty weak and I think right now it's sort of right around its prior Low I think back then, you know a couple months ago Which is also corresponding to the euro potentially at a double top on the u.s. Dollar, but um Yeah, no, you mean you're right like if the dollar pushes lower historically, it's a good thing for bitcoin Uh, if you look back throughout the context of history, that's not always the case At least her risk assets and general now since bitcoin's been around when the dollar goes up it's usually not good for bitcoin and When the dollar goes down, it's usually great for bitcoin if you look back at um at prior recessions and the u.s. Dollar There were times Where the dollar goes down And so too does the stock market. So there are cases where you can see both go down at the same time Uh, so I don't I mean, I know at least for people who've been in crypto like we've never really experienced that Uh, but it is it is something that can't happen um What you know once in a while and and some of these more traditional trends can break But yeah, I mean normally when the dollar goes down, obviously it's been good for bitcoin It's been good for bitcoin over the last several months um Do I think that uh So yeah, I mean normally if it if it kind it is good for bitcoin for with regards to gold Yeah, so I am actually pretty bullish on gold We actually talked about gold last week as well And I I think a few months ago too And my general thought right is like, you know, the enemy of my enemy is my friend and I kind of see it the same way right like I I think that gold is I think gold and silver are likely going to do well over the next five years now I mean in the short term they've they've moved up quite a bit So, you know, of course they could they could come back down and retest the breakout point like silver could go back down or But I I do think they are pretty bullish in fact gold If you look at at prior recessions Um, it tends to it tends to give positive returns whereas you can't really say the same for most risk assets And and we're still in the phase of just figuring out what bitcoin is We all hope that it it performs a certain way, but with gold Um, I think it has proven itself to do well During periods of relatively flat stock market returns if you you know that chart you were showing earlier for the s&p 500 It's basically been going flat for a while I mean all things consider there's been a lot of there's been a tug of war between the bulls and the bears Since like june of 2022 on the s&p As a gardener. I mean look at look at what it's happened since june over the life you look at the just the last year It's basically just been between, you know, 3,500 and 4,200 for the last year And yeah, now if you look at at the 2000s and you look at the 1970s We had periods of relatively flat stock market returns During those decades and during those decades gold went on absolutely massive bull runs Um much more than we you know much more than most crypto investors have ever seen right And in the 70s, it was also during a period of high inflation Which I think cap cap, you know cap stock market returns fairly tempered Which I think is why pal wants to get inflation back down is because he knows the consequences of not doing so You just you see no growth for potentially a decade So why not just rip the band-aid off and get it over with and then in the 2000s? We had relatively stagnant growth and again gold did really well is you know gold did really well there too So I think I think gold is is a great hedge in a portfolio to have Especially especially during you know, sort of the economic uncertain times that we're in today, right? And there just there seems to be a whole lot. I tweeted the other day I I took a screenshot of it because on on the you know, how twitter shows you like what's trending Like literally alt season and recession were both trending And I was like these are wild times that were So Yeah, I think I think gold is likely going to do well for the next several years I think that bitcoin Will do well as well But I I think that bitcoin will have another scare and I've said that many times before It's it's next mark. It's next bull market to to all-time highs I don't think it's going to go to all-time highs without having one more scare and we always we've always had one Again 2015 2019 or 2020 we had we had the same thing happen and also note too that 2020 corresponded to a recession Right, and it was a short recession But it still technically was a recession and we we got a glimpse Albeit very brief as to how bitcoin performed and it it wasn't great not the short term anyways What happened after it right it exploded because we went back to qe So I think we need we need we need to get back to that point um For crypto to have a realistic chance to to go to new all-time highs but gold Gold I think is is going to to hold up Relatively well for the next like I would say four to five years I could also see silver outperforming gold The if you look at the if you look at the gold silver ratio So like the the ratio of gold to silver the the prices It seems to be pretty elevated So if you like think of gold silver as like an oscillator Like if you like you think about like a theory in bitcoin and a lot of the alt coins with respect to bitcoin They're oscillators or they just lose value the gold silver ratio It looks more like an oscillator and it's pretty high on the gold side right now So I think over the next five years will actually see silver Go through go through a period where it where it significantly outperforms gold Excellent That was a good one. That was a lot to to consider guy same thing for you So if we're talking about all things we just said the dixie and bitcoin goal is this is everything that's that's happening is this good for bitcoin and then to really to harp on and To get to the the crux of of your video. This one was interesting. I linked this in the description It's the cbdc report and I found this fascinating because with all the turmoil And all the people moving from the us dollar to different currencies I thought there would be a little bit more of a higher demand for cbdc as they roll these out But this report I thought was great This is from the government that cbdc could actually destabilize banks and they're looking to not get into cbdc So again the same question, but then also can you touch on on the cbdc effect? Sure sure Yeah, it's it's a fascinating narrative at the moment I don't know whether I'm actually researching a video on the decline of the dollar as we as we speak But um, so maybe that's kind of informed the fact that I just seem to be seeing Stuff about it everywhere But it really seems to be a talking point at the moment this idea that uh That the dollar is kind of in terminal decline and you can you can get both you can get both sides of the argument Really, there are some people who think you seem to who seem to believe that yeah It's days are numbered and you know before too long will have something else Although it's never quite clear what that something else will be um So it is yeah, it's a very interesting narrative to watch play out But I mean I'm 100 with ben on this, you know any decline in the dollar and I think there's no doubt that it is declining um, you know in in terms of influence and in terms of acceptance um, but any decline will play out over Decades, yeah, you don't you don't display something like the dollar overnight Of course, I mean what usually happens or certainly what happened in the case of the last reserve currency You know the pound I mean that took that took a war I mean that took really kind of two world wars to to really do the trick for the pound but um Yeah, there is always there is always the idea that some some massive great conflict could could throw the dollar off But let's hope we let's hope we don't we don't go there Um, so yes, I mean everything we're seeing now. Yeah 100 percent is is excellent excellent news for bitcoin And um, it just it ties into this to this narrative We're seeing with the banking crisis as well people are realizing that you know, okay You take your reserve currency Do you want to be do you want to be in hoc to the u.s. Government? Or do you want to be in hoc to the chinese government or to any other government? And I think you know more and more people the answer to that question is well I don't want to I want to be in control of my own money. I don't want to have you know a government that I didn't vote for I'm dictating you know dictating what happens with with the money in my pocket or you know, or you know Either directly or indirectly So I think as more and more people Wake up to what bitcoin is as more and more people take the orange pill then long term this this Decline of the dollar narrative is going to be is going to be excellent for bitcoin and could be It could be a huge driver of of that next all-time high whenever we see it so Yeah, people want something that they can hold as more people understand exactly what financial freedom is This is something that I bang on about all the time You know people often assume that financial freedom just means Having enough money to you know not work or or do whatever you want really what financial freedom means is Having the having the freedom to spend that money how you want where you want, you know on what you want so I think and bitcoin offers that you know bitcoin is one of the few things that offers that it can't be It can't be censored. It can't be stopped And it can't be you know, it can't be clawed back as it were so I think more and more people will wake up to that that will drive bitcoins Price action in the long term and that will certainly I think drive it to you know to all-time highs in the future But going back to this idea of financial freedom. Yeah, this is obviously where cvdc's come in and this is why You know, this is why one of the reasons why i'm so, you know opposed to them This idea all that all this all the literature we're seeing about cvdc's at the moment everything we're hearing about them is centralized control and You know control with a capital c, you know, there's it's going to be so much There's going to be so much that the central banks issuing them are able to do and hence, you know The governments that control those central banks And that is not financial freedom, you know, that is that is quite the opposite so Yeah, it's and it's interesting to to to think about where you know how this decline of the dollar kind of Feeds into the cvdc narrative because I guess you could you could argue that again, not only are Individuals saying well, I don't I don't want to hold a currency that's that's controlled by a foreign government I think more and more actual governments are going to be saying to themselves. Well, I don't want we don't want our Currency dictated by the actions of of another state whether they're an ally or an enemy of ours or somewhere in the middle And that's what cvdc's offer in a way They offer much more control over the currency much more control over the people spending it and again As we get this kind of polarization as the world kind of shifts into I guess a chinese sphere of influence and a us sphere of influence. I mean, that's the way that I I see it going Then uh, yeah, the these countries kind of either in the middle or in one of the in either of those spheres I think are going to become more attractive, you know, if uh, if if they offer that sort of control That said, yes, you're right. This this recent report from the u.s. Government did kind of you know Did kind of advocate putting the brakes on a little bit So, yeah, we're still very much in in uncharted territory with them But that's why we're seeing all these pilots, you know, so many of the so many of the cvdcs They're in in the works at the moment. They're already out there a lot of them You know places like india has a digital rupee pilot going on china's Digital yuan pilot has been going on for a while now and I think they're going to continue for a while Which is why I don't necessarily think we're going to see You know, we're going to see a fully fledged cvdc rolled out. I think everyone's watching places like nigeria, for instance And that you know that cvdc the e naira has not been has not been a big success So and has and has actually caused, you know more financial destabilization So, yeah, there's I think these pilots are going to be fascinating and kind of scary to watch Yeah, I got to agree with you on this one and I will say like I took a lot of heat For this because I was talking about we're talking about cvdcs in a couple of videos previously And and I said I go look Cvdcs are inevitable. It's just how it's going to happen We're going to go to that that way And I said and then of course when I said that people like well rob is obviously a government shill I'm like, no, no, no, you're misinterpreting this So when I say that cvdcs are inevitable, they are just like a lot of things that are inevitable But as things move forward absolute power corrupts absolutely if the governments can use these things and they can shut off things What do you think's going to happen when all these countries that that's time to use the uon are now on the digital uon? And now they say, you know what? We're going to shut things down They're like, you know what? I don't like that. I don't like what's going on So maybe I should go for another type of currency that maybe be able to decentralize now It's a pie in the sky thinking but I could see that and this video that you put out again The link in the description to watch it was interesting to know that the governments are like Hey, if we use this this will crash the banking system, which will be a problem So we probably shouldn't do it and I thought to myself how Interesting is that we just saw that when the banks start to collapse. What is that good for people start to think to themselves? Wait, this is not the system that I grew up. I should actually do something a little bit different Maybe I should get out and that's why I think we're going to get more of those text messages from our family and friends We're like, hey, what's up with this bitcoin thing because I don't trust what's going on That's just how I how I see things. All right. So excellent answers a lot to digest there now Let's just get into a little I mean we talked pretty harsh I mean pretty pretty hard on a lot of the macro effects the q2 sessions and that Let's just lighten it up a little bit When are you gonna buy some alts? Come on This is the thing that that everybody wants to know. I'm already buying alts. Whether that be good or bad I'm still doing it but the question is is when are you gonna buy alts? Guy then let me know so guy. I'll start with you since we just we just let off there Sure. Um, oh gosh rob. It's a it's a it's a tricky question. Um I mean, I suppose you could argue that I mean first so first up, you know It's uh, it's fascinating what ben said about those search trends, isn't it? You've got people searching for alt season on the one hand and and recession on the other and Absolutely shows you shows you just where we are at the moment I I personally believe alt season is a very very long way away. Um As in not this year Which means I'm not in any hurry to buy any alts at all Especially, you know, especially not large cap ones that you know may have may have seen the majority of their growth That said you can you can counter that and say well, you know the time to buy is you don't buy just before alt season Don't you but by that point price is already going up You want to buy when kind of no one's interested when no one's really doing anything and you know, that's that's when you're more likely to get these get these uh get these assets at a good price so I don't know. I just I just feel I want the kind of I want to see a bit of Light at the end of the tunnel for crypto from a regulatory point of view I want to I want to have A sense that we have that the industry has kind of Worked out some of these issues with banking for example. Now. I don't know how that's going to play out I don't know what's going to happen particularly in the us and of course elsewhere over the next few months, but Until i'm kind of more confident for instance. I was talking about The eu just just earlier on they're debating that markets and crypto assets bill later this month now If that bill were to get waved through in its current form and to get voted into law in the eu then I would be That would that would set you know alarm bells ringing in my head in a good way I should say because that would say to me it's like, okay the us Doesn't like crypto There are other big jurisdictions out there that are you know, crucially allies of the us That do like crypto or at the very least want to want to encourage it want to encourage innovation want to encourage growth Now if I was to see something like that happen, then that could be That could be my trigger for for buying all regardless of what's kind of state the market is in then so I just want to I just want to feel more positive About the direction, you know that the market is going in the kind of short to medium term Then I do now long term. I'm I'm extremely bullish, but I just I I don't know. I would feel better. It goes back to that good night's sleep. I would have a better night's sleep if I If I see some more positive news for crypto Fair enough answer conservative conservatism actually sometimes wins out ben. What do you got? When are you going to buy some all everybody wants to know what ben's going to buy all this because I got to tell you if ben buys Alls, I think that's the start of the I mean when we really can't go off a massive bull run Ben what do you can I can I change my answer rob and just say I'm buying alts when ben's buying alts There we go. That's not it. I should have just said that and saved saved everyone that long explanation What the reality is whatever I buy alts, it'll probably be the local top for the altcoin market Yeah, that's also true. Yeah, I got a point um Yeah, but I like I I I'll say the same thing. I've always said right I mean my and and and this is where I get in trouble is is You know every few months the alt market has a bounce off of off of a new low um And everyone's like oh well my alt coins up 50 percent or 70 percent or whatever But again the reality is I've been saying the altcoin market is too risky for what 15 months now And and you know everyone got there in cherry pick whatever recent local low they want to But the reality is that most of them have been in macro downtrends against bitcoin for almost two years Okay, that's the reality um Now some of them have done well and and I will always say that there are going to be some That can do well Even ethereum's bitcoin valuation has been putting in lower highs Not only for the last year but since 2017 And this is one of those realities that I think a lot of people just don't want to accept But I'm gonna I'm gonna tell I'm gonna say how it is right look at the ethereum bitcoin chart And if you have a strong stomach look at it on a linear scale And you tell me if it's not been putting in lower highs Since 2017 and it has been now It's also been putting in higher lows and I will contend that I I don't really fully know What's going to happen in in three years? But I still think that in the short term a lot of these alt coins are just bleeding on their bitcoin pairs You know go take a look at at selana bitcoin is down like 80 percent against, you know 80 percent cardano bitcoin 70 80 percent down Uh avalanche bitcoin polka dot bitcoin The list goes on and on right most of them Are just down 70 to 80 percent on their bitcoin pairs And bitcoin also went down a lot right so the whole point and I've said this for a long time is it's okay in my opinion, right? DCing into bitcoin throughout a bear market and a recovery year Tends to work out quite well and I've said this many times, you know rob You asked me you asked me the end of last year if i'm buying anything What did I say I said the only thing i'm buying is bitcoin because everything else is likely going to bleed against bitcoin um And I still think that because guess what if bitcoin comes back down at some point this year, which I think it will The all coin market at that point is likely just going to get wrecked again, you know um Because a lot of them have actually lost their support levels on their bitcoin valuation So if you look at like eight of bitcoin the support that it held in in like in june and and um and in like september Or whatever, you know the support level that it held around 15 1600 satoshis It's gone right and now eight of bitcoin has broken that support level So what happens when bitcoin usd comes down? That all it has nowhere to hide right? It just keeps going down and in the last cycle it went to 400 satoshis before it hit bottom 400 So You know, I know a lot of people you know want this like although the the peer pressure game right like when's been gonna do it right? Everyone's doing it. You love it. You're gonna love it. Just do it but um The reality is is you know, I've I've I've I've experienced several these market cycles of crypto and One of the things that is true time and time again is that bitcoin Recovers Eventually and then a lot of altcoins don't that's the reality and the other reality is that 99.9% of altcoins are just scams They're they're most of them are just forked code from other altcoins That's all they are You know and you can go change a couple lines of code and put up a wordpress site And call it the next best thing, but it doesn't mean it's not a scam So I would say that most people are going to be much better off With with with bitcoin right my crypto portfolio is is almost entirely just bitcoin right now Right. I mean, I mean that's just what I did I mean, I also have a large cash position because I think it's going to be important to have that in a potential recession But I just I don't see the bull case for the altcoin market And and here's the other side if bitcoin breaks out and goes up What happens to the altcoin market? Okay, maybe they get maybe they get dragged up kicking and screaming On their usd pairs But bitcoin still likely outperforms them. Look what happened in q1 bitcoin went up what 70 percent 80 percent And the dominance of bitcoin went from like 39 percent or 40 percent all the way up to 47 to 48 percent So, I mean, what happens if bitcoin continues this rally the altcoin market still just going to get left behind So the point is if you're not really sure about the altcoin market Let's say you have let's say you have an altcoin that you like the point is that In being in bitcoin now will likely allow you to to buy that altcoin later At a lower satoshi value than it is today Okay, so and then again the biggest counterpoint to so so some people say well, what if the bottom is in right? What if the entire market is bottomed? That's always a possibility right? we said that back in you know in in the summer that will likely have another low and The way we can get another low after that is if we get a recession Right, so I mean if we get a recession later this year, but here's the thing too In 2018 bitcoin bottomed right and it did not put in a lower low Guess what did put in a lower low cardano in 2020? Guess what else put in a lower low xrp put in a lower low in 2019 in 2020 dogecoin put in a lower low And I believe 2019 and 2020 a lot of the altcoin market just simply puts in lower lows So even if even if your point is well, you know bitcoin bottomed which again it could have but even if that's your point It doesn't mean that the altcoin market has and and you know We've seen that play out time and time again furthermore the other thing that we've seen happen Plenty of times is that bitcoin normally hits an all-time high before a majority of the altcoin market does Okay, no one ever believes it but look what look what happened last time You know bitcoin and and you can stop me if i'm going too long, but no no no this is great In uh in 2020 I said back then bitcoin will hit a new all-time high before ethereum A lot of people didn't believe it and guess what bitcoin hit a new all-time high ethereum was at like 700 dollars When bitcoin hit its new all-time high people just forget that Cardano had not broken out until after so a lot of these altcoins are just likely not hitting all-time highs Ever and the ones that do probably won't do so until after bitcoin hits an all-time high and so a lot of times the time to buy altcoins is After like these parabolic rallies that bitcoin has to new highs And then you and then you convert to the altcoins because then the altcoin market against bitcoin goes up Now I will say that a lot of altcoins will probably bottom against bitcoin Before bitcoin's parabolic rally, I think they'll probably go up and come back down But I so if the if to just get back to your question, right? When's the time to buy altcoins? um You know last year in 2022 what I said was the earliest is december of 2022 like the absolute earliest that people should even consider them but Considering that the dominance is still low for bitcoin. I I still think that you're better off I mean bitcoin's a better play. I just think bitcoin's a better play So, you know for every dot you have to about opportunity costs for every dollar you put in the cryptiverse If you put it into into bitcoin We can be pretty confident although not a hundred percent confident But we can be pretty confident that bitcoin will eventually recover You know to its all-time highs at least that's why we're here and if you don't believe that I don't really know why you're watching this show, right? But we can be pretty confident that eventually bitcoin will recover to new all-time highs You can't say the same thing about a majority altcoin market There and and and when people point to the altcoins and say well look how much this one went up That's survivorship bias think about all the coins from 2013 that did not rally in 2017 Think about all the coins from 2017 that did not rally in 2021 There's going to be a lot of coins in what 2025 That rally that or that they don't rally that rallied in 2021 So everyone's gonna be sitting there waiting for these all to hit new all-time highs But the new market participants aren't gonna care about them They're going to be the the boomer coins the coins from a past cycle a relic From a prior cycle and no one's going to care about them anymore because there's going to be a new shiny object to chase after so Yeah, I think that Until until bitcoin Has has really regained its dominance and i'm talking about like, you know, you I think I mean at least over 50 percent, right? But 55 60 once you get to those levels I think that you can start to make the case that some altcoins Are are worth the you know the potential opportunity cost, right? Like you can then make the case that all right. Well, yeah, the altcoin might not survive But there's also this this idea that if it does survive We know that the altcoin market can give outsized gains Right market than bitcoin But you don't get those outsized gains by buying every bear market rally in the altcoin market every step of the way down, right? You you you can serve the satoshi value of your portfolio by mostly being in bitcoin and then Eventually the altcoin market makes sense But it only makes sense in my view after the dominance is much higher and after all these alt bitcoin pairs have have truly become just a shell of their former selves by the way um For people that say like oh well these altcoins are down 80 percent 90 percent So what doesn't mean they can't go down 95 98 percent on their bitcoin pairs We've we saw many altcoins go down 95 98 percent on their bitcoin pairs. And by the way You know the ethereum bitcoin valuation in in last cycle It did not bottom in 2018. Cardano bitcoin did not bottom in 2018. When did they bottom they bottomed in q3 of 2019 so To sort of answer your question. I think the time to buy altcoins the earth, you know is probably Again, we'll see we'll see what happens, right? but Yeah, probably q3 or q4 this year Ben How many times have you answered that question? On your on your channel and on twitter, how many times have you answered that question like ben? I mean most of these alts just keep going down against bitcoin as far as I can tell So look and and here's the thing excellent excellent answer I mean because I know ben has answered this a plethora of times So it's always interesting when I get him riled up and I can talk about the altcoins. That's great But and you know, there's a point to be made where there's a really good point to be made and I urge everybody Go to coinmarketcap.com forward slash historical And you can take a look at all the different altcoins that were ever going to be the next Shiny thing awesome object and just see how the top 10 2050 Do not exist anymore and that is just the truth However, and ben you you hit on the head. There's some outsized gains But which ones are going to make it and that's the thing about not financial advice to show We can't give you financial advice But we can show you some history and one of that history would be cardano and january and january 1st 2018 It wasn't it wasn't worth anything after hitting a dollar I think in 2017 But if you invested back then And then got into it it would have been a 35x to the from the peak to the high If you do that and if you just would have waited, which would have been a much better play in this in this time frame And I know history Doesn't It's not perfect But it is ryan all that good stuff But if you would have waited until 2019 which is the reset year and gone to the the peak It would have been a 39x all he had to do was just not do anything and we had 39x In 2020 a 26x and if you would have invested during the bull run only a 3x But to get into your point Not everything goes back. This is what I always talk about my channel a dash of salt remember dash I don't know if you own dash congratulations. I mean, I'm not going to bash it too hard here But if you would have held it for since 2018 to the tip, it's a whopping 3x Watch out. Did we get out of bed for that? I don't know and then also salt Which is going to be the next shiny thing which is going to be so awesome and great for loans and then like that It peaked at 1722 and flatlined after that So just be careful out there when you start to invest in these alts because yes, there are outside gains and yes They can be awesome. But the thing is are they everything that they could be? I don't know and that's why I can't tell you what to do But I invest into alts and I'm still buying alts because I'm just trying to Like give the piece but the majority is bitcoin ethereum Just to make it very clear The other thing too is you know, like I know everyone calls me a bitcoin maxi because I've I've just keep saying no altcoins for the last 15-16 months I would point them to my 2019 videos when I said cardano is a great buy at two cents, you know Where were they then, you know, where were the first video on my channel? Where were you? Yeah, where were they then that the first video on my channel was the ethereum bitcoin valuation was at 0.02 And it's literally the title the video is like ethereum bitcoin is severely undervalued that video is less than Where were they then, you know, that's my that's more sort of my my response to the critics to say I'm a bitcoin maxi Look, there's a time to put on your maxi hat and there's a time not to And and when you go through a bear market and even in the recovery year the altcoin market I'm not saying they can't go up sometimes But it's a difficult battle to face and they're likely going to continue to put in new votes That's the reality. We've seen it happen time and time again Um, so yeah, my my response is go look at my 2019 2019 videos and ask yourself like where were they then? Where were we then and just and just to be fair like I in 2022 I was micro dcang everything bled against bitcoin and it just kind of happened like that And I just I just started over to full dca just a couple of months ago And that's it. So like I think if I were to just sat out And of course benz in the back take a shower cold shower before to set out. They've been doing a lot better anyhow, let's get off off this subject and just wrap this up and uh Everybody if you want to have your questions answered Put your questions in the chat right now But here's the question if you have anyone on your show and I want to make this person like a reality Not someone who has passed away or are a figurative like satoshi nakamoto if you have anybody on your show Who would it be and why and they have to be alive and accessible guy? I'll start with you Interesting. I'm wondering what accessible means, but maybe you can okay, maybe you can Accessible I mean like like like he could be alive like satoshi nakamoto, but I don't really know where he's at So like you could actually get a hold of him to come on the show Yeah, yeah um I would like to talk to do you know what I'd like to talk to rishi sunak the uh, the british prime minister He's He's a little bit He's a little bit wooden you occasionally think gosh this this person is doing a remarkably lifelike imitation of a human being But he is you know, he's an interesting figure in that he's you know, he's kind of a tech bro at heart But former chancellor so he knows what he's talking about You know when it comes to when it comes to economics and I I would just like to sit down with him And say look rishi. What's what's going on with this whole uk as a as a crypto hub as a digital assets, you know As a digital assets hub what what's going on, you know, what um Why are we not seeing? You know, why are you not seeing through on this? Why are you not sort of taking this opportunity and uh, I'd like yeah I think I think that would be you know, quite an interesting conversation because like I say He is a very interesting guy even though he's a sort of classic politician I think if you can get him talking about stuff that's you know, that he's really passionate about I think that could be quite an interesting interview. So, uh, rishi if you're watching, you know Dm me and we'll and we'll sort it out Slide slide into my dm. So yeah, so for that one ben same question. Who would you have? So who's I was I I would think like who's the one person that every month or two everyone in the world tunes in to hear What he has to say Who Jerome pal Oh, that is a great one. Yeah, that would be good one. Can you imagine like Why don't I ask why not pal when he's buying all coins? Oh I think to have him on it would be great because I mean everyone like that's what everyone care. I mean everyone cares what he has to say um And you know, I think a lot of people want to tell him how to do his job But the reality is is he's probably smart. He's way smarter. I think than than all of us I mean we're you don't get to where he is by by not being a bright person um So, yeah, I'd like to have pal along and and kind of ask him because I mean he's he's talked a lot about you know, like Avoiding the mistakes that you know of the past and it'd be nice to just sort of like dissect his brain a little bit On on all of his thoughts about like where the economy is and what's he trying to avoid and that kind of stuff Excellent. Yeah, I could see that one. That's a that was that's that's a pretty good one I kind of took a look at and said The person I would have on what is their significance in crypto and how would it move the needle? So like I got agreed here with with with diesel cane. I was thinking about this one I said, what about andrew tate that'd be pretty good But you know because everybody would tune in but then I thought to myself Well, what would really I mean really truly move the needle and what I wanted to do is like get somebody who is Not a proponent and someone who's kind of on the not on the fence But is like really anti-crypto to talk them about why they're anti-crypto and kind of move into that direction and go Why are you like this and what do you not understand about it? So I can you know try to bring them forward and I know people think this is a this is a losing battle And I know that but I'm trying to be more of an optimist I would have elizabeth warren on and I checked her her profile and she does not accept bitcoin for donations Not that I would donate to her her fund anyhow But I you know I I set it out there and she had this interview with chuck Todd and she was talking about how how bitcoin is Make any sense because you know, it's not tangible You can't really to really use or anything as far as artwork and I just made this nice little graphic for her and I said You know the the real question that chuck Todd should have asked her is what's money and then have her answer that And if we would be agree that money is a is a tool for store of value and a medium of exchange Well, bitcoin does that and does it very well actually and you can see I mean What 20 bucks would buy in 1980 versus now is not too much in the grocery store take a look in 2011 2030 or 2021 one bitcoin could buy a not too many groceries in 2021 in 10 years Could buy a really nice car and then kind of go from that so I know like people say robin's losing battle but Sometimes you got to take the bull by the horn and say I want you on the show And talk to me about what the real problem is and let's get to meet in the middle anyhow Gentlemen, thank you so much for coming on. We'll get to some questions We went went long. I don't know and I even skipped over a question about dogecoin on twitter, but That whatever congratulations dogecoin holders don't hate me So here's a good question What's been and guy thoughts on proof of work coin versus proof of stake And I and they say a lot of your favorite proof of work because they don't general I have as much Centralization or downtime and also I think the sec would look at that more favorably. So guy ben Anybody want to take this one? What do you think about those two? I favor proof of work Obviously, yeah, sure Yeah All right guy anything with that one Yeah, I mean I I fall on the side of proof of work My only kind of my only real concern about proof of work and don't worry I'm not going to say environmental impact or anything silly My only concern about proof of work, especially when it comes to things like bitcoin is just the you know The inaccessibility of a lot of the hardware, you know, I I love this idea that anyone Could could run, you know, could could could be a miner and that I think is one of whenever I Whenever I think back to the early days of bitcoin, you know, whenever I read about the more research and whatever I always come back to that. I always just think how amazing it is this idea of everyone You know, you've got your you've got your computer tower under your desk just whirring away just doing this thing and You know, look bitcoin has grown more than anyone could imagine and I can't imagine Satoshi Ever thought that that we'd have this kind of situation where mining is done by in these enormous kind of mining farms but Yeah, it's that's that's where we are and I would just love to you know, I do think proof of work is Amazing and I would just love it for I mean, let's face it. There are proof of work coins That you don't need a you don't need millions of dollars worth of equipment to mine minero for one for instance But yeah, I just I'd love to I'd love it if it was kind of More accessible to all because I think that's going to be something that's really relevant over the coming years You know, how does bitcoin maintain this decentralization? Especially once it becomes the world's reserve currency, you know, so That's right once becomes the world's reserve currency see if that happens out Here's another one And it's when I was in zero if the market crashes won't tether Crash as well and bring down bitcoin I got to tell you for For the coins that I've been harping on tether being one of them Uh, it sure has stood the test of time which which stable coins have been be pegged so far Not tether usdc and luna and some others So gentlemen, what do you think about this one? Well tether crashes everything else crashes Or we'll just continue to roll along like it always has Well, I I'd yeah, you fud tether and you end up you end up looking pretty silly. Don't you so I'm not going to go down that route. But um, yeah, I mean, I guess it comes down to okay market crashes If if people want to try and redeem their usdc I guess, you know, if you have a I guess anything is is vulnerable to a crisis of confidence in the end But yeah, I think if if if usdc holders, you know kind of held on then Yeah, I think it would be it would be fine. It's it's withstood everything up to now as you as you say Yeah, Ben same thing. Do you think it's gonna hit something hard times? I mean, well, I mean, they're kind of lie There's sort of like these mutually exclusive ideas, right? I mean like bitcoin has crashed many many times and tether hasn't You know, so like just because bitcoin or crypto crashes doesn't mean that tether has to I mean, it doesn't mean that tether can't but um, you know, I mean, I I think uh You know the crypto influencer crypto twitter whatever people have been sort of talking about Um, you know the demise of tether forever and it's still here. I mean, I don't I don't have any any money in stablecoins but um, I'm not currently betting that it's imminently about to go down or anything I had to say like I've been talking about while also I've been talking about dogecoin for quite some time But I believe if you look at that historical charts on coin market cap You will see dogecoin has been in the top 24 ever just about so Yeah, I I dish on it to my peril and then lastly guys, we're we're here at an hour So everybody thanks for showing up. We appreciate it last one this question will go to guy Is NFA live Going to be in london during the show For the conference I think we've got to do it. I mean, it's it's on a saturday, which is a little bit, uh, you know a little bit Out of the ordinary, but uh, I don't think it would break the internet to have NFA live on on on a different day Would it I think that's what the I think that's what the world needs to see so Yeah, we'll we'll make that happen if um, well, you're gonna be there rob and ben if you can if you can join us via Via video link. Yeah, I think I think the the fans will go wild for that Ben, what do you think NFA live get the kids off to soccer practice early? Come on the show Up over to london for the afternoon I I thought it'd be great We could like like me and guy could be there and we have a big jumbotron and ben could come in underneath there And then we just start talking talking shop We can just what we can just wind ben up about altcoins. Yeah It'll be even worse if the altcoin market outperforms bitcoin between If all coins are pumping on the 10th of june, I tell you it's gonna be it's gonna be great We're gonna we're gonna have a field day Okay, so if dominance goes up we'll do NFA live show if don't if bitcoin diamonds goes down Not gonna happen and then I will just remind everybody that uh First of all, thanks everybody for coming on. I appreciate it, but uh, take a look over at uh into the cryptoverse and then Sale going on. I think 10% off for first month and then guy Where can they find those tickets for if they're if they want to come in? I think you guys sold out, didn't you? Um, I don't think we quite sold out, but they are selling pretty quick So but I think there are a few left Macy tells me there are still uh one or two so live.coinbureau.com is the place to is the place to go All right guys, so let's get out of here. My green screen is very cold. I need to get out and warm up So thank you gentlemen for stopping by we appreciate it. Everybody like and subscribe to uh their channels and we'll see you guys in the next week I think we're on guys Yep, here on clips. All right, everybody. I will have some spicy altcoin related questions for them Perfect, and then of course the the the market will crash for us. We'll see everybody. Thanks so much. See you guys in the next one Thanks, everyone. Yeah