 Pretty scary, right? Well, that's just exactly what happened with all of the stimulation With all the funds that are coming out everybody welcome digital asset news My name is Robin today. We're gonna go over just a couple of things about some concerning issues that I see happening Which would be how everybody wants to dismiss crypto and say that nobody needs So first of all, we'll talk about our institutions aren't interested in crypto something about JP Morgan I'll talk about don't forget the liars and And how Jim Kramer actually has a pretty good point and lastly Why I'm not too worried and We'll go over all that stuff. So first of all welcome. Thanks everybody for stopping by. I appreciate it It's it's amazing that we just how fast time flies, right? We just got over a Christmas and of course here. We are so let's jump into it and take a look at today's first story So today Interesting JP Morgan Crypto is a non-existent asset class for Morris large institutional investors and it's kind of odd how JP Morgan comes out and talks about these things, but you know, hey, here we are So this is a quick story from Bitcoin.com and just caught my attention because I think what's gonna happen Is we're gonna see more of these stories come out especially as the market continues to fall and I mean the bottom may have been in I'm not for sure, but I don't think it is especially with all the data that's coming out but If it keeps falling even even it goes up a little bit doesn't matter You're gonna see more stories like this JP Morgan asset management's head of institutional portfolio strategy Jared Grosz said this as an asset class crypto is effectively non-existent for most large institutional investors volatility is too high Lack of intrinsic return that you can point to makes it very challenging Most institutional investors probably are breathing a sigh of relief that they didn't jump into that market And are probably not going to be doing so anytime soon and Again, this is just one of those stories that comes out and makes you think well I mean from people outside of our bubble People would think to this and say wow JP Morgan says that but it's got to be true because you know They're a large institution and that's what it is However, if we peel back some layers and take a look who's really getting into it Investment giant state street for example said in September it sees on winning demand for crypto from institutional investors NASDAQ recently published a crypto unit called NASDAQ digital assets I gotta tell you if if NASDAQ was was going to put forth the money and the effort to bring people in It's probably because there's an opportunity there not because they want to throw money away, but it could be wrong Siding increased demand a survey released in November by a crypto exchange Coinbase showed that institutional investors increased their allocations During the crypto winter. I think it's important to note that of course Money is not made in in bull markets. We've taken a look at this numerous times You can dollar-cost average all you want to and in bull markets It's not gonna really do much for you unless you get in when things are extremely low like right now That's not an investment advice is just fact of what I'm doing. You can do whatever you want to But I think there's something to be said for that and then a study a study published by a financial giant Fidelity in October Show that 74 percent of institutional investors surveyed plan to invest Into digital assets and and this whole story just reminds me of like, you know, cuz we there's a there's a Conflict of what's being said here, you know on one side you got JP Morgan says No, no one's really gonna get in that and then on other side We've got the data that says that no institutions will get in of course retails here But of course all the tourists are gone and it does remind me it just reminded me of the things that are said publicly for the things that are done behind closed doors or or really just to just to Slide of hand and to redirect what people are looking at and approve my point There was this great little snippet here And this is when I had for another show Jerry Hall on and we were talking about Kevin O'Leary and How he came up against a squawk box and and he talked about how great crypto was and everything else They pretty much called him out on it. So just take a listen this real quick It's about a minute and a half and what kind of make you understand that even though people say publicly one thing They do things behind closed doors a hell of a lot differently. Just take a listen right here This is about a minute or so Time goes so quick. I just it seems like only yesterday. I was totally Arguing with you on on squawk box You went from Charlie Munger's view on Bitcoin to Michael Saylor's view on Bitcoin and I actually kid you about I said Who are you? You you you may know nothing, but you're never in doubt You're so strident when you said it was just worthless and rat poison and then six months later You're like this Bitcoin bull and and I so I didn't understand that conversion Did that conversion coincide with the 15 million that you got from from FTX? No, I was investing three and a half years earlier than that I changed my mind back at early 2018 when I saw the regulators and jurisdictions like Canada, Switzerland and Abu Dhabi Start to change their minds, but I'll tell you what really got me investing Joe Early 2018 right now Kevin could have gotten some dates wrong. I mean it happens. I forget things I forget where my keys are I forget the certain dates when I invest in the crypto I get you right, but early 2018 is when he's when he changes mine started to invest. However This is a nice little article from May 14th 2019. Mr. Wonderful can literally calls Bitcoin garbage And it take down the whole crypto industry and I got to tell you it's that all that adage watch what they do Not what they say so in the background when we hear about these things we're like Oh, you know Bitcoin is dead and Bitcoin is dead today and Bitcoin is dead tomorrow and of course everything's gonna gonna collapse Just to Matt just remember that It's not the case. Take a look at something like this Bitcoin is dead and we hear this all the time crypto is dead Bitcoin is dead. Here's a cumulative straight. Here's PNL. Just a markup. It's all the same thing over and over again Yeah, so again, just remind just remind yourself and you're gonna hear these stories more often you're gonna hear this from the MSNBC the CNBC's the Financial Giants the smart money what I call big money is they're not really that smart and there's gonna come out and just just rally against it and That's just how it's gonna be for this entire bear market. And that's why It's so difficult to get through it because you keep getting bombarded with these things But that's just how it is which will lead me to my next point Jim Kramer Everybody seems to love to hate this guy, but he does make a good point here And I'll go over this article piece by piece So dream camera just as I see to do a big crypto sweep says I wouldn't touch crypto in a million years And I gotta tell you what he says here. He's right Sorry, he is So this is what we got Jim Kramer again, I would not touch crypto million years because I wouldn't trust the deposit bank What he's talking about here is essentialize exchanges and he's right. I don't trust those guys either I don't trust any of them anymore. I mean, how could we I mean, we're just so I was gullible It's just the truth. So when he says something like this, he is a hundred percent right I don't trust any centralized exchanges either. So good one on you Jim. You're right He says I'm just saying you are using a lot of blind faith And I like to have my money at JP Morgan and I check on money to see whether my balance is there It feels good, but I got to remind Jim that you can do that Publicly you can take a look on on your wallet, whether that be a Bitcoin wallet, Ethereum wallet Binance marching doesn't matter all your all your wallets. You can look up all the transactions and let's just pick one Like this is on ether scan that IO Yeah, let's try. Okay. I don't know who this is. This is not mine Just you know, but you can look a look and say, oh, I got how much tokens do I have in this one? Why this guy's got hex twenty four dollars worth. So look at Let's see. What else you got Alice era sleep alchemy four cents. Watch out baller, but you get but I mean They're at the OMG network. That's weird, but okay So, I mean you can look at this all day long on everybody that's out there as long as you know They're their wallet address you can take a look So I know when when Jim's like it makes me feel good because it's in JP Morgan I like is it really because remember if it's in JP Morgan, they're also doing fractional and reserve lending and you know Who knows if that's really in there. Hey, I'll tell Jim this Everybody who who is that JP Morgan then in the in a specific branch of a bank if you had a Not even not even a hundred percent fifty percent of people run up to the bank and go Give me all my money of like we'll come back next week because we don't have it because what we don't carry money here We don't carry that much anyhow. So when he talks about how it's there. I get what he's saying, but come on He says and he's writing this one try getting your money out He advised crypto investors adding that when he had money at a crypto firm It was a fight to give them money out a fight and he's right. It was that's what we have the rules underneath It's all gone. Don't invest more need for to lose everything's a scam. Don't leave any exchanges I think we've all learned that Ledger's coming out with this cool thing called stacks. I've got my ledger nano s and x's works out great Don't use leverage and take profits. So when Jim talks about he's right on that one on that one Here's where we differ. I Says I think that everybody who owns these various coins, you know Solana like coin. I do think you're an idiot. Okay. I didn't go to college to get stupid These people who own these things should not own them. They shouldn't own them I don't see the point of this one real I mean on some of these I can see, you know, like I Mean if Jim would have said made the debate about Solana being the decentralized issue and whatever like, okay You got a point but in all these things It's it really just comes down to what is the utility? How big is the community? How how good the tokenomics? How big is the team? The thing we always talk about which is the cut? See you TT and then he says sec to do a big crypto sweep He says he says I think they need to do a sweep. They have to stop people creating money and In this one, I kind of do agree with them. I I Agree that that on some of these projects. They are Kind of worthless in all honesty as far as far as utility goes but I'm gonna take this one step further and I want to show you where I think things are going I think this was a Snip it that's Larry Fink. He's the CEO of Blackrock, you know Blackrock 10 trillion assets under management It's about 50 seconds. Take a listen. This I think this is where things are gonna go And I think really what it comes down to is just getting just meeting in the middle with regulators because they're not gonna give up Okay, they're gonna regulate the hell out of the centralized exchange is fine. I don't care I don't I don't own soccer knows. I don't care, but for the projects and things like that Here's where I think things are going so just take a listen to what he talks about here And then before I play it I want you to pay really close attention to see if he says crypto Or if he says blockchain very important take a listen here Nation of what crypto is it's supposed to be Distributed ledger that is across the system. I actually believe This technology is gonna be very important. I am I you know look at it We have been part of a huge revolution in investing through ETFs We believe that ETFs will be changing the whole way we invest I believe the next generation for markets the next generation for securities will be will be tokenization of securities We will and if we can have that distributed ledger that we know every beneficial owner every Beneficial seller we all have our our code of who's buying who's selling instantaneous settlement And think about it changes the whole ecosystem Yeah sure does so yeah, so just pay attention because like some people are gonna say and I hear you understand You know what Larry said there is like what was he talking about crypto? Is he talking about blockchain because he talks about this is some pretty good It's a pretty great stuff as far as technology and in all honesty So for this one if you take a look at it And you say to yourself well, which way is he going? You could do these things on a on a private blockchain, but here's the thing if you're BlackRock and you've got global clients and they've got a bank in Bangladesh or in the UK or in Ireland or in Romania or someplace like that and you're gonna trust their ledger with your ledger and go back and forth I think that's how it's gonna work I think if you're gonna tokenize securities and we talked about tokenize securities. He's talking about tokenizing stocks Stocks are securities. I think some cryptos are securities. I think there's an investment contract. I do I know people hate me for it, but it's the truth And I just think if we can just get out of our own way to say, you know what? We know Bitcoin's not a security SEC can even even Gary Gens is gonna admit that says it's commodity great If you want to go forth and just go okay, everything else is security for first of all I don't know how you can say it because because the utility aspect, but that doesn't that doesn't matter right now If you just say, okay, it's a security fine Register it. Here's what it is. Pay or taxes move forward And that's it and we sec and we can put those we can tokenize stocks We can tokenize real estate. We can tokenize. I mean anything that you really think even commodities We could tokenize those and put those on the blockchain or Larry one solution and everybody moves forward so much Really, do we really need the crypto number? 584 out of 10,000 that are out there to really get going and I'll think that's that's how it is That's just how I see things Anyhow, let me just think about that in the comment section and I'll get People won't like that, but it's just how I think and lastly And I also disagree with this one with Mark Cuban. So Mark, he makes a point But there's some things that it can't get on board with here So Mark says Bitcoin's a good investment. Gold investors are dumb. First of all, gold investors are not them. I Well, I mean, you could be right there like I invest in gold and I'm not too smart But I still do and I I still think there is is a piece for gold here But anyhow, so Mark Cuban was on a podcast it was Bill Mars and And Bill was talking about how much he likes gold and he says but Mark goes if you have gold you're dumb as f The podcast host bill mayor preceded argue that gold never goes away and is like a hedge against everything else Cuban replied No, but it's not a hedge, right? What is the stored value and you don't own the physical gold Do you golds a stored value and so is Bitcoin? I gotta agree Gold is a store of value and so is Bitcoin It just one is extremely volatile and one seems to not do anything That's how it is when you own gold all you own is a digital transaction. You don't own the gold bar. That's not true You can all the gold bullion you can own the gold bar you can own that you can keep it there It's not I mean a lot of people don't do that, but you can and that's just the truth Until like think 1974 Somewhere around there. You couldn't own the physical gold, but now you can so that's that's that's an accurate If everything went and he says if everything went to hell on a hand basket and he had a gold bar You know what happened someone will beat the f out of you or kill you and take your gold bar I gotta just agree here I think in all honesty if anything goes to hell on a hand basket and it's Mad Max Thunderdome type of world They don't give a crap about your gold bar what they're gonna steal is your water They're gonna steal your food your shelter and and your weapons So like when he talks about that I have some of the gold bugs and even like some Bitcoin people like oh Which you understand it's gonna be really really great in doomsday. No, it's not People are gonna steal your food. Come on. Don't be stupid. And that's it So look that's it for today and my little rants that's going on Try to make this a little bit quicker and go from there But that's it if you got take off take off now I'm gonna do a Q&A answer all your questions best my abilities we go from there, but I gotta tell you I think this is It's the best time to make profits But it's the worst time mentally because you have to get through the slog and good luck with that anyhow Q&A Let's get to it. Let's see. Hello, Tesla Yeah, should we my dog gone stay a day more Cuban. Yeah Name calling is not cool. It is not cool trust no one in 2023 to verify. Yeah, that's it Like rocks like right it inside black rocks a bell weather for where things are going I think it's gonna be a pretty good day when they come out and say this is it As far as crypto goes But yeah Kramer did go to college amazingly I Don't think anybody went to college to get stupid. No, but I think they went there to spend a lot of money That's for sure. Yes. Thank you, Bikki for all the links. I appreciate it Yeah, be real. Nobody has savings. I always got a good point. I saw Some data that came out that took a look at the amount of debts that's on The average Americans credit card it is skyrocketed skyrocketed and also Data that looks at the amount of savings that people actually have and during the pandemic When we were air dropping money like crazy We had a pretty good amount of savings and now that we're out of that time frame and people had a chance to spend things The actual savings accounts have been dwindling rapidly And then once that runs out people put things on credit cards and then when that runs out Then we go through Credit crunch foreclosures and you know the rest. So that's where I think we're going in 2023 I don't have much faith in 2023. You just really don't that's okay Like some people look at me like well, Rob, you you know, you're so down about about the market not really I mean trust me. There's other things to be down about it. It's not the market The market is the market and we just had to be realist about it This is the time to invest into things and you know, one's gonna want to hear this well some some may not come Want to hear this but you're You're a long ways off from from from really hitting all-time highs And so this is the time to think to yourself. What's my options? I Can sell everything and take massive losses. That's what I could have done in 2018 too But I'm pretty damn stubborn and I don't like to do that So I just wrote it out and Delta cost average There was times when I would step away from the market because I was just so sick of it I was so sick of hearing people like myself going you just got a dollar cost there We're just gonna get in there and I was like, who the hell is this guy? so like And then I would take a step would take breaks I would come back and I mean and then that would happen over two or three years So don't worry. It's not like I mean if you're here right now, you're not a tourist But at some point you're gonna lose a little faith. You're gonna get go away and that's normal It's normal to do that and you'll come back and you'll get you'll hear a good story Or you'll see some good data and and then of course things will will fall apart You'll you'll leave and come back and that's just usually how it is For the majority not for everybody. I think if you're here right now, you're probably one of the one of the rare few that sticks around for the whole thing and That's it and then of course the next bull run that happens, you know Then of course the big question will be can you sell in time? And that's that's harder than I think that's one of the harder things to do than buying dips Yeah, it's a good question so isn't that what black black rock jay Morgan I've been doing developing their own private blockchain on top of certain products. Yeah, I don't really know so like You'll have Ethereum working with different different companies to make their own private blockchain. So I don't know not a developer exactly how that works, but As time goes on, you know, you have you have black you can have private blockchain within your organization and bring people on to it, but What's the point of that in a in a in a in a private ledger? I don't get it. So like that's the whole beauty of it. You have these ledgers, you know scattered about on You know hundreds or thousands or tens of thousands of different nodes and everybody can can take a look at it And they can verify it and they can be validated and they can go through that's that's where the power is the power is not just I we've got two ledgers one here and one at Pete's place and Me and Pete verify it. So you're good. That's not that if I think as time goes on people have to understand what blockchain technology is Then they'll kind of understand it Okay Rob, which does better 25 Tesla stock of Bitcoin probably Bitcoin. I feel more comfortable with Bitcoin honestly I have some Tesla stock I'm not big into stock, but stocks, but my own some a more bigger answer. Excuse me crypto and ah And real estate no, I didn't who's been Mackenzie. I don't know that person Your view on polka dot thinks I'm probably do pretty well depends on if they can keep developing and move forward It's all depends. It's just like it's just like regular businesses, you know, you can have a great idea And have a good, you know Foundation, but if you don't grow expand get a new customer base have real utility and actually make it out Then if you're not growing you're dying and that's just how business is so if polka dot can't you know bring in You know other huge businesses that want to build on top of it or want to actually use it and have real use case And real utility and distinguish themselves. They will die just like all the rest of them I'm rooting for them. No, I own some let's see As the worked what's the exchange you trust the most during these times or what do you look at when evaluating risk in exchange? So I look at first of all, how long they've been around, you know, how long do you know how long Kraken's been around? It's a good question. I forgot. Let's see There's this website I don't know if you've heard of it but it's band teaches crypto and it's free and There's this part That first of all, I'm just letting you know it's free to a point because everything's on there is an affiliate link So like when you click on Where are we? When you click on like the coin-based thing, that's an affiliate link, but they haven't really paid out any Fillets anyhow. It kind of sucks And then Kraken that it is an affiliate link and also coup coin affiliate link, but these are the ones I use but back to the question Rob You know Coinbase was established in July 2012 and Kraken it was July 2011. Can you believe that? Yeah, long time Long time Kraken Kraken. Oh, I gotta change that Jesse Powell's not the CEO anymore. There's Johnny Lou 2017 so yeah, it just depends on how long things have been around and I gotta tell you longevity kind of gets into me So like for me I just buy everything on Coinbase and I transfer it to my ledger very simple and the ones that can't go to my ledger like near I just put it into my my near wallet. That's it Dan you are not doing DC with James and many more No Rock you grow a big point center. I've already had one But I just I trimmed it down Ran ran not Dan now. Yeah, Rand's on the show now. Good. That's good. I just don't have Just too too toxic I Was I was tired of the I was tired of the Of the negativity on my show. So I just had to step away Yeah, I sin city. What's up gents? Where'd you guys go dang it? Where'd it go? I hate when I have my there it is Hello guys You guys are doing great things. Check out their channel sin city crypto. I used to live there for two years Well, Henderson or hendertuckie is people in Las Vegas called Yeah, I think Rob hides all his gold bars in his mouth. You know where I own most of my gold in And I trust In my crypto IRA because they allow me to do crypto and gold and silver. Actually, I have gold and silver in there so Yes Exactly by home bug That's a good one. Let's see Partner there is Let me see here want it. Come on. There we go So big he says do you think crypto? Crypto suffers from the Gardner hype cycle. I think I'm a big believer in cycles Predominantly here and then you can see here Gardner hike So this is this peak of inflated expectations, this is every every all-time high And every all-time high Is the same thing happening over and over again every four years? so like in 2013 You know Bitcoin people just thought it was gonna be that that was it people are gonna You know FOMO in and and they did and that was it But of course, you know it dies down because people like wait wait who how many people use this not that many okay, cool, then of course in 2017 we thought it was gonna be the biggest thing ever and Then we started to realize wait who who's gonna use this and then of course this, you know CME had their and their futures contract Which allowed them to short the hell out of Bitcoin and then just everything just demolished And then of course here we are again in 2021 and we just got way ahead of ourselves and I Personally believe that one of the problems with with 2021 because it was it was just different than here and here There's no blow off top per se But there was a good one. Caitlyn Long was on Mark Moss's channel and she was talking about how the bull run was stolen this time basically because of of over leverage and rehypothecation and Just the demand for not real Crypto not real Bitcoin, but paper Bitcoin and it screwed everything up and that's and That was part of that was all these rehypothecation Centralized players and that's I think what screwed everything up now. We know our we know the lessons here And I think it's gonna be a better It's a better session. Hopefully in this next upcoming cycle, but we'll see So yes to to answer Bickey's question in a long grown-up matter It's always the same thing and you can see like doesn't this match every four-year cycle Like look at this It goes up little plop and down, right up Down and a little blub up Yeah, yeah Jesus crime to Christmas that looks exactly like it look at that So, yeah, and then the next one was a little bit screwy, but and you can see how we're going so good question, Bickey Let's see Do you think D5 will do them do well the next cycle? I don't know. I always thought that gaming would do better Gaming and NFTs not the goofy NFTs that we buy now. They're stupid but like the ones that like actually have like utility and like NFT for like your ID or NFT for like real estate or or tokenization of like assets like like Blackrock CEO was talking about so That's where I see more things going, you know real utility and actually does something Yeah, Jim Chow. I doubt Binance's point is buying Voyager Huh, how much that billion is BNB that we know is insolvent Financially, I'm playing old voyager asset very sufficient. I was cool when we've been next to the earnstake. I Don't know about Ku coin, but as I understood it and Jane and everybody can can correct me on this one I understand this was a cash deal. It wasn't they weren't putting up their BNB coin For Voyager, I don't think so because that would make no sense because if you think about it, that's what That's what FTX was doing They're gonna give FTT token to Voyager and everybody in the whole and that token is worthless But I mean that could be wrong That doesn't make any sense. What the hell would they why would they go for that deal? That was the deal Yeah, Aristotle say yeah past performance is never indication of future performance exactly so I tell my wife all the time So let's see Any good AI projects? No, but I mean There's some great websites. I should I should share these websites with everybody. They're pretty great like you can do like automations of Like script GPT and you can do things with like a pictory app.pictory.ai you can roll your your videos through and and spit out some really good texts. It's awesome A rational says a second half of 2023 everything rises. I hope you're right that'd be great What are your top 10 coins you pull from drip drops on Cardano Rob? I haven't pulled anything from there And I don't know how long are any of them worth anything that that I guess that'd be the big question I like what drip drops is doing. It's pretty cool You know when you when you stake with you know with like D news or something for your Cardano It actually give you some other tokens, which great Fetch it. Yeah, fetch AI Fan man. Hey Rob. Did you ever buy in the Cryptiverse? Yes. I bought four parcels of not much happened with them Don't expect them to anything happen for like three or four years Let's see CZ is obviously much fresher than SPF if you think so Whichever comes the bag Yeah, I mean it's hassle in the same boat. I want to get all my money back to you That's it also I'm gonna let you guys on a little secret I am going to do a giveaway and and Let's be honest. How many of us are in peak performance shape raise your hand? exactly nobody so New York's resolution is coming up, right? We want to get into shape in some way shape or form, right? so I You can do anything you want to but the easy way I found to get in shape is just to walk Just just start walking more and for that We're gonna use sweat coin because I am heavily biased because I own a bunch of it And the sweat coin app is free to download. Do you know that you can balance for free and What we're gonna do is the top 30 people right now? There's a leaderboard and there's only like 120 people in there So what I want you to do is we're gonna download the sweat coin app We're gonna start January 1st. We're gonna stop January is a 30 or 31 days in January. I forget and What we're gonna do is the top 30 people you guys are gonna win things and we've already got some some some good deals lined up first of all when it's gonna get An end of the cryptiverse Premium membership. You're also gonna get a coin ledger Membership which is to for taxes You're also gonna get like between 2000 and 5000 sweat coins and you're gonna get a shield folio all those things for number one number two Person who comes in second you're gonna get like a thousand sweat coins You're gonna get a shield folio You're gonna get access to some other things that I'm talking to people with perhaps maybe a ledger or a stacks or something like that and It's gonna be it's gonna The rewards are gonna diminish as we go down That's really not the point the point is to get you out there and and get up and move and all those things And to do that I'm gonna motivate you by giving away a bunch of free stuff so Look that we're gonna This is gonna be finalized before The end of this month, so I'm talking with a bunch of different companies and I'll get it all straightened out But the but the goal is to get them right way a bunch of things so everybody's like I want to participate That's it That's it. That's my big big spiel. That's all I got. I gotta go So everybody thanks for stopping by appreciate you if you liked today's video give it a thumbs up consider subscribing Maybe youtube will notify you maybe not it's a crapshoot. That's it for today. So thanks so much for stopping by appreciate you I'll see you guys in the next one. Have a great day. Adios