 Great welcome to the last set news top stories and crypto breakdown of bite-sized pieces all that great stuff. So Just like the title and the thumbnail suggest DeFi legend says Crypto is dead long-lived crypto initially comes down to a medium post from Andre Cronhey Which if you don't know who he is, he's a gentleman that created Wi-Fi also one of tech leads for phantom This is a great article and talks about what exactly is wrong with the crypto culture and how things are kind of spiraling down and How important regulations are so we'll take a look at exactly what he says also do a quick update of TGLP and fame We're gonna also do a present interview tomorrow and lastly we'll finish up Just talk about step and deep dive on the second channel, which will be out later day And lastly five questions in five minutes. So hold your questions till the very end So, let's just get into it. Shall we first of all if you're here for the live stream, thanks for stopping by I appreciate it if you're here for the replay just know you can skip around all those great things There's gonna be stamps underneath their time stamps and then news takes about 15 minutes Then after that we go through the Q&A. So holy questions. Oh, yeah, let's jump into it, huh? And the first part here is just so you know, I will be at Consensus June 9th through 12th in Austin reason is because I'm gonna pass. Oh, it's not a very far dry for me and I'll just go ahead down there and Check out what's going on Ethereum consensus and all that great stuff I missed the Miami one the Bitcoin conference because also I was traveling from Puerto Rico to here But this one I want to go to because it was accessible So we'll see how it is if you're an Austin area stop up by all right now for that stuff Let's talk about the market today I don't need to tell you this because you know it Market's a little bit above but it's dropped down a little bit and everybody was talking about yesterday about well Tax season is over for Americans, which means it'll probably keep going up Well, that's not how every time you think you know where the markets going it does the exact opposite and here we are So in 24 hours, well, I guess Bitcoin is up 0.1 percent. That's good There I was down tethered and we cares Binance coin 24 hours just chopping sideways nothing to write home about nothing to roll out of bed I mean 2.2 percent for polka dot we Yeah, 0.9 for bond of Luna 0.4 percent Interesting interesting 2.3. I could do a story about that bond of Luna 94 61 and of course Got Tara over here number eight. Oh, I gotta check that out and then a coin is up 20 percent Congratulations like a coin holders. I don't know any of that stuff Wish I did though would have been up and a 2% so that's what's going on in the market And I can just tell you that What I always like to do is take a look at well if the market's down a little bit today What's going on with the traditional market and actually because I think it's correlated personally, but the S&P is It's going through a wild ride, especially if you own Netflix. Good luck with that But just all over the place it opened up at 44 72 now. It's at 44 71 72 that's about the same thing. It's slightly slightly up. Also really what I think Our crypto markets really correlated to Nasdaq and you can see it's down again. So I know people say well It's not really that correlated. I don't know man. Every time I do a video. It's the same thing Crypto's down a little bit bit coins I mean and nasdaq's down a little bit or it's up or it's sideways and that's just what's going on Also, if we take a look there is some good news though That is if this is a Benz website from any of the cryptoverse great website There's a link in the description not affiliate link. Just check it out. I love it and one of those things is monthly returns Based on by month to month and I will say this video. We did today a couple days ago two or three days ago April's returns were negative 14 Daily only negative eight. So I mean, that's good news We'll see how it goes till the end of the end of the month, but that's what we got and statistically or typically April's been a pretty good month overall. It may and not too bad than June Then July starts to kind of slide off in August and September is just awful usually but again past performance It's not indicative of future results But then you can kind of see that October November December look a lot better Which is why I think I'm gonna really look at this closely and start to start to Decrease my positions in May and June when in selling may go away might be actually true and also just as a quick reminder Even though I know some people say oh, this is a that was a terrible title Rob terrible terrible thumbnail Hey, man, I didn't say it. I said in the title Andre Crone or if I said defy legend, I guess Bitcoin or crypto is dead long-lived crypto and if you take a look at it like we've always talked about in this channel Over the long haul things are going to go pretty well. This is again Regression ban logarithmic and you kind of see that we're actually overvaluated For the market the fair value is 1.61 trillion. We're sitting around 2.2 point zero. So that's like 1615 some 15 to 17 percent some around there, but of course as we go up You know 2.3 in 20 2023 2.3 point zero and July doesn't only three. I'll stick around for that I'm okay with that. I could see that but just remember Fair market values where we're at we could go below could go above nobody knows Let's break into the day's top story. So this is what we got I thought this is fascinating and this is was a medium post from Andre Crone. Hey, who the heck is that? Well, like I said in the in the beginning Andre Crone He's a gentleman that created Wi-Fi or yeah Wi-Fi and I always gave him a lot of guff because I Always felt like he was going too fast and breaking things and there was some different issues with some Some not rugs, but hacks and things like that and but he does best and he was trying to push things along good for him I was also tech lead for phantom wallet and there's another there was another project that he was a part of Keeper network. So this gentleman Was one of the first and he's really one of the one of the ones that really kick off defy That's why come with defy legend. Hopefully it comes back But he's he's taken a step back, but he wrote this great medium article and said this Crypto's dead long-lived crypto, which is a great line I got to admit if you really want to get sucked in that's a good line And it but just it just evolved from there and it was awesome I'm gonna I'm gonna read some some of the key parts to what I think is important and it really comes down to Where you think you are Where you think you should be and if you take a look back Hindsight is 2020. Were you always correct in the past? I? Don't know. I gotta tell you for me personally. I've been wrong a lot in the past This made a lot of sense. So he says this he goes. I wish I was older I wish I was old enough to see the birth of monetary policy I wish I could have seen the mistakes they had made because I believe we are repeating them And of course when he's talking about monetary policy, he's talking about traditional finance He said what's being built in crypto is being built by people that read a Wikipedia article on bonds or dead instruments And then think to themselves I can do this better, which I think we can we can all say that right? We take a look at a business and be like and I could do that way better I've thought I've been there before I could do that better And then he gives an example as far as like encoding and I'm not gonna leave the whole thing to you But what he really says is you coders can take a look at co and say this is an awful piece of code What trash, you know, what an awful or what an awful crypto what an awful defy project I could definitely make this better and then he says as a coder at a top tier one at that He says you go home and you you know over the next days weeks and months You write all this code and then the very end you're like shoot now I get now I come back to the original thesis of why these guys did what they did or gals and Guess what it's the same thing and a lot of times because you realize as you go down through it I think we can we can attest this in when you're in your 20s 30s and 40s 50s 60s You start to realize that shoot now I understand why things are the way they are or why things have done this way now There's possibilities to improve upon that obviously, but in the long game a lot of times you find out that shoot This actually doesn't make a lot of sense Maybe just a little tweak and he says monetary policy is the same understanding monetary supply issuance debt bonds Sinnerage debentures commodities securities rotas can't be viewed in isolation. They exist for a reason And he talks about he's got a massive disdain for crypto culture. I think you guys can feel it, too And I think you can feel it because if you're here right now, you're not The overnight millionaire you're not the person who's like, oh, I'm just gonna invest in a week and be you know then I can quit my job and all so it doesn't work like that, you know, it's it's tough and He talks about he's got a love for crypto ethos and crypto ethos is the concept like self sovereign rights self custody self empowerment, which is what I think I Can't say everybody is here for that. I can't say that everybody's like I just came here I just came here to change the world and be a good person. Let's be honest. Come on. I Think it sounded good on paper, but I think a lot of the times when people came in this this space was because numbers go up Correct me if I'm wrong in the comments, but I think that's why a lot of you got involved into it I know that's what brought me in at first. I'm like, hmm Wow, this these numbers keep going up a one or so and then you learn the ethos behind it And he talks about crypto culture as concepts like wealth Entitlement and Richmond and ego and I got to tell you before we go on This crypto ethos Self sovereign right self custody self empowerment. That's tough. It's tough to understand those Those theories because you've been brainwashed You've been taught for such a long time that you use a bank You trust the countries you look you don't look behind the curtain and what the madman are doing and you just go Okay, I just trust you guys and just do those things So we when we talk about self custody and self empowerment and all those things It's it's a new concept for a lot of people ask anybody outside of your circle of crypto And I'll tell you the exact same thing So I think personally that For people to get there to this self custody self-empowering thing takes a lot of education and it takes patience And that's exactly and this isn't little Gratuitous plug, you know that my website Dan teaches crypto. I made it free for everybody for that specific reason So we talk about like self empowerment and self custody I got a whole chapter on how to use like a ledger wallet and a tracer and all that good stuff and And a metamask wallet So if you're just like if you know it great But if you have somebody you don't want to spend a time of teaching them just send them my websites pretty pretty simple anyhow Moving back crypto culture he states has strangled crypto ethos a professor and this this gets down to the crux Two of the crux the articles a professor once told me contracts are there for bad times not the good times Regulation legislation is the same. They're there for the bad times. We knew most. It's not the good times when it's all Honeymoon and champagne. I think we can all attest to that right when there's a bull run We're like we don't need anything and then all of a sudden This is a funny thing The more people they get rug pulled and get screwed out of their out of their Crypto the more people like we need some regulation It's the people that really have and have it not all the time don't jump down my throat But I think that is what it is when more people get screwed over they're like, you know what? We need more regulation and this was actually a fair point when I posted this This article this from Jake flowers. I'm guessing he's a pilot But he's makes a great point. He says there's a reason the saying regulations are written and blood exists in aviation It usually takes some paradigm shifting some bad event for someone to say hey We should do something to prevent this from happening Same thing will happen in crypto. I think it's happening right now. I think especially all the difference the fail safes are there I know you know My feet my thesis is not very popular in the crypto community. It just isn't I still say that we need a little regulation And I'll stand by that And I always say like this a little regulation is good It's like cake a lot of regulation is not so good I mean a slice of cake is okay, but you know three entire cakes shoved on your throat is gonna just ruin your night and your toilet probably so That's really what regulation is and then to finish up He says we're entering a new age the current iteration will become the badlands where unknown wallets lurk in the shadows We'll see the rise of a new blockchain economy not one driven by greed but instead driven by trust Not trustlessness. I thought that was interesting because usually we just talk about a trustless Blockchain I find myself more excited than ever and That was it. So that was The whole article I thought it was just fascinating how he kind of comes through and just says, you know what? These are the things that I thought I knew and again This is somebody who's lived it who's done it who's created DeFi and his move forward is like this is what I thought I knew As I go through it I realize I don't know everything and my opinions change and even he is like, you know what? We really should get some regulations in there and yeah, let me know what you think about that in the comments section I'm sure it won't be great But if it is a if it's not that's why we have this open great society freedom of speech and that's what's going on So let me know what you think about that comment section. Let's move on to our last two pieces and we'll get out of here Just real quick quick update the tglp and the fame token I talked about this on My second channel digital asset news D gen I say D gen because that's my the more the degenerate plays Where I take like 5% of my portfolio and put in those things and that's why it's risky Just if you're gonna invest some like that just assume all that money is gone. I'm not an investment advisor I'm just telling you what I'm investing into so if you look at that like it's kind of risky But we did talk about this project. It's looking pretty good fame MMA And I talked about, you know, there was a tglp Event where you can lock up tokens and you can get into this this this pre-sale not a private token You know, I see or something like that, but a pre-sale be okay and because this one has pretty massive utility and I We did the video This was a April 14th. Wow, this wasn't long ago and I got all the links in there And I said hey, this is gonna happen. So they said hey the subscriptions now open So go in and and do that so you can lock up your tglp to get fame tokens and within five minutes It was done and it's gone. So sorry about that. But I will say that I mean, you can find the video I linked the description for Dan digital asset news DJ and channel And this one's pretty pretty good. And I if we're all taking a look at like the utility this one has it all I mean you get Discount of pay-per-view. They got a player on game. All the fighters are again. They're a bunch of like Influencers tiktokers and youtubers and actual UFC fighters or ex UFC fighters You can spend on merchandise NFTs and go for staking referral links. That's the token. I'll do and it's already built in It's already like I now I say will it make the cut how big is the community? This one has millions globally What's the utility? It's pretty darn good. What's the tokenomics do? It's pretty great Because even I got in a little early and I have a lock-in period of like one or two years So I can't don't put anybody and then of course how the tokenomics. That's pretty good Actually, a lot of it goes into staking go figure. So that's it and then tomorrow. We'll have a I'll be doing an interview with Kristoff he is the president of fame MMA, which is based in Poland and the branching out in parts of EU So that's what's going on and then lastly just so you know the step in deep dive video It'll be up on the Dan DJ and channel later today. Just so you know it looks very promising, but it's got some problems That's all I'll tell you. That's what we got. So that is it. Let's think about that in the comment section Let's do a little Q&A and go from there Q&A, okay Such clickbait it worked. I'm here curse for a dang other click boy title got me again. Yeah, I Guess it's clickbait. I personally believe that clickbait is Like you say that Bitcoin is going to the moon tomorrow and then you put out some lame-ass Data that doesn't really show anything and you keep doing it again and again and again and again And it gets people so worked up and there's so much hope you them that they just get burnt out And all those people are gone because they're like you guys keep lying to me. You say it's gonna burst off tomorrow It's not first not tomorrow. It's gonna take a lot of time And then also I think clickbait is where you you talk about you've put something in the title And actually don't talk about what it is. I always hate those those terms, but it is what it is Rob, I almost almost FOMO into Apecoin, but I heard your voice in my head. Yeah. Well, you know a coin Look at that plus 20% so if you had dollar cost average into it not a bad deal, but I didn't and Look, I'm gonna miss a lot more opportunities. There's so many different coins out there. I'm gonna miss a lot Just like Warren Buffett talks about I miss a lot. I miss a lot of opportunities, but I'm okay with the winners that I already have And that's that's it. So yeah CT Larson sold his portfolio. I don't know if that's true. I gotta talk to CTO about that. Maybe it is. I don't know What's this? The overnight millionaires make up a much larger percentage of the crypto market than the traditional markets. Well, okay I see what you're saying. You're saying that there's a lot more millionaires being made in crypto and there is traditional markets That is very true. I Don't know about the the overnight millionaires Probably so actually too because like if you can become an overnight millionaire in traditional finance Talk to me. Let me only hear about how you did that in a very Very boring market, but he did overnight and crypto. It's not totally unheard of. I think we know those people and good for them Here's a great question, Rob, do you think the sentiment over the next three months will be more bearish or bullish I think it'll be neutral to to a little bit bearish and here's the thing there was there's some news story that just came out that there's some new type of Futures ETF that was just approved for a different law Based on the books of the SEC and people are saying oh well That means the then a traditional spot ETF is going to be approved. Maybe I will tell you this I personally don't think it's gonna happen, but I sure hope I'm wrong But if it does happen that will flip this whole market. I think for us a finite amount of time I think people will really Start to be more bullish and go from there But if you have to take a look at it in the global macro sense You know What's the I mean, there's a I mean we always talk about institutional money is coming in it's coming into any day now I mean, I think there is but I think if if you could have again Ukraine Russia some type of resolution there sure if you have an ETF spot ETF that comes out big time And if you have really positive regulation that gives clarity as to what crypto digital assets are and allow these institutions to invest That would change the whole market. You just take one of those and it'll happen However on the flip side if none of those happen, then you have to take a look at the slowdown in the in the in the economic chains Or the supply chains you have to take a look at the at what's going on with the Federal Reserve as they start to Do rate hikes and you have to take a look at The growth are people that are getting into crypto right now There's not a ton of people getting into crypto because it's a it's a very risk on Asset, so I just take a look at the data. I mean I can't I Mean that's just what we see I mean, there's not a ton of growth as far as like Bitcoin wallets or crypto wallets There's other other projects doing what that can do well in the alts But it's few and far between that's why you got to be really careful. So to answer your question I think it's time goes on and we start to hear more about recession. I think people Will be like well, what am I going to put my money in you know Because I've been doing stocks here for 10 years and there hasn't been a big recession since 2008 2009 And this is what I know for the last 10 years This is what I've done or I'm gonna put in a people still put money in the bonds people still buy gold and silver I don't know what gold and silver not that much and people are still gonna buy crypto because they believe into it now Is there gonna be a big shift from the crypto markets because they go while we're losing too much and inflation I don't think so. I think for a while and just there's a I've got a playlist. It's called the crypto future and And One of those I talk about Yeah, right here this one and I just said just just take a look at the at the data that's out there and You can see just where the sentiment is actually going again. It could be wrong. Hope I'm wrong Beardy. I ran or did I feel geography? That's right. Did you feel? Let's see Senator do you have a single brother? I do not they're both married They're both morons. You wouldn't like them. I know that's why you know showing yourself Yeah And then Mark Watts said and he's got a good point when everyone is screaming recession That's the one thing that won't happen while the masses think that's what's coming There's actually some data that looks like it may not be a recession coming forth, but again If you take a look at unemployment rates We're actually doing pretty good and that's one of the big indicators and also if you take a look at recession You know, it's a it's a lagging indicator You have to have two quarters of a reduction of GDP and right now our GDP is actually going up The thing that I worry about is that the goods and services How do we increase those when the supply chains are just rotten and just awful and especially with the lockdown in China? Which I never really liked that whole point of China creates everything and then they ships it all over the world But that's a way allowed to happen over the last 20 30 years. And that's just how you go Ah I think that's it. Did I miss something if I miss something put in the in the in the in the chats and I'll pick it up again Make them the USA easier said than done Here's another thing Netflix is down 37% so Netflix I think is a pretty strong company They just came out and said hey in the next quarter we predict that we're going to only get I think it was like 2.1 million more subscribers and they just dropped off the face of the earth and I get they get a lot of they're getting a lot of competition from like Disney plus and Paramount plus and all the different streaming services and of course they're all going to compete but I Think it's just a weird just I think it's an overcorrection of 37% down for Netflix I'd actually be looking and actually buying some more of that. I love Netflix For the most part, I think we're good and that I'll leave it as this stag place just as bad. Yeah, true. All right, everybody. So that's it for today. So I know it's It wasn't the hope him. I think that everybody's like, oh, it's gonna be great and we're going to the moon Look, eventually we'll get there. It's just depends on how long it is and I'm here for the long run because I I believe that I mean I'll be here next year. I'll be in three years. I'll be here in five years I'll be here in ten years and Over time things will go up. The question is how long it's gonna take. That's it All right. Well, thanks everybody for stopping by appreciate it and I'd like the video give it a thumbs up If not, give it a thumbs down But the thumbs down buttons broke. I also consider subscribing. That's it. Thanks so much stopping by appreciate it. Adios