 Great everybody welcome to the live stream. So just as the thumbnail and title suggests we're gonna take a look at how what's going on With grayscale is probably going to lead to a lawsuit against the SEC and we'll talk about exactly why that is And I think it's an inevitability. So we'll take a look at that story first Also, we'll take a look at what I call clown news as India a member of parliament comes in and says, hey You know what 30% taxation we need to increase that and then lastly, we'll take a look at two big stories Luna how much bigger it could actually be and what they're doing as far as buying with Bitcoin, which everybody knows what they're doing right now But how it could actually be if it wasn't for the SEC stepping in then also we're gonna talk about a pretty massive hack This is for Axie infinity and Ronan, which just happened probably about an hour ago So they look at all those stories and also do a Q&A at the end five questions in five minutes But first let's do a quick market recap. So first of all if you're here for the live stream Thanks, this is the first time we've done this in like the last two days. We've had issues with as a man Jesus working We've had some issues with electricity here in the Puerto Rico house We're trying to get everything settled because we're actually leaving going from Puerto Rico Back to Texas for family take care of some other businesses over there. So we're getting everything ready So the last two days we were kind of out of commission, but we are back and it's a pretty good day to come back So real quick if you're watching the replay just as we time stamps You can fast forward all that great stuff and then news takes about 20 minutes Then we the Q&A stuff. So let's jump into it. Ah time is precious. So first of all before we actually get into The market. I want to say thanks to everybody for helping out with James and the best answers in his channel Apparently YouTube again took down another crypto YouTube channel. I don't know why they do this. I have no idea I have my theories, but let's just say it's a mistake. No harm. No foul, right? So I want to thank everybody who actually helped out. I did this little tweet yesterday. I said, hey man Hey YouTube come on Can you help us out because just like you took down Tony's channel of thinking crypto and and Jason over a crypto Crow and Paul Brown Paul's channel, you know, there's just mistakes So could you bring this in and if you don't know James over and best answers? He had his channel taken down yesterday We're just kind of stressful when you work your tail off and there's no, you know You just kind of sitting there and all of a sudden it's just gone So you really are there with your hands tied So we do what we always do which is tweet at YouTube get everybody to do it We had three and three four retweets bunch of likes and then of course people did their own thing And because of that and under 18 hours James had his channel back. So congratulations that's how it's supposed to be done and I've done this for I this is probably like my seventh or eighth crypto channel We've done this with to just help it out So if you don't know like you feel powerless over on YouTube because you can't do squat in YouTube If someone take a channel down You move it over to the platform on Twitter or any other kind of social media and then tweet at them And all of a sudden everything is rectified. So if you Are not following Myself and all the rest of the other crew go over to Twitter. My my handle is that news asset. So thanks everybody. All right So that's the first part today is a good day. Look, we're down just a little bit, but who cares? I mean Bitcoin over seven days. Look at that 15 percent there. I'm at 17 percent over seven days 9% of mine is gone. Everything's looking good Cardano 30 percent watch out 10 percent for Tara 24% for slana. It's like Salon and Cardano kind of duke it out Don't they they kind of flip around and Tara Tara sometimes right in the middle. So it's looking pretty good, but Yesterday I didn't I couldn't come on because I know electricity in the house But I was gonna tell you yesterday Just like I say it when all these pumps hit is if you haven't done so already It might be a good idea to take profits. That's an ugly word to talk about in crypto crypto world, but I mean At some point you might want to think about that and that's not investment advice Just investment opinion, but I've been stuck before and you never know where things are gonna going So like if you've already got like a hundred percent gains I figured I'd take it now it all depends on your situation your tax Situ, you know might your tax situations if you're mine. I don't pay capital gains in Puerto Rico So just be aware, but if you're thinking yourself, I need some dry powder might have been a good time to take it All right, so that's what's going on into the market. Let's jump into the main story Shall we this? I felt was pretty interesting Gray scales fight for a Bitcoin ETF could end in a lawsuit against the IC so I'm not gonna say could I'm gonna say it's going to I'm gonna tell you why in a second. So this is the story. So the SEC The final deadline to rule on the digital asset manager's application to convert the grayscale Bitcoin trust or GBTC into a physically backed ETF is July 6th Should the SEC reject the filing grayscale would consider a lawsuit as part of its response This is from grayscale CEO Michael Sun and shiny says look I think all the options on the table come July the basis of the argument lies in the fact that the SEC is a lot of Bitcoin derivatives Back ETFs to trade while continually denying Spot ETF application grayscale Bitcoin trust today has been traded since 2015. It's a long time and it's been pretty safe I don't think there's been a bunch of manipulation on the SEC has come down and said you guys are you know fronting investors And we're trying to protect investors none of that and it's been an SEC reporting company since January 2020 so every single day That it's trading and being bought and sold by investors and is not being folded into the familiarity and the protections of an ATF wrapper. We really don't feel the SEC is doing everything They can To actually protect investors he said of course, that's the Grayscale CEO grayscale Bitcoin trust currently trades at a 20% discount to net asset value and then sudden shine said this He goes it's not a matter of when It's not it's a matter of if a spot Bitcoin ETF is approved. So here's the thing The only way out of this situation in all honesty is you have to sue the SEC because they're not going to approve it I know people have been hanging their hat on that. Oh, it's gonna come. It's gonna come I've been here that since 2017 and actually I wish I would have pulled this up. There was a video From 2012 It was with Roger veer and he's sitting there and he's talking about how Bitcoin is it was the 20th Bitcoin's a hundred bucks and maybe go to a thousand dollars. We're really making good strides And you know that Bitcoin ETF is right around the corner. We feel it. We know it's gonna happen 2012 2013 2017 2020 2022 it's not gonna happen. So like I mean if it does happen great I'll be very happy and I'll be the happiest I have been to be wrong But for it to actually go through It's gonna have to come down to the SEC being sued and then have to answer a lot of tough questions Which is what they're doing right now in that ripple investigation. I think that if they have multiple Lawsuits on front on each end. I think it could be a very difficult thing to defend So let me know what you think about that in the comment section and let's move on to our next piece Clown news India Parliament So this one I can't tell you I feel sorry for people in India because I mean they work so hard. They've been I mean they had their Essentially their exchange is banned From issuing crypto or for them to actually do anything with crypto their Supreme Court They had to go to the Supreme Court and actually fight against it to actually be able to trade crypto and now With the finance minister come in and go we're not gonna ban it. They said, okay We're not gonna ban it. We're gonna tax the living tar out of you and that is awful, which makes it come out of this point cloud news so this Pay attention this one. This was good This parliament member asked government to tax crypto more than 30 percent. So parliament member Sushil Kumar Modi I think I nailed that states this I would like to request the finance minister that the 30 percent tax that he have imposed on Crypto, please consider in the coming days if this tax can be further increased Not that he's like that's too much. He's like that's not enough. We need to tax you way more Modi argued that crypto is not a commodity. It's not an asset. It's not a goods or service It has no intrinsic value. Who does that sound like? The parliament member further pointed out that the 18 percent goods and service tax is only levied on crypto service Providers such as exchange is emphasizing the needs to be increased. He states this cryptos are similar to the lottery The GST council needs to consider imposing GST on the total transaction value of crypto And then on top of that don't forget not as we want to increase that but there's another tax called the tax deducted at source or TDS 1% and that's an every crypto transaction that an Indian member Will be levied on so I don't think there's gonna be a lot of day trading going on in India I don't think that there's actually gonna be a lot of selling going on in India because they're like Why would I sell this and if you think about it actually might not be a bad idea bad thing for us I mean globally because the Indian population will be locked in When they actually buy all their crypto because who wants to sell it at 30 some percent plus the 1% Dax that source oh and also I don't if you remember this but if you lose any money on Your your transactions you can't deduct those from your taxes like here If you bought Bitcoin at 40,000 and it goes to 30,000 and you sell it. That's a 10,000. I lost That's a deduction you can take but in India you can't do that So again, not only are you are Indian? residents Citizens you can their teeth kicked in but now they want to actually go up even higher So let me know what you think about that. You think that's fair. I think that's okay Or do you think hey, you know another place is the same thing Ireland's got like 33% Bunch of different other countries have some super high taxes. I don't I don't agree with it But it is what it is. I mentioned anything about that in the comment section. Let's move on to our next piece Luna in the foundation so This has been a story been two or three days old actually I'm like a week old We covered this I think a four or five days, but Luna's foundation Bitcoin's reserve wallet LFG now holds 1.1 billion in Bitcoin and this was actually three days ago and actually if we take a look at I linked this This LFG this is the Bitcoin wallet for the Luna foundation So that's a BC one Q ends in TV for Q And actually actually Actually, it's been buying more Bitcoin and you can see it's let's see yesterday about 345 plus around a thousand plus another thousand and it's really snapping up some some Bitcoin So right now is that was that one little over one billion now. It's at one point 1.3. Yeah 1.3 billion. So it just keeps buying up Bitcoin which I think is actually going to be good. Why is that so? I need this So we'll get to the why but also I think part of the reason why we're actually seeing some increases also don't forget Michael's macro strategy macro strategy Micro strategy macro strategy a subsidiary of Michael strategy has closed a 205 million Bitcoin collateralized loan With Silvergate to purchase more Bitcoin. So not only do you have Luna? Now you got Michael sailor and macro strategy with I guess subsidiary of Michael strategy also Getting a bunch of Bitcoin as well. So why they're doing this? Well, this is why I don't think anybody's explained this But I thought I found a fascinating of why Bitcoin reserves as a release valve for the USD So just you know Luna has their own stablecoin USD the idea is to construct a Bitcoin reserve pool setup that can quickly support USD and indirectly Luna in times of crisis When the stablecoin slides in trading below its dollar pig during a crisis retail give the opportunity to exchange their Depreciated USD for an equal amount of Bitcoin So if their stablecoin slides out a bit too much and they're like hey, this isn't this isn't pegged dollar Now it's only worth might be cents or 95 cents. Well, you can change that For Bitcoin, Bitcoin's enduring success for the year as poses it as an attractive asset For investors seeking to fly to safety in the midst of a crisis For example the UST was transferring at 99 cents investor would send a dollar USD to the LFG Bitcoin reserves pool And they were save 99 cents worth of Bitcoin back, which I think is interesting I don't know how the transaction fees if there any and well, it's probably wrapped in Luna. So it's okay After the period of crisis ends LFG assumes that UST would be back to its dollar pig or even traded a premium Above the dollar value mark foundation would then slowly replenish its Bitcoin reserves by selling the res the UST reserves It accumulated during the crisis period exchange for Bitcoin. So if it slides down, they just go, okay Well, if you need more Bitcoin, we have it because we're buying a bunch of it and you can exchange the UST We'll burn that and you can get your your Bitcoin for a dollar How many you actually have and then back and forth until everything stabilizes makes sense and Luna again It was on a pretty big tear not to make I'd be a dead horse, but Tara is up 10% of a week instead of 106, you know, I wonder is Tara Let me see something Yeah, so Tara via aren't aware Man Tara was like at 30 cents. Just a couple years ago like everything else. But look at this I think it hit a big peak high in December $95 and now I think it's at an all-time hot 97 81 now I could have sworn it was at a hundred at some point. Yeah 101 0.32 and where are we at? Oh 106. So I guess yeah, it is an all-time. I let me see something Look at that 107. So this is one of the few tokens. I mean, I know it's got it's gotta be the only one in the top 10 That's still in its That's top 20 top 30. That's hitting its all-time. I correct me in the comment section, but it's looking pretty good That's how good is doing just like that. But did you know? That I think it would have been a lot better if It wouldn't have to deal with this judge orders Tara form labs that comply with SEC subpoenas So the SEC this was on this is a while ago February 18 2022 the SEC previously served Terraform CEO Doquan saw CEO Luna with this opinion during 2021 conference in New York City This opinion was part of an investigation into whether Terraform labs had violated US securities laws With its mirror protocol a platform which creates crypto assets for users to buy and sell popular stocks like Microsoft or Tesla Which would be synthetics essentially Here's the actual lawsuit and here's what's going on So That's happening in the background. So the question I have is I just wonder sometimes And this is just me thinking out loud How much is the SEC really protecting the individual investor, do you feel protected? Are you like thank god? Gary again is on the case because without him I would have lost a lot of money or are you kind of in the opposite way? I'm not being facetious I'm really asking a really good serious questions. Let me know what you think about in the comment section I personally don't think he's doing anything extravagant and I think it goes back to our first article we talked about with Grayscale on their spot ETF, which I think is ever gonna get approved, but that's just me So anyhow, let me know what you think about in the comment section. Let's finish up real quick with some bad news a hack So this just came out about an hour ago Ronan Ronan unlocks hyper growth for NFC games currently power the axi-infinity digital nation. Unfortunately was just hacked for a hundred and seventy three thousand ethereum and 25 million USDC, I think that's gotta be One of the biggest hacks I mean at least top three, right? So someone do some quick math. What's a hundred and seventy three thousand ethereum in US dollars? Put that in the comments or put that in the live chat like to see that that's got to be a ton of money So I know when people ask me like Rob, why aren't you into DeFi? Why aren't you into doing these things doing that things? It's because of the stuff like this I don't trust it. I know there's a lot of great protocols, but it's like every protocol is like we're super safe You can trust us this what's going on and I know when people tell me but Rob this time is different Ha ha ha Sure just like, you know, my favorite one was in December January or November December and I was like, I think you know I thought Bitcoin's gonna go pretty high and then people like no no Rob You don't understand Bitcoin going to 250,000 300,000 Because there's so many institutions here and there's so many people buying that it just won't go down anymore This time it's different every time I hear that I wish I had a wish I had a one stable coin Because it's never like that and you know, that's what's going on We could let's there was one more thing here. Oh Yeah, Ronan's working with law enforcement officials friends the cryptographers and our investors to make sure all the funds are recovered or be in burst There was something hey, there's chef The attacker used hacked private keys in order to forge fake withdrawals I don't know how that happens the axi dowel allow listed sky may this assign various transactions we have This was discontinued December, but the allow list access was not revoked. Holy smokes That's not good Nothing to see here What There was something else. Oh, yeah, yeah Remember that's that wormhole hack and then jump finance came in and kind of bailed everybody out That's gonna happen this time. I think that's money loss that could be wrong, but that's what's happening. So another day another hack That's crypto for you anyhow that concludes today's news So if you got to take off, it's okay, but stick around we're gonna do five questions five minutes Let's do that and get the heck out of here. So How you doing and every time we do the the five questions five minutes is always like a 30 second delay So I'll wait for him. Oh, did any of me do the math? Ah, cool. Thanks Thanks don't do more and Also Giovanni Six damn, that's a lot of money Five hundred a million imagine if you're a hacker and you got five hundred eighty a million six or a million Where do you go? Do you put that in a mixer try to move things around? I mean look at that that couple that's that stole a bunch of the theorem. They couldn't even cash out Now there's Lucas hack private keys Roan kept their keys on a central server that was compromised Take that from a developer God damn, that sucks Is that just laziness? Was that just incompetence? Can you sue somebody for that? I don't know Question number one. Why was James channel terminated probably because that crazy price prediction for Luna now. I'm just kidding. I Was giving give him go look it could go to 80,000. I have no idea. It's crypto. Who knows? I asked him. He hasn't got back to me Especially why but it's probably the same reason why crypto crows got shut down. I think thinking crypto Paul Barone all the coin daily got shut down at some point and Host of others and it's always the same reason Are bad sorry women mistake. Don't know what happened. We'll fix it. Here's your channel back. It's like a Maybe it is an error. I Don't know. It seems like there's a lot of errors. I can't I'm not gonna Give you an opinion because it doesn't matter just happens The only thing that really matters is how you get that channel back and the way that you do that is You use the other social media platforms to get a hold of YouTube the biggest mistake you can possibly have is Not having another social media platform that has a lot of users to speak to the powers that be which is YouTube if James didn't have a Pretty good following of Twitter and didn't know anybody on Twitter or didn't know anybody on Instagram or any of those places For him to get hold of YouTube will be pretty tough But if you get a hold of YouTube and then have pressure from all sides from all different types of people It it makes things go a lot faster. So that's all I can tell you That's the only thing that matters Question number two. Did you get to see Hoskinson in Dubai? I wasn't there, but it sounds awesome What if the hackers burn it then you'd be happy, right? I Don't think I'd do that. That would be something Charles has a good question. Would you consider taking profit for Bitcoin at some point? I would all the way up and then back down. Yes And you can do it a number of ways like again I know people are sick of this phrase, but your goals aren't my goals But if it was me, I have to say that because I'm not a financial advisor and I can't say that and you know Oh, that's financial advice. But if it was me, this is how I do things I Take out loans against my crypto. I use Celsius There's the host of other ones you can do you can't use D5 you want to and What I do is I will take those loans and I won't and then I'll just go by I'll just buy Lambos like Korea. I'll just buy Lambos not as kidding What I'll do is I'll roll them into My businesses or I'll roll them into real estate and the money that I took out actually works for me Because I'm not to pay interest on that right so that money better work for me in a pretty positive way and That works out like one of these things was we bought this house here in Puerto Rico now. It's not a great idea You can do that to buy your house But that you're that house you bought better make money for you or better be super important So like when we leave guess what this house is doing it's going up on Airbnb and right now We've got it's rented out two months straight and I can tell you it ain't cheap So that's how things work out for me now as far as like taking the profits depends on where you're at remember You got to pay capital gains. I don't know where you live But if you're in Puerto Rico, hey, it's zero if you're in Ireland, hey 33% hey if you're in California hey, it's short-term whatever your tax bracket is or long-term 15 to 21 percent plus The state's capital gains tax so you have to consider that and then maybe you want to say you know what I Think that's one of the safest ways to be like I put in a hundred bucks now That's worth 200 bucks Maybe I'll take out that hundred and then I'll let the rest ride or do you really need it right now? Or do you think it's do you think there's gonna be a big crash coming that there's all different types of ways But I will just say this Me personally I just take the money out when I absolutely need it or I take loans out again I don't think of this way is like like right now. It's not the greatest time for crypto. I mean, we're still making a comeback This is not a 2.2 trillion dollar market cap that we should be in I think over the next three four or five years It's a 10 trillion 20 trillion 30 trillion. That's just my thoughts. Okay Jesus give now he wasn't trust me Dan will never get shut down My time's coming man. My time's coming. I haven't got shut down yet and Rob on rumble now, but I'm gonna be on round table and I'll tell you all about that a bit Question number four, what do you think of helium project future? I think it's gonna be pretty good. It's it's to be able to lock in and to For the Internet of Things the IOT that you would need to for for data or whatnot My son does it in California. He's got a helium minor sets it up really high But there's so many people now in California doing that. It's pretty tough So it used to be pretty equitable. You can make a lot of revenue But now it's not as much because it's so saturated. So but I think it's a good project I'll see how it goes out. I don't have any but one of the few One of the few that I don't have Do you pay your pool guy grips up? No, he only takes dollars And I gotta tell you I gotta tell you between us, you know, what's a great business here? in Puerto Rico Construction plumbing electricity Electrician and then also property manager Property management for Airbnb services in Puerto Rico. Do you know what you get for that 20%? Think about that. So like if you're ever like first of all if you're in Puerto Rico, you're like, what should I do? There's so many people doing Airbnb and they don't want to deal with the management. You just step in and do management Clean the place up Get things ready deal with the guests and get 20% so someone makes five grand a month And that's just one property I know some I know one guy who has over 35 different properties and he's making bank just doing management Just a thing just a random thought. Yeah, man. You got a lot of stream. Congratulations So investor brands got to go on so do you keep the loans open the 1% loan is nice Raffa got it goes up fast. So I've never had to go past that time frame of six months or a year With Celsius. I always close out the loans What as I understand it you can keep extending the loans and I think I don't know if it goes up after that Exponentially or whatnot and I'm no brand if you're doing it on different platforms I have no idea but I try to close out those loans as fast as possible and it's only the things I need so for example Like for the Amazon business like that's a pretty high turnover, right? So you take out a loan against your crypto Let's say I need 10,000 bucks, right and I contact a manufacturer in India. What do you guys have we have? 5,000 gas caps and and 2,000 rugs and whatever else. Okay, what's the price? Here's the price. It's 10,000 bucks Okay, here's $10,000 I shipped that was over to Amazon Amazon sells them. There's a 30% markup for me I get the money plus 30% I pay back the loan and that's how it works, right? And then for for real estate, of course real estate works out, okay But you have to pay it off as fast as possible So right here like the only reason that I did this quickly is because I needed the money fast and I couldn't use the bank because it was just Try to get a loan here in Puerto Rico. It's super crappy Um, there's a video on I've done this. It's in my real estate Um Streams that I've done my playlist Uh, there's a link in the description also So what I try to do is six months or a year. I try to close those loans out I'm not doing loans for this entire house, but just for a percentage of it and then off you go Ah, I'll just buy lambos Anything on divi? No, but I know the founder seems like a pretty good pretty good project and then last question Lucas is right Teaches them. No It's an oversaturated tough business Um, oh, yeah two questions for one. That's not it Are you having a minute? So there's gonna be a meet-up tomorrow and I think we'll probably do it at I'll let you know the location, but tomorrow probably from six to Or five to five to seven five to seven five days or something like that and this will be a woman I had one my last days here in Puerto Rico for a while. I have to go back to texas. So be good and then Here's a good question. What's your thoughts on buying up unstoppable domain names? So I just I always saw this As just like in the 90s when people would buy up Website website names. They would just hold on to them and they'd sell them I think it's a long-term play But I think it works out pretty well And then also if you don't what I do like about unstoppable domains is if you don't like to Say, hey, here's my here's my bitcoin public address. Here's my ethereum public app Here's my blah blah blah public address. You could just say, you know what? Just send it to the wallet digital asset news and it it transcribes those those long Wallet addresses and it's something that's actually readable and then people can you can Uh attach all your different wallets to those and get paid So I like that part and then also I think in the long play could be pretty good. And that's it. So look Thanks so much for coming by. I appreciate it. Wow Two days off and feel a little rusty, but that's it for today. So look like today's video give a thumbs up I'll just consider subscribing time sensitive and all that good stuff and then tomorrow We'll tell you about the the meetup and that's it for today. So thanks so much and I'll see you on the next one Bye guys