 Great well visual asset news. My name is Rob and today we got a lot of things to go over So you might be here because of the thumbnail on the title or you just come here every day just to talk That's great, but we're gonna go over the news which is Celsius Filing for chapter 11 bankruptcy, and we'll talk about what that is what's next and the revisions that are coming forth and some Information that I've garnered from some people who know what's going on with the Bitcoin or excuse me the Celsius mining operation So we'll take a look at the Celsius bankruptcy docs What is chapter 11 and have any financial companies come out of chapter 11 because other ones have as well Then we're gonna talk about how maybe just maybe we're getting closer to the bottom I know right now doesn't seem like it's the most happiest of news and I am not the most bullish of people I think you can understand that as you've come here for quite some time, but There are some things up there that do give me a little bit of hope and then also we'll take a look at Truflation founder Stefan rust which is a hundred percent free website You can track inflation which we've been using Exclusively here in the channel to track CPI and we're gonna talk about how that can actually help us as it has 30 points of Resolution as they get information in from chain link and lastly I want to talk about something good Which the Simon indicator turns bullish, so we'll go over all those things first Let's just take a look at some Some the market and what I call weird times because weird times You'll see like the craziest things happen like the bull market You'll see like Katy Perry talk about NFTs and she's really into it and celebrities and of course That's not really what drives innovation, but it is enticing So when the bear market comes around which we are make them mistake about it in that fully Usually don't see those goofy things happening. However, these are strange times my friend and this is no different Hostess don't laugh, but it's funny hostess. Just put this out twink coin Yeah, I know and this is from Jane Adams She ran for a US House representative and she had posted this just today And I thought it was hilarious because they're trying to capitalize on crypto right now Which is I think is goofy, but whatever so again weird time Do you see this in the bull run where goofy things like this happened? But here we are Talking about this nonsense and then of course I also had to make mention of The Bank of Pancakes I hop if you go there you can get a pan coin, which is a crypto pancake I'll get you just scan that right there. No, I hop did not pay me to promote them I just thought it was hilarious because in all honesty if you take a look at this this to me There's two things. It's POS and POW proof of syrup and proof of waffles The da da da. Yeah, I know so that's what's going on in the crazy world of crypto Which again, these are weird times if that happened the bull market I would have said that's the top right there everybody sell everything But that's just happens during the crypto winter whatever anyhow, let me know what you think about that I'm sure tons of comments on that one, but this is what's going on the market. This is what it gives me hope. I Mean not hope hoping a long term. We all have that well I kind of feel like I I Understand where things are going technology takes a little bit of time And I'll do a three year or five year ten year not a big deal in the short term though This gives me hope because what yesterday those CPI numbers came out and we had quite a dip I mean CPI came out 9.1. We went from over almost touching 20,000 to right at 19,017 somewhere around there and today it's like it didn't even happen the CPI numbers are up. Yes inflation's up and Bitcoin's like I don't care and now we're at 20,287 So if you would have caught that falling knife, which I bought I bought it somewhere around 19,200 because I told you that's what I was gonna do is what I did and Pretty good day. I mean honestly, so if you're up a little bit again think about taking profits I know it's in that weird Bear market, but still I mean if you would have bought a one Bitcoin You don't have a thousand bucks a day just saying just put it out there Ethereum's up Tethering USD coin is down because of course people are getting out of the stables a little bit to get into alts and Bitcoin I'm just gonna alts heavy, but whatever polygon up 20 percent. There's some kind of news I forgot it was but I hold polygon. It's probably gonna be fantastic uniswap Which this also gives me a lot of hope When we talked today about the true flation founder Stefan rust and just as a point of reference This is true flation. This is a website hundred percent free attracts Inflation from 30 different data set points He uses chain link has an oracle to pull an outside data and of course we can see that What the government says and what is reality is a vastly vastly different But when I was talking to Stefan the founder and he said, you know because I was complaining about C-fi and he goes, you know, you have to understand he goes look at the bright side. He goes Defi did exactly what it was supposed to do and see if I did exactly what it said it wouldn't do There were some regulated properties. There were people who in there were talking about trust and they pretty much lied to your face and then on don't sue me and then allegedly and Then on top of that if you take a look at defi it did what it's supposed to do Just take a look at Ave. It's holding up quite well. And I was like, you know, Stefan, that's a damn good point Defi probably could be the future So we'll take a look at that and it's nothing that gives me hope and especially with this strong market And that's what uniswap. I mean really decentralized exchange is going back gangbusters because people like, you know what I Don't like this C-fi stuff. I mean it was promised me the moon and what do I get? Didn't even get a star. So that's what's going on the market. Let's jump into this Celsius bankruptcy this hit home yesterday and It appeared first on CNBC and Then I had posted that and then people said that's fud don't spread fud You're a fudster just because CNBC says they know somebody inside Don't say that here. That is fud fud. Well, it's true. I mean, I've been wrong before but this one You know, it did happen. So this if you go to Celsius network the website is what you're gonna see They're gonna say can't access check our blog or visit this website and you click on visit this website It's gonna take you to Stretto case info court dockets file claim. This is for the Southern District of New York And it's gonna say very clearly on July 13th Celsius network and certain of the subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bank Secrecy code. So there's different parts of this or chapter 7 is chapter 11 But chapter 11. Yes, it is restructuring and we'll go over all that stuff in a second But if you take a look at the debtors right here, click on This and you can find this I link this in the description as well. So you can click on click to your heart's desire This is all the different debtors that are being named in the Restructuring process, but there's one here Celsius mining LLC And I've heard the grapevine. This is just straight cheese may this is just straight rumor This is these are an individual who works a lot with Bitcoin mining Says that he had also heard that they are going to be liquidating Celsius mining. They're trying to get Interests for people to buy this up. I don't know how that works in the bankruptcy courts Doesn't sound but that's just what I hear doesn't really matter Everybody's in chapter 11. They're all trying to restructure. That's what's going on if we click on back What the big thing is is Right here, let's see First day pleadings if we click on the first day pleadings These are all the documents that you can go through which is hundreds and hundreds of papers or Pages and PDF format to take a look at different things Why I'm excited about this is because Voyager had to do the exact same thing and they had a first day presentation Which really laid down a lot of things that they are going through and talking about and one of the things they said Hey, this is what we got. We got 110 million of cash 350 million of cash held in the FBO account of Metropolitan Commercial Bank 1.3 billion of crypto assets and this is again. This is just Voyager This is their petition when they went to the courts, which is happening right now on July 14th for Celsius So this should also come out relatively soon and we can see Exactly just like Voyager said or did and make everything transparent you can see The the loans the funded debt and of course the outstanding loans and who those outstanding loans went to so you may be able to dig through that Over here, but there was one interesting thing 21 the motion to authorize Debtors motion seeking entry of interim Authorizing debtors to continue to operate their cash management system if you click on that And then you scroll down The cash management system, which is essentially Celsius what they're saying In the ordinary course of business the debtors maintain a complex cash and management system Capro system blah blah The debtors cash management system is critical to the debtors business as its stream ones debtors ability to collect Transfer and disperse cash and crypto generated from their operations and to facilitate cash and digital asset monitoring folks and reporting So what they're trying to do is they're saying look if this goes down They can't operate you need to allow them to keep that up and to keep moving forward We'll see if the judge allows that I am obviously not a lawyer as I was fumbling through just that simple part So if you want to know more things about this, I am not the guy to turn to I'm just the guy that shows you these The documents this is where you can go to you can look at it through your heart's content. This is what's going on So the next question then is Well, Rob What happens for chapter 11? We had actually covered this before during voyagers thing So I just want to make this very clear. It's not like everything gets liquidated immediately. Okay filing for chapter 11 I again link in description Bankruptcy protection Simply means that a company is on the verge of bankruptcy But believes that can once again become successful if it's given an opportunity to reorganize its assets debts and business affairs This is probably a reason why they were paying off so many of its debts to get packets assets And you've seen that in previous videos here and other where other places where Celsius went in said we're gonna pay you off We're gonna pay you off give us back our assets and that's kind of what's going on here So they believe they can still operate But the question is really can they and the difference between chapter 11 chapter 7 is that in chapter 7? The company ceases operations Which is the exact opposite of what they're trying to do and leads the total liquidation of assets to creditors Which you could do that, but you probably get pennies in the dollars That's again, just my layman Armchair lawyering right there Understanding chapter 11 bankruptcy while chapter 11 can spare a company from declaring bankruptcy the company's bondholders and shareholders You and me although we're not shareholders We we own the debt or the crypto in there are usually in for a rough ride when a company files with chapter 11 It's share value typically drops significantly as investors sell their positions again This is for a normal company that is publicly traded Which Celsius is not and then it goes on to talk about stocks and bonds and and how they'll reissue things Not important to us. It's not a public company like Voyager is however This is the next question I had well how many companies have come back and we talk about this again Voyager video How many companies have come back from? Bankruptcy well some big ones Apple which had a lot of assets Was able to come back and the reason was because Microsoft Microsoft back in 1997 gave him a hundred fifty million dollar investment I didn't maybe didn't know that but Microsoft came in Bill Gates Everybody's guy that everybody loves to hate Bill Gates comes in and save Steve Jobs and Apple says here You go and the reason was because they didn't want to be called a monopoly. That's pretty much what it was So it wasn't out of the kindness of their heart General Motors Ali financial Chrysler Marvel Six Flags, Texaco, Sabaro all these big companies came out But the one that strikes me is Ali financial, which is a financial company Apple had hard assets. General Motors has hard assets Chrysler Marvel. Everybody has hard assets financial companies usually do not But the only reason that Ali was able to come back is because they were the sister company for GM And of course they got bailed out When the government bailed out GM, so that's not a real good point of reference. However, here's two examples. I found and back Is a financial group it does investor Relations and investment advice investment strategies and things like that. They actually Filed for bankruptcy on November 8th 2010 They filed for a voluntary petition for relief under Chapter 11 of the United States bankruptcy and It took them three years roughly That two and a half to get out of bankruptcy So that's one example that yes, it did happen probably not in the time you want to and that sucks But here's a better example that maybe might be better for you. This was Walter investment They had to change their name to die tech holding corporation This was listed on February 9th 2018 and it states here back in December Walter announced it planned to file for Chapter 11 As part of a pre-package restructuring plan to cut its debt by 800 million. That's a lot of money So they did the financial restructuring plan. They were able to come out pay back all their debtors now They're called by tech financial and that's pretty much it So in three months roughly these guys came out of bankruptcy So I know that's not what she want to maybe you want to hear but it is the reality that it can happen But it's not very common. It really just comes down to is how will they restructure? What is the plan? How can they come forth and really what's going on? So that Just leads me to my last question, which was this which I got a message I got a DM and said hey Rob. Can I sue Celsius? I'm like, well, I'm not a lawyer at all but there was a Website Which is pretty much like you know hire us but it was interesting So when people are asking this, this is your first step Of course, you want to sue somebody go to a lawyer Don't go to a guy who's talking on a green screen in his mom's basement talking into his computer About Can you file someone can you sue somebody for bankruptcy? Well, yes or no So here's the thing bankruptcy stops most lawsuits when someone files a bankruptcy case a court order called the automatic stay Immediately goes into effect the state stops accreditors attempt to collect the debt from the debtor You won't be able to file or continue with the lawsuit if the damage occurred before The bankruptcy filing So let me say again, you won't be able to file continue with the lawsuit if the damage occurred before The bankruptcy filing here's the allowed lawsuits though The automatic state doesn't prevent you from filing or continuing with all court proceedings For instance, it doesn't involve debts it involves a legal right that won't arise until after the bankruptcy filing Lawsuits involving debt that won't be discharged in the bankruptcy are fraud if you're a victim of fraud And bring a lawsuit for relief you might be able to file or continue the lawsuit during the bankruptcy case many debts that arise from fraud Aren't discharged in bankruptcy if the bankruptcy court or a state court determines the debts arose from fraud again I'm not a lawyer. I'm just telling you what that said and then somebody had a pretty good comment at the very bottom here Valuable divide if you can prove Fraud that can pierce a bankruptcy also Celsius is filing for bankruptcy not alex meshenski He's like going to be personally hit with many lawsuits some may be able to recoup lost funds from that avenue It'll be interesting to see that plays out again Me and valuable divide are not lawyers, but just let me consider anyhow, let me know what you think about that in the comment section and again Here's the thing Voyager and Celsius I talked about a lot on this on this on my show I did And I liked Voyager. I still like the people in Voyager. I can't believe they did what they did You know uncollateralized loans half over half a billion dollars to three years capital But here we are and then of course as I understood it for for Celsius. It was collateralized loans and looks like that wasn't even the case and there was a lot of craziness going on we will say so When the information changes I change and that's really what it comes down to to bear markets to bull markets to everything else That's why we talk about these rules underneath and that's why again thankfully to person that helped me out and told me Uh, when I went to consensus june 9th 10th 11th, they said Celsius something's gonna go wrong with that one Put out a video on june 12th links in the description nine hours later Off goes the withdrawals. Okay. So there's that one part and with Voyager When I found out that they were doing uncollateralized loans of over half a billion dollars like that doesn't make any sense Put out a video on june 22nd had the rules up already get everything off exchanges july 1st stopped withdrawals Going forward these rules underneath me. They will never leave These are my rules and you can do whatever you want with them But these will be from here through the bear market and the next bull market and the next bear market and the next bull market It's all gone Just assume that uh, what you invest don't invest more than you can afford to lose everything's a scam Don't leave any on exchanges. Don't use leverage and take problems along the way simple enough. Okay. We can agree on that Let me know what you think about that in the comments. Let's get on to some good news Getting closer to the bottom. I'm not sure. Here's what we got so This is an article From coin desk and of course, it's all about indicators. I'm not really big on indicators But it's just something to add to your arsenal It states that the market likely bottom of june with the meyer major multiple dipping below 0.5 I don't even know what that is But this is what i'm going to say every Every indicator can be useful and sometimes they're actually even right But not all the time may or multiple measures the disc the difference between an asset's going market value and its 200 day simple moving average Suggest the crypto bear market has run its course. Here's the thing I don't even know about that. What I do can tell you is that ben's website in the crypto verse There's a link in the description. It's not a affiliate link. Just go there. Check it out Uh, it can do all that stuff. So like when I'm looking at them like, uh, I gotta find that stupid thing So you can go there and you can verify it 200 day Simple moving average and you can play around with everything that you want to and you can do this on a lot of different websites But I like ben's because there's a lot of things about risk assessments And month-to-month return on investments. So I like that part And we can see right here in this greenish. I don't know greenish type of thing. Here's the simple Simple moving average 1.62 Trillion and we are the market cap is only about 900 billion. We are Gosh 45 percent below that 50 percent now 45 percent so we see like these things and of course they're talking about The may or multiple sure I can see that may or multiple was 0.53 In the crypto market value today 63 billion was worth almost half And of course this the assumptions that the market would bounce back or pull back To its mean representing the 200 a simple moving average. I don't think that's true. I'd like to use the mvrv Market value versus realized value, which you can find over There are crypto quants and anything below one is a good buy the thing that I wanted to beat in everybody's head on this one it's not about It's not about the indicators because they're never right And some are right sometimes, but you never can the big thing I want to talk to you about and gammon talked about this a market rebellion Or rebel cap rebel capitalist, whatever I always forget his good show But he says this and makes puts it very simply there's something cheap or is it expensive? Right now we're looking at the markets and everybody's trying to go. Where's the bottom? We're gonna get the bottom. What's going on? How how much can I get to it? You'll never hit it You'll never you may hit it one time or twice if you're lucky I suppose or you could call the top and of course everybody somebody in the comments gonna say Well, this guy called the top and this guy called the bottom. Yeah, how many other times do you call the top and bottom miss that? I'll never do it. I'm not smart enough But I just look at things and I go are these cheap? Are they expensive right now? I'm not buying houses. They're expensive Right now I'm looking at crypto going. That's pretty damn cheap I'm not gonna hit the bottom But I really should start dollar cost averaging which I do and I buy bitcoin every sunday Now I've been waiting because you know for these for these cpi numbers to come out. That's all you got to do That's not financial advice It's just the how the things that I look at them go. Is this cheap or expensive right now? Everything's cheap. Could it go cheaper? Sure in three years. Do you think it'll be this cheap? I don't think so. That's just the big thing I wanted to bring to your attention and then to go from there and then also When they're talking about here is and they said, you know to look at the positives The u.s. reported inflation at a new 40 decade high of 9.1 percent on wednesday Sprung the bets of a hundred basis point rate hike later this month I think it's going to be a full basis point And I think the market is going to respond by dipping a little bit So I will not be dollar cost averaging until july 26 and 27th when the fed does their meeting I can wait i'm just going to save it up and do value cost averaging That's what i'm going to do not tell you what to do and also if you're looking for Take a look at inflation and the real numbers. I mean you can trust the government. That's fine. I just don't There's this great website app that true flage. We've been talking about 100 free links in the description And it kind of it takes 30 different points And shows you where inflation really is on a continuum and they use chain link To pull in all that data and right now I I talked about this yesterday. I thought it gave us a lot of hope because look I mean we had in march. We're almost touching 11 and a half percent Then april came around and now 10.75. So what the fed is doing and this isn't looking back like cpi numbers This is real time data. So when I take a look at this and I see that oh inflation is going down I get a little bit more bullish Which I know is odd to hear me even say that word but I do because I'm like well as the inflation goes down So the fed's gonna look at the retro numbers. We're looking at numbers that are happening in real time This is what I think I'm going to be looking at a lot harder as time goes on and say well If the fed's gonna pivot when inflation goes down and now we're going down even though the retro Maybe I could front run the fed to bring this home I did an interview with the founder of trueflation stefan rust and it was and again He's the guy that was talking about hey look at defi look how much it's holding up He was a bitcoin investor in 2012. He was part of bitcoin.com and all the different things and he knows a lot of insiders or og's so this is a interview and it's about 10 minutes long and It's fascinating to where this data comes from and how it can help you Be a part of your plethora of the different things that you look at for your investment strategy And then after that we'll take a look at the sign indicator turning bullish. So just take a listen. Here we go Okay, so as promised, uh, I wanted to bring somebody in who could really dig down into the app Trueflation, which we've been using on this channel now for uh, about a month or so And I think it's important as we move forward. So stefan. Thanks for stopping by on the show and explaining all this stuff. I appreciate it Thank you. Thank you for having me here and and super happy to be on your show Yeah, man, this I mean this the website is very easy to use I think my grandma that could use it and just the interface is fantastic But we got to ask you some questions to know what the heck we're doing here. So first of all Four questions Who is stefan rust then we'll talk about how true flation can actually help us Then where's this data come from and what's the next step for this website and the platform you're building on? Which would be also laguna. So let's start with the basics stefan, who are you? Where'd you come from? Yeah, so I've been around for quite a bit. I've I've been a serial entrepreneur set up a lot of different types of businesses I actually got into bitcoin in about 2012 When I bought my first bitcoin because a developer on the other end of the world wanted to get paid in bitcoin I didn't know what it was looked it up And saw that there was a bitcoin j wallet and I had a career in java in my background And so I was familiar with that and then sort of dug deep into it I bought my first bitcoin on ebay using paypal before it was banned at $5 and Yeah That was I didn't think much of it to be honest I didn't I did not appreciate the value of what it could do until nine months later That same developer asked to be paid. Can you pay me now? You'd happen to be called. Yeah. Yeah, I have it And I noticed the price has gone up to $300. So wow, that was amazing Yeah, and at the same time then on skype I did an instantaneous transaction for free whilst doing a video call with the developer And so I was sold from then on in I had a developer agency at the time And so I just started building out a developer network of Companies and individuals that could be building on bitcoin at the time There was only one currency and so that's how I got into bitcoin was the CEO of bitcoin.com Working alongside me to some of the real ogs before I set up trueflation.com So it's not about what you know It's who you know if you know a lot of developers and the ogs in the space Now I know where where things are coming from that makes a lot of sense So talk to us about real quick before we get into how can trueflation help us? How'd you come up with the idea of trueflation? Why did you do it? So we saw governments printing a lot of money inflation was transitory I just could not believe that and I did not Yeah, I just could not believe that and that was basically the genesis behind it But rather than it actually being the genesis to leading to the product where we are today What we did is study Inflation and we figured out that it's a real old system that was put in place. It was built out before Um, you know, we had computers mobile phones internet, etc But more importantly it was done on a panel basis So you did not take a developer approach in terms of using census data across multiple sources Got millions of items and leveraging modern technology to do that And it was only when Balaji posted out there on 17.20 29 1729.com backslash inflation Where he launched a competition To anybody who could build a inflation dashboard. We'd studied it We knew where we would collect the data from we had the architectural designs that we had mapped out in terms of how we would do it And we thought we would make it available on the blockchain And so that was like a red rag to a bull. We then said let's build it And so four of us within a two month period went out and built trueflation, which we then launched I mean three months later pretty much at D central in miami in december last year which then Brought us into version two version three which you have now and you see on the dashboard live today Yeah, we already used it. I'm going to skip around because I think this is more relevant So when you talk about, you know, uh, trueflation and how it all got built I guess the next the next question should have been Where does the data come from and what's the next step for trueflation and we'll we'll get to how can trueflation help us So just real quickly talk about, you know, where does this data come from? So we source the data from all these different online sources and you can see on the website We try to disclose all the sources that we use for aggregating this data How we weight it our methodology We have basically about 30 different sources of data across 10 million items And each of those items has to have more than one source of pricing information And so we actually have at minimum 20 million sources of data That we pricing that we aggregate actually it's much more than that But we have 30 different sources of data from reputable brands That we aggregate and and put together in the outputs that we see in 12 different sub indexes Yeah, and I think that I think that's the big thing is we're talking about this, you know With fed reserve they're looking at these c-pad numbers and it's retro Let's take a look at what's happened before which is fine But I think as you know time goes on we're going to want to take a little bit forward thinking Which I guess will be the next question, but Before we get to that, what's the next step for trueflation? Yeah, so how do we get into so ultimately we do only cover the us market today And what we're trying to do is go into other markets. So how do we look at uk canada mexico? So we've got a cadence about four countries Per quarter that we want to announce and launch but more importantly We want to get into the ability to be predictive. We're already 30 times faster than the government reporting We update our numbers on a daily basis. So that means we're 30 times faster And if we go deeper into each of the categories, we can see what is influencing each of those categories And ultimately we then can aggregate pricing information From those influencers to see how they will likely Change the outcome of a price of transportation of the price of real estate or rent Or accommodation, etc. And so how do we then actually go into more predictive and into sort of future forecasting based on data that we can acquire Gotcha future forecasting people building on it. That might be the next step. I would guess And then ultimately how do we get people building on it? We had a chain link competition hackathon Where we rewarded developers to build on it. We had 40 companies build on truflation.com Ideas that were super creative all available and visible And now truflation.com by the way is available on four different blockchains bit of a sales pitch But that's that's what we have made available Well, it's it's a pretty great sales pitch because also the data is for free right now That's what i'm using all the time. I'm the paying you a red cent So that's great So so step and that would lead me to the next one like we just we I briefly touched on it So the fed reserve is looking retroactively They're going to talk about a soft landing probably not going to happen So the real question is is then how can truflation help us moving forward? So I don't know how it can help us but what it can do is help identify where new products and pricing is going to change. What do I need to do in order to identify, you know Where and how to react what to do Um It's it's how is it going to help us individually? I think the data itself allows us to do computation That will impact us right is now the best time to buy a new car Or will it be a better time in six months time when prices come down? So you can see prices have already come down in the transportation Which is a reflection of your secondhand car market having come down significantly with a lot of oversupply As people go back to work and they're using their cars again. They're also using public transportation They don't need three or four cars or they don't you know, so That has sort of settled out a bit Gotcha, so I can see that I'll be using this pretty much uh every day Just to take a look at what's going on That's why we make it available and we want to then be able to allow you to go even deeper Right, so if you look at transportation, you scroll down a bit You can then see what how heavy Transportation is as a part of The household expenditure. It's about 19 percent people spend on transportation And then you can see what the categories are How can you then click into one of those categories and then see what that what's the constitution of that? So vehicle purchases net outlay other what what is in the vehicle purchases is their first hand second hand car And and what is public transportation? What are people spending? On transportation. How has the price changed in public transportation? What types of public transportation, etc? crazy all right, so that's Important to know I think for everybody so that would mean my next one because you've got true flation But when we were talking behind the scenes you've mentioned laguna and I don't know what that is Talk to us real quick about that and what's coming down the pipe So laguna basically and simple is is a You know, we're trying to bring commerce Global commerce to the web or to web three, right? I mean, that's really what we're trying to do How do we do that? And what we're trying to do is on the laguna blockchain We're trying to take out fees and friction in transactions And the way we're doing that is a couple of things, right? We've identified that Fees need to be below five cents in order for peer-to-peer transactions and commerce transactions to happen That would be nice You and ultimately friction We need to take away the fact that in order to do a transaction on any of the blockchains You need the native token in order to do that the native utility token in order to fund the transaction How do we move away from that that you don't need that? Those are some simple examples of how we do that you'll find out more on our website Yeah, and then just before we take off. I think this is a big A big thing story because we were talking behind the scenes about like me as an as an online e-commerce provider It's going to be either 1.99 plus 30 cents or 2.99 plus 30 cents per transaction So take that globally and we took a look at the the different software that's available in india And it's even much higher than that which is to me quite insane So if we can drop that below a nickel, that's great The problem is if we're using stable coins and things like that which is built on a lot of the times Well erc 20 or uh polygon or different or binance smart chain or tron So if you do all those things now and I here's here's a part with the friction and moving things across We can do it cheaply on other chains, but sometimes a user may say well I'm on erc 20 and I want to transfer another chain and then it's gone So if we can do something like this and knock that down to because we all know The gas fees are astronomical, but take those from five six seven or twenty dollars at the height And knock it down to a nickel because we're using these different chains That would be just like how it was in the old days when the cell phones came out and I said, hey Do you have AT&T like a Verizon? So it's a little bit different now. No one thinks about it. No one even it doesn't matter because that's where we have to go And that's really what we'll bring about global commerce and Will hopefully recover and take us out of this negative economy, right and recession that we're likely to enter into This is the time for building. We're going to be building We have a very clear vision of what we want to do. How do we make a lot of this possible? Yeah, excellent Well, man, stefan, you've said a lot. I will say I want to say first of all, thanks for stopping by everybody Of course, you can find uh app.trueflation.com in the link in the description use it at your leisure I'll be talking about it a lot, especially as the c-pad numbers come out and that is it stefan Thanks so much for stopping by Thank you, dan. Thank you for the audience for listening and taking the time out to hear what I have to say Excellent. All right, everybody. Let's jump back Indicators simon you thanks so much for being the uh the simon indicator. What he says here is this Uh bitcoin Did pretty well with the macro environment Uh looked out that tens of billions being liquidated large hacks macro history, but it still holds at 20k And again, like i'm not very bullish on this channel I'm a little bearish, but these things give me a little bit of hope and then when we talk about Then someone asked him. Hey, weren't you just bearish a little bit ago? He says, yeah, because but when when the facts change, I change Two main things c-pad comes out. It's okay And then of course celsius has been dumping hundreds of millions in crypto But the market has been absorbing it pretty well despite the vast amount. So there it is so look I hate when I you meet myself and go from there, but that's all right So that's it in nutshell. That was a long video today and you guys stuck with me Thanks 40 minutes, and I still got almost 1500 people. So thanks everybody. I do appreciate it If you want to stick around we're going to do a quick q&a session I'll answer all your burning questions the best of my abilities and then we will go from there So let's jump in Let me get rid of this banner we don't need this All right Tommy V shout out to the beautiful people in the Dan fam. Hello everybody Toaster says I'm still holding my crypto and not planning on selling it sounds good But with everything happening this feels like the first steps towards the end of crypto This is how it always feels in bear markets Everybody's euphoric and bullishness like it'll never go down And then of course it goes down and then of course people will always it's always a different narrative, right? In 2017 2018 it was all about this is the future and this is what's gonna happen It's gonna be awesome But then we realized that we were nowhere near that and no one's actually really building the rails So it just collapsed and then this next one in 2021 people always tell me rob you don't understand There's so many institutions like micro strategy and the like and even El Salvador Bitcoin will never go down from now on because there's just too many things to buoy it up And i'm like just wait and here we are so Again that never changes And then of course even though you think that bear markets will last forever. They don't They're like the rain in portorico. You don't like it. Just wait a little bit. It'll change Hello battle rap Even sandbag and free believes most companies is Ponzi. I saw that one Where he was talking about it. And I think it's true. I think in some of these I think everything's a Ponzi until it becomes stable Let me introduce you to the american Social security system Let me introduce you to pensions the same thing Like you have to to actually get things going you have to actually bring more money in or else everything collapses That's just the truth Let's see Twisted says rob shills but doesn't run pool like other pumps and dumps Yeah, I got to get away from that that term. I think because shill has a negative connotation And we're right rightfully slow rightfully show but I am an aggressive promoter of the projects that I invest into and believe in That's what I should be saying But I didn't any good point twisted Uh ysk Uh, someone made a good point in twitter showing how commodities have come down quite a bit since all time high this past year Yeah, I think even ben talks about about into the cryptiverse and he talks about how beforehand commodities would always drop down And then kind of rebound as we start to rebound out of the uh recession, which I believe we're in right now So buckle up. There's gonna be a lot of a lot of that going on Uh bombs away says you guys are fools to trust any unregulated exchanges. Good. Uh, he's Not wrong Ben Cole rob. Don't you promote celcius? Yes. I used to promote celcius I also used to go to blockbuster. I also used to use a real typewriter to type my papers When I had to put them out But uh as time goes on I realized that one are just completely useless and one Uh, didn't tell me all the things they were doing behind the scenes. So I don't talk about them anymore And uh, that was why on june 12th I put up that video saying to Take all your money off celcius and I did the same thing on june 22nd with voyager. So I'll then answer your question The herd is following gear the solid way dude. I remember