 Welcome to the last set news like a top stories in crypto and bring around a bite-sized pieces. So today just as a thumbnail suggests, we're going to take a look at the Twitter and Bitcoin integration, how big I think that potentially could be. I was going to take a look at a friend of the show, Gary Ginsler, SEC chair, as he calls crypto and stablecoins the Wild Wild West. And then lastly, we'll take a look at Evergrande update and how it's affecting traditional and our markets. So that is what's going on for this one. But let's just take a look what's going on in the market in general. So as you know, we had a little bit of a dip today and that's all because of thanks to China as they come out and say that, hey, we're going to ban crypto yet again. And of course, people who are uninitiated did a little panic selling and our market cap right now is 1.85 trillion. There is no really good reason for this. It's just that people heard some news, panic sold and off they go. To me, I think this is like a golden opportunity because it allowed me to dollar cost average yet again for some very cheap crypto. So Bitcoin price 41.4, the sentiment, you know, the sentiment even though that the China news came in, we've got some pretty smart people in the markets. They realize this is just fud and really has no bearing on the overall market. The fundamentals have not changed, but a lot of people are scared because they're new to crypto. Anyhow, Bitcoin 41.3, Ethereum 28, Cardano up a whopping 2% in the last hour. Watch out. And everything else is pretty much in the red as we can see. Man, what is this? Filecoin down 30%. Crazy. That's a definite pickup. I think Ethereum dropped 8% and Avalanche dropped 8% as well. Actually, it was down much more and I actually picked those two up today. So that's what's going on the market. Again, we're using trade the chain. Here, you know what? This would be a great opportunity. I'm going to click on the projected range. Just so you know, trade the chain, links in the description look something like this. And you can see the exact same things that I see. So it scrapes all the interwebs, it scrapes all the blog posts that has a direct API integration into Twitter, so to disseminate all that sentiment analysis. So here's what I would look at. Travala.com. I have no idea what these are. Acropolis, REN, ION, Injective Protocol, Gala and Balanced. Maybe even a Waze in Swissburg. Swissburg is making some pretty big moves. So take a look at those. In the next hour, it looks like they're all going to go up pretty substantially. But again, do your own research. All right. So let's get into today's top story, which was Bitcoin and Twitter. And actually, I wanted to do this yesterday, but I got a little sidetracked and some things came up. So one thing I will say though, before I get into this story is this. And that is that no matter what the market does, you just kind of take a look at it with a grain of salt and just kind of say, okay, I think I've been here for quite some time. And remember that people look at things as either the thing, the glass is half full or half empty, but just remember the glass is refillable. And in all honesty, that's kind of like the crypto market. It goes up, it goes down, but in general, this is going to change everything. So you just kind of stick around, things should work out okay. Even the wolf of All Streets came out and said, hey, you know what? I'm going to write a book and it's going to just say this, buy and hold. And he said, that's pretty much the whole book. I'm just going to be one page, three words. And I said, that's a pretty good idea. Anyhow, think about this. And then also before I get into the Bitcoin, Twitter thing, a couple of days ago, we did a story about the PyCycle top indicator and people were, they were kind of freaking out because when I said this, I said, you know, in this year, we've already seen the top as far as like, when was this? In March or end of March early April. And it switched over, which was one of the four indicators of when things dropped down. And it's been pretty accurate. But I just want to mind everything, everybody of this. And that is that just because it happened in this year, 2021 doesn't mean it can't happen again. It happened twice in 2013, one time in March and one time in December. So if you think that it can't happen again, just look to history, not that it's going to happen, but sometimes we can just take a look, look a little bit of history and see what's going on for the future. All right. So here is our top story. And this was, this actually kind of blew my mind that this is actually going on. And this is from Jack Mahler's strike API. He's the one as far as like integrated, worked with El Salvador to allow for the lighting network to actually be used over there to make Bitcoin an actual currency, an actual cryptocurrency for next to nothing. And I'm just going to watch the video. This will explain it pretty thoroughly without me talking. Listen to this. Yo, we're here in Chicago. And we've got David here and Starbucks in El Salvador. David has a strike account linked to his Twitter account. And we're going to make a free instant cash final remittance payment over Twitter. So I'm going to go search David's Twitter account on my phone. I'm going to find his tips button. And I'm going to send David $10 over Twitter for changing the world. It's going to open my non custodial lightning moon wallet. Anyone in the world can download. And I'm just going to hit send and boom. We just made an instant free remittance payment from Chicago, Illinois, USA to San Salvador, El Salvador over Twitter. Why would anyone ever use Western Union again when you take one of the world's largest social internet networks and you combine it with the world's best open monetary network, Twitter accidentally becomes one of the best remitting experiences in the world. This one singular payment standard and this one singular open monetary global monetary network is dematerializing all existing monetary networks. Western Union, pawn to E4, your move. Yeah, I mean, pretty crazy. I mean, look at that. This is one of those news that should have pushed everything up. But of course, because with China coming out with everything they're saying they're banning Bitcoin again, didn't really do much of the price actually dropped everything, which is amazing that an old news story would do that. So this again makes me stand corrected. I never thought Bitcoin would be used as a cryptocurrency again. But because of what Jack has done here and then of course in El Salvador, it's being used as a currency and it's pretty much next to nothing. So again, why would you use a Western Union? Why would you use any kind of service like that? Because that's like 20, 30, 70 bucks, depending on where you're sending it to. If you could do this for free all the way around the world, why wouldn't you do it? And then the next question people will say is like, well, not well, Rob, not everybody's got smartphones, especially in third world countries. I will direct you to this. First of all, how many third world countries have you been to? Are developing countries have you been to? I can tell you right now, living El Paso, going over to Mexico multiple times, going deep into Mexico, everybody's got a cell phone, a smartphone or what we want to call it, they have internet service, everybody. And that's in like the poorest of towns in Juarez, Mexico, everybody's got one. And there is this is from Brookings.edu. And they talked about how overall, they did sort of a survey, just a data analysis, overall in developing countries, 86% of men and 79% of women have a mobile phone. If you take a look at this, this is mobile phone ownership around the world. This is in 2018, I guarantee this is higher than right now. So the darker the blue, the more people actually have it. And you can see North America, obviously, I mean, the the US, the Canada, Alaska, Central America, pretty good. And then South America, sure, Africa, Australia, obviously, China, India, all these places are not in Greenland. So whatever. And that is pretty much the story. So if you don't think that, oh, well, nobody has phones, that's not the truth. The truth is everybody's got phones and everybody can use this, even if they don't have the greatest functionality of like the latest iPhone, they still have phones, whether they be flip phones or whatever else. Just take a look at Africa and the, was it PESA? Mobile phone service and payment system. So that is just one thing. Let me know what you think about that in the comment section. Let's move on to our next piece where we talk about Gary Gensler and what's going on with him. So this is Charles Gasparino. He is a commentator over a Fox business, and he's been on great job of really covering the story well. And it's been on Fox News many a time. So our Fox business network. And he says, as I've said, Gary Gensler won't back down and squeeze in the crypto until Congress or the courts forced him to. SEC is Gensler called stablecoins poker chips. What is he talking about? This is what he's talking about. So this was a story over a coin dex, twin desk SEC Gensler called stablecoins poker chips. And there was an interview between him and the Washington Post. And he says, well, what was said here is the SEC is currently putting together a report about stablecoins under the guidance of Treasury Secretary Janet Yellen. He also said the SEC is working with banking regulators in order to get expanded authority from Congress to regulate stablecoins. He says, we've got a lot of casinos here in the wild west and the poker chip is the stablecoins. And it was kind of weird. I'm like, why does he say that? He says, well, here's what he says. Those platforms should come in and they should figure out how to register. Not many have. And so I do really fear that we'll keep bringing these enforcement cases, but there's going to be a problem. And frankly, when that happens, I think a lot of people are going to get hurt. So there's a lot to unpack there. First of all, why would Gary say that these are the poker chips? Well, really, it's kind of like your gateway to get into cryptocurrency. And then when people take profits from their other cryptos, well, guess what? They put it into a stablecoin usually tether for some reason. I don't like tether myself or USDC or whatever else. And he's just saying like, look, this is kind of like their gateway. So there is that part. And then when he talks about here is like people should come in, well, guess what? Coinbase came in. And what did you do? You send them a well's notice and threaten to sue them and they shut down their lend application. After that, nobody's going to trust you. Why would you do that? Why would you do that? And then say, oh, they haven't come in? Well, of course not. If I'm going to get sued, I'm not going to come there. It's crazy. And then on top of that, you have to kind of think about this. The question is then, is why is Gary so adamant about putting in regulation and enforcing and trying to protect the individuals? And I think it really comes down to this, like I always look at this. This is one of my downfalls. I always see it as people think like me. People don't think like me. I mean, not everybody, especially as a crypto investor. You have to understand the mindset for Gary as he's coming into this job. And this really comes down to, let me blow this up. Why the SEC failed? Regulators against regulation. Gary used to work in Goldman Sachs. He was a CFTC commissioner, I believe. I worked in the CFTC. I know that. He's been on Capitol Hill. Now he's the head of the SEC. This guy's a classic overachiever. Let's just be honest. And what he doesn't want to do is come back for people to say, hey, you suck or you're awful, do your job. And I think this is the problem here. It was people don't understand that the SEC for a while massively screwed up and they didn't protect people. And two of the SEC's most notorious failures came into light in 2008. The demise of several of the largest investment banking firms under its regulatory care and the SEC's disregard of the Ponzi scheme that was Bernie Madoff's 50 billion Ponzi scheme. The main reason for the decline of the SEC is that the commission succumbed to the anti-regulatory climate of recent years. Too many of its members just did not believe in regulation. I think that's the thing is that I think Gary and his crew are like, hey, we need to put the hammer down. We need to make sure because we don't want to be like that. Those last group of losers who didn't do their job right. And then of course, everybody talks about how awful they were. They missed this, this, and this. So as a person, as a person likes to achieve myself, I can respect that. I can. It's not going to be a very popular opinion here on this channel, but it is what it is. However, the thing with Gary, I think, is that he said it perfectly. He goes, and this was in the hearing, the Senate hearing on banking. He said, look, with the laws that we have in place right now, and the way that the Howie test is written, and the Reeves test, Reeves litmus test, these are securities. Now, if you guys come out and say, hey, we're going to write some more laws and regulations, I'll work within those, those confinements of those laws and regulations that you write. But until then, this is what it states. This is what I believe it is. This is where we're going to go. And I think there's two ways that this can go about. Either first of all, if you're in the cryptocurrency space, digital asset space, and you're in exchange, you need to go on the offensive. You can't wait to be sued. You just have to bring the battle to them because that's just how it is. And even Mark Cuban talks about that. And fun fact, Mark Cuban actually beat the pants off the SEC when they sued him for insider trading in 2013. So if you think that the SEC can't lose, they can, and it's been done before. So we have that, that part. Also, Hester Pierce said, also this crypto mom, she said, hey, let's just give everybody a refractory period or grandfather everybody in. So if they've done this, if they're selling unregistered securities, instead of finding the exchanges and finding the projects, let's just give them a grandfathered in, just say, okay, everybody come forth, we're not going to bust you, we're not going to sue you, just come on in and we're going to determine, we're going to triage you. We're going to say, what is a security? What is, and of course, that'll be on the SEC. What is a commodity? That'll be on the CFTC. And of course, what is a currency? And that'll be the office or OCC. And then we can figure that out. And then we can go out that way. And then we're going to affect too many people. It just been like picking up a stock. It's a security, it's a commodity, or it's a currency. And there is those really three options, in my opinion. I don't think we should be sitting on our heels just waiting for it. But I think this is where things are going. And we will see what happens. Let me know what you think about that in the comment section. I understand where Gary is coming from. I think he's wrong. I think there should be a little bit more back and forth between this happens. But so who knows. Anyhow, let's move on to our last piece, where we're going to talk about a little update as far as Evergrande. So Evergrande, we've been talking about this at length. Everybody's scared about it or was scared about it. It was a company in China who did a lot with real estates, retail and home and all that stuff. And there was a big thing because they were going to default on their loans. And it was a $300 billion collapse. And everybody was scared about it. And the one person that said that, who cares? China's just going to print some more money. It was George over CryptoZRS when it was me, him, and James over Invest Answers. And even Simon, you, from StormX, he says, I called it. And I think he said the same thing. China injects $18 billion in the banking system during the Evergrande crisis. So here's what's going on. And before I tell you, this is a great quote from Peter Lynch. I always think about this. Far more money has been lost by investors preparing for corrections or trying to anticipate there's been a loss in corrections themselves. So again, people were freaking out. And they sold everything. And then it wasn't that the end all be all as far as the traditional markets. So this is what's happened. China injects $18 billion in the banking system. And the People's Bank of China pumped $120 billion yuan or $18.6 billion, resulting in an injection of $90 billion yuan because they did for the reverse purchase agreements. Sentiment was also boost after Evergrande's onshore property unit. So it plans to repay interest due Thursday on its local bond. So all that, it was much ado about nothing as they say. So I just want to bring that to everybody's attention. Everybody's worried about the Evergrande situation. Not so much. I think the bigger thing that we actually have to fight is FUD articles and people not doing their own research and panic selling and over leveraged traders who have no idea what they're doing. I think those are the big three things that are going on. Anyhow, that is it. So if you made it all the way to the end, first of all, thanks. I appreciate it. If you like this video, go ahead and give it a thumbs up. Also consider subscribing. We talk about these things every single day. And that is it for today. So thanks so much for watching. I appreciate it. See you on the next one.