 of you, if you can hold my call. We'll see. Hey everybody, welcome to DCA live. And today, because of inflation is so high, we couldn't afford Brent Ben to come on. So thankfully, James came on with me from our best answers. That is just sarcasm. But we're just here today to answer some questions, talk to you all, and then kind of figure out exactly what's going on throughout this whole mess that is the crypto space. So James, once again, thanks for coming on, man. Thank you, captain. And Ben is still enjoying his vacation. I know there's some people suffering from into the cryptoverse withdrawal symptoms right now, but he'll be back soon. He'll be back. If you're part of his website, he sends out these different posts. So it's funny because he'll show himself like, see, I'm still on vacation. He's on this black couch. But he always talks about, oh, hey, this is vacation. So that's what it is. People need a break. I think everybody does. So let's get into it. James, we have a lot of stuff to go over, a lot of questions, especially what's going on. So first of all, there's a bunch of questions. Is this a relief rally? And what's your areas of resistance and support? You're really good at these types of things being a trader. So if you are a trader, you are in luck today. Then we'll talk about the macro events to consider. And then we're going to talk about what the heck happened to wallet number three. Looks like it moved everything, but potentially it opened up shop in another wallet, which we'll talk about a bit. And then we'll talk about how the SEC just labeled nine cryptos as securities. And the CFTC came out and said, hey, you're doing regulation by enforcement. So the question is, what does that lead up to moving forward? And then we'll get in some good stuff, which is, have you deployed your cash or are you waiting? We'll talk about the ETH merger. Is this going to make this be a game changer? Or is it really just another shot in the dark? And then we'll last two things. Talk about Pelosi and her hub hubby being amazing traders, I think better than anybody else in the world. And do you think this is good? Are all politicians corrupt? Newsflash, they are. And then lastly, we'll talk about BlackRock as they just lost $1.7 trillion of clients money. So if you think it's just for crypto, don't worry, we're in good company. Even BlackRock gets it wrong. So my man, what do we got today? Let's take a look at the markets so we can give this for point of reference. Look at this. This is pretty good. I mean, 24 hours, we haven't, I feel like this market's resilient, especially with the CPI numbers. And of course, the Fed coming up 26 and 27th meeting and release those interest rate hikes or not. And Bitcoin's holding strong, 22, nine, almost 23. We're at 24, but what are you going to do? Ethereum hanging tough, 1567, Tether, people getting out as that goes down a little bit and BNB and so on and so forth. There is one thing that I found interesting was LitoStakeDeath, 1536, and Ethereum 1567, just hoping it can save that peg. But here's the question, man. Is this a relief rally? Is this a bear market rally? And is this going to be maintained? We're just going to chop sideways, or do you see some more volatility going down on the horizon? Interesting one. So obviously, we've been through hell and back, and we can talk about that a little bit later. But in terms of your specific question, relief rally areas of support. So the big one for me over the last week or so, 10 days, I watched the funding rates a lot. I watched the options a lot. I watched where the big money is placing their bets over a different time series. And the funding rate recovered on exchanges. It was very negative, which means the bears were placing heavy bets and paying extra to short the markets. That's all gone away right now. We're now neutral, which is good, which means the shorts are gone, which means, okay, nobody is jumping in front of this freight train right now. Second of all, fear and greed came out of extreme fear. Good thing. Third, we broke through that psychological critical 200-week moving average I've been talking about now for many weeks. And we're now playing magnable with it. So we can dip beneath it and then jump above it. You know, it's kind of like a very, very confluent area of support right now. And it's okay to go a couple of hundred bucks beneath it. We don't want to get back down to 22K. And then we also have a new event is we have our first fresh monthly green candle. Wow. No kidding. Really? 2022. So it's nice to see that, you know, little, just a tiny little perk up right now. That's right. We'll take anything we can get right now. And so in terms of where I see support and resistance, support is at a magnable level of 23K. If another shoe drops, and I think all the bad crap is behind us, like even just talking about bad crap for a second, we had, I did a video, I don't remember when, but I remember the content. I think it was somebody asked me a question. What would make you change your investment thesis on Bitcoin? And my bullet number seven was Tesla selling Bitcoin. Bullet number one was Sailor selling it, and a whole bunch of other stuff in between. But they sold for specific reasons, not because they don't believe in Bitcoin, but because they were scared stiff of continued C19 lockdowns in China. Yeah. And they needed, they also needed to pad their earnings a little bit and shore up a very negative free cash flow number on their statements. So from that perspective, we weathered that storm really well. That was a $600 hit, which I thought would have been a lot more, which tells me, wow, this is a strong beast. So in terms of where we go next, first of all, the next level of resistance I see is 25K, after that is exactly 28.5. Now, the interesting thing is if we get to 28K, 28.5, all of those waiting for the $12,000 Bitcoin are going to get really nervous and they're going to foam away. Yeah, that would be an interesting, every interesting piece. If we hit 28K and the people who, you know, they're like, well, I don't know, because it seems like, it seems like these days, I don't know how it is on your channel. I think it's the same way. I think all the tourists are gone. And like the people that come to the channel, like I really like everybody who comes in now. Like during the bull run, I got to tell you, some days I didn't want to make a video because I'm like, ugh, I got to deal with these people who are the Dogecoin millionaires and telling me that this is the next big thing. And it's just annoying. Now it seems like when we get these big hits, like I thought just like you, when Tesla sold, I'm like, oh, okay, well, it's going to go down. It's going to make me go below 20. I'm going to just pick them some up. It didn't. CPI numbers come out. They were higher than what everybody thought it was going to be. It didn't. And it's been super resilient, which makes me, and I haven't been the most bullish on my channel, we can say, but it shows me some hope and some resiliency moving forward. So yeah, I can definitely, I can get behind that. I don't know if we're going to go to 28, 30, 32K. But I mean, who knows? I mean, we'll see. But yeah, if Michael Saylor sold, that's a pretty big thing. But I mean, what's his stay-even price? I think it's, we're down like 4K, 5K or something like that. For one of the loans, yeah, 250 million dollar loans, $3,800 liquidation price. And that was just fun that the media just clung onto and scared the hell out of everybody. So they do have a earnings report coming up in a couple of weeks. And that's going to have a huge impairment charge on it. Tesla actually, I think part of the reason Tesla also sold out is, it's like they had a stop-loss. They said, okay, if we start getting close to 29K, we got to bounce. And we need to raise some cash. And we don't want to take a huge impairment charge. So it was like, everything kind of forced their CFO and Elon to make that decision. And it wasn't because of Bitcoin. And it was a very well-timed sell as well. Yeah. And I know people are pretty angry, you know, because they say, well, you shouldn't sell, but you got to remember, guys, I'm like, well, we talked about this. I mean, they don't owe us anything. They're a business. And who they owe it to is the shareholders. And when people say they'll never sell, I'm like, are we in the same reality? Of course, they're going to sell because they have a duty to their shareholders to hang on. And of course, I watched your video, James, and you put it, you know, very, very mildly, but accurately said, look, these, these gigafactories, they are, they are burning cash. And for Germany and Austin and everything to get back up, that's a lot of money to get. And if they didn't sell, I think they would have been in the hole a little bit to actually get that positive cash flow. So, okay, I can, we can see that risen support. I guess that would lead us to the next one. What are some macro events to consider? Because, I mean, we can take a look at the charts, we can see this is very nice and the TA and so like that. I don't do that that much. Everybody knows that. What are you looking as far as like macro events to really get a little bit more bullish or bearish in the background? Well, I've been talking about a pivot by September, October for months now. And it's kind of comforting to see other people are beginning to take on that narrative. I did say, you know, if they do a hundred point hike, hundred basis point hike on the, what is it, the 27th of July, I think? Yeah. And that'll kick us into financial Armageddon. They know they have the fingers on the tabs of exactly how much demand destruction has happened, how much things are slowing down right now, et cetera. So 75 basis points now, I think there's an 80% chance of that happening. And the key part is forget the 75 basis points. I do think they will do 75. And then they'll talk dovish. Because remember, there's no meeting in August. So they got to bridge the gap to September and markets don't like uncertainty. So I think JP will kind of telegraph his game plan like he normally does and give the market some comfort. And then we could start really rallying hard. And remember, you know, people that are waiting, they think about, oh, 28,000 Bitcoin is impossible. But to go from 23 to 28 is a very small step for Bitcoin. And that can happen in a couple of days if the Fed pivots dovish. Many people, including myself, believe that the first asset, the first risk on asset to bounce will be Bitcoin. And then risk on tech stocks next after that. Yeah. Well, I mean, we could go from 22 to 28. And that's a heartbeat away. But just remember, below 20 is a heartbeat away too. And I think that's the bigger thing. I know you think we're going to go to 75 points. I would personally, I know you talk about, well, for every so many points that go up, our percentage points that go up, we're taken away from the GDP. And of course, there's a huge slowdown. And I get that. But America, Social Security will borrow from that all day long. We're just like, you know what, we'll see how it goes. But remember, I mean, I just, I look at and I go, I think Powell wants to invoke Volcker. And when that comes about, he's like, I don't want to be the person before Volcker, which is Burns. He's like, I don't want to be that guy. So I got to be aggressive. But the big question though is, will he actually look at the CPI numbers? Or will we look at numbers like, like, you know, the inflation numbers that we have right now? Yeah, kick that to you a while back and look at how much it's gone down. Because I know you've been tracking it. That was 11.6 a couple of days ago. Now it's 10. All right. So this is actually key to look at. Look at the price of oil. I always say oil is the other key one to look at. Oil is now 95, 96. And that's come down. And it's probably not going to peak back above because we're beyond, for example, US peak driving season. The Dixie, the dollar index has come down as well. Everything is going in the direction we need it to go. So from that perspective, there's also another angle too, because you were talking about macro events to consider. The biggest joke is QT. So if anybody wants to see what QT looks like, and they're in it and they've been in it now for six weeks or something, eight weeks. But if you can pull up the Fed balance sheet, and you can see how hard it is for them to reduce the balance sheet, it actually grew by nine billion in the last week. So they're not the QT of pulling whatever 60, 90 billion out every month. It's proving very hard to do. But that's what they're tasked to do with. I mean, that's what they did. You print that much money, you take things out, ETFs and stuff, you have to retract that at some point. We'll see. But there is, so everybody sitting there, now we know that inflation is going out a little bit. This is true inflation. We've talked about the channel for quite some time, 30 data points, uses chain link as an oracle to pull outside data. It's great. It's free, link in the description, all that stuff. But this just came out about nine hours ago or so. We know the war is not going to grind on any time, but this is, I thought, was a pretty big thing. Ukraine and Russia agree to export grain ending a standoff that threatened food supply. And that's, I think, a step, a huge step in the right direction. I'll link this in the description, but if you used to a search, you can find this type of thing. And this has been going on for quite some time. I think Ukraine exports, I want to say 30% of the world's grain or something like that. At least 60% of Russia. And of course, they don't want to starve. And of course, so they just open up that, I think is good news in that way. I think the inflation is a good news. Shutting the grain supply off means whoever does that will have the blood on the hands of 10 to 100 million people who would die of famine and starvation. Exactly. Simple calculus behind that. So they have to do that. They've got to do that. There is a thing that it concerns me. And it's, we're going to talk about this real estate. And this is from realtor.com. And you can just, I need to link this in actually. It's, if you go realtor.com forward slash research, you'll find it. And this is from June. And there's a couple of things that are positive, but there's some things that concern me. So like, first of all, in this yellow, this is 2022 active listing count. So remember supply and demand, right? So if we have a lot of supply, and we still have the demand, that's great. But if we start to outstrip that demand, then of course prices have to tumble. So even though look at this, I mean, you can take a look back 2017, 18, 19, 20, there was a lot of active listing counts. Because back then, I don't think it was as pricey. But you can see here from January, there was a drop down February and March, there wasn't that much of supply active listings. But then as time has gone on, this is just in June, I don't know what it's going to be in July. But you can see the pending listing going down a little bit. Newly listed homes going up quite a mark. But the thing that really concerns me, whoops, I think I passed it. Price reduced share. The actual price, yeah, this is it. The price of a house. And James, we talked about this at length, $450,000. I don't know where you're at for you watching that are watching the video, but that's the average house price single family home, 450K. And with the interest rates going up, I think they went from 5.7 down to 5.5%. People can't afford that. And if you got a lot of those houses as far as inventory, what can the builders do? Well, they're going to have to start dropping the prices if the demand drops out. So that's one of those things that's concerning. What do you think, buddy? Yeah, but because of the increase in mortgage rates, I calculated backwards, there will be a 20% haircut price. All of the gains from 2021 will be wiped off the slate. Case shiller index. So if you do have that, say, $500,000 home, it'll be $400,000 within three to six months. That's just a simple calculus until rates come down. Then it'll flip it out again. So that all comes down to the Fed and your buddy, Jay Powell, see if we can do it. All right. So I would just say, this is not financial advice, but if you're looking to buy a home, just wait, it might come down a little bit. So these are all the factors to take a look at. And let's switch gears a little bit. Wall number three. This was a pretty good one. So wall number three, I think we all talk about it. Ben's the first one to introduce that to me. And it was a pretty fun thing to follow. And it started all the way down here. My favorite part about this one is how they dial the cost average $3 and $20 in the very beginning. And then they said, okay, this works. Let's turn this big it on. And then they bought $1,000 Bitcoin at $3,600. Another $1,000 at $3,600. And this was back all the way back in 2019. And over the time, we could kind of see where things were going. And just because that there is a negative number, it doesn't mean that selling per se just means that it's moving. And as we go to the very top today, as of yesterday, they drained that account. They drained that entire account. Now the value of the account itself is $229. So this was an interesting concept. Simon U is going to be on the show later today. And he talked about a Bitcoin whale transferred out billions of Bitcoin and went empty wallet to zero. And then there was a question from somebody, Joe, this is like an exchange shuffling cold wallets. And Kiyong Ju came out, who's from CryptoQuant, the CEO and said, yeah, it was an internal transfer. And it looks like this is where it went to. James shed some light on this. Whose wallet is this? Is it Nancy's? Did somebody else's? I think it's Coinbase. Yeah. Yeah. So I've been tracking this as well. I think Ben started talking about this back in summer 2021. So I started saving, I've got a, in my folder, I've got think old wallets, and I've got all my favorite wallets linked that I track, movements, you know, Huobi, Bitfinex, Binance, all these guys. So I can see what they're doing to get a feel. And I've been watching this one for a long time because people originally thought wallet number three was my strategy, but no, clearly not. Then people thought it was the cold wallet of Binance or Bitfinex or OKX. Nope, it wasn't made of that. But then, because what they were doing for the longest time, and I've done two videos on this, people thought they were selling, but no, they were just transferring what I call the P5 wallet into the FZ wallet. FZ was recently labeled Coinbase. And then during this big liquidation, because I think what they were doing is either using those coins to cash carry spot trade markets, manipulate markets, frighten market, spook markets. I don't know what, but it was so obvious what they were doing. They were trying to take a bunch of Bitcoin, dump it in the market, pull it back off, move it around from different wallets. Even just moving from different wallets scared people say, oh, wallet number three is selling, that's bearish. It's like, no, no, no, they're just transferring it like they always do back and forth between another wallet. But then they added a third tier. And it's what I call the LQ wallet. And the LQ wallet is now wallet number three, which has about 132,000 Bitcoin on it. So it's just like, it's like I was a member living in New York, and that have the guys in the street without this game, whether to hide the ball under the tree. Yeah, yeah, that's exactly what they're doing. That's all. So yeah, you know, but it is important to monitor what they're doing. And I have a funny feeling it's Coinbase. Yeah, so I link this in the description so you guys can track this new wallet. We'll call this wallet number three, Deuce. And it's just something to pay attention to. But again, remember, just because that it gets transferred out of the wallet doesn't mean it's exactly a sell. We don't know exactly what's going on. And that's why we, well, some of us take a look at charts. All right, so that's what happened with wallet number three. Nobody freaked out. Nobody sold billions of dollars yet. Let's get to that one. The SEC. The SEC, well, first of all, this all comes on the Coinbase. Coinbase, there was an incident where it was the SEC versus Wahee. And the SEC brought charges against this person and his brother and a couple of the people for insider trading, as far as them doing things after the listing of certain cryptos on Coinbase. And by doing so, within the document, they also lists nine cryptos. I guess these are the ones that were being that were being listed. And they said, look, you guys were insider trading for securities, which is kind of odd because there's no regulatory stance on this to my knowledge. And this is what happened. So they said, hey, we're going to charge this Wahee and his brothers. And the assets that they labeled in the document were this amp, rally, ddx, xyr, gtlcx, power, dfx, and crom. And the one that's probably the highest one I think was amp, that's ranked number 72, I want to say. I want to say power is ranked like 228. So this is what the SEC did. But remember the SEC's job is to enforce the law, not to write the law. And this just was a statement that came out, I want to say yesterday from the CFTC. They said, look, the case, the SEC versus Wahee is a striking example of regulation by enforcement. The SEC complains, complaint ledges at dozens of digital assets, including those that could be described as utility tokens, not security tokens, utility tokens, and or certain tokens waiting to decentralize autonomous organizations are in fact securities. The SEC's allegations could have broad implications because this single case underscoring how critical and urgent it is that regulators work together. So James, what does this mean in a landscape of what is going on as far as regulation? Do you think this is a positive move in the right direction? Or is this just another negative spot for SEC overstepping bounds? Well, I won't claim to have read all the legal documents behind this filing or case. But it's just another example of all the shadiness that exists within the cryptiverse, which is very scary, even within the walls of supposedly reputable firms like Coinbase. They should have had internal measures in place, as many other companies should have had to prevent this type of stuff from happening. But it was very clear that you always got the Coinbase pump or the Binance Listing pump whenever new tokens were issued. But the key thing, this is first of all, it's dubbed as the first crypto insider trading tipping scheme, which is good because this is a shot across the banner to anybody contemplating this. SEC is watching and you will be caught. Truth will surface eventually over time. And in terms of the nine tokens called securities, we all know that everything other than Bitcoin and Ethereum is a security. So it's also a warning shot on that regard as well. So it's no surprise. Yeah, I think it's no good. Sorry. That's it. So deep on that topic, I was going to tell you a story just between us. No one's watching. It's only a couple thousand. So it was so I was in Puerto Rico and we're talking to some Bitcoin OGs and some people that were in hedge funds and things like that. And they were talking about how they would sit down with these exchanges. I'll just say exchanges. I'm not going to say specifically which one it was. This is all hearsay. So I know Gary watches the show. Gary, you can't sue me. I'm just an individual. And they said that, yeah, we would go and meet with these exchanges. They would tell us like, they had a crypto token. They wanted to get listed. They say, well, here's the whole process and this is how it works out. We're going to list this, this and this later and then this, this and this later. And they're like, okay, thank you so much. They'd walk out of that office and they just like crazy. So like, I know people think that they think that there's, there's manipulation in the traditional markets. The more that I, in the space, the more I realize just how manipulated this market is. I think like we're just under a trillion, right? It's so easy to manipulate this market. And I know people don't like regulation, but it has to happen. And the question is, do you want to be a part of this conversation? Or do you want to sit on your hands and don't speak up and be one of those people? So that's just, that's just the question I have for everybody in the comments. They can just sound off and tell me how much they hate me, but it's just the truth. And there is one more thing that is, that is concerning. It's not just regulation from outside. It's, it's the legalities inside. And this was, uh, came across the desk this morning, actually, uh, digital asset advocacy group. It came out and said, hey, Nexo attempts to silence customers and critics. This is recently Nexo. I think we all know them. A crypto lender whose global headquarters is allegedly located in Switzerland, issued DAG a cease and desist letter demanding that we stop bringing attention to negotiate reviews of Nexo or attention to negative reviews of Nexo made by their own customers on the trust pilot website and via social media platforms. These are the things that are coming about. There are lawsuits being thrown all over the place. If we think we're in a decentralized world, we are not. And these are the things that I think these are one of the things that concern me more. So a lot of things that are going on in the government level. So, uh, it's scary times and we'll see if people get silence, but that's not the only one when we all know the other ones that are coming out, especially within our community. I just, uh, it's amazing to me that, uh, this, this happens and whether it be right or wrong, it just, it is. And I bring it to everybody's attention because don't be surprised if these things start to slip away. James, anything with that one? Well, just, I think what Nexo are trying to preempt is a run on their own bank. As we've seen the damage that that caused, it means that Nexo probably has some stuff locked up in medium term investments and they cannot face the same liquidity issues that everybody else can hit with. So I think you're trying to get ahead of that, but that type of publicity would make me even more concerned about Nexo right now, to be honest. It means they're trying to cover something up or cover the whole. So again, everybody be ultra vigilant these days, absolutely air on the side of caution to the power of 100. Yeah. And you don't know, people will lie right to your face, right? So that's why we have the rules up. Just remember, don't invest more and you can afford to lose. Just think that it's all gone. Everything's a scam until proven otherwise. Don't leave anything on exchanges, don't use any leverage and take profits along the way. If you can, these are just my rules. They don't want to be your rules. But these are the things that I try to live by and they've worked out okay so far. Anyhow, so that would lead me to the next one, James. Have you deployed? Which is, are you waiting? Yeah. Oh, this is my question to me. So have you deployed or you're waiting? But yeah, I have. You know, I just look at numbers and identified bottoms. I spent a lot of time during the choppy period, kind of trading and testing out some new things, which was a lot of fun. But yeah, I have definitely deployed, especially when you look at certain assets that are, you know, over 80% from their all-time highs. Like, if you believe an asset is going to go back to its all-time highs and it has solid fundamentals, you know, even at these levels, you may miss the perfect bottom. I had my finger on the trigger when I was watching it on the Saturday when Bitcoin went down to 17, whatever. And looking at a whole bunch of other assets. So yes, I have deployed, still have some more cash. I was hoping for a couple of dips on a few names, but there'll be plenty of time. We still have some clouds to pass through and we'll see what the Fed says. That will really determine what the game plan is next week when they do say, when they give their guidance, that's going to be the money shot. It's not about what they do. 75 base points, it's all factored. 100 base points, it's all priced in. But what they say is critical. Yeah, because, you know, I was never a big believer in that before all this stuff went down. I'm like, how can just a group of these guys in their ivory tower really have that much power? But they really do. And I think that's going to dictate how the market moves forward and how it works. But I still say, I'm waiting for a full point. I know that people, they say, well, it's like a 30, 20% shot. But I can't remember. There's some guy at the Fed. I can't remember his name right now. But literally, he's tweeting, he's talking to reporters and his narrative changes every two hours, you know, for days and days is just, I think it was Northman Trader pointed it out on Twitter. And it was a brilliant treaty. He captured all of the little sound bites from this individual from the Fed. And they clearly did just read that over the space of a week. I mean, there's so much information coming in this. This isn't like even the Volcker days, like, you know, there was like 14% inflation rate, it was crazy. So even those days, there was only so much that information that could come in at a trickle. But now it's like, there's just a rush of information, you can get it automatically and in real time. So I think if you take a look at it, it's anybody's guess what's going to happen. And then to answer your question, have you deployed? I am waiting to usually I'm a dollar cost average and I buy something every day. And I've been telling people that I haven't done that. I've just waited to, I buy once a week now on Sunday. I don't, I haven't bought, usually I haven't bought any altcoins, but I did buy a couple this time, which will remain a secret until I decide to tell you which ones those are. Because I don't want people going, oh, Rob bought and I should buy it, which is dumb. Don't listen to me. I'm just some guy in his mom's basement talking to you in front of a green screen. That's stupid. So what I'm going to do is I'm just going to wait till July 27th to see what Jay Powell says and then go from there. If he comes out and says one basis point or we know one full point, one percentage point. Okay. So I just got to wait for the market to do what it does. Maybe it'll go down. Maybe it'll be resilient. I don't know, but all I got to do is just wait a little bit and just try to catch it as much as I can. I'll never catch the bottom and I'll never catch the top. I'm just going to wait a little bit. So all the money that I'm usually dollar cost average every day, I'm actually waiting for that day and building it all up and just going poof. There you go. But there is another bigger basket that I'm waiting for later in the year because I don't know if it's going to really drop out, but who knows? All right. So I guess that would lead me to, like we're talking about all coins and things like that. Let's talk about ETH. So there's this thing. I don't know if you've heard about it, James, this ETH merger. And apparently it's going to happen. That's what they say. First of all, do you believe it's going to happen? And is this going to be like the best thing of all time? And do you think this makes ETH unstoppable? Yeah, it's going to happen. The code base is complete. It's tested. I had a few little bugs. They ironed this out over the last couple of months. But what's really interesting is I think Vitalik Buterin said yesterday, maybe this morning, I don't remember, he said after the merge, which will slate it for September 19th, it's based on a block time. Ethereum will be about 55% complete. 55% complete. So that was a bit of a wake-up call for me. It's like, okay, it's half done. A lot of people always, and I've been talking, I have Ethereum. It's my second biggest crypto holding. And I've been kind of talking down to Ethereum for quite some time. The Trump cards it has, it is the incumbent. It's the rider sitting on the horse that needs to be dismounted by an ETH killer. And they've got so much deployed, 3,000 dApps, a lot of activity, et cetera. But it is being eaten alive. But the fact that he said, and I appreciate his honesty, 55% complete is scary to me. Now, the POS move will help people kind of get a much better return from staking. But just getting to 20 TPS from 15 is not going to cut it in this world. So they still will be very heavily reliant on Layer 2s like Matic going forward. And I always said that as well. People think, oh, when ETH moves to POS, Matic will die. It won't be required anymore. It's like, no, it'll be required more than ever. No, no, you are, I mean, that's spot on. Like, I remember in the beginning when I got in 2017, they talked about like, yeah, there's this thing called the ETH 2.0 coming. So you should get on now. Okay, 2017. And then I've had other people say, yeah, I was part of the ICO and in the white paper, this is the exact same thing. So I'm very hesitant. But I mean, again, that's not the end, I'll be all. And of course, there's three phases. So remember, everybody, beacon chain already happened. The merge is happening September 19. That's what they roughly apparently. But that doesn't mean we go to this part of sharding. So this is great for proof of work to proof of stake. This is great for transactions per second and speeding things up. But again, I think Polygon's here to stay for quite some time. We covered this. I mean, Polygon's on a tear. They just got picked up by Disney to do that incubator program. They were the only blockchain out of six companies that got picked up. And this ZK EVM, their virtual rollups are our ZK proof rollups. And all this is going to do is just our zero knowledge proof. All this is going to do is allow them to do, you know, transactions, not just one or two, but hundreds of transactions on a layer two, then stick it on there and it'll increase those transactions. And then as far as there was just one thing, what was it? They got the nothing phone partnership too. What a great name for. Polygon, Sandeep Nalawal said this, it makes Ethereum almost technically or theoretically infinitely scalable. And that's great. And then they talk about down here about how it could actually help with the fees because in a rollup, 78%, 85% of the cost is attributed to storing ETH and the component can move to avail, which of course is on Polygon and then off it goes. So I think that if you own Polygon, there's a reason why it jumped up. Gee, how did it go? Let me see. It's gone bonkers over the last month. Let's see. Yeah. Polygon will last 14 days. That's a nice chart. Hey, even Jim Cramer got it right. Sometimes there's a bull market and the bear market. Look at that. Actually, hold on, 60 cents a dollar, 91 cents. We'll see how it goes. Anyhow, my personal opinion is this is that if they pull this off, they're pretty ahead of a lot of places. So that's going to be a lot of market share, a lot of developers and what isn't built on Ethereum, it seems like these days, but there's still room for the Cardonos and the Solanas and the Polkadots and the Avalanche and things like that. We'll just see how it goes. So that is that. Now let's finish up, James, getting long for today. Pelosi. Nancy Pelosi is an amazing, well, her husband is an amazing trader and excels at leveraging insider information. Apparently, allegedly, we don't know. We have no idea. Don't sue us. Is this good? And are all politicians corrupt? That's almost a rhetorical question, but go ahead, take this one. Well, you're my political guru. So I don't study U.S. politics. I'm not really interested at all. But however, I think Paul Pelosi is the husband and Nancy, whatever they do, their timing is impeccable. He or she or both of them or whatever, they bought Tesla right before Biden's EV plan. They bought Microsoft right before a $10 billion government contract. They bought NVIDIA before a $50 billion fund for Intel and NVIDIA, airmarked for those guys. So yeah, I think he has a crystal ball or a wife that slips little pieces of paper across the dining room table saying, I don't know, what do you think? I mean, it's just every single time he nails it. And he does kind of what I do, heavily leverage positions. I call options leaps on certain positions. I think the money he made from just in the video video call in the last couple of weeks makes about five or 10 times her annual salary. Yeah. What I think, I don't know, I'm just jealous that I don't get that inside information. That's really what it comes down to. I wish I did, but if it is, it's very illegal. But I will say it is to get to the last point for the politicians being corrupt. Here's what's crazy about all that stuff. If you just Google stock trading and politician ban, it goes back decades or years and years and years. And it talks about, to ban Congressional Stock Trading Act and it talks about how we're close. And I think the last one is Congress, yeah, April 26th, Congress is running out of time for lawmakers stock trade ban. To my knowledge, I don't think this has been been signed. I could be wrong. Let me know in the comment section. But just remember that they couldn't sign that one, but they sure could sign this one quicker than you can say anything, which is on July 6, crypto holders banned from writing rules on US digital assets. So, of course, it's okay for the other stuff, but for crypto and digital assets, you better not do anything. And that's just how it goes. Yeah. I think it's very important to have people that know nothing about the space to write rules on the space. I totally agree. Yeah, just, yeah, exactly. sarcasm for those who don't follow my sarcasm. Yeah, I also want people who don't know anything about planes to fix my plane before I get on it, just to make sure, just to make it as bumpy and crazy fun as I possibly can. And then lastly, we'll talk about how, you know, we've lost a good amount in our market cap. We were at what, 3.2 trillion? Now we're just at a trillion. So, yeah, that's like two, at least some quick math. That's a lot of trillions. 2.2, let's just say BlackRock itself just lost their clients 1.7 trillion. And they didn't really lose, lose just that there's a reduction in the actual amount or the value of those stocks. So, James, what do you think here? Is this like, is this just par for the course and everybody should just say, hey, that's just how it goes? Or is there something that BlackRock just isn't doing? Well, I think, as we know, and I've mentioned a few times and it's been widely publicized, we had the worst first six months of stock market history in the last 50 plus years. Everybody was caught out and BlackRock has considered one of the preeminent or best allocators of capital, loved them or hate them. Many people consider they're evil, especially what they're doing now with real estate and other things and the types of investments they make. They are capitalists on steroids. But for them to get so whacked is very surprising, especially considering they have about a, I think, nearly 10 trillion under management. Well, it's 8 trillion off it was 10 trillion. But nearly a trillion dollars of that is actively managed bond funds, which definitely took it in the shorts as well. But when you think about that dollar amount, and to put things in perspective, like everything, so billions no longer a lot of money, but a trillion is and 1.7 trillion is more than 100 times the GDP of Zimbabwe. So he lost a lot of money just from that in perspective. And you know what? So like, I mean, they go down 1.7 trillion, it makes a couple of headlines, but it's not like CNBC, MSNBC blasting all the places for as like Bitcoin just went down to $20,000. And of course, I got to tell you, I don't know if that's a bad thing or a good thing. If you think about it, because that means that people will start to sell more. It means it's cheaper. I can pick it up. And I always look at things in a specific way, which is, is this asset expensive? Or is this cheap right now? And right now, me personally, I think things are pretty darn cheap. All right. 70% off the old time high. And we know because of its scarcity, one of the things I track a lot is the amount on exchanges that's just draining. And basically, if Bitcoin on exchanges continues to drain at this rate, there'll be nothing left on exchanges by the year 2025, 2026. It's just been, you know, like the whole not your keys, not your coins narrative has never been more valid than today. And that's been canned for a decade plus now, but everybody is doing it. Everybody's figuring it out. I just hope everybody takes the time as well to learn how to self custody because one mistake, you can kiss everything goodbye too. So be careful out there, everybody. Yeah, be as careful as you possibly can. I will just say, that's a great, thank you, James, great segue. So we're going to take some Q&A, but if people have any questions about cold storage and how it all works and what's a private key, what's a cold storage, what's a ledger, there's this great website. It's 100% free. FanTeachesCrypto.com. And there's a link in the description. And then module two, I tell you how to do the things that I have kept me safe, detecting scammers, how to avoid them, what's a crypto wallet, what's a public private key, setting up your nano ledger, setting up apps, ledger live app, transferring crypto, deleting and restoring an ledger, and pretty much how to just do all the self custody you want to. And I break them down into very small, bite-size pieces. Don't get overwhelmed. All right, there's my shilling for the day. And that's it. So look, we'll step into the Q&A. James, thanks for stopping by. You got a couple of minutes to answer these people's bloodthirsty questions. Yes, sir. Okay, and we'll go from there. All right, everybody. So if you got to take off, that's cool. Just stick around. We'll do the Q&A and need more likes, smash it. Okay, I like that part. Let's see. Ben is, yes, Ben is on vacation, sipping daiquiris, which I thought was funny, the daiquiri part. I'm like, I didn't see, I thought Ben would be more like a Bud Light guy. Nah, I'm just kidding. All right. Shout out to all the DCA people. Wrenches. Here's a good question. Who has profits? James, have you been taking profits along the way you just been accumulating? Because I know you got two bags. You got a trade bag and a hold bag. Yeah. So I have stuff that I kind of hold, but it's so funny because 2022 we knew it would be a choppy market after 2020 and 2021 being so good. When I look back at, I like to look at things in different time frames like the last 12 months, like my two big positions, in summary again, to repeat, I'm about 80% Bitcoin, 80% Tesla. And then I have my crypto, three things. Mainly, it's basically Bitcoin, Ethereum, Solana. The Solana and the Tesla are actually up over the last year. Whereas Ethereum, Bitcoin, and some other names like MicroStrategy, etc., are down hard. So it's just one of those things. You can't win them all on reflection, I think. I'm still kicking myself. Sometimes I broke some of my own rules by listening to too much of the echo chamber around the internet and crypto. Everybody is saying, Ethereum is going to 40,000 and Bitcoin is going to 250,000. I just thought it was maybe an elongated cycle and we hadn't hit the top yet because we kind of did the top on April 14, 2021. And then we had the November, whatever, 17th it was, the weather was kind of like tapping it last to break through higher. And yeah, the whole, the whole huddle narrative, hold, hold. That's dead. Now just, you know, trade short tops, go long bottoms and get in and out. So that's kind of what I've been doing for many different things. And it just, especially in a choppy market, you know, taxes be damned. Another big thing I, you know, to avoid a monstrous tax bill, I held things as well. And that, that was kind of probably the big mental block I had last year was not to incur too much taxes. Therefore, I held and I will not make that mistake again. I didn't know that. If you met me 30 years ago or 25 years ago, I would have told you, never go broke paying taxes, never go broke paying taxes. And then things change, sometimes things change, but that's the advice, you know, pay your taxes. It means you're making profit. Yeah, that's right. Remember, like, I mean, short term, long term, I don't know where you guys are at. Remember, like long term capital gain, 20, 21%. Short term, yeah, that part does suck because I mean, it depends on the state that you're at. I mean, you're looking at 25, 34, 42%. And also, if you live in a junk state like California, not that I don't like Californians, it's just that you guys got to pay a lot in those capital gains. You get really got to get kicked in the teeth. James still buying Bitcoin and Solano? Yes. All right. And then what was this one? Oh, this is a good question. How do you use Ledger Live? If Ledger Live goes down, I mean, with my 24 words. So here's the thing. And this is a big misconception. And I get it because people think like, we're always thinking in terms of, like, it's a bank. And of course, there's like a central authority. And then Ledger is this thing that is just there. That's not how it works. So it's just the blockchain. The blockchain is in 10,000 different nodes. And I talk about our different computers, if you want to take it simply. And I talk about that. And I try to make it as simple as I possibly can in all these videos. So it doesn't sound about Ledger going down. It's about the Bitcoin network going down. And the Bitcoin network could theoretically go down if the entire electrical grid went down and the entire planet. But that is, but not even that. There's also a node in space. And I think it was in the space station. So it doesn't really matter about that part. And I don't think I don't know about you. But I haven't been dodging a lot of EMPs or electric electromagnetic pulses in my entire life. So you're going to be just fine. Watch those videos. And you'll make it out. And it's very simple. And also, if if you did something like me, like I forgot my my Ledger in Puerto Rico, but thankfully, I have my 24 seed phrases or seed words. And just a word of the Ledger from Ledger.com. Got it. Restored it. All my crypto is there. Very nice for you. Okay. James is the man and Dennis too. I like that one. J.W. says, do you have one for Tracer? No, but I don't. Ben, or James, do you got one? A video for Tracer, how to use it? I use Tracer actually, ever since I do have a Ledger for Solana. Tracer doesn't support Solana right now. But I do that. I mainly use Tracer. And I like Tracer. But there's a lot of other cool things you can do as well. You got a video card is also very good. Ah, cold car. Do you have a video on how to use a Tracer? I don't remember. I've been what you know, actually, I've been wanting you to do kind of like open box, how to do videos. But I don't see the point because it's been done by 1000 other people. So I like it because they don't trade it on content. So just James, they don't trust those 1000 people. They trust you. Yeah. Okay. I can do it. It's super simple. But there's a couple of rules and pitfalls you're going to watch for as well. But yeah, I can do that. Maybe I'll do bite in you, Ledger. Ledger and Tracer and just do the open box and show you how to set them up real easy and things to watch for. Perfect. Oh, this one. Any Solana news? I really keep up on it. What do you got? Well, I don't want to talk about it because I'll be accused of being a Solana show. Well, just just just track the metrics, everybody. Track all the metrics for all the chains. Look at users, look at adoption, look at money transferred on the chains, etc. Look at NFT purchases and sales and buyers and sellers. It's all there. And that's where the answer will be, especially again, Matic is actually coming up. It has exploded once again in popularity. They used to be a top three chain per our profiler. It was Ethereum and Solana were joined first last year and Matic was number third and it fell to number five because other chains had bubbled above them like Phantom and Avalanche. But now Matic has come back with Vengeance. Yeah. Are you talking about transactions or volume? Everything. So we've got a 20-point scoring system where we profile all of the top chains and we'll do an update actually hopefully next week. We're just going to pull a bunch of data together. Yeah. There's one that I was listening to Mark Cuban talk on some show about how bullish he was and he mentioned this website. That was pretty good. Crypto fees.info and you can just see who's paying what. This doesn't give you the transactions, but it gives you to see how much people are paying. I thought it was interesting that Uniswap in the last, the seven-day average, 8 million in fees. And I think it's big. Yeah. That's a beast. Uniswap is, again, one of the big takeaways from this crypto winter is names there Ave and Uniswap. Those two have Sean out there. And remember as well, I actually did my forecast back in 2021 of what I thought would happen in 2022. I said, Coinbase would travel up and die because it's going to be eaten alive by Dexes. That's exactly what's happening right now. So the adoption of things like Uniswap is just gobbling up all the transactions. Of course, people always move to the best, cheapest, fastest way to transact and Coinbase is just pricing themselves out of the market right now. They are, but you know what? I just discovered this and I'm signing up. Because I can't use Voyage anymore as we all know, but Coinbase has this program where it's $30, $29 a month and you don't pay any fees. And be careful that every people sometimes don't see that, but when you look at the spread between the buy and the sell price, that's where they get you. So where do you go? Where do you buy all your stuff at? It depends. So mostly right now FTX. That's everything I need to do. But I still do have a Coinbase Pro account, but that Pro has gone away because I noticed there was a transaction the other day and I looked at the fees and I was like, what just happened here? I was like, I'm not doing that again. I just got everything off Coinbase. Yeah. How about this one? I forgot I unsubbed the day after all the size he's been giving. I think he had more VGX and went on. No, I had a lot of Voyager. I had a lot of token. It's one of the few that I left onto Voyager and that is in the EcoSphere. Who knows if I ever get that back? So we'll see. A thousand likes backflip in the pool. Boutful. But if when Bitcoin goes 100K, it will happen. Ledger or Tracer? I never use a Tracer. So I just use my ledger. I got like four or five of them. Yeah, I do. The only reason I have a ledger is because of Solana. Otherwise, Tracer all the way, Mohammed. Yeah, good point. DanTedash Crypto is a scam. It must be. It's 100% scams, LMAO. And that's a great point. Even when I talk about, so of course the rules, there's a rule there that says nothing on exchanges. However, I talk about I trust all the time. It's right above my head. So that's, I mean, it's some way it's an exchange, but really it's a Roth IRA. So that's right. Everything that I say, James says, and that you hear, just assume that it's all incorrect until you verify it. Don't trust, verify. And that goes for me too, because guess what? I'm not perfect. All right. So, and people are like, well, Rob, we know you're not. All right, so let's see. Ben is a Keystone-like kind of guy. I don't, I think he can afford a better beer, although it's good stuff. I don't mind it actually. I don't even know what it is. Oh, it's the best. It's a very... Is that where you buy pretty cans for $10 or something? There's a place here in El Paso. It's called the Ale House. And it used to cost, it was 50 cents for each beer. That's how bad it was. And we used to buy it by all the time. It was pretty good. Ben likes California coolers. I did the same stupid thing. Oh, what about this? If 125 basis points in time for brown trousers, there's no way they could hike at that high. But what if they did? What if they said, you just say, you know what, Volcker 125, and he drops the mic and walks out. They can't. Again, you got to look at the 10-year yield. And if you look what that's doing now, it's just going down. The last time I checked it was like 2.86 or something. That's the max limit of where they can go. And they're bumping up against that right now. So there's just way too much debt. They know it. 130% debt to GDP. GDP is falling. Debt is rising. They're not able to do QT. They're boxed in. I have a video on that I did a few months ago as well, how they can't escape the debt. Everything in the world is built on debt. Jacking rates crushes the world. It's that simple. No, we'll see how it goes. I mean, I just think he's going to play hardball. But for him to say any talk about the soft landing, that would be an amazing magic show. That's all I'll say. It'd be like landing a plane on an aircraft carrier with one wing. It's impossible. Beardy. Hey, Beardy, what are taxes? That'd be the dream to live where Ryle Paul lives. He came in with no taxes. Or Simon. Well, Simon Dixon was in that Isle of Man place. I don't know those taxes or not. Like I've always said, this is for Tom Williams. Never put more than 10% of your bag in any one basket that includes wallets. For me, that includes everything. That includes all my investments. Like exchanges, wallets, everything. And I've always said that. Real estate, land, my businesses, crypto. And I don't really do much stocks, but there's a little bit of there. So I just want when one thing goes down, I want the other thing to go up and then vice versa. And if I can do that, I don't have that much stress. And the guy that has the least stress is the winner at the end of the day. And we'll go there. Let's see. I think we're coming to the end. I don't have many people. No more questions. Just some comments. How about a joke from Beardy? Beardy's always full of jokes. Love that guy. I had diamond hands and watched my 17K dropped at 3,500. That sounds familiar. But all these years later, it seems I haven't learned a thing and then kicked in the teeth with Celsius. You know what? I got to tell you, I'm going to start doing, as time moves on, I always talk about taking profits, but I really should talk about like when and how as time moves on. Because we all can dollar cost average. We can all diamond hand if we really want to. And we can all buy the dips, but you really shouldn't buy all the dips especially right now. So I think that'll be the next thing. If I can just solve that issue for some people, but I can't because I can't give financial advice. So I'll just tell you what I'm doing. All right. I did, on that note, Rob, I did put a series together actually during the bull market is should I sell? It's kind of like the reverse of the should I buy with layered ways to ladder out of assets. Is that a playlist? Sorry. Yeah, it's a playlist. If you go, should I sell investments? It should pop up. But you know, things like Matic had hit the very first step of the five steps. Like $2.75 and, you know, everybody's expecting to go to like four or five bucks and we never got that far. But that's, it's a good methodology for people to follow. Just build your Fibonacci lines and based on there. Let me see. There should be a, should I sell? I got a lot of playlists, brother. Yeah. It might be under should I buy? That's right here. Should I buy? Yeah. Should I buy? Yeah. There are those guys. So there's a. Oh, I see. Polygon, Phantom, Polkadown, Solana. And by the way, a quick warning because there are things up there that don't ever invest by looking at thumbnails. I think you first said that, Rob. So, so when somebody says like, I saw one of the thumbnails there, Cadena is on there. It's like, watch the video first, then make your decision. We share information so you guys can do your own research, make your own decisions. Yeah. Let me, yeah. Well, I call them, of course, the thumbnail investors and they, and they're just like the arm-share quarterbacks that are like, I can't believe we brought you through that. It's the same thing. So it looks like this, my thumbnail investor. Oh, that's great. So don't do that. That's just, that's a recipe for disaster. That's all we're trying to say. Watch the content because there's a lot of, there's a lot of nuances. That's all, that's all we're saying. Let's see. I like that. There's a good question. Why don't ledgers hold more stuff? JT? Well, they hold a lot. They hold a lot more than when I first got one. That's for sure. And then there's, there's two different types. There's, I got them both here, actually. There's the old style with the buttons, which doesn't hold anything at all. And then there's the, I guess this is the ones, the X, what's got the buttons all built right in. Those ones hold a ton of stuff, but I don't know what you're experiencing with Tracer. Yeah, I haven't had a problem so far. And then, and then do what I do. I don't have just one. I have multiple as you just saw, because you never know when something could happen, not to this thing, but to where you actually keep your, your phrases. So back up your phrases, back up your, your ledger and go from there. I think I want to make sure. And that is that. Well, how about there's one more for you? Sure. It's fun. Be bullish. You're not alone. You're not alone. James, what's the best Wallace store, ETH other than ledger? Wow. It's the same thing. I use Tracer for ETH. Yeah, it works. It works real well. Okay. And I'm good at your habit. So, you know, go with, go with what you know, because that's a big part. You don't want to have like every single wallet possible, but have a couple safe, safe deposit boxes and be very disciplined about keeping records as well. As best you can. And then back it up. Like I've got this stone book and I got two of them with all my mnemonic phrases. One is here with me and the other one's in my safety deposit box. Because I never know my house going to catch on fire. And then that's all my crypto. So just something to think about or those metal ones, whatever. James, that's it, man. There's no more questions. There probably is, but we're coming up on an hour and we've got stuff, stuff going on, family and whatnot. So everybody, thanks for stopping by. Anderson, you just said polygon just crashed. So I just on that note, by the way, when a chain crashes, it means it's being very well adopted. So that's how busy Matic is, right? I remember I talked about it a few minutes ago, the explosion and adoption of Matic. That's what happens. It's called being a victim of your own success. It can happen. And there's differences as well between congestion and crashing. But we'll look into that. Thank you for sharing that, Anderson. All right, guys. So again, you can find James is the YouTube channel and also for the Patreon group. Links are all in the description and then we'll go from there. So everybody, thanks for hanging out with us on a Friday. Nice, beautiful day. So hopefully the better days are ahead of us, but just be, do your due diligence and just expect some more volatility. Thanks for stopping by. Thank you so much. We're going to go buy a case of Keystone light right now. Check it out. I guarantee my friend Alex has got one right now. All right, I'll see you guys later.