 Welcome to digital asset news at the top stories and crypto and bring out a bite size pieces today. Just as the thumbnail suggests, we're going to talk about the single biggest mistake crypto or pretty much anybody who's in the market, their biggest mistakes are the one biggest mistake that they make. So we'll take a look at that. We'll take a look at how one of the largest hedge fund managers, Ray Dalio is now getting into Ethereum, even though he talks about how everything's going to go down and everything's going to be banned. And also we're going to talk about how Ethereum is going to be turned into a movie. And I got the lady who wrote the script. And lastly, we'll take a look at a project that I think is going to be huge ever done. So before we get all that stuff, first, let's take a look at exactly what is going on into the markets. And it's not so pretty. So today, it is Monday, it is the 20th of December. And we got a market cap and an ever dwindling supply of 2.16 trillion. I don't need to tell you that. I think you know that I think everybody's in a pretty funky mood right now, especially because we didn't hit our goals. And it's true. And it is never good when we think one thing's going to do something and goes the opposite way. Hey, I thought we're going to have some fireworks in December. Didn't happen. But as we see in the next piece, doesn't really matter. So 2.16 trillion. I mean, everything's down across the board. I mean, there's anything that's really up majorly today. I don't really see that happening. Let's see, one hour change. Not really. I mean, 1% for Chainlink. Ooh, watch out. 1%. Then over the last 24 and 7 days, just some pretty abysmal numbers. And that is the state of the market for what we're in. But don't worry. There's also people that are feeling our exact same pain. And then those are the folks over in traditional market space, S&P 500, NASDAQ 100, Dow 30, Russell 2000, U.S. Dollar Index. Everything is essentially down across the board. There's a number of reasons for that. I mean, we could talk about how institutional investors are selling off because they had monster years and they're going to come back in. We could talk about how the taxes are coming up in America. We're talking about April 15th. So they sell right now. They're probably worried about capital gains tax. But in all reality, it doesn't really matter. Does it really matter why people are selling off? They're selling off and the numbers are there. So we can take a look at why it is or what we could just do is we could sit back and take some lessons from people who have been there for quite a long time. I've always said this and I'll say this again, you don't know where you're going until you know where you've been. And to prove my point, there is this gentleman here, Nick Murray. And he is the investor, not investor of investors, but as far as like hedge fund managers, he is the advisor to the advisors. So this, I'll just do it real quick. His background, he's the editor of Nick Murray Interactive, started his career as a stockbroker, advisor working in a major Wall Street firm, author of Serious Money, great book, left Wall Street in 1992 to help financial planners, author of 11 books, including Simple Wealth, Inevitable Wealth. And I found this gem, I found this yesterday, actually, and I had taken a look at his book before and it really had things just hadn't clicked. And what I'm going to share with you right now is why these things that he's talking about are just the basic principles. Sometimes it's people's jobs to make things more complex than they need to be. But in reality, things just need to boil down to the most simplest parts. And let's just take a listen. Look at the numbers. I mean, in 1975, the S&P 500 was 90. As we're sitting here, it's pushing 2100. In 1975, there were 4 billion people in the world, and half of them were living in extreme poverty. Today, there's 7 billion people in the world, and 1 in 10 is living in extreme poverty. Where did everybody go? Well, everybody went in the middle class. And so you've had the greatest accretion of health and wealth and longevity and everything else, major wars, ending, just going on. So that was essentially just a warm-up into the next two pieces, because I'm going to break down this 30-minute video into pretty much just these next two segments, which were about a minute or so, or two minutes, and the next one's just about a minute. And what this is, is probably two of the best pieces of devices that I've ever heard, and I can probably give to you. And the last one will be the single biggest mistake. So the first thing I want to talk about is, or I'm going to have Nick here talk about, is the irrationality of the market. And we see it all around us. It is irrational, especially if we take a look at what he just talks about, optimism. Because if you just take a step back and zoom out, like we're going to talk about in a second, these whole things make sense. So this next piece, it's all about the irrationality and pretty much where we're at right now. Irrationality is the free market operating the way it should, because human nature is irrationality operating the way it should. You can't look at periods of great contraction in the market any more than you can look at periods of huge optimism and say, this is undue irrationalism. This is human nature. Capital, like everything else in human nature, outruns itself during good periods and outruns itself during bad periods. And that's volatility. But if you focus on those, if an investor is allowed to focus on those. Allowed to focus on the periods of irrationality, the volatility. The volatility. Right. If you focus on the volatility, you miss the picture because the volatility around what? Excesses of optimism and pessimism around what? Well, the answer to that question is a constantly rising trend line. And I think all of the good investors, much less great investors I've ever known or known of concentrated on the constantly rising trend line and all of the failed investors I've ever known or known of sooner or later fixated on one of the irrational excesses and let that run his portfolio to his eternal sadness. Okay. Doesn't that make sense? Isn't that what we've been talking about on this channel for the longest time? Dollar cost average. When in doubt, zoom out by the dip. It's the same thing that Nick has been saying for probably decades, the different advisors that he's mentored. And I think the biggest thing to really make mention of here is just to remember this phrase that he talked about, which is don't confuse temporary declines from permanent losses. I think that's a big deal, because when people are spouting off and talking to their friends and they're like, oh, I lost so much money. I lost so much money. You haven't lost anything as long as you're still in the market. And I think that is the big thing. So just like Nick said, just sometimes you sit back and go, well, I don't have any more money to buy the dip. But all that I do is just sit here. I'm going to be right here. I'm not going to move any way shape or form because I know in the long run, things will work out. So let me know what you think about that in the comment section. I think it's probably one of the best advice I've heard for a long time. Let's move on to Ray Dalio changes his tune. So I always like it when the financial experts, Ray here, really starts to turn around and they kind of like it's like a light bulb goes off. And here's what's going on. So Ray Dalio is very impressed that cryptocurrencies has held up for a decade. Ray runs the world's largest hedge fund, Bridgewater Associates, has been slowed to embrace crypto. That is very true. In May, he said that, which was kind of odd, he goes, well, now I have some Bitcoin. But he also told the interviewer that regulators will kill crypto if it becomes too successful. So okay, the guy's just gambling, right? But he also predicted an interview with Yahoo Finance late last year that he didn't think digital currencies would succeed in the way people hoped they would, in part because of the possible government action. And in a separate interview, he said that he thought that Bitcoin would be outlawed. Okay. So that's where that's where he thought, but he's like, I own a little bit. And now, he revealed he's getting deeper and deeper in the pool with an investment in Ethereum. In addition to his Bitcoin, though it declined to reveal exactly how much he says, I think it's impressive that for the last 10, 11 years that programming has still held up. So here's the big thing about this. And Ray might just have a little bit. But in all honesty, if you're talking about it and you're just talking about, well, I got a little bit, usually people like that, you know, that have a ton of cash just laying around, maybe Ray it, maybe not. They probably do have a sizable amount, especially if they're talking about it. So it's amazing how it's like, it's nothing. And it's like, okay, it's something I'm going to get into it. And then all of a sudden it's like, yeah, it's getting pretty big. And then before you know it, they just go full crypto and we see it time and time and time again. So anyhow, I thought it was an interesting story about Ethereum, which will lead me into my next piece, where we talk about Ethereum, the movie is coming out. And what I've actually, it was just happenstance that Camilla Russo, her team reached out and said, Hey, we're talking about Ethereum movie. And I thought, you know what, if any is going to get us to the next level, probably a movie. But I think what she's talking about and how she wants to get us there, goes beyond that. So let's jump into the interview. All right, everybody. So as promised, we've got a special guest Camilla Russo from the Defiant and also the author of a pretty good book you might have heard about, The Infinite Machine. So Camilla, welcome to the show. Thanks for coming on. We appreciate you being here. Hey, Rob. Thanks so much for having me. Yeah. So just so you know, this book's been out for a while. So we're not here to talk about the book, even though it's pretty great. There's some tidbits we'll get into in a little bit. And also you can find Camilla on her Twitter account. She's also the chiefess of the Defiant. It's a pretty good YouTube channel. And actually we had that. I did this on the show a couple of days ago where it was you and Raoul Powell and your co-host and you guys talked about the different prospects of what's happening in 2021, leading into 2022. It was really fascinating. You guys have actually grown quite a bit for that channel. So it's looking pretty good. But the thing that we're here to, you're welcome. The thing we're here to talk about is this little gem, The Infinite Machine. So there is going to be a movie coming out. And I think this is going to be pretty big news for people in the Twitter or in the crypto sphere. So tell us what's going on with that. How far are we and how can we make this a reality? Yay. Super excited to talk about this. So as you mentioned, my book, The Infinite Machine, the first book on the history of Ethereum was published last year in July by Harper Collins. This year, a producing studio was interested in turning my book into a movie. They brought me on as an executive producer. And I had the idea of raising the funds to actually make the movie happen together with the Ethereum community using Ethereum technology. To me, it didn't make sense to make a movie about Ethereum without including Ethereum community into it. And of course, that's how NFTs came into the table. And the whole idea was get back into the core of the Ethereum story. So I reached out to one of the guys who was involved in the design of the logo of Ethereum. And he turned out to be someone who is organizing artists in Cuba to sell their art as NFTs. So from there, I was like, wow, it would be even more amazing to bring in these artists from Cuba to design this collection for The Infinite Machine. And so from there, we expanded the concept and said, let's bring in artists from all emerging countries to build this collection. So we have 36 artists from Cuba, Argentina, Venezuela, Kenya, India, a bunch of emerging nations who each produce an original piece and 10 versions of the Ethereum logo. Those versions were then split in fours and then programmatically combined to create a collection of 10,499 unique Ethereum logos. It's the only major NFT collection that features the ETH logo. And I believe it's the only one too that is a platform for really talented artists from emerging countries. So super excited about this. The sale went live for white listed addresses last night. And it will be open for the general public at 7 p.m. Eastern today. So if you're not on the White List, you're able to participate in the sale as well. If the initial 2100 that we're selling aren't sold out from all the White List, but we will have, this is kind of the first batch that we're selling and we'll have two other sales in the next few weeks. Cool. Oh, I like that. So yeah, let's, so just real quick to take a look. You can follow this, the link will be in the description for Twitter account. So you can actually go right directly to the OpenSea, the correct NFTs that are for sale. So nobody gets scammed out there. I think people have had that problem in the past. It takes you right here to the actual collection itself. So real quick, so Camilla, breaking this down for us, because I see like, I mean, talk to us about the NFT itself, the rarity. Is there any other kind of like secondary utility for these types of things like some different projects do? And how is it all working? Yeah. So, so there's different layers of rarity in these NFTs. The first layer is kind of the art. So if you get a complete work from a single artist, like one that's not shuffled up, that is rare. That is more rare than these like mixed up pieces. The frames, the way that the frames are composed also adds a different layer of rarity. But I think what's most interesting is these NFTs are a ticket into kind of the backstage of the movie. So about 30% of NFTs will have a like an embedded reward in them, which haven't been revealed yet. They'll be revealed at a later point when all of these are minted. But so one third of NFTs carry the ability to have different levels of involvement in the film. For example, be an extra in the Infinity Machine movie. Have your NFT appear in the movie. Visit the shooting sites, get a VIP invite to the premiere, and have your name appear on the credits of the film. It's really cool. And then further, and this is something that we'll reveal more details very soon. But most of the fundraise are going to finance the movie. 25% go to the artist, but then 10% goes to a community treasury for NFT holders. So if you've kind of been in the space and know about kind of doubts and all that, you can start to imagine what happens to that community treasury that is being funded right now. So that's also kind of in the words as well for NFT holders. That is pretty, that's pretty great. And then if you think about it, like this is why I think this is such a big deal, because not only is it going to be based on on Ethereum and what actually happened in the history of course, the movie, which will bring more eyeballs to cryptocurrency and digital asset space. But if you take a look at what you can actually do in the NFTs, as far as like a movie, if you look at like traditional players in the music and entertainment industry, if they look at this and go, wow, we don't need to have these big huge financial backers to move movies around. We don't need these big huge allocations to come out and actually make something happen, which is the whole point of the doubt, right? If they take a look at this and people really start to understand, because that's the problem with NFTs right now is people look and they go, that's just a JPEG and I can just right click and save it. But they don't really understand the meaning behind the meaning behind the meaning. So that could be a pretty big play. All right. So it sounds good. Yay. So all right. So before we before we take off, again, how can they find the information? Yeah, it's on the Twitter is at ETHmovie and you will find the links to the discord there, which the discord is open. Anyone can join. And that's the best place really to get all the up to date information and announcements. And then you'll find the link to OpenSea to get all the NFTs that come up in the secondary market. And then the website, the infinitemachinemovie.com, especially in the collection section is where you'll find like all the details about kind of the artists, the robbery trades. There's also an artist section where you'll get to see more information about the artists themselves. So if you want to kind of dig deeper into this collection, the website is where you'll find all of that. Perfect. All right. And then actually, there was one more thing before we take off. I did have a question about the books. I read the book. It was very interesting. It gave us a real look, you know, pull back the whole curtain and see how this all actually happened as far as if they're in getting in or actually being made and created. There was a part in there that was I think the most pivotal part is that how they got around with the different issues that America has as far as with the ICO and how they said, you know what, we need to figure out a way to not to actually pass the Howie test in some way, shape, perform. And the lawyers came about and said, you know what we need to do? We really take a real hard look and say, this isn't about the financial gain you're going to get from investing in this project because that's a security. What we're going to do is we're going to focus on gas. And that is the whole thing of how they kind of like structured everything. How do you see that happening now with the crypto space, especially with what is happening in say the SEC case against Ripple and XRP? Yeah, so Ethereum was really pivotal in how crypto projects going forward framed their structure and their fundraising going forward. Ethereum really innovated in the concept of the utility token. So I think Ethereum like ETH is probably the original utility token. So what lawyers said is, you know, ETH isn't a share of Ethereum. Owners of ETH don't own a piece of a company. They're not entitled to a share of revenue. This doesn't look anything like stock. But what it is is more like a commodity, like fuel. It's like ETH is what is used to make this machine run. So ETH is used to pay for a computation inside this network. So it really has used inside the network. It's not meant to kind of represent an investment. And I think lots of projects going forward use this exact same concept and structure to avoid any problems with regulators. In the end, what was key for Ethereum and the reason why the SEC and the CFTC have come out and say Ethereum is in the clear, it's not a security, it's a commodity, it's actually maybe it has something to do with this concept of utility token. But the key issue here is decentralization. So the fact that Ethereum is actually decentralized and has thousands of nodes and there's not one person or party who controls it, that's what kind of has kept it safe. Perfect. Well, I know that Gary watches my channel. So hopefully he's listening. All right, Camilla, thanks so much for coming on the channel. I appreciate it. And then for all of you that are watching right now, links are in the description. Go take a look at the NFT collection. Then we'll go from there. Camilla, thanks so much. Thanks so much, Rob. All right. So I hope that made sense. I want to thank Camilla for coming on. You can find all the information again in the links in the description. And then lastly, I'm not going to talk about it here, but there's a project. We've been looking more at Play to Earn Games for obvious reasons, which I've laid out numerous times. I think this one's going to be pretty big. This one's called Everdome and I did a review. It's over on Dan Clips. We do all deep dives and things, advancements and crypto over there and leave this just the news. So I would just say that with this, with Everdome, you have really a trifecta. You got Everdome, the blockchain 10 set, and you have MetaHero all working together to make this super realistic metaverse play. And if you believe in what I call the UTT, which is the utility, the team, and the tokenomics, this one has them all. All right. So that's it for today. So look, if you liked today's video and found some value, give it a thumbs up. Also consider subscribing while having to talk about our time sensitive. And that's it for today. So thanks so much for watching. I appreciate it. And I'll see you in the next one.