 That concludes the news. So look, we went a little bit long, 24 minutes, tried to cram in a lot of things, but this is an interesting week. And I can tell you what I'm doing, I'm not telling you that's what you should do, but I'm just sitting around waiting. Sometimes it's easy to buy dips. It's easy to dial the cost average. It's easy, it's a lot easier to sell, but the hardest thing is really just to stay right in the middle and don't do anything until the market tells you what to do. That's just what I'm gonna do. Yeah, let me know what you think about that. And that's it for today. So look, if you got to take off, thanks for sticking with me. I appreciate it. If you want to stop by for the Q and A, we're gonna go over that right now. So I'll answer all your burning questions, the best of my abilities. Other than that, hit the like on your way out. You don't have to subscribe, but it would help if you want to get notified at times, but I do this every single day. So that's it. See you later. Q and A, here we go. Bop, bop, bop. All right. Darth Mike, are we gonna define recession today? Yeah, well, I didn't do it. That was actually, I just thought about that. Janet Yellen really never gave us a clear guideline as to what a recession would be considered. I guess she's been talking to Gary too much. Well, I mean, well, she used to hold that seat of the SEC. So she was really good at that. Poor Janet. History will only remember her distorted and disingenuous patrol of the economy. She lied to the people of the regime like somebody who was in bureaucracy. I don't know. The older I get, the more I'm just thinking that sometimes people just get things wrong. And sometimes people say, well, it's nefarious purposes. Yeah, maybe. I don't know. Who knows? SDSD says the numbers are bad. Just trying to stop in the below. The numbers are bad. I'm pretty sure we're gonna have two quarters of GDP decline and what's gonna be called a recession. The question is, who's gonna call a recession? And now we're gonna have a dichotomy of people who in the media and people like me would say, we're in a recession and we're gonna have the White House and the talking heads. We're like, it's not a recession. Even though it's, that's what we used to call it all the time. Sure, whatever. So we'll see. Fed rates, recession. I will deficit our DC this week. Crypto, sounds like a plan. Go ahead. That's your plan. Sounds good. Profits, I'm not your dad. Nice, set it for me. Tom, good morning. Hey, Rob, you'll be glad to hear FTX gave my money back to me just in time for the dip. I didn't know they were holding money. It's interesting. Must've missed that. Let's see. Will ETH miners move to ETH classic once proof of work is over? I'm not for sure. I don't think that's, that'll be interesting topic. You know what would be great is to get some miners in here. Now to talk about that. I'm not a miner, so can't really tell you. Gary Reid. Hey NS miles, what is Satoshi equivalent to? Well, pennies, really. Let's see. Let's see. Satoshi's. Satoshi to dollars. So Satoshi is just the, let's see. There it is. One sat equals, here it is. One Satoshi equals a fraction of a penny. Point zero, zero, zero, two right now. But hey, if it becomes the world reserve currency like some people think it is, it'll be worth a lot of money. Do I think that's gonna happen? No, but good luck. But hey, and what Michael was talking about is a link in the description for two apps that are free. One is Sweatcoin, which you can download and earn Sweat. The other one is S-Miles or Smiles where you can earn Satoshi's just for walking and it's free. You don't have to buy an NFT like Step-In or you don't have to buy any cryptocurrency, it's free. So I just use both of those on my phone and I just earn both. So yeah. Bitcoin going below 20K your thoughts? I think it, I think the way it does that is if the earnings report come out and just awful and just awful, awful. And the thing is that people like in 2017, 2018, 2019, no one was talking about NASDAQ and the S&P 500 and traditional markets and how it related to crypto because it was really not that well correlated but now it really is because those institutions are overlapping and buying in and of course when they want liquidity and they want to sell, what's the best place to do that? Well, it was only one place that's open 24-7, 365 and that's crypto. So if the earnings report came out and let's be honest, Apple, I mean, the top five companies are really holding up the S&P 500. Microsoft, Apple, Google, Amazon. Well, what was Facebook or Meta? So if those start to take a big tumble, that's a big tumble, that's a big loss for a lot of people around traditional finance. So I can see Bitcoin going below 20K. Sure, why not? Wasn't it just at 17K like about three weeks ago? So it's not outside the realm of possibility. And I gotta tell you for people like me who have just been patient, that's a godsend. Yeah, gray hair is a distinguished look. I agree, that's why I don't use any of this stuff. All gray hairs need to go for good. Yeah, let's see. Rate hikes, stop borrowing, slow spending, lower prices. Exactly right, and the first industry to get hit the hardest is real estate. I mean, look, like we talked about, I mean, we were just had like 2.25, 2.3% mortgage rates, not too long ago. Now we're at five, we were almost at 6%, now we're down around 5.5, 5.6, correct me the comments. And that's huge, I mean, if you're looking at a house for $400,000 at 3.5% APR, that's not bad. You can afford that monthly, but then when it goes up to five and a half, you're like, whoa, I almost just doubled my monthly payment and I didn't get paid double at my job. I can't afford that, and then that stops. And then that house sits in the market a little longer for the next person to come over and say, maybe they can, maybe they can't. And then as time goes on, these builders who have built these pretty nice big houses, they're gonna start taking cuts, haircuts on their products. So people can actually buy them up, they don't sit too long on there. The big difference though, I will say this, the big difference between now and 2008 and 2009 is that first of all, they actually looked at people's income. When we bought this house, this was in 2005, 2005, we walked in the bank, hello sir, what do you do? I work in healthcare. Well, how much do you make? Tell them how much you make. Sounds good, let's run your credit report. And that was it. They didn't verify squat. And I was like, do you have to verify anything? No, no, we just look at it. I'm like, wow, that can't be sustainable. And sure enough, it wasn't. So these days, people actually verify the income. They took a look at debt to income ratios and they say you can afford this or not. And of course, back then you had these arms, adjustable rate mortgages. So one at Fino for the first year, you could get at a very low percentage rate and then every year it would climb back up. And then of course, unfortunately when you tried to refinance, you couldn't refinance because the rates were going to the roof. And then people lost a lot of their houses. And of course then unemployment went up. So there's a difference between what happened in 2007, eight and nine. I mean, I can see there's gonna be problems, but there's a little bit of a different problem now. That's just how I see it. Damn it, that was a long explanation for one question. Kabul Khan, hello. Tesla, hello. Dave Jensen, late again. That's okay. It doesn't matter. Kabul says the right, Dan's not your dad. This is not financial advice. Do your research as best you can. And you know what? Some people were, they said, you know, Rob, how can I do my own research when a couple of these lending platforms just lie to my face? That's just it. It lied right to your face. Sorry, it lied to me, it lied to you, it lied to everybody. And that's why like it's so important to never, like investments used to be, like if you invested in gold or S&P 500, you could just set it in and forget it and walk away. Crypto is so different. You have to like be on top of it all the time because we're so early. And that's what happened. So if you haven't subscribed to me, you might want to think about it. Just saying. Thanks, man. Trader Joe's, what are the changes of definition to? I don't know what the changes of definition to Trader GI Joe. I have no idea. What was it before? It was two quarters of economic slowdown in the GDP. That's all pretty much what it was. Actually, let me just, I'll show you the definition. Investopedia. So let, I just typed in recession definition. This is from Investopedia. And it says, this is not what the White House says. A recession is a macronomic term that refers to significant decline in global, in general economic activity in a designated region, IE United States. It's been typically recognized as two consecutive quarters of economic decline as reflected by GDP in conjunction with monthly indicators, such as rising employment. That's, that is true. And of course, if we take a look at it, GDP was down in Q1, hour in Q2, Thursday, the numbers come out. So we'll see. But it is something to think about. Cause I'm pretty sure unemployment rates are still 3.6% and they're only inching up. So it is what it is. Orpah, Isaac says I'm buying a house. This is great. If it was me and my wife talked about this last night and we said that we're not buying any properties for 12 or 18 months. Cause I think there's a more of a slide coming for houses. I'm not sure about everything else, but I think the Fed will still continue to raise the rates. As they continue to raise the rates, that's going to price out a lot of people for to get mortgages, unless they all cash. And then when that happens, prices usually drop because the builders like, man, we got to move this inventory. It's not good to sit here too much. Crux of crypto says I thinking 17K, sure, which is resistant from the recent drop. 15K is the bottom of the local bear flag. Measure movement, 13K, which is 84% down from last bull runs high. I don't see how it can go lower. Never know. I remember there's a lot of people that said that you would, this is the last opportunity to get Bitcoin below 40K. And then it dropped below that. And so this is the last opportunity to get below 30K and 20K. And here we are again. So who knows? I don't know. I've got two scenarios for me in my head. One, it's pretty much stagnant and just kind of goes flat for a while. Cause I still believe in those four year cycles, which means I got two and a half years of just dollar cost averaging, just like what I did in 2018, 2019, and 2020. I'm cool with that. Or the other option is everything really goes lower. And I just sit around and wait. And then I just wait for a specific time when I think, okay, the fed's pivoting. There's some economic recovery. And I started dollar cost average and I have a little bit less time, but I get it way cheaper. That's cool too. And the third option is, I don't think it's gonna happen. Everything just starts taking off the moon. Now, I guess I could, but who knows? I don't think so. Oh, it says 30 year mortgages are scams. You get 50 years less. Well, that's true. If you look at the amortization table, you can tell just how much you are paying over those 30 years. It's a lot of money. Let's see. Rob, will you add me on Sweatcoin? Just added you this morning. I appreciate you sharing this free. Sure, you know, I gotta figure out a way. I've talked to those people too to see if I can put it in. Also, well, first of all, if you're a Sweatcoin user and I haven't followed you, put your username in the live chat and I will follow you moving forward. I can't follow everybody because, you know, we get like 50 to 100 signups a day and I have to do it manually, which sucks. But just let me know. Again, there's a link in the description. Ah, so, which looks like this. Here's all the links. Looks like this. And there's two. One is that S-Miles app, which gives you Satoshis for walking and it's free. And then when it's Sweatcoin app, which gives you Sweatcoins, which is also free. You don't have to get an NFT or anything like that. And there's the link. And then I also have it here on the, there's a, let me show you. Everybody know, I mean, most people know. Here's the website. Dan teaches crypto. And like I was talking about, you can find everything you really, I mean the basic stuff, right? Like how to avoid scams, what's a crypto wallet, all the good stuff. But I just put in our Sweatcoin and how it works over there. So have fun with that one. All right. So yeah, so Elliot, just put in your username and I'll follow you. Any thoughts on their Hbar? No, I think it's, when I looked at it, it's a pretty advanced crypto. The big question is, will it get adopted and how fast it's going and how many transactions is it doing? That's the big thing. But it looks like a good project. Don't really know everything about it. What was the Apple news? So the Apple news was just this, the earnings report comes out. Earnings reports come out. Mostly it's tomorrow. You got Microsoft, Google Visa. That's on Tuesday. On Wednesday, you got Facebook, Qualcomm and T-Mobile. And on Thursday, you got Apple, Amazon, MasterCard, so on and so forth. So that's the big news. And if they missed their earnings report, just expect for a big decline. And remember, there's been a lot of layoffs in those big companies. So not all of them, but it's happened. That's right. Yeah. And Hypertex has a mix of great point. LMAO or not listen to YouTubers. Don't listen to people like me. I am not a financial advisor. You got to, even the things that I say, you got to verify that because I could be lying right to your face. Good. I could not even be here. And this might actually be a real pool. So just be aware of that. KapoKan says, Dan Degen is the better channel. It's for the, I have a second channel. It's for like the risky plays. That's if you just want to lose all your money. It's super risky. If only there were rules that had to trust no one, trust nobody. I don't care if your mom texts you and says, hey, what's your password for Coinbase? She's a scammer. Yeah, I need to work on that. Yeah, I'll be good. All right. So let's see. Really? CZ followed the defamation against Bloomberg. Was that old or new? I don't own anything. Me and my wife own things in El Paso. Remember, what's yours is mine and what's ours is mine. Yeah. Rob, you bought Avalanche last summer for a cheap price to the same as June. Yeah. You know what else is crazy? Is that in 2017, I remember buying Bitcoin at 17,500. And guess what? In 2022, it was the same price. So I'm gonna think about, if you think it's a get rich quick scheme, I always laugh at that one. It's not. Tell a story about your time in Fort St. Houston. What's great? That's where all the medics go with the train. All the medics and the nurses and the military and our four medical services. Usually, unless they changed it. And I was there for a couple of years. It was a long time ago. You try Pi Network? No. What happened to CJ and Alex? I'm not sure. I could be. Oh, look at that. Tiffany says, thanks, Rob. I'm out listening to you and using sweat coin and S-Miles right now. If you talk about it, I'm telling you, I don't know why people don't use it. I think a lot of people do. Okay, great, fine sweat coin. Between 17K and 17K. Exactly. I'm still willing to met a coin. Ooh, that's a good point. Where'd this go? Gary says, I don't think Apple's dipping this week with their new sales of the M2 MacBooks. Interesting. Well, I hope you're right, Gary. That'd be awesome. Gary, read back. Backing tracks is actually Gary Gensler. I knew it. All right, buddy. So that is it for today. Look, a lot of things are going on. I'm going to interview the gentleman from Satoshi Island. I just, I looked at that project. I'm like, it's actually like a friend of a friend. It looks cool. It does, but I'm like, that's a lot of infrastructure to do. How are you going to do that? And that's how I'm out of time. So I don't know. We'll see how it goes. Anyhow, everybody, if you give me a favor, just one thing, just hit the like button. You don't have to subscribe. You know where I'm at every day. I'm here every day. But the like button is like the big thing for the algorithm, I guess, for YouTube these days. It always fluctuates. So please do that. That would help out tremendously. And that's it. So look, thanks everybody for stopping by on a Monday. Let's see how this week pans out. Just to be aware of this, there's multiple options for everybody out there. And you don't have to just buy dips and diamond hands and all that nonsense. Just take it as it comes. That's it for today. So thanks so much for stopping by. I appreciate everybody. And I'll see you in the next one, which is tomorrow. Adios.