 Phew great everybody welcome to the live stream. So today is the thumbnail and title suggest We're gonna take a look at regulations the good the bad the downright shameful So we'll do we'll take a look first at a nice little bill here from Texas senator Ted Cruz and Actually, it's looking pretty good. Also. We'll take a look at Texas and regulations as far as Bitcoin mining hint they're gonna be cutting back and there's gonna be more regulations put over there and Also, we'll take a look at the ugly in the downright shameful, which is the EU and Crypto regulations as they start to impose their will and lastly just to get off the top of regulations like about some good news Big news big names coming to play to earn gaming and then the very end will do a little Q&A five questions in five minutes So we'll do all that but first let's take a look what's going on the market So if you're here for the live stream welcome if you're here to catch the recording Time stamps below you can skip around already want to and then news takes about 10 15 minutes and then Q&A takes about five So let's jump in to it as soon as possible. So first of all, I want to say thanks everybody who showed up last night to the PR Meetup this is gonna be one of my last days here in Puerto Rico going back to Texas Saturday and we'll be there for a couple months and we'll be back in Puerto Rico But thanks everybody. I thought it was a good time got to meet some interesting people and we will do it again So Let's take a look at the actual market. So here's what we got a Little bit of red and not surprising right? I think that I mean, I think we're all used to this This isn't the big deal and yesterday I had said that we were pretty much sideways and you know There wasn't really much going on and of course people correct me the comments Which they are prone to do and told me all about tea fuel and Zillica and all those things. Hey, great You know if you're up on the market and there's something in there. That's going up. That's fantastic So but I'm not going to cover every single coin that's out there if you were holding Zillica and tea fuel Congratulations or whatever else came up great Just if we take a look at the top 20 we won the big winners today will be Solana up 7.6 Avalanche 8.5 and anything else that is kind of sideways a little bit lower and that's just how it is So remember if if you hear for diamond hands in the hold forever There is an alternative you can take little profits along the way Don't want that scary and that's what's going on in the market. Let's take a look at the first story and this was regulations and talking about regulations and what's going on I need to clarify some things because yesterday we talked about Some downright shameful rigs that are coming out and that's state regulators cracking down on Voyager also cracking down also on BlockFi and of course on Celsius as the cease and desist letters roll out Because they don't want us to have nice stuff That's what it comes down to like, you know what we don't like this all these Yield and getting all these things we think that we should slow down and we should stop that until we really get into it And people were on some people in the comments were understanding but some people said hey Rob isn't what isn't what isn't this what you wanted didn't you want a bunch of regulations to come forth? And so stop crying because this is what you asked for Let's back up. So this was I will link the video in the description This was the thumbnail itself and just to make things crystal clear Regulations and clarifications is is a wide spectrum. Okay, I think we're gonna agree on that So if if there's regulation, let's just take speed limits for example, right? We know in a school zone Normally we're not gonna put a speed limit of 75 miles per hour as kids are driving all the way through I think we can agree that's a that's a pretty good thing for this for the city or the state to do right first We have to decide though we have to clarify What is a school zone that will be important don't you think and then now also? There is one say one way to go well regulations as far as like speed limits go 75 miles per hour and school zones kind of ridiculous But if we put the speed zone the speed limits of one mile per hour That's just crazy and that's the problem with regulations first you have to define define and talk about what a clarification actually is Let's take the example of crypto. Is this a Security is this a commodity is this a currency? That's what I'm trying to get here Okay, because if we can know these things Then we can work our way around it. So when I talk about regulations I'm not talking about draconian measures where there is a big brother swooping in and watching every single transactions I'm talking about I'm talking about let's get a little clarification and let's move forward worked out Okay for the internet when law 230 was passed in the 90s. So That's just what I have now. Let's take a look at Some good stuff, right? So first of all Ted Cruz center 10 Cruz introduces companion to Emirates bill to exclude the CBDC coin. That's essentially what's going on here. So what do we have? The is right here is all about this Texas senator Ted Cruz introduced campaign legislation into the US Senate on Wednesday that was yesterday and Minnesota rep Tom embers bill Wants to prohibit the Fed reserve from issuing central bank digital currencies or CBDCs directly to individuals Why is that I give that a second? Emmer introduced the house bill on January 18. This is a while ago January 18th It is March 31st. The wheels of justice do move slow. I guess or the wheels of Senate moves slow Cruz's legislation could potentially speed up the passage or rejection of bill by allowing it to be considered in both chambers of Congress at the same time didn't know you could do that. Look at that Emmer said in January look Requiring users to open up an account at the Fed the Federal Reserve To access a US CBDC would put the Fed on an insidious path akin to China's digital Authoritarianism and this was actually a tweet that he sent out yesterday And it makes a lot of sense if you think about it the US is not behind China on crypto. They're not CBDCs are not crypto. So what he's saying is We're not behind We're doing our due diligence between all the things but CBDCs are all the wrong things CBDCs are not crypto Let me say that one more time because Thomas 100% correct CBDCs are not crypto or in the vein of what we what we believe the best attributes of crypto to be There are government surveillance tool crypto creates freedom. It doesn't destroy it. And there was a comment here And not this not to single anybody out. Well, it's just it's a person, right? And he says he or she or they I don't know it says not much of a difference here They are built on the same technology true and have ledgers Tom What is kept in the ledger all the transactions? You can't be pro-crypto Anti-CBDC for that reason. So let me just break this down real quick. There's a huge difference between a CBDC and a crypto currency or digital asset First of all, if the Fed reserve is going to be issuing this, it's not really a crypto It's not me it can be on a digital ledger, but that's a ledger of one. That's in the Fed reserve or maybe in the 12 different Different districts for the Fed reserve banks maybe so if you have just 12 individuals And they're all know each other and all can do those things all those Dollars that are actually put on that ledger. They can shut those down at any time as my friend We'll call Pete Pete will say yeah, well if your social score sucks We're gonna take that away, too And don't even think about protesting against the government because we'll stop all the money flow You know, we can stop the money flow. Where are you gonna do? You're gonna submit So on this regard you have to understand that if you just have a couple of different nodes It's not a big thing and they can shut things down. However, now let's take Bitcoin Let's fast-forward and take a look at that. There are I want to say over 10,000 correct me in the comments There's a lot of nodes That are all in the network that all have to verify the blockchain that all have to approve or deny of This cryptocurrency. So if you have 10,000 as opposed to like 12 or just one It's a lot harder to silence and to censor somebody and that's the big difference between CB DC's Cryptocurrencies and digital assets. Hope that makes sense and let me understand by that in the comment section So let's let's finish up here with the article itself. So Emmer also said that the Fed is not authorized to open up accounts for individuals because I mean if that's the case What's the point of banks? Cruises bill follows Monday's Democratic proposal in the House of Representatives to create an electronic version of the US dollar Not based on blockchain tech issued by the Treasury Department instead of the Fed this electronic currency Would be device based rather than account based. So that is it is not Positive but I do like up here where Ted Cruz is like, you know what? We don't need these things We need to get rid of them CBDCs are bad So when we talk about Legislation and people who don't get it. I think Ted gets it. I get I believe Emera gets it. So it's all about education. Hopefully we can move forward So there is an example of some good regulation. Oh, I think we can all get behind Let's take a look at something right in the middle and get down into it. So that would really mean to my next point Texas and Bitcoin mining. So this was a An article just came out yesterday as well crypto miners in Texas need approval to energize A new grid hurdle and when I read this, I'm like, this isn't good But then when I did read I'm like, okay, this kind of doesn't make sense. I'm gonna ask for your input. So Texas My great state has started requiring new large-scale cryptocurrency miners to seek permission To connect to the state's power grid in anticipation of a flood of requests Expect the drive-up electricity demand. So first of all, if you're reading this, you're like, how dare they ask anybody anything They should just be able to plug in and go. It's not so simple. Check this out. So The Electric Reliability Council of Texas is required requiring utilities to submit studies on the impact of miners And their large users tapping the grid before they can get approval to energize Urquhart members voted Wednesday for to form a task force to protect the grid from being Overwhelmed the move is a reaction to a surge in electricity demand expected from crypto miners this year and next Texas regulators are grappling to understand how miners will tax a grid that has had its vulnerabilities exposed During a deadly winter storm last year. So that's just it. So if you're not forgot already there was a pretty big storm that came through Texas and and it's Was a problem for the power grid to actually stay up kind of like Puerto Rico's power grid except they had the problem with hurricanes Actually, they just have rolling blackouts. What are you gonna do? So the problem was it was either bad infrastructure or just couldn't handle the demand. I keep getting conflicting reports I hope that it's just a problem with the infrastructure They can fix that and not an excess demand, which I think people were talking about. However, regardless, there is a point here If you're gonna have There's a couple points actually if if you're gonna have a ton of different miners come from China Kazakhs down there's got booted out of there and different parts of the world were like you can't do this here And then you have a bunch of them come to Texas. I'm happy with that I'm good with that But let's say you who are in Canada or in Mexico or an EU or in Australia Are you okay with having 80 90% of the miners in America? Let me know in the comments So there is that Issue apart and the next issue is if we have a ton of different miners coming in and it does put a stress on the grid Well, how's that gonna work out for the different people in Texas and we'll get to that in a second. Let's finish up the article. So Crypto miners seek to add several gigawatts of demand this net this year and next which poses a challenge for a grid operator Typically gets a head up several years in advance from additional industries and this is from this quote is from Lee Bratcher President of Texas Blockchain Council He says we are entering into a dialogue with ear cut now To ensure that this does not cause any delays for the Bitcoin miners And here's the problem with setting up regulations now again 5050 shot crypto firms are already being affected Bitcoin miner Cormont received an haircut noticed Tuesday there's project outside of Fort Stockton was throttled back to 25 megawatts and This was from the CEO James Mechavity nailed it. He says I hope we have enough time to get clarity So it doesn't derail the investment if it takes three months It will kill our project and that's a problem for job growth And that's also a problem for the senators and representatives in that state because that's what they're trying to do a Miner with several servers on hand in an ideal location could be up and running within a couple of months Unlike the years it takes for a company to build a factory and any project that will add 20 megawatts of demand on The size of a generator within the next two years will have to undergo this review process again Regulation so here's the question is this regulation just or should they just allow anybody who wants to come in and then figure It out later Will there be a big drain on the actual infrastructure or the power grid that is Texas? Something to ponder here's something to kind of help you. I guess piece that out. So when they talk about air-cott air-cott, let me go up here Is the electric reliability council of Texas and here's where we get all of our energy This is their energy mix 2020 if you're if you worry about the ESG compliance and issues like that 45% of natural gas 20 almost 23% is wind 18% is coal and someone wrote in to me and said hey Rob It's not dirty coal like it used to be there is a lot more standards in place And we try to keep this this dirty part to a bare minimum Also, 11% is nuclear 3% is other and I'm sure there's a big influx of solar So we take a look at this well, that's not too bad Why don't we just increase a part of it before we get to that? Let's take a look at the actual energy usage So just so you know The usage for Bitcoin and this is from this is not just from like some round This is the University of Cambridge. They take a look at the electricity consumption index just so you know, so It takes 22.3 terawatts to power the Bitcoin Blockchain this is the energy production 0.3 So it goes from energy whatever that is to hydroelectric to nuclear to consuming an electricity go this way And then just you know terawatt hours per year 137 is Bitcoin gold mining the hundred 31. What do we get out of that? I know people will say but you know your phones and your computers and they use a little bit of gold Is it that much? Is it can we find a replacement for that at some point? I don't do I don't even wear I don't know how many people were gold watches. I just don't know But I don't think we needed that badly, but that's just me Gold's got a place. I'm not hating on any gold bugs. I own gold silver Bitcoin. So Sound off in the comment section be a keyboard warrior. I could kill it. I couldn't kill us. So then as far as The actual consumption Bitcoin here is 138 terawatt hours TVs in the US 60 paper and paper and pulp is 586 iron and steel 1233 chemicals copper fridges. Jesus fridges in the United States is 104. That's weird All right, and then there's this one right here called loss and waste There's a reason why I told all this all this to you So there's this middle part right here global gas flaring recovery potential and what the talk about here is If we used all the gas flaring It could power the entire Bitcoin network five times over. Why is that important? It's important because of this reason because the Exxon this just came out of March 30th is selling its gas leaks to Bitcoin miners as Electricity here's the story quickly Exxon mobile is running a pilot project Where it sells industrial gas leaks and energy from Bitcoin farms? Ordinarily gas leaks which occur when oil field drillers prick a natural gas reservoir burned off as gas flares As those are the curious jets of flames that eliminate the fields Exxon like many other oil producers has pledged to eliminate Routine gas flaring by 2030 and what's a great way to do that? well sell it off to the Bitcoin miners and that is a way to do all these things so for take a look at this story Right now. I think it's a pretty good idea to get your ducks in a row and go look if you're gonna do more than 20 terawatts Or whatever the the criteria was you're gonna have to go through an approval process as opposed to This is the problem as opposed to having all these miners come in set up all the shop and then they realize whole smokes We have just lost a huge amount of drain on the grid. Where's this coming from? Oh, it's coming from this and this isn't also Bitcoin miners. We'll shoot. Maybe we should have set up a little bit of regulation first And go down this route again This is one of those that are in the middle of the road So the first one with Ted Cruz totally agree CBDCs don't need them the second one's the middle of the road Let me show you an example of once that's kind of trash and this will get into the downright shameful to my last point EU and crypto right so take a look at this one EU lawmakers set to tighten up on crypto transfers You're not gonna like this So the EU law makers were set on Thursday to back tougher safeguards for transfer of Bitcoin or the cryptos crypto exchange coin base Has worn the rules would ask you on a surveillance regime that stifles innovation just like what the CBDCs under the proposal crypto firms such as exchanges would have to obtain hold and submit information on Those involved in all transfers that would make it easy to identify and report suspicious transactions freeze assets discourage high-risk trans transactions said ever since earnest Virtus son Spanish Green Party lawmaker The Commission had proposed applying the rule to transfers worth a thousand euros or more so about a thousand bucks or more, but under the new agreement this would mean all Transfers would be in the scope so every single transfer that is done gets reported to whatever governing body So they can probably approve or deny what it is So I thought this was funny this next part here because those rules mean crypto firms must collect and share data on transactions That's every single one every single one and the reason was an Exemption for low-value transfers is not appropriate as crypto users could dodge the rules by creating an almost unlimited number of transfers That's why they scrapped the thousand dollars or more because they said well Why don't just people just do ten dollar transfers or ten dollar transactions try doing that in Coinbase? It'd be super expensive Coinbase chief legal officer Paul Rewall said in a blog a Monday that traditional cash not crypto was by far the most popular way To hide financial crime. So I hope that puts things in perspective as far as regulations go There's good regulations things that could actually clarify and go, you know what this is an actual security This is an actual currency. This is an actual commodity as opposed to just Or getting rid of CBT as opposed to just saying, you know what every transaction we need to scrutinize We're going on to approve or deny running with it. So there is a spectrum As far as regulation goes I think and I still say this says before I'll say it again I still think we need a little bit of regulation a little bit of clarity to see exactly where we can possibly go because right now If we had clarity I guarantee ripple wouldn't be where they're at right now They would probably be at an all-time high. They would be basking the Sun all those XRP holders would be pretty damn happy Unfortunately because there's no clarity and they brought them forth now. They got to deal with this nonsense And I think unless we get until we get clarity. We really can't move forward. That's just my two cents sound off in the comment section Let's finish off with a really quick article Played around gaming which I think is gonna be pretty big. So I thought it was interesting because Played around gaming. It's it's kind of controversial, especially with traditional gamers. They just don't They're warming up to I still don't like it. So blockchain gaming firm across the ages gets 12 million from who big names So blockchain game developer across the ages said Monday It had scooped up 12 million dollars in a seed funding round that includes some of industry's heavy hitters Cross the ages free to play in our metaverse gaming platform So funding from Ubisoft Ubisoft Ubisoft and Anamoka brands. So Ubisoft is Fortnight and Anamoka brands is Axie infinity. So those are pretty big. Those are like traditional. Well Fortnight is free to play and they're one of the fastest They were the fastest game to reach a billion dollars. I think it was in 2019 They were free to play game made a billion dollars. How well they squeeze their players and they haven't buy a bunch of stuff and Anamoka brands of course everybody knows Axie infinity Sebastian Borgut co-founder and chief operating officer of Sam box as well as polygon all-pitched in the blockchain network of the game is based on Also participate in the round the game is garnished social following of almost Half a million the firm itself has a growing team of a hundred forty seven the artists and they've they've pulled people from Titles like Game of Thrones Star Wars all the rings Harry Potter. Why is this important? Just important to kind of see where things are going because I got to tell you if you've got this much talent And you've got these big huge brands behind it They've probably done their due diligence and research and really it's just how big it's gonna be if you want to follow I'll link this in the in the description. Here's cross the ages. That's the game. It just was an interesting story so that concludes everything for the news took about 20 minutes or so not too bad and Lastly, I will just say this we are doing the DC a show Usually it's me and then from into the crypto verse and also James best answers Then is traveling I think it's gonna go to the he's traveling around I think went to Florida for the Bitcoin conference F fun So we got my man CT Larson in in as a guest guest spot So check that out It's gonna be like another hour and a half or so and that is it for the news if you got time stick around let's do a little Q&A and I'll answer all your burning questions. If not, thanks for stopping by Thumbs up if you liked it thumbs down if you didn't for the thumbs down buttons broke and leave a comment before you go All right, let's take a look what we got. Ah Thank you. Thanks for stopping by man Everybody loves CTO No Chris Larson variables not gonna be there CTO Larson I'll win. Thank you. Let's see Yeah, the yard is looking good. Well, we're getting everything ready because you know We're taking off for a couple months. You know what that means this house is getting rented on Airbnb because that's the whole thing I don't understand like if you have an asset It's not doing much for you. Why don't you just rent it out? So I don't see why more people don't run out there. Well, I guess I can see it Some people like people stay in their house, but for me, I'm like we can make a lot of money. So let's do that You James and you James and CTO should do the rapid that'd be the lamest rap video of all time. Let's see This is a good question Do you think SLP part of Axie ecosystem will get caught up in the crossfires the run and bridge hack on Axie that hack It was all about bridges. It's a makes you realize just how Hackable things are because wormhole was also a bridge, right? So first of all, I will say this the team at Axie Infinity They've came out publicly and say we're going to reimbursed Everybody that's 600 million dollars that was lost. We don't know how we're gonna do it, but we're gonna do it So I think it's interesting to see how it goes. So the part of the ecosystem will get caught up probably because You have to understand Axie Infinity over the last year made 1.2 billion dollars That was the revenue or that I think that's what they actually pulled in and 600 million just got lost So you just lost 50% of all your revenue. So part of that part of those funds probably were supposed to go to Development research all those things. So if you're talking about ecosystems for growing It's pretty tough when you just lost a ton of money But that's what I think about it. The big thing though is will it happen again? The answer is probably yes All right. Yeah, we saw it makes assassins Creed Assassin's Creed was it? Yeah Obviously on a big game Good question question number two. Does your dog trail back and forth you both dogs travel both back and forth with us? Dammit Tyler said it fortnight is by epic games. Well, I was close It'll be soft assassins Creed. Well, shoot What else? Put about a dozen cameras cameras are going in right now matter of fact Right now Mmm, this is a great question. What do you think we should take some profits from Zillica? I don't think it'll rally So I will just say a general blanket statement is not investment advice. It's investment opinion but if I put in a $1,000 into Zillica and it had Grown to $2,000 worth in Zillica. I would probably take At least a thousand bucks out maybe 1100 maybe 1200 and just let the rest ride Maybe it's you know, takes off like crazy and go from that that way I don't have to worry when the next dip comes because guess what we know what's coming So that would be the best way to do it or just take a little just peel a little bit off and just go from there Again, everybody's goals are different. Some people, you know, if you're like in your 20s Young kid and like, you know what I can just let it ride for a while Let it ride. Let's see how it goes But it never nobody ever went broke taking profits, but it does minimize your overall gains. It's the best I can say Lucas Bradley I said chain link wouldn't be in top 10 in a year. I almost got murdered There's a there's an inflation issue with chain link. That's not problem. Good to see again Lucas I'll see you when I get back man. Good times. Oh, yeah so Bullish in the news that strike an apple may have a deal could bring an attendant could I Try to stay away from those those stories because how many stories have we heard about? Walmart and litecoin Amazon and amp Bitcoin and Walmart Ethereum and what I mean, we just hear all these stories all the time and it's it never It doesn't materialize concrete-wise, so I like to just kind of deal with what we know And I try not to speculate too much unless it's an investment So I don't know. I mean if it is true, that's great. I think it'll help out a lot No, we'll see I know people always they're always telling me like how great it is that This state or this city or this county is now accepting crypto to pay for taxes And I'm like who's who's using their crypto for taxes? I mean in all honesty, I can understand if you use payments for or use crypto for payments because maybe you're in a region that maybe got sanctioned or Maybe your your currency your fiat is rapidly declining in value So you have to use it. I get that but if you're like in the US You're like I can't wait to pay my you know my property taxes and Bitcoin. I don't know So there's a good question still confident in keeping your cash in USDC on Voyager So this would probably go back to the story that we had talked about yesterday Which looks like this State regulars crackdown on voyager digital crypto interest offering. So here's the thing I have no problem with with voyager I do think they're gonna work with the regulators like Steve had talked about and they'll be and they'll come to some kind of Conclusion or agreement just like BlockFi. I don't think it's an issue where The state's gonna come in and confiscate all the cryptocurrency the worst that can happen Which would really suck is if they come in and go and say shut it all that shut all down any of this crypto interest You're not gonna do this until we figure this out. That would be the worst-case scenario They're not going to not allow me to take out my crypto But I won't be able to gain that sweet 9% yield on USDC because you know, they want me to put it in a crappy bank where I get point zero one two five percent And that's it. Oh and also I know people yesterday's comments are like Rob so naive. He doesn't realize that the states He doesn't realize that the states work for the banks or the legislative body okay, so Yeah, I know I even talk about I haven't even brought it up. It's just the thing is is That it really just depends on On the prospect of what it brings to you, right? I can I'm gonna go back to Ted Cruz here, right? So some would might argue that Ted Cruz works because he's a senator that he works for the banks So if he works for the banks, why would he be going against the CBDC? Well? Maybe it's not in his best interest To talk about CBDC's Maybe there's another Organization or group that may be talked to or maybe he totally believes in it. I have no idea So when you're gonna make a blanket statement about like, oh, well this this States legislative body must work for the banks because they're doing this way or this person that maybe I don't know But it doesn't really matter in the long run The only thing that matters that really really comes down to is where is the price going and what are you doing? To get around it control the things that you can control and don't worry about the rest That's what it comes down to all right Ah Voyager I was being nah, I still like Voyager. I do Not $30 price prediction wasn't so great one from 29 cents to seven bucks and I went back down to bucks dollar 50 Didn't work out. I also said Bitcoin going 150,000 didn't work out either It's the one to 69,000 a theory. I was going to 10,000 went to like five. Yeah, didn't hit those So I don't do if I do price predictions It's a wide range So like today like I'll give you my price prediction for for Bitcoin this year Bitcoin will be somewhere between $20,000 and 112,000. That's my 2022 Bitcoin price prediction. You're welcome. Ah I think that's it. Yeah, I think it's sure Okay, I did my job no more questions. All right. So look let's sit for today So I want to say thanks so much for stopping by appreciate it You like today's video give it a thumbs up or thumbs down doesn't matter. Ah thumbs down things broke But I'll see you later today. I will be doing the again the invest answers CTO Larsen and myself DCA show in about an hour. So we'll see you then you know, that's it for today Thanks so much for being here and I'll see you on the next one. Adios