 Hmm. Great. One visual asset news. My name is Rob and we got a lot of things to go over. So let's just jump right in. First up, we're going to talk about the markets and what exactly is going on. Talk about minor selling, fair value and inflation has it topped. I don't really think so. Plus we're going to talk about real quick that there's no more super chats because I think they're kind of worthless. Then we'll get into my rules, which is the reason why you're probably here because of the description and also the thumbnail. And then lastly, we're going to talk about Solana, the platform versus Solend, which is the DAP and which one is actually in trouble. And then lastly, we'll talk about the metaverse sucks. And really, it's like the early days of the internet. So we'll get to all those things. But first, let's take a look at what's going on in the market. So today is just one of those days. Everything's going sideways with a little bit of loss. And you know, 1.6% you see something like this, like this, not too bad, actually. I mean, we've seen a lot of things which were where I would say much worse. But so I'll take these numbers today. It's funny. We take a look at some like 1.6 or 2% down like, wow, that's a win, because we've been getting kicked in the teeth last couple of days. And that's just what it is. So market cap remains under 1 trillion. We are just a multi billion dollar asset class. It's kind of boring. 4.6 and 4.4. So what's going on? Well, I always talk about correlation. So we take a look at what's going on in the market today. S&P 500. Actually, it says June 17. And today is not June 17. It's June 20. Also NASDAQ is also June 17. My refresh it won't matter. It's because today is Juneteenth Day here in America. And Juneteenth, you don't know, is a federal holiday in the US commemorating the emancipation of enslaved African Americans. Juneteenth marks the anniversary of the Mountain of General Order number three by Union Army General Gordon Granger on June 19th, 1865, proclaiming freedom for enslaved people in Texas. And of course, question that you might have is, well, when did that become a national holiday? Well, guess what? That was by Joe Biden. That was signed on June 17, 2021, just last year. But did you know that Texas became the first day in the country to make Juneteenth a paid day off in 1980, a little history lesson for anybody who cares. So that is why the markets are closed today. However, crypto never sleeps. And what we have today is we can see that we're taking a look at crypto quants, so for the on-chain data, we can see that miners, looks like, I'm going to blow this up so you can see it, you can't see that. Miners are actually selling off a little bit. And we know that it's going to happen, especially as the price of Bitcoin goes down and the energy doesn't seem to ever want to go down, as far as price action goes. So you got to keep the lights on, you got to pay the bills, and you got to do that in some way, shape, or form. And, you know, if you've listened to like a Michael Saylor, he'll say, well, let us take out loans and let us pay off against it, and they'll never sell again. Well, that works pretty well on a bull market. Trust me, I know. I liquidated on my own loan. And this is exactly what happens. So right now, a little sell off. This was concerning on the 16th of June. Now here we are on the 20th. And there it goes again. So is that a big, big deal? Not really, but it's a sum of all parts. And then also, the thing that I like to look at is, well, there's a couple of things. Bitcoin exchange reserve, all exchanges, looks like there's a little bit of an uptick for Bitcoin as people move it around, and they're trying to sell and do their little price action and day trading. Good luck with you guys. Ethereum remains study. A little uptick as it comes in. And then estimate leverage ratio. Surprisingly, let me blow this up. This is, I didn't even see this. It is down. Amazing. People, maybe they got wrecked, made it and figured it out. Maybe they just like, you know what, maybe going $2,500 isn't the best thing for my portfolio. So wow, look at that. 0.24 estimate leverage ratio. That's great. That means it's down and I'm happy because I just don't, I don't think leverage is good for anybody. Unless you're, I don't know, some kind of Zen master out there that can figure that all out, but I think it's dangerous for most people. And we'll talk about why. And then lastly, the market value to the realized value ratio, which historically values over 3.7 indicator price top and values below one indicator price bottom. And just so you know, the latest value is 0.90. So this could potentially equal a price bottom. Me personally, I don't think that's true because even, even this isn't correct. Actually, if you go back down here, you can see that actually the, the ratio market value to realize value back in the, well, early, early days, 0.47. So it wasn't really worth that much. And over here, this is in 2015, 0.67. Now, it hasn't hit anything low like that since December, 2018. But look at this, 0.71. And even in March 2020, when there was that thing called coronavirus, remember that? Yeah, I do too. It was 0.92. So could we go lower? Yeah, possibly. And actually, I think we actually will and I'll tell you why in a second. And actually, if you take a look at Ben's website, fantastic website, link in the description, non-affiliate link, just like using it and showing you what's up. We've got a, the trend line, total crypto market cap and trend line. We can see here, as it goes along on a continuum, we can see that. Let me blow this up so you can see it. This is the fair value, 1.65 trillion. Remember those days? Ah, they're good days. And actually, it should be like 1.77. We are well below that. The total market cap is 900 billion. And the lower band is 530 billion. Not saying that it will go there, but it has gone there in the past. So don't be surprised if we go lower or if we go higher. Who knows? Every time I think I know exactly what the market is going to do, it says, sorry, Charlie, I'm going to do the exact opposite. But one of the big things that people always talk about is inflation. There's a great website. I like everybody to check it out. Links in the description, app.trueflation. That's T-R-U-F-L-A-T-I-O-N dot com. And what I like about this one is that it uses 30 different data points and it also uses chain link. I think you might have heard of that to gather outside data. And we can see that it was doing pretty good in all honesty, March or February, March. And then of course, the Fed's coming out and going, you know what? We're going to monkey around with some rates. So we'll be okay. And of course, it drops a little bit. That's pretty good. 10.666158. And we're right back up again to 10.92 or 11%. What's cool about this is you can break it down by where all the inflation really is coming from. So if you take a look at housing, I don't know if you've heard about these stories, real estate and such. 12.25%. Transportation, 17.3%. Utilities, 12.4%. Health is actually very low. 3.9%. Household Durables, alcohol and tobacco, that's good. Clean communities, communications, education, nothing. Recreation in college or five. So this is the big stuff. Utilities, transport, housing. And that's where we have inflation. So if you think we think, well, it's going to be okay. It probably will in the long run. So I don't see it. I don't see the narrative fitting with what's going on. And also a bigger indicator might be this. This is gasprices. AAA. This is just in the U.S. Wherever you're at. I'm sorry, I couldn't find your everybody's country. But we're looking at just below five, which is pretty good. But I wanted to bring this to your attention a year ago. We were at three bucks. We were at $3. Remember those times? Remember when three bucks was expensive for a gas? Not anymore. Now it's, remember when it was below four? And pretty soon we're just saying, hey, remember when it was below six? And that's what we got. I know people will talk about, well, the oil prices, but in all honesty, oil prices peaked two, three weeks ago, and they're still super high. But that's what we have in a nutshell of some macro, some crypto, on-chain analysis. Now let's get to the big show. Me. I shouldn't say like that. That's kind of what it is. So the rules. And you have to understand something. I made these rules. I've been talking about these for about a week or two now. And it all kind of came to a head because everybody believes they're a genius in the bull market. And they may be. But it seems like there has to be some set of principles, something in place to safeguard just a little bit. And I'm not talking about regulation. Even though personally, I think we should have a little more regulation come in to define what is a security? What is a commodity? What is a currency? And of course, what exactly could be backed by a stablecoin? Just the small stuff. But as far as the mentality of where we're at, I talked about this yesterday. I get emails and DMs and messages about, hey, Rob, I blew all my savings accounts and everything I say it up for. What do I tell my wife? Hey, Rob, I took out my kids savings account for college and it's going to be kind of tough to tell them. Other people like, hey, Rob, contemplating suicide because of the things that are going on. These are real stories. And I'm tired of them. So what I'm going to do is you can see it right here. The rules are on the bottom left hand corner. And I'm going to leave those there. Now, these are just the rules for me. My goals are not your goals. But I think this is going to keep me out of as much trouble as I could possibly get into. And I think that it might help you. But of course, feel free to alter this in any way, shape, or form. So let's go over the first one. It's all gone. The reason why I say it's all gone, it's because if you can think to yourself of any you're going to invest into, you should never invest more than what you're going to lose. We all know that, right? So I think to myself, if I got 20 bucks and I go, okay, I'm going to invest this in a Bitcoin, but I should just kiss this 20 bucks goodbye, because it's going to be gone. I'm not going to get any kind of gains from it. It's not going to work out. And I can be okay with losing it. If you can say that to any trade or any investment or any type of thing that you do to get into a certain position, you'll be okay. The flip side is this, okay, well, this is my life savings. If this goes away, and it's all gone, I'll be okay with that. If that you get palpitations or you flinch just a little bit, then that means that you shouldn't invest into that. And if I can remind you and people say, well, why put this out? It's because it's the same thing as marketing. If people don't get this drilled in their head, and I'm just going to leave this here and probably not talk about it too much later on. But I think people can say, oh, yeah, that's just, there's this thing, there's this thing. It's the same thing as like trying to get in shape. It's the same thing as like trying to better yourself. It's the same thing as, you know, trying to invest. It's just the consistency and going over things again and again and again. So hopefully at some point, this might actually help somebody. I don't know who it will be. And that's it. The second one, 100% scams. Rob is a scammer. Rob, digital asset news is a scammer. So if digital asset news or Rob ever contacts you, you know it's a scam. Because first of all, I will never contact you on telegram, on any kind of social media platform, unless you follow me and you send me a message directly. But I don't have time to contact you to tell you about this great opportunity in a trading school or whatever else that I got. Or I don't need you. I'm not going to contact you to get you on to my show or something stupid like that. I get 10 to 20 ridiculous requests per day in email or DM or some other goofy places. I will never contact you. I do not need your help. And that's just that part. Also, if anybody contacts you via email, it's a scam. If anybody contacts, if your mother texts you and says I need your Coinbase account, that's just everything is a scam until proven otherwise. If you live by that motto, you're going to be a lot happier. And that's just, that's how it goes. And the third one, no exchanges, 0% exchanges, this one's a little murky. And I'm going to tell you why. So we saw what happened with Celsius. We saw what happened with, I mean, the different various hacks on exchange, like the Mt. Cox being the most, most famous one, the DeFi projects that of course, of course those are DeFi, but they're still exchanges. So I'm just going to say like this, I don't have time to tell everybody, okay, this, this exchange you can leave on. And then, but you know, like, like this, like Coinbase, don't leave it here on Coinbase or Kraken or crypto.com or Binance, but it's okay to leave it on this one and this one. But sometimes in this one, I want to get away from this and make it as brain dead simple as possible, 0% of exchanges, those caveats. So if you're going to do limit orders, it's kind of hard to do our limit cells, limit cell orders, it's kind of hard to do that if you don't have anything on the exchanges. So that is up to you to decide how much you want to leave on an exchange. I will say this, never leave any more than 3% of your entire portfolio on any one exchange. I put that in Celsius and that right now is locked up. Well, I get it back, I think I will, but it's going to take some time. And is it okay for you to put 100% of everything that you have on one exchange and it gets, first of all, if you lose it, it's gone. Or if it's going to be, you know, taken back, maybe it takes six months, 12 months or 18 months, are you okay with that? Or if not, maybe just say, you know what, 0% of exchanges. And it's not like I'm saying, you know, this, they're all bad. Some are great, like Voyager. I love Voyager. I love the people. I invest in people. And for some of these things, like my VGX tokens, it wouldn't make any sense for me to take, you know, all those VGX tokens off because those are the rewards that I get for all the trading discounts. So again, there's like little caveats and things to do. And I will say, like if we're talking about that, there was this article just to pull it up. I thought it was interesting what they did. Voyager digital signs term sheet for 200 million bucks and 15,000 Bitcoin revolving amount of credit. The company, just so you know, pursued this term sheet concerning the current crypto market conditions. The proceeds of the credit facility are intended to be used to safeguard customer assets in light of current market volatility and only if such use is needed. The term sheet with Alameda Research provides for revolving term credit facilities, each having a term expiring December 31st, 2024 and having an annual rate of 5% payable on maturity. The first credit facility is a cash USDC based credit facility with a principal of 200 million. The second credit facility is for 15,000 Bitcoin. Voyagers has more than 200 million on its balance sheet. So even if I'm saying this and how great Voyager is, does that mean that it escapes the rules? It doesn't escape the rules. It's still what it is. And I'm not saying that don't use exchanges. Obviously, if you want to buy and get into crypto, you need to buy it somewhere. I'm just saying don't leave all of it on the exchanges because it's a recipe for disaster. And then also, on the flip side of that good story that I read, and this is just so you know, don't get married to any one place or any one investment. That's also another disaster waiting to happen. And here's something to consider. This was an email that I got this morning. And I need everybody to understand why this was put out. Reminder regarding sanctions. As part of Voyager's sanctions compliance program, we periodically remind customers of their obligations to comply with US laws. Voyager customers are prohibited from sending funds to receiving funds from or otherwise transaction with parties identified by OFAC, especially designated nationals or any other restricted parties. This means you can't send or receive anything from anybody who's from Cuba, Iran, North Korea, Syria, Crimea, Donstik, nailed it, and launch regions of the Ukraine. Any attempt to transact or otherwise use a Voyager account to deal with any such party is a breach of the Voyager customer agreement and may result in suspension and closure of your Voyager account. And if warranted referral to US law enforcement authorities to determine whether civil or criminal penalties may apply. Why do I read that to you? I read it to you so you understand that they have to protect themselves, just like you have to protect yourself. So I applaud Voyager for what they're doing. They can't deal with that. If the banking law, if the powers that be, the regulations, the regulators come down and say, hey, you've got customers who are transacting in these countries that are sanctioned against, what happens to Voyager? They lose their license. And that just goes away. So they have to do that. And it's up to you to do those things to keep yourself safe. Does that make sense? Okay. Or maybe it doesn't. Tell me in the comments section. And then to finish this up, no leverage, no leverage. I don't care if you short or long or whatever you want to do and trade, that's great for you. But for me, and actually, for all this stuff, you can do whatever you want to do. But for me, this is the things I'm going to do. There's no reason for leverage. There's no reason to go 25, 50, 100X. And look, if you don't believe me, and you think, wow, I can do it, it's okay. I want you to listen to this guy, Anthony Pompleano. He had a really good minute and a half snippet of information. And he talks about, this is the fastest way to go broke. Let me share my tab so you can hear what he says. Let me mute myself. So there's no echo. Take a listen. It's about a minute and a half. There's financial carnage everywhere. Asset prices are falling off a cliff. And a lot of people are asking, what's the fastest way you could go broke? All of the investing titans, they all agree. There is one way that is the fastest way to go broke. And that is leverage. Don't take my word for it, though. Let me tell you what they've said. First up, we've got Charlie Munger. He says, smart men go broke three ways, liquor, ladies and leverage. Then his partner, Warren Buffett, following it and saying, now the truth is the first two he just added, because they started with L, it's leverage. Then we can go and we can take a look at Seth Claremont. Almost every financial blow-up is because of leverage. Next up, Howard Marks. In addition to magnifying losses as well as gains, leverage carries an extra risk on the downside that isn't offset by accompanying upside, the risk of ruin. And then last but not least, Ray Dalio coming in and saying, using leverage is like playing Russian roulette. It means that you are inevitably going to get a bullet in the head. Now, of course, using leverage ends up being a really enticing proposition. Hey, you can make way more money when things go up. But just like there's upside advantage, there's a massive downside disadvantage. And so making sure that you don't use leverage, especially if you don't know what you're doing, is an important component of learning about finance and investing. When the Titans speak, when the legends of the last few decades all agree, you should pay attention. The timeless investing principle of avoiding leverage to avoid ruin is an important one that many people are learning all over again in the recent price sell-off. Again, everybody's a genius in the bull market. And they'll tell you, leverage is no big deal, and you can get away with it. And you probably did. I mean, you probably could. You probably make a lot of money. But then it's just like when I lived in Vegas for two years, I'd always friend Pete. Pete, how'd everything go last night on the tables? I'm all mad. I'm up like 20 grand. It's a great night. It was a great night. You're great. Pete, how are you doing for the year? I'm down like 150 grand. But man, last night, 20,000 in the bag. Same thing. And again, I'm not telling you what to do. I'm just telling you what I see around. And I got to tell you the stories that you hear about the great leverage, everything else I hear just as many, if not a ton more, where people say, hey, you know what? I lost it all. So then the last one we'll talk about here is take profits. I think this is the easiest one to talk about, but it's the hardest one to do. And I really did a way better job of this cycle than I did in 2018. And the thing is the diamond hands talk and all the things about holding forever is great. And you can do that. And if you're here for like five, 10, 20 years, you're probably going to make up pretty well. But the thing is, don't forget to take profits on the way up. Nobody, everyone broke taking profits just a little bit because on days like today, don't you wish you were taking just a little bit of profits back in May of this year or even May of last year? Didn't you once you wish you could just go to sit, gone back and go, man, I wish I would have done that. So remember those times when the next bull run comes around because guess what? Even though we're in a crappy bear market, just a natural cycle and we'll see bull markets again. So that is my rules that I set for myself. I'll keep them up there. You're free to do with them, whatever you want to do, because I can't tell you what to do. That's just what's going to help me keep me sane. So let me know what you think about these in the comment section. And let's finish this up quickly because we're going kind of long, unfortunately. Solana. Solana, Solana, Solana. Solana, the platform, I should say, versus Solen, which is the DAP, which one's in trouble. So this is what happened in a while ago with Sunday Swap. Sunday Swap was the dex decentralized exchange for Cardano. And when it didn't roll out smoothly, everybody was jumping on Cardano and saying, Cardano sucks. And I told you it wouldn't work. It's vaporware and da, da, da. We're like, hold on. It's just the dex that is just getting its feet wet and they'll figure it out at some point. And it's the same thing here. I'm not here to jump all over Solana because one of their DAPs isn't working correctly. And there's some problems with whales. This is what we have going on right here. So New Solon vote invalidates governance decision, take over whale accounts. So LEND, the lending and borrowing pro counsel, first of all, what is this? Solend is an over collateralized lending platform on Solana akin to Ave. Users can LEND and borrow up to 46 assets. It is Solana's largest DAP by TVL and a stable network. Here's the thing, if you ever want to take a look at what the DAPs are, there's a great website called DAP Radar, link in the description. And it's free. You can check it out. So if you go here to DAP Radar, click on DAPs. It's got all the ecosystems right here. Here's Solana. And then he goes down here. There's Solana. There's Solend. And you're going to see it right here. Okay. So here's the market cap for their token. Here's the total value locked. And you got 251 million at press time or right now. And you can see right here that it used to be 577 total by a locked. And that was in May. All right. And you can see it's precipitously gone down because the value of what's been locked up has gone down. So that's just something to help you out, find the information. Trust me, because remember, everything's a scam. You can verify all this stuff. All right. So Solend, a lending and borrowing proffol as reverse yesterday's controversial doubt decision, take control of its largest user account. A new governance vote has passed that invalidates yesterday's move with 99% of the votes supporting the new decision. Here's what happened. On Sunday yesterday, the Solend team put up a governance vote, asking to take over a large user loan in order to prevent an on-chain liquidation event. An unknown user held 108 million stable coin loans. That's a big loan. I don't know what you do with 108 million. That's a baller. Collateralized by 5.7 million Solend tokens or 170 million on Solend. The proposal to mitigate risk from the whale noted that the user in question had 95% of the sole deposits in Solend main pool. Let me say that again. The whale had 95% of the Solend deposits in Solend's main pool. Again, there's a difference between the DAP and the actual protocol. Solend, the DAP, team claimed that a liquidation of this size on-chain was risky due to thin liquidity on the lending protocol, not a DeFi protocol, not doing so good. Further may the case that if the on-chain liquidation went through, Solend would be at risk of occurring bad debt due to cascading drop in Sol's value. The team suggested this, that rather than a protocol liquidation, the loan should be made an OTC deal. The Solend governance system then hurriedly passed a vote that gave the team full power to confiscate the user's position. This is the funny part. 88% of the voting power came from a single address. Let's see. That doesn't seem too decentralized. I think what people get ticked off here is they're like, see, Solon is not decentralized. It's not Solon. Solon's got their own issues shutting down and all those things. Trust me, I get it, but attack the right one. The governance decision received a lot of criticism from any commentators who berated the team for undermining the ethos of decentralization. So they said, hey, all right, this doesn't look good. The optics are bad. Let's do this. The Dow voted today with 99% of the voters in favor of invalidating the last proposal. And this is the thing. I think this went through because of this particular reason. This is from the Solon team. We've been listening to your criticisms about Solend 1 and the way in which it was conducted. The price of Sol has been steadily increasing, buying us some time to gather more feedback and consider alternatives. One more time. The price of Sol has been steadily increasing, buying us some time. That's it. So my question to you is, do you think they would have gone through this and go, whoa, maybe we shouldn't have done this? And they say, you know what, Solon is now worth $10 per token. We're still going to go through with it. Or do you think they would just go through and say, okay, we'll redo the vote and we'll go from there? I personally I don't think that was going to happen, but I could be wrong. Let me know what you think about in the comment section. And then lastly, the metaverse sucks. Let's just agree. That's what it is. So this was an article. I'll paraphrase real quick, because we want to get out of here. So this is pretty funny, I thought. 18 people spent a week working in the metaverse, and two dropped out and the rest were just like, this was awful. This was, let me go through this. It was an experiment. And the researchers wanted to understand the effects of working in VR for extended periods. Now it's compared to work in a physical environment. They asked volunteers who either university staff or researchers spent an entire five-day working week in recreated virtual office, eight hours a day with 45-minute lunch breaks with those stupid goggles on. Participants weren't given set tasks to complete them. They could control the work anyway. Overall, 20% had a drop in well-being between the week spent in the environment. Participants also noted feeling less productive and a ton of other things down here. And of course, two just dropped out immediately because of nausea. So here's the thing. Metaverse is going to be big. It's just not going to be big now. It's like the internet in the early 90s. I don't know if you're old enough to remember this, but it would take you like 30 minutes to download a JPEG picture. And you're like, well, this is the future. This is awful. And of course, you'd try to use like ASC Jeeves or some other type of like AOL for a search engine, and it would come back like the worst rankings and the things that you could try to get for what you were searching for. It just didn't work. Just was awful. And now we're saying this to the metaverse. So give it some time and I think it'll do pretty well. And I think in all honesty, he's got to find the right ones. And that's the tough part. So if you could have gotten Amazon early, they'd be pretty good. Or Facebook pretty early, probably did pretty fantastic or Google or stuff like that. So I don't know which ones are going to be the big winners, but I will tell you that we just did a video over on Dan Degen. That is my second channel where I tell you it's a degenerate play where if you think, if you think this is risky, go over to Dan Degen. Super risky stuff. And we did a video with the team over there from cryptoverse. And I had covered this beforehand and they said, Hey, we're going to do minting of land. And it's like, and it's, it's, it's based on chain guardians. So check that video out. I linked in the description, but right now you can get like plots of land for like, it's like five bucks or something crazy stupid like that. But again, super risky, kiss that money, goodbye. That's it. And that's it for today. So look, I know I went a little bit long trying to explain everything as best I possibly could. I know it's going to be some gray areas, but now that concludes the news. If you want to stick around for the Q and A, I'll answer all your burning questions, the best of my abilities, and we'll go from there. But if you got to take off, thanks for stopping by, like and subscribe. See you later. All right, comments