 Welcome to your last set news to get top stores in crypto and bring out a bite-sized piece is today. I just want to bring to your attention just little subtle ways that big industry tricks you into selling your your bitcoin crypto and digital assets and this is just one example of many and I think it's just one of the easiest to kind of get your wrap your head around so you can get your mind right as things go on as far as investment. We're also going to do a little bit of follow-up as far as the the CPI and inflation numbers which were released this week. I'll talk about UBS, Daily Upside which is the newsletter that I use to track all this information and lastly we're going to take a look at some free software for portfolio evaluation tracking and taxes because I think you know if you're in America or around the world you need to do that stuff so before we get into all those things let's first take a look at what is going on into the market so today is Saturday by the great day here in Puerto Rico I think the highs are going to be like 79 lows like 70 it's perfect it's a great day and what do we have well bitcoins doing pretty good I mean the market caps are bouncing around that 2.2 trillion numbers so I'm happy I'm good with that I mean for what's been going on around the world I'm good with that Ethereum bounced back up to 3,300 and if you take a look at this this 24-hour mark everything's up I mean tether but it's an USD coin but those are just stable coins but everything essentially is up across the board and I like these numbers so the basic principles always are and this is just investment pending that investment advice is you know you buy the dips then you know you can hold on to them for a long time or sell as they go up and take profits along the way I personally buy the dips and just hold for a long time I do take some profits a little bit because I like to have to try powder for the next dip and this is just one of those examples and things are looking pretty good let's see if there's anything that's really big big across the board I think there was a 6.4 percent for a uniswap well it's like a pretty good 3.4 for file coin 5.4 for mona that's pretty good so looking excellent and then also I always I like doing this every so often which is to take a look at how you would do versus bitcoin so right here we're on coin gecko we're going to click on let's scroll down here click on bitcoin and it's going to pop over and look at this if you invested in of course bitcoins is zero across the board but if you invest in other things this is how you would do against bitcoin well if you bought a theory maybe up 1% by ends coin 2.6 solana down 0.3 and so on and so forth so and then dogecoin down 3.5 so this is just a way to see as ben and the cryptoverse talks about it bleeding against bitcoin and overall you probably do pretty well just investing against bitcoin now the long run it's debatable so we will see and that's what's going on in the market today so I just want to do a quick CPI and inflation number follow up now as you remember last week they released the inflation numbers and it looks like they were they say 7% and the consumer price index was also going up so how did that fare for the traditional markets because I believe that they are correlated and if you take a look at the S&P 500 let me just blow that up so you can see it over the last five days this was released on a Wednesday or so it actually dropped it a little bit in the market and just a touch then it went sideways and then it rebounded now here we are also if we took it like a look at NASDAQ same type of thing it took a little bit of a dip on Wednesday went down or sideways then Thursday people got the news and then it just rebounded a little bit more and then of course for our market it's looking pretty good so even though those inflation numbers are high the CPA the consumer price index and we can see it all around us things are going up didn't really affect the market too much and actually the market just brushed it off because like well I knew what's going on so that was just the follow-up I just want to do just to see where things are going as far as because we have to take a look at the big picture right the macro and see what's happening now I want to get into how they trick you and this was a nice little story about UBS and this was I need to I had to go back in time to take a look at what UBS was talking about this is from May 19th and sorry before I go on first of all what is UBS or who is UBS UBS as of 2021 is the third largest bank in Europe with a market cap of 61 billion it's considered a important bank by the financial stability board I would say so it has over 3.2 trillion in asset center management let me say that one more time 3.2 trillion in assets under management so it was interesting to me and kind of a bummer when they came out and they said hey UBS explains why you don't need crypto in your portfolio this was May 19th 2021 which we weren't surprised it's a bank what are they going to do right and it states right here uh CIO mark hey uh hayfully nailed it poured cold water on bitcoin stressing its position that the crypto is a speculative asset the portfolio benefits of holding cryptos are limited in our view and then they went on yahoo finance and said just how much it sucked you're like okay well that is just one of those parts where not for us right not for us but for the individual investor who's looking at crypto like you know well uh Warren Buffett said it and then Paul Tudor Jones talked about it and then Ray Dalio said it wasn't so good and all these different legends and you know in the space they said it wasn't great so I'm just gonna shy away from it unfortunately that's how it is because people need to hear it again and again and again from the people who are big in the space now we know what happened with Ray Dalio with the Paul Tudor Jones Bill Miller came out and said hey I got 50% of my total wealth into bitcoin so when we see these articles it's kind of like a bummer because it kind of shies people away but there's a catch and when we take a look back coming over here this was just a couple of months later from you today July 14th JP Morgan and UBS plan to onboard active crypto strategies just strategies just getting their feet wet and it states here uh the onboarding of crypto strategies will take place through the bank's fund to funds fund to funds are pooled investment funds that primarily invest in the shares of other funds instead of back with these bonds or other assets UBS the biggest swiss bank started exploring ways to offer crypto to its affluent clients this May so they're like well you shouldn't have it you guys shouldn't have it but our rich clients actually should and this leads me to my next point about how they trick you this is from the daily upside in the daily upside it is a free newsletter I get it every single day I've had it for like six months or so uh this is what they sent out just a couple of days ago I thought it was quite interesting so what they sent when my little snippet here was UBS latest effort is targeting the not obscenely rich so they're actually are targeting the obscenely rich and the then the un un obscenely this is what it states the bank UBS claims half of the world's billionaires are clients shipping to its 3.2 trillion in invested assets on Tuesday this was just this Tuesday UBS announced it's owning in on a new target U.S. clients with two hundred and fifty thousand dollars to two million to invest it plans to lure them in with a new digital platform that's interesting maybe it's one of the things they were talking about right here and then to finish this up the focus the new platform will be convincing these well but not too well off customers to turn to their digital devices for investment advice they will have access to video calls with advisors who can discuss financial strategies and will be granted access to ideas ideas from UBS's chief investment office which has 200 market forecasters around the world churning out research and guidance so here's the thing it's not like these people these investors these you know 250 000 to a million people are just going to be bombarded with crypto but i will i will hypothesize or i will opine but i believe that they'll probably say you know what there's this new asset class and we shouldn't put a hundred percent in there but maybe like around one two or three percent or something like that because the asymmetric returns are pretty darn fantastic and we've actually done a lot of research all the way back in the day and now we're gonna offer it to you now we don't want you to do that beforehand because we want to be the ones that you guys call the geniuses to bring it to your attention also that's uninteresting to you the daily upside is a free newsletter you can sign up there's a link in the description looks just like this and it's one of those newsletters that i open up every day just to get a sense of what's going on in the macro finance world so check that out and this actually brings me up to my next point because if we take a look at uh the different mass adoption is going on this is just a just a quick quick snippet about atm adoption going parabolic and atm uh bitcoin atms that are just located throughout throughout the us and different parts of the world uh if there was no demand for atms they wouldn't be making them as far as like for bitcoin but you can see now for the longest time 2017 there was like none 2019 2020 and just around for some reason this year it seems to just be exploding 10 k 15 20 25 k and more on the way again they're not making these machines because nobody's using them they're making the machines because there's a huge amount of demand and also if we're going to take a look at what's going on globally again the macro sense uh mayor of Rio de Janeiro brazil pledges to invest up 1 treasury in bitcoin and crypto and i thought to myself well okay so now we got the banks coming in now we've got these atms now we got these hedge funds what if you had more endowments retirement accounts and even more hedge funds getting into it which also uh takes me to this little point we had done a video uh just a little bit ago actually the four or five days ago and we had taken a look at it was a price waterhouse cooper's uh report that came out and they asked the traditional hedge funds why aren't you offering this to your clients and they said oh it's very easy here's the reasons 67 percent said they were worried about the client reaction and the reputation risk which makes no sense to me then regulatory uncertainty i get that product service services volatility the assets and then lack of deep and uh liquid uh abilities of the asset and then of course if you're talking about hedge funds which we're going all over the place check a look at this this we talked about a couple weeks ago there's been only three hedge funds that have beat a basic buy and hold from the s and p 500 you just go in the s and p 500 they give you the top 500 uh businesses uh throughout the world and that's pretty much as buying and holding now these hedge funds go you know what we can hedge against that we can beat them well they don't because last year the s and p 500 hit 28 percent only send vest and paul on srs at 46 55 and 75 percent year to date uh year over your growth beat just a basic buy and hold so how then will these hedge funds start to outperform these different places well there's very few uh hedge funds that will do it because they have no bravery unfortunately but there is one we did i did an interview with uh anthony scaramucci this was just a couple days ago and uh we had talked about how we bought this house here in port urico and there's timestamps that you can you know just go forward but i asked him that exact same question here in question five why don't all hedge funds uh just put one to three percent uh into this asset class need a pretty interesting uh talk about i'll link that video so you can listen to the whole thing it's kind of long and uh just go from there so again let me know what you think about that in the comment section there are just ways that they that they kind of do smoke and mirrors and say no no no uh don't invest into this and all of a sudden if we just take a look at the just the data around us we can see that yes there's a lot of things going on which means that uh bitcoin crypto digital assets are going up all right and that leads me to my last point there's some free software so uh i use crypto trader dot tax uh for my uh taxes and for crypto trader dot tax they're actually rebranding into coin ledger and i wasn't for sure why they were actually going to do that and uh it's because they're going to have some free tracking software for your portfolio and it goes even deeper than that not just the portfolio on centralized exchanges but on decentralized exchanges as well all the different things that you buy in open c in the nfts and everything else and you can track all those things in this free software that they're going to offer and then of course the things that you use there you can roll those into uh the tax software which is super easy to use so i don't understand why they did this so i just brought on uh david he's one of the founders of crypto trader and i just asked some questions so let's jump right in help us out david one of the founders of coin ledger and now well crypto trader and coin ledger welcome back to the show yeah thank you for having me it's good to be back and just walk people through kind of what's been going on here and what we're still building towards into the future around making your crypto taxes as easy as possible so maybe rob I just quickly mentioned kind of why why we're doing the rebrand from crypto trader to coin ledger and you know you can ask any questions along the way yeah exactly so let's do this why don't you first of all take you know walk me through it let's let's talk about the elephant in the room uh which is voyager the integration because i gotta tell you it sucked last year because i had to wait for the actual i mean i actually had to wait for a csv file which in this day and age is kind of it's it's weird to think about but yeah i actually had to wait for something how awful but now you guys are it looks like you're gonna have a direct integration talk to us how how's that gonna work and uh when is that gonna actually happen because taxes are due soon yep yeah so we're really excited we announced the partnership that we're doing with the voyager team which is going to enable any any voyager user to get a free 2021 tax report from that activity and how that will work as you alluded to is we're gonna launch it in February and voyager users will just essentially be able to link their account within crypto trader tax and what's becoming coin ledger no more csv files will automatically pull in that voyager transaction history to your crypto trader you know coin ledger account and then you can generate your tax report completely for free from there and so that's coming in February i know people are anxious to get in there's some final touches being done but we're really excited to to launch that to everyone yeah perfect and then for you at home if you're there's a link in the description you get i believe it's 20 off and then also there's a deep dive video which i show exactly how to use the software which is very simple from the time that i uh opened the software got everything going and then was finished taking about 30 minutes so it's very simple but it's the same thing you click on the button add an account it's going to go to invest voyager direct api integration then off you go so there is there is that part now there's two other things going on first of all you guys are rebranding crypto trader to coin ledger why'd you do that and then also talk to us about the portfolio tracking yeah yeah it's a great question so as we think about the long-term vision right we're we're building a company that's you know going to last 20 30 40 50 years even longer in this world web three world that we are so excited about and so in the long term we want to be known for more than just tax now in the short term right we were very focused on the tax use case but you know here's some never before seeing stuff this is what the rebrand is going towards you can see on my screen right now and so the name coin ledger you know we believe is stronger and more accurate in terms of where we want to take the business kind of as you know your financial life for web three right where whatever you're doing whether you're on dfi cfi exchanges or play to earn nfts right we want to become the ledger for all of that activity that's completely free to track and then also do your taxes so that was kind of behind the rebrand and that rebrand is happening here and a january beginning of february but it's all the same users of crypto trader attacks all of your stuff is going to be seamlessly moved to coin ledger and so we're really really excited about moving to that and i think everyone's going to love the new products that we're building on the coin ledger side yeah so talk to us about it makes sense you guys want to be here for a long time but talk to us about the upgrades what does that mean for the user what is special about it and what's what's the improvements essentially yeah the really big thing and rob you're familiar with our software is crypto trader tax is kind of this step by step just tax reporting right where with coin ledger completely free to use is you're going to be able to track your portfolio performance across all of your exchanges dfi protocols blockchains wallets completely for free so this does not exist right now in crypto trader tax and it's what we've opened up the app to be much more free to use right we want to get help as many people as possible so all these new tax reporting or excuse me portfolio tracking features are going live with the launch of coin ledger and many more will actually roll out after the first launch right we're continuously shipping more and more so that's the big thing is completely free to use is now tracking your portfolio and that's going to just continue to get better and better and better over time as we keep integrating with more and more blockchains wallets exchanges etc great okay awesome and you said dfi i heard you're right right dfi so we're talking about like all the all the dexes that are out there and the different fees and the gas fees and all that stuff so for the so that'll be tracked through coin ledger exactly and same same goes for nfts so with the rule out of coin ledger we're launching our complete direct ethereum integration support this is different than a lot of other companies out there we've spent about 12 months building out the proper way to do this and so it'll simply be dropping your thim wallet connect your wallet and we'll go and collect and sort and classify that data you know whether you're swapping with uniswap or trading nfts on open c and all of that will exist in your coin ledger account and then of course you can one click generate your tax reports from that data so a lot a lot of product has been built over the last year and we're really excited to launch it with coin ledger that's awesome okay great and then i'm sure as time goes on there'll be more updates we'll just have you back on so you can keep us abreast of the situation and we'll go from there anything else that we missed or uh i mean just those little things that you guys did i'm sure it's on a uh so you know so fantastic i think it's pretty great but anything that we missed we didn't talk about um no but you're right users can get 20 off everything using you know your link you've been an awesome partner with us and i'm excited to keep everyone abreast as to how we keep changing and adding more and more functionality as we keep going you know you guys can all reach us at crypto trader tax for now what will become coin ledger ask us questions we're happy to help with any tax questions you might have but uh thanks as always for having me on rob thanks all right thanks david let's jump back all right so thanks again david for coming by really appreciate it uh look if you like today's video you found a little value give it a thumbs up also consider subscribing i'll need 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 on the next one