 Welcome back everybody concerning news for today. It looks like a grayscale of grayscale Bitcoin trust of being sued and Some tough questions answered and I really have to take a look at this and say well How much Bitcoin do they actually have and what is it going to affect as far as the overall market? Take a look at that plus polygon comes out and they are building in this Dispicable bear market as I call build a bear and they're actually doubling up looks like transactions per second And also we're gonna take a look at how there's more calls for crypto as securities And I gotta tell you this doesn't make any sense and lastly we'll do a quick Q&A Go over all your burning questions and some best my abilities and we'll do the $250 each giveaway Thanks to ladies nft. So first things first grayscale is getting sued and You know not really surprising a lot of things going on as far as contagion and little issues and here and there and There's also some questions about solvency and proof of reserves which grayscale so they will not not be doing But here's what we got and this is what's happening. So Crypto market today fur tree suit hedge funds They have a suit against grayscale adds the woes this is what we have hedge fund fur tree is suing crypto investment firm and Coin desk sister company member. This is all through the DCG the digital currency group Grayscale which also has coin desk which also has foundry, which is one of the largest Bitcoin mining operations in the planet to obtain details about its flagship Grayscale Bitcoin trust in order to investigate potential Mismanagement and conflicts of interest now and this article doesn't really go through what those complex of interests are pension pension mismanagement But it's interesting of what they want. They want grayscale Fertree the hedge fund to resume redemptions and cut fees for the trust I had asked myself as grayscale ever done redemptions They haven't and if you take a look here as far as redemptions and far as this grayscale Bitcoin trust If you ever invested into the grayscale Bitcoin trust, you don't own any Bitcoin It's just favorite Bitcoin essentially you can never Redeem your shares for actual Bitcoin because the grayscale trust Owns the private keys to the Bitcoin in your shares So it's an interesting prospect. They're saying you need to start redemptions when they've never done that So I just found it very interesting of why they would sue them for that grayscale Bitcoin trust is selling a Test under the grayscale Bitcoin trusts. I don't understand the process because I'm not a huge corporation or entity or institution And I just don't I understand that you know, I could get access to this for quite a big Discount this is the grayscale Bitcoin discount or premium to NAV And we're talking about here is you can see we just read the definition The discount premium to NAV is a percentage that it calculates the amount in exchange traded fund ETF or closed-end fund is trading above or below its net assets value And the whole thing was this the whole prospect of the grayscale Bitcoin trust was it gave Big money large money smart money or you want to call it institutions access to the world of crypto? Without the hassles and inconvenience of self-custody they custody it for you You were a big institution. You got access to it or he had you're a height now with individual wipe your hands Everything's good and you paid a premium for that for almost let me see. Let me go back five years Ten years. Oh, yeah, don't have the access to that one yet In 2018 your pain almost 100% moving closer and refresh this Three years You can see how it flips over and now you're actually in the negative as of February 2021 So why would I mean people would do this, you know there It's it's a negative value But what they were hoping for was this magical Bitcoin ETF to come through and of course they said yeah You know, we'll get it as a as a value and we'll redeem it even though we know it's just paper and It's negative to the actual value of Bitcoin But we think of Bitcoin ETF is coming and what is hold on? We'll hold on and we'll hold on and we'll hold on and now we're at negative 43% So it's not looking too hot for grayscale Bitcoin trusts right now per se So fir tree the hedge fund wants to use the information and seeking to pressure grayscale to resume redemptions again We're trying to make immediately available to investors and to cut fees from the current 2% it goes over some other stuff and The the next question I had was was this is because as far as proof of reserves grayscale Bitcoin trust like we're not gonna do that Everything is with coin-based custody. So just look over there coin-based custody is like what we're not gonna do it either So we don't really know essentially if that is all proven to be true But I found it interesting that on top of What grayscale says it has and I have no reason to believe it doesn't But this is a great website called buybitcoinworld.com and treasuries And you can take a look at just by different categories Who owns how much bitcoin? Interesting enough microstrategy, which gets a lot of press because of Michael sailor doesn't even know 1% of the 21 million of bitcoin They have a pretty large amount 130,000 roughly galaxy digital is 40,000 It's quite a quite a number Voyager digital has 12,000. That's not moving anywhere anytime soon because it's locked up in chapter 11 Marathon 11 teslas at 10,000. So it still has it. Okay I'm sure they sold some coin base 9000 and so on and so forth and then if we Scroll down China, Ukraine, El Salvador is how much they have mount gox Again, that's not moving anytime soon As they say if they've come back But here's the big thing grayscale bitcoin trust 3% Grayscale bitcoin trust states that they have 3% of the total Circulating supply or the volume of bitcoin right now in their trust so What this lawsuit is going to do it's going to flesh that out And they want to see if that's true. They want to resume redemptions, which I don't think that's ever going to happen And they just have some questions to answer. So it'll be interesting how this all plays out. I Don't deal with grayscale bitcoin trust. I don't recommend it I personally just buy bitcoin on exchanges Transform to my ledger and off I go. So from there For me, it's not going to affect anything But as time goes on if this proves to be a little bit of a disrupter Especially with the contagion that's going on. We can see some problems Anyhow, let me just think about that in the comment section and next up I find this On this channel, I try to be a little balanced I know people will say robbie very bearish Well, I'm bearish near and mid term because that's just how I see things In the long term, I think things will be just fine And this is a great time for me to invest and one of those Crypto products that I invest into is polygon. I still Dali Koff's average polygon. I think it's a pretty pretty good platform a lot of different projects have been built upon it And uh, this is just one more thing that's looking good. So polygon medic have put out a tweet today How do you make the fast move faster? answer the parallel Ethereum virtual machine engine Researchers at polygon are excited to announce an innovation the polygon proof of stake chain They'll make it up to twice as fast and it's already super fast and a lot of the Products that we talk about on our second channel Dan D gen I've all been built on polygon because it's super fast and super cheap So what this comes down to you can read the whole article I linked in the description Innovating the main chain a polygon proof of stake study in parallelization parallelization And I'm not going to bore you and I'm not even going to pretend That I am some tech person because I am not I'm just an investor But what it talks about here is research employee on ps or excited to announce an innovation Up to twice as fast parallel evm upgrade and really all it comes down to this picture Execution versus parallel execution When you want to go through the process As far as minting blocks it is a sequential manager a sequential manner Start from here the block transaction one two three four verified off to go the block is processed And it's kind of like in this example. They they talk about going to the store First you have to get into your car. You have to start the engine Put it on the gas go to the store park your car get the groceries come back in everything has to be in a sequential manner What if you could just skip all that stuff? And just go through different trends the different manner of the way that you would do things and get it all done All at once that's essentially what they're doing parallel execution and apparently Did not know this But uh aptose Looks like they're I don't think they're working with aptose, but to address the issue Parallel execution aptose labs developed the block stm engine leveraging long-standing research beyond software transactional memory block stm detects and manages dependencies When executing transactions smart contract concurrently dynamic Which means the engine permits validation revalidation of transactions after execution all the means to me Things are faster things are gonna work quicker and hopefully it'll be cheaper. So again I'm looking towards These different projects that are being built in the bear market and looks like polygon is potentially one of those Anyhow, I will continue dollar cost average and uh go from there. I want you to think about that In the comments, that's quite quite interesting and then lastly I don't understand this part honestly um Calls that uh crypto should all be securities on this channel. I've talked extensively about uh regulation and um I'm not talking about when I talk about regulation. I'm not talking about to shut down wallets and And uh to regulate the crypto and where it should go What I talk about regulation is I think we can all agree here that the the centralized exchanges should have a A little more regulation I mean, we know that ftx was was regulated in some way shape or form But there was a there was some issue there and it wasn't being regulated correctly They weren't looking at co-mingling of funds They weren't looking about How things were moving as far as between the two entities as far as all the research and whatever else So there's a gap there and I'm sure if there's a problem created by man It can be fixed by man So I think that could be pretty good. Another thing I talk about here is uh give us some clarity What's the security? What's the commodity? What's the currency? And to me? like in all honesty, I don't see how these can be A a security like a security is like inequities like stock And I don't know about you, but I've never used my Airbnb stock or my google stock To use that as a gas fee To transfer other stocks around in robin. It just doesn't happen like that. However I have bought ethereum Specifically for the purpose to use that in my wallet as a utility To move things around and that there's no investment contract in there. I just need it as a utility needed to work So when I hear about this, I'm like, I just don't get how they're going to say that everything is a a security And then they say well, there is this utility part which we don't use for traditional securities But whatever was bypassed at but I'm just bring this to your attention. So here's what we got so with this one And there's a good lining to this story. So just stick with me Most cryptos should be regulated as securities New York Stock Exchange owner talks about and I just found it interesting that it's from The head of the New York Stock Exchange owner how convenient Anyhow most cryptos will likely be regulated under existing securities laws following crypto exchange ftx's collapse Introduction of players like the New York Stock Exchange may move may move into tokenized trading. That's the good part Head of the New York Stock Exchange owner. I said on Tuesday He states look they're going to be regulated in dealt like securities. What does that mean? It means more transparency It means segregated client funds again This is regulation for the centralized exchanges this has nothing to do with segregating client funds from the actual determining it as a security or a crypto or as A security or a currency or a commodity The rule of the broker as a broker dealer will be overseeing on the exchanges will be segregated Separated from the brokers again. This is about centralized exchanges exchanges themselves. It says nothing to do with the Regulation of crypto and determining it the settlement and clearing will be separated from the exchanges again exchanges The laws already exist. I think there is going to be implemented more strongly. He states and this is the good part We happen to run a securities exchange. Yes, he does So I could see us doing tokenized trading The ice chief said referencing the New York Stock Exchange It's not that different than a stock or an ETF or any other security true So I think if you're going to tokenize something Why don't you just say that's a security the tokenized part is an actual security? And why I get excited about this is because of this If you take a look at every little one of these squares here is a is a hundred billion dollars In the stock market and this is 2020. So it is it has inflated quite a bit The total is over now. It's over a hundred trillion dollars. So imagine if you could tokenize a stock Right, which is the value of a stock that is put upon the blockchain And you can say look if you don't have access to it We've tokenized it you can do a bunch of different things with it derivatives and swaps and blah blah Whatever you want to do and play around with it That's great And that's what we're going to do and that part is the actual security I can kind of see that but again, I just don't understand how they talk about like We're going to say it's a security even though we use things as a utility and then to further kind of get this point home. This was uh Michael sailor on the pbd podcast and he talks about what he thinks is a is a security and why it is and before everybody blows up at this the This piece just know that sailor is going to miss miss He misspoke when he talks about ripple versus excerpt. He didn't know what i'm talking about in a second So just listen to this and see if you agree and we'll do that that giveaway. So take a listen What are your thoughts about what's going on with ripple and how he is handling the ripple case Ripples are not registered security It's pretty obvious. There's a company The company owns a bunch of it. They sell it to the general public But there's no they never took the company public. There's no disclosures right, so So the sec's position is you're selling an unregistered security. It's a it's a crypto token Right, just like ethereum is an unregistered security It's controlled by a few people in the ethereum foundation and consensus fair Just like ft just like salon. Perfect. But here's a follow-up. They're all unregistered security Here's a follow-up on that. I don't know on a single ripple just so we know So full disclaimer. I'm not a ripple guy But if if both of them are unregistered why target ripple and not target ethereum the way He is targeting ripple And by the way, this is coming from a guy that owns ethereum not ripple Yeah, I think I think the best thing for the world would be with the sec pretty much shut down all of it It's all an ethical right. I mean the bitcoin position would be Bitcoin is an ethical commodity All of these other altcoins are unregistered securities. They're all just equity tokens issued by a company in order to get around going public and they're committing securities fraud Ethereum included of course Especially ethereum, you know ethereum's got 20 billion dollars of eth token locked up in the staking contract right now And there's a couple of people that may or may not give it back to you ever now Isn't that the definition of investment contract if if a bank took 20 billion dollars of your assets Froze the window and said you can't have your money back ever. It may be in the year 2024. We're not sure We're just going to keep it We may actually give you interest on it. We may take it all. We may you know, we may slash it That's the definition of a security, right? All right, great So, I mean you understand take it with a grain of salt michael sailor just owns a boatload of of bitcoin But so the thing he does talk about is actually true. But of course, there is the one thing that's uh, we can't let it escape Yes, ripple is the con great fantastic When I uh, when I take a look at these things and I see it I just don't see how there's any way around it how we can say okay We can we can segregate the the crypto the digital asset from the actual utility of what it provides Let's be honest. We all use ethereum Uh for our metamask wallets. We all have to pay these fees and it is a utility for that So I just don't see how we can get away with just the sec saying it's all it's a security And going from there and moving it out. There are nuances and uh, if People know who I can get on the on the show to to clarify the nuances of what a security what a commodity and what a currency is I'm all ears. Now. There's a lawyer Deaton he's uh, pretty prominent on twitter love to have him on and he can kind of break this down because to me It just doesn't make much sense. Anyhow much to think about that Do you think we're just going to have commodities bitcoin only and everything else security? Or we're going to get around this and go from there. Let me let you know about that piece Then lastly, let's give away some ethereum, huh? Speaking of which if you want that ethereum, you better have a little ethereum so we can send it to you And your in your wallet if you want to move it around 250 dollar eith giveaway. So again thank you to ladies nft, uh, they rang me up They rang me up like that's not even a thing anymore. They Dropped me a dm and these are from ladies is also associated with uh, d's nuts That's right One of the great projects that's out there. I love those guys. That's a part of the best community can be a part It's just hilarious And they came to me and said look we're gonna start to do uh, we have a play to earn game coming out. We got the The meta the metaverse happening Also, we're gonna do the minting of the ladies nft this saturday. You want to do a giveaway? Great Sure that people like money people like free money So all you had to do is just follow me on twitter and then you can follow news asset Lay down like comment retweet watch the live stream. I'll pick the one in life Which we're gonna do right now. So let's do that. So I do this every time That's Okay, that's better. So we're gonna take this So no one can accuse me of rob you You gave it to your mom or something. All right load tweet All right, so let's see. There's only one winner today. You must follow me You must follow ladies nft If you ever have a picture and something in your description I'm not gonna give this to a bot that makes the sense the kind of one sure Let's see if this worked continue. Oh, that's a lot We've got 220 let's continue begin the draw Big bang boom. Congratulations 33 Let me show this I have just followed you. You can now direct message me. Thanks for stopping by If you like today's video