 Mm-hmm. Great. Welcome to July set news. My name is Rob. And today, or actually tonight, depending where you're at, is just a couple of follow-up stories just to kind of get the feel of what's going on in the crypto space itself. This is not the usual time that we do these streams, usually we do these in the mornings. But today's a special day. I thought I'd just play around with the times and get some things done in the morning and then move over to the evening to see just some different people. So what I want to talk to you tonight about is the six-month, six-month outlook and where we are now and where we're going. And I got to tell you, it's not a negative or positive, it all comes down to bearish and bullishness. So the first thing we're talking about is the market, and it's down a little bit because it is the weekend. Then we're going to talk about how Bitcoin will recover, take a look at some lessons. Then we're going to talk about the case for utility, because in all honesty, and this will be a little more interactive than we're used to. The whole case for crypto and digital assets is to see the actual utility and if it actually does really anything. So I'm just going to get some feedback again from the same question I've been asking for the last three nights. Then also we'll talk about how I'm just a little bit more bearish after this nice little letter came out from Mt. Gox and the distribution of Bitcoin or cash or Bitcoin cash, whatever the people want to do. And that's going to come to us very quickly around August. And I'll tell you exactly what's going on and read the letter to you and you can make your own decision. And lastly, we'll talk about little Celsius updates. Simon Dixon was on James' channel, Invest Answers, and I got to tell you some of those revelations were pretty juicy, we'll say, and at the very end, we'll just do a little Q&A. So first, let's get into it. What's up with the market? So the market's down a little bit, not surprising, just is what it is. No, people were expecting a pump this week, I don't know why, but sure, whatever. But we are, again, a multi-billion asset class, not a trillion-dollar asset class anymore, because the market cap today is $995 billion. We just need $5 billion to break back in. But of course, I still see us going down, especially Sundays. Sundays and monies are always the worst, just in the history-wise. I don't know what's going to do it again, but here we go. But there was one thing that was interesting, and Uniswap is up. I mean, everything else is down, but Uniswap is up, 7.8%. And I thought to myself, I wonder why that is? Maybe it's because nobody has any faith in centralized exchanges, especially with what's going on. And I got to tell you, if it wasn't for those crappy fees with the Ethereum gas fees for Uniswap, I'd use it all the time. If it was pennies, oh, yeah, definitely. But I can definitely see, like, people want to use Uniswap a heck of a lot more than centralized exchanges, and it's making me move over to the lighting network and strike. And we'll talk about that later. So that's what the market is down a little bit sideways action. Quite boring, and that's just how it goes. And usually, you know, I talk about how, when it's boring at the time that I want to dollar-cost average and invest, I've slowed down my dollar-cost averaging, because I think there's some more bearishness coming up, and we'll talk about that in a bit. However, long-term, still seem, might be pretty good. Bitcoin, we'll recover, and here's the lessons. You're going to hear a lot of negativity coming up, because I was over on Jason's channel. That goes from above. Good channel, really good for macro outlook and things like that. I guess he might be getting sued by me, Kevin. I don't know what that's all about, but sure. But besides that, we were just talking about where things are going, and he asked me a question about the media. And he says, do you feel like the media has a role in how much it pumps crypto and digital assets? And I say, yeah, absolutely. I mean, look, Jim Kramer about a year ago was talking about how great Bitcoin Ethereum was, and then he comes out when things started to, you know, tank. He's like, I sold that trash two months ago. And I'm like, oh, that was nice. So Jim Kramer might be our bottom indicator, but I just want to remind everybody that nothing changes. Nothing changes. There's this book. I wish I could send this to everybody. It's called This Time is Different. It's by a couple of economists, and it takes a look over eight centuries about how there really is nothing different in the economic cycles and just repeats and repeats and repeats. So when we see these things, yeah, this is a pretty unpleasurable bear market, especially with what's going on. However, if we take a look here, this is just a reminder of how many times Bitcoin has actually died. This is a great website called 99Bitcoins.com. forward slash bitcoin at Bitcoin. The link in the description so you can take a look at it. And over the last year, we've had, oh, I don't know, 75, 100 different deaths. And the most recent one was June 25, 2022. And these are just, that just tracks all the different news publications which talk about how Bitcoin is dying. And if you take a look over the last year, that's a lot. If you take a look at the entire existence of Bitcoin, you would be surprised to find out that people write about how Bitcoin is dead even during the most heated bull runs. People say, well, that's not going to make it because it's just too far. And that goes down like, see, we told you it sucks. It's trashed and then it goes up. It's like, yeah, it's getting too hot. It's just junk. And then it goes down and see, we told you. And it goes all the way up here and it's dying. It's dead. It's dead and dying. And you know, it's just, to me, it's just the same stuff repeating. That's how it goes. So just a quick reminder, that's how I see things. Now, this is an interesting article. This is from Coin Desk. Talks about Bitcoin make a comeback. Rockefeller International Chairman says. So let's get into this one. I thought I found this one quite interesting. Bitcoin is fundamentally a good idea that has been spoiled by too much cheap money and speculative interest. Rockefeller International Mine Director and Chairman Ruchar Sharma. First of all, who's this guy? Who am I talking about? I'm talking about this guy. This guy, Ruchar Sharma, nailed it. Investor, author, fund manager, columnist for National Times, Chairman of Rockefeller International. Was an emerging markets investor at Morgan Stanley Investment Management. So some of the things he talks about, I think, bears a bit of weight. And he just kind of takes a look at how these things can come about. So Sharma said Bitcoin could make a comeback in similar fashion that of e-commerce giant Amazon, which plunged about 90% in the early 2000s. Before I can read this all to you, I really could. And it'd be interesting. But let me just show you some things. First of all, the Rockefeller International Foundation. They do big grants for big ideas. The first one they did was the American Red Cross more than a century ago. Just initiatives and the trailblaze, unlike the partnerships and sparked innovations for transformative change. And I think that's why you've got Sharma here taking a look at Bitcoin. When we talk about Amazon, I want to put this in context. This is the max chart that I can bring to you for Amazon. And you have to remember Amazon started out as an online bookseller store. They didn't know what they were doing. I mean, Jeff Bezos kind of had an idea, but it took a long time for them to figure it out. I know people were like, why do we compare Bitcoin to Amazon? Just wait for a second. Just take a look at these charts. So it's an innovative idea. And a lot of times you have innovative ideas that takes a little bit of time to really figure out where it has to go. I will remind you that we're in good company because Warren Buffett sat on a, it was a conference. And Jeff Bezos came up and he talked about how great his company was. This was like a 99, 2000 and how it was gonna change things. And then he, you know, people clapped and he stepped off and Warren Buffett comes up there and says, well, that was a nice speech, but I'm sure Mr. Bezos is a very nice person, but I will never invest in that. That makes absolutely no sense to me. I'm pretty sure it will fail. Sorry, Jeff. So again, we're in the same company there, but if we take a look at Amazon itself, doesn't this look like there's nothing there? When they talk about the crash, the dot-com crash was 2001, around November, 2001. So I want you to notice that these little, geez, you can't even see it. These little tiny spikes right here, this was the massive run-up of the dot-com bubble. December, not even here actually. It was, yeah, right here. The Amazon stock was $5.25. I have to tell you, it didn't really do much, honestly. I mean, books, really? So we really need to have that delivered to us. And I think there was a bit of disconnect. People thought it was a great idea, and they thought it was innovation, but it really hadn't been fleshed out. And that's the reason why I'm always asking the question, where's the utility for crypto? I have to ask these questions because I think it can be there. I honestly don't think it's there yet. So $99, he had $5 for Amazon stock. Didn't really do too much, honestly. 331, and I went down, 99. That was just kind of sideways for a bit. Let's fast-forward. People were speculating that in 2001, going a little forward, I want to say November, yeah. Went to 34 cents, 34 cents, roughly about an 90%. A little bit more. And when you take a look at this, and you think to yourself, what happened? It's a funny story because even Jeff Bezos, when he saw this, he took a look at all the company information and said, that's odd because we've done a good amount of mergers and acquisitions. We've increased our customer base by 500% or something crazy amount. Our revenue is up. We're doing more acquisitions of warehouses and expanding globally. So I don't know what that is, but that's just the price action. It doesn't always necessarily say what really is the truth of that company per se. So to put it in perspective, look at that. That is the crash. Now, if we take a look here, this is, of course, the big run-up. And these crashes, if you zoom out, are not a big thing. Now take a look at Bitcoin, kind of the same deal-y. 2012, 2013, this is almost 2013. Before that, it was like $400, $80, $60. I mean, talking about two, three, four or $5. So it would look even flatter than this. Same deal. It's just the only difference with us is that we've had more run-ups and crashes because we are extremely volatile. And then run-ups and a little bit of crashes, and run-ups again, and some crashes, and here we are yet again, kind of like how Amazon is also taking a hit at the same time. So again, to me, I know it doesn't seem like it's the greatest, but things just keep going again and again and again, which leads me back to the article. Sharma says exactly what I've been saying too. We need the excess to get weeded out. 19,000 crypto projects is ridiculous. We don't need all these things, and most of them are worthless. And then we can see the emergence, once again, of Bitcoin and crypto as a studier asset. Bitcoin, he said, for now remains caught up in this speculative mania. He returns the Amazon example, noting it took some time for that company to recover. And also, just real quick, it took a while to recover, but then you also have to remember that there was these economic cycles. And I think right now, we've talked about this many times, we're headed for a recession if we're not in a recession already. So even though a recession is gonna be here and you hear the bad news that is the recession, which usually lasts about two years, and it's gonna be confirmed here in a little bit, just remember that there's a lot of economic growth in between recession. Here's the last one, the 90s. Here's the dot-com era. Recession is everything crashed down. Economic growth, then of course, we had the housing market bubble. And then of course, there was a crash. And then economic growth for a number of years until COVID came around. But there's a lot of time here. And it's always a two-year timeframe. And again, I always think it just comes back to this. The four-year cycles, having all-time-eyed dip resets, again in 16 and 17 to 19, I think we're seeing that right now. And we'll see it again. So that's just how I see it. Sharma thinks the next six months could see further drops in part thanks to a continued decline in U.S. stocks. I mean, there's a lot of reasons. He noted typical bear markets last about a year. And stocks fall about 35%. The current bear market is less than a year old. And the S&P 500 is falling by just 20%. That's why I think that this year is pretty much shot. I don't think it's gonna be, we're not gonna hit all-time highs, I just don't see. I mean, we could, it is crypto. I just don't see where the narrative is, where the money's coming from. And where the people's ability to invest into it. He says, I don't want to call the market bottom as of yet on Bitcoin and crypto. The U.S. bear market regime, which is the driver of risk, is still very much in play. Sure. So, and he talks about it depends on the U.S. dollar. But this is what it comes down to is this, like the utility part, the utility part of crypto and digital assets. And he's bullish on India. And I was like, why, what is the point of that? And he says from an economics standpoint, the country's use of Bitcoin, other digital cryptos to issue payments via direct digital transfers is helping everyday residents. And I'm like, how does that work? Because that's Bitcoin. That doesn't really seem like it would work too well. I say to the country, like India really shows you how much the build out of a good public digital infrastructure can help transform the lives of people. It's possibly the single most important economic development for India. Okay. So again, utility. Is there really utility there? Because if I, when I took a look at this, there's a website brand shark, the top payment processors and the top payment processors in India in 2022. And if you take a look down here, there's the same usual suspects PayPal for every transaction. I thought it was interesting 4.4% because here in the States, we pay 2.9% plus 30 cents per transaction. So I thought it was just interesting that if you're over, if you're doing swipes for PayPal, then of course, this is where you're at. And then 6% plus INR 0.25 for international micro payments, INR 580 for disputes, INR 250 for bank returns, Instamojo, I guess it's another payment processor over there, 2%, which isn't too bad for UPI domestic debit cards, 3% and 18% GST on the transact, that's a lot. Razor pay, 2% for Indian consumer credit debit cards, 3% international credit, 18% GST app going on the transaction fees. So again, when I take a look at this, I'm like, that's a lot of money. I mean, if you take a look at the average income for places in India and just around the globe, so how do you get away with that? Let's just think of the light network and it seems to do some pretty good stuff and can actually do these things. Instant payments, lighting fast payments without worrying about block confirmation times, securities enforced by blockchain smart contracts, payments seem measured in milliseconds. It's scalable, capable of millions of billions of transactions, low cost. And from what I understand, what I've looked up, it's pennies per transaction, pennies. And of course, cross blockchains, possibly transaction across blockchains about trust in third party custodians. So I took a look at this and I'm like, that could be a utility for Bitcoin itself. And I remember the last Miami conference and you had Jack Moller's come up and he talked about how you can use strike and there was an integration with a payment processor here in the States. And I thought it was actually global. So the question that I have is like, if the utility's really there, then why are people using more of the lighting network for that if it's so low for the transactions and the transaction speeds are so high because it's a layer two solution on top of the Bitcoin network. So I look at that, I'm like, it doesn't make any sense. So tell me where I'm off there and then also tell me where you think that we actually have utility for other crypto and digital assets. Don't tell me that, oh, well, this crypto is great because I can buy an NFT. What the heck do NFTs do for you? I'm curious because like I bought many of an NFT and besides the fact of a status and it looks goofy and it might give me a discount in a little bit someplace else, I don't see the point right now. I can see points later on if we're gonna do like digital IDs or gonna do something with actual real estate and property and integration into the public ledger or government so they can actually record who has what. I can see that, but other parts, I mean, and then the things that are out there are they actually being used on a grand scale, not just like in a test type of environment or just a small type of framework? I know it's harsh to say, but it's the same thing I was thinking about with this when we took a look at Amazon. I think this with Amazon, there's a lot of things that we're seeing right now there was a big run up and because it didn't really have a lot of utility it just went down because who the hell cares about buying books online? But if you can send me everything else like what Amazon did, then that's why it's worth so much. Anyhow, let me know where I'm wrong here. Let's jump into the last parts, Mount Gox letter. So I'm not the most bullish person on YouTube. And I sure as heck don't give a lot of hope I am unfortunately for you you'd probably be better served just to go, ah, shoot someplace else and get all the hope that you want but I just don't see it like that. I'm very bearish right now and here's some of the reasons. So I put this out about three hours ago so there's a perfect storm coming. The Fed rate hikes we'll see what the CPI numbers are next week and then of course the Fed has a meeting so we'll see how they boost up the rates 75 basis points to one. You got more COVID lockdowns in China. Now this is not the entire Chinese country or the country of China but there's a random lockdowns being enforced because they have a zero tolerance policy in certain areas and that's just will affect supply chains, I believe. Excessive housing supply with rising mortgage rates. Again, as the mortgage rates rise then that prices people out then the builders who actually built those houses they are now sitting on a massive amount of inventory and that means the prices will go down and maybe they won't be able to pay for those loan that they use to build those houses. We'll see. And of course, U.S. elections in November so that's gonna bring along and that's just the United States midterms. But and then I said, let's not forget this gem the Mt. Gox dump in August of 141,686 bitcoins. So here's what we got. This was, I'm gonna read this quickly and I'm gonna go to the actual letter next. So this is what we have. Victims of the implosion of Bitcoin exchange Mt. Gox are now able to opt between different ways for receiving their Bitcoin back and people would say, they always ask me, is it gonna be cash equivalents? Yes, but it's gonna be Bitcoin, cash or Bitcoin cash. Even though the incident caused the loss of over 700,000 Bitcoin 2014 this is when there was a big hack and then there was another hack and it just became insolvent. And even though there were 700,000 loss they've retrieved less than 150,000 which is not bad because that's gonna be distributed back to the people who lost all those Bitcoins all that time ago. Mt. Gox creditors were sent a correspondence dated July 6th by attorney Noguaki Kobayashi nailed it, appointed trustee in the Mt. Gox rehab process who confirmed that he was preparing to make repayments to account holders. And this really all goes down to the assignment. Following discussion with the court and in accordance with the rehab plan the rehab trustee plans to set the assignment. Restriction reference period from approximately the end of August this year until all are part of the repayments made as initial repayments is completed for safe and secure repayments. What kind of word solid is that? Let's just go to this thing. Geez, that was a bit. So this is July 6th, Kobayashi. This is for all the debtors of Mt. Gox. So they said here we're currently preparing to make repayments in accordance with the rehab plan and again, requirement for the choice and registration. Rehab creditors make choices and registrations for to receive repayments, blah, blah, blah, blah. The choice of whether to receive an early lump sum repayment or not. So I guess you need everything probably at a discount. Let's see, repayments in cash and registration of recipient information or the choice of whether to receive repayments for a portion of the rehabilitation claims involving crypto in the form of Bitcoin and our Bitcoin cash or not. And the registration of user information with crypto exchange records. That is interesting how they said that here. Registration of preferred method of receiving payments in cash and registration of recipient information. I guess that's like, hey, I got paid, so leave me alone. And then the choice of whether to receive repayments for a portion of the rehab claims through crypto in the firm of Bitcoin and Bitcoin. She always got to go find something. So that's what we have right there. And then what it comes down to this is setting of assignment, restriction reference. See, this is why I don't do things at night because everybody's awake. Setting of assignment, restriction reference period. This is where the word salad came from. Okay, nothing there. Falling discussions with the court in accordance with the rehab plan, the rehab trustee plans to set the assignment, which is doling out all this crypto in cash. From approximately the end of August this year until all the parts of repayments made as initial payment is completed for repayment. So what this really says to me is that things will start rolling in August. It's not like they're gonna dump everything in August because it looks like there's going to be payments made over time. Now I linked this document in the description, but that means to me as a slow bleed if you really want to take a look at it. So if they, and here's the thing, you have to understand a hundred and forty some thousand Bitcoin just being released back to you. And that's another thing. People bought these in 2013, 2014. Let me take a look here. Da, da, da. What was, I want to say it was like a hundred, yeah, it was like a hundred bucks. So let's say like back in 2013 when you were buying, or even before that, let's see how far back we can go. Yeah, roughly a hundred. So like a hundred and eighty bucks that you were buying Bitcoins, let's say you had like 20 Bitcoins on there and you just finally, after all these years, waiting all this time, get to get that Bitcoin back. Would you be like, oh, I can't wait to hold on to that? For another 10 years. Because, I mean, some will, I'm not laughing, but I find it kind of comical that people are like, oh, they'll probably hold on to it. I don't think so. I think if I'm waiting for eight plus years for this to come through, and I saw that the Bitcoin price went up to $63,000, $67,000 or whatever else it was, then it went down to 17,000 recently, 17,000, six, whatever it was. And now it's around 20. And I'm hearing all these things. I probably like, you know what? I'm gonna take some off his able. I've only been waiting eight years for this. Maybe I wanna pay some bills. Maybe I wanna get a little bit back that I put all into it. Or maybe, just maybe, I'm sick and tired of the whole crypto game and I'm just gonna sell everything. Now, other people might look at this and go like, this is a great investment. And then they might, that's true. I just don't think it's the massive majority. Tell me where I'm wrong in this one. But it was me, I'm like, I've waited eight years for this, I'm gonna sell some at least. I'm going to take some profits. Anyhow, that's what's going on in that piece. And then lastly, I just wanna finish up with this. There was a vid with James from Invest Answers and Simon Dixon about Celsius. And I know some people are on the fence with Simon and some people on the fence with Celsius and Alex Michenski. And of course, there's a lot of different accusations being thrown around. And all that I can tell you is that the information that we get that's slowly creeping out, there's a reason why those withdrawals were stopped. And it wasn't because it was pristine practices of what was going on at Celsius. Just saying. So there was some pretty good revelations in this video. And I linked that video in the description. Now you can check it out. And they just talked about what the plan is now. Those three options that Simon had laid out, he's like, after the things that he said that he's discovered and the things that have been dragging on for so long and just the shared timeframe, he's like, I don't think we can do any three of those. And he really just talks about there's one way and it's chapter 11 bankruptcy. That's exactly what he says. His words not mine. And he talks about how at least we get chapter 11, we can take a look and see exactly what the book say and what actually was going on and then move from there. And there were some other things that was said about the history that went on with Celsius. And I will just tell you this. If I was you and you would invest in Celsius, I would just watch this video just to see, just to gleam some information and then see where you're at and where you stand. That's all I'm gonna say. So links in the description is very top. And then that is it for the stories for the news today. So right now, if you got to take off at Saturday night, I don't think I'm ever gonna do this, this late again. I don't really like doing the news this late because I get a little tired, but I thought it was necessary for today. But I don't ever do it. So I'll try to mix it up. Anyhow, if you got to take off, take off. It is the weekend at Saturday night. Could do whatever you do, which is fun times. I got my grandson with me. So we'll probably go to like Chuck E. Cheese's or something tonight, something fun, and then get out of here. So like the content, like and subscribe, all that great stuff. Now we'll get into the Q and A. I'll answer all your burning questions, the best of my abilities, and then we'll go from there. So thanks for sticking around. Everybody tags me poopster. I don't know. Did you see the OXB1 Twitter tag in there? You got to tell me what it is. We'll go from there. That's debatable. That's not a green screen. This is a green screen in my mom's basement right now. Let's see. Voyager, yeah, so Voyager. So here's the timeline. Well, Voyager's in chapter 11 as well, bankruptcy. And there was a, you know, if you don't follow on Twitter, try to follow me on Twitter. There was this great, let's see, Burp. I don't know why did that, cause you can't even see me. So on Twitter, that was a good one. There was this thread from Wasi Lawyer. And Wasi Lawyer is an actual lawyer, but he's on Twitter. So he's like, look, I'm a lawyer, but I also have this anime penguin in a suit. So don't construe this as legal advice. But he goes over the whole process, the chapter 11, the Voyager following and what it all means. And it was, it's enlightening, exactly what he talks about. And he just, because I don't know if he deals directly with chapter 11's, but he was very, very positive on the way that things were laid out and the speed at which the plan for which Voyager has come forth for chapter 11. He goes, it looks like things positively could actually move forward and they could become, you know, a whole company again. It's gonna take a little bit of time, but this is, you know, I like this whole thing. But it's like 20 different, 25 different tweets in a row. I'm not gonna read it all to you, but just follow me on Twitter and you'll see the whole thing was pretty good. But yeah, Voyager is still in it. And I gotta tell you, let me hide this. I wish I would have these rules right here. I wish I would have been beating them in everybody's head a lot, a lot longer. That video I did on June 22nd, where I said, you know what, Voyager did not, they didn't take any collateral for like a $500 million loan to three arrows capital. I go, you can't do that. And I just said, I'm not keeping my money on there. I'm gonna use it to buy and sell. I'm not keeping any money on any exchanges. Take it off. And that was June 22nd, then July 1st, withdrawal is done. Crypto Esquire, did that lawyer disclose whether they had crypto on Voyager? He didn't talk about it, but what he was talking about was, more specifically, was this one. This is the PowerPoint presentation. Again, follow me on Twitter. This is where I put all the good stuff. The PowerPoint presentation for Voyager, for what they're doing, let's see, or what they actually submitted to the courts in the very first day. And they just talk about, they had over 110 million of cash and crypto assets on hand. 300 million of cash held in the benefit of customers or FBO account of Metro. So they have 350 million of your cash at Metropolitan Commercial Bank. Approximately 1.3 billion of crypto assets on platforms. They still have the 1.3 billion. And of course, unfortunately, they did that ridiculous three arrows capital loan of 650 million. So roughly half of their crypto assets. I mean, it's not half, I mean, it's half the value, but it doesn't matter. But they gave 650 million to three arrows capital, things gonna get paid back without collateral. And here we are. And they talked about, this is how the company overview works, trading services, company overview. Again, fundamental funded debt. Let's see, Alameda Ventures, 200 million of USDC and 15,200. This is what they received. And also Alameda Ventures, 75 million. Here's the outstanding loans. This is so strange. Cause Alameda Ventures limited loan facility gave them $200 million of USDC, 15,000 Bitcoin, which is 500 million and then 75 million USDC. Then they gave them a loan at some point of 377 million. Then they gave Mike's Galaxy Digital 34 million. That's not bad. Genesis Global 18, Taimo and some other, they give three quarters of a million. So they have, yeah, outstanding loans is this. 1.1 billion are the loans. And a big chunk of that is three arrows cap. If you take away three arrows capital and Alameda, that's the whole shebang. Cause the rest of it isn't squat. It's just these two companies right here. And it's weird because if they gave a, that doesn't make sense. They gave a loan to Alameda and Alameda says, or Alameda Ventures, they gave them this, let's just swap back. And you know what's funny? Let me show you something else. Should be the show right here. Alameda Research came out and said, hey, this was on two days ago. They said happy return the Voyager loan and get our collateral back whenever, whatever works for Voyager. So I mean, let's do that. That makes a lot more sense. But again, the three arrows capital is a bit too much. That was, that was bad, bad, bad, bad, bad risk management. And when I found that out, I'm like, I like the people at, obviously I like Voyager. I like the people over at Voyager, but you can't allow me to let, you can't allow that to slide. Can't. When I found that out the next day in June 22nd, I put out that video. And then a lot of people have come to me and said, hey man, thanks for putting that video out and putting the rules up because I took everything out. And I'm like, I mean, even after the, but even after the Celsius thing, wouldn't she be like, I don't trust any of these places. I didn't. And then when I, so the Celsius thing was on, what was that? June 12th. It was like two weeks before. And then on June 22nd, I put the video out and I talked about this is not good. It like three weeks. We all had three weeks to do it. And I mean, I took, I mean, Celsius is like I got caught with 3% of my portfolio and Voyager wasn't that much. I unfortunately left a little bit too much of the VGX token there. Stupid me, but it's not gonna be crushing me. So it just does really tick me off. Yeah. Diesel, the great best name of all time. Diesel cane, I bought full coins at 70,000 Australian on my retirement fund. I got a five to 10 year plan I'm holding. Yeah. Me too. I always think this is Neil Diamond. Neil Deerman. You can buy Crypto P20 on an ATM. That's true. And then I just, I downloaded the Strike app, Jack Mahler's thing tonight. It's pretty easy. You have to use your debit card, but you have to put your debit card in. You can use your credit card, but of course there's fees for that. Debit card, it goes in. It's automatic. That's not automatic. You have to manually do it. And then I bought 125 bucks of Bitcoin tonight. And there was like no fees. It was like I bought 125 bucks of Bitcoin. I got 125 bucks of Bitcoin. Pretty nice. Yeah. Because of visits for a long time. I heard that whole country is going down the economic tubes as well. There's a big riots and such. Do you have to buy Crypto Offin Exchange or put in a hard wall? No. And Neil Diamond said it. Neil Deerman just said, you don't need to. You can go to a Crypto ATM and do it that way if you really wanted to. And then if you really don't want to do any of that, you can use a DEX, a decentralized exchange like Uniswap. I don't really like Uniswap that much. It's just too expensive. Simple Swap's not bad. It's up to you. I don't trust anybody anymore. Just don't. So like right now I've been using, so I've been using Strike just today. I used Coinbase last week, last Sunday. And then I probably might just keep using Strike, sending over Bitcoin. It's all I'm buying anyhow. What do you think of the Tether audit? Would you start to trust it again if thought it comes out all right? Sure. Depends on who's doing it. Is it like Dr. Nick from The Simpsons or is it like a legit company who goes in there and, you know, doesn't it? I know people will say, well that was a legit company in the Virgin Islands. Sure it was. But these days it's hard to trust anybody. Don't even trust me. I can be lying right to your face. Don't trust, verify. That's true. You can buy a RAP Bitcoin or DEX, but you know it's a RAP Bitcoin and that's an ERC 20 token I believe. So that means you gotta pay the Ethereum fees. And this is a good point. Top Cheese says crypto ATM is pricey. It is. What are happening to the whole idea of just, there's a person in London and he wants to sell me one Bitcoin. I say, I'd like to have that one Bitcoin. They just sell it to me. We can transfer again. That's the problem. Do you ever do any training at chem? Bullish. I don't know. Let's see. Yeah. Engine man says I'm very, very, very bullish. I'm starting to think that most people in investment thesis buy pumps only. No, what I'm waiting for is, and there was a great interview with Gammon on value tame it. And he talks about how people like to look at charts and like to time things and like to do all this stuff. And he's like, you can do that. But he goes, that's not the right way to really look at things. He goes, just take a look at if things are cheap versus expensive. He goes, when you take a look at if things are cheap and he talked about how if you can take a look at, you can just Google it. Inflation adjusted, housing prices 1900 to present. If you Google that term, there's gonna be a document that's gonna come up. It's gonna show you the normal prices for Bitcoin. I mean, not for Bitcoin, for just the housing market. And you can also do it for Bitcoin as well, taking away the aspects of inflation. And you can just kind of see where things will be considered cheap or expensive. And he talked about how he goes, he goes, yeah, he goes, I bought a bunch of real estate in early 2000s. And he says, because they were inexpensive. He goes, did I time it perfectly? No, I didn't. He goes, and then of course he said he sold, I think he said he sold, no, I think he bought in 2012, then he sold in like 2018. And he said, did I miss the top? Yeah, he goes, but they were overpriced. He goes, so I just look at things, is it cheap or is it inexpensive and is it expensive? So when it's inexpensive, I just buy that. I'll never hit the bottom. He goes, but I'm never gonna sell the top. I thought it was a pretty good way to look at things. Is it cheap or is it overpriced? Is it inexpensive or is it expensive? So I gotta tell you right now, like Bitcoin, is if you look at it over just a timeline and go to any place, Ben's got a good one. I think it's inflation-adjusted. And you just take a look at Bitcoin over time. I mean, it's like right now, geez, why don't I show you what it is? Instead of me just babbling on, let's see. So there's this website. Hold on, let's go to charts. Yeah, so there's this website. So into the cryptoverse. And I don't have an affiliate link because Ben doesn't pay me, I'm just kidding. But it is, you can go there. It is a pay for site, just so you know. But there's this chart here. It's pretty simple. It's a crypto market cap and trend line. You can see that. So in red is the fair value. So let's see. The chart shows a crypto market cap with logarithm regression lines. The logarithm regression lines follow the formula y equals 10, eight times ln x minus b, Ben. This isn't Ben's specific thing. He makes his own charts, this isn't one of them. But you can see that there's a lot of times when the fair market value, like look at, when Bitcoin went up to, what was the price? It was around a thousand dollars. It was way, way expensive. And the fair market value was 1.16. But the total market cap was 11. That's like a 10x, 11x bump. So of course you want to start selling. You might want to sell here. And the same thing, you know, around right here. This would have been a great time to buy. 2015 was like a hundred bucks. A hundred bucks, 200, something like that. And of course we went to 2017. And it flipped over in May. And of course it went up. So again, I can't tell you what to do. This isn't financial advice. But like when I look at these things, I'm like, you can just pretty much take a look and go, man, this is like, and of course here we are right now. It's cheap. It's cheaper. Do I think it's gonna go down? Yeah, probably. So the question you might ask is, well, why do you buy every Sunday? Because I don't know for sure. And no one does. If they say they do, they're full of it. So I just dollar cost average every Sunday. Buy my little Bitcoin. And that's it. That's it, that's all. Well, that made sense. So to engine man, thanks for the question. I have bearish tendencies. Oh, really? DeFiDead says, Rob Simon Dixon posted the recording of the Twitter Spaces from 7.7. It has a huge amount of information on what the experienced attorneys on it too. If you give me a link, I don't think you can put it in there. DeFiDead, where did he post it? He posted it on Twitter. He posted it on his YouTube. He probably posted it on Twitter. Genius, he probably posted it on Twitter. Let's see. You can't see me. Here's my screen. Ads, let's see. I think this is it. Yeah, this is it, right here. Simon Dixon. Oh, look at this. Remember this guy? All right. So I will just follow Simon Dixon. And actually, if you look at... Let me retweet. Wow, I need to watch this. I need to listen to this. Excellent. If you... Wow, let's just do this. Hey, there I am. Oh, Chola Quadx, I gotta watch that one. That's... Frankie can join us this channel. Funny, funny, funny. So let me just do this real quick. Ah, let's see. If you go in the links in the description, these are my YouTube channels that I watch almost all the time. Coin Bureau, CTO Larson, Investing Engineering. There's Simon Dixon's channel, so you can find them right there, if you ever. And it's in every single video, so you can't miss it. All right, I have to watch that. Thank you, Crypto Dad. Excellent. Ah, I did not. You know, these guys were talking to me before. Rob, and I've got the gentleman's name from Cornucopias, really gotta get into that. Just been busy. Cornucopias is a metaverse game built on the Unreal Engine, also on top of Cardano, so it looks pretty good. Any other books, Rob? Meditations by Marcus Aurelius, for Stoicism. That's a great book to read. Yeah, so QuickTime says, we can sense most coins each other. How come some coin from one is good for payment? Is it mainly speed? Why don't we use it? So between each other, we can do a lot of things. But then when you are a merchant, now you have to think to yourself, okay, well, I'm a merchant in a store and I want people to use a certain crypto digital asset. So now you gotta think to yourself, okay, well, who has it that's actually adopted? Do you wanna come in there and explain to every single person that comes in like, hey, have you heard about XRP? It's really awesome. And there's this app that we can download and you can send me XRP and I can get it. Would you download that now? And then I can give you your purple purse that you wanted to buy for me and be a nightmare. So really what you gotta take a look at is adoption. Who's actually adopting and who's actually using it? And that is the big thing, which goes back to the Amazon story. Like how many people were using Amazon? Nobody was using Amazon for business. I mean, even though they were growing, they weren't the big powerhouse they are. It just takes time. So between us, we can do a lot of things for payments. The question is, who's really using it? And that's really what it comes down to. You scammin' son of a... So this is Kelvin Mark. Thanks for blessing my day with this great offer. I sent 2.286 Bitcoin, received 0.86 Bitcoin. You're a scamming piece of trash. Does anybody have a wrench here? Who's a moderator? Could someone wipe this junk off? Do you wanna be a moderator? You get a wrench and you get a wrench and you get a wrench. Who wants to be a moderator today? Let's see. Is this it? I have to go to the... This is kind of weird. I have to go to the channel to give everybody a wrench. Wish I could do that in there. Trevor, congratulations. Stop moving. Let's see. Bitcoin August 3000. Making what? Don't move. I'm only gonna give it to the ones that I actually, I know. Sorry. Like VFK, congratulations. Making waves, congratulations. Capo, I think I know. And let's see. Send me a Bitcoin, I'll send you to Neil. Neil Diamond's already a moderator. Yeah, good job, Neil. All right. That's all I know. Okay, let's get back to the stories. How are we doing? 10 minutes, so we gotta get out of here. I got a tricky cheese time with the kid. And here's a good one. Regarding your question, I don't think any real utility yet. Real utility aid of banking unbanked. Yeah, digital IDs, I think. And I'm not even an aid of guy. NFT property contracts, exactly. That I can actually integrate into a central authority because that's the whole point of when you go purchase the home and you sit down at the office and there's all these documentation fees and when you sign everything else, it's the recording fees, which you have to give to the county and the county recognizes you then as the actual owner of the house or the retail space or whatever it is that you're buying. And it actually is there's some centralized way that people can actually figure it out. Now, if you can do like an NFT type of thing where it can go into the county and the county can take a look at it and it's immutable and you can't really change it unless there is some other permissions, then that I think would do real well. And also in fact that you could reduce a lot of those fees, Dell. Do you think Voyager's gonna get back on track for the blow off top? No, I really don't have much, a ton of faith there. I think I've got more faith in Voyager than Celtic at this point, but Luxo. I was the day, I just get curious too much. Yeah, I heard that the creator of Luxo was quite a dynamo. Don't, haven't looked into it, so don't quote me. Brass me, funny. Hello from Mexico, hello. Rob, as you mentioned, $370 million in Alameda will pay back. I wanted that will just be a money stock grab for Stina. That just did, like, we just took a look at that. And it didn't really make much sense to me, which is what I'm talking about here. This, we did talk about this. We took a look at the funded debt, which is like how much, you know, the loans that were given to them and the outstanding loans. So Alameda Ventures, which is a separate company than Alameda Research. Alameda Ventures gave them all this money, all this crypto and money, but then they loaned it out. I don't know the dates though, I forgot. So maybe somebody can remind me that. So as far as a cash grab, that's the whole point of Chapter 11. It's for everybody to lay it out there and then it has to be made public, just like this. Okay, here's a good question. Jeyong Chow. Any chance you think ETH will be considered security-only, Bitcoin will be a commodity? I always thought ETH and Bitcoin would be considered commodity because they're battle tests and essentialized, but I don't know, I gotta tell you, does anybody buy Bitcoin? I don't buy Ethereum that much anymore because I think it's gonna go up. I buy Ethereum for transaction fees. So for me, I think it's a real utility and it's not so much as like an investment contract per se. So I don't know, but if it's Gary Gander's way, it'll be Bitcoin and that's it and then everything else will be a security. What does that mean for us? Well, not a whole heck of a lot, except for the exchanges are now selling on registered securities and then they're gonna take a big hit and they're gonna have to file a bunch of paperwork and they're gonna have to have a lot of money to do such things and also what's gonna happen, I've talked this many times, I think that these smaller projects are just gonna die because they don't have the money or the funds to actually go through the legal process to say if they are actual security. I think it actually might be good, quite honestly, because if they can say, look, if you're gonna say everything's a security and now we have to go through the SEC to get registered just like a regular equity. We don't have the funds for that and we don't have the manpower. So we're just gonna fold up shop and they go away and that's it. Or on the flip side, a decent project will be absorbed by a bigger project and then they'll just share those resources. Memorals, developers, that's so hard to find. Well, guess what? Because you can't afford it, you know what that means? You just got absorbed into XYZ project and now you're gonna start working for them. That's how it goes. And people will say, well, that doesn't sound very decentralized. Work can be as decentralized as you want it to be. Just depends on who you work for and who's cutting the checks. Yeah, a bunch of scammers in the chat. There's one thing I just can't stand. That's scammers. I don't know, yeah, see. Hey, Mac, you're not late to the party. Sam Bakeman's a fraud. Yeah, seem to be doing okay. I mean, so far, tomorrow it could come out that it was all upon the scheme. Who knows? And Sam Bakeman Free was the ringleader. I don't trust anybody anymore. I heard he only does legs, not upper body. When's the chess match? Would you guys really want me to, would you like to see Ben and me play a chess match? To be like Mike Tyson fighting an infant? I would, I even play chess, that'd be awful. Let's see. The only crypto that's possibly probably not a Ponzi is Bitcoin. I don't know, there's some good crypto out there that do, actually do stuff. Yeah, me too. The weather's nice. It's beautiful here. Just, if you, Bickey, if you're talking on Twitter or something, just say, hey, Rob wants to have you guys on the show again, or the first time, it's just that he's always busy. All right, and that's it. Discrimination so much. What? Possibly. All right, guys, it's Saturday night. Let's get out of here. Get out of here, go have fun. Thanks so much for stopping by, I do appreciate. Like today's show, give it a thumbs up, subscribe and all that good stuff, and that's it for tonight. So thanks, appreciate everybody I do, and I'll see you on the next one. Adios.