 Securities. What the SEC considers a security today might not be a security tomorrow. And what I am talking about is there was a interesting conversation between MSNBC and former SEC chair Jay Clayton. If you don't know who Jay Clayton is, this is Jay Clayton. He was the former head of the US SEC from 2017 till 2020, also a lawyer. And I find it interesting that the people who search for Jay Clayton also search for Jamie Dimon and of course Gary Gensler. And the piece, if you think that's confusing what he said here, just wait till we get into it. And before we go on I want to say this is our second attempt at doing a live stream today on Saturday. Unfortunately for today I had some people show up during the first live stream and clean this blue screen or green screen behind us. And when the green screen cleaners come, they make a lot of noise and it's a little bit more difficult so we had to shut things down. But this will be hopefully just fine. So I find this interesting because when we go through this, you're going to ask yourself, well, you know, what exactly is Jay trying to say here? And I think as we move forward, and we're trying to get a little bit of clarity about what is a security and what is not a security, I think it's this type of speak gives the SEC room to pivot, but I'll let you make the judge of that. So when asked if Ether is a security or a commodity, Jay Clayton, this is of course on CNBC, he responded, things can go from being a security to not a security. And he referenced William Hinman, which was the then director of the SEC division of corporate finance. And he said, looking at the way a crypto asset is sold is the best way to sell to say whether it is a security or not. Noting that current offers and sales of Ethereum are not security transaction. Now this was from William Hinman. This is in 2018, a speech that he gave. This has nothing to do with right now. But back in those days, it seemed like Bitcoin and Ethereum were a shoe in for not a security, maybe a commodity. Clayton seemed to agree with him and stand saying, and this is where it gets kind of confusing. And I'm not a lawyer, Jay Clayton is a lawyer. So when he talks about these things, maybe this is just a little bit above my pay grade. But tell me if this makes sense. He says, look, Broadway tickets, Broadway tickets received for investing in a yet to be produced play would be securities. Tickets bought years later to see that same show would not be. Let me say that one more time. This is what Jay believes as a security versus not a security. If you go by Broadway tickets for a show that hasn't been produced yet, that is a security. That is a security. And if you just waited for when the actual play was actually out there and bought tickets, it would not be a security. So if we take a look at the Howie Prom, there has to be some kind of investment contract. There has to be something where it's in a common enterprise. And there has to be an expectation of profits. I don't understand where Broadway tickets received for investing. If you receive Broadway tickets, I don't understand where the expectations of profit would actually be for a yet to be produced play. Because to me, tickets are tickets and is a utility type of thing. But in here, he's saying, no, Broadway tickets yet to be produced play. But if you wait for a little bit later, that's okay. So here's the question I have for everybody else. If you have a blockchain, let's say Ethereum is already there, it's already decentralized and everything's out. And you use Ethereum because it's already out there just like this show is. And there's no expectations of profit from Ethereum because you're using that for actually like a utility just like the tickets. Then what's the problem? Where are we here with the securities? Because the way that Jay breaks it down, the way that I see things, it kind of looks like if you have a blockchain, if you have a crypto on a platform, and you're using for a specific utility, and it's already been produced, it's already out there, that I don't understand where the problem is. Now, this is just me is lame and looking at things. But this is what Jay Clayton believes. And then finish up, he says, Ether has many more hallmarks of just being a ticket. And it does a means to raise money. But I gotta tell you, there's a lot of things like that. Now, Grant was just came out and the SEC says that that is potentially a security as well. But doesn't that the same thing? There's already out there. It's already decentralized. It's already being used as a utility. Maybe I'm just seeing this as a very layman. But that's what Jay Clayton believes. Anyhow, let me know what you think about that in the comments section. And then also, lately, we've been seeing a lot of different negativity, especially around crypto, and more so about Bitcoin, and the amount of energy it uses, there's always something that that's going to be said as far as energy use. And then also, of course, listed activity. This is a fact sheet. From the White House, climate and energy implications of crypto assets in the United States. And it just talks about how vast amounts of power that Bitcoin actually uses. And, you know, it's true. But there's a couple of things I think for people to remember. And this is a good story about how electricity is being used to mine Bitcoin, to do other things to fund an entire village. So this is from post from coin desk. And it talks about the problem, as far as people having no access to electricity, which you would think you don't have access to electricity. Well, well, should we be using that for for Bitcoin? Maybe we should just take all that electricity and give it to all these people that don't have it just wait. So in rural Africa, there's two reasons people don't have electricity, either lack of disposable income or lack of infrastructure. And they can choose and said you can either choose between if you don't have income to ration funds for other things like mobile data on their smartphones, because it doesn't matter, you know, majority of the world actually has smartphones right now, it seems crazy, but it's true. Africans have adapted so called micro grids. It's an electrical grid that contains both the generation of storage of energy and distributes it to the immediate surrounding area. And rich of these micro grids, the smokes are called micro grids. This is where it gets interesting. In March 2022, there was a startup gridless. And the main aim was to offer affordable energy through micro grids, Bitcoin just enabled it. Gridless partners with an energy producer to co locate a Bitcoin mining operation with the production point of a micro grid near a rural community, whatever electricity isn't purchased by the community is used for mining Bitcoin. The mine Bitcoin then leads itself to more profitability. Next question you might have is well, how do they produce electricity? Very simple. This is it. It's just hydroelectric plants in small, small rivers located throughout rural Africa produces electricity, the electricity that is not purchased by the village that it's supporting goes to the miners. Because if not, it would just been lost. The miners then mine Bitcoin, they sell the Bitcoin, and they make everything profitable. So to me, like I look at this thing, and it's the same thing, it got me thinking though about how much electricity are we wasting because there's always going to be the politicians like an Elizabeth Warner comes out and says, you know, this is the worst thing ever for you for the environment and we're wasting all this electricity. But I got to ask myself like, well, how much is actually being wasted? This is a report from the US Energy Information Administration. And it's not it's relatively recent 2020. More than 60% of energy used for electricity generation is lost in conversion. So maybe it's not so much that we're not producing enough electricity, but we're not efficient enough to use it. The tech and type of fuel use to generate electricity affect the efficiency of power plants of the 11.9 quads of natural gas consumed for electricity generation, natural gas plants convert only 45% into net generation of electricity by contrast 10 quads of coal convert 32% into net generation. That's not a lot. And then if I take a look at it. So again, if we're taking a look at the electricity that's being used in Bitcoin miners, why can't we just use the overflow? And if we're using too much, why can't why don't we just turn it off? Well, that's exactly what happens. For riot blockchain. This happens right here in Texas. And you probably heard about this, I'll just remind everybody that when the electricity grid here in Texas gets over tax, especially when it gets too hot, they just ask the Bitcoin miners, Hey, all that excessive energy that we were, you guys were using, because you know, you're a paying customer, and we're on a free market society, we'd like to shut off your plant so we can give the electricity to all of our people here in Texas, and maybe not overload the grid so much. Sure. And they do that, and they make money. And then when the electric grid goes, okay, we're good, let me turn it back on. And then on top of that, if we're going to take a look at just waste and things that maybe Elizabeth Warren should be aware of, you know, a lot of Bitcoin miners, they use gas flaring. So this is just excessive energy that just blown off or natural liquid gas. And if we're looking at the ESG compliance issues, this is a study and problem of gas flaring 2020, the World Bank are everybody's favorite estimate that annual gas flaring had increased to 5.3 trillion cubic feet of natural gas, the highest in decades. So let's just blow it off into the atmosphere, not the greatest for the atmosphere, and just waste it. You know, much that is, that's 25% of the total US consumption. That's a lot. And a matter of fact, it's equivalent to 25% of the US yearly gas consumption. So if we could capture this, and use this for Bitcoin miners, I don't get the problem. So again, these are just some of the things that come out and I take a look at I go, why are we complaining about this part? But it's either here or there. So let me know what you think about that. And then to finish up, I know that everybody's talking about this is the greatest bull run. And we're gonna, you know, just keep going up a little bit of pullback. But we might see all time highs this year, people have been talking about maybe 100,000 Bitcoin. And I'm just kind of concerned that that might be it. I know people will say, Ah, Robbie, just too, too bearish. But I mean, just some things, you kind of take a look around. First of all, Bitcoin's gone down 10%. Doesn't mean it can't retrace. But that's where we're at. Also, as of April 7, I don't know if people were talking about this or not, but Apple has been selling up a lot of their shares on top of BlackRock CEO Larry Fink sell 7%. So it's a little bit different from traditional finance. And of course, of course, our markets, but just take a look at what's going on. And the last time we've had a lot of people sell off. You know, and that was December 2021. Got even people like like Elon Musk, Tim Cook, Jeff Bezos, they were selling a lot of their shares. And guess what time to market perfectly. Now we've got Apple and black with the same thing. So insiders have sold over 40 million shares of Apple since March 22. Apple's largest supplier Foxconn reported 20% decrease in sales. Say the sales will continue to crease through Q one low demand for VR headsets. And also Apple is lagging the AI race compared to Google and Microsoft. So who exactly is selling off? Well, there's this guy named Tim Cook, who is the CEO selling about 9 million or so William and Jeffrey, the COO, Catherine Adams, General Counsel, Chief Financial Officer. And then of course, you've got a lot of Tim Cook here, Catherine Adams, General Counsel, and so on and so forth. So the people that are selling off for the people who probably know the best have the most data, but that's just what I see. Also, Larry Fink, head of BlackRock with his 10 trillion assets under management, just sold 7% of a stake in the company itself. Any net profits of about 25 million. Not saying that's bad. I'm just saying that's what it is. Last week, the New York based company reported an 18% drop in its first quarter profit, but trounced the analyst estimates as investors continue to pour money into its funds. So, you know, the investors are pouring money into it. And Larry's like, well, it's time to take some profits. I have nothing wrong with that. I'm just saying, before we believe that we're going to go to a massive bull run, take a look at what's going around in traditional finance and the people who have some birds eye view of what is going on. So that concludes everything for today. Also just real quick, there was a great video from Aaron Bennett. There's been some updates as far as Celsius goes and illegal notifications as far as earn and custody. So there is a great video I linked in the description. And underneath there, you'll be able to find as far as like the claim filing process and all that stuff. In the in Aaron's video, it'll take you to this document. And all you got to do if you're a Celsius user of your their funds trapped like me six figures. Anyhow, if you just scroll all the way down, pick the letter of your first name at your last name. And you can find if you have a claim or not right here. And it breaks it down by earn and custody, and what you need to do, which will be on that website. So excellent video from Aaron. And that is it for today. So look, I guess second time's a charm. Sorry about the first one. But just like, it's just like investing, you know, things don't go right. That's happens. You just have to get back on the horse and just do it until you get it right. And that's it. So look, like this video, give it a thumbs up, consider subscribing all things to talk about our time sensitive. And again, this is not a set and forget it. A lot of things are going on. So right now, that'll conclude for the news. If you want to stick around, we'll do a talk and answer all your questions, the best of my abilities. And then go from there. So thanks so much. We got to take off, get out of here. See you on the next one. Now, let's get into it. Oh, also, I've got to talk to you about gala. So gala is going to be doing not an airdrop, but a swap gala version to gala v2. And usually when they have those types of events, as I understand it, it's gonna be a one to one swap. So when you have those types of events, usually there's a nice little run up in price, not financial advice, but that's just what I've seen in the past. So the interesting take on what happens. I'm a fan of gala and what they're doing, but we'll see. Now we'll get into your stuff. There we go.