 Welcome everybody to digital asset news today. We got to go over a lot of things Let's just jump right in the first thing we're talking about is how Ethereum was delisted off of Paxful and I got to tell you the reason behind it and why I support the decision It really all comes down to ethics and what you actually truly believe in Also, we'll talk about is defy the answer as Uniswap rolls out the ability to pay for crypto Not KYC and AML, but with your credit debit card and the fees that are associated with that Also, we'll take a look at housing market recession indicators And then we'll talk about a story about Visa and Ethereum as they partner up great news And the market responds by not doing a thing and lastly, we'll do a little Q&A at the very end So first things first. This was an interesting story and when I first heard about I'm like, what does it make any sense? Why would anybody do that? I mean, it's Ethereum. It's one of the blue chips, right? Well, here's the reason so first things first. This was the tweet. This is from Ray Yusuf. He's a CEO of Paxful And he said look, we finally kicked a three mile farm marketplace 11.6 million human suffer integrity over revenue. Who's next? So before we talk about the why let's just talk about who is this if you don't know Paxful Paxful it is a global exchange and you can buy a ton of difference I mean, you can buy a limited amount of crypto most of them being Bitcoin and there's gonna be kicked off today but it's interesting how you can pay for said crypto and there's 350 different ways you can do it and you can see like you can do a bank transfers online wallets debit credit cards You can use gift cards and that's one of the things that they're trying to get around especially in In Africa where people are using Amazon gift cards To pay for Bitcoin and you can see there's a whole plethora of different ways that you can do it It's an actually a pretty ingenious way to do things especially to get around I mean the massive amount of fees and regulation and things like that I'm sure they're regulating in some ways, but that's what essentially Paxful is and what it does You have a plethora of options and then the question then is well, who are they? So this is their their statement. That's Ray right there. He says Paxful start with a simple mission To empower the forgotten four billion unbanked and underbanked So they have a control of their money in a way. They've never had before and I think we can all you know Get behind that. Here's our product secure built with Bitcoin A lot of different, you know, they're pretty much all over the world 200 plus employees language spoken blah, blah, blah, right? There's a lot of good things. So this is why I have to tell you I understand exactly where he's coming from I mean, we'll get into the nitty-gritty, but here's what he says Hi This is Ray CEO Paxful Right now personally as I made a decision to remove ETH from a marketplace as of December 22nd Why because revenue is nice, but integrity trumps all The biggest problem in the world is economic apartheid. It's the root of all humanity's pain I want to see a world where Bitcoin freeze billions of people. Let me say it again Where Bitcoin freeze billions of people held back by this evil system Especially those unnecessarily harmed living in the global south. This is why Bill Pax will achieve the mission So here's why ETH switch from proof of work to proof of stake proof of work is the innovation that makes Bitcoin the only Honest money there is again. I'm not I'm not saying that Ray is 100% correct I'm just saying this is what he's talking about The innovation that makes Bitcoin the only honest money there is whereas proof of stake has run an ETH essentially a digital form of fiat ETH is not decentralized It's controlled by a small group of people and one day will need permission to use it and I got to tell you There's a little bit of truth in what he's talking about especially with the amount of The proof of stake nodes that are out there and there's been numerous articles and you know, of course Everybody will say well, you know, it gets me gets me more decentralized I won't tell you this if 3M is a little bit more decentralized than say a Wells Fargo I'm just gonna put it out there, but I can understand why Ray's talking about this because he takes a look at Bitcoin and takes a look at the amount of nodes that are out there You know 10s, I mean high or 100,000 now That's that makes it the most decentralized Cryptocurrency in the entire world Finally ETH had some utility on real use cases such as credit and lending But it thrives because of tokenization the tokens that ETH has spawned have been scams that have robbed people of billions They have stolen valuable momentum away from Bitcoin and cost us years on our mission I can't look I can't deny I'm this part and and just hear me out In the world of the internet, there are tons of different scams out there, right? It's not like we're gonna blame the internet for it We're gonna blame the scammers However, if you can get away with it and go, you know what? I don't want to deal with this crap I just want to just deal away with it and all and just protect everybody because in these Countries that they serve they serve old countries a hundred bucks might not be a big deal for you or me However, for someone who makes a hundred and fifty dollars per month or three hundred dollars per month That is a huge chunk of change to lose off of a somewhat stupid rug pull or something that's going on in the DeFi space That's the truth. So what Ray is doing here. I can understand and honestly I can kind of get behind what he's saying here so then in short Our industry is under attack, which means our responsibility to protect a user is greater than ever before We're not perfect. Why is the right decision in this? Even if it's not popular and it's not gonna be popular Even if it costs us money the payoff for humanity will be so great that the billion scammers have stolen via tokens We'll seem like pennies. Yeah, my word is a CEO. We're gonna do this present citizens. So look I Can't fault Ray for doing that. I mean, I will say this if you lead yourself by ethics You can get a hell of a lot farther than chasing money in my younger days I've done the same thing chase money chase prestige Chase notoriety and it never worked out The only time that things really worked out was when I focused on just improving myself and those of those people around me Once I did that things just kind of fell into place. That is just me. You can be different I mean that's just how it is but for Ray to do this I don't blame him and I got to tell you and in in some ways Does Ray have to do anything does Pax will never do anything as far as I remember We're in an open market and we can do whatever we want to do So if Ray says look, I don't want to have a theorem on here because this is why go ahead and do that It's not like we say, you know, it's funny because we're in a decentralized way because we're trying to get a trustless environment Not have anybody dictate what for what for us to do However, you're still gonna hear a bunch people complaining to Ray and saying you need to put a theorem back on You have to do that. Okay. What's next? How about we just put the VGX token on there? How about we put the Celsius he's talking on there? How about we put? Bit connect token I mean, I'm just saying because like it just kind of goes down that rabbit hole like well We're gonna tell you what to do if it doesn't do that in Paxville so much the better So that might be an unpopular opinion, but if you leave yourself by ethics, where can you go wrong? Yeah, let me show you think that about that's in the comments section that will be spicy when we do Q&A And now let's get to I think an interesting story about DeFi because if you don't really like what Ray is doing or some centralized exchange like well, what about DeFi Rob? What about DeFi? It's a pretty great question and There was a post on Twitter. So I'm today you can now purchase crypto on the uniswap web app using a credit debit card Or bank transfer at the best rates in web 3 thanks to our partnership with moon pay And I was like well, that's cool because a lot of people don't like KYC and AML. They just want to use a debit card Buy some buy some crypto and off you go and this is what's going on Sorry today, you can purchase crypto on the uniswap web app I linked this in the description so you don't go to the wrong uniswap is a bunch of scams out there Using a credit card debit card or bank transfer the best rates in web 3 convert from fiat to crypto onto a 3 main net Polygon optimism arbitram and start swapping a minute. So I'm like, that's awesome Well, where is that allowed? Well, I can I don't I can tell you where it's not allowed or I'm living So anyone with supported card can use moon pay services except for residents in the following countries All these right also, Puerto Rico not really a country a commonwealth or whatever even you know, that's what it is and in the US you can except for Texas Louisiana US Virgin Islands Texas residents may complete an empty purchase. So if you're one of these countries, you can't do it. Sorry, Charlie I'm one of those people. I'm right there with you. And when I try to set it up Even with the VPN it was a bit difficult, but I don't really care and this is why Because when I hear moon pay The only thing I think about is high fees You can use moon pay right now on your ledger and you can open that up and you can swap Anything really on on your ledger. However, you're gonna pay between four and six percent and since I was unable to open it It's up. I can just tell you that this is what people are saying on Twitter You can verify for yourself, but moon pay is expensive And they said good luck paying five percent in fees for that moon pay now for some people This might be definitely worth it. They're like, I don't want to deal with KYC and AML I'll pay the five percent if you want to do that or power to you But from what I'm seeing here It's between four and six percent and then if we go back to the article Where it talks about what are the fees This is here from Uniswap. It doesn't say the fees. It just says we got some of the lowest in the market There's no minimum fee. That's cool. There's no spread. I like that Low spreads and processing fees Still think it's high But even if it's let's say it's not four percent or six percent or five or four It's like three or something like that. The question that I have was this well You know, how does that compare like how are we doing as an industry compared to? The old guard the visas the master cards the PayPal's and things like that. I gotta tell you we're not doing too hot So take a look at this first of all I'm in Puerto Rico and everybody in Puerto Rico use this great service called at a chair ATH And I thought it was gonna be super low as far as like the percentages Which what people had to pay to use it first of all for the for the vendors is the big thing and It's all of you's over the island. It's mostly on every bank except for my bank Yeah And it says here low service fee you can receive payments instantly for the low fee of two point two five percent Of the transaction minimum fee is six cents. That's not bad I mean, it's I mean if you think about it's not two point two percent Well, how does that compare to like say a PayPal or excuse me a stripe? Stripe is 2.9 percent plus 30 cents and actually if the more volume that you do it lowers down to 1.9 percent of 1 So for our sports facility, it's 1.9 percent plus 30 cents per transaction fee Which I got to be honest with you is a hell of a lot better than Moonpay and then also if you take a look at PayPal If you buy with PayPal, it's free to use you as the buyer However, if you were the vendor, this is how much you're paying all invoicing PayPal check out 3.4 1.9 percent. All right, not too bad, but QR codes 2.4 QR Coat rent 2.29 pay with Venmo 3. Jeez that is 3.4 That's pretty high. So anyhow when we're looking at this Donate button 2.9 percent, it's all around below 3% pretty good. Now. Let's take a look at the big guy visa You know visa has super competitive rates like if you're going to CPS supermarket debit, it's like 0.8 1.19 percent It just depends on the tier of the people that use or the vendors himself 1.65 percent plus 15 cents 65 cents 1.7 percent and it goes up like all the way It's like a whopping 2.19 or something like that, but you got to go down pretty far So again, when I look at this and I'm like how we doing as far as like industry We're not doing so hot and I just think that of course There's gonna be reasons why and people will tell me that in the comment section But I just got to tell you I think we're a long way from competing with that so let me know what you think about that in the comment section and then I'll skip around Housing market recession. There's just some some issues That we see cracks of course In our economy and the first thing to to bear that out or brunt that out Would be first of all loans car loans Car purchases and then house purchases. It's a little bit slower, but here's what we got New mortgages are down 47 percent 47 US lenders are starting to go bankrupt could this Factor trigger the worst surge of failure since 2008. I don't think it's gonna be that bad, but it's gonna be kind of bad So this is a report from Adam reveals that new mortgage originations mortgages were down 47 percent in the third quarter of 2022 compared to the year before which remember a year before was like all-time highs but So I'm like well, that's not too bad, but there was a almost a 20 percent decrease from the previous quarter And we know things aren't going so good when we start to see originations and mortgages go down and slip Also, I know that there is I I believe that there is a recession coming Some people say it's gonna be a light recessions. He was gonna say heavy. I don't know what it is But I know it's coming and if we just take a look at this is why charts the ten and two-year treasury yield spread We've talked about this many a times A ten and two-year treasury spread Signifies a flattening yield curve when it goes to zero a negative two to ten to two ten to two yield spread has been viewed as a precursor to recession a negative spread has predicted every recession from 1955-2018 and has occurred six to twenty four months before the recession occurs and just so you know We went negative in July of 2000 of this year. So we're already Already five almost six months into it 2023 that could be the year so There's also one more thing I want to talk about as we move in this recession You can look at it was two things I want to talk about you can look at in two ways You can look at like this is the worst thing of all time. This is awful We can look you can look at this as an opportunity I think there's massive opportunities for the ones that are patient And it is a is a dagger in the heart for people who are inpatient Stick around there's gonna be deals to be had and there was a great interview Between Ben here and Jordan worse. I had no idea Jordan worse was before this video and just listen. There's this there's this Document this image that's been flowing around for quite some time about seven years seven years and four years And the things that are going to collapse as far as like The housing market listen to what Jordan says here in like 20 seconds This is pretty actually pretty interesting take That's exactly what it is You know, this this chart has been circulating. It's all out there, you know around Twitter and you know Kind of the real estate verse inside the Twitter world. I've seen it on your channel, and I thought I would address this This chart to me is really based on virtually almost nothing So I linked this video in the description you can watch the whole thing if You are a little jittery don't watch this video because he's gonna talk about some 10-year plays Some bear market blues and some other things also. I found it fascinating Jordan's a guy who's been around since I mean he went through the housing market crashed 2008 910 and he was investing in real estate back then and He's got a wealth of information. He's only got 4,000 subscribers. I find that it's odd. It's just seems like There's just some people that just have a lot of information. No one really finds them So go and check him out check that video out. Let me know what you think but again I see it coming and that interview was quite eye-opening. I will say so then let's finish up with another ethereum story and FOMO essentially so this one here I Saw this tweet and I thought it was pretty interesting because you know ethereum We just talked about you know getting kicked off none of that, but I thought well, this is pretty interesting visa visa and ethereum essentially got together and This is Catherine goo Mark is in for a visa. She's protocol and markets at visa And she says that visa we want to serve as a trusted bridge between the crypto ecosystem and our global network excited share some update Here's the thread. I'm not gonna read it. But basically what it says is they're gonna use smart contracts through what's it called stark and ethereum and They're gonna allow for automatic payments or recurring payment systems by using a smart contract also built on Ethereum and we just interesting and they said this is gonna be the future and we're gonna, you know Really push this this stark way limited L2 network. I always put say a I thought this is great This is gonna be fantastic and it's gonna push a therium up because now a therium and visa looks like they're doing something in Partnerships and I said this I go. Hey if therium price is about to rise how much not sure but the visa news I think it's pretty big. It's why I continue to DCA for news like this and what happened to the price absolutely nothing 0.7% watch out So I thought man this might be a good idea to take some profits But it really didn't didn't work out and that my friends I think how what we can really say that we are in a crappy bear market Because even good news like this is the move the new the needle and that's it for today So look like today's video give it a thumbs up consider consider subscribing We do these things every day is most of the time sensitive But now what I want to do is get into a little Q&A and answer all your questions from Son already saw some comments already should be good and we'll go over that right now if you got to take off Take off. You've been here for 18 minutes. Thanks for stopping by appreciate it. See you in the next one Now let's get into a little Q&A so the Zen Neal says Rob, you know good news and bear market as a move price. I know I thought maybe this would be good I guarantee I can't guarantee you but I think if Elon Musk comes out Everybody loves him says hey, we're gonna start taking payments for for Tesla Bitcoin here. We come I think it would move the price I also think it would move the price if Elon comes out and says you know what I told you guys We needed some kind of payment system or a tipping service here on Twitter since I'm the CEO or was We're gonna use Dogecoin and if that happened I'm pretty sure dogecoin move a little bit just saying Yeah, I'd say I think I'm spoiled with Ada. I got a beef a year ago. Yeah, it is great Got a nice little Staking pool if you'd like to stake with the news we have almost a hundred percent uptime Reasonable rates and just keep plugging along. Oh great Let's see Vicki. Thank you crypto essential down there free website exactly Dr. Payne I just transferred USD for my metamask wallet to an exchange And I can't get over the experience compared to go down a terrible. He's got a point. You know, it's just terrible Staking on on the theorem. It's awful. Hey, I like a theorem. I think it's gonna do pretty well, right? Ray's got a different opinion, which is fine Which I can I can totally appreciate but I will still tell you this if you tried to stake on Cardano It is the bellwether. It is the one that we should compare everything else to super easy to get in and out You get everything on time, you know, you have your those, you know, five-day epics Bing Bing moon everything works and it's just a great experience now a theorem staking good luck And I don't know when you guys gonna be able to unsteak that I mean whenever that Shanghai protocol comes out Who knows what that's gonna be? But it's just way better Correct me where I'm wrong Hey First of all, I I heard that this was a clickbait title. I have to disagree I don't see what's clickbait about this title whatsoever. It is gone from the exchange and it was delisted. We just talked about why so I got sucked in with a clickbait title. Those are just real titles so about report exactly Alex says so we eat the zero. No, it's just Faxos and Ray they have a different mission and they go off on this route. That's okay Okay, tell me what I should name this this then I'd love to hear everybody's opinion of what I should name my videos This ought to be good Yeah, you can buy Ada using your re-alternate. That's a little bit better. I Just woke me through these numbers Ah Yeah, Neil, I had to do an earlier string so I have to go to chiropractor today And then I have to go get my knee checked out because of all this dirt and that's what happens when you You know play a little bit too much and do a little bit too much and don't stretch and all that good stuff Gotta get stuff done, but I will tell you this as soon as I get the Get the meds, I'll be back there playing see Beach tennis tomorrow volleyball on Saturday. Yeah We're not all George. This is true. I like George. I find is I find a show extremely entertaining I never heard about neither did I I mean I didn't and tell a I Actually reached out the rate of trying to help me out to understand What was going on in Africa on the problems? Oh, this is gonna be a good time to stop looks like I Don't know if you guys can hear that. Can you guys hear that in the background? Looks like there's some instruction going on ETH Gensler corruption sure people love George First of all, can you hear that in the background? Because if not if you can't hear it, then that'll be that. Oh, I guess you can well, that's it for the Yeah, that's it for the news looks like I got the I Got the people here for to do fumigation. All right, buddy. Sorry about that. I guess you figured out It's not a green screen. I got to go look like and subscribe. See you the next one. Adios