 What was the last that news my name is Robin really what it comes down to is just Focusing a little bit too much on the short term and data points And what I'm talking about is there was an article came out of BNN Bloomberg And it talks about how Bitcoin breaks away from stocks and 50 percent surged defying Macro-parallel and sounds so good and there was a lot of great points in here I was gonna talk to you about but I'm not and I'm just gonna give you just a paraphrase of what it says essentially what it's talking about is that Bitcoin the crypto market is decoupled and in a correlation coefficient away from stocks And it gives all these data and points and I'm like that's fantastic And I took a look at I'm like I don't think that's right because might take a look at just the correlation coefficient I take a look it's been cited of the cryptoverse and of course We're taking a look at two data points They look at Bitcoin and the S&P 500 when it's positive or above this green line It means things are a mock step. They're doing the exact same things Bitcoin goes up S&P 500 goes up Bitcoin goes down S&P 500 goes down and so on and so forth if it's in the negative It does the exact opposite one goes down one goes up or one goes up one goes down essentially That's what it is. I took a look at I'm like wait I'm just looking at this right here November it was positive now down here in December 20 2022 was very negative So it was what that article said, but I'm like today. He's not that way. It's actually 0.8 It's almost perfectly correlated and I thought well, maybe I'll zoom out a little bit And I did and we can take a look here that yeah looks pretty much what we're talking about for like the past year or so from January It was positive positive positive and then when negative and of course is right back to where it was again And I zoom out even farther in 2011 or so we can see that yeah, it was it was all over the place So I just I'm focusing too much on The short term I got to stop that because in the long term is really where it's at I don't know where you're at or what you're here for I can't give you financial advice on a financial Planner, but I'm here for the long haul in the years But there is one more thing I like to say and that is that it's funny because like if you take a look at or watch any YouTube channel or any type of article in Bloomberg or any kind of you know news article You can see that they'll talk about data points like it is the utmost Thing that's will separate back from fiction and reality all these data points can be manipulated I'm gonna show you something So we have the same thing of Bitcoin S&P 500 logarithmic Pearson. There's a correlation time frame watch this I'm gonna go from 60 days to 30 days whoopsie So we can see that in actuality if we just want to manipulate the data and not manipulate I should just say change data that article is even more correct Today it is actually negative Correlation between S&P 500 and Bitcoin if you take a look over here I don't know let's take the 60 day and just go to 30 day what happens. Well, they're the same thing Then we take a look at correlation 60 day to 30 day So again be careful with when you zone in on the near term because all those data points can be changed quite Frequently just with the click of a button or adding in or taking out some little point And I will just say this if you're gonna focus, you know, you can focus in on the short term But in all honesty like the S&P 500 today looking pretty bad and we'll talk about why but you know over six months Well, it still looks pretty bad actually last five years pretty good And then max looking fantastic if you've been in the market for like 20 years or so same thing with Nasdaq You got one for one day. Not too bad. Take a look at a year. Yeah, okay, not too great But if you take a look at all hey, you know I gotta tell you looking pretty good over over the decades And of course Bitcoin if we just go to this from 24 hours to I don't know say a year Not too great. We just really zoom out looking pretty darn good as far as where we have 670 bucks or whatever else over time. So again the short term It's a little bit hazy sometimes if you want to when in doubt just zoom out things things a lot easier Here's another point everybody's Freaking out about this potential upcoming recession sometimes a large hard landing sometimes gonna soft landing and what he really knows This is an article from Yahoo Finance and it talks about why the market dip today And it's because of two reasons. Well, there's more but this is a good ones Walmart and Home Depot came out This is what they said Walmart warned everybody that it was cautious about the outlook for the economy and said consumers Pressured by inflation shopping for lower price items may negatively impact margins and they hear that like oh That means that the earnings is gonna go down, which means we're going to make that stock go down We're gonna start selling because everybody freaks out same thing with Home Depot. They said hey, we've got some Disappointing fourth quarter results and we think it's in for a challenging 2023 and their shares went down a 5% just from a couple sentences And of course, there's more to that orange report came out and so on and so forth But again, if you're looking at the near term, it'll make you crazy So if you look at the long term people worried about these recessions You know long recessions usually last for about a year year and a half not the greatest time But it is natural. It's a natural cycle. There are no forever bull markets There are no forever bear markets and you're gonna see that, you know over 2008 and 2009 that was a bad one Same to God of that. No problems. We have one 2001 We have back here in the 90s early 90s and in the 80s the 70s and the 60s doesn't last too long Pay attention to the bigger trends Which is over time in between the recessions is economic expansion and we like that Now it just leads me to my last points, which is this I can't tell you what's gonna happen the short term I think really anybody can there's a lot of people guessing out there and they're using a lot of data points But who knows if they're using all the data points. This is what I do a dollar cost average every day And I still think we have some downward momentum to go. So if I'm right great, you know what that means I'm gonna start I get to buy crypto Much lower price and if I'm wrong. Well boo-hoo I get some profits So for dollar cost averaging I do this every day. I buy this Mostly is every day so I buy every week Bitcoin polygon dramatic avalanche aetherian cosmos chain link near Algorand Cardano polka dot and a couple of ones I will not name because they are super risky and I don't want you to fomo into those just because I've heard some good things from some people and that's Really what it comes down to is dollar cost averaging There is a link in the description and I give you five examples and we take a look at Bitcoin How much you would get over he spent a hundred dollars every week and over the last? Cycle we take a look at Ethereum take a look at Cardano and also take a look at dash and salt and everything else I'm not gonna go over it. I'm just gonna tell you that the longer you're in the game Most of the time the better off you are so I'm really not concerned about the short term It's all about the long term which leads me to my last point. I trust So I trust put out an email. They said hey great news We're switching from our custodial partners of coin-based custody in fire blocks What I thought was and we're gonna be using fortress trust and I'm like, I don't know fortress trust is Why do you guys do this to me? We just had a tumultuous 2022 now you got to switch things up I don't understand so I'm like you guys got to get something to show I don't understand what's going on and a lot of people don't either So let's get somebody I'm just gonna tell you there's gonna be a couple parts here I'm gonna give a pushback especially on the yield But just take a listen be right back to sponsor of the show I trust and what they came out and they said that there's gonna be a little bit of a changes So what I want to do is bring in somebody to help us out and that is Jared Feldman And he is VP of client experiences at I trust so Jared thanks for stopping by we appreciate it Thanks for having me as usual Yeah, so we had done now. I've been with you guys now for two years and it's a very Reasonably simple process. I don't want to pay a bunch of taxes when I get older but nine and a half or 65 what not for my Roth IRA and I felt it necessary to put that into me personally a Roth IRA This is the same thing that Peter teal did he that's how he turned $2,000 and a five billion dollars There's a link in the description. You can find out what I'm talking about there But essentially use a Roth IRA and we're talking about crypto and digital assets for ourselves But there was a tweet that was put out and actually an email that came about as well And it said that you guys are moving And integrating with fortress trust company and it means it says here instant KYC processing streamline on boarding large variety of crypto assets additional alternative assets and more I always like that section and more so talk to us real quick about Who exactly Fortress is and why did you guys chain because it looks like things we're doing okay using fire blocks and coin-based custody? For sure and then you and I actually have similar anniversaries with I trust capital I just hit to two plus years myself But it's a really good question I think any sort of announcement like this begs questions and we enjoy creating transparency for our clients I have an expression that I really like and it's what what gotcha here Isn't necessarily going to get you there And this is a prime example of that because we've had a great experience with our current trust company It's called m2 trust services We're going to be moving on to fortress because we see an opportunity to plug in to to more modern infrastructure, especially from a digital asset standpoint And I think that the nature of the question as well Is a good opportunity to briefly talk about our structure because the way that we work There's a lot of regulatory compliance that's baked in to our company because of the fact that we're an IRA provider And any sort of trust company that we use is an IRA provider So if you look at m2 for example They leveraged coinbase prime as well as fireblocks when it came to institutionally storing the digital assets But at the same time Their legal claim to be able to provide an IRA is through their chartered trust entity, right? So there's custodianship of the IRA and then there's actual physical custodianship of the assets So fortress has their own chartered trust through the state of novata And they they leverage As far as I know fire blocks when it comes to the institutional storage for the digital assets themselves Gotcha Okay, so that would take us into you know a little bit of how I get but let's just break it down into a little bit more And get into the uh, we'll say the minutiae of what's going on. So when we take a look here What exactly are they doing that is new as opposed to just custodianship because you guys put out You had a blog post and so you said here's what fortress brings the itress capital plus 30 crypto trading pairs Uh, I'll be honest with you. I mean you guys you guys have that you guys have 30 You guys have a ton of trading pairs actually for In the IRA and you have two metals you got gold and silver which is I own both of those as a matter of fact And also you talk about blockchain payment infrastructure Embeddable account compliance and payment widgets. You said supervised by the Nevada banking commission. That's great Qualified custodian under sec regs Advises act of 1940 usc 408 and then you talk about the audits, which of course is great monthly penetration testing by independent firms And the team itself it looks pretty good. But again, what are they what are they bringing to us besides just the custodianship? So when you talk about your show in particular, especially your show and and the theme over the last few few months It's almost like your campaign no scams zero percent on exchanges You're you're you're kind of hitting all these essential food groups for you and your audience Our audience while we have a lot of people who are content and love the platform the way it is We get a lot of feedback from people a lot of constructive criticism A lot of things that people want to see and it's our responsibility To respond to that criticism and that feedback because we don't just want to say Complacent and keep the platform the way that it is right. So when you look at the fortress opportunity That's what it really brings for us is the opportunity to deliver on a lot of these requests in a more timely manner Just since I started working at itress capital over two years ago People have wanting to see a dollar cost averaging Being able to systematically withdraw money from their bank account based on when they receive a paycheck People want new asset classes people want yield on their usd And these are things that we have not been able to deliver on we've been great at delivering on other things We did a beta for staking. We have conditional transactions, but we still want to do more order types We still want to have better liquidity options. We still want tighter spreads on trading We really want to continue to be ambitious and then and then the fortress Agreement and the arrangement with them is really a reflection of that ambition. So We look forward to having some of those things rolled out by mid-year The most exciting one for me when you look at the press release is the yield on us dollar Because people are not able to get sufficient yield on their fiat in the legacy world right now We're a digital IRA provider We've mostly attracted gold and silver and digital asset Enthusiasts and now we have an opportunity to attract people who might just want to get some yield on their cash While being able to allocate into some of these digital and physical commodities Yeah, I'm with you except for the yield that has been a dirty word. I'm sorry, Jared This has been a dirty word, especially with all the exchanges. It seems like like the yield when you do things what with yield we we saw that in the ponds or The different problems with different exchanges will say like And like a voyager and like an FTX and whatever else and block fi when you talk about yields I mean that could be similarly down the road where you guys are offering that me personally I wouldn't go for it, but I will tell you I do like the the aspect of the dollar cost averaging The ability to put in stop orders and stop losses think of that and actually do a little bit more of trading within your IRA account because it is a it is a tax-free trade that you are doing as long as you You know wait that time and then a host of other things that that you you touched on so These things are good and I will just Would like to talk about this real quick. I think it's important especially mind if I kind of touch on that Yes, you'll think for a second So love love that you're brought it up is one of the first things that I thought of as well There's a big difference between Offering yield on a digital asset or even on a stablecoin Versus offering it through a cash suite program that's affiliated with fdic insured usd So what we'll do is as we roll out that program. We're going to create a A painful amount of disclosures and create a lot of transparency for people so they can see why our program is going to be Inherently different than those programs. In fact when we structure it and launch it It's going to look and feel more like a legacy Just general yield product on cash like you would get through a high yield savings account rather than something that was through A yield program that operated more like a high-risk hedge fund product like some of these other exchange products We saw great. I will wait in the background See how it all goes for you guys and make the decision later. Okay. Appreciate it So on this one on the last part here, which is if we're talking about on balance sheet I know you guys had talked about this before especially for yourself But with fortress they make it very clear I like this whole part as a regulated financial institution if anything happens the fortress And the banking commissioner staff takes control to ensure an orderly secure transition of assets or assets And dated to another trust company or bank assets are not on the balance sheet Which is what happened with ftx All assets are held fbo for benefit of and segregated for each Customer individually and have no risk of third-party claims associated with fortress Essentially what they're saying is there's no commingling of funds. So Anyone to add on this one? I think it's a positive definitely And it's really timely, right? It's when you look at the the news and a lot of the things that have made waves through social media Over the last month or so and the one of the emphasis has been this idea of qualified custody for assets And when you look at a company that has to keep funds in qualified custody It has to be off balance sheet. Well, what does off balance sheet mean? There was a lot of news last year pertaining to Retail clients who found out that the exchange they use Actually would keep the funds for themselves potentially in the event of bankruptcy Why is that? Because those exchanges keep client funds on balance sheet Keeping it off balance sheet makes it not subject to creditors in the event That's something bad were to happen to the underlying company So it's such a powerful important concept that people would have overlooked even just three years when our company was established And now our aspect of qualified custody might become the standard for digital asset Providers throughout the country. So we're really excited by that concept. That sounds good So so look Jared. Thanks for stopping by that explains a little bit more about what's going on because it was I just was looking at I'm like, I wonder why they transferred over because it looked like things were going pretty smoothly But like you said if you want to go into the next next part what got you there Isn't always the same thing and then lastly Lastly, yes, very true. Lastly, I was able to say if you're looking for a link to iTrust This is an affiliate link just so everybody knows we can't stand affiliate links go right to iTrust capital I'm sure you can find the website itself. But if not, there's a link in the description looks just like that there's also a video about how iTrust works and how I've set it up and everything else but that is it so Jared again, thanks for stopping by. We appreciate it for sure. Happy to be here. All right. Everybody's jump back Okay, that's it. So I hope that made sense. I want to thank uh iTrust coming on again The whole thing with the yield gives me PTSD. I'm not a big fan of that But we did talk out where as he goes, Rob, you understand we're not given 10 14 percent 16 percent It's like one one and a half percent, you know, kind of like, you know, T bills and things like that. I go You know what? That's great. I'm still not gonna touch it So I'll just keep doing what I'm doing that seems to work and off you go You can do whatever you want to do It's just the way that I'm gonna go and that's it. So look you like today's video Give it a thumbs up consider subscribing everything we talk about is time sensitive. That's it for today Thanks much for stopping by. I appreciate it and I'll see you on the next one