 So I hope that answered some people's questions. And I don't think it answered everybody's questions because there's a lot of questions in the chat. So what we're gonna do now is we're gonna transition from the interview to the Q and A, and I'll answer everybody's questions to the best of my abilities, even though there may be some questions I would like to shy away from, but you can't. You can't shy away from tough questions, you gotta go from there. So let's just jump into the Q and A. I start a bunch of them, so let's just go with that. Hop, hop, hop, hop, hop, hop. First of all, Roy, 2021 crypto adopter here. Sorry, Roy, crappy year for you. You advised me to get off crypto exchange rate this year, not soon after Voyager collapsed, I've seen advice, thanks so much. That's why we do the rules, of course, right? But to get into Roy's thing is, let's be honest, I didn't warn everybody in time for Celsius. I did it the day of, it was in the morning and 11 o'clock and then by 9 p.m., the things were shut down. I thought, or Celsius was napping up and it was not. Everything works out until it isn't. Everything's cool until it's not. And that's just one of those things and I still got six figures stuck over there until it is. Voyager at least to give you two weeks, but I still have some crypto stuck over there and thank God in doing it with FDX. So here we are, so you gotta understand, take it with a grain of salt. I am not perfect, I get things wrong, I screw things up, ask my wife, she'll tell you. Okay, so trust me, bro. Yeah, and there has been some comments and unfortunately what it's negative and positive for this our market, which is, you know, the Alex's of the world and the Sandbake Manfrids of the world, they screwed it up for, they didn't screw it up for everybody. They screwed over a lot of people and it makes us trust less. Is that a bad thing these days? We have to trust less so we don't keep getting rug pulled like what we're having right now. So I know it's awful here. There's a lesson everywhere and I gotta tell you those things, of course my scripts too, this leads us to not trusting a lot of people. So that's just how it is. You've gotta earn it these days and if you can't earn it, then you're just gonna fall by the wayside. And I think the exchanges and the projects and the programs that make it through this are the ones that people are gonna look for and go, those guys made it after that crappy 2022 year when everything imploded and collapsed. What did they do differently? Oh, that's right. They were honest. They kept a breast situation. They didn't make sure that they commingled the funds and use them to buy their condos and their houses in the Bahamas which is what FTX apparently had done. They were honest with their customers and they were prudent in their spending and they grew slowly, but they were able to do it over time. Anyhow, Jeff Hughes says, slow and steady wins the race, trust no one. I gotta agree here. If you can't hold it besides real estate, you don't own it. And there was another question, I think it was from Nick, Nick Lucal or somebody. They go, Rob, how can you justify with I trust? Because you're always talking about, let me, hold on, I'm gonna hide you for a second, Nick. I'm always, I'm always, where am I? Oh, here we go. I'm always talking about these rules, right? And one of those rules is don't leave anything on exchanges. Is I trust not an exchange? It isn't an exchange. So how can I, how can I market with that and say 0%? Here's the thing. Everything, everybody has a risk tolerance. So for me, when I say exchanges, I'm trying to say, I'm trying to say it in the best way that I can say it possibly. Don't leave anything on exchanges per se. However, with I trust, it's a retirement account. The principle is I don't want people to take their life savings and all the money they have and then stick it into like another Celsius and leave it there and then get rug pulled. With, again, with I trust, when I'm talking about those things, no, you don't have control of your keys. No, you're not gonna be able to do everything on cold storage, you yourself. However, if things go sideways for whatever reason, even though Kevin just talked about, he said, look, he goes, we're not gonna do loans. We're not gonna commingle the funds. We make it very simple. Here's how we generate revenue for our company. It's by fees. It's by the trading fees. And there's a reason I think why, say a coin base and a Kraken and I mean, even a Binance is actually up and running and OKX so far is because they did a very simple thing, which is like, look, do you want this crypto? Okay, well, here's what we're gonna do. There's gonna be a buyer and a seller and we're gonna charge you a percentage and that's gonna be our fee and that's gonna be our revenue generation. It's the same thing with I trust. If for some reason, some, I don't know, something happens where coin-based custody, which has all of micro strategies, Bitcoin, correct me in the comments section. I think they have all of it, if not most of it, then micro strategy loses everything, all the different institutions that have all their crypto moves everything. Of course, I trust goes away because they have it on two places actually, fire blocks and coin-based custody. So when you say those type of things, no, you don't, but it's not gonna crush me if I lose that $1,900 something dollars right now in the retirement account. So all that makes sense. Then, where'd I go? Nick says, well, I find this a direct loss in a platform. Luton Celsius wrecked me good. That said, still filling FTX file, but I'm buying now, I'm gonna rise out of the ashes. It's pretty good. It's not a bad way to look at things. It's not easy though to come back after those beat downs. Nathan says, I wouldn't trust, I trust unless I control my own keys, which you cannot without setting up a corporation. That is true. A lot of people talking about, well, Rob, what about like a pure self-directed IRA? Well, I mean, digital asset news is a LLC. So in a certain way, shape or form, I could actually do that. But then I have to file the paperwork. They have to prove a lot of things. And then the expense could be a little bit higher than what I'm used to. So for me, I'm like, I'm gonna balance it out and just say, I don't wanna do that for me. If someone wants to start up their corporation, file the paperwork, go through the quarterly reports or anything else, you can do that. Or you don't have to do anything. You just sell your hands and don't say, I don't want this. And that's it. But in this situation, I'm just gonna use that trust and keep it going. Again, not gonna crush me if whatever happens. He goes and then Nathan says, I tried to set up an account with them, but the process seemed quite shady. So I backed out. Everybody's got a different opinion on this one. Like, you can look in the comments and people say, well, I did it, worked out pretty well. But for Nathan, it didn't, for whatever reason. Like I, from my experience was this. I sat down with the guys for 30 minutes and I'm like, I don't know if I even need this. And they said, well, you might not, this might work for you, but this doesn't work for somebody else. And they laid it out why this could actually be good for me, especially as far as like a Roth IRA, which is post taxes. You know, you pay something in taxes, you put it into the, to your Roth IRA, then if it's nine and a half years old, then you can take those things out. Which coincidentally is how Peter Thiel did it. He took his, the stocks and PayPal when they were worth pennies and a dollar and stuck them all in a Roth IRA. Guess how much that's gonna be worth when he turns, I think he's almost 60 now. In a couple of years, when he turns almost 60, 59 and a half, it's worth over $5 billion. Now it may be a little bit of fluctuation, but guess what, that's five billion tax free. And that's the power of the Roth IRA. All right. And then, this is funny, Siboku, Siboku. I smell a centralized shill. Look, these are the tough questions and this is what it is. So as far as like for this one, now remember I am biased, I use them. They have been, I have affiliate links. You don't have to use the affiliate link. You can go right to I trust capital and they are a part of the show. So as far as like this centralized centralization, it is centralized. If you don't wanna do this, don't do this. This is just what I'm doing. And my goals are not your goals. Siboku says Bitcoin is trustless, no need for I trust capital. Well, I mean, look, if you wanna, if you're talking about capital gains tax and you wanna put something away, as far as like a diversification like what I do, then it might work out for you. Or you could just go and everybody's different. Like somebody will say, Rob, I'm not gonna do anything with real estate or with my business or with businesses or with stocks. I'm going 100% of Bitcoin. Cool, do that. Do that. And that's up to you. You do you and I'll do me. And I'm just trying to bring different options to people for what's out there. Let's see. Fit connects as I trust nothing. That's pretty good. Corolla says, if you continue to trust these people, you're the fool. Yeah, perhaps. So far, so good. Jeff says, absolutely diversification, gold silver Bitcoin, a little real estate, at least your resistance, you can swing it. I believe so. And then, well, this is all from Siboku, Celsius 2.0. Again, you have to understand where the revenue generation comes from. So the question is then, well, how did Celsius get that yield? Well, they did a bunch of loans, right? Which was double, you know, double collateralized. And then, of course, there was different loans on collateralized, uncollateralized way to institutional investors. And it was the big circle. And you could see that they were loaning out three hours capital and three hours capital was loaned to somebody else, then back to Voyager and then back around. And before you knew it, it was all just like really a Ponzi essentially. So Celsius is a bad example, I think. Again, how do you generate revenue? Where does your funds come from? Do you commingle? Well, again, 1% for the trading fees and that's it. Heck, over on, I think, correct me if I'm wrong, but aren't we looking at between 0.5 and 1.5 for Coinbase? I know Coinbase Pro is different, but that could be wrong. And then CL says, why do my API links and CoinLinks are often not captured the original cost basis? I have to spend hours sorting the original purchase out at the end. Even more confused, fix this. I will pass it on to David and go from there. And see what happens. I personally, when I use CoinLedger, usually everything's pretty well, does pretty well, but there's always a hiccup. Nothing's perfect, right? So when I have an issue, I send them an email within 24 to 40 hours. I usually get a response back and then off I go. Although the last couple of times I haven't had an issue, so then okay, let's see. And then Navasta says, again, this was the question. How do you reconcile it with holding the keys to your crypto? You know, I against the old saying that you can do, which we answered a little bit ago. Again, it's all about what you wanna do. I personally, I'm not gonna hold anything on exchanges, exchanges. I trust is essentially an exchange, however it is in a cold storage, but you don't have your keys. If you don't wanna take that risk, I feel between two to 3% of my general portfolio is okay of a risk assessment and I'll be okay. I'm not gonna get crushed if it goes away. Jonathan says, I've had a good experience by interest so far. So far. As soon as I signed up, I got a call from them and answered my questions, makes sense. Nick Lucal, Kevin, the question was, is staking native or rehypothification of our assets? So for, for I trust there's no rehypothification, right? They're not gonna take your funds and your fractionalized credit lending, which is what Celsius did. What actually your banks do essentially? So the staking is through the actual protocol. The only staking that they have right now is Polkadot. And Polkadot, there's a great website. It's called stakingrewards.com. Wow, it's crazy. So right here, this just gives you a general assessment of how much you get. So Polkadot right now, the rewards, that's maybe your own per year is 14%. And that could fluctuate. And then the adjusted reward, the amount of reward rate just by the inflation of the network supply. So of course, yes, you get some in, but you don't really get too much, but still you get, if you're gonna sell these things and price goes up, yeah, it is what it is. So with, I will just tell you this with I trust, you can stake your ledger and they're gonna get the rewards. However, and we covered this when it went live, just know that you're gonna get, let's say you, you stake a thousand Polkadot. And over the year, you get, now let's just say a hundred. Math's not my strong suit. So you say I have a hundred and it's like 15%, right? So you get 15 Polkadot, good, good. So we get 15 Polkadot for the year, it's not bad, right? However, out of that 15, you're not gonna keep all of that. I trust it's gonna charge you 20% for the staking. Before it was like, well, that's just highway robbery. All right, remember this, you don't have to do anything. They do all the work. Oh, and then also it is tax-free because it's in your Roth IRA. Does it change things? Well, there you go. So just remember it is 20% and that's the fee that they charge. That's how it is. And I hope to answer your question about that one. Jackal's got a good question here. What happens if you hold some digital assets if the government deems to be security? So remember, if the government comes out tomorrow and says, hey, guess what? Everything besides Bitcoin is a security. Okay, well, who does that affect? Does that affect you? Not really. Who's it gonna, it's going to affect, is it gonna affect the project heads, the project organization, and of course the exchanges that list those securities. What's that gonna mean so they're gonna have to go to the SEC to Gary who watched the show and say, Gary, okay. So we are now have a boatload of unregistered securities that we are listing. What's the process? Well, this is just, you gotta pay some fines. You gotta pay some fees and go through the legal process. Now if you go, then for the protocols themselves, they're like, hey, did you know that you're dabbling in unsecured securities? So your ICO or whatever that you did, just like with EOS, Beardy, you're gonna pay a fee. You're gonna pay a fine for that. And then everything's good going forward. So it's gonna come down to the exchanges and the project heads now, as far as like with I trust, well, they're gonna have to register all these securities. Does that affect you? No, not really. It's gonna affect you in the long run probably. Maybe some fees go up. I'm not for sure from the platform. I can almost guarantee you're gonna have to pay a little bit of more extra when you're doing trades. That's it. And then Wayne's got a good point. Why does anybody seek yield on Bitcoin? It's doubled in price every 12, 24 months for a decade. Oh, that's true. No. So I guess it depends on where you take it. So like 2017, you didn't hit that 20,000 price tag until 2020 again. So, I mean, we'll say every four years, let's just say like this. Why do you wanna keep yield? Because they're greedy like me. And that's just the truth. All right, what else did I miss? After these last few months, I have trusted, everybody's got trust issues. You gotta be careful. And you gotta say, well, does this seem legitimate? If I wanna do this, is this my risk tolerance? It's up to you to decide. Just tell you what I'm doing. And that's it. That's what I'm doing. Thanks, Marty. I try. Yeah, Johnny says, just cuss at them yourself. You can do it, but just know that when you, you know, when you cash out, you gotta pay long-term capital gains to the government. It just depends what you wanna do. Tarny to the party. I never heard that, it's funny. Trust wallet is hot storage, I don't trust it. I've had a lot of people say that they like the trust wallet. I never used it, so I can't tell you. This is where I wanted the conversation to go. I hope so. Yeah, it depends on your own tolerance. Like some people are like, nope, I don't wanna do it. And I'll be honest with you, if you're here in crypto, you have somewhat of a risk tolerance because let's be honest, crypto's pretty damn risky. I mean, in all honesty, you could just get into T-bills, right? You can just get into treasuries, just go, I like 3%. That's it. Won't keep you up with inflation, but that's okay. At least numbers go up and that's it. But then there's other people who say, well, I got massive risk tolerance and I'm gonna dump everything into Shiba Inu and Dogecoin. Just depends. A lot of people out there, a lot of options for you. Yeah, I do the same thing. Yeah. If it connects, it's actually a good point. What actually could bring down on treas is what people want to know. Sounds like the my risk is with who they use for storage and how are those entities gonna play off for the next 10 and 20 years? I guess it depends on, well, you have to understand though that let's just say, for instance, that Fireblocks is like, we don't wanna do this business anymore. Okay. Well, it's not like you just lose everything. You just transfer everything. It'd be like, it's like when your local credit union says, you know what, we're gonna shut down. We just can't compete with these big banks like Wells Fargo and all the different ones that are out there, JP Morgan and stuff. So we're gonna shut down and you have to move your funds within 120 days or whatever it is. That's happened to me before. And you just move your funds to another bank. That's it. Lord Smith says, grayscale Bitcoin is in a trust, they dot, you need to do proof of reserve so I've been verified. Man, proof of reserve is actually a good thing. You know, I think I should bring that up to Kevin. Well, I have no pull, but that'd be interesting, right? Would you trust, I trust more if they went through proof of reserves? I think that is a dumb question I just asked you, but I have to ask the question. If let's say they had proof of reserves and they could show you, you know, how much crypto they have in coin-based custody and fire blocks, would that make it better, easier for you to say, pull the trigger or not really? Let me know. Oh, this is a great question. So Rubin says, with I trust, is the gold and silver a crypto? I wanna confuse it's gold and silver real or is it gold, silver represented by crypto? That's a great question. So it is actual gold and silver and what I need to do, let me show you. Because remember, it's a Roth IRA account. So it doesn't just have to be crypto, they just specialize in crypto. That's why they have gold and silver. That's why at the end of the conversation, Kevin was talking about an REIT, a real estate investment trust or fractionalized shares of real estate. Because it's legally, the Roth IRA is a Roth IRA. There's no like a separate designation for a crypto Roth IRA per se, but I'm aware of. And that's why they have gold and silver, but there was, let me go back here because they actually store the gold and the Royal Mint, the Canadian Royal Mint. I just wanna make sure I find it. Okay, here's Coinbase and Fireblocks. Oops, how it works. That's what I was looking for, precious metals. Ah, okay, physical gold and silver. I trust Gaby's Vault Chain Investment Grade Gold and Silver held physically at the Royal Canadian Mints with ownership manager via secure blockchain distributed ledger. Ah, okay, so you own it, but the terms of the information is actually on blockchain. Okay, how I trust gold and silver is that simple. Physical gold and silver, not a security derivative future or other financial contracts. Clients buy and sell 20 or seven from the personal dashboard, blah, blah, blah. Fully backed by physical gold and silver at all times. Okay, there you go. Okay, that was a good question. And I forgot about that one. Ah, let's see, let's see, let's see. What I miss. JT's got a good point. Kinda surprised that proof of reserve is not a standard thing already. Hopefully that'll be the way. So we were talking about this yesterday in the DCA show. Did you guys watch the DCA show yesterday? Woof, spicy comments. But one of those things I didn't make it abundantly clear was when we talked about regulation because when we talk about regulation, yes, there are, the US crypto exchanges are regulated in some way, some way by the US government, but banking license and things like that, whatever. But one of the things that is not, and we've seen this issue, is with co-mingling of funds. And that's what happened with FTX. See FTX, they took your crypto and everybody else's crypto and everybody, and they just put in a big slush fund. Okay, here's all our money. Well, it wasn't our money. It was my money, your money. Actually, I didn't really use FTX, it doesn't matter. And I used it a little bit and it's true. So all that was co-mingling, and then they would make the loans and do whatever they wanted to do. And they would ship it over to Alameda Research, which is their investment arm, and they would invest in the projects, but it was all your crypto. So what I was talking about yesterday was, and Gary, I hate to say this, but here's a very unpopular take, but Gary Gymsler did one that against Coinbase when they tried to come up with their earn program. Said, look, and then also he had a big question about co-mingling of funds. And now we know that's one of the downfalls. So I said, okay, they're regulated right now, but there should be a standard in place for all exchanges. Just like the basics, right? If you're gonna do loans, you got to have a separate entity for that. If you're gonna do a yield generation, you have to have a separate entity that you can't just have everything to slush together. You have to have not co-mingling of funds and just everything separated and also be able to, and even Jesse Powell, former CEO of Kraken goes, you guys, he talked about the SEC and government screwed up by not giving them guidelines and a managed process. I think that's the basics. If you can get that part, cool. And then the next part would be this, which is if you wanna have the gold standard, healthcare does this, construction works does this. And then also like, there was even a gentleman, Gerard, I forgot his last name, but he did a tweet, he goes, he'd worked in nuclear power plants for 30 or 40 years, a nuclear engineer. And he said, we are regulated by the government, but to keep the gold standard, we would all self enforce these different rules on the difference nuclear power plants. And that would raise our levels. I don't see why exchanges can't do that. So like here, what JT is saying, the proof of reserves is a great start by CZ Binance, great. Just the bare minimum to get us in. And then the ones that go above and beyond, I would sign up for those and say, oh, okay, well, here's all the transparency. Not only are we gonna give you the proof of reserves, which is our assets, here's our liabilities. And here's how we structured everything. And here's how it all works. And here's how we're not co-manualing your funds and if you can have something like that come out, but you have to, let's just say that they say, well, our rates are a little bit higher because of that. Like instead of paying 0.1% for the trade fee, now you gotta pay a 1.5%, I would pay that. I would pay that just to not have to deal with the ambiguity. However, I would still keep everything on my ledger as much as possible. And yeah, Louis says it right, proof of liabilities, perfect. Did I miss something? Okay, okay, sorry. Let's see. The only, the only real trust is full transparency. Yeah, why would it be risky to be honest? Exactly, honesty and proof reserves. Where am I gonna be announcing it to you, but it's lucrative. This is the thing that I always question. Like if you have a great business and you wanna be here 10, 20, 50, 100 years and you wanna leave something to your kids and grandkids, why don't you just do the right thing? Just do the right thing and go forward. See, but that's a problem. Like this is my flaws. I always think people are gonna just do it like how I think they're gonna do it or like me, but my wife reminds me that you don't understand just people that are just going to steal and pollutes and make a quick buck and leave. I guess a slow, a slow nickel's better than a fast dime, it's an old thing, doesn't matter. Stunard says, why am I now hearing about FTX having no Bitcoin and balance? You have to understand there's some nuances there. As I understand it's the no Bitcoin on the balance was right, that was a snapshot of a spreadsheet after they did the chapter 11 and they actually have it, but I'll have to take a look at the information again, as I understand it, they do have Bitcoin just not as much. They thought they did. Is USDC safe or SAFU, CZB says it? It makes me not wanna be in stables, the different things that are coming about. So I don't know, but isn't it funny how we talk about how great crypto is and how it is to go out of the system yet? You know, where do you wanna put your money? I'm not putting in stable coins right now, especially Tether too, even though Tether has stood the test of time so far. That's it. Yeah, maybe that's a good point. Why can't there be something like the FDIC insurance for exchanges? Who's gonna come along and ensure that? That's a good question. George says, how does staking work and I trust? It's pretty simple, you just log into your account and then you'll say, cause they only have one now, polka dot. Do you wanna stake this? And you say yes. And are you okay with the terms and conditions and you read it and you figure out I was 20% for a fee? Sure. I'm not doing anything for it. I get 80% profits. That's pretty much it. They stake it for you. Thank you. And that's all. So Dr. Payne says, self-directed IRA I'm able to stake for my heart of wall. That's true, but I believe you have to be a corporation. Maybe Dr. Payne is doing that. This is for other people who may not have a corporation or just don't wanna do it. It's funny how everyone is so focused on honesty, securing your crypto yet no one wonders what the additional banks are doing with their funds. We know what they're doing with the funds. It's called fractional reserve lending. You put in a hundred bucks and they say, thanks for a hundred bucks. And then they just create another 99 loan and all out. Double E says, Rob, can you have a video on to track your cost basis? Yes, I will do it. And I just gotta find the right program that does that. I've had some people say, this one does agree with me. I don't know. Showstop spamming. Ah, right. I think that's it. That's it for today, everybody. I gotta get out of here. Today's, yeah, Dr. Payne, what's just that? Payne, how do you initiate that self-direct? I'll stick around for this one. I wanna know this one. And also, has anybody found a way to bypass any centralized exchanges? Someone told me that you can sign up for TrueUSD, link your bank and get that stablecoin and then just go through DeFi and buy everything that way. I wanna see if that's true. I can't do it because I'm in Puerto Rico and Texas and Panda Pi, Panda Pi says, this is my first real bear mark. I'm amazed with the change of speech about crypto when Bitcoin fell from 20k to 16k, but we know where it's going in the end. Up. Yeah, I mean, I kind of felt like this was gonna be, the language has been pretty tame, quite honestly. In 2018, 2019, you understand, there was no real institutional investors coming in. There was no talk from the White House of regulating and even doing anything with crypto because it was laughable. And people did think that it could go to zero. And now it's not the case. And I'm just surprised at just how many exchanges collapsed. And I don't think that's the last one either. I think the ones that don't have a good business model and just we're doing a quote unquote circle jerk of just transferring funds all the way around everybody to get to gain yield and doing crazy loans, those are the ones that are going out. Or who gave loans out to other industries and then they got sucked up by three ACs and FTX and all done. Oh, okay, that's how we did it. So we did a trust, understood, I know it's a lot of, a lot of lawyer meetings. So yeah, you can do a trust and do all those things, but trust me on the trust. It gets a little bit confusing and you gotta set it up with lawyers and you gotta do it the right way. And inevitably someone's gonna say, yeah, I did it myself. You can, but just know there's a lot of loopholes and a lot of legal trip ups if you don't do it right because you gotta have it for your kids. And that's it. And that's it everybody. Hey, get out of here. I gotta go play. Time to go to the beach, go play a little volleyball today. That'd be fun times. That's what I love about Puerto Rico. There's always a game somewhere. Anyhow, that's it for today. So look, thanks for sticking with me for an hour on a Saturday. If you liked today's video, give it a thumbs up. Also consider subscribing to all these talk about our time sensitive. But that is it for today. Thank you again for stopping by. Don't forget, tomorrow I got my man Tom Crown on that we did an interview about taking profits and his way of doing trades. Pretty interesting. Adios, bye.