 thing today, when we're talking about regulation, and this is all about with Tim Draper, the billionaire, is really just how bad it actually is and how you have to fight against the powers that be. And again, if you're looking forward to, to deal with a bully, there's only one way to deal with a bully. That's punch him right in the face. So to help me make sense of all these things, I've got Randy here from Ms. Team Crypto. Randy, welcome. This is your second time, I think. Yeah, it is my second time. Thank you for having me. I feel extra zesty today on a Sunday hanging out with you. So, so I asked Randy to come in because after we, we did an NFA live show on Thursday, and I'll be honest with you, if you watch it, you'd be like, wow, that's not a really upbeat show because we were talking about the things. And I said, you know, maybe I'll do a little bit more upbeat stuff. So I did a couple of videos and I wanted to bring in Randy who sees the positivity that's going on in the crypto space. And if you haven't checked out Randy and Ms. Team Crypto on her channel, just know she's been everywhere and she's interviewed everybody. She's had here, this would be Michael Saylor, and then she's been on Fox News, Fox Business News. I don't, I think twice, three times, four times, something like that. She said, yeah, Mark, Mark Yusko, you've had CZ Binance on, and he've actually had on this guy, Tim Draper. And so if you're looking for like some of the big insights, go no further than Randy's YouTube channel. So let's talk about this, Randy. You know Tim Draper. First of all, well, this is what's happening. Tim Draper, just I'll give you guys an overview. Tim Draper is going to invest heavily into U.S. platforms for crypto and digital assets. And if you don't know Tim Draper, he's a VC. And I know some and VCs get some pretty bad wraps because they dump on you guys. They dump on us sometimes. But really, that's the fault of the projects themselves and having no lockups and no cliffs. Tim Draper himself did pretty good as far as investors, as far as traditional wise. Baidu Hotmail, Skype, Tesla, SpaceX, SolarCity, Ring, Twitter, DocuSign. He had some, some stinkers there like Theranos and things like that, but not too bad. Coinbase, Robin Hood, and also he's one of those investors in the small companies like Ledger, Casper Labs, Robin Hood, Coinbase, EtherScan, Early Ether, Ethereum, Ethereum, and so on and so forth. So before we get into this, Randy, I'm glad you're here. So when you had Tim on, what was that guy kind of like? What was his insights? Did you feel like he was good for the space? Just his overall overall view? So I met Tim Draper in person before I actually had him on the show. So I was actually able to get his like in person vibe and he was very sweet. He was very nice. I had at his event. I was interviewing people for security token summits where I met the mayor of New York. I met Liz Claimant from Fox Business, interviewed them all and that was really great. So I thought Tim was good. I think he's really an advocate for the space and advocate for Bitcoin. He wants to see it succeed. I know, obviously he has the big bag. So that's part of him maybe wanting it to succeed like anybody else that's invested. But I think that definitely he wants to see it progress and he wants to see entrepreneurship actually prosper because he has his own little school. I forgot it off the top of my head, but he does have a school where kids go and people go and learn and how to kind of create their own business and jumpstart like he did. So I think he's definitely involved. He's kind of like on the ground in terms of like, what's next in the space? He's always looking for what's next. Like as you saw, who's an early investor in things like Tesla, Coinbase, just wanting to be progressive. So I think obviously people with big money are always a little skeptical, but I think he's doing the right thing as of right now. Yeah, and it goes to show you like, I know like right now, like people will say, you know, they'll they'll they'll say, well, you know, some of these altruistic people like like an SBF, you got to be careful because they have a bunch of money. But I think as time goes on, people who have been here for quite some time and have actually lasted through the bear market, everything happens bad in the bear market. You start to see like, like they say, when the tide comes out, you see who's swimming naked, Warren Buffett, right? And we can see stuff like that, especially with somebody like with Tim Draper. And I think if if you've been around this long invested for, I mean, this amount of time, only this guy's gonna go to where but we will see. But this government's Bitcoin, he did and he bought it for a mint. I think you bought it for like between 600 and 800 bucks or something like something crazy low or something like that. Yeah, I don't know the exact number. I could probably find it. But it was it was an insane amount of Bitcoin from Silk Road. And he did he was he still I think he still has it. I think we're all good. And then he lost some amount gox, but he's still holding Bitcoin. He's still he's still a prominent in the space. Oh, Randy, we've all lost. I've lost Voyager and Celsius people watch FTX and block buying stuff like that. So yeah, it just happens. However, yeah, I know. We don't want to talk about that. But it is it is a great learning experience. So here's what we got for this story. So Tim Draper unveiled a new crypto centric venture studio mission to accelerate DeFi layer to and gaming and social experiences. I don't know how far you've gone down that whole Web three gaming. I know you've had Kage on your show a couple of times, and you've actually been for around the cryptoverse or metaverse with stash those guys. But I think games going to do pretty well moving forward. Absolutely. So just as Randy just talked about, he had been investing in the Bitcoin for quite some time. We just did a price prediction video yesterday. And we talked about Tim's Tim's price fiction 250,000. We'll see if it pans out. I don't think it's gonna happen 2024, but I hopefully am wrong. But here it is, the specifics of Draper Gorin blockchain's approach is they don't intend on running it like Y combinators or tech stars, which is just pretty much put some money in. Hopefully it works. If it doesn't kick in the curve, they're in the long haul with each company. We plan on spending the next 10 years working with each company. Let me say that again, 10 years. If you're putting that much, it's not just about money, but it's about time. And even if you're a millionaire, a billionaire, 100,000 there or 1000 there, time is the most precious commodity you can possibly have. So you're going to put that much money or that much time into it. I think there's something behind that. He said he's going to invest about 25 to 100k in pre seed startups. There'll be additional focus on partnering with select entrepreneurs to build companies from scratch. And of course, the title of this of our live stream was US regulatory S show. And I got to tell you the way to fight somebody, especially like the SEC is to do something like this to move things forward. If you don't have these types of VCs, I mean, the good ones, we'll see if it all pans out. I think there's going to be problems on the horizon. But Randy, what do you think here? Good for the industry? Or do you think like Tim, even though you like him, maybe he could be like evil on the inside doing something crazy? I don't know if he's evil on the inside considering he's partnered with Alon Gorin. And I think that guy like he loves this. He loves his board apes. He loves this space so much. Like he's just like a crypto nerd, just like the rest of us. Yeah, there's there's a little along with the glasses over there. Yeah, Alon Gorin, he's an OG in the space. He's been around for a long time. He you know, he's been a part of Draper Gorin at home for really for a while. He does his own blockchain and boost show. I'm not sure if he still does like every Tuesday, they have their own like, you know, DGH, YouTube channel, everything like that, they have their own events. Like I said, I went to their event security token summit to interview all the Tradfi bankers. So they're into like both like crypto into Tradfi, trying to just bridge that gap, which I think is something that's very important. The conference I went to was more of like, you know, business-esque, rather than the traditional crypto conferences, which they do have, I think they have LA blockchain summit, which is actually where I interviewed Charlie Lee. It was over the interwebs, because it was during COVID, it was the 10th anniversary interview for Litecoin. So they're progressive. They were here to stay, especially Alon. I know he loves this space like more than anything. So yeah, I think they're, they're all right. They're all right. Yeah, I'm always I'm always impressed how many people have actually had on the show and you've interviewed and things you've done. It's looking pretty good. Like I said, CZ and all of it's under the live. Yeah, all of that's under the live in the missing crypto show playlist. If you guys want to track that down, because yeah, I do the Daily Zest. So it's like everywhere. I have the Daily Zest playlist, NFT gaming playlist. Yeah, I'm trying to rack up like a good amount of people on the show just to have like more people that like have their voice heard like who's like what their story is like Michael Saylor. I wanted a lot when I had him on the show versus like what I've heard over the interwebs. So very nice. Very interesting. Yeah, thank you. Because these things it's hard to keep up. I need people like you to help me out. I forget a lot of stuff. Okay, Rob. Yeah, you're great. So that will take care of that. Again, I think Tim Draper is good for the space. We'll see how it all works out. Also, what's good for the space. Again, coming back down to regulation. And here we've got Tom Emmer. He is one of the Congressman, I believe I can't remember if it's Ohio where he's actually from Republican. And he's a pretty staunch proponent of crypto is actually one of the good guys that is for us. And this was a story that happened. Was it three days ago, Randy? Yeah, I think it was it was a few days ago. Yeah. And then and the thing about this one, I didn't I wasn't really up to speed with it. So I know you had covered this, but just give us a quick overview about what the heck's going on with the CBDC bill. Is this oh my gosh shot down or did it? Alright, I hope it doesn't. But here's the thing. We know that it has to go to Congress. So that that's really where things could get spicy. However, I think it's extremely bullish for crypto and our freedom if it does pass because essentially what this bill does is the anti see it's the CBDC anti surveillance state Act. So basically what this prevents is a Federal Reserve or Central Bank from directly issuing a retail CBDC or digital dollar directly to consumers. Because once that happens, then again, they're able to surveil you, they're able to stop you in your tracks, actually integrate artificial intelligence, which is something the Bank of France has already says going to be implemented until the digital euro, where they basically prevent what they basically predict what you're going to do before you do it. And if they could geo fence you. So let's say we lock down again, you can't go five miles within your home, you go 5.1 to buy a bottle of water, you'll get rejected. Once the CBDC comes in, basically every single thing is monitored, don't have privacy anymore. And they could just instantly freeze your account, shut you down and control you and integrate a social credit score just like China did, which is why he talks about it being a CCP style surveillance tool. Gotcha. Hey, real quick, I know like, like, I don't have many people from China listening to my show. But apparently, I know that on one of your streams, I was watching and you talked about this, he said some of the people that I guess they either use a VPN or something like that. And they chimed in and they actually showed you or if it was live or if it was showed you the social their their their score and how they would shut them down. That was that. So that was insane. I was at Columbia University, like a month ago or two. It was so awesome. Yeah. I went to Columbia University to teach students about Bitcoin and crypto. They were kind of doing their own blockchain course, but the teacher has been in the space for years. He wanted me to come hang out with them. Essentially, what a lot of these kids are from international places. So like I had kids from Hong Kong all over. And one of them, like three of them came up to me with different credit scores, depending on where they lived and things like that. Basically, I couldn't really read the app, but they were explaining it to me. And all I saw was like, you know how they have like the fear and greed index on on like, you know, for Bitcoin and things like that. So that's how you could kind of think about it for their social credit score. So the kid was like in the middle. His score was like 520 something. I asked him, what does this mean? And why is your score relatively low? He's like, I can't get lower than this. I said, what happened? He said, well, I went to go get a power bank. And if you don't know what a power bank is, basically a portable charger. So he rented one and he didn't return it in time. So he got points deducted and also they took an extra charge from his deposit that he put down for the power break. So exactly that's what it looks like. So he was pretty much a neutral where if you made one more mistake, it was oopsie daisy for him. And basically, if you go below a certain score, then you don't, you can't buy food, you can't do anything. So he explained this to me and I thought, wow, what a basic human mistake to maybe come a little bit later to give back that power bank and now you're just charged for it. So it was very scary to see that, you know, this isn't just something that people put out there to scare you. It's something that actually exists. So, see, see, that's just it. Like, I've never, I've heard about it and people talk about it in the chats and I'm like, that's really real. But you said, but you've seen it, you saw it from a student, they showed it to you and they have things turned off. That's, I think it was like an Alibaba type. So I thought it had something to do with Alibaba. It's like on there, like AliPay and things like that. AliPay, WeChat, that type of that whole super thing. Yeah, very, very scary. I hated it. I was like, I felt like bad vibes holding the phone. I was like, I can't believe that this is real. And that's, it's so easy to do that, too, where, you know, if I still have a video that I play on my show of a girl that didn't have the right identification or didn't have the right score and they had to like scan her face on the app. And if that didn't work and she couldn't buy food, she couldn't buy anything. So this is like really dangerous. And they kind of already kind of laid out the roadway for this with FedNow. They have HBar integrated with that, which is now a new Fed coin where they're doing DLT testing with that. But, you know, at the end of the day, if they roll out a digital dollar, it's something that's private. It's something that's not permissionless. It's something that controls every single thing you do. Now, as an American, you're going to ask yourself, OK, we have three nailing of rights, which is life, liberty and property. What takes that away instantly? That's a CBD easy. That's a digital dollar. But what enhances it instantly and gives you more power is Bitcoin. Exactly. Well said, Randy. That's a good way to look. That's a great way to look at it. And then just to just to keep going with this piece, because this apparently and again, you cover this pretty well on your on your show. This apparently it looks like it's going to be shot down. But what it says, what it says here, and this is from Tom from Minnesota, not from Ohio. I think I was thinking of Warren Davidson or something. But it bars the treasury from directing the Fed to issue a CBDC. So they're kind of that without congressional approval. So it looks like this is like one of the things like, look, you can't do it. You can't take in your hands. But if Congress comes out and says, let's do this, baby, then it looks like they can actually do it. So hopefully not. Hopefully not. In previous hearings, some Democrats also voiced reservations against the CBDC. That's good, because, you know, a lot of the times I try not to be too political on this channel. But, you know, like I've said it before, I voted Democrat at some point. I voted right in the middle and I voted for Republican as time has gone on. So I've been around the board. But as far as Democrats, yesterday's debate on this bill was divided between party lines. Representative, I believe this is Maxine Waters, Democrat ranking member of the committee, strongly opposed the bill calling it the CBDC Anti-Innovation Act. So this will permanently shut down the important work the Fed is doing to research a potential U.S. CBDC and the benefits, different types of CBDC could bring to our payment system. One of the Democrats voiced CBDC concerns in a previous hearing, Representative Sherman saying that this is actually pro-crypto and the one that he goes against. I believe Sherman is the guy that's been really anti-crypto so far. And of course, if he hears CBDC, he thinks this is the greatest cryptocurrency that's out there, but that's not the ethos of crypto. And then just to finish up, again, Maxine Waters, I believe the Chinese, and this is her argument, the Chinese CBDC, the ECNY is already involved in both wholesale and retail CBDC pilot projects with other central banks around the world aiming to trade directly with each other's currencies instead of going through the U.S. dollar. This raises grave concerns regarding the efficacy of U.S. sanctions and financial crime laws. So basically what she's saying is like, look, if people are using CBDC and it's not an American CBDC, then we've got problems because we can't lay on sanctions and we're going to be behind the curve. Randy, what do you think about this one? Total sheesh. Listen, man, if we want to be a hug of the curve, let's create something like a stablecoin that is more decentralized in its reserves, maybe backed by something, maybe backed by Bitcoin reserves or gold reserves, something that's real intangible, and go about it that way. Because what they fail to realize is that China, again, they don't want their E, you know, yuan to be used outside of their jurisdiction. So they don't really want other people using it because then they could maybe trade and people in their country could trade their yuan for something else. And that's not what China wants. They want to lock you into that system. So if other people start joining China, they're basically a part of their system and they're trapped there. What our US government fails to realize, as Sherman's like, oh, you know, we could be print more money because we're the government, he fails to realize that if you release a stablecoin, that's actually good. It works. It's backed by something. He gives them more reason for people to see value in it and it brings hyperdolarization to the entire globe where people could just effortlessly like how they could effortlessly like buy Bitcoin, Ethereum, Litecoin, they could enter a US stablecoin. And that way they have more access to the US dollar. Because as you see in places like Argentina, their money is so worthless using like 10 percent of their value every day. That's when people are actually pricing things in dollars now in Argentina. So why wouldn't the US say, hey, let's bring a global stablecoin that everyone could jump in and actually boost the US economy and the dollar itself, giving it that reason to stay the global reserve currency and the most dominant currency, which it's losing right now, as Janet Yellen says, it's only natural for people to diversify. Yeah. But yeah, that's my argument there. You know, they're just missing out. They're they're they're missing out. But you know, as if you take a look at it, as time goes on, as these CVDCs get actually get rolled out, just like what happens in China, right? Because like you said, you saw the actual app. You saw how people were being abused by that by that power that the Chinese government is inflicting on their people. Also, it's going to here's what's going to happen. At some point, CVDCs are going to go across the world. There's this there's this term called F around and find out, right? So if you want to use the CVDC, you can. But as soon as everything gets started to take away and people will eventually rise up and they will try to overthrow the government and it's happened before, especially with the collapse of different fiat currencies that are around the world. We took we took a look at the Turquillera, the Venezuelan currency itself. So I think if even if this thing does go does move forward, it's only going to take one time for people to go, hey, I can't buy my food. Hey, I can't do this. Hey, I can't move forward. It's for them to say, you know what, this is going to this is going to really destroy us. And then for the digital you want things that are going out right now, I think there's a reason why China is collapsing, especially in the real estate market and it's going to cause a global issue financially moving forward. So if they want to do that and they think it's going to actually help, I think there it's going to be a collapse moving forward and it's going to be a lot of problems. So we'll see how it all works out. Hopefully cooler heads will prevail. But we'll see. And then lastly, just to just to accentuate a point, the reason why this is so important and we've talked about this on the channel, Governor Ron DeSantis and a couple different states in the US have already proposed bills to ban CBDCs. The problem with that is that if you do that state by state, that's fine. The problem is, and we can take a look at a prime example be like marijuana. Marijuana is legalized in certain states. In other states, it's not. In the federal level, it is not. That's why all the different marijuana companies can't bank in America. They all have to use cash. And it's a big problem because marijuana is listed as a very high, I forgot the classification for it. So if the CBDCs go through at the federal level, here's the problem. The first issue to address is whether Florida has the power to regulate central bank currencies. Article 1, Section 8, Clause 5 of the US Constitution explicitly grants the federal government the power to regulate money, both foreign and domestic at present. Coins and silver certificates issued by the Treasury and Federal Reserve are by law legal tender, specifically Section 31, USC 5103. The United States coins and currency, including federal reserve notes and circulating notes of federal reserve banks and national banks, are legal tender for all debts, public charges, tax, and dues. This statute means that all US money, as identified above, is a valid and legal offer of payment for debts when tendered to be a creditor. If the Federal Reserve would accredit digital currency or CBDC, it would be legal tender just like coins and currency. And that's the problem with some of the laws moving forward. So I don't know a way around that I'm not a lawyer. That is just what I see. Randy, any thoughts about this one? You know, I'm thinking of the economic report of the president, and I don't know if I have it on me right now, because when they were talking about things like CBDCs and crypto within the economic report of the president, this is the one that just came out this year. They were saying that basically Bitcoin and crypto is not money and that any that money is defined as legal tender or value that comes from a sovereign country. And that sovereign money is issued by the central bank. So anything that's not issued by the central bank, they don't consider money. They also said that they don't consider a central bank digital currency to be crypto because it has no relation. It's controlled. It's centralized one. And two, it says in the economic report of the president that they're not mandated to have distributed ledger technology to have that be transparent. So effectively, yeah, they could say, oh, yeah, we're testing with H-BAR and Fed now for DLT. But then they could come out and say, you know, we have our own private blockchains and you look at who's already doing that, who's already testing that, Project Hamilton, which was the Federal Reserve Bank of Boston and MIT, Full Out Infrastructure Project that already said the trusted transaction processor is a central bank. San Francisco, I think, was where it was, where they were putting LinkedIn job postings. The New York Federal Reserve already teamed up with a bunch of central banks outside of the US, Bank for International Settlements, which controls 95% of our lives. And we also have them teaming up with the same banks that are a part of FedNow. So everything's interconnected. Everything is misleading. And basically, again, CBDCs, they don't consider crypto because it's not because they don't have to have any sort of transparency or distributed ledger technology to make it work. It could just be what China is, which is just here's your money and if you don't like it, then too bad. Then too bad. And that's it. Hey, imagine this. Imagine if Bitcoin was ever created. Yeah, that'd be dangerous. I mean, that's why we needed it. That's why Satoshi was like, hey, man, I'm going to create a decentralized electronic cash like peer-to-peer system here, where we don't have to worry about the intermediaries and the banks failing on us. I mean, I remember telling family in 2019, even before I created the steam crypto, the banks are going to fail. And they they said all types of different things to me because they said that would never happen. And it got vulgar because people can't believe that what they've grown up on is going to disappear. And I think that's where this whole Bitcoin thing shakes people is that it's something new, something. Oh, wait, I have to trust myself. I have to do things myself that there is no bank that's going to hold my hand and promise me that with the FDIC insurance that it's going to save me, even though Janet Yellen said herself that unless it's her her committee and a little unanimous decision by them in addition to a signature by the president, the FDIC insurance is not going to kick in for you and your bank. It's only if they feel it's going to cause economic collapse. Yeah. Hey, you know what? You just touch on some. And before we get to the last section, we're going to talk about JPMorgan and Ethereum and stuff like that. And then some some different things we need to look at as far as adoption moving forward. Randy, when you talk about to trust yourself and to do things yourself, you're talking about, of course, cold storage. What do you use personally for any cold storage devices? Well, I suggest a bunch. I love cool wallet. I think cool wallet is awesome. Very underrated. I think ballet is very underrated as well. I love ballet. And we also I think Arculus is cool. Arculus. Yeah. Arculus is cool. And I know I know people like Tangem, too, because it's open source. But, you know, you make sure you get your seed phrases with that one. Oh, good news. So I love Tangem. I like Arculus, too. I met those guys, very good guys and Ella Pal and some other stuff. But with Tangem. Yeah, yeah, yeah, yeah. With Tangem, I just talked to me yesterday. They're rolling out in October 12th or 11th the ability to extract your mnemonic phrases. So yeah, I thought I thought that was I thought that was interesting. I yeah, they're all right. Tangem team. They're all right. Everybody's got their things. Everybody's got their things. So to move forward, Ethereum and this will be the last one, especially when we talk about adoption metrics. So JP Morgan came out and said that everything's been disappointing for Ethereum since the actual merge. And what they're talking about is they say, look, daily transactions, daily active addresses and total value locked in Ethereum have all fallen since the upgrade. And, you know, in all in all fairness for daily active addresses, you can find this on Etherscan. And you can see that since because the merge was September was it last year, roughly, September, August, 2022. Somewhere around it. It's been roughly a year. We'll just say that. So we can see that if we come up here, active addresses. I mean, back in 2020, I mean, you got 217,000 moving forward, 352,000, 2021. 428,000, June 6th. Of course, this is when it came up to and then September 15th of 2022 was the merge. I got the exact date. Perfect. So you're looking at, I mean, still we're I mean, we're down from what they thought. I think what what JP Morgan is always looking is like, we wanted to explode. We really wanted to, you know, massively go on. Of course, we're in a bear market. So what we're still holding, I think, relatively strong right here. Those I don't know what happened here on December 9th, 2022, 1.4 million. Hey, didn't you want me to talk about this? Binance was doing something and all of a sudden it that was like a few days ago. Yeah, I think it was Friday. Everyone was like, oh, my gosh, the gas fees are crazy because Binance is doing things. Yeah, which I think, again, is something that's scary. Like we don't want one person to like pump up the gas fees for the entire ecosystem. And then the rest of us are like, ah, we can't transact because it's too expensive, you know. Well, I will tell you there is utility there because you got to use it. So yeah, so active addresses, I think we're just chopping along. And then if we take a look at one of my favorite sites in the block, we can see that as far as like, because everybody looks at this and says network fees. And then we look at that and they say, this is the big metric. Me personally, I don't really like high fees, but apparently for businesses, they like that because that means revenue. But what I really want to take a look at is, is there a stability in the actual fees? And we can see that since, let me blow this up. June, July, that's $20.23. So you had 12 point, let's go forward. 9.75, 12, 14, 18, 11, 15. I mean, in all honesty, the fees look pretty good. I mean, as far as like, I mean, what we got to pay, not that I'm like ecstatic about paying high fees, but if you're looking at it, it's roughly stable. It's not like craziness over here in 2021, but that's when everybody was getting crushed. And then also we take a look at the TBL at DeFi Lama. We can see that over time, again, whoops, going in, Ethereum still holding around 55, 56% of the overall total value of lock for DeFi across all chains, 56, 57, 58, 59, and moving backwards, let's keep going backwards. Yeah, roughly the same thing. I think the big drop off was April, actually before the merge, so go figure. Anyhow, Randy, what do you think about this Ethereum? And actually, what do you think about the metrics that we're looking at? Should we be looking just at price or should we be looking at different things? I think we should be looking at like who's using it, on chain analytics are always great. Like, you know, who's making big moves on the network. I like to look at will alerts for all cryptocurrencies to know like who's moving what where. So that way you kind of like, I feel for like how much it's being used and like the value that people kind of like, you know, I think value when people use like cryptocurrency, they're like, okay, if I'm moving millions of dollars, I trust this, you know what I mean? So I like to look at that type of stuff. So people are moving things all the time. And I think, you know, Ethereum moving from proof of work to proof of stake, do I think it helps anything really? No, but do I think that that was always their goal? Yeah, they've always wanted, I think proof of work was just so they could get it started and because they were so early and then proof of stake was just what they wanted to do but in the end, do I think that the exaggeration of the difference between proof of stake and proof of work energy consumption is crazy? Yeah, I think a lot of, it's really not that big of a difference. I think it's a lot of that is just fun. So yeah, you know, proof of stake, I just think it makes it a tiny bit more centralized than if we were to say proof of work, that's the only thing I love proof of work. I love decentralization and I don't like when that could maybe be put in jeopardy, but I think at the end of the day, Ethereum is the first. It's the first thing to kind of open up the doors for smart contracts and DeFi and give people an opportunity to not only transact peer to peer, but also have something where they could take part in a real decentralized financial ecosystem where if they wanted to take out a loan or do any sort of real investing in traditional finance, you have to be an accredited investor, which means you have to have hundreds of thousands of dollars in your bank account. So you already have to be ahead to get even farther ahead, whereas DeFi, you could be a regular person, have $20 and make a difference in your life and play around with new technology. I think there's something that could come out tomorrow that maybe has a better consensus mechanism than both proof of work and proof of stake and something that could scale and that we don't have all these egregious gas fees and that is quicker than Ethereum. You don't know and we're still so, so, so early. Less than, I think less than 5% of the world owns Bitcoin. We're unexplicably early, where in the next bull run, we're not gonna recognize the space. It's gonna be different people that are making content, different people that are developing, different projects that are coming out and you're just gonna say, wow, it's so simple. You can even look back 10 years ago, 2013, the BIP39 standard for your seed phrase is it didn't even exist yet. That was 2014. So 10 years ago, you didn't even have self custody. Now you have all of these different wallets and different ways to generate your seed phrase. It's different ways to store your crypto and it's gonna continue going that way. So despite every little bear market where people got washed out, there's always great development happening here. So I'm extremely happy. But I think, again, proof of work to proof of stake, meh. Meh. So, meh. So we're well said as usual. So before we, everybody, we're gonna transition to the Q and A section. So if you got a question for me or mostly Randy, who knows why there's a better answer for you than I do, then just put that in the chat right now. And as you guys are writing in your questions and going from there, it makes what you just, there's two things. First of all, the thing you said about, there could be a new consensus mechanism. There could be something that comes out that's way better and we don't have to have the feeds and we have a more decentralized and just awesome. I know people will talk about, well, you know, I have my crypto project and it's awesome and it's gonna be great. I just tweeted this out this morning, as a matter of fact. I took a look at this was all the different coins or cryptos from 2017 and 2021 for the highs and the lows. And what I took a look at was out of the top, I used the top 53. First of all, let's just do this. Let me show you something. Does anybody remember, this is the snapshot I used, 17th December, 2017. Look at the ones that are in the top 10. Bitcoin Ethereum, Bitcoin Cash, I guess. XRP Litecoin Cardano. But moving forward after that, how many of you guys recognized? Iota, Dash, NEM, Eos, Neo, Qtum, Populous, BitConnect. What's the, what's going on? Lisk. BitConnect. Stratus, BitShares, Ardor, Bitcoin. And remember, this was December 17th, 2017, when we were at, I mean, we almost hit the all-time high for Bitcoin and a lot of different alts. So when you take a look at this, what I did is I just said, well, how many of those at the top 53 were actually hit their all-time high in 2021? And out of all of those that I put together, it's only 11 out of 53. 11 out of 53 from 2017 to hit their all-time high. What does that mean? That means that you, as you were going through this, if you thought that Quash or Electronium or Salt, Oracetium, Status, Arc, Verge, all these ones that you thought were awesome back in the last bill run, they weren't. And they actually showed it. And I think this is what comes to your time, Randy, is that these next things, these next projects could be enormous, which just depends on which one. And then real quick, before we came on, you talked about NFTs and the different ways that you used in Mensum and the different projects that you're looking into. So real quick, just talk to us about that. And anyway, anything you wanna talk about right there? Yeah, so I've been minting NFTs since November, December, 2020. So I was really one of the first content creators to do it. I know Stash was before me and Ken Bozak. So they were kind of the people that onboarded me into Wax NFTs. So I thought, you know, and even still, I think Wax Blockchain could be, I think it's underrated now, where again, it's basically no gas fees. You could create, you could mint, so just have like a really good time and blend certain NFTs where it's not, where if you transfer it using in a game, stake it, it doesn't really cost you anything and it's super fast. So that's why I loved it, where I minted on Ethereum as well. And for my 20th birthday, I did an auction on Ethereum for my NFT as well. So I'm a fan of anywhere where creators can create. And I think that basically the way I see NFTs and the reason why I did it is because I feel like it's a way to empower content creators, bridge that gap between a content creator and their audience, where if you're an artist, you can be your own art gallery, where you don't have to go to a physical person and say, oh, they, and say, hey, can you put my art here? And then you give them a cut, you never get any secondary sales. And they have to, of course, be that intermediary that approves you to do it all. So you're basically stuck with relying on other people where this takes that out. If you're a musician, then you could be your own record label where if I'm buying an Ariana Grande song, am I really supporting her? Does she really get anything? That's why they're called starving artists because a lot of these intermediaries just take everything from them. They take their rights and they don't own anything. So this gives ownership back to creators and it gives them the opportunities that they've missed out on. And of course, you could bring so much more utility to it where if you buy a certain NFT, then you could get a Zoom meeting with somebody or you buy, like even someone releases a token, like fan tokens were a big thing in 2020 where if you bought a certain amount of this token, you could go to an artist and say, hey, I bought X amount of this token, let me give it to you and you could do a feature for me. So there's a ton of different things that you could utilize this with. And I think NFT gaming specifically is gonna be something that really spearheads the next bull round where people are gonna see like, oh, this technology is so simple, so easy to use it. I didn't even know it was NFTs. I didn't even know that this was something that I could sell on the secondary market, trade with a friend. That's something that I struggled with when I was younger. All my family, they gave me iTunes gift cards and what was I doing with that? I was buying virtual gains on a virtual app store with virtual currencies and virtual items within the game. The only difference is it all went to zero once I bought it and I couldn't give it to anybody. I couldn't rent it out so maybe someone could use my assets and I get a cog of their earnings. And there's no economic learning there where I think people learn economics, like how to trade on a secondary market, how to value things through things like NFT gaming. So I'm very bullish on creators and I think NFTs in the next bull run are gonna look very different than they did previously. I think this was just the groundwork. What can we do with this technology? How can people use it to their advantage and people will look back on these NFTs, like their artifacts. We wrote on stones like hundreds of thousands of years ago, whatever, and people are finding that now to learn about them. I think people are gonna look back at the blockchain and say, oh wow, this is what people were doing. They were putting animated things like I did or they were board apes or rocks, literal rocks. ETH rocks. ETH rocks and I will squiggle. Yeah, squiggle. No, it makes no sense. So yeah, so Randy, good points.