Great well visual asset news. My name is Rob and today we got a lot of things to go over So you might be here because of the thumbnail on the title or you just come here every day just to talk That's great, but we're gonna go over the news which is Celsius Filing for chapter 11 bankruptcy, and we'll talk about what that is what's next and the revisions that are coming forth and some Information that I've garnered from some people who know what's going on with the Bitcoin or excuse me the Celsius mining operation So we'll take a look at the Celsius bankruptcy docs What is chapter 11 and have any financial companies come out of chapter 11 because other ones have as well Then we're gonna talk about how maybe just maybe we're getting closer to the bottom I know right now doesn't seem like it's the most happiest of news and I am not the most bullish of people I think you can understand that as you've come here for quite some time, but There are some things up there that do give me a little bit of hope and then also we'll take a look at Truflation founder Stefan rust which is a hundred percent free website You can track inflation which we've been using Exclusively here in the channel to track CPI and we're gonna talk about how that can actually help us as it has 30 points of Resolution as they get information in from chain link and lastly I want to talk about something good Which the Simon indicator turns bullish, so we'll go over all those things first Let's just take a look at some Some the market and what I call weird times because weird times You'll see like the craziest things happen like the bull market You'll see like Katy Perry talk about NFTs and she's really into it and celebrities and of course That's not really what drives innovation, but it is enticing So when the bear market comes around which we are make them mistake about it in that fully Usually don't see those goofy things happening. However, these are strange times my friend and this is no different Hostess don't laugh, but it's funny hostess. Just put this out twink coin Yeah, I know and this is from Jane Adams She ran for a US House representative and she had posted this just today And I thought it was hilarious because they're trying to capitalize on crypto right now Which is I think is goofy, but whatever so again weird time Do you see this in the bull run where goofy things like this happened? But here we are Talking about this nonsense and then of course I also had to make mention of The Bank of Pancakes I hop if you go there you can get a pan coin, which is a crypto pancake I'll get you just scan that right there. No, I hop did not pay me to promote them I just thought it was hilarious because in all honesty if you take a look at this this to me There's two things. It's POS and POW proof of syrup and proof of waffles The da da da. Yeah, I know so that's what's going on in the crazy world of crypto Which again, these are weird times if that happened the bull market I would have said that's the top right there everybody sell everything But that's just happens during the crypto winter whatever anyhow, let me know what you think about that I'm sure tons of comments on that one, but this is what's going on the market. This is what it gives me hope. I Mean not hope hoping a long term. We all have that well I kind of feel like I I Understand where things are going technology takes a little bit of time And I'll do a three year or five year ten year not a big deal in the short term though This gives me hope because what yesterday those CPI numbers came out and we had quite a dip I mean CPI came out 9.1. We went from over almost touching 20,000 to right at 19,017 somewhere around there and today it's like it didn't even happen the CPI numbers are up. Yes inflation's up and Bitcoin's like I don't care and now we're at 20,287 So if you would have caught that falling knife, which I bought I bought it somewhere around 19,200 because I told you that's what I was gonna do is what I did and Pretty good day. I mean honestly, so if you're up a little bit again think about taking profits I know it's in that weird Bear market, but still I mean if you would have bought a one Bitcoin You don't have a thousand bucks a day just saying just put it out there Ethereum's up Tethering USD coin is down because of course people are getting out of the stables a little bit to get into alts and Bitcoin I'm just gonna alts heavy, but whatever polygon up 20 percent. There's some kind of news I forgot it was but I hold polygon. It's probably gonna be fantastic uniswap Which this also gives me a lot of hope When we talked today about the true flation founder Stefan rust and just as a point of reference This is true flation. This is a website hundred percent free attracts Inflation from 30 different data set points He uses chain link has an oracle to pull an outside data and of course we can see that What the government says and what is reality is a vastly vastly different But when I was talking to Stefan the founder and he said, you know because I was complaining about C-fi and he goes, you know, you have to understand he goes look at the bright side. He goes Defi did exactly what it was supposed to do and see if I did exactly what it said it wouldn't do There were some regulated properties. There were people who in there were talking about trust and they pretty much lied to your face and then on don't sue me and then allegedly and Then on top of that if you take a look at defi it did what it's supposed to do Just take a look at Ave. It's holding up quite well. And I was like, you know, Stefan, that's a damn good point Defi probably could be the future So we'll take a look at that and it's nothing that gives me hope and especially with this strong market And that's what uniswap.  I mean it was promised me the moon and what do I get? Didn't even get a star. So that's what's going on the market. Let's jump into this Celsius bankruptcy this hit home yesterday and It appeared first on CNBC and Then I had posted that and then people said that's fud don't spread fud You're a fudster just because CNBC says they know somebody inside Don't say that here. That is fud fud. Well, it's true. I mean, I've been wrong before but this one You know, it did happen. So this if you go to Celsius network the website is what you're gonna see They're gonna say can't access check our blog or visit this website and you click on visit this website It's gonna take you to Stretto case info court dockets file claim. This is for the Southern District of New York And it's gonna say very clearly on July 13th Celsius network and certain of the subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bank Secrecy code. So there's different parts of this or chapter 7 is chapter 11 But chapter 11. Yes, it is restructuring and we'll go over all that stuff in a second But if you take a look at the debtors right here, click on This and you can find this I link this in the description as well. So you can click on click to your heart's desire This is all the different debtors that are being named in the Restructuring process, but there's one here Celsius mining LLC And I've heard the grapevine. This is just straight cheese may this is just straight rumor This is these are an individual who works a lot with Bitcoin mining Says that he had also heard that they are going to be liquidating Celsius mining. They're trying to get Interests for people to buy this up. I don't know how that works in the bankruptcy courts Doesn't sound but that's just what I hear doesn't really matter Everybody's in chapter 11. They're all trying to restructure. That's what's going on if we click on back What the big thing is is Right here, let's see First day pleadings if we click on the first day pleadings These are all the documents that you can go through which is hundreds and hundreds of papers or Pages and PDF format to take a look at different things Why I'm excited about this is because Voyager had to do the exact same thing and they had a first day presentation Which really laid down a lot of things that they are going through and talking about and one of the things they said Hey, this is what we got. We got 110 million of cash 350 million of cash held in the FBO account of Metropolitan Commercial Bank 1.3 billion of crypto assets and this is again. This is just Voyager This is their petition when they went to the courts, which is happening right now on July 14th for Celsius So this should also come out relatively soon and we can see Exactly just like Voyager said or did and make everything transparent you can see The the loans the funded debt and of course the outstanding loans and who those outstanding loans went to so you may be able to dig through that Over here, but there was one interesting thing 21 the motion to authorize Debtors motion seeking entry of interim Authorizing debtors to continue to operate their cash management system if you click on that And then you scroll down The cash management system, which is essentially Celsius what they're saying In the ordinary course of business the debtors maintain a complex cash and management system Capro system blah blah The debtors cash management system is critical to the debtors business as its stream ones debtors ability to collect Transfer and disperse cash and crypto generated from their operations and to facilitate cash and digital asset monitoring folks and reporting So what they're trying to do is they're saying look if this goes down They can't operate you need to allow them to keep that up and to keep moving forward We'll see if the judge allows that I am obviously not a lawyer as I was fumbling through just that simple part So if you want to know more things about this, I am not the guy to turn to I'm just the guy that shows you these The documents this is where you can go to you can look at it through your heart's content. This is what's going on So the next question then is Well, Rob What happens for chapter 11? We had actually covered this before during voyagers thing So I just want to make this very clear. It's not like everything gets liquidated immediately. Okay filing for chapter 11 I again link in description Bankruptcy protection Simply means that a company is on the verge of bankruptcy But believes that can once again become successful if it's given an opportunity to reorganize its assets debts and business affairs This is probably a reason why they were paying off so many of its debts to get packets assets And you've seen that in previous videos here and other where other places where Celsius went in said we're gonna pay you off We're gonna pay you off give us back our assets and that's kind of what's going on here So they believe they can still operate But the question is really can they and the difference between chapter 11 chapter 7 is that in chapter 7? The company ceases operations Which is the exact opposite of what they're trying to do and leads the total liquidation of assets to creditors Which you could do that, but you probably get pennies in the dollars That's again, just my layman Armchair lawyering right there Understanding chapter 11 bankruptcy while chapter 11 can spare a company from declaring bankruptcy the company's bondholders and shareholders You and me although we're not shareholders We we own the debt or the crypto in there are usually in for a rough ride when a company files with chapter 11 It's share value typically drops significantly as investors sell their positions again This is for a normal company that is publicly traded Which Celsius is not and then it goes on to talk about stocks and bonds and and how they'll reissue things Not important to us. It's not a public company like Voyager is however This is the next question I had well how many companies have come back and we talk about this again Voyager video How many companies have come back from? Bankruptcy well some big ones Apple which had a lot of assets Was able to come back and the reason was because Microsoft Microsoft back in 1997 gave him a hundred fifty million dollar investment I didn't maybe didn't know that but Microsoft came in Bill Gates Everybody's guy that everybody loves to hate Bill Gates comes in and save Steve Jobs and Apple says here You go and the reason was because they didn't want to be called a monopoly. That's pretty much what it was So it wasn't out of the kindness of their heart General Motors Ali financial Chrysler Marvel Six Flags, Texaco, Sabaro all these big companies came out But the one that strikes me is Ali financial, which is a financial company Apple had hard assets. General Motors has hard assets Chrysler Marvel. Everybody has hard assets financial companies usually do not But the only reason that Ali was able to come back is because they were the sister company for GM And of course they got bailed out When the government bailed out GM, so that's not a real good point of reference. However, here's two examples. I found and back Is a financial group it does investor Relations and investment advice investment strategies and things like that. They actually Filed for bankruptcy on November 8th 2010 They filed for a voluntary petition for relief under Chapter 11 of the United States bankruptcy and It took them three years roughly That two and a half to get out of bankruptcy So that's one example that yes, it did happen probably not in the time you want to and that sucks But here's a better example that maybe might be better for you. This was Walter investment They had to change their name to die tech holding corporation This was listed on February 9th 2018 and it states here back in December Walter announced it planned to file for Chapter 11 As part of a pre-package restructuring plan to cut its debt by 800 million. That's a lot of money So they did the financial restructuring plan. They were able to come out pay back all their debtors now They're called by tech financial and that's pretty much it So in three months roughly these guys came out of bankruptcy So I know that's not what she want to maybe you want to hear but it is the reality that it can happen But it's not very common. It really just comes down to is how will they restructure? What is the plan? How can they come forth and really what's going on? So that Just leads me to my last question, which was this which I got a message I got a DM and said hey Rob. Can I sue Celsius? I'm like, well, I'm not a lawyer at all but there was a Website Which is pretty much like you know hire us but it was interesting So when people are asking this, this is your first step Of course, you want to sue somebody go to a lawyer Don't go to a guy who's talking on a green screen in his mom's basement talking into his computer About Can you file someone can you sue somebody for bankruptcy? Well, yes or no So here's the thing bankruptcy stops most lawsuits when someone files a bankruptcy case a court order called the automatic stay Immediately goes into effect the state stops accreditors attempt to collect the debt from the debtor You won't be able to file or continue with the lawsuit if the damage occurred before The bankruptcy filing So let me say again, you won't be able to file continue with the lawsuit if the damage occurred before The bankruptcy filing here's the allowed lawsuits though The automatic state doesn't prevent you from filing or continuing with all court proceedings For instance, it doesn't involve debts it involves a legal right that won't arise until after the bankruptcy filing Lawsuits involving debt that won't be discharged in the bankruptcy are fraud if you're a victim of fraud And bring a lawsuit for relief you might be able to file or continue the lawsuit during the bankruptcy case many debts that arise from fraud Aren't discharged in bankruptcy if the bankruptcy court or a state court determines the debts arose from fraud again I'm not a lawyer. I'm just telling you what that said and then somebody had a pretty good comment at the very bottom here Valuable divide if you can prove Fraud that can pierce a bankruptcy also Celsius is filing for bankruptcy not alex meshenski He's like going to be personally hit with many lawsuits some may be able to recoup lost funds from that avenue It'll be interesting to see that plays out again Me and valuable divide are not lawyers, but just let me consider anyhow, let me know what you think about that in the comment section and again Here's the thing Voyager and Celsius I talked about a lot on this on this on my show I did And I liked Voyager. I still like the people in Voyager.  It was collateralized loans and looks like that wasn't even the case and there was a lot of craziness going on we will say so When the information changes I change and that's really what it comes down to to bear markets to bull markets to everything else That's why we talk about these rules underneath and that's why again thankfully to person that helped me out and told me Uh, when I went to consensus june 9th 10th 11th, they said Celsius something's gonna go wrong with that one Put out a video on june 12th links in the description nine hours later Off goes the withdrawals. Okay. So there's that one part and with Voyager When I found out that they were doing uncollateralized loans of over half a billion dollars like that doesn't make any sense Put out a video on june 22nd had the rules up already get everything off exchanges july 1st stopped withdrawals Going forward these rules underneath me. They will never leave These are my rules and you can do whatever you want with them But these will be from here through the bear market and the next bull market and the next bear market and the next bull market It's all gone Just assume that uh, what you invest don't invest more than you can afford to lose everything's a scam Don't leave any on exchanges. Don't use leverage and take problems along the way simple enough. Okay. We can agree on that Let me know what you think about that in the comments. Let's get on to some good news Getting closer to the bottom. I'm not sure. Here's what we got so This is an article From coin desk and of course, it's all about indicators. I'm not really big on indicators But it's just something to add to your arsenal It states that the market likely bottom of june with the meyer major multiple dipping below 0.5 I don't even know what that is But this is what i'm going to say every Every indicator can be useful and sometimes they're actually even right But not all the time may or multiple measures the disc the difference between an asset's going market value and its 200 day simple moving average Suggest the crypto bear market has run its course. Here's the thing I don't even know about that. What I do can tell you is that ben's website in the crypto verse There's a link in the description. It's not a affiliate link. Just go there. Check it out Uh, it can do all that stuff. So like when I'm looking at them like, uh, I gotta find that stupid thing So you can go there and you can verify it 200 day Simple moving average and you can play around with everything that you want to and you can do this on a lot of different websites But I like ben's because there's a lot of things about risk assessments And month-to-month return on investments. So I like that part And we can see right here in this greenish. I don't know greenish type of thing. Here's the simple Simple moving average 1.62 Trillion and we are the market cap is only about 900 billion. We are Gosh 45 percent below that 50 percent now 45 percent so we see like these things and of course they're talking about The may or multiple sure I can see that may or multiple was 0.53 In the crypto market value today 63 billion was worth almost half And of course this the assumptions that the market would bounce back or pull back To its mean representing the 200 a simple moving average. I don't think that's true. I'd like to use the mvrv Market value versus realized value, which you can find over There are crypto quants and anything below one is a good buy the thing that I wanted to beat in everybody's head on this one it's not about It's not about the indicators because they're never right And some are right sometimes, but you never can the big thing I want to talk to you about and gammon talked about this a market rebellion Or rebel cap rebel capitalist, whatever I always forget his good show But he says this and makes puts it very simply there's something cheap or is it expensive? Right now we're looking at the markets and everybody's trying to go. Where's the bottom? We're gonna get the bottom. What's going on? How how much can I get to it? You'll never hit it You'll never you may hit it one time or twice if you're lucky I suppose or you could call the top and of course everybody somebody in the comments gonna say Well, this guy called the top and this guy called the bottom. Yeah, how many other times do you call the top and bottom miss that? I'll never do it. I'm not smart enough But I just look at things and I go are these cheap? Are they expensive right now? I'm not buying houses. They're expensive Right now I'm looking at crypto going. That's pretty damn cheap I'm not gonna hit the bottom But I really should start dollar cost averaging which I do and I buy bitcoin every sunday Now I've been waiting because you know for these for these cpi numbers to come out. That's all you got to do That's not financial advice It's just the how the things that I look at them go. Is this cheap or expensive right now? Everything's cheap. Could it go cheaper? Sure in three years. Do you think it'll be this cheap? I don't think so. That's just the big thing I wanted to bring to your attention and then to go from there and then also When they're talking about here is and they said, you know to look at the positives The u.s. reported inflation at a new 40 decade high of 9.1 percent on wednesday Sprung the bets of a hundred basis point rate hike later this month I think it's going to be a full basis point And I think the market is going to respond by dipping a little bit So I will not be dollar cost averaging until july 26 and 27th when the fed does their meeting I can wait i'm just going to save it up and do value cost averaging That's what i'm going to do not tell you what to do and also if you're looking for Take a look at inflation and the real numbers. I mean you can trust the government. That's fine. I just don't There's this great website app that true flage. We've been talking about 100 free links in the description And it kind of it takes 30 different points And shows you where inflation really is on a continuum and they use chain link To pull in all that data and right now I I talked about this yesterday. I thought it gave us a lot of hope because look I mean we had in march. We're almost touching 11 and a half percent Then april came around and now 10.75. So what the fed is doing and this isn't looking back like cpi numbers This is real time data. So when I take a look at this and I see that oh inflation is going down I get a little bit more bullish Which I know is odd to hear me even say that word but I do because I'm like well as the inflation goes down So the fed's gonna look at the retro numbers. We're looking at numbers that are happening in real time This is what I think I'm going to be looking at a lot harder as time goes on and say well If the fed's gonna pivot when inflation goes down and now we're going down even though the retro Maybe I could front run the fed to bring this home I did an interview with the founder of trueflation stefan rust and it was and again He's the guy that was talking about hey look at defi look how much it's holding up He was a bitcoin investor in 2012. He was part of bitcoin.com and all the different things and he knows a lot of insiders or og's so this is a interview and it's about 10 minutes long and It's fascinating to where this data comes from and how it can help you Be a part of your plethora of the different things that you look at for your investment strategy And then after that we'll take a look at the sign indicator turning bullish. So just take a listen. Here we go Okay, so as promised, uh, I wanted to bring somebody in who could really dig down into the app Trueflation, which we've been using on this channel now for uh, about a month or so And I think it's important as we move forward. So stefan. Thanks for stopping by on the show and explaining all this stuff. I appreciate it Thank you. Thank you for having me here and and super happy to be on your show Yeah, man, this I mean this the website is very easy to use I think my grandma that could use it and just the interface is fantastic But we got to ask you some questions to know what the heck we're doing here. So first of all Four questions Who is stefan rust then we'll talk about how true flation can actually help us Then where's this data come from and what's the next step for this website and the platform you're building on? Which would be also laguna. So let's start with the basics stefan, who are you? Where'd you come from? Yeah, so I've been around for quite a bit. I've I've been a serial entrepreneur set up a lot of different types of businesses I actually got into bitcoin in about 2012 When I bought my first bitcoin because a developer on the other end of the world wanted to get paid in bitcoin I didn't know what it was looked it up And saw that there was a bitcoin j wallet and I had a career in java in my background And so I was familiar with that and then sort of dug deep into it I bought my first bitcoin on ebay using paypal before it was banned at $5 and Yeah That was I didn't think much of it to be honest I didn't I did not appreciate the value of what it could do until nine months later That same developer asked to be paid. Can you pay me now? You'd happen to be called. Yeah. Yeah, I have it And I noticed the price has gone up to $300. So wow, that was amazing Yeah, and at the same time then on skype I did an instantaneous transaction for free whilst doing a video call with the developer And so I was sold from then on in I had a developer agency at the time And so I just started building out a developer network of Companies and individuals that could be building on bitcoin at the time There was only one currency and so that's how I got into bitcoin was the CEO of bitcoin.com Working alongside me to some of the real ogs before I set up trueflation.com So it's not about what you know It's who you know if you know a lot of developers and the ogs in the space Now I know where where things are coming from that makes a lot of sense So talk to us about real quick before we get into how can trueflation help us? How'd you come up with the idea of trueflation? Why did you do it? So we saw governments printing a lot of money inflation was transitory I just could not believe that and I did not Yeah, I just could not believe that and that was basically the genesis behind it But rather than it actually being the genesis to leading to the product where we are today What we did is study Inflation and we figured out that it's a real old system that was put in place. It was built out before Um, you know, we had computers mobile phones internet, etc But more importantly it was done on a panel basis So you did not take a developer approach in terms of using census data across multiple sources Got millions of items and leveraging modern technology to do that And it was only when Balaji posted out there on 17.20 29 1729.com backslash inflation Where he launched a competition To anybody who could build a inflation dashboard. We'd studied it We knew where we would collect the data from we had the architectural designs that we had mapped out in terms of how we would do it And we thought we would make it available on the blockchain And so that was like a red rag to a bull. We then said let's build it And so four of us within a two month period went out and built trueflation, which we then launched I mean three months later pretty much at D central in miami in december last year which then Brought us into version two version three which you have now and you see on the dashboard live today Yeah, we already used it. I'm going to skip around because I think this is more relevant So when you talk about, you know, uh, trueflation and how it all got built I guess the next the next question should have been Where does the data come from and what's the next step for trueflation and we'll we'll get to how can trueflation help us So just real quickly talk about, you know, where does this data come from? So we source the data from all these different online sources and you can see on the website We try to disclose all the sources that we use for aggregating this data How we weight it our methodology We have basically about 30 different sources of data across 10 million items And each of those items has to have more than one source of pricing information And so we actually have at minimum 20 million sources of data That we pricing that we aggregate actually it's much more than that But we have 30 different sources of data from reputable brands That we aggregate and and put together in the outputs that we see in 12 different sub indexes Yeah, and I think that I think that's the big thing is we're talking about this, you know With fed reserve they're looking at these c-pad numbers and it's retro Let's take a look at what's happened before which is fine But I think as you know time goes on we're going to want to take a little bit forward thinking Which I guess will be the next question, but Before we get to that, what's the next step for trueflation? Yeah, so how do we get into so ultimately we do only cover the us market today And what we're trying to do is go into other markets. So how do we look at uk canada mexico? So we've got a cadence about four countries Per quarter that we want to announce and launch but more importantly We want to get into the ability to be predictive. We're already 30 times faster than the government reporting We update our numbers on a daily basis. So that means we're 30 times faster And if we go deeper into each of the categories, we can see what is influencing each of those categories And ultimately we then can aggregate pricing information From those influencers to see how they will likely Change the outcome of a price of transportation of the price of real estate or rent Or accommodation, etc. And so how do we then actually go into more predictive and into sort of future forecasting based on data that we can acquire Gotcha future forecasting people building on it. That might be the next step. I would guess And then ultimately how do we get people building on it? We had a chain link competition hackathon Where we rewarded developers to build on it. We had 40 companies build on truflation.com Ideas that were super creative all available and visible And now truflation.com by the way is available on four different blockchains bit of a sales pitch But that's that's what we have made available Well, it's it's a pretty great sales pitch because also the data is for free right now That's what i'm using all the time. I'm the paying you a red cent So that's great So so step and that would lead me to the next one like we just we I briefly touched on it So the fed reserve is looking retroactively They're going to talk about a soft landing probably not going to happen So the real question is is then how can truflation help us moving forward? So I don't know how it can help us but what it can do is help identify where new products and pricing is going to change. What do I need to do in order to identify, you know Where and how to react what to do Um It's it's how is it going to help us individually? I think the data itself allows us to do computation That will impact us right is now the best time to buy a new car Or will it be a better time in six months time when prices come down? So you can see prices have already come down in the transportation Which is a reflection of your secondhand car market having come down significantly with a lot of oversupply As people go back to work and they're using their cars again. They're also using public transportation They don't need three or four cars or they don't you know, so That has sort of settled out a bit Gotcha, so I can see that I'll be using this pretty much uh every day Just to take a look at what's going on That's why we make it available and we want to then be able to allow you to go even deeper Right, so if you look at transportation, you scroll down a bit You can then see what how heavy Transportation is as a part of The household expenditure. It's about 19 percent people spend on transportation And then you can see what the categories are How can you then click into one of those categories and then see what that what's the constitution of that? So vehicle purchases net outlay other what what is in the vehicle purchases is their first hand second hand car And and what is public transportation? What are people spending? On transportation. How has the price changed in public transportation? What types of public transportation, etc? crazy all right, so that's Important to know I think for everybody so that would mean my next one because you've got true flation But when we were talking behind the scenes you've mentioned laguna and I don't know what that is Talk to us real quick about that and what's coming down the pipe So laguna basically and simple is is a You know, we're trying to bring commerce Global commerce to the web or to web three, right? I mean, that's really what we're trying to do How do we do that? And what we're trying to do is on the laguna blockchain We're trying to take out fees and friction in transactions And the way we're doing that is a couple of things, right? We've identified that Fees need to be below five cents in order for peer-to-peer transactions and commerce transactions to happen That would be nice You and ultimately friction We need to take away the fact that in order to do a transaction on any of the blockchains You need the native token in order to do that the native utility token in order to fund the transaction How do we move away from that that you don't need that? Those are some simple examples of how we do that you'll find out more on our website Yeah, and then just before we take off. I think this is a big A big thing story because we were talking behind the scenes about like me as an as an online e-commerce provider It's going to be either 1.99 plus 30 cents or 2.99 plus 30 cents per transaction So take that globally and we took a look at the the different software that's available in india And it's even much higher than that which is to me quite insane So if we can drop that below a nickel, that's great The problem is if we're using stable coins and things like that which is built on a lot of the times Well erc 20 or uh polygon or different or binance smart chain or tron So if you do all those things now and I here's here's a part with the friction and moving things across We can do it cheaply on other chains, but sometimes a user may say well I'm on erc 20 and I want to transfer another chain and then it's gone So if we can do something like this and knock that down to because we all know The gas fees are astronomical, but take those from five six seven or twenty dollars at the height And knock it down to a nickel because we're using these different chains That would be just like how it was in the old days when the cell phones came out and I said, hey Do you have AT&T like a Verizon? So it's a little bit different now. No one thinks about it. No one even it doesn't matter because that's where we have to go And that's really what we'll bring about global commerce and Will hopefully recover and take us out of this negative economy, right and recession that we're likely to enter into This is the time for building. We're going to be building We have a very clear vision of what we want to do. How do we make a lot of this possible? Yeah, excellent Well, man, stefan, you've said a lot. I will say I want to say first of all, thanks for stopping by everybody Of course, you can find uh app.trueflation.com in the link in the description use it at your leisure I'll be talking about it a lot, especially as the c-pad numbers come out and that is it stefan Thanks so much for stopping by Thank you, dan. Thank you for the audience for listening and taking the time out to hear what I have to say Excellent. All right, everybody. Let's jump back Indicators simon you thanks so much for being the uh the simon indicator. What he says here is this Uh bitcoin Did pretty well with the macro environment Uh looked out that tens of billions being liquidated large hacks macro history, but it still holds at 20k And again, like i'm not very bullish on this channel I'm a little bearish, but these things give me a little bit of hope and then when we talk about Then someone asked him.  He says, yeah, because but when when the facts change, I change Two main things c-pad comes out. It's okay And then of course celsius has been dumping hundreds of millions in crypto But the market has been absorbing it pretty well despite the vast amount.  That was a long video today and you guys stuck with me Thanks 40 minutes, and I still got almost 1500 people. So thanks everybody. I do appreciate it If you want to stick around we're going to do a quick q&a session I'll answer all your burning questions the best of my abilities and then we will go from there So let's jump in Let me get rid of this banner we don't need this All right Tommy V shout out to the beautiful people in the Dan fam. Hello everybody Toaster says I'm still holding my crypto and not planning on selling it sounds good But with everything happening this feels like the first steps towards the end of crypto This is how it always feels in bear markets Everybody's euphoric and bullishness like it'll never go down And then of course it goes down and then of course people will always it's always a different narrative, right? In 2017 2018 it was all about this is the future and this is what's gonna happen It's gonna be awesome But then we realized that we were nowhere near that and no one's actually really building the rails So it just collapsed and then this next one in 2021 people always tell me rob you don't understand There's so many institutions like micro strategy and the like and even El Salvador Bitcoin will never go down from now on because there's just too many things to buoy it up And i'm like just wait and here we are so Again that never changes And then of course even though you think that bear markets will last forever. They don't They're like the rain in portorico. You don't like it. Just wait a little bit. It'll change Hello battle rap Even sandbag and free believes most companies is Ponzi. I saw that one Where he was talking about it. And I think it's true. I think in some of these I think everything's a Ponzi until it becomes stable Let me introduce you to the american Social security system Let me introduce you to pensions the same thing Like you have to to actually get things going you have to actually bring more money in or else everything collapses That's just the truth Let's see Twisted says rob shills but doesn't run pool like other pumps and dumps Yeah, I got to get away from that that term. I think because shill has a negative connotation And we're right rightfully slow rightfully show but I am an aggressive promoter of the projects that I invest into and believe in That's what I should be saying But I didn't any good point twisted Uh ysk Uh, someone made a good point in twitter showing how commodities have come down quite a bit since all time high this past year Yeah, I think even ben talks about about into the cryptiverse and he talks about how beforehand commodities would always drop down And then kind of rebound as we start to rebound out of the uh recession, which I believe we're in right now So buckle up. There's gonna be a lot of a lot of that going on Uh bombs away says you guys are fools to trust any unregulated exchanges. Good. Uh, he's Not wrong Ben Cole rob. Don't you promote celcius? Yes. I used to promote celcius I also used to go to blockbuster. I also used to use a real typewriter to type my papers When I had to put them out But uh as time goes on I realized that one are just completely useless and one Uh, didn't tell me all the things they were doing behind the scenes.  So I'll then answer your question The herd is following gear the solid way dude. I remember


This study examined the serum proteomic profile of patients with thymoma compared to healthy individuals. It found that there were 58 proteins that differed in expression levels between the two groups. These proteins were mainly involved in regulating immune responses and antigen binding, as well as in the complement and coagulation cascades. Additionally, the study identified several proteins that were upregulated in the serum of patients, including those involved in the complement and coagulation cascades. This article was authored by Jadwalee, Guoyangchi, and Yeilin Liu.


Hi, welcome to BCH Technologies. This is Kevin. Today, we're going to talk about how to get your printer out of recovery mode. If your printer has a black screen like this, it's really annoying. And let's say you cannot do anything. It doesn't reply to any command. And if you turn the power on and off, no matter what you do, it gets back to the recovery mode right away. What happens is you have a corrupted firmware. So for Epson, if you call Epson's support, they will ask you to go to the Epson firmware update site to download a firmware update. So basically the first thing we do is we go to Epson website and find out your printer.  And you can find that printer here, which is USB and start, finish. And you think you're good to go. However, if you go back to the printer, your printer still looks like this.  And back on off. Okay, if the first method doesn't work, we're going to do the second method.  And it doesn't change anything. So the second way is, so first thing we turn the power off.  Hold on this to number one and this orange button. Hold it down. And then now turn the power back on with all four keys hold down. Okay, so now you can see it said the printer is ready for update. Now we go back and install the firmware. We go back to the printer and just leave it just leave it for like a minute or two. I'll show you. See, and it's going to have have this. That means it's done.  It does not work. And they gave like a minute to power back on. It's a good sign is when you're back power back on, you don't have this service mode. So turn it on.


I'm here for more systems and we're going to talk about Caden live the open source video editor and the editor I use here for my YouTube channel. This is my editor of choice But first if you'd like to learn more about me or my company head over to Lawrence systems calm If you like to hire short project There's a higher a spot and right up at the top if you like to support this channel other ways There's some affiliate links down below to get you deals and discounts on products and services We talk about on this channel There's also links to our patreon if you'd like to become a supporter There is also a swag store where you can get shirts and other items and finally if you'd like to have a discussion more in depth and just the YouTube comments about this video or suggestions for new videos head over to forums dot Lawrence systems comm and we can have a More in-depth discussion. All right now back to the video okay, and live is an open source video editor that is cross platform and Primarily it was Linux only first, but they have added over here in the download section windows support As well, and they seem to have some Mac OS ports. I don't use Mac at all It's been a while since I tried it on windows I may try it again sometime now that they've got a new version out. Maybe it's gotten a little better I we find a little bit more buggy on windows and yes in the past It was quite buggy even on Linux, but I've worked through it And like I said after using it for a thousand videos and watching all the improvements over the years It's become a very very stable project. I preferred way to run it is through app image So that's the way we will be launching this if you're not familiar with the app image instead of installing the entire program You can download a single app image and run it from there as in all the different supporting libraries are compiled into a single Image and image that you run. So this has been the preferred way. So you don't have to really deal with any conflicts and Modern systems facing a bunch of we have no problem running app image. So that's pretty easy out of the box Version 20 is packed with a lot of features and it just came out here in April of 2020 And there's a lot of things to go through you can go through all their previous news Releases to see like all the little different details and changes over time But there is a lot of features inside the game live and this latest version contains a ton of bug fixes and enhancements So let's get started. I want you had a like how I edit So I certainly wouldn't have time to cover in this video all the features I also don't use or know all of the features of game live I know the ones I know very well for what I need to get done to get the editing done The other thing is I know and I'm aware that other video editors exist and people always will then leave a comment saying What about and I just don't have time to try them all and learn different workflows I've been using Kaden live for like I said a number of years with over a thousand videos I don't plan to change my workflow I especially don't plan to ever change to a proprietary one unless there's some absolutely compelling reason to do so and right now I can't come up with a compelling reason to do so so I'm sticking with the open source Kaden live This screen right here shows what I'm running on my system, which is Papa West 1910 With a AMD Ryzen 9 3900 X 12 cores if 32 gigs of RAM Now the reason I bring that up is because that question is like hey Tom It seems to run smooth for you, but doesn't run smooth for me Well, these are the specs of my system that I've been using for editing I've got a build video I can link to as well for this particular system in more depth of detail But you get the idea that it's a reasonably fast Ryzen 9 system with 32 gigs of RAM and we're gonna run Kaden live via app image from the command line Now normally this is my view Which is laid out in three screens now this would be hard for me to present So I'm going to do it. I'll show you just real quick It looks like when I open something so if we go here I usually stretch the project out across the middle screen and then from there I can do all my editing and the screen to My right is where I'm actually watching the video and the project monitor, but for simplicity sake We're going to and to make this a lot easier to load We're gonna pull load layout and choose one screen and then makes this a whole lot easier present for YouTube So now we'll consolidate everything to one screen We're also gonna start a new project here So we'll start with a clean project to get you the idea of exactly How to get started with Kaden live and some of the editing tools that I use now I'm gonna drag over here, and this is my Dell part 2. I think I got one in there cool Here's a video I have and the first thing it did was asked me if I'd like to switch to project now I started a new project at HD 1080 30 frames a second and this project is at 19 20 1080 60 frames a second you can mix content of different frame rates It doesn't have a problem handling it But if there's no other content and you add content that doesn't match the project with nothing else in it It'll offer to switch we're just gonna head and switch up the project to match First thing it does there's a little pause and it rendered really quick to render the audio So now we can drag this down I get an audio track and a video track And you can see this is like the beginning of that video where I start out But don't really have much to say on this prepping So we'll go ahead and clip that out, but I want to show you all the shortcut keys So you can use the keys here the razor tool or The Selecting tool to cut but it's way easier to use keyboard shortcuts And I'm gonna load a little tool called screen key that will display each key I'm typing on the bottom of the screen so you can kind of follow along without me having to say press this press that All right, so all the windows are draggable and we have the project monitor and a clip monitor So the clip monitor is so I can have and let's just drag in one more clip And we'll drag in I have no idea what's in this clip. Oh Me starting me starting the video accidentally starting over But this is where I can take this click on one of these clips and I can play the preview clip project monitor Which I normally like I said have dragged to a screen over to the right is where you actually see the project that you're Working on and now you can see the keys. I'm pressing so I press s to bring it over to select and I can drag through this and figure out where I want to start So first thing I want to do is get rid of the dead space in the beginning where I hit record But didn't say anything so switch over to x What I did was I clicked right where the mouse was and I go back over to s Press the delete key and I'm just grabbing and dragging and sliding it over now what this did was so now The video starts here pretty simple now holding the control key and scroll on the wheel It won't show that on the screen, but that's what lets you zoom in and out of Here now one things when you zoom in and out you right away see well There's gaps and this is one of the things I do in my videos a lot is take those gaps out So we're gonna go through here and I see this gap. It's me pulling something up So I'll zoom in just a little so I can get a little closer so I can see where the audio starts and stops And then we're just gonna press x We'll go here and we'll scroll it over a little more to rate. Well, you can't see it's behind me. They scroll like this There you go There then I press s again select delete Drag these closer together now another option and this is an important thing I just dragged this closer like that, but what if if I had and we'll just back over to s We're gonna cut another piece out like this. We'll go here and Select this one and switch over to x cut Cut s Delete and we left a gap right here, and then let's close that gap So if I drag this it's gonna drag that so the another option is if you've got further tracks down there But you just created a space right here and even if that space and we'll drag this one up like this to another track If we say remove space from all tracks when you cut something out you can do that And it'll just bring it over out of habit. I'm used to dragging them But there is that method that works as well in case you've edited further down Now the other thing I do and a lot of my editing is speed things up There are times when things are loading on the screen and well that's just kind of boring to watch So we're gonna find some loading screen where I'm doing some type of tests like right here Now the way I do that is really simple. We're gonna go here We'll pick the beginning of it and say alright This is where I start testing and this is where I end it and we'll go Scroll in just a little bit more. So I'm getting it to the right spot X for the cut tool We'll cut there and we'll cut here So this is the part where the test runs and I went back to select for us Have it just so I know exactly what it is I drag it up to another track and if you wanted to add more tracks This is insert track we could import another track above if we needed more tracks just like that But I won't that's a control Z done do that And I'm gonna ungroup these because I don't want the audio now It does have them will show you when you change speed here you can do pitch compensation so you can play something faster without screwing the voice up too much and That's an option for me. It's just a test running. I'm not seeing anything anyways So we're going to Ungroup these particular clips. So we'll ungroup clips Then I'll grab the bottom one delete We'll take the top one click on it and then we're gonna say change speed Let's change it to 2000% Which obviously makes it run a lot faster than we'll just drag this over to here now when Doing this and if you've watched this channel for a while, you notice this is a lot of the ways I do the test we go over here and when we click play what it's going to get to is You know, it's how it ran real fast. We're still running real fast But there's no continuity difference in it So it smoothly transition because all that did was speed that up and go back We didn't actually transition to it at all We just sped up those particular frames and we can go even faster So maybe I think that's too long to wait for that test to run and we'll change this to 4,000 there we go Now it's gonna run at 4,000 speed Now you'll see my system skipping a little bit when it does that but it still plays it relatively fast And of course the final one it goes surrender will be perfectly fine. Now. What about dragging in different clips and getting them To fade back in and out of each other, let's let's show what that looks like So if we have two clips and we'll drag another one from somewhere else, let me go find some more data Let's look at the studio What do I have in the studio probably this one's got something in there? Yep, there's me actually sitting at the table And what if we wanted to fade between there? So we want to go from this but instead of a hard cut over to here Let's do it this way. Scroll over here. Actually, I want to get rid of it. So Let's just cut some of those little pieces out like that Drag it over. I'm a zoom in a little more and I left us a little bit of gap of silence So you can see where the silence overlaps from one to another and all they did was drag it up to an upper track and Say, alright, the sound stops here and starts here and let's do a nice fade the easy way to add a fade Right here. There's a lot of composition options. You can go crazy with it and stack them all together I just generally use a fade so I'm not going crazy But they do have a lot of options so you can get all You know video editing style where you do different swirls and patterns and things like that I'm not much into video editing myself. So I don't do all these It does have slide options where you can slide one frame into the other and move them back and forth and like I said You can get crazy with the transitions. I keep it simple and just do a wipe So if we hit play we'll watch how that previews So it'll go here and then I'm talking away and then it just fades into the next scene now I grab that fade Probably a little bit long, but you kind of get the concept. It's easy enough to fade That's kind of your own opinion how to do that. We'll may fade them right here instead And away we go. So now it fades a little bit faster. That looks a little more reasonable. Let's see So talking talking then we fade into the next scene And you can slice up any piece of video and move them between different tracks pretty simple going back and forth Now what if you wanted to add like a title to this? How does that work? Well pretty simple Now you can add all kinds of different assets in here and actually we pull some more up and drag them in So Sophos XG. Yeah, that one didn't have anything new Oh good. I had something in here for vdevs. I think I had a picture of something. Oh just this You can this is just a png that is formatted at the same resolution 1920 1080 And it does understand transparency. So when you drag something like that on here Just like an image which that's a horrible scene to drag it on to let me find something darker They move to a darker section of the video Because it happens to be in white. Oh, let's see here There we go If I drag it over this scene You can see that it's just some white text Now the reason I have white text and a png like that is sometimes it's easier Well, at least I think it's a little easier if I need to do something in a png and drop it over I will I'll create it externally and uh gimp and bring it in But the other thing you can do is add a title clip the title link on this is not great, but this This is a text Text title. All right, and we'll Go ahead and just uh move it there Uh make it Red there we go hit okay And we can just go drag this over And you can see it's on top of this particular one So the tracks composite from top on down and we can even uh just by dragging it They're now this lasts longer and if we wanted it to fade in we can do the wipe in So it fades in like that. So pretty simple to do the tiling now If you need to edit that particular title and something it's just kind of a pain because of the way this works If we go here to add a clip You notice it's not showing me the video behind it.  So not particularly great when it comes to titling. This is a very weak spot I'm aware of it. But then again, I don't really need a lot of my titles for my tutorials It's just usually some text if I have to throw it in there Mostly I'm sharing step by step what I'm doing on the screen and screen recording So this part doesn't bother me much that it's missing. It'd be cool if they had some animated titles in here they have ways to very basic to slide back and forth with animation, but There's not a whole lot in there for that But let's go ahead and show one more thing. So if we have Picture and a picture type thing. So now we've dragged two videos, but we don't want them to Overwrite each other. We want one to be in the corner of the other now. I'm normally doing this OBS So it's not like I have to have it done that way and actually let me Delete that because we can probably just take the talking head of me here well trim There's me talking head at that part of the video. What if I wanted me instead of talking head there We're gonna go in go to the effects So right now it's like there's two videos me in the corner Let me talking on top, but if we can go here to zoom Position and zoom and you just drag the effect you want down to here So now we've dragged position and zoom over here You notice now we have this little part here and we have a zoom. So that's actually instead of zooming We're going to zoom out by calling it 20% Then I can drag me wherever I want now. Well, there's no video below me I'm there, but when there is video you can see that I'm here. So you can now drag these around And reset it up. So if you needed to composite a couple different videos at different scales different sizes You could do it like that. That's another that's another option to do it now It does support and this is consistent across most of the effects is key framing And that's what this is when a key frame is it says let's start it Zoomed right here, but what if we didn't what if we wanted to Go here And then go here and each of these are key frames, which means we want to do something different at this frame. So frame zero 100 But then frame here We wanted at 20. So let me show you what happens. Now we hit play and I come in And slowly work my way and you can see them the numbers moving here down to the other key frame to a different size So we'll go back over here and we'll drag this key frame over here. So let's zoom in really fast So we'll go here And that zooms in a lot faster. So all depends on where you want to put those key frames and of course you can Make it even faster by doing this make them really close together And you get a different effect now if you wanted this video and we'll actually choose it here and we Put it so we got to get right on that key frame. There we go We can drag it in the preview as well. So we'll drag it right to this corner like that actually, we'll just Zero zero you can type in the numbers as well. Now when we play it we Start there Lands all the way over in a corner here. So pretty Pretty straightforward on how to do that now The other things you can do inside of here is of course some color grading and color adjustments. Those are also Different effects you can apply. They're all kind of In here. So like they're grouped together like alpha transform if you want to do gradients chroma key Data analysis rose coping. There is some motion tracking that can be done Game controls so you can correct the audio and fix if you're Like me sometimes if I pull in different sources to composite a bigger video together Then some was recorded on one device and some on another. Yeah, there's going to be some audio You have to match you have the ability to adjust the gain on any individual And any of these effects can be dragged over And what they refer to as a master effect where you drag it to that track Therefore everything on that particular track will go on that video So you don't have to like apply it to everyone individually Another nice thing though is applying things individually if you and let's go ahead and go back over to the effects And you can stack effects on a single video So we'll go ahead and get rid of positions and I don't want to do that Let's say we wanted to recolor grade this video Now the reason I'll do a lot of color grading is I don't think it helps my tutorials any also I think the video looks pretty good coming out of my main studio camera I have it kind of dialed in to get the right contrasts that I want But if we needed to make some adjustments And we'll look for color Let's say we want to A gamma adjustment that's something simple So go back over here. There's our gamma adjustment. There's our same key frames and Maybe I want to fade up. Maybe the beginning of the video Was better than the end so we start there Start there and then we'll say Here's the gamma for this part of that. We've got to get it right on the key frame So there's the gamma normal We could say the gamma is at Really low here, but then from here to here Gamma is really high and what will happen as it plays through this video It'll slowly increase the gamma as this goes across until it gets to the Darker one and then we swap it back over to light. You kind of get the idea you can go through here Now the other thing you're able to do is Drag the little lines inside of here for the adjustments for some of the effects too So you can kind of go through and there's ones for the volume too If you're having a volume up and down You can slowly do key frameable volume the same way and adjust them To kind of find your detail on there. There's also ways you can View this and expand these tracks out bigger how these are small like this or bigger Depending on how many videos and how much stuff you have that you've got pulled up So let me close that close that Let's say we're ready. We've got this video done We've got the fades in there and we'll do a fade out as well The nice thing is when you want to fade it out you can just go here And it fades out just clicking in the corners like one of those shortcuts to be able to click it in there And if you go to the effects, it just added the fade out and you can Adjust the duration Pretty easily So we have a fade out effect right here Pretty straightforward. All right, and we want to render it. So how do we finally get this project rendered after we're done? Well, pretty simple. We're going to go ahead here and choose mp4 the dominating format works great for youtube Uploads very well renders very fast And this video is uh, like see how many minutes do we have a video? So we got about 10 minutes of video a couple cuts couple fades really not much in here But let's go back over to render There's a couple different options in rendering if the first time you're on kaden live Click on more options. Make sure you have however many threads your system has make sure you have that many threads in here If that's what you want, uh, generally you want your rendering to go faster. So As many threads as possible. That's important quality 23 192 seems fine for what i'm doing No problems And there's two different buttons here render to file or generate script Generate script is not something i've explored much, but it actually has the ability to generate an mlt script for Taking all the assets and creating a script to render them with and then you could push them over to another server And actually render them on a separate server. So it's definitely an option in there But this being a reasonably fast rise in nine system. It takes no problem to render. So we have 10 minutes of video We're going to hit render to file I just left it untitled. I could have called it whatever In 10 minutes of video it says it's going to take three minutes to render It usually takes a little less it overestimates almost all the time We're just going to show though It is properly multithreaded and grabs up all the processors to get this video rendering done It says three minutes and uh Let's just wait and i'll actually fast forward this part of the video to show you just how fast it renders Okay, this one actually took a little bit longer than estimated about four minutes and 31 seconds to render this particular video There's Reasonably, I would say for every, you know, 10 minutes of video It does take under half the time basis the number of minutes when i'm editing my video But that's without color correction and all of my videos are pretty much exclusively at only 1080 not 4k once you go up to 4k the rendering does go up a little bit and i'll show that real quick So we're going to start a new project Okay, I'll drag in a couple drone videos for my test so that we're at 4k You can ask me to switch the project to match the 4k so hit switch it's going to check these these are drone videos. They don't have audio Drag one of these in real quick And uh, let's see we'll just cut a section of it and see how fast it renders from here to here drag this over And we have About three minutes of 4k video and by the way, it does play relatively fast on this this system That's also why I showed the specs at the beginning. It has no problem playing the 4k It also does have a down sampling option for if it's slower plus you can do preview rendering There's a few other features that are available in this. Let's go ahead and just make sure to leave that back at one to one So I don't forget render We'll call this one Tesla 4k test render Let's see how fast I can edit 4k. So we've got three minutes of video See it ripping through all the processors. Once again, there's nothing but a couple cuts in here. There's not any Real intense work going on in terms of color grading or anything like that And we'll see how long this takes all right and rendering Uh, three minutes and 21 seconds of 4k video took about three minutes and seven seconds And I really wanted to bring that part up because I've had a couple of people and under my last Kaden live videos and people messaged me on this saying they couldn't get 4k to work at all inside of here It's not something I really had a problem with. Uh, I mean obviously 4k takes more time to render But it still gets the job done and if you do any type of color grading Well, that's going to be a whole that will take a lot more processing power You know speed of your processor and all that will vary but it is capable of doing it So hopefully this will get you started youth kaden live and maybe later I'll try it in windows to see if it works But you can too it's the same program if you download the App image I just remember in the past it crashed a lot more in windows But in linux it's been very very solid and running it as an app image And I've been using it as an app image for quite a while now and like I said most all the videos I think Almost 100% of the videos on my channel like only a handful aren't done with kaden live I did some work with a tool called open shot a long time ago It just doesn't compare to kaden live and features and everything else I'm still only covering a very little bit of what this program can do There's so many more features that I just don't use and they're not part of my work folks are not really necessary But it is a pretty full featured program and you can't beat the price of it So being fully open source and free. Thanks And thank you for making it to the end of the video If you like this video, please give it a thumbs up If you'd like to see more content from the channel hit the subscribe button and hit the bell icon If you like youtube to notify you when new videos come out If you'd like to hire us head over to laurancesystems.com fill out our contact page And let us know what we can help you with and what projects you'd like us to work together on If you want to carry on the discussion head over to forums.laurancesystems.com Where we can carry on the discussion about this video other videos or other tech topics in general Even suggestions for new videos. They're accepted right there on our forums, which are free Also, if you like to help the channel in other ways head over to our affiliate page We have a lot of great tech offers for you and once again Thanks for watching and see you next time


I actually have them annotate the syllabus and I just want to thank Becky on this call it was her suggestion to give me a resource called compass points, like on a compass east to west north south, and each of the letters stand for a word so for example, E stands for excited, W is worried, S stands, and so right at the very beginning of the course I have them annotate the syllabus, and I have to say this works amazingly well, I get a lot of rich discussion there's a lot of questions and I instead of spending class time, you know, reading the syllabus, I can assign the annotation, annotate the syllabus assignment. And then, when they return to class or if we were virtual, then I can go through all of those points in the syllabus, and discuss it in much more detail so it really serves a few different purposes one it introduces them to and to annotation. Right at the very beginning of the semester, so they're annotating the syllabus and to is a reading the syllabus so I'm getting feedback and conversation and discussion about the syllabus which I've never done before. So it's a really great way to introduce for me to introduce annotation right right at the start of the course.


It's important to understand that what we do locally will have a local impact. And actually that even I as a consumer in the Netherlands and Sweden is connected to market where smallholder producers produce. So my choices will also determine their opportunities on their market. Now when we understand that and we work in a coherent way we can contribute to a common agenda and I think we can do a lot because it's a matter of planning, distribution and access much more than production currently and we could feed the world today.


Hello, my name is Omri Gazeet. I'm the co-founder and CEO of Acerdo, an authorization company. And I'm very excited to spend the next 30 or so minutes with you talking about fine-grained authorization and why everybody's so excited about it. First, a little bit about myself. I've spent well over three decades building software for developers, the last 15 years of which were really focused on cloud platforms, and identity and access in particular. I love doing startups. This is my third startup. And when I'm not start-uping, I'm skiing. I was super fortunate to have worked on some really cool projects over my career. I was one of the co-founders of the .NET project at Microsoft, as well as the Azure project, where I worked on Azure Access Control Service that became Azure Active Directory. And then the last 10 years, I spent a lot of time in the open source space working on things like OpenStack, and specifically I am an OpenStack, Cloud Foundry, where I was a board member, Puppet, and Kubernetes. So let's start by talking about the differences between authentication and authorization. Some people talk about them as being the same thing, off, but they really are two distinct processes. Authentication is really about proving that you are who you say you are. So in the old days, we used to do it using emails and passwords. And these days, we have password lists and biometrics and magic links and two-factor. But ultimately, it's the same process. And the ecosystem at this point is pretty mature. We've had standards in the space for almost 20 years now. SAML is the OG, the original gangster of single sign-on standards. And OpenID Connect has been around for about nine years. OAuth 2 a little bit longer than that. And we also have some fairly mature developer services. So you can use Octa or Auth0 or Azure Active Directory or Cognito to be able to implement login without having to write it yourself. In fact, no one writes login anymore. Everybody uses a developer service. So this is mostly a solved problem for developers. Authorization, not so much. Now, authorization is once you're logged in, what can you do in the context of this application? And specifically, do you as a user have this particular permission on this particular resource? Now, there are not any real standards in the space as of yet. Certainly, there are patterns like RBAC and ABAC, which we'll talk about later. And there's also no implementations at scale, at least, of developer services. Every framework, every language has a set of libraries. Every framework has a set of libraries that help you build authorization. But really, every one of these implementations is fairly inconsistent. That creates a lot of problems. The first one is bad security. And the case in point is that number one on the OWASP top 10 list of application security issues is broken access control. So they've tested a whole bunch of applications and a whopping 94% of the applications that they tested have had some sort of broken access control vulnerability. So this is a huge problem in terms of security.  And it's really hard to reason about the authorization surface area of your application. Not to mention the opportunity cost. Imagine that you had to go build login by yourself or text messaging or payments or things like that. That's just a whole bunch of wasted effort. And that is unfortunately still the state of the art with authorization. Every application essentially rolls their own. Now, things are not all bad. It turns out that a lot of technology organizations in the last couple of years have been looking at authorization as something that they need to centralize. And they've been giving it to their platform services teams or central services teams to go build a single consistent implementation. And they're writing about it. So a lot of technology organizations have written papers or blog posts or have given talks about how they do authorization. And if you look at all the different patterns that they've written about, they're really five that bubble up to the surface. And we contrast those here with some of the old school or anti-patterns. The first one is that each service does its own authorization. This one's kind of obvious. And the modern best practice is that these technology companies are basically empowering their central services teams to go build a purpose-built authorization service that all the other microservices can actually go rely on. The second anti-pattern is to use coarse-grained roles that are baked into the applications. And the modern best practice is to replace that with fine-grained access control, really adhering to the principle of least privilege. What that principle means is you want to basically give as much permission to the user as they need to be able to do their job, but no more than that. And the reason why is because if you have a compromised identity, you want to limit the blast radius of what that user can do. And so it just makes sense to lock down permissions as much as possible. And that really is the impetus for fine-grained access control. The third one is that you find in the old school way of doing things, authorization built as a bunch of if and switch statements in each of the microservices. So authorization spaghetti code is what we call it. And the best practice is to extract the authorization logic out of the microservice, out of the application, and store and inversion it separately, really achieving a separation of concerns that enables, in turn, another important security principle called separation of duties. So you have the application developers worrying about the application code. Then you have people who really reason about the authorization surface area able to go look at all the authorization policy altogether and figure out whether that authorization policy makes sense. The fourth anti-pattern is treating scopes that are baked into access token as permissions. And the modern best practice is to make a real-time call to an authorization service right before you want to grant access to a protected resource, a real-time access checks. Why is relying on scopes baked in access tokens bad? Well, for a number of reasons. First of all, they basically have a lifetime. So as soon as you mint that access token, it's good for two hours or two days as long as that access token is good for. And so if you want to actually take away permissions, that's not quite possible without token revocation, which is a really complicated thing. If you're making a real-time access check right before you grant access to a protected resource, you don't need to rely on essentially kind of stale tokens. The other thing that these tokens don't really give you the ability to do is fine-grained access control. So let's say that you wanted to grant somebody the right to read a document. If you put a read document scope in an access token, well, the calling application can go look at that scope and say, OK, the user can read a document. But which document? All the documents? Are you going to go create a scope for every document that the user has access to at login time? Clearly, it's just not a scalable practice. And then lastly, most applications, sadly, barely even have a trace of the folks who have logged into them, much less any kind of fine-grained auto trail of what users have done in the application. And the modern best practice is to have comprehensive monitoring, basically record the decision log for each decision that the application made and be able to centralize that for compliance and forensics. Again, a breach is not a matter of if. It's a matter of when at this point in time. And so once you detect that something happened, you really want to know why it happened. You want to have the forensics to figure out how the application did the authorization, what the application authorized the user to do. And of course, it's also very important for compliance. You need to be able to prove that users were only able to do what they were allowed to do within the scope of the application. Great, so let's dive into each one of these. The first one I want to dive into is this idea of purpose-built authorization service. It seems like it's the new hotness. Everywhere we look, there's some tech company that's writing a paper about it. So it started out about three years ago with Google, writing about their Zanzibar system. Zanzibar is basically their distributed system for access control for a wide variety of Google services. Google Docs, Google Drive, Google Calendar, Cloud, and so on and so forth. And it's a large-scale, planet-scale service. And one of the things that they've done is they've created, essentially, this new model that they coined the term relationship-based access control for. And we'll talk about that in a couple slides. Intuit, built one that's based on a different set of principles, more of an attribute-based model. Himeji from Airbnb was inspired by Zanzibar. In fact, the architect for Himeji was one of the folks on the Zanzibar team. Steve from Carta was also inspired by the Zanzibar paper. Netflix is, again, more of an ABAC model. So we have different types of implementations, but all these folks are basically building these centralized services and so that every one of their application teams doesn't have to reinvent that wheel. The next principle is fine-grained access control. And so let's go down a trip down memory lane here and talk about how that's evolved over the years. So back in the 80s and 90s, we had Unix systems and later on Linux systems and NT. And those were lied on access control lists. Basically, the type of question that you answered with an access control list was, does Alice have read access to this file? A file system had read, write, and execute bits for users and groups and other. And that was basically the as fine-grained and access control models you could get with Linux systems. Now in the 90s and 2000s, we saw this new idea called the directory. LDAP, and later on Active Directory, basically ushered in this idea of role-based access control. So roles were typically implemented as groups. So you, for example, had a group in LDAP or Active Directory that you put users in. And that would correspond to a role in a business application. And you could answer questions like, is Bob in the sales admin role by seeing whether Bob was in that group? You had this idea of nested groups. And life was kind of simple but pretty clunky and very much course-grained. The problem there was that you had this group explosion where at Microsoft, I remember we had, let's call it, 50,000 users at one time and 250,000 groups. So it was impossible to reason about what permissions users actually had. In the 2000s and 2010s, we had this new idea called attribute-based access control. And the idea there was that you basically computed access control decisions based on attributes, either on the user or on the resource, or even environmental attributes. So you could answer questions like, is Mallory have access if Mallory is in the sales department and the document is in the sales folder and it's currently working hours? So you could write a policy that evaluated all those attributes and gave you a yes or no answer. The original system that implemented this was known as ExactMall. That's kind of like the original gangster of the ABAC systems. And of course now in the last five years, we've had successors to that and I'll talk about that in the next slide. And lastly, we have relationship-based access control. Like I said before, it actually predates the Google's ends of our paper but Google really repopularized that model. And the idea is that you basically have relationships defined between subjects and objects. So for example, a subject like Eve is a user and she can be in a group and that group can have say view access on a folder and there can be documents inside that folder. And so we can answer questions like does Eve have read access to this document by chasing the edges that link between that subject, Eve and the object, that particular document and see whether those edges carry the read permission. So after the history lesson, let's fast forward to the present. Over the last five years, we've seen two different ecosystems emerge around fine-grained authorization. The first one I call the policy as code camp and the flag bearer for that is the open policy agent project which basically started from the ABAC view of the world. And so there's a lot of stuff going for it. It's a CNCF graduated project that graduated about two and a half years ago. So there's a single mature open source implementation. It's a general purpose decision engine, fairly flexible and primarily used today for infrastructure authorization scenarios like Kubernetes admission control. And it's really tailor made for policy-based access management and ABAC. It's essentially the successor to XACNL. Now there are some drawbacks as well. The language has a high learning curve.  It's really an unopinionated language. So you have to kind of design your authorization model from scratch. And it's a little like, you know, writing something in the Semblr language. And furthermore, you really don't have much help with how to manage data in the system. OPA has an effective policy plane, but it doesn't really have a data plane. So if you want to start with OPA, you have to kind of roll that out on your own. On the other side, there's the Zanzibar model. I call this the policy as data camp. And like I said before, Google built their model over an abstract model called REBAC, relationship-based access control. They didn't invent it, but they certainly popularized it. If OPA has no opinions, REBAC has plenty of opinions. It's a very opinionated model. And the idea is again, like I said, you're modeling your access control rules essentially as data, as a set of relationships between subjects and objects. And so if your domain looks a lot like Google Docs, you have subjects like users and groups and objects like folders and files, you can very much use this as an opinionated model that you can start from. Now it's a fairly immature ecosystem. There are at least half a dozen competing open source implementations because Google didn't open source anything. They didn't even write a spec. They wrote a technical report. So there are a bunch of different open source implementations at this point. And they don't really share any common schema language or a common data language. And it's also hard to extend the REBAC model into attributes, although some of these projects are starting to do that. They each do it in kind of an inconsistent way as well. Now, fortunately, there's a third path. We call this the don't succumb to the tyranny of the or. A lot of people think of these as competitive ideas, but we think of them as complementary. And so Topaz is a project that a sort of my company maintains. But the idea there is to take the best of both worlds. You take the decision engine from OPA and so you have a policy-based access control model that supports attributes. And you take the Zanzibar directory and you kind of put them together in a single open source project that's delivered as a single container image. So here I have a reference, a URL to Topaz. Go check it out. The QR code will also take you to the GitHub repo. The next principle I want to talk about is policy-based access management. And as a reminder, this is the idea of lifting the access control logic out of the application where it's expressed as if or switch statements. And instead expressing it in its own domain-specific language and storing and versioning it as code just like any application artifact. So we're here to have a policy written in Rego which is the surface syntax for the open policy agent. This happens to be a Topaz policy because it has a little bit of an Easter egg here that basically makes a call to one of the Topaz built-ins that computes the policy based on a relationship between a subject, the user, and an object, one of their reports. So this policy has two allowed clauses, one of them uses attributes. So basically you're allowed if the logged-in user's property is a department property, I should say, equals operations or you're allowed if you're the manager of this particular user. And so it's important to note that it's not just OPA that adheres to this principle. Any Zanzibar-based system also equally believes that you should extract that policy logic, don't express it as if in switch statements inside of your application, instead store and version it as a domain model. But what does that get you? Basically, instead of having to go, again, like I said, write if we're switch statements to express authorization logic, you can go use a middleware. So here we have this checkout Z middleware that we've placed in the dispatch path of this route handler for this node.js, this express.js route handler. And all we have to do is just tell the developer to make sure to call that middleware. That middleware makes a call to an authorization service that computes a decision. If that decision comes back as access denied, the whole route gets basically returns an access denied, otherwise you dispatch to the next handler here. What does that give you? It allows you to store and version that policy artifact just like you do application code. And every policy change is part of a get change log. So every access control change that you wanna make in the policy is logged just like any other get change. So that means that the policy can evolve from using a different team. So a different team like the security team can own that policy and it's decoupled from the application logic. The application delivery team doesn't have to worry about how to evolve that access control logic. And the security team can reason about the entire surface area, authorization surface area of the application. Lastly, we think of these policies as something that you should treat just like any application artifact. So application code, you build into an immutable image, typically a docker container. That's how you distribute it. And that's the same thing that you should do with policies. You should build them into OCI images and sign them using something like cosine to secure the software supply chain for these artifacts. And in fact, here I have a reference to a project called the Open Policy Containers Project which is a CNCF sandbox project. A service also involved with that. And you can build not just topaz policies but also any generic OPA policy into a container image, sign it with cosine and verify the signatures. And lastly, I wanna talk about real time access control. So this is where I kind of go into my infomercial about authorization actually being a distributed systems problem. And I'll explain what I mean by that. You really need to do authorization locally. Authorization is different than any other developer service because if you think about things like Stripe or Twilio or even Auth0, those are hosted services and it's fine for them to be hosted because you basically make a call to them and it's important that that call complete and it's important that they maintain a high SLA but it doesn't really matter if it happens in a second because it turns out that it's not really in the critical path of every application request whereas authorization is, if you're doing it correctly, you're basically making a call to the authorization system right before you grant access to a protected resource and that can happen one or more times for every user request. So it's gotta be fast. It's gotta be done in around a millisecond and it's gotta be 100% available to the calling application. So it can't really be a hosted service. But you also wanna be able to manage all of the policies and the data that's used for authorization in a centralized manner. So you really need to have some kind of control plane that allows you to manage the life cycle of policies and as well as all the data, all the user and group and resource data that are used for policy decisions and relationships and be able to mediate those decision logs back to a centralized control plane. So data about users comes from an identity providers, data from the source code for policies comes from a source code control system and then decision logs really want to end up in your scene tool, in your log aggregation tool. So you really need kind of this central control plane that allows you to manage all this stuff at scale. So as we bring this presentation to a close, I wanna close with what we call the five laws of authorization. If you're building an authorization system for your entire organization, you wanna have it have the following five properties at the very least. You wanna be fine grained and you wanna be also flexible enough to support all the different types of authorization models. So RBAC, ABAC, REBAC, any combinations of them. You wanna make it policy-based. So you really wanna make sure that you give the opportunity to the application developers to not have a bunch of switch and if statements in their code and instead allow them to extract the authorization policy out of their applications and store and version it as its own artifact that you can actually go build into a signed image. Make sure that authorization is done in real time as a local call executing over fresh data. And yet you wanna have central management of the policies and all the resource data that are used in authorization decisions. And finally, you wanna aggregate, centralize and aggregate all the decision lines that come out of these authorization requests so that you can use those later for compliance and forensics. And if you're building a system like this, you also want some non-functional requirements. You wanna make it super easy for your developers to adopt. So you wanna have a system that allows you to do authorization to an external system with a single line of code. You wanna be able to have it integrate with all of the systems you already have. So identity providers, source code repositories, artifact registries, logging systems. And finally, it's important for it to be open. So you get a lot of ecosystem effects from betting on Kubernetes native technologies like Open Policy Agent and Topaz. Now, this is a lot of work to do and fortunately there are some places to start. There are open source projects that you can start from. OPA is one of them. Topaz is one that I've talked about as well. It's the project that my company maintained. So we're very partial about it. This is a QR code for getting to the repo. And Topaz, we'd like to say that it's fast, flexible and easy, fast. It does authorization in under millisecond, flexible. It supports all the different access control models, all the backs as we like to say are back, aback and reback. It runs in any cloud. And finally easy, it has SDKs, it has GRPC APIs, it has REST APIs, GraphQL APIs, SDKs from every language. So it's super easy for your developers to incorporate no matter what language they're using. And lastly, my company, Asurdo, basically builds commercial solutions for authorization. So if this is not something that you want to roll out by hand using open source, we're happy to provide you ready-made solutions. Thank you so much for listening over the last almost 30 minutes. Please come find me on social, Omri G at Twitter. Omri at asserto.com. If you have any questions or comments, we'd love to answer. Join our Slack, it's at asserto.com slash Slack. Check out our repo. That's asserto-dev slash topaz on GitHub. And let us know what you think. Thank you so much.