Transcription
All right, guys. Welcome back to the channel. We're finally going to be getting back into the swing of things, getting content rolling out for you. And it's not easy here behind the scenes. We really have done a lot of work over the past couple of months.
Leading up to Christmas was intense. We really did uncover a lot of crucial data and the SEC were very interested in that and that was the whole point of me needing to travel to the United States. What a lot of people probably don't understand is if I hadn't gone to the United States, if I hadn't done what I did with the data and I hadn't spoken in the courtroom and mentioned there are a lot more funds that TFL didn't deal with, well then the case would have been closed. We would not have got that all-important extension and we'll be getting on to that shortly.
But what I want everybody to really try to understand is the gaps that you guys see where a lot of people get irritated like you know he really doesn't care about Terra Classic. Look, he hasn't made content for weeks. It really doesn't boil down to that. What it boils down to is money. Each and every one of you wake up each and every day and you go to your day jobs, right? Myself, all I have is YouTube and outside of that, I do structural engineering work, which is essentially creating drawings for building sites and then getting paid in return for that on a self-employed level. We earn absolutely nothing from YouTube. We earn absolutely nothing from the validator. And we have about a £2,000 running cost for Lunk Dash and all of its attachments. So, it's really not easy. Like I said here behind the scenes, I think I spent around $7,000 to $8,000 just going to the United States and doing what needed to be done. And again, this is stuff that no other validator would ever do. I really don't know a validator that would do something like that. And if they were going to do something like that, why haven't they done it? Nobody seems that interested in really reviving the chain. Instead, a lot of people, and I get it, they're more focused on their projects.
But what a lot of people need to start to understand and gravitate towards is we are really at point critical. If things don't change and people don't start to do stuff for the blockchain, and I don't mean spin up a coin and start to divert holders or create some kind of vampire rep which is going to devalue USC, which makes up a portion of your rewards, which is around 35% of what you receive in commission. So, it's really not a good idea. Even though the rep idea itself is great, we're just not in a position where we can begin to devalue a portion of our overall commission. And that's for you as a delegate and validators across board. The active set is dropping and it's going to continue dropping. And the only thing that is going to fix this blockchain from my perspective is raising the price of the coin and removing the sell pressure. And a huge substantial burn of Terral Luna Classic coins and USC coins really could lead us to something amazing.
And what I'm going to do is just get this data up on screen because I want everybody to really understand how serious this situation is. On the right hand side, you've got the outgoing transactions. And then on the left hand side, you've got the incoming transactions. And this is for TfL's assets that they sent to Binance, USC specifically. And I mean, look how much bigger, right, the incoming list is compared to the outgoing list. We are talking over 3 billion USC that was missed just here on Binance. This isn't adding in the other I think it's 4.9% of the overall USC supply that's remaining in Project Dawn. And this is why the SEC was so interested in all of the data that I have produced. And what I had to do was make everything verifiable. So they can actually go in themselves and they can verify each and every one of these transactions. So they can then go into a courtroom and say, "Look, these guys have missed all of these assets, and we're going to need to see them burn."
From what I understand, and the people that I spoke to, the SEC is supposed to have a list of every single one of TfL's wallets with the seed phrases. This means the SEC has the ability to come in and burn those coins because guess what? TFL, Duco Kuang, Chris Armani cannot come back into the cryptocurrency environment. Terra Classic, Terra Luna, period. So, they're not coming back to burn any coins. And this now falls on us as a community. And all of these assets that are non-native assets, right, all of this BTC essentially belongs to this blockchain. And this is something that I was made to understand from a legal perspective. If we as a blockchain get our frogs in the right basket, so to speak, and somebody takes control of a situation, we pay a legal team. We actually hire a legal body to go out and secure all of these funds, right? And we give them a bumper payment to begin with and then they work on a basis that for whatever they secure, they get 1% of whatever that is. I'm just making these numbers up, but something that's really going to work for both parties.
What worries me and concerns me the most at the moment is, and I'm just going to come out and say it, a validator like myself should be ranked one above all nodes. And I'm not trying to be bigheaded or like, you know, I do so much and I'm so much better than everybody else, but I just don't see other people making the same commitments that we are making. Whilst I was in the United States, just watching from the sidelines of people wanting to create another website because David Schwinder's website is now wanting donations like it said it was going to, and someone wants to create a wallet, people wanting to take a load of money from the chain suddenly. And it's like, it never ever stops, does it? We just go around in circles and you've been waiting for a rep coming up on four years.
The movement I truly believe this and all of the people who are like, "Oh, burns don't do anything." Well, why did BMBB burn? Why does CZ Binance burn BNB quarterly? They do it to remove the sale pressure and that's what burning is going to do. If each and every one of us walks around and says, "Well, the Teletubbies are whack." The majority of the other people that are stood in the room are probably going to think the Teletubbies are whack. If all of you are going around saying, "Well, you know, the burning doesn't do nothing. It's not bullish. It's bearish." Well, that's exactly what's going to happen, right? If she enu was in the position that we're in right now, oh my god, they wouldn't shut up about it. They would be howling to the stars and the moon and the sun and they wouldn't sleep. It would be absolutely crazy. Matthew Perry would be all over this. But the difference is it's not. We have a community that is essentially very down in the dumps. And a lot of people have for whatever crazy reason suddenly decided to delegate with validators that are building projects, right, that are yes, at some point using Luna Classic, but now they're just their own project. Now they're going to be moving out and branching out onto other chains. We need more action chain wise. We need more people coming in and doing stuff that is going to make a difference. like this burn. You're talking about 50% almost of the total USC supply that yes is going to burn.
All of the data has now been sent over to the SEC through the whistleblower program. I've also given them the ability to go in and I've taught a few people that are part of the SEC, right? How to verify transactions through Lunk Dash, how to harness the technology to go out and actually verify this themselves. This isn't where I've come half I've put 1,000% effort into this to the point where I had to sacrifice my own Christmas with my two kids. My youngest, he's just come on to his first Christmas. My eldest, this is his fifth Christmas. And it was just the worst thing ever. But if I didn't go, we would not have got the extension. And what would have happened is case closed, done and dusted. And then from what I understood from a legal perspective, there's a statute of limitations as to how long we've actually got to do this. So they obviously put this order forward and they wanted to extend the deadline. We talked about this in the previous video and they have now yes in fact confirmed that extension and that will be until December 2026. So we've got a year to get this whole thing done and dusted and I think we're way ahead of it all. I think we've done all of the right things. We've moved in a legal manner and we've done everything professionally and instead of me sitting there talking about it all and making videos. No, it's been head down and I've been working and any spare time I've had is been going into doing structural engineering drawing so I can earn money to continue being here in LUNC.
At this point, I'm just emptying my wallet each and every month into Terra Luna Classic and we get absolutely nothing back but a pat on the back. And you know, that's what we did it for. We we did it all nonprofit. But it gets to a point and I think this is what a lot of people are going to need to understand is if things don't change right and validators like all nodes don't start moving down in the ranks and actual validators building right start moving up in the ranks well I'm not going to be here in a couple of months time and I'll run the validator for as long as I can right but I'll have to leave and stop creating content stop doing research stop chasing these funds. Stop working with the SEC. stop doing everything I'm doing because I have a family, right? And they depend on me. And I've been doing this for 4 years now and I'm at a point where I have to be an adult about this and I have to draw a line in the sand and say if things do not change, I'm going to have to walk away. But like I said, I'll continue securing the blockchain. I'll continue running my validator until the chain is not running anymore. But again, I have to stress this. I will not be here. Period. And that is a sad sad thought in my head. I never ever thought I would get to this point.
It really does suck because YouTubers that are, you know, in my position, right? They are loving life, Lamborghinis, living in Dubai. They're doing promos here, there, and everywhere. And they're just essentially just living their best lives. They're feeding their families. They're having a great time. And it's like, what am I doing wrong? Like, I don't understand. Like, these guys scam people and they do all of these crazy things. and you're just an honest going average Joe YouTuber that has fully doxed himself at this point. You know, I've got my camera ready. I'm going to be putting it on probably in the next few videos. So, keep an eye out for that. I'm going to stop babbling. We're coming up on like 13 minutes. But just know everything's done and dusted. You guys, I'm going to be doing a broader update where we go through all of the funds. Specifically, we're going to look at USC available. We're going to look at the Luna Classic available. We're also going to look at how much Bitcoin is readily available for the SEC to go out and secure. And then we'll talk about the legal routes that we could take as a blockchain in a decentralized manner to secure a portion of that Bitcoin. I think it's crucial considering there's like $30 million worth of it. It's, you know, something that we, yes, are entitled to as a blockchain, but we're going to have to work together collectively as a blockchain because stuff like that you definitely need to pass through governance. There'll definitely need to be community pool spends and all of those other different things.
But look, couple more videos coming today. Got some weird stuff to go through, but it just really shows you how crazy some people are and the nonsense that people like Greenpeace make up. I'm going to disprove everything that he's been saying whilst I've been uh in the United States about all of these assets and Luna's building up this crazy plan and this that and the other. Yeah. No, mate. Wrapped assets. Look, stay safe, stay humble, stay aware, and as always, my own brace.