[00:00:01] Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Thank you for that, Bailey. And welcome everybody out there on Crypto Talk radio,
[email protected] I really don't feel too good. Usually when that happens like this, it means that the weather's changing and I certainly feel it. We've got inconsistent weather. The weather can't make up its mind if it wants to be freezing cold or hot and it's going up and down and it sucks. That's usually how my body reacts. And I have. It just. It's a horrible feeling I can't stand. It doesn't matter where I am. It happens all the time.
[00:00:43] So you'll forgive me, but today's episode is not going to be too long. I also didn't have too many topics. I am going to do a 101 today because unfortunately I stumbled across a YouTuber who was giving faulty information in apparent defense of a friend of his. And this. There's no friends in crypto. So, you know, if you got that in your mind, set it out. There are no friends in crypto. There's only the truth. And I'm going to hit you with the truth and that's going to be my one on one. And I challenge you to look at every instance back that I back up. I'm going to share those so that you can understand what the person was saying is a bunch of crap and I'm just going to call them out on it because I have to. I need you to understand the truth because it's the only way to keep you safe. I don't have a choice in the matter.
[00:01:26] I'm going to briefly talk about Block Dag. Not a lot. And I got a couple news bits but nothing significant.
[00:01:32] Fortunately, it's somewhat quiet and things happened that I suspected would happen. Davinci. Jeremy's kind of gone nuts again. It's kind of in a spiral, but we'll dig into that and talk and see what we find. And once again, if you have any questions, CryptoTalk FM hit the contact form. Let us know. We're happy to help you out if we can or comments below foreignesk.com let's zoom out to the month chart starting with bitcoin. And the reason I want to start with bitcoin, of course, is that bitcoin is doing the same thing that it was doing last week, which is roughly trading Sideways currently just shy of 112,000 bucks over the past 24 hours. 113,000 bucks on the high side, just shy of 111,000 bucks on the low side. Middling, it's right in the middle. It's not really doing anything significant.
[00:02:26] Ethereum then looks somewhat similar, but not quite similar. There's a couple of things I did notice.
[00:02:32] Currently at just shy of, you know, it's a little bit over 4300 bucks. Ish.
[00:02:37] And then it has somewhat of a slight upward. At least it looks like a slight upward trend compared to what Bitcoin is, but not in the short term that we got a little bit of ways sideways before then a run up. So it may be that bitcoin will do the same. But Ethereum certainly seems to have inklings of a potential run up here in the near future over the past 24 hours. A low just shy of 4300 bucks. A high of just shy of $4400. And you're wondering why I say what appears to be an upward trend. It simply is that if you look over the past couple days, like over the last week or so, the bottom resistance seems to be holding rather steady and I don't see significant crap out and I don't see significant trouble which usually proceeds a run up. Not always, but it usually does. So I'm going to estimate or guesstimates probably better said that we all are going to see somewhat of a run up on Ethereum here in the near future. How far out? I'm not really sure. Ethereum is one of those that's still always a confident gamble because it's Ethereum.
[00:03:40] So then if I looked at bitcoin, and I do comparison, as I said, it felt like Ethereum kind of broke away from bitcoin at least slightly, at least for this period. Ethereum still sitting in that building range and can't seem to get away from the middling range. And then it was a bunch of garbage that launch Somnia and other trash tokens that launched and took a little bit of liquidity away from all the other tokens. Binance, the BNB token is still running strong as is Solana.
[00:04:05] So I don't suggest that we are in trouble by any means. I do think that there's opportunity, but it's one of those where you have to be kind of solid. And I will maintain as I have done, especially now if you've listened to me for a while, welcome back. If you haven't, welcome. But I said in an Old episode that my recommendation was to look into rare metals. I don't know if you've been paying attention, but the price of gold has been on a pretty good run very recently.
[00:04:30] I think personally it's not going to go too much higher, but it looks very good from what I saw. And I bought in, you know, before this, because I did see that there was going to be some sort of a buy back in, in 2025 in rare metals overall.
[00:04:47] But just to kind of give a perspective, you know, the price of gold per ounce, we're talking. The price of gold in 2024 was just 2500 bucks. We're up to like a thousand over that. With a sharp upward trend in just the last month, you're talking up roughly 10%. You can't shake that. You can't overlook that. And people might be curious, okay, what's really going on? There's a couple of things I'm going to speculate, and I'm only speculating because I feel it when I bought in, and I'll talk about that in a second. But number one, when people start looking at rare metals, it's because rare metals by and large represent stability of asset. It doesn't mean they don't go down at times, but they, they don't crap like others. They just don't. It's just a steady upward climb. So if you can buy and buy and buy and buy, at some point, it's got to plateau. At some point you're going to see sellouts going the opposite direction. But over just the past, let's say three years, four years, all we've seen is an upward trend, a strong upward trend. The sentiment is shifting towards rare metals and as part of a diverse portfolio. And people, I think, I think are paying stronger attention to rare metals overall. Not even just gold. Palladium is up as well. So I do think it's just rare metals in general have caught more eyes as part of a diverse portfolio.
[00:06:11] The other part, and this comes from something that I think this is Texas or somewhere, there was a place where they had. There was a mining facility near people's houses. I think I talked about this, but there's a mining facility near people's houses. And they were complaining. And you know, you talk about hicks. These were people that were living out in the country, just quiet and all that. And they were complaining about noise and all this. And I said that you should not have a bitcoin mining facility anywhere close from a zoning perspective to a bunch of residential plots in My personal opinion, but I guess they had the land, they inherited the land over generations. So it just is what it is.
[00:06:48] But those people were talking about and some of the older folks were talking about, they don't understand and they don't agree with the whole cryptocurrency. They don't get it. Most of the older generations, and I would consider myself one of these, that's why I know and I can resonate what they're talking about. Most of the older generations feel that cryptocurrency is a scam. They feel like it's a house of cards, Emperor's New clothes. There's nothing really there.
[00:07:12] They're, they're right. Nothing is really there other than money.
[00:07:17] So you have to think about it in terms of the. What are people jumping on? They're jumping on the fact that institutionals are getting into this asset that's really not got anything behind it. It really doesn't. Banks haven't gotten on board yet. Why not? Because they know that fiat makes the thing go around. Fiat makes everything run. Everything's paid off. Fiat, as I've said, that's the way it's going to be.
[00:07:40] So when the older folks are looking for stability in their retirements, right, These are people that don't have significant disposable. The people that are hyping this stuff, they're the people that have significant disposable. So they're, they're biased because they got a lot of money to throw at the stuff. But people that don't have a lot of money to throw at this stuff, they're not looking at cryptocurrency as the be all endo. I certainly have not.
[00:08:04] And I do have money to throw at it. I've got crazy amounts of cash, but I don't see a value in throwing a lot of it, gambling a lot of it on cryptocurrency. I do have some cryptocurrency, but it's a small, you know, throwaway money. I've got throw away money and a bunch of different things just to watch it over years and you know, who knows, maybe it turns into something but it throw away money. If it doesn't, I don't really care. And that includes bitcoin.
[00:08:26] So I can resonate with my peers and some elders, but peers certainly is the vast majority that believes there's nothing to this cryptocurrency thing. They're not buying it.
[00:08:36] No pun intended. You know, they're listening to Jim Cramer talking about now he wasn't Doing that before but now he's talking about buy it, buy it, buy it.
[00:08:44] Nobody's listening to him. Like you might think. They're not sold, they're not buying in. They think it's a scam. I'm telling you this, the voice of the older folks, they think it's a scam and they're right to think that because in a way it is. There's going to come a time and I'm going to put this and you can hold me to it.
[00:09:01] There's going to come a time when the institutionals are going to sell because they have no choice.
[00:09:07] If we hit another recession, which we are close to, ironically, if we hit another recession, they are going to sell that asset because it only makes sense from an accounting perspective.
[00:09:18] The whole tax structure is still uncertain. They don't know what the tax thing is. They don't know any of that. Looks like if the IRS comes out with rules that make this stuff it heavily taxable, they're going to sell the stuff and they're not going to hold it again. I'm not trying to tinfoil you, I'm not trying to freak you out, I'm not trying to panic you. I'm just telling you what is. They're going to sell the stuff if they see any risk to their assets or their positions or any of that. So time's going to tell. And that's why I think personally that I think it's a risky bet. I'm not suggesting not to have any. I've said I do think you should have some. I just think that people should hedge right now and not yolo into it. The price pattern I see on rare metals, specifically gold and palladium and platinum, but the price I see, the price shifts I see with rare metals seems to confirm what I think, which is that a lot of people are hedging, a lot of people are kind of holding because they don't know what the tariff things gonna look like yet. Long term, they don't know what the resolution of the war thing's gonna look like. Long term, they don't know what the military situation is going to look like. Long term. This new Chagas disease, or shouldn't say new but spreading Chagas. There's all these things that are uncertainties that create risk that people want to prevent and avoid. And so I don't think that we are at the point where we're going to see anything significant in the short term. But I just believe people are hedging their bets. They're holding off and they're putting it in safer assets for the short term and then just kind of playing the field and those people may miss out or they may be keeping themselves safe.
[00:10:50] I also feel like bitcoin to me I felt like we got to go down and I targeted 80,000. Some people say 50. I don't think 50, but maybe, I mean that would be, that would, that would be shocking. 50 would be shocking simply because it's just so low compared to where we are. You know, that's, that's a third of what we hit.
[00:11:12] So I don't know but I feel like 80, 80 feels much more palatable.
[00:11:17] But there are also, you know, people waiting in the wings to sell when it hits certain points. We know that's true.
[00:11:23] The bottom line is diverse portfolio is what I'm going to recommend to you. I'm going to keep on recommending that to you. It's up to you what you choose to do with your cash. Can't tell you but I'm going to hold fast to that. And I'm going to strongly recommend looking into rare metals.
[00:11:38] And don't let that the price throw you. You know, you can get smaller portions of rare metals. You can get grams of rare metals, ounces of rare metals. Ounces are more expensive than grams. Obviously it's all by weight. But you can buy and you can stack and you can stack. You know, let's say you get, let's say you have 50 bucks free in every check. Are you going to gamble that in cryptocurrency or toss it into rare metals or toss it into your 401k? It's all the same thing. At the end of the day that rhymes. You also have to think though, one of those that I just talked about is a very risky asset, that being cryptocurrency. It's your risk. If you choose to take said risk. Nobody can tell you not to.
[00:12:14] In other news, the Dogecoin ETF is scheduled to go live this Thursday.
[00:12:19] Recently got approval at least. This was announced on X from one of the analysts that was in that one for Alpha. This is 21 shares by the way. For reference, there are a number that are crypto related that are kind of waiting in the wings. XRP is out, Cardano's out. Hedera, which by the way Mr. Zach XBT called basically worthless and a waste of time. Hedera is going to have its own etf. Is, is still waiting in the wings or is proposed, I should say polka dot.
[00:12:50] So there's A number of things happening on the ETF side. Litecoin as well.
[00:12:54] And it's, I don't think the dogecoin was going to make a move too much of a dent because it's got, it's, it's inflationary. So I don't, I don't expect it's going to make too much of a dent. I could get it wrong, but I don't think it will. But the ones like the litecoin one, I think that's a good one for sure. I honestly think the XRP has long term potential and I do think that the Hedera has a long term Hedera, if you don't know, is backed by some major players. Some major players got together to create that one. So you know, the irony is Zach XPT calling that one a waste. You know, it's whatever. But I'm, I'm gonna go on record by saying that I think that I personally think that the Hedera one has long, strong long term potential to be something really strong.
[00:13:44] Speaking of Zach xbt and then we'll get into our other good stuff.
[00:13:48] So Zach xpt, I did it out of cycle and I talked about the fact that he was criticizing Block Dag and he said some rather terse statements with no backing and no information and no receipts shown.
[00:14:00] But he really crapped on Block Dag, essentially saying it doesn't do anything. There's a bunch of dumps, there's a bunch of whatevers. Now I find it ironic that he said that, but yet with World Liberty Financial, which is Trump Families Project, he was praising it like crazy, celebratory on it. I don't know if you've been paying attention, but World Liberty Financial completely crapped. Very most recently.
[00:14:23] It did have a run, but it didn't last Harley at all. And then there's the freezing of wallets. Justin Suns got frozen, a number of other people got frozen and what they said was they're trying to keep people's assets safe and protect people from dumping off the project. Well, that goes against the whole concept of decentralization. Sure.
[00:14:42] So the point is, I find it ironic that Zach XBT was absolutely happy to trash block DAG with no evidence of anything. He was saying he was making claims and no evidence of anything, thought as a trash project. But yet with World Liberty Financial, which blocked a bunch of wallets, we're talking medias, hundreds of millions of dollars blocked a bunch of wallets. Basically a pump and dump because some of the early ones got out and Dumped off the project. It hasn't really recovered. And then you talk about how it's enriching the president, right? Because you know, he wasn't a billionaire before this. So then he got over a billion assets as a result of this launch. Yet Zach XPT is not consistent.
[00:15:24] This is why I'm calling out. Because the guy, I understand people trust him, but ever since his rug pull, because he did rug pull that token, he's not been the same guy. He's putting out inconsistent findings. If you're gonna call out Project A for shady shit, you need to call out Project B for shady shit. If you don't do that, you're gonna get called out on it. That rhymes. So I'm just saying he's not calling out World Liberty Financial like he called out Block Dag. And I wonder why that is. Maybe he's an insider. Maybe he dumped a bunch of money in there, made a bunch of money off of it. I can't say for sure. I'm saying that I see inconsistent behaviors with Mr. Zach XBT in unrelated news, Saitama, the Scam Syndicate. Did. Did you notice that somebody took over, apparently took over, Cult leaders account, Saitama Guru1, because I'm pretty sure that was the username. And I did check across search just to refresh.
[00:16:20] That account has been apparently taken over by somebody else, who then deleted all the different posts. It says join August 2024. Now, obviously cult Leader was on very much before that, so I don't exactly know what's happening on this one, but somebody took it over and they've been putting a bunch of stuff up, weird stuff. Talking about Saitama and criticizing Rezer, which is another scam. I don't know what's really happening, but point is, it's pretty funny and I do recommend you take a look at it. It's got, you know, pictures of the new mistress. You know, I. I do recommend that you take a look at what's going on with that one. Just to get a good laugh if you're in the Saitama ecosystem. Absolutely.
[00:16:59] And then speaking of Block Dag, I. I need to clarify some for some folks and then we'll get into our 101. I need to clarify for some folks, I think they misunderstood. I think even Binance stuff might have misunderstood because it seems like I'm either muted or blocked on his channel because I've sent comments in response to things he's called out because I want to keep a dialogue and open mind, but my comments don't show up. So I assume I'm either muted or blocked for whatever reason. I think I'm pretty reasonable. The. The Block DAG Investors Channel account came by and they said, you seem like you're pretty fair on the level. And I try to be. That's what I'm saying. I'm not gonna trash just outright because I don't like that I'm being misled, because all crypto does that at this point, the bar is low. All I'm saying is they gotta launch something and not have a lockup. Well, they already said they're not ready to launch.
[00:17:49] There's a lockup, but they don't know exactly. You know, there's still some tokens supposed to be released. We're not going to know till they launch the marketing. All crypto does that. I mean, there's nothing there that others don't do. Look at Somnia again, trash. And yet it launched it as a Layer one blockchain, but it's crap. And they.
[00:18:07] They forked up over $200 million that got listed on Binance. So that tells you, okay, if this crap can launch and generate over $200 million and get on Binance Day 1.
[00:18:20] And let's say there wasn't a lockup, so I don't think there was. Then what happens if blocked out does not have a lockup? And let's say they launch something, let's say it's a garbage something, but they still launch something. Let's say they do launch with at least $300 million.
[00:18:34] Let's say they do have Binance as one of the ones they're on. I mean, again, you have to look at it in perspective. You got to look at it as other tokens are doing these things. PI Network did the thing. I've called them out multiple times, so I'm looking at it as. I'm going to ignore the noise because we already know the marketing's. We already know the marketing is trash. We already know that there's a bunch of misleading stuff. They acknowledged it on AMA9. That's what I said. They acknowledge they got it wrong at multiple points.
[00:19:00] Binance stuff said, well, yeah, they could say anything, but in this case, they're acknowledging what we all know to be the truth, which is that they got it wrong. Right?
[00:19:07] They're not lying. They got it wrong. They're telling the truth that they got it wrong. Okay, now that we see that, and now that we see that, they're somehow understanding where they screwed up. Okay, well, let's give them a Chance to see if they launch something. That's it. You kind of have to ignore the BS marketing. That's all I'm saying is you kind of have to ignore it. So I'm going to say once again, it's up to him, you know, if he wants to mute. Ban, block, delete, ignore, it's cool.
[00:19:36] I'm not going to trash simply because of crap marketing because I've seen it too much. It happens every project. All we have to do is watch to see if they launch something and don't have a funds lockup. And by I'm saying that like PI Network had a funds lockup of some kind that they were locking all the tokens. Like if they. I'm talking here.
[00:19:53] Well, they told you 40% is going to be unlocked. Okay, do they unlock 40%? And is there a blockchain launch? I'm not too much worried about the miners because every video is just an okay, it unboxes and plugs in. What are you mining? Show me a wallet address so I can see that there's. I don't mean your phone, I mean the contract, the wallet address. Show me that so I can see something's being deposited in there. We could trace back what it is. Nobody's done that. Everybody's got the garbage music like I now. It is what it is. It may give you a little bit of a rah rah, but it's not sufficient for me. At the same time, I don't really care because I'm looking at the X30, which is the one that I purchased to give it a shot. Shot. So that lets me get hands on. If I get. That said, if I get an X30 and it actually does something, I'll know and I will report it. And that's fair. I think there's too many.
[00:20:43] There's too much where, you know, if you get to vigilante ism, where you're just saying, look, I'm going to trash it simply because it's not what I think they should be doing, that's on you. But that's not what I do. That rhymes. I am one that says it doesn't matter if it's what I like or I don't because I'm not, you know, I'm not one of those. I'm sharing it with what I see and I'll praise what I think is good and I'll.
[00:21:08] I'll cram on them if it looks like terrible garbage. That's how I do it. There are tons of projects where they, they have some positives and then some where they just have Libero. Great example. Libero had a pre sale and I'll tell this story because I think it's good so you understand my perspective and maybe Binance stuff will hear this. I don't know. Libero had a pre sale. Nobody knew about the pre sale. Very few, I shouldn't say nobody. Very few knew about the Libero pre sale. They only announced it on X a couple times. It was only on their site.
[00:21:40] You had to be familiar with their site. You had to know it existed, you had to know where it was.
[00:21:45] And in order to participate in the pre sale you had to hold Thorium or one of the other ecosystem tokens. Multiverse capital is one. Thorium was one. Epic hero was one. You had to hold one of the other ones in order to buy into the presale for liberal when this is prior. So at this point I'm pretty sure it only had.
[00:22:05] I'm pretty sure it had two zeros and one. I think it was the launch price. It was something weird.
[00:22:10] So, okay, I saw it, I said, okay, why not? I bought it. Bought a little bit in there and then I did coverage. This is on my channel, you know, you can check it out. It's not, I don't. It's not on the podcast. You have to check the YouTube channel. It's not on Bitchute. So it's only on YouTube. But I did a couple of coverages. I have a whole playlist about this.
[00:22:29] Check it out.
[00:22:31] But I put a little bit in. The price keeps going up. It finally hit a penny and then it dumped back down. It never really recovered from that because we would learn that they, you know, they had reflections and that rebasing and all that kind of got away with it and it was just toast. And the devs didn't know what they were doing now. They were abandoned, the whole thing. Point is that what there they had a pre sale.
[00:22:52] Okay, there's Mark, they were marketing hypes. They, you know, the unrealistic apy, the Times Square, all this stuff that's like okay, what the heck? And then the devs are screwing up, but it's still launched. People did make money. I can attest to this. All I can do is measure whether they're able to deliver something and whether there's no funds lockup, right? That's the bar. And some people are going to make good money and some people are going to make nothing.
[00:23:17] That's the truth of all crypto I would say, especially if you hear significant marketing hype, that's the risk you take. We have to acknowledge that risk for what it is in my personal opinion.
[00:23:30] Now let's go ahead and do our 101. And I, I hate having to do it this way, but I, I keep having to because it's like every now and then I'll tiptoe in and I'll hear, you know, YouTubers say stuff and I'm like, dude, what the hell?
[00:23:45] So here's the background of this. I was watching, I stumbled across one of the videos from Bleeds. I don't watch his channel every day anymore because he keeps going on these rants and it's not as entertaining with some of the rants, like he'll rant about Trump or you know, some of the other stuff where we don't want to hear that. Just like with Cornet, I don't want to hear that crap. I want to, you know, focus on your lane. And I miss the paneling on the wall where he's just level headed. He's bottomed right to the point he's not trying to be over funny, you know, so that's gone. But this one, he did an update video and it basically says that he was trying to explain how YouTubers like him scam people.
[00:24:26] Okay, well that's an intriguing topic. Let's go and listen into. He's breaking down basically what's happening. And I, I talked about this with my Shiller video a while back.
[00:24:35] But the bottom line is that these projects, they, they approach these various YouTubers, offer them some money to entice the followers to go into the project.
[00:24:46] The YouTubers then get either tokens of the project to get money, whatever that is, and then some of them will get the tokens, they'll dump off the project, some of them will stay in it.
[00:24:56] The bottom line though is that when the YouTubers are getting you in, essentially they're scamming you because they're in early by default, right? So then if the token is not going to last, you're essentially going to get rug pulled. You're essentially going to get crapped on.
[00:25:13] And that's just how it is. That's how it's, it's a cycle.
[00:25:16] All of them do it, right? It's a continuous cycle. You've probably heard about Adam Captain, who's in Block Dag. You've heard about Austin Hilton, you've heard about, what was that guy's name?
[00:25:29] Sandstorm.
[00:25:31] Tammy Ski, crypto queen for those you know, Rodney, Crypto journeys, Jake, you. You've heard all these names and at some point they probably shield you something. There's. There's tons of other ones. I'm not going to go on the fullest, but he was explaining and I'm pretty sure he's telling the truth, and I had no concerns about it.
[00:25:52] But at one point he talked about a project that he had been shilling. I don't want to say shilling, but he had been promoting lightly called CC coin made from some girl.
[00:26:03] And I, you know, I saw it, I'm like, okay, well what's happening here? She's basically just putting out a token and then created what essentially to me was a glorified. It's a glorified Ponzi scheme to a. To a degree, because you're taking money from this and putting it over there. Right? That's what it is.
[00:26:21] Allegedly she put her own money up on this stuff and she bought in tokens. She was holding the floor and he had bought in. He was holding the floor and all that to try to help her get off the ground. But I couldn't tell because he's criticized. Tokens don't have any sort of utility. This didn't have any utility. I could see one of the tokens was doing, you know, Solana airdrops as kind of a reflection mechanic. So. Okay, but it still doesn't have a utility. Then there was this blockchain beauties business and I could always shake my head, but basically there's a bunch of these girls and you know, they're using their looks on social media to get people to buy into the project. It's the worst thing to me, to me.
[00:26:58] Well, recently he was talking about how that the CC and all these other tokens essentially rug pulled. Now he called it out. He said they rug pulled out.
[00:27:07] He's right.
[00:27:08] But then he goes into this tirade talking about how it's not a rug pull.
[00:27:13] And the story was that the girl who started the project and started all these other things, she had put her own money in and nobody was buying in. Nobody, Nobody. There was no significant buys. There was no. And. And people that did buy in sold out and didn't come back in. And so she needed the money. And so she sold her tokens to get the money back and then shut. And then fast forward and online, people are like, what the heck's going on? Some of these girls, some blockchain videos, like, what's going on? I was, my friend, I don't know what's going on?
[00:27:46] Turns out that she had shut down social media accounts and all this other stuff. Then she crept back on a little bit later and she said, yeah, I did that because I knew I was going to get beat up. I'm paraphrasing.
[00:27:58] So essentially she knew she was going to get smoke and instead of doing it the right way, she just ran like a coward.
[00:28:05] But bleezes, you know, tirade about it's not a rug pull. I felt this was a great opportunity for a 101 about rug pulls. And what I challenge you to do is compare experiences that I describe. When I give you the definition, I'm going to give it to you like you're five years old. When I give you the definition, chances are you know at least one project that fits the criteria that I'm going to give you. If that's the truth, then I can I challenge you to take my definition and compare it against other projects and you'll see that no, what Leister saying is the truth. And that is truly a rug pull. That is my 101. What is a rug pull? How do you identify a rug pull? You can't really predict it, but you know how to identify it.
[00:28:52] And it's very simple, ladies and gentlemen. A rug pull is when the developer makes money available and then makes it not available.
[00:29:00] That it's that simple. A rug pull is when a developer makes money available and then makes it not available.
[00:29:08] Making money available, what does that mean? You launched a project, you added liquidity. That's, that's making money available. If you're doing a market maker bot, if you're doing anything where you developer are putting money into it. Okay, so that's step one. The developer had to put money in it.
[00:29:26] If you launch a token, you have to start out with a liquidity pool. Otherwise you can't trade the damn thing that other has to come from the developer, from a pre sale or for something else. This is why so many projects do pre sales. Because the developer doesn't want to put their own money in there.
[00:29:42] Now when I say developer, put money in. If the developer, let's say on a pre sale, Great example.
[00:29:50] If the developer has tokens that they've allocated as part of the pre sale for the team, you'll see it in the tokenomics. Okay, 30% is reserved for the team and locked up for X. Right.
[00:30:02] That doesn't negate the probability that the developer bought tokens in the pre sale themselves. Okay. If the developer bought tokens in the pre sell Themselves, they essentially can buy at whatever price they want to do because it's their token and they haven't launched yet.
[00:30:21] Let's assume that they establish a launch price of $0.10.
[00:30:26] But because their developer, long before it ever gets to that point, they essentially sell themselves tokens at a fraction of a penny.
[00:30:34] They would have a significant amount of tokens already on deck ready to go that they bought. They did buy. So because they're buying, they're putting money in. That means the developers putting money. No matter what you do, the developer in some way is putting money in that damn thing.
[00:30:50] Either they're buying as part of the pre sale, likely at a different price than everybody else, or they're establishing the liquidity pool that's necessary for trading when it goes live one way or the other. Developers putting money in. The other half of that is the developer makes money not available.
[00:31:06] There's multiple ways that happens. Let's assume the example where they put the liquidity pool in place.
[00:31:12] If you withdraw from the liquidity pool and you unbalance it, that's a rug pull. So goes back to the balance of the liquidity pool I talked about. You have to have the primary token, whatever that is, and you have to have a secondary token, at least one. Let's say usdt.
[00:31:29] If there's a significant amount of usdt and you pull all that stuff right, People can buy but they can't sell because there's no USDT to give you.
[00:31:42] That's a rug pull.
[00:31:43] Right.
[00:31:45] Now on the flip, and this is where Bleas was trying to Chewbacca if the liquidity pool was locked. Okay, so how does that work?
[00:31:58] If that developer had tokens that they bought and they sold all of them and the. And what you're doing is you're overwhelming the liquidity pool, it's still a rug pull. Because in order for me, if I have so many tokens that it ends up draining that USDT anyway out of the pool, and I had more tokens than everybody else as the developer, it's still a rug pull.
[00:32:23] A rug pull is where the developer makes money available and then makes it not available. However they do it, whether they had tokens and they dumped off the project because they had so many of them, or they did the liquidity pool and they drained it out that way.
[00:32:37] That's why a locked liquidity pool doesn't really matter because they, if they have significant tokens that they hold, however they got them, they can still dump off the damn thing. It that's just the Nate, that's the risk of whales.
[00:32:54] That's what started the rush towards taxes.
[00:32:59] And I gave an update. This is on YouTube, about whales and whale management strategies and the idea that, you know, they'll put like 30% tax and all these other things to discourage whale sells.
[00:33:10] The downside is that also discourages whales buying because if they know the whales usually don't care for the most part, but over time they're going to start caring and at some point it's going to become a wash. It's the developer who makes the final call of what they're going to do and they have to think it through. That rhymes before they launch the thing. They can't just say, we're good here, this will work, or they're going to have a problem.
[00:33:39] My point is a rug pool is where a developer makes money available and then makes it not available. However, that happened by a sell of the tokens that they had or by yanking out the liquidity because it was unlocked. It doesn't matter.
[00:33:55] Think about it. That means any and every project that is not like the main ones, you know, even Ethereum.
[00:34:03] Idiot Villa. He was essentially rug pulling Ethereum when he was dumping and dumping and dumping and dumping at that point, because they have so many tokens, right?
[00:34:11] They say, well, we need to pay the salary, sure, but you're assuming that there's going to be significant buys back in.
[00:34:19] They just got lucky that there happened to be significant buys back in because it's Ethereum is going to happen. It has to be established.
[00:34:25] If it's an established project, you have less of a risk of it going to absolute crap.
[00:34:31] It doesn't completely go away. If you look at something like Phantom, which is dead, it's now sonic.
[00:34:36] That's a great example of something where it launched and it was fine, but it still could not succeed and still could not thrive.
[00:34:44] Floki. Floki's three times the rug pull. It was able to succeed, it was able to thrive.
[00:34:49] These are the outlier exceptions, though. You don't. You can't count on that for every project. The vast majority of them are susceptible to rug pull risk. So, folks, it is very simple. A rug pull is when a developer makes money available and then makes it not available. Okay, Elon. Muskrat. Rug pull. Effectively.
[00:35:11] Cc. Definitely a rug pull. Ben Coin. Definitely a rug pull. Terrarium, essentially a rug pull. I'm going to say essentially because I know the doctor said they were going to pull it out, but I didn't see them do it. So I'm going to say essentially, obviously, Saitama. I mean it goes down the, down the list. Okay, so hawk to a.
[00:35:33] So you've got.
[00:35:35] Your messaging is simple. You look and see what is the dev doing.
[00:35:41] That gives you confidence that they're not going to pull off the platform. Project understanding. Chances are they're going to do it anyway. And that's okay. It's okay that they do.
[00:35:53] What's not okay is telling people that because this person was having financial difficulty. Pablo Crow. Right. Because they were having financial difficulties or they couldn't make the project work or they were frustrated that it's okay for them to just pull it and then apologize later.
[00:36:11] The problem is you need to announce up front, folks, here's the deal. This isn't gonna work.
[00:36:17] I'm going to sell. I'm gonna give you advance notice to get your stuff out. I don't need the money that bad. I don't want to hurt you guys because the, the girl on CC even said I'm gonna drop some salon to people to try to make you whole. So I again, it's not malicious. But not every rug pulls malicious. It's still a rug pull.
[00:36:36] The key is. And everybody came at her because she did not announce it in advance. She just did that and then disappeared and deleted social media, ran from the problem instead of facing it, confronting it. Pablo Crow ducked and ran for the problem. You lose credibility when you do that. This is why I said the car salesman on Seifu, he's rugged projects multiple times.
[00:36:57] He's now lost that steam. But look how many times it took for him to rug projects before people got a clue.
[00:37:03] It's endemic in crypto though, that risk is everywhere. It's, it's. Every non mainstream project has that same risk. It's also why though I said if a project gets approved for an etf, it's not going anywhere because there's, it means there's enough confidence in those that it's worth allowing more to invest in it on a safer platform. That said, you're not going to become a millionaire off of any of Those ones approved ETFs in the short term.
[00:37:35] So you have a choice. You can think, keep on gambling, looking for those memes, roll the dice on the memes and see if you crack it.
[00:37:44] Or you can realize that all we've done is move cryptocurrency into two categories. The ones that are mainstream, accepted, that are safer, or the ones that are still a wild wild west that are gambles. And you choose and it's up to you what to do.
[00:38:01] The ones that are the wild, wild west are effectively at risk of a rug pull every one of them to a T.
[00:38:10] And you have to recognize it doesn't matter how, the best of intentions or any of that stuff, you realize it's gonna happen. It could happen. And you insulate yourself. If you're gonna do it, please don't yolo into the darn things, you know. So hopefully that helpful, that's helpful to understand, okay. How simple it is. It's that. So I don't care what anybody else says because you can look at any other project that you've been involved in and look at what happened, and I guarantee it's going to follow what I said. Developer made money available that made it not available if something was like, quote, breach, like elephant money. Right?
[00:38:45] The rumors were that he took the money. Nobody proved it. Ben Coin. The rumors were that he took the money. Nobody proved it in all those breaches. The rumor was that somebody in the team took the money. Green chart, same thing. They gave the keys to that duck face girl.
[00:39:01] Developer makes money available and then makes it unavailable. However that happens, that's a rug pull. Hopefully it's clear and easy and understood. You got a question or concern?
[00:39:12] CryptoTalk FM? Hit the contact form, hit us on the comments and below this. Wherever it goes, it goes everywhere. But I think you'll find if you compare anywhere, you'll see no, he's right. That's essentially what's happening every single time. And it's that simple.
[00:39:26] And when people try to deflect in Chewbacca when they're defending rug pullers, it should hopefully cause you to second guess those people because you can tell that they're just protecting their own. That's how the industry works. That's how the business works. They protect their own. They're not in it to help you. They might tell you they are, but they're not. They're protecting their own because they're not calling it out for what it is. Rug pulls, taking money from you after they told you to get into those projects in the first place.
[00:40:10] Sam.
