[00:00:01] Speaker A: 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] Speaker B: Thank you for that, Bailey. And welcome, everybody out there in Crypto Talk radio,
[email protected] I'm conflicted, folks. I don't know.
I have to be careful.
I want to tell. I want to cover Token that had a weird thing happen, but I have to be careful because if I talk about it too soon, you're just going to FOMO into it, which I do not want. I do not want people fomoing into a project simply because I'm talking about it.
At the same time, I think it's important to talk about said project because said project had some very interesting things happen, and it's an opportunity. But again, I don't want you to FOMO into it, get smashed or wrecked, and then come back at me because I'm not going to have it.
So I'm conflicted. I have not decided exactly what I'm going to do. I'm just going to tell you right here, right now.
I did a thing and I don't regret doing a thing, and I'm curious where it's going to go.
I don't have high hopes, but at the same time, I can't ignore what it is that I see.
So I'll talk about it briefly because I think it's died down. I hope it has to, where it's a little bit safer and there's not going to be too much people fumbling into it, because I really do not want you to get smashed. That's my goal, purpose and intent is to keep you safe, even if that means that you're not going to make a major amount of money. Because by the time you hear me talk about it, it's already long done, it's already kind of calmed down, and that's. That's intentional. So cryptocurrency. I don't follow it at all. As I said, you know, there's these random spikes of things. That's one of the things I was going to talk about, but other than that, I don't follow it. I don't stare at it. Just whatever off to the side. So we'll chat through. This won't take too long. Today's episode, I had a brief bit. I'm gonna get back to this game.
But there are a couple things that I did want to bring to attention, and I'll tackle it out with a 101 related to this project that I was going to talk about and I'm hesitant to do coindesk.com we're going to zoom out to the month chart starting with Bitcoin this time as Bitcoin was able to finally breach its upper limit.
Currently hovering around the $106,000 mark over the past 24 hours. A low of 104,000, high of 107,000 trending in a sideways direction. Then looking over at Ethereum, which of course to me is the benchmark for true success.
Also trending in a sideways motion over the past 24 hours, a low of just shy of 2500, a high of just shy of 2600. Currently hovering at the 2500 mark. So Ethereum remains solid stable during this time. Bitcoin unfortunately is having a hard time getting past the $106,000 mark. Many people are speculating that we're not fully out of the woods yet and we're trending or heading back down here soon.
That the so called bull run is indeed over, I can't say for sure. I will tell you that Ethereum to me is the watermark. If you cannot get Ethereum up to its all time high at minimum, we're not truly in the bull and we still have some ways to go. Now it is fair to say a lot of these altcoins started to pop up and get a little bit more success after some of this failure. So time will tell whether we get more of a run than we expected. But I don't. I'm not concerned I guess. And people always ask is it too late? It's never too late. You just have to be more patient. The patience is going to take longer if you did not buy a little bit earlier. That ties to the garbage project I'll be talking about a little bit later on.
In the meanwhile, talking about garbage projects, the SEC charges Unicoin over alleged $110 million crypto fraud, alleging that they misled over 5,000 investors fake claims about asset backing and registration.
They allege the marketing campaign used widespread advertising to promote this as a secure investment. Does that sound familiar? It should cuz almost every project does this.
The SEC on Tuesday charged New York based Unicoin and three of its top executives with allegedly misleading investors and raising more than $100 million through false claims about crypto asset offerings and company stock Unicorn CEO Alex I think it's Koniakin I believe Sylvania Moshini, who's the board member and Chief Investment officer whatever the hell? That is Alex Dominguez promoting so called quote rights certificates tied to Unicoin tokens through allegedly false or misleading statements. The general counsel, Richard Devlin for misleading statements in private placement memoranda.
And apparently the general counsel is getting off with a slap on the wrist with you. That's a joke. But it is what it is. Quote, we allege that Unicorn and its executives exploited thousands of investors with fictitious promises that its tokens when issued will be backed by real world assets, including an international portfolio of valuable real estate holdings.
Mark K, the associate director SEC is talking about. Does this sound familiar? It should, because it's very similar to what Cider Realty was doing. Fancy that. It also goes to something I talked about about a while ago.
You know that and I was only speculating. I said, you know, there's a senator that listens to the show and so perhaps, you know, some of my information is getting back and what's I'm throwing out there. I don't have any inside information. It's just obvious when you think about how crypto's going. But I talked about the idea that a company could try to associate a launched token to real assets, whether that's stocks or some other actual value product.
This is what they're talking about. That Unicoin allegedly was doing was associating this token to, and attributing it to real world assets and making false claims about the value of this stuff and certificate sales. There's all sorts of legalities that they're alleging was breached. I can't say that they truly were breached, but it is something that to keep an eye on. Now the CEO says gonna fight it.
So they haven't bowed down like the CITA folks where they took a plea and admitted they were scamming people. So I don't think that that's gonna, I don't think it's gonna be negative. I think it's gonna be positive in the long term. I think there's a big, big time, very big time effort to try to, you know, stop the SEC from doing, let's say, frivolous types of chasing. But this one seems like it's a little bit more legit than the others.
Speaking of frivolous or thinking of pointless or speaking of stupid. Remember I talked about the Argentinian president talking about the Libra Token. Libra tha token. So there's apparently, I don't know the scoop on this. Apparently there was a task force that was created to investigate what was going on that token after it did a Rug pull, allegedly the government, because he's still in control. So the government allegedly has killed that investigatory body off. Now, I'm not sure how that works, but they are a different country, so perhaps they have different laws than we do here in the United States. But yes, whatever that was I was supposed to investigate that rug pull was completely shut down. So there will not be any sort of, let's say, recompense or remuneration coming your way of your one that got ripped off by that business.
Apparently it's going to be swept under the rug. I don't know.
I don't know any details about why or how or any of that stuff. I'm just sharing what was talked about and what was stated in this business.
So if you, if you're one where you felt ripped off by what happened, c' est la vie.
Chocolate up is a loss. Mark it down. Next time, don't gamble. You know, whatever it is that makes you feel better about it, I understand it's not going to make everybody feel better, but it is what it is.
Now let's talk about the 101 and to support the 101 only to support the 101, I'm going to be talking about a garbage token because it goes to the educational points, it goes to the messaging. We shared this on CoinMarketCaps community with the token folks that were, you know, shilling this garbage because we were trying to help people keep us. It's like Hotchko. It's the same thing. It did the same thing as Hotchko, Literally the same exact thing as Hotchko.
Other than the fact it's not a recent launch, it's been out for two years. Ish. So that's the only difference. Beyond that, the behavior of it, the behavior of the graph was Hotchko101.
So here's the basic cryptonomics of this whole situation.
I want you to understand how if you go to CoinMarketCap, when you look at the markets and you scroll down, you look at the markets and it'll list different places that you can purchase the token. And if it's a Binance token, you'll see Pancake swap. If it's an Ethereum token, you'll see Uniswap, you might see Binance, you might see Coinbase. Right? All these different places to buy this product. And there are liquidity pools. These liquidity pools are the market. So they are basically token pairs that are being exposed to enable trading of these projects.
Often you'll run into ones where it's grayed out, you'll see that, like, say, pancakeswap, there'll be a bunch of entries and they're grayed out. And if you look next to the name of the pair, you'll see a little triangle. If you hover over that, and I am assuming a computer, so I cannot describe the experience on a phone, but there's a little triangle. And if you hover over it with your mouse, it'll tell you something to the effect that it's not been verified.
This is the 101 I wanted you to do.
When there's this concept of a call tag or a ticker, I call it a call tag. Ticker is a little bit misleading.
The call tag is the abbreviation for the token that you're trading.
So shib, right? That's. The call tag is shib. The token is Shiba Inu.
Bone.
The token name is bone Shibaswap, but its call tag is bone.
This token, it has a call tag called czgoat.
The name of it, CZ the Goat.
I'm not going to go in depth about CZ the Goat. I'm simply using it to describe this phenom that caused people to lose some money. Very most recently, when you look at the markets for CZ the Goat, it only existed, Reality only existed. On pancake swap for bnb, there's no pair for usdt, there's no pair for hardly anything else. Just wrapped bnb.
Specifically wrapped bnb.
Wrapped BNB implies that it originated on a different chain or that it's destined for another chain. Not always, but that usually is what that means. But there are other markets where it says that it's paired to wrapped bnb. Perry.
And for Perry, Perry is actually a scam token.
When you look at the volume, then for Perry, you're saying $17 billion, just shy of $18 billion. As I record this.
The net result of this is that czgoat very most recently went on a major pump run to the tune of like 2000%. I think it was like 3000% ish just over the past day.
And the vast majority of this pump is artificial. It's coming from these fake pairs on a scam token.
But the money was real. You could make money on timing. You can make a lot of money. And there's. There's actually liquidity in the whole nine. Liquidity is burned.
So I'm not suggesting you can't. Because, you know, just because you make money doesn't make it not a scam. Just because it's a scam doesn't mean you can't make money. So I'm not suggesting you couldn't make money, but I'm telling you that if you don't see any markets other than maybe one, that token is not going to go anywhere.
Now, Pepe is one of those that launched out of thin blue air, did a similar run up, got picked up by exchanges and then completed its run, especially with Binance.
So any project where you see it like this, that's an early phase, might have that same trajectory where it eventually just goes on a major run.
This token, as I said, is 2 years old. It originated 2023, so I knew it wasn't new. And if you look at the graph, it's a pump and up graph. So this kind of an artificial pump has happened before and then it sat for a year and a half before this most recent run that nobody can really explain outside of the fact that the liquidity pairs are basically nonsense.
If you're looking at projects, whether they're new or they're recently going on a run or whatever the situation, you want to pay very close attention to the markets where said token is available and see if it's legit in terms of the availability of trade assets. If it's only on like a pancake swap uniswap, and it's not early, meaning it's been around for a while, it might have got kicked off, might have been there and got kicked off, which makes it a risk.
If it's on all exchanges, or a vast majority of them, it means the price isn't going to move very far. We see this with Pepe now, we see this with Floki now.
So your measure of risk is directly correlated to what you see in terms of the market availability. If there's significant markets available, you're not going to get significant amounts of money. If there's significantly less markets, it's a higher risk. But you have an opportunity to make a lot of money and it's up to you to choose your risk tolerance.
Nobody can make that decision for you, but it's important that you think it through before just yoloing into any one project because you will set yourself up for instant failure.
Now to close out because I said it would be a short episode in all fair disclosure and disclaimer.
I made a couple hundred dollars on czgoat and I don't even remember how I found it. I think there was a small airdrop to the wallet, which happens on a couple of projects and then I instantly saw that it was running, which told me that they wanted people to buy in because they're triggering fomo.
I bought in, it was at the bottom, it wasn't going significant hot and made hundreds of bucks because it was just jumping like crazy almost to a penny this time I think it's peak at $0.06. So it almost got to a penny. So it was a lot and I didn't put a lot in. These were spare tokens that I had sitting around. It's like $100 worth of spare garbage that I had from Thorium Bank.
So the risk is marginal. Nothing. I would never, and I would never tell you to toss a bunch of money that I knew was, you know, if I need to buy something or if I let's say I lost my, my client or something or I got disabled or something. I wouldn't want to put myself in a risky situation.
So I would never risk more money than I could afford to lose is the point. In this case, it was throwaway cash. I made the throwaway back, reinvested in with a little bit more. And I'm just kind of sitting and watching it because it doesn't really matter. I haven't had significant downs as basically along is what I'm doing. On the spot side, the risk is marginal.
If you decide to look at it's up to you.
I'm going to tell you it's a high risk project because it doesn't have significant markets availability.
The liquidity pools that are there, most of them are nonsense.
And although the contract scan clean on GO plus it did not scan clean on I think it's called quick audit or something.
One of them, it did not scan clean had some sort of suspicious function that site wants you to pay to access what they found. And I'm like screw you bro. And then of course market move screwed the pooch. So I can't use that favorite tool because it is a binance token. So I already knew being a binance token it was going to be high risk. But I also knew based on the clean GO plus scan, at least there's an opportunity to make some money off of it. And now that the runs are kind of settled down and we're a little bit calmer, it was okay to talk it through and use it as Today's basic Cryptonomics 101 opportunity to share that knowledge with you guys in closing and in summary, right now there's a theory that cryptocurrency is going to go back down here soon and if bitcoin goes down but Ethereum does not, it might indicate a run on Ethereum, all things Ethereum as well as layer twos, including altcoins. So we would hit kind of this altcoin season, which isn't a bad thing necessarily.
I don't think it repeats 2021, but it does create more opportunities for profit. And then what I would recommend if you do that, is to take profit information, put it over into bitcoin and stack as much bitcoin as you can, especially if it dips, because bitcoin's the one that's going to have the heaviest run. The, remember the institutionals, the big players are not buying these garbage tokens. They're buying, I mean there's some, but not the vast majority. They're buying bitcoin, they're buying Ethereum. That's what it is.
So bitcoin is going to be your place where you want to make sure you get a bag in.
It doesn't have to be a major bag. It's not going to make you a millionaire. We're past that era. To do that, you'd have to put a significant amount of money or we need another FTX situation, which isn't going to happen.
And if they're, you know, if they got to the point, let's say bitcoin goes to like $300,000, which is a 3x from where it is. It's still 3x more than what you had.
You also can still 3x as it continues to go up, because it's going to continue to go up. The numbers don't lie. They paint a picture of assets that are going to hit a strong peak probably in 2026. My guess, starting. And you can never be too late to get into minimum bitcoin, but you can leverage some of the altcoin run if it does happen and Ethereum's run if it does happen. You can leverage profits from that to stack bags on bitcoin once you train yourself. But if you're still sitting out there trying to pull a ship and waiting to be a millionaire, I mean it's up to you what you do with your money. I can't tell what to do with cash, but I think it's a stupid idea. Versus just take profits as you find them and use the profits to buy into bitcoin because again, bitcoin is the one that's not going to go anywhere. We still don't know what will happen.
Let's say Satoshi just shows up out of thin areas A lot of them.
People speculate it's probably not going to happen, but that's a risk.
But it's a. It's a manageable risk because it's still going to run up no matter what.
I think if we get to higher inflation again or the job market tanks again, if we're not able to resolve a lot of these economic issues for the debt, I do think that money is going to flow out of cryptocurrency and back into safer assets, rightfully so. Bonds and, you know, if that happens, there's nothing wrong with you doing the same because you can still diversify. Don't put everything there in one bucket. That's crazy. You can still diversify and put a little bit over in stocks, bonds, or whatever else I bought, I actually bought some gold. I bought some physical gold. So I have. They're called gold notes from JM Bullion.
And I plan to buy just a little bit more. A little bit more. A little bit more. And they'll just toss it away. And that's really just for my family after I'm gone. It'll be something that has persistent value after I'm gone. I probably would never sell it. I mean, if I got into an emergency situation, maybe. But I treat the gold as a store of value, more so than Bitcoin, in fact. So gold is another asset class that you can. Or palladium. Right. That you can. Platinum, you can buy into and have it as a store of value in addition to all the other things you're investing in.
Ultimately, I would recommend right now, especially now, to diversify. Do not go singular. But again, can't tell a douche. Cash.
I just think it's going to be bumpy road for a while. And so some people may be holding out hope for another 20, 21. That's not going to happen. And I wouldn't want to see people get frustrated on something that's just not destined to happen. In the short Sam.
