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Episode Transcript
[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] hello, and a very happy new year out there. Cryptotalkradio [email protected] once again, my name is Leister. I'm your host. And welcome, or welcome back, depending on your situation. Hopefully you had a great holiday. Hopefully you had a great time off of work. I'm hoping, and it's a new year. Not only is it a new year, it's one of those years that cryptocurrency have been anticipating for a while. Of course, there's a number of events that are scheduled to happen in the early part of 2024 and then other things to come. As of yet, we're going to talk about a couple of these things. I think it's worth bearing out as a personal update, just a couple of points.
If I sound amazing, I got a new microphone. I'm surprised at the quality of the microphone. It's actually sometimes too good because it picks up small little noises you'll hear every now and then, little noises, and I can't do anything about those. But in terms of voice quality, I was very impressed with what it came out with. I do have to adjust my templates with the gain levels and that kind of stuff and had to make adjustments with my hardware. I have amazing hardware, by the way, for the audio side. And you might have noticed some of these youtubers, they'll have either too much bass or they don't sound crystal clear, or there's weird. And trust me, I was struggling with that myself. And then put it all together, got the right hardware at the right place at the right time, and then this microphone kind of wrapped it all together. This hardware is not cheap. I just want to put that in perspective. But because I make money outside of the podcasting that I do, I was able to afford everything I got set up. And then I have a new studio, hardware studio set up. And this is separate. This is new. But my camera that I had from before is all mounted ready to go. It has a dedicated piece that's mounted on the desk. It's all ready to go. The only thing that's still remaining is the alternate camera view. Might be wondering why there's an alternate camera view. It's because quality matters. If I'm going to get back on video, and again, it won't be a frequent occurrence, but if and when I do, I wanted to have the best quality experience. I've already tested primary camera, it looks really good, signage looks really good, studio looks amazing.
And you're going to see how I step up because I think mine, it just looks so damn amazing, I have to say. So all that's coming second, the sites are changing, my domain is changing. I'm working on the nuts and bolts of this one. I think I've kind of settled on what I'm going to do with the hosting, whether I'm going to keep my current provider or build something new for a new look and feel kind of freshen it up. I haven't fully committed, but I think at some point I do want to kind of freshen up cryptotalkradio.net and then add the new domain. The new domain is already purchased. Problem is, it's stuck right now on a crap domain registrar and I'm not going to be able to move it till probably about the end of the month. So once I get it out of there into my primary host, then I'll be ready to kind of shift stuff around and I'll let you know when the domain changes.
Cryptotalkradio net will still be owned, it'll still route there, everything will still be good. It's just the new domain is awesome. I think it's amazing and I'm really excited for that. The last bit of personal news that I'll share, I'm very close to mentally committing to doing a giveaway and this would be a huge giveaway if I commit. I haven't fully decided. I still have to do some research on giveaway laws, lottery stuff. I mean, it's not random. There's skill involved, which kind of makes it a little bit more legal. If there's skill that's involved in it, and this would have skill involved, it kind of offsets some of the legality. So I'm really debating doing it. If I do it, I'll divulge how it would work.
The way that I can make this make sense, all one would have to do. So, the giveaway. I'm not going to tell you what the prize is, but suffice to say it is quite an expensive prize.
The giveaway would require somebody sign up for one year of our triad radiance. You sign up for one year of the triad radiance. That's the entry. So that's the main entry point to getting access to being eligible to vie for this prize. So that's step one. Step two is you have to fill out a form which is basically your entry form into what it is, which asks for a phone number, not for text messages. You will not receive any text messages. It's for voice calls. We're going back. We're going old school here. The third step is we're going to ask those people.
You have to identify the two topics that we cover on our radio show, which is cool tunes, radio playing shows, casual as well as crypto play on the radio show. And so what we're going to ask is what are the current topics for casual and crypto? What you wouldn't know is the schedule. You're not going to know when they actually play. So the person who is right on top of it, they'll basically say, yes, we believe we have it. You'll submit the form, say, we believe we have the answer. I'll call you live on the air on the next show, and I will call it out and I'll ask the questions live. And if you get it right, the prize will be yours. And again, this is a huge prize. We're not talking cheap here. And you would have to be in the United States in order for me to allow you to do this prize. I would say the continental United States. I probably would not be able to do like Hawaii, say, or I may have to consider some sort of alternate prize. The point is, this sounded really cool and it's huge.
I haven't fully settled on all the nuts and bolts of research. Once I do, I'll let you know what that looks like. Let's get into cryptocurrency. Let's talk some numbers. And I got a history lesson as well. And then I want to do some economic things and I'll wrap it up with a wallet. Quick wallet overview first up, let's talk some numbers. Coindesk.com and I zoom out to the month chart. And I'm going to start with ethereum, although it looks worse of the two. I'm starting with ethereum because I favor Ethereum in the long haul versus what I see of bitcoin when I zoomed out to the month chart, ethereum looks like it's poised to go on a run. The run. I can't tell you specifically how high it might go this next time. I'm figuring somewhere around 2500 mark, a low of 23 50 ish, a recent high of 2400. So I'm guesstimating truly about 2500 mark, but certainly trending upward in a strong positive direction. Although we did have some major dips, very most recently, they didn't last very long. It's bitcoin. That's the standout, though. That's the one that's the star of the show. If you looked at bitcoin over the month, it went on a huge, major run. A low of 44, seven ish, a high of roughly $46,000, which is an amazing jump from where we were. And I want to remind people, there was a video that I did a long time ago on the live, actually, and I showed up on the screen, the screenshots on my X account on crypto talk or CTR crypto radio, where I showed $16,000 bitcoin. Here we are, just shy of $46,000. As I record this, and I want to emphasize that's an amazing run, even though it felt painful getting there. Bitcoin when is low is like $12,000.
And I said if bitcoin was going to go any lower or ethereum was going to go any lower, I did live karaoke because I was confident it wasn't going to go too much lower and that we hit a true bottom. And I want to emphasize, if you've looked at the broad span over time of price movement for bitcoin in particular, you'll notice it largely is an upward trend. I did an analysis about going back in time and seeing that 2021 spikes, these unrealistic jumps, were an aberration. If you take those out from a logarithmic perspective, if you take those out of the graph, visual graph, you'll see that was an aberration. It was an outlier. It was a statistical anomaly. And if we take that out and you look at the graph, we're following the exact same pattern. Roughly speaking, in terms of climb, certainly we have some down, but we always come back up. If you accept what I'm saying is the truth, what does it mean? It means it's all cyclical. It means there's always an opportunity to get back in at certain dip points. It means that if you're new and you're joining us very most recently, by the way, welcome. You're coming in at arguably, quote, the wrong time. It may seem like the right time. If people told you right now's the time, or you listen to YouTube, let's fucking go. That may seem like it. It's a psychological trick. They're lying to you. That doesn't mean that there's not profit to be had. I'm saying that the best time, and this is hopefully the educational point in my call to action to you. The best time to get in this stuff is actually when it's down, treating it like a discount as opposed to reacting negatively simply because it's going down and thinking there's a problem. There may be a problem, but such things pass. And it's cyclical, especially when we have the having events that happen every so when we have these other catalysts that get in the way, when we know that the big players are going to buy back in as they are currently doing, they are buying, be assured. But the best time, if you're new, is to get in when the prices are low and treat it as a discount. And train yourself to look for discounts when you can do it. And it's not easy. I don't suggest that it is. But when you can do that, when you could train yourself to look for those discounts, you'll find everything gets easier. You stop worrying about the price of cryptocurrency all the time. You just simply look for the lowest possible price that you can get. And what's the lowest possible price that you can expect. And it's also hard to anticipate how low something can go. You might think 30,000 is the lowest bitcoin can go. However, we just saw that's not true. It went as low as 12,000. To be fair, some of that was FTX suppressing the price of it. We may or may not have those kinds of negative catalysts in the future. My messaging is simply learning how to anticipate discount opportunities and buying at those times. That's the golden spot. It's not when it's green. That's the psychological trick. That's what the grass wants you to do. They want you to fomo off the grain. You have to learn to convince yourself this is not the right time to buy yet. I want a discount doesn't mean that you actually listen to what Leister [email protected]. It's something I want you to think about. Start looking for discounts and whatever discount makes sense for you. To me, that's the golden spot. That's the key to get in. Now I say this, and I'm referring to the core coins. I'm not referring to the garbage out there like a bonk. I'm referring to the cores that cannot steer you wrong. The ones that aren't going to go anywhere, the ones that are needed to sustain something, the ones that have utility, the ones that do something those are the ones I'm referring to, not the garbage. The garbage will be pump and dumb almost every time. You can still make money. Just because it's a scam don't mean you can't make money. Just because you make money don't mean it's not scam. I'm just saying in the cores it's cyclical. It's ups and downs and ups and downs. If you look for that discount, you have an opportunity to make some really good money. If that's what you so choose to do.
I am going to talk about. It's related to some degree because I had a thought with this. It comes from the economic side. So this is not specifically crypto, but I tied the dots when I was thinking this through.
The article was talking about ads, right? We're inundated with ads. There's ads all over YouTube. And I have boycotted YouTube because they're starting to block ad blockers, which I don't use. I use tracker blockers. Unfortunately, ads and trackers have become synonymous. Didn't used to be that way. They are now. And so I block trackers. But because of the way YouTube wants to bias. And what I found is it's based on what's your activity, how frequent of a user you are. And the more frequent you are, the more likely you're going to get blocked. I said screw you. We're not doing that. So I don't go there. Hardly at all, except to check Blaze's video when I can. But I have to log into a different account.
So there's ads everywhere. Facebook is notorious for it. Twitter is notorious. Now, I don't see the vast majority of them, but I know they're out there. That's why they're rushing to streaming, because they know it's streaming. They can inundate you with a bunch of ads that you really can't skip. And the DVR, they're in on it. They're complicit. In the olden days of cable, you could have fancy ways to get around the ads. And it was actually good at the time. Well, we're past those error, because people are rushing to streaming, which requires Internet of pretty darn good speeds. Because if you have gamers in your house, you're not going to be able to do the high level gaming online. Plus these streaming craps, so it's a wash.
But the ad world and them trying to make the revenue. See, I didn't mind ads when ads were entertaining. You talk about the Geico caveman right. When ads were actually entertaining, I didn't mind those. When ads actually focused on the product specifically, it was some housewife, and she's talking about this great new mop, and that's it. Or the clapper.
I didn't mind when they were simple ads, they were not trying to be abrasive. And there damn sure wasn't a minute or two worth of them. They were quick and dirty, in and out, like you have now on, like the zone, on the streaming. It'll have quick and dirty ones. Okay, sure. I'm not a fan of these ones where they just kind of blast you and it's minutes and minutes and minutes. And that's why I don't watch a lot of tv. Hardly at all, if at all. I haven't watched tv for months at this point. I watched some anime on Prime Video simply because I couldn't find the freaking Blu ray, which is a scam. So I had it. I had a gift card as a Christmas present. Sure. It's not money out of my pocket. I don't like it. I'm still going to buy the Blu ray because what I don't want, and the reason I don't support streaming online media is the risk that they'll just censor it later on because certain groups get triggered over some of the content. I digress. It got me thinking, though, about ads, and it turns out that some of these ad companies, and there's a lot of them, but some of these ad companies, what's happening is the streaming providers and the cable providers, et cetera, they're offering these tiers that are, quote, ad free, or you'll hear things like adfreeshows.com, which does a lot of podcast stuff. There's all these gimmicks to get more money out of people in exchange for not having ads to offset the loss of revenue. The ad companies still want to get that business. They still want to get in front of those customers, even though the customers are paying not to have the ads because the advertisers still want to sell their product. If the advertisers are not there, they're not able to sell the product because some of that money is not going back to the advertisers. The advertisers still have to make a profit. So they're kind of afeared that they're going to lose significant volume, rightfully so.
This got me thinking.
If I boil down the core components of what the advertising industry is trying to solve, what are they trying to do? They're trying to pitch a product, they're trying to put the product in front of the customer, but most importantly, they're trying to collect data around the effectiveness of their advertisements. That's really where the money is. It's is what I'm doing effective? It's not just put up ad up. It has to be effective. And I have to go where I'm most likely to sell my product. This statistics, all of this is difficult to collect, it's difficult to manage. Most importantly, when you need to look at it over time, there's countless changes over time, because the nature of the media for delivery of these things changes. Tastes of the customers change. Social media's bias infects. I'll even say it infects the effectiveness of this advertisement. There's all these different factors to get in the way. So as streaming starts to try to blockade out the advertisers by way of these paid tiers, and the advertisers still want to try to get in front of people, I thought about it. What if the advertisers took a variation of what worldcoin failed to do in their attempt to appeal to people with something that makes it worth their while to listen to ads? See, there are services out there right now, and they're lesser used than they used to be, but they're still out there where in exchange for watching different ads. In the old days, this was physical. You would walk in the mall, there's some cute girl with a clipboard, and she's calling you over like she wants to get your number, and really she wants to drag you into some side room to do some sort of a study, asking questions and watching advertisements and collecting feedback. It was all a scam, but that's what it would do. The modern version of this was sign up on this. You watch these ads, or watch this site that has ads on it, and in exchange, you collect credits. And there are some that do cryptocurrency. Well, what if the advertisers said, no, don't do the tier that blocks our ads? And if you watch our ad to its completion, we will offer you a little bit of cryptocurrency. Each and every time that you complete an ad. We'll watch it at the end for a split second, maybe one, 2 seconds near the end, we'll flash you up a code that you can scan and claim some cryptocurrency in exchange for watching our ads. When you think about the ad companies, they have to pay in order to get their ads listed on these streaming platforms, but they're not compensated if the platform is blocking out the ads because the customer paid for a higher tier. But if the customer opts in to receiving ads or viewing ads, let's say it's ad hoc, let's say it's one off. You can go to this service and do the one off type things, but I think it's better if these companies can partner with something like a Netflix or whatever, wherever people are watching their stuff. I don't know where they watch their stuff, but they can partner and then offer just a little bit of cryptocurrency for each ad that you watch and make it worth the while. Now, does that connect to higher sales? Maybe. I don't know. It has yet to be proven. But if you can connect somehow, blockchain and cryptocurrency into what the ad companies were trying to do and kind of evolve to model, maybe you don't have to get away from ads at all. Maybe it's a simple matter of just making it worth the person's while to sit and watch the garbage. I don't know, just something that I thought of that intrigued me. And I think there's something to be said about tying cryptocurrency. And obviously, just like with games, I've said games should be smarter about the DLC that's out there. If you took DLC and you connected it to the NFT world, it's huge. You could absolutely transform the business, but they're not smart enough. You're dealing with old people. You're not dealing with old gamers, with the advertisers. You're dealing with old people that are dealing with traditional models that don't get.
I figured, you know, this might be something where I might be intrigued doing it. And I have a different advertising outlet. This is only on the casual side, though, casual talk. But I thought about for crypto talk, doing something like that, I'll put up an ad, and in exchange for the ad, I'll give a little bit of cryptocurrency as thanks to do it and set that up as a model and just kind of play with it as a pilot for a little bit and see if it's viable. I don't even know if it's viable. It's just something I thought of that I thought was a little bit intriguing.
I had a little bit of interest, fact history data that I wanted to share and get people's thoughts. Cryptotalkradio net, if you have any feedback or thoughts about this, but I thought it was at least interesting to share, and this has to do with price over time for cryptocurrency, we are currently sitting at a total market cap of $1.74 trillion, which is amazing. Just not long ago, we were underneath the 1 trillion mark, and now we've recovered that, and money is flowing into cryptocurrency, albeit slow. Money is flowing into cryptocurrency, which is amazing. I love it. Great. Fantastic.
Over time, though, you may not realize, but there was a time way back yonder when there was only about $11 billion in cryptocurrency, and this is roughly around the 2014 mark. We then went down. There was actually a bunch of money that left cryptocurrency down to like $3 billion. A lot left cryptocurrency during 2015 in a very cold period. This is around the time people started swearing that bitcoin was a scam, and it's like Beanie babies and it's not going to go anywhere and whatnot. Money starts flowing back in. Every time more money flows into cryptocurrency, there are these huge events that disrupt or enhance the price and the total market cap. So in 2016, the original dow that was around Ethereum got hacked. This is what caused the actual split of ethereum, because Ethereum was actually split. It was split off, or bitcoin, rather, actually both, if you be honest. Both. So they split off because of the hack. Later after this, we have a having. So this is around the bitcoin now side. The having occurs, we start seeing more money kind of flowing into cryptocurrency. So now bitcoin forks off to bitcoin cash, and then we have an immediate spike after this happens from, I think it was under 100 billion all the way up to $700 billion. $700 billion is just shy of half of where we're at. That was end of 2017.
Money flows back out. People call it a scam again, like they always do. Money starts coming back in ever so slowly. Then we have another having event. This time, we don't have a significant run as a result of the having, because we didn't have the level of confidence in cryptocurrency until PayPal stepped up and started talking about cryptocurrency. This is 2020. After PayPal talks about cryptocurrency, Tesla does his announcement saying that they're going to invest in bitcoin, buy some bitcoin. As you know, anything Elon Musk does or anything Tesla does causes a rut up. Major money starts flowing in off these two catalysts, let's say, all the way up to a 2 trillion market cap. And I said 2 trillion is where I would expect a true bull run. That's where that comes from, is because historically, the 2 trillion mark has indicated to me we were certainly on the way to doing something. Ethereum, this may shock you, but when Ethereum went to the proof of stake from proof of work, it actually harmed things a little bit. And the reason it harmed things is because of the theory that ethereum became more centralized when it went to proof of stake as opposed to proof of work. And it may have turned it into a security, as we heard from Gary Gensler, which harmed cryptocurrency ever so slightly after this. So now in 2021, we're talking the run ups and major price pumps that was fresh off of everything that happened prior to ethereum going to proof of stake. Once ethereum went to proof of stake, we started seeing the decline of cryptocurrency ever so slowly. Money started flowing out of it. And then the whole doe rug pool, aka Doe Kwan and Terra and Ust issue happens. That's a whole fiasco. Tons of these exchanges shut down. The Celsius's issues, the Voyagers issues, all this turmoil that happens, which takes us back down. You won't believe it, but takes us back down to an 800 billion market cap. And I'll remind you, the last time we had roughly about an 800 billion market cap, or anywhere close to it, was 2018. So in 2018, we're basically right back where we were from 2018. That's a long time, if you think about it. But we did have the run up, simply that the run up was an aberration. As I showed on my graph view, where I said, if you take 2021 out of there, the graph is a normal climb visual.
The pump that we saw really should not have happened under normal circumstances. But there were a lot of catalysts that played in and a lot of big players buying in that sold out, and they took that profit and ran well. Us being right now at the $1.74 trillion market cap bodes very well because it's a healthy climb. We also don't have a lot of these catalysts getting in the way, causing artificial pumps to a significant degree. So I feel much more confident in the stability of climb than I did before. Doesn't mean that we may not have some garbage that happens. It absolutely could happen. I'm saying that I feel more confident in the level of climb that I do see. And so hopefully this will take us to new levels that we've never seen before.
I'll close out my episode talking about a wallet. I was going to talk about an exchange, but I decided to talk about another wallet. And the reason is because the wallet in question ties to one of the exchange, and I figured I would kill two birds with 1 st. Now for the exchange, it does you no good if you're in the United States. I will never advocate using a VPN, but that's up to you. But it ties to an exchange that being bitget.
And I watched this wallet from the side and I was trying to see, I was trying just toy different wallets myself, and the bitget wallet came up and I figured, okay, let's give it a shot. And my summary thoughts on this wallet are this.
I think it's a very nicely designed wallet for what it is. I like some of the features that it offers in terms of the way it trades and the way it shows your cryptocurrency and the access to the swap. It has a cross chain bridge type swap. It has a permissionless type deal. It has all this cool stuff. And it also shows you the price on the bitget exchange. So you can see graphs of the price actually on the exchange as opposed to kind of an iffy descend price. All of that's cool. Didn't have any issues updating it. Didn't have any issues adding the wallet to it. I don't like the forced pin, but you can turn that off. It's called a password. You can turn it off, but they force you to set it, which I don't like. That's me. Some people might like it. It does have that. I can't speak to any other security features because that's not my niche. But generally, I would be shocked if it didn't have things like face and fingerprint and all that crap if you want it. But overall, as a wallet, I was very impressed with what it did. Now, again, if you're in the United States, you can't use a lot of the features of it. So it has a feature to allow you to buy from the exchange. You can't use that if you're in the United States, but if you're not in the United States in one of these supported countries from the wallet, you can just do a trade. It's basically a spot trade through the exchange. It also supports limit orders that are descend limit orders. So you can still do the limit types orders for gambling essentially through the wallet, which is pretty cool if you're interested in such thing. It has a contract checker, so you can scan certain contracts and it'll come back and tell you if there's any issues that it sees. And it also, for certain tokens that it's aware of, will automatically scan it and tell you if it thinks it's a scam or it thinks there's a problem proactively without you having to transact it. It'll just straight tell you right there in the list, which I thought was pretty cool. It does really good for the art. I was very pleased with that. And it's clean. It's a very clean interface. It hides garbage tokens automatically. It's a very clean interface. Does the bitgate wallet. So I have nothing but positive things to say about it other than the fact that you can't use the exchange features in the United States. But beyond that, I think it's a very good wallet. Supports any network that you can think of. You just may have to add some of them if it's not directly supported. Like I didn't see the terra Luna classic chain, so you may have to add that manually if you want. Obviously you can add shabarium, you can add anything you want. Just like metamask, you can add anything you want to those. The other thing I did like about it is inside of its browser interface.
It has an entry that talks about the browser's wallet. So when it talks about the browser's wallet, it's basically saying, I see your wallet that's installed that you're accessing from. I'll just connect to it so you don't have to go through wallet connect. It saves you a couple of hops, which is pretty slick and clean.
The only negative I really had, and I can't say for sure what caused it, but it did seem a little bit slow to do a straight this was not a cross chain. So I did their swap. That's inside the wallet as opposed to going to unitswap for an Ethereum to Ethereum transaction. And it was slow. It took like ten minutes to complete, which is abnormal. I didn't know why it took that long. I can't say what caused it. I called it out because if you are interested in checking out bitget wallet, it is something you should be aware of. But again, I have nothing but positive things to say about it. Overall, bitget wallet, I'm pretty sure it's on Android. It's definitely on the iOS App Store if you want to check that out as a wallet. Finally, we are fresh off the holidays and as we get off the holidays, a lot's going to be changing with the brand, a lot's going to be changing with the companies, a lot's going to be changing with the podcast. Nothing that affects anybody. It's more improvements as I expand the brand at rhymes. So I want to thank everybody that stuck with me this long and we are continuing to do the coverage that we do. If you'd like to interact a little bit more, join us in our discord cryptotalkradio. Net discord. We'd happy to have you there, or you can check us out on x at ctrcrypto radio. But we'd love to hear from you about how we're doing and what you'd like to see more of, hear more of anything that we can do to improve. I do assure you though, video will come back. It will take a different form, but video will come back. I'm still working on the combivo platform. It will replace what we were currently doing on YouTube for the video side, but same base experience.
Again, thank you for sticking this long. It's a bumpy ride, but I think we're in for good things here yet to come close.
[00:31:40] Speaker A: I close.
