[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]. welcome or welcome back. Of course, today will be a short episode.
A lot was happening, but I'm going to try to condense the vast majority of it into some succinct bullets. Look it up for you to try to digest because it wasn't too difficult to understand what happened.
It was a lot all at the same time.
I think I'll get out of the way up front. So I think it's doing a disservice for me not to do that.
I can't tell you exactly what to do in any situation.
I can make a recommendation. It's still going to base on your specific situation. That rhymes.
Somebody said online and I thought it was good.
Everybody's financial situation is different. Everybody's financial spot is different. Like Leister, CryptoTalk FM. I got a job, I run my own business. So I make money outside of crypto. I don't use crypto to make money. I do crypto because it fascinates me and I watch for price movement and I use it to talk to you guys. That's all I do. Some of the YouTubers out there, or as Binance stuff John, shout out to him, will say, scam tubers. What they do is they've gone all in and they use crypto for their money. They use crypto to pay the bills. They use crypto to put food on the table. That means they don't necessarily have all the best interests at heart.
It may be that they're trying to influence you into getting into some crap project because it fills their pockets. I simply want you to be aware and mindful that that's happening to you, that you're being influenced to buy in certain projects to enrich them, because they are motivated to make sure that you buy into their crap projects because that's how they make their money. They don't make their money work at a job like Leister does. So Leicester will tell you the truth, because I got nothing to lose. I don't need to rip you off. I. I'd rather keep you safe. Let's talk about some cryptocurrency again. It'll be a short episode, I can guarantee you.
Coinmarketcap.com we're going to actually start with Ethereum this time. The reason I'm starting with Ethereum is that Ethereum had a couple of notable things happen. Plus the downward trend is a bit tremendous. If you look at the month chart, it is actually a downward trend. It currently is just shy of 3,100 bucks, but it's downward trend. It wouldn't surprise me to see Ethereum go to that 2900 range before going back up again. I don't know for sure it'll go back up again, but it wouldn't surprise me. I'm not making guarantees. I'm saying that the downward trend is strong and it surprised me for a moment till I dug a little bit deeper and looked at Bitcoin. Before I go to Bitcoin, let me talk about that little bit on Ethereum. Apparently this guy named Tom Lee, I don't know who this is.
Bmnr. I don't know what that is. I'm assuming it's some sort of British summer or other.
Apparently he took out a bunch of. He borrowed a bunch of money. He borrowed billions of dollars of other people's money and he used it to buy into Ethereum when ethereum was like 3, $700.
So Ethereum's now is like way down, right? So he's at a major down. He's not lost because he didn't sell.
The point is not that he's down. The point is not that he bought in. The point is that he borrowed so much money to do that buy.
So this is the best form of gambling, roll of the dice you can envision. He took other people's money. And if you don't know how the banking system works, when you put your money in checking and saving, CDs, et cetera, you are giving your money so that it can be lent out to other people for them to do exactly this. This is what the rich people do.
The rich people don't spend their money. Rich people, truly rich people, don't spend their own money.
So when somebody tells you they're making like $500,000 a year, they're not rich. They're rich to you, right? If you're only making 80, but they're not really rich if they have to spend their own money to get stuff done, they're not rich.
They're well to do. They're well off. They're not rich. Rich people use other people's money because that's what rich people do.
So this guy people are speculating. It's possible this is then connected to some bits that were identified on Bitcoin. That's why I wanted to hold it off because it kind of all ties together where bitcoin currently is. The 92,000 bucks. At one point it dipped, got down to 89,000 in a past episode. I think it was like four or five episodes ago.
I was always targeting a range, about $88,000.
All I've ever asked, man, is come back, give my credit.
There's no science to it. I just look at it and this is my theory. I throw it out there and see if I'm right. And I hope people give you credit for calling it. But bitcoin's in a downward trend just like Ethereum.
People did some analysis and followed some wallets and apparently what was happening was that a larger amount of wallets than usual were borrowing a bunch of short term loans on the bitcoins. They were borrowing these bitcoin amounts, heavy amounts of bitcoin and then they were selling it to get the cash out of it. Essentially a liquidity sweep of, of a sort. But they were trying to get. They were sold it, they sold it on that and said depressed the price, they're selling it on the cheap.
So I thought that was interesting because I can't prove it. This is the analysis I was reading. However, it did affirm what I said to be the truth a while ago, which is that bitcoin is now controlled, it is influenced. It is no longer that level of unpredictable that it used to be. There's a, there is a predictability to it, which is peaks and valleys. It's always going to have those dips. It's always going to come back somewhat good, but the dips are going to continue to happen. So when certain of these, as Binance stuff says, scam tubers tell you it's going to be a million dollar bitcoin, it's possible. But in the short term it's going to be peaks and valleys. And you have to be mentally ready and sure that buying into cryptocurrency at this point is appropriate for you. I can't tell you if it is or not. I'm telling you that this is what you have to deal with and contend with. And keep in mind you don't have FDIC protecting your assets. On the crypto side, if you get into precious metals, which of course Leister Crypto FM has been assuring you, that is a good bet, then you're somewhat insulated from the chaos that's happening. If you didn't listen to them, there's nothing I can tell you. But precious Metals is one of those that's been reasonably stable. It also has peaks and valleys, but not to the degree that Bitcoin did recently. That rhymes.
The other negative catalyst to price movement is the inability to actually trade cryptocurrency, or the inability to get to your assets, or the inability to get to your bank in order to buy more. What would cause you not to be able to get to your assets? Well, if the Internet crashed, if the Internet went kaputs, you wouldn't be able to do the work. And that's what basically happened this morning. An outage of the Internet. Roughly 19 of websites on the Interwebs went kaputs. It wasn't actually the websites that went down. If they were using a service called cloudflare, they were subject to an. What essentially was a human that screwed up. I'm going to break down what happened, just so you understand, just to give some background. 2021, you can see all this at CryptoTalk FM. If you did search 2021, AWS has an outage.
Multiple of these service providers have outages over the years. 2025, AW sent an outage. CrowdStrike had an outage earlier. Crowd Sensor had another outage. This CrowdStrike outage.
People were like, how can this happen? How can there not be a backup? How can there not be redundancy? I thought I would share what CrowdStrike does, how it works, why they use it, why is it so ubiquitous? Why is it so widespread? Why is it so in control of the interwebs?
CrowdStrike has three primary. There's a lot of dud that they do, but there's three main services that CrowdStrike pitches to these website providers for their websites. The first and most notable is bot mitigation. They have technology that allegedly is able, is smart enough to be able to mitigate bot attacks, so called ddos, distributed denial of service attacks to keep sites running and keep them from being taken down. Anybody listening from the Saitama fiasco with Russ the cult leader, will remember one of these episodes. He talked about a DDoS attack. And what was that guy, Teddy Ganja, and he's like, no, you have AWS. There's no DDOS. That's. That's what that's all about. AWS and CrowdStrike and all of that are strategies, technologies that are used to mitigate bot attacks. That Teddy was saying, you already have it. Did you turn it on? Are you using it? Because AWS has it.
AWS has it by way of CrowdStrike. They have their own, but primarily they're hooking into CrowdStrikes as well. Because CrowdStrikes is more evolved, it's more mature, it's more learned about the different types of attacks that are out there.
The second that they'll use is for distribution of service. So if you're trying to hit a server and it's in Brazil, it'll take you longer via hops over the Internet to get to that Brazil server. It's going to be somewhat slower. CrowdStrike deploys a distributed footprint to minimize how many hops it takes for your request to get to their website and back. To give you the illusion that everything is somewhat faster. There's caching and other things that I won't get into here. Point is that they also have those types of strategies designed to help speed up your Internet experience to some degree.
The other is for, ironically, uptime. So to ensure that your service is actually up, let's say, say you have to take a server down or server gets taken down, they offer redundancy to where this copy can be brought up and run services when this primary goes down. So CrowdStrike does a lot. That's why they all jump on it, because it offers a lot of those services so they don't have to do it. You might think it's lazy. It's actually cheaper in the short term.
Long term it's. It's kind of a wash. But those big businesses don't care. They're looking at it as well. If I didn't do CrowdStrike, I'd have to hire a bunch of people, and I don't want to hire a bunch of Americans. And so I just went YOLO on that. And that's what happens. Right.
This most recent was actually inside CrowdStrike. One of their staff deployed some software designed to improve the bot mitigation that I talked about. And instead it attacked itself is effectively what it did. It took itself down, started blocking its own requests and transactions, and it starts spreading like a virus throughout its network, which was taking down those other servers, that those servers were returning the wrong response. They were not supposed to return that response because the servers were actually running. It's just that CrowdStrike was blocking the ability to get to them. That's essentially what happened. The boss, one of the bosses, I think it was a CFO of CrowdStrike, came out and they acknowledged what happened and said, this is on us and it should never happen. And we're working to mitigate what happened. But this reignited the conversation about centralization I did an update, it's on CryptoTalk FM, about the fact that we don't have Descent. You have to get rid of the narrative that we are decentralized. Even your favorite garbage dog token, if they've jumped on aws, as so many of them do, AWS has crowdstrike on the back end. So that can be taken down. Cryptocurrency can be taken down. Your bank sites can be taken down. Banksa banks, Mercury, all these other, you know, fiat conversion services and all these other transactional things that you rely on in order to be able to transact cryptocurrency effectively at some level, probably run some form of this, of this business. CrowdStrike.
I even have hosting, I have multi hosting and it hosts multiple of the sites. But I know under the hood there is some crowdstrike going on. This is just the way that Internet works. You might not even know it's happening to something that you use if you have some hosting of something of yours. Email, let's say, could be crowdstrike under the hood, you can't get to the email services. So in a world where we are increasingly encouraging people to get on these online services, this is what can happen. Some guy or gal can simply deploy some software and just kills the business. This is what the, this is the narrative. So you're like, well, what does that mean? Well, it means that in the modern era, it's actually less, it's actually more risky and less safe to rely on putting your money in the bank as opposed to the old days of stuffing it in your mattress. Because that's really what we're at. Sure, there could be a fire. It burns all the money in your mattress. That's absolutely, truly a risk that could happen.
But what's worse, something where it's a situation where you can fundamentally control it, because there are ways that you can control, you know, fire. There's fire retardant safes and all sorts of things that put it in your control to manage your money or have it locked in a bank where you know it's there but you can't even get to it. Now you could walk into the physical bank. Remember what I did? I did an update. I think this is like a year ago where I was talking about the fact that they were trying to get rid of cash at the local banks. So what good is it if you do go to the local branch and there's no cash or we're moving to a world where there's more fintech banks? The fintech Banks don't have actual branches.
Robinhood sent me an announcement, by the way, and they said they were going to close the cash card, which I never used because I couldn't even activate the motherfucker because they were forcing you to use the mobile app and I wasn't going to do it. Then they finally did on the web. I told them to ship the card. The card never showed at the mailing address. I had to do it like four times. It finally got there. I finally got the card and then they emailed me telling me it's going to be closed in December because they're launching this Robinhood Gold stuff. So they're going to charge you for the privilege of using your money. One of the services of Robinhood Gold allegedly is the ability to have cash delivered to you. I'm assuming it's some sort of Brinks truck or something. Of course, if somebody in the neighborhood sees a Brinks truck pulling up to your place with something that they have to know is cash, it's probably going to make you a target for getting, getting a hit put out of yourself. And I can't say for sure. The point is that we are moving to a world where it's going to be less safe in order to leave your assets, any of those assets in some of these services, because they can be taken down, boom, in the blink of an eye. I'm not trying to put fear into you. I'm telling you the real this is the reality. This is really what it is.
So I have another update on Block Dag. I don't want to, but I need to because I think it's kind of a self imposed duty that I do this.
Block Dag sent out an email very recently.
The email gives certain messaging that you should hear and I don't know if it's true, but you should hear.
Essentially says that they're going to be bringing on somebody who is a quote, early Ethereum core founder, part of the original team that shaped Ethereum's architecture and quote, a former senior executive from Cardano says senior management, that apparently there's going to be a new AMA next week.
That apparently they're going to be talking about the new management structure, whatever that means. I did an outer cycle where I said rumors were that Nick Vander idiot was fired. I can't prove it, but apparently he's gone because he hadn't been seen hardly at all. There's no mention anywhere on the social medias. So we know there is some sort of management shakeup. We don't know what that means. We don't know how deep it is. We don't know what it is. We don't know if Granquistros is still involved under the hood and we don't know what's going on with the money. But the same email also gives the impression, it says, quote, minor delivery, fully secured, completed in 90 days.
So it's claiming that within 90 days the miners, all miners, it says every minor, whatever that means is going to be produced and delivered. That's what it says.
What does this mean? I don't know. Is it legit? I have no idea. Is it bs? I have no idea. This is what they're stating. If you're in the block tag, this is what it is. And I, I thought about doing it out of cycle and I figured if it turns out to be a legitimate something, it's going to be huge news and I figured everybody should hear it.
If you are new to Block dag, please do not buy in at this moment based on my message. Wait for the ama, see what's happening. Let them prove to you that they're doing something, then you might consider doing something. I just, I would recommend you stay away from it until they prove something. Because for years, two years plus, they've not proven a damn thing. And I don't want people to yolo into the. So I'm just shar. I'm spreading the message of that because again, it's a self imposed duty that I do. So the other thing I'll do is give a shout out to member Josh Case, who I did an out of Cycle on YouTube and to the podcast about at Crypto Talk FM about his medium article. And he's done countless more Medium articles on different topics around Block D. He's, he's, he's holding them accountable. He's criticizing them openly and publicly. And I appreciate him doing that. I also appreciate he's giving suggestions. Here's some ideas, here's how you can get it back on track. It's really good. There's so much of it. I didn't want to do an out of cycle. I felt it would do it.
Not enough service. I also wanted to make sure again, if there is, if there are people outside of Black DAG watching, this might be a good place for you to start because it'll help catch you up on what's been going on and the concerns of a member from a member of the community that is truly publicly critical, which is what you want to hear and avoid. You know, Mark, so his medium is joshua-case.medium.com if you want to check that out. Also, I did an upload on the podcast about Josh Cases Medium, one of his Medium articles that has a link to one of the articles. You can check that out and then link to all the other ones. I strongly recommend you read through all of what he has to say. I don't want to steal his traffic. I want you to go and check it out. It's worth checking it out. Definitely check out Binance Stuff's channel. He does copious coverage. I do see more people are listening to him now, which is good. Scam Alert by Fetra is back.
Hopefully he's gonna start doing more uploads. His stuff's fantastic to check out. There are multiple people out there that are putting the voice and holding them accountable and that's what we needed. For so long. There's been marks and we're getting now to the point that there's awareness, there's public awareness and strong awareness. And folks, this is what critical mass is. That's what you need to do. This is how you get change.
Whether it will work, yet to be seen, but it's still a beautiful thing when you can pull it off and you could show this is how it should have been all along. This is how you should hold these types of people accountable. So it's a great thing to see for the future, to see if the project is going to turn itself around and possibly be something good because the tech looks like it's decent good.
And then it might turn out to be something amazing. Who knows?
In closing and in summary, once again, I can't tell you what to get into. I heard something about Monad M O N A D.
Apparently launching on Coinbase. Coinbase is crap, so I do not advocate it. That might be something. There's tons of projects that are spinning up, but most of them are garbage. We don't see a lot of blatant scams. I don't do pump fund, so I can't speak to any of that stuff. But I can't tell you specifics what to get into. I can simply tell you that if you're in cryptocurrency now, whatever you're in that you're solid on, stay solid on it. If you're not in cryptocurrency now and there's nothing that catches your eye, consider Bitcoin. You can't really go wrong with the core coins. Bitcoin, Ethereum, Avax, you know, hbar. You can't really go wrong with any of those.
But if you're one of those that's trying to hope for the glory days of 2021 of being a millionaire, I'm sorry, I got a bridge to sell you because I don't think we're at that era. I don't think anybody's going to be. Unless it's some sort of a new launch and you're willing to dump like a hundred thousand dollars in it and hope a 10x's always possible. Tons of projects do it all the time.
Always possible, always a thing. I am never going to advocate that.
If you want to roll the dice, it's up to you and I celebrate. As long as you admit that's what you're doing, I celebrate it. The other thing I'll say consider this whole outage. Consider what it did. Consider what it does. Consider what it means. It means there's no such thing as decentralization. Cryptocurrency still has that risk. It has inherent risk of being influenced by bad actors or just incompetent numb nuts.
Those influences, they affect your bag, they affect your money. Fiat is just as affected because those sites where they force you to go there, if it's a fintech type bank, online only, they're just as affected.
You can't run from it. You can't. Precious metals though. Keep the precious metals in your house. Can't nothing take it from you. If you, you know again, your house could burn down a hurricane. There's all sorts of things that could happen to your deal. This is why there are things like safes, you know, safes that are designed to against those kind of natural disasters or certain banks are hardened against those. But it's a physical asset you can go and retrieve when you need to.
I'm not only targeting physical assets like precious metals, I'm telling you that other asset classes, diverse portfolio has always been the key. It's always going to be the key. What you choose to do again is totally up to you though, Sam.
