“Go Fsck Yourself” --Elon Musk To Advertisers

December 01, 2023 00:21:33
“Go Fsck Yourself” --Elon Musk To Advertisers
Crypto Talk Radio: Basic Cryptonomics
“Go Fsck Yourself” --Elon Musk To Advertisers

Dec 01 2023 | 00:21:33

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Leicester

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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] hopefully everybody's out there staying warm. We're back on cryptalkradio. Net. My name is Leister. I'm your host. If you're new, welcome. If you're not new, welcome back. This episode is going to be quick. I've got a couple of topics I'm going to kind of breeze through. I want to spend some time on a few of them. But just FYI on a personal note, so I just went and got some Pizza Hut because why not? I don't eat pizza all the time. It's a rare occurrence. And I figured pizza was good as much as any, and I didn't even know where it was. So I went to pick it up. I go down there. First of all, it looks like a freaking slum. There's like ghetto people in the back there's. No, you know, Pizza Hut normally has a really nice counter, really nice lighting. No, this is in a business district, and it doesn't look like a Pizza Hut from the front. There's a sign, but when you walk in, it doesn't look like a pizza Hut at all. It looks like a freaking, I don't know, like an office. So anyway, there's all sorts of clutter all over the place. I'm like, okay, am I in the right place? A girl comes out from the other side and initially just on body, I figured, okay, little attractive young lady. Well, I don't know if anybody out there watched the movie the Wedding Singer where he was doing he was depressed and he was singing about love stinks, and he was looking at the table with all the quote, ugly people at it, and they all had, like, unibrows. And that's what happened. So this girl again, from what she she was dressed like a freaking guy, but her body just was nice. And I figured, okay, cool. Good presentation for a business. And she turns around and she's got a freaking unibrow. Everything else, it's butterface definition of because everything else is like, very nice hair, very nice skin, whole nine, nice young lady. But then the unibrow and I was like, dude, really? And then again in the back, you just had ghettoness, just ghetto everywhere. The workers were ghetto. The whole thing looked like the worst thing I could ever imagine. And I didn't want to say I got ill, but I was questioning whether I should take the food. That's how bad this was, folks. So that was my day. I mean, it was fine. It was cold, but it was fine. So I got that out of the way. And then I got my root beer. And I don't drink root beer nearly as much as I used to. And I sent in to General Mills that they need to consider lucky tricks cereal. It's pastime. Let's get rid of that, know the plain stuff and take the marshmallows from Lucky Charms and add them to Trick cereal and make kids all over the place happy. That's what we need to do. And then the last bit, just so you know, I was able to get the 80s version of the original Optimus Prime. We're talking at the time, this was like one of the hottest kids toys, right? Optimus Prime, Teddy Ruxpin and Mr. Potato Head. Those are the three that were the big kids, couldn't get enough of them. And so the Optimus Prime, I had that, and the fat kid down the street took the buggy that was in the back, and it was rare. If you had the full Optimus Prime of this, it's diecast. It's really nice. And I got mine, and he's up there watching my records, so that's cool. Anyhow, we're going toss some cryptocurrency. I'm going to crank through the numbers real fast. I'm not going to spend too much time on it, but I see some things. And then there's a couple of news bits that I want to make sure that I get covered today's episode. So if you want to follow along, I am on CoinDesk.com, and I'm looking at Ethereum for this because I want to start there and talk about it. And then I'll go to bitcoin. But looking at Ethereum and then at the bottom of the chart, you can zoom out to the one month, which is what I recommend. I always recommend not looking at the 1 hour, the one day because it's misleading. But where we're that when I look at the month chart, I'm looking for more green than red, which we certainly are seeing. We're seeing Ethereum on a somewhat slight upward trend. Currently hovering at 2050 ish a low of 2022, a high of 2024 middling. However, I still anticipate that we're on the cusp of a bull run sometime in December. That's what I get. The sense of everything feels like it's ready and primed to blow up. We have to wait because there's still some factors out, floating, SEC, et cetera, that are getting in the way. But I do think that we are primed and ready for an upward run. Certainly Bitcoin has no choice. I would think so when I looked at its chart and I zoomed out on the month, its upward trend started to taper off a little bit. But it has a long term strong bullish indicator. From what I see, that what we're seeing right now is basically the last drop down before we start going on initial runs. Doesn't necessarily mean we're going to hit 60,000 in a month, so don't expect that. But I do think that we're about to hit some new highs. We're getting very close to the 40,000 mark. And I would remind people just last year we were down somewhere to the 12,000 range. Some people stacked, they bought a bunch of bitcoin when it dropped to the all time lows. And so those people have made out really good, especially if you were able to buy a good amount of them. Now, these are people that knew what I know, which is that Bitcoin is not going anywhere in the short and long, but it would have taken a lot of money to get a lot of return. Because at 12,000, basically, let's say that you were able to buy one of them. That means the most that you could expect to get in the short is a couple of $1,000. Well, if you already had $12,000 to throw at it, a couple of $1,000 probably ain't going to move the needle for you. It's not chump Change, but it's not going to move the needle for you. You're going to expect to make double it two X, three X, four X. And Bitcoin certainly should get to, at minimum, a three X from where it's at, but we don't know when that happens. So then that's money that's locked away somewhere until you get to that run. And there really is no choice in the matter because you're not really sure exactly when it's going to go on the run. This is why it's a form of gambling, because you're gambling on number one, that it doesn't drop. You're gambling on law changes, you're gambling on something breaching your wallet, you're gambling on a lot of different things. And I encourage anybody listening to my [email protected] to make sure that the money that you throw at it is truly throwaway money. You don't really care if you lose it, you don't care if anything goes south. It's throwaway, you're playing around with it, and it's free money with which to do so. Just to put some perspective and some fair disclosure, I have a pretty good amount of money. I wouldn't call it it's more than most people could afford, but I have a pretty good amount of money tossed in coins, and I've got sitting in a hardware wallet that I don't look at or touch, simply because I just have to wait for the Bull Run. And I know, at minimum, the one that I invested in has no choice at this point, has no choice but to six X from where it's at. Well, if it's six X's from where it's at, it's not going to be life changing money, but it is enough money that I think it would be good from a life perspective of the things I Want to do and the future that I'm looking for in retirement and everything else, and these are appealing. And then being able to give back to family members and so on, it's enough that I'd be able to do that. Well, that six X is probably about a minimum, because that was the all time high before, and that's under a situation where there wasn't that many holders. In this situation, I expect because there's so many more holders. I think there's probably ten times the holders. Well, if I go off base math, I'm estimating that certain of my investments by now should easily be able to ten X from where they're at. And if it ten X is that's a pretty good chunk of money. It's still not life changing, but it's a good chunk of money. And then if it goes any higher than that, well, yeah, that's going to be life changing for me, certainly. And then there are people that invested in Chain Link, they got life changing amounts of money and so on. So it's an intriguing time. Now, again, I'm going to stress and encourage that you do not just yolo into things because you just don't know what's going to happen with a lot of this. It's possible they go crazy. It's possible that they don't. We know they'll go up. We just don't know how fast, how high, and if it lasts or if it does not last. So just be careful no matter what you do. A couple of news bits. I want to cover the death of Charlie Munger. And you might be wondering who the hell Charlie Munger is. And I'll do my best to explain while I deal with a bizarre headache. And I know why the headache happened this time. It's because of motion sickness. But Charlie Munger was at 1.1 of the largest critics of cryptocurrency, and so his passing, he passed at 99. He was with Berkshire Hathaway, so he's a well known rich dude, and he trashed crypto every time he could get around. And then when he passed away at 99 a couple of days ago, of course, as tends to happen, a token was spun up bearing his name, Munger, on the ethereum chain. It did an unreasonable pump, because what happens is anytime there's these garbage meme coins that get spun up in response to somebody or something, there's always that FOMO pump and dump that happens. And that happened here. A lot of people lost a lot of money. And I'll say it I think it goes without saying, but I'll say it anyway. I know it's tempting to try to gamble off some of these because you think that you can make a quick buck, and you can. I would recommend that you don't. But I can't tell you what to do with your money. I just know that these again, if it doesn't have a utility, it doesn't do something. It's not going to add value. It's not going to be valuable to the world. I question the reason for jumping in. I understand the temptation. I'm simply going to make the recommendation that you don't, because it's obvious that this was not going to go anywhere because it wasn't his number one. Number two, he hated crypto. And number three, it came out of Are. And I actually saw some people chiming in about this business. This is user HD says, quote update I was rugged by Munger Coin. I consider this a prorata distribution to the virtuous, as in this guy. So I'm surprised, but I'm not surprised to see people get in and that they don't understand that that's what's going to happen when you deal with garbage tokens. So I'll repeat one more time, please don't, it's up to you, but please don't. The next bit of news, circle, who's behind this USDC coin, allegedly rumors are spinning around that Circle was somehow aligned with terrorist activity and Hamas specifically and Justin's son. This came from a campaign of accountability, accused of not stopping illegal financial activities, which triggered certain government entities to talk to various cryptocurrency firms and encouraged them to stop any illegal funding activities. There was no proof of any illegal funding activities, simply that there were communications between Circle and Justin Sun. Circle came back and said, we don't have any accounts for Justin Sun and talking to somebody is know, it's not against any law. Apparently Justin Sun had some accounts back in February, which is what spurred this business and they had closed those back in February. Sun got sued very recently after this happened, but very recently as well around illegal security sales. This was largely spurred, just to repeat, the Biden administration has been trying to crack down on terrorism related to cryptocurrency because of reports that cryptocurrency is being used to fund Hamas and other terrorist activities. There was never any evidence that Circa was involved in this, simply that allegations and rumors and speculation and of course the Biden administration will gladly run with that and make a so called nothing burger out of the situation. The other bit, and I'm really excited about this one in particular, brazil country announces a 15% tax on offshore cryptocurrency earnings. You're wondering why am I excited about a tax? I'm excited about a tax for offshore foreign because at the end of the day, if we don't have taxation for different countries and people are able to hide assets offshore without paying taxes, it tends to cause these various governments to be more aggressive in going after those assets wherever they may hide. But at the least, there's a tax framework to pay fair share of taxes on cryptocurrency earnings. And assuming we can get to a level playing field with respect to what is taxable, I think it gives the government enough to where they can back down a little bit. That's my personal opinion. So yes, it's not good, but taxes are a necessary evil, especially for countries and their infrastructure. And I would rather have taxation across the board than have people hiding their assets in non tax countries. That's my personal opinion on it. I'm going to stick to that. There was some whale activity very recently that caused people to be a little bit excited. I can't tell you that it means anything, but I'll share it because I think it's worth talking about a whale recently bought a bunch of Ethereum, bunch of polygonmatic, a bunch of BNB shiba inu Chili's. Of course, if you've listened to the [email protected] for any length of time, you heard me say that the core coins can't steer you wrong. So maybe this whale listens to Michelle. I can't say for sure, but obviously this whale believes that these are going to go somewhere and they're making targeted investments to these. And of course, the key here is that as these are used for gas on various chains, as gas gets more expensive and transactions get you need it in order to do transactions, and volume starts to spike, tends to rise. The price of things like BNB went as high as like 600 something dollars. Ethereum high is $6,000. So sticking with the core is almost a guarantee that you're going to make some money. And the amount of money that they're putting in there, they're going to make a killing on these. If they hold the line. Now, they may not hold a line, they may just take your committal profits, which would be smart, but if they hold the line, they're going to make a killing on that business. I'll repeat something I updated on a previous episode. Binance USD as an FYI. Finance is going to be phasing that out. Scheduled to have the phase out completed by December, since we'll remove it from their trading platforms. And what they're doing is they're encouraging people to move all of their assets, their binance USD assets, to other types of assets. And getting away from those binance USD was paired with a lot of cryptocurrencies. This was very disruptive to a lot of people. But the truth is that the regs were all over this. The SEC was all over it. Then New York state of New York department of financial was all over it. It was a big deal. And so it was not unexpected that this happened. And so if you're in I would even recommend, whether you're in binance or not, just get away from reliance on binance USD. Target other stablecoins. I can't really recommend one to you. I'll just simply say that USDT has the most pairs for our stablecoins, but I know that there's a lot of other stablecoins out there. But true USD, for example, had de pegged. So you gotta be careful which one you choose. I just would not recommend buying a USD. That's all I would say on that one. Ethereum. There's changes coming on Ethereum. Idiot Vidalik came out with an announcement. He's talking about some major changes to the network. It's going to revolutionize the user experience for ethereum. Strategic improvements around it, more secure, more scalable, more affordable, more user friendly. I'm not going to go to the details of this one. I will say that any improvement on Ethereum can certainly only be a good thing because it kind of went stale after they went to proof of stake. And people have maintained concern that the centralization risk is increasing every time they do something. Let's keep an eye on that and see if that is something. But as it stands right now, this is something to be aware that, yes, they're telling you, make sure that you are ready for what's coming on Ethereum. It's going to affect you regardless if you hold it directly. If you have any of the other tokens that are on the Ethereum network, they will be affected by these changes as well. I mentioned about the hacker on KyberSwap and I said that I don't agree with giving into the demands is the right answer. Just keep on giving in the demands. Give me the demands. Give me the demands. The KyberSwap hackers recently debated full control, full control of the and I've never seen this before, but full control, allegedly. There's a specific DApp that they were talking about when they said full control, but what they want is authority and assets. So basically, control of the Dao is what they're talking about. They want total control of everything it takes to govern and guide the ecosystem entirely. They sent a manifesto to KyberSwap and they said, you better do this or your guys are toast. So Kyber's in trouble. The price hasn't been affected, but Kyber's in some big time trouble. And I'm going to keep an eye on this one for sure because I'm curious if they're going to give into this business because it seems like whatever hacker was deeper than we thought. So I'm watching that one very closely and I'll update you as I learn something. Celsius, you may have gotten an email from Celsius. I was not in Celsius, but you're in Celsius. This is a quick one, but basically you'll be eligible to withdraw 72.5% of the holdings that you had, minus st transaction fees. So if you had assets that were locked up in Celsius, you should have got an email allowing you to withdraw at least 72% of your assets. If you didn't get an email, check the Celsius site, see if there's any information out there because allegedly that's available to you as we record this. And then the last is more a bit of a funny news. So Elon Musk was on Andrew Ross Schrotkin show, and he was talking about how all the advertisers were pulling their stuff out and basically refusing to advertise on X, formerly known as Twitter. And Elon had a very targeted response, which was, go f yourself, because what he felt is that they're basically blackmailing him with money. They're saying, if you don't do what we tell you, we're going to yank all of our money. It's a figure of speech. He doesn't literally mean blackmail. It's a figure of speech that they're using money to try to hold him hostage. That's essentially what they're doing because they're threatening him. Well, he's a billionaire. He's a billionaire for now. We don't know how long that lasts. After he does this announcement, somebody, just like with that whole business of Munger spun up a garbage token called Go F Yourself, and it soared over 160,000%. Significant pump and dump. And by the way, if you're a gambler, whatever, but I wouldn't recommend you buy into this business. I'm telling you about it because it's a funny story. Anytime Elon Musk says something or does something either, somebody says, spin up a token. That's what happened with Baby Doge. That's what happened with Floki. That's what happened. He says a thing, and somebody goes out and spins up a token. And then usually it becomes a pump and dump in more cases than not. Floki was a rug pull multiple times over. Baby DOJ has never recovered, et cetera. So I am going to recommend that you do not jump into that. But if you choose to, I'm telling you about it because it's up to you. I can't tell you to do with your money. I just thought it was a funny story to tell. In closing, Cryptocurrency looks like it's on the edge of something big. Folks. We're seeing a lot more activity. Unfortunately, we are seeing some garbage activity along with but we are seeing some more activity. More activity can only be a good thing. We are expected to see a very exciting run across the board. And if it goes as exciting as we expected it should, this means significant profit opportunities for those that are so bold and want to take the risk. So all I'll say is please don't yolo and please don't FOMO and make sure that it's throwaway money and that your family's taken care of. You got food on the table, and please don't feel tempted off of garbage like this. I'm not saying telling you specifics. I'm saying be careful. That's all. That's all I can ever tell.

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