Episode Transcript
[00:00:00] Speaker A: Out of Cycle Update.
I don't know if you're going to sing Irvin Berlin or not, but, you know, maybe you're optimistic. Who knows? CryptoTalk FM. My name is Leister. I'm your host. And don't worry if you're too young to understand Irving Berlin. It's. I'm not going to criticize you or hold you to the fact that you're too young to understand Irving Berlin or that you're not a nerd. Because anybody who's a Trekkie heard me say Irving Berlin and they instantly went to a movie.
And I'll tell you what, I'll tell you what, let's make this fun. If you are listening to this@CryptoTalk FM or any of our different platforms and when I said Irving Berlin and I said Trekkie, can you identify the movie?
Can you identify the movie? Do you think you got. Do you want that smoke? Do you think you got what it takes to. To identify the movie? Let's see how good people are. The AMA was recently done. Anthony Turner about this transition. A lot of excitement. However, there were some concerning things.
I think this was Reid that was broadcasting from his side. I think that's how it was working.
Because then he was after the fact and he was doing a couple ama's after the thing was done.
Thanks for shout out, Reid. Because he called out that, you know, because Nick Vander idiot. I covered his AMA where he was talking about the token supply was going to be dropped from 150 billion down to 50 billion. And people freaked out because they're like, where the hell? What? What? And Reed said, yeah, because Nixon idiot asked Leister because I call him Nick Vander idiot. That's one of many reasons I called him Nick Vander idiot. Now here's the thing.
I'm going to speculate and it's only speculation that the token supply is going to have to drop to some degree because in this very ama, Turner talked about that. That whale, 86 million dollar whale said that apparently they spoke to. He spoke to the whale. And they're going to try to move forward and get everything set up and they still have to figure out where to pull tokens from.
And he's talking about the miners supply. I really don't understand the focusing on the miner side for that because it feels like, like it feels like what's the incentive if you're looking at a blockchain, Right.
The whole incentive to mine is the reward.
You're doing it to secure the chain. But the incentive is the reward. If you decrease the reward, you lose the incentive. There is thus narrow no incentive to mine. There was a point where he went through a list of like 30 questions or something that the community asked and one of the questions talked about how the hash rate was working and he, he I, I'll paraphrase but he basically said it doesn't matter because it's a matter of scale that you are one of x people mining and the more people mining the lower your reward. He's right.
But if you take from the mining rewards pool you are limiting the potential for rewards.
[00:03:08] Speaker A: Now the number of miners there was a slide. He showed the number of miners in each slot. X1, x10, x30, x00 or x10 30 and 100.
[00:03:18] Speaker A: Now the red flag read read Claxon.
Remember they told you December that they were going to start shipping miners.
That wasn't true.
Now they're February to start getting minors to people. That's what they said on the slide.
So and if you went back to my coverage of that very indication of the December I said it's highly unlikely. I said it's chances are not going to happen. And I said likely it's 2026. I also said closer to this purported launch, all I've ever asked people just come back give my credit. It's so easy. It's so easy. It's so predictable the behavior. In any case.
[00:04:00] Speaker A: There were very, I think it only said like 2000 on the X1 hundreds.
That means the rewards would have been substantial for X100 ASIC miners.
And then the X30 was a decent number, but not as nearly as high. The vast majority were x10 people.
Seeing the vast majority being x10 tells me that the vast majority of those in interested in the project are lower dollar amount investors.
The lower dollar amount investors, those that don't have significant money to spend on a miner and may not even have the ability to pay for the energy consumption to run a miner because that's expensive. It really is.
So that was enlightening as to the general makeup of the community to see there was so it was almost like 10 times the amount of purchases of x10 versus the other two.
Not just the price difference. It was just seeing that firsthand was fascinating as a stat.
[00:05:03] Speaker A: But he showed the loi.
There was a line that was redacted off the top of it presumably is somehow behind it. I cannot confirm that because it was redacted. He didn't show the whole loi.
I read some of the verbiage in the LOI it basically. And if you don't know the letter of intent strategy, it's the idea that you are creating an agreement between you and whoever other party to do something.
Once you get to the point of actually doing it, you then create a bind to make it happen. It doesn't guarantee that this will actually go. It simply says that they have agreed that they will do it so they can always easily back out of it. Just to FYI, it's possible. I don't know that it will or won't.
Turner shows some slides that were very good. I thought around what they're going to be transitioning and the status and where they are with different moves. And he said that they. You noticed that the pre sale's dead and the marketing team. He said his marketing team's taken over. Nick Vander idiot was not on this call. So I don't know. People came at me saying you should delete this because Nick's still there.
That video said there's a rumor he was fired and it said at least three times, I don't know this is true. And I said if it is true, I don't agree with it.
So I'm not going to delete it because it was discussing a rumor. I don't know if it was true or not.
I question why he hasn't been on any of these calls. If he's still involved, why would he not be on any of these calls? Dr. Hurley did his presentation up front as binance stuff called out. If he hears this as binance stuff called out.
Once again, Dr. Hurley at no point that I could ascertain. Correct me if I missed this.
I never heard Dr. Hurley directly mention blockdag at any point.
It seemed like it was just a general educational. Very good. But a general educational technical presentation that did not connect him to Block Dag Other than him being on the call showing a slide with the logo. But him. I didn't hear him mention it. Correct me if I got that twisted, but I'm. This is my observation on this.
[00:07:14] Speaker A: Turner then went into a couple of other slides where he was talking about these transitions. Read a piece from the marketing team about their excitement to move forward.
Basically trashed the current, you know, hype based stuff. I think Turner even at one point said we have to. I paraphrase, but we have to give them a reason to buy instead of just telling them to buy. I think it's good. It sounds good. Question is, will you do it right?
And then near the tail end and he has some technical issues. Here I don't know if Geese was pulling him off the side and you know, warning him about something, I don't know that. But near the end he started taking some questions and the by and large of it was that he was not, he could not share what people are really interested in, which is the financials. People are really curious about the financials. And in one of the slides, the statement that the, the money in the LOI that you need to give all the funds it needs to come to a control wallet. Well, there's no dollar amounts. He said he can't divulge the dollar amounts. He can't divulge these different things because there's an NDA underneath the loi.
So you don't really. My point is you don't really know more than you did before other than this point that I'll close with. Remember how on the site a couple weeks ago they sent an email, I still got it, where they said we're bringing on somebody from Ethereum and Cardano.
Right. And I covered that one and I said, you know, maybe it's a thing, but I don't think so.
Turner here, it said, he said something along the lines of he saw that and apparently it was a contingency plan that if he was not to be selected, I don't know who would select him. If it's supposed to be a community project, but if he was not to be selected to move it forward, that they had these other people waiting in the wings to jump in.
That's kind of weird because then why would you announce it proactively like that? Is it possible that put that out there not as a threat but basically saying well we're just going to move in a different direction and move away from Turner. And then Turner went on knees, you know, on bended knees, begging. I don't know, I'm saying, I'm asking the question if you have an information, why would they put out it? They put out a marketing email and on the site that said we're bringing on people from Ethereum and Cardano. Now there's hiding our hair of that and Turner saying no, that's not going to happen.
What happened?
I mean that that announcement alone people from Ethereum and Cardano would have caused significant positive just because there's an expectation that the Ethereum side, at least if not Cardano, but certainly Ethereum would lend itself to a successful outcome.
So mentioning that and let's say it was verified the back down.
That's weird. And so you're saying they're not going to be in just because Turner staying.
It's so bizarre to me. It's so bizarre.
In any event, the other piece I'll toss in here, they were trying to get more miners out in different areas, different regions for people to run.
And I know Josh Case requested a minor. I did not request a minor.
You might be wondering, well, weren't you interested in one? Yes, but here's the difference between me and certain other people.
I already put money in on an X30.
It's throw away money. I don't care if I lose it.
The reason I put money in is to show I'm willing to put my money where my mouth is, to give them a chance and test it out of my own pocket. This is what I criticized Boss Coin about.
Well, they didn't send me a minor.
Why should they send you a minor just because you're you? That's not the way this works.
You pay if you want it. Pay.
I don't expect Josh Case or anybody else to pay.
I'm saying for the critic, Boss Coin, at the time, he felt entitled to get one.
There was no reason you should have one if you weren't willing to pay for one.
We know they exist.
What we don't know is when they were going to get out. To the regular layman, we were told BS dates multiple times. Binance stuff. Called it out. I called it out.
You got another date, which is February, the first week of February, basically.
Well, if you're doing a launch or end of presale, February 10th and you have to have the miners in order to do the launch of Mainnet, you're cutting it really close.
My theory, and it's only speculation, you're not going to have a main net in February.
You might not have a main net in March.
[00:12:10] Speaker A: That's all speculation. I don't have any evidence. I have no proof. I'm going off the shift. The shift of the dates has been extreme.
Now there might have been a viable reason for it. I'm simply calling it out for what it is so you can understand.
Feel free to check out that particular ama. I do encourage that you do. So whether you learn something or not, I cannot directly ascertain. However, I thought it was good information for what it was. It's on the Black Deck Investors Channel.
As I record this, I think it's a little bit over two hours. Ish, maybe an hour. How long is this bad boy? Oh, no, no, no. It's like almost. It's like almost.
It's like almost three hours. It's long.
And mostly it was Turner waffling. So you might end up skipping some pieces because it just was Turner waffling. But I think it's good information. If you could piece out the stuff you care about, just understand financial stuff, you're not going to get an answer. I don't know that it's going to make you any more excited. I don't know it's going to make you any more confident.
I sensed from Reid after the post in the ama, I sensed from Reid kind of a cautious optimism.
You know, he's kind of sensing. It's like there's stuff he didn't like to hear, there's stuff that sounds good, but he's kind of cautiously optimistic. That's the sense I got from him. So you might share that sense. I don't know. I don't know if it's going to make you feel any better. It's not. I clearly.
I think Turner said. And he. He did it again, by the way. Can we just move on? We need to just move on. I really can't stand when they do that. In any event, check it out. Block deck investors channel for this AMA and forget you ever heard, like Men in Black. Forget you ever heard anything about Ethereum and Cardano.
