[00:00:01] 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] Thank you for that, Bailey. And welcome everybody out there in Crypto Talk radio
[email protected] Folks, we got a lot to talk about. There's some funny business and I'm going to dominate the episode today with this funny business and hopefully get a chuckle out of it because it's funny business. Separately, I guess I'll give a personal update because I didn't get get a chance to give too many of them. I am currently in the process of doing some enhanced study for electrical. I took electric shop classes way back when I was a kid. Haven't touched it since. So I know the fundamentals, but I haven't touched in a while. So I'm crash courseing on that because what I'm planning to do, there's a lot of different projects that need to be done that are electrical in nature. The electricity in this house is a joke. It's a nightmare. So I need to fix everything. I'm going to get my electrician guy to handle the big stuff. You know, the service panel changes and possibly the transfer switch and all those. I might be able to do the transfer switch, but I'm going to leave the heavy lifting stuff, stuff that requires a lot of labor, you know, a lot of drywall work and running with the wires and all that nonsense. This is heavy lifting. I will leave it to him.
[00:01:25] But things like in the great room I just set up and I don't like the way it's wired, but it's the only way I could do it because these numbness that built this house didn't believe in putting switches in here. There's no outlet on one corner of the house. I gotta. So I just set up a ergometer, right? So it's a weather satellite, dude, and it's powered through usb. But I had to run line from the dressing or the dressing dining room that's all the way across the way. And I don't like it, but it's the only way to do it because they didn't believe put an outlet here. So I did that myself. But then I got to fix the switch that's there. So I'm going to take care of that one. It's this kind of jury rig wire. This is a house from the 50s. So they didn't believe in any court of code. It's like, get her done Everything. So I had to redo the switch. I'm just crash course that one. That's cool. Add an outlet. Because they're damn sure needs to be an outlet there. And it turns out that houses should have a switch close to the entrance, the door. There's no switch close to the door. There's no outlet close to the door. So that's another set of stuff. I'm gonna set up and do that myself. And then the last is to wire ethernet. That part's good to go. I'm ready for that. I just have to move all the Internet stuff over. So I'm going to be working on electrical and wiring and modernizing the home. And then it's going to culminate into lighting. Lighting. I'm gonna probably have him put up the fixture for the ceiling fan and then I'll put the ceiling fan up myself. Plus I'm gonna get some lighting in this room. It has no lighting whatsoever. Right now I've got some LED businesses sitting up there. They look okay, but they don't. It's not enough. I need a little bit more lighting. So I'm working a lot of electrical stuff to the point that's what's dominating my personal time. And then my, my plug in hybrid electric car failed an emissions exam. So I gotta go and get that fixed. And I'm not happy. Pissed. Absolutely pissed. But I can't get a new car because all the new, what they call cars are garbage. They're just selling garbage. And what they do have that I would consider is overpriced garbage. So I got a lot going on. As a result, I haven't started cryptocurrency. But then I was online yesterday and noticed some very hilarious stuff happening. And then later, earlier today rather I saw some hilarious stuff. That's what I'm going to talk about today because it gives me a break from the nonsense that's going on. Gives me a chance to, you know, chat with you guys and give you an update. One of these is a project I covered before and we're going to revisit it. So let's go ahead and dig on this business here, CoinDesk.com and we're going to zoom out to the month chart and we're going to look at bitcoin, everyone's favorite, because everyone's kind of excited about bitcoin, especially on the month chart. Currently right now a low of 105,000, a high of 108,000. Sitting right now at 106,000. As I record it Slight upward trend with the expectation that we may be headed back down for an actual correction. This wouldn't be a dump of epic proportions, just a correction down to roughly about the 100,000 mark, if not 98,000. Some people said 95. I would suspect that 95 is extreme because in order to get 95 there would have to be strong sell pressure. And I'm not sure that the people who would sell would do it. Feels like they're kind of holding for the next leg up, which is expected to be around the 150,000 mark as opposed to crapping back down. I could get that wrong, but I don't get the sense that there's a, a lot of sell pressure on Bitcoin. Conversely, Ethereum, with a low of38.5, a high of 4,000, hovering around the 38, close to 39,300 mark. As I record this, as I said before, I don't feel confident in any run without Ethereum running. And it just will not run no matter what we do. Ethereum will not run. 4000 is fine, but Ethereum should be in the five figures by now. Easy. There's no logical reason for Ethereum not to be in the five figures. And it's pissing me off as I'm watching and seeing no logical reason why it should not be going to that. That degree. I wanted to kind of caveat since I'm watching Ethereum and seeing it not perform and behave. It got me thinking that one thing I should do more of is talk about the ETFs. I don't invest right now in the Ethereum ETFs. And the only reason I don't is because I was waiting to see the performance of the Bitcoin ETFs to get a sense of. Of whether or not it made sense to get into the Ethereum ETFs as a secondary type of investment right now. I got into the Fidelity, by the way etf. I didn't want something tied to blackrock. If you didn't know the background of the BlackRock fiasco. BlackRock is associated with the company where Diddy sued the company. And the theory is that because he went against the company, it's the reason why he was taken down the way he was and when he was that something was leaked that they were committed to getting him taken out because they offended him somehow. I don't know. I can't prove it. I'm saying that Black Rock is involved with the Diddy fiasco. So I was trying to stay away as much as I could from anything black rock.
[00:06:42] So I got into the Fidelity one and I've been happy with it. It's been steady graph, very consistent. Just shy of $100 per share. I don't have a lot of it. I, I think I put, I think I put like 2000 bucks in it at the time. And it's essentially doubled. That's not bad. But it's, it's now it's because of Bitcoin's run. It's just going to sit there as a growing asset. And these returns are significantly better than anything you could have gotten on the regular banking side, even on the stock side, unless if you were gambling. And although the ETFs are subject to halting, we don't see a lot of volatility with it. So I am advocating, is what I'm doing. I'm advocating for the ETFs because if you're nervous about cryptocurrency, now some people are gamblers. I'm talking people that just want to make money and they want to do it reliably and safely. I am going to encourage you to consider the ETFs. Consider the Bitcoin ETF, consider the Ethereum ETF. If there is a Solana one, consider that one. If there's an XRP one, consider that one. Because these are tradable. Just like you would trade any of your stocks or bonds or any gold or any other asset class. And it's a strong, stable something you are investing in a fund. So effectively you don't own the underlying asset. This is true. But you benefit from the price movement in a very safe way. It's protected. If you're in the United States, it's governed, it's covered. So you have protections that you lack. If you go straight cryptocurrency, some people will just stick with the cryptocurrency because they want the control of the asset. And that's fine too. I'm just suggesting, strongly suggesting, that you consider the ETFs as another asset class for your portfolio because I think a lot of people are overlooking them and I think it's a bad idea. Because if anything, let's assume that Bitcoin 10x's from where it's at. So it gets to a million dollars. People think it's going to get to a million dollars. I don't know that it does, but let's say that it does. Okay? If it gets to a million freaking dollars, can you imagine how much that is per share of this, we're talking a thousand dollars per share. That's a lot of money and it could be fundamentally life changing for people. Let's say you got a hundred shares, okay? Right now, at the current prices that we're talking about, a hundred shares is going to be net, it's going to be about 10,000 bucks. So we're not talking chump change here, but consider that 10,000 bucks could swell and get you to $100,000 someday. You can't touch that with a 401k. You can't touch that with your bank, you can't your employment. Some people's jobs don't make that much money. So I'm not telling you to put all your money. Like if all you had in free money was 10,000, I would never tell you to put all of it. At that point I would tell you, okay, put a thousand and take profits and that kind of stuff. I'm saying that if you had enough money, let's say you are saving up for some trip and so you're saving up $30,000 for a trip. I would absolutely recommend take 10,000 of that instead and toss it in something like this and just let it sit there, don't pay attention to it, don't watch it every day, just let it grow as an asset and use that. Because remember, at some point people are going to have to retire, got to pay bills that are not paid by anywhere else, pensions are dead. So it's something they strongly consider. So I do think it's a viable strategy for anybody that wants to have a strong portfolio at some point.
[00:09:56] Just a quick couple of news bits and then we'll get into our absolute hilarious topic. First of all, Coinbase, allegedly Coinbase has refused to list wrapped Bitcoin on the Ethereum chain. Wrapped Bitcoin, of course, is essentially a wormhole token. What happens is you can benefit from the price movement of Bitcoin if you're trading on the Ethereum chain. You can also do the same thing on bnb. You can do the same thing on, I think Solana has one as well. So you can benefit from the price movement of Bitcoin without actually interacting with the Bitcoin chain. How do you do that? Well, let's take Binance because it's the easiest to understand. You would go to pancake swap, you would connect your wallet, you would identify some other token. Let's say it's bnb, could be anything. That's Binance. You would say, I want to buy, in this case bitcoin it actually has a bitcoin ticker on and it's on the Binance chain and you would say, I want to buy X amount. And you would see that it matches the price of bitcoin. So you're able to watch the price movement. Anybody that's listening to me, that came from the thorium liberal ecosystem. If you're in Thorium Bank, Thorium Bank's rewards actually include bitcoin on the Binance chain.
[00:11:04] If you were to have tossed 10,000 or say $1,000, just something simple, $1,000 into the thorium bank, you'll make a couple of bucks every day. It's not a lot of money, but when you get the binance bitcoin, it's constantly growing, it's constantly appreciating, same with Solana to some degree. So you can actually benefit from those rewards. That was one of the appeals of Liberal bank when it dropped is you get these rewards in the form of this token. When they evolved the bank concept and what used to be multiverse capital, this idea that you could get these secondary tokens but on the Binance chain meant you could benefit from positive price trending. I'm sharing that. Anybody who's aware of Thorium bank, it still exists. And if you go in Thorium Bank, I'm not suggesting you do, I'm saying that if you do, you can get access to binance bitcoin and benefit from the price appreciation of bitcoin on the Binance chain. Doing nothing other than staking money over there. I don't know how long it would last because it has. It's running out of money over time. At some point it's going to drain. Seems like there's not a lot of activity on it. But I'm calling it out because some people may be familiar with that structure and may want to consider looking at that because it's a way to just generate again, passive rewards. That was always a cool thing. And I'll talk a little bit more about other services, but people are getting pissed off about what Coinbase is doing delisting wrapped bitcoin. And just to talk about the reason that they made this decision, what happened is there was a lawsuit about this. Coinbase responded. They said that in their mind, route to bitcoin is associated with Justin Sun.
[00:12:41] Well, the issuer of the RAP bitcoin tokens, an organization called Bit Global, B I T Global. People are wondering, well, what is the, what is the connection here with Justin Sun? Well, Justin sun is connected with the Bit Global and this Was a long time ago there was a news article that came out that talked about how Justin sun was going to have increased authority over Bit Global. And of course Bit Global is issuing wrapped bitcoin. And so the, what Coinbase is saying is by Justin sun being associated with this company who's an issuer, you're basically giving him control of the assets if you, you would no longer own them at that point. Similar to Tron. Well, Coinbase list Tron. You can buy and sell Tron on Coinbase. So I found it hypocritical that they did that because it, what's the difference? It felt like the timing was rather convenient. It felt like they were just simply reacting to the run up of bitcoin and they wanted to get some more press and news out there for something that was bitcoin related. Because there was no other logical reason I could think of around why this, why this happened, why they made the decision. So yet another piece in the puzzle as to why I say Coinbase is crap is because of the things they do. And that's why I haven't used them for ages, because they're crap. They're a terrible exchange and they are, they have been, they will be, They've not changed. And I don't think that they will change. Some people like them, I understand, that's fine. I don't like them. I think that they're absolute, I think they're terrible. So it's whatever it is.
[00:14:10] The other piece, this is not really news, but it's more of an FYI, is that somebody, you know, you might have seen like Microstrategy and some of these other ones that are just bankrolling millions and millions, millions and millions of dollars of bitcoin. I don't know if people understand. I'm going to tell a story about 2008, the housing bubble, the housing crisis, because you may not be familiar with what happened. There's parallels with what happened there and what happened here back then. Leading up to that event, what people were doing, the housing market, house prices, house values were increasing, increasing, increasing, largely due to supply straight constraints, largely due to an influx of investors, largely due to banks lax standards making it easy to get loans. It was just a very, is a wall, wall west of lending in the housing market. And so what people would do is let's say you get a house and it's you know, $200,000 and then as prices appreciate and demand increases, that house increases in value to say $600,000.
[00:15:10] The difference in what you owe versus this excess is called equity. So let's say you put $50,000 into the house, $150,000 left as a loan value is now up $600,000. Now there's $450,000 in equity.
[00:15:29] People had an option and many took advantage of it to either take out what's called a heloc, which is a home equity line of credit, or do a cash out refinance.
[00:15:39] Many people chose the heloc.
[00:15:42] Some took home equity loans, which is a different product, but the vast majority took HELOCs. A HELOC behaves like a credit card. Essentially you're taking out a line of credit against the equity with the expectation you're paying it back. So you would just simply charge whatever the heck, right? I want to get new siding on the house, I'll charge it against the HELOC and pay it over time. Seems smart. So then people, what they would do is they would do all these improvements to the house that were expected to improve the value of the home. You might have remembered there was a period in time during this span, everybody was doing marble countertops. Everybody was shifting to hardwood floors before hardwood floors became a standard. Everybody was shifting to these types of high end windows. Everybody was shifting to like heated floors in the bathrooms and kitchen remodels and bath remodels and garage remodels and all these specific targeted remodels, pavers and landscapes game. All these things are designed to do what? Improve the value of the home, further increasing curb value, curb appeal. You, you drive by it, you see it looks like something you want that place. And that would entice people to bid higher on the home when the demand hit a fever pitch and supply was low. Especially if your home had things that were in higher demand. As an example, my house is the only house within, I think about a five mile radius that has two full bathrooms. You might be like, huh? I'm serious. My house is, that's one of the reasons I picked it. Even though use the second one. The point is, I knew what it meant. I knew there was going to be a higher demand because I knew people would want houses that had more than one bathroom. The reason that there's less bathrooms is because of the theory that you don't need to have more than one bathroom. Plus, older homes, they didn't prioritize more than one bathroom. Everybody just shared, you know, things. So they didn't have this concept of multiple bathrooms and large kitchens and these things that we take for granted. I remember my Parents house, they bought it, it was built in the 70s. When they bought it it they. The kitchen was nothing like it was nothing. It was a hallway, it was a little hallway and it had, there was a unpermanent thing in the back. It was not, it was bad. So they spent a lot of money upgrading the house. They bought the house. The first person who bought the house in this built, they spent $16,000.
[00:18:12] They bought the house from whoever was selling it. I think it was a trust for $89,000. The house skyrocketed to like 6, $700,000 after all the improvements, after the significant spike in population. Because there was a time when we were surrounded by forests, we were surrounded by you know, canyons and there was nothing out there. It was like northern Washington in terms of how sparse it was. And then all of a sudden all this stuff starts popping up and it starts to be population growth and population density overload. There was a huge run from the military. A lot of military folks were coming back from like Pearl Harbor, Persian Gulf. You know there was a lot of, there just was a lot of people that shifted to this area and it created the perfect storm. My house I had in Washington state, I bought the house for I think 265 or whatever and I let it go for basically at cost. I didn't make any money on it. I looked at just the other day, it's over $700,000 worth in an area that there was nothing out there. Again it's, there was nothing, forest, trees. I had a frickin forest in my backyard. So my point is that the housing market goes through these cycles and at that time that was priority for people is to take advantage of not only the natural price appreciation that was happening, but also these helocs to do improvements on the home that they knew were going to further improve the value of the home beyond what it was.
[00:19:44] Well after this starts to hit a fever pitch you start to have a lot of people who were taking out what's called subprime loans. Subprime loans are where the bank is essentially lending you a loan. It's a slightly higher rate but they because of lower credit your risk. And so it's called a subprime law. It's a classification of loan.
[00:20:05] These people, they were taking out those helocs but they were using it for non valuable reasons. You know, I'm gonna go on a vacation, I'm gonna buy a new car, a new flashy, whatever, things that they normally couldn't afford, right? And they're just stacking stuff on credit, not understanding you still got to pay it back. And there, if you had bad credit leading in there, chances are you're not going to pay it back. So a lot of these were going under. A lot of these loans were going under. At the same time you have all these banks shutting down. So many of those were the issuers of said loans or said debt. There's a concept of selling debt. And trust me, this will all come back to crypto in a moment. There's a concept of selling debt. So you can, the government does it, banks do it right, you create a debt situation. So this debt instrument, it's called this person owes X, you sell it. So you say, I'm going to sell this debt. We want the money off of it because we don't want to hold it on the books. We don't want the negative on the books. They sell it to a different organization. That organization then sees it through to the whatever, right.
[00:21:09] Normal things. So they're selling all this debt, Selling all this debt, Selling all this debt. Well, the banks are shutting down because people are not paying back the loans. People are losing jobs. There's a lot of layoffs that were happening. And then worst, because people are going upside down, as in the house values are starting to go down. There's no longer the same significant amount of value in the home and not the same value appreciation that was seen before. So you might have, let's say a $300,000 home and all of a sudden, because of what's going on, you now the, the appreciated value has gone into the negative. You now or if you were to get an appraisal, let's say the appraise is only at, you know, 200,000, but you owe still 300,000 on the home. You're upside down. So a lot of people then would start walking away from homes or if they were laid off, they can't pay the home and then they get foreclosed. One of these two would happen. So it was a perfect storm. Then again, banks shutting down and foreclosures happening, people walking away from the debt. You know, the people buying the debt instruments, they're stuck with bad debt. And it was a cascade effect. This hurt everything. Because if there's this significant supply hitting the market of homes and no buyers because of what's happening in the economy, it affects those lenders, it affects those, you know, real estate agents. It affects everybody. And then those people, because they're not making any money, they're, they're affected on the buying all the supplies they need, the clothing market, everything. Perfect storm of everything crashing and burning in this situation that we're talking about with Coinbase and, and all of this. And then now the MicroStrategy. MicroStrategy and some others. What they're doing in order to generate more money, to take a risk. I've said that cryptocurrency is gambling because that's what it is.
[00:23:05] Many businesses and celebrities do this too. What they'll do is they'll take out loans or new credit card debt. They'll take out some sort of debt in order to buy into cryptocurrency with the expectation, given the price appreciation, that they'll be able to pay it back later. There's two reasons they do that. One, it provides access to liquidity they wouldn't have otherwise. Two, it saves you from the tax burden because it wasn't money that you spent on said crypto. So a lot of these celebrities, like, when they're buying a house, they're buying it on loans, they're buying on debt. Even if they're millionaires, they're not buying cash out because they know there's a tax burden to doing so. They buy it on loans because it insulates them from tax risk. So a lot of these folks, all they're doing is they're taking out a bunch of loans or they're, they're bonding some of their own debt, right? They'll, they'll offer like stock or they'll do something else to bond their own debt and sell that to generate money and then pump it over here into the cryptocurrency market. There was a message that came out recently. It said that, you know, Satoshi Nakamoto is richer than Bill Gates. He has, you know, over 100 billion or whatever it is because he says, wallet's still out there. Their wallet's still out there. And the question of, well, what happens if bitcoin crashes? Well, if what happens if bitcoin crashes? It means, no, we have a problem because a lot of these are going to absolutely crash and burn. I think the way MicroStrategy specifically did it is smart in the sense that again, they're issuing debt securities.
[00:24:39] So it's not as risky as the ones who are doing loans. I'm telling you, though, that there's people that are doing loans, there's people doing helocs, they're doing whatever to generate something to be able to buy into this cryptocurrency. Now, at these prices, I don't think it's a bad thing, but it's high risk. So if you're, if you're considered doing that, I don't recommend it. But it is a viable strategy for some people, especially if you're in a financial position where you can pay it back, right? If you could take, let's say you make, you know, 5,000 bucks a month.
[00:25:12] If you make 5,000 bucks a month but you knew that you wanted to get at least 50,000 in Bitcoin, well, remember, you still got your living payments. You probably have a car payment. You got to feed yourself, you got clothes, got utility bills. You may have school. There's all sorts of things that limit how much that is. And then there's taxes, so you don't have as much disposable as you want. Meanwhile, the price isn't waiting for you. Doing the loan allows you to avail yourself of it now and then worry about this later. It's not a problem per se, but it's, you know, it's not ideal either. Again, I'm not recommending it, but it is something to consider.
[00:25:49] All I would say is make sure that whatever your income source is, is stable and that you can rely on it. Obviously the job market is a scam, we know that. But to the best of your ability, make sure that you have a steady stream of money to make sure you can pay it back if and when time comes for, you know, the bills to come due and somebody start knocking. So I don't want people get trapped in a situation, but that's what they're doing is they're taking out debt in some form to stack this here and maybe in some cases they make enough to where they could just pay it back. So that's smart, right? But it's risky. That's all.
[00:26:24] Now two garbages I'm going to close out the show for. Okay, first I was critical of the monkey she in you.
[00:26:34] And I'm gonna call out. So summary. The apparent allegedly monkey emu was breached. I don't know the deets, I don't care because it's a garbage token. But allegedly was breached. Now believes has been talking about that one and heavily talking about it and telling people to get in it. And I'm again, I said before I don't know why it is, but I, I have a theory, but I don't know why. But it seems as though there's a pattern to these projects that crap around, ones that he's talking about directly. So I'm going to make the statement. And if he doesn't like it, he can talk to me. But I'm going to make the statement.
[00:27:15] I would recommend, unless you're a gambler or roll the dice, I would recommend avoiding anything that he promotes. And I'm saying that not against him. I. I'm saying it because every it. There's a pattern in for why Ever. There's a pattern in these ones that something happens to each and every one of them at this point. I know he's talking about Coins Chick, I know he's talking about Debbie. He's talking about a couple other ones. Bean, Boo, whatever that. Whatever. I know he's talking about a couple other ones. I don't know what'll happen to those.
[00:27:47] But this one with Monkey, and it's not. Again, it's not him. I'm saying that there's some magnetic effect where they're being drawn to him and I don't know what that's about. I don't know why there's such a pattern with the ones that he talks about. I don't have that information. It's a recommendation from me because it's my show and I can do that. So that's that one. And it had something to do with some liquidity locking tool that they used and that's what got breached, but it ended up being this one. And there's a theory there's going to be a relaunch as a V2 of this monkey shield.
[00:28:22] And that's why I'm recommending stay away from it, because if there's a relaunch, no token is 60 that's relaunched. Which then brings me to my other two, ever rise. Anybody that's listening to me for a while knows I was heavily strong on Everrise and I felt like it should not be able to fail. And unfortunately they proved me wrong because it's absolutely terrible what's going on with this business. Hyper Liquid, which is a different project that I don't know deep details about, but I know it's a blockchain and I know it has its own thing going. It launches. Somehow Everrise gets connected to it and the result is a fake pump of the price on Everrise, but only a display on CoinMarketCap, which affects all the different tokens, because when they're looking for price information, they're going against coin market cap. And the problem is that the liquidity is ultimately based on pancake swap. There's no liquidity, or I should say insufficient liquidity on Ever Rise. There has been for over A year so you can't sell for the price that they're quoting because there's not enough money to pay you. So you're going to see these pumps that tell you you got a thousand dollars worth of this business. You don't. It's if you try to go to pancake swap and do a swap you're going to see there's nothing there. That's it's not a scam in the definition of said it is simply this hyper liquid jacked it up all these wallets pointing at CoinMarketCap instead of building their own or pointing at TradingView and CoinMarketCap having faulty data. It's a perfect storm of it. So ignore the fake pumps you see ever rise is essentially dead because they jacked up the project they got rid of Jen and the moment they did that everything went to crap. And the focus on riserbots which I said wasn't gonna do anything come on get my credit because I told you wasn't going to do any good the last one and and and you know what? Before I go to the last one I had to point out something somebody said because I I was laughing and shaking my at the same time. User beard Bakshi says quote I invested in this coin since 2022 v1 v2 v3 very bad team very bad performance. That's the spelling of coin look like scam Even maximum coin staked but still price not moving that's a spelling because weak theme performance feeling bad for all community members One more scam we are unable to sell our tokens. I think he means enable or unable or not able right? Unable.
[00:30:53] What we can do with this 10 pump alt it is fake. So here's the thing again Bad team absolutely bad performance. Absolutely scam. I don't think so. I think they just made the wrong call in reaction knowing it wasn't going to do any good. That's what I believe. I I believe that I don't believe scam I think they just made bad decisions on what they're doing. I've never felt that they were trying to rip people off. I think they're just incompetent. Right. Same but it could be could be just like cider chain right? It could be. I just don't think it is. I think they're just incompetent people.
[00:31:39] Which leads me then to my next one which I didn't know about. I just learned about this one. I'm sharing this public service announcement I didn't. I did a coverage and an interview with The CEO of HODL Token. This is a while ago. It's still out there. The audio is still out there.
[00:31:54] Videos available to our triad members, but the audio's still out there. And at the time when I did my coverage of the HODL Token, the main thing I said in standout was I didn't like the supply. I think it was like, I want to say it was a quadrillion supply was a lot.
[00:32:10] And to refresh Huddle Token is one that was spun up around the safe moon time. So it had, you know, unrealistic supply reflections, BNB rewards rewards and all the. All the things that you would expect from those tokens of the time. It was one of the last holdouts.
[00:32:27] Now, from my recollection, there have already been three versions of HODL Token. When I talked to the CEO, he seemed to think there were two. I recalled three because I know the first one, after the first one, there was some sort of a breach. They did a. They had to replace it, did a manual swap to get to V2. Then there was another. Some sort of situation. I don't remember that one. I remember getting another one. That was the one just prior. They just done a relaunch. This was in response to a hack that happened where liquidity was drained out of the project. That happened in September.
[00:33:05] After the liquidity's drained, they decide to redesign the contract from the ground up and then relaunch it. Same tag, same binance chain. I'll talk about that in a second.
[00:33:14] That relaunch just happened. That was December 10th as I record this. So that just happened. So it's out there. But the problem is that CoinMarketCap screwed up the way to display. So if you had, if you ever had it in the wallet, it makes it look like it's up like 1 million percent or some crazy number. It's not. It's just they relaunched it and they dropped the supply from whatever the quadrillion was down to 10 billion. They airdropped it to anybody that had more than, I think 20 cents a week worth of it. So not everybody got it back in the airdrop that came out. There's no more reflections, so there's no reflections I can see. And if there's no reflections, I don't know if there's going to be any sort of BNB Rewards or anything. It's still on the site that there is, but I don't know that there will be. Now the thing I want to give them a shout out about is when they. Their communication was stellar. They didn't force you to go to Telescam to get these updates. It's on their site and, and they kept it up to date with multiple news updates right on the website. And the team has their faces there, their name is there, their linked is there. And again, I interviewed the CEO myself, so he's on video if you're a tribe member. Point is that I can tell these are guys that, that want this to succeed. They want it to be a thing.
[00:34:27] My, my struggle only was I didn't. There's a tax, there's a buy and sell tax and if there's no reflections and if they are getting rid of the rewards, I don't know if they are, but they are. I don't know what that's going to look like in this new contract that they're doing. But then there's a Huddle X. I didn't know anything about it because I didn't go deep in it. But they're discontinuing the huddle X and then they're going to be financially compensating people that still held that token. So there's a lot that I saw from the team for Huddle where it gave me a confidence that they're at least trying to make it right after what's happening, learn from what happened and kind of recoup. The one point of contention I had. I did a coverage about Don't Kyc and the Don't Kyc idiots and they were rebranded to something else. I forgot what that was. But they got breached right when they about to do the launch and they talked about, you know, let's take this as an opportunity, we'll do this and do it better. And I saw the same messaging from the HODL team and I don't like to see that. I'd rather see that you say, first of all, this is our opportunity, opportunity to rethink the tokenomics. That's. That's fair. I would like to see a way to have maintained reflections and rewards and everything in some form if there's going to be attacks because right now if you need to do a Trade, it's an 8% slippage. That's crazy. But that's what I mean. If you're gonna do it, you got to spin it because otherwise I think you're gonna have a hard time competing with all the other garbage tokens that are out there. I don't know that the tokenomics are going to be enough to appeal to those people and I would have wanted to see them Rethink that. And if you're going to do a tax, there should be some sort of reward structure in place. And it's a reward structure in place. How can you get the rewards such that you don't need as much tax in order to do it? Some way to generate revenue from the project and things that you're doing. So there's a lot that they were building so way to generate that revenue. Like I almost would have taken the extreme and said let's build an actual blockchain, a HODL blockchain. Take the blockchain concept, use the utilities you're already building, put them on the blockchain itself, control that now, then build, you know, your wormhole tokens so that you could still interplay with Binance. And I would have even done Solana, I would done Avalanche similar to what Everrise was trying to do, but failed. See that through. That's what I would have recommended. The whole supply change I think would have been good if you had your own blockchain because then I think you would have succeeded where Cytochain failed. I'm just a bystander in this regard, sharing my thoughts. So I am sharing the message as a public service announcement. It did get breached. CoinMarketCap is screwed up right now because they did a merger of the data. So you're gonna need to go to HODL Token, I guess HODL token.net to their site and it has the coin actual contract address for the current version of the token. If you held HODL more than I think 20 cents or whatever it was, they airdropped you. The new version of the token, you have to add it to your wallet. You'll be able to see it. Some wallets, it'll automatically show up, but otherwise you'd have to add it to be able to see that you can transact it and trade it. If you go to Pancake Swap, you'll need to change the slippage to about 8% otherwise it's going to block you until you won't work. If we try to do a trade and you're, let's say you're using Trust Wallet and it tells you that the tax is too high, you're on the old contract, it's blocked, you cannot. You have to go to the new contract and interplay with it. So that's HODL Token. HODL Token in this situation was one of the last that I can recall from that era because Angie, that idiot who sold the business and and quit, didn't do it.
[00:38:03] What was that one, a baked beans project. I think it's dead. Elephant money. I think it's, it's still dead. I don't know what happened to that one.
[00:38:12] Let's see, what was the other one id Finance. I don't know what happened there.
[00:38:18] Didn't id. I forget what happened with that one. That was a, that was a crying shit. Like it's just crying and then ever rise jacked up all those ones, you know, from that era. And as I said, this was where we're going to see what was going to happen, who was going to be the last mainstay. And the irony of this thorium still out there, I mean, geez, you think of all the ones that failed and thorium is still standing. That's nuts. It's absolutely nuts. Bonkers nuts. Especially because thorium is flagged on a lot of these different scanners now as a scammer because of what they did with Libera and what they did with Libero. They're not scammers. I can, I can assure that they're not scammers. However, they keep spinning up shinies and that makes them risky to deal with. But with Hodl, I didn't see any such a risk at all. I think they have the best of intentions and they're trying a lot of stuff and they're willing to kind of push the envelope and I give them credit for that. I just wish that they had just gone all the way, create a blockchain, use that, use this opportunity to just go full throttle with it. Because I think there would have been enough money and apparently they generated some money from the community to restore the token and everything. So that's a testament, I think to the community aspect of the. They built. They're being called a scam. I don't believe so because they, they put their face out there. I mean they put all the risk on the table. If they were going to rip you off, they would not have done that. That's my opinion on it as a platform platformer myself. In closing, as I said before, this is a different era, it's a different time of cryptocurrency. And even the Solana garbage run hasn't lasted. Pump fund still out there. It's still making garbage. Did you hear about that kid? A 13 year old kid. That rug pulled a bunch of people and then the, the script kitties in the crypto community spun up some pump fund token. They doxed the kid and they spun up some. It's like Devex quant Or what is it? Gen Z Quant. It's what it is. DevX. Gen Z quant.
[00:40:14] This kid, he spuns, he spins this up. Gen X quant. He rug pulls it for 30,000 bucks. He, he's on Twitch, flipping everybody off after he does it. So the script kiddies doxed the kid and they made tokens out of, for his dog, his sister, I guess his mom, his dad and those were running to get their money back, but they doxed the kid. Thirteen year old kids. So then they're like, this is a child. And like hold on now. First of all, we need to look at the parents. The parents gave this kid a phone. The parents allowed this kid to download the freaking app in the first place. The parents allowed this kid to inject money to create a token on pump fund. The parents failed this kid. Don't go after the people that retaliated. The parents failed this kid. This is, this, this is the downside of cryptocurrency is that we're gonna have this narrative that it's somehow abusive for the kids when their parents are not parenting correctly and the kids go crazy like this. Nuts. That's, that's what we're. That's why I said it's a different era. And that's why I tell you to be careful because a lot of garbage out there, even, even kids are ripping you off, right? So if you're a gale or to roll the dice, hey, it's your cash. Can't tell me to do it. But it's a different era and I'm going to implore you to stay safe because there's a lot of sketchy business out there. Hodl's not one of them. Everrise might be msi.
[00:41:40] You know, time will tell on that one. I don't know Sa.
