Episode Transcript
[00:00:00] Out of Cycle Update.
[00:00:03] Clearly you guys heard the recent podcast episode, but you damn sure don't listen. CryptoTalk FM. My name is Leister. I'm your host.
[00:00:10] I'm still not doing a swag on Block Dag, that rhymes. I'm still not doing it. But I've proven one thing for sure certain, and I hope Binance Stuff hears this, because he'll get a chuckle out of it. One thing is for sure, these guys, these idiots that do the marketing for these jokers, they listen to the show at CryptoTalk FM. They're listening to the episodes. They're listening to the critical feedback. Now, I don't know if they're only listening to mine or they're listening to all, but they damn sure listening to mine. In my last out of Cycle, I criticized the block dad, and one thing I said was, you know, you're not going to make this. You're not going to make your five cents. You're not going to get anywhere.
[00:00:48] You got to get rid of the vesting.
[00:00:50] The apparently I saw this on the site, but it was brought to my attention on core Market Cap community. But apparently when they heard that, they didn't really hear what I was trying to say.
[00:01:02] You see, I didn't say you should do another round of purchase and you'll be able to 100% claim these with no vesting.
[00:01:12] That's not what I meant. That's what they just did. They just now put up a banner and says no vesting pass. So they got rid of the vesting for any tokens you buy new. Why? Because it's validating what Leister said to be the truth, which is that they're desperate to get more people to buy in.
[00:01:27] I didn't mean continue with this pattern of buy new and get rid of the vesting. What I meant was to get rid of all the vesting, as in all the people currently vested, all the people that are holding with no choice, everybody yet to as in there's no vesting at all. I meant all of it. I meant get rid of all of it, have no vesting say, okay, if you're in it right now and you want to cash out, go ahead, because you're just not going to be with us at the end of the tunnel when you launch, say, day 100%. So if you're with us all the way through to the launch from day one, you'll be able to claim your tokens. No vesting, no lockup, no 40%.
[00:02:09] I don't mind if you Want to say, okay, if you get this give, you know, we gave you tokens. I'm not talking the bonus, I'm talking we gave you tokens. Like let's say you won some contest or something. Or like the, the little thing that, you know, if you set up a node, you get 500, you know those, maybe you lock those up, maybe you lock up the ones that did the V, the X1 miner, because those, they didn't do anything other than tap a sorry device. Okay, fine, I'm fine with locking those because there was no money involved. You see what I'm saying? Like if they didn't put any money in, I'm fine with locking those because they didn't put any money in. What I'm talking about is for people that put money in from day one, from Jump Street, 21 Jump street, those people should have no vesting at all. I'm not talking just day forward, I'm talking period all the way back to the very beginning. You're going to be like it's going to tank. Well, that's a very strong risk. That's a very strong chance that happens, isn't it? And you have to look at why that would be a risk. It's a risk because of what you've done so far, damaging the reputation. But because of all the bad decisions you made up to this point. I still don't know the fixation on 600 million.
[00:03:20] And again, I think the supply is too damn high.
[00:03:24] Not rents too damn high, although it is, I'm talking the supply is too damn high. That's still the case. I don't understand the fixation on 600 million. To me, if you just do a standard pre sale with no vesting at all, not just day forward, even the stuff in the current, get rid of the vesting, let it be free. Cuz you guys got dinged on the CIC audit for that too. Because you said you know, everything's a pre sale, they don't have access to the native tokens. So what's the problem? Well, here's the thing. If you didn't have the vesting, none of that been the case. You can actually have the tokens allocated straight away.
[00:03:57] I don't see a reason why not. I don't see a reason why it matters. Because anybody who's serious about making money on something like this is not going to sell anyway. Anybody who would sell, they're going to just FOMO back in if they see that it rockets up. But my theory is the presence of A vesting, any vesting, including the existing people that are stuck in it, is turning people off. I'm saying it's not going to work to just say anything. You buy net new is just not going to have any sort of lockup. It sounds good but it's not going to solve the problem because you still. Because again it's all about word of mouth. You've got to do something for the people that are in it currently. You got to show them that it's on the straight and narrow. And that means no vesting at all.
[00:04:39] That means if they want to cash out, let them. Who cares.
[00:04:42] I understand your fear. Your fear is the reason that you think I'm nuts. You think it's crazy to let people cash out now. But consider why you're so afraid of such a solution. You're afraid of it because you damaged your reputation thus far and you expect people to sell en masse and they probably will. I actually think that's fine because what's likely to happen then, anybody who is serious about making money on it, they're just going to sit on it and when it launches day one, they're probably going to buy at the lower price and it's going to do a stronger jump because now there's nothing holding them back from controlling the profit that they would have made as a vesting sitting in place. You're limiting the profit potential for those people unless if they invest more than they're willing to invest, which I don't think is the right answer. If I go back and think about Libero, Libero Financial when they did a pre sale, after the pre sale was done, there was no lockup. You can cash it straight away is what it is. And then it jumped to jump to jump, went to a penny and people made a crap ton of money. To me that's the right answer. Anybody that was, that was around Libero and some that listened to the show will remember the name Libero when liberal. If they, they might not have been in the pre sale. I was, I remember what happened. I only put a limited amount of money in there. But what they asked you was, you know, you gotta have thorium tokens, you got a certain types of tokens. That was a requirement because what they were trying to do is they were trying to make sure you stayed in the ecosystem best you could. Other than that, as long as you held the asset that they wanted you to hold, you could buy into a thing. I didn't put a junk ton in there, but I still made a pretty good amount of money because I cashed out when it got to a penny and I knew it wasn't going to sustain because it was an unrealistic apy. The point is that they didn't lock up your funds in that they locked up the funds when they did the banks. I'm talking pre sale, which is the phase you're at. In their pre sale they had no such a lockup. You cash out. It was what it was. So I'm saying in this early phase, I don't think the vesting should be there at all. Like I think it should be completely toast gone.
[00:06:40] Then if you want to try to maintain a floor on what you're doing until you settle it out and do a burn event because you're going to need to do it at least once if you want to stabilize it, then you can encourage staking and other mechanisms to lock it up. And I get it, it's proof of work. You can still offer some form of stake, it just isn't proof of stake. But you can offer ways to stake their asset and put it in a lockup period and get some money out of it. You can still do that. It just doesn't doesn't do proof of stake in terms of the transactions, but you can still do it in terms of the benefit to those holders. And it's been done. It was done on countless projects. It was done on baked beans project. You can do it. It was done on elephant money. You can do it. It's up to you if you want to do it. I'm saying that there's ways that to be able to emulate that experience to add value to those people still get the lockup that you're trying to get, just not during the pre sale. That's all I'm saying. I think the vesting schedule for everybody who's in it right now is still going to be a turn off. What you just did might actually turn them off even more, might piss them off because of what you're doing. As everybody who's net new you get the ultimate of benefit, you get the lowest price possible. You don't have a lockup at all. So what you're banking on, and I can tell it from the live transactions, is you're banking on all these little small buyers debate. They're just going to sell out of the thing and you don't care about them and you're trying to wash them out by offering them some way to get in because you're again nowhere close to your $600 million target.
[00:08:12] Now this is the test.
[00:08:14] Not the emergency broadcast system, but the test of CryptoTalk FM. And your name is Leister. Telling you what I think is going to be the case, you're going to do that and you're going to keep going with what you're currently doing and it's not going to hit your 600 million. You're not going to come back in my credit. But I'm saying get rid of the vesting at all. Get, get rid of all the vesting, none of it. Nobody who's in it now should be vested. Let it be free. Show that you want the smoke. Disprove what people are saying about you and say we're just not going to lock it up. That's cool. If you want to sell out, go ahead and sell out. You're not going to be here, you're going to miss the train. You're not going to be with us at the end of the tunnel, whatever you have to do. Because that's going to show that you really are serious about what you're doing. If you just keep the vesting period, they're going to keep calling you scammers and then we have to wait because by the way, far as I can tell, nobody's gotten any minors. I, I saw you said rigs delivered. Rigs haven't been delivered as far as I can tell because nobody's put any video up. And no, I'm not going off yours, cuz that's staged. I'm talking a real person who got a minor. I'm fairly certain nobody's gotten them yet. An update about that might be nice. Did you actually ship which of the miners? I'm not talking X1. I think it's garbage. If you only did X10. Okay, fine. You probably have more X10s out there than 30s or 1/ hundreds. Okay, how many of them did you ship? How many of them did you confirm delivered? If you confirm that they're delivered, put those stats in your site. Let's, let's put it to the test and on your little map that says who's live mining? Let's put some numbers. Which ones are mining with x10? Which ones are mining x30 which ones are mining x100 and if they're mining, what are they getting? Because the thing's not live yet. The transparency is still not there. That's why I say that what you just did isn't going to make a dent in your money that you expect to get. However, in the meantime, and in between time, I thought it was excellent to see clearly. People listen to the podcast at Crypto Talk fm, but you're not hearing Leister when he tells you these things. You're not. Cause you didn't do what I said. What I said was get rid of all the vesting, not just net new vesting. Let's see if you really want that smoke and you're really a serious project.
