Episode Transcript
[00:00:00] Out of Cycle Update and it feels, it feels so good to be rugged. So bad.
[00:00:13] I gotta be honest. It's like watching children in the playground. CryptoTalk FM My name is Leister. I am your host.
[00:00:20] A quick update around what's going on on social media starting roughly around 3am in the United States time zones. And it didn't even matter which time zone because I can't pin down exactly when this started. By about 3am the block that team sent out a post and then and I'm going to school you on some of this stuff but the Black Deck team sent out a post on social media.
[00:00:44] They then employed a bunch of bots to redistribute the same message on CoinMarketCaps community.
[00:00:51] But the post essentially said that they did not want the b dag/usdt trading pairs displayed on the coin Market Cap profile for blockback. They wanted them removed. They claimed that they did not reflect the true story about liquidity, that they were inconsistent, that everything was wrong. It's not correct. Here's the background so you can understand how silly this is. Coin Store I covered Block Deck had been out at Tokyo 2049. Remember that was the whole event where I said this is a person I'm not going to name. But he was up on the stage, he looked like an idiot.
[00:01:26] And they were doing this dog and pony stuff and Coin Store was sponsoring and it seemed like they had a really buddy buddy relationship. Right? Coin Store got some liquidity and started launching Market Maker transactions. When the Block Deck team was starting to roll out a lot of these different things for the exchanges they chose, they cherry picked who they were going to provide liquidity to based on who would follow it the way they want it. Because what they wanted to do was they wanted to force a 5 cent price. Remember they told you that we're launching at 5 cents. They told you that we're guaranteeing we're launching at 5 cents. They said it at least 20 times. We are launching at 5 cents. They were going to do that by way of Market Maker. I explained Market Maker. Market Maker is automated bots creating artificial orders.
[00:02:11] The second part of this then is the Block Deck team blocked the ability to do any deposits of your pre sale coins which means you had to trade on the exchanges themselves. They would use the Market Maker to basically sustain the price.
[00:02:25] Understand that they're still working on blockchain related stuff under the hood but they rushed out getting on the exchanges.
[00:02:33] Now Pionex, I'm talking the international one was one of These that launched and initially had some market maker pumps and then died off the United States side, which is We Bought now used to be Pionex US but We Bought now initially opened up deposits for a couple of hours. A bunch of people tossed millions of bdog in there. We bought closed it down, but it was already too late.
[00:02:56] Now there's roughly, I'm going to estimate about 50 million b dag floating around in Webot right now. We Bought later opened up deposits full scope. So you can fully withdraw. There's a limit. It's like a couple hundred million. It's. It's crazy.
[00:03:10] You can fully withdraw otherwise though, you can essentially fully deposit. They don't have the limits on the deposit. So you can deposit, you can withdraw, you can buy, sell, trade. It's 100% full availability, but it's only for United States traders. It's the only exchange that allows the full trading experience for bdad coins. Which means only Americans are able to take advantage of the free experience. If you've not gotten into We Bought yet, you're hearing it for the first time that we bought been open. It's been open since roughly about March 6th.
[00:03:40] You missed the 10x. That's fine. I want you to understand though, what's going on. What's going on is that We Bought is the only exchange that represents the full trading experience. Even now none of the internationals do. Those were doing fake pump transactions.
[00:03:58] My guess is that the Block DAG team stopped paying for the market makers on the fake pump exchanges. Coin stores price started to dwindle.
[00:04:08] Since coin stores price started to dwindle, many of the others started to dwindle by economy. As I record this has started to dwindle. It was another one of the fake pump prices has started to dwindle. All of them have started to dwindle. That represented the fake pump pricing. So when I saw that the blocked act he was requesting to remove Pionex and as in the international and coin store which previously were fake pump but now their prices are are very close to what was represented on we bought AKA the fair market price then asking them to remove those and only leave what's left in the fake. So P2B which is a very small exchange but apparently they don't care. They'll allow all sorts of fake pumps. They're reflecting a 30 cent price. You can't deposit on the damn thing. I don't think you can withdraw on the damn thing. Even if you could, nobody would. And I don't think anybody's Buying there's because the price hasn't moved from 30 cents. So if anything they like to look 30 cents.
[00:05:08] Coin market caps like screw that bro.
[00:05:10] If I take all your prices, what Coin Market cap does is they ignore anything that's an extreme outlier because they treat it as it's not. This is not fair market. There's no way it's part of the market pricing. So they're ignoring P2B. They're only considering all the remainder. And I guarantee you they're considering we bought even though they don't show it because it reflects fair market. And I guarantee you they're reflecting what's on the block DAG site because it's being sold. If you're offering it for sale, that's part of the market. You cannot just exclude what you're directly selling and say well these don't count because they're not the cex. That's not the way Coin Market cap works. It scans for anywhere that coin is being sold and it includes it in the price as long as it's close to what the going market rate is across all exchanges.
[00:05:55] So if I look at biconomy they're just shy over 2 cents. Under 2 cents by finance is about 2 cents.
[00:06:02] So you got two that are 2 cents.
[00:06:05] Pionex 002 coin store 004 they're going to take that. They're going to get to about a penny ish.
[00:06:13] Then you take what's on the site. It's being sold rock bottom. There's a. There's a widget. They're selling it for a penny on one piece and then another piece they're selling it for a fraction of a center. Okay, well you've got all these different open markets out there. CoinMarketCap knows that. They understand that. What the team thought they would do is basically force a fake price by telling the exchanges to market make do that stuff to give the illusion on CoinMarketCap of a price that wasn't real because it doesn't reflect fair market. Only we bought reflects a fair market. True fair market. Because even Coin Store as far as I know does not allow with deposits as far as I know that. So chances are coinmark or Coin store is subject to people that are basically dumping the darn thing. It might be that they open deposits. I didn't check. I'll double check this after this one. Just from own curiosity, but the decline in price on Coin Store, it's clear that the market maker stuff is out of there. It's obvious clear that the market maker is no longer fake pumping. And that would only happen if the. The bill's not getting paid. Well, where have we heard that before?
[00:07:16] Rosha Dortmund, Inter Milan, F1, Alex Pereira.
[00:07:21] It's a pattern, right? It's. It's the story. It's the pattern is what it is. Bottom line, this has now exposed what they were trying to do, which is to broadcast a fake price to people to trigger fomo. They're using it as a marketing tool instead of as a fair market tool. We bought came out and they responded with a beautiful response that basically says, we're fair market, we're open for business. And they are, but it's only United States. Because right now for why ever it's the case, none of the international exchanges seem to have the same balls that we bought does to just say, screw you guys, we're gonna allow deposits, we're gonna allow fair trade. We're not playing this game with you guys anymore. That's the only way this changes the exchanges. And if any of them or any representatives of them or any employees of them are listening to what I'm saying, this is how you beat this garbage is you gotta take a stand. You got to say, we are not locking any of this garbage down. We're not playing your game. We're not doing these codes. We're doing fair market and let the market decide. And there's your job to show up with a product that makes it worth buying. That's how we solve this. If the international don't do that, you guys are going to be spinning your wheels for months. I guarantee you this. So shout out to we bought for doing this, for putting them in their place.
[00:08:37] Shame on the BlockDAC team for throwing Coinster under the bus after they helped you fake prices for so long and trigger FOMO and all that did. All it did was further harm sentiment and increase the level of calls for scam and calls for you guys' heads.
