Episode Transcript
[00:00:00] Out of Cycle Update.
[00:00:03] Like I said, it's like watching a train wreck in live action. CryptoTalk FM. My name is Leister. I'm your host. I'm still not doing a swag on Block Dag, that rhymes. Once again, this is. This is my help, right? This is my help. This is me trying to help. Not to tell you, not to. Not to tell you to. Simply to help. And in this case, it's informational. And I enjoy the informational.
[00:00:28] And I'm cataloging along the way too, because we have to see what the hell this is going to be. Because nobody knows. They. They claim they do, they don't. And I'm not talking about them today. But I thought it was important for me to help explain FOMO to people. Fear of missing out because it was obvious.
[00:00:45] Not so much Voss Coin, Cause I don't think he's on that vein. Like the crypto Mother, father and idiot, right? Some of these other ones, they don't seem to understand fomo. They don't seem to understand the concept of fomo. They understand the appearance of fomo. They don't understand the concept of fomo. Just to level set where I'm coming from with this, today is August 2nd, as I record it. So if you're coming from international shores, welcome. But here in the United States, it's August 2nd.
[00:01:13] I was out looking at different news about games and I happened to stumble across this pretty incredible ad that says, quote, PC gamers have until August 3rd to claim 13 games for free.
[00:01:27] Just to explain, this is a perfect example of fomo. And you might see parallels between what this is doing and what Block Dag's doing, which is that they put out these pointless things to try to get you to buy in.
[00:01:44] Now, in this case, the purchase is coming by way of something else. It's like, okay, claim for free. But in order to do that, you need to subscribe to this over here. And it's going to be 13.99. See, GameStop did this, right? It's like if you sign up for our program or whatever, the. They did this at the store. I went down. They're like, sign up for this card and this membership. And as part of the membership, the game's not really 59.99. It's actually only 40 bucks. It's not true. It's a lie. I straight told him, that's not the way it works here, dude. He's like, yeah, that's the way I do it all the time. No, that's not the way it works. I understand what you're doing.
[00:02:21] You're saying that it. You're recouping the cost of what you spend now. But no, if I have to pay 20 bucks for your membership and the game is 59.99, the money I'm paying you out of pocket is what, 79.99 up front?
[00:02:37] The recoup is coming by way of the assumption that I'm going to buy more from you. I don't plan to buy more from you. The only effing reason I'm here right now is, is because of the rumor that The Nintendo Switch 2 happens to be in stock because GameStop is colluding with Nintendo to force people to walk into the stores like it's 1999, to quote Prince. And I wasn't gonna do that beyond one trip.
[00:03:02] Amazon came through after the fact.
[00:03:04] So I have a Switch 2 and I bought it like normal evolved society. Regardless, I digress. The point is that this ad is doing that. It's like it's telling you, yeah, by now you got. By now buy now you only got one day. But the truth is that a, you don't have one day. Games for free are happening all the time. Two, you're probably going to have to commit to something. This is fomo. They're trying to tell you to act now because you're going to miss out and. But they're ongoing like it keeps on going. They all do it. Gaming does it. Crypto does it. They all do it. So I'm not absolving block dag of the astronauts and shit. I'm saying FOMO's all over the place. I can't hold that against them. Okay? Unrealistic claims are all over crypto. I can't hold that against them. Pre sales that seem to go for years, I can't hold that against them. None of what they've done so far can I hold against them. Other than the fact that they can't seem to get their act together with their marketing strategy. Because although they're using the same techniques, they seem inept about how to properly market to. To wit, they just launched a widget and I'm here, this is my clothes, to warn people about the widget.
[00:04:13] The widget claims that it's now, okay, you can now trade your block bag. You can't trade your block dag. Okay, you can buy, but you can't sell. That's not trading. Okay, they say, well, you could sell, but you need to buy more, right? No, you're not Selling this is the explanation. So I'm trying to warn you, okay, if you buy more and you click that sell my B dag, it's going to give you. If you do that little slider, it's giving you this number that, okay, I can make my 8,000 bucks right now. Geez, I only put 800 in there.
[00:04:45] That's not the way it's going to work because they straight tell you the sell button is disabled or it's in quote, demo mode. So it's just a sample of what might happen after it's live. So you're paying for the privilege of playing with a toy that doesn't really work, for making any money. And in exchange, you're paying them more money. I'm going to strongly recommend that you do not pay the more money just to do this tool. There's no value to you because you can buy regardless of it and different codes actually give you more benefit because they did the no vesting crap.
[00:05:22] I'm simply putting a fair warning public service announcement not to put more money in there and be triggered off the FOMO that that tool's doing. Thinking you'll be able to sell your B dagger and make a whole crap ton of money now, because that's not the way it works. And for the Block Dag people, because I know that you listen to Michelle now for the block deck people, all you had to do, because this came as a, as a variation of my idea, all you had to do, all you had to do was say if you want to sell and get out now, fine, you're not going to get any increase, you're not going to get any increase of price, you're not going to get any bonus value, you're not going to get any of that. But you can sell out now if you want and you'll get back only what you put in. Because only what they put in is 10% of the real value of it, right? Or actually 5%. Okay, let them take their 5%.
[00:06:21] That's where it was like, okay, I get it now. That's where they derive this target of the $0.05.
[00:06:29] Because $0.05 is 5%, right? Your value you put in depending on when you got in is essentially 5% of a target.
[00:06:42] So the target, the amount of money you put in. So let's take some real numbers, right? Let's say you toss 1,000 bucks, just a straight clean thousand for easy numbers. You toss $1,000 in there, they're going to show you on the widget that it's worth $20,000.
[00:06:56] Okay, I got it.
[00:06:58] But the problem is the 20,000 in that, in that example is based on bonus numbers that you don't get because those bonuses are locked up. So the amount is now going against the non vested, non bonus, so it goes down.
[00:07:16] Okay, so your real actual proposed value, right, is really the 10,000 bucks or whatever? I think it's, let's see, 8,000 bucks. If you put a thousand bucks in there. Okay, but they're telling you a number of 20,000 bucks on the little widget.
[00:07:36] Let's run the numbers. If I put $1,000 in, okay, $1,000 is what, it's 10%, right? Of $10,000.
[00:07:49] If it's 10% of $10,000, okay?
[00:07:53] If I go to 20,000 bucks, that's 5%, okay? So if it's 5% of the 20,000, because 20,000 is 10% is 2,000, half of that's 1, right? So now you understand where the five cents is coming from. The made up number. That doesn't mean anything.
[00:08:11] It's trickery. And this is why I'm warning you not to get in to that whole widget that's giving you fake numbers. Because it's another attempt to get more money out of you. If you want to put more money in, that's on you. Boo. You know, But I'm saying don't do it because the widget's there. The widget's fake. It's not letting you sell, it's not letting you go, it's not doing anything. It's quote demo.
[00:08:34] And they shouldn't have done that. They should have just let you sell out. If you want to sell out and all you get is the basis value, which in your case is that thousand dollars.
[00:08:43] So they'll, and they can tell you you will lose 19,000 bucks because that's what you would have got. You know, you can tell them if that's what they really thought and then that's a different form of fomo, right? But if you want to sell out now for your bases and get whatever you put in back, go right ahead and we'll let you do it.
[00:09:02] Had they done that.
[00:09:04] You have a different type of FOMO now because you now are encouraging people to be worried because that they will miss out on something, right? And they might choose to stay in the. Some of these people that are nervous and skeptical now. You've dropped every barrier, now you've removed every excuse. But because you guys are numb nuts in the marketing team, you don't understand how to do this right. You don't understand how to play and I know none of you are poker players because you don't know how to do this. You don't know how this works. You don't know how easy this is. You're putting these gimmicks out and none of you know what the f you're doing and as a result nobody knows what's really going on and everybody thinks you're a scammer and by the way far as I know there are no minors out in the wild and I'm not talking about X1 it's garbage. I'm saying any of the physical they're not in the wild so my impassioned plea please do not give them more money just because you think that the sell widget is going to work and give you money. It's not going to work. It's just a toy and you're paying you would be paying them for the privilege of playing with a toy. Please don't do that okay?
