Episode Transcript
[00:00:00] Out of Cycle Update.
[00:00:10] The only difference is instead of 60 minutes, it's been over 48 hours. CryptoTalk FM. My name is Leister. I'm your host with a follow up on the Block Dag desperation post about this block dag x10 hashtag that is not trending on social media.
[00:00:25] And what appears to be a struggle getting people hyped about something that may or may not be the truth. And I don't know if it is. I'm saying that seems like there's not a lot of energy around this block dag x10, which they were saying, you got the minors. Please come on, do something. Post it. Please do. And it's everywhere. It's Instagram, Facebook, X. It's all over the place and I don't see any energy whatsoever.
[00:00:50] I found a grand total of one new post that's not a. That you didn't mishear it. A grand total of one new post about the block dag x10. You know who it is? It's that bapt underscore doctor that I covered that said that they were the graphic designer for Block Dag. So an insider. So an insider put a post on X. You can see this yourself if you follow the hashtag. He's the top one now because he just did it four hours ago.
[00:01:16] And it says it's a DHL screenshot, says from Nick Vanderberg, Block Dag with a delivery date of basically the first week of September after the holiday.
[00:01:26] He does not have the tracking number because of course that would give his address. He does not have any other specific data, just this screenshot. So we don't know if screenshots valid or not. And some of the comments are criticizing because they know who this person is and they know he's associated with Block Dag. So I can't assert that this is true or not. However, we do have open forum. We like the smoke. We welcome when people from the communities, plural, want to speak and be heard. We got a contact from our form@CryptoTalk FM.
[00:01:57] Name is Catherine. Catherine says quote, wanted to reach out because I really appreciated your videos about Block Dag and wanted to let you know about a big update. I'm in a group of black Dag investors and it looks like the X10 miners are actually being shipped. We have a lot of people in the group who have received shipment texts or emails from dhl.
[00:02:16] They should start arriving next week. Why Block Dag didn't save their reputation by keeping investors updated is beyond me, but it is a positive development.
[00:02:25] Also, you should look into the block that tokenomics which I have by the way. Quote, they simply don't add up. If they sold as many coins as they claim and are giving out increasingly insane bonuses. Pause.
[00:02:37] So I did cover that and I talked about the supply and I said there's no way. With the miner, the X10. When they did the video, they were, I estimated at the maximum price you're talking $2 a day on a little puck sized device. And I said there's no way because of the supply, the supply being out there. It's called dilution. When you have an increased amount of supply that is in circulation and the vast majority of that supply is of low value, it dilutes the price. So what happens, like Leash, for example, you have a bunch of tokens that are floating out there being bought and sold at a certain trade price. You then add a whole bunch of worthless tokens to the market. They're worthless tokens. If you could get tokens for free, you wouldn't buy them. So they have no value. That's called dilution. The amount of tokens that were scoped for blockedag and I had somebody else and they said, yeah, 50 billion. I'm like, no, no, no, no. That's how much they plan to launch with.
[00:03:33] And I don't even know they're going to make that, but that's how much they plan to launch with. The total is 150 billion, three times that amount.
[00:03:39] So when they said 5 cents is the target price, I said there's no way you're hitting 5 cents because hitting 5 cents means you'd have to make that perfect $600 million, which I said you're not going to make, especially with all the damage you've done to the business.
[00:03:53] Then you talk 50 billion tokens out there, you still have over 150 billion in total, which means you'd have to do a burn just to be able to realign the value. And that's assuming you launch and that's assuming that there's significant buy pressure. There's not going to be significant buy pressure if you're significantly giving away tokens. This isn't even about the vesting. I'm talking about some of the tokens they still have locked, right? They have tokens for, you know, the, the influencer stuffs and tokens for the team and tokens for this. There's tokens all over the place that those are going to dilute things. So I knew there's no way that what you're doing is going to reach the prices that you're talking about. There's no way unless you burn significant other supply quote either they're recycling big purchases or they're well beyond the 50 billion allocated for pre sale. Pause that.
[00:04:44] So the theory there is, well, maybe they've done more tokens than what they allocated for the presale that it would go higher than 50 billion.
[00:04:52] It wouldn't surprise me because of all the bonuses that they gave away. They claim that the bonus is going to be locked up for the vesting period. So if the vote, if the tokens are locked up for the vesting period and they don't enter circulation, they could still exceed the 50. Right. Because they're not in circulation and there'd be no price impact.
[00:05:10] But that's assuming that they launch. That's assuming that they actually did give tokens, meaning they exist. So there's no way to prove it. It's locked in their tool. So that gets you very close to what PI network was doing. Right? If you had an in PI they had the same thing where stuff's locked up. They can't claim them for extended period of time. They just remain locked up while the tokens buying and selling. That is entirely plausible here.
[00:05:33] Quote I've invested in the project and I've never hoped I was being lied to so much in my life. Thank you again for what you're doing. I'm learning a lot from listening to your videos. You're much more enjoyable to listen to than a typical informative crypto content creator. Once again, that's Catherine. Thank you for the message, Catherine. And the truth is I'm pretty sure there's legit people invested in the project. That's part of the reason why I do the coverage I do. Because a lot of what you see in what enticed people to buy it in the first place is the same thing. A lot of these projects, do they count on your phone? Well, certainly so. But there's inklings of something, right? There's people that legit exist. Dr. Hurley's as legit as they come. And then in front of it, you have a terrible marketing strategy that makes no dang sense. That's what this is. So I'm simply coming and saying there's something under it. It's this marketing at the front. It makes no sense. The lockup is a risk. There's all these risks. Nobody has ever, ever said there's no risk here. But the nature of the risk is fascinating because I have no idea what it really means at this point all I can do is sit back and watch.
[00:06:40] And if it does turn out to be another PI network, which even to this day people call a scam, even though it launched and it's doing, you know, so if it turns into another PI network, well, geez, that changes the game because as I said, we have to change the definition of scam. I don't know what to think. I really don't. As far as the miners, if people are legitimately getting something from DHL saying something was shipped and they're supposed to be arriving same time as what Bapt saw, that's interesting. And then, you know, if you want to share out and see, here's an unboxing, here is it plugged in, here's it running. The only downside then is that there's no real value to them because they haven't launched yet. So what is it plugging into? What is it mining? If. If the main. Net's not existing, what is it really mining? That's the only question. So there's a risk that there is. They won't be able to mine. Like it won't even be able to power on or do something.
[00:07:31] Now what I'd be curious about, and I think Binance stuff shares this. It's like what does the dang thing do, right? We know you add it to the app. Somebody said, and they said on the AMA as well that you do have to update the X1 app.
[00:07:46] Apparently there's some problem updating the X1 app and I think it's Apple, but apparently there's some issue of people updating. I don't have the apps, I don't know. But apparently there's some issue updating the X1 app. So if you're not able to run the latest app, would you not be able to connect the x10 miner? Again, so much smoke, so much mystery, so much bizarre things going on that nobody really knows what's. What's happening and what will happen if something does roll out. There is a minor. Is it really a minor or is it just fake? Right? Is it just a nothing? It's not really doing anything. It's a, you know, like a Raspberry PI program that just emulates that it's doing something and you still aren't going to know until a main. Net's launched. That's the thing. And it would. A mainnet launches. If a mainnet launches, you would presumably get a wallet, then you could validate against blockchain.
[00:08:33] If that happened, then at least you can validate getting tokens. It doesn't verify there's any value, but you know, tiptoe. Baby steps. I guess. The one saving grace of this one, if you compare this against Shibarium, Shibarium had similar problems getting off the ground. It launched. Nobody uses the dang thing. And I said, you know what? If Blockbag is able to pull off what the Shibarium and Shib ecosystem failed to do, that would be crazy.
[00:08:58] So once again, Catherine, thank you for the message. I'm intrigued if you did get some sort of an email or text or whatnot from the DHL shipments, and we'll see if more people start coming out saying that they got their X10s and plugged it in. Hopefully we'll get more videos and see what this thing really is and what it likely could become. The mainnet launch if it ever comes.
