Episode Transcript
[00:00:00] Out of cycle update.
[00:00:06] Oh, baby.
[00:00:09] When the rug pulls win, crypto loses meaning.
[00:00:21] If you got scared, you should have known not to FOMO win.
[00:00:32] I know you don't want to admit it, but it's true. It's terribly true. CryptoTalk FM My name is Leister. I'm your host and I had a cycle update this weekend. I've got food waiting for me, so this won't take too long, but unfortunately I keep getting the question and despite my multiple times answering it seems like people don't believe me or they think I'm crazy or they think I'm an insider. I actually had somebody swear I was paid on the inside. I can assure you I'm not paid on the inside because if I were paid on the inside, you'd see me carrying a Gucci bag like one of the people who's part of this whole fiasco. This all is around and I wish I could stop, I, I. But I've got people that are asking, right? So I've got to. I said I'm going to respond because I got to, I don't want to. I've got to. And people won't believe me. People think I'm crazy. There's actually one person I can think of on the top of my head who's going to think I'm crazy or think I'm an insider or think I'm nuts or think I'm blind or think I'm stupid. Truth is, I'm a certified cryptocurrency auditor, number one. Number two, it's just I've been down this road. I've seen all of this shit before.
[00:01:35] So what I'm saying is from the heart, truly is from the heart. Passionate, true. I believe it firmly. Whether I'm right or wrong, I have no idea. I'm saying this is what I believe. I have every right to believe what I believe. You have a right to believe what you believe. Your job is to take these differing opinions and form your own. Don't trust AI because AI is going to tell you what you want to hear. AI is going to group think you AI doesn't know. It's going to guess it's going off what it sees and it's throwing out something that might be wrong and it's not accounting for all factors. Question inquiry is quote, block, dag, a scam. Part of the problem, I think, is that in the education system you're taught what quotation marks mean. They mean that you're quoting something that was stated. But it also means that you're not to take it literal.
[00:02:23] This is where I think people are having a problem. Because if you really dig into this, if you really do root cause analysis, if you really go under the hood, you will find what I'm saying makes sense. By the end of this episode, I guarantee you, you're going to double think about it. You're going to be skeptical. I'm not trying to convince you that I'm right. I'm trying to get you to critically think beyond what AI says, beyond what YouTubers say, beyond what Zach XBT said with no evidence, by the way, that rhymes. I want you to think it through and make your own opinion and then go with it. That's it. And I want to just answer the question once and for all. Is quote block dag a scam? My answer is no.
[00:03:01] Here's where we get it wrong.
[00:03:04] When we say the word block dag, what do we mean? We gotta. We gotta what called. Unpack that. As the kids say, what do we mean by block dag? There are three things termed block dagger. One is the technology. There's a blockchain, there's a staking app, there's a coin. There's all these things built that you can readily see that are readily publicly available. That's the technology of Black Dag itself. We know it exists. Right? Then there's the people, which is the active team of Black Dag itself that are working on the project. Of course, you know the CEO, you know at least one of the technical people. From what we can tell that the only ones left, we don't know on the other, you then have the entity.
[00:03:45] The entity is a different factor. We're gonna save that for last. Save the best for last. It's important.
[00:03:51] Let's go down the list. Let's look at the technology, the technology. Is it a scam? Well, in order for it to be a scam, it'd have to be actively stealing your money. To be a scam, it would have to be actively stealing your money. Technology itself cannot steal your money. Somebody has built technology with the intent of stealing your money. That's. That's people, not the tech. From the technology, I see a block dag. I don't see scam in the technology.
[00:04:16] I don't. I'll get to that. Back to that in a second.
[00:04:20] When we talk people, we now are talking the block Dag group of people.
[00:04:24] Are they scammers by core definition? We are going to talk about this. Let's go back to tech now.
[00:04:32] What's what fundamentally did was initially promised something similar to bitcoin.
[00:04:37] If you just think about that statement, you knew it was bullshit. Not that it's like they're gonna fake it out, but you're not gonna pull that off. You're not gonna pull off what Satoshi Nakamoto pulled off the same way he did without copying it. You could copy it. You're not gonna be successful at it because you're just a copy. If something like that were so simple and that's how it was phrased, that's how it was marketed, that's how it was positioned. It's easy breezy. This is all we have to do. We'll transfer our payments and all that crazy 2024.
[00:05:06] If it was that simple, don't you think Bitcoin Classic would have gone farther than it did? Don't you think Bitcoin Classic would have been more than it was? It wasn't. It didn't. Bitcoin Classic is still there. Bitcoin Classic is really the truth deal. It's still out there. Bitcoin cash is still out there. All these other ones that are essentially copies and they were not able to thrive. They were not able to get to any sort of success beyond what it was because they nothing like the real thing. The song, the real one is always going to be the dominant, was the first. It's the one that's out there, ubiquitous in multiple people's hands. So trying to take that over was going to be a failure to begin with. So right from the beginning, the plan was faulty. This was someone who had a lot of money. Whether however they got the money, but they had a lot of money. And that person with a lot of money just has lofty ideas as wealthy people do. Just like certain people on certain wrestling shows that I'm not going to name, where they just have a lot of money and they just want to kind of play around and create playboxes because that's what they do. Like they're playing in the basement with their toys. That's what you had here. Somebody who's wealthy who just wants to play. And they put it out there saying that they can do it because they got all the money to make it happen.
[00:06:17] They then bring in people who say that they can do it. This happened with Saitama. You have people who claim they could just put together a team and build a thing based on visions. But these are people that were ill qualified to execute the plan.
[00:06:29] So now we talk about there was a vision. There's a money back person. And of course there was lies, that there was that person in place, and they actually were in place, but they were told, and you were told that they were not in place. That was all lies. Okay, so you have a whole suite of people. You got crap, tons of people, and nothing getting done for high side of two years. You got to pack that, unpack that. You got to explain that how could it be if these people were truly, eminently qualified. We know Dr. Hurley was qualified. We don't know what he was doing. We don't know if he was doing anything at all. He might have just been consultative, that they asked him questions about stuff along the way. I'm talking the doers, the ones writing code. If we seriously had. And they had a lot of people remember the hackathons they were doing. There were a lot of people engaged and yet had nothing to show for it. Two years later, all of a sudden, the leaders of these people get fired. Other people take over. There's progress made, but the progress is sketchy. The progress is questionable. Exchanges are rolling out. So. So we know there's at least something because the exchange wouldn't list a nothing. But the exchange is profit motivated. This is why I said, from the technology perspective, it cannot be scammed because you look at the staking application, you can stay because that works. The claiming is broken. The some of the allocations are broken, the transaction things are broken. We got to unpack that a little further.
[00:07:48] Let's just focus on the staking gap for now. Okay.
[00:07:52] What is the staking app's purpose? Stake your coins, get rewards.
[00:07:56] It's that simple. Behind the scenes, it's supposed to be supporting the nodes. The nodes, of course, make the RPCs work. Everything else has to. It all is kind of interconnected. If the RPC is faulty, you get weird things happening, like coins appearing to go missing from your wallet, which people have reported, hey, my wallet's showing zero. Or the exchanges can't do a transaction, or people can't claim on the vesting. There's all these weird things that's all RPC related. We know the RPCs are unstable. Like that's a given. So we have an unstable rpc. We have a staking application which is supposed to be supporting said RPC, but yet the RPCs are still unstable. You gotta unpack that. Well, we can unpack that by saying if you look at the staking application, the transaction records don't correlate to the totals. In every situation, you might have staked something and that Just doesn't show up in your total or your total's correct but the transaction doesn't show at the bottom. How can that happen? If you go to the blockchain Scan bdax, Scan Explorer, you can clearly see every transaction is accounted for, which the CEO is referred to.
[00:08:56] There's no funds lost. All the transactions are on chain. Yes. However, the staking application is not properly reflecting what we know to be on chain. Why does a human have to go and verify it separately? Why does the staking app work? Okay then errors with the claiming, errors with the vesting, the vesting wallets going, getting drained with when people are off on the weekend, it's not replenishing itself. There's no sort of strong automation of things to keep things running. It's supposed to be a decentralized, well oiled running machine. If it's built correctly, that's what should be happening. That's not what's happening. We gotta unpack that. Now we get down to the bare basics of it. If you remember when they first demonstrated the staking application, it was actually an AI application builder that they built it on. So they probably built it on the AI application builder and then just deployed it as is with no core knowledge of exactly how to maintain it. This is the flaw of AI builders. It assumes at the end of the day that you know how to tweak it to get to your end result. Every AI app builder will tell you, we can't tell you that this is going to be a perfect application. We can't tell you the security is robust. We can't tell you that it's going to be a strong app. You have to go and do the rigor. It's just putting it and getting a start out and saving you some steps. But it's not going to solve every problem for you. They'll straight tell you that. So here's my gut instinct of what's happening for the technology. We're only on the technology. I haven't even got to the people, here's my gut on the technology.
[00:10:19] I'm gonna break it down and if anyone, anyone from the people, the block deck people wants to chat it out and contradict what I'm saying and you're willing to expose some code that contradicts what I'm saying, I want the smoke. But what I'm not going to do just to put it out front. What I'm not going to do is have threats and takedowns when all I'm doing is telling the truth. Because All I'm doing is telling the truth here. This is things people are already saying. This is already people saying, okay, and I'm actually trying to help you. Mother, fathers, believe it or not, on the tech side, here's what I suspect happened. I suspect they took that AI application. I suspect they kept tweaking it on the AI side.
[00:11:03] That costs money, by the way. You got to buy credits for that shit. So they're burning money doing it, but they justified it by saying, well, it's less money than it would be if we were having real developers do it. We'll have one or two developers just kind of tweak code at points in case we need to need to. But by and large, we're gonna let the app handle, like 90% of it. We're gonna save crap, tons of money. I suspect that's the conversation. They take the application, they get it to a reasonable point of stable. They take it, they deploy it, they say, okay, now it's ready.
[00:11:30] People start staking in the thing. They start detecting that there's something weird with the staking's interaction with the blockchain that's not working correctly. They went back to the AI app, and now they're using the AI app to try to fix bugs with the staking experience.
[00:11:44] That's what I suspect is happening. I suspect it's the AI that's trying to tweak things to get it back on track, and they're going back and forth. I went through this experience myself with one of the AI applications because I wanted to understand just how buggy of a shit show is this. It's bad. The application that it created, I thought was visually beautiful, amazing, impressive, to the point I said, this might be worth deploying this damn thing.
[00:12:09] But it kept doing silly errors. It's like, okay, this package isn't there. I got to go get it. Okay, I got the package. The package doesn't work. I got a triage. Why? Oh, it's because this dependency isn't there. I got to go get it dependencies there. I'm going to do a check and do all my tests. Test, pass, pass. It's a published application. It rolls the application to my, you know, review Final U. It's called UAT Final Review. I look at the application, a basic navigation. I say, okay, looks like it's fine for a basic. Now I need to add a feature. I add a feature into the damn thing. All of a sudden, the stuff that it jacked up before, it now re broke. This is the flaw of AI is it doesn't fully understand history and transactions and sdlc, which is lifecycle development, it doesn't understand those concepts because these are human concepts. The idea that what I built before should not break because I just added a feature. You need to do regression testing to make sure that what you're introducing now is not going to introduce a new bug. You need to make sure your dependencies are solid before you start development. You need to make sure your packages are complete before you add the dependencies. Like there's all these things that we know humans know that the AI cannot understand unless somebody tells it to do that. And to the point it got something wrong. It kept jacking it up the same thing three times.
[00:13:25] Then it said, you know what? I see that I messed that up three times. I'm going to avoid that next time. Then proceeded to do the same fuck up that it just did. And I directly asked it. And I quoted its own line back to me. You said, you're not going to do that again. Why did you do it again? It said, I see that I did say that and I see that I did screw that up. Okay, that's the problem. Okay, but that. Then why did you do it like you knew? You acknowledged to me that you said that you were not going to do it and you ignored your own instruction and then proceeded to do something else. When I contacted support, who, by the way, I owe a BBB complaint to, I straight told him, your AI just acknowledged that they lied to me. You're not going to charge me these credits because that's crap. And I'm not going to accept that because it's crap your tool wasted and it wasn't a lot of money. We're talking like $100.
[00:14:13] But it's the principle. I should not burn $100 because your tool is inept and feckless. Their response to me was, well, you still have to check the code. That's not in question. I'm always checking the code. That's why I'm asking for a refund. Because no competent developer fresh out of college would have done what the AI did. Period, point blank. So in my mind, as a business owner, I can easily justify staffing real human developers so I have strong oversight and I can hold them to task and fire them for their bullshit. And there is none of this BBB trusting an AI tool that's incompetent, where you can't get your money back and they can cover their ass because the government doesn't oversee it. I digress.
[00:14:54] The point is, I went to this example and the reason I explained my experience is because I wanted you to understand that I went through it myself so I could expose myself to exactly the pains and the rigors that it takes.
[00:15:05] I can get to a solid application in AI. That's not the point. I don't think it would be that expensive. That's not the point. The tool I came up with I think is awesome. At some point I would like to finish it. That's not the point. My point is simply I went through the pain of it and you have to have strong competency, not just from technology but also business, to understand what it is I'm trying to solve here. And do I think people can use this? Is it usable to people? Is it giving correct information?
[00:15:34] I have to test it. Humans must test it. Don't trust the tools, unit tests, they're faulty. A human must go through it as a customer would do. And if you see something is blatantly fucked up, you should be able to fix it yourself if the AI can't figure it out.
[00:15:49] That's why I suspect with the tech, that's what's happening on all fronts, but particularly the staking application. I think they built the damn thing on an AI application. They got it to a point, looked like it was good enough. They rolled it out to people.
[00:16:00] You basically became beta testers when they came across these issues. Remember the CEO said on the call, I want you to put tickets in if you run into problems. I think you were beta testers for the application. They collected all the feedback, they went back to the AI tool and they've been fighting. I, I believe this. They've been fighting with the AI tool to not only fix the bugs, but introduce these new things. Remember, CEO showed you there's at least five other options. You could pick which pool, you could do this other stuff that they can't get to because they can't fix the underlying bugs with the damn thing. And then meanwhile they have to remediate when somebody reports a ticket saying hey, some of my stake coins are just flat out missing. Or the things that refreshing to the point the CEO had to acknowledge that the staking application has UI bugs to the point that on their site they now have a list of three bullets where it says there's a visual bug. Now they're acknowledging it's a problem. They're acknowledging the staking application isn't where it needed to be.
[00:16:51] Okay, here's my IT 101. Here's my Business 101, if the tool wasn't ready for prod, you don't ship it to prod.
[00:16:59] This got me to my second outcome about the people.
[00:17:03] And so on tech side, do I say it's a scam? No, I say they don't have the skill sets to pull it off and they're relying on AI to do it.
[00:17:13] I'm not even going to name his name. It's not worth it. They. Because both multiple people said it, they said the future is building apps with AI so we know what they're doing. But the problem with that is that assumes you have the core competency to understand where AI fucks up so you can fix it quick and you don't go to prod until it's solid. That assumes you have core competency to test applications, do regression testing and unit testing and run it through the paces multiple times. Otherwise, why the fuck were you doing hackathons if you're not going to leverage those people who are smarter than you?
[00:17:45] This is what I'm saying. Why I say the tech. I don't think it's scam. I think they took the half ass road, they took the shortcut because they think that's the future and they wanted to try to prove it out in a real world scenario and you became beta testers. Do I think it gets there eventually?
[00:18:01] It assumes, assumes that they're going to get the competency to be able to do it faster.
[00:18:05] They might get there in a couple of years because at the pace I see and its stability right now, I don't. It's half ass. Like it reminds me of Cytomask. It really does. In terms of how rudimentary it is. Basic issues, basic flaws, basic things that should not be faulty. Because the blockchain itself is showing the correct information. It cannot be true that the blockchain is showing the correct information, but this app cannot seem to show the correct information unless you just don't know what you're doing with your fucking app because you own both. Which. Back to the people. I don't want to digress any further. Back to the people. Do I think the people are scammers? I'm talking to block that core people.
[00:18:42] Do I think they're scammers? No. How can you say that? Because if you look at the pattern. First of all, blatant scammers. The whole people's. Like some people said, well, yeah, but he's putting himself on AMA every day. First of all, it's not an ama. They're not. You can't ask him any fucking questions. The only way I can ask them questions is quote, annoying voice lady. And to respond to the guy who, who came at me about that, I didn't come up with that term. A chatter on the channel always opens up and says, hi, annoying voice lady. I just took that and said, okay, that's what she is. Because she does have an annoying voice.
[00:19:15] That's okay. You're on there every day. Who cares? The Safe Moon. John Kody, he was on there every day. It didn't really matter. Cliff Fetner, the idiot on Shinja, he was on there every day. Russ, the cult leader who's locked up, he was on there every day. Being on amas every day does. Doesn't mean a damn thing. It doesn't mean shit. Richard Hart had an Interpol notice about him. He was on every day. It doesn't matter. Ben Armstrong, accused of all sorts of shady shit.
[00:19:40] Locked up for going up to somebody's house, strapped. It doesn't matter. Being on video doesn't matter. Showing yourself every day doesn't matter. People crypto does not have strong rigor. So they do whatever the fuck they're going to do. It doesn't matter that they're showing every day. That's not the measure of it. The measure of it is simple.
[00:19:58] Do they do what they're saying they're going to do?
[00:20:01] That's your only test. Do they do what they're saying they're going to do? With the CEO, there has been delivery of things he said. The flaw of him is that he misrepresents the value of those things and he overstates, in my opinion, what the current value is compared to what the reality says.
[00:20:24] Value is determined by the ability, desire and energy to buy into your project.
[00:20:30] None of those three are solid. Certainly not the ability you can buy, but you cannot buy at any reasonable value.
[00:20:39] Why do I say that? Because liquidity is lacking. Since liquidity is lacking, you have high slippage. You have significant price shift just with small amounts. So let's say somebody said, you know what? I want to buy 100 million of this stuff. It actually would cost you a pretty decent amount of money to get a hundred million of the stuff. It would cost you a decent amount of money. Like right now, the million B dag is about 140, 150. Okay, so 10 million, $1500. Right? 100 million, 150 grand.
[00:21:13] Does somebody had the balls to step up and do 150 grand on a project that cannot, first of all, is being called a Scam all over the place, banners all over the place. You have a CEO who just says the same thing every time. You have exchanges that were doing price trickery and finagger, you have all sorts of chaos.
[00:21:30] So why would somebody, unless you were just a blatant gambler rolling the dice, gamble $150,000 on such a project?
[00:21:38] Then the visual, and this goes to the third entity, I believe. But the visual is. Well, on your own site you're selling that same for just a couple hundred dollars. So why would I go here to the Exchange and book $150,000 and I go to your site over here, just put a couple hundred dollars and get the same amount? Somebody on CoinMarketCap broke it down, which they're correct. And I'm gonna get to why I think it's a problem. Why I think it's the third entity, they broke it down that what you're buying when you buy through their site, through the so called after sale are not coins. Well then why are they called coins on the buy widget? Because third entity understands what they're doing. They're doing something to mislead people. When you mislead people about what you're doing, it's actually against the law to do that separate. Setting that aside for a moment, what the person's describing, you're essentially buying points.
[00:22:32] Points, just like the tap miner, which I wish people would stop fixating on. But for what? There's people who did want to put any money in it and they did this garbage tap miner crap. And the tap miner made promises about returns because of the prior leadership. And so now people are holding them, holding feet to fire, which I don't disagree, they should. I'm saying I wish the tap miner didn't become a fucking thing. I wish that were not a thing. And it was just simple. You buy in, you get coins. Keep it simple and stop doing all this garbage on the outlier. Because all that did is create confusion. What it actually did is it created an opportunity for what I suspect is third entity. I can't say a hundred percent. It's a theory to say, okay, well that points concept, we're just going to turn that points concept into another sales opportunity. Because what this person on CoinMarketCap was explaining to people is that when you buy on the site through after sale for something that's referred to as coins, you're actually buying points. So you're not buying a trillion coins, you're buying a trillion points. And then there's a compression ratio that equates to the actual amount of coins that you would actually be getting for the amount of money, which results in no different than if you bought it directly on the main deal.
[00:23:43] There's two buy widgets. There's the regular buy widget and then there's this so called after sale widget. And the after sale widget is nothing more than a compression. But it doesn't really do much for you because at the end of the day you're going to end up with less. I'm breaking down what the person's saying. You're going to end up with less going through the after sale than you would have done if you just did the regular exchange in terms of number of coins or through their Derek site in terms of value. But if you bought on the site with the highest value, they're artificially picking that price. They're saying we're willing to sell you coins at this price and that's the effective price where you have the ticker at the top. That's the only time that price is going to really go down is they have to be selling at the real price that they're advertising, which is roughly 4 to 5 cents. Do you understand the trickery of what I just described? If I just made your head spin, that's what they want to have happen. They want your head to spin backwards 360 to the front. They want you to be confused, they want you to be discombobulated. They just want you to dump money in it and not really worry about it. Because they've said that multiple times. You've heard on multiple EMAs, you've seen it on the sites, you've seen it on the coverages. They don't want you to think about the price of the thing right now. They want you to think about the price of what it could be. They want you to think about what the future could be. They want you to think about a world where every coin is a dollar any fucking way and it doesn't really matter. You got to have a level set understanding. The level set understanding is this. And this has no connection to Dogecoin. Because I saw somebody else say, well, look at Dogecoin.
[00:25:11] Dogecoin came out number one at the perfect time when there was nothing else like it. Number two, it has a very smart inflation strategy. Number three, it, it never promised to do anything. In fact to this day it says we still don't do, but we're here.
[00:25:26] They had a smart marketing plan because they stayed consistent with what it is. They said they were going to do and then didn't go above and beyond that. So it's not compare close. It's not at all. Blockchain made lofty promises that their ass couldn't catch. Now they're stuck trying to have to deliver. Which is why I say I don't think the people themselves are scammers. I think they're in over their head, ill qualified to execute the plan that they first came up with, burned a shit ton of money and then now they're trying to deliver what they can and try to play catch up and along the way create utilities and value that will generate some money to hopefully get it back on solvent and then end up doing what they initially talked about doing. I think they course corrected, I think they changed strategy and decided to shift gears and go a different way and then recoup and do something different along the way.
[00:26:14] Meanwhile they're having to deal with scams and all these other calls that are coming from the community of their own creation because they took the wrong path to begin with. That's why I say I don't think people is scam. I think they're incompetent, ill equipped to do this. I think they might have the best of intentions. I honestly believe that they want this to succeed. That rhymes. But I don't think they are equipped to make it happen.
[00:26:40] And, and this is just crypto, one on one. They don't understand how to manage communication, they don't understand how to manage sentiment, they don't know how to communicate and address issues in a way that increases competence. Everybody in crypto does the same fucking shit, which is we'll ban you from the telescam, we'll silence you, will mute you. We'll say don't worry about it, we'll get there. They all do the same fucking thing. That is what's causing all of these problems. And they don't get that when you do that, you're not going to get the volumes that you expect. And in their mind if we just create the widget and the widget is successful, the money will come anyway. So let's not worry about these people right now. They don't get that the people right now that are spending the negative message around to people are going to translate to those people who see those new tools and they, those new tools that come out are going to end up ripping people off anyway because there's not enough volume to sustain them because you've already killed the business before you got started. You don't. But that's what all cryptos do. That's why I can't hold it here because all of them do that. Safemoon did the same thing. Saitama did the same thing. Crypto Cowboy did the same thing. Suzuki did the same thing. Strange union. They all do the same thing. They don't want dissent, look it up. They don't want critical feedback. They don't want you to telling the truth. They call it fud. FUD is false information design harm a thing. Nothing I've said is false because you can see it for yourself to be the truth. But they don't want to hear the truth. They don't want to listen. Of a very simple way to fix all of this. It's easy to fix it. Which goes to the third.
[00:28:19] I'm not going to name the third entity. Everybody knows who we believe the third entity is. Rooted out of the third entities apparently.
[00:28:28] Whole job is to do the marketing, is to promote, to get the healthy exchanges, get on board and get the message out and get the word out to people who don't know about this shit. Okay, that's smart. There's nothing wrong with doing that. The flaw is when you do it in a way that is not accurate. That's not true, that's not clean. That's when it's a problem. So if I told you right now, I will sell you a car and I'll sell it to you for a thousand dollars.
[00:28:55] Questions you should ask me what's wrong with the damn thing. Right?
[00:28:59] Question number two. You probably should ask me, did you steal that? I mean there's questions you would ask, right? Because you shouldn't trust me. Because I'm just telling you an unrealistic price for a car, you know it's unrealistic. So you know it's probably bullshit. Either the car doesn't run, it's got some problems. I stole it. Whatever. You should be inherently skeptical. But in crypto we don't do that. In crypto we take on face that this bullshit price must be true and, and that price must be the real price of something. And that we should blindly trust this person that we've never met and don't know.
[00:29:27] Even if, let's say me, same example. I'm trying to sell you a car for a thousand dollars. Let's say you're standing right next to a wanted poster of me for vehicle theft, for larceny. You're seeing, you see a poster right there of me doing that and you're still considering buying this car from me from $1,000. Which would basically make you aiding a betting taking possession of stolen merchandise. But you're still considering it because your only focus is man, that's a great deal. Thousand dollars.
[00:29:53] This is the problem with cryptocurrency and why entities such as are successful in what they do. Because for whatever is the case in cryptocurrency, we simply do not step back and think it the fuck through and stop going off of bullshit marketing. It's frankly bullshit marketing. Why do you go off that? You go off that because for why ever in crypto you have this notion that you're going to be made a millionaire with a simple investment on only because SHIB managed to do it at a time of perfect storm. Only because Saitama managed to do it at a time of lies and deceit. Only because certain projects hawked to up because why ever people found the girl attractive Only because of Ethereum Max because of Kim Kardashian flashing ass like this is what we're talking about.
[00:30:37] What we're talking about is a culture and it's culture. And of course the root of culture is cult where people just simply go off bullshit marketing and bullshit pricing and think that they're going to be made a millionaire because of Foley prices. That's what happens. That's why I had to make sure I was clear. I don't think the tech is the problem. I don't even think the core builder team, the main team is the problem.
[00:31:03] Everything is around the marketing and it's misleading and it's misrepresented. And when you do that, it, it's very, very close to scam. Not in the sense that the tactic itself itself is not scammy. Because it is. I'm talking is the direct intent to take your money from you because it's malicious? No, I think the intent is to get as many people to buy in simply because they think it's going to sustain what this corp team of people has been tasked to do.
[00:31:31] So if you think of it in reverse, I'll use the house analogy. It would be like I'm trying to build a house, right? But I don't have any fucking money. I got no money. But I want to build a house. What are you going to do? You got to generate the money somehow. So you go out there, you find a bunch of people, you put the numbers together, you all sit and you crunch numbers. You say, okay, in order to build this house, I need $500,000. Okay? So I'm going to find five people, each of you. I need you to generate $100,000 for me. However you do it, you choose to pick four women in one. Dude, why are you doing that? Because you know those four women. Yeah. If I put you on the street, you're probably going to make me a good hundred thousand dollars real easy.
[00:32:11] I don't care that I'm pimping you. My goal is to get the house built. So I'll do whatever I got to do to get the house built. And you'll get a little money, you'll be able to keep a slice of that because whatever you make above and beyond $100,000, you get to keep that money. That's what's really happening. You are basically the whores for a pimp. The pimp is trying to get money and help and you helping generate the money by way of you buying into something that helps them get on exchanges to entice more people to buy in again.
[00:32:37] That's what I suspect is happening. Not true scam. I'm talking true legitimate hundred fucking percent scam, which I argue is Saitama. Best example later, Cytochain. What did Cytochain do? Cytochain said, okay, we're going to evolve and be a blockchain and we're going to turn into Cyto Realty and Cyto Logistics and create this whole ecosystem having no background in any of that shit, having no background in logistics, having no background in Real Realty. There was no background in any of that stuff. They just felt they could do it because they had billions of people's money. And then what happens? The FBI cracks down and locks them up for doing market making, fake wash trading, bullshit marketing. That's what it was. And that's why they went after them. They went after them because they understood that everything that was being claimed, it's lofty and bullshit. And so they felt they had an obligation to do that. And that's the risk that you have here. In summary, what is quote Block DAG without picking any one entity? Because it doesn't really matter. But my summary thoughts are very simple. Block dag, quote unquote, is a grossly, grossly mismanaged, over budget, understaffed, overallocated, underfunded, outlaw mud show, poorly marketed playground that lacks a true identity, is just throwing shit against the wall, hoping it sticks while hoping to get more money in to support everything that's being built very close to a house of cards. I feel like it's the aew, a cryptocurrency. You have a Project angel funded by somebody who's essentially a money mark. That person hires other people. They're incapable of any sort of delivery. They don't have any strong track record of business success. Notice I didn't say they didn't work in business. I said they have no strong track record of business success. Because they didn't then those people are out. Now they have other marks that come in there.
[00:34:29] No track record of technology success. And no, I didn't say they didn't work in technology. I said no strong track record of technology success.
[00:34:37] And worst, these people are tone deaf to resolve basic problems when we're trying to present. I say that I straight up say that I believe that firmly nobody will change my mind because I'm watching what I see and I see ill equipped people. That's what I see. I see lofty bullshit visions. That's what I see. I see marketing designed to just get people to buy. That's what I see. I don't see in intent of scam. I see somebody just says, I think we can do that. Having no game plan to do it. And they're just kind of going off the weeds and they're relying on AI to do. And they don't have the competency to correct when AI gets it wrong. Like if you had really brilliant people on the damn thing, you might have actually turned it into something. I don't think we had Dr. Hurley. We don't know what he was doing. He certainly wasn't writing code. They probably were just leveraging his assistance and guidance for stuff. I don't think they were heavily using him for coding. I think they were using like the hackathon people and everything else. And then all that washes away. Well, what do you have left? You have just a slim team who's heavily relying on AI because they were sold on the bullshit narrative that AI can build anything when it can't. You still have to have people with core competency do it. And you have to have business knowledge to be able to pull it off. And I see lacking in every regard.
[00:35:55] You're like, how could it be underfunded?
[00:35:58] Collection of money does not equal accounting of money. It doesn't equal allocation of money. It's underfunded at multiple levels. How can it not be when you did not fund Inter Milan, you did not fund Borussia Dortmund, you did not fund Alex Pereira, you did not fund Alpine, it's under funded. It doesn't matter how much money was brought into my analogy of the pimps. And it doesn't matter if the brought in that $400,000 was expected, but the pimp turned around to use that money to buy a fucking car, a Bugatti or something.
[00:36:33] You didn't get the house you were intended to do. So. No, it's underfunded. Do you get it now?
[00:36:40] Do you get where I'm going? I say it's underfunded and I say it's a shit show. And I simply think you're dealing with people didn't know what they were doing.
[00:36:48] And some people have the best of intentions to try to course correct it, get it back on track.
[00:36:53] But by now there's been so much damage in terms of money, damage in terms of time, because you can't get some of that back. You're talking the quantum now, coming up, that's causing negative sentiment. You're doing the stuff right when bitcoin is roughly half of what it really should be priced in the. In the bull.
[00:37:10] You're doing all this stuff at the wrong time. That's number one. Number two, you're appealing to people that were excited in 2021 with all the stuff you're doing right now. Number three, you're dealing with tools that are a buggy show.
[00:37:22] Number four, you're doing messaging. That's not an ama. Number five, you're not specifically addressing the things that the community has true concerns about. And that's not the tap miner. That's. That's the exchanges. Because the exchanges, almost to a T, have now exposed that there's a lack of liquidity that rhymes. So since these are not being addressed, and since they don't want to verbally directly say, we are going to reach out to the exchanges to get them back on track, we're going to halt this because we clearly don't have the staff. We're going to hire more people to come in here because clearly the AI is not working. Like, there's no direct intent shown to get it back on track. Everything is just a shit show. And I'm saying to you right here, right now, that's the song.
[00:38:01] I believe it's born from over reliance on AI tools to do shit where they don't have the core competency when AI gets it wrong, which is slowing them down and creating unnecessary pressure on the project and a lack of desire to speak to the true issues that are out there, and a lack of desire to fix the existing exchanges and just relying on more volume coming in from all these other avenues and trying to appeal to. To the Binance and the Coinbase and the Kraken. Of the world and crossing fucking fingers hoping shit sticks. That, ladies and gentlemen, boys and girls, children of ages, hopefully over ages of 18, is my bottom line summary of what I think. And when you ask me the question of whether quote block dag is a scam, you have to unpack it. You've got to unpack each component. Because when you unpack each component, I almost guarantee you're going to come to the same conclusion I did. You're going to come to the conclusion of incompetence. Blatant incompetence. People don't know what the fuck they're doing.
[00:38:54] Not. That's not sc. There are scammers that know exactly what they're doing. Effective scammers know exactly what they're doing. We can say that third entity is a noted scammer. Is he really? Because if we say that's true. If we say that's true, that means hawk to a girl must also do because she did the same shit that this other did with a crypto. She just got off. They let her off. Why did they let her off? Because she just put her face on shit.
[00:39:22] Floyd Mayweather, Kim Kardashian. They were directly promoting a scam, a pump and dump scam. They paid a fee and they're off the ducks. Why? Because you got to understand the way the game works. The fact that you lost money.
[00:39:38] The fact that you lost money. I can go down the list. Every single one of them that's not a main coin has caused you to lose money. Every last one of them, including Richard Hart.
[00:39:50] Every last one of them has a reason why that would happen.
[00:39:53] All of those reasons circle back to the same center. A lack of real vision.
[00:39:59] The vision fails. It fails because crypto's fickle. Crypto's fickle because people have been taught that you can put 10 bucks and become a millionaire and gamble on shit. Instead of focusing on that thing. Devi another project that stated it's going to do all this magical shit and do all then r rumors about nasdaq. And now look at it.
[00:40:19] Terrarium doctors come together. We're going to create an exchange.
[00:40:23] Now look at it. Lillian Finance. We're going to create medical blockchain technologies and we're going to save kids that need it. Now look at them. Saitama. We're going to change finance. We're going to change the game. No more gas fees. Now look at them.
[00:40:37] Do you understand this is not exclusive to these guys. If anything, let's be. Let's be honest here. And I'm Closing up. If anything, we got to really unpack the difference between this and other ones. There's one main difference that everybody's ignoring between the two.
[00:40:56] This project, every step of the way, every step of the process, all along the channel has been consistent with at least one thing that they said.
[00:41:07] The one thing that they said that they all have been consistent in messaging is that they want to try to compete with some of these other chains that.
[00:41:19] Think of what that means, competing with those chains.
[00:41:24] It's not easy.
[00:41:26] It's. It's the hardest thing to be able to do.
[00:41:29] No different than it was for Solana to compete when it formed. And people say that. They say, look at what Solana had to do.
[00:41:38] Solana took a long time to be embraced.
[00:41:41] My messaging to anybody in any of these three areas of quote block, Dag, who might be listening.
[00:41:48] The reason that you are not on Solana's level.
[00:41:52] Solana, at no point, at no point disregarded, misrepresented, or over presented what it was planning to do.
[00:42:01] It gave a message about what it wanted to achieve.
[00:42:05] It worked to achieve those. It stumbled along the way. And when it stumbled, it owned it. And it said, we fucked up here. We got some changes to do.
[00:42:15] Got to the point where it no longer is having those random outages that were affecting it. Got to a point of strong stability, unfortunately got infected by Pump Fun and has now lost credibility. It lost credibility because what then differentiated it from BnB? BnB has always been superior for memes.
[00:42:35] Always. It still is. Look at BNB's fucking price compared to Solana's fucking price.
[00:42:41] What did Solana's embracing? A Pump Fun and it's descend. But the point is, what did that get them? Nothing. Not a damn thing. Because bnb, to this day, it's still higher value.
[00:42:54] It's still higher value.
[00:42:56] BNB created a strategy that started with BEP way back. The Beacon chain, eventually does smart contracts, has never looked back, and has done everything it could to do the one thing you guys refused to do, which is wormhole. Embracing those chains, embracing that traffic flow, enticing them to get on board and interchange between two. PulseChain did the same thing.
[00:43:26] Your biggest gap is your isolation. You isolate price. You isolate trade. You isolate Dex, you isolate liquidity. You're isolated.
[00:43:36] You might say, we're getting there. I say to you, Pulsechain launched with the.
[00:43:43] You have no excuses. I don't accept that. You have no excuses. You say, dag, Deep. Deep. Any blockchain can do what both Pulsechain did Because remember, Pulsechain was born for people that had way less technical savvy than you started with.
[00:43:59] I don't accept it. I say you lack the skills to execute what you say, what you think.
[00:44:06] And you're trying to cover your ass with communication and progress.
[00:44:11] For that at least I'll give you some kudos and I'll watch.
[00:44:15] But along the way, I'm saying you're falling behind, ladies and gentlemen. You're falling behind of your own.
[00:44:24] It's on your own. This is. This is your doing.
[00:44:27] You're. You're not going to catch up because everything else is going faster than you.
[00:44:32] They're going faster than you.
[00:44:34] You gotta have real human people. You cannot do a skeleton crew and pull off what you say you're trying to pull off. You can't. You'll say, we got this stuff done.
[00:44:46] Look at where your staking app is.
[00:44:48] Look at where you said it should be.
[00:44:51] You should be ashamed of that.
[00:44:53] You should be ashamed of that.
[00:44:56] You can disregard and it's cool. I'm just one person. I'm trying to help you mother, fathers, but it's cool. Disregard me all you care to.
[00:45:03] I'm simply explaining bottom line.
[00:45:07] I don't see scam, ladies and gentlemen. I see incompetence.
[00:45:11] I see ill equipped outlaw Mud show not ready for this don't understand the business really had every opportunity again. I keep saying geez, if I had. If I had the ability to leverage what Libero offered up front front with its concept, with the blockchain concept. You're changing the game because nobody's ever done it then or since.
[00:45:39] And these guys just completely lost the plot in my eyes. Does it course correct? I have no clue.
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