Episode Transcript
[00:00:00] Speaker A: Out of Cycle Update.
[00:00:03] Speaker B: Previously we had one COIN that really didn't have utility. The main purpose of Jasmy Coin, I think was to raise money for the company, for the device makers. But again, they've always needed to bridge that gap and I think that's a challenge that they've always had.
So I do commend Harison's efforts for trying to marry them up and to make them work together.
And Janction, as he said, is project that has been incubated by Jasmy.
[00:00:33] Speaker A: So you heard it from the horse's mouth, now let's dig into it. CryptoTalk FM My name is Leister, I am your host.
I have not followed Jasmy close.
I've observed it, but I've not followed it close.
To preface, the first time I heard about Jasmy was, and I want to say it was.
I don't think it was Bitboy. Somebody was just all over the moon about freaking Jasmine. Oh, it was Del Rugpole, AKA Del Crypto. He was the one that. He was all in Jasmine. He's all in about it. All the. And then I can't remember who it was, but somebody on YouTube kept talking about how some Japanese organization, they were going to use the Jasmine blockchain technology to run their operations. This audio that I just played, this was brought to my attention on CoinMarketCap. By the way, this was an interview.
The YouTube channel, if you want to check it out yourself, is Crypto Future with a space in the middle. This was on January 24th and it doesn't have a lot of views, so I don't think he has a lot. He has a lot of subscribers, but I don't. It feels like the sentiment of Jasmine dwindled. I'll talk about that in a second, but I think it's worth the listen. This comes from Haru San, I believe is the name Haru San is representing and I don't follow it, so it's possible I get some of this wrong. But I believe he represents the Jasmy organization that's kind of behind this. Now, what I gleaned from this, and if anybody has insight and more clarity, because you're in the project and you'd like to clarify points, please, CryptoTalk FM hit the contact form, let us know.
You know, clarify, add, supplement, whatever you choose. But what I gleaned from this is at some point there was some idea to do the Jasmine chain, which needs the Jasmine coin.
And when it launched, if you look at coin market cap, it says $5 is all time high. To me that's the liquidity load. I don't think it's a legit because the graph says, says about two, three bucks.
Regardless, it did a pump and dump. Pretty aggressive pump and dump and now just over half a penny in its price.
And people have speculated, not me, others, that Jasmine was a rug pull. Jasmine has pretty much printed out or minted out all of its tokens so I didn't see a like a extreme dilution issue.
But I don't know enough about the token supply at the time. I do know that Jasmine by and large has not had a significant volume compared to the other tokens that were out there except during the cell periods. This tells me and I again, this is why I'm it's an impassioned plea. If you have this background and the history, I would love to hear that. But when I look at the graph it almost looks like there may have been some sort of a distribution or pre sale that took place place because the vast majority of volume is on the sell side, not on the buy side.
Usually that means tokens were given to people. Whether that was by way of some sort of mining or some sort of distribution or some sort of pre sale, I don't know any of that is or isn't true. I'm going off the date I saw back in 2021 and I remember 2021 being kind of that dull period, the start of the dull period and then later after binance.com actually added Jasmine to a flag list in 2024 over concerns with the project because of the. The pump and dump being so aggressive.
So this Harasan, essentially what he said was that the team at the time took coins and they were dumping on the project to fund the company is essentially what he's saying in this interview.
Well, how is that any different than any other crypto out there? Right. And that is essentially a rug pool. A dev makes money available and then makes it not available.
Effectively what he's saying here is well yes, that happened. Then there's this other token. Apparently they're going to spin up and then try to marry the two to try to make it right for the Jasmine holders. That's kind of the gist of what I'm getting out of this.
How is that any different than a Ponzi scheme? Because you're taking money from Project A to enrich this other thing over here and then you spin up another token as Project B. That token wouldn't have existed if you didn't take money from Project A that's a Ponzi scheme.
So it didn't strike me that he was malicious. It didn't strike me like he was a criminal. He's on the video he seems like he wanted to be transparent, but it just seems odd that so much in that he's. He's honest. Right, but how can that be that nobody stopped and said this doesn't feel right, folks, that we're just taken from these people and we're not having anything to show for it. And all the rumors about what Jasmine was going to do, I remember, I remember looking at the site and it's not even in English, but I remember looking at the site when people were telling me this is going to be paired with the Jasmine blockchain. It's going to do all this XYZ and it's going to skyrocket the Jasmine price and it's going to over.
It's very similar frankly to Block Dag in that regard. I'm. I'm stunned though that it got so bad and then their answer, they acknowledge basically taking the rug, pulling you openly, essentially admitting that and then they're going to launch another token which is basically a Ponzi scheme to try to make it right.
I have no call to action for folks. I'm sharing what this person saying on this video that I encourage you go watch yourself to put make up your own mind. If you're in it, you're holding it. I think it's worth you to hear this because I don't know enough about the history of it to fully grasp how it got so bad. And it may be that the vast majority of people got out of it, but I, I do know that the holder count for Jasmy has dwindled quite a bit over the past couple of years.
So it may simply be that people got out of it.
But I'd like to hear from anybody who has more insight and knowledge as to what got you to this point.
I'm going to stress if you're in it and you have an interest in it, I stress, please check out Crypto Futures Channel, please check out this interview and I would absolutely love to hear your thoughts on what's being said and from what you know of the past.
You know, is this person legit? Is this person feel like they're trying to scam you? What is your pulse given everything you know about the project to date?
