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Episode Transcript
[00:00:01] Welcome to Crypto Talk radio, the podcast for everyday investors like you. Visit us on the [email protected]. And now here's your host, Leister. Thank you for that, Bailey. And welcome everybody out there in crypto Talk radio. Found at why? Why?
[00:00:21] Wonder why? So today is an interesting day in crypto, folks. It's an interesting day for multiple reasons. I may depress some people. I don't want to. It's not intentional. I'm simply a realist in this regard. I want to give you a personal story. I think it may set the stage for what my life is like. So my endeavor off the side that I do and for you that are new, welcome. By the way, my name is Leister and I am your host and I'm going to tell a personal story up front as I normally do. I have an endeavor. It pays me very well. It's where my money comes from. I trade cryptocurrency, but it's not for the intent of getting wealthy. It's simply because it intrigues me and it fascinates me. There's an aspect of that and then also just the watching price movement for various tokens. It's not the get rich quick scheme for me, as it may be for some other that are gamblers. It's really just a side thing that I do. The podcasts do not make significant money off of it because I don't actively advertise or promote. I talk about the triad, which is the membership program, but it's just there for people that find interest or want to support the show. We also have the tip jar. We have other ways for people that want to support, but I'm not one of those who actively shills to try to get people like subscribe, click the bell to whatever the fuD. I don't do those, and I don't do begging somebody to support because I don't really need it. If somebody feels they want to do it, I want them to do it out of their own feeling that I'm just that dang good that I'm worth doing it. And then the money always goes to a good cause. Like for example, for those that do subscribe to the triad, the money was invested back into our web services that we have to sustain all of our different things. Didn't need to, but it helps offload some of those expenses. So great on those. And I did form a business and all of the expenses are now being transferred over to the business conduit. Now I have to transfer the inbound triad over to the business conduit and then I'll just set up and schedule and forget it. So for those that are triad members, I want to thank you by the way for sticking with me this long. I do appreciate it. For those that are listeners of the show, I appreciate you as well. All I would ask for me is spread the word. If you think that I'm better than the rest, period. Listening. Spread the word. Hey, quit listening to those damn shillers out there who are telling you that bitcoin's dead and bitcoin's toast.
[00:02:46] Quit listening to them. Listen to this guy. He's level headed. He keeps getting it right for whatever reason. That may be because he's conservative in his approach. So I would appreciate that. Just spread the word. That's all. I don't ask anything else on the other side, my endeavor, getting back to that so we had an update. So they're pushing windows eleven and I have windows eleven on a different machine that I bought and I bought that machine to replace another dying machine. So it's the first taste of windows eleven and I think it's crap frankly. But in this case for the endeavor, it's a work environment. There are legacy tools and there's all sorts of compatibility potential problems where I'm always sensitive about disrupting the customer and I don't want to break them for something where we don't need it. We don't really need windows eleven. Nobody needs windows eleven. Microsoft is going to support Windows ten for at least the next two years. So it's not really urgent to go to Windows eleven. Mind you, I had already told them though, we've done our testing for one side. Go ahead and do the update. Apparently they didn't listen to you guy here because I just got asked earlier well, are you ready to do the eleven DT? I'm like, what are you talking about? I said it's fine to do that. I said that a month ago. And for me mine will be updated by the end of the month for sure because I was waiting to see if there's any other lingering bugs because I'm very conservative and I get called into a call because apparently they don't understand when I say where is it to come down to my mouth. When I say mine should be updated by the end of the month, they can go ahead and force whatever they want to do. Like isn't that pretty clear? Go ahead and do it, I don't care. But mine will be updated by the end of the month anyway. So what's the rush. Why does it ruin a call? Why do you have to call me onto a call? Why is it that you don't understand? It's because people aren't listening. Because we talked about this last month. That's my frustration with the endeavor, is that the one person in this case, there's a couple of others, they're gone. Now we're stuck with this one person who unfortunately is the conduit that is dealing with like 20 different things. And so they're not listening and they suck at email. And jeez, it's just one thing I can't stand, it's people that suck at email. Because email is the easiest thing in the world. Chats, folks. So that's my world in the personal side. And as a result, I was looking forward to talking cryptocurrency with you. Today's episode will be roughly the normal length because I do have my noodles and company waiting on me to eat it. So let's get into this real quick.
[00:05:08] You of course, I am starting with coindesk.com, as I tend to do, but you've probably already seen some sort of an article or some tweet or something else spinning around talking about yay. Ethereum finally passed the $3,000 mark. Indeed it did. Over the last 24 hours, there's a significant surge. If you zoom out to the month chart, you'll be able to see visually this play out. But there was a significant surge at the very late game early this morning. A low of 2800 ish, a high of 3000 and a little bit of change. That's a pretty interesting spread. And what it basically told us was it was the last push that we needed to get over a threshold and create a new line of resistance. Now it's going to take a little bit more to go anywhere higher. Do I suspect we go back down? Probably a little bit, but not significant. We're currently hovering about the 3000 mark as I record this. So we're holding steady and there's positive traction, at least in the direction of Ethereum, specifically on the bitcoin side. It also had a run a low of 50,700, a high of 52,900. So just roughly about the same spread. But what I noticed on the Ethereum side was that there was a lot more buy pressure on the Ethereum side and less so on the bitcoin. Not to say that bitcoin was going to go down or crap, simply that Ethereum seemed to take the vast majority of momentum. This is in contradict to some of the online sources that may have told you that people are going to be ignoring Ethereum because of the gas prices. I have an update about that here shortly. Ethereum is one of those that's ubiquitous. If you don't know the word, I'm going to help you. Ubiquitous means that it's kind of everywhere. It's kind of just the given the norm. Remember there was a time when people said that Ethereum was going to take over for bitcoin. Bitcoin was going to fall off, bitcoin was going to fail, bitcoin was going to suck. We're not at that point, and that was not realistic. But what we did see is Ethereum basically take its seat at the head of the table of the so called altcoins. It doesn't matter how many people are shilling pump and dump tokens on salana. It doesn't matter all the new pump and dump tokens showing on filecoin. It doesn't matter about the run up of Tron very recently, which I'll briefly talk about here shortly. It doesn't matter about BMB's price going up over 100 more than what it was. None of that really mattered because the king is still there. Ethereum is still on that throne. Ethereum is still the head of the table. So as we now are serving the people sitting at the table, bitcoin is partaking of what it's getting and it's going on a very steady climb. As we recorded, and I was noticing on the ETF side, it's in a healthy state, but it cannot be ignored that ethereum is also eating. Now I said, and again, feel free to quote me. I'm on audio, so if anybody contradicts, and I'm sure there will be some, but feel free to quote me. As I said, I believe that what's happening is money is flowing into the alts first and then going into bitcoin off the profits they make off the garbage tokens and the altcoins. I think it's going the opposite direction. I don't think it's going from bitcoin to the alts this time. I think it's going from the alts to bitcoin. Because remember, bitcoin used to be like $16,000 and many people didn't buy in at that point, either because they didn't believe in it or because we drove people away. Because of all the kids to say the word jeep and say the word keck. They were all over the place. Now they're saying it's over $50,000 and they can't justify tossing that much money at it. But they want to get in somehow. But they can justify tossing $100 or some pump and dump dog coin that might ten x and make them $1,000, and then they toss the profit over to bitcoin. If you think about it, that's actually a very brilliant trade strategy for those that choose to do that. So I'm not going to tell you what to do with your money. I cannot do. I'm simply saying that my theory and I maintain it. So I'm on record. Anybody can quote me, if I get it right, to come back, get my credit. But I'm saying I think people are going to the alts first. They're making quick bucks off the pump and dump. They're taking those profits, they're spinning back to bitcoin, which would explain the slow rise of bitcoin as compared to some of the alts that are on the rise. But if you look at across the board, you're not seeing significant jumps across all of them. Phantom had a little bit of a run. It didn't last very long. Maddox is running as I record this, it's not a strong run, as you might expect. Avalanche actually didn't run anywhere near like I thought it would do. Solana has settled down. It's lost almost all of the momentum. Not all of it, but almost all my row, the garbage it crapped ever recently, do I think it'll recover? Probably bonk. Same thing. So I suspect that people are just simply robbing Peter to pay Paul as they're jumping into these garbage projects, using all of the profits to then buy into bitcoin on the other side. That's a theory. I can't say for sure that's what's happening. That's my theory on the matter. So what I'll say to you, because I can't tell you what to do with your money, I will tell you, if you're invested in any of this stuff, whether it's a garbage or it's not a garbage, make sure you're taking your profits. You deserved it. It's been a long time since you've been able to take profits on a sustained basis. This is the right time to do it if you are buying into these tokens. S speaking of the Ethereum, I want to talk about something that happened very recently that affected the gas prices on Ethereum. If you had done any trading, you might have noticed some temporary spikes. There actually was a specific reason that was not related to the bull run. What happened is some people got very curious and what they wanted to do was create a single token that could serve the purpose of both a fungible token and a non fungible token. A non fungible token is otherwise known as an NFT. A fungible token is the token you would buy or sell or trade like any, like a myro or shib or anything else, as in fungible, meaning it's asset a. It's not unique to you. You wouldn't have just one that's uniquely placed, like an NFT that is uniquely placed or at least should be. That's the biggest distinction. They're trying to create one standard that covers both types of tokens. When this was rolled out, it was rolled out as a proof of concept. It was rolled out as just source code that was made available publicly on source pools. People got a hold of it and they started toying around with it to try to see is there something to this? Could this be something for the future? A lot of developers really didn't like that this came out and the impact that it had. If you don't know this, it's called the ERC 404 standard. It is not an officially recognized standard. It's expected that it won't be, but it might be. But there was an offshoot standard that drove most of the traffic that I'll talk about here in a second.
[00:11:24] So when this ERC 404 gets released and they're playing around with it and causing an impact to the network and the gas prices spike, some of the developers came out and they had to clarify that ultimately it was open source code. We didn't intend to have it be official yet because we're not ready. We're just kind of toying with stuff. If somebody tries to sell you one of these, it's a scam. Bottom line. So that's my warning to you as a public service announcement. If somebody sells you on something that tells you that it's traded like a token, and you can hold a bunch of them like tokens, but it's tradable like an NFT, it's probably a scam, and I would advise you to ignore it. The other standard that they're working, that they consider more likely to pass is DN 404, which is essentially the same thing, but it uses two separate contracts instead of the single one, so that everything maintains a separation which I think is much more robust and more reliable in the long term. Mind you, neither of these have been acknowledged by the Ethereum. Foundation, yet it's descend decentralized, which means that nothing's stopping somebody from spinning up a token off of what was put out there in source code. That's the problem with the openness of source code. Putting it out there means anybody can deploy it as a smart contract. That's the whole point of cryptocurrency. The downside of this is that you are then left open to scams. And so that's why it's really incumbent on people like myself, some of the influencers, and I know they don't do this, but they really should, some of the influencers, to help keep you safe by warning you when these things happen, that it's probably a scam and helping to keep you safe, as opposed to possibly exploiting you over something else.
[00:13:01] And I'm going to talk about a couple of different projects. The first one I'm going to talk about was new, brought to my attention that just. It was interesting in what I saw, if you know, Telescam, and of course, Leister doesn't do Telescam, but telescam is essentially, I want to say it's a copy of what we used to have in the olden days of IRC. And I say that because the concept of it basically copies everything that we did in IRC decades ago. There's nothing wrong with that, except that they then butchered it to turn it into a playground for censorship, a playground for muting, a playground for anonymity in some cases, and a playground for so called illicit things. And I'm not even just referring to cryptocurrency. There's a lot of shady business that happens in the telescam, which is part of the reason Leister doesn't go there. If you knew some of the shady crap that goes into telescam, it would probably turn you off, too. I'm not going to disgust you with it. It's up to you. If you want to do that search, I don't recommend it, but it's up to you. But I saw this new service called Beable. So as in people, it's bealable bees instead of peas. And what it's trying to do is create, and this has been tried before. I covered a project ages ago, and I'll dig it up and maybe remaster it, but I covered a project ages ago where it was trying to create a contained ecosystem. You had chats, you had file transfers, you had instant messages, all sorts of stuff in one ecosystem. I said it wasn't going to succeed because it's too contained. You got to have some freedom of exchange outside of your bubble. This biobal takes just mostly the main things people care about. Instant messaging, which is just regular chatting back and forth to people. I don't know that that's a killer application, but it's something to think about. Wallet capability. So think about the intersection between instant messaging and wallets. The idea of being able to simply exchange tokens between a and b without having to type in a wallet address or scan a QR code. Dapps, which is of course, all over the place, but they're trying to put it in one contained space so that they're properly vetted and then having more people. Community concepts. Community concepts aren't new. Facebook built theirs, x built theirs. It's not a new thing. But nobody's been able to entice people to get into kind of the collective concept online. I blame social media in general, but nobody really wants to congregate like the old days. We would get into chat. IRSC was a great example. We would get into chat together. We would spend hours just chatting and talking, and it was a great time. Sometimes we would get on the voice or get on the video because we actually wanted to talk to people, unlike the text messaging garbage of today. So this concept from viol was intriguing simply because it's trying to bridge the gap between what people currently do and what they'd like to be able to do, which is have one place to do everything. Do I think they'll succeed? No, but I think it's interesting to take a look at and watch their development. So I do plan to watch their growth and see what happens here. It's backed by a pretty strong team. You're talking people from Goldman Sachs, people from Citadel, people from Morgan Stanley, the gaming.
[00:16:11] So you have hard hitters behind it. That's another reason it caught my eyes. You have at least hard hitters behind it that potentially could take some of the failures of their leadership and turn them into something in the future. So I will be watching it. It does have some seeding going on. It's got a lot of angel investors going on. Like hash key is a big one. Samsung next was interesting to see over $7 million of venture capital funding, so I'm sharing this because it's something I'll keep an eye on. I didn't see significant hype yet, but I'll keep an eye on. The only thing I didn't like is they did plan to do an airdrop. That bothers me, but it is what it is. I can't tell what to do with the project now. Speaking of projects that are doing bad things, I'm going to talk about for the remainder of the show a project that at one point was in my phase five. It was near and dear to my heart, and it let me down because apparently they had a people shift. I was not in the ecosystem, so I can't say exactly what happened. All I can do is talk about the voice of the investors now, the price now, which is validating what I said to be the truth that nobody believed. [email protected]. That I'll now talk about in a little bit more depth. Everrise. Everrise people was one of the most beautiful projects, and it still exists. I say was, but it's because its shine has lost its luster. It's not there anymore. But it was one of the most beautiful projects ever created because they were doing so many things outside the crypto bubble at some point, here's what little I do know. At some point, they had a shift of people. The shift of people led to the departure of Jen, who was on the marketing side. Ever since this shift of people, they've never been the same. The marketing is not there. Everything's just gone in the crapper. And to level said ever rises of e three. So they had done multiple migrations. And anybody hearing me for a while has heard me say I've yet to see a project go past, do a migration past a v two and survive. It's just what it is. You lose the investors confidence. I think they were smooth migrations, but I think people lost too much. And that may have turned people off. In addition to this people shift, in addition to activities and telescam that I'm being told about, but they took away. So ever rise. The whole point of the name, the whole point of the logo, everything at one point was hyperburns, burns, burns, burns, which was contributing to a positive price movement. And it had a lot of hype at the time during one of these migrations. And I think it was the v two migration where they killed off the burns. So they're no longer doing burns. They have the supply. They're expanding to multiple chains. They're on five chains. So it's not that it's not available. It's not that it's not accessible. And then they have all these amazing utilities and the whole nine. The bottom line is that everrise stopped. They stalled. I don't know why. And then these everrise bots, riser bots, garbage comes out and anybody's listening for a while heard me say, I think people are tired of nfts. Well, if you look at the chart right now, the chart right now looks like garbage. This again was a very beautiful freaking project, and I'm disappointed to see what has happened to it because it feels like a failure of leadership. This only had two zeros in front of it, millions in volume. It was jumping. And mind you, everrise was the definition of descend. They never actively went after the exchanges, never actively did. They were pretty much just decentralized from pancakeswap or uniswap or Trader Joe on the different chains that they're at. But they didn't really go against the different exchanges, which helped stabilize the price to some degree. I think what's tended to happen is they've lost the appeal to people because they took so much away and the various migrations and the shift of people and whatever the hell is going on in telescam.
[00:20:10] Well, I noticed now in coin market cap community, the calls of scam are increasing rather steadily, I would say on a pretty consistent basis. User pezzo quote, best scam in the world userdom.com quote, did feel great about it until I visited a telescan group for the first time in a year. So that's another point. Many people dial out because they don't live online. They're grown ups. We don't live online. We don't live in the bubble. So telescam expects you to basically just leave it freaking running and whatever. Like discord, right? Leave it running. People are always logged in. People have lives, we have jobs. Most of us do. So it's not reality. So that's why you need to update your website with critical information and things. And everrise is doing that too. They stopped doing any significant updates since July of last year. Well, that's terrible. And the update that they did wasn't really that big. They did one about trust and everrise. That's not relevant. Like, there's not significant communication coming from them either. And as a result, people are seeking information and they're falling out of the loop. Quote, mods were over aggressive and then kicked me out. Not the culture that they had been a holder since launch, but now going to sell. Sad. So again, I don't go to tel scam. I do know that multiple people have talked about how the mods and the devs seem to be a lot more aggressive, and that's a symptom usually. I'm not making a claim, by the way, don't come at me, but usually that's a symptom that a project is failing and they're getting frustrated and they're going to give up soon. I hope not. But without some serious shifts in their leadership, I don't think they're going to get it back on track.
[00:21:55] User Yogesh quote, rise has developed nothing eye grabing product since Rise arise. I don't know what Rise arise is. And on top of that, rise got poor marketing and management team. If Rise want to rise, rise should come with some original product which attract. That's the spelling. The investor, it's a scam. The founder put thousand dollar pump and then dump make Penny and happy to see I make penny. So what he's referring to in this situation is wash trading. The idea that you're putting money in to fabricate traffic. You'd be surprised to learn probably how common this is. There actually are services out there for wash trading.
[00:22:39] What happens? And this is another public service announcement to you guys, because you may not know, you may not realize it. So let's talk the scenario. There's some new project, there's some new token out there, and you go on YouTube and YouTube is algorithms, it's feeding you some youtuber. It's probably Rodney cryptojurdies or somebody else that's prone to do this, but they're telling you that this guy's going to go to the moon. This is the next 100 x thousand x. This is a great project to talk to the devs. It's worth the money.
[00:23:11] They're shilling you on it. What happens behind the scenes? In the vast majority, not all, but the vast majority of cases, the token project has a couple of obligations. The first obligation is liquidity. In order to raise liquidity in a perfect world, they're going to put their own money up. And some do, but not all do. So what they'll do is a presale. The presale is often pink scam, which automatically, it's a red flag. Just that's what it is. They always seem to fail. But then in order to entice people to buy in, they need to attract shillers. They need to tell shillers to find you, to get you on board with the project and get on board with the presale, with the whole intent being you're going to make some money up front. The presale is going to go one of two ways. It's either going to launch and then pump and dump. And it's a timing thing, and usually it's like 03:00 a.m. Where most normal people are not awake. It's either that or they'll vest itlock it to where you cannot claim all of your tokens or cannot sell them right away until the devs have sold theirs. And then all of a sudden it's like, good luck. Like that Openstreet world, that's every pre sale at this point. The vast majority of them simply are not credible, and they don't pretend to be. It's kind of subtle, but them going to Schillers in the first place should be a hint. So then once they can find enough suckers to buy in, at that point they have to get on things like Coinmarketcap, they have to get on things like Coingecko, they have to get on the various scans, they have to get listed, they have to get on poocoin or Dex screen or whatever. They have to get listed on all these places because they believe it lends credibility to their project to do this in order to do that. And this is me exposing the business in order to do this. Like coin market cap, for example. Coin market cap wants to see roughly $200,000 worth of traffic volume of trades happening. There are services that can fake that traffic. So the first thing that they'll do, because coin market cap also requires that you be listed on at least one exchange. This may be a decentralized exchange, like a uniswap, right? Or biswap is another one. So I'll take biswap, I'll pick on them. Biswap offers an API where you can essentially wash trade it, and nobody's going to do anything because it's decent. If you get on a centralized exchange, there are some ghetto ones, like indox, that's the ghetto one, Poloniax is another one. And they actually do their own form internally of data wash trading. If you notice the actual transactions, you'll see patterns in what the buys and sells are. If you look in the terms, almost all of them. And I talked about this with Bleez and his situation. It wasn't specifically bleeze, but Mex C Mexie. He was affected by what Mexie specifically had in their terms, which is effectively we can delete all the history, we can change whatever, we can take the money, whatever.
[00:26:11] And all of them basically have some variation of that verbiage.
[00:26:15] What it also says is they can delete and edit transactions in their ledgers in order to keep the books. Well, that's like cooking the books outside of the crypto. Business. But these exchanges, they have it in their terms that they can do that, and some of them do that. Hotbit, which is dead, if I recall, Hotbit was one of those where they were at least accused of doing it prior to them shutting down. Then they shut down because too much smoke was coming their way. Well, this whole wash trading, again, there's a whole set of services out there where you can pay these people to create wash trades. They'll spit up bots that fake buy and sell traffic. What you may not know, for those that are listening, that came from the thorium libro ecosystem that's actually active on their side, they had it active upfront and they have it active now where it's doing bot based transactions to emulate volume that really isn't real. It's not real people. So this now gives the volume numbers that Coinmarketcap wants. They see that you're on at least one exchange, that's what they want, and they'll list you. You could be absolute garbage. They don't care, they just give the basic minimum. Turns out Coinmarketcap knows that these services exist. They know that's what they're doing. They have said, and if unquote, they have said, it's not our job to censor. So what they're saying is, well, we're out of it if that's what they do. It's up to the investors, as in you. So then you come along, you just see some volume, you see that the market cap is going up and there's some reasonably high volume and the liquidity looks decent, good, and seems like a lot of people talking about it and the holder counts are going up. And so for you, what happens? Fomo, you fomo into it. And here's the key. You might make some money off of it, you might actually make some money off of this garbage knowing it's garbage, but it's a gamble. And that's all I've ever said is that it's a gamble. And I just want people to admit that they're gambling when they do that because that's what you're doing. Once you admit that you're gambling now, you're empowered to protect yourself. You can say, this is too risky, or it's just a little bit of money, I'm not worried about it. Or, hey, there's something here.
[00:28:19] Talking back now about liberal. When liberal first launched, I tossed like $5100, a small amount in that thing, and it was just dropping zeros like crazy up to a penny. And I knew it wasn't going to sustain because it's one of those rebase tokens. You're printing, printing, printing, it's not going to last. Same with Tatano, which is dead. Same with drip, which might as well be dead. Same with Seifu, which is dead. All these other ones, ascent stacked, they're all dead, right? Because I knew all they're doing is just getting you interested. And then the rebase using that as a sales pitch, knowing full well that printing, printing, printing out of control wasn't going to work. So all of this I tell you, because when you have something like an everize where they're not doing anything at all and they're doing it right, they didn't do this wash trading I described. They did it right, but they're not doing anything at all. You have the extreme left, you're doing nothing, and the extreme right, you're doing unethical. There is no gray area. Every project is doing one of these things. They're doing nothing, or they're doing unethical. They're not doing in the middle ground. So when I saw that rise, chose to basically do nothing is disappointing because you're talking about a project that really should be much more successful than it is. And I figured I would give some time on the episode to talk about my disappointment in a project that at one point was one of the most beautiful ones in cryptocurrency, arguably. And right now, as we're on the cusp of a bull, they still can't get the volume back. They still can't get people to buy back in. Same with rich quack. And it's sad, but this is the state of what it is. It's a different type of run than what we had in 2000 and 22,021. It's a different kind of run. People are a lot more studious about what they get into. By studious, I don't mean that they're only going after legit projects. I mean they're a little bit more picky. They're looking for specific things that may be just a garbage dog, or it may be a salana specific, or it may be something where they know it's profit, or it may be just quick pump and dump, whatever. They're now more specific, as in before it was a little bit more, you know, with Saitama. Right. It just came out of nowhere. Here it is. It's what it is. Comes out of nowhere. And people are buying in. Big players are buying in for no real reason because they didn't have any true utility because of the failed November 13. That utility took a long time to show up. Now that it has it, nobody wants to go back in it. Same thing. Same thing as rise. But at least atom is trying to do something. Cytogene, they're trying to do something, but their leader is an idiot. So again, it's like they're doing nothing or they're doing unethical. There's no gray area. Since there's no gray area, I and people like myself can't really give you viable advice, know, because I used to do the coverage on the different tokens and it was easy because there was easy clear lines between know. It was obvious impact XP was garbage. It was obvious crypto cowboy token wasn't going to last too long. It was obvious the leader of Shinjo was an idiot. It was obvious that Satama was a cult. It was obvious to me, at least that terrarium was shady as all hell. These were obvious to me. But you were hearing it from multiple circles that there's something here. Meanwhile, I'm standing over in the corner looking at projects like this one, like Angie, that's dead right? Elk, which is still there and amazing. I'm looking at these as the future, potential future, and they're being ignored. We're right back to these scam ones that are not really scams, which is interesting.
[00:31:51] No problem, whatever you choose to do with your money.
[00:31:55] I find it disappointing, though, that good projects are being left by the wayside simply because of incompetent leadership. They don't understand how to now exploit what would be a key opportunity to make their projects succeed if they knew what the f they were doing. They just don't. And that's depressing. As I close from the liberal ecosystem, I don't know if anybody noticed it because I certainly didn't. But f Libero, it's still out there. And they left it alone, turns out. And this was just a couple of months ago, turns out they did a Dow vote on f liberal, which is rare because they don't usually. And the problem is the F Libero Dow is combined with the Libero Dow, which I think is stupid. The Libera bank is toast. And you're like, so the Libera bank is toast. So liberal bank was toast. They killed it. And they said, move to Libera Bank. Libera Bank's the future. Liberal bank's got liquidity. Liberabank's stable. It's not going anywhere. And they told us to migrate to Libera bank. So people do that. Well, Liberabank's toast. If you didn't know that, and you're hearing for the first time from Leicester, cryptotalkradio. Net, maybe you should let them know since they were the ones that said that Leister didn't know what he was talking about. Maybe they need to come back. Give my credit for calling it like I saw it. It's like, okay, this is not good. Since you started killing off some of these rewards, the garden got killed out of the random blue. With money still locked in the business, the miners are toast. The Libra miners toast the thorium. One of the liquidity pools of thorium is shifting around. They're shifting all this stuff and they're not communicating any of the stuff. There's not on the website because the websites suck. The only way you would know is to be going to their tool every day to see these pop ups or go to Telescam, which neither of us going to do. So I'm telling you as a public service announcement, Liberabank is no more. It's toast. You can migrate it if you want to. This key of life crap that they had, which apparently is a different group, is what I'm told. It's a different group. Totally different group of people. The key of life went through a little bit better on the audit side, but I wouldn't trust as far as I can throw it because again, it's another shiny right. Remember where we started, folks. We started. And I'm ranting a little bit. I'm almost done. We started with the thorium deal. We get the garuda, we get the Cerberus. They fail, they get hacked, they do the recovery on the thorium side. Then they launch this liberal thing, which was one of the most beautiful things I thought was done well, and they just didn't know how to capitalize on it and they suck at it. And then they launched F Libero. F liberal had potential, but they launched it wrong, in my opinion.
[00:34:29] Libera comes out of nowhere. It's absolute garbage, in my opinion, personal opinion. Multiverse capital is abandoned. Epic heroes abandoned. And now Libera is abandoned. Libero is abandoned. Do you understand the pattern of these guys is to abandon when they can't figure it out. And so if you're in Libera bank, I would advise you to do something. If you're going to do the key of life, it is what it is. I'm not doing that. I refuse.
[00:34:54] I did though, since they left f liberal alone for the most part. The Dow voters on that side were pretty significant on it. They said, no, leave this crap alone because they were going to take, this is months, like eight months ago, they were going to take f liberal and say, okay, we'll roll you to Libera because it's stable. It's not going anywhere. Isn't that a joke? And people in the Dow in the f liberal said, screw you, bro. No, leave it the fuck alone.
[00:35:19] But f liberal, you can't sell it. You can't. There's something wonky and I think it's anti whale because again, I'm apparently a whale in f liberal. I didn't know that. So you can't sell it, won't transact. It'll approve, but it won't actually transact. And that's fine because I see that I hold a pretty significant amount of the tokens. When I looked at it, I'm like, jeez, it's a lot.
[00:35:41] So I took the tokens and I just locked them in the bank because I don't need the money. It's not that. I just was trying to make and sell to buy into other projects off the proceeds off of this one because that's what their sales pitch used to be and that's not going to work either. So just so you know, FYI, f Libero, they left it alone for now. Apparently it's not forgotten. They're just not focusing on it. They're not developing against it, far as I know. I don't know what's really going on or the story. They said in the Dow, wait till things recover. Well, things have kind of recovered now. And it turns out that they are still burning supply. So it's burning, burning, burning, burning on a constant basis. So they are trying to burn the supply off. I'm not sure. And then they're adding liquidity, stacking liquidity. I'm not sure why they don't just burn the remaining supply. I think they stopped the rebase, but I was getting rewards. So I don't know if those are straight reflections or what's going on there. I do see cells, so I can't tell you what the story is with it, only that they left it alone. Other than this block of cells that's happened. I don't know what's the deal. So I guess I'm warning you about the overall ecosystem because I don't know exactly what they're doing. I don't know if you saw thorium's price jumping like 4000 per. And I'll remind you they're burning the supply to do that. So I would caution you against getting into any of it because I don't think they know what they're doing. They swear that the key of life is safer, much more. Whatever. I don't trust it because of what they did to the BNB garden, what they did to the miners, what they did to Libero, what they did to Libera, what they did to multiverse, what they did to freaking epic hero. It's a pattern. I think Kia life is going to die too. Can't say for sure.
[00:37:22] Anyway, cryptocurrency is up and down, up and down. Ride the waves. But please be safe as you do so. Put a helmet on because strap in. It's going to be a bumpy ride, I assure you. And there are going to be people out there telling you to get in some garbage. I actually have somebody who's an influencer who was talking about it. He talks about a project and I had a bunch of people say, you know, that just rug pulled. I don't know that it did or not, but if it did, I'm conflicted. I don't want to contradict this person because he seems to think very highly of it. At the same time, I can't ignore these people and say it's a rug pull. Could be that it's not a rug pull. It's doing similar things to what liberal bank was doing. Lock it in here for four years and we'll pay you on whatever and lock it on this. And it's a similar thing. So I would be hesitant to tell you to get into that kind of stuff. So just strap in. It's going to be a bumpy ride, but I think we're going to come out okay in the end. I think it's going to be a good run for Ethereum. It's my gut speaking on that one. And when ethereum eats, I think the other ones will eat. And then at some point bitcoin will eat. And we're en route to some really exciting stuff here in the future.
