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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]. Dot and now here's your host, Leister. Thank you for that, Bailey. And welcome, everybody out there on crypto Talk radio [email protected]. Dot we're live. We're live and on the air. Thank you for joining. Thank you for coming back. Thank you. If you're new, Cryptotalk FM is the new address. I'm in the transitional phases, so I haven't updated the intro. My name is Leister. I'm your host. I am. I'm trying to calm down. You know, who's trying to relax? Because I, on casual talk yesterday, I went and I snapped. I don't want to say snapped. I went a little bit aggressive, aggro, as the kids used to say, because the subject of my topic really just didn't get it. And I was so offended by it, not because of the person, but because of the subject. The subject was offensive to me. As a black american, as I am. I felt I had to respond, and so I'm trying to relax. So I mentioned on the previous episode, I don't follow crypto as much as I used to. I follow it, but not closely. Things happen. I don't do Twitter slash x anymore because it's a cesspool, and I'm not, when I say cesspool, I'm not even talking people per se, although that's part of it. I'm talking the. So I had an account, CTR crypto radio, and it would get blocked randomly for no reason. Like, I'll literally not log into it for two days, and then I log in, check, you know, if there's messages or something, because I have followers from, like, China and Japan, and I interact with them in their native language because, you know, I'm international like that, and I'll see that it's done the block, and it makes you do that stupid argosy challenge. And I was tired of doing it. I was not gonna keep doing because it started to get silly, like, ten levels deep of this crap. I was. So I was done. So I abandoned the account. It's still out there, but I abandoned it, and it's sitting in suspend, and I'm gonna let it sit there because I was not going to do it anymore. I have, like, five. Yeah, five total Twitter accounts. One of them I don't interact with heavily, but I have all these ones. That one was the only one doing this nonsense. It didn't make any sense. That's why I'm not on Twitter, by the way, because they keep blocking it. And I think it's just crypto accounts under attack because blease had his hacked, others got breached, or they get hacked, or they get spammed or whatever. And I think it's just crypto accounts specifically. But I wasn't gonna fight it. So it's not like I quit social media. I didn't quit social media. I didn't even quit Twitter. I'm still on it, just not for crypto purposes. For crypto purposes, we are on Facebook at this is CTR.
[00:02:42] I don't believe I created a crypto specific page. I think it's all under. This is CTR is the symbol. We're also on Discord, cryptotalkradio.net. So that's the old address. Slash discord takes you there, and then I'm working on some other things. So for right now, I would argue that Facebook is the primary. If you're just looking for updates, casual updates as well as discord are content. Post to YouTube, crypto talk radio.net slash YouTube. It posts to Facebook and it posts to discord. So. And then it also posts to Bitchute and Odyssey. So if you prefer those where our distribution has spread, it's my point. It does not synchronize to rumble. I turn that off, and I don't remember the specifics, but I think I got pissed off at them and I shut the shit off. So I don't. I don't know what happened with Rumble. I'm not on rumble actively. Once I get the studio set up, that may change. I got to think about it. I don't know, because I got to debate whether I'm going to put my content on one of these platforms. I prefer bitchute, but the quality, they don't let you do high quality, so you can't go to, like, 1080p. It's all garbage. Quality. And their excuse was people on the phones. And I'm like, I don't listen, if you're going to hit my stuff with phones, you better have a good data plan, because the whole point is visual quality if you're going to do that. And they're the only ones that do it. That's why I haven't committed. But Bitchoot has the volume that I want of watchers. I have the greatest watcher count on Bitchute. It's not on YouTube. Damn sure not. It's not on Odyssey. It damn sure isn't on rumble. It's not on Facebook. It's on bitchute. But bitchute has the garbage quality, so maybe they're onto something with the whole crap quality in phones, but I like to have the maximum quality. This is something I have to debate going forward because again, my audience is strong on bitchute, even though I don't follow it close like I probably should. The audience is strong, so I'm benching that about separately. I mentioned I'm in the process of trying to close in this house, the close date. So that's scheduled for the 28th. All of my stuff's done. The loan stuff's done. The home insurance is done. All my stuff's done. Okay. The seller's accepted. We have a contract. We're good. I saw that they were moving stuff out, so we should be good to go. And I'm told by my agent we're good to go. We are good to go. I'm waiting for the final commit, as in the loan has originated and we're going to show up on that closing day and I'm going to take possession of the keys. That has not happened yet, but I'm assured that it will. So I'm in the planning phases for what that means. I'm still going to have possession of the place I'm at until the beginning of July. So I got the month of June basically to get the hell out of here. And then I've got to tear down what I've got, which is going to be a blatant headache. Move my stuff out of storage, which is paid up through July. It's already prepaid. Move my stuff out of storage. Get it all the way over there. It's like a two hour drive from where I'm at. Get that all set up. There's some stuff that's lacking in the new place. I got to figure that all out and I may consider staying here until I get some of the stuff fixed. I'm going to have to do some repairs, window work, etcetera. But my plan is to get the studio set up. I think I've identified the room for the new studio. I already have the equipment because I'm recording on that now, and I've kind of perfected the audio side of the equipment. What I don't know is the level of noise in the new place. During the business day. I'm going to be getting soundproof windows and soundproof doors and the whole nine, but it could very well be there's some sort of. No, I'm literally across the street from a school, so I have no idea what I'm up against. My point though, my goal is to set up the studio again, get that all back up like I had it, so I can get back on lives just because I feel like I should at this point. I may have to use the basement. I don't really want to, but if I have to, that's what I will do. My but my point is I am working on getting back to recording live, so that is on deck once I get into the new place and I figure it all out. I also have to see because my equity is going to be rather high from day one. So I got to see what that means in terms of fixing up the place so I can get it the way I want it to be.
[00:06:59] Now, I said that I was trying to woos on, calm down and relax, and I'm still trying to do that having not focused on cryptocurrency and just kind of blocked it out. I was dialing in and I was looking at some updates. I'm going to be talking about those today. But just to warn you, okay, I'm going to be giving some slight bad news. I don't want to say bad news, but it's slight bad news. However, at the tail end I was suffering with a very my stomach was hurting like crazy. Okay. The reason my stomach was hurting was due to some absolutely absoragn, lutely hysterical comments made on Coinmarketcaps community.
[00:07:38] And it's around shido or shido and cytochain. I'm going to be sharing those because I think it's important that I do my part to give you a good laugh. Okay? I think I need to make sure I'm helping you laugh. Now, if you don't know these projects, it may not be as funny to you, but I think the comments in of themselves are funny enough that everybody will get a chuckle. I also want to talk about something I saw in blease's recent he uploaded a video. It was around Luda classic, but it was also some other people, kind of in a tertiary update night. I I laughed at that one only because of the situation being so funny in his response to it. And I'll share a little bit of that one because I think it again, my intent is to try to help add some humor, make you laugh a little bit, given some down points of cryptocurrency.
[00:08:33] Speaking of down points, let's go ahead and look at some numbers and check coindesk.com and zoom out to the month chart. And I think it's more appropriate to start with ethereum because its graph is probably going to depress you more than anybody else's. I feel like if you ever were going to be feeling bad for the remainder of May. Now on the up part. Right. The good news is that Lyster here, cryptotalk, FM warned you that this was likely to happen. Not being sure, but I warned you it was likely to happen. And I called out the month of May. I got the month of May, and this is what we see. So Ethereum zooming out to the month, a steep downward trend. Significant downturn, which I told you was likely to happen, and I wasn't sure, but likely to happen and downward pressure like you wouldn't believe. A low of 28 six, a high, a 29 six, hovering about the 29 ish mark, 2900, as I recorded, of course. Remember, not a week and a half ago, Ethereum was over 3000, close to $3,200. So when I say a significant drop, we're talking hundreds of dollars worth of a drop on a token or coin. That was only $3,000 to begin with. Do I think that we'll recover? Yeah, but I think we got a little bit more hurt, a little bit more pain to go before we get there. Based on the velocity downward that I'm noticing, I suspect that we've got some more pain to suffer under. Bitcoin had a similar drop, but I wasn't as freaked out on bitcoin.
[00:10:06] A low of 61,000. A high of 63,000. So a bit of volatility. Currently hovering at the 61 six mark. It is also trending downward, but it didn't have the same level of dip and drop that we saw with Ethereum. So it told me, yeah, bitcoin could probably go back down into the sixties, 60,000, if not 59,000, sometime in the next week or so. And I do think there will be recovery back up, especially as people realign to the new normal, that new normal being with, you know, the having now having passed and some of these other garbage is going away. There were a couple of things that I saw. Whether they were directly correlated to what we were seeing, I can't say for sure. I'm just going to call them out first. Solana took over a very prime position ahead of Ethereum in terms of the utilization.
[00:10:55] But Solana has issues. It has network issues. Every time it hits a peak, it seems to crap and have some issues, has been so for years. Every single time it hits a peak of sustained growth, there's some sort of a network level hiccup inherent to the way it's designed that stymies its growth, and then money seems to flow in a different direction. That money didn't flow into the Ethereum side. That money seemed to flow into other garbage that's out there. But in this case, I speculated that some of the money might have gone over to the stock side with the recent GME Gamestock, a game stop stock, and the halting and the runs over there. Because that idiot with the long hair who was, you know, one of those, quote, Maxis, as the kids say about that business and AMC going to runs, we saw on the stock side significant run ups that told me that it was possible that people were simply, again, robbing Peter to pay Paul, shifting money from one side to another, which would seem to indicate that the money is going to flow back into cryptocurrency when it hits a certain bottom. So that's why I started with Ethereum, because Ethereum seemed like it was going to hit that bottom faster than bitcoin was going to do, which might indicate a run up on the bitcoin, on the ethereum, rather side. Now, again, Ethereum never got back to its all time high. It never got that high. It only got just shy of $4,000, if not $4,000. But it never got to its true all time high, which told me that we had a way to go up. Most of the money was flowing in the direction of bitcoin. So there's an opportunity. If I look at Ethereum hovering at the highest recent, so recent, the highest being about $4,000 and I think it's all time high was somewhere around $4,800, if I recall correctly. Somewhere in the neighborhood of that. Yeah, 4000, 804,900, somewhere around there. So it got eh, but I don't call that close. You're still $800 off from the all time high in this most recent run, I would have expected it to get to around 4500. It didn't get anywhere close to that recently, which tells me that it's possible that it gets there in the next jump up that's scheduled to happen. And I'm going to estimate and spitball this sometime in the June timeframe, probably about second week of June. Starting is my guesstimate. And that's a ballpark guesstimate. I have no factual data to back up what I'm theorizing. Simply that analysis seemed to correlate that the dip was going to be happening in May. And then was expected to climb sometime in June and thereafter. So I'm kind of riding that wave. Based on the charts, I'm riding that wave and expecting it to do something similar, that if we're going to get a recovery, as I expect we would, it would start roughly about the June timeframe. No problem. I got no issue with that, and I'll be watching that very closely.
[00:13:39] Coinbase very recently had some drama. I've said Coinbase is crap. I told people multiple times that I felt like Coinbase was crap. I stopped using Coinbase a very long time ago because I felt it was crap. Even though I get their emails talking about $50 sitting there in the bank, I just. I just swore off it. I, you know, I couldn't even cash out because there was too little, like there were dust amounts. And you can't cash out the dust amounts because they're not of the fee, right? Because they nail you with stupid fees. That's one of the reasons I got rid of them. Well, recently Coinbase was having some major, major issues and it brought back frightening memories of what happened when Shiba Inu went live on Coinbase Pro. Because what allegedly was happening, people that were Coinbase customers claimed they were not able to do any withdrawals they could get into the account, but they could not withdraw any cryptocurrency. They were giving a message that said, quote, sending to this recipient as the, as in themselves, temporarily disabled. Coinbase came out and said, well, we had an issue that affected our website, it affected our mobile apps, it affected our APIs, and it would not allow you to log in. But the customer said, no, I can log in, but you wouldn't allow me to withdraw. Now when they say that the API was affected, that would seem to affect the withdrawal because the withdrawal is essentially an API that's making a call to do the contract interact with smart contract in a safe fashion.
[00:14:55] My point is, this seems to have been resolved now. Seems to have been recovered to where people are able to work, but they have not given any specifics beyond what they said, which is we did have some connectivity issues before. Looks like it's resolved now. According what it says took them roughly about 3 hours to get it fixed, but they're not telling what happened. When the Shib Shiba Inu token went live on Coinbase pro, a very similar thing happened. And in that situation, the price was all jacked up. When they identified that the price was jacked up and people were overpaying for the token, they started blocking people from being able to log in so that people could not exploit the arbitrage of the price. This reminds me very similar what happened back then. And I'm going to tinfoil it and say that Coinbase purposely locks stuff down for something similar. I don't know what the something similar is. I don't know if that truly was the situation. I'm simply going to tinfoil that likely was something very similar that happened here. They intentionally locked it down for some reason that they're not disclosing. I again have no evidence to support this business.
[00:15:59] New Hampshire, which is one of the states, the United States is now looking into investing in bitcoin ETF's. The intent is to address some of their shortfalls with the state finances. Now, should this freak you out? I'll get to that in a second. Let me detail it and then I'll give my thoughts. Because there's a, there's some goods and bads to this whole thing.
[00:16:20] The whole El Salvador, right? El Salvador Yolo ed into bitcoin at a time that people said that they were nuts, that you're using taxpayer money to invest in gambling. Roll the dice with people's cash. This is during the time when bitcoin went as far down as like 12,000, $15,000. Those folks are sitting pretty. When it skyrocketed up to $60,000, they made a mint because he was stacking and stacking and stacking. So he made a smart bet at the right time. Did the lead of El Salvador. Well, in New Hampshire, the lawmakers took a look at what happened there and said, you know what? We looked at what happened with bitcoin as far back as 2016. Now, in 2016, it was at all time lows, crazy amounts of lows. And they were saying, well, we could have invested in it back then and we had a major gains that would have helped us. We've missed the boat, but we have an opportunity with these ETF's where we might be able to increase state holdings. Investing in this ETF, quote, if just 1% of state pension money flowed into bitcoin, it would dwarf mining revenues, leading to a supply shortage relative to demand and a price increase for bitcoin, unquote. So he's talking two different paradigms. He's talking about the money that potentially would be gained by the state by investing. He's also talking about potentially causing a supply crunch because they're investing so much, which might cause a price increase, appreciation, which might lend to appreciated value for everybody involved. Now, many people have speculated that the supply crunch that was triggered initially by the handling that we haven't realized yet was exactly going to do that. It was going to inspect the price of bitcoin. We haven't seen that yet. We saw the opposite. Multiple people told you though, including Lyster Crypto talk FM that shortly after the having we were going to see some sell off events simply because of what it is. So what they're talking about was intriguing when I saw it. He goes further. The state of New Hampshire has outstanding liabilities to the state pension system of $1.25 billion and for bonds of around $200 million. How can we climb out of that hole? The answer may be staring us in the face and it's worthy of further investigation. Stop saying such a thing. First of all, it should be embarrassing that you have that much of a shortfall due to the pension system. And if you're not in the United States and you don't understand pensions, I know some international countries have pensions, but the vast majority, I believe, do not. A pension is when, and it's mostly for state government. But it also was in the private sector is the idea that you are part of a plan and it's usually like an employee sponsor type deal where your company, if you are there for five years, ten years, 20 years after you're there and you serve for a period of years, you are then entitled to benefits after you retire. And those benefits last for as long as you are in retirement age and you're still alive. This largely started with the railroads and some of the other blue collar jobs, and then they went away when white collar started to become more of a thing because white collar workers are generally paid more than the other blue collar side. And so the thought was that it was going to drain the system. So they started backing off pensions. They're still there, but they're rare. Meanwhile, for the ones that were sponsored by governments, they were left with a shortfall. That's what they're referring to at state of New Hampshire, and they're saying that investing in the bitcoin ETF's might help them generate enough money to fill the shortfall. I actually believe that's a smart thing to do. However, I would ask the question, how come the federal government isn't stepping in to try to help those shortfalls instead of shipping billions and billions of dollars overseas to a war that does not directly stress, the word directly impact us. Now, I asked the question up front, is this a good thing?
[00:20:00] I think its a good thing and its a bad thing. I think its a good thing because if anything, it sends a message to the Biden administration that ultimately the states are interested in adopting at least some form of cryptocurrency and welcoming it as part of state budgeting and finance. I think its a potentially risky business because we dont know how good these idiots are at gambling with your money, with your taxpayer money. So without some sort of corralling constraint written in law that prevents them from going buckshot nuts with your money, I hesitate to allow this to be an open gate. There has to be some. This is where the federal government really should come in. There has to be some due diligence in how the money is used. That's how we do it on the stock side. That's how we do it on the bond side. Having an unregulated wall. Wow. West of cryptocurrency. Allowing these government entities and these lawmakers to just go roughshod whenever they feel like it with your taxpayer money doesn't really sit well with me. Do I say I don't trust them? No, but I really don't trust them. So I'd like to see some sort of legislature that gets in front of this and says, let's talk this through. What does it mean? What are the opportunities? What are the impacts? And most importantly, how do we benefit our citizens in exchange for the money they're giving to us? I've got some ideas. I know there is a couple of senators that listen to the show, so here's some ideas. I'm giving them free of charge. If you'd like to invite Lyster cryptotalk FM to talk about the situation in front of a larger forum and on televised, I'm happy to do that. But here's my idea.
[00:21:30] What are the main pain points that we have? Society? What are the main pain points? We have homeownership, obviously, and by home ownership, it has sub pains. We have homelessness. We have rent, which is basically a scam. It's essentially a scam. That's what it is. Rental. And then we have the business side, business, office space, corporate. So housing, number one.
[00:21:57] Number two is the price of goods and services. By goods and services, I refer to the food that you're trying to get. I refer to cars. I refer to calling a contractor. I'm referring to anything that requires you pay money to somebody for something. Just in general. That's a pain point we have right now, arguably.
[00:22:17] But number three most important, I think, is taxes. Taxes in all forms. Taxes for properties, taxes for income, taxes for this. Taxes, taxes, taxes. Right. And no clean picture around linear taxes. The idea that we can understand when you've already paid taxes and we're not going to tax you again. In a perfect world, all taxes would be consumption based taxes. So we don't have to worry about the income that you make. We worry about when you consume. And if we take away income taxes, in theory, it provides some sort of a stimulus to people that may revitalize the economy, at least to a partial degree. Because now that money doesn't have to be taken away from you before you ever get a chance to spend it, which might encourage more spending, which might help with some of the inflation situations. This is all theoretical. I don't have any data to back any this up. But if you look at something like this, where they're trying to use, in this case ETF's, so not straight crypto, but straight ETF's to try to resolve these shortfalls. I got a better idea. How about you consider investing in cryptocurrencies and you pay, by you, I mean governments. You pay to revitalize torn down neighborhoods. You pay to drop the price of homes, to drop the price of apartments, to drop the price of condos, to drop the price of townhomes. How about you use cryptocurrency to offset the need to collect taxes on a regular basis? How about you collect with this ETF, collect the profits and use them to invest in law enforcement? Not just law enforcement people, but also law enforcement retraining. Because here's the thing. Your law enforcement departments are still working under the notion that we're in the wild, wild west and they don't know how to interact with people. That's just the truth of it. I understand in some cases why they like to think that they should profile people, but I would rather see a better approach taken, which is actually monitoring, actually patrolling, actually looking out for crimes before they happen. And I do think that that's easy to accomplish because just the presence of law enforcement in of itself can be a deterrent to some of the spikes in crime that we see in some of the major cities. How about you use some of the profit potential of ETF's to actually contribute in a positive way to the pockets of everyday Americans? If we can do that, I would be all for it. But I suspect you're not going to do that. So my concern only circles around, if you're going to do something like this, every benefit that you get from it needs to flow down to the citizens of your state. Or your county. If it's not going to do that, I'm not on board.
[00:24:52] It's not that I don't trust you, but I don't trust you. Let's show and earn that trust by saying we're going to give back to the people. We're going to fix jacked up society. I would love to see where we get it to where. Okay, we're not going to do these almost cussed fricking EV's. We're not rushing there. We're going to invest in infrastructure that supports hybrid vehicles and lower prices for cars. Let's minimize reliance on loans. I understand that pisses the banks off. They're not going to make the money. They need to find a better way. They need to invest in ETF's, find their own independence. Let's use this for the greater good, not for singular good, and not to achieve minority wish list items. That's all I'm saying here.
[00:25:32] Ark invest, which is that Cathie Wood business I believe, talks about dropping staking from the Ethereum ETF's. This caused a little bit of negative sentiment that may have contributed to some of the drop that I saw very recently. But these SEC is still in the process of reviewing whether or not it's going to approve Ethereum ETF's when they dropped the staking. This may have been in response to. Historically the SEC has been against staking, believing that it attributes to securities. Now there's arguments, yarn. Am I not going to get into. The point is this may have contributed to some of the negative sentiment that we saw very most recently with Ethereum in particular. I can't say 100%. I'm saying it might have done so something to keep an eye on. If you're invested or you are watching Ark and Cathie Wood and everything she does, I don't know. Celsius Network, as part of an agreement for the bankruptcy, agrees to burn all of its cel tokens, all the tokens that it had that was sitting on, which would accumulate to be about 94% of the total supply. They talked about doing this before. It wasn't sure if it was going to happen. It sounds like it's going to happen. And after the fact, they went ahead and burned it. Right? And this was in the end of April. Well, the confirmation now has come in and we saw that 94% of supply indeed had been burned, totaled about $83 million as of the price at that time, total supply remaining is about 40 million CEO tokens. It caused a little bit of a run up because people had some FOMO expecting it was going to do some major runs that didn't hold, it went right back down. I talk about it because some people may want to roll the dice on Celsius and see if they can get somebody out of it. I do not plan to do that, but I share it because it may be something that you're interested in. Now, let's talk about the fun stuff, folks. Let's talk about the absolute geez. So, all right, you know, let's get the beliefs one out of the way, because that one's easier than these other gee, let's get the bleeds another way. So at some point in the past, I don't remember exactly when, blease crypto had done a partnership, and this was part of Luna classic. So he's been doing coverage on Luna classic on an irregular basis. He talks about it, and I had talked about it. I stopped talking about it because I got the sense that it's been largely abandoned by the people who could make a difference. And by that, I don't mean, like, happy caddy. He's trying to make a difference, but he's not empowered to make a difference. I'm talking the people with the power and authority to actually make a difference. It feels like it's been abandoned by those people because of do rug, pull a k do Kwan and what's happening with him, and then there's kind of this waiting zone to figure out what's going to happen with him. And there was chatter about him coming back in, and people didn't want him back in. And. And there was so much shifting drama. I didn't want to do it. And I talked about the lunatics token, which hadn't done shit, and I talked about, you know, the burn. I was trying to do the burn challenge. Nobody did it. And then class, he was like, we should bear do. And so I backed off. It's not that I'm not interested in it. I do hold some of it just off the side. It's throwaway money. But I wasn't actively talking about it, only because I was trying to just let the dust settle, you know, mine, myself. Stake my bag is going to be what it is. It's not staked. It's just sitting in the wallet, and I just watch it. And if it goes down to a certain point, I would probably double the bag just because. But it's. It's throwaway money. So for me, it didn't matter. It's. At this point, it's might as well be a quote, full coin because we're not allowed to say shit coin, but vol coin, volatile. It's going to shift up and down. There's some profit potential. The reality is this, without very strong burning happening, that guy's not going to go anywhere. Because it doesn't matter about utility because the supply is too damn high. That I'll make that statement. I'm on audio, you can hold me accountable. And I'm not trying to depress anybody that's in Luna classic. I'm simply being a realist. There's too much supply and it's not being addressed. Because again, the people who seem like they had the ability to make a difference have long since apparently abandoned it, well, believes had done a partnership with somebody called Levi. Apparently his tag is cryptoking. I knew nothing of this person, had never heard of this person. Because, you know, I don't follow some of those shillers. Well, apparently this Levi person had invented this fire token. And apparently Levi was also around some other token called a burn token or blaze token, whatever for Shib. And I ignored it because I saw the lunatics. Token had talked about the same thing and they again named us. So please did the thing with the. And he did a couple videos with the, with the whole fire token he was talking about, okay, we're gonna. Apparently I didn't follow the deets, but something about bitcoin miners and then using the profits to burn, to buy and burn Luna classic. And so he did a couple of these as part of the partnership.
[00:30:17] I ignored it. I didn't pay attention cuz I figured all these ones talking gimmicks about we're gonna buy and burn. It's like you've already got fucking validators who are making a mint in these tokens. Why don't they burn that? That's what I was saying. Like you've got validators. They're making a mint in Luna classic tokens. How about you burn your Luna classic? Yes, you're essentially burning money. That's exactly what I'm talking about. If you're about it, as the kids used to say, show that you're about it by burning your tokens in solidarity, not solidity. In solidarity to the project. Show your solidarity. I burn tokens. My address for burning the tokens is still out there. So as proof of the fact I burned a fair amount of tokens just because it was tokens I had, I bought them and I burned them. And I'm like, why didn't you do this. So then some of the people in the community were pushing back on the concept of burns. And then when Xerodar had the thing and all this, and people are saying it's crazy to burn tokens, it's crazy to burn supply, that's fine, but it's the only way the damn thing's going to go anywhere because there's too much supply. So when this Levi thing came up, it seemed to cause some positive sentiment. Allegedly, he raised like 100 grand.
[00:31:27] Never heard anything since, never saw anything since. Blizz's video that he put up very most recently was talking about what had happened. And it was clear from Blizz's body language and his audio that he was absolutely frustrated about what happened with this situation. So because it, you know, it puts a bad light on him because he did the partnership, right? He's transparent about the partnership. The point is, people might have looked at him as one advocating for what it is. It's a partnership. He does what he does because he's paid to do it. But you could tell he was really pissed off about what happened in the situation with this levi. Allegedly, it's some sort of a scam or rug pull. People commented and said, yeah, he's a known scammer. We knew what happened. Same with the blaze token. So I share it because if you were in whatever that fire token business was, it's believed to be a rug pull at this point. Apparently you can still buy it, but there has not been any burns of Luna classic from that at all. And I didn't see any myself, so I share it. It's unfortunate, but it's also kind of funny because again, it just, you know, it validates why I don't go after ones that get hype. I just don't. None of them.
[00:32:32] None of them. When they get hype on social media, there's not been a single one that has succeeded. None of them. People come back at me and say, world coin, world coin is not a success. Worldcoin is a pump and dump at the point right now, just like dogechain, Worldcoin now is what doge chain was when that shit launched. So don't come at me talking about Worldcoin. Worldcoin is not that. World coin is pump and dump. Fire token became a pump and dump as pretty much every single token that gets hyped on social media eventually becomes. It just takes time. And I waited out. I don't say that to Dean, and I say that just to warn anybody that might have been in it. It's possible your money's gone. I don't know for sure. I share that only because it's entirely possible.
[00:33:25] Speaking about money being gone, I talked about Shido in you or Shido in you or whatever you pronounce. Man, this. This business is just a joke. And it's ironic, right? It's like, I never bought into this. I bought a bag like years ago, but I'm talking, you know, staying sitting on it. That bag was for trades. I didn't realize this would go as bad as it did. I thought some of the bad was like once and done a blip. It wasn't going to last. And instead it's just been absolute catastrophe after catastrophe with this.
[00:33:56] So I did an update on one of my prior and I talked about this shido Inu and I talked about how it got breached for billions and billions of tokens and just a fiasco that's actually one of the top rated recent uploads. It's getting a lot of traction because there were some people in it and then somebody responded and said they're getting back on track. I want to level set with you. They've not gotten back on track. They've not gotten back on track. So let's talk about some of the comments. This is on Coinmarketcaps community. If you'd like to go see it for yourself and understand that I'm not making this shit up. This is out there on coin market cap. So user batch Crazy Crusader says, quote, shadows network circulating supply now 18 billion shortly over 30 million.
[00:34:47] Most transactions on the network are fake. Why would 600 accounts need to restake 250,000 times in a matter of weeks? Stop. This person's referring to bots. So the theory is that there's a lot of bot traffic, artificial traffic designed to entice people to buy in. I do see some of this. It's kind of obvious when you look at the blockchains. It's always the same address. There's a Dex creator. It's always the same address as doing something.
[00:35:14] User Raisin asked the question, isn't it? Quote, isn't it a good thing that circulating supply increased makes investing more attractive? Since there's now almost no risk of dilution, I'd worry if total supply, total supply, is it a circulating supply increase? Which it hasn't. User Vlad responds and says, quote, it's exactly total supply that keeps increasing. It's already surpassed the diluted total supply limit of 18 billion because there was 30 million more. I'll get to that. Here in a second. So what's happening? First, the supply, it was, I think it was like 5 billion tokens or whatever was printed out of thin air. This is after Shido was attacking Volt, saying that Volt could print and print and print unlimited tokens. And I looked and I couldn't see a function that allowed them to print tokens. But it seems like perhaps as part of the blockchain shido release, it created the ability to print tokens because they had to do it support the blockchain. And somehow either it's just on the shido chain only and not on ERC or binance, I'm not sure. But somehow they're able to mint these successive tokens, which of course is decreasing the value. And then apparently people saw recently that even more tokens were printed out of thin air.
[00:36:26] Again, I'm not following it, but I'm watching it. And then the fake transactions. I did notice that as well. Likely to entice people to buy in. The same thing happened with cite a chain coin. We'll get to that. A second user CNY zero five says quote most disappointing project shit coin in the making it again. We got to make sure that we refer to it as a volume, you know, because what it is user truth hurt responds and says quote true sadly, the clown beorn killed his own project rug it two times. But why? Really why? He could be more rich if he didn't rug it but he got too greedy. And if someone really thinked there was a hack, why this clown and his team didn't give proof of hack that's spelled wrong? Why the team banned old investors and telescom for ask simple questions. Why he and his team keep lying and say they burring that's spelled wrong while they burn only token mood from ERC to shy 20 while total supply increases on shy 20. So that would seem to, by the way, seem to confirm what I said that most of the excessive printing is happening on the new blockchain.
[00:37:29] Why they didn't add liquidity and buyback as this clown said in his AMA recorded video. Because he can't handle the right questions in life.
[00:37:38] Where are the 74 project will be launched on Shido no one want to use this shit.
[00:37:43] I think I know why Beck, you greedy scammer wish c in jail for every cent you steal from hard people. Amani and then user whose name I'm not going to pronounce says Shido Queen is a scammer. I don't know who Shido Queen is. I'm assuming it's a shiller of some sort. I'm not sure.
[00:38:02] User Vlad responds and says, while you gonna be waiting, Shido might be on the way to the next dilution with or without a hack. I don't see any real solution from this team to fix this broken project. They keep announcing simp as in something, but it makes no sense. User Mk three says, quote bitcoin flying in. This turd can't even get out of first gear.
[00:38:24] Geez.
[00:38:26] Yeah.
[00:38:28] Wow. Batshit crazy crusader again says quote 640 accounts, 1100 transactions per hour. Which?
[00:38:38] User I'm not gonna pronounce the name. Says quote that's the catch. Nobody's building on the chain. It's just all restaking. The entire thing is one big scam.
[00:38:49] User cryptoJohndo says, I'm old enough to remember when Shido was over a cent.
[00:38:55] Userfk three says the last time this trash was this low was November 7, 2023. And there are 5 billion less tokens in circulation at that point. Since the staking wallet was drained, the price is down 90%.
[00:39:09] Promised large buys is worth the price. On March 2, this is down 70%. Even worse, since March 28, prices lost 70% of value.
[00:39:19] User again, that I won't pronounce. Name says quote it's pretty obvious at this point that they don't want to re add the money back in. And honestly, why would they? They know the coin is wash trading at this point. As they start adding money back in, whales just dump on the way back up.
[00:39:36] User Kara Mobitz says quote shortly, this man Bjorn will talk nonsense every week and say thank you all. Bye bye.
[00:39:45] User truth hurt again. It's more worth since staked about 2.5 billion shido and a roar 20%. So soon 500 million will be added to the supply. All this point all know project is dead, but Shido, queen and Shield, Bois and clown, Bjorn and telescom keep lie on investors. User I won't pronounce the name. Says quote cheeto queen is scammer. Team Shido is scammer. Two times rug pool. This not cheeto, but she do en you mean shit coin batshit crazy crusader again. Quote scam continues over 30. This is a 30 million extra shito minted in just a matter of weeks. With no Bernie community gets missed.
[00:40:29] User find me something or other says quote dump this shit to zero. User Vlad again quote with current gas fees and 200,000 transactions was just restaking scumbag. Bjorn 3600 shield 18 billion and he's Bernie 3000. Oh, man, I gotta appreciate and give. Shout out to the people actually doing that math. That is. That is quality. That's quality right there. Shout out to Vlad and the others doing the math on this business.
[00:41:10] Oh, man.
[00:41:12] User Johnny Aces says, quote, this project has been a disaster thanks to the shady dealings of the team. I believe both quote hacks were coordinated by them. There are still many investors who are old coins.
[00:41:24] While the value of those coins tokens has collapsed significantly. Well, I guess they're coins on the new blockchain. So frustrating. I was bullish in the beginning, but now they have proven multiple times that they cannot be trusted.
[00:41:38] Where's that other one that I saw? Oh, yeah, crypto Holic says Conway. The fuck? An admin on Telescan will remove you if you ask about these issues.
[00:41:50] So you're. If you're in Telescam.
[00:41:54] This quote came regarding side of chain coin. I'm not in telescope, but side of chain coin. And the reason it connects is because it's the same type of. It's the same type of negative sentiment as Shido for the same reasons. Right? A blockchain launches, recent tokens are minted out of thin air. The price keeps going down. There's bots going on. There's too many similarities between the two of these. That's why I jump straight over here, because I want you to understand the contrast in these two. And that's why I laugh so much. So I don't, again, I don't go to Telescom. I refuse. But cited chain they used as the time I was on gate. And apparently there was some issue with gate, as in the people where they were not able to get the cytochain coin tokens in swap for people. So Gate said, we'll let you keep trading Satama in you. That's the best we can do. Otherwise, you got taught Satama team and the Satama team refuses to address it, the gate IO holders. So I did an update where I talked about, you know, apparently, you know, these scanners are saying that side of chain coin is largely held by dust wallets. It's possible that the gate IO holders are just trapped there, and so it might have hurt the holder count, which might hurt the price of this business. I can't say for sure. I am saying that that's the sentiment people have.
[00:43:16] Old wine and new bottle. That's what cytochain is. So many people have lost their money investing in Satama Inu satama token and now cite a chain coyom spelled wrong. If you have not been rug pulled yet and want to know what rug pull is invested in citochain, not financial advice. The team cannot resolve a simple issue with gate IO and they want to rule blockchain world clowns.
[00:43:38] The best way to lose your money? Invest in citochain, not financial voice. Rug pull with one l guarantee. User barman repon says scammers. That's all he said on that business. User Biden Inu says how am I feeling about cider chain? I think it's garbage. Useless. No utility. Piece of trash. Shit coin as in volcoin. It's too good for this road trash. If you haven't lost your shirt yet, you better run. Invest in any other top 250. Youll do better. How did this do when bitcoin hit all time high? I already know. Not very good. You know what they say. Fool you twice where im certainly not that fool run. Even a standard savings account would have a better return. User jackass says this is one of the most trash shit coin ive seen in this crypto space.
[00:44:24] So, ugh, these two projects, like, it's weird. It's a weird feeling, right? So the safe moon leaders, they got jacked. Okay. Many of the hype tokens are gone.
[00:44:38] Floki still kicking somehow. But you have crap like these right side of chain. It's crap because of the way they treat it. You know, it might be a decent project of what it is, but it's crap in the way they treat it. The crap the way they acted. The crap. The way the ex and I said, you know, to the mister person on YouTube who's gonna take a victory lap? Because I had to be wrong. Mister Persian, who's going to take a victory lap? I want to remind you where the price is right now. It's actually going down. Regardless of the run ups that we had, it's actually going down. It's on the verge of gaining another zero now. Might it succeed at some point in the future? I don't know. Because all the stuff that they are building doesn't seem to be making much of a dent in the price of it. It is true that cryptocurrency overall is in a downward spiral right now, and it is true that you got issues with Ethereum and everything else, but I seem to recall that some of the sales pitch of having your own blockchain is to control some of that aspect. That's what Pulsechain basically said. So I would assume side of chain had the same kind of thought. If we run the blockchain we control the price of the coin. It'll insulate us against these dips. That doesn't seem to happen because unfortunately, as I said multiple times, you need the central exchanges and you need buy in. And if you can't make shit work without screwing up, it's going to cause the exact same price dips that we see right now. And I can assure you, as confident as I can, the price is headed downward. It is headed steeply downward to the point it might get to being four zeros. How do I. Where am I getting my number from?
[00:46:11] The only thing now, I don't see the liquidity and price charting because they didn't. They haven't updated Coinmarketcap with any of their cited pro, as I said, central exchange price movement and volume. We don't see that information. It's not listed there. And we don't see the blockchains, token prices. We don't see that stuff because they are not. Because they're not competent enough to update Coinmarketcap, which is the go to for many of the wallets, trust wallet being one of them. So based on the exchanges that are left, that allow you to trade side of chain coin primarily on the Ethereum side, but also on the binance side, the lowest price I see is three zeros and five. That's just over half where we're at right now.
[00:46:55] And that's, you know, if you're. And that's Saitama. So this is one of the ones like gate of people who are trapped. They're not able to get any sort of movement on it. But within these different scanners, they're still treating that price as if it's part of cytochain which holds back cider chain's price movement from where it might go because people are still stuck on this atomic token. This is why I said, and I'll still emphasize they don't. He doesn't want this shit to succeed because he's not doing what's necessary to make it succeed. There are still scanners out there to swear this is a scam. And I've said it's not. It's just they're making stupid decisions that are holding it back. That's what's happening with sheet. Oh, too, you've got stupid decisions where they think they know what they're doing and they're just making a mistake after mistake and not asking for help. And they're stuck. And people are stuck. There are people that are stuck holding the tokens, holding the bags, and don't know what to do. I can't give any advice on these things. I am saying that some of these tokens that are holdovers from the 2021 run, they're being exposed, the Vaseline is off the side. They're being exposed, they're getting caught the pants down because they were not able to sustain, because during the best time for them to succeed, they still screwed up. Like that was the first part of this year was the prime time for them to hit the ground running and have some realized growth and they still couldn't do it. So then now we're going back down. It's even harder on them. And I'll throw bone in that category too, because the shift team is just as much screw ups as these guys are. Do I think things recover for some of these? No. But for bone, yeah. It's just going to take a long ass time. What we also are learning, slowly but surely we don't. The ones who are just saying we'll spin up a blockchain, what good does it do you? They're not getting any better. It's not giving them any additional traffic, it's not making them any more powerful. It's not making them any more price valuable. So what good is it? They're just doing it to say that they did it. Meanwhile, it costs a lot of money to spin up a blockchain. That's your money being invested for no real ROI. If you're fine with that, because you're a gaming runner, roll the dice. I don't criticize you this. I don't like seeing people get the tokens jacked or took or losing value, which is what's happening here on both of these. Both of these are in the same boat. To the point I almost thought it was the same developers under the hood. I just realized, man, the hitman is not that smart. Sheeto went further than cytochain did. Side of chain was a screw up no matter what it did. She know at least got to a point. And then they got this alleged hack. I can't say it really was, but the alleged hack. Sure, Xbridge got hacked, but with xbridge they didn't have as much damage as the shido side. But the problem is that with cytochain they made the stupid decision to leave pancake swap, which made it resonate as a rug pull on the scanners. So it was like stupid decisioning on cytochain side sheetle. We don't know if that legitimately was a hack or not. I am saying this is competence on both sides. And I'll implore you to be careful because there's just a lot of stupidity that we don't have the same brilliance that we had before. And it may just be people waiting on bitcoin. They're just sitting tight waiting for bitcoin and ethereum to run. I think it's a smart move if you want to do that as well. I am done talking about certainly side of chain. It's not worth it. It's not worth the stress. I may cover shido if they recover, but I don't think they will separately. I'm going to keep my own ethereum, because if it goes down to a point, I damn sure I'm going to stack that bad boy do do because it's possibly goes to five figures sometime in the near future, and I'm all on that.
