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Episode Transcript
[00:00:01] Speaker A: Welcome to Crypto Talk radio, the podcast for everyday investors like you.
[00:00:06] Speaker B: Visit us on the [email protected]. And now here's your host, lifester. Thank you for that, Bailey. And welcome everybody out there in crypto Talk radio [email protected] I have been through the desert on a horse with no name. Welcome back, folks, or welcome if you're new. My name is Leister. I am your host here, cryptotalkradio founder, cryptotalkradio net. We will be talking about a couple things on cryptocurrency, as well as one shady, scummy, slimy business that I think I should talk about. I don't want to. I don't. But I think it's worth mentioning it because some people may have got caught up in this business. And so I saw some people on coin market cap really pissed off and frustrated, and I understand that. I do. I want to do what I can. I can't do everything because I'm who I am. Let me give you a quick personal update.
Tomorrow afternoon, I have to take the car I'm keeping. There is a cool dude. He seems cool on the surface, anyway. Cool dude that's going to be taking a look and see if he can fix the one thing that's remaining on that one. And if that gets resolved, it might as well be a brand new fucking car.
So that's huge. There's a risk, obviously, but I want to see if we can get that thing solved and figured out once and for all for that. So that's on deck. The other is the car I don't want to keep. They reached out, said, hey, there's this free thing. We got to take it to a dealer, get that set up. And then I had to replace one of the parts that the original person I bought it from apparently neglected to notice it wasn't there. So I got that solved, and then I just have to test the obd port, make sure it's good. Once all that's done, I'm going to put a sign up to see if somebody wants it. I tried to do craigslist, and these jokers don't want to do email and screw you. I'm not giving you my text message phone. So that's our deck of getting the cars taken care of. Meanwhile, I've got the money moved in.
[00:02:04] Speaker A: Different places, but they screwed up one.
[00:02:06] Speaker B: Access piece, so I have to essentially wire funds to myself, which kind of sucks.
[00:02:11] Speaker A: But I'd set up payroll because under the IRS rules, you have to do payroll even though you're the only person.
[00:02:17] Speaker B: Active on the payroll. It's stupid. So I got to set that up. It's for tax reasons. Then redirect all of my expenses to the business because everything is deductible. That's the beauty of owning your own business, is everything is essentially deductible. You just got to figure out how to do it. So I want to funnel all of that money over to the business side so that all that's left over is really just your incidentals. If I need to buy a game. I did buy some games very recently, by the way, which reminds me, Dragon Quest Builders, the first one got unlocked on Steam. It's on Steam now. It wasn't on there before. They recently released on Steam that's coming out today. So if you're interested in those kinds of games, kind of minecraft ish games or role playing games, that's a hybrid. I do recommend checking that out. I have it on Switch.
[00:03:01] Speaker A: Loved it.
[00:03:01] Speaker B: Fantastic game. The one that's on Steam, it's half the price. And if you own part two, you get even a greater discount. So shout out to that one. I think it's cool. We're going to talk about some cryptocurrency nuts and bolts, and you may be looking at graphs, wondering what the hell is going on. And I wouldn't blame you for doing that.
But I want to dig into some of the things I saw that contributed, but also other stuff I saw as well. And I want to bring to light for you guys, just so you're aware, it turns out the radio. So cool tunes radio is one of our shows under the brand. We have a live streaming radio station. It plays oldies music, sixty s, seventy s, eighty s, ninety s, and British Invasion music. And then the podcast episodes are on syndication there. So the week after all of our episodes get broadcast from the prior week. So you get to listen to great music as well as the podcast episodes for crypto and casual. So that's cool. It got a spike. It had a significant spike. It was like a 400% spike in listeners. And I think it's because of an ad campaign we ran that's going to be around a giveaway that we're going to be doing. And the giveaway is connected to crypto. It's not directly associated, but it's connected to our triad membership. I'll talk about the triad membership at the tail end of the episode, just to refresh, because we may have some new listeners, in case you're interested in what this is doing, but it's essentially a giveaway is what it is. So I'm going to talk about that at the end after we get through all these crypto nuts and bolts and get those out of the way. But I wanted to give a shout out to Cooltoons radio. That's really cool, pun intended, to see that the ad and the giveaway that we're doing seemed to have stoked some interest. And interestingly enough, the vast majority of it's coming from Germany. I didn't expect that it's cool, but I didn't expect that. I also didn't expect that the vast majority of people would still be using Winamp. I thought Winamp was dead, and apparently the tool's not. It's changed, but it's not. It's still active and still running and kicking and people still enjoy a. It's a surprise to me. The last thing I'll talk about with this crypto business is I'm going to be giving some updates about the social media platforms. So we broadcast all of our different stuff to different platforms as current, we're going to be dialing back some of those interactions, not that we're not using them, it's just that they're going to be used pretty much just for our updates and nothing else. We're kind of getting sick of the social media aspect of things. So old effects, you guys. If you want to keep talking to us, join our discord, cryptotalkradio net discord. We always come there and hang out with some of our folks, including our tribe members. Shout out to frantic let's talk about some of the cryptocurrency that's going on and all the nuts that's happening.
You might have noticed that cryptocurrency Overall took a pretty steep drop very most recently. And I'm going to give you a little bit of advice, and it might seem a silly thing, but it's important.
Don't let the graphing company so all these different tools, whether it's trading view or Dex view or Dex tools or Dex, whatever tool you're using to look at graphs, I want to make sure that you always are focused on the bigger range. So almost all of them, not all, but almost all of them. There's a trick, there's a little bit of a scummy trick that they do, which is that they will almost always focus on the one day chart. I'm recommending to you not to heavily focus on the one day chart because the volatility of cryptocurrency tends to roughly run. I'd say it's greater than weekly but less than monthly. So if you're going to zoom out to anything, start with the one week chart.
I always start with the one month chart when I do the show, and that's where I'm going to be going here. And I use coindesk.com because it looks like a cleaner graph from my eyes. But start at least at the one week. Don't let the one day fool you, because if you look at the one day it looks like the end is near, it's not. It's fine. Because if you zoom out, that's what.
[00:07:12] Speaker A: You'Re doing to the one week, you're.
[00:07:14] Speaker B: Going to see that we are trending back upward from a dip that was, and there was a dip, but we're.
[00:07:20] Speaker A: Trending back up now as I speak, a low of 25, nine, just under 26.
[00:07:25] Speaker B: And then we got a high close.
[00:07:26] Speaker A: To 2700 and a strong sentiment overall. Referring to Ethereum, specifically on the bitcoin side, you're going to see something very similar in the graph movement. It's almost identical. What does that tell you? A low of 48, four ish, and a high of 50,400 hovering right now at 49 and $600. What does that tell you?
[00:07:49] Speaker B: It tells you that we did dip. Yes, this is true, 100%, but we recovered from the dip. You might be curious, well, what caused such a significant dip, such a significant decline in such a short period of time? There's a couple of factors that played into this one, but the main one people suspect contributed to this dip most recently is the CPI numbers for January that came out very recently. And that basically refers to inflation in the United States, where the rate was higher than expected. They expected that the inflation numbers were going to be back under control because they told you that they were going to control inflation better than they had done, and they sucked at doing so, which everybody knew was going to happen. So there were some expectations that weren't met. Bottom line, when the CPI showed a significant inflation increase above and beyond the forecast that were expected, it created a sentiment shift on bitcoin. And naturally you're going to see some people sell out of it, and that's perfectly expected. There was an expectation of a rate cut. The rate cut is not potentially not going to happen. We don't know where things are going to go.
[00:08:58] Speaker A: And the uncertainty creates basically a skittishness. People are skittish to leave money in.
[00:09:04] Speaker B: A largely unregulated asset with high risk. That's a risk mitigation.
[00:09:09] Speaker A: That's the reason why it recovered so quickly.
[00:09:12] Speaker B: It recovered so quickly because there are.
[00:09:13] Speaker A: Other people who are not phased by what happened, because they understand that everything is generally bullish. The blackrocks and the grayscales and the fidelity's and Aisha and everything is generally bullish. They are buying like nuts and everybody expects that this is a temporary blip. I will tinfoil and say the timing is rather ironic, but that's beside the matter. If you've been listening to the show for a while, cryptotalkradio net, you heard me say last year I'm targeting about February. Feel free to go back in the episodes. Or if you've listened passionately, you heard me say that just people come back. Give my credit is all I ever ask. When I call these things, and I'm not doing heavy technical analysis on it, I'm more of a sentiment analyst. I look at the voice that's out there and the sentiment that's out there and the shifts that are happening and decisions that are being made, and I use it to drive a theory, and.
[00:10:06] Speaker B: Then I work to try to substantiate my theory in one way or another. Bottom line, I had a theory that February was going to be the earliest we'd see any kind of significant move where remember q three and q four? People were telling you none of that happened because it didn't make any sense yet. It didn't mean that we weren't going to get there. It meant that it's a little bit too early. And I want to also emphasize, so people understand, that just back in January last year, remember, we were looking at prices of 12,000, 16,000, 20,000. We're way higher than this. Well, look how long it took to get to that point. I think people have an unrealistic expectation of the price climb. You will see much more of a rapid climb, I think, closer to and after the having. I'm saying that I think people had unrealistic expectations of the rate of growth, and I'm going to be talking about that specifically on bitcoin here momentarily. Suffice to say, when this index basically did not give us what we expected, and we saw that inflation was higher.
[00:11:11] Speaker A: Or was growing more rapid, I should.
[00:11:13] Speaker B: Say more accurately, a little bit higher, it tells us that there's a lower probability that there's going to be some rate cuts. Lower probability of rate cuts causes, again, sentiment shifts in the wrong direction. This had a ripple effect. If you look at bonds, if you look at stocks, if you look at commodities markets, everywhere is slightly in the red, but not greatly in the red. They did dip, but I suspect they'll recover. I suspect the vast majority of them will recover and go back in the green, and it's a temporary blip. So I would not be concerned.
Again, I'm going to tinfall it. I'm going to tinfall it. And I think I've got some more people on board with my tinfoil because some analysts are starting to point out and saying, you know what? This inflation timing is kind of suspect. Right when bitcoin broke of $50,000 for the first time in a couple of years, feels kind of like a rug pull.
I just want people to come back, give my credit. That's all I said. Just come back, give my credit. When I call these things, man. That's all.
I'm a simple individual. I just want what's due to me. That's all I'm saying.
[00:12:20] Speaker A: So now, bitcoin, what does this mean again? I think we're going to recover, and.
[00:12:25] Speaker B: I think it'll be okay.
There are analysts that estimate bitcoin is going to have another dip before it goes on a major run. Some people are estimating a dip as low as $30,000. I find that extreme. I'm not saying it's impossible. I'm saying I find it extreme. A 30,000 dip from where we're at now is a significant shift downward. And I think what people are really looking at, generally speaking, is a sense of really fomo, that there's a fear that they want to get ahead of a crash that they anticipate. I was noticing on X. This is one of the reasons for my update of getting away from this crap. I was noticing on X that crypto crash started trending. I looked at the trend and it's just a bunch of random mother fathers that are posting a random bunch of garbage that has nothing to do with cryptocurrency at all. It was something out of Korea, I think. I'm not sure, but it had nothing to do with cryptocurrency. And yet it's trending. So I knew that X's algorithm is flawed, it's jacked up. And I remember there was other trends that people were trying to get trending during a conservative message, and they were being suppressed by X. And so now this garbage trends and has nothing to do with source material. So I think this may be a strategic attempt to get people to sell. I'll talk about this a little bit.
[00:13:45] Speaker A: More here in a moment, but I.
[00:13:47] Speaker B: Think it's strategic, as in they're causing.
[00:13:49] Speaker A: The trend because they're causing people to FOMO, which is causing people to sell.
[00:13:53] Speaker B: Which is causing some of the red.
[00:13:55] Speaker A: And the people possibly doing it might.
[00:13:58] Speaker B: Be doing it so they can buy.
[00:13:59] Speaker A: In at a lower price. Tinfoil though I may be, I find it rather suspect to see the word crypto crash trending on x for no damn reason, having nothing to do with a crypto crash. Shortly after bitcoin hits the 50,000. And then we start seeing these dumps coming out of fear, likely of something larger. Well, is it possible that something instigated those cells?
[00:14:21] Speaker B: I can't say for sure.
[00:14:22] Speaker A: I'm just going to tinfall that and leave it as it is. The long term sentiment on bitcoins remains.
[00:14:26] Speaker B: Strong, and I want to reassure you.
[00:14:28] Speaker A: I have no concerns with anything I'm seeing. And it's possible that some people will live long enough to see bitcoin exceed a million dollars per, because once you.
[00:14:37] Speaker B: Get to a certain level of scarcity, and assuming the demand. Right, price and demand, I see that could happen.
How soon? I mean, we're far ways away. That's why I said people living long enough to get to that point. So if you have kids, those listening to the show, if you have kids, maybe they could benefit from it. Of course, inflation and printing and printing, printing might negate the value of that amount of money. But who knows? If you're bought into bitcoin, I think you're okay. I guess that's my point. If you're bought into bitcoin, I think you're fine. If you're bought into alts. So you're bought into alt. Still avalanche polygon, right. If you're bought into alts, I don't think everything looks as rosy as bitcoin. And the reason is a silly reason.
People believe that with bitcoin, as people make profits on those, that the money is going to flow down to the others.
I think it's a little bit simpler than that. I think money flows directly to those. And the profit from there, because it's more substantial for the retail side, flows.
[00:15:45] Speaker A: Back up to bitcoin.
[00:15:46] Speaker B: Let me follow up with why.
[00:15:48] Speaker A: I think that's the way it flows as opposed to the other direction.
Part of the problem with bitcoin is its price. Its price is already high because it's already high.
[00:15:57] Speaker B: The profit potential is there's a glass ceiling to it.
[00:16:01] Speaker A: So you really would have to invest a crap ton of cash in order to make a crap ton more. It's not like with Ethereum or Solana or any of these other ones and some of these alt crap tokens or something where I theoretically could put $1,000 in it and ten x it fairly easily.
[00:16:16] Speaker B: Like you're not going to be able.
[00:16:17] Speaker A: To ten x your bitcoin anytime short. And even if you do, again, you'd have to throw a crap ton to.
[00:16:23] Speaker B: Make it worth the while.
[00:16:24] Speaker A: It's not like say, bitcoin itself. I'll pick on bitcoin because it's easy bitcoin right now, let's say if it hits $49,000, what's the probability it's going to $490,000? It's not high in the short term, anytime in the next decade, I would say. If you can wait that long, then it's probably okay. Most people are not that patient. However, there are tons of tokens on the Ethereum and salana chains where tossing.
[00:16:47] Speaker B: $1,000 can easily make you $10,000 or 9000 profit. So what are people more likely to do? That's my point. They're more likely to go where the profit is available smartly. So I'm not suggesting anything other than the math of it. There's all sorts of variables. There's the perpetuals trading and futures trading and everything else that I'm not getting into margins, I'm not getting into those as other avenues for profit. I am saying that from a simple layman investor perspective, the logic is smarter to go after a token that is not as high priced, but has the potential to skyrocket in the short term, which I believe lends credibility to so many of these tokens jumping in price, as opposed to other ones that are kind of level and flat and crapping. That's my theory on what that means.
Crypto dollar. We're going to talk about some news now. Crypto dollar has a minting protocol. And what they're trying to do is to allow essentially banking institutions, but it's not just them, but essentially banking institutions, to issue stablecoins backed by the US treasury.
This is an intriguing concept when you look at it, because they're connecting it.
[00:17:58] Speaker A: Very closely to what we used to.
[00:18:00] Speaker B: Do in the minting side. So when we talk about the mint.
[00:18:04] Speaker A: The US mint, it's close in what it used to be back when everything.
[00:18:10] Speaker B: Was a promissory note. And they're trying to connect the dots between these two.
[00:18:14] Speaker A: So the idea is what you can.
[00:18:17] Speaker B: Do as an institution.
[00:18:18] Speaker A: So let's know a kraken or something you can actually mint and issue stablecoins.
[00:18:25] Speaker B: That are backed by treasury bills, us treasury bills.
[00:18:29] Speaker A: Well, if you do now, there's others that do something very similar, and I was intrigued to see them try to take on this that's tying it to actual us treasury, not just the bill, but the actual treasury. That's a different connect that makes it potentially a little bit more stable. Can't say that it does. I said it potentially does.
There's a lot of differing opinions about whether this is even feasible or viable. What people think is if you take.
[00:19:01] Speaker B: Liquidity and you treat it this way, it's not going to maintain its stability. That rhymes. I agree with that thought process. I agree with the idea that the stable coin, I'm not a fan of algorithm in the first place, but if you are going to peg it to something, I would rather it be something that is a known asset class that we can trust. Not just magic numbers, magic Internet money, as algorithmics are, in my personal opinion. So I'm on both sides of the fence. I understand the concern of you're kind of marginalizing liquidity, and I understand that. But also, if you can confidently peg it to something around an actual fiat, even if it's not direct, but it's still connected to a known asset class connected to fiat, I'm supportive of this. And I think that that makes sense. It also opens the door, if you think about it, to ease your interoperability between cryptocurrencies. So one problem you have with, let's say, USDC, USDC. In order for it to work as a pair. So let's take out the central exchanges, let's just talk, descend. In order for it to work as a pair, and you want it to be cross chain, you basically have to extend it to each variant of USDC on each chain. It's not like there's one USDC that just interops straight away. There's different variations of USDC across each chain on purpose. Same with USDT, same with Dai. And Dai presented itself as the solution, but it still has to be chain specific, which is its flaw. It requires more in order to make that all work.
[00:20:43] Speaker A: You can't just have a single pool.
[00:20:45] Speaker B: The exchanges, the central exchanges are what.
[00:20:48] Speaker A: Solve that problem, because the coins, all of them are in a central pool. The SEC doesn't really like that because it's what commingling of assets. You can't have one without the other.
[00:21:00] Speaker B: You can't have a single pool without commingling.
[00:21:04] Speaker A: And you can't have separate pools and then share a single liquidity. It doesn't make any sense.
What they're saying this can potentially do is it doesn't matter about the holding of assets as you need it in.
[00:21:18] Speaker B: Order to affect trade, even on a.
[00:21:20] Speaker A: Descend side, you simply just mint as you need to conduct the transaction.
[00:21:24] Speaker B: That's why it was compelling, because if.
[00:21:26] Speaker A: You'Re doing it around again, a known.
[00:21:28] Speaker B: Trusted asset class means in theory, we.
[00:21:32] Speaker A: Should be able to have full traceability end to end. And you don't have the limitations of being forced to have the pairs already exist on the chain for transactional purposes. It just is. So a person who wants to buy a token, it doesn't matter what the.
[00:21:47] Speaker B: Network of it is.
[00:21:48] Speaker A: The liquidity is from a single source that they can mint on demand. The risk is inflation. Right.
[00:21:54] Speaker B: So I'm going to keep my eye.
[00:21:55] Speaker A: On this one because I like what they're talking about. Conceptually, I'm going to keep my eye on it, but I don't know. I'm not really sure on that one. It's kind of an open air thing that's got my eye more. That's about all I can say about it.
[00:22:11] Speaker B: Meanwhile, I talked about the whole etfs with bitcoin spot and then the Ethereum ones coming up. And I talked about how there are a lot of rich mother fathers who simply don't want to hold cryptocurrency to them. It's too much risk. They don't want to expose themselves to that risk. And so having these etfs provides them exposure. And I have bitq, I've got bitwise. I think somewhere I've got the fidelity one, I've got all these other ones that are just kind of in different places because I wanted to have some of those low risk, non directly exposed asset classes out there. And here's the funny thing. Side note, I diverge a little bit. If you didn't know, some of the tech stocks are crapping right now and people are essentially yoloing into financial stocks. What's happening is that they're expecting that there's going to be a tech bubble. They're expecting that some of these tech companies are not sustainable. And part of this was fresh off of announcements of layoffs that were happening even after major movies and all these things were happening. And then the whole WWE and the Vince McMahon fiasco, that people are just expecting that. Because what happened as a byproduct of this is the whole Netflix deal. And Netflix is connected to this other thing. And then Amazon, if you didn't know this, this is getting in the weeds. But it's a bigger deal. Amazon signed a deal with Premier boxing champions to handle their events because Showtime and HBO got out of boxing. And so now you've got these tech conglomerates of the Amazons and the Netflixes and everything else, but it feels like it's, to people, it feels like it's a bubble that's ready to pop. And so some of the tech stocks took a major hit. Well, I had some Nvidia stock and some AMD stock. I had sold the AMD stock just before this crap happened for a different reason.
[00:24:03] Speaker A: It was a different thing.
[00:24:04] Speaker B: I did it because I was going.
[00:24:05] Speaker A: To buy into something else, and I.
[00:24:07] Speaker B: Forget what it was, but I had sold out. And then I saw this news that everything was crapping out and going all nuts. And then I saw another news saying people are going into financial stocks as opposed to the technical stocks.
It's actually very similar to what's happening in cryptocurrency, where people are just jumping from project to project because it feels like people are trying to mitigate losses based on the news. So instead of buy the rumor, sell the news, people are actually buying the news, which is totally opposite of what it used to be. I call this out because it will affect cryptocurrency in some way, because cryptocurrency is essentially a tech based asset, meaning some of the technology companies that are in play could potentially have some kind of exposure to cryptocurrency that may affect an investment that you have, whether that's direct crypto or indirect crypto. So, like BitQ? Bitq. All it is is you're investing in companies who happen to have cryptocurrency as part of the portfolio. So it'll skyrocket like crazy with these pumps. But as the tech stocks start to get hurt, if some of them are part of the pool, then it's going to offset the gains. That's what I'm talking out, and I'm sharing that because I want to make sure you understand what we're seeing with some of the price dips did not just affect cryptocurrency, but it has a downstream impact on cryptocurrency assets and investment.
[00:25:31] Speaker A: That you should be mindful of.
[00:25:32] Speaker B: So don't just look at one chart on the crypto side and call it a day. You're going to want to get to a point where you're looking at your portfolio. Portfolio is a broad term stocks, bonds.
[00:25:44] Speaker A: Cds, your bank account, regular bank account.
[00:25:47] Speaker B: Savings, checking, money market, whatever, 401K, IRA.
[00:25:50] Speaker A: Everything, every single thing.
[00:25:53] Speaker B: You're going to want to look at this as a 360 degree portfolio view. So you can understand how some of.
[00:25:59] Speaker A: These events are affecting your assets, not just your crypto, not just your whatever.
[00:26:05] Speaker B: But your assets overall.
[00:26:07] Speaker A: They're all interconnected. They shouldn't be, but there are, and they're getting more so because the other part of this is that people speculate that some of these companies are going to start adding cryptocurrency to some of these other classes. The bitcoin at least because it's now kind of okay as part of an ETF, which is nothing more than a pool. Well, if it's okay as part of.
[00:26:27] Speaker B: This pool over here, that's just bitcoin.
[00:26:30] Speaker A: What's to say it's not okay as part of this pool that happens to have other asset classes.
[00:26:34] Speaker B: So be aware, you might be investing.
[00:26:37] Speaker A: In something that has exposure to the cryptocurrency side, which means the value of it is subjected rather to the whims of all this disruption. And you should be aware of it and mindful of it at all times. I diverged a little bit because I.
[00:26:51] Speaker B: Thought it was important. Also, it connects to my next bit.
[00:26:54] Speaker A: Of news and my final bit of news, which is a survey was done very recently talking around cryptocurrency. Given the price movements that we see.
[00:27:04] Speaker B: To try to see if these companies were going to be interested in getting in cryptocurrency now. And some of these were companies that bought in back in the runs of 2000 and 22,021. Some of them are brand new. They surveyed 4000 traders and they found that roughly 78% of them don't plan to trade cryptocurrencies. 78% out of a 4000 pool don't plan to trade cryptocurrencies. So essentially just over 3000 out of 4000 don't plan to trade cryptocurrencies. I think it's a pretty good pool and it should tell you a couple of things. It should tell you what I've said is the truth that people don't believe cryptocurrency is not mainstream. I've said that before. The media presents it as mainstream because of Jim Kramer and stuff. Almost cussed. Cryptocurrency is not mainstream. It's not outside of the bubble. Cryptocurrency is seen as a niche asset class. Cryptocurrency is seen as highly risky. Cryptocurrency is seen as highly volatile. Cryptocurrency is seen as the cool kids play toy, which essentially it is. Kids say the word jeep, say the word keck. This is all true. And so real people, people outside the bubble, they understand that. They understand the perception and they avoid it. And I've said all these projects that essentially died during this bear run, never understood. Like everrise is a great example. They don't understand these people, the real people outside the bubble. That's why you've heard me say outside the bubble so much. Those people don't think like these people who are building, and these people who are building never put themselves in the mind of somebody outside the bubble. They're just stuck in the bubble. Yeah, telescope is fine. They don't get it. They don't get it. And because they don't get it, it has caused less people to want to buy in the run up. Now, this explains why the money that's flowing in essentially is the same pool of money it's always been. We've not gotten more money or new money in cryptocurrency. It's just the same money that was there before. That's not necessarily a terrible thing, but it's not as great as it really could be. Roughly 77, not 77% of the participants even see blockchain as influential.
Back in 2022, that number was roughly three times what it is now. When we think about blockchain and its influence or potential influence, the applications are broad. The applications for gaming, the applications for.
[00:29:38] Speaker A: Medical, the applications for financial.
[00:29:41] Speaker B: The reason so many less people see it as influential is because none of.
[00:29:45] Speaker A: These industries have taken off with it to a significant degree, with the possible exception, to a slight degree, not a great degree, slight degree of the medical system. There are also some content systems that use it for storage. But speed is a problem.
[00:29:59] Speaker B: There's all sorts of other issues where.
[00:30:01] Speaker A: It'S never been mainstreamed in the blockchain space. And gaming, I've said, is the one killer app I think could use it. That doesn't heavily leverage it.
[00:30:11] Speaker B: So what does this all mean? All this data, all this number, what does it all mean?
Bottom line is this, if we don't do a better job of getting rid of the kids that say the word jeet and say the word keck, if we don't figure out how to bridge to mainstream and appeal to people outside the crypto bubble, if we don't figure out how to make it more accessible to buy crypto, because I do believe part of the numbers we see is because it is not as easy as the bubble will tell you to get into cryptocurrency. I said, you should be able to go to your corner store with that dirty dude at the bar or at the drugstore or whatever, or to your bank and just buy it straight. No id, no voice, no cell phone. You just buy it with cash and whatever the f. When it gets that simple, you're going to see this percentage jump. I think it's declining because they realize there's just gates being put up and your sec is not making it any easier to do any of this stuff. That's my theory and I stick with that. I could have that totally wrong. But how else can you explain it? Because there's nothing else. If the price is not enough to entice them, if the media is not enough to entice them, it can only be they can't even figure out how to get into this crap and they can't figure out how to get past all this. And probably some of them don't even have cell phones. Kudos to them. I know that's hard for some of you to believe. The truth is not everybody has a cell phone. So when you tie it to a.
[00:31:38] Speaker A: Cell phone of yeah, you got to.
[00:31:39] Speaker B: Do a selfie to take your picture, to do KYC. They're not going to do that crap.
[00:31:44] Speaker A: And we need to stop it. It should just be, I walk in.
[00:31:47] Speaker B: The store, I give the cash, I.
[00:31:49] Speaker A: Get the code and get the thing. And that's how people, certainly older people, who's where the money is. That's how they work and that's how they think. Not appealing to the young who don't have the money, period.
[00:32:02] Speaker B: So let me wrap up my episode with something I saw on coin market cap. I alluded to this when I started and it disappointed me, but it did not surprise me. And the only reason I'm discussing it now is because I think there were so many people that got pissed off by what they saw, it started to concern me ever so slightly. I mean, I do think it's a little bit of overreaction, but I understand the overreaction and I understand why this is dangerous. Boneshibaswapshib leash bone specifically. I allegedly am a bone whale, so I'm qualified in this matter. People have been questioning, why the hell does bone not climb? Why the hell is bone not getting any of the runs? Why the hell are we at a $1.84 trillion total market cap across crypto? Why the hell are we at a $50,000 bitcoin? And yet for whatever reason, bone is just going down. Down.
I have a theory, I have a working theory. I can't prove it, but I see too much evidence for it to be circumstantial.
I believe there's a strategic attack on certain cryptocurrencies to entice people not to buy into them and instead to buy into their own garbage, which is likely on a pre sale. So you've probably by now seen at least one ad about this Reddick finance, which I'm not going to do analysis on. You may have heard about Launchpad XYZ, which I'm not going to do analysis on. I am getting close to doing a video for a different reason, but not analysis I will not do. There's another one called Algotech, and it's a pre sale. These are all okay. That's the pattern, number one, pre sales, just like meta Cloud and just like OpenStreet World and asset Ascent protocol forever financial freedom and all these other ones that do pre sales, whether they're pink scam or not. The point is the pattern of these are that they're presales and that they're paying for advertising to get on these platforms like a coin market cap, essentially to talk about their presale and talk about how great their crap product is. But they also make these snide remarks that are designed, I believe, to depress people's interest in Shib and bone and leash and certain other ones. So where did this come from? I have to give you a little background. Coinmarketcap, they use an aggregator, so it goes out to these other services in order to find or poach their quote news articles. And they position them as quote opinions.
[00:34:43] Speaker A: Or quote contributions by the community. What's really happening is these are paid articles.
[00:34:50] Speaker B: They pay to have these articles put out. And it's a form of advertisement, because.
[00:34:55] Speaker A: What they're doing is they're putting it in front of you, I mean the original company.
[00:34:59] Speaker B: So algotech, in this case, they're putting it in front of you by way of CoinMarketcap and other platforms that you may be using.
[00:35:06] Speaker A: And Coinmarketcap presents it as if it's one of their trusted editors. Let me remind you, Coinmarketcap doesn't have any trusted editors. They simply go and post whatever's shown everywhere else, irrespective of how ethical or not it happens to be. So I noticed that one of these.
[00:35:22] Speaker B: Articles popped up and it's around this algotech garbage. And it says, the title says, quote, algotech, presale, rakes, in days as investors make back losses on manta and Shiba Inu. Well, that's an interesting title. And the first question one should ask, and I encourage you to ask this question, is what the hell does algotech have anything to do with Shib or Manta for that man?
Okay, I'm not going to dig too deep into manta. It's a different project. I'm not going to dig into it. It's not relevant. I'm going to focus on shib. Shib, the only commonality between this algotech crap and Shib, the only commonality is the mention of a bridge. That's the only commonality, period. Because algotech, all it's doing, according to its own article, almost cussed there. All it does is, yeah, there's going to be a blockchain. There's not. Now there's going to be allegedly, and it's a descend trading platform, Shiba swap.
[00:36:30] Speaker A: Right?
[00:36:30] Speaker B: That's all it does. So why would you mention it in this article? And then why would you mention as make back losses, quote, make back losses on these other projects?
I see a number of these where.
[00:36:44] Speaker A: They'Re making these snippy little remarks about.
[00:36:46] Speaker B: Well, you got crapped on bone, you got crapped on ship, you got crapped on leash, you got crapped on this.
[00:36:52] Speaker A: To set it in people's mind to dump out of those projects and buy.
[00:36:56] Speaker B: Into this new presale. See, it's a very shady tactic that they're doing, but that's what they're doing.
[00:37:03] Speaker A: So if you're curious why your project might be crapping, irrespective of the climbs of bitcoin and the larger market cap, it might be that people are simply being influenced by these articles, or dare I say influencers, they might be getting influenced to take action contrary to the other strategy. I also said that just holding isn't smart. So it's not that I'm criticizing the sell, but if they're only doing it because of these crap articles, I would have a problem with that. If you're going to do it, do it because it makes sense for your portfolio. Do it because you're taking profit. Do it because your project is crap, but don't do it if that's happening, I can't say it is. But if you're doing it because of these articles or these influencers telling you that your project is crap and that you're losing and you should buy over here, that's car salesmen, that's snake oil salesmen. That's the worst. The shadiest, that's what the lockpay and the safejets and the safe foods and all that garbage, that's what they were doing, is basically trying to poach people's holders, and you end up losing, because almost none of these presale ones last. In the long term, I can go countless down the list. Almost none of them last.
[00:38:13] Speaker B: So if you're a gambler, I'm not telling you what to do with your money. I'm not in your wallet. I'm telling you that these. I think it's strategic. I think they're doing it to get people to not buy into those projects they were already in and instead buy into their project. I don't agree in that jumping robbing Peter to pay Paul mentality. If you choose to do it, you choose to do it. But I think it's strategic. I don't think there's anything wrong with your project. I don't think there's anything wrong with bone. But I do think that some people are getting impatient because of the failures of the team. I do think some people are and tired of it not getting listed on binance. And there's another whole story behind that. I think some people are sick and tired and they see these quick profit crap tokens showing up, and they're jumping to those. And I understand if that's what you want to do. I'm saying if your sale was triggered off one of these garbage articles, or some influencer telling you or trying to influence you to sell your project, I don't agree with that necessarily, because I don't think anybody should be convincing you you should be doing it because it's the right thing to do for your portfolio. So that's just my message on that one. I can't say for sure that's what's happening. I'm saying I see a pattern and I find it tenfold though I may be, I find it rather suspect to see these coming out roughly around now. Meanwhile, everything looks great. Cryptocurrency, I maintain. I think the $2 trillion total market cap is a great target for a true sustained bull run. Should we get there? 1.84 trillion, as I record this, and potentially trending upwards. So we ate up whatever happened before, but as I said, it's not new money. So until we can get really, truly new money, I don't think we're going to have the strong run that everybody expects, but take profits for when you can. This is an opportunity to take that profit. You deserved it. It's been a long time since we had a sustained run like this. Thank you for listening to today's episode. Just a quick blurb about our triad [email protected]. At the top hit triad to give you a little bit more information about our pricing tiers for the Triad membership. It's a membership program it's going to tie to a giveaway that we're going to be doing here over the span of 2024. I think it's going to be pretty fun, and being a member is going to be one of the requirements. You'll need to be a member of our top tier for the triad. So our radiance tier. So if you are interested and like more information, join us in our discord, cryptotalkradio. Net Discord. And we're happy to give you more information about that one. But it's a great way for us to spread some of our good fortune back to our followers and have some fun at the same time, as well as enrich you from a musical perspective. So if you're all about some of the classical music when music was good, not the crap that comes out like this Taylor Swift garbage, then you definitely want to check this giveaway out. I think it's going to be really fun. If you already know your music, you're already a shoe in. So cryptotalkradio. Net. Hit the try it for more information on the page you have any questions, join us in discord. Cryptotalkradio. Net Discord.
