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#SaitaChain’s Manpreet Kohli (Manny The Hitman) Granted Conditional Bail
#Crypto #Cryptocurrency #podcast #BasicCryptonomics
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Episode Transcript
[00:00:01] Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the [email protected] and now here's your host, Leister.
[00:00:13] Thank you for that, Bailey. And welcome everybody out there in Cryptotalk radio [email protected] I'm excited. I'm stoked. I am sitting in my great room right now recording, which was not the plan. Normally when I record the show CryptoTalk FM, I am recording in what will be my office. I actually have a dining room. And I'm in the process of doing renovations across the house. And that's going to be the office once I get it renovated. But I realize there's a lot more to this than I thought. So I'm going room by room. And unfortunately, I realize I really need to get the freaking kitchen in order. Starting with a patio door. I can't do that until I do the electrical. I can't do that till we fix the rewiring. Once I get all that done, then there's cabinetry and moving the fridge and moving the service panel. There's all sorts of stuff that I did not want to have to do this quickly, but I'm going to need to do it because the wiring is jacked up in that room. For some reason. They, the previous people, they turned that room. It is clearly a dining room. And yes, it's grossly oversized. I can see why they did what they did. It's grossly oversized. I would argue the dining room is as big as the master bedroom, which is a joke. I get it. However, I. I'm not a fan of what they've done where they, it. They clearly jury rigged the wiring together to where the whole, you know, the whole.
[00:01:44] Let's see, north third. I think it's north. No, west third of the house completely shuts down anytime there's a problem. Two of the outlets spaz out and lose power for no reason. I don't know what's going on. It's possible that the outlets are wired wrong because I did have an electrician take care of those. But then some of these other ones are perfectly fine so that I have to take this in phases. The electrician scheduled to show up tomorrow, he's bringing some girl. I don't know why, because, you know, I'm one of those where I'm like, I expect you to be two greasy dudes showing up in my place to work the electrical. Not a girl.
[00:02:21] I'm kidding. Okay, so I'm not kidding, but I'M kidding. Anyhow, I got to get all this stuff sorted out so I can get the kitchen sorted out so I can get the freaking dining room sorted out so I can get my stuff situated. So in the meantime, I realized, Mike, that I'm using that room as storage right now. So I'm tossing stuff in there because I have no other place to put it because until I finish these renovations, I don't have any storage space.
[00:02:44] So then it occurred to me, let me just go ahead and set up my stuff in the great room because that's now where I spend the vast majority of time. It's where I do the office stuff, it's where I do my personal things, some research things. So I've got the audio set up, it's tied into my really cool looking side table and I've got to clear off the top of it, put my magazines out there. So it's throwback. And I'm just going to do this now for the recording of the episodes and get them uploaded. So that's my plan and that's what I've been busy on. This room is not planned to be my studio, but for right now it's the studio. It's the quietest room in the place. You'll be able to tell that audio quality is there top notch. And I did notice some things on some of the YouTube folks. I'm going to be talking about that here shortly on today's episode. But we are going to dig in, you know, with the price chaos that's happening here. We're going to talk about a couple of news bits. I have quite a few articles. I'm going to kind of run through some things that piss me off, some things that I think are of interest and kind of just one by one knock them out as we go. And I appreciate anybody that's new welcome, by the way, and if you're long time, welcome back and thank you for being a long time listener. CryptoTalk FM is now official on the site. You can check that out as well. Meanwhile, let's go ahead and dig into this nonsense going on coindesk.com we are going to zoom out to the month chart and you already know what I'm going to say, don't you? We took a crap, folks, and I think it's temporary, but we did take crap. We took quite a bit of a dip. We lost the hundred thousand mark. We didn't go positive. Various YouTubers were telling you that we were now en route. We hit the level, we break, we broke 100,000 level. And we were going on the way up and there was no thing stopping us. Now that's what they told you, right? And I've kind of been not bearish. I'm just very, I'm very conservative. I don't believe in this narrative that everything is just going to go up and up and up and up and up. And I never have and I never will. I just think that there's more to this and we have some more time to go before we see the run that we expect it to. So I'm not surprised by the dip. But we'll start with bitcoin anyway and talk it through. A 24 hour low of 94,000 bucks. 24 hour high of 98,000 bucks. Currently sitting at $97,000 with a downward, strong, downward trend. Somebody estimated $93,000. I don't know that it's that extreme, but when I saw 94,000 as a 24 hour low, certainly it is plausible that we could go back that low. It just feels abnormal. And others couldn't explain what was going on. Like I, I heard a couple people, they're like, I don't, I can't explain it. I can't explain what's happening. I can't explain what's going on. I can, I can't give you specificity because I wasn't looking at the raw numbers. But I can tell you at the high level, a lot of this is liquidation activity. Basically you had a lot of people, what happens is they bank. It's gambling. You roll in the dice and so they gamble on a price target. It's called longing. Not longing for your, your dog. I'm talking long. You're going long. So some people said, we're going to toss some money and borrow some money, borrow some cryptocurrency and we're going to long it. We're going to say that this is going to hit, let's say 110,000 or 115,000 or some arbitrary target number. But it's gambling because you don't know if it's going to hit that. And then what happens when there's all these longs? It creates pressure on the market because what you're doing is that supply is being borrowed. It's, we're borrowing these assets and we're saying we expect all that to go up that high and then they take the profits and then they recoup and pay back whoever it is. Well, there's still the other side. There are people that there's all sorts of sell pressure happens all the time. We don't expect significant sell pressure, which is why these people are confident enough longing the cryptocurrency in the first place. They expect that we should be on a pretty consistent upward trend. But you can never discount the reality that sometimes there's just this enough bearish sentiment to crash the market at just the wrong time. When that happens, that cryptocurrency that was borrowed, it's got to be paid back and give those assets back to somebody. And so you end up getting what liquidated. And so that's what happened here. There was a significant amount of liquidations that occurred because a lot of people, unfortunately were long on things. You also have liquidations the other direction, right. You have some people who gamble that something will go down to a point and then it runs up. So there's kind of a duality going on. If you look at the 24 hour low, we know for a fact these had to be people when it hit 94, these had to be because of all the liquidations all the way up from that 94 mark up to the 101 or 102 that we hit that were on the long side. And there's just cell pressure. And then it's a cascading effect, it's a domino effect, brings it right back down. We're going back up now and it's pretty decent, but it's a downward trend is my point. Which tells me you could have some of that on the other side where they're shorting it and they expected it. So they see that it was trending downward right to the night, to the 94, towards the 94. And they go short and they say, okay, 93. Right. Like I was telling you, some of the YouTubers are telling people, and there are some people stupid enough to just listen to youtubers toss a short in there and say, yep, it's going down to 93. Deep, deep, deep. And then what happens? We hit the 94 again and then it bounces off, goes back up, and then those people get wrecked on the way if they hit the threshold. That's why I call it gambling. And anybody that does not call it gambling is deluding themselves or they're lying to you because it's gambling. That's exactly what it is. You roll in the dice, hoping that you crack it. That's all cryptocurrency is ever has been, arguably will be at this point. Because you're gambling, you don't know what's going to happen. You can't measure or bank on, you know, consistent success. There's always going to be ups and downs. But I'm talking, when I say success, I'm talking that we don't see like bitcoin going to 12,000 bucks again. You know, could it happen again? Yes, we don't expect it to. It's the point. So that's an abnormal, that's an aberration. We don't expect to see significant drops at any time. We do expect to see peaks and valleys because that's normal trading behavior. And we do expect to see that people are going to get wrecked along the way of this journey. And we do, or at least I do tell you, make sure you take profits at these opportunities however you do it, because we know it's tending to happen and we don't want to see you get stuck in that. Now, the irony is that during this complete disruption, we saw Ethereum, which recently had gotten over the $4,000 mark, took a crap. It took a significant crap. A low of 3,500, a high of 30, just shy of 3,800, currently hovering around the 3,600 mark. Strong downward trend. But it took so long for Ethereum to get to that point. And then all of a sudden, because bitcoin screwed the pooch, now Ethereum suffers again. And then all the other tokens on the Ethereum chain that were finally seeing some success, like Bone. Bone got to like 73, 74 cents. And you know, I say that, but it's still pathetic when you think about the fact that Its peak was 3, 3 and some change. Bone could never get anywhere. But it took ethereum getting over 4000 bucks to finally see some positive price movement. And then this happens, and then Bone craps again. And now it's trending back downward towards the 38 cent mark. And people are pissed off and frustrated. But that it, it echoes my point. It's like Bone can't do anything if there doesn't do anything. And I said that the run on bitcoin may not be sustained if Ethereum does not run. If I don't see Ethereum run, I'm not seeing that it's a sustained run because normally you're going to see money flow both directions. In this case, it really boil down to Bitcoin. At the end of the day, recovery is almost guaranteed. But now we've lost a lot of momentum and there's a lot of skittishness out there in the business. And so you have to watch and be Careful with your trades. And this is why you do that.
[00:10:31] Cardano, very recently their X account got hacked, got breached. Of course, it doesn't surprise me, but you got to ask yourself, these are technical people, these are people that work technology. Would you trust people with technology who just get their stuff breached? Because you see this happens all the time, right? And it always seems to be X. But would you trust them with your technology? Is the question. I've been bullish on Cardano, but I was told the CEO is a and perhaps this is what it is. Cuz they just got breached and it is what it is. Well, they came out and they said, you know, this is a joke.
[00:11:02] Apparently the X account was being used to pitch scams on the Salata chain as an official account. So you know, this is people were saying with the whole Mario flipping off, you know, for the Nintendo and all the ver. When the verification first came out and all that, they said that this isn't really verifying anything. And I've said this doesn't verify anything because it's not even that you're collecting money, it's not even the ID verification. It's not that you are or are not a celebrity. Because I never agree with this idea that only celebrities could be verified. What I said is that verification should have nothing to do with the money you pay and it should have nothing to do with your notoriety.
[00:11:40] It should have everything to do with who a human who is verifying that the person behind that account is who they say they are. At the end of the day, that's all verification should be. You are a validated person. That's going to require a human staffed on the Twitter side. Not technology, not about money. It doesn't really matter. Then you create different levels of verification, right? You say you're a standard verification, which means I know who you are. Like a Tier 1, I verified your identity, I know who you are. Another tier should be a celebrity verification, which is not only do I know who you are, I verify that you are the celebrity that you say you are. Right? Because you know, somebody says that they're Brad Pitt. I actually knew somebody worked technology names Brad Pitt and I gave him jokes about it. He's obviously not the celebrity Brad Pitt, but I can verify his name was Brad Pitt. I saw his license. But there needs to be a different tier of verification for celebrities to say you are indeed the Brad Pitt. That is the celebrity Brad Pitt. That's well known Brad Pitt. And that's another tier of it. Another tier should be government that is not federal government. So we're talking state governments, local governments, county governments, et cetera, city governments. There should be a tier of verification for those entities as well as the employees for their employee accounts separate from their personal accounts. Then you go to federal government, they should have a tier of verification. Then you should have the employees of the vendor. So in this case, X should have its own tier of verification. Like you should have multiple tiers of verification along the way. In something like this one, they have the organization verification, the product, the organization verification, and similar verifications that you offer so you can do affiliate verifications is that it's abused. There are tons of these different marketing firms. They do the organization verification that allows you to actually give, you know, verification access to anybody that you want to, even if they're not really ID verified. So these marketing firms, they spend the 10,000 bucks a year or whatever it is, and then they find these orgs who are willing to pay them some money so that they can get a verified check mark underneath this organization as an affiliate to kind of give credibility. That's what happened with Hotchco, by the way, that I covered briefly. Hotchko paired up with this organization. I forget the name of it now, top of my head, but they paired up with this organization. The organization granted them verification access as part of being associated with this marketing firm, which lent credibility to it. And that's when John Cena followed it and all this other nonsense. Well, that account has been not only abandoned, it was rebranded to some solely cat or some garbage. And so people are like, okay, this really was a scam.
[00:14:21] And ultimately I still to this day can't say that it was. But I can tell you that it wasn't going to sustain. It was not going to last the long term, because that's not what it was built to do. It just was not built to do that was built to be garbage. It was built to be trash and do pump and dump. And that's exactly what it did. So when the Cardano people get hacked and breached and their account, their official accounts being used to promote scams, they're basically saying, this is why we need to change the whole verification structure and we need to take another step with this. And we need to say that the tweet, should we verify.
[00:14:55] And using this concept is the idea that the entity, the person, whoever owns the account, right, has to somehow certify that it's a verified tweet. Now, the way that they're talking about doing this involves biometrics. To me, that means it already fails on its face. Anything that. I'll talk about this a little bit later on a different project, but anything that requires you to scan your face, scan your eyeball, scan your fingerprint is dead in the water. That's not the right answer. That doesn't verify anything. Okay, because we've already proven like with. First of all, if you're an ethnicity other than Caucasian American, all technology is biased. So unless you use a human in the equation, this is not sustainable. Second, fingerprints can be damaged, can be worn off, can be any number of things. It's not the right answer. We need to have solutions that do not require you violate your body in order to verify an identity. Verifying identity will always require a human number one. Number two, it should be as simple as whatever ID documentation you produce. My only beef with the ID documentation is I should be able to submit it one time and then reuse it as I'm already validated by whatever central something. I'll be talking about that here shortly. But this idea of the verified tweets at the tweet level, I wouldn't mind it if you do it once and done, but it's not. I've already done it through five different KYCs and now I have to do it again on the X account or through Cardano or whatever it is. No, I don't support that at all. And I certainly don't support biometrics in the quest to do that. To me, you're trying to fight a problem and you're not really fighting the solution. Fighting for the solution. You got to fight for the solution. Fighting for the solution simply means the ID document has already validated who you are. We had to go through that verification to even get the ID document. Whether that's a passport, driver's license, id, it doesn't matter. You already had to go through rigor to get the damn thing. Use that. And that is already verified. You note it duly noted and say, okay, you already pre authenticated. We don't need to do anything else. I want every service to hook into that, which is how it all works. If you need to go purchase a car, they're asking for your driver's license. Why? Because it's already been verified. We already know who you are. We already know that you're authorized to drive a car. We already know where you live. So we can use your driver's license to basically pre authenticate you to do this transaction. If you need to do a loan at a bank, they're asking for your ID Driver's license. Why? Because it already pre authenticates. You see on the so called quote trad side, which is traditional finance side, they understand the way that that's supposed to work. They still run credit, but it's still based on IDs that are already established. Your Social Security numbers established, your driver's license already established, your address already established. They're not doing this nonsense where all of these different services have to scan your face and somehow that's supposed to prove something. When it doesn't prove anything, all they're doing is then accumulating a bunch of data that can be used to breach your identity. And I'm, I'm giving warning myself. As a technologist, I would advocate that you not buy into it. Some might be supporters of it. I'm not. And I'll tell you, I will recommend you don't. I think it's a dangerous trend when we could simply just use the tools we already have. As much as they suck, they're the best way to identify somebody without putting them out. We damn sure not going to get some of these lesser investors, people that are low, low income, you know, lower level in the, in the social status. We're not going to get them into cryptocurrency if we're burdening them with this garbage. That's the wrong answer. I don't support it. Use what's already there that people will already have. Simply note, document and move on. And then I think you'll get more adoption. But as long as we keep talking about tossing more tools and trying to violate people's personal space, I'm not going to support it. And that's not even just talking about as a minority. I'm talking in general. It's bullshit. I'm sorry, the face scanning is garbage. Having gone through ID me, I know it's biased, it's stupid, it doesn't solve the problem. It's a waste of time, the IRS jumping on ID me. You can't access your tax records without going to ID me. It's a, it's junk, it's garbage. And then forcing you to fill out a tax and submit your tax filing and then they want to get it to where you do all the tax filing through them. And you can't use the private stuff that forces you to use ID me to scan your face to file the tax that's enabling them to take money from you. Do you understand how you're being put out by this? You understand how you're being treated like a commodity all because they don't have a good grasp about what identity management is. Identity management has nothing to do with your face. And that's what they don't understand. It has nothing to do with your face. Especially when you have all the transgender folks who are changing their face. You've changed the game. You've enabled changing the definition, you've enabled changing everything about Quote, identity to where the face no longer matters, the look of somebody no longer matters. So stop trying to go that route. The fingerprints don't matter, because that's going to come back as somebody completely different than what they were born as. Because somebody chose to change their identity. Because, man, I feel you like a woman. You now have changed the definition. That means you can't use it anymore. That's not in defense or in criticism of any person. I'm saying that this means because you've embraced that, you can't use those same generic paradigms that you did before. You've got to think about what is constant. What's constant is what we already have, the ID docs we already have. Stop trying to run away from it, because that's the best we have to try to get ahead of this nonsense.
[00:20:27] Coinbase is getting scratched. Scratched like a freaking. I cracked on Coinbase a long time ago. I quit Coinbase a long time ago. I still have the account. I ignore it. I haven't touched it in years because I said Coinbase is garbage. I maintain Coinbase is garbage. And. And frankly, it's time to come back, get my credit, because I told you a long time ago that Coinbase is crap. And they have. They did it for me. I didn't even have to do anything. I didn't have to work hard on this one. They did it for me. They have validated their garbage status very recently. Allegedly I didn't see this because I'm not in it anymore, because it's garbage. But allegedly, Coinbase's amount of false fraud flags have been increasing steadily over the past couple of months. And people are very pissed off about this one. According to Coinbase, quote, they made some changes. Quote, this is causing a minor increase in restricted accounts and elevated customer service. Wait times. Please bear with us. Don't believe everything you see on Twitter. Of course, Twitter doesn't exist anymore. But here's the thing.
[00:21:26] The changes that they made, I want to explain what they're talking about when they say, you know, this. This increase in restricted accounts are restricted accounts of restrictions on the banking side. So this is so called, quote tradfi on the banking Side mostly when you're talking checking accounts. Less so on credit cards, Although it's there, too.
[00:21:47] There are algorithms that run, and what they do is they look for certain transactions that they think are fraudulent, are dangerous, are risky, are suspect, or probably likely not you. Those algorithms are flawed on their face. They always have been, they always will be. To the point I had one of my banks, I said, turn that crap off because you're getting it wrong every time. We're talking things like, I shop on Amazon frequently. Okay, so I'll shop on Amazon. They know I shop on Amazon. It's the same delivery address. It's the same billing address. Nothing has changed. I'll do a transaction and I'll buy something that's 300 bucks. Pass. I'll buy something that's $1,000. Pass. I buy something that's 50. Air flag. What are you doing? Well, it's kind of smaller than you usually do. I'm buying batteries for the freaking thing I just bought. That's $300. I'm sorry that the batteries don't come with the thing, but I can't help that I had to buy the batteries. I didn't realize they didn't come with it. It's still Amazon. It's the same recipient. It's the same billing address. Nothing's changed other than the amount. And what I'm telling them is I don't mind the service if you flag it because it's originating from or delivering to, you know, or billing address to a completely different location. For example, years and years and years ago, I'm going to say 2005, 2006. I know it had to be there because of why I was in this place. I did a trip, business trip to Ohio.
[00:23:17] And I remember, I remember exactly what happened leading up to this event. I had stopped to get gas in the rental car to fill it back up, and I had my wallet. I pulled out the wallet, did the transaction, and I remember that was the last time I saw that card. I get back to the hotel room, I notice I don't have the card. I had the ability to freeze the card immediately. I freeze the card, it's not a big problem. And I didn't keep a lot of money in the car because if when I was traveling, I would not keep a lot of money in the account. I would purposely leave a small amount and then I would transfer as I needed to spend. So I have like six accounts all over the place. I never leave a significant amount in any account that I'm Using the debit card for. Because it's dangerous. Right? You could get breached. And that's what happened. Somebody tried to use the card because they found it and tried to use it. It didn't matter. Excited, blocked. The point is these companies, and it's mostly the visas and MasterCards of the World that you'll see this less so American Express, but Visa, MasterCard certainly will do this, where they're trying to use computer technology to predict what they think is a fraudulent transaction on this Coinbase business. And most of the exchanges are not as aggressive as Coinbase, in my personal opinion. Coinbase is trying to do the same thing. It's trying to look at certain transactions that they think are sketchy or fraudulent or suspect.
[00:24:36] And what they say is, well, we've prevented millions of customers losses in what we're doing, but it is somewhat aggressive and we're trying to realign it and readjust. The. The reason I'm not believing what they're saying, there was actually a FOIA Freedom of Information act release that had a bunch of notices that came from the federal government that went out to the various banks. So we're talking banks now. And it was telling the banks to do everything they could to try to prevent cryptocurrency transactions, to try to limit cryptocurrency transactions. Which is why you saw, and I don't remember if anybody remembered back in 2021, there was all of a sudden this compression. There was suppression of the ability to transact on cryptocurrency with your regular bank accounts. I believe Chase was one of them, where they straight said, you are not allowed to use your. Your account to buy cryptocurrency. And it didn't make any damn sense. It's your money. But I also said it's not really your money because the moment you give it to the bank, it gets lost. In accounting, you're just a number on a ledger. It's not really your money. It's not like they're storing it in a box in your name. You're just entitled to a certain amount. But they control how you transact it when you put it in the account. That's a custodianship. That's what Coinbase is basically doing themselves. And so they're acting like a custodian of your funds. You don't own it if you put it in those services. Coinbase is doing the same thing as a custodian. They're trying to protect your assets, but at the same time, they're making the decision about what they consider acceptable. So if they believe they don't want you to have to buy that cryptocurrency, they're going to block you. And you need to understand that's a risk that you accept by leaving your money in the bank. Which is why there's a push to try to get away from traditional banking. Now, there are some risks, some down points. If you want to use any asset, doesn't matter if it's in the bank or crypto, if you want to use your assets, they're rushing right now to plastic. They're rushing to you, to rushing you to use your debit cards, your credit card. What?
[00:26:32] And rushing away from cash. Do you know why they're doing that? They're doing that so they can control how you spend your money. If you have cash, you control how you spend your money. If you leave it in one of these accounts, they control how you spend your money. That's always been the scam. All the young people fell for it year over year. I just dealt with somebody who was like, oh, you're paid with cash? Yeah. And couldn't count the freaking change. Pissed me the hell off because no, I paid with cash because I control that flow. But if you want to do a hotel, you're screwed. That's the game. So as long as they're doing that, what do we see with all these services? They do these debit cards where you can spend your crypto with the card. What people don't understand is that the visas and the mastercards of the world are trying to limit use of your card for these purposes and they implement these fraud things. So as a good example, let's say the merchant for that card swipe machine is international. Some of these services, some of these card services, they'll actually block those transactions because they think that it's fraud legitimately. So they could be fraud. The problem is you don't know that it's an international terminal. The service itself might be in the U.S. but the terminal they use, the merchant they use happen to be international born. If you walk into a store, you don't see that kind of stuff. You rarely get blocked. Walk into a store because they see you, your face is in front of them, you're on camera. But we're talking online transactions, which is the predominant, because that's what the industry has pushed everybody to. They've pushed everybody away from stores, they've shut down malls, they've shut down local mom and pops, and they pushed everybody to the Amazon and Walmarts. Of the world. Again, this is all strategic. They're trying to get it to control how you spend your money. That was the game. That's what Coinbase's algorithm is essentially doing, is trying to control how you spend your money. And it's over aggressive and it's pissing people off. Which is why I said they're garbage. And hopefully people come back in my credit because I warned you about this back when I trashed them over a year ago. They were going to get worse and worse and worse. Nobody listens. And that's cool. But I'm telling you, this is the reality that we're living in now.
[00:28:34] I talked about identity. I saw a service and this is why I got pissed off about this whole business. I saw a service that was really intriguing as a great alternative to what we were talking about. I'm going to talk about it and I'm not going to swag it and I'm not going to really give them endorsement. I have an inquiry out to them and hopefully they will respond with a positive message. You haven't heard back from me as of yet.
[00:28:55] Core Pass is the name of it. It's on a core blockchain and what it does. I loved what it said it was doing. You take your documentation, so your passport, your id, whatever your documentation is, and you basically image it and it tokenizes it. So it creates a tokenized credential out of your identification information. When you interact with a DAPP that wants to identify you, instead of putting you through traditional KYC of upload your doc and give me your address and all that crap that they don't, they'll just basically issue a request. This is all done blockchain, it issues a request for your tokenized credential. Any that request and receive your tokenized credential. The service, the actual core path service, it pays you in the token, their core tokens. So you get paid now for the use of your tokenized credential. Now isn't that awesome? You're getting compensated for the privilege of granting this identity thing and you don't have to do the all this other garbage that the other ones require. It's just tokenizing the ID docs you already have.
[00:29:59] The reason I said that I'm not. I'm holding back on the swag. When I went to the site, I was going to try it out and so I could do a full on review for you. I went to the site. It's mobile only, so to me it's already dead in the water because You've got to support computers. You've got to support regular computer users. There are people who are not going to do your mobile stuff. You've got to support regular web technologies. Regular. Even if it's a regular computer application, you've got to support regular computers. I'm sorry, if you don't, you're dead in the water. You cannot from an accessibility perspective, you cannot just be mobile. So I sent an inquiry to ask when are you going to support regular computers? Hopefully I hear good news that that's on the roadmap. If it's not, I cannot endorse them. All the other ones, like the World Coin, which apparently we ran into World, that's the scanning the eyeballs, that's pump and dump garbage. There's one that's called Decide id.
[00:30:47] I looked at the side id. It was talking about face scans. None of them get it right. They're all, all of the other ones, they're falling back to face and eyeball crap and, and fingerprints and biometrics that they don't get. It can all be faked, fabricated or damaged. We need to have you just take the existing credentials you have, you image them and tokenize them as credentials like COR passes. Sounds great and I would love to try it. If they hear this and want the smoke, I would love to try your service. You need to support computers. And then I'm happy to try it out and then I'm happy to advocate for you if it does what you say that it does because I intrigued by what you say that it does. But right now I cannot support what you're. What you're proposing. Much as it pains me, I really wish I could, I cannot do.
[00:31:35] I'm going to wrap up today's episode with a brief update on Manny the Rug Puller, AKA Manny the Hitman. Banpreet Coley on the Saitama AKA side of chain scam syndicate. I have an update on this one. So he was out on bail. Out on bail as of the fifth December. Right. He goes to court. So this is where we're at. He goes to court and what I'm. He was. There was a whole different thing that was written up that said basically he's. He's released, but he has to go, he has to do. He has to do a whole bunch of stuff to make sure that he's in compliance with what? So like he can't go. He can't contact certain people, he's got a curfew. So for example, there's an extradition trial that's yet to happen. That's going to be in 2025. So he's. The bail condition is yeah, you're out on bail, but there's still going to be an extradition hearing. So this is the US still trying to get their grimy hands on this dude. He's got a curfew from 1am to 5, so he cannot be. He basically cannot be anywhere outside of the jurisdiction. And he's got to be in.
[00:32:43] During that span of time. He's got to wear a electric. I think it's a. An ankle electric shock bracelet or whatever that is. And it's like tracks you.
[00:32:52] He can't contact any of the other people, so he can't contact Russ, cult leader, who's fat again, by the way. There's a recent picture. Some guy showed a recent picture of the cult leader and he's fat again. So I don't know what the deal is there, but he can't contact the cult leader. He can't talk, contact Nam. I don't know that anybody contact Nam because there's been nothing on the case that says that they caught up to him. So I don't know what the hell's going on there. And he can't do anything with Max Hernandez. We know for a fact that Max Hernandez and cult leader Russ both pled guilty to the civil at least side of things. We know that this, that I referred to with this bail is on the civil side of something from the sec. There's a criminal case that's still out there. The criminal case I haven't seen any significant traction on, which is kind of strange.
[00:33:41] All I've seen is the serving docks and everything else.
[00:33:45] Manny, the rug puller, he can't. He can't travel. He can't even go. He can't even go to the airports. He can't go to the bus depots. He can't go anywhere. He had to surrender his travel docs. He had to surrender his passports. He. He had his family. He had to have his local. He has a wife. He had to surrender all their passports. They're making sure he's not d. He cannot. He cannot let his phone discharge. Cell phone, he can't let it discharge. He has to keep it on him all the time so he can be reached.
[00:34:14] And he's got a report into the police station. This is the Woking police station, which is ironic name three days out of the week so that we can make. So that they. Not we. They can make sure that he's accounted he's here, he's showing up, he's following.
[00:34:31] And the funny thing is they said hey, we know where he is, so we know how to find him. So you have to stay there. Other except for certain limited things that you can do, but you got to stay there. You can't go anywhere else other than your home as part of the bail situation. The funny thing about them saying that we're not going to release his public or anything. The actual serving docs, their public record, okay, so they served him with the hey, you got to show up in court. And his attorney, which is, I have the name of it somewhere. But his attorney's firm, they were involved with some other previous court cases, some lesser ones that I had heard of, you know, like over 20, 21 or something like that. So he, he calls them up.
[00:35:17] Eric Rosen is the name of the attorney, calls him up. That guy responded to the summons on rug puller's behalf. And then there's more that's happening on for Max Hernandez and some extensions and everything. But as part of the summons they straight up listed the address for this dude rug puller in the uk and that correlates to a company, DK D E E K A Y Relief Limited.
[00:35:45] So now the plot thickens on this one which touts itself as business support services. Employ or. Yeah, business support services, administrative and support services, waste management and remediation services. So you normally don't see. And maybe this is a UK thing, but you normally don't see business support and waste management services together on the same. You don't see that if you're waste management. If you're a garbage man, that's fine to be a garbage man, but that has nothing to do with business support services. So it may be janitorial maybe. So are we saying that Manny the rug puller is a janitor? Are we saying that he scrubs toilets and his part time and that's maybe that's the motivation why he decided to start scamming people. I don't know that I'm saying that that's what his business says that he does is waste management, remediation services. I don't understand it myself, but his address is straight up on there and I took a look at it on the maps and I mean it's a decent nice house. It's nothing spectacular. The land, I think it's seven something thousand square feet. The home is pretty small. I think it's like 1300 square feet. So smaller than my house. The land, I think the land is about the same size as my plot, I think it is. So that's pretty tiny. And then it's, it's encircled by a fence and it's got a tall shrub fence over top of it. So you can't really barely see it. Except you go down the street and then look to the left, you see this big red house and it's got a. One of those old antennas poking out of the top of it. So I was, I was interested to see the house there. That's where they served and they straight went to the house and served him directly there. But I, when they said that, yeah, we don't, we're not divulging his address. It's all of the freaking public docks, folks. Come on, we know what it is. So the cool thing is we know more about Manny the rug puller. We know that allegedly, perhaps he was a janitor of some kind and maybe that's the reason why he started scamming people. Got tired of scrubbing people's toilets and started to rip people off.
[00:37:45] I don't know that for a fact. I'm just saying that I can't think of any of the reason why you would call your or classify your company as Waste Management Remediation Services. This business, then allegedly he's running it with his wife. That's what I was told. I don't know. What I do know is that he's in his 40s. I know that much. He started the business in 2018. That I do know. And I don't know very much about this beyond what I just shared. So Tanika is his wife's name?
[00:38:15] I don't know beyond that. Why like think of, I'm just spitballing here.
[00:38:24] He as a business owner, okay, he as a business owner, myself, I'm trying to put my self in his shoes of motivation. If you're a business owner, you already own a business, right? Why would you resort to straight up scamming people? I don't get it. Why would you resort to doing what you did if you're already a business owner and the business is active? So if you're active, that means you're paying what you're supposed to pay. Presumably you're making at least some money. So why would you resort to scamming people this way? It doesn't make any sense because let me just tell you what I would have done, okay? I, first of all, I wouldn't have associated with a frickin one punch man. But setting that aside, let's pretend that the Old Saitama didn't exist. Let's pretend that what was launched in 2021 was the side of chain, right? It was the professional side of chain. None of that cartoon crap, none of the garbage we saw. But the same things happened, right? We still had the unreasonable pumps. And let's assume that we did not have the wash trading that was happening. We didn't have the illegal pumping that was happening. We didn't have the illegal bots that was happening. We didn't have vfam. Let's assume we didn't have the nefarious side. Let's assume it was legit. Let's assume that it just caught people's eyes and it goes unreasonable pumps on the legit, right? On the up and up.
[00:39:44] We say we're going to build up what would be cider pro. Now, we don't talk about cider mass, nothing. We don't show the BS images. We talk about what we know. Now let's say they did this, right? Okay, let's see. Everything went like it's supposed to.
[00:39:58] I would have taken, knowing how much money he had in tokens. I would have just sold parts of it, invested in the business, sold parts of it again without major dumps. I just sold parts of it again. And I would invest it in properties. I would have taken slices of the money and I would have just bought properties.
[00:40:20] Slices of the money bought property, slices of the money brought property, slices the money. I would have just gone nuts buying property after property after property after property after property. Or I would have done, you know, property investments that are like joint investments with somebody else or on the, on the business side. The point is I would have taken those proceeds and invested it in business ventures. When those business ventures start making money back, I would have turned that back into what would have been at the time side of chain. Because doing it that way, he'd have made three times the money if he was smart about it. Now, we know he's an idiot, but I'm saying I question. You had a business, why didn't you invest in that? Why did you get greedy over here?
[00:41:11] It's. It's the biggest freaking mystery.
[00:41:14] When I see, I never understand the mind of scammers. I never understand it. Speaking of, by the way, I was told, and I didn't see this. I looked through the docs, I didn't see anything because it might be bs, but I was told that allegedly there's a class action lawsuit against Ben Armstrong for Ben Coin, which crapped because he verbally said it's done. It's essentially a rug pull, whether he did it or not. Smooth. The point is essentially a rug pool. So allegedly, there's a class action lawsuit about that one, the Hawk Tua Girl, which I covered on YouTube. The theory is that they're going to go after her. Rightfully so. They should. Because regardless of what she says, the point is her name's attached to it. She's a dumb young idiot, and that's what happened. So I. The. The minds of scammers is always a mystery to me because that. None of them seem to get it. Like, if I look at legit people, Floyd Mayweather, he took his money, he bought a bunch of houses all over the fricking country. He's now selling them. He basically flipped them like he bought these. He fixes them up, he lives them for a while, and then he flips them like he. He made twice what he bought for them. Like, you can't call somebody. That's what you should be doing. You should be investing in something that you can flip on the legit and make the money back and then invest in something else. This. This. I don't know, this consortium of scammers, it just doesn't make any sense to me. It never has, it never will. And let's say we get legal, you know, crypto, good rags. We still have this garbage out there, you know, and I don't know what. What it's going to take, you know, short of better regs. And I don't want over regs, I want smart regs, but I don't know how else to get there as long as we have this garbage going on. And scammers that don't seem to get it, they just don't seem to understand.
[00:43:05] Your quick pump isn't worth it. You're going to get locked up. You might lose it. Your. Your potential is stymied. You know, when you could have just. You could have turned this into something, you know, people like poof hair, Sam Bankman, fried. You know, your party, your party sex house up over there. Like, dude, what the hell's wrong with you? Why didn't you take some of the profits, invest in something legitimate, and then flip that money back around and then invest it back in the business to deal with shortfalls. Do rug pull, AKA do Kwon. Same thing. Like, why didn't you take some of the money that you clearly made? I mean, Luna, you know, Luna, the Terra Luna. It made a lot. It. So why didn't you take some of that, put it something legal, spinning back into the project to, you know, to buoy, you know, to support it. Right. I don't know.
[00:43:54] I don't know. It's a mystery to me. Anyhow, we've got some ways to go to get back up to where we were. Momentum is still positive in the sentiment side, but it's negative in the price movement. How long it lasts is unknown. We also have to see again, as we get closer to the impending election of Donald Trump, what change that has in the momentum side. I think we're good. I think we're going to be in a good spot and I think we're. We just have to let some time pass and the dust settle. Take profits where you can. If you're going to gamble, roll the dice. I can't tell what dude's cash, but I will encourage you. Take profits when you get the opportunity to get those profits, take them. You've earned them. You are deserving of them and I recommend that you take them. And if you're going to sit on it, whatever. But I recommend take profits because it's going to be volatile for at least a foreseeable future.
[00:44:59] Sa.
