Episode Transcript
[00:00:00] Good morning, ladies and gentlemen, crypto traders worldwide. Morning update. Now that I've got my iced coffee handy, Satama, aka Satama Inu, although they're trying to change that name, Satama has been surging for the past couple days. As of right now, it's roughly double what it was about a week and a half ago, and it's still climbing. And you might have noticed it if you were aware of it or had it on a watch list. And you're curious what the heck is going on, and more importantly, whether you should buy in or not. Let me answer that question really easy, is that I cannot tell you whether to buy in or not, and I'm going to talk about the FOMO and that methodology, but just to respond to the inquiry about Satama itself.
[00:00:41] Satama, of course, is for those that don't know, one of the various INU tokens that have been floating around that piggybacked off the success of Doge. It is slightly different in the sense that, from what I can tell, and I could be wrong on the dates, but I believe it was one of the very first that actually pushed the idea of reflections in the token and different tokenomics than what had come before.
[00:01:06] If you look at something like Doge, Doge, when it launched, launched at a very low price point. Most people that got in early, made out like a bandit when it spiked up to $0.70 based on Elon Musk's tweets and Doge adds, It mints 10,000 new tokens every minute. So there's constantly inventory being added to the total circulation as well as the circulating supply that's out there.
[00:01:33] DOJ, for the most point, has plateaued in terms of its popularity because Elon has stopped tweeting about it and then, of course, went on SNL and basically killed the business, to use the term. But Doge didn't have anything underneath it. DOGE has its own chain, it has its own network, its own blockchain separate to where you can trade it very cheap. You don't have to spend gas fees, you can use it to buy other coins very cheap. So it's a very good utility type token, but beyond that, it's just kind of there. And that's kind of their market pitch, is we're here. If you go on any social media, which I don't, but if you do, they'll even say, yes, we're still here, we're still here, we're still here. We ain't going nowhere. We're still here. If you want to buy us, we're here. If you don't, who cares? Which has its own appeal, but its tokenomics don't really add to the conversation beyond what it is. These other enus have tried different gimmicks to try to stand out in the crowd so that they're not bulked in as another doge. So you take Shib, for example. Shib came in with a fixed inventory, so it doesn't have infinite, it has a fixed inventory, but just a very high inventory. And then it used the gimmick of giving the founder of Ethereum a bunch of these tokens, who then basically burned a bunch of them and sent the rest to India COVID relief, which actually helped the token because it helped get it to the point where its value was going to be able to increase by way of scarcity. Then other tokens are trying to copy that same. If you've seen the news recently, other of these quote, dog coins are sending their volumes to this guy, and then he's basically just distributing the who knows what. Why he doesn't send them all to the India COVID. Again, I don't know. I digress. With Satama, they took a different stance. It has a fixed inventory. It had, I believe, arguably the same inventory as Shib. It had half of its inventory burned up front. However, it implements a slightly different version of its tokenomics in the sense that I talked about this in previous updates, that it has a concept of reflections, which means that 2% of all transactionals, transactions that happen are redistributed to all different holders, and then another 2% is burned. So that increases the burn, which of course increases scarcity, which in theory should increase the price. So as an incentive to holding, you get a 2% transaction coming to you. So as it's sitting in your wallet, and nobody really has tested this, but as long as it's in a wallet, from what I can tell, your number just magically increases, increases, increases, even if it's in a cold storage wallet, like a hardware wallet, because it still has to synchronize at some point. But then the 2% burn, you can see it on the burn wallet, you can see it on ether scan that this is being distributed for burn. So the combination of hold, new people buying in, and then the burn should contribute to an increase in value over time.
[00:04:26] Satama, as it stands right now, is down to seven zeros. So if you consider that Shib, I believe, is down to four zeros. And with Shib today, some people are saying, well, if you missed the train. To quote Gap band, you missed the train on Shib. Because while it's still cheap to buy in right now, $15 Ish will get you about 500,000 shib. You're like, well, that's a lot. It is. But Shib still has a significant inventory. Because Shib did not have a recurrent burn. It has a transactional burn. I'm not going to cover Shib on this episode. I'll cover it separately. But with Satama. Satama has a constant burn. As people do buy sell transactions, there's a constant burn of 2%. And that accumulates, accumulates, accumulates, accumulates, accumulates. Then there's the redistribution by way of reflections that adds to the holders, which takes them out of circulation, which increases your value, but it also increases the value of the token as people hold. The buy sell transactions actually help the token because of the redistribution and the burn. So it created this utility that now many other EnU tokens are copying. But the reason that additional reason that Saitama is spiking now is because, as I mentioned on previous updates, Saitama, my biggest criticism with them is a lack of information and a lack of transparency, and what I see as a lack of clear, specific activities they're doing, and which is a fault of all tokens. The rush to telegram, which no American uses, they seem to be fixing this. Whether by way of hearing my messaging or somebody else's, they seem to be fixing it on social media. ThEy've been releasing updates showing with Cytomask, which is their wallet. They've shown videos of it actually working. So you know, it's a tangible something.
[00:06:20] We've seen pictures and we've seen the Saitama logo from the MMA event. So we know that's a real thing. It's not just nonsense.
[00:06:28] We've seen the developers like, Max is one of them. He gave an update saying, I'm going to go live and I'll do an AMA. So it looks like they're trying to release a little bit more information than they have done in the past. In November 13, which is just under a month from now, they're going to allegedly release site of mask in this shindig in Vegas. And I want to kind of parallel and contrast this with Keanu, which Keanu has its own issues I won't cover here. But Keanu, when it first launched, did a similar thing in the sense that they were planning this massive event. It was also going to be in Vegas. They had these celebrities lined up. They had everything apparently all laid out. And then it didn't happen. Now, the difference is that Keanu actually asked holders for donations to contribute to this cause nobody got their donations back. When this thing failed, they didn't get their money back. And so it felt like a rug pull in a sense, because you gave all this money, it doesn't happen. To be fair, the fact that didn't happen was not the developer's fault. Ultimately, that person got stood up by the celebrity's point of contact. Regardless, the donations didn't show back up, probably because the donations went towards a deposit that was non refundable. And whoever was coordinating the event on the Keanu side didn't know what the heck they were doing with contracts and didn't know to look out for this. And they also didn't budget for it as part of the liquidity when they set it up. Because normally what happens with a lot of these tokens is they'll set aside a 2% redistribution as part of the tokenomics to say this money goes to marketing, or this money goes to branding, or this money goes to team, or this money goes to whatevEr.
[00:08:09] They didn't do that. So Keanu fails. Basically. People don't get their money back. People sell off en masse the token tanks, Keanu starts to go back up again. Then what happens? They get sent a cease and desist letter. This just happened. I did an update on it from Keanu Reeves's lawyers, which I called out in the previous update. I said, them hooking into Matrix Four and Keanu Reeves is a big mistake. I could see it from a mile away. So now they're trying to rebrand the token and move it to the binance smart chain, which I think is a big mistake. It's their token. They're going to do what they're going to do. But Satama doesn't seem to be making those kinds of mistakes. And they have not asked for donations and they have not, at least from what I could tell, they have tried to make sure that everything's going to be stable and consistent and released what dates they could, because it seems like they're trying to firm things up before they release dates, which I applaud them for. I simply said that it's a yellow flag. The lack of information that was being sent through other forums beyond telegram. If you were to go to their telegram right now, it's a bunch of garbage of to the moon and hold and nonsense GIF images and garbage. It's garbage. It's not significant data. So I was simply saying it's a yellow flag for a rug pull. Until I see that they are releasing more tangible data, it looks like they're trying to at least do that. I wish they would take it a step further, but for right now, it seems like they're on the right track.
[00:09:37] So you're asking yourself, given what you said, Mr. Leister, should I get into this thing right now? Because I think, see this thing skyrocketing, and I'm just not sure. FOMO.
[00:09:48] I'm sure you heard FOMO or read it at least once. FOMO is fear of missing out. It's not specific to crypto. It applies to anything. It's this idea that when you see something that catches your eye, you're in debate whether or not you should jump in because you might miss the train. To quote the Gap band, we go back to bitcoin in 2010, to 2013, and people who had thousands of them, who sold them for $8, because at the time, they didn't think much of it, then the thing starts skyrocketing and people are saying, maybe I should get into this thing. That's FOMO. That's what this is. You're feeling a FOMO effect. You're not sure if it's the right time, and I can't tell you if it's the right time for you. All I can tell you is right now, its value is roughly about twice what it was from a week and a half ago, and it is trending somewhat upward. It looks like it's going to taper off sometime soon, but it had tapered off before, and then it started jumping up again. So we don't know. We don't know how high it'll go. We don't know if this is a constant trend. We don't even know if it's a pump and dump. We don't know. We expect that some whales will start selling off at some point because Satama now is at its all time high, has jumped past its all time high. So you could have people who are there from scratch because we're at seven zeros, people who are there at ten Zeros, who now are millionaires that are going to sell out.
[00:11:14] Hopefully, the fees and the penalties and everything that go into selling will discourage too much of it. But the reality is Satama's already had some major whale sellouts. We expect it's going to happen again. If it happens again, that means that the value is going to start tapering off at some point. But the more that they continue doing and keeping with the current velocity.
[00:11:37] I see that it'll hit possibly up to, I'll say five, maybe five and a half before it starts tapering off. That's just my estimation based on the current velocity and growth patterns. Does that mean you should buy in now? I don't know. Does that mean you should avoid it now? I don't know. Does that mean you should buy the dips? I don't know. It depends on your investment strategy. As I said before, as long as you have a diverse portfolio and you have control over your value, to make sure it doesn't deviate too much. I don't see a problem with buying in if you truly believe in it. But make sure you read the white paper, make sure you read the site, make sure you are comfortable with what they're trying to do. And it feels like you should believe in this, not just a quick cash grab. Could you make cash off it? Absolutely. I'm saying I don't think personally that should be your only motivation for buying in now if you're going to do it. The reason I say that is because again, there's still the rug pull risk. We have not mitigated it to my satisfaction anyway. So as long as that's there, you always want to have other types of investments in your portfolio that are sustaining the value of portfolio, so that if something happens and we get even, if it's just major, well, sellouts, you're not going to be negatively impacted. And again, don't invest money you can afford to lose. At the end of the day, that's always a thing. Just to put it in perspective. As of today, and I'm only talking about today, I'm not talking permanent, I'm talking as of today, if you wanted 10 billion tokens, it's going to cost you about just over 300 and 5400 ish, $450. If you wanted 10 billion tokens, if you imagine 10 billion tokens and you were to invest, let's say, $400 into the thing, that means yes, you feasibly could end up being a millionaire by the time this guy gets to its highest plateau point. Or you could invest a few thousand if you have the money to do that and get there quicker. Is that possible? Absolutely. You certainly will get more reflections the more that you invest. It's just that your level of risk goes up. Now, if your whole portfolio is filled with $1,000 investments, you probably don't care about investing another 1000 in this one because the other ones will help buffer what does or doesn't happen on this one. Whereas you can increase the potential of this one. If you wanted to buy in, lbank is one of the exchanges that has it available. You can go to Lbank and do it. Just know that they're going to rip you off when you go to cash out. But lbank is a way that you can exchange fiat for a stable coin and then buy Satama. Or what I recommend, if you're an American, is just to go through Uniswap. So you attach your wallet, go through Dapps, go to Uniswap and buy Satama. That way you'll have to authorize access to your source token. If that's Ethereum or whatever gas fees are going to hit you, it's probably going to be somewhere between 60 and $120, depending on what time of day you do it. But I'm not advocating you do. I'm not advocating you don't. I'm saying if you choose to, right now it's about $400 for 10 billion tokens and you have a strong opportunity for growth. You also have a potential for rug pull. We don't know. As of right now, it looks like it's on a healthy growth pattern and it looks like the team is doing good work to get the word out about the token. And with Cytomask and then the marketing and the MMA, we could be in a good spot here. We'll keep an eye on it. But make your own decision and do your own due diligence.
