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Episode Transcript
[00:00:01] Welcome to Crypto Talk radio, the podcast for everyday investors like you. Visit us on the [email protected]. Dot and now here's your host, Leister. Thank you for that, Bailey, and welcome, everybody out there on Crypto Talk radio. [email protected]. Dot the work continues. The journey continues. The saga continues. And I'm going to be going at it as much as I can tolerate, and I can't guarantee that everything will stay as solvent as it is right now.
[00:00:33] Cryptotalk FM. My name is Leister. I am your host. And welcome, or welcome back. The air conditioner just kicked on. I readjusted the microphone, and we're going to see if this blocks out the noise from this jackass h vac system. By the way, if you're, if you're a listener, repeat listener, you heard me talk about trying to get a new place that's, that's ongoing. It's a waiting game, and I don't like waiting games. I don't like waiting on other people. I don't like waiting on other people to do their job. It pisses me off, but that's what I'm at. So I'll briefly cover that. So the offer was put out. They pushed back. I countered. They pushed back. I said, let's walk. And then they came back on their knees with a lower number. It's not exactly what I wanted, but it's a lot closer than what we were initially talking about. So I accepted that one. So then it's now running through the channel, the appraisal and everything. And then depending on the appraisal, if, if my, this is gambling, okay? If you haven't bought a home or bought a condo or something, this step of the process is gambling, okay? You have a house that's put on the market, they want x. You come in and you have money that you're willing to spend and money that's available, down payment and all that. And you say you're looking at it and you're like, well, I like the house, but it's not just as simple as I'm willing to pay why it's, is it worth why? And you have to determine what why is for you, right? Because for some people, why is a completely different number than others. So in this case, the house, they wanted 275 grand for this business. And although it's a nice house, it's got issues. It's got things that I'm going to have to basically redesigned because whoever designed this didn't know what the hell they were doing.
[00:02:22] So, although it's a nice house and it has opportunity to be something for what I'm doing, there is no way I could justify 275. So I'm asking them to come down, the price and all that. And that's where it went back and forth, and then they came back. But then the next number has to align with the appraisal, because the appraisal really is somebody else, presumably unbiased somebody else coming in, saying, fair market wise, this is what we think this damn thing's worth. And so I was trying to get the number to be somewhat close, but the thing is, you don't know what that's going to be until the appraisal is done. And the appraisal doesn't happen until after the inspection and after the offers. So you're tossing out a number out there. It's. It's almost like roulette. You know, you're tossing out a number. You're stacking chips on a number, and then the appraiser comes in, and they. You're supposed to get close to their number as close as possible. Cause if you're over it. So if your number is significantly over the appraisal, you have to come up with that gap somehow. And that means either going back to the seller or you come out of pocket. And I'm damn sure not coming out any more pocket. Cause I'm already doing 20% down. So I was like, screw you, bro. It's not gonna work. And I suspect the sellers are not gonna come any lower on this business. You know, if it's like, okay, five grand under it, all right, fine. But if, you know, I suspect I'm right on dock. But let's say I'm not. Let's say I'm $20,000 off, I'm going to walk. And so then, you know, we would have wasted two and a half weeks at this point, which pisses me off.
[00:03:55] I've done this before. It's just here in the place I'm at, it seems like everybody plays hardball, and they don't. They want what they want. I got it. You know, I look at it, and I'm an outsider. I haven't lived here before, so I don't understand the local demographics. But I can tell you the crime is not appealing. The schools suck. Like, everything is a negative that would matter to a full family, because I'm thinking of it. I buy this house, I'm gonna have to turn around and sell it at someday, right? And so it's got to be appealing to not just myself, it's got to be appealing to other people. So all of which to say, that's occupying a lot of my time.
[00:04:32] I haven't paid a lot of attention to cryptocurrency, unfortunately. It's been quiet. There hasn't been a lot of things going on with it. That's good. I hope things are getting a little bit calmer, but I suspect that they're not. I'm going to be talking about the numbers. I'm going to be talking about a couple news bits, and then I'm going to talk about a couple of garbages. Not because I want you to get in it, but because I want to just make people aware that I'm aware. And hopefully, if there's people that are in it, I can, I'm just sharing what I see. So I don't one of these, I know nothing about the other one. I'm like, come on, man, people. So public service announcement as it is. So let's go ahead and jump in and let's talk numbers again. There wasn't a lot going on, and the only significant thing, I mean, there was the SEC and Robin Hood. I chose not to cover that one because I have a, I have a theory that that one's kind of smoke and mirrors to mask the real coverage, which was the Coinbase update I did on the out of cycle. So if you didn't get a chance to check that out, check that out. That's the prior episode on the podcast. Let's go ahead and jump right in, talk about this stuff, and then we'll wrap up on the tail end with some fun stuff.
[00:05:45] Bitcoin started acting like a bouncing coin. Coindesk.com zooming out to the month chart, and we saw essentially trending down. As I mentioned before, it didn't seem like it was holding up from some of the sell behavior that happened and some of the loss of sentiment. Although I suspect we're going to head back up here soon. That's my theory. I can only say it's a theory. A low of 62 three, a high of 64 four, hovering about the 62 four mark as I record it, and again look like a bouncing token on its way down. Now, I looked at Ethereum because I wanted to see if Ethereum was more optimistic. And suffice to say, ethereum is a lot more pessimistic. A low of 3000, a high 3100 hovering around the 3000 mark heading strongly down, surprised me. It really did not, because it's not because of Ethereum specifically. Just generally speaking, there was a sell offs and everything, but I suspected that Ethereum was going to recover better, if only because of its alignment to the various other chains and all the other tokens, whether they be garbage or otherwise, that should be supportive of it. With just general liquidity abroad, I expected that we would see much more upward trend on Ethereum than we have done. So perhaps, and I can't say for sure, because even the alts like Solana 148, I know it was like as low as $120 not long ago, and BNB hit 600. It spiked a little bit, but didn't hold it. It's headed downward. So I suspect. I don't know, but I suspect money is simply flowing into other sorts of investment articles, you know, bonds and stocks. And it's possible that taxes play a part, but I don't think so at this point. I think it's money flowing into different types of vehicles other than cryptocurrency, perhaps for the short term, perhaps there's going to be more to it. I don't know.
[00:07:44] The political spectrum also is kind of coming up. The idea that as we get closer to November elections and some of the states and seeing electors getting said and everything, I think possibly the focus has shifted. Perhaps, like myself, people are not paying attention to it right now, or they're waiting for a run up. They're waiting for green, because traditionally, although it's bad, traditionally, people wait for the green. They buy when they see red. They sell or do nothing, and there's been unexpected lengths of red. Although I mentioned on a previous episode that it was probable that in may we would head downward. That's what we're seeing. So I got that right. Cool. Kudos to me. Long term, though, I think we're fine. But it's going to take patience. It's going to take some forethought and some planning. If you are in whatever cryptocurrency it is, I don't care if it's garbage at this point, but if you're in some things, you, it's easy choice, right? You got two ways to go. You can sit it out and wait it right. Or, and by sit it out, I also include DCA strategy. Or you could just say, screw this, I'm not, I can't handle the stress because hopefully, if you, if you've been one that's listened to me on a regular basis, you've kind of seen I'm a conservative with respect to cryptocurrency. I don't yolo into stuff. I don't get overly excited about things. I'm kind of very passive about it because I'm risk averse with a lot of these things. It doesn't mean that I don't take risks. I do. But if I'm going to take risks, it's simply because I want to try to help other people make a little money. And I did that. I was essentially. There was a project that was out there. It launched on the Solana chain, and I didn't see anything wrong with the contract. The contract was clean. It seemed like it wasn't really intended to do anything. So it's a meme, right? And it was not. I didn't get any scammy intent out of it seemed like it was just, hey, we're going to put this out here and make you a little money. That's literally what it was. And contract was clean. So I was tossing money in it, and I was causing price pumps like crazy with the intent of getting more people to get in this business, because I. I knew if I'm with the money I'm putting in here, if I'm causing these runs, it means there's an opportunity for it to really go. And it's just at its bottom. Well, I got a couple of people to buy in, but then, for whatever reason, there were others that were just dumping all the damn thing and so on. Solana, if you didn't know anybody can burn, like, literally destroy. I'm not talking burn wallet, I'm talking remove. There are completely gone tokens on Solana. So if you have a million tokens and the total supply is 2 million, you could, if you wanted to, burn half of its total supply yourself, as in there, they're gone. They will never be recovered. They're not counted in the total supply anymore, which should raise the floor for that token. That's what I was doing for this project. I was literally raising its floor when I'm seeing these jack offs almost cussed there.
[00:10:48] What? I'm seeing these jackoffs dump off. And I don't blame them. I mean, we're talking a couple hundred bucks. We're not talking, you know, crazy months. There was no whales in there. I was the. I was the only real whale other than the. The dead wallet. I. Or, excuse me, a exchange. So I'm, like, number two on the list of holders. That's how much I was strong in it, and I was putting more, putting more, and then I would burn excess, like keep the change or that kind of stuff. I would burn to raise the floor and raise the floor trying to entice people. It's like, come on, people, buy into this damn thing. Unfortunately, the devs stopped responding. The dev was not as active as they were up front. I knew the devs account was still active, but they weren't talking about the project like I think they should have, because that damn thing should have ran. We're not talking dog with hat levels of billions and billions. It wouldn't have done that. But there certainly was an opportunity. I forget what the market cap was. It's been a while, but there certainly was an opportunity for this damn thing to go to $10 million. If it gone to $10 million, I must have put.
[00:11:52] Cause I don't know what it. Again, I don't know what the market was. It was pretty low, but I must have put probably ten grand overall in it, of which probably two grand I burned. And you're like, are you nuts? It was, again, first of all, it wasn't a big hit for me financially. It was profit. It was excess profit that I had gotten from the run that happened before. And I was sitting on it. It was just sitting in projects. And I. Again, as I mentioned, I knew bone was going to go down. So I figured, okay, let me use this money, see if I can cause a run on another project. I'll make back the stuff that's from the dips, and then I'll buy into other stuff. And unfortunately, I couldn't get enough strong traction to buy in. But that's a good example of where I was trying to help other people, you know, get some positive, because, you know, you get millions in there and you can raise its floor and kind of hold it so people are able to make some money off of it. And I just wasn't able to sell that because the developer just basically, they didn't abandon it, but they certainly were not as energized as I would have liked to them to have been. So sit. Other than that, I don't take. Cause that was a risk, right? I'm putting a lot of money in this business. Nobody was coming close to how much money I put in the thing. But at the same time, you know, that was a one off. I don't do it that often. I mean, bone, I had a lot of money in it. But this one, that kind of situation where I'm just putting money in to hold a floor and I'm happily burning tokens and burning money, basically. I just was not. It's rare that I do that, that when I was trying to help people and, you know, it just didn't work. And I'm cool with that because, again, it didn't financially hurt me. Here I am about to buy a house, and I got 20% down in the bank on stash. So I'm like, hey, I'll just toss my extra money at it and just kind of see what happens, see if I can help people and maybe it runs and then I can make money back or it doesn't. This is the gambling nature I describe because it's a gamble. It's a gamble for anybody that choose to do these kinds of things.
[00:13:45] So I'm very conservative. I don't go crazy, nuts. And I, you may hear, I don't offer or recommend projects. I might say, come look, take a look at this one. I have one that I was going to recommend people take a look at, and I backed off of it. But other than that, it's just I'm passive because I don't know with this down, how long it'll last. And then the run, how steep will run. It may not steeply run hardly at all. I don't know. So you will not hear me go crazy aggressive about this business, what you will hear from me. And I say it'll probably start, I'm going to say August of this year, probably you're going to start hearing me talk a little bit more political. And I try to stay away from politics because with what happened with the rock, I don't know if you saw, but he put out a video and he basically apologized because he has millions and millions of fricking followers. Right. And he did a thing with Biden and Kamala right after they took office that basically was saying endorsement of these two. And so the key word is influence. Right. As an, he is an influencer. Influencer. The problem is you have a responsibility to be honest, to be ethical, to be straight up, as well as to be thoughtful about these things. When you're talking about politics in particular, this is why you don't hear me speak heavily about it, because there may be people who are influenced by what they hear from me as well and have a responsibility not to go overboard when you talk about politics.
[00:15:15] The only thing that matters to me, I shouldn't say only, but the primary thing that matters to me with respect to politics is a strong economy. The strong economy to me is the gateway to anything else that we might consider or want to do. There has been too much focus, in my opinion, on everything else, things that don't benefit the majority. They only benefit a small minority in a corner. I speak as a minority myself that I don't like appealing to minority groups. I feel that the minority groups should be empowered to make their own futures, but everybody should have the same level playing field. That starts with a strong economy. A strong economy necessarily must include our country first being in a strong position, which we're not. Now, I know some people who have traveled internationally would say there are third world countries out there and we're way better than them. We are with respect to how certain treatments are done or certain rights that we have, but we are behind with respect to basic, fundamental things. Here's a great example.
[00:16:26] If you think about what we have available in terms of money, in terms of resources, people, land, oil, all of these resources that we have that we choose not to use, our homeless situation is a joke. Our country shouldnt have a homeless situation.
[00:16:44] Our country should not have a drug crisis because we are a wealthy country. So being a wealthy country, but still having these problems that we know that we have yet our government will actively invest taxpayer dollars going after online sources that are creating AI based porn of Taylor Swift. I don't know if you saw that they will invest taxpayer money to coddle a celebrity. Am I advocating for that against her? No, I'm saying priority. The priority should not be to drop everything and jump on that because a celebrity is being put out. But you still got the homeless problem over there. You still got hungry people, you still got a drug crisis, you still got a gun crisis, fentanyl, there's no heavy focus on those things. Even though we could solve it during the pandemic, handing out a stimmy check that wasn't going to be sufficient to pay anybody's mortgage or anybody's rent just to shut people up while shipping billions and billions of dollars overseas. Priority.
[00:17:58] That's always been my focus. So when then President Donald Trump came in office and he was heavily focused on the border, heavily focused on economy, he wasn't catering to the minority. In fact, he trashed the whole taking a knee bullshit. Sorry, is what it was. He trashed that garbage. He said, look, if National Guard, I'll send them in there if you guys can't handle it yourself or the Portland things, he was trying to do things that were more about everybody benefiting people that don't like him as a person. They're saying, okay, I'm not going to vote for him because he does mean tweets. I'm not going to vote for him because he sleeps with porn stars. I'm not going to vote for him because he's rude or I'm not going to vote for him because he lies. Let me news flash it. Every last person has been that damn office has lied to you about something. Certainly Obama absolutely did. Biden did on a frequent basis. Biden did even more than Obama did, which surprised me. But Obama, oh, you like current plan, you keep it, period. That wasn't true. No new tax on the middle class that wasn't true. Like, he lied and lied and lied and lied. And it wasn't till the tail end of his second term. All of a sudden people realized, man, this dude is a freaking liar. Trying hard not to swear. It's hard. And then Joe Biden, geez, I'm not even going to go there. The point is, all of them lie, so you can't. I personally, you can't look at lies as just a measure for why not to vote or vote for whatever. I look at the economy because the economy benefits everybody. We all depend on it, and it's got to be strong. If you don't have a strong economy, we suck right in our school system. Kids that can't even fucking count money. I'm sorry, I had to let that go. Kids that can't count currency, they can't. That. That's mind boggling. It's scary. I shouldn't say mind boggling. It's scary to me to see children, and at some point I say children, you know, they're like 18 to 20 years old. That can't count change. These are fundamental things. Like, even at the basic level, are we saying none of these kids played the game of life? None of these kids played monopoly. And I understand monopoly doesn't have raw change in it, but are we saying they never touched any sort of anything to tell them how, how to count currency? That's scary to me. I'm sorry. We shouldn't have a future where people are reliant on technology that's prone to fail, as was evident out here with the cars that couldn't charge out in Chicago when it's too damn cold.
[00:20:30] You got the cell phone at and t. Went totally toast. Everybody was using at and t with my endeavor. The people I work with, they're all on at and t. And I'm sorry I had to take a victory lap on them because I'm like, this is why I do landlines, because the landline is your basic Internet. The basic Internet does not have this kind of a problem. It just doesn't and I actually have two Internet providers, technically three, but I have two primary Internet providers. One of them is cable. One of those fiber. The cable does my endeavor. The fibers. What I talk to you on, why do I have two? Because I. Separation of duty, separation of data, separation of security, separation of. Of billing. Right. I. One is tax deductible. The other's not. Like it's thinking through all this, all of that that I just described to you in terms of the ability and the thought behind different Internet providers, taxable versus this and versus not having to plan around outages, having to think about these is all doable based on a strong economy. A strong economy is what enabled me to find the client. The client and the money I make doing the work I do for the client, which is starting to ramp up, by the way. That money is what enables me to then buy the house. Right. Rates are slightly higher than I'd like them to be. I'm kind of tolerating it because I make enough money that I can pay off the home soon to where I'm not paying as much interest as I might do, and then it becomes an asset which ties to net worth, which ties to other things. And generational wealth. Like a strong economy is what enables these things. A strong job market enables these things. Light laws on consulting and contracting enable these types of things. I'm going to have to engage multiple people to be able to do this. So to me, the economy being strong and being firm and being reliable should be the number one thing, in my opinion, on everybody's mind. And it's not. We've got people who are voting based on, you know, can this person over here walk into a store singing, man, I feel like a woman, and walk into a bathroom not of their gender, and that's their priority issue. You've got other people over here who swear that gas vehicles are going to kill us in five years. And they've been saying that for 40. You've got people who swear up and down that an oil drilling is going to kill us in ten years. And they were saying that for 50, like, the priority is all screwed up. And if nothing else, of Donald Trump, he was focused on things that benefited everybody. People would say he benefited Republicans. He been ever in it. The economy benefits everybody. It doesn't benefit Republican or Democrat. It benefits everybody. What you're missing are the freebies, because that's what he was against. And I'm against. I'm against freebies. I'm against this idea that random people should be able to bleed from the system without at least trying to get a job or at least trying to work for a living. I'm a fan of working. I'm a fan that you earn it. I'm not a fan of freebies. I'm not a fan of universal basic income or anything else.
[00:23:36] Where does this tie in then, to cryptocurrency? Well, money availability is largely one of the catalysts for the run ups that we see. The run ups that we saw, 2020, 2021, the run ups that we saw were around, said stemmies, which was just money given away. But what happened when it dried up? We were right back down. So think about it. If you can make money flow a little bit more freely without having to give it away, we should, in theory, see more money coming into cryptocurrency, assuming we make it easy to get it. Obviously the bitcoin ATM's are a ripoff. You know, I'm talking walk into a bank and buy the duh duh duh duh du duh without having to show id. It's a commodity. If it is, let's do it. But if you free up availability to money, then we see evidence that money is going to flow into cryptocurrency. As a result. Studies are being done right now, and the studies are telling a very obvious but clear interesting story. The story is that now voters are starting to look at the economy like I've been screaming that they should. And as part of this, they're leaning very strongly towards crypto friendly politicians.
[00:24:51] Crypto friendly politicians. What does that mean? Joe Biden has frequently told you he doesn't like cryptocurrency, wants to get rid of it, thinks it's a danger. Same with the Janet Yellen's and the Gary Genslers. And everybody in the Biden administration has adamantly told you they're trying to get rid of cryptocurrency. So what does that say? It says they're not lockstep with the people who, like myself, think the economy is in a bad spot and needs help. Since it needs help, let's get it the help that it needs by opening up. Not giving it away, but opening up the opportunity to make money. Cryptocurrency is one such opportunity. Donald Trump, I like the dollar, has said he's relented. You know, I get it. If that's what they want to do, I will support it because I'm not going to be a barrier. I still prefer that. You know, I like the dollar. He still prefers it, but he's no longer anti. He used to call bitcoin a scam.
[00:25:45] So he's, he's come around because Vivek Ramaswamy's in his ear. I'm sure Melania had the part to say because she has nfts and stuff. So people have been in his ear and they've made him come around. But he still likes Fiat. At the end of the day, he just doesn't want something that threatens Fiat, and neither do I. Fiat's going to make the world run around for centuries to come. I guarantee this. Robert F. Kennedy, which I think he has a long shot, no chance in hell of winning, but he's still fighting. I give him credit for that because I think he's running independent. So he's still fighting. He is crypto friendly. He's going to be at the consensus, the crypto consensus. So Robert F. Kennedy, he's doing his thing. Donald Trump's doing his thing. Joe Biden, meanwhile, consistently says, and his whole administration consistently is anti crypto. So anybody that's listening to me here, cryptotalk FM, and you are in the United States and you are a registered voter and you plan to vote in this election.
[00:26:41] I'm hoping you're like me, that you care about a strong economy. I'm hoping that you're going to use your desire for a strong economy to judge who you vote for, not whether you like the person or not. I don't give a damn about Joe Biden as a person. The bottom line is he is against what I support, period. Kamala Harris is a different situation. Kamala Harris, during the whole campaign trail when she was trying to be president, sat up there, called Joe Biden a racist to his face about the whole busing situation because she was one of the ones. And Biden just sat there like a freaking rock, and she, she was there attacking, and then turn around like slime and become his veep. So she has no credibility with me. No matter what anybody says, she has no credibility because your morals have got to matter. That's, I judge you on the content of your character, not the color of your skin. I'm talking how I judge you. I recognize the different colors of your skin, but I judge you on the content of your character, not the color of your skin. Kamala Harris is nothing to me because of what she did. So she already, she's off the wash. She's not credible. She's not respected. She's nothing. Joe Biden is anti everything I support. He does not support a strong economy. He's rushing towards Ev's when we're not ready, as we've seen evidence of with the whole Tesla thing, them laying off on the charger set, they're not ready for it, which is what I said and been saying for years. We should be at hybrids right now. Hybrids are the best next step for vehicles, not suv rush just because some Americans love it. We should always have sedans, we should always have convertibles, we should always have manual transmission, but we should, more importantly, have more hybrids on the road. We should not be rushing to EV's. We're not ready for it. From an infrastructure perspective, it's not. You have rolling blackouts going on in California all the fucking time. So how can we justify an EV world but Joe Biden's rushing to it? Because there's the Greta Thomburgs of the world who were screaming about climate crisis and all this nonsense. Climate change is a thing, the climate hoax is a different thing. I don't like that Joe Biden caters to those voices. He's catering to voices who don't know what they're talking about. Because ultimately what we're trying to rush to, we're not ready for. It's not that we shouldn't transition to cleaner fuels. It's not that we shouldn't move in a cleaner direction. It is that we're not ready for that transition immediately. We can do it in steps. We did not embrace hybrids like we should have. That's what Joe Biden should have been pushing on is let's get to hybrids because that's a logical next step. It'll cut our fuel use in half. Arguably, we're not getting rid of gas stations. I saw that on frickin social media. Whoa, world. No more gas stations. Do, do, do. You fucking idiot. So Joe Biden should have pushed to, and he's not a conservative. I get it, but that's a conservative mentality. Let's tiptoe into this thing. Yes, we'll create a plan to get there. I'm sorry, little, little girl. Greta, you shut up. We're going to take this right. We're not going to rush to it just because you're screaming and angry at people. Step one, let's start getting hybrids in there. So auto manufacturers, every new car you make must be a hybrid engine. It should not be leaping to ev because we know we're not ready. Figure out how to get hybrids on your existing line. Don't leap to ev. If you want to have one ev on the, on the lot, that's great. Don't leap to it. You need to have hybrids available for people who want to buy it. I still say you should have at least one line. That's gas only. Why? Because of cost. Gas only vehicles, in theory, should be cheaper than hybrids. And we've seen that pan out. So we should keep gas only vehicles for those that. So we don't price everybody out of the fucking market. And we shouldn't be saddling everybody with auto loans. They already are going to have to struggle with auto loans and mortgages that are sky high, not to mention credit card rates that are sky high. That's what Biden should have done. The second thing he should have done during the pandemic, because he took that over. He should have told all the credit bureaus. Any negative reporting, and I mean what I say here, because I used to work at a bureau, so I know the scam. Any negative reporting that went on somebody's credit during the pandemic period, which we declare as the end of 2019 to roughly the end of 2020, to any negative reporting, you're going to delete it. Treat it like it never happened. If the customer is not still behind on payments, treat it like it never happened. Wash it. Anything negative, I don't care what it is, is as long as it originated prior to the pandemic or during the pandemic. Wash it, clean slate. It's not fair to people. They could have lost their jobs because we locked the shit down their school. There could have been school issues where they had to deal with the schooling situation. Our stemmies were a pittance, and we didn't pay them enough. The unemployment was hard to get. Like, we made it hard on people. So it's not fair. Now you banks. The reason he didn't do that is because it benefited the banks to have lower credit scores. So what happens then? You have lower credit scores across the board. Banks are hesitant to lend to those, so they put them in subprime. Subprime means they can charge more back to the customer in the form of interest rates. The higher charges on interest rates means the banks pocket all that money and get fat off your back when it was through no fault of your own that your credit might have taken a dip. See, Joe Biden had the opportunity to prove that he truly was better than Donald Trump. He didn't prove that. He didn't want to prove that. He still doesn't want to prove that. He just now acknowledged he's willing to debate the guy after Trump was calling him out left and right to Sunday and I don't believe that he is going to debate Trump, which would be a crying shame if he ducks that smoke. So now I look at essentially a lame duck president who didn't really get much done. People talk about the job market. The job market is recovering largely because the pandemic is lightened up and many of the states got rid of their lockdown requirements. That's mostly what happened. That had nothing to do with him. That had to do with the state levels. The states taking on more power, taking on more authority to serve the people that are in the state, strengthens each and every one of them. And what does it do? It does segregate us to some degree. But the truth is, the segregation started with Joe Biden up front when the man sat there and said unity, only to get up on the stage, on tv and threaten Americans who didn't do it his way while shipping billions over to Ukraine. So forgive me if I don't support what he's doing with my money. Again, it's all about the economy. I have nothing about the man personally. I'm talking about money and the way he handles it and the way he treats it. And I'm likely not alone. And I'm saying all this so you understand, because if you're a voter and you're supportive of a strong economy, like I am, considering how the economy, the strength of it, or lack thereof right now, is impacting the price of cryptocurrency, which impacts your pocket, and consider, if you have these negative feelings about any of the candidates, whether those negative feelings should play into how you vote, as opposed to the candidates going to get money back in your pocket, because I can almost assure you that money back in your pocket is going to make you feel a hell of a lot better than worrying about some mean tweets. That's all I'm saying. And it seems, based on the survey, that more people are starting to wake up. Unplug from the matrix and understand what I've been saying. It's not about how you feel about the individual sitting in the chair. If that person's taking money out of your pocket when they've never met you, never going to meet you, and they just keep on bleeding money out of your pocket, are they really worthy to sit in that chair in the first place, or should you vote in the fuck out of it? That's all I'm saying there.
[00:34:42] So let's talk ETF's real quick.
[00:34:46] I am. I have bitcoin, ETF's. I've had bitcoin ETF's since they launched, I chose the fidelity bitcoin ETF. I felt like it had the cleanest graph. I felt like it was the smoothest, most predictable, most logical. Seemed like it didn't, couldn't fail right. And it's been consistent. I've just kind of left it alone. I did take some profits out of it, but not a lot. But I did take a little bit of profit just to have some, you know, some spending money. But it's been largely reliable and mostly out of sight. I don't check it on a regular basis. It sits in one of my banks and I don't do anything with it. But inflows to bitcoin ETF's started to creep back up ever. Most recently, Fidelity leads the pack. Fidelity has the top inflows. Very most recent, there's over, there's millions and millions of dollars of inflows for the bitcoin ETF's. At one point I mentioned that the bitcoin ETF's, there was going to come a time when if money started flowing into things that were not crypto directly related, it was possible that the ETF's would benefit simply because they're added to a portfolio along with bonds and stocks and other types of investment vehicles. And I suspect that's what's happening here. As I mentioned, it looked like money was simply flowing to other types of instruments, with the ETF being one said. And so if I'm right, we might see more money flowing on the bitcoin ETF side. Well, there's going to come a point where this drop is going to plateau and the bitcoin is going to go back up again.
[00:36:18] The having so that added a constraint, and then the value increase that we expect is going to happen on the bitcoin side could lead to a strong value increase on the bitcoin ETF's. This is going to be an intriguing thing. This is why I wanted to get a significant amount of them. You know, I don't have a crazy amount, but I have a pretty good amount that I was able to, you know, get a lot of money out of it, you know, when it's spiked. But I wanted probably double what I have, and I wasn't. I had a price which was 35 per, and it jumped to double or whatever. But I'm curious to see where this goes. I'm curious to see how the price moves on this. If the price continues to go down and it hits my price target, I'll buy some more but if it seems like it just starts skyrocketing and spiking like I think it might, and I'm targeting probably Q three. When I say that I'm intrigued, I'm really intrigued on these, especially with the having, especially that I'm intrigued to see what the price is going to look like with this business. So if you don't have bitcoin ETF's and you're curious about it, you can. It's easy to get in if nobody told you. It's easy to get in if you. Your bank probably has some sort of investment setting or some sort of an area menu for investments. I can't tell you exactly where it is because I don't know what your bank is, but chances are they have some sort of investment. Something. That's where you would go. If you have a 401k, you can go through there. If you have an IRA that you can go through there. Anywhere that you're doing investing, that's where you would go for the bitcoin ETF's. Then you would search like IBTC, GBTC, FBTC and they're gonna come up, you're gonna see them there. Or I bit. Ibit is blackrocks and you're gonna see. And they're just like any other investment that you would have. It's anything else. It doesn't look like crypto at all. It's just a regular investment. So you can buy in just like you're trading, you know, whether it's a market trade or a limit order like any others that you would do. So if you already have investments in things, it's. It's part of your existing vehicle to do it. Some states may prohibit you doing it, but I'm not aware of any that do. So I do recommend if you get a chance to get into that because I think it's a. I think it's an opportunity at some point in the future to make some really good money or just long term investment or maybe you do it, you know, for beneficiary reasons. All right, let's close out with the comedy comedy nonsense. But I did an update a while back on sheet owing you, or I guess he calls it shido, but she do in you, she do that. Launched a blockchain, then they got breach for billions and billions. Tokens got breach and they're the, they're in the process of launching their v three. So three freaking migrate that v three. Three freaking migrations this business. The price has been just tanky like nuts. There's still some buy pressure on it, but it's been tanking like absolute nuts since what happened. The sentiment is absolutely the trash. It reminds me a lot of that freaking paratoken in just a screw ups on this one. And I didn't have a stake in it. I never have. But I did the coverage because I knew that, you know, there was first the breach. I wanted to spread the word and it seemed like there were some people truly interested about it. So I was looking at comments on coinmarketcap and I mentioned I first of all I had a weird interaction with coinmarketcap deal. Apparently they have bots that will just delete randomly delete posts so you can put a good post up there and they'll delete. Like I did one thing that was explaining something that happened and got deleted. Like dude, what does it get deleted for? Well, we have some automation like frickin bastard. So other than that the content is still funny, but I'm not as sold on it as I am. Anyway, comments on this business were absolutely hilarious and I didn't know some of the stuff and I learned some things. That's what I wanted to share for the close out here.
[00:40:25] User batshit crazy crusade says quote I wonder if we'll be able to vote on sacking Bjorn in the on chain governance module that's meant to be launching early next month but won't because Shido never deliver on time.
[00:40:41] User Kryptos says report this scammer.
[00:40:46] That's all it says.
[00:40:50] User batshit crazy crusade again says Shido has now minted an extra 23 million tokens on the mainnet deflationary blockchain at its best. Wouldn't expect anything less from the Shido team community. First no and same user again quote I'm bearish on Shido's circulating supply increasing user Zelda four says quote he gives us a snippet of code which I think came from the contract. I think it says one project with two migrations, they're scammers.
[00:41:27] And another one says leave this scamming project.
[00:41:32] User M nine l Tap Vidmmu says she does a scam, adding another zero.
[00:41:41] User crypto John Doe says look at this post trying to manipulate you. This is not a burn, it's a swap. People swap ERC 20 for the shido token on their blockchain. The total supply does not reduce. This is why I lost trust in this team. They're always manipulating the truth. This is not a burn. They've not burnt anything. The supply is the same. Increased supply it was after the increased it from 13 billion to 18 billion. So I can affirm that the supply increased. It increased by 5 billion, apparently, and I didn't, wasn't in there. But apparently this was because what they said was that they had to mint more tokens to offset something. And I don't know what that was all about because I've never seen projects do all this stuff. And this was in response to a post, I think this is on Twitter or actually might be Facebook or somewhere. I don't know where they were talking about burns that they were doing. They burned 10% supply worth $1.7 billion. People saying you didn't really burn anything. That's not true because you, you basically minted tokens on your blockchain, but you still have tokens out on the ethereum chain, so you didn't really burn anything. Stop lying to people.
[00:42:53] User crypto John Doe again, quote Shito's down 90% in 90 days, guys. This is a slow bleed to a coin that will be down 99% by summer.
[00:43:03] And again, users crypto John Doe Price is down 61% over the past month. Since I shared this post below, everything I called out in that post has come true. Anyone telling you to buy Shito as a team member or a bag holder trying to offload their losses onto you, do your own research. And then user Pierre says quote sheet is a scam, but ignorance is blind. Put everything you got on shido if you believe in it. Don't just add the little fud icon to comments to call it a scam. Go all in, I dare you.
[00:43:33] And then apparently there's supposed to be an AMA. So this bjorn person, apparently this is like the lead device, and there was gonna be an AMA. I looked at the AMA. Geez, this guy. So first he turned off comments. That's already red flag. Number one. This was on April 26. This guy looks like the bastard kid of Robert, of Richard Hart. He looks the eyes, the skin, the hair. He doesn't talk like Richard heart at all. He talks like he's terrified for his life, like somebody's chasing him to hell down, like he's in hiding from some mob or something. He talks like he's absolutely terrified. I know he's not, but he talks like it. But he looks like Richard Heart's bastard kid. That's exactly what he looks like, just FYI.
[00:44:17] And so this whole business of the minting and the breach and all this other stuff that happened, you know, whether it's shido, whether it's cytochain like, dude, this is why I say, you know, the blockchain doesn't matter. It doesn't matter because sentiment, when you hurt, sentiment, when you piss people off, when you frustrate people, they're putting, they don't like, none of these understand how you come across to the public when people are looking, right? They're looking at all these messages of all these people calling it a scam. They're going to look at this shit and they're going to say, okay, well, I'm just going to avoid this then. And that's why these tokens are dropping. That's why you see so many of these failing. Because once they start screwing up on a regular basis, that negative sentiment just permeates. And we're not talking. This isn't FUD. FUD is false information designed to harm something. None of what they're saying is false. It did breach. They admitted it breached. It is a v three. That's multiple migrations over. It did mint tokens. Mind you, Shido was the one who claimed they could not mint tokens, but Volt could. So who was really lying here? Now, I didn't see a mint function in the contract. That means they were pretty damn good about hiding it because I damn sure didn't see a mid function anywhere in that code. And I looked. So now you got shady business. So then claiming that you don't have a min function.
[00:45:42] I didn't see one in obvious. So then apparently I didn't see how they did this, but it had to be some sort of proxy contract somewhere. So that's another shady business. Then you get the ama from this BJR dude. And again, bastard kid of Richard Hard comments are off, scared to death, and he's in his talking like every one of these, they don't seem to understand. When you put across these negative impressions, how the fuck are you gonna succeed, dude? Like, you can't, you can't. You're getting it so wrong and you just keep doing it. You keep screwing up. This is another one. This is another one. Just like all these other ones that just can't seem to get it. They can't seem to get it straight. And as I said, with safe who on the car salesman. Sometimes you just got to get rid of the leadership and start over. That didn't even help. Side of chain. So maybe I was wrong there. And it's not. That's not that simple. I don't know what will help things like this. I don't. It's just going to be what it is, because if you're just randomly minting tokens out of thin air, you know, and getting breached like crazy over here and all that, what. What good are you? You know? You're. All you have is Fomo. All you have is the. I. Maybe you hire some bots to try to give fake volume in the hopes that there's some fomo buy in on this stuff. So if you're in shadow, the. It's going down, and there's still some buy activity, but it's going down. I'm not telling you what to do with your money. Never have. I'm just warning you that it. I don't get a good feeling from this, and I'm not even calling them scammers because I don't know. I can't prove it. I'm saying this lead dude, who I'd never seen before, this. He. Again doesn't. He looks shady as hell to me.
[00:47:26] And the sentiment is all the way in the trash, in the public, just like, beside the chain, just like with crypto, whatever, just like with, you know, impact, all the other ones, all of them terrarium, all of them.
[00:47:39] So I.
[00:47:41] I hate seeing that, you know, during a time when something like dog with hat, just absolute crap goes on, major runs, you know, I hate seeing it. I hate seeing ones that at least talk a good game, and then the ones that don't talk at all seem to be getting people's money, and then people that are looking for serious investments, which I advocate for, get completely trashed by garbage like this because the people don't know what the hell they're doing anyway.
[00:48:10] Long term, who knows what's gonna happen with some of these?
[00:48:15] I'll tell you this, though. I don't pay as much attention to cryptocurrency like I used to. I still talk about it, but I don't pay as much attention to it, you know, as people live on the freaking. I don't. You know, I don't. I don't do x. I let the account expire and then bleeds, got breached. I'm like, screw all this. It's not worth it. It's not that I quit. I'm not quitting it. You know, the casual talk is still active. Combat talk. Those social media accounts are still active because they get left alone because they're not crypto related. It's the crypto related ones that get attacked. Well, between garbage like this and crypto accounts getting attacked on that one. And, you know, the market cap, $2.3 trillion going down.
[00:48:53] You know, it just wasn't anything to talk about. I gave my out a cycle because that was important with the coinbase business. Other than that, there wasn't very much to talk about. And then I just saw this crap the other day, figured I'd talk about it. But it's a completely different world, folks. It's not even close to what we have. Even in 2021. Will it get better? Sure. When? Who the hell knows? I think. I think we're probably about a good six months away from any sort of useful information. I hope I'm wrong.
[00:49:27] And it does tell you, though, you know, big picture.
[00:49:32] When I say you can't get rid of Fiat, you can't. Because no matter what you do, fiat is always, it's tried and true, time honored. It just is. It doesn't have these kind of issues, so you can always rely on it for transactional things. Everything else is a pipe dream. You know, it's dreams. Dreams of a world where you don't need the fiat. You're always going to need the fiat, no matter what, because you always got shit like this, you know? So I don't know. I think we're fine. I think we're good. I think it's just time, again, cyclical. We had a run, and hopefully you're able to maximize that run, and there's still going to be more opportunities to run. But either you're a gambler, you roll the dice, or you realize that these solid ones are not as solid as you might have thought they should have been or could have been. It.
