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Someone Needs To Tell Kamala Harris That She’s Still The Underdog
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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, lyster. Thank you for that, Bailey, and welcome everybody out there on Crypto Talk radio. [email protected]. dot coffee and criticism all around. We need to talk cryptocurrency and what's happening. I am still not following it closely. I'm observing it, just coming, you know, listening in on chatter and all that stuff. And then various physical ailments prevent me from focusing a lot of attention on it. I have to do what I can, you know, during the decline. So I've been focused on my endeavor. That makes me actual money, unlike crypto. And it's not that I don't make money in crypto. It's simply that, you know, cryptocurrency is a secondary thing. I make a fair amount in trades. I mean, I can find ones, if I really set my mind to it, I can find ones that'll make me a couple hundred dollars a day. Some people don't make that at a full time job.
[00:01:06] But all of that assumes or presumes a level of volatility such that you could take profit so that you can benefit from those gains. And the volatility has to be pretty significant if it's something where it's a YouTube, you know, pump and dump risk. And I don't mean that they're trying to do it. I mean simply that there's, let's say a pre sale or something, and it goes up and then goes down and never recovers, which most of them do. It's then you're scrambling. I don't scramble, I don't stress it. A lot of people online seem to be stressing cryptocurrency. That seems to contribute to the sentiment shifts that I'm seeing. Some of those sentiment shifts are to the positive, but the vast majority are not. There's still this chatter about China unbanning cryptocurrency, and some people are skeptical that's going to be a thing simply because of the, you know, the nature of how they work out there. I don't fixate on it. I watch the news. And the bigger part of this, I think, is the United States, because if the United states takes action, the other countries are going to follow suit. It's just what it is. Russia took action simply because they're Russia. But the, the other ones, they're not going to do anything significant unless the United States takes specific action.
[00:02:23] It's possible that they see Donald Trump having a strong probability of winning the race and as a result, decide to try to get ahead of him. That's possible. That could be spurring a lot of the chatter around China, because, of course, China is been a mantra for Donald Trump. Kamala Harris, meanwhile, I'm going to just level set something and make a statement of definitive fact for the very rare situations that I do. But I'm going to make it. Kamala Harris is anti cryptocurrency. Kamala Harris is not going to do anything to support cryptocurrency. I don't care about the news talking about Kamala Harris bringing pro crypto people into her circle, you got to understand that Kamala Harris, just in the DNC stuff, they have not been talking about cryptocurrency at all. And that's what people are waiting to hear. I want you to, and this is my request, I want you to ignore all these phony polls, fake news polls out there telling you that Kamala Harris has surpassed Donald Trump. We learned a hard lesson when all the polls told you that Hillary Clinton was a lock and Time magazine put that Madam President garbage out in anticipation of her taking office, when all that happened is she got trumped, pun intended. We need to start ignoring these polls because the polls use data that is slanted towards the candidate that they want to go in office, not necessarily the truth. And so the bottom line is, is that Donald Trump still has a level of popularity leading into this race. And I'll argue that some of that is simply because people, they're disappointed with what's happened with Joe Biden. They see he's incompetent. They see he's senile or Alzheimer's, whatever it is that's wrong with him. They see he's not, he was not viable. And chances are he was never viable. Kamala Harris has never shown any competence. And people have called her out. Ironically, a bunch of women have called her out for the fact that she just says a bunch of stuff, but really says nothing. So she has nothing of substance to contribute. And she makes them look bad. That's why all these women are calling her out, because she makes them look bad. She's not a good speaker. She sounds good. She doesn't say anything. There's nothing behind it. And then you get protesters, the whole pro palestinian protesters out there who have a, they have a legit beef that they're trying to share.
[00:04:40] And all Kamala says is, I'm speaking, you know, like Vicky Guerrero and WWE, that's, that's not going to get you more voters. And then to say, oh, if you're a Trump supporter, just say that. Listen, I don't think whoever is in her ear understands how she comes across. She does not come across as somebody who is welcoming of people who wants more votes. She comes across as somebody who feels like she's entitled to votes. Entitlement generally leads to failure, as Hillary Clinton had to learn the hard way. So if anybody in that whole campaign, I know I have a couple centers, listen to the show.
[00:05:21] If anybody is in her ear or somebody near her, somebody needs to sit her down and help her understand that that entitlement message has to go away. The Simone biles level entitlement message has to go away. The Greta Thunberg level entitlement message has to go away. You cannot come at people with an entitlement message. Your message has to be one of endearment, not entitlement, as in the, you are the underdog. I dont think you understand.
[00:05:54] You are the underdog in this race. Youre not the underdog because youre female. Youre not the underdog because you present yourself as a black woman. Youre an underdog because youve been incompetent and largely ineffective for an entire span of the Biden administration sitting behind him while hes screwing stuff up and youve done nothing.
[00:06:16] There are things you're talking about doing now up there on the stage and people keep calling you out, well, you're in office now. You could do this now. Why don't you do it now? And you got no answer. Meanwhile, you have an entitlement messaging. Entitlement is not going to win you the race. I don't care what you think. The one thing Barack Obama did actually good, he was able to beat Rich Romney because Rich Romney came from a level of entitlement in his messaging. Where Obama came from a message, whether the message was a truth or not, came from a message of unity.
[00:06:51] I'm simply saying if anybody's in common circle or has their ear, somebody needs to help them understand how she's perceived. It is not one of endearment. It is not one of I really want your votes and I'm willing to work to earn it. It's coming from, no, you should be voting for me. Why are you voting for him? I deserve this. I'm vice president. No, bro, you know you don't. You haven't earned anything because you didn't do anything. So people are skeptical that you'll do anything. Now, just like with Mike Pence, it's the same thing. The veeps were incompetent. They're ineffective. And if they're ineffective, you certainly don't have this. You know, people were afraid that people were legit nervous that Vice President Kamala Harris would just be elevated to president if something happened to Joe Biden. That's how bad it is. So this affects cryptocurrency in a very specific way because cryptocurrency, I said, is going to be the breaking point of this race. It's not going to be abortion. It's not going to be women's rights. It's not going to be the person believed to be a trans person running in the Olympics or fighting in the Olympics. It's not going to be any of those issues. It's not going to be Simone Biles and breakdowns and all this. It's not going to be, you no longer have Epstein's, you no longer have these things that you can point at now it's going to be cryptocurrency. It's the only thing left. And to a larger degree on the macro level, the economy. If the economy is not focused on by whichever candidates, they don't have a strong chance.
[00:08:22] The one who focuses on the economy, and I'll, let me. Spoiler alert. Donald Trump and JD Vance have been speaking about it repeatedly, and they've gone to the battleground states and they've gone to the blue collar and they've emphasized the importance of fixing it. Doing that is the message that's going to help them win. Kamala is not doing the same thing. Kamala still focused on the same stuff that hasn't worked. There's a messaging to get rid of the Doe. There's a messaging to get rid of the Federal Reserve. There's a message. All of this is around how money is being used or improperly used. And unfortunately, Kamala is not giving a message of change. She's not giving a message to change because Biden's still in office and she's still vice president. If she gives a message of change, it's an acknowledgment of failure. Do you understand why I say she's the underdog? She's the underdog because no matter what she does, if she can't, if she doesn't give the same message in support of where she is now, she looks like a hypocrite. If she gives a message in contrast to what's going on right now, it makes you look like a hypocrite. No matter what she does, she is the underdog, which means she has to work harder. And that starts with an acknowledgement that you are coming up as the underdog. You're not the favorite because your messaging does not say that you should be, because you're coming from a place of entitlement and cryptocurrency. And the demand for cryptocurrency, as evident by the graph movement that I'll talk about here in a moment, is telling us all. It's telling the world at stage that know there this is being suppressed, not actively suppressed in the sense that the government's pushing back on it. It's being suppressed because there's no support coming from all sides. You still have an acknowledgement in 50% of who's running that there has to be these excessive regulations. We got to lock this down. We got to crack that. They're still doing the same mantra, despite the fact that it's clear that they're want. They want to have support on it. And we know that if the United States leads, the rest will follow. That means that this election is more important than you might have thought it is. This election could be the make or break for another run. And when I say a run, I'm not talking a run back to where we were. I'm talking a run beyond where we were. And general acceptance. I'm not talking CBDCs, I'm not talking banks issuing crypto and some of the other conspiracies that I've heard. I'm talking about simply a general acceptance that this is a thing now. People want to trade it. It doesn't have an inherent harm. It does have inherent risk. As long as there's education around what that risk is, and as long as we lock down some of the other shady actors, I'm talking the shillers.
[00:10:59] You have an opportunity here to leverage cryptocurrency to support our economy and help us avoid what's on the, on the forefront. What's being forecast now is another housing bubble. The housing bubble is born from what happened during the pandemic when they took over aggressive actions to try to restrict stuff and bring down rates and encourage buying, and they lightened up rules and did all this nonsense, and it was a powder cake. Now you get a bunch of people who took out a bunch of loans because they're sitting at home, because they were locked down to do improvements on the homes, and then those homes go to negative equity, and then what happens to they want to try to short sell the homes. They short sell the homes. You disrupt the supply. You disrupt the supply. Then what happens? The prices of homes start to decline. If the prices of homes start to decline, what happens? It brings down the value of the homes of the people still there and creates a domino effect. I'm repeating what happened in 2008 because that's what's being forecast. How does that connect to cryptocurrency? It connects to cryptocurrency in one very simple way. Think of the probability that some people use their homes as an ATM machine, taking money out of it solely for the purpose of dumping and yoloing into some garbage. Cryptocurrencies. Consider what happens when those loans get disrupted. The moment that they see that they're at risk, they're going to liquidate those cryptocurrencies to help pay off the loans because they don't want to lose their home or they simply lose the home. They go into foreclosure. They're sitting on cryptocurrencies that have lower value because everybody else was doing it.
[00:12:34] All I'm saying, and I'm not trying to give you a doomsday situation, I'm saying that the economy is the most important issue we have right now. That's not being acknowledged by 50% of the race, and that's a problem. And when I say 50% of the race, the rumor is that RFK is going to come around and endorse Donald Trump instead of continuing to run because he knows he has no chance of winning. It doesn't matter how much support the man has, he simply has no chance. It's too late for him to have run. This is too hot of a race. You're basically talking about Donald Trump versus Kamala Harris. Assuming Donald Trump survives and he still lives, that's what you're talking about. And I believe that cryptocurrency is the breaking point between who is going to edge it out this time. I don't think it's going to be anywhere near as close as it was in the last election. I could be wrong. I don't think it will be. I think a lot less people would vote for Kamala Harris than did vote for Joe Biden, irrespective of the fact it's Donald Trump simply because he's saying the right things that people want to hear. He is focusing in the right direction because everybody knows it's a shit show. Everybody knows that financial harm has been rendered on all of us, regardless of how much money you make. It's not just the middle class. It's not just the low class. Even the celebrities, rich though they are, are complaining about it. There was a joke Dave Chappelle just did. Some heckler in the crowd was talking about, what are you going to do? Donald Trump wins. And he's like, what? I'm going to do it. Donald Trump wins. Probably have a lower tax bill.
[00:14:08] This is where we're at.
[00:14:10] He's not telling, he's not telling any lies. It's the truth. It's the truth.
[00:14:15] Lower tax bill has other implications. But the point is when you have celebrities who acknowledge, look, things were not good under the Biden administration, I'm not going to go as far as say he's the worst president ever like Trump did. But it was bad. It was bad for everybody. He inherited some of it. He inherited the pandemic. Trump did not cause the pandemic. Trump tried to lock down the borders. Trump tried to prevent the spread of it, just like North Korea did, when North Korea was effective at preventing infections inside because they locked their borders down. Trump tried to do that. The Democrats called him a xenophobe and blocked him and had social media turn on him when he tried to do it. But Congress blocked him. That was Democrat Congress, by the way. They blocked him from what he tried to do. So, no, it's not true that Trump caused, quote, the pandemic. Trump tried to stop it because he tried to lock down the borders. We had this narrative about xenophobia, and that's the reason that he was blockaded from doing what he felt he needed to do. It gets in, they do the fast track of the vaccine. At no point did he force you to do it. He said, I strongly encourage that you do. And he made it openly available and at no cost. He wasn't trying to force it. Biden gets in there and they try to force it and force it in people's arms. What happened? People are still catching it. Why are people still catching it? Because it was never going to. Despite Biden going on the air and saying, you're okay, you know, you're not going to catch the dude. It didn't matter. You still caught the thing. You got lied to, so it didn't matter how many boosters you shoved in your arm, you still caught the stuff because they lied. Because that's why Trump wasn't trying to force it. He knew, look, people got to make the choice for themselves and we should not be fear mongering, which is an Anthony Fauci strategy stemming all the way back to the AIDS pandemic when he was there in the front and he was stemming that fear. And we repeated that and people ran with it because social media was in bed with the government supporting the message that you should be afraid and you should be terrifying and tattling on your neighbors about what they do and don't do to the point that out there and now, this is this Tim walls nutcase who came from the state, who sent actual soldiers out on the street with tanks shooting paintballs at people sitting on their porches during the pandemic. Folks, I'm simply telling you, you have an underdog in Kamala Harris and Tim Walls. They are underdogs. That's what they are. Because both of them have been inept and incompetent and ineffective and insufficient in everything that they did leading up to this point. And Kamala Harris is in a position right now to affect change and has shown no desire to do so. Because she doesn't want to contradict Joe Biden, because it makes you look like a hypocrite. If she does her own messaging and stands on her own, it doesn't matter if Obama supports her. Like I heard he was going to go out there and put his foot down and support her. It doesn't matter because she is an underdog. Because she is stuck, stuck, stuck in the corner. She cannot contradict because it makes her look like an idiot. Because she's in the office now, what she might want to say, she's not going to be able to do it. She's hoping that she wins and then all of a sudden it might be a changed message. I don't think it would, but it might. Right now, it's a stuck situation. And that needs to be clear because it's a stuck situation. She has to support cryptocurrency.
[00:17:42] If she does not support cryptocurrency, she will lose, most likely because the economy is the break point. The problems with the economy is the breakpoint. That means she has to acknowledge they failed, they got it wrong, and her administration would course correct and do it right. She has to acknowledge basically what Mike Pence did near the end. You know what, I don't agree with Biden's policies. I don't agree with what he was doing. I don't agree with Gary Gensler. I don't agree with Janet Yellen. I don't agree with Warren. I don't agree with these people about the economy. I don't think it's the right answer. We needed to course correct I've raised this message in meetings. It's not been heard. So that's part of why I'm running, is to help fix the economy. Economy.
[00:18:26] That's the message. Not her being female, not her acting like she's black. None of that. She's got to talk about the economy. She's got to talk about cryptocurrency to sway the voters. The young voters. The young voters right now are concerned about the economy and concerned about the money, and they're concerned about the bottom line and their futures to some degree. And that's not been, that's not been focused on Biden in the whole, we're going to waive your student loans.
[00:18:55] He keeps getting shot down. He keeps failing. He's treading water. It was never going to go anywhere. You need a more viable solution. A more viable solution is to help put more money in people's pockets to where it doesn't matter about the loans that are out there. You can help pay them down. That benefits everybody. The simplicity of what I'm describing is silly. It's like, this is not hard to understand. She went to law school. She understands the game. The reason she's chafing against it is because it makes her look like a hypocrite. If she does, if she openly criticizes what the Biden administration did, it makes her look like a hypocrite. And that's what she's concerned about. And I understand. But the bottom line is still the same. You cannot just continue doing what you did and expect to win this election when you got the Trump administration, all of them, including his kids out there, promoting, actively promoting, actively accepting cryptocurrency at an era. And now he's on tick tock doing it. So now he's reaching the youngest, he's reaching the people most likely to resonate with his message, and he's going to energize those voters to get out and vote for him. And those people are not saddled with the baggage of some of these people that are so worried about him grabbing them by the whatever. So I ranted for the first year because I thought it was important. I keep hearing, well, you know, Donald Trump, or common is do to do. And everybody's missing a simple, they're missing a simple. Common is not a head. She's an underdog. She will be an underdog until she embraces the failures of this past administration, which she's part of. And as part of that acknowledgement, she says, this is what we need to do to get back on track. I understand your pocketbooks are hurting. I understand it's costing you more money. None of what Donald Trump said in terms of the cost of goods and services was false. I understand we got a problem. We need to fix it. I understand we tried to go all ev. Clearly, we're not yet ready. We need to do more work to get ready. I understand you're. You're dealing with hard times right now. My job is to fix it. And I can do a better job than what Trump's talking about. That's the message that she should have gone in with, that. She did not. And since she did not, now we're in the spin. So I will continue promoting that message as very important. Meanwhile, until we get a resolution on this, there's a couple of notes I want to talk about. I actually am going to be talking to specific crypto news. But that first part was very important because if you don't solve that, none of what I talk about really matters, does it? We've got to solve that first. I didn't say anything about the person. The people don't matter. They don't matter. It is you and how it affects you and your pocket. If they can't get their act together, it affects you downstream. It's not about the person. It's not about whether you like them. It's not about whether cool, not about what they say in private company.
[00:21:45] None of it matters. Their gender don't matter. None of it matters. It's how. What have you done for me? What are you going to do for me? It's all about you and what they can do for you. The only thing Kamala can do for you, she refuses to do. Why are you okay with that? Donald Trump is offering to do something for you that might be transformative. Then you can hold his feet to the fire to see if he performs. At least he has a chance to try. Kamala doesn't even want to try. And you have to ask yourself why that's acceptable.
[00:22:23] All right. I promised cryptocurrency chatter. I did. Thank you for sticking this long. I understand. And hopefully you understand why I went on the rant. I did. It is something I don't like doing, but I'm seeing too much chatter that people are not getting it. I felt it was important. I used at least what limit I do have on my platform to try to emphasize the importance of what we're dealing with here. But meanwhile, let's chat about some cryptocurrency news in general. Let's start with our usuals, talking about the numbers. And we're going to start with Ethereum. Although there's some changes in what's happening with Ethereum. Ethereum is still in a depressed state, close to 50% down, by the way, and I want to emphasize why I think Ethereum is going to be Ethereum and all the other tokens on that chain are going to be. If there's ever going to be an opportunity for profit in the near term, I'm talking 2024 as remainder. I believe it's going to be Ethereum and any of the tokens on that one because it's now the only one that's not gotten back to its all time high. It's still having a lot of outflows and a lot of pressure. Downward pressure. That's bizarre. It's bizarre to me because bitcoin, it's right now about 59,000. I'll come back to that. Ethereum should easily be in the 3000 range, minimum. There's no reason for it to be in the 26, you know, over the past 24 hours. 26 27,000, 2500, excuse me, 2625 hundred range. There's no logical reason for this to be occurring.
[00:23:56] There's nothing specifically causing it other than general outflows and general cell pressure. But the reason for the cell pressure is why it's bizarre as well as the level that it dropped. Getting this low doesn't make sense to me personally, and because it doesn't make sense, it tells me that it has the. It's like a rubber band. It has the strongest probability of bouncing back huge and surpassing its all time high. So I remain generally strong on ethereum sometime in the span of 2024, having a good recovery. Although we have to really fully explain and understand why Ethereum is being suppressed, clearly suppressed more than all the other cryptocurrencies. Bitcoin, as I said, 59,000 60,000 hovering around bitcoins not being generally suppressed. But bitcoin sell pressure is more, I'll say expected. It's within more of a expected range because bitcoin went up to $70,000, went down as we had a bunch of sells. Some of that sell off is still happening, but it was a gradual decline and then it went down as far as like $50,000, but it rebounded nicely, which did not happen on the Ethereum side. That's what I mean when I say the Ethereum seems less logical as to why it's not having the same rebound, then I might expect that bitcoin had especially because we know that ethereum and bitcoin do have pairings. It's possible, I speculate it's possible that some of the pairings that are occurring on the Ethereum side are going away on the various exchanges, and this is contributing to some of it, but I don't think so. Feels like it's just straight sell pressure across the board in various outlets. That's going, that's temporary. It's not going to happen all the way through to 2025. I could get that completely wrong. I don't know for sure.
[00:25:42] Germany recently took $28 million rating unlicensed cryptocurrency ATM's. This was carried out just a couple days ago.
[00:25:55] Now, with cryptocurrency ATM's, it's kind of a gray area in the United States. Cryptocurrency ATM's. You probably have seen them in various gas stations. They are a licensed form of transacting, but they have a lot of restrictions. They have a lot of limitations. The one thing that they don't have is a control over how much they can charge you. They don't have any sort of limit over the fees that they can charge you for transacting. And as a result, many of those cryptocurrency ATM's are a blatant ripoff. They take way more than I think makes sense to the point. I would never advocate that you use one of said ATM's because they just take significant amounts of your wealth, but because of the way that it's been a little bit of a wall wall west, a lot of these countries have locked down the concept of cryptocurrency ATM's until they can kind of get a handle on what they want them to be so that it's become a black market. They're still out there because it's a black market. Some of them are bucking the trend. They're just putting it out there. And this raid is because they were not supposed to be out there. And a lot of cryptocurrency was seized as part of the raid, which could trigger more of a sell off. And remember, it's Germany who had done a major dump just recently.
[00:27:07] Why I brought this one up, particular, two points. One, it's possible that there's more dumping on the open market because it's Germany, and that's what they do. Two, I think it highlights the problem with cryptocurrency ATM's in general, and the fact that they put them out there simply because there was no law saying they couldn't well, then a law gets passed saying you can't, and you still have them going out there.
[00:27:30] And that's because there needs to be clear regulatory framework around what they're doing to embrace it, to stop them from going underground with it, and stop these types of seizures that suppress the market, that cause various governments across the world to think that we need to lock it down. Like you're doing it backwards. You're doing it in a way that says, we don't like this because of why ever. So we're going to try to restrict it, and then it goes underground, and then the underground puts them out there, and then the government comes in and says, you know what? You weren't supposed to do this. You broke the law. And we're just going to take all this and then sell it on the open market, which causes a bunch of dump, which then causes them to say, see, told us crypto people losing money do, do. Hopefully you're clear about how contradictory it is, but I believe it's intentional. I believe it's. They're basically beating it. They're beating it to death. They don't, they don't want to thrive.
[00:28:23] Why don't they want to thrive? They don't want to thrive because they understand, just like the United States understands, that to allow it to thrive allows independent wealth, it allows generational independent wealth to come back, which we lost. We lost it largely in about the sixties or the seventies. So doing something like this, it helps suppress it and helps at least delay it and stem the tide. Whether they're buying time for them to put it in the banks, I can't say. I will say the only logical answer is that they don't want people to have independent generational wealth again.
[00:28:57] Speaking of ethereum, again, there's another l two coming out. I wish there wasn't, but there's another l two coming out. It's called corn seed funded. The reason I'm talking about Corn is because it had an intriguing gimmick to it that I'll dig a little bit deeper and perhaps I do an out of cycle on it. But allegedly they're going to be using a tokenized version of bitcoin as gas for this. So when I saw that they're using a tokenized version of bitcoin, tokenized versions of bitcoin exists on pretty much all of the other l two s, so it's not anything new.
[00:29:31] But trying to align bitcoin's value to what the chain's doing now that created a little bit of a unique proposition and I want to dig a little bit deeper. Quote by aligning network participants through the power of super yield farming, ensuring foundational token utility, and putting bitcoin in the driver's seat, corn is definitely not just another vanilla chain launch.
[00:29:56] I don't like the whole super yield farming, obviously, because that's, you know, like curve and others. I don't like that they seem to get hacked all kinds of crazy. They seem to never work out well, and then the government always attacks it. So I wish we stopped doing that separately.
[00:30:13] Attaching to bitcoin the bitcoin token BTCN is our hybrid tokenized bitcoin, backed one to one by native bitcoin and not bound to a single centralized custodian or bridging solution. Instead, BTCN extends its minting rights to multiple trusted custodians, smart contracts and or bridging protocols.
[00:30:35] So I don't like the concept of the trusted custodians, although I understand why they have to do that. I don't like the bridging protocols because bridges seem to get breached left to right Sunday. So I don't like the framework of what they're talking about. It's simply the using of bitcoin as an asset class on a different chain to benefit from its value intrigues me.
[00:31:01] Obviously you have liquidity pairs that are pairing to liquidity across the centralized exchanges, and that's somewhat close, but it's not the same as using as a form of gas because that's different. I don't think that's ever been done on the, at least on the Ethereum side.
[00:31:18] I don't know who the target audience is or something like this, though. I don't know if the target audience is simply, it feels like it's just a me too in like curve dow. I don't know if that's what the intent was. I wish something more unique came out of it, because again, the connect to bitcoin catches my, catches my eye. But I feel like there should be more to it than just yield farming. All everybody's doing that. What are you doing different? You know, I don't know what that answer is, frankly. Because if you peg to bitcoin, let's just theorize, let's just spitball out here. If you peg to bitcoin, it means you can somewhat control its value to a degree.
[00:32:01] If you allow minting, it contradicts the spirit of what bitcoin is doing. If you don't allow minting, it means your value. You don't have any control over it, because it's then subject to the whims of bitcoin, which may be a good or bad thing. So my point is, I like the idea, but I'm not sure why you would want to do it now and why, you know, in the way that you implement it, what benefit you think it's going to have and who's the target of something like this. I struggle that. So if I were to put something out that's tying to bitcoin in any way, I wouldn't do a yield farming anything at all. I think that's stupid.
[00:32:43] Instead, what I might consider doing, and this sounds crazy, so bear with me, I might consider doing something that takes actual bitcoin from the bitcoin network itself, takes actual bitcoin, exchanges bitcoin for something else that's on chain l two, and then takes the actual underlying bitcoin and does something with it, whether the something is an investment in something else, maybe, you know, create some sort of an asset backed store of bitcoin somewhere for which it powers the liquidity for whatever's on chain. And I don't know the mechanics of how that might work. I'm just saying some way that's not farming or whatever, it's using the actual asset class as opposed to a gimmick over top of it. I don't know. I. I'm intrigued by the potential. That's why I say I'll probably do an out of cycle later. Once I dig a little bit deeper into it. I thought I'd bring it to attention, because seems like that people have acknowledged now that bitcoin, no matter what, bitcoin is going to be the value source for a lot of these, and you can't ignore it anymore. It's not going to go away. And so you kind of have to play the game, is what it is.
[00:33:58] Speaking then, a bitcoin dropped significant amounts of money. So did Solana as well. And it seems like no matter what it gets back, it's going to lose it again. I'm still watching to see if bitcoin goes down beneath 50,000. I don't think it will, but I'm still watching to see if it does. A lot of these are now liquidations. We're now clearing out people who had held position and felt it was going to go positive, and then that didn't happen. A lot of them are being cleared out. They're being liquidated completely and losing their assets. And so then if you're in, as I said, DCA feels like the most solid strategy you can do right now. I'm going to be doing a separate episode out of cycle that may help in the DCA cause you might heard DCA in places, and I'm going to do a separate, I don't know when, probably tomorrow, maybe around DCA to try to help some folks understand who are newer about what DCA really is. It's actually very simple, it makes common sense. But the trick is you have to switch your mind away from instant profit. If you can't do that, you're still or large numbers. If you can't switch your mind off of that mantra, DCA won't make sense to you. DCA only makes sense when you're thinking about it from a long term, and it only makes sense when you're thinking about it in terms of I don't need the money now, I'm investing for the future. You probably already do it. Your chances are do it on the stock side or have done it. So once you understand what it is, you just have to apply that to a world where you're not trying to be a millionaire overnight in cryptocurrency. And that's hard for people because they've been conditioned by the shillers out there. So first is to unplug you from the matrix. Once you unplug from the matrix, you'll understand some of these strategies of how to sustain your value and hold your position and increase your position during these tumultuous times. And hopefully that helps you get past what we're dealing with and just buy time because some of these are going to run and it's going to be a significant run. And the more you can stack now prior to the run, the better off you're going to be, because once it runs, you're going to smile and look back and hopefully come back to me and give my credit.
