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Spotlight: $XYO (ETH)
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Episode Transcript
[00:00:01] Welcome to Crypto Talk Radio, the podcast for everyday investors like you. Visit us on the [email protected] and now here's your host, Leister.
[00:00:13] Thank you for that, Bailey, and welcome, everybody out there in Cryptotalk radio, [email protected]. are you hearing me now? Are you listening now? Is it becoming clear now? Are you still considering me tinfoil? Are you still considering me a nutcase? Are you still considering me a conspiracy theorist? Or are you listening to your Uncle Leister at CryptoTalk FM when Leister told you multiple times it seems like it's rather convenient.
[00:00:42] All of these events that crash cryptocurrency during the point that cryptocurrency runs seem to be perfectly timed to significant run ups or the precursor to significant run ups. And it seems as though the significant events only really pop up when cryptocurrency is running. And I said, maybe it's just a coincidence, but I'm not a big fan of random coincidences that keep happening. I like to think that maybe there's something to this here business because it seems to keep happening when there's a pattern of said failures. It's too much to consider as just random happenstance. As a result, I look at it and say I'm not too sold that this is just a random something. We're going to talk about the event that happened because I suspect that the event that happened, especially the aftermath, to quote Dr. Dre of said event, seems to correlate to what I suspect to be the truth. And we're going to dig into that a little bit more. I'll do a personal update. I know you're chomping at the bit to hear what I got to say because you might not know what's going on because you don't follow the news. Kudos to you, but we'll get there, I promise. Personal side, separate update, nothing fancy. We're in December now. Winter's here, but we had our snows. It's starting to warm up again a little bit now. We're going to get cold again. I've got an electrician supposed to come. I think it's two days from now. He's going to relocate one of the outlets. That's the most dangerous outlet I've got in the darn thing because it's wired like a, you know, Tim the Tool Man Taylor just slapped it together, you know, so I gotta move it, then I gotta move the other outlet and decouple the in sync erator and if you don't know the Insinkerator. The Insinkerator is that magical device that's in your sink. That confused AOC and she put up a video online where she was confused about this device at her sink. The incinerator, for those who are like aoc, basically takes food waste and turns it into slurry. It chops it up real fast, turns it into slurry so that it can be shuffled down the drain. I don't like it because then it goes into the sewers and makes a problem. I'd rather compost food waste. So I'm going to be getting rid of the incinerator. So I have to get rid of the power that's a hard power instead of a plug in. So that's another problem. So I want to get rid of that, rewire the kitchen, get it back up to some sanity, and then put in a patio door. And you're like, you don't have a patio door? No, they. Out here, they don't believe in patio doors. Nobody does. But I guarantee you, by the time my set is done, I'm going to have the finest house on the block, period. That's what I'm striving for, because I'm going to read to the back, redo the front, and everything's going to be amazing. And then I promise I'm going to be putting photos up on our site, CryptoTalk FM, under a blog section that you don't currently see. But I'm going to start doing that because I think it's good to share my journey now. So let's talk about the chaos and insanity that's happening on the cryptocurrency side and see what we can make of some of the stupid. And see if you still call me tinfoil. See if you still call me a conspiracy theorist or perhaps Leister knows something and he just is able to tell the truth and tell the future like you can't.
[00:04:01] Coindesk.com and we're going to zoom out to the month chart and we are going to specifically start. I'm going to shock you a little bit. We're going to start with bnb, the Binance coin. Because the Binance coin went on one of the most amazing jump runs I've seen in the short order. We're not talking about Bitcoin today. We will, but not right now. We're not talking about Ethereum because it's a disappointment, but the Binance coin has been everything but a disappointment on the 24 hours. So if you zoom to the month on a 24 hours, a low of $624, a high of $747. Right now at 740, just shy of 745, on a strong upward trend. This is an amazing. Listen, the Binance token, if I recall when we had that major crash, this is the FTX level crash.
[00:04:54] I want to say this thing went down. What did it go down? It was less than three figures, if I recall correctly. It was less than three figures. I'm going to be verifying that as I talk. But Binance was nothing when we had that major crash. And then Binance has been the one that's been able to recover strongly ever since. Because if you didn't know, Binance has a lot of mechanics built in it that helps it insulate from the inflation more than other tokens. It does what Doge should do. And Doge has had a run, but nowhere near what we see with BNB. And then BNB, remember, only has 107 billion in its market cap. So there's a couple, there's a couple different things that all play in. First, it's just traffic on the chain. The traffic on the chain started to spike up. Other alts like XRP started to spike up. Salana spiked ever slightly. None of them came close to what BNB did in this short period of time. So In January of 2021, just to put it in perspective, January of 2021 you could get BNB for $40. In 2019 it was only just shy of 20 bucks. Then we have the run ups where it goes to six. When we had the FTX crap out, it went down to like the 200 some odd mark, just close to like the 100 some odd mark. And then here we are. So you heard the numbers. I just said 200 some odd mark. Close to 100 some odd mark, 190ish. Now we're at 740.
[00:06:22] Rap it. Okay, now if you've listened to your Uncle Leister for a while, if you're new, welcome. But if you listen for a while, you heard him tell you the core coins can't steer you wrong. All of them. And I said get into various of them because what's happening is money is shifting in different places and you're going to see run ups in certain ones and dips in other ones, but all of them are up. But some of them are up more than the rest. And if you bought in at that point, you're benefiting, you're making out Like a bandit. Even though bitcoin, now that's where we're going to go. Bitcoin wasn't able to retain and get to that $100,000 mark that we hoped that it should. It doesn't mean that it won't. It means that in the short term we were not able to get to the $100,000 that we expected. Bitcoin a low of 93, just shy of 94,000. A high of 96,000. Hovering about the 96,000 mark. As I record this, people expected to go to $100,000. The event I'm going to be talking about here shortly negated the ability for this to run to the $100,000 mark, which pissed a lot of people off. It didn't piss me off because I expected that to pissed me off is Ethereum failing to run A low of 3500. A high of just shy of 367. Hovering around the 3600 mark. As I record this Ethereum man, folks should be well into the five figures by now. There's no excuse for Ethereum to be sitting at the $3,600 mark. And there's so many coins tokens that are spinning up or linked or paired or somehow running lockstep with Ethereum that are being stymied by what's happening here.
[00:07:59] But yet some of the other garbage Vol coins ran back up. Regardless of what's happening with Ethereum, my point is, if you imagine where Ethereum should be right now, that should give you a picture what the price of those Vol coins really could be if Ethereum were at the price that it really should be. And that's why I was frustrated about it. I wasn't frustrated about Binance. I knew that it was going to run up again. I didn't expect it to breach the 700 mark this soon. I'm impressed. That tells me if I'm looking at the trend line, finance should easily hit the four figures. Now, of course, that's not a lot of money unless you were holding from the point that it was like 20 bucks or 30 bucks, but it's still significant profit opportunities. And if it's. If you're talking about tokens that are on those chains, you can benefit from buying into those as well. If you're looking at certain Binance tokens and there's not many of them left, there are some spinning up, but nowhere near like we used to see. Most of them are going to Solana or Ethereum. A couple on Avax here and There a couple on Tron here and there. We don't see a lot on the Binance chain. Hopefully that changes now that they're seeing that Binance runs up for those that were in the Thorium ecosystem that used to have Libero or some other token that was around that ecosystem and you were holding on to one of the tokens that they didn't kill off and crap out, you're seeing some positive trends. You're seeing positive trends in their banks. You're seeing positive trends and all the stuff and they're the ones left standing. Tatano's crapped out. Ouroboros is crap. All the other ones are crapped out. All the others that were from that era crapped out. Thorium's still there. They largely abandoned most of it, but it's still there. It still pays for as long as it's sustainable. So they're one of the mainstays left there. If you think Id finance that guy screwed the pooch, dumped off the business, that one's dead. So many of the tokens that were on the Binance smart chain that if they had just, and I called that way back like a year and a half ago, I said we're going to see a lot of these just straight die and disappear. And that's what happened where if they have been able to hold the line and stay firm and stay strong, they'd be benefiting from these runs now. And unfortunately we're dealing with marks in the crypto space. And that's what the net effect of this is is Marx marks that killed the business. Now let's talk about the big news. The elephant in the room, that's South Korea briefly, and I stressed the word briefly, declaring quote, emergency martial law. This happened a few hours ago. I think it was sometime in our time in the United States. It was sometime in the morning time, early morning, where this guy Yoon Suk Yul declares emergency martial law. Now this causes a saw a strong negative crypto sentiment coming from South Korea. It was bought up by other countries. The point is we saw some dips across the board as a result of this announcement. And the announcement came out of nowhere and I speculated many years ago and have done since that every time we see these major things like these announcements or the Gary Gensers or whatever from governments or declarations of wars and all these, the timing seems to correlate very perfectly to major run ups of cryptocurrency such that I speculated that they're doing it to suppress the success of cryptocurrency they're just doing it and saying, no, it's really. Cut this over here.
[00:11:11] I wanted to summarize a couple of these things.
[00:11:15] With bitcoin, the dip was significant. If we didn't have as many people holding the line on bitcoin, it could have gone as low back down to the $60,000 mark. That's how bad this one is. This significant dump out that happened as a result of this brief, and I stress the word brief drop for this emergency martial law situation. I'm telling you, there were actually people that had sold because of their level. They had sold and it would have been the equivalent of $60,000 and it would have caused a major drop to the degree that we saw, like with ftx. And I was actually cheering, hoping that would happen, but it didn't fully happen.
[00:11:56] Here's the summary of what happened and why it was so brief is I, I still speculate tinfoil that he did it for to kill crypto's momentum. Regardless, he talked about on the video, and I don't speak the language, but he talked about on the video.
[00:12:12] He was, it was like a rant. He was basically talking nonsense about the Democratic Party and alliances with North Korea and Pyongyang in North Korea and all this crap. I'm like, dude, and you declare martial law for that. So even if that is true, and I don't know that it is, but that's why, that's why you're doing it. And then he was. Then he starts going into like, this is tinfoil that allegedly he was accusing people of being sympathetic to North Korea. So in other words, he made it sound like we've got insiders that are sympathetic with North Korea where they're going to try to take us over and do all this other stuff. And I'm like, I don't understand frankly, how we get to this point where leaders like this are able to just arbitrarily do that. Now, in this case, he was shot down. So a meeting's called, right? And they're doing this conversation. They're saying, what the hell are you doing here, bro? What, what are you doing? What's wrong with you? And later, lawmakers hold a vote and they shoot it down so that it's not going to happen. And then this guy goes up and he was, he revokes, he rescinds it, pulls it back. Well, if it really was that serious of a situation, why did you basically get down on your knees and bow down to the masters if it was really such A serious situation. And if it was obvious, why would the lawmakers not side with you? That's why I said, I don't. I. It feels like. It didn't feel like there was any sort of strength or backing behind what this dude did. He just did it because he felt like doing it. Right at the time Cryptocurrency is going on a run to the point I speculated that he had to be doing it to kill cryptocurrency, because there's no other logical reason why he would do that.
[00:13:54] And was everything that he believed or was told just a bunch of fake news? Right. It was lies that he was told, and they just ran with it. He got no evidence. He got no pre. Because, again, nobody was on this guy's side. Nobody believed him. Nobody said, what the hell is the matter with you? This is why I always question when you heard before Donald Trump. So you heard this narrative that South Korea is good and North Korea is bad. And then Some people on YouTube are critical of people who say, well, Russia, Russia, Russia, North Korea, whatever, whatever. Nobody's suggesting that the North Korea lifestyle is not brutal to certain segments. We know it is. We know what that is. However, we have to look at what South Korea just did and why they just did it and their motivations and reasons. And what's Rocket man up there doing? He basically is minding his own business, saying, if you f. With me, I'm going to blow you out the water knowing that we. He really can't. And stay away from our stuff. This is our stuff. He's. That's what. That's what they're doing. They're basically saying, stay away from our stuff. They ally with Russia. They don't really have any power. Right? So, okay, they ally with Russia. Russia Putin just came out and said, you know, basically with Trump, I'm willing to listen. I support peace. He just bowed down. He bowed the knee because he's afraid of Donald Trump, Biden. He had no respect for him. Biden was doing nothing other than angering Russia left and right by handing weapons to Ukraine about the sentence to World War Three.
[00:15:21] This is. This is the narrative, though. Nobody was afraid of North Korea by themselves. Nobody is concerned with North Korea lying with Russia. But you get South Korea doing a declaration of martial law that kills the economy and has no real backing for what he did. Well, why are you doing that kind of stuff? And is that the kind of person that's really an ally? Because did he talk about that with the United States now? Maybe he talked to Biden to Biden forgot and fell asleep. I don't know that I'm saying that none of this made any sense. And that ultimately killed the business temporarily. It didn't kill the business permanently. And that's the important takeaway. It's not that it completely killed the business. Everything's fine. XRP in particular, XRP is like 10x from where it was because the expectation is that Gary Gins is going to be out of here and that everything's back down and that now the SEC is going to get better leadership and we're going to support cryptocurrency. The lawsuit is going to be dropped and everything's going to be sunshine and hunky dory. We don't know that it will, but that's the expectation. So I'm not suggesting that it's doom and gloom. It's certainly not. And everything feels like it's on a better track. I'm suggesting we should be a lot more critical about the people that we call allies, and we need to get them back in line. And Donald Trump may very well do that, because if we don't have international stability, we're not going to be able to get cryptocurrency where it belongs. And that's where we want it to be. But it's again, still disrupted by these international forces that don't know what the f they're doing.
[00:16:44] So in the short term, the best thing you can do, the core coins can't steer you wrong. Your gambling want to roll the dice? I can't tell a douche. Cash. I am saying the core coins can't steer you wrong. That will always be my stance and I'll support it and I stand by it. I think it's a solid thing. I think it's a good thing. I think it's a great thing overall. Big picture, in my personal opinion.
[00:17:07] Speaking of Gary Gensler, Donald Trump, apparently he has made his selection for the replacement of Gary Gensler, who's announced he's likely going to be leaving January 20, which is a pattern for those SEC chiefs to leave when a new president comes in. And so Donald Trump has chosen apparently Paul Atkins to come in and clean it all up. Now, Donald Trump, he is pro cryptocurrency, as he said, although he I like the dollar. He says he's pro cryptocurrency. He wants cryptocurrency to succeed because if we don't do it, China's going to do it. That's his motivation. He doesn't want China to be able to take this. So he wants Paul Atkins to come in. Paul Atkins is on record saying he's not really sure he wants to go full throttle, feed in there trying to breach what Gary Gensler did and that he is confident that he can handle it. Because Atkins comes from the business world, the finance world, and on the finance world, he somewhat benefits from some of these decisions. And his concern is that if he does too much, it may damage his outside business concerns. So in order for Atkins to take over, he's going to have to decouple some of that stuff simply because of conflict of interest, as well as the concern that some of the decisions that he would make might damage his business. So that's an open thing. It didn't hurt crypto. I'm calling it out because it's good to know that the person that's coming in is coming from that world where his business is make or break as a result of any decisions that he makes. Which means he has skin in the game. See, Gary Gensler didn't really have skin in the game. He could just attack it all over the yin yang and say the law, says this is a law and didn't really care. Somebody coming in that has skin in the game where his business could make or break by the decisions that he makes and he can see the big picture of it, that might actually be a positive thing for all of us. I can't suggest that he is going to do it. I'm saying that this is what he's talking about. We don't even know he's going to accept the position. We expect that he will, but we don't know that he will. He's still kind of wavering, saying, well, I don't know with my business, and that's an open question mark that we need to solve. We still are going to get somebody better than Gary Gensler. So no matter what, I think the SEC will be in a better spot in the big picture of everything going on. So keep your eye out for what's going to happen with this business. And I think. I think we have to see the next levels for Bitcoin. We have to see the next levels for all these Alts and the Vol coins, because I think we're en route to some more positive trend in Q1 for sure.
[00:19:28] I want to wrap up today's episode talking about. I don't want to call it an underdog because that's probably not fair, but I'm going to be talking about a project and I know you're like, wow, you haven't talked about a project in a while. You're correct. And the reason I haven't is because all of them look like crap. This one doesn't look like crap. It, I think it's a little bit over baked, you know, a little overthought, a little over technical, doesn't out, doesn't appeal outside the bubble. But I do think that there's something here that's worth talking about. And so that's, I wanted to kind of dig into it. Anybody that's heard about Block Dag, which I refuse to do a swag on Block Dag that rhymes has talked about doing a lot of the things that are here. However, this one, it seems to be actively doing it. So I want to do a little digging on what I know about it. And if anybody's in the ecosystem that knows a little bit more, hit us up CryptoTalk FM, hit the comments form and let us know. Because I'm curious to know data that I would not know because I'm not going to tell a scam, I'm not going deep in it. And their white paper, although very detailed, I don't think it appeals outside the bubble. I'll be speaking about that here in a second. But I think that there's just too much overkill in the data. So this is called Xyo the XY Oracle Network, which is a proof of origin based cryptographic location network founded in January 2018.
[00:20:45] In summary of what this is trying to the problem that this is trying to solve, they're trying to create trustless location networks behind trustless location networks. They suspect that they could eliminate the need for centralized entities that control the flow of information. Right? So if you think about nodes, the very concept of a node, a node has to control the flow of information. And because they have to control the flow of information, there's a little bit of privacy, but not maximum privacy, not maximum control of that information. We also have to understand the validity of information as it transacts through whatever blockchain and validity of information has been in question. Now we know that validators contribute to some of this, but that again goes to the whole node and that goes to centralization. And that's the problem that this purports to try to solve is to get away from the need for these types of, you know, intermediaries getting in the way of letting the contract do its job.
[00:21:44] When we take things like location at a high level, we have to think, well, right now we don't have what's called an Oracle. And I don't want to get too far in the technical deeds, but we have an Oracle and we need the Oracle to be trustless, decentralized. We need the Oracle kind of be that standalone entity that we don't need to worry about it taking control or being overly centralized or anything else that we could just simply deploy it, set it, forget it, and we don't have to worry about what's going on with this business.
[00:22:19] Take something like the mapping, your Google Maps, Apple Maps, right?
[00:22:24] With these mapping technologies, they partnered at Time ago with Garmin and TomTom and they created a satellite network and a satellite network connects. And this technology was there prior to it coming to you. It was used by law enforcement, it was used by the government. And then eventually it became mainstream for the things such as, you know, navigation results or mapping results or something else. And that's gps, Global Positioning System. So this is understanding pinpoint, largely accurate where something is location, where something is in something. We know GPS is accuracy and it depends on the device. It also depends on whether to some degree it depends on a lot of factors. But we know its accuracy, we know we can largely trust it with some deviation. There was actually a, an accident that happened and I believe it was, I don't know if it was India or somewhere else, but there's an accident where they were driving in fog and they were using Google Maps and they were just driving along whistling at 60 miles an hour. And then all of a sudden they go off a bridge and it turns out the bridge was out. They hadn't finished construction, they didn't put a barricade on the thing and GPS hadn't updated it because GPS can't know that. You'd have to report from whatever infrastructure management up to these providers and then they have to dis. Deploy that to the different software and then the software has to make it available to your tool. That's a very slow burn process. That's why you see if roads are changed or roads are out or some construction has happened, you don't get those immediate updates. So as long as things aren't changing, right, it's a largely accurate process. That's the point. But there's always points of failure with data that it doesn't know. Those points of failure in the digital world can also be represented by way of things like jamming. So jamming the signal for gps because it can be jammed spoofing, where something can be presented different than the real data to fake out and to lie to you cyber attacks where data can be, data can access your device, your mobile device and then be used to breach something on it, other forms of interference. And we know that some of these breaches are increasing in severity and so part of the problem is that in blockchain you have a very similar risk. And we see those in terms of these breaches that happen on the D app sides, on some of the Oracle sides, some of the coins, we see that all over the place and it's the same concept. And so the idea was if we know that all of these different connected nodes are they all create a point of failure, they all create some sort of a risk and we need to be able to minimize how many that we need in order to do the same work and we need to be able to solve how data gets relayed from point A to point B and we need to assure the confidence of the data that when it gets to the outcome. So again I'm not going to bore you with the technical details. I do recommend you check out its sites xyo.network and check out the white paper. It's a pretty involved read though. So if you're an add person who doesn't like to read or non technical it'll be a little bit overwhelming. But it's, it goes into a lot of details that talks about what that's doing where it's, it's kind of using some of these variations of themes that we saw. You know, like World Coin tried to do some of these later but what XYO is trying to do it was already talked about back in 2018 and now they're just now getting to the point of increasing traction. So definitely check them out because I'm intrigued by the potential of what it could achieve if it pulls off what they say they're going to do. Because if they pull off what they say they're going to do it would be the reality that World Coin is currently just pump and dump, you know, fake out on where it talks about doing it, where this one looks like it actually would do it. And I'm very, I don't want to say excited, I'm just very fascinated by what's talked about here and I recommend you take a look at it xyo.network see what you think about it. There is a token currently it's on the Ethereum chain and the Salana chain and I'm not going to sell, I'm not going to sell you on the price movement long term I will tell you that it had a breakout Very recently. It's been around for a long time, kind of hovering beneath the penny mark. It had a pump at a point and that was only on $100 million of volume. The market cap right now is just shy of 500 million, just to put it in perspective. Pumped up to about 6 cents, went back down, stayed steady state, and now it's starting to run up again. So I can't tell you what's going on with the price movement long term, but I suspect again, if they can pull off what they're talking about, you could have something that's a. One of those killer apps that could result in a price run. Especially when they started getting on Solana because pairing to Solana, if they can use Solana's price movement because Solana is running up crazy. Plus what's happening, what should happen with Ethereum, you might end up with something that's going to be at least in the range certainly of like the. I don't even know what the max price on this thing is potentially to do. It's got a 13 billion supply, so it doesn't even have a lot of supply like you think. This should certainly be able to hit a dollar, right? And so if it hits a dollar, that's, that's not chump change at all. And because we're only at $0.03 right now, so I think there's potential there. But again, it all depends on whether they can pull it off. What I learned from Coin market Caps community is there was a guy, I think his name is Scott, and he was one of the original developers. He's, his name's on the white paper, so he's one of the original developers. He had left the team in 2019. So after he wrote this up, he left the team. Then it starts running up again. He started sending out messages about a week ago where he was talking about Tesla and apparently there was some sort of partnership with Tesla and Solar X and something else that he was working on. And people were like, well, wait a minute, if you left the team, how is this all happening and how are you doing it? And apparently he took on what XYO started to do and he's running with it, no pun intended. And he did some partnership with Tesla. I don't know if any of this is legit. I'm sharing. The messaging that caused the recent pump is allegedly there's some sort of partnership with Tesla that's connected to this technology, that's talking about the GPS and location. All these issues that I just described where it could result in some killer application that maybe. So it's. We're at the by the rumor stage. That's what's causing the pump is a by the rumor based on what this gentleman saying. And I'm imploring you to take a look at it, check it out and see if it's something that seems like it makes sense and whether it looks legit or not. Gamble responsibly, though, because I have no idea if it's. If it's truly legit. I'm sharing the message because from my lens, I didn't see anything that was a great concern per se. I didn't see anything that would cause me to say, absolutely, stay the heck away from like cider chain. It wasn't that bad.
[00:29:16] Nothing extreme. It just it's. And it's been around a while, so I would assume that it was going to completely rug pull. It would have done already, maybe.
[00:29:26] And the fact that it got on Solana added some credibility to me where I wanted to keep an eye on this guy. In the big picture, a lot of bots are doing traffic right now, so be careful. Again, gamble responsibly. I did a contract basic scan. I didn't see anything risky on the contract, but there's a lot of bot traffic. So just gamble responsibly. If you do buy in, make sure it's throwaway money, because I can't tell you what's going to happen with this business.
[00:29:51] As I wrap up here, I am interested, big picture, in cryptocurrency and where it's going to go. What's going to happen here in Q1. I'm really interested in Q1 and I'm excited to get to Q1 and see what's going to happen. And hopefully Ethereum gets to start running. Because if Ethereum starts running, I think a lot of people are going to make a lot of money because there's a lot of Ethereum tokens that have been just sitting there waiting for their turn. Now that salon has kind of died off a little bit. And those are in the XRP that were the holdouts, man, they're making out like bandits. And I'm celebrating them winning. Light Bandits. We always want to see people make some money finally, after so long of being suppressed. And here's your time, this is your time. Just again, stay careful, right? Make sure there's a roof on the head, food on the table, because that's what's important.
