Show Notes
#Crypto #Cryptocurrency #BasicCryptonomics #Bitcoin
Website: https://www.CryptoTalkRadio.net
Facebook: @ThisIsCTR
Discord: @CryptoTalkRadio
View Full Transcript
Episode Transcript
[00:00:01] Speaker A: 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.
[00:00:13] Speaker B: Thank you for that, Bailey, and welcome everybody out there in Crypto Talk radio [email protected] dot back to the gypsy that I was. My name is Leister. I'm your host. Welcome or welcome back. Crypto Talk Radio. Found it. Crypto Talk FM. Ain't that cool? Crypto Talk FM is an active, functioning address. If you've bookmarked Crypto Talk radio.net, continue to bookmark cryptotalkradio.net. It will continue to work because I own both domains, but CryptoTalk FM is the new domain. You will hear me talk about Crypto Talk FM, and I'm proud of this takes you to the same site. We're ignoring our past episodes, and I am hopeful that you're enjoying our auto cycle updates. The auto cycle updates published to the YouTube, they publish to Facebook, they publish to all the different platforms, but they also come to the podcast, and I think they're pretty cool. And that replaced the second, so in this case, the Thursday episode of the show because I wanted to get certain information out in kind of bite sized chunks. What I noticed is that there's still an audience out there that wants to listen to content but simply may not be podcast people, which is fine, and I want it. That's why the website lets you play our episodes directly on the site if you want to do that. And I figured let's increase our distribution. I've done that for casual, which is our sister podcast. I've done that for combat. So, like, for example, combat has out of cycle. It's had out of cycle update all of the time. Casual never has. I did a couple of smatterings, but not to the degree that I'm doing for crypto.
So the personal update is just that. It is. Hopefully you're enjoying the auto cycle update cadence and the delivery and the messages. I've done a couple. I'm actually going to do another one, probably tomorrow. I'm going to talk about the subject matter here on today's episode. I didn't want to wait on it. It's too hilarious. But I am going to follow up on it a little bit tomorrow because a little more things came as a result of this, and I figured it was important that I at least talk about those things, kind of get them on deck. Now here's my summary of what I'm going to be chatting. Obviously, we're getting very close to tax season, so hopefully you're not ducking your taxes. I know some of you duck your taxes. I know how it goes, and I wouldn't want to have people avoid taxes. That's the last thing I want from you guys. Now, obviously some people may be in different locations where you don't owe taxes. If you're in a different country where you don't have income taxes, you're kind of safe. I'm not even talking just state, I'm also talking federal. And if you're in the United States, you will owe federal taxes. And I think it's important that you take care of your federal tax bill and don't duck that smoke. Anyway, with taxes, it's an interesting topic and I don't want to give too much advice, so please don't take what I'm saying as overt advice that I'm trying to tell you what to do with your money. I'm simply going to give some tips, tricks, things to think about with your tax burden. Hopefully with the profits that you took.
Hopefully you didn't sit on them. But it's up to you if you did. If you're a gambler, you're safe. But anyhow, let's go ahead and get into our topics. Let's start with the numbers and kind of go from there. See what we got.
Coindesk.com we're going to start with ethereum today because something happened that I noticed and it was part of why I wanted to talk about it and why I didn't want to do an out of cycle. I figured I'd wait for the normal episode so I could go ahead and get the news out. Or the theory shouldn't say news theory to you earlier, but also as part of an omnibus because there's a couple of different things to tie. So Ethereum, zoom out to the month chart. Ethereum took a dip, it was way high. And then it took a dip more red than green started trending downward after an upward run. And the upward run simply didn't sustain is what really happened. So this run, I saw it, saw it firsthand when I was working my endeavor. I saw everything was going back in the green and I figured, okay, we were headed back up to about 3500 mark. We made it, but it went right back down. So a low of $3,200, high of $3,500. Right now it's hovering just about the $3,300 mark with a strong downward trend. We've lost significant momentum and a lot of people are not as confident, at least on the Ethereum side as they were before. Now if I looked at the bitcoin and I again zoom out to the mont chart, it had the same downward pressure, but not as severe. A low of 64 six ish, a high of 69 nine ish, hovering about the 65 six ish mark as I record this. So it's about its point, but didn't go beneath that bottom threshold like Ethereum did. Bitcoin seemed to hold up a little bit stronger than the Ethereum. Now with Ethereum, there's a couple of things that I saw that might have played into what I'm seeing. Number one, some of the big players like the Grayscales and the Black Rocks and everything came out and made some comments that alluded to the idea that there was not a lot of interest in the Ethereum ETF's that were chatted about and not the same buy pressure going around for the Ethereum side. On a past episode I talked about the fact that bitcoin seemed to benefit the vast majority of this run. Ethereum got nowhere close to its all time high. It ran, but it didn't go anywhere near as high as people might have thought it should have and currently headed downward. And it's at a point that's lower than people expected that it should be. Given the run ups that we saw. Bitcoin suffered a little bit, but not as much as ethereum did. And bitcoin still has the bitcoin ETF's that are adding kind of a base setting, a foundation that keeps it from going too far down. However, consider that there are some people waiting for discounts. There's some people that knew that the downward was going to happen, myself included, and so they're waiting for discounts. So for all fair disclosure, I did take profits off of I didn't sell all of it, but I took some profits off of my bitcoin ETF's because I was way up. So I took a little chunk out, used that to buy a new mattress, you know, just small. It wasn't a crazy amount of money because I figured I wanted to keep a bag of it at the current level because I didn't expect it was going to go anywhere near my buy in price, which was dollar 35. So given my confidence in it, I figured I would leave some in. And I suspect a lot of people are doing the same thing, but you got people who are taking profits like they should. I took all the, not all, but the vast majority of profits off of all my cryptocurrencies and I had transferred them out. I did that earlier this year. That ties to the tax conversation here later. But I took all my profits, the vast majority of profits. I no longer hold bone. I know it's going to shock some people, but I no longer hold bone. Here's, there's a very good reason why I don't hold bone. I don't hold bone because I expected it to go down. Because I expected it to go down. I was looking for a better buy in point to have a better position of bone to buy back in at some point later. Yes. But I also lost confidence in the team. I felt like they are not doing what they need to do to make bone succeed. It feels like they're just pissing people off for whyever that reason is happening. I don't know. But I was very disappointed to see that the team does not appear to be investing significant amounts of energy into the success of boom. So if you take boom right now, as I record this and look at the month chart, is trending down and beneath the, which surprised me because, you know, this is up to like a dollar 110 has gone back down its lowest, like seventy one cents. The lowest it ever went, I want to say, is twenty eight cents. And my initial buy in, I want to say, was like sixty cents, fifty cents. So my thought as I was looking at the graph movement, was that there was an opportunity to get into a better price for bone, a better position, and hold more of it. So I did sell out all the bone and it was in profit. All it was in profit because my position was again, averaged in around sixty cents. I just kept buying and buying and buying and DCA ing to get a steady position. And then now I'm waiting for it to bottom out. And I can't know for sure if the vast majority of what I see is because of the same things I'm seeing. The failures of the team, or just people buying into other garbage, like a bonk or dog with hat or something. Like they're shifting money, you know, robbing Peter pay Paul. I don't know. I suspect it's a combination. I suspect that it's everything. It's people just look at it and they're like, why can't you guys get this crap right? For whatever reason, you keep screwing it up and we're kind of done with it, which is kind of disappointing because they had announced that they're going to be doing burns and everything else. And none of this seems to have helped sustain the pressure. Positive for bone. And so I did sell out for now, and I'll watch it from a distance and see what all comes of this, because I am curious, and I do feel that something's going to happen with this. I just don't know exactly what that something is.
Now, other things to talk about taxes is going to be a big topic of today's episode. When I say taxes, I'm talking about IR's taxes, not crypto taxes. Ir's taxes. Taxes, in my opinion, and it's an opinion is going to hit you when you sell.
If you look at the questions that they ask you, if you go and do your own taxes, and I do recommend people learn how to do their own taxes, by the way. But if you. The questions that they ask you are all around selling. They all, they're all around what's referred to as a capital gain. The idea that you were enriched off of the sell of something that is considered a security or an investment or both. And so since cryptocurrency has been kind of bottled in there, they're looking to see if you profited off cryptocurrency now in 2023. I didn't sell a damn thing because 2023, for me, was still kind of a recovery period, believe it or not. I don't want to tell too much of the specifics, but I think it's important you understand, because somebody else may be in this position that's listening to the show.
2021 was arguably the worst year for me ever, from a financial perspective.
It was the tail. Obviously, it's pandemic, but worse, there were a lot of my endeavors that I was talking to, and they locked down the funding that would normally pay somebody like myself, because most of my clients were hospitals. When the pandemic hits, they get, they need beds, is referred to beds, and that's expense and everything else. But there was other, some hospitals were spending on stupid stuff. So it's not just that. I'm saying that the vast majority of what I was experiencing had to do with them locking down the type of money that normally would pay for my services. It's a certain fund.
So I had two clients at the time, one client in California, one client in Texas, the client in Texas. So I had just signed them March of 2021, and everything was cool. It was great money. It was fast, because that would have been double what I was getting paid. I mean, it's cool. Two weeks later, they tell me, you know, they got to crunch it down because of this pandemic and everything, because that's when it started to get really hot and heavy with people being admitted to the hospital. Okay, well, I still got my first endeavor. The first endeavor didn't pay my normal rate. I took a little bit of a slice cut because I was trying to help them out. But that endeavor started doing stupid stuff. So I'm a contractor, I work for myself. I work my own business, CTR Group. I own my own business. I have multiple brands. I've got the radio show. I've got the three podcasts. So I got crypto, I got casual. I've got combat, plus the radio, plus the video service that I'm still working on. Triad I'm still working on. And then I've got my actual consulting. Consulting that I do. My endeavor, all underneath this umbrella. And I make a pretty good deal of money. But I have the right to say no. Like, it's like you're not going to put me under. I'm like a plumber, right? I'm a contractor. I work for myself. I come in, you have a problem. I tell you, this is what you're going to pay me to fix your problem. You pay the bill, I go fix your problem, and we're done. That's usually how my world works in my endeavor. The first one, this is the California one, started basically because this was around the time of the George Floyd and everything else that was going around the news. So a lot of companies, not just this one, but a lot of companies, started introducing this concept of unconscious bias crap and all these other things. Let me just disclaim up front, I happen to be a black american. So when you hear me ridicule this nonsense, it's not because of any other agenda than the fact that it's stupid, because the idea of unconscious bias is stupid. Everybody has bias, okay? And the bias is conscious. It's not unconscious. There's no such thing. I'll say it as. As unconscious bias. Your bias is conscious. The difference is whether you've accepted that bias as the truth. Here's an example. If I told you right now, okay, cryptocurrency is a scam. That's a bias. I have a bias like Peter Shifty Schiff. There's a bias with that statement against cryptocurrency, but it's what they believe. It's what you believe, okay? That's not an unconscious bias. If I told you that credit is a scam, I worked at the credit bureau, so I know what credit does. I know it's a scam. It's designed to trap you taking out loans. Loans are designed to trap you. How do I know that? Because not only because I worked at the credit bureau, I also worked at lending institutions. I know that the whole point of loans and lending is to lock you in, to take money from you because you're paying interest. I know that the whole 0% interest, no money down 90 days, same as cash crap, are all scams. How do I know that? Because I've worked solutions for auto and lending, so I understand what it means you're going to pay on the back end. I know that the student loans, federal student loans mostly, are all scams. How do I know that? Because I worked in the business. I worked in the industry for the federal student loan for years. I understand what it's doing. What it's doing is taking your taxpayer money and it's trying to force more people into schools because at the time, it made sense to have more people in college. But I understand, because I worked in my endeavor for colleges, for solutions, that the college, the whole college system education is a scam. How do I know that? Because the college education, you know, is steering you towards what, STEM degrees. I actually own a STEM degree. My STEM degree only cost me $3,000 the most. Okay, but it's in the high demand. Why did it only cost me $3,000? Because you don't have to have federal student loans to get a good education. But employers, this is where it comes. 360 employers. Set you, in your mind, the narrative that you have to go to a certain type of school, it has to be a certain type of degree, and if it's not what they want, then they're going to bias against you, which I know is the truth. So I worked my way up. I was in the workforce busting my ass long before I had a college degree. College degree came way later, after I didn't really need it. It was just a check a box type of thing. I didn't need it. I worked my way up, and it was hard. I started in a call center and I worked my way up. Where am I going with this? The point is, the whole system, everything, all of everything I just described, and to wit, the IR's, they're all interconnected in the impacts on you when you're trying to determine how cryptocurrency now is going to affect you. Most people getting into cryptocurrency are doing so because they're not able to get wealth other ways. The very wealthy people who are playing cryptocurrency the vast majority of them don't sell. They buy, they sit on. Take El Salvador. Right. They buy it. They sit on it. They don't sell it. Right. But your layman person, I'm talking the vast majority who trade cryptocurrency, they're not doing sells.
If they are doing sells like they're just day trading on a regular basis. Those are the exception to the rule. Those are the ones that probably can afford the tax bill or they're not even paying it. So when you have this situation of an overpriced housing market, you have an education system that's a scam, and it's steering to do all these sketchy degrees. And if you do the degree you might actually want, that degree is worthless in the workplace because the employers bias against you and then the employers biasing against you makes it harder for you to get jobs. Harder for you to get jobs. Makes it harder if you make money harder if you make money harder for you to get into cryptocurrency. So as I put it all together, I started thinking, what are we really trying to solve with the cryptocurrency? When I say we, I'm talking the community with cryptocurrency and how it applies when we sell by. And the advice that people like myself provide, you'll hear people online say, it's not financial advice. You'll hear that all over the place. Rarely do you hear me say that. You'll hear me say, can't tell what to do with your money, which is more of a factual statement, right? Because I can't tell you what do it. Your money. You're grown, presumably. I can't tell. Do it. Your money. I can give advice.
Finances doesn't have anything to do with it. Money has nothing to do with it. So financial implies money. Cryptocurrency doesn't have any value until and unless you transact it. So if you're sitting on cryptocurrency, the reason I told that, if you're sitting on cryptocurrency because you're nervous about the tax implications, good for you. You should be, because you got to also balance if you're going to sell. It's not just, okay, I see this profit as time to sell now. And we have to define sell, which I'll get to in a second, versus I sit on it for the moment. See, a lot of these people, they sit on it and they, what's called accumulate, they stack more, stack more, stack and never sell out. The IR's wants to know about those transactions, even though they have no value.
You have to decide if you're going to give that information, because it's up to you at the end of the day. My point is, sell to me means I got fiat for that transaction. To me, that's a sell. To me, if I convert ethereum to USD tether, which I wouldn't do, but if I did, that is not a sell, it's a convert. I transferred from one cryptocurrency to another cryptocurrency. The governments might consider stablecoin because of the equivalency to fiat, to be a sell. You got to be very cautious about that very clear delineation between the two when you're making the decision. I'm saying that because I'm telling you, I did sell in 2024, and I sold out to fiat. The reason I waited to 2024, number one, I knew that's when the run would happen. But number two, it meant it bought me a year. If I had sold in 2023, when we started running a little bit, I might have had some problems. Remember, bitcoin was down to like, $12,000. So if I had sold, we got up to like, $47,000 or whatever by the end of 2023, if I had sold there, not only would I not have gotten as much profit, I'd gotten nailed on the tax burden, because it's taxes, capital gains. So I chose to wait to buy some time, and then at some point, I'm gonna have a tax bill I have to now balance with my endeavor, because I make a lot of money there, and I just had to set up for the. I file the taxes, and I understand what the tax bill is. Well, that would have been a nightmare with how much I would have owed if I had done it all at the same time. So I spread it out. That's the point. I spread it out because I know they're coming after these different points. As you make more, they're gonna come after it. And I don't want any smoke from the IR's. So my advice to you, if you're ducking taxes right now, I suggest you don't do that. It's up to you. But I suggest you don't rather create a plan for managing taxation.
Manage your taxes. Manage it by understanding when it makes sense to truly sell. And you have to decide what you're going to report when, according to your definition of selling. If you treat anything going to a stable as a cell, you need to report it. There's forms and it literally asks for the name of the asset. It asks for the amount of it, it asks for the price you paid and the price. Like, it's pretty methodical. So if you use one of the coin tracker tools out there to document that journey, it'll correlate all the stuff through the wallets and all that. But again, the downside is it treats cashing out to a stable coin as an actual sell. So if you bought, you know, let's say at $12,000 for bitcoin and then sold when it hit 40 something thousand and you had put 10,000 in there, it's going to treat that as a pretty significant sell, even if you never sent it to fiat. So you might not ever benefited from it. Okay, that's going to impact other things because if you file that and they say, okay, you got a bill of, let's say, $20,000 or something that's going to cut into whatever plans you had might cut into your money or something else. And then you got to think about contingency. What happens if you lose your job? What happens if somebody gets sick? What happens if somebody gets injured? What happens if your rent increases? There's also the contingency things you got to watch out for as well in balancing what's going on with the tax system. Because again, and this is a little bit of advice for you, I don't want to smoke from the IR's. The IR's will work with you as long as you don't stop talking to them, and as long as you're actively communicating with them, and as long as you're responding to them, and as long as you're interacting and not trying to duck it like Wesley Snipes, they'll work with you. You know, I know you hear horror stories about the IR's and them going after people. The IR's goes after people who don't who duck that smoke. That's who they go after. As long as you confront it, you talk to, and I know this because I've done multiple situations over years with the IR's and I've never had any major issue. I made so much money this last period, it's possible they might audit just because I made a lot of money. It's just because you made a lot of money. When you hit over threshold, they start asking questions. But long as you got your paperwork, which goes to make sure you keep your stuff, which goes to the value of a computer, you probably don't have a problem. You know, if you want to go to an H and R block or whatever and have them file your taxes for you, that's fine. The reason I said I recommend you learn how to do it yourself is so you know what to look for. You know what they're going to ask you, you know what to prepare, you know what documentation to keep so you're ready to go in case some questions come down. And most of the times the question is simply going to be around and they would come up when it's an unreasonable filing. So, like, in my case, could they audit because my money increased? It's over the threshold that they start looking? It's possible. Do I think they will? No, because I made significant amounts of money in 2022. Since I made significant amount of money, I did make more in 2023, but the vast majority of the overage came because of a different set of work. And there's documentation for it. There's literally documents that were filed to them, whereas the amount that normally I receive from my endeavors was about the same. It didn't increase a lot from their perspective, because the, the rates were worked in a way that mitigated it, but it still essentially doubled. So they, it's going to flag of, hey, it's doubled, but they're going to see that there's documentation already there. I covered my ass on it, and I don't have a lot of deductions. You know, I don't have a lot of things that would look like cheating. You know, I didn't make a lot of claims of things. And there's worksheets. I have paper trails because I know what it is. That's how reporting crypto is going to be the same thing. If and when you get into doing that, as long as you cover your ass, you're good. You need to make sure you keep documentation about stuff and be thinking about it as actual assets. Think about it as investments, because if other people tell you, oh, duck the tax authority, that's on you. But if you want to do it right, paper trail, document everything, learn to embrace computers, because that's how you're going to be able to retain all your documentation. Obviously, you can scan docs on your phone or whatever, but then what happens when that device goes kaput? So you drop it in the toilet, which I still don't understand that's happening. So then you're like, oh, I'll scan to icloud, and that'll sound good until your identity gets stolen. Listen to me, I'm telling a larger story around it. I'm talking about, we're near tax season. If these are things that you should be thinking about, because there are some people who probably have a tax obligation because they cashed out in 2023. If you're one of those and you're going to proactively do it because you think it's the right thing to do, I'm imploring you to make sure, as part of this journey, learn how to do your own taxes. It's not that hard. Really isn't. You can get software you can buy from Amazon.com. You can download to your computer. They have the Apple, they have the pc. It guides you through it. It asks you the questions. It's not that hard, but you can see it. You'll see it firsthand and see what they're looking for, see how it does the calculation. File electronically once and done. You can even file the state if you're in a state that requires tax filing. See, that was the cool thing about the timing of my move because the residence I'm in, I wasn't a resident of the place I'm in until effectively 2024. So the tax filing. There is no tax filing because Nevada doesn't have a state income tax. So that's. That was my legal residence was 2023. That was Nevada. So that's the, that's the cool thing, again, goes to understanding and planning and. And this took time, you know, this took years to master the art of spreading things out and timing things properly and planning things correctly and understanding logistically where I am at any point in time to know when to do certain transactions so that it would not affect me come tax time. I was still shell shocked when I saw the bill for 2023 because I thought it was one thing, because I had done one filing. Then I realized, oh, I got that other thing. And then it added and essentially doubled my tax bill. But that was my fault because I didn't catch this other situation and it falls on me. And then I set up a payment plan. It's fine, but I don't like to do that because it means I need to have that guy paid off in a year. Now, I can pay it off right now. I've got the money. I just spread it out because, you know.
But I'm saying I plan it. I prepare and I anticipate what's going to hit me come tax time, including cryptocurrency. But not just cryptocurrency. It's everything. It's everything from where I sit, where I live, what I was doing who I was talking with at any given time, any transactions I was doing of a financial nature. Also, to include cryptocurrency transactions that are documented within 2023 for me, was none. Now, when 2025 rolls around and I file 2020 four's taxes, I'm going to get nailed on the crypto side. But I've already made moves on the endeavor side to kind of mitigate it and soften that blow to where my tax bill should be a fraction of what it is for 2023. So I just shared my story because I want to get your gears turning around as we get closer to tax season, about thinking about how you should be approaching your tax situation. And notice I didn't give you any specifics other than learn to embrace the computer. I would recommend you learn how to file your own taxes, not rely on somebody else, if only to understand what's going to be asked, because it's only going to get worse before it gets better. When we get around to cryptocurrency tax reporting, the other thing I'll talk about on next week's full episode, I'm going to get back into some of the economy based conversations that I was doing. So I'll be doing some economy based reads and giving my thoughts on those. I didn't want to do it here because I wanted to make sure I at least briefly talked about the tax situation, what I thought it meant. But be aware, we've got a long way to go before we're out of this rut that we're in. And that's gonna be my close is talking about the rut. Starting with some of these alts. There was a major amounts of liquidations, millions million dollars of liquidations that happened. Cardano got a hit. Bnb got ahead, Solana got a hit. A lot of the alt tokens took a hit. Bitcoin cash had some bitcoin cash. Almost act like a pump and dump, to be frankly honest. It was pretty bad across. And so I had, you know, bought some stuff where I was doing some chart work, and then I sold it out to Solana because the other people were not playing ball. So it's like, if you're not going to take my money to help make this project succeed, because we're talking a project that it had a market cap of like $20,000 with my investment, my investment was easily half of it. And, you know, I can shift the price, but it's like, I need you guys to run this right, and if you got it to $100,000, I can take mine out and then you can run with it and I've saved it. But it turned out that the developer wasn't doing anything. He wasn't doing any advertisement, he wasn't talking about on twitter, he wasn't doing Jack Noodle, nothing. Well, I wanted to help it because I felt like the contract was clean. It was a clean project and I couldn't do it. I even did my own advertisement run, couldn't do it, couldn't help it. So I watched it die. And I think this whole situation played a part in it just demise the Solana, because Solana's price started going down as well. So it's possible that just overall sentiment started shifting to the negative right around the time that I was getting into some of these other tokens to try to help them out. I can't say for sure, but that's what I noticed. Because bone again, going down as far as like $0.71 was shocking to me because it was up to like a dollar or something, losing almost half of its gains over a short period of time.
I'm still going to watch it, I am going to buy into it. But I suspect there's more to this than what I noticed. The other piece which I'll talk about is cytochain, the token. Citochain the token. 90% of the supply has been burned, so the supply is at all time low, but so is the volume numbers. So you'll notice on Coinmarketcap that everything looks wrong. It swears that the max supply is 200 billion.
The max supply of 200 billion is reported based on amount that's been minted. So what coin market cap is implying. Don't come at me. This is coin market cap, not me. What coin market cap is implying is that 100 billion tokens have not yet been minted. But what really is happening is you got a set of tokens that are on Ethereum and a set of tokens on the BNB chain. And of course, since they essentially rug pulled the pancake swap, that means that the vast majority of that hundred billion is locked into CiDa swap or Cytopro or whatever. So what I'm saying is, is that the supply that's reported on core market cap source of max supply is both chains, the Ethereum and BNB. And we don't know what that's going to look like when it turns the whatever blockchain on. But the total supply is reported is shy of the 10 billion mark remaining. And then of course, if 90% is burned, that would be correct in what I saw. So all tokens should be in circulation, at least on the ethereum chain. Specifically, I can't tell for the binance chain because of their garbage, but theorem, far as I can tell, all tokens should be in circulation, but the volumes at an all time low volume at $200,000 is significantly low. You know, Saitama before and then the initial stages side of chain, they were up there in like the million minimum of a 24 hours volume. So jumping down to like $200,000 in volume is a significant drop. Remember, this is on a number of exchanges, so being on exchanges now, that drop could be correlated to them essentially rug pulling pancake swap, I can't say for sure. Meanwhile, all the other tokens across the board are down. So don't think that it's exclusive or singular to any one token. Seems like it's just a universal drop in sentiment expected to pass at some point in the near future. Stay tuned and I will do, like I say, an out of cycle update to dig a little bit more into what I saw about the garbage known as cytochain, just because I think it's important to do that. I'm also going to try to do a follow up. I got a comment on the YouTube side about Apollo Crypto Dao because they were asking questions. I thought they did a good job of communicating, but apparently there are people still confused. So I'm going to do the best I can to just do a follow up on that one with whatever information I can find, and I'll publish that as an out of cycle update as well, probably on, I don't know, Thursday or some odd. So for now, please, please, please do not yolo or Fomo in the garbage. It's up to you. You're a gambler, it's your money. But I like to keep people safe. And with these kinds of dips, these kind of liquidations, it's a risky business out there and there's a strong probability people gonna get their money took, and I don't want to see that happen to anybody listening to my show because I want to keep you guys safe as best I can. That's assuming that you want to be kept safe if you're a gambler. I do support it, but I like to keep people safe. I think there's better cryptos out there in the long term.
