[00:00:01] Speaker A: 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] Speaker B: Thank you for that, Bailey. And welcome everybody out there on Crypto Talk radio.
[email protected] mentions of war, nuclear weapons and all sorts of chaotic stuff in between.
[00:00:24] Speaker C: Spins around cryptocurrency and causes some depression.
[00:00:27] Speaker B: In the market for which multiple YouTubers have told you that. It's a strong bullish sentiment. It's a matter of time before we go back up. Course, Leister. CryptoTalk FM has persistently said I remain kind of cautious because I don't see.
[00:00:42] Speaker C: Everything going up and only bitcoin, which.
[00:00:44] Speaker B: Would indicate some sort of artificial inflated pricing. And so now we'll talk about bitcoin's price. But suffice to say that once again.
[00:00:54] Speaker C: You need to come back, give my.
[00:00:55] Speaker B: Credit because I did warn that I didn't see what some of these other ones were telling you was happening of.
[00:01:01] Speaker C: This strong run up.
[00:01:02] Speaker B: And you know, they, I mean, jeez, you, you watch them, right? They draw on charts and they draw a bunch of lines and they do line to top to bottom and I'll talk about that. Maybe I'll do that as a 101 at the tail end of days episode because it's an otherwise short episode. Maybe that's what I'll do. I'll talk about that whole chaos because I don't understand what that's business I do, but it's just so sketchy and, and whatever.
[00:01:27] Speaker C: Separately I've got a couple of news.
[00:01:29] Speaker B: Bits I want to talk about really around what's going on generally speaking. And then it's possible we may have.
[00:01:36] Speaker C: A guest on the show.
[00:01:37] Speaker B: They did sign a release form but we need to have a pre call and work out some particulars and they asked about Telescam for calls. That makes me a little bit not want to do it, but if they back down off that one and they act like a real business, we might be able to do it.
[00:01:53] Speaker C: It's an interesting guest.
[00:01:54] Speaker B: It's somebody that is fairly well known and so I'm, I would like to speak to the person and ask some of the hard hit questions but we need to make sure we're acting like a business. So we're working out those particulars. I'll keep you apprised if that does happen.
[00:02:06] Speaker C: It won't be for a little bit.
[00:02:07] Speaker B: Of a while, but we're looking on deck to try to get that going and we're kind of excited to about the prospect of that one.
[00:02:14] Speaker C: Let's go ahead and jump right in.
[00:02:15] Speaker B: We're going to talk about some of these bits and then again, I'll probably talk about this 101, about the whole charts and price movement and everything that.
[00:02:21] Speaker C: These YouTubers are misleading you about.
[00:02:30] Speaker B: CoinDesk.com and I'm going to zoom out.
[00:02:32] Speaker C: To the month chart.
[00:02:33] Speaker B: Of course, I know that you're looking at the chart for both the 24 hour and the month.
[00:02:37] Speaker C: Not really impressed with what you see.
[00:02:39] Speaker B: Because it contradicts something that certain YouTubers have told you was going to be.
[00:02:44] Speaker C: The case, which was some amazing run up to some levels not yet seen in 2025.
[00:02:49] Speaker B: And unfortunately that's not what I see.
[00:02:52] Speaker C: Over the past 24 hours, a low.
[00:02:54] Speaker B: Just shy of 104 grand, a high of just shy of 108 grand, currently at the 105 grand mark, with a.
[00:03:00] Speaker C: Strong downward trend happening largely around some.
[00:03:04] Speaker B: Of these wartime things that we'll mention.
[00:03:05] Speaker C: A little bit later.
[00:03:07] Speaker B: Over the month you saw a steep drop, very steep drop with a trend downward. People suspect that it's possible bitcoin is going to breach the hundred thousand mark and head further downward.
[00:03:19] Speaker C: And I said I want bitcoin to go down. I also said that I felt like.
[00:03:25] Speaker B: Some of the pricing we were seeing.
[00:03:26] Speaker C: On bitcoin was artificially inflated.
[00:03:29] Speaker B: People have asked, they've literally asked, well, why do you keep saying that?
[00:03:32] Speaker C: Where are you getting it from? One need not look any further than.
[00:03:36] Speaker B: Ethereum, whose price over the last 24 hours, a low of just shy of 2500. A high of 2600, currently at the 2500 mark, took a dip, but nowhere near. I mean, I run to 1 to 2% dip. Nowhere near the level of catastrophic fall that bitcoin has experienced recently.
[00:03:57] Speaker C: Folks, you've heard, if you listen for.
[00:04:00] Speaker B: A while and if you haven't and.
[00:04:01] Speaker C: You'Re new, welcome by the way.
[00:04:02] Speaker B: But those that have listened for a while heard me repeatedly say Ethereum to.
[00:04:07] Speaker C: Me is the indication for true price.
[00:04:10] Speaker B: Movement at any given point in time, not Bitcoin.
[00:04:14] Speaker C: Bitcoin's price is being artificially inflated.
[00:04:18] Speaker B: Some of that is around the ETFs.
[00:04:19] Speaker C: Some of that is through institutional cash grabs. Some of that is just people being greedy.
[00:04:24] Speaker B: If people are sitting on bitcoin and.
[00:04:26] Speaker C: They know like the micro strategies of.
[00:04:28] Speaker B: The world want to buy it, they're going to sell it at artificially inflated prices.
[00:04:32] Speaker C: Because the real world price of bitcoin.
[00:04:35] Speaker B: I Suspect it was not anywhere near as high as it is because Ethereum hadn't run up.
[00:04:41] Speaker C: If you don't know the way that it normally works, you will have money that flows from Bitcoin and heads in.
[00:04:47] Speaker B: The direction of Ethereum and the other alts.
[00:04:49] Speaker C: Ethereum has not gotten anywhere close to its all time high of 4800 bucks.
[00:04:55] Speaker B: Despite the fact that if we were.
[00:04:56] Speaker C: Going strictly off Bitcoin's prices, we should expect to see Ethereum somewhere in the five figures.
[00:05:01] Speaker B: And and we have not done.
I'm going to continue saying and at.
[00:05:05] Speaker C: My challenge to you, this is truly a call to action.
[00:05:09] Speaker B: My challenge to you is to hold
[email protected] accountable.
[00:05:15] Speaker C: Listen to what he's telling you. Measure it against the YouTubers out there who are telling you that we're headed to 200 grand.
[00:05:22] Speaker B: I'm not suggesting that we won't get there.
[00:05:25] Speaker C: I'm saying that they've been telling you that we're headed to 200 grand for months now and we've not even smelled.
[00:05:31] Speaker B: 150 grand, much less 200 grand.
[00:05:33] Speaker C: So I want you to compare what Lester's saying against what the YouTubers are saying. When you realize that the YouTubers are.
[00:05:41] Speaker B: Feeding you a bunch of smoke, then you have to understand why that's happening. When people constantly tell you that something is going to happen, it creates a.
[00:05:50] Speaker C: Sentiment in your mind that that must be the case. And so you fomo by expecting it.
[00:05:55] Speaker B: To happen, you it's not necessarily a.
[00:05:57] Speaker C: Bad decision to buy.
In fact, I think these are discounted prices for a long strategy.
[00:06:04] Speaker B: But if you're expecting to make 200 grand off bitcoin anywhere in the next quarter, I've got a bridge to sell you.
[00:06:10] Speaker C: I want you to hold leister at CryptoTalk FM and what he just said to you against the YouTubers so you can see who's right and who's wrong. When you see that Leister was telling you the truth, that you come back.
[00:06:22] Speaker B: And give my credit and also spread the word and tell your friends they.
[00:06:27] Speaker C: Need to stop listening to those grifters.
[00:06:29] Speaker B: Who are telling you price movement.
[00:06:31] Speaker C: That doesn't make any damn sense.
[00:06:32] Speaker B: And meanwhile Leister's over here, a conservative voice amidst a crowd of a bunch of yellers and screamers, telling you that something is going to be the case when it doesn't make any sense.
I'm going to talk about the whole chart stuff at the tail end of the episode, but it ties into what I just said.
[00:06:48] Speaker C: Meanwhile, I want you to hold me.
[00:06:51] Speaker B: Ethereum's price is the only indicator that.
[00:06:54] Speaker C: You should pay attention to to help you understand what's truly going on in the market.
Does not mean you should not buy Bitcoin. Does not mean you should not buy Avalanche. Does not mean you should not buy Solana. Does not mean you should not have a diverse portfolio.
[00:07:11] Speaker B: I'm saying that when you want to understand when we truly are at a.
[00:07:14] Speaker C: Bull run, quote unquote, you should really look at the price of Ethereum because the price of Ethereum is the measure. As long as Ethereum keeps wavering between 2,200 bucks and 3,000 bucks, we're not.
[00:07:27] Speaker B: At a bull run.
[00:07:28] Speaker C: Until Ethereum goes on the strong run that you saw in late 2020 and.
[00:07:33] Speaker B: Early 2021 and mid-2021, we're nowhere close to a bull run, regardless of what Bitcoin is doing.
[00:07:40] Speaker C: Once again, because some people won't listen.
[00:07:42] Speaker B: This is not to tell you not.
[00:07:44] Speaker C: To buy into the other coins. You should have a diverse portfolio. You should have multiple of these things. I'm simply referring to when is it that we're at a bull run.
[00:07:54] Speaker B: It is going to be predicated on the rise of Ethereum because most of.
[00:07:59] Speaker C: That money flows towards Ethereum. It's inevitable. It's happened multiple times.
[00:08:02] Speaker B: You can go to the chart, zoom.
[00:08:04] Speaker C: Out over years and you'll see Ethereum has hit these peaks and valleys.
[00:08:08] Speaker B: Ethereum has not hit the the point.
[00:08:10] Speaker C: That it's running up again, which means.
[00:08:12] Speaker B: We'Re not at that level yet and Bitcoin's price is just artificially inflated. That's what Leister is saying.
[00:08:19] Speaker C: Hold me to it. I challenge you to do it.
[00:08:21] Speaker B: I want the smoke straight.
Let's talk some news bits.
Let's get away from price and talk news bits. Back in October 2024, the people known as the Satama scam syndicate, allegedly led.
[00:08:36] Speaker C: By the cult leader Russell Armand. We would learn later that Russell Armand.
[00:08:40] Speaker B: Was basically a mark.
[00:08:41] Speaker C: He basically a fall guy.
[00:08:43] Speaker B: He was not the big wig. The real big wig is the person.
[00:08:47] Speaker C: Known affectionately as Manny the Hitman, AKA.
[00:08:50] Speaker B: Manny the Rug Puller man, Preet Singh.
[00:08:53] Speaker C: Kohli and likely to a lesser degree, Nam Tran, who allegedly is still on.
[00:08:58] Speaker B: The run in Vietnam because Vietnam does.
[00:09:01] Speaker C: Not have an extradition treaty for the United States. So Nam has not been seen since.
Theory is that Nam might be behind.
[00:09:08] Speaker B: This resurrection crap that was spun off of Cyto chain that's already dumped, as I warned people, by the way, that it was going to happen, that it was going to crap out. I told you it was going to happen. And listen, Everton B105 on YouTube said we're going to take a victory lap.
[00:09:24] Speaker C: At my expense as of March.
[00:09:25] Speaker B: And if the blockchain was going to change the world, Mr. Everton B.
[00:09:29] Speaker C: Used.
[00:09:29] Speaker B: Dude, I'm calling you out. Regardless.
I talked about the Saitama Scam Syndicate.
[00:09:35] Speaker C: One of these organizations that assisted the scammers in getting away with what they.
[00:09:40] Speaker B: Were doing was Got Bit. Got Bit is a market maker featured.
[00:09:44] Speaker C: Actually on news outlets. I remember seeing the news. And the guy who was there, his.
[00:09:48] Speaker B: Name'S Alexei, is a big guy ahead of this. And what they do is they contract with these different organizations to basically pump the token. They're just artificially inflating price similar to.
[00:10:00] Speaker C: What you see with bitcoin but on a descend side.
[00:10:03] Speaker B: Well, Alexei Andrew got sentenced to eight.
[00:10:06] Speaker C: Months in prison and one year of.
[00:10:08] Speaker B: Supervised release for his role in the scam. This is related to the Saitama Scam Syndicate.
[00:10:13] Speaker C: Now I found it funny.
Cult leader took a plea deal and I believe he got five years. So they locked that guy up for five years when he didn't really do.
[00:10:23] Speaker B: Much of anything except profit off of your money, by the way. But he didn't really directly do anything.
[00:10:29] Speaker C: Other than artificially inflate price.
[00:10:32] Speaker B: He wasn't the one that was actively triggering a thing.
That was NAM running his shady scripts. That was v Running shady scripts. Got Bit running shady scripts.
[00:10:43] Speaker C: Cult Leader didn't do anything except lie to you. He did lie.
[00:10:46] Speaker B: My point is, how is it that.
[00:10:48] Speaker C: A person who sits up there, puts his hands under a chin and lies.
[00:10:51] Speaker B: To you, gets tossed up for five.
[00:10:53] Speaker C: Years and yet these.
[00:10:54] Speaker B: This jack off. It Got Bit.
[00:10:56] Speaker C: We're talking millions and millions of dollars.
[00:10:59] Speaker B: Worth of fake traffic.
Only gets eight months in prison and.
[00:11:04] Speaker C: One year supervised release.
This shows you. This is all us. This shows you how inequitable the system is.
He was the one somebody asked. I believe it was on YouTube.
[00:11:15] Speaker B: They were.
[00:11:15] Speaker C: They said yes. Somebody was from Portugal.
[00:11:17] Speaker B: Portugueses.
[00:11:19] Speaker C: He's the one that was from Portugal. They were trying to extradite him all this time. They just now got to the point.
[00:11:25] Speaker B: Of getting him extradited so they could.
[00:11:27] Speaker C: Put him up on the deal.
The allegation is that he was orchestrating this between 2018 and 2024 and it's all about wash trading.
[00:11:37] Speaker B: Saitama Scam was one of them.
[00:11:38] Speaker C: Robo Emu is one of them, as.
[00:11:40] Speaker B: Well as various others where you were creating fake trades and inflating the market activity.
Now, this guy Alexei, he took a.
[00:11:49] Speaker C: Plea deal separately where he was sentenced.
[00:11:53] Speaker B: To five years probation.
[00:11:54] Speaker C: He had to forfeit $23 million in.
[00:11:56] Speaker B: A bunch of cryptocurrency that they profited on. So not only were they artificially inflating the price and causing you to fomo, but they were also pocketing profits themselves.
[00:12:06] Speaker C: As the price was going up.
[00:12:07] Speaker B: And they were basically draining liquidity off of you. They were pocketing it. And that was part of why the US Went after them so aggressively, was.
[00:12:16] Speaker C: You'Re doing that stuff, but you're also.
[00:12:18] Speaker B: Being enriched on what's happening. He and I said he was on.
[00:12:23] Speaker C: News where he openly admitted doing it. He straight said, yes, my whole deal.
[00:12:28] Speaker B: Is I got to figure out how to not get detected doing this because I know it's illegal. He's on video. He's literally on video saying this, like, I have to make sure I'm not.
[00:12:36] Speaker C: Getting detected because I know it's illegal.
[00:12:38] Speaker B: And I'm trying to. He said, I'm trying to get out of it because I realized what this means. But it was already too late by the time he was tracked. It was already too late and they were going to go after his a.
So got bit caught up on the lamb, but got a slap on the wrist.
[00:12:55] Speaker C: And chances are, and this is my.
[00:12:57] Speaker B: Guess, chances are the reason that they gave got bit a slap on the wrist is because they want to use got bits, knowledge and technology to detect.
[00:13:08] Speaker C: When that's happening in other situations.
[00:13:10] Speaker B: In other words, it's like a quid pro quo. You know, you pat me on the.
[00:13:14] Speaker C: Back and we'll help you get out of jail free or at a discount.
[00:13:18] Speaker B: But let's get access to your tech, maybe some contacts that you have, maybe people that you're aware of, so we can do a dragnet type of situation to bring that all down. That's what I suspect has happened. I can't say for sure that's what I suspect is happening.
[00:13:32] Speaker C: Senate recently passed in the United States the Genius act.
[00:13:36] Speaker B: And I think it's a terrible bill, but I figured some people might not.
[00:13:39] Speaker C: Understand what's all in the bill and might want to hear some high levels.
[00:13:44] Speaker B: On what's going on with the Genius.
[00:13:45] Speaker C: Act and why institutionals, at minimum, are.
[00:13:48] Speaker B: Excited about it and the prospect for it.
[00:13:51] Speaker C: The Genius act is intended to be for consumer protection. That's the intent. And it's intended to focus on stablecoins.
[00:13:58] Speaker B: They felt that stablecoins were worth focusing.
[00:14:01] Speaker C: On because it's a simple, easy inroad.
[00:14:04] Speaker B: To Some consumer protections, protections around something that's paired with a lot of these different tokens.
Stablecoins are already offered in the United States simply that they're not subject to.
[00:14:15] Speaker C: Very much regulatory oversight, which of course is true.
Bill's a framework, a federal framework to regulate payment stablecoins.
[00:14:23] Speaker B: The keyword is payment stablecoins including robust.
[00:14:27] Speaker C: Reserve requirements to ensure payment stablecoins are.
[00:14:30] Speaker B: Not depegged and transparency into the reserves backing payment stablecoins. Meaning you're not going to see another.
[00:14:37] Speaker C: Luna Classic and all that garbage with the algorithmics. Algorithmics are essentially prohibited under this bill.
[00:14:43] Speaker B: They're still going to happen, but they are going to be subject to regulatory scrutiny and possibly crackdowns because they're not.
[00:14:50] Speaker C: Allowed under the GENIUS Act.
[00:14:52] Speaker B: That doesn't mean that that applies on.
[00:14:53] Speaker C: The international shores and what they want to do.
[00:14:56] Speaker B: But when you have something like USD.
[00:14:57] Speaker C: Tether that was at one point alleged not to have enough reserves to support.
[00:15:02] Speaker B: What they were saying, something like the GENIUS act allows enforcement actions, establishes federal safeguards that protect stablecoin holders and enhance consumer confidence in this market. A hundred percent reserve backing with US dollars and short term treasuries or similarly liquid assets as determined by the primary regulator. Stop.
[00:15:23] Speaker C: So this is the one where I.
[00:15:24] Speaker B: Don'T like this bill because what it's essentially saying is you're not getting, as I told people, and again, if you're new, welcome.
[00:15:32] Speaker C: I told people in a past episode, you're not getting away from the United States dollar.
[00:15:35] Speaker B: They're not going to let you get.
[00:15:36] Speaker C: Away from the inflation.
[00:15:37] Speaker B: That is, they're saying if you're going to do a stable coin that is intended for payments, it has to be.
[00:15:43] Speaker C: Pegged to quote US dollars in short term treasuries or similarly liquid assets as.
[00:15:51] Speaker B: Determined by the primary regulator.
[00:15:53] Speaker C: Two points.
[00:15:54] Speaker B: A liquid assets means you're not going to be able to peg legally your stablecoin to gold.
[00:16:02] Speaker C: I have some gold.
[00:16:03] Speaker B: You're not going to be able to peg that stablecoin to your gold. So PACs and some of those other ones that are pegged to gold are.
[00:16:09] Speaker C: Technically not legal under this bill. Short term Treasury? Short term treasury, like short term T bills and whatnot? Sure.
[00:16:17] Speaker B: That's probably the most logical bet that I would expect them to go because it doesn't make sense to go with.
[00:16:23] Speaker C: The US Dollar given the inflation.
[00:16:25] Speaker B: Because if you were to do that, it doesn't solve the inflation problem. In fact, it exacerbates it. Because what you're saying is that we actually would benefit when the government prints.
[00:16:34] Speaker C: And prints and prints and prints and prints.
[00:16:36] Speaker B: But it's negated by the fact that the price of things goes up, which means those stable coins don't do any good. Like what this is essentially doing is it's creating another outlet for using the stablecoin as a payment conduit as opposed to the way we normally do it on the fiat system. It's not really benefiting stablecoins at all. It's basically just saying it's another way to transmit the equivalent of whatever fiat currency. Which doesn't really benefit us.
It does.
[00:17:03] Speaker C: It does in the big.
[00:17:05] Speaker B: It doesn't.
[00:17:05] Speaker C: In the day to day monthly public disclosure of reserve composition is unsustainable. What it's saying is that if you as a issuer of said stable coin on a monthly basis, you have to.
[00:17:18] Speaker B: Publicly disclose what your reserves are made up of.
[00:17:22] Speaker C: We've gone through this before.
[00:17:24] Speaker B: We went to this ftx. It turned out FTX had stuff like shib and garbage, garbage tokens in its reserve. The bill doesn't disallow that, but it does say reserve backing with US dollars and short term treasuries or liquid as determined by the regulator. So which is it? Let's say that's what I'm saying. It's unsustainable because you have existing issuers and they already have reserves established in.
[00:17:48] Speaker C: Whatever blend of whatever tokens, some of which are algorithmic.
[00:17:53] Speaker B: And as a result you go here.
[00:17:54] Speaker C: And it's saying basically what you declare as a reserve is not sufficient. I guarantee you there's not a single one out there that doesn't have reserves.
[00:18:02] Speaker B: In some algorithmic sketchy crap. So how can you sustain that?
[00:18:06] Speaker C: How can you enforce that?
[00:18:07] Speaker B: I don't see it's enforceable.
[00:18:10] Speaker C: Annual audited financial statements for issues of.
[00:18:12] Speaker B: More than $50 billion in market cap.
[00:18:16] Speaker C: I'm fine with this one. It just basically says if you have.
[00:18:19] Speaker B: A certain amount of money you have to do annual financial statements. Not only annual financial statements, but also audited. Now what I don't like is who declares the guardrails for the audit? Who declares what's going to be covered and reviewed?
[00:18:34] Speaker C: Who declares who has oversight over those audit agencies.
[00:18:38] Speaker B: So there's a lot of open questions and I suspect what they're going to try to do is leave it to the state to oversee that. Well, doing that means you have to create some sort of government oversight agency around that specific activity. So for example, you know, FDIC does some oversight for banks in order to ensure that they're able to provide the 250 grand coverage for a fiat that's in depositories. Well, you'd have to do something similar.
[00:19:01] Speaker C: On the stablecoin issuer.
[00:19:03] Speaker B: Well, how are you going to creating.
[00:19:04] Speaker C: That is an overhead.
[00:19:05] Speaker B: It's to me it's going to slow down the progress of what we're trying to do.
[00:19:10] Speaker C: Prohibits any representation that payment stablecoins are.
[00:19:13] Speaker B: Backed by the full faith and credit of the United States, guaranteed by the.
[00:19:16] Speaker C: United States Government or covered by FDIC insurance insurance. Make it unlawful to mislead consumers about.
[00:19:22] Speaker B: Government backing or the insurance status of stablecoins. This is fine, except what it's explicitly.
[00:19:30] Speaker C: Saying is that you're not going to be insured.
[00:19:32] Speaker B: So despite having regulatory scrutiny, you're not.
[00:19:35] Speaker C: Entitled to any insurance for losses.
[00:19:37] Speaker B: It means if there's a loss, you're basically sol ensures that a payment stablecoin cannot be marketed in a way that a reasonable person would perceive the stablecoin to be legal tender issued by the.
[00:19:49] Speaker C: US or guaranteed or approved by the US Government.
[00:19:52] Speaker B: I think that's fine and fair.
[00:19:54] Speaker C: Makes it illegal to market a digital.
[00:19:56] Speaker B: Asset as a payment stablecoin unless the.
[00:19:59] Speaker C: Digital asset is compliant with the revisions of this act.
[00:20:01] Speaker B: So goes back to what I said. If you have something where the reserves.
[00:20:06] Speaker C: Are a bunch of garbage meme dog tokens, it is not in compliance with this.
[00:20:10] Speaker B: If you got algorithmic, it is not in compliance with this. If you're not going to show your reserves, it is not in compliance with this.
[00:20:16] Speaker C: Like there's only select few.
[00:20:18] Speaker B: This is almost like it's catered around banks to be able for them to do things. And JP Morgan, who already has a chain of their own, they're working with Coinbase on the base network to issue a stable coin.
This seems like it's okay.
[00:20:31] Speaker C: Banks, we're opening the door for you.
[00:20:33] Speaker B: To take advantage of this.
[00:20:34] Speaker C: I think that's smart in the sense.
[00:20:36] Speaker B: Of money transmission and money transferral and money communication.
[00:20:41] Speaker C: However, again, since you're pegging it to.
[00:20:43] Speaker B: The US dollar anyway, you're not solving.
[00:20:45] Speaker C: The underlying issue that crypto was meant to solve.
[00:20:47] Speaker B: So I don't know what the benefit really is other than making the banks a little bit fatter.
[00:20:53] Speaker C: Prevents destabilizing runs through a tailored regulatory.
[00:20:56] Speaker B: Framework including diversification requirements for reserve assets, interest rate risk standards, capital liquidity and risk management requirements.
[00:21:05] Speaker C: Prohibiting riskier reserve assets like corporate debt or equities.
[00:21:10] Speaker B: So here's where they're talking. Like I said, if you already have.
[00:21:13] Speaker C: Issuers and they're doing sketchy Assets, it's already toast, straight up the jump.
[00:21:17] Speaker B: But when it talks like equities and corporate debt, this would seem to point a finger at MicroStrategy because one thing MicroStrategy was doing was it was basically creating corporate debt in order to fund.
[00:21:29] Speaker C: All of its bitcoin purchases.
[00:21:31] Speaker B: Right now it's not paired to a stable coin per se, but how can this.
[00:21:37] Speaker C: Why I say, how can you enforce this?
[00:21:39] Speaker B: Because the, the assets themselves, Bitcoin, say for MicroStrategy, it, in order to transact.
[00:21:47] Speaker C: It, it has to be partnered with a stablecoin.
[00:21:50] Speaker B: How do you, how do you avoid a slippery slope? How do you avoid going too far with something like this?
Ensure state regulators have stablecoin frameworks that are substantially similar to the federal framework.
[00:22:03] Speaker C: Larger state regulated issuers must either be.
[00:22:05] Speaker B: Overseen by primary federal payment stablecoin regulator in addition to their state regulator, seek a waiver to be exempt from federal.
[00:22:12] Speaker C: Oversight, or halt new issuance once they.
[00:22:15] Speaker B: Surpass the $10 billion threshold. Goes to what I said they'd have to create some government bureaucracy in order to oversee all this business. And, and what they're saying is that.
[00:22:22] Speaker C: The state really has no teeth. They're going to have to answer to.
[00:22:25] Speaker B: Some federal oversight with respect to how the thing is managed.
That's fine because it's a one. You know, ideally it should be the same across whatever state. Now here's where it gets kind of sticky.
[00:22:37] Speaker C: Doing it this way basically prohibits the.
[00:22:39] Speaker B: State from protecting its own citizens for what they're locally doing. For example, this is a great abstract example.
[00:22:47] Speaker C: Some states have regulations above and beyond what the feds allow, meaning they will say you cannot transact it at all.
[00:22:54] Speaker B: Well, what if the feds say, well yeah, you can. The feds would normally win out.
[00:22:58] Speaker C: So do you run into this contention situation?
[00:23:00] Speaker B: They're going to need to solve that in insolvency proceedings.
[00:23:04] Speaker C: And if you don't know insolvency.
[00:23:06] Speaker B: Insolvency basically says you don't have enough money to deal with your debt. That's insolvency.
[00:23:11] Speaker C: It doesn't mean you're broken now.
[00:23:13] Speaker B: It means you don't have enough money or you're not going to have enough money to deal with the debts that you have and you're expecting.
This act prioritizes claims of holders of.
[00:23:21] Speaker C: Permitted payment stablecoins over all other creditors in the event a payment stablecoin issue goes bankrupt.
Mandates expedited court review and distribution of.
[00:23:31] Speaker B: Reserves to stablecoin holders. These are the only two good parts about this bill, what it's basically saying is that, let's say that you have some issuer that happens to be a real, a real company, a bank or something else, and let's say that, that whatever becomes insolvent, okay, they're about to.
[00:23:47] Speaker C: File bankruptcy, so they're broke.
[00:23:48] Speaker B: What it's saying is that if due to whatever they did that caused them to go bankrupt, all of a sudden, they've issued these stable coins that are now at risk as a creditor, those holders of the stable coin are entitled to get paid first.
[00:24:04] Speaker C: Now, I still don't know how you.
[00:24:06] Speaker B: Can sustain that because again, if it's a bank, you've got other things that.
[00:24:10] Speaker C: Are going to be first and foremost.
[00:24:11] Speaker B: You got securities they were holding, you.
[00:24:14] Speaker C: Got mortgages they were holding, credit cards they were holding.
[00:24:17] Speaker B: How can you justify prioritizing money to go to stable coins as opposed to all the other assets that are more long standing? Because most of them would have been decades in some cases of maturity. So I don't know how you can enforce that. So my point is, the reason I don't like the bill is that a lot of it feels kind of just hackneyed, tossed out there. A lot of it feels like they're trying to basically attack Trump, frankly, with his USD one. A lot of it feels like they.
[00:24:44] Speaker C: Don'T really know what they're doing and.
[00:24:46] Speaker B: They don't understand that none of this is really enforceable and it's just not going to be. Some of them are just going to ignore it. Especially if it's international shores, they're just going to ignore it. Well, you can't, you know, like say the exchanges. The exchanges are not issuing the stable.
[00:24:59] Speaker C: Coins other than Coinbase.
[00:25:00] Speaker B: So if they're not issuing the stable coins, how can you hold them accountable? And Kraken, how can you then hold them accountable like say, you know, bitmart?
[00:25:09] Speaker C: What are you going to do with.
[00:25:10] Speaker B: Bitmart if they're transacting a stable coin that's out of compliance? Is Bitmart going to kill all those pairs? It would completely destroy the business.
Or they're just going to yank out.
[00:25:19] Speaker C: United States and then you're all screwed.
[00:25:21] Speaker B: I don't know. I'm saying that I'm not a fan of the bill because it feels like.
[00:25:24] Speaker C: It'S ill thought out and they didn't.
[00:25:26] Speaker B: Really put much thought into it to make sure that it's sustainable. I don't think that they did personal opinion, but I. Yeah, I don't know. I don't know.
[00:25:36] Speaker C: So that's the whole genius act is.
[00:25:38] Speaker B: It'S, it's intended to be consumer protection. But I feel like it's the wrong answer and it's not going to really solve the problem and I'm not a.
[00:25:46] Speaker C: Fan of it myself.
[00:25:47] Speaker B: Feel free to check it out and read up on it and familiarize yourself with what they're talking about and see what you think.
[00:25:53] Speaker C: Let us know.
[00:25:54] Speaker B: CryptoTalk FM, hit the comments for them.
[00:25:57] Speaker C: Let's wrap up with our 101 and.
[00:25:59] Speaker B: We'Re talking about these graphs and the YouTubers that just draw a bunch of shit all over the grass, right?
[00:26:06] Speaker C: Here's the thing.
[00:26:08] Speaker B: Anybody that does the graphing, some people don't know what they're doing. But anybody who does do the graphing.
[00:26:14] Speaker C: Anybody that's doing the graphing, they're giving you their impression of what is likely.
[00:26:19] Speaker B: To happen if the situation at a macro level is unchanged.
[00:26:25] Speaker C: When I say a macro level, what do I mean?
[00:26:28] Speaker B: Macro level versus micro level? Okay, if you didn't go to those classes, good for you.
A macro level event is we got a new president. Okay, we started a war, we shut down a war, there was an assassination, there was some sort of weather event that damaged half of a country or something.
These are large scale events where the.
[00:26:54] Speaker C: Event has a downstream impact that then hits you.
[00:26:58] Speaker B: So if we hit some country with.
[00:27:00] Speaker C: Something, any of the aforementioned that I.
[00:27:02] Speaker B: Just broke down, if we hit a country where they have a predominant supply of oil, you now have broken supply.
[00:27:10] Speaker C: Lines of said oil to other countries.
[00:27:12] Speaker B: When you kill the supply lines of.
[00:27:15] Speaker C: Oil to said countries, it impacts the use of that petrol or petroleum for.
[00:27:21] Speaker B: All the different things that happen there and then those are impacted and then.
[00:27:25] Speaker C: Other things are impacted because that's impacted. Like it could be something so simple.
[00:27:28] Speaker B: As well, geez, since the price, the oil is jacked up, the price of gas goes sky high. For however long this lasts, if the price of gas goes sky high, those trucks, those planes, everything can't get access.
[00:27:41] Speaker C: To the fuel that it needs in order to function or it's egregiously expensive. Well, in order to keep pace, they have to raise prices.
[00:27:49] Speaker B: Raising prices impacts not only, you know.
[00:27:52] Speaker C: Consumers, but also business to business.
[00:27:54] Speaker B: And then if it impacts business to.
[00:27:56] Speaker C: Business, they're going to trickle it down.
[00:27:58] Speaker B: To their suppliers and their distributors and other consumers. And so this is macro, right? It's something that has a broad reaching impact.
[00:28:07] Speaker C: Starting from some major something, something that.
[00:28:10] Speaker B: Is, it has a broad reaching impact.
A micro is much more, I don't want to say Logistically constrained, but it's much more understandable to the layman person.
[00:28:22] Speaker C: So a micro something is a great example.
[00:28:25] Speaker B: I can think of a flood in a city, right? We had torrential rains down in California. Okay, the city floods, all right?
[00:28:34] Speaker C: So the worst that happens there is.
[00:28:36] Speaker B: The businesses closed down, people can't get home, and there's flood damage on the houses, right?
[00:28:42] Speaker C: If there's flood damage on the houses.
[00:28:44] Speaker B: We obviously have to fix them. But it's not an immediate thing. It happens after the event passes, happens after it goes to the paperwork and everything else.
[00:28:51] Speaker C: But it is constrained. It's specifically targeted to that area. The impact is controlled.
[00:28:57] Speaker B: It's not like the whole nation is flooded.
[00:28:59] Speaker C: It's simply one area. And usually you're only talking maybe 10.
[00:29:03] Speaker B: 15 people that are impacted by it.
[00:29:05] Speaker C: However, there's an impact in the sense.
[00:29:06] Speaker B: That once this gets passed, we have.
[00:29:10] Speaker C: To do cleanups, we have to restore.
[00:29:11] Speaker B: We have to fix.
[00:29:12] Speaker C: And then that pulls from usually government funding.
Government funding being pulled usually results in tax implications for people.
[00:29:20] Speaker B: And then you have, you, let's say you're disrupted by this.
[00:29:24] Speaker C: You have your cost of being in.
[00:29:25] Speaker B: A hotel, doing whatever you got to do until the situation passes. So this is micro level. It's not affecting everything on a broad scale, but it is enough of an.
[00:29:35] Speaker C: Impact to where you feel it.
Well, when these people, I say these.
[00:29:41] Speaker B: People I refer to YouTube folks, are.
[00:29:43] Speaker C: Doing drawings on the graphs to try.
[00:29:45] Speaker B: To predict something that's going to happen.
[00:29:47] Speaker C: They'Re making the faulty assumption that nothing is going to change at a macro level.
So granting that nothing changes at a.
[00:29:56] Speaker B: Macro level, this is what the data.
[00:29:59] Speaker C: Tells me is the predictable movement of price of given assets.
[00:30:03] Speaker B: Well, the flaw, and why I said it's faulty is that there's always something happening at a macro level, even if we're not aware of it.
When I say we, I'm specifically referring.
[00:30:14] Speaker C: To the United States.
[00:30:15] Speaker B: But it could apply to any country that for those listening around the world, yes, your country might not be aware of certain macro events happening in the United States.
[00:30:24] Speaker C: Similarly, the United States might not be.
[00:30:26] Speaker B: Aware of certain macro activities happening in Hong Kong or happening in Russia, happening in Ukraine. Since we're not aware of all these things, we're not aware of how people.
[00:30:36] Speaker C: Are reacting to those in other countries.
[00:30:38] Speaker B: It takes shape that we see all of a sudden there's this major pump.
[00:30:42] Speaker C: Or a major crash and we don't.
[00:30:44] Speaker B: Know about it till later simply because we weren't aware of what triggered it.
Macro events are happening all the time. So the.
[00:30:51] Speaker C: It's an imperfect science to draw on the graph. It doesn't mean that it's wrong flat. It means that it's an imperfect science.
[00:30:57] Speaker B: You can't perfectly predict price movement. So to me, if you were to ask, sentiment is the one thing that you can bank on and trend is.
[00:31:08] Speaker C: The other piece of sentiment. So trend simply tells us, okay, it.
[00:31:12] Speaker B: Looks like it's headed in a certain.
[00:31:14] Speaker C: Direction based on X, Y that I can clearly see.
Sentiment is around. Sentiment is what you see. Sentiment is what you read. Sentiment is what you hear.
[00:31:22] Speaker B: Sentiment is also around the pattern.
[00:31:25] Speaker C: If the pattern is steady, well, the sentiment is steady.
[00:31:28] Speaker B: If the pattern is up, well, the sentiment is positive. If the pattern is heading down, how sharply down is it slightly down? Is it greatly down?
[00:31:37] Speaker C: And you can use sentiment in conjunction.
[00:31:40] Speaker B: With pattern and trend to try to identify and make a prediction to that.
[00:31:44] Speaker C: Is a little bit more robust than just drawing lines around the tops or.
[00:31:48] Speaker B: Bottoms or crow's feet as an example.
[00:31:51] Speaker C: Again, it's all predictive. Nobody knows for sure.
[00:31:55] Speaker B: They can say they do, but they don't. I don't.
[00:31:58] Speaker C: The takeaway is to make sure you remember.
Everybody's guessing at the end of the.
[00:32:03] Speaker B: Day and they're making assumptions about unchanged.
[00:32:07] Speaker C: Events and unchanged situations and things that are outside of your control and things.
[00:32:12] Speaker B: That are inside your control.
[00:32:13] Speaker C: And they're saying, given things not changing.
[00:32:16] Speaker B: This is what I see. And they still could get it wrong.
[00:32:19] Speaker C: Doesn't mean that we should not see.
[00:32:21] Speaker B: Value in that information. But a lot of it becomes white noise when we see that. They tell you you're about to be a millionaire and then all of a sudden things crap because Trump's talking threats to Iran and then they say, oh, well, Trump, that's what happened.
[00:32:35] Speaker C: Trump killed the business.
[00:32:37] Speaker B: Well, no, what truly happened is that.
[00:32:39] Speaker C: You threw a prediction without understanding that Trump was likely to do that.
[00:32:43] Speaker B: That goes to sentiment. You didn't take into consideration those things that shatter told you was likely to be the case.
[00:32:51] Speaker C: So you didn't adjust your messaging.
[00:32:52] Speaker B: Had you done so, you would not have given the prediction that you're going.
[00:32:56] Speaker C: To be a millionaire, because none of.
[00:32:57] Speaker B: It made any sense.
That's what happened leading up to the FTX crash. People were like, you're going to be millionaires. It's going to go up to 80 and 90.
[00:33:04] Speaker C: And all of a sudden it goes down to 12.
[00:33:05] Speaker B: And people thought the end is near, when really that was a temporary blip.
[00:33:10] Speaker C: And it rebounded stronger.
[00:33:11] Speaker B: The rebound is always strong when it's a strong asset, which is why a diverse portfolio is so critical.
[00:33:17] Speaker C: If you're going to do it, make.
[00:33:19] Speaker B: Sure you get a lot of different assets, because you cannot predict any single one of them, but you can diversify and strengthen the foundations of your portfolio. It's the best thing you can do. No matter what they tell you. Ignore the charts. Just make sure you have a lot of different, different assets in your portfolio. And don't just bank on the one to get you by, because you're gonna need to fall back at some point. They're all gonna go down, they're all gonna go up. It's the reality of it.
[00:33:55] Speaker D: Sam.
