Show Notes
#Crypto #Cryptocurrency #podcast #BasicCryptonomics #Shitcoin #Doge #SHIB #SaitaChain #FLOKI
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Episode Transcript
[00:00:00] Speaker A: Out of cycle update.
Is Volcoin the PG 13? Way to say shit coin? Cryptotalk FM. My name is Leister, your host. Volcoin, starting to see spinning up in different sites. Yeah, you're like voltron. No, no. You like voltage. No, but volcoin. Vol coin, a volcoin. I'm assuming I haven't dug deep because these kids in crypto say the word jeet, say the word keck that make up words all left and right. They make up another one. I assume they're referring to volatile, right? Vol coin. Volatile coin, because the. The list, the examples they gave are essentially shit coins, but it seems like they're just putting a PG 13 spin, and they don't want to call them shit coins, but that's really what they are. If that's, you know, we're honest and the context. Let me give you some background. The context is, for many, many years.
[00:01:01] Speaker B: Now, Lyster has told you that crypto, by and large, is gambling. You're rolling the dice and see what's going to happen, and maybe you break it and maybe you don't, but that's what it is. And I celebrate and respect anybody who.
[00:01:14] Speaker A: Acknowledges they're a gambler and their gambler.
[00:01:17] Speaker C: Spirit, and shout out to the person.
[00:01:19] Speaker A: On YouTube who responded, this is a while ago.
[00:01:21] Speaker B: And he said, quote, this is my Vegas. That's what I respect. I respect when you acknowledge it's gambling. You're rolling the dice, you're shuffling the cars, you're pulling that slot machine to.
[00:01:31] Speaker A: Try to see if you're going to.
[00:01:32] Speaker B: Win it big, because that's what we're doing.
[00:01:35] Speaker A: So I was reading articles that were talking about, and it's. It's now widespread. People have accepted, you know what? Maybe there's something to this. Maybe it actually is gambling. Of course it's gambling. We know it's gambling. That's what it is. You're gambling. There's nothing wrong with gambling. I just said, admit that that's what you're doing. Think about it. At the basic level, for the vast majority of traders, we're not talking those in the bubble. We're talking the vast majority of traders. What are you doing? You're taking some money. You're putting it in a project with the hopes that it skyrockets and makes you rich. The rich might come over multiple iterations of buy and sell. The point is, that's gambling because there's crap, right? And it happens and you lose, and some people will sell and they take the loss. And that happens, and you're taxed on it. So it. How is it not gambling? That's what it is. So then the question was around regular regulation, right? Should we regulate it as gambling? Well, I don't think it's a good idea either, because if you think about the states that regulate gambling, I came from one, Nevada. The problem with those is that they don't let you do gambling freely. It's so heavily regulated. There's so many restrictions on it. It's no longer fun. And the profit potential is completely constrained away from anything you might think of. So I'm not a fan of trying to regulate it as gambling. I think we need smart regulation. I don't think gambling regulation is the answer.
[00:02:54] Speaker B: But then this volume coin came up.
[00:02:56] Speaker A: As a term that I had never even heard. And again, I'm assuming it means volatile.
[00:03:00] Speaker B: But it's another term for shit coins.
[00:03:02] Speaker A: And it's saying that the vast majority.
[00:03:04] Speaker B: Of people are going after these shit.
[00:03:05] Speaker A: Coins to try to strike it rich. Okay. Vol coin is a term that you're going to hear now and then, and.
[00:03:13] Speaker B: Apparently it's gaining traction. I don't know why.
[00:03:15] Speaker C: I think it's a terrible way. Like, what is it that we're so afraid of? Why are we so afraid of saying shit coins?
[00:03:21] Speaker A: Because that's what they are.
[00:03:22] Speaker B: That's what people know.
[00:03:23] Speaker C: Them are shit coins.
[00:03:24] Speaker B: And I'll include Saitama, aka side of chain, in that, because I just had a back and forth with somebody on YouTube who would swear up and down.
[00:03:32] Speaker A: That the big deal with, say, cytochain, right, is the blockchain, you know, layer zero. Gonna do all this big stuff and it's gonna change the world and it's gonna be amazing. And all the stuff in the past, in the past, it's a new era. And I remind you that this project has, last I looked, $17 million in the market cap at a peak of, I think it was told, $7 billion all the way down to 14. 17 million has never really recovered. Sentiment lost all over the board. If you do regular search engine searches, you're going to see people call it a scam. And I said, it's not a scam. You just have incompetent devs. The vast majority of these so called vol coins, that's what it is. They're not even scams. Like, they have shib in there. That's just incompetent devs Satama. Incompetent devs doge. It doesn't do anything. So maybe what they're trying to do is target those coins that don't deserve to be called straight out coins, as in the sense that they're trying to.
[00:04:28] Speaker B: Do something, they just suck at it.
[00:04:30] Speaker A: Maybe that's what that's. Maybe that's what vol coin is referred to.
[00:04:34] Speaker B: Okay, fine.
[00:04:35] Speaker A: I am just simply saying, if I. If I look at side of chain as an example of one of these vol coins, then I look at the tier of all the other ones, its peers, and I can only describe them.
[00:04:45] Speaker B: As ones where the devs just are incompetent, don't.
[00:04:48] Speaker A: They?
[00:04:48] Speaker B: Almost cussed what the hell they're doing.
[00:04:51] Speaker A: And they cause sentiment harm to their own projects. So let's accept that. I'll accept that. I'll. I will adopt that term. And my announcement going forward is as I refer to these tokens, I'm going to refer them as vol coins. No longer shit coins like I used to do. That's my message to you and my update. So if you do see that vol coin, that's what it likely refers to as volatile. What used to be shit coins, but are not necessarily the crap, the absolute crap. You know, like bonk. Right? They're just kind of this middle tier of trash that happened to have shit devs behind them. Sorry, it's what it is. So that's my attestation to you. We'll keep an eye on that one. And I'm not going to do any further advanced coverage on cytochain until this alleged date of April 15 and this alleged layer zero blockchain and this alleged skyrocketing of value that keeps getting chatted my way. If that happens, I'll do an update and I'll talk about it. That's how it works. I want that smoke.
