S1: Time can move very slowly. When you're in a bear market.
S1: Watching your crypto and NFT value drop can be a
S1: depressing experience. Well, we've survived one bear market and appears
S1: that we're going to make it through another today. Your
S1: favorite crypto clowns? Take a look at where we've been,
S1: what we've learned along the way, and discuss where we
S1: think this all might be going. So be of good cheer.
S1: We believe the bull is almost here. Let's talk financial
S1: mammals and have some fun as we give you our
S1: thoughts from inside the bear market on episode number, get
S1: this 700. Of the Bad Crypto Podcast.
S2: 54310.
UU: It's listen who's bad?
S3: Okay, the bad crypto podcast. Yeah, we get it. Hey
S3: talking bitcoin with Joel coming Travis right. Yeah digital money
S3: and blockchain keep you informed and entertain. Make you think
S3: make you laugh. But remember stay bad.
UU: The bad crypto podcast. Let's go.
S1: This is the big 700 live from the Republic of
S1: Bad Cryptopia well recorded, but we're live as we're doing it. Wait,
S1: let me check my pulse. Yeah. I'm live. Trav, you live.
S4: I'm still alive.
S1: You're like the two live crew. Two live crew?
S4: Yeah. I'm not a smoker. Do you know I'm going to.
S4: I want to say this. This episode number 700. Thanks
S4: to everyone who has tuned in and heard some of
S4: those along the way. And just as a quick recap, Joel,
S4: when we started the show, right, we started the show in,
S4: let's say the closest time frame that we have is like,
S4: it looks like July 16th is when we started the show,
S4: and the total crypto market cap at that time was
S4: $80 billion. That was the total. That was the total
S4: volume right there. So that's a historic that's a historic time.
S4: And now here we are now with it like almost
S4: 1.1 trillion. So we've gone up over about what, almost
S4: 15 x since, you know here we are since starting
S4: to show. Did we do that years ago? It was
S4: all on us. Yeah, us and Ben Armstrong, we did
S4: it all. And a little bit of Michael Saylor. Not much,
S4: but some. And you know we've seen this thing is
S4: almost didn't we see it over 2 trillion wasn't like
S4: two point.
S1: Something over three.
S4: 3 trillion. My god.
S1: So yeah I'm going to pull up CoinGecko in a minute.
S1: We'll take a look like we're.
S4: In for about another run here. It should be should
S4: be interesting to see over 10,000 coins now Joel.
S1: That's crazy. And those are just the ones that are
S1: being tracked by CoinGecko. There's I guarantee there's at least
S1: that many more that aren't being tracked and who knows.
S1: And so so, you know, we're just going to have
S1: a little conversation today. Talk about some of the things
S1: that we've learned. But let's let's go ahead and historically
S1: take a look at the crypto market. Those of you
S1: that are listening that's fine. If you want to see
S1: what we're talking about here, we've got some visuals you
S1: could check out either YouTube Rumble or on Odyssey. This
S1: is the total crypto market cap that you were talking
S1: about right here, Trav. And in 2018, at the top
S1: of the market, the crypto market cap got to 812 billion,
S1: right up from well, it's 2017 about 80 billion.
S4: And then I thought then Joel, then my my thought
S4: was we're going to hit a trillion. And that was
S4: probably going to be the top of that first one.
S4: That's why. But then what was so crazy about that
S4: one to me, Joe, if you actually even zoom in
S4: on that one, is that bull market was so that
S4: bear market was so harsh because what ended up happening
S4: was it hit the high and then boom, that it
S4: tanked right after that. Like if you go in and
S4: look at that thing, just even scroll it over a
S4: little bit. January of 2020, of 2018, it just went
S4: it was down 40% before you know it. And then
S4: I know that I got invited to speak at this
S4: coin Coins bank cruise that went from Singapore to Malaysia
S4: to Thailand, then back to Singapore. Then we it was
S4: so crazy when we initially started this thing. It was
S4: just so nuts because there weren't a lot of other podcasts,
S4: and so people were inviting us all over the place.
S4: We even got to go to Switzerland. So I literally
S4: was on the beach one day in Switzerland, the next
S4: day flying to or on the beach in Thailand with
S4: the Singapore. Flew to Switzerland next day. Six feet of snow. Yeah,
S4: like it was insane. And then the market, it just tanked, dude.
S4: It went up and then boom, it was down 40%
S4: before I could get back home to sell any cryptos. Right.
S1: It was rough, you know, which is. And now if
S1: we so forward to 2021, this space right here, we'll
S1: just pick a 90 day or we'll go to the max.
S1: But I'll pick from 2020 through. We'll say that's fine,
S1: we'll go with 2021 and CoinGecko is not. Being supportive
S1: of me right now. I'm just going to do that.
S1: Shouldn't it be like when you click on these things should, like,
S1: tell you exactly where where you want it? Yeah. There
S1: you go.
S4: Okay. That's kind of what you do. So.
S1: So there you go. There's 2020. We got up to
S1: three bill 3,000,000,000,050. Scroll back.
S4: Take that. Left one down there on the volume. Move
S4: it over to to the beginning of 2020. Because you
S4: can see how Bitcoin tanked out in like March like 3000,
S4: 3800 bucks or something. Bitcoin did. You can't really see
S4: that coin on this particular chart. But look at that
S4: run it went. What was the market cap in say
S4: April of 20?
S1: Uh, a market cap was 190 billion. And then it
S1: went up.
S4: To.
S1: 3 trillion. And then it fell. So, you know, here's
S1: what I learned through two bull markets is if you
S1: want to take profits, you want to do it before
S1: the market crashes. And so it's easy to get caught
S1: up in the hype and the FOMO. And it's going higher.
S1: It's going higher. You don't want to miss out on
S1: those profits as it's going up. But I try to
S1: peel off a little bit, just a little bit here,
S1: put some profit, put it in the bank because as
S1: I like to say, it never hurts to take profits.
S1: And I did that in a small way. 2017 2018
S1: really small because when when it crashed, I really felt it.
S1: In 2021 20 to 2021, I did a little better
S1: than I did the first time, but still not enough
S1: to make me say I learned my lesson the first time. Yeah,
S1: and even worse for NFTs, right? Because we had there
S1: was NFTs that I could have sold for 1020 ETH,
S1: you know, back at the boom that are now worth
S1: 2 or 3.
S4: Ouch. Yeah. And then the fact is that at that time,
S4: ETH was worth so much more. Right. You're talking about
S4: 3 to 5000 ETH at ten of those versus 1600
S4: ETH and worth than 2 or 3. So, you know,
S4: I do think that that is going forward is make
S4: sure to peel profits off. The problem is, is that
S4: when you get caught up in this game, it becomes
S4: a little bit like it becomes a little bit like
S4: gambling because you're like, oh man. Like, look at this
S4: coin right here. It's like. And then remember I heard
S4: news that Snoop Dogg was launching some stuff on gala music,
S4: and the token price was like, you know, $0.30 or something.
S4: I was like, oh, dude, like this with Snoop Dogg
S4: coming over and releasing, you know, the return on Death
S4: Row like that, this price, this price is going to
S4: go and and then so I bought it, I sold
S4: a bunch of other tokens and went in that and
S4: that thing just tanked, dude. And I was like, oh man.
S4: So it's almost like, you know, I think I did
S4: pretty good along the way. But then there was a
S4: couple of times where I just, I just aped in
S4: on stuff that I shouldn't have aped in at a
S4: time that I shouldn't have aped in on it. And
S4: so it's like, that's what it is, is put that
S4: over here. It's like if literally when some of these
S4: coins were going, woosh! If I just take those out,
S4: put them in the bitcoin, take those out, put them
S4: in the bitcoin. That's what the maximalist would say to do.
S4: Put everything you can in Bitcoin. Even if Bitcoin goes
S4: to 70,000 goes down to 15,000 you still have that
S4: bitcoin right. Bitcoin's a bitcoin. And so I think that
S4: this time around is going to be interesting. I think
S4: every time seems like it's a little a little more
S4: unique because the 2017 one was struck with all those ICOs.
S4: And so one of the only things you could really
S4: do with your ETH at that time was buy in
S4: the ICOs. Right? So it's like forced investments. Most of
S4: those tanked 99 plus percent of those are not around anymore.
S4: Just like James Altucher said back in the day, these
S4: are all going to be scams. Don't buy into those.
S4: I mean, we interviewed him really early on and he
S4: said that and like, haha, yeah, whatever.
S1: Do you think? Most of them were scams though? I
S1: don't know. I don't think they're scams.
S4: I just think that, you know, nine out of ten
S4: startups fail.
S1: Yeah, that's different than a scam though. Like, I want
S1: to be real careful as we frame that they're scams
S1: where people are there to raise money to take your
S1: money and run off with it. I don't think that.
S4: Was their intention. Most of their intention was not to
S4: do that. But startups fail. But that's how the government
S4: in Congress is kind of framing it. It was like, oh,
S4: they're a scam. We got to protect you from your money.
S4: It's almost like, no, they're startups. And most of them
S4: fail because startups mostly fail, right? And that's just the
S4: nature of the game. But it's been wild. And then
S4: 2020 NFTs took off. Metaverse. Things were so hot. And
S4: now here we are again. Eyes pretty hot, but we
S4: didn't see any tokens really blow up right now. Yet
S4: based on that. And now and now and now is
S4: kind of you could.
S1: Tell people because meme coins have been, you know, the
S1: soup du jour. And I just don't want to play
S1: in that because I don't want to gamble it personally.
S1: I want to invest. I want to buy crypto and
S1: tokens that I believe are going to have real world. Application.
S1: I want to buy NFTs where I think there is
S1: utility to them. But boy, that hype cycle was crazy.
S1: And you know, we we only ever created collectibles. That
S1: was that was the whole Mo for blockchain heroes is
S1: you know, we never said there's going to be any utility.
S1: We never made any promises of any value. We just said, hey,
S1: here are these cool digital collectibles we like.
S4: They're going to be.
S1: Fun and they're going to be fun.
S4: We're going to deliver delight along the way, which we did.
S4: We added all kinds of utility with forging events and then,
S4: you know, uploading these and transforming X amount of cards
S4: into a new card. So it's like we've done a
S4: lot of stuff to make it fun along the way.
S4: And now there's a game.
S1: Now there's a game. In fact, you know, this is
S1: this was not something that was ever promised, ever offered.
S1: And we've been working behind the scenes to create Blockchain
S1: Heroes Blitz. If you are holding Blockchain Heroes cards from
S1: the retro Rebellion series, the latest series, you can log
S1: in with your wax cloud wallet. And by the time
S1: this show comes out, the the tournament will be happening.
S1: There's actually a tournament where you can win few tokens
S1: playing this game. I don't know of anybody who has
S1: out of the blue surprised and audience after not not
S1: saying there's going to be any utility and then offered
S1: said hey, guess what, we made just something right? And
S1: we did. And here it is. And you can pick
S1: from your your heroes and villains and they can fight
S1: against one another. And it's a fun game. There's some
S1: we need.
S4: To play in one of these games, Joe, that could
S4: be kind of fun. You and I, we could play
S4: one of these. I'm not. Well.
S1: You play it yourself. It's a solo game. You pick,
S1: and then it's like you play against the computer. So
S1: that way people can join any time. You don't have
S1: to write for other people to come on. We did
S1: it in partnership with who now has, I believe, five
S1: games and you can earn token anyway. Go.
S4: I mean, I'll tell you this, dude, these cards are
S4: still so beautiful. I think that those retro rebellion cards
S4: are potentially some of the most beautiful NFTs that have
S4: been created, and they were on wax. And so I
S4: don't think they got the popularity or the buzz that
S4: they should have, because there's some freaking beautiful ones do
S4: this animated. They have their own, they got their own
S4: soundtrack and stuff. And it's just nicely done to to
S4: Zach to to ideate those. And then the developers and
S4: the coders and the animators, we had to help create
S4: those beautiful.
S1: You guys can go to Heroes Blitz and and go
S1: check that out. So I've got the Bitcoin price and
S1: chart up here. Just a time stamp. We're recording this
S1: early because I'm going to be out of town and
S1: Travis is going to be moving soon. So just a timestamp.
S1: Save a frame of reference. Even though the show won't
S1: launch until mid-October. It is the 4th of October, and
S1: at this moment, Bitcoin is $27,584. And if we go
S1: ahead and look at the look at that, the chart here,
S1: I mean, this is this is where we were at
S1: our peak about 60. I can't quite get it. Let
S1: me see if I can zoom in so we can
S1: get there. Looks like 60. This says 67 617 I
S1: got up to 6969. Yeah.
S4: 69 420 there we go. But actually, Joel, if you
S4: scroll back out and you hit, hit, hit back out
S4: just a little bit, the whole thing go back out
S4: to so you can see the 2021 version. So you
S4: look at that right there. You see that. So you
S4: had the little pop right there. And then you see
S4: this little bop right over here in like say July
S4: August of 2019. So we're maybe in that right now
S4: where it's going to go up. And then we can
S4: see if it's going to follow that trend. Then it
S4: went down. But that was because Covid hit and everything
S4: went a little weird. So that could be a little
S4: different than that. It could just take off on its
S4: own and have its own path. I personally would love
S4: to see it go down to about 20 grand before
S4: it makes its big pop, because then I could snag
S4: more once my home is sold. That's just personally, that's
S4: just my own personal greed that's going go down about
S4: 15,000 before.
S1: Yeah.
S4: So I'm saying.
S1: The the having is coming in May of 2024. And
S1: typically that is you know, the primary driving factor of
S1: the value of Bitcoin is that as Bitcoin gets more
S1: difficult to mine and there's fewer bitcoin that are being mined,
S1: it becomes more scarce. Because remember there's only 21 million
S1: of them ever. And you know to review if there's
S1: 21 million bitcoin ever. We've not yet mined 20 million.
S1: A million of them are in Satoshi's wallet or wallets.
S1: Which brings us to 19. 4 million or more will
S1: be conservative, are allegedly lost in wallets that will never
S1: be found in a dump in Kansas City. And so
S1: that brings us down to 15 million. You got to
S1: figure at least 4 million are in strong hands. That
S1: ain't never selling, right. They they are. They're locked down.
S1: That takes us down to 11 million that, you know,
S1: we got 8 billion people in the world. So you know,
S1: do the math on that. That's a lot of people
S1: that are going to be competing for a very scarce currency. Maybe.
S4: Maybe, maybe so just just so you know. So the
S4: time stamp on this episode is going to be coming
S4: out the week of October 20th, right? So based based
S4: on that, we are right about six months away from
S4: the Bitcoin having 180 days. If you go look at
S4: buy Bitcoin worldwide and take a look at the having,
S4: we are about 180 days away from the having date.
S4: They're saying the having date is going to be April 17th, 2024.
S4: Based on based on right now, that's going to change
S4: a little bit. It's going to move a few days
S4: either way depending on how long sometimes some blocks are having.
S4: But it looks like it's going to be about, you know,
S4: 29,000 blocks or 27, something like that. Until the having.
S4: Now remember, whenever the 2012 happened having happened, Bitcoin drop
S4: every ten minutes, new bitcoins were dropped from 50 new
S4: bitcoins to 25 Bitcoin 2016. It dropped again from 25
S4: to 12.5. And then in May of 2020, it dropped
S4: from 12.5 to 6.25. Now this 1 in 2024 on
S4: April 17th and typically right about six months up until
S4: that new, that new halving we start seeing live. So
S4: we are seeing the beginnings most likely of Bitcoin doing
S4: its thing. Now. It might drop a little bit before
S4: it takes off a little bit. We're going to see.
S4: But this is going to take the reward from 6.25
S4: bitcoin per block to 3.125 bitcoin every block. Which means
S4: Joe right that the cost of mining these bitcoins should increase.
S4: And the cost and the value of bitcoin should increase.
S4: Because these are deflationary in nature, the cost of doing
S4: business should be much higher. So if it's going to
S4: have then maybe we see, you know, if the top
S4: was nearly 70,000, maybe we see 130, 140,000 as the
S4: high of this next cycle potentially. Maybe that's a good gauge,
S4: I don't know.
S1: Well, you know, the years where the having happens is
S1: traditionally at least what we've seen is something to be watched.
S1: And the the years where it doesn't happen. That's a
S1: have not. So you have the haves and the have nots, the.
S4: Happenings and the have nots.
S1: So in 2020, you're right, Covid set off a global
S1: financial crisis, right? There was a lot of panic. And
S1: so it certainly did not help crypto. Well, we have
S1: some things that are happening now which could also impact
S1: the value of Bitcoin. For one, we've got more adoption
S1: happening by World Financial Services. And we have the SEC
S1: saying that Bitcoin is not a security. And we have
S1: Blackrock and the other, you know, evil overlords that run
S1: the world that are looking you know grayscale is another
S1: one that they're applying for their ETFs. And when that
S1: happens that's going to give legitimacy to Bitcoin to a
S1: lot of investors with a lot of money that will
S1: go okay. Now this is being treated as an asset
S1: class that I can have confidence in investing in. And
S1: so you know what what happens there when these ETFs
S1: finally get approved.
S4: That's going to be remain to be seen because, you know,
S4: how are they going to actually have it set up?
S4: Are they going to be people are going to be
S4: able to go in and buy a bunch of Bitcoin
S4: paper Bitcoin. That's not even actually bitcoin, because if that's
S4: the case, that could suppress the price of the overall
S4: bitcoin because people are buying into Bitcoin that doesn't technically exist.
S4: I think that's their goal. But if you look at this,
S4: if you're Blackrock and you hold one, you hold $10
S4: trillion worth of assets, bro. Crypto all of cryptos 1.1 trillion.
S4: Right now Blackrock could come in and buy up all
S4: of it. Everything that's available. They could come in and
S4: buy and sort of shut down some of these things
S4: over as they become available to buy. Boom. They buy them.
S4: They're going to shut. They could shut it down. That's
S4: weird to me, but I don't think that's going to happen.
S4: I think that this bull run will probably take us
S4: up over $5 trillion total in the market cap, hopefully,
S4: and then maybe even closer to 10 trillion, because we
S4: can't have one entity being able to come in and
S4: move markets so efficiently like that. The ETF is going
S4: to be a little different on how they're doing that
S4: exchange traded fund and how they're going to build that out.
S4: I know that paper, paper silver is no good. There's
S4: like what, 500oz of silver for every one ounce of
S4: silver or it's 500oz of gold. One of the two,
S4: I don't remember which one is which, but there's 250
S4: times as much fake paper, gold or silver. And the
S4: other one is 500 times fake gold, whichever one it is,
S4: I don't remember. So if they start saying, hey, there's
S4: 500 times fake Bitcoin, and then now all of a
S4: sudden we have, you know, a billion bitcoin that people
S4: are able to buy even though it doesn't exist. That's
S4: going to be weird. So you don't want to make
S4: sure that you have your real Bitcoin in your own
S4: real wallet that you have your own real keys to.
S4: Because if you're relying on, you know, fidelity or Blackrock
S4: or anybody else holding your Bitcoin for you and your
S4: retirement fund because you don't understand it, you're probably dealing
S4: with phantom bitcoin well.
S1: And that seems like the remedy to to having this
S1: scenario happen is that when you go and you buy
S1: your bitcoin through one of these brokerage houses, that you
S1: withdraw it and put it on, you know, your own
S1: ledger or, you know, Trezor or paper wallet or whatever,
S1: that you are holding the keys and that you are
S1: the custodian of it. Not only is it dangerous to
S1: have them hold it because, you know, they can create,
S1: they can print fake bitcoin that's not there to sell
S1: and they just profit on. But also let's say this
S1: social credit score system comes to us, you know, as
S1: it is they can freeze your bank accounts now. Well
S1: why couldn't they freeze your your crypto account through, you know,
S1: a major brokerage house? They could. And so this is
S1: why self custody and the spirit of bitcoin the intent
S1: of it for you to be your own bank, be
S1: your own bank.
S5: Because yeah.
S4: Yeah. You don't own your own crypto keys. You don't
S4: own your crypto. We've been talking about that for the
S4: longest time. And I think it's more relevant than now.
S4: Now investment strategies moving forward I would say again, we're
S4: not financial advisors, but I would say that what we've
S4: learned from the previous two bull runs is that, you know,
S4: peel off some profits, put some into Bitcoin, most likely
S4: a pretty good idea if you want to gamble on
S4: some of these coins that are irks and some of
S4: these other, you know, different cryptos, feel free whichever ones
S4: you think are the maybe the best ones. We've interviewed
S4: a lot of them on the show, right? Go ahead.
S4: But always think about building up your satoshis because long
S4: term it's beginning to look a lot like not Christmas.
S4: It's not. It's beginning to look a lot like potentially
S4: Bitcoin could become the world reserve currency down the road. Right.
S4: More countries are utilizing it. You know companies or countries
S4: are saying hey this is an official non favorable currency right.
S4: Or whatever, whatever the term that China said we mentioned
S4: a couple of weeks ago it was a non replicable
S4: token or something right. Not non-fungible non replicable. Like you
S4: can't create it out of thin air. And so this
S4: is a real thing. And so as more you know
S4: more countries around the world start adding validity to Bitcoin.
S4: Bitcoin's the clear winner on this thing for now. Right.
S4: And there's other companies and projects that are building stuff.
S4: But if you have a headquarters and you have a
S4: CEO and you have an effervescent founder that's out there
S4: talking about it, it's not as decentralized as you would
S4: like it to be. Whereas Bitcoin has none of those. Right?
S1: Effervescent founders, I like that. It reminds me of like
S1: Alka-Seltzer or something.
S4: It's kind of what it is. They're out there chatting
S4: rah rah rah, buy my bitcoin here.
S1: Here's my strategy. And of course you all are smart
S1: enough to go do your own due diligence and figure
S1: this stuff out. Don't do anything just because we're doing
S1: it or because you heard it on the show. Figure
S1: it out. So my strategy has been during this down. Market.
S1: I've been selling some of my NFTs for cryptos that
S1: I think are at a low. For example, wax is
S1: like $0.04 right now. The wax is lower now than
S1: when we sold the first Blockchain Hero series in 2020.
S1: It was at they were five five. It was five. Wow.
S1: So so right now I'm selling some NFTs on wax
S1: for less than I bought them for, but more wax
S1: than I bought them for because I might have bought them,
S1: you know, for a hundred wax when wax was, you know, $0.50.
S1: But now I can sell it for 500 wax. And
S1: I'm my wager. My calculated risk is that that wax,
S1: if wax does indeed go up again, and I'm I'm
S1: hoping that blockchain does succeed, then the value of that
S1: wax will be more than the value of the NFT.
S1: In other words, I don't think the NFT is going
S1: to increase in the same value as the value of
S1: the token, right?
S4: Better a good idea to stack some of that wax, baby,
S4: if you can. If.
S1: Yeah, well, if if wax can pull it off. They're
S1: making a lot of moves. There's some really interesting things happening.
S1: If you're not paying attention to the partnerships they're forming.
S1: There's alliances happening between blockchains. And I don't know what's
S1: been publicly announced yet. So I'm not going to say
S1: anything here in this recording that would violate any trust
S1: that's been put on me. Because, as you know, Travis
S1: and I have been on the Wax Advisory Council and
S1: we get to hear some things and we don't want
S1: to do that.
S4: And a bag of chips gets you a bag of chips.
S1: Yeah, pretty much pretty much. But they're great people. And
S1: we we think that there's opportunity there. And then my
S1: my strategy for for bitcoin is in crypto is I'm
S1: looking at the market now after six years of being
S1: involved in this six and a half and going look,
S1: if token X fails it has no bearing on whether
S1: or not Bitcoin fails. But if Bitcoin fails, all the
S1: other tokens are likely to fail as well. So what
S1: is the most reliable investment that you can make? So
S1: I think maybe I'm maturing and growing in my investment
S1: strategy and starting to listen more to those who have
S1: been purists on the show saying, right, buy bitcoin.
S4: Coin, buy bitcoin, buy Bitcoin.
S1: Yeah.
S4: And the thing is, is like Bitcoin is not going
S4: to you know, you're not going to have Bitcoin going
S4: 100 X right. Those days are done. Bitcoin has gone
S4: up I don't even know that. It's like a million
S4: or something stupid since the early days. So if you
S4: got in bitcoin early you do not ever have to
S4: worry about dinero again. Because if you got in that
S4: shit under 100 bucks or under 500 bucks, and here
S4: we are at 20, 30,000 bucks and maybe going to
S4: hit 100,000 bucks. You're doing good. But so that's why
S4: I do think that it makes sense to peel off
S4: some to put it in the bitcoin. Maybe have a
S4: percentage of that that you're gambling on some of these
S4: cryptos that you think might be good technologies down the
S4: road because you got good leadership, you got people that
S4: you like behind it, checking out the market sentiment about those.
S4: Because as Bitcoin goes historically, Ethereum goes, the rest of
S4: them go. Bitcoin doesn't normally have more than 50% of
S4: the overall value of the crypto market. I think it's
S4: sitting at like 45, 46%, something like that right now.
S4: And so typically it'll get a little bit lower as
S4: some of the markets as some of the other cryptos
S4: start taking off and those in the top 50, there's
S4: going to be some really big ones in the top
S4: 50 that go 2050 x. There's no doubt about it.
S4: But picking the right ones can be hard. Don't put
S4: all your eggs in one basket. I've done that before.
S4: That tanks that that tanks or stuff that tanks your basket.
S4: But I do think that, you know, selling my home
S4: right now is a good time because I can take
S4: that and get into some cryptos and, and have that I,
S4: that I do tend to enjoy and also taking some
S4: of that out and building a new startup that I'm
S4: working on. So this is fun. It's like I think that,
S4: you know, crypto has been a really wild ride. We've
S4: we've we've seen the ups, we've seen the downs. And
S4: I think we're about to see another big up. But
S4: then again, it's I also think that we're in such
S4: an interesting time now, Joel, with the economy kind of
S4: teetering and some of these world economies doing weird stuff
S4: right now and just like, man, if that's the case,
S4: if some of those things tank, you want to actually
S4: be in some Bitcoin because, I mean, you can't carry
S4: over $10,000 or more worth of gold. That's only five
S4: gold coins at this point, right? If you go across
S4: state borders or country borders, the only thing you could
S4: really do is have crypto in an encrypted wallet, and
S4: you could go with a few million dollars if you're lucky. So,
S4: you know, I think that having crypto at this point
S4: is a no brainer. Picking the right ones can be
S4: a little difficult, but as always, probably a good idea
S4: to grab some bitcoin. Not financial advice, but if you're
S4: tuning in to this, you know how it is. You
S4: got to do your own research and figure out what
S4: makes the most sense to you, because there is no
S4: silver bullet. We're going to say, hey, do this. You're
S4: going to be a. We never tell you any of that.
S4: We never. You're not going to make money. Listen to
S4: our show. You're going to just research it and find
S4: it on your own and be like, oh, silly rabbit.
S1: Silver bullets are for killing vampires. That's what we do
S1: with those. So, you know, the strategy for the coins
S1: that are in the tank is. Well, I'm holding them.
S1: If the project is still alive and they're, you know, trying,
S1: they're plodding along, trying to survive the bear market. Well,
S1: I'm going to hold some tokens, and I'm going to
S1: wait until. Because when Bitcoin goes up in the market's back,
S1: invariably many of those tokens will also rise along with them.
S1: And same thing with these NFTs. You know, I bought
S1: a mutant ape and it's probably it's probably survive the
S1: best out of all of them. But there's a lot
S1: of NFTs I have that have not kept value at all.
S1: And as long as the project is alive, why get
S1: out now? You know the market's going to come back.
S1: There is going to be another wave of excitement around
S1: NFTs as we move towards mainstream. And I remember building
S1: websites in the late 90s, and then the market collapsed
S1: in 2000, and people were writing articles that say, oh,
S1: the internet's over and e-commerce is over. And for four
S1: years I hung in there and I kept building, and
S1: I kept looking for ways to monetize as I'm growing
S1: my content. In 2004, four years later, it started coming back.
S1: And now look what happened. Bigger than ever. The internet
S1: is ubiquitous, and sticking with it was, you know, clearly
S1: the thing to do. And this is what's going to happen.
S1: I believe with crypto and NFTs, adoption moves on.
S4: Web one, right. It kind of crashed at the end
S4: of the year 2000, 1999, 2000, the big Tech bubble
S4: web one was kind of done. And then the grumblings
S4: of web two were beginning. Right.
S1: And grumblings.
S4: Yeah, grumblings and rumblings and, you know, see which ones
S4: we're going to, which ones were going to be the winners.
S4: I remember going to San Francisco in 2007 to the
S4: web two Expo, and just seeing all that was Twitter
S4: was brand new. You know, YouTube had just been acquired
S4: by Google and, you know, like, oh man, these for
S4: $1.6 billion. Like, how much is YouTube worth at this point?
S4: You knew YouTube was going to be worth so much.
S4: Now they even got YouTube TV. You can watch and
S4: I can see my Kansas City stuff, my news stop,
S4: and they're showing me Kansas City ads. It's like you
S4: knew they were going to do that. You knew that
S4: stuff was coming. And web two and here we are
S4: at The beginnings, and we've got some rumbling grumblings of
S4: web three. People are starting to build stuff. And I
S4: think that as this thing moves forward, I really think
S4: we're going to see a big shift with stuff. Joel,
S4: I think moving forward is going to be way bigger
S4: than VR. And I think when Apple drops their Vision
S4: Pro and because they have it, so you can actually
S4: see through. So they have cameras on the outside that's
S4: video and what you're seeing out there. So you're seeing
S4: it in here. And then you can see stuff on
S4: top of it. And now quest has come out with
S4: their they're coming out with their quest three. That's going
S4: to allow you to see through more. And that's going
S4: to be huge because then you can start putting actions
S4: and animations on top of real world things. And that
S4: reminds me of the company Vadim's VA Tom s right,
S4: they would block V originally back in the bull run
S4: of 2017. They're still building right. And they're creating these
S4: little virtual, you know, things that's popping up in the world.
S4: And so I think their time will come eventually as well.
S4: I'm kind of hoping that their time comes or some
S4: technology like that, because the the merger between the physical
S4: world and the digital world through your AR lenses is
S4: going to be another game changer. And I think that's
S4: going to be a fun thing to watch. And then
S4: being able to use AI to create new landscapes in
S4: AR and VR just by typing it or telling it
S4: what you want to create it like, we're really close
S4: to Star Trek shit, Joel.
S1: Are we going to be Borg? You will be assimilated.
S1: Be part of the collective.
S4: You will be part of the authoritarian. Hey, you.
S1: Know, we started this show not knowing, not being experts
S1: in wanting to learn from people smarter than us. Turns
S1: out we've learned a little bit along the way, but
S1: we're still learning. It's still a journey. We're glad that
S1: you guys are here with us on this journey. And
S1: for those of you who are not in the bad
S1: crypto nifty club, we mint NFTs and we are dropping
S1: them many times for free. And if you go to
S1: what is the what was the uncut dot network forward
S1: slash no.
S4: Bad crypto dot uncut dot network.
S1: Yeah.
S4: Or you can do.fm either one. Both of them were.fm.
S4: We're back crypto their network.
S1: We'll get you there and get the bad crypto nifty
S1: club NFT. It's like three bucks and we're going to
S1: airdrop stuff to you. We've already done a bunch of them.
S1: And I think Travis, you were.
S4: Almost 50 or something. Haven't we've done like 40 or 50.
S4: We've dropped to people. Yeah.
S1: This picture that you've created behind you, I think you're
S1: going to mess with it a little bit.
S5: More like I want.
S4: To animate it, I think I want to animate it
S4: and do something cool with it. So the so the
S4: bitcoin sort of exploded.
S1: Out of the way for a second. Let's see. Oh yeah.
S1: That looks badass.
S4: How about I just move me. There we go.
S1: Oh yeah. So we're going Travis is going to work
S1: on this. And this is going to be an NFT
S1: that we drop to everybody who's holding the bad crypto
S1: nifty club NFT, bad crypto Dot uncut network. Look for
S1: the spinny red NFT. Like I say, it's about three
S1: bucks and it's only we're only selling it to keep
S1: bots from claiming them, because if they're free, we don't
S1: want to be air dropping to to losers.
S4: Only when I say I say kiss my bots.
S5: Yeah, I say.
S4: I don't say that.
S1: So here's here's my last prediction. Kind of for the
S1: future is that there will be an episode 701 coming
S1: soon to your ear holes.
S4: Right on. We're going to keep trucking until we no
S4: longer are trucking.
S1: So there's no more trucks.
S4: So we're done. So we're done with that. But we
S4: appreciate you all for tuning in, man. You know, we
S4: got so many great fans that have tuned in. I
S4: have you know, I've encountered I know Joel has as well.
S4: When we go to conferences and stuff people are like,
S4: oh my God. I used to listen to you guys
S4: all the time and I'm like, why did you stop? Well,
S4: because I became more smart.
S5: Because the crypto.
S1: Market.
S5: You know, crypto.
S4: Market tanks. And then what happens is I think that's
S4: like we're kind of we like to crack jokes and
S4: then talk about crypto. We don't go so deep in there.
S4: And then, you know, sometimes after a while you're like,
S4: I need to go hear some of these nerdy nerfs,
S4: and then you go talk to them. Listen to this.
S1: All right. Thanks for listening.
S5: Transitory.
S4: We don't want to be your transitory crypto podcast.
S5: We don't.
S1: Care.
S5: Come, go, stay.
S1: But clean up after yourself. And remember, go.
S4: Stay bad, stay bad.
S6: Who's bad?
S1: The Bad Crypto Podcast is a production of Bad Crypto LLC.
S1: The content of the show, the videos and the website
S1: is provided for educational, informational and entertainment purposes only. It's
S1: not intended to be and does not constitute financial investment
S1: or trading advice of any kind. You shouldn't make any
S1: decisions as to finances, investing, trading or anything else based
S1: on this information without undertaking independent due diligence and consultation
S1: with a professional financial advisor. Please understand that the trading
S1: of bitcoins and alternative cryptocurrencies have potential risks involved. Anyone
S1: wishing to invest in any of the currencies or tokens
S1: mentioned on this podcast should first seek their own independent,
S1: professional financial advisor.