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S1: Will defi replace traditional finance? Will Bitcoin ordinals cause Bitcoin

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S1: transaction fees to skyrocket? And is this the end of

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S1: the US dollar is the world's dominant currency? Today we

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S1: welcome Matt Greenspan of Quantum Economics back to the show

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S1: to answer these questions and discover how a simple Bitcoin

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S1: price prediction may or may not have caused a $2,000

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S1: spike within hours. We're here for cutting edge info you

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S1: can use wrapped in quantum silliness. This is episode number 680.

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S1: Of the Bad Crypto podcast. Five.

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UU: Four, three, one zero. Ignition Boost. Bad. What do you

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UU: call it before?

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S1: It's quantum. Right. If we're before quantum physics and quantum computing,

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S1: what's the current terminology for?

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S2: They just call it physics, right? Just physics? I think so.

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S2: I don't know if there's a there's maybe there is

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S2: another term, but what is it called before you eat

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S2: the corn, before it digests? What is it called? Digest,

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S2: which is still corn? What do you call it after?

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S2: It's still corn. Quantum corniness.

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S1: Corn is corn any way that you slice it? Welcome

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S1: to the Bad Crypto podcast. The show for the crypto

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S1: Curious Crypto serious over 10 million downloads well into our

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S1: sixth year. In fact, July 18th will mark six years

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S1: of doing this silliness with Sir Lord Travis. Right. There's

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S1: no sign of stopping. Sorry, not sorry.

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S2: You know, we keep seeing the technologies. We keep finding

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S2: ways that they work and we want to explain them

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S2: to you as we are figuring them out ourselves. There's

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S2: a lot of stuff that's going on and and it

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S2: just feels like this conversation is going to even validate that.

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S2: It just feels like we are edging up out of

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S2: this bull, out of this bear market into another another

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S2: big bull run potentially. So we're about to it's about

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S2: to go boom. Not financial advice, but it should be good.

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S2: This should be fun to pay attention to.

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S1: Well, you know, it's been years since Matt's been on

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S1: the show. And this interview was really triggered by a

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S1: tweet that I saw him make. And we're going to

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S1: share more about that.

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S2: Well, you were triggered. You got triggered. I got triggered. Oh, man.

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S2: Joe got triggered.

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S1: I can't handle it anymore. Go listen to this interview.

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S1: And it's been a long time since this person has

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S1: graced the Bad Crypto podcast here at the Republic of

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S1: Bad Cryptopia. The last time that Matty Greenspan was with us. Oh,

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S1: you don't go, Matty, right? You go by Matty, right?

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S1: Matty Correct. You go by Matty. All right, let me

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S1: do that.

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S3: People say, Matty, I don't correct people unless you ask,

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S3: you go with my.

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S1: Okay. Take two. And it's been a long time since

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S1: this guest has graced us here at the Republic of

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S1: Bad Cryptopia As I can pull up, for those of

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S1: you watching the visual version, it was October 14th, 2019,

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S1: Episode number 320 that Matt Greenspan, who was with eToro

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S1: at the time, came on the show and talked all

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S1: things Bitcoin and cryptos with us. He is now free

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S1: of the corporate shackles and he is the founder of

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S1: his company, which is quantum economics. And we're going to

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S1: talk again about Bitcoin and cryptos and things, mate. Welcome

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S1: back to the show, sir.

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S3: Thanks for having me, dude.

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S2: Yeah, this is actually John. This is not the last

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S2: time we talked to him. We he was on the

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S2: virtual Blockchain week as well, so we interviewed him on

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S2: that for an episode. But we had like we had

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S2: so many awesome people on that. And Matty was just

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S2: another one of the awesome people and he's been doing

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S2: some stuff with quantum economics now and making some pretty

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S2: good calls. In fact, you mentioned to me you said Dude,

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S2: Monty said that on Thursday we're probably going to hit

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S2: 31,000 or something. And then we did. And so either

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S2: a soothsayer or a Nostradamus, one of the two.

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S1: Let's let's give context to this, because a show airs

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S1: a little later on April 10th. He posted that in 10th,

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S1: I believe was a monday, that Bitcoin would be 33,000

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S1: by Thursday. And at that time it was 28,000. Over

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S1: the next two, I to say ten hours, Bitcoin went

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S1: up $2,000. And I tweeted and I'm like, What? Because

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S1: we've been going sideways for weeks and all of a sudden,

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S1: three weeks. Yeah. And it goes up. What? What happened?

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S3: Yeah. No, I don't. Well, as I probably told you before,

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S3: I don't predict what's going to happen. Don't predict the future.

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S3: I don't know. And, um, the disclaimer comes to mind.

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S3: Past performance is not indicate future results. And anybody who

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S3: tells you that they can tell you what's going to

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S3: happen in the future is is certainly lying, including myself. So, um,

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S3: I don't know. You know, I've been toying with price

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S3: calls since I left Utah. I mean, obviously Adi Toro

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S3: And with a financial license, um, there was always this

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S3: you cannot be wrong attitude and therefore, um, you know,

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S3: don't predict the future, and you won't be wrong. You'll

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S3: be okay. Uh, so lately I've been, um, advising on

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S3: this platform called Lubitz, which is the link that you

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S3: showed there on my Twitter portfolio. And it's basically a

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S3: social network for Web3 with smart contract enhanced monetization methods.

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S3: And actually they even just put in real easy to

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S3: use GPT and Dall-e photos. So you could like just

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S3: making it easier for creators to to use these tools.

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S3: And they have this feature called price calls. So this

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S3: is just me like testing out that feature. And um, yeah,

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S3: there I am with the cereal head nft.

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S1: Okay. Looks like another social network that we need to

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S1: sign up for.

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S2: And it's the next generation social.

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S4: Platform for Web3 enthusiasts.

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S5: Joe Nerds.

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S3: The the CEO Albert. Every time he tells me something

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S3: like I hear, I hear Elon Musk saying it like

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S3: two weeks later. I don't I don't know how he

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S3: does it. He, you know, he's just ahead of the game. Mm.

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S2: That sounds good. We'll have to take a we'll have

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S2: to keep an eye on that for sure. But we've

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S2: been keeping an eye on you. So. So tell us,

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S2: you know, a lot of people are saying that, hey,

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S2: you know, we are again, past performance does not indicate

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S2: future results, but we are one year away from the

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S2: having ballpark ish. Right. That tends to seem to be

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S2: the time when things start working its mojo, baby. So

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S2: what do you think? Where are we in the time scale?

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S2: 2021 was good for a lot of us. 2022 was

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S2: not so great. 2023 started out, man, it's starting to

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S2: look better. It's starting to look like they're beginning sniffing

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S2: of that next bull run, baby.

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S3: 2023 started out, I think, the best year for Bitcoin

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S3: ever in January and it went up like 40%, I

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S3: think in January. Don't quote me on the number, but

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S3: I'm pretty sure that was around that ballpark.

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S1: It looks like we were around 16 five at the

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S1: turn of the year. And yeah, as of this recording

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S1: is happening on the 19th of April 2023. Bitcoin is

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S1: currently down a little bit from where it was yesterday,

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S1: 29,002 90 is is it because the SEC, Gary Gensler

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S1: and all this crazy silliness, is that spooking people?

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S3: Well I mean why is it down today? Actually, I

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S3: think that today and yesterday and the like, the last

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S3: few days is kind of trading in a range, literally.

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S3: But I do believe that the banking crisis added fuel

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S3: to the fire. January was just anomaly like the year

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S3: just started out with a bang. Like there's no real

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S3: literal explanation for it other than the price was low.

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S3: Look at the average prices people were buying. Then when

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S3: the banking crisis hit, I think that that gave an

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S3: additional boost to Bitcoin because obviously Bitcoin is the alternative

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S3: to banks and governments who are causing all the problems.

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S3: People losing faith in the US dollar, you know, and

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S3: now we have Russia and China, Saudi Arabia and Iran

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S3: all making friends, which is very uncanny and a bit scary. Um,

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S3: and that's all bad news for the buck and that

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S3: makes people want to flee the ship. Best way to

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S3: do it.

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S2: Best way. You know what was interesting to me and

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S2: I don't even I don't even think Joel and I

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S2: have even mentioned this at all or chatted about it yet.

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S2: But I was watching the thing about Gary Gensler and

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S2: he was talking about regulating crypto, but he's never actually

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S2: used an L1 platform. He's never actually used crypto. And

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S2: here he is regulating it. That's like saying, I'm going

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S2: to get on.

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S6: The Facebook, but it's the internet and I ain't liking it,

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S6: so I'm going to vote against it because I'm, you know.

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S2: It's it's weird to me, you know what I mean?

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S2: And hello, friend. We have a new friend on the podcast.

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S2: What is up?

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S5: This is or or.

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S3: He's four years old.

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S5: Or since.

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S3: He was two years old and he has his own

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S3: YouTube channel where he plays Roblox.

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S5: Awesome. Oh, very.

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S1: Nice. When he turns five, are you going to call him? I've.

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S7: I've. Yeah. Yeah.

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S3: Okay. Okay. Okay. I got it. Yeah. No, I thought

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S3: that it was amazing how Gary Gensler could not answer

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S3: answer a simple question. Like, you know, they're asking him,

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S3: is Ethereum a security or a commodity? It's got to

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S3: be one or the other. It can't be both.

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S5: Right.

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S1: And he wouldn't answer either one.

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S5: Travis? Yeah.

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S8: Talk to him.

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S5: Yeah. Hello. Hello. Hi.

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S2: Nice to see you there. Or and if you're tuning in,

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S2: listening in the podcast, you don't see there's this awesome

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S2: little Matty Junior basically.

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S6: Hanging out here on a TV.

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S5: What do you think or what.

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S3: Do you think about Bitcoin?

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S5: Yeah. Yeah. Is it is it. Is it expensive or

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S5: is it cheap? Expensive.

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S3: It's expensive.

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S5: Oh. Uh oh.

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S1: Is that a cell signal? Right there? Is that. That is.

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S5: Right there.

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S2: You heard it. Here, folks. Sell Mortimer.

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S3: All right, go watch on the go watch TV.

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S1: So, you know, we're talking about Gensler and the SEC

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S1: and him not, you know, him just being bad, as,

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S1: you know, a chairman of the SEC. And we've got

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S1: people that are calling for for his resignation. Of course,

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S1: none of these people in this administration ever resign, no

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S1: matter how disgraceful they are. They they stick around and

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S1: do more destruction.

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S5: So United States.

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S3: That's true. Yes.

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S5: Yeah.

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S1: In the US.

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S5: I've seen I've seen politicians. Well.

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S3: Well, I didn't go my way, so let me resign.

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S5: Like a little different scent.

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S2: Yeah, it's a little bit different over there with that, mate.

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S2: But what's interesting to me about Gary Gensler and.

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S6: The regulation of.

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S2: This whole thing not having used it, Janet Yellen really

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S2: not familiar all that much. There's not really used it.

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S2: From what I understand, Elizabeth Warren hasn't really used it.

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S2: But so how are they going to how do they

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S2: in all consciousness feel like they can regulate it if

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S2: they don't even know anything about it?

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S5: No, no, no.

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S3: Regulate implies that they're trying to help make sure that

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S3: it works properly and that everybody's doing it properly. There

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S3: isn't a way to regulate it. Literally, Bitcoin was invented

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S3: as a way to transact without the need of banks

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S3: and without the need of the government. And quite frankly,

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00:12:10,460 --> 00:12:13,340
S3: they can do whatever they want with it because we

227
00:12:13,340 --> 00:12:16,640
S3: now have the power to do whatever we want with it.

228
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S5: Right. I want to I.

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S1: Want to get to that in a minute and get

230
00:12:20,150 --> 00:12:22,850
S1: a take on this. But, you know, to set the

231
00:12:22,850 --> 00:12:26,240
S1: stage for it in the last few months, this year,

232
00:12:26,240 --> 00:12:28,910
S1: you know, we've had all kinds of horrible things happening

233
00:12:28,910 --> 00:12:32,930
S1: in the financial markets. And most recently, Signature and SVB

234
00:12:32,960 --> 00:12:35,990
S1: have really alerted us to what's going on with with

235
00:12:35,990 --> 00:12:41,120
S1: the banks. From your perspective, what triggered that? What caused that?

236
00:12:41,830 --> 00:12:45,910
S3: Oh, that is actually a very good question, Joel. And

237
00:12:46,240 --> 00:12:51,339
S3: I point my finger directly at the Fed and Jerome

238
00:12:51,340 --> 00:12:56,110
S3: under Jerome Powell leadership. And if you look at it, actually,

239
00:12:56,110 --> 00:13:02,170
S3: what happened was that SVB bought Bonds, long dated bonds,

240
00:13:02,170 --> 00:13:06,270
S3: meaning that they bought them in 2021. Money was flowing in.

241
00:13:06,280 --> 00:13:08,380
S3: They didn't really know what to do with that money,

242
00:13:08,380 --> 00:13:11,260
S3: but they had to park it somewhere. And the Fed

243
00:13:11,260 --> 00:13:14,140
S3: at that time was saying long term bonds are a

244
00:13:14,140 --> 00:13:16,750
S3: good investment because we're going to keep the interest rates

245
00:13:16,750 --> 00:13:20,320
S3: low for very long time. The Fed was literally telling

246
00:13:20,320 --> 00:13:24,760
S3: them this at that time, and then the Federal Reserve

247
00:13:24,760 --> 00:13:29,260
S3: switched their attitude within a three month time period from

248
00:13:29,260 --> 00:13:32,380
S3: very cheap money to very expensive money. And they raised

249
00:13:32,380 --> 00:13:35,890
S3: interest rates at one of the fastest clips in history

250
00:13:35,890 --> 00:13:40,420
S3: of the of the United States. So basically, they they

251
00:13:40,420 --> 00:13:43,809
S3: basically rubbed SVB like literally they told them you should

252
00:13:43,809 --> 00:13:46,360
S3: buy these bonds. It's a good move right now. And

253
00:13:46,360 --> 00:13:49,900
S3: then once those bonds got expensive, the yield of the

254
00:13:49,900 --> 00:13:51,610
S3: bond goes up. And when a yield of a bond

255
00:13:51,610 --> 00:13:54,820
S3: goes up, the price of the bond goes down. So

256
00:13:54,820 --> 00:13:58,360
S3: if you're holding several billion dollars worth of bonds and

257
00:13:58,360 --> 00:14:03,429
S3: the yield spikes on you, the value of those assets plummets. Right.

258
00:14:03,429 --> 00:14:08,020
S3: So basically, the it created a large hole in their

259
00:14:08,020 --> 00:14:10,990
S3: balance sheet. And when people got wind of that whole.

260
00:14:11,809 --> 00:14:13,939
S3: You know, people do what people do. They say, wait

261
00:14:13,940 --> 00:14:15,860
S3: a second. If everybody tries to cash out now, they're

262
00:14:15,860 --> 00:14:17,780
S3: not going to have enough money. This is a run

263
00:14:17,780 --> 00:14:20,570
S3: on the bank. This is basically we know the psychology

264
00:14:20,570 --> 00:14:24,080
S3: of it. Is basically this the same psychology that led

265
00:14:24,080 --> 00:14:27,320
S3: to the toilet paper crisis of COVID. Right. It's like,

266
00:14:27,410 --> 00:14:30,109
S3: you know, there's probably enough toilet paper out there, But

267
00:14:30,110 --> 00:14:33,230
S3: my dumbass neighbor. Right. He's going to think there isn't

268
00:14:33,230 --> 00:14:34,700
S3: enough toilet paper, so I better.

269
00:14:34,700 --> 00:14:37,430
S5: Run to the store before he does. Because if I don't.

270
00:14:37,610 --> 00:14:38,930
S3: I'm wiping with my hand.

271
00:14:39,680 --> 00:14:42,920
S1: You know. You know, you can use leaves like before

272
00:14:42,920 --> 00:14:45,140
S1: your hand and you know.

273
00:14:45,260 --> 00:14:46,070
S5: Plenty of them over.

274
00:14:46,070 --> 00:14:49,250
S1: T shirt. I mean, you went right to the hand.

275
00:14:49,250 --> 00:14:52,160
S1: And I'm like, come on, there's a lot of in-betweens there.

276
00:14:53,120 --> 00:14:55,670
S2: Two days in my house, I don't even use them.

277
00:14:55,670 --> 00:14:57,830
S2: I'm like, But it seems like a day seems like

278
00:14:57,830 --> 00:15:02,240
S2: a much better solution than a hand because then they

279
00:15:02,240 --> 00:15:04,250
S2: get it under your fingernails and that's just a whole

280
00:15:04,250 --> 00:15:06,920
S2: other scenario. You don't want to go there. So you

281
00:15:06,920 --> 00:15:08,810
S2: know what? I actually talk about the bonds and stuff

282
00:15:08,810 --> 00:15:11,050
S2: because we had the conversation we had tickets to are

283
00:15:11,420 --> 00:15:14,780
S2: on our show in January and I asked some questions.

284
00:15:14,780 --> 00:15:16,880
S2: He was busting my balls and he was like, No.

285
00:15:16,880 --> 00:15:19,010
S6: Man, because you want to put your money in bonds.

286
00:15:19,010 --> 00:15:22,130
S6: The the yield on them. Like like right now we

287
00:15:22,130 --> 00:15:24,830
S6: want to he we literally were hedging their bets. He

288
00:15:24,830 --> 00:15:28,440
S6: was talking about T-bills and bonds and because of the

289
00:15:28,460 --> 00:15:29,660
S6: one month bonds or the.

290
00:15:29,660 --> 00:15:32,810
S2: Whatever because there was value in that and he looked

291
00:15:32,810 --> 00:15:34,370
S2: at me like I was crazy and I was like, dude,

292
00:15:34,370 --> 00:15:34,880
S2: we're like near.

293
00:15:34,880 --> 00:15:36,380
S6: The like, the dollar.

294
00:15:36,410 --> 00:15:37,970
S2: Looks to me like it's near the end of the

295
00:15:37,970 --> 00:15:41,060
S2: lifecycle of paper money, like the world economy is teetering.

296
00:15:41,060 --> 00:15:43,310
S6: We just had, you know, the UK.

297
00:15:43,310 --> 00:15:46,460
S2: The Bank of England, saying that they are insolvent, right?

298
00:15:46,460 --> 00:15:48,350
S2: And there's some crazy stuff going down.

299
00:15:48,350 --> 00:15:49,400
S6: And like what? You know, he.

300
00:15:49,400 --> 00:15:50,210
S2: Was like, Oh.

301
00:15:50,480 --> 00:15:51,470
S6: Bonds or.

302
00:15:51,470 --> 00:15:52,880
S2: Whatever. And I was like, Really?

303
00:15:52,880 --> 00:15:54,590
S6: And then he acted like I was an idiot. And so.

304
00:15:54,590 --> 00:15:56,840
S2: I was like, okay, well, we were sitting face to.

305
00:15:56,840 --> 00:15:58,910
S6: Face, too, and I was like, And then here we.

306
00:15:58,910 --> 00:16:02,330
S2: Are. We've not we've not really communicated with him after

307
00:16:02,330 --> 00:16:03,770
S2: the fact and be like, Well, SVB.

308
00:16:03,770 --> 00:16:06,350
S6: Just shut the bed, yo. And they were doing the

309
00:16:06,350 --> 00:16:08,060
S6: bond thing, like, you know.

310
00:16:09,110 --> 00:16:10,340
S2: But yeah, it was, it was a.

311
00:16:10,340 --> 00:16:11,020
S6: Couple of months before.

312
00:16:11,420 --> 00:16:16,010
S2: VB But it wasn't, it wasn't the, they weren't, I

313
00:16:16,010 --> 00:16:17,900
S2: think they weren't, they were, he was, he was talking

314
00:16:17,900 --> 00:16:20,330
S2: to short one month ones or the three month ones,

315
00:16:20,330 --> 00:16:21,860
S2: not the long term ones.

316
00:16:21,860 --> 00:16:22,970
S6: So maybe the yield.

317
00:16:22,970 --> 00:16:25,490
S2: Is a little different on those. But I was just

318
00:16:25,490 --> 00:16:27,830
S2: like it just man, I just never had faith in

319
00:16:27,830 --> 00:16:30,650
S2: this system since I learned about the corruption in July

320
00:16:30,650 --> 00:16:34,280
S2: of 2000 when I learned that paper money is fractional

321
00:16:34,280 --> 00:16:35,660
S2: ownership and I thought.

322
00:16:35,660 --> 00:16:36,380
S6: The stock market.

323
00:16:36,380 --> 00:16:39,109
S2: Was a little wonky. I thought things are going to

324
00:16:39,110 --> 00:16:40,700
S2: be start rug pull. I just learned.

325
00:16:40,700 --> 00:16:42,680
S6: I was red pilled a little too early.

326
00:16:42,680 --> 00:16:43,370
S5: But let me give you.

327
00:16:43,370 --> 00:16:48,950
S3: Some some some much needed confirmation bias. Travis When you're

328
00:16:48,950 --> 00:16:51,470
S3: buying a bond, essentially what you're doing is you're lending

329
00:16:51,470 --> 00:16:57,180
S3: money to the government. Um. Yeah. I don't know if

330
00:16:57,180 --> 00:17:00,300
S3: you are familiar with the government. They're not very good

331
00:17:00,300 --> 00:17:01,620
S3: with money. I don't.

332
00:17:01,620 --> 00:17:03,150
S2: Know if I heard about that or not, but it

333
00:17:03,150 --> 00:17:03,960
S2: seems to me like.

334
00:17:04,020 --> 00:17:05,040
S5: Literally more than.

335
00:17:05,040 --> 00:17:07,260
S3: $30 trillion in debt. And it's just.

336
00:17:07,380 --> 00:17:07,950
S6: How how.

337
00:17:07,950 --> 00:17:09,159
S2: Is it that you take every.

338
00:17:09,330 --> 00:17:10,169
S6: 40% of.

339
00:17:10,170 --> 00:17:14,370
S2: Everyone's salaries and you're still 30 trillion in debt? Like. Yeah.

340
00:17:14,410 --> 00:17:16,290
S2: Seems like the government needs a money manager.

341
00:17:16,290 --> 00:17:18,450
S5: Better respect to.

342
00:17:18,510 --> 00:17:20,699
S3: Tica, I would not buy bonds if you put a

343
00:17:20,700 --> 00:17:22,590
S3: gun to my head. I don't know what the government

344
00:17:22,590 --> 00:17:24,720
S3: is doing with that money. I don't know where it's going.

345
00:17:24,869 --> 00:17:28,080
S3: And I'm. Yeah, like you mentioned, I'm, I'm mad enough

346
00:17:28,080 --> 00:17:31,320
S3: of that. I have to pay taxes. So no, giving

347
00:17:31,320 --> 00:17:34,530
S3: them more money. It doesn't doesn't really compute for me.

348
00:17:35,250 --> 00:17:38,760
S3: Think about this. The president of the United States is

349
00:17:38,760 --> 00:17:41,850
S3: in power for 4 to 8 years. He is he

350
00:17:41,850 --> 00:17:45,600
S3: is able to buy to borrow money for 50 years

351
00:17:45,600 --> 00:17:49,500
S3: or more. His direct incentive is to borrow as much

352
00:17:49,500 --> 00:17:51,689
S3: money that he can without worrying about how it's going

353
00:17:51,690 --> 00:17:52,590
S3: to be paid back.

354
00:17:52,710 --> 00:17:53,310
S5: Right.

355
00:17:53,550 --> 00:17:55,619
S3: This is a system you want to lend money to.

356
00:17:55,830 --> 00:17:56,399
S3: Not me.

357
00:17:57,030 --> 00:17:57,720
S5: Right.

358
00:17:57,990 --> 00:18:01,410
S3: That's what I'm out like. Literally, there are a million

359
00:18:01,410 --> 00:18:02,640
S3: better investments in that.

360
00:18:03,240 --> 00:18:09,510
S1: So the dollar is struggling. The US government is struggling

361
00:18:09,510 --> 00:18:14,580
S1: to have regulation around crypto. They're scared of crypto. You've

362
00:18:14,580 --> 00:18:17,790
S1: got some predictions about what's coming next and I want

363
00:18:17,790 --> 00:18:20,100
S1: to want to take them one at a time as

364
00:18:20,100 --> 00:18:22,650
S1: I'm reading them here in the written word. Let's just

365
00:18:22,650 --> 00:18:26,910
S1: tackle these. The first one is that Defi will completely

366
00:18:26,910 --> 00:18:33,720
S1: replace traditional finance. Isn't this opium? Like there's so much

367
00:18:33,720 --> 00:18:37,260
S1: power in the governments and the Fed? Isn't this opium?

368
00:18:37,680 --> 00:18:39,420
S5: No, no. See, Joel.

369
00:18:39,420 --> 00:18:41,669
S3: And Travis, you guys live in a bubble called the

370
00:18:41,670 --> 00:18:45,360
S3: United States. Yeah. I mean, even Puerto Rico is part

371
00:18:45,359 --> 00:18:48,030
S3: of that bubble. There's a whole nother world out there.

372
00:18:48,030 --> 00:18:53,210
S3: So the United States is regulatory, that regulatory unfriendly ness

373
00:18:53,280 --> 00:18:55,710
S3: or harshness or however you want to call it, their

374
00:18:55,710 --> 00:18:58,139
S3: uncertainty that they're doing on purpose in order to try

375
00:18:58,140 --> 00:19:02,070
S3: and squash it. That is not hurting crypto. That's hurting

376
00:19:02,070 --> 00:19:02,820
S3: the dollar.

377
00:19:03,820 --> 00:19:04,960
S5: Right. This is.

378
00:19:04,960 --> 00:19:07,449
S3: I mean, I don't see any other way to see it.

379
00:19:07,450 --> 00:19:09,870
S3: The dollar is supposed to be a global reserve currency.

380
00:19:09,880 --> 00:19:13,750
S3: They've weaponized the dollar by kicking Russia off of the system.

381
00:19:13,750 --> 00:19:17,350
S3: That hurts Russia in the temporary. But it also hurts

382
00:19:17,350 --> 00:19:20,290
S3: the dollar because the dollar is no longer a global currency.

383
00:19:20,290 --> 00:19:23,620
S3: I can't transact from the United States to Iran in

384
00:19:23,619 --> 00:19:26,080
S3: dollars even if I really want to. Even if I

385
00:19:26,080 --> 00:19:28,629
S3: have a relative there, even if I have want to

386
00:19:28,630 --> 00:19:32,500
S3: support somebody who's protesting the Iranian government, I cannot send

387
00:19:32,500 --> 00:19:35,920
S3: them money, literally not with US dollars, but can send

388
00:19:35,920 --> 00:19:40,629
S3: them Bitcoin. Right. So they have they basically harmed the

389
00:19:40,630 --> 00:19:44,740
S3: dollar's utility by kicking Russia off the system, by kicking

390
00:19:44,740 --> 00:19:48,010
S3: Iran off the system and several other countries by fighting,

391
00:19:48,010 --> 00:19:53,169
S3: having a silly spat with China. Um, a potentially a

392
00:19:53,170 --> 00:19:54,700
S3: proxy war. I don't know if you want to even

393
00:19:54,700 --> 00:19:58,570
S3: go there, but now this war with crypto, I don't

394
00:19:58,570 --> 00:20:01,449
S3: know if you know this, but 45% of Nigerians are

395
00:20:01,450 --> 00:20:07,899
S3: already using crypto. I mean, adoption rates are 3,040% in

396
00:20:07,900 --> 00:20:11,260
S3: a lot of developing countries. They've just basically cut off

397
00:20:11,260 --> 00:20:13,750
S3: all of that business and all of that transaction ability

398
00:20:13,750 --> 00:20:16,570
S3: with the US dollar, that just limits the dollar's utility

399
00:20:16,570 --> 00:20:19,330
S3: even further. It doesn't limit crypto because crypto is borderless.

400
00:20:19,690 --> 00:20:21,100
S2: Right? That's one I think so.

401
00:20:21,100 --> 00:20:22,119
S6: My girl is in is.

402
00:20:22,119 --> 00:20:25,240
S2: In Russia so I can't send her how money like

403
00:20:25,240 --> 00:20:27,370
S2: I might be used to in the past. But what

404
00:20:27,369 --> 00:20:29,920
S2: I can do is I can send Ethereum or I can.

405
00:20:30,070 --> 00:20:32,800
S2: So they still have access to Binance over there. That's

406
00:20:32,800 --> 00:20:35,530
S2: really the only solution. They don't have access to MoneyGram,

407
00:20:35,530 --> 00:20:39,159
S2: they don't have access to pay sand, PayPal, any of

408
00:20:39,160 --> 00:20:41,170
S2: that other stuff. The only way you can get money

409
00:20:41,170 --> 00:20:43,419
S2: in and out of there now is with crypto. And

410
00:20:43,420 --> 00:20:47,860
S2: so that right there is an interesting challenge for for them. However,

411
00:20:47,859 --> 00:20:52,630
S2: whenever the the war started in in Ukraine, I was

412
00:20:52,630 --> 00:20:55,780
S2: like okay wow the value of the of the ruble

413
00:20:55,780 --> 00:20:56,680
S2: plummeted and.

414
00:20:56,680 --> 00:20:59,650
S6: It was like $1 was 120 rubles.

415
00:20:59,650 --> 00:21:03,100
S2: Now $1 is like 50 something rubles. I want at

416
00:21:03,100 --> 00:21:04,180
S2: that moment like dude, let.

417
00:21:04,180 --> 00:21:04,600
S6: Me load.

418
00:21:04,600 --> 00:21:06,609
S2: Up on, you know, digital.

419
00:21:06,609 --> 00:21:08,140
S6: Rubles. How do I how.

420
00:21:08,140 --> 00:21:08,860
S2: Do I how do.

421
00:21:08,859 --> 00:21:10,390
S6: I get ruble stable coins.

422
00:21:10,390 --> 00:21:10,810
S2: Right?

423
00:21:10,810 --> 00:21:11,500
S6: How do I.

424
00:21:11,500 --> 00:21:13,869
S2: It's a that's where there's a problem is, is that.

425
00:21:13,869 --> 00:21:19,270
S6: I can only get stablecoins in US dollar USD Usdc.

426
00:21:19,300 --> 00:21:20,380
S6: Where's the US?

427
00:21:20,590 --> 00:21:22,090
S2: Where's the euro?

428
00:21:22,090 --> 00:21:26,530
S6: D Where's the euro? C Where's the yuan? T Where's

429
00:21:26,530 --> 00:21:27,280
S6: the ruble?

430
00:21:27,280 --> 00:21:30,920
S5: C Like looking up or something?

431
00:21:31,420 --> 00:21:34,090
S2: I need these, you know what I mean? Like, it's

432
00:21:34,090 --> 00:21:35,949
S2: almost like it would seem to me that.

433
00:21:35,950 --> 00:21:39,340
S6: A stablecoin would be even more stable if it was a.

434
00:21:39,340 --> 00:21:42,639
S2: Basket of currencies and it was like there's a little

435
00:21:42,640 --> 00:21:44,410
S2: bit of gold, there's a little bit of dollar, there's

436
00:21:44,410 --> 00:21:45,670
S2: a little bit of yuan, there's a little.

437
00:21:45,700 --> 00:21:47,080
S6: Bit of rubles, there's a little bit.

438
00:21:47,080 --> 00:21:48,790
S2: Of, you know, whatever.

439
00:21:49,330 --> 00:21:50,710
S6: Rupees like.

440
00:21:50,710 --> 00:21:51,310
S2: BRICS.

441
00:21:51,310 --> 00:21:52,420
S6: Currencies, like.

442
00:21:52,420 --> 00:21:54,520
S2: What is the best sort of hedge.

443
00:21:54,520 --> 00:21:54,970
S6: Now?

444
00:21:54,970 --> 00:21:56,920
S2: Because we're like, Oh, we're going to just put them

445
00:21:56,920 --> 00:21:58,300
S2: in your stablecoin and you're.

446
00:21:58,300 --> 00:21:58,990
S6: Like, Then your.

447
00:21:58,990 --> 00:22:00,040
S2: Stablecoin happens.

448
00:22:00,040 --> 00:22:01,359
S6: To what happened to Usdc?

449
00:22:01,359 --> 00:22:04,420
S2: And oh, Circle has too much, you know.

450
00:22:05,410 --> 00:22:08,080
S6: Doesn't have enough liquidity in SVB Bank.

451
00:22:08,080 --> 00:22:09,520
S2: And so now that's going down.

452
00:22:09,550 --> 00:22:11,140
S6: So well you don't want to keep it there. What

453
00:22:11,140 --> 00:22:12,340
S6: happens if that goes away?

454
00:22:12,340 --> 00:22:14,470
S2: Oh, put it in Bitcoin. Well, what happens if the

455
00:22:14,470 --> 00:22:17,140
S2: price of bitcoin goes down 1,520%? Like it's.

456
00:22:17,140 --> 00:22:17,470
S6: Like.

457
00:22:17,470 --> 00:22:20,110
S2: Like really? It's a weird time to try to even

458
00:22:20,109 --> 00:22:22,000
S2: figure out how to hedge your bet on some of

459
00:22:22,000 --> 00:22:22,689
S2: this stuff.

460
00:22:23,050 --> 00:22:27,280
S3: Yeah, you're absolutely right. I mean, fiat currencies are intentionally

461
00:22:27,280 --> 00:22:31,359
S3: designed to lose value over time. I mean, whenever somebody's

462
00:22:31,359 --> 00:22:35,830
S3: trading the forex market or foreign exchange, they're basically betting

463
00:22:35,830 --> 00:22:39,070
S3: on which one is going to fall the fastest. And

464
00:22:39,070 --> 00:22:40,750
S3: it's it's a weird game.

465
00:22:40,900 --> 00:22:42,430
S5: World, huh? Like all the countries.

466
00:22:42,609 --> 00:22:43,169
S6: Is going to stay all.

467
00:22:43,180 --> 00:22:45,010
S2: The most. Let's go. Yeah.

468
00:22:45,430 --> 00:22:49,449
S3: The countries are incentivized to devalue their currency because it

469
00:22:49,450 --> 00:22:53,290
S3: promotes exports. Meaning, you know, if you are selling, if

470
00:22:53,290 --> 00:22:56,260
S3: you're Switzerland and you're selling watches and you know the

471
00:22:56,260 --> 00:23:00,430
S3: franc goes down, your watches are suddenly cheaper elsewhere. Right?

472
00:23:00,820 --> 00:23:03,340
S3: It also devalues the debt that they have in their

473
00:23:03,340 --> 00:23:06,910
S3: own currency. So countries are incentivized specifically, they don't even

474
00:23:06,910 --> 00:23:09,220
S3: try to hide it. They call it inflation. I mean,

475
00:23:09,220 --> 00:23:12,879
S3: it's we believe that inflation should be 2%. Why you

476
00:23:12,880 --> 00:23:15,639
S3: want your value of your currency to go down. So, yes,

477
00:23:16,030 --> 00:23:19,150
S3: Bitcoin is designed to go up in value over time.

478
00:23:19,150 --> 00:23:22,540
S3: So if you're talking about saving, I mean, obviously it's

479
00:23:22,540 --> 00:23:24,609
S3: volatile in the short term, but if you're thinking about

480
00:23:24,609 --> 00:23:27,280
S3: a period of anything longer than 3 or 4 years,

481
00:23:27,820 --> 00:23:30,880
S3: I think that that the the choice is obvious over there.

482
00:23:30,880 --> 00:23:34,690
S3: But as far as, you know, decentralized finance, which was

483
00:23:34,690 --> 00:23:38,530
S3: I mean, kind of the topic at hand, um, I

484
00:23:38,530 --> 00:23:47,650
S3: believe that um, the Celsius and have have highlighted something

485
00:23:47,650 --> 00:23:51,580
S3: seriously wrong with the way that capital markets work. And

486
00:23:51,580 --> 00:23:53,200
S3: it's not only them. I mean, we can name like

487
00:23:53,200 --> 00:23:58,060
S3: Bernie Madoff, we can name like Deutsche Bank and Credit Suisse,

488
00:23:58,060 --> 00:24:00,070
S3: and all of a sudden, like just as they're in trouble,

489
00:24:00,070 --> 00:24:03,159
S3: they get hit with these massive fines. Right? They're always.

490
00:24:03,170 --> 00:24:07,520
S3: Doing shady shit and with decentralized finance mean for the

491
00:24:07,520 --> 00:24:11,030
S3: first time we can actually see everything on the blockchain.

492
00:24:11,030 --> 00:24:12,470
S3: We can see all of that. We can trace all

493
00:24:12,470 --> 00:24:15,139
S3: the transactions, even if we don't know who they belong to,

494
00:24:15,140 --> 00:24:17,390
S3: and we can see where the money is going, how

495
00:24:17,390 --> 00:24:20,720
S3: the contract, the smart contract is designed to work, right?

496
00:24:20,720 --> 00:24:23,449
S3: Nobody can trick the blockchain and funnel money out the

497
00:24:23,450 --> 00:24:26,450
S3: back end without some auditor going, Hey, wait a second,

498
00:24:26,450 --> 00:24:29,119
S3: where the hell is that money going? Right? So yes,

499
00:24:29,119 --> 00:24:31,790
S3: it's experimental in the beginning because you're playing with new

500
00:24:31,790 --> 00:24:37,220
S3: economic models. Things get broken, but over time, those smart

501
00:24:37,220 --> 00:24:40,070
S3: contracts get battle tested. And every time that a hack

502
00:24:40,070 --> 00:24:43,939
S3: or a leak or something happens, the system gets stronger.

503
00:24:43,940 --> 00:24:48,649
S3: Right now, it's not necessarily stronger than a traditional financial bank.

504
00:24:48,650 --> 00:24:51,050
S3: I think that if you're holding a large amount of money,

505
00:24:51,050 --> 00:24:53,209
S3: I personally at this point would not hold more than

506
00:24:53,210 --> 00:24:57,260
S3: $100,000 in Stablecoins. It makes no sense. You have so

507
00:24:57,260 --> 00:25:01,790
S3: many risks and none of the extra returns that you would.

508
00:25:02,000 --> 00:25:03,379
S5: Buy in financial assets.

509
00:25:03,380 --> 00:25:05,870
S1: We often wonder if the domino is going to fall

510
00:25:05,869 --> 00:25:09,980
S1: on Usdc or usdc. So we just had a guest

511
00:25:09,980 --> 00:25:12,679
S1: recently on the show, our friend Clinton Donnelly, who's a

512
00:25:12,680 --> 00:25:22,460
S1: crypto tax accountant and lawyer from, you know, understanding the regulation,

513
00:25:22,460 --> 00:25:25,700
S1: you know, that's going down. And his take on this

514
00:25:25,700 --> 00:25:29,210
S1: is that the US is not going to lose dominance

515
00:25:29,210 --> 00:25:31,880
S1: because the US is a bully. They've put laws in

516
00:25:32,119 --> 00:25:35,270
S1: place that make all the rest of the world report

517
00:25:35,270 --> 00:25:39,200
S1: back on what US citizens are doing and that they're

518
00:25:39,200 --> 00:25:43,460
S1: doing everything they're doing to crypto is not to drive

519
00:25:43,460 --> 00:25:47,540
S1: crypto out, but to put it under the umbrella of

520
00:25:47,540 --> 00:25:52,040
S1: the brokerages that exist. The reason that they're not creating regulation,

521
00:25:52,040 --> 00:25:55,790
S1: according to Clinton is because they're instead going to enforcement

522
00:25:55,790 --> 00:26:00,080
S1: and that they are going to treat crypto like securities

523
00:26:00,080 --> 00:26:04,040
S1: and that you will go to Schwab or Fidelity or

524
00:26:04,040 --> 00:26:07,070
S1: wherever to buy your Bitcoin, Ethereum or any other coins,

525
00:26:07,070 --> 00:26:09,409
S1: and they want all of the money from the world

526
00:26:09,410 --> 00:26:15,560
S1: pouring into those brokerages in the US. They're actually encouraging crypto.

527
00:26:15,560 --> 00:26:18,050
S1: They just want it done their way where it's under

528
00:26:18,050 --> 00:26:21,350
S1: their control. But you say that the US dollar will

529
00:26:21,350 --> 00:26:26,300
S1: not remain the global reserve currency, so make those jive.

530
00:26:26,950 --> 00:26:28,840
S3: I mean, have you not seen the movie Nerds.

531
00:26:29,619 --> 00:26:30,100
S5: Like.

532
00:26:30,310 --> 00:26:32,440
S3: Or any other movie where there's a bully that comes

533
00:26:32,440 --> 00:26:35,350
S3: out at the beginning? We know how this ends. There's

534
00:26:35,350 --> 00:26:38,139
S3: one bully and there's the rest of the class. Like

535
00:26:38,140 --> 00:26:40,990
S3: literally at some point they're just going to band together

536
00:26:40,990 --> 00:26:44,020
S3: and say, We don't need the bully anymore and go

537
00:26:44,020 --> 00:26:47,080
S3: play somewhere else or get their revenge because they're smarter

538
00:26:47,080 --> 00:26:50,560
S3: than him. Um, not that the people in the US

539
00:26:50,560 --> 00:26:54,530
S3: government are stupid. Gary Gensler is in no way a fool. Um,

540
00:26:54,580 --> 00:26:57,730
S3: nor was Jay Clayton before him. But there's a revolving door.

541
00:26:57,730 --> 00:27:00,790
S3: These type of people that are in power, they're always

542
00:27:00,790 --> 00:27:02,980
S3: thinking about what are they going to do next? He's

543
00:27:02,980 --> 00:27:05,140
S3: not thinking about his chair right now. He's thinking about

544
00:27:05,140 --> 00:27:07,750
S3: what's his next job, Right? He's thinking about how he's

545
00:27:07,750 --> 00:27:13,419
S3: building his his application. Jay Clayton, the previous the previous chairman.

546
00:27:13,430 --> 00:27:14,949
S3: You know what he does now? You know what he

547
00:27:14,950 --> 00:27:17,680
S3: did like as of several months after he quit or

548
00:27:17,680 --> 00:27:19,010
S3: he was fired from the SEC.

549
00:27:19,359 --> 00:27:21,730
S5: High Dollar Company.

550
00:27:22,300 --> 00:27:26,230
S3: And Web3 investment firm, literally as soon as he walked out.

551
00:27:26,230 --> 00:27:29,889
S3: He's like, hey, look, look at my qualifications. Amy. All right.

552
00:27:29,890 --> 00:27:33,430
S3: So these people's incentives are not aligned for the good

553
00:27:33,430 --> 00:27:34,899
S3: of the people. They're not aligned for the good of

554
00:27:34,900 --> 00:27:39,250
S3: the nation. They're aligned for themselves. They're self they're selfish

555
00:27:39,250 --> 00:27:44,320
S3: actors in a grander system. And they can't possibly they

556
00:27:44,320 --> 00:27:48,910
S3: can't possibly work together towards a common goal. You know,

557
00:27:48,910 --> 00:27:51,520
S3: people say Gary Gensler and Elizabeth Warren, but look at

558
00:27:51,520 --> 00:27:54,430
S3: like the people who are standing up for for crypto

559
00:27:54,430 --> 00:27:57,640
S3: like Patrick McHenry and Tom Emmer. Right? I mean, we

560
00:27:57,640 --> 00:28:01,119
S3: all we saw them play in Gary Gensler live. So.

561
00:28:01,570 --> 00:28:02,860
S5: Um, you know, they're.

562
00:28:03,000 --> 00:28:06,790
S3: The at especially within the United States, the political divide

563
00:28:06,790 --> 00:28:09,459
S3: keeps getting wider and wider. It's going to be harder

564
00:28:09,460 --> 00:28:12,910
S3: and harder for them to get together and actually create

565
00:28:12,910 --> 00:28:16,810
S3: meaningful legislation. The only thing that Gary Gensler can do

566
00:28:16,840 --> 00:28:20,230
S3: is stall. Eventually he'll be out whether he's kicked out

567
00:28:20,230 --> 00:28:23,620
S3: or he's quits or he's just his term is over.

568
00:28:23,619 --> 00:28:26,890
S3: There will be somebody else and that other person might

569
00:28:26,890 --> 00:28:28,659
S3: continue his line of thought, but it might be in

570
00:28:28,660 --> 00:28:31,330
S3: their best interest to go along with crypto. We'll see

571
00:28:31,330 --> 00:28:34,930
S3: when that happens. In the meantime, there's a you know,

572
00:28:35,230 --> 00:28:37,330
S3: I want to I want to quote Lou Kerner, who's

573
00:28:37,330 --> 00:28:41,980
S3: the head crypto analyst at Quantum Economics. He says, I

574
00:28:41,980 --> 00:28:45,190
S3: try to spend about as much time thinking about regulators

575
00:28:45,190 --> 00:28:47,620
S3: as they think as they spend thinking about me.

576
00:28:48,900 --> 00:28:51,870
S2: That's great. That's great. So we've been really trying to

577
00:28:51,870 --> 00:28:54,270
S2: hedge our bets and trying to figure out what is

578
00:28:54,270 --> 00:28:56,790
S2: the best way to sort of hedge our bets as

579
00:28:56,790 --> 00:28:59,910
S2: we are, you know, in the bear market moving into

580
00:28:59,910 --> 00:29:01,530
S2: the bull market. And I got to give it to

581
00:29:01,530 --> 00:29:03,930
S2: Joel because Joel did really good. He bought a bunch

582
00:29:03,930 --> 00:29:04,530
S2: of eggs.

583
00:29:04,530 --> 00:29:06,660
S6: At $0.06 and then he sold.

584
00:29:06,660 --> 00:29:09,870
S2: Him at $0.60. Dude, he ten eggs. His money.

585
00:29:11,160 --> 00:29:12,280
S7: Was excellent.

586
00:29:12,920 --> 00:29:15,780
S5: That was what was. Is this cold storage or what?

587
00:29:15,810 --> 00:29:18,060
S2: Well, they're from 20, 20 eggs. They're not.

588
00:29:18,060 --> 00:29:19,590
S6: So good. But I mean.

589
00:29:19,670 --> 00:29:22,950
S2: They don't know. You can't tell when you're buying them, like.

590
00:29:23,040 --> 00:29:23,910
S5: Right.

591
00:29:25,050 --> 00:29:27,060
S2: You can't tell until you open it up and you're like,

592
00:29:27,060 --> 00:29:28,410
S2: why is this brown?

593
00:29:29,300 --> 00:29:30,780
S5: They were worth at least 50.

594
00:29:30,990 --> 00:29:32,700
S3: When you threw them at your neighbor's house, right?

595
00:29:33,630 --> 00:29:36,270
S2: You know, I'm looking back at all of those Halloweens

596
00:29:36,270 --> 00:29:38,250
S2: where I was egging people's houses and I was like,

597
00:29:38,250 --> 00:29:42,120
S2: This was not cost effective analysis where it was quantum economics.

598
00:29:42,120 --> 00:29:43,590
S6: Back in those days, they.

599
00:29:43,590 --> 00:29:45,930
S2: Were not around. So wait.

600
00:29:45,930 --> 00:29:48,300
S1: Did you just miss the opportunity to say quantum.

601
00:29:48,390 --> 00:29:50,470
S7: Economics? I kind of did that.

602
00:29:50,520 --> 00:29:53,550
S2: I kind of said economics, but it's so kind of

603
00:29:53,550 --> 00:29:56,400
S2: sounded like, yeah. So yeah, this this is a good time.

604
00:29:56,400 --> 00:29:58,500
S2: This stuff's going on right now. So. So putting on.

605
00:29:58,500 --> 00:30:00,870
S6: Your hat, that doesn't it's not the.

606
00:30:00,870 --> 00:30:02,760
S2: Hat that's telling us the future because you don't see

607
00:30:02,760 --> 00:30:06,300
S2: the future. You're not Nostradamus, You're the guy who's going

608
00:30:06,300 --> 00:30:09,150
S2: to say, well, maybe this is that. Maybe. So where

609
00:30:09,150 --> 00:30:12,060
S2: are we in the grand scheme of things now? Like is.

610
00:30:12,060 --> 00:30:13,830
S6: This looks to us like this.

611
00:30:13,830 --> 00:30:15,000
S2: Chart, what it's doing.

612
00:30:15,000 --> 00:30:16,650
S6: Right now, It's looking pretty.

613
00:30:16,650 --> 00:30:17,280
S2: Healthy.

614
00:30:17,980 --> 00:30:19,660
S5: It is, but also it.

615
00:30:19,660 --> 00:30:23,650
S3: Is looking, as my son said, over overbought or he

616
00:30:23,650 --> 00:30:28,180
S3: said expensive. Okay. Um, literally, I mean if we zoom

617
00:30:28,180 --> 00:30:30,760
S3: way the flip out right and think about the block

618
00:30:30,760 --> 00:30:34,150
S3: having in a year from now or so. Right. And

619
00:30:34,150 --> 00:30:35,950
S3: then we if we try to flip the log scale,

620
00:30:35,950 --> 00:30:39,430
S3: obviously the long term trajectory is upward. And especially if

621
00:30:39,430 --> 00:30:42,670
S3: we think about digital scarcity and all of those type

622
00:30:42,670 --> 00:30:47,500
S3: of things fundamentally. However, um, this is a daily chart

623
00:30:47,500 --> 00:30:51,280
S3: where each candlestick is one day, right? The blue line

624
00:30:51,280 --> 00:30:54,490
S3: here is the average price over the last 200 days

625
00:30:54,490 --> 00:30:57,400
S3: and the red line is the average price over the

626
00:30:57,400 --> 00:31:00,910
S3: last 50 days. So basically we can see that we're

627
00:31:00,910 --> 00:31:05,560
S3: extremely high over the 200 day average. It is expensive

628
00:31:05,560 --> 00:31:06,820
S3: right now. Do you know when it.

629
00:31:06,830 --> 00:31:09,250
S2: Crosses that's a good time to buy, right? That's like, oh,

630
00:31:09,250 --> 00:31:10,840
S2: you can see where it crossed right there.

631
00:31:10,840 --> 00:31:14,110
S3: You're picking up on the Golden Cross right over here,

632
00:31:14,110 --> 00:31:17,170
S3: which is short term moves over the long term, which

633
00:31:17,170 --> 00:31:20,620
S3: is the opposite of a death cross which happened over here.

634
00:31:20,620 --> 00:31:23,020
S3: And we've been going down pretty much in the bear market.

635
00:31:23,020 --> 00:31:27,310
S3: So this is a very bullish indicator right over here.

636
00:31:27,310 --> 00:31:32,380
S3: And it has indeed played out. However, mean reversion to

637
00:31:32,380 --> 00:31:36,640
S3: the mean would probably not be unexpected if we try

638
00:31:36,640 --> 00:31:38,620
S3: to draw like a line of support, even if we

639
00:31:38,620 --> 00:31:42,460
S3: assume like, let's disregard this one over here, right? And

640
00:31:42,460 --> 00:31:47,110
S3: then like, you know, create a channel, right, upward channel.

641
00:31:47,110 --> 00:31:50,170
S3: But this is a very aggressive upward channel. I think

642
00:31:50,170 --> 00:31:53,200
S3: that if we kind of do take into account like

643
00:31:53,200 --> 00:31:54,760
S3: we have a kind of a wider channel here that

644
00:31:54,760 --> 00:31:57,970
S3: we could say this this kind of makes sense. Like

645
00:31:57,970 --> 00:32:02,920
S3: a reversion over here would not be surprising. 25 K

646
00:32:02,980 --> 00:32:06,340
S3: or whatnot. Right? Or even, you know, touch, touch the

647
00:32:06,340 --> 00:32:10,270
S3: red line, possibly come towards the blue line, wait around

648
00:32:10,270 --> 00:32:12,760
S3: here a little bit, let the blue line catch up,

649
00:32:12,760 --> 00:32:15,820
S3: something like that. But obviously, I mean, these type of

650
00:32:15,820 --> 00:32:19,360
S3: things they do, they mean this is technical analysis.

651
00:32:19,360 --> 00:32:22,420
S1: Yeah. And for those of you listening, you might not

652
00:32:22,420 --> 00:32:24,310
S1: have any idea of what he's talking about. You might

653
00:32:24,310 --> 00:32:26,590
S1: want to go over to YouTube, Rumble or Odyssey to

654
00:32:26,590 --> 00:32:28,600
S1: see the video version of this so you can see.

655
00:32:28,720 --> 00:32:29,110
S7: But Joel.

656
00:32:29,110 --> 00:32:32,860
S2: I want to ask this, is that what was it, Marty,

657
00:32:32,860 --> 00:32:35,740
S2: that you saw on that one day where Joel said, oh,

658
00:32:35,740 --> 00:32:38,110
S2: it's 28, it's going to be 33 by Thursday? And

659
00:32:38,110 --> 00:32:40,150
S2: that was on a monday. What were you looking at

660
00:32:40,150 --> 00:32:42,970
S2: that show that what was the signal that made you go, Oh, damn.

661
00:32:43,720 --> 00:32:46,390
S5: Um, so it was just it was just flattening.

662
00:32:46,390 --> 00:32:50,590
S3: Out, right? It was. So we have in the technical analysis,

663
00:32:50,590 --> 00:32:55,480
S3: when the support line, which is the lower line. And

664
00:32:55,480 --> 00:32:59,020
S3: the resistance line, which is the upper line. When they

665
00:32:59,020 --> 00:33:01,720
S3: start converging, right, you have a range which is where

666
00:33:01,720 --> 00:33:04,840
S3: you have a clear high and a clear low. And

667
00:33:04,840 --> 00:33:07,480
S3: when when that happens and the market starts to get

668
00:33:07,480 --> 00:33:09,550
S3: that in their head, they start going, okay, the average

669
00:33:09,550 --> 00:33:13,300
S3: price is somewhere in the middle. So the buyers start

670
00:33:13,300 --> 00:33:17,110
S3: to accept a lower and lower price and the sellers

671
00:33:17,290 --> 00:33:20,770
S3: start to accept a higher and higher price or vice versa. Actually,

672
00:33:20,770 --> 00:33:23,500
S3: I think my brain just farted, but the idea is

673
00:33:23,710 --> 00:33:26,800
S3: that it becomes a triangle, it turns into a pennant,

674
00:33:26,800 --> 00:33:31,210
S3: and then the pennant has to break eventually, right? It

675
00:33:31,210 --> 00:33:33,400
S3: has to come to the point of the triangle and

676
00:33:33,400 --> 00:33:35,469
S3: break out. And what I was looking at was it

677
00:33:35,470 --> 00:33:39,130
S3: was completely flat. Flat or it was flattening for three weeks.

678
00:33:39,130 --> 00:33:41,770
S3: It just got to the point where it got completely flat.

679
00:33:41,920 --> 00:33:43,990
S3: It started to move a little bit and said, okay,

680
00:33:43,990 --> 00:33:46,900
S3: now's a good time to to make one of those

681
00:33:46,900 --> 00:33:50,230
S3: price calls. And it worked out in my favor.

682
00:33:50,230 --> 00:33:50,950
S5: Yeah, it went.

683
00:33:50,950 --> 00:33:52,360
S1: It didn't hit 33. Some of.

684
00:33:52,360 --> 00:33:52,960
S5: Them don't.

685
00:33:53,620 --> 00:33:55,840
S1: It didn't hit 33, but it did go pop, pop.

686
00:33:55,840 --> 00:33:58,480
S1: So as long as we're talking price, let's let's talk

687
00:33:58,480 --> 00:34:02,890
S1: price for, you know, a year now or more, people

688
00:34:02,890 --> 00:34:04,720
S1: have been saying, oh, Bitcoin is going to go down

689
00:34:04,720 --> 00:34:09,069
S1: to 10 or 12. So let's go ahead. 2.2, two

690
00:34:09,070 --> 00:34:12,790
S1: questions in this one. Question one, is that never going

691
00:34:12,790 --> 00:34:17,620
S1: to happen now in two? What do you see us

692
00:34:17,620 --> 00:34:20,710
S1: hitting for a high on the next bull run that

693
00:34:20,710 --> 00:34:26,440
S1: we're expecting by late this year or early 2024?

694
00:34:28,020 --> 00:34:28,650
S5: Yeah.

695
00:34:28,650 --> 00:34:33,600
S3: So nothing is ever impossible. You know, I think that we.

696
00:34:33,600 --> 00:34:36,480
S3: We saw the meme. This is your last chance. This

697
00:34:36,480 --> 00:34:40,350
S3: might be your last chance to buy below 20,000. Think

698
00:34:40,680 --> 00:34:43,410
S3: I did tweet that out several times, and one of

699
00:34:43,410 --> 00:34:49,050
S3: them actually might have been true, but we have no idea. Um. Right. And,

700
00:34:49,410 --> 00:34:52,259
S3: you know, so who knows? Like this is this is

701
00:34:52,260 --> 00:34:56,969
S3: the market. Any literally anything can happen. Um, my money

702
00:34:56,969 --> 00:35:00,029
S3: is in Bitcoin. That's where I feel like, you know,

703
00:35:00,270 --> 00:35:03,150
S3: because I do believe in the long term transformative potential

704
00:35:03,150 --> 00:35:08,100
S3: of this technology. Um, I do believe that digital scarcity

705
00:35:08,100 --> 00:35:13,320
S3: is only found in Bitcoin and something like Ethereum doesn't

706
00:35:13,320 --> 00:35:18,240
S3: really recreate it simply because bitcoin's coded a hard coded

707
00:35:18,239 --> 00:35:21,930
S3: into the 21 million cap. It will never be replaced.

708
00:35:21,960 --> 00:35:23,970
S3: You guys know this. Don't I don't have to tell

709
00:35:23,969 --> 00:35:28,590
S3: you again. Um, but what I do. What's different now

710
00:35:28,620 --> 00:35:33,109
S3: is the audience. Because the nfts that are minted on

711
00:35:33,110 --> 00:35:37,430
S3: Bitcoin literally are taking a Satoshi off the market. It's

712
00:35:37,430 --> 00:35:40,819
S3: not the same as like Ethereum where, okay, I'm paying

713
00:35:40,820 --> 00:35:43,880
S3: a bit of gas, the gas goes to the miners,

714
00:35:44,030 --> 00:35:48,379
S3: but now I have a million nfts whatever I want

715
00:35:48,380 --> 00:35:50,870
S3: them to look like. It doesn't matter. There is no

716
00:35:50,870 --> 00:35:54,950
S3: digital scarcity. There's only the project who says we're only

717
00:35:54,950 --> 00:35:57,410
S3: going to make 10,000 of these, but they might turn

718
00:35:57,410 --> 00:36:00,049
S3: around next year and say, Hey, well, we need another thousand. Why?

719
00:36:00,050 --> 00:36:02,600
S3: Because well, hey, look, we voted on it. It's okay.

720
00:36:02,630 --> 00:36:05,600
S3: There's no actual scarcity there. I mean, there's only a

721
00:36:05,600 --> 00:36:08,360
S3: scarcity of as much as you trust the people who

722
00:36:08,360 --> 00:36:13,430
S3: are controlling the smart contracts, Maybe the smart contract is

723
00:36:13,430 --> 00:36:18,860
S3: designed to ensure that scarcity. Maybe it's not with Bitcoin

724
00:36:19,190 --> 00:36:22,520
S3: that Satoshi is off the market, right? If somebody is

725
00:36:22,520 --> 00:36:25,219
S3: holding that ordinal, I mean, he could spend it without

726
00:36:25,219 --> 00:36:27,890
S3: touching the ordinal, but they're basically just taking it off

727
00:36:27,890 --> 00:36:31,190
S3: the mark. There's that bitcoin literally. That's wild and hot.

728
00:36:31,430 --> 00:36:32,060
S5: So there's.

729
00:36:32,060 --> 00:36:38,270
S2: 780,000, right? There's 780,000 ordinals so far. So that's not

730
00:36:38,270 --> 00:36:39,500
S2: even one bitcoin yet.

731
00:36:40,130 --> 00:36:42,950
S3: I believe the number is upwards of a million by now.

732
00:36:43,010 --> 00:36:45,320
S3: Think Dune Analytics is the ones who are who are

733
00:36:45,320 --> 00:36:48,739
S3: keeping track of everything. We celebrate a million. A couple

734
00:36:48,739 --> 00:36:52,969
S3: of weeks ago I grabbed a few toads under half

735
00:36:52,969 --> 00:36:55,670
S3: a million because I feel like, I don't know, in

736
00:36:55,670 --> 00:36:58,009
S3: ten years from now somebody's going to go. You have

737
00:36:58,010 --> 00:37:01,670
S3: one of the first million half million ordinals, right? Like,

738
00:37:01,670 --> 00:37:04,890
S3: and that might be worth something to somebody someday. Um,

739
00:37:05,030 --> 00:37:10,520
S3: but literally what happens is that it creates because as

740
00:37:10,520 --> 00:37:13,670
S3: soon as people understand this, people realize it. Some already

741
00:37:13,670 --> 00:37:18,740
S3: have the fact that digital scarcity only exists on Bitcoin.

742
00:37:19,250 --> 00:37:22,340
S3: That's only going to put the Bitcoin more in demand

743
00:37:22,340 --> 00:37:25,130
S3: and the more that goes. I mean, we've seen how

744
00:37:26,210 --> 00:37:31,880
S3: the frogs and, and you know, and monkeys and tacos,

745
00:37:31,880 --> 00:37:35,870
S3: these type of things. I don't know why cats internet goes, Ooh,

746
00:37:35,900 --> 00:37:40,070
S3: I like it. I saw, you know um, a GoFundMe

747
00:37:40,070 --> 00:37:43,650
S3: page for a potato salad, which I believe hit six figures. So,

748
00:37:43,650 --> 00:37:44,900
S3: I mean, people just go nuts.

749
00:37:45,050 --> 00:37:45,590
S5: Delicious.

750
00:37:45,590 --> 00:37:46,790
S4: That's really, really good.

751
00:37:47,390 --> 00:37:49,129
S5: It's like, hey, need to make a potato salad.

752
00:37:49,140 --> 00:37:51,799
S3: Anybody want to help me? And then, like, suddenly he's

753
00:37:51,800 --> 00:37:54,529
S3: having a potato salad party that was like a block.

754
00:37:54,530 --> 00:37:55,340
S5: Party or something. Yeah.

755
00:37:55,340 --> 00:37:57,560
S1: Yeah, it's good. We're going to talk more about ordinals

756
00:37:57,560 --> 00:38:00,500
S1: in an upcoming episode. We've got somebody coming on that's

757
00:38:00,500 --> 00:38:03,860
S1: going to share some thoughts with us on that. Probably

758
00:38:04,070 --> 00:38:04,370
S1: more than.

759
00:38:04,370 --> 00:38:05,060
S5: Me, honestly.

760
00:38:05,870 --> 00:38:10,000
S1: I went ahead and I minted one, I created the

761
00:38:10,060 --> 00:38:13,640
S1: the genesis of Genesis. You know, this is our Blockchain

762
00:38:13,640 --> 00:38:18,650
S1: Hero series. And what's what's more Genesis than the sketch

763
00:38:18,650 --> 00:38:21,980
S1: that became the the NFT. So I went ahead and,

764
00:38:21,980 --> 00:38:26,899
S1: and I minted this just because I could ordinal 167,353.

765
00:38:27,170 --> 00:38:32,720
S1: The question is around your assertion that these ordinals are

766
00:38:32,750 --> 00:38:37,460
S1: going to cause Bitcoin transaction fees to go to $1,000.

767
00:38:37,460 --> 00:38:39,830
S1: You just rendered bitcoin useless?

768
00:38:40,100 --> 00:38:41,810
S5: Nope, not useless. Okay.

769
00:38:41,810 --> 00:38:42,500
S1: Go ahead.

770
00:38:42,710 --> 00:38:46,339
S3: Not useless at all. I mean, actually what? I was

771
00:38:46,340 --> 00:38:49,580
S3: extremely upset when I when I came to this realization

772
00:38:49,580 --> 00:38:53,210
S3: because I saw the blockchain starting to flood. I mean,

773
00:38:53,360 --> 00:38:56,900
S3: we were up to like 100,000 unconfirmed transactions. I don't

774
00:38:56,900 --> 00:38:59,630
S3: remember the number off the top of my head. Just

775
00:38:59,630 --> 00:39:01,549
S3: as ordinals came out and there was a rush to

776
00:39:01,550 --> 00:39:05,750
S3: be like the first ordinals on Bitcoin and the blockchain

777
00:39:05,750 --> 00:39:08,810
S3: was flooded. Miners were not keeping up with the load.

778
00:39:08,810 --> 00:39:14,720
S3: And um, simply the transaction cost went from like pennies

779
00:39:14,719 --> 00:39:19,130
S3: to like dollars. Like it went mean. I often send,

780
00:39:19,130 --> 00:39:24,980
S3: you know, 15, $20 to somebody in, in a developing economy, right?

781
00:39:24,980 --> 00:39:30,050
S3: And like, um, literally, you know, it doesn't make sense

782
00:39:30,050 --> 00:39:32,600
S3: to do that when it's three and a half dollars, right?

783
00:39:32,600 --> 00:39:35,780
S3: It's like you're okay when it's, when it's $0.10, like, okay,

784
00:39:35,780 --> 00:39:37,280
S3: who cares? Negligible.

785
00:39:37,280 --> 00:39:39,740
S2: That's Western Union types percentages.

786
00:39:39,920 --> 00:39:43,310
S3: And I dmed Woody Wertheimer. I met him offline a

787
00:39:43,310 --> 00:39:45,890
S3: few times. I like him. He's a bit he's a

788
00:39:45,890 --> 00:39:48,350
S3: bit weird, but like, Dude, what the heck are you

789
00:39:48,350 --> 00:39:51,740
S3: doing with these these wizards? Dude, you're flooding the blockchain.

790
00:39:51,860 --> 00:39:58,040
S3: And we had this whole conversation in the background, and, um, look,

791
00:39:58,040 --> 00:39:59,270
S3: the end of the day.

792
00:39:59,480 --> 00:40:00,860
S5: I can't stop.

793
00:40:00,860 --> 00:40:02,239
S3: Him from doing what he wants to.

794
00:40:02,239 --> 00:40:03,650
S5: Do. It's Bitcoin.

795
00:40:03,650 --> 00:40:06,200
S3: Just like the Bitcoin maxes. Can't tell me how to

796
00:40:06,200 --> 00:40:07,100
S3: use Bitcoin.

797
00:40:07,489 --> 00:40:08,630
S5: I can't tell him.

798
00:40:08,810 --> 00:40:11,840
S3: Taproot was invented. It's on the blockchain, It's in the code.

799
00:40:11,840 --> 00:40:14,240
S3: People can now do these things. He's just being a

800
00:40:14,239 --> 00:40:16,609
S3: capitalist and I can't fault him for that. He tells

801
00:40:16,610 --> 00:40:19,250
S3: me you should. He said, Look, if you want, if

802
00:40:19,250 --> 00:40:24,200
S3: you're concerned about layer one transactions use Stablecoins on Tron.

803
00:40:24,200 --> 00:40:26,780
S3: I've never used that before, but apparently it's a thing.

804
00:40:26,780 --> 00:40:29,150
S3: And he says, Well, you could try using Lightning Network.

805
00:40:29,150 --> 00:40:31,510
S3: There are other solutions for. For you, sir, but the

806
00:40:31,510 --> 00:40:34,330
S3: Bitcoin main chain is never going to remain cheap and

807
00:40:34,330 --> 00:40:38,200
S3: easy to use as it is right now. And as

808
00:40:38,200 --> 00:40:40,030
S3: soon as he said that, I went and bought some.

809
00:40:40,030 --> 00:40:40,660
S5: Frogs, man.

810
00:40:40,810 --> 00:40:42,730
S3: Like said, like, you know, you can't beat them, join

811
00:40:42,730 --> 00:40:44,510
S3: them because like, what the heck am I going to do?

812
00:40:44,860 --> 00:40:46,780
S3: Sit here and shout till I'm blue? He's not going

813
00:40:46,780 --> 00:40:49,180
S3: to stop what he's doing other. It's just going to

814
00:40:49,180 --> 00:40:51,790
S3: fuel the fire for other people to use these ordinals

815
00:40:51,790 --> 00:40:55,359
S3: and it just gets more popular. So literally, you just

816
00:40:56,500 --> 00:40:59,500
S3: got to accept it and move on. But um, yeah.

817
00:40:59,560 --> 00:41:05,469
S3: Mean Ethereum transaction fees before, you know two successful very

818
00:41:05,469 --> 00:41:09,549
S3: successful so far upgrades right? The merge and then the

819
00:41:10,090 --> 00:41:12,730
S3: what was it, the Shanghai or whatever it was called

820
00:41:13,030 --> 00:41:20,410
S3: just now. Um, it was $400, $500 transaction cost to

821
00:41:20,410 --> 00:41:25,390
S3: buy a stupid NFT. Right. So if Ethereum right pre

822
00:41:25,390 --> 00:41:29,110
S3: scaling reached 400 or $500 and there's no digital scarcity

823
00:41:29,110 --> 00:41:34,670
S3: involved and at the time there was an inflationary model. Right.

824
00:41:34,670 --> 00:41:37,820
S3: It's going to reach 400 and $500. I mean, I'm

825
00:41:37,820 --> 00:41:43,280
S3: pretty certain that Bitcoin can can put that to shame.

826
00:41:43,340 --> 00:41:44,600
S5: I mean, if we.

827
00:41:44,780 --> 00:41:47,750
S3: If we do see that kind of rush to ordinals.

828
00:41:47,750 --> 00:41:49,549
S2: So let me ask you this then, because one of

829
00:41:49,550 --> 00:41:52,760
S2: the things that I that that we chatted about multiple

830
00:41:52,760 --> 00:41:53,839
S2: times over the years.

831
00:41:53,840 --> 00:41:54,560
S6: Is.

832
00:41:54,560 --> 00:41:57,020
S2: So Bitcoin, there's 21 million.

833
00:41:57,020 --> 00:42:00,440
S6: Bitcoin ever. One of the things they could do is

834
00:42:00,440 --> 00:42:01,939
S6: just move the decimal point.

835
00:42:01,940 --> 00:42:05,779
S2: So instead of having eight decimal points for Satoshis, maybe

836
00:42:05,780 --> 00:42:08,390
S2: now they have ten, maybe they have 12. And then

837
00:42:08,390 --> 00:42:10,460
S2: it just makes this a Toshi worth a lot more

838
00:42:10,460 --> 00:42:13,370
S2: because now that's divisible, you just won't see that happening.

839
00:42:13,489 --> 00:42:16,880
S1: The military scrunchy face. Did you see that when you was.

840
00:42:16,880 --> 00:42:18,830
S2: Making scrunchy face mate? Yeah.

841
00:42:19,460 --> 00:42:20,720
S5: I mean you can.

842
00:42:20,719 --> 00:42:24,410
S3: Do it in a centralized platform, right? I mean, literally,

843
00:42:24,410 --> 00:42:27,260
S3: if somebody is showing you a balance that's a fraction

844
00:42:27,260 --> 00:42:29,180
S3: of a Bitcoin. And you know, I mean, you can

845
00:42:29,180 --> 00:42:32,359
S3: you can transact. I mean they're, they're, they're transactions that

846
00:42:32,360 --> 00:42:34,879
S3: don't round in traditional finance. And if you're with your

847
00:42:34,880 --> 00:42:37,040
S3: your bank and it happens to come out with a

848
00:42:37,040 --> 00:42:39,770
S3: half a cent I mean maybe they'll round it off

849
00:42:39,770 --> 00:42:42,380
S3: and keep it for themselves, but they could technically, you know,

850
00:42:42,380 --> 00:42:45,470
S3: keep that half a cent on your balance. Um.

851
00:42:45,830 --> 00:42:46,069
S5: Well, I mean.

852
00:42:46,070 --> 00:42:49,280
S2: Think about it, Bitcoin becomes worth $1 million then once

853
00:42:49,280 --> 00:42:52,190
S2: Satoshi is technically worth a dollar and it's like, well

854
00:42:52,190 --> 00:42:54,800
S2: we need to be able to divide that further. So

855
00:42:54,800 --> 00:42:56,690
S2: I think it just depends on how high the price

856
00:42:56,690 --> 00:42:57,200
S2: of Bitcoin.

857
00:42:57,200 --> 00:42:58,520
S6: Gets before the.

858
00:42:58,520 --> 00:42:59,480
S2: Bitcoin, You know.

859
00:42:59,540 --> 00:43:00,980
S6: Foundation votes.

860
00:43:00,980 --> 00:43:04,040
S2: On that and says, Well, let's just move the decimal point. Yeah.

861
00:43:04,050 --> 00:43:06,050
S3: And that vote.

862
00:43:06,350 --> 00:43:06,890
S5: Could.

863
00:43:06,890 --> 00:43:11,690
S3: Potentially be extremely divisive. Yeah. I mean you don't just

864
00:43:11,690 --> 00:43:14,930
S3: need 51% to agree because you know that you're going

865
00:43:14,930 --> 00:43:17,630
S3: to have militants fighting it and you're going to have

866
00:43:17,630 --> 00:43:22,760
S3: blockchain Bitcoin cashes and Bitcoin cash ABC's and BS and

867
00:43:22,760 --> 00:43:25,340
S3: is that really worth it And you know and it's

868
00:43:25,340 --> 00:43:27,440
S3: going to be it could it could potentially be.

869
00:43:27,440 --> 00:43:28,190
S5: A war.

870
00:43:28,370 --> 00:43:31,370
S3: Literally like people could die over this shit man. So

871
00:43:31,370 --> 00:43:33,740
S3: like I don't know if that's ever going to happen.

872
00:43:33,739 --> 00:43:38,210
S3: It would require a broad consensus of the entire world population.

873
00:43:38,210 --> 00:43:40,370
S3: And I don't know if you know something about people,

874
00:43:40,370 --> 00:43:42,590
S3: but they don't usually agree on everything.

875
00:43:43,160 --> 00:43:45,440
S1: That's the truth. Well, okay, so there's an answer I

876
00:43:45,440 --> 00:43:48,260
S1: didn't get from you. And that was calling this next

877
00:43:48,260 --> 00:43:50,359
S1: bull run. I know. You know, you say you don't

878
00:43:50,360 --> 00:43:53,120
S1: like to make predictions, but you do like to make predictions.

879
00:43:53,330 --> 00:43:54,410
S1: We're just not going to hold.

880
00:43:54,410 --> 00:43:55,670
S7: You, right? That's true.

881
00:43:56,270 --> 00:43:59,540
S1: All right. All right. Time. So the next bull run,

882
00:44:00,050 --> 00:44:03,140
S1: when do you think it's officially going to start? Set

883
00:44:03,140 --> 00:44:05,270
S1: a set a date range, You know, give a third,

884
00:44:05,270 --> 00:44:08,300
S1: you know, give a month in year. And then how

885
00:44:08,300 --> 00:44:10,219
S1: far do you think we'll go on this next one?

886
00:44:10,219 --> 00:44:11,750
S1: You got to have something in mind.

887
00:44:12,020 --> 00:44:13,400
S5: I think it's already started.

888
00:44:13,400 --> 00:44:19,100
S3: I mean, I'm fairly certain, like with a 98% certainty,

889
00:44:19,250 --> 00:44:23,450
S3: we've seen the bottom already, right? I mean, 16,000. That's

890
00:44:23,450 --> 00:44:27,390
S3: that's that's pretty damn low. That start of 2020 3rd

891
00:44:27,390 --> 00:44:30,650
S3: January taking off like a rocket. I'm pretty sure that's

892
00:44:30,650 --> 00:44:31,279
S3: that's it.

893
00:44:31,430 --> 00:44:32,210
S7: But but that's I.

894
00:44:32,210 --> 00:44:34,759
S1: Mean where we are now, that's not a bull run signal.

895
00:44:34,760 --> 00:44:36,200
S1: Like a signal that's like 16.

896
00:44:36,200 --> 00:44:38,320
S2: Months before the, the having. Yeah. Right.

897
00:44:38,360 --> 00:44:41,870
S1: So 40 K is a signal. Like what, what's the

898
00:44:41,870 --> 00:44:45,350
S1: actual signal that we're like, yeah, this is, we're going

899
00:44:45,350 --> 00:44:48,440
S1: to the moon and this is how many dollars don't.

900
00:44:48,440 --> 00:44:50,510
S2: Just want to text. Could you just message him on

901
00:44:50,510 --> 00:44:51,440
S2: the day that it looks. I want.

902
00:44:51,440 --> 00:44:53,029
S1: To know. I want to know right now.

903
00:44:54,260 --> 00:44:55,640
S5: No, I.

904
00:44:55,640 --> 00:44:58,190
S3: Literally mean, anything that I could say is just is

905
00:44:58,190 --> 00:44:59,060
S3: just an educated.

906
00:44:59,060 --> 00:44:59,480
S5: Guess.

907
00:44:59,480 --> 00:45:00,710
S7: That's fine. We'll take it.

908
00:45:01,100 --> 00:45:04,340
S3: Yeah. So I think that we're about let me share

909
00:45:04,340 --> 00:45:07,130
S3: my screen again and I'm going to use, even though

910
00:45:07,130 --> 00:45:12,000
S3: I think that Plan B is a hack and he's

911
00:45:12,020 --> 00:45:16,730
S3: his predictions are silly. Um, this chart does have something

912
00:45:16,730 --> 00:45:20,569
S3: to it as far as the having cycle is concerned. Um,

913
00:45:20,570 --> 00:45:23,780
S3: and we're at around this where it's getting this dark

914
00:45:23,780 --> 00:45:27,680
S3: green area. And if we think about 2019, that was

915
00:45:27,680 --> 00:45:29,120
S3: a fake out, like a huge fake.

916
00:45:29,120 --> 00:45:29,630
S5: Out.

917
00:45:29,630 --> 00:45:34,040
S3: Right? And then it leveled out around 10,000, stabilized around

918
00:45:34,040 --> 00:45:38,210
S3: 10,000 for a while until the until the having started.

919
00:45:38,210 --> 00:45:41,680
S3: And then the bull run really kicked off after the

920
00:45:41,690 --> 00:45:47,450
S3: having um but also this weirdly correlates with monetary policy

921
00:45:47,690 --> 00:45:48,680
S3: right and it's.

922
00:45:48,680 --> 00:45:49,489
S5: Difficult to.

923
00:45:49,489 --> 00:45:53,900
S3: To tell which one's influencing which. And according to our

924
00:45:53,900 --> 00:45:57,680
S3: research at quantum economics, more than the having the number

925
00:45:57,680 --> 00:46:02,870
S3: one thing that really affects Bitcoin price so far has

926
00:46:02,870 --> 00:46:06,709
S3: been the Federal Reserve. And when the printing presses are on,

927
00:46:06,710 --> 00:46:09,800
S3: a lot of that money is being channeled into Bitcoin

928
00:46:09,800 --> 00:46:13,700
S3: and when they start pulling back and money gets scarce,

929
00:46:14,090 --> 00:46:16,370
S3: people need to sell off their bitcoin to pay the

930
00:46:16,370 --> 00:46:21,890
S3: bills and fulfill obligations and shit like that. So I

931
00:46:22,040 --> 00:46:27,020
S3: mean literally it can be seen. I mean 2017, 2018,

932
00:46:27,020 --> 00:46:30,580
S3: I believe is around when Janet Yellen started like, um,

933
00:46:30,620 --> 00:46:35,219
S3: you know, pulling back, uh, the money. Stimulus and started

934
00:46:35,219 --> 00:46:38,460
S3: leveling off. Right. And then, you know, once COVID hit,

935
00:46:38,460 --> 00:46:41,940
S3: they just turned the printer on go BR Right. And

936
00:46:41,940 --> 00:46:43,560
S3: all the way up. So literally.

937
00:46:43,650 --> 00:46:44,190
S5: It looks like we're.

938
00:46:44,190 --> 00:46:45,719
S2: Going to get to that. So if you don't know

939
00:46:45,719 --> 00:46:47,580
S2: this is stock to flow model he's looking at buy

940
00:46:47,580 --> 00:46:51,810
S2: bitcoin worldwide slash stats slash stock to flow you can

941
00:46:51,810 --> 00:46:53,759
S2: see that over on the side. So when that so

942
00:46:53,760 --> 00:46:55,529
S2: when that turns to that darker green, then it's going

943
00:46:55,530 --> 00:46:56,970
S2: to turn to blue and then all of a sudden

944
00:46:56,969 --> 00:46:59,670
S2: it turns red. So is that. But it looks like

945
00:46:59,670 --> 00:47:01,740
S2: from when it hits red, then it really starts taking

946
00:47:01,739 --> 00:47:04,440
S2: off and going off again, like restarting or something. So

947
00:47:04,440 --> 00:47:05,969
S2: I don't really fully understand that, Right.

948
00:47:05,969 --> 00:47:06,840
S5: It's it's it's.

949
00:47:06,840 --> 00:47:09,780
S3: Right before it turns orange. So what happens when when

950
00:47:09,780 --> 00:47:15,870
S3: the having comes is basically like imagine the mine the

951
00:47:15,870 --> 00:47:18,509
S3: it starts with the miners right And we're setting up

952
00:47:18,510 --> 00:47:20,040
S3: a Bitcoin mining facility.

953
00:47:20,040 --> 00:47:20,610
S5: At the moment.

954
00:47:20,610 --> 00:47:25,259
S3: So a little bit about this. Basically, the miners are

955
00:47:25,260 --> 00:47:29,820
S3: getting a set reward. Right. And they have their calculations

956
00:47:29,820 --> 00:47:31,890
S3: for how much hash they're contributing and how much their

957
00:47:31,890 --> 00:47:34,890
S3: machines cost, how much their electricity. They're throwing all of

958
00:47:34,890 --> 00:47:38,640
S3: these things into a big spreadsheet and making their calculations. Now,

959
00:47:38,640 --> 00:47:41,489
S3: all of a sudden, you know, it's happening in advance,

960
00:47:41,489 --> 00:47:44,940
S3: but all of a sudden that reward, that profit, that

961
00:47:44,940 --> 00:47:49,340
S3: that revenue that's coming in is basically cut in half.

962
00:47:49,350 --> 00:47:55,109
S3: It's like, um, our CEO, Jason Dean, who's running our

963
00:47:55,350 --> 00:47:58,980
S3: mining operation, explained at one time in a blog at

964
00:47:58,980 --> 00:48:01,440
S3: the last heading, which was brilliant. He was basically goes,

965
00:48:01,440 --> 00:48:03,989
S3: it's like sticking your hand in a jar of beans

966
00:48:03,989 --> 00:48:08,220
S3: and just, you know, um, constantly the jar is full

967
00:48:08,219 --> 00:48:09,900
S3: and you just stick your hand in and grab the

968
00:48:09,900 --> 00:48:12,000
S3: beans out and all of a sudden the jar is

969
00:48:12,000 --> 00:48:15,810
S3: pretty empty. Like the beans just aren't there anymore, right?

970
00:48:15,810 --> 00:48:21,120
S3: So suddenly the bitcoin starts to get scarce, right? Cannot

971
00:48:21,120 --> 00:48:23,130
S3: the people who are hodling or the people who are

972
00:48:23,130 --> 00:48:25,470
S3: selling it up is the it's where the mining rewards

973
00:48:25,469 --> 00:48:29,610
S3: start to affect the natural flow of the market.

974
00:48:30,540 --> 00:48:33,480
S1: Okay. You still haven't answered my question and I'm going

975
00:48:33,480 --> 00:48:37,739
S1: to hold your feet to the fire for the third time, mate.

976
00:48:38,610 --> 00:48:41,280
S1: When and how much?

977
00:48:42,540 --> 00:48:46,350
S7: Oh, educated guess we accept that.

978
00:48:47,160 --> 00:48:48,899
S2: Can I throw this out there? Because it seems looking

979
00:48:48,900 --> 00:48:50,580
S2: at that stock, the flow model you just showed, it's

980
00:48:50,580 --> 00:48:53,070
S2: going to be over 100,000. It looks like that's like

981
00:48:53,070 --> 00:48:55,229
S2: that's a no brainer. But how high would it get

982
00:48:55,230 --> 00:48:57,270
S2: this time, this for the next cycle?

983
00:48:57,540 --> 00:49:02,310
S3: Well, you know, $1 billion by eventually I mean, last

984
00:49:02,310 --> 00:49:04,229
S3: time you guys tried to ask me this, I think

985
00:49:04,230 --> 00:49:07,739
S3: that I was pretty explicit, like anywhere between $100 and

986
00:49:07,739 --> 00:49:11,490
S3: a million by the end of the year. Like, it

987
00:49:11,489 --> 00:49:13,200
S3: can be anywhere in between. Yeah, but you.

988
00:49:13,200 --> 00:49:16,560
S1: Don't believe that because your money is in Bitcoin for

989
00:49:16,560 --> 00:49:17,640
S1: a reason.

990
00:49:17,700 --> 00:49:18,029
S5: Because.

991
00:49:18,420 --> 00:49:20,160
S3: Because I don't believe in the dollar and have no

992
00:49:20,160 --> 00:49:21,270
S3: other alternative.

993
00:49:21,270 --> 00:49:22,600
S5: I believe coin.

994
00:49:22,620 --> 00:49:25,110
S3: I believe that Bitcoin over time will go up because

995
00:49:25,110 --> 00:49:27,960
S3: it's the only instance of something scarce that we have

996
00:49:27,960 --> 00:49:30,240
S3: other than gold. And gold is not transactional.

997
00:49:30,239 --> 00:49:32,399
S5: So it just it only makes those.

998
00:49:32,400 --> 00:49:35,189
S2: Infinitely not scarce. If they find a big ass pool

999
00:49:35,190 --> 00:49:37,290
S2: of it somewhere, right? Like they did in Uganda, they

1000
00:49:37,290 --> 00:49:40,200
S2: found a bunch of gold like, Whoa, nice. I got some.

1001
00:49:40,200 --> 00:49:41,399
S5: Gold coins, man.

1002
00:49:41,610 --> 00:49:43,109
S3: It's. It's okay.

1003
00:49:43,440 --> 00:49:43,880
S5: When you're.

1004
00:49:43,980 --> 00:49:46,020
S2: Like a pirate and holding a bunch of gold coins,

1005
00:49:46,020 --> 00:49:47,690
S2: you're like, you're mighty fucking.

1006
00:49:47,700 --> 00:49:50,040
S7: Yeah, because it goes down.

1007
00:49:50,040 --> 00:49:51,810
S5: Bitcoin isn't going to save you. You have to have

1008
00:49:51,810 --> 00:49:53,460
S5: something to barter it. Yeah.

1009
00:49:53,610 --> 00:49:55,680
S2: Bullets actually invest in bullets.

1010
00:49:55,890 --> 00:49:57,060
S5: Yeah. You don't want you don't want to.

1011
00:49:57,060 --> 00:49:58,440
S3: Spend a whole gold coin.

1012
00:49:58,440 --> 00:49:59,430
S5: On. Here you go.

1013
00:49:59,550 --> 00:50:02,069
S1: Got a gold ring? This was my father's. It was

1014
00:50:02,070 --> 00:50:03,060
S1: one of the things. Is that a.

1015
00:50:03,060 --> 00:50:03,600
S7: Lion?

1016
00:50:03,600 --> 00:50:04,560
S1: Yeah, it's a lion.

1017
00:50:04,710 --> 00:50:06,720
S5: You know, if the Internet goes down, that might.

1018
00:50:06,870 --> 00:50:07,500
S3: That might get you.

1019
00:50:07,500 --> 00:50:10,480
S5: A gun, literally, you know? So, um.

1020
00:50:10,800 --> 00:50:13,259
S3: But silver coins, I think, are a bit more transactional.

1021
00:50:13,260 --> 00:50:14,250
S3: If you need a loaf of bread, you.

1022
00:50:14,250 --> 00:50:16,500
S5: Don't want to give that gold coin away. Right, right, right.

1023
00:50:16,950 --> 00:50:19,169
S5: You got you got to have a bit of both.

1024
00:50:19,170 --> 00:50:20,370
S5: Maybe some diamonds also.

1025
00:50:20,370 --> 00:50:21,030
S3: Because that'll get you.

1026
00:50:21,030 --> 00:50:22,560
S5: Out of the country. Right.

1027
00:50:22,570 --> 00:50:26,250
S3: So literally, you know, you got it. You got to

1028
00:50:26,250 --> 00:50:29,100
S3: be diversified about these things. But I mean, for for

1029
00:50:29,100 --> 00:50:32,910
S3: for myself, you know, a few thousand dollars, I'll stick

1030
00:50:32,910 --> 00:50:34,770
S3: it a D5 because I'm playing around with it and

1031
00:50:34,770 --> 00:50:39,330
S3: building the system, making it better every time I'm, you know,

1032
00:50:39,330 --> 00:50:41,969
S3: using it, you know, using using a yield, using a

1033
00:50:41,969 --> 00:50:45,570
S3: smart contract, making the system grow, making the system strong

1034
00:50:46,050 --> 00:50:50,580
S3: for for anything more than, you know, 20, 30, 100

1035
00:50:50,600 --> 00:50:52,830
S3: KS like you got a you got to be in

1036
00:50:52,830 --> 00:50:55,020
S3: Bitcoin because like it's not really much of an.

1037
00:50:55,020 --> 00:50:55,860
S5: Alternative to me.

1038
00:50:55,860 --> 00:50:57,810
S2: So it would seem to me looking at the chart

1039
00:50:57,810 --> 00:51:02,580
S2: that this go round maybe we hit 200, 250 K

1040
00:51:02,610 --> 00:51:06,509
S2: like a quarter million potentially as a potentiality. And if

1041
00:51:06,510 --> 00:51:08,819
S2: that's the case then Bitcoin just did almost a 20

1042
00:51:08,820 --> 00:51:12,360
S2: x right. It did a 15 x or something and

1043
00:51:12,360 --> 00:51:14,460
S2: then it comes and come back down to the 50

1044
00:51:14,489 --> 00:51:16,740
S2: k range or whatever before it goes up to the

1045
00:51:16,739 --> 00:51:20,100
S2: next big number, right? If it does that because 50

1046
00:51:20,100 --> 00:51:22,189
S2: K then comes down and then does another 15 to

1047
00:51:22,190 --> 00:51:24,480
S2: 20 x, then it hits the million. So it's like,

1048
00:51:24,660 --> 00:51:28,200
S2: is that within two? Because you know, John McAfee was

1049
00:51:28,200 --> 00:51:30,180
S2: always joking, Oh, well if it doesn't hit a million

1050
00:51:30,180 --> 00:51:31,950
S2: by the end of 2020, I'm going to eat my

1051
00:51:31,950 --> 00:51:35,219
S2: junk and then literally little. They know Spain was going

1052
00:51:35,219 --> 00:51:36,330
S2: to eat his junk.

1053
00:51:36,420 --> 00:51:36,870
S6: And.

1054
00:51:36,870 --> 00:51:37,689
S2: Then. Yeah, yeah.

1055
00:51:38,370 --> 00:51:40,600
S5: You know what? The thing about that is, Travis and

1056
00:51:40,710 --> 00:51:43,799
S5: especially as far as influencers are concerned, whoever's.

1057
00:51:43,800 --> 00:51:45,930
S3: Whoever picks the highest number wins.

1058
00:51:46,440 --> 00:51:46,719
S5: You get.

1059
00:51:46,770 --> 00:51:47,129
S2: The most.

1060
00:51:47,520 --> 00:51:48,630
S4: Oh, so.

1061
00:51:48,630 --> 00:51:53,310
S6: Influencer Monte Greenspan says Bitcoin to hit $250,000 on the

1062
00:51:53,310 --> 00:51:55,259
S6: next bull run. Oh, why that man?

1063
00:51:55,260 --> 00:51:58,140
S5: I'll say it's going to hit $10 billion by tomorrow.

1064
00:51:58,260 --> 00:51:59,520
S4: Oh, shit. Yeah.

1065
00:51:59,520 --> 00:52:00,810
S5: Let's go viral. Like what?

1066
00:52:00,810 --> 00:52:02,669
S7: The viral. Well, Tim.

1067
00:52:02,670 --> 00:52:04,920
S1: Draper does that a lot. Tim. Tim is in the

1068
00:52:04,920 --> 00:52:07,320
S1: news a lot for making projections.

1069
00:52:07,790 --> 00:52:08,850
S7: Well, that's because.

1070
00:52:08,850 --> 00:52:09,569
S2: He did he.

1071
00:52:10,410 --> 00:52:11,640
S6: And got a whole shitload.

1072
00:52:11,640 --> 00:52:13,230
S2: Of it and was like, oh, I.

1073
00:52:13,230 --> 00:52:13,890
S6: Got it for super.

1074
00:52:13,890 --> 00:52:14,190
S2: Cheap.

1075
00:52:14,280 --> 00:52:16,500
S6: I really want this to be really high. I got

1076
00:52:16,500 --> 00:52:17,130
S6: a lot of it.

1077
00:52:18,120 --> 00:52:20,729
S5: Yeah. No, usually. Usually. But, but that's.

1078
00:52:20,730 --> 00:52:23,370
S3: But that's for small time influencers. The big guys like

1079
00:52:23,370 --> 00:52:25,350
S3: Jamie Dimon, man, he tries to squash it so he

1080
00:52:25,350 --> 00:52:26,190
S3: can get it cheaper.

1081
00:52:26,400 --> 00:52:27,050
S5: Yeah.

1082
00:52:27,060 --> 00:52:28,410
S7: Jamie Well.

1083
00:52:28,410 --> 00:52:33,630
S1: Matt, we appreciate you coming on your website. Is quantum economics.io.

1084
00:52:33,660 --> 00:52:36,600
S1: You guys can go sign up for free email right there.

1085
00:52:36,600 --> 00:52:39,960
S1: You guys just did an acquisition. You know, as you say,

1086
00:52:39,960 --> 00:52:44,230
S1: you're playing with Defi Revolt Network. What what is, what

1087
00:52:44,230 --> 00:52:47,310
S1: does Revolt Network do and what does that lead you

1088
00:52:47,310 --> 00:52:48,180
S1: into now?

1089
00:52:48,820 --> 00:52:49,180
S5: Yeah.

1090
00:52:49,180 --> 00:52:54,100
S3: So Revolt Network is a place to find and allocate

1091
00:52:54,100 --> 00:52:59,170
S3: money within the defi world. Um, basically we don't own

1092
00:52:59,170 --> 00:53:01,960
S3: the smart contracts, but we allow people to search all

1093
00:53:01,960 --> 00:53:03,850
S3: the smart contracts that are out there and find the

1094
00:53:03,850 --> 00:53:08,350
S3: highest yielding ones. Um, that in my mind is the

1095
00:53:08,350 --> 00:53:12,340
S3: true meaning of Defi because it's decentralized. We're actually not

1096
00:53:12,340 --> 00:53:15,580
S3: the broker themselves. Nobody's handing us money. We don't custody

1097
00:53:15,580 --> 00:53:19,780
S3: any money, but rather we're a gateway to finding to

1098
00:53:19,780 --> 00:53:23,620
S3: finding smart contracts and liquidity pools where people can in

1099
00:53:23,620 --> 00:53:28,270
S3: fact earn the yield. And of course, you know, this

1100
00:53:28,270 --> 00:53:30,400
S3: is this is a very early stage, a very early

1101
00:53:30,400 --> 00:53:34,420
S3: iteration of it. Um, but eventually we basically we add

1102
00:53:34,420 --> 00:53:37,660
S3: tools and obviously this is this is safe enough, not

1103
00:53:37,660 --> 00:53:40,270
S3: safe enough that I would recommend anybody put some serious

1104
00:53:40,270 --> 00:53:43,240
S3: money into. But you could play around with it and

1105
00:53:43,239 --> 00:53:45,660
S3: you know, with, you know, on small on small money

1106
00:53:45,670 --> 00:53:47,739
S3: and there's no there's no limit to how small. Also,

1107
00:53:47,739 --> 00:53:51,640
S3: there's no there's the blockchain you can literally come in with, with, with,

1108
00:53:51,640 --> 00:53:56,500
S3: with fractions. But um, the, the idea here is that

1109
00:53:56,500 --> 00:54:00,759
S3: we add tools to make it safer. Um, insurance and

1110
00:54:00,760 --> 00:54:04,899
S3: smart contract auditing services. I mean, those are the obvious ones.

1111
00:54:04,900 --> 00:54:07,960
S3: And the more, you know, a smart contract has been audited,

1112
00:54:07,960 --> 00:54:09,580
S3: the more you could say, wait, wait a second, It's

1113
00:54:09,580 --> 00:54:13,239
S3: more safe, more eyeballs, more programmer eyeballs and bid on this.

1114
00:54:13,239 --> 00:54:16,120
S3: And the more you have insurance, the more somebody can say, okay, well,

1115
00:54:16,120 --> 00:54:18,759
S3: I'm willing to pay out of my profits a little,

1116
00:54:18,760 --> 00:54:21,489
S3: you know, a few percentages because it might blow up

1117
00:54:21,489 --> 00:54:23,350
S3: in my face. And if it does, I'll get my

1118
00:54:23,350 --> 00:54:24,400
S3: money back. Right?

1119
00:54:24,400 --> 00:54:25,870
S5: So this is this.

1120
00:54:25,870 --> 00:54:28,480
S3: Is in my mind how we make defi stronger. And

1121
00:54:28,480 --> 00:54:31,060
S3: this is, in my mind the type of tool that's

1122
00:54:31,060 --> 00:54:32,230
S3: going to allow us to do it.

1123
00:54:33,010 --> 00:54:35,800
S1: I find that revolting. Travis, what do you think?

1124
00:54:36,040 --> 00:54:39,340
S2: Well, you need to stack your riva's I guess so

1125
00:54:39,340 --> 00:54:41,860
S2: let me ask that. So is it. It's a platform.

1126
00:54:41,860 --> 00:54:43,690
S2: They have their own token, but you were able to

1127
00:54:43,690 --> 00:54:46,480
S2: acquire the company as a thing. So it's a centralized

1128
00:54:46,480 --> 00:54:47,440
S2: thing of some sort.

1129
00:54:47,440 --> 00:54:48,489
S6: But it helps.

1130
00:54:48,489 --> 00:54:51,830
S2: People with with decentralized finance choices.

1131
00:54:51,850 --> 00:54:52,330
S5: Not only.

1132
00:54:52,330 --> 00:54:53,380
S3: That, um.

1133
00:54:53,500 --> 00:54:54,550
S5: The.

1134
00:54:54,820 --> 00:55:00,310
S3: Old development team who got it from, uh, you know, literally,

1135
00:55:00,310 --> 00:55:03,670
S3: they kind of, sort of rubbed. I mean, they, they, well,

1136
00:55:03,670 --> 00:55:05,590
S3: I mean, they, I would say that they ran into

1137
00:55:05,590 --> 00:55:08,200
S3: bear market trouble because, like, they were trying to get

1138
00:55:08,200 --> 00:55:12,050
S3: listed in South Korea and then Terra Luna happened. And then,

1139
00:55:12,050 --> 00:55:14,350
S3: I don't know, the founders started fighting. They stopped talking

1140
00:55:14,350 --> 00:55:17,950
S3: to the community. It's actually run as a Dao, right?

1141
00:55:17,950 --> 00:55:21,520
S3: So in the legal documents, when we were going through

1142
00:55:21,520 --> 00:55:24,850
S3: the legal documents, we realized that actually the DAO has

1143
00:55:24,850 --> 00:55:27,730
S3: to be on board with this decision. Like the Dao

1144
00:55:28,060 --> 00:55:32,950
S3: have to vote to be acquired. And we spoke with

1145
00:55:32,950 --> 00:55:36,790
S3: the Dao and we actually had several AMAs and people

1146
00:55:36,910 --> 00:55:40,330
S3: liked our vision, obviously. And the vote was the vote

1147
00:55:40,330 --> 00:55:45,060
S3: was unanimous. Um, we had 1.4 million Rivas in favor

1148
00:55:45,070 --> 00:55:48,760
S3: zero against. So yeah. So and.

1149
00:55:48,880 --> 00:55:49,390
S5: Would have voted.

1150
00:55:49,390 --> 00:55:51,760
S2: Against just out of principle because it doesn't need to

1151
00:55:51,760 --> 00:55:52,509
S2: be unanimous.

1152
00:55:52,870 --> 00:55:54,520
S5: That would be incredibly vindictive.

1153
00:55:55,650 --> 00:55:57,250
S2: That's not how I roll. That's good.

1154
00:55:57,250 --> 00:55:58,840
S7: Thank you. It is not nice at all.

1155
00:55:59,110 --> 00:56:03,400
S1: You can follow Matt on the Twitters at Matt Greenspan

1156
00:56:03,400 --> 00:56:06,340
S1: and he's going to make predictions that says bitcoin's going

1157
00:56:06,340 --> 00:56:10,750
S1: to be somewhere between $100 and $1 billion. I would

1158
00:56:10,750 --> 00:56:14,020
S1: I'm going to bet that he's completely accurate about that. Matt,

1159
00:56:14,050 --> 00:56:16,719
S1: thanks for, uh, for coming on again and sharing with us, man.

1160
00:56:16,719 --> 00:56:17,350
S5: We appreciate it.

1161
00:56:17,440 --> 00:56:19,240
S3: Thanks a lot for having me, guys. It's been a pleasure.

1162
00:56:20,980 --> 00:56:22,569
S1: Okay. I'm not triggered anymore.

1163
00:56:22,750 --> 00:56:23,680
S7: That was good. That's so good.

1164
00:56:23,680 --> 00:56:24,910
S2: I'm so grateful to hear about that.

1165
00:56:25,030 --> 00:56:26,140
S7: I'm always worried.

1166
00:56:26,560 --> 00:56:28,150
S1: I'm de trigger fied.

1167
00:56:28,989 --> 00:56:30,670
S2: You know, we can do what's be kind of fun.

1168
00:56:30,670 --> 00:56:32,500
S2: I noticed, like, on some of these interviews, it's like

1169
00:56:32,500 --> 00:56:37,570
S2: we should take a wide background image, slice it in two,

1170
00:56:37,570 --> 00:56:39,790
S2: and then whenever we're there, it's going to it would

1171
00:56:39,790 --> 00:56:42,040
S2: look like like if we had that, that, that earth

1172
00:56:42,040 --> 00:56:44,020
S2: you have behind you. And we had like one big earth,

1173
00:56:44,020 --> 00:56:46,300
S2: like a big rainbow, like we could both be on

1174
00:56:46,300 --> 00:56:48,649
S2: both sides of it and it would look seamless, would look, oh.

1175
00:56:48,670 --> 00:56:49,690
S1: Well, you're the artist.

1176
00:56:49,690 --> 00:56:50,799
S7: Make us a cool look.

1177
00:56:50,800 --> 00:56:52,120
S2: Hey, we can do one of those. I'll. I'll try

1178
00:56:52,120 --> 00:56:54,549
S2: to find where those extra wide ones chopping in half.

1179
00:56:54,550 --> 00:56:55,780
S2: You get one, I get the other. Just make sure

1180
00:56:55,780 --> 00:56:57,730
S2: we're in the right place and they can look cool.

1181
00:56:57,730 --> 00:56:59,800
S1: I'm feeling extra wide these days.

1182
00:56:59,920 --> 00:57:00,969
S7: That's good. Well, you're.

1183
00:57:00,969 --> 00:57:02,529
S2: About to go on a big cruise, so you're going

1184
00:57:02,530 --> 00:57:04,510
S2: to come back probably wider. If you don't pay attention

1185
00:57:04,510 --> 00:57:04,930
S2: to that.

1186
00:57:04,930 --> 00:57:08,920
S7: That may or may not be true. Yep. Spring vacation. Oh,

1187
00:57:08,920 --> 00:57:10,120
S7: it's a buffet again.

1188
00:57:10,120 --> 00:57:12,340
S2: Everybody, time for the buffet.

1189
00:57:14,680 --> 00:57:16,600
S1: Uh, we got a lot of things going on, gang.

1190
00:57:16,600 --> 00:57:18,850
S1: A lot of great content coming your way. Thank you

1191
00:57:18,850 --> 00:57:22,180
S1: for sticking with us. And please tell a friend about

1192
00:57:22,180 --> 00:57:25,060
S1: the Bad crypto podcast. You know, convert a phone. I

1193
00:57:25,060 --> 00:57:27,520
S1: do this. People are like, Oh, what show do you host?

1194
00:57:27,520 --> 00:57:29,590
S1: And I tell them we're like, Oh, I should listen

1195
00:57:29,590 --> 00:57:31,360
S1: to that. I say, Well, hand me your phone. And

1196
00:57:31,360 --> 00:57:33,280
S1: I take it and I go to their podcast player

1197
00:57:33,280 --> 00:57:37,150
S1: and I either follow or subscribe depending upon what they're

1198
00:57:37,150 --> 00:57:40,270
S1: using to listen and just convert them.

1199
00:57:40,600 --> 00:57:44,200
S2: Follow, follow us on the Bad crypto podcast on the YouTubes.

1200
00:57:44,200 --> 00:57:46,540
S2: That's good. We like subscribers over there. That's really helpful.

1201
00:57:46,540 --> 00:57:48,400
S2: And a lot of our stuff is becoming more visual.

1202
00:57:48,690 --> 00:57:51,060
S2: So if you're a visual person, you know, tune in

1203
00:57:51,060 --> 00:57:52,650
S2: that way. It's kind of fun. You can, especially if

1204
00:57:52,650 --> 00:57:54,750
S2: you've got a smart TV. We were doing a lot

1205
00:57:54,750 --> 00:57:55,650
S2: of cool stuff with that, so.

1206
00:57:55,650 --> 00:57:58,380
S1: It's because we get more attractive the older we get.

1207
00:57:58,380 --> 00:58:00,870
S2: So I'll tell you what, I'm debonair as fuck. I

1208
00:58:00,870 --> 00:58:01,800
S2: don't know if you know that or not.

1209
00:58:01,830 --> 00:58:02,250
S7: Suave.

1210
00:58:02,820 --> 00:58:04,860
S1: Af, suave and debonair.

1211
00:58:05,310 --> 00:58:05,820
S7: And then.

1212
00:58:06,150 --> 00:58:08,100
S2: I would say Joel is pretty.

1213
00:58:08,100 --> 00:58:11,040
S7: Swath. I'm bad.

1214
00:58:11,050 --> 00:58:14,390
S2: That is a 1980s flex term right there.

1215
00:58:14,410 --> 00:58:18,940
S4: No, you was your boyfriend was was like me swaps.

1216
00:58:19,450 --> 00:58:22,090
S2: And then and somebody else redid that song later but

1217
00:58:22,090 --> 00:58:24,970
S2: it was swaps so mix a lot it's an early

1218
00:58:24,970 --> 00:58:28,000
S2: sir makes a lot song before baby got back matter

1219
00:58:28,000 --> 00:58:28,450
S2: of fact.

1220
00:58:29,020 --> 00:58:29,890
S7: Okay you know.

1221
00:58:30,310 --> 00:58:32,620
S1: Things I did not know and now I did. Now

1222
00:58:32,620 --> 00:58:35,350
S1: I do know. And now you know. And I know

1223
00:58:35,350 --> 00:58:37,810
S1: that you're going to do something for us. And you're going.

1224
00:58:37,810 --> 00:58:43,580
S7: To stay back. Stay bad. Stay swaps. Stay swaps. Oh.

1225
00:59:00,930 --> 00:59:01,650
S9: Who's bad?

1226
00:59:03,270 --> 00:59:07,050
S1: The Bad Crypto podcast is a production of Bad Crypto LLC.

1227
00:59:07,080 --> 00:59:09,930
S1: The content of the show, the videos and the website

1228
00:59:09,930 --> 00:59:14,070
S1: is provided for educational, informational and entertainment purposes only. It's

1229
00:59:14,070 --> 00:59:17,970
S1: not intended to be and does not constitute financial investment

1230
00:59:17,970 --> 00:59:21,030
S1: or trading advice of any kind. You shouldn't make any

1231
00:59:21,030 --> 00:59:24,660
S1: decisions as to finances, investing, trading or anything else based

1232
00:59:24,660 --> 00:59:29,190
S1: on this information without undertaking independent due diligence and consultation

1233
00:59:29,190 --> 00:59:32,610
S1: with a professional financial advisor, Please understand that the trading

1234
00:59:32,610 --> 00:59:37,680
S1: of bitcoins and alternative cryptocurrencies have potential risks involved. Anyone

1235
00:59:37,680 --> 00:59:40,080
S1: wishing to invest in any of the currencies or tokens

1236
00:59:40,080 --> 00:59:43,440
S1: mentioned on this podcast should first seek their own independent

1237
00:59:43,440 --> 00:59:45,450
S1: professional financial advisor.