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Speaker 1: Uh that was the introduction. It's like, did we break him? Yeah,

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Speaker 1: it cut out. It cut out in the middle of

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Speaker 1: your like intro, like, oh man, you know what speaking

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Speaker 1: of caning, very funny story. We have a vet shortage

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Speaker 1: in Oregon, so I had to book my kittens getting

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Speaker 1: you know, their genital sliced off, like six weeks in advance. Um.

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Speaker 1: And unfortunately, because it took so long, Uh, my lady

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Speaker 1: cat went into heat and was desperately trying to get

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Speaker 1: her brother to fuck her for days and it was

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Speaker 1: a real problem. We had to keep him apart, and

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Speaker 1: she was just like presenting to every living creature, including

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Speaker 1: dogs that came near here. Just I have never seen

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Speaker 1: an animal want to fox so bad, and I it

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Speaker 1: was just incredible before you met me. I mean you

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Speaker 1: just literally gave Sophia lay up like I knew that

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Speaker 1: was coming, yea tossing a softball Sophie that I'm I'm

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Speaker 1: I'm the Nolan Ryan of this. That was way too easy.

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Speaker 1: Come on, I'm sorry. A good times, really good times.

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Speaker 1: Now back to not good times. A k this fucking

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Speaker 1: n f T talk Just like we quickly can we

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Speaker 1: quickly acknowledge that Robert blushed. I believe that during that joke.

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Speaker 1: Love to see this boy blush. All right, keep going,

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Speaker 1: keep going, uh, speaking of such your imaginary money go on. Well.

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Speaker 1: But also there's a very fun story today that Charlie

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Speaker 1: Kirk just warned that Democrats want people to live in

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Speaker 1: sexual anarchy. Oh yeah, my god, it's true. It is.

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Speaker 1: I mean, it depends because that's really just like one

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Speaker 1: subset of polyamory. It's not even a particularly common one.

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Speaker 1: Very very few people I know practice relationship anarchy. But

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Speaker 1: I don't think that's what Charlie Kirk is talking about.

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Speaker 1: And you know what else is terrible to be around, Sophia.

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Speaker 1: I was just gonna say crypto enthusiastic, but yes, n

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Speaker 1: f T s they're deeply unpleasant. Um So, as we

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Speaker 1: kind of ended the episode on the fucking world of

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Speaker 1: bitcoin in an ether, like all of cryptochy, it's just

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Speaker 1: like it's just a galaxy of scams, and the latest

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Speaker 1: and silliest of these scams are in f T s.

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Speaker 1: So the term n f T stands for non fungible token.

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Speaker 1: Think about it. If you grab a piece of a

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Speaker 1: fungus and you toss it somewhere, it'll grow into a

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Speaker 1: full version of that fungus. That's how funguses work. Most

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Speaker 1: currency kind of making me hungry for a mushroom pizza.

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Speaker 1: I could go for some mushrooms. Most money kind of

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Speaker 1: works that way too, Like obviously you can't like throw

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Speaker 1: it and it grows into more money, but you can

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Speaker 1: split up money, like you can split a dollar up

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Speaker 1: into coin into fractions of a dollar and that's all

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Speaker 1: still currency, right, Um, n f t s don't work

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Speaker 1: that way. It cannot be funged, it can't be split up.

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Speaker 1: You're buying like a token that cannot be uh divided, right,

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Speaker 1: like you can spend fractions of a bitcoin you like,

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Speaker 1: an n f T is is not It's not fungible, right,

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Speaker 1: That's that's that's all that means. So if you're a

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Speaker 1: casual observer of n FT culture, you probably think that

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Speaker 1: owning an n f T is dumb because you're just

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Speaker 1: buying ownership of a jpeg online which anyone can write,

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Speaker 1: click and save as unless it's pretty fucking silly. But Sophia,

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Speaker 1: what if I were to tell you it's dumber than that?

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Speaker 1: Oh m, dumber than that, because here's the thing, there

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Speaker 1: would be some value in having legal ownership of an

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Speaker 1: online drawing right because potentially you could merchandise that drawing right.

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Speaker 1: You could sell t shirts that include that drawing, Like

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Speaker 1: there would actually be significant value of Like somebody makes

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Speaker 1: a meme and it's like, well, I'm selling the rights

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Speaker 1: to this meme. You could you could monetize that. There

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Speaker 1: would be real value in being able to actually own

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Speaker 1: a meme potentially. Okay, so you're talking to somebody that

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Speaker 1: used to be an art consultant and my job was

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Speaker 1: working as kind of the middle person between um the

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Speaker 1: hospitality industry, meaning hotels and artists. So I would be

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Speaker 1: the person that they would hire to decide on what

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Speaker 1: hotel art would go in a hotel. A news flash,

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Speaker 1: I do not want it to be fucking shells, but

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Speaker 1: they are cheap as fuck. So but yeah, the thing

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Speaker 1: that's really interesting about how much money you can make

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Speaker 1: as an artist that kind of shows you how capitalism

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Speaker 1: works and is kind of just fascinating and does I

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Speaker 1: think kind of relate to n f T s UM

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Speaker 1: is so the most amount of money that people would

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Speaker 1: make is through doing something simple like black and white architecture,

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Speaker 1: and it would be because every hotel ever wants that

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Speaker 1: as their thing. So it'd be like a Chicago hotel

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Speaker 1: being like, oh, we'd love some really cool shots of

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Speaker 1: black and white architecture, and so we would have folders

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Speaker 1: and folders of this stuff. And so when somebody like

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Speaker 1: that hotel would be like, Okay, we want this photo

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Speaker 1: printed and in every single guest room. Right, So that's

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Speaker 1: an order for two hundred and twenty, say just an example,

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Speaker 1: and that's like kind of a low number, twenty rooms, right,

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Speaker 1: And you would the artists would negotiate how much money

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Speaker 1: they would want per print. So say you would negotiate

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Speaker 1: six dollars, so multiply that by two hundred and twenty.

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Speaker 1: That's money you just made from taking one photo, whereas

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Speaker 1: selling the equivalent amount of money of just one original

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Speaker 1: piece would be a lot harder in certain way. But

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Speaker 1: this is also kind of like winning the lottery, so

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Speaker 1: in that way that's even more hard. So it just

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Speaker 1: the the value we ascribe to art is so arbitrary,

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Speaker 1: and to see a whole system built on this, that's

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Speaker 1: just like yeah, and it's not even here's the funny thing,

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Speaker 1: and I'm really glad that you brought that up, because

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Speaker 1: we're gonna talk about the actual art industry in a

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Speaker 1: little bit as well. You're not even buying like a

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Speaker 1: licensed drawing. You are no where with an issue. Well

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Speaker 1: it's but it's dumber than that because you're not even

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Speaker 1: buying You're not buying the image. Like when you buy

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Speaker 1: in n f T, you are in no way purchasing

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Speaker 1: even access to just that image. You are buying basically

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Speaker 1: space on the blockchain. You are buying a token, and

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Speaker 1: that token is just blank space. Um, and there's something

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Speaker 1: on the space when you buy it, but doesn't necessarily

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Speaker 1: stay there because those images are hosted somewhere right in

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Speaker 1: the oken just has a link to them. If that

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Speaker 1: image hosting thing goes on, all you have is a

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Speaker 1: blank spot on the blockchain exactly. Yeah, And that's why

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Speaker 1: when people have been trying to pitch to me, like

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Speaker 1: this is really good for artists and whatever, and I'm

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Speaker 1: like maybe in the short term, but overall for artists

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Speaker 1: and collectors, if your goal is to make things that

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Speaker 1: last and to have people that are genuine fans and

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Speaker 1: for that to be something that's part of the art process,

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Speaker 1: like by people's art, by people's actual fucking art, We'll

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Speaker 1: talk to about the extent to which artists are actually

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Speaker 1: benefiting here. But I just really want to make people

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Speaker 1: sure that people know, like it's not actually like you're

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Speaker 1: owning a jpeg. You don't own the jpeg. You own

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Speaker 1: like a space on the blockchain where the jpeg currently is,

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Speaker 1: but anything could be there pretty much. Um. This has

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Speaker 1: made very clear in the terms of sale for Christie's,

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Speaker 1: which is a massive auction website. Right, it was a

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Speaker 1: big deal when christie started auctioning n f t s

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Speaker 1: because like Christie's is like a real auction thing, Like

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Speaker 1: they they auction off serious shit. They have a thirty

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Speaker 1: three page conditions document for their n f T auctions

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Speaker 1: which states, you acknowledge that ownership of an n f

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Speaker 1: T carries no rights express or implied other than property

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Speaker 1: rights for the lot, specifically digital artwork tokenized by the

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Speaker 1: n f T. You acknowledge and represent that there is

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Speaker 1: substantial uncertainty as to the characterization of n f t

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Speaker 1: s and other digital assets under applicable law, So like,

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Speaker 1: we don't even entirely know what you own when you

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Speaker 1: win this auction. It's like when you're trying to sign

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Speaker 1: that fucking travel insurance or some ship and then once

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Speaker 1: you read the fine print, you're like, I'm buying nothing now. Obviously,

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Speaker 1: I think there are some n f T s that

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Speaker 1: like specifically, the contract of the sale means you do

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Speaker 1: own that image and you could license it or whatnot.

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Speaker 1: Like you the artist, obviously you have the ability as

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Speaker 1: the artist to sell not just the n f T,

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Speaker 1: but to actually sell someone rights to an image you

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Speaker 1: draw like that. That is a thing that can happen.

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Speaker 1: I'm sure it does happen, but that's not generally what

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Speaker 1: is happening when people buy an n f T. The

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Speaker 1: real genius behind n f T s is a grift,

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Speaker 1: is that they take a legitimate problem, which is that

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Speaker 1: artists have a real hard time making a good living

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Speaker 1: off of work, especially like work that is shared by

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Speaker 1: new a minute, you're telling me being an artist, is

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Speaker 1: it profitable? What a minute? Robberts about these jokes about

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Speaker 1: about being Russian and dig jokes and pussy jokes. They

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Speaker 1: don't sell, Robert, Well, actually they sell very well. What

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Speaker 1: do you mean. I've been doing this for over ten years, Robert,

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Speaker 1: what are you saying right now? It's kind of like

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Speaker 1: this isn't where I should have spend my time. I

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Speaker 1: mean it's worked out since podcasts became a thing. The

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Speaker 1: n f T s of comedy for some moment, Yeah,

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Speaker 1: I have the n f t s of comedy. Nice

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Speaker 1: fucking titties. That's how we started this episode now, so

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Speaker 1: fucking like again, there's a real problem here, which is that,

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Speaker 1: like so, artists regularly will create drawings that are shared

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Speaker 1: like sometimes even hundreds of millions of times, and they

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Speaker 1: won't make any money off of that and will be

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Speaker 1: like starving to death while also having created one of

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Speaker 1: the most like widely shared pieces of art and human history.

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Speaker 1: I agree that's an issue, right. I'm a big fan

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Speaker 1: of artists getting paid. I'm not someone who believes there's

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Speaker 1: any artistic value in starving um. But so the promise

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Speaker 1: of n f T S is like, this is a

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Speaker 1: way those artists who create viral art can sell a

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Speaker 1: digital original UM, and that will allow them to finally

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Speaker 1: get paid for their work, uh and to make it better.

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Speaker 1: The way ether, which is the basis of n f

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Speaker 1: t S works, means that smart contracts guarantee that the

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Speaker 1: artists can get a cut of any future sales the

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Speaker 1: owner of their n f T makes after buying it,

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Speaker 1: And this is one of the kind of neat things

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Speaker 1: about it. If the whole thing wasn't a griff, this

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Speaker 1: would be a neat idea that, like, okay, you sell

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Speaker 1: the rights to this drawing and anyone else who sells.

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Speaker 1: If the person who buys it sells it again, you

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Speaker 1: get a cut of that sale too, which is neat um.

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Speaker 1: The problems are everything that comes next. So the first

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Speaker 1: big success among a n f T s, which is

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Speaker 1: before the term itself was really known by anybody, were

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Speaker 1: cryptocats in two thousand seventeen, As a tech Crunch report

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Speaker 1: from the time noted, crypto Kitties is essentially like an

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Speaker 1: online version of Pokemon cards, but based on the Ethereum blockchain.

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Speaker 1: And like, I guess it's like aristocats. Yeah, okay, okaind

199
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Speaker 1: of And like most viral sensations that catch on in

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Speaker 1: the tech world, it's blowing up fast. Built by Vancouver

201
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Speaker 1: and San Francisco based design studio axioms In, the game

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Speaker 1: is the latest fat in the world of cryptocurrency. People

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Speaker 1: are spending a crazy amount of real money on the game.

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Speaker 1: So far, about one point three million dollars has been

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Speaker 1: transacted with multiple kittens selling for fifty ether around twenty

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Speaker 1: three thousand dollars and the Genesis kitten being sold for

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Speaker 1: a record two hundred forty six ether around a hundred

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Speaker 1: and thirteen thousand dollars. This third party site tracks the

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Speaker 1: largest purchases made to date on the game, and like

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Speaker 1: any good viral sensation, prices are rising in flu stuating fast.

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Speaker 1: Right now, it will cost you about point zero three

212
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Speaker 1: either or twelve dollars to buy the least expensive kitten

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Speaker 1: in the game, And calling these game is kind of

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Speaker 1: stretching it, but crypto kitties would prove to be an

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Speaker 1: intensely depressing proof of concept. People refined and reworked the

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Speaker 1: idea until in the concept of n f T S

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Speaker 1: hit big. This was after depending on who you ask,

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Speaker 1: two or three bubble and burst cycles from Bitcoin two

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Speaker 1: thousand seventeen was when most people really became aware of

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Speaker 1: cryptocurrency and the fact that you could make a lot

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Speaker 1: of money off of it. And if you remember, during

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Speaker 1: that big Bitcoin boom, basically for a while, every Silicon

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Speaker 1: Valley company had to tell the world they had a

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Speaker 1: blockchain related project in the pipeline, and this was all bullshit.

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Speaker 1: The blockchain actually has and has had so far remarkably

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Speaker 1: very little promise for the tech industry. It is virtually

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Speaker 1: useless for most large companies and for a variety of

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Speaker 1: the problems that it claims to be able to solve,

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Speaker 1: and in fact, like one of the things about it

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Speaker 1: that's funny is that, like for all the people using

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Speaker 1: blockchain is like a buzzword term to excite people, there's

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Speaker 1: actually a widely used technology that's basically a blockchain that

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Speaker 1: that nobody called that that is has been huge for forever. Um.

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Speaker 1: It's called get um. Like get hub is the place

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Speaker 1: online where you find it, like it's it's it's basically

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Speaker 1: a repository of code. It's for people making code to

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Speaker 1: like keep a record of changes to code that they're

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Speaker 1: making and whatnot, so everyone who's doing code and can

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Speaker 1: see what other people are doing. Um. The way it

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Speaker 1: works is very much like a blockchain. UM. So it again,

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Speaker 1: it's one of those things like there's all these like

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Speaker 1: crypto evangelists talking about how revolutionary the blockchain is. It's like, no,

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Speaker 1: the things that are actually potentially valuable about blockchain technology,

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Speaker 1: we've already been doing for a long time like get

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Speaker 1: hub go or get goes back like almost twenty years.

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Speaker 1: I think, um, there's there's really nothing cool or new here.

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Speaker 1: But for a while, every big Silicon Valley company had

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Speaker 1: to announce that they were looking into doing a blockchain.

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Speaker 1: You know, we're we were we're looking into the blockchain

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Speaker 1: for whatever. I remember when people are talking about like

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Speaker 1: this is going to change voting, it's going to make

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Speaker 1: it impossible to do a fraudulent vote, um, which is

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Speaker 1: I don't know, it's all, it's all. It's just people

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Speaker 1: like you know, it's what happens whenever something goes viral,

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Speaker 1: like suddenly it's the same thing. Was like a meme,

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Speaker 1: where like suddenly you've got like the McDonald's Twitter account

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Speaker 1: sharing a meme that's popular. That's what happened with a

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Speaker 1: blockchain in two thousand seventeen. Minus the chicken nuggies. Yeah,

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Speaker 1: I mean, chicken nuggets are certainly more valuable than uh,

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Speaker 1: I don't know, any given in f t UM. So

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Speaker 1: after something like one point five billion dollars in investments

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Speaker 1: into blockchain technology um started by this big bit point

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Speaker 1: coin boom in two thousand seventeen, almost no profit has

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Speaker 1: actually been realized it's just pretty much been piste away,

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Speaker 1: um because for the most part they were just like

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Speaker 1: announcing anyway. It's all very frustrating. So in one after

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Speaker 1: this crypto optimism kind of fades. There's still a lot

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Speaker 1: of money in cryptocurrency. People are still like Bitcoin had

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Speaker 1: a boo pretty recently after the one in two seventeen,

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Speaker 1: so it's still a way you can make money. But

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Speaker 1: like all of these these people talking about like, oh,

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Speaker 1: you know, the blockchain's got a revolutionize this industry of that, like,

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Speaker 1: none of it really happens. Um And so in two

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Speaker 1: thousand twenty one, people who want to make a shipload

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Speaker 1: off of money off of cryptocurrency needs something new. And

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Speaker 1: that's when n f t s finally blow up on

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Speaker 1: like a national scale. Um so uh. Just as a

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Speaker 1: theory of advocates had claimed that smart contracts would magically

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Speaker 1: fix the inequities of the recording industry, in FT advocates

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Speaker 1: began to claim that their magical crypto nonsense was the

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Speaker 1: solution to the problems artists faced and getting paid. The

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Speaker 1: irony was that as soon as n f t s

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Speaker 1: went viral as a concept and money started pouring in

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Speaker 1: scammers began stealing the work of artists to sell unauthorized

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Speaker 1: and f T s. There's a good article about this

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Speaker 1: in The Verge from March of this year. It tells

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Speaker 1: the story of Derek Laufman, who work woke up earlier

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Speaker 1: that month to emails from fans of his art being like, hey,

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Speaker 1: when did you start selling an f T s. He

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Speaker 1: was confused because he had not, in fact started selling

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Speaker 1: an f T and he said as much. Eventually he

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Speaker 1: realized that someone impersonating him had created a profile and

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Speaker 1: gotten it verified on Rearable, a site where people buy

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Speaker 1: n f T s. Today, Wearable requires people in order

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Speaker 1: to like verify your identity to listen an f T

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Speaker 1: you have to provide links to two active social media

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Speaker 1: profiles and a behind the scenes picture of your art.

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Speaker 1: I don't think that second requirement existed in March, but

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Speaker 1: even now you don't actually have to give up any

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Speaker 1: documents to verify your identity. So it's very easy to

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Speaker 1: fake being an artist in order to sell an n

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Speaker 1: f T of their art. As Laufman told The Verge,

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Speaker 1: I dealt with having my art stolen for years, and

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Speaker 1: I'm sort of numb to that. But when somebody is

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Speaker 1: claiming to be you that kind of you know, that

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Speaker 1: pisces me off, and it's really frustrating because you have

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Speaker 1: again this real problem of like for years artists are

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Speaker 1: sealing people like Elon Musk stealing a meme they make

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Speaker 1: and like not crediting them or even like cutting the

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Speaker 1: credit out, and like that's frustrating. But n f t

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Speaker 1: s have just in a lot of ways made it worse.

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Speaker 1: Like not that there aren't artists who make money. There

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Speaker 1: are a decent number of artists who have made some

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Speaker 1: money off of this, but there's an equal number of

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Speaker 1: people who are having their ships stolen by other people

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Speaker 1: who are making money, which is really frustrating. I mean,

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Speaker 1: this reminds me of um all of the art that

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Speaker 1: got stolen for Lula ro Leggings and just crudely being

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Speaker 1: like it's different and then not being different, pop like

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Speaker 1: that's my ship. Yeah, And they're being no no recourse whatsoever,

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Speaker 1: either in yours in this situation or in the Lulu

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Speaker 1: ro one. And that's what's fucking happening here. And again

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Speaker 1: it is they're like they can get the art the

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Speaker 1: n f t s delisted, but if they've already sold.

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Speaker 1: One of the things about crypto is you can't reverse

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Speaker 1: a transaction. It's indelible, it's done. There's no getting the

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Speaker 1: money back like which is great. Um from the Urge quote.

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Speaker 1: Artists like Laufmann have had their work minted as n

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Speaker 1: f T s and listed for sale without their permission,

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Speaker 1: and as in that case, platforms that host stolen art

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Speaker 1: only seem to moderate if the artist finds out and

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Speaker 1: posts about it on social media. Tales from the Loop

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Speaker 1: author Simon Stalinhag found his art on Marble Cards, another

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Speaker 1: n f T site, and Giffey has warned that people

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Speaker 1: are turning user created gifts from its site into n

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Speaker 1: f T s because the n f T system doesn't

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Speaker 1: require people to actually own the copyright to something to

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Speaker 1: mint it. It's a market ripe for fraud, you might say,

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Speaker 1: that's the whole point. The Verges investigation found that fraud

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Speaker 1: was common in n f T markets, verging on constant

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Speaker 1: due to the fact that none of the major n

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Speaker 1: f T exchanges required people proved that they owned the

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Speaker 1: works they were profiting from. Once again, the promise of

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Speaker 1: cryptocurrency to write a longstanding injustice has proved to be

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Speaker 1: just another way of screwing over the same group of

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Speaker 1: people in pretty much the same way. It's almost like

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Speaker 1: trying to make being a pirate your identity will make

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Speaker 1: it so that everybody else is also. Yeah, and there's

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Speaker 1: no honor among thieves, that's all yeah, And it's it's

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Speaker 1: even worse than like hanging out with actual criminals, because

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Speaker 1: there is a degree of honors the wrong word, but

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Speaker 1: like honesty among people who are actually involved in in

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Speaker 1: high level crimes, because like you, you can get murdered

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Speaker 1: for fucking with somebody. So a lot of people are

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Speaker 1: actually very honest about their dealings in illegal trades because like,

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Speaker 1: I don't want that fucking trouble, you know, Like I'm

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Speaker 1: dealing with somebody who's scary, I'm not going to suck

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Speaker 1: them over. It's always refreshing when anyone is honest, whether

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Speaker 1: it's because they're afraid that they'll die or just because

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Speaker 1: they're like, look, it pains me to lie. Yeah, But

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Speaker 1: within f t s it's all online. You're anonymous. There's

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Speaker 1: no reason to like not scam people out of their

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Speaker 1: bullshit money and then turn it into real money and

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Speaker 1: then laugh all the way to the bank. So when

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Speaker 1: you talk about n f T success stories, the number

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Speaker 1: one thing that people are going to bring up is

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Speaker 1: what happened with People this year? Um. People is a

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Speaker 1: semi famous artist who does like a lot of like

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Speaker 1: electronic kind of art. Like a lot of artists I

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Speaker 1: know think is stuff is great. Um. He famously had

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Speaker 1: a collection of his art which was several thousand pieces.

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Speaker 1: It was called every Day and it was like five

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Speaker 1: thousand pieces that had been daily art releases of his

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Speaker 1: for years. Sells an n f T for sixty nine

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Speaker 1: million dollars via Christie's auction. Most people probably heard something

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00:20:28,280 --> 00:20:31,560
Speaker 1: about this. It was a pretty big news story. You

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Speaker 1: probably didn't hear the revelations about who actually bought the

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00:20:35,160 --> 00:20:37,400
Speaker 1: damn thing. And first off, I should note that well

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Speaker 1: people have. Yeah, I'm about to tell you one of

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Speaker 1: the things that frustrated about this is that, like People

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Speaker 1: has made a lot of cool art, the thing that

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Speaker 1: makes sells for sixty nine million is not cool. It's

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Speaker 1: like a bunch of daily like he was just trying

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Speaker 1: to make sure he always made a piece of art

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Speaker 1: every day and most of them are like not good.

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Speaker 1: Like that's nothing against him as an artist. It's just like, yeah,

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Speaker 1: it was that he was just like it was like

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Speaker 1: a daily project, Like he wasn't like throwing his heart

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Speaker 1: and soul in him. Was like scribbles basically electronic equivalent

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00:21:03,880 --> 00:21:07,240
Speaker 1: of scribbles. Yeah. And also it's like morning pages or

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Speaker 1: some ship. It's not supposed to be good. You're just

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Speaker 1: doing it every day to keep warm. You know, it's

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Speaker 1: ridiculous that it would sell for sixty nine million dollars. Also,

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Speaker 1: some of them were pretty racist. Wait, yeah, there's some

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Speaker 1: racist stuff in there. I think. I mean it was

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Speaker 1: years and years ago. I'm not going to like condemn

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Speaker 1: as a human being because like ten or fifteen years ago,

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00:21:26,960 --> 00:21:30,639
Speaker 1: he like drew was something that's kind of racist. Um,

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Speaker 1: but maybe you shouldn't have lumped all of this art

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Speaker 1: together and sold it. I don't know, I don't know

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00:21:35,200 --> 00:21:39,600
Speaker 1: the person. Um, it's just it's it's ridiculous that like

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Speaker 1: a bunch of crappy daily sketches, some of which looked

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Speaker 1: like they were drawn by an edgy seventeen year old

404
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Speaker 1: kid h sold for sixty nine million dollars at at

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Speaker 1: a Christie's auction. Um, that's just ridiculous. But you know

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Speaker 1: what's not ridiculous, Sophia, is it these goods and services, Robert,

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00:21:59,040 --> 00:22:01,520
Speaker 1: These goods and serve is number one, All of them

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00:22:01,560 --> 00:22:05,600
Speaker 1: cheaper than sixty nine million dollars, although I recommend spending

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Speaker 1: sixty million dollars on them, you know, and they even

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Speaker 1: sit on your face if you do. Wow. See listeners go,

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00:22:24,400 --> 00:22:30,679
Speaker 1: We're back a good times, bad times, actually horrible times,

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Speaker 1: terrible times. So let's talk about who won that auction

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Speaker 1: for People's everyday art um. The winner was somebody, obviously

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Speaker 1: with a shipload of shipload of cryptocurrency, and this person

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Speaker 1: purchased under a pseudonym Medical Van. But of course none

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Speaker 1: of this stuff is as anonymous as the advocates of

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Speaker 1: cryptocurrency want to pretend. Uh, And a crypto industry journalist

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Speaker 1: and a no coiner named Amy Castor tracked down Medicovin's identity.

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Speaker 1: The person behind that pseudonym was Vignesh Sandarason, a crypto

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Speaker 1: entrepreneur within it with an established and fairly shady background.

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Speaker 1: Among the many ventures he founded was something called coins

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Speaker 1: dash E. If you've been paying attention so far, this

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Speaker 1: story will sound familiar from Amy a Castor quote. Several

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Speaker 1: coins dash e users have taken to social media to

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Speaker 1: complain about losing money on coins dash e, calling it

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Speaker 1: a scam and warning others to watch out. The posts

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00:23:26,560 --> 00:23:29,480
Speaker 1: on our doge coin are the most alarming coins. Dash

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Speaker 1: E clients report having their doge coin disappear. Why are

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00:23:32,880 --> 00:23:36,080
Speaker 1: guys in Why described watching one point three million doge

430
00:23:36,119 --> 00:23:38,840
Speaker 1: evaporate and the frustration of being unable to reach tech

431
00:23:38,840 --> 00:23:41,560
Speaker 1: support to get to the bottom of the matter. Exclusive

432
00:23:41,600 --> 00:23:44,000
Speaker 1: two wrote, I've had just about enough of coins e

433
00:23:44,200 --> 00:23:47,199
Speaker 1: millions of coins missing, no reply from support. Ever, the

434
00:23:47,240 --> 00:23:49,800
Speaker 1: reason is because it's a one man operation. The problem

435
00:23:49,840 --> 00:23:52,480
Speaker 1: is this joker is stealing and trading everyone's coins when

436
00:23:52,480 --> 00:23:55,040
Speaker 1: and how he feels to make himself rich. He knows

437
00:23:55,040 --> 00:23:57,879
Speaker 1: that doge is worth a lot of bitcoin and large volumes.

438
00:23:58,760 --> 00:24:02,440
Speaker 1: Now it when someone calls someone else a joker, and

439
00:24:03,280 --> 00:24:05,760
Speaker 1: as you're talking about your coin made up over a

440
00:24:05,800 --> 00:24:11,920
Speaker 1: fake dog me and he's giving dog coin a bad name,

441
00:24:13,359 --> 00:24:15,160
Speaker 1: it's never going to get to the mood that way.

442
00:24:16,000 --> 00:24:19,439
Speaker 1: The Confederacy, It's like all the people who were angry

443
00:24:19,480 --> 00:24:21,960
Speaker 1: that Elon Musk didn't shout out doge coin when he

444
00:24:22,000 --> 00:24:23,679
Speaker 1: was on SNL because they thought it was going to

445
00:24:23,720 --> 00:24:25,680
Speaker 1: make them all Rich. It's like Elon Musk doesn't give

446
00:24:25,680 --> 00:24:29,080
Speaker 1: a shit about you, or you're fucking doge coin about it.

447
00:24:29,160 --> 00:24:31,440
Speaker 1: Every time he posted about it, he was making fun

448
00:24:31,440 --> 00:24:40,480
Speaker 1: of you. So, um yeah. Now Sandarasan told Castor that

449
00:24:40,560 --> 00:24:42,919
Speaker 1: he hadn't. When she brings it, she like, so Castor,

450
00:24:43,000 --> 00:24:45,480
Speaker 1: being a good journalist like, goes to sandaras In and

451
00:24:45,480 --> 00:24:48,160
Speaker 1: it's like, hey, did you make up this thing called

452
00:24:48,200 --> 00:24:50,520
Speaker 1: coins Dashy in order to rip a bunch of people off?

453
00:24:50,800 --> 00:24:52,879
Speaker 1: And he was like, no, of course not. That wasn't

454
00:24:52,880 --> 00:24:54,959
Speaker 1: me at all. I did make coins Dashy, but I

455
00:24:55,000 --> 00:24:57,800
Speaker 1: sold it to a company called Casta Crypto way before

456
00:24:57,800 --> 00:24:59,560
Speaker 1: the problem started. I had nothing to do with the

457
00:24:59,560 --> 00:25:02,440
Speaker 1: company and all that bad shit happened. So Barlow looked

458
00:25:02,440 --> 00:25:07,600
Speaker 1: into this, and she was the owner of Well, as

459
00:25:07,640 --> 00:25:09,359
Speaker 1: far as Barlow has been able to find, there's no

460
00:25:09,400 --> 00:25:12,359
Speaker 1: evidence the company ever existed. There's no press release that

461
00:25:12,800 --> 00:25:15,680
Speaker 1: coins Dashy was ever sold. There's no information to back

462
00:25:15,760 --> 00:25:18,600
Speaker 1: this up whatsoever. He promised to show her the proof

463
00:25:18,680 --> 00:25:20,960
Speaker 1: on a video call and then never got back to her.

464
00:25:21,520 --> 00:25:26,640
Speaker 1: Um so totally not sketchy guy. Her further digging made

465
00:25:26,640 --> 00:25:28,080
Speaker 1: it clear that and one of the things that is

466
00:25:28,119 --> 00:25:31,320
Speaker 1: cool about this, both in reading about learning about David

467
00:25:31,320 --> 00:25:34,240
Speaker 1: Gerhard and Amy Castor is realizing that, like, oh, there

468
00:25:34,280 --> 00:25:39,080
Speaker 1: are actually like good journalists who know about who understand crypto,

469
00:25:39,280 --> 00:25:42,720
Speaker 1: like right, I clearly I don't. I'm repeating other things

470
00:25:42,720 --> 00:25:44,840
Speaker 1: people have said about it that seemed credible that I

471
00:25:44,880 --> 00:25:47,200
Speaker 1: read because I'm not an expert on crypto. It's nice

472
00:25:47,200 --> 00:25:50,000
Speaker 1: to know there are people who care about it enough

473
00:25:50,040 --> 00:25:53,439
Speaker 1: to understand it deeply and are also actual journalists about it.

474
00:25:53,520 --> 00:25:56,440
Speaker 1: Because as silly as this is, I'm really glad and

475
00:25:57,040 --> 00:26:00,879
Speaker 1: Amy Castor is they're like actually try like trying to

476
00:26:01,040 --> 00:26:05,760
Speaker 1: document the griftiness of this whole thing. I think that's valuable. Um,

477
00:26:05,800 --> 00:26:08,280
Speaker 1: and I do really recommend Attack of the fifty Foot

478
00:26:08,280 --> 00:26:10,080
Speaker 1: Blockchain is a book if you actually want to like

479
00:26:10,280 --> 00:26:12,639
Speaker 1: understand all this stuff more and what a giant scam

480
00:26:12,640 --> 00:26:15,480
Speaker 1: it is, because I'm definitely getting it. Yeah, It's it's

481
00:26:15,560 --> 00:26:17,919
Speaker 1: very readable. It's very like as as dry as a

482
00:26:17,960 --> 00:26:20,480
Speaker 1: lot of crypto stuff is. David does a very good

483
00:26:20,560 --> 00:26:23,119
Speaker 1: job of like making you understand what's happening and how

484
00:26:23,280 --> 00:26:26,040
Speaker 1: ridiculous it is without it being boring. I mean, it's

485
00:26:26,080 --> 00:26:28,800
Speaker 1: slightly better than my husband explaining it to me, and

486
00:26:28,920 --> 00:26:31,960
Speaker 1: that's good. Yeah, it's definitely that's what's actually on the

487
00:26:32,000 --> 00:26:34,479
Speaker 1: cover of the book. Slightly better than having your husband

488
00:26:34,480 --> 00:26:37,240
Speaker 1: explained crypto to you because he spent your life savings

489
00:26:37,280 --> 00:26:41,600
Speaker 1: on a j pick. Honestly, I think that's a really

490
00:26:41,680 --> 00:26:48,120
Speaker 1: ringing indorsement. Yeah, it's the best thing women women all

491
00:26:48,240 --> 00:26:52,560
Speaker 1: over and not just women. There's billions of people all

492
00:26:52,560 --> 00:26:57,560
Speaker 1: over the world right now being uh, a man splained

493
00:26:57,640 --> 00:27:03,840
Speaker 1: crypto while they're trying to do some other ship you know, sleep, eat, etcetera.

494
00:27:04,320 --> 00:27:07,239
Speaker 1: It's very funny, um, and this book will protect you

495
00:27:07,280 --> 00:27:11,480
Speaker 1: from that, because then you'll be like, actually, yeah, actually

496
00:27:14,040 --> 00:27:19,320
Speaker 1: thing yeah um. So Amy Barlow's further digging made it

497
00:27:19,320 --> 00:27:22,280
Speaker 1: clear that rather than the sale of People's every Days

498
00:27:22,440 --> 00:27:24,919
Speaker 1: being a fairly normal case of an art lover of

499
00:27:24,920 --> 00:27:27,480
Speaker 1: buying a valuable work of art, the whole thing was

500
00:27:27,720 --> 00:27:32,240
Speaker 1: way more of a convoluted business relationship between people and

501
00:27:32,320 --> 00:27:35,840
Speaker 1: Sundarson Castor did the digging here, but the clearest and

502
00:27:35,920 --> 00:27:39,240
Speaker 1: most succinct summary I found of what actually happened comes

503
00:27:39,280 --> 00:27:42,240
Speaker 1: from a write up by Input magazine. Because Castor goes

504
00:27:42,240 --> 00:27:43,640
Speaker 1: into a lot of detail here, and I just want

505
00:27:43,640 --> 00:27:45,800
Speaker 1: to give you the summary of what happened from input.

506
00:27:45,840 --> 00:27:48,520
Speaker 1: So I'm gonna quote from there now where things get

507
00:27:48,560 --> 00:27:52,520
Speaker 1: interesting with the people purchases that Sundarson is selling fractional

508
00:27:52,600 --> 00:27:55,760
Speaker 1: ownership of the work through a new entity called Meta Purse,

509
00:27:56,080 --> 00:27:58,840
Speaker 1: a crypto based investment firm that has rolled up several

510
00:27:58,840 --> 00:28:02,280
Speaker 1: people pieces into a bundle. Anyone can purchase a small

511
00:28:02,960 --> 00:28:08,840
Speaker 1: state but I'll call my girls pussy a what's up selfie?

512
00:28:10,119 --> 00:28:13,919
Speaker 1: Her in Visilne hurts too much, she can she's laughing

513
00:28:13,960 --> 00:28:18,440
Speaker 1: on the inside. Anyone can purchase a small ownership stake

514
00:28:18,480 --> 00:28:21,560
Speaker 1: in the art collection by purchasing the company's B twenty token.

515
00:28:21,680 --> 00:28:23,960
Speaker 1: The hope would be that the works become more valuable

516
00:28:24,080 --> 00:28:27,680
Speaker 1: over time. Individuals are essentially buying into an index fund

517
00:28:27,680 --> 00:28:30,800
Speaker 1: of sorts. But when Sandarson created B twenty, he gave

518
00:28:30,880 --> 00:28:35,920
Speaker 1: himself of the outstanding tokens and People himself received two percent.

519
00:28:36,400 --> 00:28:39,440
Speaker 1: That would suggest that People and Sandarason were in cahoots

520
00:28:39,480 --> 00:28:42,440
Speaker 1: to add the five thousand Days piece to the Metapurse collection,

521
00:28:42,720 --> 00:28:44,600
Speaker 1: as doing so would drive up the price of the

522
00:28:44,600 --> 00:28:47,760
Speaker 1: fledging B twenty token and make them both money. So

523
00:28:47,920 --> 00:28:51,880
Speaker 1: People is like involved in a real business relationship with

524
00:28:51,960 --> 00:28:54,880
Speaker 1: the guy who quote unquote bought this artwork, and the

525
00:28:54,880 --> 00:28:57,160
Speaker 1: fact that it's sold for such a ridiculous price was

526
00:28:57,240 --> 00:28:59,680
Speaker 1: valuable because it raised the price of this is a

527
00:28:59,760 --> 00:29:02,640
Speaker 1: sin actually a coin that they're offering that represents a

528
00:29:02,680 --> 00:29:05,600
Speaker 1: fractional steak in the ownership of this collection of people art.

529
00:29:06,040 --> 00:29:09,880
Speaker 1: It's some a scam kinda. It seems like, I want

530
00:29:09,880 --> 00:29:12,400
Speaker 1: to make it clear, I'm not alleging that people or

531
00:29:12,440 --> 00:29:15,920
Speaker 1: Medicovin have done anything illegal. I just think it's I

532
00:29:15,960 --> 00:29:17,680
Speaker 1: think it's kind of a scam. It seems like it's

533
00:29:17,760 --> 00:29:22,280
Speaker 1: kind of a scam to me. Look, I am a comedian,

534
00:29:23,880 --> 00:29:28,480
Speaker 1: and that means a certified idiot. Also seems like a

535
00:29:28,600 --> 00:29:32,280
Speaker 1: huge scam. Yeah, Hey, and people made a bunch of money.

536
00:29:32,640 --> 00:29:34,880
Speaker 1: I don't Again, I don't have any reason to believe

537
00:29:35,160 --> 00:29:38,800
Speaker 1: they're a bad person or whatever other than the environmental

538
00:29:38,840 --> 00:29:40,880
Speaker 1: cost of n f t s. But yeah, it's hard

539
00:29:40,920 --> 00:29:44,680
Speaker 1: to take anything or anyone named people seriously. Yeah. But

540
00:29:44,720 --> 00:29:46,840
Speaker 1: at the same time, if I as an artist, someone

541
00:29:46,920 --> 00:29:50,120
Speaker 1: was like, hey, you want to make sixty million dollars

542
00:29:50,800 --> 00:29:53,240
Speaker 1: by giving me a bunch of sketches, you did, Yeah,

543
00:29:53,280 --> 00:29:56,320
Speaker 1: of course, Like, yes, I'm not going to pretend I'm

544
00:29:56,600 --> 00:29:59,760
Speaker 1: that good a person. I would a feverishly be drawing

545
00:30:00,000 --> 00:30:03,240
Speaker 1: you sketch up the night before. That are just bullshit,

546
00:30:03,600 --> 00:30:06,640
Speaker 1: just so somebody would feel like they were getting their

547
00:30:06,720 --> 00:30:10,600
Speaker 1: money wor like I think most people, even knowing the

548
00:30:10,680 --> 00:30:13,360
Speaker 1: environmental costs, to be like, well, yeah, I mean that's

549
00:30:13,480 --> 00:30:15,480
Speaker 1: enough money that no one in my family would ever

550
00:30:15,520 --> 00:30:18,200
Speaker 1: have a problem again that related to finances. Of course,

551
00:30:19,160 --> 00:30:21,920
Speaker 1: then maybe I could right some wrongs with my six

552
00:30:22,560 --> 00:30:26,240
Speaker 1: million dollars. Or I think the vast majority of people

553
00:30:26,240 --> 00:30:28,560
Speaker 1: would find a way to justify it to themselves. And

554
00:30:28,600 --> 00:30:31,320
Speaker 1: I'm sure I include myself in that right when nobody's

555
00:30:31,400 --> 00:30:34,840
Speaker 1: nobody's I'm not. Again, I don't while I'm saying I

556
00:30:34,880 --> 00:30:37,160
Speaker 1: think this is kind of a scam people's involved in.

557
00:30:37,240 --> 00:30:40,200
Speaker 1: I don't think it makes them like worse than most

558
00:30:40,240 --> 00:30:42,680
Speaker 1: other people, because I think most people would find a

559
00:30:42,720 --> 00:30:45,120
Speaker 1: way to judge you mean, most worse than most other

560
00:30:45,200 --> 00:30:51,320
Speaker 1: people's people's Yeah, it's no worse than most people's um

561
00:30:51,360 --> 00:30:54,120
Speaker 1: And to be fair, whatever people's doing here, because I

562
00:30:54,160 --> 00:30:56,680
Speaker 1: don't think we know fully like what's going on here,

563
00:30:56,920 --> 00:30:59,480
Speaker 1: it is way less of a direct scam than like,

564
00:30:59,760 --> 00:31:03,760
Speaker 1: you know, all the people just robbing folks like dump.

565
00:31:03,840 --> 00:31:05,600
Speaker 1: I guess so it seems like it's kind of a

566
00:31:05,600 --> 00:31:08,840
Speaker 1: pump and dump. But whatever. And to talk about the

567
00:31:08,920 --> 00:31:14,600
Speaker 1: really stipend is what they call Robert's girls. Christ I'm

568
00:31:14,640 --> 00:31:21,040
Speaker 1: so sorry, Sophia, it's a little far. You send me

569
00:31:21,160 --> 00:31:24,760
Speaker 1: five knives and they go right to my head. Yeah,

570
00:31:24,800 --> 00:31:26,880
Speaker 1: you just want more knives, and you know the way

571
00:31:26,960 --> 00:31:29,520
Speaker 1: to do that is by making weird sex jokes that

572
00:31:29,520 --> 00:31:36,320
Speaker 1: are gonna get me. Have people send me very uncomfortable messages. Look,

573
00:31:36,400 --> 00:31:38,840
Speaker 1: everybody who listens to you and Sophie is trying to fun.

574
00:31:39,040 --> 00:31:42,200
Speaker 1: I hope you know that. Oh that's not that's not good.

575
00:31:42,520 --> 00:31:44,640
Speaker 1: You have to think about it every night now before

576
00:31:44,640 --> 00:31:51,080
Speaker 1: you go to sleep. Yeah, it looks even more pain

577
00:31:51,160 --> 00:31:53,760
Speaker 1: than she is by her and visaligned. For the record,

578
00:31:53,840 --> 00:31:57,120
Speaker 1: I don't fuck. No, no, no sex, no sex for me,

579
00:31:57,240 --> 00:32:00,160
Speaker 1: thank you. Yeah, you just do mouth stuff. I heard that.

580
00:32:00,200 --> 00:32:04,200
Speaker 1: I just do math stuff. That's right, mouth stuff, you dummy.

581
00:32:05,480 --> 00:32:10,320
Speaker 1: Yeah I mean that too. It's kind of the same thing, right, Yeah,

582
00:32:10,440 --> 00:32:14,120
Speaker 1: you whisper formulas into your girl's mouth. I just read

583
00:32:14,160 --> 00:32:20,960
Speaker 1: out the address to different bitcoins that I own whisper

584
00:32:21,160 --> 00:32:27,640
Speaker 1: ethereum on her Clintie your number one move in the bedroom. Yeah,

585
00:32:27,760 --> 00:32:31,960
Speaker 1: that's what the ladies like is having whispering ethereum into

586
00:32:32,000 --> 00:32:35,760
Speaker 1: their genitals. That's how you that's how you win them.

587
00:32:35,800 --> 00:32:38,840
Speaker 1: If you're if you're looking for for advice on on

588
00:32:38,840 --> 00:32:43,080
Speaker 1: on slaying, slaying whatever genitals you want to slay, just

589
00:32:43,120 --> 00:32:51,160
Speaker 1: start whispering either good stuff. You gotta do a little

590
00:32:51,160 --> 00:32:53,200
Speaker 1: bit of a lip wobble and the um on the

591
00:32:53,240 --> 00:32:57,400
Speaker 1: clytie just so you know what. Nobody is getting fucked

592
00:32:57,440 --> 00:33:01,200
Speaker 1: as a result of my very favorite n f T

593
00:33:01,400 --> 00:33:05,280
Speaker 1: scam Evolved apes. This is what made me decide to

594
00:33:05,320 --> 00:33:08,000
Speaker 1: write this episode because it's just the funniest thing in

595
00:33:08,040 --> 00:33:12,280
Speaker 1: the entire goddamn world. So one thing that a lot

596
00:33:12,320 --> 00:33:15,240
Speaker 1: of critics will note is that an awful lot again

597
00:33:15,280 --> 00:33:17,560
Speaker 1: not all. There's some actually really good artists who have

598
00:33:17,600 --> 00:33:19,239
Speaker 1: made n f T s and some people who were

599
00:33:19,240 --> 00:33:21,840
Speaker 1: struggling for years and maybe like whatever, if you're if

600
00:33:21,840 --> 00:33:24,200
Speaker 1: you've struggled for thirty years and are finally making a

601
00:33:24,200 --> 00:33:26,640
Speaker 1: good living making real art because n f T has

602
00:33:26,640 --> 00:33:29,640
Speaker 1: have enabled that, that's great. That's not most of what

603
00:33:29,680 --> 00:33:31,520
Speaker 1: the most of the n f T is being sold

604
00:33:31,800 --> 00:33:34,880
Speaker 1: look like fucking shit. Um and most of the ones

605
00:33:34,960 --> 00:33:37,680
Speaker 1: being sold for a lot of money look like fucking shit,

606
00:33:38,160 --> 00:33:42,560
Speaker 1: and that makes it a victimless crime. I guess. Well

607
00:33:42,960 --> 00:33:46,080
Speaker 1: is if you think something is good, am I wrong?

608
00:33:46,320 --> 00:33:52,120
Speaker 1: Put a pin in that. So the Evolved apes were

609
00:33:52,160 --> 00:33:56,120
Speaker 1: part of a series of different like I think they're scams,

610
00:33:56,160 --> 00:33:58,840
Speaker 1: but we'll call them n f T schemes, Evolved apes,

611
00:33:58,880 --> 00:34:03,720
Speaker 1: political punks, lazy lions. They're basically garbage pale kids, but digital,

612
00:34:04,000 --> 00:34:06,000
Speaker 1: and they arrange in cost from a few bucks to

613
00:34:06,040 --> 00:34:09,120
Speaker 1: more than a hundred thousand dollars. And again they all

614
00:34:09,200 --> 00:34:11,839
Speaker 1: look like shit. So I'm going to show you these

615
00:34:11,840 --> 00:34:14,319
Speaker 1: in a second. But Evolved apes were described by their

616
00:34:14,360 --> 00:34:17,680
Speaker 1: founder on n f T marketplace Open Sea as a

617
00:34:17,719 --> 00:34:20,440
Speaker 1: collection of ten thousand unique n f T s trapped

618
00:34:20,480 --> 00:34:24,160
Speaker 1: inside a lawless land fighting for survival. This was a

619
00:34:24,160 --> 00:34:27,520
Speaker 1: way of plugging a claimed fighting game where players would

620
00:34:27,520 --> 00:34:29,719
Speaker 1: be able to use the unique n f T s

621
00:34:29,760 --> 00:34:33,040
Speaker 1: they purchased to battle each other. Here's what they look like.

622
00:34:34,000 --> 00:34:40,040
Speaker 1: Oh I like them? What is There's something wrong? Is there?

623
00:34:41,680 --> 00:34:45,080
Speaker 1: You like these little these terrible ape drawings? I really

624
00:34:45,120 --> 00:34:49,480
Speaker 1: like them. Well that's fascinating, as somebody fucking had to

625
00:34:50,040 --> 00:34:53,080
Speaker 1: they're all the same drawing. It's the same basic ape

626
00:34:53,120 --> 00:34:55,879
Speaker 1: drawing that like they stick different hair on and put

627
00:34:55,920 --> 00:34:59,800
Speaker 1: like glasses, or one of them is eating a burger

628
00:35:00,040 --> 00:35:03,520
Speaker 1: and blowing a bubble gum bubble, so you're wrong. And

629
00:35:03,560 --> 00:35:07,040
Speaker 1: one of them is wearing a necklace and one of

630
00:35:07,080 --> 00:35:10,040
Speaker 1: them has a glove on. Truly, can I say something

631
00:35:10,520 --> 00:35:15,520
Speaker 1: what I think? It appeals to me because I can't

632
00:35:15,520 --> 00:35:19,520
Speaker 1: tell people apart when they have changed one thing about themselves,

633
00:35:19,680 --> 00:35:22,959
Speaker 1: like a hat, or like you've got prosopagnosia or whatever

634
00:35:23,000 --> 00:35:26,080
Speaker 1: it is, face blindness. So to me, all those apes

635
00:35:26,120 --> 00:35:30,520
Speaker 1: are radically different. I guess maybe you're the market for

636
00:35:30,600 --> 00:35:35,120
Speaker 1: evolved apes. Um. So the entry fee to get like

637
00:35:35,200 --> 00:35:37,960
Speaker 1: a chance to buy these is two hundred and seventy

638
00:35:38,040 --> 00:35:43,120
Speaker 1: nine dollars or like point zero eight, ether that much.

639
00:35:43,960 --> 00:35:46,239
Speaker 1: The average price for the n f T s themselves

640
00:35:46,239 --> 00:35:49,480
Speaker 1: was around a hundred and eight dollars. The highest individual

641
00:35:49,560 --> 00:35:52,719
Speaker 1: ape that I found in terms of sales sold for

642
00:35:53,080 --> 00:35:56,319
Speaker 1: fourteen point three thousand dollars. And it's this fucking guy.

643
00:35:56,600 --> 00:35:59,879
Speaker 1: I was going to ask, what's the best ape? Well,

644
00:36:00,000 --> 00:36:02,560
Speaker 1: apparently this one. I don't know if this was the most,

645
00:36:02,640 --> 00:36:04,560
Speaker 1: but this is the most that I found in a

646
00:36:04,600 --> 00:36:10,840
Speaker 1: short amount of fucking googling. That's sold for four three dollars. No,

647
00:36:15,200 --> 00:36:18,760
Speaker 1: I think no, there should have been more ship going

648
00:36:18,840 --> 00:36:22,760
Speaker 1: on for that. I would agree with you there, Sophia.

649
00:36:22,880 --> 00:36:26,520
Speaker 1: But that's that's not that's not the way the cookie crumbled.

650
00:36:26,800 --> 00:36:29,560
Speaker 1: So again, and and part of the promise here was that,

651
00:36:29,640 --> 00:36:33,600
Speaker 1: like the Evolved Apes were, this was going to be

652
00:36:33,719 --> 00:36:36,640
Speaker 1: a like a video game, like a Mortal Kombat style

653
00:36:36,719 --> 00:36:39,279
Speaker 1: fighting game, and you'd get to use your n f

654
00:36:39,360 --> 00:36:43,160
Speaker 1: T s in the fighting game. Um, that's kind of cool.

655
00:36:43,960 --> 00:36:46,120
Speaker 1: It would be if it had, if it had happened,

656
00:36:46,440 --> 00:36:48,800
Speaker 1: Um that that might have been kind of me, although

657
00:36:48,840 --> 00:36:55,000
Speaker 1: the actual game itself, UM didn't. Here. I'll play you

658
00:36:55,080 --> 00:36:58,319
Speaker 1: a video, Sophia, I'll play you a video. I would

659
00:36:58,360 --> 00:37:00,680
Speaker 1: love that. Yeah, that was like one of the I

660
00:37:00,680 --> 00:37:04,160
Speaker 1: think ad videos for the Evolved Apes. Hi, I'm gonna

661
00:37:04,200 --> 00:37:06,080
Speaker 1: show you a video, but first there's an ad break

662
00:37:06,120 --> 00:37:08,560
Speaker 1: and come on, come on, rookie. Okay, well let's just

663
00:37:08,680 --> 00:37:11,240
Speaker 1: keep all this. And and that was us throwing two ads.

664
00:37:11,480 --> 00:37:16,200
Speaker 1: Was was Sophie saying that so good, ads, just do it.

665
00:37:16,280 --> 00:37:24,000
Speaker 1: Motherfucker's that sounds so means are your Dick Campussy and

666
00:37:24,080 --> 00:37:36,440
Speaker 1: it's been I'm sorry, So we're we're back. We're back, everybody.

667
00:37:36,480 --> 00:37:39,440
Speaker 1: And I'm trying to play the Evolved Apes trailer for

668
00:37:39,480 --> 00:37:42,040
Speaker 1: the fighting game that they were supposed to make, because

669
00:37:42,080 --> 00:37:44,880
Speaker 1: it looks like trash. And again, I can see the

670
00:37:44,920 --> 00:37:46,800
Speaker 1: I could see if there was like, oh, it's fifty

671
00:37:46,800 --> 00:37:48,919
Speaker 1: bucks and you buy a character and only you get

672
00:37:48,960 --> 00:37:51,279
Speaker 1: that character. It's unique and it levels up through time,

673
00:37:51,320 --> 00:37:52,960
Speaker 1: and like you can play in a fighting game with

674
00:37:53,000 --> 00:37:56,400
Speaker 1: other people for prizes that are worth real money. That's cool,

675
00:37:56,480 --> 00:37:58,920
Speaker 1: and there are some people like who have pushed ideas

676
00:37:58,960 --> 00:38:01,640
Speaker 1: with that, and it's not like groundbreaking in a world sense,

677
00:38:01,680 --> 00:38:03,359
Speaker 1: but it is like, oh, I could see that being

678
00:38:03,360 --> 00:38:06,719
Speaker 1: a fun thing for gaming. Um, this game looked like

679
00:38:06,800 --> 00:38:30,720
Speaker 1: fucking trash and I'm okay. The trailer for you now, Sophia. Yeah,

680
00:38:30,680 --> 00:38:35,800
Speaker 1: it just looks like shitty Mortal Kombat with monkeys. It does.

681
00:38:36,120 --> 00:38:38,960
Speaker 1: And I have to say they didn't choose the best

682
00:38:39,080 --> 00:38:43,680
Speaker 1: monkeys for their representation, because it should have been like monkeys.

683
00:38:43,680 --> 00:38:46,080
Speaker 1: They're so different looking that you would be like, WHOA,

684
00:38:46,280 --> 00:38:50,040
Speaker 1: I could design a monkey that was really cool different things,

685
00:38:50,400 --> 00:38:53,440
Speaker 1: But also monkeys aren't apes, so someone's gonna be roll

686
00:38:53,480 --> 00:38:55,360
Speaker 1: mad about that when they're listening to the game. The

687
00:38:55,440 --> 00:38:58,799
Speaker 1: point is they did not do a good job with

688
00:38:58,920 --> 00:39:03,320
Speaker 1: character design, and we are very upset about it. And like, again,

689
00:39:03,360 --> 00:39:05,560
Speaker 1: if this weren't all a giant grift, which we're getting to,

690
00:39:05,680 --> 00:39:07,480
Speaker 1: the cool version of this would be like, yeah, we're

691
00:39:07,480 --> 00:39:09,279
Speaker 1: bringing in a bunch of artists and they can just

692
00:39:09,320 --> 00:39:11,719
Speaker 1: like make whatever characters they want and if you think

693
00:39:11,760 --> 00:39:14,120
Speaker 1: it's cool, you can buy it and like, you know

694
00:39:14,320 --> 00:39:16,640
Speaker 1: the things you could have need. That could be a

695
00:39:16,680 --> 00:39:18,520
Speaker 1: really cool way to do a fighting game, and I'm

696
00:39:18,560 --> 00:39:20,040
Speaker 1: sure it could make a lot of money, and I

697
00:39:20,120 --> 00:39:22,319
Speaker 1: suspect someone will figure out how to do that and

698
00:39:22,360 --> 00:39:24,560
Speaker 1: it will finally be something cool that comes out of

699
00:39:24,640 --> 00:39:26,720
Speaker 1: n f T S. But that is not what happened

700
00:39:27,080 --> 00:39:29,560
Speaker 1: with the Evolved Apes, because this was a giant scam

701
00:39:29,600 --> 00:39:33,200
Speaker 1: from the beginning. A week after the project officially launched

702
00:39:33,239 --> 00:39:37,560
Speaker 1: with some four thousand apes sold, project developer Evil Ape,

703
00:39:37,640 --> 00:39:40,560
Speaker 1: the guy who started it, disappeared, taking down the company

704
00:39:40,600 --> 00:39:44,000
Speaker 1: Twitter account, deleting the website, and absconding with two point

705
00:39:44,120 --> 00:39:50,719
Speaker 1: seven million dollars in either. Yeah, there was literally just

706
00:39:50,800 --> 00:39:56,040
Speaker 1: a scamp. That's why its magician and again you should

707
00:39:56,040 --> 00:39:59,080
Speaker 1: have known. Investors should have known by how fucking shitty

708
00:39:59,080 --> 00:40:02,279
Speaker 1: it looked. But it's just like this irrational exuberance of like,

709
00:40:02,280 --> 00:40:05,120
Speaker 1: oh this could be I'm sure they're recognizing like what

710
00:40:05,160 --> 00:40:06,840
Speaker 1: I was just saying, like, oh, there are ways in

711
00:40:06,880 --> 00:40:09,759
Speaker 1: which you could do a neat game this way, and

712
00:40:09,800 --> 00:40:11,920
Speaker 1: they just didn't want to lose out in case this

713
00:40:11,960 --> 00:40:14,440
Speaker 1: was the neat game, and none of them, like I

714
00:40:14,800 --> 00:40:17,040
Speaker 1: thought about like, well does this look any good or

715
00:40:17,040 --> 00:40:22,040
Speaker 1: does it look like total ship? Um? A lot of

716
00:40:22,120 --> 00:40:26,000
Speaker 1: people could be asking themselves that question, does this look

717
00:40:26,040 --> 00:40:31,399
Speaker 1: good or does this look like because of fomo here?

718
00:40:31,719 --> 00:40:34,000
Speaker 1: Or am I actually buying into something I would want

719
00:40:34,000 --> 00:40:37,160
Speaker 1: to play? Do I want to have almost identical monkeys

720
00:40:37,200 --> 00:40:40,279
Speaker 1: with like shitty bling punch each other in a fighting game?

721
00:40:40,320 --> 00:40:42,359
Speaker 1: How long will that be? Interesting? Is this really worth

722
00:40:42,400 --> 00:40:46,439
Speaker 1: fourteen thousand dollars? This is how everyone got tricked into

723
00:40:46,480 --> 00:40:49,560
Speaker 1: mom jeans. You know, we can all agree they look

724
00:40:49,600 --> 00:40:52,200
Speaker 1: like ship and yet and yet, but at least you

725
00:40:52,280 --> 00:40:54,600
Speaker 1: have the genes when you when you get tricked by

726
00:40:54,640 --> 00:40:58,120
Speaker 1: momposed to do you if you're not getting fucked or

727
00:40:58,160 --> 00:41:03,719
Speaker 1: talk to because in them when you're alone crying at

728
00:41:03,760 --> 00:41:07,120
Speaker 1: your house in your actual sweatpands. Yeah. I mean I

729
00:41:07,160 --> 00:41:09,040
Speaker 1: haven't owned a pair of jeans and years because I

730
00:41:09,080 --> 00:41:11,840
Speaker 1: wear nothing but sweatpants. So I agree. I think normal

731
00:41:11,880 --> 00:41:14,080
Speaker 1: pants are a grift, but at least you have the

732
00:41:14,120 --> 00:41:20,279
Speaker 1: pants physically. They they do exist. Yeah. So when the crip,

733
00:41:20,440 --> 00:41:23,800
Speaker 1: like when this guy disappeared and the evolved apes community

734
00:41:23,840 --> 00:41:27,239
Speaker 1: eventually realized they'd been had, they basically like appointed the

735
00:41:27,280 --> 00:41:29,760
Speaker 1: guy who had spent the most money on them, whose

736
00:41:29,840 --> 00:41:34,919
Speaker 1: online name is Mike Underscore Crypto bowl Um, and made

737
00:41:35,000 --> 00:41:38,800
Speaker 1: him in charge of investigating what had happened. Uh, based

738
00:41:38,840 --> 00:41:40,800
Speaker 1: on the fact that he had spent like ten thousand

739
00:41:40,840 --> 00:41:48,560
Speaker 1: dollars on fucking monkey JPEGs UM. So yeah, very sad

740
00:41:48,680 --> 00:41:50,520
Speaker 1: to be that guy, to be the guy who's like, hey,

741
00:41:50,560 --> 00:41:52,640
Speaker 1: you have to be our leader because he lost the

742
00:41:52,680 --> 00:41:56,919
Speaker 1: most money off of the stupid monkey grift. Um. Mike

743
00:41:57,160 --> 00:42:00,719
Speaker 1: wrote up a report and informed the community regretfully that

744
00:42:00,760 --> 00:42:03,840
Speaker 1: they had all been conned that the artist had not

745
00:42:04,000 --> 00:42:06,959
Speaker 1: even been paid. So again, the actual guy who made

746
00:42:07,160 --> 00:42:10,880
Speaker 1: this terrible monkey arc didn't see a dime. Uh, he

747
00:42:11,000 --> 00:42:13,520
Speaker 1: got conned into making the art and then somebody else

748
00:42:13,520 --> 00:42:16,960
Speaker 1: profited off of it and disappeared, which is very funny. Um,

749
00:42:17,200 --> 00:42:22,040
Speaker 1: Mike told Vice that he had some. Yeah, And the

750
00:42:22,080 --> 00:42:25,040
Speaker 1: saddest thing is that when he was interviewed by Vice,

751
00:42:25,320 --> 00:42:27,880
Speaker 1: Mike told the reporter that he in a bunch of

752
00:42:27,880 --> 00:42:31,080
Speaker 1: Evolved Apes fans, had promised to quote build a new

753
00:42:31,160 --> 00:42:34,200
Speaker 1: project called fight Back Apes out of the ashes of

754
00:42:34,239 --> 00:42:37,680
Speaker 1: Evolved Apes. Evolved Apes holders would automatically be approved for

755
00:42:37,719 --> 00:42:40,480
Speaker 1: a fight Back Apes token linked with art from the

756
00:42:40,520 --> 00:42:43,840
Speaker 1: old project. And this is what This was his exact quote.

757
00:42:44,040 --> 00:42:46,279
Speaker 1: We will become the fight Back Apes, fighting as a

758
00:42:46,320 --> 00:42:52,040
Speaker 1: community against our nemesis, evil Ape. All Right, that's the

759
00:42:53,000 --> 00:42:58,000
Speaker 1: ever read, the saddest thing I've ever read in Metaphors

760
00:42:58,040 --> 00:43:02,799
Speaker 1: and Analogies packet. There are war crimes less depressive than

761
00:43:02,840 --> 00:43:06,480
Speaker 1: that sentence to Virgin City where no one will ever

762
00:43:06,600 --> 00:43:11,200
Speaker 1: touch you. Yeah, I fucking loser. It's so sad, like,

763
00:43:12,400 --> 00:43:16,040
Speaker 1: he's not your nemesis, You're not fighting back. He stole

764
00:43:16,080 --> 00:43:20,799
Speaker 1: your money and continuing to own pictures of monkeys that

765
00:43:20,840 --> 00:43:24,120
Speaker 1: are held on the blockchain does not fight back in

766
00:43:24,160 --> 00:43:28,160
Speaker 1: any meaningful way. Um, it's very funny. It's so sad,

767
00:43:28,760 --> 00:43:30,799
Speaker 1: And the funniest thing about it is that the fact

768
00:43:30,880 --> 00:43:32,799
Speaker 1: that evolved apes turned out to be nothing, but a

769
00:43:32,840 --> 00:43:36,920
Speaker 1: scam hasn't stopped them from selling on openca, which is

770
00:43:36,920 --> 00:43:39,440
Speaker 1: one of the the n f T marketplaces. In the

771
00:43:39,560 --> 00:43:43,320
Speaker 1: days after the scam was revealed, forty thousand, two thirty

772
00:43:43,360 --> 00:43:45,680
Speaker 1: dollars worth of APE n f T s were sold.

773
00:43:46,080 --> 00:43:48,560
Speaker 1: One of all dapes buyer told Vice that they believed

774
00:43:48,560 --> 00:43:50,920
Speaker 1: people had fallen for the scam in part because they

775
00:43:50,960 --> 00:43:54,759
Speaker 1: were quote blinded by the art and the promises, which

776
00:43:54,840 --> 00:44:02,359
Speaker 1: is almost apes planted by the apes wrapped up like

777
00:44:02,440 --> 00:44:08,080
Speaker 1: a yeah, I don't know, um, and of course the

778
00:44:08,120 --> 00:44:15,520
Speaker 1: grift never INDs another another. But one of these you know,

779
00:44:15,960 --> 00:44:18,359
Speaker 1: basically again like trading card n f T things, where

780
00:44:18,360 --> 00:44:21,640
Speaker 1: there's a bunch of different pictures, uh that you you

781
00:44:21,719 --> 00:44:25,200
Speaker 1: buy access to one picture in the set. The most

782
00:44:25,200 --> 00:44:27,319
Speaker 1: popular of them, or one of those popular of them

783
00:44:27,400 --> 00:44:30,279
Speaker 1: is political punks. Again, this is like an n f

784
00:44:30,320 --> 00:44:32,279
Speaker 1: T card set. I don't know what's punk about them.

785
00:44:32,280 --> 00:44:35,560
Speaker 1: They're just eight bit representations of famous people. They don't

786
00:44:35,600 --> 00:44:39,920
Speaker 1: seem punk at all. Actually, um, the average prices in

787
00:44:40,000 --> 00:44:44,200
Speaker 1: their famous pursuit of money. Yeah, that's what makes something punk.

788
00:44:44,760 --> 00:44:48,959
Speaker 1: And like they don't even look good. Um, Like I said,

789
00:44:48,960 --> 00:44:53,680
Speaker 1: they're just like eight bit portraits, like of of famous

790
00:44:53,719 --> 00:44:57,600
Speaker 1: people that you wouldn't generally recognize as a famous person

791
00:44:58,000 --> 00:45:01,279
Speaker 1: if you didn't like see it, like the most recognizable

792
00:45:01,320 --> 00:45:04,600
Speaker 1: here's the David Bowie one. Um, well you should have

793
00:45:04,600 --> 00:45:07,600
Speaker 1: told me who it was, because I would like to guess. Well,

794
00:45:07,640 --> 00:45:09,520
Speaker 1: you'll you'll recognize it. I'm gonna send you just the

795
00:45:09,560 --> 00:45:14,600
Speaker 1: Twitter link here. Uh that's so bad. Yeah, they're just

796
00:45:14,640 --> 00:45:18,319
Speaker 1: like eight bit little portraits. They're terrible. Yeah, I mean

797
00:45:18,320 --> 00:45:19,960
Speaker 1: they'd be fine if it was just like, oh, I

798
00:45:20,000 --> 00:45:22,640
Speaker 1: want to have a forum avatar. That's an eight bit portrait,

799
00:45:22,760 --> 00:45:29,000
Speaker 1: Like that's first people for the price of like a new,

800
00:45:29,360 --> 00:45:35,080
Speaker 1: brand new, high quality car. Like that's not David Bowie.

801
00:45:35,400 --> 00:45:39,600
Speaker 1: That's a man that has had a severe sword injury.

802
00:45:42,000 --> 00:45:45,959
Speaker 1: Clear what it is. He's been slashed across his face

803
00:45:46,080 --> 00:45:50,759
Speaker 1: Tierrian style, and it is very insensitive of you to

804
00:45:50,840 --> 00:45:56,520
Speaker 1: not recognize that next to him is clearly his go

805
00:45:56,800 --> 00:46:01,439
Speaker 1: wife And there is no reason that you should think

806
00:46:01,520 --> 00:46:06,400
Speaker 1: that she's not gorgeous and hashtag all goats matter and

807
00:46:06,960 --> 00:46:13,560
Speaker 1: you're sad for not recognizing her. Yeah, all goats matter.

808
00:46:13,840 --> 00:46:18,480
Speaker 1: So the average price for one of these fucking shitty

809
00:46:18,560 --> 00:46:22,880
Speaker 1: eight bit Portraits is about eleven dollars. Now that's the

810
00:46:22,960 --> 00:46:26,080
Speaker 1: average price. That's get so much good art for that,

811
00:46:26,200 --> 00:46:28,879
Speaker 1: and honestly, take it from an art consultant, you can

812
00:46:28,880 --> 00:46:33,879
Speaker 1: get some nice limited edition prints for way less than that,

813
00:46:33,960 --> 00:46:39,960
Speaker 1: like several of them. Just wait, Sophia, because one of

814
00:46:40,000 --> 00:46:44,080
Speaker 1: the most expensive of these political punks was the Satoshi

815
00:46:44,160 --> 00:46:46,960
Speaker 1: Nakamoto punk, which is a digital that means number one,

816
00:46:46,960 --> 00:46:49,000
Speaker 1: that would be a digital representation of a person whose

817
00:46:49,000 --> 00:46:51,960
Speaker 1: identity is unknown because Setoshi Nakamoto is a pseudonym and

818
00:46:52,000 --> 00:46:54,680
Speaker 1: no one knows who he really is. It's essentially a

819
00:46:54,680 --> 00:46:58,960
Speaker 1: picture of Santa. Yeah, this digital Santa picture sold for

820
00:46:59,080 --> 00:47:04,960
Speaker 1: more than sixty four thousand dollars. Yes, because Anta is

821
00:47:05,000 --> 00:47:08,000
Speaker 1: never gonna bring you enough presents to make up for that.

822
00:47:08,040 --> 00:47:11,720
Speaker 1: You could buy like a fully loaded Toyota Tacoma for

823
00:47:12,200 --> 00:47:15,560
Speaker 1: that much money, like what you could buy a house

824
00:47:15,640 --> 00:47:17,960
Speaker 1: and a lot of Yeah, that's a down payment on

825
00:47:18,000 --> 00:47:22,960
Speaker 1: a house, like yeah, it's very silly. Um I guess

826
00:47:22,960 --> 00:47:25,120
Speaker 1: the Paul Red one is coming soon, so that's going

827
00:47:25,160 --> 00:47:27,040
Speaker 1: to be exciting. I'm sure that'll sell for a lot

828
00:47:27,040 --> 00:47:32,280
Speaker 1: of money. Um My fulle alarm for that and yeah.

829
00:47:32,600 --> 00:47:37,600
Speaker 1: The grift, of course, never ends. Political Punks uh the

830
00:47:37,600 --> 00:47:40,920
Speaker 1: Twitter account um after the Evolved Apes debacle. When like

831
00:47:41,040 --> 00:47:43,160
Speaker 1: it came became clear that that had all been a

832
00:47:43,160 --> 00:47:46,360
Speaker 1: giant scam, the developer of Political Punks posted this on

833
00:47:46,400 --> 00:47:49,919
Speaker 1: Twitter to anyone who was affected in the Evolved Apes

834
00:47:50,040 --> 00:47:52,480
Speaker 1: rug pool. We will be opening up two hundred pre

835
00:47:52,560 --> 00:47:56,200
Speaker 1: sale spots for our upcoming gin two pleab punks meant

836
00:47:56,680 --> 00:47:59,840
Speaker 1: come join our community, vibe and have fun. We welcome

837
00:47:59,880 --> 00:48:03,759
Speaker 1: you with open arms. Had this idea after seeing uh

838
00:48:04,120 --> 00:48:07,759
Speaker 1: at boosts take action all love. We are set to

839
00:48:07,800 --> 00:48:10,560
Speaker 1: make a blockchain game similar but a hundred times better

840
00:48:10,560 --> 00:48:13,160
Speaker 1: than the one promised over it Evolved Apes. Read our

841
00:48:13,239 --> 00:48:16,120
Speaker 1: roadmap for more info. It saddens me deeply to see

842
00:48:16,160 --> 00:48:19,799
Speaker 1: people lose immense amounts of hard earned money to such scumbags.

843
00:48:19,920 --> 00:48:23,120
Speaker 1: Spread the love so becasually saying like, hey guys, I'll

844
00:48:23,200 --> 00:48:25,640
Speaker 1: let you buy some of my shitty drawings because you

845
00:48:25,760 --> 00:48:28,560
Speaker 1: got scammed out of your old shitty drawings. I totally

846
00:48:28,600 --> 00:48:30,919
Speaker 1: promise we're going to make an even better video game.

847
00:48:31,840 --> 00:48:35,160
Speaker 1: The responses to this post are some of again the

848
00:48:35,200 --> 00:48:38,560
Speaker 1: saddest things I've ever read. One person said, I have

849
00:48:38,680 --> 00:48:43,360
Speaker 1: two Evolved ape, how can I participate heart emoji? Another

850
00:48:43,400 --> 00:48:46,279
Speaker 1: person said I had stupidly got five? How do we

851
00:48:46,320 --> 00:48:49,640
Speaker 1: apply for a spot? And another person said, thanks for

852
00:48:49,680 --> 00:48:52,160
Speaker 1: giving us evolved apes new hope after what happened to

853
00:48:52,239 --> 00:48:59,279
Speaker 1: us much appreciated all of these people. It's remarkable to

854
00:48:59,320 --> 00:49:05,000
Speaker 1: see the same language used by the same people that like, again,

855
00:49:05,320 --> 00:49:10,279
Speaker 1: do these like women's MLM's you know, like Lula Rowe

856
00:49:10,360 --> 00:49:15,160
Speaker 1: and etcetera, that are just like all of boss babes

857
00:49:15,239 --> 00:49:19,279
Speaker 1: just want to see you thrive all love. And it's

858
00:49:19,320 --> 00:49:21,399
Speaker 1: like they think if they use the word love enough,

859
00:49:21,440 --> 00:49:24,200
Speaker 1: like people will just be like, that's sincere. And then

860
00:49:24,239 --> 00:49:26,439
Speaker 1: when you're reading these comments, so it's like, oh, yeah,

861
00:49:26,480 --> 00:49:32,919
Speaker 1: people do believe that. That's what's fucking sad. Yeah, and god,

862
00:49:32,960 --> 00:49:37,200
Speaker 1: they're all just so. So there's another one of these

863
00:49:37,239 --> 00:49:40,760
Speaker 1: fucking scams is called Lazy Lions, and it's just again

864
00:49:40,800 --> 00:49:43,799
Speaker 1: it's like the same lion drawing with slight differences, like

865
00:49:43,840 --> 00:49:48,840
Speaker 1: there's a link to it here and there's dollars a

866
00:49:48,880 --> 00:49:50,719
Speaker 1: bunch of them and they like they look like this.

867
00:49:50,880 --> 00:49:54,880
Speaker 1: They just all it's so fucking lazy, Like again with

868
00:49:54,920 --> 00:49:59,000
Speaker 1: the promise finally getting paid, like The art is just

869
00:49:59,080 --> 00:50:02,640
Speaker 1: so consistently shitty with this stuff. Like some of these

870
00:50:02,680 --> 00:50:07,800
Speaker 1: are selling for like thousand ether Yeah, I like that

871
00:50:07,880 --> 00:50:12,040
Speaker 1: has more than this. The the lazy lions, there's not

872
00:50:12,120 --> 00:50:15,680
Speaker 1: even an artist. They're algorithmically generated. Yeah, you can tell

873
00:50:16,480 --> 00:50:19,560
Speaker 1: fucking lions are bullshit. You're not even paying for something

874
00:50:19,560 --> 00:50:23,400
Speaker 1: a guy drew, like it's just a computer generated a

875
00:50:23,480 --> 00:50:26,239
Speaker 1: shitty drawing of a of a lion wearing like a

876
00:50:26,320 --> 00:50:32,399
Speaker 1: fucking catcher's uniform or some bullshit. You're disrespecting yourself for money.

877
00:50:32,440 --> 00:50:39,080
Speaker 1: This is shameful. This is absolutely shameful that the garbage. Yeah,

878
00:50:39,120 --> 00:50:42,160
Speaker 1: but yeah, the it's they're selling for thousands of dollars apiece.

879
00:50:42,920 --> 00:50:46,200
Speaker 1: I think most of the people that I know, like

880
00:50:46,280 --> 00:50:49,080
Speaker 1: most of my friends, spent less on their used cars

881
00:50:49,080 --> 00:50:54,000
Speaker 1: than like a lot of these are selling for. Um uh.

882
00:50:54,040 --> 00:50:57,120
Speaker 1: It's just incredibly sad to see someone posting about how

883
00:50:57,200 --> 00:51:00,279
Speaker 1: excited they are they bought a shitty d srwing of

884
00:51:00,280 --> 00:51:04,000
Speaker 1: a lion generated by a computer for as much money

885
00:51:04,000 --> 00:51:05,960
Speaker 1: as they could have spent on like a used Prius

886
00:51:06,080 --> 00:51:08,200
Speaker 1: that would have lasted them ten years. Like it's just

887
00:51:08,560 --> 00:51:12,000
Speaker 1: and of course in doing it, they're pissing carbon into

888
00:51:12,000 --> 00:51:16,520
Speaker 1: the atmosphere at a huge rate UM, which is also

889
00:51:16,640 --> 00:51:19,479
Speaker 1: awesome because again, all n f T s that they're

890
00:51:19,480 --> 00:51:23,440
Speaker 1: in the ether blockchain UM at the moment, the total

891
00:51:23,480 --> 00:51:28,640
Speaker 1: amount of power generated in order to you know, run

892
00:51:28,680 --> 00:51:32,279
Speaker 1: the Ethereum blockchain is comparable to the power consumption of

893
00:51:32,280 --> 00:51:38,920
Speaker 1: the nation of Bangladesh. Oh yeah, a little yeah, famously

894
00:51:39,000 --> 00:51:42,799
Speaker 1: small country, Bangladesh, with a population of a hundred and

895
00:51:42,840 --> 00:51:46,680
Speaker 1: sixty four million people. Yeah, just tiny, just tiny, little baby,

896
00:51:46,760 --> 00:51:51,120
Speaker 1: little Bangladesh, half the population of the United States. Quench

897
00:51:51,200 --> 00:51:56,840
Speaker 1: a little baby bash. Yeah. Ethereum is has a carbon

898
00:51:56,880 --> 00:52:03,920
Speaker 1: footprint comparable to the nation of New Zealand, which is great. Yeah.

899
00:52:04,120 --> 00:52:07,800
Speaker 1: Every single Ethereum transaction is equivalent to the power consumption

900
00:52:07,840 --> 00:52:12,239
Speaker 1: of an average US household over six days. Um. So

901
00:52:12,320 --> 00:52:15,640
Speaker 1: that's that's cool. Hey, it uses slightly less power than Chile,

902
00:52:16,520 --> 00:52:20,879
Speaker 1: So that's good. Yeah, slightly less power than an Asian

903
00:52:20,920 --> 00:52:31,600
Speaker 1: at Chile. You're always saying that, Oh God, so I

904
00:52:31,600 --> 00:52:33,480
Speaker 1: don't know what are you? What are you? What are

905
00:52:33,480 --> 00:52:35,720
Speaker 1: you doing? What are you doing? What are we all doing?

906
00:52:36,480 --> 00:52:40,480
Speaker 1: To me? Personally, I am slowly dying and pretending that

907
00:52:40,680 --> 00:52:43,040
Speaker 1: there's some good that I can do while I'm here

908
00:52:43,120 --> 00:52:46,440
Speaker 1: and trying to do the good. What are you doing? Um,

909
00:52:46,480 --> 00:52:49,320
Speaker 1: I'm that, but not trying to pretend to do good anymore,

910
00:52:49,480 --> 00:52:54,759
Speaker 1: just trying to just trying to make enough money to

911
00:52:54,840 --> 00:52:59,279
Speaker 1: buy a house and then hide from the rest of

912
00:52:59,320 --> 00:53:03,920
Speaker 1: the world forever because I love that for you. What

913
00:53:04,160 --> 00:53:06,080
Speaker 1: what else are you going to do? What? What else

914
00:53:06,080 --> 00:53:10,200
Speaker 1: are you going to do? After realizing this sheer mass

915
00:53:10,239 --> 00:53:13,920
Speaker 1: of human ingenuity and the enormous amount of resources that

916
00:53:13,960 --> 00:53:17,200
Speaker 1: are going into getting some guy rich for selling algorithmically

917
00:53:17,239 --> 00:53:23,160
Speaker 1: generated lion drawings. No, yeah, it's bleak. So I want

918
00:53:23,200 --> 00:53:26,239
Speaker 1: to end by reading something from the book Attack of

919
00:53:26,280 --> 00:53:29,759
Speaker 1: the fifty Foot Blockchain. It's called a Bitcoin fact, you know,

920
00:53:29,800 --> 00:53:33,920
Speaker 1: f a Q, and it's what opens the book. Question

921
00:53:34,000 --> 00:53:39,319
Speaker 1: number one? Should I buy bitcoins? Answer no? Question number two?

922
00:53:39,640 --> 00:53:41,520
Speaker 1: But I keep seeing all this stuff in the news

923
00:53:41,600 --> 00:53:46,040
Speaker 1: about them, and how answer no. Tech journalism is uniformly terrible.

924
00:53:46,160 --> 00:53:49,799
Speaker 1: Always remember this question three. How does it work? It

925
00:53:49,880 --> 00:53:53,320
Speaker 1: doesn't make any sense? No, it really doesn't. It's impossible

926
00:53:53,320 --> 00:53:56,280
Speaker 1: to accurately explain bitcoin and anything less than mine numbingly

927
00:53:56,360 --> 00:53:59,440
Speaker 1: boring technical terms, so you should probably just not worry

928
00:53:59,440 --> 00:54:02,759
Speaker 1: about it. Um. I could have written that, and I

929
00:54:02,840 --> 00:54:06,360
Speaker 1: know nothing about bitcoin other than it's a scam, and

930
00:54:06,440 --> 00:54:10,080
Speaker 1: I think that's what we all know now. Great. Yeah,

931
00:54:10,200 --> 00:54:12,480
Speaker 1: And if you want to learn enough about bitcoin to

932
00:54:12,719 --> 00:54:17,440
Speaker 1: argue with the people who love bitcoin and explain in

933
00:54:17,520 --> 00:54:21,800
Speaker 1: detail why they're dumb, I do recommend David Gerard's attack

934
00:54:21,840 --> 00:54:24,560
Speaker 1: of the fifty ft blockchain. But if you just want

935
00:54:24,600 --> 00:54:26,960
Speaker 1: to continue to be like, yeah, Bitcoin seems stupid as shit,

936
00:54:27,040 --> 00:54:30,319
Speaker 1: I'm not going to get involved, that's also fine. I

937
00:54:30,360 --> 00:54:32,120
Speaker 1: kind of feel like I want to read this book.

938
00:54:32,960 --> 00:54:36,920
Speaker 1: It's good just get into arguments with like men I

939
00:54:36,960 --> 00:54:39,600
Speaker 1: hate at bars and get them to buy me drinks

940
00:54:39,640 --> 00:54:45,960
Speaker 1: because I'm right, I mean fucking bitcoin or whatever exactly.

941
00:54:46,120 --> 00:54:48,520
Speaker 1: But like normally I do way less work for that.

942
00:54:48,560 --> 00:54:53,560
Speaker 1: But like you know, pandemic made me feel lonely. So yeah,

943
00:54:53,560 --> 00:54:59,000
Speaker 1: we're all there. Well, so if you sure, thank you, Robert.

944
00:54:59,120 --> 00:55:01,520
Speaker 1: You can follow me on Twitter and Instagram at the

945
00:55:01,600 --> 00:55:04,880
Speaker 1: Sophia so f I y A, and you can listen

946
00:55:04,920 --> 00:55:08,000
Speaker 1: to my two podcasts, one about love and sex around

947
00:55:08,000 --> 00:55:11,520
Speaker 1: the world called Private Parts Unknown, and the other one

948
00:55:12,160 --> 00:55:17,200
Speaker 1: about nine called four twenty Fiance with Miles Gray from

949
00:55:17,200 --> 00:55:23,960
Speaker 1: The Daily Saygeist. Miles Gray from the dayly sitegeist. That's right,

950
00:55:24,640 --> 00:55:27,600
Speaker 1: that's right, all right, Well, that's gonna do it for

951
00:55:27,719 --> 00:55:30,040
Speaker 1: us this week. It's gonna do it for you too.

952
00:55:30,200 --> 00:55:32,759
Speaker 1: So don't listen to any other podcasts until we drop

953
00:55:32,800 --> 00:55:36,200
Speaker 1: another episode. Go home, throw your phone in the river.

954
00:55:37,760 --> 00:55:41,239
Speaker 1: Attack infrastructure to stop other people from listening to podcasts

955
00:55:41,280 --> 00:55:48,200
Speaker 1: until we drop another episode. Whoa we just I'm Robert Evans.

956
00:55:48,280 --> 00:55:50,960
Speaker 1: This is Sophia. We just sailed in from the future,

957
00:55:51,520 --> 00:55:54,319
Speaker 1: which is actually still the past to you listening to this,

958
00:55:54,520 --> 00:55:59,320
Speaker 1: but is the future to us who recorded this episode initially. Sophia,

959
00:55:59,400 --> 00:56:03,000
Speaker 1: how was the time I'm stream treating you? Um a little.

960
00:56:03,239 --> 00:56:06,399
Speaker 1: I'm a little sick from the time travel. Honestly, I'll

961
00:56:06,400 --> 00:56:09,240
Speaker 1: be honest with you. We we got to meet George

962
00:56:09,239 --> 00:56:14,239
Speaker 1: Carlin though. That was neat, that was dope, unexpected, unexpected. Yeah,

963
00:56:14,320 --> 00:56:16,359
Speaker 1: he we told him about a bunch of bad ship

964
00:56:16,440 --> 00:56:23,040
Speaker 1: and he did not seem surprised. Um. No, he was, however,

965
00:56:23,120 --> 00:56:28,640
Speaker 1: surprised that you can still be a rapist and a comedian.

966
00:56:30,239 --> 00:56:38,440
Speaker 1: He was like, ha, I thought, surely, no, Okay, Yeah, anyway,

967
00:56:38,520 --> 00:56:41,400
Speaker 1: good times. I We're coming. We're hopping in here. At

968
00:56:41,400 --> 00:56:44,160
Speaker 1: the end of our last episode, because there's some stuff

969
00:56:44,200 --> 00:56:48,560
Speaker 1: I didn't I didn't read last time that I wanted

970
00:56:48,600 --> 00:56:50,640
Speaker 1: to make a note of because it's kind of important

971
00:56:50,680 --> 00:56:54,480
Speaker 1: for understanding what's happening with n f T s UM,

972
00:56:54,560 --> 00:56:57,560
Speaker 1: because I would cru yeah, pretty cruize. I want to

973
00:56:57,560 --> 00:57:00,920
Speaker 1: get across, like what's actually lead going on, because we

974
00:57:01,000 --> 00:57:03,760
Speaker 1: talked about like how it's a con and like how

975
00:57:03,800 --> 00:57:07,600
Speaker 1: how bad an investment it is, and how much of

976
00:57:07,640 --> 00:57:09,560
Speaker 1: like the claims being maybe I'm any of the people

977
00:57:09,600 --> 00:57:12,319
Speaker 1: involved air grifters, but I don't think we really got

978
00:57:12,320 --> 00:57:15,160
Speaker 1: at I think I think the episode as it is

979
00:57:15,200 --> 00:57:17,120
Speaker 1: could leave people with the opinion that like, well, maybe

980
00:57:17,120 --> 00:57:20,080
Speaker 1: this is like a Pokemon thing, right, where like it

981
00:57:20,160 --> 00:57:22,160
Speaker 1: seems dumb to a lot of people, but it has

982
00:57:22,280 --> 00:57:25,200
Speaker 1: legs for years and years and years and years because

983
00:57:25,200 --> 00:57:28,000
Speaker 1: there's just some great need to own like little pictures

984
00:57:28,000 --> 00:57:31,920
Speaker 1: of monkeys that you pay absurd amounts of money for UM,

985
00:57:31,960 --> 00:57:34,800
Speaker 1: and I wanted to I think the context that's lacking

986
00:57:34,880 --> 00:57:38,240
Speaker 1: is like money laundering UM, and why like how how

987
00:57:38,320 --> 00:57:40,800
Speaker 1: n f T s relate to money laundering UM? For

988
00:57:40,920 --> 00:57:43,680
Speaker 1: years and for decades really since World War Two, one

989
00:57:43,720 --> 00:57:45,920
Speaker 1: of the best ways to launder money has been to

990
00:57:46,040 --> 00:57:49,280
Speaker 1: invest in art um And there's a good quote from

991
00:57:49,360 --> 00:57:51,000
Speaker 1: Natural Law Review that I'm going to read that kind

992
00:57:51,000 --> 00:57:54,080
Speaker 1: of explains how the art industry works in terms of

993
00:57:54,120 --> 00:57:57,480
Speaker 1: like being a money laundering vehicle. Um art is an

994
00:57:57,520 --> 00:57:59,840
Speaker 1: attractive vehicle to launder money. It can be hidden or

995
00:57:59,840 --> 00:58:02,360
Speaker 1: some ugle. Transactions often are private, and prices can be

996
00:58:02,400 --> 00:58:06,200
Speaker 1: subjective and manipulated, as well as extremely high. Once purchased,

997
00:58:06,240 --> 00:58:08,600
Speaker 1: the art can disappear from view for years, even decades.

998
00:58:08,680 --> 00:58:10,520
Speaker 1: A lot of the art bought at auctions goes to

999
00:58:10,640 --> 00:58:14,800
Speaker 1: Freeport's ultra secure warehouses for the collections of millionaires and billionaires,

1000
00:58:15,080 --> 00:58:18,520
Speaker 1: ranging from picassos and gold to vintage ferraris and fine wine.

1001
00:58:18,800 --> 00:58:22,040
Speaker 1: The free ports which exist in Switzerland, Luxembourg and Singapore

1002
00:58:22,280 --> 00:58:24,960
Speaker 1: offer a variety of tax advantages because the goods stored

1003
00:58:24,960 --> 00:58:29,240
Speaker 1: in them are technically in transit. The Economist magazine Switzerland,

1004
00:58:29,440 --> 00:58:34,000
Speaker 1: I know, right, come on there. Since fucking World War Two,

1005
00:58:34,080 --> 00:58:37,040
Speaker 1: you fucking bastard, they are the top of the global

1006
00:58:37,080 --> 00:58:42,600
Speaker 1: grift chain. Absolutely, God damnit, beautiful country. Good on you, Switzerland. Look,

1007
00:58:42,640 --> 00:58:44,640
Speaker 1: someone had to be the best at it, you know,

1008
00:58:45,480 --> 00:58:49,560
Speaker 1: and it's not the United States. Chocolate's not even that good.

1009
00:58:50,120 --> 00:58:52,920
Speaker 1: Sons of No, it's not. It's absolutely not. Although it's

1010
00:58:52,720 --> 00:58:56,120
Speaker 1: a it's beautiful country to fly into. Um. So the

1011
00:58:56,120 --> 00:58:59,200
Speaker 1: the economist estimates that the freeport at Geneva, by the way,

1012
00:58:59,200 --> 00:59:02,720
Speaker 1: speaking of Switzer alone has a hundred billion dollars in

1013
00:59:02,840 --> 00:59:11,880
Speaker 1: just us art um and yeah us that's a lot

1014
00:59:11,920 --> 00:59:14,280
Speaker 1: of art. Yeah. And the benefit of art is that

1015
00:59:14,320 --> 00:59:17,080
Speaker 1: it can be sold privately and anonymously to other buyers.

1016
00:59:17,120 --> 00:59:18,800
Speaker 1: It's not like a gun. It's not even like a car,

1017
00:59:18,920 --> 00:59:21,720
Speaker 1: like there's not a lot of registration. Most art never

1018
00:59:21,800 --> 00:59:24,520
Speaker 1: even leaves the warehouse after the sale is completed, again

1019
00:59:24,560 --> 00:59:27,280
Speaker 1: for tax reasons. And it's basically just a vehicle for

1020
00:59:27,360 --> 00:59:30,640
Speaker 1: transferring money in a lot of ways and laundering money

1021
00:59:30,680 --> 00:59:34,640
Speaker 1: from like you know, one one like center of your business,

1022
00:59:34,760 --> 00:59:37,200
Speaker 1: or like one of your accounts through another because there's

1023
00:59:37,200 --> 00:59:39,440
Speaker 1: just there. For for a while at least, there was

1024
00:59:39,440 --> 00:59:42,360
Speaker 1: not scrutiny on it. And art became really popular for

1025
00:59:42,440 --> 00:59:45,800
Speaker 1: laundering money when they started the government, like d as

1026
00:59:45,840 --> 00:59:47,840
Speaker 1: a result of the War on drugs, started cracking down

1027
00:59:47,880 --> 00:59:52,040
Speaker 1: more on other traditional methods of money laundering. It's all

1028
00:59:52,120 --> 00:59:56,640
Speaker 1: like in an extra way, because art only exists if

1029
00:59:56,680 --> 01:00:00,360
Speaker 1: you're experiencing it. Yeah, and it's the most a mental

1030
01:00:00,440 --> 01:00:01,960
Speaker 1: thing you can do to a piece of our other

1031
01:00:02,040 --> 01:00:05,120
Speaker 1: than destroying it, is to just keep it in a

1032
01:00:05,120 --> 01:00:07,960
Speaker 1: warehouse so no one ever sees it. It's as if

1033
01:00:08,000 --> 01:00:11,160
Speaker 1: it doesn't exist. Yeah, it's fucked up, and they're just

1034
01:00:11,240 --> 01:00:14,680
Speaker 1: doing it like this beautiful work that has inspired like

1035
01:00:14,720 --> 01:00:16,600
Speaker 1: and it's the fun up thing is that, Like, because

1036
01:00:17,160 --> 01:00:21,160
Speaker 1: art inspires emotional experiences, because people react strongly to it,

1037
01:00:21,160 --> 01:00:23,960
Speaker 1: it has cash value. And because it has cash value,

1038
01:00:24,240 --> 01:00:26,920
Speaker 1: but it's not really a thing that's often been governed

1039
01:00:26,960 --> 01:00:28,680
Speaker 1: in the same way as other things, Like you can

1040
01:00:28,760 --> 01:00:31,320
Speaker 1: kind of you can manipulate it, like you can agree, hey,

1041
01:00:31,400 --> 01:00:33,800
Speaker 1: i'm gonna sell this if you buy it for this much.

1042
01:00:33,880 --> 01:00:36,439
Speaker 1: We can both funnel money into that purchase of the yard.

1043
01:00:36,600 --> 01:00:39,200
Speaker 1: Nobody's gonna question that some crazy rich person thought that

1044
01:00:39,240 --> 01:00:40,800
Speaker 1: this painting was worth a hundred million even though it

1045
01:00:40,880 --> 01:00:43,040
Speaker 1: only been worth twenty million before. And then we get

1046
01:00:43,080 --> 01:00:45,480
Speaker 1: to launder more money through this transaction to this freeport

1047
01:00:45,480 --> 01:00:48,000
Speaker 1: where nothing has taxed because it's technically in transit. It's

1048
01:00:48,040 --> 01:00:50,880
Speaker 1: like this whole game. And I should note that like

1049
01:00:50,960 --> 01:00:53,480
Speaker 1: that is how it has been for a while. I

1050
01:00:53,480 --> 01:00:56,800
Speaker 1: think within the last decade, there have been some significant

1051
01:00:56,840 --> 01:00:59,000
Speaker 1: legal steps taken that have made it more difficult to

1052
01:00:59,080 --> 01:01:01,120
Speaker 1: launder money this way. I think it still happens at

1053
01:01:01,120 --> 01:01:04,120
Speaker 1: a pretty significant scale, but like it got harder, and

1054
01:01:04,160 --> 01:01:07,000
Speaker 1: it's it got harder, and like right, as kind of

1055
01:01:07,040 --> 01:01:10,040
Speaker 1: like when other money laundering stuff got shut down, art

1056
01:01:10,080 --> 01:01:12,720
Speaker 1: became the center of money laundering. As it became harder

1057
01:01:12,760 --> 01:01:14,920
Speaker 1: to launder money through art, n f t s hit

1058
01:01:15,000 --> 01:01:17,120
Speaker 1: the stage and that's what they're being used for. And

1059
01:01:17,160 --> 01:01:18,640
Speaker 1: so a lot of the times when you see like

1060
01:01:18,720 --> 01:01:20,920
Speaker 1: these as we were talking about this, like oh this

1061
01:01:20,920 --> 01:01:23,880
Speaker 1: this shitty a bit drawing of a dude sold for

1062
01:01:24,120 --> 01:01:27,720
Speaker 1: sixty grand, or like this monkeys sold for eighteen million dollars,

1063
01:01:28,120 --> 01:01:31,000
Speaker 1: and it's like just one of ten thousand unique, almost

1064
01:01:31,080 --> 01:01:33,120
Speaker 1: unique monkey drawings. What the hell is happening? Well, what's

1065
01:01:33,120 --> 01:01:37,000
Speaker 1: happening is somebody has a pile of money and multiple wallets.

1066
01:01:37,040 --> 01:01:41,920
Speaker 1: Because while the blockchain absolutely like registers every transaction, it

1067
01:01:42,040 --> 01:01:45,320
Speaker 1: doesn't you don't necessarily know that those are individual different people.

1068
01:01:45,560 --> 01:01:48,280
Speaker 1: It could be one guy trading stuff between wallets, so

1069
01:01:48,320 --> 01:01:50,480
Speaker 1: he buys an n f T for a thousand dollars

1070
01:01:50,560 --> 01:01:54,320
Speaker 1: and you can artificially inflate it doing that. Yeah, yeah,

1071
01:01:54,400 --> 01:01:55,920
Speaker 1: So you buy an n f T for a thousand,

1072
01:01:55,960 --> 01:01:57,800
Speaker 1: and then you have another account by it for five thousand,

1073
01:01:57,840 --> 01:01:59,640
Speaker 1: and then another account by it for ten thousand, and

1074
01:01:59,680 --> 01:02:01,440
Speaker 1: then or you pay people to help you do that.

1075
01:02:01,480 --> 01:02:04,120
Speaker 1: But whatever way, you keep jacking up the price until

1076
01:02:04,240 --> 01:02:07,680
Speaker 1: some sucker buys it for a million because he's saying, wow,

1077
01:02:07,720 --> 01:02:11,320
Speaker 1: it's doubled in price every two days. Now I can

1078
01:02:11,400 --> 01:02:13,720
Speaker 1: flip it in forty eight hours, and then like suddenly,

1079
01:02:13,760 --> 01:02:16,920
Speaker 1: there's no buyers because one of the stats that came

1080
01:02:16,920 --> 01:02:20,160
Speaker 1: out since we did our last episode UM is that

1081
01:02:20,680 --> 01:02:23,760
Speaker 1: uh like more than nine of n f T transactions

1082
01:02:23,800 --> 01:02:26,640
Speaker 1: are less than ten percent of people who have n

1083
01:02:26,680 --> 01:02:30,160
Speaker 1: f T s UM. It is a vanishingly small number

1084
01:02:30,160 --> 01:02:33,120
Speaker 1: of people actually doing transactions, and it's mostly at the

1085
01:02:33,120 --> 01:02:35,600
Speaker 1: big level money laundering. The vast majority of n f

1086
01:02:35,640 --> 01:02:38,040
Speaker 1: T self or under two hundred bucks, like the ones

1087
01:02:38,080 --> 01:02:40,640
Speaker 1: that are selling for huge amounts of money, are money laundering.

1088
01:02:40,680 --> 01:02:42,160
Speaker 1: And one of the pieces of evidence of this is

1089
01:02:42,200 --> 01:02:44,560
Speaker 1: that the biggest n f T sale, which was about

1090
01:02:44,600 --> 01:02:47,919
Speaker 1: half a billion dollars recently was it was found later

1091
01:02:48,120 --> 01:02:50,840
Speaker 1: the person who bought it transferred the n f T

1092
01:02:51,080 --> 01:02:53,360
Speaker 1: back to the original wall, or transfer the money that

1093
01:02:53,440 --> 01:02:54,920
Speaker 1: he paid for the n f T back to the

1094
01:02:54,920 --> 01:02:58,640
Speaker 1: original wallet. So it was clearly just some guy using

1095
01:02:58,680 --> 01:03:01,000
Speaker 1: half a billion dollars in tiptoe to buy his own

1096
01:03:01,080 --> 01:03:03,880
Speaker 1: n f T from himself, paying a few thousand dollars

1097
01:03:03,880 --> 01:03:06,720
Speaker 1: in gas fees um and doing that so that now

1098
01:03:06,760 --> 01:03:08,040
Speaker 1: this is in a n f T that's worth half

1099
01:03:08,040 --> 01:03:10,480
Speaker 1: a billion dollars, and that's good for this specific n

1100
01:03:10,480 --> 01:03:12,800
Speaker 1: f T, but it also raises the profile of the

1101
01:03:12,840 --> 01:03:15,080
Speaker 1: whole industry and makes people more likely it brings in

1102
01:03:15,120 --> 01:03:18,120
Speaker 1: more suckers. You know, it's just advertising for the suckers.

1103
01:03:18,160 --> 01:03:21,600
Speaker 1: That's what was happening with people's thing. It's it's make

1104
01:03:21,640 --> 01:03:23,880
Speaker 1: people think that there's a gold rush, so they rush

1105
01:03:23,920 --> 01:03:26,240
Speaker 1: in and spend money on monkey drawings that they're never

1106
01:03:26,280 --> 01:03:31,640
Speaker 1: able to liquidate. Anyway, that's the context I thought was needed. Um,

1107
01:03:31,680 --> 01:03:35,040
Speaker 1: I think that's really important. And thank you Robert for

1108
01:03:35,120 --> 01:03:38,280
Speaker 1: being so thorough. I'm just obsessed with this stuff lately.

1109
01:03:38,360 --> 01:03:41,960
Speaker 1: He's a good man and thorough. He is extremely obsessed

1110
01:03:42,000 --> 01:03:44,360
Speaker 1: with this stuff lately. That's how he starts all our

1111
01:03:44,360 --> 01:03:47,200
Speaker 1: meetings with the fun fact. I can't it's the only

1112
01:03:47,240 --> 01:03:49,440
Speaker 1: thing I can It's stupid and terrible, but it's the

1113
01:03:49,480 --> 01:03:51,680
Speaker 1: only stupid, terrible thing I can read about that I'm

1114
01:03:51,680 --> 01:03:54,040
Speaker 1: not depressed at the end. I just think it's really funny.

1115
01:03:55,880 --> 01:03:58,120
Speaker 1: It makes me sad because a lot of the people

1116
01:03:58,200 --> 01:04:00,400
Speaker 1: that I'm friends with our pushing this narrative that like,

1117
01:04:00,720 --> 01:04:03,320
Speaker 1: if you don't invest in this, you're an idiot, and

1118
01:04:03,400 --> 01:04:06,480
Speaker 1: I'm like, you're gonna have other idiots listening to you

1119
01:04:06,560 --> 01:04:09,480
Speaker 1: who don't have a safety net of mommy and daddy,

1120
01:04:09,800 --> 01:04:14,680
Speaker 1: and then they'll be pretty fucked. So yeah, yeah, it's

1121
01:04:14,720 --> 01:04:15,120
Speaker 1: good ship