ALZ, Lynn Matic, TA discussed on The Crypto Street Podcast
We love having you love that you listen to us in one here's spew. We've got a new segment tonight so we hope you'll I like it because we like it. We're awesome basically makes us happy. If it doesn't that's I'm just sorry. Sorry I don't know what to tell you but press was good. You know same old man I actually you know as you're kind of doing the intro. I was thinking to myself doing the whole. Thanks for coming in. You know we appreciate it was like yeah you know I was growing up among us to tell me cringe young prince. You gotTA voice made for the radio. Well then I could lease turn it off. Yes and that just made me think. There's here's the thing though burns. Wow Yeah you have a radio voice you also have a TV face. Oh good God I don't know was maybe I don't know just your business. Maybe I don't know. He says well shaking little Robert Doing well little bit insecure though this This round somebody said I say like too much On the last one so I'm going to be very self of conscious and try to not say that so well also if you do feel you I feel you because I get picked apart by people like you know a prince you know your you're really idiot man like when you're talking you should do it like this this this Look what you're doing right now. You're just an idiot like okay. Thanks unlike kind of emanate but whatever says the people that don't have a podcast or do they are right though. I do say way too much but I guess I've lost that I don't realize I didn't even notice it. I don't notice it. I don't notice it much. So I I mean I've mispronounced things and get ripped apart for that and let's talk about mispronouncing things again rupert. I'm still getting tagged in like any bind ONS Diong. Ah Anybody who makes a tweet about like out of pronounce by. I'm still getting text wisely. Two years later like yeah. That is so great so okay so we have that new segment. We're in the championship round of the of fantasy leagues. And we'll have avenue all coin draft update. And like I was telling the fellas before we started recording one of us is falling away behind the others. That's what I'm just going to Matiz it a little bit before we do that. Let's talk about this matic thing that's been going on this So too long don't read is basically it looked. The chart looked worse than bit connect. Yeah or maybe not worse compares about the same. Yeah it was comparable best part about. It was sorry I know this might offend is going in their telegram and just seeing some of the community members chart bullish fundamental seven changed so bad to to laugh at but what what what tell us more what you guys know I. I don't know a ton about just that I know there's people complaining about audience. Someone in the telegram was saying that whoever does this is going to jail tomorrow if they don't do something about it I'm gonNA helpful well. Yeah doubtful like are Y. You know when you were saying like yeah so people were horrible. Going in the telegram grew and kind of getting some struggles. You know I was in the talks. I've actually been in the telegram room today to finally get to they. They made it like a private channel. I guess they I didn't I was casting curses on some. That's why they booted you. You're you're cursing I was. I was cursing the center is in there. But it's like when you've been in Crypto so like and you just you see all the shit that goes on it's like you just can't help but not go in there and just watch the absolute dumpster fire. That is happening right. So I don't know this is just clot like this is just pure crypto. Like one of those times where it's like it. Just look at the chart and we're like yeah this is. This is what we're involved in. This is crypto right. Here these are schick lines and this is what can happen. Yeah and if and if the possibility of this sort of thing happening wasn't there than the possibility of Twenty X.'s and thirty XS wouldn't be there either so it's not that it's kind of a necessary necessary evil I would say yeah It's it's Shitty and it seems like you know this is I don't know like a my speculation on what causes It was down like seventy percent. It was dropping like one percent to one and a half percent a minute. Pretty much for just non stop it. It seemed like And interestingly enough it seemed like it was kind of dragging the rest Mike. Ultra with it like you know. Yeah Yeah because you scroll down the finance like page unlike volume all ex nothing. Everything started taking a hit. Lynn Matic was getting hit. So which is interesting. Because it's like yeah. There is just so much correlation on anything in the space. But she'll yeah like even just with matic in or anything just some other shit coin and it's getting crushed and but here it is like it was actually having I would say it had an impact like I'm GonNa say maybe it. Didn't you know truly didn't that people were just trying to you. Know it's like whatever just how it is but I like to believe there was some kind of an impacter but you know it's kind of like what happens when you add in now margin trading on some of these Alz. It's like Schick and get you know you have one guy who maybe wants to start selling a position. Whatever it doesn't really give of a shit about trying to do it in a cost efficient manner which you know a lot of people will? That's done well. There's a lot of people who are like that they just don't care right. It's like okay. Mark Arc itself Arkansas. Whatever just triggers? Everything else I saw. I saw some speculation. Somebody would say like it was an allegation that went wrong and People were try it you know it was like say. They wanted to sell these chunk of coins. They had Atta program set up to do it and then the Alga just went wrong. That's some speculation. I don't know if that's the case or not. It's another possibility that I could see being pretty valid but I think This is probably changed since I saw it yesterday but from what I could tell it. Some people connected that the team from attic had transferred a lot of coins to finance in the couple of months leading up to this and it was thought that maybe that was some big poorly done liquidation event on their part Where they didn't stagger them? You know they just kind of maybe some person market sold all of it or something like that and There seems to be some evidence supporting that I. I don't both exchanged but honestly if that is the case than it would kind of make sense to me if it was saying Albo gone wrong You know maybe maybe they were you know because all these teams will set up with market makers all that stuff. So maybe they were you know in contact with the market like hey. Can you help us out with this. Like we wanted to distribute attributes coins onto the market. But we gotta do it in a fashion. That isn't gonNA crush the market. Can you build those you know. Can we get a program. That's going to help us do this And then and maybe you know like honestly I could very much see that being what happened and then from there it which is the cascading effect right now hitting all of those margin longs longs Not just stopping them out but also liquidating them and then having it just dump So much that all of a sudden spot holders holders are getting you know like Oh okay. I'm holding spot. I can't technically be liquidated but like what the Hell is going on here right and so what I'm getting. Yeah and then that's like the last big bang where it's like the spot guys are finally selling your just an avalanche of factory. All in all it went down about seventy five percent. I think thank right around there. I think that would have been like the on the Max drawdown. Yeah create Do we want to do a winners. And losers of this debacle uh-huh well and it was sold top or should I've seen clears and other ages. I would say our winters I've seen people come out like you know and I'M NOT GONNA I'm not gonNA say Bullshit because to me. It seems and you know there's going to be people who shorted the talk right. There is just as because there's you know there's margin trading waiting on finance for it. There's futures on F. T. X. for it so you know there's a lot of places where you could have been profiting quite a bit off of that move and you know this is kind of like the other thing of like you know things. I don't WanNa be the guy who screams it was just manipulation. Someone someone maybe had a short position over an F. T. X. or something and then they're just gonNa start pounding these down. I don't I don't know if I really by that but you know now. Oh you having so many different Dorados options with a lot of Alz especially with FDA is due where now there's a lot also there right and so all all the sudden you know maybe there is You know some incentive for somebody who holds a bunch of spot also holds a big position on some Dorados You know maybe they're short or something. Let's go slam the market a bit. Who knows right but could season? Yeah and that's just something that to me is bound to happen. You know the more you add on you know derivatives especially for Alz that you know you wanNA comp- liquidity you WANNA compare liquidity there. We're GONNA call them relatively illiquid in general assists Some of the ship. That can happen right. I think another winner. Is You know there's always people that just put stink bids in and if there's think bid hit on that low it was one hundred and fifty two Toshi's and now it's trading at about two fifty so that you know that's about sixty percent if it there stink bit hit and it's just like that Up every time this happens. I say I'm going to do that. I know who it and I think part of it is. You don't really know where to put it. I mean you can't really put bids on the dozens and hundreds of different points. I I don't know Another loser I would say see. Yeah I think I I I don't I don't think a guy in his position to even be but I take it comes across as not genuine in these sorts of matters and there's a track record that supports that so I'm here in to the One I you know okay. This is his me hearing things who the hell knows if there's if it's reality or not because I think they're in a situation like this. A lot of people are trying to cover their asses passes on you know. Why did this happen? The shouldn't happen. You know I mean But there was a sudden like the one of the matic founder. CEO or something had had said like he had tried to get in contact with CS e earlier. Like you know a few weeks leading up to this moment You know kind of with concerns about this like and nothing was done right and so have you know. I think it's it's easy the early. Think he gives a shit at the end of the day just wants his fees so yeah it'll come off like he cares but I don't think he really does. Well negatives that's funny. Yeah one of the narratives that's come out of this is the fact that binds is set up to screw over retail by giving founders and early teams place to offload things. That shouldn't wouldn't be worth as much as they're worth I I can see that but I think that's sort of like a something that's going to happen with any big experience. I don't know if it's really like this. Concerted concerted effort to screw over retail. And now matic was one of those one of those. I E mails right. That finance Yeah they a hosted it like exclusively so now okay now. Let's Kinda watch going forward some of these other I e Oh coins dot were finance exclusive. Are we gonNA see some shit from those going forward now like the. It'll be interesting right like who knows. Maybe there's maybe maybe we end up seeing a trend of something I don't know but you know keeping my eyes open. We'll see. The whole thing is ridiculous. I mean is it's like the just pure crypto I mean it was just a pure crypto moment as this is where we are. Yeah for Real Another thing we wanted to talk about a mention I know this this. We'll talk about it again but the tasers pump here as of late. Well we'll share your thoughts Well you know like as with the Aucoin portfolios I could be gloating here but some and keep it civil try not to be too much I don't want to. It's been doing very well. I think there's a strong narrative behind it In terms of the whole banking thing. Yes it's not. The first coins offer proof of stake or a paid out Coins in the form of like dividends or anything like that. But I think it's probably the first prominent one that has a lot of liquidity And to go along with that narrative I mean there are some other options. I think decreed has had something similar but it doesn't have nearly the publicity I don't think see I. I think the main takeaways from this move our for mean one of the things that that makes people so bullish is that the.