36 Burst results for "Degen"
Crypto Banter
A highlight from Top 3 Crypto Sectors for MASSIVE Profits In 2024! (Accumulate Now)
"There are three crypto sectors which I believe are going to be the pillars of next cycle and thus I am positioning my portfolio concentrated around these three sectors. In front of you on the screen right now, you can see the historical snapshot of the market during the peak of the 2017 bull run. Take a look around, look at the top 50. How many coins here didn't end up featuring in the 2021 bull run? You've got Lisk, you've got Omizgo, you've got Stratus, BitShares, Ardor, Hyper Cash, Bytecoin etc. All these ancient relics ended up fading into oblivion come the 2021 cycle where we saw coins like Polkadot, coins like Terra, Avalanche, Solana all outperform and exhibit massive gains versus their old counterparts. So if you go into this next cycle investing in the old relics of last cycle and not addressing the current problems we have in crypto right now, I think you are in for a rude awakening come the next bull run. So instead, why not focus on the biggest problems of next cycle? Be preemptive here and start anticipating what some of the biggest upcoming trends are going to be. Then you can reverse engineer that process and start building the foundational blocks of your portfolio now setting yourself up for success in next cycle. So today I want to talk about three major verticals that I am eyeing in crypto and I'm three of the biggest sectors next cycle. I'm also going to give you coin picks from each of these sectors and give you my strategy with each individual category. Without further ado, let's get straight into the video. Now the first major sector in crypto that I think is undeniable as the driving force behind crypto's price performance and also the lifeblood of a lot of the market is simply speculation. I mean just think about it, humans are innately gamblers. The entire premise of stock market's growth over the last century has essentially been people speculating on asset prices going up in the future. Crypto is the biggest and most accessible casino in the world so when it comes to human speculation it is definitely well positioned for significant upside. Now as long as humans exist I believe that their desire to speculate will exist because humans are innately gamblers and for that reason I'm bullish on human greed. So when it comes to crypto how can you position yourself on the premise that humans will want to speculate next cycle? Well in my opinion there are really two growth verticals here when it comes to human speculation. Yes it is the most basic of the three narratives of today's video but it is also the most obvious one. Crypto's use case whether we like it or not is gambling and is speculation and for that reason you can divide this up into a gambling platforms that facilitate people's ability to speculate and two platforms like DEXs that allow people to speculate on the market specifically. So when it comes to gambling platforms I think it's undeniable like rollbit for example has been a major prominent pillar of this sector given the fact that it's been able to do over 25 million dollars of 30 -day casino revenue and as a result has burnt 5 .3 million dollars worth of rollbit tokens. This is an example of a protocol that is really primed to capture that human greed factor considering it offers a casino product, a crypto futures product and a sports revenue product. I haven't seen many other great gambling platforms in crypto launch so for today's video I think rollbit is the obvious selection here but as they start to launch and as some better products start to come out in this niche definitely gambling platforms is something I have on my horizon because as I said I'm bullish on human greed. Now if you look at rollbit's fees you can also see that comparatively it stacks up pretty well to the rest of the market with it actually generating more in the past 30 days than the blockchain Tron, the biggest DEX on Ethereum Uniswap, the Bitcoin network, it's only behind ETH and Lido in terms of revenue generation so that's a super interesting vertical. Now the other vertical in terms of capturing speculation next cycle is of course the DEXs because if you view crypto as the ultimate casino then in this world the exchanges by default become the house. Now when retail comes back volume returns, volatility returns and more importantly risk appetite returns which in my opinion it inevitably will then the DEXs and the centralized exchanges are going to be the biggest beneficiaries but due to the recent regulations surrounding centralized exchanges and due to the transformative shift we have seen over the last few months from centralized exchange trading to DEX trading I think DEXs considering this environment are going to be some of the major beneficiaries when it comes to capturing revenue from what we call the crypto casino. So I am looking to position myself in the top DEXs in the market, the top -notch products which have a clean and intuitive UI because I believe that stickiness comes from a great user experience, a diverse range of trading pairs and prompt listings of the new hottest crypto coins and products, competitive fees and strong referral programs because we know exchanges like Bybit were built around really strong referral programs and a DEX is going to need to capture that in order to fully harness its growth potential. So at the end of the day it comes down to user experience when we can get a centralized exchange like experience on a DEX then I think there is really an incentive considering crypto regulation for people to actually use these DEXs. Now what are some of the products I'm looking at? GMX clearly has been one of the leaders in this sector, it's also heavily discounted in price since its highs, this is definitely one that I've got on my list. Gains network as well is another one that I've got on my list considering the fact that it supports 64 trading pairs, they've also got forex and commodities so it's not just crypto that you can speculate on on the blockchain and there's also a bunch of other features that they offer. They give up to 150x leverage, I mean that by definition appeals to the degens, they give 250x leverage on commodities and 1000x on forex in some cases, they also support collateral deposits up to 250k and DAI is also a stablecoin supported as collateral. They also have a few interesting features like lookbacks for better execution, one click trading for a better trading experience. So in terms of current trading products that are on the market right now in the DEX form, I think G -Trade and more broadly the Gains network team are doing a really good job at pioneering this space. Now of course Gains is a partner of the show, if you do want to trade on G -Trade there is a link in the description. If you haven't yet, I think you are missing out because it's an amazing trading experience and for those that are looking for a new trading home, I think this is one of the best products on the market right now. Another DEX that I'm looking at is DYDX. These guys are going for a really novel and pretty ambitious approach to solving the DEX problem with their own chain. They did decide to leave Ethereum and launch their own chain on Cosmos, that's super bold. If it fails, it could fail spectacularly but if it pays off, it could really pay off spectacularly due to the additional composability that deploying on Cosmos gives you over deploying an EVM application. So this could be a massive success, we don't know yet but if it is, it's definitely something that I'm interested in getting exposure to. Just keep in mind that there is a big token unlock coming. I am expecting DYDX to issue some sort of big announcement to try and offset some of the sell pressure but just keep in mind that there is a bunch of sell pressure coming and you're probably going to want to DCA slowly into this one as not to take on any unnecessary risk during a bear market. Now I've got one more option for you if you're interested in this whole speculation DEX narrative and that's say network. So you don't just have to bet on the specific DEXs, you can bet on the infrastructure, the platforms that are facilitating speculation and say by default is a layer one blockchain that is specifically being built for traders because they're offering fast finality which is very important when it comes to executing trading, a twin turbo consensus mechanism which is very important for the overall performance of the network, they have a native matching engine that allows exchange teams to leverage that to build their own exchange products and also they have front running protection built into the layer one blockchain. So pretty much what you need to know is say is a blockchain built specifically for trading applications and if you want exposure to this narrative this is definitely an interesting one. Price wise it's essentially been down only since its launch but this is one that I'm looking at accumulating maybe let's say over the next six months to a year slowly accumulating to position myself in this narrative I think say is a super interesting unique bet. Okay now let's get into sector number two and that is real world assets. DeFi has a big problem right now, the interest rates across the world have increased significantly since 2021 so there's less of an incentive to stake money in DeFi yield farms. I mean back in 2021 when interest rates were essentially zero people were desperate and they were starved for yield so they were parking capital in DeFi where you could get 10 to 20 percent of your stable coins, 20 to 30 percent on your ethereum. It was amazing right? Well those days are over and now for DeFi to succeed and become sustainable it's going to need avenues to attract capital into the ecosystem and I think the number one vertical for this is real world assets so that's essentially tokenizing assets like real estate gold collectibles cars and intangible assets like equities bonds carbon credits and trade finance and bringing it on chain in the form of a token and enabling users on chain to deposit into vaults to earn yield on real life assets so if that is a property it can be divisible into a bunch of tokens offered on chain so you can essentially invest into a property instead of going through the rigmarole of investing it in real life with big barriers to entry you can take a lesser barrier to entry and divide it up into a bunch of fractions to allow people to invest and earn yield on that property on chain but bonds are another example instead of having to go through a traditional trading house and centralized entities which take huge transaction and management fees you can go straight peer -to -peer on a DeFi or crypto product which allows you to invest in things like bonds and treasury bonds so it's super interesting the real world asset space and as you can see the boston consulting group expects this space to 26x from 0 .6 trillion dollars to 16 trillion dollars by the year 2030 with their high case so their bullish case being 68 trillion dollars which is 113 x from the current market cap of real world assets so this could potentially be a whole lot of money coming into the crypto ecosystem so clearly real world assets are a massive growth vertical and this is one that i'm interested in positioning myself towards because if we do see a massive influx of tokenized assets coming on chain this could be a huge attraction for new tbl to come into the crypto market now in terms of positioning myself for real world assets there's a few ways you can do it the first way is essentially betting on individual real world asset protocols and this is probably your most direct way but it's also the riskier because even if real world assets succeed if a specific protocol fails then your investment could still go to zero the safer way but the less upside way would simply to be to invest in the blockchains the l1s the l2s that you believe in and you think are going to be home to the tokenization of assets because at the end of the day these blockchains make sequencer fees and revenue which in some cases are paid back to holders so the overall value of the chain increases however as you guys know you're not getting as much upside of course so you've kind of got to decide whether you want to go for a protocol based approach or an infrastructure based approach i like to do a little bit of both because then i can capture some of the massive upside but i can also have some safer bets to hedge against some of the protocol specific bets in terms of protocol specific players my favorite ones fracks i've talked about this a lot in the past but they're doing a lot with their v3 they've got fracks lend they're not just a real world asset protocol they've got exposure to other niches as well to hedge as well so i do like fracks as a play this is my personal favorite one in the sector make it also interesting i don't own any and i'm not planning on buying any anytime soon but this has definitely been the the leader of this narrative considering that they've been able to accrue over 600 million dollars worth of vault value thanks to their importation of treasury yields on chain so this has been a really successful one but i'm also seeing many different real estate products collectibles marketplaces and super interesting products starting to launch in the real world asset space so this is definitely one where you want to keep some capital aside and look to position yourself in this one uh over the next few months this is definitely one of the biggest growth verticals next cycle especially if we can get anywhere close to that 68 trillion dollar figure that bcg did suggest as a potential growth target by the year 2030.
Crypto Banter
Fresh update on "degen" discussed on Crypto Banter
"There are three crypto sectors which I believe are going to be the pillars of next cycle and thus I am positioning my portfolio concentrated around these three sectors. In front of you on the screen right now, you can see the historical snapshot of the market during the peak of the 2017 bull run. Take a look around, look at the top 50. How many coins here didn't end up featuring in the 2021 bull run? You've got Lisk, you've got Omizgo, you've got Stratus, BitShares, Ardor, Hyper Cash, Bytecoin etc. All these ancient relics ended up fading into oblivion come the 2021 cycle where we saw coins like Polkadot, coins like Terra, Avalanche, Solana all outperform and exhibit massive gains versus their old counterparts. So if you go into this next cycle investing in the old relics of last cycle and not addressing the current problems we have in crypto right now, I think you are in for a rude awakening come the next bull run. So instead, why not focus on the biggest problems of next cycle? Be preemptive here and start anticipating what some of the biggest upcoming trends are going to be. Then you can reverse engineer that process and start building the foundational blocks of your portfolio now setting yourself up for success in next cycle. So today I want to talk about three major verticals that I am eyeing in crypto and I'm three of the biggest sectors next cycle. I'm also going to give you coin picks from each of these sectors and give you my strategy with each individual category. Without further ado, let's get straight into the video. Now the first major sector in crypto that I think is undeniable as the driving force behind crypto's price performance and also the lifeblood of a lot of the market is simply speculation. I mean just think about it, humans are innately gamblers. The entire premise of stock market's growth over the last century has essentially been people speculating on asset prices going up in the future. Crypto is the biggest and most accessible casino in the world so when it comes to human speculation it is definitely well positioned for significant upside. Now as long as humans exist I believe that their desire to speculate will exist because humans are innately gamblers and for that reason I'm bullish on human greed. So when it comes to crypto how can you position yourself on the premise that humans will want to speculate next cycle? Well in my opinion there are really two growth verticals here when it comes to human speculation. Yes it is the most basic of the three narratives of today's video but it is also the most obvious one. Crypto's use case whether we like it or not is gambling and is speculation and for that reason you can divide this up into a gambling platforms that facilitate people's ability to speculate and two platforms like DEXs that allow people to speculate on the market specifically. So when it comes to gambling platforms I think it's undeniable like rollbit for example has been a major prominent pillar of this sector given the fact that it's been able to do over 25 million dollars of 30-day casino revenue and as a result has burnt 5.3 million dollars worth of rollbit tokens. This is an example of a protocol that is really primed to capture that human greed factor considering it offers a casino product, a crypto futures product and a sports revenue product. I haven't seen many other great gambling platforms in crypto launch so for today's video I think rollbit is the obvious selection here but as they start to launch and as some better products start to come out in this niche definitely gambling platforms is something I have on my horizon because as I said I'm bullish on human greed. Now if you look at rollbit's fees you can also see that comparatively it stacks up pretty well to the rest of the market with it actually generating more in the past 30 days than the blockchain Tron, the biggest DEX on Ethereum Uniswap, the Bitcoin network, it's only behind ETH and Lido in terms of revenue generation so that's a super interesting vertical. Now the other vertical in terms of capturing speculation next cycle is of course the DEXs because if you view crypto as the ultimate casino then in this world the exchanges by default become the house. Now when retail comes back volume returns, volatility returns and more importantly risk appetite returns which in my opinion it inevitably will then the DEXs and the centralized exchanges are going to be the biggest beneficiaries but due to the recent regulations surrounding centralized exchanges and due to the transformative shift we have seen over the last few months from centralized exchange trading to DEX trading I think DEXs considering this environment are going to be some of the major beneficiaries when it comes to capturing revenue from what we call the crypto casino. So I am looking to position myself in the top DEXs in the market, the top-notch products which have a clean and intuitive UI because I believe that stickiness comes from a great user experience, a diverse range of trading pairs and prompt listings of the new hottest crypto coins and products, competitive fees and strong referral programs because we know exchanges like Bybit were built around really strong referral programs and a DEX is going to need to capture that in order to fully harness its growth potential. So at the end of the day it comes down to user experience when we can get a centralized exchange like experience on a DEX then I think there is really an incentive considering crypto regulation for people to actually use these DEXs. Now what are some of the products I'm looking at? GMX clearly has been one of the leaders in this sector, it's also heavily discounted in price since its highs, this is definitely one that I've got on my list. Gains network as well is another one that I've got on my list considering the fact that it supports 64 trading pairs, they've also got forex and commodities so it's not just crypto that you can speculate on on the blockchain and there's also a bunch of other features that they offer. They give up to 150x leverage, I mean that by definition appeals to the degens, they give 250x leverage on commodities and 1000x on forex in some cases, they also support collateral deposits up to 250k and DAI is also a stablecoin supported as collateral. They also have a few interesting features like lookbacks for better execution, one click trading for a better trading experience. So in terms of current trading products that are on the market right now in the DEX form, I think G-Trade and more broadly the Gains network team are doing a really good job at pioneering this space. Now of course Gains is a partner of the show, if you do want to trade on G-Trade there is a link in the description. If you haven't yet, I think you are missing out because it's an amazing trading experience and for those that are looking for a new trading home, I think this is one of the best products on the market right now. Another DEX that I'm looking at is DYDX. These guys are going for a really novel and pretty ambitious approach to solving the DEX problem with their own chain. They did decide to leave Ethereum and launch their own chain on Cosmos, that's super bold. If it fails, it could fail spectacularly but if it pays off, it could really pay off spectacularly due to the additional composability that deploying on Cosmos gives you over deploying an EVM application. So this could be a massive success, we don't know yet but if it is, it's definitely something that I'm interested in getting exposure to. Just keep in mind that there is a big token unlock coming. I am expecting DYDX to issue some sort of big announcement to try and offset some of the sell pressure but just keep in mind that there is a bunch of sell pressure coming and you're probably going to want to DCA slowly into this one as not to take on any unnecessary risk during a bear market. Now I've got one more option for you if you're interested in this whole speculation DEX narrative and that's say network. So you don't just have to bet on the specific DEXs, you can bet on the infrastructure, the platforms that are facilitating speculation and say by default is a layer one blockchain that is specifically being built for traders because they're offering fast finality which is very important when it comes to executing trading, a twin turbo consensus mechanism which is very important for the overall performance of the network, they have a native matching engine that allows exchange teams to leverage that to build their own exchange products and also they have front running protection built into the layer one blockchain. So pretty much what you need to know is say is a blockchain built specifically for trading applications and if you want exposure to this narrative this is definitely an interesting one. Price wise it's essentially been down only since its launch but this is one that I'm looking at accumulating maybe let's say over the next six months to a year slowly accumulating to position myself in this narrative I think say is a super interesting unique bet. Okay now let's get into sector number two and that is real world assets. DeFi has a big problem right now, the interest rates across the world have increased significantly since 2021 so there's less of an incentive to stake money in DeFi yield farms. I mean back in 2021 when interest rates were essentially zero people were desperate and they were starved for yield so they were parking capital in DeFi where you could get 10 to 20 percent of your stable coins, 20 to 30 percent on your ethereum. It was amazing right? Well those days are over and now for DeFi to succeed and become sustainable it's going to need avenues to attract capital into the ecosystem and I think the number one vertical for this is real world assets so that's essentially tokenizing assets like real estate gold collectibles cars and intangible assets like equities bonds carbon credits and trade finance and bringing it on chain in the form of a token and enabling users on chain to deposit into vaults to earn yield on real life assets so if that is a property it can be divisible into a bunch of tokens offered on chain so you can essentially invest into a property instead of going through the rigmarole of investing it in real life with big barriers to entry you can take a lesser barrier to entry and divide it up into a bunch of fractions to allow people to invest and earn yield on that property on chain but bonds are another example instead of having to go through a traditional trading house and centralized entities which take huge transaction and management fees you can go straight peer-to-peer on a DeFi or crypto product which allows you to invest in things like bonds and treasury bonds so it's super interesting the real world asset space and as you can see the boston consulting group expects this space to 26x from 0.6 trillion dollars to 16 trillion dollars by the year 2030 with their high case so their bullish case being 68 trillion dollars which is 113 x from the current market cap of real world assets so this could potentially be a whole lot of money coming into the crypto ecosystem so clearly real world assets are a massive growth vertical and this is one that i'm interested in positioning myself towards because if we do see a massive influx of tokenized assets coming on chain this could be a huge attraction for new tbl to come into the crypto market now in terms of positioning myself for real world assets there's a few ways you can do it the first way is essentially betting on individual real world asset protocols and this is probably your most direct way but it's also the riskier because even if real world assets succeed if a specific protocol fails then your investment could still go to zero the safer way but the less upside way would simply to be to invest in the blockchains the l1s the l2s that you believe in and you think are going to be home to the tokenization of assets because at the end of the day these blockchains make sequencer fees and revenue which in some cases are paid back to holders so the overall value of the chain increases however as you guys know you're not getting as much upside of course so you've kind of got to decide whether you want to go for a protocol based approach or an infrastructure based approach i like to do a little bit of both because then i can capture some of the massive upside but i can also have some safer bets to hedge against some of the protocol specific bets in terms of protocol specific players my favorite ones fracks i've talked about this a lot in the past but they're doing a lot with their v3 they've got fracks lend they're not just a real world asset protocol they've got exposure to other niches as well to hedge as well so i do like fracks as a play this is my personal favorite one in the sector make it also interesting i don't own any and i'm not planning on buying any anytime soon but this has definitely been the the leader of this narrative considering that they've been able to accrue over 600 million dollars worth of vault value thanks to their importation of treasury yields on chain so this has been a really successful one but i'm also seeing many different real estate products collectibles marketplaces and super interesting products starting to launch in the real world asset space so this is definitely one where you want to keep some capital aside and look to position yourself in this one uh over the next few months this is definitely one of the biggest growth verticals next cycle especially if we can get anywhere close to that 68 trillion dollar figure that bcg did suggest as a potential growth target by the year 2030.
Crypto Banter
A highlight from 5 BIGGEST Opportunities In Crypto THIS WEEK! (I'm Taking These Trades)
"In today's show we're going to talk about the five most interesting plays of the week, three of which I am actually taking. We have short setups, long setups in what is said to be a pretty interesting week for altcoin specifically and that's why I'm bringing to you my favorite setups of the week and also some of the most interesting coins that have altcoin specific catalysts. So if you do enjoy these watchlist shows every single Monday to prepare you for the week make sure to smash the like button and let me know in the comments below you do enjoy them and we will keep this going as a regular series. All right, kicking off with coin number one, we're going to be boring. We're going to talk about Bitcoin. Of course, it's not an altcoin, but it is in a pretty interesting zone right now, hovering above the key horizontal support level at the 25 -3 zone on the weekly. Bitcoin though, important to note, is still below the 200 MA on the weekly, which is typically a bearish indicator for Bitcoin. We know previous times that this level has acted as a major level of support and resistance. also So the 200 weekly moving average is super important and also the 200 moving average on the daily as well. So just keeping my eye on how Bitcoin reacts here, clearly 25k is that key level, but it doesn't look great for Bitcoin. Momentum in my opinion is still to the downside and the more we test that support the higher chance it does have of breaking, not being too bearish necessarily, but just urging you guys like a little bit of caution as long as we are below the 200 MA on the weekly. Let's get into the first altcoin of the video though in light of that, and that is Chainlink. So Chainlink is one that's actually performed really well this week in the lead up to their Smartcon. Their Smartcon 2023 is essentially a conference where developers and speakers all meet together and talk about the future of the industry, but specifically Chainlink. And we see there are many major speakers, the founder of Chainlink, we even have the former CEO of Google and multiple other major prominent figures across the crypto space speaking. So in the lead up to this, we've actually seen Chainlink perform really well from a price perspective. But in the graph in front of you, I do have the chart that outlines how Chainlink has performed in previous times leading into Smartcon and then leading out of Smartcon. And we can see in 2022, Chainlink actually peaked on the day of Smartcon and then gave up its gains in the following weeks. We can see in 2021, a similar thing happened. Two days before Smartcon, Chainlink peaked. And then after the conference, we saw a huge post -conference dump. Will the same pattern play out? Well, not necessarily, but I am convicted in the case leaning towards a dump post -Smartcon just given the price action that we've seen recently in line with previous data. So I'm convicted if I have to pick between longing and shorting Chainlink, but I think there is a decent short setup brewing here if it does push into the upper echelon of its range territory here on the weekly. And also, as you can see on the daily too, it's firmly within this range, actually approaching the mid -range zone. Maybe we get one last thrust into Smartcon because we know that the conference doesn't start until October 2nd. So that is still a week away. So I expect price performance probably to continue to the upside over the next few days. But then leading into the conference, if you are looking for a short, this may actually be a good one if those RSIs start to get into overheated territory just given what has happened in the past for Chainlink. So that is on my watch list, not as a long, but actually as a short, just playing the range here. We know if you take trades towards the extremity of the range, you're getting much better risk -reward. So the extremities being the upper echelon here near range high and the lower echelon here close to range low. These are your major levels that you want to take swing trades at considering since May 2022, more than a year Chainlink has been in this range. Very, very boring coin, pretty much a stable coin, but has provided great opportunities to those that have been able to long close to support and short close to resistance here. So maybe a setup starting to prime here on the short side if we continue to push upwards. Why wouldn't I long? Well, considering what's happened in previous conferences in line with the recent massive move that we've had, I think you may be longing into an area where it's going to be hard for Chainlink to push any higher. So that's that. All right, now we're going to have a bit of fun. Going to give away some money. So I'm making bold. Five users going to close my eyes actually to make sure I'm not accused of manually picking the users here. All right, I've just highlighted five people in bold. All of you guys are going to win $200. Bang, just like that. So every single person, this wallet here, this wallet here, this wallet here, here and here. If you are in bold, you are going to win $200. We're going to send it directly to your wallet. And that is because you provided liquidity on SmartX. So as you know, every single week, we are airdropping $200 to five random people that provide at least $50 worth of liquidity into SmartX across either Arbitrum, BNB, Base or Polygon. If you don't know what SmartX is, it's essentially an AMM -powered DEX, which is solving the problem of impermanent loss in crypto. A big problem to mitigate the negative effects of impermanent loss and also provide some pretty nice yield opportunities for people that are looking to earn yield on assets like Matic, like Arbitrum, like Ethereum, like BNB and all sorts of assets. USDC also, you compare with their native coin as well. So depending on what risk you want to assume, depending on which tokens you hold, you can stake it into the platform to earn some pretty nice APRs between 20 and up to 50 plus percent. And yeah, if you deposit minimum $50 liquidity and you enter your wallet address using the link in the description, you will enter the giveaway to be one of these lucky people that just won $200 on the show today. So link in the description. Good luck to everyone that is entering the competition for next week, where I will announce the next crop of five winners. And without further ado, let's get straight on with the show. The next coin I want to discuss is Arbitrum. Arbitrum is a really interesting one because they just announced their short -term initiative grant program, which is essentially a form of ecosystem stimulus. So we know when they did the airdrop, that was largely concentrated towards people that were using the Arbitrum chain, but actually now they are starting to help out the projects to incentivize them by essentially allocating some of their token supply towards the projects in the form of incentives grants. So what the projects can do is they can essentially bid for an airdrop. And if Arbitrum elects them via a DAO proposal, which is actually recently being completed, these projects will receive airdrops and then they can choose how they want to distribute those new tokens to their community. So I think that is a little bit of a catalyst to the Arbitrum ecosystem because we could see increased incentives across these platforms, which could obviously help attract some more TVL into the ecosystem. Next week, we also have Arbitrum Odyssey returning, which is also another initiative to get retail involved and you can earn rewards via that. As I said before, we've got this short -term incentive program launching with 50 million ARB, which is around $30 million being distributed to active Arbitrum protocols that apply for the grant. I think this will give the Arbitrum ecosystem a nice boost. I'm just looking at the chart here. Well, the chart looks ugly, but Arbitrum is at significantly discounted levels since it broke below this major dollar support region, which has been pretty strong support for Arbitrum since it first launched. So yes, technically Arbitrum doesn't look good price -wise, but I am maybe going to add a little bit to my bags this week. I have to decide whether I'm going to do that this week or whether I'm going to wait a couple of weeks. Nonetheless, I am definitely eyeing this as more of a spot trade, not a leverage trade because we're not at a key support level. My leverage trading scenario would probably kick in closer to this region if you do get like a confirmed reclamation. But until then, I'm definitely looking at the possibility of adding spot and that's why it makes my coins of the week, given it has a proprietary ecosystem catalyst, which comes in the form of the grants alongside heavily discounted prices heading into EIP 4844 later in the year. Another coin that's heading into EIP 44 being a layer 2 protocol is Optimism. But Optimism actually comes in as my short hedge of today's video. So you guys know in these watch lists, I don't just like to give long setups. I discussed Chainlink potentially being a short setup. Optimism as well, I think could potentially be a short hedge set up this week. What do I mean by short hedge? Well, a lot of you guys probably have relatively like long weighted portfolios, meaning like you're more long than you are net short. I mean myself, that's the case. And usually when I take longs in the market, that will put me in like a naked long position, meaning like I don't always like have a short hedge. But sometimes in markets that are looking kind of shaky, like right now when we get Bitcoin chopping and looking kind of weak, sometimes it's smart to have a hedge. So let's say you long three altcoins in a week. Sometimes it's good to pick like a specifically weak altcoin to hedge short against those other positions to get some sort of neutrality in case your trade goes wrong. Then you can kind of minimize the amount of risk you're taking. It's a strategy like all the top traders will use. And depending on your position size, you can even reach like Delta neutral territory with pair trades and all that sort of thing. But just to keep it really simple, I think Optimism has like a major unlock this week with over 3 % of the circulating supply hitting the market, $30 million worth of Optimism. The unlock event is in four days time. So this is a significantly big unlock for Optimism in what has been a pretty significant period for unlocks overall for the Optimism token. So in light of that, I mean, if you watch my video on token unlocks, search token unlocks, crypto banter, you should be able to watch that whole video. I explained what happens post major token unlocks. And typically what we see is despite peaks happening into unlocks, often the two weeks following the actual unlock date, we do see tokens tend to bleed and give up most of their gains. And if that plays out here on Optimism, then maybe we can expect like a rough couple of weeks from Optimism from a price perspective. So it's looking relatively weak. And if I look at the chart as well, we can see it put in its high here. It got rejected off this horizontal level at 1 .8 and it's made a lower high, another lower high, and looks to be rolling over again. If you start to clear these lows, then I think we could see further downside on Optimism. So those lows come in at the $1 .20 region. I'll just highlight them for you now. This level here, if you start to break below as we are now and you do confirm that breakdown, then Optimism could definitely be going lower. And for that reason, I would look at a short if we do get some sort of roll over here and a lower high start to firm up on the daily chart. But you could even look at it on the four hourly chart. Of course, you don't really want to take trades in the daily, use daily for your confluence, use one hourly, four hourly for your entries, depending on your timeframe. And yeah, Optimism definitely looking quite weak. So that is my short hedge of the week. So now let's get into a couple long scenarios because we've talked about two shorts. I've given you a long. Now let's talk about two more tokens that are more interested in longing that I am shorting. The first one is the OX token. Now for full disclosure, OpenX, the exchange, which is obviously powered by the OX token is an official show partner in today's video. I don't want you guys to get confused between the token and the partnership. I'm not paid to shield the token when I'm paid to promote the token. And I'm mentioning the token in a completely neutral light in today's video, just based on my personal thesis that has nothing to do with the partnership. Just want to make that very clear. The OX token though, the token itself, not the exchange, has, I mean, been significantly beaten down over the past few weeks. And this is because essentially a lot of users had locked up their OX tokens for three months after they bridged Flex, which was the coin Flex's exchange token over to the OpenX protocol and to stake OX tokens. And in light of that three months after they closed the bridge, you get a significant amount of unlocks because people are entering or coming out of their stake period. So when people come out of their stake period and they now have liquid OX, some people are going to choose to sell if they want to either take profits or just, you know, minimize risk on a maybe potentially oversized position that in tandem with users starting to receive their vested OX as part of the normal token distribution. We've kind of seen a lot of supply come onto the market over the last week. And this has resulted in a huge drawdown in the price from the 0 .7 region to the 0 .2 region. I mean, it's really been beaten down and I even took a loss on this cause I bought some OX and I staked it and I'm actually down on it. However, considering the staking ratio is still relatively high and there are a lot of people now going to be relocking for the long -term which reduces supply pressures. I do think that OX is starting to become a slightly more interesting look now at these heavily discounted prices if you do believe in the OpenX vision. And that vision is essentially, you know, of course, Carl Davies and Zhu Su but also betting on a protocol that's quite unique with its transparency features as well as the governance features of the platform which make it really unique for users like allowing you to, for example, stake OX and get its real -world assets in exchange for staking. So they do native airdrops. They've also been launching lots of tokens like really quickly. So they have this propensity to list tokens before any other exchange. So it's kind of like the degen exchange, I guess quite in tune with the market. And if you're betting on the redemption arc then OX does become an interesting bet. The volume on the exchange has been fairly strong $8 .5 billion trade volume since launch actually quite impressive. Average daily trade volume is around 100 mil on the seven day and or more than 100 mil on a seven day and 30 day timeframe. And actually 61 % of OX is staked and locked in the herd. So we are seeing some people after their unlock starting to actually relock OX tokens into the exchange. So look, you've got to make your own decision whether you wanna buy the token personally though not financial advice, but personally I will be adding some more to my bags and I'm gonna stake it as I staked a prior 10 ,000 OX might increase my position by let's say 30 % that would give me another 3000 OX. I'll probably go ahead and stake that. And that's my plan for the week but that's not financial advice. You don't have to do the same. And I wanna give full disclosure that OX is of course or OpenX not the OX token itself is a partner of the show. There's a link in the description to OpenX. If you do wanna check it out check out any information as well. And yeah, just thought I would mention that one because it's interesting getting a heavy discount if you do believe in the ecosystem, which I personally do. All right, let's get on to the next token. Another ecosystem I believe in and I believe in this one quite a lot. This is frack share. So I did a show last week. I think it was on real world assets and the potential. I mean, the sector is projected to grow by 26 X on the conservative side according to analysts at the Boston Consulting Group. On the more aggressive side of the spectrum they're anticipating 113 X in the real world asset sector by the year 2030. So that's seven years potentially looking at a 26 to 100 X. So this is a huge growth vertical and a massive adoption vertical for crypto really with tokenized assets coming on chain. And I'm always interested in protocols which are harnessing the potential of this. Now fracks isn't necessarily a real world asset specific protocol. They're doing a lot. They have their fracks land. They've got their fracks B3. They're launching fracks chain. They've got their stable coin. They've got a lot of stuff going on. They're essentially how I like to think of them as like a DeFi powerhouse. They're like the hand that controls DeFi, I guess. And is doing a bunch of stuff in multiple DeFi ecosystems. But if you're interested in real world asset exposure alongside a variety of other DeFi initiatives then I think fracks becomes a super interesting bet for a diversified portfolio. Now, the reason I'm talking about them in a watchlist video though, cause you know these Monday shows aren't just talking about long -term bets. Most of these are geared towards, you know the medium to short term type of trades is because fracks has its V3 actually completing its audit this week. So the fracks V3 audit means V3 is going to be on the horizon within the next few months. So that is an immediate catalyst for fracks as well as the fact that they could be getting an ARB grant because obviously their protocol is deployed across a variety of EVM chains, Arbitrum included meaning they could definitely get their hands on an Arbitrum grant, which would be another catalyst for the fracks protocol. So lots of stuff happening with the audit with the grant, with the new products that they're shipping fracks chain is also coming soon. So just lots to look forward to. And from a price action perspective it's been pretty resilient. Like we can see over the last 30 days it hasn't given up a lot of its gains. And even over the last 90 days, it has drawn down but it's only really dropped from, you know, 6 .8 to 5 .5 when a lot of other tokens have been smashed 30, 40, 50%. So yes, it's down, but it's not down as much as the rest of the market. And that tells me there's some sort of bid here for the fracks token at what is a discounted price versus a similar times last year. So fracks is an interesting one for me long -term mostly but in the short to medium term for me, this is a decent zone for me to add a little bit more fracks to my portfolio. And it's nice because it gives me DeFi exposure but it also gives me reward asset exposure. And it's a nice asset that I've just been DCA into over time. So that is a super interesting one. Let's just go through the market right now and actually look at Banta Bubbles and see if I can spot any that come to mind. Obviously I've given you a few trades in today's video but let's just see if there's anything else. Aptos actually does look interesting. It recently broke above some of the key horizontals that it was breaking down from over the past couple of months. So as a reversal trade, I definitely look into that. If I was a trader, I was even considering taking along today on it. I missed it unfortunately, but if we do get a pullback I might get into that one. So that's what I'm looking at. IMX not too interested in, let's just see on the weekly curve. Lots of stuff happening on curve but overall leans bearish with the amount of sell pressure in my opinion. FTT is a volatile one that if you're a trader you could definitely look at day trading. We know that there's lots of stuff happening with FTT given that the court case is currently underway and lots of the tokens now are changing hands and some are being sold. So it's quite interesting to see what actually happens here. We also saw some stuff happening with FTT and Binance as well. So those are kind of the coins from Banta Bubbles that I would keep my eye on. Another project to keep my eye on that's actually going to be launching soon is Serenity Shield. Now, Serenity Shield is a partner of the show that has a very interesting product launching soon. They're essentially launching a product which is referred to as the strongbox. Now, the strongbox is your ultimate security protocol for you to be able to store your assets in a decentralized, immutable and secure way. So if you want to store your assets but not have to worry about exploitation risk, not have to worry about ownership of keeping it on a centralized exchange, you can keep it in the strongbox protocol which is built purely for security to encrypt your data and encrypt your assets. But there are a couple really interesting features which they're introducing to make self -custody easier for the average user. One of them is the recover feature which enables users to have peace of mind knowing that their data is available using their recovery software without needing a hardware wallet which is available 24 -7. That's a good one because I don't know if you've ever been in this situation before but I have where I've lost a ledger and I can't find the seed phrase and I've been scrambling to redeem my assets. That's actually happened. I don't know if it's happened to you but if I had my assets in the strongbox that wouldn't have been an issue. The transfer function though I think is probably the most novel and maybe a kind of weird one to talk about since it's talking about inheritance which sometimes implies the death of yourself or potentially a family member but this does solve a massive problem in crypto and that's what happens if something happens to you. What happens to your tokens? What happens to your crypto? Are they easily accessible? Well in strongbox what you can do is you can put in a designated nominee and you can choose where your assets go if something were to happen to you to transfer your wealth down to your nominee. So it is quite interesting that they have this function inbuilt. It might be specifically attractive to adopt maybe the older generation that's actively thinking about this and they might hold bitcoin or ethereum but want those assurances and securities. They could leverage a protocol like strongbox that essentially enables them to have peace of mind over their assets and the transfer of those assets. So it's super interesting. You can see a little example of the platform in front of you. I will be using the platform on the show over the next few weeks to test it out for you but if you want to get involved right now they have a $50 ,000 search rewards pool. They recently had their token IDO, their sale to allow people to buy the token. If you want to get your hands on the token and you can do so via the airdrop all you need to do is click the link in the description and you can take part in the incentivized testnet for the strongbox dapp which is powered by the bnb chain. So all you need to do is essentially test out the application. You've got four days to do so using the link in the description and you could get an airdrop of some tokens. So not a bad one. If you just want to spend a few minutes of time there I will leave a link to this post which has a full tutorial and all the links needed in the description below and also in the comments as well to help you out. And yeah okay well that's pretty much the video. I got through it in a shorter amount of time. If you notice I'm speaking quickly it's because I want to get the info to you. We have the Bitcoin price which is currently leaning bearish but still at a major support but below the 200ma. You've got Chainlink which I'm looking at a short post conference. You've got Arbitrum which is interesting with its incentives grant. You have Optimism which I think is relatively bearish heading into a pretty significant token unlock. I just don't know if market conditions right now can absorb that amount of sell pressure. You've got Ox which I think is an interesting spot play considering a lot of the selling has now happened and we're looking forward to what hopefully is a slightly better period for the token with you know in the face of a lot of unlocks. You've got Frax Share launching their V3 and also their Frax Chain. This is one that I've been DCAing into and you've got the Serenity Shield airdrop as well. So that's the video. I'm going to see you in the next one which will be tomorrow. I really hope you enjoyed. I've actually been testing out a lot of training bots so I'm going to get back to testing out my training bots right now and I'm tweaking some strategies. That video will be coming very very soon. Very excited for that one but until then I'll see you later. Peace out.
Bankless
A highlight from Vitalik Buterin: Ethereum For The Future
"Welcome to Bankless, where we explore the frontier of internet money and internet finance. And today on Bankless, we're exploring some new frontiers about the future. I think quite frequently in the crypto Web3 and Bankless content sphere, when we talk about the future that crypto brings, we use frames of references from the past, TradFi, to talk about the future of finance, DeFi. We want to fix Web2 with Web3. But today on Bankless, I want to bring this conversation that we had at Permissionless with Vitalik. The opening day, the final day, day three of Permissionless that we had with Vitalik that we called Ethereum for the Future. I think it's very easy to imagine use cases like DeFi, like Web3, like NFTs, when we have previous correlates to understand as a frame of reference to think about what a new form factor for these things could be. But what about the things that Ethereum can produce, that Web3 can produce, that don't have a historical form factor? What about the new use cases, the net new things that can emerge because we have the new properties of what crypto can bring to the table? This is the theme of this episode and the conversation that I had with Vitalik Buterin. The sibling technologies, AI, decentralized science, synthetic biology, lots of the things that happened and went down at Zuzalu, but really just as a meta theme of understanding the new things that will come out of crypto, the things that we can't articulate. I asked questions to Vitalik like, if he could duplicate himself and start a startup, which industry would he start it in and how would it relate to crypto? What does he want the Web3 builders of the world to focus on that they might be under indexing on because imagining an unspoken future is hard? How will Ethereum be a platform for all of these new future use cases that we can't yet imagine? And knowing that Vitalik has gone down these rabbit holes of different industries, different technologies, how has that exploration changed what he thinks Ethereum can do for the world? Like I said, this talk opened up the third day at Permissionless where a lot of people's minds and imaginations were already opened up to some of the future things coming into the crypto world. We have the Solana virtual machine. We have 4844 and scale and dank sharding and we have account abstraction and EIP 4337. A lot of things that can really make the future of Ethereum tangible from a technical perspective and I really wanted to bring this conversation to the foreword with now that we have this technology what can we do with it and can we imagine some new things rather than just reimagining the old things. Reimagining old things is definitely why we're here but there's also going to be some nice surprises that we won't be able to articulate and hopefully Bankless Listener, this conversation with Vitalik from Permissionless can open your mind to I as well. Let's go ahead and get right into this conversation with Vitalik Buterin but first a moment to talk about some of these fantastic sponsors that make this show possible. Extra thanks to Kraken our preferred exchange for crypto in 2023 whether your dollar cost averaging into crypto to prepare for the bull market or you're taking profits out of crypto be sure to do it with Kraken the newly designed Kraken Pro makes it super easy to do both your basic financial transactions while also taking your trading to the next level Kraken Pro is truly the trading UX that you've always wanted. So if your bull market archetype is the trader class you need Kraken Pro in your toolkit but if your character class is more of a DeFi journeyman or woman then MetaMask Portfolio is the tool for you. MetaMask Portfolio is your DeFi multi -chain battle station. Any asset on any Ethereum layer 2 MetaMask Portfolio will present it to you so don't get caught forgetting assets or missing opportunities make sure you're prepared for the bull run by prepping your MetaMask Portfolio. Moving on from tools you need to playing fields to play on the arbitrum layer 2 is one of the main arenas in which this bull market will be fought on whether your character class is a DeFi degen, airdrop hunter or healed seeker the arbitrum Colosseum is where a ton of the action is going to be. So whether you're on arbitrum 1 for DeFi NFTs or arbitrum Nova for Web3 gaming or a new frontier on arbitrum using an arbitrum orbit chain there are so many opportunities to sink your teeth into but as we know the Ethereum roll up centric roadmap produces all kinds of layer twos and mantle is one of the newest layer twos on the scene with some of the newest technology that Ethereum layer twos has to offer in the year 2023. Mantle is built using the OP stack but uses eigenlayers data availability solution instead of the expensive Ethereum layer one reducing gas fees by 80 % compared to other layer twos with billions of dollars standing by from Bitdao to invest in mantle make sure you stay ahead of the game by building and growing your on chain footprint on mantle.
The Bitboy Crypto Podcast
A highlight from What is VRA and Will It Moon? - Verasity DeepDive
"Is Veracity a dud or altcoin gem that will pop during the bull run? I'm going to take a look at its fundamentals. It's time to discover crypto. Veracity is an open ledger ecosystem bringing trust and transparency to digital advertising and payments. Never heard of it? Perfect. Because crypto winner is the best time to educate yourself and learn as much as you can so you can make sure you're ready for the next bull run. Let's kick things off with a little token overview. Veracity is currently trading a shade over four tenths of a cent and is sitting at a deep value market cap of about $42 million. This puts it deep in the pink sheets way down at number 422 on CoinGecko at the time of shooting. I've always wondered if the GeicoGecko and the CoinGeckoGecko knew each other in gecko business school. Speaking of which, make sure to check out the BitLab Academy and find the courses that are right for you so you can learn from the pros and take your crypto education to the next level. Anyway, as you can tell right off the bat, Veracity has a pretty low market cap even by most degen standards like mine. Now, I know it's a deep bear market and the market cap of all the projects in crypto are down bad right now, but any project with a market cap of less than a billion dollars, I would personally consider to be a small cap. Small cap means that there's a greater potential of returns if the project catches major adoption, but this also usually means increased risk as well. Two of the biggest things that can be a concern are trading volume and liquidity. If you take a look at which exchanges currently list Veracity, you'll see that some of the more popular ones are like Gate .io, KuCoin, OKEx, Crypto .com and Uniswap. By the way, you can sign up for a KuCoin account using our affiliate link in the description. Now, it is important to note that you won't find Veracity listed on the big boys like Coinbase or Binance just yet. It's still very early days for this project, so please do your own research and invest in trade responsibly. If you appreciate me coming at you with some clear -eyed crypto caution, go ahead and drop a like, subscribe to the channel and turn on channel notifications so you'll be around for when I finally cut loose and go full DGen DZ mode on everyone in the next bull run. Taking a look at the price history, we can see that Veracity's native ERC777 token VRA hit its all -time high in November of 2021 and peaked out about 8 .6 cents. Since then, it's been on one of them big bad bear market slides that most projects in the altcoin market have also followed. One final thing to call out about the tokenomics on this one before we dive more into the history and fundamentals, the current circulating supply is around 10 billion 305 million, and the max supply will be around 110 billion. The reason for this is that this project is holding 90 % of their supply in reserve until their platform fully launches, which makes sense, but ordinarily, a difference of max supply versus circulating supply that is that big would be a huge red flag. So keep your eyes out for things like that when you're doing your own awesome altcoin research. Okay, enough about the token price. What's Veracity all about? Veracity was founded in 2017 by entrepreneur and pensive -looking technologist RJ Mark. Veracity offers a unique patented Proof -of -View system through which it plans to solve the problems of video advertising and NFT fraud. Veracity's product lines range across multiple industries but are all built with the Proof -of -View system and the VerView's platform as their backbone. It offers a Veril wallet on its blockchain network on which the VRA token is used as the main currency for participating in the online variety and video game economy. It also offers staking rewards to users. It's a protocol and product layer platform for eSports, video entertainment and digital content management. Its products include an ad stack and the VRA reward system, which has been integrated into SDKs for YouTube, Twitch, Vimeo and all major video platforms. Okay, so what's the problem this project is solving in plain English? Well, if you ever spend any time on social media, I'm sure you've noticed that there are a ton of bot armies out there, and the interwebs are getting into all kinds of shenanigans, spamming, trolling, fishing and just generally mucking it up for all of us human beings. This is a problem for advertisers because they have no way of knowing if their ads are actually reaching real humans or if they're just serving up impressions up to the lifeless bots. It's been estimated that by 2025, advertisers' total losses due to ad fraud could shoot up to $100 billion. So it's clear this is a big problem. Veracity leverages blockchain technology and their unique consensus algorithm Proof of View to ensure every view captured on the ledger is authentic and ultimately provides stakeholders within the video ad space a trusted single source of truth for capturing verified human views in real time. Oh, and just a reminder, they filed a lot of patents to protect their tech as well. Pretty cool, right? Personally, I think things like this are the key to mass adoption. Quality projects using crypto to solve real world problems that can't be tackled without the blockchain. Veracity has two major branches of the project, the VRA token and the Vera wallet which allows users to spend VRA tokens, earn VRA rewards via staking or earn VRA by participating in activities on the network and the Vera Views platform along with everything being built on it. On November 8, 2021, Veracity announced that they would be rebranding an esports platform to Vera Esports in order to establish their vision for how their feedback cycle of watch to earn value creation should work. The cycle has four key elements. First, Vera Esports secures broadcast rights to exclusive tournaments. They offer access to streams from some of the biggest names in gaming with tournaments hosted by the likes of Valorant, Riot Games and Axie Infinity. It's also teased an upcoming NFT marketplace with both in and out of game content for its users. Next, their content is made available on the Brightcove media player with the Vera Views ad stack built in. Third, Vera View protects publishers against fake views who then come to realize it's a superior solution for preventing ad fraud across all of their content and is consequently much more profitable. Fourth and finally, Vera Views adoption is increased and Veracity's revenues are used for operating expenses and their VRA buyback program. Sounds complicated, I know, but the gist of it is by building a system that is better for viewers, advertisers, content creators and really just all the stakeholders in the system, Veracity is able to incentivize all participants and then share the value they are creating with all of the users because that's how we do it in Web3, baby. For more details on the history of what they're currently working on, I recommend checking out their roadmap. They have a very detailed roadmap that lays out every step of development they've taken along the way since launching in 2017. They have well -defined and specific goals to achieve their business cases in each market. Today, Veracity has met all of their quarterly roadmap goals, and some recent achievements include updates to the Vera Wallet, referral integrations, exchange listings, growing ad campaigns, running eSports tournaments and launching a revamped tournament site. These guys really have been busy this bear market. Okay, I think I'm going to leave it there for the time, obviously, there's a lot more to this project than what we've covered here today, and I definitely recommend taking a closer look at some of the patents they filed on things like rewarded video because as the Web3 internet of value grows and gains market adoption, there's going to be a lot of new projects like Veracity rising up to challenge the dominance of the Web2 companies as well as other Web3 rivals like Theta. None of us can predict the future, so it's impossible to say for sure what's going to happen, but Play to Earn, Watch to Earn and you name it to earn are all going to be pretty exciting crypto niches in the next bull run, so you have to subscribe to the channel. Make sure you stick around and watch what happens. Let me know down in the comments what you think of Veracity and whether or not you think that VRA token is destined for a new all -time high in the next bull run. And let me know if you have a favorite Watch to Earn platform you think we should check out as well. That's all you got from Deezy. Thanks for watching Discover Crypto. Hit that like button on your way out. We'll see you at the top. It's a colorful story. It's a one of a kind story. It's a story that spans 8 ,000 majestic acres of Blue Ridge Mountain beauty bathed in shades of orange and crimson. It's a story of four -star evenings, locally sourced cuisine and award -winning wines. Of warm fires, crisp mountain air and old world charm. It's a story of 1 ,000 men and the six years they spent creating America's largest home, with 250 rooms, each with its own stories to tell. But all this can't begin to tell the full story of autumn at Biltmore. Come walk in the footsteps of the Vanderbilt family and experience the fleeting magic of the season before it slips away. Because as wondrous as the story of autumn at Biltmore may be, it can never be complete without you.
CoinDesk Podcast Network
A highlight from THE HASH: Pepecoin Team Puts Blame on 'Bad Actors'; PayPal's Stablecoin Adoption Outlook
"This is the hash podcast. Stay informed with the latest on Bitcoin, ETH, the metaverse, web3 and more. All on the hash for your ears. You're listening to the Coindesk podcast network. Hey there and welcome to the hash here on Coindesk TV. I'm Zach Seward. That's Jen Sanasi. Wendy Oh. Will Foxley. We're the hash today. We're getting you up to speed on what's going on in the world of crypto and more. And we're going to start off with some PayPal news from Jen. Jen, take it away. All right. PayPal's new stablecoin is off to a slow start. That's according to data from Nansen. The data firm says that few people are using or holding PYUSD token in self -custody wallets. They also said that smart money holders seem to be avoiding the stablecoin so far, saying that Paxis is custody in more than 90 % of supply and exchanges like Kraken and Crypto .com hold just over 7 % of supply. Will, I'm going to pass this one down to you. Are you surprised? There was a big excitement in the industry when this news was announced, but are you surprised to see that maybe not a lot of people are holding onto these stablecoins just yet? I'm not super surprised. I mean, it just launched. So I think we just need to be patient a little bit here. We're also like in the depths of crypto winter. This isn't like a bear market anymore. This is just a total lack of interest apathy all over. So for people not to be picking things up right now, that's not surprising. I hope PayPal looks at these numbers, whoever the product manager for this product looks at it as like, okay, the time will come for this at some point. And they probably baked out into the strategy as well, right? They have a lot of resources to be able to look at the market and look at the past launches these coins. And sometimes they take forever to get adoption. I would suppose that they actually are working with larger companies and doing a B2B model as opposed to a retail model first. And that'll also help them out on the regulatory side, right? Where they're not just like issuing this token out to anyone who has Venmo, who has PayPal and desktop, they're probably going to go work with institutions and larger companies work first to see if this actually works for them. So that's not super surprising to me. Just how the market is right now, Wendy? I am not surprised at all by this. Guys, we're in a bear market. So this makes sense that there's not going to be a whole lot of usage with crypto, especially when we're talking about like Web2 brands. PayPal is a massive Web2 brand that facilitates money to people all over the world. I used to use it for eBay all the time. So I don't understand why people would just jump on the stable coin bandwagon from PayPal when it's just a lot easier to use cash and to use electronic currency in that fashion. So to me, it's no big deal. And yeah. PiUSD I think is very much retail play, right? And we've seen over crypto history that retail excitement happens and then retail excitement goes away, right? The DeFi degens aren't going to be aping into PiUSD to do cool things on chain, right? So I think what we'll see is a slow, steady uptick, possibly, until sort of that next euphoria kicks in. And then I'd be interested to see what happens then, right, when stable coins become a bigger part of the picture at the retail level, at the PayPal customer level, as opposed to those who are familiar and conversant already with things like Tether or things like USDC. So yeah, holding judgment on this one, because I don't think it's necessarily going to be super duper on chain bonanza with PiUSD for the foreseeable future, just given those broader market conditions. But it could be a really interesting sort of retail indicator, or I guess retail index for stable coin usage going forward into that next wave of excitement. And that I think will be the revealing data is still to come, our adventure about what PiUSD means for the market, as it relates to onboarding folks from, again, these highly custodial options into more crazy on chain stuff. That I think could be a really interesting set of data that we'll certainly look at in the future. But Jen, saw your hand. Yeah, no, I agree with all of you. I think it is just a low time in the crypto markets. There's a report on CoinDesk this morning saying that Ethereum has hit its eight month low when it comes to daily transaction fees. So I think this isn't just a stable coin conversation. I think PayPal is going after a very different audience and some of the other stable coins that are out there are going after and it's slow and steady wins the race here. I don't think that they were expecting to see massive, massive mainstream adoption right away, just given what's happening, not only in the markets, but on the regulation side of things, too. And so I can imagine that they're treating this as like a pilot or testing phase. And I expect, and again, this is backed on no insider information, haven't spoken to anyone from PayPal. But I probably expect them to come out with some kind of educational strategy to get that mainstream audience once there is more interest, once we hit the next bull cycle and there's some collaborations and partnerships in the works. So yes, I am also not surprised by this report and I hope that it doesn't shake PayPal, because there's probably a longer strategy here. You guys ready to move to Prime Trust? Let's do it. This is like worse news, but it's still stable coin land news. So Thursday, we got new core filings from CEO Jor La, who spoke about the poor investment in the Terra Luna stable coin. Prime Trust lost $6 million of client funds and $2 million from its own treasury. This, of course, comes after they lost about $80 million total in both fiat and crypto of client money when they had their wallet set up incorrectly. Right now, Prime Trust is going through a receivership process with the state of Nevada. Prime Trust was one of the largest backends for a lot of crypto marketplaces. People use them to build wallet services for exchanges, for receivership and ownership of crypto assets. Now it's starting to fall apart a little bit. This also comes after BitGo tried to purchase Prime Trust, but that fell through again because of a lack of financial security within the firm. Jen, I'm going to throw this story over to you. More bad news at Prime Trust, like there's the legal filings for this one are put up with the best of the best in terms of like bad judgment decision making from companies. What a mess. Now, I have to say, when I read, you know, poor planning, like companies in the bull market had poor planning, they couldn't see what was going to happen in the bear. I am a little bit sympathetic because, you know, there's a lot of demand in the bull market. There's a lot of like mainstream collaborations and partnerships and you need resources to keep up with that. That said, I don't think that happened here. I think that this is just a total mess when I read through this. There's some stuff I want to point to. They said that they were outspending and gave some numbers. So October, the company spent ten point five million dollars but only made three point one million dollars. So they lost seven million dollars in October. And then it's like no one learned anything. They went on to November and spent eleven point one million dollars and lost eight some odd million dollars. And so that is crazy. I feel like that is poor planning. That is not looking at what's happening at your company and readjusting and being flexible. And those are some of the allegations that are made against the executive team here that they were not able to adjust and be flexible. The other crazy thing here is this wallet situation. They lost access to their wallet because I'm just going to tell our audience what happened here super quickly. And I'm going to pass it to Zach because he is nodding along with a big smirk on his face. So Prime Trust moved its wallets over to a system operated by Fireblocks. Then they did not realize that the migration from the legacy wallets to the new system was incomplete and that customers were still sending funds to that wallet. And then it learned the mistakes later when an unidentified customer requested a large amount of ETH and withdrawal and they could not fulfill that. And then it seems like they were converting fiat into ETH to fulfill these requests, which just sounds crazy. But I'm honestly not shocked or surprised, given all the news we've been covering over the last six months to a year. Ah, the case of 98F, that wallet episode. It just reads like, Prime Trust, no good, very bad, horrible day. That whole saga. We knew a little bit, I think, back in June about this mishap that occurred when they were transitioning their system over to Fireblocks, which is another custody provider. And that one just reads like a saga of pain. So yeah, check out the court filing for a full telling of the 98F episode and then think to yourself that, yes, custody and digital assets can be hard even for those professionally entrusted to do so. So I think the custody conversation is very relevant here. I will point out that the Terra Luna collapse continues to be the gift that keeps on giving. So much of the pain in the market really stems from people getting overextended into that ecosystem on the strength or the apparent strength of the promises by Dilkwan and others. And that ended up being sort of a landmine that many a project, including now Prime Trust, stepped on in terms of losing funds and losing the ability to stay solvent. So yeah, Terra definitely part of this story. But I think probably the bigger picture is that custody story, right? We keep going back to this idea of like custody is a set of trade -offs, self -custody has its own trade -offs, having a custodial arrangement with an outside party has another set of trade -offs entirely. But this one to me just represents, again, the difficulty that many people, especially entering the space, face when thinking about this challenges of self -custody because these guys got burned really bad by not being able to access something that was a big part of their business. And they only realized later on that, oops, we don't have the steel engraved things that we need to access this and it just becomes a big, big problem. So the custody angle maybe is the most illustrative here for people themselves, but certainly, yeah, pretty painful telling of that whole episode. But yeah, businesses, man, they remain fascinating to cover because you get these sort of after the fact tellings of all the things that went wrong. Wendy, what do you think? What happens if we ever have a Bitcoin -backed ETF that's from TradFi and they actually have to hold the Bitcoin and somebody loses the keys and that happens? Oh man, that'll be a day. Oh boy. Let's hope that doesn't happen. That's my take. That is a hot take, Will. What happens if... But no, I'm being serious. What happens if the SEC would have stepped in initially and said, hey, if you're going to be custody in these products, if you're going to be acting as a broker or whatever it is, you actually have to have the reserve set to a certain area. Like we have to be able to check to make sure that those reserves are set more transparent. If the SEC would have actually done their job, I feel like we wouldn't have had as many of these problems. Like Japan is a perfect example with the whole Gox situation that any type of crypto exchange or whatever type of services operating there, they have to actually show those proof of reserves. So again, I feel like our public servants have yet let us down again. And it's very sad that they're kind of like the parents that just kind of let you run off into the wild and then get hurt. And then they come down and they just punish you like a million times harder.
Bankless
A highlight from David's Take: This is the Last Cycle
"Welcome, Bankless Nation, to Davis Takes, where every single week I drop a take in the Bankless newsletter and I read it to you here on the Bankless podcast. Last week I wrote about my big takeaways from ECC and all the industry themes that I identified from attending the talks, meeting with others, and overall just integrating the knowledge that is shared at these events. If you missed that episode, definitely go back and listen to it because the information there I think will help you navigate the next meta of crypto that we are seemingly soon to be embarking upon. This week I continue that exploration of industry themes and progression in a very boldly title. This is The Last Cycle, in which the title itself caused a bunch of controversy on crypto Twitter almost exclusively from people who didn't actually read the article. But how could I blame them for not reading the article because if people actually did read articles in this industry, then I wouldn't need to read them aloud on the podcast. I say right in the introduction, quote, the next crypto cycle is going to be the last one, end quote, is kind of a meme statement in crypto land. It's been stated before, and I don't mean to make a clear, convicted prediction about this. I'm simply connecting some dots across the crypto landscape that point towards a new phase of crypto after this bear market is concluded. If you look closely, there are a handful of signs pointing towards crypto entering its last market cycle before finally exiting its developmental phase and entering its long term era of maturity, stability and growth. This is the subject of this week's take. But first, before I read you my take, a moment to talk about some of these fantastic sponsors that make this show possible. Extra thanks to Kraken, our preferred exchange for crypto in 2023. Whether you are dollar cost averaging into crypto to prepare for the bull market or you're taking profits out of crypto, be sure to do it with Kraken. The newly designed Kraken Pro makes it super easy to do both your basic financial transactions while also taking your trading to the next level. Kraken Pro is truly the trading UX that you've always wanted. So if your bull market archetype is the trader class, you need Kraken Pro in your toolkit. But if your character class is more of a DeFi journeyman or woman, then MetaMask Portfolio is the tool for you. MetaMask Portfolio is your DeFi multi -chain battle station. Any asset on any Ethereum layer 2, MetaMask Portfolio will present it to you. So don't get caught forgetting assets or missing opportunities. Make sure you're prepared for the bull run by prepping your MetaMask Portfolio. Moving on from tools you need to playing fields to play on, the Arbitrum layer 2 is one of the main arenas in which this bull market will be fought on. Whether your character class is a DeFi degen, airdrop hunter, or healed seeker, the Arbitrum Coliseum is where a ton of the action is going to be. So whether you're on Arbitrum 1 for DeFi and NFTs or Arbitrum Nova for Web3 Gaming or a new Frontier on Arbitrum using an Arbitrum orbit chain, there are so many opportunities to sink your teeth into. But as we know, the Ethereum roll -up centric roadmap produces all kinds of layer 2s. And Mantle is one of the newest layer 2s on the scene with some of the newest technology that Ethereum layer 2s has to offer in the year 2023. Mantle is built using the OP stack but uses Eigenlayers data availability solution instead of the expensive Ethereum layer 1, reducing gas fees by 80 % compared to other layer 2s. With billions of dollars standing by from Bitdow to invest in Mantle, make sure you stay ahead of the game by building and growing your on -chain footprint on Mantle. Let's not forget about the ETH staking character class and Stater makes it easy. Running a staking pool with Stater just requires 4 ETH for a deposit, letting you charge a fee to the remaining 28 ETH that uses your node to stake their ETH, increasing your yield by 35%. Stater's staked ETH token ETHX allows you to stake your ETH and use it in DeFi at the same time. For all you DeFi swappers out there, this one is for you. UniswapX has opened up a brand new landscape to play in and it's the world of intents. This is where those who employ the swapping ability get to team up with the evil MEV bot army and they get to band together to discover the most efficient liquidity route through the Ethereum landscape. Gas -free swaps, MEV protection, and theoretically optimal pricing. When swappers and MEVers come together, new metas happen and it's thanks to UniswapX. So the next time you trade on Uniswap, consider clicking the UniswapX button to get your MEV protection. And so, if we're truly entering a bull market phase in crypto, which we totally are, then tokens are going to start flying all over the place. So if you're an organization looking to grow with token incentives, then look no further than Toku. If you want to distribute tokens to your employees, team members, or for payroll, Toku can help you comply with labor laws, tax obligations, and reporting for whatever country you employ someone. Crypto is entering its regulated era and Toku can help you achieve your token incentive award goals with compliance. So thank you to all the sponsors that support Bankless and all the podcast editors, newsletter writers, and operations managers who make the Bankless organization the best that we can be. We truly appreciate your support. And for all the listeners out there who listen to the mountains of content that we turn out each week, especially this one right here. So let's go on to the show. I hope you are ready to hear about why I think that this might be the last cycle that crypto ever produces. And the first reason, the first rationale I have is about the regulatory and institutional approval climate in crypto right now. Crypto is going through its largest regulatory battles ever. Indeed, this has always been inevitable. As an industry based around money and finance, we cannot simply just waltz into mainstream acceptance without going through the trials of regulatory acceptance. In order for the biggest players to be able to play in Web3, they need assurances that the nation state and its monopoly on violence actually allows them to do so. Becoming mainstream means that crypto makes it through these regulatory trials. But don't be scared. Crypto wins no matter what. All we have to do is wait until the hazing is over and it can only last for so long.
Crypto Banter
A highlight from This Hasn't Happened Since The 2008 Financial Crisis (Investors BEWARE)
"Welcome back to my new series called The Week Ahead where every single Monday, we go through the charts and I give you my top trades for the week as well as look at the biggest events for the week. This week is going to be absolutely massive. We have big Bitcoin news with the gray scale verdict from the SEC. We also have major levels on the charts right now which we are currently reaching which I want to talk about. And we also have some crazy news out of the US market with the 10 -year treasury yields starting to make new highs. What does this mean for the market? Could it signal a greater market collapse amongst equities and crypto? We're going to discuss all that and more and then get into some of my favorite crypto specific plays for the week and have a look at some trades, both longs and shorts. And I'm going to do this series every single Monday to make sure every single week you are updated with everything you need to know in the market. So if you are enjoying this new series, if you watched last week or even if this is just your first time, make sure to smash the like button and show some love. Without further ado, let's get straight into it. Where is Bitcoin currently sitting? Well, it's currently sitting just above support of the 25K region on some exchanges that actually slightly are with below the 25K zone. After it broke down on this trend line here, we can see a 28 .5 and it also broke through the 200MA on the daily. So Bitcoin just hanging out right now but is a very pivotal week for Bitcoin. We're going to get into some of the reasons why it's such a pivotal week for Bitcoin in just a couple minutes here. Something else I want you to pay attention to is the weekly chart for Bitcoin. We can see we've had this week of the 200MA on the weekly, technically a higher low for Bitcoin. However, this is an extremely important level, right? Because if you break below this 25K zone, then you are starting to target some lower numbers like 22 to 23K. That's your next major support. So Bitcoin really does want to hold this region. I think this week is going to be a massive week because you do want this weekly candle close above the previous low. If you get a close below the previous low and start closing below the 200MA on the weekly, that is a very, very bad sign to Bitcoin. And that might be an indicator that you should start de -risking out of markets depending on how you trade. Of course, if you're a spot long -term trader, you may just be viewing this as a buying opportunity. All the traders out there, though, are going to be keeping your eyes very closely on that weekly close. So what is happening in the US economy? This is pretty crazy. We have the 10 -year US Treasuries actually hitting their highs for, I think, the last decade. So US Treasuries haven't been this high since 2009. Actually, if they go up another 0 .5%, they wouldn't have been this high since the global financial crisis in 2008. It's absolutely nuts. We are seeing investors go a little bit risk -off when it comes to investing in the US economy, obviously rising debt levels. As you can see in front of you and just the amount that they are borrowing in relation to income does have investors just a little bit spooked in terms of parking their money in US Treasuries. During this quarter alone, the US is expected to issue a near record 1 trillion in Treasury debt. This is the second highest on record after the 2 .8 trillion issued in Q2 2020 during the global lockdowns. Over the next two quarters, the US is expected to issue nearly 1 .9 trillion in Treasury debt as spending rises and tax receipts fall. The US is issuing record levels of debt to cover the deficit. Both spending and borrowing are out of control. What do the 10 -year Treasury yields rising to new highs actually mean for the market? Well, yields have risen to levels not seen in more than a decade as investors demand higher risk -free rates of return amid a resilient US economy. The sell -off comes amid worries around larger US fiscal deficits, as we just discussed, that will increase the supply of Treasury debt. The move higher across the curve over the last few weeks has really been all on the real yield side. Zachary Griffiths, Senior Fixed Income Strategist at Credit Site said, With the higher Fed policy rate or better growth expectations, with little shift in breakeven inflation expectations, together these factors have found expectations that US market yields are entering a period of being higher for an extended period and closing the door on the post -financial crisis era of ultra -low rates. So I think it is very scary for the market overall here, just to summarize that we are seeing Treasuries go even higher. It doesn't necessarily signal like, you know, an equities crash because they don't always move in tandem. But what I would keep my eye on is if this continues to gain trajectory to the upside, because it could indicate that something is seriously wrong with the US economy. I mean, the warning signs are starting to kind of pop their head out now and starting to flag across a few different sectors of the US economy. Treasury yields obviously being one of them. So let's keep our eye on what happens here. But probably not the best sign that, you know, because it shows that investors are becoming a little bit risk averse in terms of parking capital in Treasury bonds in the US. Obviously, with these debt levels continuing to rise, it's something I would keep my eye on. And as you can see in the chart here, these levels have not been seen since basically the GFC in 2008. So that is a little scary sign if you want one, but I'm sure you don't want one. Another bit of scary news in the market is surrounding BNB. And this is one of the coins today that I really want you to keep your eye on this week because BNB right now is basically a proxy for risk in this market. It is obviously the governance token of the biggest exchange in crypto by volume still, which is Binance. And because the BNB token is so intermingled with the Binance ecosystem, we know Binance employees were getting paid in BNB. We know a lot of the launch pools are stuck with BNB. We know that, you know, BNB is often a great source of FUD. If we do see a liquidation cascade here on BNB, I think it could have greater ramifications for the market's risk appetite towards all of the old coins, not just BNB itself. So because of this systemic risk, BNB does become, in my opinion, the top token to actually watch this week alongside Bitcoin. You have this very key level at 210, which actually just broke down. We have seen some liquidation starting to occur. And there is a big on -chain BNB position, which is now close to being liquidated around the $200 level as we also see open interest on BNB, presumably to the short side starting to rise. If BNB does start breaking down below $200, I think that could be a major warning sign. To be honest, 220 was already the big support for BNB, which it is now broken below, which was the lows of the SEC FUD, the lows of the insolvency FUD. So things are looking a little bit risky for BNB. And because right now this is a proxy for risk, definitely one token to keep your eye on this week. So let's go through my list of coins that I'm watching now that you have a feel for where the market is. And let's start with Bitcoin because two major dates for Bitcoin this week and a pretty pivotal week in terms of market structures we discussed before with Bitcoin sitting on that weekly 200 MA at a very crucial support at 25K. We have had a little bit of a rally since those lows, which is a great thing, but we would need to sustain momentum into the week. As soon as you start closing the week below 25, that is a really bearish sign for Bitcoin. Now, this week is a very important week because of the grayscale ETF decision. Grayscale wants to convert their ETF from a futures ETF into a spot ETF. And for this reason, we are going to potentially this week get a precedent for how the SEC views Bitcoin's spot ETFs. They can also choose to delay again, which they may, and some are speculating we won't get an SEC verdict, maybe even into 2024. However, this is still an important week in case we do get a verdict, either a hard rejection or a hard approval, definitely could cause some market moves. That's expected to happen around Tuesday or Wednesday. So that would be tomorrow, depending on which time zone you're in. The other thing that is quite important at the moment is the general spot ETF approvals because grayscale is positioned in a unique way with their current existing futures ETF. A rejection there could be due to a grayscale specific conversion issue, which is why I also think you should be monitoring the overall ETF applications for ARK, iShares, which is BlackRock, etc. We are going to start to see them, as you can see here, get approved, rejected or delayed as of the 1st and 2nd of September. So definitely keep your eye out next week for some of these approvals, rejections or delays. I do assume, though, this will be delayed and the can will just be kicked down the road probably to the end of the year or early 2024. Bitcoin really does need a catalyst, though, to really trigger that next move back up to the upside, you know, to that 30K region. I think the only way Bitcoin is going to get that is if we get some sort of spot ETF development. I know it's the obvious answer, but right now, that is what the market is hanging out for ahead of what is historically a pretty negative month for Bitcoin. September, actually, the only month that has an average negative return for Bitcoin of minus 4 .67%. So September, usually a very red month, which is why I'm just a little bit cautious heading into September, not longing like crazy. I am looking for some good altcoin opportunities as we're getting some dips at the moment. I'm going to talk about some of the alts that I am buying in today's video, of course, but overall cautious about being too long. I'm certainly not leverage long in this market at the moment. I'm mostly spot long if I'm longing anything, trying to avoid crazy amounts of leverage for the time being because it's a very difficult market to trade. It's not really a range traders market at the moment. It's more of a scalp traders market, at least this last month, unless you targeted that extremity at 30K. Even then, it was easy to get blown up in that push expansion high to 31 .5. So for me, mostly a spot market. Now, speaking of spot, what am I doing in terms of altcoin positioning? Let's run through the 10 altcoins that I'm looking at most heavily this week. Rollbit leads this list. I'm still interested in Rollbit. I think we have had a pretty decent correction of Rollbit since it originally dropped from $0 .21 all the way back down through $0 .13 to $0 .14. If you have a look here, you can see that their casino revenue is actually driving a lot of their fees and subsequently the RLB burn. The RLB burn has dropped over the last week compared to the prior week. So volumes on the exchange are lower. Our futures revenue is also slightly down. Sports revenue, however, is starting to pick up a little bit into the $200 ,000 range, likely as football and NFL and NBA start to come back. So I do think with increased market volatility and sports book side of things picking up, we can see Rollbit continue to increase in its fees, still burning a crazy amount of tokens ahead of their Rollbit's degen exchange launch, which is going to be their platform for trading perps with high speed, high execution, high risk for risky coins. I think a lot of gamblers are going to enjoy that. While we're on the narrative of altcoins that have strong trends behind them, I think it would be remiss of me not to mention Unibot as another one that has started to cool down off its highs. This is actually one that I'm actively DCing into, made a couple of buys a couple of days ago. Since then, it has upped slightly, which is a nice thing. I think if you can get another look around that support at 135, that's good. Actually now sitting back on its high timeframe support $150. So monitor this one this week, but I'm bullish on this. If you're bullish on Rollbit or Unibot and you have to work out whether you are, of course, this video isn't financial advice. You may start to get better looks at DCing into this spot entries, of course. So Unibot's one I'm looking at, actually, if we look at their fee growth and just the overall activity on the platform, their growth has been very, very impressive. And I think some days that they were even hitting 10 ,000 traders, which is absolutely crazy. I think they're cumulatively at like 12 ,000 traders now. So pretty cool, 878 trades over the last day. Executed little downtick, but we did have a massive day last week for Unibot. So the metrics there are super strong. All right, the next one I want to talk about is Sui, because some interesting stuff is happening on the up its side that I want to discuss. Before we get into that, I want to give a shout out to another narrative that I think is actually pretty strong. And this is actually OpenX. So OpenX is one of our official exchange partners on the show, one that I'm quite bullish on. And I don't want you guys to get the wrong idea, like just because they're sponsoring the show is the reason I'm bullish. That actually couldn't be further from the truth. Even before they came on as an official show partner, I was very bullish on their mission. And essentially, that's because it's kind of like your Zhu Shu and Carl Davies redemption arc, right? I mean, obviously, they had a terrible time with 3AC, FTX, Luna, Celsius. But the fact that they've been able to pick themselves up out of that, rebuild this exchange and not only rebuild the exchange, but gain significant traction with billions of dollars of trading volume with quite a unique mechanism. I think that's a testament to what they're building. And I'm pretty excited to see what they can do over the next six months to one year. I think some of the unique features on the exchange are really awesome. For example, this credit model, which allows you to deposit assets as collateral, like pretty illiquid assets, like let's say Pepe or Robit, and actually use that to trade perpetuals using OUSD. I think that's super cool. So OUSD is their credit currency. It's used to settle trades on the platform. It's essentially, it's not technically hard pegged to a dollar, but since a positive and negative trades are settled in OUSD, it should sit around $1 and that's the settlement currency that allows you to deposit other assets, illiquid assets as collateral. And I think it's going to appeal to a fairly degen market because all the degens that want to trade using their degen coins are now going to be able to unlock them rather than having to put up like USDT or Bitcoin as collateral on a traditional exchange. So that's super interesting. I think that appeals to people. And also what I think appeals to people is the fact that they are super on the pulse when it comes to listing your altcoins. Like they listed Unibot, which we just discussed before, like basically as soon as that started gaining traction, they listed Harry Potter coin and these coins that have done huge returns, OX was open exchange was there pretty early. So the OX token is something that I'm looking at, obviously not financial advice. But since I am bullish on the platform, this is something that I'm actively looking at accumulating. I actually did manage to pick some up recently. And the reason why is because you can stake it and earn airdrop rewards from their real world asset, Justin token campaign. So what they're doing essentially similar to like, let's say like your Binance launch pool. You stake their token, you earn a yield on their token, which is generated from trading fees from the platform. And then you also get airdrops over time for their launch pad tokens. For example, at the moment, you've got the justice token rewards. As you can see here as part of the real world asset program. So hopefully that gives a nice source of passive income for me. But yeah, obviously not financial advice and they are a show partner, of course. Link in the description if you want to trade on OpenX. I've had a lot of fun watching their growth over the last few weeks. And yeah, I'll continue to support them because despite what the haters may say, and maybe you're a hater, it's a really good exchange. And I think the only way you're going to realize that is to actually use it and test it out for yourself. Let's get on with the rest of the video and talk about some of the old coins I'm looking at. We will go rapid fire through this, so we'll go quick. SUI. What am I thinking about SUI? It actually swept the lows. This looks like an interesting long potentially. It had some pretty strong up bid volume over the weekend, which could set it up nicely for a rally. If it reclaims, obviously it's going to be affected by broader market conditions. You would need Bitcoin to hold up as well for this to perform well. But this is one I am actively watching. You're getting it at pretty low levels and the up bid volume spike was super interesting, as you can see in front of you. The next one is Say. This is one that I'm not fading. I actually do want to buy some Say. I'm very bullish long term on this whole Say is the trading chain narrative. I feel like a lot of L1s and L2s at the moment are lost for identity. A lot of blockchains have an identity crisis. Whereas has Say this very clear identity of being the optimized Cosmos hub for trading. I think a lot of people, when they do want exposure to the upside of the trading narrative, they're instantly going to think of Say. I think that investor mindshare is a powerful thing long term. I'm bullish long term, but short term, interestingly, the price has been bleeding and it hasn't really had a pump yet. I've just got this feeling at some point it pops. Often with new tokens, we see this as airdrop recipients start to sell off some of their initial holdings. We see a slow bleed. I just feel like at some point it's going to spike to the upside. And for that reason, I may look at buying a little bit of Say this week. Once again, general market conditions are going to factor in to these altcoin trades, but Say is definitely one that I'm watching. I think it's reasonable at the market cap that it is at rank 120, although its FDV is a little bit higher at 1 .4. Bill, Injective, another Cosmos project that's in that same kind of niche, is sitting at 747. Say is roughly double, but Injective is a trading infrastructure play, whereas Say is like your proprietary blockchain. A little bit different, but both interesting plays in the Cosmos ecosystem.
Bankless
A highlight from David's Takes: A Hitchhiker's Guide to Riding an MEV Bot
"If you look at the original Xbox games, the graphics sucked. And then if you looked at the late stage Xbox games, the graphics were like orders of magnitude better, but it was the same hardware. How did that happen? It's because the software got better. And so this is the software of Ethereum layer, improving what we can do with the hardware layer of Ethereum. Hey, Bankless Nation. We've got a new show format for you. This one's short, punchy. It's a deep dive into a crypto rabbit hole that David and myself are exploring. These are our takes. Take them or leave them, 25 minutes max. It's gonna be our punchiest episode ever, right, David? God, it's pretty ambitious to say we're gonna do this in 25 minutes or less. It'd be a first. Each of these episodes will focus on one specific theme. On today's episode, we're talking about an article that David published recently in the Bankless newsletter. It's called A Hitchhiker's Guide to Riding an MEV Bot. David, why'd you write this article? Why is this topic important? Yeah, because every once in a while, we go down, collectively, the crypto world goes down the crypto rabbit hole, which we're all carving out, and then we find something new. We find something while we're digging in the crypto rabbit hole. And what we have found recently is this, what the world of the MEV industry of crypto is calling intents, intents as in I intend to do something. And the idea here is that this brand new fertile field that we've just unlocked could be real big, real big. And the why this is such a big deal and why I wrote a whole entire article about this is that an intent, in theory, inverts the relationship that the average Joe swapper on Ethereum, the average on -chain swapper, has with the MEV vertical. Right now, there's an adversarial relationship with swappers and MEV. MEV wants to eat up the value of all the swappers, and the swappers wants that to not happen. And then with intents, we actually can make these people be on the same team and actually get them to collaborate and cooperate, which is part of the bull case of crypto is learning how to align incentives. And so intents is a mechanism for swapping that aligns incentives between swappers and MEV. That's the big idea. And that is the thing that we have potentially discovered while we are going down the crypto rabbit hole. I completely agree. This rabbit hole goes deep. So we're gonna begin exploring it in today's episode. But first we disclose nothing big or specific in this episode. Both David and I hold Ether. UniswapX is a subject of today's episode. Uniswap has previously been a sponsor on the Bankless podcast. This is my time to remind you that we are long -term investors. We're not journalists. We don't do paid content. There's a link to all Bankless disclosures in the show notes at all times. Before we begin, we also wanna thank the sponsors that made this episode possible, including Kraken, our number one recommended exchange for 2023. Extra thanks to Kraken, our preferred exchange for crypto in 2023. Whether you are dollar cost averaging into crypto to prepare for the bull market or you're taking profits out of crypto, be sure to do it with Kraken. The newly designed Kraken Pro makes it super easy to do both your basic financial transactions while also taking your trading to the next level. Kraken Pro is truly the trading UX that you've always wanted. So if your bull market archetype is the trader class, you need Kraken Pro in your toolkit. But if your character class is more of a DeFi journeyman or woman, then MetaMask Portfolio is the tool for you. MetaMask Portfolio is your DeFi multi -chain battle station. Any asset on any Ethereum layer two, MetaMask Portfolio will present it to you. So don't get caught forgetting assets or missing opportunities. Make sure you're prepared for the bull run by prepping your MetaMask Portfolio. Moving on from tools you need to playing fields to play on, the Arbitrum layer two is one of the main arenas in which this bull market will be fought on. Whether your character class is a DeFi degen, airdrop hunter or healed seeker, the Arbitrum Coliseum is where a ton of the action is going to be. So whether you're on Arbitrum one for DeFi NFTs or Arbitrum Nova for Web3 gaming, or a new frontier on Arbitrum using an Arbitrum orbit chain, there are so many opportunities to sink your teeth into. But as we know, the Ethereum roll -up centric roadmap produces all kinds of layer twos. And Mantle is one of the newest layer twos on the scene with some of the newest technology that Ethereum layer twos has to offer in the year 2023. Mantle is built using the OP stack, but uses Eigenlayers data availability solution instead of the expensive Ethereum layer one, reducing gas fees by 80 % compared to other layer twos. With billions of dollars standing by from Bitdao to invest in Mantle, make sure you stay ahead of the game by building and growing your on -chain footprint on Mantle. Let's not forget about the ETH staking character class and Stater makes it easy. Running a staking pool with Stater just requires four ether for a deposit, letting you charge a fee to the remaining 28 ether that uses your node to stake their ETH, increasing your yield by 35%. Stater's staked ether token ETHX allows you to stake your ether and use it in DeFi at the same time. For all you DeFi swappers out there, this one is for you. Uniswap X has opened up a brand new landscape to play in and it's the world of intents. This is where those who employ the swapping ability get to team up with the evil MEV bot army and they get to band together to discover the most efficient liquidity route through the Ethereum landscape. Gas -free swaps, MEV protection and theoretically optimal pricing. When swappers and MEVers come together, new metas happen and it's thanks to Uniswap X. So the next time you trade on Uniswap, consider clicking the Uniswap X button to get your MEV protection. And so if we're truly entering a bull market phase in crypto, which we totally are, then tokens are going to start flying all over the place. So if you're an organization looking to grow with token incentives, then look no further than Toku. If you want to distribute tokens to your employees, team members or for payroll, Toku can help you comply with labor laws, tax obligations and reporting for whatever country you employ someone. Crypto is entering its regulated era and Toku can help you achieve your token incentive award goals with compliance. So thank you to all the sponsors that support Bankless and all the podcast editors, newsletter writers and operations managers who make the Bankless organization the best that we can be. We truly appreciate your support and for all the listeners out there who listen to the mountains of content that we turn out each week, especially this one right here. So let's go onto the show. A Hitchhiker's Guide to Riding an MEV Bot. Okay, David, what's the big idea here? So I use metaphors when I write. I think it's the best way to explain some of this stuff. And so I start this article with this metaphor of as Ethereum just one gigantic ocean of liquidity. If there's like one activity that we do on Ethereum, it's swapping tokens. Like Ethereum, if you wanna be ultra reductive and kind of make a jab at Ethereum, you'll just call it like one gigantic DEX. Like that is what Ethereum is. It's just an exchange. It's like, it's a marketplace for marketplaces. So it's like a meta DEX. Like you can host many DEXs on Ethereum, but really Ethereum just is a place to swap tokens and assets. If you don't really wanna dumb it down. The term ocean is kind of interesting too because ocean implies some depth, right? You can have more shallow parts of the ocean. You can have deeper parts of the ocean. Yes, there's that. Yeah, and that relates to this term called liquidity, right? And we all know what liquidity is in crypto. It is just how deep market order books are on an exchange or how much assets are in a Uniswap liquidity providing position. There's this like fundamental relationship that like at a very deep level that water and liquidity and assets and markets all have with each other. And it's why we use the words liquidity. That's not a coincidence. It's because people way back when discovered that there's a relationship, a pattern between like actual water and the liquidity of market structures. And so this is why I call Ethereum a reservoir of liquidity. It holds a bunch of liquidity and Uniswap AMMs in like God forbid Ether Delta once upon a time. Zero X and actually the originator of off chain order zero X and now we have Uniswap, right? Curve is another reservoir. So like think of curve as like a very big lake or maybe a curve is an ocean. Uniswap is also another ocean. We got Velodrome which is a smaller little tiny ocean on a layer two. But really with you summate everything, Ethereum is like the earth with all of its oceans put together. And in order to navigate across this landscape of Ethereum, if you view the Ethereum as a landscape which you ought to because like every single contract address or your Ethereum address is a destination. And then you also have tokens inside of your addresses and each of those tokens have addresses, little destinations all across this world. And we need sometimes to do our transacting, we need to go from place A to place B from token contract address A to token contract address B. And this is what the activity of swapping is. You're going, you have USCC in one contract address and you need to turn it into another token or Ether which is at a different contract address. So like we're putting this into metaphors. We actually need to travel across Ethereum's liquidity pools pools of liquidity. And we actually need to do something. We need to make a transaction to get that job done for us. And this is like starting to set the scene for like, what is this big meta structure of Ethereum? But we have these liquidity pools with different assets all over Ethereum. And then we have to go across these pools in order to get our jobs done. And that's kind of where I start off this article with this metaphor. Yeah, and you were using, so if you picture Ethereum as this ocean of liquidity, right? In the rest of this article, this kind of resonated with me, you use this metaphor of ships. And you say this at the beginning, as swappers on Ethereum, we're about to upgrade our ships, moving from gas guzzling clunkers that blast through the swells to sleek yachts. Ooh, yachts. That's stealthily send you where you need to go without disturbing the waters. You've got this image here. And on the one side, it says on -chain DEX trade. And this looks like some sort of, I don't know, standard ship that is going through the ocean. It's a tugboat or something. There's a massive amount of wake.
Bankless
A highlight from DeSci: How Blockchains are Powering Science 3.0 | Zuzalu #7
"Welcome to Bankless, where we explore the frontier of internet money and internet finance. And today, on this episode of our Zuzalu series, we are exploring some new frontiers. New frontiers and new technologies, all of which are poised to completely revolutionize the world and change everything about the operating system that society is currently running on. Bankless Nation, today we are exploring the frontier of DCI, or Decentralized Science. What is DCI? DCI is a really good question because I legitimately had no idea going into Zuzalu. But it became clear that DCI is a great connector of many of the technologies presented here at Zuzalu. DCI is how synthetic biology and longevity have to do with Ethereum. DCI is what is putting Ethereum at the center of these things. The fundamental argument for DCI is that the old ways of doing science is bad. And for the same reasons why the old way of doing money and doing finance is bad, DCI looks at the incumbent system of producing science and sees friction and corruption and antiquation and toxic tradition. DCI wants to use blockchain technology to improve the systems and institutions of science. The mechanisms of how science can use a blockchain is a very big conversation. And the answers are more than a few. But the conversation that you're about to hear with Boris and Mikey will download you on the DCI landscape here. But this isn't just about improving the ways that we do science. This isn't just about, hey, we found a new way to do science better and faster. DCI presents a zero to one step function change in the form factor of scientific progress itself. You know how Uniswap and Aveg and ERC20 tokens are just open APIs of financial tools. DCI wants to do very similar things for its scientific data. What would happen if we made our scientific data as open and as free as a contract call? What if scientific data was as modular and open as the internet itself? But blockchain tech doesn't just provide new solutions for scientific data specifically. DCI is also marked by an emergence of DAOs, all following a decently similar form factor of capital allocation, financing clinical trials in hopes of investing in a breakout new treatment, servicing the long tail of un -serviced patients, which also sounds a lot like banking the unbanked, and a bunch of other similar puzzle pieces that are all trying to go after certain specific use cases in the world of science. So this first episode in this two interview series is with Boris Dyakov and Mikey Fisher, both who are pioneers in the DCI space and helped me have one of the most enjoyable and easy conversations that I had at Zuzalu. And after listening to this conversation, you'll understand exactly what DCI is getting at and whether or not you want to proceed into the second conversation with Alok Taieh, whose project ViBio illustrates a specific example of the overall archetype of DCI DAO that are art there, trying to use blockchain tech to coordinate and accelerate scientific progress. So, Bankless Nation, are you ready to explore the frontier of scientific progress? By the way, at Zuzalu, all of the traditional scientific researchers that were there all realized that the existence of DCI implies the existence of TradSci, which was a meme that stuck pretty damn fast. So all right, let's go and learn about DCI with Boris and Mikey, followed by DCI DAOs with Alok. But first, I want to talk about some of these fantastic sponsors that make the show possible. Extra thanks to Kraken, our preferred exchange for crypto in 2023. Whether you are dollar cost averaging into crypto to prepare for the bull market or you're taking profits out of crypto, be sure to do it with Kraken. The newly designed Kraken Pro makes it super easy to do both your basic financial transactions while also taking your trading to the next level. Kraken Pro is truly the trading UX that you've always wanted. So if your bull market archetype is the trader class, you need Kraken Pro in your toolkit. But if your character class is more of a DeFi journeyman or woman, then MetaMask Portfolio is the tool for you. MetaMask Portfolio is your DeFi multi -chain battle station. Any asset on any Ethereum layer 2, MetaMask Portfolio will present it to you. So don't get caught forgetting assets or missing opportunities. Make sure you're prepared for the bull run by prepping your MetaMask Portfolio. Moving on from tools you need to playing fields to play on, the arbitrum layer 2 is one of the main arenas in which this bull market will be fought on. Whether your character class is a DeFi degen, airdrop hunter, or healed seeker, the arbitrum colosseum is where a ton of the action is going to be. So whether you're on arbitrum 1 for DeFi and NFTs or arbitrum Nova for web 3 gaming or a new frontier on arbitrum using an arbitrum orbit chain, there are so many opportunities to sink your teeth into. But as we know, the Ethereum roll -up centric roadmap produces all kinds of layer 2s. And Mantle is one of the newest layer 2s on the scene with some of the newest technology that Ethereum layer 2s has to offer in the year 2023. Mantle is built using the OP stack, but uses Eigenlayers data availability solution instead of the expensive Ethereum layer 1, reducing gas fees by 80 % compared to other layer 2s. With billions of dollars standing by from Bitdow to invest in Mantle, make sure you stay ahead of the game by building and growing your on -chain footprint on Mantle. Let's not forget about the ETH staking character class, and Stater makes it easy. Running a staking pool with Stater just requires 4 Ether for a deposit, letting you charge a fee to the remaining 28 Ether that uses your node to stake their ETH, increasing your ETH yield by 35%. Stater's staked Ether token ETHX allows you to stake your Ether and use it in DeFi at the same time. For all you DeFi swappers out there, this one is for you. UniswapX has opened up a brand new landscape to play in, and it's the world of intents. This is where those who employ the swapping ability get to team up with the evil MEV Bot Army, and they get to band together to discover the most efficient liquidity route through the Ethereum landscape. Gas -free swaps, MEV protection, and theoretically optimal pricing. When and swappers MEVers come together, new metas happen, and it's thanks to UniswapX. So the next time you trade on Uniswap, consider clicking the UniswapX button to get your MEV protection. And so, if we're truly entering a bull market phase in crypto, which we totally are, then tokens are going to start flying all over the place. So if you're an organization looking to grow with token incentives, then look no further than Toku. If you want to distribute tokens to your employees, team members, or for payroll, Toku can help you comply with labor laws, tax obligations, and reporting for whatever country you employ someone. Crypto is entering its regulated era, and Toku can help you achieve your token incentive award goals with compliance. So thank you to all the sponsors that support Bankless, and all the podcast editors, newsletter writers, and operations managers who make the Bankless organization the best that we can be. We truly appreciate your support, and for all the listeners out there who listen to the mountains of content that we churn out each week, especially this one right here. So let's go on to the show. Bankless Nation, we are here at Zuzalu, and I got two people on the podcast with me today. Right to my right, we got Mikey. What's up, Mikey? How's it going? How's it going? And then further down to my right, we got Boris. What's up, Boris? Hello, David. Pleasure to be here. So I've heard the name DeSci a number of times. It had some exposure at East Denver. I've seen it on Twitter, but I haven't really figured it out. But DeSci seems to be the thing that really is pinning a lot of these various conversations at Zuzalu together. That's why the synthetic biology people are talking to the crypto people, right? That's why the longevity people are talking to the crypto people. That's kind of my basal level understanding. But beyond that, I don't know what DeSci really is or how to explain this movement to the Bankless Nation. So I'm hoping you guys can help us guide all of the listeners down that rabbit hole. You guys want to do that? Very excited, too. Yeah, happy to. But first, a little bit more about you guys. Mikey, tell us a little bit about yourself and your background. Yeah. So I just finished my PhD. I was at Stanford. Congrats. I was studying computer science and natural language processing.
Crypto Banter
A highlight from Best Altcoin Trades For THIS WEEK! (SHIB, RLB, DOGE, UNIBOT & More)
"This might be the most alpha -packed crypto video that you watch all week, because today, I'm going to be running through my exact trades for the week by giving you my altcoin watchlist. Now, in this video, I'm going to be showing you what I'm currently buying, what I am longing, and also what I am shorting this week in a market which may seem boring to the naked eye with Bitcoin not moving, but underneath the surface, there is a lot of news and a lot of stuff happening with altcoins that I want to break down. I'm going to go through each individual altcoin step by step in today's show and give you my guide, my thoughts on that alt, my trading plan for that alt, and if you guys do enjoy this video, click the thumbs up because I will make this a regular video if you guys respond well to it every single Monday as an outlook for the week and my take on the altcoin market. So in front of you, you can see a little sneak peek as to some of the altcoins that I will be mentioning in today's video, but I also want to deep dive into each one and tell you what I'm doing in my longing, and my shorting, and what is the plan. There are also some smaller caps which I'm not showing you on the screen right now which we are going to get into in today's video. So let's stop talking. Let's just kick it off. Let's go quick. Let's get straight to the alpha and by the end of this video, you should have lots of trade ideas to get the wheels in your mind turning and obviously the ones that you agree with. Maybe you can look to make your own positions based on some of the logic I share and the ones you disagree with. Well, that's okay too. It's my job to give you my opinion and it's your job to do your own research as well. So let's continue with this video. The first altcoin that I want to talk about is SHIB. This is a huge week for SHIB with their highly anticipated SHIBarium Layer 2 launch finally coming. Now, what I'm starting to see is a lot of people jump the gun and starting to short SHIB. Now, although that short so far has played out, I wouldn't get too caught up in shorting aggressively considering there could be a squeeze into the news or the launch of the SHIBarium L2. My bias does lean to be fully transparent with shorting SHIB but only if we get a squeeze to the upside. Otherwise, I just don't think it's high risk reward. So firstly, what is SHIBarium? It's essentially going to be a Layer 2 solution for SHIB to become more decentralized and I guess offer utility to a token that in the past didn't have much utility beyond just being a meme. What I anticipate happens when this launches is there is a lot of LPs on chain that are paying crazy APRs and I expect a lot of people to farm and degen and go crazy on chain. That could lead to a bit of short -term demand for SHIB but as we know by the rumor cell, the news is also prominent in crypto. So if we do get a continued push to the upside, then hopefully, I get another chance to short at this 11 .35 level at the previous high if we get rejected there. If not, I think it's a bit of a late short now heading into this 200 MA on the hourly. Looks like to be a little bit of short -term support if it does get there. So a bit of a late short now but if we do get that squeeze which I think we definitely can get, then I will look at shorting SHIB. Onto the next one, HBAR. HBAR has absolutely pumped into the news that the Federal Reserve is going to be adding an HBAR -enabled platform to their list of service providers. FedNow has now added HBAR to its service provider showcase.
CoinDesk Podcast Network
A highlight from GEN C: Understanding Web3 Talent and Opportunities With Lesley Silverman of UTA
"The new In Gen C. The C stands for crypto, but it also stands for creators, the connected consumer and collectibles, both digital and physical with on chain provenance. It stands for culture and characters, the ones we play in games and the companion ones that AI is building alongside us. It stands for community and digital citizenship and the new set of transparent and trustless tools being built to govern them. These are the people who were raised on a different philosophy on how they look at money, how they look at identity, how they look at privacy and how they look at the hybrid, digital and physical spaces being built all around us. And finally, how they reimagine their relationships with the communities and companies they interact with. We focus on how brands, large and small, are building for these audiences. Welcome to Gen C. Avery, we are back. Episode something. I don't even know what number we're at. I think 39. A lot of episodes. A lot of episodes. I'm very excited for this one for a couple of reasons. The first is we have Leslie Silverman, who's the head of Web3 from United Talent Agency joining us a little later. Leslie is someone I started to talk with probably two years ago about this stuff. Always has a lot of opinions, represents a lot of the big artists in the space and is someone I think really brings a lot of sort of intuition and knowledge. Would love to like learn more about her career. So I'm really excited to have her on. Me too. I heard she was a lawyer. She was a lawyer. I wish I went to law school now that I think about it. But still time. Still time. You could reverse age. Go back. Maybe just buy an NFT of a legal degree. Right. There's a lot of interesting stuff happening. I want to start, Avery, with saying are you prepared for Hot Chain Summer? And what I mean by that is today when we're recording this is the beginning of Coinbase's OnChain Summer, which is like a month long festival celebrating on chain activities. They're doing a ton of stuff around getting people's attention and they've also partnered with like Coca -Cola, Atari, Zora, Manifold, a bunch of the both like traditional Web2 brands as well as a lot of the great Web3 brands in creating a sort of month long experience for people to mint things, get things, meet people, follow artists. And I just want to understand your thoughts on what Coinbase is doing around OnChain Summer. One, I think it's fun. I think they're trying to make on chain happen to be determined if on chain is going to enter the sort of normie vocabulary. I like it. I think it's interesting on the blockchain, on chain, I think creates also an avenue for communication that lives outside crypto, which I think is smart for a company like Coinbase knowing how polarizing crypto is right now to sort of mainstream American investors and just in the financial services sector broadly. We did not work on that campaign. We do partner with Coinbase, but not on this. So I can't tell you any of the in depth approach or their strategy, but I think if I were Coinbase, I would be trying to lean into communication and brand building that lives a little bit outside of crypto, degens, trading audience and appeals to more broad based folks who might have a little money to spend, might have a little money to invest, and they want to enjoy their summer. And they like block parties and artists and soda and all the fun things. And I also think summer is the right season. Summer is about positivity. It's about getting together. It's about outside and groups and music and concerts. And I think it positions just tonality wise well. I like the colors. Our direction is very vibrant and fun. And let's see if they can make on chain happen. They're also the first public company to release a decentralized blockchain. Exactly. That has been a hot topic, though, as you know, I think that there's a little bit of a back and forth with the base and the optimism. And I think there's two sides to every story, right? Yeah. Well, and I think that combined with like PayPal releasing announcement of creating a stable coin actually just challenges the U .S. to sort of like step up to the plate and make a decision. To me, that is big news. Yeah. And I think that's beyond a campaign. That's beyond a marketing effort. That is a big move by PayPal. And many people don't know, but PayPal, you know, has been very crypto friendly. So has Venmo. And Venmo is, of course, owned by PayPal. And this is in the app. This is existed for years, I believe, as a method of sort of storing, saving those little increments of crypto. And I actually think PayPal kind of has an interesting moment right now. They're a bit underpenetrated from a crypto adoption perspective from that kind of low to mid end user who might have gotten burned with some of the highly decentralized, highly volatile, a little bit more risky assets over the past two years. Now it's got a little bit of crypto and might not trust themselves with, you know, to be fully self -sovereign. I think they've got an interesting place to play and to leverage the trust and scale that they have with to consumers kind of onboard some of that audience. But I haven't seen like a big marketing push around it. And I know they've been thinking about it and exploring. But with this announcement, I think that this is actually quite a BFD. 100 percent. And I think when you have big brands who are mainstream, like PayPal, like Coca -Cola, like Atari, like Coinbase, who are really kind of challenging the system, it may be one of those moments we look back on and say this incrementally brought us forward to something. And I do think that everyone in the crypto space would love to know that the government of the USA, in addition to the other major Euro governments and Asian governments, have a point of view. So just so you know how to work within those constraints, that's, I think, been one of things that's really hindered adoption is that no one knows if they're actually potentially going to be breaking the law. I think that's 100 percent right. Yeah. These kinds of things, I think, get us to something that at least makes people have to go on record and figure out whether they're comfortable with. I also think it's coming at an interesting time, right? It's coming at a time when a lot of Americans are reading very mixed reviews on crypto and blockchain. And the fact that PayPal is releasing this now, I think actually ultimately underscores their conviction in the future of blockchain and the future of crypto. I don't know, I'm sure that went through many hoops and hurdles to choose to launch this in August of 2023. But I think it really demonstrates their commitment to the space, actually. Absolutely. Another story we reported today, which is interesting because we were talking to Leslie later, who represents the artist Grimes, but we reported today that Grimes claims to have made more money from NFTs than she ever made from music, which I thought was a really interesting statement. Now, for anyone who doesn't know, Grimes did release some very sort of highly sought after NFTs during key NFT timing of 21, 22. I believe one of them went for $400 ,000, which was a unique artwork that was a one of one. So she's done pretty well in the NFT space. She's always been a big supporter of blockchain and crypto, but it actually really exposed, I think, how hard it is to make money as a traditional artist in the streaming world that she was able to make more because I think a lot of people know Grimes, whether it's through her relationship with Elon or just as a avant garde artist. But I think you and I have spoken so many times about the idea that music and blockchain still isn't really there. And the one thing that I took away from this was that Grimes is sort of still reinforcing that because where she made most of her money was still with herself as an artist, not as how many people bought a single or bought a song.
Crypto Banter
A highlight from You're 'Running Out Of Time' To Stack These 5 Altcoins | with Jos (Delphi Digital)
"Yo, what's up, everyone? I have Jose from Delphi back here on the show. If you watch part one, you guys would know today we are going to be discussing more of the degen Altcoin stuff going into interesting topics like, you know, roll bit, gamble fight, trading bots, uni bot, all that sort of stuff as well as some of Jose's topics. So welcome back, although it's only been one minute in the real world and let's kick it off. So thesis first I wanted to get your opinion on was this tweet that you did. You said over a long enough timeline, all centralized exchanges will fade into irrelevance and become glorified on the slash off ramps. Pretty strong words, actually. You said the vast majority of trading activity will happen on DEXs, overzealous regulators will just accelerate this transition. Do you want to elaborate a bit on that tweet? Yeah, like I, yeah, I think the future is, at the very least, like non -custodial exchanges. So where you like similar to do IDX or Vertex, where you might have an off -chain order book, but the trading is non -custodial. It's just kind of like, I think, inevitable. It'll take a while for both the tech to get there and then the trust in the tech to get there, right? But yeah, I think it's inevitable because it's like a better system. Like you don't need to give, there's no reason why an exchange should have custody over your assets in order to allow you to trade there, right? Like if you can trade according to rules defined in smart contracts, then like there's really no need to give up custody of your assets. So that applies to like derivatives and spot. So I think, and then also from a regulatory perspective, I just think that regulators are gonna be kind of going after centralized exchange. Centralized exchanges are like one of the easiest places for regulators to go after, right? They have a lot of money. And as we've seen with Binance and then Bitrex and these kinds of enforcement letters, like I just think it's gonna be like the biggest targets that the regulators go after. And in doing so, they end up pushing people more and more towards like decentralized exchanges. And then I think you're gonna have on and off ramps and like crypto native neo banks, right? That serve as the connection point between fiat and the crypto world where you can go on and off. But then in terms of like your trading venues and stuff, I think the most successful ones will be decentralized in future. And I think prices probably will. You mentioned decentralized, sorry, you mentioned centralized regulation. Do you worry about DeFi regulation as well? I know it's hard to regulate, but like, yeah, is there some sort of future where things are just like flat out IP band, I guess, in like multiple jurisdictions for DeFi? Yeah, I think DeFi is much harder, like properly built DeFi is much harder to regulate in that way, right? Like if you build, and it depends exactly how things are built, but like, I think if I built the right way, there is no one you can subpoena to shut it down, right? Like there's not like a Binance you can go after and say, hey, you've been serving like Hamas or whoever they were, whoever they were laundering money for. You guys need to stop doing that immediately. And it's like, well, if it's a smart contract and you've handed over the keys to governance, then it's like, if you want me to stop, you have to make a governance proposal. Like the SEC would have to propose to the Dow that they stopped doing whatever they want to do. It's really the only way. That's pretty funny to think about. Gary gets all like clicking except on his menopause. Yeah, exactly. I mean, that's the end game of well -designed DeFi, I think. So I think that the kind of weak link there still is like the front end and to some extent, like the backend, but I think there are solutions coming up for that too. Like Arbit is super interesting, but I think even absent Arbit, like stuff like Liquidy just makes it like, so Liquidy's model for those who aren't familiar, it provides like a fee at the smart contract level to front end operators, right? So you can stand up a front end and you get paid per, I think in their case, it's part of the interest for standing up a front end and serving users. And I think every exchange or decentralized exchange will eventually like adopt a similar model where, and you can also like open source your front end, right? And dockerize it and make it very easy for anyone to deploy. And at that point, it becomes like as hard to stop as Tor. You have these smart contracts running permissionlessly on the blockchain. And then you have a bunch of people all around the world running front ends for it and like a free market, basically of people being paid fees to do that. And so I think like, yeah, properly built DeFi is both very hard to regulate practically and also doesn't fit into regulatory like definitions and like, and this, yeah, like the kind of principles that regulations exist for.
CoinDesk Podcast Network
A highlight from THE HASH: SEC to Challenge XRP Ruling in Case Against Ripple; FTX Claps Back at Creditors
"Hey there. Welcome to Coindesk TV. Welcome to The Hash. It's the best show on Coindesk TV in my humble opinion. I'm Zach Seward. We're joined by Jen Senassi, Will Foxley. They both agree. Best show. Good stuff. That's a fighting word, Zach. What are you talking about? What are you talking about? Is that a compliment or a diss for me? It's a compliment. All of them. We're this, all of us together. We bring so much. You know, Jen, you have multiple shows. I'm not throwing shade at the other show, but this show. Sorry, Lawrence. This is what it's really all about. I have to agree. There you go. Love that. All right. It's pretty good. Enough hemming and hawing. My bad, folks. Let's get to the stories of the day. Will, lead us off. What's up? Okay. Let's go to FTX land and talk about bigger problems. This is a tough one. Creditors and debtors are fighting it out after a draft reorganization plan was filed by John J. Ray III, the new CEO of FTX and the FTX estate. Of course, they're going through this chapter 11 process, which is going to be drawn out for quite some time. They've been at it for well over six months at this point, and they've been racking up a lot of fees. The creditors here are not super happy with the handling of a lot of different aspects of the estate. For one point, they even issued that, Hey, why is the treasury not being put into UST bills so we can earn a yield on top of all the money that is waiting to be distributed to FTX creditors? The estate has some thoughts about that. There's some back and forth here. At the end of the day, I think it's just two groups arguing over a vast sum of money that is owed from one party to another. This is a story as old as time itself, right? Like chapter 11 back and forth. Jen, I got to throw it to you. What's your take on this one? I'm imagining when I read the story, I imagined FTX's new management, like in suits, you know, all the lawyers that are making all that money that we spoke about way back when trying to talk to like a bunch of degents who won't turn their zoom cameras on and just getting absolutely frustrated. There are some real great nuggets in here if you read the footnotes and the whole thing, but I think it makes sense. Like FTX's management needs to be conservative. They need to look at this whole thing holistically. I think this is one group, it's the group of unsecured creditors who are saying, no, you need to do X, Y, and Z. I think they were suggesting putting some of the money into long -term crypto holdings. They're talking about US treasury bonds. And, you know, I think that's a little bit risky when you're looking at getting as much money as possible back to all of the people who are owed money in this. There's a lot to dive into here, but Zach, I want to get you in first before we dive down that rabbit hole. I do like the part where it's just like, we're going to put it all on red and we are going to weight it back in one spin, baby, let's do this thing. Yeah, yeah, yeah. It's like that meme. It's like that, I don't know, I forget which movie it is, but the Las Vegas meme where everyone's like gathered around the craps table, like various disfigured injuries, and you often see various sort of crypto figureheads placed into that meme. And you can imagine the degens on the creditors side being like, yes, we can do it this way. But really, it's just a tug of war between two parties seeking to establish power over these proceedings, right? I think this is very much in response. This is kind of John J. Ray kind of clapping back and saying, hey, creditors like pipe down. I know you said this thing where you want control over who's making these decisions. I think that was the previous week that the creditors committee came out and cast a little shade on how the estate is handling things. And hey, J. J. Ray the third is going to clap back. If we know anything, this man does not mess around. We've seen this guy come out firing time and time again. He's ready to roll sleeves and put the fisticuffs up on this one. So interesting to see, again, the war of where it's escalating between these parties who see different priorities and how this should be handled. And this is some tension sort of spilling out into the public sphere. Will, what do you think? Three bits and pieces here. Maybe it's context. Maybe it's just kind of fun facts. I just want to bring up one. There's this debate over should FTX reboot FTX 2 .0. As it were, John J. Ray the third and the FTX estate has hinted at it and maybe even like suggested that they might move forward with it. Certainly a lot of creditors and debtors who want this to occur because they think this is possibly the only way for them to see more of their money, typically in chapter 11, and we see like maybe like 11 cents on the dollar get paid out. Eventually, I mean, Gox Celsius, there's so many different stories in the past where we haven't really seen the money go back completely. Another few thoughts on this is one, the debtors have issued in this note, a complaint that they have not met with the estate at all. And it seems to be some frustration there because the FTX estate is spending so much, like millions of dollars, like the hourly cost for these things is incredible. Yet they're unwilling to meet with the debtors in this situation, which strikes me as a little bit odd, but maybe they just don't want to deal with it. And I suppose if I was in their situation, making a lot of money, I wouldn't answer the phone either. I don't know. Jen, I have to add this to Tidbit and they are, I guess, looking for solutions if we want to get the unsecured creditors some points here. They the reason that they were suggesting that FTX look into short term treasuries was to help offset that 330 million dollar legal fee bill that we spoke about on the show, I think it was months ago now. So they are coming with solutions. You got to give them some credit there. Zach, I'm going to hand it off to you for last words. This story will never die. This is the story that will never die. Maybe we can talk about it 10 years from now, if we're lucky. Oh, wow. It's kind of like all the other FTX stories too, right? Whether it's like got new information about Allison or Sam or whatever, it's like two different tracks for the same story. Yeah, you got to have, you know, like the, you got the A storyline and the B storyline. You got the suits sparring over various procedural updates. And then you, you got the juice over here. You got the, you got the Machiavellian and you got the personal drama, you got all sorts of stuff, all sorts of stuff. Maybe, maybe when Netflix finally makes the documentary, they'll use a clip from the hash. That is my dream. We have been in a book about this. Yes. Shout out to Brady Dale. Now Avaxios, go get that book. All right. That's it. We're going to change gears. We are going to go to an update on the Ripple case. Now, last month there was a big judgment from a federal judge saying that certain sales of XRP satisfied securities transactions. Others did not. And now the SEC is appealing or is asking for permission to appeal that judgment a in major case that has been closely watched in the crypto world. When this judgment was first issued by federal judge Annalisa Torres, who was seen as a partial victory for Ripple and a partial victory for the industry writ large. So clearly, the SEC is advancing its case that maybe those programmatic sales also qualify as securities transactions and they're asking for a certain type of appeal on the matter. Jen, I'm going to throw it to you. Everyone was super duper bullish about this decision from Judge Torres, and now they may have to take it back to appeal. How does that sort of change our understanding of what happened here? This is another story that just will keep going on, I think, until the end of time. It feels like we've been following the Ripple case. It did feel like there was like a moment where this entire industry took a breath and thought, wow, this this is a small win for us. It's a small win. It gives us a little bit of clarity, a little bit of direction. We, of course, have seen since then Coinbase has referenced this partial win in some of their filings against the SEC. And now I just feel down in the dumps again. Of course, there's still a trial pending here. And now we have the SEC filing this appeal, which I think everyone expected. The SEC said that they were going to file the appeal. The part that I'm going to watch and that I think is kind of interesting is Judge Torres said Ripple did not break the law when the XRP token was sold on public exchanges because purchasers had no reasonable expectation of profit based on Ripple's efforts. I just wonder if we're going to see Ripple's efforts come to light here compared to the price of the XRP token. Ripple has made a lot of announcements about acquisitions, new projects, new products, and if that is going to be some swaying information in this case, because I think that it's not a far cry to draw a parallel between Ripple's new project and the price of the XRP token, even though Ripple has definitely distanced themselves from that narrative. Will, what do you think? Yeah, classic Ripple. It's not our token. We just found it out there. I don't know. It was in the wild somehow. Going back to like the lawsuit here in the case between SEC and Ripple Labs, the programmatic selling part that Zach brought up, this is the thing that confused a lot of people, and there was definitely a lot of lawyer opinions on this, including some op -eds I've written on Coindesk, so definitely go check those out for an expert's opinion. From a layman's opinion, just looking at this, it seemed a little odd that you could have this broken up into two different tranches, right, where we could sell to VCs, we could sell to banks, we could sell to institutions, and that's not okay. But if we sell it onto an exchange where there's just retail clients and they're not really having an investment contract, they're just purchasing, I guess, like a commodity in this case or something like that, then it's okay. And it just didn't make sense to a lot of people when they first saw this. I only saw a few lawyers who were looking at that and were like, oh, yeah, that checks out. I think it also, if it stands, sort of cuts at the heart of how a lot of crypto lab companies or foundations do their sales of assets when they create them, or quote unquote assets. Oftentimes we see private rounds where initially there's like a premium uncreated, and then they divvy up that pre -mine to investors, to insiders, to the foundation, to the early team, and then they do a huge sale to the retail, either through like an airdrop or listing an exchange elsewhere later on. So let's take a world coin, for example, they did this, right, where they gave some to early investors, they gave some to the team, and then they gave a ton to market makers to be able to keep the price of the token pretty steady. And under this ruling from this judge, a lot of that would be broken, right? Like, would you be able to give a token to market makers to even loan it out so you could have a price? I don't know if you can do that anymore under this. It seems like you could only really sell it to retail. That seems odd to me, it seems like it's going to change. And I don't think it's a surprise to anyone to see the SEC go against this, or at least try to challenge it. The outcomes from it could have huge repercussions for how everyone is looking at the token market. Zach? Yeah, my understanding is that a lot of these sales sort of date back before established best practices were set up right for a lot of these token distributions, right. So this is this is from an era in which a lot of the regulatory kosher practices were being embraced. So I think a lot of this space has evolved. And I think there is a question as to whether or not this will impact sort of the current understanding of how tokens get distributed to early investors. I think the SEC had to appeal this one because, Will, as you mentioned, it really undercuts Gary Gensler's argument that almost everything except for Bitcoin basically is a digital asset security. Now, I mean, I think my understanding of the ruling was that it's not really the securities, it's not really the assets themselves, it's which type of transactions they're involved in. And that was sort of the fine line that Judge Torres was trying to distinguish here, right? You know, similarly to how in the Howey test, it stemmed over an orange grove in Florida, right? The oranges themselves aren't necessarily securities, but if they are involved in a securities transaction, then they meet certain requirements in terms of disclosure and other things that need to happen, right? So the understanding, at least on the industry side, was, hey, the assets are just like the oranges. They aren't inherently securities, but if they're in a securities transaction, then certain rules will apply. And that's what Judge Torres was trying to articulate, whereas Gary Gensler has been trying to say, these things are securities, they look like a security, they walk like a security, they quack like a duck, I don't know what I'm saying anymore. But he was saying that that is always the case with these things, that they are by nature of their existence are our securities. Whereas the judge is saying, no, no, we need to look at the specifics of the transactions in which they're involved. So a lot of people, I think, within the industry specifically saw that as a pretty reasonable explanation of how it can be both at the same time, a security and not a security. And now I think the SEC is at least taking another shot at advancing their case here, such that other claims relating to other assets can be supported. But yeah, I mean, this is I think, I think a lot of lawyers, this was definitely the thing where a lot of lawyers on crypto Twitter were sort of placing their bets in terms of what would happen. Some were more cautious that an appeal would would occur. Others were indicating that there would likely not be an appeal here. Now we see with this particular type of appeal that the SEC is going to have this one looked at again, under video review, but who knows? There's a new social marketplace on the block and it's called Calixi. The platform hopes to empower content creators to build personal economies and interact directly with their fans. Joining us now to discuss is Calixi CEO and co -founder Solos Sisay and co -founder and NBA star Spencer Dinwiddie. Good afternoon to you both or good morning. I don't know where everyone is. Good morning. Good afternoon. Good evening. Good morning. All right. Let's let's talk about the launch of this. It's been in beta for a while. It's now officially launched on yesterday's show. We spoke about Grimes coming out in the media and saying she actually made more money from her NFTs than her music career. Talk to us about the experience that creators can have on the app. As we look at monetization of the individual holistically, I think you're going to get some of those familiar features that you see from like in OnlyFans, et cetera. People being able to message, video chat, and then Calixi isn't very unique in the fact that they can create individual experiences. Like I have like a jump shot tutorial, things of that nature. But yes, it's all about monetization of oneself. Also, you can post your NFTs, et cetera. We have Web3WAD in there running on Hedera. But yeah, I mean, it's about monetization. So let me ask this one to you. This has been a long time coming for you guys, right? This project, I think you've been working on it for three years. Talk to me about what it means to get this fully launched today and what you learned over that process of cobbling this thing together over those three years.
CoinDesk Podcast Network
A highlight from THE HASH: Fake PayPal USD Tokens Pop Up; Binance Receives License to Offer Crypto Services in El Salvador
"This is the hash podcast. Stay informed with the latest on Bitcoin, ETH, the metaverse, web3, and more. All on the hash for your ears. You're listening to the Coindesk podcast network. Hey there, it's the hash. It's Coindesk TV. I'm Zach Seward. We got Jensen Asse. We got Will Foxley. We got Wendy Oh. We got news to get to, folks. It's Socko Tuesday. Let's talk about some stuff. I'm going to toss it to Wendy. She has the first story of the day. What's up? I also just sighed within the first 1 minute and 20 seconds of going live. So you guys, we have to talk about this because it just keeps happening and you guys just keep doing it. Fake PayPal USD tokens pop up on several blockchains. Remember, you can build different types of tokens on many different blockchains, including Bitcoin. But please be cautious because there's a lot of fakes out there. So apparently there was around 70 fake versions of PYUSD that have launched on various networks, including Ethereum, BNB, Chain, and Base, which I believe that is Coinbase's native blockchain. And apparently the largest fake token minted on Ethereum has seen around $2 .6 million in trading volume since its launch just minutes after PayPal announced the PYUSD launch. It pumped over 30 ,000 % in the first 8 hours and it has now dumped more than 60 % of its all -time high. Math is very hard. And I just want to let you guys know, to all the degens that are aping into this stuff, that are trying to make it all back in one trade, I salute you. But for the rest of us, can we just stop getting hurt, guys? Can we just stop aping into this stuff because we're just going to get wrecked? Okay. Will, you are shaking your head. I'm going to toss it to you, but I should have tossed it to Jen because she looks nicer than you today. But we'll give it to Will. Will's wearing a white shirt on a white background, like an amateur. Yeah. What is this? I mean, I wore black last time. I don't know. I'm going to switch it up. No, I didn't get wrecked by this. And I don't think... Did you get wrecked by this one day? Hopefully you didn't purchase anything. This is like a pretty typical... Good. Okay. You scared me for a second there. If you don't do anything, you can't get wrecked. You're just slowly getting wrecked by a fiat. So just keep playing back against 2 % or whatever, and you're fine. But if you can go buy a fake token on Uniswap, fake PayPal dollar, it doesn't really exist, well, I think you have only yourself to blame. This is something that happens every time we have a huge token launch, when a big name comes in a space, there's always some sort of token. The Ethereum community has a lot of fun with this sometimes, where there's like pizza tokens or dog tokens launch. Those are always great, right? And it's kind of an expectation you're going to get rugged, or maybe you'll make some money. But when it comes to these sort of things, I think it's slightly more nefarious than the fact that they're taking advantage of people who think that there's like a legitimate project here and they want to buy into it, and they just buy the wrong ticker. And then all of a sudden, all your money is gone. So pay attention when you're buying things, like this happens in the traditional finance as well, right? Like there's a new stock coming out to exchange and tickers look very similar, there's penny stocks out there and just make the wrong purchase. It's obviously a little bit more nefarious here because you're able to list your own token. Anyone can create something that's permissionless on Ethereum or one of these other blockchains. So a little bit different, but I think it's quite similar and just read the screen wrong, made a poor decision. Zach? Scammers going to scam, opportunists going to opportune. But yeah, that's a feature and a bug of permissionless systems, right? These are systems that don't require permission for you to build stuff. And that's a great thing. That's a great feature of the decentralized world in which crypto exists, right? But the flip side of that coin is that this happens. You get people who are sticking a name onto a token, sort of misrepresenting what that actually is and seeking to gain profit from less than sophisticated traders. So this is something that you're always going to see, right? You see this when, I think Will, you're right to mention, right? When there's funny things that happen and all of a sudden there's these meme coins out there. The flip side of it is that you see these more bad intentioned projects also get launched, seeking to take money from unsuspecting investors. Overall, I would say the benefits of permissionlessness outweigh the negatives, outweigh the downsides, right? This is an open system that anyone can participate in and is sort of a core tenant of why decentralized technologies are more inclusive and potentially more impactful than what we see in the current financial system. But of course it comes with this as well. And a lot of the due diligence falls on individual investors who need to be able to make that decision around what's what. So that becomes a challenge and we see it time and time again. Jen, what do you think? I think we all could have predicted this. It's been a day, I think, since the news announced we have more than 66 fake tokens out there. It happened when Twitter became X. It happens all the time when we have big news. People spin up these tokens. It takes less than 10 minutes to spin these up and they get out there scamming and rugging people. I think it's important to note that PayPal's USD, their stable coin, is only available to people in the US right now. And to get it, you have to have a PayPal account. You need to go in there, create an account, and then you can either convert your balance or buy PYUSD. I don't know why that's so difficult for me to say today, PYUSD, by converting what's already in there or adding more money to your wallet. So that's how you get it. OK, so don't get out there and get scammed. That's it. That's my public service announcement to everyone who's watching. Don't get wrecked out there. Well, I also think, too, this is I mean, I'm going to get some blowback for this, but I also think, too, this is a good kind of litmus test to see people use their critical thinking skills because the only people that are buying these PYUSD tokens are going to be crypto people. It's not going to be like the normies. They're not going to know. They're going to know to actually get this from PayPal. Like I don't think that they would be well versed enough to go to Uniswap or to go to whatever decentralized exchange we have and to get it. So I feel like this is all mostly degens. And then I just hope no normies are getting wrecked out. Nobody's getting wrecked. But come on, guys. What should they have named the ticker? What's your what's your fabled ticker number or name you'd give right now? But this is like to me when I read it to me, it's like PYUSD. I don't necessarily like it. Like it sounds. Go ahead. Yeah, I think we just call it PYUSD. Like PY. That's what it is. I love a good pie. What's your favorite pie? Will. Will, what's your favorite pie? I'm putting you on the spot. I'm gluten free. So I don't eat pie. Sorry. Oh, dang it. I knew that.
Crypto Banter
A highlight from Bitcoin To PUMP While Global Markets Collapse VERY SOON!
"All right, we're still in the 29 ,000 range on Bitcoin, but if there ever was going to be a move on Bitcoin, it's going to happen this week. Okay. So if there was going to be a move on Bitcoin, it's going to happen this week. Now we're going to get a guest on the show a bit later, and he says that if the move comes, the move is going to be catastrophic for markets. Markets are going to collapse, but he actually says that that is where Bitcoin is going to shine. So we're going to spend some time talking about that. And the reason why I say that if there is a move that is coming and it's coming this week is because it's actually quite a big week for crypto this week. So first of all, you've got Coinbase launching their base protocol this week. Now, most people think, well, why do we care about that? That's just a layer two on Ethereum without a token, which is being launched by Coinbase as degens. We can't even trade that. But I'm going to show you that that could be one of the biggest trading events of the year. Also what we heard today just before the show, and that's that's actually why we were a little bit late, is PayPal is launching a stablecoin. So we've been anticipating PayPal launching a stablecoin for some time, and that is huge news. I mean, a lot of people discount how important it is that PayPal is actually launching a stablecoin. So we're going to spend some time talking about the stablecoin that PayPal is launching. And then lastly, we've got Justin Sun potentially crashing the crypto markets this week. So quite a big week with a lot of a lot of different variables that could move the market up or down. And on the show, what we're going to discuss is whether the market is going to be moving up or down this week. We definitely, definitely, definitely going to get volatility this week that I'm willing to put my hat on that. Now, if you are like me and you are completely, completely frustrated by this lack of price movement on Bitcoin and you are almost thinking we've been in this twenty nine thousand to the lack of movement, there is actually a trade you can make if you believe that the market is going to move. So the trade is a very simple trade. There is a crypto volatility index. And what you can see is you can see that the crypto volatility is the lowest that it's been since as far back as this actually goes. In fact, just quickly click on the all time button here. So the crypto volatility is now much lower than it has ever been. What most people don't realize is that this crypto volatility index is actually a token. You can buy this token on SushiSwap. Now, if you think that the volatility is going to go up, well, then what you do is you just buy this token, you'd pay thirty seven dot sixty six, thirty seven dollars and sixty six cents. And then as soon as the volatility goes up, the token will go up. But that comes with a major, major, major, major, major warning. So before you go in and degen on this crypto volatility index, before you go in and gamble on this crypto volatility index, wait, because I have to show you what the warning is around the crypto volatility index. And it's a very, very, very, very, very crazy warning. So just listen out for that. All right. So that is what we're going to be talking about today. We're also going to be talking about altcoins.
Crypto Banter
A highlight from Coinbase's BASE Will DOMINATE Crypto (How To Prepare For Launch In 3 Days!)
"The official launch of Coinbase's new layer 2 base is in just three days time on August 9th. In today's video, I'm going to explain everything you need to know about base, as well as how to prepare early for the launch of what could be one of the biggest chains in crypto. And some of the metrics I'm going to show you later on in this video are absolutely mind -blowing about the potential of base and Coinbase as a company. But without further ado, let's get straight into things and explain what base actually is. Well, essentially, base is a new layer 2 protocol coming to help Ethereum scale. Base is incubated within Coinbase and plans to progressively decentralize in the years ahead. They believe that decentralization is critical to creating an open global crypto economy, although we do know that it is going to be quite centralized on launch similar to what the BSC chain is to BNB. Basically, base is going to be to Coinbase, so there'll be lots of native integrations for users of the Coinbase platform to be able to use certain dApps on chain, which is, I guess, one of the biggest value props of the base chain. It's having that big back of being Coinbase and having the ability to inflow new users onto the new chain via a very strong existing product, which is obviously the Coinbase exchange. So similar to other L2s, it plans to help scale Ethereum and it does leverage the Optimism stack to build out its technology. So they are leveraging Optimism's developer kits similar to the Cosmos SDK in order to power base. By all reports, the Optimism developer kit is a very nice stack to develop on. And I did do a video two days ago about Optimism and how I think it can benefit that. But today, we're just focusing on Coinbase specifically. So in front of you, you kind of get the gist of what is happening at the moment. It's a big trend in crypto. Binance users can use the BNB chain. Coinbase users can use the base L2. Bybit users can use their mantle L2. Metamask users will soon be able to use the linear L2. And we're seeing progressively over time, launching a chain for a centralized company become a strategy to accrue more fees because of the amount of fees that can be introduced on chain via gas. The ability for them to monetize gas on chain becomes a lot more effective than actually monetizing off -chain via their base layer or their base application like Coinbase or Binance. So we are seeing a bit of a trend. I mean, this guy's calling it the weaponizing of the centralized finance user base. I wouldn't call it weaponizing, but I would call it strategic monetization with these companies realizing, well, we can actually make more money via having a chain. We can actually grow quicker via having a chain. And although the chain doesn't directly operate alongside their centralized counterpart, having them separated also gives them a distinct advantage as well. So it is very smart from a company perspective to actually launch a change here. And we are seeing a lot of these big exchanges follow this model for very good reason because it's very profitable for them. So with the base chain launching soon, what is going to be the rollout of this? Well, people actually did find the contact address and start speculating on meme coins on the base chain last week. But the official public rollout is set to take place on August 9th, which is going to be this week. And users starting next Thursday will be able to bridge their Ethereum over to the base chain officially. As I said, people did find the contact address and start speculating on chain on the base L2 before it was even officially launched. But we can look forward to the official launch this week. And I'm going to talk about how you can prepare for that launch. But firstly, let's go back a second and just touch on what all the rampant speculation was last week with the meme coins on the base chain. Well, basically, we find ourselves in a situation where volume on most exchanges is completely drying up and volatility in the crypto market from a broader perspective is drying up as well. You can see in front of you the spot markets have been diminishing in terms of their total volume traded. We can also see the derivatives markets have been diminishing as well. It's just simply a boring period in crypto. It's a sideways slash downwards period since we had that massive Bitcoin spot ETF fueled run up. And now people are getting really bored. And what happens when people get bored? Well, they get desperate. They itch for trades. They itch for opportunities on chain. And we're seeing the progression of crypto become, at least over the last couple months, continuously more PVP as people look to kind of scramble for opportunities on chain. And it's making the new narratives seemingly more fickle. So trends are lasting shorter amount of times. People are hopping from trend to trend because it's basically the same people in the space, right? All trading against each other. So we saw obviously a lot of the meme coin hype a couple months ago with Pepe heading into more recent narratives that have performed well. We've seen the Telegram bot narrative start to really perform with a lot of these being massive gainers in the space as AI and trading bots are very popular subjects at the moment. By the way, I do believe this sector has immense potential, but it's undeniable that it was something that was highly speculated on over the last couple of weeks. We even saw the animal racing coins start to rocket. I mean, these hamsters, everyone was racing hamsters last week. It was absolutely insane. And why are people kind of desperate for these on chain opportunities? Well, it's because not much has been available in the way of the majors for trading just due to volume being so low and price volatility being so low. As I said, lowest volatility of the entire year. So you have this environment where people are desperate for risk. People are looking for on chain opportunities. And that leads me to Coinbase with the contact or the contract, sorry, address of the chain actually being leaked to the public resulted in people not illegally, but I guess not officially bridging their Ethereum over to the chain, not through an official bridge, but simply via manually depositing to the chain. Because once you once you have the address of the chain, you don't need an official bridge. You can simply send your ETH via a metamask to that chain. So once people found the address, they were speculating on the chain and we, as you can see in front of you, saw a bunch of these new meme coins are starting to launch on the Coinbase chain. This is probably not what Brian Armstrong and Coinbase wanted from their brand new changes to become a huge meme coin speculation chain, especially considering they are currently facing a lawsuit versus the SEC due to securities law. So the last thing they would want is the lack of investor protection on a new chain. But I guess when that is essentially a public good, a public good means the public can do what they want with it. And in crypto, if people want to speculate on it, and that has been one of the biggest use cases for crypto today, they are going to speculate on it. And that's exactly what happened when people found the chain. The biggest one that you're probably familiar with, but in case you're not, it was a bald token. Basically, Brian Armstrong's bald head started trending and it became a meme coin that actually rose to an $85 million market cap at its peak. I saw this all over my Twitter timeline, but just 48 hours later, we actually saw this get rubbed. So just once again, a warning that you shouldn't get too carried away with these memes in crypto, especially when a chain hasn't officially launched yet. Simply all it was was people basically creating random meme coins, speculating on chain, and then a lot of people also getting rubbed. Sorry if you did get rubbed, but I'm pretty sure if you were bridging onto base last week, you knew what you were doing in terms of the risk you were taking on. But you can see in front of you, the amount of net flows into the base chain skyrocketed on that day with $57 million worth of ETH actually hitting the chain last week. And then we can see even in the last few days, we have seen $5 million, another $5 million, $2 .5 million coming onto the chain. So people still want to speculate over there. So now what I want to do is get into not the speculation, but what actually is launching on the chain that is real. Because as I said, there has been a lot of speculation, but we also want to look at what is real, what is tangible, and what we can look forward to from the Coinbase chain. And then after we look into that, I want to talk about the metrics. So from a pricing perspective, because we know base doesn't have a token, how can you potentially benefit? So as a new investor, if you are bullish on base, how can you benefit and also look at the metrics behind why this could accelerate Coinbase's core underlying business and why I believe personally, base could be a real player in the L2 space for years to come and why I'm relatively excited about it. Before we get into that stuff, I want to remind you of our official exchange partner of the show, which is OpenX. If you do want to trade on OpenX right now, you can. They're essentially doing things a little bit different to your typical exchange. They have a real focus on transparency and through their own USD credit model, what you'll be able to do is essentially deposit illiquid assets that you may be holding into MetaMask, for example. You know, Rollbit tokens, Pepe tokens, Meme coins, et cetera, and actually put them up as collateral to trade against them. So it's going to be, I think, an exchange that degens really like and due to the transparency of it all, given the fact that is on chain, there is a less barrier to information compared to other centralized exchanges. So you're going to know where the liquidations happen. There'll be a lot more transparency on the order books and it should create a unique, but also quite a what's it called? Not novel, but authentic experience because of the transparency. So OpenX, you can trade on today. You may know it as the FTX claims exchange. Now that's how they officially launched. Basically, you could submit an FTX claim and get a large percentage of your value back to the people that were victims of the FTX kind of downfall. But they aren't just the FTX exchange. They obviously are launching some really nice trading products in the months to come. And that's something I'm looking forward to. But if you still do want to submit an FTX claim, go ahead. There is going to be a link in the description to OpenX. If you want to sign up and register to be early to the exchange, you can. I think they've done 1 .75 bill worth of volume this month, which is pretty massive for a new exchange launching on the market. And that's because they have started to launch some of their major pairs. You've got your Bitcoin ETH, but now you've got your SOL, XRP, MATIC, we even saw Luna just get launched, Doge, et cetera. So they're flushing it out quickly with a lot of new pairs. And they have liquidity for those pairs via their order books as well. So link in the description to that if you want to check it out. And thank you for OpenX for sponsoring the show. Let's get on with things. So the first thing I want to talk about is exactly what is being built on base. So what is happening from a fundamental perspective. And then we'll get into more of the financial slash metric side of things. So it's not just the meme coins that are deploying on base. It is going to be your big bonafide DeFi applications. Think SushiSwap, Synapse Bridge. We see Rebase as well. They're launching their bridge. We see perp DEXs like CAP start to launch. So lots of funding going into creating DApps. And these are just a few, I'm sure a lot of big applications like think your Uniswaps, your curves, et cetera. KyberSwap, these applications that are prominent across a variety of L2s already like Arbitrum and Optimism. You bet alongside ZKSync and these other L2s that they're probably going to want to launch on base as well, which is in my opinion going to be one of the biggest L2s in crypto. Synapse, the bridge as I mentioned before, they also have enabled base. You can see here, you can bridge from Ethereum to base. But the official base bridge is launching in three days on August 9th. So this is where the official mainnet launch is going to be. I think on August 9th as well, we're going to see some of these big apps deploy because last week, all the meme coin speculation led to a lot of rags and a lot of non trusted DApps launching. We're going to see the real DApps, the trusted DApps start to deploy from August 9th and obviously over the months to come, then we're going to see more bonafide players start to enter the market. We know Coinbase has a lot of funding. So I don't doubt that there's going to be a lot of money poured into this chain. And I also don't doubt that big applications won't want a slice of the pie, given the fact that it is backed by Coinbase, like pretty much everyone launched on BSC. When Binance is back yet heavy, I expect the same thing to happen to base and we're going to see a lot of big applications launch over on base as well. So we know the big applications are coming, but why does this matter? Well, we are heading towards EIP 4844. That is going to be, as you know, if you've been watching my shows, the upgrade that reduces gas fees on Ethereum L2. So we are going to see gas fees on L2 is reduced by an order of magnitude. And it's interesting because Ethereum gas via this upgrade is not going to be lowered. So it's just the L2s that are going to receive the cost benefit of the call data that is going to be aggregated. That is a very good thing for layer two is because there is kind of like an underlying incentive here for not only new retail to use L2s over other chains, but also existing Ethereum users to use the L2s because they're going to be so much cheaper comparatively to ETH. So I view this as one of the biggest catalysts this year. In front of you, you can see I have a list of my top crypto catalysts for the year. And EIP 4844 makes the list as an Ethereum slash on -chain focused catalyst that I think will have big ramifications for crypto. In that general trade, I think L2s will experience positive price action as long as the market holds up. Obviously, if the market dips, anything is going to struggle to rise. But in positive market conditions, the L2s should, in my opinion, exhibit relative strength due to this narrative being so strong. But we are also going to see probably more L2 inflows closer to the date and after the date of the EIP 4844 upgrade, given the fact that you will be able to get a better trading experience. I mean, just for comparison's sake, I'll give you an idea on optimism. A swap right now is around 12 cents. After the upgrade, it's going to be around 2 cents. On Matic, it can be as high as a dollar. After the upgrade, it's going to be 5 to 10 cents. So we're talking about 80 to 95 % reductions in the fees. In some cases, for difficult things like minting NFTs and complicated LP deposits, we're going to see fees reduced by up to 99%. So it is a big upgrade. When's it coming, you ask? Well, they say November to December. At least that's what I'm hearing from some devs. But I think given Ethereum's track record with these upgrades tending to happen a little bit later, I'm thinking maybe January to February is a more realistic target. But look, for now, in my head, I'm pinpointing that late Q4 December -ish rollout. And L2s subsequently, they have seen a huge rise in dominance. We can see $10 billion in layer 2 TVL has been accrued over the last few years. And the L2 market in general, from a funding perspective, from an activity perspective and from a TVL perspective, has been super strong and only gaining market share versus the L1 model that was so hyped and so talked about during last bull run. So it's been interesting over the last two years to see the shift from these other ecosystems being really popular. I'm talking like Avax's near Solana's into things kind of seem to aggregate into these ETH L2s. And although ETH L2s kind of operate as their own proprietary chains, because they're leveraging the security of the Ethereum network, you can kind of view them as an extension of Ethereum. This is a super strong narrative. Coinbase slots into this. Now, it's also an extremely competitive narrative, because when you have lots of different protocols with huge funding fighting for a slice of the pie, there's going to be a lot of competition. So I don't expect it to be easy for any L2, not just Arbitrum, Optimism or ZKSync, but also Coinbase to compete in a highly competitive market. But when I look at base versus the rest of their competition, they do have that advantage by being backed by Coinbase. Coinbase has 108 million users as of 2022. Look at the growth of Coinbase's users, up from 56 million people in 2021, which equates to a roughly 92 .8 % year on year growth. And its user base has 100x over the past nine years as crypto has grown. Because Coinbase can leverage their existing user base in order to funnel people via in -app funneling systems to the base chain, I think that makes the value proposition of base even higher. Now I must reiterate, base will not have a token. So the beneficiary will be the dapps on the chain, the traders on the chain, because there's going to be a lot of airdrop new incentives for trading on the chain. And then also obviously Coinbase as the underlying business, they're probably the biggest beneficiary. So when you look at a way to benefit as an investor sitting back now, I don't want to impact your opinion. If you're bearish on base, be bearish on base. If you're bullish on base, however, and you're asking me, Miles, how can I make money off this trade? Well, there are a few ways. You can invest in Coinbase. This video is, of course, not financial advice. I'm not suggesting you buy or sell any equities. I'm just giving you the options in case you were bullish. If you were bullish, you could buy Coinbase because there will be some sort of net benefit for the overall Coinbase ecosystem. It may not be linear, like a percentage of fees may not necessarily go back to Coinbase stockholders, but in general, it is adding to the value proposition of the ecosystem. So it'd be good for Coinbase. It could also be good if you're an airdrop hunter because a lot of new applications will be fighting to become the biggest perp decks on the base chain. And there should be incentives, just like we've seen the OP incentives on Quentor at the moment has a lot of people trading using synthetics on the optimism chain versus Arbitrum. And the other option is, and this is probably the best option if you're savvy and you're really in touch with the market and you're active on chain, going to be investing in the protocols that launch on base. Because the biggest decks on base, the biggest money market on base, the biggest gaming project on base, if they can nail it, they're going to also be subject to this potential 100 million users. And as Coinbase continues to gain users that could even grow 500 million, a billion, that's not unrealistic to expect in the next bull run when retail comes back into the market. So if you can invest in the top quality protocols, I think there is huge upside. Now, what are those investments? Obviously, I can't say today because they haven't launched yet. We don't have the metrics. We don't have the data. I don't like investing blind and I certainly won't buy a governance token on another chain without affirming its value on Coinbase. But I'm going to keep my eye out for new opportunities and I will do a video. So make sure you turn the notification bell on if you are watching this or you're excited for that video because I will do a video on the best base opportunities when the time comes. I don't want to front run it. One thing I can say though is Ethereum is going to be beneficiary of this as well. So it's not just Coinbase or the protocols on Coinbase. It's also going to be Ethereum because it's still going to be the gas token of the base chain and a lot of other L2s as well. So Ethereum is obviously one of the major beneficiaries here. I have a statistic to show you that I found really interesting. I said earlier, I would talk about some metrics. I just want to do some market cap comparisons, right? Coinbase as a company has a market cap of $20 billion, right? I'm just giving you an idea of the potential of the base chain. $20 billion. If Coinbase was listed on the crypto market, not as a stock market, but as a crypto token, it would currently be ranked seventh for market cap. So this would make it the one, two, three, four, fifth biggest ranked token because Tether and USDC don't count their stable coins. So it would be the fifth biggest token in the market excluding stable coins if Coinbase as a company was launched. Let's look at BNB, right? So not Binance as a company, but let's look at Binance's chain because the base chain is going to be similar to the BNB of Coinbase essentially, right? The BNB chain, now maybe BNB had more utility on the Binance app compared to Coinbase because base won't have a token. I'm just kind of using this as a rough guide to show you like the value prop of an ecosystem. But if we're judging the ecosystem BSC by the BNB token, then the BNB token had a market cap of $100 billion in the board, $100 billion. That's five times the current valuation of just the exchange business of Coinbase.
Crypto Banter
A highlight from This Altcoin Is The Next LUNA (ft. Jordi Alexander)
"I'm joined by Jordy Alexander, founder and CEO of Cellini Capital. Today we are going to be discussing the new kid on the block, the hot coin that's risen into the top of the crypto ranks world coin. Jordy, welcome to the show. Good to be with you, Miles. So we've got a bit to discuss today, but the primary thing I want to discuss is the whole world coin situation because it's basically come out of nowhere, risen to the top of the crypto rankings. I think it's a top five project by fully diluted valuation, which is absolutely crazy for the first week of its existence. Could you maybe explain to the viewers? I know you have a lot of thoughts on it, but before we get into that, could you explain to the viewers like what is world coin? What are they trying to do? And what were your first impressions when you first saw it launch? Yeah, I mean, I've known about world coin for years. You know, this project has been ongoing. There's been some massive rounds being raised in the past VC rounds by, you know, some home and it's kind of obviously had that the cache to be able to do that even without a product. And, you know, it's been many months and we've been hearing reports of, you know, orbs being used in different countries and people complaining, some people signing up. And now there's actually a coin and it's different now. Like, you know, the chasm has crossed. They've actually launched it. I'm a bit surprised they launched it so soon. I thought they might wait a bit more, but I guess at this point they want to, stop asking people to sign up with imaginary coins. They want to give them real coins that actually exist so people can get money right away. And they've decided to launch. And yeah, the initial FDB is in the 20s of billions, which for a bear market is pretty high. It is one of the most innovative, interesting projects. There is a lot of concerns with it. Somewhere around the dystopian feel of like having your eyes and, people are very sensitive about their eyes. So when they're telling you that you're going to have to use your eyeballs to use this, there is a reaction there. I'm actually more interested in the other aspects that are not around the eyeballs. I kind of view the eyeball thing as, you know, potentially not necessarily as big a deal, but some of the economics around it may be being more dangerous. So could you break down the actual concept? So understanding my of the project is they're basically using people's retinas to scan and KYC individuals essentially in countries, or can benefit countries that maybe they don't have the same amount of access to information services as someone in the West. What benefit does this offer to users? What's the value prop here for a service like Worldcoin? Yeah, I mean, basically why are they using eyeballs? You know, they could use fingerprints, which is obviously like the more traditional way of having a unique mark. I guess, you know, eyeballs is maybe a more futuristic and faster way to verify than fingerprints, which have been used for many decades. But the idea is that they just verify that only one person can get an airdrop or get, you know, some benefit and not be able to sibble it by having 10 or 100 versions of themselves. And the iris is unique enough that there can't be like two of exactly the same detail there. So their project is basically trying to create a database of, you know, users that have an app to be able to get this Worldcoin in this case. And potentially, you know, that technology can be used for other coin airdrops or something else. We don't exactly know. They haven't been very clear as to, you know, what their full plans are. Apart from telling people that, hey, like we're not storing the data, so we're not going to be able to ID you. We're just storing ZK proof that says that this is a unique person that hasn't already signed up. So you can only have like one sign up per person. But if you look at their documents, they do seem to be trying to make a new world currency. And this is the part that I've been kind of a bit more focused on. Yeah, I saw your like pretty extensive thread. I thought it was fantastic. And that's actually when I reached out to you saying, look, we need to get you on the show to talk about this because I found it very, very interesting. So you said here the important thing you need to know about Worldcoin is that it aims to become a currency, an unbacked currency used for monetary transactions, aka based money sounds familiar. What's the comparison here between Luna and Worldcoin? So Luna was another new currency. It was supposed to be a version of the dollar backed really by Luna, which is kind of a circular argument, as we all realized and experienced in a profound way. You know, a couple of years in. But in a similar way, like UST was supposed to convince us that, hey, like this is money. You don't need to convert it into dollars USDC. Like just treat it as money. So keep it, store it. You have a savings account on Anchor, get 20%, just leave it there. This is money. Trust us. That didn't work out. So the analogy is that Worldcoin is trying to do something similar in the long run. Obviously, it's very soon. But what they eventually want to do is tell people like, hey, you're getting these WLD coins. You don't need to sell them. Just, you know, this is going to be money that you can start transacting with. Because if everyone's getting them and selling them, then there's only sell pressure and it doesn't survive. So they're trying to ultimately tell us that in the long run, this will be considered the same as gold or dollars or, you know, depending on your crypto affiliation, Bitcoin or Ether. Wow. So they're trying to essentially create like a new currency. I mean, you actually said here, who will be on the bid? So I guess that's the question we're asking at the moment. Like what could potentially underpin Worldcoin to actually have real buyers stepping in that aren't just VCs or market makers? Yeah, exactly. Who's going to be on the bid? Because when no one's selling, it doesn't really matter. You can keep your market cap. You can keep your billions of FDD. You can keep all these things because, you know, no one's on the other side. But we saw this very recently with HEX. So HEX is another one that is in this category of Internet money trying to be like a cryptocurrency base, a base currency where HEX actually forced people to lock up for sometimes, you know, up to 10, 5, 10 years. And in essence, restrict the selling and not needing to create a bid. But eventually, you know, some bad news comes out and we saw with HEX now, like Richard Hart is under a suit by the SEC. We have this situation now that suddenly people realize there is no bid. And, you know, their money that they were saving is not being backed by anything. And that's OK with something like Bitcoin or Ether, because at this point, people understand that, you know, this is a currency that is not backed, but it's like a fair global currency. And WLD is trying to get into that same path. But there are so many carcasses. The road is filled with people that have failed to achieve this. And the problem with WLD is it could actually create a huge bubble because it is aiming to, first of all, onboard millions, maybe billions of people like, you know, they're trying to, you know, right now they're saying it's eight people. What is it? Eight people every second or some sort of rate like this? You can actually look at the website. I'll show you right now. You see it ticking up right in front of us. I don't know how accurate this tracker is. I'll show you on the screen. But every few seconds, this number keeps going up. We'll just keep it here for a second. But yeah, that number keeps ticking up. It just jumped up like 10 before I shared it. Now it's stopped. But yeah, something like eight people every, what is it? Two thousand, $2 ,000 manufactured, 561 ,000 new accounts in seven days. Yeah. So, you know, it has the potential of being exposed to hundreds of millions of people, let's just say, you know, within the next few years. And that analogy is pretty scary because if we start having these fluctuations on a coin that's unbacked and there's hundreds of millions of people who don't understand it because it's such a complex thing to understand money, money is so difficult. Where is the threshold between currency and backed currency and fiat currencies? This is not a fiat currency in the sense of like a government is behind it that I can actually, you know, have tax revenue behind it. All that you have right now is VCs. So who's on the bid is like, you know, you have VCs that want to get exposure to some Altman's AI coin. They think they're going to make a return. They're not necessarily like thinking, you know, is this going to achieve a vision? They just want to get a return. So if they can buy it at $2 and then sell it at $10, $20 because the distribution value is so high, like the network effect, they'll do that. But this like one coin, one person, even though it sounds great, in essence, it's like the opposite of capitalism. It's saying we're just going to give everybody the same. Unfortunately, I find it very idealistic. It's not how the real world works. And as proof of this, even on the small scale that Worldcoin exists right now, we've seen news stories in the last days of, you know, people in Africa getting farmed and, you know, their IDs being sold to China and other places. So these people that are being used, they're not going to get the benefit of Worldcoin. And instead it's become a corporation like you have mafia kind of corporations going around finding villages of people to just get, you know, your iris scanned. And this is like... Yeah, I wanted to mention this point. We're seeing Kenya actually suspended Worldcoin over safety concerns. So that actually happened just a few hours ago. So we're already seeing some countries kind of step in and block it because they have been experiencing this. Is this like, I assume this is a major threat to the business model, right? Especially in these third world countries, which they're trying to, I mean, this solution has been integrated to try and help those countries specifically. And these are also the countries most at risk. Yeah, absolutely. I mean, you know, even in developed countries like the United States in the last century, you know, we have mafia organizations and the mafia. What is the mafia? It's not like the mafia is just gambling or it's just drugs or it's, you know, racketeering, whatever, like whatever is the hot thing that has money. You start getting gangs and the gangs start organizing around this, extracting money from that thing. So in this case, if Worldcoin starts creating a meaningful amount of revenue per person, there will be gangs of, you know, dangerous people, dangerous men that will go around and just kind of collect a lot of humans and human irises. And so this whole thing breaks apart. We just don't live in a world that has the safety to be able to even create such a project. It's a very ambitious project, but it's not realistic. So just from my understanding, this is basically how it works, right? Everyone that KYC is using one of these orbs gets an airdrop of Worldcoin. That's the only way to obtain Worldcoin, right? Unless you buy it on the secondary market. Yeah. So the idea is basically just relying on people. Yeah, the idea is in the future, like we will have more and more airdrops going individually to people who sign up. And, you know, someone's vision is that in the future, the AI will create so much wealth, but we'll need to distribute it to everybody. And the way that we'll distribute it to everybody is with Worldcoin. So in essence, who's on the bid? AI in the future. For now, it's VCs. And why can't I use Bitcoin? You know, it doesn't have Bitcoin. It has a new coin. It's a new coin. They have all of the coin so they can distribute it. But yeah, like, first of all, who will control the AI wealth to be able to redistribute is one question, because usually governments end up having some control. Like, you know, when the corporations get too strong, the governments step in and they want to tax them more. They want to start collecting some of the IP or some of the revenue. And it's not clear to me that OpenAI, if we're in a world where they create trillions of dollars, the US government will just stay out of it. I don't think that's reasonable. So I want to go back to a couple of minutes ago when we made the Luna comparison. Obviously, Luna ended in a really bad way. But prior to that, it was a massive bubble. It had a massive run up, was probably the strongest gainer ever in crypto, maybe, you know, barring hex. But pretty much, you know, a top three gainer of all time in crypto. The biggest gainers are these like currency coins because they don't have a tab link to anything else. So you can just kind of keep bubbling it up. They have mass appeal as well, because it's an easy thing to understand, or at least it's perceived as easy to understand. It's payments, it's money. It's why crypto exists. That was the value property of Luna. Hold on, hold on. I'm about to ask Geordie whether he thinks there is going to be Luna -esque upside before a potential collapse for the World Coin token. But before I ask him that question, I want to give a shout out to one of our official show partners, OKX, who actually do have the World Coin token listed on their exchange. So of course, you don't have to trade it. But if you do want to buy it, sell it, long and short it, you can do so on OKX, either on spot or using their perpetuals function. And if you sign up for a new OKX account, you can actually get up to $60 ,000 worth of a welcome bonus. If you just sign up, don't deposit any money, you can receive a mystery box of up to $10 ,000 in value. So to create a new account, click on the link in the description below for OKX, sign up, claim up to $60 ,000 worth of rewards and trade any token you want, including World Coin. Now to the most interesting question of the video. So do you think? And obviously, this is all just speculation, not financial advice, but before some sort of eventual demise, which you are predicting in your thread here, do you think that it could experience some sort of bubble? I mean, I know it's already at $23 bill, but is there more upside in the next few years before things potentially turn sour? Yeah, there's huge upside. And that's kind of why I ring the alarm bell. And I'm not short World Coin. No, I do worry about the size of the bubble. And I think it could get much, much, much bigger than Luna was. If you look at lunar hacks, you know, we're talking about at the peak, maybe like 50 billion, something like that. This could potentially be like the first trillion dollar bubble in history. And, you know, that team has some really strong people in it. The World Coin team can execute in very skilled ways. And the concern is, if they're executing in skilled ways, but they're going in the wrong direction, they can push it much further than we've seen before. So it could eventually be one of the greatest short opportunities ever. It's very hard to time the top, though. So you would need to wait for some sort of like reversal or collapse like Luna and probably try and pick off some of the related coins as well. But in the meantime, is this something you'd be interested in longing? Is it like on a personal level? Would you consider going long? Maybe not now, but at any point, long World Coin, if you think it could be a bubble. So I don't know. I mean, I have like ethical concerns of contributing to the bubble. If you just look at it like purely from a trader technical perspective, there could be some times where you look too long. You know, it's very manipulated market right now. Like all of the coins are basically managed by market makers and the market makers have a certain strike price at which they're willing to sell based on like where they make money. So I think at $2 .80 is when they'll just sell everything. And between like $2 and $2 .80, you know, we've kind of seen like quite a tight range, which is crazy, right? Like for a new coin that doesn't make any sense, we've seen a very, very tight range on this coin. You know, it's really not moved outside of like this, you know, $2 range, which is extremely like rare. And I think it's because it's so controlled by the market makers. So what we've known is that the market maker deals are for three months. After three months, I guess those will get reevaluated and maybe some new strike prices get set. There could be a point after the three months end where, you know, you could see like an increase in price because the new strike prices might be higher. It depends how they play this and it depends how the world's playing team, you know, creates incentives for the traders. They're going to have to also add some sort of additional value prop though, right? Because on face value, it seems like there's a lot of supply. Like when I just think about it logically, there's lots of airdrops constantly occurring to people that sign up. There's lots of supply coming onto the market as unlocks take place. Where's the demand coming from? Obviously, speculation is the obvious answer because people are going to want to speculate on this being kind of like your next Luna, maybe market makers. But as you said in your thread, they often don't hold positions for a long time. It's more just to close spreads. And then you also have VCs as well who might buy. But where's the... Yeah, I mean... Surely they need to add some sort of incentive to or value prop to the underlying token. So I think they can keep it going for now because the market cap is only 1 % or 1 .5 % of the actual fully diluted value. So when we're talking about 22 billion, it's not like somebody needs like, you know, hold up a 22 billion valuation. Yeah, like it's 1 % of that. So really, like all it takes is, you know, tens of millions. And that's they've raised more money than that themselves. Like they can be on the bid for small amounts if it comes to it. And, you know, they can always convince more VCs to come in and buy more as needed. So at this stage, there is a bid because of the size of it that can be controlled. But what we've seen is that, you know, you can kind of like meme this thing into existence where you convince people for long enough that this is a stable currency. And then at some point, you know, some people start buying in and then it takes off. That last line just gave me shivers because I was just reminded of Luna. Like it's like I do see the analogy now. I see the similarities. Well, I mean, I think that's all on Worldcoin. That's all I really wanted to ask unless you have anything else to add. No, I mean, I'll add. But, you know, I appreciate the innovation of the project because it's the first time someone's had the scale and commitment to like really go around the world and try to, you know, access individual people everywhere and try to create something like this. I think a lot of the things that I've pointed out are already being evident and we'll see more and more examples of those. And I don't think there's a way to fix it. So ultimately, I hope we just learn the lessons without too big of a bubble. But I do worry that we might get a large bubble. I do have one more question, actually. I noticed that they used Optimism's Superchain for their main net. Well, that's what they're committing to. What do you think that says about Optimism? Because we have seen the trend recently. A lot of these new initiatives, pretty ambitious projects have chosen Optimism's stack. We know Coinbase as well. Their chain's launching later this month. They've chosen Optimism. Is this, yeah, how do you think this reflects on Optimism as a later? Well, Optimism is a brand. And at this point, it's kind of like the most Ethereum foundation aligned friendly brand, you know, more than Arbitrum or any of the other L2s. And so projects that aim to be neutral and aim to be transparent on that layer and kind of less capitalistic, they generally will go towards Optimism. So something like, you know, Base, they don't have its own token. It's not really trying to, you know, come into like the token wars necessarily. It's a natural association with Optimism. Same with Worldcoin, because ultimately it's supposed to be a charity UBI type of coin. So it makes sense to use that stack. But yeah, I think, you know, for more capitalistic projects, we'll see them on other L2s. Okay. Yeah, interesting. I mean, there are also a lot of other L2s probably that aren't available right now that will be made available. I was actually looking at the funding data yesterday and 8 of the top 12 projects by VC funding were layer 2s. So that means, yeah, 8 out of 12 of that most heavily backed by VC projects were, you know, they weren't layer 1s, they weren't, you know, DEXs, they were L2s. So it's pretty crazy. Obviously, we've got Scroll, ZK, Sync, StarkNet. So many new layer 2s actually coming to the market. I think like all of them will have some sort of fight for apps and for BD and like ecosystem, because there's too much technology, there's too much block space right now. And it's going to have to come to like users and getting like good, good apps and getting good products built. And we have very little of that. So it'll be interesting. It's so funny that you're saying that. It's so funny that you're saying there's too much block space because in the bull run, don't you remember that narrative? There's not enough block space. We don't have enough L1s. Like we need Solana, we need Phantom, we need Avax, we need Luna. It looks like the tables have just completely turned. Completely turned. And now we don't have the apps. Now we need, you know, real apps. But what I do like about Worldcoin is the fact, as you said, they're being ambitious, but it is, look, maybe it's not going to be the most sustainable use case, but it is a use case that's novel and new and refreshing to hear because how many more AMMs can I hear about before or perp DEXs or, you know, airdrops can I hear about in crypto before like, you know, my ears start to bleed. Like I like having kind of innovation, even if it's not, yeah, we don't agree with everything or I like it. I like the, I like having new use cases. So I'd love to see more players push the envelope here. That's what crypto really needs. Then eventually you are going to get a winner. This could be a winner, but there's also going to be other protocols which give us access to the first billion people in crypto that we need. Absolutely. It's not going to happen on the L2s. It's going to happen. Yeah, it will. We will learn a lot from this experiment. It's a bold experiment. And in some ways I applaud it, but in other ways I worry about some of the economics. Well, it's good because if it fails, you'll be the first one to call it. Before I head off, I want to quickly give a shout out to one of our official show exchange partners, OpenX, who are a new crypto exchange with a major focus on transparency. They have many cool features, but today I want to focus on their OUSD credit model, which essentially is going to allow you to deposit relatively illiquid assets on chains, such as Rollbit, Pepe or Staked ETH. Use that as collateral using the OUSD token to trade against them. This will open up new gates to flexibility when it comes to trading and is amazing for the degens that have illiquid tokens in their wallets and still want to trade on an exchange. You may know OpenX as being the FTX claims exchange. In my opinion, they're a lot more than just an FTX claims exchange. But of course, if you do want to submit a claim and you do have an outstanding FTX claim, you can submit and get up to 200 % of your value back through OpenX. However, I'm very excited for some of the products that they are launching in the future and you can still trade many of the major pairs like Bitcoin, Ethereum on their platform, which is fully transparent. All their liquidations happen in an on -chain transparent manner, which is obviously very, very important, especially given what we've seen from exchanges in recent times, especially towards the back end of last year. So there's a link in the description to sign up for OpenX if you want to be one of the first people to use their crypto claims and derivatives trading platform. And I'm excited about some of their product launches coming in the future. Well, thank you very much for joining. We may have another quick conversation after this about DeFi, but that will be in a part two that people can click on in the link in the description if time permits. But I do recommend that you go and check out Jordi's thread. I will also link that in the description and give him a follow over on Twitter. He also started a new podcast as well, which I'm also going to link in the description. I recommend you follow that. They talked about this extensively for about an hour with three other experts in this space as well. So I highly recommend you check that out. Link in the description to all of his resources. Thank you very much for joining, Jordi, and we'll see you in the next one. Cheers. Thanks, Miles.
Crypto Banter
"degen" Discussed on Crypto Banter
"Lows. In today's show, I'll be giving you all an update on the USD C situation, letting you guys know what my thoughts are in terms of its chances of a full re peg, heading into next week, which is extremely critical, given the fact that redemptions for U.S. dollars can officially start tomorrow. Once banks open on Monday, I'm also going to run through the overall market update, what is happening with Silicon Valley bank, what is happening with the CPI data next week, a lot of key macroeconomic data is coming out, as well as my general thoughts on the market operation choke point and a lot more. You guys know how the Sunday streams work by now. Usually they are kind of like a chill hangout sesh where we discuss altcoins, research stuff. Today is going to be a little bit different. It's probably going to be more news focused, a little less degen. I'm going to share some trade setups with you guys. And at the end, I will have a Q&A session where we talk alt and kind of my plans and thoughts for certain trades and all that kind of stuff. But a little less research focused just given the fact we had so much news that has happened over the past few days and I think it's important that we're on the right page where aligned heading into next week because yeah, it's going to be another really, really big week because we not only have macro data, but we also have the Silicon Valley bank situation, which is probably going to play out tomorrow and the day after and that's going to cause stock market volatility, et cetera. So smash the like button for the Sunday streams. I've really, really been enjoying doing them. They are a lot of fun. Welcome to everyone I see. Only do your own research in the house. I see if I'm at as well. We've got a bunch of people Luke snipers always in the house. Danny says, stop the fard. Well, it's not necessarily FUD. It is pretty genuinely a scary time in the markets. Lots of uncertainty hopefully in today's show. We can go through the uncertainty and evaluate what risks potentially are there. Yeah, I see everyone is with us so welcome. Welcome, Francis as well. Someone said there's a huge crash coming tomorrow.
Crypto Banter
"degen" Discussed on Crypto Banter
"That's like if you want to do it on a Dex, obviously you do have centralized exchanges. So binance bybit get okay X there's a link in the descriptions, by the way, to any exchange if you want to sign up bonus to get involved. Think okay X has a $10,000 mystery box right now. If you sign up and deposit $50, that's pretty good. So you can use the centralized exchange. There's many places you can swap. Depends where your USD C is. Someone said they just longed on just long USD C on bybit. Yeah, I mean, on buy, but it's on purpose, so USD C perp contracts. It's 9 four 5 three. So if I did get back to a dollar that's 6%, problem is more leverage to use the more chance of getting stopped out you have. So you'd want to have your stop somewhere in the 80 cent range. I mean, at least, you wouldn't want to have it at like 92 cents might get stopped. But yeah, that's a decent I don't think it's a terrible play, but it's obviously not like a high conviction plan. You don't go in with size into a little ARP. And it's not really a true R either. It's more speculating that it is an arbitrage because there's no redeeming dollar exchange right now, at least not until coinbase opens. So they would draw. Someone said too risky, 100% for a lot of people, this is too risky. This is degen, like it shines a degen. He's a degen. I'm a bit of a degen, so that's why I might do it, but I'll have to decide after the stream, whether I do it, but it's definitely an option and die is definitely option as well. To do the same thing with. But because you are actually being paid to be long, I think a lot of people when they trade ignore funding rates, but if you try and short this, you're paying crazy amounts to be short, you can't hold it for any significant amount of time, you'll just get wrecked. So
Bankless
"degen" Discussed on Bankless
"There's also the token report. A monthly bullish bearish neutral report on the hottest tokens of the month. And the regular updates from the token report go into the token Bible. Your first stop shop for every token worth investigating in crypto. Bankless premium also gets you a 30% discount to the permissionless conference, which means it basically just pays for itself. There's also the AirDrop guide to make sure you don't miss a drop in 2023, but really, the best part about bank was premium is hanging out with me, Ryan, and the rest of the bank list team in the inner circle Discord, only for premium members. Want the alpha? Check out Ben the analyst degen pit, where you can ask him questions about the token report. Got a question? I've got my own Q&A room for any questions that you might have. At bank list, we have huge things planned for 2023, including a new website with log in with your Ethereum address capabilities and we're super excited to ship what we are calling bankless two soon TM. So if you want extra help exploring the frontier, subscribe to bank list premium, it's under 50 cents a day and provides a wealth of knowledge and support on your journey west. I'll
CoinDesk Podcast Network
"degen" Discussed on CoinDesk Podcast Network
"Directly engage with them, give them something to do. Whether it be sharing a social, co creating an energy drink or picking from a line sheet, different colors and essentially bringing insights up front. Bringing them in and make them an extension of your team. And so jogging has been incredible in that we're 8 or 9 months in with it. We have the 1600 person super engaged founding community that essentially takes action wherever we need it to help grow the brand and they have this collectible essentially that over time could be something that they sell. So really that's where this idea that community ownership starting with a collectible and over time kind of further incentives is the right kind of way of aligning incentives between fans and founders that the direct to consumer model and the venture backed direct to consumer model doesn't support today. I'm really curious because I think outdoor voices was really built on social action within your community and really leveraging the platforms that at the time were so popular within this audience. I don't feel like we've seen other than Twitter as sort of tremendous usage of visual social media TikTok, Instagram, for web three brands to sort of leverage community and get that kind of communal funnel going that I think really draws and brings in so many folks. When I was doing more research on TYT and joggy, it seems like you guys really are leveraging what the potential power of social is. And I'm just wondering what your advice is to web three founders, but also web two brands that maybe are failing to utilize social for the audience. And then second part of that question is, does the web three audience, are they suspect of social and therefore other than a crypto Twitter or Discord or things like that that feel a little bit more insider for them? Do they want their brands to be on TikTok? That's a great question. We've really built this first version of the tool around this concept of automated community social proof. And so what do I be allows brands to do is say, hey, collectible holder of the topicals beauty community. Every time you post a TikTok and tag topicals, you automatically get brand coins to your wallet that then can be used for essentially discounts or access to exclusive experiences. So we've made it very easy for that amplification to happen across channels where audiences already exist. And so I think there's no reason not to reward for that type of amplification and particularly where we're focused with brands. That's a crucial part of where discovery happens. And so we've made it very lightweight to now incentivize for that post versus just hoping that people are posting on their own. In the web three space, I'm actually curious given you guys are more kind of in that world. What is the aversion to the traditional social media? Obviously, it's a centralized space where you don't have access. From my perspective, really like when people think they're building community on Instagram, I ask them, do you actually own or have access to those relationships? And so that's the critical part here. And the critical unlock is actually having access to those ownerships or that relationship with your community. Wow, there's so much there, so I'm going to sort of break piece by piece for one, ty, how does it actually work to incentivize your community to do things like post on TikTok, one thing I talked to our partners all the time about and Gary has been such a big believer in TikTok for a long time that we've been talking about this for what seems like ages and I think brands are really starting to catch on that TikTok is. I mean, that's a place where 40% of Gen Z are using as their primary search engine. And whether or not brands are there, their consumers are in their consumers start posting about them, whether they like it or not. So it's a very salient point. How do you actually track that and reward that behavior within the TYT platform? Yeah, of course. So what are tech does is through a TikTok API, verifies that this user, TY BID. So collectible holder within kind of our world has posted. And so we're scanning every two to three minutes through TikTok and buy brands. The brand has to go essentially creating an API, and then our tech scans for that action to happen. And I mean, it sounds simple, but like we've introduced it with two brands now, and it really creates this flywheel effect. And on the user side, you're like, oh, I'm actually earning something for this. Obviously, in the creator world, people are being paid, but really what's cool here is this broader kind of more democratized view on community can start to happen where anyone with a phone can join the community and start to get rewarded for that promotion. And we're really seeing kind of the lightweight nature of that, start to take off. Yeah, and I love sort of fusing what's happening in the world of web three and being able to verify that ownership with platforms that actually have scale, like a TikTok so you can sort of marry those two things together, which is obviously critical. Your model, I think it's all about the 1000 true fans model starting there and continuing to grow. On the sort of audience component. Currently the sort of degen or crypto native audience still feels primarily male when you look at all the research that's out there for any folks who watch the recent de gods NFT Paris video with the shoe. We know that there are women in this space and there are female founders like yourself. But I'd love to hear more about Gen Z, which seems to be one of the core audiences that's interesting to you and interesting to joggy. What do you think are the alignments? Would that audience and then what do you think are the challenges? Because many of them may not be the sort of core crypto native folks who are populating other NFT communities. Yeah, I mean, what I get excited about is the idea that TYT can really be this pioneer from a value creation standpoint for Gen Z by bringing brands that they love beauty brands, Activewear brands, et cetera, into this space without it feeling like the crypto world that we know today because there's certainly a version there. And so you'll see, as you start to play with the different brands that are on to IB, we've very much obligated any of the complexity or even terminology away from the platform and the use case and very much focused on collectible why you want it and what it unlocks for you. And so just tied back to outdoor voices, we had this blue doing things hat and you could only get it in the early and ends of the brand by showing up to an event participating in the mission and then you earned your Bill doing things at. This became a symbol of your belonging to this community and a souvenir essentially for your participation. And so very obviously to me and to us this collectible of a brand does just that. But now it's digital that's in wallet and then elegantly unlocks perks. And so just being very much a brand person, I and we have definitely not made our experience look and feel like the crypto world today and I think that's important as we start to or have the intent to onboard the 99% of people who don't have a meta mask rainbow wallet or any experience in crypto, though have the potential to really over time recognize value for this new way participating with brands that they love. I would love to get a little bit deeper into actually what you're building because I think when I was talking to Bianca partner, we sort of talked a lot about white label solutions and how brands don't necessarily want to build all of this stuff themselves. And you seem to have a portal which is one a toolset for brands and also two, a tool set for fans. So can you just tell us a little bit more about what you're actually building on the back end? How brands can participate in the system? What is that onboarding look like? Yeah, of course. It's quite simple. And the Nike dot swish and Odyssey Starbucks programs have been really significant tailwinds for us. Essentially, you know, in creating the demand and helping brands recognize that this is the future. And so there's really three kind of simple stages. There's onboarding. And so every brand gets a brand page or
The Defiant - DeFi Podcast
"degen" Discussed on The Defiant - DeFi Podcast
"Different apps. We're looking at showing your voting record on daos. So that you have one and we're not the only ones working on this in the space, but this concept of building a profile around your interactions and web three will build up reputation, which I then will allow you to do more trusted things like loan money to each other, or give people opportunities based on what you know, what you know about that person. You are speaking about standards before and it looks like this is definitely a place where you would need some sort of web three credit score, right? Like something everyone could agree on. Yeah, did degen score, right? For DeFi. Yeah, I remember. And so people don't realize this, but you actually have a couple hundred credit scores right now. Like everyone knows their credit score for getting their mortgage, but you actually have dozens if not hundreds of credit scores. And we think that in web three, you're likely to end up with dozens, if not hundreds, if not thousands of different credit scores. So I actually, I think that there does need to be some sort of standard around what is a credit score look like or what does it mean? But I actually also think it's fine for a lot of different people to create their own types of scores around this information and then just publish them publicly and then have the aggregated back and to some sort of profile, which we think would NFT domains a pretty good fit for that. And we're trying to make it easier for people to do that basically. If we're fortunate, then we'll be able to make it a lot easier for people to verify information about themselves on chain, to a single identity, and then that single identity will be easier for everyone to look up against. And then voila, you have reputation on the Internet. What about just how easy it is to, if you're a non just if you did something bad or you didn't
What Bitcoin Did
"degen" Discussed on What Bitcoin Did
"All the magic happens automatically in the background, which is a massive UX improvement. You do also get additional privacy through tour integration into wasabi, so you don't leak your IP address. There is also no more minimum denomination, so you can coin join any amount and there's no more change, so any amount you receive from a coin joint is private. Privacy is something I've been taking a lot more seriously recently and with RB 2.0, this is so much easier. So if you want to find out more about this, please head over to wasabi wallet IO, which is W, ASA, B, I, WAL ET dot IO. Well, two points on that. Firstly, there are people who are definitely pro NFTs on Bitcoin who are definitely mocking the Ethereum people for NFTs a year ago. People have flipped their perspective on this for a selfish reason because they think it's good for them, right? And then they mock people. It's a hypocritical position to take. Fine, but it's a hypocritical position to take. I value their opinion less because I think their actions are more based around personal number go up. Sure. Then wider adoption and benefit of sound money for a wider community, like yesterday, we were making our show about, we've been doing a new three part beginner's guide, really simple one. And one of the questions we said is like we talked about why Bitcoin is good money and what benefits people. Well, let's now let's look how it's maybe different for people in the developing world because they have a different use case. And so I'm beyond the number go up now and care anymore. I care about the widespread adoption of Bitcoin that benefits people's lives. So the point I'm trying to get to is I'm not trying to be combative. I've not taken a position. I would argue that whatever side you take, I would argue the other side. So if we try and create sound money, if we're trying to create the best form of money, I have to at least kind of push back against this. And when you say it's here and we have to accept it, is that a 100% true, this can not be undone. There's no technical way to undo this. I mean, you can fork off. No, no, can it be done without a hard fork? It can be done with a hard fork. What you would need to do. With that one, you would have to have all of the miners agreed not to touch this stuff anymore. But the miners are now getting transaction fees. Well, so you don't always just have to have the miners, no two X proved that. Sure, okay. And what I'm saying is, therefore, the point I'm trying to get to is I'm not trying to argue against you and have the debate right now. What I'm trying to say, the debate isn't settled, the debate might go on. If it got to the point that it may get to a point where there is a debate about actually, is this good for Bitcoin or not. And if it isn't, is there a way of getting rid of it and will people get rid of it? Yeah, so the way you could get rid of it is if you had a bunch of users come together, a user activated saw fork and say, we are going to censor and not acknowledge the existence of any ordinal inscriptions, which we can. It could be done. Which is exactly what happened during the block size wars. And largely contributed to the failure. Of the halford. Yeah, but again, we should walk through this for a moment then. Okay, you have a coalition of people who want to ban this. One, this is also not going to Pete Rizzo about this. He calls us the degen's paradox. I think we have to be careful with language here.
Tech Path Crypto
"degen" Discussed on Tech Path Crypto
"Here that if this does hold the position, it would make a complete, this would kind of create, I think, almost a new ecosystem out there for investment around Bitcoin, especially through something like kind of like lightning but lightning doesn't have a token. Where stacks does. So that in itself is unique. The coming together of NFTs in the Bitcoin network brings more security transparency traceability, stacks ability to leverage blockchain, security for settlement of transactions position to the network well for developing. Bitcoin decentralized finance would be a huge move. So again, love to get your feedback on it. If you guys think this is something that is going to stay around for quite a while, just to look at the charts real quick. By the way, we have a new DJ in our studio in the crypto pit. I'm not looking at him right now. But he got a chance to jump in on Matic made a nice run. So congrats to a new degen that has entered the crowd. Welcome to the crypto pit. Now let's get over to stacks and see what everybody else did. If you take a look at sex, as I said, we just put it into our CPI. And of course, for a little bit of reason, we don't have a lot of data on this. This is the daily right here. Obviously, on that green candle kind of spiking up there to around almost 90 cents today, so we saw some action. As I said, if you were following me on the mastermind, we've already, I've already done a sale on this one, but it is something that, you know, we play in with a lot of these new entries like this all the time. These are high risk that we do not recommend investing in. Because we don't give investment advice. But I play with them and these are the things that we research and that we look at on a sentiment basis, for sure. All right, so let's jump over to a poll if we have one. Let's see if we can get one. Up, it will stacks continue to rally due to the NFT going. Yes, it's over, 57%. Okay.
The Bitboy Crypto Podcast
"degen" Discussed on The Bitboy Crypto Podcast
"Goldman Sachs just making money off the retail. Robinhood guys, like, oh, I'm trading on alpha because squawk box said this. Yeah, it was a good chance. Come to a conclusion on Thursday. Okay, Jacob's world. Yes, I've seen, okay, that's a bad way of telling that joke, Jacob, what'd you say is, you know, who's your favorite skateboarder? Oh, God. I mean, I want to say Sean white just because he can do so many different things with Tony Hawk's the goat. Do you ever see his brother skate? Yeah. Yeah. They're really good. All right, Bitcoin price were traces from $25,000 ahead of U.S. FOMC minutes release. Is there a big fall gunman that continuously trying to reclaim that psychological level many times in the last few days, but and it did hit 25 one 26 before it started retracing two lower levels. They witnessed a reversal right from the 200 week moving average, a strong resistance. If the price closes this week above it, that is a massive bullish rally that could start. Interesting. Lee, the same level will fully eliminate bears and bulls will take over the trend. With market sentiment, highly bullish and China reportedly backing Hong Kong to become a crypto hub and several crypto exchanges planning to expand to Hong Kong, Bitcoin prices can likely Riley higher. This makes me think I saw a tweet China bans Bitcoin at 60 K, China opens up Bitcoin at 22. I was going to mention the same thing. You know, and it was like, it seems like they're playing like ten D chess at that point. You know what I mean? They're holding the retail from getting in those all time highs and then open it back up to their market in Hong Kong, their financial hub, right, as we're at the buy zone. It's pretty interesting. Yeah, I would say probably a capable leader, you know? I'm not talking about the guys ethics. You know, I wouldn't trust my wallet around, man. I actually I probably would because he's technically maybe one of the richest people in mankind's history. You know, you won't see that and it won't say that, but when you effectively control the whole country, you kind of just are. They seem capable. As a country, they're the countrymen. They seem capable. And so the fact that they're opening up at the lows, they're banning it at the highs. You know, maybe that's a bullish scenario. I read it as a bullish scenario, maybe you don't have to read it as a bull scenario. Drew to you is that a bullish scenario? I mean, I'd see a massive amount of money in Southeast Asia and the mainland of Asia that's been held back and crypto face says without China's money, we don't get a new all time high. Yeah, and when it comes back, it comes back violently. They've been held back from the asset for some time and you have the media narrative that you can't get it and it's just teenager syndrome. They're going to, they're going to get it. They're going to get it when it's time. All right. All right, Bitcoin dominance reaches critical level. So when altcoin season, so when altcoin season, they shouldn't have had the H there, right? Just go full degen. The dominance measures, the market cap of Bitcoin relative to the total market cap of crypto. If the dominance is rising, it means that the Bitcoin share is increasing. If it's falling, the importance of it is decreasing.
Decrypt
Founder of WallStreetBets on Reddit Sues Reddit
"1 a.m. Monday, February 20th, 2023. Founder of Wall Street bits on Reddit Sioux Reddit. Jaime Kaczynski, who founded the now iconic subreddit for financial degens, once a court to reinstate him.
Ethereum Daily
"degen" Discussed on Ethereum Daily
"A daily briefing on the latest in Ethereum, pneumo and introduces power tokens, arbitrum releases nitro node version 2.0 .10, feeling launches its second bug bounty contest and degen score opens the degen score cafe. All is more from eth daily starts right now. Arbitrum based leverage protocol new moment introduced power tokens defined as leveraged tokens that provide squared leverage on any token. According to pneumo and power tokens on the protocol offer full autonomy permissionless markets and slippage free redemptions. Users can take on up to 16 X leverage with power tokens, power tokens rebalance at every price to the power of two, resulting in a quadratic payoff. Unlike most perpetual platforms, power tokens are not synthetic and instead represent a claim on underlying assets upon redemption. The LP like model allows users to post collateral without risk of liquidation. Pneumonia is currently undergoing its second security audits. Arbitrum released nitro version 2.0 .10 and upgrade to its node software, the upgrade includes support for RPC queries with the safe and finalized block numbers, which represent the latest layer two block, which has been posted to layer one. Nitro version 2.0 .10 also includes any trust IPFS node sync, various bug fixes and performance improvements. The new changes are meant to mirror Ethereum's state of block finality, although not urgent nodes are advised to upgrade whenever possible. The release is available as a docker image on doctor hub. Nitro was first deployed to maintenant in August of 2022 and provides better EVM compatibility, lower gas fees and faster transactions. Fee laying a new smart contract programming language launched its second bug bounty contest. The challenge includes puzzles that have been deployed in an unsolvable game state. The first hacker to successfully change the state to solved gets a price of three ether, a lock deposit of 0.1 ether is required for the challenge. The hack involves exploiting a bug in either the implementation of the game or in the fee language directly. Fee launched an initial bug bounty contest in December, which was exploited through a flaw in the fee, you'll and EVM compile chain. The book has since been patched and the entire challenge was redeployed. On chain scoring platform, degen score released the degen score cafe, a portal for tracking wallet opportunities. Users can connect to any Ethereum wallet to view claimable NFTs and early access programs. Current opportunities include the Ethereum kcd ceremony and the gearbox V two product launch the release is currently in beta and available to all users. DJ score is an identity platform that generates a score based on wallet interactions with the DeFi smart contracts. Users with a decent score above 700 can mint the Beacon, which is a sole bound token used to document a user's participation across DeFi. And lastly, DeFi llamas meta Dex aggregator has processed more than $250 million in swap volume, DeFi Lama launched its Dex aggregator earlier this month, which optimizes the best swap route among 8 different decks aggregators. The aggregator supports 22 chains and verifies.
Coronavirus
"degen" Discussed on Coronavirus
"A daily briefing on the latest in Ethereum, pneumo and introduces power tokens, arbitrum releases nitro node version 2.0 .10, feeling launches its second bug bounty contest and degen score opens the degen score cafe. All is more from eth daily starts right now. Arbitrum based leverage protocol new moment introduced power tokens defined as leveraged tokens that provide squared leverage on any token. According to pneumo and power tokens on the protocol offer full autonomy permissionless markets and slippage free redemptions. Users can take on up to 16 X leverage with power tokens, power tokens rebalance at every price to the power of two, resulting in a quadratic payoff. Unlike most perpetual platforms, power tokens are not synthetic and instead represent a claim on underlying assets upon redemption. The LP like model allows users to post collateral without risk of liquidation. Pneumonia is currently undergoing its second security audits. Arbitrum released nitro version 2.0 .10 and upgrade to its node software, the upgrade includes support for RPC queries with the safe and finalized block numbers, which represent the latest layer two block, which has been posted to layer one. Nitro version 2.0 .10 also includes any trust IPFS node sync, various bug fixes and performance improvements. The new changes are meant to mirror Ethereum's state of block finality, although not urgent nodes are advised to upgrade whenever possible. The release is available as a docker image on doctor hub. Nitro was first deployed to maintenant in August of 2022 and provides better EVM compatibility, lower gas fees and faster transactions. Fee laying a new smart contract programming language launched its second bug bounty contest. The challenge includes puzzles that have been deployed in an unsolvable game state. The first hacker to successfully change the state to solved gets a price of three ether, a lock deposit of 0.1 ether is required for the challenge. The hack involves exploiting a bug in either the implementation of the game or in the fee language directly. Fee launched an initial bug bounty contest in December, which was exploited through a flaw in the fee, you'll and EVM compile chain. The book has since been patched and the entire challenge was redeployed. On chain scoring platform, degen score released the degen score cafe, a portal for tracking wallet opportunities. Users can connect to any Ethereum wallet to view claimable NFTs and early access programs. Current opportunities include the Ethereum kcd ceremony and the gearbox V two product launch the release is currently in beta and available to all users. DJ score is an identity platform that generates a score based on wallet interactions with the DeFi smart contracts. Users with a decent score above 700 can mint the Beacon, which is a sole bound token used to document a user's participation across DeFi. And lastly, DeFi llamas meta Dex aggregator has processed more than $250 million in swap volume, DeFi Lama launched its Dex aggregator earlier this month, which optimizes the best swap route among 8 different decks aggregators. The aggregator supports 22 chains and verifies.
Call Your Girlfriend
"degen" Discussed on Call Your Girlfriend
"These questions. Explicitly getting asked and laying at the at the feet of again the algorithm with a capital t. and accountable a and they're always really careful to limit or to make smaller the claims right in that context and then of how much the algorithm helmust right but then in every other context. That's the selling point. And it's this really interesting back and forth where it's like. Oh we couldn't possibly. We're not powerful enough to do that. That's ridiculous this is just a reflection of reality. And then it's like you look at the sales pitches you look at advertising. You look at how it's being offered to you and it's the exact opposite it is. You need this. You can't possibly know how well you slept last night unless this watch tells you or your bed for it is undoubted. Undoubtedly true that there's an economic incentive for keeping people on you know on those platforms and so anything you can do to keep people interested and keep people going and there have been so many well-documented cases 'specially with youtube Talking about radicalization and how people get pushed further. Because you know you add. Trust me what. I was doing my dissertation research. I i wish i had kept better. Records of this of those processes because my youtube algorithm was absolutely wonderful bonkers. Because it was. I had watched so many videos about what. I was researching at the time. But it didn't even take. I didn't even have to search for anything for you. Know hillary clinton as rep kellyanne to be served to me within two Two degrees at it just keeps pushing you down that hole. Because that's the thing that keeps you there So i think you know they've been really. I think the the the sort of big tech. Ceo's have been really on speaking tours for the last five years saying no no no no no no no. we have no incentive. That is not what we do. We do not radicalize people. We have no incentive to do that. We are incentives would be to clean it up and have it be a nice place and i think it's a both end. I think that's both true and untrue. So you know well their incentives to keep people using the platform as long as possible. And how do you do that. You give people more of what they already want. Exactly exactly I want to go back to this idea of evidence and lake. Think about it more. In terms of things that might be socially or politically closer to home. Yeah like we are not in a sort of target demo of reptilian. Hillary or like even or even i would say like some of the more conspiracy minded narratives about the vaccine like kind of firmly in a social group and of a political persuasion. Where we're not getting served that what about stuff. That is closer to home. You know things that feel of this same ilk but are more directed to you Do you have any. Do you have an example in line from to say one word. Yeah adapt degen. Yeah well that was an apology. Dear listener for that. You know. I think I my first instinct actually was like well. What i have noticed is that it's i've had a lot more conversations with people in my life that were vaccine hesitant than i would have predicted And that tends to come from a sort of wellness supplement direction rather than You know a radical mistrust of the government. So i think there is so much so much. Disinformation about wellness trends and the hard part is right..
The Ultimate Health Podcast
"degen" Discussed on The Ultimate Health Podcast
"All kinds of stuff. I wouldn't let that damn test. Tell me. I couldn't eat bananas and lemon so i was like i know by going to tell me. I can't eat a lemon or lemon and something you know but but but daring gluten. Where the really big ones and so that cut out all sensitivities that showed up on the test and then and then years. After that i went. I went paleo and said it was no grains no beans and i pretty much cut out any kind of any kind of really sugar other than maple syrup honey or coconut sugar for your baking because baking stuff is just like just kinda have to coconut sugar. I'm the same botas. Eos sugars so. I can see how in racing diet would make a big difference like being able to focus having the energy for a long race but when it comes to fitness and being fit. How big of a role would that play like. People that are racing at a professional level. Your colleagues at the time. How much does that matter being. Physically fit to be competitive matters a lot. I mean because focuses so horton that one. The body goes. The focus goes because it's distracted and I'm sure there's chemical and hormonal things happening to so it's really it is really really important. Let's talk about adopted jin c. Brought those up something. I'm a big fan of his. Well what do you take. You take okay and we'll get after but yeah talk about where you're taking and how you go about taking them because they can be in capsules teas tinctures. Lots of different ways. You can go getting them in. Yeah it's kind of. I've had shift recently In doing some of my own sort of lab work and some things that i'm dealing with as i get older like shifting my adapt degen's i used to just take i would just take like fifteen of them. I mean every all the mushrooms we had porta. Ray she Lion's mane.
Sessions
"degen" Discussed on Sessions
"Listeners. Just hear them you know say nothing say check and fold. That's the only two where they're saying. No offence to people who are playing it just. It felt right to talk more with nicole on this day. And all you can do is what feels right in any situation in life in a new job. In anyways time flying it was it was a good time and Show ended in. You know. I talked to ryan like i do every show and then walked up. Say goodbye to nicole and then walk down those stairs and get my phone and there's always a lot of messages on there because you know i haven't been on it for over five hours and then i go meet a be funk in moose the bar so no no garn moosbauer brought be funk this time and Basically i started again is what i did with these. You know i wanted to do something for the people who were supporting my content so i built platforms and create a community. And it's been this really amazing thing and it's kind of like a gang right like people have people's back everywhere like not even just all across the country but across the world in in other countries and you know it's it's getting bigger all the time and it's a gang of people that you can trust a gang of degen's with heart gold and in this case the two members that are meeting here are young hippie luck box that's moose in a toilet salesman that be funk. Those are their professions. So has some grab a bunch of beers. Go upstairs order some food. Let them bring it up. And i need to decompress again. You know. it's the third day on the job and we talk about whatever and then again when we've had a few beers and i had. I think i got my italian sandwich again. Just because it's so good. And you know i. I've heard there's a minute there's many amazing things to eat there but just want to keep it simple for now and now it's time to play some poker again and the three of us go head downstairs and go into the poker room in the crystal room. And you know we're gonna play five five. My role is getting very small. I just came off stake in. Doom switched course and play. Some five will turn it into five ten and hopefully fare. Better than i did the night before. Well that game is full or those games are full. And there's a five ten going in its heads up and it looks pretty nice to me and so i said let's just go play five ten and this is really me thinking with my dick if you will I do need to win money. I need to come up and obviously you can do that. Better in five ten which will become five ten twenty..
Dr. Jockers Functional Nutrition
"degen" Discussed on Dr. Jockers Functional Nutrition
"Try out today and then You guys also put in different superfoods and jagged talk about alabama as well shown to in order to elevate the the alcohol levels. There's only so much. Alcohol will get on that i serve primary fermentation so was sort of a ongoing secondary fermentation that often is just a comic All of our Everybody else who would make it hard kabukicho to elevate that their alcohol was added more sugar more yeast and just keep that fermentation going drink. More alcohol we've taken a little bit different approach and our with ours. We actually infuse it with adot degen's So i'm sure you could speak Elegantly about different adopt degen's and what those are But they come in different forms. Be those roots or tackles different varieties If you want to share with y'all adapted jin's basically without actually needs. Help adapt your environment. We'll take a thermostat so if the outside temperature is eighty degrees but she wanted to be seventy reason your home. It's gonna turn on the air conditioning and cool that home environment. If the outside environment sixty degrees controlling the heat to get it up seventy degrees so your always trying to create balance balancing your immune regulation balance in your blood circulation balancing energy production and this is the great thing about these herbs they have compounds called turtur. Paeans tannin's different things like that that helps modulate or balance our physiology and this is what's allowed these herbs in these routes and different things like got to survive all the different geographical stressors all the different microbes. That are trying to eat them. The extreme heat sometimes extreme cold so all the geographical stressors plants or adapting to them and then when we consume Those compounds they confer those benefits over to us. You have things like gin and oshawa gonda and rodeo line. These different herbs that are renowned for their ability to create balance in the way that we experienced that balances better energy better mood Sharper thinking process better. Memory improved sleep quality better..
Far Away Fan
"degen" Discussed on Far Away Fan
"Like very personalized. So yeah. that's how we that's we met him. So what does it mean to what has brought to you in your life since a community. Right i've seen at the habit. Happiness moments the sad moments as well but Get into experience. The games with other fans who who also support the same clubs especially the last four years. I've got to do the podcast. Got to meet meet and talk to people from all over the world You get a sense of community that the world's maybe not as big as you think And there's a lot of people who have similar similar likes and dislikes as you do And it's just Makes you feel as a human race. That was much closer together And so the sense of community At least with the shocking committed so tight it And be able to have a moment with them as a great experience. You know and they help you when things are Rothen when things are going well everybody's sports each other so Yeah the communities. Been the biggest thing for me. I think Which i never would have thought you know as a as a young sir a fan of sports that that's what the end result but for me. yeah Experienced the same motion. Sony people from around the world that you know i. It doesn't make you feel like we're so small anymore or still is a big place. It's like we're we're all basically neighbors or just a little bit further apart than others richard. Thanks so much for coming on. Hey thank you man. It's always fun to talk about football. Yeah great speaking to you. I hope you had some fun. Absolutely yeah had a lot of fun. I love talk talking football. But it's it's roy fun talking with you man. I'm glad we did so. Thank you thank you for having me on. I'd be hitting you up for some men. Your i love the. I'll try to do my best buy that. I love the set up that you have for both the podcast near the graphics. Anything it looks really cool really slick and then you guys do took several years to get to this point. you know. we're all in the same. We're on the same journey. Just different different points of the journey right so i was in your near boots several years ago. And then eventually you'll be my position with somebody else in your position so we're all constantly learning and try to just to limit better every time right and so Yeah anything. I can help make on due to help is absolutely my pleasure. Thanks thanks again. Degen thank you. I n take I got the new football manager. That's what it was a sort of the game with that with chaka on there. So i wanna put that on the youtube page. You doing any better than shockers actually. I'm doing a lot better cheese..
KTAR 92.3FM
"degen" Discussed on KTAR 92.3FM
"Attended that ceremony here in our state 6417 new coronavirus cases and one new death were reported today. The State Health Department also says more than 12,000 new diagnostic tests were reported overnight. We are beginning to see a decrease in the cova 19 testing positivity rate. Chief medical officer Scott Anderson, with banner Health says Make no mistake. We're still in the middle of a severe outbreak and our hospitals are very full when patients they're hospitalized for covert 19. They are extremely resourced abandoned. Our average in patient is in the hospital for seven days. Our average ICU patient three weeks, Anderson says. Your risk of covert infection is higher now than it any point during the pandemic. What did the common cold and covert 19 have in common antibodies? We don't know if that's a good thing or bad thing yet, but we know it's there. Katya Years, Peter, say more joins us Live with the story. Wrecking the old antibodies could boost immunity to the new disease. The potential for it to be bad is it somehow that response is distracting and it instead of being perfectly tuned to the new virus. It's kind of hung up on the old common cold. Current viruses. T Jen researcher John alternate studying six coronavirus relatives, including two deadly ones that ran through the Middle East and Asia. In 2003 and 12. He's hopeful the antibodies will be the Achilles heel of covert 19. And more. If there's another future Corona virus outbreak or despise mutates in some way, these conserved regions may be really important. Developing a broadly protective response. Alston's lab is isolating the antibodies to learn how they'll work because it's shared between all these family members. All these cousins of the virus had this region constant, which suggests that it's hard for that reason to change the fact that the music's miss recognizing that could be good news. How did out on Auntie Jen make the discovery? We made this discovery by profiling the antibody response. Against this virus. Instead of looking across whole virus. We reach up the virus up into tiny little pieces and profiled the anybody response against each of those fragments, and we identified a few of them that were actually very similar. Looking to the fragments off common cold coronavirus. Jen is developing a blood test to determine which common cold antibodies we already have. If they work, Alton sees great possibilities for covert 19 treatments. Many of us better Regeneron, another approaches that are monoclonal antibodies they get infused into sick people and in some cases can be protective. This may herald a new class of those monoclonal antibodies that is more broadly protective. It could also boost convalescent plasma treatments. When you take plasma, give it someone who's sick. You really don't know what's in there. It's kind of a super things and so profiling these anybody responses in some detail will help us to sort of disentangle that suit and understand what if anything, in those mixtures is actually protected. And these prima It's good fight coronavirus mutations, too. But again, the research continues Becky Peter Halley's teach in collecting the blood samples to test for the antibodies. Degen is recruiting citizen scientists or recovered.
WGN Radio
"degen" Discussed on WGN Radio
"Joe. Hey, Joe, You're on bookie check. Hello? Degen duty area again. Thank you. What's up? Well, we've gone back to the older listener. Now I You put a breath of pressure back into the am bandit knight. Thank you. Thank you for him, and I'll be extra am Yeah, then, Janine, I'm still working part time. Really where? Yeah. What's wrong with my social Security check next week. You want Rollie have really done a great job at that station. Thanks. And I know you think you got a bit too. I know she knows a lot about radio to Oh, my God. I was a guest on her show one night. I couldn't believe it. I know I heard. I mean, I know nothing compared to what she knows. I mean, I I have some friends of mine. Who had a vast radio knowledge, and, you know, we should get them all together. One time I had some sort of contest because it could be in a man that was pretty extraordinary. Thanks, Joe. Seven stations over the years. Uh, e. Yeah. Oh, no, absolutely. That's the way it goes. We didn't want him. That one feels. You know why I quit broadcasting? Why remember that one? Why I quit broadcasting? Yeah, thank you. Wi Cube. Thank you, Bob Or Joe. I appreciated now We're gonna go to Bob. Let's go to Bob. Hey, Bob, you're on bookie. Check on 7 20. W g n Never There there, John. Alright. I'm another old person. But I am in junior high teacher, so I don't know. I covers both. Yes, Areas covers all bases, So I ain't yes. Hey, I actually saw you a number of times. Then you did a remote at my high school back in the seventies. One high school, uh, gone out force you high school in Arlington Heights Forest view. Yeah, I'm getting a big memory of that. Yeah. It was like I don't want to read a team of the week or an assembly program or something like that. Was an assembly program was Was it like on the marvel of found or something? I don't remember. Hold II don't remember. Well, thanks for calling Bob I've read. No, I want to ask you something was all stories you have in your life. Have you ever thought about writing a book? I mean, her can't wrote a book about his memoirs and things And I mean, you don't know what some of the great DJs like beyond and everything else. By Bob I've had a book out for, like five years. It's all right, darling. No, no, no. It's called records truly is my middle name, Original title checking out instead. I e. Do what I do. Remember that. All right. I'm on it. Okay. Thanks, Bob. Let's go to Griffin. Hey, Griffin. Hey, John, what's going on? Well, I will. Yeah, I called for a jury. Yeah. Friday Earth because they know you probably have other callers. I'll try to go see? Oh, you're in the eighth grade. You could take all the time you want. Okay. Done. Well, first of all propped up Drop the Luke. Nice. Have some other younger caller here on CNN. Bionic. Oh, that's right. Yeah, And I originally calling because I actually Already listening on a new Ara. I 30 listening on a new radio, and I'm really happy about it because I used to do a combination of listening on a weather radio and streaming it and it's kind of inefficient. So I'm happy to have Ah. Radio with a good reception of both the AM and FM band, So you're listening to us on an AM radio. Oh AM FM. It's like it's a very old it also. It's also a cassette player. Uh, my dad had it because I I purchased the radio on Amazon. It was horrible. So I returned it. Yeah. So now I listening on this older radio that I found that has a cassette player. Get off your complaint is that I'm not calling rally games about the, uh tonight or at some point because I know she's good at that, too. But I also wanted to call you. So do you have any consents? Do I know. I think I'm too young, but I think my dad does when my mom well yeah. Go get some. You know, my producer Tom Hush. He has a vast record collection, and he did not have a cassette player. Although he had, I guess, yes. So I bought it for Christmas. Some piece of cheap some piece of cheap crap off of Amazon for like 30 bucks, But you know what works. No, I'm saying, yeah. Yeah, Work I the one that I got off Amazon. I had to return but because the perception was bad, but like, I don't know why the older one works better. It's kind of a home. That's a good question. I'm sure we've got some engineers at WGN. You could answer that. Be private, because Yeah, probably because the old ones cared. You know what I mean? I don't know. That's just my it was. It looked like it was made cheap. You know, That's why I like the other one that I found. Yeah. Right. Well, thanks, Griffin. Keep listening. Thank you, Colin. All right. Keep rocking. There he goes. I'm John Land Decker, and you're not All right. Thank you. Hey, Prague speak. There's a blast from the past. I don't know if anybody knows that is what did you say? Prague? I can't go along with that. All right, go away. His nice. It's nice. Very nice. Uh, my sister's number Hope, uh, John Land Dagger at 7 20 w g N 31 to 91 7200. Had a couple of more minutes left in the bookie. Check of life. If you want to get on the air, communicate telephone call you coming up after a 30 doctor here. Jeffrey Coping, chief medical officer.