hello does shame welcome to DC roundtable 77
I've just started authorizing some speakers and co-hosts so first of all L.D. Doreno can you just mic check for me
you are muted unless you are broke already three minutes and
okay just give us a couple of minutes guys maybe I'm sorry
can you hear me that's great awesome I was worried that you talked again already
hello Jack yes can you hear me
I can't hear you man let me let me leave welcome back
can anybody just give me a thumbs up on the emojis or something if you can hear me
is the space rugged or is it just L.D. Doreno
so penny bags looks like you're saying that you can't hear me yeah awesome okay all right okay guys thank you awesome right so the space is not rugged
that's a good start it's better than last week when we had three rugs in a row from the space so we'll wait for L.D. Doreno to join back
and then we'll pick things off
all right okay L.D. Doreno I've given you the rights you hear me yeah
can you hear me yes all right let's start with this then
that was classy i like it all right that was the Dave Brubeck
with the blue run of ala turk one of my seven year old son's favorite tracks
you are very complex uh complex seven year old man
yeah he likes jazz for some reason he likes like
he likes uh jazz and he likes uh exotic instruments like uh kalimba
like uh steel tongue drums uh stuff like that
you know xylophones and stuff like that he's going to start learning piano next
year but in the meantime he's like he he he likes
music he likes instruments and stuff feel like your kids are gonna grow up very
cultured you you own the restaurant for a bit as
well right so like they'll grow up probably really
really well culinary as well yeah i always cook at home
and uh they they're interested in learning on how to do it they already know
you know the main ingredients that you know you need to put
onions in almost everything if you want it to taste good
stuff like that and uh you know they they they understand the basics you know
seasoning albino's restaurant was called the onion house if anybody was wondering
onions are are really important they got they got layers
yeah this uh it's been an exciting week by the way in crypto in general
we last friday when we were talking we were we were
struggling with 50k mark for uh for quite a while
there was like a certain resistance on bitcoin there
for um for you know a couple of weeks from 40 to 50 then back to just back
under 50 and we weren't expecting it to to just
jump to uh to above 60k just just as soon as this
you know some retracements many analysts were
expecting retracements but once we were above the 58
point uh it's you know it's free money and it's going to
be uh as free as uh as ever this time around uh
but what uh i don't know if people are actually aware of course everybody's
talking about utfs causing this uh there's more demand than supply uh
but this is just one of the things that's happening
uh same similar thing happened to uh to doge
actually much much better things happen to doge it's now
right now it's like one of the biggest gainers on the weekly
with uh 60 percent i think uh and above 13 cents
that's still a long ways uh from the all-time high of like seven
70 cents uh compared to bitcoin which is really actually close to its all-time
high of 69k uh which means that uh yeah doge still has a lot of room to grow
uh yeah interesting week exciting uh yeah for sure i think what just while we
was talking about the etfs i think it's worth highlighting the situation there if
anybody's not following this particularly well so just
just to kind of set the scene here as to why we're discussing this is
because when we have these crypto cycles it
seems to come around every few years bitcoin
generally leads and then as bitcoin starts making new highs and gets the
world's attention again and people start looking for other
opportunities and this is when like you know uh people
the sort of effect trickles into the alts and the meme coins and that kind
of stuff and that's where you get this like
you know these the crazy gains that people shout about all the way through
the next cycle so um so the etf thing is really
interesting right so um there was um a few things that i'd like to
mention about this quite interesting is firstly
blackrock's bitcoin etf has been the the first
the fastest etf in history to ever get to 10 billion dollars in assets under
management which is pretty incredible to be honest um
and uh i don't think was expected by most people
like people thought it would do well but i don't think people think it would
do that well that fast and to be the fastest in history
is pretty incredible and it's not the only one right there's also a bunch of
other bitcoin etf some of those over time will
probably cross the 10 billion dollar assisted management mark as well which is
which is awesome for the space um so one thing that's kind of illustrative
of that is the mine supply versus consumed in etfs
so so in the past what people used to do is
they used to look at how many coins of left
coinbase or not just coinbase but the big the big exchanges as an indicator of
like where the supply was being bought and then
when it when it left the exchange people assumed that then it would go to cold
storage you know into people's treasure and ledger wallets and so on or on cold
cards um and in this case uh the leading
uh indicator seems to be uh not um coins leaving exchanges but um coins
going into the etf so for example i think yesterday
or the day before it was 10 roughly 10 000 bitcoin
left for the etfs and only 900 were mined so if you think about that is 10
times demand to supply and that demand doesn't include crypto demand so that's
that doesn't include all the guys that bought
their coins on coinbase and binance and you know
buy bit and all these other exchanges and then send them to cold storage that
doesn't include those that's literally just the etfs
um and what's really interesting about this for those of you that are following
the the halving cycles is that you know in
april when we get the next halving that number will fall from 900 mined to 450
so then we'll have a situation where if the demand keeps up
then you've got 20 times demand to supply
and so that kind of explains why we've seen these explosive price moves
now another thing to note which is quite interesting about this is that
now people are already starting to talk quite a lot about the eth etf
so there's a tracker somewhere that i don't have to hand right now which shows
all the different firms that have filed for the eth etf
and um their deadlines so the scc gets like
kind of uh several deadlines they get like a primary deadline to review and
then they get a secondary deadline then i think they get a final deadline
to sign off or reject the etf and i think there's five or six eth
etfs that have been filed for so far and i think the first deadline the first
final deadline first one that filed is is may or around
may um and i think some of them range into
like september so i think it's really interesting because
the other thing that is kind of at play here is that
the firms that filed for the bitcoin etfs will have learned what the scc
wants to see in eth filings for crypto so a lot of the
concerns originally around who's going to custody the assets
how are they going to be bought and transferred how will redemptions be handled
and all that kind of stuff and because um black rock and all these other
firms they went through this process once
for the bitcoin etf which was the first ever crypto etf
they now have the kind of playbook of what the scc wants to see
to comply to get a regulatory client compliant product
and so they'll be able to implement that in the first iteration
whereas with the bitcoin etfs we saw several rejections as the scc give
feedback and then they'd adjust and reapply and so
i'll be interested to see how that kind of dynamic plays out
um because it's kind of different than the first time because they've got all
those learnings um so that'll be interesting and
then obviously the the situation then is as soon as you have the eth etf
um you know people can then uh traditional finance markets can then flow
into ethereum and ethereum is very easy for them people to
trade alts and all other kinds of you know different
chains and l2s um so just polygon and and dose chain which will be a cdk
chain by then um and so that's kind of interesting
like the trickle down effect basically of how that could happen
and how uh funds could flow into the space and go into all different
directions i think that's it's very interesting it doesn't it's
not a for sure thing um because it remains to be seen over
the course of this cycle if the trickle down effects of bitcoin
price going up and that affecting the rest of the markets
will happen this time in the same way that it happened last time because this
time you know the etf buyers they don't
really have access to broad crypto they just have access to
just the bitcoin for the etfs so it'll be interesting to see how
if that kind of plays out in the same way um
however um i think it's kind of you know really interesting
to see how this kind of like whole dynamic is is unfolding with the etfs
and traditional finance a bit into crypto
i think it's the sign of the broader adoption the legitimization of the space
as a whole yeah i agree with that uh the thing is
that with as you said like etfs holder etf holders
they they don't really access the the crypto market
like we do they don't go on exchanges on centralized exchanges buy
bitcoin or buy altcoins or anything like that
but they do drive the demand up for bitcoin itself
which means that eventually price goes up like we saw
a lot of people were like uh not very um
you know convinced that etf were going to be a big thing
although on these basis in the in the past myself jack here
and rock we said like multiple times that this
is a real industry changing thing because uh
institutions uh like pensions like 401ks that are now able to invest in bitcoin
this is a lot of liquidity going into the
into into crypto into bitcoin in particular
a lot of new money that we were actually not having in the past like two years
because even you know prices fluctuate in the
markets uh projects make gains projects increase
in market cap but what others lose you know uh
gets sold off etc but what we were analysts were saying and what we were
seeing on chain data data is that it was the same money
circulating within defy within uh centralized exchanges and defy
there wasn't really new any any new equity entering the market
which is understandable because you know investors uh
they want to touch uh crypto after everything that happened in 2022
you know ftx uh the binance stuff uh you know uh
not as if binance was banned or anything like that but
you know binance was under sec scrutiny uh
was uh under trial cz uh the whole terra luna debacle i mean
we saw a lot of black swan events much more important than and uh and
critical than what we saw in in 2018 when it was uh
mainly the icos just uh ragging everybody uh you know in a way it's kind
of good that we've had all this um like the black swan events because
it's cleared a lot of the bad outers bad actors out of the market the
the players that were you know doing shady stuff using fractional reserve
being over leveraged or you know doing other kinds of
like trading client funds and all this kind of stuff
it's good that those actors have been removed
from the market so that when we go into this cycle and the institutional
kind of demand and money flows into the space that that institutional
capital is not a risk in the same way that it was
uh previously because if for example if the
you know uh black rock and fidelity you know those companies if they'd have
entered the space in 2021 when the market was hot last
and they did produce these eccs it's potentially you know the potential is
there that um a lot of traditional finance
investors could have lost money in you know celsius terra luna um ftx and so on
and so and that would have been really uh brand damaging for the whole space to
be honest like for crypto as a concept it would have been very damaged
but now like the those uh kind of you know semi-ponzu schemes have all been
cleared out the space is a lot safer than it used
to be i think especially at like a large maybe not like a kind of um
smart like really low cap level there's still a lot of crazy stuff that goes on
you know cryptos still kind of like the wild west but at the institutional level
the big exchanges i think you know a lot of them have like got their act together
a little bit and have realized what can happen
um when they get over leveraged and so some of them will probably
play it a little safer this time although that being said
you know it's worth remembering that um we are
of course advocates of self-customity and that you guys
should all all be very careful as the market gets heated up it's easy to lose
track of the risks but whenever you feel like leaving
you know a substantial portion of your funds in an entity that could collapse
like a centralized exchange or a hot wallet that could get
hacked or whatever you know you've got to think about the
the shenanigans that have happened in the 2021 2022 period with all the
collapses and think twice about it and you know
opt for a good cold storage option or an exchange that gets audited regularly
you know like you know one of the um the u.s based bigger ones because they
you know they have stricter requirements and stuff
um so yeah uh definitely uh take custody of your own funds and be very careful
yeah back to dogecoin uh in this uh narrative
uh when we look at at what doge did last time
uh it was pretty much following the market
at the beginning and uh did a pretty big
increase at one point uh in the beginning i'm talking about 2021
here uh just to be clear uh so uh
we saw we saw it following like when bitcoin was was leading
the the way like it usually does uh it it did jump uh quite a while
at one point reaching like uh it might sound ridiculous to you
right now but it reached like uh seven six point nine cents seven cents
which uh it had been uh like during the bear market it had been stuck
for uh for a while there this was like an
incredible increase uh at that uh at that time uh i think this was like uh
february january february 2021 when when the bull market was starting
then it kind of retraced but it did it did uh
a good movement there uh like we're seeing now it did like
one thousand percent which is what 10x something like that right
uh which is incredible i mean doge has been around since uh 2014
i think 2013 2014 uh and for uh an already established uh
coin to to jump just to 10x uh in the beginning of a bull run
it's insane but uh then there was uh the eulon effect
let's not forget the eulon effect where we got like
that that initial 10x did another 10x uh where we went from seven to
70 cents uh to an all-time high uh you know
when everybody was crying for those to go to one dollar that didn't last
like uh always be careful if you're willing to take profits at
certain levels with meme coins uh it's it's important to see how they
they react to the market and they they they're very volatile they they can
gain make gains really quickly uh but there's uh
there's also a big chance that they they drop again
and you miss an opportunity uh so uh yeah as jack was saying it's
sometimes wise to have um some of your coins on an exchange
that you you wish to take profit on uh the ones that you're
you're in for a short term so that you can set up your orders
in case you know the the price just pumps
incredibly and uh the time you transfer your tokens you find your wallet your
hardware wallet your keys or whatever and you start
transferring and wait for the deposit and the price goes down
and you have your your hands and regret afterwards i should have done it
you know it's uh it's important to to uh to be ahead of the game uh
when uh when the bull market is and have a plan
in the in the bull market is is that uh some people
are are just never going to sell just because they don't want to for example
i never sell bitcoin i never sell bitcoin bitcoin is
is something i accumulate for for my children my grandchildren
over the course of time and uh i i never plan on selling
any for profit or anything like that uh it's i think that it will be a measure
of fortune in the future just like uh you know uh you have uh
uh real estate uh stuff like that it's already you know it's real money it's
not but it's not as liquid in the real world as
as as uh and uh as well accepted as these uh old assets are but uh
other stuff i do trade and uh i always have a plan i always have a plan i set
up this plan i you know you do your fundamentals
on certain assets you say this thing could go
like 3x this other thing could go like 10x
i am ready to take profits at 2x and maybe leave some uh
for to ride the wave until if it does i don't know 100x maybe
who knows uh this it's a crazy industry so you never know
what can happen but the most important thing is here is
i'm not going to give you like specific uh levels where you should take
profits it's to have a plan it's always to to to be ready to uh
to have a plan and and stick to it and not have hindsight regrets
like uh i should have held on longer i shouldn't have sold this early
just it's it is what it is you know yeah of course
i think from my from my experience um it sounds it's gonna sound crazy this
but just turn me out so like it's possible for coins to go
basically uh lower than you think they're gonna go and also higher than you
think they're gonna go and it being the same coin um over the
same time period you plan to hold it um because things are so volatile in this
industry and narrative can change and people can change their mind about
what's popular and memes can go out of fashion and stuff
so usually the best thing to do is just
dca into stuff and dca out of stuff um so so then that way you get kind of
like an average price over a period of time rather than
um you know some whatever you're feeling at that moment
like you've you've jumped in with half your portfolio and then you've jumped
back out again because you got worried about the market or whatever
it's usually better just to take a more measured approach with these things
it's going to be situations obviously personal situations or whatever where
you're going to want to get out quickly
um but i think generally speaking try to
be calm and and think about things over a long period of time because
you might be right on the thing that you've bought but wrong on the time frame
and so that can be an issue obviously um and then just accept the fact that
nobody really knows where the market's going to go
you know your favorite influences your favorite care wells they'll
they'll have an opinion they'll think they know uh but you know really it's
difficult for anybody to know with any degree of
certainty yeah sometimes you just need to get lucky and that that's that's the
yeah that's the bottom line uh you can
you can take moderate profits over time by doing
uh technicals and fundamentals but to make that you know 1000x uh
or 10 000x play you need to uh you need to risk a lot
and uh you need to get lucky on that risk it's a gamble
it's not it's not something that you can predict
to uh you know becoming a crypto millionaire overnight it's
not everybody succeeds it uh even like when we had uh pro pro the
doge on the show who literally became a dogecoin
millionaire last cycle like he admits that a lot of it was risky
and like he you know he borrowed money and all this kind of stuff so
it's kind of crazy to see um but like i just caution people to take a
moderate approach to things and even if you think you're 100%
right on something just always entertain the possibility that you might not be
because it's uh it's it's always difficult to get things exactly right
um yeah and so in in relation to doge as ivan was saying though um
you know because it's like very loved as a coin it tends to do these crazy moves
like in the previous cycles and what happens is as the cycle gets
later so as as uh the you know more and more liquidity has
been in the ecosystem for longer people get uh
more tolerant of risk and so they they tend to like you know take on more and
more risky plays and that's why you end up with these
situations where towards the end of the cycle
that the the meme coins tend to benefit from that
um because people generally are happy with more risk and so they go into
things like meme coins because they represent you know in a lot
of ways the riskiest parts of the space um sometimes the
highest return not always uh depending on what you've got
but definitely represent some of the craziest elements of the market and so
when people are looking for that high risk play towards the end of the cycle
that tends to be where the capital flows
so it's kind of an interesting part of the industry
yeah and about dogecoin uh usually until now you know it was uh until now
i mean in the past cycle it was still considered like
a very risky jokey coin uh but it has transcended that narrative
i think it's still the the lovable meme uh
original meme coin uh but we've we've we've gone way past
i think that narrative uh where dogecoin is just
that funny coin i mean major uh gainers have copied doge and
tried to uh to get to to to that level uh some some more
successful than others like shib like pepe uh but doge remains the the og
uh and uh it has also this uh how do we call it the lindy effect i
think that it has the staying power over this uh
an entire decade uh meme coin that that has remained in the top 10
uh by market cap regardless of new technology coming in
regardless of new narratives layer 2s uh you know uh scalability
anything it keeps this narrative because
it does over time transcend this idea of the original meme coin into uh an
actual solid solid cryptocurrency that that stands
at the test of time but uh this time around we might not
have directly the yuan effect we don't know
he might turn i don't know he might start accepting doge for tesla or
anything like that uh even though you know he he already
started uh supporting it vocally he he never said that he invested it in it
or tesla invested in it um he just likes doge he might uh you
know push it forward onto x as um as a payment crypto
but you never know those are not the things that are
are set in stone those are just speculations that we we can
expect during the bull market in the next year year and a half
uh but what we know is that doge has uh dojinos now and it does have
uh doge chain as a layer two as a scalable scalability layer and the
smart contract layer uh which add both add more value to it
as uh and uh allow it for uh for users that
want more from their cryptocurrency just to wait for it to to increase in price
so we we do have uh a bunch of new utilities coming with the dojinos the
drc 20 uh inscriptions plus doge chain uh which
are actually bringing some um a new narrative to
doge point where you can use it as gas where you can
plug into web 3 uh where you can ins inscribe inscribe uh it's uh tokens
on it uh using uh the cardinals or the dojinos
the drc 20 protocol uh nfts both on evm and uh both uh and on the dogecoin
network these are things that are are are only
starting to heating heat up uh as doge was rising last week i saw
uh dojino dogs uh their floor increased by by almost 50%
i think now there are like 2.2k for a single
uh dojino dog so what i remember a few weeks ago on the space when they were
like was a month and a half i think ago when it was a free mint
you remember you could be yeah i think it was too
free i think it was two mints per address or something like that crazy about
this industry like i've never even heard of an industry where you
can do something for free or just gas cost which is like pennies anyway
and then you end up with 2k or something it's just such a wild
industry like that it's like yeah as well that's another thing right like
what other industry like in the tech industry you never have like
just people giving away like when you buy an iphone you don't get like two
grounds of free apps you know i mean it's like a crazy thing
yeah of course uh that these it's uh it's a crazy industry
and the thing is that it's the market that decides how much you get
you know uh because uh if the market and the marketing behind every
project as well if the market decides that this
token this nft this inscription this drc 20
is worth this much it's insane how much you can you can get some some airdrops
uh might be worth theoretically millions of dollars but
they're worth peanuts and uh others uh are worth uh free
and uh actually uh they become millions of dollars
because the market decides to to do it uh it's uh it's uh it's a crazy industry
and i love being in it i love uh that people are actually sharing
this uh these new assets and are are actually
progressing and i don't know for for people that
joined uh 2022 like a couple of years ago
it's not been easy i know that uh i know how it was uh when people joined in 2018
for them and i told them yeah i know it's not going to be easy because
i've been here since like 2013 the 2018 was not easy until 2020
and then we had covid and but then we did have that beautiful
bull run and uh apparently we're we're slowly
but surely going into uh into another one here with uh with the five percent
gains per day uh it's is going to it's starting to get
interesting that's for sure uh one of the only industries in the world
where you can see that not nvidia not amazon not facebook is going
to make uh five percent daily gains uh for two
weeks straight up that it's just not happening
uh where uh whereas uh we in this industry we can see like five days
trade of 20 percent increase per day so yeah it can it
can get crazy but back to the to the narrative that
uh uh yeah doge doge is is is getting much much more interesting
for uh for also maybe not institutional investors but
it's not the the the the coin that goes into uh the
very high risk portfolio you know uh it people start to understand the price
action for doge they understand that uh at at
some time it is going to uh
to to pump to a crazy amount and uh you know dca up then that's that
that's what i i'd suggest if it if it's a uh a highly uh volatile then you can dca
up by less when it's uh when it's more expensive but you know you never
know what can happen the thing is that uh with the new
utility that we're giving to to doge coin with drc20s
and these drc20s being able to uh soon be
onboarded onto an evm like doge chain so that you can trade them easily
uh you know acts as a much more liquid market
uh doge is going to uh to gain much more demand in the in the next
in the next year i think and uh is going to get
interesting to to see how that ties in with the all the previous narrative
of of the meme coin and the elon coin and snoop dog etc and all of that stuff
once once you know the mainstream media starts middling in
and uh we we we start seeing the celebrities back into the market
starting to talk about doge coin etc i actually saw uh
the first celebrity endorsement i've seen in a while recently
which is interesting it was uh i think it was a rapper i don't know
which one um because i don't really follow rap
actually but um yeah there was uh some some rapper
promoted a coin recently that's usually a sign that things are
getting heated up because when you know when like people are
trying to get mainstream uh endorsements that's usually when
like you know a lot of people are noticing
but there was like tons and tons of celebrity endorsements in the last cycle
um oh yeah that was kind of what even that was like floyd may whoever i think
promoted something last cycle like he kind of scammed people i think i
don't know what he did it was it was a total scam i think i
didn't keep track but a bunch of uh celebrities got sued
for you know right like ponzi's etc
because they they were actually ponzis and let's not talk about
all the influencers that promoted like their own
ponzi schemes i think the problem is with the celebrities though they don't
understand the space it's not like they're like
i don't think they're deliberately trying to scam people they just don't
understand crypt so yeah for sure for sure they don't really know
what it is they're promoting you know the bigger the bigger celebrities but
then you have like uh like celebrities like matt damon
that uh people really killed for uh for
you know promoting the space in general what was it all right that was like a
crypto.com it was a crypto.com yeah so you know it's just an exchange so
and uh he got ridiculed because soon after like the whole market crashed and
yeah look at matt damon well people see like
people see celebrity endorsement as like a top signal don't they because it's
like when the when the celebrities when the influencers start singing songs and
then the the the the celebrities start endorsing on tv
exchanges or tokens or anything like that it's time to to put your stop losses and
exits guys my favorite top signal that i heard
recently was people talking about when coinbase is top of the app store
that's the best top signal because coinbase is you know primarily a
retail app um so that's kind of an interesting
one i don't know what you think about that yeah that's an interesting
that's an interesting one to keep in mind a good bottom signal is uh
bitcoin uh reddit subreddit the bitcoin subreddit
when it starts trending and it has a lot of posts
on it uh where you know there the the no coiners are quoting
about bitcoin going down and usually once it's
there's like a chart on i think it follows like this
he has like a chart on uh on on bitcoin posts and uh an engagement in the in the
in that subreddit and it gives him a bottom signal
on uh on us on certain levels uh and uh you know you know when when to to
go in me personally i have some uh some of my uh twitter followers that are
vehemently anti-crypto that uh i i have uh i have like in my circle
and i know that once they start gloating that's the time when you start
entering the market now they're silent so i think this could be
um the last time we really see that type of signal though because if this is the
mainstream adoption wave for crypto i guess they'll just capitulate
eventually and just start using crypto and buying crypto
you know like these are the kind of haters i think i think we're still
early i think we need another cycle when i see how
certain countries uh still misunderstand the technology
misunderstand uh and uh you should you should like
mainstream is tiktok is mainstream right uh if you
enter the comments on any crypto related tiktok video that's not
like an influencer speaking about their their stuff did you see the one
the comment that went viral it was an instagram
a tiktok comment where somebody had posted underneath the video about crypto
that the creator of bitcoin was short in the market that's why the price was
going up and it's like that doesn't make any
sense on any level like what the creator of first of all the
creator of bitcoin like what the guy that's been anonymous and that
hasn't done anything for like 15 years first of all like
that that's nothing and the second thing like
how can short in the market make the price go up like what are you even
talking about and that's that's the mainstream you
know that and that those types of comments are
everywhere like crypto is a scam it's just a bitcoin you don't understand
crypto bros are using this ponzi scheme just to scam you
and this is everywhere this is still everywhere it's not like
uh crypto has become some uh mainstream widely adopted industry
where people actually understand that these assets
are not controlled by anyone i mean some of
most of them uh that bitcoin is completely decentralized same goes for doge
they don't understand these things they don't even understand decentralization
as a whole they don't understand how it works
they they think that somebody somewhere is giving coins to somebody you know
that's what the most mainstream people understand from this industry and
it's pretty crazy considering that we've been around for more than a decade now
my favorite um thing to when like indicator that people don't know about
crypto is when they say um
when they talk about crypto and instead of saying
like you know this crypto or that crypto they say bitcoins
so they'll say like there's there's lots of different types of bitcoins
or something like that and when they say that i'm like oh god you really don't
get this sold in you know so like there's just no no
understanding they think bitcoin and then there's loads of copies of bitcoin
and that's about it it's like yeah we moved on from that
that was like that was like the first wave of crypto was copies of
bitcoin right the thing is well it's somewhat true
but yeah let's not get into that it's somewhat true that
people were trying to uh to copy bitcoin yeah in the
get their stuff out but that was like in the first two years
there was like loads of big i mean doge is a bitcoin
bitcoin uh copy right oh yeah yeah for some alterations yeah
that was like the first thing oh yeah that's yeah
it's interesting it's interesting it's it's it's pretty crazy to think how
still early we are considering adoption when
you hear even people that are widely understanding of tech
still do not understand basic stuff i mean the ETFs and stuff like that it's
not very basic because it does have certain
implications regarding institutional investment
into the industry but these are people that i'm talking
about these are people that already understand and for example
there are coders that are programmers
a guy that creates software for banks etc and
he still doesn't understand how this works it's
it's pretty insane to see that it's still a niche
industry and hopefully this way around when once you know
if bitcoin reaches like 100 150k maybe 500k like uh or a million dollars
like rock says uh you know things will start
going to to change but until then it's uh it's still an uphill battle i think
uh in the meantime web3 has progressed immensely in the last
uh couple of years well not couple of years let's say the last
five years uh four years when you see the the DeFi summer
of 2020 and what we had as infrastructure and uh
you know applications at that point you know that there were like
five apps swaps uh farming yield farming on three different protocols and
that was that user experience was this small uh it was
really almost impossible to get anything done
if you weren't really into this thing uh wasn't really user friendly or anything
like that LPs this LPs that yield farming here
yield farming there but you know only a very few people were
uh understanding of how that worked but since then not only did we gain
more understanding from and knowledge from from the mainstream
uh consumer but uh you know that providers have uh
have progressed insanely providing like a much better user experience
much uh uh protocols that are easier to use more secure
uh and uh intuitive for even the mainstream consumer
so uh yeah uh we are much more ready than we were
four years ago to uh to onboard the mainstream user into DeFi
i think we've still got quite a long way to go though like things like
um so you know most most of the ways that people interact with DeFi is
through a wallet like Metamask for example and when you add in a new chain
to Metamask you have to do like relatively easy steps
but kind of technical like you know set your RPCM points and chain ID and all
that kind of stuff and i feel like that's just something
that a mainstream user won't do so maybe i've been cynical um but i think
until we can get to like a one click system
um where you you have your wallet and then you just click where you want to go
and i point and click and it's just really easy like that
i think that that's kind of like where we need to like someone should
this is just a something i think um would be really useful but somebody
like DexTools or um DexScreener or one of these
aggregator sites should basically make a repository of
all the public chains and all the RPCs and the chain IDs
and have a button so that you can basically just
go onto this page and scroll down the list select the chain you want to go on
click it and it'll just automatically import into your Metamask
i feel like that's there is like a utility that somebody should do
there is like a thing that does this but it's not super reliable all the time
so uh yeah sometimes you need to do it manually
and all these the mainstream wallets like you know trust wallet for example
they're very very difficult to uh to use for different chains they they have
their listed tokens and that's it a lot of
people they they prefer not to use like 50
different wallets even though it's still kind of uh
you know obligatory if you really want to do it
if you want to be on different blockchains you need to the
especially if they're not EVM blockchains you will need to
install a new wallet and sometimes it's supported by these mainstream wallets
sometimes it's not it's it's still not there i agree that
we still have a long ways to go before
everything is uh is ready for the mainstream to
yeah for sure um i think like obviously you know the developer communities work
really hard to onboard more people and i think public spaces like this are
really good because it allows somebody to relatively
casually listen in um you know like just while you're doing
other things but then learn a little bit about the space as you go
and some of these spaces although this one's been more generally market focused
some of these spaces we get quite deep into the weeds on the tech side of things
like i remember one um well we got into the technology
behind dojano's wallet and there was this whole thing about like safety and
whether or not it was you know like secure and usable uh with
between owen and rock and that was a really good one because
um it allowed people to kind of learn a little bit about the things that they
should look out for and how to be safe in web3 um and
so i think the technical spaces are really good like that
they allow yeah speaking about that by the way it's uh
dojano's are not very mainstream oriented yet
they they're pretty fresh they what may 2023 i think uh
so almost a year but uh you know apis are not out there yet
for uh to to uh to make things easier
and uh the indexing thing is uh is uh quite
the let's say abstract for people that are not into tech
when uh when you want to transfer for example
a drc20 token let's say doji onto another wallet you uh need to go
through a pretty intricate process to make your
doji transferable which means that it inscribes some of
your doji with the doji that you own that so that you when you send the doji
it sends the doji that is inscribed with the doji
it's it's not super intuitive and easy to use for uh for uh you know the
mainstream users which is why uh we are
working towards this dojano's bridge ourselves where we
want to make it easier for people to uh to uh to transfer their
dojano's onto a more liquid and easier to use
space which is an evm chain like dot chain uh
where you need to do this only once and not every time
that you need to uh want to trade your tokens or
or anything like that so the the the idea is that
you transfer them onto dojane and then you can trade them on
DEXs on nft marketplaces etc you can stake them there
and once you're happy with it you can go back to dojcoin if you want
to but the idea is to make this process a lot
easier for people and allow dojcoin blockchain to uh to be
to actually exploit this new utility that that it has with the DRC20 tokens
nice um so i guess uh you had a bad experience recently
transferring doji so i don't know if you want to like go through that
to kind of educate people on the bet the best ways to do it and like how
some of the pitfalls maybe well currently uh the the pitfalls are so
once you the the the process is really complicated
to get started with i think your your phrase in our chat was this isn't for
noobs yeah more or less so especially not for
like noobs that bought their first cryptocurrency doj
uh with the usd on a centralized exchange
or robin hood for example uh they will need to one install
uh the doj lab's wallet then transfer that doj that they have there
then they need to find on the marketplace
uh a limit order for the token that they want to purchase
then they need to that process is not very complicated you find the limit order
you you click on it you see whether you have enough doj to buy it
and you buy the amount of doji that you want to
now if you want to sell it uh then you need to go into uh this
process of uh making that uh those uh those DRC20 transferable
which is a little bit abstract and complicated for first-time users and it
takes some time so you need to understand if you're not
going through like a tutorial even i had to go through a tutorial
i'm i'm i'm in this industry for more than a decade now
and i had to go through a tutorial to understand how this works
and that it you need to understand it takes time for example because the
index service is like a couple of blocks behind
uh the the the main the main net uh so it takes like 20 30 minutes
for your doji to become transferable then only
you can either list them as a limit order or transfer them
onto another wallet for example let's say gate
has a doji listed then you can transfer them onto gate
uh where uh where you can trade them for other tokens but it's it's a
it's it's not super intuitive that's for sure and
what we what we're trying to do here is to make it
easier to use uh ultimately
yeah i think that's so important like the the whole thing we're saying earlier
about um you know easy onboarding it goes
double for dojianals because they're like a niche
sex within crypto so the more niche uh your thing is
you probably have to do more hand-holding to make sure that people have
the right tools to actually use it
yeah that's right man that's right
i'm kind of losing my voice here just a sec
it's okay i think um so we we kind of decided to
do a shorter space this week um because we've both got a lot to get to
and rock is over in heath denver i believe
um oh yeah yeah right if you're wondering why rock is not here is
because it's at he's at it denver on a real world conference so uh
he's uh he's pretty busy there and uh that's the reason why he's not here
usually he doesn't miss any of these spaces but uh
we we miss him today uh anyway yeah if you happen to be listening from
from denver um see if you can find him in selo
yeah you can find him there on the floor somewhere i know it's a big
venue but uh i think it's pretty cool uh i i've seen some some footage already and
it looks very very well done uh like it is every year there was some um
doge chain conferences um that got hosted so it'd be cool to see
you know as you go into this kind of crypto summer period uh it'd be cool to
see maybe something like that in the future as well
um because i know like a lot we we did some real world conferences
and then there was also some virtual conferences via um
i can't remember the name of that app um but there was a
do you remember the name of the app when we did the virtual conferences they
were really cool um oh my god i forgot the name
i think we even did um it was inverse that was the name of the app yeah
that's right we even did a spaces from from the
metaverse one time uh in the little uh talking circle thing
yeah well we were doing the spaces on twitter but
uh a lot of the the community was uh in into in the in the virtual world and
sitting around and jumping around i i did some
some competitions as well i if i remember correctly it was uh
it was pretty cool they were great and um you know some of the
seeing some of the doge chain projects show up there was really cool i think
um just to shout out a few i think real doge punks had a poo
had a booth i think um uh there was there was quite a few right i
can't remember off the top of my head ivan i think rdp's definitely had a booth
um there was like i think there was like 10 projects showed up and had booths
there yeah there was a bunch it was uh it
was pretty cool to be honest it was uh we should get in touch with those guys
again and do another conference because i
think they did a broad polygon one and then we had the doge chain room
as well um that was really cool i think it was poly doge organized it with um
with polygons so that's that's something we should do again because i
think the problem with real world conferences
is you know the doge chain community is separated
all over the world you know like uh some of us are in europe some in
in the u.s some in in south america some in
asia and africa so it's kind of difficult for people to travel
uh whereas logging onto a metaverse conference is really easy right you just
you know just use your laptop well even if you're in america itself i mean
it's not like it's uh it's next door it's a huge country you know
sometimes you need to travel like 3000 miles to get to denver so
yeah that's true that's true uh so what watch the space maybe there'll be
more conferences in the future either virtual or real world
um just a quick update guys uh regarding
the polyhedral bridge i don't know if uh everybody this
that's on this space is uh uh familiar with uh what i'm talking
about this is like a multi-chain bridge from
different uvms that uh is integrating the doge chain
uh mainnet the the current one will uh we're uh in the last phases of
testing some uh uh the security of the of the bridge
like multi-sticks etc and uh replenishing the pools on each side of
every chain that will be supported which means polygon
ethereum arbitrum and bnb for their uh native tokens plus
usd usdc on each chain so uh yeah uh shouldn't be too long
we're uh we're in the last uh stretch and uh we'll keep you guys updated uh on
the regular on when this is going to go live
and this will be huge because uh it will allow
a lot of liquidity to flow into doge chain from other chains
uh uh moreover it's uh not a centralized uh
bridge like uh the multi-chain or these other
bridges third-party bridges that this is also a third-party bridge
so we're not responsible for for its functioning but it's
uh it's much less centralized than than the other
uh bridges that we've uh we've worked with before
uh because it uses zk proofs to uh to to release tokens on one or
the other side so it doesn't require you know somebody
signing for it or multisig or anything like that
multisig is for the pools but uh yeah it's uh it's a pretty big thing
uh and uh we'll be preparing everything for that
uh and the community so that uh you know how it works
and uh how to get more equity as as you know the market is heating up
there's a lot of new players that that try to uh
onboard onto the chain and it's very difficult for them because
it's it's very challenging to arb on uh to arbitrage on doge chain
because of the delay on our doge bridge which is
a security measure but uh still you know it's uh it's difficult to arb out
for example you want to arbitrage dc token
that's uh more expensive on quick swap on the chain
you buy it for example on uh on a centralized exchange
you sell it on quick swap but then you want to go out with your doge
to make profit and then you need to wait two days and the price drops
and yeah it doesn't work uh it has to be more fluid and uh
yeah this bridge is going to to add more uh
um you know fluidity and interoperability between the
the chain and more capital efficiency for the users on the chain
so uh it will be a big thing it's it's coming
nice um cool so um we've got richie guru up there i don't know if you want to
say any anything rich here i know you've got the speaker right
oh yeah by the way uh anybody that wants to uh jump in just raise your hand demand
speaker rights and we'll we'll bring you up if you want to talk or
ask any questions regarding uh either doge chain or what we were talking about
earlier feel free to uh to to hop on
i don't see the i'm not co-host by the way uh i'm just a speaker so i don't see
the request if there are any uh no not currently
well i guess that's it richie uh you you have speaker rights by the way if you
want to talk but uh i guess you uh
you're not super excited about that uh anyway
um two things to to sum up so uh bull market is here
it's it's definitely here i i mean previously we we were like
on the fence on saying it was already there
or not some people there there were opinions about it you know
but i don't think we it's a matter of an opinion there it's just a fact
and um it's uh it's going to heat up pretty pretty nicely in the next uh
next months uh so uh yeah keep an eye on it and uh
keep uh keep healthy and stay safe uh if you want to ape but always take
take your your precautions and uh make sure that you have your soft losses
good advice stay safe everybody self custody rules
and yeah good security is always real positive you're never going to regret
having more security i think
i'm just going to let penny bags up here in case you want to have any concluding
yeah by the way i'm walking through towards uh my apartment i went to get
some gum and uh i'll be i'll be there in uh in
two minutes so uh i can do a an outro song as well
yeah sounds good so penny bags do you want to take the floor
yeah sorry guys i just wanted to uh i just wanted to see what what's up with
that post on february 29th uh a little bit of a hint you guys are
dropping about uh the bridge also for drc20 do you guys
have any more info uh on it
oh we're we're working on it we're working on it together with doge labs
uh our devs are working on indexing the doge point
blockchain it does take a lot of time to do it because it's uh
it's a 10 year old uh blockchain so it has a lot of transactions
it has a lot of wallets on it it does um does take time so uh
we ask for your patience we we try to do it the fastest
that we can it's uh on our priority list together with uh
polyhedral bridge and the test net for the zkvm which is ready
we're just uh finishing up the documentation
and uh that should go out like next week but uh in the meantime yeah we're we're
working on the drc20 bridge and uh making it the most optimal that we
can so that everybody can uh can bridge in
their dogeinals and uh enjoy a liquid market because
as it stands now uh users are and holders of doge
drc20 tokens are have to wait for for centralizing changes to list them
or to uh successfully manage uh limit order like as if you were
you were selling an nft you know so you sell like
100 doji at this particular price and uh it's it's kind of a hassle for a lot of
people and they're holding on to see what
happens so once the bridge is on uh is on
and uh and functional uh you'll be able to bridge your drc20
uh whether are these are gpegs in inscriptions or just token inscriptions
on to doe chain to uh trade them on on a liquid market on texas
more importantly we should have also the polyhydra bridge running at that time
which means that people will be able to sell or buy
uh drc20 tokens with uh like stable coins and uh blood chips like bnb like
maddie uh eth so uh yeah uh i can give a precise timeline
because i don't know and i don't think the devs know exactly
as well but uh we're uh we will keep you guys posted on
on the progress on these spaces and in the
uh in the timeline on twitter telegram announcements etc
so uh guys keep uh uh we'll keep you we'll keep you in the
awesome man i'm i'm super excited uh i could see a lot of like uh in the future
potentially um like just crazy things being done
between dojanels and doj chain like a lot of
projects could be airdropping uh anybody who bridges things over and
things of that nature and just things could be like popping off
which is so i'm excited to see it all come together
yeah we're also working on something like that like a leaderboard
that will reward people for doing those things
so um yeah we'll keep you guys posted as well on that alpha
so um i know that a lot of chains are doing the points thing but
ours are ours is going to be better so
yeah we're going to work on that as well it will involve zkvm dojanels the
current dojan pos chain everything so uh
all right that's all folks do you want to play us out
yep let's go with one other from the Dave Bruback
Alright folks, thanks for coming everybody, we'll see you next week.