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PKT Roundtable Discussion
Recorded: May 1, 2024 Duration: 1:14:27Space Recording
Full Transcription
Thank you. Music Thank you. I'm going to go to the next episode. Music
Music
Music
Music
Music Thank you. Thank you. Music Hey guys.
Hey, hey.
Welcome, everybody. Welcome, everybody.
Hello, hello.
Glad to be here.
Hey, can you make me co-host?
Yeah, let me do that right now.
You have been invited. Thank you.
Adrian is Vestate with TRL Go.
Sorry?
Yes, I'm with TRL.
Vestate.
Oh, no, no, no. That's not us.
I'm here from Best Aid, Mohamed from BD.
Okay.
Just checking to see if...
I don't remember seeing you on the list.
I don't remember seeing you on the list.
Well, they're here now.
Okay.
Seems RWA.
Okay.
Still waiting for, let's see, another guest.
Checking if they're in the audience
well I think we can just get started now
yeah okay guys welcome to the PKT roundtable discussion
thanks for joining again this week we're going to
be talking about the Bitcoin halving, what happened, what's coming next. Of course, before
we get started, the PK team will introduce themselves, our guests will introduce themselves,
and then we'll start talking about the subject.
I'm interested to see what you guys have to say.
So yeah, PKT, do you mind kicking it off?
Yeah, sure.
PKT is a community-operated Layer 1 blockchain that's powering the decentralized web.
We have myself, Jeremy Berger, Josh Berger, Jesse Berger, and Caleb James Delisle from the original PKT community founding team. And yeah, we're really happy to host this space and happy to see all these guests
and so many people here today. So thanks for putting this together, Kurt. And we're excited have a rad discussion today awesome we have Adrian gaffer from trl code here
today and introduce yourself and what you guys do there yeah definitely hey
guys I'm Adrian I'm the co-founder and CEO of TRL, stands for the Real Lifestyle Company.
We're a 360 RWA ecosystem, basically not only tokenization of singular properties,
but we do fractionalized REITs investments as well. So we offer fractionalized REITs and yield returns across multiple different property groups across the world.
And we also adhere to the revenue side of things for you guys.
So a lot of consumer-led products. One of the products is the world's
first home subscription service. Essentially, exactly
like Netflix, you pay one price, you stay anywhere in the world.
In a very Web3 way, of course.
I'll let Sean, my CMO, also introduce himself.
He signed on under the TRL account.
Hey, guys.
I'm Sean.
So I'm the chief of marketing taking care of TRL.
You guys can hear me, right?
Yeah.
We can hear you.
Yeah, awesome.
So what we're really essentially doing
is like what Adrian's saying.
So we're not only tokenizing and fractionalizing
one single property, we're doing it in a pool of said. So we're not only tokenizing and fractionalizing one single property,
we're doing it in a pool of properties.
So imagine you could purchase a property in the US
and also one in Japan and one in Bali.
Basically, you get access to a pool of properties.
And on the consumer side of things,
we fulfill demand by building the world's first home subscription service.
So that's more of a Web2 side of things.
So think of like netflix that you pay
one price and you get to stay in all the houses that we own in the ecosystem so that's our project
cool thanks for that sorry just sending some dms and then we have ai powers here
And then we have AI Powers here.
How are you doing?
Yeah.
Hi, everyone.
I'm Billy from AI Power.
So yeah, I'm Billy and I'm BDM of AI Power.
So I'm going to, you know, introduce you to AI Power.
So if you ever wish to easily turn your ideas into amazing videos, well we did it.
Amazing magical tools that transform text into captivating videos just a few clicks and what we are on a mission to make creative more friends for everyone and whether you are
social media enthousiasms or a small business owner or just someone with a story teller our
our platforms has brought you covered and with our faceings features you can bring
photos to life by uh seeing fac facial expressions with your favorite songs,
creating videos that truly capture the moment and with the text to videos.
Simply type in your ideas and what as AI turned all of them to a visual turning narrative,
completely with eyes catching animations. Well, what sets us apart is just not our innovative
technologies, but also our commitment to our community.
So we believe in transparency and sharing the success
with our users.
That's why a portion of our profits goes, you know,
directly to our royal supporters through token rewards.
So whether you are a content creator, marketers, or just someone who loves to impress themselves,
it empowers your creative and bring your idea to life.
So yeah, nice to meet you guys.
Thanks.
I mean, that's actually, as a marketer,
I might look into that.
So we have VState Fund here.
Did Andy invite you?
VState.
I think we came from scale side.
Not sure who our representative, shared representative was, but I can maybe talk a little bit about what we do.
Yes, please. Thank you.
Sure. So this is Mohamed from the BD side of Vestate, and we operate as an AI powered prop tech platform and it serves as a global real estate trading system and also unites
web3 real estate companies and also web3 real world asset projects and we focus on tokenizing
commissions and its inclusion within the scope of real world assets it comes from the fact that it
only tokenizes the commission this is mainly because of you know
trying to avoid the harsh regulations of uh actual real estate you know tokenization so we're
basically a global property listing platform as veski we are also a collaborative team commission
system and also a gamified utility system as well that you can earn rewards from.
So we're pretty excited trying to be an all inclusive platform on the RWA space and excited
to talk more.
Thank you for having the space.
Yeah, thanks for coming. Okay, guys. So again, the topic today is the Bitcoin halving, you know, what's happening right now? Like, why wasn't it a big splash we all thought it was? And, you know, where is the market going?
you know, well, actually first we have, I'm sorry, we have Caleb here.
I think Caleb should introduce himself too.
Very important member of the PKT community, I suppose, team.
Caleb?
Hey, how's it going?
This app just decided to use my camera.
I don't know why.
Can you guys see me?
No? No. Okay. Video is not enabled on this one okay so it just turned on the camera for no reason
hi whoever is in a data center somewhere seeing me anyway um yeah so uh i don't know i'm uh the
the author of the packet crypt so it's uh it's a bit my fault and um started the packet project as a spin-off of
the cgdns project um cgdns is from about 2011. uh the the goal is to create a self-sovereign
network you know the idea is that we're all we're all relying on you know we're all trying to build
the new the new world and yet we're relying on wires that are owned by corporations that are part of the old world.
And that's not great because they could just kind of turn us off at any moment.
So, you know, a self-sovereign network where we can figure out how to make it so that regular people will own each wire, you know, and that's not that difficult.
The idea that you might own a wire between your house and your neighbor's house and that's not that difficult uh the idea that you might own a
wire between your house and your neighbor's house that's that's realistic and um if we if we have
the protocols and the web3 tech to make it work then you know we could we could get that and and
once we lock that in you know kind of it's game over we won uh but we're in a lot of risk until we do that
you know for all projects and we see like um I see a lot of recent attacks on crypto and uh
I hope we'll have an opportunity to talk a little bit about recent events you know the
um Roger Ver and um what else happened uh oh yeah of of course, Bitcoin didn't take off the way some people had
imagined. Bitcoin is Bitcoin. And oh yeah, Samurai Wallet, they got their website taken down. It was
about like what, a week or two ago. We should definitely talk about that too. Anyway, that's all I got for the introduction of the year.
Thanks, Caleb. Yeah, I'm just going through the listeners. I see a lot of V-State people here.
Might be a lot of your audience here today. But yeah, I wanted to say what I wanted to say
first real quick and see if, you know, sparks some discussion. Um, I, I think, you know, what,
from what I've been seeing in the market, you know,
a lot of people think that the halving is when we, uh,
kick off the new bull run and things are supposed to happen at the halving.
And I think everyone heard that and digested that.
And they thought, well, let's, if it's coming, let's start now.
So we had a, we had a really big bump because everyone's anticipating that bull run.
And then comes around the having, we don't have retail involvement, you know, it's old money.
And there wasn't a big push all of a sudden.
So now people are a little disappointed.
They're pulling back a little bit.
Not dipping back into a bear market, but that's what I think happened.
We shot our wad a little too early.
And now we're sort of seeing where to go next.
And now we're sort of seeing where to go next.
I mean, crypto has always been buy the rumor, sell the news.
I mean, anybody that's been in this space longer than, you know, a couple of months knows that that's just how this thing has always worked.
So it shouldn't be surprising to any people that have been through a cycle or two.
Yeah, that's kind of what i was thinking uh those exact words we we all felt it coming and
uh we all started moving like a flock of birds and now that it's here it always seems obvious after Bitcoin drops $20,000 that it was a sell the news event,
but a lot of people didn't take that bet.
However, if you do any technical analysis on the Bitcoin chart, I mean, you can clearly
see that the price has been tipping over for the last month and a half.
has been tipping over for the last month and a half.
And there's a trend line that runs.
And it's pretty obvious that Bitcoin wants to go back down
and tap that trend line before a bull market can begin.
But nevertheless, I think price is just one part of the story here.
And it'd be interesting to hear from a couple of the other people in the chat
about the other parts of the narrative that aren't just reflected on the price, you know, with regards to technology, use cases, utility and adoption.
One thing to add in the whole equation is like the overall macro economy around the world,
it's not exactly the kind of best situation for the mass market of retailers to kind of come in at this point in time.
I think a lot of people are still reserving their cash and stocking up on cash over the past few years.
It's been a rough, at least a rough two to three years overall in the economy.
So I think that it's definitely going to be a slower gestation period.
But like what you said, I think it's heading down to a trend line before it bounces back up.
So I think it's definitely there to come.
Did anybody see Starbucks?
It just wiped like 15% off the stock price.
And that's not normal for like a stock.
Yeah, I saw that recently.
Over here as well, I think like massive brands like KFC is just like shut down over 150 outlets over where we are in Malaysia.
So yeah, there's a lot of movements happening around.
And I think there's also like this big decoupling between the west well u.s government
centric and the east there's sort of like this this fog of world war three maybe maybe not
kind of thing that's sitting over us and there's a lot of like uh pressure being applied on
exchanges if they're not doing them all the kyC or if they're like privacy wallets,
you know, they hit Samurai Wallet like, what, a week or two ago. And I think that's creating a
lot of uncertainty. Also, we have Jerome Powell talking today. So that's another thing. Everybody's
kind of like, hmm, what's he going to say? Is it going to be higher for longer? Is it going to be a just sit where it is? Or is he going to start cutting?
And well, as usual, you can never get anything out of that guy until he says it.
Fair enough. And I think it's super cool that you brought up that point as well, right? Like I think a lot of people are waiting.
And to also understand the whole East and West tension, I think, on the East side, you'll notice that a lot of retailers are no longer able to really invest their fiat currencies and convert them over to exchanges because a lot of the exchanges over here
are getting kicked out of various countries so the the entry point of of the overall mass
market funds at least over here in the east in in certain parts of the least southeast asia
there's a lot of difficulty kind of entering the overall ecosystem in a nutshell
100 agree yeah the that's that's one thing I can back up.
I also think that the euphoria didn't really hit for long enough to bring in the mass retailers.
There was like a moment when there was, you know, Bitcoin hit all timetime high and a lot of altcoins went up as well. But it didn't last
long enough for new buyers to come in and people who are holding onto their money, especially in
this time of so much conflict in the world, to get everybody out and start buying Bitcoin and
other altcoins. So it had to go up and then it has to come back down.
And, you know, if you look at the charts from historical halvings,
it's a eight to, you know, 15 month climb.
So it's good that it came back down and now it just is setting up for the next push.
Yeah, just like you guys already know what happened with the last halving ride, it's leading up and there was a lot of hives and excitement.
People thought that people might suit up because you know, we do supply.
But yeah, I guess what, it is going for a while but then things settle down so uh with uh the price about uh 57k right now and around that uh i think
the support zone is not uh ready and and it's really weak so maybe it's uh 42k uh yeah yeah
i'm not so sure about that well what's coming next yeah know, what's funny is that the bottoms of these markets,
like when someone calls like a 42k Bitcoin or something, that doesn't necessarily mean that
the price actually hangs out at that number. It just means that you might see a wick that
goes down to that number and it could be literally a five or 15 minute wick. But there's no question
that the price needs to come back down to the
very low 50s. That's around where the trend line is. And I think some people, again,
doing some technical analysis can look at different Fibonacci levels and kind of give
you their interpretation on where Bitcoin will tap. But the reality is, if you understand any of the trading fundamentals,
especially in crypto, you know, the volatility is really key. Part of getting volatility to the
upside is also the volatility to the downside, where you need to shake out people who get scared,
dump their bags at low prices, you prices, the classic buy high, sell low
mentality that we see in crypto very often.
And the way you build momentum for the volatile upsides is certainly from the volatile downsides
and also giving people that have capital to deploy new entry points.
That said, I totally agree. I think that this bull market has
definitely been, or sorry, this halving has definitely been a little bit odd because usually
the all-time high, I mean, traditionally, we don't have a huge amount of data just the last 13,
14 years of Bitcoin. But the general trend is that Bitcoin has an all-time high after the halving.
So this was unique that the all-time high happened or was broken and occurred before
the halving.
We know that that's also partially attributed to the fact that the ETFs got approved and there was a lot of
liquidity that came into the market. But we haven't seen that replicated internationally.
And with the ETF that just opened on Tuesday and the trading volumes were dismally low in Hong Kong,
I think that was a catalyst for big disappointment and part of the, at least again, catalyst
for the price dipping lower.
The second piece that people have to realize, especially for the 2020-2021 bull market,
was there were some really unique market effects that occurred in the United States that are
believed to have catalyzed a lot of the retail investment
that came into both the U.S. stock market as well as the crypto markets.
And I think some of that was replicated.
You know, I don't have a huge amount of insight internationally, but around the world where
a lot of governments were giving cash to their populations to help through
the pandemic. And then a lot of people took that essentially free money and went and bought stocks
and drove the stock and crypto prices up. So, Caleb, I know that that's something that you're
tracking consistently. And the United States has been on quantitative tightening policy
for quite some time. And so one of the major announcements that we'll be looking for from the
United States Fed today is going to be whether they're going to shift that policy towards a QE,
quantitative easing policy, and start injecting capital back in the market. So if that happens, that could end up being a new catalyst for price movement and crypto.
Oh, yeah, definitely.
I mean, if we find out that the QT is over, but then again, it's hard to imagine that
it's going to be over until, this is my personal take on it, until there's like a Lehman
Brothers or something sufficiently massive or just like, oh, we're now at war, kind of like
something sufficiently massive that they kind of have to throw the rule book out because right now if, um,
if, and I know it's an election year, so, so it's really balanced. It's really trying to walk a,
walk a balance beam because on the one side, you know, everybody in Washington kind of wants to
make sure that there's enough money around that, um, the election isn't going to go all the way to the right. And then on the other
side, they're trying to restrain inflation. And I mean, I saw something like seven, 8% mortgages
that are going on right now. And that's just wild. But I think that if we get to the point
where either we have like a Lehman Brothers moment or we have like a shot heard around the world kind of moment, then that's the moment where they are likely to just turn the money printer back on and we'll go right back to 0%. will be bullish for crypto. But there's also a risk that that comes along with massive regulatory
attacks where they're just running around shutting down exchanges, right and left, grabbing people,
putting them in prison, and that will be bearish for crypto. So we could see like a weird kind of
bull bear chimera that comes out of this,
like printing money while running around grabbing people.
Yeah, we had Samurai go down.
You had Assisi is going to jail, right?
Or is it like...
Yeah, I think it's a four-month sentence.
Yeah, four months.
Well, that's been in the pipeline for a long time with Assisi. month sentence. Yeah, four months.
Well, that's been in the pipeline for a long time with CZ. I think
the one that is a bit more surprising
is Roger Ver because
the guy, he
renounced his US citizenship.
He never lived in the US.
He just moved out.
And I think, as far
as I understand, he just took all his Bitcoin, dumped know, I mean, I think as far as I understand, he just took all
his Bitcoin, dumped it and poured all of that into Bitcoin cash, which I mean, that didn't really go
anywhere. So, you know, the poor guy, you know, he lost everything doing what he believed in.
And now, now that he's lost everything, they finally like seven years later, they come after
him to throw him in jail for the rest of his life.
And it's just ultra shady behavior on the part of the U.S. government.
It's like almost Assange level.
Just four months, right?
No, for – I don't think there's any –
The other guy.
Yeah, that's for CZ, but that was because that was a big negotiation
and a big fine and everything.
But I wouldn't be surprised at all if Roger Ver gets life in prison
because there's nobody to back him.
He doesn't have $5 billion to pay in a fine.
He's, you know, he's, he's vulnerable. And those are the types of people that the U.S. goes after and just, you know, make an example out of them.
Right.
I agree with what you said. I mean, like, I think the, the example part, I think is something that governments around the world are kind of utilizing right now to kind of, I'm not going to say scare retailers out of the overall crypto industry or the Web3 industry, but it's more like if you are going to put your money in, make sure you know where to put your money and how to put your money in.
And I think that that's also keeping a lot of the retail funds away at this point in time.
Right. what do you
guys think about that like do you let the ETFs love it you know oh yeah you can
invest with you know nothing your money's safe with BlackRock but you know if you
mess around with this other stuff oh boy you know you're, you're on your own. Like the fear mongering pretty much.
But, you know, that's also part of the regulatory process that people are inviting and welcoming
because you kind of, I don't know, this might be controversial, but it seems like the if the U.S. government in particular, and I can only speak to that market, but says that these guys are the good guys and you can give their money to them.
can say, okay, well, we feel a little bit more comfortable moving, you know, billions to tens
of billions of dollars into these particular places that the U.S. government has said, yeah,
these guys are the, you know, are the good guys. And so that's part of the good part of the ETF.
And, you know, obviously was a positive market influence as well, because you had the, you know, you had Wall Street basically able to say,
okay, so these are the approved, you know, ETFs, SEC has said, these, these guys are good to give
your money to. And we saw a pretty tremendous inflow of capital. We also saw the beginning
of retail being able to say, okay, well,
my financial advisor said I can put one to 2% of my money into these types of financial vehicles.
And even though most of them invested at $60,000 to $70,000 over the last three months,
and their bag's now down 20 30 percent regardless
you know you knew it was going to be volatile your financial advisor can now kind of walk you
through that volatility and you know we know at least well we don't know for sure but you know
history repeating itself is that when there's downs, you know, when there's lows, there's also going to be highs. So that's part of the process that we do want to see. However, you know, it also
the flip side of that coin is that it starts to paint these centralized exchanges that are,
you know, essentially unregistered and which the US government's trying to take down,
you know, become very vulnerable and investor, you know, the retail investor people who have
their money on these exchanges, you know, become vulnerable as well. So and it also we know that
that creates tremendous volatility if they go take down, you know, these major exchanges,
you know, that's definitely destabilizing to the Bitcoin price.
Yeah, I agree. But what I'm wondering a little bit about is when we're going to see this,
you know, approval and given the go ahead from governments to these large exchanges,
because, you know, i feel like it's
time but it also seems like it's going to take so long that we're not ever going to maybe see you
know our next generation maybe it feels like it's gonna see these optimized you know integrated
roles of the government well i mean the else to think that, you know, the stock exchange
didn't just, you know, happen, didn't have any volatility when it first started, you know,
like you got to think about these financial markets where crypto is a relatively new
financial market. And these in government, everyone knows governments and big corporations, they don't move
fast. And so there's definitely a wait and see type of mentality. But there is more definition
that's happening. The XRP lawsuit gave a little clarity. The Coinbase is in a lawsuit. The conclusion of that will give a
little more clarity. And each of these case law that occur gives a little bit more clarity.
And there's always going to be bad actors and people that are trying to take advantage of a
situation. But I think people forget that the stock exchange has circuit breakers, that if the market moves
too much, literally the market shuts down, the stock exchange shuts down.
Crypto doesn't have that.
Crypto also doesn't have a bell that rings when it's time to start trading and a bell
that rings when it's time to stop trading.
It trades 24-7 all across the world. And so taking these into consideration, I guarantee that if there
weren't circuit breakers in the stock exchange, you would see the same volatility. I mean, we're
seeing literally companies get rug pulled, banks get rug down to zero. So this is just kind of par for the course.
We just don't see it in the traditional markets as much
because there's things that have been put in place
to help prevent these massive swings that we're seeing.
If Bitcoin was trading in a traditional market,
the circuit breaker would have kicked
and it would have stopped trading for a little bit to help stabilize the markets. And crypto just doesn't have that.
Well, I mean, so one thing is that we're talking a lot about this regulatory uncertainty,
and that's a very US specific thing. Like here in France, they issue licenses to run a crypto business. So, and there's lots
of exchanges with licenses in France. They use that for their European operations and everything
works quite well here. It's really like the US has a regulatory problem because they want to have a
regulatory problem. They want to keep all the
money in Wall Street. They don't like it going into crypto. And so of course they're going to
do all this regulation. And you see like all of these attacks are coming straight out of New York.
It's not like this is some judge in Washington state who decides that he doesn't like crypto.
This is all coming straight out of Wall Street.
And then the other thing, what was the other thing? Yeah, I forgot. So I'll come back to you
when I remember it. There's also a big Fed meeting today. And I think that has a lot to do with the markets going down. I think people are
anticipating interest rates in America to stay at its 23-year high, which is obviously not ideal,
but, or is it ideal? Who knows? So I think that once this meeting's over, depending on what the
outcome actually is, we could see some pretty high volatility today.
Yeah, we're talking about circuit breakers. My opinion of these circuit breakers is that
they're more or less there so that if you're a retail investor using your Robinhood trading app
and you need to get out of a position because you're getting screwed,
you're locked in. You're going to stay in that position. And meanwhile, the big guys are going
to do OTC. They're going to get on the phone and say, hey, I need to get rid of this. And they're
going to get rid of it. They're all going to get out. You're going to be the one left with it.
The retirement accounts, they're all going to be the ones left holding the bag. The circuit breakers, in my opinion, are more just there to give time
to the big guys so that they can exit and leave the retail holding the bag.
That's really interesting. There's some things you don't really hear about um did you guys
hear the rumor that that bell will be like eradicated there'll be no more like clock in
clock out for the stock market i heard they're talking about it yeah i heard that they were
talking about a 24-hour market it's uh it's always been a little bit perplexing because there is aftermarket trading,
but only some markets support it. So yeah, there is no reason why with technology being where it
is today that we're not trading 24-7 with the US stock market. But again, there are controls in place to prevent certain types of volatility.
And that doesn't exist with crypto.
But it would be good to see that opportunity happen in the US market.
I think there's a vector of manipulation that we see consistently happen in the U.S. market, such as companies announcing earnings after the trading bell.
And so that can introduce volatility in after hours trading.
But many retail markets can't access that.
And so that creates just market manipulation, which seems to be a common theme across all these markets in general.
And, you know, crypto has another piece of it, which is the centralized exchanges offering leverage trading, you know, straight onto the exchange.
straight onto the exchange. And the stop loss hunting, it's unbelievable to watch it because
the amount of market manipulation on these specific markets, a lot of people in crypto
maybe don't create an equation to equate a US market like the US stock exchange, sorry, like the Dow Jones
is being one market, Standard & Poor being another market, and each individual cryptocurrency
exchange being their own unique market.
And then when you're offering your customers leverage trading opportunities, but then you can manipulate your unique market
to hunt out the stop losses and trigger liquidations against your own customers and
just basically take the customer money. That's pretty fucked up. There's a complete conflict of interest there.
And you don't see that exactly happening, you know, in that context, at least, you know, in these regulated markets. So there's a long way to go.
I don't hear a lot of people talking about that.
There's certainly ways for the retail player to make money off of the exchange, especially if you're a savvy trader and you understand how to read these charts. But at the end of the day, those markets are being
specifically manipulated by the cryptocurrency exchange because they want to execute those
liquidations because the liquidations is income for them.
Do you feel that moving forward post-halving, do you feel that because of all the things going on right now, all of the regulatory slam downs as well as the narratives that are going in the market, do you guys feel that retail investors would be kind of, they would hone down into specific things that are more comfortable to invest in like specific projects that are comfortable with for example our w a like real assets property
investments so on and so forth do you feel that they'll kind of transition
back into that mindset where they're still going to be investing via
cryptocurrencies but they would rather go back to some industry that they
understand yeah I think I'll just comment on that
quickly i there's there's two or three parts to this that i would bring up so the first part is
like if you rewind back in time to the year 2000 to like the y2k thing for people that are old
enough to kind of remember that or maybe most people on this call might remember it, but certainly didn't have like a trading account 24 years ago.
But the thing that happened is like the markets did drop dramatically and a lot of people
got hurt in tech.
And there were a lot of like funds and investors that just were like, got hurt in tech because
they really believed in the blue sky,
then, you know, Amazon stock plummets, you know, I forget how many percent, but you know,
big double digit percent. And, you know, you look like a clown because you invested and it went down
and you go, I'm out of tech. We're not, we don't like that, that thesis where we're going to focus
on things that are safer things
that are more stable well obviously the people who bought the dip on tech are you know today's
billionaires right because you would have been buying you know apple stock and ibm and you know
various different chip manufacturers and all the different things that have now been the most
important narratives for the future of humanity well you
know again that was 24 years ago crypto's barely 14 years old um you know we're just talking about
Bitcoin so the rest of these markets you know rest of these all coins and new narratives I mean less
than a decade old right so we haven't we don't have sufficient data to see where this is going
to go so in general retail are just going to be learning about this these are you know relatively
small assets other than like your top 100 cryptos but uh you know have you know exorbitant size
market caps even if you look at some of these like top 20 cryptos that have like
double digit billion or high billion dollar market caps and compare those to blue chip companies,
a lot of blue chip companies don't have even a billion dollar market cap. I shouldn't say blue
chip companies. Most of them do have substantial double digit billions. But again, those are blue
chip companies that show you their books. they generate revenue like people are buying those
products right in crypto no one's buying any products for from these um from these cryptocurrency
projects it's you know the the price is literally just based on venture backing who upholds the
price market makers that you you know, basically help create
that. And then if there's any semblance of, of utility, but usually that utility is very narrowly,
um, used by certain projects that are built into those ecosystems. And, and, you know,
in a lot of ways, um, it's still too early to tell if these projects are going to be around
long-term, you know? So I think it's just early, to tell if these projects are going to be around long term.
So I think it's just early, early, early.
We're still in this early phase, which is also good.
It creates tremendous opportunity.
And so in the post-halving era, some point in the next year, we're going to see some volatility to the upside.
some volatility to the upside and you're going to see new projects emerge that are changing the
narrative or um you know you're going to see opportunities where there's real world utility
for uh these crypto protocols or crypto projects that uh can gain you know mass adoption and so
like for example you mentioned rwas you know for example, you mentioned RWAs, you know, that, that acronym
doesn't mean anything to, you know, retail people. They don't, they don't have a clue what that is.
But, um, if at some point the title to their home or the title to their car was a digital asset that
was in a wallet, you know, or treasurer that you kept in a safe and when you
sold your car you handed that that digital asset over to the new owner that might be uh something
revolutionary that would make you know that process a lot easier a lot safer a lot more
transparent maybe at one point the dmv in the United States, you know, has you come and scan your title when you check in. I mean, these are things that
can be world changing. And I think at the point, I've always said this, you know, at the point
when we stop talking about protocols and we start talking about use cases and like,
stop talking about cryptocurrency and blockchains and just talking about
what it does, not how it
works, that's going to be when we're going to see the most amount of retail adoption. Because
if you use that same analogy with the internet, you know, when you talk about sending an email,
you're not talking about, you know, POP3 or IMAP, like no one talks about that, you know,
they just talk about what it does
so we're still in this phase where we're talking about how it works and
i think that's still gonna that's gonna be a deterrent from from the wide scale adoption we
all want to see maybe i can take this opportunity to say that uh um i don't know. So I am running a little VPS hosting. It's an
experimental service hosted for packet you can you pay 500 packet a
month and you get a VPS and it's cg DNS only but with a VPN access to
the public internet. And just as of think yesterday, we got it to
work so that you can use
why you know hosts. So if you have why in a host, so so that you can
just like click, click and have a website with WordPress, you don't
need to be like a developer in order to be able to build a website
on this platform. What's cool about it is that it's hosted in
the cg DNS network. So it's we're we're building out to the direction of
unstoppable websites um the next step is what we're working on right now is going to be making
it so that you can connect to cjdns even if you don't have it on your computer so if you have like
a windows computer you can connect but anyway uh it just came to mind in the in the context of like
real world applications um so something we're in the
packet that we're doing is is we're we're backing our way into unstoppable websites
uh it seems interesting thanks thanks for sharing yeah i think i mean that's it's more than
interesting in my book i think we have a bit of an issue in the crypto world in general, which is people talking about decentralization.
And then when they set up their website for their decentralized project, they just go get a centralized server from Amazon or Microsoft and use DNS from GoDaddy. And it's like, you're just, you know, still living in a web two
world, but you're talking about doing things in the future. And, um, that narrative is important
that people should understand how they can actually, you know, um, be the narrative that
they're, that they're also, um, talking about and, um,
put their money where their mouth is in the sense that like, if you want to do something,
something decentralized, like you should do it. Um, I think a lot of people just literally don't
know how to do it and they believe in it. Um, but they just don't have the, you know, the,
the knowledge or the tools to, um, to make that happen. So I do love that narrative at,
or the tools to make that happen.
So I do love that narrative on the Packet Project,
which is bringing that ability for someone to say,
yeah, I not only believe in this,
but I want to have my project represented in this way.
We saw it a little bit in the metaverse narrative
that was during the last bull run,
you had projects like sandbox, you know,
that had this, you know, it's totally centralized, right? You have to go in through the sandbox
website. You have to have a sandbox login. And then once you're in there, you're in this metaverse
environment. All it is, is a map from, from what most people see. And then you could buy land,
you could buy a plot of land in the metaverse.
And then on that, you could build kind of an environment
that people could come and, you know,
put on a VR headset and walk around in.
And there were kind of games and worlds
and what have you that you could do there,
but really not a lot more than that.
And you had a lot of companies that thought, okay, well, this is the future.
I want to go buy a $20,000, you know, nine square plot of land where I can put my logo
and have representation in the metaverse.
Well, the metaverse narrative is, you know, got a long way to go.
But the decentralized internet narrative is, you know,
more fundamental because what it represents is like, if you're just a regular old business,
let's say you're, you know, selling jewelry, but you want to do that in a way that
is decentralized, where you're not relying on these centralized organizations, then yeah,
you need a tool like what,
or service, I should say,
like what Caleb just described,
where you can set up your website.
You know, 500 packet is, I mean, less than a couple bucks. And so now you basically are able to host a website
that's in a completely sovereign place of the internet.
It's accessible through a traditional web browser
and through Google.
And that's just, you know, again, putting your money where your mouth is in terms of the narrative of being
decentralized. So I'd love to see thousands of crypto projects, not saying, hey, don't set up
your project on GoDaddy, but also have an identity in the decentralized web, have a website even just with your logo
on it, like what people did in the metaverse in the decentralized web.
So as more people arrive into that environment, you know, you actually are, you know, being
the change that you want to see.
You know, when, when Samurai Wallet, you know, when they got their website just taken down and, you know, it turned into a splash page, which said like IRS, FBI, whatever, this website has been seized.
And like literally what happened was the U.S. government just made a phone call to VeriSign, which is a U.S.-based company, and VeriSign operates the .com domain.
which is a US-based company, and VeriSign operates the .com domain.
And they just said, you know what, samuraiwallet.com,
we're going to seize that.
And so you need to transfer that to our domains.
And it was just that easy.
And so, I mean, if you think you're making the future and stuff,
and then you just have this one website that one guy can just make the phone call
and shut it down, I mean, cool, but you're kind of not, you know, and the more we see
websites like that, just, you know, government comes in, takes down and just says, yeah, you're
not allowed to do that anymore. And I mean, these guys, these were, these guys were international.
They're not even American citizens. They got, yeah. called Portugal and said, hey, you need to arrest these guys and send them to New York.
It's literally Wall Street just projecting jurisdiction over the entire world.
And they can do that to a significant extent because a lot of the DNS, the domain names on the internet are governed by US-based companies.
So yeah, I mean, if you want to have a website that's not just going to get taken down as
soon as a New York judge decides he doesn't like it, you're going to have to do something
a little different.
I wanted to swing this back around to the point real quick, just address something I've
been thinking of.
And it's just the word narrative,
because what does the narrative even mean? The narrative, in my opinion, is for retail.
And back in 2020, when we had the big, really big push 2021, we saw crypto in Fox News. I saw
people talking about crypto in the gym. For retail, narrative is important.
So in this case, when we have global events sort of turning people away from investing, which in turn is crypto, how can we turn that into a narrative?
into a narrative and like with Samarwal with you know people being shut out of
internet I think that's an opportunity for projects like PKT and you know
possibly even real estate or anyone who's decentralizing things to latch on
to this and turn it into a narrative to get retail back in the game like oh we
were you know all these global problems,
the solution is crypto.
Okay, let me hear more.
So, yeah, I think that's important
when we're thinking about how to move forward.
I mean, we always know that retailers are the last to get in, right?
And, you know, historically speaking, the halving has been a non-event, right?
There's maybe a little shakeout, there's a dip or whatever.
There's, you know, certainly a dip last time before they, you know, turned the printing
printing machines on and gave everybody free cash.
machines on and gave everybody free cash.
And, you know, if you remember the last cycle, you know, the pandemic hit and everyone, you
know, crypto took a huge nosedive.
Anybody that bought, you know, absolutely smashed it.
So this is all pretty normal. But the focus of blockchain, I think, has materialized in real projects that are doing real things, not just JPEGs, but actually finding real uses for NFTs, finding real blockchain technologies, people building real tools on top of these layer one blockchains that
are actually usable by the masses. And so my focus personally has always been just to keep
building utility and keep building tools that are needed and usable and useful in everyday life.
And I think just staying true to why you're building it,
instead of just like building stuff to be in the crypto space is super important.
And making sure that you're using this technology to make things easier and streamlined and not
just using it as like a narrative because you want to participate and
be able to make a lot of money in crypto but the incentive also makes it so that you bring in that
retailer and when people are making money and everyone's high-fiving everyone's like oh shit
let me pay attention i want to make money and high-five people too yeah i think coming from
the web2 space because i've been in bonding and marketing for around 10 years doing Web2 planning, it's really like the case of projects really being able to market the real world use case behind why they're using the blockchain technology and the problems that they're solving.
I think 90% of crypto projects out there, they fail to really deal down the narrative and really speak in ways that is not really about the
technology but about the story and about the problem that they solve in order to gain mass
adoption because a lot of projects they don't really you know survive after the bull run and
they don't manage to go through the next cycle and raise enough money to survive yeah so i think
from a branding and marketing perspective a lot can be. So kind of like what we're doing here at The Real Lifestyle, right?
So we're really trying to democratize real estate and really just solve the problem of how mortgages and interest rates are really rising.
So we're trying to just take control of that narrative and give people back the power and have people able to invest in properties worldwide
and being able to live anywhere around the world.
So it's a very simple use case that we're trying to solve in a very simple problem,
just giving people back the power to take control of shelter.
So I think a lot of projects, like I said, it's too much focused on the technology
Like I said, it's too much focused on the technology rather than the adoption and the use case.
rather than the adoption and the use case.
Hey, I'm definitely agree with the tail race.
Like we're living in a decentralized world, but now, you know, we are using the Web2 service like server from AWS and CDNs from Cloudflare or something like that.
So, yeah, a lot of failures.
I think that we must concentrate into about the community
and the benefit for users more than just about the technical.
What do you guys think are going to be the three or four or five next emerging kind of
narratives and trends moving post-Bitcoin halving?
Like, I know GameFi, I know like Web3 games and stuff like that, and obviously RWA core
narratives, but do you think they'll withstand the test of time over the next two three four years now that black rock's kind of going into
the rwa space with the real assets and with the real estate investments and stuff like that do
you think that that's going to be a core narrative for retailers to kind of maintain and kind of
push forward or do you feel that there's still a lot of things yet to come when it comes to
where retailers
will put their money or where even institutions are going to put their money? Like which sub
industries within the crypto and Web3 space?
Open question to everyone.
Yeah, it's hard. So hard to say.
I mean, we've been focused on Deepin,
and I think Deepin is going to be a huge narrative
as far as like where are you going to build all this stuff?
Where does all this stuff live?
How does it live on the centralized infrastructure?
I think that's going to be a big one.
Obviously, we've seen AI as a big one,
and that's gotten a lot of excitement and hype around it.
So I think those and gaming, people just want to use this.
You know, there's been so much talk about crypto,
but like most people have never touched it besides like maybe bought a Bitcoin
or maybe, you know, now we have a bunch of stuff from the ETF
and now people are like able to access it.
But yeah, I think people are like, okay, cool.
Crypto.
Sweet.
What is it?
How do I use it?
How does it make my life better?
And so people just want to find that utility.
I think that that's going to be the biggest narrative for this market or this
cycle. I kind of like, you know, every time I'm hearing this word narrative, it's sort of rubbing
me the wrong way because like, yeah, I get it. You know, it's like, it's about the use case.
Use case should probably more be the word because, you know, when you say narrative,
it could just mean like what we're going to tell people in order for them to give us their money.
And there's so much of that crap in the Web three that, you know, they make up a narrative, they make up a token, they give it to people, people give them money. And then that's,
that's, that's where the story ends. And that's not at all what we're here for. Like we're here
to build a use case that makes it so that people can experience value. And we've been doing that.
We have a track record of creating value for people where they do something, they buy something,
it creates value for them over the long term using the crypto as part of that workflow that is creating value for them.
So I just, it is kind of like, I think we should be focusing on the word use case just
because it's more concrete.
Yeah, no, I understand what you mean and 100% agree.
I think that like, again, I think use case is definitely number one.
I think proof of concepts are kind of what is lacking in the Web3 space right now. And I think that, like, moving forward, I agree with you. I think that,
look, there needs to be a situation that Web3 sits as the underlying layer to sit in mass market
kind of Web2 consumer projects that go and attract the millions of users to come on board, right?
Things that we're
doing here is like trying to simplify the way people rent people buy houses
people invest in houses and so on and so forth and what one of the core things
that we're putting to market at the moment is is being able to market it in
an extremely web to seamless way where we just say hey look if you want to rent
a house you can rent a house
right on a monthly basis and you can go through a subscription process the the web 3 or the
blockchain narrative just well not narrative but technology just sits as an underlying layer to
facilitate the entire process from a to z right and i think that that's something that i feel
right and I think that that's something that I feel should be done more across every project
and I think like very much you're right on that like this this next four years is going to be
super focused on projects that really deliver that use cases to market but also deliver
not just use cases and use up funds that they've generated, but also start generating revenue and become sustainable by themselves.
I'm going to start winding this down, guys,
but I just wanted to quickly address the, you know, tie, I think,
was it V-State maybe or TR Cult that was talking about branding,
how that ties into the narrative.
And that's, you know, branding is what it's all about.
It's what people are talking about and how we present ourselves.
So I don't think it's as much narrative, as much, you know, branding.
And it is important.
I mean, it's not all about use cases, about what people think is important, what's trending and everything.
And I think real estate, I mean, that's a narrative, right?
We have two real estate people here on the stage.
A lot of the listeners are following one of them.
So I think real estate is going to be a big one.
But again, I want to thank everyone for coming.
Just going to, yeah, going to wind it down down let everyone say one last word before we go
and uh yeah we'll start with uh vstate
sure i'd love that yeah thank you once again thank you for hosting the space it's i think brilliant
to consistently you know talk about uh the where where crypto is in general but yeah you know
we've been talking about use cases and vestate is in my opinion you know a great concept it's it's
you know the bringing not just users but also agents and companies like real estate agents and also companies.
And it's, you know, we're pretty inclusive
and excited to move forward with it.
Everything is, you know, transparent and fair.
It's a more fair than the traditional Web2 system
that everybody is using in real estate.
And yeah, the commission, you know,
I have a lot to talk about but uh you know we only
have a couple of minutes so uh i i kind of i guess want to thank every listener and invite them to
you know check out uh every single project on here i believe because you know everybody's been talking
brilliantly and yeah,
we're, we're, I think, I think that's going to be it.
Yeah. Thank you for the opportunity.
Thanks for that. Yeah.
We've had some smart people on stage pretty much every,
every time we have people, AI powers, you want to say something?
Yeah. I think that next chain trend to, you know, about social fights and we are intent
to do some things about that.
Air powers, you know, we do things like amazing.
It's like you step in the companies and many departments and they make more jobs to do like sales department, marketing department.
We engage with the marketing and content creators first.
That's new ways for them to engage into the crypto world. So we do have more apps on App Store and CS Play.
We've had more than 110k of downloads.
And we do have revenue already.
So we decided to bring all of that to Web3.
And it's a good way for our users to reduce the cost
instead of paying the price for Apple Store and Google Play.
So yeah, it's one step.
We want to step by step before a new step.
And I think that a huge opportunities for all of us and just like
we're building skyscrapers and yeah i think that community and users experience is very important
it's a part of building a skyscraper and it's like putting a strong foundation
uh we can go higher and higher yeah that's my opinions thank you
absolutely all about community um can we just have a trlco
yeah sure yeah or agent
okay okay okay cool so anyways like coming from the web2 space Yeah, or Adrian
Cool, so anyways like coming from the web to space I I think I'm very excited about the adoption and bringing in more web to people
Especially like marketers like myself and I guess more leaders just from the web to space believing in the project
Because for me once I found out about the blockchain to be honest I'm quite new I came in only around November I've been following the blockchain sentiment since the 2020s the bull market but coming into this space I
can't imagine going back into Web2 because I can see the power that this
technology can bring and how much it can really change the world and I think if
you just focus on that the problem-solving narrative a lot more Web2 people are going to come and leaders are going to lead this space and I think if you just focus on that, the problem-solving narrative, a lot more Web2 people are going to come and leaders are going to lead this space.
And I think that will enable the future of what blockchain and crypto means.
Angel, you want to just close off with our project and just introduce?
Yeah, sure. I'm just going to take like 30 seconds to a minute, guys.
So yeah, basically at TRL, we're going to be launching our token this year towards the end of the year, but we are launching revenue first to market.
So we're going to have properties available for rent and for purchase and for tokenization available in Indonesia and Malaysia and the US as well as in Dubai.
in Dubai. We're actually launching our first 15 to 20 properties in Dubai in June. That's going
to be in about two months. So that's going to be up for tokenization as well as anybody that would
like to purchase a token. On the other side of things, if you would like to be a consumer and
kind of subscribe to that live seamless, live borderless, and live accessible narrative.
That's something that we're also launching to market. So both consumer side as well as
the fractionalized real estate with new generation comes into play in June.
Feel free to kind of drop that follow button. I'm going to put the plug in here, right?
As well as reach out to us if you guys want to work together.
I know VState, I think we can definitely kind of work together in that sense.
So I'm definitely looking forward to kind of taking that conversation further.
We've got about 20 mil worth of AUM already under our belt at this point in time,
a US dollar's worth.
So it would be good to kind of connect and see how we can get things moving.
But to everyone else here,
at any point in time, if you want to reach out to us, drop us a follow
and let's
connect. Thanks, guys. Appreciate it.
Yeah, thanks to all the speakers.
Yeah, unless PKT
team has any closing thoughts,
we're a little over time here, so it'll be time to close it up.
Yeah, just sum it up real quick.
You know, if you're interested in owning a part of the decentralized web
and supporting the build out of what we're all trying to do here,
of true decentralization, then yeah, you can head over to Mexi
and the coin is actively trading and you can
also jump into the community on discord you go to PKT cash and find the links
and all that stuff but and everyone who's part of the community who's here
supporting and building you know it's a team effort to go build this thing out
as big and grandiose as we want it to be.
Thanks once again.
Awesome. Thanks, everybody.
Thanks, guys.
All right. Thanks, everybody. Have a good day.
Have a good day, guys.
Bye. Thanks, everybody. Have a good day. Have a good day, guys.
