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Spill The Alpha #13: Crypto Is A Butthole w/ @AgentChud
Recorded: July 3, 2025 Duration: 1:19:31Space Recording
Short Summary
In a recent engaging discussion, crypto enthusiasts explored the evolving landscape of the industry, highlighting Kuma's strategic partnerships and fundraising efforts, the launch of educational initiatives, and the importance of personal growth over material wealth in defining success in the crypto space.
Full Transcription
Thank you. hey man how's it going hello hello hey do you guys know, can you speak in spaces yet from desktop?
Yeah, yeah, you can.
Oh, for real?
Yeah, yeah, I'm definitely going to switch to my setup.
I will be back in a month.
Yeah, no worries, no worries. Take your time.
Hope everyone's doing well.
Hello, hello, hello.
Shout out to Migmas.
Shout out to Migmas. Shout out to Small News. yeah i can hear you perfectly fantastic nice. Nice. I can hear that good quality mic.
Oh, yeah, yeah. I got a Shure, S-H-U-R-E.
You know, I had one of those igloos for a while, but it's just a piece of shit.
I tried to tune it and, you know, do software stuff and it did just never worked well.
Just got the plug and play Elgato Wave microphone thing, which is, it's decent enough,
you know?
No, nice.
No, good, good microphone and a good camera are good, good investments, you know, especially
the microphone, if you play any games or anything like that.
So it's good for your teammates to be able to hear you.
The mic makes such a big difference when you're making content.
Like ever since we started doing the spaces,
at first I was just doing it with the AirPods.
And then I decided to just, you know,
I'll just get a mic when they enabled it on desktop.
And it made like a massive difference in just the quality of everything.
Oh, yeah, for sure.
Well, you're coming across pretty clearly.
So I think you uh, thank you.
Awesome.
I think this is going to be, honestly, I think you're the first guest
who has like a proper mic and not just like AirPods.
So this is, this would be like the highest production space we've had.
The highest production, you know, no guarantees on quality, but we'll
cross that bridge when we get to it.
But yeah, man, man, thanks for coming.
I really appreciate you coming on.
Welcome to all of our listeners to another episode of spill the alpha.
I'm sure you guys will enjoy it and I'm sure it's going to be a great one.
And yeah, thanks for coming Chad.
I really appreciate it.
If you guys don't follow Chad,
make sure to give him a follow a fantastic shit posting and a lot of great
posts about,
you know,
about markets generally. Total bear. Just great posts about, you know, about markets generally.
Total bared out, boomer wisdom, you know, that kind of thing.
Yeah. And I was, you know, it's funny, I was thinking about the name of the space. And,
and like the first thing that came to my mind was the clip of you talking about how crypto is a
butthole. So I was like, oh, this is like a perfect name. You know, it's funny.
I think that's like one of the most viral,
what do you kids call it these days?
Clips, you know, from anything I've ever done. Yeah, I think it is.
Yeah, I didn't even like expect it to,
you know, have that wide of a reach.
But, you know, I think like the whole,
I guess, mantra of always be selling
and crypto, you know, is a butthole
are both very important. And for those that, you know, is a butthole work are both very important.
And for those that, you know, don't know me
or don't know what I'm talking about,
I'll kind of go over that very briefly
so you kind of just understand.
And, you know, a lot of what I'm going to discuss here today
is going to be stuff that, you know,
some people may say, well, you know, that's common sense.
And I hope these are things that resonate with other people
that, you know, have kind of sense. And I hope these are things that resonate with other people that, you know, have kind
of lived through this stuff like we all have.
It's really interesting that, you know, we as a community like crypto, Twitter,
anybody doing this, like, I find it a lot of times, especially if you're doing this
full time, you know, it's very difficult to identify with people on the outside, you
know, because once you do this for a living, once you're inside, you kind of go through things that no one else in the world can identify with.
And it's really special.
It's kind of like the glue that bonds this community.
So, you know, I hope you guys realize what I'm talking about.
When I say always be selling, you know, it's just a way to avoid round tripping. And really the thing is,
and people are so scared of selling even a little bit of their bag because they think that what if
this is the one, you know, everybody wants to, you know, quote, make it right. So if, if I sell a
little bit of my bag and this is actually the one, well, shit, I'm not going to make it. Well, the
thing is, is, you know, let's say you're up three,
four, five X in a bag. If you shave off 10% and it is the one, you're still going to make it.
But the probability suggests that it's not the one. So always be selling is really just a frame
of mind to be in to ensure that you're constantly able to take profit and recycle profit and level up your portfolio.
Now, crypto is a butthole, is something I just kind of said in jest.
But it is true.
You know, this crypto space is crazy, right?
You can get rugged.
You can buy something and legitimately lose 95% of your money in months, which is crazy. And look, we have these outsized
returns because the risk here is so obscene and most people can't stomach the risk. But if you've
managed to take anything off the table, you have to continuously remind yourself of the reason why
we're all here. And that is to improve our lives in the real world.
You know, it's good.
Being rich in the metaverse only gets you so far in life.
You know, we want to be able to have a nice car to drive.
We want to be able to have a nice place to live.
We want to be able to go fill up our car
and not worry about, you know, putting gas.
I said, when I was 20 years old,
I was putting $5 of gas in my tank
every time I went there.
Of course, because I also had to get my
grape nos and my grizzly wintergreen.
But it's like people just don't kind of understand
what making it really is.
And making it, there's different levels to it,
but the real definition is
you were able to improve your life in the real world by clicking some buttons online, which is kind of like one of the craziest things about this space.
You know, can you imagine like telling people 30, 40 years ago, like, oh, you could just go click some buttons online and maybe get ahead in real life?
Like, that's insane.
And this is like a new opportunity that's been presented
to us. So as you improve your life, you know, you're able to go to the grocery store, fill up
your cart and just go check out because fuck it. Who cares how much your cart costs? Like,
that's the kind of shit I'm talking about when I'm talking about naked pay off that credit card debt,
you know, pay off that mortgage, pay off your car debt. You know, it's, it's all about getting
ahead. So when you take that money out and you actually are able to you know get ahead in real life don't put that money back at risk you know
if you're so great and you were able to improve your real life once and you weren't just lucky
then you'll be able to do it again so crypto is a battle you know when you take the money out
when you exit crypto don't put it back in yeah there's gay people listening around they're
like what the fuck are you talking about dude that's all the time what do you mean what do you
mean bro yeah but that's a really good point uh before before i uh we keep on going i just want
to remind everyone uh huge thanks to kuma for hosting these spaces for making them happen uh
kuma is now live on bear chain with up to 50x leverage we're giving out around 20 000 every single week so if you want to check out those rewards you can click on my bio and there's
a link with a referral link we will give you 25 discount and you can give it a try um but yeah
it's a really good point and um you know i think i wrote about it many times like a couple of uh
weeks ago i wrote how um how people just always, oh, but what if it goes higher?
But for some reason, they never think about what if it goes to zero, like tomorrow?
And I think it's a combination of just not experiencing those things, right?
Like I had a couple of experiences where i i had huge drawdowns like we're talking 90
plus um on my crypto portfolio and you know this kind of like scars you and then you just realize
that okay i don't want to experience that again i don't care how high it goes i'm i'm cashing a
bunch out and i'll take it home um and i feel like once you experience those things they just scar you so
deep that you just never go through that mistake again and um then yeah i just feel like it's
people that have either not been around for enough to see things like luna going down 99
for five days in a row every single day 99 and you know FTX collapsing and whatever that's
happened in the last couple of years, like, you know, 2020. And
and yeah,
I mean,
Scott Martin
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And look, I'm a stubborn son of a bitch.
Like it took me losing all my money, like way more than one time.
And I really wish that wasn't the truth.
And I would imagine there's a lot of people here that are like, man, I've lost my money like three or four times too.
Like when am I going to fucking learn?
But those scars, you know, they do cut deep.
And the problem is,
is you really have to be a crazy motherfucker
to persist and to continue pushing forward here.
Because you have to be able to balance the PTSD,
you know, from those scars with your,
that hopium, you know,
that you once had when you were new to the space.
And there is a balance, you know, you need to know what it feels like to lose everything. Because when you were nudity to space. And there is a balance.
You need to know what it feels like to lose everything.
Because like you said, it can happen.
Like with UST, those people lost everything in the blink of an eye.
FTX, kind of the same situation.
For anybody that's gotten a rug, you know what it feels like.
You're looking at the chart one minute.
Normally, I feel like rugs happen when things are looking pretty good. So know you're vibing and you're posting with your boys like hey we did it
guys you're like oh nothing yeah this feels great and then it's just bam like whoa whoa whoa what
the fuck happened like hold on let me is this a glitch is deck screener fucked up like what's
going on like getting rugged fucking sucks, like super big time.
But yeah, you still like have to be able to balance
the dreamer kind of aspect of it
because dreams are still being made here every fucking day
with the, oh shit, I need to survive.
And that's really the number one thing I can say.
Like people are acting like,
oh, people are going to move to stocks now
because the opportunities in this space
aren't what they used to be and stuff.
That's like total fucking bullshit. You know, time in the game here is greater than everything. And I think, you know, for everyone, like you need to have that dreamer
mindset, but you also need to be able to make sure you still have ammo for tomorrow. You know,
I need to be able to, no matter what happens, continue to swing my bat because eventually
you're going to connect and you're going to hit a home run. But that takes time for some people. It's going to take a year. Some people
get really lucky immediately. Most of those people lose all their money. We've talked about
people losing all their money and especially there's this new wealth effect too. You start
having a little money, you start feeling yourself and you don't know, you're not psychologically
prepared really for how to allocate that money, how to preserve it, how to keep it, because it just feels like there's so much, it's just an endless supply.
And you've seen tons of people, you know, that have, quote, made it or done really well.
And now you're just kind of like, huh, like that doesn't make much sense.
You know, like, what are you doing now?
And like, did you lose your money?
Like, did you lose your money?
Did you, did you not like, were you not responsible with it?
Did you, did you not like, were you not responsible with it?
You know, which goes to, and we can talk about this later,
just like being, once you have made it,
would you have something just kind of being responsible with it
and making sure there's still something there for tomorrow,
no matter what, de-risking your crypto thing entirely.
Like the best thing in the world is being able to operate in crypto,
knowing that, hey, like if I, if my portfolio, for example,
went to zero today, like it would hurt the fuck out of me, I would be really sad about it. And it would hurt me in real life, but it wouldn't like destroy my real life, which is something I'm really proud of doing.
about it like i remember i've seen um i think it was average crypto trade average reply guy who
tweeted something like um every night you go to sleep ask yourself what happens if i wake up
tomorrow and everything is down 25 and i feel like this really should be the way people think like
yeah you you like you have to be a little bit pessimistic as well right you have to like
kind of be ready for everything to turn to shit.
And you know, there's a couple of approaches. Obviously, this means you will probably
underperform in a bull market if you're not, you know, going 100% mentally retarded and just,
you know, jump into everything thinking this is the great next thing.
But this means your survival rate will be so much higher. And Cred put this in a really, really proper way in one of his articles that he posted a couple of months ago.
And you mentioned it as well.
The beautiful thing about crypto is that it gives you massive opportunities for just insane profits.
Not just in the day-to-day trading of things, but just in those, you know, big things
that pop out of nowhere every six months or three months or whatever it is. There's just like these
opportunities that are massively outsized. And that's what makes crypto special, right? And
that's what makes people, you know, stick around. And your job is just to survive in between those events and,
you know, and just not get wrecked.
And, you know, if you look at the average person who made it B&L curve,
I would assume it looks something like, you know, a big pump up and then just a
big range for like three months and then another big pump up.
And, you know, that's just the beauty of crypto that you can just survive for long enough and you will probably make it just because there's so many crazy things happening.
Yeah, it's just higher highs and higher those really, you know, you want your portfolio to do that. And even though, you know, I have, like I said, I've lost like 90% of my money, like three or four times since I've been here. You know, I started doing crypto at the end of 2013 and December 2013, actually.
You know, we when I started, we had no idea like what this was going to become.
For me, it was just something, you know, that was fun to do.
I was a stoner.
You know, I stayed up late.
Like I used to browse the Bitcoin talk forums.
He was staying up late every night.
And back then, you know, it was you you had to be like quick to pull the trigger
because being able to instamind something, being early to something back then was a big deal.
And there's a couple of legends in that space.
The biggest legend undoubtedly was Shadowrunner, BTC, but he's, to my knowledge, not around anymore.
And then the second legend behind him was NotSoFast,
who still posts today.
He's another boomer like me.
And he's an interesting guy because,
kind of unlike some of the other boomers,
even myself, he's very flexible and he's been able to adapt.
But it was funny because even in,
I feel like when DeFi Summer and stuff was going on,
NotSoFast was still looking for spec mining plays and stuff.
But here's the thing.
He's a survivor.
People don't realize when you get in that survival mindset, eventually you hit these metas that kind of just click with you and you make a ton of money.
So let's fast forward to this market a year ago, whatever.
Jesu absolutely crushed the meme trade, not so fast.
But it's funny because, you know,
I feel like he missed a lot of that DeFi stuff and stuff like that.
But here's the thing,
he survived until something else presented itself that just made sense to him.
And something that I think is kind of different between, you know,
like now crypto and even like last cycle, 2021,
is I think that there's a lot of things
that are actually investable now,
which is something that I'm excited about.
And look, this could be proven to be wrong over time,
but I doubt it.
We're talking about the world's financial rails
are coming to crypto, right?
And they're being built on crypto.
They're being built on Ethereum. And even to some degree, Solana, which is just really, really interesting. These things
are here to stay. You can say what you want about the Trump administration. I know a lot of us are
happy in the sense that they haven't, I think, lived up to a lot of the promises they made.
But one thing that's become very apparent is, you know,
they're living up to the crypto side of things.
Like, they're making sure that the right regulatory frameworks,
the right level of exposure, the right frame of mind,
is able to be kind of put in place for crypto.
And another thing that's very clear, like, if you look at this, you know,
big, beautiful bill, like, it's, crypto, crypto is like going to go to the fucking moon.
The denominator is worthless.
You know, I genuinely, and look,
maybe I'm just a fucking idiot,
but I genuinely believe that the Republican Party
was interested in getting spending under control.
But they're not.
Like all these motherfuckers are going to come in.
They're going to inflate away the debt.
They're going to put a shitload of money.
The denominator is worthless.
Like there's never been a bigger bull case for crypto and and that's kind of been the bull case for crypto ever since its inception right um so i'm i'm really
excited to be here and you know for the first time even maybe like and i'm more you know ethereum
focused because you know i think that that's where the majority of institutions are looking and
and institutions are building but i think that there there's things on Ethereum that I can buy and hold for a very long period
of time rather than just treating everything like some kind of a cyclical pump and dump,
which is really exciting.
And two, we're kind of seeing this resurgence of DeFi, which is something that I just absolutely
Something that I just absolutely love.
love.
And there's very few of us that are still in love with DeFi.
You know, the new generation with these memes and stuff, you know, they don't get it in the same way that my generation, the people that do DeFi, we don't really understand the memes.
But that's okay because there's something for everyone, right?
But DeFi is a really cool trade because typically these DeFi tokens, the numbers go up as the fundamentals improve.
So really the game here is it's kind
of like a treasure. And that's the fun part of it for me. You know, you want to be on DeFi Llama,
you know, on CoinGecko. Do you want to be in all of these projects, discords, constantly like
looking for alpha, looking for reasons why the fundamentals are going to improve. And when I
of when i say fundamentals improving i mean tvl growth we want to see cash flow growth it's and
say fundamentals improving, I mean, TVL growth. We want to see cashflow growth. And also look,
also look it's 2025 like tokens can be valuable again tokens can do shit tokens can accrue value
tokens can return value you know to a holder tokens are becoming more and more like equity
um so like when i talk about liquidity or something like that on twitter i genuinely believe that you
know because i'm a huge ethereum bull and I think liquidity is very important for the future of Ethereum, I genuinely believe this is cheap and this is something that I'm going to be able to buy right now, stake right now, and hold for an incredibly long period of time.
I mean, potentially even forever.
And this makes a lot of sense if you're in the frame of mind that, you know, finance is coming on chain.
And that's what I believe, like 100% now. Yeah. And like you mentioned, you know, there's the
new gen that is focused on memes, mainly on Solana and stuff like that. And there's the older gen
that, you know, experienced the DeFi boom back in 2020 and like is really focused on that. And again,
DeFi boom back in 2020 and like is really focused on that. And
again, there is no right or wrong here, right? You can make
money in both ways. It's just that you need to understand what
you like, what you're connecting to, and what you're able to
just extract money out of really.
Yeah, you got to find your niche, you know, you got to
find your lane and then stay in it. And granted, like there are
some people I would imagine that, you know,
they can kind of just bounce like kind of between whatever.
But I think most people are specialized and people like to act like, you know,
memes don't have fundamentals too, but I think they do.
Because very clearly, like there's a certain set of people that are just kind
of better at the whole meme game than other people.
And there's something about the memes, you know, that are the underlying of these memes
that these people understand better than other people.
And meme fundamentals look a lot different than DeFi fundamentals.
But that's the thing, you know, survive long enough.
And like, I didn't understand the whole nft thing but that's okay because you know
i understood defi well um you just you just need to survive long enough and be here long enough to
where you can actually like find stuff that really resonates with you um and then become a master at
that and people don't understand like i think a lot of people like end up losing their money and
and blowing their shot and actually changing their real life because they're in such a hurry to get rich.
But they don't understand that for the vast majority of people, it takes a lifetime, you know, to build wealth.
Like your entire fucking life, maybe you build wealth and then maybe your children, you know, will have an opportunity to actually really benefit from
the wealth.
Like that's the path for most people.
You know, if it takes you five years in crypto to get rich and now like you start when you're
24 and you're busting your butt, now you're rich at 29 or 30.
Like you beat the system.
You beat the game.
Everybody wants to be rich tomorrow instead of being patient and realizing that, you know,
being rich in five years,
being rich in even 10 years is still like, that's insane. You're still really, really kind of getting
out of the curve. And you're doing better than, you know, almost everyone in the entire world.
Yeah, yeah, that's, that's key not to rush things. And again, it's also like, I feel like one of the
reasons a lot of people get also like just busted and lose out on a lot
of money is because like you've said each person needs to find their niche right you need to find
what you're good at what you like what you're what you can focus on and just stick to that
um and I remember that back in uh this was like last year when memes were really exploding and
like and I think it was earlier this year as well if you had like a some time
And a lot of people were ask asking me like hey Why don't you like hey there's this meme like what's by I'm like not not I don't do meme coins
I don't do like soul shitters and whatever and people were asking me like why and it's all because I trade perps
Right, I trade majors. I trade ETH and BTC and that's it and I like dabble in DeFi and that's all I do
And they're like, oh dude, you can make extra money on this.
I don't care.
Enjoy it.
I will most likely lose my money there.
So I have no interest in trying out those things.
I know what I'm good at.
I know what I'm profitable at.
I'll just stick to this.
There is no reason for me to start branching out and getting out of my comfort zone currently
because what I'm doing works, right?
And like, it works much better than I thought it ever would.
It's funny because, you know, like the skills required, I feel like to be successful in any of these like, kind of categories or areas like they do, like there is some kind of overlap between like the other categories, like as a perp trader.
I would imagine you are pretty good at managing your downside, and I would imagine you're pretty good at whatever charting practice you're good at.
Whether you're a TA guy or an order flow guy or whatever, those are pretty universal skills that I feel like you could take and kind of apply anywhere.
But it is really interesting. A lot of people try to come over
to the perp side of things
and they get absolutely wrecked.
I've got a funny story when,
I think this was,
obviously, 2017 happened.
And at the end of 2017
was the first time
that I became a billionaire.
It didn't last very long.
I'll tell you that.
Because it's really difficult
and I touched on this
earlier, but when you first are, when you come from nothing, right? And you're looking at your
wallet and you've held, you played your rotations well, and all of a sudden you're looking at an
enormous pile of money. The psychology is really interesting there because you almost kind of
freeze up. It's like a tear in headlights. Oh my God, there's so much money. What do I do? And it's funny, my first reaction when I saw a
big pile of money was, I just need to leave this alone. I need to not over rotate. I need to just
stay invested and not spend any money. And that's the responsible thing to do, right?
Well, unfortunately, I think my low seven figures
eventually turned into like 150K
in a matter of four months in 2018.
And I still remember the summer of 2018,
I sort of think I got bored
and I started thinking to myself like,
hey, I'm gonna go over to BitMEX.
BitMEX was really popular back then.
And I'm going to start trading Perpetuals on Bitcoin.
And I did.
And it's funny because, you know, Dunning-Kruger,
like you, I still remember I started doing this
and I'm a decent chartist, okay?
I'd say maybe even a pretty good chartist.
Not probably the best in the world.
But what I found that I wasn't very good at
was risk management as it applies to a levered position.
Risk management, emotional management, stuff like that.
Yeah.
And with leverage, everything,
not only is your money amplified,
but the emotions are amplified.
The major manager risk is amplified.
Everything's amplified.
So I still remember, you know,
I had like 30 Bitcoin I threw on BitMEX
and I was just gonna, you know, I was gonna run it up.
I was gonna be a perks trainer.
And it just didn't go very well.
Like, it's funny because you at first,
like Bitcoin was kind of chopping around
and this is like um when when
there was that floor around six thousand dollars you know before it had blown through the floor to
make the actual bottom and it was chopping um and i was trading the chop like a king and i thought i
was invincible um you know just but i was a gambler is the thing i didn't realize i thought i was a
purse trader but i wasn't because i wasn't doing any of the things these were the buy buy six six six days free money trade uh yeah and i just kept doing
that and then you know i was so confident oh yeah i'm long here i'm short here i'm long here i'm
short here um and eventually you know i just got blown the fuck out but i still remember the
euphoria of thinking that i am a god i can't lose lose, you know, I wasn't managing my risk at all, I wasn't using protection, no stop loss or anything, straight raw-dogging these trades.
And I still remember just being like, oh my god, you know, I made like 10k today, I made like 15k today, I made 30k today, look at all this fucking Bitcoin I'm printing.
And then I was wrong, and then it happened, you know, it was total bull death, it was a total bear death um it was total bull death it was a total bear death it
was total bull death we legitimately like at that moment thought it was going to zero and i remember
that whole 30 bitcoin account got like totally wrecked so the only thing i was left with is at
that point was my shit coins and i just said you know man maybe you are not meant to touch leverage
and i never have ever since you know i would imagine like for the people listening to this space, you know, nine out of 10 of you have no business touching leverage whatsoever. And the
sad thing is, is that, you know, I'd say three out of 10 of you are just, just know that and
realize that and the rest are going to have to learn the hard way. 100%.
And you know, it's funny that like the one person or the one or two people
out of like ten that can touch leverage and have a potential of like making money
out of it should never cross like 3x leverage.
You know, like I'm talking to people because like when I'm talking to people
in DMs and just in group chats and they're talking like they're asking me like,
hey, how much leverage do you use or like what's what's the position sizing and like
i'm sometimes i'm like 0.7x levered you know i'm like i'm like 1.2x 1.5x like in extreme times
when i'm very confident in a trade i'll go like two and a half x and people are like dude that's
like that's nothing i'm like how much leverage do you use and i'm like 15x like dude you how do you go to sleep and i think that's why i'm like this
is probably the reason i'm still around and still trading perps and like you know i'm able to make
a living out of it um because i'm i'm i'm just very very um skeptical know, I'm like, I go to bed, I'm expecting a full on retrace.
Like yesterday, we had a good pump.
I'm long ETH, I'm long BTC.
I'm like, ah, I'm ready to wake up and like everything is back down 10%.
And it's funny because, you know, once again, it's, it's a matter of survival, right?
It's, it's a different kind of survival, but the mission is the same,
you know, at the end of the day. Yeah. Yeah. Like crypto is a butthole and you need to be a
coverage, basically. Interesting. Okay. But yeah, I mean, there's just, there's so many things that,
you know, you have to, I feel like you have to just kind of learn and feel and see for yourself.
And, you know, like, it's, I think right now, like, just from a bird's eye view, I think crypto has never been as bullish as it is now, like, can we, we are going mainstream and once again, go
going mainstream presents opportunities that haven't existed in the past.
You know, getting these regulatory frameworks in place is going to allow institutional
allocation to defy, um, and, and crypto assets.
You know, of course you've got, it's interesting now because like, I think the, the new scam,
the new Ponzi is all these Bitcoin treasury companies.
You know, I've got some like hardcore Bitcoin or friends that are like, oh yeah, you know, I've done, you know, 10 or 20 of these treasury company deals.
And, you know, some of them I made 10x on, some I made 20x on.
Like everybody is pumping out these like mini micro strategies right now.
Have you heard anything about that?
Yeah, it's like crazy.
There's like 100 companies at this point.
And I was thinking the same thing.
I'm reading about those companies every single day on the feed.
And I'm like, I mean, this is good, right?
Like it's cool.
People are buying our bags and everything.
But there is no doubt in my mind this will be the reason that we have a very bad bear market
at some point
when they're all starting to unload their bags
and whatever. This might happen in like three,
four, five years, whatever. But
the way I see it, it's just inevitable
at some point.
No, I kind of feel the same way. It's just
one of those things like, and I'm not like well
versed enough in the underlying mechanics
and stuff to understand how it can go bad, but
it's one of those things that you kind of look at and you're like yeah you know that doesn't seem great
yeah just common sense to watch but yeah but yeah everything i agree with you everything looks good
like yes i like i agree looking at those companies is kind of like, you know, you see it and you're like, I hate it.
You know, I like it.
But at the end of the day, they're still buying.
They're still getting money.
They're still buying our bags.
They're pumping the market.
So, like, who cares, right?
But I have an interesting question.
So, like, how would you, if there's people listening right now, because cashing out and just taking profits is a really huge issue in in the
markets and people um like every time i make a thread or a post about like my opinions about
cashing out or you know just a picture of a kraken or coinbase withdrawal um you know being
approved whatever um people are like hey how do you how much do you sell what do you do like how
do you decide whatever so if there's anyone listening right now, and they're wondering how should they build
their cashing out strategy, how would you suggest them to look at those things and, and just
calculate all those things? And like, you know, I feel like I feel like there's two two kinds of
people. And, and this is, I think, the two kinds of people, the best way to describe it is
like, I think through a fitness exhibit.
So, um, like right now, so I'm trying to like get my elite dad bod mode on.
Right.
So I can mug all the other dads at the pool.
You know, when, when they see me, they need to know that I'm the big daddy, like that
daddy, like that I'm more muscular, more jacked, more whatever than them. And, you know, people
I'm more muscular, more jacked, more whatever than them.
are like, Oh, what's your, what are your, um, you know, what, or what kind of deficit are you
running and this and that? I don't like doing things like, I don't like being super strict
about things because I think that that takes the fun out of it. Um, so like their fitness,
what's your diet? Like, well, you know, I don't eat any candy.
I don't drink any soda. You know, I make sure I hit my macros roughly every day and I don't
overeat. And that's, that's about it. You know, I'm not going to be, and granted, I probably could
gain efficiency, but it's not worth extra additional efficiency is not worth no longer enjoying doing
something so you have to make sure you enjoy doing it now let's talk about trading for a second um
it's it's the same way with trading for me and and as long as you it is you know at the top of
your mind and it's something you're thinking about, I don't think that there's necessarily really any mathematical framework
that's needed here.
For me, it's more just,
hey, I've made some money on a bag.
Maybe it's time I sell 10 or 15% of that bag.
Or let's say I went into the bag
with the idea that this would be a fantastic, I call them like a multiplier trade. So sometimes I'll buy something with the idea that I feel like this is a really high probability, like near timeframe two to three X.
buying this, I could liquidate the entire bag and really buy more of the thing that I actually want
to be in for maybe a longer period of time or higher multiple and get that multiplier on the
front end. So typically, when I do enter a trade and when I buy something, I do have an idea of
what kind of trade it is to me. Is this something I'm going to hold super long-term? So that would be like
your Liquity or my Aladdin Dell bag. Or is it going to be something that I think I'm going to
be able to ride for some level of Xs and then flip into something that I maybe want to hold
long-term or put a little money in my bank account. That's like my Ampleforth bag
or something like that. So number one thing is you need to get addicted to selling.
People are scared of selling because, like I said earlier, but kind of rephrased, and I've said this
in other podcasts and stuff, it's hard to sell your dreams. And we go long because we're dreamers.
It's hard to sell your dreams.
And we go long because we're dreamers.
And when we're buying a bag, we're really buying a dream.
Could this be the one?
Is this going to be the thing that changes my life?
And some, very rarely, but there is a possibility.
And that's what makes this so exciting, right?
So selling a dream is really, really hard
until you are able to wrap your mind around the fact
that selling 10 or 15% of a dream after it goes up 5X,
if this thing is the chosen one
is going to do another 50X after that,
you're still going to make insane bank, right?
But the probability is that it's not going to be the chosen one.
And like you said earlier, like, oh, I, you know,
that pump yesterday, I fully like expected to wake up today and maybe it's down 10%, right? It's the same kind of expectation for an old bag. Oh, this thing's three to five X. Like there, there's gotta be people in profit and when people are in profit, they sell. So the expectation is it's up three to five X. Um, you know, maybe we're looking at the chart, looking at, uh, you know, momentum's waning or something like that, or we're at a a really critical level like where you would imagine other people are going to sell just psychology well you know
i've sold 10 15 here um then you know two or three days later hey this shit this shit uh coin is down
30 now i can buy back and have an even bigger bag because i still believe this is the chosen one
or i say, thank fucking God
I sold that 10 or 15% there. And it feels good. You have to get addicted to selling. And when you
get addicted to it, and I forget who coined the term exactly, but guys like Not So Fast and This
Is News, two OGs, have talked about for the longest time feeding the ducks. And it's just the principle of when you are up X's, take a little bit off
and have that cash. And what you can do is you can rotate and try to compound and maybe buy
other bags. Maybe you put that in your bank account to take a little stress off yourself
in the real life so you can think more clearly about your crypto bags. You just always have to
be in that seller's mentality. And you always need to be thinking ahead that, you know, and have a plan that if this bag
does this, then I will do this because it's very difficult with the emotions involved
in the moment to make those decisions and think about what you're going to do.
So, you know, have a plan, I think.
And look, selling does feel so good that when you start doing this, and once again, this is not like, you know, machine level algorithmic, like methodical or anything. It's just a mentality, just like I talked about earlier, when I'm trying to like, you know, look good at the pool or something. And I'm just thinking, hey, maybe I need to hit, like get a certain number of protein today. Hey, maybe I don't need to be drinking soda.
This is the same thing.
Hey, when bags go up, maybe I need to be shaving a little bit off.
And if you do that enough, then you will get addicted to it because it does feel great.
It's a huge sigh of relief.
It's a release.
It's almost like post-nut clarity in a sense.
Yeah.
When the money hits your bank, it's one of post not clarity in a sense yeah like when the money hits your bank
it's one of the best feelings ever like i i always write about it when i talk about uh taking profit
i like and i write that like if you've never cashed out if you've never withdrawn money from
crypto to your bank just do this once even like even just for the practice of it like deposit the
money after five minutes back into the exchange.
It doesn't matter.
Just try it out.
Just see those numbers in your bank and make them for once feel actually real.
It's unbelievable.
It's an unbelievable feeling.
Yeah, crypto is probably the future.
Yeah, probably ETH and DeFi is going to be massive and Bitcoin will be a world reserve and stuff like that but
but it's not yeah it's not yet right now we still use dollars we still use euros we still use like
whatever currency you're using in your country and um and you probably can't just buy an apartment
or a car with Bitcoin right um not everywhere so so yeah just when that money finally hits your
bank and feels real,
it's like you said, it's addicting. Like at some point you're just like, ah, I just want to cash
out. You live for it. And you know what, when having that realization and making that mental
connection that this, this isn't just this funny internet money, you know, that this is real,
I think does a lot for your psychology. And it helps you realize that, you know, that this is real, I think does a lot for your psychology. And it helps you realize that, you know,
that the next time you are down 90% on something,
and look, this still happens to me
all the fucking time, right?
Like, and if there's no one I would imagine,
especially the trades like I do,
that is not going to go through these insane,
like emotional swings and drawdowns and stuff.
But, you know, when it's part of the game it just is what it is you have to be a real psycho you know to be able
to hold something down 90 percent um and then somehow still end up making money because you've
just bought more and you had conviction you averaged down you believed in it um you have to
be a real psycho to do that like severe mental issues but once again once that money hits your
bank account and you make that connection
that, whoa, this is real, you know, I think it really puts the possibilities in perspective.
And once again, everyone here is trying to change their life, you know, and I think you
need to treat making it as a ladder, right?
People want to go from, hey, I'm living on a fucking mattress and a shithole
roach infested apartment i've been there okay to now i'm a millionaire and i'm driving mclaren
and i have uh an automars uh pejot or whatever the fuck it's called watch and you know i'm living in
a mansion like it's i wouldn't like treat this making a thing is this
like zero to one advance you know there's levels to making it making it is just being able to
improve your life and you need to start with the basics for me like the biggest improvement in my
life was being able to have my bills on auto pay you know i still remember when i stopped like
worrying about my bills back in the day.
Just being able to have them all on a card and know that the money's there and they're going to
get paid is a huge unluck. Like a huge unluck because you're not having to anymore think about,
well, you know, I'm going to pay my rent right now and then I'm going to pay by electric a week
late like when the next check hits. Trust me, big upgrade. Being able to fill up your gas tank when you go to the gas station.
Once again, being able to just throw shit in your grocery cart, you know, and go buy it.
Those are huge upgrades, you know, paying off a student debt that, you know, that shit is crushing.
Like my, my wife had a bunch of student debt and that's like one of the earliest things we did.
And this is before I would even say, I made it, made it or whatever.
We just had the money to do it.
So we did it.
We took care of it.
And was there a potential opportunity cost to doing that?
Could I potentially taken that money?
It was like $80,000 or something and flipped it into a million dollars.
Yeah, maybe if I was really lucky, but what if I lost it?
And then I hadn't paid off, you know, her student-
Which is way more likely.
Yeah. It was way more like I probably would have lost it, like almost guaranteed. But here's the
thing. I did something real. I did something real that I was proud of that made a real difference
in our lives. So for anyone listening, if you have the ability right now to do something for yourself
and make some kind of difference in your life that is going to make your real life better,
even if it's a little thing, I would really encourage you to do it and just see how it
feels because that's really like the benefits of that that you're going to get psychologically
are going to compound and really set you up for success here.
Yeah, it changes everything it
just changes your perspective on how you see this markets because like like the money you see in the
exchange and your wallet whatever it is it's it's just numbers you can't do anything with it besides
take another trade take another perps trade take another like buy another coin whatever that is
and then when you cash it out you suddenly realize, oh my God, I can buy a house.
I can buy a car.
I can pay my loans or whatever.
It just changes the way you look at markets.
I remember the first time I cashed out a large sum,
it made me change my whole perspective on how I see these markets
and how I can...
It improved me as a trader, a perform like as a as a participant in these
markets um so I really think that everyone should do this and like I'm not going to mention any
names but there's someone in the crowd listening right now who spoke to me in DMs talking about
how he has a large sum of money um and he wants to you know travel and stuff like that but he
doesn't know what to do with it because he doesn't want to pay taxes and he doesn't want to like announce it and whatever
well so he's like yeah i'm not i don't know i'll figure it out i'm gonna try to see if i can find
this like crypto card or something so the government i'm not i'm not a narc yeah i'm not
a narc and like i'm not gonna like rat on anybody and you know obviously like what you want to do is
what you're gonna do here's here's one of the problems with the world actually coming on chain, right?
Like we discussed and, and like this becoming mainstream blockchain is forever.
You're not, you're not getting away from your fucking taxes.
Um, and there's no statute on fraud.
So it's not like, Hey, if they don't find out for five years, I'm in the clear.
Like, it's not like that.
Like if you want to improve your life in the real world, it's fucking sucks. Trust me,
because I paid, I don't have bought the government like through some of us, like I paid so much in
taxes. But at the same time, like, you have to, right? Because I, my goal here was to improve my
life in the real world. And sure, there's some people that, you know, they want to play, you
know, be on the edge or whatever. I mean, how many years did John McAfee not pay his taxes?
You know, it eventually really fucked him, I think, in the end. But he didn't pay his taxes
for over. And there's several other people that didn't either. But look, they will find you,
they will get you and they will get with snows. It's just the reality of the situation.
That's what I told him.
Dude, just pay your taxes
because removing this headache
is a part of making your life better.
If later on this is an issue,
use this money that you just cashed out
and set up a company in Dubai.
There's so many solutions.
Imagine having to look over your shoulder
for the rest of your life
because you wanted to keep
a little bit of extra money. That's crazy. And the thing is, you look over your shoulder,
they're going to be charging you insane interest, they're going to hit you with penalties and shit.
You know, can you imagine they finding, you know, you think you made it, you're enjoying your life,
they find you in seven years, and then they take everything from you. Like, that would fucking suck,
and it defeats the whole purpose. Yeah, so, like, I had a couple of years of backfog in taxes that i i
you know i just found like a lot of uh wallets and stuff like that that i remembered that i
didn't do anything with them didn't pay any taxes stuff like that i paid huge fines like
almost double the amount i should have paid in taxes i was just fines um and and i'm still happy
i did it because like because because that's it i
i can i shouldn't i'll never think about it i'm moving money into my banks my banks freeze my
account sometimes they're like yo what the is my hey i here's the paperwork here's the logs here's
the tax returns whatever and that's it no issues no nothing and it's just better i don't know how
to agree with that but yeah i mean to to that guy you said you said he's in here and life is just better i don't know how to agree with that but yeah i mean to
to that guy you said you said he's in here and you know and i would never ask you to say who he is um
you know take the money out quit trying to be goofy with it take the money out pay your taxes
and go enjoy you know upgrading yourself in the real world if you're if it's your dream to travel
hey man you did it you enabled yourself um if you don't do that now um while that opportunity
is still there and you don't do it the right way we'll never forgive yourself yeah yeah and and
the thing the thing with taxes is that the longer like we became like irs uh promoters i'm like the
longer you wait the the more fucked up it becomes and the more mess it'll bring you. So like, yeah. But yeah, that's that.
Talking about cashing out and stuff like that,
gotta be a part of it.
The quote from this episode,
obviously the crypto was a butthole did really well.
Selling is like post-nuff clarity.
That's it.
It really is.
You think about it.
It's the new clip.
You're riding the bag.
It's like, you think about it. You know, you're riding the bag. It's like, you know, it's like everybody's been there.
I would imagine most people, you know, you're in your favorite porn site.
You know, you're looking for that perfect video, right?
That perfect scene, that perfect moment.
You're on page 20 of Pornhub right now looking for that video.
And you refuse to nut until you find that video and you find it and you
see that that perfect scene you're furious with beating your meat and then oh it's there you know
you come the post not clarity oh shit i'm a dirty motherfucker i need to close this this porn up
top immediately what the am i doing here what am i am I looking at? But that's the clarity, right? And it feels good. And selling is the same way when you're riding the bag. It's going up. You're on top of the world. I'm going to make it. I'm making so much money. It doesn't really become real until you make it real.
into that. There you go. That's a new that's a new clip.
Clip that clip that you guys have been you guys have been on page 20. Let's be
real. You know, let's be serious here.
You got to get that post not clear. I think that's right.
But I have a couple of extra questions I'm wondering just about trading overall because nowadays I feel like most people probably trade perps.
It's probably 50-50 kind of like people either trade perps or trade memes on chain.
What do you feel was your biggest hurdle or just like the biggest, toughest moment you've had with trading overall,
whether if it's perps or on chain and how did you solve that issue? And was just like the most
significant mistake or just challenge? Well, you know, I think I'm going to go back to 2016.
I'm going to go back to 2016.
And this is after a period that I feel was relatively similar to kind of what we've seen
now in crypto in the sense that, you know, a lot of things felt totally dead.
And I was on Bitcoin talk.
That's where you look for the alpha back in the day.
And I found this
new project called Decred and you know back then it didn't take a lot to make a project stand out
like um and Decred really stood out um it was fresh it was different they were doing some
really cool stuff uh there was you know ex-Bitcoin developers there that had written, you know, clients for Bitcoin and stuff.
Like, so you had the credibility.
And I was just like, this is my fucking ticket out of this hellhole.
I just need to go all in.
So I slowly started, you know, I got signed up, I posted on a Bitcoin talk because I think they were doing an airdrop campaign or something, you know,
and I started posting on the forums,
joined the Discord.
I, you know, started buying.
And Decred from that launch went down
over the course of 2016, maybe 90, 95%.
And toward the bottom, I stayed i kept buying i put everything
i had into this this shift coin everything um and towards the bottom i still remember looking at
that chart that had been down only for legitimately an entire year and thinking myself you are a
fucking loser you're the biggest retard in the world. You know,
I can't believe you believe in this. How could you like, it makes no sense, um, that the prices
has done this, you know, maybe you're just a fucking idiot. And I think anybody that's bag
held something down has gone through similar emotions there, especially like my preferred
method of trading
is like a kind of swing trader. And people always ask when I buy something too, what's your timeframe
on this? You know, what's your time horizon? When do you expect this to do what you want it to do?
And of course I have like internal like wishes and everybody has their own narrative when they
buy a bag, you know, right. This is going to go up a thousand X tomorrow. That'd be great.
But the reality is, you know, if you're going to be an investor and a swing trader, you
kind of have to just wait as long as it takes until maybe your thesis is prior to wrong
or your thesis changes or something like that.
But I still remember just that experience of bag holding something that far
down. And then, you know, myself and I don't see her around as much on Twitter anymore.
Marguerite coin artist, who's also a big D Thread holder, you know, we noticed a real
lack of online presence, community presence, et cetera, for D Thread. And we had bugged
the development team enough. These are all huge, hardcore tech guys.
And, you know, they don't know anything about communities or, you know,
socials or anything like that.
We finally begged them or maybe annoyed them.
There's a better word for it.
Enough to where they let myself and CoinArtist manage the community
and run the socials.
And that was a huge turning point.
And I think that's the first time. And I, I helped out
with that for five or six months. Decred ended up going, you know, 50 to 100 X from there, you know,
2017 came and it was just crazy. But that experience for me was a really, really good
lesson on having conviction and something despite the price and also working
for your bags. You know, a lot of people and it's, it's okay to be a passive whole, right?
But a lot of times it's the people doing the least amount of work in your community that want
to complain the most and they want to bitch the most and they want to tell you
are you not doing you know you the devs you're retarded you're not doing anything and they just
yap yap yap yap yap and they're not willing they're not willing those people normally the loudest
motherfuckers who complain every fucking day they log in to just flood their own bags those same
people are not willing to to go to work for their bag,
just like the dev team is going to work for the bag.
You don't have to be a developer to work for the bag.
So I think that experience was good for me
because I do enjoy working for the bag.
You can really help to educate other people
to come in the socials.
You can help spread the word about it on Twitter and other places.
You can help use the products and test the products and help fine tune and show up in
the products.
You know, a lot of these developers, it's really, really difficult to look at something
you made and say, you know, this needs to work here or there because you're proud of
it and you have these innate biases and stuff.
So that really taught me conviction.
It taught me pain and potential reward, you know, as a byproduct of pain.
And it taught me patience.
You know, one thing I think crypto has done for me in real life, too, is it's made me an incredibly patient and tolerant person.
is it's made me an incredibly patient and tolerant person.
Because no matter what I see in real life,
you know, it's just not that fucking bad
compared to me losing 90% of my money in a year.
I think it's just not, it's just not.
That's a terrible, terrible feeling.
And I would imagine anybody that's felt that
understands the level of despair and depression,
you know, that that can bring to you, especially
when there's other people that are making money, that are doing well.
So I think my takeaway, and just for my style of trading, which is I love finding diamonds
in the rough.
I love finding gems, and I love holding and seeing a thesis play out or not.
You know, I've done well because of it.
And I think one of the hardest things to do besides selling, and especially for this,
man, these Zoomers, these guys can't hold, you know, anything.
these guys can't hold you know anything um but but just being able to hold and and manage those
emotions um through the holder cycle through the bag of cycle and look some of these mean guys are
absolutely legendary holders um but unfortunately you know they haven't they haven't gotten to sell
you know part down yet i think i think a lot of the mean guys round tripped absolutely enormous money.
And hopefully that's a good lesson for them.
And maybe it won't happen again.
But there's other mean guys too.
Here's the thing.
There's counter examples like Baparol with SPX 6900.
This guy has held it low.
It went up.
It went down what?
50, 60, 70%. He held. It went up and went down what 50 60 70 percent he held
it went up and made a new all-time high that's some crazy level psycho shit um and and that's
something that i don't think i would be able to do you know that's extreme conviction and you know
my only hope is is that for these guys you know eventually it clicks to them that, hey, maybe $15 million in my bank
account is a lot cooler than being known as, you know, that meme guy on Twitter. And trust me,
it is. And a lot of these guys too are super young, you know, that have made all this money on memes crypto twitter is is full of a bunch of morons and sociopaths
and psychopaths any kind of path in the world that exists is on crypto twitter um in numbers
you don't need or want to impress these fucking people you know you take you just know a great
example is this dude that james swy, like burn a hundred million dollars.
That's so dude, that's so disrespectful.
This is mega generational money.
This is like an amount of money that will make your great, great grandkids remember your name.
And here's the funny thing about that.
I don't know how old this guy is, but, but he's not the first to just lose an absolutely outrageous sum of money in spectacular fashion you know look and
i am i'm in my mid-30s guys like trust me if i could go back and i talked to my 20 21 22 23 year
old self because that's when i started this shit i would tell him a lot of things i guarantee you
probably wouldn't
listen to half of them because he thinks he knows everything um but but i'm telling you you know if
if you are that guy right now you're 23 24 man if you fumble this bag if you fuck this opportunity
up for yourself there's there's a high very very high probability that a lot of what happened to you is luck.
A lot of what happened to me is luck.
That's for sure.
You know, time in the game increases your luck, right?
So what happened to you is luck.
And you just picture yourself, you being in your mid-30s, wage cock, going to fucking work,
putting the fries in the bag.
You've got mouths to feed. You're
fucking married. You've got a wife. You've got a fat mortgage payment. And you look back to
yourself when you're in your early 20s and you say, man, I had eight figures. What the fuck
happened? Do your older self a favor right now or you will fucking hate your younger self when you get older and you
are going to get older is the thing it's going to happen you know make it so that when you look back
you're proud of yourself you did something mature you did something growing up you did something
responsible um you know have some accountability and and look at that money and make it real and make it last. That.
Amen to that.
Well, I have one last question that I want to ask you.
It's something we ask all of our guests.
But before we go to that question, I want to remind to all of our listeners that there's a chat box in the bottom right corner. You can click on it and leave any questions that you have.
And we'll touch on them in a couple of moments.
But I was wondering, what do you feel making it is?
And do you feel like you've made it?
I think I've already talked about that several times.
Making it, just going back to the ladder analogy, and I'm not going to get into it,
but making it, just going back to the ladder analogy, and I'm not going to get into it, but making it as a ladder, you know,
take one tiny step at a time.
Improving your life in any way is making it.
You know, I've got a family.
I've got a roof over my head that I own.
You know, I've got some cars that are paid for.
I have my bills on auto paid, you know?
Do I have a private jet?
Um, but the thing is, is the older you get, I think you, you start to realize more and more the things in life that actually matter.
Um, that's your health and that's your family and that's your friends.
Um, and that's your happiness.
You know, every day that I live is just a joy to be alive because I'm living my life on my terms. And I think that's what making it really is. And I hope, it's my genuine hope that at least one person listening today will do something, even if it's a little thing, and improve their life and look back in this conversation and say, you know, wow, he was, he was so right about that.
Um, and, and it doesn't matter once again, whether improving your life is, you know,
paying your mortgage off or just having that cushion in your bank account to where you're
not worried about paying you rep, do something for yourself, pay yourself.
at yourself, so you're able to stay in this game.
So you're able to stay in this game.
So you're able to survive.
So you're able to survive.
The longer you survive, the more runs of this make it quote ladder
that you'll be able to climb.
Um, I definitely think by my definition of made it, that I've made it.
Um, just in the sense that once again, I live my life on my terms.
Um, and look, life's not perfect.
And you'll understand that, you know, as you get
older, there's still going to be ups and downs. You know, money doesn't really buy you happiness
beyond a certain point. You know, once you have the ability to kind of dictate your own life,
that's maximum utility, you know, for, for making up for money.
You know, do you think that, that buying a supercar will make you happy? Who will for a
couple of weeks? You know, I bought supercars. I thought it would make me happy. But it doesn't,
you know, and that's okay. There's some people that, that like those kinds of things.
But I think the older I get and the more mature I become, and I'm still getting more mature
every day, you know, I don't think that ever stops. Once
again, you realize that, you know, there's certain things
that matter in your life, and then they're important to you
and living as simple of a life as possible, is where you're
going to get the maximum happiness and the maximum
utility.
Yeah, 100%. I feel like a good example is that I'm going to be 30 in a couple of months,
and I fully agree with everything you've said. And like in the last year, like five years ago,
I was already in crypto and I was already like, you know, making some nice money from it um in like 2020 and you know i did have
this like materialistic phase like buying a couple of watches buying a nice car you know renting like
a mega apartment in like the city center i lived in oslo i rented like a crazy penthouse and like
city center everything um and like nowadays i'm just like i just want as least amount of headache
as i can like i just want to least amount of headache as I can.
Like, I just want to solve all of my problems around me.
And that's I don't care about like I'm renting this like basic Nissan Note right now.
And I don't care about I don't care about anything else.
I just want to go to the gym and like have no issues.
And like I remember my friend was telling me a couple of months ago when I moved to where I am right now.
I was like, dude, buy yourself like a nice Mercedes or like a BMW.
I'm like, yeah, but what if something happens to it?
I don't want to take it to the garage and like, you know, deal with it.
So I'll just rent this thing.
What I have is fine.
I like it.
Yeah.
It's all in that.
I think that's a very mature perspective.
You know, and I think one of the traps that people fall into, you know, when they do lick, they make that money, is the first thing, and this is just because we've been conditioned by what we see on social media.
The first thing people want to do, and I'm guilty of this too, is they need other people to know that they're bald.
Like you said, you had this fancy apartment and this and that.
For me, it was other things.
I had some nice watches and some nice cars
and things like that.
And I still remember going to go to the gas station
and people would look at me,
I was in a supercar or something,
and I was like, yeah, they know I'm balling.
But in retrospect, it was so silly and so stupid
because it doesn't matter at all.
And when the novelty of that and the supercars were off and stuff, it, it truly like clicked that that was like just totally fucking returning.
If you need to do it, get it out of your system.
But trust me, you know, I think everybody comes to the realization that, you know, just being able to, to, you know, solve the problems of yourself and those,
those people around you and, and really not having to worry about having to worry about
money is like the number one cause of anxiety, divorce, like everything fucking bad in life.
So if you are just able to not worry about money, even in the sense that your bills are on autopay, trust me, like that's a huge upgrade to your life. So if you are just able to not worry about money, even in the sense that your bills
are on auto pay, trust me, like that's a huge upgrade to your life.
Yeah, well, there you go. Well, that's pretty much it for me. Seems like our audience is a
little bit shy. No real questions. We have Joseph. We's okay. We have Joseph asking retired parents or buy a Ferrari, which I think you'll
pretty much answered.
Oh, well, well, well, that's look.
It's I think doing something for your parents is extremely admirable, extremely
admirable and, you know, I would, I would applaud anybody that, you know, has those ambitions
and those goals.
If you are able to retire your parents, you know, and I would imagine like you're probably
in your twenties or thirties, like your parents are going to be on this earth for another
20, 30 years.
Like you imagine how good your relationship you know will be with them imagine
how proud they'll be of you um you know imagine like your parents you know did everything for you
and i think one of the few things people or one of the things you realize when you get older if
you ever become a parent um you you don't realize how much your parents love you until you have your own kids.
And you're like, damn, I love my kids because your parents felt the same way, feel the same
way about you.
That's what really clicked for me.
It almost makes me want to get emotional about it just because of how much I know my parents
loved me.
Um, you got it. You got to be able to do stuff for yourself too. just because of how much I know my parents led me.
You got to be able to do stuff for yourself too.
I really just want you to keep that in mind.
Make sure that doing something for your parents doesn't compromise your ability to do something for yourself.
But if you're able to do both, I would do it.
Yeah.
It's a good point about the moment where you have kids of your own.
When you start putting them to bed spending all the time and effort and like all the troubles and all the good moments um like i was putting uh the kid to sleep a couple of
days ago and i was like ah this is hard you know like this is what my mom had to do every single day for like six years.
That's crazy, isn't it?
So, yeah.
That's crazy.
I didn't know you had kids.
No, I don't have kids.
I'm seeing a woman who has a kid, like a single mom.
So I'm pretty much in those shoes.
Get it, yeah.
We'll get it.
Hopefully.
It's an interesting experience.
Yeah.
And that's cool. That's cool.
You're able to be there for her.
Hopefully one day, you know, one year on, maybe, you know, God willing.
And you'll see exactly what I mean.
I think anybody listening is exactly what I need to.
It's just crazy how much you, you know, they can just do anything.
And that's why I think looking back and like, you know, you know, no wonder I got away with
so much shit because I was, I was the biggest,
biggest problem in like middle school and high school. I was legitimately terrible and my parents just never gave up on me. And I'm like, man, like, hell, what the fuck? Like,
that's insane. But now I get it. Yeah. It's like every single friend of mine who has kids tells
me the same thing. It's like, you, you think you like have the idea of what important means and
what living means and then you see this thing in front of you and realize this has your blood
in it and you're like everything else becomes so tiny like everything else means any loses
and it doesn't mean anything and this is like the biggest thing you've ever could have dreamed of.
It'll grow you up fast.
Yeah.
Well, you know what?
I have an interesting question.
One of my friends told me he didn't really feel connected to his kids
until they were like six months old or like a year old.
months old or like a year old.
That's, that's pretty common for, for men, right?
That's pretty common for men.
Yeah, for men, right?
Yeah.
It's, it's, it's interesting because, um, you know, and obviously like having
children changes the entire dynamic of a marriage, you know, and, and one of the
things that, that happens immediately, um, is your, your friends change because
it's very difficult to be, you know know in a marriage with a child especially newborn
and still hang out with the people without kids anymore because you're not going to
dip margaritas at 10 p.m on wednesday night at the at your favorite mexican restaurant anymore
with your buddies you're not you're in bed because you're fucking exhausted you got to get up at 6
a.m the next morning um. So like, like that happens.
But also, you know, when that baby, like the baby is extremely reliant on its mother for that first kind of six months.
And it happens in a lot of men, a lot of them, it doesn't.
You know, I was fortunate enough to not go through that, but I have friends that did.
But it's around that six month mark and it's interesting too.
And of course, the baby's going to giggle and smile and stuff. but I have friends that did. But it's around that six month mark. And it's interesting too.
And of course the baby's going to giggle and smile and stuff around the six month mark, you start to see the personality come out. And that I think, you know, enables a really strong
bond of form between the father and the child. Because you start, you might start seeing a
little bit of yourself, you know, in the kid. And that for me was was really special i still remember you know when
when my daughter and was just like looking at me a certain way and i was just like you look just
like your mother like when you look at me like that um or you know she laughed a certain way
and i was like that's that's so me and it's those kinds of things um but yeah that's that's totally
normal um it's weird but it's
normal i think a lot of men are afraid to talk about it because it's you know the stigma associated
but yeah it sounds like it might sound a little bit vicious to people from the outsiders yeah
yeah it's not though yeah it's totally normal i i think i didn't experience it yeah no it totally
i had multiple dads like warned me about that so i'm like i've been yeah yeah it just didn't experience it. Yeah. No, it totally was. I had multiple dads like warned me about that.
So I like, I read it.
Yeah.
It just didn't.
Well, these are, I guess these are.
Yeah.
Well, I was just saying, I think, you know, one of the biggest things for me is, you know,
I'm essentially a stay at home dad.
So, so I think maybe with a lot of men, like, you know, women get postpartum and leave and
they get to spend a lot of time to, you know, with the child in bond.
But a lot of men, you know, you're back to the minds, right?
Like a day or two after birth.
And, you know, baby needs shoes.
So you got to go bring the money.
And I was fortunate enough to, you know, I got to be a stay-at-home dad and I got to be there every day, you know, my kid.
So, you know, I think that was useful for me and that, that once again, kind
of returns the whole, you know, how do I know I made it?
Like that was one of the things.
Yeah.
Well, these are, these are great two takeaways from this, this space, cash
out and make babies.
Make babies when you're running.
Let's look into it.
It really is a, it's a, it's a wonderful thing.
Nobody needs to be in any of us to do it.
Yeah.
Well, um, is there anything else you want to add?
I don't think so.
Um, it was, I don't think we've ever spoken before, you know, aside
and like interacting and Twitter here and there and stuff.
Um, so, you know, you're, you're a great host and I enjoyed talking with you
is very easy for anyone listening.
Thank you for showing up to, to listen to, you know, old washed up, uh,
boomer DeFi dude, you know, hopefully I didn't bore you too much.
Um, and you best of luck to everybody.
Once again, I just, you know, the one thing,
you know, I hope at least one person listening takes anything I've said to heart.
These are all lessons that I've learned through experience.
You know, if I was listening, I probably wouldn't change
and probably wouldn't take anything to heart
because I'm a stubborn son of a bitch,
but there are people, you know, out there
that do have the ability to listen and and learn you know without
how to learn the hard way themselves you know best of luck to all of you i hope you all make it in
your own way um and as long as you can survive here i'm i'm 99 sure everyone listening will
eventually make it in their own way so we just keep swinging the bat don't give up 100 and yeah
this was really fun man uh thanks a lot for
coming i uh you know when we were chatting and uh you said let's just free roll with it let's just
discuss everything and have fun i knew this is going to be a fun space uh so yeah we never spoke
i've been following you for years now but uh so yeah it's nice to to finally chat a little bit
oh for sure thanks for having me man yeah yeah my pleasure man
um maybe someday we'll do another episode talk about um would always be down to come back i had
a good time awesome dude thanks a lot and yeah uh before we end uh the space a couple of announcements
from uh uh from kuma and just uh first of all, thanks a lot for coming to all of our listeners.
And we will have updates on new episodes and the upcoming episodes on the Kuma account.
And a recording will be available once this space ends.
And I will be posting notes from the space
on Monday around the US Open.
So check my profile to see those notes
if you joined in the middle
and you're too lazy to
listen back to the recording or something and um and yeah well that's a couple of last things about
uh kuma first of all again thanks a lot for them for making these uh spaces happen and uh you know
for hosting these spaces if you haven't tried kuma out you should we're currently long we launched
this week a trading competition uh we're giving out extra three thousand dollars around three thousand dollars
and rewards for the top ten people I think it is but yeah if you haven't
tried Kuma out yet you want to try to participate in the a thousand bgt we're
gaming out every single day which is around twenty thousand dollars a week
and participate in the trading competition
that we launched all you have to do is to click on the link in my bio you'll have 25 off of fees i
don't even make any money from the referral link this is just for you guys to have a discount on
fees um and yeah so give that a shot if you want to you don't have to but you should we're trying
to build a really really nice uh product for you guys to use.
So we're giving out $20,000, around $20,000 a week in BGT,
and we're giving out extra around $3,000 this week
in the trading competition, which will continue to run until Monday.
And we have weekly raffles.
We're giving out $1,200 in BGT every single week.
All we have to do is to make trading volume and you'll get raffle tickets.
Every $100 in volume gets you in.
And yeah, one last thing is we launched a couple of weeks ago, we launched Kuma Academy.
If you don't know anything about trading, if you want to learn a little bit more about DeFi,
about news trading and stuff like that, we have a bunch of articles already live in the Academy written by people much smarter than me.
We have an article that dropped two weeks ago written by Nexus about news trading,
which was really awesome to read.
He wrote it after making it to nine, i think um like eight figures um and just his
his process of turning uh like four thousand dollars to ten million uh within three years
so if you want to read that go ahead and check the kuma academy out really really awesome resources
and um yeah that's pretty much it the last thing if you don't follow Chad
make sure to click on his profile give him a follow uh fantastic accounts as he's in my personal
lists of people that are I follow and I'm actually interested in seeing their tweets so I think you
definitely should be in your lists as well um good good uh addition to the filtered lists for sure and yeah that's
pretty much it guys thanks a lot for coming we'll see you guys next week i think no the week after
in two weeks and uh yeah recording available after this space ends and notes will be available on
monday see you guys next time. Bye bye Chad. Thanks for coming.
