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supercycle (real)
Recorded: March 21, 2025 Duration: 1:40:22Space Recording
Short Summary
In a dynamic discussion, crypto enthusiasts explored significant trends and growth opportunities in the blockchain space, including strategic partnerships, token launches, and the evolving landscape of DeFi protocols. Key highlights included BlackRock's potential ETH ETF, the migration of liquidity to Pump Swap, and the rise of cloud kitchens as a new business model.
Full Transcription
Okay, we are live.
Oh, this is a little fucked up.
Probably refresh that.
So how's the timeline been?
Haven't read much timeline.
How about you?
Yeah, I don't usually read a ton of the timeline stuff.
I usually just go in and see whatever's getting spammed
around group chats.
Yeah.
I think the main thing was the Trump,
he's supposed to speak at the DAS conference,
but he did a video instead.
So people were a bit upset about that for
like an hour and then they find no Bitcoin did a little and oh man we broke
the level sitting on a retest this is pretty beautiful man yeah looks fine and
then Trump had a meeting sorry David Sacks had a meeting Sorry, David Sachs had a meeting with to noon
Shake to noon
Who managed a lot of money in Abu Dhabi? They're talking about AI and crypto. So that's obviously very bullish. Yeah
I think there's been some some
Talk from black rock guys also about eat about how they're gonna push the ETH ETF, staking is coming soon, that'll be bullish.
So yeah, it looks constructive.
I mean, other news like pump fun, loss of decks.
Obviously, Ox, we migrated some liquidity from Radium to pump swap.
I think it's the third largest pool now on pump.
You can go to deck screener and see it if you want.
You go to deck screener and then pump swap.
Oh, sorry, just go to deck screener first
and go to slana.
Click slana, then just click slana on the left.
On the left, Lucas.
On the sidebar, yeah.
And then there should be pumps swap.
Yeah, so there's pump swap on the top in the middle.
You move your mouse to the top in the middle.
It's actually really humorous now.
Yeah, there you go.
And then, yeah, you sort by liquidity.
Yeah, so Ox is the fourth biggest pool on Palm Swab right now.
This is Pingu, Drift, Jupiter.
This is Pengu, Drift, Jupiter.
So yeah, so I think that they're basically trying to say that they capture all the volume after stuff graduates as well now,
because before, right, it graduates into Radium.
And now it's going to graduate into their own AMM.
So that should be pretty bullish for pump long-term protocol value.
Now, of course, like radium is going to try to compete with pump now and also do like
Lush pad stuff.
So token creation stuff.
I mean, it seems like why wasn't this a thing sooner, I guess.
Like, this seems like a good play, eco-wise.
I've been trying to build this for months, right?
I mean, for a long time, it didn't really matter.
It didn't really matter for a long time
because it's almost making so much money anyways.
But I think now that revenues have started to cool
and the market's getting more mature,
people have time to say,
okay, how much of this pie should I be getting?
Should I be getting more of this pie? More of this revenue?
So, yeah, I think it lets them lower fees.
I mean, I think pump made pump pump on advanced.
Yeah, I have heard that this like
it can be a little bit dangerous if a pump brand because I think
you're allowed to launch tax tokens through this.
Whereas all normal pump launches like don't have tax, right?
So there's a little bit of risk there.
But yeah, as long as they get it well, it should be fine.
Because I saw the risk as in like someone else can take the ecosystem money by
having a tax token, the revenue as opposed to pump.
No, no, no, no.
That's not what I mean.
I mean, like right now, if you, if you launch a token on pump fun, right.
You, you cannot launch tax tokens on pump fun.
You can't launch honeypots on pump fun.
That's the whole point.
Uh, if you launch tokens on pump swap, if youaws on PumpSwap, that's the whole point. If you launch tokens on PumpSwap, if you do that, you can launch Taxo.
So it's basically just that you can ball out and make a custom contract if you launch on
PumpSwap now, whereas PumpSwap doesn't.
Yeah, exactly.
People may not know if it graduated or if it was just like launched on pump swap. So that you're still gonna have the thing where it's like, it says pump at the end, right? Yeah.
Yeah. Like it says pump if it was launched on pump, if it was launched on pump swap, presumably, it's not going to have pump at the end of the CA.
Yeah. Okay. They're probably good. They're probably good.
Yeah, it's pretty exciting for them.
I think they've been doing it for months.
How's it actually look?
When do we go to pump swap? You can go to swap.pump.fund.
You can see it there, I think. So they kept the aesthetics, but they got rid of the sort of shaking like epileptic buttons
that were going on.
Okay.
It's pretty minimal.
So it's like, yeah, it's like a pretty nice normal swap here.
Pumped out, pumped out fun 2025. I gotta say, dude, like I was really scared typing this
in. I expected that I was going to see like 32 shaking buttons up here. Whoa, what is my mouse doing there?
And I was just getting like preemptive PTSD
from the PumpFun website. Like I think I'm just too old
to be seeing so many flashing buttons like that,
but I'm glad that at least for now
it appears low flashing buttons mode.
Yeah.
I do find the site easier to use than radium v2, although radium v3 is very similar.
These are all the same. It's like the same mechanisms. They all copy each other. So yeah,
just about brand, about user lock-in. So yeah, I I mean how many different ways are there really to do like actually isn't uni?
Uni came out with V4 right?
Yeah uni before is out.
What's the difference there?
Do they allow you to like change your LPs like more?
Yeah, so before has hooks.
The big thing is hooks.
So hooks lets you do stuff where like the
capital is not actually in, like the capital is not actually in the pool yet, but it's
being LP'd and then it gets pulled over once it's needed. It's like just in time basically.
Which is kind of cool. So you can earn yield on your ether before, like let's say you LP
something versus ETH.
Your ETH could be an AVE or something
and then it only gets called over when it's needed
to actually trade with.
But it's still in the ETH.
So it's like flash loans for LP?
Yeah, if that helps, yeah, sure.
I mean, it's just like, it's like double allocated.
It's like, it's over here, but it's also over there.
Yeah.
Anyway, do you guys think this kills radium?
No, I don't think it kills radium.
I think all the original pumpkins that have been locked,
those will stay in radium,
because you can't migrate those.
Those are like locked and burned LPs.
So like we're talking about fart coin,
goat, peanut, and the list goes on. But those are like pretty big volumes for Radium.
I think Radium is only down 10% today, it's not like that big.
Longer term, like if the new pump launches go much higher than the old ones, and then
the old ones die, then it's not great for radium but you know radium could also just do a very aggressive pump strategy
right that they could say you know we have the pump product and like it ends
with the brain instead of pump and the fees are zero and we give you tokens or
something I don't know it would be formidable like I think people thought
deck screener is formidable but I don don't think it really is as much because
Dex Screener is like, I mean, it's like, it's not known as a place you would launch a token,
if you know what I mean.
And it's not, like, they're missing too much infrastructure, I feel, for it to make sense.
But I'm not I'm not that bullish on someone overtaking pump in general on slana for launching
because I think launchers are kind of lazy and they want to go where everyone else is
comes a coordination point.
Like, it's really hard to say it's like a party that's like overpriced.
But then people are like, let's go to to this other party but you're not sure that someone
else will go right so yeah power move by pump yeah gigachad I wonder I wonder if
the new launches that come out are going to rip on PumpFund more so than on Radium,
or if it's just like... Because the Solana market is pretty highly mobile, right? When the new thing
comes out, people abandon the old thing pretty quickly. Mobile in what sense?
mobile in what sense?
Well, it's like if you have money on ETH, like the velocity of your money, if you have
looked at it over the last two years, it's probably much lower than if you have money
on Solana, right?
Like it's been moved a lot less on ETH.
On Solana, it seems that like if someone thinks that something has like a slight edge
They're much more willing to just try the new thing really quickly
And I think if there's a big thesis
That pump is going to kill it
Pump has a lot of room though, like because they have so much for revenue, they can get
Pump is a lot of room though, like because they have so much for revenue
like the terminal partners, the bot partners to do stuff with them.
Yeah, I mean, that's what I'm saying.
Like I think if there's like, it seems like everyone thinks that pump is just like a bigger
brand generally than radium.
And so they're like, I'm going to bet on Apple versus versus Nokia or something like that.
Yeah, yeah.
Like I think Radium last cycle was in this top five group of Solana ecosystem,
like Serum, Radium, Orca, and a few others.
And I think this cycle you've seen like boom, like Jupiter came out from the Mercurial
team Meteora and then it, you know, Jupiter won Aggregation. And Radium kind of, you know,
it's a very good team. I think that they kind of won AMM in part because that they were, you know,
pump graduated into it but longer term
Did they do enough new stuff this cycle? That's the question right? Maybe the answer is no
Maybe the answer is no, so I think that that's the challenge I
Mean it's kind of cool that you have more people competing. I guess Like Meteora was good, but it was like good for like LP stuff.
Yeah.
What is that noise, sir?
What are you doing?
Plastic.
What are you fucking around with like a plastic wrapper off camera again?
There's always plastic wraers involved when I stream. Dude, this new display of the comments is very,
I don't know, it goes very well with this avatar.
Like it's kind of, dude looks pretty chill.
It's chilled out.
Is there still hope for Ethereum bro?
Yes, there is hope.
I think we're starting to be like Ethereum bulls now at this price.
I think it's okay.
I think it's okay.
It's not going to put a one put it that way.
It's just too. Yeah, not as much as before.
But I think it's still bullish.
I mean, look, you have an environment right now where Eric Trump, World Liberty Five,
Eric Trump, you know, the President's son is like, number
one, eat KOL.
You have liquid staking coming.
I mean, not liquid, ETF staking coming.
Does it really matter?
No, but nothing really matters, right?
In general anyway.
So it could matter in the signal.
And then if there's been enough capitulation in Ethereum, you know, crypto native world,
then the bankers buy your ETH, right? And then they pump it themselves.
But when the bankers pump it, of course, they tell each other different stories. So they tell each
other stories about tokenization, BlackRock type stories, RWA. They will not be telling NFT stories
or meme coin stories or like, you know, restaking stories.
So the story set changes, but I've seen this happen to Bitcoin a couple of times where,
you know, people bought it for very different reasons and then new people came and started
to shill it for new reasons. Same thing happened with ETH itself several times. It used to be a different thesis. And then that kind of became the issue.
So I think long-term it's gonna be fine,
but I think you'll see just like a big change
in who is in the coin and how it's how it's presented to the public, right?
I think my XRP everyone's saying like eat this day because the crypto natives failed at this and that like that's all true.
But that doesn't mean eat the acid is that you can have a CCTL that happened by institutions over time.
Then it's a very good candidate for that because it's the number two coin.
Right. Like Ripple, Ripple, Ripple is totally fucking different than it was like three years ago. candidate for that because it's the number two coin right like ripple um there's no reason why
for ripple is totally fucking different than it was like three years ago like i remember the ripple
pitch and i'm hearing a totally new ripple pitch to the extent that i was like did somebody relaunch
ripple like did something like this is literally not like the same thing at all that i'm hearing
uh so yeah you can always just like completely
reinvent the narrative, I guess.
I agree. So yeah, so I think, you know, if you've held it to here, it's fine. You know,
you know, I'm not gonna lie, I've never seen American spirits avatar this big before. It's
sort of unsettling at this size.
I always sort of thought that it was a little twink guy in a MAGA hat and now I'm not sure
what I'm looking at.
That's a woman, right?
This is a woman.
Yeah, yeah.
I always thought that it was a male programmer for some reason and now I'm realizing it's
like a woman and like that's like just an embarrassing mental misclassification to have
realized that I've been making this whole time.
I mean, I need to be in shape.
Oh, he's gone.
Yeah, I did hear about this though with the permission pools.
It's kind of I don't know, like I'm kind of I'm kind of pro the permission pools at this
point mostly because like, you know, fuck it, I've already doxed all my shit to the
government.
So like, why not let me just buy my stocks on chain, I don't want to have to fucking off ramp like, I don't want to, you know, like, I don't want to have to go and take this stuff out of crypto so that I can put it into stocks, just let me keep everything on chain.
it gets really stupid when you're dealing with having,
you know, it's like you have your money on this chain
and this chain and this chain and this chain
and then beyond that you have it and like,
oh, well, this is what I have in my like
this brokerage account and this is in this fund
and this is in this business account.
And like, I would just like to have everything
at least in one ecosystem, right?
If the broader ecosystem is crypto, that's cool.
So like having me be able to invest in tokenized stocks
and equities is like, that's kind of cool, I guess. Like, it's not like I have a ton of them,
I'd probably buy more, right? Like, I think I would probably buy more stocks if they were on chain,
because like, just off ramping is such a pain in the ass.
Off-ramping is such a pain in the ass.
Yeah, it's true.
I think it's bullish for our RWA narrative.
It's also bullish for crypto natives
maybe buying stocks through this.
Like I think emerging market people will use it as well
because they can't open brokerage accounts as easily
and the fees are really high when you open them.
So it's really good. Yeah, the fees are really high when you open them. So it's really good.
But yeah, the fees are really stupid. There's a bunch of just like annoying,
like loopholes and regulatory nonsense is you have to deal with. And like, honestly,
somebody is going to bridge like a mirrored token. So you'll just be able to have a bunch of,
I mean, you'll be able to have a bunch of retail investors
investing in things that are explicitly like not available to invest in as a retail investor in the
US, which I think is kind of funny, right? Like I'm a, I'm a giga free markets bull. So like,
you know, let, let the, let the average common man invest in things that they might not understand.
I've also been convinced by this cycle that the market does learn, right?
There was this idea that you need a bunch of protectionist policy because the average
retail consumer is a retard and they will lose all their money gambling on hypervolatile
assets.
And it's like, I no longer believe that that's true.
Like I have watched total idiots become very savvy
to like the scams of financial markets.
And yes, there will be a period where broadly
a bunch of retards get scammed
and a bunch of smart people will get scammed too.
But like eventually they'll kind of figure it out, right?
And they'll become like very, very critical.
And it just makes everyone better investors.
Yeah, I mean, the problem with regulation in general
is that you're always fighting the last war.
So you're fighting what just happened.
So, but the market tends to invent new mechanisms fighting what just happened.
But the market tends to invent new mechanisms and new ways of blowing up itself
that kind of over time become like really obvious,
okay, that's what would have happened.
But in the moment, the regulators are like,
okay, we don't really see the risk here
or we don't understand it well enough.
Yeah, and the people who scream about like whatever the new way of blowing up is for three years,
they all just mechanistically understand the market well enough that they know why this
is going to happen.
And everyone who doesn't understand calls them schizophrenic.
But like, it's, it's also like you only get to that point where you can even say, I know
this is going to blow up because of XYZ reasons.
If you have like already seen enough things blow up, right?
And you don't really see the things blow up
if you don't participate in the market
because the US government says
you must have at least $2 million liquid capital
to even buy this shit.
That's true.
I mean if you think about like the protections that the market used to have
I mean, if you think about
for stuff like junk bonds right like in the 80s what happened there was like
like Michael Milken basically invented the idea that you could buy out
companies by issuing bonds to normal people normal would buy these bonds
because the yields higher than
They pay a higher interest rate than sovereign bonds and then through that you can then buy these companies
You know fire everyone get the pension money
Pay out the dividends that you can cover your loan and then you have made money out of nowhere, right?
So that was really bullish for the US stock market and the possible by
Reagan and deregulation. And so you had all these older inefficient companies being taken
out and like taken to the cleaner. But then eventually what happened was that the bonds,
you know, he like this essentially eventually, so his firm was Drexel and it was like a $70
billion firm in the 80s, which is a lot of money in the 80s.
But basically eventually it blew up because it kept doing these bonds for like
companies that like they went too far basically.
Like there were companies where eventually the pensions that couldn't get the
money, like the people fought against them or maybe like they bought it,
but the market turned out, you know,
downtown their super lovers. And then afterward, you know,
milking with the jail for two years
but he's later pardon, but he
Like
This is way in which like he literally fueled like this 80s period of like deregulation and like corporate efficiency
And then later because keep like the market turned down then they're like, wait, all this junk bond stuff,
that's bad.
But now it's very common.
Every company will issue bonds.
Every company will issue different types,
and people understand default risk and that kind of thing.
So I think, and then Milk and Institute
is a global conference series that they make $50 million
a year of revenue.
They have conferences all over the world and they're just talking about stuff.
So I think it's an example of how the idea that you can regulate to prevent the thing
is very difficult.
It's like the thing usually comes with a lot of innovation, but then it also comes with
a lot of pain.
And so free market advocates would just say, there's no way to get the addiction
without the pain.
You know, it's like you can't, you can't get jacked without going to the gym and like
feeling some pain once in a while.
You know, it's the same same concept.
That's kind of where I'm sitting at, man.
I think you got to I think everybody's got to blow up or else you wind up with like a
market of retarded consumers.
Yeah, I mean, that's why again, like I think Solana is still underrated. Everybody's got to blow up or else you wind up with a market of retarded consumers. Yeah.
I mean, that's why, again, I think Solana is still underrated.
People think you can produce this meme coin culture elsewhere.
You can do it to an extent, but I think a lot of the other ecosystems, they're relying
on the giga pump by the protocol.
They're relying on either foundation pump or they're relying on like big rich man's and upon my coins. Solana is really the only one that the meme coin guys
they are like, no one's coming to save me. You know? And that's very, very powerful.
Yeah.
Svf is gone. You know, it's all it's just us now.
Like the no crying in the casino shit like it's
become so common to get rugged that like I don't know it's like actually totally changed the
dynamics of like crypto overall in the sense of like, you know, the things that were going on now
like if they had happened last cycle, like people straight up would have gotten killed, right? Like
if you would have rugged a token on live stream for like
17k, like it actually would have just been over for you last
cycle. And now it's like, you know, like, he got just business.
Yeah, like, it's just business. Like he fucking got me. I
should have known I should have known like, if you look at his
face, like I can tell he's a little rugger. I can tell he's a little fucking rugger, bro. It's on
For sure.
Our WA on pump fun win.
Yeah, I do think people will launch more and more real stuff on pump. I think that that will happen
It will take time though, but
They also might just use aetherium for RWA I think aetherium feels like the RWA chain to me
Yeah, because because you don't have to transact it as often it feels safer securities. I
don't know
I'm gonna really regard it if I'm buying like, like packs gold or
something on Solana, I'm gonna feel even more retarded if I'm
buying like, you know, any sort of gold equivalent, like an actual
equities equivalent of gold on Solana. That just feels like,
I don't know, I can't even describe why it feels wrong.
It's an example of how the branding of Solana
has changed so much in like two years.
Cause in the SBF days, the branding of Solana was that
it was ultra institutional, like CME,
like CME, like all the big funds are in, TratFi, you know, and then ended up being,
like all the big funds are in, TradFi,
ended up being like, you know, shitcoinfest and like, you know, CTO'd by the community essentially.
Neat Gaza mode. What does Gaza mode mean? What does Gaza mode mean do we think? Is it
pro-Gaza or is it like he lives in Gaza kind of vibes like? Yeah it's like this
is Gaza like the trenches have become Gaza like indiscernible. Have you been to Israel?
I am theory no.
Market legitimate evolution.
True.
Utility of a post neoliberalism era.
Yes, it's true as well.
I still don't really know what neoliberalism means.
Like I can conceptualize it as like libtardism, but like when I see people who would normally
just say like libtard shit say neoliberalism, I don't know if they're like, this is how
you say libtard in front of like a more polite audience.
So neoliberalism is definitely not libtard, right? It's something else. It's broadly,
if you think about it, it's tied to the 90s. It was a term that became popular to refer to like
this idea of market-oriented reforms like Washington Consensus. I don't know if you know
what that is, but it's like mainly associated with actually Ronald Reagan and Margaret Thatcher, right?
And then Clinton was like expanding it out. So think like World Trade Organization, think like NAFTA, you know, think this kind of stuff. And the idea is to liberate the process of capital accumulation.
So philosophers think of neoliberalism as actually hyper-capitalism.
It's like the opposite of libtard, actually.
It's the idea that we're going to open the market.
So liberal means free, right?
So neoliberal is like a freedom ideology.
And the main idea then, I mean, the main achievement of neoliberalism
of the 80s and 90s was to open up the Chinese market, right? It kind of became an open market
somewhat during that period. And like that was considered to be like, and also the fall
of Berlin Wall and the fall of Soviet Union. So just this gigabelief belief in free markets, in no tariffs, no impediments to free market,
right?
Deregulating capital markets, lowering trade barriers, eliminating price controls.
Is this how anybody uses it now?
You just said a lot of things that I'm imagining.
It should be how it's used by intelligent people.
I mean, if people misuse that, yeah.
But I'm saying like on the internet,
when I see like a random person
replying to me with neoliberalism,
like do they mean this or do they mean something else?
Cause I feel like there's a 0% chance
that they mean what you just said.
I mean, internet, it depends if you're in like
the ghettos of like, you know, Twitter.
The intellectual ghettos.
Assume I'm in like the most cordoned off intellectual ghetto. Like they have a machine that like if you try and pass through this wall
with an IQ of greater than 95, it like has a laser fence that just cuts you into like five sections.
I mean, I can imagine, I can imagine it's being used to say like there were Libs and now we're
the new Libs. So we're the neoliberals, like even though it has its own meaning already.
So I can imagine that.
So like Gavin Newsom is a neoliberal
because he's a new liberal.
I don't know, that's possible.
Okay.
That's fun.
Yeah, cause that's what I assumed.
I assumed that it was just like,
in the same way that like Neocon is basically used now
to mean like the new way that like neocon is basically used now to mean like
The new thing that the conservatives changed into after being conservatives. Yeah
It's been long enough now that we can just reuse neocon because neocon used to mean like George W. Bush, right? Like George Bush Yeah, well, I mean that's still that's still what like like neocon still means that right? Like it's like the correct
Well, I think neoliberal also means the same and neoconals mean the same.
It's just that there is this abuse of language that can happen when there's not enough history
learned.
So you can just use the word to mean something different than what it's supposed to mean.
Like words always take on the opposite of its original meaning through that mechanism.
Right?
Where do you remember?
Do you remember the period where like based like based comes out and it's like initially it was used by like the black community. I
As like a oh like this is cool good, etc
And then it became used by like the extremely
Internet racist community to say like this is the most racist thing like this is like the most
transphobic sexist
Misogynist thing and then internet leftists took it and they also were,
but like they meant, like the internet racist
has met that in like a good way.
Like it's based that this is the most transphobic racist thing.
And then internet leftists came and they again reversed it.
And they said like, wow, this is based.
It's based that this is the tallest transsexual,
the tallest, most muscular transsexual in the
room. That's so based.
The tallest crap based.
Sounds good.
So then the original, so the original adventures are like, that's not what it means, guys.
Yeah, but it's like, nobody knows at this, but it is a little bit, I will say that the
left had this like string of, of like attempts
to like retake a word or like an insult that the right had. And it just always sounded
really retarded. Like when, when the right started calling the left cucks a bunch and
then the left responded by saying like, Oh, like the conserva cucks or like they started
saying the conservative snowflakes, like it just doesn't make any sense
in anyone's mind because these were the people who like you could cause to have like a mental
breakdown and start crying by saying like any random racial slur and now they're calling
other people snowflakes and so it sort of doesn't like hit the same like you have to
make like an insult that actually feels real, right? You could probably
better call the right retarded in a variety of ways, and that might be more insulting. The right
has lost a lot of intellectual capacity, just in terms of thought leaders and stuff like that.
You could probably hammer on that a lot better than saying like, no, actually, like, you're the crybaby.
I mean, the irony is that like Trump is basically a Democrat, if you really understand his policies,
like tariffs are gigademocrat policy, right?
And like, actually, protectionism also like gigademocrat policy, like these are like Bernie
Sanders policies.
These are like, like, like very standard, like like center left policies of 20 years ago.
So I think it's funny when like Libertar would say Trump is like the end of everything, where
it's like he has your, literally your same platform as 20 years ago. He's like bring
jobs and bring manufacturing jobs back to the U.S. So a Republican 20 years ago would
have said, we're pro free markets, right?
So we don't do tariffs.
Like we believe in like, you know,
capitalism and we'll believe in companies offshore
because it'll bring gains to consumers.
Trump is literally saying the opposite,
where he's saying, I don't care if there's gonna be
inflation, I don't care if the consumer pays more,
we need to bring jobs back.
So I think it's quite interesting.
I mean, like Elon used to be a Democrat as well.
So what you're almost seeing is you saw like a CTO of the Republican Party by Trump.
So that's why like the Democrat Party has like nowhere to go because they actually moved
toward the center a lot through Clinton because they like couldn't had to be very moderate
in order to get elected versus Bush and
then over time like you you have the corporate interest kind of started dwelling inside the DNC and then
like now you actually have a situation where
You actually can't like Democrats can't go further left
Then like dumb was don't know how to go further left than Trump. Because Trump is actually, and mind you, Trump is center left.
Like he's financially like a leftist
if you really understand his economic policies.
And so that's where now they're just confused.
Like they wanna call him far right,
but then he's like clearly not far right.
If he talks like a Rust Belt guy, he's like,
no, this is what the Democrats told me
that they're gonna do 30 years ago.
They told me they're gonna bring manufacturing jobs back.. They told me they're gonna bring manufacturing jobs back and yeah
I'm gonna you know, so I
Think like the kind of screeching liberal woman who like thought calling far-right is a slurge
Just like totally fucked it up and not didn't understand that the policies are actually leftist policies that they used to have
Yeah, it's the meme of like I'm not far right. I'm literally like, I just agree with your dad.
Like I just agree with your grandpa.
Like it's
Yeah, go and compare what Democrats were saying in the 90s to like what Trump's saying now.
It's literally the same.
That's why Trump himself was a Democrat.
He's literally just repeating what he said in the 90s.
Because back then, remember like all those green,
green, green, green peace protests and stuff,
and like protests of WTO,
like that was all leftist protesting
against right-wing people, right?
Like right-wing centrist, like Clinton's,
like they were saying, we need the WTO,
we need massive like free trade treaties.
And then that means that we can import stuff from Mexico
over and it's just all the same price and
Then like you you you had people training themselves to trees and being like no no
This is gonna destroy American businesses is gonna destroy mom-and-pop like manufacturing
And so like that that's literally a Trump's position like he is the tree hugger, right?
Yeah, so it's kind of a Hish is always ironic in that way.
So I don't really, but I think the irony is lost
on like liberal women.
Cause I think for them,
they're almost playing a different game.
They're playing exclusively the abortion
and like the social power game.
And so they're just like, we build the coalitions.
We build the needful coalitions to play the gender,
to get the gender equality game and to get the
you know the
creation of like a great state and
so as a result, it's like very very hard to
To convince them that you know your policies are irrelevant to what people on the ground are saying like you you've actually called it a new coalition
Right coalition of women of women, gays,
some gays, you know, and like, very few men, honestly, but like some some college educated
men that have to marry women to become more moderate. So but that's like pretty much it,
right? Like it's a and then and they wanted to claim minorities
as well in that coalition but it's not easy to do now because minorities again
also are like real people so they don't just vote by skin color so I think
this intersectional strategy of DNC is just completely blown up because I think
today people care about policies not not identity right
People care about policies not not identity, right?
Hopefully I mean there was a weird period where like you could argue that that didn't really happen. Yeah
Oh Obama was the top of identity politics because Obama was like you would see the guy and he would give you a nice speech
Like hope is change whatever and then you say okay. Well, this guy is multiracial
He is the future and then if you were multiracial if you were multiracial, if you're like a minority
or if you were like a female, you'd be like,
this represents change, this is America, right?
And then afterward, you're like, well, okay,
what did I just do?
Like, what are the policies?
Do I like them?
Do I agree with them?
Did things get better?
Yeah, American is saying that like most people use words
without actually knowing the definition.
I honestly think this is mostly like a girl thing.
Like, if you look at the way like incel changed, like the actual meaning of incel is literally unknown in its common parlance now.
Like if you were to explain that it means involuntarily celibate, if you explain like it means somebody who has not had sex,
like they'll just be like shut the fuck up. Like you know how it's used and it just means evil bad
man, right? It's like purely like it's like that zero HP long graph tweet where they say like
Trump Elon is hate of the biggest. Yeah, like like you're going gonna say I am feeling out like the polarity of the word and then like if it is good, then I use it as a compliment and if it is bad, then I use it as an insult
regardless of like whether or not it applies.
It's just like the richest man in the world with 600 babies in self.
Why is he an insult?
He's a bad man. Incel.
I mean, you need to think about the meaning of the word gay, right? Like gay used to mean happy.
If you read older books, gay just means happy.
Like think about how much that's changed.
That's wild to me.
Yeah.
I mean a lot of this gets down to like when people start identifying
with a word, like if a group identifies with a word, they have the
power to like completely polarize the word,
right?
Like if you just never say like, oh, I am X,
then it doesn't really happen.
But like there are certain like groups that historically
have, they have had like six different words
that they might be called commonly.
And now all of them are considered inappropriate
because like they all became like insults, right?
Like you used to be able to just call black people Negroes
and that was like the common term for it.
And then it changed.
And like, then it was like you could call them blacks.
And then that changed also
because it became negatively being complicated.
And then-
Like a really common name back in the day was Gaylord.
Right? Like if you're a Gaylord.
Yeah.
Now, imagine you name your kid Gaylord now.
But if you Google, like, can I name my kid Gaylord?
AI will say Gaylord is a unique choice, you know,
cherished by those who understand
the historical significance, right?
It's a very common surname and child name, which just means like brave, lively, gay,
It's a very common surname and child name,
gaily dressed.
So, yeah, like they took over that whole word, but there's still stuff like where, you know,
there's like places named Gaylord.
There's like people that are 80 years old whose name is Gaylord.
They probably use their middle name now because they don't want to be called Gaylord.
But you know, something interesting I learned is that autism actually used to be described
like autism used to mean basically exactly what it does now.
And then the medical term like the medical diagnosis of autism came out and used that
term that we all use as basically like a descriptor of some sort of like
social awkwardness or like not getting it-ness.
And then we just like inverted it again.
And we said, okay, well, this is a medical diagnosis
but like, this is like, I'm calling you autistic
like as an insult.
And we just like reverted back to the original usage
after like 600 years.
Yeah, like retarded is very similar where it started off being like, okay, here's what it means.
And then it became a very shunned word and now it's kind of back to what it means again.
And you know, if you think about the word to retard something, like that used to be
word as a verb too, like if you're retarding something, you were slowing it down.
Like let's say we had a product inside Oxfam and you were just retarded yet Lucas.
I would say to you, Lucas, stop retarding the project.
Such cases.
He's applying a retarding effect to our ongoing BDF.
Yes, exactly. Exactly. I
never really got the hatred over the use of the word retard because it was another one
of those things where an actually retarded person would never have an issue with it.
It would always be a white woman who was a nurse
and worked in the handicapped ward of a hospital
would just be getting really offended on the behalf
of a bunch of people who didn't give a fuck about it.
Cause it wasn't even really used to negatively apply
to handicapped people.
Nobody was still like, oh.
It was actually just the original word. I think even when you use it as an insult, it's mainly
referring to the original meaning of retarded, which is you're, you're slowing it down. You're
really slow. You know, that's like, I recall basically zero instances in my entire life
of some guy going up to like a kid in a wheelchair and being like, Oh my God, like you're so
retarded, dude. Like, holy shit, your legs don't work dude, what are you sorry, like
I don't remember it happening.
No, it's interesting the word faggot too right, if you think about the word faggot, I'm just looking up now on Wikipedia, but like
basically it came about in the 1910s and 20s to refer to gay people.
And it came from like this idea of fairies and like sissies. And it was used very often
at the time with a different word called bull deck, which now no one uses, right? Bull deck.
I've heard that one a few times, actually. I've heard that one. Yeah, so I also I also notoriously just dated a
fuck ton of lesbians. So like, right, right. So you're very familiar in this and Dykes
and all the X circles. Yeah, so then, you know, it became known as like a feminine like
a sissy girl, like a sissy guy would be a faggot. But the thing is that the original meaning of the word
has very little to do with that, right?
It's the same thing with all words now.
So I don't think,
like any word can make it back to a normal word
within like 10 years.
Yeah.
I guess you would reclamation. The retort turnaround was interesting normal word within my 10 years. Yeah. Yeah. I can see with the retard,
the retard turnaround was interesting because it was so distinct.
Like there was such a clear point where it went from being like,
if you ever said the word,
there would be like four of that type of girl that is like, Oh my God, like,
you know, that's a slur. Like, uh, they do the whole spiel at you.
And then just like overnight, they all fucking disappeared.
Like, they all got some, like, OTA, like, software download
that said, dude, like, if you try this,
you're going to get your ass blown out.
Like, everybody is going to call you, like, a loser.
And they all just instantly said, OK, I will allow the men
to say retard now.
I ran into a guy who tried doing like the policing for that.
I made a tweet about this, but like I, there was a guy who like we were in a group of all guys and someone said like
retard and he like did the thing, right?
He was like, you know, that's like a slur.
It's like really inappropriate. And like, everyone just looked at him and they were
like, there's literally no women here. Like, who are you doing this for? What is the point
of any of this? Like, sure. So true. so true.
So what do we think about?
What do we think about this shit?
Like mega mega mega E they all seem to have good teams like they all seem to have good
like both BD like they seem to all have better BD teams than the EF outright.
Yeah, yeah.
I mean, that's the thing now, because ETH sucks so much,
there's actually, people can say,
well, ETH is worth this much, and I'm better than they are,
and that's why my coin should be worth billions.
So that's what they're all trying to play.
Yeah, I mean, Monad, Parallel, EVM, MegaEath,
like doing a trade off where you're essentially
doing very fast execution, very fast block times.
Someone was actually pushing me yesterday to do Megasoul,
that we should create Megasoul.
You can just forks Lana and do that
the trade-off you do there end up just being like ridiculous centralization, but
The the thing with the cycle is that people don't care as much about centralization because they don't understand it like because I think the
Occu's have gone sufficiently low that people don't care or they can't understand centralization risk anymore
You don't understand centralization risk until it happens really
Yeah Yeah centralization risk anymore. You don't understand centralization risk until it happens really.
Yeah, yeah, agree.
Well, even after it happens, you may see somebody to understand it.
Like if you're-
Even after it happens,
you may actually be convinced into thinking
that the thing that fucked you up was not like centralization
but like some other thing that you read about in a Twitter thread,
but like some may understand after it happens, I guess.
But it's just, it's really hard.
This is the same thing with like national security and stuff like that, right?
Like if you were to have China produce all of our lithium batteries, it's a really hard
thing to like quantify how much risk that is until China decides to say like, we're
going to go to war with you and also we're going to stop selling you lithium batteries
during the war, right? Like how do you price that in the average mind of a person who thinks
that you are just never going to war?
Yeah, exactly. And like it used to be, people used to fud ripple for its pre mine They'd say this is such a pre mine scam because their framework was all these
Alt coins as they called it then that you would have
you know a
Like a some of the supply would go to the team and that was considered like insanely scamming right whereas now
And that was considered like insanely scammy, right?
Whereas now no one fuzz ripple for pre-mine,
No one fuzz ripple for pre mine
unless you're a 2014 Bitcoin Max.
You don't even know what pre-mine is.
Like I could never.
They don't even know the word.
Like if I say pre-mine, they're just gonna be like,
what the fuck are you talking about?
Like it's not even bundling.
It's like.
Yeah.
Pre-mine is basically bundling.
It's basically what bundling means. But they, yeah.
So that's something where, again, it's very like pro-centralization.
Because I think there's this general idea now that Bitcoin is the most decentralized,
and it's so decentralized that the block times are super slow.
And it's very hard to use.
And so therefore, nothing else has to be that decentralized actually.
Like Bitcoin already got enough for everyone and then you have like stable coins because
another question is like why do you need to be that decentralized? You're like
you're mainly transporting like custodial stable coins, right?
Yeah, like you're transporting something that is backed by a fiat asset like how decentralized you need to be.
Yeah. Like okay so this tweet here was I think I saw this one last night.
I think this is basically the thing that made everyone just say like because you hear like ETH is more centralized than Solana and then you go and you use both. And you're like,
wait, he's actually kind of a pain in the ass to use. Like, this is actually like a ridiculous, a ridiculous
series of like hoops that I have to jump through now to deal with
this shit. And then like many people just respond to this by
going like, okay, well, centralization just means shitty
UX, like, or sorry, like decentralization means shitty UX.
Like, and now they're just like, wait, I want centralization.
Like it seems like it goes fast.
I click the button, the thing goes.
I only have to click it once.
I don't have to keep sitting and then you approve
and then you wait like 30 seconds and then you swap
and then you just, and then it fails
and then you swap again.
And you're sitting there for two minutes trying to land a fucking transaction.
It's just same as like Linux versus Apple, right?
Like there was a period where like Ubuntu like people were kind of pitched
like Ubuntu was going to be consumer, right?
And I think like Google Chromebooks.
I know what you're saying.
I think it is Ubuntu.
The theorem is Ubuntu. Ethereum is Ubuntu.
I'm gonna, I'm gonna slay, dude.
Linux has actually gotten really good.
Like I know, I know.
Yeah, now, yeah.
Like they can actually run games faster
than Windows now in many cases.
Like there are actual enterprise businesses
that are now using enterprise software
on Linux instead of Windows, not
necessarily even because Linux has gotten so much better. Like it has, it has gotten
better, but it's not like a, like orders of magnitude thing, but because Windows 11 is
such a fucking scam that it's actually like unbelievable. Like, do you remember that like
one month period where they removed my battery indicator on my laptop.
And it was like there was literally no setting that I could go into and changed
it. And if you look up the documentation,
it tells you to go into a menu that no longer exists on this snapshot of
windows 11 and like shit like that just always happens.
Like they just move something and it becomes unusable.
It literally is an ad serving platform.
So, uh, but yes, there was a period where Linux was like a huge scam meme.
And it was just like, this is going to be like, this is going to be free personal
commute computing, but then you download it and actually you have to like
configure 37 different drivers.
Your printer doesn't work.
You try and use Bluetooth and the whole thing just fucking explodes.
Yeah. And like Matt, like Mac OS X is actually based on Linux, right? So they essentially took Linux and they made it and they made it closed source. And they made it some more
centralized and then they also made it way better user experience. So if you look at
that fraxel, then when you could see happen,
you could see someone takes the architecture of Ethereum, EVM,
makes it a closed source, and makes it easier, like a better user experience.
Hyperliquid.
Yeah.
Or anything else.
So that's the direction of that.
And then Pwnix was mainly like,
what are the use cases of like decentralized smart contracts?
I think it's like, okay, on the one hand, some DeFi,
but look like Aave is just ETH aligned.
If they weren't that aligned,
they could do what Athena did, which is like,
and also a lot of their TVL is from ETH whales.
So they kind of need to cater to that.
But it's ultimately like Athena is doing their own chain.
People do their own chain.
In the end, like it all goes to like, okay, there is Linux.
But I'm gonna build like, I'm gonna use it, it's open source.
I'm gonna make it closed source.
And then I'm gonna hide everything from the user.
The user won't be able to see their own file directory.
And then you'll love it, right? close source and then I'm gonna hide everything from the user. The user won't be able to see their own file directory.
And then you'll love it, right? So I think that was Steve Jobs' genius, which is to say,
people want the easy thing.
They want the thing with no buttons.
They want the thing with no customization.
They want to just have it work out of the box.
So Ethereum, I see a lot of similar as we see there in Linux
Which is like it assumes that you want to like run your own like node or it assumes you want to like
You know be in the terminal and like type stuff
Yeah, I do not want to run my own fucking nodes. It's one of the worst decisions. I've ever made in my life
This is a great we've had Uber on the blockchain but have we yet had crypto based
operating systems. This might be like the most unusable product crypto has ever come
up with.
Isn't Urbit kind of like crypto based operating system. I love the urban guys.
I do.
But yes.
It's gotten a lot easier to log into urban though.
I will say I can do it now.
I didn't used to be,
they made like this app called like Tlan, Tlan.
I don't know, but I can log in on my phone.
It used to be like, okay, I'm gonna go home but I can log in on my phone. It used to be like, okay
I'm gonna go home and I'm gonna boot up my Linux workstation and I'm gonna power on my
I'm gonna power on my ship and boot into the Linux
like
Fucking I guess the what was it the orbit like stratosphere and I'm gonna go to the stars and the moons and them
But now I can just do it on my phone, which is really nice.
I mean, there should be a mobile operating system that's crypto based, probably actually,
that would make sense. But the question is, what is the crypto being used for? Like it
could be, it could be like, if you have like an AI swarm, maybe they would all adopt the same crypto based operating system.
I mean, like what they could just install it on these like, it could be a botnet.
But it's like, what is the use of cryptography in any of this?
Right?
Like, no, the use is MLM, right?
So the use is that if all operations are similar, and then you add a crypto on top
where you're earning something, maybe that's like, you know, you can be incentivized by
Is it literally just that you like you install a botnet on your computer?
Like, that's like the crypto based AI.
It's like you're just mining, you're mining Bitcoin for the Chinese.
And it's like the crypto OS.
You're like, your phone is always fucking hot.
You get like three hours of battery life, but like every day you get seven cents of
Bitcoin.
The Chinese man that you're mining it for gets like 28 cents.
He's scamming the fuck out of you charging an 80% fee.
That's very likely.
That's exactly what I have to assume would happen because I just don't understand.
I saw something which is like in 2017 or 16, I think, like a huge percentage of botnets were just mining Monero.
Like wait malware, which is mining it for you.
I mean, not for you, mining, using your computer like,
with the influx of ETFs coming,
these are gonna get zero flows.
Yes, I think the ETF meme is gonna be dead
very soon already,
mainly because ETH itself got an ETF and then nuked.
Like actually-
Hold up, hold up, hold up, hold up.
There's actually going to be a Pengu ETF.
They applied for one.
I mean, whether it gets approved or not,
still no one's buying it, right?
Like it doesn't actually matter.
That would be really funny.
Imagine being like the one like TradFi
capital management firm that has clients
that are all just aping Pengu.
And everyone sees like BlackRock buying Pengu.
You're just sitting there like.
I mean, it's not a bad idea for Pengu to have an ETF.
It's good corporate branding.
It's like this thing where even if no one buys it,
now people know Pengu is one of the points of the ETF.
Yeah.
But yeah, are people gonna buy it?
No, no, they're not gonna buy it.
XRP actually, they may buy it.
I wouldn't buy it.
I would buy the XRP ETF.
Yeah, I think a lot of guys may even sell spot by ETF, because of what I did here.
Finally, I can put it in the Trapfyrails.
Just toss your seed phrases in the dumpster.
Fuck these wallets.
Fuck your codes.
Fuck your crypto.
Using a brokerage account.
Exactly.
Botnet nationalism so true.
Do you think HyperLog is bottom tier?
Yeah, I think 12 was the bottom.
I don't think it's going gonna go to like nine or something.
It depends on overall markets nuke but not my base case. I kind of think the market is
close to bottoms if not already bottomed. But yeah it's a good spot. You can probably get it
at like 13 and a half if you want to buy hype.
I don't think there's any rush to FOMO it.
The multiple is pretty high, so I don't think anyone's gonna come in like if it's a 19 or
I just don't understand enough about like the hype like revenue generation mechanisms
to have any opinion here.
It's just the hype assistance fund, right?
Just the hype assistance fund, right? Just the hype
assistance fund buying from fees. The issue with these buyback narratives is that usually after
they have a blow off top, people are now like, well, the buybacks take so long, you know, I'm
not going to buy it for the pump anymore. Because a lot of guys that came in for that first pump,
they're coming in for that fast money like new paradigm pump.
So once that capital gets flushed,
then you know the coin usually doesn't exhibit this behavior anymore because those kind of guys all died. So
you know, you don't usually have V-shaped recoveries and the kind of things. You have like slow grinds
after that. You know the trough of the disillusionment kind of.
It's like roll bit, once I did the big pump.
Then people like, why would I buy a buyback token?
I did get out during the crab period on the longs, but I didn't long it that hard the second time.
Just because I realized
how big the market cap was like that was the thing for me like I was sitting
there looking like wait like if this thing does like a forex it is gonna be
like a top 10 coin so like that would already be an absurd situation so yeah
I don't know do I think do I really think hype top 10 coin in the first like month as possible?
It seems a little bit bizarre
Yeah, like what was around 30 plus like people were saying look
It's like higher than FTT like and cat at the high right? Yeah, is it better than FTS?
No, right. It's not like I'll text made a multiple more money than hype does now
You know, it's like that whole billions with the B thing, like,
you know, to get that MCAP, you kind of need to be making billions.
So I think it can get there.
Like, we plan to build a lot of stuff on hype.
We think it's like good liquidity and it's good composability as well.
Yeah. I like that they're not giving grants to anybody and it's just like very pure because I think that creates a more fair playing field.
I think the problem you've seen a lot of ecosystems that they literally don't know how to build ecosystem.
Yeah, the third season air drop, I guess.
Or the second air drop.
Yeah, yeah, they probably need to do that so that people get outside again they start
trading a lot of clients have died right because of the market nuke.
EVM growth, yeah like hyper EVM, not that bullish on but I think it's, it is what it
I just don't think you need a chain.
Like I think hype can do fine without having like
world's most performant like L one, four validators,
whatever, like I just don't think that,
I think that's something that like exists to put in decks.
Like you put that in like a race.
Well, it's really good decentralization theater, right?
If you have a chain.
Because now you can be like, oh, I'm decentralized.
This is like, I don't know, and it's gradually decentralization.
Because you haven't really seen prosecution on the basis of like validators being too
centralized yet.
And you may not ever.
And so as a result-
That would be the world's worst fucking precedent to set.
You're the one that determines the exact amount
of validators that is prosecutable.
That would be, yeah.
You know, and like BNB has what, 20, 30 validators?
So, you know.
Oh, yeah, so they're fucking fine.
They can just like triple the validator.
20 is enough and why not four?
Yeah, like four versus 20, what's the real difference?
Like 12 versus 20, like. So real difference? Like 12 versus 20.
So it's just computers.
Everything is computer.
So I don't know.
Yeah, if you're just waiting on buybacks,
it's like roll bit basically.
But EVM growth kind of bearish
because I think EVM itself is kind of bearish.
Like just not enough things you can do
that people care about.
Incentives launched, yes.
More utility, yes.
More like spot pairs, builder codes
for people to build stuff on top of it.
Like that's all bullish.
I think what you provide.
I mean, they can have a massive ecosystem.
Isn't it a 20X multiple?
Yeah, you can have a massive ecosystem built on it.
You generally just need, like, look,
I think today, like they put their hat in the ring, right?
So like, Binance is not gonna like support hype.
Like there was this cope two months ago,
which is that like Binance will have to list it
because it's like so, it's so much volume.
It's like, they don't have to do anything.
No one has to do anything, right?
So, you know, like, I mean,
Binance probably makes 2 billion a month, right?
They make one to 2 billion a month.
So it's just not, I mean, it's nowhere near the same.
I mean, finance is probably 100 million users, right?
They have 100 million registered users.
So it's a very different game.
It's very different scale.
I mean, Hypergut can get there, but it takes time.
It takes a lot of community building.
Like the risk to hype is that it's too focused on the original
community and not enough on how do you get in your community?
Or is what you tend to see with the project, the idea of the
same problem? Because what ends up happening is everyone dies.
And then and then yeah, like now they're like, well, give me
season three airdrop and then they killed and then that dies
too. And then but then they you need more money to come in to
trade and get money. And so there's this but then in the day, you need more money to come in to trade and do money.
And so how do you find more money?
There's this idea in crypto that like,
you don't necessarily have to worry about churn, I guess,
if you have a product that works well.
But like specifically in crypto,
you really have to fucking worry about churn.
Yes.
Almost every business, you have to worry about churn
more than people initially assume.
But in crypto, it's like, you're just dealing with like massive like like genocides of your users every like month or two
Just based on weird market fluctuations
But you need to always be finding new ones or else everyone dies like I mean
It's the same thing with like followers bro
Like if I go when I look at the people that followed me from last cycle
It's basically like there's just 15k dead accounts on there.
Like they probably will not log into crypto Twitter ever again for the rest of their lives,
like just totally dead.
They're definitely not using any DeFi protocols that I work with.
Yeah.
So I feel like they should go in RWA direction.
They should be getting, you know, first of all, just get some yield on the dollars that
are on hyperliquid.
That'd be great.
You know, I do think Ethereal is a valid competitor as well because it's backed by Athena and
Athena will basically be giving, I mean, you're earning yield while on the prep exchange,
which you're not doing on HyperLit right now.
So, you know, like ultimately you're just seeing
a lot of this like app versus app,
like elbow throwing game where same as pump versus radium,
same as this sort of stuff.
It's ultimately about like,
how do you claim a piece of the pie and then
make sure the pie is sustainable. Like Athena, like in theory Hypergood could put all their USTC
into like Athena and then get yield on it because the TVL is high but they seem not to be going
that direction. Maybe they want to do it for their own funding market. But you know, if you now
have a something like ethereal where you can do the same exact thing as hyper liquid, like
even if you had a wrapper on top of hyper liquid that you could then do that with, like
that will then capture more of the value, right? So yeah, I think it's, I think it's
not as clear, but I like what they're doing with the features I think people some people will will buy it for lower fees
Did I see the HR whale just degenerate gambler I think what I just do dogs like what what did we expect I
Actually don't agree with this character
He's a DJ and gambler. He's actually
He went to jail for exploiting casinos,
online casinos.
So he's almost like a hacker.
I think that that would be a better characterization of him.
And he was using these online casinos not as a gambler.
He was literally exploiting their mechanisms.
like to go to jail for using an online casino
is pretty base actually to think about it. Like how many people have gone to jail for using an online casino is pretty base actually to think about it.
How many people have gone to jail for using an online casino before?
I haven't.
Me neither.
Like he's, that's pretty creative I guess.
I mean I think Zach SBT is good but I think he's just kind of word-solving where he's
like this guy is like a degenerate gambler criminal.
And it's like, well,
so was he gambling on the casino
or is he like doing crime on the casino?
You know what I mean?
It's like, cause those are opposite things, right?
Yeah.
Like if you're a degenerate gambler,
the casino loves you.
If you're hacking it, they don't love you.
Cause you're a gambler, they'll like to say, no, loves you. If you're hacking it, they don't love you. Cause you're so.
Yeah, I guess that is just kind of hacking, right?
This is like, you don't like at a certain point,
like you don't actually, everyone thinks of hacking
is like, oh, I'm opening up like the terminal
and I'm typing in a bunch of words and stuff.
But like hacking is also like, you can also
hack through like the front end of a user interface that has bucks. Like, yeah.
So social engineering hacking as well. Yeah. But I do think it's kind of a moron to buy
that he, like he bought an old X account and then Zach instantly start through it. Cause
you just saw the name and change. I mean, that's like one-on-one op sex stuff, but like
even I know that stuff, right?
Like people can see the change history of like handles.
Yeah, this is what I was gonna say.
It's basically like pen testing,
pen testing without being paid to pen test.
without being paid to pen test.
Yeah, true.
He was a big fisher as well, I think.
He was fishing people.
Like one of his addresses was like,
pointed at as like receiving the proceeds
from these like white label fishing apps.
It's not great.
I mean, fishing itself is a literal crime, right?
It's like multi-years.
Yeah, it's like instant gig of crime.
But honestly, at this point, like it is still like I do still consider like successful fishing
attacks to be like somewhat artful, because like, it's getting harder and harder to fish
people every year.
And they're getting really fucking elaborate.
Like you see some of these,
like some of the phishing scams that they run
and they're getting to be like, holy shit.
Like if anyone had ever sent me this website link,
like I would have instantly been gigafucked.
Like I would have lost everything.
Like this is really well done.
Oh, you mean like the Bloomberg interviews and stuff?
Like the Zoom.
Yeah, yeah. I mean, there's just so many really creative ways. I mean, now the interviews and stuff? Like the Zoom? Yeah, yeah.
I mean, there's just so many really creative ways.
I mean, now the ones that I'm hearing the most about are some sort of like employment
opportunity or job offer, just because I think, yeah, like I think everyone is not only broke,
but also out of a job.
So yeah.
Yeah.
In like our aux discord, we see this thing where every once in a while a Sussun guy will
come in, pretend to be a VC and want to buy Aux.
And then I told my whole team, there will be no VCs that want to buy Aux that come to
the discord, I promise you this.
But you'll still get some of you on our team, they'll be like, hey Sue, this guy wants to
buy Aux, should we set up a call?
And I'm like, no, there's no call and they'll
be like so you're so cynical I'm like and then but then each time I'm right
like they'll go through it and I'll be like and they'll send you a zoom link and
then you'd be like okay no three you know but but once in a while you will
get a guy that actually wants to use zoom for reasons because he just not
crypto native and he'll be like yeah let's just hop on a Zoom.
And I'm like, no.
And then he'll be like, let's hop on like a Tencent, like an Alibaba thing.
And I'm like, okay, now I know you're a budget because now I know you're just Chinese or
something.
You don't know what app.
You know you're not supposed to just...
Like Google Meets works, but you know, if someone proposes me like Baidu's streaming app
or like Baidu's Meet app, then they're probably okay.
Cause I think Zoom exclusively has the vulnerabilities, right?
Of like the, of the screen sharing.
I don't know.
I just know that Zoom is the one that is like
the meme hack one that the North Korean, you know, but like
presumably there's a way to do this with everything, right? Like they found a way, they found a
way to insert malware into PDF files after like 30 years. So like, there's no fucking
way that like Google meets is magically like safe from all of them.
You know, you know what I think it is?
It's that like G meet, you don't have to install.
Whereas Zoom you kind of have to install
because no one has it anymore.
So when someone sends you like, oh, Zoom,
and then like, oh yeah, just,
and then as Zoom is starting, they send you a link
and they're like, install this please
so that you can, like, we can't hear you, just install this.
And then you click the link and it's over.
Yeah, no, I do remember like my experience with Zoom
is basically like just 87 install new software prompts
and me just being like, okay, like I'm just clicking through
and like if at any point any one of those had been something
maybe it was something bad and I'm like fucked
and I don't know it.
Like they just haven't drained my shit yet.
They're like, they're doing the slow drain.
They want to let me feel safe.
Yeah, they're like, I think this guy might make money
in the future.
I don't want to drain him just yet.
I mean, a couple of cycles ago, a really popular scam
in coming from Chinese markets was these like fake
sex accounts, like fake sex apps, not not not sex as in
sexual but like CEX. So you'd have apps which is like fake OKX or like fake Binance and it
would look almost exactly the same. So you couldn't tell but it would be like your friend sending it to
you and be like sign up on Binance and then you click it and now you have this APK like like it
doesn't work on iPhones so it only works on poor people but like and now you have this APK like like it doesn't work on iPhones
so you only work some poor people but like now now you've downloaded a
like Android APK
Yeah
boom
And now you have binance on your on your thing
And you know that they're dead version of these for wallets, too
But basically it's like they actually have your funds. But for like a year, they'll just let you trade.
And you're trading, you're doing all your normal stuff,
you can withdraw whatever.
But the moment you put enough money in,
then they'll take it.
And they'll do it in a way that you won't even realize it.
So there's people that were running like bootleg versions
of websites for like three years, not realizing it.
of websites for like three years, not realizing it.
Yeah, I thought, I do remember all of that stuff,
but I always thought it was kind of weird
that like none of these apps,
like whenever you hear about like a drainer,
it's always like an instant drain.
Like they don't actually wait to see
if the person is going to put more money on.
Like it's just like scripted, like, okay, just rip it all out.
Right.
Whereas like there's many wallets where it's like, if you look at the way the wallet behaves,
if you waited like a month, you could wind up with like seven figures more.
And I just thought it was never like, it was weird that it was never like coded in that
maybe like under XYZ parameters, you should wait to drain people.
I don't know. that maybe like under XYZ parameters, you should wait to drain people.
I don't know. Did I ever tell you about the time
when I got into an argument with people
about like the security of hardware wallets or something,
and I argued that like,
it would not be like cost efficient,
even for like an exploiter to like buy
and then alter hardware wallets and resell them as
used. It was like this doesn't make any sense that this would happen. Let me prove it. And
I like bought a used hardware wallet on like eBay. I used such a retarded story. He's not even acknowledging it. Lucas, Lucas,
what the fuck is wrong with you? Like, why do you keep doing these like, bizarre like, Zoom is a dog shit app.
I don't understand how Zoom got high valuation.
Is it not the same as every other thing we've ever had like Teams, G-Meet?
I mean. I don't like I don't even know why we all used zoom like that was one where it's like
if you're trying to explain that to me with something other than like it was literally
like a Chinese scam to get like it was like COVID happened COVID Chinese scam pushed everyone
to work from home also Chinese scam how did you work from home. Also Chinese scam. How did you work from home via zoom?
Chinese scam like unless you conceptualize the entire thing as a Chinese scam.
The fact that we all decided to ditch like G meets and go over to or just fucking Microsoft Teams meetings.
Like come on.
We all were using Microsoft Teams at that period anyway, like even slack meetings like everybody has a free meeting software.
Why the fuck did we do? Why the fuck
did we do this zoom shit? It was so goofy.
Sure.
Huge Chinese scam. And the program it was like, I remember
every time I had to download zoom, it was like an even bigger
file somehow, like I initially download zoom and it's like 800
megabytes and you're like, that's a pretty big app. And
then it's like, the next time I was like, oh, it's a fucking
1.5 gigabyte update. And now you have this like four gigabyte
zoom app that's used for like video conferencing and you're
like, wait, this is like built into my text messaging app on
Android, like I can just video call with an unlimited number of people and it's like 200 megabytes.
What the fuck is going on? What are they doing here?
Like how many bitcoins do you need to mine on my shit?
Yeah, this is also I mean that the PDF exploit has been around for a long time.
But like, I mean, it was sort of weird because like it didn't pop, like it, there were many years
of PDFs existing where people did not know how to do the exploit. Right. So like, that's
why it was funny.
Yeah. You still get stuff where like boomers will send you like a PDF file and like, bro,
don't just don't send me a PDF file, but like like PDF a deck or something or the PDF yeah yeah I love the PDF decks
this exactly this well I mean the whole thing is is just like you know if you're buying a
used hardware wallet like uh like who even is that market like that's like this is why
it's a great deal it's a great deal because like uh
i'm the only buyer you can get every fucking hardware wallet you want for like 95 off on ebay uh maybe they maybe they have malware maybe they're gonna scam you but uh
i i just mean i mean you probably do you probably do those reverse scams where you like
like have you seen those scams where they say that they have funds in this thing and they like leak their like seed phrase by
accident so it's like by accident and then you go and try to get it but then
like you have to like spend gas or something and then the gas goes to them
so they're just earning your gas that you use trying to get the funds that are
locked anyways no that's funny it's funny. It's a common, it's a common like rescam that people do.
But you have to hit like 800 people with it, right? Like if I get like 800 people
to try and copy my seed phrase. Like we can do it on stream. Like we could post
your seed phrase. People may rush to, I mean we've already explained how it works
so it's not gonna work. But you can do that. I think it'll still work. I think it still works.
Like I think we could just do it, so it's not gonna work, but you can do that. I think it'll still work. I think it still works.
I think we could just do it tomorrow
and it's just gonna get at least four bytes.
I mean, I think it's crime also, but yeah.
Basically- Okay, well then we shouldn't do it
if it's a crime, but.
Yeah, I mean, basically I think that
with a hardware wallet, you can actually buy used ones, in
my opinion.
I don't see why not.
Yeah, I've been doing it for a long time just because I'm going to continue showing people.
You have to think through the thing.
You don't just Google the thing and see what the security freaks on the internet tell you.
It's like the same thing with expiration dates.
Like all women think that expiration dates means something
because they've just never tested it.
They've never said what happens if I eat this food
after the expiration date.
Nothing, nothing is what happens.
It's still the food.
It's like maybe milk expires,
but like dude, I found an expiration date on my contact lenses.
I fucking guarantee you my contact lenses
are not going to expire.
That's just to make you buy more.
That's just to make you buy more.
Like the FDA like mandated contact lenses.
Like they'd said like, oh, you have to have an expiration date.
You know what's a good business, because.
I mean, they are, they are like in water and they are made of like a, like some sort of
like a polymerized plastic compound that at some point will start like losing cohesion
or something like that.
But like not at the expiration date, bro.
Test it.
Just test, reach inside, check the rings. Check the rings rings on that bitch. You're gonna see it's totally fine.
I'm not a doctor. This is not medical advice by the way. I might be telling people how to go blind.
Yeah, door dash loans. Thank God. This is what we need. People who cannot
Yeah, if loans, thank God, this is what we need.
People who cannot get off of their fat asses to go get food
should be given the opportunity to split the payment
into four over a course of months that they pay interest on
so that they can receive one meal of a burrito.
Yeah, I believe every single COVID conspiracy theory, actually. Like simultaneously.
Like somehow they're all real and true.
It was like made in a lab.
It came from Batsoup.
It was CCP propaganda, Chinese scam.
It was developed also in the US in tandem with,
like, who is that guy, Fauci.
Bill Gates planned the vaccine thing with the CCP
and also Trump.
And Bill Gates.
Yeah, like they're all, everyone is to get their way.
And Rothschild, sorry.
I'm Rothschild.
I'm Rothschilds.
The Rothschilds avoided getting lumped in with that.
So now I think that the Rothschilds didn't do COVID.
Like that was one of the few times I never heard Rothschilds mentioned.
So like, but they did everything else.
Like I'm not absolving the Rothschilds of blame.
Like there was some Rothschilds but on it, there was some Rothschilds but here I just
googled it and it says fact check Rothschild did not patent the test for COVID.
The Corona crisis, Rothschild, Bill Gates.
But maybe that was like lower energy.
Bill Gates definitely got a lot of heat
because he was a big vaccine guy.
Yeah, that was pretty rough.
And I think the problem is that he predicted
the pandemic is coming because as part of his vaccine
awareness stuff for probably real vaccines
that you should take, he's like pandemics are coming.
A huge epidemic is coming.
And then COVID came.
The Bill Gates was just catching a big bullet there
because he's like, you never want to predict something
like COVID if you have as much power and money as someone like the Bill Gates was just catching a big bullet there because he's like, like you never want to predict something like COVID
if you have as much power and money
as someone like Bill Gates.
You just don't want to be making a lot of predictions, right?
Like there's a certain level of money
where you should stop predicting things.
Yeah, like if you're George Soros
and you predict war in some country,
they'll just think you started the war.
Yeah, and it's like, if you're wrong about the prediction,
it's still better than being right,
but it's also still negative for you, right now
You're just like retarded
But if you're right about the prediction like nobody assumes that you're a good predictor
They assume that you're like a good like influencer
Yeah, and you always end up hurting the cause you're trying to help like like study sorrows in like Burma, right?
Where he like said a lot of good words about like uh
Anson Q uh the like Oxford educated like Burmese woman and then like the opposition used it against
her for like two decades because they're like she she's back by the Jews like she's back by
globalist Jews you know so it's like you know yeah what what is what is this shit mean, man?
I hate looking at additive or subtractive yield curve inversion.
Two tens, yield curve on inversion, paired drop rates.
GFC is coming.
Yeah, probably.
What does this mean? Tell me if this means up or down.
I mean, there's an argument that like lowering rates
is very bearish.
Like it's coincided with like great financial crisis
and the yield curve shape right now is a bit ominous.
Like most people think lowering rates is bullish
because they're like, wow, lowering rates, I can leverage up again,
but it also coincides with like recession and depression.
So yeah, I don't know.
I think everyone just says, well, it worked last time.
Like it was pretty fucking good last time.
Why was it good last time? Why was it good last time, whereas this next time it might be cancer?
Good question.
I mean, history doesn't really repeat, it kind of rhymes, but it doesn't really repeat.
Also, economy is not that leveraged anymore.
The consumer, I guess, is leveraged, but there's no housing crisis now.
So the shape of the economy is quite different.
Do we consider credit card debt leverage?
That's not that much.
It's okay.
Like it's like minor leverage, right? But it's minor. It's minor. Minor leverage. That's not that much. It's okay. Like it's like minor leverage, right? But
it's minor. It's minor leverage. And I saw that this is this guy is just responding saying
this is a it's a bullshit indicator, which is what which is that's the cope that I need
because I don't want to fucking understand like yield curve comparisons. I've gone down that one. He's saying it's going to happen, but the indicator isn't
saying that. And then he's also saying that the indicator is retarded and fake.
Future apartments will not have kitchens. We're going to door dash everything.
Every meal will be paid for over four months, four monthly installments of whatever your food price is
divided by four plus interest. I don't mind door dash, but the delivery driver service
is so as dude, every time I go back to the States and use any one of these like meal
delivery things, it's just like you get some retarded stoner delivering it 90 minutes late. And you're just like, the food
already was dog shit. Because it's like American food that you
buy on like a like meal service app. And then it's like double
dog shit because it's been sitting in a stoner's car for
90 minutes. And then it's like triple dog shit because you have
to interact with a stoner even even in a very different and then tip in 30% right?
Yeah, yeah. And you're just like, and then if you don't tip them 30%, they give
you like a zero star rating and they, you know, so it's like the whole system is so
fucked. It's worse than Airbnb's. Airbnb's have managed to recreate like a more
expensive hotel in a way that is like less like sexually appealing to like women that you bring over there all
while having like worse infrastructure for like cleaning the shit making sure
that it's like settled and good and whatever and you wind up just like
living in some goofballs like renovated half of their house that they've like
put like a piece of plaster drywall in like the middle
of their hallway to like bar you off from it's just very goofy.
Airbnbs might work in theory for like a rental house, right?
Like that's, that's like when you should use them.
You should never fucking use an Airbnb, like to stay with a girl or for sex or if you just
need like one week to just get a fucking hotel.
And similarly, like you should never really need American food delivery or service like if you want to do this, go get like a full meal service plan
from someone who's going to like make everything out like you can.
You can actually choose like, OK, I would like maybe one and a half pounds
of chicken today and then I want some like veggies and carbs like like just, and then it's gonna cover all your food,
they'll deliver it at the same time every day.
You're like, oh no, I won't get to experience
like the new flavors, bro.
Like I won't, I can't get like,
oh, but I want the spicy burrito today, man.
Like fuck you, just eat the same thing over and over.
You shouldn't be thinking about food this much anyway,
unless you're like obese.
Yeah. Yeah. You shouldn't be thinking about food this much anyway unless you're like obese. Yeah.
Yeah.
You know what's a good business model
is those cloud kitchens.
So there's one called Ketope,
which is pretty big in the Middle East,
and globally as well.
But like there's a bunch of these,
like the Uber founder and that sort of thing as well.
Basically the idea is that you have these like headquarters for food and it gets
cooked there as well. Right. So I think like, uh,
like mr. Beast burgers,
like it's actually all cooked in the same facility in Manhattan.
And then when you order on the apps, you think it's like a restaurant,
but it's actually all come from the same cloud kitchen. So the,
all come from the same cloud kitchen. So the beauty there is that, and there are pictures that they
the, the beauty there is that,
get these chefs that are really good to like design the recipes and like design the workflow.
And then you can like start your own restaurant and it's a cloud restaurant. You can work with
their like chefs to like make the food and then then within a week, like you can deploy a restaurant
that can be ordered from on like an app within a week.
And then you can market it however you want, whatever.
So it's like white labels slash like, you know,
like restaurant as a service.
It's actually, I'm pretty bored.
So I guess I'm like Mr. Beast,
he sells so many burgers per year through cloud kitchens.
And you just think you're buying Mr. Beast burger
and it's just like a burger from a cloud kitchen but it tastes better
than most burgers that you eat because it's from a cloud kitchen yeah because
the benefit of cloud kitchen also is like it solves that like delivery
problem because they have these like giant logistics optimizations where like
they make sure that they can get the food to you fast it's cooked it's like
well it's well kept in the container so So if you order from a mom and pop restaurant and like...
Yeah, you get some stoner on a fucking bike.
And they're just like, well, I hope our stoner on the bike has good...
I hope his pathfinding algorithm is efficient because otherwise this food's going to get
there like 90 minutes late.
But then the kid on the bike, just his pathfinding algorithm is never that efficient.
Like just study Pizza Hut.
Yeah, so I think that could be cool.
Like we could start a restaurant, Lucas.
That's actually what I wanted to do in 2023.
Like I wanted to start a cloud restaurant.
I remember something.
I remember something similar.
What was it called again?
We should have just done that.
Well, there was Uncle Kyle's Chicken.
Honestly, if we had done that, honestly, it could be huge by now.
It could have beaten KFC already.
KFC is actually, like, they go pretty hard in Asia.
I'm not going to lie.
It might be hard to go up against KFC, man.
Well, if you look at it in Asia, the fried chicken market,
you have so many competitors now.
You have Texas Chicken, which is really popular.
You have Popeyes, I think, which kind of came and went.
You have all these Korean chicken chains that are really popular now.
So chicken market, I mean, is always big because people love eating fried chicken.
There's always a way to innovate on fried chicken in some minor way.
I don't know why, but fried chicken is kind of female coded too.
I feel like if you go to a Korean fried chicken place, it'll be like 90% women.
And they're like, oh my God, this chicken is so good.
Whereas you never see that at any other type of fast food.
So then we can launch the Korean chicken thing and then we can launch the dating app on the
back of the female user base that we've accumulated from the fried chicken.
We can say these beautiful fried chicken women that we have are here waiting for you.
But the only place you can ask them out to a date on our dating app is to our fried chicken place.
And if you ask them anywhere else or you attempt to get them off the app
by asking for their telegram or phone number,
it will censor the communication
and ban your account forever.
You have to come invite them to our fried chicken restaurant. Makes sense.
Yeah, home equity is solid, mortgage rates high, home equity is solid.
We're in like M2, money supply increasing,
we've got money printing in China,
we've got lots of, yeah, just cope.
Hmm, yeah, I mean, I think recession is like 20% odds.
That's good. So do we just not have recessions anymore? It's like we had a recession every 10 years.
We had the 08 recession, 2018 recession got pushed back to COVID.
And then it was like, we just undid the recession in three months.
And 2028 recession in theory, but maybe you're saying 20% chance we just don't do it.
Like where did the recessions go?
Did we solve recessions or are we accumulating
some sort of like financial, like spiritual debt
that we're not seeing?
I think it's a lot of, longer run, yeah.
So we're just gonna have-
I mean the US deficit, I mean the US deficit is hilarious.
Yeah, I mean the US deficit's hilariously big.
Trade deficit also.
I just assumed it doesn't matter now, right?
Kind of matters. I mean, yeah, that's why Trump is elected to he's trying to fix the trade deficit
I'm trying to fix the fiscal deficit
And then he gets it doesn't ever just hate you though
Yeah, but like he's making the bet that he can do it, you know, I
Think he's making the bet that like he can do it, you know. I think he's making the bet that like,
he can unwind a lot of the mentality.
Cause like government spending increase
is one of those Keynesian concepts of like,
okay, let's stimulate the economy.
Let's hire more bureaucrats.
It's like, wow, stimulated.
Now we have more flights from DC.
You know, it's like.
Biggest stimulus.
Wow, you seem like you need some sleep.
Yeah, I know my coffees are wearing off now.
I got too acclimated to caffeine in the States.
I'm trying to like wean myself off but the result is I'm just dying all the time.
We need to do that.
Yes, that's so you can finance your meal soon. We're gonna need DoorDash CDO. Yes.
That's so you can finance your meal soon.
So you can like-
No, you literally, dude, I'm dead serious.
You can do this now.
Well, there is, it's actually like,
you can take out like installments,
like monthly installments on like DoorDash.
It's insane.
It's kind of crazy.
Is that needed?
So if you're looking to afford food?
I don't know.
Like I, every time I've seen it,
I've just been like,
I assume this is like something that some guy said,
well, this will decrease the friction
to purchasing your product.
Like some, there's some BD or growth guy
that came into a company and said like,
I'm going to
revamp your apps purchasing page. This is something that people see a smaller number
here, so they must buy more at smaller number. And I'm just telling myself that they haven't
actually tested it. It doesn't actually matter. And nobody's using it. I'm like, Lucas, don't worry, man.
Nobody's using it. There's nobody. There's nobody who's
this financially irresponsible. There's certainly not a whole
country of people that are this financially irresponsible, that
are all taxpayers that you're relying on to like, pay off
anything like you're definitely not in the same boat as a large
group of people that are financing Uber eats meals, bro.
But like, there's a non zero chance that that's just giga cope.
And like there are there are like a lot of just huge retards out there that are instead
of going to like Costco and buying a rotisserie chicken, they're like financing a fucking
like a side bowl or something from some like green health restaurant. Let me see, let's see.
Okay.
How much weight do I put on
heuristics for BDC
global liquidity M2?
It's a nice looking chart right now. M2 leading
up and then Bitcoin.
It's a good meme.
Eventually it'll break
down because they'll be able to dip but
you know. It's a good meme. Yeah, eventually it'll break down because they'll be able to dip, but you know, it's
a good meme.
But M2 always goes up, so then mathematically Bitcoin will always go up, right?
So that's like a very nice, it's very nice to have a thing where like it tracks the thing
that's always going up.
It's like if your coin price versus like number of addresses.
People used to do this two years ago where they'd be like, they'd be like, wow, the number
of addresses is going up and the coin price is going up. That's crazy. And then eventually like number just stops going up and coin goes down 90%. Okay.
But number of addresses still goes up.
Yes. swap network update where it actually lets you sell all of your coins. That was the funniest part was where like you would still be a holder of like one teeny
tiny fractional token for everything.
So like the holder counts of literally every coin were just always going up.
Now Solana people learn how to just close the account. Is this true? Is this real? I guess.
Call it.
Well, I'm trying to answer American spirits thing here before we call it, but then.
Okay. All right. How far deficit would be under Kamala?
I mean, come on, we're more bullish because of the deficit.
Yeah.
Come on, one and so we're doing like 20 K.
Do you think she would have done it though, because didn't like Biden say that he was going to like,
he was going to like, absolve like 10k of student loans.
And then he was just like, okay, like I was only I was only promising that because like
I thought that like it was going to help me win the presidency.
But like, I'm not going to do it anymore.
You know, because I'm not the guy.
So I'm not running. So sorry, but I'm
rolling it back.
Okay.
Okey doke.
Well, Godspeed boys. I'm gonna end her.
