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Wonky Weekly Alpha - Ep. 94 (LIVE FROM BASEL)
Recorded: Dec. 8, 2023 Duration: 1:01:51Space Recording
Full Transcription
That tweet as well. Make sure to be on the lookout for it.
But all right, I am getting this going real quick. I'm going to step out on this balcony where I am.
And enjoy the nice ocean breeze while I sit here and talk.
It is the 94th consecutive episode of Wonky Weekly Alpha, live right now from Art Basel.
So, if you guys would like to join that request button, bring you guys up on stage with me.
If not, don't worry.
So, first and foremost, it's been fun down here, man, so far.
I ended up going to the Rug Radio event yesterday, made sure to rep the Stonks shirt while I was out there, which was a lot of fun, man, being able to display by far the best art in all of Miami, easily.
And, you know, it was recognized for that. So, I felt good about it.
Crow, my man, what's going on?
What's up, man? How's Miami?
Dude, it's good. It's good. It's been, you know, good trip so far, chill vibes. Got him yesterday.
I was an idiot the night before. Did not sleep whatsoever while I was packing.
So, I got about two hours of sleep on the flight going into yesterday, but caught up on some of that last night.
And, you know, like, I think the beautiful thing about these type of events, I don't know exactly what I have lined out for today, but, you know, you kind of go one thing at a time.
You figure it out, go to the next thing, and it all just kind of evolves rather than feeling this pressure of having to do certain things at certain times.
Because I feel like if you have these, you know, certain expectations for what you have to do, it just, it never really lives up to it, right?
Like, the pressure of doing that, especially with the way that traffic is, everything else in this city, you're not going to make it happen.
Yeah, just go with the flow, man.
That's it, man.
So, what about you, man? What are you up to? How is Philly?
Philly's cold, man. I wish I was in Miami, to be honest.
I'm in Gala, though. I'm in it. Highest hourly close since June. Let's go.
Yes, sir, bro. It's been killing it.
So, I mean, it's slowly but surely grinding up.
I mean, honestly, basically everything right now is slowly but surely grinding up.
You know, if Cosmos is slowly but surely grinding higher, that the market is a little bit frothy.
So, it's been good, man.
What other plays have you been in recently?
Nothing notable. I've been losing.
But I'm learning a lot. This is my first time trying my hand.
Oh, cute. I forgot that you recently decided to give it a go.
Yeah, I'm being more conservative, less leverage, and just, you know, swinging for contact instead of trying to hit home run every time.
That's been my takeaway.
Gotcha, man.
So, it was Vlad and the Room 110 crew who finally got you to decide to go down this rabbit hole, right?
Yeah, BTC, Art. He, like, kind of held my hand through getting set up on the exchange and learning the mechanics.
So, where are you trading?
Femex.
Femex, okay.
So, you were not a citizen of Plow.
Oh, now, Femex, I've heard decent things about.
I've actually never used Femex before.
But nice, man.
They're pretty, they're cool.
I like them.
Is that where Rooster resides as well?
Yes, I reside as well.
Or at least that's where I just found money.
And I was like, fuck it, let's run this bid up that I found on this exchange.
Fair enough, man.
How do you just find money on an exchange, though, is the next question.
I would love to go and just find money on a random exchange.
You know, walking down the street and you see, like, a quarter on the ground.
It's pretty much the same concept.
Except for you just go to a random website, you log on, and you just randomly have cash there that you druggedly deposited in one night.
Fair enough, I guess.
No, see, that's, yeah, honestly, I don't, I remember I used it, like, what, maybe 20, 20 something.
And I just went and logged back into my account, and I found some money there.
And I was like, oh, sick.
I forgot I had this on here.
And I'll start using this as my leverage cannon.
So how has, you know, I haven't really looked through it.
How do you feel, like, overall, the experience there is versus other exchanges?
I think its main attraction is, like, the limits and the no KYC is probably the biggest attraction to it.
Yeah.
I mean, I'm assuming that's a big part of it.
That, I don't really know.
I mean, it has sufficient enough liquidity.
I don't think it's as big as used by a bit.
Fair enough, man.
I mean, you know, it's one of those things, though.
I feel like every exchange that does not have KYC, it's only a matter of time before they get there.
Because the roulette, the way that it spins is, you have this table where the wheel is spinning.
And as, you know, somebody's like, hey, guess what?
We are the exchange that doesn't have it.
One of two things happens.
Either A, you know, something ends up coming after them, shutting them down for X, Y, Z reason.
Or B, you know, they grow to a point to where it's inescapable.
And they have to eventually implement KYC.
My biggest question is, with this next cycle coming up, how long is it until it's basically impossible to open up a centralized exchange without KYC that people can actually use and trust?
So, I think the era of KYC-less centralized exchanges is coming to an end.
It's not there yet, though.
Femex is, like, one of the last men standing.
There'll be a couple more that pop up.
Like, once the larger one, you know, as they grow and get bigger and then they end up, you know, caving, then a new one pops up, right?
But I typically don't – I won't just blindly deposit onto an exchange without it, like, actually being tested.
Like, I have no problem trading on DEXs either.
Like, yeah, sure, sometimes I – you know, it's just people not going to want to be paying the gas fees.
It's not too crazy right now.
It's still, you know, manageable to still get profits even with high gas.
And then a lot of people are, you know, a lot of activities on Solana nowadays as well, which is a lot cheaper than Ethereum.
But, yeah, no, it's – Femex I like.
They've always settled.
I've never had any issues with them.
Fair enough, man.
Sorry, I didn't know if you muted there and cut out whenever I was bringing Pythonomics up to the stage.
So, all right.
I – just for everybody's sake, quick pause.
I did go ahead and tweet out a giveaway for today's space.
I kind of like that stonk.
I like the gradient with it.
Kind of reminded me, you know, it's not quite Miami Vice themes, but it's kind of got, you know, that – a little bit of the same type of vibes.
You know, the sunset type vibes kind of reminded me a little bit of that as I'm here this week for Basil.
So, I thought it would be a solid one to give away for today's space.
All you have to do is go up there, like, and retweet that, and actively listen until I do the giveaway, right?
Like, I'm going to go ahead, I go through the list of everybody that has liked and retweeted that tweet, and I randomly generate a winner.
And then from there, I just double-check and make sure you're actively in the space.
And if you are, boom, you get your stonk.
So, that easy.
Yeah, you know, so go ahead and make sure to do that.
Drop a comment on it, too.
You know, I mean, like, the comment won't get you any extra invites.
It should.
But, you know, you should drop a comment on there just for the culture.
So, okay.
With that pause, we will now – and you know what, too?
Like, I am going to be giving away throughout – like, there's no reason to not continue to give away these stonks just to be able –
you know, for the culture.
I look back, that was another thing I think that really kicked off the run the last time was just, you know, generosity.
And giving away to be able to grow the community, get the word out there.
And, dude, I'll tell you, like, I'm being absolutely serious.
Wearing, you know – like, I'm wearing my stonks gear as much as I can here in Basel.
I just feel like it's one of those things when you have a project, when you have high-quality art, you want to share it.
So, actually, there were a lot of conversations that ended up sparking up yesterday because of the stonks shirt.
So, you know, love to hear it, love to see it, love to see what other people are working on here.
It's just a good vibe, man, being able to connect with people in person.
Pythonomics, my man, how is it going?
Good to have you up here.
GM, GM, thank you for having me.
It has been a whirlwind of a couple weeks with the crazy market moves and just the overall degeneracy in the market.
I'm loving it.
So, what is your current play right now?
What are you focusing on?
Right now, I'm actually still being a cash maximalist.
I dug myself into a pretty deep hole over this year.
So, I'm still trying to climb my way out of it.
Part of that involves, you know, having a nice big portfolio of pandas because pandas will pump and they will pump hard.
And I think they'll pump even harder on the Solana ecosystem because there's no bridge right now.
So, there's kind of like an extra rarity factor associated with it.
But other than that, it's just been kind of in and out on various Solana tokens.
Like I traded Jito, I traded Bonk, Flowmatic.
I still have a bag of Flowmatic, by the way.
So, it's just kind of, you know, finding decent setups, jumping in, jumping out when I feel like it's, you know, ready to correct and then finding the next one.
So, yeah, it's just been all over the place.
My sleep schedule is completely jacked up.
So, I mean, all of this, though, even with a jacked up sleep schedule, it's not even leveraged right now.
Like, you were just playing in a shitcoin casino and rolling the dice, which, honestly, that's the thing that people don't understand.
The shitcoin casino in and of itself may as well be playing with leverage, depending on how degenerate you are.
Because you don't know, you may have a position, and it's basically playing with 100x leverage.
Because you see a name, you see a ticker, you don't know anything else about it.
You ape into it, and you don't know whether you're going to wake up the next morning to a 10x, or whether you're going to wake up to a rug, which is basically the same thing as liquidation.
Yeah, you can wake up to both.
You can wake up and it's 10x, and you don't sell and just watch it rug as well.
You're not speaking from experience, are you?
Oh, no, absolutely not.
I've never round-tripped anything.
What a chat.
What a legend.
You know, I've round-tripped to so many things.
So what's the biggest win of the week, Pythonomics, as far as anything with the, you know, are you primarily playing with soul shitcoins?
Are you playing with Uniswap, like, and the ETH shitcoins?
Or, you know, have you been on the AVAX stuff?
Because I know AVAX has had a bunch of meme coins that have been popping up over the last couple of days.
But, like, where have you primarily been focusing on?
So I've avoided Ethereum.
I actually just tried trading a meme coin over there just to test the waters and immediately got rugged.
So I was like, you know, I'm done with this ecosystem.
So I've been focusing primarily on Solana and AVAX.
AVAX, I've primarily been playing the majors there.
I haven't been playing memes.
You know, I'll play the AVAX, the native token itself, and then kind of the utility tokens there.
So things like Joe for Trader Joe's, you know, exchange and some of the gaming tokens as well.
So it's been fun, but I feel like Solana has all the attention right now.
So that's where I've been focusing most of my time and most of my kind of energy to see what's popping over there and see if I can print.
I love that, man.
I mean, it's honestly, this move, I didn't expect it to be this violent this fast.
You know, I was expecting, like, actually, here's my deal.
I think up to $80 Sol is kind of what I expected for this year being the top.
So we're getting closer.
And I really wonder, you know, I'm not positive what ends up happening from there, man.
I'm a little bit, I kind of feel like we're due for just a little bit of sideways chop for the market where, you know, pull back, end up consolidating in this area for a little bit.
You know, a few months of accumulation before anything really major happens outside of that.
But, you know, with the way the market's been trending, it's also just difficult to sit there and say, you know, to fade the possibility that it could just keep trending higher.
Right?
You know, strength is a difficult thing to fade, especially when we've looked at what's been happening recently.
So it's one of those things where I think the way that you de-risk right now is not by trying to get greedy and doing any shorts and saying, hey, you know, like, it looks a little bit too frothy.
Let's go ahead and try to catch that and try to, you know, like, what is the point of capturing the 20% downside when you're talking about over the next couple of years, a two, 300% upside with the market?
So I think that, you know, maybe if you have some bags and you're riding with it, selling a little bit, like you said, being not necessarily a cash maximalist, but having some dry powder to be able to buy those dips and be able to participate in those plays as they happen are important.
But, you know, I just don't think it's the opportunity.
Like, now is not the time to really be fading anything that's trending.
Yep.
The trend is your friend until it ends.
So, you know, write it, write it while it's there.
You'll know when it ends.
And that's when, that's when you step away and kind of just reevaluate.
Like, I've been kind of testing the, the euphoria in the market.
And this is going to be a little bit of a shill.
So, um, yesterday I launched a website, a very simple website, uh, just to track how much the D-God's, uh, bonk allocation would be worth had they kept it instead of, uh, it getting burned and then moving to, to Polygon.
And, um, that post blew up.
Um, I mean, there's so many degenerates in the Solana ecosystem.
There's so much hate for Frank in this ecosystem.
It's absolutely hilarious.
I was not expecting this to, to get as much traffic as it did.
And it's just, it's amazing to watch it.
Bro, I saw that.
I, okay.
When I first saw you share it, I didn't realize that you were the one that built it.
So, I think that's incredible because, you know, for the rest, as long as bonk is continuing to pump, which who knows how much longer it has.
Honestly, from the rumors I've heard, there's a Coinbase listing coming up whenever that's officially listed as the top.
Like, it's that simple.
The Coinbase listing will mark the top.
Um, and it'll probably mark the top as far as looking for, hey, one's a decent time to maybe not, you know, be so degenerate with some of these different meme coin plays in the Sol ecosystem.
It's probably coinciding with that.
Um, you know, like for instance, when you look at Pepe, where whenever Pepe topped out this summer, there was a several month pause before everything really started to move again.
Right.
So, I think it's the same type of thing with bonk.
Bonk is, you know, playing it similarly to the way Pepe did back then, just in a different, you know, ecosystem.
Um, when it tops out the rest of the shitcoin market cap for, or not, not market cap, the rest of the shitcoin market cap for Sol probably does as well.
Um, so the question really is, is how long does it take until it gets there?
How high can it run before it actually happens?
So, I don't know, man.
We'll see.
Yeah.
I mean, like looking at bonk, it looks like it's the same playbook as, uh, Shiba Inu last cycle.
Um, it was kind of the same thing.
It, Shiba, um, did a 10X or something from, from the bottom prior to the Coinbase listing, went all the way to the top, Coinbase listed, it dropped.
It, it basically retraced the entire move and then it ran again.
If, if bonk does the same thing, I think I'm going to have, uh, I'm going to be able to retire, uh, before the real start of the cycle.
So how early did you get in on the, uh, the bonk play?
Uh, I was not very early, to be honest.
Um, I actually, I had a bag in January that I purchased and then I fumbled it.
Lost that.
And then when it started rising again, I, I, I hated it.
Cause I was like, no, I fumbled that bag.
I don't want to touch this.
And then I eventually just, you know, got over my ego and purchased it somewhere around like, uh, what?
7 million market cap.
I think it's at 10 right now.
Uh, no, not, not million.
Sorry.
Um, 700 million and 1 billion.
So I, I, I did the, I did basically a, what a 30% move there.
Um, and it was, it was pretty good.
It was a pretty good win.
Um, I am hoping that when it does retrace it, it goes pretty deep.
Uh, not, not because it'll hurt other people, but just because I want to bite some cheap
bump.
That's fair, bro.
I mean, I get it.
You know, the question always becomes whenever something does retrace like that is, do you
have the balls to actually follow through because whatever it does one, it's kind of difficult
to actually catch the bottom of a falling knife.
Like odds are, if you try to catch the bottom of a falling knife, you know, it's going to
go a decent percentage lower.
So a, you have to be willing to accept the volatility risk.
You know, you have to understand in that situation, okay, I'm doing this for a longer
term accumulation play rather than something else.
And as much as people preach DCA, I think that's what you really have to do with the
mentality of trying to catch those dips is saying, okay, this is an X month plan.
Um, I am going to slowly enter.
I think that starting to do it at this point's a good idea.
You know, I think that's the type of play for it, but you know, again, it just depends
on what point of the market cycle we are as a whole.
Um, because yeah, there are periods right now where you'll have these massive sell-offs
and you'll have, you know, the next day it'll end up completely recovering.
And it's, it's been crazy just seeing the overall progression of it.
Bonk has completely exceeded my expectations.
I expected it to run to do all time highs.
I didn't expect it to happen this fast.
So, um, yeah, you know, but it's fun seeing that coins are doing that again.
You know, it's encouraging and we're starting to see that confidence seep into other areas
of the market.
I mean, we've obviously seen, you know, there've been several NFT projects that have started to
get some solid love recently, you know, talking about the pudgies and price discovery, um,
talking about the pandas right now, starting to pump back up, you know, there are several
projects that are starting to move like that.
And I see at the high baby.
What's that?
It's a new USD all time high.
Love that, man.
I mean, it's, it's slowly happening.
Right.
And there's still a lot of projects.
I think it's one of those things where, you know, the way I look at it and, you know,
like I'm looking at the stonks and stonks have basically still been a stable coin the past
several weeks relative to watching some of these other move.
And it's easy to sit there and say, man, all right, what like, you know, I don't want to
say feel discouraged by something like that, but you know, it is, you know, I think in this
market, when you look and say, you know, like it's easy to have FOMO, maybe a better way
of saying that as you see some of these other things move, but I truly believe it's one of
those things I've seen enough of these cycles before where that confidence does bleed down
across the rest of the market.
And it's continuing to just position yourself, do the right things, show up.
And eventually when it happens, you know, things move fast and not everything always moves at
the exact same time.
Right.
So, you know, I, I really believe that confidence is going to bleed over.
I think there is, you know, as much of a fit for the stonks as there ever has been with
just the generative art side of things from the trading perspective, the history of the
of it, like the stonks are inevitable, man.
It is a matter of time.
It's a matter of when, not if still, you know, for manifesting, um, that, that next leg up.
Like I really, you know, as much as I can't, I mean, I think the community is going to continue
to grow.
It's that simple, man.
There are a lot of people out here.
That's one thing that I've realized if nothing else from Basil, like with wearing that shirt
around is just realizing like how many people are familiar with the stonks and how many
people are familiar with the story and with everything else with it.
So, um, yeah, man.
Chewy, dude.
What's that?
You got to do a chewy in the middle of, uh, Art Basil wearing a stonk shirt.
Bro, there's, that gets you all the clout.
That's it.
That's it.
That's, that's the insta-pump.
Um, I, uh, I made a, or I didn't make all of them, uh, but I was tweeting a couple stonks
memes yesterday that I quickly whipped up and thought was funny.
Um, I really love the, the people rendition that Yakima recreated upon my request.
Uh, thank you again for that one, Yakima.
That might be one of the best memes to date.
Um, but yeah, I was posting a, posting a few memes yesterday.
Uh, yo, pin some of them.
You got the one of you icing your balls.
Yeah, I, I want to see some of these memes for history I've got, too.
I think I saw a couple of them, but I don't know if I saw all of them.
You have any plans to get up with the, the pudgy people?
I think they're having a party, right?
I am.
I actually saw a lot of them connected with some of them last night at the rug, uh, uh,
radio event, the R house event.
Um, so I am going to go to the pudgy thing tomorrow.
It's tomorrow evening.
So I will definitely be there connecting with those guys.
Ways yet.
What's that?
I've not.
You haven't met up with B ways yet.
What the fuck?
I DM'd.
Oh, shoot, man.
I just realized I've got a long ass DM back.
I was going to say.
I, I did DM him and say, actually, I try to figure out what he's up to.
Like, it's, it's tough.
Uh, dude, I, I don't know.
I realized, I don't know if you have messaged me slash have my, uh, my telegram, but I'm sending
it to you right now.
No, I have not yet.
That's easier.
So that's going to be way easier.
I'm checking telegram much more frequently than I am Twitter DMS right now.
Yeah.
We'll make something happen either today or tomorrow.
Definitely.
Like, I mean, right now though, I'm going to, um, I'm staying in the midtown area with a
buddy.
So, um, you know, I think tonight's plan be ways.
I'm, I'm pretty positive the game plan here in a minute.
Um, I'm supposed to go to the South beach side for just a couple hours this afternoon,
but this evening I'm pretty positive.
Some of the events that I'm going to are all going to be one wood side.
So that's kind of the game plan right now.
I'm not, dude, I don't even know what, what events I have actually accepted.
I just know that I told a few buddies that I would go with them to them.
They're like, Hey, got you some spots for these things.
And I just kind of blindly said yes.
So, you know, because again, for me, it's just about the people more than it is anything
else.
So don't worry.
Be ways time is going to be, you know, it's going to happen.
I want to hear though.
What have you, what have you enjoyed the most so far the past couple of days?
Well, yesterday I was kind of out of commission.
I was working and extremely, um, hung over from the Wednesday night party.
Went to like an ordinance party on the beach.
Um, Nolce, but it went a little bit late.
So I just ended up doing non art Basel stuff or non crypto art Basel stuff for the rest
of that, um, night into the morning.
So yesterday it was a little bit quieter.
Funny you say that, but about today, because I will actually go to Wynwood now.
There is, um, one I look forward to is a Fomoji's party.
I don't actually own a Fomoji, but it's like one of the kind of most well-known
ordinance projects.
And I think it's open to non holders.
So go and try and talk to some ordinance people there.
Uh, I think there's a Jack Butcher pop-up where he's, he's been tweeting about, which
seems pretty cool.
It's releasing some, uh, some glasses, like some, uh, some actual physical sunglasses.
It's like 0.11 ETH or whatever.
Um, I think he has a few models there, like, uh, prototypes, which I want to check out.
So the first thing I'm going to do, uh, I think that's pretty cool.
And then there's like a tensor store pop-up also in Wynwood.
It's all in the same area where, uh, I think there's a lot of projects involved, artists,
um, obviously more Solana.
I think also Fadis from, uh, from Sui, which I still vibe with.
Um, so I'm going to go there as well and check out some art.
So yeah, a lot of stuff in Wynwood for me.
So I might just think around tonight and, uh, and then meet you there.
See, I love that, man.
Like you, you've got your, your finger on the pulse as far as everything happening.
I'm just overwhelmed.
And I feel like it's one of those things where I, I almost, it's almost more preferable
for me to not know about every single thing happening because I feel like the more that
I know about, the more that I want to do everything and it is absolutely impossible to do everything.
Um, but I, I really hope to spend more time on this side of the bridge tonight.
It is just such a pain getting back from South beach.
That's why last night, like I stayed at the our house thing until 2am because I was like,
I am going to wait until there is zero traffic whatsoever before I even attempt to get out
of here to be able to make it somewhere else.
Um, now the ordinal stuff is cool, man.
I'm like, I love seeing that there's a decent amount of it actually popping up.
That's one theme that I've talked about with several people though.
B ways is just how ordinals are coming still.
And the whole thing, actually, I want to, before I comment on it, I want to get your take
on the whole, uh, you know, Luke dash and, you know, the ocean pool, all that type of stuff.
What is happening as far as the drama there?
What's your take on it?
Yeah.
I don't know Luke at all, but, um, obviously there was a tweet that he put, uh, very prominent
like Bitcoin maxi and, and part of a big mining pool who kind of, uh, essentially saying that
ordinals are spam on the, on the BTC network, um, and that's future upgrades will kind of,
um, prevent that spam from happening.
It's, he didn't, I don't think he used the word ordinals, but, um, I was very clear that
he meant that spam is ordinals and that caused quite a bit of thud in the, in the market of
ordinals from people just dumping some, some JPEGs, some of these more meme coiny BRC twenties
because they were afraid that it actually was true.
So I, I personally, I mean, I personally think, I don't know the technicalities enough to
judge whether or not that it's possible.
Um, but I do know that it doesn't seem to be taken that seriously by, uh, more moderate
Bitcoiners, uh, and obviously not the ordinals community.
Um, so yeah, it felt to me like a very extremist, uh, close-minded and I feel it in general.
It's like a tiny proportion of, of Bitcoin, um, maxis.
And it's not even Bitcoin maxis.
It's like people that believe that Bitcoin should just be some sort of electronic mode
of payment, but not even payment, right?
It's like an electronic mode of stacking a reserve asset or whatever it is.
I don't actually know how to think about it.
Uh, but it has a very tiny minority, but they have obviously a lot of power and a lot of,
um, concentrated wealth there.
Uh, but I think probably most people, uh, don't see it that way.
And I think you've seen, you know, calm return to the market a little bit, but, you know,
with all the attention on Solana now, I think just a little bit of, uh, a little bit of
consolidation on ordinals is my sense.
Was there really that big of a sell-off due to it?
Like, did you see a cool off of the market after?
Yeah, yeah.
A little bit.
I think on the JPEG side, on the ordinal JPEGs, let's say, um, and art side, I think
a lot of things we traced maybe like 20%-ish, but after a big run-up, so it doesn't really
feel bad, to be honest.
And then on the BRC20s, which are the kind of more meme token, um, or early meme token
implementation, those went down.
They were running up super hard before, so they all like two to five X'd and they went
down maybe 30, 40% or 50% in some cases, um, after that.
But yeah, nothing too dramatic.
I think still, it feels, uh, it's kind of early days.
I'm happy to talk more about, I think the vibe that I feel in Miami here, although I haven't
done too much on the ordinal side so far, uh, it's definitely very much art and tech
focused.
So a lot of art conversations, art installations, uh, and then a lot of conversations around,
you know, obviously the protocol itself, because it's so early, right?
It was only released less than a year ago.
So it's still a lot of discussions on actually what needs to be built to make the experience better,
et cetera.
So that this, I think a lot of, a lot of good conversation like that going on, I hope,
but I'll find out more this afternoon as well.
Well, the one thing I'll say toward that whole discussion, the ways that I, I really got as
far as conclusion is like you said, I think when you have rapid growth in a sector, like
what you've seen with the ordinal space, you know, it comes in waves and these type of
FUD, you know, events are actually huge opportunity moments because you're at an inflection point
where I don't think ordinals are going away for, you know, the, I've read several things
back and forth.
It doesn't really look like they are going to be able, you know, as much as they're pushing
for it to be able to censor those transactions.
I just don't think that it's really reasonable, feasible, et cetera.
So in the meantime, though, there's a huge spotlight put on it and there are more people
than ever that are familiar with it.
So it is in more people's mouths.
It's in more discussions, more conversations.
And at the end of the day, what that really ends up being is growth, right?
If it is not this ordinals killer, like what, you know, the FUD makes it potentially out
to be, then it ends up being an ordinals growth catalyst.
And, you know, in the meantime, for the people that actually believe in it, you know, it's
something that does end up bringing opportunity as far as being able to maybe enter into something
that, hey, it was moving a little bit too fast.
And maybe you missed something and now maybe you have a retrace.
And, you know, for the people with higher conviction, FUD brings opportunity.
That's the key thing, right?
Like, and I think it's, you know, FUD slash, or it's conviction slash patience.
With anything that you have that you are looking to continue to invest your time in, invest your
capital in, you know, it's conviction plus patience.
You know, it's like, that's the NFT market in general.
Yeah, I couldn't agree more, actually.
And sentiment-wise, it feels, only sentiment-wise, there's a lot of differences, but Ordinal's
vibe right now in the last few months doesn't feel too different from Solana NFT vibe, whatever,
eight months ago, nine months ago, where actually within the community, there was a lot of excitement
still.
And people were just vibing.
They survived some of the bad times.
And some cool stuff was being built, but outsiders didn't take it serious, right?
They're like, this is a dead chain.
This whole thing doesn't make sense.
Solana already lost SBF, FTX, all the narratives that people on the surface kind of vibed with,
right?
But that weren't actually true.
And I feel a lot of that same kind of fundamental setup with Ordinal's, where it's just being
faded.
And a lot of the fade is just not for good reasons, in my opinion.
So yeah, I see a lot of parallels there.
And we'll see in like six months, you know, how it goes.
I could see something happening like it's happening on Solana now.
Obviously with lower volumes, because I kind of really support it.
But in terms of excitement and money flowing in, I could see something similar play out.
That's fun though, man.
Like we are, you know, the crazy thing too, that I was thinking about the other day, we're
still at such early stages of, of this market in general, you know, we are having so much
fun right now and we're not even at the having, you know, it's, it's still another like four
months, four or five months away.
Like, dude, that's what I was like thinking about to myself is there seems to be a lot
of euphoria on the timeline, but there are zero normies back.
So I'm like, I don't know how to feel about that.
It's crazy, right?
Like we are having fun and we don't even have new entrants that are really returning to
the market yet.
So it is, I mean, maybe a few, but maybe like right now it's just the same people with
more confidence and we're, I think maybe some people that left for a while have come back.
Like maybe that's happening, right?
But as far as just new blood coming in, it's not really here yet.
And it will like, that's the thing we, we can sit here and people can speculate if, if,
if it's not an if it's going to happen and it is going to be on a scale.
Unlike anything, the majority of people here expect, we are so incredibly early.
And I, I do believe that, you know, it's, it's going to be insane, man.
Like the more growth that we have right now, the higher the launch pad for what the next
two years are really going to do, because that's where the real fun is going to be is
2024, 2025.
Like it's what I've preached for a long time, what I really truly still believe.
And it's, man, it's, it's going to be crazy.
What I thought about is like, at least in my bubble, it seems like the people who stuck
around the most, like throughout the bear market, whether it be, you know, the in their
bags, so they just became a community member and they just dumb so hard, you know, they've
just, you know, forcibly became a community member or, you know, those who actually believed
in the, you know, the space and the projects that they owned and have continued to stack
more, right?
Like the NFT people are the ones that held it down at least socially, uh, throughout the
entire bear market.
I mean, a lot of people were down massive bags, um, but you still had community, right?
And there, if you found the right group of like 10, you know, 20 people or so, sometimes
even group chats of like a hundred plus people, like if you found the right group, you probably
have an okay time throughout this bear market and are part of the reason that there is confidence
coming back in the market.
Because you were one of those active participants, I think people are underestimating how much
this cycle is going to eclipse last NFT cycle.
Honestly, I do.
I don't think, I don't think last cycle was even close to the amount of activity we're about
to see.
Uh, yeah, no, that's the whole thing, right?
NFTs.
I really like, I believe in general coins are going to pump and there's going to be some
big pumps that come along with that.
NFT are going to be where the majority of the opportunity is.
And I actually think the NFT pump will last through 2026.
Like, you know, I, I don't think it's just going to go away after the next two years.
There's still going to be opportunity in 2026.
It's just the real frothy early stage stuff is going to be the next two years, right?
Like where you're going to see the real catalysts of the blue chips of old that are cemented are
going to be in the early stages, you know, sometime here in the next year.
I'm scared to take profit on anything I had like, yeah, a number on screen has gone up,
but I haven't sold a damn thing yet.
So, you know, essentially I'm still in the same position.
I was 60 days ago before everything pumped.
Uh, cause I, I'm just absolutely terrified to realize any profit right now.
Um, I know as soon as I sell something like including mad lads, like, you know, they're
only trading at like a $15,000 floor right now, even though that's a 10 X from my initial
entry, I know as soon as I sell that, um, they're going to shoot like straight up to
50 or 25 or the same thing with pandas.
They just breach new USD at the high, but I can't, that's still undervalued.
Stonks absolutely not selling anything at this level.
Like it's, yeah.
So I'm, uh, I'm kind of honestly stuck right now.
Just absolutely terrified to take any profits.
Rooster, rooster, please, for everybody's sake, please sell a few of everything.
Send everything.
Oh, absolutely not.
I will either round trip this entire cycle and then 20, 29, watch out or graciously.
And then I'll be able to slowly exit some positions while holding my bags.
So we'll see.
Yeah, maybe I'm not selling now.
Uh, I like, for instance, you know, I, at one point earlier, I think a year ago had listed
my, uh, my honorary Panda for like 42.690.
I, I would not even consider doing that right now at all.
It just, it does not, you know, or maybe it was 69.42, 69.42, maybe.
And then I'd like sweep a bunch of other, you know, pandas, like the smaller ones with
But, you know, overall looking at it from the perspective of where this stuff is going, it's
like, if you've got a bag, you hold onto that bag.
And, you know, there's, unless you really believe this is the top, right?
If you don't think that there's any chance the market continues to grow over the next two
years, which if that is your thesis, please sit down with me and tell me what everybody
else is missing as far as like, what's going to be the thing that kills crypto at the end
of 2023 into 2024, 2025.
It just, it's, you know, it's stupid.
Nobody, nobody thinks that.
So I think patience right now is the key thing, right?
Like there'll be a point obviously with certain things where taking profit is important, but
I agree with you.
If you don't have to across some of these collections right now, there's no need to.
And, you know, it's, it's just fun, man.
It's fun seeing this vindication for people that have had that conviction over the past
couple of years start to play out.
Um, and we're still super early in it, man.
There are a lot of different projects that deserve that type of love that haven't gotten
it yet.
They will.
Um, and you know, the projects that have like all because they have doesn't mean that they
won't see anymore.
Right.
Like it's, you know, there's, I, I'm so bullish on everything with this space.
It's not even funny.
Same.
Got to set it all with haste.
Uh, I think stonks need to go to one ETH soon enough.
I think as soon as, um, as soon as ETH NFTs find some more momentum, I think the momentum
now is kind of limited to obviously paying the budgies that haven't done extremely well
and the pandas on the IP side, both been crushing it, but the rest of, the rest of ETH
NFTs has been a little bit under highlighted with everything on Solve.
But at some point it's also, that's also going to happen, right?
I mean, it's not like ETH NFTs are dead.
So when that happens, I think, well, that's going to be pretty violent as well.
Like the kind of moves we saw with like pandas and actually were the women pumped as well.
There was a few others.
I'm, I'm being not fair, but, um, you know, but there's still a lot of money there.
Some is flowing into Solve and Ordinals, but there's still a lot of ETH that wants to
go into NFTs on, on ETH, right?
And that's going to happen at some point, I think pretty violently.
I don't know when, but some point.
The thing is, man, you just look for solid communities.
And, you know, like people will meme and laugh about that outside of the NFT space, but it's
so true.
You know, you look for the people that have stuck around where you've got this large percentage
of the overall collection that are in people that actually really do care about its hands,
that are active members of, you know, NFT Twitters, you know, crypto Twitter, et cetera.
Like that, you know, have put in the work over the past two years.
That'll be here the next two years too.
Like those are going to be the people that really shape what this next cycle looks like
and the collections they're part of have influence naturally.
Like it just happens.
It's part of it.
So I think that, you know, again, it's just, it's exciting, man, to know that we are so
early and to see vindication that the NFT market isn't going anywhere.
It is back, right?
Because even two months ago, I felt like there were people giving me a, you know, hard time
for some of the tweets that I'd put out there about how much conviction I had in the NFT marketplace
and where it was heading and about it bottoming out.
And lo and behold, what's happened since then, right?
Like we're starting to see a turnaround, but it's still super early in it.
So, you know, I think that's something to preach across the board for everybody.
It is so early as far as the NFT marketplace is concerned right now.
It's not even funny.
Like the majority of crypto, because, you know, I think if there's one edge that I get
from coming from the crypto Twitter side, it's that the majority of people from crypto Twitter
still think NFTs are a joke, are worthless, and don't, won't ever have a chance of running.
And which is so stupid to me, because meanwhile, they're punting on whatever the most random
meme coin is, and they believe in that, but they're like, oh, the idea of buying a JPEG,
oof, you know, that's dumb.
And I'm like, bro, you're buying, you know, Harry Potter, not Harry Potter, Obama, Sonic 10,
Neenu, whatever, I mean, maybe, like, and you believe in that, but you don't believe
that a JPEG of a Panda or whatever else has a chance of running.
It's just, I don't know, man.
There are people that don't have...
So Twitter bros are lonely.
They're lonely.
Every trader thinks they're the best trader, you know, in Web3, and anybody who disagrees with
them is just simply wrong.
And then they build up enough of a following that then they start shilling shit coins that
they get early access to.
But, like, no, yeah, it's pretty amusing.
And the fact that Forbes, was it the Forbes article, marked the exact pico bottom of NFTs,
not even, what, three months ago?
And then whoever, that dude on that TikTok or whatever that was, like, talking over it,
over the Forbes article, like, it's actually comical, like, how entertaining things play
out.
Like, as soon...
That was an obvious bottom signal.
Like, what, honestly, one of the most obvious bottom signals that you can see is whenever
a massive company like that, who has massive reach, just calls something like NFTs dead.
And if you've been in the space at all over the past, you know, throughout the bear market,
you'd obviously know that was capped.
Yeah, no, it's just amusing.
Well, you know, it was Barstool, too.
Yeah, Barstool, yeah, everybody.
Everybody was hopping on the NFTs are dead.
And then they tried to bring up, like, oh, we haven't touched on this, dude.
Did you see someone posted on Reddit, in the money subreddit?
They're like, I have a $20,000 offer on my Pudgy Penguin right now.
Uh, and then just the comments in that, like, Reddit were absolutely hilarious, dude.
And it's been a meme over this past week.
It was honestly probably one of the funniest things I've seen this year.
No, I haven't seen it.
Like, um, oh, shoot.
I had a winner for...
Actually, no, they're in here.
Okay, I've got a winner for today's stonk.
Um, it is...
Kid W3.
Alright, so Kid W3.
Looks like you are a bodoggo.
Um, and now you are also about to be a brand new stonk holder as well.
If you want to come up on stage and say something real quick,
you are definitely welcome to.
Um, you don't have to.
I'm going to shoot you a DM here in a second.
But I would love to have you come up here, join stage,
and just tell us a little bit about yourself.
Um, just as somebody new to the stonks.
But again, I'm going to send you that invite.
Don't have to do it.
I am going to send you a DM.
It will be for me.
Don't reply to anybody else.
Say, you know, and just shoot me your ETH address.
You don't have to sign anything.
I will send it to you.
Um, let's see.
I'm DMing you now.
There he is.
I got to run in the meantime.
Congrats, man.
Congrats and welcome to the community.
Alright, man.
Take it easy.
Be ways.
I will.
You've got my telegram now, so I will see you soon.
Um, all right, kid.
Welcome up to the stage.
Congratulations, sir, on the new stonk.
It is going to be sent your way here in just a bit.
Uh, tell me a little bit more about yourself.
Happy Friday.
Happy Friday.
Kaleo, I've been following you for a long freaking time, man.
I've been in this thing since, uh, 2021.
Got sucked in with the Meta Thugs and just been riding this thing ever since.
And I've been following you along.
And I've been keeping my eye on the ledgers forever, forever and ever and ever.
And, um, I just, I'm thankful.
I appreciate it.
Of course, man.
So when, when did you first get plugged into the space?
So I got plugged into space back, like I said, back in November, 2021, when, uh, Chris
Brown, unfortunately, was pumping the Meta Thugs.
And that was when, you know, everyone else started to ride that same wave.
And I'd always kept my eye on like the tech industry, web three and all that stuff.
But I had never officially like stepped into buying crypto and anything else.
But once I seen like the NFT started to come on, that's when I first started to get in
the market and get involved a little bit.
Okay.
So you've been around for a minute there.
Yeah.
I seen a lot of shit and I lost a lot of shit.
So, you know, we're all been in there and just following that you got you, you specifically
has helped me along my path and just following a lot of the guys you surround yourself with
is just been a good guidance.
So it was just, I got an unfortunately in a bad time with and following bad advice and
people.
So it's, it's good to be in the spot right now.
Well, that's tough to hear, man.
I mean, I think that that happens to a lot of people getting in and, you know, unfortunately
the re the reality of this is it's super easy to get in at what in retrospect is a bad
time because that's when the most hype is right.
Like naturally the most people are going to hear about something during the most bullish
point of it.
And which means you're going to have a lot of new entries that have these terrible entries.
But the thing is, if you have conviction to stick around the space, eventually with
this space, if it does continue to grow, which I believe it will, they end up in retrospect
being good entries.
It gives you plenty of time to learn, plenty of opportunity on the downside.
So I, I love hearing somebody that's been around through that period.
Um, just having the opportunity to join the community is awesome, man.
You don't have a stonk right now, do you?
I do not, but now I do.
So I'm like, I'm pretty excited to join you as community.
Love that, bro.
I love, I love that you were onboarded by Chris Brown and stuck around for easy.
Like that's, that's amazing.
It really is like, I mean, it's a unique story, but I wonder how many other people that have
been onboarded by those types of celebrities actually had the balls to stick around after
because some of those rugs were brutal.
Um, Eddie, bro, I gotta, I gotta send you a stonk to like, shoot me your ETH address because
you, you're always up here on the space, the stage is with us.
So, you know, like I appreciate that.
Yeah.
I'll, I'll, I'll give you a, I won't even give you my hot wallet.
I'll give you my cold.
So it'll just stick there for a bit.
Love that.
VGF.
Haven't seen you in a minute, man.
What's going on?
What's up, man?
I'm walking down, uh, Wynwood headed to a event.
I saw the title and I saw that you made the last minute trek.
I did, bro.
I did.
I, uh, I'm currently in my buddy's condo still just up here knocking this out after I knock
out this, which honestly, I probably need to wrap this up because I've got to really
got to get ready for the day.
Um, but yeah, you know, just hanging out right now, getting ready to go hit the rest of the
day here in Miami, lots of things to do.
Um, but it's, it's fun, man.
We got to try to connect while we're here.
Definitely.
Yeah.
No, that's, that is the way after the last couple of years where I had like every half
hour of my day scheduled, uh, bounce out on last minute notice with no plans and just
going with the flow has been quite refreshing.
Yeah.
How is it out there, dude?
I'm so sad that I can't go.
It's like the FOMO is severe, but that's what it is.
Well, it is definitely, uh, FOMO inducing.
There's quite a bit happening, but it's a very interesting cross section because you can
tell like all of the companies or projects that have like, you know, that budgeted for
the bear market and now everything's rallying.
Like, so it's like this really weird overlap of like balling on a budget meets balling.
But, uh, it's good energy, good vibes all around.
Um, you know what I also love, so this is like kind of a hilarious thing to say, but I just
love, um, hearing some of the tea that comes out of it.
Like, did you hear what this person did?
And I'm like, I'm just, I'm just third partying this.
Like, sure, man, feed me the tea.
I find it hilarious, but, uh, it's just, you know, next time I actually kind of want to
go to NFT Paris and it looks like there's a good chance that I might go to, uh, rare
Evo in next August.
And I live, I live like a mile from New York city, so I'll be at NFT NYC.
Um, but yeah, it's just upsetting.
Oh, well.
Pandemonium next week though.
Pandemonium next week.
I'm sure you're getting hyped for that, especially watching the pandas move leading up to it.
Only.
Yeah.
Just like you were saying, not only has everybody budgeted for bear market, we're pretty rich
again.
So like, especially all the pandas going to meet up and everybody is like up massive amounts.
You, a lot of these chads dude, like ripped 50 stacks for like $400 per panda.
So like a lot of people are sitting comfy now.
And nowadays you can take out loans instead of actually having to sell your, your NFTs.
You can just borrow against them.
And for a lot of times, 0% interest.
I'm doing that on two of my pandas right now as well.
Uh, just to, just to test it out because I didn't want to be.
It's the alpha.
It is NFT fight.
It's the main thing.
By the way, um, if you are selling an NFT, like a lot of people don't realize this.
If you are selling an NFT and that NFT has, um, has blend turned on and you don't want
to pay the royalties and gas fees are low.
If you take a loan, you don't pay royalties when you sell on blur on loaned items like loaned
NFTs.
So yeah, all right.
Well guys, I love y'all and really have enjoyed this space, but also I've realized I've got
to get moving as far as, you know, getting the day going out.
Where are you going?
What's just last thing?
What's the like highlight for the day?
Dude, I don't even know.
Like, that's why I've got to get moving because I have zero clue on what the highlight for
the day.
The next step is, I think I'm supposed to go, like, I've got a buddy that's being picked
up from the airport right now.
Uh, my buddy is picking up another one.
Yeah.
And they're stopping back by the condo.
We're supposed to go over to South beach for a bit.
Um, and then have an event later tonight.
I haven't even looked at what the event is.
I just blindly said yes.
So, um, yeah, you know, I.
Got to get it all lined out.
End it.
Appreciate it again.
All you guys coming.
Wonky stocks are inevitable.
Um, we will see you guys, uh, same time, same place next week.
Take it easy.
All you guys.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
Bye.
