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Wonky Weekly Alpha (is back)
Recorded: April 18, 2025 Duration: 0:50:09Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the current trends in the NFT market, the potential for Bitcoin's resurgence, and the importance of regulatory clarity for the future of blockchain technology. Key insights included the growth of NFT projects and the evolving landscape of Ethereum as a settlement layer.
Full Transcription
Thank you. GM, give me just a minute.
It's good to finally get back on here,
finally get going with the space again, break back into the habit of doing it is the goal this week on Good Friday.
So you guys want to come up and hang.
This will be a short space.
But again, you know, main thing for me is it's been a long time since I've done one of these in general, whether it's with the, uh, stonks or whether it
is with anything else. So it's just good to kind of break the ice, get back into the hang of things.
Um, but yeah, you know, feel free to hit that request button, come back up here.
Goal is, you know, I'm going to get to a minimum of doing these weekly again, but, you know,
A minimum of doing these weekly again, but, you know, ideally really want to start just doing some other regular content spaces throughout the week to also apologize for the confusion for anybody.
I usually have two phones with me, so I usually can run one account with Ledgeart and host the stonk space from that and then do the other with kaleo
joining in as a speaker um but because i forgot my other phone and i am visiting um family this
weekend for easter ended up having to uh just spin it up on here. Figured it out a little bit more reach
if I did it from this account
rather than from the Ledger account.
But yeah, you know, solid to be in here.
As far as the topic for today,
dude, talk about everything going on in the market.
I mean, I feel like right now
we're kind of in the stage of the market
where like ideally the stock space is on Fridays primarily.
You know, they start off talking about nfts right like that's the primary focus there's not a lot happening in the nft space though we'll we'll
talk about everything you know whether it be nfts whether it be anything else whether it be life
whatever it is um if you want to come up and join feel free to i'll send out some invites
it's not either way um i can definitely talk about whatever for forever
even though it has been a little bit but yeah i actually just got back from the aquarium a little bit ago.
I got to go with my nieces this morning.
Dude, it is one of the coolest things in the world, seeing the wonderment of a little kid.
Like, these are one, two-year-olds.
And seeing them walk around and just how entertained they can be.
Like, I swear, we walked, very first thing they walked into,
it was like a petting zoo for fish, basically.
Like, there are these tiny little fish that are swimming around,
and there are so many cool things that are past it,
but they didn't want to leave that first little window with the fish swimming around
because they were so fascinated by just it.
You know, it's one of those things, a little bit refreshing.
Like one, it's fun seeing them have fun, but two,
it's refreshing seeing literally, you know,
like you hear that expression, seeing things from the eyes of a child.
I'm like, dude, I, I kind of, you know,
I want that approach as I get back involved with this space,
because I feel like it's really easy to just let things become mundane after a while especially if prices become you know dead or flatlined as
far as the volatility for activity that you've seen across the market especially when you see
different headlines like guys like Jesse from base dude i don't know what the heck they're doing
um yeah it's interesting stuff man um so vgf welcome up dude long time no talk how's it been
yo man good to see you glad to have the spaces back um yeah what you had just said there rings true for me too of like combating the jadedness
that like if you're in the space for long enough i feel like it ebbs and flows but
uh you know trying to find the curiosity and the inspiration again
yeah dude it's it's easy you know i think that that's one thing that i think a lot of people
the fatigue right now again fatigue is easy across everything when you're involved in the
financial space and the financial side of it has been boring flatter down and you know that's
really where we are right now right like it's just been at least as far as the
past few months are concerned like it has been a it's been a tough few months right like i know
for me personally definitely has um and you know thinking about it though too it's like dude i know
it's a huge part of what made me like get back into the rhythm
of things is thinking okay like yeah things are boring and they're flat and taking time away a
little bit of time away can be healthy but at the same time you know there are a lot of people that
i think have not experienced this type of stuff before, or maybe they have a little bit,
and they don't have the same outlook as far as,
okay, it's just a matter of like, kind of wait a little bit,
and things will get fun again.
So not being a voice in that time of like,
we will get past this, right?
Like, you know, there's some people that need that out there.
And, you know, I think that's one of the things right now that like,
ideally with these spaces again, if anything else or if nothing else,
they just provide some level of consistency as far as kind of filling that mundaneness.
Even if it's just with conversation about freaking aquariums and whatever
else.
So are you doing anything this weekend for Easter?
You just take it out?
uh just taking the opportunity to kind of refresh and reset like okay when i when i
Just taking the opportunity to kind of refresh and reset.
delved into crypto and you know kind of cut back on the traditional nine to five type stuff a lot
of the days seem to blur and so when i have those you know moments on the calendar that remind me of like, okay, Hey, you know, hard stop refresh. Uh, is it, I use them as
kind of like calls to action of like, Oh, Hey, it's been this long since you've, you know, taken
time to do things for yourself or family and that kind of stuff. So, um, it definitely helps but uh similarly i've i've also been kind of rebounding on the
like hey getting more active and present on the timeline even though prices aren't there yet
it's been pretty like flat or down across the board and just about everything uh but there's
always something going on and so looking for those things rather than,
you know, oh, it's all dead and gone and never coming back. Kind of looking for those
silver linings and what exciting things are happening to kind of keep the drive going.
going so what has that been for you so far uh a lot of stuff on the art side i i i've found like
So what has that been for you so far?
a couple of artists that i i really appreciate that have just been cranking out incredible work
regardless of like what price has been doing which i i really enjoy because it's like, hey, these people are creating when like even, you know, regardless of whether or not it's selling or regardless of what else is happening on the timeline.
And I really appreciate that.
And there's been a lot of like good content that I've been consuming.
Like what Deez has been doing with like the
uh we do a little pod shiller's been putting out like just great great content and spaces they
just announced that they're uh that they acquired a couple other shops and are putting together
a studio so like good bullish things happening uh maybe not you know at the at the price or protocol level yet
but you know on on just the dope people doing dope shit side of things i like to see that
um and so yeah it's it that that's kind of been like a good little spark for me personally is seeing friends, you know, chalking up small wins.
So you mentioned one thing I'm curious about, like from the artist perspective,
as far as a bunch of the artists you said that have just been releasing stuff, regardless of
where price is, like what has been their approach with that? Right. Because a lot of these artists,
I know it is their full time, like it is their career creating this content selling it putting it out there like what have they been doing
from that type of perspective like or have they just been like you know what i just regardless
of how much i make for this i want to put it out there i don't care i just want collectors to
collect and the rest takes care of itself like what what has been their approach? Um, so I'm in a couple of chats with, you know,
some artist friends and one of like the bits that's like stood out to me, cause I've always
considered myself a creative person, but like my medium is in like operations and marketing not a visual or auditory medium so like not a
traditional artist but I've always considered myself creative and one of the things that like
the the more like you know producing art to sell type artists that I've picked up on is that there's no one size fits all answer. And like some of my friends have
not published work, you know, in, in months, they, they might like, you know, post a screenshot or
something to keep the timeline going, but some of them haven't published or minted a work in months.
Others are minting all the time. And, and like, regardless are whether or not they're selling it or just
minting it to kind of like have that provenance and that stamp of when it was made and that kind
of thing um i i think for me what like stood out there is like there's no answer that's right for everyone and it's it's what's right for them and and at the moment um
and like it's it's like sure there might be things that are like best practice or
recommendations and stuff like that from fellow artists but um to me just like that the creativity
and like the pursuit doesn't stop uh was, was motivation for me, because it's like,
hey, I'm, I may not be, you know, an artist in the same way or in the same medium, but like,
I've definitely caught myself, you know, taking a step back, not being as active, not being,
you know, posting as often, not putting up as much content and that kind of stuff.
So seeing, you know, that they're still working,
whether that be behind the scenes or publicly,
kind of lit a fire under my ass a little bit.
Yeah, I think what you said does resonate where I think it's you know like it is different depending
on the person so that makes a lot of sense where it's an individualistic approach and
I think where that resonates especially in the art space is it's like you know whether or not
there is a recommended way to do something or just about authenticity um so seeing somebody
be authentic with not just the way that they create but the way that they put it out there
as well um you know i think that's huge but i am curious though again like if this is a lot of
these artists primary like are they doing anything physical like if this is a lot of these artists primary
like are they doing anything physical on the side do a lot of the different people that you're
connected with have like a side hustle where they're doing this like what is keeping them
going right now uh yes so i have a friend of mine in in cal Cali that is primarily like a digital artist and obviously leaned very heavily into NFTs, found some some good success.
you know, in the last, you know, call it 12 or 24 months.
They've kind of had a resurgence in their, like, kind of traditional medium.
Like, their prints have gone crazy.
Like, they've had a couple of viral posts where a bunch of, like,
the sticker packs that they made, like the digital download type stuff has has found like able to find somewhere else where it was still,
you know, you were still able to capitalize and, you know, profit on your work. So that was,
you know, awesome. Cause it's like, I feel like half of the job description is kind of like
rolling with the punches. And so, you know, for those where it is, you know, their full-time job,
And so, you know, for those where it is, you know, their full time job, you know, finding ulterior means of monetizing their work of like, you know, going going physicals again, going prints and things like that.
that they've been able to find success in other avenues than just continuing to,
not that they shouldn't publish or mint their work, but putting food on the table,
putting money in the bank. I love seeing friends that are able to have those victories,
even if it's not in you know, in this,
in this church, you know, in this space per se.
Yeah, no, that's cool to hear. I guess, again, it kind of goes back to looking at a bunch of
artists. It's the creativity of not just the work, but the creativity of like,
figuring out how they can be resourceful about
continuing to support their work too um so yeah you know i had a call like earlier shoot was it
earlier this week or was it last week at the end of last week i don't know, time blends together. But recently with a couple of the Pudgy guys,
and they just hearing from, you know,
it's cool hearing from your level on like the individual artist and creator.
It was also kind of cool hearing from them too.
Just, you know, we were kind of BSing about the general state of the NFT market
with where everything was right now with sentiment with everything else
and it was kind of cool hearing their vision too because you know like they genuinely did
sound bullish as far as where things were heading this year you know they talked they talked about
how they're in DC this week and you know they which I saw them posting some stuff
about them being in DC now and actually getting the opportunity to talk to some of these lawmakers
about a freaking project with penguins you know on the blockchain cute penguins, you know, on the blockchain, cute penguins.
But the NFTs and the token, both.
But, I mean, they told me their primary focus is really, like,
the integration of all of the above.
But I just think it is incredible to look at the progression of this space.
And, you know, there are a lot of other wins too
that the NFT spaces had recently.
Like, you know, the Cyberkongs
having their case against them dropped, right?
That was huge.
Yuga, I know, had whatever big lawsuit
they were dealing with.
That's gone, right?
Like, there's some slow wins
that are stacking up
for the space. And I still like my thesis is still the same that it's been. It's just
taken a shit ton longer than I expected because of the whole tariff stuff kind of like pushing
the market to the side, right? But my thesis is still the same that whenever Bitcoin kind of
breaks above 100k and, you know, you start to see a resurgence across the market.
Like, you know, the alt space in general is going to run again.
And I really see NFTs kind of running with it.
Right. Like that's the thing that's painful about being in a high beta play is that when there's pain across the market, you're going to feel the pain that much more.
But there are wins that are slowly stacking up.
Rooster, good to have you up here, man.
It's good to get back up.
We're just talking about random stuff happening across the space right now, but also talked
about at the beginning.
It's good to just kind of have one of these for the first time in a while, get back in
the rhythm of things too.
What up, baby?
Been up.
Yeah, it's been a been a long time.
Too long.
It's felt like an eternity.
It has been.
And I'll say this too,
from my perspective,
as far as just the rhythm of the week,
it doesn't feel right being,
being a Friday and not doing one of these.
It just doesn't.
It feels kind of empty.
yeah,
I mean,
yeah,
I get it.
I've,
I've not been tapped into the market at all.
Since, you know,
this whole shit started going down.
I didn't even, I didn't stable up shit either.
I kind of just sat on my hand,
continued to sit on my hands and that proves to probably be the wrong decision before this whole debacle.
Yeah. You know, it's one of the things I talked about, too.
It's like, you know, it's easy to take a step back,
and sometimes it's healthy to take a step back
and just step away for a minute, reset.
But, like, at the same time,
big realization for me is everybody is in this boat right now
it's feeling this shit and at the end of the day like the people that are going to be the
best positioned on the other side of it are the ones that right now are showing up pushing through
on this side of it where it's like you know i i don know, man. I say how much worse can it get across the market?
And I got to beat it, but like,
I feel like from a pain perspective, the pain's there.
The real pain at this point is just like, you know,
whether or not prices go down, whether they go sideways,
the pain is just the time at this point that it's going to take.
I feel like more down at this point isn't going to affect people as much as just the the duration the
sideways length of things so i mean yeah it's shit it's too late for my port i done cooked
portfolio all-time highs for me was pretty much exactly a year ago right before uh saint pete i was at portfolio all-time
highs which is funny because bitcoin all-time highs didn't hit till you know much later in the
year and then especially the break above i was nowhere near portfolio all-time highs when bitcoin
was you know running north of 100K. Nowhere near.
It's been a painful 12 months on my perspective.
But I'm not faltering on my thesis.
Dude, I'm going to pin something up here that I saw a little bit ago as far as the schedule for where BTC is relative to other halvings.
I still think, again, when you look at it, you know, it just,
dude, there's too many things lining up from like,
I still think Trump is going to eventually cave in as far as whatever is going
on with the tariffs and the market side of things. I really do, man.
I don't think that he's dumb enough to sacrifice potentially anything for midterms coming up.
And then when you look at how the wheels have been greased as far as regulatory policy and framework for the crypto space
and just support at the top outside of that.
Like he's going to get addicted to the green candles and one way or another, he's going to spin these tariffs off.
And when he closes them, he's going to, you know, profess a massive victory, right?
He has left it so broad as far as his reasoning for doing the tariffs that he can like literally
claim any reason that he wants to and
say we want like this is a resounding victory for the u.s um i think shit pumps again like so it's
just a matter of how how much longer does this game of chicken really last with a bunch of this
stuff and you know uh yeah at this point especially for all the people who put massive bags in the eath
um yeah trump is our only hope for eath at this point there there is no
with just vitalica as the face of eath we're cooked we're absolutely cooked there's no more
water bottle pans vitalic it's fucking airplane particle meter Vitalik now. And all he does is just try and cuck everyone on the entire blockchain.
And ETH Foundation, granted, it's not even just a lot. It's not the amount of ETH that's actually
affecting the market when the ETH Foundation is dumping but it's just the the optics of it
like and they don't care what levels it's at they don't care if it's at a support level they'll
still dump another 100 000 heat um just because like yeah no trump is the only way he needs to
select ethereum as his as the crypto coin of the trump family. And please just give me the 10K exit.
I promise this time.
If you give me the 10K exit on ETH, I will be out.
I will be completely out of ETH.
I will never touch that.
Now that you say that, it's going to hit like 8,700 or something.
That's fine, because that's exactly where I was going to put my marks at. Well, and the funny part is, like, ETH would do that, and then NFTs would, like, recalibrate to be denominated in USD.
That would just be our luck.
I'm laughing because, you know, it's true.
Laughing through the pain.
Yeah, laughing through the pain yeah yeah the fucking conundrum with with nfts is it's not
the the the denomination switch and it's always just whatever's lower well right
dude the real the real issue right now with eath is like the way it's scaled and this is the debate
i've been having internally recently you know i've read it for ages and where it's really just
finally resonated with me in the past several months, diving into it. It's like all of these
L2s like base, for instance, you know why base doesn't need a token because they are making a
shit ton on fees right now. And where do you think the fees that you're paying on base go to? And I
get that they're low fees, right? It's way lower on average than what you would be paying on base go to and i get that they're low fees right it's way lower on average than what
you would be paying on the l1 way lower than what you would be paying just on ethereum um
but like you're still paying it uh after i forget what upgrade it was, I think the Duncan or Duncan, whatever upgrade, which in essence made it a lot cheaper to pay for the price to secure and validate info from the L2 to the L1.
The fees that you were paying to base used to be about 50-50, 50% to base, 50% to those validation fees, maybe 60% to the validation fees, 40% to base.
Now it's about like 80-20.
So about 80% of those fees are going to base, and the other 20 are going to the validation fees.
to the validation fees and they made i think in q1 i read this like a little over 200 million
dollars of fees so like what are they doing with that 160 mil it's not getting poured back into
it does not cost them 160 million dollars to run base right like it does not cost him that much i don't care what anybody says it
doesn't cost more than x amount of million to run bass effectively especially with the like
i don't know maybe it will after the lawsuits and stuff they might add from the campaign that
jesse's pulling right now but like it should not cost that much to run that.
So they're just purely pocketing it.
And if you're making that kind of capital, like, why do you need a token?
Right?
Like a token, at the end of the day, just the speculation of a token and the possibility of it is enough to keep people trading on your chain.
And the possibility of it is enough to keep people trading on your chain.
Well, and a lot of people overlook just because we're in crypto and it doesn't have a ticker.
But I've been just quietly, you know, DCAing coin, like just stock.
like, I think they are exceptionally well positioned as at least the, you know, primary,
you know, sex in the United States. But one thing that you had mentioned, like a few minutes ago,
that I think is largely under discussed is the regulatory certainty. Like, having worked at a very, you know, large project, you know, being
advised by many of the largest, you know, legal firms that are, you know, advising many of these,
you know, protocols and chains and things like that. The advice has always been fairly similar, at least across the last few years.
And for the very first time, we have that tone shifting.
And so I think, like, for me, the bull case on a lot of this isn't even, you know, necessarily
short-term price action, all that kind of mumbo jumbo.
But the fact that we may finally get regulatory certainty around
where in the sandbox we can play where those firm red lines are so that we can actually have
participants in the United States knowing where they can contribute, push the edges,
push the boundaries, that kind of stuff.
That's incredibly bullish, in my opinion, because for the last few years, it's like the strategy has basically been either make enough money so quickly that you can fight the inevitable lawsuits, you know, out the tail end.
Or be so hyper conservative that you hope that you don't paint a target on your own back. Um, and neither of those is, is, you know, a great position to,
to operate in, uh, as a business. Um, that's the part that I I'm really looking forward to is like,
once we actually like have some clarity of of where regulations lie or where you know where
it falls uh that we'll actually have you know some people here you know in the united states
once again pushing boundaries in crypto you know i used to make the argument against ETH and like tried to reason and
say oh you know scalability is the main thing holding its back
dad I just simply don't believe that no more it's not scalability it's usability
nobody wants to fucking use the network anymore it we were at what just about
four thousand dollar aetherium with sub 30 GUE at the time during this cycle.
It's not scalability.
The fees have not been outrageous in, what, four years now?
Well, so let me ask.
Do you think that is primarily a chain problem or a wallet problem?
I think people simply just lost respect for the network.
I mean, I would agree there.
I think simply people just don't care.
Like, why?
What is the reason to bring volume back to the chain other than the only way the the only way you're going to see a massive resurgence in eath which which can absolutely
happen like don't get me wrong can i and i really really want it to happen like you know because i
have a large amount of eggs in this basket is the money's going to have to shift right because
people follow the money so the money's going to have to come back to eve there's going to there and there has to be like i'm praying the
hail mary you know there are some very very large whales who have probably a good amount of underwater
underwater bags on the theory and that they do want to revive so ideally you know hopefully they
all do conglomerate and then push a narrative back to ETH for at least a part of the cycle.
At least a part of the cycle.
Let people get their exit pumps.
But even with different chains, different L2s launching, different this, that, all with fees that rival Solana, right?
They're like, this is going to be where the new meme coins are.
This is going to be where the new NFTs are.
Everybody still goes back.
Even when Solana was at its most toxic part in history recently over this past year,
and everybody wanted reasons to get off solana and go try something else
everybody came back well so when you say usability you don't necessarily mean like
user interface you mean more so like a reason to participate there right well and that's that's
where right now the biggest struggle for me is it's like, dude, Luca posted something about it for ETH to be great again.
Like NFTs have to be great again.
It's really the truth.
It just it's that simple, I think, because I don't know what else is going to be built anytime soon directly on ETH.
Like, what is the incentive for ADAPT to build on ETH at this point?
It's really difficult for me
to think of many. There are so many more incentives from a bunch of these different L2s that are out
there where they're like, hey, we've got X amount of capital and we're just going to pay you X amount
of millions of dollars of our token to be able to come build here. Instead, you'll still get the security of ETH,
but at the end of the day, you'll get a lot more speed.
You'll be able to run more frictionlessly, et cetera.
And at the end of the day,
the big thing why I brought up the base fees are
is because all those fees,
the hundreds of millions of dollars
that are now going to Coinbase,
and VGF, I agree with you on that.
At the end of the day, Coinbase is banking off this.
So bullish on that.
They're positioned well from both the DeFi side of things,
not just the, but like the on-chain side of things to the on-chain.
Let's not forget the ETFs either.
The ETFs too, right? Like they're
positioned well. Um, so, but like all of those fees that, you know, four years ago, those would
be on ETH and they'd be substantially higher rather than a couple hundred million dollars
of fees paid. You're talking about billions of dollars of fees paid. And it's like to the chain itself, to the validators, to like, you know,
it just pours more back into the ecosystem or it's being burned, right?
Like, you know, one way or another,
a lot of those fees are just being extracted right now from what would be
poured back into the eco by these various L2s i don't care if it's named base if
it's named abstract um if it's named you know arbitrum if it's named optimus like each and
every one of these are they you know helping with scalability yeah sure you know i guess that's the current design. And it is true. I do think modularity makes the most sense right now as far as scaling.
Though, to certain extents, I think there's still a place for monolithic chains.
Modularity makes a lot of sense.
There has to be a better way for the main chain that's doing the validation to be able to, you know,
get some type of revenue back from this, right? Like it just cannot, right now the scale as far
as who is getting the revenue is just tipped so far to the side. It just doesn't make as much
sense to me for how ETH, the way it's currently constructed, gets the traction that
I expected it to without some narrative like NFTs driving it again.
So here's the thing for me with ETH and why I really do want it to have its comeback is
like with the fees, right?
So a lot of these new L1s,1s l2s you know everything they're not
they honestly don't like like let's be real they don't give a fuck about being the like
that's not their top priority to be the best new like everybody's going to come here now all of
their business models it's like a microtransaction farm, right?
Hopefully just trying to bring in transactions to eat off these, you know, micro fees, right?
And that just puts you in a pool with everybody, right? Because when the fees are negligible, you know, no one ever, people don't think twice.
So click a couple buttons here and there a couple times, you know, maybe do a little bit of trading,
hopefully to farm some type of, you type of Ponzi that they're implementing.
But it's a massive pool of people.
It's like economy class on an airplane, like a 777.
You got 500 people sitting around you of all walks of life.
And then Ethereum is like, when it comes to fees it's first class you pay
the extra money so you don't have to mingle with these people right and it's it's just a more i
would rather be sitting between a hundred and two hundred guay and trade there paying the fees
trade there paying the fees then the cancerous shit on these other um all l1s and l2s with the
microtransactions and people buying for 17 and a half dollars and then making two percent and then
shooting it off a cliff at any red candle that's it's just it's just not fun i would rather pay the $200 fee each way transaction than have less fees.
That's just simply like my personal opinion.
I would just be rather brought it up.
Like I knew Goy was low recently.
Does anyone want to take us and no cheating?
I bet it's under one.
I bet not looking point four point four two.
Okay. You guys were way, way more accurate than I was.
I was thinking like sub five, sub 10.
It is 0.45 right now.
Oh, that was close.
I have not looked at gas in.
That's obscene.
That's not bullish though. No, no but like but at the same time
take this if any of you have been putting off like consolidating wallets moving things from
you know hot wallet to cold storage bottom layer zero do go do all of those things right now
when it costs pennies rather than you know when everything takes off again and you're
having to spend 10 tens or hundreds of dollars just to move shit yeah i remember when i bought
my first wonky song it took 236 dollars just to approve the collection on openc
bro that's that's crazy the other side man i was looking at the gas fees for it the other day
i think it averaged it was the highest peak for um guay average didn't get to like 4 000 something
i think the average it could have like i wouldn't be surprised some people i thought the average for
that day was over 2 000 though people were. People were paying thousands of dollars for a transaction.
Yeah, people were paying two ETH to get the transaction to go through.
And two ETH.
The validators were the real winners that day.
Oh, yeah.
The validators are like lawyers.
It doesn't matter as long as there's transactions.
Well, there was a lot of ETH burn there's well there was a lot of ETH burn
oh a lot of ETH burn
but here we are
right
inflationary again
I don't even want like
I'm going to go to the ultrasound money real quick
and I'm curious what the current inflation stats are
because there is one up there
that shows you exactly
yeah, ETH is like
on their last lives
I used to think
even in the previous bear cycle
and especially after last bull cycle
that Ethereum was too big to fail
i no longer think that anymore i think the only the only one that's too big to fail
is bitcoin well but like i i when i think of nfts aside from you know like true consumer level like
going and minting hundreds of thousands or you know millions of nfts on some you know like true consumer level like going and minting hundreds of thousands or you know
millions of nfts on some you know uh some pun intended abstract you know alt l1 where do i
think the settlement layer for nfts will be in my opinion it's like the current natural choice
is ethereum like it's a god forbid it's not fucking Tezos or some shit.
Like what, what else is it?
Solana has had some excitement, you know, for sure has had some things pop off, but I don't, I don't think that that's the natural conclusion, at least not in my mind.
the natural conclusion, at least not in my mind. And so whether it's, you know, on L2s or not,
in my mind, the settlement layer for NFTs is still, you know, Ethereum.
Yeah, I mean, like, in my opinion, it's Ethereum is still like first class when it comes to
pretty much any crypto network. The thing is, is like the whole economy itself is in is in shambles
so you know people don't really care to go to first class they're like okay well you know if
economy is the best that you know if economy is doable right now that's what that's what everybody's
doing that's where that's where the money is to be made is because not people aren't banking right now the only there's only a select
few people who have like made like incredible money this cycle right this hasn't been a all
you know a rising tide raises all ships cycle yet we we have not got there um you know there
there was there's a few key moments to where it played correctly um you know you can make a
ton of money like i think pow when trump launched he went before anybody made any confirmations he
just said if i die i die and started turbo bidding i think around one and a half two million dollars
worth of trump um just you know like 500 soul clips every second and ended up making like 24 and a half million
dollars on that trade over a couple days who is that banger trade pow i don't know who pow is
he rocks like a
trader pow he's like one of the the wallets that people track when it comes to shitcoin trading.
Yeah, he rocks like a ghost. What kind of ghost is that? He's got a bunch of pudgy penguins.
a bunch of pudgy penguins and shit.
That was a kingmaker trade.
Props to him.
I, however, traded Trump like a dumbass
and wanted to wait for confirmation
before just blindly aping.
I made a little bit of money on Trump,
but I was so disappointed in myself
the way I played that.
I had to step away because I almost revenge traded.
Yeah, you know, I don't know.
Again, I'm at the point where I just, I truly believe right now that we're eventually, like, gonna break out of this and like you look at you look
at what gold is doing you look at where i mean honestly btc just it is getting so tight right now
in this range it looks like everything is ready as far as you look at the timing of where we are
versus previous havings i couldn't find that tweet um to pin it up there it's gonna happen
soon enough and like somebody said this like metaphor the other day and it just like really
resonated with me they were like it's like a beach ball being held underwater and i was like that rings true for me of like short of taiwan iran escalations i i don't see
an avenue in the next call it you know three to six months where we're not back at or above where we were.
Hey, I would say that is a perfect, perfect, perfect explanation for Bitcoin.
You know, as far as alts, it feels a little bit like that sub right now that was going down to explore the Titanic.
I forget the name of it.
Yeah, the fucking billionaire.
Yeah, it's so like if Bitcoin right now is a beach ball being held underwater,
alts and NFTs are that sub.
But, you know, at the end of the day, the sub,
some of the remains of it made it to the surface.
And not only that, they were way more publicized
and got way more attention than they ever would have had that whole incident not happened.
So are some of the remains of the sub going to make it back to the surface?
And are they going to get out there and have more attention than they've ever had?
Sure. You know, some might not.
But it's just a matter of time, right?
Like just like that beach ball that is being held under the surface of the
water, that's going to pop up just like that sub,
the market's going to resurrect itself. Well, I don't know if it's,
the sub kind of did in lore at least. So yeah, we're still,
yeah, I, I definitely agree.
Everybody knows that, that Bitcoin, that Bitcoin is going to be fine.
The issue is with most people, Bitcoin is not the majority of their bag.
For the most part, most people are in leveraged plays and even leverage on leverage plays like NFTs, right?
Not only are you on an alt layer,
but you also have this JPEG that nobody gives a fuck about at the moment.
So I agree with your,
I'm sitting on that submarine and I am having uneasy feelings.
Yeah. You know, bro, like one thing that feels really good
my dad the majority almost 100 of his crypto exposure is all bitcoin that's like basically
all he holds um so it's good seeing him whatever whatever he's looking at it he's like oh yeah you
know things are actually doing pretty well right now kind of surprising like you know the market's doing pretty great i'm like yeah yeah it's really great yeah fucking awesome like what do you what do you mean you're
down bad bitcoin's at 85 000 well it just reminded me of that uh like that those news articles when
fart coin was going crazy and like you know trad suits on wall Street are freaking out over 10% and 15% dips.
And it's like I'm sitting over here with a ridiculous exposure
into fucking fart coin that's down 85%.
It's like, oh, first time?
Yeah.
So anyway, man, I'm just bullish about getting back into these.
It feels good just having these conversations again.
We'll make it back to doing it a regular thing.
Hopefully I'm going to use this as a little, now that I've finally broken the ice,
it's a little bit of a launch pad to finally get more involved
in doing my spaces throughout the week again too
so um i i do have to unfortunately get going here got some family stuff going on with easter this
weekend um but appreciate you guys hopping on rooster good to hear your voice again vgf you as
well yeah man i've been uh i've been popping up a little bit more frequently as of recently I've also thought
it's time to start slowly getting
back into it because
gotta make moves just can't stay
sideline forever so
yeah I'm down also appearing more
frequently so happy to see you
here as well man let's make it happen
wonky stonks are inevitable and we will see
y'all next week
alright later everyone happy you
