wtf was last week

Recorded: March 18, 2024 Duration: 2:57:33

Player

Snippets

where's English?
he'll be here shortly
oh baby we're back
feels good to be the man in the chair again
as they say
apologies for the
rude sounding voice
I am jet lagged
we'll dive more into that shortly
among other news stories
oh boy oh boy oh boy oh boy
where's English?
I'm gonna get that man in here
gotta get some tunes poppin
some bumps jammin
he said he would bump the jam
let's get English, hold on
you know what
I feel like that's gonna be like the funniest
recurring theme of the show is just
where's English?
hold on let me text him
shooting the message over
what's up AJ we're chilling
for a second
just give me a moment
normally we start
this puppy off with some banger tunes
which they'll come
they'll come
just as long as English is arriving
shortly alright
we'll give him a minute
we will give him a minute
in the meantime
yeah man I spent like the last
I spent the last week in
um Switzerland
and great skiing
um but they don't
believe that eastern time
is the best time zone
I don't know why
I disagree with them
eastern time is definitely
the best time zone
just saying
let's see where the hell is he
where are your moguls bro?
where are my moguls? is that the thing now?
is it just moguls? you're wearing half
you're wearing half of them up on your head
so I'm just thinking let's just make them the moguls
dude I was born with them
everyone thinks that they're uh
snowboarding goggles
let's just be clear
yeah right
alright well I guess
I guess um
no no it's alright I guess
we'll just forget the music since
English may have died
hopefully he's alright but we'll check in on him later
I'll just do an intro
what's up guys welcome this is overexposed
I am your host Eddie aka
English is somewhere to be found
but currently not here
he'll be joining us
shortly hopefully
and this is the daily alpha
overexposed every Sunday
8 30 pm eastern you know the deal
except for like last Sunday
where I was
not here so
anyway we're back and
today we've got a
lot to talk about obviously
um like obviously plenty
to talk about with uh I picked the worst week
to go on vacation I think
like literally the worst week
of the year to go on vacation
whatever you know should happens
um and then other than that
yeah we'll get into it so I mean I
guess I guess like the only
thing that I'll say on my end um
some rules for the stage we don't do hands
we just like we just go for it um
we do have two guests today
Process Grey from
Goblin Town excited to talk about
that a little bit today um not
sponsored just like Friends of the Show and like
what they're doing and outside
of that um we'll just
hop into things
what's up guys how are we
what's going on
hey hey how's it
going doing good so
so what is just real quick
before we get into like do you guys know
oh here's English
tastefully tastefully five minutes
late you know what's funny I will say
I texted English no less than
five minutes ago
god damn god damn
in English um
anyway did you
so like what exactly is Bohm do we
I was asleep
are you asking us
or are you asking the zero group?
Eddie stop it then
don't embarrass me in public then
just stop it
well I mean yeah sure why not
you guys know
I don't know I missed it
it happened so fast
goblins are generally
good in the meme coin season
but now Bohm
just happened so fast
so I missed it
once again
you getting to Bohm
no I missed this one I was on the sidelines
it happened so fast it was kind of like
you know and I'm also not I don't
I'm not spending enough time on Twitter to catch
these flies so
yeah miss it
I feel there was there's like
there's a tasteful sex joke somewhere in there
and I'm just like I'm not finding it
dude books are worth
billions of dollars
2024 that's where we're at
I'm fucking juiced
book a meme
no actually real talk though for just like just one moment
was there any
like actual reason behind Bohm
going for the numbers that it went for
does anyone know the reason
as to why was that determined at this point
or is it just kind of like once
there's a few factors so
apparently
you just buy it right
like the lightning in a bottle effect
obviously that's accounted for
many things that
happen in this space
and so like pre-sales generally
don't do well and then this one was kept
pretty well under wraps
and you hadn't really seen a
pre-sale hit well
it's kind of like Pepe in the bear market
just kind of comes out of nowhere
and people didn't really talk about it
besides that there's an artist behind it
that hasn't really seen like an artist
I think there was one back in 2023
but like some artist doing
like a meme coin so it was like refreshing
to certain people so between the distribution
between just kind of like
support from you know some people will say
that like there's like a bunch of like
Ethereum whales that you know that
enjoyed this guy's art and had been
he's you know OG in the space and they might
have missed on like with and bonk
and all this other stuff so like this was their
connections to get listed on Binance in
in 72 hours and so
like I mean what generally happens
you know before coin
gets listed right
you see like tons of volume and then
like a day or two later it gets listed and
it's like okay well that makes sense so
like obviously somebody knew that this was
had you know a good potential to get listed
so regardless of the cell pressure
there was just tons of people buying
I mean I just kept seeing like
at 500 million market cap
which it took I don't know maybe
24 hours 36 hours to get to 500
million market cap somebody was throwing
$800,000 at this like nobody throws
$800,000 at this
if you don't know that it's going to 1.6
billion link
it's just I don't know it's just a lot
of magical things in one but
one of the interesting parts is
that Solana
so Ordinals and BTC has
a strong strong Solana support
like you have like you know
EK coming from there you have
you have like the magic Eden team
all this other stuff like the first
time I went into Ordinals a year ago
like I was like well I might as well just be like
a Solana mf because I'm like the only eat guy
here and so
now with the magic Eden wallet like
a lot of people paid for their orange eyes mint
with boom and
I wouldn't say
that it's beyond a reasonable
like doubt to
say like this pump this new
like coming into Ordinals is
partly because of just like people that have made
a bag off boom and now need to
deploy their capital somewhere else
and they're like alright let's throw it here into
node monkeys let's throw it here into Quantum Cats
Quantum Cats went from 0.25 to 0.35
you have node monkeys going
from 0.5 to 0.75
you have runestone ripping you have
ordinal maxi biz catching traction
and so so yeah
good times which is part of the reason
I had sent the comment saying like this
404 talk makes me really bearish
because people are having like a lot of fun
on like Solana people are having a lot of fun
Ordinals and when I say a lot of fun
the 404s are on Solana
hold on listen listen and then so like
this so this
is what I mean by fun by fun I mean
you click a button
one time and then the number goes
up and you like have fun with your friends
on the timeline and then after a certain
while like preferably not too long
as long as the number you press another button and you
have more money in your like bank account or
your wallet that's what I mean by fun
on the Ethereum side it's like okay guys
let's try to figure out how to make more money
because everything is going down so let's make
these like new standards let's go to
DeFi let's
let's stake this no let's
double stake this no let's go
into this and it's like wow this just
sounds like a lot less fun and so
that that was my take
okay all right
man I'll tell you like
of all the spaces for me to
for me to be in the current physical state
that I'm in this is probably not the
one but we're
we're gonna rock
anyway and here here's what we're gonna do
two things one I still hate
hands so like we're gonna mostly ignore that
but we're gonna keep we're gonna we're gonna go through them
as I saw them to AJ
and Manny first Manny
I know I know AJ and Grey
we are going to get to you and we're gonna actually go through
that like that's gonna be a nice hard pivot
from where we're at for a second but I do
want to just like address the elephant in the room before
the elephant is like well how
are you guys not talk about this all right
we're gonna keep rolling Frank
Frank and Manny we're gonna talk
I really think that we see a big
pivot on people dropping these
like SPL 404s
right because like people
need a visual representation
of like a meme or a profile picture
on how to show their
bags right and then if you have
like a small burn function on those
PFPs right like it's
a thousand tokens but you burn a hundred
every time you do it or some small amount
right then that makes a
supply deflationary and then if you reroll
rarity every time you go back to a PFP
then there's like a bigger
Y right and you can get like some
degenerate gambling going on that too
and I think that's the next meta that we
see is like the SPL 404s
I'm gonna be like super
deep in the deep end stuff cause I think
no one's talking about that and
I think it's like deep end
and then this 404 thing
for like the next two months I think
is where we get to
I think they're actually called
I think they're T22s
That's like the latest
name for them
What can we come up with an actual name
for these things? We don't have a name on
ETH, they're like
these nuts 404s, not joking
and ERC 404s
and it's also by the way, not an ERC
so that's a mess
and now T22s
This is what I was talking about
It's hybrid defi, hybrid NFTs
is what you call the general space
Effectively
Yeah, that's like the term they're using now
But I will say
as bearish as you might
be English, I had a banger tweet today
it's under appreciated
self named banger
ticker Bitcoin showed us
the potential of what a 404 can be
and it was well ahead of its time
Those Sprodo Gremlins, that
is the way
that is what 404s will do
Theoretically
I know what you're saying
Theoretically, actually
Actually, actually
I don't know, I thought it was cool that it was
kind of indirectly tied and I do see
a community having a strong
it can galvanize behind it
I don't know enough about it
I'll learn in the space, you can learn me, Eddie
Well, we'll get there
Alright, let's take a breath here
Alright, so I told
AJT and I told Grey that we were
definitely going to take a chance to talk to them today
Friends of the show and actually doing some cool stuff
and I think, honestly, worth
having a chat about in the context of like
what the hell else is going on in the market right now
There's just like, there's so much going on
Let's take a break, I want to see what's going on
and then we'll get into, I guess, like
the more generalist of what's happening
because holy shit, it's been a crazy fucking week
and also, glad to see you all, you know
the deal, if you're like in the space
bottom right purple button, likes to read tweets
go a long way
AJT, oh yeah?
I was just going to say, at some point, since you want to talk about technology
is kind of like a big component, you should talk about
the ordinals up only technology
We'll talk plenty about
those buttons
AJT, what's going on there?
Yeah, no, I was just going to say
sort of the book end, what you were just talking about
It's sort of a fascinating
how sort of
the meme coin, I know people look at it as
like a toy or a joke, but
it sort of has taken NFTs
and allowed you to sort of
play at your own speed, that's what I talk about
a lot with my friends, like, you know
for an NFT, you had a price that you can enter
a community, and it gets
you can get really expensive, as we, you know
a lot of people here know
NFTs get expensive
and the only way to get in is to pay that amount
versus a meme coin where you're
sort of coming in at like, you want to put $5
in, you can put $5 in, you want to put
$5 million in, you can put $5 million in
I saw someone say
that Bohm, if it was a 10k
PFP, would have hit a floor of
Yeah, and I don't know the specifics
of that, but the point being is that
you can play at your own speed
and ultimately these things are
communities, right, I mean yes
they are jokes and they are funny and
people are, it's a little bit of PVP
everyone, but
it's just
it's sort of a natural
and also the people I think are less emotional
about it, I think people are really
emotional about NFTs, they feel a lot of identity
their whatever community
they buy into
and then they sort of get wrapped into it
which is good in a lot of ways and
stills are bad in a lot of ways
and now I think people are
emotionalists or yeah,
emotionalists, no, not completely
but at least they feel comfortable saying
okay, this is not for me, I want to move to
something else, so I just
I don't think it's going to stop and also
it's sort of a little bit the holy grail for
memes because monetizing
memes has been the holy grail
forever, I think
something we talk about a lot internally at Truth is like
if you go and google
the meme market cap
or not market cap, market size
if you look at the meme market size
we'll say like 2, 3, 4 billion
and that doesn't really make any sense, everyone
here knows memes basically are
Facebook, Twitter, Instagram, TikTok,
Reddit, 4chan
all the way up, all the way down
and so it just feels like
memes are very underfunded
underdeveloped, specifically around
software for memes and stuff
like we're building something pretty cool around that
internally but I just think
the meme space
seems like a joke to a lot
of people, and meme coins are part of the meme space
I just think this
is going to go on for a lot longer than people realize
soft sappy
seals shill, are you talking about things like
the sappy seals meme machine
for example? Yeah, that's great software
I think if you think about the software
space, for meme, what is it
you've got Giphy
which is Gifs really
got acquired by Facebook and then they got blocked
so now I think Shutterstock owns them
they're not there anymore, they're not doing anything
interesting, but
they have a massive database of gifs
you've got Tenner, who's baked into
most iPhones, you've got
Imgur, which isn't
really for memes, but obviously it's
used for memes a lot
you've got meme generator
which is the tool to make memes
you've got more media
type companies, or maybe
sort of Discovery, which is like 9Gag
but yeah, sappy seals
meme generator, that's a great
tool and I hope they
continue to expand it, but yeah, the software
around memes
is such a massive
opportunity
especially if you nail it
and especially if you help people make money on memes
because I think people make a lot of money on
meme coins, we've seen people make a lot of
money, we've seen people lose a lot of money
but helping people make memes
because what do people who do memes
have the most of, have the most
time? Time, time
exactly, time
and if you're like, terminally online
if you could turn your time and your
memes into money, that is
a hundred billion dollar business
right there
that's fascinating, especially
because there's so many accounts that are built off
of literally just how many memes can they put out
and there's like, even right now
it's just accounts launching
shitcoins based off of their entire
existence just being like a meme generator
or not even a meme generator, just like
a meme aggregator
that posts it, right?
I've seen a couple of accounts that have a hundred thousand
followers, all they've done is just
like, just post
other people's memes and now they're launching
a shitcoin. Well yeah, it's like
it's the creation of the meme but it's also the
curation of the meme, right? So like
the people who do the best on social
actually aren't usually the creators, they're the
and helping them monetize
is great and it also gets to
like a, I remember the, it was like
a few years ago, because all the
Instagram accounts, fuck Jerry, fat
Jewish, you know, back in the day
girl with no job, these are like
the OG Instagram
sort of viral video meme
sort of curators
and they got a lot of shit because
they're like, oh, I'm using other people's work
and I'm not like crediting them
and sort of like
the remix culture on memes is just like
a sort of a tricky spot
but yeah, it's just
it's one of those
spaces that I think we're going to see
a lot more of and it all ties back
I think to all the stuff, you know
like we think about it internally like
sort of memes are culture and culture
is entertainment and that is a nice
little segue into what we're doing is like we're
building this like new age type of entertainment
technology company
and so, you know
a lot of people here know Grey
Grey is like sort of the, you know
to toot his horn a little bit, he's like our
George Lucas mixed with
you know, Stan Lee and Jack Kirby
sort of mixed up and won him and Bruce
on our team are this
amazing duo of just creating
characters and story and
sort of a universe and
we're also just approaching building an
entertainment company in a really
new and interesting way
and it's sort of all this
sort of port ends with
two things, one is we have like
we've basically put together an entire
like season of very
much like Adult Swim
that's starting tomorrow
it's meant, we're trying to
we're starting on TikTok and
Instagram and YouTube but we're
essentially focusing on
a non-crypto audience first
people who like, you know
Rick and Morty, people who like
Adult Swim content, people like
South Park
and we're going to sort of feed the
algorithm first before
any web 3 people sort of
get there and then also we're
bringing back the Goblin Burger truck
for those that remember
two years ago, so yeah
it's coming back at NFT NYC
it's actually, I saw Frank here before
it should be at one of Frank's events
it's going to be
in front, I can give the whole thing
but it's going to be in front of
the punk's brunch, it'll be in front of
the magic eating yacht
it'll be in front of this event
at the fat dog
I forgot what it's called, it used to be
the fat cat
or the dog seller I think it's called now
I'll be there
if anyone in NYC knows what I'm talking about
it's going to be at
the D-God's
magic eating basketball thing
on Thursday and then probably also in front of
Pudgy Penguins on Thursday
it's going to be around an event and it's going to just stay around
we basically are
bringing it back and we're turning it into
a thing and we're going to have
goblin visors and we have
this new goblin mask
you're going to see people walking around with goblin masks
at NFT NYC
yeah, it's excited to be here
and also just say hi
yeah, you guys have been
in a sense like kind of kings
of virality
you've hit it pretty massive
at least twice to my recollection
when you guys launched
you guys spent like 3 months just
absolutely exploding
especially with UpOnly
which was kind of just like
finding something that was going to
go nuts and just keying right into it immediately
you know?
and I want a great jump in a minute
but I'll talk about it, by the way it's Only Up
but Only Up was
a little bit of
a little bit of luck, a little bit of
it was a little bit of
luck, a little bit of
I happened to just see
this game that had 500 downloads
I was scrolling through
TikTok, I have a specific friend
who just plays Steam games
I was just playing this game and I just saw
that it looked like what I imagined
a Goblin Town game would look like
and so I started to just
search who made this
I found an account that had like 32 followers
at the time
that was it
next day I was like
hey man, I'd love to do something
together, I got this thing called Goblin Town
I'd love to get
into the game somehow
didn't respond to me
took a few days, I kept hounding him
and I didn't know who it was at the time
but then I was like hey, we've got
100,000 followers on Twitter, would love to
just send them all to your game
and then he responded in like 5 minutes
and I found out it's this 18 year old kid
based in Kazakhstan
or Turkistan at the time but now he's in Kazakhstan
and he just graduated high school
this is his first game
he was so like
he was so like bright eyed, bushy tailed
at the time, it was funny
and he got like hardened over like 3 months
but he just made this game
it had like 500 downloads, it was $10
per like game so
he made like 5 grand which was a lot for him
and he was really happy with it
and yeah, I was like hey
really like the game, here's some art
would love for you to put it in, I'll give you 500 bucks
and he was like
we end up going back and forth and he ends up
really liking the art, he starts adding it all
into the game and then we just
start telling our community so the interesting thing was
this was like right after I think Dukie Dash
came out and one of the things I saw
Dukie Dash was that the game
wasn't available
for anyone who wasn't an ape
so I was playing
but when the game, when the thing was over
they should have immediately turned it on for everyone
it would have been the most popular game
and I realized that
token gaining a game
as a community
like ours or apes or anyone
is the surefire
way to make the game
die in the crib
and because
you have this
motivated group of people
they're financially motivated
obviously some of them just love what you're doing
no matter what the money situation is
most of them are financially motivated
and then you have something that's going to get them more exposure
and so what we did is
we got the guy to add the stuff into the game
and then our community just became ambassadors
for the game
and started playing it, started streaming it
there's folks
in the community that used to go into the chats
and tell people to put on the goblin mask
and then so we just started promoting it
I think the first two people that I saw
play it in the web 3 space
it was like Jonah and
Bryson, they were playing it
and then the thing just broke out
and went crazy and everyone started playing it
and for about 3 months
it was one of the most popular
indie games, one of the top streamed
indie games on Twitch
and on Steam
and I think
after, so this was the first week of June
the last week, so you had like
500 downloads the first week of June, by the end of June you had
300,000 downloads, by the end of July
it was over 500,000 downloads
and then in August
he sort of just pulled the flappy bird
and he's like, I'm going to college
in a few weeks, I don't need
the stress here and I
made like 5 million dollars and I'm just going to
peace out, he just takes the game down
and I've been trying to, I tried to buy it
for him for a few months and then he was just like
I just sort of, I don't need it, I just want this to die
That's crazy
Yeah, it was pretty insane
but he also didn't
just like
he, I've given this, I've told this
story before, but basically he
didn't, he was young
and like, just to give you an example of how
young he was, I was trying to
send him the 500 dollars through PayPal
and I sent it as like, not
as a gift to a friend, but as like a merchant
paying, so it takes like 3 to 5 days to clear
and he was like, hey, I need
the money a little faster
he's like, can you just put it on my credit card
I was like, what do you mean? And so he just
messages me his credit card number
his pin number
his full name, address
and like, his expiration
his CVV, I was like,
dude, you're lucky I'm a nice guy
like, do not send this to anyone, what are you doing?
And so, just to give you
some context
of like, what we're sort of dealing with
but anyway, a lot
of that made us realize that
there was this really big opportunity in terms
of the IP that we've built
and that there's a really big opportunity
so, we're actually
building a bunch of games right
now, we have like 3 video games in development
some really cool ones that we have
some in house, some with partners
we have a Roblox game coming
in like April, that's really fun
and all around the sort of Goblin Town IP
so, it was
it was sort of like a little wake up call
which by the way, just on the Roblox thing, real quick
correct me if I'm wrong, didn't
the guy who made
the Fortnite version
of Only Up
make a lot more money?
Oh, I think it overtook the
regular game, because A
the guy took the game down
I don't know how much, because I know Fortnite usually
just shares in
I don't know how they calculate
how much they send people, but
I imagine as time went on, he maybe
made more, it definitely got more
popular after he took the game down
but I'm sure he did well
but yeah, that wasn't Roblox, I was
I think, just using the Fortnite
what is it, Unreal Engine?
Right, right, I guess
it's more so just in the same ilk
as like a UGC
platform, or what's the word
UGC centric software
effectively, like a UGC centric game
performing as well as
a brand new, if not better than
like a brand new game
we're not bringing Only Up
or one of the games we're working on is called
Only Down, it's like a sort of a sequel
that's funny, that's funny
yeah, it's
it's gonna be a little bit until that
when we have a few other games before it
but the Roblox, actually
Grey's kids
were on Roblox and
it was one of the big things, Grey, I don't know Grey
if you want to talk a little bit about Roblox
you've been more on the development of that than I have
but that, I feel like
there's like a big gold rush right now
with Roblox, specifically with
I think in the last year or two
they've changed, they've sort of flipped it
where they give more money to the developers
building in Roblox than they take as a company
but Grey, I don't
know if you want to talk a little bit about the Roblox game
yeah, I mean, I'm still in awe of the
pivot we did from talking about
meme coins to
wherever we just landed now, I was like
how is Taub gonna get us from A to
yeah, I feel really out of depth in my
space because it's funny, the last
year, I've actually barely been focused
on bridging the gap between
where our community helped us
kind of find a market fit
for the brand of Goblin Town
and how we can expand that to
a larger audience, obviously being that
we're in this kind of weird, intermediary
world where we're trying to connect the dots between
where we're all living and breathing
in right now and the rest of
the normal world, so
it's kind of funny that
this conversation started off like
so D-Gen and the weeds
on the stuff that literally has fired up over the last
48 hours in meme coins
and that's
awesome for me to live in this space, but my
entire life has literally revolved around
how do I remove as much friction as humanly
possible between the people that haven't experienced
Goblin Town yet and the people I'd like to
so, pretty cool
almost feel a little anxious about
do people here actually even want to hear
about any of this or should we just keep talking about
me? So, actually, you know, I will say
the answer is like both yes
so, obviously, like everyone wants to know
what's going on with Bone and like where's the next
shit going, right? Yes, but
at the same time, like, you'd be surprised
so I was talking with someone today, had a hilarious
moment today, where
how do I say this?
They saw me
three months ago at a gym
I go to the gym
big muscles, small height
and I was wearing
I was wearing a Solana shirt
and the guy saw me three
months ago and now he saw me today, he's like, oh, this guy
must be rich, rich out of his mind
talks to me, he comes up to me, he's talking
with me, and he's like, yeah, so
what's the deal?
Also, I don't know who the hell
Scampu is, I'm actually
going to bring them on as like a
you know, experiment, so
he's like, should I just sell all my
Solana, and we're just talking
and I'm like, I'll be honest with you, one of the
things that makes me so bullish on Solana
is that it is like
it is now the hub of
shitcoin trading and memes
like, more, that's like
Oh, he immediately pinned something up
bro, like, oh, did he?
Amazing, amazing, alright, nevermind
Bro, look how many pins
are up there, bro, like
That's crazy, that guy is
unbelievable, nevermind that
you know, I thought it would be fun
It was a no, it was a no
Anyway, all this to say, like
memetics are kind of the baseline
for these chains
and in the same sense
like, everything that you're doing
and building out on, let's say, like, Roblox
or wherever it may be, does
stem, initially
out of memes and
these jokes
No? Yeah, no, it's a good point
it's like, kind of coming full circle and I think that's
a lot of what Alex and I do agree on
with a lot of this stuff is, you know
there's a meme factor to the nature
of going down the goblin town and what goblins
represented and it's a matter of
it's tough, right, to recreate
lightning and bottle and capture it
and really be able to analyze it and be like, well
it was because of X, Y, and Z
that goblins took off and this and that
I know the team we've assembled
is great and we
had some practice, we got started with the
Illuminati a year prior and
we had a really fun
great launch with that
and we rolled all
that learning and stuff into expanding that
brand into goblin town
but at the end of the day
it's like, you can always come back
to this kind of common thread where it's like
there's humor and there's memes
so what can we do with that
and for us it's like, okay, let's
actually back it up
let's add all the depth and complexity to all of
that, right, so it's like
you're kind of like reverse engineering
where it's like you have the funny in the front
it's like, what is it?
it's like a mullet strategy
it's like
it's funny in the front business
in the back, right, so it's like
so that's kind of how
we're rolling
with this right now which is like, goblin
town on the surface is like this really
fun, identifiable brand
it's really accessible and then we're
like, hey, how can we build depth into this brand
how can we reach a larger
audience, how do we, you know,
I don't think any of us see our, you know,
I don't see myself as necessarily like
a web 3 evangelist, I see myself as like
I'm just a product evangelist
and I just kind of hope that web 3 will
back a lot of what we do in the future
and so I kind of think that the best way for me
to move that needle forward, right,
is not through me shouting web 3 in people's face
it's just to build a great product
and a great brand that people love
and as they kind of dive deeper into that
over time, you know, and as
space grows up over time, at some point
they'll just naturally meet in the middle
you know, I've actually got a question
though, right, especially, you know, with the
fact that, and this is for either of you
right now, Solana Shacoin
is absolutely running
Bitcoin Ordinal is absolutely
running, a lot of base chain, like
base, you know, chain tokens
absolutely running, or at least have
performed really well
EthNFTs, I don't,
you know, my desktop is
currently, like, can't get the Wi-Fi running
I don't know what's going on there, but
I'm pretty sure if I took a look over
a blur, I would not be happy with some
of the things I'm seeing
like, what do you think?
You know, like, what is your perspective
as someone that's building a company
and also has EthNFTs
that are likely not performing well with the market
Well, on EthNFTs
EthNFTs, M'lady
did a tremendous amount of volume yesterday
Yeah, I know, Scotty
and it was because they were literally
We'll get to that
We'll get to that story as well
M'lady 9-11, that's why
Literally
That's what it was
God, yeah, we'll get to that
I actually own a M'lady
so I'm a fan of M'lady's
but, yeah, bless you
I talked about this a lot
I talked about this a lot
Oh, hold on, AJ, is it
is it just me that he's coming up for?
Okay, no, I was going to say
AJT, man, you're in a choppy
You're coming in rough
Oh, okay, sorry
Now you're good
There we go
Oh, and as soon
It's amazing, it's like he came in
just enough so that we could tell him
And then immediately fell off the planet
It's beautiful
mediocre, man
I'll get better
In the meantime, I will
just say that the M'lady
That is absurd
Yeah, so just they
I don't want to step on Alex's toes
I was going to give him the space
Yeah, yeah, okay
There we go
I went on Wi-Fi, is it better?
Much, here we go
Okay, cool, I was just saying
Gray and I talk about this a lot
We've literally been talking about it
for the last two weeks
and more chats this week
about the future being sort of a
multi-chain and how
obviously some other chains are taken off right now
and you could probably make an
if ETH doesn't get gas under control
it's going to be a dinosaur chain
and there's going to be a lot of
you know, it's going to be like basically Fidenzas
and a bunch of OG NFTs
you know, a lot of people
killer bears are migrating to Seoul
and I've heard runners of other chains
other NFTs move into other chains
We usually don't
friends, but we try to do things
we try to do things
very truth or gobble in any way
so we try to do something
that is like make sense for the
things we're doing versus just like
okay, everyone's making an ordinal
let's make an ordinal
so we try to be thoughtful about it
but we're definitely thinking a lot about
other chains and what that looks like
and what we would
in theory do there
We don't have anything to share yet
it's very much top of mind
very much top of conversation
It's all about friction, honestly
I think it's like, at the end of the day
we're not really specifically working
on meme points, but
I think as far as NFTs, if you get to the
heart of what is the point behind your NFT
brand, is it tech related
is it gaming related, is it just IP
brand related, and for us
there's a collectible nature
to that, I associate what we're doing a lot
more closely with an IP brand
that's more plug and play
across many different
possibilities, so gaming
or collectibles or
social media, and for me
the easier those things can be
collected, the better
and whatever chain that allows
for that is the better play
for me it's a little
bit of a wait and see, where you keep moving
cycles, maybe the chain that's going to make this
completely frictionless is get to
reveal itself as being the one, or we haven't
hit that part of the cycle yet, but
there's an ease
with zero gas
on Solana that's just kind of amazing
from a collectible
standpoint, you can't really imagine
normie collectors
coming in, I can't imagine
12 year olds getting excited about digital collectibles
trying to collect
them all and having to pay $30
for gas for everything they're trying to collect
yeah, that definitely wouldn't work
and I think
on top of that it's just like
ETH right now
it's sort of
and it's sort of missing
out on everything that's going
but there's also
there's tons of things coming out every day
and there's tons of different collections
doing different things, it actually just sort of
ties back to something that I was thinking when Grey
was talking about
we want to build this entertainment
technology company, we want to
find this large audience
for Goblin Town and the stories we want
to tell, and I think a lot
of collections want to do that
they want to find the larger
audience, I think it does a
disservice if the collection just
stays super small in a super
small community and it's not really for anyone
else. I think the biggest
problem though is how do you take your
community along for the ride?
I think a lot of
some of the bigger
collections have tried to
go more mainstream and
they've been like hey thanks for helping
us get here, we'll take it from here, peace out
and I think that's something
we've been trying to think about a lot
and stuff we've been actively working on
is how do we take our community along, how do we make sure
that if we're successful they're successful
versus like hey you
got us here but NFTs
were fun, we're going to do this other thing
you got us here
and we're going to take you to the next
phase with us.
Yeah I think that's fair
that's the main thing
the whole reason you'd launch an NFT
is because you want to
if you didn't want to
engage a community to kind of like multiply
your efforts in some direction you have no reason
to launch an NFT so
makes sense.
Yeah I mean it's even
more than that it's like I think a lot of people
have been looking at the community the wrong way
instead of
I think the whole thing that we discovered
only up was just the
community turning into ambassadors
because NFTs
go up and down based purely
on speculation nothing else
like it is based on do
other people want to buy this and
if they do that's great and
if they don't that's not good and so
like it's just not
tied to any revenue it's not tied to any
metric of anything
you know I don't know I just I feel like it's
it's important to understand
the realities of that if you want
to try to take
you know take him something bigger than that
at least that's how I see it
Eddie what else is going on
you missed everything this week?
Well I will actually ask you just real quick to like put
a nice bow on that
what I guess like
if I'm new to the goblin ego
what should I be looking at
where should I have my eyes looking for the next two
three months and how do I get involved?
take that a little bit
yeah I mean right now
we're building out like just a
ton of products right now we just
kind of finished our
kind of burn for equity
kind of initiative that just closed out over the last
you know week or so
there's like some more phases of that that we're rolling out
wait it didn't close yet
it didn't close yet
you can't stay closed
you can't burn
but yeah so we have
over the course of the next like Alex kind of mentioned a little
bit earlier
we're really branching out to
where can we
get the most eyeballs on the brand most meaningfully
where do we think the next
best place that we can fit in is
we're really looking to build
an amazing distribution channel
on TikTok, YouTube
shorts and
kind of everywhere that you scroll through a feed
and we're kicking that off with a variety
show over the course of the next
actually launches tomorrow but we kind of
want to let the algorithm cook on that as we kind of find
a more organic audience so
you know, Goblin Town community members
we're kind of just looking for
you know sharing that with
you know folks like you know again as
we try to expand the brand out looking to
kind of get that shared with folks
outside of our community
you know folks you might think are into
kind of that variety show
you know Love Death Robots
you know Robot Chicken
you know kind of like
crazy vibe
that we're bringing because you know we're trying to build out
Goblin Town as you know
a real IP place that you know
characters live and breathe and we can build
worlds on top of so
that's kind of happening over the course that's starting tomorrow
we're going to be kind of kicking out the first season of that
we have season 2 already in the works
and you know we have ambitious goals of somewhere
around 100 episodes for this first year so
we're going to be working with new
we're working with tons of small animation
studios, in house
and partnership studios
and these are like bite sized chunks
the goal is to build a massive
you know do some massive world
building but in 30 second chunks
right in your social media feed so
unlike just kind of like a meme play
or you know a gif play
we're kind of hoping to have some social
commentary but also kind of just do some
genuine character world building
but just like you know really tiny bite sized
chunks so really really stoked on that
Alex also mentioned that we're kind of
tossing out a roblox game in the next
you know couple months and again I think
that's for me it's like
roblox has basically been building a metaverse
for like a decade now
and I've watched my kids
literally grow up on it
it's been a safe place for a large audience of people
to kind of gain and be social
and again it's just a matter of putting our product
in a place where people are already
you know enjoying and experiencing
products and they're open to kind of experiencing
new worlds and it's
frictionless right? It's very easy for
you know kids in roblox
or people in roblox to
you know hit up their friends and you know
be like hey let's just play a couple sessions of
this game or this experience tonight without
having to worry about there being a massive
paywall or you know like a
triple A $50 game fee in the way
so for me that's like another
way just to get closer to a
billion eyeballs in the brand
by just creating really genuinely fun
experiences
and that's kind of just to get started out
like Alex said we kind of got a few more games
on its heels where you're developing
you know kind of some very traditional
IP plays like graphic novels
and then of course as always we have some kind of
storytelling things in the works for
Web3 that we're
kind of putting the work in on right now
as well so yeah I think
if you're in the Goblin Town community or looking to get
into it I would say like hey goblins
are you know just kind
of like you gotta buy a goblin
for the culture right? Like you gotta
have a goblin in your arsenal because
you know I think there's
I think goblins are a pretty good
PFP to speak to the
the degen nature of living
and breathing inside of this space
but also I think
you know aside from being like you know
a historic project in nature it's just
it's just gonna be we're working really hard to make
that brand
you know a really globally accessible
brand and so I think
just to be along for that ride
I think you know kind of
we kind of work and build alongside
the community with a lot of our ideas so a lot of our
storytelling and lore and
world building has kind of come in tandem from
like kind of like working with the community or
taking their ideas and kind of expanding on them
it's just like
of all the spaces communities
that kind of linger around here it's like
goblins are strong you know and
they've stuck around through the bear market
you know supported
each other and helped build
the brand and you know
and you know it's been
kind of awesome so yeah
Oh yeah Grey
and Eddie I'd add
two more things
the first is I mentioned before
McGovern Burger Trust coming back and then to TNYC
Which I am so excited for that
whenever that happens just send it to me because
I will pin it to my spaces
I'll send you a personal invite
I'll send you a personal invite
the first big time it's like
there'll be burgers at
the punk's brunch and
outside that people want
and then they'll be at
the magic eating yaw party
but then the real first one is at
9 or 10 pm on that Wednesday night
it's going to be at
the seller I think it's called the
seller dog and there's going to be
a big party there I think
rec guys are running it and a few other people
are involved in it and all goblins
and Illuminati come for free to that one
and get like VIP passes
and then so that's coming and then
we're also working on this like
I mentioned before in terms of memes
we're working on the software product
that's going to come out in
probably April towards the end of April
I can't talk too much about it yet
but it's going
after the holy grail of helping people make money off
memes not on meme points but memes
themselves whether you're a creator
or a curator we think we found
something really interesting there
we'll talk about it a lot more as we get closer to
coming out but it's
sort of like I mentioned we believe that
memes are
culture and culture is entertainment and if
we want to be the biggest entertainment
technology company
we want to own that in a really big way
so yeah it's going to be
and then obviously like what Grace said we have a
Roblox game we've got IOS and
Android games and these are different games
we've got a Steam game coming
out so we're just like sort of
entertainment
is like gaming is the big one for us
under that so just really excited
about the next few months you'll see a lot of like
actual products coming out
real things. AJT, Grey
very exciting like that's
actually really cool top to bottom
and I'm excited for you guys
I actually
now that I have blur up
I might actually buy a couple
no no that's pretty sick seriously
dude thanks for having us and you guys are welcome to
stick around if you like because
we're going to take it like a hard
pivot now
do a quick little room reset guys
welcome if you guys are enjoying the space you know
the absolute deal
purple button bottom right
likes and retweets they go a long way and if not
totally get it but thank you if you choose to
what we're talking about today
a bunch of stuff actually you know what I'll do a quick little
self show
this is just a personal thing if you guys
1L at a New Jersey law school
and if anyone knows any decent
internship opportunities
for this summer if you guys like
know law school and you know 1L
summer you'll get it
just let me know
I'd potentially be interested
especially in the New York area
anyway that's just me
other than that
sorry I know that was like a very forced shill
is what it is
if my voice sounds out of whack today
I am jet lagged
so all that to say
I missed so much of last week
and of all the weeks to miss
last week might have been the one not to miss
but here we are
having missed it
so there are a lot of
let's just do like a quick little round of like
where we are right now
Bitcoin's at 67 and a half thousand
Ethereum's at 3600 roughly
it's like just under
Solana punched through 200
but now it's sitting at like 197
BNB by the way has been a heavy mover
and no one talks about it
$555 per BNB that's crazy
still at a dollar so there's that
on the other side of things
ETH NFT's Borde Bia club sitting at
13.66 ETH
floor embarrassing
I just like Duncan on the
Apes flipped actually today
by the node monkeys
the more premier monkey has come to
node monkeys
M'lady sitting at 3.39
after experiencing
the treasury
for the main company
M'lady company
their treasury wiped
and sold into bids
hilarious
classic M'lady drama
like unbelievably classic
and honestly just adds to the lore
pudgies are sitting at
8 so still within range of
re-flipping those re-flipped in the Apes
the Apes dunked on them hard but now they're like
they're gonna
flip each other to the downside
unbelievable
Azuki sitting under 4.388
and D gods at 1.43
what else we got? Solana NFT
yeah go for it
I pull up the Solana NFTs
the golden
cape sold at Sotheby's
for 1.8 there was one
reveal today that was sniped at 0.5
just sold 2 minutes ago at
wait it actually sold?
someone bought it for the 1.9?
yeah so that tells you a wizard which are
anticipated to trade at so
1.9 BTC sale
on the sniped golden kitty
what else we got? Madlad sitting at a floor of
1.73 sold
dang that's pretty high
considering the sold price
and Tensorians at like
ok alright so some decent price action over there
and ordinals I mean what do we got
magic eden which is also
cooking like magic eden is doing
remarkably well they're the highest volume exchange
period in large part because of the bitcoin ordinals
see node monkeys sitting at a floor of
0.77 holy crap
that's crazy
quantum cats at 0.368
bitcoin puppets at 2.35
and ordinal maxi biz with a mint this week
at 0.439 BTC
as their floor which by the way
one of the best art mints
that we've seen expensive is all hell
but you know most minters
well basically all minters except for the public mints
so yeah dude
we'll say looking not so hot
for ETH NFTs right now
as they're literally like the only asset
that's not performing well
cause you have
bitcoin ordinals absolutely running
Solana NFTs at least holding
SETI if not slightly
increasing as Solana's going up
all the base chains running
bitcoin ETH, Solana B&B
even all just going
and yeah man the ETH NFTs
struggling
little sad
little sad
and also like Solana meme coins just have gone
through the absolute roof
like that's unbelievable
unbelievable
what are you guys
like what's on your guys
is mine English have you had fun this last
week? I mean
so like yes and no so
I bought Nick and then I was
down on that so my homie
is like hey you know there's like
boom is like
at 40 million
and I was like oh I think I missed it
like 80 million
I don't know he put 5k around the same time
and he ended up with 100k
and I was pretty happy for him
I think it's good
to see it like I really was thinking
about dumping my whole ETH bag
and picking up Solana
again I didn't do that
and then I saw WIFF at 2 billion
and I didn't do that
and so like really this was like when I told you
like the whole bearish on ETH kind of thing
I'm just like pretty bullish on fun
and I'm pretty bullish on profits
and it just really does seem
like Solana meme coins like that's really
like I just want JPEGs and ordinals
and I want meme coins
on Solana and that might be very left
curve but like that's kind of where I'm
Does anyone
does anyone disagree with that?
Asking the peanut gallery
plumb market getting a baguette at half price
but I'll fuck that in a minute
Well of course
of course
I didn't buy into BOOM
I even knew about BOOM fairly early but I didn't like the name
so I didn't buy it
I went heavy into
Pussy and Bio
instead of BOOM
It turned out alright
It didn't turn out as good as BOOM but it wasn't a bad play
No I've got a tragedy
I just missed the pre-sale on BOOM
so I was sitting up
at an ungodly hour
waiting for the DEX to hit
waiting for the LP to go live
sitting there spamming as it goes
won't go through, won't go through, won't go through
it's at like 4 million
as the LP went
and I'm sitting there just spamming
live mill, won't clear
after like 20 minutes
of trying and anybody that was sitting there
watching that chart you saw it, it just wasn't moving
and finally
after like 20-30 minutes I'm just like
you know what, fuck it, it's not meant to be
I go to bed
didn't get the sale in
or the buy in
and then it proceeded
to do what it did
Wait so, alright
back it up
I know, correct me if I'm wrong
this is the same artist that did
leaves PFP
years ago, yes
so my question is like
why did people
okay, leaves PFP is fine
but for people to be like
I love this thing so much that it's worth
a billion dollars in a day and one of the most
hyper-performant memes of all time
seems a little bit
wild to me, why were you
so excited to spend a million?
they had hyper-performant memes
the fact that you isolated
leaves PFP as the standout
meme is hilarious to me
okay, I'll be honest
I don't know what I'm talking about here
so I want you to explain to me
that's fine, I'm glad you admitted that
just acknowledgement to the space
the memes
extend well beyond
the scope of
leaves PFP
and the fact that it is multi-chain
beyond, I mean he's
huge in like
the OG rare Pepe space
and like fake rares
that whole scene
well beyond like eth NFTs
and that kind of stuff so it really
was kind of like a
cross-chain
super like
I mean it's a die-hard
crowd that really tapped
into that early
so like I'm super
stoked to see a bunch of like the homies
and like the fake rare crew winning
so this, I mean
obviously there's no way that you know
a billion dollar meme coin in two days is predictable
but in a sense it's not like this was a complete
nothing that came out of nowhere
like this actually had legs prior
to launch
so it was probably like
it's the community take over narrative
but like the community took
over two years before the fucking
shit coin launched
alright fine fine
like I am not
one that I don't personally
I don't hate if a coin does well but I at least
want to know generally why
and I felt like no one had any idea
would it happen? I want to know why Eddie
yeah dude I do
alright break it down
so all you need are a bunch of people
who have a lot of money
and you have to have those people buy
in very very very
heavily in the beginning and very rapidly
and then not sell
and that's pretty much it
like I think that's
that's the meta
and people see number go up
and they throw their money in
which accelerates the process
and as long as your anchorman hold
you'll get a little bit of fluctuation
you know from our friends overseas that panic
and sell fast and then
other people are like ah and then they sell
but your anchorman hold
and then more people get confidence
and they're like hey that wasn't so bad they didn't drop so much
they throw some money back in
that's basically it
and eventually hopefully become the next Dogecoin
yeah there was a lot of liquidity
and boom that reminds me of like
in one of my group chats someone
was like hey can somebody give me like
a detailed explanation on how to launch
a successful rune
someone replied step one
tell give everybody
in ordinals a rune
two tell everybody you're gonna make money
on that rune, three
include the name rune in the name
and then that's
obviously like the
the plan of
rune stone so it
seems to be working it's I think
maybe NFT stats will know
like the number fourth NFT
which by the way there's gonna be
obscene like obscene
runes that come out
especially given the context that
a lot of these exchanges particularly Binance
have shown what seems
to be a pretty high proclivity to like
there's just a lot of needlessly long words
high you know desire
and will to
well not even just BTC but like
aggressive assets we'll call it
uh right now like listing
things that previously at least over the last
year especially while they were under scrutiny
uh like under intense
scrutiny we're not really
all that inclined to list
but now it's like bone in two days
right and they've been listening
like Coinbase has started doing things
like listing uh a lot of
Solanisha coins like that's
that's getting interesting obviously
I think the two untapped
meme markets I guess
or the two untapped we'll call them small
cap token markets probably base
because Coinbase has strong
incentive to make sure that people like the tokens that are
launched on base and then also
runes because that's gonna be
like that is an untapped market that doesn't exist
and it's on Bitcoin like obviously
that's gonna perform extremely well
I mean if you look at the
speculation around runes
uh Runestone's a good
example of like the success of
that speculation this week about
you know launching a
launching a coin when runes
actually launch and like coming up with a ticker
and it being airdrop to the community
that holds Runestone
I mean it's currently at like 0.045
BTC from a
free airdrop for people
who have been active
and ordinals the last year
so that's really good to see I think
what was the
uh cause I didn't check
what was the requirements
to get that?
You needed three
sort of image inscriptions
prior to I think a snapshot
was sometime in November or December
right when R6 came out
like maybe like a week after that
and so check your computer
like you needed three in a wallet
yeah three in a wallet that you've
at the time of the snapshot and it
needs to be like image inscriptions not like
I don't know JSON or whatever
like not the letters
I might have that
yeah you should definitely check I've been like
telling people to check check check is
you definitely if you've been like
active last year
free like 2.5 grand
there you go
that's so funny
that's actually pretty sick
wow just checked woke up found
2500 bucks sick
nice stimulus check
yeah it's actually wild
and what's
the point of this like what happens with
I'll be honest like this is the one
week where you guys are going to have to lift the weight
you picked a hell of a week to miss a year in
crypto bro I know
this is what you do
Eddie so you receive the room
the price goes up and at a certain time
you sell it and you make money and just enjoy
it no but like should I sell
it today or should I sell it in like
six weeks I mean there's speculation
that it'll be worth like okay
let's put it this way there's speculation that when
runes drop
there'll be like a token that comes out of this
and will be airdrop to holders of it and so
I mean it's
good stimmy regardless it's
just saying nobody really knows
who the real winners of runes or like
just whether it's r6 or
the five or ten variations of
the airdrops that we've all gotten
nobody really knows who's the winner
you know but I think that I would
say that leo's community
is probably the loudest just because like
people know who they are versus
r6 you're mining it but
you just don't know who the winners
are until it actually drops so
I would just say diversify your
risk and take profit when
you feel like you'll be happy with
it right yeah there's that I
mean there's it's not just speculation
that is the roadmap like Leonidas is
trying to to see like how
many like tokens you'll have like
specifically for like the total amount
and you will get a rune now whether
like that gets delivered or not maybe
there's some speculation on that like I guess
or any like team that's going to drop you
like an inscription as an iou for
an actual like you know fungible
token but I think
with like 99 certainty like
you'll get a you'll get a ticker rune
you know whatever ticker he decides
or the community decides
whether that'll be valuable whether they'll be by pressure
you know that remains to be seen
right now just to give you an idea
I think the market cap is maybe
about 300 million 400 million
maybe a little bit less maybe
a little bit higher pretty large
market cap now it's pretty
it's pretty big it just
it just depends you know like I mean like
when node monkeys were .15
you know and they minted at .03
people are like I don't know that's pretty expensive
for like a jpeg that just came out and
now it's like .75 and it was close to
one bitcoin you know a few weeks back
so I don't know you have bitcoin
layer one
and you have basically the
most popular widely distributed
mean coin or at least potentially to be
a mean coin and you have that at 300
million market cap and you have
boom that hit 1.6 billion
in about 72 hours
so I don't know you tell me is that a lot
well still yeah like it's
still yes it's a lot but
I don't well I don't know it's
just respective to the climate
that you're in right like I mean like if
it would be a lot like last year but
well the climate that we're in right now
according to coin market cap which
by the way incubating game and
definitely a farm worth farming
fear and greed index is currently at 85
greed is what it's listed at
well I just mean like there was a
point in time a few years back that like
any like any any mean coin
hit 100 million like it was just like okay
if you had a mean coin it's like the same
thing of like NFTs in like 2021
early 2022 like
any decent one hit 1 ETH right like
that was just kind of the thing you minted for
0.1 and it hit 1 ETH and if
it didn't hit 1 ETH it was a flop you're like oh fuck
I only 3x this I only 5x this
it just depends the climate that you're in
and if you believe that we're gonna get
like even crazier into silly
season I don't know that that's a lot
no I mean I so
generally I agree with you
I think like the answer is
ultimately slash
higher like I think we're going higher
but I will say and I
put out a tweet about this I think earlier
this morning I
would not be shocked if
we're about to head into like a pretty
significant pullback
where we see negative 20 to negative 30
percent across all majors there was a tweet that
went out I want to say like
four or five days ago from someone
that I respect and they were like hey just
so you know pre-having
there's been three havings right
prior to this one this is the fourth
each time
each time Bitcoin has gone down
38 percent like basically
on the dot 38 percent
you know everyone likes to say
this time it's gonna be different
I'm not sure man
not sure it's gonna be different
so the answer is it's never
different every time that someone says that this time
it's different however that is true
of every single cycle before going
into the halvening however we've never seen
an all time high going
into before the halvening so there has been
no and as English says
this time it's different
well I don't think this
time is any different I'm gonna be honest with you man
like it's basically gonna be the
exact same any time we hit
the all time high we usually double
all time high before we see a 30 percent
correction so I think
that the opposite bold case
of your situation is that we just
blow straight past the higher kick
so once again this time is different
yeah it's just like
I don't know I'm at
least personally I'm mentally
prepared for a negative 38 percent
like I'm totally mentally
prepared for it and I'll be fine
and actually even on
even on the Solana side right so
I saw that thing was easy
that put out a tweet today totally
agree with him
where he was like on ETH
the last time that ETH had
their silly season
where people started sending
sending money straight
to people's wallets and hoping
that they'd make money which by the way some
of the like there were 55
thousand dollars today sent to
someone's wallet who they were like
I will I'm not gonna give you
anything like I am just going to buy
a car with this money
and they sent
them 55 thousand dollars
and the guy said thank you
like that was it that's all
he said so when he gets
to that point where people
are so risk
philic like loving
so risk philic that
they're literally just sending money to people's
wallets. Can you pin that to me
I gotta see that
yeah yeah yeah I'll find it
I'll find it. He literally asked
DJEN to send him 50 grand and they're like
well he asked
so that people would send him money so he
could buy a Lambo
and he got
55 thousand dollars. This is
what I mean by climate like so like Ben
asked for like a cell phone last year
right because he was doing spaces and his
phone was heating up. True. No that was not Ben
that was um. Oh was it okay who was it
it was BORVIC BORVIC
yeah and people were like oh I don't know that's
crazy now like it's like oh you need a car like
alright cool dude I got you bro. That's actually hilarious
by the way. This is more like
crowd funding than it is like
rugging though. He's like and everyone's
just like I'm drunk and I just made a lot
of crypto so here you go.
I posted it to the top
you might see it now stats.
Dude another thing that I like about this
because I've never seen a bull run before I got in
right as the bear market started last time
like almost to the day
so I've never seen this before
but now I'm seeing all these
I guess who people who were villains from the
last bull run are coming back
and now I get to learn all about them like KSI
crypto and Sybil and all
these people like like
all these pieces of shit and then
you just you know you have 50 threads
to read through explaining all the crappy things
they did last time.
Oh that that is that
is the most fun part where
some of the uh we'll call them old guard
have to be like hey guys just so you know
this person is
actually a serial scammer
and a rugger and you probably
should be careful before you send
like $500,000
in their direction.
There's actually
like a lot of that there's actually
like a fairly
significant number of those individuals
that are now circulating around
always funny to see
but you know whatever I mean that's part of
that's part of the when I said the extreme
you know extreme greed the fear and
greed the index from coin market cap
that's kind of where you get like as that
as that indicator gets to where it's at
where they're calling it now extreme greed
that's when you get people doing things
like just sending unbelievable amounts of money
to people's wallets and it's reinforced
by things like Snap
you never see you never see
a follow-up
hyper-perform dude
Snap being a follow-up to
to Bohm hitting a hundred mil
market cap is
like that's unheard of
it is effectively unheard of to see
follow-up runs
like unbelievably well
so when you see that happen
it's like unsurprising that
people are doing egregiously stupid things
for money but
the greed is showing
and I feel like at some point
that is going to have to get called out
I mean just personally I'm like short term bearish
not bearish enough that I'm selling
right like honestly
I feel like the time to sell
is not now
like be willing to accept
some pain here that's just my opinion
at the same time like the
greed is a greed it's not
financial advice
I think everyone should just be careful with what you're
saying right like you're just going to
get like as long as there's
an opportunity for someone to make
a 10x, 100x, 1000x
there's always going to be people
who are willing to bet knowing
that the money that they send is lost already
right and I mean the people
who are raising because
they want to raise and don't care about their rep whatever
like I think that everyone has a price
but everyone
wants to come out of this bull
whether or not you're a project
that's trying to raise and doing
like I don't know just sending dash auctions
or if you're an artist
launching a meme call like you just
you want the potential and
possibility to have financial freedom
and to be honest I think my
mindsets relax a little bit that
you just understand that everyone
is motivated by different things
and some people go to extremes to take
a lot of risk
and you know to each their own
like I personally feel pretty
happy for people especially people that I know
I don't know I just never
it's interesting because
I remember seeing someone you know DM me
oh my god do you know that this person
made this much off
a referral code
and in my mind I was like why do you have to
DM someone to say that when
that's just a great thing right like what do you
want me to you know you know is it
shameful like I don't think it is
and so there's just a level of like
that I think people are
not very they're not genuinely happy
for other people when they win and I think that
shows over time and I think the
people who you know supported Dark
Farms as an artist and saw that he was
doing a pre-sale and decided to ape in
that's the community of people that
you know really won and I'm
and I wish I
backed artists or backed my friends as much
because one day one of them is
going to win and if I keep doing the right thing and I keep
supporting the people around me it's going to
come trickle down right the worst are the type
of people that are just jealous
unhappy and don't support anyone
when time comes and they're just always bitter
that oh why am I not winning you know
you know you know you know who I can't stand
to listen to it's
it's I'll just be honest with you
project founders or business leaders
that are like well I can't stand
the fact that all these
shit coins are pumping and
they should be investing in long-term
businesses
yeah I think that big actually
energy big actually I agree
and I think that you know people who are always
you know virtue signaling I remember
I remember
like portal coin I was farming a bit
and then before that even tip coin and I
I said that I have never showed a coin
it but I will show free
farming that has zero risk to my followers
because I think that that's there's no
downside all it is is just if you're
gonna tweet something you add a hashtag right
but I literally you know
got in a DM people
like a fellow punk holder was
like why are you humiliating
yourself why are you downgrading
your brand you know didn't think
that you'd be this type of person and I was like dude
like it's free like there's no
risk at all like everyone's
hustling for their bags right and this doesn't cost
my followers anything
and so and they ship farm as well
and looking at how successful portal
was actually DM back the person I was like what do you think
of it now and he's like I'm still you know just
very snobbish like oh I'm still like
I still would like my brand
is my reputation is worth everything
I was like dude like come on
like get out
my brand my brand
my PFP is my brand
yeah try your PFP
is your brand change it and
like within a day
no one cares
no one there's no
it just frustrates me it frustrates me to no end
because the snobbishness is through
the roof and the overinflated valuations
of personal selves are ridiculous
but also we'll
say these hands I'm not going to respect them
you guys know the deal with myspace
you can just hop in
Zintani's just going to sit there forever then
because otherwise I'll talk for 45 minutes
fine Zint just make it quick what's
I forgot you disrespected
my hand too long now I don't remember
excellent alright what's going on Jesse
and he's dead too yeah
um okay so
you guys remember Nick right he was going to
onboard the masses like three days ago
the rich one
which by the way dude I will say
that guy he launched like
15 viral tweets in a row
oh he's like fucking you know he can't
I don't know if you've seen that you're too old for
tiktok Eddie but you know that he can't miss
conversation with Snoop and eh forget it
anyway yeah he was on fire um so
sorry English that you lost money on Nick
I don't want to like
I don't actually fudge people's bags like
when the prices are
down I fudge like your dumb
ideas so when I told you Pudgy Penguins
or these fake communities quote unquote
strong communities um
there's no community the community has
you know concepts and
you know ideals that it revolves
around um your communities are
we're just a bunch of crypto bros in the Discord
we're making money we're sending memes to each other
there's something there
but community is really stretching it
like what are your values what are your core concepts like I know
what the Taylor Swift if there's a Taylor Swift fan
club I kind of know what the community is
and so you have a
community but then like when your
PFP is 14 ETH
and there's
people are making ordinals
like you're crazy
if you have three of them and you're not selling
because of the opportunity cost of these other things
and that would never happen in another community
right if you're fricking
save the whales
or you're do community gardens
right you don't like oh I can't be part of this
community guys I got to pull out my five thousand
dollar like it doesn't work like that and so
there's a tension between community
and profit
and greed which is going to plague
crypto and NFTs
for a long time it is
very very hard
to build a
genuine organic community
kind of tied to profit it's just
it's just like any relationship
if your relationship with your best friend
was tied to money or your grandma
or whatever
money compromises
just kind of those genuine connections
you know I'll be honest with you
I don't entirely agree
with you and I can you could use
I mean I would personally use Bitcoin
as a primary example but I will
say your conviction
and commitment to this to this
position is
I mean it's not just my idea
so they've done studies where it's like
when you have to pay for
services you don't respect the services much
or the relationship
breaks down right so there's a famous study
now some people are kind of fighting it where
if you had to pay to
if you were late to pick
up your kid from preschool and then
people just started showing up late they're like
if this is just a transaction well just fucking
pay the 20 bucks like I don't care whereas
if you use a much more community
focused right it's just like it's
wrong to keep people waiting and that's
rude I'm not going to do it
if your grandma was like if you told your grandma
she wanted to have
your back and watch your
house and you were like I'll pay you 100 bucks
she'd be fucking offended it's not
how this kind of thing works in organic
communities I mean Bitcoin might be an organic community
gobblers fucking cool
you see how quickly they break down
so if they're communities then they're
they organically grow but they also organically
crash really fucking hard when
the money fades so
Bitcoin I'll give you it's a little bit
that's a little bit harder to find
and maybe that's why it's interesting but oh yeah
my take on Nick
if you complained about Nick losing money
on Nick coin
you have it's the greatest cell phone
of all time you've been talking for months all of
you DZ and all these people oh I'm really
here for the art and the vibes and then one
time there's a second coin
launch which so many people took issue
with I guess someone in the
bodoggers community
what's the story what actually
Nick coin came out right after Nick was going crazy
right all the whales started
contacting Faroque and ZZ were in the
in the fucking bodoggers
discord then someone
in the so Nick I don't know who launched it
some rando everybody was like
this is gonna go parabolic like we just were all gonna
jump on this then another person launched
the rich coin and apparently that guy was
in bodoggers and then people
were like oh now this is confusing and it's like
fuck off like it's
no one's job to make you money off
this cool fun organic thing that Nick
did that genuinely people
were loving the community
notes thing was fun they play the community
thing perfectly like a violin
then it got even more ridiculous
to the hello haters and then
it was it's just kind of
the faces that I mean
Nick just has me mobile face I've been saying this in the
discord for years I don't know what it is but
yes it is it's
the nose it's okay fine
a fair fair be careful
respectfully I love Nick
from one Jew to another just let's just be careful
now I'm joking his nose is ridiculous
I'm not Jewish
no me and him me and Nick
I'm a fake I'm a fake Jew
I'm just being a dick but
so you had this great organic meme
Nick comes out and
and on his interview with Barstool
he was like oh yeah there's been some coins he has nothing to do with them
and he hasn't said a word about anything
he says oh yeah there's been some coins named after
me Nick and Rich people start
complaining like
oh you guys fucked this up because
you launched two coins and the two coins kind of killed
each other which actually kind of an interesting
concept but like
is that that's I've seen that happen before
and it's fair put that on the
timeline like DZ and Frook were in the bordog
goes that morning being like guys
you should rally around one coin
Frook's like I got whales calling me
I'm like fuck off
it's not the worst thing but
put that on the timeline don't come in here
and being like oh kill one of these coins
for the sake of me and my friends bags
I just had enough of that
and so yeah it would have been cool
if the Nick coin took off but it's like
there are a bunch of people complaining like
next time do this right guys I hope this was a lesson
you guys are fucking
the vampires
who want to seize on every single opportunity
and it was like if you're really here for the
culture then you're here for the culture
if you're really here just for the Nick coin
then we start
to see how all these communities do break
down I think you seem to be really
really upset by this no no
I'm just I didn't buy any Nick coin or rich coin
I don't I don't buy anything that's why I can that's why
my takes are so good
because like web3 people are very entitled
right you think about like oh airdrop
like we should be getting the best terms
without putting a single
dollar in it's just like for example portal
coin again you know people were complaining
like oh why why do like the
Twitter farmers get less than
you know potential I don't know creeps
holders or you know holder allocation
when it was like being speculated and people
and the way I think about is that you had
zero dollars you know put
on the table risking capital and yet
three for for nothing you expect like
money to fall from the sky because you see
so many people doing these like ten a hundred
access right like it's yeah it's just
lost I think so
I think it's like I'll finish and then I'll let you
go because I'm about to jump off but it's also
obviously there's naturally there's jealousy there's
like envy there's weird
I think genuine concern
about these cabals like we joke about it but
I think we all know like
there's basically it's real but it's not
it's not the people that normally
there's lots I mean most of the people
that make a ton of money it's basically legalized
in fucking or
insider trading
it's just like not enforced against like you have
information other people don't have and
people do get dumped on all the time that's just a reality
and so it creates a natural
sort of negative energy
cycle and so I don't really care about the nico
like people made a ton on boom I don't care
but it was just kind of like
think it's kind of ridiculous for people to be like
angry the way
it worked out that you couldn't easily
make money off this nick coin
and so I just think there's I just
think we can't go into it here or I think it's
a really large scale
nuanced conversation but the tension between
building organic
forget communities organic audiences organic
movements combined with just
everybody's a pvp trying to make money which
we all are on some level I am I know
really complicates this whole
kind of narrative it's just you just can't
like I don't think that's deniable but
sorry I go ahead Nivi
I think so look I appreciate
your point of view but
I think there is a spectrum here
so you know the loudest
people on crypto Twitter
are the people who have something to sell
and you know they're
they're shilling one thing or another it could be a
coin it can be an NFT it can be whatever
now it's all coins which is fine
but that doesn't
mean that you know everyone
necessarily
feels that way you know I think there are
many reasons people are excited
about you know being in this space I
agree that the dominant use case for
the technology is a Sky Casino
like that I think it's like completely factual
and people are you know you're the only person
that says that word by the way like the only person
maybe that is that is like
absolutely not true people say it
all the time
and then and then and then and then
you know like every you know like
people say it all the time but anyway moving on
so what I actually think is
is really interesting though is
there's a big difference in terms
of sort of
you know permanence of projects
like you know
sorry previous person was saying that
you know people
you know are very entitled and I think that's
absolutely true I think that's 100% true
that everyone just believes they should
get you know money rained on them from the skies
from the heavens
but what's really interesting about that is
you know that's completely contrary
to how the space started right like the way the space
started was everyone had to
mine their bitcoins
and actually put in work
like there was this whole concept of proof of
work that everyone had to do
to get the coins
and when you actually have to do work for something
whatever it is
like actual work
in this case like in this case spending
money on electricity spending computational
power managing the
machine managing the software related
to mining managing the pool
you know doing all this stuff you know you're like
actually and you're thinking about it you're actively
thinking about it it ends up
creating a deeper level connection
with the underlying
technology and I think that's
part of the main reason why
Bitcoin has
the level of sort of religion
that it has and you know Ethereum
started that way too you know Ethereum started
off as proof of work
and you know outside of the ICO
and all the other stuff that happened with Ethereum
you know a huge amount of the supply
was mined by people with you know
lots of GPUs
and again people were putting in the work putting
in the effort and I think what's happened
is you know one of the things I learned in the music business
is you know when you give people
something for free they absolutely
do not value it like they don't
respect it they don't value it whatsoever
and that includes you know
clicking a few mouse clicks
to get something is not work like
that's still giving it to them for free you know
and so I think what we're going to see
is you know over time
people will start to realize that
the projects that actually stand
the test of time are
ones where people actually had to
commit some amount of effort
some amount of you know time
like attention over a period of time
to like you know connecting
with the underlying technology in some
way shape or form and that's
where the real value emerges I think in
the near term in the short term you
can absolutely have these giant spikes in value
whether it's a meme coin whether it's some like
you know bullshit proof of stake you know
OP fork you know that
is pondified or whatever it is like something
that's like basically low effort there's
like lots and lots of low effort stuff that's coming
out of the out of our industry right now and that's totally
fine that's like natural and normal especially in a bull
market I think what people
will find is that these things don't
actually transcend and I
think the things that end up being transcendent
are the things where there's enough
people it has to
be a large enough group of people that
we're all like hey wait there's a diamond
in the rough here there's something special here
I'm going to commit to putting an effort
over the period of time into the
thing and that's the thing that ends up
becoming like wow be valuable
over the long term
I will say also Naveen just
real quick
you do an excellent job
of refraining from shilling the thing that you're
working on I'll just say like I am going
to be worth looking into
to mining Tari like I actually very much
want to explore that
and I only say that because like now your face is
officially on you guys released a
pretty funny video
I'm going to look into that like that is probably
going to be the first coin that I actually spend any time
and congratulations on having that like
come close to you know
actually starting up it's exciting
also excellent
take or excellent points I hate when people
just say it's a good take so the thing about
that's interesting what you said about
people don't respect just free stuff like
if you've ever done pro bono work
like people they'll fucking show up late
they'll do whatever they want in the ways they
never would if they paid for the service
so that's an interesting sort
of thought there when you're just thinking about
like why some of these things maybe
flame out so much I mean it's so attractive
I mean I think
I don't see how anybody could not
be allured by the possibility of
you know making a 300,000
action or whatever people did on boom
and not you know wanting that at some
point but
you can also see why it would flame out if you're not built there
and the proof of work thing is really interesting I think
that's kind of obvious and it plays to what
I was saying earlier about community like when you're
when you got your
identity starts to become integrated
with the community that's a real thing right and
that does happen in some some of these NFT
projects for sure but like if you created
a gif in a discord and they
use that as one of their you know
whatever they are animations
it's just like anything you tag
something on a wall you're part of something you
I think that's why Farcaster probably has a
really strong network right people are building
on top of it so
that is interesting just that I've never
thought about the actual proof of work anybody
I can imagine anybody that has a node or
ran a node right that you're part of a community
you just kind of are right yeah and so that's a little
bit different then I mean there's a lot more of the
there's so many different
overlapping narratives with Bitcoin there's
the whole like libertarian like
anti-authoritarian yes but
but that's that I mean that
I mean that just kind of is kind of going to the
definition of community right you're building your
identity into it and if you're taking action to do
something as opposed to just something
passively being given to you
that's that's almost like the difference between
a community and not or like how you
I also think that human beings
are like extremely
perceptive you know if
you sell 10%
of your tokens to
Andreessen Horowitz
you know people inherently know
that's like going to be an issue like
over the long haul right like people
know that that's you know not
necessarily good for the quote unquote
community you know that like people
are like really really smart you know people
know okay wait is this a low
effort project you know is it just
like an OP fork you know yet another
one or is there something
you know more substantial there and
the way they know that
is if they actually have to put in the
effort to learn about it when
when the timeline is just memes
and it's just like what I love about
meme coins is
and so many people said this in the timeline
outside of them you know
outside of any one of them being a rug
it's not a rug it's just a coin that
exists on Solana
or wherever the hell it lives
then it's really
very honest in the falling way it's
just like look this is a flimsy
thing this is a very very
simple thing that
exists and it exists
probably for only a moment in time it's
probably highly temporal in nature
I'm not saying they all are
some of them may be such a strong
meme that it like has
an hour like that's entirely possible
but that 99.9999
percent of them are
going to be extremely flash in the pan
they probably will last for minutes
if maybe hours at most
and then they die and that's totally
cool then you have
and the thing about those projects is
there is no really investing
into learning about the thing because
there's nothing to learn there's nothing to learn
it's just like you just know the ticker
and you just look at the chart and you decide
if it's an ape or not
it's basically sitting on a slot machine
and pressing the button that's all it is
on the other end of the spectrum
you have deep technical
projects that are
actually trying to blaze a new trail
in terms of moving this whole
space forward in some meaningful way
and that's the opposite end of the spectrum
and the challenge
with the industry is obviously
there's an attention
economy challenge where it's like
how do you capture people's attention
when everyone is
constantly having shiny object
syndrome trying to catch
the next hot thing, whatever the next
hot thing is we talk about metas, we talk about
narratives, we talk about all these things in the space
it's everyday language, it's not
it's just lingo for this fucking industry
that's all it is
and what's really interesting about it is
again, when people have
to invest the time to do
something and earn something
wait, okay, I mined it
I earned it
wow, okay, that creates a different
level of relationship and then people
start to go, oh wait, let me dig in a little
further, so this is definitely
a very hot take and I fully acknowledge that it is
but I actually think over the next
call it maybe a couple years
we'll actually move entirely away
from proof of stake because I actually think
it's impossible for people
to achieve the level of
Bitcoin level
of fervor, Bitcoin level
of religion
with something that is born
proof of stake
and I know that's a really hot take
Ethereum doesn't count, because Ethereum
was born proof of work and there's a
large, huge number of people
probably a million people
or more, I don't even know how many people
actually mined Ethereum at one point or
another and invested the time
and effort to really
make a decision
like fall in love or not fall in love
believe in the religion, not believe in the religion
whatever it is, about Ethereum
but all these are the things
where you basically
you don't have to invest
the effort really at all, you just spin up a bunch
of bots, you simple attack the thing
you do a bunch of useless
actions that are not
really investing the time and the effort
into the thing
and then you get money from the sky
the airdrop meta
which really is just like an attention gathering
that is really what it should be, but it should be
directing people towards doing deeper work
so they can actually fall in love with the thing
with the thing
that's I think a very flimsy thing
on its own, and that's really
the only thing that proof of stake protocols have
so I think we're going to see a bunch of really
interesting evolutions and changes in the industry
over the next couple of years
as people start to come to this
core, this very first
you get it, sorry, let me re-frame it
it's impossible to get a critical
mass number of people
Bitcoin level, Bitcoin maxi level
in love with anything
unless you get people
to do the fucking work
It's interesting, I think that's
sort of right, it goes back to the previous
comments that were made about
skewed incentives
when the relationships are purely
financially driven
but this is like a different level than that
it's not just
expecting to get paid
because you purchased something
or are participating in an ecosystem or whatever
but it's like putting
in actual work or something
that you feel
rewarded for
I do think it's a really interesting point
I don't know
what that, like
I wonder if there's any other comparables
outside of the Web3 space where you can
look at something like this that has achieved a critical
mass of adoption from people
having put in the effort to feel
rewarded about the thing
I don't know if there's
a perfect
analogy but just a second thought before I leave
is that, I mean, the one
natural financial incentive is kind of memes
what people, I think, first thought about Web3
which is, I mean, people were already talking
about building audiences first
long before Web3
you build your audience on Instagram and then you'll figure out
what the product is later or the service
you build the audience and then you also leverage
that audience, like people thought NFTs
invented, oh yeah, your community is going to help
your build and if you do CCO
everybody can spread your message for free
that's been done forever
that was a tired
idea in 2019
but the idea that you are
putting basically a currency
toward a virality
that has a very, I think, symbiotic
relationship, right, if you are
posting memes on the internet
you are already dealing with
the currency of the internet
so if you're posting a common meme
and it gets you a million likes on your Instagram profile
you might not be getting a dollar amount
for that, right, but you're getting some sort of
potential
reward that is basically
a kind of social currency
and so you can easily, all you have to do is now
attach a dollar amount to that, right, you can place a bet
with your friend
I bet you if you're an influencer
I'm going to send a hashtag
I'll bet you a thousand bucks, I can get
a hundred thousand people to use the hashtag
by the end of the year
that's basically a meme coin at that point, you know what I mean
so that's a very natural symbiotic
relationship, when you're trying to build
what many other people want, which is
this is the new
generation of
the, I don't know, stateless
artists that can
generate their own, I don't know,
virality without having to go through
whatever, like
that's just a lot harder to deal with
the profit motive is so
intertwined, and again, each
NFTs are different from meme coins
which are different from Bitcoin, but
I just, you know, I made the point earlier
it's just a very delicate
dance to balance that, if it's not
just a meme coin. There's a
distinction between, I think it's a fine line
between building that brand
and identity for yourself
creating a following because of
that financial influence, and I think
I wouldn't say really on a macro level
but sort of just like, looking at
our little crypto bubble,
like bubble in an ecosystem sense,
not in a financial pop sense, but
I think the fear-greed
index is very instructive. When you're
looking at that index and you see that we're
generally in an overbought,
very greedful phase, you may
see communities start to pop up and grow
but the actual
reason they're doing it is not because
of some intrinsic desire to be part of a
group or to participate
or to have hope for something
but it's really just financially
motivated or hope for
financial change in status as opposed to that
sort of collectiveness.
Yeah, maybe a
way to think about it is this, like
if you're building a
thing, you know, so I can
just talk about how I think about building
the thing I work on
in this one context or one
circumstance, I
recognize that every
person who decides to
participate in the quote-unquote community
is going to
come there for their own reason and
there's going to be some people who come
into the community strictly for
a straight-up profit motive, like
oh, I'm looking for the next 1000X
and that's literally their
one-track mind, that's all they give a fuck about.
But I also know that
if we do it right, there
will be a percentage of people who
come in that actually
care about the ideology, actually
care about the philosophy, actually care about
elements of the core
underlying technology, actually care about
what the possibilities are
that's something that is
net new and has a completely different
architecture and opportunity than
anything that exists in the space.
And the trick is
that there's got to be the right balance.
So in a meme coin project,
you're never going to have the latter
group, you're only going to have the former group
because it's a meme coin project.
There is no net new
underlying thing to even offer them.
Anyone who's even curious from an intellectual
standpoint, there's really no there
there because it's just a meme coin.
And then if you actually
have a project that has
net new stuff, it turns out
that the only real way to cultivate
that type of deep
relationship, and I'm talking like maniacal
level relationship, that can help you
transcend market cycles,
which is really what you need.
That's actually what projects need.
It doesn't need to be a huge
group of people, by the way. That's the interesting part.
It just needs to be a really
fucking committed group of people
that want to
see the thing win,
see the thing transcend
over the course of cycles because they have almost
a religious belief in it.
And that is why
Bitcoin is what it is. Frankly, that's why
Ethereum is what it is.
to me, that's really
the trick. And anyone who's building
a protocol or whatever,
that's really what they should be spending a lot of their
time thinking of, not just
how to avoid bots
with a civil attack problem and an
airdrop. They should be thinking about how to build
that super-duper-deep relationship,
and it doesn't actually come from fucking
useless hackathons.
There's a reason why I'm bullish
on the seals, and it's largely
why Wob has instilled the level of
call the weak and
literally fight for your bags,
which, by the way, forget
the seals, because I'm a seal
shell, right? OMB
has done that
clinically,
almost with surgical precision,
where you are
I literally felt
embarrassed to apply
for whitelist on this
because I had the
ability to apply. I had people that
I could have tried to apply through.
You would have been rejected. I know I would
have been rejected, but I didn't even try.
I didn't even try, because
I was like, yeah, this is...
I sold whatever
it was, the green I meant, for .29,
which was great profit,
by the way.
That is like...
That is weird.
How often
are you embarrassed to apply
for an opportunity that you
feel like you have at least a 50-50 shot
of getting, where
you can make a crap ton of money?
I think it's really interesting. When you look at
what these projects are doing
and their
choices for community cultivation,
I sort of want to ask,
what is the end goal?
Is the goal to create
a small niche community of users
or dedicated fans?
Is the goal to create a product and service that
end users, everyday people
are using all of the time?
How does that community building
strategy get you to
that end goal over time?
How does it differentiate from
a profit or
survivor...
an attempt to survive
mentality, where
we need fanatics who are going to
help us survive these bull cycles,
so that we can continue to grow,
or we need people who can survive
with us through the
bear cycles, so that
I'm still able to get a paycheck.
I think there's
a lot of projects out there, and it's sort of
tough to make generalizations about these things, because everybody
has a sort of a different end game.
do think it's helpful to at least
take a step back and think, what's the
end goal here? What are people trying to do?
What headline is going to
make you feel satisfied at the end of
the day, the year, the decade?
what I can gather, it's something
along the ideas of there are
effectively, in a
sense, an infinite number
of businesses
that can be made, in one
way or another. There's
always something that you can do.
That is, we'll call it value
creating. But what you
can't do is there's not
an infinite number of communities that
can exist at any one given point in time.
There are only so many
nodes that people can
attach themselves to before they're
spread too thin, and there's only so many people.
So there's
a critical
mass of communities that people
can exist within. So
what people really
should be fighting for, especially
in an age where AI is
going to come to replace
many, we'll call them
day-to-day tasks or
functions.
You kind of need to
build a hyper-fanatical
group of people that support
whatever it is that you choose to do.
So building out the community of people
that just love the
brand, or otherwise
the thesis that
you guys are behind,
it is the one thing to do.
And then everything else is
ancillary. Do you want to build a
business out of that? Sure, go for it.
Whatever you want to do, go for it. But you have to build
the maniacal supporters
first before you can
actually get anything else done.
You started to see, or at least
I have started to see,
a bunch of project founders or otherwise
business leaders saying, there is
increasingly, especially in tech,
no longer a quote-unquote moat. The moat
is gone. The only moat
that exists now, because
tech can be matched
very quickly, if not with
AI, and with the rate
that that is improving,
almost effectively within days
you can match technical systems.
The only real moat
is, do people love what you have
and are they willing to stick
through it, even if something else comes
to match it or suppress it? It's
brand, right? It's brand.
It's the emotional connection that you have
to a thing. Like, how do
you feel about it? Which is why memes are so
powerful, right? Memes are
evidence of culture. Culture helps
you understand humanity connections between
people. And I think that's why memes resonate
so well, is because you just have a
feeling about the thing
good or bad, and it helps you
just through these sort of mental heuristics
figure out how you
want to move forward faster, or
just enjoy it and laugh.
And OMB does that
really well, right? The best.
OMB is a cult, and
OMB is a movement,
it can't be stopped,
whatnot, and then also
you talked about the whitelist thing, and I commented
on your post, actually. I meant it during
publicment, and
I was self-shamed, and I
held for x amount
of months when it was half of the mint
price, never
listed below the mint price,
and I was rejected for this
new whitelist that a friend tried
to nominate me for on the basis
that I sold my public mint
that I didn't even get a
whitelist for. And so in my mind, I was
like, okay, you can do this because you're
minting your rules, but that's a little
bit, it came off wrong
for me. It's aggressive.
That's aggressive.
As a founder, that's aggressive,
too. I celebrate the people who
make money off my mints, and it's the
same thing. This public mint that came
out, it's one BTC, and you mentioned that people aren't making
money off it. Actually,
they lined up a lot of the rares for
this public mint, and
I feel a little bit like
if they could have let people know that
during whitelist, it would have
been nicer that, oh, the
people who have whitelist have a lower chance of getting
these ultra rares.
I think it would have sit with people
better, but I think that nobody's saying anything because
OMB is a movement, it can't be stopped
right. Okay, as
the only person right here with an
OMB PFP that I self-edited,
if you read my eyes,
it says, I see you.
And then if you look on the side of my eyes,
it says, MT.
Anyway, I don't know, a lot of people can't
read, you might be able to spell.
I feel like
there's, I feel like
maybe I don't know a lot of shit, and
friends got me into it,
but it's pretty anti-Bitcoin
to try and control
this shit, right? Like, it's kind of
the antithesis of what I feel like the art
stands for. And if you look at the
art, there's shit that is so good,
that is so relevant, right?
And that, I feel like, is the thing.
But then why behave
in the way that it was?
Like, if you exclude people,
like, if you are so fucking picky,
there's only so many people here,
alright? Like, a lot of
the people that probably would have
minted in the, like,
pre-sale, and then also
bought on public,
got excluded. Like, I don't know,
who made you?
Like, I just,
that shit doesn't vibe with me, and I feel
like I found it out after.
But, yeah.
People have lost the plot.
People have lost the plot.
And no one's going to talk about it, right?
Because it is what it is, and I think that
I look at it, I'm like, I wish I
minted, I had a chance at minting the things
that came out during public, looking
at the public grails that are coming out
when you've already spent.
They're incredible. They're incredible. They're amazing.
Those are the ones that I'm like, wow, like,
there's some certain political ones that
I'm just raving about. Oh, the drone one is
my favorite. Yeah, and to know that I didn't have
a chance during Whitelist Mid, like,
for me, it just didn't sit well with me,
but you know what? R&B's movement can't be stopped.
Well, I was just going to say, like, I did
get rejected, but to their credit, I just
watched Fight Club with them
in their server, and I got Whitelist forward, so
shout out to OMB.
Are you joking?
I'm not going to lie, I got two
Whitelist thoughts.
You watched the movie night, right?
No, I'm not even in the Discord. I don't even
know where the Discord link is.
Yeah, no, like, you had to be in there
before the Orange Eyes got
inscribed, and, like, you had to know about, like,
the movie night. Like, they didn't, like,
they didn't tell people you just had to know
and show up. I don't have the attention span
for movies.
Um, well,
I mean, like, too much
tiptoe to do. Yeah, I don't know.
I'm pretty happy to watch a movie
to get Whitelist for OMB personally,
but, um, maybe,
good movie, too. Fight Club is good.
It's a good movie. I enjoyed it. It was great.
By the way, like, the number one
fight club is, like, we're not supposed to talk about it, so
why are we talking about it? That's true. Naveen, I've got a
quick question. Tari.com slash
launchpad. Good site, right?
Okay, thank you.
Yogi, you know that I hate
your hands.
I'm going to go straight to you.
Bezio, I don't do hands. We don't do
hands here. These are just, like, conversations.
Since when do we not do hands?
We never have
done hands. I yell at you literally every time.
Well, I thought you'd yell at me
because I put my hands in my hand for the culture.
Change topics, and I
don't actually have a comment on OMBs,
so. It doesn't have to be
about OMB. You just talk.
Eddie Beatbroker has a haircut,
and you should ask him why.
We'll get to that.
Yogi, what is your point?
I don't have a point
right now, dude. There are so many things
Naveen against anti-proof
of steak, which I know he's been
this way for a while.
I want to agree with him, because I do
at some degree, but I also,
just a difficult one. The OMB stuff,
I did not know that the-
What happens, Yogi?
What happens when the
ETH ETF gets passed
and the vast majority
of ETFs use Coinbase as a
custodian partner, and Coinbase
over the course of time ends
up owning over 50% of the ETH supply.
What happens? It's a bad thing
that happens, Naveen, but we're going to figure it
out when we get there. No. Number go up.
No. Number go up is fine.
I respect number go up. I'm all about
number go up, but what I'm saying
to you is, I think that,
look, if you're here to create
an inter- if you're here to create highly
accessible, permissionless
internet protocols, like
HTTP, or others
that we use every fucking day of our lives
on the fucking internet, then
that kind of a question should
really be very concerning, but it's not concerning
to the majority of the community, because I
understand the majority of the community
is very focused on number go up.
But if you're really, really paying
attention, and you look at it and you go, wait,
wait, that would never happen with Bitcoin,
for example, because it doesn't matter
how much Bitcoin, Coinbase, custody.
Now, Bitcoiners may have other issues
with, you know, Coinbase
custodying, you know, $100 billion
worth of Bitcoin or whatever over the course of time.
But it's not going to be a security model
issue. That's not an issue at all.
So I think there's like a very
fundamental circle jerk
that exists within the proof of stake community
and there's a dishonesty,
and I think it's important to call it out.
And, you know, I
agree with all that. I honestly
have not thought that far ahead. I do
care about sovereignty. But you need to.
You need to. And here's the
most fucked up part, is everyone
is like, oh, well, the security model
of Ethereum is like ironclad.
It's like, wait a minute here.
What I just said is like a very
real potential outcome.
Okay, I don't think it's like really
that up for debate. You already have Lido
controlling over 30% of the each supply
in a very short amount of time.
Coinbase already has a double digit percentage
of the each supply in their custody. Even today.
Like, this is like all facts
today. So, like, why the fuck
would you trust anything happening
on a single L2? Like, so I think
there's like a huge cognitive dissonance
issue. But I understand the bag bias.
Like, and I respect the bag bias.
I'm just calling out that like
when people don't have to do any work
for a thing,
they don't actually end up with the level
of conviction in the thing.
And that's why,
why was proof of work invented? Like, most
people don't actually even know the history
of proof of work. People think that
people think that proof of work started
with Bitcoin. That's actually not true.
Proof of work was originally invented
to help prevent DAWS attacks
and spam attacks. That's like
why proof of work was actually
invented well before
Satoshi ended up implementing
a form of proof of work
with Bitcoin. And so,
like, these are very real human
issues that for whatever reason
large portions of the community
have decided to ignore.
But I'm telling you right now that they are
things that you cannot ignore.
Like, these are the kinds of things that absolutely
will come home to roost and will
wreak havoc, which is why my prediction
is over the next several years
you will have a general return
to proof of work over proof
of stake.
Solana's in the same position, by the way.
I'm not here to
call out, like, I'm calling out
Ethereum and that's enough, but I
think, generally speaking, anything
that is proof of stake has the same problem. Because
look, think about what it is. Anyone in the
Solana community, by the way,
and I respect the fuck out of the Solana community,
but I'm just saying, like, this is just common sense.
Well, the most obvious
thing to think about is, like, oh, well, fuck.
If ETH ETF
when sole ETF,
that's the most obvious
thing to ask.
It's literally the next thing, especially considering the fact that Solana's
in Robin Hood in the UK.
I 100% agree with you, I think. I remember
the 2017 cycle
and I guess the hypocrisy
is kind of evident, because we're not talking about it
now, but there was a real concern
that 51% of Bitcoin miners
were in certain regions of the world at the time.
There was a heavy concentration, even though
that's a lot of fixed capital
that goes into bringing it, and now, you know, generally
it's been a lot better, and
the friction for proof of stake to be centralized
is a lot lower than
mining, which is, so
I agree. I have
not, I'm a bit ignorant when it comes
to potential
solutions to
proof of stake when it comes to, like,
right, now you have, call it three custodians.
You have Lido, you have Coinbase,
and you have whoever the fuck else
that may control a large
chunk of the supply. How do you
fix that? And I'm not sure.
Well, the solutions that have been proposed
are all kinds of, like, Rube
Goldbergian solutions. It's like, oh, let's
slash, let's do it. I mean,
none of it's going to work. I'm going to tell you right now. None of it's going to work.
I think what could happen,
like, here's a prediction. This is like
another hot take. Ethereum could
return to proof of work. I mean,
Ethereum made a change from proof
of work to proof of stake. Ethereum
has a very flexible social
contract. You know,
and a lot of people insult Ethereum for this,
but I'm not going to even insult
Ethereum. I'm just going to say that Ethereum
fundamentally has a very flexible social contract
and that flexibility started
with the Dow hack.
Like, it started then. It's like,
oh, wait. The chain is immutable. Wait a minute.
No, it's not. It's not immutable. We're going
to actually, like, reverse course,
and then we're going to have the creation of Ethereum
Classic, and then, you know, we're
going to have Ethereum continue on.
So, because of that flexibility,
that flexibility could actually end up being
a benefit in this scenario, because you
actually had to have the L1, which by the way
could actually never scale. I mean, I know they keep talking about
proto-dink sharding and all this other bullshit,
but that's not really, like, you know,
happening anytime soon.
It happened. The proto-dink sharding was put in, like, three days ago.
No jokes. Yeah, but it didn't improve
the scalability of the L1. I mean, come on.
Well, it's not for the L1, it's for the L2.
No, it's not really.
But anyway, moving on.
Here's the thing. The thing is, is that...
It actually is.
It's important that you understand that.
I know you like to hand-waste it away.
A lot of people do. But it's done.
The proto-dink sharding is in place and functioning.
You're talking about dink sharding,
which is what's going to make it scalable
and less gas at L1, not at the L2.
I'm sorry that I forgot Chucky in front of Cheese.
Okay, I'm sorry I forgot that.
But anyway, moving on.
The point is, is that Ethereum does have
a flexible social contract.
And so you could have a world
where Ethereum, you know,
everyone wakes up and realizes,
oh wait, this proof-of-stake shit doesn't actually work.
And there's, like, a...
Generally, like, because of financialization,
because of financial motives,
you know, people want to...
There's going to end up being
custodian partners like Coinbase
that end up controlling vast amounts
of the supply and then end up
being able to essentially censor deaths.
That's the outcome.
The outcome of someone having
over 50% of the each supply
is they start to gain more ability
to censor in various ways,
which is obviously a net negative
for the overall network.
And you could have a world where, you know,
L1 moves back to proof-of-work,
and then the L2s, you know,
end up existing in some various ways.
So I'm not saying that, like,
there's no solution. I think that
the place where there's no solution
is if people try to just keep
putting band-aids on, you know, this, like, turd.
You know, trying to polish
the turd that is proof-of-stake
at the L1 level. I think we're going to continue
all four numbers go up. I'm all for everyone getting
fucking rich. Anyone's holding a bunch of
ETH. Good for you. If the ETF
passes, you're probably going to make
a fuck-ton of money, and that's great. And then all
the Solana people, you know, obviously
same thing. That's great. But I don't think
it's actually good for the underlying
health of the system, and I think people will find that out.
So there's a couple
of, like, external market forces that I think are
also pushing some of this stuff to be custodial.
In the US, at least,
like, investment advisors,
broker-dealers, like,
there's, like, custody requirements, so, like,
they can't hold private keys on
behalf of customers and things.
There's, like, regulatory
overlays there.
And also, like, just
having founded a bunch of businesses where
people want to get paid in crypto, it's oftentimes
sort of hard from an accounting
perspective, unless you have
in-house accountants, which you may not have
early on, or, like, have good connections to a fractional
CFO, to just get payments to people
in the way that you can then, like, reconcile your books with.
So, like, custody is just an easy
solution for a lot of that stuff as well.
And sometimes, even VCs, depending on
the tenor of the market, whether it's buyer or seller
favorable, well, in their diligence
processes, we'll say, like, hey, what are your custody
solutions? Do you need, like, any
intros to, like, any banking services for
the crypto stuff? Like, how are you managing that?
And so, like,
a lot of these projects will start thinking early on, like, how can I get
my coins in a
more safe, secure location with a custodian?
So, that's some of those pressures there as well.
Not to, like, derail
the subject. Yes. And you're
100% right. And having
vast amount of tokens custody
at a single place, if that is the outcome,
whether it's a centralized exchange,
whether it's a custody partner like a
Fireblocks or somebody else, or whether
it's, you know, an Anchorage, whoever the hell it is,
should not adversely
impact the security model of the fucking
system. Right? That's the part that's
batshit crazy.
Yeah, you know, I think what we're seeing
in the cycle, especially on the heels of FTX,
is sort of a transition to
custodial
functionalities, whether it be, like,
MPC or shards, or
just some sort of, like,
you know, more than one
person has to sign a transaction.
Even things like social recovery.
You're sort of seeing it across the board.
Not to shill
anything, but, you know, one of the
projects I advise, Cube Exchange
has an MPC structure, because we
identified that, you know, custody sucks, and
it's sort of a choke point for a lot of people
who are entering the market, who don't want to give their assets up.
So I think you're going to see more of that
stuff start to propagate over time,
where users want to
and should, and
are looking for options
to hold their own assets and their own
name. It's just a matter
of time. I agree,
but I would just say to you that, and I know
you have a legal background,
I think it opens up a
regulatory
vector, where, you know,
what happens when
some agency smartens up
and goes, oh, wait, they
control X party, whoever the fuck it
is, has over
50% of the supply of Y
in their possession, one way or
another, and, oh, wait,
now we can turn
the screws on them.
It's funny, like,
you've seen some of the SEC complaints,
some really interesting allegations
about things like, like, even just
jurisdictional issues, like why we're allowed to sue you.
There was like one case,
I forget if it was like BBC or something like that,
but maybe it was like,
I can't remember which one
it was, but the SEC that alleged
that there was a substantial
number of Ethereum nodes in the U.S.,
so jurisdiction was
appropriate in the U.S. for that purpose,
which is ridiculous. Just because there's nodes
in the U.S. doesn't mean that the
government just has broad-based jurisdiction, but
there's a distinction between what regulators
will try to say
the law is,
what the projects who are defending
the cases will try to say the law is, and what the judge
says the law is, which is what the law is.
I fully understand that, but you and I
both know the real problem is
that unless you're a Coinbase
and have billions of
dollars on your balance sheet, and
can afford to hire the very
best legal talent in the world
to defend yourself,
the regulators, generally speaking,
always have an upper hand.
You're right.
Sorry about that.
The way I look at the world is this.
I think that this sort of technology,
and rightfully so, governments
around the world, most
of them have a lot of concerns, because
money is a source of
control and power for government.
That's just a fact of the matter.
When you have new
financial systems emerging
that aren't directly controlled
by government, then
governments start to get
scared, and that's
why you have so much
both soft power being used.
Look, Monero is not actually
illegal in
pretty much anywhere.
Or even private anymore.
that's, I mean,
show me evidence of that.
I'll post it up in just a second.
Yeah, so many
people claim to have cracked
Monero privacy. It's not cracked.
They got fucked
years ago by the government.
Now, again,
whatever. Putting conspiracy theories
aside. Been here since 2011,
not a conspiracy. Go talk
to Fluffy and Monero-Moo.
I don't believe you. Anyway, moving on.
Here's the thing.
I think that what
ends up happening is
if governments sense
that there is a
place where they can exercise some
amount of control,
then they may choose to
pursue it. And I think the way people should be
thinking, like most
programmers in this industry who are actually
protocol designers
spend a lot of their time thinking about
adversarial
oriented things. What are
the different ways for people to attack
a system for many different vectors?
And I think an
area of attack to pay attention to
is regulatory
attack vectors. Regulator oriented
attack vectors. And
that's something that, again, I think
the proof of stake stuff really
just falls apart in many different ways.
I think it's going to be very, very interesting over
time. How this all
plays out. But
these are just obviously one random
internet troll's opinion.
I'm not a lawyer or anything like that.
I totally understand where you're coming
from and understand
that the regulators are just interpreting
case law, just like the lawyers
who represent the projects are interpreting case
law. And it's ultimately the judges
who ultimately decide. But by the
time you get to a judge
after discovery, after all
the motions, after all the
subpoenas and all the
crazy things that happen, in some
cases, years later, you finally get in front of
a judge. You probably
needed to spend many,
many, many millions of dollars, possibly
tens of millions of dollars, maybe even
over a hundred million dollars to even get to that point.
And the number of people that I can
actually afford to do that
is extremely small.
And that ends up being like
the way the government wins. And to me, that just really
sucks. No, you're absolutely
right. And I think
Eddie can speak to this as well. One of the things
you learn about in crim law
early on,
just the place where you learn it.
Is it a concept of general deterrence?
That regulators will go after
either big fish or small fish, or they'll be aggressive
in particular areas, or
prosecutors, what have you, for the
purpose of preventing
other people proactively from
engaging in a particular behavior
by being scary, by being sort of like
this specter that sits in the background.
And I do think
these are
my own views, right? I do think you're seeing it
with the SEC in the U.S.
And it's sort
of sad that there aren't
more productive ways of engaging
in conversations about these issues
and that when there's
an agenda by a
select few in the U.S. or
in any sovereign, really, where
it's either dollar, hegemony, or
whatever sort of institutional sway
is sort of leading that
charge, it affects
folks who want to continue to build and
grow and see ideas propagate.
Especially in the crypto space
sort of having an outsized
adverse impact.
And it's actually, it's funny when you see
when you see effectively
infighting within those institutions.
I mean, obviously, you see
what do you not find it funny?
Golden has
a particular sense of humor.
what's going on, dude?
I was just breaking up the flow.
Go ahead.
I thought I knew I'm breaking the flow.
Bless. Yeah, so like, for
example, obviously, you see
dissents from SEC Commissioner
Hester Pierce, and actually
to the extent where
if you want to know how deep in the weeds
they're getting, Hester Pierce,
again, SEC Commissioner, responded
to one of my replies
to a tweet. So like,
if you don't think that they're deep,
they're deep.
Oh yeah, Commissioner Pierce is awesome. She's
super deep. Super deep in the weeds.
She's great.
It is funny, at least to me. I find a lot of
things to say, but I bet
she has so many rugs in her wallet.
I think I just want to ask one question.
Mr. Lawyer.
Not to you, because you're a student.
Mr. Lawyer,
do you think that
is going to be an unregistered security
or do you think it's
not? I'm just curious for your thoughts.
I'll politely
pass on that one,
just for a number of reasons.
But I'll give an interesting
so we made comments before
about the ETF thing.
I'm not a
fund lawyer. I'm not an expert in this space.
But I know that's part of the reason why Bitcoin
was approved.
I think it's actually the dispositive
issue at the end of the day.
There were futures, like regulated futures.
ice and SIBO
and stuff like that. In the US,
regulated
commodity exchanges, derivatives exchanges
in the US.
the proponents of the Bitcoin ETFs
were able to point to the existence
of those futures to say, hey look, there's
some market that exists
that's regulated, so
we have a good chance of these things
not being readily susceptible to manipulation.
Or some argument like that.
If you were abetting that,
what side would you go along at this point?
Well, I don't know
about that, but with respect to
the sole ETF, right? There is
no sole derivative in the US?
I don't think so.
Maybe I'm wrong about that. To the extent there isn't
one, that makes it really hard for sole to get.
For both sole and
ETFs? There's
too many layers on them and too
much going on that you can't account for.
old 80 year old man's
head wrapped around that in Congress.
Although I guess
once ETH has a decision
is that not effectively
ETH is not passing.
Okay, once ETH
has a decision,
one second guys, is that not
effectively? There goes my voice.
My voice is still on Switzerland time.
has a decision, isn't that effectively
That was a humble brag by the way.
Switzerland is one of the most
beautiful places on earth.
Still on Switzerland time?
Yeah, humble brag.
It was gorgeous.
Well, I mean I post about it. Anyway.
Isn't that effectively like, isn't that the model
for Solana? Especially
as another proof of stake
transactional
base asset for
what is like a smart contract
layer one? It would be like
saying Visa should be like
traded. Okay,
I'm also a
Solana bull. I get it. Not even
bull, just how it works.
So, sort of one of the issues
that we run into in the US right now
with respect to
making a determination as to whether a certain
thing is or is not a security
is that there's just like
the regulators
when they're making arguments
to a court
or to defendant
projects.
lawyers who are
representing them when they're making arguments back
to the regulator, they're still sort of
talking over each other.
Not over, but across each other.
is still, to my knowledge, and this
may be outdated, things are constantly evolving.
I can't stay up and up all the time, but
my understanding is that generally
the SEC makes allegations
that the coins themselves are
securities. That they
are the embodiment of an investment
contract, and an investment contract is a security
in the US. Whereas
the lawyers,
myself included, will make
an argument that, no,
the tokens themselves are just
commodities. They're just things like
beanie babies or Pokemon
cards or orange groves. It doesn't
really matter.
What an investment contract
is, it's very narrowly
defined. It's a contract, transaction,
or scheme,
but it's very clearly not a commodity.
You can sell anything. You could
sell a pen as part of an investment
contract. It doesn't make the pen a security.
Same thing as you could
sell tokens. It doesn't
make the token a security just because there's
an investment contract around it. The investment contract
could theoretically fall away. The promises
that are made that somebody will make money
could eventually fall away if
that person's no longer providing any
efforts to the project, for example, which is sort of where you get
the progressive decentralization narrative
that came in the last bull cycle.
part of the issue that's actively
being litigated
it really hard to say whether you think
one thing is or is not a security. The SEC
is always going to say,
well, they're not going to tell you which
ones very often, but they'll
say there's a lot of tokens that are securities out
there. You're like, okay, which ones? They won't tell you,
which makes it hard. They'll just point to
old existing guidance, which makes it hard.
It's like a delicate balance
between the facts and circumstances and risk
tolerances for teams. How
much money do you have to defend these lawsuits
if one comes around?
A lot of strategizing
there. Unfortunately,
it's not really an easy answer.
Golden, are you
satisfied?
I understand.
I get it.
All the fancy lawyers used to call that
concept was
transmutation.
Basically,
a token being able to
transmutate from being a
security,
whether it's like
an unregistered security
that meets some
exemption or whatever the hell
but everyone treated it
as a security, including
the people who
were the instigators of it
and who people are potentially relying on
make money
to becoming this commodity
as you framed it
where it's like, well, no.
If you ask anyone who buys
the thing, they're clearly not relying on
the efforts of others
in this thing.
Therefore,
it may not be a security.
It may be a commodity.
It's really interesting,
though, but that core flexibility
is a pretty
important concept, but I know
the SEC, if my memory serves
me correctly, has come out
against that concept entirely,
saying, no, no, no. Once something is a security
on any dimension,
it always is a security, regardless
of the fact pattern at play.
That's the kind of stuff where
it just feels like, see,
if my understanding is correct,
in other regions of the world, like in the UK,
the regulator
that regulates commodities
and securities is the same regulators.
You don't have this turf war
between the regulators.
Here in the US,
you have this thing which I think is pretty
clearly a political turf war
in various ways between
the CFTC and the SEC.
That makes it
extremely difficult. The problem is,
what ends up happening is,
inevitably, some
people end up becoming a fucking statistic.
These things
end up playing out in
courtrooms, but most likely not
in courtrooms, because very few people
can actually afford to get into the fucking courtroom.
It's like the most expensive arena
on earth is the fucking US court system.
Most people
end up settling, and they end up settling.
Can I bet on this for
rolled it? Can I bet on lawsuits on rolled it?
I think you can bet on them on
Cauchy, maybe, or like
Polymarket. Definitely Poly.
Definitely Poly.
Definitely Poly. Yeah, definitely don't quote
the lawyer on where you can bet on the outcome
of lawsuits.
His name is Mr. Lawyer.
I think Polymarket's not available.
You can literally do that. You're all in your self-doubt
as Mr. Lawyer, so watch out.
People bet on the
OJ Simpson's trial
and made money.
Someone always knows you should always trust a lawyer, right?
First and foremost,
it just doesn't fit the must-a-quick
condom size, I mean.
Shut the fuck up, Evan. One second.
Alright, first and foremost, let's keep transmutating
in full metal alchemists.
Secondly, let's get the fucking facts
straight. Pretty sure that we do
have Solana trading through Grayscale as
a derivative trust right now.
They've been doing that for a while. It's trading over
$600, but it is what it is.
I think I've bullish the fuck with Solana.
By the way, before you continue,
you've got to love when people are speaking
and they emote to their own
speech. That's my favorite.
That's my favorite thing.
When you're just standing on all four...
Wait, no, I'm standing on nothing. I'm not a dino
anymore. But yeah,
I'm standing on the words. You've got to emote
when you're standing behind it.
Anyway, continue Lucifer.
I was just talking about man.
This is lay down the facts properly.
Let's just get to it though, but dude, you guys
should all be bullish on Solana.
And they'll definitely be a sole ETF.
Quote me on this shit in the future.
Y'all are going to be buying my
bags at Triple digits, bro.
Dude, 200, 100,
500, 500. Keep buying this Solana, baby.
Naveen is slamming his head
so that he hears the wall.
I mean, look, first of all,
I participated in the Solana
via multicoin. I have
respect for Solana.
I'm shitting on the security
model, not Solana itself, to be
very clear. And then, second thing is,
look, I'm all for
number go up technology.
Wait, what have you called the Sky Casino?
Currently the best Sky Casino.
That is true.
I felt like you were on stage
one time and you were just like, yo,
Solana is just a Sky Casino.
It is just a Sky Casino.
Sky Casino.
But how can you say that after you
made a huge bag off it?
And we have all these D-pins coming over.
We have these AI agents
about to deploy.
It's just like,
hearing you say that, also as someone who
made a huge bag off it, it's just like, bewildering
to me, but keep going.
Look, you know,
the way I view
investments is I view them on a
time horizon. So, on a time
horizon basis, yeah,
dude, again, I'm not
all for, and I applaud
everyone and anyone,
anyone who bought Sol at $8
and has made a fucking
bag, dude, high five.
Congrats.
That's huge. I'm not mad at that at all.
But I think
what will likely happen,
think about, again, core Internet
protocols. Think about something like
HTTP. HTTP will
likely still be around
in 50 years.
Likely, right? It's a core protocol
of the Internet, right? And it doesn't
change very much.
But it's something that
we all use every day. It's one of
the core, it's a core suite of protocols
behind the World Wide Web.
And then underpinning HTTP
is TCPIP, which is another suite
of protocols, you know?
And so the way I think about it is, look, if the
goal is to build true Internet protocols,
then you should be very
concerned about things like the
security model. You should be
very concerned about things like privacy
and confidentiality. You should be concerned
about these sorts of things, because
that's what is going to separate something
from that sort of thing versus the longer-term
sort of thing.
Naveen, what cellular device do you use?
Why the fuck does that matter?
Because I'm just like,
I'm kind of curious, like, is your preaching privacy
and all these things, like, if you use an iPhone
you're literally...
Can I? Okay.
Finish your things. Sorry.
This is a very common
apples and oranges, right? So, it's like,
well, Naveen, you live in a
world where, like, on the Internet
we've sacrificed all privacy, but
bro, there's no, like,
on-chain analytics tool that I can use
to see your bank balance, is there?
Tell me the tool I can use to go
see your bank balance and every bank
account transaction you've made from the beginning of
time. Is there such a tool?
No. Okay, so then...
It's not an open ledger.
Well, see, here's the thing about it.
The 5.3 billion people on the Internet
generally speaking
all have at least
peer-to-peer confidentiality
by default. Right?
There is no tool that someone can
use to see everyone's fucking
bank accounts and bank
balances. People generally can't see
people's credit card transactions. People generally
can't see people's salaries. People generally
can't see the cost of goods of every
single product sold in a store. People
generally can't see what different companies
pay different other companies
for products and services.
There is financial privacy
even in a world where we have sacrificed
other forms of privacy
through tools like iPhones
or social networks or other things.
So this is a very common... To play this advocate there,
though, you can look up someone's car,
someone's, like, their assets that they have
to their name. That is, you
can look up what someone's worth.
Very limited. You can't...
Again, bank balance.
Can you see someone's bank balance?
No, no, you're right. I do agree with you on that.
So, no. Don't
call it out and then
reverse course. Fuck you.
No. You cannot see
people's bank balances. Tell me
how much money
any private corporation has
in their bank account right now.
Tell me. I would love to know.
Oh my gosh. This is the funniest thing.
You knew what I was arguing.
That was not the dunk you thought
it was, though.
And so the thing about it is
I look at any investment I make
and I make a lot of investments and a lot of things.
The way I view every
single investment is I look at
what I pay the price that it's
currently trading at now.
And for Solana, I
would. I am not selling Solana.
Because in my opinion
in this market right now,
the number one use case for this
technology is speculation
and I think Solana is by
far the best Sky Casino out there
and so I am like all
full tilt on Solana for the short term.
If you ask me, five
years from now, seven years from now, like longer term
horizon out because most of the investments
I make are into startups with traditional
equity and the average time horizon
from first check to liquidity event in a traditional
startup investment is
eight, nine, ten years, dude.
It's like a long term thing. You don't make a startup
investment to make a fucking bag
over fucking night on a meme coin.
That's not the mindset. So when
I put on an angel investor hat and I'm making
a long term investment,
would I make a ten year
bet on Solana? Fuck no.
Definitely not. But would I make
month bet on Solana? Absolutely
fuck yes. 100%.
And that's just me.
That's just me. You may make a different, you may have a different
opinion and that's cool as fuck.
You know, so in my opinion right now
Solana Bar None is the
fucking best Sky Casino in this space
and that means that Solana should be
trading for hundreds and hundreds and hundreds
of dollars a token, maybe more.
I fully believe that. Is it better than fucking
Ethereum as a Sky Casino? Definitely yes.
No question.
And that is enough. The speculation
market in this industry is worth
hundreds and hundreds of billions of dollars.
Full stop. So that is bullish
for Solana in my opinion. That is
bullish. Now yes, you can take my
feedback about like longer term
horizon. You may disagree. You may say Naveen, fuck you
no. You know, deepen this
and whatever the fuck that. And that's cool.
Like we can agree to disagree
but I'm just giving you my random
fucking opinion. So then
let's hop there
and let's just talk about
the Sky Casino. And more
specifically
the little spinners. You know, like the roulette
tables within it.
So real quick, it's just like a reset
since it's now 11pm Eastern time.
We've probably got another like 15 minutes here
before my gas runs out.
If you guys are enjoying this
you know the deal. Bottom right purple button likes and retweets
go a long way. Thank you if you choose to do so.
You don't have to. And also while you're here
if you guys enjoy this, like we run this every Sunday
8.30pm Eastern. You drop a
follow for me. English has a bunch of shows that
he runs throughout the week. Make sure that you drop a follow
for him. And the TDA
is Sundays but also Tuesdays
through Saturdays at 8pm.
Wow, that's my time.
11am to 2pm
Eastern time. So you guys get the deal.
There has been like
absurd things. We've barely
touched on it. Like this week has been
actually absurd.
Numbers have gone bonkers.
Like I mentioned at the beginning of the show
the greed indexes at
according to CoinMarketCap
85. Which they
consider to be extreme greed.
Ridiculously high.
Like ridiculously so.
We're seeing finance
list what should be
I mean like two day old coins.
Two day old coins getting listed
on Binance is unheard
of. But here we are today.
Like that's where we're at.
EthNFTs are
Look man, they're going to have their time in the sun.
I'm very confident in it. Otherwise
I wouldn't be as exposed as I am.
But wow, like it is
it is a sea of red
and when you look at blur
that's brutal.
Inside of that, man, these are
I'll just be honest with you
like there is
a sea of beautiful stuff
on Bitcoin. A
sea of beautiful stuff happening
on Solana as well.
And I'm telling you English, like I'm
telling you I really do think
404s as a concept are going to be something
special. That's just my opinion man.
That's just my opinion. Also I
see, hold on, I see
I saw, oh he's gone.
I saw ZK in the audience.
a hundred to me when I said
that Bitcoin is looking great. That is
so funny. What a legend.
I was going to tell him I apologize
as a humble servant. That is so
funny. What a fucking legend
hey, come in, throws a hundred
and then dips.
That is wild. I mean, speaking of
Bitcoin, right, you get legends
like that coming in here. You got
awesome fucking guys. You got Leonidas
in here dropping the runestones
on people. You got like Alpha
saying out there dropping those Viking
runes. Fucking Farmer Joe
dropping the rune pups. I think
things are going to get silly when the having
comes. And like the real
Sky Casino gets started on Bitcoin.
Like that, I'm so fucking
bullish on that. It's going to get scary.
I'm actually, I'm fully convinced that we're
going to see another bone, but
rune. Like it'll be a rune.
I actually, you know, I wonder if
I wonder if the upside to
some or or BRC 20s
has been limited by the fact that
like anyone who buys a BRC
20 now can't be
or at least buys
it with the knowledge that they're potentially
going to be
what's it called? Like made a
relevant? Deprecate. Deprecate. Yeah.
Yeah. That's kind of weird. Right. Like
I mean, and it's not bad. I think there's always
going to be a demand for the BRC 20s because
there's some kind of like
there's a, I don't know, there's like a nuance
to them that is charming in its own
way. Right. But then these
runes, man, they're going to just make things so much
more efficient.
I think it's going to really take shit to the next
level on Bitcoin.
And holy fuck, they say
these ancient Bitcoin whales are coming
with oceans of Bitcoin
buy our fucking bag. So like, let's fucking
That's what they can say. Yeah. I mean, you can
just look at Ordey. Like Ordey like topped
off like at 80 bucks and has really
just kind of stayed around there
and it's always been like a leverage bet
on ordinals until like
runes mania kind of came out
and I think that tells you all you need
to be. It'll still exist and
I think they're building technology around it to make
it very different from what it was.
So we'll still
continue to see the existing ones.
Which by the way, with the runes, is that something
just because I actually, I know
that it launches as soon
as the happening happens. Right.
Like it's paired with it effectively.
Or at least it launches
in the same block as the happening.
But beyond that,
is there,
is the infrastructure that's needed
for an exchange to
come ahead, to go ahead and pick
up runes?
It'll depend on individual
builders.
That's why people, like some people
are running nodes for this because
they don't trust necessarily
the people to like index
it correctly and do whatever and
supposedly that would give you an advantage
to know what's valid and what's not valid
when you're buying these runes that
have to actually
be correct
in terms of the way that
Casey writes it in terms of
what are the stipulations that count
as a rune and all this other stuff.
a lot of people
have been on testnet and probably
people that want to use
the runes technology,
whether it's a marketplace like
Magic Eden,
Runestone, Pylianitis.
These are people that probably have put a lot of
thought, time, energy behind it.
The main ones, like R6,
that'll probably be there, but you're going to have tons
and tons of coins coming out.
Just because they say they have a runes
and everything doesn't mean that it's
going to actually be indexed into the
protocol because they have to know how to do it correctly.
Yeah, that's a really good point there,
It's good that you pointed out that a lot of people are using
the testnet to get
on with the runes, but the funny thing is
everybody that I know who's gotten on the testnet
and done it, literally all they've done is
just inscribed a name
or a ticker or whatever.
There hasn't really been, from what I know,
any infrastructure
on the testnet
or anything like that, but the only
things I have heard, like the little bits of
alpha that I've seen
is, I think R6 put
out a tweet a while back saying that
it looked like
they were insinuating they were building an
exchange, right, because I think they
had R6 paired with
Bitcoin, R6 paired with
a bunch of other things, so
that was kind of bullish to see.
But then it was also kind of funny because
the BTC machine
guy who's
airdropping all the derps, he was saying
that I think he's planning on
making some silly exchange
that's going to be just goofy
and I think
his plan is that it's going to be able to
be kind of an exchange
that allows people to
trade the indie
shitcoins
Well, that's actually part of my question
because part of the issue is
one of the reasons why ETH has been
absolutely demolished by Solana
has been the fact that, or at least
in this arena specifically
in this guy's casino arena
is the fact
that the gas fees are obtuse
on ETH compared to Solana, and if
there's anywhere that the gas fees are comparably
obtuse, it's on Bitcoin.
It's also bad
there, so I guess
I expect that people
are not going to care about the
excuse me, not going to care about
the gas fees when you're talking about a
completely nascent market built upon
Bitcoin, so yes it's going to get absolutely
run up and it doesn't matter
it's effectively a relevant point to
start, but I'm still
fascinated by
the exchanges are where
those gas fees go to zero
so, in a good way
my question is like, I guess
who? Is that like
right now just OKX and Binance are the leaders
and probably going to be the ones to pick up on that
quickest or
yeah, I mean you guys know
I would guess so just based on the adoption of BRC20s
The interesting
thing though is you talked about gas, right?
Man, Bitcoin seems really
schizophrenic when it comes to gas
like, I don't know
it's so strange because like one
like, I mean
maybe September, before
September, gas fees were really low
maybe below 20 sats
per v-byte, and then around
October I think they shot up to like
they started going up to like 200 out of
nowhere, they got up to like
800 at one point, then
they got down to like
historic lows again
and from what I understand, a lot of people
are using Bitcoin
so like, I have heard people are working
on these L2s
for Bitcoin, like I think I've heard
of Merlin, but I don't, you know, advocate
I don't really know much about it or anything
but I'm just saying that there, it sounds like
people are working on L2s for Bitcoin
I don't know if that's already kicking in
They are, they are
Yeah, so, but it's really strange
I mean if it's not obvious, that's what
the cats are for
Among other
there's other launches, there's like a bunch
But yeah, the weird thing, because with ETH, right, it was like
if the gas is skyrocketing, it's like
oh, because this project launched
you could literally go to Etherscan
and see this contract is
resulting in all the gas
being used or whatever it is
how you say it, but
yeah, with Bitcoin, it's like, at times that I expect
I'm like oh man, it's going to be super fucking
busy today, it's like literally like 10
sats per view byte, but then days where I think
it's going to be low, it's like 200
and it's so, it's so random
like I, you know, I
minted a project last week and it was just like
I was praying to the gods
that the gas was good and it was alright
so, let's fucking go
like the coolest thing about it
is just like
harnessing
Bitcoin in a manner
as like, harnessing Bitcoin as a
protocol in a manner
that was not necessarily
or, and it's like a objectively
creative use
of the protocol, like to me
that's like the coolest fucking
thing, like that we can take a
protocol that's been around for a hot minute
and figure out new ways
to use it, like new creative
ways to use it that people are
fucking hyped about in the community
is a beautiful thing
because like Bitcoin is
not only like
but is like
highly, highly permissionless
and it's just
like a fucking beautiful thing
so I am so hyped
for runes, I am so hyped
for BRC20s, I am so hyped
for ordinals and I am also hyped for like
the next innovation, like whatever the fuck
it is, the next creative use of the protocol
to me, I feel like people's
brains have been unlocked
by Casey and all the other
contributors who are working on this stuff
and at any time
I see anyone from the community
you know, an Udi, a Trevor
anybody, anybody from the
Bitcoin community that
really is deeply passionate about this stuff
a Leo, any of these folks
to me, I just want to do nothing but give them
a fucking hug and high five them
because, if you think about it
back in the day
people have been running
experiments on Bitcoin forever
if you go back to the counterparty era
things have existed
that have been
Bitcoin adjacent in various
ways for a long
period of time
but this is like
a very unique way to use
the protocol itself without it being
necessarily adjacent
and I think that's a really, really beautiful
very pure thing
and in terms of all the L2s, to be blunt
I'm very skeptical for most of them
because I don't actually think most of them are really going to work
all that well, but I think
now is the time, you're going to try and experiment
now is the fucking time
when there's enough critical
mass in the Bitcoin community
for people to actually decide
and value these different inventions
and these different ideas
so, yeah, it's really a very
exciting time in the Bitcoin community for sure
Oh dude, I totally agree with you
you couldn't have said it better myself
and I love that you kind of say it's like this
older technology that
the community can kind of come together
and improve and it's like
I've been learning a lot about it
because of Ordinals and the Tapper Wizards
and everything
and it's not easy to upgrade it
so it is kind of beautiful that
we have to work together
it's kind of like hurting cats
getting everybody to work together to agree to change it
and we're succeeding
so far, which is really cool
and like you said, there's
potential use cases that we're
going to see that we can't even fathom yet
like if we're already mind blown right now
imagine what we're going to see
and I think I saw a tweet from Udi
that like, oh shit, I'm so small-brained
sometimes I can never remember the details
but I think he was saying
we're going to see crazy
bridging across the different
blockchains and shit like that
once we get this op-cat going
and like, I don't know, crazy
exchanges and shit like that
so I'm really
interested to see where the big brains
in the space can take this
and then how us small brains can just
de-gen cats and stuff
on top of it
Pretty far, hopefully
Let's fucking go
Yeah, man, I'm personally
excited about it because at least if anything
it's, you know
novel experimentation among
the old guard and I find that cool
I will say like, you know
I see sometimes, like some
of the stuff that's annoyed me and
what I talked about I think like two weeks ago
was just like some of the repeated
faux-pas, it's not really even that
it's more like repeated
wag-me and annoying culture
that's come back there in some
ways and I'm just like, ugh, this again
and even like there's other things that have
started annoying me, let's see, I see Jonah
in the audience, Jonah uses the term
de-gens among other people
like a lot of people use that word, dude, honestly
like someone who says the word web3
I'm like, you don't
you don't get it
I kind of feel like I am a de-generate though
No, but no, the full word
the full word
the full word is good, degenerate is good
like that's fine
I'm fine with the full word
but de-gens, it's just like
oh, we have to, we have to
because I feel like it's one of those words that's been
co-opted by
co-opted by corporate figures that enter the space
and want to impress the native culture
but don't actually understand it
oh shit, is it going to be like Pepsi and fucking
KS? Literally, yes, exactly that
exactly that
right, no like
this cycle's
wag-me is like
we have to do it for the de-gens
like that is, to me
kind of crap, but anyway
I see what you mean man, I see
what you mean when it's so
yeah, it was so counter-culture before
but now it's mainstream
we have to go against the grain again
yes, good call, good catch on that
crypto is just another microcosm of
generalized meme culture
let's fucking go, I love memes by the way
memes are the best
shout out for memes
memes are great because, you know
they're an indicia of culture
they're like a single unit
of culture, so every culture
has memes
in some shape or form that they can appreciate
and love, which is why memes are ubiquitous
which is what's so great about them
it's true, and it's like, to be a good memer
it's like, you have to have your finger
on the pulse of the culture, you know what I mean
and you have to be relevant
and you also have to be saying something true
but in a funny way, that's kind of like
it's not easy man
it's not easy to get the meme
and go in there, but I respect anybody who does
who does it
for sure, me too
god bless
god bless
well let's see, here I want
to toss to beat, as we get ready to wrap
this puppy up, beat, how are you doing tonight?
hopefully, maybe, yes, no
you might be grabbing your coffee
I am good, I am good my friend, how are you living?
excellent, how about yourself?
good, you know what, it's funny
we talked about a lot of this stuff
and the meme coins
and we talked earlier
about brands and
finding traction
all this stuff
it hinges on
you know, like that
intangible quality that makes
something great, and
here's an interesting example
maybe not an example of just that
but there's a guy that has a Bitcoin podcast
that he's, you know, he's
on maybe like episode
1600 or 1700
today was the first day he ever mentioned
dog with hat
that's how early we are
so watching
the meme ability for
some of these coins
to cross over
he's even in the
ecosystem, but he's not
in this bubble we're in
so it's interesting to watch what does have
the power to like, take that step
and it was interesting
watching Pepe run
and the meme ability of that frog
and trying to figure out what's going to be next
so I think it's a really interesting
cycle right now.
Hey, that's actually interesting that you talk about that
so it's almost like there's a kind of like a meme
lag going on, hey
because like, I have noticed
that in the past with other things
like, I don't know
one time I went to Vancouver
and I heard like, I heard some
song, I can't remember what it was
it was really catchy and then I went back
to the old prairies there
and I didn't hear that song for two months
and like two months later that shit
was everywhere and maybe
that's actually happening with memes
where like we play the
shit out of these memes quick and hard
but like they, and we think we're
late because we're like fuck
but we're really in this like hyper cylinder
and like the outer edges of it, outer
rings are like just getting
fucking Pepe now or
you know, whatever.
That's a really cool fucking thought, man.
And it's funny to your point, you think about
the recent initiative where
a lot of the with holders and
any meme coin, right, like you become
a holder, you become a...
What was it, $700,000?
Get it on the sphere?
I think that they're going to put it on the sphere
and that is like a group community
promotional product to get
people to buy into it, like
that's, people have no
idea what dog- which by the way
did anyone check prior
to see like if the sphere would allow
for that?
I don't know. I think it's a
$550,000, I think
there's some taxes as well but there's a
fee that you can pay to get something projected.
No, but like you definitely can't put a
penis on the sphere, right?
There's a limit, right?
What if that's like our version of
aliens are coming, you know, like the cult
where it's like let's all get together because the aliens
are coming and we all believe this
crazy thing is going to happen
when it doesn't happen, instead of
us being like wow we were conned, we actually
believe in it stronger because we're like oh we just
got the date wrong, the aliens
will come, we will get the dog on
the fucking ball, just not
you know, and then the true believers
will keep it going, so let's
fucking go.
Dog on ball.
I will say, the first-
well one of the first times I heard of
Wyth was actually from
someone at my school
who texted me a picture
of the dog with the hat and
said what do you know about this image?
I was like oh boy.
And I will say,
he was super performant
he put in like a couple hundred dollars and now has
like twenty-five thousand dollars and
started asking
me if I want to launch a shit coin and I'm like
no, I'm okay.
want to do that.
That's fucking with this meme
lag theory because that guy
seems to have gotten it pretty quick.
it's an aggregate yes,
it's an aggregate yes, but there's a couple
of us, there's a couple like
leaks in the system per se, like
people effectively like you
or I that put on a friend
and they kind of like
skip through.
We jump them through the warp
gate into the
hyper ordinal
identification.
Yeah exactly, like someone that's never touched crypto before
but now they're buying an ordinal.
Yeah, everybody should buy an ordinal. If you don't have an ordinal
get an ordinal today, you're not going to regret it.
No, I mean you might
regret it if it's the wrong one.
Don't buy the wrong ordinals.
Get the right ordinals
first off, don't get the wrong ones.
That's great advice,
just buy the right assets. That's the last thing
we need is Mr. E telling you to buy
the wrong ordinals and then you hate ordinals
now. God damn, see I don't think
these things through. This is why
it's all that said and done.
Buy the right ordinals everyone. Don't
buy the wrong ones like I told you to earlier.
And with that, I think I'm probably going to
pull this puppy into a wrapper.
So I will say
so NFT NYC is
coming up in what, like a month?
Maybe even less? I don't know the exact dates.
Yeah, I think people are going down there to that
New York place. They're getting
Nancy, they want to meet.
Yeah, man, I love New York. I live
10 minutes away. Are you going to dance
this time? I will.
Don't you fucking dance, Eddie.
No, I'm going to do it. Eddie, the jazz
club. How are you going to dance the jazz?
It has an unexpected abrupt beginning.
I will definitely
do it in large part because I have to
provide a little bit
more content for someone.
We need the content, man. We need the
fucking content. Eddie, we just
are an actual wizard, but for like a proxy
sale, you're definitely not allowed into
the taproot wizard event, my friend.
agreement I've made so far
was that if I am dancing,
it will not be with my sappy seals
t-shirt on.
It's the only agreement I have.
I heard that Gainsey bought that.
I heard that Gainsey actually bought that.
Yeah, it was Gainsey. That's fucking insane.
That actually makes me bullish on the
dudes. To be honest, I don't know.
I don't know why.
He rarely shows anything.
I'm fucking easily influenced. God damn it.
I will say he rarely shows
any conviction in anything
publicly.
He hates everything and so when he likes something,
I'm kind of like, oh.
Yeah. But we'll say on the
NFT NYC thing, get your
tickets ready. The one thing I know for a fact
I'm going to is the magic Eden thing.
Although that's on a Wednesday, so I'm not going to
the Bing-Bong after that because I have class the next
day. So that's not happening.
But I guess one of my questions
is this is just open and if you
guys have ideas, you can feel free to DM me.
But I probably
should interview someone or
someones while they're
here at NFT NYC. So if you have
any recommendations or just
requests, I could probably get in
touch with them. You should
interview somebody from the puppet community.
Like maybe Wankpire,
maybe Zek.
Yeah. Just DM me
names and
I'll see what I can do.
Yeah, because I spoke to the station
three guys and it sounds like I'll be able to get
it's sounds like I'll be able to get a
podcast room for four people at a table.
You're never going to get an
interview with the puppet master himself
but those two are
good like 10th best
Okay. Okay, fair.
What's going on, Profits?
Eddie, how you been? I've been good.
How about yourself?
Good, man. Miss you. So two things.
I'll see you in New York. Can we
dance battle properly?
Number one. Number two.
want to know because I know me and you are very
well aware in this arena.
Not like most NFT bros, you know,
me and you get women.
Do you believe that
the tweet of love I posted
is valid? Basically it says
she doesn't want to strip no more.
She's Moggin. Eddie, how do you feel about that?
I feel it's on point.
I feel it's very
on point. Honestly, I will say the one
coin that I feel like I've missed and I don't
feel like I ever miss anything. Like
boom, I feel nothing. I'm
indifferent. Mog.
I'm upset because I like that.
No, no, no, no, no. Don't be.
Don't be. It's only like 12,000
holders. I think you're good
to be honest. I'm not here to show that. I just
wanted to know what you truly, because you know, like I said,
we and you understand women.
So I just wanted to know how you felt about that,
but you're not late, fam.
It's like the
glasses can go on top
of other memes to make a super
meme. And I'm noticing
that a lot of these
ordinals collections are using
it as a trait.
And I kind of love to see it.
I'm always looking for it now.
So let's fucking go.
Yeah, puppets definitely saved Mog
for sure.
Yeah, puppets saved Mog.
Wow. And on that
bold tape tape, bold
tape, we're going to wrap this puppy. Hope you
guys enjoyed. You know the deal. If you did,
drop a follow for
English and I. We're back here
every Sunday, 8 30 p.m. Eastern time.
And if you didn't, you could go complain in the
comments. Or my
DMs. I don't really care. And jury
nights, be safe. And I don't know if there's
anything special happening this week, but
specifically him. A lot of people, there's people
on this stage that don't follow
him. And I'm always like, how
dare you? How dare you not?
It's the first thing I do when I look at somebody and I
meet somebody new. I say, are they following
English? If they're not, I silently judge
them like hardcore, to
be honest. I do the same. Alright
guys, jury night. Peace.