On the mic
Summary
This ATC episode focused on taking profit from meme coins and on the BitPerp trading competitions, which were set to start on Monday. Voice D spoke for BitPerp and described it as a perp DEX for Bitcoin assets and meme coins built on Bitcoin L2s. Voice D also explained that the testnet competition uses paper money, has a 100k BTP prize pool, and uses a synthetic price-feed model. Early in the show, the hosts and guests talked about security after Kool shared news of an exploit at Radiant Capital, and they argued that most so-called hacks come from insiders or social engineering. Most of the session covered trading habits: taking profit in stages and leaving runners, RSI, choosing leverage by asset, laddering buy orders, and the gap between swing trading and scalping. The show closed with a heads-up on the next morning's jobless claims report, talk about the US election, and Dave's recap of a debate. All of this is discussion, not financial advice.
Chapters
Show setup: why taking profit matters, and two back-to-back BitPerp trading competitionsMomentAt 0:06:17 on X
BitPerp intro: a perp DEX for Bitcoin assets and meme coins on Bitcoin L2s, with a testnet competition using paper moneyMomentAt 0:09:58 on X
Kool reports the Radiant Capital exploit affecting Arbitrum and BNB networks, plus advice to revoke wallet approvalsMomentAt 0:12:24 on X
Social engineering risks and vetting the people who get access to socials and DiscordMomentAt 0:26:28 on X
Market check: Bitcoin near 68,000, the 60k floor, and positions versus portfoliosMomentAt 0:27:43 on X
Profit-taking strategies: leaving runners, selling in 20% steps, and watching the jobless claims reportMomentAt 0:31:55 on X
Trading in volatile markets and the problem with copying low-leverage whales on crypto TwitterMomentAt 0:35:54 on X
BitPerp details: L2 launch partners, synthetic model, no KYC, supported wallets, and USDT/USDC collateralMomentAt 0:57:24 on X
Stacks Nakamoto upgrade, fast blocks, and sBTC explained, followed by Dave's Welsh storyMomentAt 1:06:43 on X
Laddering leveraged buy orders, managing liquidation levels, and taking profits during the competitionMomentAt 1:18:10 on X
Key quotes
“one thing that I say, see green, sell green.”
NatNat0:34:29Share on X
“Most of the most most of the issue we have in crypto is insiders, man.”
Kool0:18:49Share on X
“If you try to if you try to pick bottoms, you'll end up with stinky fingers. If you try to pick tops, you'll get socked in your chops.”
Landy1:24:44Share on X
“Stop trying to time the market. Spend time in the market.”
Dave1:26:30Share on X
“pay yourself or you're gonna end up paying somebody else.”
Excerpts
Show setup: why taking profit matters, and two back-to-back BitPerp trading competitions
- 0:06:17 Dave According to CoolCrypto, you're right. Yo. So excited for you guys. Excited for this chat, obviously. Like, we're gonna be talking. We figured, look. Like, we wanna obviously bring content that is gonna be relevant for…
- 0:08:29 NatNat What's up, guys? Welcome to another episode of Therapies. No. I'm kidding. Listen. I'm so looking forward to this to this space. We're gonna share a lot of information. We're gonna hear from Bitperp from... And I can't…
- 0:08:59 Dave Let's go. I'm down, Nat, and I am never one to back down from a challenge for the record. I just got done I just got done telling people on the Bitflow space because, apparently, word seems to be spreading that what…
BitPerp intro: a perp DEX for Bitcoin assets and meme coins on Bitcoin L2s, with a testnet competition using…
- 0:10:53 Dave Let's go. Yo. By the way, I know he slipped it in there. Like, y'all didn't even hear that, but, like, the... It just got better from what I told everybody yesterday. Right? Like, I told y'all about the 20 k USDT…
Kool reports the Radiant Capital exploit affecting Arbitrum and BNB networks, plus advice to revoke wallet…
- 0:12:24 Kool I'm I'm getting off the elevator right now. Getting off. Yeah. Getting off. Longest. I got lost. I got I got lost, so I think I've witnessed. You got lost. This is good. It's cool, man. I don't know, man. Like, it's…
- 0:13:53 Kool Yeah. No. I mean, it's it's it's... Only only if you're really into DeFi, I mean, you would know, but it's it's it's it's a big hack. They're of the biggest ones we've seen in a long time. So... But it's... I I think…
- 0:16:50 Kool Yeah. Yeah. Because, like I said, guys, with me, I don't... I'm pretty busy on chain, but most... A lot of my stuff is spread out everywhere. Right? So... But I... I'm... I I think the reason I'm not too triptuous…
Debate over whether "hacks" are really insider access to keys and multisigs
- 0:18:49 Kool So so so, Dave, what's what's crazy is most of these hacks, honestly, I don't think they're hacks. I hate when they use that word hack. I just... It fucking... It drives me nuts because hack is a... Some dev somewhere…
- 0:19:39 Kool So it's just human greed and and and that's it. This is what I'm steal, man. That's it. I mean, this is... But I hate when they say hacked. Fucking get hacked. One of the people there stole money, and that was it. So I…
- 0:19:58 Dave Yeah. I'm I'm with you because at the end of the day, it's more like either a... It's either an exploit that somebody found either in some contract that was like... Wasn't a flaw. Right? Like... Or it was some insider…
NatNat's MetaMask compromise and spreading assets across several wallets
- 0:21:07 NatNat Absolutely. My MetaMask was hacked not too long ago. I lost everything I have in there. Thankfully, I did not have a lot. My primary wallets are other wallets besides that because I really think met... I think I've…
- 0:22:22 Kool No. I said I said, are you are you saying that... Yo. You're you're you're the Bitcoin guy, man. Like, I don't get... Like, what do you mean? Yo, bro. You're leaving money on... Bro. Why are you leaving money on the…
- 0:24:15 Kool No. No. I... No. No, Joe. No, Joe. I 100% thought you were in it because this is this is the biggest, the largest, the first, and the largest social five project on on rooms... On on Bitcoin. I am shocked. I'm just…
Market check: Bitcoin near 68,000, the 60k floor, and positions versus portfolios
- 0:27:43 Dave Yeah, man. Big Fox. Alright. Now I hate officially all three of you. Okay. Fine. I'll I'll create more hours in the day. Okay? I'll make it twenty five hours and eight days a week. Oh my god. Needies. Listen. There's a…
Profit-taking strategies: leaving runners, selling in 20% steps, and watching the jobless claims report
- 0:31:55 NatNat Yeah. That that is a great question. I do believe that a profit taking point is different for everyone. Right? It depends on their liquidity size, the position size, when they got in, right, where they're comfortable…
- 0:34:08 Dave Got it. Love that. Look. At the end the day, like you said, every but I think it's also what I want us to differentiate too. Right? And for... Also for purposes of the BIPPRO competition is also to... We gotta…
- 0:34:29 NatNat Absolutely. And I do believe everyone, especially the the individuals that I have relationships with and connections with in the investment world, everyone has two different portfolios or positions as you may call it…
Trading in volatile markets and the problem with copying low-leverage whales on crypto Twitter
- 0:35:54 Kool Yes. Like I said, I don't I don't trade as much like like I used to anymore, but I think I think when you're actually trading, man, it all depends on what the market's doing. Is it really volatile? Is it ranging? One…
- 0:40:49 Dave Yeah. Y'all are definitely not degenerate because I don't know what the hell or where the hell... Y'all are, like, way too proper. Okay? This is... Guys, this is great advice. This is not degen advice. Alright? So we…
- 0:41:54 Dave Exactly. And if it's not your money, even if it's not real money, even better. Only upside? Yeah, man. I'll go make a million fucking wallets and sign up for this shit. Let's go. And that's crazy to me because I don't…
Landy on choosing leverage by asset, fundamentals, liquidity, and timeframe
- 0:44:51 Landy been retired for a while. And... Okay. So there's two different ethoses here, and I agree with everyone and kind of disagree as well. So there's there's two different takes. There's two sides. I have a big account that…
- 0:47:45 Landy Well, it's... It... It's all on the... It's about the asset. Right? If it's Bitcoin, my approach is gonna be different than if it's like a Roon or something else because I do leverage trade at a 100 x, but it's all…
- 0:53:17 NatNat What year though? What what year do you predict this? Because it's even at 55 for as long as I can remember.
Ecosystem security warning about unknown airdropped NFTs and connected wallets
- 0:55:03 Gpsc.btc Sorry. I just wanted to make sure everybody was taking, like, some precautions, like, not interacting with, like, AirDrop stuff that you don't know, like NFTs, AirDrop to your wallet, stuff like that. That type of…
- 0:56:09 Dave Yeah. Shout out to Ben. Yo, man. We'll try and see what we could do to maybe help. I don't know. But I know he's also in the in the STX and the Rooms chat, which, by the way, is becoming one of the... Is the biggest…
- 0:56:43 Dave Thank you. I was gonna say, I'm not out here trying to hold hands. I'm out here trying to win some money, Aiden. You know what I'm saying, bro? Listen,
BitPerp details: L2 launch partners, synthetic model, no KYC, supported wallets, and USDT/USDC collateral
- 0:58:33 Dave I love that. Did y'all hear what he said? Bitcoin l twos, not Ethereum. Bitcoin l twos. Batman, what's up? What's up?
- 1:02:00 Dave My man. You have to drop it in there. That's a good soldier right there. Don't listen to that, Aiden. Don't worry about it. We're gonna get on your platform soon enough. That's the meme token that we launched on Tron…
- 1:03:49 NatNat Yeah. He wants to know if we can educate Atari on fast blocks.
Stacks Nakamoto upgrade, fast blocks, and sBTC explained, followed by Dave's Welsh story
- 1:06:43 Landy Yeah. So, Atari, basically, your your problem with the stacks block times is the same problem that I had. I got in when I heard that they were going to... There was rumors that they were going to be upgrading the…
- 1:11:12 Landy So, Nat Nat, you have kind of a a little bit of a financial background kind of from what I just heard?
- 1:14:19 Landy Yeah. I think so. I mean, I... But I will give you... You know, my my Discord name is actually landy dot d gen because I I put on my d gen hat as soon as the market turns bullish. And, this happened, of course, January…
Laddering leveraged buy orders, managing liquidation levels, and taking profits during the competition
- 1:18:10 Dave Dontongs. Don't forget Dontongs. Listen. Here's what we're doing about this BIPERB trading competition. Right? Like, I think people really need to strap in, and what I think is also gonna be beneficial... I know we got…
- 1:28:25 Landy I was gonna say that, another, quick anecdote on profit taking is pay yourself or you're gonna end up paying somebody else. That's really what it comes down to. Leverage trading is is not for everyone, but a good way…
- 1:37:11 NatNat Oh, hold on. Hold on. Guys, report tomorrow morning, 08:30AM. We wanna keep our eye on
Short excerpts from the auto-generated transcript. Listen on X for the full show.