All Things Crypto w/Dave Kool & NatNat. PUMPFUN KILLED CRYPTO

# All Things Crypto w/Dave Kool & NatNat. PUMPFUN KILLED CRYPTO | 2025-02-04 | https://x.com/i/spaces/1ynJODMRWErxR | status: approved
# Speaker names are voice-match candidates, unconfirmed unless marked confirmed.

[0:00:00] Voice L: We
[0:03:06] Dave @DCBK2LA: What is good, guys? What's up? Happy Tuesday, everybody. Welcome to another episode of ATC, all things crypto aka all things cooking. I'm not gonna lie. I took an old man nap in the middle of the day, so I woke up about, like, ten, fifteen minutes ago. It's wonderful. God. It's so wonderful to take midday naps. So necessary. Although, shout out, I see it was good. But I'm catching up. I was obviously all over crypto Twitter today, but let's say what's up to my cohost. Cool. What's good, bro?
[0:03:38] Kool @koolcryptovc: Hey. What up? What up, guys? Happy Tuesday. Hope you guys doing okay. I'm ready I'm ready to roll, man. Let's go. How you guys doing?
[0:03:44] Dave @DCBK2LA: Let's go. Landy, what's good, my bro?
[0:03:48] Landy @CryptoLandy: I'm doing good, man. I actually funny story, I went to go get my mail only to get a notification that that there's been a rash all over my area, people breaking into mailboxes. So now I'm down at the post office with my wife to try and recover our mail, and our whole neighborhood is here. So we've been waiting here for a long time. So I missed I missed some of the crypto press conference earlier, and I am sad. I wish that I had watched some of that. So... But maybe you can fill me in unless you were taking an old man nap during that. So
[0:04:34] Dave @DCBK2LA: Yeah. That definitely happened. I saw the kickoff to it, but luckily, we got summaries and we're able to actually, you know, tell what's going on. But let me say what's up. The gold one came up. Gold one, what's good, bro?
[0:04:46] Voice C: Yeah. What's good? What's good? What's good? I came in here. He playing that shit. Yeah. You got me? So I had to just quickly just jump up and just see, yeah, all the vibes and all of that. What's good? What's good? What's good with you, bro?
[0:04:57] Dave @DCBK2LA: Let's go, bro. Appreciate you, man. Yeah. Listen. Let's get... Let... Let's jump into it. Obviously, there was a massive massive massive press conference today. David Sachs, obviously, the crypto czar literally went on TV, and, I I mean, they went through a bunch of stuff. Right? I think the main points were, number one, they are silly, evaluating a Bitcoin reserve. So there's been no kinda, like, definitive answer there. I did see also that they did comment obviously on on NFTs. This... The the comment that was made about NFTs was, ultimately, if somebody... Like, they look at the way in which they're viewing NFTs is ultimately not as, not as any other asset. It's not a stock. It's not a... Excuse me. Not a stock. It's not a security in any way, shape, or form. It's more of a collectible. So I think that's gonna really change the game once clarity kinda comes there. And then I also saw, Hester Pierce, that was saying the SC commissioner states that if people want to buy a token or product that lacks a clear long term value proposition, they should feel free to, but should not be surprised if someday the price drops. Essentially, she's saying, look. Y'all need to do your own freaking homework at the end of the day. Right? But overall sentiment, as I was reading and I'm finishing up, like, looking at the transcript and what these guys were saying, it looked like overall cool. Like, pretty positive stuff. I don't think anything, like, too too crazy that that that was said. I mean, maybe people want a little bit more clarity on... Or, you know, or maybe we just need a little more time to get some clarity on the Bitcoin reserve topic. But what did you make? Did you watch that that press conference?
[0:06:45] Kool @koolcryptovc: No. I kinda missed it, man. Oh, my... I saw small clips... Short clips of
[0:06:57] Dave @DCBK2LA: You're breaking up on a school.
[0:06:58] Kool @koolcryptovc: Thing, but I think... Oh, sorry. Can you can you give you give that one?
[0:07:03] Dave @DCBK2LA: Okay. Now we got you. Yeah. Go. Yeah. Yeah.
[0:07:08] Kool @koolcryptovc: I I I missed this... I I missed it, but I'm gonna watch it later. I did see some clips of Saks talking about this stuff. I I do believe that the market reacted to, you know, the press conference because we kinda down. And right now, I think I think because 96 k again... Oh, actually, it actually hit 96 earlier back up to 97. I think people expected some some clarity. They expected something... Some big news, but not... Nothing much. I mean, it's... It takes time. I I think it takes time. What I'm looking forward to figuring out is when they finally tell us what's a security and what's not a security, and what what what does it mean for you to be a token in crypto? I mean, are you... Are exchanges delisting? Are delisting more tokens? I I just think that would help to clarify a lot of stuff. So we we just have to wait, man.
[0:08:07] Dave @DCBK2LA: Yeah. Landon, know you said you obviously didn't get a chance to watch it, so I'm just kinda doing a little bit of homework now. Go on. Did you get a chance to watch that press conference or no?
[0:08:15] Voice C: I've seen it posted everywhere, but I haven't got to watch it. To be honest, bro, like I said to you, you hear me saying this all the time. I don't give a fuck with these politicians out there, and I'm stacking sats anyway. Who give the fuck? You get me?
[0:08:28] Dave @DCBK2LA: Let's go, bro. He's like, don't give a shit. He's like, I'm stacking stats anyway. Yeah. Listen. At the end of the day, like, if you're in this long term game... But I'm looking now. Security set... Okay. So they posted... So the SEC was also posting a few things too. Right? Security, the status of... Yeah. Go ahead, Landy. Sorry.
[0:08:45] Landy @CryptoLandy: So they they talked an awful lot about stablecoin legislation. I know that for a fact. That was part of the... I believe they're gonna introduce some new... So they have some guidelines. I know the general specifics because I was listening. I just wasn't able to specifically listen into details, but I was picking up on some of the legislation that's hit the hit the floor and some of what's coming soon. But they want regulatory... They essentially want laws rescinded or clarified by, you know, throughout the March to June time frame. So that's been pretty clear, and I'm wondering if there was... Because everybody got a chance to speak. It was round... It felt like an introductory press conference where it's like, we're gonna talk about these things and nothing's gonna actually happen here except announcing some stablecoin legislation they wanna go for.
[0:09:49] Dave @DCBK2LA: Alright. I'm moving at the speed of AI right now. Alright? So I found a bunch. Give me one second. It's literally ripping the picture of the image. I'm, like, literally just, like, going for the first thing that I saw, and then it's gonna give me a, a little bit of a breakdown. But as I'm looking at this, right, there's a lot of these security status, scoping out coin and token offerings, registered offerings. Now this is SEC stuff. This isn't necessarily... I wanna make sure that I'm looking at the right thing and that I give you guys the right information. We work with it. Wow. Okay. So SEC put out, like, a bunch of, like, different guidelines, I guess. Like, right, SEC drops list of tasks after, after David Tech's, cryptos are meeting, press conference. So let's see. Okay. Here we go. So here's what we got. So what they talked about, one, security status. The task force is examining the classification of different crypto assets under securities laws. There's another... Number two is scoping out. What they're doing is they're identifying areas outside the commission's jurisdiction, including welcoming requests for no action letters to clarify regulatory boundaries, which is great. Coin and token offerings. So they're considering temporary relief for token offerings with clear information disclosure to reduce uncertainty in trading and compliance. Registered offerings. So they're exploring, making modifications to registration paths like reg a and crowdfunding to facilitate token offering registrations because, obviously, we know that was a huge... I mean, that's that's the hurdle that you have to get over, especially here in the... I mean, here in The United States. We all know that from the... If you're a if you're a tax fam... A part of the tax fam. Special purpose broker dealer. This says updating broker dealer no action statements to cover custody of crypto asset securities alongside nonsecurities. Okay. So this is like a whole list. So this... Hold on. This... The top... There's five more. Custody solutions for investment advisers. So they're developing a regulatory framework to enable safe and legal custody of crypto assets by investment advisers. Another one is crypto lending and staking. This is big. Clarifying whether lending and staking programs fall under securities laws and how they should be structured. Crypto exchange traded products. So they're reviewing rule changes for new crypto ETPs, including staking and in kind transactions. So I guess whatever similar to staking with a focus on regulatory approval processes. And the last two are clearing agencies and transfer agents. So addressing how blockchain can be integrated into clearing agency and transfer agent operations to modernize financial markets. That's fucking crazy. I mean, amazing. And then cross border sandbox exploring limited scale international crypto experimentation with potential long term regulatory frameworks. Everything seems to be on the table, and they gotta clear task list. I know that was a little bit lengthy. I'm sorry, but that's good stuff. Yeah. Gold one. Go for it. Yeah. I'm sorry. Sorry. That's Oscar. My fault. My fault.
[0:12:54] Voice C: Was gonna say, yeah, that's that's... Just just just quickly, though. That that is, like, a crazy set of of legislation. Yeah. Like... But what I'm seeing here still is, like, a lot of concentration on passing a lot of things to just kind of, like, make a a really big custodial space with with little education again. So, yeah, like, I've I've seen this play before, you know, like, before choke point two point o and before, you know, FTX that they... Again, these are bigger moves, but, you know, that they are acting friendly. Like, you know, don't trust Verifier. That's all I gotta say.
[0:13:34] Dave @DCBK2LA: Yeah. I mean, look, it's... This is still light years ahead of what any other administration... I mean, I mean, look. We're in our first term of, like, real crypto talk just at the end of the day. Right? So this is a... To me, this is a massively positive sign. But, yeah, Oscar, go for it.
[0:13:49] Voice M: Yo. What's up, guys? Oscar here.
[0:13:52] Dave @DCBK2LA: What's up, man?
[0:13:52] Voice M: Show to us in the space to drop a like on the followers, you know, smash the tweets, man. We only live here in this space to support each other. You know?
[0:14:01] Dave @DCBK2LA: I forgot about that guy. Goddamn. Yeah. Landy, go for it.
[0:14:07] Landy @CryptoLandy: So this was the newer announcement. So a lot of this stuff, you know, I... I'm glad that they're clarifying. But the newer announcement was, like, it... A brand new announcement as of today was that they are introducing the, Lummus Gillibrand payment stablecoin act s four, s, forty one fifty five, which is their their stablecoin legislation that's being introduced. So she's got the Bitcoin act, which is a, Lummus Gillibrand, and then the stablecoin, specifically the Payment Stablecoin Act. And I I think it's interesting that it's a... The the way that they're kind of couching this. So that's, like, the new kinda news. A lot of the other stuff that that was happening was stuff that we've already known about our existing legislation. And there has been other stablecoin acts that they've brought to the floor and worked on. But this one seems to be, the the... Their highlight of the day that they were coming out with, and I think that's why the markets are a little disappointed.
[0:15:22] Dave @DCBK2LA: Fair enough. Let's see if Junie can give us a quick breakdown too. Hold on. Hey, Junie. Wake up. Hey, Junie. Can you give us a breakdown of the the press conference or, I guess, the... What's it called that that the crypto czar David Sacks held today?
[0:15:41] Voice K: Sure thing. David Sacks, the crypto czar, outlined the administration's digital asset strategy today. They announced the formation of a bipartisan congressional working group to develop crypto policies, the evaluation of a national Bitcoin reserve, and plans to push forward crypto legislation. Sachs also mentioned creating an advisory council with industry leaders to propose federal regulations. His focus is on ensuring American dominance in digital assets and ushering in a new era for digital finance. If you need more details, feel free to ask.
[0:16:14] Dave @DCBK2LA: Was there anything that is gonna be, like, super impactful to the crypto markets? Like, in the immediate term, did they make any, like, change it... Like, immediate changes or anything else? Because the market's selling off, and we're trying to figure out why.
[0:16:27] Landy @CryptoLandy: Oh, I can tell you why.
[0:16:28] Voice K: Immediate impacts might stem from the announcement about evaluating a national Bitcoin reserve and pushing forward crypto legislation. These actions indicate a strong governmental focus on integrating and regulating crypto, which could cause market volatility as investors react to potential new regulations or government involvement. The market sell off might be due to uncertainty around these upcoming regulations and how they might affect the crypto landscape. It's a wait and see situation, but these announcements are definitely significant.
[0:16:59] Dave @DCBK2LA: Thanks, Junique. Yeah. Lendi, go for it. Tell us.
[0:17:03] Landy @CryptoLandy: So it's because we've we've started a downtrend as of last Friday before the before the actual tariff news hit. We had a... We put in a lower high. We already had a lower low. And this is now... You know, we had an extreme move down to support. And as long as it hangs out above yesterday's low, then we're not looking for continuation. Just kinda playing between support and resistance. But after the big bounce up, it's not abnormal to see this kind of draw back down.
[0:17:35] Dave @DCBK2LA: Yeah. I mean, looking at this now, do you... So what do you guys think? Like, let let... Let's talk market for a second. Right? You think, again, this is just, like, more panic sell off? I mean, this is to be expected. Right? Like, volatility is... Like, if you can't really, like like, trudge through all of this, like, this is gonna be commonplace. Right? Like, these violent moves up, down, like, you have to have the stomach to kinda be able to do this, but we kinda talked about this yesterday where it's like, man, like, this... It it it... It's kinda crazy, but cool. Nothing is changing, I'm assuming, on your end on the market side, like, volatility wise day to day. Right?
[0:18:08] Kool @koolcryptovc: Yeah. Nothing nothing's changing. ETH is oversold massively. If there's any project, probably, in the top 20 that I would recommend people look at, I mean, of course, I mean, you do you do need a lot of money to to, you know, to really own a lot of it, but ETH is probably what I would look at. It's the... The sentiment is horrible right now. People hate to tear them even more. It... The the the dump was massive. Liquidation was crazy. So, as of right now, I mean, nothing changes. Just find a project you like, one or two, and just dollar cost average. And if you don't have liquidity, like I said, focus on trying to make money in on... In other ways, either your edge of farming or you're you're looking for crypto jobs. But it's possible that it could go to $2,122,100. Who knows? Who cares? But as long as you believe that, you know, things would look up eventually, which I believe they will. They should because we've we've had, like, a seven, eight week up only since Trump got elected. That was November 5. Ever since November 5, we've had up to the right ever since. We haven't had a downtrend still. But this massive dump, of course, is liquidations. I believe we have probably more whales wanna push the price lower so they could get better entries. That's what I think, but nothing has changed in my book, man, bro. Nothing has changed.
[0:19:31] Dave @DCBK2LA: So I was thinking about this. Good shit, Cole. I was thinking about this. Right? Like, I've been thinking about this for a minute, and I remember how I felt when I first heard about, like, pump fun. Right? Because, like, if I'm being really... If I'm being dead honest, like, pump fun is kind of the downfall of all this shit. Right? Like, I think if we had no pump fun, and I'm kinda curious what you guys think. If we had no no pump fun on Solana, not... Like, all to do amazing. Everything else does amazing. I feel like we've now set this tone where gambling like this is now accepted. There's money going into, like, more gambling, and it's just like, we're just leading more people, like, to slaughter. And it's like, I'm trying to think in my mind, like, how... What needs to happen in order for this not to happen? Yeah. Yeah.
[0:20:21] Kool @koolcryptovc: So so so I... You know, it's it's crazy you say this. I I don't have the chart in front of me. I wish I did. Somebody created a chart of when Paul Farr was created. Ever since then, a lot of projects have struggled to do anything. It's just been down only, man, for all coins ever since Pomphon what... Pomphon was created. Pomphon makes hundreds of millions of dollars, and they send all that Solana to Kraken and dump it all. They just... They extract so much liquid... Liquidity and dump it all in Kraken. Plus, I read a report. This is, like, a couple weeks ago. Only only only point 01% of users on have made 10 k. So 10... That's it. So it's a... It's it's sucking out the liquidity, creates it... Is is dilute in the markets. And I think that's why a lot a lot of projects, a lot of tokens, there's that much leverage on them because we saw ETM dumps 37%. That's crazy. We saw optimism, average of all these layer twos go down 39, 30% in in just hours. So I think because of pump fund, more people have to take more more leverage to make money on all points, man. So in my opinion, of course, I'm not saying you can make money on PunkFun. What I'm saying is, as a whole, it's it's not good for the industry. There's too many tokens. And not just PunkFun. There's a pump fund version on every blockchain now, which means you're only focused on Solana. No. No. No. No. No. There's a pump fund version on Move, pump fund version on Eclipse, pump fund version on probably every single blockchain out there, and I I don't know. I don't I don't think it's a good thing. And how do you fix it, bro? I think the only way to fix it is we... A nuke. That's... A nuke fixes everything. Because when people lose large amount of money, they stay with the market, man. But DJs and DJs, I'm sure there'll be another way to make money crypto again. So I don't know, bro. Is this... I don't think it's a good thing, though, in in my opinion.
[0:22:39] Voice C: With that Yeah. With that report here, Matt, does that report show what they dumped it for?
[0:22:46] Kool @koolcryptovc: Oh, wait. Wait. What do you mean? The the the Solana?
[0:22:48] Voice C: So what you're saying, yes, that there's a lot... The the pump dot fungus extract a lot of Solana, obviously. Right? Like... And then they take take that Solana to Kraken,
[0:22:58] Kool @koolcryptovc: and then what do they dump it for? Oh, no. You you... USDC, man. They're cashing out. They cash Yeah.
[0:23:04] Voice C: They dumped the to USDC, and when does it... Where does it go next?
[0:23:08] Dave @DCBK2LA: I brought to the bank.
[0:23:09] Kool @koolcryptovc: Into the bank account. Where where else would it go? They they Okay.
[0:23:12] Voice C: So they're they're all they're all just basically dumping back into fiat. Yeah? So this basically is a value extraction completely from the entire crypto space. Yeah? Right? What I'm gonna say
[0:23:24] Dave @DCBK2LA: is Everything we
[0:23:25] Voice C: learn a lesson from this. There's only one thing that's going up against everything else.
[0:23:31] Dave @DCBK2LA: Facts. And here's the other thing. What scares me, and this is really like... This is frightening now because when I look at the numbers, okay, like, pump fund makes up 80% of Solana's revenue. Like, these degens are making up 80% of the money. Like, where's all the other shit that's being built on Solana? I... Listen. I'm gonna double check that number, but I saw that number. I believe it was just this morning that I saw that number. But listen to some of these... Oh, Miles wrote about this. Thank you, Pres. So the launch of pump fund is linked to the downfall of the altcoin market versus BTC. Speculative capital shifted from top 200 assets to low cap on chain projects. Early insiders got rich, but most retail investors who entered late faced big losses as these coins quickly retraced 70 to 80%. Unlike 2022 where losses were limited to liquid centralized exchange altcoins, this time retail got stuck in illiquid on chain means. This caused more wealth destruction than the 2022 bear, including Luna, despite Bitcoin and major coin staying in a macro bull trend. Pump fund changed the game, turning crypto into a massive casino, but it also highlights the effects of harsh crypto regulations forcing the industry to find new ways to launch projects. I guess if we will... Full circle, like we started the show, this all goes back to the SC fucking c zero clarity having, like, no direction when it comes to legislation. And now all you're doing is going to litigation, fucking sending people's Wells notices, and now they're forced to fucking go out and be like, let's create this casino. And now look at where we are. How the fuck do we get out of here, though? That's the question.
[0:25:13] Voice C: But And the madness is, Dave, like you said that you just said it, right, in that report. Out of all of the the casino building and shutting down, they keep recycling the casino idea. Right? And then they dump it into either fiat or Bitcoin. That's it. Like, peep... They don't care about anything else. I understand what I'm to say to you. Fiat makes them be able to make more fiat, and then they can buy more Bitcoin. Simple. It's just very simple. And and and and, obviously, again, you know, without stating the obvious thing in the room, that that at any time in the Bitcoin existence, if you'd have just bought Bitcoin and held it, you'd be up more than any other person in the space, anyone who's bought any other thing. It's crazy. At any time period of any bull and bear market.
[0:26:02] Voice F: Well, guys, I I think the way that we get out of this is the same way that we got into it. It's the narrative that's being spit and spilled out everywhere that, oh, Solana is the way to go. It's cheap. You know, pump fund, gas fees are low. Everybody's been shilling and telling everybody that. I go on to TikTok, and all the newbies, all the new people, the last people in the world that should be trading pump fund coins, 10 k shitters, professionals, if anybody, should be dealing with those. And here, the newbies on TikTok are all trying to make it and wondering why they're losing $6,000, losing all their money. And so I go on to TikTok, and I just start spilling information. Everything that I know from Twitter, from everything that I've known from 2021 till now about Ethereum, the good coins there are, Pepe, you know, like, Giga, Mudang. There's so many good coins you could buy on Coinbase. I start telling them. I teach them about Coinbase Wallet and how to buy coins on a... See, guess what? These people, my last livestream... You guys can go look. I actually tweeted about it on my profile. My last livestream, I got over a 130 concurrent livestream viewers. That means they stayed. They listened to me. They were learning. They were asking questions. They started buying Pepe and the other coins that I was talking about. And guess what? They're gonna do extremely well coming into these next coming months. And what what they're gonna do? They're gonna be like, oh, shit. This guy actually was giving us some good info, not trying to get us to send a coin to Radium and all this bullshit and then getting their liquidity stuck in a fucking random 5 k shitter. You know what I mean? So it's like, now... See, this is what we need to be doing. I shouldn't be the only one getting a 130 viewers on TikTok telling them and helping them, and they're genuinely listening to me and actually thankful. Right? They're, like, super grateful that someone... They can tell if someone knows what they're talking about and if someone's just some gambling idiot. And so you guys, it's all of our duties. We shouldn't even be in this space. Edge... Every one of us should be trying to get into a livestream somewhere where the newbies are, where nobody is talking about the things that we're talking about here. Right?
[0:28:23] Dave @DCBK2LA: Hey, yo. Stop trying to take my listeners. That means we're going through livestream, bro. These spaces are important. These...
[0:28:28] Voice F: Yeah. No. These spaces are important, and and we need to be here. Right? But then we also need to be going out. Right? And and... Because look at all these newbies. These are the people that we're talking about that they could be learning the right way to get into crypto and winning, but instead they're out here trading pump fund coins and then losing. And we're wondering why we're having this major problem that's worse than fucking FTX and shit. Right?
[0:28:55] Dave @DCBK2LA: Yeah. Like, this is just... Like, great point, Saga.
[0:28:58] Voice C: Can I can I just ask, what is the right way?
[0:29:01] Dave @DCBK2LA: Yeah. Exactly. I don't... Like, well, I know what the way... What the... We know what the wrong way is. Right? So it's just like, we know pump fund ain't it. Right? I think that's the first step. The right way we could debate a million years from Sunday. Right? But at the end of the day, it's like, whether it's all coins or anything else, gold one, I don't know, man. Landy, yeah. How do we fix this thing? Like, do we just... Like, does PumpFund need to just blow the fuck? Like, somebody... They need to choke point PumpFund or something. Landy, go for
[0:29:31] Dave @DCBK2LA: I can't hear Landy. Can y'all hear Landy?
[0:29:37] Dave @DCBK2LA: Nah. I don't hear him, man.
[0:29:38] Kool @koolcryptovc: Let me... Is that... May... Maybe come back, bro.
[0:29:41] Voice C: Yeah. Let me Yeah.
[0:29:41] Dave @DCBK2LA: I I couldn't hear either. Yeah. Think it starts
[0:29:44] Voice F: with... We just give people, especially the newbies, the level of coin that they can handle. Right? So give them maybe... Like, it it doesn't have to be a major Pepe 5,000,000,000 market cap. Right? But maybe it could be a smaller market cap that's a genuinely strong community. It's shown its strength in pullbacks and then making higher highs. Right? It has good volume. Like, we show them quality coins at least where they can make some money, but it's not fucking off pump fund. Right? Because those people are gonna get wrecked. And I think that's where we start.
[0:30:17] Dave @DCBK2LA: Yep. Let's go, Landy and Joe and Joe Kim. I wanna go to Joe after. Landy, you good?
[0:30:21] Landy @CryptoLandy: Yeah. Yeah. I think you can hear me now. Right?
[0:30:23] Dave @DCBK2LA: Yeah. I got you.
[0:30:24] Landy @CryptoLandy: Okay. So I do wanna be a little objective here. One of the things that is very different now is the amount of open interest in the markets. So let's see. I know that there's pump fund obviously extracting liquid ticket, and that is a a big a big deal. You know? That's... It's bringing a lot of focus to the Solana platform, and then there, of course, a lot of liquidity extractions coming from that. But when you look at the data for open interest, just Bitcoin alone, we wiped out near $3,000,000,000 worth worth of open interest in one wick yesterday. Alright? So because price is exponentially higher, leverage is is, the the open interest, which is the leverage in the futures markets for just Bitcoin alone is incredibly high. Now when you start taking the aggregate open interest across the market, it's insanely high, with, of course, being heavily weighted towards Bitcoin. But because there is so much more, there's about 10 to $12,000,000,000 more open interest at the highs here than there was last mark... Market cycle, right, because of the price point of Bitcoin and the amount that you have to put in to leverage that. And that is also bleeding over to those same traders also taking larger and larger bets on alts on a centralized exchanges. So when we get liquidation cascades like that, it starts wiping everything out. Everybody starts starts... It gets ripped off like a Band Aid across the market because everybody's losing their coins. And we're seeing a lot change hands. Price, of course, reflects that. And you're seeing a lot of open interest washout. So it's not just as simple as, like, well, pump fund, which I do think is a liquidity sap, But it it it is also Bitcoin's price so high. Leverage is just ratcheted to the tits, man. I wanted to give you an example because I wanted to get to my computer, but I wanted to go ahead and let you go around the horn. And I'll give you some... I'll give you a good example of leverage just between Bitcoin and Ethereum and the amount of aggregated open interest that got wiped out. And I think it'll put things in perspective when in combination with the pump fund stuff.
[0:32:47] Dave @DCBK2LA: Alright. Good shit. Yeah. Let us know when you're back. Joe, welcome, man. What's going on, bro?
[0:32:51] Joe @JoeOnChain: Hey, guys. Appreciate you for having me up on stage, and thank you guys all for your input. Just sort of listening in and and love hearing these conversations and sort of seeing where the space is heading. I just wanted to throw my ring of the hat as to how the hell do we fix this thing. What... Whatever's going on. However, we ended up here in the market. It's very convoluted, but I really just can't overemphasize how important regulatory clarity is. I mean, as someone who's been trying to build in this space and is based out of The United States for over two years, three years, it literally wasn't possible. You literally were not allowed to build anything with, quote, unquote, utility or, like, a real use case without being afraid that you're gonna get attacked or, like, get come after, by the SEC or other three letter organizations, etcetera. So it... It's sort of, you you know, the government indirectly veered us into also this direction because nothing else was allowed to exist. There was no innovation that people could do for fear of getting prosecuted. So I really think with this new administration, just the regulatory clarity is gonna be massive as well as all the other cycles sort of lining up. And at the end of the day, I just wanna emphasize too, we vote with our dollars. I think we all know that. So wherever we put our money at the end of the day, yeah, sure. We vote at the poll. We definitely do that too sometimes. But really, truly, at the end of the day, you vote with your dollars. Wherever all the money flows, that's where all the lobbyists go, you know, and etcetera, etcetera. That's where, you know, actual change gets made. So just... Like, has sort of been touched on a little bit is just voting with your money on the actual protocols, projects that are building things. And I think this regulatory clarity coming up in the next few months is going to be absolutely massive for builders and anybody actually trying to make something cool happen in the space.
[0:34:39] Dave @DCBK2LA: Well fucking said, Joe. For real. Yeah. I mean, that... And look. That's... If anything, that's like the... Like, that's the light at least at the end of the tunnel. What the fuck do we do now? Gold one. Go for it, bro.
[0:34:51] Voice G: Should everybody be a trader? Are we onboarding
[0:34:54] Voice L: people going to be
[0:34:55] Voice G: traders here? Are we... Is this is what is this what we're doing now? We're onboarding everybody with market TA and fundamentals that really don't exist because most of these companies are just bootstrapping their funds and doing extraction like pump dot fund is doing. Right? Is that what we're doing?
[0:35:14] Voice C: No. I'm
[0:35:15] Voice G: not... Like, and and voting with your dollars, yeah, I agree with. But if you're voting with your dollars, I'm
[0:35:20] Voice C: not saying we don't, you know, what people could take profit. Right? No. I'm not saying not to do that.
[0:35:26] Voice G: Right? But then what is the difference if you if you are extracting funds to pump fund extracting funds? What is the actual difference there? Isn't it still extraction from the ecosystem?
[0:35:39] Joe @JoeOnChain: Not if... Not not if we're not if we're putting it back into the ecosystem and pump fund is just cashing out. I I guess it it really just depends....
[0:35:47] Voice G: Pump fund pump fund, I'm saying, look. Like, pump fund will just take it out, build something else like these guys were saying just a minute ago. Build something else, another casino for everybody to go to to extract more again. So if you are doing the same thing, what makes you different from pump fund?
[0:36:05] Dave @DCBK2LA: Yeah. Look. And and at the end of the day, it's like like, the extraction, but on the scale that they're doing it is crazy. Right? I think, look, the education part... You're right, Goldwyn. At the end of the day, like, I'm not trying to educate people on fucking meme coins. Right? Like, if you're... We're out here trying to educate people on, like, the basics, the fundamentals, like, what people are doing to try and help them obviously, not even make the capital at this point, just hold on to the capital that you have. Right? So that's like... For me, I think that, like, what do... Like, what do we do now, though? That's my question. Right? Like...
[0:36:34] Voice G: My thing is Rajat Singh. Sorry. Rajat Singh. Does anybody follow Rajat Singh? Yeah. Bitcoin. Right? He's he's more of a Bitcoin maxi, but he's, you know, he's a market scout. Right? But he tweeted a tweet the other day. Right?
[0:36:46] Voice C: I've been telling people this shit for years. So he tweeted a tweet the other day. And he said, if you're taking profit into dollars, are you really taking profit when taking profit in this entire space means taking profit in Bitcoin from? So I don't really understand here what is the difference between the average person trading back into dollars and any scammer or pump dot fund? This is why Maxis call everybody scammers, by the way. Right? Do you understand? Right? Like, you want want want that, like, kind of a take on it. But my point is is if we're building this space, same like with the first thing I said when you was talking about the legislators, I don't need the legislators' permission to use Bitcoin. Do I? Do you understand? Does anyone in here? Does anyone ask their their local councilor mayor or anything before they put their money into an exchange or before they built a business that accepted this shit? No. Do you understand? So why are we always clamoring about this shit? We're supposed to be taking the power away by voting with our dollars, by taking our dollars.
[0:37:50] Voice F: Well, and you know,
[0:37:51] Dave @DCBK2LA: that's why I agree.
[0:37:53] Voice C: Invested because I'm not saying we... Anyone should invest anything because you can earn shit. Right? So I'm just not saying anyone... There's no investment advice whatsoever. But I'm just saying if we're voting with our dollars, ain't we supposed to be, like, burning the dollars for the new money that we can all control ourselves and stuff like that? That's why we're concerned about taking profit. Yeah? That's why
[0:38:15] Voice F: why I was saying we gotta go out there and tell people about the good ones. And see, I'm helping people find out what to vote with... Vote for. Right? If they don't even know what to buy, they're gonna buy the wrong shit. If everyone's trying. There's so many influencers out there trying to get rich quick, creating these random coins or pushing these random coins that are $5.10 k. And these newbies are getting caught up. They don't know better. We have to go out there and tell them. That's what I've been doing. I'm only five days into livestreaming on TikTok. Already got over a 100 live viewers. Trust. I'm gonna turn it into thousands, and we're gonna blow up. And I'm gonna help really help change, you know, the the crypto scene by actually just being a foot soldier. That's the way to
[0:39:02] Dave @DCBK2LA: I love it. Landy, I
[0:39:05] Voice C: wanna hear your numbers.
[0:39:06] Voice G: Been a foot soldier for ten years, my guy. Just one response quickly. I've been a foot foot soldier for ten years, my guy. Right? And the one thing that I could tell you
[0:39:13] Voice C: is everything that's happening now is the same shit that happened in ICO season. Do understand what you're say? Ain't no different. It's just more on a major scale, and there's more people that are here baffled while the people that actually have any sense, you know, in the long run, yeah, do exactly what Rajat Singh said. They take their profit in sacks. Bottom line. Doesn't matter hedge funds, whatever you wanna talk about. Like, the people that are extractive take their money in USD. The people that are not extractive take their money in stocks. That's it. Bottom line.
[0:39:48] Voice F: Oh, yeah. For sure. That's that's why Bitcoin's king. You know? Great
[0:39:53] Dave @DCBK2LA: points, goal one. And, Saga, thank you. Yeah. Landy, go for it. Give me the numbers.
[0:39:58] Landy @CryptoLandy: Bravo, by the way, because I always take profits into stats because there's only so many in existence that will ever be in existence, and there's only so many in circulation. And one of the... I I wanna preface what I'm about to say is one of the reasons why we see such outsized moves is because the supply of circulating Bitcoin or the Bitcoin circulating supply is much lower in terms of liquid supply, not being held or locked up or custodied at Coinbase, institutional custody services or elsewhere. It's going off of exchanges, makes what I'm about to tell you... It makes it very easy to move the market, especially when we have extremely high leveraged markets right now. So just to give you a point of comparison, the first high in 2021 at $65,000 open interest in the market. So all futures contracts open interest was $21,000,000,000. K? When it made its high at 60, $9,000, it was at, just shy of 18,000,000,000. And to put that in perspective, where we are on the highs more recently is at $35,000,000,000, and we dumped down to $28,000,000,000 of open interest. And that's on Bitcoin alone. So we're dealing in... With exponentially higher leverage with lower circulating supply, making it much easier to move the markets when there is liquidation cascades to either side, the the downside and the upside. And now this is where I was mentioning Ethereum. So Ethereum isn't even near its all time high. And Ethereum in 2021, when it reached 4,800, had it... Had... Its high on open interest was $9,680,000,000. When Ethereum was just at its local high more recently, its open interest was at $19,000,000,000, $10,000,000,000 more open interest, and it wasn't even... It it... It's, you know, 7 to $800
[0:42:00] Kool @koolcryptovc: a week.
[0:42:01] Dave @DCBK2LA: Can you define open interest for everybody real quick?
[0:42:04] Landy @CryptoLandy: So opening interest is the amount of, leverage being used in the markets for futures contracts. It's the amount of money in those futures contracts. It's being bet, and that's how much that you're losing via liquidations and stop outs and stuff like that to either side. So it's it's how much money is being bet in the markets on the future side of things is essentially the way to put it. That's my my basics for the audience. We could get it deep into the weeds at some point if we ever really want to. But the the crazy thing is we're at exponentially higher... We're utilizing... We're seeing exponentially higher, leverage in the markets with, less circulating supply. Because you gotta remember, even Ethereum is getting getting sapped out to the spot ETFs and stuff like that. I know that there's... The the supply works a little bit differently these days than it used to, but it... It's it's much easier to move a market when it's highly leveraged and there's not much circulating supply available on the exchanges. So when we see these extreme... Extremely volatile moves, they're only gonna get more volatile to the upside and downside until at least we start seeing inflows back into these exchanges and people stop ratcheting up the leverage. And, you know, they're risking, you know, in in many cases, their entire account to to, you know, 20, 50, 100 x, or a 125 x because we've got exchanges that will allow you to go even higher than that in some cases these days. And it's... People in the market are taking advantage of that, disparity of open interest and the supply available on those exchanges to move the markets in lower liquidity environments like the weekend when there's news. Even though, you know, you saw a lower high come in on Friday, it was confirmed. This is a lower high with a lower low that was already in. We have the makings of a reversal. Somebody comes in over the weekend, tariff news, dump it. Just market wide. Dump it. Dump it. Dump it. Right? So whoever those people are, whether it's multiple, whether it's, you know you know, what... Whatever it is, whatever we wanna make up in our heads because there are a lot of people with theories. But in reality, it's, nothing that we've seen in terms of Bitcoin has really changed in terms of structure. And where the concern is with all of this as it relates to the pump funds of the world is pump fund is sapping liquidity out of one of the main catalysts for alt season, which is Ethereum. And even if it were to flip Ethereum in terms of market cap, it's so extractive, whereas Ethereum didn't operate in that way during alt season because of the total value locked on Ethereum. You'd see the stable start flowing into all of the alts. Ethereum, obviously, for buying Ethereum, and then all of the other alts, you'd see Bitcoin liquidity rotation over as well. Then we kick off alt season when we just got a massive low in... On Bitcoin dominance. Alts are getting killed. Meme coins are getting killed, and people are walking away with money from Solana, basically, and a lot of money from Solana because they are just extracting it right out to stables and then off ramping to to to dollars or fiat. And how do we solve that? Education, I don't think it's actually gonna be solved, though, by us. I think that what's gonna happen is we're gonna see this solved by traditional market players wrapping products, offering them in easy ways, banks getting involved and putting it on their books now that they can hold on the asset side and offering products through the banks that are FDIC insured. And that's what DeFi is gonna have to contend with is Jerome Powell and the banking cabal getting into this now. I think that's a big sea change, and, I don't exactly like it. But this is where we are right now.
[0:46:03] Voice F: See, that's what I think is funny is, like, it's the most obvious answer is the solution. Right? It's just go and teach people. Like, that's why we have schools, and that's why, you know, I... That's why I think going and genuinely just doing livestreams, going and doing these spaces and other platforms, this is what's gonna really teach people of that or then regulation's gonna have to do it. Right?
[0:46:25] Voice C: I mean, it's gonna be...
[0:46:26] Dave @DCBK2LA: It's got to provide clarity, but check this out. Listen up. PumpFund, a Solana based meme coin launchpad has generated... And I'm still looking these numbers up because they're not that readily available. I'm sure I can go digging through SoulScan, but whatever. Limited time. Generated substantial revenue since inception. By the way, PumpFund's only been around for, what's it, like, a... Literally a year. January was its one year anniversary. As early as January... Hold on. As early as January 2025, the platform has earned over 2,000,000 soul. That's almost $400,000,000. In November 2024, they achieved a record monthly revenue of $93,000,000, marking a 207% increase from October. Highest single day revenue was $14,000,000. That's crazy. Since its launch, they facilitate the creation of over 5,400,000 tokens and generated over 2,000,000 SOL in revenue, worth approximately $418,700,000 at current prices. This is... If... Bro, this is the fucking problem. Like, I don't even need to see how much they extracted. If they extracted half of that, This is it. Because now you're giving the whole market the illusion, this is where the money is, and it it it isn't. It's not where the money is. This isn't money that you have access to. And I think people are like, oh, I'm gonna go do this on Solana and this... That's where the money is. It's not. It is not. You have no shot. This is... The money is on pump... Make no mistake. The money's on pump fun. Like, Solana is the ecosystem. Cool. Where is everything that was supposedly being built? I... And I was the one saying it, bro. I went to Breakpoint. I'm like, they're building a lot of shit. No. Don't see it.
[0:48:09] Kool @koolcryptovc: They they... They're still being built, man, but it's being drowned out by the Ponfund hype, man. It's it's... And and that's not... That... I I don't think it's a good thing, in my opinion, because, you want your chain to be known for, you know, RWAs and AIs and NFTs, a diverse DeFi, but not just gambling. Right? And and like you said, if all your revenue... Most of your revenue is coming from one project. One, what happens when The US says... Because both funds already banned in already in many countries already. Imagine multiple country... Multiple governments that say, hey. You know what? No more pump fund. That would cut the the revenue being made on Solana. Look. To be honest with you, look. It's a game. The game you play right now is what it is. What I say is I don't think it's sustainable, but we'll see what happens. I believe when the regulations come, what was the security... What what was was not a security. When that happened, that's why they're make this clearer. All these meme stuff was born because of Gensler. Gary Gensler really screwed the market structure for a while. Now we we we just waiting for these shit to get fixed, man. But I I don't... I I... There's no fixing this shit for right now. Not anytime soon. I... It's gonna be like this for a long time. But like you said, the money on on PoundFund was made at the beginning. If you go into to PoundFund the first two weeks for three weeks, first first month, then you're fine. But trying to get into it now, you're just gonna get slaughtered, man.
[0:49:51] Voice C: So, really, it should be called dump.funding, ain't it? Because they've pumped it and they've dumped it just exactly the same as every other pump pump and dump. The first up was the dump, and that's it. Ain't it? You know what I'm trying to say? Bye bye. For
[0:50:04] Dave @DCBK2LA: real. Like, that's it. Like, it it has never been more clear to me now that, like, this is the black eye on crypto. Like, yeah. Okay. Gensler and everything else. It's fucking pump fun, bro. I mean, I said it from the jump. Like, I
[0:50:18] Kool @koolcryptovc: I mean, I don't wanna... This is not the
[0:50:19] Dave @DCBK2LA: I told you so, but, like, I hated meme coins. Go figure. I tried to write... I tried to get on board, tried to make it happen. But I'll tell you guys this, like... And and I'm still trying to make shit work. And I'm and I'm actually trying to build shit, and we've built shit. And you... And I'm still not getting traction. So if somebody that's putting in the effort and you guys see me out here every single fucking day, If I'm still trudging through the mud and I launched the token, like, imagine how, like, people... Like, nothing is real over there. It's literally, like, 5,000,000 tokens. It's nothing. It's gonna be the fucking the Golden Nugget Casino in Vegas with fucking $2 blackjack on a Saturday night sitting next to a 75 year old woman smoking fucking Newport's, bro. That's what this shit's gonna be. And you're gonna look around and be like, I remember this shit is amazing back in the day. You should've seen me in 2024.
[0:51:13] Voice C: I should've invested in casino chips.
[0:51:16] Dave @DCBK2LA: Facts.
[0:51:17] Voice F: Oh, exactly, man. I I noticed it right away. I I left Ethereum. I went to Solana. I started losing money. I was like, yo. I gotta change it up. I went back to Ethereum. I started making life changing money again. I was like, okay. Something's wrong here. Fuck Solana.
[0:51:32] Dave @DCBK2LA: I mean, Joe, go for it. I know you had your hand up there, but, like,
[0:51:36] Joe @JoeOnChain: I mean, I I guess this space is just so messed up. But just to play devil's advocate, I mean, it's challenging because the space has evolved so much in the last year. And I think, you know, just to bring things a little bit closer is, like, you know, we all know we're in an attention economy. And not that long ago, like, less than a year ago, this space was so bearish overall. There was just not a lot of liquidity that everybody was fighting for this little tiny bit of liquidity and trying to extract it from each other. Literally, not that long ago, no normies were actually coming on here. We're all talking about, oh, we're gonna onboard normies. We're gonna onboard normies like this and that. So, you know, it was just... And by nature of an attention economy, you you know, that's sort of, like, where memes came in. They're they're really just trying to grab people's attention and things like that. And utility projects, like, of us talking up here, you know, we're actually building real shit. People just don't care. Like, people just... Unfortunately, it's just boring. You know, a lot of that stuff is just unfortunately boring to people. So until it's not boring, until, you know, more money comes in to utility or whatever you wanna call it, you know, things are just gonna stay this way due to the nature of an attention economy. So I I... It's it's just very convoluted, you know, where where we are in... At now. I, you know, I don't love pump fun, but can I say that it is bad to make it easily accessible for anyone to be able to create their own coin? I don't think that's necessarily a bad thing, you know, to make it easy for people to access the ecosystem. It's just sort of how it's been used, of course, is horrendous, but it's a attention economy, not a lot of money, and a lot of degens in a in a small sort of area. So I I think that's sort of what led to this. But, yeah, pump fun bad, but it... I can't really blame it exclusively on them.
[0:53:23] Dave @DCBK2LA: Joe, I'll say this. Like, I'm... Right. I'm not... I mean, yeah, I kinda do wanna place all the blame on them if I'm being honest. I'm looking at it fucking... But, like, here's my thing. Right? It's not like you're not going to the site and there's, little paper clip in the bottom being like, want a tutorial on how to launch your own token and we could teach you about how this works? No. It's literally, text box, text box, text box. Name, ticker, quantity, launch. That's it. Picture. Sorry. I forgot the logo. My bad. Four steps. Like, there's nothing being taught there. Like, there's nothing that's... Like, you're... This is one reason and one reason only. That's it. It it is literally saying, come here, create some shit, and let's see if, like, that shit is actually going to take off. The one that I saw recently, I'll say this much to this credit, I saw that the Vine founder is trying to bring back Vine, and he's actually doing something. Right? Like, that dude out here, I... Like, like, bringing it, like, back a tech or whatever. That's cool. Somebody is actually out there doing something. But 5,000,000 tokens. What what do... Like... But... So how does this get fixed? I mean, I guess it's only people's habits. Right? Until the degens, the serious degens on Solana or anywhere.
[0:54:38] Voice C: Gonna I'm say I'm say prefix. I'm gonna say prefix real quick. Right? So so again, like, watch jokes about this shit for me. Just personally for me. Right? It's like pump.fund is a million of these. Right? In 2017, when ICOs were popping, like, people were doing, you know, any kind of white paper, one page white papers and whatever. Right? Yeah. Same thing was happening. Right? People were just jumping in. Oh, yeah. You know, like, whatever. Was just creating anything. No different. Right? There was a site. Yeah. And if you if you if you if you obviously been around for a minute, then you remember this site. There was a site called When Lambo. Yeah? Right? That's where... This is where... Like, after this is... After the When Lambo ship blew up. Right? And it was like... It became the new scene. Right? Yeah. There was a site called When Lambo. Somebody created a site that basically said throughout the the... It's a one page of site, and it basically said from top to bottom, this site doesn't mean anything. This token doesn't do anything. All it says is for you to invest your ETH and your Bitcoin so I can buy a Lambo. And a 100,000 people dropped ETH in that shit, fuck. Do you understand what I'm trying to say to you? Yeah? Right? So what I'm saying is this shit don't surprise me. Like, anybody that's been around, like, for a minute, this shit don't... It's just that same level of degeneracy. Yeah? Like, a thousand x. Right? The second point of what I'm gonna say that that ties into this, right, is the FTX thing. I know I've said this before in in this space. Right? That FTX was something like, if you were here very early and you're doing your due diligence and you learned the so called right way, then when FTX popped up and then, what is it, six months, nine months later, when the... As soon as the government started, you know, acting funny with crypto, they were like, we're only accepting regulated investors. Yeah? Accredited investors. Yeah? That was the massive... It's the biggest red flag that anybody... Like, you could... Bro. Like, you could... At that point in time, SPF already came out with the red flag wrapped on a red tie, bro, red hat, bro, looking like Ronald fucking McDonald, bro. Do you understand what I'm trying to say to you? And everybody was still like, yay. Yay.
[0:56:53] Dave @DCBK2LA: Let's go. Let's go. Let's go.
[0:56:55] Voice C: Right? Solana, yeah, was born from FTX. Yeah. Right? We know this. Right? Solana is a birth product of FTX. Why would you fuck with it? Because people see number go up. They can also do what the big players are doing and extract some dollars because that's what it's all about, remember. Just extracting dollars. That's why we're all here. Yeah. Right? And then, then we're in this space now, like, you know, when it's happening again, saying, how do we fix it? Fix the money. Fix the people. Fix the world. Simple. Yeah. Right? It's very simple here. Right? It's it's very simple. But most people, again, we come here, we're gonna earn loads of dough, man. We're gonna be the next billionaires, Gwen Lambo, all of these fucking sayings, bro. Yeah. But when it comes time to do it, people are talking about, let's ask the government for permission. And, hey, let's, let's, see how we're gonna fix the problem that we're doing, which is exactly the same thing we're doing. Like, how do we fix these people extracting more money than we we can extract? Sounds Sounds like like fiat problems to me, my guy. Do you understand? Sounds like fiat mindset to me, my guy. That's the only problem. The only problem is... And you've heard me say this again lots and lots of time. We we... And I've heard it today. You know, we should educate people. We should tell people. The Nomis were gonna come in. The Nomis are... But everyone wants to educate the Nomis like they're traders. Come in and make money. Come in and invest in this one because it's low. Invest in this one because it's doing that. Invest in that one. And then Nomis are mad confused. And then everyone's in the space again. Oh, yeah. What... You know, how do we fix this? Keep it fucking simple. The point of this fucking space is to take the power away from the fucking 1% that that are now using your own hype against you to extract your dough, yeah, and extract all of this solo, whatever the fuck else you're holding. Right? And, ultimately, they are buying Bitcoin with it. Do you understand what I'm trying to say? Right? So, again, as I said, if most people, which is very hard to do because we all see dollar signs and we go, yeah. Yeah. Yeah. And I've done it before. Right? I was here when when I didn't understand that it was all about Sats, and people were just like, oh, yeah. Litecoin and whatever fucking coin. It was Liqui and all these mad little exchanges, all these mad little Chinese coins. What's happening before? All of this has happened before. The only thing that never changes is people always go, yeah. Let's do everything fun. Let's all crypto hype. Blah blah blah blah blah. And then later on, uh-huh. Now we're down in the dumps, it's all bear market. And, uh-huh, what do we do? And let's wait for the regulators. No. That's not the fucking point. Like I said, the point is we're changing this shit. So if we're changing this shit, get on board with changing it. Don't get on board with everybody else because your friends over there and you made a little bit of dope, bro. Do you understand? Because, ultimately, the people are here to change it are making more dope over time anyway. So bottom line bottom line, and I'm not saying none of this, by the way. You guys know me. Yes. I'm into BTC and red, but I'm not saying this to be a Bitcoin maxi laser eye guy. I'm saying this because that's what the fucking stats say, ain't it? Read the fucking numbers, ain't it? Simple. Fucking simple in it.
[1:00:09] Voice L: Yeah. Yo. I wanna go back to the
[1:00:12] Dave @DCBK2LA: old days where we used to rag on Solana and be like, your chain used to go down every five minutes. Remember those days? How did we all of a sudden start drinking the Solana fucking pump funk Kool Aid, bro?
[1:00:24] Joe @JoeOnChain: That What the That was crazy to watch. That was crazy to watch, bro.
[1:00:29] Dave @DCBK2LA: Like, this is the biggest Cinderella comeback story. Like, I mean, if you wanna call it comeback, then... I mean, maybe there's a really bad ending to this. Maybe the story's still going. Yo. These Solana founders better snipe this pump on shell. No. Maybe they shut this shit down. I mean Talking about Solana,
[1:00:46] Joe @JoeOnChain: you say get booed off stage. You were called poor. You were called a little kid. And although those things were probably true, you know, speaking as a true soul OG, it did feel good. So it's funny to see how far things are coming. Gold, to your point, I really think, you know, keep it simple. Stack, stats, stats. OGs will know in the space. We even used to, like, I don't know, maybe, like, two cycles ago, just compare everything in stats, like, or stats. Things were measured in stats, like, in US dollars....
[1:01:12] Voice C: Fucked it.
[1:01:13] Joe @JoeOnChain: Yeah.... Fucked it, mate. So so I think we'll come back around to that eventually. People will see, you know, USD is the soft money. That is the fake money. That is the meme coin. Sats are the hard money, and and we'll start, in my opinion, eventually start comparing things, not how much USDC is it worth. How many stat or stats is that worth?
[1:01:32] Dave @DCBK2LA: Yo. So check this out. Alright. Look at this look at the story that cool put up at the top. This is a United States representative, a congressman. Okay? US representative Michael Collins has continued to buy crypto. He just disclosed buying $15,000 in ETH and $30,000 in virtuals. He sold virtuals nine days later after being down an estimated 30%. He's bought numerous other cryptos over the last three months, and then he comments on his own post and says, in the trenches.
[1:02:03] Voice L: Cool. I'm fucking dead.
[1:02:05] Dave @DCBK2LA: Yes. I put a
[1:02:07] Voice C: I'm on a list of taking the piss out of everybody, bro. Trust me.
[1:02:10] Kool @koolcryptovc: Yeah. Yeah. I put a tweet up because it just it just it just shows very young, man. Like, people people want crypto. They want everything, man. Like, especially, whatever, politicians, whatever. People want this shit, and you could see it on chain. But, unfortunately, we don't have the liquidity to to drive up everything right now. I mean, I I mean, we're still... It's still in the high interest rate environment still compared to where we were four, five years ago. But, yeah, man, politicians are buying crypto. That's the... To me, that's the biggest bullet... The biggest bullish sign ever because whenever they stop buying, it just... It's game over. Because if you see how they trade stocks, once they start making money, they start posting this shit online, more of these senators coming there. Jesus Christ. They they go crazy for for making money, man. And and that's what that's what they do. So that tweet up there is is only gonna grow. More senators are I mean, you... We we all saw what... What's that chick's name, man? The the crazy trader. What's the name? Pelosi? Yeah. Pelosi. Right? We we all see what she does. We we... We're gonna have our own Crypto Pelosi in the future.
[1:03:26] Dave @DCBK2LA: You bet. CryptoPelosi. That
[1:03:28] Voice C: handle right now, bro. CryptoPelosi.
[1:03:33] Voice L: Go go get that shit, bro. That's a fucking... I mean, CryptoPelosi.
[1:03:37] Landy @CryptoLandy: Here's the problem. CryptoPelosi is gonna be the the bottom signal because they're gonna keep selling the lows. See me, poor Mike over here. Keep freaking
[1:03:46] Voice C: five five selling
[1:03:47] Landy @CryptoLandy: the lows. Crypto Pelosi. Just inverse Pelosi.
[1:03:55] Dave @DCBK2LA: Fuck. Oh, man. Good times.
[1:03:59] Voice L: Good times.
[1:04:00] Joe @JoeOnChain: This senator looks like a homie. You know he was at some barbecue when the nephews were telling him, you know, I got these things called meme coins or you know about Bitcoin. You know? This guy definitely... It it was over a fourth of July or something. It started dipping his toes.
[1:04:14] Dave @DCBK2LA: Leave my man alone. He looks cool.
[1:04:16] Voice L: I'm saying he cool. I'm he looks cool....
[1:04:18] Voice C: Guys. I'm sicing him.... Over there. Smoking a doobie.
[1:04:21] Joe @JoeOnChain: Yeah. Exactly.
[1:04:25] Dave @DCBK2LA: Exactly. Like, what did you say? He's talking about your...... Agents? What?
[1:04:32] Landy @CryptoLandy: Rep Mike rep Mike is over there talking about doing ketamine and staying all night... Up all night in the trenches and shit. What
[1:04:39] Dave @DCBK2LA: did you say? AI agents? I
[1:04:42] Landy @CryptoLandy: love it.
[1:04:42] Dave @DCBK2LA: What's up? Alright. Virtuals. They're like, yeah, motherfucker. Then he's like, oh, shit. Eight days later, I'm out. Like, that's when literally when the market
[1:04:50] Voice L: took a fucking tumble. That shit went from $4.50
[1:04:54] Dave @DCBK2LA: down to, like, fucking a dollar and 0.25. He's probably like, oh, fuck.
[1:05:01] Voice L: Where do I
[1:05:02] Voice F: did. I thought of something when you guys were talking about this. So, like, when there's something I noticed, a lot more people are aware of crypto now. And because of PumpFun and Solana, because of... Sorry. Because of the fact that that brought in so many people, they learned how to use hot wallets, and they they learned how to do all that kind of stuff. Right? So now when I'm going and teaching them about, like, Ethereum and other wallets and stuff, they know how to do it so much easier. It's like they already know how to do it. Right? They just know how... They just have to know how to find the right ones.
[1:05:42] Dave @DCBK2LA: But, Saga Saga, here's the thing, though. Right? Like, Moonshot, nah. They didn't. That's like... That... That's... Those days are over. Right? Like, that's a very limited class right now. Right? Like, that's the graduating class, and I'll give you that. Moving forward, like, nothing... That's no longer, bro. Like, Moonshot, all these... The way they're being onboarded, Apple Pay, Moonshot, Helio Pay, all this shit.
[1:06:02] Voice F: So Well, a lot of them are using Phantom Wallet. A lot
[1:06:05] Dave @DCBK2LA: if they were. Right? Like, yes. That's great that they're doing that. Amazing. The guy at my corner deli where I buy my cigarettes literally, like, shows me his phantom wall and be like, I bought Melania. No good. Down 3,000. I'm like, bro, what are you doing out here? Like, that's fucking crazy. And if you're listening, yo, shout out Abdel. What's up, bro? But, yeah, like, this is the thing, though. Yeah. They're they're... They might be using Hotmail. It's great. But from this point forward, the tech is at a point now where we wanna onboard these people, but they don't have to learn how to use the tech because we're we're always up here preaching, like, hide the wires, hide all this shit. Right? Like, that's what we're we're saying all the time. So it's like, this is a big catch 22 right now. Like, I... I'm genuinely thinking about this, and it's just like, we need to start, like, operation eliminate pump fund. Like, this is crippling my bags, bro. Like, this is fucking crazy. Like, enough of this. You know my you know my... You know how fucking rich I could have been by now? This is annoying as shit.
[1:07:01] Joe @JoeOnChain: I would be curious to see the flow. I haven't checked it out recently for pump fund, but I would imagine that velocity has slowed. Like, I I think, I hate to say it, but once we all have been rugged, like, a 100 times over, like, the... By the hundred and first, we're kinda like, hey. Maybe this isn't working out. You know? Like, I thought... And I I hear a lot less people grinding in those trenches and and more looking for other stuff. So I don't know if that's the solution. Just, you know, get rugged until you kinda stop being over there. I don't I don't know what it is, but we definitely have to stop. Just stop using that platform. Like, if...
[1:07:33] Dave @DCBK2LA: Send me the money.
[1:07:35] Voice C: Send me the money.... Place, man. What's that chick that that fucking was... Where where did she had that, the 100 man gang bang? She wasn't saying that at a 101. She was like, let's go again. Because then I get a thousand dollars shit. Yeah. That's just crazy. Bro.
[1:07:45] Dave @DCBK2LA: That Go on.
[1:07:46] Voice C: Degeneracy or all time high, man.
[1:07:48] presley.eth @Presley__eth: Isn't it crazy?
[1:07:49] Dave @DCBK2LA: Bro, they... If OnlyFans is restricting a female video who had sex with a thousand men saying that they couldn't verify the age of the thousand men, we are in a different era, guys. This is this is... Like, we are in a different place. Okay? Like, the norms are not the norms anymore. That's it. What you think you know, you have no idea. OnlyFans says, you having sex with a thousand men? No. What?
[1:08:20] Voice C: That doesn't make any sense.
[1:08:21] Landy @CryptoLandy: Yo. Do you remember the the... You you know the people token, the people's token? And then they... When it was when it was it was so low priced that they had to bundle it and call it a thousand people's token. That's all I could think of when you said a thousand, man. Bro. Thousand people's token. We should be trading this. That's that's the meme.
[1:08:40] Dave @DCBK2LA: Hey, man. You ever heard of seven minute abs? No. Think about this. Six minute abs, man.
[1:08:47] Voice C: All we gotta do is not call them stock splits.
[1:08:51] Joe @JoeOnChain: Yeah. Well,
[1:08:54] Dave @DCBK2LA: I don't know. Like, we we need to come up as if we're gonna be able to come up with this idea. But, like, go... And I think it goes back also to what you said where it's like, you vote, like, or how... All you guys were saying where it's like, you vote with where you put your money. Right? Like, that's how you decide, like, what happens. Right? Like, you... You're like, where you decide to spend your dollars and cents. But even still, guys, I never traded meme coins, bro. I was never a meme coin fucking trader. Like, my bags are still fucking... I mean, in Bitcoin, yeah, maybe they could have been a lot bigger, but fuck.
[1:09:26] Joe @JoeOnChain: There there was just nothing else.
[1:09:28] Voice C: Is opting out. That's the real utility here. That's all I'm gonna say. Yeah.
[1:09:33] Kool @koolcryptovc: Bro, it's coming to Bitcoin now. You saw this on Bitcoin now. Right?
[1:09:36] Dave @DCBK2LA: You saw this Bob, whatever the fuck his name is. Like, oh, yeah. Great.
[1:09:39] Voice L: It's coming to Bitcoin. Woo.
[1:09:41] Dave @DCBK2LA: No. No. I I literally said it against Stack City when it came to Stack. I fucking hated it. Get on board. Start building in public. Great. No shade to Coa. I love Coa.
[1:09:51] Voice G: But, like You all think about what Casey said, though. Right? Like, when he...
[1:09:54] Voice C: When Casey built ordinals and rooms here,
[1:09:56] Voice G: what what has he been going around saying? Right? If people wanna do shitcoinary stuff, at least they can
[1:10:02] Voice C: do now shitcoinary stuff on Bitcoin. So at least it's a hard money shitcoinary. Right? It's that you're at
[1:10:07] Voice G: least going to the casino with actual fucking dope. You're not turning up to the casino with casino token that you can only use in the casino that is gonna get rubbed from you before you...
[1:10:18] Dave @DCBK2LA: 1,000 people's token?
[1:10:19] Voice C: Exactly. Exactly, bro.
[1:10:25] Dave @DCBK2LA: Fuck, guys. A Viper. What's good? Viper's gonna be like, come over to base, bitch and
[1:10:29] Voice C: shit. But
[1:10:30] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: this conversation's hilarious. And you know what? I look at... Dave, you're right. Like, nobody traded meme coins before Pepe. Right? And Pepe started as a cultural significance. It's been on the... You know, been in the Internet, been flying around CT for a really long time. And then there was a fucking disgusting succession of tickers that come in behind it. Right? And I think we're just so diluted now. Everyone wants to be able to chase. If you think that, you know, the 100,000 follower account is gonna be giving you alpha, good luck to you. You know? I I think that that's what it boils down to. Like, if you wanna be exit liquidity, there's lots of opportunities out there to be exit liquidity.
[1:11:12] Voice G: If you wanna do
[1:11:13] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: some cool stuff in this space, there's lots of opportunities for that too. And where you choose to put your money is absolutely right. Where you choose to put your time is absolutely right. Well, I'm not interested in watching some 20 year old kids fucking stream about bullshit and run people. That's not my vibe.
[1:11:30] Dave @DCBK2LA: Yeah. It's... There's a cool
[1:11:31] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: tech out here, and, you know, that's what it is that I'm gonna support. So...
[1:11:35] Dave @DCBK2LA: No. We all get that choice.
[1:11:36] Voice G: The joke is why... But Pepe even the first Pepe. Pepe cash is the first Pepe.
[1:11:41] Dave @DCBK2LA: Yeah. Fair. Okay. Fair. Yes. How... Oh my god. We're going down the road? If you wanna go down the road, man.... What Pepe was the first Pepe Wait till the same
[1:11:50] Landy @CryptoLandy: as the and shit, guys.
[1:11:52] Voice G: No. I know. I know. But I'm just And the one with
[1:11:53] Dave @DCBK2LA: the market.
[1:11:54] Voice C: I'm just saying. You know, I'm just saying it's the repetitive nature. I'm saying. You know, I'm saying what I'm trying to point out is the repetitive nature of things in it that, obviously,
[1:12:00] Dave @DCBK2LA: if you We know. We know.
[1:12:02] Voice C: Signed up. Yeah. You know, you can make some money or Right? But you're lack of...
[1:12:06] Dave @DCBK2LA: No. Chase those derivatives.
[1:12:07] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: That's where the money's at.
[1:12:08] Voice C: Yeah.
[1:12:08] Dave @DCBK2LA: Yeah. So... Have you normalized meme coins? Guys, in all seriousness, like, there's meme coins and meme coins and meme coins that are billions and billions. Have we normalized, like like, do we make this... Do we normalize, like, meme coins? Like like like, peep to... Into... Like, making people believe that these are decent investments?
[1:12:27] Joe @JoeOnChain: Like I
[1:12:28] Voice G: have that's crazy. To remind some Maxis the other day in a Maxis space,
[1:12:31] Voice C: yeah, right, who was, like, talking about me and Quiz. I had to remind them that Bitcoin itself is an actual meme for the fiat system. That... That's where you get the whole fucking magic Internet money joke from. Right? It's memeing the entire system. Like... So, yes, joke still. It's just all become that, though. It's all become... It's all memeing the system now. Right? But some things are just memeing for people to get money. Right? And that's
[1:12:58] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: And I I think the phrase meme is too loosely used now. If you have to give me the ticker, that's not a fucking
[1:13:04] Dave @DCBK2LA: meme. Facts. Exactly.
[1:13:08] Landy @CryptoLandy: Piper with the bomb.
[1:13:11] Dave @DCBK2LA: Yo. Give it to him, brother. If you gotta give me the ticker, you're not a meme. Presley, welcome. What's up?
[1:13:17] presley.eth @Presley__eth: What's up, Dave? What's up, Cole? Great conversation. I just wanted to add, you know, people talk about pump fun, and they say that it's this fate... The fair launch pad. That's how they advertise it. But we all know it's anything but fair with all the pre allocations. It would be interesting if, like, someone... Like, a few people were to track the wallets of all the losses instead of, like, the two people that showed that they made millions of dollars. I think it would really shine a light on the negative side, the 99% of the people that use pump fund. Because like you've always said, Dave, people, they they don't post their losses. Everybody posts their wins, but nobody posts their losses. And there are so... There there are way more losses in pump fund. So it'd be interesting to see people posting that.
[1:14:03] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: Base has a tool for that, but... Sorry. Go on.
[1:14:06] Joe @JoeOnChain: Really? Yeah.
[1:14:07] Dave @DCBK2LA: We used to
[1:14:07] Joe @JoeOnChain: be... Yeah.
[1:14:08] Voice C: Me.... Campaign against pump fund here.
[1:14:14] Dave @DCBK2LA: Presley, you forgot the point nine. You forgot you forgot the point nine. You said 99%? It's 99... Literally, that's the 99.9% of the people are at losses per Cool's... Yeah. Earlier... Yeah. Fucking Jesus. Great points, Pres. Landy.
[1:14:30] Landy @CryptoLandy: So here's the... The funny part is even the winners in, in those ecosystems like Solana, they're... In pump funds specifically, even those winners who are are that point 1% that are winning, they, in aggregate, are making next to nothing compared to PumpFund themselves because there's nothing really fair about having a bonding curve that everybody's contributing to where they're not actually getting any portion of the fees that are coming out of the liquidity pool. When they're the ones getting the liquidity pool fees the entire time, whether it's a rug or not, they're pulling in bank. Bank. You can make a $100,000,000 in a couple of trades, and you're still not touching pump pump on themselves, which is why they've been off ramping this entire time because those lawsuits are starting to pile up on the back end there. And I think... I'll be honest. And I participated in bonding curve stuff. It's always bugged me that bonding curves, platforms that do this, they figured it out before I did. You can just have them go spend all their money, and you you move the liquidity pool over and take all the fees. And then you have no liability. Like, hey.
[1:15:44] Voice L: I
[1:15:44] Landy @CryptoLandy: didn't run the project, but I'm making all this money. Thank you. Bye bye. So, yeah, I'm not... Never really been a fan of it. Yes. We know friends that run these platforms that are fair people, that are good people, that aren't there for the extraction and stuff like that, and actually do provide tools to help ferret this stuff out. But still, that's what these are. We're gonna see more of them. Get used to it. You're gonna see it on every platform, and they're already on every platform that is popular anyway. It's just that Solana has the narrative. They have the shit coin casino narrative. Everybody had... It goes there because the volume is high and the liquidity is low, and they only look at the volume.
[1:16:26] presley.eth @Presley__eth: Yeah. You're absolutely right, Landy. The the real winners are the creators that... Of the platform itself.
[1:16:34] Dave @DCBK2LA: Facts. Public service announcement here. Hey. Sorry. We'd like to make it a point to say that at no point on all things crypto this evening, were we saying that we do not like meme coin launch pads? We preferably like Sunpump who signs Dave's checks. We just don't like pump fun. Thank you. Thank you. That was a great disclaimer.
[1:17:00] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: There there is... And great points, Landy. There... There's opportunities out there to even revenue share with some of these. Right? And it's not the casino that's doing it.
[1:17:08] Dave @DCBK2LA: Yep.
[1:17:10] Landy @CryptoLandy: Oh my god.
[1:17:11] Dave @DCBK2LA: It's crazy. Pres, what is this story you sent me? XRP's led... Ledger is back online. The XRP ledger is now fully operational after the recent halt.
[1:17:17] presley.eth @Presley__eth: Yeah. I don't I don't know exactly. There's still there's still information coming out. But, yeah, I guess it was halted for a little while. I think it's backed up. Think it's
[1:17:27] Voice G: got bigger problems than that. They need to go find them 32,000 blocks and stop worrying about everything.
[1:17:32] Landy @CryptoLandy: Oh, man. I I I got set up and pulled into a into a fucking fight with XRPers last night in a way that was just silly.
[1:17:42] Dave @DCBK2LA: You took on the army?
[1:17:44] Landy @CryptoLandy: Well, there's... Did you start... Yeah. I guess there's, like......
[1:17:46] presley.eth @Presley__eth: Remember that you hold the XRP, Randy?
[1:17:50] Landy @CryptoLandy: Well, here's the thing. Is is, like, I I hold XRP. I freaking have a validator in my freaking... I have a validator that I'm running, and it's not mine. I don't own the validator, but it's in... With a bunch of Bitcoin miners. It's in one of the racks. So, like, I... I'm very familiar with XRP. I've been holding XRP for a long time, but I got baited into a conversation with them only for them to tell me how they're... How it runs so well. And I saw the halt earlier, and I was like, oh my god. I wanted to die because of what I had already said to them. How about those 204 validators and you can't even run your network? But... Yeah. No. Don't worry. You're fully decentralized. Anyway Wait
[1:18:34] Voice C: a minute, Lendi. Lendi.
[1:18:37] Voice G: Lendi. Just let's just think about this
[1:18:38] Voice C: for a Everybody just stop for one second. Yeah? If your blockchain has no genesis block, how the fuck is it decentralized?
[1:18:50] Landy @CryptoLandy: Well, you know, it's it's it's it's mathematics, man. It's mathematics. It's mathematically decentralized. And if we have we have validators and you have to have 80% consensus, then it's mathematics. And the mathematics don't math on the math.
[1:19:02] Dave @DCBK2LA: Yeah. You're missing the point here.
[1:19:04] Voice C: Banks love it. So because the banks love it and this whole space is against the banks, like, you know, it must work. It must be the new thing.
[1:19:11] Dave @DCBK2LA: Guys, you're missing the point here. Okay? Listen to the point. The point is we just got done saying, remember the good old days when Solana's chain used to go down and... Yeah. Great. And now here we are with pump fun. You want the signs? Who's starting the pump fun on the XRPL ledger right now? It just went down. I know bicycles when I see it. Guys, you're not getting alpha like this in any other space. I don't wanna hear it.
[1:19:35] Landy @CryptoLandy: True. I think actually long
[1:19:37] Voice G: We just we just lost the the first 32,000 candles. The the project has been robbed by some unknown actors.
[1:19:46] Dave @DCBK2LA: It's fine. We'll start another one. Yo. This is craziness. This is wild.
[1:19:52] Landy @CryptoLandy: It back. Run it back, Dave.
[1:19:54] Dave @DCBK2LA: Bro, I'm literally looking at this, and I'm just like, oh my god. This is Solana vibes of, like, 2022. People were like,
[1:19:59] Voice K: hey. Solana.
[1:20:00] Dave @DCBK2LA: And they were just like, what? Like, yeah. Like, your train goes down, like, 10 times in a month. And it's just like, so? Like, we're still decentralized. Okay. Alright.
[1:20:10] Landy @CryptoLandy: When was the last time Bitcoin was down? Just wondering.
[1:20:13] Voice C: Freddie New posted this the other day. It was down for... The longest time I that Bitcoin was down for was, like, twelve hours. I think it's only been ever down twice in history. The last time was all the way back in, 2013, I think, in that May 2013. Yeah.
[1:20:28] Landy @CryptoLandy: Yeah. And when they did the reorg. Yeah.
[1:20:32] Dave @DCBK2LA: Oh god. Now all these things that it's like... But, like, the meme... I feel like meme coins are, like, a disease now. They're spreading. Right? Like, cool said, it was, like, now they're on every chain. Launchpads on every chain. Except I went to Tron one.
[1:20:43] Landy @CryptoLandy: What are the names of the memes, though, David? I'm gonna call you David from now on. And maybe... Can you look like a David with those glasses on?
[1:20:50] Dave @DCBK2LA: I think I'm in trouble, bro. I mean, I do. Right?
[1:20:53] Voice M: I like
[1:20:53] Landy @CryptoLandy: You look like a David. Like, and cool with glasses on now, and I'm moving Hey. And shit.
[1:21:00] Dave @DCBK2LA: Cool. Apes and sloths. Ride together, baby. Let's go.
[1:21:02] Voice C: You expect him to see Dave sitting in some wind back chair, ain't it, like, with fucking glasses on reading a book about Solana?
[1:21:10] presley.eth @Presley__eth: Or deep with Solana?
[1:21:13] VIPERɳϝƚ🖍️📺 @VIPERnftMFER: Dave's chair has rivets.
[1:21:15] Dave @DCBK2LA: My my my khaki's right above the ankle with the fucking shoes. You know what I mean? Like, kicked up on the desk, fucking cardigan.
[1:21:21] Landy @CryptoLandy: Smoking a cigar.
[1:21:23] Voice C: No. He's the sloppy leather in the library.
[1:21:25] presley.eth @Presley__eth: No. In Newport, Landy.
[1:21:28] Dave @DCBK2LA: Oh, hey. Hey. Hey. I'm not the old lady in the fucking casino. Leave me alone. Alright?
[1:21:31] Landy @CryptoLandy: Well, I used to smoke Newport. So... Yeah. Anyway, I was that old lady in the casino.
[1:21:36] presley.eth @Presley__eth: Remember the old lady that comes
[1:21:37] Voice K: into the spaces? What's her name?
[1:21:40] Joe @JoeOnChain: You know? Oh, shit. What's happening? What's her name?
[1:21:44] Voice C: It's
[1:21:44] Dave @DCBK2LA: Do... What is it? Doris? What's her name then? That that I
[1:21:47] Landy @CryptoLandy: think it was Dolores. Was it Dolores
[1:21:49] Dave @DCBK2LA: or Dolores? Dolores sounds like an old, like, old lady, but good name. No no offense if anybody's named Dolores. I'm just saying. Sorry.
[1:21:55] Voice C: Mom is named Dolores.
[1:21:56] Landy @CryptoLandy: Sorry. The old Dolores' out there that smoke reports.
[1:21:59] Dave @DCBK2LA: Love you to all the Dolori.
[1:22:02] Voice C: I said to to Dolori.
[1:22:06] Dave @DCBK2LA: Alright. Wait. Yeah. Let's get serious. This is a news program, goddamn it.
[1:22:09] Landy @CryptoLandy: Oh, okay.
[1:22:10] Dave @DCBK2LA: Cool. Anything on your timeline that maybe we might have missed in the last ten minutes that we got on the show? Anything that we should we should be going over?
[1:22:16] Kool @koolcryptovc: Yeah. Nothing. Nothing, man. Just... Same old same old. I think today, mostly, it was kinda quiet day overall. A lot of people, Watson, Elon, Elon Musk take on the US government. Democrats are freaking out. Yeah. It's it's a crazy time to be alive, and they're watching how wasteful the government has been with our money, man. It's disgusting, man. Well, yeah, that's what I'm looking on the timeline. It's pretty crazy.
[1:22:42] Dave @DCBK2LA: Oh, I'm gonna read off the list at the end. I'm gonna compile it right now. You guys are fucking gonna laugh your asses off. It is the... Like, how do shrimp run on a treadmill? And it was like, what? People said, we said $3,000,000 to figure out how shrimp run on the treadmill.
[1:22:54] Landy @CryptoLandy: I made a lot of money on that coin on Solana, by the way.
[1:22:57] Dave @DCBK2LA: Shrimp on treadmill. This is bunch
[1:22:59] Voice C: of stuff, Bill. Yeah. I made
[1:23:00] Dave @DCBK2LA: a lot of money on that. This is this is crazy talk. Landy, look through your timeline while I assemble literally what is the most ridiculous spending in the history of the world list. Anything else that we missed, Landy?
[1:23:13] Landy @CryptoLandy: I I I don't think we missed it. I think we've talked about this, but I did wanna let everybody know because I'm actually excited about it. And I have friends that are working on this, on the network, and that's Barachain, is gonna be launching on the sixth. So, if you're, you know, already involved in the ecosystem over there, if you're looking to get involved, just keep an eye out. It's actually got a cool structure. You know, it's a proof of liquidity. I I do encourage people to go look at, look at it because one of the big things that we have in all of these ecosystems or the major problems we have is liquidity. And this is a liquidity focused chain where the network is built around liquidity from its very core, and that is a really cool thing. Some of my friends that are building stuff over there, I think they got, like, some cool, cool shit coming in. If that is liquidity focused, then I think that that helps alleviate a lot of the problems that we see in many of these ecosystems where, you know, you get these really high market caps, and then you look at the liquidity and it's next to nothing. One person sells, the whole thing goes kaput.
[1:24:21] Landy @CryptoLandy: Other than that, I've I've been out and about. I just need to know who's been stealing all the mailboxes and shit.
[1:24:27] Dave @DCBK2LA: Yeah. I mean, I'm literally looking at some of this stuff. This is this is crazy. I'm a get, I'm just gonna read all five because it's still compiling, by the way. Okay? Here's essentially what some of the expenditures that, your hard earned tax dollars, and you're... Like, literally, some of these Democrats are still out there being like, this is crazy, bro. We cannot let Elon take over the government. Chuck Schumer's like, taking over the government. Yeah. When you wanna ask, yo. You're lit... When the American people are saying, we're footing this bill, we'd like to see... We're footing this institution. We'd like to see where the money is going, and they say, uh-huh. Uh-huh. I'm sorry. What? You're literally... You have senators asking. Ready? $70,000 for the production of a DEI musical in Ireland, $47,000 for a transgender opera in Colombia. The good old transgender... You gotta love that one in opera in Colombia. 32,000 for a a transgender comic book in Peru. 2,000,000 for sex changes and LGBT activism in Guatemala. I mean, we couldn't fund... Like, we were giving people $700 checks after a hurricane in North Carolina saying you gotta pay that shit back.
[1:25:35] Voice F: We're still alone.
[1:25:37] presley.eth @Presley__eth: I don't know. They sound legit to me, Dave.
[1:25:40] Landy @CryptoLandy: This was all USAID, by the way, the CIA front front company that that just basically gave money to NGOs to wash it into all these other things that were... That never even happened. That's one of the big things that Elon's finding is a lot of this stuff never even happened. There was something... There was some sort of... Somebody from Nigeria actually broke it down. Somebody from their government broke it down how much money they were they were sloshing out when Trump actually put a freeze on the January 28. And on the twenty ninth, they were still trying to funnel money out to get money out of the fucking USA IT program for things that would never benefited anyone there. It was just money laundering.
[1:26:25] Dave @DCBK2LA: It's insane. Think about... I mean, excuse me. It's crazy. Right? There's gonna be certain things that will... Like, you you can look at. Right? Some of this other shit is crazy. 780,000 for IHOP. That was nuts. Literally, the International House of Pancakes. How much how much pancakes y'all eating? A million dollars in pancakes? That's crazy. $15,000,000 annually for recruiting scientists for Russian weapons institute.
[1:26:53] Kool @koolcryptovc: Print what?
[1:26:53] Voice G: Spend with friend. Yeah. Print again.
[1:26:57] Dave @DCBK2LA: Yeah. Spend with friend. Print again. Exactly. That's crazy, man. Some of these things were so... The the shrimp on the treadmill was the best one I have ever seen. It was literally, like, how shrimp run. It was, $2,000,000. How shrimp run on... How is shrimp reacting? That's the thing. I... This is what
[1:27:15] presley.eth @Presley__eth: I'm talking
[1:27:15] Dave @DCBK2LA: about about this
[1:27:16] Landy @CryptoLandy: in my life. Way faster than a shrimp run, so I was really, really happy with that.
[1:27:20] Dave @DCBK2LA: This is crazy.
[1:27:21] Voice G: Over here in The UK, we had a... In the pandemic, it was PPE equipment. You know, I gonna say to you, hey. PPE equipment that just never arrived from a company that was set up last week by some... By by an actual person who was put into, like, the actual parliament straight afterwards. Right? Like, given a period. Right? Which means that they're putting, like, our version of congress. Yeah? Right? The same person who set up a company, yeah, and extracted all the dough for all the PPE equipment that was meant for The UK. Crazy, crazy shit.
[1:27:55] Dave @DCBK2LA: Yeah. They don't feel bad, bro. We sent... Like, California sent almost, like, $8,000,000,000 in total, like, payments to people in penitentiaries. They were sending fucking benefits to prisoners, bro. I swear to god I can't even make that up. You gotta love this place. Yeah.
[1:28:08] Voice C: It's sunny
[1:28:08] presley.eth @Presley__eth: Imagine all the maple syrup from Canada.
[1:28:12] Dave @DCBK2LA: Sunny d. What's good, bro?
[1:28:14] Sunny D @dylN0chill: I thought I remembered the name of that lady that would pop into spaces. Judy was her name.
[1:28:20] Dave @DCBK2LA: Oh, Judy. Yeah.
[1:28:21] Joe @JoeOnChain: Yeah. Yeah. That's... Judy. Yeah. That's her.
[1:28:24] Sunny D @dylN0chill: She was hitting on you super hard one space. I thought I thought someone paid her to come and just fuck with you. But
[1:28:32] Dave @DCBK2LA: She knows I don't discriminate. It's fine.
[1:28:37] Sunny D @dylN0chill: Yeah. But a great conversation, and I've kinda like... I mean, MemeCoins, I think they'll have their place again, but not until we have more liquidity in this space because I think everybody's realizing that we're just trading trading bags back and forth, back and forth, back and forth, and 99% of us are not in the know, and we suffer the the consequences of that. But I think they'll have a resurgence. I think it will force it will force meme coins to actually become not just MemeCoins, but things that do solve problems. And I just see it as something that was just driving attention. I think it's not gonna go anywhere, but it's cool to see everybody else kinda realize what I've been watching because I I I didn't jump into Solana because because I saw what was going on, and it's just cool to see nature healing. So thank you everybody for sharing your perspective today.
[1:29:42] Dave @DCBK2LA: Thanks, Dee. And then your final ones, guys. $6,000,000 to fund tourism in Egypt, millions to an eco health alliance in Wuhan. We're not gonna talk about that. 20,000,000 to an Iraq Sesame Street show. Pretty dope. Pretty dope. But I still think that shrimp on the treadmill wins the day. I'm sorry. But, guys, appreciate you. That's all we got today, guys. Cool start to your show in literally one minute. Check him out. He's going live on YouTube, Landy. Thank you, Press. Appreciate you. Viper saga, Sunny d. Yo. Go on. Amazing takes today. And Joe, obviously, and everybody else for coming through. I appreciate you guys. Have a good one. We'll see you all tomorrow. Peace.
[1:30:21] Landy @CryptoLandy: Peace.