All Things Crypto BTC 10k? Yeezy down 70%

# All Things Crypto BTC 10k? Yeezy down 70% | 2025-08-21 | https://x.com/i/spaces/1djGXWgqwOeKZ | status: approved
# Speaker attributions verified via X captions, ECAPA voiceprints, and on-air handoffs where marked confirmed.

[0:01:10] Dave @DCBK2LA: What up, Nat? Andre, what up?
[0:02:14] Dave @DCBK2LA: Now you'll never believe what this DJ's name is. Her name is
[0:02:30] Dave @DCBK2LA: Humble, what up, guys? What's good?
[0:02:50] Dave @DCBK2LA: French, Milo, what's cooking? Locked in. What up? Jess, what's good?
[0:04:04] Dave @DCBK2LA: Give me one minute, guys. Like, share, retweet. You know the drill. We're gonna get started in just a sec.
[0:04:37] Dave @DCBK2LA: God. There's nothing better than, like, a beautiful Latina DJing to these tunes. I mean, YouTube is amazing. I love this. Amazing stuff. What up, everybody? Happy Thursday. Last day of the week for all things crypto. A day before, less things crypto. However you wanna see it, depends. It's up to you. We got the crew here. Yeah, man. I've had a busy, busy day. Been cooking over here, a lot of tunnel stuff, tunnel campaigns. I've been trying to get Junie score ups. Maybe Junie can start accepting some campaigns. You know what I mean? See if we can do this automation thing. You know? Trying to, like, be efficient out here, guys. But, yeah, let me see what's up with everybody else. Cool. Nat, what's good? What's cooking?
[0:05:21] Kool @koolcryptovc: Hey. What's because I got so happy Monday. I swear I said Monday. Happy Thursday. Let's go. I'm very pretty sure. Let's do it.
[0:05:26] Dave @DCBK2LA: Let's go. Sorry. It wouldn't be a Thursday if cool didn't say it was Monday. I love it. Let's go. Nat, what's good?
[0:05:33] NatNat @Natnatx007: I'm great, man. I love we start the show with that vibe, that music. I love how you started with, and then that beautiful transition for us, and that was amazing. I'm pumped. I'm hype. It's been a great week so far. We've been calling it. Landy and I on the wall space. It's it's playing out exactly how we mentioned. We're at a a very important level now in BTC and and the Shopify market. Tomorrow, we have Powell and the Jackson Hole speech. We shall see.
[0:06:00] Dave @DCBK2LA: Let's go. Good stuff. We're gonna get into a lot. There's some... There was there was a lot... I mean, there's a lot cooking on the Travify side, man. There really is. There was so much stuff cooking. Landy, what's good, bro?
[0:06:10] Landy @CryptoLandy: Doing well. Just watching the markets ebb and flow and listening, to all the wonderful takes about utility tokens by very famous people that are launched overnight. So, yeah, it's, it's been an interesting one. So it should get exciting again tomorrow too.
[0:06:32] Dave @DCBK2LA: Yeah. We'll get into the easy shit in a minute, but, yeah, Nat, you gotta let cool engagement farm like that. This is false. Have you seen the title, Nat? You see what cool does? This is...
[0:06:42] NatNat @Natnatx007: That wasn't cool. That was me.
[0:06:44] Dave @DCBK2LA: Oh, shit. Yo, cool. My bad, bro. That was... Yo. Took a page out of the cool book. This is unbelievable. Shit.
[0:06:51] NatNat @Natnatx007: I've been taking those cools.
[0:06:55] Landy @CryptoLandy: You can't curse It's an amazing inside joke now.
[0:06:58] Dave @DCBK2LA: This is crazy. But you can't curse out here, but we could make blasphemous titles like BTC 10 k? Oh my goodness. What is going on out here? Holy cow. Nat's really looking to farms on these... Hey. Let's get your friends in here. We're gonna tell you exactly why the title is total bullshit, and BTC 10 k is just to farm you. Thank you. Wow. Nat, I'm impressed. I was like, yo. You're like, cool. I was like, cool. You better stop this. She was like, no. That was me. What the hell? You see how he held back on that one, Nat? I didn't say it. I didn't say it. I didn't say the cool story, though. I do wanna start off with with with this really cool story. I don't know if you guys are familiar with this, but there's a card company, a trading card company called Cardsmiths. And they do... And I bought a box of this today because I saw on the timeline, you buy these boxes. Right? Like, and you open these cards, and they have, like, a currency, like, series. Right? So I bought, like, a mega box, like, a $120, and you get, like, 10 packs or whatever. And you scratch off on the back, and you can win crypto. I saw on the timeline today, and they bury, like, BTC. Somebody won one BTC. I saw on the... I was like, yo. What is this craziness? I saw it. Somebody shared it in my group chat, and I'm like, GameStop is selling trading cards where you can win crypto? This is a genius move right here. Think about what this does. Now, like, you can have, like, the fun of... Because, you know, ripping packs is, like, all the rage now. What not... I I I don't know unless you're living under a rock, but whatnot and everything else is, like, like, all the rage. It's fire right now, whether it's Pokemon cards, basketball cards. I mean, it's everything. But, like, to rip a pack and win a Bitcoin? Have you all heard about this? Yes or no? Like, cool, Nat. Anything? Yes. I have.
[0:08:39] NatNat @Natnatx007: I actually saw this when I was out. Top signal, maybe. Think I think it is very interesting, but the good part is that it it brings awareness into the crypto industry. Because think about it. Like, not we know about crypto. We know about BTC because we're in here all the time. But a lot of them, you'll be surprised how many people don't know what Bitcoin and what crypto actually is. So that's great marketing for the industry. That's the way I see it.
[0:09:08] Dave @DCBK2LA: Right? I mean, I'll... Like, this is the fun about this whole thing. You know what I'm saying? Like, this is what makes this whole shit fun in my opinion. Cool. Have you heard of these before or no? No, bro. It's the first
[0:09:19] Kool @koolcryptovc: I heard about this. That's pretty crazy, though. Really, and, yeah, I never heard about this before. Is is... You say... It's it's on it's on GameStop? Is that what you said?
[0:09:26] Dave @DCBK2LA: Yeah. You could buy the packs on GameStop. I literally got a pack being delivered today. I'm just, yeah, I'm just waiting for, like... You could do same day delivery. I got one box being deli... Well, one pack being delivered today. It was $40, and then I got another mega box that's coming. I spent a $120. I like this stuff. This stuff is what makes stuff like this shit fun. It looks like it's scratch
[0:09:45] NatNat @Natnatx007: off cool. So it looks like a scratch off, and once you scratch it off, it'll tell you exactly what you want. And someone really did win one BTC.
[0:09:52] Kool @koolcryptovc: So I have a question. How does this benefit GameStop? Do they... Is this some... Is this something that you you can only get at at the GameStop stores, or is it everywhere around stores? I don't I don't get it.
[0:10:03] Dave @DCBK2LA: Yeah. Think so.
[0:10:04] NatNat @Natnatx007: From what I from what I read, it's only available at the GameStop store. So then that would drive traffic to the GameStop, new new clients to GameStop, new money to GameStop. You know, it's a it's a win win for them.
[0:10:17] Dave @DCBK2LA: Don't forget, Ryan Cohen, okay, head of GameStop. Like, he transitioned GameStop into a full on BTC treasury company. You're... If you remember this. Right? So to me, this is just, keeping the ethos of GameStop while also kinda, like, pushing. Like, imagine somebody scratches off a Bitcoin. They're like, what the hell is this? You think there's somebody that might throw it away and be like, oh, it's crypto. It's a scam. And we're like, oh, what are these kids doing? Imagine? Holy cow. This is gonna be like the guy who lost the thing in the dumpster all over again.
[0:10:45] NatNat @Natnatx007: You know what? Now to think of it, my mother-in-law bought something from GameStop, but she doesn't know what... Oh my god. Imagine if she got something and threw it away.
[0:10:55] Dave @DCBK2LA: She'll be like,. You're like, no. No. No.. No, please. Landy, have you heard about this or no?
[0:11:05] Landy @CryptoLandy: Yeah. Yeah. And made me wanna short game stock stock. So I was I was like
[0:11:11] Dave @DCBK2LA: Why? Why
[0:11:12] Landy @CryptoLandy: is that poppiest top signal I've seen in a long time? Are you kidding me? Between Michael Saylor, you know, ignore the bear and Gamestop, you're ripping packs. Look. I saw people fighting in a Gamestop. They were literally fist fighting over over Pokemon cards. And and now they're gonna be fist fighting over BTC cards. Like, man, let's let's bring the bear market on. Jeez.
[0:11:39] Dave @DCBK2LA: Listen. Don't... What... Yeah. Cool. Are you are you signing off on this too? Top signal? Like, wait. What do... I've been hearing this the last couple days from you guys. Like, I... I'm... You're starting to scare me a little. What the hell?
[0:11:51] Kool @koolcryptovc: Yeah. I don't I don't know, man. I I guess the market is very, very weird. I I I would say that. But I don't know. I don't know. Top signal possibly in the short term, maybe. But I... The the reason I don't think it is, though, is... Oh, I I... Like I said, I I haven't experienced this before. Can we
[0:12:09] Dave @DCBK2LA: have a can we have
[0:12:10] Kool @koolcryptovc: a top signal without, you know, the real retail to dump on? Right? Because we don't really have them here yet. So... But I do think market does seem like it'll come lower... A little bit lower, but I don't know. I don't know, man. The market is very weird, man. It's hard to it's hard to to to know what's gonna happen in this... Because we've never seen ETF before like this. We've never seen money like this in crypto, and it's it's so strange because you... We're we're having multibillionaires and and, you know, going on TV talking about EAT. EAT is gonna get to its 15 k. You know? BTC gets a $100,180 k by December. It's very strange, man. I I don't know. I really don't know, bro.
[0:12:54] NatNat @Natnatx007: Yeah. You know what, Cole? The reason why the market seems the way it is, like, a little bit funny, especially this week, nobody knows which way it's gonna go, is because there's so many moving pieces now, especially in the traffic. There's, like, a lot of these big decisions that are being made that can potentially impact both crypto and the trad fi market. So everyone is like, holy hell. What is going to happen? I mean, the way I the way I see it and where I stand is I'm really neutral on it. Right? If it goes... I'm hedged, like I was telling Andy earlier. So if it goes down, we print. If it continues to go up, we print. Because no way in this world should we be caught with our pants down. Right? We should always have a plan, like like we mentioned yesterday.
[0:13:35] Dave @DCBK2LA: Facts. Man, you guys are giving me pause. I'm like, what the hell at this point? What? You know what I mean? Like, I don't know. But as I'm looking through, like, some of these other, like, news stories I'm seeing... Everything I'm seeing is, like, be careful. Be careful. Jupiter issues alerts to, like, phishing attempts. So, like, obviously, like, if you signed up for, like, alerts from Jupiter, like, be careful. Like, they're saying massive phishing scams are going out. But I guess, I mean, that's nothing new for me also. I get... I feel like I get emails every single day. I get, like, 17 different Coinbase withdrawal withdrawal text messages. It's like, hey. It's like, these dudes never lose it. Like, they're messaging me from Singapore. It's like, 635197245. And I'm like, guys, I did not request a fucking Coinbase withdrawal, but I don't know, man.
[0:14:23] NatNat @Natnatx007: That was
[0:14:24] Dave @DCBK2LA: Alex, what's up? Yep.
[0:14:25] NatNat @Natnatx007: Sorry, Alex. Before before we go to Alex, that would... That happened to me while I was out sick. Thankfully, I was, like, so out of it. I didn't really, like, click on the button. But then once, you know, once I started recovering, they sent me an email. And let me... Oh my gosh. Once you click on the email... You know, in Apple, once you click on the email, it shows entire email address. This email address, it had a first and last name, but it was, like, @sex5somethingsomethingsomething.com.
[0:14:50] ALEX DAMSKER @AlexDamsker: I'm like, nice try, Diddy. Nice try. Nice try, Diddy. But but
[0:14:54] Dave @DCBK2LA: real quick also, by the way... So this was actually on CoolTelegraph today. A victim lost 783 BTC worth 91,400,000 in a social engineering scam impersonating exchange and wallet support. And stolen funds are being laundered via Wasabi per Zac XBT. Like, the social engineering shit is not eve... Is not a joke, man. You know?
[0:15:17] Kool @koolcryptovc: I don't... I I I don't get it, man. Like, okay. So I have money in different wallets, but I don't I don't get how people lose their money like this. I don't I don't get it, man. Is it is it that they're they're living too much money on on their main wallets? I don't I don't because I'm like, if you have that much liquidity, your money should be in a vault. You should have it. You should... It shouldn't be connected to anything. I don't I don't get it, man. I don't understand it, bro. I really don't.
[0:15:41] Dave @DCBK2LA: So, like, when when you say, like, it shouldn't be connected to anything, I mean, don't forget, guys. It was obviously Alex's account that hacked me, quote Alex's account, right, that messaged me that I got hacked, if you guys remember. It was like, Dave, we're waiting for you on this space, and, like, we gotta talk. And I'm like, oh my god. Alex. Okay. Great. Yeah. Next thing I know, fucking 0.13 BTC is flying out of my Xperse wallet. And I'm like, motherfucking. No. No. But... So at the end of the day... And and cool in all fairness. Right? Like, thank god. The majority of my bit... Like, 92% of my Bitcoin is is on cold wallet. Yes. I get it. But, like, some people keep, like... I mean I mean, I don't know. But even... You can socially engineer off of a cold wallet. You know what I'm saying? Like, that can happen. No?
[0:16:24] NatNat @Natnatx007: That is so true. Wasn't there a cold wallet sometime... Treasure that got hacked or something happened?
[0:16:29] Dave @DCBK2LA: I remember that where they they cracked up. But even that, do you guys remember the whole ledger story? Yeah. It was ledger. Yeah. Do you remember the whole ledger story where, like, they they sent the ledgers to people's houses? Well, like, after the data leak, like, the the scammers literally sent ledgers to their house with, like, a note. I remember this story very clearly. They sent ledgers to people's houses being like, we're sorry. On ledger, like, letterhead, there was a ton of, like, grammatical errors. That's, your first inkling, by the way. If there's, like, grammar errors in anything, something is plural, and you're just like, This isn't this isn't this isn't, like, English English. Like, yeah. If a company is gonna do anything, this... Is gonna spend the time to send out communication to you, that's, like, the first tip-off to, like, be like, yeah. Probably not.
[0:17:14] Landy @CryptoLandy: Dave, Nat Nat almost got me yesterday. She was like, this can't be the real Landy. He's talking about... He's gonna b b l? What is this? And I was like, be back later. And she's like, oh.
[0:17:25] Dave @DCBK2LA: Oh, shit.
[0:17:26] NatNat @Natnatx007: That was so funny, guys. So we're in in in in a group chat together, and I'm just going through the messages. And then all of a sudden, I see a notification from Mandy that says BBL. And my mind my mind completely registered it as Brazilian butt lift because in no way in this earth I would think that
[0:17:47] NatNat @Natnatx007: I didn't pass any judgment on Landy. You know? I literally said, you know what? Your body, your choice, Landy. You do what you gotta do.
[0:17:56] Kool @koolcryptovc: Yo. Almost crashed my car, man.
[0:17:59] Dave @DCBK2LA: Come
[0:17:59] ALEX DAMSKER @AlexDamsker: on. Oh, sorry.
[0:18:00] Kool @koolcryptovc: Yo. I almost crashed my car. You guys are nuts, man. I want PPL, Landy. Come on, man. Really?
[0:18:06] Dave @DCBK2LA: That's tomorrow.
[0:18:07] ALEX DAMSKER @AlexDamsker: I I I love the ones that are... Like, I get ones all the time that are either texts or or, like, on... What is it called? Shoot. What is that? WhatsApp. Right? And they're like, we're from Coinbase or whatever, crypto.com or... Well, a lot of it's Coinbase, but it's like some overseas number. Dude, it is not an international number that is calling you about your account or texting you. They're not texting you, first of all. They are not texting you with an international thing. It's always like Africa or The Middle East, and they're... It's an international number. I'm like, what? Do you think I know... I don't know, first of all. It's it's ridiculous, but it happens all the time. So, I mean, the phishing scams are crazy, and they're only gonna get worse as, you know, as
[0:19:01] NatNat @Natnatx007: Is it me or is
[0:19:02] ALEX DAMSKER @AlexDamsker: she running? Crypto grows. Right? Like, that's just the nature of it.
[0:19:06] Dave @DCBK2LA: Oh, she's coming through fine for me, Nat.
[0:19:10] ALEX DAMSKER @AlexDamsker: Yeah. So just FYI, like, that's what's happening. Also, I did not phish or scam Dave. Someone took an account that looked like mine and decided to to scam him. That was not me. Was not... That was... Did not have anything to do with me. That was somebody spoofing me or or, like, it wasn't actually spoofing me because it... I I guess, or maybe they were. I don't really know what account it was, but it wasn't my account. But it was it was an account apparently similar to mine, and it was, and then... And it it it, stole from Dave, which I'm very sorry that you were robbed. But, it wasn't it wasn't me. This is my only account. So
[0:19:54] Dave @DCBK2LA: anyway money back? Can I get my money back, Alex?
[0:19:57] ALEX DAMSKER @AlexDamsker: I hope you can, but not for me because I did not take it. So...
[0:20:03] Dave @DCBK2LA: Anyway No.
[0:20:04] Samara @thee_samara: But fine.
[0:20:05] ALEX DAMSKER @AlexDamsker: Speaking of scams, did y'all see what's happening with yay?
[0:20:10] Dave @DCBK2LA: Yay. Wait. Woah. Woah. Don't jump ahead. We are gonna get to the Yeezy talk in just a minute. We are gonna get there. I promise you. This Yeezy nonsense is... I mean, this shit is... Is crazy. But I just... I... Let me say what's up to pharmacist real quick. Pharmacist, what's up, man? How are you? Welcome. I'm James. James, man. Good good evening. Good morning. Wherever you are talking to hear me from. It's actually good to be here. I'm James to
[0:20:36] Voice I: the coho, James to Dave, and all these. Yeah. It's actually good to listen to you guys. It's actually an incubating space. And, yeah, I just want to ask a question real quick. Due to how toxic the crypto is and the scam, so it's actually advisable for someone to store its assets in a cold wallet or in a warm wallet.
[0:21:02] Dave @DCBK2LA: Yeah. I mean, listen. If you got any significant amount of money like Cool is saying, like, put that shit on cold wallet. Right? Like, bro, my cold wallet isn't even in the same state as me. How you like them apples? So I can't even talk because, like, I don't... Like, I I know myself. Like... And I know that, like, I would probably do some dumb shit. Right? So, like, I literally have it in a safety deposit box in a bank, and I just throw and add VTC onto it whenever I get a little extra money, and I'm putting my VTC there. Like, that's essentially that's... That... That's what I'm doing. I should probably now start putting it to use in Bitcoin DeFi. But either way, at the end of the day, like, cold wallet, cold wallet, cold wallet, bro. And, like, don't... Like, was saying, don't connect it to shit. Don't connect it to anything. You know what I mean? Like, nothing. Literally nothing because you... It's good... It's okay to have money in the hot wallet, and I probably had too much in the hot wallet like an idiot. But I wasn't expecting to get, you know, my my MacBook to get hacked. You know what I'm saying? Like, okay. Maybe one wallet gets hacked, but I got my MacBook was hacked. And, essentially, they got access to all my hot wallets. Right? Every single... What's it called? Every single Chrome extension that was on there that was a wallet from, you know, Xverse, Leather, MetaMask, you know, I mean, you name it across all these different chains. So, Ravi, and it it just sucked. But, yeah, be really, really careful pharmacist. I'd say keep all... Like, significant money and significant assets, keep them on the cold wallet for sure, bro. Nat, yeah, go for it.
[0:22:25] NatNat @Natnatx007: Yeah, guys. So I'm having a really, really bad signal. We have a storm coming. So if I disconnect, I apologize. But, one thing I did wanna mention before we go into the Yeezy story, I wanted Alex's take on a story that's pinned at the at the top. DOJ says it won't target developers of decentralized crypto platforms without criminal intent. I feel like there's something there. So whenever we get to that point, feel free to jump in, Alex.
[0:22:49] Dave @DCBK2LA: Well, yeah, let's go. Like, what what describes criminal intent, Alex? Like, how do they know? Like, I mean, we just saw the conviction of of of Roman Storm, right, from... What's it called? From tornado cache. Not tornado. Tornado? No. Yeah. Tornado.
[0:23:05] ALEX DAMSKER @AlexDamsker: Yeah. That was tornado cache.
[0:23:07] Dave @DCBK2LA: Yeah.
[0:23:07] ALEX DAMSKER @AlexDamsker: And, interestingly, he's only one of three developers. So, I mean, it kinda sucks, that he's taking the fall for this. But, so the way criminal intent works, that's different from from the way civil civil liability works. So civil liability doesn't really have anything to do with what you meant to happen. It's really did you cause the thing that happened. Right? Is what you did, whether you meant it to or not, that's... A lot of people think in terms of it was an accident. Right? Accident is irrelevant. Right? If you meant it to happen or it was an accident, that doesn't really matter in civil liability. It's did you do it? Like, did I accidentally, you know, bump into the the brake that released the car that ran over the person? If I accidentally bumped into it or if I pulled the brake that that caused the car to run over the person, it doesn't matter, really, for civil liability. It's basically, did you cause the thing that caused the damage? That's civil. Right? Criminal is what were you thinking when you were doing that? What was your intention? It's called mens rea. Did you have an evil mind? Were you trying to cause damage? If you didn't, it's harder to show criminal intent, which means that's that's that's criminal penalties. Right? So in our system, it's easy to to charge someone with money damage, but, it's hard to charge someone with loss of freedom. That's criminal criminal intent. Right? So criminal penalties are loss of freedom and can be the death penalty. And we basically say in our system that you don't get charged with things that take away your freedom, seize your assets that, like, criminally. Right? We don't... We say we don't take away your freedom. We don't potentially take away your life unless you did something with bad intent. We are okay with taking your money even if you didn't mean to do something because you caused a harm. Right? That's really the difference. So here, what they're saying is they're not targeting developers unless they meant to cause a harm. If they accidentally did something or did something, and the side effect was causing a plat... Like, causing a damage. Like, they made a platform and someone used it with bad intention, but that's not why they created the platform or that wasn't the intention of the platform. It's a trading platform, and somebody who who used the platform used it for for money laundering. Right? If you didn't create a money laundering platform, you created a trading platform, but someone used it for money laundering, they're not gonna go after you. But if you created a money laundering platform, that is criminal intent. Therefore, they can go after you. Right? That's what the idea is saying. Is that is that clear?
[0:26:17] Dave @DCBK2LA: Yeah. No. That's clear. That... That's... I mean, what what's not clear is how do you determine what tornado cache is, right, like, from a privacy perspective? And we don't gotta get into this now, but I'm just saying, like, just throwing it out there. It's like, how do we... Like, that's such a hard thing. And and and Roman was convicted, on the lesser charges, if I remember correctly. So, like, he didn't... And and the other two are still on trial, by the way, Alex. Like, Alexi and... I forgot the other dude's name. But, yeah, they're they're still No.
[0:26:44] ALEX DAMSKER @AlexDamsker: I think they pled. They pled
[0:26:46] Dave @DCBK2LA: the
[0:26:46] ALEX DAMSKER @AlexDamsker: lesser charges. I think they pled. Yeah.
[0:26:49] Dave @DCBK2LA: Interesting.
[0:26:49] ALEX DAMSKER @AlexDamsker: So he's the only one that I think actually fought the charges. So... But think that... So for tornado cash, what their... The defense was that they just created this mixing platform. And the idea is if we just create a mixing platform, it's not our responsibility what people use it for. So the idea is is this is the... Can the the the the issue then would be, is there a legitimate use for mixing platforms? Right? Like, do we create this decentralized platform, and are people using it for criminal issues, is there a legitimate use for for for this platform? That's really what's gonna end up happening is it's kind of like like in constitutional law where you have to say, like, what kind of a law is this if it falls under a classification called, you know, rational basis, then you have to just say, is there... No matter what the real intent was, like, they could have actually, intended for it to be used for money laundering, but because it's, with... You know, because of the the wording of this, if they... And I'd have to look at it more deeply, honestly. But, it looks like, if there's a reasonable use that's legal for a decentralized platform, it's unlikely DOJ would go after them. Right? If there's a clear illegal use or it's clear that the developers had criminal intent, developed it for a criminal use. Right? There's some way that it's documented or it's clear from the code or it's clear from the way that the that the exchange or or or or the the platform was set up or whatever that it it is it is criminal in nature, then they'll go after the developers. But if there is a legitimate use and there's nothing about it that clearly says that this developer had criminal intent or that this this platform is criminal in nature, then they're not gonna go after the developers.
[0:29:07] Dave @DCBK2LA: Got it. Makes sense. Yeah. I mean, I I guess with with with the notice at the top now, DOJ says it won't target developers of decentralized crypto platforms without criminal intent. I guess let's hope. Let's see. We shall see how this is... How this whole thing is is gonna play out. Let me see. Alright. What else do
[0:29:26] Kool @koolcryptovc: we got cooking? Tether and Circle Easy. Easy. Easy. Easy.
[0:29:31] Dave @DCBK2LA: Okay. Let's go. Let's talk about let's talk about the Yeezy madness. I'm literally out of the loop, so you guys fill me in. Cool, Landy. Landy, know you had a crazy ass space last night. I was cooking on all this stuff. What's the deal, Cole?
[0:29:42] Kool @koolcryptovc: Give me my... Give me my... Landy, man. He... He's he's the guy with the juice me as of alpha.
[0:29:48] Dave @DCBK2LA: Landy, talk to me, bro.
[0:29:49] NatNat @Natnatx007: Happened, Landy. Tell us. Apparently, I was... Apparently, you can't sleep in crypto because I was sleeping. I woke up. Jeezy lost the coin. Tupac came back. It was wild.
[0:29:58] Kool @koolcryptovc: Man, I was... I I will go 4AM. 4AM, I was up going to the gym. I was like, yo. Landy's up. I saw a coma. Like, what's going on? So, Landy, go ahead, bro. I didn't get... Yeah. I I didn't even know... I didn't even slept, bro. 4AM, man. Where are you? In the East Coast, West Coast? That's crazy.
[0:30:12] Samara @thee_samara: I'm on the West Coast, man. So...
[0:30:15] Landy @CryptoLandy: Look. I... It... It's... Yeezy came out with a contract. You know, they've been teasing this for a very long time. It's kind of expected. And and if you watch the network, you know, the... These... And this contract was flagged as soon as the liquidity pool was built. When this coin launched, I looked at the liquidity pool that was being built up, and it was very heavy on the Yeezy token side versus the USDC side of things. So it's, a lot of single sided liquidity exits going on in this liquidity pool. He has launched what many are calling a meme coin, but is in fact, according to his website, a utility token that he wants to use for the Yeezy ecosystem. And I'm trying to... I I I hate clicking on all the links, so I'm not actually gonna click on the links. So I'm gonna go by memory here. But, essentially, that he's... The pitch is on this website that he linked out to is that this is going to be, used for, perch... It can be used for purchases. It can be used for rewards. They wanna have some sort of a card attached to it and like all of this stuff. But when you look at something like the liquidity pool, it's clearly an extraction. It's all single sided liquidity heavy. Lot of exiting via single sided liquidity. So every time money comes in, there's an... It's overweight on the, on the token side. So, it's not a balanced pool. Wasn't wasn't launched that way. Went up to just shy of 3,000,000,000 or just right at 3,000,000,000 for the Yeezy token here, in terms of the fully diluted, I believe. And, yeah, now... Am I
[0:32:09] ALEX DAMSKER @AlexDamsker: looking at the right thing?
[0:32:12] Landy @CryptoLandy: Did they rebalance this? So... They rebalanced this. They they... It was, like, 3,000,000,000. I think they rebalanced the pools. This is actually odd. I haven't looked in a while. So, yeah, now it's now it's market cap is 114,000,000, but it's essentially... Most of that is is... It's it's kinda bunk,
[0:32:33] Dave @DCBK2LA: to be
[0:32:33] Landy @CryptoLandy: honest with
[0:32:34] Dave @DCBK2LA: you. Landy, they're they're
[0:32:35] NatNat @Natnatx007: It's a bunk.
[0:32:35] Dave @DCBK2LA: They're also... Nat, real quick. They're they're also relaying this to the Libra sniper wallets. Right? So this is Well,
[0:32:44] Landy @CryptoLandy: in some ways, yeah. Yeah. And then and then there was... I... There's an unverified post going around where somebody says that they're, you know, they... They're on a livestream. You see all the people partying, then there's another one where somebody's calling Hayden Davis, and he's talking about, oh, you should have got in early. But to me, it doesn't sound like him, and there's obviously no... There's not showing the phone number. He's just showing, like, Hayden and his contacts, and I don't know. The dude didn't sound like Hayden.
[0:33:11] Dave @DCBK2LA: But they're saying wallet overlap, Lindy. Right? They're saying the Yeezy Launch Sniper wallet does overlap with the Libra extraction flow wallets. Is that getting the... Yeah.
[0:33:20] Landy @CryptoLandy: They traced that back to...
[0:33:25] Landy @CryptoLandy: Let me look at his name real quick here. Hold on.
[0:33:27] Dave @DCBK2LA: And didn't Hayden Davis just kinda get off to him and his, like, scam partner just get off the hook from a federal judge for, like, 50... That 56,000,000 or whatever? They just...
[0:33:35] Landy @CryptoLandy: Yeah. They just got 47 or 57,000,000. Oh, the the very first wallet to snipe was an account called Nasim, and that's the one that they're... That people have been tracking as as being the common wallet between the two.
[0:33:48] Dave @DCBK2LA: Would would that be fake volume, Landy?
[0:33:51] Landy @CryptoLandy: I mean, it's real. You can go and and you can see the volume, getting taken out of the pool right now. I mean, they're they're ripping clips out of that thing, and they have been since last night.
[0:34:02] Dave @DCBK2LA: I mean, meant with it being heavy
[0:34:04] Samara @thee_samara: on the whatever easy side.
[0:34:06] Landy @CryptoLandy: I mean, there was there was, like, the... It was the funding of the pool shot it right up. Right? And then because it was single sided exit, they... The the value of of the token... Because the way pool is constructed to find the value is you input the the the amount of the token and the amount of USDC, and that that amount of the USDC versus the token is what determine the the market cap. Right? And they were just very overweighted on one side, But they put in, you know, a 100 or... 150,000,000 right off the bat into the liquidity pool. And... It went to 3,000,000,000.
[0:34:46] Dave @DCBK2LA: Right, Landy? Was, like, 3,000,000,000, then it crashed
[0:34:49] Landy @CryptoLandy: back down
[0:34:49] Dave @DCBK2LA: to a bit. Now it's been down to a bit. Even in $1,000,000,000, like, on the hope that Yeezy says, oh, I wanna make it a utility token. Like, what are we talking about here? Like, people are psychotic.
[0:34:59] Landy @CryptoLandy: Fully diluted value should be somewhere around 1,000,000,000 or something like that. They're talking about the the whole pitch is on the website, and, obviously, it's, in my opinion, very poorly put together. But then you have people arguing for, no. No. It's... He's gonna use it for this and that, and he's one of the biggest, you know, personalities on the planet. And it's like, man, like, you got caught at the top, didn't you? Like, what the hell? But, you know, it's it's purely an extraction play, all you have to do is look at the liquidity pool to see that it's an extraction play. Is he gonna do something with it later? He still could try. I mean, if he's really gonna use it, he could probably use it. Now then we're probably getting into legalities and jurisdictions and stuff like that for how it was constructed. But, you know, there was clearly a lot of insiders and a lot of... Not not even snipers because if you go and you look at the people who are selling in clips versus exiting through the liquidity pool, they... There was no there was no input transaction from the pool to their wallet. So they already had tokens sent to them, and that's that's the other thing. So... But it's kind of a moving target. People are finding more. There's some people doing investigations. And I like the investigations about this that sound like they lead you into feeling like they're, like they're doing, like, some real detective work that's, like, gonna figure out who the culprits are. Like, we're gonna get them, but then it turns it into... As you usually read through the thread, it's, like, slowly turns it into what a great opportunity for a new financial system for for people who have been debanked. And like this, it is the most hilarious thing ever. Some of these threads. I can't tell if they're trolling or if they're being serious.
[0:36:42] ALEX DAMSKER @AlexDamsker: This thing is so funny. When I looked at it, I was like, is this is this real? And looking at it is probably the the funniest thing I've ever... I I all I could think is I miss Donda so much. She kept him in line. You know? Like, his crazy was contained, and I don't know what is going on here with these things. I mean, when you're looking at, like, Acorn and thinking that was better planned than this, that is not good. This is this is not good. I'm not... I don't really know that a deep investigation is needed. Like, 20% is out, 80 per... Like, so much of it is held by insiders. It's insane. And and there's nothing about it that... Like, a financial system has certain requirements. It looks like... I've read some of the posts. It sounds like I've not read nearly the post that Landy has, but some of the the the post that I read, none of them seem to understand what the key components of the financial system are, which include understanding economics and finance. None of them mentioned any of the characteristics of a true financial system, which incidentally is one of the reasons why most of the stablecoins that exist are crap. Right? Including things like Tether. Right? Those are... They're... They don't really have the key markers of of financial... Of of long term
[0:38:20] ALEX DAMSKER @AlexDamsker: economic system. Like, we'll have to understand what is required to maintain current versus an asset.
[0:38:32] Dave @DCBK2LA: You're breaking up, Alex.
[0:38:36] ALEX DAMSKER @AlexDamsker: I'm driving. Me go for it. To under Oh, okay.
[0:38:39] Dave @DCBK2LA: Go for
[0:38:40] Kool @koolcryptovc: it. Go ahead, Alex.
[0:38:40] Dave @DCBK2LA: Go ahead. I know.
[0:38:41] ALEX DAMSKER @AlexDamsker: But to understand, like, what what makes something an actual financial system, that's a huge claim. And to understand what makes something a financial system, it requires so many structures that it's... For someone to say, here, I threw up this garbage tokenomics system. It's a great financial system, and it helps people that are unbanked. People don't understand financial systems and can't protect themselves anyway. I mean, it's it's irresponsible at the, like, the very least. Right? It's it's it's cruel. So, I mean, it... You know, I have real issues with these things that go after people who who really don't know how to protect themselves financially. So these are systems that shouldn't exist either because that target people who who cannot protect themselves. There a lot of problems here.
[0:39:44] Dave @DCBK2LA: Yeah. Agreed. Landy, go for it. Good stuff, Alex.
[0:39:47] Landy @CryptoLandy: Well, Alex, I'm not sure you understand that this is Yeezy money. It's a concept to put you in control, free from central authorities. And Yeezy is the currency that powers transactions within Yeezy money. And...
[0:40:10] Landy @CryptoLandy: But we also... You have to understand, it's more than just Yeezy, the token that was launched on Solana. It's also YeePay. YeePay is a crypto payments processor that enables merchants to accept both credit card and crypto payments with low fees lower than the 3.5% charge tradition... Traditionally on platforms. Merchants can seamlessly integrate YePay, and you can offer your customers simple and fast checkout experience. You're... Go ahead and pay
[0:40:42] Dave @DCBK2LA: the truth. What was I thinking? What was I thinking, Ria? You are right. This is a
[0:40:48] NatNat @Natnatx007: This is a cop.
[0:40:49] Dave @DCBK2LA: It's genius. It's it's it's
[0:40:52] Landy @CryptoLandy: a Yeezy money ecosystem. It just happens to be a Solana meme coin token launch, but it's a Yeezy money ecosystem. And you can go ahead and you can give them your email today and get your Yeezy card. Alright? You can you can sign up right now and get your Yeezy card.
[0:41:09] Kool @koolcryptovc: You know you you know, crazy. Last night when I I got up early, you know, was looking at it up. I saw I saw that there were four spaces being held, four four separate two two spaces about Yeezy talking. I knew this thing was gonna be bad because it... This this game is is the same. Unfortunately, you know, we have the KOLs. Right? They... Maybe they bought... We had a... What's what's his name? After Hayes bought bought it. He had over a million followers. So all these KOLs buy this stuff, and they talk about it. People ate in. It's down 49%. This thing was at $3 and now it's at 0.8. So people were... I mean, three separate spaces with 300 live viewers in each of them. So that's probably... Was that three times four? That's 1,200 live people lit... Listen to spaces on how to buy this thing last night. And, unfortunately, people lost money from this again. I just I just... It just... I guess we have a very short short memory in crypto, so people just tap into wrong stuff and lose money, but they don't learn. I guess, it's it's just the game. Right? I guess.
[0:42:14] ALEX DAMSKER @AlexDamsker: Yeah. That's what I'm don't pay for it, though. Yeah. KOLs don't pay for those. They they get it as part of their payment.
[0:42:25] NatNat @Natnatx007: That is true. Can you guys hear me?
[0:42:27] Dave @DCBK2LA: Yeah. We got you. Yeah. Go for it.
[0:42:30] NatNat @Natnatx007: Yeah. So I think while we do have a a short memory in crypto and investing in general, right, because the same thing happens in this... In the stock market with options and zero DTEs. But we have we have to have some kind of brain cells that that are active at some point because this guy... I I sent I sent the link over. He put in over a $150,000 into Yeezy and lost it. Like, who in their right mind would do that? That just blew my mind. Like, I... Like, there... There's one thing of... About, you know, being young and just going for it. Right? But a whole another thing is acting like we don't have no brain cells. Like, that just blew my mind because at some point, something's gotta give. Someone has to say, alright, guys. We're not doing this anymore.
[0:43:17] Dave @DCBK2LA: Nat, what do you mean? Let... Bring... Like Samara said, bring the criminals back to crypto. Guys, I'm gonna share all of my my Billy Betz referral links with you guys because, apparently, you love to gamble. So just go use Billy Bet and just gamble away. Like, if you love using Yeezy, by all means, go nuts. This is a gamble. That's it plain and simple, Nat. Like, this is what this is what the degen trenches love, period. End of story. This is it.
[0:43:45] NatNat @Natnatx007: Yeah. But what what would he... I mean, you you go in 150,000 at the top. What could possibly happen, Dave? Beamer, what could
[0:43:52] Dave @DCBK2LA: I'm You wanna know something? I'm not trying to convince that guy. You shouldn't put your 150,000 there. You know why? Because that guy that's putting a 150,000 at the top, there's no sense... Or sensibility in this man's brain. Did I just quote a movie? I feel like I just quoted a movie. I don't I don't really know. But there is no there is no sensibility. There's nothing up there. Like, in what world does that seem normal to anybody? And if you're in this room right now and you got into Yeezy Token, you made money, god bless. You like to roll the dice, all good. But a 150,000 to top blast? Goddamn, man. Yeah, Landy. Go for it.
[0:44:26] Landy @CryptoLandy: Well, I'm just waiting for the token migration, to be honest with you.
[0:44:30] Dave @DCBK2LA: That's to gonna be...
[0:44:33] Landy @CryptoLandy: To another network. They're gonna just... Let's migrate over to another network now and and and try it over....
[0:44:39] Dave @DCBK2LA: Base? Yeezy's coming to base? What's going on?
[0:44:42] Landy @CryptoLandy: Yeezy on base.
[0:44:43] Dave @DCBK2LA: Yo. Yeezy on base.
[0:44:45] Landy @CryptoLandy: This is outrageous. Slides.
[0:44:48] Dave @DCBK2LA: Bro. There's just couple of jokes here. There's so many jokes.
[0:44:53] Landy @CryptoLandy: Dave, the space that I that I opened up was literally like liquid... Yeezy token liquidity pool and balance beware. And, like, I think that I was the only one that had that in the title, and it was just kind of... It it was it was very easy to pick out that, like, by the time anyone even saw it, like, within ten minutes, you... There's no point in even looking at it even if you're a degenerate gambler. You might as well, you know, even... I I I don't know. I was watching people clip in, like, thirty, forty, fifty k a clip just... And they were fresh wallets, and they were... In in existing wallets. People were clipping out of certain projects and other coins that they were in... Into it, like, bridging, and it was just... I'm looking at the at the transactions and tracing some of them back, and I'm like, why why are you chasing something like this? And it was in the dead of night. Like, what is going on with people? But, you know, to each their own, you... You're gonna f around and find out. And, you know, they're gonna find out, I guess, over and over and over and over again forever.
[0:46:04] Dave @DCBK2LA: Yeah.
[0:46:05] NatNat @Natnatx007: And you know what? A lot of a lot of what I'm saying in my timeline that they were, like, super dupe... They're, like, really young investors, like, in their, like, high teens, early twenties. And I I I look at them, and I'm like, I did something wrong in my, like, my teens and my twenties because I already have a $150,000 to blow.
[0:46:21] Dave @DCBK2LA: I don't know where they're getting a 150,000 from. I'll tell you that right now. I... No. I didn't know. Do I wanna know? Okay? You get a 150,000. That's crazy. Ay yay yay.
[0:46:32] Landy @CryptoLandy: I'm gonna become a Yeezy Maxi now. I'm selling all of my Bitcoin full porting to Yeezy, and I'm gonna become a Yeezy maximalist, a toxic Yeezy maximalist. It's gonna be the next... It's gonna be blockchain of the future.
[0:46:45] Dave @DCBK2LA: Easy on base.
[0:46:46] NatNat @Natnatx007: Yeah. I'm with you. I'm with you, Landy. I sold all of my Solana.
[0:46:50] Dave @DCBK2LA: Oh, yeah. Solana? Oh, speaking of criminals, look who showed up. It's perfect timing. Oh my god. This is great. Amazing. Look who... The blue red ninjas here. Perfect. We were just talking about... You know you you know somebody that was trading Yeezy, Samara. I know you were trading Yeezy, bro. You better spill the beans. What is going on? We were talking about BBLs. I don't know what they were talking about in the chat. I'm like, where is Samara at? Now we're talking about Yeezy. This is, like, your episode, bro. What's up?
[0:47:18] Samara @thee_samara: Yeah. Jim, Jim, Dave. Jim, cool. Matt, Matt, Landy. It's actually you guys here. I didn't get in on the Yeezy pump. I didn't... Yo. When when I saw Yeezy was, like, I think a billion or so or so, something like that. Was it? Didn't even get that. But, bro, like, that was obviously, like, mass extraction, bro.
[0:47:34] Dave @DCBK2LA: Like, it
[0:47:34] Samara @thee_samara: was ridiculous. Yo, man. Kanye. Kanye. Kanye, bro. Kanye just let me down. I thought he'd never launch a coin, bro. And it's not like he's broke. I don't know if he's broke or anything, but I didn't expect Kai to launch a meme coin, bro. Like, it's ridiculous. Bro, like, it's ridiculous. And I'm sure no one goes in that stuff early unless the insiders, but, bro, it's ridiculous. I think he made, like, I read somewhere he made, like, over, like, I think, 200 and something million in how many... Like, an hour or so. So... Yeah, man.
[0:48:06] Dave @DCBK2LA: What? Yeah.
[0:48:08] Samara @thee_samara: It's ridiculous. It's ridiculous.
[0:48:09] Dave @DCBK2LA: What was the trading volume?
[0:48:11] Samara @thee_samara: I have no idea. I saw... I've been seeing stuff on on the timeline. Like, a couple of people said they got in, like
[0:48:17] Dave @DCBK2LA: Oh
[0:48:17] Samara @thee_samara: my 50 god. Million or whatever. But, yo, that that stuff was basically just mass extraction. It was basically like a pump and dump. But it's it's it's dumped heavily, so... As expected. So, yeah, I don't trade celebrity meta anymore, man. They're all, like, liars, obviously, they're all liars.
[0:48:36] Dave @DCBK2LA: Yeah. We were just talking... Tomorrow, we're just talking about the overlap that it has with the Libra token. My man Hatin back at it again and Nat Nat. Listen. I feel bad for people, but we we don't gotta be sad in the title for everybody. It's like Yeezy down 70%. We should be laughing and be like, like, if you
[0:48:53] NatNat @Natnatx007: Oh, no. That that was cool now. That was cool.
[0:48:56] Dave @DCBK2LA: Cool. What the hell? Cool. Like, forget being sad for people. Like, Yeezy down 70%. You lost money. Smarten up. Come into ATC more often, Monday through Thursday, fuckers. I mean, people, like, what the hell? I didn't say no... That. Nope.
[0:49:11] NatNat @Natnatx007: Nope. I'm running I'm running invoice somehow.
[0:49:14] Dave @DCBK2LA: Nope. Nope. Yeah. That's crazy. Like, this is... That's crazy work. I don't know, man. But, look, We gotta make some sort of sense of this market. Cool. If you're confused, imagine what everybody else is feeling, bro. What what sense are we supposed to make from this market right now? Yeezy's launching tokens. Shit like you... We're saying maybe top signals all over the place. I'm over here buying cards hoping to scratch off 1 BTC off a trading card. What... Like, what's going on, bro?
[0:49:42] Kool @koolcryptovc: Not yet. So like I said before, it's just... To be honest with you, I think best thing to do is I'm sure a lot of people that we know in this space are doing the same thing. You have a good amount of exposure in USDC already. I don't... I can't say go sell your bags now. That might not be good advice, but I would say this. If you are holding a large amount of money in non day caps, it might be a good idea to sell some maybe because I think the the markets ran up really fast for the past three weeks. You should expect something to come down. And like I said, I'm... I... And I... I'm seeing a large amount of money. Like I said, I'm not sure if this if this indicates us going lower, but there's over $536,000,000 outflows from ETFs. That doesn't necessarily mean we're going lower, but that could be indicator maybe maybe taking profits. And another thing is, there's a massive aligned queue for the stakes eat. Like, four... I think we've seen 4 to 4 to $6,000,000,000 of stakes eat being withdrawn, and it's... You have to wait in line to withdraw your money. So there's a lot of a lot of money coming to to sell for all of it. But like I said before, you know, as long as you have your stables, you're fine. That's your protection. But, you know, your your conviction plays too. Those are the big caps, the the ones that already have, possibly ETFs coming. If you wanna know this, it's very, simple. All you have to do is go to, Robinhood or go to Google and just type in, crypto assets on Robinhood. It it just show you all the assets on Robinhood. Those assets on Robinhood are the ones you should be holding for the long term. But those assets are the are the ones I've done very, very, very, very well in the past couple of weeks. So... But right now, for me, I am in heavy cast. I'm still playing with with all these DeFi stuff and EdgeRub stuff. But I I wouldn't recommend you selling everything right now. I don't think so. I would say if you do have a lot of money into non big caps, it might be a good idea to sell some because Landi is correct. We are seeing some signals of choppiness, right, with the with the Kanye West stuff. I saw another token of WikiCats. We didn't talk talk about that already. WikiCat did 4,000 x in the past three years, in the past one year. I'll say in past couple of weeks, did, like, almost a thousand x on BNB. That's the meme coin. So we've seen weird things happening at the same time. It... It's it's hard to gauge because we don't have the the real, retail in the market yet. But, you know, at the end of the day, as long as you have the the the big plays, the chain links, there are in the Bitcoin and the, Solana, you're fine. But staying in class cash might be a good idea right now.
[0:52:48] NatNat @Natnatx007: And to confuse us even more, the fair and greed index is literally right in the middle. It's neutral. Alright. So we'll we'll go, Landy and then Alex. So I see you both have your hands up.
[0:52:59] Landy @CryptoLandy: I I was gonna say the WikiCat one, I got lucky because they just raid and raid and raid and raid. And all last month, they were raiding and raiding. And I was like, you know what? This chart is basically dead. I might as well throw a little bit into it and see what happens. And then it just popped off for 15, 1500%, to the upside. I had... As soon as I saw it, like, kinda kinda taken off a little bit and, like, went from, like, 8 mil to, like, 40 mil, 60 mil area and then, like, took a break. And I took a little bit of profit, and it's... It was, like, the day I took profit, it started to rip. And I was like, well, let let it... Let's just let the rest fly and see what happens as soon as the high volume started to hit. I was like, you know what? Out and pull the plug on that one and move on. But when we start seeing this kind of stuff, like like Koola said, like, Matt has said, like, Dave, I'm sorry. You literally just got a bunch of cards that you're gonna... You got scratch off. You got Bitcoin scratchers, Bitcoin lottery cards. When I start seeing stuff like this become prevalent, it's very much, look. The the the local high has already been in. Right? So so now we're seeing the follow through from that, which usually leads to a period of of a pullback and consolidation we gauge from there. I'm not I'm not one to say that this is a bear market and we're actually going to 10 k or anything like that, unlike some people on some other spaces that I need to go back and listen to, Nat. I need to listen to the person that says...
[0:54:26] NatNat @Natnatx007: You do. You don't wanna miss that.
[0:54:28] Landy @CryptoLandy: Oh my god. I need to listen to that. But it's... You know, it it it is also right in time for what we would expect around this time of year anyway and at this point in the liquidity cycle.
[0:54:41] Dave @DCBK2LA: I'm gonna scratch off the
[0:54:43] Kool @koolcryptovc: beat season. By the
[0:54:44] Landy @CryptoLandy: way, Dave, I'm so sorry.
[0:54:45] Dave @DCBK2LA: Oh, you better stop it. You better stop it right now. This nonsense. No alt season. Ridiculous when even
[0:54:51] Landy @CryptoLandy: close to 5,000. In the room with us now, Dave?
[0:54:53] NatNat @Natnatx007: The weekly didn't close that the The
[0:55:00] NatNat @Natnatx007: kangaroo lag is below the line. The the kangaroo
[0:55:03] Dave @DCBK2LA: lag lag below
[0:55:04] NatNat @Natnatx007: the line. The alt is not... It has to be on top of the alt
[0:55:06] Landy @CryptoLandy: You gotta wait for the inverted. Okay? Just wait for that.
[0:55:10] Dave @DCBK2LA: I don't even know the continuum transfunction or, dude, where's my car? We're getting Monica. I don't... Get out
[0:55:15] Kool @koolcryptovc: of here.
[0:55:15] Dave @DCBK2LA: Alex, go for it.
[0:55:18] ALEX DAMSKER @AlexDamsker: Okay. So a nontrader perspective because these are trader perspectives, which are cool. They're... I mean, they're really good trader perspectives. I'm I'm I'm just not a trader. I'm a long term investor, so just as a different perspective. So from, like, more of a macroeconomic view, this is a sell market. It's a classic sell market. It's been overpriced for a long time. And, and this is what I've talked about for a little while that really what you're looking for is, you know, you're always trying to buy things that are undervalued and sell things that are overvalued. I talk a lot about stocks, bonds, and crypto, and there are a lot of bargains right now. It really does matter what you... What price you buy things at even when you're a value investor because you need to know if your your sell price is is actually, like, going to make you a profit at this point. So so, really, what you're looking for right now is, essentially, holding on to something through a down cycle only makes sense, really, if you are going to, to continue to hold it through the next cycle, and you're going to then miss opportunities, between the cycle. So if you look at it, really what, what are... What's cash for? It's for buying assets. Right? When you see something that's cyclical, right, it's going down and up, what... And it may rise to higher highs. The the trick really is to say what's better, holding on to something through a low and then another high or cashing out while I know that I've made a profit than buying something that I know is a bargain and and then cashing out as it rises and finding a better profit there or writing a new high and cashing out. And that really... What what makes the difference really is what price did you buy in at. Right? There... Even if you're a long term investor, whether you ride it out or you sell and then buy something else that's cheaper and undervalued and then ride that out, that... The difference is what price did you buy in. Right? So make sure that you're not holding on to something even though it's like a long term hold or something like that, just because it's considered a long term hold. You need to make sure that you're holding on to something because it still has good sellout value for you based on the price you purchased it as. Right? Because it could be that right now, this is the sell point for you, and then you can actually find something new at a lower price that's a great value and and find your exit on that, in the next market. Right? So, just because something might be generally good advice doesn't mean that it's great advice for you. Right? Everything has... You have to kind of look at everything and make sure that it's good advice for you.
[0:58:38] Dave @DCBK2LA: Alex, do you think... I'm just curious. And, Sandeep, I got you. I'm coming right now. I just wanna ask Alex this question. I can almost... Like, I will make this claim. I would say that 90% of crypto Twitter, when they put money into something, they have zero idea what their actual cost basis is for that specific... Because this... The whole swapping of currency thing is, like, it... It's a foreign concept to a lot of people, and they don't understand where their cost basis actually is. Nobody's keeping spreadsheets doing any of that stuff. So, like, that's a really hard... As simple as that sounds, that's great advice. But I'm curious to ask you, how many people you think actually know their cost basis for something? Like, any position they help.
[0:59:20] ALEX DAMSKER @AlexDamsker: I mean, first of all, they're all liable for it for taxes. So I hope they know. Second, if they bought it on an exchange, they can find out because the exchange will tell them. Right? The exchange has to keep records of what you bought and the price that you bought it at. So the third thing is you might have bought things at different prices. Here's the big question. When you sell something, how do you know if you're... If you bought ETH at, let's say, three different prices last year? When you're selling ETH, how do you know which price you're selling that ETH at? Like, was it the one that you brought... Bought, you know, at 1,000, at 2,000, or at 3,000? That depends on your local accounting treatment. So you need to go to an accountant who understands crypto to understand what exactly... Whether you're making a profit or a loss, right, on what you're selling. You need to go to an accountant no matter what. So first, everybody has to know this stuff. You have to know this. And I've been saying this for literally five years. You should write down what you buy and the price you buy it at. It always matters. You're you're responsible. The IRS has said this for years and said this specifically two and a half years ago. You are liable for understanding your own cost basis and your tax liability. You are for crypto. They've specifically said that, and they haven't rescinded it at all. You are liable. Doesn't matter if you did it on multiple exchanges. It doesn't matter if you didn't understand it. It doesn't matter. You are liable for understanding how much you had to pay in taxes. So that means you have to understand how much you spent on what. And then the other thing is understanding when it's a good time to sell. This is all stuff that, you know, I try to talk about literally all the time. That's what my econ and market spaces are. That's what I write about on Substack. Like, literally, what I'm talking about is how do you do this stuff? How do you understand what to buy, what to sell? What what are these things? What I'm saying this is a sell market. You have to understand selling even more than you understand buying. Buying is useless if you don't sell. You must realize profit. Right? Holding on to something means nothing if you don't do something with it. Right? Unless you're, you know, going to collateralize that and do other things with it, which most people aren't doing, you need to do something with that asset in order for it to mean something. You can't just hold on to it and just be like, I have these things. Yay for me. I'm rich. You have to figure out how to turn that into something that you can convert into another asset, and that means selling it usually. Right? Sell. Sell. Sell. So that... These are all principles that we all need to understand. And all of the buy rooms and, like, buy this, buy that, all that crap, that's not teaching you investment principles. That's not teaching you how to actually understand what you're buying, what it's worth. It's... If it's even a good investment for you. And I guarantee there is no investment, nothing, Not Microsoft or Apple or even Bitcoin that is good for everyone. There is no investment that's perfect for everyone. You don't know every... Like, there's nobody who knows everyone's exact, financial situation. Unless someone is willing to drop their financial pants in front of you, you really can't actually make a good financial suggestion to them. Right? That's why I say I can't tell you what you should do because I don't know your financial situation. I don't... My financial situation may be very different from yours. My risk ability and my risk comfort may be very different from yours. So I can't tell you what's good for me is good for you because I may be willing to take on risk that you can't afford to take on or you just aren't comfortable taking on. Right? They may be totally, totally different. So that's why people saying you need to buy this is the dumbest fucking thing in the world. You know they don't know anything about investment because they don't know you. They can't tell you that. Also, anybody who has a real idea, like a real... A great idea for stocks, right, or or crypto or anything. If you have a fantastic, if you've got a great method for trading stocks, if you've got a great idea for what to buy, you do not tell a bunch of fucking strangers on the Internet.
[1:04:22] NatNat @Natnatx007: Writing an invoice, Alex. Writing an invoice.
[1:04:25] ALEX DAMSKER @AlexDamsker: Alright. Alright. You don't tell a bunch of strangers on the Internet. That's not... First of all, that's not how insider trading works. That is... What that means is you are their exit liquidity. Because the way that you make money is by doing something other people are not doing.
[1:04:43] Dave @DCBK2LA: Have to
[1:04:44] ALEX DAMSKER @AlexDamsker: go against the market.
[1:04:45] Dave @DCBK2LA: This is prevalent out here. I can't tell you. When I... In 2021, how many times did you guys hear about, oh, I'm in these group... I'm in these in these these these paid shill groups. Right? And it's like, I would be talking to, like, a cousin. They'd like, yeah. They gave me the buy zone, and they gave me the sell zone. And I'm like, why don't you just put a freaking Target on your back and literally just say, literally dump on me. The buy zone and the sell zone? Like, you think that's what... Like, all that person is doing is literally funneling the herd to be like, okay. Everybody come this way. Okay. Now everybody buy here. Let me sell you everything I got. That's the good buy zone, though. That's the buy zone. And the sell zone is essentially up here, which coincidentally, maybe it hits it. Chances are it'll probably never hit their cell zone ever ever ever ever ever ever ever ever ever. Okay? Okay. So understand Exactly.
[1:05:39] ALEX DAMSKER @AlexDamsker: Like, that person will be long gone by the time you're expected to reach that zone. It'll be like crickets. That... You'll never hear from that
[1:05:48] Dave @DCBK2LA: person. I mean, it's... That... That's
[1:05:50] ALEX DAMSKER @AlexDamsker: gonna be logged on. Right?
[1:05:51] Dave @DCBK2LA: And I'll say this too.
[1:05:52] ALEX DAMSKER @AlexDamsker: Zone zone, like, expected around thirty to sixty days. Yeah. And, like, in ten days, that person's gone.
[1:05:58] Dave @DCBK2LA: For it. It's... Guys, I promise. It's coming. You just have to be a little, yeah, patient. When we say patience, patience on the investment side, not patience listening to some shill in a group tell you,
[1:06:10] Landy @CryptoLandy: this is the buy zone. It's coming. I swear. Or the
[1:06:13] Dave @DCBK2LA: sell zone is coming. Bottom line, also, I have dropped my pants many a times trying to find an accountant to... That understood half the shit that I was actually showing them. You know what I went through in 2021. It was the bane of my existence. But god bless you, Jeff. If you're listening, you are the man. Thank you very much for keeping me out of prison. Thank you very much. Find yourself a crypto accountant that knows what the hell they're doing and can interpret all of this stuff when you print one thing. Just go print out your Coinbase statement and see what they said. Yo. No, Brett. You do have to pay taxes, just FYI. You... Like, we can't just Billy Betts it up and just be be degenerates and, you know...
[1:06:50] Bread @_ToastMalone: Bro, I always pay my taxes. And if we're shouting out CPA, shout out Nick Young. He is my CPA, and he has also kept me out of prison multiple years now. He is the absolute goat out here for crypto CPA. So, yeah, shout out to him for, you know, keeping us out here. Yeah.
[1:07:07] NatNat @Natnatx007: I was I was going
[1:07:08] Dave @DCBK2LA: to say, David, with regards to taxes,
[1:07:10] NatNat @Natnatx007: I think Coinbase has a very pretty cool system. You just print out the statement and so does Robinhood. I know for my CPA, those two things, they make it easy.
[1:07:19] Dave @DCBK2LA: Yeah. But don't make it easy. When you DJ... I I wanna know what the hell Samara's taxes look like. Like, I mean, I don't know if he's writing off BBLs or what.
[1:07:28] NatNat @Natnatx007: Landy is definitely writing off some BBLs.
[1:07:30] Bread @_ToastMalone: Yes. For for for real, if you're out here in crypto and you're still using fucking TurboTax... Oh, I'm sorry. A $100 in the jar. Right? But you're still using TurboTax, like, you need to get yourself a CPA because, like, you are definitely screwing it up.
[1:07:43] NatNat @Natnatx007: What? You're about to go to jail
[1:07:45] ALEX DAMSKER @AlexDamsker: jail, the
[1:07:46] NatNat @Natnatx007: real one.
[1:07:47] Dave @DCBK2LA: You're about to go to Sam Bankman free jail, like, diddy diddy jail. Let me say what's up to Sunny d real quick. Sunny d, what's good, my bro?
[1:07:57] Sunny D @dylN0chill: Yo. First, this is a a cool animated conversation. I love how it's just bundling everything from easy to just being responsible, and it's always interesting listening to people who are trading a lot. And this is where I'm gonna just plug, you know, holding and compounding passive income is awesome because you don't have to worry about any of this shit. So I'm... I was gonna go into deeper, like, a little bit of how things are done on Tron, but my window of talking is up, and I I gotta go.
[1:08:38] Dave @DCBK2LA: Sorry, buddy. Well, listen. You know It's
[1:08:41] Sunny D @dylN0chill: all good.
[1:08:42] Dave @DCBK2LA: It's all good.
[1:08:42] Sunny D @dylN0chill: I love listening to Alex. She's she's so animated and smart. I appreciate you coming on the space and chopping it up with us.
[1:08:49] Dave @DCBK2LA: Especially when she shows up on time. Right? It's, like, amazing. Right? Isn't that nice when she shows up on time? I love it when she shows up on time. It's amazing. Alright. Brett, what's new in the prediction markets here, bro? Because I feel like people are sleeping on prediction markets, bro. I know, like, yes, this is a big part of my bag. I get it. But, like, I genuinely feel that, like, this is a much bigger story than, like, and nobody's talking about it, and, like, we need to start championing this story, bro. What's the deal? Like, what is going on?
[1:09:19] Bread @_ToastMalone: Bro. So, dude, yeah, you couldn't be more right. Everyone's fading these prediction markets right now. Like, I mean, like, everyone, like, Cali Shu made news recently. Right? Because, like, they're dope and, like, you know, they're doing some cool sports stuff. And so we're working closely with Kalshi, but there was another announcement today that Polymarket plans to be legal in all 50 states. Because currently, with Polymarket, you can't go ahead and use it unless you're using a VPN, which, you know, like, you're not allowed to do. Don't do that. You know? But... So, like, ultimately, the only US, you know, centralized certified, regulated, whatever you wanna call it, is CalSheet currently. But Polymarket's gonna hit the scene later this year. Both FanDuel and, DraftKings both came out today and said that they plan on, you know, essentially spinning up their own prediction markets and their own sports predict... Prediction markets because, again, the the rules and the laws around gambling versus a prediction, versus a raffle, a lottery, versus sweepstakes, like, they're all this all this garbage, you know, minor, minor details and all of it that ultimately is the line between you can do this in New Jersey, but you can't in New York. And with prediction markets, you're good to go everywhere. You know? So it's gonna be really, really interesting to see kinda what happens here, who's gonna be able to roll out by football season, us, and, who is gonna actually make it to being able to roll out their prediction markets by the end of q four.
[1:10:46] Dave @DCBK2LA: Yo. If y'all have not gone into the Billy Betts platform, and I know I plug this, but I started playing really with it, like, more in-depth today, it's actually really... Like, the level of analysis is crazy when you actually think about, like, how you can actually make bets. So if you're a degenerate gambler, stop betting on Yeezys. Stop betting Yeezy. Right? It's not gonna be a utility token. You're not gonna get to buy sneakers with Yeezy token. It's never gonna happen. So, essentially, like, go play on Billy Betts. Maybe bet on the Giants. You know what I'm saying? Like, I don't know. Go figure something out. Not that I'm I'm I'm advocating for them. I'm just
[1:11:14] Landy @CryptoLandy: saying Bet against the Giants, you mean?
[1:11:16] Dave @DCBK2LA: No. No. No. No. Not the New York football Giants. Okay? I'm talking about the San Francisco Giants, which I have a bet on technically. But regardless, Nat, yes.
[1:11:26] NatNat @Natnatx007: I do have one more story, Dave, if that's okay.
[1:11:29] Dave @DCBK2LA: Yeah. Of course. Shoot. Go for it.
[1:11:31] NatNat @Natnatx007: Lisa Cook mortgage fraud. I know Landy and Alex. I know that's up both of you... Your houses. What do you guys make of it? I know she's going to... She's in Jackson Hole right now, I believe.
[1:11:42] Landy @CryptoLandy: Can you can you repeat that?
[1:11:44] ALEX DAMSKER @AlexDamsker: Oh, I I I did a a post on that on on Substack. I did my first video on that. That was, so this is the governor Cook, of the Fed, is being pushed by, is being pushed to be investigated by, DOJ and and be removed from the Fed. And Cook says, absolutely no. She's not going to leave. The Fed has not made any comment on it. Now the interesting thing about this is, most investigations don't go down to the individual mortgage level. It's two mortgages. And we don't know what these mortgages are, whether or not there there's anything nefarious or anything like that about it, and we haven't seen anything from these mortgages. It's based on one tweet. But, the reason that it's happening very likely is because, so from Jackson Hole, two governors voted for, a reduced interest rate. And so his new plan is to, get as many people off the board and stack it with people that he favors so that they will vote for, an interest rate deduction. Trump thinks like a borrower. He's one of the biggest borrowers this country has ever seen, and he constantly thinks like a borrower. He wants lower rates. I did a, substack that talked about the factors that the Fed looks at. There was an... And in my Fed prediction, there's no way the Fed was going to reduce rates. And there's there's... It's very unlikely they're going to reduce rates in September unless something major changes even with the, like, consumer or job seeker... Like, their confidence. Job seeker confidence is now at an all time low. And I think that we're talking about, like, great depression levels at this point of getting a job. Like, the the job market has fundamentally changed. But if you look at the numbers, the numbers aren't aren't actually very soft. They're softening. Only the four week numbers actually look like they're starting starting starting to trend downwards. Everything else is normal. So there's no way barring any real changes. There's no way they're going to look at the... That economic stimulus over the clear signs of inflation. So, you know, trying to stack the the board right now is a really bad idea because regardless of what he does in trying to, stack it and and try and get interest rates lower, It's a terrible idea for us. We do not need lower interest rates. It's not gonna help the job market. It's not actually gonna do much to stimulate the economy. What it's gonna do is, is actually increase buybacks for large companies and, increase debt repayment, from large companies. And what that does is slow the economy even further. So that's not gonna help us.
[1:15:12] Dave @DCBK2LA: Yeah. Good stuff, Alex. Good stuff. Good stuff. Landy, I wanna ask what's what's new on the Bitcoin front, but I I I just got this thing called HEMI, token dot HEMI dot x y z. Did you hear about this? I'll put I
[1:15:28] Landy @CryptoLandy: did not.
[1:15:28] Dave @DCBK2LA: So world's largest Bitcoin programmability layer, 1,200,000,000 plus in TVL, 90 plus protocols, a 100,000 plus users. Any, like, what what... Just give me the give me the load on what's new in the Bitcoin world. I feel like we haven't spoken about Bitcoin in, like, in a minute. Shout out. I see Mark in here. And then, like, you know, shout out to those guys. But what what... What's new in the Bitcoin world, bro?
[1:15:52] Landy @CryptoLandy: Look. I mean, builders are just building. The main focus right now is providing, like you said, programmability and and layers that can interact with Bitcoin at... On on l one for finalization of of whatever type of mechanism they're using, to actually facilitate decentralized finance at the end of the day. So, you know, there... We're gonna see more and more of this. What a lot of people don't really realize is a lot of the, big VC arms of all of our favorite named asset under management companies are are kind of, quietly poking around and injecting money in very specific places, and funding very specific, things to be built, to try and unlock the liquidity, that is Bitcoin. Because it's very, very difficult to get Bitcoiners to do much of anything outside of layer one, as many of us already know, because the the ethos is to huddle. Right? So unlocking that liquidity through, DeFi layers that are Bitcoin linked is the goal, and now the awareness of those in TradFi, you know, much like the, staking aspect, right, that that, that was being driven towards for Ethereum, you know, to the liquid staking token stuff. It's all about unlocking liquidity, right, and not having to give up that asset. So we're gonna see a... And and most likely during the next larger downtrend, and I'm not talking about on the daily like what we're seeing right now, I'm talking about on the weekly time frame, you're probably gonna see more and more, of this and and more and more builders being a little bit more vocal because the the the volume level of all the garbage that goes on in the crypto echo chamber starts to die down, and we'll start to see more and more of that. There's there's a lot of investment that is being readied for Bitcoin, DeFi, or BTCFi. And there's a lot of really crazy interesting things happening on the energy side of things here in The United States, specifically when it comes to mining. And these two things are very related, and I am talking around specific things. But you'd have to pin up what what what specific thing that you're talking about so that I could take a look at it? Because I... I'm I'm either misremembering or or haven't heard of it, which is odd because that seems like big TVL Yeah. For me not to hear of.
[1:18:47] Dave @DCBK2LA: Yeah. I got specific instructions from from Empress earlier to be like, you better give me fucking white list. I'm like, okay. Okay. I'm gonna we will definitely try. Yeah. And FYI, say out of the DM doing like, where's empress? Chill out. Everybody needs a mental health day every now and again. Alright? So everybody just take it easy. Okay? We all know. Yeah. Y'all ran me out of here ready to go crazy two weeks ago. So everybody just chill the f out. I didn't say it, Matt. I did not say it. But... Yeah. Chill. And, Landy, get me whitelist. I'll pin this up I'll pin this up to the top, and make sure you get Empress whitelist too because I am not trying to get cut. Thank you.
[1:19:21] Bread @_ToastMalone: And make sure you get bread white list too.
[1:19:24] Dave @DCBK2LA: Oh, yeah. Bread. Yeah. That that pigeon. Funny looking pigeon. That is a crazy BSP, bro.
[1:19:30] Bread @_ToastMalone: It's a blue jay, bro.
[1:19:31] Dave @DCBK2LA: It's not a pigeon.
[1:19:32] Sunny D @dylN0chill: My fault.
[1:19:32] Dave @DCBK2LA: You can
[1:19:32] Landy @CryptoLandy: do something with that, Brad.
[1:19:33] Dave @DCBK2LA: What is that? A blue jay. I don't even know. Cool. Nat, what else? Anything else in the timeline maybe or or any other stories? Ninja, Landy, Alex, anything else that I might have missed?
[1:19:46] Landy @CryptoLandy: You might have missed that there's some pretty important levels on Bitcoin that you wanna see hold up, especially if you're in altcoins.
[1:19:54] Dave @DCBK2LA: I mean, usually, when I say what's going on in Bitcoin, typically, like, I'd like to know those things. I mean, kinda, you know, some... Yeah.
[1:20:00] Landy @CryptoLandy: Look. Look. I I went I went in a little bit of a different direction because, if we do drop this specific level, there's some some... There's an area of interest right now on the weekly between one zero nine and one twelve. We just tagged one twelve again. We previously were here not that long ago for a test. And if this level doesn't hold up, then there is a very good chance that we see a flush down in towards that weekly level at one zero nine. There's areas of interest along the way, but that's a very key level that if you're bullish on any kind of coins in the space or protocols, you might wanna pay attention to. Because if it is dropped, there's always the people who are going to be calling out the counter trend trade before it typically happens, but that would initiate a pretty strong move down if it dropped below $10.09 towards some very key levels. Like, where this move to new highs originated from around $10.08 is kind of the line in the sand. If that starts to drop, we're we're headed down. You know, $10.05, very viable. One zero one, very viable. And then under there, net net, what do we have? $95,000 to $96,000 as one of the bigger areas. Not saying that that is what is going to happen, but just watch very closely because this is a big weekly level at one twelve to one zero nine that you wanna pay attention to and just kinda watch. You don't have to stress over it. Just watch it. We we have a a news driven week. It's a very news heavy week, and I didn't touch on this here because it's not really the audience for it. But we had, you know, Flash PMI come out from the S and P Global. So, you know, there was some some interesting numbers to to take into account there with growth and and and inflation. And, actually, employment looked pretty good there, so I was I was a little surprised by that. But there was... We...
[1:22:01] Dave @DCBK2LA: One of
[1:22:01] Landy @CryptoLandy: the market right now is kind of waiting around to see what's gonna happen to Jackson Hole. Starting to get some cold feet here and there and some repositioning. Main reason why is because all of the the final demand, manufacturing and and services, their costs are going up. Now we have seen inflation in price as well, but it's still below cost. So they are absorbing part of this this cost, and it's just a matter of how long can they do so. And a lot of what, what the market is waiting for is to see what Jay Powell's gonna say. And I think it's gonna depend more on his language that he uses, because we've seen that the market likes to march right through, a lot of this stuff anyway. But I do think it's gonna depend on the language he uses because it's very well... You know, the market is now pricing in like, hey. There's probably not gonna be a cut because of the most recent numbers from last month coming into this month and then the trending numbers now. Yeah. I I don't... I mean, there's still a chance of a cut, but I think that the market... With the way that the data is coming in, we'll see the final data second and fourth of September. But the... Even the way that PMI manufacturing and services came in, this this is why they were kinda... Wednesday kinda saying like, hey. You know, maybe pump the brakes on this whole thing. We're we're concerned about inflation, and we wanna make sure that we're controlling that.
[1:23:36] ALEX DAMSKER @AlexDamsker: Why does he get a really when I told you already? Were you just not listening? I already said there's gonna be no drop in the... In this September.
[1:23:43] Dave @DCBK2LA: Oh, no. I must have missed
[1:23:43] ALEX DAMSKER @AlexDamsker: that. Gets it really. Yeah.
[1:23:45] Dave @DCBK2LA: Maybe I tuned you out.
[1:23:46] ALEX DAMSKER @AlexDamsker: Because you were just not with... Okay. Oh, a man says it. I see
[1:23:50] NatNat @Natnatx007: how he
[1:23:50] ALEX DAMSKER @AlexDamsker: goes. Okay. Alright.
[1:23:52] Landy @CryptoLandy: Well, I've been talking about this on this stage for a very long time, Alex. Come on. Cut me some slack. I'm
[1:23:58] Dave @DCBK2LA: I'm providing some context I'm
[1:24:00] Landy @CryptoLandy: providing some context here because, know, these things are important, and I'm speaking from the market positioning point of view. And and, you know, because everyone in the markets is is... When you see the way that the trades are being set up right now, you can see that they're they're hanging on every word. Right? You and I might not, Alex, but they are. And and because they are reacting in real time and positioning in real time with large amounts of capital. So we've already seen what happened with, a lot of cash positioning with the rollout from the reverse repo, and we saw where that went. And now it's more positioning and then waiting on his. And it's... The reason that I say this, Alex, is it's gonna depend on his language because many of them, despite what the market's betting on, in terms of percentage chance of a cut, most know that it's gonna be very difficult, and there's no real incentive to cut. Really isn't, and there hasn't been for a while, which is why it's kind
[1:25:07] Dave @DCBK2LA: of a lot of
[1:25:08] Landy @CryptoLandy: bluster. And we'll see what their reaction is to his speech because they already have all the data, and it's the same data that you and I are looking at.
[1:25:19] Dave @DCBK2LA: So question, would you... So, Landy and Alex, would you guys... If the if the CFTC was putting odds at a rate cut at 80%, should we be taking the other side of that trade? Like, I'm just curious. Would you put I would bet against it.
[1:25:31] NatNat @Natnatx007: I mean, the number is going down. It's at 70 now.
[1:25:34] Dave @DCBK2LA: Alright. I would have been
[1:25:35] Landy @CryptoLandy: betting against it the entire time....
[1:25:36] Dave @DCBK2LA: Too, Lendi? Interesting. Really interesting. Alex, you too?
[1:25:45] ALEX DAMSKER @AlexDamsker: I couldn't unmute. Yeah. I mean, I I actually put all my my rationale in there, and I've been talking about this for for a long time on on my econ and market spaces. This is not this is not something that... I I mean, like, you know, two weeks ago or one week ago, actually, we had the markets at a 100%, you know, pro pro cut for this this meeting, for Jackson Hole. And and that is because the way that the markets function is largely based on sentiment. And sentiment has a lot to do with the narratives driving the day. And there's a lot... A very strong narrative that that drives this, that's driven largely by the administration. Right? They're a very good and effective marketing machine, by and large. Right? And they're very heavily driving this. We need to cut rates. We need to cut rates. And there are reasons. We have a $7,000,000,000,000 debt wall coming, and, and they're in the process of of refinancing some of it. Some of it is going to be incredibly expensive to refinance, and we've been talking about this. Right? Like, there there are many reasons why a reduced interest rate, is something that is nearly mandatory for some parts of our economy. But that is not the Fed's concern. That's not that's not monetary policy. That is poor fiscal planning. And if we look at it from the Fed's perspective, we say... Like, from Trump's perspective, he's like, god. I gotta get these things down because I got notes coming up. I want the economy to go, and this is traditionally the trigger I pull to make the economy go. The problem is that that trigger hasn't worked since the nineties to make the economy work. And the other part is we look at... You know, we have to look at it from the Fed's perspective because that's who's making the decision. And from the Fed's perspective, that $7,000,000,000,000 debt wall is not his problem. That's not how he makes the decision. That's that's not how he's looking at whether or not he should actually be reducing the interest rate. He's got clear indices, and the governors have clear indices as to why they should or should not reduce interest rates. They've got very few levers in their power, and they have two mandates, one of which they no longer have any real control over. Right? And that is unemployment. That really only worked when the c staff was paid salaries primarily. That aligned to their interest with workers. And when, when the the, when money was cheaper, companies would give them... Like, c suite people would give themselves bonuses and would hire more people. And that is not what happens anymore. Bonuses stopped, and hiring people stopped. Right? Productivity increased without hiring, and it's maintained, its level. Right? Our GDP hasn't fallen. So it hasn't fallen with with loss of employees. So the ability to make cheaper money doesn't make more people hired. So the the... And the Fed knows it. The Fed knows that making money cheaper doesn't actually increase productivity and on it and, and it doesn't decrease unemployment. So they have to be careful with that lever in terms of, the ability to increase economic activity because, fundamentally, making money cheaper only helps if, most people are able to take on things like debt and consumer activity, which doesn't happen if people aren't getting incomes. That's our main method of of, of cash redistribution is is paychecks. That's how we distribute cash primarily. There are other ways that we distribute cash, but our primary method is still paychecks. And if paychecks aren't increasing with, with Fed activity, then our redistribution system isn't working. So the only other thing that they have then when they're looking at this is their main thing that they can do is stabilize the value of the dollar. And then they're looking at a few different indices, and they take that role very, very seriously. So they're not looking at all the other things that the administration is looking at. They're not looking at things that the judges are looking at. They're not looking at what everybody else is looking at. They're saying this is our role. This is what we're looking at. And and is this the right time to do something that's going to make, the the value of the dollar anything other than, 98¢ or a dollar to a dollar 2? That's our goal. And if it's gonna do anything else, our whole goal is just to keep our... Keep policy moving towards the 98¢ to a dollar 2. Everything else is fiscal policy, and we don't control it.
[1:31:17] Dave @DCBK2LA: Great great points, Alex.
[1:31:18] NatNat @Natnatx007: 100%. Landy, saw you had a hand up, but real quick, with regards to positioning, Dave, you know, I'm cautiously bullish. I'm always bullish on Bitcoin. But for downside protection, just in case, I did open a spy put position just in case. I just wanted to throw that out there. It's always good whenever we have moments like this. It's always good to
[1:31:39] Dave @DCBK2LA: be protected if you're in the markets or just sit on your hands or if you're out of
[1:31:42] NatNat @Natnatx007: the market. It's fine. Landy?
[1:31:46] Landy @CryptoLandy: Yeah. I was creeping up a a delta neutral position that you called very accurately as a straddle, and I let one side go, already. So, you know, I'm well positioned myself. And the the big thing is is in in this report as well, the the flash report that came out today, and and to, what Alex said, there is, you know, a projected two and a half percent GDP growth baked in. Right? So there there is not really the... There... There's many disincentives or or there's not any incentive to cut. Right? Because the danger is you cut, you free up that liquidity, and you spur inflation further. And then you're you're... You have, you know, stagflation or inflationary growth that isn't actually benefiting the economy and actually, devalues the dollar further. And this is where, you know, they... It's it's misaligned priorities because they're they're supposed to be misaligned priorities. Right? They're they're they're supposed to... You know, we're reaping what we've sowed for... Since, you know, the post COVID, spending sprees. So this is where, you know, there's... This is this is... And this is affecting the global economy. It's not just here in The United States. You know, I don't often talk about this, but I watch overseas, right, and and European markets and Asian markets. And this is a ripple effect throughout the globe. And I've mentioned this before, and I'm gonna I'm gonna say it just one last time. There's there's generational cycles, eighty to a hundred year cycles, and we're on the back end of that eighty to a hundred year cycle. So there's a lot of change coming. It's a matter of how do we handle that change. And I do believe that, part of the strategy that is being devised here is you pump up the AI side of things. You get on board with crypto. You try as you might to to get, production back to The United States, become competitive with some of the other countries, China, and then see where where things can go from there because it is a... It it... It's a changing world, and it's changing much quicker than I think people realize in that regard.
[1:34:13] Dave @DCBK2LA: Good stuff, Andy.
[1:34:15] Landy @CryptoLandy: I'll landed on that.
[1:34:16] Dave @DCBK2LA: Appreciate it. Thanks us to the end, kids. 07:05 dinner time. I hope everybody was good. Great, great, great space today, man. I love the space today. It was amazing. Good shit. Cool. Thank you. Nat, as always, Alex, Landy, Brad, Samara, great stuff. Metabeast, and everybody else obviously that came through, Sunny d. And, yo, to everybody listening in, I know we had a crazy, amazing turnout, and, yo, shout out to everybody. Yo, Vibes. I see you down there. Mark, we gotta get you up on here at some point next week. Matasco, Nifty Boy. I see y'all. Vince, Bildo, Dee, what's good? Olmeewat, LJ. Moondaddy, I see you. Cruiser, FixO, Kev, what's up, my bro? Janet, Blockchain. Yo. Everybody's here, man. Shaqsie, Shiv, everybody that's always here, man, for... And always supporting us. I appreciate you guys. Lazy, fried lab bitch, Jess, Tru Media, AMP. Yo, all of you guys, man. I really, really appreciate everybody coming through, man. So, yeah, that was it for for this week and the
[1:35:07] NatNat @Natnatx007: whole Who has his hand
[1:35:08] Dave @DCBK2LA: up, Dave? Hold on. Go ahead.
[1:35:10] Kool @koolcryptovc: Yeah. Sorry. I know you guys probably, but I just came across, a new info five platforms. If you guys are interested, check my page. Dave, I recommend you guys jump on this one. I just saw a couple of early Kaito Kaito people, jump on this. So I don't... He's on my page right now. So it's called mingo.
[1:35:30] Voice I: Alright.
[1:35:31] Kool @koolcryptovc: Don't say anything. This is crypto. So check my page out if you guys wanna jump on this thing like we did with Kaito and Wallchain.
[1:35:37] Dave @DCBK2LA: So Let's go.
[1:35:38] Kool @koolcryptovc: And enjoy the weekend, Much
[1:35:39] Sunny D @dylN0chill: love. Cool.
[1:35:40] Kool @koolcryptovc: Much love, guys.
[1:35:40] Dave @DCBK2LA: Cantor. A little too late, my boy. We're just going for dinner. I'm I'm heading out for dinner, man, but it was good to see you, and shout out to the fam. Good stuff, and we will see you guys next week. Peace.
[1:35:57] Dave @DCBK2LA: Let's go forking.