🎙️All Things Crypto: I Will Buy My First Home Using Bitcoin!

# 🎙️All Things Crypto: I Will Buy My First Home Using Bitcoin! | 2026-03-26 | https://x.com/i/spaces/1DGLdvEQZovGm | status: approved
# Speaker attributions verified via X captions, ECAPA voiceprints, and on-air handoffs where marked confirmed.

[0:03:03] Dave @DCBK2LA: Alright. I guess everybody's not feeling ATC this week. I took a couple days off, so I guess everyone's kinda like, whatever. But, you know, it is, it is what it is. Hold on one second. Okay. Here we go. We got a few pay... We got a few peeps in here. Yeah. I've been crazy busy today, so I was actually banking on... I forgot that Nat Nat wasn't coming today. Don't know if cool's coming. I don't know if anybody's coming, to be perfectly honest. But apologies about this week, guys. It's just been a crazy week. I've just been trying to focus more on, like, IRL shit. What's good. Milo, what up? Blockface was cooking. Samurai, Mustafa, hope everybody's good. Yeah, man. There's, obviously, there's some news. I'm just trying to gather up the news, like, as we speak. But the biggest news I saw earlier... Let me see. Let me see. It was obviously this crypto backed mortgages. I saw on coin... I got a Coinbase notification today. But, you know, we got we got some news, I guess, to talk about. Hyperliquid launches options trading on per common stock via Nasdaq options market. I like this. This sounds interesting. Pangu card. Alright. We're gonna go we're gonna go through a few of these. We're gonna go through a few of these. But Brad's here. Cantor's here. We'll say what's up to the boys. Brad, what's good, baby? What's good?
[0:04:28] Bread @_ToastMalone: Yeah. Gyan gang,
[0:04:29] Kantorcodes | ℏol/acc @Kantorcodes: can you hear me alright?
[0:04:30] Dave @DCBK2LA: Yeah. I got you, bro.
[0:04:31] Bread @_ToastMalone: Yeah, bro. Just out out driving. So I to kinda, like, get out of the house today. Clear my head. I like driving, you know, and just kinda, like, taking some time on the road. So cruising around, gonna go stop at a store here in Denver and see a guy about some stuff, and then probably just cruise back to the pad and kick it.
[0:04:50] Dave @DCBK2LA: What kind of stuff?
[0:04:53] Bread @_ToastMalone: Just some homeopathic herbal remedies.
[0:04:57] Dave @DCBK2LA: Yeah. Fair enough. Noted. A guy in the store for homeopathic remedies. Love that. Love that. Love that. Canter, what's cooking, bro? How are you?
[0:05:06] Kantorcodes | ℏol/acc @Kantorcodes: Good. I'm only here for a few minutes. It is nice outside right now. Are you indoors, Dave? You need to go outside.
[0:05:14] Dave @DCBK2LA: I was I was out for a good portion of the day today. I just got back a little bit ago to run ATC, but I didn't know who was gonna be in or who was gonna be out. I would just said fuck it and let everybody enjoy the time. But, yeah, we don't gotta go for ninety minutes today anyway. But, yeah, man, it's beautiful out in New York, bro. I love it. What's news with you, Kanter? I saw some Hedera news that... Was it? McLaren is joining the Hedera Council, I saw.
[0:05:37] Kantorcodes | ℏol/acc @Kantorcodes: Yeah. McLaren racing. They... I mean, there's a lot of seats coming up because it's a two year cycle, four year cycle. So, I mean, FedEx was the last one to join. Now they've got McLaren, so it makes you kind of interested. It's like, okay. Who's joining the council next? And McLaren, it's an interesting case because they're actually building on the network. They actually issued a bunch of McLaren racing NFTs that they give out for free, and they have limited edition ones that they do every race. So it's a pretty interesting membership inclusion in the GC.
[0:06:13] Dave @DCBK2LA: That's actually really cool. Speaking of actual racing, I actually received my watch. We did a giveaway with... We partnered with, Undone Watches and Williams Racing, and I actually won a watch. So I actually just received it, direct from Tokyo, which is kinda cool. I got it after, like, three months. This was, like, back in December, but it was pretty dope. Pretty, pretty cool. Pretty cool. But, yeah, man, a lot cooking on the timeline I saw today. We could talk about maybe crypto backed mortgages in a few when maybe a few more people get here. But, Milo, shout out to you. I see you. DocNooNoo, what's up? AMG, what's cooking? Yeah. I I guess we'll just kinda go down the headlines again, guys. We don't gotta go to full 90. I guess everyone's kinda... The... Maybe the the nice weather kinda caught everybody here, but maybe some some folks will kinda kinda pile in. But Kathy Wood says ArcVest bought $16,000,000 in Circle shares as the stock tumbled 20% on news impacting stablecoin business. This was this was the the news off the stable... Off the the Clarity Act. A lot of people didn't like what was in there, but also USDC... I mean, Circle has... Was up a 100% month over month. So they were definitely due for a pullback at some point. But, yeah, I I don't know if this is the the biggest news, but when you see smart money starting to pile in now, like, I think that that pullback was probably an amazing buy opportunity for a lot a lot of folks. But, yeah, I guess we'll see, we'll we'll see how the circle thing plays out. Hype treasury company, Hyperliquid launches options trading on per common stock via Nasdaq options market. Hyperliquid just a... Is just a beast of its own, man. They have so much cooking. It is kinda nuts. I feel like Hyperliquid is not I can't... Do you guys consider Hyperliquid an alt? I don't really consider Hyperliquid an actual altcoin. Kanter, what do you... What what do you say? You you you see Hyperliquid as an altcoin?
[0:08:05] Kantorcodes | ℏol/acc @Kantorcodes: I mean, it depends. It's like, do you consider Chainlink or Layered Appear Hope as an alt coin? It... It's kinda weird. The whole dichotomy of what is an alt has kind of evolved. I think for a long time, anything that wasn't Bitcoin was basically an alt. And then Ethereum came around, but everyone's like, no. Now it's Bitcoin and Ethereum. And I think that is evolving a lot. Like, you wouldn't call USDC an altcoin, would you? That's just, like, a weird thing to say. I think hype has kind of created its own category at this point, and I think that it... It's kind of about thinking categories and who's a category leader. And then the things under that category, those can be alts, I think.
[0:08:51] Dave @DCBK2LA: True, I guess. Brad, what do you... Do you see hype as, an alt? Like, do you look at Hyperliquid as an altcoin?
[0:08:56] Bread @_ToastMalone: No. No. Pretty much what Cantor said. I think, like, it's like a pseudo... It's like a a bridge coin, I would say, or, like, a bridge token because it's taking... Essentially... It's... And I'd consider chain, like, the same thing. You know? It's bridging gaps between try... You know, TradFi and, you know, I guess, the old way off chain of doing things and bringing it on chain in either a financial sense or a sovereignty, providence, you know, whatever you wanna say, sense. You know? It's not really an all. You know? And it's not really... I mean, yeah, either like a bridge corner may... Maybe fringe l two type something.
[0:09:35] Dave @DCBK2LA: Yeah. I kind of agree. I just feel like it's doing its own thing. There's, like, the... There's there's smart, smart, smart money that backs Hyperliquid, and I don't know. Yeah. Maybe you're right, Kanter. I don't know. Do I look at Chainlink as an altcoin? But, yeah, how chain... I don't know. How Chainlink is still at $10 is kind of... It boggles my mind, when it's literally the infrastructure of fucking everything is still kinda crazy to me. But... Yeah. Anyways, maybe I can get us a a hyper liquid maxi to come in here and see what's what.
[0:10:06] Kantorcodes | ℏol/acc @Kantorcodes: It haunts me to this day. I had chain link when it was at 20¢. And back then, I was like, it's... There's no way it's gonna break out. And I had already done, like, a five x. I I bought in very, very early, and then I see it rise up to $2 and then $10, and then it just keeps going. And I... I'm still so bummed about that.
[0:10:30] Dave @DCBK2LA: Yep. 20¢.
[0:10:32] Kantorcodes | ℏol/acc @Kantorcodes: Yep. That shows how early I've been.
[0:10:35] Dave @DCBK2LA: You wanna know something? You wanna laugh? I actually had NVIDIA. I had NVIDIA stock when it was 80... When it was, like, 80 something cents. It was my it was my junior year internship at college. This is literally the year 2001. Okay? For those that are dating me, 2001. Okay? Two thousand and one, eighty cents. The guy was like, dude, they're putting these graphics cards in these, like... In Xbox, and it's gonna be all the rage. And I'm like, what in the world are you talking about, bro? He's like, just go get coffee. And I'm like, okay. Fine. Let me go get coffee. Is this gonna be on my resume? And he's like, yeah. Yeah. Yeah. Don't worry. Bro, go figure. You never know where the gems could come from.
[0:11:11] Landy @CryptoLandy: If I
[0:11:11] Dave @DCBK2LA: were to listen to that guy and put, like, half the money of my my student loan that I took out that I just blew on coronas and black house shots, you know what I mean, at the local bar, I would have been so much better off. So much better. But, anyways, there we are. Let me see what else we got cooking. Pudgy penguins launched PenguCard on Visa in partnership with Cast. I feel like it's been out for a minute. Now available across a 170 plus countries and a 150 plus merchants globally. Are you guys pulling out a black card with a penguin on it at the restaurant to pay for dinner with you and your girl? Bread, what do you say? Yeah.
[0:11:48] Bread @_ToastMalone: Bread's I'll be right back. I'm running into story.
[0:11:51] Dave @DCBK2LA: Yeah. Yeah. You're good. You're good. You're good. Cantor, are you pulling it out?
[0:11:56] Kantorcodes | ℏol/acc @Kantorcodes: It depends. What's the rewards on it?
[0:12:00] Dave @DCBK2LA: I actually don't know. I don't know. But I feel like that's the whole thing with a lot of these cards. Right? It's like, what are the actual rewards? Right? Like, what is this? Like, what am I getting? I don't know. I'm big on the... On on on a lot of these cards. I like testing them out. I didn't get... I gotta I gotta... Actually, I'm lying. I do have a cast card, like, the virtual one, I think they're mailing me one of the other ones. I like getting them just to kinda see kinda, like, what's what? Like, what are the actual rewards. But there's never really... You know, other than, like, you know, Coinbase, like, the one... Coinbase One card that gives you, like, 4%, like, cash back, like, in Bitcoin. I feel like... I think there was one other one that was maybe, like, EtherFi that was, like, really, really good, but they've gone really downhill, man. Like like, the cards nowadays are just not the same. You know what I'm saying? Like, they're just not. Like, before we were getting, like, 57% back return, and we used to pick the altcoin that we wanted. You know? I was getting, like, XLM for every purchase that I made with my Coinbase card. Now I get, like, 1%. Like, we literally reverted back to, like, how we were with all the banks. So, yo, card companies, if you're listening, a, sponsor the show, and b, step your game up, man. Like, step it up. This is crazy. This is fucking nuts. I don't know. Anyways, what else we got cooking? What else do we got? US five year treasury yield jumped to 4%, marking a nine month high. I don't know. All these guys talk about Nat and Landy over here. It's like, no. No rate cuts until the end of the year until the end of the year, but shit might get... Yields might start jumping a little too high for them to not really, like, start to consider this stuff. So who knows? But I don't... I'm not I'm not the rate guy. I'm not the economist even though I was an economics and finance major. Don't ask me anything about economics, or charts. I am not the person for it. Hence why Landy and Nat not being here, you guys are screwed today. So it is what it is. No talk of treasury yields. Alright, fancy pants? It is what it is. Koma just came up. Koma, what's cooking, bro?
[0:14:02] Kkoma @itskkoma: Hey. Sorry I'm late. Yeah. What have what did I what have I missed more than anything? I was just watching some soccer games, so I was like Not much. Just kinda
[0:14:12] Dave @DCBK2LA: Not much. I pretty much just fired the entire ATC staff even though I didn't show up for half the week. But I get a pass, obviously, since I am the proprietor of this establishment and this institution. So everybody's fired except you, actually. You know what I mean? So you're good. So I'm glad that you're here.
[0:14:31] Kkoma @itskkoma: Yeah. It's gonna be chaos today then, it seems, because it's just me and you, buddy.
[0:14:35] Dave @DCBK2LA: That's right, pal. Let's fucking go. I'm ready to fucking... You ready to tear shit up out here or what? Look. You got any fun stuff for us to talk about other than, like, oh, BTC options and BlackRock and Larry Fink. Any drama? Any gossip? Or what's going on in prediction markets? What kind of degen shit you getting into, bro?
[0:14:52] Kkoma @itskkoma: Still been doing, like, the poly market. What do you call it? Like, the the LP ing and stuff, but definitely got wrecked a few times. I think I lost, like, 1,100 once just because I was, like, not being smart about it. But luckily, I'm a degen. So like all degens do, you're like, I'll just make it back in one bet, and then I did it. And then, you know, like, it kinda worked out. So... No. Overall, it's been good. Katana listed on, like, some bit... What is that Korean exchange again? Bithumb or bit
[0:15:23] Dave @DCBK2LA: Oh, yeah. The Phantom Bitcoin exchange that dished out, like, $40,000,000,000 in Bitcoin for, like, the clerical error. Love that exchange.
[0:15:29] Kkoma @itskkoma: Is that what it is? I don't know. It's like the Korean exchange, but it Yeah. Yeah. Yeah. It it to, like, 18¢. But, of course, I was, like, sleeping then. So I I was able to sell some at, like, 14. But, yeah, if you have some cat cat tokens, might be a good time too.
[0:15:43] Dave @DCBK2LA: Bro, what's the deal with Korean exchanges, bro? Like, I feel like Korean exchanges... Like, Korea... The Korean, like, crypto, like, I guess, audience is, like, super flush every single time. It never fails, bro. Like, the Korean audience is literally flush with money, and they're the ones that are always, like, pumping stuff.
[0:16:03] Kkoma @itskkoma: Yeah.
[0:16:03] Dave @DCBK2LA: At least.
[0:16:04] Kkoma @itskkoma: Yeah. Gambling is not legal in Korea, ironically. So you can't go to, like, casinos. You can't, you know, do that kind of stuff. And from my understand... I don't know if this changed or not, but there's no there's no there's no taxes on your crypto. So... Until further notice. So, basically, every... Everyone's just trying to leverage the current situation to maximize their profits. And compared to The US, the Korean salary for, like, someone that's... Like, a software engineer might be, like, somewhere between, like, 40 to, like, 70 k a year. So... And then to get a house or... Like, I guess, in Korea, you normally buy houses, but they buy apartments. But it's not one of those things where it's like, you put, like, a 20% down and then, you know, you do, like, these, like, monthly payments or whatever kind of thing. It's it's... It pretty much, like, have to give, like, a huge lump sum of... To to to, like, get the apartment. And no one could actually afford to do that, especially when you're on, like, 40 to, like, 70 k salaries. So a lot of young adults are trying to find alternative ways to make money and make money quickly because the current system of making money is kinda not helping them in that way. And so if you're not getting taxed in crypto and you're earning money in crypto and you could, like, leverage some of these, like, crypto credit cards or whatever to pay for your stuff, then, yeah, that's how they're doing it. And then, apparently, like, you could actually take it out and convert it into cash after, like, fifteen to twenty years or something like that or, like, ten years or something, I think. And then it'll be, like, completely tax free tax free. So, yeah, it's a pretty interesting, like, lifestyle there. I I only learned this because I was, like, talking to some people I met through Kaido last time I was in Korea. So... But, yeah, it was it was a pretty eye opening experience from my perspective.
[0:18:03] Dave @DCBK2LA: Got it. Yeah. Yeah. I know you spent some time over there. So... Yeah. In... Super interesting stuff. Yeah. Korea. Go figure. Apartments.
[0:18:12] Kkoma @itskkoma: I think I think you'll really like going to Korea too because they love, you know, drinking and, you know, like, a lot of expats love to visit there at times.
[0:18:19] Dave @DCBK2LA: So Did you just call me a drunk?
[0:18:22] Kkoma @itskkoma: Basically, yeah.
[0:18:23] Dave @DCBK2LA: Drunk a Yeah. I mean, listen. That was back in my head. That's back in my old days, bro. That's no more. You know, I've turned over a new leaf. I'm not a drinker anymore.
[0:18:32] Kkoma @itskkoma: We'll see when you get there.
[0:18:34] Dave @DCBK2LA: Good point. Yeah. Good point. Good point. Good point. Okay. Sweet. Sweet. Sweet. Sweet. Let me see what else we got cooking. Oh, by the way, there's open auditions today for all things crypto. So if you'd like to request the mic and come on up, we're auditioning for open slots because we're firing all the staff minus coma. So if anybody wants to come up and, you know, open tryouts today, you know, kinda shoot your shot, and maybe you end up with a spot on the panel. You know? Who knows? Maybe we do, like, a probationary period for, a month. You know? Like, we'll see. But feel free to come shoot your shot. You know what I'm saying? Like... And... Yeah. Alright. I like the initiative. Okay. Look at this. Everybody's shooting their shot. Either that or they're all in a group chat together being like, let's go up and support Dave, which is fine also at the same time too, but I love these ladies either way. I saw... Okay. Look at this. Open call. People are shooting on up. DocNooNoo, what's up? How are you?
[0:19:27] DocNooNoo @doc_noonoo: Hi. I'm here to audition for whatever position is available.
[0:19:32] Dave @DCBK2LA: Yeah. Yeah. So let me maybe just explain how the audition works. Right? So you need to come up with, like, a story, not like invent a story. But if there was
[0:19:42] Kkoma @itskkoma: some You're hired.
[0:19:43] Dave @DCBK2LA: No. No. No. Wait. No. No. No. You have to come up with some sort of a story, right, in order, like, crypto related or adjacent, right, in order to be able to be considered. And then if you get selected, you will then become part of the one week probationary crew that will be incoming next week. So... Yeah. Everybody feel free to shoot your shot. I like this. Everybody, look at all look at all the the request now all of a sudden. This is amazing. So, DocNooNoo, please, if you have some time and you'd like to come, like, bring the most fire story you got. You know? Bring the most fire story you got. Let's go to Metavision, who I have a feeling isn't gonna say much, and then we'll go to Widow to see how they're gonna do. But hey hey, Metavision. What's up?
[0:20:33] Dave @DCBK2LA: Wait. Wait. Wait. No. No. No. Hold on. Hold on. You're not you're getting off the hook right now. I need you to say... I heard you've been talking. You've been whispering to people like,
[0:20:40] Landy @CryptoLandy: hey, guys. I love you.
[0:20:41] Dave @DCBK2LA: And all this shit. Okay? If you don't do that on this space right now, that's it. You're you're you're gonna be exclude... No. Don't thumbs down me. You're gonna be excluded from all consideration.
[0:20:52] Kkoma @itskkoma: You're in. You're in, Metavision. Congratulations.
[0:20:54] Dave @DCBK2LA: Come on. Zip it. Shut up, guys. You guys are not helping this cost. Was she kissing the phone, or was that the baby? I can't tell anymore. Well, my senses have all gone. It is what it is. But Widow came up. Widow, what's up? Are you here to audition and here to try out?
[0:21:11] Widow | collab manager @TheOnlyWidow: I'm here to audition. I don't bring a whole lot to the table, but I am pretty tits deep in the NFT space. So I do, I showed a couple of up and coming projects in the last spaces we are in to keep an eye on. So if that is in the realm of all things crypto, please kindly consider me. Thank you.
[0:21:33] Dave @DCBK2LA: Yeah. Don't sound so excited. Don't sound so enthusiastic, you know, on your, on your, you know, on your tryout, but, we appreciate you coming up. But, yes, all things crypto is absolutely NFT related as far as the shill goes. You know, maybe make it relevant instead of just a straight shill. You know?
[0:21:50] Widow | collab manager @TheOnlyWidow: What do you mean make it relevant? Like, it's... Like, what do you want from me? Okay. So I can put more pep in my steps, some some more enthusiasm.
[0:21:58] Landy @CryptoLandy: I like that.
[0:21:58] Kantorcodes | ℏol/acc @Kantorcodes: I got
[0:21:58] Widow | collab manager @TheOnlyWidow: that. Okay. But what do you mean, like, straight chill? You came... You said come up here and chill you. You were auditioning. Like, I'm chilling myself.
[0:22:06] Dave @DCBK2LA: No. No.
[0:22:07] Widow | collab manager @TheOnlyWidow: No. Mean,
[0:22:09] Dave @DCBK2LA: I guess think about it this way. Right? Like, would you wanna be in the audience, like, just hearing about, like, random NFT projects? Like, we gotta make it somewhat relatable. Right? Like, because Landy and Nat talk about,
[0:22:19] Agent Naeem @AgentNaeem: Bitcoin and levels and liquidity and GMA, MACD.
[0:22:22] Widow | collab manager @TheOnlyWidow: Yeah. I mean, if there's definitely... I've had since I've been kind of, stalking doc because I love her, following her around. I have had so many people ask me, like, what is up and coming? What is something I should look for? What is a white list I want? So, I mean, I personally think it's an easy way to potentially look for financial opportunities for some gains.
[0:22:47] Dave @DCBK2LA: I like that. I'm sold. Alright? So you put your list together, and we will absolutely come back to you. Raise your hand once you're ready. We will definitely come back to you. I don't know why many people are... Colma, are you kicking people off the stage? Like, are you power tripping right now? Like, what's going on? Nope. Nope. Nope. Nope. Okay. Okay. Fair. Fair. I just need to make sure. But Ryan came up
[0:23:06] Ryan @Rlad1776: Yeah. I just I just came up to say you have fucking absolutely lost your mind if you think I'm going to position myself for an opportunity to replace a Caribbean Latina from The Bronx who can probably easily find me and kill me, and you really should be fearful of your life right now.
[0:23:29] Dave @DCBK2LA: For the record, I did not say that. I did not say that we were replacing anyone with just open auditions to keep the pipeline full. You know? Dave Like, that's
[0:23:38] Ryan @Rlad1776: We Yeah. The intimation was there. We all understood it. And I just... Since this is being recorded, I just wanna go on the record and say, I'm fighting for those that are not here to fight for themselves. Thank you.
[0:23:54] Dave @DCBK2LA: Oh god. Koma, kick him down. Kick him down right now, bro. Like, we don't need this shit up here today.
[0:23:59] Ryan @Rlad1776: I'll do it myself.
[0:24:02] Dave @DCBK2LA: Listen. Listen.
[0:24:03] Kkoma @itskkoma: You you don't wanna speak today or just No.
[0:24:07] Ryan @Rlad1776: I'll just come up and, you know, support the real leader of the clan when she's here. And
[0:24:13] Dave @DCBK2LA: I pull this over here.
[0:24:14] Kkoma @itskkoma: Who's the leader of the clan? Is it Dave or is it Nat Nat?
[0:24:17] Dave @DCBK2LA: Oh, you're Oh, shit. Coma is dead. Oh, shit. I like... Oh my god. Coma. Let's go. Coma as co... Coma for cohosts, coma for vice president, coma for everything right now. Let's fucking go. Time I
[0:24:34] Kkoma @itskkoma: have power. This
[0:24:35] Dave @DCBK2LA: is I like this coma. I like this version of you. I gotta be honest. This suits you. It suits you well. You know what I mean? It suits you amazingly. Let's go to samurai real well. Samurai, give me one second. Ladies first, we'll go DocNooNoo, and then I'll come to you, samurai. But, DocNooNoo, yes. Go ahead.
[0:24:48] DocNooNoo @doc_noonoo: Did I make it through? Like, I don't know because, like, I I shot my shot and then I got robbed nine times and I'm back and I have no idea what happened in between. So did I make it?
[0:24:58] Dave @DCBK2LA: Okay. What do mean did you make it? This is... What are you? The 50¢ of, like, Twitter spaces? I got shot nine times. Listen. No. You didn't make it yet. You have to audition. Your audition is not just, hey. Like, look at my pretty face and my pretty PFP. That's not what it is. Okay? Your looks might get you by in real life. Alright? And even though nobody knows what the fuck you look like, but still, okay, you need to audition here. Right? You heard what we said to Widow. She's now gathering her facts. She's ready she's readying her NFT pitch for everybody, some white list spots maybe. So, like, if you have any relevant stories, DocNooNoo, we are open to hearing them. We would love to hear them. Anything that's relevant to the crypto space today.
[0:25:37] DocNooNoo @doc_noonoo: Does blackmail count?
[0:25:39] Dave @DCBK2LA: I'm sorry. What? Who who blackmail? Blackmailed who?
[0:25:41] DocNooNoo @doc_noonoo: Oh, sorry. I forgot we're on a public space. Yeah. Me and Widow come as a package. So, like, I'll let her pitch. And if you take her, then I'm... I come with it.
[0:25:50] Dave @DCBK2LA: I feel like you could you... I feel like you could you could contribute here. I'm just saying. I feel like, you know, we all know the caliber of intellect that is washing around in that, you know, blue haired brain of yours. You know what I mean? So at the end of the day, I I have confidence in you. So put something together. I feel like you can do great. Okay. We're gonna go to Samurai, then AMG came up. Naim came up. Samurai, go ahead. And I can't see hands, by the way.
[0:26:12] Voice I: Yo, Dave. What's up? Actually, I am not here for the audition. I actually just have something to share from CTNG and... I know even if I participate, you know, I can't win. Yeah. We have lots of, I mean, intellectual guys here. We have Metavision, and I believe she obviously won. Yeah. Actually actually have, you know, some questions to ask you guys. I'm sorry. This might not be part of the line, and I'm actually bothered. And someone mentioned being a d g in here. I quit d g because, god, I was rogue so many times, bro. Maybe because I'm not really experienced because I actually just got to the crypto space not quite long. I think maybe two, three years ago. And, yeah, I'm still trying to, you know, learn and, yeah, get on my feet. So, yeah, right from C T N G... Yeah. I'm in Nigeria. N G means Nigeria. Yeah. So speaking for my brothers from Nigeria, actually, C T N G, and I think 60% of us, they are jobbers with three jobbers. And, yeah, I have a question, you know, after pitching as, you know, marketer for actually a token on a real blockchain, actually, Axiom blockchain, and it's actually my first time hearing that blockchain. And, you know, the CEO of the project actually said, I should go for a week trial before I could actually get the job. And, yeah, I'm confused why I actually need the trial, but perhaps he wants to see the maximum output I can, you know, provide. So what what strategies or what do you advise? Sorry to ask, but, you know, I'm fighting experience.
[0:28:03] Dave @DCBK2LA: Great question, bro. This is a great question, Samurai, and I love that you asked it. Right? So everybody... You see how fast everybody requested because they wanted to come try out here? Nobody here gets paid, and they still hit the request button super fast. You know why? Because they want to be part of a brand. Right? A brand that is recognizable, that is reputable, and that people respect at the end of the day. You know?
[0:28:24] Agent Naeem @AgentNaeem: Wait. We don't get paid?
[0:28:26] Dave @DCBK2LA: Wait. No. No. Nobody gets paid. Nobody gets paid. But... Yeah. No. Oh, oh, hey. Yo. Hey. Chill up. But, Samurai... And I will let... I'll pass this around. Like, we'll pass the mic on this one because I'm sure everybody here, right, is doing something in some way, shape, or form in some capacity, right, that's getting paid, like, in web three of some sort, like, maybe. But for me, particularly, anyone that says, oh, let's try you out for a week. It's like, alright. How much are you paying me for that week? Now you might be in a little bit of a different situation because if you just started in web three, right, you have to put some time in. Right? If people don't know your name, they don't know your brand, what you can do, what you can deliver. So, like, define who you are and what your brand is and what you can bring to this project. Right? Because if somebody came to me and said, hey, man. We wanna try... We wanna test you out for a for a week. It's like, okay. Right. Right. My rates don't change. Like, that... That's fine. Like, you can put me on probation, but I don't care what it is, but, like, you're still gonna pay me for the week. Right? If you want me to deliver something for you because I've built audience. Right? Like, I have... Like, when you look at my cohosts and my other hosts, like like, when you look at, like, the full body of work, like, what does that say? So you have to think about that, like, yourself. You know what I'm saying? That's just my take on it. But, like, I don't do shit for... I don't... For... If... Bro, free? No. No. No. No. My sweat equity time has come and gone, bro. Like, that's it. Oh, you're gonna get equity or we'll give you NFTs when we mint out and... Brother. Miss me with all of that money up front or I do not work. You can't do it? God bless and move on. It is what it is. But, yeah, let's go to Widow, see if she's got some, some gold for you. Go ahead, Widow.
[0:30:11] Widow | collab manager @TheOnlyWidow: I... I'm working on it right now, on my computer. I just wanted to follow-up on what Dave said is there is a period of sweat equity in this space, and that is a very good point to, like, highlight is that in order to get noticed and get, you know, the credentials that you need and to get the rapport with the people that you need it with, you do need to put in some time to sweat equity. But that's not, like, that's not a lifetime thing. That's not, long term goals. It's just get the experience that you need. Get in the rooms with the people that you need to get in the rooms with. Work for free. Work your ass off. You need to show and prove that you can work harder and faster and better than everybody else that is in your niche competing with you. Because if you don't, you're replaceable. So, essentially, you put in your time, put in your sweat equity, and then don't do anything for free. Half up front, always, always, always, because I know so many people have been burnt and rugged of, oh, I'll pay you at the end. No. No. No. No. I don't do shit. I won't get out of bed unless I get half up front. Like, I'm not doing it. So, it's... That was really good insight from Dave.
[0:31:22] Dave @DCBK2LA: Let's go. Appreciate it.
[0:31:23] Bread @_ToastMalone: Yo, Dave. Where did Widow come from? She's dope. She can stay.
[0:31:28] Dave @DCBK2LA: Let's go. Brad, you wanna talk about your jadedness? I mean, we just got... I got back I got back to back rug between aligners and Zyber. Brad got... Brad actually built the only working product for Zyber and still didn't get fucking paid. How crazy is that shit? Like... So, Samurai, understand your value, bro. Bread, go ahead.
[0:31:45] Bread @_ToastMalone: Oh, yeah. No. I was just gonna say it's, it's a numbers game out here. Right? I mean, like, I've gotten equity in lieu of payment from, like, eight startups, and, like, six of them are worth zero. You know what I mean? And so, like, yeah, always get cash too. Right? Well, a 100%, 50% upfront or some sort of... Like, that's baseline. Absolute baseline is 50 upfront. Maybe it can be 40 if there's extra shit on the back end, and then you're kinda like, yeah. You've got skin in the game too, which I think you should. If you're gonna work in this industry, you have to know that, like, it's startup life. It's rough. You know? And, like, you have to really give a shit and really push and really drive because there's a billion people out here that, like, want to to have, like, your position in the job.
[0:32:26] Landy @CryptoLandy: Did you
[0:32:27] Kkoma @itskkoma: just say you gotta drive while you're driving?
[0:32:29] Kkoma @itskkoma: This is, like, classic bread right here.
[0:32:31] Kkoma @itskkoma: Yeah. You gotta earn the bread while you're drive... Like, if you
[0:32:35] Kkoma @itskkoma: have the drive, is that what you're gonna say afterwards?
[0:32:40] Dave @DCBK2LA: Let's leave it at the
[0:32:41] Kkoma @itskkoma: Oh, man. He... He's
[0:32:58] Dave @DCBK2LA: Right? Like, I don't know if I've ever told y'all... AMG, I'm coming to you right now. I don't know if I've ever told y'all, like, what... Like, the dream that I was sold on aligners. Right? Because for me, I was like, I saw Infofy. Right? And I saw what previous projects did. I saw how they cooked. I the amount of money that was flowing around. Right? Like, you you guys, for those that are ATC face, but you you came in here and you heard coma story with insomnia. Right? Like, you... Like, there was massive success stories, and my opinion was like, yo. If I get one of these gigs, like, this could be it if I'm on one of these teams. Little did you know. Like, the the other thing, Samurai, is watch out for delusional founders. But, bro, I was promised 2% equity, 10,000 USDC upfront upon launch in addition to, like, all of, like, my, like, my position on the leaderboard. Bro, I was promised the $6,070,000 dollar package when it was all said and done plus a monthly stipend. It's only in the... And you want to believe that, bro. Right? You genuinely do, but it gets to a point where you're just like, what am I do... Like, how did I manage to get... Like, you drink the Kool Aid because you want it so bad. And what has come before, you're just like, this makes sense. So really just be smart about every opportunity and vet the shit the fucking the hell out of them. Like, real... Like, you vet them. You know what I'm saying? If the people can't see that, like, you're asking questions for the right reasons, bro, it's not for you anyway. You're saving yourself headache, and you're saving yourself time because time is the most valuable commodity that you have in this space. It's everything. And people will look to occupy that time and take advantage of that time until you tell them stop. Period. No one's gonna offer you. Just like in the real world, bro, nobody's offering you free money. The same way that when you're up for a promotion, I love how people are just like, why couldn't they come to us and say this, this, this? What do you mean come to you and say this, this, this? Like, what does that mean? You have to go out and take what you want. Go get what you want. This is not how the real world works. Yeah. But anyway, Samurai, hope that was awesome.
[0:34:55] Ryan @Rlad1776: Hang on.
[0:34:56] Bread @_ToastMalone: Am I back?
[0:34:56] Dave @DCBK2LA: Yeah. You're back. We got you.
[0:34:58] Bread @_ToastMalone: I was on long enough to hear Coma talk his shit, and, like, I like that movie and where it's going.
[0:35:02] Kkoma @itskkoma: Earn your bread, my
[0:35:03] Kkoma @itskkoma: my man. My man. I was gonna say, earn your bread, my bread.
[0:35:06] Dave @DCBK2LA: You said, earn
[0:35:07] Bread @_ToastMalone: your bread, my bread. Yeah. Yeah. But, yeah, essentially, all of that summarized into, like, yeah, grind, like, your ass off in this industry and ultimately let your let your rep speak for yourself. Let your work speak for you, you know, because that's really what it's about out here. And, ultimately, it will lead to, you know, potentially major companies if you wanna go that route. Wasn't the route for me. I went into the corporate side of Web three and stuff and then kind... Kindly saw my way back out.
[0:35:35] Agent Naeem @AgentNaeem: What's your ethos go, bro?
[0:35:37] Dave @DCBK2LA: I was gonna say it's because you invested in potatoes, but that ethos won. I'll I'll I'll let that one play that one
[0:35:42] Landy @CryptoLandy: for me.
[0:35:42] Bread @_ToastMalone: Oh, no. No. No. That's why I'm not a trader, bro.
[0:35:45] Dave @DCBK2LA: I don't know what the hell you... Bro. Oh my god. We know it. Because we have to go down Ethos right now, Naeem. Let me go to AMG real quick, and then I'll come back to... Right back to Naeem. AMG, go ahead.
[0:35:55] ΛMGӨӨD🇳🇱ᄃIƬY @amgoodcity: One minute. I'll be right there, bro.
[0:35:58] Dave @DCBK2LA: I love that too. You see, you gotta have fucking balls of steel out here. You know what I'm saying? Like, conversation's flowing. He's got his hand up. He's like, bro, just chill out for a minute. I'll be right back. I'll be back to you. I'll get right back.
[0:36:07] Landy @CryptoLandy: Sorry. Sorry.
[0:36:07] ΛMGӨӨD🇳🇱ᄃIƬY @amgoodcity: I was gonna say tire tire one, the crackhead, bro. There was 58 votes in five hours. Last week, there were 355 votes. So that's news just in. That's mental, bro. I don't wanna replace Landy, Nat Nat, or or Cool Crypto because they're legends. Right? And I'll just be like a bench warmer whenever necessary, but I'm in the trenches. That's all I'm saying, and I'm out.
[0:36:27] Dave @DCBK2LA: Let's go. I mean, if that was your audition, you failed, but, come up with a story, and then we could be good, bro. You know what I'm saying? Like, I feel like you can crush, a delivery. You know what I mean? Yeah. Naeem, you got something, and then I'm gonna go back to Widow. I think she said she might be re... Again, guys, I can't see hands. So if you have hands up, just let me know or, like, just chime in.
[0:36:44] Agent Naeem @AgentNaeem: Yeah. Just head over to Widow. I'm just up here. Just chilling. Just chilling. Yeah.
[0:36:48] Dave @DCBK2LA: Now all of a sudden, you motherfuckers want engagement form? What the fuck?
[0:36:51] Agent Naeem @AgentNaeem: I couldn't split the space, bro.
[0:36:53] Bread @_ToastMalone: Like, I'm
[0:36:53] Agent Naeem @AgentNaeem: just chilling.
[0:36:55] Dave @DCBK2LA: Let's go. Widow, are you ready for us for your for your audition
[0:36:59] Landy @CryptoLandy: walk?
[0:36:59] Dave @DCBK2LA: I've
[0:36:59] Widow | collab manager @TheOnlyWidow: I've got four projects that people should be keeping an eye on. So we're gonna start with Goblins NFT. It's spelled kind of dumb. It's got a zed, and instead of an I, it's a y. So Goblins, NFT. And it really, reminds me of if you're into, like, adult Schwim, it's got a lot of really fun characteristics like Futurama or, Disenchanted. So the cartoons are really good. They're all hand drawn. So I actually got to sit down with the founder, MagicBert, and he did a AMA with us in connectivity and did some hand drawings. So it's definitely something that's, like, out of the box. The art's kinda grimy and weird. It's very hand drawn, but it's really cool and it's got tons of personality. So that's number one. Papeka's is another one. It's spelled Pepe gas, basically. And it's a small collection. It's one one one, all one of ones. So super small, something that's super hyped right now. We've got Remico, which is an, it's anime, but they've got an AI angle to it. So it's through application right now. So all you have to do is kind of apply, the application super generic and boring, but, they're really, really standing up, for art. So just... I tossed a few images through chat GBT, but that is definitely something, to keep an eye out on. And then Little Guys World, I did show in the last spaces I was in, and it's just, like, very nostalgic. It's kinda offbeat, very childlike toys, but the colors are vibrant. It's kinda eerie. So it's definitely another one. And I believe they're all free. So that's also good. Free is good, especially if that shit camps. So those Let's go. Yeah. Four projects.
[0:38:58] Dave @DCBK2LA: Love that. Love that. Love that. And should people get in your DMs if they want more information, or where should you send them?
[0:39:05] Widow | collab manager @TheOnlyWidow: Yeah. If they want... If my DMs are open, so you can just slide right in, and then I can give you the handles. And if you guys need connections to the CMs or if you have a, project you're representing and want spots for your community, you can definitely do that.
[0:39:21] Dave @DCBK2LA: Let's go. Well, I'm gonna come back to you in a few because I I generally want to know what a collab manager... I was talking to DocNooNoo about this the other day. I'm like, what do collab... Like, what is the function and the purpose of collab managers? I genuinely don't know. Like, I I have... I'm clueless as
[0:39:34] Widow | collab manager @TheOnlyWidow: Okay. You come back to me.
[0:39:39] Dave @DCBK2LA: Okay. Sorry. I also got rubbed at the same time. But, yes, I will definitely come right back to you. Fred, go ahead.
[0:39:46] Bread @_ToastMalone: Yeah. A couple of questions. Right? So goblins. Right? Obviously, first thing that comes to mind is the original goblins, NFTs, and that whole time and period in the space. Right? Like, is there any affiliation? And then overall, like, what chain are all
[0:39:59] Widow | collab manager @TheOnlyWidow: of these? Okay. So it's not associated with... I'm assuming you're meaning Goblin Town?
[0:40:07] Widow | collab manager @TheOnlyWidow: Yeah. Know you are. Exactly. With Goblin Town. I wish I could just, like, I guess I could just put a list under... In the comments on the spaces. So Goblins is minting on base, which I'm not particularly bullish on, but it's free. I mean, there's no risk. Right? So what's the worst that can happen? You mint something for free that's gonna cost you a couple cents in transaction fees, and then it moons, or you've got something that you're holding, which, you know, we're all big holding a bunch of stuff that we're not particularly proud to say that we have. But, like, when I say, like, the art is very, like, adult swim, like, I look at it and, like, I don't know if anyone's familiar with Disenchanted, but I love that show, and it looks just like Alfie. Like, he's very... Like, it's just all very unique. So that one is minting on base. I believe Pepe Gas is on ETH. Remy... Remyko is on ETH, and Little Guys World, I believe, is also on ETH. I am an ETH Max ETH, full disclosure. So that's
[0:41:15] Dave @DCBK2LA: Is Remco part of, like, the whole, Remillia Remillia?
[0:41:19] Widow | collab manager @TheOnlyWidow: No. No. It's not. So, here. I've got I've got everything up right here. It is on ETH. It's gonna be AI, backed, So they're probably gonna have some sort of AI bot on their website for... I'm assuming it's probably gonna be, like, persona where you can just kind of add in, or make your character do sorts of things. I mean, I'm not super bullish on art generative AI backing, but the art is really clean, and it's really cool. Like, I said in the last spaces, like, it could replace my elemental PFP. Like, it's clean. So, but, yes, eat eat eat base.
[0:42:06] Dave @DCBK2LA: Copy. Okay. Cool. Love that bread. You don't gotta buy potatoes anymore, bro. Stick with widow, and she'll, she'll hook you up so you don't freaking rug yourself over and over again. You know?
[0:42:15] Bread @_ToastMalone: Bro, potato was on base, and, like, you know, it might come back.
[0:42:19] Dave @DCBK2LA: That's true. Fair enough. Potato on base, that might come back.
[0:42:23] Bread @_ToastMalone: Yes. No. That's, like... Just hearing myself say that. No. Like, I'm delirious.
[0:42:27] Dave @DCBK2LA: I could tell. I could tell. I could tell. Okay. If any... Nobody has has any other real stories. Maybe we get to some real stories. But, Widow, that was amazing. Thank you.
[0:42:37] Agent Naeem @AgentNaeem: That was a nice story.
[0:42:38] Dave @DCBK2LA: Get out of Talk to me.
[0:42:40] Agent Naeem @AgentNaeem: I'm I'm not sure exactly how I understand it, but let me let me find it. It was... Pin it. But, like, there was basically some hacker group that utilized ICP to basically hack Iranian machines. And, yeah, it would just, like, spread and delete data from there or some shit. I've just pinned it to the thing. Like, on on on Internet computer canisters, are smart contracts on ICP used in hack of Iranian machines that... Which you classified as interesting. They had... To clarify, they had nothing to do with it. And I think the boundary nodes brought it down, but I think everyone's a bit baffled about as to what's going on. Maybe Brad maybe Brad can look into it and see if he gets what's going on here.
[0:43:26] Dave @DCBK2LA: Interesting. ICP, on chain Internet computer, canvas are using hack on my green machine. We had nothing to do with the... To collaborate. We had nothing to do with this. As I said, the network's boundary was broken.
[0:43:39] Dave @DCBK2LA: Alright. Maybe we do a little bit more a little bit more homework on this one.
[0:43:43] Agent Naeem @AgentNaeem: So, like, the article it said was, what makes this particular tech novel on the technical side is the command and control infrastructure. The control panel of the malware network operators was a dead drop published on an ICP canister, hence the canister worm name. A canister is a type of smart contract, a small blockchain hosted set of code and data that is particularly resilient to being brought down due to its distributed nature. So we were looking at it from, like, a cybersecurity, like, it's kind of dealing with both sides, like, the hacking and the the nefarious side as well as the cybersecurity, like, you know, defensive side as well. So it's a bit weird, but interesting.
[0:44:20] Bread @_ToastMalone: So it's... So it was on... It sounds like it was closer to, like, a 51% attack than, like, an actual, like, smart contract exploit.
[0:44:28] Agent Naeem @AgentNaeem: Yeah. Yeah. It wasn't it wasn't it wasn't, like, it wasn't a a hack of ICP itself. They were just using the software, the technology to... Yeah. I don't know. Don't... I'm not even sure, to be honest. I'm just... I'm trying to figure out is this good for our banks or not.
[0:44:41] Kantorcodes | ℏol/acc @Kantorcodes: I'm I'm just...
[0:44:42] Agent Naeem @AgentNaeem: That's a bit frightening.... Entertaining. Say again, comma?
[0:44:45] Kkoma @itskkoma: Oh, no. I said please keep explaining this. It's kinda entertaining.
[0:44:51] Dave @DCBK2LA: Fucking coma. No. No. Don't listen to him. God. I am... If you wanna do a little more homework on it, like, definitely, like, let me know once you guys are better. More. I mean No. Just sit down. It easy. Overruled. Overruled. Can we talk about this fucking... This mortgage backed... Like, crypto backed mortgages finally? Like, this is what I've literally been waiting for, like, my entire crypto career. I'm not even kidding. Like, get you... It's like... And it came from Coinbase of of all the places. I saw it on Coinbase. Crypto backed mortgages are here, increasing access to homeownership for millions of Americans. Buy a home without converting your portfolio by using BTC or USDC as collateral for your down payment. To be clear... And you don't have to sell your BTC. Right? Like, obviously, like, making sure that everything is in line, but in... And what I mean by that is how much b t... BTC are you putting up? What kind of house are you buying? Right? How much is the actual house and so on? But, like, this, for me in particular, right, like, someone that just had... Like, I've been saving my ass up forever. I own a a couple Bitcoin. Right? And it's just like, what do I do with this now? I'm not a homeowner. Right? Like, I've never been a homeowner, but I want to be a homeowner. This for me is like, wow. Like, I don't have to just sell my Bitcoin, take the cash, and then go put it on a fucking down payment, and then have to worry about what am I gonna do. Right? If Bitcoin actually does... Right? Like, listen. Bitcoin goes to 40 k, right, or 50 k, whatever the case is. Right? From here, let's just say, for example, right, you use enough or you use a certain percentage of that BTC to be able to, like like, partially put down for your down payment, but you're not spending the Bitcoin. This is the beautiful part about all of this. Right? Like, they're holding on to that Bitcoin. Right? And you don't have to ultimately sell. Now you could do it in USDC also, typically the same as, like, cash. But I love the BTC angle because now it's like Bitcoin price goes up back to, let's say, 126,000, 130, 140,000. Now, like, your down payment has just been doubled essentially. Right? So this is gonna unlock so much opportunity for people like me, and I don't consider myself, like, underprivileged at all. Right? Like Mhmm. My fuck ups in my life are my own fuck ups. Right? And my mismanagement of money, it is what it is. But at this point now that I finally been able, like, over the last few years, to been able to, like, save up, right, and be able to, like, have something like this that when the time is right for me to be able to say, hey. I want to become a homeowner, that this is an option now. And Fannie Mae and Freddie Mac also just said... And they... Mind you, these are the the biggest, like, mortgage companies in The United States. Right? Fannie Mae and Freddie Mac, the biggest underwriters of mortgages, are saying the same thing. This is monster monster news, and I don't think, like, if you're somebody that has been looking to buy a home or to be a homeowner, that ship sailed a long time ago. But if you've been in crypto and been managing to kinda stack your sats, right, and your Bitcoin, there's another opportunity for you here because I literally thought I was never gonna be a homeowner. I don't know how people genuinely do it this day and age. I really don't without making a bazillion dollars a year. Right? Like, I really have no idea, but, you know, it gets done. But this is gonna open up so many doors. Yeah. Widdle, go ahead.
[0:47:55] Widow | collab manager @TheOnlyWidow: Well, I've got, like, a couple of questions in regards to that just because, like, it is, you said backed. It's Bitcoin backed mortgages. So it... Like you said, it goes up and it goes down. So my question is, is that gonna... That is gonna reflect... Obviously, it's not gonna be locked in on a certain price, like, when you back it. Is that what I'm understanding?
[0:48:18] Dave @DCBK2LA: Yeah. So you know what? It's a... That's actually a really good clarification because I don't know which one the Coinbase one is offering, but what I do know from, like, my... Like, from history, right, this is essentially saying, we give you the Bitcoin as a down payment. Right? And you can also take advantage of the upside should you want to at some point in the future.
[0:48:38] Landy @CryptoLandy: Okay.
[0:48:39] Dave @DCBK2LA: They just need to hold on to it because it's it's collateral. Right? Like, they're saying, hey. We're using this as collateral in the event that, you know, we need to collect this money or we need this down payment. Right? It's collateral. But it's good. I'll get clarification.
[0:48:53] Widow | collab manager @TheOnlyWidow: And then... And I I also would be interested in, like, taxes on that. Like, what what would that then look like? Would this then essentially be a way to slide your crypto into IRL without having to pay taxes on withdrawing it?
[0:49:12] Dave @DCBK2LA: Yeah. Good point. Right? There's, like, do the regular Bitcoin, like, actual, like, tax laws apply? Obviously, Canada is very different than here in The United States, and as well as also in The Netherlands where apparently they're now taxing you on unrealized Bitcoin gains. But that's a that's a... Another really, really good question. For me, the biggest selling point was like, look. Now you're just holding on to this BTC as collateral. Like, you're pledging that to Coinbase, and it sits with Coinbase as collateral. Amazing. How that's treated on the tax side? I don't know. That's actually a really good question. Let me do... Let me dig a little bit deeper. Let's see where we can go.
[0:49:46] Agent Naeem @AgentNaeem: On the value front, it doesn't... So from what I from what I read earlier, it was... It doesn't influence. So, like, you know, how, like, money markets where you put in collateral and and influences your your your your... What do they call it? The the the debt ratio of... It's cool. I haven't done it well. But, yeah, I don't think it influences that. So the the mortgage rate, the terms basically remain the same essentially.
[0:50:12] Dave @DCBK2LA: Yeah. Coma, go ahead.
[0:50:17] Dave @DCBK2LA: Coma rugged or is it me?
[0:50:20] Bread @_ToastMalone: No. I think he rugged. And my hand was up anyway. Don't know if you could see it. But I'm interested to find out. Yeah. I'm interested to find out here, like, because, you know, the degeneracy that exists out here. So are we gonna have, like, derivatives and tokens and fractionalized deeds of homes you can lend against to get other, you know, liquid stakes tokens and, like, how is that going to affect, like... I mean, because you can obviously, like, reverse mortgage homes and things like that. Well, it's like if your home is backed on Bitcoin, Bitcoin dumps, you reverse mortgage and buy more supply. Like, you're running arbitrage on your own Bitcoin.
[0:50:55] Dave @DCBK2LA: Good point. Yeah. I don't know. I'm sure there's gonna be exotic, like... What's it called? Like, the... Well, this is what Wall Street does best. Right? Like, they literally, like, siphon and create... Hold on. Let me just... I don't know if coma.rug. I'll remove them, and I'll bring them right back up. But, yeah, this is this is what Wall Street literally, like, does best. You know what I'm saying? This is what they do. They're gonna create a million and one different exotic fucking instruments that are gonna be all... A million different kinds of takes of how they can ultimately, like, make money. How this fares for Bitcoin, I I genuinely do not know. I'd... Like, I don't know. Right? I feel like these are all, like, super, super relevant questions. I'm literally talking to GPT now to figure out, like, the tax stuff, price appreciation. Can you take advantage of it? Like, what it actually means? Because these are all really relevant good questions. And specifically for me, because this is something that is of super interest to me. Yeah. We don't go ahead, and I'll say what's up to the puppet.
[0:51:46] Widow | collab manager @TheOnlyWidow: Yeah. No. It's just definitely something too, like, with the, fluctuation of price of Bitcoin. Like, I would really like to know if it was locked in or not because it really could be a huge... I mean, it could be a huge advantage or disadvantage for the baked... Bank for assuming that risk. Right? Like, if you lock in at a $130,000, Bitcoin's at a new all time high, and then it fucking dumps again, then, obviously, the bank is assuming that risk unless it is kind of, like, fluctuates.
[0:52:20] Dave @DCBK2LA: Yeah. But I think that's the benefit of, of actually doing this. So here. Hold on. I'm reading it now. Borrowing against your Bitcoin is generally not a taxable event by itself. The IRS taxes sales and other dispositions of property, and the IRS treats digital assets as property. So if you pledge BTC as collateral and do not sell or exchange it, that usually does not create a capital gains tax at that moment. This is also how Better and Coinbase are marketing this product as a way to fund the down payment without liquidating your crypto. So if you bought BTC at, say, $30,000, it's now worth a $100,000. A normal sale to raise a down payment would usually trigger a capital gain on the appreciation. But if instead you borrow against that BTC and keep ownership of the asset, you typically do not realize that gain just because you borrowed against it. In simple terms, loan proceeds are not the same thing as sale proceeds. So this is super interesting. Right? Like, this is a this is a big deal now because what you're doing here is... Like, remember how we say all the time? You guys remember when we listen to the whole does that make sense? Does that make sense? Does that make sense shit on Reset Sunday a couple weeks ago? Right? Like, the rich get richer from borrowing against the assets. Right? The revenue and cash producing assets that they currently have. Landy, please chime in. You don't have to thumbs down me, but, yeah, like, just jump jump in if I'm saying something incorrect.
[0:53:40] Landy @CryptoLandy: Let's go.
[0:53:40] Dave @DCBK2LA: No. I just...
[0:53:42] Landy @CryptoLandy: I was just messing with you, brother.
[0:53:44] Dave @DCBK2LA: Oh. Oh. I'm like, this this sounds to me like this all is making sense of this.
[0:53:49] Landy @CryptoLandy: No. No. No. You're you're... Yes. You leverage assets, and and that's how you get rich. Yeah. No. You're 100% right. Where where this is all going tits up is this is a Brian Armstrong product. So he is literally the thorn in the side of any legislation that's trying to get done because he just wants to have more products to sell, and he wanted to use USDC native yield to do it and relitigate things that were already litigated. So now he's coming up with more schemes in order to take everybody's money because this will absolutely have a liquidation price. Anyone who thinks that this will not have a liquidation price in which they will transfer your property to them to cover, then you're wrong because that's our... We already do these types of loans. In fact, they're being done all the time with Bitcoin as collateral except it's on paper, not on chain. And then there is companies, Milo. There is a few other companies as well. Milo's usually one that you'll see around some of the spaces. There's always liquidation prices, but this is why it's all about LTV. So at the end of the day, this is all gonna be about LTV. And, look, I I don't like that it's Coinbase doing this. It's it's just... This is this is such a pivot. This is a natural pivot for them, but it's also
[0:55:17] Dave @DCBK2LA: and Freddie said they're doing it too, bro. Like, I saw the news today. Fannie and Freddie. And we've talked about this, like, in previous. Right? So, Landy, maybe just... And I wanna I wanna let you finish it. Right? But But I think the... Like, because as I'm reading this, this is exactly as I expected it, and we don't hear hear me on this one. Right? So exactly what I said before, checks. Right? It... That that that faction checks out. So meaning, you still get the benefit of Bitcoin going up. So you pledge, right, your Bitcoin, right, a certain percentage of your Bitcoin, let's just say, right, as collateral. Right? Now Bitcoin is worth, let's say, whatever, like, $70,000 right now. You, like, you have a $30,000 deposit. Right? You put half... A $35,000 deposit. You put half your BTC up there. Right? Like... Or half, like, half of your, like, one BTC. So now it's like, okay. Cool. I have that. BTC goes to a 126, a 150, 200,000. You can ultimately, like, take advantage of that price appreciation, right, sell, right, at those higher levels, and then come back and pay off that loan without essentially... The whole basis of this is you get to hold on to your Bitcoin. Right? But at the same sense, what Landy is saying is you also... Like, you get... You keep the upside, but you also keep the downside. When So he's talking LTV, right, loan to value ratio, that is a monster thing that people never ever consider and that they absolutely have to. Because you have 1 BTC and your down payment is 1 BTC, don't put down just 1 BTC. Right? Like, that's not the way that this whole thing should work. Right? Make sure you understand exactly, like, how much... If the market does sell off 50%, they 1000% will reserve the right to sell your Bitcoin, to sell that asset so that they can ultimately regain their money so that they are not out money. It's just different banks. Right? Now it's just Coinbase being the bank, which Landy doesn't like, which I I don't... I'm not... You know, at the end of the day, like, you know, pick pick your poison. I don't know whether it's Wall Street, it's Bank of America, whether it's Coinbase at this point. I don't know. But, yeah, like, that that 100% is you take advantage of the upside, but you also take... Like, you also need to keep in mind that, like, you're taking the risk on the downside as well too. Sorry, Landy. Please, if you if if you wanted to finish, I just wanted to clarify that.
[0:57:25] Landy @CryptoLandy: Yeah. I was gonna shout out one of the... One of my badges sponsors, which is People's Reserve, which also does this. Right? So this is not new. It's d... It's it's DeFi loans through centralized platforms. So it's not DeFi. It's CeFi. And what you're likely gonna see out of Fannie and Freddie is they're gonna attract capital in, with really low LTVs. Right? Because they they have to go off historical data for LTVs. That is the only way that they'll be able to do it, right, to stay within the regulatory frameworks for lending anyway. So you're gonna see really low LTVs, probably not anything more than a 50% LTV. And then you're likely gonna see a lot of stablecoin backstopping. This will be a way in which you can offer up collateral via, you know, Bitcoin. You'll also likely... Or very, very highly likely see some sort of stablecoin backstopping as well. So you'll be able to do stablecoins as well. It's just a matter of which one they choose because if it's a Fannie and Freddie program, they have to be very careful. So they might only stick to Bitcoin for a while. Yeah. It's... Look. I I... I'm all for progression of the industry, but this... I don't like the company that's leading it. And, look, I do a lot of business with Coinbase. Right? Like, Coinbase Institutional is something that we use on a regular basis on the mining side anyway. We utilize their OTC. We have our own OTCs. But this is like... But it's it's really... It bugs me that they're so stuck in the process, and also shout out to Ryan for the for the news on David Sachs because he's part of the problem too. But Who? Me?
[0:59:20] Dave @DCBK2LA: Oh, David Sachs. Think you mentioned it.
[0:59:22] Landy @CryptoLandy: Sachs is part of the problem,
[0:59:23] Ryan @Rlad1776: not you, Ryan.
[0:59:24] Dave @DCBK2LA: I know. That was
[0:59:25] Landy @CryptoLandy: pretty funny, though. That was pretty good. I like that. That was good.
[0:59:30] Dave @DCBK2LA: Oh, so, yeah, Linda, I got I got the LTV ratio. So here's what Better is saying. Right? Better is framing... And Better is the is the company for everybody that that that is doing this with Coinbase. They're saying that how it works, like, LTV plays in, 40%. They're not gonna go anything higher than 40%.
[0:59:45] Landy @CryptoLandy: Yeah. So Do they want c b d... CB, BTC, or whatever, the wrap product? Is that what they're taking, or are they taking straight BTC?
[0:59:53] Dave @DCBK2LA: That I don't know, but I'm assuming it's gonna be either or. No? Like, why wouldn't they take CBBTC or BTC? Yeah. Yeah.
[1:00:00] Landy @CryptoLandy: Yeah. I I would I would assume that they would take both.
[1:00:02] Dave @DCBK2LA: Yeah. It says what happens is, like, the structure gives you a conforming Fannie Mae mortgage on the home and a separate loan for the down payment that's secured by your pledge crypto and a second lien on the home. That's interesting. So, like, I don't know much about second lien on the home.
[1:00:16] Ryan @Rlad1776: Yeah. Yeah. But if you if you do an eighty ten ten, like, you're good. You
[1:00:22] Dave @DCBK2LA: know? Explain. Like, me as the newbie home buyer, like, can you explain to them? Well,
[1:00:27] Ryan @Rlad1776: I mean, you basically... You're... What you're basically doing is you're taking out the first mortgage, a traditional one,
[1:00:34] Landy @CryptoLandy: And then
[1:00:34] Ryan @Rlad1776: you're taking a second one out using your Bitcoin as collateral. And as long as you're paying back the second one, your Bitcoin is never at risk. Right? So you're... It's effectively putting... You're you're re... You're undoing what they're trying to do to you.
[1:00:52] Landy @CryptoLandy: Yeah.
[1:00:53] Ryan @Rlad1776: So a little complicated, but but at the end of the day, it's... There's ways around that data.
[1:00:57] Landy @CryptoLandy: So, essentially, instead of giving a down payment, you give them crypto, they... That collateralizes... Would would be a second position. Right? And then the first position would be your your Fannie or Freddie. And, you know, it it it... Look. It's a smart play. It's a it's a... It's an alternate way for mister Armstrong to partner with a company to offer a product that many are gonna find useful for the exact reasons that you said. Because taking a lead against it and collateralizing it, you're actually not receiving any of that money back. It's all just sticking on paper. Right? So I would assume that on that, they're gonna have just a minimum rate, and all you're paying is the interest on that minimum rate. And you're not even paying a, because they're holding the collateral. So you're probably... They're probably banking some interest off of that.
[1:01:52] Ryan @Rlad1776: So the the rate, Lendi, are gonna be anywhere from, 50 bps to 1.5 bps higher than traditional.
[1:02:01] Landy @CryptoLandy: Yeah. But you probably not paying back principal on that because they're holding your collateral.
[1:02:06] Dave @DCBK2LA: Like most loans. Right? Like most mortgages, right, initially. Like, that that makes sense. Yeah. And look. At the end of the day, like, if you've been saving Bitcoin, like, for me, like, if this is something where... Because I saw this story so long ago. Right? Like, I heard about you... I read these stories when I first learned about Bitcoin, how, like, these fucking pioneers were, like, guys in Florida that were going and buying houses, doing this exact thing and being like, hey. I'm putting this Bitcoin down. Bitcoin goes from 15,000 to $70,000, and all of a sudden, the guy is, like, paying off his whole house. He doesn't have payments anymore. Right?
[1:02:36] Landy @CryptoLandy: So tell you what I did?
[1:02:38] Dave @DCBK2LA: Yeah. Please don't. Yes.
[1:02:39] Landy @CryptoLandy: Just... Okay. So for calendar year last year, I took, we'll say, some Bitcoin, and I went and did a paper contract where I took a loan against that in cash. And that way, I didn't have to pay the cap gains on it for realizing that profit. Now I have a... I believe it's a 6.25%. I pay interest only, and I took a 35% LTV. And that means that... I can take that Bitcoin back. I just pay them back for the the actual interest and any any principal on the cash that I borrowed or the amount that I gave back plus the interest that I would owe, and I get that Bitcoin back. I hold a key. Other people hold a key, and they hold a key. So it's... And I believe... No. That one's a... That one might be a four or five.
[1:03:44] Ryan @Rlad1776: So it's a multisig line of your kite?
[1:03:47] Landy @CryptoLandy: Yeah. Interestingly. But it's a paper contract. Right? So, yes, it was transferred into custody, but the pay... It's a paper contract. Right? Because it's Bitcoin. It's not... There's no smart contracts. Right?
[1:04:00] Dave @DCBK2LA: Right.
[1:04:01] Landy @CryptoLandy: So this is all executed via paper contract, and this was so that I could have access to free float cash with the ability to go... It... It's it's locked in at 35% of the amount, but I don't even take I didn't even take the full 35%. But I'm just paying interest on the 35%, which means that I can also have that interest that... For the amounts that I'm not borrowing against. Right? Because I haven't borrowed much from it. I can actually take and apply that to the principal if I do borrow. And this is where things will get really interesting because there's all kinds of things that I can do that then could make me money without having to pay taxes taxes if I won't even wanted to borrow up to 35% on that.
[1:04:49] Dave @DCBK2LA: Right. This is what I'm saying. Right? Like, this is what I mean. Right? This is how... This is this is the this is the arena that I have never played in that I want to play in more that I need to understand more. But, yeah, Widdle had her hand up for a minute. So... Yeah. Right. Give me one second. Let just go to Widdle. Come right back.
[1:05:03] Widow | collab manager @TheOnlyWidow: Oh, I'm sorry. I just, I don't know if it's because just, like, I'm failing at adulting or I'm a small brain in a big brain room, but I just I just wanted the clarity, but I think I just got it in regards to the paper contract and a multisig wallet because, like, essentially, like, I had... Dave and I were discussing on the... Like, if it goes up, it goes up. If it goes down, it goes down. He's like, and if it goes up, you just sell it. But I was, like, unsure. Like, wouldn't the bank be in possession of your BTC if it was collateral? Like, why would you be able to sell it? Are you saying that they can sell it in order to cover more costs and pay down the loan quicker?
[1:05:47] Dave @DCBK2LA: Yeah. That's exactly it. Right? Like, they're in possession. Like, you're putting up collateral, but the collateral is technically still yours. Right? That's a just in case shit happens type of deal. Right? And and... What what was that? What happened?
[1:06:00] Widow | collab manager @TheOnlyWidow: No. I was just... It... Nothing happened.
[1:06:02] Landy @CryptoLandy: It's Oh, he was hearing himself for a second.
[1:06:04] Dave @DCBK2LA: Oh, okay. Yeah. Heard my my my fault. Yeah.
[1:06:06] Bread @_ToastMalone: Yeah. Yeah.
[1:06:08] Widow | collab manager @TheOnlyWidow: No. I just
[1:06:08] Ryan @Rlad1776: But there's a distinction, Widow. You can always recolateralize. Right? So if it draws down considerably K.
[1:06:15] Widow | collab manager @TheOnlyWidow: Can we use... Because you guys are, like, very big brained, and, like, that's not... Like, that's the... My
[1:06:20] Ryan @Rlad1776: utmost expense. Bitcoin.
[1:06:22] Widow | collab manager @TheOnlyWidow: No. But I just was like, let's use... Can we use, like... Bitcoin's at a 100 k, and you have one Bitcoin just for easy round numbers for percentages purposes just to ease my mind. It's been a long day.
[1:06:33] Landy @CryptoLandy: So so let's say Bitcoin's at a 100. I'm this service that is... That that you can get a loan from, which you're gonna back with Bitcoin. Right? So you're gonna give me your Bitcoin, and 40% of that value, $40,000, I will give you. That is your loan to value. Right? So that is 40% loan to value. You take $40,000. Bitcoin's worth a 100, and then you're gonna have a liquidation point. Meaning that, you know, if Bitcoin loses half its value, we're gonna liquidate that loan by selling the Bitcoin to cover the cost, and you keep the 50 k. You no longer owe us. But, technically speaking, because because there is interest, it would actually be higher than the 50%. So you have to take on the annualized or amortized rate at, you know, what is it gonna be? Six six and a half percent amortized over the life of the loan would be your liquidation point. So maybe you take $40,000, but your liquidation is, like, 50. It loses 50% of its value. We're we're we're liquidating it. You get 40, and we cover for the 10 for whatever the interest would be. So that's essentially how that would work and how it's going to work going into the future as far as I understand. But there's gonna be a lot of ways in which different companies can offer different products and services, and they're gonna they're gonna sell it to you in a different way. I think what Dave is pointing out is that this is interesting because it's taking two different products and combining them into one through through getting you a collateralized loan or a Bitcoin backed loan to cover for... Because this is the biggest problem for most new homebuyers. Right? If you go and you sell your Bitcoin, you're gonna be subject to either short term or long term capital gains tax. And in order to go buy a home, you know, you're gonna need... These days, you're gonna need 20%. You're still gonna be competing with a lot of cash buyers. So, you know, some people going up to 50%, some people just coming in all cash overbid. So in order to even get into the housing market, for instance, you would need at least a 20% down. A lot of Fannie and Freddie, you can get away with 5%, but it's very, very tough in the market like this. So if you go in with 20% down, it's usually a little bit better to do. So if you have Bitcoin in order to do that is offer that as the collateral without having to sell it into cash and trigger a taxable event, you give them your Bitcoin, you get that 20% down, and then the other port... Technically, the other part of that acts as your down payment through a second lien on the home, essentially, and your Bitcoin, or they can just lean your Bitcoin. It really depends on how the contracts are structured. They can either just lean the collateral, give you the cash, or they can lean your collateral and your home to have multiple vectors if there is no liquidation. By the way, that's one of the keys, Dave, that I was gonna bring up is that they could potentially tie the two contracts together and say, okay. When you go into closing on this house, your down payment is gonna be covered by this service through whatever service they're gonna be using. You give us your Bitcoin. We'll give them the cash, meaning that they're gonna give escrow the cash for the down payment, and then you get the rest of the cash from Fannie and Freddie that comes in as a check all as one, or maybe they streamlined it into one thing. And then they can lean both at the same time by putting a second on your home. That way, you're insulated from part of the drop because it can just be written right off to the home, or they can they can liquidate the Bitcoin for the amortized schedule versus whatever the liquidation point is. There's a... There's many different ways in which they can do this that would actually be beneficial to you as a homeowner, but also go horribly, horribly, horribly wrong if you don't know what you're getting into and how to read those contracts and what it is that you're actually signing up for and how you're collateralizing your asset. But the reality is at the end of the day, what people are going to do with a lot of crypto assets is they are going to give them to banks or other institutions or services that will provide them liquidity without selling. Because that is the biggest problem even now with all of the different, you know, SEC and CFTC regulation and guidelines that's still out there. It's still very tough not to trigger a tax event because, great, we've got clarity for CFTC. We've got, you know, clarity from the SEC. We don't have any legislation. But when it comes to taxes, it's a giant mess here in The United States, and it's gonna be different for you in different countries as well, whatever that tax structure looks like for crypto. Because the IRS here is absolute trash and is trying to do everything they possibly can to rip people off that are in crypto from the moment that you even transfer it. So it's very it's very much a case of you don't wanna sell your Bitcoin. I don't wanna sell my Bitcoin. Nobody really wants to sell Bitcoin. So let's just borrow against it. Here's some novel ways in which we can do it, leveraging property and real estate. The Cardones are doing this right now with backing real estate with Bitcoin. Think about all the money that they're getting in on the other side of that. Technically, it's owed back, but it's owed back via... You know, it's being paid back by, you know, monetizing that property and getting cash flow from that property to pay them back.
[1:12:19] Dave @DCBK2LA: Yeah. And and, Widdle, I I just been up to the top. So while Andy was going through, like, I was listening to you, and I'm like, that would really make it simple for a lot of people to understand. So I put up a GPT, this whole thing, and now I I put up the clear example of top. It shows you a clear example. Bitcoin Bitcoin trading at a 100 k. You own 3 BTC. Where's the price of BTC? What the value is? The 40% LTV. So it really simplifies it. It kinda walks you through step by step exactly what it would mean, what it looks like, what's the upside, what's the downside, the down payment would look like if it's 20% or 40%, what happens if it moves up, if it moves down. So, hopefully, that's a good example for, for for people to maybe reference, which I think would be dope.
[1:12:55] Ryan @Rlad1776: And, Dave, there's just... There's one small nuance that that people should be really aware of is it's not just about the LTV. Right? So the loan... If if the company that you're, collateralizing your Bitcoin with, effectively gives you a one to one dollar for dollar, value. Right? You want to be extremely conservative in the loan to value ratio. What other companies are doing, and I'm not totally sure this has been absolutely ironed out as it relates to Freddie and Fannie, but in some cases, they may undervalue the asset. Meaning, if Bitcoin's at a $100, you will only get, let's say, $50,000 worth of collateral benefit. Okay? So that is very different. But in... If you approach it the right way, you could effectively protect yourself from, you know, the worst case scenario. So you just have to really be smart about it. I mean, look. Assets, as income has been used for traditional mortgages for years. Right? So if you... You've got a couple million dollars in a four zero one k and it's throwing off rev... Income, even though you might be reinvesting it, you can apply that towards your your income, as it relates to qualifying for a mortgage. In this case, this is... I think this is the big thing. Number one, this is the first... I mean, this is officially government backed, right, by Freddie and Fannie. So they are act... They are effectively legitimizing Bitcoin, in particular, as an asset that holds value, tangible value, and they understand that it's going to, appreciate over the years. So it's really looked at as pristine collateral, number one. So just be careful when you're doing that. But the other thing, and, Lindy, I'm down with you on the Coinbase thing. But I would also say, you know you know, I like to kinda look at things a little squirrelly sometimes, but I would say this is a big f u to the banks. Like, okay, bitches. You won't, like, allow, yields to be paid on stablecoins. We're gonna kinda do an end around you legacy banks. And, you know, we'll we'll we'll give people benefit even though you guys are gonna be a bunch of jerks about it. Right? So Yeah. Anyway, just something to think about. I know it's Coinbase, dude. I get it. But you know what I'm saying?
[1:15:48] Landy @CryptoLandy: The whole... The... They're the reason that that everything is getting torpedoed in congress is Coinbase. Right? Because this was already settled with the Genius Act. There's no stablecoin that pays you native yield to your wallet anyway. And the only reason that you get any kind of yield from Coinbase is because Circle and Coinbase did a business deal in which Coinbase essentially pays out to you, you know, monthly payments based on your premium prime subscription with them in rewards, not yield, rewards for how much USDC you're holding. And in in in reality, it was never going to work. They were never going to get that through. Main reason why is because you're competing against a fractionalized reserve system, and they're gonna be moving over. And if they want native yield to be passed through to people to hold some sort of, you know, JPMD coin, They're gonna be the only ones that are gonna be able to lobby congress to do it.
[1:16:47] Ryan @Rlad1776: So I mean, that
[1:16:48] Landy @CryptoLandy: that Yeah.
[1:16:49] Ryan @Rlad1776: I get what you're saying.
[1:16:50] Landy @CryptoLandy: Things for something that was already settled
[1:16:52] Kkoma @itskkoma: Yeah.
[1:16:52] Landy @CryptoLandy: So that he could take over the business, the the... And become a bank. Because that's what Coinbase wants to do, is become a bank.
[1:16:58] Ryan @Rlad1776: Of course. Coinbase, Robinhood, they all do. Kraken, all of them.
[1:17:03] Landy @CryptoLandy: Yeah. Yeah. Well, you don't want, Baldi Locks to be your bank. Trust me.
[1:17:07] Ryan @Rlad1776: No. I just get it right. But but, you know, like, there is a small sliver of me that says, I get it. You know, Armstrong's doing it for, you know, his own personal reasons. But I don't like the fact that, you know, when I put money in a bank that they lend it out six times and, you know I see. Like... And I don't get a nickel off it. Or, know, maybe I get a nickel.
[1:17:30] Dave @DCBK2LA: The lesser of two evils at the end of the day. Right? It's like like, like, who do we... And, also, like, this is going to open up a lot of possibilities for schmucks like me. Right? Like, if I... Maybe I'm biased in this. Right? But, like, this was, like... This is with my whole plan. Right? Like, this was it. Like, when I started saving to buy Bitcoin, it was specifically because of this. Like, this is what I wanted. Right? Like, you've
[1:17:51] Landy @CryptoLandy: been doing this for years, bro.
[1:17:53] Dave @DCBK2LA: I know. I I know that, Landy. No. I know. I'm not saying, like, this is, the kumbaya moment, but at the end of the day, we've read the stories about Fanny and Freddie, but, like, now it's, like, it becoming official is a big deal. Right? Like like, that... That's, like, that's never happened before. People can do it, and I get it. But you also have to remember, like, you are also a very advanced, quote, Bitcoin... I don't wanna say user, but you get what I'm saying. Right? Like I
[1:18:15] Landy @CryptoLandy: I agree. From the product side, I agree with you. But there was never... Like, we've been doing paper loans on Bitcoin backed paper loans for a long time since being recognized by the CFTC. So we're going back to originally, like, 2018. Right? So we've been able to do those paper loans, which is one of the reasons why you saw futures ETFs launch, right, in 2017 coming in 2018. Because that's when we had just the futures ETFs. Because what they were doing is they had the ability to basically leverage the Bitcoin on the back end without actually having to hold it. They could just get loans for it, say they had it, and do a whole bunch of financial wizardry in order to Do you remember Gensler? Prices up. Do you remember
[1:18:58] Dave @DCBK2LA: when Gensler when Gensler said the value of... Cannot lend against Bitcoin anymore, and the value was zero? Like, anybody that had Bitcoin on their bills, and do you remember this shit, bro? I remember that, bro. I remember that story. Like, it was literally yesterday, bro. People were It's wild. Fucking uproar. It was nuts. But look how far we've come, bro. That was barely two years... A year and a half ago. Two years ago, bro. So just like... Yeah. Like... Yeah. Yeah. Exactly.
[1:19:23] Ryan @Rlad1776: So just quick two quick other points, and then I'll drop down. Let let everybody. But one thing, that I think, that you need, people need to understand is the validation and legitimization that this is going to present. Think about a Bitcoin treasury company. Right? For the most part, they all suck. But... And why do they suck? Not because they're buying Bitcoin, but because balance sheet assets are not treated with any type of multiple. Right? So how do companies... Why do company stock price go up or down? It's based on their performance, their revenue, their sales, their growth, and their guidance. Okay? You could have, like, Sailor a gazillion Bitcoin on your balance sheet, but there's no multiple associated with that. Right? It's like buying a piece of property, and there's no multiple given to it. So this sort of changes that conversation, number one. And then the other thing I would say is if you have... If you... If you're not like Landy and you're, you know, you own more than Sailor
[1:20:35] Landy @CryptoLandy: I wish.
[1:20:36] Ryan @Rlad1776: Yeah. But here... Here's here's kind of a cheat, and you're looking for your first home. Do your best you can to find something, that's a two family, that is throwing off revenue because that even minimizes the risk even more. Now it may not be what you want for your first home, but the fact that you can guarantee a rent is coming in every single month, And if, you know, for whatever reason things get tough, you can always make those payments. Again, you should look to, if if your ideal house is a, you know, a 4,000 square foot home with a white pick a fence and dogs and kids running around, okay. If you got enough Bitcoin, do it. But if you're... You've got a smaller stack, like, that is the way to go. I know I know you don't think so, Widdle, but, like, the fact that you have that that revenue coming in push
[1:21:37] Landy @CryptoLandy: back a little bit, Ryan. If you have the ability, you buy a castle. Alright? You're gonna need to fortify defenses.
[1:21:43] Agent Naeem @AgentNaeem: Alright? You buy a white.
[1:21:44] Dave @DCBK2LA: Hold on. Hold on. I wanna hear, like, Widow, just why why the thumb is down? Because that made perfect sense to me when Ryan's
[1:21:49] Landy @CryptoLandy: just curious.
[1:21:50] Widow | collab manager @TheOnlyWidow: No. No. What he said made perfect sense. It was the kids in the picket fence I was thumbs downing.
[1:21:56] Ryan @Rlad1776: Oh, okay. Well, listen. Wow. I've been I've been married for thirty four years, and I didn't have a choice. So, I have to subscribe to that that that theory in life.
[1:22:08] Widow | collab manager @TheOnlyWidow: I'm I love that. I'm gonna save my comments for our our next, friends' faces and not a recorded one.
[1:22:16] Ryan @Rlad1776: Oh, no. Don't worry about it. My wife tells me all the time I've made a great first husband.
[1:22:20] Widow | collab manager @TheOnlyWidow: I'm I
[1:22:21] Ryan @Rlad1776: mean, my demise is imminent.
[1:22:22] Widow | collab manager @TheOnlyWidow: I'm I'm sorry about your misfortune, sir. Thirty four years is a long time.
[1:22:28] Ryan @Rlad1776: Well, we've been we've been together since high school. We're actually only married twenty five.
[1:22:32] Dave @DCBK2LA: It's funny how these spaces dovetail into one another, Widow? Isn't that funny?
[1:22:36] Widow | collab manager @TheOnlyWidow: I just... I'm just so... Was like, I wanna be like, I'm so sorry for your misfortune. That's a really long time to be tortured.
[1:22:44] Landy @CryptoLandy: No. You
[1:22:46] Ryan @Rlad1776: think you you know, you should be feeling sorry for my wife. Like like, I'm not a part of this equation. Like, my wife is the one that deserves all the sympathy. Trust me.
[1:22:57] Dave @DCBK2LA: Yeah. Real quick also, because DocNooNoo brought up a great point. Like, she she messaged me in the name. She goes, are the terms and rates on these mortgages agreed in USD value or BTC? And I think this is an important delineation. Right? Lindy, Ryan, like, explained to me because it is USD value against where I... Like, marked against where your Bitcoin is trading in USD, but everything is settling in USD. Correct. Like, measured against USD. Right? Yeah. Okay. Really, really good. Like... Yeah. Good clarification. Yeah. Widdle, go ahead.
[1:23:22] Widow | collab manager @TheOnlyWidow: So just a follow-up question with that just because, you know, the volatility in BTC, what would make it more beneficial to, like, the retail, the consumer to go in with BTC versus a stablecoin?
[1:23:37] Landy @CryptoLandy: Oh, good question. The reason that you'd wanna go in with BTC is, let's say, it's in a bear market over a stablecoin, I mean. As normally, you would want that balance to be against your your your stablecoin because you're just borrowing money from yourself and then paying someone else interest, which, to be honest, just go d five. That's what you're gonna do. Like, there's no reason not to just take loans from yourself through DeFi instead of paying a third party. But if you... And you should do that with Bitcoin as well. It's just that, you know, there's a trust factor there when it comes to institutions as they have credibility and backing. And if it's through the banking system, it's, you know, FDIC insured and all that kind of stuff. And they can split it up between accounts and and and write it two different accounts so that it's fully covered. But the reason why you'd wanna use Bitcoin is... And the time to use Bitcoin for these types of things is during a bear market. Alright? So last year when I took mine, we were... I think we were around the $50,000 region when I did these. We were on our first big, big pullback area to retest the big breakout. And I was like, this is about the time. And we had to... At the time, we had to lock in a a a price. So we had to, like, sit down and lock in and write it down on paper. Like, this is the price basically for this. This is our lock in. It's like locking in a a a rate because rates are variable. Right? So you lock in a specific rate. We lock in a specific price or an agreed upon price. It's almost like an OTC deal, but it's referencing the aggregate pricing for that for that three day period, I believe it was. It works a little bit different when you're doing it on chain. It's gonna be that price that it's been transferred on on chain, I'm assuming, but for paper contracts. It did it on a low because I was banking that Bitcoin would appreciate, thus lowering my loan to value, basically lowering the amount that I was paying. So at one point, it was, you know, 35% of that, whatever the lock in was. And then as price rises, that loan to value goes down because price is rising. So, like, the ideal price would be is if you can lock in around a macro bear market low. Right? So let's say Bitcoin dumps out to, you know, let's say, the mid to upper $40,000.
[1:26:17] Dave @DCBK2LA: Timing. You would
[1:26:18] Landy @CryptoLandy: wanna do that, And then you time it essentially to borrow. You take a low loan to value. When price appreciates, now your loan to value gets less. So, technically, you'd be building equity, but it's really just that the collateral is getting more expensive just like a house. Right? When you buy a home, it's the same thing. You you know, if you bought a home a couple years ago in even just some of the, you know, suburbs outside of San Diego, for instance, there was homes for, like, $500,000. You lock in and write down that mortgage. You take a 20% LTV on it, so your 80% is borrowed. Right? And then the price doubles or triples from there, now it's a $1,500,000 home, your LTV is way lower. Right? So, instead of having an 80% that you've borrowed from the bank or from Fannie and Freddie, which the bank sells to Fannie and Freddie anyway, but, you know, you you now have way more equity. So, essentially, you would you would have the same there. That's why you would wanna do it in Bitcoin. But if you're not confident enough to do that, and let's say you're at a 100 or at a high, you're in the midst of a big old bull market, this is where things could go wrong even with really low LTVs. You take it at a $126,000, you go, you know, 40% LTV. Your liquidation is actually 50% because of the amortized interest rate that you would owe on it over time, right, over the life of that loan. And then Bitcoin drops down to 60 k. Guess what? That's 50% dump. That's 50% LTV that you have for your liquidation. Now your Bitcoin's gone. You get to keep the money, though. So, technically, did you really lose anything? No. You locked in at half the rate. You took the money. You lost maybe 10 k because you would have paid the interest on it. So... But they... In in reality, even though it gets liquidated for that asset and they get to keep the Bitcoin at the end of the day, it... It's... Really, it's a wash on your end. It's just you're missing out on the appreciation of the upside. And that's why you have to be very careful in taking loans against variably priced assets. Right? It's like if we get a commercial real estate crash, all these people that bought at at the highs on really low interest rates and they're fully leveraged or they resold that loan or borrowed against that property over and over again as prices were rising for commercial real estate and kept taking loan after loan after loan and spinning them, right, every two to four years. Well, now they're gonna get screwed when there's no cash flow and they can't pay, and then they start to go into default, and then the entire market crashes, and now it's not worth what they actually owe on it. So they actually have to bankrupt the property or all the bad debt. You have to be very careful with a very blue priced asset. It doesn't matter if it's Bitcoin, Ethereum, anything. Right? You just have to be careful.
[1:29:24] Ryan @Rlad1776: 100%, Landy, and that point is so important. And... But I would also say, on the flip side, it actually... Like, if the inverse happened, right, so you used one Bitcoin, $40,000 worth of collateral towards it at, you know, at 60,000 or 70,000, whatever the LTV is, and then Bitcoin goes to 200, you can effectively pay off that full mortgage, right, at the 100,000 that you... Or you borrowed $60, you could pay off that entire home on the appreciation, keep the remainder, right, and still have Bitcoin and a house. So it works both ways.
[1:30:06] Dave @DCBK2LA: Yeah. Exactly. And that's why I think the timing component of what you mentioned, Lindy, is important. And this is where I think we'll we'll run-in... You'll see some you'll see some trouble here is you know how crypto is. Right? Like, if the DGN that managed to save up some, like, save up some Bitcoin to actually do this, right, they see markets now starting to run. Some of them might go out and use their savings to buy Bitcoin and be like, oh, this is great. This... It's gonna keep going up. And then they might get burned that way. Right? And just be like, oh, like, fuck. Like, how did I end up in this position? And then all of a sudden, it's like, damn. That entire scenario that you just laid out kinda makes sense. But I did wanna address one more point. DocNooNoo said, the tweet says only liquidation would occur is is is if sixty day missed payment and BTC price movement won't get liquidated. So the BTC price movement is not... When we say liquidated, right, like, that's your LTV. Right? By taking 40%, you can literally draw down... Like, BTC can drop 60% of the pry... Of of of the price of where you put that that down payment at, and you'd still be okay. The missed payment is a totally different story. Right? Because you need to still make payments, right, like, on the mortgage at the end of the day. So if you miss sixty days, they still got that money, and you're gonna have to either continue to add some more collateral to that loan, right, in order to be able to pay that. It's not just like, hey. I missed sixty days. If Bitcoin price goes up, maybe you can, you know, kinda... If if that's something that you wanna maybe sell to miss for a for a sixty day payment, don't be stupid. Like, that's crazy.
[1:31:32] Ryan @Rlad1776: Yeah. Just make the payment. But think about it, Dave. Think about what you just said. Okay? Bitcoin goes down. As long as you're making your payments, you're good. But what do... What is everybody gonna keep doing? Like, the lower the Bitcoin price goes, like, I want lower prices. Right?
[1:31:46] Dave @DCBK2LA: Yeah.
[1:31:47] Ryan @Rlad1776: Exactly. You buy it lower
[1:31:48] Landy @CryptoLandy: Yeah.
[1:31:49] Ryan @Rlad1776: And then you apply... You recollateralize the loan, and now you have two assets that are appreciating at the same time. Right? Like...
[1:31:57] Landy @CryptoLandy: Or you don't even have to go that route. I mean, you could do that as well, or you could just, you know, shove money into it. You just shove cash into it to pay down what is owed. Right? If if you're getting close to that liquidation point Oh. Now here's Bitcoin. Here's the other... I know. Right? But, no, you buy cheaper Bitcoin. You just don't even collateralize it. You just sit on the side. Go, nope. Because one of the more interesting things from the way that this sounds, if they're gonna put that as a second on the home, they could actually insulate you from liquidation. Right? Because if I have a lien on the home and it's already 20% value... Remember, the the home value is pretty stable versus Bitcoin. Right? So let's say Bitcoin's crashing down to a point at which you would have been liquidated. Instead of liquidating the Bitcoin, we just call the debt on the house instead, and you have a choice. Right? You can pay one or the other, but it's already collateralized by the home as well. So you get the insulation from that volatility in Bitcoin by having the... That, you know, 20% collateralization on the home. So if it's a million dollar home, you've got $200,000 of collateralization through the home. And what you can do is you can always rewrite those mortgages. You can do all kinds of different things. Like, there... It gives you options, essentially, instead of just straight up liquidating someone when you have two pieces of collateral essentially. 1000%. Being a variably priced asset.
[1:33:23] Ryan @Rlad1776: And the last thing they wanna do is foreclose because it's so expensive.
[1:33:27] Landy @CryptoLandy: They don't wanna foreclose.
[1:33:28] Ryan @Rlad1776: I mean, it's
[1:33:28] Landy @CryptoLandy: so expensive. Love to... They would love to realize the the... You see, because they don't actually win in the scenario where Bitcoin goes down. Right? They don't they don't win. They would rather keep getting your interest payments and payments for that that loan to them because that's their lifeblood. Right? That is what keeps them alive as a lender is continuous payments with interest coming in.
[1:33:52] Dave @DCBK2LA: Exactly.
[1:33:52] Landy @CryptoLandy: So why would we liquidate you when we can just... We've already got it underwritten through a second on the home, and if we really got into a bad spot where now you're missing payments, we can foreclose on the home. We don't even have to sell Bitcoin. Right? So, you know, you're... It's all in how it's written. And this is where I think a lot of people are gonna get tripped up, to be quite honest. And this is where as these types of products come to market, just understand what it is that you're signing up for if you're gonna do this. Right? It's it's already enough complexity going in and buying a home and reading the terms and getting a mortgage. It seems pretty rote to most who have done it, but it's a big deal at the end of the day. You are signing up for a lot of debt in many cases when you're getting a mortgage. And now if you're gonna collateralize that with Bitcoin by getting a loan against that Bitcoin instead of, you know, taking and and having to pay taxes to sell it to provide for a down payment. Well, now you've got two different contracts that are interplaying or intertwined with each other. They can have very complex ways in which they could be handled. So you have to pay attention to the details, the terms and conditions, and the fine the fine print, so to speak. So just understand that research these products a lot, especially if you have crypto and this is something that interests you because you can utilize it and leverage it to your benefit and just come out the other side in a beautiful position. But if you don't read the fine print, you could also, you know, end up in a very bad situation.
[1:35:33] Ryan @Rlad1776: And and here, I'm gonna add... Make things just a little bit more awesome but complex. Like, if Bitcoin appreciates and you can pay off your entire home, then you... There are other companies out there that will lend you the value of your house so that you can buy more Bitcoin, and you're playing both sides. Like like, there... Like, you can... If you you lever... If you understand and leverage and research this stuff, like, you can come out of the end of the cycle with exponentially more Bitcoin than... And and an asset than what you had going into it, number one. The other thing I wanna say, Landy
[1:36:13] Landy @CryptoLandy: a DAT and start selling shares to your home. You just LLC No. Them a
[1:36:19] Ryan @Rlad1776: Yeah. I'm... Like, I'm telling you, you know, Joe Consorti Joe Consorti's got that that company, and, you know, that's what they do. They're like, hey. If you're... You own a house and your house is paid off, like, come to us. We'll we'll loan you the money and
[1:36:32] Landy @CryptoLandy: We'll rip you off. I mean, we'll tell you
[1:36:34] Ryan @Rlad1776: that we'll never
[1:36:35] Landy @CryptoLandy: go below a $100,000 before you're gonna be safe forever.
[1:36:39] Ryan @Rlad1776: Yeah. But you look you look at the end of the day, if people are offering a solution, there's generally a market for it. You just gotta figure out how to work it. Right? But the other thing I would say, Dave, is... And, Landy, you can say if I'm right or wrong. But, you know, Dave, a good thing would be to reach out or I... You know, Landy can do it or I can do it. Reach out to Milo, Joseph Rapina, who, sponsors the wolf shows. Like, this is his business. You you know, get him on for thirty minutes, and he can just absolutely lay down total knowledge and educate your audience.
[1:37:12] Ryan @Rlad1776: I think it would
[1:37:12] Ryan @Rlad1776: be good I think it would be good for y'all.
[1:37:14] Dave @DCBK2LA: Yeah. I would absolutely love that, Ming. Because give me his...
[1:37:18] Agent Naeem @AgentNaeem: I don't know.
[1:37:18] Dave @DCBK2LA: So good. Yeah.
[1:37:20] Landy @CryptoLandy: Me that. Give
[1:37:21] Dave @DCBK2LA: me... Yeah. Give me his name, Wendy.
[1:37:22] Landy @CryptoLandy: Please. Joseph? Yeah. I'll I'll share his profile and stuff with you. He's he's... One, he's a brilliant guy just in general. He's, you know, former... He's a Wall Street guy, wasn't he?
[1:37:35] Ryan @Rlad1776: Yeah. Yeah. Former Morgan Stanley.
[1:37:37] Landy @CryptoLandy: Yep. Okay. Yeah. So he... And this this is kinda his wheelhouse, and Milo does a lot of business. I know People's Reserve is is kicking up. That's on DG's side. I can even get you in touch with them. Because these guys, they... They're doing this already, and what they've done is they've taken it to the wider market. They've taken essentially what we were doing behind the scenes in, you know, private lending markets, which is where, you know, just... When when you hear a fund, like, when I say, like, oh, you know, there's... I'm associated with a fund. Right? It's it's mostly private lending. Right? It's a bunch of people who pulled their money together from various industries, created a company and a fund that is doing specific things, whether it's venture capital or whether it's lending. And it's... If it's lending, it's in the private credit markets,
[1:38:28] Kkoma @itskkoma: which, by
[1:38:29] Landy @CryptoLandy: the way, private credit is blowing up, like, bad. Like, not not in a good way, blowing up. Like, man, it's blowing up. No. It's it's blowing up because they've done
[1:38:37] Dave @DCBK2LA: more big things in private credit. A lot of these hedge funds I saw, big money.
[1:38:42] Landy @CryptoLandy: Yes. Bad... It... It's bad. It's it's it's so bad. But they were trying to shove it into to to pensions and retirements. And and Scott Passant was like, no. No. No. No. You don't. I'm going to crush you, and you are going to pay the price, which is part of the reason why we've seen some of the moves that we've seen in markets when they were at the highs is all of this wacky up and down movement and private credit market go boom, but in a bad way. But, you know, there's there's there's a a lot of different things that we were doing behind the scenes with Bitcoin in particular as a collateralized asset. I mean, even to the point of how Foundry even became the largest mining pool on Bitcoin was all based on Bitcoin collateralized and backed loans. And then giving those two... Allowing them to post that as credit or post their machines as... Oh, I'm sorry, collateral for runway. Right? And then they went in and completely took every... All these operations over on the private side by... Basically, you defaulted. So now the machines are ours and the Bitcoin's ours. Thanks. Bye. Yeah. Right? So, like, it it... We've been doing this for years, but what these guys are doing is legitimate above board companies that are dealing directly with banks and have relationships with banks because they have to be able to provide you with the liquidity. So they're they're connected to everything in real estate. They're connected to everything in the banking world, and they're acting as that go between. And they actually manage this stuff, everything from your your liquidations, how much collateral to your payments and everything. And these things are really, really cool, and it is the future. And this is why I don't like that Coinbase is getting into it because you've got good companies that actually have good ethics and good track records. And Coinbase does not have a good track record just for anybody that knows anything about OTC deals because OTC deals are the same way. Paper contracts, things are lended and rehypothecated over and over again in the OTC markets. That's its own thing. It's just like hidden hidden underbelly to all of crypto, and it's not just Bitcoin. It's every asset you can think of in the OTC markets. There are all all kinds of paper everywhere. And a lot of it is is crap, and Coinbase help facilitate a lot of that crap, to be quite honest. So now they're just gonna bring that crap to market and say, give us your Bitcoin. Right? Like, I don't know. Maybe the more the merrier. Maybe I'm just maybe I'm just not happy with mine.
[1:41:24] Dave @DCBK2LA: Maybe that's what You're you're salty. But, look, the bottom line is is, like, Coinbase, whether we like the... Like, we want... Like, we like it or not is, at the end of the day, is the gateway to crypto for the majority of Americans right now. Right? Like, it just... That... It is what it is. So, you know, them coming out with these products, like, look, I think it's, you know, again, perspective kinda, you know, us us kinda looking at this as as a positive overall. But, yeah, you... You've been deep in the trenches for too long. Or you jaded just like the rest of us on a lot of other things, so I hear you. Yeah. Trust me. But, guys, that's it. That's all we got with 10 after seven. Like, this turned into an absolutely amazing space between Widow and DocNooNoo and their questions. But is anybody else extremely turned on at this very moment? Because, like, I... I'm just saying, fucking amazing. Absolutely amazing questions. Widow, thank you. DocNooNoo, thank you. Like, it was genuinely, like, incredible. I love that you guys were asking these questions and kinda bringing this stuff up. My god. Ladies with brains out here like this, asking questions like this? My good... I am in the DMs stat, ladies. Landy, thank you for coming through. Ryan, don't think I didn't forget that you were fucking... You came up to sell me out early in the beginning. Okay? Don't think I forgot that.
[1:42:31] Ryan @Rlad1776: AMG, appreciate you. Yeah. Now I got a wingman, so, like, I feel more comfortable.
[1:42:36] Dave @DCBK2LA: Yeah. That's fair. That's fair. But when little old me is hanging up here by my lonesome, right, it's just like, oh,
[1:42:41] Agent Naeem @AgentNaeem: you come up and like, I think you're crazy. I'm telling everybody what he said about Nat Nat. Uh-huh.
[1:42:46] Ryan @Rlad1776: You know I love you, bro. Hey, man. Yeah. Great show, man. You know, honestly, you just said something like, the alpha on this show... Because so many of these shows are, like, male dominant. It's like, Jesus Christ. I wanna fight everyone. Like, you have, like, tons of women on this show, and they're all brilliant. And, you know, that that... That's the... That's your edge. That's the alpha. So well done, man.
[1:43:09] Dave @DCBK2LA: Thank you. What can I say? I attract the smart ladies. It is what it is. Can you tell I've been
[1:43:13] Ryan @Rlad1776: been with the same woman for a really long
[1:43:15] Dave @DCBK2LA: time? Yes. Yes. I can. Yes. I have. Yes. I absolutely can. And I will back Widow's theory on all of it, just FYI. But in that, appreciate y'all. That's the last space for the week. Sorry about earlier this week, guys. I know we... You know, I might throttle back ATC a little bit. Like, maybe, you know, one or two shows a week. It depends. You know? So just bear with me, but I love everybody kinda showing up. We started off a little bit slow, but this was amazing. Really, really incredible. You guys made this into an absolutely incredible space. Landy, as always, man. Appreciate you and everybody else that came through, man. Have a great weekend, you guys. We will see you all next week, man. Deuces.