The Bitcoin $100K Waiting Room
01:09:07 Share

All right, everybody, hopefully IT happens on stream. We got a little bit of a chance um but bitcoin is aging as the kids call IT and hopefully he will soon be gonna. I don't know if you guys use these terms but there on my telegram chats.

oh, absolutely we're I think we're all in the trenches now.

We're all in the trenches. So um we're going to get into that. And i'm excited to uh, give everybody update on just in switching from eat maxi to .

in point maxi. We did a boy. No, don't be.

Let's say this, just bring up the choice quickly. So bitten obviously you know run up after run up we are at ninety ninety right now um up twelve percent for the week. And in theory am not too bad, I mean comparatively to ever used to nine percent sina doing great, twenty two percent. Well, kind of I give a quick run down of of each coin because I think everything has a bit of news going on. Um biton, obviously like Michael sailor, keeps just buying all the book in the world and leveraging IT intensity um I don't know, like is a child, what do you guys think?

I think he's a chat. I think he's a chat at some point. It's gna end point.

I feel like at some point in point, but me time we all enjoying IT, right? He's pumping our bag and everyone's happy. Uh.

so if I call the premium the bitcoin Price, the premium the microstrip gy had relative to the underlying hold is down massively, right? Like yesterday, I think he went down twenty something percent. I would expect that to to eventually go down and converge to zero. Do do you think that's the right way .

to think about a shorty potentially? Yeah um but there's a big a question. I think eric wall has nailed a bigger question, which is what all of us in the trenches are trying to figure out. This is the the ultimate question of the universe, the age old question.

If we can bring up his tweet here um he says the only question you should be asking is, does the B, T, C pup level off at one point, roll into monstrous, disgusting all coin pump? Or is the market structure actually different this time because of T, S? And he says, your entire bloodline depends on you getting this answer right.

And the crazy thing, is that true?

Yeah um yeah I mean, of course he says, you know it's possible that a billion things pump and you don't see them or hear about them because you're tiktok trading obama a sq cots you know coin um but uh, Justin, you are you are are you in the I don't know you in the tiktok ranches but you are uh, somehow saying that you you're acquiring many valuable assets. Can you tell us what's going on?

Yeah, I am have definitely found myself in the trenches. So last week tiggy on bartered me into this mean coin craze. I started off uh, dipping my toe in the water with peppy and now i'm completely out on the risk curve with these tiktok meme coins.

So I think chill guys is is sort of like the canonical, the first tiktok mem coin that's popping off. That's a holding of mine now. And I actually, you know, like I realized that I can't be this terminally online person.

So I gave a very close friend of mine bag of a lot of a sort of trade, these mean coins. And he's a master of online culture, master me so excited to update you guys on where that lands us. But I have a tunnel learnings from the trends. It's hard and IT is stressful um I don't know if you guys have been feeling IT too, but I almost kind of wish I was back in the east magazine days IT was A A simple of life.

Just just your guy, just your guy. Don't worry .

about your average entry guy. Just curious.

uh, I think i've founded in the twenty cent range and IT went up to fifty cents. I don't know what it's said now, maybe thirty five, thirty seven. So IT is interesting. You can find these things early, but it's really, really hard to like you know have the conviction to hold them during the drawdown because you know in your head, like all of these things end up at zero. So it's really hard um but yeah, I am not sure how possible IT is to have perform the market on these meanings inta you lose a lot of sleep, your dopamine in receptors get fried. Like one important has just done like after like just two days of like being terminally on nine day was too much um I wrote down some thoughts so if you guys want to hear my hear my learning, i'm sure maybe you guys i'll push back on some of them.

Sure you've been taking notes. okay. Meanwhile like study.

he's learning he's actually a learning guys .

is learning. I I see you me while bitcoin is continuing to edge, it's aging at ninety nine point three, so will .

be following .

this closely. yes. But tell us, Justin, what are your learnings? And by the way, like i've talked to very serious multiple of them in liquid funds. I have heard from about seven serious VS that everybody knows, but they have hired a kid twenty to twenty five years old and given them each. They've independently come up with the same idea. They hire somebody given million bucks and then told you, just like our punting means and they're all like, oh, my guys up three x up to three million. I don't know giving more this this is what's happening right now.

I mean, that's what I did that at a slightly smaller scale. But that was that's exactly what I did like I realized i'm not going to be this tiktok guy, but I know people that will. In any case, the first and most important finding I had is like, I was on twitter a lot and I was holding youth and sad.

And you see, all these tweet are like people pointing two hundred dollars and and getting, you know, million dollar returns. But like the first and foremost thing I earned this mean, clans are not at all easy mode. I think it's actually like much harder than even holding eat, right? Like if you hold eat, you're said you under performed but it's still got up and it's a safe hold.

Mean, coins are not at all easy mode. It's much harder. Um like the one tRicky thing is you really only one out and that's a listings like the benefit of these techs, the majors of seta is there's take enough cattle, there's announcements s news. Uh performance on the project is such a the only thing these being coming to have for now is listings and so makes a very scared hold these things um .

that is a point market for you know what's gonna the next coin base listing and and and you know you have like pop cat top list. You know people are speculating what's gonna after floppy?

How's that work for you, jack? With there a pop cat?

You know I saw that tweet and I bought some pop cat and I am down, you know a good percentage, unfortunately.

So it's a the the cat still popping, don't worry, it's still .

popping popping so I so good you being a .

being a chill guy is the most important. But like IT is crazy. How quick like nick breaking ingy quick these things move um and like you really can't are not safe in any of these things like I talked about IT before, but like first we had IT was a dog with a hat on IT.

Then we had like some other room coins than we had moved. Then we had a coins, S P X sixty one hundred. Now where on chill guy like what's the next thing? It's so quick. You have to be so on on top of this stuff, which makes IT really hard and stressful. Um IT is really fun though, like I don't know, I felt a lot of fun, you know, cornal in the trenches, um IT is like a hyper casino, right?

It's I proc know and you have to I think the fun part is you have to imagine whatever we else is gonna so you have to make a bet on like not what you think is good, but what you think other people will think other people think is good. You just have to go down the levels. And so obvious ly visibility matters and listings matter.

And we've seen um you know listing still be effective. There's up bit listings, there's coin base listings, there's finance futures, finance spot, and then there's Robin hood listings, like those are the big ones and everyone's following and taking off the list. What's once an X I think once you get all of them maybe at the final exit pump and like I think like bunk has almost all of them, maybe the next one left yeah.

you know my my big takeaway from all this though, which I am happy, I came to this realization. If you don't want to be perpetually online, trying to time these rotations perfectly, like the Better thing is to just own soul and so that's what i'm graduating to now. Like soul, I think, is sort of this like parameter for how many coins are doing? I mean, that's what it's for right now. And so that's that sort of where, amen, I am not trying to hold any these things larger term except for, you know, trying to .

be a chill guy. Have a question for joy actually because I think yesterday I want to have and all time high in U. S.

D. Price. And I think one of your predictions was, you know with all unlocks that would not happen. So has your view changed on if I saw U. S, D. And you know IT public goes in the Price this area at somebody right? Uh, what reviews on the .

asset now yeah I think the the centralized as that thing as i've said the past is, is just a complete wash. This is like no near reality. However, IT is back toward to decentralized macao, which is worth infinitely more than decentralized.

Now that and IT is the greatest casino on earth right now, there is no question about IT. If you're launching a coin, the liquidity is on sooner. So you will be most likely choosing that, which is a sad set of affairs for if because theoretically, there is a ton of T V, L there, but those guys are not going to the velocity of money uh is very different.

So you might have ten times as much tables on the theory um but they're not moving. They're just sitting there and you're in treasuries and and safe wallet. Meanwhile there are ten times less money on 吃饭。 But you know people are paying two percent four ten fees and you know just punting around。

It's moving the velocity y's huge and you have to be you know seriously considering launching anything on salon on on the top inside right now. Um but on on on the Price of sAlina, we felt about one in the past. IT.

IT is a mean coin. There is no specific you know huge value cw right now. And um I love that you know, I respect the chain.

I respect the builders. I saw this tweet. I don't fully agree that you know I want to say that nobody scammed retail more than salona as a duo nine has has said here.

But this was my point on my prediction and I think you know obviously got this prediction wrong. We have in all time high, which is very surprising to me. But he saying um souls market cap has doubled yet at the Price is still know it's the same Price.

This is the definition of inflation. He hadn't tax every salona family pace. So this is what I realized you know two years ago um we're back at the same high but actually the market cap is massive and this will continue to happen.

This is kind of what we saw with light where the Price is always one one to two dollars. Meanwhile, the market cap of this thing is like just getting massive because there's there's unlocks. Um congrats sona holders.

I mean just a huge win. Uh, you know, I stand corrected. I think the march on locks are sold horizon and I just personally don't want to own something is going on like a huge chunk in three months. But for everybody who cut their trade, you know, congrats, a huge one yeah I .

guess going back to eric wall tweet um you know we talked about this no mark going up the the r overproduction of talkings and I think you know my i'm reading a chat right now. Everyone is saying like my my Green day though k i'm not going to pull IT up at least not yet unless unless they when he um but I I I just don't think we see this crazy also. There's too many token. There's too many means, right uh, I feel like most of the ult n tech .

coins but but we are like I think that there's some confusion here like we are seeing in all season as we speak right now. Yes, IT has not come to certain tests and if but like just look at these coins that everyone accepts are dead right? Like X, R, P, up seventy percent on the week cardono a fifty percent evil and twenty six percent.

Uh, poc, ada, twenty eight percent Stellar humans. I don't even think anyone here knows what that does. Up a hundred twenty percent, a hundred percent for having a like I think IT actually is in all things is happening right now mantra, up one hundred twenty two percent. It's forty five percent. It's all season.

These are all the old old coins. And this is a segment I like call revenge of the dinos. So I don't I don't think that they can keep pumping personally because generally like the market caps are super high. Um but IT is indicative of something it's indicative of the type of user that is coming in the market right now. And I think these are last, last cycle, people who lost money checked out and others seeing the headlines are coming back in and they just remember these are the familiar tickers that they remember. Um plus if you add a little bit of spice, which is that think Charles le's hosking son and some of the X R P so uh you know people might be as part of this, uh not the cabinet, but you know on .

the advice yeah.

Give another .

by as they say.

but take if this isn't if this isn't an all season like I mean, IT is in my opinion, if this is not hinting like the olds, we would expect, right? Like we would have probably expected you in some major tech ods like tea tra to do well, but IT isn't all season. I mean, all the junk is going up crazy. Yeah.

I think I think you're right. I think I think there's an all season in the sex coins, like the centralized exchange coins that has good listings. And then the question is or had that has a good dirigible and the question is will let trickle down to you know even IT is just like coins that everyone else at least on crop to twitter.

Um maybe it's not a all season for cripp twitter, but it's an all season for retail in the left curves. Uh yeah no, I have feeling that you know it's gonna ue being that way. I think most of the tech coins might have no headwinds on the horizon.

And like these older meeting points, right like exercise there, there are all coins, right? I think they are they're y're onna just do well. Uh, I I just can't for the you know for the good ness of my heart like buy these things. I just don't believe enough. So i'm just just just like a barrel of the major and means and just navigate the cycle that way.

That is the that is a warm buffet way. I I saw tweet here. And can you click this tweet? I'm going to tell my kids gonna tell my kids this was more in buffet. Let's put the clip on Justin. Let's put the .

clip on hi.

hi, pumping me going super ycl A I super cycle. Combine that A I mean, point of cycle is a cycle. 这是 the .

A I M .

on cycle ycl。 The the whole is greater than the some of its parts, you know, one plus one goals, three. A I, A recycle, mean coin, a recycle. Bam, boom.

I someone this so morad like, I think you've been shared, like marad was maybe too early, and finalizing his list, like he is less finalized in the S. P. X era, like he never added the A I means.

Is there a chance you're doing that with the A I mean, sector? I mean, we've now seen the meta shift to these tiktok means. Like what are your thoughts there?

Are you saying that I am I topping the I am. Is that the question?

I'm not as so say you're topping IT. I'm just saying like do you think you finalized your your thesis when my thesis is that these things rotate a break next speed every two weeks as a new matter and yours that the A I mean coin super cycle is real?

Um I mean I mean I haven't relief finale zed, my A I mist everyone, I also oil like took talk memes. I also own like you can really related .

means are you a chill guy?

Like I I, I am not a little guy and form 好好， 你 like last week I I was the only one buying means and now both of your own show guy， this is, this is ridiculous.

Do I need to buy?

You need to buy salary. The right. Okay, so let's .

let's let's have some structure maybe. So we do have these A M in coin's. I was at a um event with a lot of big wigs like answer men and these guys a few days ago. And I will I will say that the A I mean coin in just the A I web three spaces top of mind for a lot of people um the top ones, you know obviously we had goat having a little bit of dip tiki I saw the I think there is like two reasons maybe um one is the creator just tweet out. I mean we have this tweet if you guys can bring up but he just said, um cool gut was a success. What should I do next? Which kind of implies like IT you know this is not the end ball you know of his priority like the maybe he just like launches something else and um it's all of becomes this abandoned project and don't forget we had baron trump who is the the son of the president the leon all gave he is like the future potential president he made a coin as girly like kind of you proved and that point is trading at um like like sense like I I think D J T restore the republic token .

or D J T no this is the the one that .

there was a big bet going on between the ally and he was trying to bed G C R on on whether this coin is real. Let me let me find this uh deck screener for you but you know once a coin gets abandoned, doesn't matter what the experience is. Um it's not going to do partially well.

Yeah so is a question like I worry that the A I mean is like a fat and it's gona go to zero.

No, no, I am not like the enough to that. I'm just saying like specifically like. Is good to see.

like not if you're going to share and that's all right, your friend judy uh .

yes yeah yeah um if you like a medal, like thread guy says no, bro, like all the traders understand that this is super berries. You never tweet this. You never tweet this um there's nothing next you know you got to you got to stick to it's it's like a founder starting a new protocol and you still have the the coin from the old protocol like you want to listen airdrop of the new one to the old one. You you need .

something but is such as that. It's like we've also observed, like there's this like one billion dollar cap, that these things like the popular trends you know hit that one billion our company and they sort of like fizzle out. I I don't know, is that part of IT as well?

Yeah I guess if people want a ten x so to buy go that one you have to expect to ten, which is kind of like a tough stretch since like hard to get marginal buyers, especially when chill guys bumping.

Um other thing that happened is um there has been some soundtrack releases by these ais. Have any you guys listen to the soundtrack releases? There has been obviously the ebro and even uh true terminal has has put out a soundtrack. Have you guys listened?

Have you listened to IT? Yeah it's it's pretty good. But like like anyone can make a soundtrack like that, right? I forget what the A I music well site but no, IT doesn't take a genius to like great, like a good soundtrack.

Uh, I I guess like the barrier part of the I use that there is like too many agents launching every single day. And you know the tech is like getting Better. So that kind of dilutes you like the tech dilutes tech aspect. So hear on the provenance .

IT sounds like a .

marry out to and so yeah oh so this is the amazing song the goat see single singularity near by by truth terminal um so if if you play like the last maybe like you know twenty seconds .

towards the end. I don't know what the good singular is, the good singularity is near. Cool he doesn't know what that is but it's .

near yeah this yeah you know IT was to be catchy. I was like singing IT you know I don't know what the singularity is, but it's near maybe because i'm sleep deprive the somebody in the chat noted that I have a new ring. This is an ring and you guys are curious to see my sleep score you know during this week it's pretty fuck no it's not brian Johnson level, i'll assure you but um yeah no these sound tracks are interesting I think the the the whole concept of A I generated output is is going to keep getting crazy and crazy I saw shopping box take .

on this um and has basically said it's like these A I mean points are like watching in an elephant paint meaning like truth terminal. Truth terminal is like watching an elephant paint we're like the first time you see IT is super interesting. You like all my god and A I agent is tweet but then after while you realize like it's just not that good, it's not that interesting and like how many elephants painting are you interested in watching? I think that's also playing a part too. Like i'm just not sure like how engaging these these feeds are going to be, right?

Yeah so actually I was with A I sea as well, uh with awesome. And we were discussing this. He used the same analogy um I think I think it's wrong for a couple reasons. One, so as he was like, oh, you know maybe human meme coins are gonna treated Better because when you look at the world championship of chess, we watch two people play. We don't want to watch two A I S like play at each 小的 人。

Um I think it's wrong analogy though because first of uh if it's people like you know, you can you can check them and you can see that that human but if it's online, you have no way to check if um it's actually like a human using an A I or is just A I like these things are unknown. So it's more like it's more like online poker where like people can cheap and they can use computer assistance without knowing IT. So um you can never prove its exactly human at at some point like so I don't think IT stands.

And um i'm a firm believer that we will see a lot more in this agent space. I'm talking to several teams that are doing some really interesting stuff. And um I think we're going to get the cults we're onna get the cut eventually we will will see the combination of of organisation which is cult. Private money. Private money is the end goal.

Oh, mega cycle, I make a cycle.

So be all good. Mentioned earlier.

like all these funds, they're giving these like summer million dollars. Like have you have you considered doing that for cellini or no?

Is that a working progress?

That's just jordy is .

doing that right? I mean, you said you're sleeping or for private, you've been in the trenches yourself.

So um you know we're starting to we're going to make make you guy are going to some of the coins and and maybe have some upside there. Um but in terms of just like giving giving a kid money to do IT, I don't know. IT is a different world.

I agree with you guys and I have seen IT. Um you have all these terminals and the tools and it's stuff like it's checking fresh wallet being funded by sexes and whether those wallet are flying coins. You know this is a very bullish thing that means like someone insiders are are doing this.

There is like obviously lect execution tools like the bonk parts in the full times in these things as well. I think IT is a great as you know. But yeah i'm not ready to um to give up kid million books and see what happens. Yes yeah I ve .

spent like hours looking at the screen, like possibly even days. This is mean scope on photon. So you can see, like the newley created pump fun coins, the ones about to graduate, the button curve and the graduated once.

And this thing, i'll just fry your brain if you start this thing too long, it's absolutely insane like trying to to figure out what like what could work, what won't work. Um I I don't know the one take way I have is like I was living to the good game podcast and is a great podcast. I love IT.

The lions guys are obviously brilliant. But they were saying, like it's still possible to turn ten thousand dollars to ten million in means I think that was that was the number they were saying or ten thousand to one million. And IT, I think you've really just just really just a lock game more than a skill game like they were kind of coming at this.

Like if you're just pay attention enough for the culture, you can get there. But I I think it's much, much more luck driven. I don't know about you guys.

Of course, IT is an it's a dream. Exactly that's exactly what was going to. That's that's kind of what thing called I was uh I was meeting with a very successful crypto person for lunch and they said that um you know bit one hundred k at this point if you're very rich, you like bitcoin in and if you're not very rich, you don't like bitcoin. And and it's true like if you're very wealthy, you love you love the concept because you can afford you can put a ton of money and you you can just store IT there. Um if you're not very wealthy.

then your development man.

I mean, let let's put the tweet up. Ah this is the the the full bar tweet here. You know if for B T, C, we're still waiting for one hundred k uh, the coin were nine ninety nine. But if you add even B, T, C together, then it's one hundred k and you got a lebron James bitcoin and and you know Bonnie as you. So this is the state of affairs right now.

Yeah yes, I guess I you know I just expect to continue because obviously be the coins gonna a hundred k right um and people see that they wanna make money. People come to graph to make money. Um I feel like most of like things like dei you know i'm unbolted sh attack, but the top of insight is kind like mostly solved and the mclain meta is unsolved because we don't really know like what box happening here.

So people like this naturally look for gains in the new coin sector. Most will get host that right and rented. But this is going to like more capital coming to the space whether you know you are I like like IT or not.

Um i'm not even sure if like my AI omega cycles is going to come into effect, but that's kind of wear and bedding on. That's where I have delusional conviction in um and if I expect no dog money to ready to have money, then hopefully right the A I tech gets Better, become funny here really is Better in general. Um yeah just like chilling betwen right just chill. Big bitcoin is long, is in a from P V, and look relaxed in the means. I think that's mostly how people in retail position.

I mean, we're an interesting point right now. It's been a few weeks in the election and there has been no break in the polish market. Um charts like everything just hasn't even had a ten percent correction.

I think IT is been non stop. What happens in this cases at the leverage? Um all tards let's call them just like go wild and they just keep keep averaging. We can bring up the funding rates and we can see some of the uh the cost this cost of money, this is the cost of leverage is what people are paying. If you click on on the one year here um Justin, click on one year.

You can you can look at the annualize there um you know go to buy bit, I mean look at that like in though to ninety percent annualized, like even bitcoin no seventy basically like if if you have stable coins right now, you can just get fifty percent like no problem like you you know there is is sitting there, you know you you buy that you buy even and in shorter purple doge shorter per you get ninety percent annualized. Um this is how desperate people are to just jump on to the train because there hasn't been a single fish out. So we kind of forgot what it's later to, to feel desperate.

Yeah but there is lot of active.

right, because like more dollars flow into the system to capture this. And then if someone that sick around that's push I I just go for .

now IT is going to say like um in a lot of my group chat, people are saying, well, like if the strategic reserve is passed in once trumps actually in office and we have like these actual bullish cats happening, i've noticed people are raising their Price targets.

If you guys seen that as well, that is that a possible top signal side of the before I thought one hundred fifty k was like a great target for this cycle, but now ever said two hundred, three hundred, four hundred k which seems astronomical. Have you guys been raising your Price targets as well? Or with all the the news.

I have um I think I I think you have to I I thought that my target for this cycle for bitcoin um was not like you know like the one twenty five kind of range given the speed of involves late and in the movements. Yeah I mean that I can see you know one ninety something like that. I think that the three, four hundreds are a little bit of out of out of pocket. Just amount of trillions of dollars is significant. We would have to see something like a new bitcoin in reserve is a real one, whether or buying they're not just you know moving around the the D O J tokens.

Yeah I mean, it's it's really hard, right. Um I guess like all the norms that's texted me in the past couple weeks, they're asking me if they should sell. Um I think the real top happens when they start by and then they make like the ex, they feel super confident, then they deposit more money.

And I that's usually like when the top is right. So I I think I think they're still time. They're still time uh I have no idea how long it'll be um but you know you want like a humble but decision for for you, I think you know just resist no you you can whether volatility but you still get outside. I'm still trying to figure that yeah much.

Let's get some questions in the change in the child if you guys want to do a quick Q N A. In the meantime, while we're going for questions like and submit everybody, we will IT will keep grinding through the spare market. And even though my sleep score is a is a solid sixty two um by hours of sleep i'm i'm still here grinding with you guys so I asked kick us .

off with uh a question near and dear to my heart uh so P S asks, is eth really dead? I've obviously been talking about this a lot, especially with the beam chain road map. There's a lot of interesting takes out there.

But the one thing that I think is the most convincing to me that like eve will perform well or catch up somewhat in this cycle is that we're seeing these dinos pe perform, like, in my opinion, if X R P cardono pedia hash crap, like all of these tokens were not even familiar with, can have these crazy games, I think, eat well as well. And IT sort of reminds me of a couple days ago, I watch this youtube video of a non cyp to person talk you about how to get into crypto for the bull cycle. And he was basically saying, think of the coin.

The worst coin you can think of is probably going to pump the most. And that sort of actually what's happening. And so like with that logical alone, I don't think you ever really quote quote dies. I actually do think you will catch up this cycle. I don't know if you guys are on the same page.

You will have sudden moments of catch up and I think it's still the most obvious trading cyp do always been always has been you know bick pumps, people will rotate to eat. It's just the natural you know gold, silver thing and is always going to happen um and now you can play IT on trade fy as well. You don't need you can play on Crystal because there is a chart which is the F P, T, C chart in traffic.

You can you bring up the side nani tweet, yes, shut out to any. So he says that my house, they mitted you to see a real thing and traditions. Y, and if you, if you look at the chart, this is the base.

yeah. So, so this is coin base microstrip. Gy, so coin basic, I has base, which is an E L two, so it's kind of like eat. And microsoft obviously like leverage bitcoin, so and this this card is down only and corvy is .

like the evAlina company, right? Like for whatever reason they do feel very much eat the line. So that's interesting. Yeah I mean.

coin basis obviously tremendously well. But microstrip gy, you went bananas zone couple days ago um these people buying calls on IT. The premium over to the underlying between the hole just grew massively until cron research, I think, shorted some and kind of pop the bubble at least for now.

But it's a very interesting set up. And i've seen the Michael sailor discussion on why trades a premium. So basically, like if you up all the big in the hold, the market care of the stock is still a lot higher. And he saying this because they are you know they're creating value by leveraging like there is worth more than underlying the point, like as a vehicle, they create value and and that's a premium. Um and I think maybe maybe that makes sense.

Lucky, I guess this question is is mostly for you, but what would cause you to switch back to utility from means, if anything?

Oh I I see I see um it's it's hard because you know i've been mid curving for seven hundred and thirty days, right? Um and in that period I ve just come to the conclusion that most of these utility coins are like pretty fairly valued uh i'm still looking at them really like i'm not completely abandoned ing them but I have just internalized that most of these you know there isn't much jeff is uh so for me to pivot like a utility coin, IT has to, I guess fit the court the case of the meta.

So for example, like on sona radium, the dey coin, the dex coin has been pumping because its mean coin info uh on on bascha's like virtual s is doing well because it's like you know the A I agent launchpad. So whatever matter that exists that's hot, maybe you can like buy IT infra because it's like utility and you don't have to pick. I'm going in the me coin.

You can just buy like the info that support IT. Uh and you could get on the same thing for panda as well when the points medal was started. Ah so I think most divide or using coins are solved for now.

So the valuations are fair. But if there's like a new game in town and you can kind of identify like a utility point that fits that and then just like buy that, uh, so I would have to see like a new meta form. Um I I don't know what that is, you know but that's probably what I would have to see.

Fair enough. We're getting a lot of like A G, C R promised us ten k, where's the ten k from G, C R? Like kok. Um, yeah, sorry, guys.

And don't forget what trump was looking. unlikely. G, C, R said trump is going to win.

IT coins, going to pump. I forget the other predictions. He's been .

pretty up spot on. right? Let's let's get somebody also who crushed that this week there was a toddler, a fucking infant, that has rubbed his pump fun coin to his great excitement. Can we bring up this tweet here so a literal child spill thirty thousand dollars is nothing and i'm sure most of our audience and take talk and I don't know where else but um can you um can you open this listen to this Young corporators.

He's working over that.

Yeah, he's to working over rocking. He just like everyone is in on respect on .

onesta honestly respect.

I mean, he made a second coin called sorry right after and then he rugged IT for like another two. K so this is the state of the market, guys. This is what's going on right now.

We got we got infants robbing us. And like we're kind of paying them for the entertainment. I yes yeah actually that .

ah we are paying them for entertained and I think the people are trying to pump the old coin, right the coin uh there was also like the funny block meets tweet and that you you you shared in the change the new year treasury manager yeah is that good? Yeah jensie .

quite joins the theory um foundation to help with treasury management. IT doesn't m like every freaking time, like even when Justin drakes on stage talking about the road map, like some stupid E F person is like just selling if like just I understand some, it's programmatic or who knows what. but.

Do do you guys is that why um for the past six months a theory um classis out perform this. I don't know if you I have been tracking that, but I think a theory classic is up like thirty percent plus against teeth, which is crazy over the last six months.

Yeah I think I think there is coins today that have output from east for the whole year. So I I think like E T C is um somebodys asking a what are VC is doing seeing the whole model evaporate because of means since the one buys are high F T V coins, this is interesting.

I have been talking to this and i've ve been hearing some debates about, you know, what are VC doing so like I said, one there are like buying mean coins with some gensec kid that they hire. That's that's one thing they're doing um. Yeah, there's a good cope.

Um there is there is not a lot of belief that this will last necessarily. Yeah, I I don't think they have strategy. I mean, they're still raising quite, quite good amount of money.

The management performance fees are high. And even like the V, C, coins are still okay. I mean, you you look at a lot of stuff pumping in R, B, C coin.

So there is enough money for everything right now. Um the market is not different. Cheating very hard. We didn't see grass revert a little bit. I was talking a little bit about this maybe last time that there were some people just like permit longing grass for somebody on hyper liquid that had put on like an over over ten million position long um yeah so somebody was asking me like what what has happened with this um so head at nine um your correctly has deceased we we have lost them um I think the two dollar liquidation point got hit and indeed, you know there are some victims already of over leveraging and I think we will get more. Well.

so the next natch soul alone in the chat says you guys have been so barrier ed the last few times few months. It's obvious. I I mean, we all hold the you know that we kind like to poke fun at that because .

it's so I I actually still stand by what I said and when the when shift happens podcast, I do think it's more likely than not that eat out, perform so ona, next year, and that's partly just like a mean reversion thing. I mean, sona has outperformed so massively everything else that I can't keep doing that forever, right? So like another three accent and foolish sea, right? Like I put that as a somewhat of a cap this cycle. I think if if we start getting the talks of the filipino, that's probably like a good indicator that solo is getting little over extended.

So we have bar silbert a marrying that the sea of D C G dex, you know, master the universe last cycle, telling us it's going to be a big week. It's going to be a big week every freaking time. He said that the mary was like new king.

okay? So barry now is like seeking redemption and he's doing IT as A A I shake iner. So he's trying to do bunch a bit tensor.

So subnet um that's that's like a new play. So a bit tensor has been like massively under performing despite you know some of the strong shelling. I think IT was like the only coin that was read on the week couple days ago when I tried.

So um you we'll see if that emissions s model, I think eric well came on and was like pretty barrier h on you know this emissions s model. But if barry is seeking redemption e maybe there is a chance I might maybe there is enough of a mind share there are that um some some good stuff gets built. But for now IT feels like the virtual and the spectral and some of these things are are more where things are happening right now.

Yeah I feel like A I mean started pumping. It's very sh tell because how was original? A I mean but you know there's more upside the in the pump fun. A I means .

explain why because um if if you talk to any liquid funds, if they want access to a category, they just buy the category leader. And when IT was like how they don't think about IT twice, like you want A I critical exposure, you buy the coin and you know you go to others self and I think losing that number once lot not that they've lost IT yet but you know just sort of like having other things interfere with IT being a no brainer um you know I can affect the flows quite a lot and may be cause some rotations so yeah it's down on the week, which is kind of insect to see. Yes, so i'm not quite sure what's on.

Sorry, this is related but I was really the chat and um had this question but you last psycho, I was like the all ten one two right like eat killers, like the pumped gally um and you know things like sue, like I I I never thought that I would got to like thirty seven bill F T V I want not and I guess the arraid isonna lers like do you think that is like knew like SUV after like do you think they can actually sustain sustainably two hundred billion um i've i've been calling from the sillies um and I think you know jordy has like funny tweet they want to share about .

I mean so we like yeah was twit they've been doing the whole playbook. You know you have a very performance chain. It's very quick to act and occasionally goes down for fifty one minutes, as he just did.

So this guy, fish can fish, says, so doing everything I can to be the next elana. Of course, we all remember salona going down. You frequently ask cycle. And now so is going down for no no blocks for hour turkey.

you guys both setting yourself right? It's a dream. And I think if you're coming in this cycle now, you see all of like the crypto O G, the people that have been through the bear market the last couple years have made all their money and soul.

And so like what's the catchup p trade, things like sui, it's gonna be monad. Uh, it's going to be bar chain. It's going to be those new chains that are launching in the ones that are just getting started.

Now I I think that personally out before, and I think we see the same all alone rotation as we did last time. Because even actually, even and some, he said, like his goal for his target, and I think could be corrupted. This for soul is like a thousand million soul, which obviously there will be like extremely impressive. But that's a four x from here. Is that is that dream really alive for people that are coming in now they're like you said, they're looking for a tedx.

Once you get close, the targets always go up. You know it's moving goal posts still just start saying its ten k you know whatever um so potato my boy potato here is asking on hyper liquid. We've talked about hyper lid in the past and if you guys have used hyper quid but is the it's an interesting question.

Um we're still waiting to see the technics hard to say I think F T V wise at this point. The premarketing are you four, five billion? I'm not be conflicted on how the launch is gonna.

Initially, people were thinking there was going onto a lot of selling and you know you you could catch the sort of reversion. Everyone seems to think it's non consensus to be bullish. Hyper liquid is actually like extremely consensus.

Literally everyone is blish hipolito. There is fun that are just preparing to buy exposure on on the lawn. So I think it's one of those things that people think that they're not moving, but it's just so consensus.

Um I don't know what that means. Like does that mean that IT just goes weighted ten billion or it's already Priced because there's no other erbil? I am not quite sure.

Um but it's it's very consensus. It's a very consensus. I mean no one's not bullish.

I yes. So um I I I I no I I I think not every fun can buy initially because I don't think he has like fire blocks immigration ah. So maybe some funds will be this way a few month, something maybe IT will allow retail to buy and you know cheap but I mean yeah like everyone's englished and they launch by anyway, i'm not trying this.

They are O T C already. They are just there. They don't need firebox. They're they gona O T C. Um they can know T C limit orders like we've had.

We've had people ask us to um just buy for them at a certain Price level and we can just limit order, put IT in and and just said to them so they're going to buy, they are going to wait for firebase. X no one's waiting for firebase. Ks.

yes, yeah, yeah. I think the big questions .

get centralized changes. And you without centralized exchanges, is there a cap literally just some amount of dollars that can go in without a ance? Can you get to, you know, over five billion? What is the .

thinking that finance what didn't list them because they're competitive for?

No, I think because they will not engage with them. And like do all the listing fee. And like all the other stuff, I think that's more the reason centralized exchanges don't take taxes seriously, even one as hype as hyper liquid.

There is no one to baLance saying, like, oh, these guys are gonna compete with our business model. They just literally don't believe, heard IT so many times D Y D X IT just never happens. And I think they they maybe the detriment. Maybe there will be wrong, least maybe the boy who cried .

both .

yeah nobody I talked to, centralized changes tries to avoid the competition of of a deck. They don't see you that way. Maybe they should, but they don't.

Yeah IT IT is like a cold forming that the committee super strong um I wouldn't bet against IT maybe you can cracked me up.

Sorry, i'm light lads. That was literally dropped at the same time as the new kinder glm mara album had different through real quick.

No, where is my need to joining?

Cool guy, so we were hoping to get a between hundred run up. Um I think we're second ninety nine like we're still aging. No gunning yet. I'm not sure it's gonna en the today. We can do some pastors maybe in the and see if we get like a sudden god candle.

You will buy, we can pump IT. Come on, have the collectively did is did. But indeed.

I think we need Michael sailor.

I have so many posters. I don't even know where to start. You guys can I submit like five posters since were alive, and we're celebrating. These things are banks.

I don't know, chat, how many passes we like, just have. I think too. I think I get to, 啊。

okay, who wants to go first? Then I got to figure my life out over here.

I think you first. You have mine justice. Yes, this me, this me put fun at the eat maxes. I I saw this. I thought it's salary.

So like this guys under water and he is like, do I need pull me up? He just tie this thing around is a neck pull, pull me up. So this e others, when someone tries to help them with their underwater logs.

we don't want to be saved anymore or done.

Where is this sture's, this chilling in the water? Chill guys in the water.

Yeah, someone needs to remix this with the chill guy.

That's my faster.

All right, i'll do. I'll do my pasta. I have a Michael sailor interview and this guy, I mean, he's such a good speaker.

Some of the stuff he says is insane. Let's play this clip. Um I think I think we have the time stand here if we can get the clip up.

Ah if you could actually send me that I think i'd lost the tapper of all. Hit my posters first.

Okay, go head.

You go first. Yeah right here now so this was from ginza um and i'm coming around to the sentiment here. So game, he says, S, B, F, prison.

But a lot, as at all time is and somehow the attic is free with eat and progress. Or they got the wrong guy. Man, this replies, I cracked ked me up even more from shine funk.

Look, bro, in the long run, i'll make more here than bati. So who knows? You know as so long as twenty five years to run before S B F gives out and abled the cash and all his, it's a lot of profits.

And then in in luu .

of B T C hitting a hundred K I want to share my favorite trumpet o of all time, the fun little clip here. And I think this is true. I think we're all getting tired of winning.

We going to win so much. You may even get tired of winning. And you say, please, please, it's too much winning.

We can take IT anymore, mr. President, it's too much and i'll say, no, IT isn't. We have to keep.

We are going to win more. We need to win so much. I love you all.

I would expect, yeah, no, no. Would expect seven years ago that he would be talking apple industry.

IT is music .

so welcome. I'm very.

I think this is the Michael the Michael sailor ah I get my my past and I think it's such a good pasta. Let's get sale .

on so nine twenty yeah it's like .

nine twenty five maybe yeah think the right .

way to think of IT is it's always going to be the stronger capital asset vers a conventional S M P index.

So what what you what's I get us to with what you say? Twenty nine percent A R R. What's the target?

What's the target? My forecasts thirteen million a coin by year twenty forty five. And what I tell everybody is every big coin you don't buy today is gonna to thirteen million dollars in the future.

Every big coin you don't buy today is gonna you thirty million in the future.

The chat with the chat.

Well, the dominis changing. I mean.

But that is is on fire. He's on fire, unstoppable. I mean, he's a printing, printing endless P A, you know poor people's money by holding his child money. Let's get to pull up. Everybody choose will have some .

voting going on. Really have have a question for you like. Do you think this will end poorly? Like like, I mean, the bears are seeing this will end poorly at some point, right? But do you think he can continue to like financial engineer this way to baha? Or do you think that at all, like at some point he can be like a four seller and it's onna create like mass fd.

Um I think when backing was at sixteen k he was probably like, you know not not too far off a couple years past and nothing happened. He would be in trouble but um you know he survived, he at risk and no, I don't think that IT ends badly. My you know i'm i'm glad that I didn't make curve myself.

I i've been a big, big coin maxi last cycle. I don't know those of you who remember like my content, I don't at least debates you know taking the bitcoin en side and explaining why IT is a unique asset and different than all the other ones. When I get like really deep into the the rabid hall, I realized that bitch is flawed in fundamental ways.

And um I don't think it's gonna in fifty years, you know be something that works. It's going to be like the hyper reorganization. But here's like how a mature is a person.

I knew that I could medicate myself by looking at the future and saying like, well, this is this is got fatal flaws. I'm not gonna buy IT now. No, no, no, no no.

Like we're so far I had a game you should buy now right for a few years. Everybody like reaches the level of understanding that you know bitcoin maxes have and then eventually, like the world will catch up to the flows. But that that one that might take a decade um once issue is go down. So I I disagree, unfortunately, with the belief that you can by bitcoin and then not think about anything over again because they will come a day where the reckoning happens. But I think it's maybe ten years away.

Um and in the meantime, i'm not gonna IT of IT like if I think what other people are realizing is that this is a an incredible example of a shelling point asset that is reflexive that has a game theory component where you know china now has to start wondering what if trump is gna build a national reserve? Are we gonna left behind? Like what's our strategy? You know we're starting to here that they are decriminalizing crypto itself like this. Maybe they they don't want to fall behind.

It's like that movie um I learned to stop worrying and love the bomb where you know in a cold war situation you don't want to have any you don't want to fall behind the other superpower and anything doesn't matter what IT is like um you could just say ridiculous things and like, yeah it's a space space gap but I could be like you a bitcoin gap like they don't want to fall behind on the bitcoin gap like if if country started cumuli bitcoin and they start like, you know measuring contest who's got more IT becomes like this whole memetic other thing, how much feet can you print to buy this thing? So yeah, i'm still bullish. I think it's going higher and i'm going to make yet and .

looks like we have uh, the results of the pull and that also how are is coming from next? So uh, congratulate, looks like you dominated positive. But nakia remember Jordan less in the luna debate, just farmer untill IT blows up.

script. So jodie are saying there's ten, ten years, ten years left, at least of this.

I think the we have maybe like two more hours before before there's multiple issues with piton. Unfortunately, I know I love the space and I love i'm I am a purist. I would love bitcoin at work.

I think IT has three or four huge flaws. Um most of them are related to the fact that the hevening is going to be a huge problem after like one or tumor hevening when no one's going to want to mind this thing. There's still no fees. There's no you know apart from some hyper speculation on you know N F T rules and anta, there is just like no sustainable fees.

And um the other problem is even if there was like you don't want a deflationary asset, um what i'm imagining is that a deflationary asset create all kinds of economic problems are not thinking about used to because we're living in this like money printing world and you don't really that other other extreme also has like problems. You have really bad mobility of capital and mobility of classes, social classes, monetary classes. People can make IT up and like look at the gensec, like they're only any fucking bitcoin.

It's they're too late. 嗯， okay, my generation, you know, millennial, where we're going to own a factor of bitcoin because we inherited our bomar assets and we were digital, native or internet natives were the first. Once we got bitcoin, we all have bitcoin.

There's going to be the hat and have not. So bitcoin and with no new bitcoin being printed or or like being created sounds like a good thing. Yeah like it's a good thing because we're so far away from sound money that like the concept of like uh twenty one million harp sounds good, sounds good.

What happens when like there's no more coin than the people who have them don't give them to anybody and like you're fucking you know J Z kid, you're just going to start rugg's people on stream. Like, what are you gonna do you know? You're not gona get any bitcoin.

So this is gonna a social problem and people are like, so it's a party time. It's a party time. It's a hundred k. Do you think you'll .

get there like it'll be so prevalent? IT is like a huge social problem going to have to address in six, twenty years?

I think no. A lot sooner. A lot, a lot sooner. IT could be like as little as like five years. Imagine like next cycle, we have all the richest people that roll their crypto guys you know like if if, if because in five access from here, like there is giving people much, much more money than you on mask, I assure you.

So all these guys would like a hundred bitcoin um you know at at some point there is going to be a social backlash. And despite this current loop of like the game theory where IT looks amazing and you know we can get like every everything working um you can imagine like the Elizabeth the war and bullshit of like you know these crypto people, we need to take take back the their money. Um it's coming back, right? It's coming back.

Yes, keep keep food. Enjoy big point pumping.

Yeah, I think you started this little rent five minutes ago last five years.

We did. We're doing IT, not today.

George, not today, not today.

It's not today in the I am shocked you think that .

could happen in as little as five years. I mean, that would really be astonishing if we reached that level of bit cornix ation.

I mean, just look how quickly it's moving like in the last a month, like just having A U S. President, I think, you know, we had h our views, maybe this remembered that we had this, we had this big coin maxxi um we did a life IT was I was like, maybe not our best episode ever because we he was a little blaming, but um I think was pause stork. So the the thing that paul, you guys remember this offers so IT .

wasn't 啊不要 member。

Um in this episode um there is still some interesting um pieces of uh the things discussed um and ah in terms of like the, sorry， 我 the question and comment。

I don't know if if in five years were pumping in the short term.

we have to reverse up only course course.

Yeah so um you are saying that if if in five years were really ah yeah yeah just surprised to hear you like that such an accelerated time .

line like I could see a world or there and like twenty years this like to Sophia in future where all the wealth est people were early people to bit coin. No Young people can get bit coin and we have this massive wealth imbaLance much greater than we have today because like if you look at the the equality and baLance on chain of that, who holds the most bitcoin? Um i'm forgetting the name of that term uh for the inequality .

really be gene fission.

The genie confident of bitcoin is insane relative to like state Normal economies, especially the U. S. A theory is much more exaggerated, as long as much more exaggerated IT does distribute over over time. But if if bitcoin is like the world's reserve currency, IT is gonna get crazy quick.

Yeah but in the meantime, I I said, i'm not been driving everybody listening to just forget everything I arrange about for the last ten minutes will talk about IT in four years. Don't worry about any of that suffer. Now it's completely relevant.

We're not at that stage like the world consciousness is not at that stage. So at this point, all you need to know is like you know to reflective asset, we are in the banana zone. And i've been saying this for years.

There will come a point in the point has come in which we realize that there are not enough coins. Michael sailor has said, this is, well, right now, the demand of demand computer, the amount of supply being created by mining is like exponentially imbaLance. What that means is that demand of coins available for sale are quickly evaporating and get into banana zone because there is just no supply. There is no supply, nobby, once to sell until you know obviously like the Prices is is kind of retarded .

um we we can use that .

word again now because like a trump one and I will stop using IT in .

four years or think that .

all works out okay. Um just one last one .

last thing though because this is this is the I have to say like philosophically everything glove a bad, but E T face time home says, uh, but A G S two years away, what do I do so this is the ranch and the whole thing, because this can change the fabric of society reality, when you want to call IT like A G I um if you're not thinking about IT, you might suddenly, like, you know, find your world change in ways that you don't expect. I spend a lot of time thing about IT the the reason I have been investing in the A I category quite heavily. And I talk to a lot of the A I guys is because I wanna get you know a little latest information and thinking to be able to you know start digesting in processing where we're going um .

and to to head, you just buy go yeah I don't .

think you buy gold but he so sorry, I mean will just agree to disagree there. I just you know two terminals moving on to the next point already. So you don't you don't want to get stuck in the old one.

No, my bags there .

is going to be new bags. Just be ready of the way they new OK .

we all know in your .

good person jury, don't worry about IT.

Yeah um cool. All right. I mean, we in our maybe maybe we should call IT. I think next week maybe will be about hundred. It's kind of fifty, fifty. It's a it's it's quite deep decent chance um I pray that we're not at five dollar cards ano and like a dollar X R P by then.

Otherwise we are in thirty times about.

烦死 我。 Man.

cool. Are I voice any last thoughts?

Just make sure to hit subscriber trying. Our goal is to hit ten thousand subscribers by the end of the year, and we're getting pretty close. We've had a lot of anger episodes were getting some big gas coming. And the more subscribers we have, the easier IT is to get great guest. So we would really appreciate that.

Thank you guys. Thank you. And we we will try still see like thicky in the comments people asking about thicky like we all love the key.

We miss key. I am miss the key. You know we he said he might come back for an episode. So um as soon as he ever step away from the P, C, will get them on.

So I asked him, I I asked him, and he said that he'll come on once the market start dumping. He's creating credit. He he can't come on when the markets something nice to be on.

You know, I understand that like people are people are uh, taking advantage of each minute that they have at the trains. If you have an edge on the market right now, the amount of you know motivation that you can do is very high, just you know the amount of utility that you can capture and everything. So I understand that we have a question, where is vitality? So I think that might happen next week. Um I have I I think we have a sixty person. I O if there's a public .

market for IT, it'll be Price is at ninety percent by .

interview. I'll if fatal does come on, which I expect you will footles prediction if P T C the week the week after Green, do.

do you got IT?

All right, guys, we'll see you there. Hopefully you soon.