EP 201: 99% OF CRYPTO WILL BE WIPED OUT | ONLY FUNDAMENTAL CRYPTOS WILL SURVIVE W/ CRYPTO.TRAINER - Transcripts

June 22, 2022

  • Favorite
  • Share

On today’s podcast I got the one and only Crypto.Trainer and we have an in-depth conversation about crypto utility and the turmoil we have been experiencing. It was a great conversation that I think people will learn a-lot from. Enjoy!


Crypto.Trainer's Socials: 

https://www.tiktok.com/@crypto.trainer?lang=en 

https://twitter.com/CryptoTrainer2 

✅ Public Discord is Locked for now. 

Will reopen for subscription soon! https://snipfeed.co/cryptologicjohn  

Business Inquiries: cryptologicpodcast@gmail.com

--- Support this podcast: https://anchor.fm/cryptologicpod/support

Transcript

Hey cryptologic podcast listeners, Have you guys heard about anger by Spotify? Let me break it down for you basically. It's the easiest way to make a podcast with everything you need all in one place, this is how you do it, anchor will let you record and edit podcast right from your phone or computer. So no matter what your setup is like you can literally start creating today, Anger will post your podcast to all the popular listening platforms, including Spotify with a single tap with anchor creators can earn money in a variety of ways, including ads and podcast subscriptions. Best of all anger is 100% free down the anger app or go to anchor.fm to get started today.

You

you what's up everybody, what's up? Crypto family, Welcome back to the cryptologic podcast today have a very special guest. He goes by the name of crypto trainer, He is on Tiktok as crypto. with over 27,000 followers. I highly advise you guys to go follow him. He gives great information about crypto How you doing brother? Welcome to episode 201, two

101 man, that's crazy man. 201 man been watching your content for a long time man and so to, to jump on here and talk a little crypto with you man, I'm really looking forward to it and you know, appreciate the shout out on the channel. I'm just uh just out there trying to help people the best way I can and hopefully entertain them a little bit. Maybe teach them. We'll talk about crypto

Yeah, I love, I love your videos man, I love this last one you did was funny, the crypto Degen's

Yo man, I saw that sound, man, I was like, yo man, I know some of y'all go watch the video, you are guilty of it, I know you are,

I love your content. Oh he has a twitter to go ahead and click that, I'll make sure I'll link everything in the description if you're watching this on youtube and if you're on the podcast, the links will be there as well. But yeah, how you doing? I'm very, very excited to have you on. Um

yeah, definitely, definitely, definitely excited to be here, man, I'll tell you the twitter thing, man, like just go ahead and get this out of the way right now. I think if you're someone, if you're someone new to crypto, just getting into the space, I mean hell even if you're not, but definitely if you're new to the space, like Tiktok is fun, Tiktok is entertaining but there's so much alpha and twitter man, crypto, twitter is just a great place to go learn, there's so many quality creators putting out content on the app, you know, it's a different format with threads and you know, obviously more of the written word. Um you know, it's, it's some really interesting stuff you can find on twitter. So you definitely gotta get on crypto twitter if you're out there right now.

Yeah, that's, I really, I really do believe that is why I think like for any new um person that's gonna go into crypto whether you're a content creator or whether it's just going to be an investor twitter is the first thing you should download, like coin market, cap, coins, whatever one you want to use twitter and then then you go to Youtube Tiktok. But twitter is the place where if you have nowhere to begin, you go to search and just type in dollar sign, you know, like, and it's the best place to like just start absorbing knowledge I believe in. And, and I love Tiktok too as well because it's great places like fine channels like yours where it's just funny or very serious informative content where it's not serious all the time. But then there are serious videos on there as well, you know, and it helps

you got, you gotta mix it up man. It's a funny thing with this funny thing with Tiktok man, you know, they got that algorithm and so you know, sometimes it's, you know, I might want to make a video that's teaching you the intricacies of, you know, a certain project I like or Blockchain and you know, sometimes sometimes those videos don't necessarily fly uh, you know the first like 10 people to see them just scroll past because they don't even know what crypto is and then, you know, it gets, you know, 27 views and like dang

and that's crazy cause there's a couple things I want to talk to you about that because it's like Tiktok is the, like you said, it shows you what it predicts that you want to see based on what you, how many times, how long you're staying on the screen regarding the video that's pulled up currently and what you like and what you comment on. So it kind of like curates the for you page to you and it caters it to you and it's like, okay, this person might like this type of content since he liked this content. So we're going to show him this content and that's where for me personally, where I started to come up with these weird, the screaming intros because like you said the

first man, like

I just wanted to grab you in like the 1st 10 people that watch dictate how your video does well. Right? And I'm like, well how do I just be different? I'm gonna yell at them. I

mean that's it. I mean the first couple of seconds man being unique, being different, you know, but also being yourself. You know, that's what, that's the thing. You know, Tiktok just the, I think the genius and the algorithm, um, you know, just the platform itself is that, you know, instagram is like, you know, this like posh image of yourself and this lifestyle.

Exactly, you gotta

be flashy and like the Tiktok could just be like more raw. You know, I can just, I can just pull up the camera, just talk to you. And uh, you know, a lot of the videos that go viral on Tiktok or a lot of videos that are really successful there, you know, they wouldn't have popped off on instagram, they wouldn't have popped off on facebook back in the day or whatever. Um, you know, because it's just a different platform and so it's, it's definitely fun making content on there. You know, I enjoyed a lot. I look at it now, like people like you and me, you know, if we're, if we're out here creating content in this market right now, you know, this bear market is as bad as it's gotten and maybe as bad as it's gonna get, we'll see um, you know, we're probably gonna be the ones that are gonna stick it out and see this thing through for the long term. So

yeah, that's, that's true. Like Tiktok at the beginning when I started last year, um it was very, very different compared to what it was now. And I know that they purged a lot of people because they did remember last summer they announced no more shilling tokens, you cannot say, oh, by this token, by this token, like they'll community guidelines real quick, right? If you predict prices anything like that and people were shilling sheep, People were killing people were shooting like those safe moon type tokens. That was really stupid.

Oh yeah, let's go, let's go and get this out of the way right now and go ahead And the crypto trainer stance on this. Stay away from

just,

just, just stay away from it. You know, this market, we'll see where it goes. Um, you know, there's a lot of plays out. She keeps the play. I'll put my stamp on. That one is not to play.

The creator bounced. He deleted his social media everything

I know he just disappeared. You know, trying to pull a Satoshi I guess because

they're coming after him. They're coming after eon musk ray now because of him representing or shouting out George coyne.

I

don't think it's gonna stick. We know it's not gonna stick. But the fact that people are the sheep creator was like, oh no, that's not gonna happen to me. I'm out of here.

Yeah, yeah. She, I mean, you know, I talked about it on my channel a little bit, you know, I, I wish everyone well in the space. But um, you know, sometimes I think, you know, your eyes are a little too big. You know, you got, you're looking at the wrong thing and some people got burned on that one. Just

A waste of money just for like, what, $246 million, volume $4, billion dollar market cap. Just a waste of capital. That could be into another type of token. That's more fundamental, right? And that's why I'm like, well Tiktok initially, you would feel kind of, let's say like your investors and your friend or somebody appear wants to get into crypto, you say twitter. But obviously twitter can't be the only thing. And last year it was very hard to tell somebody, oh, go on Tiktok and you can learn a lot from there because there are so many schiller's, there's so many people that are getting hooked, gave them tricked into these wrong tokens.

I'm telling you, it's the same thing, man as, you know, the Tiktok space being a career in that space, being there for a while now. It's the same thing that's happening on Tiktok is happening in the market. Like you gotta purge some of these schiller's, we gotta purge some of these creators out and get them to go away. The same thing is happening in crypto like, you know, whatever the number is up there somewhere. Ballpark, probably 38,940 I think is the number there on the screen. Various kryptos, like We don't need 19,940 kryptos. Like, you know, we just don't need that. So something's gonna have to get purged. And so I think the same thing happened.

Yeah. And that's exactly what I was alluding to is Tiktok, they purged a lot of those creators. I don't see any of them anymore. And I remember growing through like, man, what is this? Why? And if you had a really serious video, a really good one, it wouldn't do well, it would maybe get 1000 views while these guys were in 15, 20 K, 30 K just capitalizing on This is gonna go 1000 next to the moon. And now it's getting better, in my opinion, is getting better. More serious. Content creators like yourself is becoming more um of a norm, a norm, right? It's more of a necessity. We need that because, and then,

yeah, I mean at this point, at this point, the market, there's, there's no coin to shield 100 X right now because the market is just in shambles. And so, um, you know, my hope is that for people, if you're still on Tiktok or you're thinking about getting on tiktok or twitter or wherever, you know, lean into learning. You know, it's fun to watch a video where they might talk about a project that they say it's gonna 50 X, 100 X 1000 X, whatever. But at the end of the day, you might get lucky with one of those, but if you build knowledge for the long term and understand how the space is moving and what's happening, you know, you're gonna be ready to jump on the real wave when it comes, whatever that might be.

Yeah. And, and I believe like youtube was the same way um still still has those types of content creators and videos out there, but Tiktok is more in your face and yeah, you want to, you want to find, you gotta, that's what I said. I sent a tweet out the other day. You gotta vet. Now is the time during these times the bear market like this is to vet, the creators are consuming. Are they changing up their strategies or what they used to talk about a month ago. Are they still talking about it now? Do they still have the same sediment the same morals? You know what I mean? And, and that's like a big thing because coming into the every new, every year, there's gonna be a whole new crop of investors and a whole new crop of creators, whereas they see this guy is not explaining this well or I can explain it better and that's why I always advise people on the podcast and I always have other creators. It's be authentically you and just don't try and reinvent the wheel. Just, just know what you know, and, and be confident in your truth.

That's the only way you can survive is when you're confident enough to change it up, change what you're saying what I said last time etcetera, etcetera.

Yeah, absolutely. Man, it's just again, I draw a correlation between the creators in the content creators in crypto space and, and the projects that people are looking at and researching like this market right now is where you find out who the real builders are, where you find out who's really invested. You know, whether that's a creator and they're they're trying to create a different type of content. They're trying to connect with their community or it's a project that is continuing to build, its continuing to grow, you know, their foundational numbers, whether that's users accounts, total value locked, whatever the case may be versus the people that were just, you know, tweeting out, you know, buy our tokens so we can go to the moon and they set up tell you a new price target. And then by the way, that's a red flag, if you're, you're looking on twitter and all the projects page is talking about is price targets and taking something to the moon, like stay away from it. Like that's just, that's gonna be a recipe for disaster,

yep. And so with all that being said, I want to get into more of your journey. And when did you like, what, when did you get into crypto? Right. And why did you stay in crypto? What did you feel your purpose was to make you pick up the phone and then just start recording on Tiktok because most people like you don't really correlate Tiktok with crypto just recently, last couple of years is when it really kind of, I think took off, it was a dance app. It was a trendy app now, it's a, it's basically a new source place now for a lot of people. Yeah,

so yeah, so for me, you know I was, I came into crypto, you know thanks to Covid um didn't come in right at the Covid crash but you know I came in in in late 2020. Um you know a friend was kind of telling me about the theory. Um you know, I know your feelings on the theory um uh you know, but uh you know I was learning about the theory and started kind of investigating the space and what was possible um and just got really, really interested and so uh for me and why I stay in the space and what's so intriguing to me about it was really I come from a background. So crypto trainer, that name is not really an accident. So I work in training and development for a web two company um leader of training For for a software company and been with that company for about 10 years. So training is what I do and honestly I got so invested in crypto and started looking at so many of the possibilities with crypto with Blockchain and what the future could look like. Um I looked at it and said really think like The biggest kind of mission in training individuals around the world over the next 10 2030 years is gonna be on boarding people and educating them about crypto Blockchain and I really believe that so again I'm in a web two company now in training and development have been there for a long time and I am happy but um I could very much see a future where you know, I would be in the crypto space full time and helping helping educate people and um you know, I just think there's so much potential here that the the the upside for what crypto and Blockchain offers the world I think is um it's too much to ignore so I'm gonna stay here,

that's that's amazing and almost every guest I've had on said that a friend brought them kind of like showed them something, I'm like those are like the best stories because it's always were you initially accepted to that or were you like I'll check it out later, I'll check it out, you know,

I'm kind of, I'm kind of you know I'm an optimist, you know, I'm a glass half full kind of guy so like you know, started you know hearing about this, started asking a few questions and you know the person, the friend that like kind of kind of started talking about a theory and start talking about crypto, you know looking back, I'm like man, they didn't really know that much about what they were talking about really like you know, they were just, they were just like too rude, you know and so you know I started really looking into it and started seeing like man there's like a lot of potential here to really transform so many things, you know, are that are so key in our world. Um and so, and again that's just what hooked me. I was like, man, you're just scratching the surface, you know, the dude who told me about it. Um and so yeah, it's kind of funny how that worked out and now he's like, you know, reaching out asking me questions, what do you, what do you think about this? And you know, where should I go learn about this and that?

I wonder if like Because you, that was like 2020. So that was before the Elon musk hype. Before the dog coin hype. Did he go, did he go down that route, did he, did he, your friend go down that does come around and go out that his stereo.

So he, so he went down that route a little bit later than than I went down that route. I actually went down that route.

Yeah, it was inevitable. It was like, yeah

dog is actually one of the first kryptos I purchased was the first one does coin was I think probably like the third one I purchased and actually got it for under a penny. Um and

yeah,

So I wrote that though, you know 2021 was wild. You know, I think

there's, I

think it was and I think there's a lot of merit to, you know this idea that people talk about, you know, I don't know if you've heard this, but there's folks out there talking about, you know, when was the real end of the bull market And like if you, if you think back to like how things felt in like early 2021. like it felt to me, it felt, yeah, like february March april like it felt so different then then it did in like september october november. Like, like I kind of felt like in september october november was kind of waiting for the house of cards to fall. Like I didn't like, I was like this is cool.

I

really believe it. Exactly. It was so much like sketchy just but like january, february March, april 22 11, like everybody just like to the moon. It was crazy that game stop going on and AMC people

changing their lives overnight. Content creators are getting tens of thousands of followers.

Yeah, it was

a lot of must buying a billion dollars worth of Bitcoin and and being one of the first largest companies like that to do that. And then that was before we started seeing commercials. We started seeing everyone talked about it before the politicians started talking about it before the feds start talking about digital currencies and everything. And we started seeing as it unfolded just everyone's talking about it, everybody, it's becoming a serious thing and then

it is, it definitely is, but also at the same time, it, you know, especially in this market right now. Like it feels like there's still that huge group of people that say it's a scam, it's going to zero. You know, which some things will go to zero, something should go to zero, you know, like, Bitcoin is not gonna be one of

them. Exactly.

Exactly. Like I said, we don't need we don't need 19,000 kryptos, you know, so I think the builders will survive and and see this thing through, and I think, um, you know, there's a lot of, there's a lot of projects out there, there's a lot of teams and people that have proven they are the builders. Um, and so it's just, you know, a matter of actually going out there and spending the time to learn about them research and and spend time in the space. So

it's a beautiful place. If you take it serious, if you respect it, it's a beautiful place to be. You'll find people with like minded ideas and thoughts and sentiments about you. And obviously there's people that disagree with a lot. That's a beautiful thing about it. Crypto, there's no discrimination in regards of who you are as a person and what you look like or anything and as long as you're true to yourself, right? And you don't say things just to to to gain friends or you say something to just gain followers, you say your truth, and that's the beautiful thing about it is if you do that, you'll be all right, you know, and builders that actually have potential like a reason for their purpose, they want to change the world rather than being a rug pool rather being just something that makes fake, make money and then dump everybody and leave or something like that. Right? That's the scary thing about crypto though, because it's both sides of the coin.

Exactly, and that's why, and that's why it's so important that, you know, you're, you're spending time, it's very easy to get excited and and kind of feel fomo for a certain project that maybe he's making a run or you know, maybe your friend tells you about a certain thing that they bought for, you know, 1/10 of a penny and it's gonna go, you know, to $5000 or whatever, but you know, spending the time to actually research the projects, research the people, you know, I I think that's something right now, that's really rare in its head, is that, you know, with all these, you know, with everything going on with Celsius, three arrows capital, you know, three A C. I mean, we're looking at major players in the space that are, you know, getting liquidated, potentially gonna, you know, gonna their businesses are gonna go under. Exactly, and it and it comes, but I think it comes down to the fact that the people behind the projects, like if you look at Celsius for example like the people behind the project like they're people, they're human beings, they have emotions and sometimes people do really dumb things and um you know, one of the things that some of the major players in the crypto space have done that's coming to light is you know, they've really leaned in heavily to leverage trading and they've gotten over leveraged and you know, it doesn't matter necessarily, it does matter. But I mean you can get over leveraged whether you're using $100 depending on your stack or whether you're using millions of dollars like you know, some of these major players are doing and you know margin calls don't really care how big of a player you are and that's, you know, that's why that's why some of these, some of these big players are going down and and yes sailors, sailors hurting right now for sure. But that dude, I mean he's so convicted man

to save himself from being liquidated.

Yeah, I mean he's, if Michael Saylor sells his Bitcoin, I think that is a clear signal that these markets are in trouble for sure. So he will probably be the last to capitulate

And that's, that's like every, that number um that we've been hearing about for before it actually finally happened was Bitcoin going under 20K. It's been going on and it did 117 and everyone thought there was gonna be a cascade effect was like was it 17 everyone's gonna freak out it's a tumble rebounded right back up to 20K. And there was a rebounding market on father's day yesterday right? And I'm like yo these are these fake fomo rallies like getting people hyped getting people oh everything's gonna go back up or creating new four prices for people where they think a certain prices is not going to be the same anymore right it's never going to go back to it or something and it kind of creates this fomo feeling like this for a lot of people I think and that's like you gotta be careful. Yeah

You definitely have to be careful that I think you know at least for me and the way and the way I'm thinking about the market right now and thinking about Bitcoin specifically is the fact that right now Bitcoin's under the 200 week moving average which historically Bitcoin has dipped below the 200 week moving average for but it has never stayed there very long and so will it stay there very long will it not stay there? I'm not sure But I think I feel confident that this is an accumulation zone. I think when you're talking about Bitcoin at least you know now the other side of that coin is you know you say it's probably gonna get above the 200 week moving average. You know we'll see but on the flip side of that You know every bear market that we've seen Bitcoin's dropped at least 85%. And so that

would put Bitcoin, yeah,

so that would put Bitcoin at 10,300 roughly for for a bear market bottom, if we saw 85% from the top, which I'm saying 69 K. that puts it about 10,300 so that says, well looks like we got about 50% more to go um on Bitcoin and if we get that on Bitcoin, You know, you're probably getting, you know, who knows, you know, 60, 70, 80% more on some all coins, you know, some all coins obviously definitely go to zero.

Yeah,

there'll be a lot that will be purged out, but you know that that's kind of the game we're playing right now and so, you know, I think, I think the long term mindset is is you know, it is going to prevail, it's proven that it will prevail um and that's how I'm I'm approaching the market, at least it's just, you know, I'm definitely an accumulation zone here and being being optimistically cautious with certain adults. Um you know, something I know I want to accumulate at this point in the market, I think it's about, you know, um how much can you accumulate versus what's the value of my staff at least from my perspective, you know, if I can, there's some projects I'm interested in and I can accumulate a certain number and I feel pretty good going into the next run. Um Given that they stick around.

Yeah. And, and the interesting thing about that, right? Like you said, is the accumulation zone, right? That, that means a time basically where your dog cost averaging in correct. And I have a buddy who's saying, he said he's not going to buy a Bitcoin cash saved up and he's like, he liquidated, he sold all his bags, he sold all of it. Um, I think like a week ago he, to me, he was, he was just an investor. He wasn't, he doesn't make content or anything, he just crypto last year or whatever. And He said, Hey, I sold everything before the crash, this crash happened before Bitcoin tumbled under 30K. Right? And so I think he sold at some losses Most of everything was, I Gotta lost pretty much, but he saved himself from further loss. So his mindset right now, I literally was speaking to him earlier, he's like, well I'm waiting for Bitcoin to go to 10,000. That's his number in his head.

And I told him I was like what if that never happens, what if Bitcoin goes to like 12,000, you wouldn't buy a 12,000. He's like no, 10,000 the number, I'm like, okay, well people are predicting like, like, like 10,000 Bitcoin, that's the suite number. What if it never happens again. That's

the scary thing. That's a dangerous game.

Yeah. So he's trying to time the bottom and and go all in at that point. I was like that's so risky

because yeah you can.

Yeah,

That's that's a tough game. I mean, you know, it's it's it's really hard to guess the bottom and you know, and maybe we hit that 10,000 number, maybe we don't. But um you know if we don't if you set your heart on a certain level and say I'm gonna go all in at that point, you know, I think it's important to remember that generally speaking the whales, the market makers, they're really in control of this and they're probably smarter than you are about these markets and so they know they know people are targeting certain levels and generally they're gonna probably try and take the market where everyone doesn't want it to go. So if everyone wants to go to 10-K. They're gonna let it get to 12 K. And then they're just gonna turn it the other direction, you know, and that's that's how markets work. And so um you know that's why it's it's it's one of those things where um you know, you gotta stay unemotional and uh you know keep trying to pick a target and and say I'm gonna go all in at a certain places.

Yeah it's a dangerous

game. Yeah.

And I'm like thinking I'm like I'm like okay like you gotta understand here like the amount of money that I saw like a charts on me, like a chart, like I kind of, I can't think of the number top of my head, but like it said in 2012 Bitcoin went under 200 bucks, that was the bottom and then in 2015 or whatever it was 2000. And then, and then all the way up until 20 K, right? It was like, you know, and I'm like, look at the difference of every few years, how much, how much of a gap

we're

Creating from the $200 in.

Exactly. And, and, and that's, and that's one of the things I'm actually um this might be part of that video, heck, I don't know. But I'm gonna make a video about this on the, on, on my channel. I've been thinking about this a lot lately in this bear market is the fact that a lot of people often think about the, from the top of the last bull run to the top of this bull run and that certainly matters. But I'm also starting to look at projects that I'm interested in and looking at the bottom of the last bear market to what could be the bottom of this bear market. So

it's exactly

what it's gonna be orders of magnitude different, potentially. So, you know, in my mind, you know, let's take a project. Um, one that I don't know that you're a huge fan of this project, but talking about Cardinal for a second. Uh Okay, okay, so Cardona in the last bear market, You know, bottomed out at about two cents. Right? So if we were to see Cardona's ballpark, 50 cents right now, so if we were to see a 20 cent Cardona, okay, let's just say we're at 20 cents, right? It's a 48 cents, right? 49 cents. If we were to see a 20 cent card, I know, in the spare mark, That's a 10 x from from the bottom of the last book. So, you know, let's say the bottom was, let's say it because it's 47. If that's a that's a 20 X. Right?

If we were to go 20 X again in the next bull market or the the next bear market bottom would be $8 right? 40 cents, times 28. The bottom of the next bear would be $8. So like looking at projects in that way, uh you know, maybe you might, you you might want to call that opium um you know, but it's something I'm looking at and just thinking of where did the bottom before, where could it bottom now, You know, if that's a two x three x five x 10 X. You know, could we see that type of return bottom to bottom in the future. Um

That's yeah, that's literally I've word that in the past where I'm like, you see a bottom from four years ago or two years ago even And where the lowest point has been in that year, and then if you look at the next this current year, when 2022 is over, you're gonna look at the newest lowest, the lowest it's ever been in this year. It's going to be, like you said, the 10 X eight X from where it was before, it's just it's gaining more and more as the crypto space evolves. And I also mentioned when you said earlier, When the purge happens, when these 19,000

kryptos

Goes down in like 1500,

it's happening,

That money that's in the crypt is going to have to flood somewhere, it's going to flood anywhere. That's where you see $100,000 Bitcoin.

And I was I was watching, I was watching a video the other day, you know, kevin o'leary, you know, mr wonderful people talking about, people talking

people

talking about it,

he's on he's on there with his suit and talking to sending the loom is and you

know, but but he says, you know, you know, 800 billion, you know, ballpark the market cap of the crypto section, I mean 800 billion, Like that's nothing when you think about, like, the global assets, you know,

the

Yeah, like it's it's insane. 100 800 billion is nothing, and so, you know, when I think about the fact that in a bear market right now and things don't look good, You know sometimes some days it's worse than others. You know and you feel bad you get down but there are so many things in the future that we have to look forward to. Um

Exactly

that you know a Bitcoin. E. T. F. A. Spot. Bitcoin that is going to happen in theory is gonna happen. The theory emerges gonna happen. You know the X. R. P. The ripple with the sec that's gonna get resolved and right now it looks like ripple is absolutely handing it to the sec.

And so you know that's gonna be a bullish catalyst. Um There's so many things going on in the space that are our future indicators of success that at this point you feel almost like a certainty um you know nothing certain.

That's the question right? Yeah

it's um you know the fact that you know a lot of these. Exactly, exactly. You know and and there's definitely some of those in this space now I think there's something that I haven't even been created yet, especially in the metaverse space. There's so much, there's so much that's going on there so much that will go on there is that you know it's it's easy to uh it's easy to forget about the metaverse maybe and this bear market it was one of the hot things near the end of the last run now it's like it's not real

things blew up to

sandbox sandbox actually. Um you know sandbox actually there, the weekly R. S. I. Um on sandbox is actually the lowest it's ever been in history right now um which is kind of interesting though, fear into the metaverse, you know, you're looking at sandbox, so you know, you're thinking maybe maybe it's something to accumulate for the long term. I mean there might be some opportunities for sandbox.

Yeah, sandbox gala engine. Those are some of the ones I consider blue chip flow. Those are ones that I think will do very well um when the regulation kicks in and when things start picking up, Yeah,

gala gala games is one is gala games is one that I, I honestly wrote off when I first heard about it because I first heard about gala games, started reading about a little bit whenever they got listed on coin base, I can't remember exactly when it was, but I'm pretty sure it was like in the hype, in the midst of everything happening in, in late 2021? And uh you know, one of my buddies was telling me about it and uh I kind of just wrote it off, he's like, what do you think about this? And I'm like, well it's just pumping cause I got this little coin base and you know, I'm not really sure what's there and then I started reading about and uh you know, there's a lot of interest stuff going on with with gala games and you know the fact that I was listening to a podcast. Um not this one, unfortunately, I was listening to another podcast and they were talking about gala games and the fact that they spent a billion dollars a billion with a B

in

January of 2022 alone on development in their plan, a billion with a B. Um I think I was listening to paul Baron, paul Baron network podcast came in the name of this podcast, but if you're in the metaverse you should definitely check that out for sure. Um but it's just the amount of funding, the amount of money that's going into that space. The amount of billions have just had the gala verse event um you know, and and partnering with epic games, they're launching the game on game on the epic games store um and so they're building a gallows, got a lot going on. They are building,

they're doing the things that keep you from going. Okay, well they're not gonna go to zero.

Yeah, definitely, definitely one to watch would be,

they're not laying off people, they're not, you know, they're not doing things that sign like, oh we might not make it.

So talking about speaking, speaking of that, you talked about the crypto Layoffs. Um so my wife was actually interviewing, I don't know if I should, I don't know if I say this, but my wife was interviewing at coin base, she got to like the second or third round of interviews and literally the recruiter told her like at like two o'clock in the afternoon, like a couple weeks ago, one day like hey we're gonna move you forward to like the final round

of interviews

and then like an hour later I was like, hey babe coin yeah coin base just froze hiring. It's like before they laid off, it was like they're freezing hiring and she was like, the recruiter just told me like an hour ago I was going to the next round interview so I was like, well I'm just telling you what I read on twitter from coin base about what they're doing and then like sure enough the next day the recruiter reached back out and was like, yeah we're not, we're not going to be moving forward. It's, you know, it's yeah, that was crazy because we were so hyped up when she got through a few rounds of interviews and you know, she was, she was excited for the opportunity and you know it, it didn't work out but and I was like maybe

get the

door, give me a little outfit. Uh you know, I was high but you know, it didn't work out and you know it sucks to see but oh 100%. I mean a lot of really good people I'm sure and you know, I've been through that, you know, I've been through that before as well, you know, I've been, I've been in the room having to make some tough decisions about laying off folks and it's, it's not fun and it's really hard and definitely not envious of people at coin base that had to make those decisions. But you know, I, I do think that coin base, you can have your feelings about coin base, you like them, you don't like them. You think they're evil. Um, you know, whatever the case may be, but I think coin base is definitely gonna be around coin base ultimately going to be a winner. Their stock is crushed right now, but long term. Um, there, yeah, they'll be fine. Their user experience is just too easy. It's too good. They've got too much funding. Um, I don't want to say they're too big to fail, but

they could almost be put in that category

that you can

slide them over. And I think coin base, for some reason, I think they're on the side of crypto investors for me for some reason, I think Coinbase pro, they made it for the people. They're like, hey, if you're in the crypto, get on the Bass Pro, the fees, everything. It's like, I feel

like, you

know what I mean? I feel like that's what I use now and I'm like, okay bases like for the new movies and stuff. I think they made profile, Hey, just get over here, we got, you don't worry about

coin Bass pro is solid and you know, I'm I'm a huge fan of coin too and

if you've seen their new tax the way they do the taxes, they say you can label all the expenses that you've had.

It's a

gift, it's a gift. It's transfer my old mother. You don't have to just they allow you to basically put on your form. Hey this is a gift hey this is from a different one. I already have this money, this is not new money. And then obviously your transactions that recording corn base will be recorded as is if you sold for a profit that's different. But I like that I was playing oh this is cool this is this is

even

if I move it around and stuff

like that,

I'm just playing around with it. I was just playing around with it and seeing oh wow this is cool.

It's I mean yeah

very helpful to you know

100 100%. And that's what I mean those those platforms, I mean you know F. T. X. Is obviously going to be a player as well and crypto crypto dot com you know, is is going to be a player I think also um you know, but but coin base um you know I think coin base is just their user experience and yeah

it's just too perfect. It's almost perfect for someone that's hey don Coinbase and go ahead and you could almost say almost other than the fact what happened with luna because they didn't have luna on there. You can almost say that anything that's on coin base is particularly potentially safe. Remember though any Krypton go to zero, right? Any crypto can go to zero. But I'd rather have them go there than something like, you know, I think it was a white bit or something that has all these meme coin and stuff like that. Right? For example, exchange that can list things based off money. Right? Coin base does list George. They did list sheep. Yeah,

they're, they're, they're, they're trying to make money. I mean that's what, that's what it comes down to. They're trying to make money because I mean, you know, I'm pretty sure, I'm pretty sure there's a project that you and I have a shared interest in that is not on coin base and I don't understand it right now we're talking about today are a hash brown, you know, so you look at a project like Hadera, you know, the legitimacy I believe behind that project, the team behind it, like they're building something real and it's like, how are they not on coin banks? You know, and I look at the, look at a project like that. I'm like it's sitting where it is right now and it's not even on coin base. It's, you know, it's like what, you know what's gonna happen when a project like that gets on coin base,

you know, I was,

yeah, I'd love that was honestly that was honestly one of the things which I mean I know we weren't I wasn't supposed to do this or she wouldn't wouldn't wasn't allowed to do this. And I was like yo you get a job at coin base, you're going to find out why they are not listing H bar, you're going to find out like why what's the real criteria? Like you're gonna give me a spreadsheet, you're gonna show me like we're gonna hammer this out because like what's

going on it,

I

think it will get listed on and it's going to change right now. Obviously there'll be a little bit of a pump. But I feel like it's like magic waiting for that token because that community is very powerful, very strong. Just like it's almost borderline as strong as X. RP community where it's just a bunch of people that that are holding that thing just been holding and holding and they know the potential of it, right? And obviously the naysayers, the supply and everything with extra people, all the supplies and the billions. I'm like now just look at the use case,

I look at it. I think the bear market is the perfect time to look at this is you know when you when you're looking at a project it goes back to uh you know, maybe you've heard this before. Maybe people listened and heard this before. But you know, Jeff Bezos was talking about amazon and the dot com bubble. And, you know, he was looking at the stock price, the stock price crashing like 90% or whatever it was, he was like, I looked at our stock price and he wrote this letter to investors talking about, you know, the fact that, yes, our stock has dropped 85 90% but all of our metrics in the business are like, we're going up. And so when I'm looking at these projects, I'm saying, okay, you know, there are some projects I look at and say, okay, how many users are the onboarding? How many active wallets do they have? How many dads are they deploying? You know, how much total value locked is there on the platform depending on what they're trying to do. And if all those metrics are going up into the right, you know, and the price is going down, then, you know, there's definitely more to investigate there. But it's not all doom and gloom, you know? And so I think that's something to definitely look at.

When you're examining these projects is, there's gonna be a ton of projects that they're currently are, but it's gonna be even more where users run away from it. You know, they sell in a go away and there's gonna be some projects that keep building and keep innovating and they're gonna bring more users to them. Um, and those are the projects to really keep an eye out for is you know the projects that are innovating, the projects that are continuing to grow and um there's a lot of them out there if you spend the time looking for.

Yeah, that's so true and and that's why it leads me into thinking like how how the next um bull run is going to look right and is it safe for you to say like are we actually in the bear market right now or is it just like a bearish trend or a bear cycle? We're in a bear market.

I believe we are 100% of the bear market, I believe we 100% have been in a bear market. Um You know, there's a lot of people, you know, There's a lot of people that would say and and and I don't disagree with that, but I think there's a debate to be had, there's a lot of people that would say, well the bear market obviously started in late November December of 2021, right? When we peaked in November and then things started and that's kind of when the bear market started. Um and we actually had,

we actually, we

actually had the first read the first one that I remember, I mean in this market every single day, the first like real like bear market capitulation. I feel like we went from like 48, K to like 41 K December three of 20, and I remember it was the day of my wedding, Oh I literally got married. I was I literally bought some crypto in the car with my best man on the way to the wedding on my phone, put my phone away like 89 hours later or whatever after the wedding was that we were leaving the reception to like go out afterwards. I look at my phone and bitcoins down like 15% and I'm like what is happening? Like what is this? I will never forget that. But the point I was trying to say there is um there's a lot of people that would say november december when we started, but there's a growing, there's a growing um talk track around maybe the bear market started In mid 2021. And and we actually had a false top. We actually had a fake topics just institutions pumping to the top in

november.

Exactly. And um you know, and I look at that and think that maybe that's a possibility. But I think you look at, you know, how long is this bear market gonna last? So if we've already bottomed, if we've already bottomed, Maybe November 2021 wasn't a bull market still, maybe it was a bear market because you look at a bull market or a bear market last

institutional money that came in and got their their foot in the game.

Yeah, it's it's just, you know, it's a funky market, but you know, I think, you know, I think either way we're definitely in a bear market um and and I think a lot of people in the space, you know, one of the things I see, and I've been guilty of this at times, but I'm trying to get away from it is a lot of people want to try and fight the trend, like you're looking at the price in crypto or you're looking at a certain project that you like, and you're just trying to figure out like when it's gonna reverse or you're gonna say, are you gonna say, oh well, you know, I really like X project and this project has been going down for the last four days, it has to go up on the fifth day, like the trend won't last forever, you know, and and they say the trend is your friend, you know, like a downtrend, like we're in a downtrend, like don't necessarily try and fight it. Yeah, we might have relief rallies and yeah, you know, you know, we'll hit a bottom eventually and go back up, but um don't try to just be contrarian, you know, just for the sake of being contrarian, if we're in an uptrend, buy the dips and you know, sell the rips and um you know, if if we're in a downtrend, um you know, buying those dips can be a little bit more dangerous unless you have a long term mindset, so um the trend is your friend,

the trend

is your friend.

That's why buying the dips right now is also, yeah, like you said it could be dangerous for a lot of people because you can like, like Kwan is one of my favorite token is one of the easiest ones you can kind of say in regards to the price action right? In $2021.40 in March of 2020 and then the next year hits an all time high or yeah, its all time high of $400. You see the difference of Wealth that was probably made for those people that bought a dollar quant, right? And then you see quan now at $56 or whatever it is. And then just a week ago, $42. And then my head, I made a Tiktok, I was basically trying to say like there's some people that Wanted to buy a $4 quan. The funds don't come in, right? They come in now it's $56 And now you have a choice. You're like, well Dang is going to stay at 56, is this the new floor? We'll just buy it now and then three days later it goes back to $44 and you're

like, that's

a scary thing. That's a scary thing for a lot of new investors or people that aren't it,

definitely, it definitely is. But at the same time, you know, I think one of the first things, first things people have to, to do, and I think it's a mistake that a lot of newbies in the space make is they don't have clarity around whether they're a trader or an investor and they don't have clarity around what their time horizon actually is. So when you look at a project like want, that's the project I happen to love as well, um, and, and really bullish on for the future. I think there's a lot of reasons for that, but Quant is a, you know, say you bought it at 56 dropped to 40 for, well, did that drop happen because the market was just in a downtrend or did that drop happen? Because something fundamentally is different about Quant and, and nothing is fundamentally different about quant except for the fact that the fundamentals are getting stronger. That's what's different, right? Like they're continuing to build their continuing to grow partnerships and so when you are in a project like that, and, and you see the price action that obviously is that what you want to see, you know, everyone's got their own journey and their own strategy, but if the fundamentals of the project haven't changed, you've got to understand that markets are just driven by emotional people, you know, and, and irrational people and markets, um, I think the saying is markets can be irrational longer than, you know, um, you can stay liquid. Um, and so you know, it's again the trend is your friend. And so that downtrend, that downtrend can be fierce and if you feel like it's irrational that it's going down like this, just understand that markets can stay irrational for a while. Um same thing goes on the upside as well. It might be irrational that something's bumping. Um markets can stay irrational for a long time.

So just focus on the fundamentals.

Yeah, yeah. Just focus on the fundamentals, focus on on if, if like you said, they changed the leadership team, change any scandal come out, anything happens, something failed like a salon just

crashing. Like

you can see the fundamentals and there's problems,

have you, have you, have you heard anything about what's going on with,

you heard about getting liquidated or something like

that actually, you know, Selena is cause a lot of such a frustrating project for me. But um you know, I'm not here to, you know,

like a catfish of crypto. I had him on the podcast, he said Solano's like the catfish of crypto.

I mean,

yeah,

I mean the thing right now that's happening with Selena, that's, that's really frustrating and you know, Selena has um I don't know anyone that's actually research a project that really knows too much about it that would actually say it's decentralized, but it's, it's rather centralized, but you know, they've got a whale that is putting some of their defi at risk. Um, and, and they actually just took a vote um, to take control of the whales wallet to kind of freeze their funds from being able to put the network at risk, be able to put defy risk. And so, um, you know, that's that's at least in my opinion, that's not really what we're talking about in crypto, that's not really what we're looking for. We're looking for decentralized finance. We're looking for um building middleman. You know, we're looking for providing access to financial services for the masses and many other things, but we're talking about the financial services. Um, you know, they're just a bank, that's a bank, you know, a bank or the government could, you know, potentially freeze your funds. Like that's that's no different than than what we have now. And it's it's tough for Selena.

And I was thinking about this for a while, where I was like, okay, there was this narrative going on in the past two years, the ethereum killer who's going to destroy what ethereum is designed to do. They can't even get started their sinking ship, right? To point out is coming mergers coming and they're going to say, all right, you guys all sit down, right, let's let us get on our throne here, right? That's potentially what ethereum is going to be the king or queen to the Bitcoin, whatever one day, maybe surpass Bitcoin, right? So everyone was like, Selena look Salon is up and running and it's no problem gas fees. Look at that avalanche. Right? I love avalanche. And you got luna. You have these exchange exchange these tokens. The later ones that blew up went snuck their way into the top 10 and we're thriving. They were like we're ready to go.

We're ready to go and sputtering right? But it's still there a lot of institutional money and you see them going crazy and getting all this volume to them. Making people a lot of money on N. F. T. S. Everything that luna. Oh they got decentralized, unlock avalanche is amazing. I do love avalanche right? And

you

see our card. Oh no not fully fully optimized its full potential yet not even close.

You see

experience sputtering and and and having gas issues. You see X. R. P. Being held back with a lawsuit, Srp has potential to dominate the empty space and everything like that. You see an H. Bar and why are they not going? These things are supposed to be so fundamental. Why why is Alana? And I've been beating them And I'm like these guys how I look at it when you zoom out. I'm like when you look at these tokens at the end of the day there's going to be like a sheet that just comes over and wipes out what we see now it's like wait a minute. The real ones were cardinal X.

R. P. These Salon A and luna. Those are tricks they tricked everybody. You know what I mean?

I look at it. I definitely think there could be some truth. I think there's going to be a sheet pulled back on, a lot of the sheet pulled

back and they're like whoa they're still there.

Right? I mean it's you know you got you got these projects, you got some of these projects that are that are you know stood up by this venture capital funding and you know they're they're getting you know some real money pumped into them and and seeing price jump on and their retail might jump on, you know a little bit too late generally. But on the ethereum killer thing, I

mean

that was a huge narrative And I and I and I and I think it will become a narrative again whenever ethereum two point oh actually happens and there will undoubtedly be some to use your word. There'll be some splitters right there there'll be some problems when emerge actually happens. That's just that's the way building products. That's the way building software is there's there's always gonna be issues even with something like ethereum 2.0 being delayed for so long. Um The only ethereum killer is a theory. So ethereum two point oh will kill ethereum. Um And then we'll have a new type of ethereum. Um And and the way I look at the market and think about it is, you know right now there's a lot of these layer ones that are trying to do everything right and that's just the nature of the market right now. They're trying to figure themselves out and and figure out what sticks and what can attract users but I think in the future When we get that you know whatever the number is not 19,000 number of crypto projects that exist that are being used at scale. Like I think these projects are gonna somehow find their own sort of niches right? Like I

think like

right like like maybe Cardona will be like the N. F. T. Platform. I'm not saying our Cardone FTS are the greatest thing since sliced bread but you know Cardona maybe the N. F. T. Platform and a theory of might be the defi platform and X. R. P. Might be you know we talk about reminisces right, global payments like you know

exactly,

you know um you know a project I love algorithm, you know might be something else quite might be something else, you

know.

Exactly. You know there's there's a lot of potential there. I don't know I don't know if all these projects will succeed at scale doing everything,

you know,

you know we'll see. But um it's just the way I think about the market.

Yeah and and and that's that's very interesting to to like like thought on it and I'm also looking at how how where we are right now it's kind of like a standstill because you look at the top 10 it's horrendous. This top 10 is stupid. Three of the tokens are stable coins and coins in there and you got Solano right there right out of those you've got Bitcoin ethereum um card. Oh no and X. R. P. Yeah potentially. The only ones that have been around since 2017.

I

mean I think finance of course finance is there but then you look at the rest I'm like this is not this is disgusting to me like it just and

That's the thing that's the thing. We'll see when looking at this list right here this top 10 like When you look at this list of the top 10 coins at the at the top of the next bull market or you know after the next bull market bear market like I think it's gonna look a lot different you know and and the fact that you know at least in my opinion you know the fact that we look at this market and You know we see something like doge coin with almost eight billion dollars in market cap.

We've

got we've got a ways to go. The trend is your friend and the trend says we've got a ways to

go. I don't know

when that place out the trend is your friend. Like it's we've got we've got a ways to go and you know we might see some relief rallies but um you know I I don't see a future where I don't see a future where crypto is adopted at scale. We have real regulation. You know it's it's becoming more intertwined with you know um central banks and governments and we see it achieving what it can achieve and something like a dog coin or achieving new has you know tens of billions of dollars in value. It just.

Exactly and that money is going to kind of leave and go somewhere and with regulation coming in and that's one of the things we talk about in regards of regulation. They're going to try and come after all these bad actors they're going to come after all these non fundamental tokens that basically could be registered as security. They don't do anything. You're just you're just buying it for price action right? And the main thing I think it's going to be one of the catalysts of the crypto space like that we're waiting on right now too is tether. Right? What's gonna happen with tethers? Tethers gonna collapse is gonna you know stable coins are gonna be a big issue. Like is the government going to make their own is are they gonna pick a winner like U. S. D. C.

Or something? What are they going to do here? There's gonna be competition for stable coins and I can see something happening where tether or all these other ones get wiped out and there's a government one U. S. C. C. Is the one that they pick because Black Rock isn't is has them under their wing in a sense right?

Yeah. What's going on with stable points right now is crucial. Regulation is is definitely coming. There

Was the 1st Domino if

tether if tether does collapse. Um I'm not a buyer of that scenario but if tether does collapse I mean that would be in my opinion that would be the worst case scenario right now in crypto like that. That would absolutely cripple um That would absolutely cripple the market. Um

So let's

let's let's hope let's hope that doesn't happen. You know let's definitely hope that doesn't happen. But um you know it'll be interesting to see you know which stable coin you know hopefully there is a stable coin that is picked by the government Now I hope we don't see you know a Fed

coin. You

know I hope we hope we don't see a Fed coin because you know then um it just changes the dynamics

of everything.

Exactly and so um you know we'll see what happens there but the regulations definitely coming and the Loomis bill um is um you know I think good having having having read through it. But um you know there's definitely still some work to be done and you know any type of bill that's gonna make its way through Congress is gonna take awhile anyway. So um I expect to see you know I expect to see this bear market play out for, you know, a good while longer and and and this really being the opportunity for folks to get behind closed doors and talk about how we want to manage crypto and how we want to regulate this moving forward. I think it's I think it's also really great recently that there's been talk about, don't know if you've heard this, but um the Cftc,

you know, kind of

being being the regulatory body, um and not the sec. So I think that that would be, you know, that would be fantastic

checks and balance system, right? Because the sec is sort of just just enforcing, they're just going, no one's stopping them, right? I feel like there needs to be a check and balance system where the Cftc can come in and override. Hey, that's not, we don't agree with what you're saying here and kinda have that system in place if the sc is just not just out. Right,

Right? And maybe, and maybe it's, you know, something I know you

party, you know,

Yeah, something you probably love is that, you know, and maybe it's just the fact that ripple is kicking the S. E. C. Sas so much that they're like sec you're done. CFTc. Yeah. You know, you got you guys can handle this because the sec is clearly not up to it. Um

I do, you

know, I I do want to say, I think it's important for me to say this on on your podcast man like talk about ripple and X. R. P. Like you can have your opinions on and I certainly know your opinions on on on X. R. P. And ripple and you know I own I own X. R. P. And um you know I have at times said there's some things about X. R. P.

And ripple that I'm not a fan of. But there is one thing about ripple brad Garlinghouse, the team that I think people in crypto need to give them their flowers for and it's the fact that they are standing up for the crypto space to the sec like they have it back down an inch and like whether you like X. R. P. You don't like X. R. P. Or whatever the case may be. You have to respect the way they're just coming at the sec standing their ground and fighting and they're not and and they're exactly and they're fighting obviously for you know ripple and fighting for X. R. P. But this fight is about crypto too.

You know and so if they win whether or not you like X. R. P. Or not it's a win for crypto and on some level we should all be cheering for them there. Um You know and so I just you know kudos to that team and kudos to the X. R. P. R. Me you know I own some X. R. P. But I'm not gonna say I'm part of the X.

R. P. Army. Uh You know but I'm hopeful last half full kind of guy. I'm hopeful for the future with X. R. P. But um you know I know our government can

they it's going to put clamps on the sec from going after any cryptic that they want because this will be the new Howey test. And you see what happened with block fire. They went up to block fire. Block fire got scared. Okay here's how much money you want.

And

then what happened right after that Celsius stops uh interest rewards. Next stop interesting. Crypto dot com changes the whole reward system. No one likes crypto calm anymore. That's a domino effect ripple and they got sued and settled immediately and said okay well we messed up all right the sc has the power now to go after any crypto and use that lawsuit. Look you did the same thing they did. So there's technically no case for you but if ripple wins it's the opposite. Well we did what they did theorem did the same you know that's the whole conspiracy going on and it's like oh they can't they can't just target and go after any crypto that they want. You know and it's very it's gonna be a big impact on the overall cost of space and obviously people like I've always said I'm not the one that's gonna go hard all or whatever, right? Let's get the all time high first. Get the all time high,

do that first and

We'll see what happens. $5 then we'll see what happens. Right? 3, 3 50 $5. That's it. That's my $10 is my ceiling, right? I'm not going to sit here and make content about actually going to 500,000, 100 whatever. Right? You know, that's realistic, right? And

it's interesting what the possibilities are. I mean, you know, if they, if they can shake this lawsuit, if we can get some regulatory clarity on, you know, maybe a new Howie test and understand what is the security and and what's not. Um, and if and if they can and they and they are building and growing into their use cases. But um, you know, if they can get mass adoption globally of what they're trying to target. Um, it's yeah, it could get pretty, it can get pretty wild, pretty wild.

But yeah, man, this is great. I really, there's like two minutes left. So before that last goodbye person got cut off. We had to go back on.

But

thank you for coming on. I will link all this is crypto dot trainer on tiktok on twitter. I'm gonna link everything description any last words you want to say to any listeners. Yeah

man, I would just say, I would just say if you're new in the crypto space. It's really, really important for you to stay connected to the space. It's really important for you to surround yourself with people that are invested in learning about the space. And there's a lot of great creators out there, like cryptologic john who are consistently putting out content trying to help people um you know, and you surround yourself with those people, you're gonna learn a lot and I think you've got an opportunity to set yourself up for success in the future, but you gotta have a long term mindset, especially in this bear

market, that's it right there. Long term mindset and you'll win overall. Crypto is here to stay once again, I appreciate you for jumping on the podcast. Can't wait to have you back on one of these days again, it was great. I think it was very informative, very fun. I'll see you guys in the next episode. Peace.

00:00:00
00:00:00