‘Monumental Step’ for Blockchain - Bad News for Nov 11, 2022 - Transcripts

November 12, 2022

  • Favorite
  • Share

The new British Prime Minister is pushing for Central Bank Digital Currencies, but down in Africa Nigerians are rejecting their governments’ push for the same. The SEC says Trade Coin Club members are part of a ponzi scheme. And there is big news around the Solana blockchain as a new Google partnership could bring the chain to the masses. Poor Zuck’s Meta may be getting trashed, but Instagram could bring NFTs mainstream. 

We salute all our United States Veterans who have fought for our freedoms and dedicate the moment of silence coming up to those who have lost their lives in defense of those freedoms on our Bad News episode #648 of The Bad Crypto Podcast. 

Full Show Notes at: http://badco.in/648


  • 00:00 - Intro
  • 02:26 - Prime Minister Rishi Sunak pushes heavily for CBDCs; Joel and Travis outline the risks of CBDCs. 
  • 08:00 - Nigerians own and trade cryptocurrency
  • 12:37 - SEC charging Trade Coin Club founding members with operating a $295mln ponzi scheme
  • 14:56 - Google is launching a blockchain node engine with Ethereum as the first supported blockchain
  • 18:44 - Instagram, i.e. Meta, to allow users to mint NFTs on its platform
  • 23:53 - Closing Remarks


Apple Podcast: http://badco.in/itunes
Google Podcasts: http://badco.in/google
Spotify: http://badco.in/spotify


Twitter: @badcryptopod - @joelcomm - @teedubya
Facebook: /BadCrypto - /JoelComm - /teedubyaw
Facebook Mastermind Group: /BadCrypto
LinkedIn: /in/joelcomm - /in/teedubya
Instagram: @BadCryptoPodcast
Email: badcryptopodcast[at]gmail[dot]com

BE A FEATURED GUEST: http://badco.in/apply

Do your own due diligence and research. Joel Comm and Travis Wright are NOT FINANCIAL ADVISORS. We are sharing our journey with you as we learn more about this crazy little thing called cryptocurrency. We make NO RECOMMENDATIONS. Don't take anything we say as gospel. Do not come to our homes with pitchforks because you lost money by listening to us.

We only share with you what we are learning and what we are investing it. We will never "pump or dump" any cryptocurrencies. Take what we say with a grain of salt. You must research this stuff on your own! Just know that we will always strive for RADICAL TRANSPARENCY with any show associations.

Support the show: https://badcryptopodcast.com

See omnystudio.com/listener for privacy information.


the new British prime minister is pushing for a central bank digital currencies but down in Africa Nigerians are rejecting their government's push for the same the SEC says trade coin club members are part of a Ponzi scheme and there's big news around the salon of blockchain as a new Google partnership could bring the chain to the masses pours locks meta maybe getting trashed but Instagram could bring an F. T.'s mainstream we salute all over United States veterans who have fought for our freedoms and dedicate the moment of silence coming up to those who have lost their lives in defense of those freedoms under bad news episode number six hundred and forty eight of the bad crypto podcast



this episode is airing on

veterans day initially which is why the moment of recognition and silence for those who have served we do

take our hats

off to you thank you

both men and women who served

for a year considerable contribution we appreciate the liberty that we have at least for the moment in this country and may your sacrifices not be in vain

room also shout out to everyone who looks at the clock and randomly it's eleven eleven that happens to me quite regularly I was like oh eleven eleven make a

wish we didn't have to learn

I don't know I think it's a mystical ship from back in the day like it

it for twenty are you supposed to puff puff is that like

for you know it's always for twenty somewhere as long as it's twenty past the hour I guess not I don't know think about eleven eleven it's probably hasn't been the thing that's been the thing since people had clocks

what if it's seven eleven get a Slurpee

we'll get a slot

it is seven eleven it's time to run to the store to get yourself a big one

big cold make a wish you were living in one big group so you could go get another

I wish we could get on to the content of this episode record the podcast Joel comm and Travis Wright here and we've got news that you can use we did mention that the U. K. prime minister rishi Sunak is pushing heavily for CB DC's I watched the video I don't think it's in this article here but there is a video of him and it just it makes me want to ratchet because they are selling CBD sees as though they are going to be such a blessing for the the people in there that's gonna just lead to all kinds of ways that we can use our funds and and make everything more secure and the bottom line is


a trap folks it's all the traps central bank digital currencies will be used in the hands of nefarious people which many of our leaders already are to track everything you do and if you want a question of this reality is something that could be a reality here look up the Chinese social credit score system they implemented this a few years ago where they are tracking everything people buy and sell their tracking what they post on social media who they are in in contact with them if they decide that you said something they don't like or you are you know somehow in in relationship with people that might be undesirables they lower your social credit score just like that black mirror episode nosedive you haven't seen it go watch it

well it to me as it is interesting I mean because look what happened to Kanye west they didn't like what taught what happened to him and they kicked him off of JP Morgan JP Morgan hello mom said Hey we're not going to have you be part of our thing anymore so take your use the empire and skin dial in so you know think of that that's a that's basically I look at it like this I I say that to people and you go wow look at that happened and then I also say you wanna know how close we are the sort of global authoritarianism sort of one world government type stuff look at how quick the whole world shut down for cove it like it was just it was just a maybe a slightly harsher flu and what they did was immediately people were sick let's put them in nursing homes I don't remember that but everyone in the nursing homes got rid got got a bus these old people sick everybody up in arms now you can't go to funerals you can't go to the synagogue you can't go to church you can't go to certain restaurants unless your Walmart and target you can stay open everything else that's just about the whole world was like okay except Africa who didn't do it and they basically had no because of it


so it's like it's just crazy to me if you don't see where we are and like we had Liz Strauss right was that a name Liz trustless trust yet which I trust her completely because anybody who's in charge of government anywhere you got to trust them but I think this is they were not they were not so so quickly she was released from she resigned but something happened maybe she didn't want the C. B. D. C. I don't want this to be the see that happen globally because once that happens they don't like your opinion they're gonna shut you off and that's not a good thing

so I don't know if you saw this just tossing this in here at the Atlantic which is an incredibly far left magazine wrote this article by Emily Oster let's declare a pandemic amnesty let's focus on the future and fix the problems we still need to solve

you mean forgive you for locking away our senior citizens and leaving them isolated to die alone is that what you mean ord or do you mean forcing experimental vaccinations


RNA altering drugs on people here over there or you're talking about are you talking about making us wear those stupid face diapers that do absolutely nothing which by the way I don't know if you see her given for gatt yeah

cars here you should you know I was so interesting yeah I've I learned this is like it's that whenever I wanted to go to a restaurant I had to show my vaccine carbon if like somebody dies and I say well were they vaccinated that is so rude of you to ask how dare you ask if they were back well I well I mean I'm looking at the statistics here and I seen the funeral home statistics where they said oh my god there's more funerals than ever like they would say normally end up in a place a hundred and fifty funerals a year at a funeral homes are pretty good yeah that's a great year now they're talking three hundred and fifty four hundred funerals like and they've they have to do book you know youth caskets as for the other basically in their whole existence they never had to do a book you've caskets and they've had to do that twice in the last seven months there's some going on nobody's talking about it but I know

some people are talking about it just not you know the people who should be talking about those in the trusted the media

there were some people here like we've been around a little bit this week I can I'll give you that we've been ran because there's a lot this is

where our microphones we can

we can reform

which we can say whatever we want to say about whatever we want to say and if people want to listen and that there's a lot of people out there that are not in their heads we know we we hear from these people and they're like yeah you guys just just speak the truth and this


all tied into a blockchain crypto gang we're talking about central bank digital currencies where they can track everything that that you're you know up to and

don't take this as a great segue right here because conversely we're talking about you know the new prime minister of the UK is like yeah we want to be the season one CBC's but right here the Nigerians are rejecting the country C. B. D. C. in favor of decentralized crypto currencies that's exactly what we need because when they're decentralized nobody controls them when they're a centralized banking digital currency the centralized bank controls them which can then lead us down a very authoritarian path you don't have this you don't have that you don't have enough in your wallet you can't access this you don't have this and they have to you so you can't do this you can't go here you can't get on the bus you can't get all plain white you mentioned that that that what we're living in black mirror in a lot of ways it's really bizarre

the population in Nigeria is considered to be the most crypto savvy on the African continent with the nation ranking as the top country in Africa for crypto adoption and eleventh globally more than the third of Nigerians between the ages of eighteen and sixty reported owning or trading cryptos twenty twenty two they also have the greatest export of princes seeking places to wa to have their funds transferred you might have got an email from

I got an email I was so excited it's prince chose me I thought I was France was like oh my god Travis I've been wanting to transfer your money I'll let you know I saw I saw the future population in the world in going fifty years in the future Africa is going to explode in population I'm going to explode and and that's great I think we need so like we're going to start seeing some really interesting leaders popping up in some of these countries are there's two hundred and twenty million people in Nigeria there's three hundred and thirty million in America like that will pass three eighty three eighty

three eighty just overnight we just we did that so

while neighbors here are you

gets it JP Morgan is coming around you know of course remember Jamie demon many times had said you know to avoid bit coin that's a scam of course JP Morgan is moving heavy into blockchain now and they are calling a JP Morgan trade on public blockchains a monumental step forward defy they're using poly gone to trade tokenized cash deposits and they are just another in the line of financial institutions are going all right if you can't beat them join them how do we get our big piece of the pie

but how bosses after polygons yeah right we start paying attention all the projects that are popping up all all polygons right now and with it only being a dollar twenty now that's what it was when we last saw I don't know what it is exactly today because I'm not that far of a futurist but I mean it was seventy some sense fifty some sense not long ago and here it is you start seeing him you know what Disney is going to start doing stuff on polygons JP Morgan started to stop on by others a lot of projects doing stuff on polygons and that should tell you something about polygons is you know projects because our new stuff on and pay attention

we we've been big fans of the wax blockchain the only good thing that I can see that's come out of the US but because it is not an EVM at least not yet the that was a big mistake that William quickly made risk taking wax off of Ethereum to create their or they should have immediately have the bridge right have your own chain that's faster that doesn't have the gas fees because even which have been like a polygons it should have been going on yeah it should have been like poly gone it wasn't and so now waxes is getting a little left behind however I think that they're working on the EVM and so that will you know because right now you want to be able to put the chain in your metamask right so it's easy to do if you're a poly gun drawn binance marching if you're on an avalanche Arbitron DOJ change right you just edit your metamask uses the same address you're just adding this new RPC protocol and now you can trade your tokens they're using the same format we're as with wax you gotta go said west wall it with internet computer you need an ICP wallet up could be a better chain it could be faster more transactions per second but you still need another wallet and so now that poly gun I think Paula who's got a pretty bright future not financial advice

group your own they're they're not poly gone their policy here to stay yeah

so also here to stay the SEC's seems like every episode now we have a story about them going after somebody they are charging the trade coin club founding members with operating a two hundred ninety five million dollar Ponzi scheme it's an MLM network marketing just another reason that I do not like network marketing there's a number of reasons I don't like it but they've raised

I wanted to do I like I like the idea of it right but the problem is is that it's centralized power those above the top normally are the ones that win the idea of basing on my effort in getting of getting a group of people together and help in every way I like the idea of network marketing or multi level marketing but in practice I've just never seen it really work aside from maybe am way which kind of stuck with another one of the original one

there's a lot of ones that it's worked there's a ton of young his work for you know news

belies his other ones

but it usually works for a very small number of people now the idea of Hey you know this creates opportunity for everybody but here's the this leads to the thing that I disliked the most most often you're encouraged to go to your warm market multi level marketing is just another name for how to lose family and friends right because who do you go to people you know it's the best thing you need to but by some of this wrong gonna get rich together

yeah buy these pills potions and lotions and put him in your garage

potions and lotions they don't they don't help you familiarize you have to run around and drinking and stuff

I don't know you know that's the boxes I mean you put him on your roster

and then you get a divorce the the reason that the SEC's going after them after they raised eighty thousand bitcoin from over a hundred thousand investors they are saying that they allegedly deceived investors by telling him they can generate daily returns of point three five percent on the crypt with robot

but instead

these funds were used to compensate himself Jeff paradise man name a last name Taylor kilo echo louder than any kind of Taylor and Jonathan true troll for their involvement so these guys are all in trouble we're all alone London

a lot of trouble going I would say this good luck to all y'all I would say this here's some interesting news that Google is launching a blockchain node engine and they're saying that Ethereum is gonna be the very first blockchain that is supported and they're partnering Google cloud is partnering with Coinbase and that creating that the Google cloud blockchain node engine more blockchains will be supported by the feelings going first how bosses that I mean Google's in the game now grow

incredibly bold bullish and they're not stopping there there have unveiled a partnership with Solana so at break point which is a four day conference that is simultaneously held in four different venues from November fourth to seventh I guess that's the Selanne conference they made a series of announcements and one of them it includes the launching of smartphones and decentralized app stores partnering with Google cloud and of course Google wants a piece of all of this

room well think about that let's have a decentralized phone and here's Google to help us to centralize it


like to me that's like mum you know Solana could really you know drive growth with having a smart phone getting people off the android that's not gonna happen though Google's in it right so what happens now what I mean well it's not

going to go anyone anywhere can build their own Solano store and they've got G. O. N. F. keys that are going to be part of this this marks a lot of smart phones available for pre order in early twenty twenty three so whatever you think about Solana and how much it goes down and how vulnerable it's been clearly they are kind of like a McDonald's we're stuck with them it's it's it's crappy food but they're everywhere and it's smart marketing you know so there's a lot of inferior products out there getting that win the day the either their mediocrity because their marketing and their their ability to joint venture with with other brands is solid in hand so congratulations to Solano I still wouldn't build anything on it that's my two cents

I still wouldn't build anything on it either but I mean they're going to be around you you really cover that around now also around helium helium is now building out its mobile network and they plan to give free trials this a lot of phone users so there's a lot of years Healy I'm connecting with Solana and the saga phones are going to get a three thirty day free subscription the helium which is basically that sort of like matching that type thing

yet decentralized wifi which at which I am a fan of I think that that's a pretty good deal and it's smart of them to partner with salon a hate for releasing blockchain phones and let's work with whoever we can to distribute our our network so they're going to give away a thirty day free subscriptions to helium mobile and so I'm not exactly sure what people are going to get for that but they want to participate in five G. network and make your own five G. hot spots and then I guess you'll earn helium tokens H. N. T. tokens for running hot spots on your phone she'll be a portable hot spot you won't need to buy one of the high priced ones that you plants in your home wherever you go you know you are well and you are a walking hot spot

we are so think of that data though that might be coming through the hot spot and what kind of implications there might be if you are a hotspot wifi that's open and decentralized and other people are utilizing that does that come back on you I don't know but we'll keep an eye on that also we're keeping an eye on Instagram Jole meta is now talking about in F. T. E.'s right

yeah this is so this is a big deal that I think that they've released some examples already but you're gonna be able to mentor and F. tease on Instagram you'll be able to create them and sell them in the app it's going to happen very soon they won't charge any service fees until twenty twenty four and

for Gatsby's

covers gas for both creators and collectors of course if somebody buys with in the app you're still subject to the thirty percent iOS app store free and whatever injuries feeds are but the this is happening there's there's there's no way to avoid it and I think it's pretty funny that it's happening as quickly as it is because it was just a year ago during the N. F. T. ball run that so many people are saying and if he is fad and they're stupid and there's never gonna be any practical use for them and you guys are being scam

and we said then

no you're wrong what we call you is a mass adopter pioneers pie in your intestines technologies early adopters are the first ones to go


this is the thing in meanwhile they're taking the eros from all the rest that are to follow and if you were one of those saying it's a scam and tweeting voraciously about how you would never ever own an N. F. T. guess what

you will

you will and we told you then we're telling you now they're here to stay it's coming Instagram you're not gonna be able to stop it it's going to be huge and just like we have seen people become stars as creators on on Snapchat in you to further singing they're dancing they're magic their jokes whatever we're going to see a new wave of artists become stars via their N. F. T. creations

and I just have a keynote here at N. F. T. NYC and London so I guess technically and I have to wonder around the future of entities it's not just crazy hilarious cartoon JPEG that are in it to you so you got to get that out of your mind there are there's about thirty different use cases now that we can determine in their teens will be utilizing on again you can check that out a link three weeks T. R. dot E. E. link trees slash future of and I have to use you can snag that I go in depth on that I've actually added a couple of of lease to that as well Joel

I've got a up point this out as well just because it popped up yesterday square Enix is a renowned game developer and creator of final fantasy fourteen which is one of the world's most popular MMO RPG games and they have announced an N. F. T. project and they are getting absolutely clobbered on Twitter a clobbered like there's hardly any like we don't understand NAFTA's order would you

can just go to do it

if you want to see like what it is here I can actually go to the tweet that's

happened with the realest dude gorilla said Hey we're gonna do some MPs and they just came out in the second half well okay we're not going to do an antes well this maybe don't don't wanna theory and where the gas these were so high however that proof of stake it's

they're not inside symbio genesis is the name of the project and they posted this video out there and if you'll scroll down the tweets of what people have said in English I think I speak for everyone when I say we won't be buying let's see

I said

congratulations to square Enix for having the colonies to lead into the future in spite of the smear job that's been done on entities gamers are pushing back for all the wrong reasons eventually they'll get it this is why all pioneers and early adopters come before mass adoption by the way only one like no comments sixteen hours after tweeting I am so shadow banned I am I am so shadow band still never know if it's ever gonna get lifted here's some other people on Twitter or getting more

you know what your opinions all you're very opinionated with your words and your thoughts on the things that you sound thank U. S. T. F. U.

well this hurts no thanks the socks no and block no no no no where's the dislike button so people the fans these are mass adopters you're looking at here they have been told that N. F. T. is R. one thing when they don't see the vision for what they could and I think square Enix jumping in here in in doing it is a great move for them and I applaud them and I I hope that they don't back off I hope that they go through with it because I guarantee that they're going to sell these things like crazy because FOMO happens right the sale happens if people are not buying what does I'm not buying one of those and then they see the start

I'm buying for those my gosh our goal I got a **** what do you say


X. okay something like that yeah yes where payments I got some weird thing good luck with that I don't know how you I didn't

square P. nasty thanks for tolerating us everybody please go take just if we've made you laugh okay this is the this is the the guidelines for today if we made you laugh and you haven't written a review for us yet please go over to iTunes or wherever you listen to the show give us five stars and let us know and we made you laugh maybe learn something too doesn't cost you anything to be nice to others and that would be really nice to us because we do the show for you for free out of the goodness of our hearts

I ducation all and the whole area is what we like to think and a lot of this is off the top of the dome it's not now that's premeditated it's all decentralized humor that decentralizing our brains do you

I mean look we already spend a lot of time recording it's not like we take a ton of time you know preparing we're thankful to producer Lisa for calling stories for us and then we come together before the show and maybe what we'll do here in upcoming episodes is we'll go live during the recording of a show and introduce Italy's side you could see how we actually you know go through stories and decide which ones we're going to talk about it on an episode and then will actually do the show life which will then put out an episode with would that be fun to do traffic

that sounds great and I do think our production value is getting better I like how we're showcasing the news articles in between us while we're talking and doing the thing so it's looking good we're working in finding new ways to be relevant for you guys we're not huge fans of social media so we're not always out there but we're trying to do what we can and we love you guys so we're we keep doing this because you guys keep tune in Anaheim and so thank you to you guys for

Hey we said there would be an N. F. T. for this week so Travers again if you have not yet signed up for the bad crypto nifty club this episode is going out on the eleventh of November which is Friday November eleventh so you have until midnight on Tuesday the fifteenth of November to have a bad crypto nifty club N. F. T. in your wallet to get an airdrop of monumental step for big coin Travis is going to design something cool because he has them mad design skills and we're gonna air drop this to you so go to bad crypto dot uncut dot FM in pick up the bad crypto nifty club membership N. F. T. it's a one time fee of about three dollars depending upon the price of Ethereum its point to eat charging for it just so bots don't going claim a bunch of them we only want fans of the show to get these we've already dropped two exclusive entities and we're gonna drop this new one and you don't want to miss it so go pick that up

don't miss it don't miss it this is gonna be fun so the monomer monumental step for bitcoin and blockchains

you do some cool stuff with it you know

you'll get some cooler I stuff whether you're playing around trying to figure what to me

maybe we should route source and an F. T. for a future episode as well what we can do that when we do a live episode so I'll tell you what before we do the live episode we will let you guys know on the episode before so that you can come and join us and make sure you are fully equipped the bad crypto podcast is a production of bad crypto LLC the content of the show the videos and the website is provided for educational informational and entertainment purposes only it's not intended to be and does not constitute financial investment or trading advice of any kind you shouldn't make any decisions as to finances investing trading or anything else based on this information without undertaking independent due diligence and consultation with a professional financial adviser please understand that the trading of bit coins and alternative crypto currencies have potential risks involved anyone wishing to invest in any of the currency's or token's mentioned on this podcast should first seek their own independent professional financial adviser so what do you think this monumental and if he is gonna look like what's going through that right

logs that type ten monumental step for blockchain so far and I've come up with some and now I'm using a tool that Fonzo has been using called conscription

look at it

and well I guess I could screen sure hello Sir

by the way this is the behind the scenes Easter eggs that you guys get when you stick around long enough after that disclaimers now of course if you want to see this


actually happening you need to go to our channel on YouTube Odyssey or rumble to see the video version of this and now we're gonna bring up Travis is screen here that's an ice cream truck there it is

yes I'm looking at this right here playing around with this one you're now I've learned how I can take this one and make some additional modifications to it there were some other one which was interesting none of them seem to look as cool as that

is nice

I can't account like that so we'll see what pops up

I don't play around them in my other in the other two so you guys are gonna end up getting a little NFT