🚨CRITICAL ALT COIN MOVEMENT!! + Make $$$ In META - Transcripts
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Welcome to Bit Boy Krypto the people's channel home of the Bit squad, the largest and greatest crypto community in all of the interwebs on this channel guys. It's our goal to help you find financial freedom through crypto assets. My name is Frankie candles and this is around the block chain where we discuss the hottest crypto topics with your favorite crypto influencers. Speaking of them, let's go ahead and introduce them in the top left. We have the one, the only rice T. V X and right under rice T. V. X. We do have the one and only Crypto Wendy o also known as daniel pena. I is Putin Satoshi in the top right we have all coin daily. We love having all coin daily on the show and right under that we have the great tom crown. Thank you guys for joining us.
Don't forget all the links to all the guests socials will be In the description below definitely go check them out and don't forget to smash that like Button. So to get started here guys, let's go ahead and jump into a market watch as that black and white plane flies around the globe, airplane airplane. All right here we go. Starting off with Bitcoin coming in at $19,946. Breaking that 20 K level a theory. Um Coming in at $1054. You know ethereum down about 6%. Bitcoin down about 4.5%. Let's go ahead and check our top, Let's check our top losers today. Let's check our top top movers polygon up about 8% unit swap up about 6% Adam up 5% sandbox up almost 5% will give it to them and uh we have leo up about 4%. So guys we got a really great show tonight some of our topics us dc versus U. S.
D. T. U. S. D. C. Coming up and creeping on us. DTs volume will be talking a little bit more in detail about that coming up soon and then Eunice swap, getting into the N. F. T. Space as well as meta adding some new monetization tools to their platform to help out creators. And so we got some really really good topics.
So starting off on our first topic we do have us dc creeping up like I said on U. S. D. T. S. Real volume now according to mazar E. U. S. D. C. S. Real volume past U.
S. D. T. S. Real volume. If you're wondering what real volume is Massari basically calculates this by only taking the information from exchanges that they find to have significant and legitimate trading volume. Um So that's why it differs a little bit from the typical volume that you'll find on something like coin market cap or coin gecko. But with that being said we do have us D. C. Starting to pass us D. T. And just to start it off, I'm gonna pass it over to you Wendy o or daniel penha.
Uh So it looks like the volume on stables is starting to move. So let's just kick it off. What are the markets looking like? What are the charts saying? Let us know. Come on mr Frankie. We all know that you are the chart you and tom I do, I do ok myself. But one thing I will say um with all the recent events that are happening, we know that people that are backing circle have deep pockets. We know those same people are associated and very very close with us regulators. We also know that tether has been under fire for quite some time and they were audited by N. Y A G. I believe the term audit is correct and we've seen them become more transparent in the long run but at the same time we have this massive giant with us D.
C. Who has got very very big backers. I personally believe that U. S. D. C. Will be the C. B. D. C. Of the United States and potentially europe and we're also seeing a lot of people taking profits or even possibly selling at a loss into um stables and I believe that the stable of choice is going to be us dc. Considering that F.
T. X. U. S. Also utilizes U. S. D. C. As always do your own research on that. Did you baby Yoda have a baby Yoda? You have a baby, there's also two other babies and a couple kitchen objects from my baby Yoda and super baby Yoda. Thank you for that answer.
Wendy appreciate it. That was very very insightful. All coin. I want to throw it to you real quick now with the U. S. D. C. Supply gaining on us. D. T. Do you see us dc passing us? D.
T. Not getting tongue twisted here. Do you see us dc passing us? D. T. In market dominance? And if so what is your timeframe on that U. S. D. C. Passing us? D.
T. In market dominance? I think that will happen. As far as time frame goes uh the more time passes the more likely I think it will happen. And definitely in the next few years I would think just because institutions and traditional finance people are getting more and more interested in getting into Cryptocurrency except there's one thing that's stopping them. It's unclear regulations. It's that they want to be compliant and they it's riskier for them to be compliant with tether it is more likely they'll go to something like what circle is doing with us? D. C. It is the regulated compliance stable coin. And I think as you know crypto is a lot different from its from Bitcoin's 1st 10 years. We are getting more mainstream.
We're getting more regulated. And I think as more time goes on U. S. D. C. Or something just as regulated is going to be where a lot of large money decides to to move into stable coins because they want to move in and U. S. D. C. Is one of the best options right now. Absolutely love it now. Tom I'm gonna throw it to you now with the real volume tool used by uh sorry obviously like I said earlier it's a little bit of a different number.
I I do believe that they use this uh you know different a little bit of a different metric to avoid wash trading kind of messing up these metrics. Now do you think this is uh do you think this is accurate? An accurate way to measure or do you think it's less accurate? Certainly I was looking at this myself and at first I was a little confused. I thought maybe they were talking about on chain kind of volume sending but I guess they are referring to exchanges uh doesn't really seem to add up you know I know U. S. D. T. Clearly is going to have more wash trading or more fake volume if you go and look up exchanges you'll find exchanges that have unreal amounts of volume that no one's ever heard of and they're just reporting it wrong. So there's there's a method to his madness here of selecting where you're looking at that data and that should reflect the rest of the market. But if you look at the last 24 hours U. S.
D. T. 41 billion traded volume. Even if that's inflated that's 10 times out of U. S. D. C. Right now. I am in the camp of U. S. D. C.
I preferred over Usd T. At any option or any opportunity. I do think it will overtake tether but it's gonna take some time even if that's doubly represented that still puts it at five times more traded volume daily. That's a big gap to catch up. I I agree. And you know I did just swap over a lot of my U. S. D. T. For us dc. After you know U. S.
D. T. After the whole luna thing happened in U. S. T. U. S. D. T. Slipped its peg. Um I did trade a lot of my usd T. For us D.
C. But with that being said rice I'm going to be throwing it to you now with a lot of these stable coins having the troubles that they have been happening you know such as luna and stuff like that. Uh You know why do you see why do you think block chains are still trying to create their own stable coins? Do you think they're better off trying to create their own or do you think they should just stick to the ones that already exist? And that kind of had have had at least some sort of test of time? Well first of all thanks again for having me back on around the block Shane. I do encourage everybody check out my channel Rice T. V. X. As well as all the other guest channels. But I think competition's a really good thing and even though terra luna the U. S.
T. Thing kind of failed as far as their algorithmic stable coin I think that there is possibilities with improving those kind of models and making them actually work and we definitely need to have choices. Um Now I agree with everything that everybody has said so far about us D. C. To give a little history U. S. D. C. Started with circle invest which is backed by Goldman Sachs and then partnered up a coin base. So between the two um between circle invest and coin base they were able to push us D. C. Through the U.
S. D. C. Is 100% fully audited. So it's one for one backing it's very transparent so it's more safer when it comes to a stable coin. Usd T. Used to be our only real option back you know several years ago and now we have all these different choices with Di included. Now U. S. D. T. Is gonna take a while to really take out this entirety of what the cartel is doing per se because they're on multiple chains as well.
So we're not taking into account the volume that's going on. The additional chains that U. S. D. T. Tether is on. So U. S. D. C. I think would need to be more competitive and be on other chains because we have seen the gas fees on ethereum get outrageous and if you're able to utilize a different chain for cheaper fees it's something that gives people that choice. So I think that's gonna come into play as well now.
Um people can also go back and just do a little research on steve Mnuchin with his connections with Goldman Sachs and him hiring joseph adding as the controller of our Treasury when he got brought in as the head of Treasury. And then brian brooks who was the chief chief legal officer over a coin base who ultimately took the position of comptroller of Treasury. So you can also see the a lot of the interviews that brian brooks was doing talking about the private sector pushing the stable coins instead of the government doing so. Now I don't necessarily seeing this the U. S. D. C. As being a stable coin unless they're gonna offer alternate block chains because I don't see this information being completely open and transparent to the general public gotcha. Uh Yeah I I I agree with that. Um Now you know moving on I do want to keep it moving. We ran a little late yesterday. I do want to keep it moving on to our next topic.
Thank you for that answer. Rice, try to keep it shorter. Next time I apologize. No no no that's okay. That's not on you. I'm just trying to watch myself because I think I dragged on last night's episode a little bit but heading over to our next topic. Unit swap buys N. F. T. Marketplace genie. Now you know you know you said this is this is a move part of its mission to unlock universal ownership and exchange on its platform. Now Wendy I'm gonna start with you in May of 2021 Uni had a high of about $45 and is currently sitting at about $5.15.
Do you think that we can hit these highs again? Interesting question. It really depends what type of building a lot of projects do in this bear market. If I was a project I would be focusing on hitting all of my goals, I would also pay a lot of attention to what mainstream in what people that are not necessarily in crypto what they're interested in. Especially with N. F. T. S. Because the N. F. T. Industry actually has, this is like our first real bear market when it comes to N.
F. T. S. And there's gonna be a lot of building and a lot of really great stuff that happened when the industry. Once the industry matures what's the industry matures a little bit. But anyways I don't prices not equate to utility number one. Number two. And also we have to understand that you know swap price hit that all time high because they did a lot of great marketing, they did an airdrop. They were the decentralized exchange of like summer defy summer of 2020. I don't necessarily think unit swap is super decentralized. I feel like they have to comply with local laws and regulations regarding the S. Word which I won't say on the channel but it's going to be interesting to see who sustains and I think it is a smart business move to see Eunice what kind of merge over two entities.
I love that. And price does not always equate to utility. I do like that. Um Now all coin, I'm gonna throw it to you now. Do you think this is a good play for uni or do you kind of think they're just capitalizing on this N. F. T. Craze. Oh I think this is a great play for Eunice watch. I mean you know swap has for a decentralized exchange it's the top as far as volume and people trading on it and they're not trading N. F. T.
S. No N. F. T. S. Have really blown up in 2021 but people weren't doing a lot of trading on unit swap. This is a perfect integration and it just excites me for the future of this space because we're seeing so many companies like this just build out and get better magic Eden Solanas Native N. F. T. Marketplace has just announced they're going multi chain, not even just Salonica's, they understand that they need to meet user demand. So something like this really excites me for the future of the space. And actually I was reading in the article about the uh you know swap buying Jeannie if you've ever used genie more than once, you're actually going to get a free air drop from unit swap of U.
S. D. C. Coin. Just stable coins if you've ever used it twice. So pretty exciting time to be in the space. There you go. And speaking of Airdrop uh tom I'm gonna throw it to you now as a part of this collaboration Uni has stated that they will airdrop genie historical users now, do you see this drop being as successful as their last one in september of 2020 is the question, I have no idea. The original uni drop blew my mind. You know, we have seen time and time again where airdrops happen and these things get nuked and they're not good to hold onto but uni blew me away. It just kept climbing. I'm sure it's back to kind of where it was before.
Uh in general. I'm skeptical of Airdrops what you get for free you typically don't value. and that's gonna be true of everyone else getting it. That's a lot of selling pressure. It's interesting to hear that's going to be a stable coin. That's interesting. That's it. I didn't know that. That's interesting. Also side note here everyone's wearing sunglasses. Oh no, I feel, I feel left out. I feel left out.
I think mine aren't sunglasses though minor so that the computer rays don't. I thought they were your like your firearm glasses and like you just got back from the range. No, I don't own those. I just bryce looks like he's legally blind. Rice is like a supervillain or something over there. I'm not, I'm digging it though, man. Well there we go. Compete with you tom grown. Yeah. Tom's always got the sunglasses and now I match the crew. Let's go now rice, I'm gonna throw it right to you now in september of last year. It was reported that Eunice swap was under investigation by the sec do you see regulation, you know, starting to become a concern for these taxes in the future.
Absolutely. Because I mean it's going to be competing against centralized systems, centralized exchanges and then, you know, see fi in general and then also with legacy finance. So some someone like, you know, swap, they've trademarked some of their technology. So there's ways and they also have a domain. So there's ways for government entities to be able to contact and I'm sure that they are complying in certain measures now there are ways around that, but it really depends on somebody's mentality and purpose for starting these projects. If they're really truly wanting to keep that cipher punk mentality, then they'll do something like what Erik Vorhees did and turned the situation into a doubt. So it can't be pinpointed into an individual business entity. Now, you know, spot going into what they're doing with the N. F. T. Marketplace. Um, Jeannie was an N.
F. T. Marketplace aggregate aggregator. So it's cool that they're gonna be allowing for the support and buying of N. F. T. S. Which we need more competition and that element because obviously, open C. And other entities have more of market share and more competition is going to make these platforms, I think a little bit more transparent and operate better, the more competition you have, the better it is for the user, ultimately. And when it comes to Cryptocurrency, we definitely need to see things be as user friendly as possible. And also see entities start to envelope and take over startups by startups and kind of try to be a one stop shop for Cryptocurrency. Um, so that way you don't have to really go away from almost like being at a Vegas casino when you're there, they want you to stay at that hotel, they don't want you to leave that building.
So the idea is that, you know, swap when you're there, they want you to stay there. They don't want you to go to open C. Your wearable for your N. F. T. S. They want you to use their services. So I see this happening a lot more where companies to be partnering up being acquired and just you're gonna especially now during the bear market where you're hearing a lot of issues with people regarding the liquidity, their finances and the stability of their futures. So I see a lot of collaboration is taking place. Yeah I I love that answer. And the bear market perfect time to build and kind of figure things out and again you know you're talking about you know how competition could be a good thing, I couldn't agree with that more. Now moving on to our next topic, our last topic, meta unveiling metaverse monetization tools.
Uh Now this is pretty exciting. I know they are you know looking to add a bunch of different tools and in june of 2021 they were saying that the company would be taking less than 30% ah that Apple and others have been taking. Um I know there is you know the facebook stars section will be open up to all eligible creators enabling more people to earn from their reels their lives their you know their video on demand kind of stuff. Now with that being said, I'm going to throw it to Wendy back to you. Uh Well nobody wants to see a dominant meta, I would assume the fact is they are huge right? They are an absolute powerhouse of company organization, whatever you want to consider them. Now, do you see meta being around for the long haul or do you kind of think they're you know the people that have been here are going to step on them or just because they are so guard you know gigantic, they're going to be able to come in and just dominate the space meta facebook. Mr Mark, they're not going anywhere, they're really not going anywhere. They have their hands in so many different aspects of global governments. They're not going anywhere. All they're trying to do is they're trying to adopt web three tech. They're trying to adopt the crypto culture in a sense and this is the way they're doing it but they also have to comply with local laws and regulations because you know there's such a massive company.
They're crucial to surveillance and other aspects. We all know that we click on those T. O. S. And in those T. O. S. Database that they have control of our personal information unfortunately. Um But meta is not gonna go anywhere. People that are in the note, they're not gonna use metaphor N. F. T.
S. Or for whatever it is that they're selling because we know that they don't have our best interests at hand. And there's also other decentralized products that may be better for us to use. plus I believe the fees that they wanted to charge on a lot of their services they offered were absolutely ridiculous. Um but one thing I will leave you all with before heading over to the next response is make sure you guys read the terms of services before use any platform regardless of its decentralized or not understand exactly what you're sacrificing in order to use that service and make sure the opportunity cost is there, make sure that it makes sense and make sure you understand what these terms of service is mean because if you do not understand what the terms of service is mean and you consent to it, you're putting yourself at risk dropping the knowledge Wendy. I absolutely love that especially as youtubers like us definitely important to know, you know what you're giving up in those, in that fine print. It's important to read and with that being said all I want to throw it to you. You know, speaking of reading the fine print, do you see creators rights becoming an issue for people who decide to build on a platform like facebook First of all that's good advice but I find it hard to believe Wendy is reading all 300 pages terms for everything she's a part of because it's literally everything Wendy thoughts. I've got a like extensive legal team and sometimes I make them do that for me anyways. You know the good thing about this, the good thing about what facebook is doing is that people are realizing they're waking up to the problem of Web two, that all of us are creating the content for these platforms, whether you're just a ship poster or running a professional operation, we're creating all this content and engagement for these platforms compared to what they're making. We're literally making peanuts. So people are waking up to the Prophet, our potential solution is N F.
T. S and Web three. Not everybody is there yet? That, that's a solution and there is a spectrum of, you know, is this actually going to work well or is there, is there maybe we're not there yet. Even in crypto there's a debate. But the good thing is the people are waking up to the problem now, facebook is trying to solve this problem. Get a little bit better by basically. I mean do it with something like Youtube or I mean YouTube is the best one. I mean, here's the thing YouTube, we're on Youtube. Youtube socks for, You know, content creators making money, but it's literally the best one out of all the options. So you know, people are waking up to the problem, Web three can be a solution. I think that's possible.
Youtube does pay a lot more than Tiktok though and instagram, it's absolutely ridiculous. Um, I get average 10,000 views per video. I'm averaging about two million views per month on Tiktok and I think I've made, I think I make like 20 bucks a month on Tiktok monetization where youtube I get a lot less views and I make a lot more than that. Yeah. It is crazy. Yeah. It it is crazy how little, you know, you could get out of some of these some of these platforms uh now crown, I want to throw it to you tom Now in May it was announced that polygon would be utilized for their N. F. T. Platform. Do you see polygon or another Blockchain getting more involved or implemented more into the meta ecosystem or do you think they're going to kind of try to control everything and keep it you know on a closed system? I think the move to polygon makes sense.
They said that back when I'm sure ethereum gas costs or transaction costs like 200 bucks. Uh That would just be the popular thing to move with at the time. No one wants to pay that really though. They've been talking about this for such a long time and we haven't doesn't exist yet. Um It's weird to me. It seems like the, I don't know the boy who cried wolf, they keep talking about it. Where is it? I hope it doesn't turn out like queen base N. F. T wallet. That was a huge flop. I could definitely see that happening.
And actually talking about the creator kind of fund, I just got accepted into that randomly. I don't even really use instagram and I like $14. I don't know. I'm sure that's important to somebody and that it could be the difference for them to be a creator or not. I do like that movement towards encouraging and supporting kind of blossoming creators but facebook N. F. T. S. If it's facebook at the end of the day, they're gonna make their own chain at some point and there's gonna have it on there because they want to control it. They don't want to be out of out of the hand, out of the grasp of the power there. So I don't know. Yeah, I I totally get it.
It would make sense to me that facebook would try to you know try to keep everything you know closed in the system. But polygon like you said, does make sense. So who knows? We'll have to see what happens now. Rice throwing it over to you. It was recently reported that Meadow was also working with Hong kong as well. Does this raise any concerns for you or is meta just looking to grow? I mean everything that meta does brings concerns to me, especially the fact that people are still continuing to use these platforms including myself when we know that they're just collecting data and taking advantage of censorship being able to control what you see and what you can say. So expanding out with the creator element makes sense because these entities right now are considered private companies, so they're not bound by the First Amendment so they can control what people say. So youtube is in the same position, I mean we have to watch the Youtube overlords, I mean they're able to pay a little bit more in the monetization, but they're still at the same time, people have to watch what they're saying, what they're talking about because ultimately they control what people see and what people say. So the algorithm is a big part of it as well. This is collecting more data.
Um, now I do see meta you utilizing Blockchain where it's appropriate and makes sense. But for the most part you're going to see the majority of these metaverse projects have to have a strong level of centralization because you're going to have to deal with central servers and there's really no way of really getting around that one. Now, it's kind of bittersweet. Some of the things that they're going to be doing is really cool, but it's meta. So you've got to take all that in consideration. The interoperability subscriptions, I don't know the pricing that when he was mentioning, but it would give you access to the subscriber only facebook groups via multiple platforms. So I think that's a really cool thing. Um, also cross posting the instagram reels to facebook and allowing to monetize them and one of the other things they're testing on instagram is to create a marketplace, which is going to allow for discovery and content creators to get paid plus for brands to announce new partnership deals. So there's a lot of really cool things with that. But it's capitalizing on a market that's growing and it's also capitalizing on a data collection and it's also capitalizing on what people can and can't say and what they will and won't see. Absolutely capitalizing on data collection. That was, that was, that was, that was the main thing I heard right there.
Thank you for that Rice. Uh and speaking of rice, that is all we got time for today and rice, it looks like you're taking home the trophy, the bit squad trophy tonight. Uh, so the floor is yours, my friend. You got about 30 seconds to a minute. Let the people know whatever you want them to hear. Well I appreciate it's been a great panel. I respect all these content creators, make sure you subscribe to my channel Rice, T. V. X. On Youtube as well as all the other channels. Tom Crown Crypto Wendy go and coin daily tomorrow is one year since john mackey bobby's death. His body still hasn't been released from the spanish authorities.
I encourage people to go to my channel, watch the Janice mcafee interview, make sure you sign and share the petition. There's gonna be a tweet coming out tomorrow is gonna be sharing a little bit more information. You can follow me on twitter to also get that petition link, please sign and share that petition for the release of john Mcafee is body, tomorrow is one year since his death. Alright guys, so that is all the time we have for tonight. Like Rice said, don't forget to go down to description below and give everybody here a follow and smash that like button on your way out if it's not too much and with all that being said guys, that's all we got Frankie candles out.
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