Bitboy Threatens Class Action Lawsuit & Metaverse Worth TRILLION$ | TGOC - Transcripts

June 16, 2022

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The Gentlemen of Crypto EP - 969   ********************************** Connect with us online at the following places: KRBE Digital Assets Group 🌐 • Website: • TGoC YouTube: • Masterclass: SOCIAL 🗣 • KRBE Twitter: • KRBE...

Transcript

I'm king blessed

and I'm Bitcoin's A and we're here to bridge the gap between Cryptocurrency and the community with

the K. R. B. E.

Digital assets Masterclass,

that's right. Your one stop shop for all things. Bitcoin and Cryptocurrency. We teach you everything, talked about them from buying, selling, swapping all the way to different exchanges, Managing your portfolio, yield farming 3000 plus percent A. P. Y. Yes, we have that in there and collateralized loans top to bottom 12 hours 14 modules

so make sure to enroll today to be ready for the next bull cycle

and we are live good morning Crypto warriors and welcome back to the gym in the crypto episode 969 99. Today is thursday june 16th 2000 and 22 I'm king

and here to bridge the gap between Cryptocurrency and the community monday through friday at tennis

at tennis and today's top stories. Big boy founder, I thought his name was Big boy, Big boy founder threatens class action lawsuit against Celsius Bit max co founder, Benjamin Dello Boys jail receives 30 months probation. The quantity provider acts platform to freeze three A. C funds to recover assets at their litigation. Banking uses 56 times more energy than Bitcoin. Value chain reports and metaverse could be worth $5 trillion by 2030 makin ski report says. But first and foremost what's going on with the prices.

Oh yeah, so let's take a look at our prices for today. Not looking too good still, but hey this is the market you chose, this is what you got to deal with so. Bitcoins at $20,869 down 3.5% ethereum and $1099 down 3.5% as well. Bytedance coin in 2 15 is down a half percent.

Cardinals.

Sitting at 48 cents down 480.6% today. X. R. P. At 31 cent is down 310.7%. Salon A sitting at $30 is up almost 2% today. And those coin at five cent is up 1.3%. And our biggest game is for today. LF world up 1738% THX token up 544 and be male up 519%. And if you look over here at trending Celsius token is down 16% today and we'll talk more about Celsius in a minute here. So a lot of blood in the markets. This is good.

We're cleaning out the trash

as somebody

put on twitter. They said last time we hit four K. We hit it twice before we went back up. So even though we hit 20 K right now, may not want to try and catch a falling knife, let it even out before you try and dump your entire savings into it. Maybe you may get lower as well.

All right some quick shout out this morning what's going on. So toshi slim. Michael Kennedy Wendy. Nichol's Damon king James bailey. Uh See solar goodness God excuse me. Toshi Slim. Just call me el chappie, Yemi Yo what's going on? Um Yo man you meet somebody and then snag your hoodie again man that hoodie gets going around my place bro. So I'm gonna try to get it back again this weekend. Reno gamble. What's up? Miss K.

G. Man. Good morning, good morning. Good morning. Anyway I can stop them getting notifications. Only thing we can think of is just put all notifications next to it and hopefully that works is a combination of a shadow band is a combination of us having more shows than three during a 24 hour period. Uh And this combination just in general Youtube jacking up so make sure I hate trying to do that. What's that?

Hey hey hey hey

uh let's say hes a any a Ryan says any advice on what I need to say to 401k. People to make them give me my money. They try to make it impossible.

Um well you can take it out early but it's like a 15 or 20% charge. Um I mean they can hassle with you all you want but you can you're supposed to be able to take it out whenever you want. They just hit you with that charge. But if you wanted to move your 401k. To Bitcoin. There's options there as well. Um There's a bunch of companies that was at the Bitcoin conference so that's two different ways but you should be able to take out your 401k. Early, you're just gonna get hit with a 15 20% strike.

And speaking of that, we will officially have a partner with that here. Uh hopefully within the next couple of months and then also a new content creator is gonna be coming on board as well. I just spoke to him yesterday shout to Leland if he's listening but he's gonna be repping for the 55 and older crowd. People, you all have been wanting it, you said you had enough of our boomer jokes uh and AARP is that the people don't even know what I'm trying to talk smack. I don't know, I'm just trying to trigger, you don't know the names of this stuff. But yeah, literally we're gonna have somebody represent for the 55 older crowd. He's gonna be talking uh Roth iras and roll them over to Bitcoin and crypto what you can do with your portfolios essentially. He already told me he wants to be there for that generation that may be on his way out of working, looking toward retirement that may have disposable income or those who don't have disposable income and looking to make it before it's too late. He wants to cover down on all those 55 plus folks. So officially we have, I don't know, maybe we'll call it the boomers and Bitcoin or something. I don't know. Bitcoin hilarious.

You all know we love the trigger everybody. It's all love but again we're gonna have you covered too. So as already stated like literally a visit spot for us to cover. We're gonna find some people knowledgeable enough to cover it and uh and we'll be there to support on our channel as well. So be on the lookout for that also. Uh other than that,

Yeah, bucket list Bitcoin. How about that?

That's a good one bucket list. I love that. Alright, so we got three, hold on, I gotta write all three of those and go back to them with those. We got bucket list. Bitcoin. We got boomer. Bitcoin and boomers or boomers and Bitcoin.

Yeah.

Uh I forgot the and Bitcoin. Here we go. Like that. Ben Gay and Bitcoin. Alright,

so we got

shout out to our warriors. You know, we love y'all but y'all are not against getting these jokes to we give them to everybody. Okay, other than that let's get started with the top story of the day. Everybody say hello, that's wrong. And you know, we're just messing with y'all. Oh my goodness. Just called me, L said my crypto has fallen and it can't get up bang bang, shots fired. You are hilarious gen X. And fickle. Um let's see what else we have wealth rising 50 is the new 25 L. O. L.

Oh man, y'all crazy, you can't say that because 25 is illegal. Then you gotta come on, you can't go that low. Alright, I'll go back to those comments because you all are rolling those jokes in right now. It's all good. But let's get to the top story of the day. That is right. None other than your fearless leader. And I say you're because he does, hey, love it, hate it wherever you feel about it. He probably has the biggest following in Cryptocurrency when it comes to Youtube and I guess in the podcasting of that sort. Uh and of course he was just featured on E. Y. L.

So as I say, your leader, you're a leader in crypto. Big Boy Founder threatens class action lawsuit against Celsius. I mean you're talking about Cryptocurrency and class action lawsuits in the same sentence saying ain't so say it ain't so big boy Crypto Founder Ben Armstrong said that Celsius won't let him withdraw money from the platform without sending more money to it first. And this right here and no offense if you're listening, Big Boy Ben, I never met him, so I have nothing against him. I don't think I even really say anything negative about his platform with the exception of just caught me off guard of how he has so many subs and followers with no offense again to him, it's just like what year did he come in? Like 2019, 2020,

2017 maybe.

No, it was not 2017 unless it was on Tiktok. But that's always my point is listen I'm not, I'm saying this cause I'm not trying to down the guys just I don't see him as an expert in space more of as an enthusiast for sure. Uh so it just caught me off guard that so many people follow just another enthusiast but hey props to that. But I'm just saying that it is definitely funny to me that this

is the leader of these

folks and it's like bro, you're doing a lawsuit like this whole point of this is to get away from all of this stuff but uh that is right just two weeks after appearing and ask me anything am a with Celsius Founder Alex Moshinsky, wait, wait, I'm confused about

this.

Was he on the A. M. A. With him?

Yeah, stop it

cause I read this when we first was talking about, I thought Alex by himself, Bitcoin, Ben was on the M. A bro, you had them with the M. And you still got Hoodwinked and oh my goodness uh Celsius Founder Alex Lashinsky, crypto, Youtuber Ben Armstrong has announced he intends to file a class action lawsuit against the lending platform and his chief executive Armstrong made legal threats via twitter on Wednesday and has since provided more detailed multiple threats. His issue is centered on being unable to pay downloads with existing funds on the platform and instead having to deposit new funds to pay the loan off our account rep told us we had enough money in our account to pay off a loan but we can't use money in our account. We have to send Celsius more money to pay it all. Um, and then as you can see here, imagine an insolvent company that you can't withdraw your money from asking you to send them more money. He added again, this is the wild west of crypto. Everyone who claims to be a subject matter expert should already know that in this space. And I think honestly the reason why this is my first observant observing this thing. I think the reason why he feels comfortable going with the class action lawsuit and the reason why he's going with the class action lawsuit is not only can he not get his money off if that's true, but I'm thinking since you just had an A. M. A.

With this guy two weeks ago, the majority of your subscribers can't get their money off either, which means you have your entire support and customer base looking at you crazy because you're like, hey, you just brought this guy on two weeks ago on a. M. A. I'm assuming because the way I've heard you do business, you probably was like, hey guys, you want a quick easy 10 20% go on this platform. You got half a million people with that followed suit and went to it and now they're hoodwinking you all. Now my thing is I again, he has his own account person. So if they're getting Bitcoin then the money is going for sure for sure, but I'm not even sure they're getting him um as much as he sees the opportunity for his community, this community is getting got and they're reaching back out to him like, hey you just had these guys on a. M. A. Like you told us to go into this, what's going on? Uh This could be an opportune time for him to say, hey, let's do a whole class action lawsuit, especially if his money is at stake and he's not getting his money back either. But again, this is crazy to see um you just had a ceo on You got what 1.45 million subscribers on your channel.

Uh, and you're getting slapped around like this. And what's even more interesting for you, take this over Bitcoin. Z how in the fuck from Wednesday tweets, this made thursday on coin telegraph. Damn coin telegram dr Phil can't get a shout

out

on fox business. Can't get a shout out. Like none of these other things where we're shedding great lights on in Bitcoin publicly. Can get a shout out. But when you go to that the followers that money we got it, but really quick. Um one thing I will point out is the author. I mean just looking at it looks kind of young so that's kind of what it is. But again, everybody's gonna upset about the market and all this other stuff. This is the game we're playing. You want the highest subscriber account, you want the money to be going in and out and this and other, no one wants to talk education, no one wants to slow down and say, hey, there might be some holes in this defense when we're looking at block by Celsius and xo, no one wants to do those things. But as soon as something goes wrong, oh man, hold on, hold on, I gotta do it. As soon as something goes wrong, this is what happens, who can we call for help?

Can we call the government the government. Now it's time to get the government now it's time to get the government involved. What are your thoughts on this day?

Hey man, you can't answer the ship coin casino and complain because he lost on red. Uh that that's not our problem. You enter the ship coin casino. Now you gotta deal with joe pesci. That's it is what it is. So when people talk about this market, we always say yes, you can make some money and and crypto if you, you know do the right things, but you can also lose it because this is similar to the Wild west, of course, there are legal proceedings that can take place. So he does have precedent. I mean people have sued exchanges before. Uh the funny thing is is I did look it up. He started channel February 2018 in the middle of a bear market. Um and

be clear to be clear again, I might be able to cut you off. I don't respect the Q 1 2018 babies. Hype train hype train hi train. They called it at the top of the market. They were trying to run with it, but go ahead.

Exactly. I mean that's a lot of the people in Q 1 2018 and quarter two they ran with the hype train. They kept thinking it was gonna recover instantly because the price of just 20 K. And what ended up happening was they had to stay in the market for two years just to see growth in their assets. So again we always say bear market creates the best holders. So that's probably why he stayed till now. But I think a few things from this one like we discussed before the show

already had my

doubts about Moshinsky when he said he created voice over I. P. Actually no, that was created by a black woman named Marian croak. She's now the C. M. V. P. For a T. And T. She's got over 100 and something patents. So when he said that I was already kind of off of Moshinsky but Celsius by itself whenever you I promised these high A. P.

Y. S. There's always gonna be an issue at some point for liquidity whenever the market goes down. So big Boys should have known this. The problem is they haven't been around for almost a decade like myself for six or seven years like King uh they are just entering the market and now they're ruffled because something happened to their money and it's like yeah these proceedings could take 23 years to drag out. So even if you do with a file a class action lawsuit could be, I mean that's that's the main thing about the Wild West. It's like yeah in the Wild West, if you if you want to go to court cool but we're gonna drag this out for so long and you don't want to go, you might as well just go stand back to back and duel it out and that's what the Wild West is.

I'm glad you said that cause I was about saying when it comes to the Wild West, what are you supposed to bring a gun and what's your gun in this market? People, you're freaking brain, your brain is your ground but no one wants to use it. Why? Because money, money, money, money, money, psychological greed. They gotta get more money and more subs go crazy like people how many times have we said like it is so easy to get subs in this market, literally we title all our shows and do every show every day. Where is a specific all coin? We say srp is going up 3000 after this sec lawsuit. People, we would literally have five or 10,000 people in the video. We tried and we already know it's true. Whenever we talk about the coin, those videos do a lot better because people think we're gonna talk good about it, imagine we were actually to talk good about a project and pump it like it is literally the easiest way to get subs when it does it. Um but and I make that point because it doesn't make you a subject matter expert in space and what's crazy about this one again, no offense to Ben Armstrong, Bitcoin, Bit boy or whatever cause he, he has been doing a great job as far as being consistent and bringing more people over the crypto and everything. But again people who are the main influencers in this space are getting caught by what I consider easy layups.

Again, we talked about Celsius in the master class and the things he talks about in his tweets are things not only did we say in the master class, but we also reiterate through numerous shows and once again re enumerated yesterday, first and foremost Bitcoin, Ben Ben Armstrong, I take that back, you did lose some money, you lost a lot of money, you know how I know because he is over here doxing people, hey this dude that's my account manager right there, holler at them

people. How

you how you gonna put my mans out their Bitcoin Ben. Hey people, my man Ronald out there. Little Ronald disappeared. Ronald is gone. Hey, Bitcoin Ben, that was a cold move my boy like goodness gracious. Ronald said he'd gone uh what was the other tweet I clicked. I'm not sure which one, but let's go ahead, look at something tweets. I really want to go through these really quick how Celsius are actively scamming people right now, threat Again. Like literally our master class came out June 26 of last year people. So I don't, I mean, hey these people don't want to work with us, they don't want us on their shows, they don't want to partner with to do anything with us. But they're still getting hit with layups and these are the experts on this. I mean that part notwithstanding it being him is funny to me, it doesn't have to be him.

Say this person's name is A B C X Y Z. The fact that a BCXY. Z. has 1.5 million subscribers and followers and all this other stuff and it's speaking from a position of being an expert and they're still getting hit with layups. Getting beat by layups. It's crazy to me. Um our account reps, Celsius is Ronald, whatever. He told us, we had enough money in our account to pay off a loan but we can't use money in our account. We have to send Celsius more money to pay it all. Imagine an insolvent company that you can't withdraw your money from asking you to send them more money literally defies logic you know blah blah blah. It's because they are totally insolvent the money that shows in our account isn't actually there. People we have said that many times you all think you're staking, you think you're doing X.

Y. Z. If it is not a decentralized platform more than likely you're not you're acting like you're doing it and then on the back end they're doing whatever the hell they want to do but you're not actually doing what you think you're doing. Uh Perfect example of people you keep going to the C. D. Five platforms. No they're not giving you full control and allowing you an ability to do what you want. Like that is the crazy part about the true defy space. It is very difficult to maneuver and defy you gotta go to bridges you gotta do this you gotta do that takes 10 15 20 minutes to make that transaction happen sometimes but that's because it's brand new and it's deeper and these things aren't easily 123 clicks whereas on a C. D. Five platform like Celsius they're making it super easy because you're not actually doing

it. You're

just giving them Capital but he says because they're totally insolvent. The only reason we can't use it is not there And these idiots, no offense but you can't call them idiots when they have everyone's money. I mean if I said if I said Z watch this in three years I'll show you how to get $500 million poof and it comes up with $500 million in less than three years no matter what I did do it I'm not an idiot. I got the $500 million. The person who put the money into a C. D. Five platform for whatever reason and kept it on there is the actual idiot. I'm just gonna put that out there. Uh And these idiots have the audacity thing we're gonna send more. Yes they do think you're gonna have the audacity to send more because you already sent some.

Yes

they do think that

and every transaction there's a and there's a hope and if you're the one paying the money

is Ben armstrong. This is a pure scale to try to bring in fresh money from users to pay off loans. You see once ethereum is a certain number we get liquidated and lose our collateral against the loan. So they are trying to take advantage of fear in the market to pad their pockets. This is true as well that's why we say you have to be careful with these things and they should only be discretionary income on them as they head towards bankruptcy. Make no mistake about it at this point now I see their game at this point now at this point after I had their Ceo on on a m a 21.5 million people. Now I see the game now that they've stolen from me. I get it. It's only a matter of time before their biggest position gets liquidated at 16 5 for Bitcoin. Somebody called 17 k. Listen, I don't know why you all have different channels. Always like, I don't

know. And

to be clear. And as I was reading his tweets, it reads like he washes yesterday too and talked about, that's what I'm gonna say. It reads like you washed it yesterday. If you did, can we at least give some props because you're not saying 165 out the blue buddy. No, not when you pump everything, you're not saying 65 of the blue. Uh, they know it as it gets closer, they're pulling out all the stops. Does this all sound familiar holding people's money hostage will assure because the most common scale for petty hackers and phishers again, you're calling us a common scale for petty hackers and phishers but they have your money, here's how it works. Someone says there and again, he's about to show how the petty scams work again. We go through this in the master class. Everything he's about to tweet about how these scams work. We cover in the master class exactly how the script looks. So essentially he goes over the script again, we've included that script and master class as well if you ever want to see that script.

I think we also showed on the show as well. Uh boom, boom, boom, he keeps talking about the script and then he says, keep in mind these victims are real people with families who have been praying for a big break and now they have finally found it, but sadly we know that 100,000 and blah, blah, blah again, keep in mind that these victims are real people with families, you're pumping shit coins.

Like

I said like you're in the casino, like stop it, like be consistent paying off student debt car and stuff like that. So this is where cells go ahead,

You can't talk about the craps table and you're over there playing 21 blackjack, you know what I mean? Like you can look at the other scammers over there while we over here doing it the right

way

together,

he said, you see the victim is told they can pull their money off anytime by paying an administrative fee of $5000 which hurts, remember there's $100,000 online, so the scammer is easily able to get more money from the victims again. Um okay, it's a few more self finish these, it looks like uh one thing I'll say about that again, people like, I can't say this enough because we covered it so many times Located in the master class, I say on all these platforms, I said, Hey, they know how much money you're making, so don't be surprised if they come out the blue and hit you with fees up to 6% or 7% or whatever that is because they know how much you're bringing in. I literally verbatim said that in the master class about these platforms, like I have to laugh at this, I'm sorry, I have to laugh at this because it's like no one wants to work with us and it's like, yo y'all not putting in the work though, you're not putting in the work, researching, testing this shit out, doing the deep dives, but you have these audiences that you are literally leading to the slaughter. I can't do anything but laugh. Everybody paying tuition, You can pay a $2,000 tuition Or it looks like you could pay $100,000 tuition is literally up to you. Uh, doesn't mind at all and actually shout out to the master class supporters and the new people about five or six more people reached out yesterday. So shout out to you all. Uh, the coupon code to get on top of it. Uh, and they will believe their victims drive by squeezing feet at their feet at the feet until the victim finally realized they've been scammed. The scammers are relentless, will do anything to get more money out of you, Celsius Network and Moshinsky are the scammers and Ronald also. I like how you put Ronald also.

So

again, to be clear the guy that you did A M. A. With two weeks ago is a scammer. Okay, I got it. Just make sure on the same page and today I'm the victim kicking myself for wondering how I let this get so bad and so far kicking myself for not seeing the obvious Ponzi right in front of my face, lured in by the decade of the charm of a psychopathic scammer. I guess we all thought Celsius Network was being No, we all did not. I guess they all thought on his side, Celsius Network was being responsible and earning returns and safe environments from reality. They are just deep. I see defi degen who never had any clue what they were doing. Mic drop. Ben shout out to big boy, you have done a great job being a community, invite us on brother, invite us on, we need to start working together. Same as we do a crypto blood and many other people in the space we share ideals, resources and knowledge about these things.

So you won't get caught off guard to me, your tweet thread was not a mic drop. Um to me it was a damning evidence of you not knowing what you're doing, no offense and you're leaving 1.5 million people to the slaughter. So again, start with the mic drops. Uh stop with the whole I guess we all thought Celsius network is being responsible. Like literally. No, we outlined all these things already a year ago. The same way we outlined things with terra luna about 2 to 3 months before that happened or whenever that was. So uh what are we six and o on the week

I think we also call block fire as well.

Yeah, for sure, definitely called blog called all three of them. That same thing.

Yeah. Because anything with high A. P. Y. You gotta have the liquidity on the back end to service all of your customers if they all showed up at the same time now do banks do that? No, they already know. They do real publication. But if you do, but they do have liquidity. That's the thing is they can just print it. You dont. So if you're on the back end not doing the same thing as them, this is the issues we have. But also to just to mention about his experience in the market, this is first time this has happened to him because I mean between crypto pia baloney X bit tricks, we have been through all the exchanges, we've seen it all.

We just see all the rug pulling them come and go. Um and that's why again why we always say no keys, no cheese. And then when you start using these platforms be safe, get your money and get out. If you are on the fiat path to make fiat, make fiat take profits and go and then, yeah, they gotta take profit at some point. Don't be greedy. But at the same time it is hard for people to join these platforms and then lose money for the first time because again, you gotta pay tuition and once you get hit with that bill, hey, it's a tough pill to swallow anybody. Remember the first time they saw their college bill, he was like, this costs what? For what?

Yeah, I know right for uh, to learn about kumbaya and really quick, I wanna add to that to uh, yeah, just say something is about to slip my mom, you know, I'm terrible at this really quick. Uh, what did you just mentioned? Go back

exchanges

strangers, what else?

I'm not sure.

I'll get to it. You have mentioned something great. I was trying, I don't want to cut you off, but I was going to take back one thing I will say about this big boy band thing too. It looks like he has an entirely new thread that's developed or whatever. Here's where it's messed up and was crazy if big boy Ben had issues, you better believe everyone else had major issues because if he's the biggest influencer in the Cryptocurrency space and he has these people on speed dial and he has a problem. Oh people have problems, but he said quick threat on Celsius network class action lawsuit developments for everyone And here's where it's gonna get funny for him, he already came out angry and puffed his chest because I'm assuming, I'm assuming six digits he probably wanted quick 10 20%. I'll throw 100 K. Up to 120 150 K. I could see him throwing 100 K. Up there. That's probably why he used that number 50 K. 200 K.

For someone of his stature and standing. That seems to be normal to me, especially what we know about people in this space. I think 100 K is fair and that's definitely something you will want back. Um and I'm saying all that to say I can see this unfolding where he gets his money back and he does everything is cool. And then this whole class action at least coming from him. Oh will wither down Celsius to be like a because the way it works people as Bitcoin to say we work with the tracks and all these other people ship tracks and all these other people arbitration is already built into most of these terms of service and the crypto sector which means you're gonna sit in front of our high powered lawyer and they're gonna come up with a decision, you're gonna agree to it, you're not going to take us to court and by using this platform you've already agreed to it. So more than likely what's happening as you can say as he actually says there. I can't say if you can't say, then that means you're already dealing with the legal team, their legal team arbitration, which means you can't speak about it publicly. So already used first came out class action. Everybody. Oh, I'm getting my money back and I can't tell you what we talked about. All right.

So anyway, I can't say, but I'll generally tell you where we stand spoke with lawyers who assisted me in past and an ongoing lawsuit. What do you like to know? L Yeah. All right. Yeah, I see. I know. How do we know how this game? Uh as of now, we're going through all disclosures, documents, long details, uh, and connecting with a plus class action attorneys to find the best path for. I'm not sure you guys are aware but discovered today that restructuring lawyers at Celsius and have retained. Uh Yeah, they're not going to let you come roll up on him and they got 3 to $500 million whatever they got. Uh Yeah, so they're specializes in companies for bankruptcy and he's going more into detail. Like I said, he kicks up enough enough dust.

They're gonna give him his money back and in arbitration, they're gonna say, you're gonna stop all this and this is over and everyone else who's following him hoping for this class action. He's gonna be like, hey, hey, good luck, y'all y'all need to do what I did to get this lawyer that cost 50,000 day or whatever and you might be able to get uh your your crypto back. So now he's talking self custody and stuff. But again at the end of the day this is quarter to 2022 now he's talking self custody. So again this isn't personal to you. Bitcoin band but it's happened to you, you went public with it so we have to use you as an example. It sucks that this happened buddy. But if you want to avoid these types of things in the future, uh definitely reach out to us man. Like it is what it is Any last minute thoughts on that one.

Uh well yeah somebody mentioned Moon Carl, I don't know if you know him on twitter That he had 200 million on C. She, that's why you should be sending the marines and sending the boys 200 million on there. But not nothing much more to say about this. As you can see you can see people are paying their tuition in real time. We've seen it over and over. No, but the reason why most of the people at the top in this space are pretty humble is because if you're not this market will humble you.

Yeah. Oh that was that is what I was going to say uh in regards to it just slipped my money and slipped my memory that quick. I'm in the comments. Oh man, it keeps coming and leaving. It keeps coming and leaving. I will I will figure it out in a minute. I keep forgetting. Um I don't know this whole thing is crazy to me again. These are late of Celsius and terror layups people and even if they weren't layups You shouldn't be over leveraged into those types of platforms and projects. Like if those go down you should be like ship I lost house money, I lost profit like already took off my main profit. This is secondary profit right? You said you make 10-20 I lost

my drink, I lost my drink money for this month. Like it shouldn't be like oh my life savings are gone.

Oh that's what I was gonna say boom. Alright before I forget it. So that's what I was gonna say crypto blood if you're listening to C. B. And everybody else out there this is why unless this is the only exception. If you're one of those dollar cost average holders long term for forever, this go to my kids kids. Then what I'm about to say doesn't apply to you. If you're doing anything else besides dollar cost averaging holding for forever. This applies to you. This is why I spend my Bitcoin. How many boom. How many times

hey

this is why I spent my we had that conversation a few weeks ago like literally when you know you don't like yes this is why you spend we're not done. this isn't bitcoins over and done with people. We got years and years of growth adoption and everything is gonna happen in between. We're gonna see this thing go up to 100,000 and back down to 60 K. The next day. Then back up to 125 and back down to 54. And you are gonna be piste off on its end at 55 K. For about six months. Like we're still going to see all this. So unless you're one of those people who are saying I'm never selling any of it, I'm only buying to hold then do that. But if you're one of these people who are in and out of the market whatever like this is why I do it because I'm working the market I'm in and out of the market and I'm working full time in the market to the effect of yes crypto is a big part of what comes in not just fiat so I'm spending my ship people I'm spending my ship because when it hits 20 K. And it was just at 66 didn't spend none of it and you you don't have any more money dollar cost average for those people who don't or don't haven't been doing it this way then you're looking crazy right now.

So again have a strategy. I know what you're doing in this space. You know why you're doing it. Stick with it all right, that was a show in and of itself, goodness gracious bit max,

right?

We have to do a Big boy special offense. Big boy again. No, no love lost against him. I don't want to make it seem like that, but it is what it is. Like if you if you're the biggest person out there, you got to talk about it. Bet max co founder Benjamin Dello voice jail received 30 months of probation. What's going on with Benjamin Delo?

Oh yeah. So Benjamin Dello, who was the co founder of Bit Mix along with Arthur Hayes. He was allowed to leave the country to travel to Hong kong where he's a resident bringing to a close his part in the legal saga, which began in 2020. That was two years ago. So I do want to remind people if you take out these lawsuits or if you get sued, he's gonna take two or three years. The sentence was handed down at federal court in new york follows his guilty plea in february for willingly failing to establish implement and maintain an anti money laundering program at bit Mix. So he will do no jail time, but he will have 30 months of probation and pay a hefty fine. The judge called Della's violations. Very serious and said that he knew bit Mix was breaking U. S. Law by not implementing A. M.

L. And K. Y. C. Regulations. Uh He also took a few steps further to rectify the situation and for them to become compliant. The thing is uh if they've already made $2 billion off of non Ky C. Bitcoin trading and then you come through and you charge them, you know whatever 100 million fine. Uh They basically came out on top no jail time and they paid a fine. That was less than 10% of the money that they made. Uh you know that's about as good as you can get out whenever you have such a large exchange because this was the biggest exchange in the space in 2017. Um And you know going in 20,019.

So uh this is one of the you know proceedings that happened and they got off pretty good. But at the same time you gotta have big money to play with the big boys cause that's really what they're looking for.

I mean not only that, hey how do you sell probation in Hong kong? Like who who's checking that ship? And I'm not even like no no shade no shade. I mean do your probation where you're allowed to do it at. And then the second thing is I love how they get and again I'm being serious when I say I love this because they didn't do anything wrong. People like they started something new that had no regulation around it and essentially no they did do something wrong, They made too much money and didn't play the game like that is literally the only, the only thing they did wrong was make too much money not pay the boss. But it's funny they're talking about, they're gonna have, you know, they're gonna have house arrest six months of home detention like Brian Armstrong who's on the same level of these guys just about $133 million Bel air. Like what we just did home detention for the last two years for Covid, I could do six months home. What? Give me $100 million home. A PS five good internet connection. What?

I already don't leave the house, especially

in today's time. You don't need to leave. I got doordash, I got Uber eats, I can get everything you want, you can get delivered to the house, especially if you live in the damn Tony Stark mentioned in Bel air or wherever Arthur that's, this is not a punishment. This is basically them being able to rest and then they're just gonna float away. I think out the limelight, take 100 few few 100 million and just live their life.

There it is. There it is. Alright. Uh, let's see. Banking. Oh, these are a couple of good stories. We want to make sure we hit on while talking about this banking story. I'll go ahead and take a peek at some of these comments what's going on. Banking uses 56 times more energy than Bitcoin value chain reports. Uh

I feel like we've been beating this dead horse all the way to the point where we're basically using it for for weaving for clothing. We beat this dead horse all the way down. But again yes analysis of Bitcoin's proof of work and the lightning network exposes the banking system as energy hungry, demonstrating that Bitcoin is better for the planet. These are fresh figures on Bitcoin's energy consumption, efficiency and scalability. They serve to expose the banking sector while bathing the world's largest Cryptocurrency and a new light actually the light has always been there. You just wanted to ignore it. This report was published by Michael Kosaka I. T. Engineer cryptographer and consultant. He says that Bitcoin payments are a million times more efficient than the legacy financial system and that the banking sector uses 56 times more energy than Bitcoin. Anybody watching this right now, if you ever get the energy debate that comes up, go ahead and save go ahead and go to coin telegraph and save this link. Any time somebody brings that.

Shut up. Just text him this because the research has been done. People even before this report, the research has been done but the quote he said their Bitcoin, lightning and Bitcoin in general are really great and very efficient technological solutions that deserve to be adopted on a large scale. This invention is brilliant enough efficient enough and powerful enough to get mass adoption. Oh man, who's been saying that since 2013, uh, he founded the payments consultancy value chain in late 2021 he proposed an alternative to the energy estimates provided by Cambridge Bitcoin electricity consumption index, which we all know Cambridge. They got that top tap on the shoulder so they had to put what they can put. But again, if you look at the stats here, I don't wanna go through every single one.

But if you look at

the stats here, Bitcoin is obviously better use case for banks. Again, if

you look at banks, they

got buildings everywhere that's half empty. They got a bunch of employees, they have lights on and running machines all day. They gotta transport money, they got to receive the money, put it in these vaults, they take a lot of energy. You got to get security, You gotta have cross border payments, you gotta have the software and the artificial intelligence to make all these payments all for what for bullshit. Legacy financial system where the inflation rate is over almost 9%. Actually more than that. And where the value of the dollar has gone down 99% and they don't have your money in the bank. That is what I call inefficient my people and that's why Bitcoin is still the best option. It's just gonna take some time for us and for people to realize this is a superior money system, we're moving into the future. And if you're not ready for it, we gotta drag your grass with us. Well you're coming to but everybody's gonna speculate and with stats like this, this is why we say that. Bitcoin is pretty ironclad at this point.

Um and do what you want. But the stats show otherwise

there it is, there it is a couple of comments over here. Crypto nomics was like, you know what's up with this lawsuit mess? This is not like where crypto started was supposed to be I'm with you. Uh 2016. Could you imagine? Like I mean they're only lost what they were talking about them, which wasn't even in this country really was the Mt Gox, not even a lawsuit. Just really trying to get people figure out what the hell happened. Uh Crypto boy on earn your leisure the other day. And he did say that he is now an expert in the crypto space, but there you have

it.

So, I've never heard him say that's why I wasn't gonna get

brother. And I was like, all right, that's what I said, like when I watched, I had it in my ear listening while I was watching the game at the same time. So I would hear like snippets of what he was saying, but that really perked me when he said, I feel like I'm an expert and I was like, adam back doesn't even call himself an expert, his name is in the damn white paper like shout out to Adam back I did meet him at the conference to Yeah, yeah cool dude chilling. You know what I mean? Like most people that's already you know in the space are but yeah, I mean you're not an expert. I mean nobody is because things can change next week. Even we don't call ourselves

experts. We

have a lot of good information. But at the same time if you call yourself an expert, it has to be an industry that's been around at least 20 years. I mean that's just my, my personal feelings. If it hasn't been around at least 20 years to see all of the changes and four or five bear markets and four or 54 markets then we, what are we talking about here? Uh so right now we're both me and King are both really good at what we do. But when you call yourself an expert, you basically just put a target on your back because the real expert is about to start asking questions and that's when

and one of the reasons the one of the reasons I haven't ever call myself an expert also because what I don't want to happen uh you know, I mean I'm one of those people like I don't want people to start with me because I know who I am. So I just do things. So there's no reason to start it. And one of the ways there's nothing to start, I don't call myself because the last thing I want is Andreas and monopolists all of a sudden. You know what I don't like him today. Makes you an expert. So yeah you know what I mean? Like last year when novelist adam back some of these people oh you're an expert now like well X Y. Z. It's like I don't want that conversation. I always tell people I've been in a long time, I experienced this about their all this experience and I learned a lot from it. I know which way to go for it but as far as like experts, if I was an expert shit I would say if either one of those expert, I mean we still bounce ideas off each other, you know.

So yeah I would I wouldn't say that either but that's hey hey let them not hang, let them hang. I ain't mad. We did skip a story. I want to go back to talk about this three A. C. Thing, liquidity provider acts platforms to freeze three A. C funds recover assets after litigation. This is a crazy one right here. But to me this is self regulation. So I really do like actually seeing this Danny Wagnon said that their team detected that $1 million was missing from their company funds at three arrow capital. Oh starting the ceo trading firm blocks eight blocks capital called out to the platforms that are holding funds on by three A. C.

To freeze assets as rumors of three a season solvency stay afloat in the twitter thread. Well, people will be on twitter bro. I gotta go on twitter.

I hope we got me on twitter. So I see everything a day before everybody else. I

sound like people coming to Bitcoin like come to twitter like 2022 Q two. All right, let me get on this every, every day. Want explained to their company's involvement with three A C. Noting that they are paying the company to use the trading accounts that they own the agreement including the ability to withdraw funds at any given time. You believe that one. He explained that we had known them since 2018. I thought they were competent and didn't think they were diligent enough to lose billions and not employ basic risk management. Damn. It's big boy between two accounts. What's going on with three A. C. Right now?

And uh, I guess this company uh, eight blocks Capital that probably loaned them some money or whatever.

Oh man yeah. This that quote is hilarious. We had known them since 2018. Thought they were competent and didn't think they were diligent enough to lose billions and not employ basic risk management.

Well then you don't know a real DJ, my boy

for the real DJs, my boy. But again this is another company, three A C. We discussed where there's insolvency rumors right now. Uh And again they are saying that they went through their account and they detected that they are missing a million dollars. And again these long as threads on twitter of people who got got by these corporations and by the centralized defi platforms is hilarious because again if you thought this process through the same way you thought of that thread you would have never invested with them anyway or you would have had better risk management because of their risk management. So yeah welcome to the real Degen's. These dudes lost billions of dollars if this is true. But again we're waiting for the farmer's story. We can't say this is 100% fact. So once we can see what three A. C. Is actually working with we can make it more determination but it's starting to start to kick in on on twitter now.

You gotta get on twitter king.

Yeah I had to, this is getting crazy like the threads I'm missing all the threads from Ceo is going in on people calling people Degen's calling out Ronald and stuff you know I gotta check this out. It's pretty cool. I like it. Uh really quick looking at some quick twitter. I see I'm gonna say tweets looking at some quick chats before we go to the last story Reggie middleton and houses going on Reggie. If you all missed that talk yesterday with Reggie hosted by Marlon, make sure you catch it out on our channel Reggie's going in depth every Wednesday at 10 AM PST on the defi sector. But I agree with him. Reggie Middleton said no sympathy for anyone who uses centralized services for decentralized currency. None absolutely zero. I 100% agree with that registered coin bases next like I agree with that people like and this is so frustrating about it. You keep going back to where we're trying to get away from and again if you're in a first world country you have money and resources you're fine. You don't get it.

But even me being in the military and not having a debit card working overseas in a place where no one speaks the same language and I don't know what's going on left and right like these systems are important is more distant about the value of them as far as fiat goes to actually be able to use these systems to actually be able to have a defi sector now like this is important. So yeah if you're doing the five or you're going to the C. D. Five thing and you're leaving a bunch of money I'm like no one's gonna feel sorry for you. Uh said how are we coming up with 17 K. As a new low uh in Bitcoin. So essentially I saw somebody kind of answer the short version of that as crypto rasputin's say at least for me uh intuition, political economics and educated guests somewhat. A lot of fundamental analysis and I still do look at some people's ta as well but just kind of bundling all that stuff together. I kind of understand like the what's the, what is this called? The ranges of things can go once they start to kind of slip and slide. We've seen them. I mean honestly we've seen it happen already right?

So that's the short answer to that basically last but certainly not least metaverse. Alright here we go. We should make we definitely did not entitle, we gotta make the stomach metaverse could be worth $5 trillion by 2030 makin ski reports, that's right people $5 trillion is time to one billion x your portfolios and the next 10 years next eight years actually that's right. A new report from global consulting firm McCance key found that the metaverse could be worth $5 trillion 2030. Again this this article and this mckinsey report is everything that is wrong with the crypto space, literally everything that's wrong with the crypto space is this we haven't even got people in the metaverse yet, like we're still working on hardware software adoption like and again don't even get me started metaverse projects haven't entered the top 10 hackers don't know about the metaverse like that yet. They don't think they need to be hanging around like regulators don't think they need to be hanging around yet. Like what are you talking about scaling Have we had five million people at in the metaverse concert yet And we had 20 million people go through a metaverse mall and buy things like what are you talking about? What is worth? Like stop it,

stop it. And

also the

Wording is hilarious because me and you could write a report king and just be like yeah the metaverse could be worth 10 trillion by 2030. Here's our numbers. Oh yeah, we had a 77 page report, we gathered it from a bunch of consumers and companies and we realized that hey they might pay a lot of money for stuff and then based on the money they've already made, it could be five trillion by 2030. I mean it's, it's literally just, it's just a guessing game at this point. And the numbers they used uh what he said here Mackenzie predicting uh it will make anywhere from two trillion to 2.6 trillion of all spending. Talking about e commerce by 2030 virtual advertising will be another major sector with associated revenue expected to make another 144 billion, 206 billion. It's pretty hard to do these numbers simply for a few different reasons. One inflation, Everything he said might be uh double what he said as far as in fiat price but still be worth less. Also to the five trillion number when you go that high as far as pop tree and that's basically just casting a wide net and again this is very Clickbait. E because I'm sure they get a lot of people who see that that big number and say, oh if it's gonna be five trillion, let me enter this market now. Are we saying he's wrong? No, but what we're saying is these educated guesses, we've seen people like bobby lee uh talk about the price of Bitcoin could be 100,024 2020 for it could be 600,000, it could be 10-K We've seen people go back and forth flip flop, make all these predictions whatever.

But again it is what it is. When you read these reports, we gotta come up with our own report King. The entire crypto market will be $100 trillion by 2026. Like who cares?

Yeah, this is

take a nap. I'm about to make sure your stack saps to take a nap bro. Oh that's so

that's that. We got one stack sats take a nap, take a nap.

Yeah the metaverse is gonna take off to some extent but it will be centralized. I don't think the centralized metal verses will take off as much at the beginning because they they won't have as much investment but there's gonna be a lot of centralized metal verses that are easy to use good uX and my mom and grandma can can participate and then once the glasses go from these biggest bulky helmets down to like regular glasses. I think that's when you start to see more augmented reality more, you know, virtual reality stuff. Yeah exactly. Just wait till you get the neuralink and then you'll really be living in reality, you'd be having wild dreams and ship

really quick cause said said, yeah, I started to say up and spend my Bitcoins on bills. So one thing I will say about that to make sure I finish that thought while I am spending my Bitcoin, I'm doing it cause I also aggressively stack it right back people so I do want to make sure I want to make sure I'm clear on that. It's not like I'm spinning and I'm not reading up. No, no, no. If I spend my Bitcoin usually like okay like four days I have X mile coming, I'm gonna buy right back, you know, 10 days I have X mile coming in, I buy it right back and I say that to say that way I'm still like dollar cost averaging, getting right back into X. Y. Z. But again sometimes I do over leveraged or under leverage. I guess how much fiat I have some, sometimes I do have to jump into the crypto side. Uh let's see what else we have looking at some last comments. I'm looking at these comments that you got any last thing you wanna throw out their announcements.

Yeah, somebody said that the only C. D. Five platform they trust is Gemini um So you know what I mean? Like

they're not defeat though.

That's what I'm gonna say. I don't know but I think they may have defi tokens on their on their platform maybe. I don't know but that's not that's not defy platform. They're completely centralized. They are, they've told you that you know who's in control and that's what I said. I was like we all use centralized tech, we're on the computer right now, we're on zoom. You know I mean like you have a iphone so there's nothing bad. You just gotta trust who the ceo is in the company so that's all good there. I wanted to show the uh the Gemini twins concert but probably not. I can't find it right now.

I told you we get alone and don't don't do them like that. They ever get on our nerves were put there. We got our nerves were gonna say nothing bad. We're just starting to show how the concert

plan.

Was that the song they were singing.

Hilarious

brian king said t goc pulling people's crypto cards all year. No, I'm definitely m uh Yeah I am. I am. I am self regulation has to start somewhere. It has to start somewhere. People I mean? It's that simple like when we get it wrong, call us out like again. Um we're good with that. We said before the new content creators. Hopefully we get we say something, they disagree with they call us on their shows like cool, that is what self regulation looks like. Uh Let's see. Alright, other than I'm gonna try to go through some last time you see any good comments that these things are rolling through

past, but now I think that's enough for today.

No J. J. Wentworth. I know you're lying jail. Said three arrows. Capital was deejaying, buying hex. What the hell did you think was gonna happen? I'm not believing that, but if that is true, they might have bought that ship at like 30 40 cents four cents right now.

Yeah. Yeah,

that is crazy. Yeah, that happened. That's crazy. All right. Other than that, that's the show we went on 30 minutes longer than what we planned to. Again, we had a whole show for a bit boy and my fault. I did say Bitcoin being that's a totally different person as well. So hopefully I didn't conflate the two. You all know the difference. But other than that, make sure you smash that like and share. I'm looking at the last comment. I think everybody for the most part uh tune in tomorrow for Bitcoin friday.

Damn. Today. Feel like a Bitcoin friday. Hey, make sure we got at least 3 350 likes or something on this video so we can come back tomorrow when I wake up early and this thing is lacking and I'm not gonna be a liking. I don't know that didn't work out. I tried smashing like and share. We see you all tomorrow, cheers,

cheers.

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