Crypto Bailouts? & Celsius Token Survives | TGOC - Transcripts
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. We are live Good morning, crypto worries and welcome back to jim in the crypto episode 671 today is Tuesday and Wednesday june 22nd 2022 I'm king here to bridge the gap between the community and crypto every day monday through friday at 10 ish and today is a tennis day Bitcoins, they were still having some technical difficulties. So we're gonna run this show today and we will see him back on tomorrow. Top stories of the day. Sec s Hester pierce opposes crypto bailouts bank for international settlements warrants. The dangers of crypto are materializing Celsius token again, I mentioned yesterday rises 300% in one week amid a Gamestop like short squeeze event and of course debate requires N. F. T marketplace known origin for undisclosed amount that and more. But first and foremost of course we're gonna be talking prices as I pull up this chat as well. I can see the chat loading up much appreciated likes. Make sure you smash those likes and shares as you actually enter the chat. So thank you for that.
And here we go. Let me bring it up as well. Right now. I'm trying to do many things as once again zoom was down yesterday, not sure what's going on. I think I had to do the cloud fair thing so it's kind of slow today but it looks like it's at least working. So there it is. Okay. What's going on? Blockchain, Bully, Hassan, Riendeau like Denzel, timothy, Grigsby, Michael, Kennedy. Who else we got in here. Bill split chemo and crypto. Fan heavy productions.
Good morning, Good morning, Good morning. Let's go ahead and take a look at these prices. What are we working with today? Bitcoin coming in at $20,683 down. 3.92% of them at $1109 down 5.85%. Number five we have B and B at $217 down. 3.8% Cardona at number seven at 47. Sit down 6.51. They probably have a bigger dip of course because the news was just released that they're delaying a launch of one of their uh I don't know one of their upgrades are doing, they delayed another month. We got ripple at number eight at 32 sent down 2.48% Salon A at nine at $36 down. 5.66% And those coin at 0.6 sent down 4.95% I would say for the most part, everything is about 3% down the ones who have a couple extra percentage points. You talk about Salon, a lot of money has been moved from the wells of those wallets.
Those coin of course is going through this whole lawsuit. Elon musk right now our people are trying to assume or something. I don't know. Uh, then card. Oh no, of course. As I just mentioned, they have some type of update being delayed a month. So when you look at that, those are like the extra percentage points, you can see there being reflected there where it's like almost everything else is about 2 to 3% on average going down for some of the bigger ones throughout the top 100 list. Bitcoin cash at 2.27 for those who love that one. So uh, check it out. All right. I got to talk about the biggest game is almost forgot it. Oh, they switched it recently added.
Hold on. We got trending recently added they took off the biggest gainers. Look, they're like, that's probably pretty bad to have. I don't know. Let's see what is trending. Tara Classic is trending. They're down 3.82% of course Celsius is trending down 22% when we talk about them and Bitcoin is always trending. Our top story of the day. SCC's Hester pearce opposes crypto bailouts looks like SBF didn't get the memo. As this article says, let's go ahead and get it
Let's get the day started, right, what's going on Warriors. Let me make sure you can see the Btc shout Antonio for the hoodies of course as well, I gotta rock the white one again. I like that, that, that white one is super crispy Commissioner made it clear she does not support bailouts for anyone in the crypto industry arguing it's better to let these things play out. I fully agree with her on this one. The United States Securities and Exchange Commission Commissioner Hester Pierce has spoken out against crypto company bailouts arguing is better to let these things play out to create a more sustainable industry. Uh, they're calling her the most pro crypto commissioner at least outwardly for sure. She's been quoted saying when things are a bit harder in the market, you discover who's actually building something that might last for the longer term. Uh, and what's going to pass away might last for the long, longer term and what is going to pass away. Excuse me. The Commissioner made it clear that she did not support bailouts for anyone in crypto industry, particularly those that mismanaged risk and became over leveraged crypto does not have a bailout mechanism. She says, I don't want to come in and say that we're going to try to figure out a way to bail you out if you don't have the authority to do it. But even if we did I would I would I would not want to use that authority.
She said that twice, it's not me misquoting it, we really need to let these things play out. And again I'm with that um you know we've been saying self regulation for the longest. And to me this sounds like self regulation. So I'm kind of also in the like the mindset where if the sec commissioner saying let these things play out, we're not gonna bail you out. You also shouldn't be trying to regulate the market either at the same time, you can't regulate the market. And then through your regulation of the company fails or a large piece of the market drops in the capital, you know outflows in different directions because that company's failure to see because of regulation uh then actually a bailout would be due. So I'm with you as far as no bailouts, but no formal regulation at all at this point because like you said these things need to play out and this is giving everyone a fair opportunity to let the strong companies survive the ones who are gonna be here for the long longer term as you said uh play out and then the ones who are gonna be here, this is the opportunity for them to go away. So I'm actually with Hester pierce on this one, I think, I hope that they can actually execute this and their enforcement as well as just uh, and some off the cuff comments, but of course we'll see how highly doubt that happens because crypto is worth too much money for that to happen. But it looks like a few other people get in on this F. T. X. And Alameda research founder, Sound Bank man freed.
Of course, uh huge salon, a proponent is taking a different approach and it has been stepping in direct crypto companies struggling due to the market crash. But even still, uh, this is to me, um, you know, they're talking about this $250 million injection he did to block by, uh, through a revolving credit facility to booster there, bolster their balance sheets and strengthen the platform. But um, in general, that's self regulation. Still, he isn't the government doing it. So, um, this is a little bit different as far as comparing the two, I think, but I think it is pretty cool to see other crypto companies bail out and save other crypto companies again, that self regulation, and we're showing everyone a broader skill that, hey, we don't need formal oversight. There's other companies here to provide that oversight as well. Uh, let's see, also going into this article, one of the things that mentioned, uh, let's see pierce argued, however, that the downturn can be a valuable learning opportunity for market participants and regulators to see how the market moves in times of stress. Again, this is what we're talking about, where If you're a stakeholder in the project for one there shouldn't be too much stress from you from a value perspective. If anything you're gonna discount on your project, if the price has went down because you're like, all right, the technology makes sense, right? Everybody's a cheerleader for a project, They're going to change the world. They're gonna save energy. The babies will get kisses on the foreheads and everyone will be fed across the world, right?
Like the there will be nothing that happens in peace if your project wins. I understand. But um, if that's the case, then you shouldn't worry when the prices down, like times like this. So that's why I usually, a lot of people aren't stressing who've been in the market for a while and they see these things because they're just like, it's just time, This is when you're dollar cost average more into whatever project you're actually interested in. But uh and then on flip side, as we always say, this is the time to learn when the market is slow and the market is down, this is the time to learn, figure out what new projects you like with new protocols you like take a master class and not are someone else's hop on crypto advantage. They have tons of free resources, but learn about the space so that when the market does return you can make better decisions during the next bull run. Alright, what else is going on in the chat? What's up chat? Let me see, let me see. Uh Real talk. Thanks for the tip. Can you explain what Voyager is?
You can buy crypto but no withdrawal functions so I'm not on it. But here let me pull it up just for a quick moment. Uh That is more discord. We can go into detail on that, but let me just pull it up and take a quick peek. Let me see what else is going on the chat. Reno gamble. What's going on, whistle tone local, T. X. Uh Tony Noli said capitalism is survival of the fittest. That's right. Wendy. Nichols was going on too much for you.
Okay. Hey, uh see City Boys say you can withdraw on Voyager. The Ui just sucks a bit. Okay, so that's what it is. Uh 11 super Mario. So I'm a fan of bartering huge. Hey, 11 super Mario. You say you're gonna come up uh with a goat and two chickens. But look man, I just need enough gas to get back to a minute. Now it's messing with you. That's what's going on jake fever. Where did sam get all that money from?
And if everyone is getting liquidated, who are they selling to? That's a good point and that's the point about the market where we're not really sure where it's gonna go because in the background. Oh yeah. Speaking of Voyager. Okay. Yeah, I get why you brought him up. Yeah. Speaking of Voyager, uh speaking of three arrows, capital. Speaking of some of these companies who may begin liquidated or who may have been in the background, kind of um providing capital to different companies are making markets like Now, all of a sudden we're starting to see who they were partners with, who they are selling to where the money is being lost. That so that is something to take a peek at bank for international settlements warrants, dangers of crypto are materializing, just kind of piggybacking off that first story. This is Bitcoin's a's favorite guy here, uh the head banker, Bank of International settlements, augustin Carstens, But uh, they specifically use what's been going on the crypto market of course, kick a dog while it's down, beat a dead horse. Uh they are using what's going on to say, we tried to tell you right specifically in this upcoming annual report, the global central bank body warrant That the recent crypto crash indicated the current material materialization of the predictions about the dangers of decentralized finance.
Reuters reported on June 21, according to the B I. S general manager, Augustine Karstens, the recent crashes of the terrier usd, stable coin and a 70% drop in Bitcoin price. Were the indicators that there was a structural problem within the crypto market structural problem within the crypto market, I'm gonna first show you all something very quick uh this is this is just off the cuff. But to me this is why, you know, even right now sitting at 20,000, I mean what years? It's 20, Right, okay. We're, you know, we're about to go to, you know where I'm going with this right now. Hold on, we're gonna keep this very simple. I love how people have this short term memory. And this is really crazy. These are the people in charge of the planet's money. Like these people are in charge of an overwhelming majority of the planet's financial resources or at least the directions of those resources uh and the people that control those resources like they have a strong pull on that, right? And this is the same people who are telling you like, hey look at the market today.
This is crazy. So because this is Bitcoin $20,742 today. Uh We're gonna go ahead and go to the charts. This is why I love crypto and Bitcoin specifically a there are no various entry and then be you really don't have to deal with people in this space. Like if you don't want to deal with people, you know, there are plenty of people who are just in the shadows uh figuratively and literally but there's like they're, you know, they just work with protocols, they work on the swap. So it's like they don't need people to do anything in this space to onboard off board so on and so forth for the most part. So um in numbers everything is numbers, right? Crypto crypto is about cryptography. There are numbers, bits, zeros and one. So it doesn't matter whether a person like Augustine Carson's for the bank of international settlements or as Bitcoin's a commonly refers to as jiggly puff. It doesn't matter what he says or what they say about uh this being a structural problem within the crypto market because we've seen it so many times before. So this is Bitcoin's chart, His entire chart since its its inception.
So let's go all the way back. Look at that back to 2013. Okay. Uh technically had a dip in. I mean this probably was pretty scary for them. Let's go ahead and zoom in on this one when his first major dips. I mean that's pretty incredible right here. When you look at the price For the first time ever going from $100 essentially uh to $1,000 for the first time in 2013, late 2013, That was a huge dip. People that dip back to uh We're looking at $500. from about $1200. Almost like that's a huge and scary dip for people uh it would later that year ago or excuse me next year, beginning next year, it went up to about 900 then a dip back down to 400 eventually more dip. Excuse me a further dip to about 200 200 200 200 2016 is when I kind of entered the scene here.
So let's see. We're looking at. Yeah that's about right. Sub 403 100 something. 400 bucks. I remember those days. So 2016 we get all the way up at the beginning of 2017 to 1000. Which no one expected to be honest. Like when I tell you no one no one expected $1000 at 2017. Uh And then In 2017 the highest prediction was like $5,000. But hey we will go up to 20,000 of course. So we shoot up to our 20 K.
Mark. Where we had up here. I'm looking at this uh I need to zoom out there. We gotta zoom out some, We shoot up to our 20 k. mark. Boom early late 2017 we hit 20 K. And would you look at that dip people, we entered a bear market 14 K. A month later. Um Like not even a month later. Like a week later type of deal 11 K. After that. Uh And then down to, it is a six K.
Uh in february 2018. So from 20 K. To six K. People that's over 50%. And then of course from there we know when Kobe hit, we went there there it is, we went down to $3000. Uh, you can see that here. 3200 bucks. And let's go ahead and zoom back out From $3200. Time goes on. Let's see. You can't even tell you zoom. All right.
This is a 32. That's not even 30 200. Yeah, there is no $3,200 mark was somewhere in there. But my point is people we went up to 66,000 70,000 almost. And here we are again Back at 20. Like it's not a big deal. And honestly, three years ago at this time, was it? Uh, say 2019. Yeah. Look at this people in 2019. The price was $9,000. Okay.
We went from $9,000 3 years ago to 20,000 right now. It is fine. This is still a great three year hold, it's not financial advice. But if you look at a 3-5 year chart and compared to other assets out there, this is very like for the people who are just going investment crazy over it. It's still a good hole from a technological point of view, the technology still works. The code still works. The change still works. Everything's happening the way it's supposed to happen. So, uh, we don't need to really listen to bank for international settlements. I don't think there's a structural problem within the market, I think this is just when, what we see in new markets. Right? Again, we compared it to like fighting when mm a started and UFC became big.
You can compare it to any industry you want, as soon as the industry begins, there's going to be a ton of mess you have to clean out. That's all that's happening now. Uh, and a lot of that messes education to its on the consumer side. Uh, it's not having the majority of the market, 80-90% of the market, believing all the hype, All the buzzwords are the next big thing. It's about that percentage of the market saying, no, no, this looks like, you know, something else. And then that's when we'll start seeing it get condensed and hopefully we'll get back to at least just a few 1000 different Cryptocurrency projects versus, You know, 18,000 plus at this point, 19,000. Like that's absurd. But it has to happen. So we can find the best and the worst from each project. And uh, and start to intermingle oh, uh emerge all those things to make a like, one big project. So, uh, interesting to see. But what's even more important people is why is the Bank of international settlements even talking about Bitcoin the crypto market, right?
It was so unimportant. They even actually pointed out in the article, they were like, hey, we're not saying this will be the thing to end the next economic crisis. Actually, wanna pull that part of that was actually an important part of this article. Um They did make mention, they're like, uh hold on, I want to make sure we talk about this. Uh because I think that was pretty fair of them to uh to kind of make sure that was clear. Uh First he said, uh no form of money can have credibility unless it's controlled by a government back authority. Y'all know how I feel about that, that can use reserves funded by taxes. Again, you really want another human to have all of our tax money uh and be able to allow it to do whatever they want with it. We saw this go bed multiple times in recent history. Uh most notably of course in 2000 and 2008 financial crash, where we bailed banks out using taxpayer money and then shortly before that, around the same time, actually we bailed out the big three car companies in Detroit michigan I think all these weaknesses that were pointed out before have pretty much materialized. You just cannot divide gravity at some point. You have to face the music.
So of course, I definitely disagree with that. But here's a paragraph. I want to highlight the B. I. S. Chief also said that the crypto crash was not expected to lead to a systemic crisis in the same way that bad loans triggered the global financial collapse. However, he did highlight that it would lead to substantial losses. Um Again, here's him saying based on what we know, uh, it should be quite manageable, but there are a lot of things we don't know. So I just wanted to point this out as well because we always say you should be using discretionary income anyway. Like literally people, if you're dollar cost averaging, if you're using discretionary income, no matter how large or small that number is, then even if this thing did collapse and go belly up at this point, it was a great technological project and you should not have lost your shirt over it. Um, but now on the flip side, if you're one of those people who are like, no, I'm actually building in this space, I'm 100% of businesses going then hey, I understand it. Like you throw the house at it, right?
But by and large, the average person, this should be discretionary. So you shouldn't even be losing the house A and then b like literally bad loans, as they called it. Like that's a very innocent way to paint the picture of what happened with the 2000 and eight economic crisis and collapse, whatever you call it. That is a very innocent way to paint it. Bad loans, but regardless, let's just say no one's to blame. But the bad loans were to blame. These loans just popped about the blue, like smart contracts. But uh, he said, like bad loans triggered a financial collapse. People the entire planet felt the impact of that and he's even highlighting that if the crypto market does the same thing, it will be nowhere near as bad. So already they're admitting like it's not that bad like, but at the same time we need to protect you and warn you about all this stuff again. Like Bitcoins, they said uh if you don't like her, why do you keep talking about it? Right?
They sound like they are talking about their bitter ex girlfriend or boyfriend whatever. Uh and it's just like this person has moved on with their life. Like why can you not do the same? And it's crazy uh Bitcoin but Bitcoin but Bitcoin, let's see what we got going on in the comments section. Now we got some good comments uh staying the chat chat is lit right now. What's going on chat? Uh texas mike, all of this is manipulated. It started when they allowed to spot futures market on Bitcoin once they allow cash market is on texas mike, I agree with you. We used to say say the same thing back in the day. I didn't think it was gonna be possible as much though. Uh when I think it was CMO or semi cibo cmi came out when their ceo is like we're gonna tame this market and I was like, yeah right? Like good luck.
But it was like at that time they actually made the price dips. So you're right. I think those capital injections from different parts of the world there are they're actually taken away from the market not necessarily manipulating it in a terrible way. They're just taking capital away because if there wasn't all these spot markets futures and uh now they're trying to do different types of E. T. S if there wasn't all these things then all that would be back in the Bitcoin. I mean there are people who have synthetic Bitcoin and don't have Bitcoin like that is capital outside of the primary Bitcoin network. Uh So no I'm with you like to me all of that kind of manipulates the price a bit when you're looking from usd perspective. Uh See have they discussed how Russia is creating its own Blockchain so they don't have to use swift. We talked about it before but everyone's gonna try to do that. Like J. P.
Morgan's trying to do with the corn Blockchain. Um There's a ton of people trying to do it so um I don't think it's really gonna work like that honestly like maybe in china where they already have a strangle or they already they already have a stranglehold on the population. Maybe there you can like do their own uh internal thing that works because everybody's kind of down with it but everywhere else. I'm not sure how how easily adoptable it will be, let's see what else we got going on, what's going on, Alex G. Mr lima's dot sav gaming clips uh do do do do what else we have? Uh boom, there needs to be a better criteria for listing some of these points on major exchanges, decided by the exchanges of themselves. Of course. Yeah, it's crazy. I mean it used to be like, it used to be a thing where it was, it was almost an honor to be listed on certain exchange and they weren't just listing things like crazy and they still had to pay a lot of money, but then of course um I think The money grab went crazy was like why just get $5 million $1 million 30 million from 30 new tokens a uh and then be I think fundamentally the market shifted that way. Everybody thinks their projects the best. Again, this is what it's like, it's kind of actually tough to call out a scam versus a brand new project is like, do you give them a chance to grow or are they already a scam type of deal? Um and for exchange, you're kind of playing God in that sense for their business like No, you're not real.
So I won't list you, it's like, well how do you know, they don't have a chance to get listed, get working capital and execute their plans, so that's a double s sort um and then last but not least I think actually the bear markets where you see money and capital flow out of this mark out of this entire ecosystem, out of this economy. The crypto economy of course. Um I think that's when you'll start, that's when we start seeing more coins that add to exchanges because now they're like it doesn't cost a million dollars. Maybe it just costs 500 K. Maybe it costs 250 K. It's a bear market. They're taking whatever money they can so that kind of added to it as well. Alright. It looks like I'm freezing some reason I'm not sure why but who knows uh Let's see J. Peter thanks for the tip. Seven. Bitcoin back at an all time high is 500 K.
That will cost 100 and 40 K. Today 100 ethereum at all time. High uh Is 500 K. It's 100 K. Today. 142,000. Why'd you have to go to cardinal? You all love to stuff a shell in there and I was messing with you. J. 142,000 Cardona at all time. Highs 500 K. And it cost $67,000 a day.
So if you want to go back that's what we used to talk about best all coins. We buy that series when we first started the show we did start with like all coins to get start interest for Bitcoin and everything. But um that's what we used to point out it was just like hey like at these price points with some of these projects it's funny because some of them have damn near returned to those price points now they haven't went that low but um it's like if you believe in the project itself these are huge discounts. So um that's the same with like the theory of validators people um you know ethereum is moving over to proof of state which essentially you won't be mining anymore, it won't take different notes essentially you buy validators, you by your nose wherever I think you have to have 30 to become like a theory invalidate or something. Don't quote me on that. But if we set 100 ethereum right now is 100 K. Is that what it is 100 times 100 K. So it costs $32,000 right now to become a theory and validator. And for those who know that means essentially you will always um help run the entire ethereum ecosystem. Its its entire Blockchain, everything involved with it. It's the same as like proof of mining. Use different notes to mine solve all these hard algorithmic problems but with a validator is just essentially you become a part of the network already by having one of these validators so you kind of have to buy into it or stack state X.
Y. Z into it by having 32 ethereum, correct me and Chatham. I'm wrong. Uh And then from there you are always a part of that network. You always get paid on every transaction I believe. So that's $32,000 a day. Then those price points are right. That's kind of crazy when you think about it again, if you believe in these projects and I mean I spent, man, I'm about to be sick actually thinking about where I could actually got to validate at some point. I didn't listen this market aint a DJ in life over here people or ethereum classic become proof of stake after the merger. Good point. But I think it's going to actually stay as it is. That's why it's classic.
But I haven't been keeping up with that project. Alright. As you can see here at Celsius token Celsius token. We talked about this yesterday just briefly, it rose 300% in one week. Although it's already dipped but the crypto lending platforms, insolvency risk. But Celsius price at a risk of 70% drop. It spun in this article article came out a couple of days ago and already dropped about 2030% at least. But looks like the price of Associates. The native token of the C Network has almost quadrupled since June 19. And what appears to be a frenzy stirred up by day traders of course it rose from 67 cents on june 19th two a dollar 59 on june 21st 180% spike compared to the crypto markets 12.37% rise in the same period. So again, couple things I wanna point out first and foremost, this is why I love this market low to no barrier entry and your average joe, your average guy or gal whatever man, woman, male, female, whatever the average human being, no matter what your age is, what you look like, Physical capabilities, any of that, as long as you have your own value that you can add to a platform, there's a possibility of you changing that value from where it's at that moment to 180% more in two days, that is absolutely insane Now to be fair. And you know, to make sure I got to tell you guys both sides, I can't just give you one side of it on the flip side.
If you don't know what you're doing. You notice they said day traders, okay, day traders, this is who you're up against. This makes let me make sure this is super Clear. Here it is. This is a frenzy stirred up by day traders every day, this is their full time job. This is the profession, their career. So if you're trying to play that game. Uh, if you're not taking a few days off work and know what you're doing the chances of you making it 108% aren't gonna be high. Also with that being said, you know, I'm giving you every side as I always tell people like stop being greedy, you know if you are into one of these things and you 15 20% 30% in 48 hours, get out, get out, you should put in more if you wanted more like whatever like you had your discretionary income, you went up 30% 40 50 start to uh take profit uh and leave your and just leave the house money on the table right? If you want to leave whatever just left like alright I took profit and my you know, initial capital like I'm good to go then yeah go crazy with that and run it up, but like don't like you don't need 100 and 80% in two days, like get the 30% that's crazy. 30% crazy. I can't believe I'm saying get the 30% you know like get the 10% like this is crazy, but um and then also the second thing you have to warn you about as well is that oftentimes when this happens, Another reason why it actually happens because there's bots of course in the back end uh or they're executing trades, buys and sales and then also on the different platforms and exchanges, they could temporarily disabled to buy and sell uh of these tokens, so let's say you do get in at the right time where you think you're about to get out the right time.
You might not be able to sell over the drawer by vice versa. So that is the other thing about these short squeezes, but I don't want to take a quick peek at this price. So again, uh, it looks like it's at a dollar. Um, the 24 hour clock already had, what is it recycled or whatever it already restarted. But I believe I saw it at about 20% down. So let me go to, uh, alright. That is a, that is a dip. Now they have many dips, but goodness gracious. 10cent. It used to be went from 10cent, Uh, to sweat $8. That's, I mean, that's a great ride. Uh, and it's back at the dollar.
So again, you believe in it. You believe in it. Let's take a peek. I think if they're saved, they'll be, again, it's to me, it's the same as terror almost in the sense of the proof of concept, they have a community, they've shown that they can attract volume. Um, so it's about, does the company want to come in and really save them? But on the flip side, I think companies might wise up and say, why save you, we just go through some regulatory hurdles and do the exact same thing, But I don't think those regulatory hurdles would be as easy as some companies think. So, who knows? All right. So we see on the 19th, uh, wow, that was a nice little nice little pump. That was a nice little pump. Uh, 60 cents. You can see here 61 cent All the way up to the dollar 50 mark, almost a dollar 60.
And then, yes, we're back at a dollar. So it looks like you already missed the pump. But again, if you believe in a long term, you're looking at a dollar And looking at that all time chart, what year was this? This is in 21? I don't know. I don't know. A lot of interesting projects. The way I look at projects, there's so many interesting projects in this space. Even if they do make it out looking at impending regulation. Um, and not just regulation on the entire lending landscape of crypto, but regulation on Celsius specifically since they publicly dropped the ball now, like now the vultures are, are, are flying like they're circling. Right? So my thing is, would I risk capital In a project that can only seven necks in the short term at best.
And I say that because I'm looking at his last all time high from 2021, unless they come up with some new protocol or something that just some new partnership just so crazy walk to earn there it is. Right, Whatever it is shouting Bitcoins or whatever it is they come up with, that's just so novel. If that doesn't happen at best, you're looking at seven X. Which is still amazing, right? But also at the rate it will take for it to get there. Uh And some of the things that may strengthen it. I eat a stronger Bitcoin market to me. It's just like, well I might as well just put my capital in the Bitcoin or into another uh smaller. I mean, hey listen, I'm a real DJ in a dollar. What? That's expensive. Y'all talking about Bitcoin expensive.
A dollar is expensive. All right. Um We need to bring back crap Topia so we can get these uh shit coin casino rolling because I don't like paying more than a penny from my all coins. Alright. Like you start talking to penny eight cent. Hold on, you're starting 10 cents. Wait, did I just see a number after the decimal? Listen Too rich for my blood. All right. I like that. Good .008. That's the type of sense.
I like I like that less than a penny. Uh and now you have my interest. So um and I joke but also seriously say that because those are the ones where as discretionary income, it doesn't literally cost anything for the most part. Um And if you actually follow some of the teams and the projects X, Y. And Z. S. Uh Sometimes those are the ones that again, I'm looking at time frames because I'm trying to roll everything back into more Bitcoin specifically. So I'm looking at the time it would take for Celsius to get back to that $7 versus this terrible coin over here that has this excited community and blah blah blah pop whatever. So it's just like I'd rather take the risk on the flip side versus than than waiting holding and waiting as Celsius or something. But that's my take let me know what you think. Of course in the comments. Uh Let's see.
Looks like the chat has spoken. Uh Reno gamble said I'm a DJ with standards. Uh Say I'm not lying or you already know it. Yes. Ryan James says sell S. E. L. L. C. S. Let's see. He then said he liked them.
Launchpad prices. Exactly listen I like the prices when uh as soon as people signed that contract I want the ink to dry I'm like yeah we just brought some so developer on board. Oh my goodness hilarious. Let's see who else we got. Uh. P. Coin is still at 0.24. There we go. Listen $5 go. Crazy people. But seriously I joke with that. But also it's one of those things where that's the best way to learn the market people like for people who are actually trying to trade and stuff like not financial advice of course.
But I'm not even scared saying it when it comes to like 10 to 20 bucks. I don't even know what exchanges do anymore. It used to be crypto P. A. For real. But uh since they disappear, I don't even know the main exchange is actually more swaps, anything. Most of mine are actually swaps. Um And on the quote unquote defy side of the house. Um But yes, you know, you research new coins, you find new coins, 10 20 bucks. It's not about making money as much as it is about being right? And what I mean is start trading those coins, start looking at the charts of those coins, things that don't make sense. They start looking at the project how much capital they have.
What's the market cap? Who's the team? Start looking at all those little things from those smaller projects and see what happens with them. I kind of guessed. But you're not actually ghost trading, you're actually using real 10 bucks, five bucks because these things again are way less than a penny. Um And then you can actually learn, you educate yourself and that. Uh and sometimes with those same projects, you see these people bounce around to different things on new teams, you can get to know the people in the space. But Again, that's like a low something I like about the markets, a low barrier entry thing where it's literally I'm spending 10 or 20 bucks. I'm getting lost into an entire world. Uh Economics essentially. It's just a different type. Right?
We're just looking at crypto versus the traditional sector, but it teaches you so many different things. All right, jay fever. Thanks for the tip. Just wanted to point out the price of freedom if you believe in your project and freedom for your money where your mouth is? That is very true. That is very true. Let's see what else we have. Chemo. Crypto said twitter was all about talking about a short squeezes for Celsius, yep. I'm sure as a was I think he mentioned the other day as well, Kendra said, I'm buying polygon. The market crashes more. All about polygons.
Shout to marlin who covers that on the weekends also. Uh let's see. Yes, it's listen it's been chilling L. A. We had our first like summer day, yesterday day before actually our second one. But it's been pretty chilly here as well stack what's going on, stackers in the child. Make sure you catch these gentlemen out tomorrow. They'll be back again stacks that they will probably come up with something else. For sure. These people cannot get enough. Right. I think they'll come up with something as well.
Uh somebody said does 2.005 cent. Those were the days like those. I mean, I can't remember how many zeros those used to have. Let's see who said 900 K. To 10-K. I'm not sure which one that is. Uh let's see. 900 to 10,000 0. C. Those are dreams people. You can't count on that to happen though. That happens shout out but you can't count on local T.
X. Remember when you're playing in penny all coins you're just the victims that the Wolf of Wall street is looking for. The exchanges make them money regardless if you win or lose. It's very true and that's exactly what I said. Like 10 to 20 bucks max people like I was not going crazy but also on the flip side again Uh does coin like you can say what you want with those coin. The community rallied behind it because of course of course a couple of billionaires but um and people have always liked it but literally look at some of those does coin prices from 2016 people like 27 2017 people starting to pump it but 2017 It was like it was ridiculous. It's like Zeros zero. So Same with ripple, I remember ripples .008 or something like that. Something crazy like that. So it's been a few. I mean shit neo um for those who remember that's the one that always makes me sick. I remember when aunt coin I believe it was was 25 cents.
But I remember Aunt coin before that was even like crazy or it was like super low way below a penny or whatever. Uh And then when the Neo rebrand happened you literally watched it go from like 25 cents essentially to $81 within a year. So. Yes and no which is why I specifically said projects like you have to actually be researching and doing your due diligence. You shouldn't just be, oh so and so it was like you know 0000 out and he's like yeah it's probably for a good reason but if it's this is zeroed out and this guy um was a instructor at M. I. T. And already created two different projects in different fields that have been successful and this is what he's doing in crypto all of a sudden or she or whatever. Then it's like This is 00000, looks a little bit different than the other one so you gotta do your research with it for sure for sure and it is a double edged sword. Uh here's the flip on that too specifically if you're on these exchanges that's why the swaps are a little bit better swapping straight into it. But if you are on an exchange um they could just like let's say you're 900 does go to 10,000, they could just be like oh you're not getting it like good luck, you know what country we in. Alright didn't think so like you have a phone number and like they could literally good luck you and that could happen as well.
So uh I mean this is the Wild West, this is definitely the Wild West. Uh Let's see STL solo said my first year in crypto has been fun. I took a haircut on profits but I'm still up. I love that you can put $30 in the ship coin for it to shoot up to a stem me overnight. And that's the only thing people again, I'm wearing the Btc hoodie, I'm about Bitcoin, I love it. I think this is the strongest and the best project in the space period. Um and I think a lot of things that can, that can be built on it just haven't been out just really because almost laziness. Um but I will say I love the options, The fact that again the average human being has the option to put $30 into the ship coin fine. Like I go to Vegas, I go to casinos, I like gambling. I don't want someone to remember the first time I realized I had a limit on my debit card. I'm like, what? Why are you telling me like how much money I can pull out of my debit card and they allow me to raise my limit, but it's still like why are they telling me how much I can pull off my debit card?
It's crazy to me. And I say that because in Vegas when you're on a bender at three a.m. You're not trying to like, no you're not trying to have another human being, you don't know tell you why you can't get your money, you're like no, I want my money and I want it now. Like I'm trying to blow through all this stuff. Okay? But I've had those moments seriously and I've had them again. I'm gonna have them again. Like that's just who I am, that's fun to me sometimes. Um But I have the choice to do it. I don't want someone to be there and be like, no, you ain't allowed to take no more of your own money out and go gamble. Like why not? That's what I wanna do bro.
Like let me let me be me. So again, I don't advise it. I don't think you should. Uh There's solid projects in this space, but if you're gonna dejan, like let people Dejan um especially if you're looking at like a 15 year old or something, You know, 13 year old who has literally like disposable income, like whatever, they're paying bills or something. Like I remember back in the day, I used to work fast food. I would love to put a couple of bucks here and there on some like crypto platforms. Are you crazy? Like that's crazy. I would love the opportunity for that. Let's see what else we have on the chat said, let me be great. You know it, hold on, let me see. Um I just like saying that because usually that is what happens now.
Sometimes listen, sometimes you are the hero at the craps table when everyone is going to the club. All right, it's all types of stuff. Let's see, what else do we have Reno Gamble said, turns out that's a good amount of money end up getting nice return. Uh, Jake fever said, Kings financial epiphanies are so damn funny. Debit card limits to credit score. Listen, that's what I'm saying, people don't even know it was a real beef. It was a real credit card beef. It wasn't like, it wasn't over money, it was over principle respect and then then it became over money out of principle and respect. But a lot of funny stuff, a lot of fun. Last story, but at least, you know, I always go long. Ebay acquires N. F.
T. Marketplace known Origin for undisclosed amount. The move comes one month after Ebay released his debut collections of N. F. T. S. Uh, I thought this is pretty cool. Uh, as E commerce giant Ebay continues pushing the digital collectibles by acquiring UK based non fungible token marketplace. Known Origin according to a press release on Wednesday terms of the acquisition were not disclosed. Known Origin was found in 2018 has facilitated $7.8 million in trade volumes is launch. Uh, isn't actually that much, but that's pretty cool, depends on how much the average M. T.
S are with acquisition, we remain the leading site as our community is increasingly adding digital collectibles, said Jamie. Uh, Iron Non Ceo of Ebay in his statement and last month, Ebay released his debut collection. MTs in partnership with Tezo's and polygon based in FT platform, One of it began selling n. m. T.S. in 2021. Um, and I think it's pretty cool because this is something that I think is gonna catch a lot of the market, I'll guard a little bit and that's, we keep thinking there's gonna be new companies to take over everything. Like what's gonna be the new google, what's gonna be new song? So let's not forget that these are four thinking companies that already operate in the digital landscape, especially Ebay, like there's no brick and mortar Ebay's Ebay's online, They've been online buddy knows them to be online. Right? So I think we'll start seeing more of this. Like, instead of seeing the new google, we might see google just invest in the killer company or whatever or buy it over, you know, merge takeover.
Like tell me a google comes knocking at your door to check. You're gonna say no, I'm keeping my company, I'm gonna build it ground up. Like you can, but I don't know, I'm one of those people, like you only got one idea, like take the check and go do another ideal. Right? So, um, yeah, maybe we'll see google turn into the crypto company of the Future by literally leveraging their traditional resources with the new one. So that's what Ebay is essentially doing. They, they came out with a series of N. F. T. S. And then I think they eventually like, you know, got so interested in the market like, hey, why are we letting someone else distribute these things? Let's just do it all ourselves.
And I think this goes hand in hand with their business model already, people already like to go to Ebay to sell and swap things that they have. So why not do it with your N. F. T. S. This is pretty cool to see, I mean, do we see a Ebay or N. F. T. Type of app app on the horizon where you can swap your crypto in it, swap your N. M. T. In it?
Uh and also by some, you know, shoes where I would say the new jordans, I know a lot of people love them, but can you do all these things all that one time and one platform. So that would be interesting to see a shout out to Ebay and they're paying attention. I just gave them some free game right there. There it is. Alright, that's the show for today. Let me go ahead and check out these comments about the Bitcoin today. Uh Bitcoins in the comments to MT companies selling as soon as possible to funny, let's see Michael Kennedy. Okay, that was the show? S one dubs when Miami hits another exchange. You can expect a pretty big spike Hope so, definitely hopes on that one too. What else do we have? Why doesn't Crown and coke mean Blackjack?
Uh, they're not trying to compete. They buy their asses out. 2nd dean. Listen, why would they compete? Right? If they have a ton of money, just go ahead and give it to them? All right. Other than that, make sure you all smash that. Like and share. I think that's about, I'm looking at the comments, make sure I'm not missing anything. Uh, they're laughing at my hero at the craps table. True story people, I've been a hero at the craps table a few times before.
And with that, I will leave your mind to wander, smash that like a share and we will see you all tomorrow tomorrow. Crypto. News cheers.