Will Voyager Crash the Crypto Market & Instagram NFTs | TGOC - Transcripts
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we are alive. Good morning Reuters and welcome back to jim in the crypto episode 672. Today is thursday june 23rd 2022 I'm king.
No big points they get to bridge the gap between Cryptocurrency and the community Monday through Friday at 10 ISH.
Yeah bro it's not like you're talking through a cup right now or
Tennis Day Top Stories. Voyager enters into $500 million dollar loan agreement with Maeda um At three A. C. Exposure F. T. X. And other crypto firms ditch sports deals as market collapses medicine to begin testing N. F. T. S on instagram stories with spark a our coin based to shut down coin based pro to merge trading services and University of Cincinnati turning crypto craze into educational curriculum but first and foremost what is going on with those prices.
Oh yeah so taking a look at our prices today. Let's share this screen really quick. Bitcoins at $20,446 down .5% ethereum at $1,106 down .1% been in coin at 2 24 is up 2.3%. Giordano at 46 cent is down 1.9% X. RP sitting at 32 cent is up 320.15% today. To Lana sitting at 36 40 is 1 19 and last but not least. Doge coin at six cent is down 60.8% and our biggest game is for the day. They actually don't show those anymore. But recently added joystick games, crypto sandwiches and can pay wow that is hilarious. We got crypto sandwiches so those are recently added for today and of course trending Celsius Terror Classic and Bitcoin which have all three been talked about the most in the news this past week.
Yeah I realized s a took off the top gainers. That was that was pretty fun. I
probably did it because people probably into those projects and they realize how
to say it. Yeah I think they're probably like this is a good way to get under sec. S microscope. So it was weird that they took that off. That was pretty cool to always add those on there. So interesting that he took it all but I'm pretty sure like more than likely recently added are probably top gainers to at this point. We were like I wonder just actually click on it. See because usually if it's recently added then it's a lot of Vol to go into but nope guess not. This is down .61 so it doesn't mean that interesting. Very new stuff, new stuff really quick. Wanna give some shout outs to the chat chats lit right now already 70 people just jumped in 42 like just make sure you smash that like on the way in what's going on. Michael, Kennedy, finn, ross shoe, timothy Brisby 11 super Mario J Damon king, patrick, walter, Wendy, Nichol's tomorrow West G man BK born best iron raised Junior Maley.
Let's see what's going. Marlin says they got that they got that can and string mike right now. Hilarious. Exactly, that's what I'm
Right 11 Super Mario said called that Reggie Middleton video from yesterday. Pretty informative. You I caught a lot of that too. That was a pretty informative video as well. Let's see, we want to decentralize network for constant delivery. We're looking at the data. We have, we looked at the data before. Data is mostly for games right now for gaming and also at the moment you have to question this decentralization. I know they're working towards that but for sure shot the theta top story today. You all made mention of it yesterday actually and last week a couple of times and this is what you're talking about, where it's like alright the next step of where the price of Bitcoin is gonna go, these are the events, the black swan events and the things that make it kind of harder to predict no matter how much T. A. Or fundamental analysis you do at the time because if they go down that will literally uh you know disrupt the entire market will be a curveball.
But Voyager enters a $500 million loan agreement with Alameda amid three A. C. Exposure. That's right. Voyager announced that three arrows capital owes the firm 15,250 Bitcoin and 300 goodness gracious and $350 million in U. S. D. C. A. A. These boys is past due it's time to cut somebody's water off. All right.
That's enough money to start wars right there. Trading platform. Voyager Digital takes a loan from trading firm Alameda Research because of exposure to crypto venture capital firm three year olds capital. And the press release by Voyager Digital, the firm announced that it has borrowed 15,000 Bitcoin from Alameda to cover the losses that came from his exposure to the three A. C. Contagion. Voyager also noted that the company might issue a notice of default to three A. C. If they failed to pay his loans from Voyager. The firm revealed that three A. C. O.
S. Voyager 15,250 Bitcoin and 350 million U. S. D. C. Uh noted they have sent requests for repayment to three A C. Three A C. So they got the repayment request but we're not taking them right now and I'm just kidding says the request involves the $25 million to be paid by this friday or they hit him with the 50 cent. I need my money by monday and payment of the total balance on monday as I just mentioned or faulty as the one guy called him that one time if three A. C. Fails to pay either the amount specified it would be considered an event of default. And this is what I mean people like they do default on this come this friday and monday.
Um I don't know how Voyager is gonna get it like outside alone they're gonna hold someone back to that's a lot of money to owe essentially that's gonna have like a domino effect on the entire market. And this is the crazy thing. This is what we mentioned before. I'm gonna make mention again Voyager three year olds capital uh terra and their foundation luna gar foundation. Who else am I about to put in these? Crosshairs right now basically everyone who has a large pot of money who does not know what they're doing in this space are causing the entire space to collapse right now essentially. I mean from a U. S. D. Value perspective from a Bitcoin and crypto perspective most projects are still safe if you're looking at from that point of view but they're definitely jacking up the market. And I just again, I want to point out this is coming from a few people in charge of pots of money who don't know what they're doing and you mean to tell me you guys want full regulation and you want more people to come in who have more control even bigger posit money and don't know what they're doing. Like this is madness to me but I love pointing it out because these are the same people who try to dictate the market to dictate the narratives and tell you all what crypto is, what Bitcoin is and how to move in this space.
And these are the same people who can't even survive a damn bear market like what is this bear market number three on us like right now what's going on right now? Like they came to bear Mark right now. What are your thoughts about Voyager capital and the possibility of three Hc becoming insolvent to them or um I guess they wouldn't have a liquidity but them becoming insolvent. What are your thoughts on this?
Well my first thought is idiots with money. How many of those do we know out in L. A.
bunch of idiots with money and money means nothing to us. But also to I do want to point out that in crypto hard times create strong men. Strong men create good times, good times create weak men, weak men create hard times. This is weak man creating hard times. These dudes do not, most of them did not go through multiple beer markets back when it was scary, a lot of them were not around at the beginning where it was the drug dealers, Ponzi schemes, Mt Gox Silver road. So you have these people who are using legacy type thinking in a new market and what happens is they over leveraged themselves being greedy and unfortunately they got caught with their pants down and uh of course they need that loan of $500 million. And if they don't have it like you said before and they're in default, who knows how this house of cards will land? Because
time we haven't seen the ripple effect of three A. C. Going down there alone And we haven't seen any of that really yet. Down at the bottom we've seen at the top, we've heard the news, but you haven't seen the crypto market really see uh, you know, see the effects of that other than the price dropping. But you haven't seen a bunch of exchanges go down yet, which could happen. You haven't seen some of the other uh, BC companies and investment firms, they also have a stake in the game. They could be out of here as well, but we won't see the full effect for at least another 30 days. So unfortunate to see, but hopefully they pay it back and if not a gang gang better come and get it, but hey anybody watching uh you're at least smarter than the risk management person at Voyager if you're able to stick to this bear market, trust me, these people are not as hard as you think,
Alex Alex said, it sounds like he is yelling into a can of green beans
like you and I'm gonna get Reggie Hearts, how y'all like the most technologically uh in tune and acute people we know out here and you can't get your laptops and microphones and cameras were come on, man,
I don't know, yeah, I'll be on the road, so it's
but I think it's actually my voice, Oh
you got deeper over the night there, it is, just watering you. Uh Lamar, Lamar West 12 said Dr Boyce Watkins has been pushing a lot of fomo on Bitcoin lately because the bear market pocket watching how much others athletes spent on Bitcoin. So shout out to Dr Boyce Watkins, he's had us on the show a few times just talk Bitcoin and crypto to the audience. Uh so he definitely can't ping him for that because you know, he did seek out. Hey, let me find some people who know what they're talking about for real through and get into it, so I can't hit him that much and I know he does a lot more um what is it? I don't know the word of it, the chatty Cathy type of stuff that dame mentioned, He does a lot more I guess like the pop news articles, the popular popular news and articles are coming out. So
so focusing on people hot topics, news and events and all that good stuff. Uh And I say that because one of the hot topics lately have been all these athletes who spent money on Bitcoin are broke that was worth $22 million worth $9 million worth whatever like and I'm assuming just based on this comment, he probably picked up one of those stories and was talking about as well as we're considering here fomo. But yes the people who write those articles and the people who report on those articles uh usually don't know what they're talking about. And even I'll even bring it down to the athlete level the athlete that actually fears that they're in trouble, they lost money or they're gonna sell earlier. All that. All of these people don't know what they're talking about. And this is a specific case of Bitcoin we talk about every day. The value is still there. The code hasn't changed. The Blockchain still works, everything is still good. So just because the fiat price uh isn't the same as what it was 67,000 they bought into. It doesn't mean that this is a bad for those who are looking at as investments doesn't mean it's an actual bad investment.
We saw the Bitcoin chart yesterday within three years You'll get your money. Uh A. And then b um again this is all under the assumption that the U. S. Dollar will continue to be as strong as it's been. Even though I literally don't understand how we can say that when just two or three years ago $5 will get you a gallon now. A cat like that is inflation. But whatever we won't get into that that's too much math and no but just to keep it like super simple. Yeah this is one of those things where if we do flip and people do start backing everything with Bitcoin as a reserve. Then literally overnight these people would look like geniuses and the articles will be different. The same thing that's gonna happen with Bitcoin hit its all time high again. So hopefully again he probably just talking about because it's something talking about go ahead.
Can I can I point out that he started talking about Bitcoin when it was $17,000? But it was on the way
In 2017 remember that person we have we have the same price right now and you're telling people not to buy it. That's what we mean. People when we say people that are talking about this industry, they sway the same way that a lot of the mainstream media in a way that a lot of other people do. They just go with the thai whatever the articles are saying or however many people feel a certain way Well everybody's scared. I gotta be scared to oh everybody's buying it. I gotta buy it
to you got to start
thinking opposite. So I mean shout out the boys we've been on there twice to explain this to them but I don't think he understands exactly how important this is at some point and how real money is. Bitcoin his money is. But yeah, we'll see. I mean he's basically telling people the same things you can read in the articles, all the same stuff we tell you here. Yeah.
And then that's the thing too like again people if you're not gonna like if you're not gonna do the deep dive which the overwhelming majority of people who I mean this is talking about the Bitcoin white paper. People literally just ask people who have read the Bitcoin white paper when they're in the market next time someone hey have you looked at this N. F. T. Dare trouble? You know they're about to give you advice. This NFC, this project, this terrorist 20%. Oh you don't know about this? So I got a guy in this discord group blah blah blah, literally just like that's crazy. Have you ever read the Bitcoin white paper like did you see the weird part in that first paragraph, literally just get there like and not if when they say no I've never actually read the Bitcoin white paper stop listening to them and the reason why I say that is because whether you love or hate Bitcoin right? Like literally whether you're I'm forward against in the middle These are a dealt human beings who consider themselves professionals and other industries that will talk about a topic without even reading eight pages on it like this that is absurd to me and people
like this is crazy like that's the type of stuff that doesn't like I can't trust you in your own profession. You watch cars, I don't want you to watch my car. I think you're gonna dirty it up. Like you know what I mean? Like your lawyer highly doubt. I'll probably go to jail mess with you. Like your tax accountant. I'm sure the I. R. S. Is gonna give me a call when I deal with like you can't even do the legwork on literally what's been the like the greatest performing asset the last decade. You can't even do an eight page read but you're gonna tell me other parts of the market People they do not know what they're talking about at all.
They're too lazy to even do the research on the first project that birth 18,000 plus other projects. They're too lazy to do homework on that one
but they won't tell
me. They know but they know about X. Y. Z. Project from the Discord out like come on people
like I don't understand it's like it looked cool so I want to do it to like what have you ever I don't know. It just looks cool like get out of here. People like stop listening to people.
So in general people when people are talking about Bitcoin and crypto no matter who they are, I I would just start off by saying, hey you read the white paper as soon as you get that note, just be like, like I don't, you almost have me. I almost started listening to you. You made sense. Alright. Other news besides that. F. T. X. This is pretty crazy to me. Other crypto firms did sports deals as market collapses shout to Marlon, he uh showed me the story yesterday. It looks like Cryptocurrency companies that poured billions dollars to sports sponsorships into 2021 has looked like they're starting to drive on cash as the post has learned, they're calling this the crypto winner. And as it begins to take hold, the companies are looking to cut costs that splash big on sports deals.
Last year. One of many companies of course is Crypto changed F. T. X. Who shelled out 100 and $35 million to change the Miami Heat home name. In March 2021 pulled out of talks to provide a jersey patch to major league baseball's Los Angeles Angels. In the recent weeks when the Cryptocurrency market tank sources with direct knowledge said I know they're not happy with that. Another past deal between the NBA's Washington wizards and another Crypto company also fell through recently. Uh said sources always wanted all these sources whatever. But um, the reason I wanted to bring the story up is because I think like this is interesting to see on a smaller level when you're talking about patches. But yes, how was F. T.
X. Miami Arenas? You know, name acquisition, is that already fully paid for? Are they paying as they go or even bigger? Which ones I really want to look at was crypto dot com's renaming a staples center of the house that Kobe built. What if crypto dot com ran into any type of liquidity and solvency trouble? Uh and they couldn't find, I mean that's like a 10 or 15 year contract. Do you know how crazy And how mad, like the madness that wouldn't suit here in Los Angeles and you had to rename it again? Or if you found out that crypto dot com could even pay the bills to keep it named. That people will go crazy and like you know what it's official, the house that Kobe built name it, that the city needs to own a piece. Like the city might take over if that were to happen. But this is crazy.
What are your thoughts on some of these firms that can't, I guess make payments from these market deals on these sports deals any longer.
Oh yeah, so when they're buying these or they're getting their name on these stadiums, they're paying upfront or at least a huge down payment and we're talking about 10, 20 year deals. So I don't think they have to worry about it there. But in the micro sense where they want to do stuff like patches or they want to sponsor certainly smaller clubs or teams, soccer teams, baseball, whatever. Then yes, in the downturn in the market there usually cut all the fluff. All right, no more advertisements on stadiums. We're just gonna stick with this plan right here until we get out of this bear market. But it looks though I think people, they look deeper. Sam Bateman freed is basically turned into the warren buffet of Bitcoin or
shout out to Anthony pom pom piano. He mentioned this the other day, but I noticed this as well that they have a lot of cash and they're basically waiting for a bunch of these companies to fail and then scoop there sliding in and they're loaning all these companies money the same way Warren Buffett would wait for banks to fail or if times get hard that he would loan the bank's money and they would owe him forever, which is why he doesn't like Bitcoin because all the banks basically worked for him or owe him. So uh that is what it seems like it's happening right now and write this quote right here at Columbia university sports management professor joepa burrito. So the post that he would be surprised if any major new crypto sponsorships assigned during the current downturn. Of course, like we said before, during the bear market, these exchanges, they calm down a bit less sponsorships, less um uh different deals that they do less money that they give away. All of that happens in a bear market, people, everything slows down ground to a halt. They fire employees like it says here crypto dot com fire 260. But again if you make it through the bear market when it's a bull market, everybody's throwing money. It's like it's like a digital pinata hit that bit and everything flying out. You get scholarships, sponsorships, education grants, develop a fund there. Everybody, I mean buying stadiums, they're buying teams. But as soon as the bear market comes you got to slow down and of course as an individual retail investors, you got to do the same thing.
So FCX just showing you trying to be the warren Buffetts the Bitcoin, it looks like
there they go. Warren Buffett speaking of another I guess future warren Buffett now, he's more into technology. I can't call him that meta, meta said to begin testing N. F. T. S on instagram stories with spark a. R. Earlier this week. Meta also announced it would join with other tech companies to create a metaverse standards body again like two different stories and one I like how they split the second end. But the first thing is initially when MTs and everything came out, I wasn't huge on the craze again, I made sure I ensured I was well read on them, you know, I need to give us a talk or speech or teach on N. F. T.
S and how to create them. We did, uh, I still don't know what happened to the MTs. I created an open C. Of course we did those breakfast club entities and we actually posted a video for it. They have since disappeared. Uh No, there's somewhere, there's somewhere in the digital verse but not available just to pop up and look on open C. I wish I could care less about, but I want my gas feedback. It was like, I think 200 bucks and gas feed to create those at the time. But at that time, you know, I was saying, hey, I didn't really see like how or where N. M. T. S.
Would take fire, you know, like take off whatever and of course I miss them in the, in the process. But once I think it was facebook who initially said, hey, we're using these uh possibly, you know, it's twitter actually, I think twitter said you can use them for like avatars and stuff. Then facebook started talking about now meta. Like that's where I do see the value of N. M. T. S. Like more than anything you're talking about the same way right now, you have a photo on your phone. Um And when you share your number, whatever they can update your profile at least on iphones, you can have that person's photo, I can see that being an empty when you update a person's phone name phone number to contact information, I can see that photo being N. F. T. I can't see a twitter profile pic of facebook and instagram pic.
I can see all of those things being N. F. T. S. And this actually works the way it's intended to the especially to the effect of you trying to stunt on people. It's like your profile pic. I've been seen as like a board a por it's some whatever the hottest N. F. T. Or whatever the hot thing in the game is, that's your profile pic. I mean it is automatically a way to uh so it's an auto automatic way for people to screen you right there like okay, we know this person is perceived to be somewhat of value because they have capital at the very least uh and they have capital to spin splurge you by MTs with it. So at the very least I think it could be some type of social proofing which will again and itself make them a value.
So uh we're talking instagram's parent company, meta announced Wednesday, that will begin testing MTs on instagram stories using its augmented reality platform spark A. R. Um And then again with this story also meta is trying to make a standards body a metaverse standards body people. This is basically the same thing coin base did with the government as they try to make regulations around exchanges so that there would be no competition. Facebook isn't stupid. They've done it for social media platforms already. They understand how this works. The first thing you wanna do, especially if you have resources to get in and start creating barriers so you don't have competition. I can pretty much guarantee you this metaverse standards body will have barriers to stop competition from uh invading what is trying to set out and take over and last one at least passes on the bitcoins. They this is the crazy thing to how do we have standards with something that we don't even have yet? Like what's the best metaverse right now? The center land or like boxes or something like the metaverse is aren't even where they need to be as far as volume and people using them and you're like oh we're gonna write some standards around it.
It's too early. Like standards around what I don't even know where we're standardizing yet. What are your thoughts on this?
That reminds me of the bit license which came in 2000 and 14. Remember it was like the industry hasn't even grown enough. How can you put licensing on something, you don't even know this before dials D. Five N. M. T. S. I. C. O. S. It was before, all of that, all of that stuff came.
So they had innovation and putting the cart before the horse, we create the laws so that everybody has to work inside this small framework. But again, I think like you said before, they maintain control, they're gonna have these standards whatever, but also to uh in their metaverse I believe because instagram is the most popular people will initially use it if you can take your face or one of your photos, apply it into the metaverse and have your own little whatever spot. That would be cool. The thing is um still can't stop getting catfish in the metaverse, so you're gonna still have some of that going on. Uh The one thing I'm looking forward to though is can they get rid of box in the metaverse? Because that would actually curtail some of the problems they have on the social media app is if I get on instagram and it's one click into the metaverse and it's my face and I can actually view different people some way the same way that you see uh sort of instagram profiles, just kind of walking through without all the clutter of all of the fake profiles that would actually give it a great use case and their first market as far as being a big company that's doing it. So we'll see if they do it the correct way, but if they don't, I guarantee you somebody else is gonna swoop in and do it better. There's no way you can have standards on metaverse, we still like 10 years away from it being standardized and where people are using it for everyday stuff so we'll see what happens with that. But again don't get catfish in the metaverse. Uh it's still gonna be a bunch of legal problems, I can tell you that,
I can see that actually happening, I can see the first and unfortunately everybody want to talk about what sparing was unfair. Well Tinder Swindler came through and he and he put it on for the other side but by and large is usually guys giving up their money to some imaginary friend out there so I can already see the metaverse like there being a slew dudes like I paid this girl college tuition, the metaverse bro, she told me was gonna be in real life, that's my metaverse wife, we've been married for four years out here in the central and we see each other every day
from eight PM
eight AM to eight PM in the metaverse. Like I can actually see all that. Listen, I can see it happening, get you a nice little lap dance in the metaverse, get to talk about how your rent in real life ain't paid. Oh
Saw your account right, you can look like you got about $6 billion 100 million of them. Like come on, stop playing. Oh
yeah, I remember uh that movie where people walk around with time and then when time runs out you can see it. That's the metaverse. You can walk around with your network on your forehead and people gonna be able to do what what are you up to? Have conversations? Also to somebody says something about where in the metaverse and we're living in the metaverse, we're just admitting it now, creating our own. I tell you, hey don't get me started with 10 4 hat because the way humans think the way that we're trying to recreate ourselves inside of a metaverse, inside of a technological whatever it's already been done. That's what I think, I mean, we're just it's billions of years for another place to have made it. And we may have a metaverse that's you know, pretty standard and 100 you know what I mean? Like so imagine billions of years of having a perfected, we just perfected metaverse being so somebody in another dimension is controlling my talking right now so I can't be held liable.
All right, well, let Cliff, I know we got his replacement here and ready. So it's all good. Uh Let's see somebody said dr Boyce is selling a $500. Uh N. F. T course. I don't know nothing about that. I saw you all but that's what's up. Hopefully it helped. Uh Let's see, let's see Wendy. I agree with Wendy said the metaverse winners in the future will be hardware creators. I agree Wendy and the reason why is because everybody keeps talking metaverse like I said they tricked me off the streets back when I was like eight years old in the nineties folks.
War eo Warri. Oh they said would be virtual reality. I put on those headsets and I was like what this is is the screen is closer to my eyes like virtual reality. So my point is we've been working on it forever. The Oculus is a new like literally look at warrior on virtual reality like back in the day, I'm pretty sure that was the first Oculus version. So I'm with Wendy I think they need to figure out the hardware first and once we figure that out we'll have the metaverse as far as what we're kind of doing with. It looks like coin basis in the news. As a shutdown coin based pro to merge the trading services. What's going on with coin base?
Oh yeah, so Coinbase Pro was launched in 2018. It was designed to feature unlimited trading volumes, making it easier to trade their supported 250 cryptocurrencies. Coinbase Pro ceased to exist as the exchanges restructuring services to bring them all into one platform. Uh The US based Crypto from Coinbase is officially announced. It will start sunsetting coin best Pro to migrate in all advanced trading services into one unified coin based account. So uh they will migrate to advance trade that's the new section. If you use coin base. It was initially launched in March. I'm sure the inside has got to use it and test it. Uh And advanced rate will provide the same volume based fees as coin based pro. So uh coin based fees are you can have free 0% all the way to 00.6 which is very good as far as trading. However when you try to pull it off that exchange there's gonna be some more fees involved with that uh in some cases so we'll see if that works.
I think coin based pro the reason they're putting it all on one umbrella. Been trying to curtail some of these new I guess new advancements that are happening just like other companies got to cut it down a bit. They already fired some employees or refuse to hire employees that they're trying to just bring it on in and centralize it as much as possible. So we'll see if it works. But again I think they've added way too many projects that don't do ship and that will be their downfall.
Yeah. So for sure you remember folks coin base is now a public company or whatever publicly traded company. So shareholders and this is the issue with brand new companies and innovative sectors like this and then when they go public and they have shareholders shareholders. I hate shareholders. I hate the way we do public companies and shareholders because it's such an L. A. Lakers way. And what I mean by that is trade all the young people, all the great young talent and projects we have out there. Trade them all for a championship right now. Trade them all for this blue chip, great a Lebron James and get the championship right now. Um And the problem with that is sometimes after you win that big championship, after you trade them all in I. E.
We're not worth $100 billion even though we should be, what usually happens the next year. Oh we don't even make the freaking playoffs. We don't, we don't we don't we don't have no type of happiness this
folio, the whole portfolio sucks. Except that one project that's still doing really good in this sector, but nothing else is happening. Like that's to me that's the blue chip, to me, that's that's the shareholder way, right? When you get a shareholder literally every quarter, they want to make profit, they're not okay with saying We won't be impromptu the next three years, but on year four we'll make 100 fold that, they're like, no, no, no we want profit every quarter. Uh And that strange new companies and coin base, even though they had many success and plenty success is still a new company. And as Bitcoins area said they had too much going on. They had so much going on. Too many different things going on. The market turned they fired people. And I agree with Bitcoin's a that is now why they're consolidating because they can't afford to have all these different systems and services offered and available so they're just making this streamline also they don't have the Valium to supporting people. That's really what it's about to any like any pro. So as this is geared toward coin Bass Pro, any professional trader in crypto is not using an exchange and if they are as bodied up they're not even doing it themselves half the time.
So I just know that the volume more than likely isn't there for what they're looking at. But again this is crazy for customers holding funds on Coinbase Pro there's no action to take funds remain stable coin base. Meanwhile customers are welcome to begin using advanced trade on the coin based mobile app and coin base dot com. Um Again a lot I think that the story of coin base isn't over. I don't think it's going to end that great unless the happening literally brings uh you know thousands not millions of new customers in terms of volume. Um If that doesn't happen I think they'll begin to die a slower, even slower depth than what they've been dying. I mean 100 billion people You overvalued it by 60 billion at a minimum You're not getting that money back for the next 3-5 years. So um it'll be interesting for sure.
And bear market turns a lot of people in holders.
Even exchanges. Huh?
Oh yeah. Even Exchange is gonna stick around now at least to the next happening.
Okay so I found it it was called a Virtual Boy. Uh Here it is. I'm about to bring it up. It was a Virtual Boy. That's what I'm listen, I had to find it cause I was like I remember this when I got it. I thought someone's changing came out in 95 I believe. Yes 1995. The Virtual Boy is a 32 bit tabletop portable video game console developed manufactured by Nintendo released in 95. It was marketed as the first console capable of displaying stereoscopic three D graphics. Listen forget no this is the cleanup. I remember this clearly I was getting VR people, they told me virtual reality not know stereoscopic three D graphics. I remember the player uses the console like a head mounted display placing the head against the eyepiece to see a red monochrome display.
And I will say it was pretty cool. But yeah this is what this does not look like an Oculus bro. I'm telling you hold on, let me look at Oculus, is that what it's called? Oculus headset Like it's the same thing. So I'm
it's too bulky right now but stylish glasses where you can do A R. And B. R. It's over for this is gonna look like the old T. V. With the big back. It's
the same it's the same thing I'm with Wendy Nichols and shouts, I forgot his name. The gym that used to work for facebook. Who's ragging on Mark?
Uh Yeah from yeah
from the Bitcoin conference at the at the Gemini party there's a guy who worked with facebook essentially. It sounds like they split ways. He's a high level execs they split ways because he was like I do not agree with the direction we're going in with this metaverse and be our thing. Uh And he even talked specifically about the headset and stuff. He was like you know this is a male dominated thing and he's like you know it was just so many different points that he of contention he had but literally this is my point of contention is that I've seen it tried again, this is a hustle, this is a scam to me doesn't work a little bit better. Of course you got the little joysticks now you can control yourself but tell me this isn't the same thing while tell me it's like it's the same thing and this is how it looked right here, this is the warrior back in the day, I never forgot to put it on. I was like this is cool but this is not virtual reality. Like
I thought I was bro
I was ready to enter a new planet bro. I was like take me away from Detroit. I was like here we are in the new world. No you're not you're still here with the headset here looking dumb as hell
you might as well get that little what's the little headset where you got the eyes? We got to change the pictures manually. You might as well. Yeah let's say let's just be cool we have no pictures you can see what yeah somebody said who's that fan? Hold on he said just take the P. S. 40 your face. Listen
it does say Virtual Boy Wario Land received generally positive reception particularly among retrospectives is regarded as the best game on the Virtual Boy and see here's my point to people don't get it twisted when they just talk about that three D. Stereoscopic whatever it's called. A Virtual boy. I'm not going crazy. I know it's a long time ago I was younger than as well I remember it being marketed as virtual reality hence the name Virtual Boy I'm not going crazy but oreo Land received praise for his gameplay and utilization of three depth and criticism for a short length. It was short as I know what but to be fair again Warrior Land was a great game on this thing. I remember playing it I was like oh my God this is amazing but I also remember when it happened the same day I was like if I'm doing something wrong like this doesn't feel like virtual reality to me. Yeah, that's, that was pretty interesting to see if I can actually bring it up really quick Bitcoins day last but not least. So I bring that up, University of Cincinnati is turning a crypto craze into educational curriculum. What's going on? The University of Cincinnati?
Oh yeah, so at University of Cincinnati, Bearcats, they have a program that will teach students about Bitcoin and other digital assets. Cryptocurrencies as you know, are attracting a lot of attention from academic institutions. About five years after I introduced it to at least a dozen schools, I won't name names right now, but I introduced to about a dozen schools in 2000 and 17, 2016 and then they're coming around now, so shout out to the University of Cincinnati. Um they have established courses around Cryptocurrency. Uh they're working on two new programs that will educate students about crypto like Bitcoin according to a Wednesday, you see news story, the report states of the projects are being funded by dan coats and Woody, who will provide them through the UCS carl h lindner college of Business. So the school will be sponsoring it. The funding also cover the creation of public private lab space and the new digital future headquarters, which is expected to open later in 2022 It is not called Bitcoin Academy, it's called Web three University which is becoming more popular to teach because it is more broad of a statement. Uh and of course you can teach more things following the launch uh Dean Mary ann Lewis PhD stated that students will be able to obtain hands on practical learning in the new financial field of technology. Uh And of course
to see it every school that has it. M I. T. Was I think the first and a bunch of follow suit since then, Blockchain Education Network is good to see, but I will say for those of you who are in college who may be watching this or if you have family members in college, this program, it may be good to learn, but technically it's useless because you can do all of this stuff online right now, as we speak by yourself, you don't need it, but if you're already in the school and you take this class it couldn't hurt right if you're already gonna pay for it. But again, these are starting to be at schools and they're starting to have it as part of the curriculum. This will be regular, just like anything else
there it is. There it is shot at the University of Cincinnati. Again, people follow the money, follow the money, follow the money, I think every school will be offering these programs, not because they want to teach you about Cryptocurrency and Bitcoin, but because there's money, colleges are lagging right now, people are already saying like me, honestly, I've been saying since I went to college I was like I didn't play sports. I don't know how, I'm not sure how certain I would be about going to school back even back then. So now people really aren't going to talk about youtube and all these certifications or even just having a regular a regular vocational job like honestly pays more than a lot of other jobs like you're a master electrician or something, you're gonna pay plumbers getting paid. Um So yeah and in general I think we'll see every curriculum out there offer like you said a web three N. F. T. Whatever the next. But I mean look if they believed in crypto enough when I. C. O.
S. Came out you would have saw I. C. O. Courses at every business school out there. But the fact that it wasn't enough information on the overall market I think that's the only reason why you didn't. So yeah moving forward every new buzz word that comes out if C. B. D. C. S. Becomes like a thing for real in America you better believe there will be a C.
B. D. C. Course taught at almost every school you can think of. So uh just that's that all right last but not least before these last quick comment. I just wanna show this video. Uh this is the commercial for virtual boy back in the day right look at this, look at this oh wow look at that three D. It's coming at you bro coming. Oh my God, Scorpio,
imagine an eight year old and say oh my reps house, I'm like oh I gotta get this mom, dad, I need to get this now. Look at Warri. Oh, oh my goodness, look at that. All
right, all right
now let's see what we actually got.
bro, I was like what is this again? Don't get it twisted. It was a fun game, I love the colors I used to play that night and you can see the red and stuff but I also was like this is not virtual reality, I was
Not a happy kid. So three
D. Stereoscopic this is it right here. So my point, the only reason I bring this up people uh is because I'm saying like don't fall into the hype, I'm not saying things aren't possible I used and uh and I know metaverse I saw said not just the Oculus, I know the metaverse isn't just for the Oculus but in general When you're talking about metaverse, um I think we're still early and again, I've done the VR stuff, it looks incredibly cool. Um my buddy had one of those, I'm not sure if it was the Oculus whatever hits it was when it came out back in, I want to say 2015, He had something and I played around with it, we use drones, You do drones in the sky, you can have the headset on c from your drone. So there's a ton of cool applications, but as far as immersion, I was not feeling the immersion yet, and that's what the metaverse is supposed to be about. If it's not going to be about immersion, uh then really we could just make Grand theft Auto even bigger as far as um the little little servers, people making, we could just all go to the Grand theft auto and do what we want, right? Like what's what's the difference between going to the metaverse?
Well, you know, humans, anytime something's created the first thing that's gonna pop up to sex, that's just how everything that pops up new innovation, technology wise, we're gonna go, we're gonna have a plug in USB to your flashlight, you're gonna be able to meet somebody in the metaverse, that's how it's gonna start out, I promise you. But then more innovations are gonna come and we'll go, there wasn't already a sexual assault charge in the middle verse, Like there's somebody
what I'm saying, like that's what humans are terrible. Whenever something new comes out, the DJs get it first because they play, they gotta get to stay ahead of the game and then all of the good people figure it out and then fix it later, so it is what it is.
And to be uh to be honest, the virtual thing I saw back in 2015 2016 was somebody giving me their being like hey bro just watch this real quick, it was a porn, I was like
like man I don't know what's going on, I was I was just in the room, it was like a mansion room bro and I was being funny, I was approached you got me about to watch a porn star, he was like man just watch it, just watch it so listen you sit in an empty room like a chair is like a master bro, I was like oh this is crazy like you can look around the room and
coming downstairs bro, they started coming out listen I almost started crying but I just saw a lady start coming downstairs, I was like bro what is this, you
had to take it, I was like man so again I get it and I see it, I get it, I get it, I mean it was weird, you can look around and stuff should be right there like bro what the hell is this, I get it but again the immersion still isn't always there but like you said they're probably gonna do something where hey you can control this and do that um and once you get that type of control and I think the biggest thing is once you can make as much money in the metaverse as you can in the real world, the metaverse will take over at that moment. The metaverse will take over so I can't wait to see that happen I guess any last announcement.
Uh yeah, I live right now. You can go watch your boy jerome Powell. He's live right now on Fox business. Uh you can watch him serve up a whole plate of lies about the economy. I'm about to jump on and watch it now while I'm on the way to my destination. So yeah, catch that. If you, if you are able to watch it, yeah
check them out. See what lies will be told today. Um and let us know tomorrow other than that, that is the show today, make sure you smash the like and share kaleidoscope. It was called kaleidoscope, appreciate that. Um Yeah, other than that smash that like and share if you're still interested uh and learning about Bitcoin and Cryptocurrency, you haven't yet check out our master class if you like, hey, I ain't got no money for no master class. There are a ton of great resources. I would suggest going to Youtube Andreas and monopolists Tracy. Mayor before he hopped on the member window wherever bandwagon that was. Uh and also crypto advantage when we used to partner with them. Crypt advantage has still been doing a good job. So a ton of free resources out there. But if you wanted to get straight to the point, check out the master class as well, smash that like and share and we will see you all tomorrow.
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