Raoul Pal Reveals the BEST Crypto Strategy After Fed Rate Cut

00:58:19
https://www.youtube.com/watch?v=ugfPSPyr05M

Ringkasan

TLDRThis episode of Real Vision commemorates the platform's 10-year anniversary, highlighting the virtual celebration event on September 27th. It provides insights into the current cryptocurrency market, particularly the notable increases seen in Bitcoin and Solana, and discusses the perceived paradigm shift in monetary policy given the Federal Reserve's dovish stance. The episode explores various narratives, from the growth of decentralized finance (DeFi) and the prominence of Solana, to potential market dominance of Sui, fueled by its recent integrations and innovations. Discussions extend to NFTs and crypto art, underscoring their significance in capturing cultural moments as well as potential expansion in their market value. The episode further deliberates on the divide between traditional investment figures and the innovative, fast-paced world of crypto, with specific mentions about evolving meme cycles, the potential of Ethereum in current market conditions, and insights into various blockchain projects. In conclusion, it suggests maintaining focus on established tokens while exploring speculative opportunities in emerging sectors like meme coins and NFTs, aligning with broader market dynamics and macroeconomic shifts.

Takeaways

  • 🎉 Real Vision celebrates its 10th anniversary with special virtual events.
  • 📈 Positive momentum observed in crypto markets, especially Bitcoin and Solana.
  • 🔍 Increasing interest in blockchain technologies like Solana and Sui.
  • 🖼️ NFTs and crypto art maintain significant cultural relevance.
  • 📊 Federal Reserve's dovish stance may kickstart a global economic easing cycle.
  • 🧐 Sui blockchain shows strong potential with recent integrations.
  • 🤔 Solana's influence is being weighed against emerging competitive blockchains.
  • 🗳️ Macro events like elections contribute to crypto market volatility.
  • 🎭 Meme cycles are evolving, influencing the broader crypto narrative.
  • 📚 Education and awareness remain key in navigating crypto investments.

Garis waktu

  • 00:00:00 - 00:05:00

    An announcement is made about a virtual party to celebrate a decade of financial community building with events like a trade ideas competition and exclusive merch offerings.

  • 00:05:00 - 00:10:00

    The hosts discuss recent positive market trends, highlighting gains in cryptocurrencies such as Bitcoin and Solana after a period of stagnation. They mention ongoing promotions for platform membership.

  • 00:10:00 - 00:15:00

    Discussion of recent market conditions continues, with a focus on potential rate cuts and easing cycles following the US Fed's actions. A mix of macroeconomic factors is considered for future market impacts.

  • 00:15:00 - 00:20:00

    The conversation shifts to the market's strategic timing, where they reflect on recent market gains and seek to predict future movements based on current economic indicators and past patterns.

  • 00:20:00 - 00:25:00

    The talk explores potential impacts of upcoming elections on the market, contemplating Trump’s possible influence on crypto regulation if re-elected and reviewing past market responses to political events.

  • 00:25:00 - 00:30:00

    Attention turns to Solana and the behaviors seen in its ecosystem, especially in relation to memecoin phenomena. Temporary underperformance is scrutinized in light of new competitive L1 networks.

  • 00:30:00 - 00:35:00

    The discussion analyzes the possible wane of memecoins resembling the NFT cycle, stressing on retail investor behavior and market saturation with new releases causing reduced profit potential.

  • 00:35:00 - 00:40:00

    A deep dive into the art and NFT market examines mainstays like xCopy and collections’ growing cultural significance. Observations suggest high-value sales reflect ongoing cultural relevance within the space.

  • 00:40:00 - 00:45:00

    They ponder the evolving NFT landscape, suggesting a synthesis of NFTs and memecoins. The allure of culturally significant artifacts appears to become a stable investment narrative going forward.

  • 00:45:00 - 00:50:00

    Sui's performance as a standout in the altcoin arena is credited to technical advantages and strategic partnerships, drawing interest while the market seeks new forefront runners besides Solana.

  • 00:50:00 - 00:58:19

    The session concludes reflecting on the broader market sentiment, institutional interest in crypto, and possible future impacts of various macroeconomic dynamics alongside evolving crypto infrastructure.

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Peta Pikiran

Mind Map

Pertanyaan yang Sering Diajukan

  • What was the main topic of this Real Vision episode?

    The episode focused on the celebration of Real Vision's 10th anniversary and various updates in the crypto market.

  • When is Real Vision's virtual anniversary party scheduled?

    The virtual party is scheduled for September 27th at 12:00 p.m.

  • What has been the performance trend in the crypto market recently according to the episode?

    The crypto market has seen a positive trend, with notable increases in Bitcoin and Solana.

  • Are there any special tokens recommended in the episode?

    The episode recommended focusing on stable tokens like Solana and Sui, while keeping an eye on opportunities in meme coins and NFTs.

  • What are some notable achievements of the Sui blockchain mentioned?

    Sui has integrated Circle's USDC, achieved high liquidity, and low transaction latency, capturing significant market interest.

  • What are some activities planned for Real Vision's 10th anniversary?

    Activities include a virtual party, trade ideas competition, exclusive limited birthday merchandise, and various other events.

  • What economic conditions were discussed as affecting the crypto market?

    Discussions included the economic easing cycle, macroeconomic indicators like the inverted yield curve, and the implications of a dovish Federal Reserve stance.

  • What role do NFTs play in the crypto ecosystem according to the episode?

    NFTs, particularly from recognized creators, remain culturally significant and are expected to grow with increased market cap in crypto.

  • Is there a perception of emerging market potential in Solana?

    There is a perception that Solana's market potential could be seeing its peak, with attention possibly shifting to alternatives like Sui.

  • What are some concerns for the crypto market moving forward?

    Concerns include managing volatility around major events like elections and ensuring emerging trends like deepin sustain market interest.

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Teks
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Gulir Otomatis:
  • 00:00:00
    this September I can't believe it's a
  • 00:00:02
    Whole Decade of democratizing the very
  • 00:00:04
    best financial intelligence and building
  • 00:00:06
    this kind of super community of Finance
  • 00:00:08
    including the super platform of finance
  • 00:00:11
    and to celebrate with throwing a virtual
  • 00:00:13
    party on September 27th at 12: p.m and
  • 00:00:16
    you are on the guest list it's free to
  • 00:00:18
    join so don't miss out if you're not a
  • 00:00:20
    member you can sign up at realvision
  • 00:00:24
    docomo got trade ideas competition where
  • 00:00:27
    you can flex your Market smarts some
  • 00:00:30
    exclusive limited birthday merch and
  • 00:00:33
    much more planned for September it's got
  • 00:00:35
    to be a lot of fun so sign up real.com
  • 00:00:37
    forfree and we'll see you at the party
  • 00:00:39
    September 27th at 12:00 p.m. that's
  • 00:00:42
    realism.com
  • 00:00:43
    slf free
  • 00:00:48
    [Music]
  • 00:01:03
    [Music]
  • 00:01:07
    all right we are here again for another
  • 00:01:10
    episode of Rec Vision we've been doing
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    this for weeks week in week out we've
  • 00:01:15
    been selling off as soon as we go live
  • 00:01:18
    and Ral decides to turn up the one week
  • 00:01:21
    that we've actually had positive
  • 00:01:22
    probably in the last three months so you
  • 00:01:24
    do like to time your entries pretty well
  • 00:01:26
    it looks like um this had been
  • 00:01:28
    pre-planned that you meant to on this
  • 00:01:30
    show but the one week they were up 10%
  • 00:01:32
    kind of on bitcoin 15% on salana su's up
  • 00:01:35
    50% you just suddenly start to show your
  • 00:01:37
    face so well timed well
  • 00:01:39
    timed um yeah we are back again OSF is
  • 00:01:42
    also back from uh Singapore he'll
  • 00:01:44
    obviously be able to fill us in in what
  • 00:01:46
    happened there and just before we kind
  • 00:01:47
    of go into the main body of the show
  • 00:01:50
    it's just to remind everyone again that
  • 00:01:52
    real vision is turning 10 this month and
  • 00:01:55
    you can get a discount on memberships if
  • 00:01:57
    you head on over to the real Vision
  • 00:01:59
    website real vision.com
  • 00:02:01
    forb birthday and use code bday1 that's
  • 00:02:05
    bday1 all caps you will get a discount
  • 00:02:08
    on
  • 00:02:09
    membership all right let's get started
  • 00:02:12
    guys so it has been one of the best
  • 00:02:13
    weeks in crypto we've had in a long long
  • 00:02:16
    time how's everyone feeling about the
  • 00:02:18
    market are we I titled before we went
  • 00:02:19
    live is the banana Zone finally here is
  • 00:02:21
    it finally in the room with us right now
  • 00:02:24
    well I had to go to Zambia to find the
  • 00:02:26
    source of the banana Zone deep in the
  • 00:02:29
    heart of the Lang angua River and I
  • 00:02:31
    spoke to the baboon tribes and they
  • 00:02:33
    assured me that the banana zone is
  • 00:02:36
    coming and maybe maybe it's in the room
  • 00:02:39
    with us
  • 00:02:42
    now that's uh that's good to hear I've
  • 00:02:44
    seen some incredible animations who was
  • 00:02:46
    that there was a meme coin in animation
  • 00:02:48
    Carlson one yeah I I really laughed at
  • 00:02:50
    that one but it's good to see that
  • 00:02:51
    you've gone to the source the source of
  • 00:02:53
    the problem to see where the bananas
  • 00:02:54
    actually come from yeah it was fine the
  • 00:02:56
    river the river was a bit dry so I can
  • 00:02:58
    understand the slowness of the bananas
  • 00:03:00
    to ripen but they are coming and they're
  • 00:03:02
    being sent down the river and they will
  • 00:03:05
    be here well it it feels like some came
  • 00:03:08
    this week we've been saying you see the
  • 00:03:10
    amount of work that I do in in crypto
  • 00:03:13
    for people I mean this is I risk life
  • 00:03:15
    and lmb for everybody to bring the
  • 00:03:17
    bananas back yeah exactly It's Kind of
  • 00:03:21
    Perfect he did do that Safari isn't it
  • 00:03:23
    at the same time um but good to see you
  • 00:03:26
    brought them it it like I said we've
  • 00:03:27
    been doing this week in week out we've
  • 00:03:28
    been telling everyone you know this is
  • 00:03:30
    the time this is the time start loading
  • 00:03:32
    up in September you've been nowhere to
  • 00:03:34
    be found uh trying to find the original
  • 00:03:36
    sources of bananas then you've turned up
  • 00:03:38
    uh and we're all we're all looking good
  • 00:03:39
    we had a big week this week when it
  • 00:03:41
    comes to macro obviously we had the FED
  • 00:03:43
    which seems to have kicked things off
  • 00:03:45
    then we had Japan even today had the
  • 00:03:47
    bank of England it was a big big week
  • 00:03:50
    but it does feel like we have some more
  • 00:03:51
    clarity now I think that's what everyone
  • 00:03:52
    was kind of hoping for people thought
  • 00:03:54
    that we would rally if we had a a little
  • 00:03:56
    bit more clarity obviously a lot of the
  • 00:03:57
    technical selling is kind of in the rear
  • 00:03:59
    view mirror now now you got FTX coming
  • 00:04:01
    in Q4 and it does feel as though that
  • 00:04:05
    was a pretty dubish fed and we're now in
  • 00:04:08
    for probably what two years you think of
  • 00:04:10
    of rate Cuts I don't know if we're going
  • 00:04:12
    to go straight to QE apart from in China
  • 00:04:14
    but it does feel like we have now kicked
  • 00:04:16
    off the global easing cycle once
  • 00:04:20
    again we um it was just a couple of
  • 00:04:23
    weeks ago actually or maybe three weeks
  • 00:04:25
    ago the last two shows I was on when we
  • 00:04:28
    were saying if you're going to take a
  • 00:04:29
    shot at the market Market it was then it
  • 00:04:31
    was the best time to do it like the
  • 00:04:34
    timeline was in you know maximum fear
  • 00:04:36
    mode Bitcoin barely holding on to 54 55k
  • 00:04:40
    and we'd had a very choppy summer very a
  • 00:04:42
    liquid summer ahead of the rate cuts
  • 00:04:46
    that we had this week that I think was
  • 00:04:48
    on the table whether it 2550 was was the
  • 00:04:51
    um point in question ahead of Elections
  • 00:04:55
    ahead of the fact that the base rate was
  • 00:04:57
    525 to 550 basis points so there's a ton
  • 00:04:59
    of room the FED had to cut so I think we
  • 00:05:01
    said it a couple of weeks ago two or
  • 00:05:03
    three weeks ago that like whether you're
  • 00:05:05
    bullish or not if you're going to have a
  • 00:05:06
    gamble if you're going to take a shot at
  • 00:05:08
    the market that was literally the point
  • 00:05:10
    to do it and those who did I think have
  • 00:05:12
    have fed pretty well because Bitcoin is
  • 00:05:14
    up about whatever it is like 13 14%
  • 00:05:17
    since then and obviously as you
  • 00:05:18
    mentioned many alts and me points up 50%
  • 00:05:22
    or more the question that we're now
  • 00:05:24
    trying to figure out is is this
  • 00:05:27
    something that can be sustained uh um or
  • 00:05:30
    is it just another flash in the pan and
  • 00:05:32
    we'll be disappointed but I think the
  • 00:05:34
    main thing to realize here compared to
  • 00:05:36
    previous fake outs if you like is as you
  • 00:05:38
    said Michael we are at the start of an
  • 00:05:41
    easing cycle and we haven't seen the fed
  • 00:05:44
    this dubish for whatever it is three
  • 00:05:46
    years or something like that um probably
  • 00:05:48
    even longer than that and you have to
  • 00:05:51
    understand that it's a paradigm shift
  • 00:05:53
    and we're about to enter a whole new I
  • 00:05:55
    think um Paradigm of
  • 00:05:59
    policy and easing rates and Global
  • 00:06:01
    liquidity and I think that's the start
  • 00:06:03
    of that in my opinion yeah I'm going to
  • 00:06:06
    try and share some charts so um Nick
  • 00:06:08
    just to warn you and about to share a
  • 00:06:10
    couple of charts that's based on this is
  • 00:06:13
    like from everything I look at this is
  • 00:06:17
    this really is the zone so see if I can
  • 00:06:21
    share
  • 00:06:22
    this one
  • 00:06:26
    sec I mean this is a killer I it's an
  • 00:06:30
    absolute beautiful chart it's the GMI
  • 00:06:32
    Global weekly liquidity so that's both
  • 00:06:35
    private sector liquidity and public
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    sector liquidity from the large Global
  • 00:06:39
    economies I mean it's just perfect it
  • 00:06:41
    leads by 10 weeks M2 does pretty much a
  • 00:06:44
    pretty similar job as well so you've got
  • 00:06:47
    that you've got Bitcoin seasonality is
  • 00:06:50
    always strong from this point onwards
  • 00:06:52
    I'm going to share another chart as well
  • 00:06:54
    um let's have a look at this
  • 00:06:56
    one and Bitcoin is also repeating
  • 00:07:00
    what it did last
  • 00:07:02
    year I mean literally
  • 00:07:06
    perfectly you know so we've got the
  • 00:07:09
    macro overlay the FED are going to keep
  • 00:07:11
    cutting over time the other central
  • 00:07:12
    banks are going to be involved we've got
  • 00:07:14
    the seasonality in place we got the
  • 00:07:16
    global liquidity cycle in place I don't
  • 00:07:19
    know what else is left you know it's
  • 00:07:21
    kind of like it has to be now even the
  • 00:07:24
    chart patterns you know usually you get
  • 00:07:25
    three Touches at the top three Touches
  • 00:07:27
    at the bottom of a range that usually
  • 00:07:30
    works
  • 00:07:31
    so I think all of the elements are in
  • 00:07:34
    play yeah look I I think I've been
  • 00:07:37
    pretty public that even on this show
  • 00:07:38
    I've been doing a DCA kind of for the
  • 00:07:40
    last um few weeks or so I think OSF may
  • 00:07:43
    have just Frozen anyway but I've been
  • 00:07:45
    doing a DCA for a little bit of time and
  • 00:07:49
    I still think we probably have a little
  • 00:07:51
    bit of a volatility to go with the
  • 00:07:53
    election that's the final thing I think
  • 00:07:56
    right um and I do think that if if Trump
  • 00:08:00
    is to win that I do think we we could
  • 00:08:02
    see a very very aggressive um rally on
  • 00:08:05
    the back of that towards the end of this
  • 00:08:07
    year because all the other things are in
  • 00:08:09
    play too and the fundamentals have been
  • 00:08:11
    strong for a while and you know that
  • 00:08:13
    because Gold's hitting alltime highs
  • 00:08:15
    every single day right it's just H it
  • 00:08:17
    keeps on hitting highs and you've seen
  • 00:08:18
    that Divergence between gold and Bitcoin
  • 00:08:20
    which has been this perfect opportunity
  • 00:08:22
    to pick up Bitcoin in that
  • 00:08:24
    period um one of the I think it
  • 00:08:26
    negatively correlated for a little bit
  • 00:08:28
    of time and that's really just been
  • 00:08:29
    because technical selling but now Q4
  • 00:08:31
    feels like it's going to be quite a lot
  • 00:08:32
    of technical buying like already this
  • 00:08:34
    week we saw Michael sailor come out and
  • 00:08:38
    upsized a 700 million convertible note
  • 00:08:41
    which he was offering to 1 billion I
  • 00:08:44
    think that means he still has around 1.5
  • 00:08:46
    billion of Bitcoin to buy right now and
  • 00:08:49
    you know he's going to keep on buying
  • 00:08:51
    you've had Black Rock coming out this
  • 00:08:54
    week and saying that they're going to be
  • 00:08:56
    telling their investors that Bitcoin is
  • 00:09:00
    the best Hedge for the uh US debt crisis
  • 00:09:03
    that that's currently happening which
  • 00:09:05
    kind of points to even more
  • 00:09:06
    institutional demand coming on you've
  • 00:09:08
    seen a bunch of different countries
  • 00:09:11
    Qatar Bhutan even came out with a huge
  • 00:09:13
    Bitcoin holding this this um this week
  • 00:09:16
    it feels as though we got a lot of
  • 00:09:17
    different sovereigns coming into it and
  • 00:09:20
    then you have FTX which is 16 billion
  • 00:09:22
    odd coming back into the market as well
  • 00:09:24
    in ke4 so I think the technicals and the
  • 00:09:26
    fundamentals lineup I still think we
  • 00:09:29
    have a little bit of volatility left
  • 00:09:30
    thee of the election but I think that
  • 00:09:32
    window is is really starting to narrow
  • 00:09:34
    and you're going to be buying on the way
  • 00:09:35
    up here rather than catching a yeah and
  • 00:09:37
    that volatility probably happens close
  • 00:09:39
    to the top of the trend you know that
  • 00:09:40
    before the breakout you're kind of
  • 00:09:42
    waiting around that 70,000 Bitcoin level
  • 00:09:45
    70 to 75,000 and it chops around
  • 00:09:48
    frustratingly there before I think
  • 00:09:50
    either way whatever the outcome of the
  • 00:09:52
    election it goes up afterwards anyway
  • 00:09:54
    we've seen that in the past but we saw
  • 00:09:56
    the last time Trump was in obviously
  • 00:09:58
    because Trump is very
  • 00:10:00
    tax light very stimulative um and he's
  • 00:10:04
    very Pro crypto so regulatory stuff both
  • 00:10:08
    for Tech and for for crypto that you
  • 00:10:11
    feel like that could be an extra juice
  • 00:10:13
    if that were to happen and 2016 17 was
  • 00:10:15
    the lasty Trump cycle we didn't have the
  • 00:10:18
    FED actually easing liquidity massively
  • 00:10:20
    they were just starting to raise rates
  • 00:10:22
    and they stopped for
  • 00:10:25
    201617 and it was the Chinese who were
  • 00:10:28
    creating the liquidity
  • 00:10:29
    and the market went you know bananas
  • 00:10:31
    tastic in
  • 00:10:35
    2017 yeah I think I think even with the
  • 00:10:39
    politics I guess is less important you
  • 00:10:41
    just never really know but it does feel
  • 00:10:43
    as though for me it's more just the
  • 00:10:44
    clarity actually think we'll rally even
  • 00:10:46
    if um CA gets in right like I just think
  • 00:10:49
    that markets rally When there's less um
  • 00:10:52
    uncertainty and I think Trump probably
  • 00:10:55
    points to a more
  • 00:10:56
    aggressive crypto policy you know you
  • 00:10:59
    probably get potential for crypto
  • 00:11:01
    regulation even coming in people will
  • 00:11:03
    start talking again about things like a
  • 00:11:05
    salana ETF I do think you'll start to
  • 00:11:06
    see that sort of stuff happening maybe
  • 00:11:07
    it's stronger for alts for example but I
  • 00:11:10
    think the market rallies in all
  • 00:11:11
    scenarios there like the underlying
  • 00:11:13
    fundamentals are are strong and I think
  • 00:11:15
    it's been a it's been a a very very good
  • 00:11:17
    period we maybe go into that a little
  • 00:11:20
    bit because that was one of the the top
  • 00:11:23
    topics again at token 2049 I think KL
  • 00:11:26
    San s of M coin capital Did did a speech
  • 00:11:30
    on is salana the eth killer that's
  • 00:11:34
    finally uh that's finally come there was
  • 00:11:35
    a lot of talk about whether E's dead or
  • 00:11:37
    not a lot of talk about the L1 L2 trade
  • 00:11:39
    did you catch any of that OSF like what
  • 00:11:41
    was the top topics that were really
  • 00:11:43
    coming up in
  • 00:11:44
    Singapore yeah I don't think
  • 00:11:47
    um I think the eth versus salana thing
  • 00:11:50
    it feels like that's sort of come to a
  • 00:11:52
    conclusion at this point given how much
  • 00:11:55
    Soul e has moved in the last let's say
  • 00:11:57
    12 months so I don't think think it was
  • 00:11:59
    a really topic conversation of like is
  • 00:12:00
    it going to be eth is it going to be
  • 00:12:02
    salana
  • 00:12:03
    um the atmosphere is more really on a
  • 00:12:06
    macro level I think which was like is
  • 00:12:09
    this it or is this just going to be
  • 00:12:11
    another fake out I think that the main
  • 00:12:12
    focus I think something people are
  • 00:12:14
    really trying to figure out is
  • 00:12:16
    like I was actually surprised by like
  • 00:12:19
    the general acceptance that salana may
  • 00:12:22
    not be it for the next 12 months and
  • 00:12:24
    people looking at alternative l1s like
  • 00:12:27
    suie for example was something that came
  • 00:12:29
    up a lot um what is that I I noticed
  • 00:12:32
    that bit of negativity not negativity
  • 00:12:34
    but less enthusi enthusiasm about salana
  • 00:12:38
    where's that coming from because there's
  • 00:12:39
    nothing in the ecosystem that suggests
  • 00:12:41
    anything's changed
  • 00:12:43
    anecdotally and this is purely anecdotal
  • 00:12:46
    this is so you have to um remember that
  • 00:12:49
    I think it's coming from the whole like
  • 00:12:50
    pump. fun meme coin thing where you had
  • 00:12:54
    you know people have this belief that
  • 00:12:56
    that's what's Driven the whole salana
  • 00:12:57
    rally at least for the the first half of
  • 00:12:59
    this year and because that game has
  • 00:13:01
    changed from being very PVE to PVP I
  • 00:13:03
    think people have probably just like
  • 00:13:05
    lost a lot of money and I think it
  • 00:13:06
    become
  • 00:13:07
    less focused on salana with the belief
  • 00:13:10
    that most of the onchain volumes of K as
  • 00:13:13
    a result of this like mem coin boom and
  • 00:13:15
    I think people are very focused on monad
  • 00:13:18
    and bar chain that are both coming next
  • 00:13:20
    year as well so there really seems and I
  • 00:13:22
    just thought this was a belief that I
  • 00:13:24
    had like I've kind of become more less
  • 00:13:26
    bullish on Salan I think over the LA
  • 00:13:28
    over the next over the last few months
  • 00:13:31
    here's a question for you
  • 00:13:33
    um monad and bar chain they're going to
  • 00:13:36
    come out in what is potentially the
  • 00:13:39
    final stage of a bull market what why
  • 00:13:41
    the hell would retail buy it is it not
  • 00:13:44
    just the people who got in at seed um
  • 00:13:46
    and are going to flip it out I I just
  • 00:13:48
    don't see why a retail investor would
  • 00:13:51
    buy something that launches in March
  • 00:13:53
    when potentially the whole bloody Market
  • 00:13:55
    finishes by late autumn
  • 00:13:59
    that's uh that's what retail guys do
  • 00:14:01
    that's what what they did with salana
  • 00:14:04
    last cycle yeah but salana was still
  • 00:14:06
    2021 I'm sorry 2020 it was April 2020
  • 00:14:10
    that's true April 2020 it was more like
  • 00:14:12
    sewer years yeah for me I I just think
  • 00:14:16
    the L1 trades become a little bit more
  • 00:14:19
    competitive and I think 12 months ago
  • 00:14:21
    salana was a very super obvious
  • 00:14:25
    trade uh and I think I just think over
  • 00:14:27
    the last few months because
  • 00:14:30
    the big change for me really is that is
  • 00:14:32
    that pump. fun thing I think there's a
  • 00:14:33
    big thing where the actual coin itself
  • 00:14:35
    when salana itself is the asset that you
  • 00:14:38
    use to buy something you know it was
  • 00:14:40
    being used to buy meme coins just like
  • 00:14:43
    in 2021 you were using e to buy nfts you
  • 00:14:47
    know when it becomes the actual form of
  • 00:14:49
    exchange that can really change the
  • 00:14:52
    trajectory of a coin in any point of the
  • 00:14:54
    cycle and when I think over the last two
  • 00:14:56
    three months salana hasn't really done
  • 00:14:58
    bad L but it's moved more towards the
  • 00:15:01
    payments infrastructure the deepin stuff
  • 00:15:05
    number of users has stayed high but def5
  • 00:15:07
    volumes have gone down and although I
  • 00:15:10
    think those things are more sustainable
  • 00:15:13
    I actually think there's been less talk
  • 00:15:15
    about like oh people are spending salana
  • 00:15:17
    on this thing you know they're buying
  • 00:15:19
    something with it and I think that
  • 00:15:21
    sometimes can slow down um uh yeah the
  • 00:15:24
    growth that that begs the
  • 00:15:27
    question do you guys think the me
  • 00:15:29
    cycle is over or was this just the first
  • 00:15:32
    pump I mean and draw parallels to the
  • 00:15:35
    nft cycle when it first started what are
  • 00:15:38
    your thought I mean I I I think we got
  • 00:15:40
    another whole run to go but maybe more
  • 00:15:42
    narrow less
  • 00:15:44
    broad I think it's I think it's the
  • 00:15:46
    beginning of the end of of the meme pump
  • 00:15:47
    to be honest with you like it feels like
  • 00:15:50
    to me what nfts felt like in 2022 which
  • 00:15:53
    was you're no longer early to this great
  • 00:15:56
    big Casino the super normal profit has
  • 00:15:58
    disa appeared the market participants
  • 00:16:01
    have become much more sophisticated so
  • 00:16:04
    you know there are Bots there are all
  • 00:16:05
    these different tools that people are
  • 00:16:06
    using to to have an edge and the main
  • 00:16:09
    thing is like when you have something
  • 00:16:10
    like this the easy money if you're if
  • 00:16:13
    you have no morals and no ethics the
  • 00:16:14
    easy money is just to come in create
  • 00:16:17
    your own meme coin have Insider Supply
  • 00:16:18
    pump and dump and move on to the next
  • 00:16:19
    one and that's what happened with nfts
  • 00:16:21
    like at the beginning there were just a
  • 00:16:22
    handful of NT projects and they all did
  • 00:16:24
    well and then in the middle of 2022 um
  • 00:16:29
    there was like a new project every other
  • 00:16:30
    day which was really been created by the
  • 00:16:32
    same people and they would launch it
  • 00:16:34
    monetize it move on to the next one do
  • 00:16:35
    the same thing and that's what's very
  • 00:16:37
    clearly been happening on on Soul memes
  • 00:16:39
    at the moment so I just think that
  • 00:16:42
    freshness of it has has disappeared um
  • 00:16:45
    and it's going to be very hard for it to
  • 00:16:46
    return Because unless you get a huge
  • 00:16:48
    influx of users which I personally don't
  • 00:16:50
    think we're going to get you just have
  • 00:16:52
    way too many way too much potential
  • 00:16:55
    attention versus the number of people
  • 00:16:56
    that exist and all of that is split and
  • 00:16:59
    bated and the only one thing I'd add
  • 00:17:01
    with regard to salana just that we're
  • 00:17:03
    talking about is I think it's important
  • 00:17:04
    to look at the price it's not it's
  • 00:17:06
    important to not just look at the price
  • 00:17:08
    but look at the market cap and and the
  • 00:17:11
    circulating market cap and salana is
  • 00:17:13
    close to all-time highs than circulating
  • 00:17:14
    market cap I think right now it's 69
  • 00:17:16
    billion I think the highs it got to this
  • 00:17:18
    year was um something like 80 billion
  • 00:17:21
    and the highs it got to last uh in 2021
  • 00:17:24
    was 75 billion so remember like a lot of
  • 00:17:27
    salana is like vesting and being
  • 00:17:28
    unlocked so it's actually hit alltime
  • 00:17:31
    highs in terms of circulating market cap
  • 00:17:34
    this year and there's a ton more to be
  • 00:17:36
    unlocked at the beginning of next year
  • 00:17:38
    too so it's important to just understand
  • 00:17:40
    I think to not look at just the the
  • 00:17:42
    price because everyone is maybe married
  • 00:17:43
    to like the 270 prints or whatever it
  • 00:17:45
    was last year but also the circulating
  • 00:17:47
    market cap which I think is very
  • 00:17:49
    important yeah I'm not a short-term
  • 00:17:52
    Trader necessarily but like I would look
  • 00:17:54
    at stuff in terms of months and I do
  • 00:17:55
    think that we probably just because of
  • 00:17:57
    how strong the mean cycle was I don't
  • 00:18:00
    know if people are rushing back like new
  • 00:18:02
    wallets are rushing back from now until
  • 00:18:05
    year end let's say um I think it
  • 00:18:07
    probably takes a little bit of time to
  • 00:18:08
    settle but I do think having been here
  • 00:18:11
    now for however many years the
  • 00:18:13
    tokenization of of Internet culture is
  • 00:18:15
    going to be one of the main use cases of
  • 00:18:17
    blockchain it just feels like that's an
  • 00:18:18
    up only thing for blockchain the idea
  • 00:18:20
    you can instantly turn internet culture
  • 00:18:22
    or Internet communities into something
  • 00:18:25
    on chain I think that's that's always
  • 00:18:27
    going to be there but I do think
  • 00:18:29
    probably have a little bit of time of
  • 00:18:31
    just that settling down a little bit I
  • 00:18:32
    don't think I don't think P I think
  • 00:18:33
    pump. funds daily revenu is probably hit
  • 00:18:35
    an all-time high for for at least the
  • 00:18:37
    next few months yeah I do think some of
  • 00:18:39
    the memes will continue because as
  • 00:18:41
    people come to the market memes tend to
  • 00:18:42
    do well but I think you're right that
  • 00:18:44
    the whole pump. fund thing has probably
  • 00:18:46
    died down a lot and I think you're dead
  • 00:18:48
    right that culture nfts were culture
  • 00:18:52
    this is culture they're all going to
  • 00:18:53
    morph into something that we yet haven't
  • 00:18:55
    seen and that's probably next next cycle
  • 00:18:58
    this is all kind of experimentation
  • 00:18:59
    stuff um and yeah I think it's still
  • 00:19:02
    going to be one of the largest parts of
  • 00:19:04
    this entire thing but over time yeah
  • 00:19:07
    yeah so I think you can paint a pretty
  • 00:19:09
    good picture of it I actually bought eth
  • 00:19:11
    the most eth I've ever bought this week
  • 00:19:13
    I just kind of felt like there was so
  • 00:19:15
    much it was so well not ever bought but
  • 00:19:17
    for for for many many months uh that I
  • 00:19:20
    bought I just kind of feel as though it
  • 00:19:24
    kind of got the narrative's been beaten
  • 00:19:26
    down everyone kind of knows the L1
  • 00:19:28
    versus L to um hicc up you saw Benjamin
  • 00:19:31
    kowan come out this today and say oh I
  • 00:19:34
    think we're actually close to the bottom
  • 00:19:35
    of e BTC um it could have a little bit
  • 00:19:38
    of a
  • 00:19:39
    rally I see a lot of the other chain
  • 00:19:41
    still doing well and E just hasn't
  • 00:19:43
    really been able to rally and and I
  • 00:19:45
    don't know I just kind of felt as though
  • 00:19:46
    it looked mispriced versus the amount of
  • 00:19:49
    stuff still going on there but I've got
  • 00:19:53
    gotum CH what do you think about those
  • 00:19:55
    three at the moment let me give you a
  • 00:19:57
    hopium chart let me I just need to
  • 00:19:58
    sharer you need an eth CH it's an
  • 00:20:01
    ethopian
  • 00:20:05
    chart it it does feel like to me that's
  • 00:20:09
    eth versus eth last year I can't find a
  • 00:20:12
    closer m fit I can't that's crazy the
  • 00:20:16
    other thing about the eth Bitcoin cross
  • 00:20:18
    is it's driven by um it's actually
  • 00:20:20
    driven by the ism and the business cycle
  • 00:20:24
    um so you're kind of all in that point
  • 00:20:26
    on a weekly uh for those like technicals
  • 00:20:29
    on a weekly Demar count eth just put in
  • 00:20:31
    a 13 low as well it feels that
  • 00:20:34
    everything is in place but that chart is
  • 00:20:36
    is quite remarkable now we know we know
  • 00:20:39
    that these charts fall apart just when
  • 00:20:40
    you want them the most to work so expect
  • 00:20:42
    it to not work but it's just interesting
  • 00:20:47
    contextually it is it does feel like
  • 00:20:49
    we're just an all-time low for eth
  • 00:20:53
    sentiment and part of me does still
  • 00:20:56
    believe that if we have just a general
  • 00:20:58
    risk valy it should perform with the
  • 00:21:01
    other major it should perform with soul
  • 00:21:02
    it should perform with BTC and you know
  • 00:21:04
    e BTC has dropped from like
  • 00:21:07
    0.059 pre ETF announcement to 0 what is
  • 00:21:11
    it 0.04 now it hits 0.038 It's a massive
  • 00:21:15
    massive move lower in um the E BTC ratio
  • 00:21:20
    like huge move lower for not
  • 00:21:22
    like for no real good reason other than
  • 00:21:24
    e Foundation has been selling it and
  • 00:21:26
    people are Maybe as active on on it as
  • 00:21:29
    the casino as they are on salana and
  • 00:21:31
    other things but um it does feel like
  • 00:21:34
    it's the lows for sentiment but I don't
  • 00:21:35
    know I don't know Michael if it's like a
  • 00:21:37
    longer term thing that is ready to
  • 00:21:38
    correct because I still do feel
  • 00:21:41
    like we should just spoke about how
  • 00:21:42
    attention is so divided across all meme
  • 00:21:44
    coins I think intention is so divided
  • 00:21:46
    across the ethereum ecosystem because
  • 00:21:47
    you have so many different l2s you have
  • 00:21:50
    some meme coins onne it's just like it
  • 00:21:53
    feels like if anyone wants to chase it
  • 00:21:54
    an e like okay cool I'm going to go go
  • 00:21:56
    out there and buy arbitrum or optimism
  • 00:21:58
    or blast or something else and
  • 00:22:02
    um I don't know it doesn't feel like the
  • 00:22:05
    the dgen money which is I think a large
  • 00:22:08
    pool of capital wants to sit on eth and
  • 00:22:11
    I wonder if they will ever want to sit
  • 00:22:13
    on eth given the way the direction in
  • 00:22:15
    which eth is going which is let's have a
  • 00:22:17
    ton of l2s which all have their own
  • 00:22:19
    tokens Bitcoin doesn't have that Soul
  • 00:22:21
    doesn't have
  • 00:22:22
    that yeah look I I completely agree with
  • 00:22:25
    that I'm not sitting here as somebody
  • 00:22:26
    who has been Ane bull for a while now
  • 00:22:29
    like all I'm saying about here is from
  • 00:22:31
    Ral perspective to a large extent like I
  • 00:22:35
    think e b Bitcoin has been smashed all
  • 00:22:39
    cycle salana is heading back up towards
  • 00:22:42
    100 billion FTV you have things like
  • 00:22:45
    suie up to about 15 billion ton all
  • 00:22:48
    these other chains are rallying I just
  • 00:22:50
    feel as though e got beaten up and I've
  • 00:22:52
    said before I did like coinbase like as
  • 00:22:55
    the alternative to buying eat because a
  • 00:22:57
    lot of Base Revenue I think is going to
  • 00:22:59
    is going to be supported in in coinbase
  • 00:23:02
    but it just felt like eth was easy for
  • 00:23:03
    me to buy today so I don't know I'm
  • 00:23:06
    buying it I appre all those narratives I
  • 00:23:09
    just feel as though it's also got quite
  • 00:23:11
    a lot going for it mean I've been buying
  • 00:23:13
    it just because I've been buying x copy
  • 00:23:17
    and be stuff mainly x copy you know
  • 00:23:20
    really my entire um eth portfolio is
  • 00:23:23
    just um nft digital art that's it I'm
  • 00:23:28
    comfortable that but we should chat
  • 00:23:30
    about that actually because the x copy
  • 00:23:31
    stuff has been taking off I saw uh an
  • 00:23:34
    addition of one and six sell for 300 eth
  • 00:23:39
    yesterday and I think there was an
  • 00:23:40
    addition of one in 10 that sold for
  • 00:23:43
    around 200 e 250 these are not even one
  • 00:23:46
    of ones these are additions small
  • 00:23:48
    editions which are going
  • 00:23:49
    for very very large amounts um what do
  • 00:23:53
    you guys make of that is that is that
  • 00:23:56
    just going to be a solely an x copy
  • 00:23:58
    thing or is that a sign and you know
  • 00:23:59
    we've had some large Punk sales recently
  • 00:24:01
    as well is that a sign to
  • 00:24:03
    say eth nfts maybe have a chance of
  • 00:24:06
    having you
  • 00:24:07
    know I've got a very strong thesis on
  • 00:24:09
    this that as the market cap of crypto
  • 00:24:14
    goes up over time from two trillion to
  • 00:24:16
    where I think it's going which is 100
  • 00:24:18
    trillion you're going to generate more
  • 00:24:19
    wealth than any other trade in all human
  • 00:24:22
    history in the shortest period of time
  • 00:24:23
    and that gets recycled into art and you
  • 00:24:27
    know I started buying copy really in
  • 00:24:30
    January and I've been buying all year
  • 00:24:33
    that triggered a whole bunch of people
  • 00:24:35
    and I've shared the thesis a lot with
  • 00:24:37
    people that you know the really
  • 00:24:39
    culturally relevant things will will be
  • 00:24:41
    highly sought after first but I think it
  • 00:24:43
    will broaden out again you know art
  • 00:24:45
    doesn't go away um and so we've
  • 00:24:49
    seen punks x copy and you know there's
  • 00:24:54
    very little be for sale at all so those
  • 00:24:57
    are there
  • 00:24:59
    yes fenzza have come down in price and
  • 00:25:01
    yes some of the others have come down in
  • 00:25:03
    price um but I think we will see a
  • 00:25:05
    rotation it's kind of like if you think
  • 00:25:07
    of x copy and beeple and punks as
  • 00:25:10
    Bitcoin you get Bitcoin dominance first
  • 00:25:13
    and as the market broadens out it moves
  • 00:25:15
    to the other uh layer ones layer twos
  • 00:25:17
    and other stuff and I think we'll see
  • 00:25:19
    the same here I think we'll we will see
  • 00:25:22
    a uh a big uptick in art as we start
  • 00:25:25
    going through all-time highs not only in
  • 00:25:27
    Bitcoin but in the other big one which
  • 00:25:29
    is salana because that's what people
  • 00:25:30
    have got a lot of you know I we surveyed
  • 00:25:33
    all of our hedge funds in exponential
  • 00:25:35
    age Asset Management in xam and the
  • 00:25:37
    biggest trade is
  • 00:25:38
    salana yeah I think what I would say is
  • 00:25:42
    what we saw in 2021 was a bunch of
  • 00:25:43
    different smaller and medium emerging
  • 00:25:45
    artists let's say come in and do drops
  • 00:25:48
    and and do really really well I think I
  • 00:25:50
    go back to what I said at the start
  • 00:25:51
    which was just that I think tokenizing
  • 00:25:54
    internet culture is going to be
  • 00:25:55
    something that stays with blockchain for
  • 00:25:58
    a long long time and probably stay
  • 00:25:59
    probably going to be the easiest way to
  • 00:26:00
    do it for decades hopefully and I do
  • 00:26:04
    think that people will continue to buy
  • 00:26:07
    artifacts of internet and blockchain
  • 00:26:09
    culture and x copy just is that what you
  • 00:26:12
    haven't seen is a massive massive pickup
  • 00:26:14
    in emerging artist um art sales what
  • 00:26:18
    you've seen is things like this which is
  • 00:26:21
    we have on screen right now which is
  • 00:26:24
    you're starting to see bigger collectors
  • 00:26:26
    of um this is this is air warning art
  • 00:26:28
    which is done by lock guer who is
  • 00:26:31
    involved in the sale of The Da Vinci
  • 00:26:32
    Salvador Mundy for 450 million he's
  • 00:26:34
    setting up a specific auction house for
  • 00:26:38
    digital art and they're gonna be
  • 00:26:39
    auctioning one two pieces a month
  • 00:26:42
    they're starting with an autog glyph I
  • 00:26:44
    think you're going to start to see this
  • 00:26:45
    you're G to see collectors come in and
  • 00:26:48
    buy um artifacts let's say of crypto
  • 00:26:51
    history maybe even internet internet
  • 00:26:54
    culture history so one of the things
  • 00:26:56
    that I've always said is that you know
  • 00:26:58
    Nostalgia has value right so we all look
  • 00:27:00
    back on the past and it's valuable to us
  • 00:27:03
    and you know x copy is is a moment in
  • 00:27:05
    time as is B and the great example of
  • 00:27:09
    that is particularly if you're English
  • 00:27:11
    you'll see the prices Oasis tickets are
  • 00:27:13
    going for right that is what they're
  • 00:27:16
    doing there is monetizing
  • 00:27:20
    Nostalgia um and you can make tremendous
  • 00:27:23
    amounts of money by doing that and
  • 00:27:25
    people will pay I mean I haven't bought
  • 00:27:27
    my tickets yet but I'm sure I'll
  • 00:27:28
    massively overpay for them because the
  • 00:27:31
    scarcity and that cultural moment means
  • 00:27:33
    a lot to a lot of people a real lot of
  • 00:27:37
    people and this is the same thing the
  • 00:27:39
    cultural moments of 2018 19 20 21 really
  • 00:27:44
    will stick in people's minds forever
  • 00:27:46
    people from this space um and so I think
  • 00:27:49
    it just gets more valuable over
  • 00:27:53
    time do you think the same collection
  • 00:27:57
    activity
  • 00:27:59
    of
  • 00:28:00
    nfts happens on salana or any other
  • 00:28:03
    chain does it stay on I think it stays
  • 00:28:06
    on eth
  • 00:28:09
    ordinals
  • 00:28:10
    possibly but for some
  • 00:28:14
    reason for some reason yes people are
  • 00:28:17
    experiment and other stuff but for some
  • 00:28:19
    reason eth seems to be that chain and
  • 00:28:22
    and it becomes very clunky I've got you
  • 00:28:25
    know nfts and salana and I can't see
  • 00:28:27
    them in in the same place and they're
  • 00:28:29
    not in my open SE and they're not in my
  • 00:28:31
    wallet so it's kind of like it's a bit
  • 00:28:33
    of a
  • 00:28:34
    pain um so I I do think it it tends to
  • 00:28:39
    stay within eth now the question is is I
  • 00:28:43
    actually also think NFS and mem coins
  • 00:28:45
    will merge at some point we saw that
  • 00:28:47
    with the kind of Frank deg God's doing
  • 00:28:50
    the opposite but I think
  • 00:28:53
    somewhere there's a rarity value of the
  • 00:28:57
    NF tea that massively enhances a mecoin
  • 00:29:00
    community in terms of whether it's
  • 00:29:03
    status you know I was talking to the
  • 00:29:04
    smoking chicken fish guys I'm like you
  • 00:29:06
    should give out you know Bishop hoods
  • 00:29:08
    and priesthoods and stuff like that as
  • 00:29:10
    nfts and you can buy your status
  • 00:29:12
    whatever it is right but somewhere these
  • 00:29:14
    are coming together people are thinking
  • 00:29:17
    them it's a or b I don't think it is
  • 00:29:19
    it's a plus b equals c which is the
  • 00:29:21
    moment the Manda was talking about which
  • 00:29:23
    is where culture becomes a very big
  • 00:29:26
    thing yeah I really
  • 00:29:28
    I definitely agree with that I
  • 00:29:30
    think pfp communities were some of the
  • 00:29:33
    strongest communities in 2021 and if
  • 00:29:35
    anything the hurdle for them really was
  • 00:29:38
    being able to join the club if the
  • 00:29:40
    cheapest nft was a few thousand dos it
  • 00:29:42
    was hard for someone to be part of that
  • 00:29:44
    Community um because you know fractal
  • 00:29:46
    nfts never really took off so if you
  • 00:29:48
    have a uh an nft collection which is
  • 00:29:52
    kind of like a has a meme based
  • 00:29:53
    community and you have a meme token that
  • 00:29:56
    goes along with it so is A+ B I think
  • 00:30:00
    that's a very powerful combination
  • 00:30:02
    because you can Flex by you know buying
  • 00:30:05
    the the gold one or the the rare one but
  • 00:30:08
    you can just enter the community with
  • 00:30:09
    with as little as$ one theoretically and
  • 00:30:12
    I I
  • 00:30:14
    think yugul will prove this point out I
  • 00:30:17
    know people have written it all off I
  • 00:30:19
    don't think you should write off B8 yach
  • 00:30:20
    club by the time they actually have a
  • 00:30:22
    clubhouse in Miami and it becomes a real
  • 00:30:25
    thing we will all use it when we go to
  • 00:30:28
    Miami it'll become like a so house thing
  • 00:30:30
    and I can see that idea spreading and I
  • 00:30:33
    can now see that they're working very
  • 00:30:35
    hard on making use cases out of um 8coin
  • 00:30:38
    and eight chain and let's see because
  • 00:30:42
    that they were the people who had the
  • 00:30:43
    big idea is these things are all
  • 00:30:46
    together combined um and I still think
  • 00:30:48
    it's yet to play out but I think it's
  • 00:30:49
    interesting I mean I just saw that dooky
  • 00:30:51
    Dash is like number three on all free
  • 00:30:53
    downloads of games number three on apps
  • 00:30:55
    I I think so we've we've been speaking
  • 00:30:58
    about this now for what 10 minutes we've
  • 00:30:59
    all agreed that that it feels as though
  • 00:31:01
    it's more internet culture blockchain
  • 00:31:03
    culture that's going to be valuable if
  • 00:31:05
    somebody was listening to this and
  • 00:31:06
    saying actually I agree with these guys
  • 00:31:08
    what are the top three things you would
  • 00:31:10
    maybe advise them to buy other than
  • 00:31:12
    maybe x copy because you know you have
  • 00:31:14
    to have 700 Grand to buy it no you can
  • 00:31:17
    buy that don't forget there's a lot of
  • 00:31:18
    floor cheap stuff like that's true there
  • 00:31:21
    he has an open addition which which is
  • 00:31:22
    which is less than that but are there
  • 00:31:23
    any other two things that you or let's
  • 00:31:26
    say three things what are the things
  • 00:31:27
    that you would you would pick out now
  • 00:31:28
    that we've been in the space for many
  • 00:31:30
    years and you can see the stuff that's
  • 00:31:32
    probably going to
  • 00:31:33
    be more likely to be
  • 00:31:36
    valuable I still think rare Pepe is a
  • 00:31:39
    massive
  • 00:31:40
    underlooked part of the nft market which
  • 00:31:43
    technically are not on eth like the
  • 00:31:45
    original ones are on counterparty
  • 00:31:46
    although you can buy on you can buy
  • 00:31:51
    2016 um
  • 00:31:54
    vintage nft like original nfts I think
  • 00:31:57
    that k like the N movement of the
  • 00:32:00
    biggest internet meme character of all
  • 00:32:02
    time like and it's difficult to buy like
  • 00:32:04
    I think that's that's actually a feature
  • 00:32:06
    not a bug so to me and you there rare
  • 00:32:09
    Pepes that are cheap as like a probably
  • 00:32:10
    like a few hundred dollars if not even
  • 00:32:12
    less and then some are worth hundreds of
  • 00:32:15
    thousands of dollars but um you have the
  • 00:32:17
    whole range but I think owning like a
  • 00:32:18
    rare Pepe is pretty much as OG as you
  • 00:32:21
    get in the nft space on more levels than
  • 00:32:25
    one historical significance cultural
  • 00:32:28
    ific um what about Pepe the coin as well
  • 00:32:31
    I'm just trying to think about that as a
  • 00:32:32
    as like a multicycle meme coin as well
  • 00:32:35
    yeah Doge I wouldn't write off Doge ever
  • 00:32:39
    yeah it does feel like if if someone if
  • 00:32:41
    someone said to me what what would you
  • 00:32:43
    buy coming into this space obviously x
  • 00:32:45
    copy feels like he's gonna have that art
  • 00:32:48
    narrative pretty sewn up I feel like
  • 00:32:50
    Pepe and Doge probably are multi the
  • 00:32:52
    biggest multicycle memes that you can
  • 00:32:54
    probably own and you're going to see mad
  • 00:32:56
    volatility but the you know they're
  • 00:32:57
    never going to go to zero they're always
  • 00:32:59
    going to have a bid from internet
  • 00:33:01
    culture and then for for broader nfts I
  • 00:33:03
    do a lot of them have been beaten down
  • 00:33:06
    but I can see I can see a rebound in
  • 00:33:07
    things like Bo Apes um I think maybe
  • 00:33:10
    mutant apes are cheap
  • 00:33:12
    enough mutant prices are not that
  • 00:33:15
    expensive
  • 00:33:16
    now um you know because board apes are
  • 00:33:19
    still not cheap you know for the average
  • 00:33:21
    person but mutants that's not wildly
  • 00:33:24
    expensive and in x copy it's the max
  • 00:33:26
    pain because he keeps burning them so
  • 00:33:29
    there's less and less all the time and
  • 00:33:31
    max pay are very cheap they're kind of
  • 00:33:33
    interesting and punks I guess we would
  • 00:33:35
    all agree on as well yeah we're all
  • 00:33:38
    supposed to say w guy as well but well I
  • 00:33:41
    I don't disagree mate as you know that I
  • 00:33:43
    think W guy I think mfers I think crypto
  • 00:33:47
    dick butts there's a few of that period
  • 00:33:49
    that that will always be culturally
  • 00:33:53
    remembered right and so they're always
  • 00:33:55
    going to have
  • 00:33:56
    value and all it needs is whether you
  • 00:33:59
    guys or mfers I mean they've got the MFA
  • 00:34:01
    coin and stuff whether that is worth
  • 00:34:03
    anything or not um or that was just a
  • 00:34:06
    stunt for Bas but I just think if when
  • 00:34:09
    if you if you see the opportunity to
  • 00:34:11
    reinvigorate outside of the wreck drinks
  • 00:34:13
    and back in that n nft Community when
  • 00:34:16
    it's the right time and it feels
  • 00:34:18
    authentic I think it'll come alive again
  • 00:34:21
    and you know people won't forget mfers
  • 00:34:24
    because most people don't sell that
  • 00:34:26
    stuff in the end they just identify with
  • 00:34:29
    it if I look at my if I go to um I'm
  • 00:34:31
    just going to share my screen again if I
  • 00:34:38
    can you're right like these are sort of
  • 00:34:40
    things that get remembered I think you
  • 00:34:42
    you got to pick those things now maybe
  • 00:34:44
    from the last cycle which are being
  • 00:34:45
    remembered but are still relatively
  • 00:34:47
    cheap and will probably be remembered
  • 00:34:48
    next cycle as well yeah so I've got
  • 00:34:51
    something in my you know in my whole
  • 00:34:54
    kind of n collection which is you x copy
  • 00:34:56
    B Pool Plus a few artist and stuff but I
  • 00:34:59
    have something that I call my
  • 00:35:01
    identity it's the things that that I
  • 00:35:05
    think represent me and it's obviously my
  • 00:35:08
    punk and my ape and then I did these
  • 00:35:10
    hybrids with my ex copies that an artist
  • 00:35:11
    made for me and I minted but then
  • 00:35:14
    there's my mfer and my wck
  • 00:35:16
    guy and I'm never going to sell those
  • 00:35:19
    because they actually represent a bit of
  • 00:35:21
    me and a bit of a moment in time and
  • 00:35:24
    people see them and they smile
  • 00:35:28
    because you know what it means you know
  • 00:35:29
    what it's about you can remember when it
  • 00:35:31
    came out it's like you know it's an
  • 00:35:33
    album it's something you remember it you
  • 00:35:35
    remember the day R guy came out and
  • 00:35:37
    Snoop dogs buying one you know nobody's
  • 00:35:39
    ever going to forget that it's folklore
  • 00:35:41
    so anyway I don't want to Big you guys
  • 00:35:43
    up as well but you know it's I think
  • 00:35:44
    it's part of it yeah I hope so too I do
  • 00:35:47
    I do think that you can um that these
  • 00:35:50
    things are going to be around but I
  • 00:35:52
    think that's what you got to really
  • 00:35:53
    choose now because I think it's very
  • 00:35:55
    very clear that internet culture crypto
  • 00:35:57
    culture is going to be with us and you
  • 00:35:59
    can kind of guess which stuff now is
  • 00:36:00
    going to be it has to have folklore it
  • 00:36:02
    has to have
  • 00:36:04
    folklore so maybe we we we'll change tax
  • 00:36:07
    slightly because we've been talking
  • 00:36:08
    about a lot of left curve stuff there
  • 00:36:10
    and maybe just focus on what was the
  • 00:36:11
    best perform of this week releasing on
  • 00:36:13
    the l1s which was which was
  • 00:36:16
    sui um which has been I think it was
  • 00:36:19
    trading at not point a half a dollar um
  • 00:36:22
    in the middle of August it's now at 1.5
  • 00:36:24
    it's done a 3X over the space of about a
  • 00:36:28
    month and a half I think it's close to
  • 00:36:31
    its all-time high in current market cap
  • 00:36:33
    because there's actually been some
  • 00:36:35
    dilution um just because it does have a
  • 00:36:37
    decent amount of unlocks but this has
  • 00:36:40
    been a really really crazy trade uh as a
  • 00:36:42
    comeback this week they announced that
  • 00:36:45
    they are having Circle um integrate
  • 00:36:48
    their stable coin usdc onto the chain
  • 00:36:51
    last week we had grayscale come out and
  • 00:36:53
    do a suy trust or at least start to get
  • 00:36:56
    funds from in tional investors on that
  • 00:36:59
    this one really feels it has some
  • 00:37:00
    momentum I know you're very close or
  • 00:37:02
    close with the um with the
  • 00:37:05
    foundation what what what do you think
  • 00:37:08
    here is it is this one that's going to
  • 00:37:10
    keep on pushing on is this stuff that
  • 00:37:12
    you think is coming which is going to be
  • 00:37:13
    a game changer for sui yeah I mean I you
  • 00:37:17
    know just the disclaimer is I am on the
  • 00:37:18
    board of the
  • 00:37:19
    foundation but I have you know I'm a
  • 00:37:22
    mercenary when it comes to my own money
  • 00:37:23
    and and
  • 00:37:25
    I have for a while been thinking we all
  • 00:37:28
    three of us have talked about this is
  • 00:37:31
    that this might be one of the chosen
  • 00:37:33
    ones and the reason being is that the
  • 00:37:35
    team is world class they've built you
  • 00:37:37
    know
  • 00:37:39
    scalable um blockchains suitable for
  • 00:37:42
    three billion people plus I mean these
  • 00:37:44
    guys are world class they're a little
  • 00:37:46
    bit
  • 00:37:47
    technical so the narrative was missing
  • 00:37:50
    but then started to come alive with
  • 00:37:53
    narrative but the reality is they've got
  • 00:37:55
    the latency of the chain down to 600
  • 00:37:58
    milliseconds it's stupid fast they've
  • 00:38:01
    got they've now just building this wall
  • 00:38:03
    Russ which is a data storage layer which
  • 00:38:06
    is a separate token but it's like
  • 00:38:08
    basically AWS on top of you know this
  • 00:38:12
    whole move virtual machine idea then
  • 00:38:15
    they've got pilot fish coming which is
  • 00:38:17
    their version kind of a fire dancer
  • 00:38:19
    which gives it kind of unlimited
  • 00:38:22
    TPS and they've got a very serious bis
  • 00:38:24
    Dev team obviously we've just got Circle
  • 00:38:27
    um and there'll be I'm sure plenty of
  • 00:38:30
    others whether it's in gaming or real
  • 00:38:31
    world assets and other stuff to
  • 00:38:33
    come so they've they're just capturing
  • 00:38:36
    mind share now don't forget this is a
  • 00:38:39
    low free float and once you capture mind
  • 00:38:42
    share in a low free FL it outperforms by
  • 00:38:45
    definition because there's less of it
  • 00:38:46
    around you you can have the same mind
  • 00:38:48
    share for eth it's not going to go it's
  • 00:38:50
    barely going to move so I know people
  • 00:38:53
    hate low free floats you're going to
  • 00:38:54
    love them in a bull market and hate them
  • 00:38:56
    again in a bare Market because they're
  • 00:38:58
    just Super Beta so I think that's the
  • 00:39:00
    that's the point to realize it's also
  • 00:39:02
    Super Beta capturing mind share uh you
  • 00:39:06
    know they seem to be executing well and
  • 00:39:08
    people are looking for the next big
  • 00:39:10
    trade because as as Obie was talking
  • 00:39:12
    about you know people are kind of like
  • 00:39:14
    well is the salana trade over what's the
  • 00:39:17
    next big one and so it feels like it's
  • 00:39:20
    it's got everything right and I think it
  • 00:39:23
    it I don't see what else is going to
  • 00:39:24
    dominate I look at the charts of sui
  • 00:39:26
    versus the top 20 tokens and a whole
  • 00:39:28
    bunch of other stuff I don't see
  • 00:39:30
    anything that looks close to being able
  • 00:39:33
    to compete with it for the time being
  • 00:39:35
    the only things coming are monad and bar
  • 00:39:38
    chain doesn't mean that Celestia and all
  • 00:39:40
    this stuff doesn't go up a lot but it's
  • 00:39:42
    very difficult to see anything that's
  • 00:39:43
    going to outperform that
  • 00:39:45
    chart yeah we're just bringing it up now
  • 00:39:47
    so it was a top performer in the top 100
  • 00:39:50
    this week I think it even was last week
  • 00:39:52
    as well it' been brewing for a while I
  • 00:39:53
    remember you actually posted a chart of
  • 00:39:55
    it versus salana a few weeks back and it
  • 00:39:58
    really just gapped uh during that period
  • 00:40:01
    I think it's been interesting
  • 00:40:02
    interesting one obviously this is one
  • 00:40:03
    like you said it's a $4 billion market
  • 00:40:05
    cap it's a 15 billion FTV and there are
  • 00:40:08
    there are a decent amount of unlocks as
  • 00:40:09
    there are even for many of the other
  • 00:40:11
    chains in the top the big unlock
  • 00:40:13
    happened the really horrible one has
  • 00:40:16
    happened and um I think the story there
  • 00:40:20
    has really been a bit more B2B right
  • 00:40:22
    like they do a lot of B2B sort of
  • 00:40:24
    Integrations and less of the b2c at
  • 00:40:26
    least recently or at least it's been
  • 00:40:28
    less obvious that some of their um
  • 00:40:30
    consumer crypto applications but this
  • 00:40:33
    this usdc integration perhaps really you
  • 00:40:37
    know uh allows their defi projects to to
  • 00:40:41
    grow the TV's huge as well it's $800
  • 00:40:43
    billion dollar now $800 million yeah um
  • 00:40:47
    so I think I think it's in a decent spot
  • 00:40:49
    it's obviously this is a trade which has
  • 00:40:51
    done basically a 3X in a month and a
  • 00:40:53
    half so be be wary but at the same time
  • 00:40:57
    this is um it's definitely caught
  • 00:40:58
    attention and kind of led the other uh
  • 00:41:01
    l1s Phantom's been another one because
  • 00:41:03
    they've got an upgrade coming but suie
  • 00:41:05
    does feel like it's it's captured M
  • 00:41:07
    chare you can actually see a lot of it
  • 00:41:09
    has come out from eth a lot of people
  • 00:41:10
    have been selling eth to buy suie
  • 00:41:12
    they've kind of felt like they probably
  • 00:41:13
    missed the salano trade and moved into
  • 00:41:15
    into sui but you could see from the
  • 00:41:17
    onchain flows that a lot of it actually
  • 00:41:18
    came from East the other one that's
  • 00:41:20
    interesting I just interviewed John Woo
  • 00:41:22
    from
  • 00:41:23
    Avalanche and I caught up with P kicks
  • 00:41:27
    in Portugal when I was there and I don't
  • 00:41:29
    know have you met Pierce yet Mando
  • 00:41:31
    you've got to meet him he's such a great
  • 00:41:33
    guy good friend of mine and he's the
  • 00:41:35
    gaming guy at um Deli and um he talked
  • 00:41:39
    about the investment he's made in Off
  • 00:41:42
    the Grid he's like it is the best game
  • 00:41:44
    I've ever seen in web 3 and it may be
  • 00:41:46
    one of the best games I've ever played
  • 00:41:48
    that's on Avalanche um and I got John on
  • 00:41:51
    because of what Pierce said to talk
  • 00:41:52
    about it that's going to be really
  • 00:41:54
    interesting because we've not had a
  • 00:41:55
    proper Breakout
  • 00:41:57
    you know this is a battle royale game
  • 00:42:00
    you know ultra high definition super
  • 00:42:03
    quality um if this takes off okay that's
  • 00:42:05
    a big
  • 00:42:07
    deal well gaming gaming has had a bit of
  • 00:42:10
    a weird cycle it was very very strong
  • 00:42:12
    probably a year ago you had a bunch of
  • 00:42:13
    different coins come out there's
  • 00:42:14
    actually A1 billion doll gaming coin
  • 00:42:16
    which launched today uh on the ton
  • 00:42:19
    Network there was a you know one of
  • 00:42:20
    these telegram mobile games launched by
  • 00:42:24
    binance um hit a billion dollars today
  • 00:42:27
    you have the hamster
  • 00:42:28
    combat uh launch I think next week which
  • 00:42:31
    could be multiple billions looking at
  • 00:42:33
    looking at um where that Co launched
  • 00:42:36
    today but if that is the case then yeah
  • 00:42:38
    avac does have a very very strong gaming
  • 00:42:40
    Inc care system we could say we could
  • 00:42:42
    see that come come back um pretty pretty
  • 00:42:45
    strongly are there any other altcoin
  • 00:42:46
    narratives that you picked up on OSF in
  • 00:42:49
    in Singapore anything that people were
  • 00:42:51
    talking about that could be applications
  • 00:42:53
    I know I saw a few people mention like
  • 00:42:54
    deep in being the like the main one but
  • 00:42:56
    I didn't because I think there was some
  • 00:42:58
    Integrations with like grab out there
  • 00:43:00
    and couple other deep um Integrations it
  • 00:43:02
    does feel as though that one seems to
  • 00:43:05
    have the strongest things going on with
  • 00:43:06
    it right now yeah I would agree with
  • 00:43:08
    that but there wasn't
  • 00:43:11
    any it was one of those conferences I
  • 00:43:13
    didn't come away with like oh we have to
  • 00:43:15
    spend time looking at this and that
  • 00:43:17
    usually happens to every conference I go
  • 00:43:18
    to this one was
  • 00:43:20
    like it felt like a conference of people
  • 00:43:23
    with frustrated positions that hadn't
  • 00:43:25
    gone well this year like that was my
  • 00:43:27
    sentiment for it usually when I go to
  • 00:43:30
    whatever like nft myc or consensus
  • 00:43:32
    Austin or whatever I come back thinking
  • 00:43:34
    oh I need to spend a day right now
  • 00:43:36
    looking at this thing to put money into
  • 00:43:38
    it it didn't feel like that at all um I
  • 00:43:41
    think all the narratives are out there
  • 00:43:42
    all the yor coins have been identified
  • 00:43:44
    it's just a case of canot rally like
  • 00:43:48
    that's the that's what it feels like to
  • 00:43:50
    me there wasn't anything new or any
  • 00:43:52
    particular area where I felt like people
  • 00:43:53
    were specifically focused on or or or
  • 00:43:56
    excited about really to be honest with
  • 00:43:58
    you is more just hope trade
  • 00:44:01
    which we're all in in it for the hopium
  • 00:44:03
    as well but is there anything you like
  • 00:44:06
    anything you've liked as well R like I
  • 00:44:08
    know you often at like The Cutting Edge
  • 00:44:09
    of a lot of these sort of early trends
  • 00:44:11
    that you've interviewed or or spoken to
  • 00:44:13
    recently you're like oh
  • 00:44:15
    W um you know I joined the board of Club
  • 00:44:17
    dean of danan which you guys know as
  • 00:44:20
    well because I'm just really interested
  • 00:44:22
    in following that Journey you know
  • 00:44:25
    they're launching their token today
  • 00:44:27
    tomorrow um it's not really about token
  • 00:44:29
    price for me and that it's like can you
  • 00:44:31
    actually use this stuff for loyalty
  • 00:44:33
    Logistics dpin and all of the things
  • 00:44:36
    that are being talked about um but in
  • 00:44:39
    the markets now I'm super concentrated
  • 00:44:42
    you know it's the salana sui and even my
  • 00:44:45
    memes are all down to one uh two which
  • 00:44:47
    is Doge and uh smoking chicken fish so
  • 00:44:50
    I'm hyper concentrated and then nfts is
  • 00:44:54
    my long-term savings bucket you know
  • 00:44:56
    stuff I want to have for 10 years um and
  • 00:44:59
    that's it I'm trying to keep out of
  • 00:45:01
    trouble um I think it's a really
  • 00:45:03
    important thing is if you think you've
  • 00:45:05
    got decently strong narratives just
  • 00:45:07
    don't [ __ ] around with it because before
  • 00:45:09
    you know it you chop yourself up to
  • 00:45:11
    death by trying to C catch
  • 00:45:14
    something the other thing I saw this
  • 00:45:16
    week was the was the Bhutan headline
  • 00:45:19
    which was that they are they came out as
  • 00:45:21
    a holder of $780 million Bitcoin I know
  • 00:45:24
    also you're somebody who speaks to
  • 00:45:25
    various different Sovereign wealth funds
  • 00:45:27
    various different even Nations
  • 00:45:29
    themselves um in terms of advising about
  • 00:45:31
    blockchain and blockchain
  • 00:45:33
    strategy do you think we had more of
  • 00:45:35
    these sort of stories coming we saw
  • 00:45:36
    Qatar come out with with crypto
  • 00:45:38
    regulation about a week ago or has it
  • 00:45:41
    been kind of quiet I know you've kind of
  • 00:45:43
    you've spoken to people on both sides
  • 00:45:45
    there like do you think we're going to
  • 00:45:46
    see adoption from a sovereign and
  • 00:45:48
    Sovereign wealth fund level from some of
  • 00:45:50
    the conversations you've
  • 00:45:51
    had I don't
  • 00:45:54
    think if they do it's going to be the
  • 00:45:57
    radar screen the last thing you want to
  • 00:45:59
    flag is to the US Reserve currency that
  • 00:46:02
    you don't want to hold their
  • 00:46:04
    currency um and you know something
  • 00:46:07
    they're kind of somewhat hostile to you
  • 00:46:09
    want to hold that so I mean Bhutan is
  • 00:46:12
    different they're recycling
  • 00:46:13
    electricity I mean we know Iran has it
  • 00:46:16
    I'm sure the Saudis have mined it um you
  • 00:46:19
    know I've spoken to Abu Dhabi about
  • 00:46:21
    using the gas flare offs to do
  • 00:46:24
    it um so I think there'll be experiment
  • 00:46:27
    mentation but I don't think there's
  • 00:46:29
    going to be Sovereign Sovereign Nation
  • 00:46:31
    State hoarding and don't forget the US
  • 00:46:34
    knows how to analyze blockchain down to
  • 00:46:36
    every single small detail so you you
  • 00:46:39
    can't evade them the only real way of
  • 00:46:41
    doing it is what I think tasek did which
  • 00:46:44
    is I think they had investments in
  • 00:46:46
    Bitcoin miners to get virgin Bitcoin so
  • 00:46:50
    therefore it's the only untraceable way
  • 00:46:52
    of doing it do do you think just with
  • 00:46:56
    you know how oil has been going a lot of
  • 00:46:58
    different Commodities even this cycle
  • 00:46:59
    particularly the energy sector as well
  • 00:47:02
    do you not think a lot of these Gulf
  • 00:47:03
    States will just jump at something like
  • 00:47:06
    Bitcoin like as a way to diversify I was
  • 00:47:08
    looking I was reading a lot of pieces
  • 00:47:09
    about how the Saudis are under pressure
  • 00:47:11
    of their budget at the moment they're
  • 00:47:13
    all pegged to the dollar I mean
  • 00:47:16
    they you know they have to be very
  • 00:47:18
    careful in how they do things there are
  • 00:47:20
    some things deemed to be acceptable and
  • 00:47:22
    things to be deemed to be unacceptable
  • 00:47:24
    they will do it but in the background
  • 00:47:27
    but I don't think we're going to wake up
  • 00:47:28
    it's like Saudi buying you know10
  • 00:47:30
    billion dollar a day for the next 50
  • 00:47:32
    years it's just I just don't think
  • 00:47:35
    that's going to happen I think that's
  • 00:47:36
    more opium but of course there'll be
  • 00:47:39
    more participation and it will come
  • 00:47:42
    from I mean I spoke to the head of the
  • 00:47:45
    Australian Sovereign wealth fund and he
  • 00:47:49
    was like sat in his office and he's like
  • 00:47:52
    listen I am never going to put crypto on
  • 00:47:55
    my balance sheet
  • 00:47:57
    he said ' I'll do VC and stuff like that
  • 00:47:59
    I said why not he goes I am not going to
  • 00:48:02
    a G7 meeting or whatever it is a world
  • 00:48:05
    bank and doing this I can't I just can't
  • 00:48:08
    and that was a big you know clear thing
  • 00:48:10
    it's like it's a it's a no
  • 00:48:14
    no yeah I just agree with you you so you
  • 00:48:17
    think that the the golf stations won't
  • 00:48:19
    even be allowed to like just they have
  • 00:48:21
    to buy dollars and they're not going to
  • 00:48:22
    be allowed to to maybe diversify they to
  • 00:48:25
    do it somewhat in their Sovereign wealth
  • 00:48:28
    in some
  • 00:48:29
    respects but it's kind of hidden pushed
  • 00:48:32
    to the periphery you know don't forget
  • 00:48:33
    the Saudis are not big in this yet
  • 00:48:35
    they've still yet to be convinced the
  • 00:48:37
    regulation's not super clear uh yes you
  • 00:48:40
    know potentially uh
  • 00:48:43
    Bahrain Qatar some of those other states
  • 00:48:48
    might do something but again below the
  • 00:48:50
    radar screen I don't think there's going
  • 00:48:52
    to be any Public Announcement much like
  • 00:48:54
    Bhutan managed to do this without
  • 00:48:55
    anybody knowing this has been going on
  • 00:48:56
    for several years yeah I just feel there
  • 00:49:00
    could be a rush to diversify now if oil
  • 00:49:02
    continues to head south um and
  • 00:49:06
    particularly if or you know if the the
  • 00:49:08
    giant Shale oil fields kind of come back
  • 00:49:11
    online or even grow in the US like I do
  • 00:49:14
    think that there's going to be more and
  • 00:49:15
    more questions about how a lot of these
  • 00:49:16
    Gulf States are going to um treat crypto
  • 00:49:19
    or maybe look to it to diversify their
  • 00:49:22
    their current Holdings should we get to
  • 00:49:24
    the question so yeah we have about eight
  • 00:49:26
    minutes left so um let's move on to
  • 00:49:28
    questions before we do that um just a
  • 00:49:31
    quick one for you guys we want to
  • 00:49:32
    showcase some more Pro crypto content on
  • 00:49:34
    real Vision earlier this week the
  • 00:49:36
    community came together for the monthly
  • 00:49:38
    Discord Distillery this is the show
  • 00:49:40
    where the r real Vision Pro crypto
  • 00:49:42
    members share the best Alpha from their
  • 00:49:44
    Discord so you can check that out on the
  • 00:49:45
    realvision website that's realvision
  • 00:49:47
    decom and don't forget there's a Code
  • 00:49:49
    you can use right now to bag yourself a
  • 00:49:51
    membership at a discount that is bday1
  • 00:49:54
    uh the code to use but yeah now on to
  • 00:49:56
    the question questions um we'll kick it
  • 00:49:58
    off from Jason on the real Vision
  • 00:50:00
    website which is his question is
  • 00:50:02
    thoughts on true flation and true
  • 00:50:04
    inflation's token how do you categorize
  • 00:50:06
    alts that are
  • 00:50:07
    databased it's an interesting question
  • 00:50:11
    actually I I've got some in my wallet
  • 00:50:13
    because they gave them some to me but
  • 00:50:14
    it's like a grand or something um I
  • 00:50:21
    don't I get the point of utility tokens
  • 00:50:24
    but I'm not sure how much value they
  • 00:50:25
    acrew without Mass use
  • 00:50:27
    case
  • 00:50:29
    um so maybe over time if they can build
  • 00:50:32
    out a much larger Suite if they can take
  • 00:50:34
    on standard and pause or whoever it is
  • 00:50:36
    for all of the data then it's it's a
  • 00:50:39
    valuable Network to own um not sure yet
  • 00:50:42
    I think just follow the journey and see
  • 00:50:45
    it's not the uh prettiest chart I've
  • 00:50:47
    I've ever seen as as I pulled it up
  • 00:50:51
    um but to be honest with you I'm not
  • 00:50:53
    super familiar with uh with as a token
  • 00:50:57
    I don't know if you had any thoughts on
  • 00:50:58
    that one Mando no I haven't I haven't
  • 00:51:00
    really looked into it so yeah not not
  • 00:51:02
    one for me um all right next question
  • 00:51:05
    from Elia on the real Vision website um
  • 00:51:07
    thoughts on deep in and how it factors
  • 00:51:09
    into the cycle any specific projects the
  • 00:51:12
    guys are looking into with regard to
  • 00:51:14
    deep
  • 00:51:15
    in yeah I think I think this is one that
  • 00:51:18
    I picked up on just from the commentary
  • 00:51:19
    from token 2049 like Singapore is
  • 00:51:21
    integrating a few of these s deepin apps
  • 00:51:24
    already the big big app so far this
  • 00:51:28
    cycle um has been the mobile provider um
  • 00:51:30
    helium in the in the US which I think is
  • 00:51:33
    is growing pretty rapidly I think it's
  • 00:51:35
    in hundreds of thousands of of um
  • 00:51:38
    subscribers at the moment to their
  • 00:51:40
    mobile plan and they are looking to to
  • 00:51:42
    grow that pretty
  • 00:51:43
    aggressively and if that works then I do
  • 00:51:47
    think you'll see copy cap sort of
  • 00:51:49
    projects happen in a lot of different
  • 00:51:50
    countries um and the idea is you you
  • 00:51:54
    basically run a small let's say Network
  • 00:51:58
    at your house which is able to boost the
  • 00:52:01
    5G um capabilities of the network and
  • 00:52:04
    you get paid in the in a native token
  • 00:52:06
    for doing that and that means you have
  • 00:52:08
    network coverage kind of across the us
  • 00:52:11
    at the moment and they are very good
  • 00:52:12
    network coverage across the US and
  • 00:52:15
    seemingly they're looking to to to do
  • 00:52:17
    this potentially in M multiple other
  • 00:52:18
    different countries but I think a lot of
  • 00:52:20
    other countries will move before that so
  • 00:52:22
    I think mobile networks is a very
  • 00:52:24
    interesting one particularly on the back
  • 00:52:26
    what's going on there so that's the main
  • 00:52:28
    winner I would say in the deep in SE of
  • 00:52:30
    this cycle there's been some other ones
  • 00:52:32
    which kind of merge Ai and data storage
  • 00:52:36
    stuff but that that's the one I think
  • 00:52:37
    it's been the stand out also the I think
  • 00:52:39
    it's on salana they're experimenting
  • 00:52:41
    with a uber version which people have
  • 00:52:43
    talked about for a long time is perfect
  • 00:52:45
    for deepin feels right somebody tried it
  • 00:52:47
    in India didn't take off um people have
  • 00:52:50
    tried it but there's a new one starting
  • 00:52:52
    that could be
  • 00:52:54
    interesting next question um does the
  • 00:52:57
    inverted yield curve turning normal
  • 00:52:59
    cause any concern so much talk about how
  • 00:53:01
    it is a recession
  • 00:53:04
    indicator I think it's just a Big R red
  • 00:53:06
    herring um I'm just you know it's just
  • 00:53:10
    the macro doomsters looking for another
  • 00:53:12
    reason why the markets are going to
  • 00:53:13
    collapse and everything's going to go to
  • 00:53:15
    hell and inflation's going to come
  • 00:53:17
    roaring back and this is just one of
  • 00:53:19
    those things we've had signals in the
  • 00:53:21
    past where it didn't work we've got
  • 00:53:22
    distortions in the yield curve because
  • 00:53:24
    of how the fedish ring notes stuff at
  • 00:53:26
    the short end um I think
  • 00:53:29
    ignore I agree I think something I see a
  • 00:53:32
    lot is people talking about oh
  • 00:53:34
    historically rate cuts a sign of a
  • 00:53:37
    recession and you know point where
  • 00:53:38
    markets turn I just don't think you can
  • 00:53:41
    take one factor which is rate cuts and
  • 00:53:44
    extrapolate it to every single situation
  • 00:53:46
    and did LA you know last time that
  • 00:53:49
    happened did you have this crazy AI
  • 00:53:51
    bubble and AI boom no like last time
  • 00:53:53
    that happened did you have rates go
  • 00:53:56
    to the highest levels they've they've
  • 00:53:57
    been in the last four decades at the
  • 00:54:00
    same time as stocks hitting consistently
  • 00:54:02
    hitting new alltime highs that's never
  • 00:54:04
    happened before right so we're in a new
  • 00:54:06
    paradigm because of AI and because of
  • 00:54:08
    tech stocks and you can't just compare
  • 00:54:11
    this current market situation to
  • 00:54:12
    previous times when we've had rate Cuts
  • 00:54:15
    in my opinion um so you have to to
  • 00:54:17
    consider everything every single factor
  • 00:54:18
    and not just one of them um next
  • 00:54:22
    question from John on the real verion
  • 00:54:23
    website the market feels like this is
  • 00:54:25
    retail crypto people buying back in and
  • 00:54:27
    front running as best as they can are
  • 00:54:30
    there any indicators of bigger money
  • 00:54:31
    flows into crypto I'm not seeing any I
  • 00:54:35
    mean everybody I speak to is saying
  • 00:54:37
    they're not raising Capital right now
  • 00:54:39
    everyone's kind of in that wait and see
  • 00:54:41
    mode and people are a bit disheartened
  • 00:54:44
    not disenchanted but disheartened and I
  • 00:54:48
    think the the Raa networks the family
  • 00:54:51
    offices and some of the institutions
  • 00:54:53
    they're really more likely to fomo in at
  • 00:54:56
    north of 880,000 Bitcoin and right now
  • 00:54:59
    it's rotation it's bit of money went on
  • 00:55:03
    the sidelines goes back in I don't see
  • 00:55:05
    anything more I don't know are you guys
  • 00:55:06
    seeing anything
  • 00:55:08
    else the whole cycle yeah I I don't I
  • 00:55:10
    don't I don't really feel like we've had
  • 00:55:11
    a huge influx of new people coming into
  • 00:55:14
    crypto this cycle we'd had a little bit
  • 00:55:15
    of a of an influx I think at the start
  • 00:55:18
    of the year and then slowly died down um
  • 00:55:21
    that being said I do think the the ETF
  • 00:55:23
    is also taking a few of those Maybe on
  • 00:55:26
    chain holders I think Bitcoin holders is
  • 00:55:28
    at least um deposit addresses is like a
  • 00:55:30
    5year low at the moment but I think a
  • 00:55:32
    lot of that is moving uh to the ETF I
  • 00:55:34
    think if for St people to start fomo
  • 00:55:37
    foming and you start to hear those of
  • 00:55:38
    stories which bring people in you need
  • 00:55:40
    Bitcoin at an alltime high again so I
  • 00:55:42
    does feel as though people are probably
  • 00:55:43
    just buying back in with spare cash they
  • 00:55:45
    have or anything that they've sold um
  • 00:55:48
    rather than than like new wallets coming
  • 00:55:50
    in but that doesn't necessarily mean
  • 00:55:51
    they won't come in later like that's
  • 00:55:52
    what 2 at xam we've got a big list of
  • 00:55:56
    people who came in for inquiries around
  • 00:55:59
    March April and then the market traded
  • 00:56:02
    sideways and they're like all aring and
  • 00:56:04
    ouring and oh yeah I'll do my paperwork
  • 00:56:07
    later and my guess is the conversion
  • 00:56:09
    rate of those guys will be very high
  • 00:56:12
    once we're hitting alltime highs yeah
  • 00:56:14
    just a natural inclination FTX is also
  • 00:56:17
    the other big one 16 billion is not a
  • 00:56:19
    small amount going back but wasn't most
  • 00:56:22
    of that kind of pre-sold in advance via
  • 00:56:25
    Galaxy and panta and that's been
  • 00:56:28
    depressing Soul somewhat because some of
  • 00:56:30
    those unlocks have been coming out um
  • 00:56:32
    because other people saying well it's
  • 00:56:33
    maybe two billion or three billion of of
  • 00:56:36
    actual money that's coming back in I
  • 00:56:39
    don't know
  • 00:56:41
    this the potential impacts would be but
  • 00:56:43
    I think there's two things right there's
  • 00:56:45
    like the FCX FTX estate sales which have
  • 00:56:49
    been in the market for a while and then
  • 00:56:50
    there's also the impact of um money
  • 00:56:54
    being distributed back to depositors
  • 00:56:56
    some of which been also sold you know I
  • 00:56:58
    think I heard people sold claims as low
  • 00:57:00
    as 10 cents and obviously recover is
  • 00:57:02
    north of par there but I think that
  • 00:57:04
    secondary impact of those of that money
  • 00:57:07
    being returned to depositors should be
  • 00:57:09
    bullish assuming that not everyone has
  • 00:57:11
    sold their to their
  • 00:57:14
    claims um yeah I think there's two parts
  • 00:57:16
    to it yeah but yeah that's uh that's the
  • 00:57:19
    last question that brings us to time so
  • 00:57:22
    thanks everyone again for tuning in
  • 00:57:24
    thanks Ral for for turning up I think um
  • 00:57:27
    we managed to Not Crash the market today
  • 00:57:29
    um maybe that's the r he's turned up
  • 00:57:32
    we'll see you again at alltime highs Ral
  • 00:57:34
    like we'll be here exactly I only come
  • 00:57:36
    for the glory my friends I don't I don't
  • 00:57:39
    dirty my hands with anything
  • 00:57:41
    else um but thanks everyone for tuning
  • 00:57:43
    in that was re Vision make sure you're
  • 00:57:45
    following us on X remember to check out
  • 00:57:46
    realvision
  • 00:57:47
    docomo and use the code bday1 to get a
  • 00:57:51
    discount on memberships um we will not
  • 00:57:53
    have a show next week but Mando and I
  • 00:57:55
    will be joining the 10th birthday
  • 00:57:57
    celebrations on real Vision um so go to
  • 00:58:00
    the website to watch that next Friday
  • 00:58:02
    that will be at 12:00 p.m. EAS time uh
  • 00:58:05
    or 5:00 pm British summertime and thanks
  • 00:58:07
    everyone for tuning in have a great
  • 00:58:08
    weekend great to see you all take care
  • 00:58:10
    out there
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