0:00

Time can move very slowly. When

0:02

you're in a bear market. Watching your crypto

0:04

and NFT value drop can be a depressing

0:06

experience. Well, we've survived

0:09

one bear market and appears

0:11

that we're going to make it through another today.

0:13

Your favorite crypto clowns? Take a look at

0:15

where we've been, what we've learned along

0:17

the way, and discuss where we think

0:20

this all might be going. So be of

0:22

good cheer. We believe the bull

0:24

is almost here. Let's talk financial

0:27

mammals and have some fun as we give

0:29

you our thoughts from inside the

0:31

bear market on episode number,

0:33

get this 700.

0:36

Of the Bad Crypto Podcast.

0:38

54310.

0:44

It's listen who's

0:47

bad?

1:10

Okay, the bad crypto podcast.

1:13

Yeah, we get it. Hey talking bitcoin

1:15

with Joel coming Travis right. Yeah

1:17

digital money and blockchain keep you informed

1:20

and entertain. Make you think make you laugh. But

1:22

remember stay bad.

1:24

The bad crypto podcast. Let's

1:26

go.

1:29

This is the big 700

1:33

live from the Republic

1:35

of Bad Cryptopia well recorded,

1:37

but we're live as we're doing it.

1:39

Wait, let me check my pulse. Yeah. I'm

1:42

live. Trav, you live.

1:43

I'm still alive.

1:45

You're like

1:48

the two live crew.

1:50

Two live crew?

1:51

Yeah. I'm not a smoker. Do

1:55

you know I'm going to. I want to say this. This

1:57

episode number 700. Thanks to everyone

1:59

who has tuned in and heard some

2:02

of those along the way.

2:04

And just as a quick recap,

2:06

Joel, when we started the show, right,

2:09

we started the show in, let's say the

2:11

closest time frame that we have is like,

2:14

it looks like July 16th is when we started

2:16

the show, and the

2:18

total crypto market

2:20

cap at that time was $80

2:23

billion. That was

2:25

the total. That was the total volume right

2:27

there. So that's a historic

2:29

that's a historic time. And now here we are now

2:32

with it like almost 1.1

2:34

trillion. So

2:36

we've gone up over about what,

2:38

almost 15 x since,

2:40

you know here we are since starting to show.

2:42

Did we do that years ago? It was all on us.

2:44

Yeah, us and Ben Armstrong, we

2:46

did it all. And a little bit of

2:48

Michael Saylor. Not much, but some.

2:51

And you know we've

2:53

seen this thing is almost didn't we see it over

2:55

2 trillion wasn't like two point.

2:56

Something over three.

2:58

3 trillion. My god.

3:00

So yeah I'm going to pull up CoinGecko in a minute. We'll

3:02

take a look like we're.

3:02

In for about another run here. It should be should

3:04

be interesting to see over 10,000 coins

3:06

now Joel.

3:07

That's crazy. And those are just the ones

3:09

that are being tracked by CoinGecko.

3:11

There's I guarantee there's at

3:14

least that many more that aren't being

3:16

tracked and who knows. And so

3:18

so, you know, we're just going to have a little conversation

3:21

today. Talk about some of the things that we've

3:23

learned. But let's let's go ahead and historically

3:25

take a look at the crypto

3:28

market. Those of you that are listening

3:30

that's fine. If you want to see what we're

3:32

talking about here, we've got some visuals you could

3:34

check out either YouTube Rumble or

3:36

on Odyssey. This is the total

3:38

crypto market cap that you were talking about right

3:40

here, Trav. And in 2018,

3:43

at the top of the market, the

3:45

crypto market cap got to 812

3:47

billion, right up from

3:49

well, it's 2017 about

3:51

80 billion.

3:52

And then I thought then Joel, then

3:54

my my thought was we're going to hit a

3:56

trillion. And that was probably going to be the top

3:59

of that first one. That's why. But then what

4:01

was so crazy about that one to me, Joe, if you actually

4:03

even zoom in on that one, is that bull

4:05

market was so that bear market was

4:07

so harsh because what ended up

4:09

happening was it hit the high

4:11

and then boom,

4:13

that it tanked right after

4:16

that. Like if you go in and look at that thing, just

4:18

even scroll it over a little bit. January

4:21

of 2020, of

4:23

2018, it just went it

4:25

was down 40% before you know it.

4:28

And then I know that I got invited

4:30

to speak at this coin Coins

4:32

bank cruise that went from

4:34

Singapore to Malaysia to Thailand,

4:37

then back to Singapore. Then we

4:39

it was so crazy when

4:41

we initially started this thing. It was just so nuts

4:43

because there weren't a lot of other podcasts, and so

4:46

people were inviting us all over the place. We even

4:48

got to go to Switzerland. So I literally was

4:50

on the beach one day in Switzerland, the

4:52

next day flying to or

4:54

on the beach in Thailand with the Singapore.

4:57

Flew to Switzerland next day. Six

4:59

feet of snow. Yeah, like it was

5:01

insane. And then the market, it just tanked,

5:04

dude. It went up and then

5:06

boom, it was down 40% before I

5:08

could get back home to sell any cryptos. Right.

5:10

It was rough, you know, which

5:12

is. And now if we so forward

5:14

to 2021, this

5:16

space right here, we'll just pick a 90 day

5:18

or we'll go to the max. But I'll pick

5:21

from 2020

5:25

through. We'll say

5:27

that's fine, we'll go with 2021

5:31

and CoinGecko

5:33

is not. Being supportive

5:36

of me right now. I'm just going to do that.

5:38

Shouldn't it be like when you click on these things

5:41

should, like, tell you exactly

5:43

where where you want it? Yeah. There

5:45

you go.

5:46

Okay. That's kind of what you do. So.

5:47

So there you go. There's 2020.

5:50

We got up to three bill

5:52

3,000,000,000,050. Scroll

5:54

back.

5:54

Take that. Left one down there on the volume. Move it

5:57

over to to the beginning of 2020. Because

5:59

you can see how Bitcoin tanked

6:01

out in like March

6:03

like 3000, 3800 bucks or

6:05

something. Bitcoin did. You can't really see that coin on

6:07

this particular chart. But look at that run

6:09

it went. What was the market cap in say

6:11

April of 20?

6:13

Uh, a market cap was 190

6:15

billion. And then it went up.

6:17

To.

6:18

3 trillion. And

6:20

then it fell. So, you know,

6:23

here's what I learned through two

6:25

bull markets is

6:28

if you want to take profits, you

6:30

want to do it before the market crashes.

6:33

And so it's easy

6:35

to get caught up in the hype and

6:37

the FOMO. And it's going higher. It's going

6:39

higher. You don't want to miss out on those profits

6:41

as it's going up. But I try to peel off

6:44

a little bit, just a little bit here, put some

6:46

profit, put it in the bank because as

6:48

I like to say, it never hurts to take profits.

6:50

And I did that in a small way.

6:53

2017 2018 really

6:56

small because when when it crashed,

6:58

I really felt it. In

7:00

2021 20

7:02

to 2021, I did a little better

7:04

than I did the first time, but still

7:07

not enough to make me say

7:09

I learned my lesson the first time. Yeah,

7:12

and even worse for NFTs, right?

7:14

Because we had there was NFTs

7:16

that I could have sold for 1020 ETH,

7:19

you know, back at the boom that are now

7:21

worth 2 or 3.

7:24

Ouch. Yeah. And then the fact is that at

7:26

that time, ETH was worth so much

7:28

more. Right.

7:30

You're talking about 3 to 5000 ETH

7:33

at ten of those versus

7:36

1600 ETH and worth than 2

7:38

or 3. So, you know, I do think

7:40

that that is going forward is make

7:42

sure to peel profits off. The problem is, is that

7:45

when you get caught up in this game, it becomes

7:47

a little bit like it becomes

7:49

a little bit like gambling because you're

7:51

like, oh man. Like, look at this coin right here.

7:53

It's like. And then remember I heard news

7:56

that Snoop Dogg was launching

7:58

some stuff on gala music, and the token

8:00

price was like, you know,

8:02

$0.30 or something. I was like, oh, dude,

8:04

like this with Snoop Dogg coming over

8:07

and releasing, you know, the return on

8:09

Death Row like that, this price,

8:11

this price is going to go and

8:13

and then so I bought it, I sold a bunch of

8:15

other tokens and went in that and that thing just

8:17

tanked, dude. And I was like, oh

8:20

man. So it's almost like, you

8:22

know, I think I did pretty good along

8:24

the way. But then there was a couple of times

8:26

where I just, I just aped in

8:28

on stuff that I shouldn't have aped in at a time

8:30

that I shouldn't have aped in on it. And

8:32

so it's like, that's what it is, is put

8:34

that over here. It's like if literally

8:37

when some of these coins were going, woosh! If I

8:39

just take those out, put them in the bitcoin, take

8:41

those out, put them in the bitcoin. That's

8:43

what the maximalist would say to do. Put

8:45

everything you can in Bitcoin. Even if Bitcoin goes

8:47

to 70,000 goes down to 15,000

8:50

you still have that bitcoin right. Bitcoin's

8:52

a bitcoin. And so I think

8:55

that this time around is going to be

8:57

interesting. I think every time seems like it's a little

8:59

a little more unique because

9:01

the 2017 one was struck

9:03

with all those ICOs. And so one of the only things

9:05

you could really do with your ETH at that time

9:08

was buy in the ICOs. Right?

9:10

So it's like forced investments. Most

9:12

of those tanked 99 plus

9:14

percent of those are not around anymore.

9:17

Just like James Altucher said back

9:19

in the day, these are all going to be scams. Don't

9:21

buy into those. I mean, we interviewed him really early

9:23

on and he said that and like, haha, yeah,

9:25

whatever.

9:26

Do you think? Most of them were scams though?

9:28

I don't know. I don't think they're scams.

9:30

I just think that, you know, nine

9:32

out of ten startups fail.

9:34

Yeah, that's different than a scam though. Like,

9:36

I want to be real careful as we frame that they're

9:38

scams where people are there to raise money

9:40

to take your money and run off with

9:42

it. I don't think that.

9:42

Was their intention. Most of their intention was not

9:44

to do that. But startups fail. But

9:47

that's how the government in Congress

9:49

is kind of framing it. It was like, oh, they're a scam. We

9:51

got to protect you from your money. It's almost like,

9:54

no, they're startups. And

9:56

most of them fail because startups mostly

9:58

fail, right? And that's just the nature of the game.

10:00

But it's been wild. And then 2020

10:04

NFTs took off. Metaverse.

10:06

Things were so hot. And now

10:08

here we are again. Eyes pretty

10:10

hot, but we didn't see any tokens really

10:13

blow up right now. Yet

10:15

based on that. And now and

10:17

now and now is kind of you could.

10:18

Tell people because meme coins

10:21

have been, you know, the soup du jour.

10:24

And I just don't want to play in that

10:26

because I don't want to gamble it

10:28

personally. I want to invest. I want to

10:30

buy crypto and tokens that

10:32

I believe are going to have real world. Application.

10:35

I want to buy NFTs where I think

10:37

there is utility to them.

10:39

But boy, that hype cycle was

10:41

crazy. And you know, we

10:44

we only ever created collectibles.

10:46

That was that was the whole Mo

10:48

for blockchain heroes is you know,

10:50

we never said there's going to be any utility.

10:53

We never made any promises of any value.

10:55

We just said, hey, here are these cool

10:57

digital collectibles we like.

10:59

They're going to be.

10:59

Fun and they're going to be fun.

11:01

We're going to deliver delight along the way, which we

11:03

did. We added all kinds of utility

11:05

with forging events and then,

11:08

you know, uploading these

11:10

and transforming X amount of cards into

11:12

a new card. So it's like we've done a lot of stuff

11:14

to make it fun along the way. And

11:17

now there's a game.

11:18

Now there's a game. In fact,

11:20

you know, this is this was not something that

11:22

was ever promised, ever offered.

11:25

And we've been working

11:27

behind the scenes to create

11:29

Blockchain Heroes Blitz. If you

11:31

are holding Blockchain Heroes cards

11:33

from the retro Rebellion series, the

11:35

latest series, you can log in with

11:38

your wax cloud wallet. And

11:40

by the time this show comes

11:42

out, the the tournament will

11:44

be happening. There's actually a tournament

11:46

where you can win few tokens

11:49

playing this game. I don't know

11:51

of anybody who has out

11:53

of the blue surprised and

11:55

audience after not

11:58

not saying there's going to be any utility

12:01

and then offered said hey,

12:03

guess what, we made just something right?

12:07

And we did. And here it is.

12:09

And you can pick from your your heroes

12:12

and villains and they can fight

12:14

against one another. And it's a fun

12:16

game. There's some we need.

12:17

To play in one of these games, Joe, that could be kind of fun.

12:19

You and I, we could play one of these. I'm not. Well.

12:21

You play it yourself. It's a solo game.

12:24

You pick, and then it's like you play against

12:26

the computer. So that way people can join any time.

12:28

You don't have to write for other

12:31

people to come on. We did it in

12:33

partnership with who now

12:35

has, I believe, five games and

12:37

you can earn token

12:39

anyway. Go.

12:41

I mean, I'll tell you this, dude, these cards are still so beautiful.

12:43

I think that those retro rebellion

12:46

cards are potentially some of the most

12:48

beautiful NFTs that

12:50

have been created, and they were on

12:52

wax. And so I don't think they got the popularity

12:55

or the buzz that they should have, because

12:57

there's some freaking beautiful ones do this animated. They

12:59

have their own, they got their own soundtrack

13:01

and stuff. And it's just nicely

13:03

done to to Zach to

13:05

to ideate those. And then the developers

13:08

and the coders and the animators, we had to

13:10

help create those beautiful.

13:11

You guys can go to Heroes Blitz

13:14

and and go check that out.

13:16

So I've got the Bitcoin price

13:18

and chart up here. Just a time stamp. We're

13:20

recording this early because

13:22

I'm going to be out of town and Travis

13:24

is going to be moving soon. So just

13:27

a timestamp. Save a frame of reference.

13:29

Even though the show won't launch until

13:31

mid-October. It is the 4th of

13:33

October, and at this moment, Bitcoin

13:35

is $27,584.

13:38

And if we go ahead and look at the look at that, the

13:40

chart here, I mean, this is

13:42

this is where we were at our peak

13:44

about 60. I can't

13:46

quite get it. Let me see if I can zoom

13:49

in so we can get there.

13:51

Looks like 60. This says 67

13:54

617 I got up to 6969.

13:57

Yeah.

13:58

69 420 there we go.

14:00

But actually, Joel, if you scroll back out and

14:02

you hit, hit, hit back out just a little bit,

14:04

the whole thing go back out to so you can see the 2021

14:07

version. So you look at that right there. You

14:09

see that. So you had the little pop right there.

14:11

And then you see this little bop right

14:13

over here in like say July

14:15

August of 2019. So

14:18

we're maybe in that right now where it's going to go

14:20

up. And then we can see if it's going to follow

14:22

that trend. Then it went down.

14:24

But that was because Covid hit and everything

14:26

went a little weird. So that could be a little

14:29

different than that. It could just

14:31

take off on its own and have its own path.

14:33

I personally would love to see it go down

14:35

to about 20 grand before it makes

14:37

its big pop, because then I could snag more

14:39

once my home is sold. That's just personally,

14:42

that's just my own personal greed

14:44

that's going go down about

14:47

15,000 before.

14:49

Yeah.

14:49

So I'm saying.

14:50

The the having is coming

14:53

in May of 2024. And

14:55

typically that is you know, the

14:57

primary driving factor of

14:59

the value of Bitcoin is that

15:01

as Bitcoin gets more difficult

15:03

to mine and there's fewer bitcoin

15:06

that are being mined, it becomes

15:08

more scarce. Because remember there's only 21

15:10

million of them ever. And

15:12

you know to review if there's 21

15:14

million bitcoin ever. We've not yet

15:17

mined 20 million. A million of them

15:19

are in Satoshi's wallet or wallets.

15:21

Which brings us to 19. 4

15:24

million or more will be conservative,

15:26

are allegedly lost in

15:28

wallets that will never be found in a dump

15:30

in Kansas City. And so that brings

15:32

us down to 15 million. You got

15:34

to figure at least 4 million

15:37

are in strong hands. That ain't never

15:39

selling, right. They they are.

15:41

They're locked down. That takes us down to

15:43

11 million that, you

15:45

know, we got 8 billion people in the world.

15:48

So you know, do the math on that.

15:50

That's a lot of people that

15:53

are going to be competing for a very

15:55

scarce currency.

15:58

Maybe.

15:59

Maybe, maybe so just

16:02

just so you know. So the time stamp on

16:04

this episode is going to be coming out

16:07

the week of October

16:09

20th, right? So

16:11

based based on that, we are right about

16:14

six months away from the Bitcoin

16:16

having 180 days.

16:18

If you go look at buy Bitcoin worldwide

16:21

and take a look at the having, we are about

16:23

180 days away from

16:26

the having date. They're saying

16:28

the having date is going to be April 17th,

16:30

2024. Based on

16:33

based on right now, that's going to change a little bit. It's

16:35

going to move a few days either way depending

16:38

on how long sometimes some blocks are having.

16:40

But it looks like it's going to be about, you

16:42

know, 29,000

16:45

blocks or 27, something like

16:47

that. Until the having. Now remember,

16:49

whenever the 2012 happened having

16:52

happened, Bitcoin drop every ten

16:54

minutes, new bitcoins were dropped from 50 new bitcoins

16:57

to 25 Bitcoin 2016.

16:59

It dropped again from 25 to

17:01

12.5. And then in May of

17:03

2020, it dropped from 12.5

17:06

to 6.25. Now this

17:08

1 in 2024

17:10

on April 17th and

17:12

typically right about six months

17:14

up until that new, that new

17:16

halving we start seeing live. So

17:18

we are seeing the beginnings most

17:21

likely of Bitcoin

17:23

doing its thing. Now. It might drop a little bit

17:25

before it takes off a little bit. We're going to see.

17:27

But this is going to take the reward

17:29

from 6.25 bitcoin per

17:31

block to 3.125

17:35

bitcoin every block. Which means

17:37

Joe right that the cost

17:39

of mining these bitcoins should increase.

17:42

And the cost and the value of

17:44

bitcoin should increase. Because these are

17:46

deflationary in nature, the cost

17:48

of doing business should be much higher.

17:51

So if it's going to have then maybe

17:53

we see, you know, if the top

17:55

was nearly 70,000, maybe we

17:57

see 130, 140,000

17:59

as the high of this next cycle potentially.

18:02

Maybe that's a good gauge, I don't know.

18:04

Well, you know, the years

18:06

where the having happens is

18:09

traditionally at least what

18:11

we've seen is something to be watched.

18:13

And the the years

18:15

where it doesn't happen. That's a have not. So you

18:17

have the haves and the have nots, the.

18:19

Happenings and the have nots.

18:21

So in 2020, you're right, Covid

18:23

set off a global

18:26

financial crisis, right? There was a lot

18:28

of panic. And so it

18:30

certainly did not help crypto. Well,

18:32

we have some things that are happening now

18:35

which could also impact the value

18:37

of Bitcoin. For one, we've got

18:39

more adoption happening

18:41

by World Financial Services.

18:43

And we have the SEC saying that

18:46

Bitcoin is not a security.

18:48

And we have Blackrock and the other,

18:51

you know, evil overlords that

18:53

run the world that are looking

18:55

you know grayscale is another one

18:57

that they're applying for their ETFs.

19:00

And when that happens that's

19:02

going to give legitimacy

19:05

to Bitcoin to a

19:07

lot of investors with a lot of money

19:10

that will go okay. Now

19:12

this is being treated as an asset

19:14

class that I can have

19:16

confidence in investing in.

19:18

And so you know what what

19:20

happens there when these ETFs

19:22

finally get approved.

19:25

That's going to be remain to be seen because,

19:27

you know, how are they going to actually

19:29

have it set up? Are they going to be people are going to be

19:32

able to go in and buy a bunch of Bitcoin

19:34

paper Bitcoin. That's not even actually bitcoin,

19:37

because if that's the case, that

19:39

could suppress the price of the

19:41

overall bitcoin because people are buying into Bitcoin

19:44

that doesn't technically exist. I think

19:46

that's their goal. But if you

19:48

look at this, if you're Blackrock and

19:50

you hold one, you hold $10

19:52

trillion worth of assets, bro.

19:55

Crypto all of cryptos 1.1

19:57

trillion. Right now Blackrock could

19:59

come in and buy up all of it. Everything that's

20:01

available. They could come in and buy and

20:04

sort of shut down some of these things

20:06

over as they become available to buy. Boom. They buy

20:08

them. They're going to shut. They could shut it down. That's

20:10

weird to me, but I don't think that's going to happen.

20:12

I think that this bull run

20:15

will probably take us up over $5

20:17

trillion total in the market cap,

20:19

hopefully, and then maybe

20:21

even closer to 10 trillion, because we can't have

20:23

one entity being able to come

20:26

in and move markets so efficiently

20:28

like that. The ETF is going to be a little

20:30

different on how they're doing that exchange traded fund

20:32

and how they're going to build that out.

20:35

I know that paper, paper

20:37

silver is no good. There's like what, 500oz

20:40

of silver for every one ounce of silver

20:42

or it's 500oz of gold.

20:44

One of the two, I don't remember which one is which,

20:47

but there's 250

20:49

times as much fake paper, gold or

20:51

silver. And the other one is 500

20:53

times fake gold, whichever one it is, I don't remember.

20:55

So if they start saying, hey, there's

20:58

500 times fake Bitcoin,

21:00

and then now all of a sudden we have,

21:02

you know, a billion bitcoin

21:04

that people are able to buy even though it doesn't exist.

21:07

That's going to be weird. So you don't want to make sure

21:09

that you have your real Bitcoin in your own

21:11

real wallet that you have your own real keys

21:13

to. Because if you're relying on,

21:15

you know, fidelity or Blackrock

21:17

or anybody else holding your Bitcoin for

21:20

you and your retirement fund because you don't understand

21:22

it, you're probably dealing

21:24

with phantom bitcoin well.

21:25

And that seems like the remedy to

21:28

to having this scenario

21:30

happen is that when you go and you buy your

21:32

bitcoin through one of these brokerage houses,

21:35

that you withdraw it and put it

21:37

on, you know, your own ledger

21:39

or, you know, Trezor or

21:41

paper wallet or whatever, that you are holding

21:44

the keys and that you are the

21:46

custodian of it. Not only is

21:48

it dangerous to have them hold it

21:50

because, you know, they can create,

21:52

they can print fake bitcoin that's

21:54

not there to sell and they

21:57

just profit on. But also let's

21:59

say this social credit score system

22:01

comes to us, you know,

22:03

as it is they can freeze your bank accounts

22:05

now. Well why couldn't they freeze your

22:07

your crypto account through, you

22:09

know, a major brokerage house? They could.

22:12

And so this is why self

22:14

custody and the spirit of bitcoin the intent

22:17

of it for you to be your own bank,

22:19

be your own bank.

22:20

Because yeah.

22:22

Yeah. You don't own your own crypto

22:24

keys. You don't own your crypto. We've

22:26

been talking about that for the longest

22:28

time. And I think it's more

22:30

relevant than now. Now investment

22:33

strategies moving forward I would say

22:35

again, we're not financial advisors, but

22:38

I would say that what we've learned from

22:40

the previous two bull runs is

22:43

that, you know, peel off some profits,

22:45

put some into Bitcoin, most likely

22:47

a pretty good idea if you want to gamble on some

22:50

of these coins that are irks and some

22:52

of these other, you know, different cryptos,

22:54

feel free whichever ones you think are the

22:56

maybe the best ones. We've interviewed a lot of them

22:58

on the show, right? Go

23:01

ahead. But always think about

23:03

building up your satoshis because

23:05

long term it's beginning

23:07

to look a lot like not

23:09

Christmas. It's not. It's beginning to look

23:11

a lot like potentially Bitcoin could

23:14

become the world reserve currency down the road.

23:16

Right. More countries are utilizing it. You know

23:19

companies or countries are saying hey this is

23:21

an official non

23:23

favorable currency right.

23:26

Or whatever, whatever the term that China said

23:28

we mentioned a couple of weeks ago it was a non replicable

23:31

token or something right. Not non-fungible

23:34

non replicable. Like you can't create it out

23:36

of thin air. And so this is

23:38

a real thing. And so as more you

23:40

know more countries around the world start adding

23:42

validity to Bitcoin. Bitcoin's

23:45

the clear winner on this thing for now.

23:47

Right. And there's other companies and projects that are building

23:49

stuff. But if you have a headquarters

23:51

and you have a CEO and you have an

23:53

effervescent founder that's out there talking about

23:55

it, it's not as decentralized as you

23:58

would like it to be. Whereas Bitcoin has none

24:00

of those. Right?

24:00

Effervescent founders, I like that. It reminds

24:03

me of like Alka-Seltzer or something.

24:05

It's kind of what it is. They're out there chatting rah rah

24:07

rah, buy my bitcoin here.

24:09

Here's my strategy. And

24:11

of course you all are smart enough to go do your own

24:13

due diligence and figure this stuff out. Don't

24:15

do anything just because we're doing it

24:18

or because you heard it on the show. Figure it out.

24:20

So my strategy has

24:22

been during this down.

24:24

Market. I've been selling some

24:27

of my NFTs for

24:29

cryptos that I think are at a low. For

24:31

example, wax is like $0.04

24:33

right now. The wax is lower now

24:36

than when we sold the first Blockchain

24:38

Hero series in 2020.

24:40

It was at they were five five. It was five.

24:43

Wow. So so right now

24:45

I'm selling some NFTs

24:48

on wax for

24:50

less than I bought them for, but more

24:52

wax than I bought them for because I

24:55

might have bought them, you know, for a

24:57

hundred wax when wax was, you know, $0.50.

25:00

But now I can sell

25:02

it for 500 wax. And I'm

25:04

my wager. My

25:07

calculated risk is that

25:09

that wax, if

25:11

wax does indeed go up again, and

25:13

I'm I'm hoping that blockchain

25:15

does succeed, then the value

25:17

of that wax will be more than the value

25:20

of the NFT. In other words, I don't

25:22

think the NFT is going to increase in the same value

25:25

as the value of the token,

25:27

right?

25:27

Better a good idea to stack some of that wax, baby,

25:30

if you can. If.

25:31

Yeah, well, if if wax can pull it off. They're

25:33

making a lot of moves. There's some really interesting things

25:36

happening. If you're not paying attention to the partnerships

25:38

they're forming. There's

25:40

alliances happening between blockchains.

25:42

And I don't know what's been publicly announced

25:44

yet. So I'm not going to say anything

25:46

here in this recording that would violate

25:49

any trust that's been put on

25:51

me. Because, as you know, Travis and I have

25:53

been on the Wax Advisory Council and

25:56

we get to hear some things

25:58

and we don't want to do that.

26:00

And a bag of chips gets you a bag of chips.

26:02

Yeah, pretty much pretty much.

26:05

But they're great people. And

26:07

we we think that there's opportunity

26:09

there. And then my my strategy

26:11

for for bitcoin

26:14

is in crypto is I'm looking at

26:16

the market now after six years of being

26:18

involved in this six and a half and

26:20

going look, if

26:23

token X fails it

26:25

has no bearing on whether or not Bitcoin

26:27

fails. But if Bitcoin fails,

26:29

all the other tokens are likely to

26:31

fail as well. So what

26:33

is the most reliable investment that

26:36

you can make? So I think maybe

26:38

I'm maturing and growing in

26:40

my investment strategy and

26:42

starting to listen more to those

26:44

who have been purists on the show saying,

26:46

right, buy bitcoin.

26:48

Coin, buy bitcoin, buy Bitcoin.

26:49

Yeah.

26:50

And the thing is, is like Bitcoin is not going

26:52

to you know, you're not going to have Bitcoin going

26:54

100 X right. Those days are

26:56

done. Bitcoin has gone up I don't

26:58

even know that. It's like a million or

27:01

something stupid since the early days.

27:03

So if you got in bitcoin early you

27:05

do not ever have to worry about dinero

27:07

again. Because if you got in that shit

27:09

under 100 bucks or under 500 bucks,

27:12

and here we are at 20, 30,000

27:14

bucks and maybe going to hit 100,000 bucks.

27:16

You're doing good. But so that's why I do think

27:19

that it makes sense to peel off

27:21

some to put it in the bitcoin. Maybe

27:23

have a percentage of that that you're gambling

27:25

on some of these cryptos that you think might be good

27:27

technologies down the road because you got

27:29

good leadership, you got people that you like behind

27:31

it, checking out the market sentiment about

27:33

those. Because as Bitcoin goes

27:35

historically, Ethereum goes,

27:38

the rest of them go. Bitcoin

27:40

doesn't normally have more than 50%

27:42

of the overall value

27:45

of the crypto market. I think it's sitting at

27:47

like 45, 46%, something like that

27:49

right now. And so typically

27:51

it'll get a little bit lower as some of the markets

27:53

as some of the other cryptos start taking off

27:55

and those in the top 50, there's going

27:57

to be some really big ones in the top 50 that go

28:00

2050 x. There's no doubt about

28:02

it. But picking the right ones can be hard.

28:04

Don't put all your eggs in one basket. I've

28:06

done that before. That tanks that that

28:08

tanks or stuff that tanks your basket. But

28:11

I do think that, you know, selling my home right now

28:13

is a good time because I can take that and get into

28:16

some cryptos and, and have that I,

28:18

that I do tend to enjoy and

28:20

also taking some of that out and

28:22

building a new startup that I'm working on. So this

28:24

is fun. It's like I think that, you know,

28:26

crypto has been a really wild ride.

28:29

We've we've we've seen the ups, we've seen the downs.

28:31

And I think we're about to see another big

28:34

up. But then again, it's I also think

28:36

that we're in such an interesting time now, Joel,

28:38

with the economy kind of teetering

28:40

and some of these world economies doing weird

28:42

stuff right now and just like, man,

28:45

if that's the case, if some of those things tank, you want

28:47

to actually be in some Bitcoin because,

28:50

I mean, you can't carry over $10,000

28:52

or more worth of gold. That's only five gold

28:55

coins at this point, right? If you go

28:57

across state borders or country borders,

28:59

the only thing you could really do is have crypto

29:01

in an encrypted wallet, and you could

29:03

go with a few million dollars if you're lucky.

29:06

So, you know, I think that having crypto

29:08

at this point is a no brainer. Picking the right

29:10

ones can be a little difficult, but as

29:12

always, probably a good idea to grab some bitcoin. Not

29:14

financial advice, but if you're tuning in to this,

29:17

you know how it is. You got to do your own research

29:19

and figure out what makes the most sense to you,

29:21

because there is no silver bullet. We're going

29:23

to say, hey, do this. You're going to be a. We never

29:25

tell you any of that. We never. You're not going to make money.

29:27

Listen to our show. You're going to just research it and find

29:29

it on your own and be like, oh, silly

29:31

rabbit.

29:32

Silver bullets are for killing vampires.

29:34

That's what we do with those. So, you know, the

29:36

strategy for the

29:38

coins that are in the tank is. Well,

29:40

I'm holding them. If the project

29:42

is still alive and they're, you know,

29:45

trying, they're plodding along, trying to

29:47

survive the bear market. Well,

29:49

I'm going to hold some tokens, and I'm

29:51

going to wait until. Because when Bitcoin

29:53

goes up in the market's back, invariably

29:56

many of those tokens will also

29:58

rise along with them. And

30:00

same thing with these NFTs. You know, I

30:02

bought a mutant ape and

30:05

it's probably it's probably survive the best

30:07

out of all of them. But there's a lot of NFTs

30:09

I have that have not

30:12

kept value at all. And as

30:14

long as the project is alive, why

30:16

get out now? You know the market's

30:18

going to come back. There is going to be

30:20

another wave of excitement

30:22

around NFTs as we move towards mainstream.

30:25

And I remember building websites

30:27

in the late 90s, and then

30:29

the market collapsed in 2000, and people

30:31

were writing articles that say, oh, the

30:34

internet's over and e-commerce is over.

30:36

And for four years I

30:38

hung in there and I kept building, and I

30:40

kept looking for ways to monetize

30:42

as I'm growing my content. In 2004,

30:45

four years later, it

30:47

started coming back. And now look what happened.

30:50

Bigger than ever. The internet is ubiquitous,

30:52

and sticking with it was,

30:54

you know, clearly the thing to do. And this

30:56

is what's going to happen. I believe

30:59

with crypto and NFTs, adoption

31:01

moves on.

31:02

Web one, right. It

31:04

kind of crashed at the end of the year

31:06

2000, 1999, 2000, the big Tech

31:09

bubble web one was kind of done.

31:11

And then the grumblings of web two

31:13

were beginning. Right.

31:14

And grumblings.

31:15

Yeah, grumblings and rumblings

31:17

and, you know, see which ones we're going

31:19

to, which ones were going to be the winners. I remember going to

31:22

San Francisco in 2007

31:25

to the web two Expo,

31:27

and just seeing all that was Twitter was brand

31:29

new. You know, YouTube

31:31

had just been acquired by Google and,

31:33

you know, like, oh man, these for $1.6

31:36

billion. Like, how much is YouTube worth

31:38

at this point? You knew YouTube was going to be worth

31:40

so much. Now they even got YouTube TV.

31:43

You can watch and I can see my Kansas

31:45

City stuff, my news stop, and they're showing

31:48

me Kansas City ads. It's like you knew

31:50

they were going to do that. You knew that stuff was coming.

31:52

And web two and here we are

31:54

at The beginnings, and we've got some rumbling

31:56

grumblings of web three. People are

31:58

starting to build stuff. And I think that as this

32:00

thing moves forward, I really think we're going

32:03

to see a big shift

32:05

with stuff. Joel,

32:08

I think moving forward is going

32:10

to be way bigger than VR. And

32:12

I think when Apple drops their Vision Pro

32:15

and because they have it, so you can

32:17

actually see through. So they have cameras on the outside

32:19

that's video and what you're seeing out there. So

32:21

you're seeing it in here. And then you can see stuff on

32:23

top of it. And now quest has come

32:25

out with their they're coming out with their quest three.

32:27

That's going to allow you to see through more.

32:30

And that's going to be huge because then you can

32:32

start putting actions and animations

32:34

on top of real world things. And that

32:36

reminds me of the company Vadim's

32:38

VA Tom s right,

32:40

they would block V originally back in the bull

32:43

run of 2017.

32:45

They're still building right. And they're creating

32:47

these little virtual, you

32:49

know, things that's popping up in the

32:52

world. And so I think their

32:54

time will come eventually as well. I'm kind of

32:56

hoping that their time comes or some technology

32:58

like that, because the

33:00

the merger between the physical

33:02

world and the digital world through

33:04

your AR lenses is going to be another

33:07

game changer. And I think that's going

33:09

to be a fun thing to watch. And then being able

33:11

to use AI to create

33:13

new landscapes in AR

33:16

and VR just by typing it

33:18

or telling it what you want to create it

33:20

like, we're really close to Star Trek

33:22

shit, Joel.

33:24

Are we going to be Borg? You will be assimilated.

33:27

Be part of the collective.

33:28

You will be part of the authoritarian. Hey,

33:30

you.

33:30

Know, we started this show

33:33

not knowing, not being experts

33:35

in wanting to learn from people smarter than us.

33:37

Turns out we've learned a little bit along the way,

33:39

but we're still learning. It's still a

33:41

journey. We're glad that you guys are here with

33:44

us on this journey. And for those of

33:46

you who are not in the bad crypto nifty

33:48

club, we mint NFTs

33:50

and we are dropping them many times for

33:52

free. And if you go to what

33:55

is the what was the uncut

33:57

dot network forward slash

33:59

no.

34:00

Bad crypto dot uncut

34:02

dot network.

34:03

Yeah.

34:04

Or you can do.fm either one. Both of them were.fm.

34:07

We're back crypto their network.

34:09

We'll get you there and get the bad crypto nifty club

34:11

NFT. It's like three bucks and we're going to airdrop

34:13

stuff to you. We've already done a bunch of them. And I think

34:15

Travis, you were.

34:16

Almost 50 or something. Haven't we've done like 40 or

34:18

50. We've dropped to people. Yeah.

34:20

This picture that you've created behind

34:22

you, I think you're going to mess with it a little bit.

34:24

More like I want.

34:25

To animate it, I think I want to animate it and do

34:27

something cool with it. So the so the bitcoin sort

34:29

of exploded.

34:30

Out of the way for a second. Let's see. Oh

34:32

yeah. That looks badass.

34:33

How about I just move me. There we go.

34:35

Oh yeah. So we're going Travis is

34:37

going to work on this. And this is going to be

34:39

an NFT that we drop to

34:41

everybody who's holding the bad crypto nifty

34:44

club NFT, bad

34:46

crypto Dot uncut network.

34:48

Look for the spinny red NFT. Like

34:50

I say, it's about three bucks and

34:52

it's only we're only selling it to keep

34:54

bots from claiming them, because if they're

34:56

free, we don't want to be air dropping to

34:59

to losers.

35:00

Only when I say I say kiss my bots.

35:02

Yeah, I say.

35:04

I don't say that.

35:05

So here's here's my last prediction.

35:07

Kind of for the future is that there will

35:09

be an episode 701 coming soon

35:12

to your ear holes.

35:14

Right on. We're going to keep trucking until we

35:16

no longer are trucking.

35:17

So there's no more trucks.

35:19

So we're done. So we're done with that. But

35:22

we appreciate you all for tuning in, man. You know, we

35:24

got so many great fans that have tuned in. I

35:26

have you know, I've encountered I know

35:28

Joel has as well. When we go to conferences and stuff

35:30

people are like, oh my God. I used to listen to you guys

35:32

all the time and I'm like, why did you stop? Well,

35:35

because I became more smart.

35:37

Because the crypto.

35:38

Market.

35:39

You know, crypto.

35:39

Market tanks. And then what happens is I think that's like

35:42

we're kind of we like to crack jokes

35:44

and then talk about crypto. We don't go

35:46

so deep in there. And then,

35:48

you know, sometimes after a while you're like, I need

35:50

to go hear some of these nerdy nerfs,

35:53

and then you go talk to them. Listen to this.

35:55

All right. Thanks for listening.

35:56

Transitory.

35:57

We don't want to be your transitory crypto

35:59

podcast.

36:00

We don't.

36:00

Care.

36:01

Come, go, stay.

36:03

But clean up after yourself. And remember,

36:05

go.

36:05

Stay bad, stay bad.

36:25

Who's bad?

36:28

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36:30

of Bad Crypto LLC. The content

36:32

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36:34

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36:36

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intended to be and does not constitute

36:41

financial investment or trading

36:43

advice of any kind. You shouldn't make

36:45

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36:47

trading or anything else based on this information

36:50

without undertaking independent due

36:52

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36:54

financial advisor. Please understand

36:56

that the trading of bitcoins and alternative

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37:09

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