Yo-yo, yo-yo, what up? What up?
Good morning. Good Morning, MG, Monday,
February 5th, 2024. Why is it doing this?
Why it's so loud? Jesus.
All right, 2024. Look at that.
Another beautiful day to have a beautiful day.
I got my clothes to the house. OSF Mando, how you guys feeling
today? Good.
I'm good. How are you?
Sorry, guys. It is like not working today.
All right? We're good.
OK. You're good.
I'm good. Perfect.
Mando, how you doing? I'm doing good man.
How are you? We're good.
We're invited, We're back and it is Monday.
We are so back and it is absolutely crazy again today.
Just a reminder, just as a reminder, like every single day.
You know, we still have. I don't know how much we got
left to go. Sims probably knows better, but
I'm pretty sure it's enough to go all week long.
We're giving away $1000. Give away $1000 a day on the
show. To anyone.
To not anyone. To someone that follows us,
follows Robit and retweets the spaces.
So at the bottom right there's a purple box.
If you're on computer follow, make sure we do Twitter Spaces.
If you're on MacBook, just make sure that you're retweeting the
space that goes live automatically on my account when
I go live. So it's just a purple box.
There's nothing. It's no captions, nothing.
That's the tweet. I'm going to pin it right out to
the top. Formal hour episode 53 already.
You absolutely love to see it. I mean, Boys episode 52 last
week was, it was quite it was Christmas all over again, huh.
That was we should can we revisit that for a second?
I know, I know, We've been posting a ton of videos about it
online, but that was crazy. Yeah, it's sad I missed.
I missed the end of that show. And then I saw.
I watched back to see the videos posting throughout that versus
your level of hosting, which is hilarious.
Yeah, I mean, I have to say I I caught by the way you got you
got caught for a second here. But I know exactly what it was
talking about. He was talking about OV's
straight face. We have hold on.
I think Sam's made a post this morning.
It was so funny. So it's like listener wins a
camp. I panda, this is OV's face.
And then you have you have Listener wins a Rug, Reader
Genesis Obi's Face. Listener wins $13,000 Obi's
face, Listener wins an RLD Obi's face, and Oh my God dude, I was
dying from Mando's comments here.
It's funny and look it that was so good.
But yo, it was like it was like sweet bonanza going on on the
rug video, you know, from our studio on Friday.
So you know, first first hit was a camp eye.
Second hit was was the RLD, which he ended up.
What is he sold it over the weekend, right?
And bought Badagos and then swapped the east to Solana.
You can tell he listens to the show a lot, huh?
And but at least someone from your community picked up the RLD
for a good price, right? OV Is that what happened?
Yeah, exactly. We got it's good because it gets
people in who want to who want to get anything so.
No shaming on here. If you're in NFTS and our loot
boxes and stuff like that, you can dump the shit out of them
into blur beds if you want. You do whatever you want.
This is, this is your call. It's free game.
At the end of the day you just got money for listening to the
show. You want to dump him, you dump
him all you want, but just know there's always going to be
someone to scoop him up from you.
So. So that's a good thing with
these with these liquid markets actually.
So anyways, today's show today, today, what do we got?
I'm going to post a broadcast thing in a second but what a
Sims have in store for us this weekend was packed on the NFT
front that's for sure. Anyways market report as usual
crypto macro yadda yadda. All that good stuff going on.
We'll see what happens. It was really like a link
marines type of weekend huh. The link marines up good 10
points lot of stuff to talk about that Tia and all that good
stuff as usual. So it's it's just the usual
suspects, right. Tia Sui stuff Social fi.
Social Fi is so back with forecaster you know being at the
really at the front of attention in the big time in the big way
at the moment. So we're going to talk about
this for a minute. I messaged the founder who
respectfully say that he just needs a couple of weeks because
they're really busy right now. They're a really small team.
So he's going to come on at some point though.
So that's going to be a really good episode.
And then NFT check up, NFT roundup.
So as usual, you know it was a big ordinals weekend.
So you know RSI see you know puppets, yada, yada yada, all
that good stuff but stuff happening across chains, Solana
East and etcetera. But the big thread that went
like viral I think was Friday or sorry they wanted to.
I think it was Friday though was G Money.
Good friend the show who took $1,000,000 loan, made a small
loan of $1,000,000 on his Ape Punk, which is I believe to be
the biggest loan ever taken on a punk.
Perhaps on NFT, but G Money is going to be joining us to talk
about that. I hit him up.
He's going to come on the show to talk to us about this loan
and like kind of how it works and you know, just give us some,
you know, some good content here for the people that didn't get
to read the threats anyways. Anyways, anyways, why don't we
get this party started with the markets?
Yeah, GM, everyone can. Can you hear me?
OK? I am like, driving, so we'll see
how this goes. But it's.
All right. Yeah, OK, let's see.
Yeah, kind of uneventful I would say as a as a weekend ETH has
been outperforming Bitcoin. Bitcoin, I think it's hanging
out around 43 K Last time I checked Solana, it's been
underperforming, went down to like 96 area, but there are some
old coins still doing OK. So you had link up a lot links
kind of broken out of the range and it's heading towards 20.
You've had suey, you've had say you've had Tia, all the like the
the most recent alts seem to be doing well, but volatility has
really died off over the last few sessions.
I think bitcoins kind of hung around 43 K to be honest.
It's been hanging around this area for the last couple of
months, really like actually kind of got to this level early
January and it's just up, down, stayed around this level.
So it feels like we've been in this range for a while.
A lot of people are saying that this reminds them of the range
that we had for a long period where where Bitcoin hung out
around 26 to 28 K and we've got something similar going on right
now. This has just been going on for
a long, long, long time. Literally two months.
By the way, Mando on the on the screen.
It's a February 4th, December 4th.
That was 42 K. Exactly.
I think, I think I mean this wouldn't really matter but like
the the market and most a lot of participants let's say in the
day-to-day market are degen. So that lever trading the hell
out of this, and it's not been a great I think period for people
who have been trying to catch a breakout of Bitcoin or ETH or
Solana, it feels like they've just been range range bound for
a while and every single time they try and break out you kind
of can get punished trying to catch that.
So I would say it's been a slightly frustrating market for
a lot of people for at least the last month, but let's see what
happens there. Mean coins again didn't really
have a great weekend. They've been a couple of of like
new coins that have come out but like nothing, nothing major.
I would say the majority of the major ones that people have been
tracking recently are lower. There's a new token standard
which I think you even mentioned about control he's he's been
talking about which which had a bit of a run, but other than
that it's been, it's been relatively quiet and then NFTS,
NFTS have actually had an OK period.
So like we've had Bitcoin NFTS had a really strong week and are
sick and and the puppets are kind of breaking out to new
highs. A couple of new new projects on
ETH have done have done well and yeah Solana Solana FTS have
slightly underperformed I think but that's that's just because I
think Sol itself is like slightly underperformed since
the Jupiter AirDrop. Jupiter as an AirDrop is hasn't
really been supported 5 billion roughly and but we've got a new
AirDrop coming tomorrow that is the dimension AirDrop which
yeah, well Dimension mainnet is tomorrow.
I'm pretty sure that's the same time as the new AirDrop coming
but that is already a 4 billion AirDrop in the in the pre
market. So that'll be another one that
everyone starts writing threads on and then there's been a few
other ones that people are now soundtrack Egon Layer has been
like the next big one that people are looking at that's
broken into the top 10 for D5 over the weekend.
But yeah, I would say that's what people are going to be
focusing on. Still, air drops.
It feels like game is going to be the big one this week.
Solana is slightly losing the, I would say the focus of the
market right now. Like I kind of felt like it
would push on from Jupiter, but because Jupiter hasn't performed
that well, it feels as though other things are starting to
catch up. You've seen people go back to
things like tears as like the way to get air drops or suey or
any of these, right? Like everyone's just trying to
catch the next AirDrop. And it's kind of what you said
last week for Rogan, I think we keep on seeing it is that there
hasn't been that many new people that have entered during this
bull run and you the only way you can see that is just because
one thing pumps, everything else kind of falls.
I think we're starting to see that a little bit like if pumps
and everything has to fall for eats to pump or if someone's
trying to catch the new tier like staking, then sorry air
drops and all the other alts start to fall.
So it still feels like a one in, one out policy at the moment
with like crypto and I don't know that's not that doesn't
strike me as that great. I do think that Bitcoin like
relentless buying from the ETFs will just make sure we don't dip
much and probably actually I think Bitcoin is not a bad long
here. I think Bitcoin, I think, could
just continue to grind higher for a little bit, particularly
into the halving, but it does feel like it's a slightly
dangerous period to hold on to any narrative for too long
because the market feels very jumpy.
Yeah, that's listen like this is something, it's funny because I
know I've been sending you some Chris Burnsky tweets here and
there, though sometimes it's a little more on the bare side.
But I I was reading actually a very interesting thread that he
shared yesterday that Dees was talking about that kind of talks
about this like he's like a long only type of person but his only
it's not even criticism. Sorry I don't know how to say
where like his only like like one of his main thesis is like
why this is not like fully running yet is because we we
have the price action and we have the attention we just don't
have the participation yet. And I just for me like I I
always studied this from like more of a social media slash
media perspective because like obviously like even now with
decrypt even more like we have access to data that like shows
us like the level of participation that we get from
like external links, amount of searches, how many people
clicked on the article about the ETF or how many about an
Ethernete project or this and that.
Like I see it from that perspective and I really like I
really share his thoughts when it comes to like we just don't
have enough like market participants in the, in the in
the space yet to be able to go into a full mania bull run like
you saw what happened with Jupiter.
And and that $200 million which obviously starting to weigh in
on the solan ecosystem side. So for example like NFTS, we'll
talk about them in a second, you know right on on ordinals and
whatnot, but there's they're not really running on on on on
Solana at all at the moment. It's just kind of been stale for
the last couple weeks like we'll do a market report a second
front FTS, but every time we go on it's like kind of been the
same thing, maybe couple sold up, couple sold down.
But on the coins here, Mando, I don't know that's just how I
feel. I mean OV we got.
So I have, I want to ask you two things.
First of all, your thoughts here on the market, but second of
all, what's this like 60 Minutes interview that came out
yesterday with Chair Fed Chair Powell?
Like, did you have time to look into that and what it means?
Yeah. I don't think they said anything
terribly different to what they said at the FOMC last week.
But there were some comments, there were some comments to say
that they definitely expected rate cuts this year.
I think they reiterated there wouldn't be any rate cuts in
March. And maybe there's some language
that suggests that like and we may be thinking about like three
rate cuts rather than six rate cuts.
But again, I think this is kind of like what we spoke about last
week where people just didn't really like, they didn't.
The market was kind of really aggressively expecting for
sooner rate cuts than maybe what we were expecting basically.
That was basically it really. It wasn't really.
I don't think there's anything like surprising or new for it.
It was just a reiteration of the FOMC I think.
Oh, OK, so there's nothing like it's a non event?
Yeah, what? Obi said there is correct.
I don't think he said that much new, but the market did react.
I mean I don't know where tenure was tenure this morning, so, so
it was at 3.8% roughly on early Friday and now it's at 4.1%.
So it's been quite a big move in in 10 year.
But again it's not really that much new.
I think just it's just like a combination of things happening.
The other big, big macro thing to be watching out for and
you'll continue to see. I would say I I I think you'll
see a lot more on the timeline is just how bad the Chinese
stock market is at the moment and this has been like a long
brewing thing, but I had to pick up Chinese stocks were down 8%
on Sunday. They are.
They were down again today, but there was some, there was some
buying from. It's like this big stimulus
package. Remember we spoke about 270
billion of stimulus coming through.
People are getting very bearish on China.
I think January was like one of the the biggest outflows for
Chinese stocks. It is about I think about 2
billion left from foreign investors.
So a lot of foreign money leaving.
They're trying to ban short selling.
They're trying to prop it up by the central bank and by.
Wait, they're banning short selling?
Well, they're banning it without saying that they're banning it.
They're making it very, very difficult, very difficult to do
and just generally it's like it's people are going to get
worried about that. From a macro perspective it's
been a long as many things driving it.
But it's it's mainly it's the it's the it's the real estate
market and just just the effects of a shrinking population on
what people assume is going to be massive growing demand.
I mean, Evergrand itself owes owes the market or owes
financial participants about 300 billion.
Fuck. And it says it has 200, about
250 billion of assets. So in that sort of scenario when
you when you owe more than you your assets you have to go into
to to bankruptcy. That's what Evergrand did.
But like we don't know, we don't know if it really does have 250
billion of assets, it might have like 50 billion of assets.
Like they've valued a lot of this property at a very high
level for a long time. And it's not just evergrand,
it's it's a there's a very, very prominent shadow banking
financial position called zongzi down and it's very similar like
they're going down and it's very clear that liabilities are
higher than their assets. But these are.
Institutions like 300 billion is is pretty big for evergrand to
go down and you're going to have about no, it seems like they
right now China is is basically trying to merge a ton of its
regional banks. So basically what happened in
the US you know when all the regional banks had issues,
China's had to go through and go through all its regional lenders
and just merge them all into one because it's having such a such
a disaster right now with all this bad, bad assets on the
balance sheet mainly from the real estate sector.
So this is this is like 2008 for China like this is a housing
market exploding in China and everyone realizing that they
have really bad yet essentially and really bad assets as well.
So and it's a slow moving car crash that doesn't really get
better. Like this is a Chinese
population that people if you if you continue the the the stick
like the the current projections like it's a population that
could drop 50% by the end of the century.
So yeah, like it's it's a really, really, really bad time
for for for Chinese property right now.
And there isn't really that much of A light at the end of the
tunnel. Like it's just a lot of bad
things are still going to have to happen Now.
The other side of that is like one of the big bets of Bitcoin
and and and crypto is that things will continue to.
You. Know go wrong and the the number
one policy will be that we print money and and we bail out
everyone and that that matters as much in the US as it does in
China. So if China's doing that and
it's pumping and it's printing all this money, which is?
Gone. And you've got to have, you
know, Bitcoin's the hardest, hardest asset out there.
Ethereum is the hardest asset out there.
So this is still, I would say, not terrible for crypto, but
that you can have bad correlation at times like this.
All right. Well, that's a that's a really
good market round up here, especially on the China side.
This is crazy. I know you've been talking about
it for a minute now, but this is like looks like it's not getting
any better at the moment. So hate to see that the other
big runner here on the market side was Link.
What's up with Link? I mean, look at that.
I mean, nearing $20 now there's the Link Marines, you know,
they've been accumulating forever getting, you know,
getting rewarded here. Love to see it.
What is there? Was there anything going on
there? It's just like something that
was just bound to be to accumulation over time.
No, nothing really. I mean, it's been a, it's been a
accumulation. I mean, it was trading around
7:00 just a few months ago, like 6 months ago, right.
So it's it's done about 3X and you know the the the big link is
like a piece as in link is an Oracle.
So with an Oracle it just they provide a lot of the data which
isn't online. Oh, I think he's driving through
somewhere with a poor connection.
Hello. Oh yeah, I've got bad connection
now. It's all good.
Don't worry about it. Yeah, we hear you.
Basically Link is behind like everything so.
Yeah, link. Right.
Yeah, it feels like. It's a lot of talk that it's
going to be, there's going to be a lot of talk, it's going to be
used to power a lot of black rocks movement into the crypto
space. So people are getting very build
up. On the other hand, a lot of link
is owned by the foundation and they tend to sell it on every
single pump. So no one really trusts link
pumps. Like even over the weekend, the
The Link Foundation was selling a ton of Link look like.
These foundations, bro. These foundations.
You know what? Not buying any tokens from any
foundations anymore. I'm just kidding.
It's like the ways every single crypto company set up.
There's no choice. All right.
Well. You know, we'll see what happens
on that front, but love to see. I just, I just love seeing Link
pump because like I know a lot of people hold Link in space and
it's in the Link Marines like probably like your fork right
now. So that's been running.
One other thing that's been running for a minute now is Ron
like Ron went all the way like 3-3 I think obviously top loss
today, but like that's after like a massive gain.
So take that with a grain of salt that's been going on
personally speaking just waiting on this pump protection or
plunge protection mind you OV thank you for reminding that to
stop on on Jupiter. So we'll see what happened
there. Just quick recap though.
Another thing that happened this weekend on the corn side, there
is some beef. There is some beef.
I'm noticing there's there's there's the two dogs with hats.
Now what's going on OV you are the dog with hat resident
expert. I mean look we may as well talk
but this is we're talking about a token.
I want the half a billion dollars.
And that's we're seeing. I'm having like Pepe flashbacks
here, like I'm, I have full PTSD.
What's going on? Yeah, so the person, I wouldn't
say the person that created the dock with that meme, but one of
the original people who just made it popular or whatever,
Yeah, exactly. They seem to have come to the
market and they tried to like claim they made it and they made
like a version of it on ETH and they tried to pump it, but like
a bunch of insider while it's sold and kind of like dumped the
whole thing really. So I don't think there's really
much more to it. Like I think the original meme
was like posted by someone on Instagram just how like someone
owns like the original Doge meme and they mean a meme coin out of
it. And it feels like to me maybe
like some shit coin devs got a hold of like the person and was
like hey, you should just do this.
And then the shit coin does basically are the ones that made
all the money out of dumping. And then they've left this
person, this poor person, poor, I don't know poor, not poor, but
this person with this coin and that's basically it.
So he had a bit of like faff with that over the weekend but
it seems like that coin is is has almost died.
I think so. So.
It went all the way up to how much it's still they pumped.
They pumped it to 30, I think, and then it's dropped to about
10, pumped to the 30 on like the first a few seconds, then
immediately drop back down to 10, yeah.
And then overnight it's down another another 50%.
Wow. OK, that was crazy.
I I usually that turns me off from a coin, no matter how much
I like it. Like to see something like that
going on. But we'll see how what what
happens? What's the real whiff at 2:00?
Real whiffs at 2210, Yeah. To 11, yeah.
Two, I mean, still strong, if you ask me, especially after the
whole Jupiter stuff, like a lot of meme coins got decimated on
the Solana side, and it seems like it's holding out pretty
well. So we'll see what happens there.
But that was, man, a lot of stuff happened this weekend.
Like sometimes I talk about something on the Monday morning
and it's funny because that dog whiff thing feels like it was
too a single and we're already over it.
But it really like it happened Friday, where it's a the
original, it's a gamer, right? It's a big Fortnite gamer and
has a large audience that posted the meme and made it popular in
20. It was like years ago, then came
and claimed that said he got nothing out of it.
I mean, it's not like it's his dog on the picture either.
And then created one on ETH and then it it became a whole ETH
versus Solana thing, which was funny to watch.
They didn't play anything. I've been quite a kind of off
the charts in the training for a minute, so it kind of feels
good. I'm not gonna lie, it's it's
been it's been great. You know, I didn't know the
price of of of Bitcoin ether soul until we started the show.
Pretty. I usually wake up, turn my alarm
off and open coin market cap. I just like knowing the price.
But lately I've been closing everything.
It's been feeling, it's felt. It feels right.
It doesn't feel like this environment for trading at the
moment. I don't know, it just feels
weird to me. But it seems like lots of lots
of opportunities all around the space.
And then quickly, I mean, look, I see G money's in the studio.
I'm going to bring you up in a minute here.
But the other big stuff that's happening on the timeline that
everybody's probably paying attention at the moment and if
not you're probably getting it like, you know, shown to you all
day long is Forecaster. Forecaster is popping off.
You know, they've been working on this for a long time now, I
think a couple of years actually.
And this is from Hosev here who wrote seems like Forecaster
Mindshare just hit all time highs DA us going vertical.
So according to Kaitwai it has had more mentions on CT today
than any token in all crypto. So yesterday that was and that's
actually pretty accurate per my timeline.
I saw everybody start you know going at it pretty hard.
But it has been getting it has been getting a lot of of
attention on there and there's a lot of people you know getting
around. I personally spent not an hour
yesterday night just like reading different threads about
it, compiling different threads and stuff from different, you
know, people that wrote about it.
We're going to put a little deep dive right up about it on the
crypt probably for you guys to just be able to see it there.
But I I think it's something that people should look into and
that is interesting. I mean over are you looking into
it yet or not yet? I think it's.
Much. Yeah, I got it.
I set up yesterday. It's all right.
I mean it's just really hard to displace social media platform
and I think most people, I mean, I don't know, I can't speak for
everyone, but for me, I'm just too busy to post on more than
one platform, right. So I don't really care about
growing my Forecaster. Like if everyone uses Forecaster
then I will use Forecaster. But at the moment it's just kind
of like, I don't know, I just I hate, I hate these new platforms
where we go on it and everyone's just like you can tell it's just
like a land grab for people to have another crack at like
trying to like dominate it and you just it just it's just like
Max cringe the content on it. So I just find it really hard to
read it and I just, I don't know.
I just can't really be bothered to like post on X and then post
on podcaster. So it looks all right and I
don't really understand, like maybe you can get an air drop
and all that stuff, but I think it's going to take a lot more
than what they have to replace X in my opinion.
Yeah, I mean, I think what I like about Forecaster right now
is people are not chasing the AirDrop, right?
Like I think what they've done right is they've captured the
attention of people. So this is Warpcast, which
Forecaster is a protocol, right? It's actually a fully
decentralized, like a properly decentralized protocol built on
top of Ethereum. Warpcast is the app that that
I'm remembering his team are building on top of Forecaster to
use the protocol, right. What I find interesting will be
personally speaking. So I was telling Mando yesterday
why I think for example, for you, yeah, I get it.
But for Mando, I'm like, well, he should be having his minutes
on. There, Absolutely, yeah.
Because like there's over 10,000 actual active users daily that
are not there for an AirDrop, meaning that they're mindfully
using it. And it seems like a lot of the
VCs or Ethereum heads, a lot of like the folks that went out
there to start using it because of the noise and the lower
signal content on X to be able to have higher signal content
there. So for me, I agree with you that
at the beginning of a platform, it's like why would I go on
there? The content is cringe 'cause
everybody's trying to land grab, like you said, like the land
grab type of content is super cringe.
But it got to a point where where I see over 10,000 people
showing up every day and I know that all 10,000 of these are
people that could participate in what we're building.
Then I get interested in that. So I think, like, I think that's
when I personally get interested in like obviously like
internally I've told it to crypt or grado teams.
We're talking about some stuff. I'm like how can we build
something on top of forecaster that can bring value or even
help distribute the content that we push daily.
Like, I'm already trying to see if we can start broadcasting
this on there because we're already doing it.
So we might as well, you know what I mean?
Like, that's how I think about these things personally
speaking. And for Mando, I was like, I
wish he was here, but that's what was right into him last
night. I was like, dude, like Fernando
minutes, like, this is literally your crowd.
Like, this is the most perfect place for you to go and dominate
A newsletter that you're already doing it everywhere.
But yeah, for you I get it. Like, it's just different.
It depends on the people. But I definitely think there's a
lot of, oh, G money, just follow me on there.
Let me, let let me follow the man back.
You know, Speaking of G money, let me get G money up on say,
what's up, G what's? Up.
Hey, how are you? Good morning.
GM I I just clearly you're you're paying attention to this
combo so I'm gonna bring you up on here.
What do you think of Forecaster and and and and in general?
You've been on it for a minute. So I've been on it for a minute,
but I didn't start using it till like yesterday or maybe
Saturday. And I I think I'm like, I think
I'm pretty much in the same boat as you guys, right?
Where it's like when you see these new social, like social
media networks are just so hard to displace.
But there's something interesting happening here.
I like, really like the frame stuff.
I just minted something on a frame.
Like. 15 minutes ago and that was really seamless and easy.
And I I feel like, I guess my main question is, and I don't, I
don't know if anybody can answer this, 'cause that was my first
thought was like, what about malicious links, right?
So if like somebody posts A-frame, that's like a wallet
trainer, but I don't know if that would happen because maybe
it's like a proxy wallet that does the minting, but I'm not
sure. But it was just, I thought it
was interesting. It's cool.
That's interesting. Yeah.
And for what it's worth, like for the digens, there's some
stuff going on token wise too over there.
It's just, I don't know, I just look at this.
You can. I don't know, I just find him
super interesting. I know.
I would love to call him leisure.
He doesn't like it, but he's been very active on there.
Where did you mint that frame? I kind of want to go through the
process here. Here, let me let me.
See. I wonder whose frame it was.
I'm just so curious. It was.
It was the Coinbase. Here, I'll drop the link.
It was like the Coinbase Institute frame based institute
frame. What do I drop it to?
Do I drop it in this private chat?
Yeah, that works. Yeah.
There's just so much going on. There, did you?
Did you link your? Wallet yet?
Not yet. I will.
I'm not gonna go. I don't.
Know if you'll be able to unless you link your wallet.
So I had to link my wallet in order to do it, but then once I
did it, it's literally you press claim, Yeah.
So you go claim here and you can just like, Oh well, I don't
have. You got to you got to connect
your wallet and then once you connect your wallet you just
sign a transaction then once you connect it then like it was one
quick minting it was it was good cash.
So I also noticed a crypto punks channel and like people are
starting to make channels based on like token gated channels
based on like what people are using what I again like what I
personally like about it. And I said it's like just I see
Dan Romero just grinding his fucking face off and I see
someone that like actually attracted people that are really
interested in the product without enticing them with
points or token. And it's and automatically I'm
like attracted to the platform. That's it.
Like it's very like base level for me.
And then I see 10,000 potential readers, listeners, participants
of a network that we're trying to build and I'm thinking how do
we build on top of it. Then I dug in and was like, wow,
this is literally just another protocol that's being built on
top of a theorem, which again for the theorem heads in here
just goes to show you how much can be built on a theorem and
that a theorem is actually a network that can support
something like that. Like tomorrow Forecaster gets a
million active users. The theorem's never going to go
down for that reason, right? Warp cast could, which is
somewhat some people are like complaining about warp cast
being down, saying forecaster broke.
It's not, it's warp cast is just a centralized tool being built
on top of the forecaster protocol.
So I don't know, I just find it really, really interesting.
And for the creators out there, even artists or people trying to
mint stuff look like you Gee money, you said it, you came,
you minted inline. It's not even online.
They call it inline like within, I don't know, warp cast and they
just find it really interesting. So definitely worth looking into
that. And look, there are some tokens
being passed around like people keep saying, oh here's X amount
of D Gen. token. I don't even know what it is,
just people are giving it around.
So you know. Yeah.
How do I claim my D Gen. token? I don't know.
Is that even possible? I don't even know.
That's the next step of me looking into Farka last night I
took the time to like read all the threads and articles but
like what exactly it is on the protocol level and then like
what's going on with warp cast and next step is like
understanding how we can build on top of it and like do all the
token stuff. But I don't know, it's super
interesting. Like for example, for us we have
a, a, a, our own token. We could be having like a
network of people, just like distributing the token on
webcast to users for reading an article or particularly within
the content. I don't know.
There's there's something there, man.
There's definitely something there.
I think the frames, I think for me, I think the really
interesting stuff is the frame stuff, right, 'cause also right?
You know, like, I think I saw somebody like tweet about it or
maybe cast about it. I don't even know what platform
I read it on. But like somebody mentioned it,
how you know, what if, what if you had like one click shopping,
right, 'cause like right now you can't really buy anything on
platform on Twitter, right? Like, and I honestly like, I
think Elon's probably like trying to tackle that, to be
perfectly honest, right. That's why he wants the money
transmitter license. But like, once that happens, and
I think once like Twitter can figure X can figure that out,
they probably like, increase their mode a little bit.
But right now I think the really interesting thing is like, oh,
like you want to mint your entry to an event just like one click,
right? Like that's, it's like Amazon,
right? One click shopping.
So. It's just everything.
Like you go from having to post a link to a product to you have
to like you. First of all you lose all your
traffic for posting an external link on X which is already
you're you're you're starting with the handicap.
Second of all they have to click on it.
Then they have to go to checkout, add the bag, go to
checkout, add a credit card, add your e-mail and buy it.
There's like 5 to 8 steps. You know it because you saw a
product on forecaster. You post a link home within the
frame, you buy the product. So so OV where it becomes
interesting for you is Red drinks which I saw you produce.
Congratulations I saw the video, it's awesome.
Love to see that but like same for 9 DCC is you guys post the
frame of the product and within Forecaster OV because they have
the wallets connected they can shop the product in one button
one click. Boom.
Like of course like there's the addresses and stuff then for
shipping. So I don't know how that works
but for like a for like a event or for like a product that you
don't have to actually get it shipped ship to people it's a
one click buy. So I find that extremely
interesting and I and I really that's the type of thing that I
that's like sometimes I talk about things a lot on the show
but it's because I want people to start getting curious about
them like I think you should get curious about it.
I have no incentive to push forecaster for what it's worth.
And I, you know I don't think we should have an incentive to push
something that that's native to crypto being built on the
fucking dopest blockchain. Ethereum.
Yeah we love Solana. We love investing in Seoul.
But fucking theorem still theorem.
So I think you should all look into that.
Last but not least also in the social fight world and I'm going
to I want to talk to G Money because that $1,000,000 loan
that's something big here that's oh that's historical.
It's what is going on on friend tech.
I don't know if you guys saw my tweets yesterday, but that's
also on the social fight side. Yeah.
What? What happened there?
Do you know what happened? I I I don't have an in but I
know that Razer posted hot tag frantech so no yuga dot ETH
which is that's why I posted. So that's someone that works
crypto at Coinbase right. They posted hot tag Frantech
should be just become a forecaster frame.
I mean that's kind of a, you know kind of a slap in the face
to frantic founders in the way I get it through which he quoted
Razer said hot tag frantech just say fuck base and become an L2.
So then next tweet was one fucking tweet and my Coinbase
handlers say I have to shut down my Twitter again which by the
way this is not me forming opinion for or against Coinbase
base or any teams like very neutral here Switzerland And
then he's gone. Obviously he deleted his own
account right. It's not like you know the
handlers right. This is the handler in question.
The Penguin. Super cute no kidding.
But that went down. I don't know what's happening at
at at Frontech but it seems like you know nothing's going the way
they want it to go. Like you know the Pancakes bra
thing not long ago. You know, before the token
allocation, whatever being you know kind of shown the door he
was on the core team members, then racer going on and off,
then this. If.
If I after this guys I I I don't see a future of Frantech on
base. Like I wouldn't be surprised to
see it on move to another L2. I don't know what you guys think
here, but I just this is like intense.
Yeah, I could move. Who knows?
We'll see. Like they had, they were sort of
like the first mover with something good.
And then they kind of just like, I don't think they just, they
just failed to capitalize on what they had and that's why
we're in the situation now. So yeah, we'll see.
I don't think moving to another chain just suddenly solves
problems and makes things a lot easier.
And there's an argument to say, Oh well, maybe if it was on
something that was more popular than base it would have done
better. But everyone was using framtech
over the summer so there wasn't really an issue there of chain.
So I don't know how much that really solves or fixes other
than maybe some performance issues if they if they had some
on base, but. No, I don't know.
Yeah, sounds like internal beef. You know, I think that's
probably what what it is, yeah. Yeah, there's definitely some
beef going down over there. Nobody really knows what's
happening. I asked around.
I don't. I have no clue.
I just saw that. Yes, I was like, oh shit, like
it's it's going off. But anyways, G Muddy.
G Muddy, you did it again. You did it again.
Three years ago, 2021, I read a thread from this guy called G
Money. I had no idea who the fuck he
was, but he was just this monkey crypto punk coming on Clubhouse
talking all this big talk about punks and NFTS and I was
automatically fascinated. Then I read your iconic thread
from I don't know if it was N 2020 or whenever you bought your
a punk about how you know at the time you broke a record to buy
this punk and you did it again. Three years later you're back
with a thread you know that announces $1,000,000 USDC loan
originated are against the one and only a punk 882.
Eighteen from G money loan terms 14% APR for 180 days and that's
on Gandhi. I have no links or affiliations
to Gandhi, but Danny Seedfrace has been talking to me about
them for a minute now. He's a huge fan.
I know he's an advisor but he's also been using it a lot for his
personal stuff. I mean G money first of all.
I guess congratulations for that.
For pushing the boundaries non-stop.
And why don't you give us the details about this?
Because that caused a lot of chatter over the weekend.
You know what? Tell me more about this
$1,000,000 loan on your punk. Yeah.
So I mean basically you know my thesis since I got into the
space was how NFT finance was I think going to be like next
level, right. Like I think we're still in in
the infancy and I remember you know when I originally my first
NFT that I bought was a a crypto Kitty and actually at the end of
that tweet thread was the tweet thread I wrote about how I ended
up buying that crypto Kitty and then how I ended up taking a
loan against it. And at the time when I took out
a loan against it, it was a $25,000 loan.
I and that at that moment this is in like at the towards the
end of 2020 that was the biggest on chain loan against an NFT.
And you know, it's just, it was just interesting because I I
have, I'm using the money for pretty much like a bridge
between 2 transactions. And so I was, you know, I'm, I'm
sitting there and I'm like, well, obviously at this point in
the cycle, I want to be long as long crypto as I possibly can,
right. And you know here we are four or
five months removed from an article in Rolling Stone saying
that NFTS are worthless, right. And so I was like well what
better way to show that NFTS are not worthless if I can get
$1,000,000 loan against an NFT, right.
I mean this, this kind of goes back to like the original
argument right, where people were like Oh well right click
save like you know is there any value in something that can be
copied, right. And I think we're we're all here
because we we see that value. But I think when you talk about
most of like the mainstream people out there, you know, they
read those articles in Rolling Stone, you know, CNBC or or
whatever the the mainstream media talks about, they're
sitting there thinking that NF TS are worthless, right?
And it's like I think this is just, you know, if you can get
$1,000,000 loan against something, it's worth at least
double, right? You know, like it.
It's funny because I saw a lot of a lot of the conversations
happening around it, around people not really understanding
how much the crypto punk is worth and be real Like dude, if
that if that punk got listed for $1,000,000, like I think six, I
think 6529 said it. If that punk got listed for
$1,000,000, it'd be sold in a minute.
But a minute, I think. A minute.
An insult. How?
Fast. Yeah, like it.
It be sold in like, you know, 30 seconds as fast as people.
Do right, This is how much it's worth.
Like the last one was Denny's that sold for 7.5 MMS, but like
there's one that's at 4-5 but like at 1 1/2.
Even at 2 million, you'll set it in under an hour.
Yeah. So you know, so I I think it was
more, it was more to kind of show like hey look these things
are worth something, right. And I do also like I'm super,
super bullish on NFT finance. You know I'm, I'm also an
investor in Gandhi and I'm, I'm an investor in Arcade, I've used
NFT π, I'm an investor in Meta Street.
I'm super, super bullish like when you think about the asset
appreciation we had last cycle that was without credit, right.
And so you know what what happens when you introduce
credit into the system. You know that like you start to
see some pretty crazy stuff happen and you know if you're
going to be taking leverage like this is personally I think this
is the point in the cycle where you want to be doing it.
You don't want to be doing it after asset prices of already
like you know 5 to 10 X from from like the bottom.
So you know I just for me it's kind of like a play of I'm super
bullish on the on the cycle where we currently.
But then also you know these things are super valuable and
you know there's a market that's, that's, that's growing
around these, right. Like I think the interesting
thing that that Gandhi and Arcade and a lot of these these
platforms especially these peer-to-peer lending platforms
are focused on right is like how like how can you borrow the most
amount of money at reasonable rates for the longest amount of
time. Because I think what you see on
on Blur with Blend is like I'm never going to post my crypto
punk as collateral there because it's callable within 24 hours
and like the the terms are just too, like too, too much stacked
against the borrower, right. So you're not going to get real
natural lenders there. You get people there to
speculate for sure. You know, think about think
about it as like day trading stocks, right.
But you're not going to get real people with real assets.
Like Danny would never post any of his glyphs on there, right?
Like, it's because you, you want to make sure if you're going to
borrow money, you know, you want to borrow it at reasonable rates
for an extended period of time, right?
Because if you like, I can't sit there and be, if I have a loan
and it's callable within 24 hours, I can't really do
anything with that money. And so like in order to I think
to plan correctly of like how you're going to utilize that
capital, you need to agree to those terms that they need to be
longer in duration and probably better in terms of rates and and
that I think we're going to see a lot of that over the next
couple of months and years. I, I, I find this fascinating
and I love that you know, oh, who's calling you?
Who's calling you that? Was my That was my meal prep
guy. I probably have to bounce in a
minute. OK, dude, I I like that.
Oh. You love it.
Everybody's on the health grind. I woke up this morning, I didn't
look at any charts, but the first thing I saw was OV's body.
You know, send us a little update of how he's still on it.
You'd love to see that you know. But but I you keep it healthy GI
like. That I I mean I'm trying.
I'll I'll say this you've been inspiring me with your with your
everyday in the gym. What do you have 1017?
I'm on 18th to this morning. Yeah.
So, you know, I've been seeing that.
And like, even when I was working out today, I was like,
you know what? I think I'm gonna like, set a
goal of like number of times. I wanna hit the gym this year.
You. You're inspiring me.
So I appreciate that. You know, I my goal this year is
180 for the year and so we're on pace.
We had 15 in Gen. you know we're at 18 total.
So already 3IN Feb, we're Feb 5th.
We've been going at like 7:30 AM.
It feels good, dude. It feels good for me.
It's funny, one of my inspirations with this guy, when
I saw him train for boxing and I was in London during freeze and
I looked at OV just like not drink, just grind, just like
fucking do his head down, just like working all the time and
get buff. I was like, I I want to get
ripped. I was like, I I also want to be
like, because Mando also has been on a health kick like
crazy. Like Mando was like Iron Man,
OK, like this guy is like ripped.
And so I was like, dude, I I want to like get on this kick.
So you know they kept both of them and not me.
So circle of motivation that we got going on here.
You know that's the right I. I've enjoyed it.
Keep on posting them because it's it's been inspiring me.
I got I started working with a a trainer last week and got the
meal prep stuff. Trying to trying to be healthy
in 2024. Let's go.
My meal preppers. Vanessa, she keeps me alive.
So shout out to the girlfriend's wife, he's keeping us alive
here. Listen, Gee, I mean, So what
happens next? I know you got to go, so I'll
keep it short. Like so.
You got that $1,000,000 loan for the people who don't maybe
understand the high level stuff like low level.
So you were you took a loan out for $1,000,000.
How long do you have to repay it?
Blah blah blah like what's next, right?
Yeah. So it has to be repaid in six
months. It's at 14% annualized, so 7%
ish over the course of six months.
And basically you know, it's, I think to me it's like when you
look at I, I was trying to get a slightly lower rate to be
perfectly honest. But when the risk free rate's at
5%, I couldn't really do much better just in terms of most
lenders in the space. And this is what I kind of go
into in that thread is like there's a mismatch in terms of
assets, right? Like we're all here because
we're bullish on Etherium. So nobody wants to lend to me in
USD, They want to lend an ETH. Like if I borrowed an ETH it
would have it would have been much lower but then the problem
is I needed it as USD so I would I didn't want to be short ETH on
my loan right? So if ETH were to pump I would
end up having to owe that in ETH.
But I'm using the the the dollars as USD.
So you know I I think that as the space matures and it grows
we're going to start seeing way more of and I I've tweeted about
this multiple times in the last couple months where there
somebody has to create this protocol or or something where
if you have this pool of lenders that are willing to lend an
eighth in these pool of borrowers that want to borrow in
USD. Like there has to be a way that
you can hedge that out on on the decks right, like through,
through perps or whatever because that's literally what
they're there for, right. Like you have this natural, this
natural market of borrowers and lenders and you have these
people that are speculating that could actually that that's
really what they function as right, especially when you look
at the futures market in in traditional finance.
And so like I just I think this would be such a massive market
and I think the downstream effects of what this is going to
mean for NFTS is is huge. And this is I I'm really excited
that I'm able to kind of partake in this because this was the
original thing that I saw with NFT Finance when I first got in.
It was like wow, like how cool would it be if once you have
these valuable assets you can start posting it Like this
happens in the, in the art world, right?
This happens in real estate, this happens in, in all these
mature asset classes. And once it starts happening in
the NFT space in these purely digital objects like, you know,
I was, I was able to get this loan without having to, to
personally guarantee it, without having to give out my Social
Security number or my earnings, right.
Like, you know, anybody that's gone through a mortgage, right?
Like you know you know how how how much information that they
want and you know interesting things like are they right and
and and compound do this on on the on the liquid side but I
think we're going to start seeing a huge rise of it on on
the the non fungible side as well.
That's impressive, man. I don't know if you have any
thoughts or questions to to leave G on, then we'll give away
the $1000 but it's it's pretty. Cool.
No, I think it's. I think it could be, it should
be a massive market because like lending on just like real world
assets is is a huge, huge, huge like probably like multi
trillion dollar mark. I don't know what the numbers
are. So if your view is that digital
assets grow in value then this market is going to take off.
And it's interesting what G said because in 2021 we had that
massive asset price bubble without a mature or or even
existent finance market for NFTS and now that market exists.
So it allows people to be more creative and how they structure
their positions and how they borrow and lend.
And it also opens up the ability for like a brand new market
participant to enter as well that we haven't had before.
And there's been, there's been a ton of like people, people are
out there literally just lending against NFTS.
That's like a whole business on its own.
And so it's going to give you a lot more liquidity in the
market. I think like where people get
wrecked is when people borrow too much and they just, you
know, try and do some D Gen. play and they can't pay it back
or whatever. And then I think other guys make
money there. But I think it will actually
create a much more liquid market as it matures.
And. It'll be interesting to see.
To to exactly your point, It's funny because I've had people in
my DM since that tweet went out offering me lower rates, right,
Of like, you know, kind of refinancing.
Here we. Go so because like The thing is
I was shopping it around you know OTC for a few weeks and
trying to negotiate the best rate in the best terms that I
could. So it's like it's going to be
really interesting to see this market mature as there's
competition in the rates. You know I it's really funny
because squiggled out was at one point the biggest lender against
squiggles and they were willing to loan really high Lt.
VS at really reasonable rates because they just wanted the
squiggles, right. So they they wanted people to
default, right. And so it's it's going to be
interesting to see this competition but exactly to to
what you said OSF where it's like you know at at some point
in the cycle people are going to be over levered and and it's
going to be painful when when they do that and you know
they're like, oh I'll make a quick double and then all of a
sudden they lose their money and they can't pay it back.
But I don't think we're at that point in the cycle right now.
So like I I think right now is the time when if you're going to
take on leverage and I don't tell anybody, I don't tell
people that they should do this unless they know what they're
doing. I think right now is is the
point of the cycle you want to be taking it out.
All right, Chad, that's pretty sick.
I love that. I love, love that.
I love the quote that you gave by Rolling Stone.
I saw 9059 just pick up on it to him, post it.
But that was great. G Money.
Congratulations on everything and see you in Paris.
Yep. Well, I'll be there.
I'll be at the It's our house, right?
Yes, Sir. Our house, baby.
See you there. All right.
Cool. Thanks for.
Having me. Thanks for coming.
All right. All right.
That was fun. Short notice I hit up G money at
like 10:15 AM. Like, yo, you want to come 15
minutes talk about this small loan of $1,000,000.
So he's dude. He cooked honestly like that is
crazy and and I'd love to see that.
So good for G money. Look, we'll talk NFTS tomorrow.
Proper roundup. Y'all already know what's
happening. You go on D Jens dot dot finance
and get the whole thing.