Yo-yo, yo, what up? What up?
Good morning, good morning, GMG Monday.
Oh baby, Monday starting off quite quite crazy already Fuck
what's the date? March.
Where's my calendar? March 10th, 2025.
Look at that another beautiful day to have a beautiful day.
I got my coast in the house on YouTube today because X seems to
be down all over the world. Tyler Logan, how you guys doing
today? Good morning.
Doing pretty good. It was a big weekend and then
Tyler D house we moved. It's a soft move so I am live
from the new office, but it's March so we are actually going
to. We're going to stay downtown
until our kids graduate, but it's on the spring break this
week, so we're just going to spend the week up in the new
house. I love that.
Congratulations. Thank you, sound might be a
little different I might have to get some dampening pads so just
bear with me for the week but excited.
Yeah, hell yeah. Well, listen lovely Logan, how
you doing today? Hey, I'm I'm doing well.
Glad to be back with you guys. The sun is shining here, so
we've got the windows open. I mean, aside from price action,
there's, there's really not too much to complain about.
So I'm feeling pretty good. It's great.
Yeah. I wish I could relate to
Sunshine. Yeah.
This thing's down completely. So X is yeah X mobile.
Oh my God, the price for coins. Everything's everything's dead.
Dude. It's over.
Oh my God, our coins are literally like at 0 right now.
OK, X is down, guys. So we're not doing Twitter
spaces, we're not doing a broadcast.
We're going to host a quick show on on YouTube today that will
then repost on X. So if you're seeing this, you're
probably seeing this a little later and, and at least at least
we're here. These were showing up.
We're out here. We're going to do our best with
what with what we got, that's for sure.
So anyways, if you're on YouTube and you can hear us just like
share it on X. If your X works me, I'm trying
to post it. I'm not sure I'm getting
anything here and I think Sims also tried to broadcast directly
there and it wasn't working. My notifications are showing up
again. Oh, I have one tweet that went
through. I should have used that tweet
for the YouTube post, God damn it.
So we'll be there anyway, still the show.
Let's talk markets. Mando's not going to be with us
this week. He's got some stuff to or he may
be, he may not be, we'll see. But it's OK because we got Logan
and also we don't have X, we have abstract.
We're live on ABS. We're live on ABS and we're live
on YouTube. So we'll do Marcus, we'll do
Tyler's support 100. There's a lot to talk about.
Recap from the Crypto Summit recap from the weekend.
Oh wow, we've here fucking turbo dumping right now.
Jesus Christ. So that and then let's God damn
it, dude, I'm trying to, I'm trying to keep a straight face.
OK, wow. I'm just trying to think like at
some point I've got to buy something.
I have to buy in the show and then it's like 120 soul is like
free at this stage, right, right.
Are we going lower anyways? So what this this was powered by
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Love this read anyways, Tyler, I'm just going to go straight to
you and then we'll set the tone there and then we'll go through
our topics and everything NFT and crypto analysis, Tyler T on
FOMO, our cause, the kids. Can't yeah folks, crypto majors
falling off a Cliff live here this morning.
We sold off yesterday, another classic Sunday sell off and it
is getting worse. Stocks opening up and down a few
percent here. Bitcoin down 4%, just lost 80 K,
it's at 79 six. It's bad right now.
ETH at 2023 Seoul 1/22 So. 121, yeah.
So we're going down fast right now as as we speak.
We'll get into some of the price action in a second, but this
came against what was a pretty bullish day headlines on Friday
so that the OCC came out and they clarified their rules for
banks engaging in crypto, stay in the crypto custody and stable
coins are now going to be allowed.
So that that's a a landmark shift there.
We had Brian Armstrong announce after the crypto after the White
House summit that Coinbase is going to hire 1000 people in
America under the crypto friendly administration.
At the summit, Scott Bessett came out and said that the US is
going to use stable coins to keep the US the dominant global
reserve currency. So some some very big headlines.
At the same time, Michael Saylor apparently pitched the White
House on a $100 trillion plan where the US would acquire 5 to
25% of the Bitcoin supply, 30 fives.
It's a big mic. He's shooting a shot.
And then this morning right before the show, another $21
billion equity raise for MicroStrategy to buy more
Bitcoin. So he's got big plans a few
other headlines. We saw Singapore Stock Exchange
set to launch Bitcoin future contracts and then BBBA, the
second biggest bank in Spain. They're opening up Bitcoin and
Ethereum trading here as well. Then other financial services
company in this company fold acquired another 475 Bitcoin for
its treasure. They now hold 14185 S some big
macro headlines zooming in on tokens and protocols.
Myriad. Geez, it's merit token coming
along with a very successful first weekend for the USDC
markets. I think over 150,000 created.
We're nearly there. Weekend, so we'll take a look at
that. Bubble Maps announced their BMT
token. TGE is tomorrow, folks.
March 11th, Maple Finance announced that Bitwise made its
first institutional D5 trade using its platform.
And then Kaido announced a new fast track option for for new
Launchpad projects and AIAI tokens are down another 10% or
so. We saw Arc announced a new App
Store for AI agents and then Grok.
I know Logan followed this once again this later in the show.
Grok used Clanker to launch several meme coins on base this
weekend. So Grok that the Twitter AI is
launching meme coins, though with varying degrees of success.
We also saw this Cocoro meme coin from the family tied to the
doge meme that ran to 100 million this weekend.
Back to 25. And then please, Judy Vance, he
acknowledged the meme. Saw a little bit of a spike
there, but I think it's sold off here again this morning.
It's the market, it's not the meme.
Yes. Yeah, because this meme would be
100 mil if it was like 3 months ago for sure, but that's
interesting anyways, so lots to lots to talk about here.
No exit seemingly still not up. So we're going to we're going to
have to to roll with with YouTube only for now.
It is what do we even start? I mean we start with the market
first and foremost I know we don't have mendels today, but
still I mean guys, when does the bling stop?
This is like I keep drawing lines lower literally I'm not
kidding on soul. I just added three more lines.
It's I just keep adding lower lines.
I don't even want to look at my Sonic position right now.
Yeah. Probably not.
I think I've started to see a shift finally where people are
acknowledging like what Besant is saying, what Trump is saying,
and that they're going to do this market detox.
And I feel like more folks are just realizing that.
And I don't know what that means.
They're they're selling, but I think there it's like some level
of maybe capitulation is the wrong word, but this is like
acknowledging that yeah, OK, we're we're going to go lower.
I don't know where the where the bottom is.
If you like, Bitcoin probably has the strongest bottom of them
all. 23K. It's going to lose 2K again
today. Seoul.
I think I've I've heard 80 tossed around quite a bit for
Seoul. I feel like that would be pretty
jarring. Nasty bro.
If Heath loses 2K, what's the next level 15?
115 hundred. We talked about that last week
too. It's here.
There's no levels till 1500 then 'cause you're.
Losing 78 What's its level 70? 73.
OK. And then 69.
Let's hope your lines hope. Let's hope your lines hold up.
I mean, just basing it on this right?
Like just said, previous highs, that's it, right?
It's not even, I'm not even a trader like that, but just
basing it on whatever, you know, it's just mental levels at this
stage for me to try and buy dip. I just don't know if I'm buying
here yet. I'm tempted.
I'm really tempted right now, like really tempted because it's
Monday. We already dumped yesterday.
Crazy. We're dumping today again.
I'm so tempted to buy crypto right now.
Probably short term though, but tough to call.
Yeah, if you, if you're looking for like near term like scalp
trades, then I think you know, looking at Monday lows.
Yeah, I'm going to wait for Monday evening.
Closer to, closer to like the close probably.
The problem is it's like, but like if you're not scalp
trading, I mean, I hate to say it, but it feels like we're just
going to keep going lower. Yeah, it's it's grim, but that's
that's where you this is where you DCA, right?
Like if you've got the money and if you can, you have a long term
approach on in perspective on this industry.
And if you believe that, you know, it's just a short term,
near term pain for long term, you know, you know, pump like
we've talked about before on the show as well, then this is
actually where you start. Your DCAI can confidently say
that like you can start. I'm not saying go all in since
you start your DCA here. Yeah, and and you said it's
grim, but like I want to be clear and use Mando's words like
this really feels like it's a macro sell off and not a sell
off, right. Like the the bullish headlines
keep pouring in. Like the OCC one was huge.
You were at the White House summit.
I I want to talk about that with you as well.
I mean, look at the SPX again. Yeah.
So it's definitely not us, right?
It feels like stocks are finally going to correct for the first
time in a while. I don't know how low they're
going to go, but if stocks going down another 10 to 20%, you have
to assume crypto majors are probably going to go down in
line. Wow, Tesla fell off a Cliff.
This is down. It's closing on 50% drawdown
from the high. One of us.
And that was a consensus play to be the the one of the biggest
winners of the Trump administration, right?
Like given Elon's role. I mean both Tesla and Dozer are
not really pumping. He's got to be pushing that in
in Donnie's ear a little bit, isn't he?
Because, you know, Trump has said that he's not paying
attention, but Elon's got to make sure that he knows what,
Tesla's 60% off the high or whatever.
I mean, at some point, like, Elon has lost quite a bit of
wealth, right? Yeah.
And it's going to continue. He's he's he's abandoned
Twitter. Twitter is a non functioning
platform although. Still working now it's live.
Are we live on X right now? Oh, we're back.
OK, we're back. I think.
I think we're back. Let me see.
Oh, we're we're live on X. OK, fuck it.
Let's go out and post this. I take it all back.
I'm just not, I'm just not going to launch the Twitter Spaces
today, but we're live on X. Yeah, No, no spaces.
Anyways, you were saying? Yeah, the Elon, it's well, like
I mean Tesla stocks down 50%. So like this is not just crypto
Bitcoin. What's Bitcoin?
Down 2028%, roughly 25% high. Something like that, yeah.
Near 30 no. Yeah, closing in on 30.
If you go picos nicos, Nico top, you know, type shit, you're -27
but that's like really like what like from like, you know, let's
just say from one O 4:00-ish, you know, like -20 let's say
2012 25 percent 2425. Percent.
I will say what's keeping me somewhat sane during this drill
down is I took your advice on Friday and I shorted ETA so I
went. Yo ho, that's.
Good at $0.85, it's at $0.69. So if if you pull up that chart,
that's one that made the IT, it had that large pump from
basically 66 level all the way to $1.10 on the on that
basically what has now come out to be fake news that it was
going to be included in the US. He wasn't even at the summit.
And like, they basically came out and said, yeah, we just
included that in discussion because it was top ten.
We have no plans. So that entire pump should in
theory be erased. This is going, yeah, this is
going back right here at least. And I'll probably close there.
I think that's my current plan. It was a great short, yeah.
I hate being on the short side, but at least there's.
Yeah, but you're shorting vaporware so it's OK.
Damn YouTube people are going to hate me, bro.
I, I, I just realized we're talking to YouTube audience.
Fuck. What about this one?
That's an incredible short too, if you want.
Fuck. XRP scares me a little bit more
just because I feel like the XRP army is is stronger.
Yeah, but there's so much air to 0.
Where was 0. There is, There really is.
The problem is short is to double your money, the coin has
to go down 100%, right? No coins ever going to go down
100%. Is that what it is with a short
position percent? Yeah, 50.
Percent your leverage right so like I.
Depends on your leverage. Yeah.
But the upside right that's. Much bigger.
Yeah, looks like we're we're getting somewhat of a bounce
now, but we'll see how much it's how much it survives anyway.
So the markets are shit. What else is going on?
Yeah, I'm going to I'm going to post the the show.
Here, Logan. Well, Tyler does that.
How do you feel about this market right now?
Yeah, you know, I, I feel OK. It's not great.
Of course, I don't want to kid anybody and, and make them feel
like I'm super, super comfortable.
But, and it's, it's cliche, but been here before, you know, so a
lot of these things I've been fortunate to stay off of
leverage and those, you know, those instruments that can
really get you in trouble. And so it doesn't feel great,
but it's much better than it could be waking up every day,
right? Like I'm not feeling any pain or
sweating over positions, just kind of holding, you know, the
Bitcoin and other stuff that I have.
And whatever happens happens, it'll go from there.
I'm here with everybody else, so.
Unit for the friends and the tech.
Exactly. Looks like Tyler's kid wants it
on as well. Let the kid on the stove.
We're just we're just off the rails in in our entirety here.
Looks like Tyler's kids. Are your kids excited about the
new house? They must be.
They are very excited. I love that.
Damn, I I thought we bounced here, but we're still lower than
79. Yeah, looks like honestly, I
hate to say it, but it looks like that 73 is more likely than
than we thought at first, so we'll see.
I saw great meme this morning by Raheem.
I'm going to share it with you guys.
You guys are going to laugh at this one and let's go to some
topics. Crypto DJ is realizing the bear
might be here. Oh God.
Embrace the bear. Just like it is go real video.
Oh. God, go up to the post right
before this. That's a wild one.
Scroll up. This one this.
Is the This is the Hopium post? This is the biggest hopium right
now. It's not just Raul sharing it
so. This is everyone, Zero Hedge,
everybody. The M2 versus Bitcoin chart, but
like the problem is I keep seeing this shared on like
different, different time horizons.
So like they'll keep like on this chart has the M2 with A10
week lead and then like I I've seen it with a 45 day lead next
week is going to be with a 12 week lead or with a 16 week
lead. So we're just going to keep
drawing these lines and until the the chart makes sense.
I think what's I'm not an M2 expert.
I want to say that M2 is going up because of China printing
money and and not the US. And like China stock markets I
think are doing well right now, while the US is going into
decline. Like a tale of two markets
playing out. And this is more Mando's area
than mine for sure. But I guess like it kind of just
feels I'm a guy who likes us. Hope I am.
So let's be very clear about that.
This one, I don't know, it kind of feels like the estimate a
little bit. And like I, I understand that
the M2 supply definitely matters, right?
But there's clearly other factors at play right now.
Yeah. Trump and best not trying to
drive everything lower to to get rates lower feels like it's it
matters more. I have no opinion on that
because I just don't know enough.
But even then, if you follow this chart, we're going a little
lower. I actually know we're here now
technically because that's that, that was shared yesterday,
right? So we've reached that 80K point
like the M2 here. If you follow the M2, this is
the bottom. Yeah.
And I I saw someone confidently predict that like March 25th
will be the bottom based on like the 10 week time lag or or
something. So what the fuck dude?
I have no idea what this stuff means.
No one knows. Nobody knows.
It's prerogative. You know what?
Ironically, the thesis that we laid out months ago on the show
is playing out. Tyler.
Nine months drop until June. Literally I call this chop
though. This, yeah, that's not chop,
but, but maybe it's not chop but it's like, you know, recovery
then. Chop all the way back to the
prior high. So what was the prior high 65?
69. Yeah. 69 I.
Mean that feels very We just keep grinding lower until we get
down to 69 again. I mean, do we think this like
lower and then double top September, October, let's say
around let's call it 140? That feels a lot.
That feels soon, September. It's a little soon to me, I.
Mean it's not soon, September, October brother where they were
in March. What do you mean I just?
I, I, I don't think this detox that Besson keeps talking about
is, is going to end in a month. Like that's not a detox.
That's like a a a quick break. I think there's going to be
longer pain. I hope.
I hope not of. Course you know what I I haven't
seen referenced in a while is the the Kobe tweet about how
much how painful it would be from like what 80 to 100K or.
Whatever. Yeah, he, he told us.
He said it's going to be painful from 80 to 100 Ki think we got
over our skis a little bit excited because the 100K felt so
much easier than it should have felt, right?
And then he said, well, I don't, I don't know the exact tweet,
right? But it's like the 100.
I found it. I found it.
The hard road goes from 80K to 100K, but we got that one easy.
The easy road goes from 100K to a 50K so.
I would argue there is a chance here if you if you want to be
super serious about this tweet, which who knows how much ship
host is in this or not, but there's a chance here.
We're still playing this hard road 80 to 100K.
Of course we we breached 100K to what one O 8 or something like
that, but like that's still within a standard deviation of
what I would call 100K on this post.
So that's when I need my opium because the M2, none of that
stuff TA that doesn't do anything for me.
It doesn't do it doesn't do anything for me.
I come back to this tweet and I mean, I, you know what?
We're just on the hard road right now.
Honestly like none of this like even the TI find it so stupid I
just keep drawing lines lower to convince myself to buy.
Whatever we need confirmation bias for, yeah.
Yeah, it's just to make myself buy.
I make a line, I'm like, oh wait, it's there.
I'm scared of that line, so I should buy it.
That's how I see it. Like the 129 was scary when it
was 290. Right now we're there.
That means I got after the show, I got to buy a tiny little bit
and then I'll draw a line lower and if we hit, I got to buy
another tiny little bit. You know what I mean?
And here's more focused on Bitcoin.
So like there's the whole mindset of, you know, buy when
there's blood in the streets, buy an extreme fear.
We hit extreme fear a week ago and now we're lower again,
right? So like there's more nuance to
this. Like we're like, we're going to
keep balancing. There's going to be happy days.
There's going to be sad days. It seems like we're going to the
the downturn's going to continue here.
But I guess what's so wild about all of this?
Like maybe let's flip back positive you were at the
freaking White House. Let's talk about that.
Yeah, let's talk about. You get into the White House and
like, what were your takeaways? Who did you have things to talk
to? Let's get into that.
I listen you was funny. I wrote about that, right?
The other I wrote about this because I talked about best, not
best. I talked about Saxon and Bohans.
I put a tweet out about them. Like institutionally, anything
but price action is turbo bullish, right?
Anything about price action, like when I was talking to other
journalists in the room or when I was talking, just the fact
that we were in the room like, you know, with all the other
media because we got a press pass.
Just the idea that like I, I spoke to many different
founders, like pretty big founders in the space, because
then there was a cocktail reception that was hosted by
Coinbase, which was like from like 6:00 to 8:00 PM right after
the, the summit. It's where like a lot of the
summit people went, right? So that's where I saw sailor
etcetera. And everybody's high.
Like everybody's like everybody's really excited,
happy, of course, like they come off a high because you're doing
that with Trump at the White House.
So I understand, but like not a single person was worried about
the price given that they're all also billionaires.
But point being like nobody cares because everybody's
outlook on the future of the industry is positive.
So it was a no press events, obviously no videos, no photos,
but I can say is there was a little Q&A between Brian
Armstrong and, and, and David Sachs and even hearing David
Sachs speak and his outlook on where he thinks things are going
was great. And so you can tell that they're
approaching this the right way. I got to chit chat with Bohans
as well. By the way, dope guy, like such
a nice person. But but it looks like we have
the, I look again, it's my personal opinion.
I think we have the right folks at the administration to carry
the torch forward when it comes to like digital assets, crypto
and all that stuff like in stable coins, etcetera.
But it's going to take a little bit for for it to hit, I guess.
You know, we're still in this like we're honeymoon phase where
like Trump just got it in. He's breaking everything, just
tariffs left and right. Yesterday, like the new party,
Liberal Party leader in Canada came and said, hey, we're going
to go into a trade war if we have to, right?
Like it's like you still have all those like headlines that
are not helping us. But again, I do think short term
pain. I spoke with a very, very, very
big founder. Don't want to name them in case
they don't want to be quoted in the industry.
Let's say founder of one of the top fives and his and I said,
what do you how do you feel about the short term?
He said how long? Three months.
And he said the same thing to us.
He said short term pain for long term gains.
And that's someone who's the lady founder of a top, let's say
top, let's I'll call it top five, top ten.
It's a top five, you know, crypto.
So people excited and, and I think that you're right, Tyler,
the biggest news of that room was what Besant said.
And it's what stuck the most because after the summit, I
asked a few people how they felt about it.
And a lot of people mess it, mess it.
A lot of people talk about Scott Besant and what he said.
That was by far the biggest news.
So it's hard for me to even be bearish when I say that I look
at charts, I mean, I close the charts most days right now, but
the I think this is a good reset.
Luca talked about this yesterday.
I told you about this yesterday. We were focused on all the wrong
things this cycle and it looks like a reset will be necessary
in order for people to be focused on the right things and
and we'll see. I think even someone's saying
retail never bought retail actually bought all the
statistics show that retail bought crypto just retail got
wrecked. It's different.
So retail bought, but when they were buying that cycle, they're
buying NF TS that actually lasted a few months.
We believed in the cool cats for six months.
You know what I mean? Like we believed in the board
ape for a long time, right, still do, but the point being is
the right from zero to 150 ETH on board 8 with a fucking year
long What? I mean the right from for cool
cats for .8 to 15 ETH was a year long, right?
At least they had something to to to believe in and to sell
along the way, right? This is just meme was just and
also, even if they went out of your cool cat bag or your NFT
bags, you had time to scale out at that small loss.
Meme coins, you're up and then next second you're down half of
your money. So retail just got destroyed.
Retail came for trial, but I, I was talking to them.
I, I was talking to a buddy who like he, he runs a real estate
company. So he, he dabbles loosely in
crypto. He's a guy.
I bought the Trump coin and I got rinsed.
Yeah. And that, that's, that's the
story. So retail did come in and
unfortunately they they bought the top and and they got
wrecked. They bought Millennia Melania,
they bought, they bought Malay, they bought Enron, they bought
all the Meteora drops. If anything, you can thank Ben
Chow and that whole cabal for for a lot of what's going on on
the Solana space side of things. Of course you can't blame them
for the price Bitcoin, but you know, if anything, you know,
point your point, your pitchforks that way, because
they're the ones who ruined it for everyone.
But Bitcoin dude, is is just because of trend markets.
That's it. People are bullish, man, that
room was stacked. There's good people.
We'll see. I, I remain, you know, positive
in the long term, but short term it's tough to be.
I still think it's the golden bull run.
I just spent 10 minutes talking about how I think the price is
going to go down for a lot longer.
But like, it's hard to like we, we have to keep saying this
because people keep ignoring it. Like this is the most crypto
friendly administration we've ever, ever had.
Everyone who's running these companies is incredibly bullish
on the future. Brian Armstrong is is going to
hire 1000 people in the United States and these people have
time horizons that are longer than the next corner.
So like we we have to keep talking.
Yeah, well, looks like we we saved the listener.
He said Farouk, he said I was over invested in SPX 6900 last
week. I exited and it's down.
You're welcome. I only said that because you
were telling me that I never speak about your bags and I
spoke about them two days before.
So you pissed me off, but I guess I saved you at the same
time. So now I appreciate you saying
that. I mean, what, what, what is what
is your take away? What's your read on this crypto
summit? I mean, what one thing, one more
thing I'll say is a lot of people expected the whole summit
to be broadcasted. No, the point of the summit is
that it's behind closed doors conversations that happened.
I wish we got to ask questions for the press.
You know what, Trump came, the press got to go in, including
me. That's why I was in the room.
Sadly, we didn't get to ask a question.
So I do wish to receive the old questions from the press because
we all had the really cool questions ready, like myself,
Sandra, Eleanor Tourette, Like there was someone from Bitcoin
magazine, there was someone from Coindesk.
So we all had a bunch of questions ready for them.
But instead, like, you know, it was like a round of like, thank
yous to Donald Trump from different founders, which which
is fine. But yeah, I just wish the press
got to say, say their piece. But we don't know what happened
really in there. I just know there was an agenda.
And even the agenda is not like, hey, we're not we're not going
to talk about how do we pump their bags.
They're going to talk about, you know, different aspects On the
agenda was stuff like digital token, what's the general
security, digital currency, digital commodities vision.
Unleash the power of the crypto industry to grow the global
economy, become bankers to the world, revitalize it, revitalize
it. Sorry, capitalism, property
rights. They're just talking about how
they're going to change the banking system, the real estate
system, all the systems using cryptocurrencies and table
coins, etcetera. Right.
So it's it's that's what it was about.
So yeah, long road 200K it is. I think expectations were were
probably too high. Like we knew that was going to
be a round table going into once again, everyone over hyped it.
But then like my God, like everyone on CT just loves to
engagement farm and and negative post.
So everyone comes out and does their videos and their tweets
about how it was so embarrassing.
And like, I, I feel like that was just a, a garbage reaction
to what did take place on Friday or just the fact that it, it
took place. On a Friday.
And then at the same time, literally an hour before the OCC
is repealed, totally changed 180° change course.
Now banks can custody crypto and get into stable coins and
basically took walked back everything that laid the
foundation for Operation Choke .2 point O, which is effectively
acknowledged as a real thing at this point.
So just four months ago, these companies were literally being
choked out of crypto, and now it's the opposite.
So Karen Venkova said it best. He said, he said at the White
House. So you guys probably heard it on
TV. He said, I'll paraphrase.
We said a few. You know, if you asked me this a
few months ago, whatever. Like I, I thought I had more
chance to stand up in prison than at the White House.
And I actually say that quite a bit.
I said, I always thought there was more chance for us to, to,
to, you know, to get attacked and sue this stuff than this to
build. So as a founder, I, I, as a
trader, yeah, I do a little bit, I'm a little bit bearish from
PA. But like, as a founder, I've
never been more bullish in my life, in my life.
Like never, never, never, never, never, never, never.
It's incredible times to be a founder in crypto.
I totally agree. And, and I noticed the shift.
So like I was hanging out with some new friends in, up in our
new neighborhood and like they, their, their facial expressions,
their, their voice when they talk about crypto now is
different than it was a few years ago.
And I feel like it used to be a little more scammy, like, oh,
you're in crypto now. I, I don't know, I feel like
more people start to see the, the upside that it's more
established now and I think there is a lot of signal coming
from that and it is starting at the White House level right now
like that or or not. You know, unfortunately, Tyler,
I'm, I'm glad to hear you say that about your anecdotal
experiences. I have not I, I that hasn't hit
me and my cohort yet, you know, people that like, so I'm in the
at the age group where folks don't necessarily have families,
probably don't have a ton of disposable income, probably
aren't, you know, doing a ton of investing, you know, of course,
rural central PA. I'm not, I'm still not hearing
the positives about crypto or anything like that.
Yeah. I'm hoping it comes, of course
I'm hoping it comes, but I'm still a little bit of a black
sheep as far as like you know, like my friend group or my
demographic at least, you know, locally, I'm of course, I'm just
speaking for myself. I know there's a strong
demographic of users at this age level in crypto, but those that
surround me, I'm not seeing any increased interest at all.
You know, even when price was going up, which of course
doesn't mean anything tiny sample.
It's just something that I I expected, I expected beyond
buying Trump coin. I expecting people to be maybe a
little more open to buying Bitcoin or something like that
and just those around me and it, you know, it hasn't really
happened yet. Interesting.
Yeah, I think that's fair. I think while they were more
more acknowledging and nicer about, they also weren't asking
me like what they should buy. Yeah, for me it's different.
My friends were all finally got into the space, but that was at
the top. I'm fucking down so bad right
now. Shit.
But Oh my God, man, this is this is a funny, it's weird days.
I'm getting flashbacks from 1 Meadow and I used to host in
2021 on the downtrend, 11 red weekly candles in a row.
And we came up every day on this show and we're like, fuck, like,
how do we even turn this into like, we're like, well, the
timeline is so bearish and so grim.
Like we have to somehow make people feel better without being
like also like woo woo, like and and I'm flashbacks talking to
you guys like we're like, oh, we're positive.
So many good outlooks. And then look to my left screen
and it's 79 four and we're about to lose 120 oz hole and 2000 on
these. And I'm not even going to pull
up my Sonic charger because I'm popping down like high 6 figures
right now. It's OK, I'm just going to
huddle right, Like my spot bags are meant to be held.
But it's just like it's it's hard, right?
And I think it's hard for us as much as it's hard for, for, for,
for, for anybody else. You just got to hang tight,
honestly, like the best thing you can do right now.
And I'm surprised that a lot of people seem not to have that
figured out. Like you got to have like, I
tell people like, you got to buy dips and be like, with what
money? I'm like, do people don't have
jobs? Like, like you guys have jobs
and know that, yeah, I have a job.
Well, but people don't have easy.
Even for people with jobs, man, I mean it's it's not easy.
It's tough days. It's true.
Things are expensive. I don't, I don't mean to poke
fun at it the whole egg thing, but like.
No, you're right. Buy groceries and he's a family.
It's it's really, really tough to.
Do I'm in Canada, I'm. Speaking I I get it.
And I'm speaking as someone who's not doing that.
I I supply dinner for my little brother.
That's about it. I mean, I, I supply for just for
two people in here and, and we're paying a fuck ton of money
in Canada just for milk. I, I get it, dude.
Tyler Dee's household. I mean, I don't even want to
know your bills. Yeah.
Yeah, that's what that's one of those things that scares me a
little bit when we talk about like, you know, there's that I'm
not sure how how strong the the feelings are around the they're
tanking it. So it's cheaper for people to
invest type thing. I, I don't think that's really
taken hold, but that I'm highly skeptical of that.
People that don't invest don't invest.
They don't have the funds to invest.
It's not because they don't want to.
It's not. Because it's true prices.
Are too high or too low it's just like they can't do it so it
doesn't matter if Bitcoin is 40,000 or whatever they're
they're not going to buy because they can't afford to buy so that
I haven't really seen that on my timeline lately it it was for a
brief moment in time and they were like looking to blow things
down. Did it come from Chamath like
maybe others like I saw stuff like that from?
I think it was Chamath. Yeah, that seems like I don't
know, that seems incredibly, incredibly just like tone deaf
in in my opinion. But anyway I.
Will say on the bright side of this is is there's no longer
token mania. So now is the time like where
you can actually spend whatever time you want to go to the
space, maybe start looking into protocols, right, like actually
use some of the apps that are out there and I can like this is
a great environment for Myriad to launch.
You want to talk about that a little bit when Polymarket, I
mean, certainly they caught a huge boom last year from the
election cycle. But also if you remember the
time period leading up to the election was that the most
bearish. Bearish may be the wrong word,
but it was the most quiet months from a crypto trading
perspective that we had that August, September into October,
lol. I go look at the pump fund
chart. It was the by by far the slowest
period of time. Now we're getting that reset
again. So I actually think it's a great
time for for protocols like Myriad to launch.
And for those who are sitting around kind of wondering what to
do, like go, go find low capital ways to start using these
protocols, see what you like and then figure out where you want
to dig in from there. I have a lot of love betting on
Myriad this. Is my this is actually my
favorite time in the market. I it's no, it's horrible to say,
but the chop is the best because you can zoom out like.
You're right though. You can go offline.
I was not online at all yesterday and didn't feel like I
was missing anything Like it's so much more healthy.
You know, it's, it's my gosh, it it's wild, but I but.
We're down so bad. We're talking about health.
It's true though. But you're right though, like
you're right that that's the thing.
Like you're right. I remember last cycle I fucked
my health up. It was during the bear market
that I saved myself. But it's again like 20 lbs.
I can and I can last bear. Let's pull because I was like,
just like boss of the wall, just online 24/7.
So so it'll be interesting to see.
I mean, Mary, I mean, let's talk about it.
I genuinely believe, and this goes to all prediction markets
in general, not just us, that there is a better edge right now
making money if you're you want to trade, if you want to give it
a shot on prediction markets. So I'm not even saying my shit
because we only have one money market open right now, but we're
opening three more this week. By the way, starting today.
We're real. We're doing a Bitcoin price
point for the week over under. We're going to pick the over
under. We're doing another fear and
greed index. So people love that.
So every Thursday from here forward, we're going to open a
fear and greed index for the end of week every Thursday.
So it's going to be a thing now on myriad and we're doing F1 for
for this weekend, for Sunday and then we're opening March Madness
1 as well. So it's going to be fun.
But I genuinely believe that you have a better edge.
And I say that because I actually have the stats in the
pre season USA, no USA points markets, 73% of people won.
This is better statistic than anything that that you have in
the market right now. Mean coins probably what .1 like
I don't even want, I don't know what it is.
I don't want to talk shit, but like there's a better edge here
in prison markets in my opinion. So yeah, we could go there if
you want, Tyler. But it was a good weekend.
We did about we're about to hit $150,000 in USDC volume, so I'm
pretty happy about that. But we hit it, sorry, $157,000
in USDC volume, 3600 traders. So this is some good stats here,
you know. Yeah, so like I'm happy to talk
about my personal story. So I was, I had a nice hit on
the fear and greed index bet and what what I love about like
these markets and, and how there's an edge.
So I started out on the yes side bumping into the weekend.
It got up to 7030 and then I was like, that feels a little high.
We the, the index only updates once per day.
So we knew it was going to update it at 8:00 PM Eastern.
It was sitting at 27. It had to dip below 25 for the
no to hit Sunday morning. I'm watching Bitcoin, it loses
83 K. I'm like, oh boy, if this thing
keeps going down today, I think the no's got a real shot.
And then it goes to 82. I'm like, all right, I'm going
to close the yes side. And if it goes much lower, I'm
probably going to buy the no side and then go lower.
So I loaded up on no. So I basically I had a
profitable trade on the yes side and then was able to hit the
winner. Because it ended up coming out
at 20, but you were around and following this once like ETH
lost 2K. ETH briefly went below 2000
yesterday. And when that happened, like,
all right, like fear and greed is going to go below like, 100.
It was at 78, five, yes, at peak.
People thought that was a lock. It looked like, I mean it was
until the Sunday sell off right? Like it?
It was definitely a lock until. You know, I like prediction
markets. Until it wasn't.
You know, I like prediction markets as as a tell for even
you could use prediction markets to your advantage for trading
because when this prediction market started tanking towards a
zero, technically you could have hedge.
You could have either gone short the market if you believe that
the, the cut, the sentiment is a reflection of the price, or you
could have also sold your positions, saving you a pump a
dump. So we went from 83K84K actually
we're probably 80 fives here. So let's say 79 K.
So on the other flip side, I actually used Myriad once to my
best trade of the cycle was Trump, which now I'm fucking
wrecked on. But I made it because I went on
Myriad. We only had points back then and
I looked at, I looked at what the people thought Trump would
be at by inauguration time. And a lot of we already flipped
those or something. We had a market on that.
A lot of people said yes. So I was like, why do 80% of
people think it's a yes or something?
It is. So I took the trade like with
real money of course, and I cooked.
And so I like producing markets as another metric of sentiment
or something else to make a trade.
Should try that. So so far it's been pretty good.
I just looked at the Trump price.
I don't know. 1082 it's 85% off all time high which to your
point Tyler about folks coming in and buying.
I mean you had to you had to buy night one hour one hour 2 to be
if you held to be positive now maybe.
I mean, no, no, no, no, no, no, you can't.
No, because I have to say when I first saw it.
Oh, it's that. Oh, it's that two Bill.
No, you're right. Yeah, I'm on between. 3:00 and
6:00. Yeah, but it's like 5 four and a
mill is when I saw it first. 1st 2 hours basically.
You're right. Yeah.
First two hours. Yeah.
Two, Yeah. Hour. 2 hour, yeah.
I mean, I think most most people expected this to a certain
degree, not, you know, maybe not to this severity, but like, you
know, you kind of expected it to just sort of lull about for a
while. But this is.
I didn't. I expect this.
I didn't. I don't know.
I Yeah. Weeks I thought it could be like
one of the the big 5 main points I did.
I think a lot of people did. We do have a mark.
We did have a market on that as well.
A lot of people thought that as well.
I forget what it was. We had a market on that.
Like when it held that $40 range, so it shot the 75 looked
like it was going to go to Infinity.
Melania came, it dropped. But then that that week it
started rebounding and it held that like $40 level there for a
little while. I bought some at 40.
I I thought like OK this thing. Could, yeah, we still have that.
Look at this, We still have a market on it where will trump
meme coin rank by the end of Q1. And this is an interesting
chart, right? All right, where?
What's the meme coin ranking right now?
So 70% of people think 4. So that's behind what Doge Sheba
let's. Look here.
You can click here. Right here it is.
It's per the Coin Gecko, so 4. Actually, I don't see Bunk
catching up to Trump here. Even Trump on the way down.
It's going to be 4. It's going to be 3 or 4.
You're right. Oh, it's 5 billion.
But wait, wait, excuse me, what is bunk at?
780 million. Dude it's so bad with this 400
million. I love, obviously I love the
Penguins, but that opened a three to five bill.
That's just goes to tell you the market right now STX IS300.
Let's look at the Mirad list. Oh my gosh I just saw actually
when Twitter finally came back up for me, the 1st post on my
screen was Murad's tweet that said the bounces will be
glorious. Shut the fuck up.
It's hilarious, a poor guy. Sometimes he's gonna lie a
little. Bit well, no, he stole this
book. The Galaxy, right?
No, that was fake. That was fake.
Yeah. The.
Yeah, that one, that was like the first tweet that loaded for
me. I, you know, I don't have it in
me to believe in something quite like this man does, and I fully
recognize that. So I hope it works out for him
because it means good things probably for a lot of folks.
Well, yeah, if it bounces for him, it means it bounces for CT.
Right. But I just, I don't have it in
me and I recognize I don't have it in me.
I will never have it in me to believe in something the way he
believes in this. I have it in me, but not in a
coin in me like in our company, like it's something I'm
building, you feel me? Like, Yeah, I believe in Myriad
the way Mirad believes in his coins.
But I founded the thing. That's a really good, that's a
good thing to be able to have, right, so.
Like believing in a coin that you haven't made that you have
no control of because it's so decentralized, so many holders
and you don't know their personal things.
It's tough to believe it unless it's Bitcoin, right?
Because even Solana like was the top three at some point with all
the rugs that fucked it with externalities that fucked you
and us. So it's hard to believe in
something when something so like Solana was the third largest
crypto by market cap boys and all these things still happen.
Externalities have destroyed it, right?
It's going to bounce. It's OK, things are going to get
better. But it's think about that guys.
Actually do you guys think Solana bounces is hard on when
it bounce when when the market turns around, do you think the
casino is still going to be on Queselana?
It's it's hard for me to think the casino is going away and so
it's going to be on Solana I. Think so too.
But also like it does feel like there's a bit of a cultural
shift in crypto where like believe in something is like,
let's believe in protocols and teams again versus let's, let's
believe in this coin. Can we can we get back to that?
Like genuinely like even though NF TS, a lot of stuff we got
sold was vaporware, We actually believed in teams.
We just were wrong about a lot of the teams.
But when you think about it, if you bet on the right teams, a
lot of teams are still there. Now price is not as good, but
Yuga Labs didn't leave. We didn't leave Azuki didn't
leave pudgy Penguins didn't leave.
As a matter of fact, if you believed in pudgy Penguins
through the bear, you made a fuck ton of money, right.
So there's there's a lot of there's a lot of I really a lot
of people do you guys. There was a main question.
A lot of people saying they didn't have fun the cycle.
I mean, I had fun cycle because I love this place.
I have fun every day in my life. But did you guys have fun this
cycle? A lot of people saying, Oh, I
didn't have fun this cycle, this shit, worst cycle ever.
Like what do you guys think? I'm curious about you two.
It was. Now go ahead, Logan.
Yeah, you know, I had fun. I did have fun, but it was.
Runners. It was a different cycle, of
course, and when comparing to 20/21, it was a lot more
exhausting. A lot more exhausting.
Interesting. So I, I did have fun.
I of course enjoyed it. You know, round tripped a lot of
stuff just like everybody else. But I, I had fun.
I was just tired at the end of it.
I did, I, I had a lot of success in the AI meta.
There was, there were a few weeks there where you could buy
any AI coin between 5 and 10 million and it was going to two
to 5X if, if, if you were deep in those trenches.
And that was, that was fun. That was a fun game.
The NFTS had their brief token era right where we got the NFT
pump back. They're all still higher for the
most part than where they were bear market lows.
I think the Zuki kind of maybe is the outlier there.
Had a couple nice air drops along the way.
So it depends if you were a recipient or not.
Like Kaido came on the board so I had some fun, but also like
everyone got so so tired. So the I'm tired boss meme was
the number one meme. #1 meme. You found yourself posting that
meme. Now is your time to to recharge.
Like I don't want to see the meme again when prices are
pumping in 1/4 or six months. Rest up.
Rest the hell up, because you have your window right now.
OK, I'm glad to hear this. I think a lot of people seem to
have fun. The cycle are lying.
Like for the timeline it's like like shit posting.
It was a fun, it's been fun. The cycle is not over.
We didn't get another pump, boys.
No, I don't. I don't think it's a wrap,
Jenny. Don't think the cycle's a wrap.
You know, I Jenny, don't think as people think.
If you have been here for multiple cycles, you realize how
much of an anomaly last cycle was.
We're just returning to Bitcoin being the main driver.
Yeah, it was it was insane in this whole thing.
I think a lot of I've heard that from a lot of like multi
cyclers. I'm not, so I can't talk like
that, but I've heard that from a lot of multi cyclers that it's
been better. Yeah, no Twitter's basically
because Twitter was rugged. Anyways.
I saw the times slaughtered 11 before.
Is there anything important I didn't cover and if that was
just going to push it tomorrow? I think that that's mostly it
was like we just got some breaking news.
Coinbase is going to launch 24/7 and perp style futures in the
US, So we may have to wow, talk about that tomorrow.
Holy shit 24 seventh dial. What happens to hype price on
that? Where's Hyper liquid at $14.00?
Could be worse honestly. How many weekly Reds did we just
get? Salon is at 123451 green 6-7.
Yeah, yeah. What about the only other?
The only other thing I'm tracking, we talked about it
very briefly on Friday, Tyler, is the Friday night the SI
MD0228, the Solana proposal to change the emission schedule
went live. I was just taking a look off
screen here at the current voting.
It has not reached quorum yet. If so, not enough votes yet for
this to pass, but it is voting at 75%.
Yes, if this I'm just using one data source I've not been able
to to independently verify across a couple others.
So if that's right, this would this would pass and they'd be
moving to a market based or dynamic emission schedule, so
not just the flat time based one that they'd previously utilized.
So some obviously it would have some impact on sole price, of
course, the authors suggested perhaps good.
Others I've seen, you know, suggested perhaps not so good.
So we'll see. But that that's one of the other
things I'm tracking. We'll we'll be talking about
throughout the week. I imagine it's not on my
timeline as much anymore. It was on Friday, though.
Thinking Kobe's tweeting so funny, he said.
Hey guys, big announcement for me.
I've accepted a role as the new chairman of White Dudes for
Kamala. I'm looking for, I'm looking
forward to spending the next four years electing the first
group to president. Thank you.
Too soon. Oh, bad.
All right, well, everybody listen, keep your head eye.
It's a great time to use apps. It's a great time to use new
block chains. There's a lot of them coming up.
I know ABS has probably going to TG at some point.
Definitely not in this market. You have monad test that's
finishing. So there's there's a lot of
stuff going on there. There's a test not happening.
Sorry. You have myriad.
I'm sure fantasy top is still happening.
You have ethos. You have all these different
apps that that there's a road tracing.
There's a bunch of stuff going on in the in this market.
So make sure you keep yourself busy because it's what's going
to that always helps you get get through the thing.
Looks like Tyler emptied his shelf in the back to buy the I'm
in. A new house?
Give me a damn break. Yeah, I need to.
Get this, This is so funny bro Tyler shipped to yourself to
buy. You want me to ship?
You want me shipping this thing for the back there?
Oh. Man, you need a lot of those.
You got to. You got to web through your
background. Yeah, this is my call to call to
action for you Web three companies out there if you want
to be featured on one of my shelves.
Let's go, let's go, let's go, let's go.
I'll send you something. Next up, his kidney.
Come on. Oh my God.
All right, y'all. We'll see all tomorrow morning,
Rainer, Shine, Teddy and Easter Standard Time for the episode of
FOMO. We're on rock radio.
Let's go.