Yo-yo, what up? What up?
Good morning. Good morning GMG.
Wednesday, Wednesday, October 23rd, 2020 Fourth.
Yeah, another beautiful day to have a beautiful day.
I got my Co host in the house, Tyler Mando, GM.
How you guys doing today? Fantastic, fantastic.
How are you? Fantastic feeling great,
actually doing really, really good.
You absolutely love to see this things are popping.
The space is lively and and, and look, I mean look at we're we're
we're not getting this we're not getting this dip yet.
So we'll see if I want to jinx it.
But you know, things are things are looking good right now
across the space. You know, coins are popping and
people a little euphoric. You love to see that, Tyler.
Tyler, how you doing today? I'm doing great and we've got
billionaires pumping our bags on a daily basis right now.
How? How could you not be happy on a
Wednesday morning? Yeah, we do have builders
pumping our. Bags.
Plus you're in the wrong bags and then maybe you need to re
evaluate. I'm probably in the wrong bags
right now, but it's OK. But it's OK.
It always falls back. We're in the Marad bags still.
We didn't rotate out of Marad. Oh, that was you, Mando.
Now I see you nuke my bags. What?
I haven't used anyone's bags. I'll play with you.
I'll play with you today. The show today, today.
Let's see what we got. Let's see what we got.
Well, we got market report as usual, so crypto, micro, all
that good stuff, Bitcoins holding strong, so a lot I'd
love to see that. You know Ethereum, it's just
being Ethereum. We'll have a conversation about
that a little later. Tyler's top 1000.
I'm sure he's only going to talk about goat.
So Tyler's goat. Go talk, yeah?
I want to talk. Yeah, I have a feeling.
I have a feeling this is really. Yeah.
There's a tiny bit of echo. I don't know which one.
Where does it come from? There's a little echo in the
back. Probably nice.
If you just turn your phone maybe it'll stop, I don't know.
Or put like a something over it. It's gone.
But but yeah, it's gone boom. That and then and then and then
and then and then we're going to have the ARB update.
We could do it yesterday, it could do Monday, we're going to
do it today. Little Arbitrum update as usual.
Then we got a robot loot box spin.
Let's see who wins what. You know, reminder, we have
Milady's protocol elements with our project ALS.
We got post our red guys, we got our RLDS, so we got a lot of
stuff in that box right now. And then last but not least,
this show is powered by Galaxies.
With seamless built in monetization tools, Galaxies
enables development of sustainable long term
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centralized freedom and independence from centralized
control. But anyways, anyways, Meadow
Meadow, Meadow talk about this market.
Who is the man macro daddy of the land?
Can you dig it? Yeah, so there's been a little
bit of stuff going on in Mecca actually for the first time a
little bit. We've had all time highs
obviously back-to-back to back like six weeks.
We've actually had two down days in broader stocks the last two
days. And the main thing there is that
we've seen bond yields and the dollar have actually gone up
pretty substantially. So a lot of people have have
been seeing the idea that we will that inflation might
rebound. I'm not too sure if I agree with
that sentiment, but that's that's become slightly more
consensus that we're going to see inflation rebound.
The 10 year yield has gone above 4.2 to four point.
It's around 4.2 to 4.3% at the moment.
So it's a big, big move back higher.
Remember it was, it was comfortably below 4% for a while
there. You have pretty some of the, the
best known traders in the whole world, Paul Tudor, Tudor Jones
went on TV yesterday and said that all roads, all roads lead
to inflation. You've had Druckenmiller also go
on and say something similar. Yeah, like a lot of people now
pointing towards inflation coming back.
I think the hedging the, the put core ratio on on, on Treasury at
the moment is, is the highest it's ever been of sorry, highest
it's been in 2024. So the hedges against bonds
going lower, IE yields going higher, it has been, has been
rocketing. So and that's caused the dollar
to rebound. So the dollar's actually also
having a very, very strong goal period here.
It's up 4% just in the last month alone.
And the yen as well as is looking weak.
So the stuff that we kind of saw in the first half of the year
really has kind of come back a little bit.
And the yen is, is, is looking particularly weak, which is last
time led to some sort of intervention.
And we haven't really seen that happen yet so far.
And higher dollar normally would lead to kind of lower, lower
gold, lower Bitcoin. But interestingly, most people
are pointing to a higher dollar here because of run like out of
control inflation or debasement. And that's actually led to like
relatively like gold is still going higher, like gold is
heading towards 2800 and hit 2700 just a few days ago.
So like and that's an asset that does not move that that often or
that quickly. So what you've seen is a rally
in commodities even with a higher dollar.
Bitcoin, I think slightly ran into a bit of a wall on the back
of that over the last 24 hours just because of the strength in
the dollar. But I still think it will be
something that people will will look to buy on that because
people still view it as an obvious inflation hedge.
But yeah, Bitcoin dropped below 66 K on the back of that.
Stocks have seen a little bit of weakness, just people get a
little bit more worried about like what's the best inflation
hedge in crypto. What we've what we've seen
really is that bitcoins headed lower obviously continues to
underperform. It's the whipping boy of the
majors. Solana has like decently
outperformed and I think there's two reasons for that.
Number one is the huge amount of DEX volumes that are going
through again. So what you have seen is the
resurgence of with these AI coins and meme coins, there's
been a resurgence in in Solana decks volumes and Solana fees.
So we used to see this a few months ago, but Solana's
regularly flipping ETH for 24 hour fees.
A lot of the individual protocols on Solana are flipping
ETH equivalents and a lot of people getting bullish back back
again on, on this sort of stuff. The real economic value, I think
it that's an all time high for it right there.
So big, big, big, big rebound in Solana activity, which is
driving, driving it pretty significantly higher.
And it's been outperforming quite a lot.
So Solana looks like it's heading back towards like 170
even with Bitcoin lower and it lower.
So pay attention to that. Like we haven't seen Solana
outperform for a couple of months, two or three months now.
Yeah. And then now it's outperforming.
It's not, it's not just outperforming because the chart
looks good. It's outperforming because of
real stuff going on there. And I think the other thing is
people are getting bullish on AIA lot more like, and yeah, the
GOAT meme happened on, on Solana.
But I think more, the more obvious thing to look for here
is that you could see, you could see Solana dominate that sort of
activity if it starts to pick up meaningfully.
So AI agent or it's. Had to burn.
Right. Yeah, so.
Yeah, the burning music, it's kind of what you were talking
about yesterday. It's actually burning a ton.
Yeah, so this is a real reason why.
It's why. It's why it's rallying.
Some money. I was I kind of felt like it
would get caught up in the infos, but I I moved all of my
Bitcoin back into Solana and into oh wow and into GOAT yes
well, this. Was Mendo and.
Then I moved and then I moved. This was Mendo.
So I earn 0 Bitcoin right now and just Solana and Goat put in
my major's bag. This is called the Mendo candle,
right there. He moved a $80 billion asset,
just so you know, like we're playing well games.
This was Mendo's candle. Yeah, I just, I just feel like I
just pay attention to this sort of stuff and it seemed like a
bit of a narrative shift and, and, and one that I think will
persist. So I, I think I think it's in a
decent spot in terms of like broader crypto stuff.
It's been a bit of back and forth on, on stuff around the
SEC that feels like they're not going to, they're not going to
let sleeping dogs live. It came out yesterday with some
more like aggressive commentary about what they're going to do
to crypto in 2025. There was some headline around
India maybe banning crypto. They kind of.
They already slightly like you can only read like it's very
difficult to to trade or on board into crypto without
centralized exchanges in in India, like the vast majority of
users use centralized exchanges. So it's already kind of like
slightly controlled, I would say, but let's see what happens
there. They have been exploring CBDC
for for a while there. Nothing else there that would
move markets. Azura, which is like a very well
known D5 raise, look like it launched its platform, which got
a lot of people bullish. AVAC brought out a debit card,
which maybe got people bullish. Sailor said that he was going to
give up all his Bitcoin to civilization.
After he dies. I don't know what that means,
but what? Yeah, he said he was going to do
a full Satoshi, so I don't know if that means he locks his
private keys and but he said he has no kids, right?
Sailor's not married, no kids. He is the ultimate Sigma.
No, baby Rama. So I don't know, but that's what
he said. So, so maybe we won't see that
that Bitcoin ever hitting the market.
I mean, he obviously has some he owns personally and then he has
some he owns. I don't know what that means.
But then yeah, I'll probably just throw out the Tyler here
because it does feel as though the left curve stuff is just,
it's just the main stuff again, like you can talk about mages,
which is like Solana out performing Bitcoin, but it's
really just down to all this AI it's looking.
Good man, that's the Solana chart and everything else
happening on it again, like the the all this AI stuff is
happening on Solana right? So, so it's I love this comment.
Mango has been talking shit about Solana for months now and
then he full port Solana. I love the I love the typo
Mango. I'm AI love the Mango typo
though. It's so funny.
Oh my God, love to see that. Listen, glad to have you back
pumping our bags here. Glad to have you back here.
It looks like you're big on the GOAT stuff.
I mean, let's talk about GOAT for a second.
I don't really want to. It's crazy how we were talking
about Truth Terminal on the show like 3 months ago.
I had like 1000 followers and it is a painful one.
It's a painful one. I looked at the depth.
I looked into it like 200 and fucked it up.
So where, Where's this thing going You?
Know, can I ask maybe like real quick, I know you got it run
like was there a particular tipping point for GOAT that made
you want to enter? Yeah, we've been talking about
it for a couple weeks. So curious.
Response. So is what is what I think we
had a conversation about 3 days ago, right?
Which was like, where will it, where will it top out?
And we both said, you know, when, when the AI makes
$1,000,000 And then it did kind of do that.
And then it, and then it fell back down.
And then, and then that a 16 interview that I saw yesterday,
I was like, it's going to win the narrative battle here.
Like, and it's going to win the narrative battle with funds.
That's what I, that's what I kind of got from that.
And I just kind of felt like that.
And then I saw, I saw the top, if you type in goat, I saw you
even saw it this morning. But like the top finance trader,
yeah, or 4% of the go supplier as well this morning.
And I saw that it's going to be, it's going to be the trade of
the cycle. Basically what I thought is that
like, and I saw I owned it very early on.
I sold it, it went to 100 million.
And I was like, this isn't really a true way.
I kind of prefer to have A and then once it gets that sort of
level where like it's won the narrative battle and like, oh,
this is the first AI coin I think that has normally appeal.
That's basically what I think and whether that gets challenged
or not, I think people will can buy into that and that can like
weirdly have crazy multiple still.
Like I don't think this is the sort of thing.
And maybe I'm like, I'm smelling the roses here, but like I'm not
a huge believer in the in the original story.
I don't think it's like the perfect story by any means,
like, oh, somebody created a coin.
But that story as well, like can become really big if it
continues to get bigger. And I think the fact that A16Z
is giving it the standard of approval and everyone knows,
right? Andreessen, like if you know
Andreessen, he's probably one of the biggest tech investors of
the last two decades, probably the biggest, right?
And if he's saying this is interesting, like a lot of
people, I think will buy it. And so I think I think that
narrative is a is the sort of thing that could take that to
like 3 or 4 bill in my opinion. Like that, that could be like,
oh, wow, like that's like a proper story.
That's just my that was just my or at least maybe put it this
way. I don't see it going lower after
what he often like is that was that a buy at 500 million In my
opinion, I was like, I don't think that's going to go down to
300 million. I think it's more likely to be
like, wow, what are? We thinking this is the this is
going to be the cycles meme coin.
Like, is this the one that's going to like, take over all the
other memes? No, I just think that there's a
few. I the chart just reminded me of
Pepe so much when I looked at it and I remember like when I was
looking at it and being like, oh, you can fade it, fade it,
fade it, fade it. And then when it reached,
because there were so many other Pepe coins, if you remember like
the original thesis of Pepe, it was like, why the fuck is this
the one right? And then it doesn't even it gets
to a point where it doesn't actually matter and it's like,
Oh shit. And I feel as though it's not
quite there yet with goat. But after that interview, I was
like, it could do that, it could do that.
It's so, yeah. My, my, my bet on this is that
it's got the best chance of most over the last few months to do
something like that. Yeah.
Yeah, that, that makes sense. I think a couple of reactions on
my side, 1, as soon as I saw the Mark Anderson pod, a full 40
minute pod like that, that was a big signal.
It, it really was. I think that's harder to deny.
I think part of the reason it's had success early on is because
like you, like I didn't buy the story early on.
Like I, I saw it at 2 million and I didn't buy it because it,
it felt like this wasn't the way this was supposed to play out.
Like the true peril didn't launch the token.
It was launched by the random third party, so on and so forth.
I think you need that kind of like division.
It was not a consensus play. Like you had loud voices on the
timeline flooding it. You know, calling it like dumb,
like this isn't real. That kept it from being a
consensus trade, which I think you need.
In the early days. It had some friction.
And now to your point, I think none of those details matter.
I really just don't think it matters anymore.
You have Mark Anderson calling it pretty powerful.
He he said this is the first convergence of AI in crypto.
That's a powerful narrative right there.
That that's my point that, that that's the second bit of this is
that this isn't when Pepe did this, right?
You knew it was going to be other retail people coming in
and buying it. My guess with this is that like
if he is saying that and maybe crosses the acceptability
threshold for funds. Like I think I'm pretty sure if
you, if you're investing in, in AI and crypto, you've really
just owned Tao and, and maybe like one of the two, the other
like deep in style AI coins. Like, I just feel as though
there's a shot here that, like, some of these guys go, right,
yeah, we need to own this. Interesting, this is wild.
Oh, we meant to full port this thing.
Did you see that finance? Did you see that finance thing?
Yeah, yeah. The type, the typing goat,
you'll see it like. No, I saw it.
I saw I have my notifications on for this guy.
Yeah, I got, I got on a flight and I saw that and I it did just
make me question, was it him? No, I know, I know.
I forget his name. He's the big whiff guy.
He has like a gig out whiff position and gold and every
bunch of stuff. He's the guy that the horse with
the hat. He's a big.
He was like a huge whiff guy. Remember?
Yeah, Nachi, this guy, he's still got the he's the he's big
and go like that's it. He's big and whiff narrow soul
and go like that's his, that's his tokens.
Wow. Go down to what he wrote.
He made like 20 mil on me for some shit.
Maybe I thought about this too much on the on the fly over
here. All right, he made $64 million.
Right. I thought it was just a bit too
much on the fly over here, but I was like, you know what this may
be like? It's actually because I think as
it goes higher, like I can even see it in the chat that we're in
Tyler. Like we're in shared chat.
People are going like, oh, I saw this solo and I faded it.
And like, it's got that sort of. It reminds me so much of when
Pepe did that, Yeah. And it was like 100% same thing.
So and no one wants to buy it at this level, which means that it
it probably goes higher because no one wants to buy it like, oh,
it's going to go to 500 million. Oh, it's going to 600.
Oh, it's and it just has that like, how have I missed this
when I'm in crypto everyday, like like bit about it, like
which I think people felt about with Pepe.
There was a lot of people who played like the Pepe beaters
afterwards or like tried to. That's even like how a bunch of
the coins even this cycle have become big.
But I don't know, that was just my God, I'm I'm maybe I'm
overthinking it. The call was the same.
Maybe I'm under thinking it like part of me just thinks that like
this is the sort of narrative that that that people will that
I now think it's it's just won the narrative battle.
So. Yeah.
I, I think the other part of it is they're so this AI meta is
exploding so quickly and like there are tons of beta plays.
Some of them are doing very well.
A lot of them are like they're, they're soaring on huge volume
fast and then they're dipping For me personally, like I got
burned like I, I lost like 15 trades in a row where all I
should have done was just been buying coat, right.
So I think there's going to be people who have this realization
just like bet on the winter And I, Amanda, you tweeted this this
morning. It's not a new great thanks for
sharing your thoughts. It's not a new thought, but it's
just one that it's it's easy to get caught up playing all these
betas. Or you could just bet on the
winner beta. Trades are are you have to time
them. That's generally what it is.
But yeah, this feels like the A1.
I got to go, guys, but yeah, I'll speak to you guys.
Tomorrow. Yeah.
All right. Well.
Are you ready to pull port goat or what?
I I wouldn't full port it but like this type of coin I'd throw
$1,000,000 at. Not yet, though.
Casually, here's a casual million in the GOAT.
Well, I think we can move on, but like, we're just talking
about betas. I don't know if this is a beta
or not, but the the biggest mover on Salon of the Day was
another idea, another AI token. It wasn't me.
We're going to talk about that. I think have to, I mean 100
million in volume on one day is that.
The one, is that what you're going to mention?
Yeah. Flavia, I tweeted that a lot of
times. A friend of mine said 10 million
and I was like yeah it's already gone up like 30,000% what the
fuck would I buy a beta of 20,000 right?
You know, you see the same. I'm in the exact same situation,
a good friend sending a 10 million.
I've been burning on so many of these.
I'm like, I'm just going to sit on my hands.
And then I actually did capitulate it in.
So disclosure, I bought this around 35,000,000 last night.
I got out of bed to come back and buy this because I, I had
some FOMO. The story is a little bit more
interesting. This isn't just some random like
AI meme generator. So this is from a real person.
Let me try to pull up the, the details here.
I told a little bit of the story on Twitter this morning, but
it's from this person, Trevor Mcfederes.
He has, he has a history of, of creating virtual AI influencers.
So he's the creator of little Michaela, who apparently has
amassed two and a half million followers on Instagram and he's
partnered with Anthropic AI to help build out Flavia, which is
an AI agent. And apparently she is it is
running the the Flavia coin. So it verified the decks.
I believe it's got access to the telegram.
So Trevor's going to let this thing run with it.
And apparently he's got some other plans.
So, so that's the story there. I mean, my God, it's a massive
runner. It's up 100,000% in today, so
it's tough to to enter here, but it's an interesting story from a
real person and not just some kind of, you know, manufactured
story out of, you know, the random AI cabal of the day.
So this one might have some legs.
Yeah, it's a, it's a there's a lot.
This is it's a lot, dude. I I think I would just buy goat.
Well, here's the thing, Mando like he threw it to me for the
left curve part of the show, which which I love that the AI
meta is not left curve. Man, this, like this is a yeah.
Meta is not left curve at all this.
Is a harder meta to play. I mean this is like a right
curve. Yes, or you just go left curve
and throw it at the winner. That's left curve, right curve
play there. But it's, I mean you can't deny
the volume and now we're seeing it reflected in Solana price
action. And I think we was coming back
to this. It is notable that these AI
agents are launching on Solana when they could have picked any
of the blockchains that's. What I was saying like I think
this is one of the most bullish things for Seoul, right?
Like those numbers we saw like the record-breaking numbers
again on Solana probably because of GOAT, right?
Like Pepe was like Pepe was like driving a ton of traffic back to
Theorem right When they first launched to compare it to that,
it was insane. Like you to the point where even
it was impacting gas fuse all over again, which is awesome.
But but now it's like Go is doing that on Solana with was
doing that with Solana. If you remember in Q4 last year,
same time, same time, they were November, December last year
when Solana was really went from like $60.00 all the way to like
100 something. I think it's 2X over a couple
months, maybe more. I remember taking the trade end
of November at 60 full porting sole.
So it was a little less than that before it was in the 40s.
I think it was 38 actually, I think I remember that.
And now you're seeing something similar happening all over
again. And I have a feeling we're going
to see the same place Q4 last year where Solana again probably
smashes through highs, which the highs are like in the two
hundreds to 10 by like let's say end of year beginning next year.
And you probably see a token just like with take off to a
couple billion dollars and with itself, right, like even that
that guy, I I I took a good like I took a gun, like I went back
into a pretty large size width position for the reason that
like even those guys are talking about this.
Like for example, a Nachi guy, right, that Mando keeps talking
about. We got to get 4% of the gold
supply. What does he post?
He posts a goat with the hat. Like, you know, so it's like
that's his literally that's the guy like that man that was
talking about right. So like I do think that like the
like I was saying a friend of mine yesterday, I was like
buying these meme coins and everything trying to rotate into
me was like just like buy the sure plays on these chains,
right? Like for me, like the etherium
sure plays or Pepe Mog. And for me, like the Solana sure
plays a popcat with or no popcat.
But two things. It's a sure play there aside
from the Murad memes, which I think will come back once once
that plays out. I mean, what do you think?
What do you think? Obviously go to see a lot of
heat away from the Murad memes, but you think that like it's
always like this, right? Rotation to new meta.
Everyone's going to buy goat or flavor of the week GOAT, meaning
like the shitty goat, then goat's going to go to billions,
all the other ones going to go to 0, and then you probably
flows back into like the Marad memes, right?
Like what do you think? Where do you think we're at with
these? Yeah, I think so.
I mean, quickly on on whip, everyone wanted to victory lap
the hat falling off, right? I think Ledger most famously
Kobe's old Co host. Yeah, but I don't think it's
going anywhere. It's it's still my biggest meme
coin position. I, I actually took a fucking fat
position in it. So I'm just closing here with
you. Like also like so like I can
move a $2.4 billion thing with 20 minute liquidity.
But I agree with you. And actually one of the reasons
is you, you keep mentioning it and I don't think you're wrong.
When Popcap performs well, WIF tends to perform well.
And one thing I've noticed with WIF Tyler is that it moves with
Pepe and it only moves when Solana stops aggressively
moving. So during this last Solana
aggressive shark move up to 170, which is still there.
It's a 170 right now, 168. What's 69?
WIF has gone down $0.30, which you're like, what the fuck
'cause it was 276, right? And Pepe was also having
aggressive move. They both move the same.
It's crazy to watch Pepe and with just are following the
exact same pattern. So I do think that all like it.
Yeah, pop cast says pop and look, I've never I had pop like
100 mil like I don't have it yet, but I fucking love it like
I I think it is the cat. Like I agree with mirage, like
the cat meme, whatever. I don't know, man, I I think
this is not the time to like sell.
I actually really like what K Money said yesterday.
Let me read you a quote. I don't know if you saw me post
it. I missed this one.
K money's quote what don't throw good money and bad money.
I think it's important to tell people this and that goat is
good money in my opinion right now here.
But what I mean by that is if you miss goat present miss goat
don't have any goat. Let's say I want to buy goat
right now. Sure, maybe it goes up, but this
is not where you buy the third beta to goat.
This is not where you sell your oh whiff is down your Pepe, your
mug, your retardio lock in SPX giga.
I only have two of the 10 Mirad moments or three.
So let's say all the Mirad means somewhere you let's say those
are down. That's up a million percent
somewhere. You saw that to move into that
because once it rotates back it can be fucked, right?
Yeah, I mean, I personally I, I probably donked off 30% of my
with bag over the last year, just like chasing new metas and
for the most part they were losing plays and I lost a.
Couple I lost a few $100,000 from that this summer.
What it? Is it's like throwing good money
something out here just held versus chasing new things And
like, yeah, you you it's tough when you show up every day and
you see the G nods running 100 X in a day, like man, I want
that's the next one. But those are very hard to
catch. I've been I haven't been looking
at on purpose because of that, because I made some big bets
over the weekend slash Monday, like I really made I I re moved
around my basket of coins now a little bit more and and I was
like and now obviously we're seeing some downtrend like
towards the coins I bought. So they're all down right, a
little bit, not crazy, like little down right, like those
coins. It's like mostly like with Pepe
more, I actually bought more mug.
Like I didn't have enough. Nothing crazy, but it's like I
just really like it because I was like, I I played the
breakout, right? So I was like, fuck, it's going
to break out. Because I do think at some point
mug's going to 2X and we're going to be like, what the fuck?
I missed it. Genuinely.
That's how and you know, because that's how I talk about in the
back end, right? And so and so, you know, OK,
it's all down. You know, we have my brain let's
down, you know, my mug's down, my lock in my tardio's down this
and that. But I'm like, that's cool.
My wiff is down. But it's like, OK, but like, I
do think that over the next 10 days going to be up.
So I just don't look at the price action after I'm off the
show. Just leave it up, you know?
Yeah, you know, it's easy to FOMO in and out of things.
I do want to go back to to this to the news though, and and talk
to you about some major stuff. I want to bring up this tweet by
Hunter Horsley, which is fucking massive back.
And I'm still on the topic of billionaires pumping our bags.
Hunter RC is the CEO of Bitwise, right?
One of the biggest ETFs in the in the industry, one of the
biggest gobblers of Bitcoin in Ethereum.
You know, he said this is massive.
This is actually not the post I want to go to, but this is this
is it. So Paul Tudor Jones owning
Bitcoin is a big deal. I would like for you to go with
into like who Paul Tudor Jones is and stuff like that.
But he says 2024 Paul Tudor Jones owns Bitcoin.
You're not smarter than Paul Tudor Jones.
Time to ditch the I just don't understand it.
Cop out and catch up. So let's let's play this little
clip here. Are you off buying gold and
Bitcoin and and I? Think all I think all roads lead
to inflation. We're going to end up if you so.
But does all roads lead to inflation?
Therefore gold is a good investment.
Is Bitcoin a good investment to you?
I I I'm long gold, I'm long Bitcoin.
I think commodities are so ridiculously under owned.
So I'm long commodities, I think most young people find their
inflation hedges via the NASDAQ. That's also been great.
Probably some combination. I'd probably have some basket of
gold, Bitcoin, commodities and NASDAQ, something like that.
And I don't know, zero fixed income.
If I had my cash, it'd be very short term.
The playbook to get out of this, you see it in Japan right now,
they have 2% inflation, 3030 basis points overnight.
They don't want to raise rates. The playbook to get out of this.
Is that you? Inflate your way out.
Given all the things you're saying.
So this man is only worth $8 billion?
Honestly, the, the, the signals could not be any clearer right
now. And I don't know what folks who
are on the sidelines, who who don't believe, who are looking
to invest like what else they need to see.
Like we have BlackRock going on their their sales tour across
the country talking about 3. $132 million yesterday, Tyler
for BlackRock. The buying power of the US
dollar. They've got the charts.
They put the charts up. They show you how the buying
power of the dollar is decreased and effectively how the buying
power of Bitcoin has increased. Then we have Paul Tudor Jones
going on MSNBC and just casually dropping it.
Like it wasn't even like some big like this on the table, like
I'm buying Bitcoin. It was just casual, like I'm
buying gold, Bitcoin and commodities.
Like, like it's become a common investment for him and for
others. And for some reason it's not
there yet. And he mentions the younger
generation and wanting to buy like NASDAQ and buy stocks.
And, and certainly I see that, but like, are you going to buy
the index and maybe get 20% returns versus Bitcoin?
We've seen what, what Bitcoin can do in bull cycles, right?
And, and blow those returns out of the water.
And then like the other alternative is gold.
And I really feel like it when you're talking about those under
40 are, are you going to buy gold or are you going to buy
digital gold? I, I feel like the sales pitch
is so obvious and it really does feel like this 2024 has been a
major shift and like maybe we haven't quite seen it in the
price action yet, but I do believe it, it's coming.
Yeah, it's, it's, I agree. I mean, at this stage, it's
like, what else do you need? I think it's kind of an
autopilot right when it comes to Bitcoin in the crypto industry
being talked about outside on top of it just literally being a
political thing at this stage, 13 days away from the elections.
You have Paul Tudor Jones who's taking off Google, but you know,
he's run a hedge fund for 40 years now.
So 4 decades of hedge fund management, very successful,
worth $8 billion. And so it's happening.
You have P Marc Andreess and Ben Horowitz talking about GOAT
token fucking 40 minutes or an hour yesterday on on their
podcast. It's it's it's it's really it's
really it's really it's insane. And by the way, dude, I know
people want 62 K brother. It's not looking like it's, I
don't know, Tyler, look at this. It's a bucket. 68K67K already,
you know what I mean? I mean, I don't want to get
there, no. No, I know, I know.
I'm just saying like it's consensus was that it's like
everyone keeps calling for it. I don't know, maybe we retest
one more time and go. I don't know what it is, but
we're looking good, dude. I mean, look at these charts.
Don't look at this one it. Was say what Paul Tudor Jones
did not mention was Ethereum. Man, what can we talk?
Let's bring up this tweet I talked about yesterday.
I wanted to bring up the show, I think.
We have to. It was Dave Davis based Carbon
does I'm actually curious what people think.
Is the theorems on their performance based on its lack of
marketing or is it based on people not caring about the
asset? Because on one hand you have
Bitcoin gold store value, right? Nothing's going to ever take
that away from Bitcoin. Is Bitcoin and gold literally
right? Like silver will never take over
gold. You know what I mean?
In the in the real world right now, you have Solana, right?
And we just read those stats. It's almost becoming the
ultrasound money narrative, right?
Yes, Solana's being printed all the time.
I get it. It's inflationary.
We've already hit the all time high in terms of market.
I know all those things about Solana.
I get it. OK, Obviously research where I
put almost all my net worth in, right.
I'm not an idiot. I'm not an idiot, but it's
burning a futon. We say pump phone is extracting,
pump phone is locking up money. We say Solana's inflating.
Solana's also burning like the burns are all time high.
Shout to block works for those, for those things, right?
For those things that they're posting.
But it's like, so let's say Solana's taken away from that,
that theorem narrative. What does the theorem say?
That's the problem. I don't know what the clear
pitch is right now. Personally, I don't know why
anyone would hold Ethereum. You hold the theorem, you hold
the meme coins. My theorem right?
Yeah, like if you want Ethereum access, go by Pepe or MOG or
SPX. I, I don't understand holding
Ethereum here. I don't understand what the
pitch is exactly. I think a part of what happened
is, you know, you have the first cycle where, you know, you run
to these crazy numbers on, you know, future evaluations, all
the future potential of the blockchain.
Well, now we're three years later, I feel like a lot of
what's happening on ETH and being built is also being built
on Solana at, at 1/5 the valuation.
And I think the reality is ETH was greatly overvalued for, for
what it it was able to do. And now we're seeing the price
correction. You know, I'm not sure.
Like I feel like there's also just this thought anchored in
all our minds that O ETH is going to run with Bitcoin this
cycle. Like is it like why?
Like why does it have to run it in some certain ratio with
Bitcoin when you have the next man up and it's clear that
Solana is the next man up for this cycle.
I think Solana's probably going to face the same thing with the
next man up next cycle, whether that's Sui or or monad or
whatever, perhaps the next winner is defined as.
So I think it's something we all need to be aware of and that's
what all the other L ones will face and issue the all face
other than Bitcoin because the Bitcoin narrative is solved at
this point. But I, I don't know what the ETH
narrative is right now and it's changed so much and I think
folks struggle with it. I think Blackhawks struggling to
sell it themselves. I mean, everyone's like, you
know, these are like ETH maximalists saying this.
It's not like you and I like, yeah, we're not maxed of
anything. We actually hold everything.
I have. We, I know you and I have bad
assets on Bitcoin, ETH and so on, right?
It's like with his memes, NFTS, fucking coins like that.
But you know, Tsai is saying Etha's lagging.
I mean, he really has Dottie and the ultrasound money emojis in
his name. OK y'all?
So this is coming from one of them.
So, so he said, you know, Etha's lagging because of things like
polling Market is the biggest app in America right now, yet
absolutely no one knows that it's built on a theorem.
Market needs to be addressed. He's right.
Market is this apps breakout app, this cycles breakout app
literally right it's on Ethereum right, No, you could are you
Polygon? What you know what I mean like
and then he goes respectfully. This is nothing to do with if
you need ETH to use it, if it's built on L1 or L2 or whatever.
Has nothing to do with C burn has everything to do with the
mean factor of being built on Ethereum.
If we can't get the simple and most basic message across that,
we lose. What do you think of that
statement? I think he's on the money.
Yeah, I think that the marketing thing is probably right.
Another problem that stands out to me though is what is it?
Polymarket is the breakout app. But try to get your friend to
use Polymarket. It is not easy like it is.
It is a massive user experience hurdle to to jump to to get to
that app. Yeah.
Now I saw Bloomberg things in like Polymarket may like crack
down on, on like US users, et cetera.
Like I there was an article yesterday on Bloomberg about
that. What you getting set up like you
have to bridge to Polygon, you have to get.
I mean, I lost 1000 million more than that, Yeah, it's a fucking
hassle, yes. It's a pain in the ass versus
like this, the the slaw user experience, which is better.
So I think like that, that points to another, you know,
aspect of all this. And just that the the L twos
versus L ones. I, I, I probably mark it clearly
is one of the biggest winners of the cycle.
Like I'm not going to dispute that, but I think eats usability
perhaps is another and it's lack of getting to consumers.
I think probably is is another factor at play here.
Yeah, it's, I don't know, man. It's, it's so crazy because like
all the big dabs, all the big breakout shit, like a lot of it
is built on the theorem. It's just like, I don't know,
it's just not happening. I don't, I now let's stop
talking about the problem, talk about the solution.
I don't know what the solution is, Tyler.
I don't think marketing now fixes it.
Yeah, I I don't know that I had the the answer, so I I just sent
you the A16Z stated crypto dashboard.
Yeah. Yeah.
Is that the one that people were pissed about because they didn't
really involve Solana either in there?
Like they kind of like committed it.
Oh, I I guess I took it at face value, so if the data is wrong
then I guess take it with the green salt.
But well, yeah, what basically what their data shows is for
builder activity, it's like 80% of builders are on EBN versus
11% salon and 4% Bitcoin, which which kind of feels
directionally, right. So, but I think you would think,
man, if there's that much focus in investment on Ethereum, like
there should be more to to show for it.
I think if you Scroll down, you see what they're all building.
It's it's like over half of it's infra.
No way. Look at this.
We're in the 5% in the media. I'm just looking at media.
Oh God, it's funny. Well, meme coins fall into
media. What?
Interesting. I want to guess that.
Interesting. That's funny.
Anyways, yeah, I don't know dude.
I, I, I don't know. I am like I'm, I'm having
flashback a few Q 4/20/23. But it's going to happen on
bigger level. It's going to happen the same
way you have your Solana mean coins, you have your Solana
underlying asset and it's just going to take off again and
Ethan's going go, go, yes, Ethan is going to higher.
Yes, Ethan is probably going to go back to all time high.
But the up cost versus the other coins that he's going to run
against, I don't know how it's looking, but it's I don't know,
it's not looking great. That's how I feel about it.
Yeah, I tend to agree. What else?
Oh, quickly, quickly, quickly before I ask you what else you
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MANGOSMANGOS is the code today. Tyler, what else?
It feels like we've covered a lot of the big, big stuff.
Is there anything that we've missed out from your Daily News?
Quickly in memes and NFTS so pump fun didn't launch the
tokenization of videos who? Do you?
Think it might get them in the hot water?
Should we play that video? Oh no.
No, I probably shouldn't play that one.
Well I mean you can the the video is fine but.
But why? Yeah.
So I saw some of this stuff, like what's going on there?
Just like perhaps with like licensing issues, like anyone
can get any video off the Internet and just tokenize it
now. So so I could see that getting
messy and I'm not an expert in all the rules and regulations
tied to this. Let's play this out.
That was hilarious, by the way. I lost it watching this video.
Stay tuned to the end. Do not come.
Do not. Come I'm going to come.
Also just perfect into that video.
I may or may not have chased a meme coin tied to this video.
I lost my ass on SO, so do not copy trade me.
So pump fun, huh? Again, making the news.
First we talk about the token stuff.
Now we talk about the video. Cannot tokenize videos on pumped
up fun. Upload your video, choose your
thumbnail and make your coin stand out.
Everyone on the main page will see it.
What will you create? So let's see what comes out of
this, you know? So there's that.
I mean, I would love to talk to Alan to see like if they worried
at all about like the regulatory risk or hopefully they've
thought all that through. We had three headlines in the
art space. SO1 Foundation rebranded their
Instagram account to Rodeo Club and they're focusing on, you
know, broadening their audience, kind of citing that NF TS are
are dead and they don't want to wait for NF TS to come back.
On the lighter side, a couple of big, big auctions happening.
So Botto is live at Sotheby's right now.
Folks aren't aware that's a decentralized AI artist.
So perfect timing with this AI meta.
Those lots are going to start closing tomorrow.
So if you're into bidding on AI art, you know, take a look at
those. And then off of Story kids,
Piano Blossoms, the addition of 30.
Those will start to end in about 3 hours. 3 hours.
From now thank you X my boy. Did you see that sale?
I missed it. One of one sell for 39 ETH
yesterday. That's big.
Fuck yeah, baby. Hey, he's in the audience.
Look at that, Chad. Thank you, Wax.
Do you want to give him a shout? That's a big fucking deal, bro.
It was less than 39 ETH and he got the sailing right away.
I probably can't name more than 10 artists who could command 39
ETH for one-on-one right now, so that's that's a big deal.
Yeah, that's a huge dub. Huge.
I mean, I'm aside from your friend Ryan, I'm genuinely a
massive fan so of his art. So it's you love to see the
arts, dude. The art world is like Rob, like
there's it's just become separate niches like 2021 we're
all one. It was like PFPS and art and
memes and this and that. Now it's like, OK, you have the
art folks doing the fucking art thing, you know, the rattle
positive word buying art, like, you know, all these, the Medici,
like all this stuff and you have the meme corners and you have
you know what I mean? It's just, we've just grown, you
know? Yeah, no, it's still very alive.
It does feel like it's comments don't own niche, but the niche
is is doing OK right now. I feel like it's almost finally
getting like sucked into the bigger niche of art slowly but
surely, you know? Yeah.
You know, it's a, you know, it's a, it's just like it's just
starting to, it's a, it's just starting to, you know, kind of
get something in the art thing. Finally.
Yeah. If we want to talk sports real
quick that so the the headline is simple.
So Coinbase is an official partner of the Golden State
Warriors, which for those who want maybe not be like NBA
diehards, it is one of the the biggest marquee franchises in in
the NBA in the world, of course. So so that's a big one.
It actually piqued my interest for for sports sponsorships and
crypto. So I went through the history.
So basically 2021 was a mega boom 33 marquee
sponsorshipscrypto.com was a huge one along with FTX of
course. Then FTX crashed, crypto bubble
burst. Basically almost of the
sponsorships went away. 2023 it was down to just one of the
major US sports and now this was the first for 2024.
So other major US sports being basketball, baseball, football,
hockey. This is the only major crypto
sponsorship, but globally it is very alive.
So there's 26 soccer or, you know, your football perhaps is
leading the way. Let me see the data here.
So yeah, so there's 11 soccer sponsorships, 3IN Motorsports, 7
in esports and then two in cricket.
So I thought that was interesting for those who are,
you know, into the sports scene. So so perhaps check that out if
you want more info. Yeah, this is super cool.
I love that. I I, dude, I'm a huge fan of
crypto in sports. Fucking love it.
It's like we're like we've fully taken over F1 at this stage.
Like fully like crypto has every single team has an F1 sponsor.
I love it, you know, it's I, I I think I was fucking speaking in
the Red Bull Racing team yesterday.
We got on with OK X this morning and doing stuff with McLaren
like it's like, you know what I mean?
It's a it's all over. So if we're going to take over
basketball too, let's go. If if a crypto sponsor was to
sponsor Montreal Canadiens and get me season tickets and I'll
go and Rep you every I will wear OK, I will wear a T-shirt of
your brand every Montreal Canadians games.
It's the one of you who wants to sponsor Montreal Canadians the
haves. We did lose 7 two to the New
York Rangers yesterday, but it's OK, so I'm.
Just saying the Bulls I'll I'll wear your hat every day on the
show. There you go.
And the Bulls, Chicago Bulls. I mean, where's Scottie Pippen?
Hold on. He was listening to the Pump Fun
Spaces yesterday. Where's Scottie Pippen?
Yeah, he was. There was a big spaces with with
Alan and Frank Deacons and those lads yesterday anyways.
All right well look, that's a good roundup love to see that
lots of people in here love y'all make sure you retweet make
sure you follow for more everyone, because we host this
show every single Monday to Friday at 10:00 AM Eastern
Standard Time. This is your last second to
enter the draw Sims. Let's get someone winning and
let's get going Hurricanes for the wink fuck out of Yonder who
supports the Carolina Hurry I I've never even met anyone that
comes from Carolina. Is Carolina even real?
I'm kidding. The Hurricanes name hitting a
little harder this year, though. Yeah, yeah, exactly.
Yeah, Yeah. They are called the Caroline
Hurricanes.