Yo-yo, yo-yo, yo, what up? What up?
Good morning. Good morning.
G MG The Friday, October 20th, 2023.
Look at that. Another beautiful day to have a
beautiful day. I got my calls to the house.
Mando, how you doing today? I'm doing great man, a day of
travelling yesterday nice to flying to Lisbon during Atlantic
Storm. Wild flight, but yeah, made it
back. Not leaving for a month, at
least now. So I I hate those white flights
that I, I I I don't like it. We were on the tongue like 2
hours we take off and then they were like, yeah we're gonna
green light it. My wife was like, you shouldn't,
you shouldn't fly in this. Like it's horrific.
It was horrific and it was a big storm coming through and then,
but when I landed it was like, it was fine sunshine.
There you go. We landed.
It was fine sunshine. So that was great.
That was a lot of fun. I know movies on audio.
What's up, Ovie? Never mind, so.
He's driving, right? I know he's driving, yeah.
Ohh, do your thing. You drive home, drive safe and
we'll see you when we see you. Sorry, Whoa, sorry about that.
We are so back to broadcast is in.
We are live as usual, across all platform on audio and on video.
There you go. So you were flying from London.
You guys had a retro yesterday. So how did that go?
I forget what do we even talk about it, It was, it was, I mean
we booked it this year, we put it while back because it's meant
to be anti London this year, this year and we had two weeks
to choose from. We were like right, we either do
it near freeze or do it near London and the London end up
cancelling take them off vibes. So it was it was mainly European
focus, although like some of the OG rec guys flew in.
It was really good. I actually, I actually think I
even preferred it to the year before because the year before
it was just fucking. There was just so many people
you could even couldn't even walk around the place in London.
So it was a it was more chill the London venue smaller than
the the, the New York venue. So it's it's just easier to have
that many people and then. Maybe he wasn't drinking, but I
yeah, I I, I kind of continued with the core group afterwards.
Hello. I love that.
I mean, one of you guys had to carry the group, right?
Like what? What?
One of you guys had the ticket for the team.
I like that, that I wish I was here.
I wish I was here. I was here.
Mando, if Mando carried on. Listen, Mando gets kind of.
Mando gets quite fun where it carries on.
So I definitely wish that's. Why?
I'm a fun hip. You are a fun guy.
Wait, remove the hip. You are a fun guy these days.
You're definitely a fun guy, but it's been a while since we've
gone out together. Yeah, out, out.
Been a while, Been a while. We did the little, you know,
little knack things, but not that, yo, Miami is gonna be wild
because because always knocking that guy out at the end of
November and then he's coming to Miami from there.
I'll be in Miami early on and then we have Basil, so like
he'll be able to drink as well. It's celebrate like 3 months of
like hardcore trading. Well, I imagine the the guy's
gonna rage like training twice a day for all this time and you
fight. I went over to his house.
He was he was full on training. But he's.
I mean there is just imagine that's like you're about to go
into the ring with someone that is pretty big motivation like at
all times. Mostly thinking, fuck yeah, I
really want to get punched in the face.
Like, also not wearing headgear, right.
Exactly like. I don't know, although I saw the
video of like rookies fight two years ago.
This is amateur level, I think. Yeah.
No, I would. You fight.
With them, we're in shape. Did you fight?
I've I've I used to do a bit of boxing.
I haven't. I haven't for a long time, but
would you fight? Like would you get on the ring
with someone? Big ass head.
You know, Like, I think it's a it's a big target for people to
hit. So I don't know if I'd be the
best. Yeah, but that jaw, You've got
that English jaw, you know, like this.
Jaw you could take, you could take some punches, you know.
Yeah, why not? Fucking throw me in the ring?
Go. Let's go.
I don't know. I'm not.
I wouldn't do it. I wouldn't want it.
Like what if you get hit in the head and then you?
Pay to beautiful to bring man like.
No one's touching that hair like the glass, like the whole thing
is just perfectly manicured. There's no way we're putting you
in a ring, right? I appreciate that.
But I also am saying like I don't want to get punched in the
head and end up like redacted, you know what I mean?
Like, like that's like my biggest scare.
Like I'm looking at all these even these YouTube boxer
fighters, like they're still getting hit in the face.
They're still getting hit in the in the back of the head and
stuff. And I I don't, I don't know, I
don't want to. I'm not into that.
But anyways. Tyson line right Everyone's got
get punched in the face yes that's that's that's definitely
it that's definitely but anyways talking about plans, talking
about plants today on the show, today, today, market update
October is definitely back. I mean, we had a wrecked over
for like a week or so and everybody turned bearish.
Look at them now. Look at the timeline.
Now we're not going to celebrate.
We're not gonna over celebrate, that's for sure.
I mean, ETH is definitely not worth celebrating for at the
moment, but it's still October after.
Also, we'll be talking about the market.
We kind of talked about the rec show.
We can catch up on the F1 stuff. Maybe on Monday because it's
going to be a big weekend. It'll be fun.
Elon Musk. Elon Musk goes full tumour,
warns us about the economy. I saw he even posted his arsenal
of weapons. That thing is crazy.
Gary Gensler throws in the towel again 1111 and then uh should
you keep up should you sleep on flooring protocol to some more
updates on that front. I'm seeing out over my timeline
so I'll I'll I'll probably let you take on that one because
there's a lot of stuff going on that front.
And then last but not least reminder that today is the last
day for your is the day for your stubs burn from Starboy who was
on the show on Monday. If you want to listen back to
the podcast right is Mando market update woof we hit 30
point 2K this morning overnight. I don't know when, but give it
to me what's happening in the market.
Market feels good. It is.
I mean, it's really just Bitcoin
and Solana which which have just skyrocketed.
I think I was looking at on the monthly sort of the last month.
Let me just bring this up. I think Bitcoin over the last
seven days. Bitcoins up 10%, Solana is up
25% and ETH is up 4% if you do that over the last over the last
month. It's it's even more aggressive.
So over the last month, Bitcoin is up 10%, Salon is up 35%, in
ETH is down 1%. Which just tells you it was kind
of what we said in the show last week.
Like I I think the the narrative right now is with Bitcoin and
some of these, particularly Solana, um, some of these all
ones which are starting to like see some activity as long as
probably the most obvious that there have been a few others in
that world, but everything else hasn't really had a great last
month. Everything's picking up a little
bit, but it still feels Bitcoin there, or Solana LED and
everything else is kind of just playing catch up.
Um, although there were some popular short squeezes out like
Matic got short Squeeze today and a couple of other ones, but
everyone has been piling into shorts.
Seemed to feel some pain. What caused this?
Well, there's a few different things.
Mainly we'll get into it a little bit later, but Gary seems
to be slowly throwing in the towel.
You you saw some positive news about Ripple.
They're not going to continue the lawsuits against the
executives. You've just seen continual news
about the ETF and I think at this stage, as I've said before,
like I think it's going to be slightly over exaggerated how
big the effect is going to be. But that's the narrative.
And one thing I've learned about being in crypto is that a
narrative can just take you to a crazy level.
It always overextends and then and then when the reality hits
in, it could be very, very painful.
But I think the the hopium of the ETF could really drive
things and you're already seeing that like.
It comes up 10% in a week and we are what, close to 80 days left
now? Um, there are a lot of different
predictions at the moment. Matrix Port, put out at a very
popular research firm in Crypto, put out a report saying they
think by the time the ECF is approves, Bitcoin goes to 42 K
and potentially up to 57 K So the hopium is being fucking
smoked across the market right now and that feels like no one's
really going to stand in the way of that narrative, particularly
in a world like this. That wouldn't make sense if
everything else is getting smoked, but gold as well has had
a huge week, right? Gold is up.
Close to 2000 an ounce right now which is, which is like the
highs of where it has been recently actually hit just over
2000 a day three month high. So again digital gold, everyone
buying it because they're panicking about macro, they're
panicking about debt like U.S. debt.
He's got absolutely insane. And then you have things like
the what's going on in the Middle East right now, what's
going on oil, there's just nowhere to hide if you're, if
you're a trad fire investor, stocks aren't having a good
period bonds. Like we just have the ponies are
going through 5% nearly yesterday.
Um, so crypto just becomes this this weird safe haven asset?
Which which I think could be attractive over the next couple
of months as well. So there's a lot of things.
All coming together for Bitcoin right now and that's driving it
higher. You're not seeing the the big
utility drive that normally needs which like we need either
to be burning right? And it's not happening, but it's
kind of still being dragged up high, but definitely
underperforming. And then Solana is really his
own real question, which is what's going on FTX side, the
state, the majority of their Solana.
Teams and whatever they were going to sell was massively
exaggerated, clearly Um, and you've just seen inflows, you've
seen institutional inflows into that for a while.
So as long as it's got a good story behind it.
So that's kind of leading the all ones are we so back?
I think we will continue to be frustrated with death.
That's what I think. I think today is a sort of day
where it's like underperformed so much.
It might, It might catch up slightly, like it's
underperformed. So much like, so much, dude.
That's a Salana. It's a 35% underperformance over
the last month. Versus Bitcoin it's 10%.
It's not a small amount, a gig, a gig erected under the OSPF
thing, right? So it's catching up, I feel.
Yeah, of course. Everyone talks about yesterday
with Solana. Yesterday with Solana was
December was like Solana hit whatever it was.
Eight or nine. So like it was peak FUD for
Solana then. So maybe it was underperformed.
It's up 140 percent, 150% so far this year at a very, very big
year. But from a low back.
Hold on, let me share my screen again.
Yeah, I mean, look, man, so a lot of was the investment this
year, huh? Like, that's a that was him.
So a lot of him. Where is it at?
You're looking at year to date, So 145%.
Shit, that is crazy. Wow 105% what's What did XRP do
today? It must have spiked a lot. 7
points Baker went to 30.2 on on some exchanges earlier, which
was really good to see. It's back at 2029 six.
It reached a tiny bit, You're right, ethos trailing, but Ethan
is up about as much as Bitcoin over 24 hours.
That's six out of 10 now. Today feels like the day.
It was like, right, Come on everyone.
Like hilarious amount let's that's maybe drag it higher.
So I think, I think this is the sort of day where we're reclaim
some ground. Like I just feel that in my like
just looking at stuff it just feels we are Friday after all we
are. We are gold candle Friday.
Don't. And remembers what they actually
own. But yeah, it's I think medium
term. I think for the next 90 days or
80 days until that ETF Bitcoin outperforms.
Form but today is the sort of day work where you could go the
other way and that has spread. You've seen a bit more of the
Unchained like stuff that's come back as well like ticket
bitcoins back $100 million market cap or very close to it.
Again the OX token, you know the Suzu token that's up 4050%.
Who knows when he's coming out of gaol but that won't be that
would be relatively soon seen some other meme coins have big
moves higher like it's maybe coming back slightly some of
those things so. There's just some, there's some
green shoots out there for sure. Yeah, there's a lot of good
stuff happening. Actually there's two spots on
the back of the wing of the F1 car.
So I'll be reporting on that. We were reporting on that as our
friends just keep on battling boreholes for people to be able
to have water in Africa. So bullish on them and I don't
even, I don't even own a single token of theirs.
But I want them to take a pop because I like what they're
doing. I've got my own bag of of
Chequers that is actually coming back pretty nicely as well,
actually. How was Pepe doing?
I haven't looked in a while. It's sweet.
Are we back? I've helped.
I've held the back pretty strongly.
I'm not gonna lie like I I am officially a diamond hand holder
or community member. I don't know but.
Didn't get his reckless the other tokens recently, like a
lot of the other tokens got wrecked, but it hasn't really
bounced as much as the others. Yeah.
So it's kind of getting this range since September, whereas a
lot of altcoins got absolutely. Smoked over that period, just
stayed. I think it is literally where it
was on September 9th. So yeah, the last month has been
relatively flat for it, whereas most alts have been down
actually. Yeah, no, they have been.
They have been. Listen, it would be cool.
I mean is it got cancelled Friday or is this is this the
Pico top? So, so the the thing that people
look for Bitcoin here is 31 K, which is where it kind of topped
out last time. Like 3032 cars topped out in
July. July, OK.
Head and shoulders pattern which is like you reach a lower high
than last time. So if Bitcoin doesn't go to that
level or I think you see some resistance basically around 30
point 531 just because people were trying to play for that
sort of pop chart pattern, but. The thing that feels different
to me about this time than the other times is that there's been
massive spot buying. So and what does that mean?
Obviously you can trade futures, let you do on various different
futures exchanges or you can trade spot.
What's been happening recently, people have been going out and
buying spot Bitcoin. It's not just been degenerates
going 100 X lever, it levered, it's people actually buying the
spot and you have it's mainly been long term holders because
the long term holder ownership ratio is kind of at the highest
it's ever been. So you have this period where
like it's actually going into the hands of people that are
going to hold on to this for a while and that's.
Pushed. You can see that in the on chain
metrics a lot of the funding has gone negative and.
That feels to me more substantial than us just dicking
around in a range and and everyone playing the 2630 K
range, um, last time we got to these sort of levels you didn't
see that level of spot of spot buying.
So this feels more substantial And as I've said to you before,
even if we see a retrace, let's say we hit 35.5 and we go back
down to like 28 or whatever. I'm telling you like 40 days, 30
days before the ETF. It will just be everybody's
talking about Unity, wild predictions from a bunch of
different people already seeing it.
I think it's a buy the rumour sell and use thing.
As I've said several times I think you wanna people started
positioning yourself now to exit towards the end of December or
early Jan because there's going to be just unbelievable amounts
of hopium going into that ETF. And then you you either just
shut down your risk in jam or you just be prepared to hedge or
or be prepared for it to. To go lower in my opinion.
OK, pass me the hope here real quick.
Dude, everyone's got hold on. Ohh thank you.
Ohh yeah it's good. It's really good.
Hold on. I I messed up my screen.
Now there you go. Anyways.
Well, listen, I love to hear that.
Feels good. We're not playing No Pump it Up
song. Nothing.
I was showing the weekly chart on Bitcoin.
It's looking juicy. The East Weekly chart.
It's alright, but we'll get there.
We'll get there. You know it's I chose Earth as a
store value. That's why it's gonna pump, so
so say. One might not pump and shut up.
So I don't know. I just like the timeline.
I like that people are starting to rally and everything.
You know what is it it the the chart, The price is an
aggregation of vibes. The vibes are positive.
Again, you absolutely love to see it.
Anyways. Anyways, anyways, so we're
another topic today about the SEC, which obviously you cannot.
Touched on. Whoops, I think I'm going to
skip over that one. Mr Simms.
There we go. It's Gary throwing in the towel.
Apparently the staff is just doing a bunch of work on those
multiple filings, and so the SEC drops charges against Ripple
executives Brad Garlinghouse and Chris Larson in ongoing XRP
litigation. So all the allegations, all of
them that the SEC had about XRP and their founders were dropped
yesterday. They've dropped it.
It's over. Well, C is no longer seeing.
That executives. Just good, fancy executives,
right? Yeah, exactly.
So they've still got. It's highly, highly likely that
the SEC and Ripple will settle now.
Yeah, for sure. So just starting to see the.
The beginnings of that, it looks like um and then yeah, look, he
said yesterday, he's or two days ago, I think it was that the
bunch of staff are working on the Bitcoin ETF applications.
What you've also seen, which people are saying is very
bullish, is there have been a number of successive filings.
So when you do these ETF filings, they often come back
with comments and see like you've got to do this, you got
to do that. And what you're seeing is, is
that without any response from the SEC.
Response. You're seeing these ETF
providers update their submissions and what that
indicates is they are speaking in regular dialogue with the SEC
and the SEC are guiding them to how to be successful.
So this is putting it as a very high chance that it goes
through. Mike, no regrets, who runs
Galaxy Digital, He kind of very, very well known crypto OG.
He came out and said that he thinks the ETS will be approved
before year end, which I personally do not.
I see happening, but I think in my mind I thought Gary would
wait until the 11th hour. He would wait until January and
then he would go like, OK, you get it.
You get it. Literally 12:00 PM on the final
deadline, you you're getting it. Was that 12, midnight, whatever
on the final day? You'll get it.
But then there may be a chance you know that.
Like why wait? Like if he's if they these,
these guys all, all, all. What does he know?
Does he know? What does Novogratz know?
I mean, I'm going to play you all the clip of Novo here.
I mean, what does he know? Of dealing seemed to be heading
in the rain. All the the indications of of
dealing seem to be heading in the right direction and that's
you know from what Mike though because I don't want people to
Mike, people are gonna say he's talked in his book, he's got he
owns a lot of Bitcoin. He wants this to happen
obviously. What would you pinpoint and
specifically suggest that you're seeing around the approval
process that is somehow different today than it was a
year ago than it was two or three years?
Ago, The most significant piece was the SEC lost in court,
right? But the judge has said it.
What are you talking about? SEC?
You're you're you have a futures ETF and you're saying you can't
have a cash ETF. That makes intellectually zero
sense. And I think that put the SEC on
the back foot. And I think Gensler needs a win.
There's a tremendous amount of pressure to do something that is
rational. The American public wants this.
BlackRock, who's the largest asset manager in the world, is
out publicly saying we're going to get this done.
And it's, you know, I can't talk specific about.
Conversations or guys are having on and you know that's on the
the Invesco side, but talking to all the other people, it just
feels like the dialogue with the SEC is all heading in the right
direction. Boom.
And with that, I have another clip to play for you guys, which
is the clip that Mando just alluded to from from Gary
Gensler himself that was recently out.
The thing a couple of days ago. She didn't appeal.
We didn't appeal last Friday. I think that's accurate.
In the future and perform but what we have in front of us just
so that the viewing public understands we have not one but
multiple. I think it's 8 or 10 filings
that the staff and ultimately the Commission is considering
for what's called exchange traded products for for Bitcoin
to be in a in a in a security. So the Bitcoin would be held and
then there would be something called an exchange traded
product and that would trade on various stock exchanges.
And those filings are in front of us.
I can't prejudge any one of them, but there's eight or ten
that we're looking at. Well, there is a large number
and there is kind of a narrative in this market and I wonder if
you could put it to rest that someone's going to get to go
first. Is that likely to happen, or is
it likely to be a group approval?
If you're going to have one, a bunch of products could be
approved at the same time. I'm not going to prejudge the
staff doing work on those multiple filings, but it's also.
Listen. Mando.
I like those clips. I like, like he's he's throwing
in the towel, doesn't it? It feels like he's like I tried
so hard. Some people were paying me to
hate crypto and I had to hate crypto.
And I just can't stop it. But The thing is, like, that's
what it is with like any digital evolution slash revolution,
right? Like you cannot stop the
inevitable. Like you couldn't stop the
Internet. You couldn't stop the move to
like, I don't know, fucking the iPhone and digital whatever
tablets and all this stuff. You can't move stop the move to
like digital art, right? Like try to account.
Stop that move. It's going to happen.
Kids are born with iPads in their hands.
Literally, you know, I mean, so the next wave of art is.
Or I'm gonna be digital because most of them are not know how to
use a pencil a pen. You know what I mean?
And then you you can't you can't you can't stop the next wave of
of of evolution of global store value of currency of.
I mean these kids are being trained on Roblox at the moment.
I know parents that purposely let their kids play Roblox here
and there because they want them to learn like some of the things
that you get out of it. They want them to learn the
trade and Bob Dylan, how is that gonna happen?
Like Ethereum to me. Look, it could not be.
There one day, but I think it's gonna be which layer being built
on top of the Internet, and that's what's.
And the theorem is going to be used to trade is the digital
currency. And you're gonna have the
digital digital, which is Bitcoin.
Like, you, you, there's some things that you just can't stop,
no matter how hard you try to stop.
At the end of day, like, all coins aside, Bitcoin is hard
money, right? Like there's only ever going to
be 21 million bitcoins. Yeah.
And you just can't. You can't, you can't stop it.
So it's, you know, and nobody, nobody can mess with it.
And so I don't know, it's it's interesting, it's interesting.
All this is getting incredibly bullish.
I'm just trying, not personally, to get too bullish.
I don't want to go there again, dude.
Like, you know, like what happens if like November, like
we just get wrecked and it's like such a like sad month in
general. It's like November, December.
I think the main things that you should worry about right now are
Ohh if the if the US government starts hammering down there but
common they have a time remember and you have the other one is
Mount Gox has got quite a lot which they they said would be
delayed to 2024 but they might start the payouts at the start
of 24, so the end of this year. So you could see if those
wallets start to move then I think you could see some
downward pressure. Be very aware of that sort of
stuff if you've got level trades on.
And then, yeah, I think the other thing is just like the
world is just looking up to date in its rivals right now.
And I think that does play into Bitcoin's hands over the medium
term. But you know, I don't even
looking at the USUS government debt markets, not even like we,
we talk about it everyday. But like it is wild how much
debt the US has got right now relative to its GDP and also how
wildly expensive the service costs are.
And you're starting to see interest rates even go higher.
Even with the Fed being like dovish indicates there's some
indication that people are worried about the level of U.S.
debt. This isn't just like Ohh will
always get repaid like the the Fed has broadly been slightly
more dovish in its commentary and we've still got interest
rates going higher, which kind of says to me that people are
worried about the US's ability to pay back that debt.
And that's that's not just there, that's like across across
the world as well. So I think there's just
something to be aware of. You know if we if we see another
bank go South for a certain reason and and people start to
really question the the the the high levels of debt and the
economy. It kind of goes into the point
that you know, I mean we can get into it like the next point we
had was was with about what you saying which is he he went on
the Tesla earnings call and any of you know but Tesla stock is
down like 7 percent, 8% of the last couple of days.
And that was because he was so bearish on the consumer.
He was like, look, the consumers up to their eyeballs in debt,
they were paying back these Teslas and and now they've got
like 20% interest rates to pay them back and they haven't got
any money. They dip into their savings.
That is just endemic for the whole industry, the car industry
and then it goes across to lots of other industries as well,
like people are. People are really, really, um,
being affected right now because of the amount of debt that
everyone had. I think even on a national debt
level, I think every U.S. citizen has $100,000 of debt on
a national debt level. So you you are born, you get
100,000 of government debt, puts your name that you know you and
your fellow countrymen will have to pay back of of the course.
Of my fellow countrymen. Yeah me my people.
I mean you Canada is in a in a better state but we have
consumer debt which is is is the wildly high level across the
board too like it is it's it's worrying right now for for a lot
of different industries the the main save has been a I but but
this debt bubble is just I don't see anywhere out of it.
I just don't see how it gets fixed.
It's it's approaching crazy levels.
Yeah, that is, that is crazy. So that was literally like what
we wanted to get into this perfect segue, right?
Like, you know, Musk just warned about credit card debt,
commercial real estate and foreign conflicts.
And so he's a, he's starting to get a little worried about
everything going on around the world.
You know, he says that obviously, like what you touched
on regarding the automotive industry.
And then, you know, he warned people about all the stuff
that's going on around the world and let you know.
The war on the other side of the world is not looking like it's
ending anytime soon at the moment, right?
Like you were like to to what you were saying, like you
pulling it out. Two things that could happen to
Bitcoin, like with my godson, the US economy, the US that has
a lot of Bitcoin. But the third thing is like,
there's a very serious threat of like the war just like
escalating, right? Because from from I read here
and I'm still trying to follow somehow like amongst like the
sea of misinformation that you guys talked about on the show on
on Wednesday. But you know there is a.
There is there is still this concern about like a lot of
powers that may be getting involved in in the war there.
Last I checked I believe Biden was was in Israel most recently
talked there and and it's not it's.
We haven't seen the conflict resolve itself, right?
Like I'm talking about it because I I've muted all the
fake information people, so I'm finding not seeing them on my
timeline. But so I've trying to, I'm
trying to like read the actual like what's happening, happening
on site to better inform myself. And it's not looking like it's
getting better in terms of a peace.
There's no ceasefire conversation on the table.
Yeah so Biden think go to Israel.
He was meant to meet with with Israel and Yahoo various
different Arab leaders. That meeting with Chris got
cancelled after the after the hospital incident and then he he
left without without anything really being resolved although
showing off Israel. Then there was a UN Council
meeting which got price for people proposed and have a
ceasefire that did not get passed because the UNUS actually
blocked it. It looks highly likely that
there will be some form of ground invasion by by Israel
into Gaza. Now I don't know the extent well
that that will be. There's a lot of back and forth
how much that will be but your science regional incidence of
violence, the main one would be Lebanon, Hezbollah, which
there's been like skirmishes and various different rocket rockets
being fired at the border areas. But there's also been some
violence in Syria ways and the UN has two massive aircraft
carriers as well as huge amount of of its fleet in that area
right now. And there was some, again, some
skirmishes that the US had to like intercept rockets two days
ago. So yeah, that's not gonna get
resolved, I'm telling you right now that.
We are, yeah. One for a while.
And I I think that you're going to see some form of, uh, an
invasion. I I think the that Israel will
be, it's going to be limited like the US is, is clearly going
to put limits on what it can do. And I think I'll show that it's
it's showing regard for for for civilian life and really just
try and have to pinpoint the thing about going into somewhere
like Gaza. You have to have very, very
clear objectives. This isn't like going into Iraq
or Afghanistan. This is like you can't.
I mean this one is not going to end up occupying Gaza like it
has to have a very very clear objectives of what he wants to
go in there and if it's going to try and eliminate Hamas
leadership it's got to show the US how are we actually going to
do that because they're not gonna allow you to go in there
and and like right. So you have to be very clear
objectives. I think that's that's kind of
the the, the situation that you're in, it's been delayed
because they haven't really been able to show that.
And the large amount of where Hamas hangs out is in tunnels
below below Gaza and that is just a very, very difficult
thing to to give any confidence and be able to overcome it.
So yeah, you're this kind of like weary.
Nothing's really going on, but I think something will happen and
and this will not be resolved soon.
No, no, definitely not. I Did you guys see this?
It's super grim. But like Nick Tomatoes shared
yesterday, I'm gonna share my screen for a second.
There's like markets. On like like with odds to bet on
like the outcome of what's going to happen in the world.
Super grim right? But I thought that was an
interesting tweet and he was saying Middle East markets to
watch via Poly market. Hamas is still being power in
Gaza by October 31st is at 89%. Another nation to declare war in
the conflict is that 12% Iran to officially joined the war in
2023. Seven percent Israel and Hamas
ceasefire by October 31st 6% Hamas the surrender.
In 2023, three percent. Look, they don't have a high
volume in these markets, but it's still like, first of all,
it's super weird to me that people are like betting on this.
I'm not gonna lie, like I'm a big gambler.
This is nothing I would ever touch with a 10 foot pole, but
it just it's like a good like gauge something on like the how
people feel about you know global.
Politics and then which could sometimes touch on, like the
macroeconomics and sometimes even the price of Bitcoin and
whatnot, but. You know it it just looks like
people believe more, like there's more bigger odds per
people that like Iran gets involved.
Then like there's a ceasefire, you know what I mean?
So it's like, well that's your love, but the sentiment and like
the only way that you get some form of ceasefire, imagine is
the hostages get returned and that is not.
Which is not happening. It's not an easy imagine.
So like, I think that's a long, that's a long road.
Um, it's not insurmountable. I know, like they've been
horrific times in this, in this conflict before which have
seemed insurmountable and then ends up being resolved.
But like that it's a long road from here.
So yeah, I think, I think it's, it's, it's a difficult one to
imagine how. I don't think Iran would get
involved in this though. It would only ever be.
It's really very, very tied to that.
But let's hope that they don't. Saudi Arabia came out yesterday
and they said, look, we want to, we want to who are really in
some ways like they control a lot of the situation here
because they were trying to go for peace with Israel.
They said they want to return to the borders before the Six Day
War. So I guess 1969, which is kind
of what the Oslo Accords were back in the 1990s.
Obviously there were various different regions negotiations
since then which never really got resolved, most notably in
2000 at Camp David and then another one in 2007.
But the look, I think most people want peace and they need
to find a way to get like they need to see a route there right
now. It does seem as though this big
things that have to happen for that to that to change.
But yeah, maybe, maybe there's enough people who can who can
who can get us there. Yeah, yeah, yeah, yeah, yeah,
yeah, definitely. Yeah, still crazy situation on
this, so something to look out for because that definitely will
have impacts if if if it does not get better Ovi GM.
GM How's it going? That's a nice bed frame.
I think we've just been completely rigged by this hotel.
Why? What happened?
Well, not rigged, but like, we just had this like.
Uh, voucher like from our wedding to like use up for a
hotel stay and it's like 500 pounds.
Like the voucher is worth £500, but like the room we have is
just like not great and I'm not sure that sounds snobbish but
it's not like I don't mind staying here but it's not worth
£500. Nice hotel.
So it's like this. Probably should be valued at
like 200 pounds, 150 voucher room, did they?
I definitely, definitely got the voucher room like.
The question is, is there a gym? There's a gym and there's a spa
as well, which is why we picked it, but.
Love to see that. See that?
Like I have to go into the bed because like the.
There's not much space to sit to sit down on my laptop.
I got lucky. I got it to Australia.
Is it sunny out? You know, you have a nice.
Where are you? It's not starting either in Bath
near Bath. What?
Nepal fast, There's a. Bath is a is a city.
Boss. Yeah, in the UK.
Like bath, like BATH. Like Beth.
It's called that, the famous Roman baths there.
So it's a school bath. Part OK.
BHF. Bath.
Yeah, nice. Sounds fine.
Nice little weekend retreat. Uh just for just had one one day
voucher one night voucher. So we used it for and just drove
like is it gonna take me like 1 1/2 hours to get here And
there's a like a massive car crash so ended up taking us 3
1/2 hours to get here. It's like, oh, finally got here
and. Where did you use all that to
use the voucher for one? Night just so annoying because
there's so many nice places you can stay for a voucher of that
value that I have stayed at before.
But I was like, Oh no, I'll try something different.
Let's go to Bath and be a bit adventurous and just like
complete rug. You should have just had a
Mayfair bubble day and stay. Exactly.
And stay. You should have just stayed
there. Exactly.
Fastball problems are not trying to.
I'm not going to. Yeah Oh my Says man spent 200 on
petrol for £500 voucher, Yeah. Honestly, like there and back
will probably cost me like 100 / 100 pounds in petrol.
Especially with the price of oil going up, let me tell you that.
Anyways, last topic we had for everyone today before we take
off on the phone for Friday is flooring protocol.
And before I go to you, I want to share this this video that
men put out. To game.
Now the the videos. Videos not good no no cancel.
So the video apparently is not good, but should we be paying
more attention? I thought it be a video about
flooring protocol. It's just a video of him
actually. This was the video.
It's just a video of him playing basketball.
I have no idea what do you mean, but the threat is good.
The threat is good. Good.
The video has 00 correlation to OK, hold on.
Because cause meant that I like men as a content creator in
general and and so the the threat is really good.
Like I'm someone who I didn't have time this week to look at
the flooring protocol. I'm gonna read this and I know
I'm gonna get my information. But now let's judge the video.
I'm not doing. This will change the game.
Forever. Explain to you under one minute.
Let him cut. I'm about to click out on this
shit. I'm about that.
Somebody. I click the trigger.
Come on. 19. She got, she got a green.
Nadine, Christine, Justine, Kathleen.
Charlene Pauline, Pauline. Man iPhone like I I like it.
This makes me want no but no. But this makes me wanna read the
thread. Like this is bad.
This is the video. So it's not a video explaining
FLP, right? It's a video making you want
Hyper FLP and thus making you want to read the threat.
But just so you know, what you saw in that video is what it's
like being with thread guy 24/7 right now.
Like that kid cannot stop rapping like Claudine, Charlene
Pauline all day in the street of Austin, jumping on every scooter
he finds and going pop pop, pop up and just doing stupid shit
and dancing in the middle of the street.
So just, you know, that video is what it's like being with TG
over here, and I love it. But.
But yeah, I mean, listen. Um, yeah, yeah.
I mean, listen it it definitely. I would very much go into men's
profile, read the thread. I mean we already, we already
said what foreign protocol is. We did that.
So are we bullish, are we buying like what's going on like I, I,
I'm here looking at it at the powers that may be out in Asia
wanted to pop, that's my thesis. Like, what are we doing?
You know. And not, I am not gonna talk
down the the Asian bid for for coins.
I think this could go like up to any level and I'd be like FDR.
If you get wrecked on the show, it's on you.
I'm just saying I have 0 tokens. I don't know about the boys but
I have none. And if I buy a bike, but if you
get wrecked, you get wrecked on your own.
Go on. Remember like.
The ticker is FL R, which was the ticker at that random A.
No, it's FLC. FLC.
Yeah, I was like, ohh right. I know, but the ticker is mocked
though, but go on. You guys are shameless.
Look, I think, I think, I think they're seeing huge volume.
They're seeing huge volume. They saw $1,000,000 of of boats
put in there yesterday. What I would say is this is.
This is just old coins with pictures to like the next level
and we've seen fractionalization happen in various different
forms before. Never really worked out like
these poor. We had FCX which really had a
big run up and then never really happened.
You had the tessera pools now you have this and then you have
pseudo swap as well which which have tried this sort of stuff
and they all have this this. Load of people start using them
and they just like stop using them.
This feels like it has enough Ogs behind it.
People like ding-a-ling is huge in it and a few others that
maybe it lasts for longer than the others, but so I think it's
worth paying attention to. It's worth trying out.
Like one thing I would say is that when you when you put your
NFTS into these pools. That's kind of you saying
goodbye to them like you can still get.
Let's say you put a let's say you put some mizuki in a pool.
You are really just putting them in the pool and it then becomes
like a lucky dip. But when you then take one out,
you're not going to get the one that you put in or it's highly
unlikely that the one you put in.
So you kind of that's why it's flooring protocol that you're
putting in floors and in response you'll probably get
floors back, but the $1,000,000 import evolve yesterday on the
platform. Yeah, that's what he said.
Yeah, so, but you can put in rez.
They have other ways that you can benefit from the protocol
that you put in res. It's all the value of putting
them in. It's all tied to this new token,
which, you know, if it pumps, then people will put even more
in and then it will be a classic.
It will be a classic Ponzi, but I think it's worth paying
attention to. Think there's some opportunity
here. That's what I'm seeing.
Maybe not just opportunity, but just think a lot of people will
be playing around with it. Um, they're they're classic
risks are things like smart contract risk, hack risks that
we've seen before. I think they've probably
borrowed a lot of the code from people like FTX, so maybe maybe
they're in a better, better scenario.
But like be aware that when you put stuff into pools, just like
in define, you hear about defi hacks.
This is exactly what could happen here.
But other than that I think it's fun to play with see what I was
thinking aping the shit out of the talking the other day before
flying. It's like 4 mil, it's like 2 1/2
X now. So I'm kind of bummed but
because I was looking at it like versus blur at like 100
something million market cap and I'm like well these people
actually been Max bidding NFT's all bear market.
They have millions of dollars of like assets that they've
acquired. They want this to do well.
They need this to do well and it's like the whole Asian bid
and like they're pretty smart people from what I've caught
onto the timeline and what if seen of them over the last few
months. Last year is notably Dingling
and got to see you know obviously free lunch PIP capital
around. I I think it's interesting.
Listen, we always said that in a bull market.
Climate What did you say the market cap is?
It's at 9.85 right now. Is it?
I thought it was just. 200 million ohh FL You were probably
looking at the wrong one. It's FLC is at 9.85.
Dude. It was at 5 million two days
ago. Yeah.
I just sent you the link I was sharing on the screen just now,
but I'll just say it. I thought it was much fun
though, but I'll just say to you again, no it's it's literally
like the Flooring Lab crew. Like the the the FC we is is 9.5
market cap. Is that quality?
Much harder than that, no, I it's not too sure.
Here one it's the same one. The fleet at least my cap is 200
million, so that's OK that that is a lot.
Yeah, there's definitely, definitely doubled over.
Blur. I mean, what's the blur?
I mean, it pumped the other day and then just like kind of
dumped right away once, like 21 cents, $0.19 right now.
So it's just. Like it's working. 550 million,
570, yeah, 570, you're right. You're right.
You're right about this. You're right.
It's. Like a little pump, you know, I
would be aware there was a very high true, I didn't realise that
197 on on on here when you go fully diluted here.
So definitely something worth looking at.
But there's opportunity everywhere, man, this bear
market. I do think that like even the
blur model always said like in a bull market for NFT it works.
It's just it launched at the worst time and it's done like it
also like the incentive was extremely misalignment between
the team in my opinion the community and everything.
So like that didn't work out but like in the bull market like
stuff like flooring protocol he didn't blur like that works but
not in the bull market for coins like in the bull market for
actual NFT. However in the bull market for
coins I'm I'm thinking if you tokenize down to like just the
the ERC 20, all these collections like Portia Club,
like is that going to drive the floor of like the actual assets
up. It probably will.
So like I'm thinking maybe the next one on FD is now the way
I'm trying to think about it, I'm curious how you guys feel
about it. Is the next one.
FT is going to be led by the ERC 20 and not the image.
And then the image obviously is going to be sustained by the
community, blah blah blah and that's going to run after that.
But it could be an interesting way to see things like if the if
everything's becoming just a alcorn with picture, like quite
literally, then the picture runs next.
The people will hold the picture and get into the community if
they really want to be part of the club and blah blah or like
any other collection rec guy, whatever you name it.
But then some people who just want to speculate then don't
even need to spend picture anymore, just by the corner of
it and just be done with it. And I find that interesting like
I I could see myself like instead of buying like the
actual image one day like for new projects and stuff like
that. Like you know how the bull
market was like just go straight to the shipyard, get done with
it and then and then like for the ones that I actually like,
like that's why I actually collect the NFT, because it's
like a sentimental value to like acquiring like an NFT in my
opinion. So it could be an interesting
way to see things. But of course it would require
much more stable like bull for coins first in order to get
there. But I don't know like could.
I'm not saying FLC will lead to that.
I'm just saying could something like FLC and or FLC lead to the
next run on NFT is and could be interesting.
What you guys think about? I don't know if it would be the
next one. If you think you need something
that's not like. Makes you anything that's not
like game driven, good gamified to lead running, just need
people to actually want to buy NFTS for real reasons.
And we've seen we've seen how gamified attempts have failed.
Like Blur is a great example of that.
I'm way more busy. I'm wishing the on the Pokémon
cards than I am on something like this.
This feels like the infrastructure stuff that, yeah,
like if this guy's gonna buy Charizard PSA 10 first edition
and then next weeks, I feel it. I know you.
You.
You're already looking for one, aren't you?
No. No, I'm not.
I I thought you. If you ever do, though, I got
you. Like if you ever.
Want out of you is out of you is out of your way this yo should
we buy one like I'm dead ass like do you guys wanna like Co
buy like a maybe a PSA 9 like Charizard first edition like we
should just second Nakamoto of like it's the Nakamoto of
Pokémon like I'm just saying think called Buster up he can
hook us up but but we should you know what we should do an
episode about the whole Pokémon thing and then just bring Buster
out. It could be fun but because that
that stuff is heating up like the whole Pokémon market again
and that the whole NFT run was after the Pokémon run in the
first place just everything started to light up like pre
2021 and FT run right now. Bitcoins lining up, looking on
WA and all this shit sliding up. Like even the watch market is
slowly picking up. Like slowly.
I've been looking a little bit to see if I can catch some
steals before it runs, but like, you know, I don't want to be
left behind for my 30th birthday next year.
You know, the Raging Bull mark. Everything's like overpriced,
but you know it's it's starting to heat up.
But anyways, Capo could be right.
Capo could still be right so. Capo can still be right, because
Capo actually wasn't talking about Bitcoin.
He was talking about all these old coins.
I don't know positions. Are but that's such a cop out
though like at the beginning he was so bad.
He's like, yeah, that's a cop out and that's be like.
Yeah, I agree, he said. He said.
Yeah, you agree. I know you agree.
He said 12 K Bitcoin and he stands by that so exactly.
So I mean, look, we could still see another pullback.
You know, we've given the reasons today, but we'll see
what happens. But anyways boys, what's your
plans for the weekend? Ohh this steps burn.
Hold on before we talk about weekends stops Burn is now live.
So if you're meant not fair dot XYZ 4 slash stops 4 slash Brian
it's on screen. You can scan the court court
directly. Go and burn it Star boy baby,
I'm a star boy. Anyways this the piece is fire.
The collection is beautiful. Check it out.
Get your stubs. And with that, boys, what are
you doing this weekend? We know what you're doing,
eating protein and working out. Yeah, exactly.
Rugby World Cup final this weekend?
Ohh, who's in the final? I believe it's, uh, England.
And sorry, England. Sorry what I say, not World Cup
finals, semi final, but England, South Africa are playing
tomorrow. Whoa, Argentina and New Zealand
as well. That's too big.
It's today. He's in today, but the England
game tomorrow. Damn.
On the cricket. Ohh, we're having a shocker in
the cricket. You know, we lost.
We lost Afghanistan. Again, come full circle.
I mean, England can't catch a break between the football World
Cup where we just kicked you out and then now you.
Know we were with the cricket World Cup champions, so we won
both the 2020 and the and the one day.
You know what? I'm going to cheer for England,
for rugby, because France got knocked out.
So I'm gonna, I'm gonna, France just got knocked out I think
this past week. So I'm going to cheer for you
guys. I'm going to, I'm going to cheer
for you, beat South Africa and then we're gonna either beat
Argentina or the the All Blacks. You know, I'll cheer for you
guys. Let's go, let's go.
That's fair. Alright, well, I'll be at the F1
with Bracken. Speaking of which, shout to
Kraken for powering our show. Go to kraken.com/rug Radio.
By the way, if you want that free grid pass NFT from McLaren,
from Williams, I'm sorry. From Williams Racing, make sure
that you like same thing, same website and just do it like it's
a free NFT that they're giving out here all week.
And just so you guys know, it was insane yesterday.
The line at the Williams Fanzone in Austin to get free NFT's is
wild. Like Williams Racing went and
posted the video yesterday on Instagram.
And as you can, as you know like the normies piled onto hate
like, ohh, now we're gonna lose the race.
Why is there a seal in the back of the car?
They were like you guys, if you got a good laugh, go on the
Williams Racing Instagram. It's hilarious.
But, but in person there's hundreds if not thousands of
people coming in and out to get a free NFT and I'm about to go
on record record with three guys.
Some like street interviews like fuck around with people a little
bit right now and and show you guys this.
So it's really cool to be here and to see that and to see
people claim during this actually tied to this, which is
super cool. Like you get like your whole
like grid pass and like you get an NFT with it and everything
and digital collectible and a lot of people actually.
It's really fun to see people mint their first NFT ever and
their reactions in person. I got to tell you, that's one of
my first times like witnessing that, and I think it's really
fun. A lot of people are doing that.
So send me some ideas if you want me to fuck with people in
the street, because that's what I'm doing today with PG and it
it should be a lot of fun. And then race tomorrow, race
Sunday, and then I'm home for two months.
Can't wait. Alright, so with that, with
that, with that, enjoy both. Enjoy Lisbon and enjoy Texas.
We'll see you on Monday, 10:30 AM Eastern Standard Time, 7:30
AM Pacific Time. Time for the episode of Jam Web
3 on Rock Radio. Let's go.