0:00

Are there signs of life in the

0:02

crypto market? Is the bear thinking

0:04

about going into hibernation so the bull

0:06

can run once again? Or is this

0:08

upturn just another head fake? We'll

0:11

take a look at the latest news in the Bitcoin and blockchain

0:13

world to make sense of it all and we're gonna do

0:15

it While dealing with the fact that there

0:17

are less than seven weeks of shopping

0:20

days until Christmas May

0:22

this coming season find us saying ho

0:24

ho ho instead of ho ho no no

0:27

no on our bad news Episode

0:29

number six

0:29

hundred and ninety eight

0:32

of the bad crypto podcast

0:58

Are you curious are you crypto serious

1:01

or somewhere crypto in between us? It

1:03

doesn't matter

1:03

you're in the right place because

1:05

you are in the Republic of bad Cryptopia

1:08

with Sir Lord Joel and Sir Lord Travis your guides your what

1:10

are what are some of the things we

1:12

call ourselves? I just went blank

1:14

metaverse morons web Blockchain

1:19

blockheads, that's it. It's If

1:22

we were in Australia, we would be in Australia

1:27

If we were in Australia would be hey with

1:29

the crypto cunts, oh my

1:31

god We were in Australia, but we're not

1:33

in Australia.

1:33

So we're not gonna say that that's

1:36

like, you know in in America that

1:38

is in

1:40

America that is such a strong word

1:42

right people that is like one of the most disgusting

1:45

things you can call somebody And

1:49

that's like their favorite word, yeah, they're all that I

1:52

love it when they go. Yeah good. Wow.

1:55

Thanks.

1:56

I don't know take that brother this

1:59

episode episode marked with explicit rating

2:15

checking

2:19

out in the last seven days bitcoins been up

2:21

about 5%

2:22

yeah we went about to 28 for

2:26

I'm not sure what set it off the current

2:28

crypto market cap your time stamping

2:30

on the third of October 12 18 p.m.

2:32

EST is 1.12 trillion

2:37

dollars Bitcoin currently pulling back a

2:39

little bit the last 24 hours by two

2:41

and a half percent to 27 thousand three

2:43

eighty six Ethereum also popped up to

2:45

like 1750 and then took a sudden

2:48

dive back to 1650 BNB to 13 XRP 51 cents

2:53

Solana $24 Cardano 26 cents and

2:58

dogecoin rounding out the top 10 six

3:01

cents by the way you may have noticed I've quit

3:04

saying stable coins that are in the

3:06

top 10 three of them are stable

3:08

coins or staked ether and like what's

3:10

the point you know the price is going to be so let's

3:13

just talk about ignore those you

3:15

get it get a couple of the ones polygon had a pretty

3:17

decent week but but Solana had a

3:19

really big week as well so there's a couple of

3:21

things that popped up on those

3:22

that we will get to as

3:25

well those some big was just some big winners there's

3:27

some big whip yeah Solana was probably one of the

3:30

biggest winners you know Bitcoin SV

3:32

was a big winner Thor chain Gala

3:34

also had a pretty big week roll

3:37

Bitcoin that I've never even heard with the big

3:39

winner this week with about 37% up not a lot

3:41

of big losers

3:43

this week Oh Joel

3:45

nope just some people

3:48

that I know but yeah we're

3:50

not gonna we're not gonna shout them we're not gonna we're

3:52

not gonna say their names but one name we

3:55

will say is John McAfee

3:57

and this news on Protos.com

4:01

says that the crypto legend John McAfee's

4:03

suicide has been confirmed by

4:05

Spanish courts. So,

4:08

there you go. You can trust them, guys.

4:10

They're saying that it was a suicide

4:13

even though that he said

4:16

he would never be suicidal

4:18

and even though Janice has said

4:22

that he was not suicidal, they're

4:24

saying that

4:26

he was suicidal. He literally

4:28

said, no, that if I hang myself, Allah

4:31

Ebsing, it will be of no fault of mine.

4:33

Literally said it. He literally said

4:36

that on October 15, 2020, on June 2021, he was

4:38

found dead. And

4:43

why is it, Joel, though, it's October 2023,

4:46

why did it take them, you know, 28 months

4:50

for them to declare this like that? And

4:54

why is Janice never got the body or

4:56

whatever? There's a lot of weird stuff going on

4:58

with that. I'm not so much of a conspiracy

5:00

theorist around this one because there's not really much of a theory.

5:03

They offed him. He had shit he was going to say

5:06

and they offed him. And they

5:08

call it suicide because that's what they do. That's

5:10

what they do. They suicide you. So,

5:12

moving on, the Daily Hoddle says that more

5:14

than $892 million were lost in exploits involving

5:20

Oracle networks. What's the story all about,

5:23

Tran?

5:23

So, you know, Oracle's are connecting blockchains

5:26

with external data and then it allows

5:28

the smart contracts to execute certain

5:30

tasks and DeFi

5:33

uses Oracle's to really grab the prices

5:35

of those particular cryptos. And

5:38

there's been a bunch of malicious actors

5:41

that have been working on this to exploiting that

5:43

with the price feeds and

5:45

they just go in and drain the platform's

5:48

funds. So there's been a

5:50

lot of that stuff happening. There's $900 million

5:53

happening since 2020,

5:55

which that's not good. I don't like

5:57

that. No. People are, there's crappy

5:59

people out there. there folks. In fact, in the last two

6:19

by the scammers that their bank

6:21

accounts

6:29

that happened to my mom, my mom lost

6:32

about 25 grand with using phone

6:34

cards. And she was so embarrassed. She wouldn't even talk

6:36

to me about ask me about it. Yeah. Until

6:39

she had run out of funds. It was like, Hey, I need

6:41

this sense of money over here. Can you help

6:43

me? And I was like, what's going on? And she was like, she

6:45

sheepishly told me the story. And

6:47

I shit you not within 47 seconds.

6:50

I found the research of it that showed that it was a

6:52

scam. And she did not believe me did not

6:55

believe me. And then I said, Okay, well,

6:57

just tell the scammer that you're dead. Tell

6:59

us get have it. Have this be like

7:01

from my brother. Hey, my mom, she's

7:03

not waking up. Hey, and then

7:06

and then his first message was, Oh, well,

7:08

maybe you can connect me to your

7:11

your brother. Maybe he can pay me. And I was

7:13

like, yeah, you see the

7:15

zero empathy and compassion on it. Here

7:17

was some dude that was hanging out in Turkey. Originally

7:21

from Senegal, like which attracted

7:23

dude figured out who he was. And

7:25

I know exactly where the dude was.

7:27

And I could have gone and met him. But I was like, you know what, mom,

7:30

don't be doing this dumb shit. Like this. And there's

7:33

so many easy. There's this guy called

7:35

scammer

7:37

payback scammer

7:39

payback the guy who gets on YouTube. And

7:42

oh my god, he's so good. He goes

7:44

in and finds the scammer call like literally,

7:47

they're trying to get you to scam Apple

7:49

scams, PayPal scams, Microsoft,

7:51

you know, virus scams, all

7:53

these are scams, they don't, they're not the main

7:56

thing. Tell especially

7:58

those that are more vulnerable.

7:59

If you've got your mom,

8:02

your dad, your aunt, if you've

8:04

got somebody that isn't quite technology

8:06

savvy, the ones they're going

8:08

to go after, tell them, hey, your financial

8:11

institution is never going

8:14

to do something like this. They're

8:16

never going to reach out to you saying, hey,

8:18

your account's in jeopardy. You're not

8:20

going to get an email from them that says, click this

8:22

link to fix your password. You're not going to

8:25

get a text from them. If they're doing that,

8:27

they're trying to steal from you. And if

8:29

they ever

8:29

say anything about phone cards, that

8:32

is the huge red flag. And

8:34

they're going to threaten you and they're going to threaten

8:37

family members. If you don't do

8:39

this, don't do it. Call

8:41

the authorities. They want Apple

8:43

Cash, pay cards. They want to

8:46

get the virtual credit cards,

8:49

Amazon gift cards. And

8:51

typically what they'll do is they'll do something

8:53

where they connect, they try to connect

8:55

into your computer because they're

8:59

the customer service. So click

9:01

this, let me get into the computer. And then

9:03

what they do is they, a lot of times they'll show

9:05

you, oh, oh, the $600 that we took

9:09

from you, whoops, we'll give it back to you. Oh no, I

9:11

just sent you back $6,000 accidentally. And

9:15

they go, oh, now you owe us money. You can't,

9:18

you just gave us 6,000. You just, you know,

9:20

and so they scare you into

9:22

thinking that that happened. Think

9:26

about this, Trev. We're given this gift

9:29

of life

9:29

and it's short. It goes quickly. And,

9:32

you know, some of us live longer than others,

9:34

but it's a gift no matter what. Imagine taking

9:37

that gift that you've been given in using

9:39

it to harm other people. What

9:42

a piece of human debris, like

9:45

the bottom feeders, the scum of

9:47

the earth.

9:48

Basically there's some, this retribution

9:51

at the end of this life

9:53

cycle, before the next life cycle

9:55

or however it works, that they got to deal with all

9:57

that stuff. And they go, oh man, I really screwed

9:59

up. holy cow.

10:02

Justice, there will be justice. I believe that. Let me

10:04

move the story around here because we're talking about interesting

10:07

crazy people shit going down. Let's

10:09

talk about BitBoy. Not

10:11

that he's a shitty person, but just like some crazy shit

10:13

has gone down. And I'm really upset right

10:16

now because Joel has my Lambo.

10:18

Joel has my Lambo and I'm going

10:20

to go live stream outside of his house. You need

10:22

to give me back my Lambo Joel. Look, I

10:25

I've got nothing against Ben. We've always

10:27

you and I have always been very friendly. We knew him

10:29

before he blew up. He

10:32

used to do beards and bitcoins with that other

10:34

dude and we know Justin

10:37

and nothing

10:40

but love for you, Ben. My

10:42

take has always been, and I don't

10:44

know if I've said this publicly or just to you privately,

10:47

that he's just

10:49

asking for trouble. He's

10:51

so brash in his

10:54

public approach. He's touted publicly

10:56

telling people to actually buy certain

10:59

coins. Like we've never done that, guys. Go go

11:01

through our episodes and find

11:03

a time where we've ever said you should

11:06

invest and buy something. We're always

11:08

really clear that you need to go do your own research

11:11

and don't listen to us dumbasses. You

11:13

know, figure it out for yourself and be responsible for your

11:15

money. Why he got so big, right? Because he's out

11:17

there telling people how to

11:18

do it. And everybody's a genius in a

11:20

bull market,

11:21

right?

11:22

Yeah, everybody's a genius. Like we got to go out. Oh,

11:24

buy this, oh man, look how

11:26

smart we are. But the bear market

11:28

comes and it's not always

11:31

roses, Joel. When

11:35

we're seeing a little bit of that, this has got to be

11:37

near the bottom of the bear market, right?

11:41

When this stuff is happening right now, we

11:43

got to be close to it. Dude, he didn't

11:45

have seen that 37 minute

11:47

thing he did that ended

11:50

with him getting arrested. Yeah, he's not

11:52

BitBoy anymore. So the company that

11:55

either owns or funded what he's done, the HIP

11:57

network, basically took his company.

12:00

I don't look I don't know who's right or wrong

12:02

and I don't know who's telling the truth I have no idea

12:04

because you know you they know their

12:06

story They know their story and somewhere

12:09

in between is is what actually happened

12:12

but Ben feels slighted

12:14

and he went to the house of

12:16

Carlos Diaz who is somehow

12:19

linked to this hit network Said

12:21

that Diaz wanted to kill him threatened

12:23

his life that this guy's got links with the Houston

12:26

Mafia And he went and did this stream

12:28

You know you can see about half of it before

12:30

the cops come and he has to put his phone

12:32

down Then it's really hard to hear he ends up getting

12:34

arrested. He is out of prison

12:37

now jail and

12:39

I guess he's starting his stream up again

12:41

and You know good luck

12:43

to you Ben That's

12:46

all I have to say Harbor no

12:48

ill will at all and hope he

12:51

comes out of this Figured out he's been great for

12:53

the crypto market He's taught a lot of people

12:55

a lot of stuff

12:56

But I think that you know if you go

12:58

and look at what happened once he was having an affair with

13:00

somebody and Then he was on some

13:03

drugs, and then he was acting very erratic

13:05

So hopefully if you're on drugs, and you're

13:07

don't do live streams, bro I mean if

13:09

that's the case I don't know the case what's going on But

13:12

just as a general rule

13:13

if you're on some serious drugs don't put that

13:15

shit on social media I'm not

13:17

a big fan of people putting their their

13:20

private life Public anyhow

13:22

you know that he's like hey your

13:25

marriage is bad. You're cheating on your wife

13:27

alright that whatever That's your personal

13:29

business But the cop when the cops

13:32

showed up they want to know if anybody else was in the car He

13:34

said he had a gun in the car And it was anybody

13:36

else in the car and he hesitated several times

13:38

the cop kept it kept asking him And then he finally

13:40

said his his lover Cassie

13:43

was in the car like this is all drama What? Yeah,

13:46

it's so much drama. It's like this

13:49

is like a TMZ thing or something

13:51

But he

13:51

was getting back with his wife because he was a family man

13:53

anyway. This is all private Personal

13:55

live stuff. I don't know people like

13:58

to watch a train wreck Unfortunately,

14:00

I've had enough train wrecks in crypto

14:03

over the last 18 months.

14:05

Joel, let's talk about something good. Here's something

14:07

good. MicroStrategy

14:10

bought another $147 million worth of Bitcoin, Joel. Look

14:14

at this. Now Michael Saylor and MicroStrategy

14:16

own 158,000 Bitcoin. Let

14:20

me just do... The article

14:23

probably says... He's going to get up to 210 Bitcoin, 210,000 Bitcoin.

14:28

My calculator times out on the value

14:30

of this. So let's see if we see what the value is

14:32

here in the story. 4.68 billion

14:36

is the current holdings in Bitcoin and MicroStrategy.

14:39

I mean, this is either the

14:41

dumbest move in corporate history

14:44

or the most brilliant. And

14:46

I'm going to err towards most brilliant.

14:48

I think that I personally

14:50

believe, not financial advice, that we're

14:53

going to see higher highs on Bitcoin

14:55

and that the value of this portfolio

14:57

is going to go from 4.6 billion

15:00

to over 15 billion.

15:04

I think that's

15:04

going to happen.

15:05

Yeah. And they've done some really cool stuff

15:07

with MicroStrategy. I read that. So

15:10

people within MicroStrategy can

15:12

earn satoshis by doing

15:14

stuff. And I think that

15:16

I love that idea, kind of like how we had that

15:19

interview with Fountain. Listen to our

15:21

podcast on Fountain, earn satoshis.

15:24

That's cool. I think more and more people

15:26

are going to be able to like, so within

15:28

their system in MicroStrategy,

15:30

you can actually like, oh, this dude, you can dab

15:33

them up. Oh, Joel just did something awesome.

15:35

Boom. Get him some satoshis.

15:37

Yeah. So in their corporation, they

15:39

are, everybody is aware of

15:42

Bitcoin, right? And they're actually using

15:44

it as microtransactions within

15:46

their company, which I think it's

15:48

cool. I think it's a pretty, it's an interesting

15:50

future model of how maybe organizations

15:53

are going to do this, but dude, when it's all said and done,

15:56

dude, he's going to have 1% of Bitcoin. Pretty

15:58

amazing. So remember

16:01

how all these past years we've been talking

16:03

about how China keeps flip-flopping,

16:05

we're banning Bitcoin, we're not banning Bitcoin, we're

16:08

banning mining, we're not banning mining. Well

16:11

this just came from Shanghai,

16:13

Bitcoin has now gained legal recognition

16:16

as a digital currency in

16:18

Shanghai. It is a virtual property protected

16:21

by law. So there's

16:23

really no turning back from this. This

16:26

I believe is the nozzle

16:30

that opens up the spigot for

16:33

Bitcoin to become more legitimate in

16:35

all of China and these other countries

16:38

that have said, we're not so sure, we want

16:41

to let this happen here. Well

16:43

it's interesting, there's still a blanket ban

16:46

on crypto in China. However,

16:50

Bitcoin has now been recognized as a unique

16:53

and non-replicable digital

16:56

asset.

16:57

So by the People's Court in China

17:00

with Judge Wapner.

17:01

Yeah, Bob, Bob, Bob, Bob, Bob,

17:03

Bob, Bob, Bob, Bob, Bob,

17:06

Bob, Bob, Bob, Bob, Bob, Bob, I'm

17:09

Doug Llewellyn. Oh my gosh, I

17:11

remember Doug. No, no, no, you'd be, I'm Doug

17:13

Ruhr-Ruhrin. Dude,

17:18

I love that though, non-replicable digital

17:21

asset, that's what Bitcoin is. And so

17:23

it's never been replicated, nobody can, you know,

17:26

that's huge. So let's see what that does.

17:29

And I see some little rumblings and some grumblings.

17:31

It looks like, you know, what we know, crypto

17:33

has been up 5% over the last week. That's a nice

17:35

move. I personally want

17:37

Bitcoin to stay down until like early

17:39

November so

17:40

that I could buy some more. While

17:45

Communist China is saying, you

17:47

were going to like recognize this currency,

17:50

wimpy limp-wristed banks in

17:52

the Western world are going, no,

17:57

we don't like Bitcoin. Chase

17:59

UK. It's gonna block crypto

18:01

payments saying there's fraud and scams Well

18:03

in that case you should you should totally ban

18:05

the euro because I guarantee you more

18:08

money is stolen Via

18:10

the euro every year than via crypto

18:13

You should maybe ban money being sent to

18:15

Ukraine. So we don't want to have any you know Any

18:18

laundering or anything probably don't want that So

18:21

if you are a UK client of

18:23

the banking giant chase You

18:26

are no longer going to have access to

18:28

off ramp your crypto Starting

18:31

on October 16, right? Now

18:33

that's the key thing is like I think that what

18:35

makes crypto so helpful now is

18:37

because it's kind of a hybrid You can do the

18:40

on ramp of fiat onto crypto

18:42

of the coinbase and then buy your cryptos And

18:45

if you want to sell it you can take it off and

18:47

you can access that fiat money when you need it

18:50

If they start taking that stuff away like

18:52

what they're doing in the UK Yeah, that's a

18:54

bad thing. And so recently coinbase

18:57

was in Washington, DC talking

18:59

about hey, you know You know sharing

19:02

with senators about what was going on and they created

19:04

this cool little can it said I think it said

19:08

52 million people in America had crypto

19:10

or something and they were talking about all these jobs

19:13

and it's like this is a great job Creator

19:15

but you know, we've been talking about this for six years man

19:18

If you're gonna keep banning crypto

19:20

and eliminating innovation or allowing

19:22

people in America to access it Well,

19:24

then they're just gonna leave America And

19:26

so let's stop doing that dumb shit in the

19:29

UK is becoming more draconian

19:31

by the day It seems look what a spokesperson

19:34

for chase UK said in an email

19:36

to customers We're committed to helping keep

19:38

our customers money safe and secure

19:40

lie. You're not committed to that The

19:43

money's not even there in the bank We've

19:45

seen an increase in the number of crypto scams

19:47

targeting UK customers So we've taken

19:49

the decision to prevent the purchase of crypto abscess

19:52

on a chase debit card or blah blah blah Translated

19:55

we like our corrupt system the way

19:57

it works now. And so We're

20:01

not going to allow infiltrators to

20:03

infiltrate, interrupt our corruptitude

20:06

with an opportunity for people

20:08

to be free from the system

20:11

which we have enslaved them to. I

20:13

think that's what it said pretty much. There's something along

20:15

that. In just a couple of months, we're going

20:18

to roll out our own CBDC to

20:20

chase bank digital currency. Yeah.

20:23

Then all you bitches are ours. This

20:26

is why our next episode, number 699, is going

20:29

to be super important. We've got Jamis

20:31

and Lop coming back to the show to talk

20:33

about the importance of holding your own

20:36

keys, being your own custodian

20:38

of your crypto. Make sure that you're

20:41

subscribed so that when that episode

20:43

comes out, it automatically comes your way and

20:45

you can hear how important

20:47

this is. What do we got going on here? This

20:50

looks like big growth in the crypto

20:52

fund world, Trav.

20:54

Yeah. There are some

20:56

discussions happening. According

20:59

to Bernstein, which is a big research

21:03

team, they basically said that a

21:06

lot of these funds are going to grow. These crypto

21:08

funds can grow by as much

21:10

as 13x, which

21:12

could be huge. Also

21:15

I'm looking at these things, Joel. I

21:17

know there was one billionaire. I'm going to say if I can't

21:19

find the name of the

21:21

guy who said it. He said this, right

21:24

now Bitcoin total value

21:26

is about $500 billion or something, whatever

21:29

it is. At least that's what it was at the time.

21:33

Looking at that and then looking at where it

21:36

could go, he's like, dude, Bitcoin could easily

21:38

3x. If it's a commodity, you're

21:40

looking at commodities and how big oil

21:43

is and gold and all this. Then

21:45

Bitcoin's only $500 billion. It

21:48

seems to me, it seemed to him 3x

21:51

is really easy. You're not going to 3x gold,

21:53

but you might 3x Bitcoin. You

21:56

might 5x Bitcoin, right? You

21:58

5x Bitcoin from $2,500. $25,000 to $125,000 or something

22:00

like that, that's a nice chunk.

22:07

Maybe Bitcoin goes up to $250,000. Then

22:09

what happens is the total market cap of

22:12

it went from $500 billion

22:14

to $5 trillion. I could

22:16

see the whole crypto market

22:19

space, market cap, hitting $10

22:21

trillion or close to $10 trillion during

22:24

this next bull run. That's not financial

22:26

advice. That's just Travis looking

22:28

at all the pieces and saying where it could go. If

22:31

it does, there's going to be a whole lot of wealth

22:33

coming in, or it could be that

22:36

people needed to get into crypto because the global

22:38

economy is taking a tank. But

22:40

then again, last time the global economy took a tank,

22:43

Bitcoin took the tank with it. It went

22:45

all the way down to three grand, so $3,800 or whatever.

22:48

It's always interesting. It's hard to prognosticate

22:51

this space because it can be so volatile

22:53

and then crazy shit like SBF can happen.

22:56

There are forces intentionally

22:59

playing against it. Even

23:02

a blind squirrel finds a nut from

23:04

time to time. Gary Gensler, Security

23:07

Exchange Commission, said that Bitcoin

23:09

is not a security. It's like, yay,

23:12

he actually did something right

23:14

amongst all the other overbearing,

23:17

tyrannical statements that he's

23:19

made against cryptocurrency and

23:21

Bitcoin. He's a tyrannical source, Rex.

23:24

He is. Hey, Trav,

23:26

you know that Taylor Swift

23:29

is now dating Travis Kelce, right?

23:31

Really? I hadn't heard that

23:33

at all. Yeah, I'm sure you had heard that. I've

23:36

heard nobody who pays attention to the NFL has

23:38

heard anything about that. I don't understand why

23:41

Russia thinks that she needs to be killed

23:43

over it. I don't get it. There's a story right

23:45

here on Bitcoin.com. Russian banker states

23:48

Swift needs to be killed. Oh,

23:50

man. Oh, man. Why

23:52

do they hate her so much? That's a fake financial statement. Oh,

23:55

OK, never mind. You need

23:57

to calm down.

23:59

Okay, so let's talk about Sam Bacon. Wow, step

24:02

on my crown. You need to calm down. My

24:05

daughter loves Taylor Swift and

24:07

we're fans of the Chiefs. And so you

24:09

can see she's really happy. And I said, you know what would be funny?

24:12

Because like Taylor Swift and Travis

24:15

Kelsey were both born

24:17

in the year 1989.

24:19

So I thought, oh, I might get you a 1989 Chiefs jersey 89

24:21

that says Swift on the back. She

24:25

goes, ha ha ha, that's awesome. She's like, but you

24:27

need to calm down, dad. Just wait until they're

24:29

dating for at least three months before we buy

24:31

a Chiefs jersey. That's

24:34

wisdom from your daughter here. So you just mentioned,

24:37

you mentioned Sam Bankman freed and

24:40

you found this story here. What is, what's,

24:43

what's he tied to now?

24:45

Well, there was some stuff going around. There was, so

24:47

whenever FTX, you know, got busted,

24:50

then there was some remaining crypto left

24:52

in there and then it got hacked. I don't know if you remember that,

24:54

like, oh, FTX got hacked. And

24:56

then so after, you know,

24:58

the, the, the global empire

25:01

had collapsed, essentially, there

25:03

was, I don't know, 22, two or 3000 East, I think at the time was gank. And

25:09

then it had been sitting for the longest time. But

25:11

what happened was this last week, it actually

25:13

started moving. So 700 East

25:16

were transferred via for change. 1200 was

25:19

transferred from railgun. Another some

25:21

odd amount was sitting in another wallet. So

25:24

it's for the first time that

25:26

that had happened. And I guess there's 12,500 East

25:29

still sitting in that original wallet. So

25:32

who knows who drained that? I don't

25:34

know. But it seems interesting

25:37

when you're kind of piecing it all together and looking at

25:40

it. It seemed to me that originally when it happened,

25:42

it was probably an inside deal. But

25:44

I don't know. I don't have any information on that other

25:46

than, Hey, that's moving now.

25:48

Well the SBF trial is

25:51

about to begin. So we're going to be keeping

25:53

an eye on that as well. And

25:56

the same as a cover on that there is

25:58

on coin desk.

26:00

There is the full coverage there. I'm gonna go ahead and

26:02

put that into the show notes because there's a

26:04

full coverage of what's going on with SPF

26:06

now all the stuff. There's a bunch of

26:08

articles Here's the story Sam bankman

26:10

freed FTX trial five things that you

26:13

need to know all that We haven't had a chance to dig

26:15

into this so you guys can go check out the show

26:17

notes at bad code at I in forward

26:19

slash six nine eight to see link

26:22

to this stories and Others

26:24

ending on a positive note Travis the story

26:27

on coin telegraph says massive crypto

26:29

use cases to surface by 2030 Says

26:31

a coinbase executive file

26:34

this under no shit Sherlock

26:37

Like of course it's coming. We

26:39

needed a coinbase executive to to tell

26:42

us that this is coming everybody

26:44

who's seen the vision of Bitcoin

26:47

and understand or Understood how blockchain

26:49

technology works can see

26:51

that adoption has not

26:53

stopped I don't care if the the bear has

26:56

been going rararar This is

26:58

when people are building and they're building

27:00

like crazy and all around the

27:02

world I you know, we said this six years ago

27:04

early on in the show and I'll say it still today all

27:07

around the world governments organizations

27:10

corporations enterprise small business

27:13

individuals are all Developing

27:16

in this blockchain space

27:18

and every day there is more development

27:20

that has taken place than the day before It

27:23

is a constant growth curve

27:26

in this space And it's it seems

27:28

like it's going to be one of

27:30

those Slowly and then

27:32

suddenly things

27:34

right that look at that chart right there Joel

27:36

halfway down that article that it says transactions

27:39

on a theory and magnet Versus

27:42

transactions on layer twos, right?

27:44

I mean look at that from this is the bear market

27:47

So started out that it's a map

27:49

from coin telegraph that said like basically

27:52

in September 22 Then

27:54

we're looking at transactions per second. It looks

27:56

like maybe 15 transactions per second.

27:59

We're happening on the main net and then you

28:01

know about the same amount on

28:04

the second L2s. But

28:07

then you start looking like boom boom boom boom boom boom boom

28:09

boom boom boom boom. Now it's up to almost 60

28:12

transactions per second whereas the

28:14

main net is pretty much staying stationary

28:16

it's not really moving up more. But look

28:18

at all those like polygon that's

28:20

built on top of it right and

28:23

you have immutable acts and some of these other ones

28:25

that are built on top of Ethereum and all

28:27

these transactions that are happening like

28:29

it's trending it's trending straight up

28:32

and to the right Joel so that what does that

28:34

tell us?

28:34

Tells us that it's coming ready or not

28:37

there's no stopping it you can't

28:39

stop it. A lot of

28:41

things being built in the space this is so it's

28:43

like builders are building and we're

28:46

now so when is the having

28:48

it's in May right or late April sometime

28:52

let me look it up while you share that

28:54

thought.

28:55

Yeah so it's like thinking about this like

28:57

we are about seven

29:00

eight months it would seem to me

29:02

away from the having I don't know the excuse

29:05

me the exact amount but I think you know

29:08

T minus six months I

29:10

think the grumblings that we're starting to see in Bitcoin

29:13

right now are probably the are

29:15

probably the beginning movers

29:18

of this next bull run not financial

29:20

advice but just saying keep an eye on it me

29:23

personally when I sell my house I'm buying some bitcoins

29:26

because I have a feeling that

29:28

we're going to see past the top sixty

29:30

nine thousand was before probably going to

29:32

hit close to a hundred thousand might hit a little

29:35

bit more than that depending on what happens

29:37

but if this is anything

29:39

like what's happened before we're going to start seeing the

29:41

run up then it's going to be a bigger run

29:44

up and then in about November

29:46

of 2025 is when we're going to

29:48

start seeing maybe a pop up and then a quick

29:50

pop down like November December 2025 historically

29:54

that would be when crypto starts tanking right

29:56

in January it has this little last hurrah

29:59

before it falls off the cliff. That's what it's done

30:01

three times before. Right. So

30:03

you look at when, when is the market's

30:05

peak? It was normally in November or

30:07

December of that next year. And

30:10

then, ba-boom, then it does a quick 40% sell

30:12

off. Something happens. But

30:15

with Bitcoin having becoming, you

30:17

know, much less, only 3.125 per block mine is,

30:20

is

30:22

a much smaller reward.

30:24

So how does that going to impact at all?

30:27

Remains to be seen to me, Joel. Well, you

30:29

know, my common

30:31

sense says that that means

30:33

it's going to cost miners more

30:36

to mine for the

30:38

Bitcoin that they're mining. And so how

30:40

does that not drive

30:43

the value of Bitcoin up and what happens

30:45

if they can't afford, remember before in the, the,

30:47

when the bear market was really bad, a lot of miners

30:50

shut down mining cause it wasn't profitable.

30:53

And what happens? Well, the Bitcoin network is so

30:55

resilient. You've got other people that just pick up

30:57

the slack. Like, Oh, this is a great opportunity

31:00

for me to turn on, you know, my PC

31:02

and see if I can mine some Bitcoin.

31:04

It's absolutely brilliant. So

31:07

mining Bitcoin, you guys are going to want to tune in again,

31:09

the next episode, number 699 with

31:12

Jamison Lopp, as we cover a

31:15

lot of that kind of stuff. And

31:17

he is just a wealth of information. His

31:20

website, lopp.net is

31:22

a huge wealth of information. Check

31:25

that out before you listen to next week's episode,

31:27

and then just tune into how brilliant this

31:29

guy is. You're going to want to listen to his words

31:31

because he has a few of them. And after

31:33

that episode, number 700

31:34

is coming your way. And

31:37

Surler, Travis and I will recap,

31:39

revisit our thoughts from the 700 episodes,

31:43

as well as thoughts from this bear market.

31:45

What did we see? What didn't we, what did we

31:47

miss? What do we wish we had done? What

31:49

do we think is going to happen next? So stay

31:52

tuned for all that. We appreciate you guys. Thanks for

31:54

being a vital part of the Republic

31:56

of Bad Cryptopia. And thanks for listening.

31:59

We really. appreciate it. I want

32:01

you to picture both Travis and I looking

32:03

you directly in the eyes at the same time.

32:06

Both of us looking like one eye is looking

32:08

at me, one eye is looking at him. It's

32:10

not weird and we're both saying we

32:12

love you. And you're feeling

32:14

that love. Do

32:17

your best Marty Feldman. Okay,

32:21

if you guys don't know who that is, look it up

32:24

and you'll enjoy that. We'll catch you next time until

32:26

then. Stay bad. I

32:29

might need to be on the thumbnail. Marty Feldman.

32:31

Oh, that would be fantastic. With

32:34

a little bubble over his head thing. I love

32:36

you.

32:36

Stay bad.

32:40

You. Who's

32:56

bad? The

32:58

bad crypto podcast is a production of bad

33:00

crypto llc the content

33:02

of the show the videos and the website

33:04

is provided for educational informational

33:07

and entertainment purposes only it's not

33:09

intended to be and does not constitute

33:11

financial investment or trading

33:13

advice of any kind you shouldn't make

33:15

any decisions as to finances investing

33:18

trading or anything else based on this information

33:20

without undertaking independent due diligence

33:23

and consultation with a professional financial

33:25

advisor Please understand that the trading

33:27

of bitcoins and alternative cryptocurrencies

33:30

have potential risks involved Anyone

33:32

wishing to invest in any of the currencies or tokens

33:35

mentioned on this podcast should first

33:37

seek their own independent professional financial

33:39

advisor