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Junior Varsity Football
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welcome to big boy crypto home of the bit squad the largest and greatest crypto community in all of the interwebs no channels working hard to keep you in the know when it comes to crypto and this around the blockchain coming monday through friday at 503 pm eastern standard time where we talk about your favorite topics with your favorite guests today no exception and half our guests don't have sleeves we're going to start on the top right we have wendy oh and hey she just got delivered some delicious looking tacos make sure you follow her twitter she's always got some spicy takes some pics there of food also on the bottom right we have you know used to become the man in black but he makes that johnny cash and that johnny crypto tim warren tim's ta and then on the bottom left he's he brought out the guns altcoin daily he is getting swole from all his dance competitions then on the bottom top left there of course we have ben armstrong shaking his head saying no one danced better than me have you seen my moves on the cardboard digital commodities have we finally found clarity also of course we have to talk about the solana exploit currently ongoing it's been another thorn in the side of the solana maxis and also the crypto and esports harmony but before we do let's uh get to this crypto market watch let's see what is going on with the broader markets and it seems like bitcoin still you know just kind of hanging out slightly above that 23 000 level up slightly aetherium bucking the trend even though bitcoin's slightly in the green ethereum a slight dip but still above 16. looking at 16 45 right now now wendy we're gonna get into it a little bit we have a little bipartisan bill looks like a little clarity on the crypto front how are the markets looking i mean are they reacting to this news at all or is this just kind of trading within the the channels and the ranges that we were expecting so when it comes to bitcoin bitcoin's actually starting to struggle a little bit about uh around this resistance areas looking for earlier but now we're starting to see a little bit of a struggle um we're seeing that we're having issues breaking above that 23.6 area as far as altcoins go they're looking good but if bitcoin cannot get above this 23.6 area then we will head back down so i would be immensely careful i actually posted a bunch of charts on twitter if you all want to go ahead and read those that's fine if not that's fine too um but yeah we really need to kind of get above that area and unfortunately that's just the type of market we're in is we're just waiting for these little mini pumps reclaims of these um support areas flip them into resistance and then hopefully we flip above uh approximately where is this we need to really get above 26 6 to be kind of bullish okay now i see the diagonal line clearly you know it's looking like it's a little support there but these horizontal lines is that based off you know just support levels you know this is where the it trades at or is this based off any kind of fibonacci levels what are we looking at with the whole no these i mean if you honestly if you pull fibonacci up they're going to be pretty accurate but these are just based on opening opening and closings of different time frames like the weekly or the daily the six hour et cetera but this big one this big daddy one over here the one that's like the most important is going to be the downtrend that we've been in since the swing with high of october 8th of 2021 and approximately 69 thousand dollars and that's why i have um that area about like about um 26 700 and then we also have 32 thousand dollars those are super super important for me um but we'll see what what happens and we did create a local bottom but again i still stand with bipoy thinking that this is not the bottom for the bear market we're probably going to see a breakdown of 17 6 or 18 7 to approximately 10k and i will stand by that all right the bulls are on parade but maybe the bears are in control here but let's talk about the senate bill they're maybe going to classify bitcoin and eth as a digital commodity and of course maybe our would-be saviors the cftc kind of going after the sec saying you don't know what you're talking about they want to pass the digital commodities consumer protection act this is a bipartisan agreement senator stabe now i believe and john boozman also my nickname in college there and they want to create basically a new digital commodity one fact about the cftc they actually don't trade they don't really regulate the underlying commodities but the derivatives based off those commodities so they don't really regulate pork belly but they regulate the pork belly futures just for an example there now ben i i got to bring up ginsler here because we talk about the cftc trying to take some power ultimately they're trying to take power from gary gensler now you have them not only we've seen remarks criticizing him now we have a bipartisan agreement maybe effectively neutering his power here have the powers that be even gotten tired of ginsler what is this signaling to you well i've been very clear that i at most he only has one testicle at most so if you're gonna neuter him uh hopefully he gets fifty percent off yeah half price steal half price deal with gary gensler um wow yeah because they really had they shaft them if they charge them full price there they would and obviously the scales of justice here have spoken uh that's a lizard person joke for y'all that didn't get it uh look here's the thing we are going to see the cftc taking over here um i i believe that gary ginsler his it's starting to become clear i talked about this on the live stream this morning gary ginsler's legacy is getting ran over by ripple that is going to be his legacy he will go down in history as the commissioner with zero wins all losses and got ran over by a bus uh and that's really exciting um if it happened in real life that would be great too uh i mean well i don't want to say that i mean but uh you know the thing is is we got to get this guy out of power he is bad for crypto he is a wolf in sheep's clothing uh he is a human and he's a lizard in humans clothing some people may say but the whole thing is this guy it's from mit he taught blockchain he knows his stuff none of it what he says is authentic it is all a game i don't know if you guys saw jeremy hogan uh his reaction video to the garry gonzor exchange video that came out over the weekend it was hilarious like the the things that the points that gary ginsberg tries to make are so idiotic that it just stands to reason that everything that he does is a show like he can't look gary kinser's dumb like i'm just gonna say it he's dumb he's a little like you this guy's an idiot there's no question about it he has he he didn't develop past lizard prank uh if you guys know what that means there's no question however when it came to this thing over the weekend like there's no way he can be that dumb there's no way he can be so stupid that he puts out these comparisons between what it's like comparing an electric car and a crypto exchange that doesn't make any sense gary dirty gary he's dirty for a reason he comes from goldman sachs mit background this guy he is set to destroy crypto he wants he wants his legacy to be something different than it's going to be and he's grasping at straws at this point and it's uh very obvious that now both parties are starting to unite against him i suspect this man doesn't make it to january okay oh goldman gary we also like to call him g3 around here now tim i was looking at part of the bill and the bill says it needs to exclude securities from simultaneously being labeled as a digital security or a digital commodity there where do you foresee happening with this labeling if they do get a little clarification hey you're a digital commodity we're gonna control you know any jurisdiction over that entity but you know are you a security or not do you foresee a thousand ripple cases here a hundred ripple cases is this just gonna multiple chains gonna try to bog down the sec or the government in court how's this gonna play out are they gonna just say hey here's the list 500 coins of the top thousand we don't think these are securities or is it just going to be hey we're given clarification but really we're left in the dark yeah i mean honestly uh what is a security i don't think i don't think people are really yet sure what constitutes a security you're asking gary gensler and even michael saylor you're going to pretty much say everything except for bitcoin i think gary has kind of said bitcoin he's going to rule out at this point but i think he's even trying to throw ethereum in there but i don't think it's going to win i think that there's going to be some debates going on and and here's the real question even when you get into the cftc i think this is phenomenal news for crypto because by the way another uh bill that's going to be going before senate which we heard about more recently is that bill for potential exchanges of payments less than 50 to be used or tax free phenomenal i think that us getting a bill passed to say that uh the cftc gets to to control everything in crypto that would be a lot more intriguing to me so i would love to know what chad thinks about that which bill they'd rather pass either way there's still a lot of debate out there about what security actually is gary gensler wants to classify everything as one and yet i don't think that's how that's gonna go and i think what's really interesting even as we start to open up you know with the cftc getting involved here i don't know if any of you guys who are at consensus got to listen but one of the former commissioners from the cftc don de berry stump she actually even posed the question is bitcoin even a commodity should it be treated actually more like cash in which case there is no taxi so i would love for it to go under the power of the cftc because there are some people and she's no longer commissioner she i think her she ended in april i think she she her term ended in april but she was just in power and she is someone who's actually seriously questioning if something like bitcoin shouldn't even be treated as a commodity and so how nice would that be it seems like the commodity team is a lot more on track with what's happening in crypto either way though no matter what happens no matter whether we you know get the cftc in there i would much rather than them be there than the securities and we're ready for just freaking clarity in the regulation market i mean it it's something we knew was gonna happen not a lot of people want it to happen on our show we've talked about a lot of people treat it the same word as moist uh no one likes to hear it uh but the word exists regulation is not gonna be fun but it's about time we just get some clarity and i'm really really hoping this bill goes through and those of us who are invested in crypto actually get to uh have real clarity on what's happening and then watch those institutions in wales who have been sitting on the sideline for years now kevin o'leary talks with us all the time there's billions if not trillions of dollars just sitting on the sideline waiting and similar i know you guys talk about this on your channel there's so many so many arrows pointing to that november december maybe early 2023 uh area as being a potential bottom maybe this bill starts to pick up some heat and we start to see a momentum build right there where those institutions of whales start getting in i'm i'm really fascinated to see how this uh unfolds but uh at this point i'm super excited about this build yeah there's a good point all this money sitting on the sidelines just waiting those palms they're getting moist you know speaking of moist but let's hoist on two uh altcoin daily here where do you think we're gonna get more clarity in the long run is it gonna be from cftc you know actually getting power here or is it gonna be from sec versus ripple quick bonus question should bitcoin be treated as a commodity or a currency i also want to know that that's a good question that last one i mean i think for in the in the near term let's treat it as a commodity that's the best thing in the near term and then maybe in the future more as a currency once it becomes more of a medium of exchange regarding your question sec versus cftc you know obviously they work together everybody in crypto obviously talks about gary gensler and the sec because they're the one finding people and you know bringing people to court with the doj but there are obviously more than securities in crypto bitcoin commodity ethereum probably a commodity that's the way they traded in canada that's the way they treat it in australia those two organizations are working together and going to have to work together and i liked what tim was saying because the fact is we're just waiting at this point because it's pretty obvious to them and just different leaders in politics in america that crypto's here to stay we don't want to fall behind and we're well past due and as crypto holders what's going to happen is this regulation will come there will be a spectrum whether it is very good and clear regulation or maybe it's a little you know not as good either way wherever it falls on the spectrum unless it's really really bad it's ultimately going to be good for crypto in america and it will give more institutions more larger money the chance to buy in because what's really holding a lot of people back is the regulatory clarity and for specific projects if they're deemed securities perhaps it might not be good for specific projects but overall it's going to be great for the industry in america all right now speaking of specific projects let's talk about solana and yes another exploit i kind of want to just share this chart real quick this just from the past 24 hours we're approaching on from 24 hours ago so you can see it being normal trading sideways and then all sudden just falling off a cliff just much like my hairline there and a slow but steady climb which i just couldn't understand wendy we'll get into the the weeds of what actually happened here but i want to know what is up with this price action we've long been flabbergasted salon is down for seven hours price is on parity with what bitcoin did we see it time and time again i think you know when i was looking earlier it was down half of a percent bitcoin was flat why doesn't solana behave like you would expect it when a chain goes down when a chain is hacked we see it with smaller alts cough cough follow the money cough cough alameda cough cough everybody else who's got their hands in this particular project listen i've got a moon bag of solana okay got a moon bag of it because i like money okay what is happening is you solana is a very centralized project and that's not bad you know it is what it is but you have to pay attention to who has invested in it what is their interest there's also a connection between solana and usdc the circle people and i really think that uscc could potentially become very close or very very close to becoming the cbdc of the united states because american paul america's public servants are absolutely lazy they are lazy they have done nothing since 2017 to do anything positive for the industry or for the economy of the united states of america but why would people that have money why would they let their project die why okay good point now ben you know i you know kind of want to touch on the specifics just slightly here it looks like it was a little ios exploit phantom truss wall also affected uh you know linking this but i really want to know your opinion on what mechanism because i i agree with wendy i think there's some big money behind it and somehow they are preventing this price from plummeting what is the mechanisms they're using is it just abnormally large liquidity pools for panic sellers won't move the market are they counter trading and buying up the dip how are they keeping this price up despite all this catastrophic news well i i think that when you look at it um you know that they're buying it up is what they're doing when people are selling they're just coming like i want you to think about how much money these solana whales from the bull run are sitting on like when you really think about these people selling the top what was the top for it 300 about somewhere around yeah a little above 250 yeah well above two yeah so 250 and then everything collapses and they make so much money we see this with ft projects you know what will happen is these people make so much money and they keep making sales on the secondary market so what do they do when some of the smaller holders start selling they buy it up they're losing money but they're buying up the floor price and keeping their own value at a higher value than the amount they're losing by buying a new one and so that's kind of what you see here now now keep in mind like ftx and solana are as thick as thieves together so you have an entire exchange full of liquidity um where you're able to wash trade i'm not look i'm not accusing them of wash trading but we all know wash trading happens in crypto and when you look at projects that are keeping the volume and keeping the price high despite you know the overall market dropping and having these kinds of disasters um you know i think it is something to look at is there some watch training going on with it and there's just way too much money at stake here and i think um you know i really do believe that sam bakeman freed i i'm trying i'm really dicing out what i think about it and i've had a really hard time uh with him a lot of the people in this space are polarizing and you know what to think about him right but other ones you're like is this a good person is this not a good person i tend to think that sam bakeman freed is ultimately has good goals and ultimately wants good things but i think he's willing to use any means possible to get there and so i don't i don't think that any of this is outside of the range now is he the one directly doing it or directing it no i'm sure he's insulated from that but does he know this is going on absolutely um the more volume picks up over there you know the more they can eventually start swallowing up other exchanges and then that's the more liquidity they can have and the more volume and it's you know that basically the way sam bangman freed wants it is he wants it to be where coinbase uh ftx and binance are really the only games in town and um you know that that would be a huge advantage for him going forward once again you have to look at the amount of value lost by buying something compared to the amount of value lost from a price dropping and i think he's perfected that yeah yeah i would say the same and that's kind of how he got his roots was uh you know arbitrage between american price of bitcoin and south korean price of bitcoin so he definitely knows that game well but you know i have a tweet from the ceo of yakuvenko he's saying it seems like an ios a supply chain attack here we have a 0x fubar quote tweeted by cz it seems like active security incident don't know root cause yet maybe permissions granted to apps that is seems to be the the leading theory here so revoke permissions and i just want to say you know we mentioned it yesterday there's a giant hack we do have links store things on a hard wallet folks we have links if just buy directly from the uh from the account don't buy used ones don't buy them on ebay go to bitboycrypto.com we can point you in the right directions just be safe out there but altcoin daily you know we have these leading theories you know there's at the fog of war last night no one knew what was going on you know kind of look at some things here uh wallace's been active for more than six months because this is crypto and things move so quickly what's the altcoin daily take on things like this are you you know okay saying these seem to be theories do you kind of wait for things to be confirmed and you know what what are your thoughts on this whole solana hack here's my thoughts dz and great question by the way open-ended question just allow me to springboard any way i want i like that yes but this is the old coin we don't like to paint altcoin daily into a corner especially price predictions we get maybe one every five months from you and that's actually your brother yeah that's true uh you know bitcoin to 100k eventually but okay this is my take on solana what's going on in that ecosystem number one if you controlled your own private keys in a hardware wallet you would not get affected nobody can take your crypto away from you number two the question is why didn't solana drop more not only was there an exploit but and many people lost their money but also then it got taken offline like we've seen time and time again so you know obviously not decentralized and you know what is the value if it's so centralized like that and this is one theory to justify why solanus you know market value kind of like went trended back up and the other theories mentioned are also true but one other theory is that unlike bitcoin even unlike ethereum what happened with solana you know revealing its centralization it was already congruent with how everybody already thought of solana so this is not a surprise to the market it's kind of like and i don't mean to get too political it's kind of like trump cheating on his wife versus somebody like you know u.s candidate anthony weiner cheating on his wife now anthony weiner the democrat it tanked his whole you know uh you know running it it totally took him out of the race but it didn't do that for trump because it was already congruent with how america thought of trump a cheater so you know that's one way to look at it all right and you know it kind of reminds me the uh frankel senator frankel he got you know he stepped down for pretending to place his hand a certain area versus someone actually saying i grab people in certain areas that are worse areas but tim you know before we get sidetracked here a little bit do you think that the projects on solana and i don't i don't mean nfts because we're seeing it already i mean more of the the games and the dapps and the decentralized protocols do you think that they're second-guessing their solana choice now or do you foresee any of these you know jumping ship about how many do you expect that to happen to i i can't give you an answer on how many you know but you know anytime you now mention solana ever since the founder seleo i don't know what he goes by had kind of called out cardano for how slow cardano was moving you can't really now talk about solana without bringing cardano into the equation and of course i know that's what what today's show is about but of course there was earlier this week all that negativity about cardano and the bug that they found and it you know they decided charles decided hey we gotta start from scratch we're gonna fix this bug but i'm gonna go back to the beginning and go through i'm gonna take my sweet time and i'm gonna fix it are we still upset at him for making that decision after we're seeing what's happening over here and i get it it wasn't solana specifically that had a problem but the fact that that salon is not doing his due diligence to know what's going on on their platform uh you know i heard an excuse this morning from somebody in our chat saying hey solana's in beta you know give it a break they're in beta i don't think being in beta gives you an excuse for losing people millions of dollars having their wallets exposed uh i don't i don't think that's a good excuse i i think solana can can still continue to be a good platform i agree with what wendy said earlier it's centralized that's not necessarily a bad thing we've kind of been almost like trained or wired to hear centralization now if you've been in the crypto space for a while and you hear the word centralization there is this like evilness that comes with it well guess what companies and businesses have been centralized for a very long time we have worked with centralized governments and dollars for a very long time it's not new it's not the end of the world however when people are just raving about solana it's time solana starts to backtrack a little bit of what they were calling out cardano for because there's this kind of narrative that cardano is just taking a sweet time and it's you know people are excited about it but when are they actually going to accomplish something versus solana they kind of came in and they they delivered what the crypto space wanted what is the crypto space full of a bunch of people who want profits right now they want results right now they want cool things right now and guess why salon did so well because salon came and delivered the people what they wanted what did they not do though they didn't do it in a very wise and secure way that's what charles has been really big on is hey we're going to get this right the first time we're not going to make mistakes we're going to have a secure network for you solana just rushed to get it done and you know guess what there's a story about a turtle and a hair and there's a race involved in this story guess who wins the race the turtle in this scenario i'm not saying solana is over and done but i do think that now solana and the community behind solana need to start prioritizing that security uh priority they need to get that a little higher in the list speed is great i get it they're delivering things really fast that's one of the things centralized systems can do so one of the reasons why eth is taking such a long time to do what it's doing is because they don't want to just centralize all of it and make the decision for themselves vitalik was waiting for the community to kind of rally in a decentralized fashion solana because it's centralized can just go really really fast and do it give people what they want immediately this is the downside though if you guys were wondering why things need to take time and why bugs need to be checked and why we need to prioritize security we have got a great example of that over the last two days with these two hacks the really two big hacks that are hitting the space and unfortunately here's the here's the problem is if this doesn't go if this doesn't go unchecked if people don't start changing how they view these things going the crypto space is going to be a scary a scary space for any new person to come in because it already has that oh i don't know about this i can't touch it i can't see it is this just one big scam and then you get to read the headlines it says you know eight thousand wallets hacked eight million dollars 190 million dollars hacked what new person who was kind of on the fence about crypto is thinking today oh it's time to get into crypto no it that's not what they're thinking and it's giving the names like it's giving the coins like bitcoin and ethereum and cardano and so many other quality projects a bad name and i think it's time the community starts to kind of slow down hey it's nice to get results but let's do it in a secure way so that we can actually take out the real enemy and that is centralized fiat currency yeah all right great points there great points all right let's move on and talk a little crypto and esports and we have a marriage made in heaven evidently just partnerships just lining up growing and growing and specifically tsm ftx you know we're bringing up solana and uh justice you know you brought up tourism here splitting hairs here it wasn't we said solana it's a hot wallet permissions granted hack just to be clear wasn't the solana network but they did take the network down so we may say solana hack but we don't actually mean the entire chain was hacked but when it's the number one wallet you know i think it's fair to say look this is a major solana hack for sure but you know we have crypto gaming and we have tsm pouring in tons of money ftx pouring in tons of money uh coinbase uniswap tons and tons of people uh riot games league of legends many many avenues we just see it growing and growing ben i you know we we love talking gaming here we love talking crypto and esports uh you know we do have a little bit of an esports division so i kind of want to give you a chance here to kind of explain what is the hit network gaming angle when it comes to this i mean what do you see the marriage being and like how long will this take uh i want the the day where i can just give all my favorite streamers i can tip them in bitcoin you know jack mahler's going to provide me the avenue of course to do this how far are we away from joel shout out to one of our employees here how far are we away from joel doesn't even take money we doesn't even use a centralized exchange like twitch where everything is decentralized is this a pipe dream that will never happen or are we closer than a lot of people think well i think first and foremost um i think joel needs to have a smaller head and a bigger hat if he's going to be jack mullers um jack mueller is a guy that looks like he's 19 and i think he's like 30. so like robert yeah he really no he's not as cool yeah whoa he is pretty cool i like rob rob's a good guy uh jack i don't think jack mueller is not a good guy i'm sure he's a good guy but uh you know he's not my favorite person in crypto by church imagination so look i'm sure i'm not his either so there you go uh but you know what this oil boils down to is that we are closer i would say this i think this is the best possible way for me to say it we are much further away than the average person in crypto thinks we are much closer than the average non-crypto gamer things i think we're somewhere in the middle of that look uh crypto crow was on the show uh this week and he was talking about how you know he believes that metaverse and blockchain gaming and the next bull run is going to be absolutely massive and there's a chance that that's going to be true i i think there's also a chance to cycle after that um i i think obviously metaverse coins will do well these coins will do well play to earn will do well speculatively in the bull run but i think we're probably about 8 to 12 years away look there is not a crypto game that exists that is as good as a console game there's not one that exists that's as good as a console game it's not even close now you make the argument that console games in general are kind of going to go away you know maybe eight to 12 years which is potential it's a big industry but the technology needed to host powerful games is getting smaller and smaller of course over time but i think really the thing to pay attention to is how nfts and blockchain gaming fit hand in hand these this is the thing that the gamers hate because they look at people in crypto and they think we're clowns you know they think we're clowns they think we don't know what we're talking about of course two years ago they thought we were genius now they think we're clowns and everybody's an idiot in this space and if you go by gender of trade and fts you're an idiot you're low iq yada yada yada but it's the association with crypto that the gamers don't like they don't understand blockchain that's underneath it when they finally realize you're gonna be able to take your gun and move it from fortnite to call of duty they're gonna be like oh actually yeah that is pretty cool because imagine this okay imagine this uh if you were to like let's say do you remember super mario brothers 3. does anybody remember the flutes three yeah you get the flute the the warp whistle speed runner i'm sorry sorry oh do you really yeah that's that's really great b.j or you must be fred savage from the whiz uh just a virgin just for that reference also a virgin that's nice so the thing is is that you know the the hut that you would go into in super mario 3 where you would play the game where you'd have to match the mushroom the star and the flower the top piece that went over there you'd have the middle peach out of the bottom piece if you were to imagine each like uh skin emote and gun is kind of that same kind of thing where you can make a combination of of an individual skin with an individual emote with an individual gun think about how many combinations you can make from fortnite well now think about if you were to add in all the combinations you could do from call of duty or you could do from other those are the only two games i know so i don't know those are the only two first person or third person shooter whatever you call those kind of games uh shooting games that i know halo i guess maybe i know too uh but if you were to expand that universe think about how many new combinations of a character you can create and as people's digital lives become more and more valuable and more important to them as generation z is growing up having that one of one combination is going to be so valuable and i know my kids play fortnite i know how much that important how that is so that's kind of how i see things when the world is open up to them and they understand the implications of being able to keep these on blockchain and move them from chain to chain and you own your assets they're gonna be sold yeah and i would agree and just for those thinking like oh there's not enough skins just off the top of my head the amount of combinations has been said with the pickaxe and the backpack and the clothing you're gonna have trillions of combinations possibly so it would definitely go up really high now altcoin daily i want to ask you about sammy specifically here you know we kind of said hey when this bear market crash first happened we saw collapse after collapse after collapse and we said there's a couple people they seem smart with their capital here you know sam bankman he's buying things up he's scooping things up cz he said you know i didn't buy any naming rights i'm hiring engineers so we we tend to throw sam and cz in the same conversation here but fdx did a 10-year 210 million dollar sponsorship for the naming rights with tsm does that fit in line with pr you know prudent financial moves there i mean what are your thoughts when you hear something like that and we still are lauding him and his sound decisions was it a sound decision to pay 21 million a year for 10 years for the naming rights of that hey if there's any extra capital around we'll rename our channel ftx is altcoin daily but uh you know as far as like where the money could be spent i mean number one where sam bankman freda likes to spend money is on politics with joe biden being the second biggest owner that's smart and then crypto companies in general uh you know sponsoring esports or sports in general i think it's one of the smarter fits both audiences male dominated both audiences tech savvy both audiences at least in esports and crypto digital items they get it and sports and crypto in general so tribal so if there's anybody who's going to get it it's going to be sports people who are going to be a little bit more accustomed to getting crypto and uh you know for all those reasons i mentioned so yeah i think it's i think it's pretty good daisy's hiding so i'm taking over oh he's back never mind thank you thank you i i dropped my controller there um dz we're doing a show dude well come on man i thought i thought you'd take that as a sign to hey maybe i got to fill the air for a little bit thanks for that i know it's leaving me hanging there no i'm not out of breath for all right i was praying candy crush so i don't know all right well uh you know tim tim first off are you a gamer uh real quick dc look at me yeah and and things you've said about me before do you think that i'm a gamer don't answer that i mean i'm looking at your beard so i say yes well because yeah the uh funny enough i have nothing in common with duck dynasty i've joked that i've gone for that duck dynasty slash dude perfect type of mix for my persona uh no i grew up just playing sports so well i had a quick question then because well that might help me here because you're gonna have an outsider's perspective and this is from an insider here the reason i ran i i wrote down a quote from the faze ceo and i i lost my last page there he's saying now he has a prediction web 3 10 years from now is going to make 80 of tsm's revenue so i'm sorry phases revenue 80 of their revenue in 10 years they say they're going to get it from web 3. what do you think of that perspective as an outsider is that possible you said how long what's the time frame 10 years from now 80 of their revenue is going to be web 3. doable moon math what do you think i i i think it's absolutely possible i think that we're about to see you know i was i was doing an interview uh with mark yusuko talking about the time frame of crypto in general he said you know in the beginning you know around 09 to around 11 12 there was a they kind of ignored the crypto space so the norm the mainstream media people whatever you want to call it they ignored crypto you know then about 2013 to about 2018 2019 or 2020 or so when we started to have a boom right at the end they kind of were laughing at crypto yeah crypto's here it's you know it's cool whatever you know that's that thing that that the nerds play with it's their little digital money thing we're moving into a phase where they're gonna start fighting it you know that's where we're getting all the regulation stuff but even even that like i there's so much momentum that happened in that ignoring and laughing stage that is carrying over and the the next generation is all about digital and web three while it has a long way to go i know charles hosk hasn't talked about this how we're still probably three to five years out from really seeing real momentum grow in the web3 space but when it hits it will take the world by storm and you can do that what you what you want with it whether it's good or bad those who have seen ready player one to me that's kind of a scary looking movie like oh my gosh that's where our population that's where our society is going but then you also have to come like all right realistic that's what people are moving on we're watching these kids the gaming world again i'm not a gamer but the gaming world that online world that digital world is growing more and more every single day the downside of it is we're losing human interaction the upside for crypto the upside for web3 is if that's what the generation that we're that's coming up right now is already engaging with the most web 3 is going to take the world by storm and that's why i asked about 10 years so i think it could take you know another five six years before we really see the real uptick in use cases but 10 years from now absolutely it might be higher than 80 yeah okay good point there and you know it kind of reminds me of what is happening in the space today and wendy i think you'll have some hot takes on this some of the top streamers including the number one streamer xqc you see them playing and promoting stakes.com which is a gambling site you're spending slots and you're spending bitcoin so you know when we think of web 3 and gaming traditionally we're thinking play to earn axey infinity but some people are saying no esports is just going to serve as a bridge to web3 whether it's you know betting on your team or you know buying items for a game what do you think of that i mean is that going to be the trojan horse to get gamers into crypto is it going to be you know gambling sites you know putting up a little bitcoin in your fortnight match or is it going to be you know an axi infinity in the future and just it is that top tier one game that everyone has to play what do you see as serving uh you know the most normal mainstream people into this crypto space that we just can't get enough of so unfortunately um bitcoin maximalists wouldn't like that idea they don't like the idea of doing anything with bitcoin besides buying it and holding it until forever for the for the rest of the world until that um but anyways when it comes to web3 metaverse you know play to earn like esports all of this coming together it's all going to come together it's all going to work out it's all going to play out i don't know what the catalyst is going to be though because i feel like every bull market everybody gets super excited there's all these great ideas that are pushed out most of them fail because most of the stuff is still in production it's still in beta and then we get the bear market and that's when all the real building and the fun stuff starts to happen that's when all the bugs get removed people can actually say okay this didn't work well so i'm going to create this i do feel very confident that you know all of the game that all the gaming the nfts the metaverse stuff is going to be really really big the next bull run but at the same time i think that we're going to have to kind of be a little bit more careful as to what you know what we put our money into this time and as far as the esports go like we talked about this on on queendesk the hash but we were taught one of the guys was like what if there was a dow for for our what is that football that people play the fan oh the fantasy football or the fantasy sports what if there was a doubt to go ahead and initiate your fantasy football your fantasy baseball or whatever it is like that actually sounded like a great idea and then as far as esports go it's all gonna come people are gonna eventually switch over when it's more convenient and it's built out and it makes sense for them anytime you have to put additional effort into doing something else nobody is interested in doing it okay and uh just to be clear you are okay with gambling bitcoin away on the slots i'm okay with i'm okay with people doing whatever they want to do i love their ass i love it i was hoping you'd say no so i could say aha you are a bitcoin maxie but you didn't take the bait wendy congrats good job there gold star all right well it looks like that's all we got time for today and it looks like ben armstrong narrowly edged out tim altcoin i sandbagged him since he left me hanging there it would have been you buddy but i was going to come in and just give you a whole bunch of points uh but ben feel free leave us with some parting thoughts yeah guys just remember uh your crypto is safe if you have the private keys but if you have the private keys and there's a vulnerability or an exploit that they can get to a wallet they can still get underneath it that's what we've learned with this phantom wallet hack make sure you're being safe out there grab yourself a cold storage wallet we've got some ledger links down the description probably i would say that's a good move if you don't know how to use one you need to it's never been more obvious and pivotal yeah i even heard a rumor there's going to be a video coming out maybe this weekend who knows but as billy the goat says make sure you're sticking around frankie's gonna be live in about five minutes so uh you're gonna want to tune in for that and until next time bid squad easy out you.
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