Welcome to BitBoy Crypto!
I have big news for you, guys.
My name is Ben.
I actually got--
Hawks asked me to play tonight.
As you guys can see, I'm out here in my jersey.
Fresh off of-- you guys follow me on Twitter.
And you guys got to see my nipples several times this week.
So I did that for you, guys.
Remember,
eyes up here.
Guys, I want to talk to you about memecoins for just a moment.
Like, here's the thing.
I want to get your opinion,
I want to get the BitSquad's opinion on how we should be handling this,
you know, coming into this next market.
And I'm going to tell you guys some things that I think is happening
and you guys can respond to it,
but just know, as a community, we're going to make these decisions together
on the best way to go about this.
You know, in the last market,
the long and the short of it is that
I believe that while Dogecoin has always done pretty well,
we saw a rise in memecoins like Shiba Inu,
and, you know, some other-- all the--
all the Elon, you know, ElonDoge or ElonMars or whatever,
I don't even know what they were, right?
Then you have other ones that are quite dangerous like SafeMoon
that had bugs inside the code that were malicious.
So all memecoins are not created equally,
but they're all created for nothing.
Like, they're not created to have some kind of great utility.
And, you know, people have been very early--
people were very early into Bitcoin.
I was early in Bitcoin, 2012.
People have--
at this point now,
Cardano was launched in 2017, right?
Ethereum was launched in 2015.
And all of these are the next generation of important coins to our ecosystem
that people are coming in now feel like they missed.
If they look at the price of XRP,
the price of XRP versus why it didn't even meet a new all-time high,
it's around 50¢ or so, I have no idea where it is today,
and they see that at one point, it was worth fractions of a penny
similar to, you know, like the cost of Shiba,
not that bad, but, you know,
are they going to feel like they're too late to these major coins?
And here's the epiphany that I've had.
You know, I've been playing around with some memecoins.
I've been basically getting involved in some conversations on Twitter.
I've been talking to more people are kind of in the NFT, you know, memecoin community
because there seems to be some overlap there.
And the fact is, what I've come to understand is they're different people.
It's not crypto people.
The people that are getting into memecoins,
they're doing it because it's a casino.
I'll tell you a good gambling story at the end of this video.
I don't want flex on y'all, but--
you guys know Stake is a sponsor.
We love Stake by the way.
I'm going to tell a Stake story here in a little bit.
And it's a good one.
It's the most money I've ever won gambling for sure.
But the long and short of it is that the memecoin community
and, to some degree, the NFT community,
their goals are different than yours and mine
because if you're watching this channel
and you're not here because you just happen to see I was going to talk about a memecoin,
you understand what we're about.
We're about education.
We're about utility.
We're about changing the world.
Memecoins are not going to change the world,
but they have proven that they can change someone's world
if they get in early enough and get out at the right time.
See, that's--
that's the key.
That's the key.
So the point is, is that when it comes to these memecoins as different community,
the education when it comes to memecoins is not on what these coins can do.
It's the people not necessarily behind the coins but the people in the communities.
When it comes memecoins,
the community kind of is the story.
They're just looking to treat crypto like a casino.
You guys know we started our new crypto--
it's hard not to watch over there.
It's getting kind of crazy over there.
Yeah.
I don't want to get involved, but I will.
He's just yelling.
He's fine. I think he's harmless.
I think.
Wow! Look at this.
You know, I don't think he's going to hit his kid or anything.
But the point is, is that they're just looking to gamble.
They're looking to make gains.
They're not looking for coins that's going to change the world.
They're looking to get the first exposure to something that's going to go up in value.
Now, here's what you have to understand about these memecoins.
They're all going to go to zero.
Now, it's simply a game of when can you get out?
We did our crypto casino portfolio where we've added HEX,
which isn't really a memecoin, but, you know, I kind of,
you know.
It moved like a memecoin last time,
the last market, so we'll see what happens.
But we added Shiba and we added Dogecoin
not because we feel like they have any value.
This is really research for the channel
to see how these react in this market.
About the time I made that video, I had this epiphany.
Memecoins are not going anywhere.
They're here to stay.
They're going to keep pumping out new versions of these coins.
And at the end of the day--
it's getting serious over there.
And at the end of the day,
people are going to just look for things to find value and to watch them go up.
So for me to be able to educate my audience the right way
and hopefully be able to draw some of the people from the memecoin community
into the world of crypto,
they can do both if they would like to do both,
but that's really what we should be trying to do,
is pull these people over the same way that, you know, people came through,
you know, in the early days.
Feathercoin or Peercoin or PizzaCoin,
like, these aren't really doing anything.
Bitcoin forks, you can make the same argument about.
Not Bitcoin Cash, but a lot of the other ones.
Essentially, they were kind of memecoins before memecoins actually.
So what's going on here is that
there's now been a fundamental shift I believe in the crypto ecosystem.
It's adapt or die for people like me who create content.
We face a dilemma where the memecoins are going to become such a big story again
and people are going to make a lot of money with them
that if I don't talk about them and talk honestly and candidly about them,
then I might start to lose relevance.
I might start to lose relevance.
And I don't want that because I don't want there to be a large portion of people
that are basically crypto adjacent that aren't really in crypto.
Like, it's my job to be an evangelist and try to pull them all in.
That's what I want to do.
We're also going to put some skin in the game, though, right?
So we have this crypto casino portfolio.
A lot of you guys have reacted very favorably towards the crypto casino portfolio.
And
I thought about maybe every week, we could put money into memecoins,
just see what happens, but here's the thing.
If we do this, this is kind of what we're talking about internally,
if we do this,
what we would want to do is as soon as we could pull out our original investment,
we would just pull it out and then we would just leave it
because we don't want there ever be an impression
that we're talking about these things because it's benefiting us personally, right?
We get right through the market, yeah, eventually, we would sell them, eventually, right?
Maybe at the end of the bull market, whatever the case may be.
But I'm going to tell you what we're doing and when we're doing it
because the big problem is when people talk about stuff they don't tell you behind the scenes,
they're pulling out of these coins,
and you're left holding the bag.
The donkey, the donkey bag, for instance in this case.
So what that means is that
we've got to start now figuring out, how do we analyze these coins?
How do we separate the good ones from the bad ones?
And by good ones, I still mean ones that are going to go to zero,
but the ones that will catch the hype like a sail on a boat.
And remember, guys,
if you ever do start investing in memecoins,
which I'm sure some of you that's how a lot of you came in,
remember, it should be a small percentage of your portfolio.
This will be a small percentage of our portfolio that we're doing this with,
but we're doing it really for demonstrating what happens with these.
We need to start determining because what I don't want
is I don't want us to talk about a memecoin that might get some hype
and then, all of a sudden, the people rug, right?
So I'm going to spend a lot of time over the next few weeks
trying to really analyze which ones I feel like are super dangerous for us to even talk about,
even reference them existing and go from there.
So drop your comments below.
I want to know what you guys think about that.
Recently, I bought three different memecoins.
I bought-- now, I'm not saying this as shill.
If you've been following my Twitter, you've seen it.
GENSLR
It's Gensler without the E at the end.
Good Gensler
It's making fun of Gary Gensler, which I love,
and people are making money on it, which I love, off of his back.
Unregistered security, Gary!
No. 2 is Pepe, one that's came out of nowhere.
No. 3 is Wojak.
All three of these, I've been able to pull out my original investment
and double and triple my money afterwards.
Alright?
I did end up selling all of them at some point yesterday
because I just needed a little bit of liquidity
so I could go to Stake, our sponsor.
So we have a deal with Stake.
It's a good deal is what I'll say.
We do some sports betting.
Sports betting obviously--
but part of the money we're doing some sports betting with,
we won, I think we're up like $15K on sports betting this month.
But that money is part of our deal that comes in.
So I just want to be upfront about that.
But, man, it sure is fun betting on games, right?
But the fact is, is that
I personally,
not the company money, right?
Not the money that comes in from them,
I collateralized some of NFTs yesterday and sold some memecoins to get some liquidity
to try to win some money back that I lost on there.
I won $40K last week.
And then I won--
I won $40K last week.
And then I was down a lot.
I got all the way down to my last $1,200 I had on the site.
And I'm not telling you to go--
I'm not telling you to do this.
I'm just saying what I did.
I literally turned $1,200 of my own money collateralized from NFTs,
you can go track it, you guys can go look and see on NFTfi where I've done that,
I turned $1,200 into $380K in two hours playing some of the table games.
Highly unusual that we'll probably never have any--
I won $99,000 on one hand.
I won $33K on one hand when I was at about $10,000,
and what happened there?
How did that happen?
A misclick.
I sat something on my trackpad,
and it went--
and it was sending all the chips, all the 500 chips to the bonus,
and then my time ran out and I couldn't move it.
So I was stuck.
I had like $7,000 in one hand.
I was devastated.
I had four-of-a-kind.
So it was an absolute phenomenal run.
I won $99,000 on one hand last night.
So I was playing the maximum on these games.
One table was like $70.5K.
And once I've won all my money back,
I was playing with house money.
I was playing like a lot looser.
But I can see how people can get really out of control with that stuff.
Obviously, so make sure to be careful.
If you do want to check out Stake,
your results will not be like mine, I'm sure.
My results have never been like my results were.
And like I said, that was my own money.
That was not--
that was not from that deal, or anything like that.
So,
I might have been in trouble if I lost.
I might have been in trouble.
TJ may have--
TJ may have fired me.
I don't know exactly what would have happened there.
But you know what?
I did make it happen.
And I actually ended up cashing out I think, like, $230K or $240K.
And you know what I do with that money?
I bought a Bored Ape.
Because at one point, I had collateralized our Bored Ape with the bunny ears,
and I just didn't like it that much.
I like the Mutant Ape with the bunny ears.
I didn't like that one.
And while I had it collateralized at floor price dip below the loan value,
and so I said I'm going to get a new one.
So I got a new one that's got--
looks like he works at McDonald's,
which I love because we're all going to have to work at McDonald's if crypto goes to zero
and you lose all your money in memecoins.
But I guess they're not hiring, right?
You've got to be a robot.
Well, my McDonald's Bored Ape is a robot in fact.
So I'll show that to you guys.
I put it on Twitter. You guys can go check that out.
It's pretty cool. I'm a big fan of it.
I bought-- I re-bought all my memecoins.
I bought more. So I put like--
I think I put $8K each?
Like, four ETH.
Four to five ETH into all three of those coins again
to reclaim my--
reclaim my gains.
And Gary Gensler, he owes me big time.
He's on Twitter. He's been begging me to talk about that coin.
But, guys, it's not financial advice.
I'm still very skeptical about what's going on with all these memcoins.
I'm skeptical about talking with them,
talking about them.
I want to be careful about it.
I want to be respectful.
I want to be careful.
I don't want people to get the wrong idea.
And I think that it's just something we can't really avoid at this point.
So let me know what your thoughts are down below.
Drop those comments.
Love to hear which ones you guys are in.
And let's see if we figure out a plan for this market
because they're here to stay, I'm telling you.
These ones are not here to stay.
These three coins I mentioned,
three years from now, they'll all be at zero.
But can you get out at the right time?
It certainly is a highly speculative, dangerous gambling game sometimes.
But there are people that like that,
and there are people that don't.
So speaking of gambling,
let's go see what happens with the Hawks game.
Go, Hawks!
Peace up!
A time down.
That looked like I was--
okay.
See you.