So, hey, maxis,
when you come rolling, you better come rolling deep.
And, guys, I bought this jacket specifically to be a meme to the maxis.
So that's literally why I bought.
If you think that that's sick, you should see the shoes.
Well, hold on.
Look at this golden shoes, man.
Look at the golden shoes.
That's right. It's not a black swan. It's not a white swan.
That's the golden goose.
Do you believe, and I want to get TJ's input on this as well,
that this is playing out literally just like the bear market?
That that's where we're heading to
and that we are literally going to hover in this area for a good long while?
Yeah, so we were talking about this yesterday.
You know, after we got this big move up,
I was talking, I think it was to TJ, I was like,
"You know, I feel like we never got that boring part of the bear market."
Right? We had a little bit of sideways action after we hit the bottom,
but it wasn't that long, and, you know, I kind of feel like
that is half of the pain, right?
Half of the pain is way down.
And then the rest of the pain is that boring sideways action,
which, for me, you know, kills me even more than the movements to the downside.
And I feel like we haven't had that yet.
I was actually--
like, is that what you feel?
You think we're entering that kind of sideways ranging phase?
Yeah, you know, I had a lot of hope that we weren't going to
just because like the interest is still there,
but what we're seeing is the interest still being there in crypto,
it--
now, of course, it wasn't what it was in the bull market, right?
But our numbers are not down like massively significant
over what they were towards, you know, like the very end phase
of what we thought was the bull run, right?
It was already a bear market,
but we thought it was still maybe a bull market for a while,
and, you know, numbers are dropping and that's okay.
But the attention is still there.
There's more people than ever looking at crypto.
How--
we got the macroeconomic stuff, but it just doesn't translate to volume.
Yeah, well, you know, one of the things I was thinking about
that may make this cycle a little bit different is, obviously, we're in a different situation, right?
Like, you have the banks going down, and that's kind of, you know, for me,
I do tend to lean just a little bit bearish.
Almost just naturally.
I feel like this bear market turned me into a perma bear.
And, you know, I kind of had to fight that a little bit
because, you know, with the banks going down and stuff like that,
this is just some kind of like black swan, you know,
this opens up a whole new, you know, area of black swan events that can happen,
or, I guess, would you call it a white swan or a black swan
if it's a pot--
- White swans are common, you see. - Right. Yeah, that's how I would--
Do you what we call this? Swans.
But, yeah, it opens up the door for these positive black swan events.
And I think if we are going to see this bear market play out completely differently,
something like that has got to happen,
where, you know, we get a complete collapse of the banking system,
and that's where Bitcoin comes in to shine.
But I do think, you know, like,
- I go with the cycle until it's broken, right? - Yeah.
I mean, it would be horrible to look back and see it play out exactly, you know.
You think it was going to play out differently, and you look back and you're like,
"It just played out like the last time. Why didn't I just stick to the plan?"
It's really interesting, like, speaking to someone that doesn't know anything about crypto.
Now, you know, she said she would get my book.
Nice lady. Her name is Ann.
You know, it's very interesting listening to these perspectives
when people just don't really grasp the crypto markets unless you're in it,
and when you look at stuff like this,
that the price of the world's largest cryptocurrency soared about 22,000% in the past decade,
you know, currently trading at around $26,750,
60% below its peak.
Like, those are the things that people pick up when they watch news shows
or finance shows when they're not in crypto.
They just hear, like,
either it's up to 22,000%,
or they hear it's down 60% from the peak.
And they don't take the time to really understand these four-year cycles and the way they work.
Like, people will say, like, "Oh, like, isn't Bitcoin down a lot right now?"
I'm like, "Yes, it's supposed to be. It's always supposed to be down this year."
Okay, so here's this post I did last week.
It's so funny because everybody said I don't know how to use MetaMask, which is hilarious.
I've used MetaMask probably more than, you know, anybody you know.
I've been around since the very beginning of Metamask.
"They sent me a hat for being their No. 1 user.
Thanks, MetaMask."
It's my new Gucci jacket.
I like that one.
Guys, that was obviously a joke.
- And then this guy, - No, he didn't.
spencecoin, you're not cool, man.
Like I'm sorry, bro. You're just-- you're not cool.
You're marketing ConsenSys and MetaMask.
I don't get it.
You love cooking and eating food.
Who doesn't like eating food?
You die if you didn't. Like, you know, obviously, everybody's got to eat.
But you know what? You're just cooking up FUD here.
He says, "No, we didn't."
This guy is the--
what is he?
Marketing at ConsenSys and MetaMask.
And he literally says, "No, we didn't."
And I said, "Why are you like this?"
Why are you like this?
Did he respond?
No, he did not respond.
Guys,
the fact that people cannot figure out what's a joke and what's not
based on the culture of Twitter is hilarious to me.
Now, Tesla updates AI-trained robot army, takes new bots for a walk.
So there we go.
Tesla has released new footage showing its Tesla Bots,
which now appear capable of walking steadily, picking up items and recognizing objects.
Tesla CEO Elon Musk presented the video at the company's shareholder meeting event.
Now, I don't know if you guys know this,
but the Dodge Demon is going to be faster than the Tesla.
I want everybody to know that.
1.6 seconds for zero to 60.
Tesla? 1.9.
So it's going to be one-point-bye-bye when I go past you.
You know how long I've been waiting to stick it to those Tesla drivers?
- Yeah? - Long time.
Now, none of them have ever challenged me directly.
They've never came up next to me and just, you know, tried to punch it off the red light.
- I don't think people that drive Tesla are generally the people-- yeah. - I was just about to say that same thing.
I don't-- I've seen a lot of people that own Teslas, and none of them look like the kind of people
that pull up next to somebody and start revving the engine
and say, "Hey, let's go!"
Newer people to this market,
which is the vast majority of you all, if we're honest, okay?
You weren't around when Litecoin was launched.
You weren't around.
You know, the comment was made to me, "There are no Litecoin maximalists."
There were.
There were Litecoin maximalists.
Back in 2017,
it was a faster version of Bitcoin.
Like, that was the message they were pushing.
SatoshiLite, you know, that even went by SatoshiLite, obviously.
- What's his name? Lee? - Charlie Lee.
Charlie Lee, right.
- We all know him as "I sold the top." Right? - Yeah.
- Nailed it. - Nailed it.
And that was kind of the beginning of the death of Litecoin, in my opinion.
This is slow, slow, slow death.
It still is around.
But what I want to show you guys is you have to understand,
when Litecoin came in on the scene,
people thought that this had a chance, very small community at first,
thought this had a chance to really compete with Bitcoin
because Bitcoin was slow
and so Litecoin offered something faster and a little more freedom
to, you know, do upgrades and things like that.
So, of course, now, we know it kind of the "silver" to Bitcoin's digital gold, I guess you will,
but we don't need a silver,
but, you know, if you just are coming to the market now or the last two years
and you see PayPal listing Litecoin and you see Litecoin on Coinbase,
one of the first coins,
you see Litecoin in a lot of different places with Ethereum and Bitcoin,
and you're like, "What is the deal? Why is it there with them?"
Well, it's there with them because it was one of the first established
it was the best performing altcoin, consistently in the top 10,
you know, ever since it was launched.
It's only recently fell a little bit out of the limelight over the last couple of years.
And so there's something really interesting though.
If you're just coming into this market
and you're looking at Litecoin as a possible investment--
alright, so you look at the price.
The price here was around $375.
Look at this double top.
I mean, if you were to look at this,
this is like so textbook.
Let's see here.
Lines, where can I get the lines?
I can't remember anymore.
Okay.
I cannot remember how to draw lines on here, guys.
It has been this long since I've done it.
Where's the line tool?
Where's Frank when you need him?
Are these lines?
There we go.
Okay, found it, guys.
Okay. Look at this double top.
It's not exact.
It basically had a wick over here that went slightly above,
but I don't even know if it closed there.
Guys, we have this double top for Litecoin.
I don't think we're going to see a new all-time high for Litecoin.
This narrative that it's going to be a relevant coin in the bull run
because it's not going to be considered a security,
guess what?
That only works while the XRP case is ongoing.
Because after the XRP case,
if it's not considered a security,
like, could you imagine having a legitimate project out there and XRP gets a pass
and you're worried about your coin now?
You may be worried about your sale.
But what coin out there was thought more to be a security than XRP?
- Not many. - Like, that's the only one generally people would talk about, right?
- Back in 2017, 2018 being a security. - Yeah.
I mean, EOS used to get a little bit of chatter,
- you know, because they made so-- - Through their sale.
- they had such a huge sale. - Yeah.
but, yeah, I mean, but then I think they ended up settling and paying as well.
- So-- yeah. - $98 million, I believe.
For a $4 billion token sale.
So the point is,
Litecoin can just easily lose that narrative.
If XRP starts getting relisted,
and you start with the SEC start losing a couple of these cases,
Litecoin is not going to really have that advantage
because, yes, it's older and it was a more fair launch in a lot of other stuff,
but that's not going to be enough to get people excited about it.
So, anyways, we'll see what happens.
I think that Litecoin has probably seen its best days.
I've been back and forth on this.
And the reason is because of the fact
that it, you know, is not going to be considered a security.
But you can also look at the LBRY case and say, you know, that that's precedent
that almost nothing in crypto will be considered that outside the sale.
So, overall with Litecoin, what are they really, like,
what is the community doing?
Like, Tom Crown, what is the community doing in Litecoin?
It's you and like seven guys at this point.
But we're talking about VR headsets with the Apple supposedly
is rumored to be dropping an extremely high-end VR headset,
like a $3,000 headset.
- You know, hardware device-- - I bought it.
I got it. I got it right here.
I bought it this weekend, or this week as I'm going to the conference.
That's pretty good. Yeah.
- Exactly. Very comfortable. - Yeah.
- You know? And much-- - It's almost like--
- yeah. - it's almost like real life.
- You actually look like-- - I didn't see the microphone.
- What's the X-Men guy? - Was that the microphone? I don't even know.
- Cyclops? Yeah. - Yeah, Cyclops. Yeah.
- You hit it with just a-- yeah. - Okay.
Alright.
But, yeah, it's interesting if they start getting into VR in a big way
and now we're seeing them go more into the mobile gaming and all that sort of stuff.
It'll be very fascinating to see how this continues with Apple.
So glad to have this VR headset from Apple.
Definitely appreciate it.
From them. I did pay for it like a normal human does.
But I had to get it to cover up my Bitcoin maxi laser eyes.
- You don't want me to-- - You can't take it off till $100K.
I can't take it off till $100K. That's right, guys.