{"version":"1.0.0","segments":[{"speaker":"Matt Zahab","startTime":0.6,"endTime":2.79,"body":"This episode is"},{"speaker":"Matt Zahab","startTime":0.6,"endTime":2.79,"body":"brought to you by our dear"},{"speaker":"Matt Zahab","startTime":2.79,"endTime":6.57,"body":"friends at prime xbt. These guys"},{"speaker":"Matt Zahab","startTime":2.79,"endTime":6.57,"body":"have been partners of crypto"},{"speaker":"Matt Zahab","startTime":6.57,"endTime":9.39,"body":"news.com for years and we are"},{"speaker":"Matt Zahab","startTime":6.57,"endTime":9.39,"body":"always excited about the"},{"speaker":"Matt Zahab","startTime":9.39,"endTime":12.84,"body":"products they have to offer."},{"speaker":"Matt Zahab","startTime":9.39,"endTime":12.84,"body":"I've been using prime xbt for"},{"speaker":"Matt Zahab","startTime":12.84,"endTime":16.11,"body":"the last couple of months and I"},{"speaker":"Matt Zahab","startTime":12.84,"endTime":16.11,"body":"absolutely love it. prime xbt"},{"speaker":"Matt Zahab","startTime":16.71,"endTime":19.53,"body":"offers a robust trading system"},{"speaker":"Matt Zahab","startTime":16.71,"endTime":19.53,"body":"for both beginners and"},{"speaker":"Matt Zahab","startTime":19.53,"endTime":23.37,"body":"professional traders that demand"},{"speaker":"Matt Zahab","startTime":19.53,"endTime":23.37,"body":"highly reliable market data and"},{"speaker":"Matt Zahab","startTime":23.37,"endTime":26.67,"body":"performance. Traders of all"},{"speaker":"Matt Zahab","startTime":23.37,"endTime":26.67,"body":"experience levels can easily"},{"speaker":"Matt Zahab","startTime":26.67,"endTime":30.6,"body":"design and customize layouts and"},{"speaker":"Matt Zahab","startTime":26.67,"endTime":30.6,"body":"widgets to best fit their"},{"speaker":"Matt Zahab","startTime":30.6,"endTime":34.35,"body":"trading style. Prime xbt is"},{"speaker":"Matt Zahab","startTime":30.6,"endTime":34.35,"body":"always offering innovative"},{"speaker":"Matt Zahab","startTime":34.35,"endTime":37.35,"body":"products and professional"},{"speaker":"Matt Zahab","startTime":34.35,"endTime":37.35,"body":"trading conditions to all"},{"speaker":"Matt Zahab","startTime":37.56,"endTime":41.64,"body":"customers. Prime xbt is running"},{"speaker":"Matt Zahab","startTime":37.56,"endTime":41.64,"body":"an exclusive promotion for"},{"speaker":"Matt Zahab","startTime":41.64,"endTime":46.5,"body":"listeners of this podcast. After"},{"speaker":"Matt Zahab","startTime":41.64,"endTime":46.5,"body":"making your first deposit 50% of"},{"speaker":"Matt Zahab","startTime":46.5,"endTime":49.47,"body":"that first deposit will be"},{"speaker":"Matt Zahab","startTime":46.5,"endTime":49.47,"body":"credited to your account as a"},{"speaker":"Matt Zahab","startTime":49.47,"endTime":52.92,"body":"bonus that can be used as an"},{"speaker":"Matt Zahab","startTime":49.47,"endTime":52.92,"body":"additional collateral to open"},{"speaker":"Matt Zahab","startTime":52.95,"endTime":56.28,"body":"positions. This promotion is"},{"speaker":"Matt Zahab","startTime":52.95,"endTime":56.28,"body":"available for a month after"},{"speaker":"Matt Zahab","startTime":56.28,"endTime":59.55,"body":"activation and will be the boost"},{"speaker":"Matt Zahab","startTime":56.28,"endTime":59.55,"body":"you need to get the hang of"},{"speaker":"Matt Zahab","startTime":59.55,"endTime":64.59,"body":"trading quickly and efficiently."},{"speaker":"Matt Zahab","startTime":59.55,"endTime":64.59,"body":"Use promo code crypto news 50 to"},{"speaker":"Matt Zahab","startTime":64.59,"endTime":68.88,"body":"take advantage of this offer."},{"speaker":"Matt Zahab","startTime":64.59,"endTime":68.88,"body":"Again, that is crypto news five"},{"speaker":"Matt Zahab","startTime":68.88,"endTime":73.59,"body":"zero to receive 50% of your"},{"speaker":"Matt Zahab","startTime":68.88,"endTime":73.59,"body":"first deposit credited to your"},{"speaker":"Matt Zahab","startTime":73.59,"endTime":84.6,"body":"trading account. And now to"},{"speaker":"Matt Zahab","startTime":73.59,"endTime":84.6,"body":"show. Folks, this episode is the"},{"speaker":"Matt Zahab","startTime":84.6,"endTime":88.77,"body":"first ever dual guest episode on"},{"speaker":"Matt Zahab","startTime":84.6,"endTime":88.77,"body":"the crypto news podcast and I'm"},{"speaker":"Matt Zahab","startTime":88.77,"endTime":92.64,"body":"very fired up for this one. That"},{"speaker":"Matt Zahab","startTime":88.77,"endTime":92.64,"body":"means that this intro will be a"},{"speaker":"Matt Zahab","startTime":92.64,"endTime":95.46,"body":"little different than usual as"},{"speaker":"Matt Zahab","startTime":92.64,"endTime":95.46,"body":"we're introducing two guests"},{"speaker":"Matt Zahab","startTime":95.46,"endTime":98.25,"body":"instead of one. I can't go on my"},{"speaker":"Matt Zahab","startTime":95.46,"endTime":98.25,"body":"little spiel and intro the"},{"speaker":"Matt Zahab","startTime":98.25,"endTime":101.61,"body":"guests like I used to. However,"},{"speaker":"Matt Zahab","startTime":98.25,"endTime":101.61,"body":"today's guests are crypto"},{"speaker":"Matt Zahab","startTime":101.61,"endTime":107.64,"body":"veterans who are the CEO and CIO"},{"speaker":"Matt Zahab","startTime":101.61,"endTime":107.64,"body":"of Zerocap, Australia's only"},{"speaker":"Matt Zahab","startTime":107.67,"endTime":111.15,"body":"full service digital asset"},{"speaker":"Matt Zahab","startTime":107.67,"endTime":111.15,"body":"investment platform. From tradin"},{"speaker":"Matt Zahab","startTime":111.15,"endTime":114.99,"body":"to insured custody yield an"},{"speaker":"Matt Zahab","startTime":111.15,"endTime":114.99,"body":"fund management. You name it"},{"speaker":"Matt Zahab","startTime":115.29,"endTime":118.86,"body":"they offer it. I'm very please"},{"speaker":"Matt Zahab","startTime":115.29,"endTime":118.86,"body":"to welcome to the crypto new"},{"speaker":"Matt Zahab","startTime":118.86,"endTime":122.79,"body":"podcast Ryan McCall and John d"},{"speaker":"Matt Zahab","startTime":118.86,"endTime":122.79,"body":"Wet. Fellas, welcome to th"},{"speaker":"Matt Zahab","startTime":122.79,"endTime":123.03,"body":"show"},{"speaker":"Ryan McCall","startTime":123.0,"endTime":124.05,"body":"Hey Matt, how's it"},{"speaker":"Ryan McCall","startTime":123.0,"endTime":124.05,"body":"going?"},{"speaker":"Jon de Wet","startTime":124.05,"endTime":125.94,"body":"Thanks, Matt. Good"},{"speaker":"Jon de Wet","startTime":124.05,"endTime":125.94,"body":"to be here man."},{"speaker":"Matt Zahab","startTime":125.97,"endTime":128.49,"body":"Great to have you"},{"speaker":"Matt Zahab","startTime":125.97,"endTime":128.49,"body":"guys on, please do bear with me"},{"speaker":"Matt Zahab","startTime":128.49,"endTime":132.96,"body":"here we haven't done the one"},{"speaker":"Matt Zahab","startTime":128.49,"endTime":132.96,"body":"host and two guests yet so I'm"},{"speaker":"Matt Zahab","startTime":132.96,"endTime":136.35,"body":"going to try not to single"},{"speaker":"Matt Zahab","startTime":132.96,"endTime":136.35,"body":"either of you out and I will"},{"speaker":"Matt Zahab","startTime":136.35,"endTime":140.16,"body":"more so just ask questions and"},{"speaker":"Matt Zahab","startTime":136.35,"endTime":140.16,"body":"help with the flow the convo and"},{"speaker":"Matt Zahab","startTime":140.16,"endTime":144.36,"body":"I will let you two choose who"},{"speaker":"Matt Zahab","startTime":140.16,"endTime":144.36,"body":"goes to what but I do have to"},{"speaker":"Matt Zahab","startTime":144.36,"endTime":148.41,"body":"ask to get a kick in. Australia"},{"speaker":"Matt Zahab","startTime":144.36,"endTime":148.41,"body":"what's that like right now?"},{"speaker":"Matt Zahab","startTime":148.41,"endTime":151.41,"body":"Still never been. On the bucket"},{"speaker":"Matt Zahab","startTime":148.41,"endTime":151.41,"body":"list. Have you guys recovered"},{"speaker":"Matt Zahab","startTime":151.41,"endTime":152.82,"body":"from COVID? How's everything"},{"speaker":"Matt Zahab","startTime":151.41,"endTime":152.82,"body":"look in there?"},{"speaker":"Ryan McCall","startTime":152.85,"endTime":154.8,"body":"Yeah, look, it's"},{"speaker":"Ryan McCall","startTime":152.85,"endTime":154.8,"body":"not so bad at the moment."},{"speaker":"Ryan McCall","startTime":154.8,"endTime":158.49,"body":"Really. You know, looking out"},{"speaker":"Ryan McCall","startTime":154.8,"endTime":158.49,"body":"the window here. In Melbourne."},{"speaker":"Ryan McCall","startTime":158.52,"endTime":161.7,"body":"It is cold and raining. So I"},{"speaker":"Ryan McCall","startTime":158.52,"endTime":161.7,"body":"guess that's not great. But you"},{"speaker":"Ryan McCall","startTime":161.7,"endTime":166.23,"body":"don't get to COVID things are"},{"speaker":"Ryan McCall","startTime":161.7,"endTime":166.23,"body":"more or less, you know, back to"},{"speaker":"Ryan McCall","startTime":166.23,"endTime":170.55,"body":"normal. Where we are is a bit"},{"speaker":"Ryan McCall","startTime":166.23,"endTime":170.55,"body":"straight with lockdowns and"},{"speaker":"Ryan McCall","startTime":170.55,"endTime":173.55,"body":"whatnot. But it doesn't seem to"},{"speaker":"Ryan McCall","startTime":170.55,"endTime":173.55,"body":"bother people too much."},{"speaker":"Jon de Wet","startTime":173.64,"endTime":175.71,"body":"So good. Matt, the"},{"speaker":"Jon de Wet","startTime":173.64,"endTime":175.71,"body":"good thing is all the"},{"speaker":"Jon de Wet","startTime":175.71,"endTime":179.34,"body":"restaurants and bars have been"},{"speaker":"Jon de Wet","startTime":175.71,"endTime":179.34,"body":"opening up. So we've managed to"},{"speaker":"Jon de Wet","startTime":179.34,"endTime":183.33,"body":"get out and celebrate a few"},{"speaker":"Jon de Wet","startTime":179.34,"endTime":183.33,"body":"milestones in the business,"},{"speaker":"Jon de Wet","startTime":183.54,"endTime":184.83,"body":"which has been huge."},{"speaker":"Matt Zahab","startTime":185.49,"endTime":188.46,"body":"And you get to build"},{"speaker":"Matt Zahab","startTime":185.49,"endTime":188.46,"body":"some of that employee morale and"},{"speaker":"Matt Zahab","startTime":188.46,"endTime":191.31,"body":"you know, some team building and"},{"speaker":"Matt Zahab","startTime":188.46,"endTime":191.31,"body":"teamwork. People actually can"},{"speaker":"Matt Zahab","startTime":191.31,"endTime":193.71,"body":"put a face to the name instead"},{"speaker":"Matt Zahab","startTime":191.31,"endTime":193.71,"body":"of the crazy zoom calls."},{"speaker":"Ryan McCall","startTime":193.83,"endTime":197.16,"body":"It's definitely"},{"speaker":"Ryan McCall","startTime":193.83,"endTime":197.16,"body":"been a little frustrating. In"},{"speaker":"Ryan McCall","startTime":197.16,"endTime":199.95,"body":"the last couple of weeks,"},{"speaker":"Ryan McCall","startTime":197.16,"endTime":199.95,"body":"actually, we just moved into a"},{"speaker":"Ryan McCall","startTime":199.95,"endTime":204.18,"body":"bigger office. But we had a bit"},{"speaker":"Ryan McCall","startTime":199.95,"endTime":204.18,"body":"of a snap lockdown and couldn't"},{"speaker":"Ryan McCall","startTime":204.21,"endTime":208.08,"body":"move in. So that sort of rain on"},{"speaker":"Ryan McCall","startTime":204.21,"endTime":208.08,"body":"the parade a little bit. But"},{"speaker":"Ryan McCall","startTime":208.53,"endTime":210.84,"body":"we're back in now and getting"},{"speaker":"Ryan McCall","startTime":208.53,"endTime":210.84,"body":"the team together, which is"},{"speaker":"Ryan McCall","startTime":210.84,"endTime":211.23,"body":"great."},{"speaker":"Jon de Wet","startTime":211.71,"endTime":214.56,"body":"Mate it sounds like"},{"speaker":"Jon de Wet","startTime":211.71,"endTime":214.56,"body":"signs of a bizarre time. One of"},{"speaker":"Jon de Wet","startTime":214.56,"endTime":217.68,"body":"our staff members from here"},{"speaker":"Jon de Wet","startTime":214.56,"endTime":217.68,"body":"Nolan, we didn't meet him for"},{"speaker":"Jon de Wet","startTime":217.68,"endTime":220.86,"body":"the first six months last year"},{"speaker":"Jon de Wet","startTime":217.68,"endTime":220.86,"body":"because of COVID."},{"speaker":"Matt Zahab","startTime":220.89,"endTime":221.7,"body":"Holy crap."},{"speaker":"Jon de Wet","startTime":221.73,"endTime":227.34,"body":"Yeah. But you got to"},{"speaker":"Jon de Wet","startTime":221.73,"endTime":227.34,"body":"adapt and now we've managed."},{"speaker":"Matt Zahab","startTime":227.39,"endTime":230.27,"body":"100% Well, here we"},{"speaker":"Matt Zahab","startTime":227.39,"endTime":230.27,"body":"are. I'd love to be doing the"},{"speaker":"Matt Zahab","startTime":230.3,"endTime":232.94,"body":"worldwide circuit and being in"},{"speaker":"Matt Zahab","startTime":230.3,"endTime":232.94,"body":"Melbourne right now and"},{"speaker":"Matt Zahab","startTime":232.94,"endTime":235.91,"body":"interviewing you guys face to"},{"speaker":"Matt Zahab","startTime":232.94,"endTime":235.91,"body":"face with a couple pops. I know"},{"speaker":"Matt Zahab","startTime":235.91,"endTime":239.27,"body":"for me, it's nighttime for you"},{"speaker":"Matt Zahab","startTime":235.91,"endTime":239.27,"body":"fellas. It's mornings, I have a"},{"speaker":"Matt Zahab","startTime":239.27,"endTime":241.91,"body":"old fashioned in front of me and"},{"speaker":"Matt Zahab","startTime":239.27,"endTime":241.91,"body":"you probably have a couple of"},{"speaker":"Matt Zahab","startTime":241.91,"endTime":245.9,"body":"coffees or a couple teas. So its"},{"speaker":"Matt Zahab","startTime":241.91,"endTime":245.9,"body":"crazy how the world works. I'm"},{"speaker":"sitting here at 6","startTime":245.9,"endTime":249.32,"body":"13pm. And for"},{"speaker":"sitting here at 6","startTime":245.9,"endTime":249.32,"body":"you guys, it's you know what, 12"},{"speaker":"sitting here at 6","startTime":249.32,"endTime":253.34,"body":"hours ahead is just craziness."},{"speaker":"sitting here at 6","startTime":249.32,"endTime":253.34,"body":"So yeah. Anyways, I do want to"},{"speaker":"sitting here at 6","startTime":253.34,"endTime":257.75,"body":"start. I've only had one"},{"speaker":"sitting here at 6","startTime":253.34,"endTime":257.75,"body":"Australian on the pod. That was"},{"speaker":"sitting here at 6","startTime":257.75,"endTime":262.61,"body":"dcl blogger. He is an NF"},{"speaker":"sitting here at 6","startTime":257.75,"endTime":262.61,"body":"guru and a decentraland Guru as"},{"speaker":"sitting here at 6","startTime":262.64,"endTime":266.0,"body":"well. He's been the only Austra"},{"speaker":"sitting here at 6","startTime":262.64,"endTime":266.0,"body":"ian on the pod and I'd love to"},{"speaker":"sitting here at 6","startTime":266.0,"endTime":269.24,"body":"sk just to sort of kick it off."},{"speaker":"sitting here at 6","startTime":266.0,"endTime":269.24,"body":"Tell me about the crypto sla"},{"speaker":"sitting here at 6","startTime":269.24,"endTime":272.42,"body":"h blockchain scene in"},{"speaker":"sitting here at 6","startTime":269.24,"endTime":272.42,"body":"ustralia. What's that like?"},{"speaker":"Jon de Wet","startTime":273.12,"endTime":277.47,"body":"It's really healthy."},{"speaker":"Jon de Wet","startTime":273.12,"endTime":277.47,"body":"We've got a couple of different"},{"speaker":"Jon de Wet","startTime":278.43,"endTime":283.47,"body":"communities I guess both in non"},{"speaker":"Jon de Wet","startTime":278.43,"endTime":283.47,"body":"for profit and also for profit,"},{"speaker":"Jon de Wet","startTime":283.95,"endTime":287.85,"body":"that really keep the blockchain"},{"speaker":"Jon de Wet","startTime":283.95,"endTime":287.85,"body":"community fairly close. From an"},{"speaker":"Jon de Wet","startTime":287.85,"endTime":291.9,"body":"institutional level one of the"},{"speaker":"Jon de Wet","startTime":287.85,"endTime":291.9,"body":"banks are starting to look into"},{"speaker":"Jon de Wet","startTime":291.9,"endTime":294.45,"body":"different blockchain"},{"speaker":"Jon de Wet","startTime":291.9,"endTime":294.45,"body":"technologies. Back in I think it"},{"speaker":"Jon de Wet","startTime":294.45,"endTime":298.68,"body":"was 2016 2017 our big four banks"},{"speaker":"Jon de Wet","startTime":294.45,"endTime":298.68,"body":"out here started adopting hyper"},{"speaker":"Jon de Wet","startTime":298.68,"endTime":304.08,"body":"ledger and doing some testing."},{"speaker":"Jon de Wet","startTime":298.68,"endTime":304.08,"body":"So there seems to be a really"},{"speaker":"Jon de Wet","startTime":304.08,"endTime":308.88,"body":"innovative kind of blockchain"},{"speaker":"Jon de Wet","startTime":304.08,"endTime":308.88,"body":"community and seen out here,"},{"speaker":"Jon de Wet","startTime":309.51,"endTime":315.6,"body":"where it has lagged is kind of"},{"speaker":"Jon de Wet","startTime":309.51,"endTime":315.6,"body":"real and large scale adoption"},{"speaker":"Jon de Wet","startTime":315.63,"endTime":320.91,"body":"from the traditional space. So"},{"speaker":"Jon de Wet","startTime":315.63,"endTime":320.91,"body":"we're still in that wait and see"},{"speaker":"Jon de Wet","startTime":320.94,"endTime":325.47,"body":"nervous about banking, still"},{"speaker":"Jon de Wet","startTime":320.94,"endTime":325.47,"body":"trying to fill out the AML laws"},{"speaker":"Jon de Wet","startTime":325.5,"endTime":328.86,"body":"for crypto businesses. And, you"},{"speaker":"Jon de Wet","startTime":325.5,"endTime":328.86,"body":"know, a large part of our"},{"speaker":"Jon de Wet","startTime":328.86,"endTime":334.02,"body":"business is trying to advocate"},{"speaker":"Jon de Wet","startTime":328.86,"endTime":334.02,"body":"and really get toward scale"},{"speaker":"Jon de Wet","startTime":334.05,"endTime":337.98,"body":"traditional adoption. And but in"},{"speaker":"Jon de Wet","startTime":334.05,"endTime":337.98,"body":"terms of the community, there's"},{"speaker":"Jon de Wet","startTime":337.98,"endTime":341.13,"body":"there's an amazing community out"},{"speaker":"Jon de Wet","startTime":337.98,"endTime":341.13,"body":"here that is fairly well funded"},{"speaker":"Jon de Wet","startTime":341.13,"endTime":345.33,"body":"and really gunning to compete"},{"speaker":"Jon de Wet","startTime":341.13,"endTime":345.33,"body":"with the likes of US blockchain"},{"speaker":"Jon de Wet","startTime":345.33,"endTime":348.33,"body":"firms and European blockchain"},{"speaker":"Jon de Wet","startTime":345.33,"endTime":348.33,"body":"firms."},{"speaker":"Matt Zahab","startTime":348.81,"endTime":352.26,"body":"I love that, that"},{"speaker":"Matt Zahab","startTime":348.81,"endTime":352.26,"body":"makes me happy. Whenever I hear"},{"speaker":"Matt Zahab","startTime":352.26,"endTime":354.12,"body":"the parts of the world are"},{"speaker":"Matt Zahab","startTime":352.26,"endTime":354.12,"body":"absolutely buzzing in the"},{"speaker":"Matt Zahab","startTime":354.12,"endTime":356.88,"body":"blockchain community that's"},{"speaker":"Matt Zahab","startTime":354.12,"endTime":356.88,"body":"always good. And that is much"},{"speaker":"Matt Zahab","startTime":356.88,"endTime":360.36,"body":"needed for mass adoption. But he"},{"speaker":"Matt Zahab","startTime":356.88,"endTime":360.36,"body":"also talked about that latency"},{"speaker":"Matt Zahab","startTime":360.36,"endTime":364.38,"body":"period where a lot of people and"},{"speaker":"Matt Zahab","startTime":360.36,"endTime":364.38,"body":"moreso institutions perhaps are"},{"speaker":"Matt Zahab","startTime":364.41,"endTime":368.88,"body":"very, you know, cautious in"},{"speaker":"Matt Zahab","startTime":364.41,"endTime":368.88,"body":"regards to getting into the"},{"speaker":"Matt Zahab","startTime":368.88,"endTime":372.27,"body":"blockchain and crypto space and"},{"speaker":"Matt Zahab","startTime":368.88,"endTime":372.27,"body":"sort of more specifically"},{"speaker":"Matt Zahab","startTime":372.3,"endTime":375.54,"body":"Bitcoin. That's where Zerocap"},{"speaker":"Matt Zahab","startTime":372.3,"endTime":375.54,"body":"comes in, you guys offer a"},{"speaker":"Matt Zahab","startTime":375.54,"endTime":380.52,"body":"myriad of products that are"},{"speaker":"Matt Zahab","startTime":375.54,"endTime":380.52,"body":"mostly faced and mostly for"},{"speaker":"Matt Zahab","startTime":380.52,"endTime":384.15,"body":"institutional investors. So"},{"speaker":"Matt Zahab","startTime":380.52,"endTime":384.15,"body":"let's just roleplay here for a"},{"speaker":"Matt Zahab","startTime":384.15,"endTime":388.92,"body":"second. Let's say I'm some big"},{"speaker":"Matt Zahab","startTime":384.15,"endTime":388.92,"body":"do double G, I'm some big Dawg"},{"speaker":"Matt Zahab","startTime":388.95,"endTime":394.83,"body":"and I have a massive fund. And"},{"speaker":"Matt Zahab","startTime":388.95,"endTime":394.83,"body":"I'm only doing the classic"},{"speaker":"Matt Zahab","startTime":395.28,"endTime":398.31,"body":"investing. I'm not dabbling into"},{"speaker":"Matt Zahab","startTime":395.28,"endTime":398.31,"body":"any crypto, any blockchain,"},{"speaker":"Matt Zahab","startTime":398.31,"endTime":402.24,"body":"nothing like that. Super"},{"speaker":"Matt Zahab","startTime":398.31,"endTime":402.24,"body":"classic, super traditional. And"},{"speaker":"Matt Zahab","startTime":402.24,"endTime":405.03,"body":"I'm in an elevator with you to"},{"speaker":"Matt Zahab","startTime":402.24,"endTime":405.03,"body":"lads, and you have 30 seconds,"},{"speaker":"Matt Zahab","startTime":405.06,"endTime":408.09,"body":"we're on floor uno, we're going"},{"speaker":"Matt Zahab","startTime":405.06,"endTime":408.09,"body":"to floor I don't know 30 40 we"},{"speaker":"Matt Zahab","startTime":408.09,"endTime":410.67,"body":"have a 30 second pitch and I'm"},{"speaker":"Matt Zahab","startTime":408.09,"endTime":410.67,"body":"like, Hey, you toward the"},{"speaker":"Matt Zahab","startTime":410.67,"endTime":414.18,"body":"zerocap lads. Why should I get"},{"speaker":"Matt Zahab","startTime":410.67,"endTime":414.18,"body":"into crypto and how can you help"},{"speaker":"Matt Zahab","startTime":414.18,"endTime":415.38,"body":"me? What would that pitch look"},{"speaker":"Matt Zahab","startTime":414.18,"endTime":415.38,"body":"like?"},{"speaker":"Jon de Wet","startTime":415.5,"endTime":418.83,"body":"Here's the pitch."},{"speaker":"Jon de Wet","startTime":415.5,"endTime":418.83,"body":"Right? By investing in"},{"speaker":"Jon de Wet","startTime":418.83,"endTime":421.98,"body":"cryptocurrency, you essentially"},{"speaker":"Jon de Wet","startTime":418.83,"endTime":421.98,"body":"get leverage without leverage,"},{"speaker":"Jon de Wet","startTime":421.98,"endTime":425.55,"body":"right? So you can choose how"},{"speaker":"Jon de Wet","startTime":421.98,"endTime":425.55,"body":"much you position size and"},{"speaker":"Jon de Wet","startTime":425.67,"endTime":428.91,"body":"basically gain volatility in a"},{"speaker":"Jon de Wet","startTime":425.67,"endTime":428.91,"body":"portfolio that you wouldn't be"},{"speaker":"Jon de Wet","startTime":428.91,"endTime":432.48,"body":"able to gain without leverage in"},{"speaker":"Jon de Wet","startTime":428.91,"endTime":432.48,"body":"other asset classes. Why would"},{"speaker":"Jon de Wet","startTime":432.48,"endTime":435.81,"body":"you invest with us would be the"},{"speaker":"Jon de Wet","startTime":432.48,"endTime":435.81,"body":"pitch in the elevator because"},{"speaker":"Jon de Wet","startTime":435.81,"endTime":439.08,"body":"that's what we're gunning for."},{"speaker":"Jon de Wet","startTime":435.81,"endTime":439.08,"body":"Right? Well, most funds don't"},{"speaker":"Jon de Wet","startTime":439.08,"endTime":442.17,"body":"have a mandate to invest"},{"speaker":"Jon de Wet","startTime":439.08,"endTime":442.17,"body":"directly in crypto. So we have a"},{"speaker":"Jon de Wet","startTime":442.2,"endTime":445.5,"body":"fully regulated unit trusts"},{"speaker":"Jon de Wet","startTime":442.2,"endTime":445.5,"body":"where they can purchase units"},{"speaker":"Jon de Wet","startTime":445.5,"endTime":449.64,"body":"and actually get exposure to"},{"speaker":"Jon de Wet","startTime":445.5,"endTime":449.64,"body":"underlying cryptocurrency. So we"},{"speaker":"Jon de Wet","startTime":449.64,"endTime":453.21,"body":"like to see ourselves as a"},{"speaker":"Jon de Wet","startTime":449.64,"endTime":453.21,"body":"regulated access point. But more"},{"speaker":"Jon de Wet","startTime":453.21,"endTime":456.51,"body":"than that, you know, our thought"},{"speaker":"Jon de Wet","startTime":453.21,"endTime":456.51,"body":"leadership and ability to"},{"speaker":"Jon de Wet","startTime":456.93,"endTime":460.65,"body":"structure portfolios is really"},{"speaker":"Jon de Wet","startTime":456.93,"endTime":460.65,"body":"what a lot of our current"},{"speaker":"Jon de Wet","startTime":460.68,"endTime":463.92,"body":"investors, family offices,"},{"speaker":"Jon de Wet","startTime":460.68,"endTime":463.92,"body":"institutions most interested in."},{"speaker":"Matt Zahab","startTime":464.83,"endTime":467.53,"body":"Interesting. I'm"},{"speaker":"Matt Zahab","startTime":464.83,"endTime":467.53,"body":"very keen on the whole family"},{"speaker":"Matt Zahab","startTime":467.53,"endTime":469.78,"body":"office thing, because there's so"},{"speaker":"Matt Zahab","startTime":467.53,"endTime":469.78,"body":"much bloody money in family"},{"speaker":"Matt Zahab","startTime":469.78,"endTime":471.91,"body":"offices, and it seems like"},{"speaker":"Matt Zahab","startTime":469.78,"endTime":471.91,"body":"they're always going the"},{"speaker":"Matt Zahab","startTime":471.91,"endTime":475.63,"body":"traditional route and are very,"},{"speaker":"Matt Zahab","startTime":471.91,"endTime":475.63,"body":"very risk averse. Does that"},{"speaker":"Matt Zahab","startTime":475.63,"endTime":479.35,"body":"conversation differ from perhaps"},{"speaker":"Matt Zahab","startTime":475.63,"endTime":479.35,"body":"a hedge fund or a PE fund who"},{"speaker":"Matt Zahab","startTime":479.38,"endTime":482.35,"body":"might have, you know, a little"},{"speaker":"Matt Zahab","startTime":479.38,"endTime":482.35,"body":"more wiggle room to work with?"},{"speaker":"Matt Zahab","startTime":482.38,"endTime":484.81,"body":"Like, tell me what, what does"},{"speaker":"Matt Zahab","startTime":482.38,"endTime":484.81,"body":"that comvo look like?"},{"speaker":"Ryan McCall","startTime":484.98,"endTime":490.29,"body":"It's interesting,"},{"speaker":"Ryan McCall","startTime":484.98,"endTime":490.29,"body":"you know, part of our hypothesis"},{"speaker":"Ryan McCall","startTime":490.38,"endTime":494.04,"body":"in when we started the business"},{"speaker":"Ryan McCall","startTime":490.38,"endTime":494.04,"body":"was that crypto would eventually"},{"speaker":"Ryan McCall","startTime":494.04,"endTime":498.0,"body":"go the way of traditional"},{"speaker":"Ryan McCall","startTime":494.04,"endTime":498.0,"body":"finance in terms of, you know,"},{"speaker":"Ryan McCall","startTime":498.0,"endTime":503.22,"body":"the kinds of investors that it"},{"speaker":"Ryan McCall","startTime":498.0,"endTime":503.22,"body":"attracts, portfolio allocation,"},{"speaker":"Ryan McCall","startTime":503.61,"endTime":507.6,"body":"the infrastructure, the service"},{"speaker":"Ryan McCall","startTime":503.61,"endTime":507.6,"body":"providers, the products, etc."},{"speaker":"Ryan McCall","startTime":508.56,"endTime":513.9,"body":"And, you know, one thing that I"},{"speaker":"Ryan McCall","startTime":508.56,"endTime":513.9,"body":"think we were wrong about"},{"speaker":"Ryan McCall","startTime":513.93,"endTime":519.72,"body":"actually was, you know, family"},{"speaker":"Ryan McCall","startTime":513.93,"endTime":519.72,"body":"offices appetite for risk. And,"},{"speaker":"Ryan McCall","startTime":519.78,"endTime":524.85,"body":"you know, we built our business"},{"speaker":"Ryan McCall","startTime":519.78,"endTime":524.85,"body":"around, you know, safe access"},{"speaker":"Ryan McCall","startTime":524.85,"endTime":529.41,"body":"points, trying to reduce"},{"speaker":"Ryan McCall","startTime":524.85,"endTime":529.41,"body":"volatility where possible, but,"},{"speaker":"Ryan McCall","startTime":529.68,"endTime":531.54,"body":"you know, the conversations that"},{"speaker":"Ryan McCall","startTime":529.68,"endTime":531.54,"body":"we're having with family"},{"speaker":"Ryan McCall","startTime":531.54,"endTime":535.86,"body":"officers at the moment, they're"},{"speaker":"Ryan McCall","startTime":531.54,"endTime":535.86,"body":"really into some some riskier"},{"speaker":"Ryan McCall","startTime":535.86,"endTime":539.52,"body":"and more exotic stuff. You know,"},{"speaker":"Ryan McCall","startTime":535.86,"endTime":539.52,"body":"staking and yield farming and"},{"speaker":"Ryan McCall","startTime":539.52,"endTime":543.3,"body":"you're looking for these crazy"},{"speaker":"Ryan McCall","startTime":539.52,"endTime":543.3,"body":"yields that you can get, you"},{"speaker":"Ryan McCall","startTime":543.3,"endTime":547.32,"body":"know, 30 40%. You still have"},{"speaker":"Ryan McCall","startTime":543.3,"endTime":547.32,"body":"family officers that are"},{"speaker":"Ryan McCall","startTime":547.38,"endTime":551.37,"body":"interested in just pure Bitcoin"},{"speaker":"Ryan McCall","startTime":547.38,"endTime":551.37,"body":"exposure, of course, and the"},{"speaker":"Ryan McCall","startTime":551.37,"endTime":555.45,"body":"journey for all investors,"},{"speaker":"Ryan McCall","startTime":551.37,"endTime":555.45,"body":"regardless of you know, whether"},{"speaker":"Ryan McCall","startTime":555.45,"endTime":559.35,"body":"it's the mums and dads or the"},{"speaker":"Ryan McCall","startTime":555.45,"endTime":559.35,"body":"family officers, it always"},{"speaker":"Ryan McCall","startTime":559.35,"endTime":561.99,"body":"starts with Bitcoin, then you"},{"speaker":"Ryan McCall","startTime":559.35,"endTime":561.99,"body":"learn about Ethereum and then"},{"speaker":"Ryan McCall","startTime":561.99,"endTime":565.23,"body":"you learn about you know. You"},{"speaker":"Ryan McCall","startTime":561.99,"endTime":565.23,"body":"ever learn a bunch of stable"},{"speaker":"Ryan McCall","startTime":565.23,"endTime":570.81,"body":"coins and then you get into DeFi"},{"speaker":"Ryan McCall","startTime":565.23,"endTime":570.81,"body":"and all the weird stuff. Yeah,"},{"speaker":"Ryan McCall","startTime":570.84,"endTime":576.81,"body":"it's been really eye opening for"},{"speaker":"Ryan McCall","startTime":570.84,"endTime":576.81,"body":"us, actually, that the appetite"},{"speaker":"Ryan McCall","startTime":576.81,"endTime":578.91,"body":"for risk that these family"},{"speaker":"Ryan McCall","startTime":576.81,"endTime":578.91,"body":"offices have,"},{"speaker":"Jon de Wet","startTime":579.089,"endTime":581.339,"body":"I was going to say,"},{"speaker":"Jon de Wet","startTime":579.089,"endTime":581.339,"body":"like family offices are really"},{"speaker":"Jon de Wet","startTime":581.339,"endTime":585.989,"body":"interesting kettle of fish,"},{"speaker":"Jon de Wet","startTime":581.339,"endTime":585.989,"body":"because when you start a"},{"speaker":"Jon de Wet","startTime":585.989,"endTime":589.229,"body":"business, everyone wants to get"},{"speaker":"Jon de Wet","startTime":585.989,"endTime":589.229,"body":"in front of family offices, and"},{"speaker":"Jon de Wet","startTime":589.229,"endTime":593.789,"body":"they're a bit of a mysterious"},{"speaker":"Jon de Wet","startTime":589.229,"endTime":593.789,"body":"bunch, like quiet hard to crack."},{"speaker":"Jon de Wet","startTime":594.059,"endTime":598.319,"body":"But when you get in, then you're"},{"speaker":"Jon de Wet","startTime":594.059,"endTime":598.319,"body":"part of the ecosystem, you know,"},{"speaker":"Jon de Wet","startTime":598.319,"endTime":602.099,"body":"and we're very lucky to have"},{"speaker":"Jon de Wet","startTime":598.319,"endTime":602.099,"body":"have one of Australia's largest"},{"speaker":"Jon de Wet","startTime":602.099,"endTime":605.009,"body":"family offices backing our"},{"speaker":"Jon de Wet","startTime":602.099,"endTime":605.009,"body":"business, they have an equity"},{"speaker":"Jon de Wet","startTime":605.009,"endTime":609.389,"body":"stake in us. So we're part of"},{"speaker":"Jon de Wet","startTime":605.009,"endTime":609.389,"body":"that ecosystem and information"},{"speaker":"Jon de Wet","startTime":609.389,"endTime":615.989,"body":"flow. And they are, like super,"},{"speaker":"Jon de Wet","startTime":609.389,"endTime":615.989,"body":"super nice people and crews to"},{"speaker":"Jon de Wet","startTime":615.989,"endTime":619.229,"body":"work with. And they're actually"},{"speaker":"Jon de Wet","startTime":615.989,"endTime":619.229,"body":"a lot less formal than you'd"},{"speaker":"Jon de Wet","startTime":619.229,"endTime":623.399,"body":"think, you know, we hang out and"},{"speaker":"Jon de Wet","startTime":619.229,"endTime":623.399,"body":"go out for falafels and kick"},{"speaker":"Jon de Wet","startTime":623.399,"endTime":627.239,"body":"back with these guys and have"},{"speaker":"Jon de Wet","startTime":623.399,"endTime":627.239,"body":"learned a hell of a lot about"},{"speaker":"Jon de Wet","startTime":627.239,"endTime":632.489,"body":"that world. So um, yeah, it's,"},{"speaker":"Jon de Wet","startTime":627.239,"endTime":632.489,"body":"been a hell of a journey,"},{"speaker":"Jon de Wet","startTime":632.489,"endTime":633.929,"body":"actually, with this family"},{"speaker":"Jon de Wet","startTime":632.489,"endTime":633.929,"body":"office."},{"speaker":"Matt Zahab","startTime":634.75,"endTime":636.52,"body":"I love a couple"},{"speaker":"Matt Zahab","startTime":634.75,"endTime":636.52,"body":"points you guys brought out"},{"speaker":"Matt Zahab","startTime":636.52,"endTime":640.54,"body":"there? One thing that Ryan said,"},{"speaker":"Matt Zahab","startTime":636.52,"endTime":640.54,"body":"I believe, Ryan, you talked"},{"speaker":"Matt Zahab","startTime":640.54,"endTime":645.43,"body":"about getting 30 to 40% via DeFi"},{"speaker":"Matt Zahab","startTime":640.54,"endTime":645.43,"body":"and yield farming, I want to go"},{"speaker":"Matt Zahab","startTime":645.43,"endTime":648.85,"body":"back to that. But in just one"},{"speaker":"Matt Zahab","startTime":645.43,"endTime":648.85,"body":"second, but more on the family"},{"speaker":"Matt Zahab","startTime":648.85,"endTime":653.2,"body":"offices. How do you get into"},{"speaker":"Matt Zahab","startTime":648.85,"endTime":653.2,"body":"that circle? Like I have a mate"},{"speaker":"Matt Zahab","startTime":653.23,"endTime":657.58,"body":"who he must have a list of I'm"},{"speaker":"Matt Zahab","startTime":653.23,"endTime":657.58,"body":"gonna save 1500 family offices"},{"speaker":"Matt Zahab","startTime":657.58,"endTime":661.54,"body":"across Canada and United States"},{"speaker":"Matt Zahab","startTime":657.58,"endTime":661.54,"body":"of America with direct dials of"},{"speaker":"Matt Zahab","startTime":661.54,"endTime":667.3,"body":"the CIOs and legit managers and"},{"speaker":"Matt Zahab","startTime":661.54,"endTime":667.3,"body":"sort of gms and owners, CEOs,"},{"speaker":"Matt Zahab","startTime":667.3,"endTime":670.21,"body":"you name it, the whole C suite"},{"speaker":"Matt Zahab","startTime":667.3,"endTime":670.21,"body":"and decision makers, he has"},{"speaker":"Matt Zahab","startTime":670.21,"endTime":673.09,"body":"direct dials and emails to them."},{"speaker":"Matt Zahab","startTime":670.21,"endTime":673.09,"body":"He can probably sell this thing"},{"speaker":"Matt Zahab","startTime":673.09,"endTime":675.58,"body":"for a couple, you know, I'm"},{"speaker":"Matt Zahab","startTime":673.09,"endTime":675.58,"body":"gonna say 10 20 grand a pop?"},{"speaker":"Matt Zahab","startTime":675.61,"endTime":677.98,"body":"Because like that's a great"},{"speaker":"Matt Zahab","startTime":675.61,"endTime":677.98,"body":"return right there. How do you"},{"speaker":"Matt Zahab","startTime":677.98,"endTime":680.47,"body":"get access to something like"},{"speaker":"Matt Zahab","startTime":677.98,"endTime":680.47,"body":"that? Is it just going into one"},{"speaker":"Matt Zahab","startTime":680.71,"endTime":684.31,"body":"guy or gal and hoping you crush"},{"speaker":"Matt Zahab","startTime":680.71,"endTime":684.31,"body":"that initial relationship and"},{"speaker":"Matt Zahab","startTime":684.31,"endTime":686.26,"body":"get referrals? Like, how does"},{"speaker":"Matt Zahab","startTime":684.31,"endTime":686.26,"body":"that work? What do you do?"},{"speaker":"Ryan McCall","startTime":686.0,"endTime":690.38,"body":"Yeah, look, it is a"},{"speaker":"Ryan McCall","startTime":686.0,"endTime":690.38,"body":"really relationship driven"},{"speaker":"Ryan McCall","startTime":690.38,"endTime":698.24,"body":"business. And, you know, we were"},{"speaker":"Ryan McCall","startTime":690.38,"endTime":698.24,"body":"pretty lucky, actually. We"},{"speaker":"Ryan McCall","startTime":698.24,"endTime":701.48,"body":"initially set the business up,"},{"speaker":"Ryan McCall","startTime":698.24,"endTime":701.48,"body":"like I said earlier with this"},{"speaker":"Ryan McCall","startTime":701.48,"endTime":706.22,"body":"hypothesis, around working with"},{"speaker":"Ryan McCall","startTime":701.48,"endTime":706.22,"body":"high net worth family offices"},{"speaker":"Ryan McCall","startTime":706.22,"endTime":709.55,"body":"and institutions based on where"},{"speaker":"Ryan McCall","startTime":706.22,"endTime":709.55,"body":"we thought the adoption was"},{"speaker":"Ryan McCall","startTime":709.55,"endTime":714.59,"body":"going. And, you know, we build"},{"speaker":"Ryan McCall","startTime":709.55,"endTime":714.59,"body":"the business for, I guess, for a"},{"speaker":"Ryan McCall","startTime":714.59,"endTime":717.62,"body":"market that didn't really exist"},{"speaker":"Ryan McCall","startTime":714.59,"endTime":717.62,"body":"at the time or a demand that"},{"speaker":"Ryan McCall","startTime":717.62,"endTime":721.25,"body":"didn't exist at the time. But"},{"speaker":"Ryan McCall","startTime":717.62,"endTime":721.25,"body":"you know, that demand has"},{"speaker":"Ryan McCall","startTime":721.25,"endTime":724.4,"body":"obviously come now. And we were"},{"speaker":"Ryan McCall","startTime":721.25,"endTime":724.4,"body":"just in the right place in the"},{"speaker":"Ryan McCall","startTime":724.4,"endTime":727.7,"body":"right time. You know, there"},{"speaker":"Ryan McCall","startTime":724.4,"endTime":727.7,"body":"weren't a lot of, and there"},{"speaker":"Ryan McCall","startTime":727.7,"endTime":731.66,"body":"still aren't really a lot of"},{"speaker":"Ryan McCall","startTime":727.7,"endTime":731.66,"body":"players in Australia that were"},{"speaker":"Ryan McCall","startTime":731.81,"endTime":738.14,"body":"specifically geared towards that"},{"speaker":"Ryan McCall","startTime":731.81,"endTime":738.14,"body":"market. And we had a warm"},{"speaker":"Ryan McCall","startTime":738.17,"endTime":743.54,"body":"referral, just a really good"},{"speaker":"Ryan McCall","startTime":738.17,"endTime":743.54,"body":"relationship with a buddy, who"},{"speaker":"Ryan McCall","startTime":743.54,"endTime":747.08,"body":"was connected to someone that"},{"speaker":"Ryan McCall","startTime":743.54,"endTime":747.08,"body":"worked in a family office, that"},{"speaker":"Ryan McCall","startTime":747.08,"endTime":751.43,"body":"family office was doing some"},{"speaker":"Ryan McCall","startTime":747.08,"endTime":751.43,"body":"scoping, you know, investigating"},{"speaker":"Ryan McCall","startTime":751.97,"endTime":758.18,"body":"their first crypto allocation"},{"speaker":"Ryan McCall","startTime":751.97,"endTime":758.18,"body":"and got referred to us. And, you"},{"speaker":"Ryan McCall","startTime":758.18,"endTime":761.36,"body":"know, of course, the family"},{"speaker":"Ryan McCall","startTime":758.18,"endTime":761.36,"body":"office was investigating a"},{"speaker":"Ryan McCall","startTime":761.36,"endTime":766.67,"body":"number of different firms, both"},{"speaker":"Ryan McCall","startTime":761.36,"endTime":766.67,"body":"onshore and offshore. And, you"},{"speaker":"Ryan McCall","startTime":766.67,"endTime":772.16,"body":"know, because we were really"},{"speaker":"Ryan McCall","startTime":766.67,"endTime":772.16,"body":"structured to specifically cater"},{"speaker":"Ryan McCall","startTime":772.16,"endTime":776.24,"body":"to that type of client. You"},{"speaker":"Ryan McCall","startTime":772.16,"endTime":776.24,"body":"know, at the time, there were a"},{"speaker":"Ryan McCall","startTime":776.24,"endTime":780.56,"body":"handful of retail focused"},{"speaker":"Ryan McCall","startTime":776.24,"endTime":780.56,"body":"exchanges. There are a couple of"},{"speaker":"Ryan McCall","startTime":780.56,"endTime":784.82,"body":"like, pure OTC desks, and there"},{"speaker":"Ryan McCall","startTime":780.56,"endTime":784.82,"body":"weren't really any fund managers"},{"speaker":"Ryan McCall","startTime":784.82,"endTime":788.27,"body":"that were working in crypto at"},{"speaker":"Ryan McCall","startTime":784.82,"endTime":788.27,"body":"the time, but, you know, we"},{"speaker":"Ryan McCall","startTime":788.27,"endTime":792.02,"body":"really had a bit of everything,"},{"speaker":"Ryan McCall","startTime":788.27,"endTime":792.02,"body":"really, sort of a full service"},{"speaker":"Ryan McCall","startTime":792.02,"endTime":795.11,"body":"model for that type of client."},{"speaker":"Ryan McCall","startTime":792.02,"endTime":795.11,"body":"So we ended up winning that"},{"speaker":"Ryan McCall","startTime":795.11,"endTime":800.66,"body":"business. And from there, you"},{"speaker":"Ryan McCall","startTime":795.11,"endTime":800.66,"body":"know, once you're in, you're in,"},{"speaker":"Ryan McCall","startTime":802.01,"endTime":808.13,"body":"it is really trust based, and"},{"speaker":"Ryan McCall","startTime":802.01,"endTime":808.13,"body":"we've had a lot more warm"},{"speaker":"Ryan McCall","startTime":808.13,"endTime":813.14,"body":"referrals from that first family"},{"speaker":"Ryan McCall","startTime":808.13,"endTime":813.14,"body":"office. You know, a lot of these"},{"speaker":"Ryan McCall","startTime":813.17,"endTime":818.48,"body":"families tend to co invest. I"},{"speaker":"Ryan McCall","startTime":813.17,"endTime":818.48,"body":"guess, you know, if someone has"},{"speaker":"Ryan McCall","startTime":818.48,"endTime":823.49,"body":"done their initial due diligence"},{"speaker":"Ryan McCall","startTime":818.48,"endTime":823.49,"body":"on a firm like us, you know,"},{"speaker":"Ryan McCall","startTime":823.49,"endTime":828.38,"body":"that's obviously ticking a big"},{"speaker":"Ryan McCall","startTime":823.49,"endTime":828.38,"body":"box for a lot of other families."},{"speaker":"Ryan McCall","startTime":828.38,"endTime":833.45,"body":"So yeah, you know, your buddy"},{"speaker":"Ryan McCall","startTime":828.38,"endTime":833.45,"body":"there who's got a list of 1500"},{"speaker":"Ryan McCall","startTime":833.45,"endTime":837.47,"body":"odd families. You know, I"},{"speaker":"Ryan McCall","startTime":833.45,"endTime":837.47,"body":"imagine he's built out over a"},{"speaker":"Ryan McCall","startTime":837.47,"endTime":842.18,"body":"few years. But, you know, the"},{"speaker":"Ryan McCall","startTime":837.47,"endTime":842.18,"body":"hardest one is the first one,"},{"speaker":"Ryan McCall","startTime":842.24,"endTime":844.73,"body":"and it does get easy from there."},{"speaker":"Matt Zahab","startTime":845.66,"endTime":847.58,"body":"And then the"},{"speaker":"Matt Zahab","startTime":845.66,"endTime":847.58,"body":"dominoes fall. Let's go back to"},{"speaker":"Matt Zahab","startTime":847.58,"endTime":851.33,"body":"that yield farming. Where the"},{"speaker":"Matt Zahab","startTime":847.58,"endTime":851.33,"body":"heck are you guys snagging 30 to"},{"speaker":"Matt Zahab","startTime":851.33,"endTime":855.29,"body":"40%. Spill the beans, let's go"},{"speaker":"Matt Zahab","startTime":851.33,"endTime":855.29,"body":"spill the beans. Where is it?"},{"speaker":"Jon de Wet","startTime":855.87,"endTime":858.48,"body":"Look, here's the"},{"speaker":"Jon de Wet","startTime":855.87,"endTime":858.48,"body":"thing, right? So we're not"},{"speaker":"Jon de Wet","startTime":858.48,"endTime":863.52,"body":"offering the yield farming as a"},{"speaker":"Jon de Wet","startTime":858.48,"endTime":863.52,"body":"product yet for our investors."},{"speaker":"Jon de Wet","startTime":863.79,"endTime":868.65,"body":"We're running our proprietary"},{"speaker":"Jon de Wet","startTime":863.79,"endTime":868.65,"body":"capital on some yield farming"},{"speaker":"Jon de Wet","startTime":868.68,"endTime":873.03,"body":"protocols. And basically, we're"},{"speaker":"Jon de Wet","startTime":868.68,"endTime":873.03,"body":"in a test and learn period. Now"},{"speaker":"Jon de Wet","startTime":873.03,"endTime":876.87,"body":"business, you know, we move"},{"speaker":"Jon de Wet","startTime":873.03,"endTime":876.87,"body":"fairly quickly, when there's"},{"speaker":"Jon de Wet","startTime":876.9,"endTime":881.91,"body":"good opportunity with measured"},{"speaker":"Jon de Wet","startTime":876.9,"endTime":881.91,"body":"risk. We honestly still think as"},{"speaker":"Jon de Wet","startTime":881.91,"endTime":885.9,"body":"a product, you know, running"},{"speaker":"Jon de Wet","startTime":881.91,"endTime":885.9,"body":"hardcore yield farming is a"},{"speaker":"Jon de Wet","startTime":885.9,"endTime":889.92,"body":"fairly risky business. And, you"},{"speaker":"Jon de Wet","startTime":885.9,"endTime":889.92,"body":"know, to Ryan's point, the"},{"speaker":"Jon de Wet","startTime":889.92,"endTime":893.34,"body":"family offices definitely have"},{"speaker":"Jon de Wet","startTime":889.92,"endTime":893.34,"body":"more of a risk appetite than we"},{"speaker":"Jon de Wet","startTime":893.34,"endTime":896.67,"body":"initially expected. But at the"},{"speaker":"Jon de Wet","startTime":893.34,"endTime":896.67,"body":"same time, they haven't been"},{"speaker":"Jon de Wet","startTime":896.67,"endTime":900.72,"body":"liquidated or dumped on you"},{"speaker":"Jon de Wet","startTime":896.67,"endTime":900.72,"body":"know, on a government's protocol"},{"speaker":"Jon de Wet","startTime":900.72,"endTime":907.44,"body":"yet. We kind of have to come in"},{"speaker":"Jon de Wet","startTime":900.72,"endTime":907.44,"body":"as a measured you know having"},{"speaker":"Jon de Wet","startTime":907.44,"endTime":909.78,"body":"real measured approach with"},{"speaker":"Jon de Wet","startTime":907.44,"endTime":909.78,"body":"these guys before we launch a"},{"speaker":"Jon de Wet","startTime":909.78,"endTime":917.79,"body":"product. But internally you know"},{"speaker":"Jon de Wet","startTime":909.78,"endTime":917.79,"body":"you can get on Terra and 20% on"},{"speaker":"Jon de Wet","startTime":917.79,"endTime":922.92,"body":"leverage stride so Terra is like"},{"speaker":"Jon de Wet","startTime":917.79,"endTime":922.92,"body":"a US dollar stable coin it's one"},{"speaker":"Jon de Wet","startTime":922.92,"endTime":927.03,"body":"of these algorithmic stable"},{"speaker":"Jon de Wet","startTime":922.92,"endTime":927.03,"body":"coins. So that's the easiest way"},{"speaker":"Jon de Wet","startTime":927.03,"endTime":931.32,"body":"just to dip your foot in in the"},{"speaker":"Jon de Wet","startTime":927.03,"endTime":931.32,"body":"DeFi yield farming space. Why"},{"speaker":"Jon de Wet","startTime":931.32,"endTime":936.75,"body":"earn obviously from Andre Kanye"},{"speaker":"Jon de Wet","startTime":931.32,"endTime":936.75,"body":"on medically yield farms like"},{"speaker":"Jon de Wet","startTime":936.75,"endTime":939.93,"body":"that's a really interesting"},{"speaker":"Jon de Wet","startTime":936.75,"endTime":939.93,"body":"automated protocol that's worth"},{"speaker":"Jon de Wet","startTime":939.93,"endTime":945.03,"body":"having a little tap at. In terms"},{"speaker":"Jon de Wet","startTime":939.93,"endTime":945.03,"body":"of the super high stuff, you"},{"speaker":"Jon de Wet","startTime":945.03,"endTime":949.71,"body":"know, we've got things like iron"},{"speaker":"Jon de Wet","startTime":945.03,"endTime":949.71,"body":"finance that has its own"},{"speaker":"Jon de Wet","startTime":950.82,"endTime":954.78,"body":"governance token, I think it's a"},{"speaker":"Jon de Wet","startTime":950.82,"endTime":954.78,"body":"Titan, like you can jump in"},{"speaker":"Jon de Wet","startTime":954.78,"endTime":958.56,"body":"there and yield farm stable coin"},{"speaker":"Jon de Wet","startTime":954.78,"endTime":958.56,"body":"to stable coin, right, so you"},{"speaker":"Jon de Wet","startTime":958.56,"endTime":962.88,"body":"don't have huge issues around a"},{"speaker":"Jon de Wet","startTime":958.56,"endTime":962.88,"body":"permanent loss. And you know"},{"speaker":"Jon de Wet","startTime":962.88,"endTime":966.27,"body":"that the moment I think the"},{"speaker":"Jon de Wet","startTime":962.88,"endTime":966.27,"body":"yield is something like 500% per"},{"speaker":"Jon de Wet","startTime":966.27,"endTime":974.52,"body":"annum. But here's the kicker,"},{"speaker":"Jon de Wet","startTime":966.27,"endTime":974.52,"body":"and as much as I love and we all"},{"speaker":"Jon de Wet","startTime":974.52,"endTime":978.9,"body":"love the DeFi space and think"},{"speaker":"Jon de Wet","startTime":974.52,"endTime":978.9,"body":"it's going to make huge waves in"},{"speaker":"Jon de Wet","startTime":978.9,"endTime":982.62,"body":"traditional finance. At the"},{"speaker":"Jon de Wet","startTime":978.9,"endTime":982.62,"body":"moment, the only way you can"},{"speaker":"Jon de Wet","startTime":982.62,"endTime":986.73,"body":"offer those kind of yields is by"},{"speaker":"Jon de Wet","startTime":982.62,"endTime":986.73,"body":"having the liquidity to get out"},{"speaker":"Jon de Wet","startTime":986.73,"endTime":990.54,"body":"of the token and that liquidity"},{"speaker":"Jon de Wet","startTime":986.73,"endTime":990.54,"body":"is only there because at the"},{"speaker":"Jon de Wet","startTime":990.54,"endTime":994.47,"body":"moment people buying that"},{"speaker":"Jon de Wet","startTime":990.54,"endTime":994.47,"body":"particular token. Now what you"},{"speaker":"Jon de Wet","startTime":994.47,"endTime":999.24,"body":"do start to get is a potential"},{"speaker":"Jon de Wet","startTime":994.47,"endTime":999.24,"body":"House of Cards right where"},{"speaker":"Jon de Wet","startTime":999.24,"endTime":1002.63,"body":"everyone's gunning for these"},{"speaker":"Jon de Wet","startTime":999.24,"endTime":1002.63,"body":"yields, but the sellers are"},{"speaker":"Jon de Wet","startTime":1002.63,"endTime":1008.0,"body":"waiting there to get out on"},{"speaker":"Jon de Wet","startTime":1002.63,"endTime":1008.0,"body":"those 500% per annum you know"},{"speaker":"Jon de Wet","startTime":1008.0,"endTime":1012.11,"body":"yield curves. Now those yields"},{"speaker":"Jon de Wet","startTime":1008.0,"endTime":1012.11,"body":"are only yields when you realize"},{"speaker":"Jon de Wet","startTime":1012.11,"endTime":1016.82,"body":"that the profits right so you"},{"speaker":"Jon de Wet","startTime":1012.11,"endTime":1016.82,"body":"know someone really interesting"},{"speaker":"Jon de Wet","startTime":1016.82,"endTime":1020.81,"body":"DeFi guy we talked to you here"},{"speaker":"Jon de Wet","startTime":1016.82,"endTime":1020.81,"body":"in Melbourne, who's been a great"},{"speaker":"Jon de Wet","startTime":1020.81,"endTime":1024.14,"body":"part of our business over the"},{"speaker":"Jon de Wet","startTime":1020.81,"endTime":1024.14,"body":"years actually, he basically"},{"speaker":"Jon de Wet","startTime":1024.14,"endTime":1029.63,"body":"said you know, these DeFi"},{"speaker":"Jon de Wet","startTime":1024.14,"endTime":1029.63,"body":"protocols, all of them go to"},{"speaker":"Jon de Wet","startTime":1029.63,"endTime":1034.85,"body":"zero, except for the top five at"},{"speaker":"Jon de Wet","startTime":1029.63,"endTime":1034.85,"body":"the moment in yield farming"},{"speaker":"Jon de Wet","startTime":1034.88,"endTime":1037.73,"body":"because they're literally just"},{"speaker":"Jon de Wet","startTime":1034.88,"endTime":1037.73,"body":"churn and burn kind of"},{"speaker":"Jon de Wet","startTime":1037.73,"endTime":1042.17,"body":"protocols. So in summary, like"},{"speaker":"Jon de Wet","startTime":1037.73,"endTime":1042.17,"body":"you can get in and out and share"},{"speaker":"Jon de Wet","startTime":1042.17,"endTime":1046.43,"body":"between different defi yield"},{"speaker":"Jon de Wet","startTime":1042.17,"endTime":1046.43,"body":"farming, you know, venues that"},{"speaker":"Jon de Wet","startTime":1046.46,"endTime":1050.9,"body":"pop up at the moment. But you've"},{"speaker":"Jon de Wet","startTime":1046.46,"endTime":1050.9,"body":"got to be super disciplined and"},{"speaker":"Jon de Wet","startTime":1050.9,"endTime":1053.57,"body":"diversified and basically"},{"speaker":"Jon de Wet","startTime":1050.9,"endTime":1053.57,"body":"continue to move."},{"speaker":"Matt Zahab","startTime":1054.05,"endTime":1057.5,"body":"Wow, you two just"},{"speaker":"Matt Zahab","startTime":1054.05,"endTime":1057.5,"body":"made my head spin there. I'm"},{"speaker":"Matt Zahab","startTime":1057.5,"endTime":1060.59,"body":"just trying to think of all the"},{"speaker":"Matt Zahab","startTime":1057.5,"endTime":1060.59,"body":"different avenues in which I can"},{"speaker":"Matt Zahab","startTime":1060.59,"endTime":1063.23,"body":"even, mind you, I don't have a"},{"speaker":"Matt Zahab","startTime":1060.59,"endTime":1063.23,"body":"whole lot of cake but even"},{"speaker":"Matt Zahab","startTime":1063.38,"endTime":1066.59,"body":"selfishly where I can put my"},{"speaker":"Matt Zahab","startTime":1063.38,"endTime":1066.59,"body":"money on the zerocap team, you"},{"speaker":"Matt Zahab","startTime":1066.59,"endTime":1069.74,"body":"must have a multitude of traders"},{"speaker":"Matt Zahab","startTime":1066.59,"endTime":1069.74,"body":"who are looking at different"},{"speaker":"Matt Zahab","startTime":1069.74,"endTime":1072.95,"body":"algos and using different algos"},{"speaker":"Matt Zahab","startTime":1069.74,"endTime":1072.95,"body":"every single day to find the"},{"speaker":"Matt Zahab","startTime":1072.95,"endTime":1078.23,"body":"best sort of pools to get into"},{"speaker":"Matt Zahab","startTime":1072.95,"endTime":1078.23,"body":"and the best farms to yield"},{"speaker":"Matt Zahab","startTime":1078.23,"endTime":1082.49,"body":"from. What does that process"},{"speaker":"Matt Zahab","startTime":1078.23,"endTime":1082.49,"body":"look like is, you know, I'm not"},{"speaker":"Matt Zahab","startTime":1082.49,"endTime":1084.89,"body":"asking for the golden ticket."},{"speaker":"Matt Zahab","startTime":1082.49,"endTime":1084.89,"body":"But I'm asking for as much of"},{"speaker":"Matt Zahab","startTime":1084.89,"endTime":1086.24,"body":"the secret sauce as you can get."},{"speaker":"Jon de Wet","startTime":1086.9,"endTime":1088.94,"body":"I mean, as I"},{"speaker":"Jon de Wet","startTime":1086.9,"endTime":1088.94,"body":"mentioned, like we're in the"},{"speaker":"Jon de Wet","startTime":1088.94,"endTime":1093.95,"body":"test and learning phase. So our"},{"speaker":"Jon de Wet","startTime":1088.94,"endTime":1093.95,"body":"algo team, excuse me, our algo"},{"speaker":"Jon de Wet","startTime":1093.95,"endTime":1098.9,"body":"team hasn't even built an algo"},{"speaker":"Jon de Wet","startTime":1093.95,"endTime":1098.9,"body":"around this yet right. At the"},{"speaker":"Jon de Wet","startTime":1098.9,"endTime":1102.59,"body":"moment our prop teams pretty"},{"speaker":"Jon de Wet","startTime":1098.9,"endTime":1102.59,"body":"much traditional our algorithms,"},{"speaker":"Jon de Wet","startTime":1102.59,"endTime":1107.63,"body":"trading futures basis curves,"},{"speaker":"Jon de Wet","startTime":1102.59,"endTime":1107.63,"body":"and PR funding, right. So at the"},{"speaker":"Jon de Wet","startTime":1107.63,"endTime":1112.52,"body":"moment, we've basically said and"},{"speaker":"Jon de Wet","startTime":1107.63,"endTime":1112.52,"body":"the whole team writing the"},{"speaker":"Jon de Wet","startTime":1112.52,"endTime":1117.62,"body":"traders and non traders who've"},{"speaker":"Jon de Wet","startTime":1112.52,"endTime":1117.62,"body":"said, go to town, here's some of"},{"speaker":"Jon de Wet","startTime":1117.62,"endTime":1121.01,"body":"our stable coins. Go learn as"},{"speaker":"Jon de Wet","startTime":1117.62,"endTime":1121.01,"body":"much as you can, you know, go"},{"speaker":"Jon de Wet","startTime":1121.01,"endTime":1125.21,"body":"break things, don't lose too"},{"speaker":"Jon de Wet","startTime":1121.01,"endTime":1125.21,"body":"much money and come back with"},{"speaker":"Jon de Wet","startTime":1125.21,"endTime":1129.26,"body":"some real learnings and I think"},{"speaker":"Jon de Wet","startTime":1125.21,"endTime":1129.26,"body":"those learnings are less about"},{"speaker":"Jon de Wet","startTime":1129.86,"endTime":1134.24,"body":"you know where's the opportunity"},{"speaker":"Jon de Wet","startTime":1129.86,"endTime":1134.24,"body":"now? The learnings are more"},{"speaker":"Jon de Wet","startTime":1134.24,"endTime":1139.25,"body":"around where's the scalability"},{"speaker":"Jon de Wet","startTime":1134.24,"endTime":1139.25,"body":"you know, and what will be great"},{"speaker":"Jon de Wet","startTime":1139.25,"endTime":1142.73,"body":"product in the future. Because"},{"speaker":"Jon de Wet","startTime":1139.25,"endTime":1142.73,"body":"if you can start to pick a few"},{"speaker":"Jon de Wet","startTime":1142.73,"endTime":1145.97,"body":"little gems like that, you know,"},{"speaker":"Jon de Wet","startTime":1142.73,"endTime":1145.97,"body":"we can build robust low risk"},{"speaker":"Jon de Wet","startTime":1145.97,"endTime":1150.14,"body":"products for our traditional"},{"speaker":"Jon de Wet","startTime":1145.97,"endTime":1150.14,"body":"investors. In answer your"},{"speaker":"Jon de Wet","startTime":1150.14,"endTime":1154.43,"body":"question, though, you know, if I"},{"speaker":"Jon de Wet","startTime":1150.14,"endTime":1154.43,"body":"was coming into yield farming"},{"speaker":"Jon de Wet","startTime":1154.43,"endTime":1158.36,"body":"now and just wanted to have a"},{"speaker":"Jon de Wet","startTime":1154.43,"endTime":1158.36,"body":"little bit of a play, I would"},{"speaker":"Jon de Wet","startTime":1158.36,"endTime":1161.99,"body":"definitely look at buying"},{"speaker":"Jon de Wet","startTime":1158.36,"endTime":1161.99,"body":"finance stable coin stable coin,"},{"speaker":"Jon de Wet","startTime":1162.02,"endTime":1164.75,"body":"because as I mentioned earlier,"},{"speaker":"Jon de Wet","startTime":1162.02,"endTime":1164.75,"body":"you know, you don't have to"},{"speaker":"Jon de Wet","startTime":1165.08,"endTime":1167.6,"body":"worry about things like"},{"speaker":"Jon de Wet","startTime":1165.08,"endTime":1167.6,"body":"impermanent loss, you don't have"},{"speaker":"Jon de Wet","startTime":1167.6,"endTime":1171.32,"body":"to, you know, you can pretty"},{"speaker":"Jon de Wet","startTime":1167.6,"endTime":1171.32,"body":"much pull capital, whatever you"},{"speaker":"Jon de Wet","startTime":1171.32,"endTime":1176.03,"body":"need. But I would just"},{"speaker":"Jon de Wet","startTime":1171.32,"endTime":1176.03,"body":"absolutely hazard to say like"},{"speaker":"Jon de Wet","startTime":1176.03,"endTime":1180.41,"body":"this stuff is super risky, you"},{"speaker":"Jon de Wet","startTime":1176.03,"endTime":1180.41,"body":"know, everything with those kind"},{"speaker":"Jon de Wet","startTime":1180.41,"endTime":1185.45,"body":"of return profiles. There"},{"speaker":"Jon de Wet","startTime":1180.41,"endTime":1185.45,"body":"carries a requisite level of"},{"speaker":"Jon de Wet","startTime":1185.45,"endTime":1189.92,"body":"risk. So do not bet the house on"},{"speaker":"Jon de Wet","startTime":1185.45,"endTime":1189.92,"body":"it and you know, bet on any one"},{"speaker":"Jon de Wet","startTime":1189.92,"endTime":1192.02,"body":"protocol would be my suggestion."},{"speaker":"Matt Zahab","startTime":1193.04,"endTime":1194.66,"body":"Good to know. And"},{"speaker":"Matt Zahab","startTime":1193.04,"endTime":1194.66,"body":"while we're talking all about"},{"speaker":"Matt Zahab","startTime":1194.66,"endTime":1197.27,"body":"this, just for our listeners who"},{"speaker":"Matt Zahab","startTime":1194.66,"endTime":1197.27,"body":"are unfamiliar with yield"},{"speaker":"Matt Zahab","startTime":1197.27,"endTime":1199.25,"body":"farming. Would one of you"},{"speaker":"Matt Zahab","startTime":1197.27,"endTime":1199.25,"body":"gentlemen mind giving you a very"},{"speaker":"Matt Zahab","startTime":1199.25,"endTime":1202.28,"body":"brief and quick to scription on"},{"speaker":"Matt Zahab","startTime":1199.25,"endTime":1202.28,"body":"what exactly yield farming is?"},{"speaker":"Jon de Wet","startTime":1202.48,"endTime":1207.49,"body":"Sure. So, yield"},{"speaker":"Jon de Wet","startTime":1202.48,"endTime":1207.49,"body":"farming is basically providing"},{"speaker":"Jon de Wet","startTime":1207.52,"endTime":1214.06,"body":"liquidity to decentralize"},{"speaker":"Jon de Wet","startTime":1207.52,"endTime":1214.06,"body":"exchanges. Basically, I'd say if"},{"speaker":"Jon de Wet","startTime":1214.06,"endTime":1216.46,"body":"you look at a traditional"},{"speaker":"Jon de Wet","startTime":1214.06,"endTime":1216.46,"body":"market, like if I want to go to"},{"speaker":"Jon de Wet","startTime":1216.46,"endTime":1219.31,"body":"an FX deal, I've got Aussie"},{"speaker":"Jon de Wet","startTime":1216.46,"endTime":1219.31,"body":"dollars, Matt, you've got"},{"speaker":"Jon de Wet","startTime":1219.34,"endTime":1224.2,"body":"Canadian dollars, we would"},{"speaker":"Jon de Wet","startTime":1219.34,"endTime":1224.2,"body":"generally go to a bank or an FX"},{"speaker":"Jon de Wet","startTime":1224.2,"endTime":1226.78,"body":"dealer, right. And they would be"},{"speaker":"Jon de Wet","startTime":1224.2,"endTime":1226.78,"body":"a middleman for that"},{"speaker":"Jon de Wet","startTime":1226.78,"endTime":1230.05,"body":"transaction. Decentralized"},{"speaker":"Jon de Wet","startTime":1226.78,"endTime":1230.05,"body":"finance is really around"},{"speaker":"Jon de Wet","startTime":1230.08,"endTime":1234.28,"body":"removing middlemen. Okay, now,"},{"speaker":"Jon de Wet","startTime":1230.08,"endTime":1234.28,"body":"in the FX deal, the bank"},{"speaker":"Jon de Wet","startTime":1234.28,"endTime":1236.92,"body":"actually plays liquidity"},{"speaker":"Jon de Wet","startTime":1234.28,"endTime":1236.92,"body":"provider. So I'll go to the"},{"speaker":"Jon de Wet","startTime":1236.92,"endTime":1239.77,"body":"bank, and I'll be like hey I"},{"speaker":"Jon de Wet","startTime":1236.92,"endTime":1239.77,"body":"want Canadian dollars, they'll"},{"speaker":"Jon de Wet","startTime":1239.77,"endTime":1242.38,"body":"give me Canadian dollars. And"},{"speaker":"Jon de Wet","startTime":1239.77,"endTime":1242.38,"body":"then a few hours later, you'll"},{"speaker":"Jon de Wet","startTime":1242.41,"endTime":1245.17,"body":"give them a call from Canada and"},{"speaker":"Jon de Wet","startTime":1242.41,"endTime":1245.17,"body":"say, hey, I want Aussie dollars."},{"speaker":"Jon de Wet","startTime":1245.17,"endTime":1248.8,"body":"And they'll basically house that"},{"speaker":"Jon de Wet","startTime":1245.17,"endTime":1248.8,"body":"risk. And there's a centralized"},{"speaker":"Jon de Wet","startTime":1248.8,"endTime":1251.92,"body":"function for that. DeFi is all"},{"speaker":"Jon de Wet","startTime":1248.8,"endTime":1251.92,"body":"around getting rid of the"},{"speaker":"Jon de Wet","startTime":1251.92,"endTime":1255.04,"body":"middleman, right. So when you"},{"speaker":"Jon de Wet","startTime":1251.92,"endTime":1255.04,"body":"get rid of the middleman, you"},{"speaker":"Jon de Wet","startTime":1255.04,"endTime":1258.73,"body":"need the liquidity from"},{"speaker":"Jon de Wet","startTime":1255.04,"endTime":1258.73,"body":"somewhere, the same function the"},{"speaker":"Jon de Wet","startTime":1258.73,"endTime":1262.3,"body":"banks would have played in the"},{"speaker":"Jon de Wet","startTime":1258.73,"endTime":1262.3,"body":"FX deal, all of a sudden, you"},{"speaker":"Jon de Wet","startTime":1262.3,"endTime":1265.96,"body":"now have peer to peer"},{"speaker":"Jon de Wet","startTime":1262.3,"endTime":1265.96,"body":"opportunities for people to"},{"speaker":"Jon de Wet","startTime":1265.96,"endTime":1270.79,"body":"actually provide that liquidity."},{"speaker":"Jon de Wet","startTime":1265.96,"endTime":1270.79,"body":"So it allows you and I to put"},{"speaker":"Jon de Wet","startTime":1271.27,"endTime":1274.03,"body":"Canadian dollars and Aussie"},{"speaker":"Jon de Wet","startTime":1271.27,"endTime":1274.03,"body":"dollars in that example, but in"},{"speaker":"Jon de Wet","startTime":1274.03,"endTime":1277.42,"body":"the DeFi space, it's around"},{"speaker":"Jon de Wet","startTime":1274.03,"endTime":1277.42,"body":"putting binance dollar, you"},{"speaker":"Jon de Wet","startTime":1277.42,"endTime":1282.16,"body":"know, and usdc on a DeFi"},{"speaker":"Jon de Wet","startTime":1277.42,"endTime":1282.16,"body":"platform, and that's what the"},{"speaker":"Jon de Wet","startTime":1282.16,"endTime":1286.66,"body":"liquidity that they use to"},{"speaker":"Jon de Wet","startTime":1282.16,"endTime":1286.66,"body":"facilitate transactions. So when"},{"speaker":"Jon de Wet","startTime":1286.66,"endTime":1289.9,"body":"you look at that, you become an"},{"speaker":"Jon de Wet","startTime":1286.66,"endTime":1289.9,"body":"automated market maker, and you"},{"speaker":"Jon de Wet","startTime":1289.9,"endTime":1293.35,"body":"basically earn a clip on"},{"speaker":"Jon de Wet","startTime":1289.9,"endTime":1293.35,"body":"transaction fees as part of that"},{"speaker":"Jon de Wet","startTime":1293.35,"endTime":1298.45,"body":"pool. Now, in isolation, the"},{"speaker":"Jon de Wet","startTime":1293.35,"endTime":1298.45,"body":"yields wouldn't be massively"},{"speaker":"Jon de Wet","startTime":1298.45,"endTime":1301.39,"body":"high, just owning transaction"},{"speaker":"Jon de Wet","startTime":1298.45,"endTime":1301.39,"body":"fees, but they need to"},{"speaker":"Jon de Wet","startTime":1301.39,"endTime":1304.87,"body":"incentivize liquidity, they want"},{"speaker":"Jon de Wet","startTime":1301.39,"endTime":1304.87,"body":"to incentivize you to come into"},{"speaker":"Jon de Wet","startTime":1304.87,"endTime":1307.84,"body":"these pools. And the way they do"},{"speaker":"Jon de Wet","startTime":1304.87,"endTime":1307.84,"body":"that is by offering new"},{"speaker":"Jon de Wet","startTime":1307.84,"endTime":1312.7,"body":"governance tokens. Basically,"},{"speaker":"Jon de Wet","startTime":1307.84,"endTime":1312.7,"body":"when you're providing liquidity,"},{"speaker":"Jon de Wet","startTime":1312.7,"endTime":1315.43,"body":"they need to incentivize you"},{"speaker":"Jon de Wet","startTime":1312.7,"endTime":1315.43,"body":"right to provide that liquidity."},{"speaker":"Jon de Wet","startTime":1315.82,"endTime":1318.46,"body":"So the way they do that is a few"},{"speaker":"Jon de Wet","startTime":1315.82,"endTime":1318.46,"body":"these governance tokens, and"},{"speaker":"Jon de Wet","startTime":1318.46,"endTime":1322.15,"body":"those governance tokens have a"},{"speaker":"Jon de Wet","startTime":1318.46,"endTime":1322.15,"body":"value of their own. So these"},{"speaker":"Jon de Wet","startTime":1322.15,"endTime":1327.46,"body":"500% yields per year, most of"},{"speaker":"Jon de Wet","startTime":1322.15,"endTime":1327.46,"body":"that cream is in the governance"},{"speaker":"Jon de Wet","startTime":1327.46,"endTime":1331.69,"body":"token and the value of the"},{"speaker":"Jon de Wet","startTime":1327.46,"endTime":1331.69,"body":"governance token. Now that, you"},{"speaker":"Jon de Wet","startTime":1331.69,"endTime":1335.44,"body":"know the problem with that is"},{"speaker":"Jon de Wet","startTime":1331.69,"endTime":1335.44,"body":"the governance token only has as"},{"speaker":"Jon de Wet","startTime":1335.44,"endTime":1340.33,"body":"much value as the market"},{"speaker":"Jon de Wet","startTime":1335.44,"endTime":1340.33,"body":"determines. So when the DeFi"},{"speaker":"Jon de Wet","startTime":1340.36,"endTime":1343.6,"body":"space is pumping, and everyone's"},{"speaker":"Jon de Wet","startTime":1340.36,"endTime":1343.6,"body":"buying those governance tokens"},{"speaker":"Jon de Wet","startTime":1343.6,"endTime":1347.35,"body":"tend to have huge value, you"},{"speaker":"Jon de Wet","startTime":1343.6,"endTime":1347.35,"body":"know, but when the whole thing's"},{"speaker":"Jon de Wet","startTime":1347.35,"endTime":1350.95,"body":"dumping, you can be held holding"},{"speaker":"Jon de Wet","startTime":1347.35,"endTime":1350.95,"body":"governance, that you can't get"},{"speaker":"Jon de Wet","startTime":1350.95,"endTime":1354.28,"body":"out of now. It's not a huge deal"},{"speaker":"Jon de Wet","startTime":1350.95,"endTime":1354.28,"body":"when you've got really liquid"},{"speaker":"Jon de Wet","startTime":1354.31,"endTime":1360.31,"body":"governance tokens in the larger"},{"speaker":"Jon de Wet","startTime":1354.31,"endTime":1360.31,"body":"platforms. But it can be a"},{"speaker":"Jon de Wet","startTime":1360.31,"endTime":1363.91,"body":"problem when you get into newer"},{"speaker":"Jon de Wet","startTime":1360.31,"endTime":1363.91,"body":"platforms with governance"},{"speaker":"Jon de Wet","startTime":1363.91,"endTime":1366.16,"body":"tokens. You don't know the"},{"speaker":"Jon de Wet","startTime":1363.91,"endTime":1366.16,"body":"founders, you know, there's"},{"speaker":"Jon de Wet","startTime":1366.16,"endTime":1368.71,"body":"limited liquidity and when"},{"speaker":"Jon de Wet","startTime":1366.16,"endTime":1368.71,"body":"everyone's running for the gates"},{"speaker":"Jon de Wet","startTime":1368.71,"endTime":1369.97,"body":"all thing goes to zero."},{"speaker":"Ryan McCall","startTime":1370.42,"endTime":1372.64,"body":"And when people are"},{"speaker":"Ryan McCall","startTime":1370.42,"endTime":1372.64,"body":"yield farming, essentially"},{"speaker":"Ryan McCall","startTime":1372.64,"endTime":1377.56,"body":"they're hopping from protocol to"},{"speaker":"Ryan McCall","startTime":1372.64,"endTime":1377.56,"body":"protocol, searching for the best"},{"speaker":"Ryan McCall","startTime":1377.56,"endTime":1378.13,"body":"yields."},{"speaker":"Matt Zahab","startTime":1378.43,"endTime":1380.83,"body":"That was awesome."},{"speaker":"Matt Zahab","startTime":1378.43,"endTime":1380.83,"body":"Thank you, gentlemen. That can"},{"speaker":"Matt Zahab","startTime":1380.83,"endTime":1384.67,"body":"be a bit of a gamble. And"},{"speaker":"Matt Zahab","startTime":1380.83,"endTime":1384.67,"body":"speaking of gambling, we want to"},{"speaker":"Matt Zahab","startTime":1384.67,"endTime":1389.02,"body":"give a quick shout out to our"},{"speaker":"Matt Zahab","startTime":1384.67,"endTime":1389.02,"body":"sponsor, coin poker.com. Folks,"},{"speaker":"Matt Zahab","startTime":1389.02,"endTime":1392.05,"body":"you've heard me talk about coin"},{"speaker":"Matt Zahab","startTime":1389.02,"endTime":1392.05,"body":"poker and their ambitious team"},{"speaker":"Matt Zahab","startTime":1392.26,"endTime":1395.5,"body":"many times on this podcast I"},{"speaker":"Matt Zahab","startTime":1392.26,"endTime":1395.5,"body":"absolutely love the platform. It"},{"speaker":"Matt Zahab","startTime":1395.5,"endTime":1399.82,"body":"is very quick, very clean. They"},{"speaker":"Matt Zahab","startTime":1395.5,"endTime":1399.82,"body":"offer instant and secure"},{"speaker":"Matt Zahab","startTime":1399.82,"endTime":1404.56,"body":"transactions and Ethereum"},{"speaker":"Matt Zahab","startTime":1399.82,"endTime":1404.56,"body":"Bitcoin USDT and their own"},{"speaker":"Matt Zahab","startTime":1404.56,"endTime":1408.31,"body":"currency $CHP which is almost"},{"speaker":"Matt Zahab","startTime":1404.56,"endTime":1408.31,"body":"like a stable coin and hovers at"},{"speaker":"Matt Zahab","startTime":1408.31,"endTime":1411.52,"body":"its great price, and still has a"},{"speaker":"Matt Zahab","startTime":1408.31,"endTime":1411.52,"body":"lot of room for growth. One of"},{"speaker":"Matt Zahab","startTime":1411.52,"endTime":1414.37,"body":"the best parts is no KYC. If you"},{"speaker":"Matt Zahab","startTime":1411.52,"endTime":1414.37,"body":"want to fly a little under the"},{"speaker":"Matt Zahab","startTime":1414.37,"endTime":1418.0,"body":"radar, coin poker is the"},{"speaker":"Matt Zahab","startTime":1414.37,"endTime":1418.0,"body":"absolute spot for you. Like I"},{"speaker":"Matt Zahab","startTime":1418.0,"endTime":1420.64,"body":"said, No KYC it's an absolute"},{"speaker":"Matt Zahab","startTime":1418.0,"endTime":1420.64,"body":"treat literally two minutes,"},{"speaker":"Matt Zahab","startTime":1420.64,"endTime":1423.37,"body":"maybe three minutes you're up"},{"speaker":"Matt Zahab","startTime":1420.64,"endTime":1423.37,"body":"and you're buzzing you can start"},{"speaker":"Matt Zahab","startTime":1423.37,"endTime":1426.43,"body":"playing Texas you can start"},{"speaker":"Matt Zahab","startTime":1423.37,"endTime":1426.43,"body":"playing five card. You can also"},{"speaker":"Matt Zahab","startTime":1426.43,"endTime":1429.76,"body":"do a couple cheeky sports bets"},{"speaker":"Matt Zahab","startTime":1426.43,"endTime":1429.76,"body":"like myself, the Euros are on"},{"speaker":"Matt Zahab","startTime":1429.76,"endTime":1432.31,"body":"right now. You got Stanley Cup"},{"speaker":"Matt Zahab","startTime":1429.76,"endTime":1432.31,"body":"Finals, hockey playoffs"},{"speaker":"Matt Zahab","startTime":1432.31,"endTime":1436.21,"body":"basketball playoffs, mid season"},{"speaker":"Matt Zahab","startTime":1432.31,"endTime":1436.21,"body":"for baseball, and like I said,"},{"speaker":"Matt Zahab","startTime":1436.21,"endTime":1439.21,"body":"the euros which is an absolute"},{"speaker":"Matt Zahab","startTime":1436.21,"endTime":1439.21,"body":"treat, head on over to coin"},{"speaker":"Matt Zahab","startTime":1439.21,"endTime":1448.84,"body":"poker.com and give them a try."},{"speaker":"Matt Zahab","startTime":1439.21,"endTime":1448.84,"body":"Ryan and jon, you guys have an"},{"speaker":"Matt Zahab","startTime":1448.84,"endTime":1452.95,"body":"incredible team of traders and I"},{"speaker":"Matt Zahab","startTime":1448.84,"endTime":1452.95,"body":"bet they are absolute sickos on"},{"speaker":"Matt Zahab","startTime":1452.95,"endTime":1454.66,"body":"the poker table, confirm or"},{"speaker":"Matt Zahab","startTime":1452.95,"endTime":1454.66,"body":"deny."},{"speaker":"Jon de Wet","startTime":1455.14,"endTime":1455.86,"body":"Confirm."},{"speaker":"Ryan McCall","startTime":1456.04,"endTime":1458.32,"body":"Yeah, you know,"},{"speaker":"Ryan McCall","startTime":1456.04,"endTime":1458.32,"body":"when we're hiring traders,"},{"speaker":"Ryan McCall","startTime":1458.32,"endTime":1462.37,"body":"actually, we, you know, we'll"},{"speaker":"Ryan McCall","startTime":1458.32,"endTime":1462.37,"body":"often get a lot of people"},{"speaker":"Ryan McCall","startTime":1462.37,"endTime":1466.09,"body":"applying that are poker players."},{"speaker":"Ryan McCall","startTime":1462.37,"endTime":1466.09,"body":"You know, poker players probably"},{"speaker":"Ryan McCall","startTime":1466.09,"endTime":1467.32,"body":"make the best traders."},{"speaker":"Matt Zahab","startTime":1467.41,"endTime":1470.53,"body":"Yeah they're in"},{"speaker":"Matt Zahab","startTime":1467.41,"endTime":1470.53,"body":"their head. They're also friggin"},{"speaker":"Matt Zahab","startTime":1470.53,"endTime":1473.47,"body":"smart that like they have, I"},{"speaker":"Matt Zahab","startTime":1470.53,"endTime":1473.47,"body":"don't know, jack Queen on the"},{"speaker":"Matt Zahab","startTime":1473.47,"endTime":1476.11,"body":"table, the other guy's got"},{"speaker":"Matt Zahab","startTime":1473.47,"endTime":1476.11,"body":"whatever, and they're just doing"},{"speaker":"Matt Zahab","startTime":1476.11,"endTime":1478.27,"body":"all the calculations in their"},{"speaker":"Matt Zahab","startTime":1476.11,"endTime":1478.27,"body":"head and they have it down to"},{"speaker":"Matt Zahab","startTime":1478.27,"endTime":1481.27,"body":"science, whereas I'm here I'm"},{"speaker":"Matt Zahab","startTime":1478.27,"endTime":1481.27,"body":"using nothing but qual and"},{"speaker":"Matt Zahab","startTime":1481.27,"endTime":1484.21,"body":"they're using nothing but Quan."},{"speaker":"Matt Zahab","startTime":1481.27,"endTime":1484.21,"body":"And that's why I don't win"},{"speaker":"Matt Zahab","startTime":1484.21,"endTime":1484.66,"body":"poker."},{"speaker":"Jon de Wet","startTime":1485.05,"endTime":1488.68,"body":"You know, the"},{"speaker":"Jon de Wet","startTime":1485.05,"endTime":1488.68,"body":"biggest connection point between"},{"speaker":"Jon de Wet","startTime":1488.68,"endTime":1492.7,"body":"poker and trading is position"},{"speaker":"Jon de Wet","startTime":1488.68,"endTime":1492.7,"body":"sizing. Like poker players know"},{"speaker":"Jon de Wet","startTime":1492.7,"endTime":1497.02,"body":"when to bet and when not to bet"},{"speaker":"Jon de Wet","startTime":1492.7,"endTime":1497.02,"body":"and how much to bet right and"},{"speaker":"Jon de Wet","startTime":1497.02,"endTime":1502.06,"body":"trading, it's just a game of"},{"speaker":"Jon de Wet","startTime":1497.02,"endTime":1502.06,"body":"knowing how big to bet on every"},{"speaker":"Jon de Wet","startTime":1502.06,"endTime":1505.51,"body":"deal. And that's all statistics,"},{"speaker":"Jon de Wet","startTime":1502.06,"endTime":1505.51,"body":"you know, and getting a real"},{"speaker":"Jon de Wet","startTime":1505.51,"endTime":1508.09,"body":"feel for the market or getting"},{"speaker":"Jon de Wet","startTime":1505.51,"endTime":1508.09,"body":"real feel for the plays on the"},{"speaker":"Jon de Wet","startTime":1508.09,"endTime":1508.6,"body":"table."},{"speaker":"Matt Zahab","startTime":1509.86,"endTime":1511.87,"body":"imagine you to in a"},{"speaker":"Matt Zahab","startTime":1509.86,"endTime":1511.87,"body":"job interview, it's like you"},{"speaker":"Matt Zahab","startTime":1511.87,"endTime":1514.21,"body":"have a trader crossing out the"},{"speaker":"Matt Zahab","startTime":1511.87,"endTime":1514.21,"body":"table and you just whip out a"},{"speaker":"Matt Zahab","startTime":1514.21,"endTime":1516.31,"body":"deck of cards, give him some"},{"speaker":"Matt Zahab","startTime":1514.21,"endTime":1516.31,"body":"chips, and it's like, well, if"},{"speaker":"Matt Zahab","startTime":1516.31,"endTime":1518.56,"body":"you can beat us in a game of"},{"speaker":"Matt Zahab","startTime":1516.31,"endTime":1518.56,"body":"Texas, you got the job."},{"speaker":"Ryan McCall","startTime":1519.04,"endTime":1521.02,"body":"Yeah, that's not"},{"speaker":"Ryan McCall","startTime":1519.04,"endTime":1521.02,"body":"gonna be too hard to beat me."},{"speaker":"Jon de Wet","startTime":1523.24,"endTime":1526.21,"body":"You know, we're"},{"speaker":"Jon de Wet","startTime":1523.24,"endTime":1526.21,"body":"actually hiring at the moment,"},{"speaker":"Jon de Wet","startTime":1526.21,"endTime":1530.47,"body":"right? So we ask lateral"},{"speaker":"Jon de Wet","startTime":1526.21,"endTime":1530.47,"body":"questions, try and get super"},{"speaker":"Jon de Wet","startTime":1530.5,"endTime":1534.1,"body":"innovative answers and just see"},{"speaker":"Jon de Wet","startTime":1530.5,"endTime":1534.1,"body":"how these guys think. Right? So"},{"speaker":"Jon de Wet","startTime":1534.4,"endTime":1537.76,"body":"one interesting one we asked the"},{"speaker":"Jon de Wet","startTime":1534.4,"endTime":1537.76,"body":"other day is how many baseballs"},{"speaker":"Jon de Wet","startTime":1537.76,"endTime":1540.88,"body":"can you fit into 747 jumbo jet?"},{"speaker":"Matt Zahab","startTime":1541.15,"endTime":1541.75,"body":"Oh boy"},{"speaker":"Jon de Wet","startTime":1541.9,"endTime":1544.36,"body":"How would you answer"},{"speaker":"Jon de Wet","startTime":1541.9,"endTime":1544.36,"body":"that? It's interesting question"},{"speaker":"Jon de Wet","startTime":1544.36,"endTime":1547.33,"body":"that. You've got no calculator,"},{"speaker":"Jon de Wet","startTime":1544.36,"endTime":1547.33,"body":"you've just got to give us your"},{"speaker":"Jon de Wet","startTime":1547.33,"endTime":1548.5,"body":"thinking and given number."},{"speaker":"Matt Zahab","startTime":1548.57,"endTime":1551.0,"body":"How many baseballs?"},{"speaker":"Matt Zahab","startTime":1548.57,"endTime":1551.0,"body":"Well, I'm trying to think. I'd"},{"speaker":"Matt Zahab","startTime":1551.0,"endTime":1556.04,"body":"say me, I'm about I'm six feet"},{"speaker":"Matt Zahab","startTime":1551.0,"endTime":1556.04,"body":"bucks 75 on a good day, Buck 80"},{"speaker":"Matt Zahab","startTime":1556.04,"endTime":1559.25,"body":"on a bad day. And I'd say I'm"},{"speaker":"Matt Zahab","startTime":1556.04,"endTime":1559.25,"body":"about I don't know. 100"},{"speaker":"Matt Zahab","startTime":1559.25,"endTime":1565.82,"body":"baseballs maybe? And you can fit"},{"speaker":"Matt Zahab","startTime":1559.25,"endTime":1565.82,"body":"on 747? Probably 1000 of me? I"},{"speaker":"Matt Zahab","startTime":1565.82,"endTime":1568.7,"body":"guess maybe, I don't know."},{"speaker":"Matt Zahab","startTime":1565.82,"endTime":1568.7,"body":"1million, 2 million baseballs? I"},{"speaker":"Matt Zahab","startTime":1568.7,"endTime":1570.59,"body":"don't know? Do you guys have the"},{"speaker":"Matt Zahab","startTime":1568.7,"endTime":1570.59,"body":"answer to that?"},{"speaker":"Jon de Wet","startTime":1570.62,"endTime":1572.57,"body":"That's a good"},{"speaker":"Jon de Wet","startTime":1570.62,"endTime":1572.57,"body":"answer. A really good answer."},{"speaker":"Jon de Wet","startTime":1572.6,"endTime":1575.36,"body":"That's actually one of the"},{"speaker":"Jon de Wet","startTime":1572.6,"endTime":1575.36,"body":"better answers we've had by"},{"speaker":"Jon de Wet","startTime":1575.36,"endTime":1577.19,"body":"longshot in interviews."},{"speaker":"Matt Zahab","startTime":1577.22,"endTime":1579.26,"body":"Like, how would you"},{"speaker":"Matt Zahab","startTime":1577.22,"endTime":1579.26,"body":"size that up? Right? Like, I"},{"speaker":"Matt Zahab","startTime":1579.26,"endTime":1583.22,"body":"have no clue how big 747 is, I"},{"speaker":"Matt Zahab","startTime":1579.26,"endTime":1583.22,"body":"had just tried to find a unit of"},{"speaker":"Matt Zahab","startTime":1583.22,"endTime":1586.46,"body":"scale that I know the size of"},{"speaker":"Matt Zahab","startTime":1583.22,"endTime":1586.46,"body":"and there's no better unit of"},{"speaker":"Matt Zahab","startTime":1586.46,"endTime":1587.84,"body":"scale than myself."},{"speaker":"Ryan McCall","startTime":1588.53,"endTime":1590.75,"body":"That's how we were"},{"speaker":"Ryan McCall","startTime":1588.53,"endTime":1590.75,"body":"thinking about it as well."},{"speaker":"Jon de Wet","startTime":1591.77,"endTime":1594.98,"body":"I was thinking so"},{"speaker":"Jon de Wet","startTime":1591.77,"endTime":1594.98,"body":"economy probably has 300 people,"},{"speaker":"Jon de Wet","startTime":1595.04,"endTime":1599.45,"body":"you know, business probably has"},{"speaker":"Jon de Wet","startTime":1595.04,"endTime":1599.45,"body":"100 you can probably fit 3x the"},{"speaker":"Jon de Wet","startTime":1599.45,"endTime":1603.83,"body":"people in business to fill it up"},{"speaker":"Jon de Wet","startTime":1599.45,"endTime":1603.83,"body":"with humans, 2x the people in"},{"speaker":"Jon de Wet","startTime":1603.83,"endTime":1607.49,"body":"economy to fill it up with the"},{"speaker":"Jon de Wet","startTime":1603.83,"endTime":1607.49,"body":"economy size people. You know,"},{"speaker":"Jon de Wet","startTime":1607.49,"endTime":1612.2,"body":"therefore you have like 300"},{"speaker":"Jon de Wet","startTime":1607.49,"endTime":1612.2,"body":"people in business and 600 in"},{"speaker":"Jon de Wet","startTime":1612.23,"endTime":1618.05,"body":"economy, that's like 900 people."},{"speaker":"Jon de Wet","startTime":1612.23,"endTime":1618.05,"body":"And then you've got storage, so"},{"speaker":"Jon de Wet","startTime":1618.08,"endTime":1621.71,"body":"maybe another third for storage."},{"speaker":"Jon de Wet","startTime":1618.08,"endTime":1621.71,"body":"So all of a sudden, you've got"},{"speaker":"Jon de Wet","startTime":1621.71,"endTime":1625.04,"body":"1200 people how many baseballs"},{"speaker":"Jon de Wet","startTime":1621.71,"endTime":1625.04,"body":"can you fit in the person, you"},{"speaker":"Jon de Wet","startTime":1625.04,"endTime":1628.49,"body":"know, looking at your body"},{"speaker":"Jon de Wet","startTime":1625.04,"endTime":1628.49,"body":"weight, etc. And then you just"},{"speaker":"Jon de Wet","startTime":1628.49,"endTime":1632.93,"body":"have 100 but um, there's, it's"},{"speaker":"Jon de Wet","startTime":1628.49,"endTime":1632.93,"body":"really just how you think about"},{"speaker":"Jon de Wet","startTime":1632.93,"endTime":1636.23,"body":"it. You know, like another"},{"speaker":"Jon de Wet","startTime":1632.93,"endTime":1636.23,"body":"person did a blog where like"},{"speaker":"Jon de Wet","startTime":1636.23,"endTime":1641.6,"body":"well, a seat holds one person."},{"speaker":"Jon de Wet","startTime":1636.23,"endTime":1641.6,"body":"And if you like made a seat a"},{"speaker":"Jon de Wet","startTime":1641.6,"endTime":1644.21,"body":"box, how many baseballs can you"},{"speaker":"Jon de Wet","startTime":1641.6,"endTime":1644.21,"body":"fit in the box? And then how"},{"speaker":"Jon de Wet","startTime":1644.21,"endTime":1649.1,"body":"many boxes can you fit in the"},{"speaker":"Jon de Wet","startTime":1644.21,"endTime":1649.1,"body":"747. But this kind of stuff. You"},{"speaker":"Jon de Wet","startTime":1649.1,"endTime":1652.13,"body":"know this makes great traders"},{"speaker":"Jon de Wet","startTime":1649.1,"endTime":1652.13,"body":"and makes great staff members to"},{"speaker":"Jon de Wet","startTime":1652.13,"endTime":1654.98,"body":"be honest because you want"},{"speaker":"Jon de Wet","startTime":1652.13,"endTime":1654.98,"body":"people who can think outside the"},{"speaker":"Jon de Wet","startTime":1654.98,"endTime":1658.55,"body":"box. The real opportunity is not"},{"speaker":"Jon de Wet","startTime":1654.98,"endTime":1658.55,"body":"looking at a text box and trying"},{"speaker":"Jon de Wet","startTime":1658.55,"endTime":1662.57,"body":"to figure out how to make money"},{"speaker":"Jon de Wet","startTime":1658.55,"endTime":1662.57,"body":"you know, the way that traders"},{"speaker":"Jon de Wet","startTime":1662.57,"endTime":1665.87,"body":"in the 90s deer that's looking"},{"speaker":"Jon de Wet","startTime":1662.57,"endTime":1665.87,"body":"into the future I'm trying to"},{"speaker":"Jon de Wet","startTime":1665.87,"endTime":1669.44,"body":"figure out whether weird and"},{"speaker":"Jon de Wet","startTime":1665.87,"endTime":1669.44,"body":"wonderful opportunities to draw"},{"speaker":"Jon de Wet","startTime":1669.44,"endTime":1669.89,"body":"alpha."},{"speaker":"Matt Zahab","startTime":1670.29,"endTime":1674.19,"body":"I love that. One of"},{"speaker":"Matt Zahab","startTime":1670.29,"endTime":1674.19,"body":"I guess staying on topic. One of"},{"speaker":"Matt Zahab","startTime":1674.19,"endTime":1677.22,"body":"the probably the most unique"},{"speaker":"Matt Zahab","startTime":1674.19,"endTime":1677.22,"body":"interview questions I ever had"},{"speaker":"Matt Zahab","startTime":1677.22,"endTime":1681.66,"body":"was the interviewer across me"},{"speaker":"Matt Zahab","startTime":1677.22,"endTime":1681.66,"body":"He's like do you know the hiring"},{"speaker":"Matt Zahab","startTime":1681.66,"endTime":1684.54,"body":"test or just the business test"},{"speaker":"Matt Zahab","startTime":1681.66,"endTime":1684.54,"body":"or the friendship test where"},{"speaker":"Matt Zahab","startTime":1684.81,"endTime":1688.53,"body":"you'd never be a friend or hire"},{"speaker":"Matt Zahab","startTime":1684.81,"endTime":1688.53,"body":"someone that you can't have more"},{"speaker":"Matt Zahab","startTime":1688.53,"endTime":1690.63,"body":"than one pint with? Like, yeah,"},{"speaker":"Matt Zahab","startTime":1688.53,"endTime":1690.63,"body":"I've heard of that. Like my"},{"speaker":"Matt Zahab","startTime":1690.63,"endTime":1694.23,"body":"grandpa told me that long ago."},{"speaker":"Matt Zahab","startTime":1690.63,"endTime":1694.23,"body":"He's like, how many pints would"},{"speaker":"Matt Zahab","startTime":1694.23,"endTime":1697.83,"body":"you have with me? Like I don't"},{"speaker":"Matt Zahab","startTime":1694.23,"endTime":1697.83,"body":"know. Like, a lot. He's like how"},{"speaker":"Matt Zahab","startTime":1697.83,"endTime":1701.22,"body":"many pints will take until you"},{"speaker":"Matt Zahab","startTime":1697.83,"endTime":1701.22,"body":"blacked out and were absolutely"},{"speaker":"Matt Zahab","startTime":1701.22,"endTime":1703.86,"body":"you know, done. I'm paraphrasing"},{"speaker":"Matt Zahab","startTime":1701.22,"endTime":1703.86,"body":"here and I'm sitting there"},{"speaker":"Matt Zahab","startTime":1703.86,"endTime":1706.29,"body":"across the table and mind you I"},{"speaker":"Matt Zahab","startTime":1703.86,"endTime":1706.29,"body":"was young, I think it was 22 at"},{"speaker":"Matt Zahab","startTime":1706.29,"endTime":1709.8,"body":"the time and I'm like, do I give"},{"speaker":"Matt Zahab","startTime":1706.29,"endTime":1709.8,"body":"him the honest number like am I"},{"speaker":"Matt Zahab","startTime":1709.8,"endTime":1712.71,"body":"getting judged right now? Like"},{"speaker":"Matt Zahab","startTime":1709.8,"endTime":1712.71,"body":"how do you, what would you guys"},{"speaker":"Matt Zahab","startTime":1712.71,"endTime":1714.63,"body":"say there? Would you give the"},{"speaker":"Matt Zahab","startTime":1712.71,"endTime":1714.63,"body":"honest number and say I don't"},{"speaker":"Matt Zahab","startTime":1714.63,"endTime":1717.72,"body":"know 20 maybe? 24 on a good day"},{"speaker":"Matt Zahab","startTime":1714.63,"endTime":1717.72,"body":"like what do you say there when"},{"speaker":"Matt Zahab","startTime":1717.72,"endTime":1719.79,"body":"someone's like how many pints"},{"speaker":"Matt Zahab","startTime":1717.72,"endTime":1719.79,"body":"does it take you to blackout?"},{"speaker":"Ryan McCall","startTime":1719.82,"endTime":1722.85,"body":"Yeah, it depends"},{"speaker":"Ryan McCall","startTime":1719.82,"endTime":1722.85,"body":"what I've had for lunch that"},{"speaker":"Ryan McCall","startTime":1722.85,"endTime":1725.76,"body":"day. You know if you've learned"},{"speaker":"Ryan McCall","startTime":1722.85,"endTime":1725.76,"body":"this you can drink a lot of"},{"speaker":"Ryan McCall","startTime":1725.76,"endTime":1726.21,"body":"pints"},{"speaker":"Matt Zahab","startTime":1728.73,"endTime":1731.07,"body":"Oh, that's good."},{"speaker":"Matt Zahab","startTime":1728.73,"endTime":1731.07,"body":"Okay, back on topic."},{"speaker":"Jon de Wet","startTime":1731.82,"endTime":1734.28,"body":"I think you still in"},{"speaker":"Jon de Wet","startTime":1731.82,"endTime":1734.28,"body":"the stages where the hangover is"},{"speaker":"Jon de Wet","startTime":1734.28,"endTime":1737.43,"body":"not so bad where we're getting"},{"speaker":"Jon de Wet","startTime":1734.28,"endTime":1737.43,"body":"on now when the hangovers"},{"speaker":"Jon de Wet","startTime":1737.43,"endTime":1741.63,"body":"started really buzz. Around the"},{"speaker":"Jon de Wet","startTime":1737.43,"endTime":1741.63,"body":"10 I reckon by a long shot."},{"speaker":"Matt Zahab","startTime":1744.9,"endTime":1748.71,"body":"Well, I'm 26 but I"},{"speaker":"Matt Zahab","startTime":1744.9,"endTime":1748.71,"body":"remember getting after like"},{"speaker":"Matt Zahab","startTime":1748.71,"endTime":1752.34,"body":"really putting on a booze bag"},{"speaker":"Matt Zahab","startTime":1748.71,"endTime":1752.34,"body":"when I was 18 19 wake up the"},{"speaker":"Matt Zahab","startTime":1752.34,"endTime":1754.83,"body":"next day and it's like okay one"},{"speaker":"Matt Zahab","startTime":1752.34,"endTime":1754.83,"body":"coffee and I'm good to go even"},{"speaker":"Matt Zahab","startTime":1754.83,"endTime":1757.68,"body":"now if I put on a booze bag next"},{"speaker":"Matt Zahab","startTime":1754.83,"endTime":1757.68,"body":"morning, it feels like I hit by"},{"speaker":"Matt Zahab","startTime":1757.68,"endTime":1762.21,"body":"a you know Brinks bus or a"},{"speaker":"Matt Zahab","startTime":1757.68,"endTime":1762.21,"body":"Brinks truck. So yeah, it has"},{"speaker":"Matt Zahab","startTime":1762.21,"endTime":1765.54,"body":"been getting worse. But back to"},{"speaker":"Matt Zahab","startTime":1762.21,"endTime":1765.54,"body":"the show here. I do want to talk"},{"speaker":"Matt Zahab","startTime":1765.54,"endTime":1769.59,"body":"about Bitcoin. You guys were"},{"speaker":"Matt Zahab","startTime":1765.54,"endTime":1769.59,"body":"actually featured in an article"},{"speaker":"Matt Zahab","startTime":1769.62,"endTime":1773.61,"body":"not too long ago. And you talked"},{"speaker":"Matt Zahab","startTime":1769.62,"endTime":1773.61,"body":"about how Bitcoin has"},{"speaker":"Matt Zahab","startTime":1773.7,"endTime":1777.39,"body":"considerably fallen in price"},{"speaker":"Matt Zahab","startTime":1773.7,"endTime":1777.39,"body":"over the last month and a bit."},{"speaker":"Matt Zahab","startTime":1777.66,"endTime":1781.59,"body":"However, the fundamentals have"},{"speaker":"Matt Zahab","startTime":1777.66,"endTime":1781.59,"body":"not changed and I know that your"},{"speaker":"Matt Zahab","startTime":1781.59,"endTime":1786.57,"body":"team had some analysis in"},{"speaker":"Matt Zahab","startTime":1781.59,"endTime":1786.57,"body":"regards to the continual"},{"speaker":"Matt Zahab","startTime":1786.6,"endTime":1791.31,"body":"exposure of Bitcoin over time"},{"speaker":"Matt Zahab","startTime":1786.6,"endTime":1791.31,"body":"outweighs and outperforms a"},{"speaker":"Matt Zahab","startTime":1791.31,"endTime":1794.22,"body":"traditional portfolio with"},{"speaker":"Matt Zahab","startTime":1791.31,"endTime":1794.22,"body":"bonds, equities and commodities."},{"speaker":"Matt Zahab","startTime":1794.49,"endTime":1798.75,"body":"10 times out of 10. I want to"},{"speaker":"Matt Zahab","startTime":1794.49,"endTime":1798.75,"body":"know, again, going back to the"},{"speaker":"Matt Zahab","startTime":1798.75,"endTime":1801.66,"body":"whole How do you pitch a family"},{"speaker":"Matt Zahab","startTime":1798.75,"endTime":1801.66,"body":"office, how do you pitch a PE"},{"speaker":"Matt Zahab","startTime":1801.66,"endTime":1805.41,"body":"firm or a VC? How do you go"},{"speaker":"Matt Zahab","startTime":1801.66,"endTime":1805.41,"body":"about doing that? How do you"},{"speaker":"Matt Zahab","startTime":1805.41,"endTime":1808.71,"body":"pitch them and show them that"},{"speaker":"Matt Zahab","startTime":1805.41,"endTime":1808.71,"body":"just dollar cost averaging with"},{"speaker":"Matt Zahab","startTime":1808.71,"endTime":1811.77,"body":"Bitcoin will far outweigh any"},{"speaker":"Matt Zahab","startTime":1808.71,"endTime":1811.77,"body":"other investment you can do?"},{"speaker":"Matt Zahab","startTime":1811.8,"endTime":1812.61,"body":"What does that look like?"},{"speaker":"Jon de Wet","startTime":1812.66,"endTime":1815.21,"body":"Yeah Matt we've"},{"speaker":"Jon de Wet","startTime":1812.66,"endTime":1815.21,"body":"taken a couple of different"},{"speaker":"Jon de Wet","startTime":1815.21,"endTime":1818.81,"body":"approaches to this right, both"},{"speaker":"Jon de Wet","startTime":1815.21,"endTime":1818.81,"body":"at a quantitative level, and"},{"speaker":"Jon de Wet","startTime":1818.81,"endTime":1822.14,"body":"also from more of a macro"},{"speaker":"Jon de Wet","startTime":1818.81,"endTime":1822.14,"body":"economic and sentiment level."},{"speaker":"Jon de Wet","startTime":1822.44,"endTime":1825.29,"body":"Right? So from the quants side,"},{"speaker":"Jon de Wet","startTime":1822.44,"endTime":1825.29,"body":"which is what a lot of the"},{"speaker":"Jon de Wet","startTime":1825.29,"endTime":1829.04,"body":"family offices and the insiders"},{"speaker":"Jon de Wet","startTime":1825.29,"endTime":1829.04,"body":"understand, like, if you add"},{"speaker":"Jon de Wet","startTime":1829.04,"endTime":1835.01,"body":"Bitcoin to hypothetical"},{"speaker":"Jon de Wet","startTime":1829.04,"endTime":1835.01,"body":"portfolios over the last 5,6,7,8"},{"speaker":"Jon de Wet","startTime":1835.01,"endTime":1838.91,"body":"years, you improve risk adjusted"},{"speaker":"Jon de Wet","startTime":1835.01,"endTime":1838.91,"body":"returns right and the magic"},{"speaker":"Jon de Wet","startTime":1838.91,"endTime":1843.74,"body":"numbers around 5%. Then if you"},{"speaker":"Jon de Wet","startTime":1838.91,"endTime":1843.74,"body":"take Bitcoin and Ethereum,"},{"speaker":"Jon de Wet","startTime":1843.77,"endTime":1847.88,"body":"right, 70% Bitcoin 30% Ethereum,"},{"speaker":"Jon de Wet","startTime":1843.77,"endTime":1847.88,"body":"and you take what they call an"},{"speaker":"Jon de Wet","startTime":1847.88,"endTime":1851.54,"body":"efficient frontier approach,"},{"speaker":"Jon de Wet","startTime":1847.88,"endTime":1851.54,"body":"which looks at the optimal"},{"speaker":"Jon de Wet","startTime":1851.54,"endTime":1856.31,"body":"allocation of two risk assets as"},{"speaker":"Jon de Wet","startTime":1851.54,"endTime":1856.31,"body":"part of a broader portfolio. And"},{"speaker":"Jon de Wet","startTime":1856.37,"endTime":1861.05,"body":"you again, improve risk adjusted"},{"speaker":"Jon de Wet","startTime":1856.37,"endTime":1861.05,"body":"returns even more, because"},{"speaker":"Jon de Wet","startTime":1861.05,"endTime":1863.99,"body":"Ethereum and Bitcoin both have"},{"speaker":"Jon de Wet","startTime":1861.05,"endTime":1863.99,"body":"unique correlation"},{"speaker":"Jon de Wet","startTime":1864.02,"endTime":1868.28,"body":"characteristics themselves. So"},{"speaker":"Jon de Wet","startTime":1864.02,"endTime":1868.28,"body":"from a quantitative perspective,"},{"speaker":"Jon de Wet","startTime":1868.28,"endTime":1870.59,"body":"it makes sense, you know,"},{"speaker":"Jon de Wet","startTime":1868.28,"endTime":1870.59,"body":"earlier in the show, I mentioned"},{"speaker":"Jon de Wet","startTime":1870.59,"endTime":1875.78,"body":"leverage without leverage. That"},{"speaker":"Jon de Wet","startTime":1870.59,"endTime":1875.78,"body":"allows investors to position"},{"speaker":"Jon de Wet","startTime":1875.78,"endTime":1881.96,"body":"size as a smaller amount as part"},{"speaker":"Jon de Wet","startTime":1875.78,"endTime":1881.96,"body":"of a larger portfolio and still"},{"speaker":"Jon de Wet","startTime":1881.96,"endTime":1884.42,"body":"attain the kind of leverage"},{"speaker":"Jon de Wet","startTime":1881.96,"endTime":1884.42,"body":"you'd get, you know, when you're"},{"speaker":"Jon de Wet","startTime":1884.42,"endTime":1887.24,"body":"basically margining up on"},{"speaker":"Jon de Wet","startTime":1884.42,"endTime":1887.24,"body":"different stocks and other"},{"speaker":"Jon de Wet","startTime":1887.24,"endTime":1892.37,"body":"assets. So quantitatively, it"},{"speaker":"Jon de Wet","startTime":1887.24,"endTime":1892.37,"body":"makes huge sense in a portfolio."},{"speaker":"Jon de Wet","startTime":1892.82,"endTime":1895.91,"body":"Then we talk about at a"},{"speaker":"Jon de Wet","startTime":1892.82,"endTime":1895.91,"body":"fundamental level, right? So"},{"speaker":"Jon de Wet","startTime":1895.91,"endTime":1899.42,"body":"fundamentally, you know, what"},{"speaker":"Jon de Wet","startTime":1895.91,"endTime":1899.42,"body":"does Bitcoin offer? Well, it"},{"speaker":"Jon de Wet","startTime":1899.42,"endTime":1904.73,"body":"offers an asset that will never"},{"speaker":"Jon de Wet","startTime":1899.42,"endTime":1904.73,"body":"exceed 21 million coins, in a"},{"speaker":"Jon de Wet","startTime":1904.73,"endTime":1909.02,"body":"world where quantitative easing,"},{"speaker":"Jon de Wet","startTime":1904.73,"endTime":1909.02,"body":"doesn't seem to ever,"},{"speaker":"Jon de Wet","startTime":1910.34,"endTime":1914.96,"body":"potentially never stopped, you"},{"speaker":"Jon de Wet","startTime":1910.34,"endTime":1914.96,"body":"know, like we made taper QE now"},{"speaker":"Jon de Wet","startTime":1914.99,"endTime":1918.32,"body":"from the Fed and other central"},{"speaker":"Jon de Wet","startTime":1914.99,"endTime":1918.32,"body":"banks. But the next crisis,"},{"speaker":"Jon de Wet","startTime":1918.32,"endTime":1921.17,"body":"we're going to be printing more"},{"speaker":"Jon de Wet","startTime":1918.32,"endTime":1921.17,"body":"money, right. So this is a real"},{"speaker":"Jon de Wet","startTime":1921.17,"endTime":1925.46,"body":"hedge at a fundamental level,"},{"speaker":"Jon de Wet","startTime":1921.17,"endTime":1925.46,"body":"against quantitative easing and"},{"speaker":"Jon de Wet","startTime":1925.46,"endTime":1928.7,"body":"stimulus in the system, and"},{"speaker":"Jon de Wet","startTime":1925.46,"endTime":1928.7,"body":"stimulus that, frankly, is not"},{"speaker":"Jon de Wet","startTime":1928.7,"endTime":1931.94,"body":"backed by any real assets right"},{"speaker":"Jon de Wet","startTime":1928.7,"endTime":1931.94,"body":"after the gold standard"},{"speaker":"Jon de Wet","startTime":1931.94,"endTime":1937.82,"body":"disappeared last century. And"},{"speaker":"Jon de Wet","startTime":1931.94,"endTime":1937.82,"body":"then we look at it from the the"},{"speaker":"Jon de Wet","startTime":1937.82,"endTime":1941.03,"body":"macro perspective, and you just"},{"speaker":"Jon de Wet","startTime":1937.82,"endTime":1941.03,"body":"have to look around. So"},{"speaker":"Jon de Wet","startTime":1941.06,"endTime":1945.35,"body":"inflation now is actually really"},{"speaker":"Jon de Wet","startTime":1941.06,"endTime":1945.35,"body":"starting to take hold. And, you"},{"speaker":"Jon de Wet","startTime":1945.35,"endTime":1950.54,"body":"know, you've got the Fed saying"},{"speaker":"Jon de Wet","startTime":1945.35,"endTime":1950.54,"body":"that inflation at the moment is"},{"speaker":"Jon de Wet","startTime":1950.54,"endTime":1953.84,"body":"transient. And we're not going"},{"speaker":"Jon de Wet","startTime":1950.54,"endTime":1953.84,"body":"to be seeing large scale"},{"speaker":"Jon de Wet","startTime":1953.84,"endTime":1957.92,"body":"inflation over the next year or"},{"speaker":"Jon de Wet","startTime":1953.84,"endTime":1957.92,"body":"two. But you just have to look"},{"speaker":"Jon de Wet","startTime":1957.92,"endTime":1962.39,"body":"around like we went to the shops"},{"speaker":"Jon de Wet","startTime":1957.92,"endTime":1962.39,"body":"yesterday, and stuff is more"},{"speaker":"Jon de Wet","startTime":1962.39,"endTime":1965.18,"body":"expensive, you know, it's"},{"speaker":"Jon de Wet","startTime":1962.39,"endTime":1965.18,"body":"happening year on year, and you"},{"speaker":"Jon de Wet","startTime":1965.18,"endTime":1968.39,"body":"can't flood the system with this"},{"speaker":"Jon de Wet","startTime":1965.18,"endTime":1968.39,"body":"kind of liquidity and fiscal"},{"speaker":"Jon de Wet","startTime":1968.39,"endTime":1971.84,"body":"stimulus without seeing rises in"},{"speaker":"Jon de Wet","startTime":1968.39,"endTime":1971.84,"body":"prices. You combine that with"},{"speaker":"Jon de Wet","startTime":1971.84,"endTime":1974.84,"body":"supply chain shortages, and all"},{"speaker":"Jon de Wet","startTime":1971.84,"endTime":1974.84,"body":"of a sudden, you've got a macro"},{"speaker":"Jon de Wet","startTime":1974.84,"endTime":1979.61,"body":"environment, where risk assets"},{"speaker":"Jon de Wet","startTime":1974.84,"endTime":1979.61,"body":"correlate, and you really"},{"speaker":"Jon de Wet","startTime":1979.61,"endTime":1983.57,"body":"struggle to find good hedges."},{"speaker":"Jon de Wet","startTime":1979.61,"endTime":1983.57,"body":"Now, I don't think the markets"},{"speaker":"Jon de Wet","startTime":1983.57,"endTime":1987.38,"body":"actually pricing in inflation"},{"speaker":"Jon de Wet","startTime":1983.57,"endTime":1987.38,"body":"yet, you know, there are some"},{"speaker":"Jon de Wet","startTime":1987.38,"endTime":1990.08,"body":"value stocks starting a term"},{"speaker":"Jon de Wet","startTime":1987.38,"endTime":1990.08,"body":"we've got commodities starting"},{"speaker":"Jon de Wet","startTime":1990.08,"endTime":1994.49,"body":"to move. But until inflation"},{"speaker":"Jon de Wet","startTime":1990.08,"endTime":1994.49,"body":"really takes hold, and people"},{"speaker":"Jon de Wet","startTime":1994.49,"endTime":1998.24,"body":"are paying seven or eight bucks"},{"speaker":"Jon de Wet","startTime":1994.49,"endTime":1998.24,"body":"for a carton of milk, I think"},{"speaker":"Jon de Wet","startTime":1998.24,"endTime":2002.08,"body":"that's when it's really going to"},{"speaker":"Jon de Wet","startTime":1998.24,"endTime":2002.08,"body":"move. So Bitcoin from a"},{"speaker":"Jon de Wet","startTime":2002.35,"endTime":2005.68,"body":"macroeconomic perspective makes"},{"speaker":"Jon de Wet","startTime":2002.35,"endTime":2005.68,"body":"perfect sense because it's a"},{"speaker":"Jon de Wet","startTime":2005.68,"endTime":2009.55,"body":"hedge against that inflationary"},{"speaker":"Jon de Wet","startTime":2005.68,"endTime":2009.55,"body":"element of money that we spoke"},{"speaker":"Jon de Wet","startTime":2009.55,"endTime":2013.93,"body":"about before and inflation in"},{"speaker":"Jon de Wet","startTime":2009.55,"endTime":2013.93,"body":"society. All of that has an"},{"speaker":"Jon de Wet","startTime":2013.93,"endTime":2017.29,"body":"Umbrella Movement of"},{"speaker":"Jon de Wet","startTime":2013.93,"endTime":2017.29,"body":"institutions investing, you"},{"speaker":"Jon de Wet","startTime":2017.29,"endTime":2019.84,"body":"know, we're gonna get more ETFs"},{"speaker":"Jon de Wet","startTime":2017.29,"endTime":2019.84,"body":"coming out, and they're going to"},{"speaker":"Jon de Wet","startTime":2019.84,"endTime":2024.7,"body":"be retail access points. So this"},{"speaker":"Jon de Wet","startTime":2019.84,"endTime":2024.7,"body":"has really been our thesis, you"},{"speaker":"Jon de Wet","startTime":2024.7,"endTime":2028.45,"body":"know, there's an unbelievable"},{"speaker":"Jon de Wet","startTime":2024.7,"endTime":2028.45,"body":"foundation for this asset into"},{"speaker":"Jon de Wet","startTime":2028.45,"endTime":2032.23,"body":"the future. And it's still is"},{"speaker":"Jon de Wet","startTime":2028.45,"endTime":2032.23,"body":"really, you know, at the moment,"},{"speaker":"Jon de Wet","startTime":2032.23,"endTime":2035.05,"body":"it's still at, it's under a"},{"speaker":"Jon de Wet","startTime":2032.23,"endTime":2035.05,"body":"trillion dollar as an asset"},{"speaker":"Jon de Wet","startTime":2035.05,"endTime":2040.18,"body":"class. It's still outperformed"},{"speaker":"Jon de Wet","startTime":2035.05,"endTime":2040.18,"body":"from a market cap perspective by"},{"speaker":"Jon de Wet","startTime":2040.18,"endTime":2043.78,"body":"Apple and very large companies"},{"speaker":"Jon de Wet","startTime":2040.18,"endTime":2043.78,"body":"out there. And we really see"},{"speaker":"Jon de Wet","startTime":2043.78,"endTime":2048.58,"body":"this as a fundamental financial"},{"speaker":"Jon de Wet","startTime":2043.78,"endTime":2048.58,"body":"system that is still underpriced"},{"speaker":"Jon de Wet","startTime":2048.58,"endTime":2051.43,"body":"and still holds long, great"},{"speaker":"Jon de Wet","startTime":2048.58,"endTime":2051.43,"body":"value in the medium to long"},{"speaker":"Jon de Wet","startTime":2051.43,"endTime":2051.79,"body":"term."},{"speaker":"Matt Zahab","startTime":2052.5,"endTime":2054.48,"body":"That was a great"},{"speaker":"Matt Zahab","startTime":2052.5,"endTime":2054.48,"body":"spiel there. Thank you for that."},{"speaker":"Matt Zahab","startTime":2055.08,"endTime":2059.82,"body":"Also I agree with everything you"},{"speaker":"Matt Zahab","startTime":2055.08,"endTime":2059.82,"body":"just said and me firsthand, I"},{"speaker":"Matt Zahab","startTime":2059.88,"endTime":2062.94,"body":"bought a steak a couple days ago"},{"speaker":"Matt Zahab","startTime":2059.88,"endTime":2062.94,"body":"well, not me but I'm in"},{"speaker":"Matt Zahab","startTime":2062.94,"endTime":2064.77,"body":"quarantine right now because"},{"speaker":"Matt Zahab","startTime":2062.94,"endTime":2064.77,"body":"that's what happens when you go"},{"speaker":"Matt Zahab","startTime":2064.77,"endTime":2068.01,"body":"back to Canada mandatory two"},{"speaker":"Matt Zahab","startTime":2064.77,"endTime":2068.01,"body":"week government quarantine."},{"speaker":"Matt Zahab","startTime":2068.01,"endTime":2073.14,"body":"Thank you Trudeau. But someone"},{"speaker":"Matt Zahab","startTime":2068.01,"endTime":2073.14,"body":"bought a steak for me and"},{"speaker":"Matt Zahab","startTime":2073.14,"endTime":2077.34,"body":"brought to the house and that"},{"speaker":"Matt Zahab","startTime":2073.14,"endTime":2077.34,"body":"steak would have been $13,"},{"speaker":"Matt Zahab","startTime":2077.37,"endTime":2083.1,"body":"decent cut of beef last year and"},{"speaker":"Matt Zahab","startTime":2077.37,"endTime":2083.1,"body":"it was a $24 steak. I'm pretty"},{"speaker":"Matt Zahab","startTime":2083.1,"endTime":2086.13,"body":"sure it was on sale too. And"},{"speaker":"Matt Zahab","startTime":2083.1,"endTime":2086.13,"body":"that's just one aspect of the"},{"speaker":"Matt Zahab","startTime":2086.13,"endTime":2089.19,"body":"supply chain beef. So I"},{"speaker":"Matt Zahab","startTime":2086.13,"endTime":2089.19,"body":"completely agree with you. I"},{"speaker":"Matt Zahab","startTime":2089.19,"endTime":2091.65,"body":"can't wait to go to the grocery"},{"speaker":"Matt Zahab","startTime":2089.19,"endTime":2091.65,"body":"store again. Been in quarantine"},{"speaker":"Matt Zahab","startTime":2091.65,"endTime":2093.45,"body":"haven't had the chance, but"},{"speaker":"Matt Zahab","startTime":2091.65,"endTime":2093.45,"body":"can't wait to go to the grocery"},{"speaker":"Matt Zahab","startTime":2093.45,"endTime":2097.44,"body":"store and check out the prices"},{"speaker":"Matt Zahab","startTime":2093.45,"endTime":2097.44,"body":"it's gonna blow my socks off."},{"speaker":"Matt Zahab","startTime":2097.92,"endTime":2101.76,"body":"Bitcoin is extremely volatile,"},{"speaker":"Matt Zahab","startTime":2097.92,"endTime":2101.76,"body":"as we all know, and that is part"},{"speaker":"Matt Zahab","startTime":2101.82,"endTime":2105.51,"body":"of the barrier to entry. If you"},{"speaker":"Matt Zahab","startTime":2101.82,"endTime":2105.51,"body":"can put on the big boy and big"},{"speaker":"Matt Zahab","startTime":2105.51,"endTime":2109.56,"body":"girl pants and put up with the"},{"speaker":"Matt Zahab","startTime":2105.51,"endTime":2109.56,"body":"volatility, you have access to"},{"speaker":"Matt Zahab","startTime":2109.56,"endTime":2113.22,"body":"an asset class that is up on"},{"speaker":"Matt Zahab","startTime":2109.56,"endTime":2113.22,"body":"average, I believe 200% a year,"},{"speaker":"Matt Zahab","startTime":2113.22,"endTime":2116.19,"body":"which is definitely enough to"},{"speaker":"Matt Zahab","startTime":2113.22,"endTime":2116.19,"body":"write home about. With that"},{"speaker":"Matt Zahab","startTime":2116.19,"endTime":2119.4,"body":"being said, Bitcoin took an"},{"speaker":"Matt Zahab","startTime":2116.19,"endTime":2119.4,"body":"absolute shit over the last, you"},{"speaker":"Matt Zahab","startTime":2119.4,"endTime":2122.49,"body":"know, month and over the last"},{"speaker":"Matt Zahab","startTime":2119.4,"endTime":2122.49,"body":"week has gone back up to the 40k"},{"speaker":"Matt Zahab","startTime":2122.49,"endTime":2125.22,"body":"mark. I don't know if either"},{"speaker":"Matt Zahab","startTime":2122.49,"endTime":2125.22,"body":"Ryan or john, let's take this"},{"speaker":"Matt Zahab","startTime":2125.22,"endTime":2128.4,"body":"question. But if you have any"},{"speaker":"Matt Zahab","startTime":2125.22,"endTime":2128.4,"body":"idea of why it went from about"},{"speaker":"Matt Zahab","startTime":2128.4,"endTime":2132.69,"body":"60k USD to 30 and now back up to"},{"speaker":"Matt Zahab","startTime":2128.4,"endTime":2132.69,"body":"40 if you have any technical"},{"speaker":"Matt Zahab","startTime":2132.69,"endTime":2135.72,"body":"analysis, qual, quan you name"},{"speaker":"Matt Zahab","startTime":2132.69,"endTime":2135.72,"body":"it. Anything you have for me,"},{"speaker":"Matt Zahab","startTime":2135.78,"endTime":2137.76,"body":"I'm all ears. I'd love to know"},{"speaker":"Matt Zahab","startTime":2135.78,"endTime":2137.76,"body":"what are your thoughts on that?"},{"speaker":"Jon de Wet","startTime":2139.08,"endTime":2143.64,"body":"The most basic"},{"speaker":"Jon de Wet","startTime":2139.08,"endTime":2143.64,"body":"answer right to this, i'd"},{"speaker":"Jon de Wet","startTime":2143.64,"endTime":2147.24,"body":"stepped into an Uber the other"},{"speaker":"Jon de Wet","startTime":2143.64,"endTime":2147.24,"body":"day like a couple of weeks ago."},{"speaker":"Jon de Wet","startTime":2147.75,"endTime":2150.9,"body":"And my Uber driver told me to"},{"speaker":"Jon de Wet","startTime":2147.75,"endTime":2150.9,"body":"buy Dogecoin."},{"speaker":"Matt Zahab","startTime":2153.15,"endTime":2157.11,"body":"I love this theory,"},{"speaker":"Matt Zahab","startTime":2153.15,"endTime":2157.11,"body":"and this theory is so true at"},{"speaker":"Matt Zahab","startTime":2157.17,"endTime":2160.65,"body":"time and time again. Okay, keep"},{"speaker":"Matt Zahab","startTime":2157.17,"endTime":2160.65,"body":"sorry, all you keep going?"},{"speaker":"Jon de Wet","startTime":2160.83,"endTime":2163.38,"body":"No, you know it"},{"speaker":"Jon de Wet","startTime":2160.83,"endTime":2163.38,"body":"right. So Jesse Livermore"},{"speaker":"Jon de Wet","startTime":2163.38,"endTime":2166.17,"body":"reminiscence of a stock"},{"speaker":"Jon de Wet","startTime":2163.38,"endTime":2166.17,"body":"operator. I think it was from"},{"speaker":"Jon de Wet","startTime":2166.17,"endTime":2169.74,"body":"this book, actually. But um,"},{"speaker":"Jon de Wet","startTime":2166.17,"endTime":2169.74,"body":"yeah, he sold all of these"},{"speaker":"Jon de Wet","startTime":2169.74,"endTime":2174.24,"body":"stocks just before the big crash"},{"speaker":"Jon de Wet","startTime":2169.74,"endTime":2174.24,"body":"early in the 20th century,"},{"speaker":"Jon de Wet","startTime":2174.51,"endTime":2179.13,"body":"because his hairdressers were"},{"speaker":"Jon de Wet","startTime":2174.51,"endTime":2179.13,"body":"basically telling him to buy"},{"speaker":"Jon de Wet","startTime":2179.13,"endTime":2179.76,"body":"stocks heard"},{"speaker":"Ryan McCall","startTime":2179.76,"endTime":2182.25,"body":"I've heard the same"},{"speaker":"Ryan McCall","startTime":2179.76,"endTime":2182.25,"body":"story, actually from apparently"},{"speaker":"Ryan McCall","startTime":2182.25,"endTime":2187.83,"body":"was Joseph Kennedy, who said"},{"speaker":"Ryan McCall","startTime":2182.25,"endTime":2187.83,"body":"that his shoe shiner was telling"},{"speaker":"Ryan McCall","startTime":2187.83,"endTime":2190.2,"body":"him what stocks to buy. Yeah,"},{"speaker":"Ryan McCall","startTime":2187.83,"endTime":2190.2,"body":"but it's the same thing, right?"},{"speaker":"Jon de Wet","startTime":2190.0,"endTime":2193.15,"body":"It's the same thing."},{"speaker":"Jon de Wet","startTime":2190.0,"endTime":2193.15,"body":"And we've got mania and hype."},{"speaker":"Jon de Wet","startTime":2193.3,"endTime":2197.5,"body":"And you know, like, when, when"},{"speaker":"Jon de Wet","startTime":2193.3,"endTime":2197.5,"body":"you've got an insane amount of,"},{"speaker":"Jon de Wet","startTime":2197.56,"endTime":2202.63,"body":"you know, in quotation marks,"},{"speaker":"Jon de Wet","startTime":2197.56,"endTime":2202.63,"body":"weekend's or investors that are"},{"speaker":"Jon de Wet","startTime":2202.99,"endTime":2208.33,"body":"coming in on leverage, and"},{"speaker":"Jon de Wet","startTime":2202.99,"endTime":2208.33,"body":"basically, not prepared for"},{"speaker":"Jon de Wet","startTime":2208.33,"endTime":2211.45,"body":"downside moves, you get"},{"speaker":"Jon de Wet","startTime":2208.33,"endTime":2211.45,"body":"liquidity cascades. And it's a"},{"speaker":"Jon de Wet","startTime":2211.45,"endTime":2214.42,"body":"real shame, you know, I said, we"},{"speaker":"Jon de Wet","startTime":2211.45,"endTime":2214.42,"body":"were talking as a team the other"},{"speaker":"Jon de Wet","startTime":2214.42,"endTime":2219.7,"body":"day, I would have loved Bitcoin"},{"speaker":"Jon de Wet","startTime":2214.42,"endTime":2219.7,"body":"to have gone from 5000 bucks to"},{"speaker":"Jon de Wet","startTime":2219.7,"endTime":2226.72,"body":"20,000 bucks over the last year,"},{"speaker":"Jon de Wet","startTime":2219.7,"endTime":2226.72,"body":"just a steady growth curve. You"},{"speaker":"Jon de Wet","startTime":2227.68,"endTime":2231.13,"body":"know, people would be swinging"},{"speaker":"Jon de Wet","startTime":2227.68,"endTime":2231.13,"body":"from the bleachers on what a"},{"speaker":"Jon de Wet","startTime":2231.13,"endTime":2233.8,"body":"great asset This is, but"},{"speaker":"Jon de Wet","startTime":2231.13,"endTime":2233.8,"body":"instead, you know, the media's"},{"speaker":"Jon de Wet","startTime":2233.8,"endTime":2237.64,"body":"kind of turn now a little and"},{"speaker":"Jon de Wet","startTime":2233.8,"endTime":2237.64,"body":"the crypto markets melting down,"},{"speaker":"Jon de Wet","startTime":2237.64,"endTime":2241.75,"body":"and bitcoins got no value"},{"speaker":"Jon de Wet","startTime":2237.64,"endTime":2241.75,"body":"anymore. You know, so the"},{"speaker":"Jon de Wet","startTime":2241.75,"endTime":2244.48,"body":"reality is, when you get a huge"},{"speaker":"Jon de Wet","startTime":2241.75,"endTime":2244.48,"body":"inflow of that unleveraged"},{"speaker":"Jon de Wet","startTime":2244.48,"endTime":2248.14,"body":"capital, when you do start to"},{"speaker":"Jon de Wet","startTime":2244.48,"endTime":2248.14,"body":"get downside or getting overly"},{"speaker":"Jon de Wet","startTime":2248.17,"endTime":2253.0,"body":"long market, you then get a"},{"speaker":"Jon de Wet","startTime":2248.17,"endTime":2253.0,"body":"squeeze, right? And that's what"},{"speaker":"Jon de Wet","startTime":2253.0,"endTime":2256.36,"body":"we saw. And, you know, I don't"},{"speaker":"Jon de Wet","startTime":2253.0,"endTime":2256.36,"body":"want to use the word contagion."},{"speaker":"Jon de Wet","startTime":2256.36,"endTime":2259.96,"body":"But when you look at the alt"},{"speaker":"Jon de Wet","startTime":2256.36,"endTime":2259.96,"body":"coin market, when it started to"},{"speaker":"Jon de Wet","startTime":2259.96,"endTime":2263.02,"body":"move, you know, then we started"},{"speaker":"Jon de Wet","startTime":2259.96,"endTime":2263.02,"body":"to see Bitcoin and Ethereum"},{"speaker":"Jon de Wet","startTime":2263.02,"endTime":2267.61,"body":"start to go because people start"},{"speaker":"Jon de Wet","startTime":2263.02,"endTime":2267.61,"body":"to hedge. And there's basically"},{"speaker":"Jon de Wet","startTime":2267.61,"endTime":2271.3,"body":"outflows. The move is"},{"speaker":"Jon de Wet","startTime":2267.61,"endTime":2271.3,"body":"exacerbated, because then all"},{"speaker":"Jon de Wet","startTime":2271.3,"endTime":2275.02,"body":"stop losses start getting here."},{"speaker":"Jon de Wet","startTime":2271.3,"endTime":2275.02,"body":"And, you know, I think we had"},{"speaker":"Jon de Wet","startTime":2275.02,"endTime":2280.81,"body":"like, just on the 11th, we had"},{"speaker":"Jon de Wet","startTime":2275.02,"endTime":2280.81,"body":"like 11 billion in, what was, no"},{"speaker":"Jon de Wet","startTime":2280.81,"endTime":2287.35,"body":"500 billion in liquidations. So"},{"speaker":"Jon de Wet","startTime":2280.81,"endTime":2287.35,"body":"there was just a lot in one day,"},{"speaker":"Jon de Wet","startTime":2287.35,"endTime":2290.23,"body":"you know, and that tends to lead"},{"speaker":"Jon de Wet","startTime":2287.35,"endTime":2290.23,"body":"to exacerbated moves to the"},{"speaker":"Jon de Wet","startTime":2290.23,"endTime":2290.95,"body":"downside."},{"speaker":"Ryan McCall","startTime":2291.86,"endTime":2293.48,"body":"It's important,"},{"speaker":"Ryan McCall","startTime":2291.86,"endTime":2293.48,"body":"though, you know, the way that"},{"speaker":"Ryan McCall","startTime":2293.48,"endTime":2298.88,"body":"we talk to our investors about"},{"speaker":"Ryan McCall","startTime":2293.48,"endTime":2298.88,"body":"this, you know, Bitcoin and"},{"speaker":"Ryan McCall","startTime":2298.91,"endTime":2302.33,"body":"other cryptocurrencies,"},{"speaker":"Ryan McCall","startTime":2298.91,"endTime":2302.33,"body":"generally are a medium to long"},{"speaker":"Ryan McCall","startTime":2302.33,"endTime":2306.89,"body":"term investment. So, yes, there"},{"speaker":"Ryan McCall","startTime":2302.33,"endTime":2306.89,"body":"are short term volatility. But,"},{"speaker":"Ryan McCall","startTime":2306.89,"endTime":2310.07,"body":"you know, coming back to what we"},{"speaker":"Ryan McCall","startTime":2306.89,"endTime":2310.07,"body":"were talking about earlier, and"},{"speaker":"Ryan McCall","startTime":2310.07,"endTime":2315.62,"body":"how Bitcoin and other cryptos"},{"speaker":"Ryan McCall","startTime":2310.07,"endTime":2315.62,"body":"fit into a portfolio. But over"},{"speaker":"Ryan McCall","startTime":2315.62,"endTime":2319.46,"body":"the long term, it actually"},{"speaker":"Ryan McCall","startTime":2315.62,"endTime":2319.46,"body":"reduces volatility in a"},{"speaker":"Ryan McCall","startTime":2319.46,"endTime":2322.91,"body":"portfolio because it's an"},{"speaker":"Ryan McCall","startTime":2319.46,"endTime":2322.91,"body":"uncorrelated asset class, you"},{"speaker":"Ryan McCall","startTime":2322.91,"endTime":2325.88,"body":"know, so you don't want a"},{"speaker":"Ryan McCall","startTime":2322.91,"endTime":2325.88,"body":"portfolio full of things that"},{"speaker":"Ryan McCall","startTime":2325.88,"endTime":2329.06,"body":"are all moving in the same"},{"speaker":"Ryan McCall","startTime":2325.88,"endTime":2329.06,"body":"direction at the same time. And"},{"speaker":"Ryan McCall","startTime":2329.06,"endTime":2331.97,"body":"you can also reduce volatility,"},{"speaker":"Ryan McCall","startTime":2329.06,"endTime":2331.97,"body":"just by reducing your position"},{"speaker":"Ryan McCall","startTime":2331.97,"endTime":2335.24,"body":"sizing, and that's why, you"},{"speaker":"Ryan McCall","startTime":2331.97,"endTime":2335.24,"body":"know, as jon said earlier that"},{"speaker":"Ryan McCall","startTime":2335.24,"endTime":2340.13,"body":"number is around 5%, in terms"},{"speaker":"Ryan McCall","startTime":2335.24,"endTime":2340.13,"body":"of, you know, your overall"},{"speaker":"Ryan McCall","startTime":2340.34,"endTime":2344.21,"body":"allocation. So, yeah, it's taken"},{"speaker":"Ryan McCall","startTime":2340.34,"endTime":2344.21,"body":"a beating, you know, over the"},{"speaker":"Ryan McCall","startTime":2344.21,"endTime":2348.53,"body":"last month or so. But again, the"},{"speaker":"Ryan McCall","startTime":2344.21,"endTime":2348.53,"body":"fundamentals haven't changed."},{"speaker":"Ryan McCall","startTime":2348.53,"endTime":2352.07,"body":"So, yeah, we shouldn't be making"},{"speaker":"Ryan McCall","startTime":2348.53,"endTime":2352.07,"body":"any knee jerk reactions."},{"speaker":"Matt Zahab","startTime":2352.4,"endTime":2356.51,"body":"No God no. And yeah,"},{"speaker":"Matt Zahab","startTime":2352.4,"endTime":2356.51,"body":"just to echo your point there."},{"speaker":"Matt Zahab","startTime":2356.51,"endTime":2359.54,"body":"Paul Tudor Jones also just said"},{"speaker":"Matt Zahab","startTime":2356.51,"endTime":2359.54,"body":"that Bitcoin allocation and"},{"speaker":"Matt Zahab","startTime":2359.54,"endTime":2364.55,"body":"everyone's portfolio should now"},{"speaker":"Matt Zahab","startTime":2359.54,"endTime":2364.55,"body":"rise from 1% to 5%. And when"},{"speaker":"Matt Zahab","startTime":2364.55,"endTime":2368.21,"body":"you're with a couple bill that"},{"speaker":"Matt Zahab","startTime":2364.55,"endTime":2368.21,"body":"5% is a lot more than my measly"},{"speaker":"Matt Zahab","startTime":2368.21,"endTime":2375.83,"body":"5%. So good for ptj hope he"},{"speaker":"Matt Zahab","startTime":2368.21,"endTime":2375.83,"body":"keeps on the Bitcoin train. This"},{"speaker":"Matt Zahab","startTime":2375.83,"endTime":2379.16,"body":"recent price rise is obviously"},{"speaker":"Matt Zahab","startTime":2375.83,"endTime":2379.16,"body":"great. Everyone in the space"},{"speaker":"Matt Zahab","startTime":2379.22,"endTime":2382.58,"body":"loves to see this when Bitcoin"},{"speaker":"Matt Zahab","startTime":2379.22,"endTime":2382.58,"body":"rises. Everything else usually"},{"speaker":"Matt Zahab","startTime":2382.58,"endTime":2384.8,"body":"does. It's just great for the"},{"speaker":"Matt Zahab","startTime":2382.58,"endTime":2384.8,"body":"market. Nothing better for the"},{"speaker":"Matt Zahab","startTime":2384.8,"endTime":2389.63,"body":"market. But Are you guys"},{"speaker":"Matt Zahab","startTime":2384.8,"endTime":2389.63,"body":"familiar with the stock to flow"},{"speaker":"Matt Zahab","startTime":2389.63,"endTime":2393.92,"body":"model by I believe it's 100"},{"speaker":"Matt Zahab","startTime":2389.63,"endTime":2393.92,"body":"trillion USD, that is his symbol"},{"speaker":"Matt Zahab","startTime":2393.92,"endTime":2395.72,"body":"on Twitter. You guys familiar"},{"speaker":"Matt Zahab","startTime":2393.92,"endTime":2395.72,"body":"with that model?"},{"speaker":"Ryan McCall","startTime":2395.75,"endTime":2396.38,"body":"Yeah."},{"speaker":"Matt Zahab","startTime":2396.98,"endTime":2399.59,"body":"And have you seen"},{"speaker":"Matt Zahab","startTime":2396.98,"endTime":2399.59,"body":"it's going back on track. We"},{"speaker":"Matt Zahab","startTime":2399.59,"endTime":2403.55,"body":"were almost out of it when It"},{"speaker":"Matt Zahab","startTime":2399.59,"endTime":2403.55,"body":"hit about 30k USD right back up"},{"speaker":"Matt Zahab","startTime":2403.55,"endTime":2406.13,"body":"to the 40. And it actually"},{"speaker":"Matt Zahab","startTime":2403.55,"endTime":2406.13,"body":"followed that little dip and"},{"speaker":"Matt Zahab","startTime":2406.13,"endTime":2409.22,"body":"it's going right back up. My"},{"speaker":"Matt Zahab","startTime":2406.13,"endTime":2409.22,"body":"question for you, too, is where"},{"speaker":"Matt Zahab","startTime":2409.22,"endTime":2412.88,"body":"do you see Bitcoin at the end of"},{"speaker":"Matt Zahab","startTime":2409.22,"endTime":2412.88,"body":"2021? And will we hit 100k? By"},{"speaker":"Matt Zahab","startTime":2412.88,"endTime":2413.54,"body":"the end of the year?"},{"speaker":"Jon de Wet","startTime":2413.84,"endTime":2416.03,"body":"Yeah, it's"},{"speaker":"Jon de Wet","startTime":2413.84,"endTime":2416.03,"body":"interesting, you know, we've"},{"speaker":"Jon de Wet","startTime":2416.03,"endTime":2420.68,"body":"followed the stock to flow model"},{"speaker":"Jon de Wet","startTime":2416.03,"endTime":2420.68,"body":"fairly closely. It's"},{"speaker":"Jon de Wet","startTime":2420.68,"endTime":2423.65,"body":"traditionally used in the"},{"speaker":"Jon de Wet","startTime":2420.68,"endTime":2423.65,"body":"commodity space, right? So it's"},{"speaker":"Jon de Wet","startTime":2423.65,"endTime":2427.55,"body":"looking at, for your viewers, or"},{"speaker":"Jon de Wet","startTime":2423.65,"endTime":2427.55,"body":"listeners who don't know, it"},{"speaker":"Jon de Wet","startTime":2427.55,"endTime":2430.79,"body":"looks at the production output"},{"speaker":"Jon de Wet","startTime":2427.55,"endTime":2430.79,"body":"curve, like the rate of"},{"speaker":"Jon de Wet","startTime":2430.79,"endTime":2434.51,"body":"production of an asset. So if"},{"speaker":"Jon de Wet","startTime":2430.79,"endTime":2434.51,"body":"you look at gold, that's how"},{"speaker":"Jon de Wet","startTime":2434.51,"endTime":2439.13,"body":"much gold is actually pulled out"},{"speaker":"Jon de Wet","startTime":2434.51,"endTime":2439.13,"body":"the ground every year as a"},{"speaker":"Jon de Wet","startTime":2439.13,"endTime":2444.77,"body":"function of the total amount of"},{"speaker":"Jon de Wet","startTime":2439.13,"endTime":2444.77,"body":"gold in supply. So with Bitcoin,"},{"speaker":"Jon de Wet","startTime":2444.8,"endTime":2448.88,"body":"right, that starts to flow model"},{"speaker":"Jon de Wet","startTime":2444.8,"endTime":2448.88,"body":"actually becomes more scarce"},{"speaker":"Jon de Wet","startTime":2448.88,"endTime":2451.85,"body":"every four years, because the"},{"speaker":"Jon de Wet","startTime":2448.88,"endTime":2451.85,"body":"production supplies halved,"},{"speaker":"Jon de Wet","startTime":2452.18,"endTime":2457.91,"body":"every four years. So, you know,"},{"speaker":"Jon de Wet","startTime":2452.18,"endTime":2457.91,"body":"I think it's a hugely valuable"},{"speaker":"Jon de Wet","startTime":2457.91,"endTime":2461.09,"body":"mathematical value proposition,"},{"speaker":"Jon de Wet","startTime":2457.91,"endTime":2461.09,"body":"really, because it's"},{"speaker":"Jon de Wet","startTime":2461.09,"endTime":2464.6,"body":"mathematically designed to"},{"speaker":"Jon de Wet","startTime":2461.09,"endTime":2464.6,"body":"become more scarce over time."},{"speaker":"Jon de Wet","startTime":2465.17,"endTime":2467.18,"body":"And I think a lot of people miss"},{"speaker":"Jon de Wet","startTime":2465.17,"endTime":2467.18,"body":"that. It's like, oh, they'll"},{"speaker":"Jon de Wet","startTime":2467.18,"endTime":2471.2,"body":"only be 21 million in"},{"speaker":"Jon de Wet","startTime":2467.18,"endTime":2471.2,"body":"circulation. That's true. But"},{"speaker":"Jon de Wet","startTime":2471.2,"endTime":2474.29,"body":"they'll actually be less"},{"speaker":"Jon de Wet","startTime":2471.2,"endTime":2474.29,"body":"produced every year, all the way"},{"speaker":"Jon de Wet","startTime":2474.29,"endTime":2479.3,"body":"up to that 21 million points or"},{"speaker":"Jon de Wet","startTime":2474.29,"endTime":2479.3,"body":"less mined every year. Where"},{"speaker":"Jon de Wet","startTime":2479.3,"endTime":2482.78,"body":"does this leave us to the end of"},{"speaker":"Jon de Wet","startTime":2479.3,"endTime":2482.78,"body":"the year? Okay, so, earlier this"},{"speaker":"Jon de Wet","startTime":2482.78,"endTime":2488.48,"body":"year, I put out a statement with"},{"speaker":"Jon de Wet","startTime":2482.78,"endTime":2488.48,"body":"our investors that Bitcoin would"},{"speaker":"Jon de Wet","startTime":2488.48,"endTime":2492.02,"body":"hit, sorry, it was actually in"},{"speaker":"Jon de Wet","startTime":2488.48,"endTime":2492.02,"body":"September last year, I said"},{"speaker":"Jon de Wet","startTime":2492.02,"endTime":2495.98,"body":"Bitcoin, I think it was Bitcoin"},{"speaker":"Jon de Wet","startTime":2492.02,"endTime":2495.98,"body":"would hit 50,000 by the first"},{"speaker":"Jon de Wet","startTime":2495.98,"endTime":2499.37,"body":"half of the year and 100 grand"},{"speaker":"Jon de Wet","startTime":2495.98,"endTime":2499.37,"body":"by the end of the year. So I hit"},{"speaker":"Jon de Wet","startTime":2499.37,"endTime":2505.64,"body":"the first milestone. I was in"},{"speaker":"Jon de Wet","startTime":2499.37,"endTime":2505.64,"body":"terms of what would have to"},{"speaker":"Jon de Wet","startTime":2505.64,"endTime":2508.67,"body":"happen now for it to hit the"},{"speaker":"Jon de Wet","startTime":2505.64,"endTime":2508.67,"body":"100,000 towards the end of the"},{"speaker":"Jon de Wet","startTime":2508.67,"endTime":2511.4,"body":"year? Well, I think we need a"},{"speaker":"Jon de Wet","startTime":2508.67,"endTime":2511.4,"body":"combination of three things."},{"speaker":"Jon de Wet","startTime":2512.03,"endTime":2515.63,"body":"Fundamentally, we need some"},{"speaker":"Jon de Wet","startTime":2512.03,"endTime":2515.63,"body":"really strong news flow. Now"},{"speaker":"Jon de Wet","startTime":2515.63,"endTime":2520.43,"body":"that El Salvador news is huge,"},{"speaker":"Jon de Wet","startTime":2515.63,"endTime":2520.43,"body":"by the way. And if we weren't in"},{"speaker":"Jon de Wet","startTime":2520.43,"endTime":2523.19,"body":"a current little blow off, I"},{"speaker":"Jon de Wet","startTime":2520.43,"endTime":2523.19,"body":"think it would actually be"},{"speaker":"Jon de Wet","startTime":2523.19,"endTime":2527.81,"body":"busting Bitcoin through all time"},{"speaker":"Jon de Wet","startTime":2523.19,"endTime":2527.81,"body":"highs, because this is like way"},{"speaker":"Jon de Wet","startTime":2527.81,"endTime":2532.67,"body":"beyond Treasury. This is like a"},{"speaker":"Jon de Wet","startTime":2527.81,"endTime":2532.67,"body":"country that's essentially"},{"speaker":"Jon de Wet","startTime":2532.67,"endTime":2540.59,"body":"adopting this as part of their"},{"speaker":"Jon de Wet","startTime":2532.67,"endTime":2540.59,"body":"economic makeup. If we get a few"},{"speaker":"Jon de Wet","startTime":2540.59,"endTime":2546.59,"body":"more fundamental news items like"},{"speaker":"Jon de Wet","startTime":2540.59,"endTime":2546.59,"body":"that, this year that really show"},{"speaker":"Jon de Wet","startTime":2546.59,"endTime":2550.88,"body":"long term sustained fundamental"},{"speaker":"Jon de Wet","startTime":2546.59,"endTime":2550.88,"body":"growth. That's the flow in my"},{"speaker":"Jon de Wet","startTime":2550.88,"endTime":2553.88,"body":"view. Then you want to see"},{"speaker":"Jon de Wet","startTime":2550.88,"endTime":2553.88,"body":"things like on chain data will"},{"speaker":"Jon de Wet","startTime":2554.6,"endTime":2557.75,"body":"really start to move. So"},{"speaker":"Jon de Wet","startTime":2554.6,"endTime":2557.75,"body":"exchanges, outflow from"},{"speaker":"Jon de Wet","startTime":2557.75,"endTime":2562.01,"body":"exchanges, indicators, like the"},{"speaker":"Jon de Wet","startTime":2557.75,"endTime":2562.01,"body":"number of active Bitcoin"},{"speaker":"Jon de Wet","startTime":2562.01,"endTime":2567.11,"body":"addresses start to change. And"},{"speaker":"Jon de Wet","startTime":2562.01,"endTime":2567.11,"body":"then I think the final kicker to"},{"speaker":"Jon de Wet","startTime":2567.11,"endTime":2570.14,"body":"really get it above 100 grand"},{"speaker":"Jon de Wet","startTime":2567.11,"endTime":2570.14,"body":"would be the inflation"},{"speaker":"Jon de Wet","startTime":2570.14,"endTime":2574.16,"body":"narrative. So from a macro"},{"speaker":"Jon de Wet","startTime":2570.14,"endTime":2574.16,"body":"perspective, if we start to see"},{"speaker":"Jon de Wet","startTime":2574.22,"endTime":2579.95,"body":"inflation really kick over the"},{"speaker":"Jon de Wet","startTime":2574.22,"endTime":2579.95,"body":"next six months, and the Fed and"},{"speaker":"Jon de Wet","startTime":2579.95,"endTime":2582.68,"body":"other central banks with"},{"speaker":"Jon de Wet","startTime":2579.95,"endTime":2582.68,"body":"generally follow the old, good"},{"speaker":"Jon de Wet","startTime":2582.68,"endTime":2586.04,"body":"old fed reserve, if they start"},{"speaker":"Jon de Wet","startTime":2582.68,"endTime":2586.04,"body":"turning around and saying, Hey,"},{"speaker":"Jon de Wet","startTime":2586.04,"endTime":2590.57,"body":"we were wrong, this could not be"},{"speaker":"Jon de Wet","startTime":2586.04,"endTime":2590.57,"body":"transient, and were tapering"},{"speaker":"Jon de Wet","startTime":2590.57,"endTime":2594.92,"body":"stimulus and raising rates. I"},{"speaker":"Jon de Wet","startTime":2590.57,"endTime":2594.92,"body":"think that will be the kicker"},{"speaker":"Jon de Wet","startTime":2594.95,"endTime":2600.38,"body":"together above 100 grand. So"},{"speaker":"Jon de Wet","startTime":2594.95,"endTime":2600.38,"body":"really, you need a congruence of"},{"speaker":"Jon de Wet","startTime":2600.41,"endTime":2605.96,"body":"factors at play for those kind"},{"speaker":"Jon de Wet","startTime":2600.41,"endTime":2605.96,"body":"of inflows to get above 100k."},{"speaker":"Jon de Wet","startTime":2606.23,"endTime":2610.46,"body":"Through I feel the same way that"},{"speaker":"Jon de Wet","startTime":2606.23,"endTime":2610.46,"body":"I did in January this year. You"},{"speaker":"Jon de Wet","startTime":2610.46,"endTime":2615.17,"body":"know, like any blow off, you get"},{"speaker":"Jon de Wet","startTime":2610.46,"endTime":2615.17,"body":"a little beaten up."},{"speaker":"Matt Zahab","startTime":2617.21,"endTime":2619.4,"body":"A couple bruises on"},{"speaker":"Matt Zahab","startTime":2617.21,"endTime":2619.4,"body":"the knees. Yeah."},{"speaker":"Jon de Wet","startTime":2619.61,"endTime":2624.35,"body":"So I think we'll go"},{"speaker":"Jon de Wet","startTime":2619.61,"endTime":2624.35,"body":"above all time highs again. But"},{"speaker":"Jon de Wet","startTime":2624.35,"endTime":2628.58,"body":"I think we would need a"},{"speaker":"Jon de Wet","startTime":2624.35,"endTime":2628.58,"body":"congruence of those factors to"},{"speaker":"Jon de Wet","startTime":2628.58,"endTime":2632.96,"body":"get above 100 grand by the end"},{"speaker":"Jon de Wet","startTime":2628.58,"endTime":2632.96,"body":"of the year. I'm still a betting"},{"speaker":"Jon de Wet","startTime":2632.96,"endTime":2637.64,"body":"man. So I'm saying yes. But it's"},{"speaker":"Jon de Wet","startTime":2632.96,"endTime":2637.64,"body":"not as bad as it was this year."},{"speaker":"Jon de Wet","startTime":2637.67,"endTime":2638.06,"body":"Yeah."},{"speaker":"Matt Zahab","startTime":2639.07,"endTime":2640.09,"body":"That was one of the"},{"speaker":"Matt Zahab","startTime":2639.07,"endTime":2640.09,"body":"things."},{"speaker":"Ryan McCall","startTime":2641.679,"endTime":2645.099,"body":"I think it's"},{"speaker":"Ryan McCall","startTime":2641.679,"endTime":2645.099,"body":"falling for around about 85 or"},{"speaker":"Ryan McCall","startTime":2645.099,"endTime":2652.119,"body":"maybe 90 by the end of this"},{"speaker":"Ryan McCall","startTime":2645.099,"endTime":2652.119,"body":"year. So you know, if that model"},{"speaker":"Ryan McCall","startTime":2652.119,"endTime":2656.049,"body":"continues to ring true, then"},{"speaker":"Ryan McCall","startTime":2652.119,"endTime":2656.049,"body":"yeah, we're going to get pretty"},{"speaker":"Ryan McCall","startTime":2656.049,"endTime":2657.399,"body":"close to 100k this year."},{"speaker":"Matt Zahab","startTime":2657.96,"endTime":2661.11,"body":"That was just great."},{"speaker":"Matt Zahab","startTime":2657.96,"endTime":2661.11,"body":"I want to go back there and"},{"speaker":"Matt Zahab","startTime":2661.11,"endTime":2665.52,"body":"touch on the second point. And"},{"speaker":"Matt Zahab","startTime":2661.11,"endTime":2665.52,"body":"that was on chain metrics. Can"},{"speaker":"Matt Zahab","startTime":2665.52,"endTime":2668.4,"body":"you go into a little bit more"},{"speaker":"Matt Zahab","startTime":2665.52,"endTime":2668.4,"body":"about that? Because you hear"},{"speaker":"Matt Zahab","startTime":2668.4,"endTime":2672.0,"body":"that term? And you see that term"},{"speaker":"Matt Zahab","startTime":2668.4,"endTime":2672.0,"body":"on Twitter, you know, on CT"},{"speaker":"Matt Zahab","startTime":2672.0,"endTime":2675.48,"body":"crypto Twitter all over the"},{"speaker":"Matt Zahab","startTime":2672.0,"endTime":2675.48,"body":"place, on chain metrics, this on"},{"speaker":"Matt Zahab","startTime":2675.48,"endTime":2677.85,"body":"chain metrics that. Wow I can't"},{"speaker":"Matt Zahab","startTime":2675.48,"endTime":2677.85,"body":"even speak, that's a little bit"},{"speaker":"Matt Zahab","startTime":2677.85,"endTime":2680.67,"body":"of a tongue twister, but can you"},{"speaker":"Matt Zahab","startTime":2677.85,"endTime":2680.67,"body":"just give our listeners a brief"},{"speaker":"Matt Zahab","startTime":2680.67,"endTime":2683.85,"body":"explanation of what people mean"},{"speaker":"Matt Zahab","startTime":2680.67,"endTime":2683.85,"body":"when they talk about on chain"},{"speaker":"Matt Zahab","startTime":2683.85,"endTime":2686.88,"body":"metrics and why it's such an"},{"speaker":"Matt Zahab","startTime":2683.85,"endTime":2686.88,"body":"important sort of aspect to look"},{"speaker":"Matt Zahab","startTime":2686.88,"endTime":2687.15,"body":"at?"},{"speaker":"Jon de Wet","startTime":2687.51,"endTime":2691.32,"body":"Sure. So the"},{"speaker":"Jon de Wet","startTime":2687.51,"endTime":2691.32,"body":"blockchain is a public facing"},{"speaker":"Jon de Wet","startTime":2691.35,"endTime":2694.65,"body":"chain, obviously, right? So you"},{"speaker":"Jon de Wet","startTime":2691.35,"endTime":2694.65,"body":"can look at chains of"},{"speaker":"Jon de Wet","startTime":2694.65,"endTime":2698.64,"body":"transactions and get real"},{"speaker":"Jon de Wet","startTime":2694.65,"endTime":2698.64,"body":"insights around the flow of"},{"speaker":"Jon de Wet","startTime":2698.64,"endTime":2702.3,"body":"Bitcoin. So when you look at"},{"speaker":"Jon de Wet","startTime":2698.64,"endTime":2702.3,"body":"unchained metrics, you look at"},{"speaker":"Jon de Wet","startTime":2702.3,"endTime":2707.43,"body":"how active wallet addresses are"},{"speaker":"Jon de Wet","startTime":2702.3,"endTime":2707.43,"body":"you. A lot of the data now can"},{"speaker":"Jon de Wet","startTime":2707.43,"endTime":2713.19,"body":"point to exchanges. So you can"},{"speaker":"Jon de Wet","startTime":2707.43,"endTime":2713.19,"body":"figure out how large the volume"},{"speaker":"Jon de Wet","startTime":2713.19,"endTime":2718.32,"body":"of unchained movement is into"},{"speaker":"Jon de Wet","startTime":2713.19,"endTime":2718.32,"body":"and out of exchanges. And what's"},{"speaker":"Jon de Wet","startTime":2718.32,"endTime":2723.99,"body":"interesting about this is when"},{"speaker":"Jon de Wet","startTime":2718.32,"endTime":2723.99,"body":"you look at big OTC desks or the"},{"speaker":"Jon de Wet","startTime":2723.99,"endTime":2730.77,"body":"flow of liquidity, when there's"},{"speaker":"Jon de Wet","startTime":2723.99,"endTime":2730.77,"body":"potential indicator, which has"},{"speaker":"Jon de Wet","startTime":2730.77,"endTime":2736.26,"body":"been really consistent in the"},{"speaker":"Jon de Wet","startTime":2730.77,"endTime":2736.26,"body":"past, of selling pressure is a"},{"speaker":"Jon de Wet","startTime":2736.26,"endTime":2740.28,"body":"sudden inflow of Bitcoin or"},{"speaker":"Jon de Wet","startTime":2736.26,"endTime":2740.28,"body":"Ethereum, to exchanges. And the"},{"speaker":"Jon de Wet","startTime":2740.28,"endTime":2743.58,"body":"reasoning is exchanges, get"},{"speaker":"Jon de Wet","startTime":2740.28,"endTime":2743.58,"body":"hacked, right. So people are not"},{"speaker":"Jon de Wet","startTime":2743.58,"endTime":2747.54,"body":"putting Bitcoin on an exchange"},{"speaker":"Jon de Wet","startTime":2743.58,"endTime":2747.54,"body":"just to hold it there. But"},{"speaker":"Jon de Wet","startTime":2747.54,"endTime":2749.61,"body":"they'll hold it on their cold"},{"speaker":"Jon de Wet","startTime":2747.54,"endTime":2749.61,"body":"wallet or insurance"},{"speaker":"Jon de Wet","startTime":2749.61,"endTime":2752.88,"body":"infrastructure, if they're just"},{"speaker":"Jon de Wet","startTime":2749.61,"endTime":2752.88,"body":"going to hold. So if there's an"},{"speaker":"Jon de Wet","startTime":2752.88,"endTime":2756.15,"body":"inflow on exchanges, that can be"},{"speaker":"Jon de Wet","startTime":2752.88,"endTime":2756.15,"body":"an indicator of short to medium"},{"speaker":"Jon de Wet","startTime":2756.15,"endTime":2760.41,"body":"term, bearish moves, because"},{"speaker":"Jon de Wet","startTime":2756.15,"endTime":2760.41,"body":"there's potential selling. And"},{"speaker":"Jon de Wet","startTime":2760.41,"endTime":2763.8,"body":"the same goes for outflows from"},{"speaker":"Jon de Wet","startTime":2760.41,"endTime":2763.8,"body":"exchanges. So you can measure"},{"speaker":"Jon de Wet","startTime":2763.8,"endTime":2767.49,"body":"that you can also measure things"},{"speaker":"Jon de Wet","startTime":2763.8,"endTime":2767.49,"body":"like wallets that hold above"},{"speaker":"Jon de Wet","startTime":2767.52,"endTime":2772.71,"body":"10,000 Bitcoin, right, that"},{"speaker":"Jon de Wet","startTime":2767.52,"endTime":2772.71,"body":"haven't moved in seven years. If"},{"speaker":"Jon de Wet","startTime":2772.71,"endTime":2776.16,"body":"those start moving, you know,"},{"speaker":"Jon de Wet","startTime":2772.71,"endTime":2776.16,"body":"there's and there's a trend of"},{"speaker":"Jon de Wet","startTime":2776.16,"endTime":2780.33,"body":"really large whales starting to"},{"speaker":"Jon de Wet","startTime":2776.16,"endTime":2780.33,"body":"move assets, you know, begs the"},{"speaker":"Jon de Wet","startTime":2780.33,"endTime":2784.77,"body":"question as to why. Most of the"},{"speaker":"Jon de Wet","startTime":2780.33,"endTime":2784.77,"body":"time, they're not moving it"},{"speaker":"Jon de Wet","startTime":2784.8,"endTime":2788.79,"body":"because they just want to move"},{"speaker":"Jon de Wet","startTime":2784.8,"endTime":2788.79,"body":"custody providers. That kind of"},{"speaker":"Jon de Wet","startTime":2788.79,"endTime":2794.88,"body":"movement can indicate a"},{"speaker":"Jon de Wet","startTime":2788.79,"endTime":2794.88,"body":"potential to sell in the short"},{"speaker":"Jon de Wet","startTime":2794.88,"endTime":2798.33,"body":"to medium term. So there are"},{"speaker":"Jon de Wet","startTime":2794.88,"endTime":2798.33,"body":"some great provider data"},{"speaker":"Jon de Wet","startTime":2798.33,"endTime":2802.56,"body":"providers now, glass nodes, one"},{"speaker":"Jon de Wet","startTime":2798.33,"endTime":2802.56,"body":"that we look at really often"},{"speaker":"Jon de Wet","startTime":2803.49,"endTime":2807.27,"body":"that you can map out, you know,"},{"speaker":"Jon de Wet","startTime":2803.49,"endTime":2807.27,"body":"how active addresses are the"},{"speaker":"Jon de Wet","startTime":2807.27,"endTime":2811.32,"body":"movement of funds between really"},{"speaker":"Jon de Wet","startTime":2807.27,"endTime":2811.32,"body":"large wallets, how much fun is"},{"speaker":"Jon de Wet","startTime":2811.32,"endTime":2814.11,"body":"actually going on to exchanges."},{"speaker":"Jon de Wet","startTime":2811.32,"endTime":2814.11,"body":"And that can give some great"},{"speaker":"Jon de Wet","startTime":2814.11,"endTime":2816.27,"body":"insight into short and medium"},{"speaker":"Jon de Wet","startTime":2814.11,"endTime":2816.27,"body":"term moves."},{"speaker":"Matt Zahab","startTime":2816.72,"endTime":2819.72,"body":"Again, just"},{"speaker":"Matt Zahab","startTime":2816.72,"endTime":2819.72,"body":"incredible. We have a transcript"},{"speaker":"Matt Zahab","startTime":2819.72,"endTime":2822.6,"body":"of every single episode on the"},{"speaker":"Matt Zahab","startTime":2819.72,"endTime":2822.6,"body":"podcast, and I'm definitely"},{"speaker":"Matt Zahab","startTime":2822.6,"endTime":2825.33,"body":"going to - I always listen to"},{"speaker":"Matt Zahab","startTime":2822.6,"endTime":2825.33,"body":"every episode, I try to read"},{"speaker":"Matt Zahab","startTime":2825.33,"endTime":2828.75,"body":"every one but I always listen to"},{"speaker":"Matt Zahab","startTime":2825.33,"endTime":2828.75,"body":"every episode. And I'm going to"},{"speaker":"Matt Zahab","startTime":2828.75,"endTime":2831.3,"body":"read this one as well, because"},{"speaker":"Matt Zahab","startTime":2828.75,"endTime":2831.3,"body":"you've provided so many golden"},{"speaker":"Matt Zahab","startTime":2831.3,"endTime":2836.46,"body":"nuggets for the average Joe or"},{"speaker":"Matt Zahab","startTime":2831.3,"endTime":2836.46,"body":"Jose like me at home, to really"},{"speaker":"Matt Zahab","startTime":2836.58,"endTime":2841.98,"body":"study on. Is there a list on"},{"speaker":"Matt Zahab","startTime":2836.58,"endTime":2841.98,"body":"Zerocap where I can or resource"},{"speaker":"Matt Zahab","startTime":2841.98,"endTime":2845.55,"body":"center or learning hub where I"},{"speaker":"Matt Zahab","startTime":2841.98,"endTime":2845.55,"body":"can have access? Or at least you"},{"speaker":"Matt Zahab","startTime":2845.55,"endTime":2848.82,"body":"know, get sort of a bit of the"},{"speaker":"Matt Zahab","startTime":2845.55,"endTime":2848.82,"body":"secret sauce that you guys give?"},{"speaker":"Matt Zahab","startTime":2848.85,"endTime":2851.64,"body":"Like all the all the stuff"},{"speaker":"Matt Zahab","startTime":2848.85,"endTime":2851.64,"body":"you've just mentioned in last 50"},{"speaker":"Matt Zahab","startTime":2851.64,"endTime":2854.67,"body":"minutes? Is there a resource"},{"speaker":"Matt Zahab","startTime":2851.64,"endTime":2854.67,"body":"center where I can get access to"},{"speaker":"Matt Zahab","startTime":2854.67,"endTime":2855.0,"body":"this stuff?"},{"speaker":"Ryan McCall","startTime":2855.0,"endTime":2857.61,"body":"Yeah, definitely,"},{"speaker":"Ryan McCall","startTime":2855.0,"endTime":2857.61,"body":"we've got an insights section on"},{"speaker":"Ryan McCall","startTime":2857.61,"endTime":2860.73,"body":"the website. And we've also got"},{"speaker":"Ryan McCall","startTime":2857.61,"endTime":2860.73,"body":"a newsletter that you can sign"},{"speaker":"Ryan McCall","startTime":2860.73,"endTime":2865.83,"body":"up to there, where we publish"},{"speaker":"Ryan McCall","startTime":2860.73,"endTime":2865.83,"body":"your weekly market wrap, which"},{"speaker":"Ryan McCall","startTime":2865.83,"endTime":2872.85,"body":"is produced by our trading team,"},{"speaker":"Ryan McCall","startTime":2865.83,"endTime":2872.85,"body":"and overseen by john. So yeah,"},{"speaker":"Ryan McCall","startTime":2872.85,"endTime":2877.62,"body":"once a week, we publish just a"},{"speaker":"Ryan McCall","startTime":2872.85,"endTime":2877.62,"body":"bit of a roundup of news of"},{"speaker":"Ryan McCall","startTime":2877.62,"endTime":2880.65,"body":"what's happened over the last"},{"speaker":"Ryan McCall","startTime":2877.62,"endTime":2880.65,"body":"week, but then, you know,"},{"speaker":"Ryan McCall","startTime":2880.65,"endTime":2884.49,"body":"technical analysis and some of"},{"speaker":"Ryan McCall","startTime":2880.65,"endTime":2884.49,"body":"that on chain data that we just"},{"speaker":"Ryan McCall","startTime":2884.55,"endTime":2889.14,"body":"spoke about. And some things to"},{"speaker":"Ryan McCall","startTime":2884.55,"endTime":2889.14,"body":"look for, you know, over the"},{"speaker":"Ryan McCall","startTime":2889.14,"endTime":2895.02,"body":"coming weeks and months. We do"},{"speaker":"Ryan McCall","startTime":2889.14,"endTime":2895.02,"body":"also put together some some"},{"speaker":"Ryan McCall","startTime":2895.02,"endTime":2898.14,"body":"articles and research pieces"},{"speaker":"Ryan McCall","startTime":2895.02,"endTime":2898.14,"body":"that we publish, you know, once"},{"speaker":"Ryan McCall","startTime":2898.14,"endTime":2903.57,"body":"or twice a week just on, you"},{"speaker":"Ryan McCall","startTime":2898.14,"endTime":2903.57,"body":"know, various interesting topics"},{"speaker":"Ryan McCall","startTime":2903.57,"endTime":2907.44,"body":"or, you know, education pieces."},{"speaker":"Ryan McCall","startTime":2903.57,"endTime":2907.44,"body":"You know, like when there's"},{"speaker":"Ryan McCall","startTime":2907.44,"endTime":2910.2,"body":"things that happened like"},{"speaker":"Ryan McCall","startTime":2907.44,"endTime":2910.2,"body":"adoption in El Salvador, you"},{"speaker":"Ryan McCall","startTime":2910.2,"endTime":2913.8,"body":"know, we'll talk about that and"},{"speaker":"Ryan McCall","startTime":2910.2,"endTime":2913.8,"body":"what we think the implications"},{"speaker":"Ryan McCall","startTime":2913.83,"endTime":2914.46,"body":"of that are"},{"speaker":"Matt Zahab","startTime":2916.07,"endTime":2920.15,"body":"Amazing. Gentlemen,"},{"speaker":"Matt Zahab","startTime":2916.07,"endTime":2920.15,"body":"this has been really insightful."},{"speaker":"Matt Zahab","startTime":2920.15,"endTime":2925.28,"body":"I really appreciate both your"},{"speaker":"Matt Zahab","startTime":2920.15,"endTime":2925.28,"body":"time. And wow, just always love,"},{"speaker":"Matt Zahab","startTime":2925.31,"endTime":2927.59,"body":"absolutely adore conversations"},{"speaker":"Matt Zahab","startTime":2925.31,"endTime":2927.59,"body":"like this because I learned so"},{"speaker":"Matt Zahab","startTime":2927.59,"endTime":2931.01,"body":"much and you know it almost, not"},{"speaker":"Matt Zahab","startTime":2927.59,"endTime":2931.01,"body":"almost, it does fire me up. And"},{"speaker":"Matt Zahab","startTime":2931.01,"endTime":2935.18,"body":"I just want to learn after this."},{"speaker":"Matt Zahab","startTime":2931.01,"endTime":2935.18,"body":"And I thank you for that, I"},{"speaker":"Matt Zahab","startTime":2935.18,"endTime":2940.28,"body":"sincerely do. Before we depart,"},{"speaker":"Matt Zahab","startTime":2935.18,"endTime":2940.28,"body":"any questions for me? Or is"},{"speaker":"Matt Zahab","startTime":2940.28,"endTime":2942.86,"body":"there anything that I can help"},{"speaker":"Matt Zahab","startTime":2940.28,"endTime":2942.86,"body":"you with? Anything you'd like to"},{"speaker":"Matt Zahab","startTime":2942.86,"endTime":2943.19,"body":"know?"},{"speaker":"Ryan McCall","startTime":2944.84,"endTime":2950.3,"body":"So yeah, like just"},{"speaker":"Ryan McCall","startTime":2944.84,"endTime":2950.3,"body":"get yourself out of isolation"},{"speaker":"Ryan McCall","startTime":2950.3,"endTime":2954.02,"body":"there and jump on a plane down"},{"speaker":"Ryan McCall","startTime":2950.3,"endTime":2954.02,"body":"to Melbourne and then we can see"},{"speaker":"Ryan McCall","startTime":2954.02,"endTime":2955.07,"body":"how many pints you can drink?"},{"speaker":"Matt Zahab","startTime":2958.16,"endTime":2961.19,"body":"You have my word. I"},{"speaker":"Matt Zahab","startTime":2958.16,"endTime":2961.19,"body":"do have a couple buddies there"},{"speaker":"Matt Zahab","startTime":2961.19,"endTime":2964.76,"body":"that I would absolutely love to"},{"speaker":"Matt Zahab","startTime":2961.19,"endTime":2964.76,"body":"see. But yes, that will be done."},{"speaker":"Matt Zahab","startTime":2964.76,"endTime":2972.92,"body":"I have two vaccines and I think"},{"speaker":"Matt Zahab","startTime":2964.76,"endTime":2972.92,"body":"in the last three weeks, up to"},{"speaker":"Matt Zahab","startTime":2972.92,"endTime":2977.24,"body":"five negative COVID tests as per"},{"speaker":"Matt Zahab","startTime":2972.92,"endTime":2977.24,"body":"requirements for the lovely"},{"speaker":"Matt Zahab","startTime":2977.24,"endTime":2982.64,"body":"Government of Canada. So I am"},{"speaker":"Matt Zahab","startTime":2977.24,"endTime":2982.64,"body":"100% COVID free but still in"},{"speaker":"Matt Zahab","startTime":2982.64,"endTime":2986.27,"body":"quarantine. And you can't win"},{"speaker":"Matt Zahab","startTime":2982.64,"endTime":2986.27,"body":"them all. I'm also about 100"},{"speaker":"Matt Zahab","startTime":2986.27,"endTime":2989.48,"body":"meters away from one of the"},{"speaker":"Matt Zahab","startTime":2986.27,"endTime":2989.48,"body":"nicest golf courses in Ontario"},{"speaker":"Matt Zahab","startTime":2989.48,"endTime":2993.2,"body":"and I'm just sort of drooling"},{"speaker":"Matt Zahab","startTime":2989.48,"endTime":2993.2,"body":"every time when I look over at"},{"speaker":"Matt Zahab","startTime":2993.2,"endTime":2995.96,"body":"it so you can't win them all."},{"speaker":"Matt Zahab","startTime":2993.2,"endTime":2995.96,"body":"But gentlemen, it was absolutely"},{"speaker":"Matt Zahab","startTime":2995.96,"endTime":2998.21,"body":"great having you on. Before we"},{"speaker":"Matt Zahab","startTime":2995.96,"endTime":2998.21,"body":"let you go can you please tell"},{"speaker":"Matt Zahab","startTime":2998.21,"endTime":3003.34,"body":"our listeners where they can"},{"speaker":"Matt Zahab","startTime":2998.21,"endTime":3003.34,"body":"find you, each respectively on"},{"speaker":"Matt Zahab","startTime":3003.34,"endTime":3005.83,"body":"social and where they can find"},{"speaker":"Matt Zahab","startTime":3003.34,"endTime":3005.83,"body":"zero cap on social."},{"speaker":"Ryan McCall","startTime":3005.92,"endTime":3009.76,"body":"Yeah. So you can"},{"speaker":"Ryan McCall","startTime":3005.92,"endTime":3009.76,"body":"find us at zerocap.com. From"},{"speaker":"Ryan McCall","startTime":3009.76,"endTime":3013.39,"body":"there you can find links to all"},{"speaker":"Ryan McCall","startTime":3009.76,"endTime":3013.39,"body":"our socials. We're pretty active"},{"speaker":"Ryan McCall","startTime":3013.75,"endTime":3018.79,"body":"on LinkedIn. And you'll see us"},{"speaker":"Ryan McCall","startTime":3013.75,"endTime":3018.79,"body":"putting out some more content on"},{"speaker":"Ryan McCall","startTime":3019.03,"endTime":3022.3,"body":"Twitter and YouTube soon, but"},{"speaker":"Ryan McCall","startTime":3019.03,"endTime":3022.3,"body":"zerocap.com is where you can"},{"speaker":"Ryan McCall","startTime":3022.3,"endTime":3023.53,"body":"find all those insights."},{"speaker":"Matt Zahab","startTime":3023.74,"endTime":3025.3,"body":"What about socials"},{"speaker":"Matt Zahab","startTime":3023.74,"endTime":3025.3,"body":"for you to guys?"},{"speaker":"Ryan McCall","startTime":3025.0,"endTime":3028.69,"body":"Yeah, well, we're"},{"speaker":"Ryan McCall","startTime":3025.0,"endTime":3028.69,"body":"not super active, you know, on"},{"speaker":"Ryan McCall","startTime":3028.69,"endTime":3032.89,"body":"the socials, the twittersphere"},{"speaker":"Ryan McCall","startTime":3028.69,"endTime":3032.89,"body":"is a little bit noisy and"},{"speaker":"Ryan McCall","startTime":3032.89,"endTime":3038.23,"body":"aggressive. And, you know, we"},{"speaker":"Ryan McCall","startTime":3032.89,"endTime":3038.23,"body":"prefer to just publishing our"},{"speaker":"Ryan McCall","startTime":3038.23,"endTime":3041.68,"body":"material through, you know, the"},{"speaker":"Ryan McCall","startTime":3038.23,"endTime":3041.68,"body":"insights and the weekly market"},{"speaker":"Ryan McCall","startTime":3041.68,"endTime":3043.54,"body":"wrap that we were talking about"},{"speaker":"Ryan McCall","startTime":3041.68,"endTime":3043.54,"body":"earlier."},{"speaker":"Matt Zahab","startTime":3043.96,"endTime":3047.11,"body":"Hey, that works too."},{"speaker":"Matt Zahab","startTime":3043.96,"endTime":3047.11,"body":"That definitely works too. On a"},{"speaker":"Matt Zahab","startTime":3047.11,"endTime":3049.3,"body":"separate note, though, I would"},{"speaker":"Matt Zahab","startTime":3047.11,"endTime":3049.3,"body":"definitely follow you two. And"},{"speaker":"Matt Zahab","startTime":3049.57,"endTime":3051.61,"body":"there's not a doubt in my mind"},{"speaker":"Matt Zahab","startTime":3049.57,"endTime":3051.61,"body":"both, you would get up to that"},{"speaker":"Matt Zahab","startTime":3051.61,"endTime":3054.67,"body":"five digit follower mark within"},{"speaker":"Matt Zahab","startTime":3051.61,"endTime":3054.67,"body":"a couple months if you started"},{"speaker":"Matt Zahab","startTime":3054.67,"endTime":3061.15,"body":"buzzing on Twitter. Ryan and"},{"speaker":"Matt Zahab","startTime":3054.67,"endTime":3061.15,"body":"jon, absolute pleasure, really"},{"speaker":"Matt Zahab","startTime":3061.15,"endTime":3063.97,"body":"appreciate you guys coming on. I"},{"speaker":"Matt Zahab","startTime":3061.15,"endTime":3063.97,"body":"learned a lot and had a blast,"},{"speaker":"Matt Zahab","startTime":3063.97,"endTime":3066.04,"body":"and I hope you did too. So thank"},{"speaker":"Matt Zahab","startTime":3063.97,"endTime":3066.04,"body":"you for that much."},{"speaker":"Ryan McCall","startTime":3066.31,"endTime":3067.81,"body":"It was great, Matt."},{"speaker":"Ryan McCall","startTime":3066.31,"endTime":3067.81,"body":"Really appreciate it."},{"speaker":"Jon de Wet","startTime":3067.84,"endTime":3069.61,"body":"Good on you, Matt."},{"speaker":"Jon de Wet","startTime":3067.84,"endTime":3069.61,"body":"Thanks. Hey, let's start again"},{"speaker":"Jon de Wet","startTime":3069.61,"endTime":3069.97,"body":"soon."},{"speaker":"Matt Zahab","startTime":3070.12,"endTime":3075.16,"body":"100%. Folks, this"},{"speaker":"Matt Zahab","startTime":3070.12,"endTime":3075.16,"body":"was Ryan and Jon from zerocap. I"},{"speaker":"Matt Zahab","startTime":3075.16,"endTime":3078.64,"body":"had an absolute blast speaking"},{"speaker":"Matt Zahab","startTime":3075.16,"endTime":3078.64,"body":"to them. And I hope you had a"},{"speaker":"Matt Zahab","startTime":3078.64,"endTime":3082.75,"body":"blast listening. As always, we"},{"speaker":"Matt Zahab","startTime":3078.64,"endTime":3082.75,"body":"drop on Monday, Wednesday and"},{"speaker":"Matt Zahab","startTime":3082.78,"endTime":3085.72,"body":"Friday mornings, that is Eastern"},{"speaker":"Matt Zahab","startTime":3082.78,"endTime":3085.72,"body":"time. If you're listening in"},{"speaker":"Matt Zahab","startTime":3085.72,"endTime":3089.44,"body":"Australia, it would be Tuesday,"},{"speaker":"Matt Zahab","startTime":3085.72,"endTime":3089.44,"body":"Thursday and Saturday mornings,"},{"speaker":"Matt Zahab","startTime":3089.83,"endTime":3092.38,"body":"or I guess evenings rather. But"},{"speaker":"Matt Zahab","startTime":3089.83,"endTime":3092.38,"body":"nonetheless, if you are"},{"speaker":"Matt Zahab","startTime":3092.38,"endTime":3094.24,"body":"listening, it would mean the"},{"speaker":"Matt Zahab","startTime":3092.38,"endTime":3094.24,"body":"world if you could subscribe to"},{"speaker":"Matt Zahab","startTime":3094.24,"endTime":3097.6,"body":"us. Appreciate you love you hope"},{"speaker":"Matt Zahab","startTime":3094.24,"endTime":3097.6,"body":"you have a wonderful rest of the"},{"speaker":"Matt Zahab","startTime":3097.6,"endTime":3101.23,"body":"day or week and we will see you"},{"speaker":"Matt Zahab","startTime":3097.6,"endTime":3101.23,"body":"all shortly. Thanks again and"},{"speaker":"Matt Zahab","startTime":3101.23,"endTime":3102.13,"body":"have a good one. Bye."}]}