Turning $1,200 into millions w/ Logjam | EP 63

Covering:

• Special guest Logjam: turning $1,200 into millions 
• Saylor buys another $1B of BTC
• Warren says CLARITY Act will blow up the economy 
• Is Polymarket and Kalshi this cycle's OpenSea? 
• The fall of James Wynn

And more.

Transcript

SPEAKER_00 0:00

Good afternoon. Welcome everyone. Risk on episode 63. Brought to you by FOMO. Go download it today. Promo code RISCON for 10% off all of your trading fees. Try out their web app today. Get on there. Go follow our guest today. We got Logjam on, legendary FOMO trader. Go check him out there. And yeah, what's up, guys? Welcome, Logjam. How are you today, man?

SPEAKER_03 0:32

Good, good. I appreciate you guys having me.

SPEAKER_00 0:35

Yeah. Thank you, of course. Anytime. Sath Swizzle, how are we? Good morning, folks.

SPEAKER_01 0:40

Good morning, brand new. Brand new. Another day in the market. Of course not. Of course not. So what a stupid stupid thing to say. Potentially.

SPEAKER_04 0:50

He's just got the he's just got the Capri Sun hangover wood. We were just talking before the show.

SPEAKER_01 0:57

Yeah. I think I power through two of them a day, guys. You know. That's why maybe I'm so sharp, you know.

SPEAKER_00 1:03

I see Capri Suns in two places. My four-year-old sons when he goes to birthday parties, and then sats on stream.

SPEAKER_01 1:12

You know, your son must be a smart guy, man. He must be tapped in. That's what I gotta say. He's an idiot. He's four. Oh shit. Look, he might look. The Capri Suns were talking to me and they were saying to me like last week, you know, like get bearish and shit. So, you know, here we are. Everyone was knee sliding Solana going up, and now it's down four percent on the day. You know, tough one. Tough one. Hate to be that guy who knee slides the bear move, but gonna be that guy.

SPEAKER_04 1:41

Log jumper, are you a Capri Sun drinker?

SPEAKER_03 1:44

You know, I gave that up a long time ago.

SPEAKER_04 1:48

So the reason I asked is my next question was are you a terminal trader? I'm trying to find the correlation between Capri-Sun consumption and uh axiom badges.

SPEAKER_03 1:59

So you might be onto something there. I'm a uh mobile only guy. Mobile only guy. Hell yeah.

SPEAKER_00 2:05

We like that. We like to hear you don't meet many people like that. You don't. I'm a mobile only guy too. I'm waiting I'm a raw dog jupe or FOMO guy.

SPEAKER_03 2:16

Yep, that's me too.

SPEAKER_00 2:17

Oh my god. Okay, I didn't know. I did not expect that. I did not expect that.

SPEAKER_04 2:22

Because there's a lot of uh there's a lot of stories going around the success stories of trading, and it's usually these guys who are I I recently found out there's literally lobbies, like they they structured all the new trading terminals. Like there's actual lobbies the same way you if you're playing Fortnite or Call of Duty, you're waiting with your friends, and then you go in and you PvP like a 30k microcap token. Um I apologize that I assumed this was your your method of spinning it up because I thought that's the only way you can win right now. I thought that was the only way you can win.

SPEAKER_03 2:55

No, uh quite the con uh excuse me, contrary. Um that sounds awful. I mean, sitting in the lobby getting ready to PvP your own friends. I can't really imagine doing that on a day-to-day basis. Damn, bro.

SPEAKER_01 3:09

I can't believe we got another mobile trader. We got literally another one of us, guys. This is great.

SPEAKER_00 3:14

This is great news, man.

SPEAKER_01 3:15

Maybe I'm lumping I'm lumping myself in there. Maybe I'm not falling into the street.

SPEAKER_00 3:19

You don't count in the way that Swiss and I do.

SPEAKER_01 3:21

Yeah, I don't think so.

SPEAKER_00 3:22

And and Logjam is from the sound.

SPEAKER_04 3:24

Yeah, group sets in because he doesn't do it, but he and he's an enabler, right? He's he's one of the guys that I don't even know, I haven't heard of any Pink Bunk Fun related in a couple months, but yeah, I more just tell people how to do it.

SPEAKER_01 3:38

You know, I just tell people how to do it and then leave them to their own, you know. I provide the tools and step back, you know. I provide the tools and uh let every folks everyone go crazy. Yeah, if if anyone asks me a question, I tell them how to do it, and that's all I say. Like, you know.

SPEAKER_00 3:54

What's interesting about you though is that you were saying uh pre-calls that you didn't start trading until like October 24, which is kind of when all the terminals and stuff were just getting started. So I'm surprised you didn't fall into that trap. Whereas like I've been around since last cycle and I started trading in Solana raw dogging on bird eye in 2023. So like I was just too lazy to ever adapt, but you had the tools in front of you, and you were like, no, this is just how I like to trade, or what happened? How did you become like us? Like lazy basically.

SPEAKER_03 4:25

Number one, I would say I'm not super technically savvy, so from that standpoint, like I tried Photon at one point in time to volume trade one day, and I lost thousands of dollars. I just couldn't compete, so I figured the way I'm gonna I'm gonna win is buying good coins and holding them longer than the average person, you know, at least trying to identify a good narrative, and that's what I've continued to do. And then I also work a full-time job, so I can't have a terminal up on my monitors in an office, you know, trading shit coins. So that was another reasoning as to why I would just do it on my phone. Wow. Wait, the neat the neat guy has a job, guys.

SPEAKER_01 5:12

Guys, what is going on? The neat guy has a neat job.

SPEAKER_04 5:15

I feel like you weren't supposed to admit that, right? It's kind of envy.

SPEAKER_03 5:19

It's actually, I thought we would get onto this topic. It's not a secret. I've I've talked about it multiple times on Twitter. Um I'm a broker, I'm in real estate. I need some deals to close before I can finally quit the job, not leaving the commission on the table. So let me be clear about that.

SPEAKER_01 5:37

Appending me, appending me. Appending me. That's not a secret.

SPEAKER_03 5:42

Otherwise, I wouldn't have said so. I'm not out here LARPing to be a full-time meat.

SPEAKER_00 5:47

Well, you're talking to to uh three guys who don't work, although I think Sats and Swizzle might be working soon. I am I I you know I I I take my kids for walks and we have the stay-at-home moms walking around the park together. So I am a I'm a full-time, I'm basically a full-time stay-at-home dad who who uh who does a podcast with them. So when I say that I'm an unemployed podcaster, I genuinely am an unemployed podcaster.

SPEAKER_03 6:10

Yeah, um you actually would said something pretty interesting the other day on one of your episodes. You kind of confirmed the neat thesis. I think you mentioned how you stopped working in an office in like 2020, and um you said it was like the best year of your life. I'm like, that's it, right there. I mean, that's the neat quint thesis.

SPEAKER_00 6:30

Like it's funny. I swizzle and Saskin attested this. I think like two weeks ago, I said I wanted to buy a lot of neat. Um but as a true neat, I was too lazy and never actually did it. But I do I do see uh the narrative there forming, and I think it can do well long term. Um what so um I might be joining you soon. TV great.

SPEAKER_04 6:55

So is is this like a I've seen obviously the meme coin for it, and I've seen like some people reference it on crypto Twitter. Is this like a bigger movement that like is this a thing that's getting memed around on TikTok? And like do people talk about this whole thing? Or is it kind of like a a crypto born joke?

SPEAKER_03 7:15

It's a crypto joke. People believe in it, right? But yeah, well, actually, it's not crypto born, it was a subculture on the internet on Reddit and then uh 4chan, other platforms, so it has pretty decent history. Um, you know, it I think it was a British term or acronym that the government created for obviously unemployed young people. Sounds British. Yeah, but young people are sort of gravitating towards this idea, you know, it's historically a negative connotation, but you know, they don't want traditional jobs, they'd rather, you know, like for example, trade full-time and you know not be in a nine to five every day. And that's kind of growing. I think that the coin is gonna push the movement, hopefully. I mean, that's kind of like the thesis behind it. Did AOC tweet about it once? Like yeah, she did she literally tweeted uh a screenshot of a neat tweet that said um normalize booing in the workplace or normalize booing your current co-work. That's a crazy AOC.

SPEAKER_01 8:12

That's a crazy AOC tweet. I remember seeing that one wow, bro. If this I remember seeing that, and I thought, you know, if this was 2024, if this was 2023, this shit would have exploded. It would have literally half a bill. Um yeah, it would have been insane, man. But yeah, I feel like oh you joined in October 2022, uh, 2024. I feel like you missed a lot of the good shit before that. What was your what was your like first trade? What was the breakout?

SPEAKER_03 8:41

Um, so my first trade on chain was uh Bert uh the dog. Stop it.

SPEAKER_00 8:51

We have a deep history with Bert in the show.

unknown 8:54

Yeah.

SPEAKER_04 8:56

Also, how also, how did you like stumble into crypto and you're like, you know, I don't know anything about crypto, but this Pomeranian kind of is intriguing to me. How in the world is that your first first trade that you made in this space?

SPEAKER_03 9:11

Let me be clear. Um, I had no fucking idea what I was doing. I actually I bought all the meme coins available on Coinbase first. So I guess you could classify that as my first trade. Like I bought Pepe, Dogecoin, Floki, and I made a thousand bucks in a week, and I was like, this is the greatest thing ever. So all of a sudden I'm I'm pure retail. I'm like, how do I how do I get on chain, make some trades? And uh I think it was Trader SE. I saw him tweeting about Bert and I bought like a thousand bucks, and then a week later I made like five grand, and all of a sudden I'm hooked. That's it.

SPEAKER_04 9:49

It is it is crazy how it goes like that because as people who've been in the space for a while were listening to this and like, oh my god, you were did not just tail like uh what's his name? Trader Burt, whatever. Trader S Z, Trader S Z. But but the reality is like that story you just described is literally like the normie onboarding experience that we all went through at one point in our own iteration based on whatever was happening during that timeline. And it's like it's kind of like this was the whole vision of hey, this is how the flow should work, and this is how you know millions and tens of millions of people are gonna get onboarded to trading on-chain. It's crazy that that you're actually kind of like a walking billboard for hey, it people who get onboarded this way, it's not just extraction and they're gonna, you know, get destroyed. It's like you actually were a success story where it's like this, you know, to the whole point you're talking about earlier, this is a thing that in today's modern day society like can be kind of like an escape from the nine to five, and like there's there is a lifestyle here that you know can be very lucrative if you uh if you like lean into it and spend some time learning the ropes and stuff, you know.

SPEAKER_03 11:01

Yeah, I I totally agree. And which is why I'm bullish on the future of on-chain trading, just because I don't see another opportunity to change a couple thousand bucks into six figures quickly. Um it obviously has a ton of issues it needs to work through right now, but I mean listening to you guys certainly doesn't help on a weekly basis. You guys are extremely bearish.

SPEAKER_02 11:24

We're a little bareholes, yeah. Yeah, we're a little bare hole.

SPEAKER_00 11:28

But I remember you thought fresh. No, you know, I think I I I I can't tell you how much I love that your first trade was BERT, by the way. That makes me so happy. It warms my heart. I don't know if you've seen Longjam, but I tweeted about it.

SPEAKER_03 11:43

That was probably your exit liquidity.

SPEAKER_00 11:45

No, I never I've never bought Bert in my life. I thought it was the most preposterous thing in the world. Um, and I still do because Trader SD, like Bitcoin will like be breaking down, and Trader SD will be like, oh, time it's uh time to buy BERT. Like Bitcoin can be breaking out. You know what's gonna happen next, Bert's gonna go up. He must own 80% of Bert. There's no other explanation. At least, at least it's supposed to why is the Bert going on?

SPEAKER_01 12:17

Yeah, why is the bird chart going on? Everyone talks about a bag walking, study this guy, bro. Study this guy.

SPEAKER_00 12:25

Yeah, so I think we we we we kind of forgot to preface you, Logjan. But anyway, so you you join October 2024. Um the end story is kind of the title of this is you turned small amount of money into a lot of money. Um I think you tweeted out last week. I think you've ran it ran it off from like 1k to like 1.2 million, 1.4 million at your peak, is that right?

SPEAKER_03 12:48

Yeah, I mean it fluctuates on the leaderboard, but like on the all-time FOMO, it's at like 1.1 right now.

SPEAKER_00 12:55

Yeah, yeah. And what I think is really cool about that is that you did this from January 26th to now. Is that right?

SPEAKER_03 13:03

Um no, this is oh yes, yes, correct.

SPEAKER_00 13:06

January 26th to now. Now, January 26th to now have been some of the hardest on-chain trading conditions we've had. Um like I've been crushed since like last summer, basically. Have not performed very well. I don't think Swizzle's done well. Um, I think Sats has maybe caught a trade or two. Yeah, here and there. Given it all back here and there. I've caught a trade or two as well, but I've given it. Well, Asteroid, and then you know, you did not catch asteroid, you're down on asteroid.

SPEAKER_01 13:32

No, no, I mean I yeah, that's what I mean. I I I lost all the games on asteroid. So losing the games on asteroids.

SPEAKER_00 13:39

And I think what's interesting is that the trenches have changed. Everyone has been talking about how the trenches have died, and how there's like people that are, you know, just bundling uh and then PvPing each other, bundle PvP. It's all new pairs. Nothing really has legs. Now there have been a few runners, um, but they're few and far between. You have just described yourself as a guy who trades only on mobile, only on Jupiter, and you're not like using photon or things like that. You're not you're you're not engaging in bundling, you're just an old-fashioned believer in coins. And you're kind of like walking proof of or uh living proof that like you can still make money in this market, which I think is really cool. So I guess quick rundown of where like I I guess you join October 20 and October 2024, kind of finish out the story of of then to now, uh, briefly for us.

SPEAKER_03 14:36

Sure. Um, so yeah, I made that burp trade which really piqued my interest in meme coins, and then uh oddly enough, the next buy was Chilguy, which I hit on pretty well. So my introduction to crypto was great, and then I you know spent the next few months actually losing about half my profits on Chilguy learning how to trench or you know trade these high volatility meme coins. Um and then come spring of 2025, I think everything started to retrace. I mean, Solano went under 100 bucks at one point, either April or May, and the conditions really dried up. So um it really made me focus in on like how am I gonna front-run narratives and actually find good coins prior to these guys who sit on line 24-7. Um so from May until last winter, so like December 2025, I was pretty locked in in the sense that I was going on other social platforms, you know, learning how to identify memes early. Um, I was more focused on that aspect, not like sitting on meme scope trying to high volume trade, you know, everything that comes in front of me. You know, I was trying to find memes on my own that were emerging, and then um, you know, that kind of became a skill over time, and then obviously I was able to perform in the little pockets of volume that we got since um like December through now. And a little luck was involved, but you know, I think I built a pretty good skill set throughout that time.

SPEAKER_00 16:18

Yeah, yeah. Yeah, I saw you hit penguin, which I hit penguin too. South Sizzle, did US hit Penguin?

SPEAKER_01 16:24

A little bit, so Ali. Um Classic. I think it's a good one.

SPEAKER_04 16:30

You know, I know you're being sorry, I was just gonna say, I know you're being humble and said like you got lucky. I this is you know, obviously we haven't talked about this a lot as market conditions have been tough and we've stayed away from a lot of the on-chain trading just because of the conditions and kind of the stuff going on with deployments and bundles and all that. So we don't like to talk about it a ton these days. But I I do think one of one of our recurring conversations we used to have is like when people perform not just one trade but on a consistent basis, like the way you have, it often gets mischaracterized as luck by the public, and it's so easy for people who don't understand the space or don't follow the space. And this could be for perps trading, this could be for meme coin trading, it could be really anything that exists on chain. Um I think it's a like a gross mischaracterization to say that it's luck. Because if it was luck, that's one trade, and then we've seen many people who hit one good trade and then they end up, you know, losing it all or you know, watching everything slow bleed. Volatility is part of it, and I think it takes obviously a massive amount of risk tolerance. So I'm curious like where you developed your stomach to your your appetite for stomaching risk and volatility. But like it's just really hard for me to look at what you've done because we were taking a look last night at like your portfolio growth. It wasn't like you know, there's use you've seen a few people who there's the story like, oh, they put$300 in and then they they made a million dollars off that trade, and that's the one trade they ever made. You've been like steadily growing this, and you've obviously had some really good months and some not as good months, but like it's hard to say it's luck when it's sustained performance, and again, you don't even realize probably how bad the conditions are. You haven't even seen an easy mode. Like like there everyone's a genius during a bull market, and you'll see so many people be able to turn small amounts into large amounts. To do what you're doing now is not luck. I I just I I I wouldn't believe that for a second. Um but I'm curious, like, as someone who you know you've worked in the real world, you have a normal job, like uh you I don't know if trading was part of your background with equity markets or whatever before, but what like has given you this ability to just absorb crazy volatility and be willing to stomach risk? Are you willing to put yourself out there when you believe in something and go all in on it? Like what like where did that originate from? Is that just something you you felt from day one, or have you been like growing into that as you've you know continued your on-chain trading trade?

SPEAKER_03 19:14

That's a really good question. Well, in terms of where I got the ability to stomach the risk, I think I actually have studied previous markets quite a bit and have seen a lot of what the great traders have done, you know, in good conditions. And um, you know, I think on a longer term basis. So like on the penguin trade specifically, like when you talk about luck, I I would classify it as maybe right place, right time, but like my execution of it was really good in the sense that I held longer than 99% of people, and then I fully exited around like 60 million. I bought it at 40k. So um you know, I've seen these stories of people turning a little into a lot just through holding and you know stomaching the volatility. So, in a sense, I feel like I've learned that from people who have done it previously, you know, and I've I've just studied that, you know. I don't really buy into the whole adapter dive thing right now. I mean for certain coins it it matters, but like if you're gonna hit a life-changing play, I feel like the blueprint's there. So, you know, that's the mindset I've taken. And um and I try to identify memes that have a long-term shelf life, and you know, for better or for worse, I'm gonna hold and see if it plays its course the way I think it does. I don't know if that answers your question.

SPEAKER_04 20:38

Do do some of the group chats you're in, like obviously not you're probably in a minority. There's probably a few others who trade more similarly to you, but I imagine a lot of people in the group chats you're in don't trade that way. And do you ever feel like you get pushback, like you get made fun of for holding things, or or you know, like uh told that you know advised you should do things differently or watch other people and question your trading behavior? Because I imagine it can't be a lot of people doing it that way in the amongst your peers who are trading on chain consistently right now.

SPEAKER_03 21:14

Um I think if you round trip and it doesn't work out, people will try to clown you in the sense of like you were up all that money, like you didn't sell, you greedy fuck. But it's like yeah, I'm trying to hit a pretty big play here. I'm not looking to flip a million coins into a million bucks. Like, I I want to hit some good quality size plays. I mean, that's that's my mindset. Um I don't know, everyone on Twitter has something to say. Since my account is blown up a little bit, I mean there you can't do anything right. There's always someone in my comments that is like trying to chirp at me for whatever reason. Um, you know, this goblin coin when it retraced five times before going like to 25 million, I was getting clowned for round tripping that. Which is just insane. So I again I just like that.

SPEAKER_04 22:06

Like, you know, if you hold for longer than two days, you're insane. Which is like, yeah, no no real uh like next leg of of price action can happen in that amount of time. Um it's interesting.

SPEAKER_03 22:22

Yeah.

SPEAKER_00 22:22

Um I think Swizzle was just projecting at you right now.

SPEAKER_03 22:26

Yeah, he's looking for someone to hold it.

SPEAKER_00 22:29

He was just describing everything.

SPEAKER_04 22:31

I'm asking for how like I'm no, I'm asking his because the thing is, like, we can obviously relate to this. Like, I think most people who have done really well in this space, in like historically, have been this mindset, and like, you know, we can speak from personal experience. Like, I yeah, I I can't tell you how many times I was clowned for overholding or bag holding useless, for example, right? But like I I sold late on it, and I still made how many more multiples than you know, however many people. Like they there's a mindset that it's like, oh, you shouldn't overhold. When in reality, even if you don't sell the top, like Log James sold Penguin at 60 million, it went up to 140 million, 150 million, whatever. There's a moment where everyone's like, you know, okay, he didn't time the exit well. It's like, well, he held it 99% longer than anyone else did, and then he didn't sell the exact top, and people are gonna probably comment on that part, and it's like, you know, the execution in itself, how perfect it is, doesn't matter if you nail the meat of the trade, right?

SPEAKER_02 23:37

Yeah, yeah.

SPEAKER_04 23:38

And that's what I'm kind of getting at is I think it's a rare skill, and and that's where I go back to like to me that doesn't seem like luck, um, what you're doing.

SPEAKER_01 23:48

Yeah. What was what was different about Penguin at 40k? Because at 40k, the narrative doesn't really exist, you know? Narrative is got sort of up in the wind. You might have seen a few TikToks. What is the sort of what is your your your thought process when you're buying Penguin at 40k and going, this is it? Or is it not this is it, this is this is a shot in the dark, and we're hoping it's the best it.

SPEAKER_03 24:10

No, it the narrative was there, man. Like I saw the video, and then this goes back to me actually developing a skill set for this, because you know, I kind of at this point had a pretty good eye for like what had a good opportunity to blow up. Um like that meme in itself, whether you knew it or not, was relatable. Like the symbolism of it's hilarious, right? It's like the penguin splits off from his his pack and like walks towards the mountains. It's like, okay, of course every crypto grow is gonna love this because you know they feel like they're doing something really important and against the grain. And uh it's it's funny because it's a little penguin, so you put two and two together, and then if you're looking through the comments on TikTok sections, and people are saying things along the lines of like, I've never been more moved by a video in my entire life. It's like okay, well, this is at 40k and this continues. Like, if a meme's relatable, they're gonna share it. You know, I think it's got some pretty good upside there. Um, I mean, I was tweeting about it from 40k all the way up to when I eventually sold, and it wasn't like oh, this is a quick flip. I mean, I was like, I love this meme.

SPEAKER_01 25:16

Yeah. Is that as you is that your thought process that you're going on TikTok, like looking at the comments and going like, look, this is a I feel like this is a shareable narrative. Is it a shareable meme what people are gonna relate to? Like, I think this is a good bet.

SPEAKER_03 25:28

Yeah, it was clearly like inflicting some emotion on people, so and it was different, right? It wasn't like uh I mean, it was just different from any coin or meme I'd seen in a while, so I think that was another signal as to why it might do well. It wasn't like your traditional, like funny animal coin, like moodang or something like that. Like it had a message behind it.

SPEAKER_01 25:52

Were you was you around for moodang?

SPEAKER_03 25:54

Or was that was that pre-U or it was uh it was trading at a pretty high price when I when I got in.

SPEAKER_01 26:01

Yeah, man. Yeah, I feel like you missed peanut. Like these are perfect coins. I was I was around yeah, you would have hit these man just off the way you trade. It's like these are right up your street. Not to give you like, oh, you shouldn't have been there, but like I was there, but I missed it.

SPEAKER_03 26:17

Yeah, I think I was there for I just missed it.

SPEAKER_00 26:20

Peanut, peanuts, peanuts understandable when that guy was flashing his dick all around the internet. That was a pretty bearish memo for peanut. What's sold is I sold because of the I sold because of this guy's dick pictures. Yeah, I was like, I can't I can't imagine this doing well. But it's good to hear like an old school like guy in the way that like I don't know the the trading that I came to know and love and did so well with coming back in this day and age when I have kind of assumed it to be dead, um, and wrongfully so. And it's really nice to see someone kind of keeping that alive. Um, I guess what's it been like for you, like with your like I don't know, you've grown from you know no Twitter followers and FOMO followers. Now you've got like what a hundred thousand full followers on FOMO.

SPEAKER_03 27:07

Yeah, a little over as of this week, actually.

SPEAKER_00 27:11

That's insane. What is trading on FOMO with that many followers like? I mean I can't imagine.

SPEAKER_03 27:17

It's uh it's got its pros and cons, right? Because I think I affect a low cap a little more than I'd like. You know, if I'm trimming a position and it causes a major sell-off, like I obviously don't like that. And um, you know, I have to be more transparent in what I think coins are gonna do. Like I'm not trying to farm anyone, and I obviously have a much larger um audience and now a bunch of copy traders. So you have to be more selective with the coins you choose, but you know, I'm happy to like bullpost two or three coins and just hold them. I mean, that's kind of what I've been doing the past couple of months.

SPEAKER_01 27:57

Did did you prefer operating on CT and FOMO when you didn't have an audience compared to when you do? Because I think a lot of people on CT, like when you're a small account, you go like, oh my god, it'd be so good to be like a big account and have like these good takes and popular takes, and then you actually have it and you're like, oh wow, this isn't as good as it uh it seems, and it was better when I was a small account. I feel like that's like 80% of CT people. Do you sort of feel the same?

SPEAKER_03 28:23

Yeah, it it's hard to say. Like I like engaging with a larger audience, like just talking about coins and whatnot, but um I certainly don't like feeling responsible for a coin. Like I used to just put every coin I bought on my Twitter, like I can't really I don't feel like I can do that anymore.

SPEAKER_01 28:40

Yeah, yeah, you can't just put every coin, yeah.

SPEAKER_03 28:44

Yeah. Because I don't even like I'm not even lying when I say I I barely look into like distribution on a coin or like a bundle. I just don't even care about that stuff or look into it. So I could chill something that would rug two minutes later.

SPEAKER_00 29:00

You're in the right place. We've I've never looked at bubble maps in my life. I don't even know how to use it. You're in the right place. But you know what's funny is that the most successful guys I know that trade, none of that shit matters to them. It's like you buy a coin, you like the narrative, you see the vision, you hold on to it for long enough to see that narrative out and it goes up. Like none of that tooling stuff.

SPEAKER_04 29:19

I think I think part of that is right, because like a good a good narrative, a good token is like all that stuff's gonna happen and it will either survive that and move past it, or it won't. And it's like if it won't, then yeah, all that stuff matters, but it only matters for really short-term trade, anyways, right? Because it's just gonna die. But if it's good coin, it'll go through all that and then it'll kind of enter the new level, which is like, okay, now it's now it's a tradable asset, it's not like a trench token anymore. They're like there's just categories now.

SPEAKER_01 29:51

Look now, have you have you started trading anything else apart from meme coins? Like, are you trading any equities? Are you trading any like majors, or are you literally just like I'm trading meme coins, not interested in any other bullshit?

SPEAKER_03 30:06

Um, I've dabbled around with leverage trading a little bit, but um it's not not something I want to focus on.

SPEAKER_00 30:16

I'm a spot guy, I've come to realize. That's just my favorite arc is every meme coin traders. Oh, I could perp trade.

unknown 30:26

I'm kidding.

SPEAKER_00 30:27

Swizzle's already in the off right now.

SPEAKER_03 30:30

Yeah, yeah. I never thought I could. I'm like, you know, it might be useful to learn how to do this for future future reference, but um no, I mean I like trading meme coins, so that's what I do for the most part.

SPEAKER_01 30:44

Nice. Yeah, uh, Swizzle just started his uh his perb journey. And to be fair, you actually hit it.

SPEAKER_04 30:50

But that's be it's the thing is if I'd started doing it because I was on a high where I was like, man, I I'm so good at this meme coin trading game, I can do this. It was the reverse where I was like, damn, I suck at meme coin trading now, I'm done. I gotta figure out something else that I can that I can do. So I came from a place of rock bottom. Yeah, most people come from the high. Yeah, the high, yeah.

SPEAKER_01 31:10

Type the entry point, you know. It's true. And then you accidentally hit Zach. That's a crazy one as well. I accidentally, yeah.

SPEAKER_04 31:17

I've really I've only taken two two legitimately sized perps trades, and uh fortunately one of them, well, it's still open, so I could easily round it.

SPEAKER_03 31:25

I was gonna say, did you close that trade yet?

SPEAKER_04 31:27

Or is it I mean we were probably I've I've actually added spot. I've added spot. Um I have nothing position.

SPEAKER_00 31:37

My hyperlike.

SPEAKER_04 31:38

And my guy thread, my guy thread guy is uh basically holding the same trade. I think I might have had a little bit earlier entry, but we're pretty much holding the same trade right now.

SPEAKER_00 31:46

So I love it. Um my hyperliquid PL is atrocious. It is so bad. That's crazy, man. It's really horrible.

SPEAKER_01 31:56

On a coin that's simply up only.

SPEAKER_00 31:58

Well, no, not not the actual token.

SPEAKER_01 32:00

Oh, okay, okay, yeah.

SPEAKER_00 32:02

Like my perp trading account on hyperliquid, my PL is just it's disgusting to look at. Yeah. But like can't do it anymore. I just like want to keep clicking buttons, you know.

SPEAKER_01 32:12

Yeah, buying the buttons. You gotta keep clicking. When you when you're down, you just keep on going.

SPEAKER_04 32:17

You might be best suited to be one of these uh terminal traders. Because you love clicking, you just gotta click a lot of buttons fast. I feel like you'd like that, you know?

SPEAKER_00 32:25

Here's what I do. Here's my cycle is I I make a good trade, I hold it, I have a thesis, I hold it out, I ride through the volatility, I make a lot of money, then I think I'm invincible, and I start trading like new pairs and shitters and start and perps, and I start trading, like actually trying to trade, and I realize I'm and then I lose 25 to 30 percent of that money, and then I freak out, and then I off-ramp like 50% of what I have left, and then I keep the rest on chain and I stop trading new pairs, and then I find something else and win again. That's been my pattern, at least.

SPEAKER_01 32:59

I do notice what when when you have Wood's wallet, though, I remember this is like way back in the day. Wood is a flip-flop, he'll sell the whole like 25%, 30% of a massive position. Yeah, move the chart, and then he'll buy back two minutes later, two minutes later, he's buying back everything. This guy sells 100k on the chart and goes mind changed after three minutes. He's like, I'm back in. I'm back in.

SPEAKER_04 33:21

It's like it's like the crazy, it's the craziest mismatch of like in a way, in a weird way, Wood is super disciplined. Because if if it looks like resistance is broken or it starts chart starting to look wonky, he's out, like he's not gonna mess around with it. But then he'll but then he'll buy right back in, and it's the most schizophrenic thing ever. So in a way, it's purely emotion emotionally driven, but then also it's kind of disciplined. It's yeah, I'm I miss the old wood, man.

SPEAKER_01 33:50

I missed on the fog chart. On the fog chart, yeah. You you sold, yeah, 170k in like five minutes, yeah. And I was like, I was like, bro, what the fuck? Like my my position's getting hammered, bro. I just bought six figures as well. And I was like, bro, I'm gonna I'm gonna start selling. This looks terrible now. And then two minutes later, you just start buying back. I was like, what are we doing? I was like, you've actually took my money, you just robbed me.

SPEAKER_00 34:17

I did dirty things to that chart. Um, yeah, I don't know, man. I I I I am so schizophrenic. I feel like you uh Log Jam, you you were saying something about people like tracking your wallets and stuff. I don't even want to know what people think about my trading. It can't be good.

SPEAKER_04 34:32

I was like, people definitely thought people people thought Wood was like this super sophisticated, like they thought he was side walleting stuff and like you know, like just rugging people, whatever. It's like, if only you knew him, guys, like he literally doesn't know how to do that.

SPEAKER_03 34:50

He would get crucified if he had a large FOMO account. The Twitter trolls would be all over his ass if he was doing that on a public FOMO.

SPEAKER_00 34:57

Yeah, dude, my public FOMO account is down so much money. I don't I can never, I can't even open that public FOMO.

SPEAKER_04 35:04

My FOMO wallet is also the worst, it's the worst wallet I've performing wallet I've ever had, and it's not even closed.

SPEAKER_03 35:10

I saw you sold the bottom of a copper unit.

SPEAKER_04 35:15

I've sold the bottom of a lot. I've sold the bottom of a lot of coins on honestly, like there's something about FOMO that just makes me the worst trader of all time. And then it's like all my other all my other wallets I don't check as frequently. I'm the log jam style, and they're all doing fine. But then the one that's public is like, oh my god, this guy is a terrible trader.

SPEAKER_01 35:37

Yeah, you did sell the bottom of Copperino. That was a rough one. We actually spoke about that. I deserved it too. Yeah. Are you a Copperino guy?

SPEAKER_00 35:47

No, I'm not. It was the stupidest coin ever. I don't know why Swiss and I were ever bullish on it. I convinced myself to be bullish on it. I bought one percent of Copperino at 10 million. At 10 million market, yeah.

SPEAKER_02 35:58

Oh my god.

SPEAKER_00 35:59

Well, the guy 1% at 10 million.

SPEAKER_03 36:03

But um I felt like it was just dependent on him, which was uh bearish in my opinion.

SPEAKER_00 36:08

You know what else? You know, you know what coin that sounds like is a coin called Asteroid. Oh no.

SPEAKER_04 36:13

Actually, hang on, hang on. One more question for you, Log Jane. Uh will you will you size into coins above a certain amount, or are you only sizing in if you're super early to stuff?

SPEAKER_03 36:25

No, I mean I I bought um over six figures of neat. I bought 30k of triple T. Um I'm not scared to size into coins.

SPEAKER_04 36:36

So you'll do the rules like at these levels. Like if you believe in it, you're like, okay, I'll keep adding five figures to my position or whatever when it's above twenty million if I believe in the coin.

SPEAKER_03 36:46

It's not like I don't think I would buy uh I don't have any set rules per se, but I don't think I would buy any other coin in I mean, except for neat, like the amount I've put into that one. I don't think there's another coin on the market I would buy six figures of that's above 20 mil. We've all said this before.

SPEAKER_01 37:08

So yeah, times are different. The next big thing comes. The next big thing comes, and you're like, whoa, whoa, whoa, whoa.

SPEAKER_04 37:13

This is exception, exception.

SPEAKER_00 37:15

You know what else I bought six figures of was fucking Ralph at 35 million. Ralph. Oh no, man. 35 mil, but I was right because it went to like 50 and then it rugged overnight. So I was wrong. Yeah, I was right for a little bit.

SPEAKER_01 37:28

To be fair, I put a lot into gas as well. I bought a lot of gas at 9 mil, an embarrassing amount. Um, which paid off in the end, but it did pay off. It did pay off. The generational ball at the bottom ball post that was that was the last. I think that was the we were talking about my last shill. I think that was my last shill um was gas on the timeline at 9 mil, and then catastrophically the guy just pulled the plug.

SPEAKER_00 37:50

So not a great one. That started the uh the bags better.

SPEAKER_01 37:55

Yeah, the bag, the fins, single-handedly. The Finn's bag bullpost, the thesis bullpost, and then uh yeah, it was great for about four days and then fell off a fucking cliff.

SPEAKER_04 38:05

But um, I actually think that was that was the end of my FOMO journey. That was that was it. Uh that was a big blow. I was number one on the FOMO leaderboard. I I think I was like up 250k profit. And I just it happened in literally 10 minutes. I round-tripped it all and had to sell for break-even. I off-ramped off-ramped a bunch of money after that. I was like, I can't I can't play these conditions anymore.

SPEAKER_01 38:29

Yeah, that was a bad one. That was a bad one. Lockdown, do you like it's a big topic right now? Like, obviously, like Solana on-chain is is highly contested and there's a lot of problems with it. What is your thoughts on not just on-chain in general, but like Solana on-chain? Like, where do you think we're gonna be next cycle? Where do you think we're gonna be trading next cycle? Is it Solana?

SPEAKER_03 38:52

Oh, I've heard a bunch of different theories as to where we're gonna trade. I mean, you said you just the Zcash ecosystem at one point. I would love it.

SPEAKER_01 39:02

I would love it. I would love it.

SPEAKER_03 39:04

I would be there. I don't know if that makes any sense, but um, it doesn't you know. Solana from a retail perspective is the easiest to onboard new people, right? Like they can come onto Solana, set up a Jupyter wallet, or whether it be FOMO wallet, and it's easy. There's not a lot of um you know, it's just easy for the average person to pick up. If you think it's gonna be a new game, it's likely not gonna be on Solana. I mean, maybe your ZCAS thesis would make sense from that point. Um but I don't know. I like Solana as a chain, I think it has its issues, but if the macro sentiment is much better than where we're at now, I I don't think it's as big of an issue as people present it to be. I think it's just sort of like bear market talk.

SPEAKER_01 39:54

Yeah, I saw I I kind of I see where you're coming from. I see where you're coming from. Yes, my takes on uh other chains uh maybe maybe sound ridiculous, but it's like as as the way Solana came about, it can happen on other chains as well. Um like with how seamless it feels. Uh, but I do agree Solana is the best place for what's currently going on, like the way it trades right now, but like is the way it trades right now sustainable? I'm not sure. I'm not sure. But it's I think that's because like I'm I still cling to them days, what like two years ago, where it was just like it was crazy, man. None of these tools existed, and it was just like you just got away with everything. Um and maybe I'm just hoping for the best there. A bit of delusional.

SPEAKER_03 40:40

Well, I I think the question is like who's gonna drive the next bull market? If it's retail, then I think Solana's the place for that. If it's you know, where the the whale's gonna trade, then maybe something like a Zcash ecosystem makes more sense.

SPEAKER_01 40:55

Do you believe a retail-driven bull market will come back like it has in the past?

SPEAKER_03 41:03

I I do just because I'm a product of it. Like, like we touched on earlier, I had no crypto knowledge. I mean, zero. And when everything was going crazy, and then you see stuff on Twitter about people turning a little into a lot, you know, that piqued my interest enough to jump into it. So if the macro conditions are good enough, like I don't see why that changes. I I mean I know a lot of people got burnt. I'm not um discrediting that, but I don't know. When Groovy is flying around, I I just I think a lot of the problems we're dealing with right now get forgotten. But I'm also an optimist, so I'd like to think that it's gonna work out anyway, regardless of what's going on.

SPEAKER_01 41:44

I I would love to have that take, but I I see a lot of uh like whenever I see crypto mentioned outside of CT in our little bubble, it's like everyone just has these crazy non like connotations of it right now. And that's not to say it was like that last cycle, like last cycle. It was like that last cycle post-ftx. It was fucking bad. It was similar to this now, but like I feel like today is even worse than it was for retail users after FTX. It was like when Twitter announced that you could mute certain sections on Twitter, the the number one most muted thing was crypto, which was uh kind of unsurprising because it's like there is a lot of uh complete slop that comes out of this.

SPEAKER_04 42:28

I th I think a lot of it was the Trump administration.

SPEAKER_01 42:31

Yeah, definitely, man.

SPEAKER_04 42:33

You know, people were so excited about what it was gonna do for crypto within the industry because it was such a like um like attacked and ostracized industry. And there was this whole thing of like, man, if they just let us do this stuff, it can be this it can change finance, it can be this thing that is so good for the world. And then Trump came and he's done that, but he did it in this way that is so cringe, so corrupt, so like in your face of like you know, selfish here, like the all of the worst connotations and stigmas that have been associated with crypto have been shoved right into the centerfold of everything, and they're being advertised and bragged about basically. And and I think it has done so much damage where now like the veil has been lifted, and they basically leaned into like yeah, the self-serving, like nasty parts of this industry we're gonna use that stuff, and now that's what the industry truly feels like it is to people from the outside. Like that's my take is uh like Trump had a what we wanted him to do in retrospect, obviously was not what he was gonna do. He was gonna do it in a self-serving way. And now we're kind of it's like this is what we asked for. Be careful what you asked for because we got it.

SPEAKER_01 43:59

Yeah. Yeah, I don't think anyone could have expected when he got into office that he was gonna go meme coin mode as well. That was just completely insane, man. Like we all were hoping, like, oh my god, Trump's in, we're gonna get some good legislation, like we're gonna like doors are gonna open for crypto. Like, nah, this guy was got I'm gonna launch a meme coin and host meme coin dinners at the White House. What the fuck? Fuck yeah, they did.

SPEAKER_04 44:20

And by the way, we actually are getting that legislation. Like, you know, we just had this huge news yesterday that seems dampened and and there's less excitement around it internally than there once was. Like, if this Clarity Bill, Clarity Act was on the verge of passing, like uh back in 2024, like before this election, people would be euphoric about this. Like, it would be the greatest thing that's ever happened. And now it's kind of like, yeah, well, it's gonna pass, but like there's all it's all clouded by this stuff.

SPEAKER_01 44:50

Yeah, I sort of saw Elizabeth Warren saying it was uh it was gonna be the end of finance or something, though.

SPEAKER_00 44:57

Yeah, yeah, yeah. Uh what should you say? It's gonna blow up the economy because there'll be crypto everywhere.

SPEAKER_01 45:02

Oh yeah, yeah, that makes a lot of sense.

SPEAKER_04 45:05

But on a real note, her thing is she, you know, the dem the Democrats are upset because they want this specific uh language put in there. They want it to say specifically that like the Trump family cannot engage or like individuals cannot engage in certain activities, um, which is based on like they did do corrupt shit. So I understand why they want that. But they're like they want to put like specific terminology about a specific thing into like a bill that's supposed to be long-lasting. So she's kind of completely off base where she's like, hey, we want to punish the Trump family in this, you know, this uh five.

SPEAKER_01 45:45

We've lost him. We've lost we've lost him.

SPEAKER_00 45:49

Elizabeth Warren got him, man. Swizzle's our clarity act guy. Um in all seriousness now, people have gotten so fucking bullish in the last two weeks, and they're like arrogantly telling all the bears, me and Sats mainly. Um Sats, what did you sell all of your Bitcoin at? 74? Yeah. Around the I'm around 73, I think. Um on the move up, because I thought the move was over. Yeah, shit. Sats and I. But in all seriousness, you see the 10, the 30 year at 5%. We've got uh in the UK it's at 5.9%. In Japan, it's over 4% right now. Um last time this happened, the whole world ended, basically. Um and you know, it literally did.

SPEAKER_01 46:36

It was the like Yeah, literally. It literally did.

SPEAKER_00 46:39

Yeah. And we have everybody on crypto Twitter saying that if you're not a bull, you're an idiot. And these are like unprecedented, like these are these are conditions that happen right before you fucking do. We have, I mean, you throw money at equities right now, and you're you're going up. Yeah, people are trading, people are training, like uh Gab, Gab bought this token, that this this uh AI shitter called Poet. He bought it at like eight bucks. It was trading at like$30 in like three or four days or something. It was a three billion market cap with one million of annual revenue.

SPEAKER_01 47:16

Yeah, and that's just teleporting up with just because it's got AI in the name. It's fucking insane. It is uh it's a crazy time in equals.

SPEAKER_00 47:24

But like, and everyone's just calling for that to roll into crypto, right? Um I don't know. I'm like, I maybe I I I hope I turn into the idiot here, but like it just seems like I don't know. Log Jam, you say that you're an optimist. You're you're given all that, you're still optimistic. You're bullish crypto, you're not saying, you know what, maybe it's time to take away any of this million dollars that I've amassed this year.

SPEAKER_03 47:50

Um, well I I did cash out the entire penguin trade, so there you go. Thank God. So I can be bullish on crypto in a long enough time frame. Um so willing to wait months if if need be. I mean, I'm not blind to what's happening in other markets on a macro level. It's just like I'm willing to wait through it. And I believe in it on a long enough time frame that I am bullish on on chain. But um look, a little crash would be great for me. I would love to buy a house. So um the boomers are holding that supply pretty pretty tightly, and everything's overpriced. I would love it to be a buyer's market.

SPEAKER_01 48:32

Yeah, isn't real estate in the US fucking crazy right now?

SPEAKER_03 48:35

It's absurd. I mean, where I live, you buy a 2,500 square foot rancher for like a million bucks built in the 50s. Like it's absurd. Like that. Who the fuck would pay that?

SPEAKER_01 48:49

Yeah, I've heard it's uh absolutely insane. I also looked, I've been looking at like uh some apartments here and there in uh San Francisco, and uh the prices because like the AI boom there is fucking crazy. I've never seen anything like it. I thought London was bad, and then I look over there and I'm like, wow, bro, London's cheap. Wow, I'm living a luxury over here. Um, but no, it's fucking crazy out there. But equities are literally just up only. All these AI companies literally just have so much money, they just shit out another hundred billion at a time each raise, it seems. So it doesn't seem sustainable to me.

SPEAKER_03 49:22

Do you guys think that's sustainable?

SPEAKER_00 49:24

I mean the charts on equities, but I mean, one thing, Swizzle, you were you were cut out of here, but um you guys remember how Icy, you guys know I see, right?

SPEAKER_02 49:35

Yeah, yeah.

SPEAKER_00 49:36

He's been he's been showing us the uh SPX M2 chart for six or seven months now.

SPEAKER_01 49:43

Yeah.

SPEAKER_00 49:44

And it finally hit the levels it hit before the dot-com bubble burst.

unknown 49:51

Yeah.

SPEAKER_00 49:52

So there's like that, there's the 30-year hitting where right before where it hit in 2007. There's all these little signs.

SPEAKER_01 50:00

Yeah, I just I think AI, I don't think AI is a bubble. I is that that's a weird, strange take and not one a lot of people agree with. Yeah, I I don't I don't think it's gonna burst. I think I think we got a long way to go. I think like what is Google worth? What is Google worth right now, like 4.2 trillion or something? Google market cap. Uh yeah, 4.7 trillion and anthropic is at one. Your bet is right now, in in my eyes, is is Google overpriced at 4.8 trillion, or is anthropic undervalued at a trillion? Because like which one's gonna change the world more at the moment? And I think it's anthropic. But would I take the fucking bet here? No, which is a different story. But like, I don't know, man. I feel like as a big user of AI as well, I feel like this has so this is so far to go. Like, you can get the world hasn't digested this completely. Companies are still yet to adopt, like we're still in its infant stages, but we're so inflated, it's fucking crazy. So it's uh but then you look at the stock chart and you look at the stock prices and you go, like, wow, this is not sustainable, but uh is it like am I being stupid?

SPEAKER_04 51:14

Yeah, so I think that's part of it, and I sorry what I I cut out on my internet so I didn't hear everything you said, but like you also have to factor in uh the inflation. So like if we're you know, if if nations keep printing money like this and inflation is just like a consistent theme and it and it continues to rise, then you have to ask a really reasonable question, and maybe this is a simplistic approach to view, but sometimes the simplest explanation is the best, is like Google is unquestionably a great company, right? Like you can look at all these Mag 7 companies, they're all great companies and they're they're going to continue to produce value and they're going to be some of the most important companies in the world, but that's past the point of arguing, right? Like no one is gonna argue with that. You can decide if you think they have you know areas of concern or whatever, but very likely they will address them and continue to be great companies. So knowing inflation is happening, you get to a point where you're looking at it and you say, Would I rather hold fiat dollars or would I rather hold equity in this company? And if you know that the company's valuable and it's gonna continue to produce outputs like that, then if inflation happens, then the asset price, theoretically, is just going to continue to raise because it's going to reflect the value in accordance with you know the economy that it's uh coinciding with. And so like you know, will there be will there be corrections, will there be pockets of time where you have big corrections or you know, like there's adjustments to all that? Yeah, for sure, of course. But like if you take a more long-term view, I think it does kind of make sense. It doesn't mean there's gonna necessarily be this massive stock market crash. It just means you know the asset price might continue to go up over a long time horizon because the what that dollar value it's associated with is going down. Um and that's why I wouldn't bet, to be honest. Uh as long as you can take a longer view and you're not trying to time some little, you know, some 20% correction that happens at some point, even if that happens, I think it's very safe to assume that the good companies will then um recoup whatever happens in that correction and more. Because, you know, they're just good assets, especially in comparison to the devaluing of the dollar.

SPEAKER_01 53:37

Here's a question probably for everyone. At Anthropic's last raise price, which is 950 bill, would you long that? Would you long anthropic at 950 bill?

SPEAKER_04 53:52

No.

SPEAKER_01 53:54

Damn.

SPEAKER_04 53:56

I I think it's a nuanced answer. Yeah, I think it's a nuanced answer. For sure.

SPEAKER_03 54:05

But if you're gonna long it at a higher price, like it's just such an unknown.

SPEAKER_01 54:11

Yeah, and it's a big mental gap.

SPEAKER_04 54:15

Like Google is safe. Like it's a it's established in in where it's it's carved out. It's a variety and it it's gonna continue to Elizabeth Warren gotten again.

SPEAKER_01 54:31

Elizabeth Warren Oh Clarity guy claryact guy just keeps on getting taken, bro. The Dems are literally after him here, man. He can't give any any bullpost on anthropic, nothing. Would would you?

SPEAKER_00 54:45

No, I I mean maybe. Yeah, not a hard no, like maybe. Um if it as long as it wasn't in some sketchy SPV and I didn't have to pay an arm and a leg to get access to it, sure. But on the open market, yeah, I would buy anthropic at 950 and probably hold it for a very long time.

SPEAKER_01 55:03

Okay, yeah, that's what that's what I'm talking about. Like if there was an IPO right now and you could buy it with no bullshit, like you're not buying on a secondary market, like I think I would.

SPEAKER_00 55:12

Yeah, I think I would. I think I would. And I think I would have a 10-year decade long time horizon. And I think I'd waste in the long term.

SPEAKER_01 55:19

Um, okay. I think that was the answer I was looking for. Yeah. Uh someone someone in the the the hold for half a decade uh crew. Because I think I would probably do the same. Um I think I would probably do the same. Uh would I feel comfortable doing it? Definitely not. Would I lose sleep over it? I mean definitely.

SPEAKER_00 55:37

I don't think I would put like my life savings into it, but I would put a couple percent of your net worth into it. I would.

SPEAKER_04 55:42

I would. Can you guys hear me right now?

SPEAKER_00 55:45

40%. 40%.

unknown 55:46

Fuck it.

SPEAKER_00 55:46

Yeah, yeah, yeah.

SPEAKER_04 55:48

I will say this. Did you guys see Ansem's uh market bubble show yesterday? I did not. I saw a lot of clips. They brought on Tristan Thompson, who's a retired NBA player. Um, and he was just talking about how he got in this anthropic deal, and they cut him into SPVs. He brought his friends in, and they all threw checks, and he's all euphoric, you know, he's up big. And I did watch that and I was like, oh shit, man. Maybe maybe this is a bubble. This might be a bubble.

SPEAKER_01 56:18

That was very concerning. This begs the question, you know, how much does he have? He probably has fuckle. It's like the same guys who go, I'm in poly market early, but yeah, but how much are you in polymarket? You got a 25k check at fucking god knows what valuation.

SPEAKER_03 56:31

His career earnings were multiple hundred millions. I mean, he signed a hundred million dollar contract, Tristan Thompson.

SPEAKER_04 56:36

Yeah, no shade, no shade to Tristan Thompson. That's not what I'm saying. I'm just like, man, everyone is in these. Everyone's up different interests, marginal bias TVs and all this stuff.

SPEAKER_01 56:47

Yeah, everyone's looking to dump everyone's up fucking trillions. But but it's it's still yeah, on paper.

SPEAKER_00 56:54

They're up trillions on paper, but it's still basically door, door is gonna get small set.

SPEAKER_01 57:00

Yeah, but I just I feel like a lot of these guys don't have the size they have, they say they have in. Like, from what valuation does this guy and how much did he get in, you know? Like, I don't know, man. Like I remember one guy knee sliding the polymarket deal, and it came out he had he had like a 30k check at like like a bill. Like you're not in the round, you're not in the round.

SPEAKER_00 57:23

Like, I have no idea. 30k is a lot of money or how much there is.

SPEAKER_04 57:26

Let's not I just think historically, when you see retail piling into shit like this and euphoric about it, yeah, yeah, it there's there's generally some stuff that happens afterwards.

SPEAKER_01 57:40

You know, yeah, he's on market bubble bubble with phase. Yeah, to be fair, now I'm looking at now. I'm taking a step back, he's on market bubble with phase banks and Anthem talking about how he's in the anthropic private deal and he's up trillions. Shit, isn't that his questioning this for the first time right now? Oh god, yeah. The fact that phase banks has a podcast that speaks about anthropic private deals is that must be a red flag. You know, that we that must be should be triggering some alarm bells with me.

SPEAKER_00 58:12

Shit, man. Uh my the biggest alarm bell I have is that I have no reason to trade, I've had no reason to trade crypto for the last year because my crypto, my equities portfolio, I'm not even like trading, I'm just in like broad index ETFs, is up more money than like I would have conceivably made trading crypto even if I was doing a really fucking good job for the last year. Well, even if you were logjam?

SPEAKER_01 58:38

I don't know.

SPEAKER_00 58:38

Even if I'm logjam. Um I'm up logjam numbers on doing nothing for the past year. Yeah. Like to me, that's like, oh, like maybe there's a bubble going on here.

SPEAKER_01 58:53

Maybe there's something wrong. Maybe there's something wrong.

SPEAKER_00 58:55

What are you considering selling your equities, Wood? Never. The taxes fuck you. Oh my. Because like, okay, so like let's say I sell even at long-term cap gains, I'm at 20%. So what am I gonna buy back 20% cheaper? I have to buy back 20% cheaper. That's the that's it. What are you borrowing?

SPEAKER_01 59:15

Yeah, yeah, you yeah, you're barring against the most good. What's the tax strategy here, bro?

SPEAKER_00 59:19

There is no tax strategy. There's just never sell.

SPEAKER_01 59:22

Um holy shit. Just forever?

SPEAKER_00 59:24

I guess so. I mean, I am gonna sell the I'm gonna sell enough to offset my fucking like gas, my uh not gas, my uh Ralph losses this year. Um but that's about it. I'll like offset my losses, and that's probably it.

SPEAKER_04 59:40

That's my break even on that, but like besides that, just never trying to offset his gas, uh fill in fill in the gas tank in his car in the minivan.

SPEAKER_01 59:47

Oh, I thought I thought you were gonna say I'm gonna offset my living expenses, so I'm at at zero. I was like, wow. Wow. No, running runner, no. Yeah, running it, running uh fucking zero expenses from the stock market. That's an interesting one. Never selling.

SPEAKER_00 1:00:02

Damn. I mean, I'll sell in 30 years, but I'm not that old. I don't need to, I don't need the if you don't need the money, why would you sell? I'm not like trading these outsets. I I'm 59 actually.

SPEAKER_04 1:00:14

By the way, Logan, I was just looking, I pulled up your FOMO account and and I'm now a proud follower, uh number 107.2k. Um Do you find it interesting? You have like five times as many followers on FOMO as you do on uh on X.

SPEAKER_03 1:00:31

Um I do find it interesting, but I think the way the app works is that every time someone downloads it, the top three 24-hour traders get a follow. Oh really? Yeah, that is um probably X like expedited that that uh growth. So you're like the default follow.

SPEAKER_04 1:00:53

Oh, it's like an auto-follow. You're like the Kylie Jenner in the early days, too.

SPEAKER_01 1:00:57

Yeah, you're like the Kylie Jenner of Insta, like of FOMO, bro. Like you know how it auto-follows in like when you download Instagram, just auto-follows Kylie Jenner.

SPEAKER_03 1:01:05

Well, yeah, you you gotta be in the top three for 24 hours, so um you gotta perform to get there, right?

SPEAKER_01 1:01:11

Yeah, there you go. There you go, number one. I find I I always I always see your uh your profile picture, it says like the not open to work thing. That is uh it always gets me.

SPEAKER_03 1:01:21

Soon.

SPEAKER_01 1:01:22

Soon. Yeah, soon, soon. Have you have you like you said you off-ramped the the penguin one? Have you took any other profit or are you just fucking are you all in?

SPEAKER_03 1:01:31

Yeah, I I I take um a decent bit of profit. Like I've off-ramped probably like 40k this month. But on the size positions, like Neat, Triple T and then uh like Goblin, I'm not gonna touch those until I feel like they're at a price where I'd like to sell them at.

SPEAKER_01 1:01:50

I haven't actually looked at your FOMO account. I looked at it like and dug into what you're actually holding right now. How much cash are you holding compared to how much positions? Like, are you like 50% cash, 50% positions, or what's the balance here?

SPEAKER_03 1:02:02

Let's see here. I have$50 in cash.

SPEAKER_01 1:02:08

$50. Wait, how much in positions?

SPEAKER_03 1:02:12

Um It fluctuates$614,000.

SPEAKER_04 1:02:18

Real shit, and this is your one, you're a one-wallet, you're a one-wallet guy. You don't want to get a lot of things.

SPEAKER_03 1:02:24

Yeah, well, if I'm gonna buy a really shitty coin, um, I'm gonna do it on like one of my old Jupyter ones, just so I don't like lead people to slaughter.

SPEAKER_04 1:02:33

Yeah. That's added to the thing.

SPEAKER_00 1:02:36

I used to do that too, except then people find your old Jupyter wallets too. It's terrible. I've made some new ones.

SPEAKER_04 1:02:43

Yeah, actually the the thing now the problem is people will t find a tag and link if you ever send at any time you send from wallet to wallet. So, like, I mean, wouldn't I figure out privacy cash? If you ever want to do things uh without truly being tagged, I think privacy cash works unless they unless they figured that one out.

SPEAKER_01 1:03:01

So I I'm not gonna lie, I figured that one out as well. Oh god. So yeah, yeah.

SPEAKER_04 1:03:07

The mistake that I made privacy cash wasn't private.

SPEAKER_00 1:03:10

No, the mistake that I made back in the day was I didn't realize that you could change your Coinbase USDC deposit address. Oh yeah. So I would spin up fresh wallets and then I would not connect them at all. I wouldn't send money between them, but whenever I would off-ramp, I would send money back to the same Coinbase USDC account. And so my whole web of wallets was just never private. And I just never knew that. I always thought I was being sneaky.

SPEAKER_04 1:03:38

Uh wait, so anytime you deposit or withdraw from the same central chain balance.

SPEAKER_00 1:03:43

Just deposit.

SPEAKER_04 1:03:45

If you dep if you deposit, then they know where it's coming from and they link it back to other wallets, it's deposited.

SPEAKER_01 1:03:52

It's the same deposit address. So say if you were depositing to Kraken and you do it three months ago, it'll be the same deposit address unless you manually refresh it. So if I was to create a new wallet, trade on it for two months, but then that deposit address I used six months ago, but I send it back to that same deposit address, people know it's mine.

SPEAKER_03 1:04:13

Crazy.

SPEAKER_01 1:04:15

Yeah. I got burned back.

SPEAKER_04 1:04:17

Zcash is undervalued, folks. So Zcash is uh privacy coins as well.

SPEAKER_00 1:04:22

Go on. Oh no, I was the uh Jintao's tweet about uh privacy guy declaring publicly that he's buying privacy coins.

SPEAKER_04 1:04:34

I felt targeted, but it was good. That was really good.

SPEAKER_01 1:04:36

That's literally all of us, isn't it? Like uh all of us that we all bought privacy coins, then we all were so excited to get on here and go, guys, I'm a Zcash holder. I'm a Zcash guy. Yeah, what a fucking classic man. But privacy cash, privacy cash, great service, but you've got to know how to use it effectively to get the most out of it. Because if you just send, if you deposit to privacy cash and then you send straight to another wallet instantly, you I know where it's gone, and everyone else knows where it's gone. It's really, really not hard to find. But if you send a large amount of cash, you wait 10, 20 hours, three, four days, and then you start distributing it out, you'll get away with it then. But yeah, it's not as uh it's not as private as people thought, maybe. Still a great service. It's all great service, but not to fud them. Great guys.

SPEAKER_00 1:05:22

Insane. Um cool. Um I think we should probably wrap it up here, guys. Um Logjam, great chatting, man. It's really great to get to know you. It's great to get to know a guy who's done well trading in the fashion that uh Sats and Swizzle and I did have done well at and doing it today in this age when it's all about like multi-walleting and bundling and all that shit. Um so refreshing. That's awesome. Very refreshing. The the success you had have had is is truly impressive. Um if you're not following Logjam on FOMO or Twitter, uh go throw a follow on both locations. Um And uh we will be back when? Next week? Tuesday? Yeah.

SPEAKER_01 1:06:04

Yeah.

SPEAKER_00 1:06:06

And then we have another cool guest. We actually have have have a privacy guest next week.

SPEAKER_01 1:06:13

Damn. He's gonna scream a shout about all the privacy coins.

SPEAKER_00 1:06:16

Yeah. So we'll so we'll actually learn about some learn to talk about privacy from someone who actually knows about privacy. He'll teach you guys something, probably.

SPEAKER_01 1:06:24

Can't wait. Can't wait. Big privacy guys in this pod. Big privacy guys. Um public privacy guys, though.

SPEAKER_00 1:06:30

Public privacy guys. Yeah. Thanks, Logjam. Appreciate it, man. All right.

SPEAKER_03 1:06:34

I appreciate it, guys. Thanks. Uh yeah, we'll talk soon, both.