Risk On Podcast
Risk On with Wood, Sats, and Swizzle. Twice a week we cover the biggest stories in markets, macro, and everything in between. From crypto to equities to whatever's ripping this week.
Please rate us 5 stars.
Risk On Podcast
The Black Bull | EP 74
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Covering:
• Ansem is airdropping coins to everyone and the black bull is ripping
• Strategy indicates they could sell up to $1.25B BTC
• What happened with CARDS?
• Equities bouncing back
And more
Welcome. Risk on uh episode 74 uh brought to you by FOMO. Uh go download it today. Uh use promo code risk on uh for 10% off trading fees, uh use the web app, trade perps, trade tokenize equities, trade it all uh on FOMO. Um good afternoon, guys. How are we uh doing today?
SPEAKER_03Amazing, amazing. Um Bitcoin making new lows looks uh absolutely terrible. Um no other ways to put it. Equity's going up, but yeah, great day, great day in paradise.
SPEAKER_04Swizzle, how are you doing? Are you uh playing the World Series Poker still?
SPEAKER_00I am. I'm back here in Vegas. Uh still uh still seeing if uh Vibu and I cross paths, as it seems he's made this his residence here for the for the next couple months. Um doing well. Fact checking stats as always. Bitcoin is not making new lows. I don't know where he's getting that from. But uh I love that we can just say things. That's good.
SPEAKER_03I'm I'm cool in the future. I'm cool in the future, right?
SPEAKER_00Yeah, we're right exactly where we were before. Nothing's happened, but uh we had a crazy we did have a crazy weekend. Uh and that's before we even get into the actual crazy stuff that happened. Uh it was a bloody, bloody weekend on Alts. And then um they all kind of just recovered and went back to as if nothing happened on Monday. Um and yeah, they look less weak than Bitcoin, which is which is interesting. And then there's a lot of dialogue around that. There's a lot of dialogue around Sailor and Stretch. And somehow that is not the top story that we're talking about.
unknownYeah.
SPEAKER_03So there's more important things going on, actually.
SPEAKER_00The trenches are justifiably the topic of the day.
SPEAKER_03Yeah, they are. It's been booming over there. Um, the elephant in the room, the bull in the room. The bull. And some coin.
SPEAKER_04Yeah, this is is crazy. So I've been I've been AFKing very hard for a few days now, five or six days now. And uh Saturday morning, I think it was, I uh see this coin, which had been like at seven or eight million for a few days, um, just ripped to 50 million. I was like, what the fuck happened? I woke up and was so baffled by it. And everyone was saying to me that uh, like, what do you mean? Ansel's been chilling it. We've all been buying it. Look at the scanning, like, look at the scan on it. And I was like, what do you mean? So I am I am sidelined, but I have a lot of opinions on it. It's all that everybody is talking about. Um overall, like, I think it's good for the space. I see a lot of people hating it. Um generally speaking, I think it's pretty good. I don't know.
SPEAKER_03Um Sats I I think look, I think the Ansome coin is is good. Um I think it's gonna go up. I think it's gonna I think it's gonna go up. It's gonna clear 200 mil. Do I think it's good for the trenches? No. Uh unfortunately the fundamentals of the trenches still wasn't changed. Um still the same tooling problems, still the same participants, still the same rapists. There's no other way to put it. Still the same guys who bundle shitters, send them out. It's the same game, right? It's the exactly the same game. But I hope this is uh coordinated with something else. Um, I hope Pump are coordinating the airdrop around this in this big hype moment, and that will change things because it will get an airdrop, but then slowly we dissipate into the same uh situation because once again the tooling is this is a solved game, but uh mean coins are not gonna lead to the next journey up to solve. Um and I would literally stand on that. I I do not believe mean coins are gonna lead to this next cycle. Um but yeah, and some coin I think it's gonna go up. I know Swizzle has has backs.
SPEAKER_00Swizzle, you have bags, let's hear it. I do. I top blasted. This was the first top blast I've made in a very long time. Um, but I top blasted, I'm in a good spot. Um I want to say that I believe in the coin doing well. To be honest, the reason I bought was more that I just respected the hell out of what Ansem was doing. And I think it's so, I mean, we'll talk about it a bunch more today. There's so much polarization and like toxicity on the timeline of like it's just like it's like the Democrats versus the Republicans here in terms of like the polarization of thoughts on this. There are people I've seen that I'm I'm honestly like really shocked and surprised that certain people I've seen are like calling this a disgrace and saying what Ansem do is doing is bad or whatever. Uh I think they're kind of like blaming the fact that you know there's all these momentum pump and dump traders that came in and tried to bring in a bunch of betas and create a new meta around this. Like, of course that happens, but we didn't used to get mad about it. We used to just say, okay, trade the betas at your own risk. Like, like do all that stuff if you want to, but that's not that's not the runner. That's just like the thing people trade to try to accumulate it. That used to be the ethos. And I just think like objectively, what he's doing is clearly like making himself very vulnerable to attack being attacked. Like his he has a lot of character risk that he put out there. Sure, there's definitely like an upside to it. There's definitely ways, like his reputation benefits by the way he's doing it, but justifiably, because I think like there's like there's just not a way to sidestep around the fact that like he knows he can't sell. He decided to walk into this, he didn't have to do it, he didn't need the money, and like now he's legitimately airdropped, you know, if depending on the liquidity, what you want to call it, maybe it's not truly $10 million, but like he's sent that stuff out. He's he's basically following through and and full get fully getting behind this. Um I think there's plenty of nuance about if it's gonna be positive or negative long term, but like this is to me, objectively, like an a very admirable thing, and and the most honest attempt we've seen at someone trying to revive the space. And I think the impact is actually insane. Like the amount that this has actually created uh a divide and discussion and price action liquidity is pretty insane. So, I mean, I I felt some of that coming, that's why I top blasted. But to be honest, it's like I I'm not even focused on my own bags with this. I'm just like, yeah, like this is really uh significant what's happening. And um I'm gonna choose to be on the side of people who encourage the positivity, you know.
SPEAKER_03Yeah, I I think I think for Ansom, like the coin's gonna go up. I think he he's not gonna let this go. Um he's not gonna let it go. It's gonna go up, but it's just I don't know what happens after. Like, are we now gonna rely on if Ansom doesn't tweet about your coin, it doesn't move. That's what that's where I see it going, it doesn't move. And then but and like I said, it the the game hasn't changed. The game hasn't changed, the fundamentals are still the same, same players, same tools, same problems. Um, all that now is people have a little bit more money, um, and it will just take a while for that to filter back into Bundler's hands, um, and then we're in the same spot. You know, I think that's what that's what happens, and until that until the game fundamentally changes, which I don't think is even possible now, I think we just end up with the these few weeks, few months, maybe months at stretch, where people gain a little bit of money, maybe from the pump for airdrop, maybe from this like the Answem, like trenches now have a little bit of concentrated liquidity to work with, but it slowly just filters back into bundler's hands because people just haven't learned, and I don't think they will. Um, the trenches are literally I I I would honestly say it's a it's a it's another form of a gambling addiction for a lot of these guys. Um, they're gonna make money on Ansom and then they're gonna flip it straight into uh the next 5k ticker.
SPEAKER_00So I don't I don't disagree with you, but I think it's worth us breaking this into two different conversations because like we can definitely get into like the aftermath, what happens. There's always the fallout and everything, but I think a important like an interesting part of the discussion is like like how do you relate that to if you remove your if you remove what happens after for a second and just focus on what's happening right now. I think there's a lot of discussion and dialogue around like is what he's doing good or is what he's doing bad?
SPEAKER_03I I don't think it's good or bad. I don't think it's good or bad. The trenches were fucked anyway, it couldn't get any more worse. Now this has just made people money. Um I think for him personally, it's put him in a bit of a tough spot because the inevitable is this goes to zero. The inevitable is it goes to zero on a long enough time frame like everything does, and that's no hate to him. He knows that he knows what he signed up for. Um and I guess he just doesn't really care if he gets shit from CT anymore. The way I I view this from his shoes is like he's he's kind of pivoting to more of a mainstream audience now, anyway, with banks, and uh he's he's sort of getting out of this CT bubble. Um so the opinions of these trenches and uh these guys like fucking I don't know, MCM and all the guys at Scooter, um he doesn't care anymore. He doesn't care about about what they'll say when it goes to zero because he's focusing on a different audience. Um the CT bubble is so small that it's probably not even worth worrying about.
SPEAKER_00Can I just challenge this for a second though? On the like, sure, anything on a long enough time frame in the you know in the meme coin space eventually goes down, but you know, sometimes it's not it's it's not a good use of your time to focus on like, oh, what's gonna happen? Is it gonna be a month from now, six months from now, whatever?
SPEAKER_05Yeah.
SPEAKER_00Like I want to go back to what his original motivations are and intentions for why he did this are. Like, why did why did he do this? And I and to me it stems back to he is applying direct pressure to pump fun. He is calling them the fuck out. And that's what that's how this started. And and it is so fascinating that it's like now to me, he's put them in a very difficult position. Like they're in a tough spot. They're getting like good price action on their token right now as a side effect, but I think there's a small window where all of a sudden people are like, hey, like, look what just happened here. Why are you guys not like why are you not responding to this? If they don't do an airdrop after this, like I think there's real consequences for pump fun now.
SPEAKER_04Yeah.
SPEAKER_00In the way that it has never happened.
SPEAKER_03I don't think there is.
SPEAKER_04I don't think it's it feels very coordinated though, guys. Doesn't it? Like he's calling for an airdrop, and then all of a sudden he has a pump token launching, which is drawing attention back into the trenches, creating a little bit of liquidity and excitement. We haven't had excitement or liquidity in the trenches in what four months, five months now.
SPEAKER_03The only thing what would have applied pressure to pump if is he if he'd done it on a different platform. That would have been the only thing that would have applied pressure to pump. He didn't do that, and yeah, I people have a lot of opinions saying, yeah, it's coordinated, it's paid. I think, you know, probably maybe um probably I no one uses the pump fund mobile app. Uh and no one uses that, and then he's he's saying, oh, he's out there chilling it. That's true. You don't do it.
SPEAKER_04It doesn't make it a bad thing. It doesn't make it a bad thing. Like even if it's paid, because honestly, I I do think I think even if the coin tops here, I think he's done a good job, and this can be viewed as a success. I think even if we slow grind and bleed for the next you know two months down and it pulls a penguin or whatever and it goes to zero over the next four to six weeks, I think he's succeeded. I think even if it goes to zero, he succeeded. He'll get shit for it, whatever, but I think like he has done a very good job at pushing this, creating excitement, bringing liquidity back to the trenches. Um, I think he's already won. I don't think he has anything to prove to anybody. Like, this is a crazy it's crazy to send a coin in these conditions to a buck to 160 FTV. That's nuts.
SPEAKER_03Yeah, I I fully agree with that. I fully agree with that. Whatever happens from here, it's like people made money, people made money. Um, the trenches made money. It's up to them what they're gonna do with that. And the sad reality is it's just gonna filter back into the casino, um, back to bundlers, like I said before. Um, but he tried. Uh, but it's like, yeah, what what is what is what happens after this? And you know, I just don't really see a way where it improves unless something happens on a fundamental basis um in the trenches.
SPEAKER_04But yeah, I mean that's always been the case though. What I don't understand, I mean, I do understand it, but like it seems like the people there are people that are really hating on this, like really upset about this, um, and getting angry very consistently. Uh him, Garija is I think it's what you say, is like going ham on the timeline about this. I actually uh replied to a few of his tweets to kind of egg him on a little bit. Um I want to see what happens there. But he's like really staking his reputation on this being bad. Um, and I don't know if I understand that degree. I want to pull up some of these negative tweets about it.
SPEAKER_03I feel like I can't get angry about a coin going up, you know. A coin goes up, like that just is what it is. But I I I I do see his points to some extent. It's like, is this what you know, is this all we got left? I I think it is.
SPEAKER_00I I don't agree with that at all. I I think it's so disingenuous, it's so hypocritical. It's so hypocritical to see. Him specifically. When when you built your brand and you built your audience, I know he'll say he made money doing other things, that's fine. A lot of people did, but like part of building your audience, part of building your brand was based around this stuff. And now you're gonna flip. It doesn't matter if you want to move on, that's fine. It's admirable even. You don't have to trade this stuff anymore. But to go and call people out, you know, like this whole internet capital markets, crypto, like it was all based on like the fundamentals, the ethos of like traders trade anything that's in front of them with liquidity. We always have done that. And now you're gonna reprimand people for making their own decisions. Like there's gonna be good actors, there's gonna be bad actors, there's gonna be traders that make good decisions, and they're gonna there's gonna be traders that do really dumb things. But like to now switch over because you don't enjoy the game anymore or whatever, and say like, like, you know, it's toxic to for anyone else to partake in this, I just can't get on board with that. Like, make your own decisions, but it's just so hypocritical to me. Majority of his off audience was built doing the exact same thing.
SPEAKER_03Yeah, I think in hindsight for Ansom, I I think making it a coin uh a role evolving around him was a mistake. I think he should have just done a meme coin. Um would have been good, especially if he's tied in with pump as well. Uh would have been good to just do a meme coin because then it relies less on other characters and like people like TJR and influences coming into the space. And I think this is what him is against because he knows the the I guess the Trump Melina Libra situation where we have we have Ansom being Trump, we have Melina being TJR, and we have Libra being uh Luke Belmar. Um it's the or Cupsy. Yeah, okay, yeah, and it ends up going down and down down the spiral of influencers making their own coins and people get burned, and obviously Ansom can't control that, so you can't blame him.
SPEAKER_00But but why is that different than when these guys knew that there was some like AI slop thing that they tried to convince people was something more legitimate and made, you know, like made a ton by by hyping that up. Why is that different?
SPEAKER_04I think times were different. Like I was going through some of my old bullposts in the in the in the last couple weeks, and like the things that I was saying just were nonsensical. Like we were in this fairy tale land of like, you know, this this hamster coin should go to a billion dollars for the most ridiculous reasons. So I I can see like in that time, in that mind frame, in that mindset when everyone's doing these things that it's like okay to do then. But I do agree with you as well, like coming back to it and then saying it's not okay to do it now. Maybe you've matured a little bit, maybe like that hasn't worked for so long, so it shouldn't work again. Um, but yeah, it is hypocritical. I will say that we all did agree that the celebrity meta fucking sucked. Yeah, no one liked it. Yeah, and it feels like we're just like just doing that all like all over again, but with our own people, and there's more at risk for the space now because we're putting like the last thing we have left, like legitimately in crypto, I think, is like Ansom's reputation. From a CT point of view, right? And like if we tarnish that, like what happens to like us? Like, I already don't like telling people that I like work in this space, right? Like now, if people are sitting there saying that like the biggest personality in crypto, if something I'm not saying something bad's gonna happen, but if it were to happen, like that would be very, very bad for the space.
SPEAKER_00Yeah, I just I I want like I think I'm thinking about this in a different way. I don't think this is a creator coin celebrity meta narrative, whatever. Ansem has been very clear that, like any of the other stuff, he's not endorsing people to do this creator coin stuff. His coin specifically, and I understand the ticker is his name, I get that, but he made it very clear why he's doing it. It's basically a movement that is being created that is like, hey, he's just one person and he's giving back to the community more than Pump Fund the entire ecosystem operator is. That's what this is based on. It's not a creator coin, it's not a celebrity like buy it because of his name thing. Like, like that's the fundamental difference. And that's why I say ignore all the other ones. Those are like a basically an attempt by the traders and trenchers and deployers to create a meta out of this. That's not that's probably not good. But like, I don't think what this coin is is a representation of a creator meta. I I think it's that it's it's proving a symbolic point that like there's one person giving back more than Pump Fun is, and that shouldn't be the case. And there's people rallying around that, and so there's a clear narrative of like it's funny, it's ridiculous, but they're saying, like, you know, this ain't this black bull coin flip pump fun. Like, that would be to point out like the outrageousness of what Pump Fun promised on and didn't deliver. And I think that's why it's a powerful narrative. It's explosive because if that were to happen, now we don't know if it'll actually get close or it would, but if that were to happen, like that would be a like a massive thing for people to rally around. It would give it would force Pump Fun's hand. Um or it's coordinated, whatever, but like either way, I think that's a beautiful narrative that they crafted.
SPEAKER_03So I don't think it will force the hand because it's like it's just there's no competitor. The only thing, like I said earlier, the only thing that would force the hand if he if he done it on a different platform. That would be the only thing where they would change. It was his historically, what happened as well, they would only do something when a competitor done something. We saw in April, last April, when when Bong started to take market share, they changed. They changed, they they they were they were adapting to what people wanted because they lost money, their revenue is impacted. Here, they're just making money, they're just making money, so nothing's gonna fucking change.
SPEAKER_00Um, I think that's the point though. If they don't make any changes as a result of this, then it's like everything we're saying is the case. It's like we know what this is, everyone move on, right?
SPEAKER_03This is the thing people won't, people won't move on. That's that's what I'm saying. I don't think people will ever move on. Um, and they don't need to change. But I I I I think this is it is so what if they do make changes though?
SPEAKER_00What if they do do a big airdrop? What if they you know change some of the things that great, but it's I think that's what the movement is for, is my point.
SPEAKER_03Yeah, I I I honestly I hope so. I hope so, but I think that's on the basis that it is coordinated. I think if it's not, then they're not gonna do anything, they're not gonna move. Um they're gonna do what they always do. They uh they've been under so much uh pressure before, um, where they simply do nothing. And I've got you've got to admire it because they're really good at that. They're really good at catching loads of shit and knowing they are the default platform and they're never gonna lose. And they don't change anything drastically. I think they are gonna drop. I think they're gonna airdrop, but that's on the basis that I think this is a lead up to it. I think this is a lead up, and yeah, like we said before, this is a coordinated situation where you know the Ansom's driving people back to um back to Pump back to the Pumphon app. Um I it that that that is the key, that's the key thing for me, what what makes me think that. I think Ansom being Ansom, he knows FOMO is the leading platform for this situation. And then not just because this show is sponsored by FOMO. I just think they're leading in this space, they're leading in like what that is, and shilling that Ponton app and on the basis that it is kind of a becoming a FOMO competitor.
SPEAKER_00Is it possible that this started out, it wasn't coordinated, and then something was agreed upon like after the initial call out? Like I think that's a possibility as well.
SPEAKER_03I I don't I don't think so because Anson before wrote it off. He wrote off memes. He wrote off memes before, and he was like, Oh, I don't think it's coming back.
SPEAKER_04Yeah, and then he starts his show, which is the perfect platform to shill this on, coordinated with FaZe, who has a huge norm like retail trader pot like following. Then he starts subtly like this is a well-calculated step by step by step by step thing, in my opinion. I start, I mean, or maybe I've just like been here for too long and I'm like so fucking deep in it that I think that that's happened and it's truly natural, but I struggle to think it's not. That doesn't mean it's bad though. Doesn't mean that it's bad. Um and like pump pump needs volume to come back to the trenches to make more money, right? How do you bring volume back to the trenches? You launch a very successful coin with Ansom, you airdrop money, you give them a stimmy. The stimmy is gonna be less money to pump. The stimmy is nothing to pump, it's zero dollars. They're giving away free money to people, they don't give a shit. And all it's gonna do is drive volume and drive revenue back. They're gonna give people fake money, which is their own token, which is worth fucking zero, and they just create it out of thin air. People are gonna sell it and go gamble on their platform, and then they're gonna turn that into real money. Yeah, like why wouldn't they airdrop it now? That's exactly what they're gonna do.
SPEAKER_00Okay, so so next level question. Next level question for you guys. If this is the case and this is what's gonna happen, then is the pump fund token a buy or no?
SPEAKER_03No, no, I don't think so. They one, they have it seems like unlimited unlocks, and two, they got a lingering airdrop. Soon as that airdrop maybe buying post airdrop. Buying post airdrop, yes.
SPEAKER_04Dude, they have they tweeted out yesterday that they've bought back and burned 400 million dollars worth of pump coins. Not a fucking chart.
SPEAKER_00It's very that's what they tweeted out. They said they burned it. They said they burned also, huh?
SPEAKER_04But bought back and burned 400 million pump tokens.
SPEAKER_00That chart is that's seen. It's mathematically impossible. Impossible. That's what I would love to know.
SPEAKER_03What is the liquidity overall across all the uh everywhere? What is the overall liquidity of pump fund look like on the like what is the USD side? Uh well, I think it's like listed in everywhere in USDT. What is the USD USDT pool of the pump fund token? And it's definitely not nowhere near 400 mil. No way, no, nowhere near fucking 400 mil maximum.
SPEAKER_04Uh, didn't didn't didn't they have a famous tweet saying that just because you send coins to an exchange uh doesn't mean you plan on selling?
SPEAKER_00Yeah. The aggregator I'm looking at says uh just under 16 million of liquidity on chain.
SPEAKER_03That's on you mean to tell me, yeah, on-chain liquidity. I would say most people who are buying pump are buying it on on on-chain, they're not buying it through exchanges. Maybe that's a bold thing, but what's it telling me? Maybe a little bit of exchange, yeah. Yeah, so 16 mil or 400 divided by 16.
SPEAKER_00We know there was a lot of selling on off on centralized exchanges. I don't know about the buying, but a lot of selling.
SPEAKER_03Yeah, 25x. They bought back 25x of the liquidity pool, and the coins gone down. That makes a lot of sense. That makes a lot of sense. I don't know, guys.
SPEAKER_00So, okay, okay. Sorry, last comment on this though. Just I'm just tinfoil hat. We've been doing some tinfoil hat stuff here. There has been a lot of selling into these unlocks repeatedly with pump. Supposedly the buybacks, maybe they were meant to offset the if they actually happen, they were meant to try to offset the selling or whatever. What if the the airdrop is timed around a time where a lot of the unlocks set a lot of the VCs are out? A lot of the people that had their bags have been able to sell the majority of it. Um, and now it's time for the next act where you you sell it all off. And then we see this happen a lot of times with VC coins, right? Gets sold off down 90%, and then you have like the U-shaped recovery. Could be generous. Could that be part of the coordination?
SPEAKER_03Could be G could make sense. Could make sense. The VCs upload their tokens because like they would have been unlocking at crazy valuations, and then they're gonna drop and then uh guys send the coins and they pump it.
SPEAKER_04This would be the ultimate move by people like alone, named Alone, to do that to people.
SPEAKER_03He is low-key genius. I gotta give it a chance.
SPEAKER_00To pump the token, right?
SPEAKER_04No, no, no, it'd be brilliant to just play this long game of shaking everybody the fuck out, like a year shake out, and then just make it go vertical, and then just make it go fucking vertical, generational shake out.
SPEAKER_03Honestly, shit like that wouldn't surprise me, man. I these guys are so unpredictable.
SPEAKER_04Our world class, I'm not gonna call them criminals, but world class, I don't know. They're sub they're they're they're good at what I think they're smarter than people give them credit for.
SPEAKER_00And one more layer to this. I think everyone assumes, oh, if we were going, if they were gonna do this, wait until after the airdrop, because when everyone gets the airdrop, everyone's gonna sell their airdrop and the thing's gonna dump, right? Okay, so when would be the absolute best time to send this chart once you've gotten shaken everyone out? They all think, oh, maybe I'll buy after the airdrop selling is done. Boom. Send it so that the airdrops happen, and instead of a dip, the token just goes vertical. Everyone sidelined.
SPEAKER_03We might be dreaming it, folks.
SPEAKER_00Not financial advice. This is probably not gonna happen. I'm thinking about buying Pump Fun token, but don't probably don't do it.
SPEAKER_04That's what Uniswap did. Uniswap airdropped at four bucks and they sent it to 20.
SPEAKER_00Yeah.
SPEAKER_04Like within a week of the airdrop.
SPEAKER_00I think the airdrop selling is like it's really tough because maybe it's 80% of the time it really does mean airdrop selling and you're gonna get hammered. But it's like the perfect Psyop opportunity.
SPEAKER_03Yeah, yeah, it is. Could be generational.
SPEAKER_04It could be generational. I was saying, I want to go back to Black Ball, and the biggest thing uh there's so many fucking layers to this. The one thing I think is really important to talk about is TJR's involvement in this because that's really bad to me. Like, I can't get on board with that. That like, and Ansom Ansem and FaZe had him on their show last week, was it? Yeah, also as like a precursor to this. And TJR was also just apparently on the show last week before the coin gave him a lot of stuff. Oh, I didn't know. We have that we have that little thing going on here that no one seems to talk about. But TJR is like a bad dude. He's historically done skills.
SPEAKER_00Can you guys can you back up for me? I'm sorry, I should have done prep on this, whatever, but I don't know who TJR is. Can can you can I get can I get a filled in on this?
SPEAKER_03I'm gonna send his Twitter and I'll group chart right now. Basically, he is um he's at the day trader of TikTok. He's the day trader of TikTok and IG reels.
SPEAKER_00Um for stocks and like he is he crypto or is he not crypto?
SPEAKER_03This guy, you follow him.
SPEAKER_00I followed him yesterday. No, no, I I saw the account yesterday. I followed him, but I I haven't figured out what's the law, like what's the history, what's the lore on this?
SPEAKER_03He's really big on uh TikTok and and Instagram shorts. He does really well. He mastered the clipping game early. Uh he blew up off this. He sells a course, uh a day trading course. Uh his his background is awfully uh nefarious to say the least. Um he's been through the ringer. Uh he's rugged a few coins, rugged a few crypto coins in his time. He even done a rug live on stream once. Um he literally just he literally was sat there with axiom open and goes, oops, I just sold and the coin rugs. Um he's uh I think mostly everyone has a negative opinion on TJR. Um, I don't think the normies necessarily have a negative opinion on TJR. He has a very big cult following. Um, but to say this guy is this guy is the guy who's gonna save us, I'm troubled. You know, I I don't think this is our guy.
SPEAKER_00Like Well, by the way, can can we pull up the chart for the TJ TJR chart? You guys see what happened? Yeah, we'll just get a chance.
SPEAKER_03This is a fucking generation.
SPEAKER_00Oh, this is the old protect.
SPEAKER_02Okay, wait, wait, wait. Wait, who's told? Who's told? Sniper's told. Wait, wait, let's put it, let's put it, let's put it cook, let it cook, let it cook, let it put it. Let's do it. Let's just see, let's just be crazy. Let's just see what happens.
SPEAKER_01Let's just see what happens. Bro, the meme coin world is fucking insanity. Dude, there's a bun. There's wait.
SPEAKER_02Wait, what the fuck? Bro!
SPEAKER_01What did we sell?
SPEAKER_02We made wait, that's not a dude, that's not horrible. That's not okay. We have to give that shit like away. I didn't even realize that's horrible.
SPEAKER_01That's how we get nerve, bro.
SPEAKER_03That's that's a bad one.
SPEAKER_00Oh, that's pretty cringe.
SPEAKER_03Yeah, that's a real, that's a real bad one.
SPEAKER_00But this chart we're showing now is not the one we were just playing the video. This is yesterday's coin.
SPEAKER_03Yeah, yeah. This is this is yesterday's.
SPEAKER_00But to be clear, so actually, I think we sent it in the chat. He didn't sell this one, right?
SPEAKER_03No, he just said we should concentrate liquidity into Ansom's coin. I think Ansom probably spoke to him and was like, bro, stop doing what you're doing.
SPEAKER_00They they shared the text message chats on the timeline today.
SPEAKER_03Yeah. Oh, there you go. Yeah, there you go. Um probably uh probably for the I guess the best decision out of out of what could have happened.
SPEAKER_00Um so last night TJR tweeted, this is when I followed him. He he said, you know, because the coin ran from it ran to like 25 million market cap or something like that. Yeah, um, I don't know how how much of the supply he held. I think it was like 80% or something, but like it ran up and then it was it was pretty volatile. And I guess he was like, I'm going to sleep, I'm gonna talk to Ansom in the morning about what I should do because I'm not sure what to do about this.
SPEAKER_05Yeah.
SPEAKER_00Uh, because I don't know what had happened. He airdropped some of the supply, but he uh had he endorsed this, TJ?
SPEAKER_03Uh I I think so. I think so. I think he did. I think he said something about it. It wouldn't have gone high, you know, it wouldn't have gone high if he did.
SPEAKER_00So I'm gonna assume. So he so something like that happened, and then he announced he was gonna talk to Ansim in the morning. It dumped from like 20 million to like 10 million just when he said he was going to sleep. Classic. And then he and then this happened this morning, and then pull up the chart now of what happened when this when he sold it.
SPEAKER_04That's the him tweet I just shared. Ooh, that's a bad one.
SPEAKER_00It went from straight from 15 million market cap down to you know nine, 95%.
SPEAKER_03Yeah, yeah, zeroed.
SPEAKER_00But uh classic him tweet here as well. At the same time, like this is like this is where I'm gonna call it. Like, I don't think the him response is necessarily like this was when you saw what was going on with the price action, I get the FOMO notifications and stuff. It was all your in this coin, it was all your classic momentum pump and dump traders. It was like you had Frank buying uh sorry, I don't I don't mean to call it individuals peep individual people, but just for example, like you had a couple people buying 10, 15, 20k and then selling like two and a half minutes later. And then like this is the type of price action on a low float coin where the guy was publicly holding like 70%. So it was just super volatile. But like to me, this was more about like this is a beta, it was very unclear, it was based on one person, and then you had these traders who were trigger fingers waiting to like trade outcomes on it. So um, this was always gonna happen on this one.
SPEAKER_03Yeah, yeah, I think so too. Um, I think he actually came, he launched this with the intention of actually running this and going like, oh, I'm gonna flip Ansom coin, and then probably Ansom reached down and said, like, yo, this is a fucking bad idea. I think Ansom's trying to prevent Ansom's defending him.
SPEAKER_04Oh, was he? Hold the tweet, Henry. I just said he didn't launch it. So apparently Ansem's saying he didn't launch it, and Ansom is defending his TJR's honor out on the TS.
SPEAKER_03So he didn't endorse this.
SPEAKER_00Yeah, so I don't know if we can see the comment above. Someone like called him out and then Ansom. Okay, yeah I mean fair enough. Uh he didn't say he didn't sell. He he actually was holding still is holding all the supply on his on he went on he started a FOMO account yesterday. TJR. Put I don't know how much 70% of the I'll pull it up. 70% of the supply that was sent to him.
SPEAKER_03Um interesting that TJR went straight to fo straight to FOMO, by the way.
SPEAKER_00And uh that's the best place to get well actually the coins down at 22k market cap now. Is it complete zero? Yeah, I think I don't see TJR holding the coin anymore on FOMO, so I don't know what happened there. Probably just deleted the did he end up selling after this or no?
SPEAKER_03Maybe potentially just to get it off his wallet, make sure no one no one else puts it.
SPEAKER_00Oh no, no, I'm I'm in the wrong one. Sorry. Yeah, he's still holding uh 790 million. He's holding 79% of the full supply.
SPEAKER_04Yeah, and so he's big and black and I'm bullish.
SPEAKER_03Okay, fair enough. Um holds 22k of it, by the way. No way.
unknownSure.
SPEAKER_00So yeah. That's obviously so. Just to confirm though, he did this guy legitimately has not sold the coin. Um he didn't buy it. No, he didn't sell it.
SPEAKER_04So he hasn't done anything nefarious here. I just think I just don't think like this piece of it to me feels icky. The TJR connection feels icky to me.
SPEAKER_00For sure.
SPEAKER_04I would like like I like I really like Ansom, and I think what he's I think everything he's doing here is really admirable. I wish TJ R wasn't involved. Um, that would make me feel better about it.
SPEAKER_00For sure. I agree with that.
SPEAKER_04You can't have everything you want, I guess. But you know, all in all, I think what now we we've we've talked about if we like it, if we think it's good, if we think it's bad, but what do we think this coin says about the state of the space in general? I just think we have what do we think it does going forward?
SPEAKER_03I think we just have we just have nothing left to trade. Like like like we said, I think we said this last last episode, there's like coins just getting remade like from literally two years ago, like the same cat coins getting remade. Um and they're trying to run it. I just don't know what coins there is, like what's new? What is new anymore? Um it's just tough to see. It's tough to see the vision of the trenches anymore. Maybe someone can um can give me the trench pill and tell me why memes are gonna lead the next cycle and be back better than ever. But like what memes? You know, what memes have we not played already? What memes have we not uh seen and uh seen and done done before? I you know, I think the silent winner in all of this is unironically FOMA. These guys are the winners no matter what happens. Um they've created this where everyone's like they go, it's the default, it's the default, and if the trenches are back, they are gonna win. If the trenches still fall off, they're they're still gonna probably win um through perks. Like I yeah, I think they're in a six spot here.
SPEAKER_04But yeah, I do agree that FOMO's the winner of this, regardless of what happens, because a lot of this is happening, a lot of this trading and volume is happening live on FOMO, um, which is great for them. Um all attention is good attention, and their reputation's not on the line here, right? Like it's just like good for them, they can amplify it and draw more people in.
SPEAKER_03So yeah, it's actually been a pump fun update while we're speaking here, folks.
SPEAKER_04What is it?
SPEAKER_03Tokenized agents have been removed. That's it. Um wow.
SPEAKER_04I agree with you. Oh, wait, go on.
SPEAKER_03Yeah, no, I I just said I was gonna say they they say increased number of launch options have led to needless PvP, and this is the first time they've ever mentioned uh PvP and trying to do things to combat this. Um I haven't actually read anything.
SPEAKER_00Um that's actually interesting though. Another layer, another layer of the so-called uh SATS coordination scheme.
SPEAKER_03Yeah, it's the first time they've ever mentioned anything to do with PvP um and combating PvP. Because usually, you know, Pump Fund notoriously uh love PvPs. Uh it's good for business. It's great for business in fact. Yeah, it's great for business.
SPEAKER_00Um this is way too coincidental, huh? Or it's all to be fair, it could be that they're respond again, they could be responding to the pressure, or it could be part of the coordinator. It's all either way, PR. Either way, it's an interesting and potentially positive development.
SPEAKER_04Hopefully. Um I think this says nothing but bad things about the trenches I mean crypto. Like the fact that this is the only thing that can get people fired up, and we're like having to like manufacture narrative um within ourselves now, it just means that like no one else gives a shit. There's no one else to buy our bags, there's no one left who cares. Funny enough, you know, the people who like this and are really into this, this might be controversial, are the people who gave their money back and are still here trading. You know, I've noticed a lot of the people that kept their money and didn't give it back are hating on this and being like, this isn't what we need. Um and that's a really interesting dichotomy, I think. Yeah, I think it says a lot about the coin and the state of the crypto right now.
SPEAKER_03Yeah, I think a lot of these guys just uh checked out though, you know, they're literally just trading stocks, which is uh speaking of stocks completely vertical. Um looking looking like they're going back to all-time highs. Uh Bitcoin on the other hand. Uh I did say at the start of the show we're we're we're we've made new, like we've made new lows, but we are literally danger close to new lows here, folks. Absolutely danger close. Danger close, danger close. It might happen on the show. That's how close we are to new lows. We are we are 0.3% off new lows on Bitcoin right now.
SPEAKER_04Um 58.115 is our low. Yeah. So we we are swizzle. We are dangerously close.
SPEAKER_00Nothing to see yet. Nothing to see yet. By the way, by the way, by the way, as I said, don't hold any bitcoin. Lighter, lighter long looking good. Lighter long looking.
SPEAKER_03Is that up right now? Fuck.
SPEAKER_00Take a look.
SPEAKER_03Oh my god, bro. Oh my god.
SPEAKER_04Is it ripp is a ripping?
SPEAKER_03Yeah, you know what? I marked out where I wanted to buy. Yeah, and I didn't end up doing it. This is when lighter nuked, and I was like, oh fucking out. Thank god I didn't take that position. I was marked out where I wanted to buy at one uh 1.56, 1.56. Um, now at nearly two. Um, fuck. Hey, that's funny, Sats.
SPEAKER_00You know where I bought? Oh, is it there? 1.57. I actually bought much lower and I shook myself out multiple times. I I flip-flopped over and over again, but uh re-re-entered my size right where you're talking about.
SPEAKER_03Yeah, that that was the point. That was the infection. I was it was literally I literally low, I moved money to ETH and everything. I moved money to ETH, I moved like decent size as well. Like I would say 75% of my usual size. This was gonna be a decent position for me. And I was just like right at the end, right at the end, uh as I opened up uh things to buy, I was like, I just you know I have a bad feeling. I I should just stick to how I'm how I'm feeling and uh not participate, just just remain patient. Um, and I didn't end up buying.
SPEAKER_00Uh kind of so I was actually I was actually very upset because if you look down at the bottom there at like sub a dollar, if you guys remember our friend Rob 100x, he was he started bullposting lighter like at like 0.8, probably 0.85. Um and I was kind of I took a dabble and then I was like, I didn't really see the vision yet. And then I sized in considerably around like just over a dollar, like a dollar and five cents or something like that. Got shaken out multiple times. It was it was ranging from like 80 cents to a buck 10. And then I finally I like top blasted, got back in around like 120, wrote it up to that point you're talking about. And then after the first kind of pump, when it retraced down the line I had was actually like 155. When it when it started to look strong and held there, I was like, okay, it feels like this has it has like I don't know who's defending that chart, but like they were doing it. Yeah. Yeah. Someone with some juice, someone with some juice was defending some lines there.
SPEAKER_03Uh this is an annoying one because it's like I I would have if I was really paying attention and I was fucking locked in, I I would have caught this like 100%. Um like this is a trade I usually do really well on. Like, this is one just holds EMAs. It's a fucking easy hold from like one dollar. So a bit annoying, but maybe a sign I should uh I should pay attention to some alts.
SPEAKER_00But it's still just like I feel like it's going really under the radar. There's not a lot of attention around it because like there's all this stuff controversial having in happening in the trenches. Bitcoin's so weak. There's these other like AI privacy related narratives that were kind of stealing the mind share and dialogue, and then it's like still pretty low cap. So It just feels like uh I don't know, it's it's weirdly um like it's just not being talked about in a bunch. I think it's just because of like the weird choppy state of the market we're in.
SPEAKER_03Um it's a bit of a weird one as well. CT, I I don't know if it I think the trenches uh I kind of want to separate the trenches and CT now, but it feels like there's still so many people here and Bitcoin's been down for so long. Um and that wasn't the case last cycle. But like by the time this cycle oh like when we were at this point last cycle, CT was a complete ghost town. It was the same fucking 20 people um tweeting, and now it still feels booming. Still feels booming, it still feels like all the guys are here. Um I guess that's like because the trenches aren't really affecting on BTC anymore, they don't really rely on it. So we're weird state in crypto. Weird state.
SPEAKER_04Um you think if Bitcoin makes a new load, we won't even we won't even sneeze. What in the trenches? Like trenches, etc. Yeah. Nah, yeah, I don't think you think we're totally uncorrelated.
SPEAKER_00No, I think we'll sneeze hard. Yeah, to be clear.
SPEAKER_04I'm sad to say we're uncorrelated.
SPEAKER_00No, I think if Bitcoin loses 58 here, I I think we think Ansom goes down. I think everything gets uh takes.
SPEAKER_03I don't think Ansom moves. I don't think uh like Bitcoin's down three percent today, Ansom's gone up.
SPEAKER_00I think I think this 58k line is a very consequential like like I don't think anything happens until it until it makes a decision there. If it loses 58, I think I think we see a cascade down across the board. And this is as someone who's holding coins right now.
SPEAKER_03So I would hope so, but I don't I don't think so. I think I think I think this Ansome coin is completely separate. None of the trend, like if you ask the average trencher, they don't even know what the price of Bitcoin is.
SPEAKER_00Okay, maybe that. What about what about like um what about like lighter hype Zach?
SPEAKER_03They'll all they'll it'll be short term, it'll be short-term wicks down, and they're once to buy 100, 100. If I get a big nuke on lighter, I'm buying it straight away and I'm holding it for a green day on Bitcoin, and it's an easy easiest trade ever. Like these strong coins where like a coin like lighter is what's lighter's up today, no? Yeah, light is green today, massively green today. Like this is easy. If you get a big wick down on this, it's an easy buy. 100% financial advice. No, not financial advice.
SPEAKER_00Not financial advice, but I do think people like pay attention to lighter though. Yeah, definitely. This is a coin to watch, and I know it looks like it's gone up a lot, but I don't think you've missed yeah. I don't maybe you missed like the early, the easy part. I I don't want to say it's easy, but I I think there's I think there's room here for this to potentially under light conditions be a really good trade because mine share isn't quite there yet. You know, what happens if it gets full mind share?
SPEAKER_03Yeah, I agree. I I think light is the only one I'm really paying attention to right now. Like an actually actually wanting to buy more of. There's not an not a single other coin in the market what what makes me want to go, oh, I really want to buy right now.
SPEAKER_00And we're talking so it's sub 500 million market cap still. Um yeah, it's got legs. You know, if if it were to have a a Robin Hood-related catalyst, like you know, sat the SATS theory. Uh if it were if it were to just continue to turn up a little bit on its uh relative uh notional volume numbers to hype, there there's a few like very obvious catalysts that could ignite this thing.
SPEAKER_04So did you see our boy uh XY tell SATS to be careful?
SPEAKER_03Yeah. My thesis. What the hell, bro? What the hell?
SPEAKER_04The other thing I want to talk about though is Bitcoin, though, because this is I do I agree with Russell, it's consequential. Sailor comes out saying he's gonna sell 1.25 billion and the chart is chopping still and holding 58.115. I think it says a lot about how badly people want Sailor out of this fucking coin. And that maybe it's better if if we hold this line, it means that people are bullish and selling.
SPEAKER_03Yeah. Um and one 1.5 mil is a drop in the ocean, though. We're not even gonna notice something.
SPEAKER_041.25 bill?
SPEAKER_031.25 billion, yeah. It's like it's not that much. Um like that actual number is is is nothing. I guess it's the actual the actual premise of him selling. But that in the grand scheme of things, it makes no difference to his holdings. Like how much does he hold in total? BTC holdings a dollar amount. Um he holds um 54 54 billion. So selling 2% really of what he what he owns. His total cost basis is six sixty-four billion.
SPEAKER_04What do you think his selling execution is gonna be?
SPEAKER_03Um probably OTC.
SPEAKER_04No, like price wise.
SPEAKER_03Yeah. Yeah, yeah, 100%. I feel like he gets fucked by an OTC desk. I've had this theory in a while and everyone's called me a retard, but I think he gets fucked by an OTC desk on executes. Um hundred percent, it will be the lowest tick. It'll be the lowest tick, and we'll pump after as well. Oh man.
SPEAKER_04Um I don't know. I feel like we're gonna lose this level.
SPEAKER_03I think so too. I hope so. Don't want to be that guy, but I don't want to be that pumped.
SPEAKER_04Are we holding 58?
SPEAKER_00Hotel. Yeah, I think we're holding. I think we're holding, but I don't know, man.
SPEAKER_03I don't I don't know. I just think we need to rip the band-aid off, man. I rip the fucking band aid off.
SPEAKER_00I think I think eventually, good chance we go lower. I don't think it's gonna happen right now. I'll say that. I I think this chop, I think I said it last week. I think this chop is gonna hold or has the ability to hold longer than people think. Um, I think we need to see people flip from bullish to bearish to bullish to bearish a few more times. Um I think we revisit into the 60s, low 60s, back to here. I I think we have several months, you know, it would actually be better if it just happened now. Yeah, if I'm being honest.
SPEAKER_03I I honestly it'll be so good if we just rip the band off straight down to 55, low 50s, and then we can begin chopping. Then we can be begin the the the great shakeout, which is common with every cycle and how it starts. It literally chops for months and months on end. Everyone gets bored, everyone convinces themselves it's over, and then it slowly starts to grind up.
SPEAKER_00I think my point is though, like, look, I can't assign like a probability to it. I think we have to acknowledge it's possible that's where we are at now. That there is an outcome because everyone does think it's over. Everyone assumes lower. A lot of people are starting to think, oh, I will buy the next leg down. And like this is where I think some people are gonna get impatient, they're gonna buy now, it's not gonna go up, then they're out. Like, that's why I think this is like a sneaky, all the sailor selling stuff. There's a lot of sneaky reasons why this could be like a weird bottom shakeout because everyone is now finally accepted lower. You know what I mean? Um but but I don't know. Like like you said, the best thing would be it just goes down hard and fast, finds a floor, and then we stabilize. Um, I just think it it's too easy that way. And and we're only in the in summer months right now. Um, I don't think we're gonna get it that easy. I think we're gonna experience some more uncertainty in CHOP.
SPEAKER_03Yeah, I kind of I'm missing the days of the the great the great band-aid ripoffs where we get that minus 11% day and fucking we've had a few of those to be clear.
SPEAKER_00We've had a few.
SPEAKER_03I feel like it's it's been it's been it's been a little bit since we've had the the double digit down days. Um like when was the last one?
SPEAKER_00Probably like February, like yeah, but like we had it in uh we had it in October, then we had it in December, and then we had in January, and then we had in February. We had a lot of them. Um we could certainly have one or two more. I'm not ruling that out. I'm just saying, like, you know, it's not like it's uh oh, we didn't get it this time.
SPEAKER_03Yeah, we've definitely had them. I saw one guy as well. I won't be able to even find, I think I can't remember his. I used to used to be big in the trenches and uh he used to be a big perps guy as well. But yeah, he said um he zeroed out uh yesterday. Um and he was like too. Yeah, he just he just never recovered from 1010. Um I think a lot of people were in the same boat. I think he's the probably the only one who's being completely honest about it, but I think yeah, 1010 really scarred this industry more than people anyone would ever realize. Yeah, it was it was really, really bad, man. It was so bad. And uh it'll be one of them ones uh everyone who experienced this cycle will will reminisce on in uh the coming years.
SPEAKER_04Yeah, yeah. It's I mean, dude, that day was fucking insane. I remember being in the car driving my kids somewhere and seeing Adam go to zero dollars. Uh I had a bunch of money on uh hyper liquid, and I I think Bitcoin was at like I forget, but it was at some preposterous number. It was trading like 30% lower on hype, and I 50x levelonged like 30k and made a bunch of money.
SPEAKER_00Did you really five?
SPEAKER_04Yeah, dude. I was in the car driving my kids.
SPEAKER_00That's DG and as hell.
SPEAKER_04I was degenerately trading uh price discrepancies on hyperliquid in the car with my kids while I was driving. Don't do that. Not so.
SPEAKER_03I remember I remember I was playing, I was playing Battlefield, I was playing Battlefield, one of the I think the new Battlefield came out or something. I remember one of my friends joined uh like like our team speak, and uh, he was like, Oh my god, have you seen the Bitcoin price? And I was like, huh, what is it down? Like like joking. I was like, what is it down three percent? He goes, No, it's down 15. And I was like, What fuck? Am I I I literally went to check my uh per position, see if my whole fucking account got wiped out, but um luckily I survived.
SPEAKER_00So on uh yeah, Sats, I was nervous for you because you your your past, I was like, I I worried you were holding a lot on like you know, 1.5x leverage or something like that. It could have been bad, but thank you. It could have been real bad.
SPEAKER_03It I I got it's another one of them I got out by literally the skin of my teeth. Like I it was I closed the position like the day before, the day before that, and it was like it was another one. I had a similar situation in FTX. I was told that story before here where it was like um I I got out, I I got hit, but I got out like and didn't lose fucking everything and get cleared out to zero. Um, but it was another situation here, like yeah, I spoke about it before, but I I when I trade perps, I I trade with size and on like 1.5x, like 2x, really low lev. Um, and this this would have wiped out 25% of my net worth if I had a perps position open. Um so yeah, I got lucky there.
SPEAKER_00I got lucky, but so I will tell you guys, uh I think I've told you this story before, but on 1010, I was playing in a charity golf tournament with my friend. And um thankfully I I was all spot. I didn't hold it, I didn't have any perps positions open. But like I held like 2% of the supply of useless at the time, right? And like a couple other things. And then I held a very large Solana spot position. I was holding Bitcoin. Um and I'm playing in this charity golf tournament and actually playing like the round of my life. And we're in first place in the tournament. We're on like the we're on like the eighth hole or whatever, playing great. Um my buddy takes a call, like in between holes. We're waiting for the other people to tee off. He goes over and I find I find out later that it was my uh my friend who who's you know more tapped into crypto, and he literally said, Hey, like don't tell, don't let Swizzle look at his phone. Don't let him see what's happening. He keeps his phone off because like what's happening with Bitcoin right now. And so like there was a couple times like reach into my bag and my buddy was like, dude, like lock in, like, don't worry about that right now. You can check it out. But anyways, we we we get to like a little break, and I pull out my phone and I see, and at first I'm like, oh, this is a glitch. Like the Coinbase app is bugging. I have all I have like a hundred notifications of like, you know, avalanche down 90%, whatever. And then I see the price of Solana, I see that I see that useless has wicked from like 350 million below to like below 100, like literally like 50 million market cap or whatever. And I just blacked out. I just I literally triple bogeyed three holes in a row, uh, just nuked our tournament completely. And uh and and and then it was nice because I just like I was like, uh it already happened, I'm off my phone the rest of the day. Fuck it. But like it was the most insane, insane shit. And my friends literally tried to keep me off my phone to check it. Uh wild stuff, man. 1010 was crazy.
SPEAKER_04Uh and oh my god, I just found our messages from 1010, Swizzle.
SPEAKER_00No way, yeah, yeah, yeah.
SPEAKER_04Oh my god, I just looked at my phone. What the fuck is happening? Dude, I'm on the golf course. Is this real? I can't even access my phone. Of course, I'm fucking nowhere near a computer to access my phone. Jesus fucking Christ. This is really bad.
SPEAKER_00This is on a ledger at home, too. So there was nothing I could do. I wanted to panic sell so bad.
SPEAKER_04And then he just said, ah fuck, man. I'm just gonna turn my phone off and deal with it later. Jesus, man.
SPEAKER_03I distinctly remember the.
SPEAKER_00I can't believe you saved those messages. Yeah. Well, there it is. That's proof. Uh we did not win the golf tournament. In our chat. Yeah. You did not win the golf tournament.
SPEAKER_04Thank God I have no leverage, but man, I'm still boned, and I have no clue or visibility into how bad. No visibility into how bad.
SPEAKER_01Doesn't even know.
SPEAKER_04You're just as strong as fuck, Swizzle. And I and you said uh what's that? 280 lol, and that's relative. Fuck me.
SPEAKER_03Oh man. That was a tough day.
SPEAKER_00Yeah, that was a rough day. Rough day. That's the thing. I was with all these people, and they're they saw, oh, do you guys see Bitcoins down? I'm like, yeah, I fucking saw, man. Like, you guys, why are you guys not freaking out?
SPEAKER_03Well, I'm I don't even want to speak like especially useless. I actually think that went down like 95% in the world. So bad.
SPEAKER_00Um I've been invited to play in like three or four additional, like you know, whatever, golf tournament things over over the last several months and just hard no on all of them. I'm never playing it, I'm never doing that again. I'll never play in a golf tournament again.
SPEAKER_03Yeah, you know what's gonna, you know what's pending when you load up to one of them now. Yeah.
SPEAKER_04Oh man. Um, all right, let's wrap it up here, guys. Um, good chatting. Uh curious to see uh let's do before we leave, and some black bull price predictions before uh by Friday next show. It's at 135 right now, I think. 137. I think we have a pretty big dip here, and we get the it's over dip in the next few days. Only for it to rip back. I'm gonna say we're sub we're like 70 by Friday. But I don't think it's over. I think we rip higher after that, but I think we get the oh fuck, it's over candle down soon. So I'm getting 70 million on Friday, but we rebound after.
SPEAKER_0070 million? So are the highs in? Are you saying the highs are already in?
SPEAKER_04The low no, I'm saying local highs are in. I think we get a second leg.
SPEAKER_00Yeah, yeah, but you're saying no, no additional leg here. Highs are in.
SPEAKER_04Highs are in. I think we go lower, consolidate, go lower.
unknownYeah.
SPEAKER_03I would I would buy I would buy that. I would buy that. I don't know what's gonna happen though. I fucking can tell you what's going. No idea.
SPEAKER_00So would tell me what to do. I should sell.
SPEAKER_04I would sell here. I mean, I'm not a trader. If if if if you believe this goes higher, just fucking hold it. But uh, you know, that's my philosophy. If if I think if if if I'm convicted in something, I will just hold. If there is a big pullback on this, I will probably be a buyer.
SPEAKER_00Wow. Would buy an on-chain bags. Interesting.
SPEAKER_04I did I did publicly announce that I bought close to 1% of Kintara only for fucking Black Bolt to just suck liquidity from everything.
SPEAKER_00So that's although things like that are kind of weirdly holding, right?
SPEAKER_04Yeah, dude, Kintara looks great.
SPEAKER_00I'm you would have expected these things to dip. I I guess they've just they did dip initially, and now it's like the sellers of those things are out. Maybe there's some people pre-positioning into a few. I don't know which to honestly, I'm not like close enough in the trenches to know like which are the ones people would be pre-positioning in, but it seems like there's a few that have a chance. It may be wrong, and maybe there's not this liquidity wave to the next tokens, but people are seem to be positioning as such, like the old days.
SPEAKER_04Yeah, yeah. Well see, I don't know. I'm bullish, I'm bullish Kintara. I would like to buy a black bull pullback, but I think we gotta oh fuck, it's over. You guys are idiots. Ansome is an asshole to candle.
SPEAKER_03Yeah, only for the bull case, you know what the only for the Pump Fun airdrop comes in and this fucking coin flies, man.
SPEAKER_04Yeah, that's I think we're gonna get an it's so over shakeout. Pump fun uh market makers are gonna turn the jets on and fucking send it to the stratosphere.
SPEAKER_00I hope so. That would be fun. That would be fun. We'll see.
SPEAKER_04We'll see. All right, guys. Uh we'll chat. See you guys Friday, 12 o'clock Eastern. Go check out FOMO. Download it today. Uh promo code RISCON, trade RWA, trade uh tokenized equities, stocks, meme coins, black bolt coins, TJR coins, all the coins. All right. Uh be back Friday. Good shit.