0:00

The crypto markets once again took off

0:02

over the past couple of days as

0:04

news of a potential Ethereum ETF is

0:06

seeming more likely. A UK

0:09

judge has said that Craig Wright has

0:11

lied to the court repeatedly and Gallagames

0:13

has been hit by a $23 million

0:16

coin exploit. Want to know where the

0:19

crypto whales are? Well, we've got a

0:21

list of the top five countries where

0:23

they reside, and we've got

0:25

a smattering and maybe a dollop of other

0:27

news from blockchain and the crypto world. You're

0:30

here, we here, hey we may as well hang

0:32

out for a bit and have some laughs. Or

0:35

not, whatever. This is our Bad News episode number

0:37

727 of the Bad Crypto Podcast. What

1:11

are the five spoons of

1:13

fours and the threes and the

1:15

twos and the ones who's bad

1:17

catching? Hello,

1:19

so Lord Travis, it's another show. How are

1:21

you, sir? Are

1:24

we doing this accent

1:26

in celebration of Klaus

1:28

stepping down from the

1:30

world economic forum? Oh,

1:32

is the evil overlord, is

1:35

he done? I saw that on the

1:37

Twitter, the ex-Twitter shit up. If we

1:39

are saying it like we would do

1:42

if we are in China.

1:44

You will eat the bugs and you will

1:46

like it. You'll be happy with nothing. Nothing,

1:48

I say. I just want

1:50

to know where we can go to

1:53

get the same tailor that

1:55

he has because he was the very

1:57

nice, like he's like from

1:59

Star. track or something. I

2:01

don't know where he's from. He must

2:04

be an emperor overlord as well. SirLord,

2:06

don't come. Welcome to the show, people.

2:08

This is the Republic of Bad Cryptopia,

2:10

Sir Lord Travis, Sir Lord Joel here

2:12

because we can. Because why not? I

2:14

mean, I think it's

2:16

a thing. You may as well because we're here and

2:19

we've got news to talk about. And should we go

2:21

ahead and get into it? I don't

2:23

know, man. What's the fear index? I'm

2:25

so fearful. Don't be afraid, Sir Lord Travis.

2:27

Don't be afraid. The crypto market caps are

2:29

sitting at 2.72 trillion

2:31

dollars right now. Bitcoin popped

2:34

as high as 71,000 here, up 13.8 percent this

2:36

week, currently sitting at 69,705. Timestamp, it

2:43

is the 21st of May, 2.35 p.m.

2:47

Eastern Standard Time. Ethereum is what's driving it. We'll talk

2:49

more about that in a moment. 3,734 up almost 30

2:51

percent this week. BNB 614. Solana 177.

2:59

XRP 54 cents. Dogecoin almost 17. And Toncoin at

3:01

640. One of the big winners this week.

3:09

Look at that. Look at Phantom. Winner this

3:11

week. You got Phantom right there popping off,

3:13

right, along with Uniswap, the LIDO

3:15

Dow, LIDAO. Bonk

3:18

popping off, Beam popping off,

3:20

Theta popping off. There's been a lot of them.

3:22

And most of these gains happened just in the

3:24

last, basically the last 24 hours,

3:27

essentially, most of them have. I

3:30

want to actually talk about this. In the last 30 days, Pepe's

3:33

up 120 percent. Bonk

3:35

is up 50 percent. Floki's

3:37

up 33 percent. Look at all these

3:39

ridiculous meme coins in the top 100.

3:42

And I think that the

3:44

meme coins are more important to people

3:46

than actual real technology these days, which

3:49

is weird to me, Joel. They just

3:51

love the stupid memes and they're like,

3:53

yeah, it doesn't do anything, but it's

3:55

cool. Well, everybody just wants to

3:57

ride that quick 10x. more.

4:00

Yeah. So are people scared right now? Let's take

4:02

a look here. We

4:04

are in extreme greed. It is

4:06

at 76 right now in the

4:09

crypto fear and greed indicator and

4:11

moving up. So that means people

4:14

buying Bitcoin sitting just over 50%

4:17

dominance right now. Are you afraid, Travis?

4:20

I'm kind of afraid. I'm not really fearful, but

4:23

I'm not really feeling greedy either because it feels

4:25

like, you know, this seems like

4:27

the part where Bitcoin has its, it repops

4:29

back up. It's what it seemed like it

4:31

was going to do and then bust back

4:33

through that all time high is what it

4:35

kind of felt like. And so what we're

4:37

just going to be in extreme greed for

4:39

the next six to eight months

4:42

or nine months or what? I

4:44

don't know. I have to pull this. I

4:46

don't know that this is really good indicator right now. It

4:48

doesn't seem. I'm

4:51

going to pull this story up right now

4:53

just because you're talking about meme coins. This

4:55

just popped up on coin Telegraph here over

4:57

the last day. Trader turns $2,200 of soul

4:59

into 2.26 million in eight hours made a

5:01

993 X gain. And people

5:11

are accusing of event started trading as

5:13

a result. But this is pretty crazy.

5:17

That's super crazy, man. Every time I get in

5:19

one of those brand new meme coins, it's

5:22

like the contract gets rubbed. Yeah, every

5:24

time you tell me about one and I buy it,

5:26

that's what happens to me too. So

5:28

that's one reason why I needed to get

5:30

some really excellent AI behind this and do

5:33

some research on these things. Because I'm like,

5:35

this looks great. Oh, well, no, we got

5:37

it. We got to look into these as

5:39

the contract axle actually legitimate. Because a lot

5:42

of times these people will set this thing

5:44

up and it's going to be a rug

5:46

pull. However, the ones that I suggested were

5:48

cool and funny and you'd think they would

5:51

go but it's like no it doesn't have

5:53

a whiff in it or it's

5:55

not a dog meme or it's not

5:57

a Pepe with hat or Jesus.

6:01

So it's well, I think there's I what I

6:03

really think is is there's these alpha groups that

6:06

are on discord that That

6:08

they're just kind of coordinating and they're buying

6:10

and selling with multiple wallets and you're either

6:12

in that group or you're not How

6:14

about it not in it then you're you're

6:17

getting host. There's no doubt about it I

6:19

mean there's got to be hundreds of meme

6:21

coins launched every day if not more and

6:23

how many actually Get any traction

6:26

mo if anything to get a quick pump

6:28

and then a dump and then they're done

6:30

So I want to work on real technology,

6:32

dude, because these meme coins are funny and

6:34

they're cute But they don't have longevity unless

6:36

they're doge Right or built and

6:38

now people are starting to build stuff on top of that. But

6:40

it's like, okay It's it's it's funny

6:42

for a short time But it's really what it

6:44

is is get that hundred X and then get

6:46

out But I

6:48

want to find ways because I think this

6:50

is scaring new investors we've got all these

6:52

retail investors that are on the sidelines waiting

6:54

to get in and They're

6:57

just scared because they're like, oh my god, am

6:59

I gonna get hosed? Am I gonna get robbed?

7:01

My I'm gonna lose all my money. So there's

7:04

not a lot of confidence for new people coming

7:06

in I think that's why the Bitcoin ETF is

7:10

Popping off and I think the news

7:12

around the Ethereum ETF excites people So

7:14

a lot of these other ancillary projects

7:17

aren't gonna get traction at

7:19

least in the minds of the mainstream

7:21

investors because it's It's

7:23

just scary. Well, it's the original

7:26

coin that people are talking about Rick

7:28

Edelman is the founder of Edelman financial

7:30

engines and he says that Bitcoin will

7:32

reach 420,000

7:35

by the end of the decade which is now,

7:37

you know, six six by five years really if

7:39

we're gonna go end of the decade It's gonna

7:41

happen. He says that if one percent of the

7:43

world's 738

7:46

trillion dollars in financial assets were

7:48

allocated to Bitcoin it would result

7:50

in a seven point four trillion

7:52

dollars inflows bringing Bitcoin to 420,000

7:56

that that seems very reasonable To

7:59

me, right? I think that that

8:01

is another bowl run away. So it

8:03

out this ron we go somewhere between

8:06

one fifty and two hundred than for

8:08

twenty on the next run. Makes a

8:10

whole lot of sense. And

8:12

for twenty, it actually a probably hit

8:15

four hundred and twenty thousand and sixty

8:17

nine dollars. I because.

8:19

I think that's very memorable amount people

8:21

that I high and in it and

8:23

then sell it immediately. and I just

8:25

like sixty nine thousand, four hundred and

8:28

twenty dollars was pretty much the high

8:30

of last time. I could see that

8:32

being a hilarious thing and you know

8:34

it is just the way that it

8:36

is. I mean he I, it does.

8:38

it. Does it seem unlikely to me

8:40

that that price. Ah, or

8:42

hit tagged with a lot less

8:44

allotted to narrow what? seven point

8:46

four trillion just in bitcoin alone.

8:48

I mean that Muslims are sense.

8:51

What's. That that's just one percent right?

8:53

So when you look at suck at

8:55

that time like were it were into

8:58

early mainstream right now. So at the

9:00

end of the decade we're going to

9:02

be moving down the line on mainstream

9:04

adoption. So I think is a some

9:07

sins of only one percent of well

9:09

being in bitcoin or is small. I

9:11

think that I think we're in a C

9:13

higher because when the town it's it's it's

9:16

it's us. It's gonna happen suddenly, right? While.

9:18

I would say this to it's that

9:20

you know by the end of the

9:22

decade we're going to see a lot

9:24

more real world assets. In.

9:27

A Crypto financial instrument rights for

9:29

our Debbie Way. I think it's

9:32

such a huge narrative and as

9:34

gonna be you know. Basically

9:37

fractional eyes in real estate rationalizing

9:39

all of these different things. So

9:41

a lot of the seven hundred

9:43

and thirty eight trillion in financial

9:45

assets or whatever I'm a lot

9:48

of those are not liquid. right?

9:50

In So when you can

9:52

start getting into making illiquid

9:54

assets liquid it through token

9:56

is a sin of them

9:59

then more. They will be

10:01

in the space and and of

10:03

that's the case then Bitcoin. Won't.

10:05

Be fifty percent of the crypto

10:07

market like usually as was real

10:10

world assets target non their. Yeah.

10:12

I would assume that you know

10:14

maybe they're going. They're attached bitcoin

10:17

to real world assets somehow. That's

10:19

probably a pretty good business. Bad

10:21

because people for bitcoin more than

10:24

anything, right? But. Otherwise what's going

10:26

to be the the token that poland and

10:28

and in doing all the real world assets

10:30

stuff that's going to be some the paid

10:32

sensitive. So. Meanwhile, or A

10:34

T M's around the world have kind

10:37

of slow. there's thirty eight thousand of

10:39

them right now, but for the first

10:41

time since summer of last year, the

10:43

number of active A T M's as

10:46

decrease in a lot of that has

10:48

to do with you know, fear and

10:50

in the uncertainty about regulations North America

10:52

accounts for a large part of them

10:55

are the Us in general has eighty

10:57

two percent of months, and then you

10:59

got little slivers here from around Europe

11:01

and Australia and the Orange Zone. During

11:04

the Orange Zone than your your

11:06

deathly and I'm a minority of

11:08

of what that is. But you

11:10

know, as you were talking about

11:12

real world assets at the same

11:14

time making the coins fully programmable.

11:17

right? This is this is the

11:19

next move that some developers believe

11:22

it's gonna happen, which is what

11:24

if Syria I'm you know initially

11:26

was developed to do to be

11:29

allow people to create smart contracts

11:31

and now we've already seats developers

11:33

create a layer to like the

11:36

Lightning network and we seen or

11:38

Knowles and Runes and perhaps if

11:41

developers are now working on expanding

11:43

a Bitcoins program ability then that

11:45

gives a whole nother reason. For

11:48

the Bitcoin block chain to exist?

11:50

Yeah, and now he has a

11:52

project Ethical Stacks where it says

11:54

that it's the smart contract layer

11:56

for Bitcoin and am you're not

11:58

mention this on the. Oh yeah,

12:00

but damn you know. I've. Started

12:02

working with a project actually

12:04

or an accelerator called the

12:06

Bitcoin start up Lab in

12:08

about thirty five hundred. People.

12:11

Submitted and they only chose Sixty Joel

12:13

which was pretty crazy and so I've

12:15

been working with that and working with

12:17

all these really top brilliant minds in

12:20

big what was things I think has

12:22

been my problem is is that. I.

12:24

Have great ideas but I don't have the

12:27

structure of how to set up a business

12:29

correctly. This a do this to do a

12:31

start up optimise it's others because it was

12:33

key things I like. oh this is great

12:35

idea but this has been so good to

12:37

be able to go in and distill it

12:40

to find out what the fulcrum of your

12:42

business is was what the problem are you

12:44

solving and and going on interviewing customers and

12:46

talking those people. That's why I think that's

12:48

you know retail investors. the come in and.

12:51

In. Droves That what on call on the

12:53

I Eat Trade Babies and the Motley Fools

12:55

Rider. They understand crypto grow and but they

12:57

don't really know what to do. And so

12:59

third, taken aback to the old school job

13:01

where we were. you know, teaching people about

13:03

crypto. These these he trade babies need to

13:06

learn about this and I and that's what's

13:08

interesting is sit in an. All. These

13:10

courses with all these speakers components and

13:12

talking about how early we are with

13:15

bitcoin program ability, the so much going

13:17

on and so and with it what

13:19

were we are Sitting right here on

13:22

the cusp of a Bitcoin is taken

13:24

off in as Boron. People.

13:26

Who are building on this? I think you're gonna have.

13:28

Have a pretty good of a pretty good

13:31

runway of the have a good idea. As

13:33

you said the coin or knows Brc twenty.

13:36

Ruins. Of. The L to

13:38

they'll to be in popped up on top

13:40

of on stacks and and also with I

13:42

see p job with the with the chain

13:45

fusion and be enabled build to build on

13:47

I Cp and and having it's ah be

13:49

able to transact on bitcoin as a lot

13:51

of really interesting stuff. In. That

13:53

and so that's one reason why I'm

13:56

building coin research.a eyes Because for one.

13:58

There's a lot of stuff we don't. The stands we gonna

14:01

bring in brilliance of bring In as a

14:03

D eyes and in and and process at

14:05

all with a eyes the weren't such a

14:07

unique time I think to be able to

14:09

process all this data whereas before we never

14:11

able to do that stuff. I. Think

14:13

gum. I think we need to have video

14:15

write a song called a Trade to play

14:17

at the end of the show. When you

14:19

think ah women com of eat, pray babies

14:22

and motley fool their the Wall Street Wanderers

14:24

who are different Naruto into the Crypto state

14:26

your writing lyrics I love it let's let

14:28

us do that. You guys stick around After

14:30

the as a disclaimer: okay I guess for

14:33

make an annuity I saw a new song

14:35

or so as Syria is probably the reason

14:37

that things are really pop and off right

14:39

now and that's because the there's people out

14:42

there who have. Felt that the chance

14:44

of and the theory of each year

14:46

for approval was about twenty five percent.

14:48

but those same people now based on

14:51

some odd the Se asking different exchanges

14:53

to update their filings much faster and

14:55

they thought they would be ass are

14:58

putting it like a seventy five percent

15:00

chance. Now that's got people super excited

15:02

that Dub may be that Gensler in

15:05

his team are going to go. I'd

15:07

have less less as move this along

15:09

so they see that progress is being

15:12

made right now. And of this

15:14

is a theory hims path to Ten

15:16

K right? If they get the Tf

15:18

his wealth it would be very surprising.

15:20

You know people and listen to like

15:23

Michael Sailor say that a lot of

15:25

people are waiting on the sidelines to

15:27

invest in Bitcoin a T S because

15:29

they want to make sure that Bitcoin

15:31

is the coin. So now if there's

15:33

choices to be made then you've got

15:36

these enterprises that are like while we're

15:38

at with where we can put our

15:40

holdings. Where's it Gonna go there you

15:42

know. a confused mine says know

15:44

too many choices makes it difficult

15:46

so i really don't know what's

15:48

gonna happen here my my gut

15:50

tells me that while approval may

15:52

eventually happen that they're going to

15:54

drag their feet for a while

15:56

on this holding our drag the

15:58

figures what happens when Ethereum has

16:01

an ETF, then what's after

16:03

that? Solana ETF, and

16:05

then where they can have Doge and

16:07

the Pepe ETF? Like, you know, so,

16:09

but when we're sitting on the

16:11

edge of, hey, this might be a security,

16:13

this might not be a security, how

16:17

could they go ahead and say, yeah, go

16:19

ahead and do it? If on

16:21

their roadmap, they don't have

16:23

it, you know, it's like, are

16:26

they gonna originally try to shut it down? How are they

16:28

gonna do that after they set up an ETF? It just

16:30

seems like, it seems

16:32

strange, but what we do know, and

16:34

we've talked about it multiple times, is

16:36

how innovation is leaving America.

16:39

And so that's why it's kind of

16:41

freaking people out, I think is, and

16:44

it scares the crypto market back and forth

16:46

when it goes through this stuff, Joel. Don't

16:48

be afraid, it's okay. It's okay, we're

16:50

here guys, don't be afraid. We'll huddle you,

16:53

we'll huddle you all the way to the

16:55

end. Oh, because of

16:57

Tony Danza. So

16:59

if you are an Ethereum

17:01

holder, then you are

17:04

probably likely to be

17:06

in profit. When Ethereum hit $3,800, it's

17:11

sitting around 3750 right now, 90%

17:15

of holders of ETH were officially

17:17

in profit for that short time.

17:19

So getting close, you know, if you

17:21

bought at the top, which was what, 42, 4300

17:23

during the last bull market. Oh,

17:29

here it was, the all time high was 4891. But

17:33

people think that, you know, ETFs

17:35

getting approved are gonna move things along quicker.

17:37

So congratulations you if you're one of the

17:40

90% that is in the

17:42

black with Ethereum.

17:45

But you know, tribe, you're talking about

17:48

the uncertainty and all that. And part

17:50

of what's interesting right now in Congress

17:53

is there is a bipartisan

17:55

bill for blockchain competitiveness that

17:57

has passed the US. House

18:00

of Representatives. It is

18:02

called the Deploying American Blockchain Act

18:04

of 2023 and it was approved

18:06

334 to 79 and it directs

18:09

the Secretary of Commerce to take

18:14

actions necessary and appropriate

18:16

to promote the competitiveness

18:18

competitiveness of the United

18:20

States in blockchain technology

18:22

or other DLT. So

18:25

this kind of is I think there's

18:27

people that are going hey we're

18:30

losing you know our

18:32

influence here and people are going offshore

18:34

we need to promote blockchain because there's

18:37

no stopping it. So now I guess

18:39

now it goes to the Senate and we'll

18:41

see what happens. Yeah and then

18:43

so Joe Biden has said regardless of

18:46

whatever happens he's going to veto this

18:48

type of bill but what's interesting

18:50

about this is this is taken to

18:52

task the the Secretary of Commerce with

18:55

promoting blockchain technology not the

18:57

SEC and so the

18:59

so really this comes into all right

19:02

do you want to shut this industry

19:04

down at its knees if

19:06

you do those kinds of things then

19:08

we see Singapore and we see Dubai

19:11

in the Middle East and all these

19:13

other places gaining lots of popularity and

19:16

you know it seems to me that you know

19:18

maybe Caitlin Long and Wyoming

19:21

should be advising on a lot of

19:23

this stuff and there's a lot of

19:25

different crypto related bills going

19:27

around the Congress

19:30

right now and then you know you

19:32

have Elizabeth Warren coming out making regular

19:34

videos talking about the demonization of

19:37

crypto and how bad it is and all the

19:39

money laundering and if we

19:41

just had a look into her foundations

19:43

and just saw where all the money

19:45

come from I don't know that she

19:47

would be so vocal about that I'm

19:50

that's not that's not you know corruption

19:52

advice that's just me saying she's speaking

19:54

a little too loud over there yeah

19:56

I gotta shut your face right You're.

20:00

What? One does ten twenty fourth

20:02

Native American face that would

20:04

go along the same lines

20:06

the American Bankers Association is

20:08

telling house leaders hey, We

20:11

are not fans of the Federals. The

20:13

Federal Reserve's as C B D C

20:15

plans and there is a bill out

20:17

there right now that would stop the

20:20

Fed from creating a C B D

20:22

C for individuals and using it for

20:24

monetary policy tools. It's called the Cbd

20:27

see Anti Surveillance State Act and it

20:29

now has one hundred sixty five cosponsors

20:31

and they're getting ready to vote on

20:33

it. may be as soon as or

20:36

this week. So. That another

20:38

some other each shut down. Yeah, there

20:40

are some other states as doing some

20:43

stuff along that as well as others

20:45

and a when I when I know

20:47

I do, I approve any sort of

20:49

Cbd safe. Now I think that the

20:52

powers that be how they were. they

20:54

brought in ten million people across the

20:56

border mostly due to that, our military

20:58

aides and what are they just gonna

21:01

be homeless right? They need money so

21:03

it's like they're they're They're building their

21:05

case for why they needed a universal

21:07

basic and in com right? And so

21:09

it's almost like ah, hopefully hopefully we

21:12

can stay away from that because programmable

21:14

money is only good when it's decentralized

21:16

programmable money. whereas problem for him by

21:18

a central bank is telling you where

21:21

you can spend it, where you can't

21:23

spend it, how far from your home

21:25

you can spend it and I'll by

21:27

the way our you can't spend an

21:30

hour cause it expired, you didn't spend

21:32

your money fast enough at that's just

21:34

all weird stuff and our hopefully that

21:36

the put. The kibosh on that. From.

21:39

The river to the see crypto currency

21:41

shall be free. Of. That kind

21:43

of it as a thing, On. Know

21:45

what river? What? See? Much.

21:48

Your brother National or brother. Ah,

21:50

river of dreams. That's what state

21:52

are trapped in other news. Craig

21:54

Wright ally, my brother, my brother

21:57

Cray, right? We're talking anaemic Yeah.

21:59

According to the judge in the

22:01

Uk courts, he has written a

22:03

judgment and he is basically saying

22:06

that right light extensively and as

22:08

evidence during his court case regarding

22:10

his claim to be Satoshi Nakamoto.

22:12

Most of the lies related to

22:15

forged documents that purported to support

22:17

his claim, so that the judge

22:19

says he lied extensively and repeatedly.

22:22

So Major B S again and

22:24

again is essentially what Judge James

22:26

Mellower has said yeah is is

22:28

weird to me. Because. Like if

22:31

you're supposed to Nakamoto you should be able

22:33

to prove it by saying here my keys

22:35

i'm just drop and he's not on the

22:37

table and i'm on a moves in bitcoin

22:40

from is like if you can't do that

22:42

then what difference does it make. It must

22:44

be that he's got such a big ego

22:47

that may be back in the day he

22:49

was a cipher park and he was may

22:51

be part of it and was common conversations

22:53

but if you don't have the keys you

22:56

don't have the crypto and so sit down

22:58

a shot at once sat. That's. All

23:00

would take to see he we know

23:02

subtle she's wallets move one sat and

23:04

that's it. Taste. Close Yet you're done.

23:07

Did it. Or you're close enough to the guy

23:09

who did it that you may as well be

23:11

him. right? right? I mean pick

23:13

up the phone the oh we're not Naka

23:15

need to the move one sat to this

23:17

wallet. But. Could you please says

23:19

they? what about my Naka musk. Motel

23:23

aroused wells close the beginning of Cancel

23:25

right there and recap. I'm A I'm

23:27

still not ninety eight that one. I'm

23:29

skipping the next story goes out care

23:31

about of of this one I care

23:34

about because we've been working with that

23:36

with Gala Games for a long time

23:38

and apparently there was an exploit are

23:40

due to messed up internal controls. As

23:43

quote a twenty three million dollars. What

23:45

happened here. A hacker. Yeah.

23:47

Was like six hundred million gallons. How

23:50

kings worth about twenty three million. And.

23:53

Which is crazy because of the all

23:55

time high it was around ninety. Some

23:57

sense of that would be almost five

23:59

hundred million. And so they

24:01

basically minted, it looks like they minted 5

24:03

billion new Gala tokens and then

24:06

sold them on Uniswap. So

24:08

there was some, so it looks like

24:10

how can you mint new tokens unless

24:13

that contract is already locked. So they

24:15

have frozen the compromised wallet, they've removed

24:17

unauthorized access and they burned the remaining

24:19

4.4 billion tokens. So

24:23

he was able to get, he or she

24:25

was able to get the 600 million scam

24:27

tokens out, but the other 4.5 billion

24:31

were still there and those can no longer

24:34

be exploited. But yeah, the price tanked about

24:36

20% as a result of that. How

24:40

does this happen? Security should be number

24:42

one. I don't know if you've watched

24:44

the documentary on Netflix yet, but there's

24:46

a new documentary on Ashley Madison, the

24:48

cheating site. Which by the

24:51

way. I saw that side, I saw the,

24:54

but I didn't look at it. It's

24:56

very interesting and behind the scenes just

24:58

saying, we promoted that this was completely

25:00

secure. All of the badges they had

25:02

on the site of security and audit,

25:04

it was all BS. They made them

25:06

on Photoshop and they just put them

25:08

on the site. And they were like,

25:10

yeah, we really need to maintain the

25:12

privacy of our cheating clients, but we're

25:14

going to be fine. And then

25:17

of course, hacker got in and they're

25:19

like, everybody's information. Is that what happened?

25:21

Yeah, they're never really was, you

25:24

know, security in line. But now when you're dealing

25:26

with something like this, and that was a huge

25:28

business. There was like some 37 million users. But

25:33

how many of those were real users? You know

25:35

what I mean? Like anytime you get on any

25:37

of these dating apps and you've not had to

25:39

worry about that for a long time. But myself

25:41

being single dude, I've been on these apps and

25:43

it seems just like most of them are bots.

25:45

Like they don't even, it's like they're

25:47

seeding these accounts in these different

25:50

platforms with fake users. There's probably

25:52

all these lonely dudes out there

25:54

and they're taking photos from girls

25:56

only fans. Yeah, the dudes are

25:59

real. Dudes were real, but

26:01

it revealed that they had bots responding,

26:03

that a lot of them weren't real.

26:06

I don't know if it's any of that, really. Well,

26:08

I don't know how much you know about this

26:10

site, but this site was designed to have an

26:12

affair. That's what it was. Like, it

26:14

was, you know, stay married,

26:16

have an affair. That was the whole point of

26:19

Ashley Madison, and so it was

26:21

very embarrassing. But my point is

26:23

that how much more important is

26:26

it that security is your number

26:28

one thing if you're running

26:30

servers and a blockchain, you

26:32

know, to have a hacker be able

26:34

to get in and mint five billion

26:36

tokens? Yeah, that's crazy.

26:39

That is crazy. Hey, I do. I

26:41

do want to actually mention this might be a good time talking

26:44

about television and whatnot. So

26:46

I recently tuned into so

26:48

I have multiple people go, oh, my God, you

26:50

got to watch Yellowstone. You got to watch Yellowstone.

26:53

I hadn't watched Yellowstone. But apparently,

26:55

it's so good that it has two

26:58

pre prequels to it. One

27:00

1883 and the other one 1923. And

27:04

then they have and they're going to probably have another one that's

27:07

in the 40s or the 60s or something. But

27:10

such a great series, man. Like I went

27:12

and watched. I didn't watch 1883. I

27:15

walked like a 20 minute catch up on it and I

27:17

go, okay, this looks interesting. And so I watched 1923. 1923

27:22

was one of the best series that I've

27:24

seen. There's only one season of it. And

27:27

they got the second season coming out. But

27:29

dude, Harrison Ford is the main actor in

27:31

a thing. And then Helen Mirren is his

27:34

wife. And it just goes back and talks

27:36

about this Montana ranch. I mean, it's phenomenal.

27:39

And then the whole thing is about their

27:42

their lineage and the descendants of them. And

27:44

now Kevin Costner is the main character in

27:46

the current one that's been five seasons. So

27:48

very cool. But what's interesting about it to

27:50

me is the dude who

27:52

created all these got

27:55

the rights to this

27:57

book that I read recently called The Empire.

28:00

of the summer moon which was about the

28:02

Comanche tribes and the last bit of

28:04

the Comanches in the late 1800s

28:06

and stuff fascinating books that

28:08

dude's gonna actually do the story I said okay

28:11

that dude's gonna do this and the dude

28:14

Comanches they were

28:16

bad-ass dude that they were the

28:18

roughest tribe out there but dude what was

28:20

crazy about them is they rode on these

28:22

horses these really fast horses and

28:25

the smaller ones they didn't take the big ones and

28:27

then whenever they were against somebody or

28:29

fighting they would literally slide on the side of

28:31

the horse away from where the bullets or the

28:33

arrows are coming and they just grabbed a bunch

28:35

of arrows were just like

28:37

like from side riding on dude

28:40

this command teams were bad-ass and that's

28:42

all I got to say about that and that has

28:44

nothing to do with blockchain well we got a healthy

28:46

helping of pop culture references today a

28:48

lot to get me excited about something you guys you guys

28:53

got some bonus content today not

28:55

bogus bonus dark

28:58

web market owner arrested in New

29:00

York after FBI traces crypto Ru

29:03

Sing Ling was tracked from

29:05

the dark web drug markets

29:08

to a credit exchange in

29:10

his in his own name 23 year old

29:12

dude profited from

29:15

a hundred million dollar dark

29:17

web narco marketplace Barrow

29:20

incognito market yeah Barrow

29:22

so um yeah

29:25

now he's facing charges for criminal

29:27

criminal enterprise money laundering etc etc

29:29

and if we know of anything

29:32

of what happened to the dread

29:34

pirate Roberts right we

29:37

know this guy's probably his sentence is not

29:39

going to be favorable for him no

29:41

and by the way HTC blue

29:43

Punisher 300 milligrams apparently go for

29:45

three dollars and 24 cents

29:48

in case you were wondering and

29:51

I want some ecstasy in case

29:53

you were wondering so to have any idea

29:55

where the whales are in the world before

29:58

I Scroll down and we and we looked. Get it if

30:00

you're going to guess what will probably off the

30:02

coast of off the coast. A Chilling: There's a

30:05

lot of whales out there who blew my mind

30:07

and I know, I think that some. You.

30:09

Know the yeah they killed most

30:11

of the whales. Crypto, Wales, Wii,

30:13

five countries I do think are

30:15

in the top. probably the prowl

30:18

I would say probably the by

30:20

the moon but as probably correct

30:22

know her out I would guess

30:24

Dubai as well. Yeah. Singapore

30:26

would probably be want

30:28

us. Attorney would

30:30

us be one I'll find out was

30:32

for other Here are the one another

30:35

and other one is that. Probably.

30:37

Was. Lot of crypto people in

30:40

Portugal. Okay, Porto Rico, This is

30:42

Not so. It. Did. This

30:44

is not where the whales are. Case

30:46

of this article's misleading. Thanks Crypto News.coms

30:49

The top five top. Basically this is

30:51

the top five crypto friendly countries. That's

30:53

what this list as it doesn't tell

30:56

us where the whales are adds up.

30:58

I'm disappointed. I want know where the

31:00

wells were. So Switzerland is number one

31:03

or Singapore is number two, Malta is

31:05

number three, Portugal, number four, and a

31:07

stony A. Number. Five with

31:09

that. Looking at the regulatory environment,

31:11

tax policies, technological infrastructure, government support.

31:13

That's how they raided them on

31:16

a scale of one to five

31:18

and came up with us. But

31:20

Crypto news disappointed. I wanted to

31:22

know where the actual whales are.

31:24

Non. right? The friendly country. Now there are

31:26

some A P eyes. The key practice

31:28

of those wallets Islam and Us as

31:30

was is actually one one called Unusual

31:33

Wales. I think that com is one

31:35

that will will keep track of and there's

31:37

a couple other really go platforms ah that

31:39

have a p I that we're going to

31:41

Poland in to be able to find some

31:43

of the never Macys. There's a lot of

31:45

valuable to me you got all this while

31:47

it just bought x amount of this. oh

31:50

I think there's a big difference between when

31:52

u C k ah well that they're they're

31:54

just get a big amount dump to them

31:56

writing them earlier when you're monitoring Gary these

31:58

wallet around enough to ease and. Oh, movie

32:00

got these in of these. Oh, he must

32:02

be biased and people just drop it and

32:04

that is known wallets and so there's there's

32:06

a lot of noise. I think that happens.

32:08

Yeah, filter through the noise drive Europe where

32:10

the actual whales are and what? They're actually

32:13

by an. Unfiltered

32:15

senior noise rhinoceroses, Is.

32:17

Not working. I am here and at

32:19

all. My. Were last

32:21

bit of it's A before we

32:23

write our a song, eat, trade

32:26

babies and motley fools. let's look

32:28

at the Ai world. Apparently if

32:30

you have an Ai related token

32:32

then you're probably making better gains

32:35

on those then on the crypto

32:37

market in general. There's a few

32:39

of them in particular that this

32:41

article or references that had double

32:44

digit twenty Four Hour gains, a

32:46

cast a graph, Arkham Gollum all

32:48

going up. Significantly.

32:51

Or even as bitcoin the Syrian are

32:54

going up and makes total sense like

32:56

people want to beyond the next thing

32:58

and clearly ai. Is that next

33:00

thing? We talked about that a

33:03

long time ago. we knew that this is

33:05

gonna be a big narrative. I mean when

33:07

we started plans with mid Journey even in

33:09

two thousand Twenty two. oh do we know

33:11

this is gonna be big? You can see

33:14

I'm gonna be bags and that was one

33:16

of the things. Are so many of these

33:18

ah Ai platforms in different crypto that that's

33:20

one. That's how I came up with the

33:22

Corn Resorts idea. Actually jaw I wasn't planning

33:24

on. Build. Many things are just like

33:27

I need to hire some research people to

33:29

go through and tell me what is each

33:31

one of these quip those do so I

33:33

can know what he's one does so than

33:35

I can decide if I wanna invest in

33:37

some of them are not And then it

33:39

just so happened I stumbled across a dude

33:41

who are was a Vp of research for

33:43

Three Arrows Capital who found a bunch a

33:45

great crypto back in the day and I'm

33:47

like oh we might want to work together

33:49

burrow pat attacks and I have either way

33:51

whether you are the dude who screwed up

33:53

Three Arrows Capital where you the I didn't.

33:55

Overleveraged the things I found I found a lot of

33:58

gray process of they are I will have. We

34:00

can maybe do something so it is actually

34:02

A. I have the narrative and I think

34:04

the next narrative Joel's going to be the

34:06

real world assets. Narrative? Those are some of

34:09

those components are always. You. Know gaming

34:11

as a big part of this and it's projects

34:13

built on top. a big one. A big part

34:15

of this. There's a lot of interesting narrative that

34:17

are happening. So. You know,

34:19

a lot of people would think

34:21

that exploits would be some the

34:23

biggest threat in Iraq right now,

34:26

but it's actually social engineering that

34:28

his accounting for ninety percent of

34:30

cyber attacks. you got all kinds

34:32

a deep fakes and a i

34:34

manipulated Adios people hijacking you tube

34:36

channels, other social spending, all kinds

34:38

of state content and it's easy

34:41

to fall for this stuff, right?

34:43

There is a lot of fuss.

34:45

Easy ways to fall for B

34:47

S videos. At Look legitimate now more

34:49

than ever. you have to question if

34:52

what you're seeing is real or if

34:54

somebody is trying to steal from you

34:56

by In. they'll do that. They'll put

34:58

still take over a youtube account and

35:00

put phishing links on there and kiss

35:02

your crypto goodbye. You've got to. Verify.

35:06

And and verify again before you

35:08

try and do anything significant, specially

35:10

with your crypto wallets. Yeah, as

35:13

a big number dude, ninety percent.

35:16

Of. All cyber attacks. Are.

35:18

Social Engineering, not technical exploits like that

35:20

and headline right there them wow did

35:23

I don't have you noticed this are

35:25

not like on when you're watching you

35:27

tube I before you're watching a video

35:29

and then all a sudden I like

35:31

you see I'm. Busy. Like oh

35:33

I'm Brian Armstrong, a coin base who are

35:35

noticing a lot of blah blah blah And

35:38

you see Michael Sailor who are blah blah

35:40

and they're just completely ai. But.

35:42

It's almost like you know the motley

35:44

fool and eatery babies are going to

35:46

necessarily know that that was a I

35:48

like oh I need to go sign

35:51

up over here and it's Zoo South

35:53

like. Man. So. Is

35:55

it is definitely an element of education has

35:57

take place because. Good even smart people

35:59

organ. scammed in this space. Easily.

36:03

So what kind of song is E-Trade

36:05

Babies and Motley Fools? I

36:09

think it's, can we do like a

36:11

swing, swinging song, like a lounge style?

36:13

Like a lounge, I do, I do prefer

36:15

the lounge style versions of it. I

36:18

think we could maybe do a couple different ones and see which

36:20

ones we end up liking. Alright. Motley Fools,

36:22

it could be fun to have one that was like

36:24

Motley Crew. Hey

36:27

gang, thanks again for joining us and

36:29

tolerating us and sticking with us. If

36:31

you're still here at the end, you

36:34

will be rewarded. Good Karma is coming

36:36

your way and a funny song as

36:38

well if you'll stick around. Fat games

36:41

are coming to your stack. PH8. Fat,

36:43

fat baby. Make

36:45

sure that you like, review, comment, share, tell

36:47

your friends, tell your neighbors, head to dog.

36:50

We'll catch you on the next episode. Until

36:52

then... The

37:12

Bad Crypto Podcast is a production

37:14

of Bad Crypto LLC. The content

37:16

of the show, the videos, and

37:18

the website is provided for educational,

37:20

informational, and entertainment purposes only. It's

37:22

not intended to be and does

37:25

not constitute financial, investment, or trading

37:27

advice of any kind. You shouldn't

37:29

make any decisions as to finances,

37:31

investing, trading, or anything else based

37:33

on this information without undertaking independent

37:36

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37:38

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37:40

the trading of Bitcoins and alternative

37:42

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37:44

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37:47

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37:49

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37:51

own independent professional financial advisor. such

38:00

a great name for something dude like that would be

38:02

like a rapper a

38:04

rapper name or

38:07

it's like you know something like reward

38:09

system or something hey check us out

38:11

we're fat sats oh man stack

38:13

your fat sats sit on your

38:15

sack don't sit on

38:17

your sack that's painful I did that shit one

38:20

day I was like oh my way mo need

38:23

to call the adjustment bureau and that happens that's

38:26

not gonna work at all the

38:31

clients help me he's

38:33

a great baby he's

38:36

a great baby he's a

38:38

great baby he's

38:43

a great baby he's great babies

38:45

and a motley fool I'll go

38:47

eat for wisdom follow

38:50

the rules Wall Street

38:52

Wonder Arts joining the quest

38:55

finding the answers that you have

38:57

to invest you