The Wolf Of All Streets - Consensus recap | Crypto Town Hall

Episode Date: June 3, 2024

Crypto Town Hall is a daily X Spaces hosted by Scott Melker, Ran Neuner & Mario Nawfal. Every day we discuss the latest news in crypto and bring the biggest names in the space to share their insight. ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘2MONTHSOFF’ WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/    ►► OKX Sign up for an OKX Trading Account then deposit & trade to unlock mystery box rewards of up to $10,000!  👉  https://www.okx.com/join/SCOTTMELKER ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS. 👉 https://www.thedailyclose.io/   ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL  - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets    Follow Scott Melker: Twitter: https://twitter.com/scottmelker   Web: https://www.thewolfofallstreets.io   Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #Trading The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor.  Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Not sure if you guys are watching what's happening in the market. Obviously, insane volatility from GameStop, but seemingly a ton of the tickers on the stock market have broken, causing circuit breakers across the board, including, I don't know if you guys saw, but effectively, a ticker on Berkshire Hathaway that shows effectively that Warren Buffett would be bankrupt right now. I think it was a drop from the 600s to the 100s on Berkshire Hathaway when the market opened. It meant a circuit breaker. And the ticker is very entertaining to watch these things happen, even on the stock market. Chris, have you been watching any of this?

Yeah, man. I mean, you know, it gets a little quiet for a while and everybody starts thinking, oh, man, you know, things are going to not do well. And then all of a sudden, I don't know where it pops up. Roaring Kitty, you know, revealed that he's got that, oh, I don't remember, what was it, like 160 million-ish. I mean, if it returns to 70, he'd make a billion dollars on the trade. Absolutely crazy. And of course, you know, the market jumping in with him on that. And, you know, Bitcoin starting the weekend really quietly. And then yesterday into today, you know, rallying up there hitting 70,000 this morning.

So, you know, just another day in the markets, right? Yeah, another day in the markets, but watching the actual tickers break is insane. I mean, people are tweeting that Berkshire Hathaway is down. Bloomberg put it down 100% interesting. His last touch, I could get down 100% or zero. But, you know, really, really, really nuts. So it's going to be interesting to see how that pans out. I mean, you obviously mentioned, I'll bring it up, you mentioned GameStop here.

Opening the day, now I don't have it up really quick. Open the day, or close the end of the week, I think about 23 bucks. Open the day at 40. So massive $17 jump on the news of Roaring Kitty. And then dropping down as far as $27 today, and now trading at $31. And there was a circuit breaker right at the open at 38 bucks. So imagine that you were short this going into the weekend. If only we had a market that traded 24-7, 365, imagine you were short this over the weekend and watching Roaring Kitty start to tweet and make these announcements and you can't do anything to close your position. Although it seems that maybe

a lot of these shorts, if they got liquidated at 40, then Godspeed, that's probably what happened to most of them. But seemingly, a lot of them probably panicking a little less if they got a chance to cover it $26, $27. But I mean, maybe the grander conversation is where Bitcoin fits in the context of all this nonsense that's happening. Are we seeing this move on Bitcoin because it's trailing these things? You know, we have a big gap up on the stock market as well. And are, you know, is this meme stock effectively driving the stock market right now? I think you could make that that argument. I mean, Chris, what do you think of that notion? Sure. Yeah. You know, again, you know, the whole COVID thing really threw the market and doing to

some stuff, you know, that we haven't really seen happening. You know, we had the meme stocks all popping up, whatnot. And ever since then, it's like, you know, those that got a taste or those that missed out were looking for this kind of return back to that. And then, you know, of course, Roaring Kitty then comes back out after being gone for a few years, starts posting some memes, it shoots up, comes back down. And then now he's like, oh, yeah, look, I've got this huge position. And yeah, I think that's kind of driving people, you know, a little frantic, putting some FOMO into the markets, people potentially looking at what happened during COVID, you know, especially with the legacy markets

there, potentially repeating again, or maybe even hoping it does better. Because, you know, again, a lot of people missed out on it when it first happened, because it was such crazy movement. You know, we'd never, I don't think I can ever remember seeing a stop kind of doing what GameStop especially did, you know, driven by, you know, Reddit and Wall Street bets and all that kind of going through all that. So yeah, I mean, I think you can definitely make an argument for that kind of coming in there and creating some, some some real kind of volatility around around all markets here right now as everybody gets a little bit excited.

Yeah, it makes perfect sense. William, what do you think? I think when I when I look at last week, there were many, many positive developments in the market, in the startup space, and not looking at the prices, but just looking at the activity of what's going on in terms of VC investments, in terms of companies doing some very interesting things. That makes me very, very positive and very bullish from that side. I don't look at the prices on a daily basis so much, but long-term, I think, I would say medium to long-term, this is very, very positive. And everything is going to turn around, in my opinion. Yeah, makes sense.

I think we'll dig into the market further. I see James, since you're here, we got to talk about Austin. So James spearheaded the fundraiser that I was one of the hosts for, for John Deaton. And man, it was amazing. Yeah, it absolutely was. I mean, just the vibe, you know, and the feel for, you know what, maybe this is actually possible that really the leader, you know, the creator, the spearhead of the anti-crypto army in the United States could be

knocked off, that would be shocking. And you guys are talking about markets. I'm just a lawyer. I'm not a markets guy. But, you know, if the United States sent a message that, you know, there is a price to be paid for politicians who want to be explicitly stopping, you know, innovation and the progress in the United States just to catch up with the rest of the world. If there's a political price to be paid, these politicians will pivot quickly. And I think we're seeing a little bit of that. And so just a tremendous optimism and enthusiasm in the room for John Deaton, who is really a fighter for freedom and the idea that you get to make your own decisions

about how you're going to invest your money, and it's really not the role of the government to make these calls for you. And then you own those decisions. You have freedom, and then you own those decisions. You can lose all your money, and that's on you. It's not the role of the government to decide which asset classes are okay for us plebs to invest in and which are not. And so the other other aspect I find interesting, Scott, on the political field is it's hard to tell who's in charge. You know, it looks like with respect to, you know, that legislation, that SAB 121, that Liz Warren is still in charge with respect to what the White House is doing. But if you look at that Ethereum spot ETF, plural, many of them,

looks like Larry Fink is in charge, you know, with respect to approving something that we know Elizabeth Warren is very, very opposed to and Gary Gensler is opposed to and doing it anyway. And Larry Fink is the driving force behind these crypto ETFs. So really fascinating what's going on and was really exciting to be behind John Deaton. And the vibe in the room was spectacular. And I really appreciate everybody who was there and who has contributed to get momentum behind John. Did you spend any more time at ConsenSys outside of that specific event? You bet I did.

I mean, one of the fascinating parts is some of you on this call will know who Tom Farley is. So Tom Farley was the president of the New York Stock Exchange. And this guy is a really good-looking, camera camera ready guy who's on CNBC all the time and was as the president of the New York Stock Exchange. You can't be more old school trad five than that. Well, he's come over to crypto and is running a company called Bullish that acquired Coindesk, which runs the Coin Consensus Conference. So they're a big deal. He's come over to this side and he gave a speech where he absolutely tore into Elizabeth Warren and how she stands for one thing and one thing only, and that is more government

control. And it's really important that the crypto community as one push back against that, you know, and stand for freedom. And it's like, I can't believe I'm hearing this from this guy who was, you know, as trad fi as you could possibly get, who was really advocating for decentralized finance, which is the antidote to centralized control, as we all know. And so that I found really amazing. And last thing, I'll tell you what gave me real pause is Hester Peirce, commissioner of the SEC, said twice, and she emphasized this, that the crypto community must not agree to a market structure bill that results in you, the crypto community, sacrificing your privacy. So this was a very, very specific flag for the group. She knows what's going on, okay, behind the scenes where this legislation could conceivably wind up. And she is saying,

they're going to take away your privacy if you're not careful. And you're going to be cheering on a big market structure bill that the Senate comes across with and they have a conference in between the House and the Senate and come up with a final bill.

Be careful. Do not support something where you have unbeknownst to you forfeited your privacy. I thought that was a really important point and she emphasized it. Yeah, I missed Tom's speech, but I heard it was great. And obviously, you know, as you said, bullish owns Coindesk and Coindesk runs ConsenSys. So sort of the top of the top of the ladder there for the entire conference. And he's a very, very interesting guy. I've met him multiple times. Mario, you were at the fundraiser as well. a very, very interesting guy. I've met him multiple times.

Mario, you were at the fundraiser as well. I mean, you and I were all over ConsenSys. You were all over Austin. I want to hear about this round table that you guys are a part of, and you guys didn't even tell me about it. You were invited. You didn't even tell me about it. I just saw your pictures all over all the locations.

You were pitched multiple times, or at least your team was. Tell me what it is. Mario, are you here? I've spoken enough. Can you hear me or not? The ghost of Mario. I actually want to talk about how Mario. Scott, Scott.

Wait, wait. Can you hear me? I can't hear him. Okay. Drop me. Drop me and I'll come back. Drop Scott and come back. how Mario yeah Scott wait wait I can't hear him okay drop me yeah drop me and I'll come back drop Scott

and come back I think I'll let Scott actually talk about it even better he can explain it better than I but instead

I want to ask you a separate question before we get into the round table so me and Scott can answer that one Ryan is why

why no karate combat man so two reasons one is I have a shoulder injury so I can't train i can't do anything i can't even go to gym so i've been i've been manned down since january i haven't done any exercise since january so i can't train i can't do anything but more importantly i feel bad fighting

a dancer bro i can't i can't i can't fight the guy that dances cha-cha or whatever what do you call it what's's what's. Just for, just kind of give, give context to give context to the audience as a, as a, but it's actually gone really well. Like the guy from cryptos are us, his name is George. He started a, uh, kind of a, a UFC, uh, kind of simple, a UFC for celebrities, crypto celebrities. And okay, well, just going to call them that and then um so they come to me like hey do you want to fight and if she said no for a while but then like no if i can get ran i think that would be that would make for a good fight so i just asked you guys what is this

thing about crypto bros fighting like like what what is this thing about is it like is it because there's only guys in crypto there's quite a lot of money in it. Actually, the girl fights are the best. But yeah, go ahead. Yeah, first the girl fights are the worst. That's the sicko. But it just ran on that point. So I wanted to call, they asked me like, hey, can you come to the event today?

And they call out Ran live on the, they give me the mic and call you out. The video's on Twitter, but I don't know if you guys can find it. So I'm like, cool, but let me just check up with Ran. We're friends. I don't know how far I can push that friendship. So, I call Ran many times, he doesn't pick up, he's sleeping, whatever he's doing. Right, it's 2 in the morning.

So, I go to David, I call David who's like on the other side of the place like, David, you know, they want me to call out Ran, you think it's a good idea? He's like, yeah, yeah. You know, big goofy smile, like such a, that's such a genuine smile to be honest. Like, yeah, do it, bro. Do it. Be good. Like, are you sure? Like, yeah, do it. I do it. And then I sent the clip to David the next day. I'm like, hey, I did it. He's like, Oh, he, he listens to the clip of me calling out, right? And he's like, Oh shit. I'm like, hold on. If you're worried, David, then I'd be freaking out. So David's like, yeah, I think it's too far.

I'm like, oh shit. You're the reason I did it. Um, but that's, that's about the fight. And then ran, um, I knew he had a shoulder injury by the everyone. Someone told me. I'll fight you. I'll fight you next year. Let me get over my shoulder injury and then be able to actually start training and lead a normal life. Bear market fights. no one watches them. But yeah, in terms of the roundtable, Scott, maybe you can explain that one.

They're trying to get me to fight Donald Trump Jr. for the record, which I've denied. We were almost up to seven figures for it, but I want nothing to do with the election cycle. But yeah, there's a lot of money in it, by the way, Ren, depending on you would get paid, I think, handsomely and probably find a lot of sponsorship. But I have no urge to do that.

Mario, you tried to challenge me. What are the numbers? My wife. I don't know. I was well into the multiple six figures as even a first offer for the idea of doing it. I don't know about Mario. He could speak for himself. Let me ask you a question.

Let me ask you a question. Scott, you're a guy that's me ask you a question. Scott, you're a guy that's in front of camera every single day, right? What if you get like four stitches next to your eye, just by mistake, what's that worth to you? Just as a matter of interest, just like, what's it worth? I think that boosts my, I think I raised 200 million more dollars the next day,

like Trump getting convicted. I don't know. I think a few stitches is good. But honestly, karate combat, you know, I don't know why we're talking about this at length, but the influencer fights that started were boxing, right? So, you know, nice big gloves. Nobody hits

as hard as Mike Tyson or anything, I think. Less risk. I mean, karate combat, you can kick someone in the face and they're wearing MMA gloves. I mean, there combat, you can kick someone in the face and they're wearing MMA gloves. I mean, there's a real chance, even if you're just fighting a complete spaz who knows nothing, there's a real chance of injury, I would say. So like as a 47 year old man with two kids who would train like a lunatic in

lieu of doing everything else, because I wouldn't want to lose. There's just zero upside to doing it. Chickens. All right. Well, let's see. And in terms of the round table, so we're kind of giving a recap of the event. I went there, Scott,

I think went to a lot more things. I went there. It was very brief. So I just interviewed for the first day. I kind of stayed in the hotel room preparing for the interview and the RFK interview. The next day I interviewed the RFK and then minutes afterwards, Trump gets convicted,

found guilty of all charges. So we had to cover that as breaking news. And I did a few meetings that day. And then a couple of meetings next day, I did a few interviews. We did the roundtable as well. Scott, you can give us a 10-second recap of what that is. And left. I didn't see the event whatsoever. The only time I walked into the premises was for RFK and then left. I'm sure, Scott, you can give a better recap of ConsenSys if you haven't already. Maybe also about Roundtable, which is creating a bit of buzz that me, you, the Outpoint Daily guys, George from CryptoZaraz, Eyal from Bancor, and of course, James Heckman from

the media world a part of yeah I thought consensus was spectacular and Ran you'll remember last year we went there and thought it was like the most depressing four days of our lives so even just the context of a bull market

versus a bear market last year we were coming off the heels of Binance financing Coinbase being charged by the SEC. The industry had no wins. It was just a vastly different experience last year than this year. There was a ton of positivity, like 15,000 people versus 3,000 or 4,000 last year. I also didn't spend too much time on the floor. I was shooting a couple interviews, but spent a lot of time with Mario talking about couple interviews, but spent a lot of time with Mario talking about RFK. We spent a lot of time with RFK, which was amazing. And then of course,

the Deaton fundraiser that I mentioned to you guys before. But as for the roundtable, effectively, it was launched, soft launched here. As Mario mentioned, it's basically the brainchild of a media mogul in the United States, James Heckman. He was originally Rupert Murdoch's right-hand man. He built Yahoo, Yahoo Finance, he built Hulu, owned Sports Illustrated, digital rights to Miss World, NHL Hockey. The guy is just an absolute machine. And he got together with Eyal Herzog, who many would argue is the founder of DeFi, undisputedly the founder of the liquidity pools and AMMs who created Bancor, and effectively built a media platform that's web-free based, censorship resistant. The record will be there indefinitely and forever and nothing can be removed. That's

effectively another layer for your social media. It doesn't compete with media or social media. It effectively allows you to bring community together, share community with other curated content, and then to build through there. I just suggest you guys check it out. You should feel it first. It's brand new.

It's called Roundtable. But with the curated content and the amount of people they have access to that will eventually be using this platform, those announcements are coming soon. And then sharing community and sort of getting the flywheel turning. It's the most compelling Web3 platform that I've seen of yet. As Mario said, so much so that he, myself, the Altcoin Daily guys, George, Rand, we can still get you there. We would love to have you participate in that, you know,

all kind of put a stamp of approval behind your actively starting. One other question, one other question about consensus. And I asked you this about every event relates more to the audience. And the question I like to ask anyone, when they go to an event, how's the sentiment like you got, you're like the guy that gives you a check. Yeah. Wouldn't you say it was positive? Like there was good energy everywhere. The events were fun. People were spending money.

I mean, it was much better. More than just positive. Of course we're in a bull market, but is there any specific narratives that dominated? I remember, I always remember the Singapore one where you talked about RWAs and gaming. Any narratives this times around those to the same ones again?

I think it was more institutional adoption and United States policy. You know, kind of as James alluded to, everybody seemed to take a zinger at Elizabeth Warren in their speech. Everybody mentioned, obviously, you know, listen, we had the Trump turnaround over the past three weeks, right? And so politics, I think, and the Ethereum spot ETF approval, and SAB 121 being rejected rejected and Trump being convicted all while this happened. So I would say that politics and the state of things in the United States really dominated the narrative on the ground. Robbie, were you there? I didn't see you, but were you at consensus this year? No, I wasn't actually. Yeah, I was there, who you probably saw. But I was in Lisbon for non-fungible, which I have to say was awesome. Because when you talk about it was because when

you Yeah, totally. And I think when you talk about sentiment, obviously, the sentiment was really strong. And I think it's a good benchmark for where things are in the sort of creator economy side of web three, because it's one of the few conferences that I think has relatively equal weighting to things like art, as well as gaming, and all kinds of different, you know,

IP based usages for blockchain, as opposed to a lot of the FinTech and infrastructure that you see at most Web3 events. And the sentiment was fantastic. And I think the thing that I enjoyed most was hearing that things were similarly positive at ConsenSys, frankly, because I'm used to positive sentiment going around and hanging out with crypto communities around the world. But America has been a bit of a, you know, crickets for the last year or so. So that was really encouraging for me as well. Yeah, Mario, you were in Lisbon as well, right? I mean, sorry, Mario, you were in Lisbon as well, right? I mean, sorry, Ran, you were in Lisbon as well, right?

I was, but it was fantastic. I didn't feel like another heavy conference, another big one. I mean, we've got Nashville next month, and I just didn't feel like another conference. So I decided to go and do the meme fun thing. So, yeah, that's where we were. Did you have the same impression as Robbie? Yeah, it was much more fun.

It wasn't a very serious conference. It was much more alternative. It was much more fun. It was much better. How's the meme ecosystem now, especially with the GameStop height? It's exploding. It's exploding. These meme things aren't going away.

These meme things aren't going away. These meme things aren't going away. I can tell you they're not going away. Does that mean, I mean, do you think that they continue to be the main driver of this entire cycle? Or do you think that this is like one of the narratives of the cycle? I think it's one of the narratives of the cycle. I don't think that any narrative is going to last forever in the cycle. You know, in the beginning of the cycle, we had the Cosmos run, and then we had the gaming run, and then, you know, we went on to Solana and the meme coin run, and eventually all these narratives eventually land up dying.

But, I mean, for now, the meme coin narrative is big, and I think it's just going to get bigger and bigger, to be honest. Robbie, go ahead. I just want to know, was this entire conference you were at, I thought you went to something called GameCon. So was that within something else here? I mean, MemeCon. Sorry, Rand. Was it the same conference? It was like a breakaway of the same conference. They were in the same hall, if you want to call it that. Same, what's it called? Like a venue. Convention center.

Yeah, same convention center. Same venue. They shared the venue. Got it. Robbie, you had your hand up. Go ahead. Yeah, I was just going to say, with regard to the meme coins, I think it's a lot about finding communities in different L1s and L2s, because the meme coins, a lot of that activity has obviously been on Solana.

And we can see similar kinds of upticks in usage across the Ronin ecosystem with games like Pixels and the new Axie game. We see a lot of activity happening on base and we see tons of stuff in the TAN ecosystem. So I think it's about just marrying dApps that really engage people with user bases that are very active in different communities. So I think it's actually, you know, a multifaceted sort of growth, if that makes sense. Yeah, I think it makes a ton of sense. I mean, a lot of people have pointed to the fact that it effectively takes the quote unquote, people can use the words they want, but like best parts of the NFT community is in the best parts of previous meme cycles and kind of brings

them all together. That's what brand is sort of alluded to in the past as well. I mean, do you see it that way? And also it's taken, I think a lot of the hype from what were pre-sales before right so it's sort of consolidating a lot of uh things that we saw in previous cycles into one sort of crazy casino yeah definitely and and i think also it's these communities themselves are becoming much more mature i mean if you look at all of the tremendous growth on Solana, most of that is post FTX, because I think, you know, the increased decentralization really drove the community to bootstrap and break out on their own. And they've done a fantastic job. I can tell you, we were ran at the Karate Combat, the main sponsor was Squid Grow. And that dude, ship toshi with the mask was

literally everywhere but like the meme coins were spending crazy money i guess we can say that they're one of those meme coins that's transitioning to utility i don't know that much about it but like everywhere you know spending money the trucks outside uh the bobby kennedy um the bobby kennedy kind of had like a rv driving around by justin trudeau's brother with his the Bobby Kennedy the Bobby Kennedy kind of had like a RV driving around by Justin Trudeau's brother with his kids but with you know hashtag hashtag Bobby on it

I mean it was meme coin everything even a consensus I mean Mario you noticed that right I mean Shiptoshi Squid Girl was literally everywhere whatever that is I'm not sure. Mario's mic. Can you guys hear Mario or just not me? Mario, can you try? I don't know.

Robbie, I thought you lifted your mic there or gave a thumbs up. I mean, they were spending a lot of money on meme coins. For sure. And the Squid Grow people, I saw them in New York at NFT NYC as well. And it makes sense because if meme coins are about attention, and this is the literal monetization of attention, then the more of these kinds of events to attract attention, you know, the better. Look at GM. I wonder.

Look at the GM, look at the GME meme coin. I mean, it's basically figuring out how you can monetize the amount of attention that's happening in the traditional news cycle, too. If you look at all the political side. And a lot of that is circling, I would say, the political sort of meme coin genre. Do you think that that continues to carry weight? Or do you think that that somewhat diminishes after the election? We still got quite a long way to go. I think, I don't know, for having tech issues, I know Mario is saying he can't hear anything in the background. But I don't know, William, you actually are pretty deep in the meme coins what are your thoughts yeah i was uh i've been looking and following what's happening in the uh taun ecosystem as well so i'm very intrigued by the not not not coin um and there are others that coming, apparently one coming in a couple of days called Bix or something like that. So what I'm seeing is that, yeah, it's easy to earn by clicking and tipping. So there's a big rush to figure out the earn use case. But what I'm worried about is what is not so easy is the spend.

So earning is easier than spending it on useful things. So these are like, I mean, everybody wants to be a currency of value. But if you're spending that currency on some silly things, that silliness will run its course. I mean, take one extreme is the dollar or the whatever currency you live in that in that country you live in, if there are if there's no inflation, a dollar is useful because you can do stuff with it. And everybody wants to figure out how to do a lot of stuff with crypto. And that's going to be the challenge with all of these meme coins

or whatever they call them, use coins, content coins. We have to jump from the silliness to the usefulness. That's going to be the challenge. If we're having full conferences about this, aren't we potentially doing that, Robbie? I mean, you're in a conference. Are we going from, you know, being sheer memes to real utility here? Yes, for sure. Because I think it's, it's just another way for people to raise capital for an idea and to build a

community. And I think that once you have the community combined with the capital of that community, you essentially have an empowered DAO. The trick is to figure out how to convert that amorphous resource of money and people and attention into a cause. And so, then you actually need to have leaders step into the DAO and say, look, this is what we've got to do. We've got to organize, we've got to spend, you know, if you look at the, think of things like, you know, renting the sphere in Las Vegas to put the dog with hat on

or something like that, you know, you have to, whether it's a silly cause or it's something else, you need to start to have some organization but um once you have all those resources you know it's it's up to you what to do with it it's an amazing thing to have chris what do you make of the current meme coin trend here and how it's sort of evolving yeah i mean you know i guess if we think about it you know it makes sense right so the um we had the internet come out which then led into y'all's Internet. This is global connectivity, which became social media, which became where everybody spends all their time, every trying to get attention. And I mean, so, you know, I guess if we think about it, the meme coins really kind of, you know, are just continuing on in that in that whole side, in that whole sort of pushing forward. So, I mean, as long as, you know,

these things continue to happen, it doesn't seem like they're going to end anytime soon. You know, Doge was, of course, you know, the original meme coin coming up there. But these days, I think, you know, the other guests are making great points about how, you know, I think people are really starting to figure it out. You know, you've got to grow the community. They're becoming, you know, more sophisticated, figuring out, OK, well, what can we actually use it for? And these are things that will actually, you know, give them a chance of sticking around a bit. Now, does that mean that they'll all, you know stick around no i'm still of the belief that you know most of the you know the shit coins in general including meme coins will probably um head to zero at some point

but for now anyway uh especially through this cycle um i think you know meme coins continue to build uh traction they continue to build followings and as long as they have that attention they figure out how to continue to um to build that that attention, I don't see any end in them, you know, at least through through this cycle coming up here. Now, what happens after that? You know, we'll see. You know, everybody thought ICOs were the greatest thing we're going to continue on after 2017. Right. And then they kind of disappear. Not that meme coins are the same thing, but it's this idea that every cycle seems like there's something that kind of sticks around with crypto through that cycle. And then it gets forgotten about through the next cycle. So we'll see after this. But right now, yeah, I think meme coins are a place where, you know, you know, traders and maybe even investors can get in for a bit. I would be concerned about the end of the cycle, though, and what happens to them after that. But as long as we're in this bull cycle, I think they're still good to go.

When do you think the end of that cycle is? Oh, man, there's there's there's the million dollar question, right? I've talked quite extensively about, you know, the two possibilities, one being this idea that we kind of top out end of Q3, beginning of Q4 of this year. But then I said, you know, I'm actually leaning more toward the other side, which is potentially something more akin to 2012, 2013, where we had that double pump kind of thing going on. And the market continues higher ultimately through 2025. And so I don't know which one we do. I'm really leaning toward the latter, though, where we can continue on toward the end of 2025. We'll have to see, I think, how this next push up into the new all-time highs goes uh to really get a better feel maybe for whether whether we do just kind of end toward the end this year we can extend on for another year

yeah that all makes sense uh william what do you think about the cycle length and then robbie same question to you before we start to move towards wrapping way i mean they're robbie what do you think uh for the cycle do you think we've got a lot more juice to squeeze here early late middle i do actually but you know that's the nature of being in web three you're kind of generally bullish but yeah i honestly i think we got at least another year personally um and that's just because I feel like a lot of things are just getting started. Well, there's a lot of attention on things like meme coins and stuff that's highly volatile

and kind of fast money. I see a lot of steady progression, particularly in the game sector. I mean, GameFi continues unabated, particularly in Asia and other kind of non-US, Europe geographic locations. And I think, you know, that train's not slowing down for quite some time.

I tend to agree, William. Sorry, I was... I think if anything is going to happen that's going to be significant, it's going to happen before the end of June. There tends to be a bit of slowness in the summer, obviously. So I'm looking to see what's going to happen in the next two or three weeks. And then we can take a read from that and go forward. Yeah.

Why June specifically? Sorry? Sorry, what was the question? Why what? You said by the end of June, right? I mean, I've watched the cycles year after year, there seems to be a slowdown in the summer. And things that happen in the summer are things that just happen. And not that that things that were

planned so much. I know we had the Solana summer, everybody talks about it, but trying to duplicate things that happened before is not always easy. So that's basically my main point is that things that are planned are going to happen before June and things that happen in the summer are usually not planned. Got it. All right. Well, everybody, we're having major major tech issues. Mario can't hear anyone ran can't speak. I can't hear some of the people that have come up. So we're gonna have to wrap it, run it back and try again tomorrow.

Thank you to all our guests. And hopefully, tomorrow we'll have less tech issues. Have a good one, everybody. Bye.