Bitcoin Had a $1 Billion Wipeout...What's next? Transcript, AI Summary & Key Points

00:01 Welcome back to Cryptos Us. I am George. We're all George. Welcome to another market open stream. Today we got to talk about that wipeout. Nasty $1 billion wipeout. So, what's next? Let's talk about it and talk about everything else that's going on in the world, including Clashpad. All right, let's do it, guys. Let's do it. Welcome, welcome, welcome.

00:34 We are starting out a day at $83,000. And actually, if you if you look at it that way, we're we're not in a bad shape. Although, yesterday it did get a little scary. We fell down all the way to 80,000. It seemed like we might have had the possibility of breaking in the 70s, but no, it always happens when you have these large wipeouts, right? things move very quick but still I mean we still have strong resistances all around but we have bounced back up to 83,000 and some of the alts are recovering slightly and today the

01:21 US market is green so that's good yesterday was pretty nasty pretty nasty yesterday of course I mean nothing new more worries about bond yield being high, about oil going up, about the Middle East escalating, and it does seem like those things are still in play and things may be escalating even more. There was a pilot killed uh at an airport and Saudi le coalition vows firm response.

01:59 So yeah, doesn't seem like what's going on in Middle East is dying down. But Trump also did say this. The US will not attack Iran before midterm election. So Trump obviously knows what's at stake. um he really doesn't doesn't want to do anything to upset things I guess at the at this point right now a lot of people are anticipating that we will get a rally right before midterm and it could possibly carry afterwards the end of the year.

02:42 I think he's hoping that that that is the case. And of course, he's hoping the Republicans uh win the midterm. Sorry, I don't know why I keep losing my voice. So, we'll see. But this thing uh this war, obviously, the US being in war with Iran in the Middle East just seems to be dragging on and on and on and on. And a lot of people are feeling quite unhappy about it because of rising oil, rising inflation, rising everything that are no good.

03:13 So those things really didn't change. Didn't didn't change at all. But Scott Bassen's new advisor says the bond yield could be coming down soon. So don't worry. Don't worry. It's going to come down. I don't know about that. I I just don't like right now. I don't even see what's going to bring it down. Cutting rates may, but we're not cutting anytime soon.

03:44 We're actually going to get a hike before the end of the year. So, I don't see cuts coming at all. Oil has to be down down. The war has to be over for that to happen. So, I don't know how yields are gonna come down. Even with all those things happening, the US deficit skyhigh irresponsible spending continues. These are reasons why yield is so high and and why a lot of people are afraid and what's going to happen with our financial system if at all pops.

04:20 Right? This is the reason why a lot of people have put their money elsewhere in assets and in crypto and other things. So we will see uh what else what else happened yesterday that was very significant. Uh this JD Vans had a press conference called a lot of companies the biggest one Microsoft abusing the H1B system and they withdrew the perm the perm thing from Microsoft Adobe and like seven other companies.

04:57 So, it was a big stance against American companies that supposedly were taking advantage of this, but doesn't seem like it's affecting Microsoft. They're actually up today. You would figure like, oh, Microsoft would tank or something if Wall Street thought this was a big deal. Uh, guess they don't. We'll see. I I honestly think all tech workers, they need to watch out.

05:26 Every single tech worker needs to watch out. In five to 10 years, most of them will not have a job anyways because of AI and how fast advancements have been and will continue and will only escalate. So all the all this is temporary. In 5 to 10 years, you're not going to need to hire nearly as much or at all really. It's probably just more downsizing in 5 to 10 years.

05:58 All right. Uh outside of that, uh OpenAI revenue came in low. They said they were going only half 50 billion annualized revenue, which is already a lot, but it's lower than the expected 68 billion. So some of these companies like Nvidia, Oracle, and stuff, Sync, I don't know. I think it's temporary. Open AAI though, I will say, I'll talk more about good, they're really shooting themselves in the foot right now.

06:25 They're making all the wrong moves. Anthropic is making all the right moves. So, Anthropic's growth is going to be unstoppable this year, I would say, leading to their IPO, which should be coming next month. And it's going to be it's going to be crazy. Probably probably crazier than SpaceX. So, if you're a stock investor, look forward to that. All right, going back to Bitcoin and crypto.

06:54 So, what exactly happened? Yesterday, we had another outflow day. Not nearly as bad as day before. Okay, during the day wasn't that bad. It was toward the afternoon and night it got worse and that's when the liquidation start happening. But overall, we had over $1 billion dollar worth of liquidations. $1 billion led by ETH. Not even led by Bitcoin. Normally, it's always Bitcoin, but led by ETH.

07:37 people love love to throw on that leverage for heat. I I will say some of mine did also get liquidated as well. I mean, I only had 3x. Some of these alts move quite a lot. So, I'm I'm a victim of this and I tell you guys this, you got to be careful, right? You should set your stop losses and stuff like that, but sometimes I just let it ride and this is what happens.

08:04 So, I could see why these figures are so high. They compound and once you get addicted, you just don't ever get off of this drug. But, uh, yeah, $1 billion. So, if you're going to play with leverage, I suggest you don't, but if you do, go with 2x, 3x at most. Don't do 10, 20, 50, 100. You're just gambling at that point. and most likely you're going to get liquidated.

08:35 So don't do it my friends. Don't do it. But this is a big reason why we fell down almost to 70s, okay? Because when you have all this happening, there are a lot of cells going on. It compounds on top of each other. And that's why we get these like sudden like these sudden wicks, right? We had this sudden wick downwards and then we like recovered. So this is what happened.

09:06 What we want is the opposite, right? We want a sudden wick to the upside because of short squeezes, not long squeezes like this. But yeah, that's exactly what happened. That's exactly what happened. And you know what the good thing is? We took out all the liquidity, all the longs basically on the downside. But look at all this on upside now. And those are all shorts by the way.

09:34 So from our level going all the way up back to 874, you know, let's just call it 88. A lot a lot a lot a lot of leverage short contracts waiting to be liquidated. So we could bounce right back up. we get a good long squeeze or I mean a short squeeze and drive us higher. But yeah, there are a lot of levels now. So, we will we will see. We will see when that happens.

10:10 Uh what else? Not too much else going on. You know, there's a hidden signal. What is that hidden signal with Bitcoin's price? I mean, there's a lot of stuff like this. This is showing what is it a bullish divergence where RSI is going down and price is going up. That's a hidden bullish divergence. I mean we have a lot of metrics like this. Okay. I don't think I need to convince you guys that we are recovering.

10:43 We are heading back up. All the charts and metrics say that. But more importantly, the money is flowing back in. You could see that the ETF flows are very positive in billions. Liquidity is going up. So, you know, this is all like shortterm, right? What's going to happen short term and you know, it's 50/50 sometimes. This is talking about how we hit 81 811 and are we going to pull back more?

11:18 Are we going to bounce? what we bounced, right? So, things aren't always as bad as they seem. Sometimes it could look pretty scary. And that's usually when you need to step back, take a breath, close your computer, don't look at your phone, and just step away. And then you come back and you're like, "Okay, it's not so bad, and we're recovering." Happens every single time.

11:48 Or you could look at it as a good buy opportunity. It's a good buy opportunity like what happened on Clashpad yesterday and even today. I'll get to that in a second. But the last thing I'll talk about this, a lot of people are fans of Sooie. They're launching a new L1 called Hashi that allows users to use Bitcoin as collateral without moving off the Bitcoin network.

12:15 There there has been other networks like this. Goat Network was another one that did this and there was another one is it core that did this. So we'll see if Suie is successful in this. Um Suie did start another chain that was like it was like a storage chain. I don't think that ever did really well. So we'll see how this does. Suie itself hasn't done well in this crypto winter but they did really well last year in the last few years.

12:42 So, I'm hoping they'll bounce back and I'm hoping this is wellreceived. Obviously, going into the Bitcoin realm is good, but you know, lending out Bitcoin that has always been like lend like Bitcoin DeFi, it's been a little hairy, iffy, and we'll see. I don't know the specifics on how they're going to do it, but hopefully hopefully it's good. All right.

13:14 That's pretty much it. Uh, still green. Kind of holding. We're still positive right now versus 24 hours. But, uh, stock market today kind of mix. I think today could go both ways. Yesterday was like a bad day. So, today could be like a relief day, a rally, a relief rally day. But we will see. The conditions right now, the macro conditions doesn't look all that great.

13:43 I'll say that. But you know what? We have seen worse. We have seen worse. And as for Clashpad, the rewards continue to go higher. And there are a lot of rewards waiting to be distributed, too, because of the launch yesterday. Okay, so we're almost up to 1300 and now we have two official coins. Last night, if you were in Discord, I told you guys something was going to happen.

14:18 A lot of you guys are in Discord. I did launch the FPS coin yesterday for Front Line. So, it's for season two right now. Front Line is free to play. It's a browserbased firsterson shooter, and we have tournaments around that. And in fact, we have a tournament tonight, but season 2 is going to be so much better. So, I'm currently developing season 2.

14:43 New graphics, new weapons, FPS will be an in-game currency that you can use, new destruction, new everything. It's going to be a really good firsterson shooter. NCWD is still being developed, developing both simultaneously. So, just to let you guys know, and the flywheel effect for Clash is kicking in hard, although some chose to sell off Clash, which makes no sense because of the dip and because they want to FOMO into FPS.

15:17 You don't want to do that. But anyways, the flywheel effect will continue and we're going to accumulate a lot more clash as volume picks up. And I've been telling you guys that. So, just FYI, this is all for Clash. This is why called Clashpad. Uh, all right, let's do some Q&A. Can you use a controller for your games? Sure. If you have a controller hooked up to your computer.

16:10 Clash World. I mean, it's like I I can make it. I mean, it's like a GTA style game. You could use your controller if you want to. If you have a controller on your computer, sure, why not? I'll make sure that it works. But both games are going to be amazing. So, tell you that just working 247 on both. I've been doing that for a long time. Uh yeah. Uh as for Cryptoark, I reached out to him and then we're trying to plan something.

16:47 Oh, I didn't know he mentioned that. So, yeah, and we'll set up uh I haven't gotten back to him, but I'm gonna try to set up something where uh I've never talked to Cryptoark before, never met him in person. I've always missed him for some reason. But yeah, I'm going to go talk to him, go on a show, talk a little bit Bitcoin and crypto, and maybe talk a little about Clash, too.

17:45 Why is there no more comments? Does the chat die or something? because not one comment has been said since the the last one or no one has anything to say. Uh which is fine. I'll just sit here quietly for the next five minutes. How many players in a tournament last week? Limb said it was about 10. We'll see if that goes up. Networking, everything was solved.

18:28 It seemed like tournament was going good last week. Nothing really changes for this week as I continue forward with with upgrades um for season two, but if you go to Frontline FPS, this is where you go and it says season 2 is coming along with the the token link to Clashbad. But you know what? Any of you guys can go in and practice and play now. I mean, it's all set up.

19:00 All right. But um you know he had a ask clash account. Any real chance CWD hits $1? Yes. Everything that I have produced realistically have a chance to hit 1 billion. I mean, in a bull market, it's not that hard. As long as you have the right community, the right leadership, the right products, I just don't see any any product any project that has an ecosystem like ours.

20:13 Yes, we don't have our own L1 or L2 yet, but we got a complete package. We got we got all the all the things. They're all unified. Yes, they could be more unified. There could be more things done, but we're going the right direction. And I think the game is really going to be good. Clash World is going to be amazing. I think it'll probably come out right around when GTA 6 comes out.

20:43 I think there will be many things that we do that will be better and it's going to surprise a lot of people. I mean, the overall map for GTA 6 is going to be much bigger. You know, the the story the the side storylines, okay, the the solo play for GTA is going to be much better. But in terms of online play, missions, what you could do inside the game, how it's all integrated is going to be very different.

21:16 And we'll see. I'm very I'm very hyped up about when when Clash World is done. I'm very working very hard at it. And same day with Front Line. Front Line will be done sooner. But I think when it's done, season two will be a much more complete game, one that people enjoy a lot more. And with the token, there will be more that we can do, especially with the tournaments that we continue to have every Friday.

21:45 So, I think there's going to be more to that as well. Will you use NPCs from Clashpad projects for Clash World characters? Maybe. I talked about it. There's a couple things I'm developing in house for Clash World. Number one is uh a character creator which is harder it seems mostly because of hair to get hair right is it's very difficult but it's almost done so basically I could plug in any any figure any picture and it'll make a 3D a 3D MPC for the game and that's going to be huge because one of the things GTA 6 has

23:04 is like a ton of people like all the leaks and everything that has shown it's just like if you go to a beach there's like a hundred people standing around everywhere we go there's like a lot of different kind of people everywhere right I'll have that same ability I'll be able to program in a thousand different people random people or different areas of the maps I'll be able to do that too soon once I get that that generator done it'll be very easy very Easy.

23:33 Another one is cars. I built a a engine to basically take any car and make a 3D a really good looking 3D representation in the in the game too. So that's almost live too. And a lot of other stuff like building destruction. Destruction overall is going to be very different than GTA 6. I don't think you could destroy buildings in GTA 6. You can't do it in GTA 5.

24:04 you'll be able to do it in Clash World and that's a different thing too. I'm even going to go program one of the weapons being air strike which is going to be wild. Uh so stuff like that. This could be this could be awesome. Will we bring back Salana reward for tournaments? No, don't. That's why we have the FPS token. That's what this is for. There'll be in-game purchases, upgrades, and it'll be used for tournaments.

25:13 What do you think about creating our own business as memecoins and Clashback? You shouldn't even think about these as memecoins. Really, they're community coins. And I welcome serious people with serious businesses to create. All this is is really just a launcher. It's a really easy launcher for people to create a token. Now, if you wanted to create a token for your business, go ahead and do it, right?

25:40 Like, if you have some good use case for a token for your business, by all means, you know, you're still catering to your customers, which just it's just your community. is the same thing. kind of a stale. Today is Friday, too, right? Every day is like the same day to me, so I can't even tell. But h I I forgot to say happy Friday. It's Friday. I've been thinking about it for my sprinkler company.

26:50 The details elude me a bit. What details would you like to know? You should talk to a cryptozombie. He He's always AFK. He doesn't really respond. He doesn't do videos consistently. Uh but he's a nice guy. I got some wild stories about him that I'm not going to share. We've hung out a few times. Um, but he doesn't he's always AFK. He like never answers his DMs.

27:40 A lot of creators are afraid of launching their own token because because all the all the other ones that have died and they don't want that bad rep and that's because they're just not willing to work for it. They don't want to keep supporting it, right? They just want to do their thing as a creator and that's it. And I understand that. But it's not as negative as people once perceived.

28:07 the negative connotation. As long as you're not plan on rugging and you plan on supporting the Tokyo launch, I don't see anything wrong with that. Nothing wrong with that. And that's Clashpad is designed to do that to reward actually holders get rewarded in the soul or the token that you're holding. You know what's better than that? Shane, don't ask stupid questions.

28:59 Okay. And it didn't crash 40%. You're on the verge of being banned. So Josh just sent me this Ledger is investigating reports of loss funds from users in the souththeast Asia who purchased products from a reseller called Crypto Billies. As a precaution and appending results of our investigation, we asked Crypto Bills or Billies, I don't know. He's they spelled it wrong.

29:34 So, this guy probably inserted some hack or some back door in the ledgers that he has sold. So, I don't know if any of you guys purchased from this guy. Uh he must be so big that Ledger knows about him as a as a reseller. Stephen, if that's really true, then get in Discord and share what it is and I'll investigate. It could be because it's just so new it hasn't showed up.

30:41 Raleigh, if I create a coin and I'm not going to develop or promote it for a few months from now, is that a problem? It's not a problem. It just doesn't do anything. Why would you do that? Why would you not just wait a few months then? Launch it when you're actually ready to do it. Otherwise, it's not going to recover if people see that you it's a dead coin for months.

30:58 What's the what's the point? Yeah, I I don't even know. I mean, like, why would people be purchasing this guy? Why would you not buy directly from Ledger? This seems kind of weird. It showed up in my Phantom W and then it was gone. Probably hidden because there's no Phantom wallet thinks all these new coins could be spam coins and if there's no activity, it hides it.

31:43 You just had to unhide it from Phantom. When's the next time we drink Blue Label Clash hitting a 100 million new milestone CWD or or FPS hitting a 100 million which could be very done very easily. There's not a lot of liquidity in those LPS. They could skyrocket like crazy all of them. What do you think about Ripple? >> Well, I mean, I think it's too centralized, but I definitely want to meet Chris Larson.

33:05 >> Uhoh. >> Oh, man. Now, now I've done it. Now I've done it. Now the XRP guys are going to be going nuts. Jeremy, welcome. Good. That wasn't supposed to happen. I don't know how that started playing. I swear that was not intentional. Stephen, do you ask about the LC500 every single stream? Like I I feel like there's only one person that asks about it every stream and it's you.

34:18 No, I haven't been riding it. I rode it like four times this year, so no, I have not been enjoying it. The only thing I enjoy really about it is looking at it and seeing the price go up. ASDX FA maybe as incentive to creators. Crater ones which highest volume or fastest graduate the creator gets rewarded. You get rewarded because you get a first buy first of all, which is massive already, right?

35:01 Even though there's a fee for the first buy, but it gives you a huge advantage because you're buying the coin at like sub there's no market cap. You're getting a huge amount. So, you don't need any more of that. You go get a large percentage of the supply, which means that you're going to get a large percentage of the rewards overall already. Most of the launchpads out there only reward the creators.

35:26 So what incentive is there for them to keep it going after they have made all their rewards they just leave that's it that's why so many people get rugged right so this way not only the creators get rewarded but the whole community get rewarded. So that's why it's a different system and people have thanked me because there there's no better like payout at this point.

35:56 There is nothing out there is better. So especially well CWD was holding very well around 2 million and a lot of people sold off for FPS but I expected to go back to 2 million and FPS probably getting 2 million too. But once these level out, you're just getting recurring yield, recurring rewards because all the bots love to trade them. The bots keep trading and that's where all the rewards come from.

36:24 So, Oh yeah, it's not 917 almost to a million. The demand is so high actually there's like a backlog of soul rewards for FPS and CWD. Uh so we we have programs so it can only sell a certain amount per day and per hour to give out as a rewards. So demand and volume are so high on both especially with FPS there are actually a ton a ton of rewards waiting to be distributed.

37:56 It may take a while before it catches up. So, just just so people know, there are a lot of rewards coming from both for CWD and FPS and everyone else. I know there's a lot of creators also. I've talked about Baggie. She's doing all she can to promote uh doing well. You know, Potcoin is doing well. Jorge is doing well. They're holding, right? They're not going up and down.

38:33 They're holding, but you're just getting rewarded for holding them. You know, almost seven soul here, 11 soul here. Alberto at nine soul here. A lot of these, even though they may not be moving, you just hold it and you're getting soul back or the coin back. Like total, you know what? There there's no one else. There's no other launchpad where you launch something and it's at like 6K market cap and it has paid out six soul to holder.

39:03 It it just doesn't exist. Nothing else out there has something like this. There are other systems that do reward sharing, but it's just not as done the same way as us. It's pretty incredible. GG also doing well. 44K market cap going up already. 15 soul rewarded All right, guys. I'll get to it. Back at it. So, today is just like uh you know, sideways day.

40:22 Not good, not bad. We're a little bit better than yesterday when we found 80. We got cleared out, wiped out $1 billion dollars worth. But you know what? Continue to hold off DCA. Hang on to your Clash. Hang on to your CDW. No, not CDW. CW, CWD. Hang on to your FPS. You will be rewarded. Better days are coming for sure. So, all right guys, have a good rest of your Friday and weekend and I'll see you guys later.