BITCOIN: HOLDING ON FOR DEAR LIFE!!!!! Transcript, AI Summary & Key Points

00:03 Oh yes, oh yes, yes, yes. Guys, welcome to another episode. And as right now, Bitcoin is still at around 81 and people are as usual freaking out. But I'm here to remind you about my view on the situation. I am still bullish Bitcoin and crypto. I do see people flip-flopping. Even Anom is saying that he's more careful this and that. We're going to play a video where Anom came out and said that he's a bit more concerned.

00:29 But at the at the end day, what we look at is our system. And there is literally no reason for us to change based on the recent market events. Because if you look at what actually happened here, what took place during the last uh week, two weeks, three weeks, literally nothing has changed. We have been, just as a reminder, we have been at 74 just a few weeks ago.

00:50 And this was of course a big big panic for everyone back then. Now we are at 81. We are still in the bull trend. We haven't broken down from May high. And even if we do would be in the bull trend. We are above the 200 moving average. We're still in a very very nice formation here timing wise as well because we had a year since the peak and normally it takes a year to find the bottom.

01:18 And uh all in all the time to be bearish was right here. Right here. Time to be bearish is not right here. Very important. Very important. So based on everything we've been doing from d-risking in October 2025, uh getting into AI stocks earlier this year, getting away from AI stocks into into crypto here starting at below 200 book moving average. Our track record is very good.

01:49 And based on the system, we just follow the system. We don't know the future. No one knows the future. I know the future. I'm not a fortune teller. I'm just telling you what I'm doing. And then what the hell you do is up to you. And you could lose all of your money in crypto. Always, always, always. You could lose all your money in crypto. Embrace this disclaimer.

02:06 Become one with the disclaimer. Be fully connected and united with disclaimer because that's how it is in crypto. You could lose all your money in stocks. You can also lose your money. Most people lose money trading in any market. Why? Emotion. Why? They read something, they become scared. Why? They see something happening. Even if they get a good strategy, they cannot follow it because then they list someone else that tells them some something different.

02:36 They change strategy, mid strategy. I mean imagine whatever you're doing whether it is you have a playing football you whether it is you're driving car whether it is doing something and then you just change the whole strategy in the middle all right so uh based on the current market situation there is no reason for us to change bull bear but people are changing people are changing all the time I I think ran from crypto banter he's bullish he's bearish I think the latest is he's now bearish you have anom now saying that

03:09 He's bearish after pumping up his memecoin, by the way, for uh the the next bull market. Basically having this narrative of next bull market. Now he's cautious. He's cautious. Cautious. Listen to this. >> Are you drisking or are you shorting? Are you shorting? >> I'm doing both. I don't recommend people shorting really because this is like this is not the beginning of this downtrend.

03:34 you're like at I think right now for Bitcoin and ETH and SOL to be honest, you're at like a pretty key support level. So, you're kind of shorting into support right now if you were to short right now. And so, you kind of have to be very nimble with getting in and out of it. And it's the worst to be wrong on a short, lose money on a short, and then this whatever you were trying to short goes down anyway, and you don't have a position, that's like doubly [ __ ] So, like I I don't really recommend most people to be

03:59 shorting. I think you kind of can like um d-risk and take profit if you're up on positions or or cut positions if you bought near the top and then reenter on wherever you want to. Um >> you know 432 banks look stressed. I am [ __ ] stressed, bro. I am stressed. You're heard the guy like >> Yeah, it's tricky, bro. It's a It is It's a really tricky spot.

04:16 I'm not going to lie. It is tricky. And I was like super bullish. >> Um I think last time we had an episode I was like super bullish. I was like, "Yeah, I think we're pulling back into a key level. Good spot for um support to hold and kind of expect Yeah, I was like, yeah, listen, for us it's quite simple actually. There is no reason to be bearish until you have clear signal.

04:38 I don't know what signal he has, but for example, should we go into bare trend? Okay, that's that's the reason to be bearish. We're bullish on everything bull trend. As soon as we go bare trend though, then okay, situation has changed. In terms of NASDAQ, for example, NASDAQ is very close to bare trend. Uh, still bullish. We don't become bearish if it doesn't go to bare trend.

04:57 here for example it went below then boop to the upside. So if you want to become bearish on something then go to a stock market on if the stock market goes bare here is going to be a big signal for the stock market. If S&P goes bare here is going to be a big signal for the stock market. For Bitcoin though is bullish. It's quite far to the bare flip.

05:18 Bitcoin is we have such a big high safety margin for the for the bare flip that it's uh it basically has to fall all the way here to 200 week moving average uh for the bare flip can it happen nothing is impossible but I'm just saying you tell telling you what I'm doing then what you do up to you guys up to at the end of day what you do up to I'm telling you what I'm doing and um it's not easy even when you have a nice strategy I just see that you know most people are not made for They're not made for it.

05:49 Too emotional. Too emotional. Um, look here, for example, you you look at this bull trend from 2023 all the way until late 2025. It looks so clean. How could you lose money here? How could you lose money in such a nice green bull trend? But unfortunately, most people, they're not made for it. Even when you have a nice bull trend like this, they are absolutely not made for it because within the bull trend, you do have a bit of volatility.

06:21 And we did didn't even have that much volatility. We're down like, you know, 5 7%. Here, you had something something else in 2022. Actually, early 2023, we had volatility here of 22%. Within a bull trend, here we went down 18%. within a bull trend. So yeah, I think for many people they really need to ask themselves what the hell are they doing here?

06:48 What the hell are they do? Because crypto for crypto to have 20% volatility it's normal within a bull run. So if you've been here many cycles and you still haven't made money and you're worried and you see man you're worried you either need to take it seriously and start working with the system. In bulmania we have clear strategy clear rules or or I mean to some people I say if they cannot handle this kind of volatility some sometimes the the truth is that you should really consider what the hell are you doing here for

07:24 example now the amount of emotion of this 6% drop is quite insane and also I think this industry we've become a bit soft uh overall people in this industry have become super soft I remember back in 2017 guys we had we had craziness business when back 2015 2014 man we such volatility that today people don't even imagine today people cry and piss in the pan of 6% volatility within a bullsh uh so yeah something to think about especially as the emotions run high especially as um the yeah the average player right now is is

08:01 struggling he's struggling especially without the system but you guys here you guys here Together we're going through this together. Each and every day we are covering the market. Big shouts everyone here. Smash up the like. Uh big shout out to Dub for time stamping us. Very very nice. Let me know how doing this uh Friday man. Already Friday. Time flies.

08:24 Time flies. Also look here. Banks have big problem. Justin Morgan Stanley, Bank of America, JP Morgan, and Wells Fargo detect unauthorized AI agents accessing customer accounts and attempting to act without user interaction. There you go. There you go. Even bankers cannot protect their systems. Okay. It it's going to be very interesting how the banks are going to react to all of the AI because you see a lot of the banking infrastructure is done in cobalt and there's like one guy that knows it because it was done so

09:01 long time ago. They run such legacy systems from such a long time ago. If something happens there's like one guy maybe one and a half guys because it's like two guys and they have to be in like different banks only they know what's how is going on how it's all set up. So based on the the the recent AI uh AI hack announcements, bankers are in a very very bad spot.

09:28 Bankers really need to pay attention here because all of their legacy systems uh not only are they old and no one really understands them. If something happens, the guy who created it is already dead many years ago. You have another guy that kind of understands it. and how they're going to manage it is is going to be very interesting. It's going to be very very interesting.

09:50 So yeah, you see crypto it has a quantum risk. It has all kinds of risks but banks also have it. The the trady they also have it. So it's it's not just crypto that has the technical risks. You also discuss we also discussed gold yesterday. Potentially gold they can make new gold. Alchemy seems to be solved now. It's probably going to take some decade for for that alchemy thing to really heat up.

10:16 But it is true that within the coming years you could do synthetic gold. So Bitcoin is actually if you if you look at the comparisons if you look at comparisons actually looks quite okay. I I say that I say that the Bitcoin position has improved during the last weeks due to the air hacks because Bitcoin now is not alone in this uh world where tech is a potential risk.

10:41 banking you have the same gold man you have the same you have the tech risk that they can do new gold so bitcoin is now not alone in this um in this situation and because we have a bit of volatility here many people start flip-flopping including anam big shout out to cryptobanter but I think now they are a bit bearish also uh but you need a system we're going to also be bearish and if we go bear we're going to be bearish but we have a clear system a clear strategy clear rules and uh it's exactly the same by the way if

11:09 If you look at 2023 here, we had initial pump then quite a lot of volatility. I just showed you here. This one right here was how much volatility? 20 22%. So yeah, very common in the beginning of the bull markets. Very common just like you guys are saying in the comment section. You have smart audience guys. You you guys are smart. You guys are smart.

11:32 Uh you guys are seeing the market for what it is. But many people don't. Now in terms of uh other news we have let me check the earnings. Let me check the earnings. The earnings um here here one second. So Meta we covered yesterday. Uh Meta was bullish for the AI space because their Muse AI is is a big thing that they are successful with. Uh let's see if something else happened.

12:03 Tes Tesla we just covered that be crushed it power is the real AI trade here you can read about the next step in the AI evolution where it's not only about the data centers chips but also energy so here you have be lamb research record quarter Yeah. So, so far so good with the earning season. Uh concerns in Middle East as always this year there's every concern in the Middle East.

12:49 Now maybe a bit more people are saying the embassies are evacuating could be a factor. Uh at the same time we check the charts. What do the charts say? the same as last week and the same as the week before for Bitcoin in the stock market. This ones S&P looks uh quite good. Uh actually S&P is going to open a bit higher today. I mean I'm looking at the futures.

13:14 The futures are a bit higher today. So that's good. So the S&P doesn't really care about the recent announcements with Middle East. You may have seen during the last 24 hours that there is more concerns about uh Saudi Arabia, more concerns about UAE where the US government is evacuating the embassy personnel. Could it mean escalation? It could of course and we react in case something happens.

13:41 So NASDAQ for example is the one looking the weakest. Okay, it is the biggest a exposure here. So should NASDAQ go into bare trend that's going to be a very important signal to for example move to S&P if you want to stay in stocks just being in the bullish thing because NASDAQ could here potentially revisit the 200WE moving average at some point I mean we don't know when but here for example it came quite close here it came below it so 200 moving average is a very important uh long-term moving average like the bullish

14:11 support for NASDAQ and if it comes here it will still be bullish it's just a long-term bullish support. It's going to come back hereop boop, get a bounce and continue up. But we don't want to ride this bare trend to the 200 moving average. Then it's better to be in other bullish things. So just as a bare scenario for NASDAQ to keep an eye on uh but this this is not middle east because S&P is not affected.

14:36 This is more the AI bubble concern that people have with the NASDAQ. And what else? Gold. Even gold is dumping. You see where you going to hide? Even gold is dumping. Fiat hyperinflating, gold dumping, stocks, S&P, okay, NASDAQ a bit shaky, and Bitcoin probably is the one that looks uh from a riskreward perspective the best to me. Why? Because everything else is around the alltime high.

15:07 Whether it's S&P, whether it's NASDAQ, it is a trade which is quite exhausted because both NASDAQ and S&P is driven by by AI of course. So when you look at the AI trade, just like Qua is saying here, the AI trade is extremely uninteresting compared to crypto at this moment and by 2028 crypto will remind everyone who the greatest market on earth is. Yeah, I think also I think I think in the same way because if you look at how the charts look and the fact that you have crypto now for the first time since last year

15:41 getting into [ __ ] which everyone is underexposed to because think about it if AI trade is over if a bubble is really collapsing where going to go you want to go to fiat go to fiat is that we're going to go because that thing is kind of hyperinflating that's why the bond yields are so high why are bond yields high because people are worried about hyper inflation.

16:04 So that's number one. You could go to cyber security. Cyber security looks quite good overall by the way. Uh you look at crowd strike. Look at other sectors. Um other companies within the sector. Crowd strike got a nice support. So that that could be another opportunity. But it's not a new thing. You see here with cyber security in bull menu we've been discussing it for months six plus months and crowd track has been in a fantastic trend and this trend is likely to continue the more you have AI hacking AI uh chaos in

16:45 the in the in the tech world. So that's likely to continue. So you will not be exposing yourself to something new while Bitcoin and many old coins are new charts. So just based on riskreward where you want to be in new trends for best riskreward crypto is the best and again we're not mega maxis we be we become bearish when it's time to become bearish for example last October and beginning of the year we were in AI stocks then cyber security but from a risk perspective in my view Bitcoin is amazing amazing by who the

17:22 hell knows could go to zero No, but I don't know. You know what this mean? But I don't know, guys. What you do is is up to guys. Let's go. Let's go to Q&A questions, answers, debates. There's not too much news in crypto lately. Also, you see in crypto, we don't have like too much news. Uh during the last three weeks, it's it's mainly AI news. It's mainly this, you know, everything is getting hack news.

17:51 Uh not too much uh crypto. Let me just see if I so I haven't missed anything. Um there's genius this and that. Tana went with Al Alpenlow. So that's good. Oh guys, big news. Mc Rib guys is returning. So the bull market is saved. You see here, M crib. Every time McRib returns to McDonald's, uh, we have a nice big fantastic pump. I've never I never eaten macrib.

18:38 Where is it? Which McDonald's has it? Is it in the US? Oh, guys, guys, guys. I mean, here it's going to be a bloodbath tomorrow. I have a few of these posts I like just just to highlight. So, a lot of FUD in the market. Uh, look here. It's going to be a bloodbath tomorrow. US military assets this and that. And what happens tomorrow? S&P wants to open higher.

19:08 That's what we saw with the futures. Yeah, you really need to distinguish between engagement farming and the real analysis. Here, for example, look at S&P. This is S&P closed. What what it closed at? And this is the futures. You see, it's higher. The futures are higher. And this guy was like, "Oh, it's going to be a blood bath tomorrow." What are Oh, yeah.

19:28 Then this this lady, another one. Look here. Look here. This the kind of stuff people share. Over the weekend, I spoke to my uncle who's a very senior at a who's very senior at a major US exchange. He says they're quietly preparing for an AIdriven crash scheduled to take place tomorrow. So imagine this. There is a crash scheduled according to this lady.

19:50 500,000 people have seen this uh post. So they have his her uncle has scheduled a crash tomorrow that will likely dwarf Black Monday. Then what happens? Boop. S&P opens higher. But the funniest thing is, let me let me show you. Apparently, clearing houses have been ordered to pre-margin trades that haven't happened yet. And emergency circuit breaks are already being priced in.

20:25 Look here. And this guy's like, "You have a lot of uncles." Because a year ago she was like, "My uncle, a member of executive board at Black, a year ago, just spoke to my uncle, an executive at Jane Street. My uncle works at the floor of New York Stock Exchange." Now, to be fair, see, but people take it seriously. But to be fair, I think it says somewhere.

20:46 Yeah. [ __ ] posting. It's like my uncle a front desk risk taker for Citadel. you hear I mean you see this a lot now it's it's it is a [ __ ] posting account but many people take it real and also there are many real accounts that post stuff like that all the time you probably recognize my uncle Holy crap guys holy crap guys yeah uh let's see what else cautious cautious is likely going down this weekend people say with uh uh Middle East Uh I wouldn't say I would say don't don't worry I mean looking at the chart there

21:30 there is no issue in middle looking at the chart tell me give show me the chart I'll tell the news so looking at the chart S&P there is no issue in middle looking at NASDAQ okay maybe a bit of issue in AI because NASDAQ is AI the only signal is of course oil I mean oil is very high so that's probably the only signal with uh Uh yeah, I'll just check this one.

22:00 This is the only signal that there is isue in Middle East, but you see it's lower than it was before. It's lower than it was here, lower than it was here. And it's very political chart. They can change this chart at any point. They can they could, for example, open up Russia for the for oil trade. They could do all kinds of stuff. And Trump already did open up a bit of diesel, but it's a very small opening there.

22:21 So this thing we don't trade oil too much because it's a very politically controlled chart which they can put up and down how how they want. You can have OPEC tomorrow they come they decide something it goes down. So but based on the based on the charts the only thing is this oil chart which could be showing that something that something is escalating at the same time.

22:45 Is it more escalating than in August or in September? Not really. I mean according to this chart is it more escalating than in May in April May March not really not according to this chart but yeah of course should we go to like you know 130 for oil things are going to go down like maybe not in a conflict but you know something's going to happen some kind of issue with oil is likely going to happen uh so yeah let me go through some other stuff here that I bookmarked for you guys.

23:18 Oh, of course, cyber security guys. Anthropic's chief security officer is saying that uh things are going to get way worse. As bad as things have gotten in the past for days, they're going to get a lot worse before they get better. Security leaders never let a crisis go to waste. Please go to your board and ask for help right now. Not for AI, for the basics.

23:40 Yeah. So, all of this AI stuff is just the beginning. Oh, someone posted this yesterday. This is my old entry with Richard Hart where he basically explained his plan. Listen to this. They got a bunch of volunteers making their shitcoin worth more when they raised multiple billions of dollars. Like, why does a company that's raised billions of dollars need [ __ ] volunteers for anything?

24:08 What? Because they can't. Cuz people are so stupid. They're like, "Yo, we'll trade you real money for fake money." And then that's what they do. And so what's the from the game theory perspective? What is the ideal profitable behavior for these entities, these ICOs that have raised shitloads of real money and dumped it? Is it to actually do the work and fulfill on their project or is it to just launch a new project?

24:32 They got a bunch of volunteer told you what he's going to do. I someone just posted yesterday. We don't have to go too much into hex. I mean, it's kind of a closed story for now at least, but I thought it was funny. Someone literally told you what he was planning to do years before. This was years before the launch of Hex. Exactly. Exactly. Vulnerability tsunami is coming.

24:52 It's coming. Now, what is this? Parts of the of the of the world has known this. Oh, yeah. Yeah. The guy said it's going to happen. People are saying Jane Street got blown up. Uh, just rumor. Probably not true. Um, Paj, what's happening? Paj Penguin, they do what? Ghost collectible. Uh, A16Z changed their name from A6Z crypto to A6Z Frontier Tech. Okay, let's see what Imran is saying here.

25:30 Uh, thank you for being the first, he says, to A6Z. What? What else? Yeah, there's so much more to invest in basically for them. Uh, hedge funds are betting against stocks at near record levels per Goldman Sachs. Short sales outpace purchases by 5 to one across global stocks. Short positions on Goldman's books are at the 99th percentile of past five years.

26:04 Guys, normally crash doesn't happen when everyone is short. when all of the hedge funds are positioned. Ah, it doesn't happen. Doesn't happen. Uh, sometimes people when they read this, they get worried. I actually want to discuss it because you remember what happened when hedge funds were short stuff like GameStop. You you remember when you are short, you do take a risk.

26:25 It's a risk. You may get wrecked. And normally, let's say Black Monday, people say it's going to be Black Monday or some kind of other collapse. It comes out of nowhere. It doesn't come announced. It doesn't come. Hey guys, be prepared. We got a call. It doesn't come announced. So this is actually bullish when they are short. When you look at the stock market, when these guys are short, the some kind of, you know, black swan is not likely because they they're paying attention.

26:54 Everyone is prepared. Things don't happen when everyone is prepared. Things happen out of nowhere. Boop. COVID bomb minus 30% stock market or how much down it went for out of nowhere. out of nowhere. Um there's never like a record, you know, everyone everyone is positioned correctly. Good. Now we press the button and we go down together and we make Yeah.

27:13 Yeah. That doesn't work like that. Doesn't work like that. So this is actually a bit of a reverse new for me. I mean how I see how how you see it guys up to you. You can lose all your money. You can lose all your money in crypto watching this. It's just entertainment. Just a guy online speak about stuff. Uh let's see. Let's see. Let's see. Oh yeah, doomers.

27:37 Guys, you don't want to be doomer. Are you a doomer? Look here. Lyn Alden about doomerism. >> I say yes and which is basically to say that one can be bullish on gold. >> Why? Why she has this potato camera? Why she can afford a camera? >> Gold and stocks. >> You see it's like grainy as hell. And that's why I keep fading the equity bears. Uh which is to say when we're running 7% of GDP deficits as far as the eye can see.

28:04 Um you know being being bearish on stocks basically means you're you're bullish on fiat >> because you're saying what stocks are going to go down versus the dollar >> and and you know certainly in a year they can I mean that's stocks are volatile. They I mean they went down in 2022 for example. Uh they can absolutely they can get over their skis for a period of time.

28:25 gold can go down versus the dollar. I mean, when it when it when it goes from 2,000 to 5,000 as quickly as it did, as big of a market as it did, that, you know, that needs time to take a breather. Um, uh, and so I I do generally fade the the doomer narratives of like sell all your stocks, just own gold, you know, the the the the reckoning is just around the corner.

28:48 It's more like we're we're identifying that we're in a run in a hot environment which has winners and losers and and generally speaking hard assets have been the winners. So owning gold uh you know let's say since co so for example owning gold owning bitcoin owning high quality equities um uh owning the best real estate >> hard asses guys and actually know with AI the more I think about AI the more the conclusion is guys you want to be owner when you own fiat you're not owner you're you're holding something that can be

29:26 created so You want to own stuff that is hard to create. What she's saying here, you know, high quality stocks that do this AI stuff, Bitcoin, gold, you want to be owner. If you're not owner, you're going to struggle a lot, guys. It's all about ownership. In the AI world, it's all about ownership. Everything else can be created by AI. You gota you gota be you got to own ownership.

29:52 Ownership ownership. Very important. Um, okay. Let's continue. As it's not too much news, I'm just going to continue looking through what the hell I liked on Twitter yesterday because I use my like as a like bookmark. So, when I like some stuff and you see it on Twitter, it doesn't mean that I agree. It means that I bookmark it. So, we can check here what's happening.

30:14 So, yeah, A6Z crypto, they are going to be dropping the crypto from the name. Now, they're just A16Z Frontier. Okay. They want to invest in more stuff. Some issue with Python. By the way, guys, if you use Python, you're a Python developer and um you just double check. There's this e- mudra cert certificate authority this and that. Ju just check what's happening here with Python.

30:44 Oh guys, sorry. The there there is big news actually. There is big fat drama with near intense and incomp computer ICP definitive. Intern was definitive before right and then they rebranded to ECP is it called ICP? I I forget but yeah anyway they are coming out swinging against near. So near as know they have confidential intents and ICP is saying that they stole their tech.

31:17 Okay, you can read here. Uh what's happening? Uh and then the where's the comments? Where's the comments here? Is this near guy? Yeah. So I know some of you are scrolling this thread for my reply. Here is the reply. You can read here. Basically, they're saying that it it hasn't been a secret that uh the tech for near intense is built on similar tech available online.

31:43 Okay. But this guy Dom from ICP is claiming that they infringed on some patent. Okay. So that Taleb Nasim Taleb, what's happening? Every profession deemed white collar, the middle class dream is about to be decimated by AI at much faster pace than anticipated with monstrous social con. Yeah, this one I'm very curious about guys. I'm very curious about this one.

32:18 I'm very curious about this one. We discussed a bit yesterday also there there's not too much need for person. There's not too much need to know hire someone who's going to be clicking button at at computer. There's not too much need. So what are the social consequence of that? What is the social unrest? Yeah, guys, you got to be owner. You got to you got to be owning stuff.

32:41 Okay, that's it. That's it. Own stuff. Own stuff. It's very important. Being in the owner class is the number one most important urgent thing to do. Oh yeah, by the way, this one is a good tweet I saw. Look here. Cannot own stocks with capex slowing. Can't own crypto with quantum and air risk. Can't browse the internet because everything is hacked. Can't own software cuz everything is hacked.

33:10 Can't own gold cuz alchemy is solved. Can't own bonds as inflation and and crowding out and crowding out hurting. Look here. Whatever you have, whatever asset you have, there's always going to be a bare narrative. Always. Always. So, you need a system. You need a system. Otherwise, you're going to be scared. There's always something to be scared about.

33:36 So, what else? What else? What else? Uh, that's it, guys. Let's go to Q&A. Let's go to Q&A. Let's hang out. I was considering should I do stream because it's not too much happening. But even on sideways days, we can hang out. We're gonna have a nice cozy time together. Forever. Together. Forever. Let's see. Gold down. Don't worry. Be happy. But gold is as far as I know.

34:07 Let's see. Did it enter bull trend or not? No, gold for us. We exited gold in January or something. So, I don't really follow it too much. Uh, yeah. Technically, it's going to be bad soon. Yeah. It had this uh bull trend for a few weeks going back there. But yeah, gold for us, it's a finished chapter since like January. And the same with silver. Silver is the same.

34:37 Silver went into bear also somewhere in January. And cryp I mean crypto is the best risk. This is what it is. Is the best risk award. Let's go. Let's go to the Q&A, guys. questions, answers, debates, discussions. Let's go. Which horror wallet do you recommend? Guys, there there's no there's no good answer. You know, there's no good answer. There is zero good answer.

35:05 Again, a treasure is the only one that's left that is that is without drama. Is it 100% safe? Hodell knows. I mean, with AI, no one knows. So, just spread out. Have a bit of ETF. Have a bit of self- custody. Disk. the risk in different ways. I would not touch ledger at this point. U people say other stuff like Enra this and that. Uh I don't like the small ones because do they have funding?

35:33 Do they have like good management? It's it's hard to know. It's hard to know. It's a very complex thing to do a hardware wallet. So I I don't want like some small startup doing doing it. Uh ideally I would like a big one. So it's like treasure left. But I don't recommend it. I cannot recommend anything. Okay? We don't recommend anything. We just entertain.

36:01 See, you come here for entertainment, not recommendation. I don't recommend anything. What about Tang? Tangim had a problem where they leaked private key to their support staff. So imagine I don't know where they have support staff but many people many companies have support staff in like Bangladesh and your private key if they had in Bangladesh it get shared with Bangladesh I don't know where maybe they have have somewhere else maybe they have in Europe I I have no clue where they have but it was true that the

36:31 generated seed phrase like the actual private key was leaked to the support team. So they said that no one got affected because the support team they never read any of this data. They no one saw anything they say. So with tandem it is this problem where you know it's maybe a bit unfair that you that if you make one mistake people lose trust but this is a high stakes kind of thing.

37:05 It's a very high stakes kind of thing. So when you have an app that leaked key, it means that the engineers were a bit [ __ ] where the key like the actual private key got leaked into the logs. So yeah, everyone makes mistakes. So I I want to be fair, but in this I'm just telling you like for for me if it would be anything else and there is a mistake like this, okay, but when it comes to private key, come on.

37:36 What kind of engineers you have? where where they leak the private key to the log and then support team can access it. What kind of head of engineering is that? Uh what kind of um engineering culture etc. So and now imagine AIM imagine someone let's lose an AI on on the system and tries to find even more bikes. This was pre AAI that this happened. So yeah that's that that's a problem.

38:03 What else? Um because see I mean as far as I understand with the tandem I mean it's it's a it's a it's a good thing as as a concept you have the card where your private key is but as far as I understand the key is still generated on the phone and then like get gets put onto your card and so if that key before it's on the card gets leaked yeah it's big problem big problem.

38:30 Keystone I don't know are they big do they have like a big operation but yeah probably you can you can spread out you can spread out a bit tangent main function is no private bro what what do you mean no private key there is private key it's just it's on the card it's on the the private key there is private of course to use crypto you need private key so you what you are confused Justin by the way big shout out to Justin He's saying that Tangum has no private key.

39:01 But you misunderstand. You as a user don't have to write down private key because it's on the card, but the card has a private key. So yeah. Anyway, there's always private key. There's always private key. Uh but yeah, anyway. So, it's up to you how you how you do it. Do you do you forgive them? Do you not forgive? It's up to you. I'm just telling you that it's uh it's a bit problematic.

39:33 It's not fully clean. You don't have to defend them to me and you just defend them to yourself. It's your money. I'm just I'm just telling you something happened then. If you're fine with it, congrats. Very good. Very good for you. Do what you want. Don't don't convince me. I mean, big shout to all everyone. I'm saying I'm I'm even disclosing that maybe we're too harsh where someone makes one mistake we are like super negative but the stakes are high.

39:56 I would rather be too harsh with and be so you know guys so you know than to like smooth over because the team already they smooth over in in it's true for any team in any team any team that is has any kind of security issue what are they SAYING IT'S A SMALL SMALL NUMBER of users guys I haven't seen any kind of incident where it's not a small small small like guys the incident it happened we leaked everything but it's A SMALL guys it was like even if it was let's say 30% they would say it's a minority it's a minor

40:40 minority it was 49.9999% of users that got leaked oh it was a small small minority definitely minority maybe not small but absolute so this the team already in all of the disclosures is already like super smoothed over. It was super It's already super minimized. Okay. In all the disclosures, no team is going to be like, "Hey guys, yeah, uh this thing happened.

41:05 You're all effed." And uh here's like the worst way to see it. No one. They already give you like the best polished version. Okay? And I'm here to tell you that hey, listen, if they make a mistake, it's a problem. It's a big problem. You may say, "Hey, fantastic." But don't write here defending anyone. It's just for you. You defend to yourself to your money.

41:28 How you manage your money is just for you. If you want to defend, do defend yourself. Okay? We we we need to be be very brutal here with the with what has happened. Um so yeah, uh there's no good solution. Basically, there's no good solution. Treasure is the only one that is kind of, you know, I don't know how they survive all of this. This far they have survived, but who the hell knows it's they may get wrecked in the future.

41:55 See this is this is not something now with AI it's very hard to even be competent enough to prevent issues you understand they this is why I cannot even recommend treasure because and I'm not recommending anything uh I'm just entertaining uh but even let's say treasure if you have like the best team the best everyone things happen anyway like with PHP we just saw uh this week with uh SSL like things get wrecked today in ways which no one can anticipate.

42:25 So that's why I'm telling you have a bit of different ones. Maybe treasure if you love some of the other ones. Uh okay. Uh maybe a bit of ETF, maybe a bit of trad like mix. So if something gets wrecked, not everything is lost because you cannot recover from everything from you cannot recover if everything is lost because then you multiply yourself by zero.

42:45 And even if you have a 100x, if you multiply 100x by zero, it's still zero because you have no money to put. Okay? So that's it. That's it. That's it. My stock broker say I'm not eligible to trade crypa. Go to another one. Crypto now is available everywhere. So weird that they say you cannot trade it. Why? Which country is this? I mean most brokers now allow you to do crypto ETF.

43:31 The trend of D5 super app is interesting and competitive. What do you think the winning D5 super app interface will look like? Will be aggregator with a Bloomberg sim terminal similar UX. So the super app by definition needs to be like a normie app. It cannot it cannot be a like you know Bloomberg terminal if it's a super app. If it's a super app it needs to be very easy for normies.

43:57 So likely it's going to be something like uh your banking app where it's very easy to onboard, easy to create a card like a debit card connected to your crypto easy to reset account. probably you're not going to write down your private key. It's going to be like login with email. Uh Athena is trying to do it. Uh for example, uh are there going to be crypto super app worldwide?

44:24 It's tough because there's more and more regulation. So Athena is not even available everywhere. Uh and with more and more regulation to have a global super app is going to be tough. But then yeah, you can have like a self custodial wallet like like phantom wallet but it's not really you know super app because super app at least in my mind means that there is bank account connected there your fiat and your trady is all in one because everyone has some kind of straty still and for the foreseeable future it's not going

44:52 to go away. So it's like a mix. Yeah, it's interesting how this, you know, hardware wallet stuff has changed because with all of the, you know, hacks with Ledger and all of that, people who have like mobile phone wallets, seems that they're more safe lately. I I don't know if it's just my impression, but I haven't seen too many people complain that their Phantom wallet got hacked.

45:27 Now, now that that I mentioned Phantom Wallet, actually maybe it things have changed slightly where you download Phantom wallet or Zerion or any other, you know, mobile wallet. I I just haven't seen too many like people complain that they got hacked versus, you know, Ledger versus cold card. So many hardware got wrecked. So it's it is interesting actually how it's uh uh you know the the the wallet landscape before it was all mobile wallets are crap and only horror wallets are good but now hardware got hacked so much I

46:06 don't see too many like zerans and phantoms get hacked of course it's you have bigger responsibility there how to you know store the the seed and all of that but you have also upside you you don't give out your mailing address where or your residential So there are some upsides that there as well. Yo, exactly. Seeker phone. Seeker phone has not been hacked either.

46:30 Exactly. And we get the secret infrastructure. Uh I mean DeFi super app for traders. Um yeah. So uh D5 super app. But yeah, it's interesting question because do we need the super app? That that's a that's a maybe the biggest question because it seems that in DeFi you have a few different things. You have for example lending and stuff and that's one type of user and then you have memecoins and trading and that seems to be another type of user and what you need to trade meme coins where you need like all of this you know

47:06 terminals like GMGN to have everything super real time and to see how the chart and who is getting in and out is it's such a different feature set versus uh lending and just you know getting some yield where I'm not even sure you need like the same app for that. It does. I I don't think it makes sense just as a from a product perspective to have them in one.

47:26 Why? Because to do the trading stuff for memes, it's very complex like to to make um GMGN or other stuff that is like GMGN in real time where you can trade on Solana where you can or like FOMO app for example. Form app is another example to make that great across different chains. It's such a hard thing because looking at the data that you need to process you I mean it's it's crazy.

47:51 So that is like a massive effort to get right and then these people will the people trading memes even put money in like a to get some percent. It's like so different so different. So yeah, I don't know if it's even the same kind of dudes that that would be using the same app. And if it's totally different audiences, then just make two apps that are perfect for that audience.

48:18 And you don't and you don't have to spend so much resource doing that. Um, so yeah, I don't know if it makes sense. The market clearly doesn't think it makes sense because no one is doing that. Super app is a honeypot for hackers. Yeah, that's also true. But I think but I think there is a um a uh a place to have kind of like revolute or some some kind of banker new bank kind of app where it's crypto where you have your um stable coins you have your lending you have your card.

49:07 I mean that makes sense kind of like what Athena is trying to do or kind of like Phantom wallet and you know zero like self custodial was what what they're trying to do. Maybe that's a good like middle ground where you can still trade, you can still swap, but you know, swapping on uh on Phantom and swapping on GMGN is totally different. You know, swapping here is not the same as swapping there to get and also imagine you're a normie or okay, imagine you are DeFi.

49:36 You are a DeFi but you you're a kind of DeFi. you're using a and then you come to your app and you see this like I think the audiences are too different like to see this and you just want to get some yield in your freaking DeFi your brain would explode like this is such a subculture different thing that uh yeah they probably to be separated but yeah simple swapping makes sense simple swapping makes sense so basically the conclusion is that uh we have already that Phantom is that Zerion is that uh and then for this

50:13 brain explosion kind of thing you have GMGN you can you can go there maybe X will become the super app that was Elon's plan all along just like we chat in China says Guzman yeah probably probably I mean social blending social with finance is very I think it's very smart very Get your fs out of fiat and onchain. Then off and on ramps are irrelevant. Yeah, I mean until you need to pay for something until you until your rent is due.

50:54 Until uh yeah, I mean until you have to do something with your funds. Okay, maybe you can connect a card, but that's kind of an offer. Even if you connect your card to your wallet, which some services provide, it's still a still still a still a offer. It's still a sort of offerup. Yo, architect asking fair point. What's better question is what's the best UX for a D5 super that will capture the biggest market?

51:27 Yeah. uh estimating meme market versus yeah it's hard to say. I don't know what the biggest market is. Is it the meme market like the trade dig trading market? You can definitely monetize more in the trading market. I don't know what your goal is. I mean if you want to make some app to to make money you I think you should do uh meme stuff because otherwise if you are to monetize uh you need you need to look at where you can get the income if you're interested as a developer.

51:56 If you are to do an app where people earn yield they're not going to give you yield. I mean they won't yield themselves. If I use an app and it says it's gonna take some money from me just because I use them to use other and also it's highly regulated also even when you have an app and it's just an interface for DeFi is it's already highly regulated and going to be more highly regulated with you know how you charge fee how you do stuff are you a broker dealer yada yada worldwide man it's it's becoming more and more

52:29 complex this kind of stuff and also the user is earning a few percent. So obviously they don't want you to take their money. They're going to pick when you just have yield stuff like DeFi for yield, you want the lowest fee possible because it's more, you know, sophisticated users. They want they see the fee, they're like, what is this? So I think that's tougher.

52:51 Uh probably possible if you if you have like billions in in that people have deposited. But yeah, AUM game is is very tough. It's very tough because people want low fees, so it's hard to monetize. Memes, you can't forget like how how big the market is going to be. Probably going to be big, but there monetization happens very fast. Monetization in meme stuff, people don't really care how much fee it is.

53:17 If it's going to 100x, it's going to 100x. You understand? Also regulation there is less because it seems that it's clear that um if you just have some smart contract and you do some swapping for now at least it seems to be quite okay. Whenever there is some kind of yield that's where I mean in my unprofessional gut feeling experience whenever there is like yield and you market yield that's where you know it becomes more uh dangerous from a regulation standpoint whenever there is yield but if you just trade memes and

53:57 you have an app for trading memes I mean it seems that the current consensus is But uh it's okay. Like all of these wallets, they're okay. Phantom wallet is okay. Uh so yeah, I mean it really depends. You need to be upfront with what you want. Like you you you talk to me in ways like be upfront. You want to make money or what what the hell you want?

54:17 Biggest market. Why you care about what is the biggest market? Care about where's the most money? You know, for you as a developer, as investor, what you want? Because Pump Fan is the most profitable app in the in in crypto. Probably one of the most fastest growing companies in the world. The same thing with FOMO by the way they worry about monetization more than you know how big the market you have to you see yeah you need to remove [ __ ] from your brain that's very important like when you ask a question you should

54:46 be very direct what you want hey Ivan I want to become rich by building some some crap in crypto how to do it okay then we can discuss here the way you ask which super app is going to get the most market sh why why why worry about that Well, why why are you so worried about which super app is gonna have focus instead closest to the revenue? What's the closest?

55:11 Okay, that that's a better question. That's a better question. you're not going to invest in the, you know, what's going to happen is that TRDFI is going to take care of this yield stuff because yield is going to be super regulated and all of this crap here. It's quite far away from tell this. I don't think they want to touch this. And if it's far away from Chadf, it's just less likely to get regulated because Traya pushes regulation.

55:43 They push regulation. So yeah, if someone were to build the Bloomberg for crypto, someone you mean you say I I if I were to build crypto uh Bloomberg for crypto, wouldn't that be worth a lot? So have you used Bloomberg terminal? Do you have it? Do do you know what it is? Because most people that that's when someone pitches, okay, let me tell you a secret.

56:13 When someone pitches, hey, we're going to do Bloomberg terminal for crypto. I can tell you they have never used Bloomberg Terminal. I can tell you it's like a noob wannabe startup founder. H how do you use Bloomberg Terminal? Do you know what it is? Because it's a And by the way, in my entrepreneur journey, I've said the same thing. I'm also guilty of this.

56:35 I'm like, "Yeah, let's let's do Bloomberg Terminal." Have you used Bloomberg terminal? Do do you know what Bloomberg terminal is? No. Okay. So, uh Bloomberg terminal it's it's uh it's for institutions. It's not for retail. Have you seen any retail use Bloomberg terminal? No. Okay. Why? Why they don't use it? Okay. It's expensive, etc., etc. So, if you know what institutions need, then you can build Bloomberg terminal for crypto.

57:05 If you know what institution because Bloomberg terminal is institutions it's not retail retail uses like trading view retail uses dex screener the GMGN. So if you know let's say you work at an institution then your question makes sense then maybe you you understand it. If you don't work at an institution on like a at a fund or at a bank or anywhere else where there is Bloomberg terminal you don't understand what it is.

57:33 uh you because you you as a retail you you have heard that Bloomberg terminal is a big thing but you have not paid attention to the fact that no retail uses Bloomberg terminal why you don't even know product requirements for Bloomberg terminal do you know product requirement how data feed needs to be what features they need or you think it's just a chart with some info there is a ret I mean there is a you retail need for something that that is a chart with info kind of like trading view there there is a need for that

58:10 yeah so trading view is more bloomberg terminal for retail so if you are doing for uh retail then it is more like um more like trading view and deck screener GMGN they already kind of filled that gap for for the you serious retail. Uh so yeah, anyway, there's definitely more room for you know data UI. There is more room for data UI. Yeah. Yeah. There there's more doom for room for data UI.

58:48 The problem is maybe that it's I mean number one in one way it is lowest barrier to entry because when people think about crypto startup they think about let's do data. They think about yeah let's do Bloomberg terminal. I I I mean the reason why I'm joking about it is because I I've heard it many times. They're like, "Yeah, let's do Bloomberg terminal."

59:10 So, is there more room for it? There is. Yeah, I mean there is more more room for it. It's it's not cheap to to do it. Like the data to run this, it's um you need you need quite some infra engineering team to run it. Uh because it's real-time data. It is a lot of data in real time. Like if you look at the throughput in Solana and then you to have it crosschain, it's a lot of throughput.

59:32 A lot of throughput. Uh but yeah, listen, if you have some uh ideas, I don't want to like be negative on your idea. You should you should you should build something. I mean, now with VIP code, build something, see if someone cares. Don't don't worry too much. Like you know, you ask so long here. How how much time I've been answering your question? 10.

59:49 You could you could have already built it. Build it. See if someone cares. And go from there. Go from there. Uh I don't want to build myself. Why you build a prototype now with uh AI? See see if it's like interesting. You can build a prototype. You you probably will have to build a prototype. If you want to raise money without building a prototype, it's all why you want to raise build a prototype.

01:00:13 What you want? Show it. Show it. Would be better by the way if you had a prototype. Now with AI, you can do it in like a day. Prototype that is clickable. Make it clickable. I'll make it because also you need to you need to flesh out what the hell you even mean. Do you want landing? Do you want trading? What do you mean? Uh because just you know showing onchain data, there's a million ways to do it and you need an audience.

01:00:40 If you do something that's not needed for the Gian guys, it's not needed for the boomer guys, you just do something in between and no one needs it. So you need to also find like the sweet spot audience for that who is exactly exactly the user and uh yeah anyway so that's that guys thank you very much for being here we're shutting down all of the vibe coders idea uh but uh you see I mean my point is not to shut it down really just that uh when I see clear you know I mean in this case it was because you said Bloomberg

01:01:12 terminal I I just it it it got my like warning light about the clueless dude the wanting to do crypto startup. But yeah, hope you appreciate that. Thank you very much. Do do the prototype. Have a good day and be sure to dab for time stamping us. Have a good day and goodbye guys. Goodbye. Goodbye.