Episode 1: The Coinbase Listing
In this first official episode, me and my co-host Mr. Goose, talk about the recent Coinbase listing on the NASDAQ. We go back to our first experiences of Coinbase, how it compares to other major exchanges like Binance, and what we think the NASDAQ listing means for the larger cryptocurrency landscape.
Automatically transcribed with AI. Typos and inconsistencies will occur.
Calvin: [00:00:00] What's up. What's up everybody. This is Calvin, your host of The Crypto Drip podcast. I'm joined again today with Mr. Goose. My cohost. We're going to talk all about Coinbase finance, the general crypto landscape and what the Coinbase listing means. Moving forward to the crypto drip.com. Slash join and become a free member to gain access to our discord channel.
[00:00:31] You can also subscribe for $10 a month to get weekly articles from Mr. Goose on the general crypto landscape, you can also get access to premium channels in the discord, including trading signals from both myself and Mr. Goose. Without further ado, let's jump into the episode.
[00:00:55] Okay, well, welcome everybody to this is episode one of the crypto drip. I'm joined here with Mr. Goose, Mr. Goose, say hello.
[00:01:03] Mr. Goose: [00:01:03] Hello? Hello everybody.
[00:01:07] Calvin: [00:01:07] Are you tired, Mr. Goose?
[00:01:09] Mr. Goose: [00:01:09] Um, I'm actually drinking my second coffees, so, uh, we're getting right back up there, but today's been a pretty eventful day with, uh, with the Coinbase listing and how that's transpired.
[00:01:18] So I'm excited to get into it.
[00:01:20] Calvin: [00:01:20] For sure. I think, uh, Coinbase listed probably we're on the third hour, so about two and a half hours ago. Um, it's when it started trading. Um, but Coinbase Coinbase is, uh, is a pretty big deal. Um, it's it got listed on the NASDAQ exchange, um, and they kind of went a different route than traditional stocks.
[00:01:45] Usually I do an IPO, a Coinbase did a DPO.
[00:01:50] Mr. Goose: [00:01:50] Um, which is actually, you know, it's so funny. It's like, um, I was watching a data dash this morning, uh, as I was drinking my first cup of coffee and you know, it even, he's still calling it an IPO and, and everyone on Twitter are still calling IPO, but it's, it's a, it's a nuance difference.
[00:02:09] Um, so an IPO is an initial public offering, um, which is pretty much the traditional route. That's, uh, Been a foundation for the stock market for awhile. Direct listings are a little new, um, but it's like, uh, if be considered a DPO, which is direct listing placement, uh, but they will call it a DPO or a direct, um, uh, public offering.
[00:02:35] But the difference is that the DPO, um, does not have an underwriter, uh, to establish the price of the share. Once it goes. Live now the way that they establish it is, um, the first 10 minutes of it going live on NASDAQ. There are initial investors who are allowed to place bids, um, on the share price and because the DPO does not prohibit shareholders, um, in a lock period where they can't sell their shares.
[00:03:12] For instance, um, employees from Coinbase. Um, can now share their sale or can now sell their shares immediately once they go interesting public. Right. So for the first 10 minutes, I forget what it's called. I think it's called like a, um, display window or something, but for 10 minutes, there's an initial period where early investors can place bids and shareholders can, uh, place offers.
[00:03:39] And then NASDAQ, I assume, would have AI or. Um, something to coordinate what the prices should be once that window's up. And then there you go. The initial price for that's where it starts.
[00:03:55] Calvin: [00:03:55] Exactly. Right. And it started at, uh, three 81,
[00:03:59] Mr. Goose: [00:03:59] right around three 81, three 81 D, which is actually, it's so weird because I think one of the, uh, there was an article out there that kind of made it mainstream.
[00:04:07] Uh, I forget who published it, but it was. That the initial price would have been two 50 per share, which would have been $46 billion, you know, valuation. But in terms of valuations, there were evaluations that were saying a hundred billion and which is exactly where we showed up, which was like 99.1 billion or something.
[00:04:27] So, I mean, it's a little crazy, but you know, it's funny as you go on a FTX, which is a. Um, cryptocurrency exchange. Um, they were trading, uh, futures contracts, um, for a few months now. So I think it's December, um, for the share or it's a synthetic, you know, um, coin or a stock tokenization coin. Yep. Uh, for, yeah, for Coinbase.
[00:04:55] And it was trading at like five 70 or something. So.
[00:05:00] Calvin: [00:05:00] That doesn't surprise me one bit.
[00:05:02] Mr. Goose: [00:05:02] Yeah. So it's pretty crazy how evaluations can go and how they're affected. So,
[00:05:08] Calvin: [00:05:08] yeah, it's really interesting. I think it's a little bit different with, um, the stock market, but I remember, you know, the first day that. ADA got listed on Coinbase, uh, the Cardano token.
[00:05:19] Um, and I was just shocked at how, how much different, um, the prices were across exchanges. And it was fascinating to watch like the different exchanges kind of balance each other out over the first couple hours. Um, and I dunno, you know, I don't think the, I mean, correct me if I'm wrong, I probably am wrong, but the stock exchange probably doesn't necessarily.
[00:05:42] Have that same issue. Um, but there is a little bit of similarity there with the synthetic token trading at a wildly different range than the NASDAQ.
[00:05:51] Mr. Goose: [00:05:51] Right? Definitely. And I mean, the, the cool, um, linkage there is too it's like those synthetic tokens or anus tokenized stocks actually provides liquidity for the, for the real stock market, which is kind of cool.
[00:06:05] Uh, but I think that's going to be a big, that's going to be a big thing. You know, now that Binance has Tesla and, uh, I think they also just listed coin or Coinbase. Um, which I think that, I think that's going to be huge. Like now you're transplanting, you know, availability, uh, from the stock market onto, into defy, you know, that's yeah.
[00:06:27] We're kind of reversing the order there and it's, it's going to be, I think it's going to be huge.
[00:06:32] Calvin: [00:06:32] Yeah. I mean, that is huge. Even just for me, like I don't, I don't touch traditional stocks at all, but if I can get exposure to those stocks without leaving. Exactly, exactly. It's so much easier for me as a buyer.
[00:06:45] Mr. Goose: [00:06:45] It's going to be, can we actually be super interesting how China reacts to Binance doing so? Cause I think there was a big, you know, I forget what exchange did it, but there was an exchange previously that, um, dabbled in synthetic, uh, Synthetic tokenization for the United States stock market. And they got hit hard, um, by China, by China.
[00:07:07] Oh yeah. So I don't know how it's going to, how Binance is gonna go with, uh, with these Tesla and Coinbase share. So we'll see, we'll see how that all plays out. So, yeah,
[00:07:17] Calvin: [00:07:17] I mean, that's kind of an interesting topic. Let's, let's switch a little bit to, um, the comparison of Coinbase and Binance. Cause I think it's pretty obvious.
[00:07:27] Those are the two major, major, uh, crypto exchanges out there. Um, and for me personally, um, I'll just kinda actually let's, let's go back and talk a little bit about our first exposure of Coinbase. So, um, cause I remember, I remember signing up for Coinbase when it was a startup, when it first, it literally first started and all they had was Bitcoin, Ethereum and Lightcoin.
[00:07:54] Mr. Goose: [00:07:54] Right.
[00:07:54] Calvin: [00:07:54] That was their only three tokens. And I didn't even understand crypto at the time, but I thought it was kind of cool. And I remember creating an account and I just thought it was super amazing that. All of a sudden, because up before that point, my exposure to crypto was like, it's this weird thing.
[00:08:13] And you have to download a node onto your computer and you have to mine it in order to right. Right. And, um, yeah. I just remember creating an account and kind of being kind of tickled a little bit of like, Oh man, I could just. Buy this coin with my dollar and all of a sudden that gateway made sense.
[00:08:31] Right. But of course I didn't buy anything because I had no money at the time. Um, but it was, yeah, it was, uh, I remember thinking it was just like the most friendly, uh, the first friendly option to crypto.
[00:08:46] Mr. Goose: [00:08:46] Yeah, definitely. I remember my first purchase. The experience was. A little frustrating. It was literally during the massive run-up of like two or three weeks from when Bitcoin was like 9,000 to $20,000.
[00:09:01] And I think I bought in at like $14,000 and it took like, I don't even know how long it took multiple days for my transaction to settle because I just don't think node operators at that time were ready for the, the amount of network congestion that happened. And. That was when dude Coinbase was down, like an obviously, you know, coined by still suffers from maintenance and going down all the time and that's kind of their Mo but back then, our, our, in that last run-up dude, it was like every other day, I've got like four or five emails daily about how they had maintenance use, but, you know, they made it.
[00:09:37] And I think initially, I mean, I do think initially from the very beginning, the founders exit strategy, exit strategy was, was, uh, to go public. Um, but it's, I mean, it's a rags to riches story, so he, you know, he got to give credit where credit's due. Um, those guys started, I forget what the story was, but they started similar to like, you know, Microsoft and Apple and like right out of a garage.
[00:10:00] So, you know, congrats to them and we'll see, we'll see how Binance does
[00:10:05] Calvin: [00:10:05] I think so I think it's really interesting cause I think there's. There's it's almost like this war between Coinbase and the Binance, uh, group of people because. I, well, I've never used Binance. I think I tried using Binance at one point.
[00:10:23] And then literally for months could not log into my account. It would just tell me that there was some error and it wouldn't give me any information. Yeah. And it was super frustrating, but then I found out, um, it's actually, you can't even use Binance in Idaho where I live, because I don't know we live in the stone age or something, but, um, it was.
[00:10:43] So my exposure to Binance has been next to none. And I have bought all of my crypto until recently through Coinbase. And I never had like any negative feelings about Coinbase. I mean, I think there was some frustrations with their scaling issues, like you said, but I mean, even then it was pretty limited and I was, I just always felt like it was such a great user experience to buy crypto from there.
[00:11:12] Mr. Goose: [00:11:12] Right. Yeah. I mean, I, I primarily use, uh, Binance, U S in fact, it's sort of my, uh, STEM and where I deposit my money directly. And then I STEM out to other exchanges when I want to purchase, um, and trade other smaller coins. But Binance, U S has been honestly, nothing but great so far. Um, and I think I used Coinbase once for an off, uh, Oh, I think I use Coinbase once a long time ago, uh, during this bull run for something else, but for the most part finance us, I don't really have any problems.
[00:11:44] Uh, what, like, sorry,
[00:11:45] Calvin: [00:11:45] go ahead. Uh, just kind of a question, like what made you lean because both of those options were probably there. So what made you choose Binance over Coinbase?
[00:11:55] Mr. Goose: [00:11:55] Um, at the time it was, it had listed a Cardano and that was like, like in, from our inner introduction. That was my first, um, yeah.
[00:12:08] Dipping my toe in the water. And then my second was V chain actually, which you Binance U S also listed. And to be honest, uh, where VHN presses that I've actually made more money with my entry into chain than I have Cartano, but I like canonical way better. Yeah.
[00:12:22] I've heard a lot about BJ and really exploded, but I always, it was interesting.
[00:12:26] I looked into TV chain awhile ago. I remember watching there. There, uh, like trailer video on her own page. And I was like, man, that's kind of cheesy. It's so cheerful, easy
[00:12:37] dude. But you know, you gotta do what you gotta do. One thing I do want to get into is, um, how Bitcoin reacted and the sentiment for crypto investors right now.
[00:12:49] Um, yeah.
[00:12:52] before I get to say
[00:12:54] Calvin: [00:12:54] well, okay, so just to give our listeners kind of a, um, Some context for this episode. So Coinbase listed on NASDAQ, it listed or started trading at about 381. It pumped up to about 423 or 429, which was encouraging, but has since then kind of plummeted to it's saying right now at about 318, 316 um, and Bitcoin reacted a little bit, but I don't know.
[00:13:25] I'm a little bit it's. It seems like it's been fairly muted. I mean, it's only down, let's see. From the time that Coinbase is listed, it's only down about 2%.
[00:13:41] Mr. Goose: [00:13:41] Yeah. So what was the exact time that they listed? Do you know, let me check.
[00:13:49] Calvin: [00:13:49] I don't know the exact time that they listed. I just know it was . Yeah, well, yeah, for the East coast, I think it was at
[00:13:56] Mr. Goose: [00:13:56] 12:30 for down down a few percent, um, enough to liquidate people.
[00:14:03] Calvin: [00:14:03] Oh, and I, I, I saw, uh, a ton of longs on Bitcoin. Got liquidated.
[00:14:10] Mr. Goose: [00:14:10] Yeah. I mean, I, I also posted in one of our signals that it would be a good time. If all things go well today to open up a long are leveraged long on ADA. If you do play around with leverage and I still think that's a good play, um, But as I said after, it did not all go well.
[00:14:26] Um, I, for 1:00 AM actually very upset and annoyed had the crypto sentiment right now about how Bitcoin reacted like, uh, and, and I, I can't even tell if they're joking or not, but so many of the crypto influencers are screaming top and screaming, you know, bear market, you know, initiated. And I'm like, and it seems like they're, they're being, um, It seems like they're, they're being real like that.
[00:14:54] That's what they actually think. And it's, it's blowing. It blows me away that, you know, the mantra for crypto is buy the hype, sell the news and even on the, even on the, yeah, and I mean, it happens every single time without fail and. On the biggest on the, on the one-time retail investors in crypto can dump on retail investors and traditional finance.
[00:15:19] Did you really think that that wasn't not going to happen? Are you kidding me? Yeah, they're going to do it. So, you know,
[00:15:27] Calvin: [00:15:27] I don't understand what that's like.
[00:15:29] Mr. Goose: [00:15:29] Yeah.
[00:15:31] Calvin: [00:15:31] I mean, that's a really good point because I think, I think I had this thought, um, right after Alyssa and it kind of started. Going downward that, I mean, if you think crypto really is like, ah, I don't really want to call it a weapon, but like the tool against traditional finance for like most people, um, it's like the ability to kind of fight back, um, Or get access to a lot of tools that have, you know, for a long time just been, no, sorry, you're not wealthy enough.
[00:16:07] You don't get to play that game. Right. Um, and you know, it's hard to imagine that when, when crypto is exploding in the space and even Coinbase the flagship of, uh, of crypto in general, actually entering into the traditional finance space, um, as a serious player that there's going to be some really pissed off people.
[00:16:31] Yeah. Um, who feels super threatened by that? And I think there's a ton of. Market manipulation happening right now that most people aren't aware of
[00:16:39] Mr. Goose: [00:16:39] 100%. I mean, people scream and shout for the introduction of institutional money into, uh, into Bitcoin. Um, like it's the saving grace, but in terms of short, uh, short term volatility, institutional players will steal lunch money from you like a baby, you know, like, especially if you're on a, in and out.
[00:17:00] Yeah. And initiated trader, like now that the institutional players are here, they're going to instill the exact same tactics that they do in the traditional stock market with zero regulatory, um, oversight. So, you know, like, I mean, on one hand, it, you know, it's on one hand, it's a good thing that institutional money is here.
[00:17:18] On the other hand, um, they're going to manipulate the hell out of this market and, you know, it's up to you to, to figure out a strategy to profit from it. So. Yeah. And they're going to,
[00:17:27] Calvin: [00:17:27] you know, they're going to blame the retail, um, traders for, you know, any sort of crash that might happen because, I mean, I mean, they're already blaming retail traders before.
[00:17:40] I mean, there's so many videos out there of these like really big, important hedge fund managers who just are just trashed it on people who found a Bitcoin. Like they had no like intellectual backing for that choice. Right. Um, So they're already angry, you know? Right. And yeah, I dunno. It's kind of like, it's really interesting.
[00:18:02] I think the problem with Bitcoin is that there's, there's no utility with the token. And so there's no like there's no like economic drive outside of the store of value narrative to keep it going against the, you know, the tide of, um, You know, legacy finance or whatever that might be trying to put pressure on it.
[00:18:27] Whereas like, you know, a crypto like Cardona or, or even ergo or, I mean, let's even take a theory. I'm like, at least it has some, uh, some functional use outside of it's just an asset. Exactly. Yeah,
[00:18:46] Mr. Goose: [00:18:46] go ahead.
[00:18:47] Calvin: [00:18:47] I was just, I was just going to say, I was just looking at the chart. I mean, it's, their income is up 2% today.
[00:18:52] And Bitcoin's down 2%. So it's anyway, go ahead.
[00:18:56] Mr. Goose: [00:18:56] Well, this, this is where the narrative is going to start coming more into play and, um, becoming a topic of conversation, um, you know, mainstream and it's that. When Ethereum or Binance or Cardona, it starts eating away at Bitcoin's market cap, not in terms of siphoning in a way, um, more in terms of surpassing it.
[00:19:21] Um, then it becomes the separation of cryptocurrency from Bitcoin. And whether people think that's a valid story or not, it's going to happen one day, just like, um, Just like gold is separated from, from equities, uh, in traditional investing, you know, the, the curtain is going to be unveiled. Uh, that Bitcoin is a less useful, um, and will honestly be under utilized, um, because there's going to be other, uh, cryptocurrency projects out there that are just fundamentally better.
[00:19:58] Um, like for instance, like for instance, Cartano, um, And, and we're going to see that shift within the next, you know, five to 10 years. It's the, it's the same argument like, um, you know, I got, I didn't get into an argument, but it was, it was a point I made that you could look at, um, You could look at gold and, um, any, any sort of, um, industry market cap, like for instance, climate change, um, and carbon renewal, like over time, the market cap for that, um, market is going to surpass Gold's market cap.
[00:20:33] Just like, you know, the market cap for Ethereum are Cardona is going to surpass, uh, Bitcoin, you know, like yeah. They have their purposes, but at some point the separation between Bitcoin and cryptocurrency has got to happen. So this conversation, I'm glad, I'm glad it's starting now. Like it's starting to be, you know, there's, there's whispers and echoes and it's starting, it's going to start being a mainstream conversation.
[00:20:55] So I'm excited for that to happen.
[00:20:58] Calvin: [00:20:58] Yeah, I definitely agree. I mean, I think it's even interesting that narrative, that Bitcoin is like the crypto gold is not like entirely accurate, you know, this whole idea of it being a store of value. Um, it's not actually like synonymous with gold because if you look at gold, it has tons of utility outside of being a store of value.
[00:21:19] Like we use it in computers, in jewelry, in, um, You know, all sorts of stuff that actually like there's an actual industrial utility for gold outside of it's just store of value narrative
[00:21:33] Mr. Goose: [00:21:33] doesn't have any of that. I think I disagree on a little bit, uh, for that, like, I mean, yes, there's a, um, some sort of utility for gold, uh, uh, jewelry is I would say is, uh, more of a store value than it would be a utility, um, or even some sort of social currency.
[00:21:52] Um, In terms of terms of like using it and stuff, uh, in terms of like a computer hardware, like there's other more conductive metals out there then go, um, I don't, I don't necessarily agree that there's a ton of utility. I think, I think honestly like, yes, I agree. I agree here that that golden Bitcoin are not as useful.
[00:22:15] Um, I'm sorry, just Bitcoin. Bitcoin is not as useful as other cryptocurrencies, but it is possible to send. Bitcoin, which is a value, which has a value attached to it, um, globally, uh, with, uh, with, in a trustless manner, you know, it's peer to peer like that that's, that's it's utility. Whether it's going to be adopted in mainstream.
[00:22:37] I don't know. It depends on, you know, how, how things like stacks or, uh, Thor chain or, uh, the lightening network. These layer two implementations on how well it's received, but because that will increase its utility and therefore, you know, uh, kind of mitigate these risks that are posed to it by 3m and Cordato and Binance and other chains that might, you know, overtake its, its market cap.
[00:23:05] And maybe even it's, you know, hold on the cryptocurrency narrative. So we'll see. Yeah.
[00:23:12] Calvin: [00:23:12] So let's go back to. Coinbase. What do you think? Um, what do you think the next six months hold for the, for the, the actual, um, the actual listing
[00:23:31] Mr. Goose: [00:23:31] Coinbase is. And I said this in our market outlook, or at least I hinted to it. Coinbase is going to provide a psychological bridge between traditional finance and cryptocurrency or decentralized finance. Um, And that's going to play both a positive and a negative role. Negative is there's going to be more of a correlation between cryptocurrency volatility and traditional market volatility through that bridge of Coinbase.
[00:24:08] Um, so being that cryptocurrency is still nascent, um, at $2 trillion market cap, it's still on there valued, um, The volatility is going to play against Coinbase as favor and even, um, they even recognize that and, and came out with a, uh, with a statement that, you know, we've we asked, we did really well this past, you know, the past did more volume, um, then our entire 20, 20 year, but that's not going to last, you know, like they're still.
[00:24:48] I would say subservient to the four year bits are Bitcoin, uh, cycle, you know, so, so their performance is going to follow that, that cycle until that cycle ends, whether it be, whether it be this cycle that we, that we completely demolished this four year, um, Four year trend that we've got going on or it's the next, the next four year trend?
[00:25:10] Um, I think that's when volatility for Coinbase will slow down, but I think they're highly, they're highly tied to how the cryptocurrency market, um, performs. So we'll see, I think by the end of, I think 20, 22 is not going to be a great year for phase. Let's just, let's just keep that at that.
[00:25:28] Calvin: [00:25:28] What about for like crypto as well?
[00:25:30] You think
[00:25:30] Mr. Goose: [00:25:30] probably too. It depends, you know, this is why I'm upset with the sentiment. Like. You you're talking to about it doesn't matter. What if you're a monetary theorists or if you subscribe to Canadian, uh, monetary theory, like we have debased the, the global reserve currency more than we've it's, it's historical more than anything we've ever seen.
[00:25:57] In fact, even our, um, current. Fiscal policy environment is also like nothing we've seen before. Okay. Yes. We printed a ton of money in 2008. Um, but at the time spending was, was, or at least the transfer from was, um, uh, was utilized more often right now we're seeing a ton of, uh, a ton of people are a ton of the people who are EVD.
[00:26:28] Most of the, uh, the stimulus, uh, whether it be corporations, institutions, family funds, whatever, um, saving or putting it into assets. So we're not seeing that transfer, um, to, to M one, like we did in 2008. So now we've got, uh, we've got jobs exploding. Um, even though we thought the job reports were going to come back awful.
[00:26:48] We've got, you know, equities exploding. We've got a super fund and Gold's down 12% year to date, but we've got cryptocurrency exploding, um, all while inflation hasn't really set in. So right. We are literally in unprecedented times where we have printed more money than. We've almost ever printed ever. So the sentiment is not dead.
[00:27:12] We, this is the strongest the Bitcoin narrative has ever been. I do not think this is the top. I think we go up from here and I do not know if the four year bull cycle lasts after this. I think this year could be the year that we see the end of the four year cycle and we continue to be less volatile and less volatile from here.
[00:27:32] That's what I see.
[00:27:34] Calvin: [00:27:34] Yeah. Yeah. I kind of, I kind of lean in that direction too. I mean, the, the, the DXY pretty much has just had this steady decline. It kind of had like a, a brief bounce back. Um, I don't know if it was a month ago or a few weeks ago, but they kind of bounced back, but I, I find this interesting correlation.
[00:27:55] Like the dollar value goes down every time there's a pump in crypto. And if the dollar, if the dollar rallies, crypto, just like, you know, bleeds all over and right. It's definitely like an obvious correlation to, um, the inflation that's happened in the last year. So it's, it's really weird. And like, you know, you make her super good point of like, we haven't really felt the effects of inflation.
[00:28:24] And I shared, um, an article on Twitter. Um, a couple of days ago, um, from CNN where, um, March I think had the highest uptick in consumer prices. Um, and so there was like a little there we're actually starting to feel the effects of inflation. Right.
[00:28:44] Mr. Goose: [00:28:44] And it, and it's going to scare. Yeah. It's going to go up from here.
[00:28:47] I mean, it's, it's the incentive, like, you know, if this, even, even this, the next bill that might pass from, from Biden, this infrastructure bill, the incentive is to, you know, Uh, make it all back within the next 15 years by levying taxes and that's going to happen. Uh, that's going to be, um, easier to do once consumer prices go up.
[00:29:08] Right. Cause if consumer prices go up taxes go up. So it's going to be easier to pay off, uh, things like this, which is sort of the incentive, but what you're not seeing and is what I think they're hoping for is incentives for people to get out of savings and to start spending money, you know, because once money starts, once money is printed, uh, it's the whole velocity of money concept.
[00:29:28] Once money is printed, it's it's one-to-one, as it starts to move, it becomes more valuable. Um, by I think it was like, I think the average is like four to five fold. Um, but that's when you're going to start seeing an uptake in consumer prices, that's when you're gonna see Tufts, uh, taxes start to increase.
[00:29:44] Um, and when that happens, I don't know, which is why I'm saying we're in unprecedented times where people are, are sitting on a stockpile of cash and it needs to start moving around for any of these, you know, um, any of the policies or any of the, uh, bills and relief that we've come out with to start working the way that it was meant to work.
[00:30:03] So, yeah. Well, we'll start to see it all play out. I really do. Um, I think we're going to start to see that over the summer and towards the end of the year, which is why, which is honestly it plays, it plays almost perfectly into my theory that this is almost exactly like the 2013 run. We're going to see a massive run.
[00:30:24] Um, uh, we're going to see a little mini blow off top here, uh, within the next month or two. We're going to settle down big time over the summer. And then as that, as consumer prices start to rise and we start to get glimpses of this inflation, the Bitcoin narrative comes right back and we rally like crazy towards the end of the year, just like we did in 2013.
[00:30:45] So that's that's I mean, it, it seems to be playing out almost perfectly. So. We'll see how that's the
[00:30:52] Calvin: [00:30:52] goose? That's the goose prediction, everyone. Hi. Yeah, that's right. It's interesting. Because a lot of, uh, altcoin influencers, like I follow on Twitter, most of them are like, Oh, we're gearing up for all coins summer.
[00:31:06] You know? I mean, it's, it's a little bit different. Um, yeah. Yeah.
[00:31:10] Mr. Goose: [00:31:10] I, I
[00:31:11] Calvin: [00:31:11] think this is probably the, at least for me, this is the biggest, um, I feel like there's a pretty big fracture in the crypto space of like wildly different opinions, right. About the feature. And, but they're not like, you know, it's not like everybody thinks we're just going to keep going, keep going family.
[00:31:33] A few people think we're at the top. Like it's pretty. It's pretty right down the middle as far as, at least for the people I follow. But
[00:31:41] Mr. Goose: [00:31:41] yeah, I mean, well, the reality is nobody knows. Nobody knows. I think the best thing, the best thing that you can do is when it's something as disruptive as this, uh, whether it be Bitcoin, whether it be cryptocurrency as a whole or even decentralized finance, it is.
[00:31:59] Imperative to take a step back or even a few step back, a few steps back, and to look at things in a macro picture, you know, it's, it's easy to call tops when you're staring at a 15 minute chart. Um, but when you take, take steps back and you start to realize the mission that Bitcoin is on. And how much traction that it's already produced.
[00:32:21] Like it's, it's gotten to the point where, you know, too big to fail, regardless of, you know, we see another, if we see an 80% pullback by the end of this bull run, it's gotten too big to fail and where this ends up is anybody's guess. Um, and I'm just excited to be along for the ride. This is like, um, I mean, it's not, it's not even like the internet, you know, like this is much bigger.
[00:32:47] You know, this will be, this will be, this will be the catalyst for the equivalent of the separation of state and church. This will be the catalyst for the separation of state and money and we're along for the ride. And I just I'm, I'm excited to be here. So, um, I, I just don't think that we are anywhere near the top four.
[00:33:06] This cycle or Bitcoin in general. So that's my take
[00:33:11] Calvin: [00:33:11] time will tell, um, I mean, I kind of lean on the same, you know, I don't like. I have a lot to add on that. Other than like, it really, the whole, the whole concept of inflation, I think is hard for the average person to wrap their head around. Um, because you know, we're like, Oh, it's just more expensive, but it really hits home for me when you realized, yeah, everything's more expensive, but your salary literally stayed the same salary.
[00:33:37] Didn't change at all. And like, that's where it's, it's like, Oh shoot, I'm literally getting paid less. Yeah, we did
[00:33:45] Mr. Goose: [00:33:45] last year. And it's the same for your savings account, you know, same for your savings.
[00:33:49] Calvin: [00:33:49] Yeah, exactly. So
[00:33:52] Mr. Goose: [00:33:52] we'll see how I mean. Yeah. And that's, you know, that's going to be another, uh, narrative and that's it.
[00:33:57] Cryptocurrency is run on narratives and that's going to be another narrative is the hashtag pay me in Bitcoin narrative. You know, we've already seen it with, you know, large sports personalities with Russell Russell and the Ravens. We're seeing it with the. Oh, shoot. What was it? The NBA, uh, somebody, some NBA team is now allowing their players to accept Bitcoin salary.
[00:34:19] There's going to be others. I don't know it wasn't the Mavericks. No, I think the Mavericks was Cuban using doge coin. Um, maybe payments. Yeah. Yeah. I like Mark Cuban, Mark Cuban school.
[00:34:33] Calvin: [00:34:33] Um, I like that. He's he just doesn't care.
[00:34:36] Mr. Goose: [00:34:36] Yeah, but it's Def he's definitely one of the guys. That we got to see as capitulation in full force from, uh, you know, cryptocurrency being, you know, dog poop, uh, to where he is now on the guy's taken, you know, massive steps into learning the entire cryptocurrency market.
[00:34:53] I just watched, um, I just watched a podcast where he was on and, and you know, this guy, he took some time to understand. I mean, he's still, he's still relatively. I'm new to the space, but, but he's starting to understand the implications of define and how it will literally, you know, displace almost every major financial institution in the world.
[00:35:19] Calvin: [00:35:19] Yeah. I mean, it's hard to, it's hard to deny that it's, it's so disruptive.
[00:35:25] Mr. Goose: [00:35:25] I mean, Oh yeah. And I mean, this goes back to our introduction episode where I talked about the state of define how I think yeah. Reno right now. We're just seeing a lot of, a lot of the same, you know, um, a lot of the same things that we see in traditional finance, like, uh, like the IPO's and the, and the pre-sales.
[00:35:46] I mean, you know, Coinbase, uh, obviously had pre-sales, uh, as a part of their DPO, um, which, you know, a lot of people I guess, could call shady, but, you know, that's just how, that's just how markets work. And I don't know. I mean, as long as it's done in a fair fashion, I don't think it's necessarily shady. I mean, that's how DPLs work and they're relatively new, so yeah.
[00:36:11] Calvin: [00:36:11] Yeah. Yeah. It'll be interesting. I think the Coinbase, um, it's probably as close to. I don't know if I okay. I'm about like maybe 60%, maybe 70% sure on this statement. So don't quote me, but it's almost like a,
[00:36:29] Mr. Goose: [00:36:29] I'm already opening up Twitter.
[00:36:31] Calvin: [00:36:31] Yep. All right. But it's almost like, at least for now, unless until more, uh, crypto centric exchanges get listed publicly, it's almost like a, if you want to invest in the crypto industry or the crypto, um, Space as a whole, it's almost like an ETF or something where it's like, you know, if the whole crypto market does well, you can almost bet Coinbase is going to do well.
[00:36:58] Yeah. There versus the opposite, which is kind
[00:37:02] Mr. Goose: [00:37:02] of interesting to me. Yeah. That's, that's where the dichotomy is going to be crazy is when you know, is when traditional finance markets do bad and Coinbase does bad with it. Does crypto end up doing bad and vice versa, you know, so it's going to be interesting to tell, um, one thing that I think, and, and it even goes exactly to what talking about that I think was super cool.
[00:37:29] Was the founders of, um, Of Coinbase requested that the block in which they go public be encoded with metadata. And the metadata was like, um, was the headline that Biden, um, or the house passed on it's $1.9 trillion relief bill. I was like, that's
[00:37:51] Calvin: [00:37:51] hilarious. That's actually brilliant.
[00:37:54] Mr. Goose: [00:37:54] Yeah. That's so funny. I mean, I mean, that's what I'm saying.
[00:37:57] It goes exactly to what we were saying. Like the amount of debasement we're doing to our, to our. Currents to the globe to the global currency, like is, is ridiculous. So, and I don't even think, I don't even think we're anywhere near, um, the top third for traditional markets either. I think they're going to keep pumping for, well, I don't know for awhile.
[00:38:21] Calvin: [00:38:21] So there, um, I remember seeing something on Twitter, um, but basically that whole chart of, you know, if you take. The stock market performance and you adjust it with inflation in mind. Most of these companies are insolvent.
[00:38:36] Mr. Goose: [00:38:36] Yeah. That was super interesting. Super interesting. Which,
[00:38:40] Calvin: [00:38:40] you know, it's like, is crypto even doing good or is the dollar just literally dumping itself all over
[00:38:45] Mr. Goose: [00:38:45] the floor, but that's the point like, um, real assets are supposed to be the ones that do well in inflationary environments, not necessarily equities, you know, so.
[00:38:59] Cryptocurrency should be doing well or Bitcoin. Um, more specifically, it should be doing well in this environment. Um, but guess what? Look at, look at the world's oldest hard asset besides real estate gold is down. Like I said, 12% year today. So that like, this is, it's just so weird. Like, as you're seeing these companies being, um, I don't even want to say overvalued.
[00:39:23] I just, I don't even know what to call it cause they're not. Yeah. I mean, I inflated, I guess, as these companies are inflated as, as cryptocurrencies inflated, like how are we still seeing gold down 12%, you know? Yeah. And real, real estates blooming right now as well. So, and I, and you know, it just depends on if it does and how they Institute their, their monetary and fiscal policy.
[00:39:49] So we'll see how it goes. I mean, I think they still said that they're not going to, um, drop interest rates. Um, Are they going to continue to keep interest rates low, um, until like 2023, which is just absolutely insane.
[00:40:04] Calvin: [00:40:04] Oh, gosh, dude. When I, when I look at my traditional savings and the complete lack of interest I receive on it, it's depressing.
[00:40:14] Mr. Goose: [00:40:14] Yeah. And then you go to USD T and make, you know, five to 8%. Oh, I know
[00:40:22] Calvin: [00:40:22] it's going to be. Yeah. I think somebody actually in our discord, the life and times switch. Hello. I see you in our chat and in case anybody, uh, I'm just gonna, you know, shameless plug here. Uh, you can chat during these episodes live in our discord.
[00:40:39] If you go to the crypto drip.com/join, all right, I'm going to leave it at that.
[00:40:43] Mr. Goose: [00:40:43] Good. So if you want to add, ask questions and you know, we'll definitely talk about it.
[00:40:49] Calvin: [00:40:49] Yeah. Um, but yeah, like some people, depending on your risk tolerance, some people just throw their money straight into, you know, USBC or us T um, and earn crazy good interest on it while the rest of us, you know, literally lose value.
[00:41:05] But it's, I think for me, it's always been like, ah, like it's not insured. And so part of me is like, I just, I just have this hard time, you know, like, yeah. I think there's this trust factor, which, you know, just given time, I think it's going to that trust factor will, um, get easier and easier over time. But
[00:41:25] Mr. Goose: [00:41:25] yeah, so the life and time to actually makes a good point and he kind of echoes what I was saying about gold, not being all that useful until you actually hold it physically.
[00:41:34] Uh, I E jewelry. Um, yeah, but he does make a good point. That gold being down seems to say that. Society is confident in society, but they're bearish on nation state solvency, which is super fair. Um, and actually makes a lot of sense. Um, which again goes to our point that maybe Bitcoin is seeing the same inflation that, you know, United States, equities are saying.
[00:42:05] And we're not sort, we're not pricing in the fact that it is a real asset, because if Bitcoin is gold 2.0, then it should be run by the same narratives that gold does, except it's more hard, you know? So we should be seeing Bitcoin down 12%, but we're not. So maybe we, maybe we are still just in the inflated bull cycle, you know, who knows?
[00:42:27] That's why I'm saying nobody, nobody can literally put a finger on what we're going to do and we're fine. Um, but that was a really good point. Yeah. Yep. And
[00:42:35] Calvin: [00:42:35] I think that's, that's actually like a good way to sum up the entire space right now is because it's so disruptive. There's so many unknowns. There's so many like macro picture things
[00:42:45] Mr. Goose: [00:42:45] that are going on right now.
[00:42:46] It's so it's
[00:42:47] Calvin: [00:42:47] really, yeah. I mean, it could go, it could go a million different ways. Right. And that's why I think there's so
[00:42:53] Mr. Goose: [00:42:53] many different opinions. Yeah. Which is why, which is why let's round ourselves back into at least how I got into this space. And I believe where you ended up is. Let's look at the, the projects in this space that are going to survive and that are going to be standards.
[00:43:09] And we're talking about the people that develop in such a way that they are taking into account the mistakes of past projects, but they're also. Stress testing their development in a way that in the future, their product or the project in general will continue to thrive. And I'm talking about things like Cardinal things like, um, ergo, who, who take pride in to.
[00:43:35] How they do their development in terms of implementation. Yeah. Right. Where they're going to, they're going to go and research the project and are they going to go on research on, on things they want to implement, then they're going to take it to a, to a board that's a third party and get it peer reviewed.
[00:43:48] Then they're going to that way you have formal verification for everything that you're doing, like, okay. That's that's the way, that's the correct way to go about how we disrupt, uh, traditional finance. That's that's how you do it and let's serve, let's serve, you know, so today, um, I finished up the ergo article and let's use that as a microcosm for, uh, development.
[00:44:12] Like I, ergo has to. Develop defy, right. Has to develop applications for decentralized finance, which only just really became mainstream 12 months ago. Right? Yeah. But within those 12 months we have seen hundreds of faulty, uh, faulty implementation, or just, just, uh, ideas. That's flat out didn't work. So not only are we yeah.
[00:44:44] Not only are we creating disruptive technology or we're creating disruptive technology for that disruptive technology as we go along. So, so this process is, is, you know, is, is super hard to, to try and pinpoint where we're going to end up. But I really do think that you have to go with the people like Cardona, like ergo, like singularity net, who also has, you know, a, a founder Ben girdle who takes.
[00:45:13] Extreme pride in the form of verification process. And I think that is going to be what survives know. So that's, that's kind of how I view where we're going and how we'll be able to be successful in disrupting finance. But yeah, that's how I see it.
[00:45:32] Calvin: [00:45:32] Yeah, I agree.
[00:45:44] It's right about here. We wrapped up our episode recorded live and you're just chord [email protected] Make sure you subscribe and you could follow me at Twitter at cryptos, Calvin. And you can follow Mr. Juice on Twitter at goose of crypto. When I thank you for listening and until next time, keep on brewing.