No-hype conversations about crypto and blockchain.

Description

In this episode, Mr. Goose and I talk all about the upcoming Africa announcement from Cardano. We also dive into broader crypto market sentiment as it relates to Bitcoin, recent selling pressure, and if we're at the top or just getting started.

Transcription

This transcription was performed automatically with AI. Errors and mis-translation will occur.

Calvin: [00:00:00] Yo, yo, everybody, this is Calvin, your host of The Crypto Drip podcast. I hope you liked that intro. I'm trying things a little bit different this time. Maybe a little more fun lighthearted. I don't know. I'm just not as serious as I appear sometimes. Regardless. I'm glad you're here. In today's episode, I talk with Mr.

[00:00:19] Goose about car and Africa and all the possible outcomes across both Cartano and the broader crypto ecosystem. That further ado let's get into it. Let's do it.

[00:00:40] Welcome everybody. This is the crypto drip episode. Number two. I'm joined here with Mr. Goose. Say hello, Mr. Goose.

[00:00:47]Mr. Goose: [00:00:47] Hello.

[00:00:48]Calvin: [00:00:48] Um, we're excited about today's episode because it has everything to do with car Dano and Africa, the upcoming announcement, which is scheduled for April 29th. Um, it's going to be a pretty big deal.

[00:01:02] There's been lots and lots of talk about it for quite a while. I, it, I think originally the Africa deal was, um, Charles was saying something about it coming out in March. Was that right? Do I remember that, right? Yeah. There was definitely an announcement that it was going to be like early Q1 of 2021. I think they obviously had delays in terms of semantics and I think the actual government or, well, you know, however, the PR partnership works, they wanted to accumulate.

[00:01:32] You know, certain marketing pieces. So that way, when they have the event, they can kind of all launch it at one time. And so they delayed it a little bit and they needed to wait on signatures. I'm sure there's other, you know, regulatory hurdles, they needed to jump over, but, uh, either way we're here, it's happening, you know?

[00:01:47] So I can't wait to see what happens. Okay. I know I'm, I'm mostly excited to just tell everybody I see. I told you, so it's not a scam. Yeah, dude, like when,

[00:01:58] Mr. Goose: [00:01:58] like when, when we can, so we've been, you know, Shout it from the top of the roof or from rooftops is that Cardona is going to, you know, host one of the largest, if are the largest blockchain government partnership in cryptocurrency history.

[00:02:13] Now it's going to be reality. Now we're going to have proof. Right. So, so it's going to be a lot of validation for a historically invalidated community.

[00:02:23] Calvin: [00:02:23] Yeah. And it's just, that's all it is. Right. It's just validation. I think. Mostly like it doesn't take a lot for you to actually look into, um, the protocol and the blockchain itself to know that, Oh yeah, they're not, they're not just like pulling our strings when they say stuff like this, but for people on the outside, it's just fuel for them to, you know, spread Fudd all over the place.

[00:02:44] So I'm personally just excited to get past it. And even when smart tracks or smart contracts come out, It's just like going to be a breath of fresh air for me, because then we can just move on from this conversation. And I don't have to talk about to people who, you know, don't do the research.

[00:03:00] Mr. Goose: [00:03:00] Yeah. A hundred percent, like the day, the day when this narrative, you know, back and forth of when smart contracts, when you know, applications it's and we can move past from that, it's going to be a good day, you know, even, and vice versa, like, because a lot of that, a lot of that, um, Antagonism comes from the Ethereum community.

[00:03:20] Right. But on the, on, on our side, I want, if there are any M 2.0 to be a success, I also want that to not be ammunition for us to attack the community. Like I want, need to point out to come out and be a banger. Right. Cause then it's all it's going to do is bolster more adoption for the cryptocurrency. All that's going to do is be positive, right?

[00:03:38] Like I would rather our communities cheer each other on, but at the same time, I'm not going to sit back and let. Other communities slander our own, where there is like w you know, with zero basis. Right. So I'm, I'm not going to, I'm not going to be that person.

[00:03:53] Calvin: [00:03:53] I mean, that's a good point because I, I, I don't have like a personal vendetta against Ethereum.

[00:04:01] Like actually Ethereum is what brought me into this space, um, at the beginning, because it was like the first real computing blockchain, but I. Most of my, you know, if you read my Twitter, it might come across. Like I hate Ethereum and it's really not true. Like I hate Ethereum gas feeds and that's it.

[00:04:20] That's all I hate. And, um, you know, once the Ethereum two comes out and things are cheaper and faster, like, you know, game on. It's great. The problem, I think comes when the Ethereum community, they'll say things about con uh, Cardona. They're just flat out untrue. Whereas like, like I go send a transaction on Ethereum and there's your proof, you know, the things that they say about Cardona are just

[00:04:47] Mr. Goose: [00:04:47] false.

[00:04:47] Yeah. Yeah. No, I definitely agree. Like I do, I do engage in arguments and I know like the cardamom community knows exactly what I'm talking about. When I talk about the LightStream with milker. Uh, what is his name? David Hoffman, where he called Cardinal blatant scam. I definitely attacked him on that one.

[00:05:09] Uh, I wouldn't say attacked. I definitely refuted what he said. Um, but like what I like the, the things that I can point out are factual. Right. And they're provable. I mean, and the things that he says. Like that they're based on it's based on nothing. So there's a fundamental difference there and, you know, but it is what it is.

[00:05:28] So the day, the day that it comes when, when those are no longer arguments will be a good day. But I do have a question for you about the Africa event. I want to know, what do you think is going to happen? Price prediction wise, leading up to or after the Africa event?

[00:05:45] Calvin: [00:05:45] Yeah, honestly, I mean, it's kind of a hard question because.

[00:05:49] It's it's speculative in nature. I think there's the main question for me is currently are we, is the, the Africa event priced in. And I think that there's, there is actually a case to be made that it is priced in because it's been talked about for so long. So I think, you know, a lot of the run-up happening in the first quarter of 2021.

[00:06:12] Probably could have been part of that. Um, it also could have been, you know, the a run-up to smart contract, launch dates and all that stuff. So it's kind of hard to quantify what part of it was being priced in. Um, I, I think I'm, I'm pretty bullish on, on what, what would happen because I think in the end it's going to be validation for.

[00:06:36] This narrative. I, I wouldn't be surprised if there was a little bit of a washout after the announcement and, uh, like a minor pump, you know, like we're maybe I think we're just, it's on the 29th. So we're just under about six days away. There is a chance that there could be a pump leading up to then, but because of our recent washout, which you know, is another.

[00:06:57] Discussion, um, just recently with all the liquidation with Bitcoin and we're down now, I think back to about a dollar 10 for Cardona. Um, you know, we could, we could pump back up to around one 50. Um, if we break that right around the announcement, I would say it's, it's liftoff probably to around $2. Yeah, I

[00:07:21] Mr. Goose: [00:07:21] agree.

[00:07:23] I think so. Okay. Let me formulate my thoughts here. I think there are three. Pillars in terms of what drove Cardona to its current price. I do pillar one is, um, global asset inflation pillar two is the bull run that happening. Pillar three is, um, Cardinal teasing, smart contracts. I do think, however, while not fully priced in.

[00:07:57] There are people who have bought car Dano solely for the reasoning of, of the first of the largest government blockchain partnership. I don't think it's priced in fully. I do think there's going to be a, sell the new or buy the hype, sell the news event there always is, and that doesn't have to make it bad.

[00:08:21] That's just traders. Um, Subscribing to a narrative. That's made them tons of money for the past, you know, seven years. So that's and I think that's fine. That's good. I do think there will be institutional demand if all goes. Well, I think, I think it's better to undersell and over-deliver, I I'm hoping that investors and speculators have not been oversold and are going to be underwhelmed.

[00:08:53] I'm hoping that. The news that does come out is big enough that there will be institutional demand that we'll set that will set prices higher than a dollar 50. And that will be support because you're right. A dollar 50 right now is the resistance line. We've touched it three times. It failed three times.

[00:09:15] Once we break a dollar 50, right. It'll that'll be, you know, price, discovery mode. Right. So I do think if we can, if we can break a dollar 50, which I think, I think the, by the news or by the hype Southern news can do, and then we get into this because institutional demand is going to wait for volatility to die down.

[00:09:35] If we can have institutional institutional demand after that and establish ourself above one 50, I think Cardona, I think Cardinal makes its way up to $2 in the past. It. But, you know, within the next month or two. So that's what I think we just have to, we just have, sorry, we just have to have a community.

[00:09:50] That's not underwhelmed by the news.

[00:09:53] Calvin: [00:09:53] Yeah, exactly. That's that's actually what, I, that's such a good point because I think the fact that Africa has been this topic for. I mean, as long as I've been a part of Cardona, which is honestly not that long, I got into Cardona last year. Um, but I've been hearing about Africa ever since then.

[00:10:10] And it finally, we got our, um, a date for the announcement on Africa. I think that there is a very real risk of over-hype. Um, and that's, that's probably the caveat that I would have on this is like, if it's underwhelming, it could be pretty painful.

[00:10:31] Mr. Goose: [00:10:31] Yeah, definitely. I think, I think once people start to realize the importance of a deal like this and the multiple, um, double folds behind it, like for instance one, yes, there will be a massive ecosystem that begins thriving within Africa or wherever, whatever country that they're going to announce that they have a partnership with.

[00:10:54] And that will be good. A compounding reasoning will be now, there are multi-millions and that was quoted. I, you know, we don't know if that's true of users, onboarded onto the platform that is pitching material for. Cardona is commercial arm to take it to Western companies or, you know, uh, investment firms or whatever, and pitch them a platform that has consumers on them that are willing to buy their product.

[00:11:22] And we're talking about fortune 500 companies here. It that's, that's the double effect that I don't think people are seeing yet. And if we can, if yeah. And if people start to realize that I do think that this, this will be a deal that. Not only transcends Cardinals in invalidation, it will help the entire industry.

[00:11:40] Cause then it'll show. Then it'll show that other companies can be, can be, you know, products or, um, environments of which governments can develop on or exist on. And it'll provide validation for the whole entire industry. So if this could be huge, but again, I don't want to be oversold. I I'm, I'm going to go into it as, um, As an undersold as possible.

[00:12:06] I do think there are big implications. Um, I just, like I said, I, I need to be realistic and I hope I hope, you know, other people are as well.

[00:12:15] Calvin: [00:12:15] Yeah. Here's what I think needs to happen. I think, cause I've, I've heard, um, several narratives on crypto Twitter, which, you know, is where I get most of my, um, sentiment from, but, um, I've heard a lot of narratives of like, well, Is it going to be a government contractor?

[00:12:33] Is it just going to be a private company like private companies in Africa? And I think there's probably a lot of skepticism that they would actually be able to, um, uh, close a contract with a government in Africa, like an actual government. Um, and I think that that is probably the benchmark of, is this over-hyped or is it not?

[00:12:53] If they come out and they say, Oh, you know, like we got permission from the Africa government to sign these contracts with some businesses, that's going to be pretty underwhelming. But if they come in and they're like, Hey, we actually signed a contract to build infrastructure for the country on Cardona.

[00:13:07] That's what's going to deliver. And a good, um, example of this is back when stellar announced that day, uh, they were going to, uh, build the Romania currency on stellar. And there was a huge, huge pump after that because government contracts are huge.

[00:13:26] Mr. Goose: [00:13:26] So, yeah, no, that makes sense. I do think, I, I mean, like I listened to, uh, John O'Connor who I believe runs the commercial arm in Africa for IOG.

[00:13:36] Um, and you know, he said they, they were bidding on contracts left and right. And, uh, some they were losing, some of are winning. And I do think those may have been, as you said, private companies, which are still good, I do think. And, and which means they've been doing them for a while. Right. And there hasn't been there.

[00:13:56] Hasn't been this big, big of an event, but they've been in Africa for years now. They've been, they've been developing a relationship with the government for years now. Right. So, and no other like blockchain has been doing that. So they're going to have, they're going to have an in or an advantage over other blockchains with the actual government, I believe.

[00:14:16] And, and, you know, like, Crypto media, and this is a whole nother talking to sell, but crypto media needs to step his game up. And I did see a crypto media article about the minister of, of Ethiopia signing, uh, waiting to sign the paper, which does mean like that. Now we have, you know, official government partnership and I, and I, and obviously, I don't know if that's true and we'll just have to wait, but you know, if there is an infrastructure play here, regardless of, of what it is, you know, it's going to be big, right.

[00:14:42] Because at the end of the day, like right now, Globally, the crypto markets are booming. Everything's really blooming, but the crypto markets has a narrative to play and there's a big bet to be made in asymmetric upside. I do think the next play after the, uh, the crypto play this year is emerging markets.

[00:15:00] And I mean, if you, if you're, if you're talking about like, The perfect investment. Why not ride the crypto wave via Cardona, who is also setting themselves up very well to be the center of emerging market infrastructure place. Once emerging markets become the next play, you know, it's kind of a double whammy and you get, and you get early access to both.

[00:15:25] So I do think there's another, there's another reasoning behind why, why Cardinal? So, you

[00:15:31] Calvin: [00:15:31] know, white it, yeah. And I mean, like, I'm, I'm definitely bullish on, I I'm expecting a government contract. I'm not necessarily skeptical here. Um, and I think that that's going to be. Like a really big deal, um, for car Dano.

[00:15:48] Uh, the one thing, and this is a question I have for you is like, uh, just to give some context on this episode, we had huge liquidations happen yesterday, uh, for Bitcoin and, and a lot of downward pressure on the crypto markets. Um, Cardona even, uh, suffered. I think I want to say it, it probably whipped down 15 or 20%.

[00:16:08] Um, it sets come up quite a bit and so has a lot of other altcoins. But I'm kind of curious what your opinion is like on, on the overall crypto sentiment. I, I feel like a lot of people, not institutional, um, traders, I felt like almost all of the institutional demand for crypto is like buying the depths.

[00:16:28] But I th I think for a lot of retail players, There's sort of like this fatigue happening in the crypto, like where we w we keep hitting these ceilings and getting rejected, and it's like, how much more of these are we going to do? And I'm kind of curious, like, if you think that, like, if, and if so, what kind of impact that's going to have on the Cardona announcement?

[00:16:49] Is it going to get lost in the noise of a, uh, of a, a, um, a market that's bleeding a little bit right

[00:16:55] Mr. Goose: [00:16:55] now? That's a good question. And a, and a very good, uh, concern. And, and is it a confluence of a lot of different things here? My, my take on this is, I don't think we should be worried for Bitcoin right now.

[00:17:11] I think you look back at 2017. There were dips like this left and right. You know, we, we fell below the 50 day, moving average multiple times. I think that the different, the current high right now it's like 25%, you know, we had 33, 45% dips in the last bull run. So I think we're fine. I don't think anyone has anything to worry about for the long run and I could be wrong, right?

[00:17:36] Nobody has a crystal ball here. I do have this weird, like gut feeling, instinct, whatever you want to call it. It lives inside of a trader's head analysis, head investor's head, uh, where you can, you know, sort of think about everything in your own perspective. And, and you come up with this gut feeling and I just have this gut feeling that we are not done yet.

[00:17:56] And, and if you do, if you're subscribed to our newsletters, I did. You know, post some charts and have some data for you and break down. Why do you think that is? But in terms of gut feeling, I don't think we're done yet. I think the fundamental difference between this run in 2017 is in 2017. Everybody thought this was a joke.

[00:18:15] This run, nobody does. We're getting, and we're getting institutional demand to prove it. Venmo, PayPal, visa. The Coinbase, uh, public listing, right? Uh, GBTC talks of talks of ETFs, the Canadian ETF, like it's here, we're validated, like cryptocurrency is not going away. The, the recent dips was needed, right? Like we needed to, we needed to get these, these dirt.

[00:18:40] And because derivative trading is. Pretty new to the cryptocurrency industry. A lot of people are taking advantage of it and it needs to be washed out every once in a while. That's, it's just, it's healthy. It's healthy for the market. We can't be continuing to be overheated. So that initial, that initial washout at 64, 63,000 needed.

[00:19:00] Now we have a dip that's really, isn't very substantial. 10%, maybe let's, let's make it a little more healthy. Now we get, you know, India, India is a COVID. Our, our COVID in India, spiking and breaking records on the day, making investors wary. Now we drop a little bit more now in the United States, biding comes out and says that we're going to prep or that they proposed to double capital gains taxes.

[00:19:24] Boom. We take another hit, more people get liquidated. So these are just compounding effects that are taking short term. Um, That are, that are affecting the market in the short term. Right. So, yeah, zoom out. Right. Look, look at what look at what's happening. Look at the demand for, uh, for cryptocurrency and Bitcoin and specifics and, and realize that long-term, we are astoundingly bullish.

[00:19:49] Now you have to remember as well, sometime in may, I believe it's May 10th, right? Or let me do it this way. Only eight days ago was the quarter one tax filings deadline May 10th. Everybody has to report their quarter one earnings, which means everybody who didn't make an announcement that they put Bitcoin in their reserves needs to come out publicly and say that they did.

[00:20:10] I do think there are going to be a lot of companies who didn't come out. And say that they bought Bitcoin, whether it be through GBTC or whether it be Bitcoin directly from an OTC trade, we'll have to announce that. And that's going to be, I do think that will be the Mark of the bottom. When, when companies start coming out that didn't previously announce will be the market of the bottom.

[00:20:29] We start making our own back up. Now, if you do, if you do want to see the charts and the data that I, that I came out with on Thursday, Please subscribe to our newsletter, become a premium member. You can see, I broke down fully. Exactly what, what these charts look like, where we're at, how much further we have to run.

[00:20:44] Are we overheated? Uh, and where, what, what a, what a market top will look like on these charts, that way you can kind of somewhat time it historically.

[00:20:54] Calvin: [00:20:54] Yeah. Yeah. And I think that's important, like having. Having a, a macro perspective on the markets, like definitely helps, uh, remove some of that panic. I think for a lot of people getting into crypto, um, Yeah.

[00:21:09] Especially even in our audience, like we're, we're almost all retail traders, actually. We are Oriental sectors, if you want to be honest. Um, unless there's like, really? Yeah. So like, um, I was going to say, unless the, unless life and times is like this secret institutional investor.

[00:21:26] Mr. Goose: [00:21:26] Yeah. He's just looking for free alpha.

[00:21:28] I get

[00:21:28] Calvin: [00:21:28] it. Yeah, exactly. Um, but yeah, it's huge. And, and those, those, um, Those newsletters are sent out on Tuesdays and Thursdays. So, um, let's see. I have another question for you. Um, I think, well, you sort of answered it, you know, the markets as a whole, uh, feeling a little bit fatigued. I think that you're right.

[00:21:50] Um, some, a lot of this reset needs to happen. I think the problem with, um, the market reset that's been happening is it's it's. It's sort of felt like prolonged. And I think that they're like, we're waiting to see when's the next major wave, right? Like we've kind of, we've kind of been ranging in some areas.

[00:22:11] Um, you know, the ones that we care about, like Cardona and Bitcoin, like w we've almost been ranging for the last month. And it's like, um, when are we going to break through that ceiling? So, um, I think for me, the catalyst, like you said, is probably going to be those earnings reports, but also like, I actually am really curious if, if a blockchain like Cardona announces a major government contract, what kind of effect would that have on the rest of the crypto space?

[00:22:39] I I'm actually kind of curious on that.

[00:22:40] Mr. Goose: [00:22:40] Yeah. That's what we were talking about earlier, right? Like this could be the first time where a major deal or a major announcement from. Uh, not from Bitcoin, right? A project considered an altcoin could move the markets. That would be, that would be best case scenario and historical.

[00:22:59] I do think it could happen, right? Like there are a lot of retail eyes on Cardona right now. If people pick up on the next Thursday and this becomes an event that, you know, spreads mainstream, this could be the first time where, where markets move based off of, uh, of a generation to our generation through blockchain.

[00:23:17] I want that to happen so bad dude, but we'll see. We'll see. And if it does, if it does, if it does, and that, that marks the bottom four for Bitcoin. Oh my God, dude, the validation people are going to have the community, you know, outburst of joy will be awesome, so it can happen. But at the same time, let's, let's, let's also, you know, shed some light onto the, uh, the opposite side of the spectrum here is.

[00:23:41] It could, like you said, it could get eaten up, you know, in the chop a Bitcoin, you know, like right now there there's the, the short term trends, bearish, you know, this, this news could definitely get eaten up. Not a lot of, there's not a lot of, maybe there's not a lot of open interest, right. To buy all coins right now because people are just risk-off right now.

[00:23:56] So, so, you know, who knows, maybe we, maybe this announcement could come out and, and there really isn't any much, there, there really isn't much price action. So we just need to be realistic. We can, we can also hope. And I do think this could have the potential. To move the market. So we'll see.

[00:24:14] Calvin: [00:24:14] For sure. Yeah.

[00:24:15] And I guess maybe a follow up question to that is let's look on the flip side, right? Cause we're not, not really about hyping over-hyping things, um, on the crypto drip. So what, in your opinion, uh, is something that could happen in the markets that would signal to you? Oh no, we're at the top.

[00:24:37] Mr. Goose: [00:24:37] The top signal for me

[00:24:42] Calvin: [00:24:42] an asteroid. I knew it.

[00:24:45] Mr. Goose: [00:24:45] I'm not that book. Um, and Tom signal could, and you know, who knows when this will pass a top signal could be, uh, the passing of, of this proposal. Uh, of the recent, uh, capital gains proposal because of who knows, who knows how much our Western interest there is in cryptocurrency relative to the globe, you know, who knows?

[00:25:04] I don't know. I mean, and then at another top could be, um, Like technical, like it could be the breaking of the 200 day moving average, which we're going for now, which I believe is 45,000. Um, what, what will be the catalyst? I don't know. You know, I really don't. I just not like this would be the weirdest top.

[00:25:24] I don't, I don't think like it would just be a very weird top. Like there was no, there was no, most, most of these bull runs kind of go on a hockey stick formation. Right. We accumulate on the bottom for a little bit. We have some run up towards that, you know? Uh, to that curvature of the hockey stick and then boom, parabolic move.

[00:25:44] We haven't had a parabolic move yet. So it's been, it's been pretty, um, you know, a step upward, some consolidation, step upwards consolidation, step overs consolidation, and yes, they'll step upwards have been, you know, uh, less and less, but I think that's why we needed a healthy washout and 30% South to me, which we're not even at 30% yet, you know?

[00:26:06] So I think it's good. Yeah. I think.

[00:26:11] Calvin: [00:26:11] I think, um, you know, the one, the one caveat that I would have on this cycle compared to previous cycles is, is COVID. And I, you could probably make a really good case that COVID only strengthened this bull cycle. So it's kind of the opposite of a bearish signal. Right.

[00:26:29] But with that being said, there's been so much monetary, um, changes to the norm and money and printing. That I think that there is a possibility of, you know, implications of that, that we haven't necessarily factored into analysis. I think a lot of people have factored in the fact that, Oh, well, money printing equals asset appreciation.

[00:26:50] And obviously that's been true to this point, but it's, I think the caveat for me would be like, this is an unexplored territory. And so there could be, you know, something that happens that none of us expected, but it would be surprising.

[00:27:08] Mr. Goose: [00:27:08] I think, I think when the engines turn off a considerable downside is on the horizon, but the engines are nowhere near turned off.

[00:27:15] You know, we, we are still, uh, definitely like, I mean, the infrastructure bill. More than likely going to pass. If, if everything in India goes horribly wrong and new strains of COVID start popping up. And that goes, that outbreaks again. And we go back in and to lock downs. Then what, you know, the narrative for Bitcoin does not become stronger.

[00:27:41] And guess what? Nobody's mine. I'm not nobody, but guess what? Bitcoin is not. I mean, Gold's not being bought the market's chose. The markets are choosing Bitcoin right now. As their safe Haven assets. So, and that that's been the strongest narrative so far. And if, you know, if we keep seeing the, if we keep seeing lockdowns like this, you know, what, what, what, what our government's response that, that could be like, what, what, what would be the response right.

[00:28:05] Continuing to, you know, adopt QE. It seems like the only, the only response that, that they've been doing recently, I mean, $25 trillion globally within the past 12 months, you know, So, so the narrative for Bitcoin strong, and I do think it's only gonna get stronger, the worst that COVID gets. And it's unfortunate, but you know, I guess that's how markets work or at least this narrative currently.

[00:28:30] Calvin: [00:28:30] Yeah. Um, life and times put something in the chat too, which I think is super interesting as a potential for China invading Taiwan or Japan even, or us not in Japan. Hong Kong. Okay. I think that's like a really interesting, I don't know, I'm personally, like I'm not super aware with the geopolitics over there, but I know that Taiwan is a huge economic center with the U S

[00:28:55] Mr. Goose: [00:28:55] um, but with that being said, um, I like.

[00:29:01] My brother called me the other day and was asking me if you know, our, should I be worried? He just called me. And he was like, didn't even say anything. Should I be like, no, dude, you shouldn't be worried. And he was like, fair enough. Hung up.

[00:29:14] Calvin: [00:29:14] Perfect. Yeah. And that's the retail sentiment, right? Yeah. Should I be

[00:29:18] Mr. Goose: [00:29:18] worried?

[00:29:20] Exactly that like people are, people are at risk off right now. And, you know, it's fair, you know, the markets in embarrass short term trends. So, alright. Would be a signal of the current economic slash info war going very hot and a willingness to shut down Bitcoin mining and attack the crypto markets more generally.

[00:29:42] Calvin: [00:29:42] Yeah. I mean, let's, let's remember, right. Bitcoin is not really decentralized. True. I mean, so, so what happened? Let's let's look back at what happened recently when the hast rate for Bitcoin plummeted. I think it was 40% or was it even more than that? Yeah,

[00:30:01] Mr. Goose: [00:30:01] no, it was significant. I'm not sure what the

[00:30:02] Calvin: [00:30:02] percentage was, but the reason, the reason was there was a power shut down in, um, a, uh, a region of China, which holds a massive majority of minor drugs.

[00:30:15] Mr. Goose: [00:30:15] Right. Yeah. I mean, uh, you know, and that's just the fault of it. Yeah. You know, not having the foresight, you know, that Satoshi had when he made the, uh, the initial Bitcoin white paper. But if the United States and rest of the world can understand this before China make such a move and incentivizing mining in their jurisdictions, we can read decentralize.

[00:30:36] I agree with that. I, 100% agree. I think the United States need to pick up their game and they need to start entering the Bitcoin mining space. I think IBM I think Nvidia Intel instead of, instead of creating, you know, ASIC friendly mining chips let's are mining rigs. Let's get them into the game and create their own mining operations.

[00:30:55] You know, like this, this is how, I mean, if, if this, this whole tinfoil hat conspiracy of China, you know, weaponizing Bitcoin in the form of a currency, let's, let's, uh, you know, let's start our own operation. Right. So I think that, I think we should have a big tech stepping in. At this point. Yeah, absolutely.

[00:31:16] I mean, how, you know, the barriers to entry for, for ASIC mining are high. Right? So why not just have the people creating the ASIC miners? Be the people starting the operation.

[00:31:26] Calvin: [00:31:26] Yeah. Yeah. In life and times it makes a good point too, about tax incentives. And that's why these things matter, these policies that come down the pipeline, um, let's not penalize people for getting into crypto because hello, it's the future.

[00:31:39] Mr. Goose: [00:31:39] Yeah, no, exactly. And guess what you're going to, you're going to, you're going to cause people. Like you want, you want to raise taxes so that you can fund your infrastructure bill. So you're going to raise all the taxes so that people never sell, never create tax events, never have any inflow of, of tax, right with you all they're going to do guess what?

[00:31:55] Cause people are creating. People are creating alternatives to, to selling. You're selling your crypto. There's going to be, there's going to be, and there already is. Right. Just, just use your crypto as collateral and pull out a USD loan. Boom. Don't have to pay taxes. Yeah.

[00:32:09] Calvin: [00:32:09] So, and 100%, I guarantee you capital gains.

[00:32:13] It makes me invest. It makes me not want to trade. Yup. A hundred percent. So I huddle. Um, all right, man. Yeah. Well, do you guys, anything else, uh, for this?

[00:32:27] Mr. Goose: [00:32:27] Um, no dude, I I'm excited. I'm excited for the, uh, the canonical Africa special. I hope you are too, because you should be, and you should be tuning in. They do have a site where you can register.

[00:32:38] We'll post a link in our discord, uh, jump in register and be there because it will be good. So be there be square.

[00:32:52] Calvin: [00:32:52] All right, guys. Thank you for listening in to episode two of the crypto drip. I hope you enjoyed what you heard as goose said, make sure you sign up on the crypto drip.com/join. Get access to discord and make sure, uh, stay up to date on car Dano in Africa, April 29th. For those of you who want to connect a little bit more, you can find myself on Twitter at crypto Calvin.

[00:33:20] I need to find Mr. Goose at goose of crypto. I want to thank you for joining us today. So next week is Calvin.

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