Yo-yo, yo, what up? What up? Good morning. Good morning. Small now on this being a Tuesday. Ohh just Tuesday. My God, yesterday felt like a week. OK, I guess it's just Tuesday, Tuesday, January 9th, 2024444. Look at that. Another beautiful day to have a beautiful day. I got my co-host in the house off Mandel. How you doing today? GM guys. One day, one day closer. One day closer or or same day? Or same day, yeah. Or same day. I mean we're we're getting, we're definitely getting closer
here. Amanda, how you doing today? Doing great, man. Doing great. Lisbon's a little bit, a little bit rainy actually. Ohh. Last couple of days, yeah. Yeah. Fair of you to say. So rugged. I feel rugged by this. Country. I wonder how many days a year it actually rains in in in Lisboa. Like I I don't think it's a lot right. I think they say it's 300 days of sunshine high and it's generally warm. It's really, it's the warmest European capsule.
So you get as in like during the winter, so it stays pretty warm. But yeah, I've definitely been rugged the last couple of days. Too much sun, isn't it? 300 days just yeah. It sucks. Not enough? Sunlight for like 2 months and you got another three months to go before in May. Well, well, no four or four months to go. Really funny today. Very, very sunny today. I I can't say the same here. I I can't. Say this 1° but apart from.
That it's right here. There's something nice about, like a nice, sunny, cold winter day. You know what I mean? Like. What's the what's the the football quote like? Have you played a rainy night? And ohh Tuesday night in Stoke. Ohh, Tuesday night in Stoke. Yeah that have you, but have you? But have you played a cold Tuesday night in Stoke? Because. You know what 11° here? The Oval, Lisbon. Yeah. That is outside here is -8
Celsius right now. But that's that's like rookie numbers like honestly January 9th like and it's just it's barely even snowing and like barely even cold. This is like this is bullish. Like this is a this is a sign that the ETF's are around. Speaking of which, today on the show to day-to-day market updates, moves, yadda yadda yadda, you already know the drill. As usual, we're gonna talk about Jim Cramer's, you know,
reversing the market. So we're we're, we're glad that Jim Cramer is now, you know, calling for top on Bitcoin, let you guys saw that, you know Mando, given that, you know, you know the minutes you write, the minutes you're, you know, big news guys. So you've probably seen it. These topics are done off my minutes. I'm pretty sure I saw it, yeah. I love that. Hey, hey, Mando GPT, find me the five biggest topics to talk about on the show today. No, I'm just kidding.
I'm just listen, listen, listen. So that's what we're talking about. Of course, getting closer to the ETF. So sorry about that. I promise you at some point there's not gonna be any ETF conversation. But right now that is what's happening in this space. And we have talked about it. So. And we're we're going to be joined by Stacey Elliott of of the Crypt actually to to come and talk to us you know kind of like the latest SO tweet yesterday about like some potential play blah blah blah.
Like you know all that good stuff I saw I saw you quote tweet that obvious well but so we'll get the actual you know news and see what's going on on that front. Then NFT update we promised it. We have to deliver it. We're going to go through Solana Bitcoin Ethan FTC, what's going around the the space and whatnot and see what the show brings us. Without further ado, why don't we get this? This part party started today. So sure, who should I go to first? You know who?
Who's feeling more like upcoming Mandi Feel like yesterday you cooked this essential. Who is the man? Michael, Daddy of the land? Can you take it? Yes. So we we had a very, very strong day yesterday. Bitcoin hit 47 Ki think 47.2 at its high. You saw Earth go all the way up to 2350 area Solana. So I don't actually pick this morning went all the way up to one or two, but just a a very, very strong day of bounce back in a bunch of different alts as well. Bitcoin dominance did rise.
We are heading towards 55% actually we're at 55% right now in Bitcoin. That's if you bring up the Bitcoin dominance chart, it's it's been a wild start to the year. We started the year at 51% roughly. Yeah, the lows were around 51% and we're up to 55%. So huge, huge move. I think E BTC is at its lowest rate in in multiple years at this stage. It broke through kind of a multi year resistance point and it definitely feels like Bitcoin is people looking trying to to get exposure to that.
We said that yesterday. We said look we think Bitcoin dominance early in the week go up to you know 5557%. It could even go as high as sixty. I think in this world I'm not like we're about to see a bunch of different ETFs launch. There is not a lot of Bitcoin on exchanges. You could see something would happen but yeah that that is an uneven not unexpected move in Bitcoin dominance although up to 55%. But at least this was a rally which everyone participated in.
I think what been happening before is Bitcoin had done nothing and all the alts have got lower this this was becoming going higher and everything kind of following but at least not following as strongly as Bitcoin was. In terms of the the stuff that really bounced Solana went above one or two, I mean that had 85 on on Sunday night that that was so that was a reversal of of about 20% there which is which is pretty wild in in just a couple of days.
And then you saw all the sole memes also have a big move up. So Bonk with all of those so some DJ activity kind of came back and then you continue to see some of the more Bitcoin related things outperform I would say so some of the BRC 20s, some of the some of the L2 stacks included some of the D5 protocols like run kind of bounce back quite strongly And then it was it was it was actually some of the newer coins so like Tia had a big run backup you had Sui kind of bounced
back. So it was it was kind of broad based, but the only thing that's really held this morning because Bitcoin did briefly drop again on some just wobbles around headlines around the. ETF like that just Bitcoin just wobbles around that's that's yeah. Yeah, and it stuck around. I think it down to like 46 K and everything puked and then bitcoins back up to to 40. 75454. Wow. OK, maybe I missed that, but yeah, that was a pretty big deal. Nothing really.
It was a news that really come out yesterday. The SEC was coming back with some additional comments. The the alpha on that is that there's not going to be delayed, It's going to continue seemingly. But people, you know, people got unsure. And again, you've just seen Bitcoin dominance grow and since that move so long has stayed above 100. But most other things are lower including E which is kind of continued to bleed back, bleed lower since since that initial
move blower, yeah. So where we are in terms of of the ETFs? Actually. Hold on, I'm gonna bring Stacey up now then to chat about the ETS. So I'll go on. Go on mine though. Sure. I I don't really think there's that much new, but maybe Stacey, Stacey can bring it in. Like it feels as if we're still on track from where we were yesterday. But there's been, yeah, a couple of headlines around it. Yeah, So anyway, GM Morning, guys.
How you doing? I'm in the middle of moving, so please excuse the very bland background. I love, I love that you have the same microphone as as all of us. Ohh yeah. I had to dig it out-of-the-box that it was packed in. But yeah, I'm here with my proper podcast microphone. Snazzy before you go off on the ETS because I know that's your stick. You know, why don't you give us a little introduction for the, for the, for the full hour listener of and and rug radio.
Yeah, sure, I I'm a Jay School reporter. Like, I got started at a newspaper, back when newspapers were still a thing. I've been covering business and finance for a long time, like 10 plus years now. I was at Fortune for a bit. I was working over at the street for a little while, writing a newsletter about institutional investing in crypto, and then I got poached to come over to decrypt, which was lovely. It was a great day. Nice must be nice. Must be nice. Would be a lot of fun. So.
So I'm told that you've got some. You know you're quite the alpha for ETF stuff and all this finance talk. So why don't you, why don't you give us the TLDR that Mando is going to get into it. But like what's going on. We saw a tweet yesterday. I know Ovie had some comments to make on on X I'll get to those after and like and and some people saying there was like some form and then someone wrote a tweet saying like ohh like it
might get delayed. So I go went viral and things you know as usual like Mando said wobble around. So what's what's actually going on right now is the latest. So the latest latest is that there's been a whole new right. So we saw a bunch of new updated S1 registrations get filed yesterday and then this morning we saw a whole new round of them
get filed this morning. So basically what's happening is that like you know, everything gets turned in, The SEC is looking over everyone's forms and saying, OK, hey, we need you to fix this before we can proceed. And whoever these poor people are at all these firms who are kind of filling out these forms are basically working overnight. Like at some point I want to talk to one of these people who had to work like 4 days straight on this kind of stuff.
So yeah, I've seen some people saying that this might be like a delay tactic or something like that, but the deadline is the deadline. They've still gotta do something either to say they're gonna delay it or, you know, they're gonna approve or reject by tomorrow. I don't know. They're working so fast. I don't know that this is really a bad sign.
That might be the dip that you were talking about earlier, Mando, that we saw in the Bitcoin price that everyone kind of panicked and thought, ohh, shit, everyone's filing some more stuff. Maybe this isn't going to happen, but yeah, I'm not. I'm not so bearish on it like that. Like, I still think we're on
track. It just seems like everyone is working around the clock, like as soon as stuff is getting filed, it's getting reviewed, comments are going back and they're just trying to get everything in order. So yeah, it's just more filings. So far from what I've seen, I haven't read all of them just yet because they just got filed this morning. I think a lot of it just has to do with the fees and everything that everyone was talking about yesterday. I think all that got sent in
first time yesterday. And so now the SEC has had a look at the way everyone plans to handle fees and has had some feedback. OK. I saw, I I just saw that going through James's ex while you were, you know, talking about this, that there's been also some fee cuts, right? So the feet like the the fee warp started before he even started, right?
Yeah. I mean there's I think at least three or four of them that are going to like launch with like a 0% fee basically until they get to like I think I saw for some of them until they get to like a billion dollars of assets under management. Others are gonna do like for a certain set amount of time whichever one they hit first.
The thing basically is that Black Rock came out and said we're going to be at 0.3% fee, 0.2% introductory like until they get to 5 billion and that basically kind of just set the line for where everyone else needs to be under if they want to compete with Black Rock at all. So it's really competitive. It's the same thing you see, like with it's funny, like, I compared this kind of like to
the Costco rotisserie chickens. Like the really cheap chickens you can go in and get, like, they wanna get you in the door, they wanna get you invested in the fund with these really low fees. But they're not gonna last forever. Yeah, so these aren't meant to be, like sustainably, like low fees. It's just please sign up with us first. Yeah it's a it's a it's quite interesting actually.
So do you wanna like I guess since you're you're you're you already like on that do you want to like maybe break out down to people like what it actually means like to like the fact there's an TF for the people that are like outside of the space. Because like I feel like everyone talks about TF including us all the time on this show and you know started to our listeners if if you're not digging it. But it's important, right.
It's happened at the moment but you know a lot of people also just like don't maybe don't understand and we all get caught up in like the hot the big talk and like the price action and like from your perspective like how would you explain that to someone, like the importance and like what it means for the. Average, I mean it means like like literally for me like you know, we have like retirement accounts. So like I can allocate some portion of that to like a
Bitcoin ETF. And so now some portion of the money I'm saving for retirement will get exposure to and kind of go up and down relative to what the Bitcoin price is doing. It means that you'll have a way to invest in and get exposure to Bitcoin without having to buy a wallet and manage private fees. Worry about who's going to hold on to that Bitcoin. Like worry that you're going to end up like that one dude who like lost his private key and there's like tonnes and tonnes
of Bitcoin somewhere. And like a huge like landfill. Like these firms that are applying to actually register and offer the ETF's are kind of saying OK, we'll manage all that stuff for you. Your shares will go up and down relative to the price of Bitcoin. If you want to sell, you are just going to get cash back. That was one of the big sticking points with the SEC.
It's actually not so bad. We might see in kind settlement later, umm, but the whole thing with the fees and like it being an ETF means that because you don't have to manage any of that stuff because you're gonna have to worry about who's holding on to your Bitcoin. Like they're gonna worry about that. Like you do have to pay a fee. These people have to be paid for the fact that they're managing your Bitcoin investment on your behalf.
So that's kind of the trade off. So like, either you're cool holding your own Bitcoin, you do that, and you don't have to pay anyone to manage it, or you're like, OK, I want to get in, but I don't want to have to have a hardware wallet. So then you pay someone else to do it for you. I, I, I, I love that. And then I guess I have like one more question on that just quickly you mentioned the in kind like settlement and stuff like what, what does that mean?
So basically, people are going to give these firms, assuming this gets approved cash, they're gonna create a share, and then they're gonna use that cash that they've been given to go out and buy Bitcoin. But then when you want to redeem your shares, you can only redeem those for cash. You can't redeem it for Bitcoin. So you can't say, OK, here are all my shares, Give me the Bitcoin you bought with the cash I gave you in some other types of ETF's.
Like you can go and say, OK, I'm redeeming my shares, either give me the cash or give me, you know, the basket of stocks that you bought with my cash. So like, that's common in every other type of ETF, like different asset classes out there. Because this is such a new asset
class. What I've been hearing is basically that like they still think this is pretty risky and the SEC is kind of looking at it as a way to manage some of the risk that's going to kind of enter the financial markets to say, OK, we want to limit how many different people are going to have to handle actual Bitcoin throughout this whole process.
So by doing settlement and kind, it means that like I think it's really only the issuer and the custodian who are ever going to have to touch the Bitcoin, but it's limiting the number of firms that are going to have to worry about managing Bitcoin. I know I've seen the Bloomberg guys say basically that they think later this year we might see in kind settlement so that you could buy these shares, redeem them and then you get the Bitcoin. But we're not going to see that
at the jump. I don't think that's that's definitely not happening yet. OK, well, Stacey, that's a great breakdown. How do you how you feeling about this? You have to what? Like, is this, You know, You say you've been doing this for 10 years now, like this Must be this must be a cool moment, huh? I mean, like we've been waiting for one of these for 10 years. It seemed like it wasn't going to happen for a long time. Like, I I'm not gonna say anything you guys haven't heard
before. Like, once BlackRock kind of got in the game, it seemed like, OK, we're gonna have to take this seriously now. Yeah. Exactly but. Just on wood, please. For me, just for my own. Superstition. And that's how. I mean, if you want, there's too much like you. Know. Yeah. I mean, the crazy thing for me is like, come on, can we please disapprove this already so we
can, like, cover other stuff? Because I feel the way you guys kind of feel, which is that, like, all right, this is exciting, but just do it already so we can cover other stuff and like, the news cycle. Because otherwise, like, every day that this gets dragged on, like, it's the same round of like, OK, what teeny tiny thing has changed since yesterday? And how are we gonna, like, make that sound new and interesting?
Yeah. Ohh, Now Gensler's posting, like he just tweeted again at the same time as yesterday, is actually a guide to like a safely invest in cryptocurrency. Uh, which is by the way, like Ovie was mentioned, that was good. It's actually good. Good guy, but. Has he rugged soul yet or?
Yeah, you know what's funny? Bakunas talking about Gensler Ish. And I know if you saw my attack both of you on this morning or did you see that by attack Densify, he was saying Eric Bakunas was DTF analyst that we had on show last Friday, was rocking, writing that. He doesn't think that he's going to get densified like he was just playing. She was mentioning that. What do you think? Say sorry, we're getting we're getting identified or not before tomorrow.
I don't think so. I really don't think so. It'd be wild for them to have, like, offered all these different comments and things only to turn around and say OK, never mind, no, I would be shocked if that happens, But I mean, crazier things have happened. Yes, indeed. Some crazy things have happened. So, Stacey, thank you so much for coming on this morning. Honestly, that was fun. Hopefully when we have more market stuff and not just ETF, you can join us for a little
seconds like that. And I would love to. Appreciate you, Stacey. Luck with the move. Yeah. Thank you. Move. Yeah, well, there you go. There you have it. Your ETF, your ETF updates. Besides that, I mean, look, I want to talk about today. I actually want to talk about some stuff. We're gonna talk NFT and stuff. But I wanna talk about a tweet that OSF sent out and that had the had the studio a little hit before the show, like before we hit live.
Like This is why we were a little couple minutes late. You know, conversation went there actually. But but Ovi, so I'm gonna go to you here and if you want of course several of the market stuff but you you tweeted something out saying what is the best Bitcoin beta trade and of course you know as as bitcoins you know the main centre of
attention at the moment. We just spent, you know, a bunch of time again talking about Bitcoin TF and that's been gaining all the attention in the space right now. We talk ordinals like BRC mean OVI. What do you think the best Bitcoin better trade is right now? I don't, I don't know. But I was, it's an interesting question to ask because, you know, if you ask this question two years ago, people would say E people say other alts there because there wasn't anything on
Bitcoin, right? It was Bitcoin was just Bitcoin and that's what it was used for. And if you look at it now, we have BRC 20s, you have ordinals, you have other like Bitcoin related tokens out there. So now it's like we're in this, you know, you haven't, you've never really had this in crypto before where there's actually higher beta tokens out there that are kind of related to Bitcoin. Um, so just to be honest with you, it was like, it wasn't really like a hey, tell me what to go by.
I'm gonna go buy it now. It's more like I was curious to see how people would respond to it. And because it was a very, like, I just got like tonnes of things on ordinals, yeah, some some BRC 20 shitcoins and whatnot. And it's just very different to what people have said not even two years ago, probably from one year ago. It's just very, it's very different. So, um, that's what I was asking and it's. A good question, but yeah, it's like, what can we buy right now?
I think, I think if I'm honest, if you just want to take more risk on Bitcoin, you would just take a levered Bitcoin trade because things. Haven't really. So excluding, excluding leverage, yeah. As that just for the people listening, you're probably talking about something like a 2X. Like we're not. Like we're not. He's not talking like keyboard. Monkey hundred hundred. Times. I'm using 2X yeah anyway. Yeah, I mean for the people like, don't you be telling people like. The thing is.
Trade. Yeah, like you and you want to be safe, You wanna have very low leverage.
Obviously Bitcoin moved down what 70% still from from the high up until the start of this year that was Solana because it felt like it was that and Bitcoin used to run at the same time the most and and then that kind of broke down at this obviously because Solana obviously just went to parabolic and then has had to consolidate and went all the way down to like 85 and and kind of lost its direct correlation even as Bitcoin went higher the the most.
The most obvious correlation I feel like right now is probably stacks, which is like one of the best known L twos right now on on Bitcoin of recently that has been running generally when Bitcoin has run. But for example today stacks is down 5% and Bitcoin is up and there's still this idea that Bitcoin dominance going up hurts most alts, I would say in terms of the buckets of stuff that you could look at. I think yeah, ordinals feels like the hot thing.
And there are, there are both entities and you're seeing some of those get sweeped of this, or ordinal punks get sweeped. And then there's the BBC 20s, of which there's like 3 different forms of BBC 20s. I would say right now there's like memes or like I would say OG coins. Let's put it that way. Um, of which there are a few I think already is probably the best known, but there's Sats as
well as like a few others. There's bridges, which are like very popular bridges from Earth, or even other chains onto Bitcoin, which is, which is stuff like movie MUBI is probably the best known. And then you have kind of a just like a, I would say a smorgasbord poo poo platter of utility based BRC 20s trying to bring. Kind of flatter of Bitcoin ecosystem coins. Of which the utility is is still.
I mean. I would say to be proven and should be questioned and that that stuff can move around a lot and that stuff like tracks or track. What about rats? Any any of you on rats? Rats is that first bucket. It's it's just a it's just a shake coin. It was after Sats was made. They made rats, although it's quite. If you can, I like rats. If you go into Unistats right now, the units, what's you go into there? There. Yeah, hold on. And you just click BRC 20 you there, you there.
I'm here. I'm here. Hold on, hold on. You. I, I it's I changed. Computers don't have any of my history like saved. Just hit that. Yeah, there you go. Yeah. Yeah. That's. The OG ones, SATS was very early, so that and that had probably the biggest community behind it. There's been, there's been other ones like there's XBT, there's. That's here. And then I think Rats, Yeah, I don't know when Rats was made, but it was definitely early.
I don't think Rats on Binance yet, but Sats definitely is. But like a lot of these will move on to. Yeah, yeah. So actually that was quite late then. Yeah, it wasn't earlier compared to the rest like. When you look at it. Two days afterwards, it looks like whereas ALDI was. Yeah. Was was that first, was that first morning? So you get, yeah, you get like a
mix of different things. But then there's other stuff like, for example, a lot of the OG bitcoiners are into Ruin, which is Thor Chain, which is like a native way to swap Bitcoin assets. It doesn't involve wrapping Bitcoin. And there's another protocol called Flip, which is, which is similar that's come out recently. So a lot of like Eric Voorhees and a lot of the OG. Bitcoins. Are into into run they have. They introduced a burning mechanism recently which is linked to their lending
protocol. And so if you speak to Bitcoin is what they own. Like this is like a very, yeah, see, they've got like taproot. This is a very Bitcoin lead defy thesis and it sees huge volumes. Absolutely. Huge is one of the biggest. Yeah, Run, I mean that definitely, like, I think a lot of people have heard of Run, right. If you've been in space like, even for a little bit, it's one of the tokens you tend to hear
about quite early. So like, people could argue that if Bitcoin has this renaissance of utility, then like Run could be very, very big. And like the big thing for Run I think this year is is to onboard different chains. So really it's it's a, it's a, it's a basically a bridge lash swapping mechanism between Ethereum and Bitcoin. Because that ecosystem. They're gonna try and bring in. Solano is going to be the big one this year.
So the whole The Room community wants Solana basically to be added and that's what they're going to try and do. So I think that that's but but yeah, like that's another way you could play it. There are a couple of players like that, but there's nothing perfect.
Like if you just want to isolate Bitcoin going up, you kind of just want to have level Bitcoin. But like if you want to play Piston then BRC 20s things like Ruin um and then I guess things like Solana, Ether were gonna be the like the the next bests in terms of in terms of like beta. Yeah, that's true. I mean what do you, what do you, what makes you, what makes you want to look into that right. Like when you think about like just going back to OV, like when when you when you look into like
the Bitcoin equal. For me that would make me want to look into. It's like I realise and I think Moon actually had a really good tweet about that yesterday. It was something around the fact of I fuck, I gotta find it
again. But he was saying that people are about to realise that they're underexposed to like Bitcoin and they're going to come and try and make Bitcoin out of like NFT slash the originals and same, you know with like the BRC 20 ecosystem and like the the the coins that you know aren't that eco, you know to stack more. And I think that it's very similar to what happened in 21.
I mean I'll speak for myself. It's what got me really into it is like through NFT's to be able to to get, you know accumulate more coins like serum at 1st and yadda yadda yadda Solana, better trades to stack soul. At the end of the day, that's the only goal you know Bitcoin, you know only at the end of the day is to try and stack as much Bitcoin as possible. Going to the bull market, realise that I'm not underexposed to Bitcoin book. What do I see ordinals.
And like something that started to pop off the same way it's popped off on ETH same exact like umm, comments made about it. It's too clunky. It's too slow. It's too expensive to use the same stuff. But at the end of the day, like, you know, it's a, it's a it's it's just a cost of being early, right. And so I just feel that way again. Like, I'm not gonna lie. When I bought my first order though, and the thing went through and then I waited and then I got it, it was a whole 10
minute, like experience. Like I was like let's go. Like I loved it, you know, I love, you know, like you're you're shopping in the, you're shopping on the luxury chain, you know, what do you expect? You know, when you go buy a fucking saw, you know, a bag, a luxury store, you know, take care. They take their damn merry little time to go pack it up for you. And then you receive it and you're so happy and you walk out the store like hell yeah, I got something nice, you know?
I don't think I've ever bought a luxury bag for myself. You ever bought a luxury bag for yourself also? Luxury bag and no. No. For your for your for your loved one. You for sure. I mean, that was with Ovie when he was shopping. For, for his wife, for, for, for nice purse. You know, like you bought one for your your wife One, Right, Mendel? I think so, yeah. Right, right. I think so, yeah, I think. I can't remember now, but yeah. You know, no, listen, no. But that's that's that's
something I'm noticing. I know what do you what do you think about that right. Because like you're in pretty heavy East and like you know you've been you've been talking with a lot. But I wanna make sure that you know, you think about Bitcoin, Zika. What makes you want to look into it? Yeah. I mean I'm not just an Earth like I'm in in a few different things. Yeah. Which I I think I think it's one I have more comfort having more size on given the activity on it
versus the other chains. Like I have stuff other chains as well, but it's like it's not really big size. But I think it's just one of those things were like look this Bitcoin ETF is going to get approved and stuff is gonna rally has a good chance of stuff rallying on if they if they do big volumes. So you want to get more juice and BTC because like yeah, if Bitcoin goes to 100K that's a big move that's like that's like a 40% move, right.
Whereas you know if you're a true crypto DJ, you're not trying to make 40% your trial. Like if I can do 3X5X10X more than that. So is that going to kill? What's the Bitcoin speech training In the past that has just been like alt coins. It's been buying different altcoins and to an extent it still is like I I think all the all ones will go up with Bitcoin. I think Solana will go out of think say we'll go up and check. It will go up, AVAX will go up. All that stuff will go up by
more than Bitcoin will. If we get this thing through, I think, I think that's definitely gonna happen. Earth seems to be trading technically very poor right now. But I do think that will reverse and I think this is the the the long consensus. Well the long view has been the view for a while has been that the day of approval will be the will mark the lowest for ETH Bitcoin and that seems to be
happening right now. Like Bitcoin is now down to 0.48 which is the lowest we've seen for since like mid 2021. Um so that does seem to be happening. I think that I think that will reverse from the narrative shifts but it's just like so that's I think that's like one way to play. I think I, you know just buy Solana, like buy even just fucking buy Avax.
What you're doing it for trade. And then the question is, well is it does it make more sense to buy like one of these, you know like a BRC 20 or ordinal and that kind of stuff And that's like the newer like the new school method of doing it And I don't know like I'm not I'm not sure how I think they'll all go up but I'm not sure if they'll act at like how differently or how better they'll act as as Bitcoin voted to some of the other ones. That's the big question.
Right, I think. That really right? Thinking like that. Like if you think for example like Island Run. I've earned room for a while, but it hasn't gone up this year. It hasn't gone up at all, but it went up 5X in the second-half of last year like they are. They are beta trades, but they don't happen at the same time. So like. If you think. If you think it's suddenly going to be like, Oh yeah, my, my alt coin, which is somehow related to Bitcoin, is going to do well.
Yeah, exactly. Very, very different timing. So like jumping ship to get a bit more risk in a Bitcoin related thing I think you have to have medium term time horizons rather than just like this is going to perform. Like ruining the start of December was at 7.5 basically and now it's at 5 or 4.8 and bitcoins only done another 1020% higher since then. So I it's it's there, they are very different trade. You have to want to be in them
for themselves. Just owning some random BRC 20 and hoping that Bitcoin is going to bail you out or it's going to go up higher, I think you can get really destroyed. Do you guys think I have a question for you too because I think it's a good it's probably the question of the moment and of course nobody knows anything. And I think you're really right when you say that Ovie like like nobody knows what's gonna actually happen. But like I think it's worth just
like what? Like I, you know they're saying like you know when they're they're saying that ETF's are going to trade like the next day of the approval potentially of course, right. Supposedly, right. So when's the approval Thursday Potential trading? Like why would anyone think that any of this would see somewhat of a huge sell news event when it's gonna be trading the day after it's actually the news is out? What? What? The question is why do people think it's gonna be solved that?
Yeah, I just think people people are people are so uninformed. Like, you know, it's only now that you know, these Bloomberg lads have made such a big mark on our space that people. Are celebrities now, bro? Yeah, people are starting. To follow them there. They love it. They love it. So you know, people are starting to listen to them and follow what they're saying. But like these, these boys have been calling it for six months.
Six months ago they said the probability of it getting proves 90% and it's taken six months people to realise that Black Rock applied for their ETF in June of last year, Right. So like all the information you have right now apart from you know is being further down the line in the in the process has been out there for months and months and months and people just have failed it or just didn't do anything with it.
And we had that pump and the initial news and then just people just selling Bitcoin for ages because whatever they thought would go right down to the wire and obviously it has. But I think you know people who are still out there calling for delays, don't understand the process, don't understand how it works, probably spent less than one minute looking into it. People out there calling for a rejection.
I would say the same thing like the the evidence is, the researched evidence is extremely in favour of it being approved. Yes, there is some tail risk but to go out there and say I think it's gonna get rejected as as like you know complete lunacy and and then the third thing is like you know sell the news thing and that's that's a bit more of like a difficult thing because we have had a massive run up.
You know, we've been rallying solid, pretty much straight shot from like whatever it is like 3030 KS like all the way to him. And even in the last couple of days we had a big rally and it's only reasonable to think that people will take profits and people will take profits. But that's why I don't think like the approval or rejection of it is going to be like the
big. Obviously it's projected to be bad, but the approval of it is going to be the big thing because you have trading on the next day and that's going to be the most important. The big question rule asking here is like all of us, you've been long Bitcoin right now or whatever long crypto and the portion of people who want to take profits is that sell pressure going to be bigger or smaller than the buyer pressure of these.
Yeah when it comes and the and the and the derived amount it creates for Bitcoin, that's the big question. And so which one? That's why we see the volume. That's why we need to try and find out And we don't really know that until we see the volumes. Now the evidence for volumes seems to be that it's going to be high. There's rumours that Black are gonna put in 2 billion. I think it was Van Equal. I think it was Van Eck that's they have 400 million lined up already. Yeah, intern.
VENAC intern is the best intern in the ATF game, right? That's the only game. But that's, that's that's the big, that's the big question. I think we have to ask. And right now it feels like, you know, it feels like there's probably not many profit takers. I mean I'm sure they'll be some, but like people are seeing all the staff and maybe they'll be like a small bit of profit taking. But I think any dip that you have there, you meant to buy
but. I mean, I think it looks to me like how we're looking to overextended is like the Fear and Greed index hit the highest level since 2021. Today it's 76. You have you have high open interest, but in one specific spot it's CME, which is like the Trad Phi part of trading Bitcoin. On the other hand, you've had consolidation there of Bitcoin for like a month around 4243 K It took a long time going up and down. So this is just, this is up
since then funding looks low. It doesn't look high. It looks very, very low compared to what we've what we saw like 3 weeks ago, four weeks ago and open interest isn't high on on most of the other venues. It's really just on the, on the, on the CME, um. So it feels like we've had a long run, but I wouldn't say it's necessarily like peak
frothy frothiness right now. If it felt like if these yeah had come a couple of weeks ago or three weeks ago before we had that flush to 40 and couple of the other flushes we've had recently, that could have been a much worse scenario in terms of right we could we could go down to like 38. This feels like we could head maybe down you like there is no doubt in my mind that you will be able to buy Bitcoin at a lower level than where it is right now.
At some point over the next week like there will be one Wick that takes us down to like 45 or something like that and then it will get bought. But I do think that you got to be prepared that like there will be lower level there's because the volatility is going to be really, really high. And but I don't think it's one where like oh everyone pukes and this kind of like 35 like this, this feels different than that. This feels like they've got a lot of capital behind it.
This could be, this could arguably the be the most successful ETF launch ever in terms of volumes. Like we could easily blast through the levels that you you've seen before and stuff like that. Like yeah, this this is going to feel like it has actual trade momentum to it and we're not in a world where there's no more catalysts after this. Like we have a world of ETF catalysts coming from other athletes named ETH. You have the halving coming up for for Bitcoin.
You have the whole Salana build out with with stuff like Fire dancer. You have umm you have a bucket, I guess a bunch of like RWA deep in sort of stuff which is like helium going nuts right now. Umm like there's a lot of different things that are starting to pick up. I would, I would argue the utility based stuff has yet to like fully get to scale. But in terms of like the halving fire dancer, the ETH upgrade slash ETFs, those are those are decent ones. Like this isn't just like, Oh my
God, that's done. Yeah, yeah, alright, well, that's good. Listen, we'll find out more later. Let's talk NFT's. Alright, let's, let's, let's get into NFT. We owe it to the people. Alright, for what it's worth by the way, shout out to Benny for coming on yesterday because a lot of people seem to think that Ovi's back. I mean we're we got a message from BL8 saying Polo stuff is back. We got another message and look I'm not making this up. I'm putting on the screen.
Look at this. We got NFT Bros saying OF tuning bullish today and so a lot of a lot of a lot of people are I was I. Was never bearish. I was just painted as. Before, Ohh, sorry, you were not bad cautious. I'm always cautious. You can never be too complacent on any in any aspects in life. And for what it's worth, you're absolutely right. However, you know, you know, there are other times where we can be cautious, but that's just me. When it gets, when it gets Max green, that's where you.
Want to be a bit more Porsche? 88 you said Gary Gensler is about the rocket. That's that's. That's that was. I didn't know what to say. Woke up in the middle. Of the flat people is that. You know what's crazy is that we literally like we're talking and then you said goodnight and then you came back two hours later 85 and you even tweeted you're going to bed and like 3 hours and you and he was like 10:00 PM for me.
That was so late for you and and it's just like it was hilarious, you know like Oh my God that was and F Alright, you wanna start? You don't actually. Sorry let me not go here. Let me actually start on DJ's at my fact. So let's start, you know let's start with let's start with earth and the theorem ecosystem will come to us. Now we have to compete BTC soul. Alright so one one thing I saw
is this tiara was stolen. You know when there's that meme of like NFT that sold for free, but you know it was paid like 20 K for I have to say a tiara sale for 75 ETH, right. I think during the show, like before the show started, I have to say was a. Little bit lower, he kind of teased in general have been drifting a little bit lower. Even the Azuki pump on the back of the of the token Azuki went above 7 and now it's back below 6.
The vast majority of that has been has been dumped huge dumps on blur of of like Azuki assets but that's been across the board. You're still seeing, you're still seeing very high volumes. So like if you can see on degens even like a theorem volumes up just like much higher Bitcoin and Solana right now. At least for just just for anti collections of course and but most things have gone lower. Pudgy Penguins are still like rock solid at 10 1/2, but what
apps are down 23? I know, but did you see what happened though with the with the farmer that removed all? His things, what I mean like it's that's I think that's more a symptom rather than like A cause. Like things are just heading lower and people are starting to take a little bit less risk. So Suzuki mutants bought apes. Even the gods like everything that had like 3 pumps has kind of come back down. Even crypto punks down at 53 which is down 5%. Like normally, crypto punks do
not move. Well, actually, what's it in U.S. dollars? Sorry, let me see. Because that's all this. Is what I mean in dollar terms I think it's going higher has meant that they've gone they've they've slightly, but this feels a bit more than that. I don't know if you agree, but this feels a bit like it just feels a little bit, I know, tapped. Out. There's so much going on, right? Like I saw, I saw Crypto Dog tweet out that like Pudgy Penguins gonna lead the NFT psych this cycle.
And my response was like Pudgy is positioned to be the leader of this cycle for like NFT's and definitely for NFT's, right? But now it's different because more competitive because you have ordinals and yes Solana ecosystem and like you have for example like Mad Lads on on Solana that's a direct competitor. It's not sorry, it's not competing in terms of science, sorry it's not a direct
competitor. I'm taking it back it's, it's, it's in terms of like the floor price, it's still competing in four price, right. Let's put it that way. But you know, obviously aware that there are they operate completely different businesses here. But you know you have something like that you also have ordinals a lot of these like you saw no monkeys recently go to like a .25. You know BTC of course is lower right now but still like .25 BTC is a lot of money, right.
It's like. 12 Yeah, we can get into the differences. But yeah, I'm just just ET right now. It does like that, yeah. Yeah, they are losing some of the some of the shine, but like 2 pudgies equals one board 8. That's kind of crazy, right? 21 is crazy, but are you surprised? Are you? Surprised. Pudgy Penguins used to be what? Yeah. Yeah, like a 20th of a bored ape at one stage, right? Probably.
More if you look from the point where coal still had the project that Portal 2 and what born apes were. I'm curious if someone in the audience could tell me what's the what price was a board ape when Penguins Pico Smeco cement rock solid bottomed? Like I'm actually curious about it's it means nothing for us with the stats it means nothing. I'm just curious to see what the.
Obviously, obviously boats have had different air drops in that period but like 2 to one ratio is wild given given I don't know what's been happening, well the history of like the board apes, but now yeah, like would you prefer to have a pudgy Penguin or a board app is your profile picture. I mean. Let's just leave that question answered, I think for for. Could call.
For ordinals it has been it has been decent volume like what we do indeed is now we like remove the BRC 20 so it it's seeing. That helps. Exactly which kind of mocks some of the details of the other sides. But Bitcoin poppets has been the main one which are just like, I know we I fucking love these things.
They I like that the communities has got behind them but yeah they're up the reacts in the last week nought point nought 3 roughly area but the rest like no monkeys, has dipped below nought .2. They got me flipped by the frogs they obviously had, but they've seen a lot of rare sales. Still in in No Monkeys volume. Here is what I'm looking at. Like the Bitcoin poppets and No Monkeys are dominating volumes for a long time. By a lot. By a lot. Yeah, and for a long time, that
was just the frogs, right? Like it was it was frogs and it was bitmap. But now it's it's really just Bitcoin purpose and no. Money no equals $47,000 too now. Like people need to keep that in mind when you look at these volumes. Like. 4K yesterday like it's we had got a we printed at 3 three and a half $1000 candle yesterday and still these things were were trading.
It's kind of wild when you think about the world of ordinals and beware of of catching a a a pump on Bitcoin because you're you're the denominator just so you all know. So fun fact the other night when I bought my first puppet on FaceTime I was like so excited about buying a puppy because it just looked hilarious. Vanessa saw them like babe, you that's my signature. Like do you like these First reaction .1 millisecond answer babe.
These are so cool. Gonna have one comes behind my computer cause she loves picking NFT's with me. And she goes and she goes um ohh wow it's just .01 and I'm like ha ha ha ha ha baby .01 orange coin. How many chairs do you sit on? Baby, how many chairs do you sit on anyways? What do you guys take care of of this Is this gonna be like something like Kirsty. Your thoughts mean Ovi. Like what do you what do you think? Like right now we're looking at
this ecosystem. We've been covering it since the inception, right. We had Casey on day one when it first came out we had the Bitcoin Matt. Guys we've had only multiple times over again on Friday we have big guard on stage. So I'll go to you in a second. But watching from the outside Ovia someone who's launched successful NFT collection on earth, right for last two years, Red guy, you guys have been like you crushing it like what do you what do you see here in ordinals?
Yeah, I think it's it's they've been around for about a year now and I think they've had moments of gaining like popularity and then they got quiet again. But it does feel like they're here to stay. And there's you know what you need for people to more people to come into like an asset classes like the existing people making tonnes of money on it basically. I think that's what's been happening. People made a tonne of money on
like, no monkeys. People making money on puppets now actually looked at like the price changes today. And every Ethan of tea was like down two or three percent. Every slave she was like also down like 1015% apart from mad lads. And you go and look at the ordinance page on on Djene's website and everything's up like 50. Sixty 70%. So I think that causes more interest to to get in and I think obviously like the UI is the UX is like very clunky and I think that's a complaint of people.
But you know once when did like crypto native people really even care about that, right? Most people have gone through the effort of like get setting up a wallet, having a Ledger, like transferring money from a sex, all that stuff like it's already paying for. And I think people are generally willing to go through that pain to get stuff done. So yeah, like, I think I think I'm constructive on it. I think I'm more constructive than I was maybe we spoke about
few weeks ago. I still don't think there's any like good projects on it really like that interesting from like a art or culture. But I think Bitcoin Pup is probably the first one was Ohh that's actually pretty cool. Like I like, I like that, but very funny. You know, there's something like Ovi hates our. But it's just someone like someone like ohh loads of ordinal pants got swept, was like great, like a fucking
derivative of crypto punks. Just like trading up on like that's that's the sort of thing that will turn, that will turn people off people like myself and possibly other. Yeah, No. Monkeys No Monkeys was the first one where it felt like original if you actually saw Solana did their own thing, which is how topping the Solana. Charts when your credit right. The the frogs. Gay. Gotta give him some credit, right? Like they?
Were all OK so these are these are what we're saying is 100% true but you're starting to see some more original stuff come out to see original Gen art start to get big on on Bitcoin models a bunch of different things including like the golden golden ratio that's that's done very very well recently. So it feels as though original stuff and well that really needs it's just like creatives to move on to that onto that chain and that is beginning to happen so. So you're if you're staff, it's
not just. Like your goal, if your goal as an Ordinal spokesperson is like, I want to get the biggest collectors in Wales into ordinals right now, the best collection of people who probably own crypto punks and art blocks and that kind of stuff. So it's like you're like, hey, yeah, hey man, like, I know you own like an alien park, but you wanna come by like an Ordinal park. Like to fuck off, right? That's always how it starts, right? Like Solana was the same. Remember this?
Yeah, nice. Say, hey, like, do you wanna buy like this? If there's if there's more original stuff on there, I think that's what we'll try that. That also does well. I think that's what will drive people. I haven't up until now. I just hadn't really seen it. And I think, like, I think no, monkeys look cool, but they're not. Final stop. Hold on, hold on first of all. Ohh. Ohh here it is. Ohh hi. Benny, hey, Rick, Cash is project, it's. A small collection, right?
It's not a big 10K collection. Of cash, correct. It's not a 10K collection, it's it's a small art collection. I do agree with you that they need to be more original. I do think back that the best project has come out that hasn't really sold much yet is is shrooms because I think it was original artwork under 1000 K's inscriptions. So to me like that's that I do agree that we want originality here, right. So and the puppets are are
something that's new. So like I don't disagree with you on that but like there's definitely a lot of ways to look at this. Like there's people who look at the sub 10,000 to be important. So it's not about what even the art is, but the inscription number. Also because I believe that they're working on like that you could do things with inside the inscriptions so the lower number you have the better and things like that.
But I would say that there is original artwork that has been out there like between Rip caches swarms and Shrug Toshi and stuff like that. I I would say that the hoops that you have to jump to get to do it makes me more bullish on it on the fact that like it's harder to get done. Like when you had to get a I remember when getting a moon cat was like the most ridiculous way like it wasn't easy to get a moon cat right. It was the same way like would
you have buy BTC in 2013? It wasn't just like, Oh yeah, I'm gonna go buy, ETC. It was like it was a process. So all of those things to make to make it harder, I think actually is bullish. But I wanna let one thing that's very important, OK. What's up, Ben? You Ether. Keeps asking for utility, utility, utility, utility. Finally this, this, this comes along Bitcoin puppets and they offer World Peace, World Peace. They are actually giving a real utility and everybody and
everybody's feeding it this. We finally have utility, I don't think. It's being faded. I don't think anything faded right. This is World Peace. Like what else can you ask for with what's going on? The tunnels being built in Israel and the tunnel. Imperfect. OK, let's take you to bed, pops. Let's, let's. We need to have World Peace everywhere in New York, in the Middle East, and that's where puppets are gonna do. We do need to accept that. I I mean.
We get your favourite puppet because I've seen some good ones. There's some great ones you saw the one that saw yesterday for .85 BTC. I I have some of my own favourites. I have a I have a Bitcoin. I have one that has like a ketamine shirt with a Bitcoin staff. I bought this one. This is the DK money like I literally bought. Look at the state of that. Like my my favourite one is that there's also a smaller project this guy did called called Opium and I bought one of those and
mine, this guy, this pot. This puppet holds a QR code up and if you scan the QR code it takes you to another ordinal that all it is is somebody inscribed a fart sound on on Bitcoin. Don't think you get yeah. OK. Wait, I'll post it up here. Big guy. What do you think of that?
I love it, man. I mean Opium was one of the first ever collections I minted on originals back in March and I remember everyone going crazy and in that Discord trying to sell that stuff OTC and continuing to post that far over over and over for OK, if you get it would be funny to for you to play it. That's great. OK, well look, this is like, you know, Bitcoin. Some people see Bitcoin as the future of like, decentralised
finance. Some people just describe fart sounds with the amazing art of the puppeteer Foo on on blockchain. There you go. That's the kind of their answer on like what's the best Bitcoin beta is like there's two sides of the curve. You know one thing, whatever. The right girl. I love that I. You know, Feroke, I think I saw, I saw Obie's tweet on this earlier.
I I think it's a really interesting question that I was asking sort of yesterday as well as like you know usually we see post run up of of Bitcoin a pretty sort of simple prediction that some of that money will flow into to all. I don't think it's as simple this next cycle.
I think what you're starting to see really on you know at least the the coincide is you know Bitcoin runs up you're still putting your money back into the Bitcoin ecosystem which I think is still it's still being faded to I think a a really
interesting degree. I think people don't even really know how I think large now Bitcoin as an ecosystem is not just with Jpegs but but of course the PC 20s but but even more so like you have bitmaps now that are probably around 2 to $300 million market cap you have. You know you have rare sats that are probably at like a 5 to $6
billion market cap right. You like pizza sats alone or or probably 1 to $2 billion and like there's not, you know, I don't think, I don't think D gens is tracking found. The crypto slams is tracking a lot of this stuff. And so does it for NFT. They're doing alright. I think, like, that's what I'm saying is like I think that there's multiple, you know, little subcultures or ecosystems on Bitcoin now that are behemoths, but no one knows about them. You could go ahead.
Yeah, I was gonna say my only concern with that big God is this when ether realised, the whales decided that and realised that if they pumped more ether into their ecosystem that they'll either ether will be more valuable. Right. So that's why they created, you know, first they did. I CON MP's and defied all that. Right, So Bitcoin, I get the idea now it's like, OK, let's create a better ecosystem that has more value into it.
So when it's worth 345 trillion dollars, we could look back and say, well, 2 trillion. The market, the the ecosystem is already worth 2 trillion. My only concern to be very honest is that ether had their whales back This right. If you don't, if right now I'm looking at all of these originals that are trading, it feels like this is a lot of ether people from ether, NFT's and soul that are kind of going over to Bitcoin. I haven't. Yeah, I think, I think the majority.
Of Ohh yeah. I think the majority of of honestly this, this run so far, Red Beard I think is not really Western LED or sort of ether lead or sole lead. I think it's Chinese or sort of Asian. Sinese. Ohh yeah I think it's. Just buying it, you know, Age is buying. I keep hearing this. But even if that even if that's the case, then don't. I'm not saying that's not the case. But what what happened in ether with NFT is to really make it explode, right.
I don't disagree with you is the bigger whales bought stuff for like $6 million for $1,000,000. When I see Michael Saylor who's not against us, I know now turn around and say he buys a shroom or or a known monkey for like $4 million, then I think you're talking about how you're really going to create a lot of fervour in this market right now. It doesn't.
I just don't. It doesn't feel as I feel like there's a lot of big the people involved but it wasn't you don't have, you don't have the whales and to me the whales and Bitcoin are probably like 10X the whales in ether. Yeah, of course. And you and you and you need and you need those people to like to like, buy into this and show it.
Like when when when bored apes were selling, I mean, you know, Mandarin could tell you, but there was like 40 selling for millions of dollars or or buying the stupid, you know, like the green stuff, whatever. Or you know, these guys are spending so much money that those large buys pumped the rest of the market up. So I I I know where I know we're early and I'm not saying that that that won't happen.
You see that in in the sales that have happened on, you know, you go to early inscription numbers with I think the highest sales so far has been like almost 11 Bitcoin on inscription #8. And then of course to the node monks, you're seeing, you know, over three Bitcoin, right. Or have you seen I think 2:00 to 3:00 Bitcoin on on certain sort of, you know, aliens for that? Yeah. So, and that's without with the, without sort of maxi support, right? Agreed, but you want Max's
support. Yeah, I mean, look, it's gonna happen. We'll see if it happens. We'll see. See if it doesn't happen, you know, mind O you guys think there's gonna get support from the from the from? The beginning, basically 100 percent, 100%, you're gonna see, you're gonna see big people start to move into here. Like all it needs to bring it together. Like what Obi said is right. Like we're starting to see more and more culture happen because more and more creators are moving.
You're starting to capture the imagination of like the broader community, like with some of these collections. No, monkeys I think was the first, like really do that this year. And then you started to see a bit more of that happen. I think as soon as that happens, people start to value culture at crazy levels, like they then they become Veblen goods and you could see crazy high sales.
So like, I'm not going to put a lid on where some of these things go. We said that, said that before and that will just draw in wealthy people who want to, I think. So other bees are doing like a windmill sale already, Like, well, they. Are. I mean they they saw the shrooms there already for for quite a lot. Like Johanas. Bohanan's working, bro. Devil works hard. But Michael Bohanna Sotheby's works harder. Let me tell you that he's grand.
He's grinding all chains, bro. You know, I mean, I love. I love to see that honestly. You know over you strike me as someone and then I just saw the time. I'm gonna end the show here. But you strike me as someone who would buy, like a rare sat. And I mean that in a great way, by the way. Like you, you strike me as the guy to look into like like an inscription number. Like fucking crazy, like mint inscribed on satoshis. Like, I don't know. That's kind of, you know, you
got autographs. You got, you know, I mean, I'm in a good way. It's a compliment. Yeah, I do. I do. I think that stuff is interesting for sure. I would agree with that. You know I I. Personally think. Really crazy. Call me crazy. We should talk about this more like we should go next season talk more specifically that's
what the people want. But like when you tell me that like a sub 1000 subscriptions or something like if that's what like the thesis that's they're trying to validate on there half a beat the .7 up to one bit Bitcoin. I could take a risk. I don't have any but when I look at that but then like if the thing of it is gonna suck like first thousand, there's a lot of people say 10,000 cause of Ethan if he's cryptos and stuff that culture. But think sub 1000 would be the one I try.
What do you think? It's going to be something good on Sub 1000, right? You can't just pick some random ship, someone inscribed, in my opinion. I mean, we should think toilet paper roll that was running around. That was glorious. Like, that gift was crazy. Two elements that make an NFT or a piece of art or anything really very valuable. One is having historical value and the other is having cultural value. And I think only having one of them doesn't get you to crazy heights.
So like just because it's sub 1000, but it's just like a piece of shit. Not even a piece of shit. Something a bit better than a piece of shit piece of shit could be. Quite matarazzo sexy dance, but a head butt in two. 1000, Something like that. Like, unless someone was able to really meme that and make it funny and make it very cultural, it's not gonna be that valuable compared to something where it's like ohh wow.
Like for example if someone like puts a pixelated board ape as one of the sub 1000 things, right? Like that's not really, you can't pitch that to quite well, yeah. Inscription #232 BTC. Yeah, that's cool like that. I reckon that's probably worth a lot. 32 Bitcoin and I think once it received and they like half of that in in a. Bit see what's interesting though is like it to some degree is it does matter what is is
inscribed at that level. But also you could take it even further like if you end up owning inscription #2 for whatever price you can then re inscribe whatever you want on that on that sort of same set as well as as you know that could be the parent to your collection.
So like maybe if you do buy inscription #2, which I think is the parent or the parent, yes, you know, maybe you do a whole parrot collection and I think that maybe people value or end up valuing that because the parent is isn't doing. Maybe you can give away that #2 inscription to one of the lucky holders. I don't know. I I think that there's a lot more value in it than than you know, than just the number as well.
Yeah. I I do agree with Ovie, though that sorry OF that, I do think the art will make a difference. I think it's going to be a mix of both. Now, I'm not saying that someone cares and sometime kids will run. I think that just because the nature of how we're all degenerate mocks here that it will. But I think that for what Ovie's talking about long term and like having that real value to it, I
think that the art matters. That's why, again, I like if you asked me if I'd rather have a shroom or Iraq, it's not even a question to me. Shrews are created, the arts new, it's fresh. It's ever been done before. You know, I have a moon burden description like under 4000 it's just a copy of a moonbird. Like, yeah, I mean like I I agree with that. Be like I can't see how that is exciting. But, you know, I, I. But I do think the bottom line is that just don't.
And I keep saying this, just don't fade this. That's all I'm saying. Like don't, don't, don't be in a situation where you're just like hating on something and then not not like taking taking the time to understand it. Just like dive deep, like there's artists that are doing this. I know that there's plenty of artists that are coming out with stuff that are that are doing this the right way and they're using utilising the Bitcoin narrative and chain to make this even cooler.
So that's that's the most important thing. And last thing is puppets bring World Peace again. There's nothing more important right now that we need than World Peace. I love that. And you know, you're absolutely right with that. You know what? That is a great way to end here because we did well over time, You know, pray for World Peace.
Pray for, you know, the ETS to finally get approved so we can stop, you know, going back and forth on it and ping pong and see, you know, Bitcoin wobbling in the words of the Great Mando around this. And with that, with that, with that, we'll see you tomorrow morning, 10:30 AM Eastern Standard Time, 7:30 AM Pacific Standard Time for another episode of formal hour on Rock Radio. Let's go.