Yo-yo yo, what up? What up? Good morning, Good morning GMG. What day is it? OB? Oh, there it is. Thursday Thursday OB Reminds me of my days. Thursday March 7th 2024444. Look at that. Another beautiful day to have a beautiful day. Whoa. I like the studio right now. It's got me amped up. It's got me. Oh, I got my coast in this house. OSF Mandel. And last second special guest Raul Pal Ovi Mandel. Raul. How are y'all doing this morning? Good morning. Outstanding.
I mean, how can you match that energy, right? He comes in like that every single day like that's it's the. Two cynical Brits acquire thinking, Oh my God. It's not even just a bull market. Thing, bull market, fair market. We bring in that energy we out here, you know, same intro. Look, we got a dream team on stage right now for everybody. We're about to post a broadcast link. It is live, We're live on YouTube. We're live on video, on X and
everywhere and here. And while we're at it, if you retweet the Twitter spaces, then we'll just pick someone and give him 250 bucks. Why not? You know why not? We we give money away every day. Raul on the show. So you know, Mando gave away like $7000 last week to to Amando Minutes subscriber and we've been doing Luke Box spin. So we're we're, we're everything. Amando minutes every day, just so you know. I like that. I like that the best. The Fastest growing news later
in crypto? You can sing for one to two subscribers. It's 100%, right? It's just us three. One of you unsubscribes every other day. Exactly. It's it's just the three of us, you know in and out of it. But anyway, so listen, today on the show, you know obviously we're going to go through the usual market report and whatnot like we do every single day, yada, yada, yada. But you know we do have Raul for the first half an hour or so.
It's going to be a very interesting market conversation because Raul, you know I've been reading you, we've been reading you and mentioned you on the show a lot. You know you've been, you've been, you know we've been you, we've been talking up the same bags. We love our Solana and it looks like the FDX estate is slowing
down a little bit this morning. Finally, finally the gods have listened to my prayers and and it looks like this overhang could could I, I don't want to call it a bit over yet but could be behind us. So anyways let me post the the
the stream link and broadcast. But in the meantime, I mean Mando why don't we go to you first to kick off the market segment and then when we have a good chat with Raul here on all things market, I'd love to hear where you stand on the market now Raul. And of course, I want to get more into your Solana thesis because we've mentioned it quite a bit on the show thus far. Yeah, GM, everyone. So it does feel as though Solana has taken over in the last 24
hours. Obviously on the on the bounce back from that big Wick, Ethereum is outperforming for for a while and then kind of this morning slash going into this afternoon we start to see Solana move. The main piece of news that seems to have come out is that the FTX estate has been selling looking to sell a staked portion of its Solana as part of its bankruptcy proceedings.
Pantera, which is probably one of the the best known and oldest VC firms in crypto, is now raising $250 million via an SPV to buy that Solana. This story had kind of been talked about for the last week or so. People have been talking about that as being the reason why Solana had been underperforming. So like I think people in the know knew about this. Pantera have definitely gone broad with with trying to raise for this SPV.
That being said like now that it's gone a bit more public you start to see Solana, I know it's I'd be a bit more bullish people think it could that overhang could now clear it's not like
completely bullish news. Obviously you know ABC firm buying your bags probably down with a heavy discount anecdotally hearing like 40 to 50% and then them being the one selling it to you rather than Alameda back in the day or or Sam like it's it's not amazing but it's also it makes a lot more sense now about the underperformance and if this if this clears I do think that there's probably been some playing around with the Solana price into this to make sure it
kept it stayed depressed so they could buy as low as possible and then now who knows after it clears you can sometimes see
this stuff fly. So Salama's been the main out performer yesterday was a bit of an altcoin day right most altcoins not mean coins so it was all all the coins mainly in the AI sector a bunch of there was near and render we suppose said they're going to be talking at the NVIDIA conference FET which is fetch AI got $100 million investment for its infrastructure fund and that's that is the sword.
But if you bring up a fetch yard it it literally looks like a meme coin that was trading at like nought .5 just a few weeks ago and now it's trading at nearly three. So AI had a very, very big day yesterday as did a bunch of different, just different coins in the in the L1 space and then the D5 space just kind of caught up with what we've seen in meme coins, Bitcoin ETH and today it feels like Solana Jupiter just hit an all time high. Obviously that had been a
painful one for a lot of people. They are going through their LFG AirDrop first votes this time. So you're going to see which coins are going to be dropping on the Jupiter launchpad. So people are getting bullish on that unit swap hit an all time high. Obviously there's some they're they're doing their fee change. So that's been a big move and kind of feels like a lot of the activity in meme coins has moved back to Unchained. So like a lot of the top meme
coins were down. That started to reverse slightly over the last hour or two, but you started to see things around the elections. So the Bowden meme, which sort of from the like Dolan comics has has become big. A bunch of those started to move back. MOG obviously hit an all time high. Basically anything that hasn't been listed is now.
People are now starting to play as a view that perhaps these big exchanges start to list more meme coins after we've seen you know three or four or five listed over the last couple of months. So definitely feels like the focus moving back to kind of on chain with meme coins. Solana taking the is is the big big mover today in in majors and then for to be honest like 4 altcoins today you can play Solana like daps. So Jupiter might be interesting.
I still think that Solana looks cheap versus it's daps right? Like Jupiter trades at 8 billion FTV and Solana trades at like 50 current and 65 ish FTV. So like that that's kind of high in my view. So I still think I prefer Solana rather than it's like Solana beta but who knows. Let's see how this this financing goes over the next few days slash weeks. If that clears, I do think Solana could head a decent amount higher Bitcoin. People are saying it could be range bound for a bit.
This is why people have been talking about the fact that could be altcoin season. We could be kind of ranging between 60, 63 to 68 K for a little bit. Everyone too scared to touch that 69 K with that, with that guy. Yeah, right. May everyone So we're having a little bit of an altcoin season. NF TS have been dull to to a large extent. There was a huge AirDrop, actually were wormholes doing an AirDrop for most things in the salon ecosystem. So I think D gods got a 30 K dollar AirDrop.
Mad Lads got a 30 K dollar AirDrop. Utes. Got a 15 K dollar AirDrop out of nowhere? So that's the big thing. Too. It's pretty interesting the way they're doing the AirDrop, by the way. It's like you. Have another and then you. Have a your vesting depending on your NFT as well. But that's that's part of part of that is also why Saul has become very active again, like this AirDrop story which had which had gone quiet for a little bit.
I think Santi put out a good tweet if you go to his, if you go out to his profile. But now this is a long list of things that are going to be back in focus again. So if this does, if this supply does clear like we could be in a situation where we have about 5 or 6 near term air drops on Solana. And as I've just said like some of the FT VS are way higher versus like the Solana chain. So you can get like $1,000,000 air drops.
Worm wormhole I think is going to be about 3 or 4 billion I think I saw, but it's going to be Kamino, which is the next one they they've teased it could be coming today or at least details around it today. And then you got like margin 5 a bunch of different ones. So like it's going to be, it's going to be an interesting season here potentially. So I saw, I saw some some headline this morning and and I definitely want to chat with you about this Raul here while we
have you. So was Pantera raising funds to buy big Solana Holding by? The way also breven I've I've got some insights into this. So how they're both doing it is they're opening a book, it's an SPV and you get locked up. So you get whatever the 40 something percent discount, 45% discount, you get locked up for a few years. So there's no extra supply coming onto the market. And so it's actually net positive.
I don't know how well they've built their books yet, how much they've taken on themselves, etcetera, but you know, they were aiming to clear $4 billion of this stuff. I don't know how much they'll clear. We'll see. So what's what's your what's your read on the market right now Raul. Curiosity here obviously where you stand. We know you're a big ETH bull always big salon bowl that. We've been you've been tweeting we. We are in. We're in Crypto Summer.
We just started Crypto Summer. Crypto Summer is up only. Yes, you get the 30% pull backs that happen in your face in minutes, but that's Crypto Summer. This whole year should be Crypto Summer. Yeah, we're all debating whether we get a left translated cycle or or a or a bubble cycle that goes on further than we imagined. We none of us know that yet, but you know we're at the sweet spot. Global liquidity is picking up, should continue going forwards.
Business cycles should pick up. So this is the time, this is the great time and this is the time when ETH outperforms Bitcoin, Solana outperforms ETH. A bunch of alts will outperform Solana. So you know it's obviously it's, it is the great opportunity, it's the kind of the big trade is now on. OK. I mean what do you what do you when you say like you know you think Slaw's going to outperform ether.
Do you do you think like that's given also like the whole like ETF narrative And how do you feel about like the the price of eats given like ETFs are probably coming like in May? So all financial markets work the same way. You put capital in and it's coming into Bitcoin. It then flows into the least, the less liquid assets and they rise more right? It's just all markets work the same way. So it comes into Bitcoin, it pushes up the other assets. So the next phase is obviously
the ETH ETF. ETH is really an interesting dynamic because the more ETH you buy the less the the more the supply is reduced with about 28% locked up in in bloody staking. I mean there's it's going to get quite a disruled disruling market. It's just going to be, it's going to be very price gappy to the upside and probably the downside. So that's going to get fun. Solana has been like the main adoption horse because it's going up the adoption curve. So it tends to outperform.
So I just think you just have that perfect risk curve where Bitcoin starts to cycle. Well, Ethan starts to outperform. If you look at the ETH Bitcoin chart it's basing, it looks like it should start to break higher over time and that that's pretty much what happened. When was it about September 2020? No, it was like summer 2020. We saw the same kind of thing. So we should see that continue. And then Solana, if I look at the Solana ETH chart, it's about to break higher again.
It's like this perfect little flag pattern should keep going. So it it looks as is and as I've kind of thought all the way through, I think nothing changes.
Would you would you put because we were doing this today this me and Ovi this morning on risk rewards sort of trades like where where where do you think someone could go this cycle like what what is your price sort of target here Because I we were looking at now and saying old coin season is interesting but I always feel it's a little bit dangerous because a lot of the coins that pump they really have no users or sometimes even use
case Solana does feel different this cycle because it's not just vapourware like it's not just an expectation of people coming on people are actually here it has the most number of wallets. It has basically equal share to ETH now and D5 volume, highest number of NFT trading I think at least in terms of wallets for sure. But yeah, like, what do you think there? Do you think that's like a different altcoin essentially is what I'm saying? So I think Solana is ETH of the last cycle, right?
This is a proper blockchain that's getting full adoption, so this is a real thing. Fire dance is the kicker. So we've got some real stuff happening here. So in terms of price targets, I mean, who the hell knows? But if we kind of replicate what ETH did last cycle, that was a 45X from the low, so you get somewhere like about $500,500. If I look at the other charts, I get somewhere between 500 and 1000 and it just depends on the structure of this market.
If we get a bubble cycle, it'll go to 1000. If we get some sort of left translated, it gets to 500. It's it's something like that, you know as we all know here, you know price targets are are pretty useless but because you need to see the structure and nature of the market when it happens. So it's all well and good us having an idea now but we'll feel it and know it when it's happening and I'm still trying to figure out I'd love to hear your guys views. So here here's my odds.
My odds is 60%. This is kind of a normal cycle. I would say the last cycle we had wasn't it was stunted, the last leg was stunted. We should have had another leg higher we didn't get it. 2017 was was probably more of a normal crypto cycles like 2013. They get quite blow off the top At the end there's a full bubble cycle that could be kind of La La land which I would give 20%. I give 60% to a normal cycle and 20% to a left translated cycle. That's kind of where my odds are
right now. How are you? How are you guys thinking about it? I've I've been less I've been more wary about this cycle because it doesn't feel like we've seen the same levels of participation that we had in previous cycles yet. Like we've started to see Coinbase go up the the app at list like number of wallets. I mean D5 TBL just passed 200 a 100 million, but like we're still we're still only like 40% in terms of actual like people here down where we were.
COVID. We've got to remember that, right? So, so it's kind of it's interesting to me here like do we follow through and we actually start to see the users, do we even need them this time. Like it feels as though like you said it's really just an it's more about capital in and Bitcoin. It doesn't necessarily translate to number of users, number of adoption like people buying a Bitcoin ETF doesn't necessarily mean we're going to have a ton of people on chain trading
trading everything else. So maybe it does feel slightly different than the other cycle. I would like to think that this isn't just a cycle, That's basically what I'm I'm getting at here. I would like to. Think this more. Actual adoption, like we haven't. I don't want this to just be like we have thousands and thousands of people coming on here for the next six months and it never really happened.
I would like to see a slow increase now in acceptance of blockchain, an actual use case of it, which means that this doesn't just feel like a bubble. I don't want to see a blow off top bubble. I would rather see kind of right. We start to see the RWA narrative maybe pushed through after the election. We start to see some of these games actually have use cases. Some of these AI, you know coins actually have use case.
I I think that's maybe a bit distant way if if that happens like if we do get better regulation on the RWA side and we do start to see maybe one game, just one really like get you know millions. Of. Uses then. Then I would be more bullish on the idea. This could be blow off top like like you've never seen before. But for now, like even on the even on the meme coins I'm seeing right, like with has got 60,000 holders in the past cycle that would have got hundreds of
thousands. But is it that we are really? Early, Yeah, maybe we're just early. We maybe just be early, but if this is going to be sustained to get, I mean like COVID. Lockdowns hadn't happened yet. Yeah, yeah. I guess that's the point I'm trying to make in terms of answering the question is, is that we need to need to need to get that blow off top. I do still think we need more users than we have right now. It feels a little bit like we're swapping bags on the way up
still. And. And that that maybe could we can sustain it, but I do think it would be it would be good to see like a slow rise in users now you know. That's my fear of this left translated cycle is we we kind of mean coin it so much to the moon that the whole thing collapses under its own weight before we actually get the app layer fired up and people are actually doing stuff. That's that's the one fear that we over hype it. Right, exactly. OV what do you think, I? I think we won't know.
I I guess Ryle's point, Michael's point is that we don't have as much participation as we did in the previous cycle. Ryle's point is it's still early and I think we won't really know the answer to that until we've gone above all time highs on Bitcoin and and held that level. Because I think that's usually the catalyst in the moment when it gets reported in the mainstream media, bitcoins, bitcoins at all time highs and
it gets new highs. And that's when like the average per the average sideline person when something when they see the chart and they're like, oh, it's just almost at the all time high, they don't usually buy it. But if they see the chart and it's 20% above or 10% above all time highs, they're like, OK, I get it. It's true that it's going higher and I think that's when you start to get really get like the influx of retail and new users. And we just haven't got to that
point yet. How many messages have you got? I mean, I've got. A ton. A ton. Oh, I've got 3-4 so far from friends. Like, what should I do ex bosses? Like, you know, how much Solana should I buy? You know what? I still don't have that many yet. I have I. Have a few, but I've had a few of people who are like, I'm not going to buy back in or like, oh, I can't believe you've told me to get that coin. They haven't yet. But. Back in, you know what I mean? It's.
Cousin from India, cousin from India. Trying to get a mum into it. My aunt, my 80 year old aunt. So that's that was a. Hilarious. Worrying sign? Do you sell like that? I haven't gone yet. I I. My boxing coach, my boxing coach showed me his. He just has Revolut. He showed me his portfolio and he bought a bunch of altcoins and they're all up about 500%. And he bought Pepe recently and he was like, look, I just, it has to just eat another zero. Then it's going to be a 10X.
So like, I think you you are. For me personally on my side, I'm like every day I'm seeing more and more people enter and more like I had another mate that just texted me as well saying like all my everyone I know at works buying ship and doge like like should I do this or or is this just silly Like I get what at least one of those texts every day now if not too interesting so pretty definitely on like at least on my side. It's anecdotal, but it's definitely like materially
picking up I think for. Me, I think you get you guys get more of these tests. You guys have a traditional finance background where like you know, a lot of traders and people that are like interested in like taking trades, making money. I'm more of the media background. Left curve background type of thing, right? And I always say it on the show. Like my difference around with the boys here is they're more
like track five of these guys. I haven't opened Instagram yet to see a bunch of stories about crypto. Like the people still posting on my Instagram about crypto are the same people that were posting at the Lowe's and now kind of running lapsing. I told you so I'm seeing a lot of those. I might see two people that are like trying to flex mean coin games, which are like vaporware, right? And nothing.
But I haven't really gotten interest yet and I don't think we get onto all time high for Bitcoin. Like, I don't think like I look at the market from a different perspective than the boys, Like I say from media perspective, like being at the helm of like rug reader and decrypt. I study decrypt, chart beat numbers. I look at the fact that we did 3,000,000 visits last month. I'm like, wow, we're going so much higher. That's nothing for media. That's and then you have real
vision, right? You're you guys are also one of the largest media outlets in crypto. What do you think of it from that standpoint? Like yesterday we shared the news that Arizona was about to offer it. Arizona State wants to offer it to people, the ETFs. Like what do you think from that standpoint then? I don't. Think we have not seen on the media side the rush? It's not happened yet. It's the same people still.
Yeah, I can see my Twitter numbers growing again because they were flat line for a long time, but they're still not growing fast. I mean I hit a million, I don't know four months ago and I'm, I'm at like 1,020,000. So we're not seeing a massive influx. So you're right. I mean look, there's some anecdotal evidence, yes, but we're not really seeing a mass participation and you know, but it is, it is early, it's early
in the cycle. We forget because look we were all quite lucky in getting this cycle quite right. So we feel like we've been in it all the way through. But don't forget, last cycle most of us were buying now. Or later. April, May and June last time. It was later I got in the same time as you guys, right? Like it was later like. Obviously the price is further this time, so it's different. So I don't know and let's just keep an open mind, I think. I think Michael's view is is is
also right. I I just don't think we know. So we just have to keep a very open mind, which is why I'm trying to use a probabilistic framework and just keep adjusting as we go all. Right guys, guys it's over we're we're hitting all. Time. Can you guys stop being chickens? Could you stop PTSD all you have? It's over. This is the beginning of the cycle. Don't you understand? This. Is so scared.
See, the problem is that OSF and Amanda are scared because they're about to be billionaires and they're like, well, how can I be a billionaire? So they're having impostor syndrome. And Raul's been calling for this forever. So he's like, I know I'm right, but I don't want to say it out loud because, like, just stop. Just accept it. It's this is the beginning. We're all going to make it. This is it.
Oh my God, yeah. Definitely we're going to make it. It's whether it's a 2X on Bitcoin or it's a 5X on Bitcoin, I think is. Is where it's going to be. It's going to be a multiple X Bitcoin is going to be adopted. We It's all happening. What? We do. The train left the station. That's it. It's over. I think Benny Benny's right. There is a lot of PTSD. I'm so careful in what I say These days. I would have a very different conversation with you guys off camera than on camera.
Yeah. Yeah, because I'm so cautious because people are, you know, the Internet is a pretty awful place. Yes. And so, yeah, we've all been through it, right. And so I think Benny's right. You know, actually every day is much more cautious. And we do have PTSD. Not more, not so much markets. It's PTSD from bloody Twitter. Yes, Sir. But you know what Raul? Like I man, I I always get called a bull tard. And like, I'm a permit bull. I was bullish at the lowest and
bullish at the highest. But like, again, like we haven't seen shit yet. Like if it's not even $4000 like. You've been right to be bullish because the market over time goes bottom left to top right. You know, in over the time horizon depends on what time horizon people are using, which is the other big problem. Everyone screws that up. Yeah, 100%. What do you think of of the whole like, meme coin cycle
going on right now? Like you like I'm seeing like obviously institutions buying up all the Bitcoin ETH, moving up with it because they're going to buy the ETH. Solana seems to be doing good all. Slagging. It's dumb as shit. And of course, I own some. What are your favorite? What are all Pals are you trying to? Get him cancelled. Are you trying? To get him like I feel like he just. Told you have to be careful and you're asking for his favorite.
What's your What's your favorite lowest market cap meme point, Preferably sub $1 million market cap like this. Is this is in the contract address? To send the contract address What? Sub quarter billion sub like above quarter billion dollars so that we're at night right above a billion of it. If you want like what do you like what? What do you what is there did you need in the back? My setup is I'm really 95% non, you know, just in my core
positions. And then 5% of silly stuff, of which I've got some stuff that's too small that I can talk about. And then I've got Whiff and I've got Bonk and I've got Doge. Yes, I've got the dogs, you know, because the dogs run first, you know, this is the perfect point for the dog cycle. So you do a bit of that for the fun of it, but I, you know, I'm not very good at this part of it because you always end up look back and you're too late into a cycle.
You look back, you got this shrapnel of useless shit. I mean, if I look back in my wallet last time around the the decentralized and sandbox and all of this stuff you get stuck with from narratives that you overstayed in, you know that's the issue is not overstaying in this stuff. Straight strangely again we were talking about it and I don't know we're, I'm talking about it quite frankly.
But I actually thought some of the best risk award right now wasn't some of the some of the meme coins like because I've actually seen some of the AI coins and the gaming coins and maybe even some of the other use case coins. I still think RWA could have a move and D5 could have a move if UNISWAP changes its fees. But they actually don't really have the users to sustain like 10s of billions of dollar market cap and most of them are already like 3 to 5 like some of the
some of the major ones. Whereas can I imagine Doge just just on the idea that it's a form of currency going from 20 to 40 billion, it went to like card in that last cycle ship could do similar. Like I personally think the risk reward, I'm not saying they're going to go higher but like I can see that and go is that really going to drop 50% here like maybe. But I don't. But some of this might well do, right, Doge? Yeah, stuff like that. No, it's it's it's tokenized
culture now. It's it's folklore, right. So I don't really have an issue with it. I tell you, who's been amazing at this stuff is handsome, whatever. I don't know who he is, that Twitter account. I mean, he doesn't. Exist. Is he real? I think he was on rec radio. No, He used to work for. Yeah, he used to work for churning, churning group. I mean what's his name ZI don't know what, but he he's nailed it and he's he understood it really clearly.
And you guys have done a good job with this as well. You were you guys were flagging this really early. And I think to the point, Michael is that it doesn't have value and that's the easiest part to understand.
If if we do actually get and again the users come back just to crypto, then I can imagine those going going high and I actually find some of the other old coins a little bit scary because sometimes it's just like I don't know what my downside is. Whereas I feel like with those I kind of know what my downside is. And people are forgetting that they are literally sending a rocket, a doge rocket into space. And it's happening. What, next month?
People are forgetting this. They've been doing that for didn't the last one like burn? Like it didn't reach the moon? I remember I read that like they sent one a few few weeks ago and it like failed to land on the moon and then doge. That wasn't the Doge one, was it? I think it was. There was some doge on it for sure. They they're always trying to
land a rocket on the moon. But yeah I I look I I those right now in this market I think you know with big one hitting all time highs you have to be a bit wary because stuff a lot of stuff has run up quite a lot but weirdly these these major memes like some of the low cap ones move but these major memes have only really started to move in the last week or two weeks right. Doge only has done a 2X right.
It was part of me thinks that that could move ship, could move similar like and then other memes could move and then it or like all the other use cases. But I still like those as a sector versus some of the others. And then I still like to like I still think the RWA. You're looking all the wrong way. What's up, Benny? When Bitcoin has a 5 trillion market cap by itself, OK, because that's what's going to
happen. All these other coins, when they have like 500 billion market caps or one trillion, we're just going to be like, OK, it's not going to be that shocking. There is no market cap. I love you. I mean, it is. Do you guys think that there is a world where the meme coin market cap reaches a trillion dollars? What? What is it now? Right now, I actually just don't even know it's. Way off. It must be like way. Off 54 billion, yeah. I mean, you'd have to see Doge basically.
No, I just it would be it would be pretty nuts. Doge Where It's a world. Where it's possible that Twitter uses Doge as a payments platform and then, look, it's possible, it's possible, but it's not something I would bound. Yeah, So here's a question, here's a question for everybody. What's the market cap of the space at the end of this cycle? That's a good question I. I think it's a similar question to where we think it's going to end up. My my base case is that we we we go to shy of 10.
So I think, I think Bitcoin roughly to 200 K 250 this cycle and kind of everything else. Following. So we're all about 10-10 trillion, right? Yeah, it's around 10, I think. Yeah, so. I'm, I'm at, they're either going to be. Spectacularly wrong one way or the other, right? It's gonna, I mean, even if you stop at 7, I'm happy, right? But but ten trillion is the seems to be a number. I mean, if we look. You see, this is the hard part.
People don't realise the hard part is actually the last part of the cycle. It's the hardest part. It's not buying the cycle, it's not running the cycle. It's the end. Because if it finishes early, you kind of get caught holding the bag. If it finishes normally and you've got PTSD, you end up selling a bit too early. That's not the worst thing if it
has a super cycle. I mean, I remember selling Bitcoin in 2017 at like 2 1/2 thousand, thinking I was great, went to 20,000 kind of 10X in the next 5 months and that's really difficult to deal with. That's a bit bad because I saw a tweet actually by Trader Maine which is like it's a bit, it's the Prater Princi principle in that 80% of the gains come in the last 20% of the of the market, right.
Like we we might see the vast majority of the gains now happen after we've broken at the highs like 80% of the gains. So like what what? I mean you had some famous tweets on Solana, like what what, what have you learnt this cycle versus last cycle and the ones that you did really well as well? Well, can I actually, I wanted to say world is actually 100% right and all being seriously, I've been, I actually been through it.
I think I've been through pretty much every cycle in since the beginning and this psychological fucking mindset that you have to have to sell right is so stressful. You know, I, I tweeted this, I said, you know, bull markets are exciting, but they are extremely stressful because they're euphoric. You get so into it. And then that moment that you know that you have to take some get like you know, gains off and you're not doing it because you keep constantly thinking it's going to go higher.
That is like literally the hardest part of this whole thing. And I know that sounds ridiculous because you're like, oh, you're making so much money, but the the emotional and psychological, you know? It's easier not selling. It's easier going through the downside. Right.
You just hold why not and and that that whole mindset of puddle and you know hold the door and and and wag me all those things feed into that and it becomes really it's really struggle like my my great my advice I keep giving everybody's like you need to take profits because if you don't you never will and that that really is and then you keep holding this bag.
So like the idea like you know I totally agree OV that we want this to be adoption but it's it's possible that adoption's still like 1012 years away right. So we so it we might need to like still be patient in this so we might go to 250 go back down to 80 while that still sounds amazing for us there's still time for it.
So I I I have to say like with what what Rule is saying is just to give everybody a heads up the the to get caught in that moment is just very very tough and I I I I felt it many times. What's your answer to that row? Where, where? Where do you stand them? So the last time I didn't sell
at all. And this time around, you know, I've been thinking this is I will just take some off for lifestyle chips probably at the end of this year just in time and not price just because there's some lifestyle chips I want to take off and then I'll run it and if it ends up being a bubble cycle, I'll take some more off. If it's a normal cycle, I'll just run it.
And the other thing, the other strategy I've got is and Benny's aware of this, I've been talking to him about this is like I now starting to think that the top of the entire investment pyramid is the Super high end Arts NFTS of the O GS and that's where you to put savings into. So you you just keep peeling off savings putting them into that. You know there's OV with a auto glyph behind him. You know it's. A guy behind you? Actually I was looking.
I saw the red guy. There it is, looking at the overalls, right hand, shoulder. Look at that beautiful red guy, I think. That's that's how I'm thinking for this. So I've actually been already buying NFTS because they're still cheap in cycle terms. So I've been buying some X copy and some B pull and stuff like that and then and then yeah, end of year I'll take some off regardless of price. Can I ask you about something? Or Amanda, do you want to touch? I was.
Just going to say that, I would just echo that like people would talk about DCA ING in. I think the best thing is the DCA out everyone the worst thing you can, you've timed the top and then it goes higher and higher and higher like best thing to do is right. I think we're in the top period here. Like let's say this period is going to last for a year, six months. Like if you start to feel like it really frothy, you know Coinbase is #1 on the App Store regularly.
Maybe you think like over the next three months, I'll sell a bit each day and then the stress is kind of gone. If it keeps going great, like you're just selling out a little bit and. By the way, the Coinbase app thing won't work this time around. Oh no. The reason? Because there's 108 million accounts and there's like 10 million actives. 12 million actives. You can't get another 100,000,200 million, right? You're unlikely to see the rate of growth, so you're going to
have to find people. People will just. Reactivate their existing accounts. Yeah, they did it last time. So we have to find a different measure. Unfortunately, if you can, you can get it in their in their quarterly statements, the number of active accounts. I think once that starts getting close to the, you know, above 50 million, you know you're you've
got a really frothy market. I I have the top signal if everybody wants it. When my mother-in-law asks me about crypto or NFTS, that and I and I tweet that you should all sell. But what I'm doing is so I told my wife that I can't. I can't actually talk to my mother-in-law, so I'm ignoring her until I feel like I'm getting close enough that I've made enough money in the market. And then? Just hang up. When she calls, just hang up. Exactly.
Another great signal is is sitting right in front of you guys whenever you hear me saying like absurd shit like last cycle at the top of NFT in November. All the time. Dude. Every. Single. Day. Like absurd level. It's meaning like I looked at Danny seed phrase in the eyes in November 2021 and I said there will never be a bear market for the rest of the world ever. And he went upstairs to his room and he sold it all and I bag
held it all down millions. I don't know what just happened to my camera but there's there's signals everywhere. But you know I do say absurd stuff because I do think like there's this is going to be an absurd cycle of it's the retail cycle. It's the redacted cycle. It's that cycle. Rel. I want to ask you something quickly on NFTS because you went there, I saw you in the business. You're in the business of buying an X copy edition of 10.
I know, went back and forth about the doomed and whatnot, but you did say that at the end of the day, the top of the following was art and NFTS, right? Or the bottom front on top of anyways, no matter how you put the pyramid. Do you want to expand on that? Maybe Like, how do you feel we are? There's a lot of negative sentiment right now about ETH NFTS with the ordinals. Are you looking to ordinals yourself? Like where do you stand on the Global NFTS here? This is the big macro view.
And you know, obviously I've understood NFTS for a long time and where they fit in, but I didn't have the macro. I even understood how to price him on a macro framework. But a bigger thing is that if this space, if I'm right, this space goes from 2 trillion to 10 trillion to 100 trillion to 200 trillion, right? That's what I kind of think the magnitude of wealth that this space creates over the next 1020 years is the largest the world has ever seen in the shortest
period of time. Wealth gets recycled. Now, if you ask anybody I've thought about this, I'm like, OK, what do I do at the end of this cycle? If I take a ton of money, if I took all my money off the table, what would I invest it in? That's a really fucking hard question. Yeah, right. Do you want to buy equities? No, not with AI coming. I just don't even know what businesses look like. You know, there's a lot of real structural issues out there. Do you want to buy Treasury bonds?
Real estate? Well, you know, yes. Iranian dude. Rolexes, I Don't know, Iranian. Uranium. But you know, you get to the idea that in a digital world, in a world where a lot of people have created wealth, in this digital world, art and tokenized culture makes a lot of sense. And if you look back over the periods of fine art, if you look at, you know, if you look at why is Damien Hirst a very valuable artist in the UK? Well, I was that period of late 90s in the UK and it was fucking
wild. It was the cultural epicentre of the world. Damien Hirst was tokenized culture, The Blur. They were Oasis, all of that was that one thing, you know, the Fat Boy, Slim. It was all that Damien Hirst is that Warhol is that baskets, that Banksy is that. They're all that. So we will all look back on this period of time and these things will be very valuable to us. I like that movie. Oh, go on, Arrow. Sorry. And. That's that makes sense, right?
And that's the point. And, and it always happens. If you look at Stevie Cohen, in the end you get there's there's a limit to the number of houses people buy or whatever, right, Because they're expensive to maintain. People buy art. They always have and they always will. So it just at a very, very simple philosophical level, I just thought, you know what this is. I get where this is going to go. And really when you look at it, the O GS of the very beginning.
There's very few, there's very few who started this whole movement that influence everybody else. Doesn't mean that everybody else is not valuable or whatever else. But there's there's literally. That makes sense. Six people who seeded everything. That's, I mean, that's fascinating. And we're all 1° of separation from all of them right now, which will never happen again. Never have you heard of this artist called OSF. And I heard he's not bad himself. He's all right. He's all right.
He's all right. Do you have, you have a couple red guys? We see you. We see. You. Of course I do. Ralph's infamous in the Red Guy community, yeah. I was straight in there and I've always supported the Red guy community. Thought for a while. He was the patron, right? It's true. You thought you thought that was bloody? We didn't know. We thought, Henry, we thought. We thought it was Hugh Hendry, we thought. It was Hugh Henry for a long. Time it's. Not, no, it's not.
Actually, no it's not. We actually tried to interview Hugh Henry to find out, but it's actually. Alexander Arno. It's actually Alexander Arno. That's that's that's why I'm hearing. Did you know Raul? By the way, Speaking of Alexander, Arno, Art and Parks, did you not Ovi bought the alien the other day? I saw that I was like Ovi, well done. But that's, you know, small fry for you these days. He does. That's like half of his whiff bag. Like true. OK.
Here's a question for everybody. Who's going to be become the main character this cycle? We asked him to do on yesterday. Yeah, I think ansome is probably up there. Especially it's ansome is kind of like levered to Solana. If Solana becomes the dying of of the cycle, which it has a strong chance of doing, because I think it it could repeat what ETH repeat what ETH did in 2021, then ansome is going to be, you know the the star behind that, I think. I think he's up there for for #1.
Because it's it's TER you know again we're we're kind of early so we don't know but it's the most dangerous place in the world to be is that. You fancy being main character. Do you fancy it? I feel like you had you like your name might be mentioned. If Solana keeps going right, like you, you would also be. You're the Solana Turbo ball, Raul. I'm trying to be less active the more it goes up. Ask Mark because you know it's that dollar cost average out of of your forcefulness on it all.
You know, I think I played my role but I I don't want to. It won't Doesn't mean I won't be bull pumping on the way through, but I'm just you've got to be careful. Honestly, I don't think there's going to be 1. Thing you can tell it's terrible. Oh yeah, it's horrible. Horrible, right? It's. Horrible. If you were having a glass of wine, it'd be entirely different story. We can. I mean it's what's well it's 11:00 AM here but maybe the lads down there can have some like 5:00 PM for them.
But you know I don't think there's going to be 1 main character boys like I think it's going to be we're we're getting so big adoption wise like you're right. Like Ansim is like the main character for memes and like Salon Eco, but it was like checking. In years time, yeah. When Bitcoin's at 250,000 and everyone's lost their fucking minds. Let's see who the main character? We don't know. We haven't got the Michael Saylor of this cycle. We haven't got any of these.
People that's that's OSF and Mando, don't worry, that's their I don't think, look, I don't think there's been one main character, but there's going to be a lot of characters at play here and it's going to get very interesting in very, very quick anyways. Wow, I just, I haven't realized. We've been jamming for like almost an hour now. Amanda Ovi. Anything else you want to ask for, Raul or things you want to touch on? I feel like we really went around Solana NFTS.
He never told us the contract address. Like what? What are the? What are the? What is the contract address, Raul? What are we buying? Raul with hat, is that coming out anytime? Soon I was thinking, so I just launched the DTFU. You know, don't fuck this up. Mean coin be. Careful, someone's about to launch it right now on Solana. Like it's like a copy. Paste, I know. And then claim that it was me who launched it.
Then you know and it goes to 0. But maybe I wonder if there's a way of launching a -1 so you need to short it. Negative. We could try. We could try. I know a guy, so hold on. Hold on, hold on. In case of an investigation by any federal entity or similar, I do not have any involvement with this group or with the people in it. I do not know how I'm here. I'm probably added by a third party. I do not support any members by
any actions of this group. Listen, Raul, this is not like OG 2021 NFT face milk, pouring head Faroque. This is like President arc the Crypt rug radio, fucking at tech. All this stuff, Faroque. I'm not getting involved in this shit. I've been main character before. I've been this and that. It's not happening. I'm good. I'm good. We don't want it.
We don't want it. But look, Raul, maybe like, before we take off, like I want to hear, maybe give us your three wildest predictions for this cycle. Doesn't have to be this year, could be one or two, could be 10. And maybe, hey, let's give real vision some love. Like, what's next for real vision? How do people keep up with what you guys are doing, you know? So my wildest prediction is basically, look, it's just don't fuck this up. I'm going to keep saying it. It's so simple.
It's just don't do anything. Look, this show is all great fun and we all talk about stuff. Pretty much everybody here is actually only trading, messing around with a smaller part of their position. Really we're actually just holding our core positions where we have beliefs and that is really the key thing. And you know, yes, you know, role bit's a sponsor. Yes, people use leverage. Yes, everybody here is ex financial markets, right. Everybody knows how to use leverage.
I don't use leverage, but you know, again, you can do it on the small bag, you can learn the game. But just this is the biggest crypto has been and remains the biggest macro opportunity we have ever been given. It's the best performing asset of all time in the fastest period of time. This is the big one. This is the one where you don't get a chance to bitch. We didn't get a chance. They got rich. Every single person on Earth can put 10% of their weekly paycheck
into this. So we're all on a level playing field. So the key thing is not lose control of your tokens. So that's, that's really it. And you'll be fine. You'll be fine. Just don't get too greedy. You'll be fine over time. So yeah, that's the main thing. And look, real vision. Part of that is really trying to help people in this.
You know, Commando and Ovi have been really gracious for their time trying to help people really, you know, they've, they've helped us create an education product to to educate people and also been on the platform a lot to help people. So you know, people just come across it's free realvision.com, you can go to the crypto gathering, everybody was there again, trying to educate people so you can learn the tools that you need and meet people on the platform, find your community,
enjoy yourselves. And if you do that, you'll have the kind of knowledge, tools and network, and it'll definitely increase your probability of success. And with that, I think this is a great place to call it off. Raul, thank you so much. I just so you know, we've broken every high ever for this show. You can, I don't know if you can see, but at the top I can 12,000 live viewers on video at the moment. Oh, wow. Thousand more on spaces. I'm like. I look, and I bought that for you, right?
I wore that brought it out The return. You buy that. Like, who sells that top? Let's see on the real vision merch. Site Oh, is it a real vision merch? Real vision merch. Where do we get it? Let's do let's promote this right now. Let's do it. Well, I might buy myself one of those. I might buy myself. Don't fuck this up merch as well. So if you go to the go to real.com, go to the merch store. Where? You'll have to. You haven't logged in so. Oh yeah, you log in and
everything. OK, I will log in and I will go to the store. So you make an account y'all and you've. Got I've got hoodies with Don't Fuck This Up on T-shirts. And then there's a whole bunch of other stuff like Irresponsibly long. Then you know what? You'll see us wearing that hoodie. Maybe I'll buy. Vintage. Now these are vintage, right? I got crucified for this on the Internet last time around. It's like it's iconic now. I love that that you say you
wear. Everyday. Rose like I don't, I don't wear use leverage. I wear it. So anyways to the 12,200 people watching us live, make sure that you follow Raul GMI on X. Make sure you follow at FOMO hour where like every single Monday to Friday 10:30 AM Eastern Standard Time to 11:30 AM Eastern Standard Time. We've been hosting over 600 shows. 600. We're over 600 days in a row now. Man. Raul, it was Jam and FTS Jam within a formal hour. Bull bear this. Is how you do it.
This is how you do it. This is how you do it. What on guys. Always a pleasure to see you all. See you in the flesh somewhere soon in the world. Are you anybody going to Dubai? Token 24. Yes, Sir, we shall be there. Yeah, I was just planning that with the. Team to see you there. Well, we'll see you in Dubai. Thanks for coming, man. Appreciate you. Wow boys. What a what an episode. What a show what a time. You know we saw 12,000 people.
So I'm quick gonna, you know, say make sure you follow OSF. Make sure you follow Mando. Make sure you follow myself on on on on on X make sure you follow at formal hour we're live every single day both on the Rugby YouTube but also on video on here. We show up, we pull up, we talk crypto news we talk daily macro news. We talk memes. We talk NFTS all with good laughs and good hearts. NFTS are whatever you want it. You got it. And yes Yannick's asking rug
video. Raul is a rug video holder himself and a great friend of all of ours. I know I say I give $250 away. How do we pick. Let's just pick someone quickly right now like on that's watching like on video or something like I I'll just like I don't know I don't know how to do this. I'm trying to end it. But but we'll we'll pick someone same same when we how do we undo this. Let me just pick someone real quick. Nope. Nope, Never mind. But anyways, where's Sibs? Is he back?
There he is. Do the phone, do the phone? Do the phone just. Just get Mando to pick a number and well, Mando will say stop as you go up and down. OK, you know what? Here's a go Mando. Tell me when to stop. Now. Yep, here it was. Case Kazi Kamakazi. Kamakazi with the mutant Ape comic. Kazi with the Muna Ape. Our team at four more hours is going to reach out to you just won $250 for listening to the show tomorrow. Tomorrow we'll be live. My boys are not going to be there.
But we'll be replaced for the day by ice bags and by these who will becoming Co host with me. And we're ripping $10,000 worth of loot box bins with our partners at Robit tomorrow. So let's get ready. And with that, with that, with that, we'll see out tomorrow morning, 10:30 AM Eastern Standard Time, 7:30 AM Pacific Standard Time for the episode of FOMO Hour on rock radio. Let's go.