10 Years Ago, XDAG Perfectly Predicted BDAG
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00:00:00 --> 00:00:19 Foreign.
00:00:19 --> 00:00:26 Very special episode here today on the show. I committed to talking about some items related to the garbage.
00:00:26 --> 00:01:05 As I said, the garbage usually refers to. I mean, everybody knows the garbage by now. But I'm gonna be talking about xdag. I'm also gonna be talking about iota. I thought it was good. Not Magnum ta. Iota thought it was good to contrast so we can learn the lessons of the past. That rhymes because specifically xdag, but also iota. You're gonna see and hear stark parallels of these projects and how they affect and relate to the decisions of the current garbage that we now are subject to. Let's get into it.
00:01:05 --> 00:02:37 Coinmarketcap.com and I know you're hesitant to do so, but we should zoom out to the month chart so we can watch that beautiful red candle headed on the way down. Bitcoin currently hovering just shy of $74 with a steep downward trend triggered largely due to the crash temporary of AI and tech stocks, specifically Nvidia chaos with the Nvidia CEO allegedly having some kind of a Schwinn dig with some sort of a Chinese spy. I didn't even read the details behind it because it's, you know, the, the market's fickle. They see somebody's just betting somebody that came from China that's allegedly a spy, and all of a sudden the markets tank. And then AI tanked. And mind you, Elon went up on stage and he did a demonstration showing some roadster, I believe it's called Tesla Roadster, doing flips and somersaults and sitting upside down on a ramp and doing all this fancy stuff. 0 to 60 in less than a second. Like all this stuff that the normal person doesn't need to be doing. The normal person doesn't need 0 to 60 in less than a second. Your body's not designed to have that level of velocity imposed upon it. Gravity was not designed to handle that level of velocity at one time. And certainly hanging upside down is not going to do very good for those that suffer from motion sickness. But it certainly was a cool picture. But it didn't move the market in the right direction. It moved it in the wrong direction. So bitcoin was taking a tumble. Looks like it's headed all the way down from what I can tell, roughly to the $70 mark. I could get that wrong, but that's what it looks like. It's pretty bad.
00:02:37 --> 00:04:19 Ethereum on the same month chart had an amazing drop comparable to what we saw with bitcoin. Bounced off the 2000ish. And then looks like it's recovered a little bit and headed down Ethereum. Looks like it may go beneath $2 and I think that's a good thing. I also am questioning what impact because as I look at the month timeline, I questioning what impact the Democratic so called blue tsunami might have had on some of the movement that we see. Where some people were not bullish about the Democrats taking back control of House and Senate might be that they're kind of frustrated that that happened. We need to put some things in perspective here about why that happened. Trump went on stage on multiple of these shows and said, guys, just picture me on the ballot. Just imagine I'm on the ballot, okay? Because he was saying that the people that were on the ballot could not be. He's basically throwing them under the bus and saying they can't win on their own. He got to, I think people did go out and vote picturing that Trump was on the ballot and that's why they voted the way they did. I honestly believe it because J.D. vance said what everybody's thinking out loud. He basically said that the war in Iran is causing people, they're nervous, they're like, this is not what we wanted. It's not America first. It's harmful. Trump went on a show just recently and said, yeah, you know, I can't really disagree, you know, I have to. But we, you know, we can't let, we can't let them have the nuclear weapons, you know, so what are we going to do? I think we're going to, I think in the short term we're going to have some pain. I think in the long term it's going to work out, you know, I really hope so. You know, I think events were honest. And then through Vance under the bus, he tried to be slick with it, but he threw Vance under the bus. Despite agreeing with him, he's agreeing. This isn't really what we want. I feel like we got to do it because we can't let him have nukes.
00:04:19 --> 00:05:53 Time will tell whether right or wrong. He's actually softened some stuff. He went on another show and he said, you know, maybe departing is too tough, maybe we need to go back. He's so we know what he's doing. What he's doing is he knows that those Democrats, the moment they, Al Green gets back up in that office, I want to impeach you. That's exactly what he's going to be doing, is writing up letter articles of impeachment. They're going to try to impeach the president again. He's already been impeached the first time. Couple times that that passed. Now they got control of House and Senate, might actually go forward to remove him from office. They. He knows what that is. That's why he's softening. That's the only reason he's softening. We know what the game is, and I suspect not knowing for sure that the market is reacting to what they see and what they sense might happen, which would cause a disruption. Because if the Democrats are successful in what they're allegedly trying to do, it's the worst thing for the economy. I had somebody on a video and this was on Jim Cornette's actually, and he was talking about the blue tsunami. Obviously he's a big Democrat, right? He was talking about the blue tsunami. And I said, you got to understand that they didn't vote for Trump to get him back in office. They voted against Biden because if it was. And Harris to a lesser degree. They didn't want Biden back in there. They didn't want Harris back in there. They didn't want another eight years of Obama, another four years if you put Kamala. Another four years if you put Biden for reelect. They didn't want that. That's what they voted. That's why it was such a wash. It wasn't because of Trump. It was because they didn't want Biden and Harris. Biden killed the economy, right?
00:05:53 --> 00:06:20 I had somebody response like, you don't know what you're talking about. Dude, are you serious right now? Biden went on the air like we're talking stuff that's on the air. I'm giving you stuff. You can go verify yourself to be the truth. He went on the air and he threatened Americans. What are you waiting for? I'm doing an executive order. Companies need to fire anybody that doesn't inject themselves with this unproven thing. He literally went on the air and told companies to fire employees that they might actually need.
00:06:20 --> 00:07:04 That didn't subject my body, my choice. He did that. That's on the air. It's video. Then people's response is what expected to do. People are at risk. The whole thing was not designed to protect your risk. The whole thing was designed to keep you alive. Maybe those people are concerned about something that at the time only had emergency use and they were not confident because it didn't have full authority. And we would learn later that the Pfizer version had some concerns and they were right and telling the truth. The whole time and they don't want to be forced to do something and they damn sure don't want to lose their jobs over something because the companies then are struggling because they can't get the work that they need. It has an economic impact, which is what I'm saying.
00:07:04 --> 00:07:26 People heard Trump get up there and say, no, we shouldn't be forcing anything. We got to fix the economy. We've got to give everything back on track. So he's talking the right language, but he never went through with it. And then he's talking America first, but then he's going to overseas stuff. Focusing overseas. America struggling then does. It wouldn't be beautiful, Bill, which is actually more damaging than what he promised.
00:07:26 --> 00:07:29 Everything had a. It's. It's a steamroll effect.
00:07:29 --> 00:07:55 And I believe the market is reacting to what they sense, which is nothing of what he said came true. Not that what he committed came true. But the alternative was worse and we might be headed back in that direction. This is me saying what I feel is happening in addition to the Nvidia garbage and the AI garbage, which are bubbles to begin with. And I believe it's. I believe it's everything all in a melting pot.
00:07:55 --> 00:08:12 That was all. It was a powder keg. And we had to see what was going to happen. We had to unravel that bandage and see what's going to happen to. You might. I'm not trying to freak you out, but you might be headed back to a world of this forced medication and you know you're going to lose your job. I want you to fire people.
00:08:12 --> 00:09:12 You might be headed back in that direction and nothing to show for it for two years because we didn't accomplish anything of what was stated for two years. It's two years of essential waste. Effective to the point your vice president came out on the air and said the war is probably why they turned on. Yeah. And young people who didn't want that. There were young people who openly said at colleges, it seemed said, we want to focus on the economy. We're worried about the cost of things. We're worried about being able to afford things. We don't know what's going on. We're worried about student loans. They're worried about economic deals that nobody has focused on. Less of the chatter about the Green New scam and all that. More about the economy because the economy has not been focused on. In fact, it's worse because of the war overseas. I'm stating all this because I believe it's contributing to a lot of the red that you're seeing. Not all of it, but I think a lot of it is a contributing factor. Because it's a contributing factor. It means an uncertain next two years because I don't think stuff's going to get back on track because it's so far gone. He'd have to immediately pull out of the war immediately.
00:09:12 --> 00:09:53 He'd have to somehow fix the economy and get it back and get America first focus back on the table and commit to it. And there's corruption claims. Okay, how much is he making on crypto to the billion of the crypto? And he's saying, you know, my kids, I can't tell my kids not to do it. My kids run the thing. And of course there is no regulation stopping what he's doing, but you know, they're going to go after him for it. So that's playing. And then let's say something happens. He has to liquidate all those assets that he's holding that's going to damage whoever else is holding those assets. Do you understand what I'm implying? Without any evidence. But I'm saying it's all in there together, potentially as contributing factor to the level of red that we see in the midst of everything else that's going on.
00:09:53 --> 00:09:59 So I think we're in for more pain in the short term. Obviously, anything that's a dip is a buying opportunity.
00:09:59 --> 00:10:08 Not telling you to buy anything specific. I'm saying anything that's a dip is treated as a discount, not as a problem. Except that we don't necessarily know how down far it's going to go.
00:10:08 --> 00:10:18 Now, the remainder of the episode, I said we're going to talk about these magical topics circling around the garbage because I thought it was apt to talk around the garbage.
00:10:18 --> 00:10:28 To do that, I first want to recite information from a site and I happen to know who created this site and I happen to know that that person is absolute trash.
00:10:28 --> 00:10:46 So I'm not going to credit the source of the site. However, somebody in or around this project might have some insight that they're willing to share and happen to be listening to. Be here at CryptoTalk FM. And if you are, please do hit the contact form or comments below if you'd like to reach out with more information.
00:10:46 --> 00:11:02 I'll even happily have you on the show. That's how confident I am. Now, it's possible that the person who put this is the actual person that I just criticized. That's person that's possible because they claim to have been in since basically mid 2024.
00:11:02 --> 00:11:12 So you're talking right at the incept. They claim that they put in almost $200 into block DAG.
00:11:12 --> 00:11:25 Let me repeat that for you. They claim that they put in almost $200 into block DAG as a combination of miners tokens for pre sale.
00:11:25 --> 00:11:28 Almost $200.
00:11:28 --> 00:11:52 Now they claimed that as of the time they put this post and I don't have a date of when they said this so I don't have any timing. They didn't put a date on this, but they claim that as of the time of this, the amount of tokens that they held or they accumulated via all this was just shy of just a little bit over 75 million block bag.
00:11:52 --> 00:12:10 The reason I'm so. I'm not even skeptical about it but the reason I'm just like side eyeing this is because if I look at how much they claim to have had and I look at how much money they claim to have put in, I have because I bought from webot when we bought went live.
00:12:10 --> 00:12:18 I have roughly a third, maybe a quarter of what he has.
00:12:18 --> 00:12:28 And the total I might have paid maybe at the time was about a thousand dollars at the time to get that from. We bought when the price was right. It was at the lowest.
00:12:28 --> 00:12:36 Right now you can get about 10. I just checked 10 million dollar tag and it's just side 300 bucks.
00:12:36 --> 00:12:41 So if we, if let's say, let's say 80 million.
00:12:41 --> 00:12:56 Okay, so we're saying, we're saying that for 2 bucks you would get the same amount of coins this person allegedly spent somewhere in the neighborhood of a 200 million or 200 rather dollars.
00:12:56 --> 00:13:30 Like do you understand the gap in logic of the pre sale pricing? Because the pre sale pricing was way higher and then over time this person had to be going to the presales. That's what I want to talk to you about and share this person's story because it's unthinkable why somebody would get to the point where they never recognize in their mind and something's not right here. Okay, According to this person, this is what they're saying. According to this person, they put a few hundred bucks in at the pre sale. So we're talking mid 2024.
00:13:30 --> 00:13:35 They weren't trying to, they weren't trying to immediately become a millionaire.
00:13:35 --> 00:13:38 They weren't. They didn't see marketing at that point.
00:13:38 --> 00:13:50 They saw just the claim of a block dag, a claim of a network, a claim of a new chain. It's just a new chain. So I'm gonna toss a couple hundred bucks and see how it goes. I have no problem with that. Okay.
00:13:50 --> 00:14:04 They claim they read all the documentation. So at this point Turner is not officially on board. Okay. So the documentation that would have existed would have been very rudimentary. I just want to call that out. Very rudimentary.
00:14:04 --> 00:14:07 Later they talked about the miners.
00:14:07 --> 00:14:24 They talked about he. This person talked about the miners and they were saying 200 block tag a day. Now obviously that's chump. That's nothing. Right. But at the time when you're talking spike high prices, there's a lot and I did coverage about the different minor tiers.
00:14:24 --> 00:14:29 He gives a number that talks about 165 bucks.
00:14:29 --> 00:14:54 $165 for a minor. So going off the pricing that I'm thinking this has to be if I'm recalling right and somebody can correct me. But if I'm correctly calling, that's got to be what, an X10 or something for 200 a day. And I think that was the one I called out and I said there's no way at that price. Because the price you're talking hundreds of bucks or thousands of bucks a day, it's like it's no way.
00:14:54 --> 00:15:04 So I'm like, I don't think that's gonna happen. Absolutely not. He's like, he's Talking about the X1 hundreds is 2000 a day. That one I remember. That's the ASIC miners. Right?
00:15:04 --> 00:15:30 Now I'm gonna get some quotes. He says, quote I did what a lot of people do. Once the math starts to look real. Pause. The math didn't look real. The math was unrealistic from jump. Okay, continue. Quote I scaled up. I bought 5x10s and 2x1 hundreds. That pushed me to just under 4 in a serious amount of money. But still in the realm of high risk investment, life altering catastrophe. Pause.
00:15:30 --> 00:15:42 So just under $4. We're just talking about. He tossed a couple hundred pre sale. They couple hundred pre sale up to $4 total investment.
00:15:42 --> 00:15:48 Simply because of miners with stated information and no proof to show for it.
00:15:48 --> 00:15:54 They went off stated claims. There was no physical devices at that point and they decided to go and do it.
00:15:54 --> 00:16:11 Quote I wasn't chasing a meme. I saw nodes coming online. Pause. No, he didn't. No, they didn't. There were no. No, there was no mainnet. It didn't exist. Quote. Documentation evolving and a team that looked like it could ship something real. The technology made the marketing believable. Pause.
00:16:11 --> 00:16:42 The technology didn't truly exist. There was no real nothing. It was all testnet. That was the primordial testnet, if I recall. There was nothing solid there. It was all smoke and mirrors. Now they might have been on the formative stages of getting somewhere, but why would you not just stop at one, let's say one miner and deal with that until you saw Mainnet and then scale up, why do it up front now? They accepted high risk investment. Okay, as long as you accept it's a high risk. Yes. Investment.
00:16:42 --> 00:16:47 And if you reconcile that, you could lose it, then that's fine.
00:16:47 --> 00:16:49 Here's the interesting part.
00:16:49 --> 00:17:36 That's when the phone call started. First came a private client manager called Jack. He hit every talking point game, changing tech, faster launch timelines, institutional level partnerships on the horizon. He wasn't just selling a coin, he was selling a future payments network. A system that might stand beside Visa and MasterCard instead of beneath them. Pause. So what this person saying they're referring to the private client. The private client. I believe that link's still out there on the site. That was a program that they had. They were. They didn't really heavily promote it, but there was a side deal that said click here. If you want to be a private client where you're investing more money and it gives you inside access, it gives you inside knowledge, gives you first run stuff. The private client structure could not have possibly been Turner.
00:17:36 --> 00:17:40 And I'm pretty sure Turner wasn't on board at this point.
00:17:40 --> 00:18:09 So whoever that was that had to be on the marketing, like whoever that marketing was at that time. So I don't think it was the current one. I think it was a different arm at that time. It might have been the same. The point is it had to be all marketing. So you're listening to a sales pitch from essentially a telemarketer who's making lofty promises about things that might happen with no evidence of it. Okay, we continue. Quote I was already watching testnet progress, listening to AMAs seeing the devs talk about nodes through put and security.
00:18:09 --> 00:18:32 So when Jack framed my miners as a smart early position in a future layer one ecosystem, it made sense. I let myself believe that a bigger allocation now would expose me to the upside of real infrastructure, not just pre sell hype. He pushed, I caved another 15 grand above and beyond the four went in paused.
00:18:32 --> 00:19:08 So what we're saying is this person made lofty ass promises and just based on their words, you felt 15 grand in addition to what? Like you couldn't just be cool with the $4 you were sitting on and just waited out till they saw something. You went out there at the words and said, I need to get more hardware. I need to get more hardware. That was never shipped. It was never available. You didn't see it. Tangibly, there was no mainnet. What are you investing in but words? Sales. A telemarketer convinced this person to put almost $20 on this business. It gets worse.
00:19:08 --> 00:19:18 I continue. Quote. With around $20 committed, the tone shifted. I was handed up the chain to Hunter Brown, pitched to me as the top dog.
00:19:18 --> 00:19:24 He told me the miners I already owned were custom built and unlike anything the crypto world had seen.
00:19:24 --> 00:19:56 With a $50 investment, I could lock in three more bonus miners that would supposedly be worth more than the $50 alone after launch, even if I never plugged them in. Risk free, he called it. The message was subtle but constant. You've seen the tech, you know it's real. Why wouldn't you take the bigger position? Every time I logged into the dashboard and saw new features, new language about mainnet readiness, or bigger promises about throughput and speed, it reinforced the idea that I wasn't just gambling. I was front running the future.
00:19:56 --> 00:20:15 That's how I ended up fighting with yet another private client manager, Jackson Levy, after dropping another $50. At that point, I was sitting on 5x10s, 5x1 hundreds and around 5 million BDAG with over $70 on the line.
00:20:15 --> 00:20:17 Pause.
00:20:17 --> 00:21:10 This person spoke to like three or four people, telemarketers who made lofty ass claims. And they booked almost $100 off of stated claims. Talking, just talking. That's what convinced this person to give money. And then they had the nerve to say that they weren't gambling. You're gambling when you don't have something tangible that you're buying against. When I say tangible, how about you buy one, wait till you get the damn thing. Once you get the damn thing, wait for mainnet to show up. Once main net's there, you buy more to scale up. This is a person who wanted to front run it. This is the person who wanted to get ahead of everybody else coming in. It's the definition of gamble. Because he had no guarantee that the main net would even launch. By this point, he's just going off telemarketer claims.
00:21:10 --> 00:21:13 I continue. Cause it gets worse.
00:21:13 --> 00:21:24 Then came the big meeting. A call with Antony, the doxxed CEO, where it was claimed BlockDag had the tech to compete with Visa and MasterCard and revolutionize the banking industry.
00:21:24 --> 00:21:33 I remember staring at node diagrams and testnet chatter, telling myself if even half this is real, I'm getting into the ground floor of something. History making.
00:21:33 --> 00:21:52 I dug deeper. Another $35 plus an 8% groundbreaking bonus. The presale bonuses kept increasing week after week. On paper, my position exploded. The dashboard made it look like I was sitting on life altering upside. If blocktag delivered and if the issuance and economics held.
00:21:52 --> 00:23:29 Then came tap miner. At first it was tapping, then the wheel, then more purchases, more spins, more gamified exposure. It looked silly from the outside, but if you understood the multipliers and the bonus structure, you can see the hooks. Massive numbers of B DAG on the screen tied to a project. You'd already convinced yourself I had serious tech underneath. I grind it manually. No auto spinner. Hours and hours of tapping. I hit my first billion, then two. Then came the jackpots. 5, 10, 20. Eventually more than 50 felt like beating the system. Even as part of me wondered how any of this could line up with a fixed supply and sustainable economics. Pause. Yeah dude. For somebody who claimed that they're not gambling and then proceed to do the very definition of gamble because you couldn't resist that tap miner, which is the definition of gamble and had no common sense to it. And at some point later, after you've already booked over a hundred thousand dollars, do you reconcile? You know there's a fixed supply. How am I getting all these and you still don't stop? How is this not the definition of. Of a gambling bug? You had a gambling bug. You had a gambling illness. You gambled. That's what you did. The moment you booked your first dollar. You gambled on it, trying to get ahead of other people thinking you were going to be made a millionaire when you knew it wasn't realistic. Because if it's too good to be true, it probably is. But you fell for it anyway. And you're only now acknowledging your part after you do it instead of before quote and I'm not going to read all this or quote all this. I'm going to quote segments of this one.
00:23:29 --> 00:23:33 A new name started circulating the private circles.
00:23:33 --> 00:23:48 Some people say it's just a rumor. Others showed fragments from this is Zach SBT garbage. The bonus is going insane. It wasn't hard to do the basic math and see the dashboard numbers didn't reconcile with any realistic cap. People are going to talk about overselling money being recycled.
00:23:48 --> 00:23:53 Of course, that's how I ended up where I am now.
00:23:53 --> 00:24:12 Roughly $165 in one test x 10 miner 76 million VDAG on the dashboard. This is before the compression. Closer to 30 million after everything is adjusted. The financial cost is obvious. The emotional cost is hard to quantify. Feels like years shaved off my life.
00:24:12 --> 00:24:15 I carry my part of the blame.
00:24:15 --> 00:24:21 I kept investing through red flags because I could see the tech, the network, the possibility of something real.
00:24:21 --> 00:24:53 But I also believe in my opinion that the way the presale bonuses and private client pressure were run was fundamentally wrong and that those responsible for that structure should have to answer for it. The painful irony is that I still believe there's a real project under all of this. The devs I've watched working, the infrastructure I've seen, teased the architecture that exists beyond the marketing noise. All of that still looks like it could be something. What I want now is simple for the marketing machine that hollowed this out to be separated from the technology that might still be worth saving.
00:24:53 --> 00:25:09 If you're reading this and considering getting involved in anything that looks like this playbook, my advice is straightforward. Study the tech, verify the supply, question the bonuses. And if you ever see a model that looks like this one, run the other way.
00:25:09 --> 00:25:43 Words of wisdom. So I hope that person's listening. They probably aren't, but I hope they are listening because I at least saw they acknowledged their part to play. I have no concern with saying that the marketing should be held responsible, but sometimes it gets overboard. You're like, dude, there's he says he saw tech. You didn't see tech. Seeing a test net doesn't mean you see tech. Seeing mainnet is where you see tech. You have to see it in production. You have to see it in the real world, not a test net test. Anybody can spin up a test net. That doesn't prove anything.
00:25:43 --> 00:25:51 This is a person that was trying to beat the system. This is the definition of gambling. You were trying to beat the house and you lost. He acknowledges his part.
00:25:51 --> 00:26:56 The lesson to take away is it didn't need to get this far. It didn't be this far anywhere close. He should not have put in more than 100 couple hundred dollars. If you want a toy and see, okay, lose it. One minor and that's it. Don't go the full monty. The private client, they're not reaching practically out to you. They wouldn't have his contact information. He contacted them because he had the money and he figured he'd be an insider. He was trying to beat the system. He was trying to be a whale with the intent that he would dump out get life changing money. Said so himself. Okay, but you got to own some of that stuff. Now here's where I have a different stance because he says this person says he talked to Anthony Turner. He says he talked directly to Anthony Turner. This person, I don't know if it's a he, this person talked to Anthony Turner by their claim, directly claimed that Anthony Turner made the statement, and I don't know how specific, but I paraphrase what it said, that the technology was going to compete with Visa and MasterCard and quote, revolutionized the banking industry.
00:26:56 --> 00:26:59 This is a marketing type term.
00:26:59 --> 00:27:27 If it's true that Antony Turner told this person that they were working on tech and made a claim that was going to revolutionize the banking industry, that means Turner is just as culpable for faulty marketing as any of the rest of them. And the marks who ally with Turner who then trapped you because they convinced you to listen to them and attack everybody else that was trying to help keep you safe.
00:27:27 --> 00:27:38 You guys now understand when I said I don't recommend listening to what you're listening to. And when you attacked me, I walked the other direction because I knew what was going to happen to you.
00:27:38 --> 00:28:23 But you didn't understand that. I hope you understand now that Mr. Turner, and he's gone missing, but at the time he's putting these videos up claiming transparency, he wasn't transparent about his part to play in the marketing of things that he was also helping sell some of this crap, he was misleading some of those people. He might have thought in his mind that the tech was going to do what he said. He couldn't prove it, he couldn't guarantee it. And if he's making those statements to somebody stated as a private client, you understand that the expectations are going to be higher. That puts an obligation on you, Mr. Turner. But if it's true that you stated this revolutionized the banking industry, when you had no way to prove that was going to happen, it puts Turner just as culpable as all the rest of them.
00:28:23 --> 00:28:38 And if this person again is listening, you say you didn't buy hype. You did buy hype. You bought hype in the form of the appearance of technology that was not vetted in a production scenario. That's the definition of hype.
00:28:38 --> 00:29:02 They told, they told you I can build a car that can flip in midair. And because they told you and showed you specs of doing it and they showed you an example of doing it, let's look at Cybertruck, which is just discontinued, they told he Told you. This is a bulletproof truck. It's rock solid. Only to have it do unexplained fires. Unexplained fires are matter for the course canyon.
00:29:02 --> 00:29:07 That's what Cybertruck was claims and it's a failure.
00:29:07 --> 00:29:19 This is. This was the cybertruck. That's what it is. You had something where somebody gave you a fancy dog and pony show and you bought way more. I'm not even suggesting that you shouldn't have put any in.
00:29:19 --> 00:29:35 As long as you can cool, lose it, that's fine. I'm saying why did you keep going back to the well when you had to know up front what they're talking about is not realistic? Because if it was realistic, think about it, more than just you would have had to get on board and there wouldn't have been enough money to go around.
00:29:35 --> 00:29:44 Like, even at the basic math level, none of it made sense. And that's my Geez, why are people like this then?
00:29:44 --> 00:30:04 The contrast that I was going to talk about and I'm going to focus on XDAG for this episode, IOTA is a little bit less of a thing. But XDAG is the closest comparable. If you don't know what XDAG is, XDAG way back, and I want to say it was like 2015, 2016, 2017, somewhere around there.
00:30:04 --> 00:30:19 This guy creates a project. China creates a project, says it's going to be a DAG instead of a straight blockchain, says it's going to use proof of work. All these are things you heard before a foundation's formed. X DAG Formation of China.
00:30:19 --> 00:30:39 The community doesn't like what's happening with the development and some of the statements and things are trying to make. And they do essentially a hostile takeover of the XDAC project and they're building off the side. They get listed on an exchange that's dead called Vinex. It's dead, long dead, dead in 2019 or 2020. Somewhere around there, it died.
00:30:39 --> 00:30:44 So that exchange wasn't there. Got listed on a couple of other decentralized exchanges like Coin X.
00:30:44 --> 00:30:55 Coin X gets breached roughly 20%. Close to 20% of the supply of X stag was in Coin X when it got breached, it got taken.
00:30:55 --> 00:31:15 So now there's a risk because people can just dump off the project. It's never recovered. It's still out there. You still trade it still buy, sell. But after this breach never recovered, the team had sent out posts, it looks like Telescam, where they were going back and forth with CoinX saying, well, how are you going to make this right? Our people are out. This is your fault you got breached.
00:31:15 --> 00:32:22 COINX is responding saying, well, we're happy to buy, you know, some of these X DAC from a different exchange and give it to you that way. And they're like, no, that's not acceptable. Then they're like the team, they're like, well, the current price is like 0.08 or something. It was, it was not too bad. It was shy of a penny. But okay, at the current market rates, give us back our money at the current market rates, then we'll call it even. Coinex is like, no, we can't do that at that rate.08 but we're happy to give you a which is the price it crapped to 2. Then we'll give it to you at that. The team's like, no, that's not acceptable. COINX is. Then COINX is starting to get a little bit abrasive. They're basically just saying, okay, kick rocks. Then they delist it. COINX does because it's not recovering. They're not going to get the tokens back and trying to do anything else is going to cause a loss and COINX tells them to screw themselves. So point is that after this breach, after the whole China situation and this community type business, 2024 is the last I saw any significant traffic on the XDAC project.
00:32:22 --> 00:32:24 That's a long freaking time.
00:32:24 --> 00:32:37 But it's similar in the sense that you had a DAG concept. Somebody talks about a DAG concept, proof of work over top of it. There's essential somebody that makes claims the community doesn't agree with what's going on.
00:32:37 --> 00:32:48 Community tries to take it over. There's issues on the exchange side, gets with dealt, delisted like crazy and then craps and never recovers and it never is successful. You understand though?
00:32:48 --> 00:33:30 And IOTA is I'm gonna get to. But you understand the idea of lofty claims, the idea of a crash and burn, the idea of a central authority that screws up, the idea of community takeover, the idea of somebody else just has this idea and this person screwed up and we're gonna do something different than getting cut off. The nuts is not specific to, to the garbage. It happens to multiple projects. It's not specific. And the DAG deal is not something that has been fully successfully pulled off. IOTA was a similar in the dag. It didn't have the pre sale, it didn't have all that chaos, it didn't have kind of the controversy pieces not like this but it's same thing, tries to be a DAG structure. We know about caspa.
00:33:30 --> 00:33:44 Casper is kind of the model and the other piece is that the iota, the block dag, the X DAG were not directly similar to the concept of DAG that was that spawned CASPA at all.
00:33:44 --> 00:34:30 So all these other ones, that's why I call them Teemu Dag because they're not truly what was intended by it. So when you go back to what allegedly Turner said in terms of revolutionize the banking industry, there was no way it was going to happen because what was created, what is even there now was, is nowhere close to what it would take to do like what an XRP can do in the financial space. It wasn't going to happen. They're just claims but they're taking advantage of people who don't understand enough about the technology to be able to expose it for what it is. And then you have marks who listen to the sales pitch of say somebody like a Turner who's telling them something like that and they fall into that thinking that they're in good hands when that person didn't know what he was doing either by his own admission.
00:34:30 --> 00:34:33 Now it's the blind leading the blind.
00:34:33 --> 00:34:48 If it's true that Turner said that, I don't know that he did, but let's say he did. If he did, then you can imagine when he's allied with the consensus that means he's misleading them too about what he thinks is going to happen. The whole loi and shit.
00:34:48 --> 00:34:55 Now you understand if you're following the marks that listen to that they're just, they're misled.
00:34:55 --> 00:36:40 It I want you to reconcile, I want you to reconcile nothing absolves blame of any of these entities. I'm saying that multiple are to blame. I'm saying that it's not just one person like everybody's trying to make it out to be one person. That's all this. It's not. There's multiple in this that are part of this screw up. And until we come to grips with that and we understand that that's what it must do do. And we understand by the way that XDAG nor IOTA neither have had any sort of criminal anything. No civil anything. There's been no legal anything because technology was created of some sort. Things were presented of some sort presented as a failure, then dwindles and dies after hacks allegedly nothing legal. So when we talk and we're screaming and squawking about legal and all that, you're not recognizing how difficult it really is to distinguish what is a failure versus true intent, malicious intent. It is extremely difficult to prove the latter. It is extremely difficult. It's easy to identify failure. It's easy to identify screw ups. It's easy to identify incompetence. It's easy to see these people were just trying to screw you. Nobody really knows what's happened. Even now. We only have theories. I'm not absolving any, anyone. I'm saying for the people that listen to the marks who were then listening to a person who allegedly was part of the marketing, even if they didn't intend to be, by making statements that they could not prove, causing people to put six figures in it based on their words, that person's just as culpable. And because they're culpable and they were guiding marks, those marks then misled you.
00:36:40 --> 00:36:52 That's what you have, that's what you had. That's what you've always had. And it's the reason I said way back yonder, no, I'm not part of the army. I never have been part of the army.
00:36:52 --> 00:37:00 I believe in family. I warn, I message, I share things that you can see for yourself to be the truth.
00:37:00 --> 00:37:08 Whether you accept that truth or simply deny it and be subject to Stockholm syndrome is something outside of my control.