REKT Live From Miami: Crypto's Next Catalyst (January 23, 2025)

28:19Like, they did well. Big people, for sure. I know, you know, because some people don't like Brian, some people don't like CZ for the only reason, some people don't like Trump, some people don't like Think, but they were good stewards of crypto in Davos at least this time around. I followed it very closely and I thought it was really good. Yeah, for it to be all the major, you know, the top brass of the Trump White House, and also many different business figures. Larry Fink was up there with Ken Griffin, who runs Citadel, talking about tokenization. You're thinking like, wow. We're getting somewhere.

28:55We're really, we're getting somewhere now. What does it mean for my fart coin bag? And I always make that joke. I don't know. But for the future of this industry, but also like approaching this industry as a trader and as a founder has nothing to do with one another. As a trader, I would probably feel very defeated right now. and tired and depressed because seeing what we said, right? Silver, all this stuff, I'd be like, damn it. As a founder, I'm like, dude, prediction markets are soaring. Tokenization is soaring. My industry is booming. Everybody wants a piece of us. Like, I'm excited. Yeah, Monday, I definitely felt like, oh, you know, it was like I really felt like this was going to be the week.

29:40Everything else was settling down. We were even, like, after the first Green Line headlines, we were rallying. We rallied. But when I saw we couldn't sustain that rally, that's why I didn't go back in the market. We could even break 90.4K. I'm like, what the hell? Call me when we're back above 94K end of week, you know? I actually wouldn't be surprised if, like, we see this, like, a good weekend. Hopefully, futures open green on Sunday. But the thing is, it's nothing to do with Green Line, I think. Like, first of all, the situation in Iran is about to escalate more than it ever has. There's more troops right now around Iran than there's ever been.

30:12It's more than both Iraq and Afghanistan combined. They just sent another 25 ,000 Delta Force members, allegedly. And so something is about to happen. Not 25 ,000. They haven't got 25 ,000. They ain't Delta Force. It's insane. Maybe SEALs. Yeah, something like that. Anyways, I'm not an expert, right? But there's more troops that's ever been in the Middle East. The threats are getting stronger. I mean, Trump said an Armageddon. who uses, no armada, so he said there's an armada of troops around Iran. So there's that, to keep in mind. And then there's, I'm not an expert on this stuff, but the Japan stuff, obviously, you keep an eye on.

30:49But it always gets fixed, right? It's funny, they'll put a bandaid on it. It gets fixed by them probably having to print a lot of money. When are we going to print money? You can't have Japan's debt to GDP and have high bond yields. They're going to have to fix it somewhat. Yeah, so we'll see. I'm still not too excited. Let's talk about prediction markets a little bit. Let's go. Let's do that. Because you continue to see them hit all-time highs, I think, in terms of volume in January. A lot of this is driven by sports, and that's causing a few issues in the US. But how has it been over the last month and a half since we spoke in terms of prediction markets?

31:33it feels as though whenever I talk to you about it, everyone in crypto opens their door because they want to be involved in prediction markets. Yeah, I mean, from the consumer and user perspective, I think, you know, everybody still loves them. It's fun. It's cool. It's a new product. It's a very good onboarder as well. And we have a lot of fun markets, right? So people really like that on the myriad side, at least, like, you know, we're seeing a growth in users and a decline in volume because, you know, got rid of a lot of like, you know, There's a lot of like, unfortunately, PredictionWorks have the problem of like wash trading problem.

32:04And so we got rid of a lot of it, which is good. But we've seen a growth in net users. So we announced a partnership with World Liberty 5. We're the first prediction market to announce USD1 pools, which is awesome. We have more to come. And we've announced our Merit wallet, which is going to be powered by Moonpay. So there's still that, I'm saying this to say, look at the people that are coming to us. We also announced that we're going to be working, you know, on some stuff with the Paton Foundation. So there's a lot of interest in this segment of crypto. And behind the scenes, what's awesome, and obviously you'll have a much better look than what I can talk about on a recorded show about what's going on behind the scenes in Myriad, you see obviously, but the institutional demand for prediction market.

32:49Our phone is always ringing, whether it's to talk with digital asset treasuries, whether it's to talk with large exchanges, whether it's to speak with some of the biggest investors in this industry. They're constantly trying to invest in this new economy and constantly trying to get a piece of them. Prediction markets are Coinbase acquired prediction market and are going to launch their own natively. Robinhood, of course, already do the prediction contracts with Calci, but they acquired an exchange, LedgerX, in order to launch their own and partner with SIG. I know a lot of exchanges are trying to acquire prediction markets and partner with them.

33:22So it's just becoming it's an asset class. That's why I always said, like, stop comparing prediction markets to meme coins. You're insulting them. Christian markets are multi trillion dollar asset class or futures contracts that you'll be able to trade actually Speaking of the gathering last night was that one of the dinners, right? You were a different one. I wasn't one of them and this lady, you know She's got two kids my age. We can imagine, you know, the the the the age category she's in Very kind and she was telling me. Oh, I was on Robin Hood She's a huge fan of Robin Hood which tells you a lot of Robin Hood Yeah, and she's like I could trade these contracts because we were talking about AI of which AI company or something will be worth the more the most, whether it's Gemini, OpenAI, et cetera, and I was like, well, this is what I do.

34:04She's like, oh, really? And she was like, that's powered by Cal, she would rob Ben Hood, you can predict this now, but that's also what I do through our media company, we rob, and she knew about them already. She doesn't need to know about the 10th iteration of, you know, Farcoin, but she knew about prediction contracts, and she called it contracts that you can buy. And I thought that was so cool yesterday. And that just goes to tell you that Christian markets are just going to become part of their life, right? It's why FanDuel's all in. It's why DraftKings is all in. It's why everybody's getting involved.

34:35This is why Calci's getting attacked left and right. And I'm sure there's people lobbying against Calci and Polymarket, right? And there's a reason why they're getting so much attention. Well, I think the main issue has been that they've gone off, well, particularly Calci's gone off to sports. And to me, there is an established, regulated industry there. Of course. But if you are creating, like, we've seen this on elections. Yeah. Like, you're creating markets which weren't there before and that, you know, traditional bookmakers were not doing. I think it's super interesting. Super interesting.

35:11Like, yeah, like, which bookmaker was ever giving you odds on which would be the strongest AI model? Nobody. Nobody, right? Will Elon acquire Ryanair for real, yes or no? Right. People love it. Like, it's just fun stuff like this. And I do think that's going to be the number one onboarding tool. You can see the way that it's been set up with the percentages. It's very easy to see how to get involved. And I think I am fully in alignment that prediction markets are going to be massive. As long as they keep serving truth and not fake news, then we're going to be in a good place. Because they're meant to be a truth machine and then sometimes they're used for the wrong reasons.

35:49But I think that as long as we keep going down that route, they're very good. you know gosh like we even saw recently for other elections in different countries like prediction markets had it right so it's like there's like you know there's still this like really important element of truth in prediction markets that i think you can't ever take it away from people once they use it yeah yeah i think again that's been one of the bright spots that and payments like whenever i speak to anyone in the payments industry we had rain who's a credit card company raise at like two billion dollars yeah it's crazy and we know we know the moon pay team very well.

36:23And we know swaps and so many payments companies in crypto are just like, this is the best period of my life right now. And pretty sure market people are also saying that. And then everyone else in crypto is kind of on the other end of the spectrum. No, because they're still buying. Which just seems so utterly ridiculous to me. I would really love to see a reversal on prices, like one of those aggressive two-week moves, not like one day to really change that sentiment. Well, it kind of reminds me of when we were involved in NFTs and then when you notice the group chat was stopping trading something, that kind of says a lot.

37:02It normally needs a period of bloodletting, let's say, and then people come back. The group chats are trading small again, right? You've seen a few tokens go to 10 million, then 50 million, then that white whale go to 200 million, and then you're starting to see more appetite. That Seeker, the Solana Seeker phone. Yeah, that went to$400 million. $400 million. There are things going on. Unfortunately, you have to get out of them the second you're up. Yeah. So we'll see. But do you think there's going to be a rotation from these gold, copper, these things back into crypto at some point? Or even the markets?

37:41The M2 money will just go back and they're going to flow back to crypto at some point? it's kind of weird because i feel like commodities are going through their meme stock moment at the moment yeah or meme coin moment like if you read all the shit like the chats of complete degenerate zoomers they're talking about like cornering the copper supply and the silver supply there is some truth to that but it's interesting that like that has been they are literally memes now of like where like oh you know i'm rotating my silver bags into copper i'm rotating them into these are markets which have been established for you know tens hundreds of years and suddenly people are looking at them under i think ai projections of use case use cases and going like right ai is going to use this much silver this much copper this much palladium and EVs are going to use this much of them all too.

38:39And you get these crazy expectations. And they're now mixed with all of crypto starting to trade it. RWAs have come to Robinhood and all these trading venues that people use for day trading. I actually think it can last longer. Okay. A lot of macro traders were looking at silver and saying, oh, whenever this happens with commodities, they come right back down to earth. I would look at Silver and actually compare it to like the GameStop chart. Because that's kind of what I think is happening. I mean, yeah, it's not a fundamental trade. And I think people, it's from an industry which is very fundamental.

39:20You know, like when you're trading commodities, it's a case of lots of technicals, like who's moving what, but also supply-demand projections. and like big, very complex models often on things like weather and projections of demand and supply. And like there are some very smart commodities traders and everyone assuming that those are the people who are still trading this. And it's actually not. It's the guy with 500 bucks in his Robinhood account. I know. And there's millions of them. Dude, FedEx drivers are trading silver right now. Right. You said this the other day, right? Like somebody was trading like, who was that?

39:58I was speaking to somebody who said that their Uber driver was trading silver. Yeah. And until they're trading crypto, we're not seeing a return to that. But I think that what I'm basically trying to say is I think that that influx of traders all trading one thing kind of tells me that they can last a little bit. So I've publicly been buying gold, which I've said. I think gold I still like because if I'm in Japan right now, I'm probably thinking they're going to debase the hell out of me. And I still like the debasement trade. And I think gold will be the big beneficiary. That's the problem, right?

40:36The debasement trade is not crypto right now. It's not. So I still like that trade. So I still like gold. But there's no doubt in my mind that if all the group chat is trading palladium, copper, platinum and silver, you're going to see meme stock style moves in that. Yeah. And it's kind of important. And it's starting to happen a little bit in AI stocks, too. Things like Sandisk. Have you seen this stock? Dude, it's up like 18x. It's up like 18x. Yeah, 18x in the last year. and it feels as though that audience, the longer and longer crypto underperforms, which was the only venue to make 100X, and it still is like a venue we can make 100X, the longer and longer it underperforms, the more and more these sort of non-fundamental or like lightly fundamental traders start to move in and think they can corner a market or a stock or a commodity and full send it so insane so i i think silver hit 100 today um i don't know where it flips gold but like i also just think like throughout the rule book when it comes to this sort of stuff like it's not acting like it should it's not and you have to live in a world where that can go on for a lot because also the supply side of often these minerals it is fairly inelastic like it's not that easy just to spin up a silver mine you know that there will obviously be active ones which can increase supply but like there's a world where you can corner that market for quite a while you know that's hilarious and i think that's that's like a funny funny move there so i still things like i still think crypto group chats will be trading tokenized silver and tokenized platinum and for the next few months i really do um all right so i i i wouldn't expect for that rotation to happen instantly um for crypto to kind of come back i think we need something to break or something to really shift on the money printing and i think japan is setting itself up for that yes right now so when is u.s going to print i would look at that and there's been a little bit of like oh japan is bad for crypto i actually think that that situation is the biggest case for crypto possible on the global scene right now interesting like i think that the u.s regulation thing is is you know is coming along and the clarity act will help but i actually think that japan's somewhat breaking would cause bitcoin you would hope would cause bitcoin to really rally.

43:21Similar to what we saw with the regional banks back in 2022, was it, or 2023? Japan is a big deal. It's, what, 3 % to 5 % of the global GDP, but an economy like that realizing that the only way to fix its debt problem is by printing money, that would really, I think, be a big thing for Bitcoin. And hopefully the quantum stuff you know that it continues to be an active discussion that people are ahead of that would be it right I don't know I think I think we're kind of we're kind of at the end we normally do questions around this for the time so any live questions come in yeah nothing nothing nothing what no I'm gonna check myself this is tough this is tough we've got a whole OV says cheers.

44:18Got it. I'm missing it out. We've got a whole day in Miami to enjoy. Come on, y 'all. No questions. That's BS. Me and Farouk walked down to Muscle Beach earlier. Oh, we're looking good. We're looking kind of jacked on this. Thought about going on to Muscle Beach and then thought against it because everyone was too jacked. So we went on eight cakes and breakfast. But yeah, we're going to be here for the next day. We're going to be on a cast of cruise tomorrow. It's going to be epic. This gathering is awesome, by the way. Yeah, yeah. Definitely. I mean, I've been talking about it for the last few months.

44:46I didn't come last year. but when I walked into the conference room yesterday for it, I was shocked. It was like 150, 200 people there. And then today we've got a bunch of dinners, a bunch of events. So real vision events are always a lot of fun. It's my first one and I'm really liking it. I'm reading the comments. Plus it's slightly younger than the crowd, I always tend to find, which is great. Fine? Slightly younger than the crowd. Yeah. So it's always kind of good fun because everyone's got really good stories. I like it. Everyone's got some Chad business, which they've just sold, or like they're doing crypto on the side and you get some really great stories.

45:19I'm trying to see if anybody's got questions. Nope. Someone's showing us H-Bar. What do you think about that? Of course. Brother, the amount of time someone mentions H-Bar in the Girl Vision community, I have no idea where it's going. It's kind of funny. There's been a lot of people complimenting about Rekt, actually. A lot of people come up and said, oh, Rekt is killing it. How's Rekt drinks doing? How's OSF doing? Because OSF obviously comes on this show quite a lot and used to be a full co-host, but that's been the other thing. A lot of people ask me, could they buy in Miami? But I don't think they can at the moment.

45:52It's only really in California and parts of the Midwest in terms of physical stores. Interesting. It's cool to meet a lot of people around that as well. I love that. Yeah, I'm reading. There's no questions. I'm on the chat. Chat, let us know if there's anything. Don't worry. Don't worry. We're going to go have a couple of margaritas. Not alcoholic for me. Yeah. I'm doing dry January, although everybody here is trying to break me. Alcoholic for me. And we'll see how the day and the weekend unfolds. So thanks a lot, guys, for tuning in. Next week, we will be back for another episode of Wrecked Vision.

46:31I think we're going to have another co-host. I'm not sure who it is. Maybe OSF even for that one. No way. Maybe. What an honor. What an honor, yeah. Where? Oh, there are questions? There are questions? Where are the questions? Oh, God. Okay, I have been sent some questions. Here we go. Hold on. I didn't see the questions in chat. Arthur did. Okay. Tell us about Rex and recent developments towards world domination from Mike on the RV website. Okay, well, Rex, what I will tell you a little bit of alpha is it looks like they're going to smash through the physical sale records at Giant Eagle, which is the...

47:10I saw that. By smash through, they're going to probably do 10x what was expected. So not... They are going to annihilate. The restock is going to be massive. They annihilate the sales record. It looks like they're going to 10x it. So that will hopefully lead to now a massive nationwide campaign. And more buybacks. 10 % buybacks. Obviously more buybacks. And, you know, I think it's... This week Rex was one of the best performing coins. It was a very bloody period for meme coins. So everything's looking good. OSF smashed that physical sales target now. And I think they're going to try and scale that bit of the business.

47:53I do think naturally as it scales, it's going to have to scale a bit more outside of the crypto community. It has to. for it to be like a massive success. We can't just sell it on, you know, drops to crypto people. And I think even the holders get that too. But it's the X Games tonight at 9.30. We saw that. And you're there. Rekt is one of the sponsors of the X Games. And WorldStar. So what you're saying is already sort of. Right. So, you know. Increasingly, the stuff that they're doing is more Web 2. Yeah. So Rekt is one of the. So like you can go to the X Games. If you're at the X Games, go to the freaking fridge and grab a Rekt guy.

48:28You know what I mean? like it's so what you're saying is he's he's doing it yeah he's doing it and that like it's it's less i think last year we basically built a foundation of drops alongside crypto projects this year is going to be a foundation alongside they said they got a lot coming web to you know physical stores direct to consumer but they got everything so damn when wrecked at 11 miami that's good cooking sigma on youtube raul says 100 trillion by 2032 where will total peak this cycle i'm not i don't have a view on the cycle so i think my question there if you're asking where i think it peaks this year

49:11i i think we're at about three right now three five four i would be really happy if we 2x this year if i'm honest yeah i think if bitcoin gets to about 150 and we and we see a a big increase in stable coins which i think is the main thing that we're going to see because our was are just going like this right now stable coin super cycle i think i think there's a there's a world where we get to like six at the end of this year nobles on youtube when will mando go long eath again I think the viewers now kind of know me as a trader. So I have a fundamental view on crypto where I'm bullish. But how I set up trades is often trade setups where I look at the upside downside of a trade.

49:56I was long ETH at$3 ,300. And I thought it would break up to$4 ,000. It went up on Sunday night. It was at$3 ,600 maybe just shy of that. We got close, dude. 500 and i was like wow what a great trade and then i went woke up and it was at 3200 um i know it's up to be king i think similarly if i saw it break out of a multi-month trend like it did and it went above that 3 400 level again i'd look at it but for now i hate buying things where i feel like i'm catching a falling knife because i feel like that's that's where i always lose money because because they can really uh as 10 10 shows right like the liquidity is not there sometimes when things start getting liquidated and it can be it can be horrific so east is probably my top one that i'm looking at right now but uh i think we need some stability and some some higher prices for me to kind of get involved

50:56uh what's the next mando trade good question so i i bought some monero uh on the planes yesterday just because it's one of the few coins that i still see in an upward trend but i i am very wary of that trade still uh because it feels as though the breakdown in altcoins can be massive so that's a trade which i bought at 502 on the plane yesterday it's about 520 now so if you want to still be in that trade with me that's that's a trade uh i if that breaks down below 480 i'm out so uh but i think it could if it rallies up to like 600 i think that's it you know that would be a very normal uh even a bounce sort of rally because it was 800 to like bounce back up to 600 so that's a trade i like right now in altcoins rex i think is another one of the very few that's still on a if you look at longer term or higher time frames.

51:57It's still on a bullish trend on a daily and weekly, so I like that trade. And then outside of that, my number one longs are Google and Gold. So those are non-crypto trades, but I like both of them. I think Google is going to be the most valuable company in the world pretty soon. I think OpenAI is about to be a complete disaster. And I think - They keep making the wrong decisions. And I think Google is going to benefit the most from that. So it also just has great products. So I think that that is kind of my trade there. And gold, I just spoke about. I like everyone in the group chat is trading metals, but I also like the debasement trade.

52:42And I think gold kind of wins on both of those at the moment. Do you have any trades at the moment you like, Froak? I have none. No? I have a lot of Rekt. I'm a top 20 Rekt holder. Right. but since like two years um no it doesn't feel like a time to have very high conviction you close bitcoin weekly at 94 i'm in yeah i'm happy to miss the move up you see that's because you've been trading with me for so long exactly i i i got right too much i also got hit with you on the trade but yeah that was the first time i lost quite a bit of money where i was not pissed because i had the right trade on in my opinion yeah you if you have a trade like that you know your downside And I closed at$92.5 and$3 ,200, so whatever.

53:23But it sucks, but it is what it is. There's going to be another long opportunity, but I don't like it. Like I said, the overhang of war, God forbid the action on Iran, they don't manage to catch Khamenei, that guy goes nuts and he knows he's about to die, he hits the red button. I'm not risking my portfolio over that. They are mad people over there. You're Persian, though. I feel like your worry about that is high. I agree with you. I have been seeing all the headlines around the troop build-ups. I like to pay attention on that, and I think people should be careful. What is Polymarket saying about if they're going to hit them?

53:59I don't know, but it must be rising, dude. Check it out. It must be rising. I'm going to check it now. So it's not... U.S. strikes Iran. Wow, it has gone up, actually. Yeah, there you go. so US strikes Iran by the end of February is pretty much 50-50 and that got that was down a lot right at one stage yeah that has so this is not going to get any better yeah because after he kind of you know they cleared airspace and they didn't go through with it it really felt like that wasn't going to happen so we'll see but I'm not risking it over we're headline trading again right like in March last year.

54:43The market didn't necessarily like the Iran headline as much. Venezuela felt like it was kind of a good thing. That was a positive. I mean, this one does feel like it could go both ways. Action is as quick as Venezuela. We're going to pump. I like you say Venezuela. But also a lot of, I mean, you obviously hear about this, but like a lot of the Bitcoin hash rate comes from Iran, right? It was a point in time where 7 % of the hash rate of Bitcoin came from Iran. Now, we can't put a number on how much Bitcoin is owned in Iran, but the biggest miners in the world, private miners in the world, come from Iran because of the energy.

55:16But the difference between Venezuela and Iran is that Venezuela, the government, owned a ton of Bitcoin. We're talking about 600 ,000 BTC. And Iran is actually private. So it's not the government as much. But when you sanction a country so much, obviously, it ends up turning towards Bitcoin, which is technically its original intended use, right? So we'll see. Okay, we've got two more. love real vision what are your top three coin picks for 2026 um so tough dude yeah btc eath hype yeah i i would say at this level eath eath is still one that i'm drawn to i would say hyper liquid and i would say rekt on my three right now i'll do i'll do that let's do that eath hype rekt because it's also a nice basket right it's brand meme coin the utility alts and then the major yeah i like that and then finally ben's on youtube 2026 the brand coin year well who knows moonbirds are bringing out their coin we'll see how that goes um it i think it requires more than just being a meta let me put it this way just just bringing out a brand coin doesn't mean it will be successful i think it requires many many months years of building up a community and then a product and then a and then having success with that outside of web 2 too like pudgy penguins have done a good job of it and even then the coin is still having a little bit of trouble like it it's a lot but i do think that the teams that i see doing the most interesting stuff it is in that world for sure okay we're gonna say goodbye for the second time it feels like the margaritas are calling so we will we will see you again next week osf is coming on thanks so much for tuning in for anyone who who's at the show um or at the real vision conference come up and say hi to us we're here all day oh yeah i've got a uh session later and i know you have yeah to me and we're doing bowling with you hosted by faro i'm good at bowling watch out okay all right guys we'll see you again next time thanks a lot for tuning in peace out you obviously enjoyed the episode because you're here with me at the end.

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