It's a Free for All!!!

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this podcast is a financial advisor and all information presented on this podcast is for

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informational purposes only.

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Now that we have the legal stuff out of the way, let's jump on in.

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Welcome to the Generational Wealth of Cryptocurrency podcast.

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I'm your host, McIntosh, and today is going to be a bit of a free for all.

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So it's two o'clock in the morning as I start recording this.

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I have spent the last two or four hours dealing with moving a number of websites from one

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account to another and the work is not done.

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Behind the scenes for the last several months, I've been attempting to deal with some things,

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make some changes to some infrastructure or whatever you want to call it about how we

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manage some different websites that we have.

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And to be honest, it's been a bit unsuccessful.

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So yesterday when I wrapped up at three or four o'clock in the morning, I made the decision

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that we were going to switch course, that we were going to go another way and that's

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what we're doing.

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And so I've started that process.

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It's not ideal what we're going to end up doing, but I have to put all this behind me.

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I'm frankly spending way too much time working on it.

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So I do apologize.

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Maybe I'm a little flat tonight and I'll be honest, it's probably going to be pretty short

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tonight.

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But I do want to jump on.

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There is a little bit of news.

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The Bitcoin price, crypto price has been all over the map.

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We, I don't know, we spiked down actually yesterday afternoon around 6 p.m. heading

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into the seven o'clock close for the day.

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We hit some pretty low levels for recent, 37 something like 37.3 I believe or so.

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We certainly saw a liquidation spike happen or drop really in this case.

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People in longs got liquidated and you know, crypto twitters, if you follow that, which

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maybe you shouldn't, but if you do, you know, it's pretty dismal place right now.

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I think a lot of people are very discouraged.

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I just posted an article on Stacker News earlier today as kind of a follow up to the last episode

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that we recorded, Viva la Revolucion, if you remember.

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This is a Bitcoin specific site, so I called it Viva la Revolucion de Bitcoin.

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Long live the Bitcoin revolution, which is roughly, which basically I hope is what that

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translates to.

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These things don't matter and that's the problem.

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We let them, we let them affect us, but they don't matter.

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I was listening to a YouTube video here literally just a few minutes ago while I was working

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on these websites and it's a guy that I've only started, I've actually, I caught him,

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I don't know where, actually I saw him originally, maybe on BitBoy, on their Around the Chain

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afternoon show or whatever.

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His name is Jason Casper, J-A-Y-S-O-N Casper, like Casper the Friendly Ghost.

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And I haven't listened to a whole lot of his videos.

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He is a bit unique.

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So apparently, actually he said on this video, I think he said, well, he's fairly young,

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I'm not going to say because I don't know for sure.

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He's been in for a bit.

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He's made some money, obviously.

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He homesteads actually and in fact, he has videos on there about his chickens.

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And frankly seems to be, in my opinion, a very humble person, which is very difficult

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to find in crypto.

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And he put a video out today, this says 16 hours ago, well, Sunday, probably Sunday morning,

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how to handle huge losses, trading.

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And these things happen.

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And this is why so many people, frankly, don't succeed in trading.

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They have a large loss and they give up.

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They don't learn from it.

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And he was talking, and this is happening to a lot of people right now, and that's the

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honest truth.

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There are people who are, they're getting wiped out.

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And if we continue down, which now we've gotten a bounce up, we're actually right at 39,000

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right now.

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So I don't know if it's going to try and go up and maybe break on up into the 40s and

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try for 50 again, or if we're going to go back down, we'll see.

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According to the TA that I've got drawn out, we're actually have broken, I believe, slightly

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above the triangle, the wedge triangle that we're in.

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So there is a possibility it could move up or frankly, it could come back down.

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Anyways, back to my point.

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This video is an hour and a half.

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I haven't even listened to a third of it.

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And I just had to stop and tell you guys about this.

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If you spend any time on YouTube listening to people, you need to make him one of your,

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part of your rotation.

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And if you are a trader, you need to listen to this video.

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And he talks and I don't want to steal his thunder.

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At some point, I'm going to copy his notes out and I'm going to start talking about them

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down the road.

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I certainly don't want to be, you know, I would want to direct everybody to him first,

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but there's such good information about protecting yourself, how to keep these things from happening.

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You don't have to have huge losses in trading in order to win.

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Now, almost all of us do as kind of an initiation, right?

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If you want to call it that, but we have things that can keep that from happening, right?

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Stop losses, which I've all I've talked about before, being patient, not jumping into trades,

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so on and so forth.

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I'll please go listen to his video.

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It's a great video.

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So that's, we're going to talk about some news.

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There's not a whole lot of news yesterday, actually.

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Most of you have at least, well, I'm pretty sure anybody who listens to this has heard

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of the Bordate Yacht Club, NFTs, one of the original NFTs.

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They've been around for a long time.

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Maybe not original, but one of the early NFTs, and they've done astronomically well.

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They sell for hundreds of Ethereum at this point.

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Well, the company behind Bordate is not, I guess, satisfied with kind of what they've

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done so far.

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So they had the Bordate, then they have the Mutant Apes, which are kind of another set

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of apes, which they're doing well.

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Well, now they're creating a virtual reality.

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And people are buying land, virtual land, in that.

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And I don't know how else to describe it beyond that.

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Some of this stuff, frankly, to me doesn't make a whole lot of sense, and maybe it does

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to other people, but that's how they describe it.

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And they are selling, actually, they're selling NFTs that are essentially deeds to land in

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this new virtual reality.

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And they, so one of the things that they've done recently is they've rolled out a token

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called Ape, Apecoin.

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And so you have to buy the NFT deeds to this virtual land at Apecoin.

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Well, the Apecoin is based on Ethereum.

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It's an ERC-20 token, which means really it travels over the Ethereum network.

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And when they did their auction yesterday for these virtual lands, it generated such

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traffic on the Ethereum network that gas fees, I believe, hit thousands of dollars, I think

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the highest I saw, at least from other people, so secondhand, but it's like $6,000, which

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is just ridiculous.

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And of course, it's all based on traffic.

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They sold something like $400 million worth of land, so to speak, within that auction.

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They had far more interest than they expected, and they just basically overwhelmed the system.

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Now, they're talking about, hey, we need to move off Ethereum.

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There's actually things that they could do.

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They blame it on Ethereum.

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Well, it's simply a traffic issue.

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They could build roll-ups to handle this.

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I don't want to go into all that, but who knows what they'll end up doing?

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It was kind of interesting seeing what they were saying after the fact.

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But that's kind of the news of the weekend.

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Upcoming this week, I would like you to be aware, the federal foam sea, federal, I don't

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know what it stands for, sorry, meeting notes, Powell's group, they're going to release the

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notes.

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And so, I think that happens, I want to say mid to late week, and so that will officially

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set the interest rate that the government, you know, loans money to banks.

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And so, we expect it to go up, I believe it's half a point, is what people think.

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If it's different from that, if it's higher than that, you know, the market's going to

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keep crashing.

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If it's lower than that, maybe they'll get a spike.

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If it's the same, it probably won't make, if it is half a point, then they probably won't

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make much difference.

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Because that's what they came out, I don't understand, to be honest, and maybe at some

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point somebody can explain it to me, but they have the meeting and basically it comes out

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what they're going to do.

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And then they, what, two weeks later or so, then they release the notes, which officially

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confirm what they're going to do.

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And I don't know.

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It's like this double whammy when bad news is coming out.

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I don't know, it's kind of crazy.

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But that is coming out this week.

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I believe we've got some more earnings.

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The earnings reports for some of these large companies, tech companies, has been very interesting.

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I'm sure you've probably heard Netscape, Netscape, well, there's a blast from the past.

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Netflix had a huge drop recently.

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Apple did not do as well as they expected, although I don't think its stock has gone

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crazy down.

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Amazon had a huge loss, far, I think they dropped like 25%.

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I mean, there's some astonishing, actually it kind of makes the crypto market look pretty

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safe, which is very weird.

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But anyways, there's still a lot of stuff to navigate, of course, the stuff in Europe

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is still ongoing.

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I would still continue to say, as I've been saying over and over, I know I sound like

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a broken record, be cautious.

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If you haven't been trading, you probably shouldn't take it up right now.

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If you are trading, please be extremely careful.

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Do not risk more than you can afford to lose.

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You should not be risking all of your assets all at once.

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You shouldn't have stop losses in place.

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You should be patient.

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You should be careful and so on.

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There's no sense in talking about trading strategies until we get these things right.

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Because if you can't manage your risk for your asset, then you're going to end up losing

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it.

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So just be safe.

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As we wrap up, I heard another guy on YouTube actually say this, and I've said things along

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these lines before, but I want to reemphasize this because this is so important.

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I know when price goes down, it hurts, it feels, it's like, oh, Bitcoin or Ethereum

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or ADA or whatever, it's letting us down.

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If you have a quality product, Bitcoin, Ethereum, ADA, some of these other projects, you should

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look at these as buying opportunities, as opportunities to create true wealth.

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It's one thing to make money.

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It's one thing to buy in as the price goes up.

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But if we get us, let's just say, let's just say for the sake of argument, Bitcoin drops

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to $20,000, Ethereum drops to $500.

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What are you going to be doing?

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Are you going to be crying or are you going to be buying?

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Crying or buying?

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There's a little saying for you because that's the opportunity.

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Well, yeah, actually, if Bitcoin dropped to $20,000, actually, potentially, Ethereum might

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drop down to $200 or so, maybe even a little less, which would be phenomenal.

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I'd be like, I'd be buying so much Ethereum, Bitcoin, I'd buy as much as I possibly could

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and then maybe some more.

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So in the long run, that is what's truly going to create huge wealth for you.

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So just keep that in mind in these really uncertain times.

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I will put a link in the show notes to the Stacker News article.

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I would love it if you would come over and support that.

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That's another way of supporting the show.

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The Generational Wealth of Cryptocurrency podcast is a value for value podcast with no sponsors

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and no advertising.

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You can support the podcast in three ways with time, talent, or treasure.

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If you want to support the podcast and have some time or talent, I could use some help

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with things such as chapters for the podcast, transcriptions, and probably a few other things.

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Treasure is just what it sounds like.

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If you find the content valuable, you can support the podcast by streaming Sats from

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a Podcasting 2.0 app or sending support via PayPal to mcintosh at genwealthcrypto.com.

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You can get a Podcasting 2.0 app for the optimal listening experience at thenewpodcastapps.com.

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If you like the content, I would love it if you would tell your friends about the Generational

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Wealth of Cryptocurrency podcast.

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That really helps.

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Hey, thanks for being here.

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I hope this has been helpful.

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I would love to hear from you.

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I'm on Twitter at McIntosh Fintech and you can reach me by email at mcintosh at genwealthcrypto.com

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and of course, the Generational Wealth website is at genwealthcrypto.com.

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Now go out and make it a great week.

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