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    The Bitboy Crypto Podcast

    FTX 2.0 China Connection (CCP Billionaire's SECRET PLAN!)

    Wed Jul 12 2023
    BJ's Wholesale ClubAlgoEthereumcredit crisisKuvavesDan Friedbergbaseball gameDefy ecosystemrap skills

    Description

    BJ's Wholesale Club offers gas savings for members. The Defy ecosystem is shutting down. Most people are in the negative when it comes to Algo, but some are still optimistic and researching it. Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic. Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic. A looming credit crisis in the US due to overleveraged firms in real estate and private equity. Kuvaves and AJ song could take Algo to the next level. Dan Friedberg's parents told him no, revealing a strained relationship between FTX and Dan Friedberg. The speaker attended a baseball game and had a great time. Algo's TVL has dropped from $200 million to $59 million. Staked Ethereum now accounts for 20% of the total supply. Coinbase one is the new platform that costs $20-30 per month and provides customer service. AJ surprised with his rap skills in this song.

    Insights

    BJ's Wholesale Club offers gas savings for members

    BJ's Wholesale Club provides gas savings for its members, offering them a way to save money on fuel expenses.

    Algo's TVL has dropped from $200 million to $59 million

    The Total Value Locked (TVL) in Algorand (Algo) has significantly decreased from $200 million in February to $59 million currently.

    Staked Ethereum now accounts for 20% of the total supply

    Approximately one out of every five Ethereum (ETH) tokens is staked, representing around 20% of the total supply.

    A looming credit crisis in the US due to overleveraged firms in real estate and private equity

    There is a potential credit crisis looming in the United States as many firms in the real estate and private equity sectors are overleveraged and may struggle to pay their debts if interest rates don't decrease significantly.

    Kuvaves and AJ song could take Algo to the next level

    The Kuvaves and AJ song has the potential to elevate Algorand (Algo) to new heights, attracting more attention and interest in the cryptocurrency.

    Dan Friedberg's parents told him no, revealing a strained relationship between FTX and Dan Friedberg

    The strained relationship between FTX and Dan Friedberg is evident as his parents advised him against pursuing further involvement with the company.

    The speaker attended a baseball game and had a great time

    The speaker had an enjoyable experience attending a baseball game, reminiscing about their favorite players and catching a ball at the game.

    Most people are in the negative when it comes to Algo, but some are still optimistic and researching it

    While many individuals hold a negative sentiment towards Algorand (Algo), there are still some who remain optimistic and continue to research the cryptocurrency.

    The Defy ecosystem is shutting down

    The Defy ecosystem, which encompasses various decentralized finance (DeFi) projects, is closing down.

    AJ surprised with his rap skills in this song

    AJ showcased unexpected rap skills in a song, impressing the chat and surpassing Cassius' performance.

    Chapters

    1. BJ's Wholesale Club offers gas savings for members
    2. The Defy ecosystem is shutting down
    3. Most people are in the negative when it comes to Algo, but some are still optimistic and researching it.
    4. Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic.
    5. Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic.
    6. A looming credit crisis in the US due to overleveraged firms in real estate and private equity
    7. Kuvaves and AJ song could take Algo to the next level.
    8. Dan Friedberg's parents told him no, revealing a strained relationship between FTX and Dan Friedberg.
    9. The speaker attended a baseball game and had a great time
    10. Algo's TVL has dropped from $200 million to $59 million
    11. Staked Ethereum now accounts for 20% of the total supply
    12. Coinbase one is the new platform that costs $20-30 per month and provides customer service
    13. AJ surprised with his rap skills in this song
    Summary
    Transcript

    BJ's Wholesale Club offers gas savings for members

    00:00 - 05:56

    • Darius Rucker loves South Carolina and its attractions
    • Air Plus provides fast and easy plumbing solutions
    • The podcast host talks about the date, time, and location of the show
    • There is a discussion about different convenience stores like 7-Eleven, Wawa, and Bucky's

    The Defy ecosystem is shutting down

    05:41 - 11:15

    • AJ is okay, he didn't come into work today
    • There are new items available on Hit Merge
    • The speaker feels guilty for killing a snake and apologizes
    • A shoutout to someone named Sme who was against killing venomous snakes
    • Coin market cap is up by around 1.2%
    • Bitcoin is up by 0.8% and ETH is flat
    • Cardano and Solana are up over 1%
    • Polygon was up by 5% but now up by 4%
    • Compound is the top gainer, up by 11.5%
    • Algorand is the top loser, down by 14%

    Most people are in the negative when it comes to Algo, but some are still optimistic and researching it.

    10:58 - 17:00

    • The speaker plans to acquire Algo in the next bull market.
    • They discuss their favorite Street Fighter characters and cooking preferences.
    • The speaker is bullish on the charts and sees a potential pullback coming.
    • Institutions are pouring money into Bitcoin funds, indicating market interest.
    • There is a possibility of a quick impulse down before further upward movement.
    • If there is a pullback, buying opportunities may arise at certain price levels.
    • Algo has been impacted by SEC claims, but could perform well once it starts running.

    Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic.

    16:39 - 22:55

    • Pay attention to global liquidity and the Dixie for potential Bitcoin market impulse.
    • Be patient and wait for tomorrow's CPI read before making any moves.
    • Volatility is expanding, indicating a big move is coming.
    • There may be a fake out before the breakout happens, so be cautious.
    • Bitcoin dominance at 60% could lead to Kelly cooking a steak.
    • US lawmakers are calling for an investigation of Prometheum's alleged ties to the Chinese Communist Party.

    Algo has been impacted by SEC claims, but when it starts to run, it will be fantastic.

    22:30 - 28:35

    • Aaron Kaplan and CEO Benjamin Kaplan claim concerns on ties to China are without merit
    • All co-development work and relationships with Wanchain have been terminated
    • No access to information that could expose the US or citizens to risk
    • Uncertainty regarding the existence of a backdoor in Prometheum's system
    • Technical analyst John Bollinger suggests Bitcoin is experiencing a squeeze
    • Diminishing volume combined with the squeeze creates mounting pressure for a breakout move
    • The longer the Bollinger bands tighten, the closer the resistance and support levels become
    • Chamath Palihapitiya warns of a looming credit crisis in corporate America due to rising interest rates

    A looming credit crisis in the US due to overleveraged firms in real estate and private equity

    28:13 - 34:17

    • Many companies will struggle to pay their debts if interest rates don't decrease significantly
    • Strict guidelines will require overleveraged companies to be recapitalized, resulting in trillions of capital impairment
    • VC funds may see significant losses as the value of privately traded companies decreases
    • 93% of central banks are exploring Central Bank Digital Currencies (CBDCs)
    • The survey conducted by the Bank of International Settlements included 86 central banks representing a large portion of the world's population and economic output
    • CBDCs are likely to be implemented, but it is important to remain educated on the topic and aware of potential government overreach

    Kuvaves and AJ song could take Algo to the next level.

    34:00 - 40:06

    • Ben is here, but his connection is not stable.
    • Seattle Space Needle visit during Elsport game.
    • Accumulation market, ignore top signal talk about Bitcoin.
    • Katy Perry's tweet about her fingernails is not a top signal for crypto.
    • Prometheum news caught Washington insiders by surprise.
    • An employee from Prometheum leaked information about the Chinese involvement.
    • Aaron from Prometheum has been making appearances on other shows but avoids tough interviews.
    • Ledger's appearance on our show was tough and we asked hard questions.
    • Sam refused to come on our show due to tough questioning.
    • Dan Friedberg's lost between FTX and Dan Friedberg discussed previously on our show.

    Dan Friedberg's parents told him no, revealing a strained relationship between FTX and Dan Friedberg.

    39:36 - 46:08

    • Joe Bankman hired Dan Friedberg, which is an interesting detail.
    • The hosts of the show are determined to ask tough questions and hold people accountable.
    • CZB connections are real and accurate, with Congress starting to push back against them.
    • Gary Gensler needs to lose his job according to the hosts, who believe he is corrupt and incompetent.
    • Gensler's involvement with Permysium shows his master plan to trick everyone while being incredibly incompetent.
    • Congress is now investigating Gensler, which the hosts find hilarious.
    • The hosts discuss their experience at a home run derby where they caught a ball signed by Randy Arozarena.

    The speaker attended a baseball game and had a great time

    45:40 - 51:46

    • They tried to bet on Vlad Guerrero to win the home run derby but couldn't
    • The speaker caught a ball at the game, but missed another one that went over their head
    • They grew up watching the Braves and admired players like Ken Griffey Jr. and Frank Thomas
    • There was a joke about elbowing their son to catch the ball, but it didn't happen
    • The speaker is grateful for their life and encourages others to find their passion
    • They mention an inside joke about Chaz and encourage people to check it out
    • The podcast transitions to discussing Algorand (Algo) and Algo Phi shutting down
    • Algo Phi was a DeFi protocol on Algorand that couldn't be maintained at its highest standard
    • The TVL on Algo has dropped significantly from $200 million in February to $59 million now
    • The previous all-time high of Algo was close to $2, but it's currently around $0.09-$0.10

    Algo's TVL has dropped from $200 million to $59 million

    51:20 - 58:01

    • Uncertainty about Algo's future performance
    • Multi-chain protocol suffered a $130 million exploit potentially orchestrated by the Chinese government
    • Rumors of CEO's arrest and confiscation of funds
    • Microsoft partners with Axilar for hybrid blockchain solutions
    • Axilar becomes the first cross-chain protocol listed on Microsoft's Azure marketplace
    • MetaMask brings layer two blockchain, Linear, to Ethereum mainnet
    • Roll-up networks offer cheaper and faster transactions compared to the congested parent network

    Staked Ethereum now accounts for 20% of the total supply

    57:32 - 1:03:43

    • One out of every five ETH is staked, totaling around 45 billion percent of the circulation
    • Jersey Mike's sub with onion, lettuce, tomatoes, oregano, and juice is recommended
    • A milestone in crypto has been reached with one out of five ETH being staked
    • Redman's episode on MTV cribs is highly entertaining and worth watching
    • Interesting information about Napoleon and some quotes are shared
    • Breathe convention coming soon from September 13th to the 15th in Vegas
    • The BIS guy is described as the world's most unhealthy human trying to control others
    • Demonization of paper money is starting, with attempts to associate it with terrorism and illegal activities
    • Colleges are shown to be a scam through a graph comparing tuition versus inflation rates
    • Facts about Barisma and China energy are shared without delving into conspiracy theories
    • Censorship on YouTube is concerning and should be addressed
    • @DanGoFitness on Twitter provides valuable fitness advice without promoting toxic content or vague mental health topics
    • @Tim has high testosterone levels demonstrated by his bench press strength of 315 pounds for three reps
    • El Salvador's Bitcoin experiment is discussed, highlighting positive changes despite negative media coverage
    • Vanguard owns a significant stake in Riot Platforms, one of the largest publicly traded Bitcoin miners
    • The characteristics of a Ponzi scheme are contrasted with those of Bitcoin

    Coinbase one is the new platform that costs $20-30 per month and provides customer service

    1:03:30 - 1:09:33

    • Arbitrum and Chronos are among the top five crypto assets predicted to reach a value of zero
    • Sand, E-Gold (aka Multiverse X), Solana, Polkadot, and Avalanche are also at risk of dying in the next few months
    • Arbitrum has made improvements to its protocol and scalability, making it favorable for adoption
    • Crypto.com's domain name and user-friendly features may attract mainstream users in the future
    • XRP experienced a flash crash on Poloniex but it was likely just a technical glitch
    • The plunge could be related to network maintenance but it's unclear

    AJ surprised with his rap skills in this song

    1:09:07 - 1:15:00

    • The chat agrees that AJ's lyrics and flow were better than Cassius'
    • BC Vault received positive feedback from the team
    • No crypto questions were asked earlier
    • Tim and Beasy considered starting a podcast together despite their disagreements
    • It's important to have people in your life you disagree with
    • Political differences should not lead to hatred or division
    • Pluto Alliance NFT grants free access to the newsletter
    • BJ's Wholesale Club offers gas savings for members
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