Episode 7: Crypto’s Big Week: Coinbase, Robinhood, and MoonPay Making Waves

(0:00) Hey everyone, good morning from Canada. This is JR founder and CEO of social market and this is Leon CMO of social market (0:06) And this is social ledger report. Yeah, we’re in Toronto.

We’re here for consensus and (0:11) We actually gonna be in person this time. Yeah (0:14) It’s been great (0:16) Consensus has been it’s been fun. It’s (0:20) It’s also a really good time for the crypto conference because the United States and the regulatory environment like it (0:27) It’s so different than what it was (0:31) You know under the Biden regime as Eric Trump put it on stage, yeah, so (0:37) There’s a lot of great speakers happening here in Canada.

There’s Eric Trump. There is Kevin O’Leary (0:43) The founder and not another names, but like the founder of one or five which more to come on that (0:50) Ripple is here, you know polka dot (0:54) Big players in the space are here. So it’s pretty exciting to see all that, you know, everyone coming together (0:59) The stage got packed when Eric Trump came in and when Kevin O’Leary came in so yeah, there were VIP (1:05) Speakers so it makes sense the keynotes and now but you know when we’re saying big players, you know (1:11) That’s that’s a great lead-in to the coinbase part.

Yeah, our coinbase is now a part of the S&P 500 (1:18) Yes, one of the first (1:21) Crypto companies. Well, I think that they’re the only crypto company that is the S&P 500. They’re (1:27) it’s (1:28) it (1:29) It allows now (1:32) institutional investors like retail investors everybody to actually (1:37) Become like invested in crypto without investing in crypto per se like there’s some ETFs like with Bitcoin and all that (1:44) but more or less like (1:46) Most people don’t have exposure every day to crypto and with this it’s gonna allow (1:52) Everybody to have exposure to crypto and I think it’s (1:55) Again kind of making crypto mainstream.

I was too young to do (2:01) Internet.com boom, but same. Yeah, I was I imagine this is that for the most part (2:06) I was still in the fetus. So I was not there in person.

But yeah, it was this is another opportunity (2:12) For the dot. Well, a lot of people who have been in the space say that crypto really is just the next dot-com boom (2:19) and if you remember back in (2:20) 2021 (2:22) 2022 that was kind of like the peak of it and then it just came crashing down (2:25) We were at a bear market for a while and now it’s slowly picking up and we’re starting to see more adoption more (2:31) Normies if you will just get into crypto (2:35) understand what Bitcoin is or don’t understand it, but in the least they’re still buying so (2:40) This is part of like the first step into it. Yeah, there’s a lot out there (2:46) Like company-wise that could have done this but coinbase being the longest being the you know, the most (2:55) Vocal of all of them really shows like crypto is becoming a staple in everyday life (3:01) It is showing that you know, like the bear market was because of right regulation (3:06) You know that CC was suing every single person that they could find.

Yeah, if you sneeze the wrong way they sued you (3:14) So it’s just it’s (3:17) It’s kind of the progression that we needed it’s giving way more (3:21) Credibility to it. It’s like what Kevin O’Leary said on stage yesterday. He was like crypto needs more regulations (3:27) I don’t think that’s the right kind of way to say it.

It’s yeah, it’s very clippy (3:31) I agree crypto needs frameworks like we were talking about this last night (3:36) You know Bitcoin. What is it? It’s probably an asset stable coins or probably currency these other ones. What are they? (3:42) Securities are they utilities? Is there you know, is there something as soon as the government defines all that stuff? (3:49) It’s gonna be easier for (3:51) Big companies coming to do it.

This is the first step because now they have to look at it (3:56) You have the genius bill coming through you’ve got a bunch of other crypto bills working its way through Congress in some fashion (4:03) Yeah. Yeah, so I agree with you at first I was thinking for a long time (4:08) Maybe I was thinking yeah crypto needs to be more regulated (4:10) there needs to be a framework that we cannot follow for both businesses and users or consumers if you will, but (4:17) Just because it’s getting regulated. It doesn’t mean that it needs to cut corners and make the sorry (4:23) My partner here is a little bit sick for the trip.

But um, yeah (4:26) Yeah (4:26) so so Leon’s point the framework that we all need is (4:30) Something that isn’t oppressive or a government or overreach on that sense where you know, you know taxes (4:37) it’s a very understandable, but (4:38) There needs to be a framework for both enterprises and users to understand like is Bitcoin an asset is it like gold (4:46) What is XRP? It’s not a utility and here’s why yeah, like XRP that sort of thing good example (4:52) Like yeah, it’s supposed to be a currency remittance, but when you sell (4:55) ripple (4:57) You have a tax event (4:59) On capital gains. Yeah, like maybe you shouldn’t have that on certain types of crypto. I agree (5:06) I don’t know.

I don’t know how stable coins work exactly on the taxes. I’d have to ask but (5:11) That’s a good question of like if you buy stable. Well granted they buy stable coin.

There’s no capital gains on it. So (5:18) It’s always a dollar (5:20) Yeah (5:21) yeah, so to that point exactly like we would not be so confused during tax filing season if (5:27) There was that clear framework to say the least there (5:30) So I think that’s about everything I have to say with the S&P but yeah, I mean Coinbase is going up and we do have (5:38) Next story is about Coinbase actually (5:43) Being victim of cyber crimes. So this is from Twitter.

There’s this post that was made by Coinbase (5:49) It says cyber criminals bribed and recruited rogue overseas support agents to pull personal data on less than 1% of Coinbase (5:56) MTUs no password private. No, no passwords private keys or funds were exposed (6:02) So it looks like our money is fine (6:04) But if you live overseas and your account Coinbase user then this is more than likely affecting you (6:11) I’m a Coinbase user your Coinbase user. I don’t think we’ve gotten an email saying hey, you know you your data was exposed (6:18) so (6:19) If you live in America if you live in the West, there’s a good chance that maybe you’re not affected (6:24) yeah, and I think the important part here that they said is they’re gonna reimburse impacted customers because I think it was a (6:30) Phishing kind of scam.

Yeah, and that day (6:34) Okay, so there’s this post from Brian where he kind of just openly talks about like the situation (6:41) I’m gonna play it real quick. It’s gonna be double the speed (6:45) Hey everyone. I want to make you aware of a disturbing email that we received recently at Coinbase (6:49) It was a ransom note demanding 20 million dollars in Bitcoin in exchange for these attackers not releasing some information (6:54) They claim to have obtained on our customers (6:57) Now I’d like to do things transparently here at Coinbase (6:59) And so I’m gonna respond publicly to these attackers by saying no, we are not going to pay a ransom (7:03) In fact, I have a few next steps in mind.

I’m gonna share at the end of this video (7:06) Yeah, but for the rest of you watching wondering what happened (7:09) We did an investigation here and these attackers have been approaching our overseas customer support agents (7:14) Looking for a weak link someone who would accept a bribe in exchange for sharing some customer information with them (7:18) Now our support tools have limited access to customer information (7:21) There was no passwords or private keys or funds accessed as part of this (7:25) But customer support agents do have access to personal information like name, date of birth, address, etc (7:28) The attackers still want access to this information because it allows them to conduct social engineering attacks where they can call our customers (7:34) Impersonating Coinbase customer support and try to trick them into sending their funds to the attacker (7:39) Now unfortunately, they were able to find a few bad apples (7:41) Our systems are designed to mitigate the impact of something like this. So less than 1% of our monthly transacting users (7:46) Had their records accessed but this is still unacceptable. I want to tell you what we’re doing about it (7:51) So first any customers that were socially engineered as a result of this incident, we’re gonna reimburse them (7:57) There’s more details on our website on our blog post (8:01) Yeah, we reimburse them I wonder if it’s covered under their cybercrime insurance though (8:05) Yeah, so Coinbase as a central exchange does have a partnership with I’m not sure what provider but they do have (8:11) That’s how they’re able to provide insurance getting any kind of setting up any kind of (8:16) insurance business does have a lot and I mean a lot of (8:20) Litigation a lot of things you need to get licenses with and comply with the law (8:24) So what businesses do is they partner with a provider kind of like with moonpay with a custodial wallet self custody wallet like phantom (8:33) Otherwise phantom would become an exchange.

So here I think you know reimbursing your customers (8:39) It’s something I should already be done. You know, we’re starting social market, you know, if we were to (8:45) affect our customers we would want to at least do something to that extent as well because (8:49) Customers are what make companies customers are what you know, we want to focus and helping him, you know the problem that they’re having so (8:58) Coinbase here and Brian Armstrong are showing exceptional leadership (9:01) I don’t think I’m gonna play the rest because you kind of get the gist one thing he did say in the end though is (9:06) That he is putting 20 million dollars (9:09) Instead of paying that amount of money to the to the hackers (9:12) They’re going to give that to anyone who has a lead on (9:16) them to lead to an arrest (9:19) Yeah, so here we look at the comments everyone pretty much (9:23) I mean you can read these comments on your own if you’d want but a lot of them are you know, just talking (9:27) Well, there’s this meme but I’ll get to in a moment (9:29) Everyone is praising him. We’re seeing a little bit of mixed feelings a little bit here and there for the most part (9:36) So for in this post, for example amazing offer I get (9:41) Coinbase gets cheap labor and you get kidnapped (9:42) so that’s kind of like the biggest issue that we’re seeing that in France this week, which you know, somebody was getting kidnapped because (9:50) We’re not gonna cover it because it’s not as a big story (9:53) Well, it kind of is but we have all the big stories won’t talk or talk about (9:58) so (10:00) Since people were getting kidnapped in France, you know now (10:04) That’s an existing fear that people have especially overseas it’s more common overseas and I think it’s in America (10:09) Especially happening in the great bright daylight.

Yeah, also the problem that I have with the cheap labor is (10:15) even if it was America the (10:16) Person that somebody would have been social engineer. It’s somebody would have taken a bribe and still done it like I (10:23) Like the meme but also I don’t think like humans are valuable no matter where they are in the world (10:28) Yeah, they’re I mean, you know people are people and (10:32) Lives are precious so (10:35) Coinbase released this statement on their blog personal site, you know talking about the extortion talking about everything (10:42) So we’re gonna leave that link in the description as well. You can read more a bit on your own now (10:48) This is everything we’re gonna share, but we were looking on Twitter more trying to learn.

Hey, you know what what’s happening? (10:54) Really? Is there anything new that’s coming out in regards to this hack? So (10:58) famous influencer on the crypto space Wendigo (11:02) She said that hey, you know this hack is a lot worse than what was reported initially (11:06) They knew what the right path was but chose to profits over their loyal customers (11:10) Typical of corporate America, but it doesn’t make it right. So (11:16) That’s a very polarizing comment so I had to dive in deeper and (11:21) Ariel Geneva (11:23) Jiffner, I think that’s how you pronounce her name (11:25) She’s a she’s a web 3 lawyer, which you don’t see a lot of those in the space (11:28) But I guess slowly you’re starting to so she did a thorough investigation (11:34) The SEC actually did come out with some of these (11:37) some some of these (11:39) Things I’m about to show you what’s actually filed with the SEC and I’ll put her whole thread here on the description as well for (11:44) You to read but people are terrified if we look at this post that was probably sent from telegram (11:51) Hey Ariel, I was notified this morning that I was in the 1% Bitcoin based data (11:55) It is in it is my on and off ramp my license my home address bank info amongst other things were leaked (12:02) I’m afraid that I or my kids will become a target. Is there anything I can do here? (12:06) So, I mean that’s as the comment says, you know aerial response.

You can read that on your own if you’d like (12:14) and here you can see kind of everything so (12:17) what I want to highlight real quick here as a last closing point is (12:22) banks are are (12:23) required to file any (12:25) Hacking of any clientele information within 36 hours for businesses in America. It’s 60 days (12:32) So there’s that window and one comment that someone said was hey (12:38) Where should an exchange where should crypto fall on this hand because it kind of mixes between crypto like money and business (12:45) So we’re kind of still early with that and this is part of like the demand that we need for you know (12:50) A (12:52) regulatory (12:53) Frameworks that can help both businesses and consumers (12:57) Be protected because this is why everyone’s losing their money and information. Yeah, I think (13:04) the comments of like, you know (13:06) They put profits over people is just polarizing because I don’t I think Coinbase did everything right? (13:13) Like and then like they disclosed it like, you know, we started talking about it (13:18) It’s you know, they found out the 11th and then they said something yesterday.

So from the 11th to the 15th (13:23) Yeah, so this was this was reported to be out on the 11th and then just yesterday the 15th as a recording of this video (13:30) It’s Friday. So on Thursday, that’s where Brian Armstrong came out Coinbase came out about it the leak (13:36) Yeah, but I feel like that’s a fair timeline (13:38) Like you have to investigate you have to figure out who it is (13:41) You have to notify the FBI you have to you know, do all of that like (13:44) if they had that (13:46) Like I do think that there it shouldn’t be 60 days (13:48) I think it should be less, you know in general (13:50) Yep (13:51) but I think Coinbase timeline is fair like if they would have told us 36 hours after like most banks have to I bet you (13:58) They would have just said hey, we had a breach and some customers are impacted. They wouldn’t have known everything by then like (14:04) They might have said 1% in there and then you know, the same thing would have happened (14:08) It would have just trickled out over time (14:11) but I (14:12) Think they did the right moves like, you know (14:16) It’s it’s the right thing, you know, maybe putting a bounty on who the actual people are is a little (14:23) antagonizing for them, but (14:25) Yeah, no, I get it.

But I understand the fears and worries anybody in Europe anybody (14:31) Really could could be a victim of kidnapping, you know (14:34) Like if these folks have crypto and there’s a large sum (14:38) Anywhere they’re traveling like they could become a target even in America like it’s possible and we just don’t see it as often like I (14:44) Don’t know (14:45) Well, you know what there was that streamer. What was that streamer that her house got broken into for the crypto? (14:50) Oh Emorin, but that was like a couple of months ago. But yeah, it does happen like even in a machine is American, right? (14:57) She is from where we’re from.

She’s from Texas. Okay, so (15:01) Anywhere, yeah, I just think the Americans less less common so far, but I I get their worries (15:06) I just I don’t know what Coinbase could have done instead like (15:10) There’s no good answer to that. Yeah, there really isn’t (15:15) There’s only speculation I think the very polarizing comment that Wendy made is justified (15:20) That was my initial thought as well.

But when I read more through it, I heard Leon’s thoughts (15:26) I became more, you know centrist on the thought where it’s like, okay. Well, I can see both sides (15:32) I can understand what where they’re coming from (15:35) We’re business as well. We’re trying to create one at least so we would do everything we can and try to be as (15:42) Open with our customers as we could and they’re reimbursing people.

Yeah, that’s it’s it’s not putting them profits (15:49) Like, you know, the only other next thing they could have done is, you know, give them (15:53) like a (15:55) Identity theft insurance like that. That’s the only thing but you know, they can’t they’re not gonna spend money (16:00) You know securing every single person 1% of you know users. That’s that’s still a large number (16:06) So I I just always kind of see it from the business perspective because that’s where I operate all the time (16:12) Yeah, like I get it and then there’s definitely businesses that don’t handle things right and I’m like, oh fuck them (16:17) Yeah, I agree.

So Coinbase I think they’re doing decent for now. So let’s see what happens. Maybe we’ll have more updates next week (16:24) Great.

So that’s pretty much it for Coinbase. The next topic we’ll be talking about is Robin Hood (16:30) taking over or (16:32) Acquisitioning one or five here in Canada. Yes, so Robin Hood American they do crypto they do (16:41) Also the (16:43) The they do crypto they do stocks so both of those they have options trading everything (16:48) Wonderfly is a Canadian crypto trading platform and it looks like instead of Robin Hood (16:54) Just opening up access to the Canadian market.

They just did an accue higher acquisition regulation (17:00) Push to get into this and you know, the wonderful ICO was on stage yesterday talking about it (17:06) It’s obviously, you know a great thing for him in the business, but also it’s gonna give Robin Hood (17:11) you know a really big push into Canada and Canada’s got a (17:16) lot of opportunity for (17:17) the crypto space to become hot kind of like it is becoming in America the that thing that everyone’s talking about is (17:24) that Canada and these other countries, you know all over the world like even Europe is (17:30) Worried about crypto while the United States is leaning hard into it if more countries lean into it (17:34) It’s gonna benefit everybody in the world. I (17:37) Agree, I’m trying to look right now in the app. Who what was the event that um, I (17:43) Forgot his name, but the CEO of one or five (17:46) He was on main stage in consensus and you know, I was there (17:49) But he was it was him and two other people the one who was doing the interview and the CEO himself (17:55) Yeah, so yeah actually a big week today because this week because (18:00) His daughter turned one year old and now the company got acquisitions.

So he’s having a crazy hell of a week, which good for him (18:08) you know, I think that’s the dream most of us founders want to be in some point so (18:13) Very very excited for Robin Hood very excited for one to five on that regard (18:17) Yeah, now I think the important part is crypto and Canada is gonna have a lot of financial backing (18:23) There’s gonna be a lot of noise for it. There’s a new prime minister. That seems much more friendly to crypto (18:29) and I guess the big push is gonna be getting more countries all over the world to (18:35) Really adopt crypto in a strong way (18:40) Yeah, so the founder and CEO is Dean Skirka (18:44) He was at the conference event called cryptos next chapter Kevin O’Leary and Dean Skirka insight take so (18:53) We have some footage (18:54) I don’t know if we can add that on the separate video kind of just to highlight some of the (18:58) Conversations that happen throughout consensus.

We can put his interview link doesn’t consensus put him online. I (19:04) Believe so. We’ll look at that by this time (19:05) You would have already seen the link if it’s there and if it’s not well (19:09) We’ll upload something but you will you will see that conversation happening and it was with Kevin O’Leary (19:15) Here in Canada, you know seen Kevin O’Leary in person.

It was kind of surreal and (19:20) You know him and Leon and I have both different opinions about Kevin O’Leary or shark tank as a whole but (19:27) Kevin O’Leary is very well-spoken (19:30) he he understands and recognizes the impact that he had at FTX and (19:36) How it all went crashing down with SBF just by being involved with SBF (19:40) It kind of tarnished his reputation. So maybe he’s doing like crowd control still but you know (19:46) He came out on stage saying hey, you know (19:50) His time with SBF helped them learn a lot and now he’s more focused in (19:55) Creating a regulatory landscape for this for the industry because he wants institutional (20:01) Investors in it like large large companies putting yeah, you know (20:06) pensions putting retirement plans all into crypto and (20:10) To do that you need you do need regulation. You need frameworks.

Yeah (20:15) So that was pretty much what could happen in consensus one if I is getting acquired by Robin Hood, which is huge (20:23) What do you what do you think Leon? Do you have any other thoughts? No. No, I think this kind of covers it (20:27) It’s it’s really gonna be a progression over the next couple weeks and months on what’s happening (20:33) Yeah, so one more thing we’ll talk about is and I probably should have done this a little bit sooner. So coinbase a (20:42) Lot has happened for coinbase in the last week (20:43) So maybe at the beginning of the week roughly Mondays when it was first announced that hey, yeah, it’s gonna be an S&P 500 (20:51) It’s gonna be in everyone’s 401 case and it went right up to two (20:54) Well, it was at 200 and then it went all the way up to the 220s to 30s very top being 260s (21:00) I think that was the top this week and then just yesterday the 15th it came out that it was, you know hacked (21:07) So the asset went down a little bit.

It’s now 245 (21:11) Well, it was for a couple of hours (21:14) Throughout the day for the most part and then just today Friday (21:18) Eastern time 1021 a.m. It’s back almost at the all-time high so (21:25) polarizing thoughts almost throughout the week mostly bullish but (21:30) Pretty excited to see this all happening all this coming down (21:35) Yeah, so that’s as far as the stories go (21:37) We do have one last one and it’s when moon pay (21:40) Acquisitioning. Well, I’m sorry. We’re talking about acquisitions, but no moon pay actually partners with MasterCard.

So (21:48) Yeah, so MasterCard teams up with moon pay to launch global stable coin card (21:55) So what this means is anyone who has a debit card or even a credit card could potentially be using, you know (22:01) Stable coins. So (22:03) The the crypto industry is just adopting stable coins across the board (22:08) We’ve been talking about it for weeks now about stable coins just because there seems to be something new coming out (22:13) So stable coins again are here to stay a lot of people in Canada are also talking about it (22:18) There’s like got so many like events where everyone is just talking about stable coins (22:23) Yield farming with stable coins, you know regulatory finance with stable coins the the genius act at the u.s (22:30) you name it, so (22:32) Stable coins is here to stay. Yeah, the stable coin thing that (22:37) It kind of confuses me like why it’s so important (22:40) I don’t I haven’t really wrapped my head around it 100% (22:44) but also the other part to it is I feel like the government should issue these stable coins like (22:50) They should be the ones doing it like the United States government should have a stable coin, you know, like yeah the (22:56) like the Canadian (22:59) Banks should have it like the Canadian government should just issue a stable point like every country should just have a stable point (23:05) Because that would be the way to take you know, you know, they talk about everybody having (23:13) Everything’s tracked in money, you know with online banking and everything this would this would be a (23:18) You know a privacy nightmare.

I’m sure for some folks, but also it would stop a bunch of fraud (23:25) It would stop a bunch of issues in the world. Like when you think about cash cash is, you know, impossible to track sometimes (23:32) it is yeah, so (23:36) Cash (23:37) Kevin O’Leary made a really good comment yesterday saying boy. I think it was him or no.

It was no it was not Kevin (23:44) It was the guy who is the chair (23:48) advisor of digital coins of digital assets for the u.s (23:53) I’ll get his name here in a moment Robert (23:57) No, it’s someone else he’s the (24:03) Robert Hines. Yeah, Robert Hines. Yeah, so so it was Robert Hines who made a comment saying that hey (24:09) You know, everyone says that everyone is using Bitcoin or any crypto to do crime (24:13) you know, they’re gonna be surprised when I tell them what they’re doing with cash and (24:17) A lot of people a lot of normies seem to think that you can do almost anything with crypto (24:21) That’s illegal and just because I started like that in 2013 with the Silk Road.

It doesn’t mean that that’s it’s only use case (24:28) So the other day moon pay came out saying hey your crypto wallet will replace your bank account (24:33) So that’s what the tweet or the post here says on X (24:37) And this is just after it was released by moon pay that they have joined forces with MasterCard. So (24:44) You know, this is all pretty exciting (24:46) As far as it replacing your bank account, that’s where you know, it’s I respect the shooting over the moon for (24:54) For ambition, but sometimes I wonder how far you’ll get you’ll go high (24:58) You know if you go as far as you can up. Yeah, I could see it becoming a (25:03) Just like a bank account, you know, like I like I said what at some point (25:08) Bank of America is gonna go.

Hey, we we you can have your your money in stable points (25:14) Like at some point, I’m just gonna do it like, you know (25:18) It’s not gonna stop moon pay. It’s not gonna stop all these other ones (25:21) It’s just gonna be kind of like a new class of bank. Just like neo banks are really big (25:27) It’s it’s gonna be like, oh, hey, there’s my crypto bank and they’re gonna become just like that at some point (25:34) Coinbase is gonna do the same moon pays gonna they’re all gonna move towards (25:37) Hey, you’re gonna want to spend your crypto because the more that people are spending and using it in everyday life (25:42) It’s gonna be good for crypto in the end.

Yeah (25:46) Listen, I’m not in crypto. Well, I got in crypto back in 2018 very lightly and then in 2020 (25:52) I just deep dived into it to what it is now (25:56) but I (25:57) think that crypto as a whole (25:59) Like the reason why we should not disregard it (26:03) The reason why we should keep an eye on it and maybe even participate to innovate the space is because it just makes money much (26:09) Better, you know, look at coin basis, you know advertising look at what their messaging is. They’re always talking about (26:15) Hey, let’s improve the financial system.

Let’s make it, you know faster more convenient (26:21) less expensive when moving around between you know (26:25) Any proximity from offshore to within shore you name it? So (26:30) It’s not impossible (26:31) I don’t think there’s I don’t think it’s crazy to say that at one point we’re gonna be using crypto wallets as our bank accounts (26:38) Right now though. It’s gonna be hard to get to that point unless we get any any regulatory framework (26:43) So until that happens, it is very likely that we’re gonna start to see proxy (26:49) almost like (26:51) integrations where you can get your your (26:55) What is it called like your your direct income your deposit from your 401 job your w-2 jobs your payroll. Thank you (27:02) Your payroll is gonna be be converted into crypto (27:05) There’s already some companies especially here in consensus where they’re talking about, you know (27:10) Converting your payroll from US dollars to stable coins or a number of people have done it (27:15) Yeah football player.

I forget his name. I think he’s on the Miami Dolphins (27:19) He took he took it (27:21) There was a basketball player that did it, you know (27:23) The mayor of Miami did it more and more people are doing it and a lot of people look at them crazy (27:28) But then also when you know, you’re taking your payroll in there and you’ve kept you know (27:32) Bitcoin and all of a sudden that 104 K. It’s like (27:37) Maybe maybe you’re not the dumb one (27:39) Yeah, I agree. I mean at the end of the day Bitcoin and crypto have come a long way (27:45) you know, I still remember the days where Bitcoin was I (27:50) Was first introduced to Bitcoin back in 2014 with one of my high school friends.

He would he had like a couple (27:55) I don’t know that guy’s probably rich right now. I haven’t talked to him in a while (27:58) But you know, he had some Bitcoin and (28:01) It was worth like dollars. I remember or a couple couple hundred dollars at 2013 (28:08) well, then well anyways, so so (28:10) Now it’s like over a hundred thousand.

So it’s got like nobody thought it could be done. Yeah, and maybe that’s well, I mean (28:18) Even before it came it became to a hundred thousand (28:21) I think it was in 2021 where people were suddenly transitioning there was this mass influx with crypto adoption (28:27) So at the end of the day, we wouldn’t be here if people just didn’t care (28:31) but this is just like any any trend you have evangelists almost niche crowds accepting a (28:37) technology accepting (28:39) You know and you change and then over time you’re gonna see an influx of everyone and then in the end (28:45) We’re gonna see normies or maybe older generations starting to get into it because it’s the new norm. It’s the new convenience (28:53) this usually takes like decades even so (28:56) All this to say, you know, it would not be other it wouldn’t be insane to see crypto wallets becoming our new bank accounts (29:04) maybe in the near distant future, but not (29:07) Not right away (29:11) so I (29:12) Think that’s about it.

Do you have any other thoughts Leon as far as today’s episode? No, no, we’re we’re at consensus (29:18) We’re having fun and I think we’re gonna do some content down in consensus today. So yeah, I’ll look out for it (29:23) Yeah more to come follow our socials subscribe to the channel if you want to stay up to date like this video share it around (29:29) And I think that’s it for now. So thanks everyone for watching.

Have a good one