It's a SCAM

Added: 2026-05-05

[00:00:00]This crypto is falling down 90%. There's another top crypto that's falling down 12% because of a mass attack. And recently I heard someone say that that the stock market is held on this high pedestal but because of what happened with all birds this week. It kind of destroys that whole thought process that the stock market is better than crypto and safer than crypto and makes more sense than crypto. Let's talk about that because uh there's big news with Binance and BigGuet and these multiple cryptos and I think we just have to talk about the riskreward versus uh in crypto versus stocks and of course right now we also have a possible uh reescalation between Iran and the US.

[00:00:46]They were supposed to have talks tomorrow. The stock market was hitting all-time highs this week and now it sounds like that might be gone and there the end of the ceasefire is coming up in a few days and yeah might get volatile uh in the next few days. We might see some drops in the market. Um keep in mind this is after 13 green days for the NASDAQ. Not a record exactly but top five or top six that we've ever seen in terms of green days in a row with it bouncing back 16% in about 2 weeks. So yeah, Bitcoin is bleeding right now.

[00:01:18]Actually, we have Bitcoin bleeding a little bit. Not honestly too bad.

[00:01:21]75,500. I think it's just kind of waiting to see what happens when the market opens. Let's just chat like we're we're having a drink and we're just looking at what's happening in the market. If you don't mind, hit subscribe so you can see future videos just like this. If you want to trade crypto, check out the link underneath the video to BTCC. You can start trading in just a few minutes and there's no KYC. you can get a 10% deposit bonus on your first deposit and up to $10,000 of um extra bonuses. Now, look at what's happening right now. Um I just saw this. I I'm just scrolling after having some family time and a dropped 12% following a $300 million exploit of kelp dowo.

[00:02:04]This person says, "Wish I had better news, but looks like wrapped ETH on a effed. Withdraw if you can, but likely it's too late. After Umbrella settles, normal deposits should be partially withdrawable. A big hit to the DeFi vision. And I also saw this. Binance and Bit announced investigations into Rave today. I've never heard of Rave, but um yeah, it's down 90% in 8 hours. Okay. I mean, this is hard to watch. As someone that's been in crypto for 5 years now, um it's frustrating to see it seems like month after month, massive mass massive hacks, um massive amounts of money lost or stolen. I I just read a story um about someone that signed up for a new Ledger or just like downloaded Ledger from the app store and it was a fake ledger and they got their stack taken away. And it's like if people that have been in crypto all this time and understand what this even is, if they can't if they can't safely keep their money, I don't I don't want to say what's the point, but it's like this industry is not going to continue to grow, right? I mean, if if we have products like IBIT and FBTC, money will flow into Bitcoin because honestly, Black Rockck and Fidelity can custody Bitcoin a lot better than most people and they're not trying to do anything fancy with it. But when you start getting into, you know, DeFi, when you start getting into all these ways to get extra yield on chain, um, or just like, uh, yield farming or just even setting up new wallets if you're someone that's been in here for 5 6 7 8 9 years and you can lose it just not even thinking just downloading a a new Ledger app on your phone. Maybe you get a new phone and you have to redownload the apps, then you're just screwed, right? And of course, there are some things that you can do to protect yourself, right? Like never type in your code into or your um passphrase, your your seed phrase into anything digital.

[00:04:11]So, you shouldn't put it into your phone into like a Ledger app. No, it should only be on the hardware device. And there are various things you can do, but like this is so frustrating. And like I heard someone recently um someone that's been in crypto for longer than I have, Brian Harrington, I really like his stuff. I've been watching every video, but he he had a point that I don't agree with. He he said, and shout out to you, Brian, if you're watching this, um he he said that the news about Allirds this week, I don't know if you saw this, but um the shoe company decided to pivot to AI, right? And they were this dying shoe company. It was worth well, I guess at this time like $20 million. It had been worth eight, it was worth four billion at one point. So, what is that like down 90 something%? Um 95% or maybe 99.5. Uh anyways, yeah, 99.5. They were down significantly and they decide to pivot.

[00:05:06]They're selling off their shoe brand.

[00:05:08]They are um taking a line of credit and they are throwing all into AI, right? Uh and at first, this might not make sense, but you know, they're a dying shoe company, right? That's probably going to go bankrupt. Um and they're turning to something that could be profitable. So, honestly, I I don't know the numbers well enough to tell you whether they'll be able to like actually live past this point and make money, but as a Hail Mary, it makes sense that like if you're in something that's definitely going to go bankrupt and you do something that might bring you out of bankruptcy, it makes sense that it would go up. Um, and on this news, it spiked like 900%. The thing is, it's not just people buying this, it's algorithms, it's traders, it's all kinds of speculators. This had really high short interest, so it ripped higher and kept on ripping. I actually saw it at like $4. It was up 60% in the pre-market and I saw it at $4 and it ripped all the way up to $22 or something. It's still at $10 now. So Brian's point was that like this like the stock market is held on such a high pedestal, but the fact that things like this can happen kind of demoted to the same level as crypto, right? It's speculation at the end of the day, I think, is what he was getting at. that it's not like this beautiful thing that always goes up and always makes sense. I'll push back against this though because um the difference between the stock market and crypto of course there are speculators there, you know, there's shorters out there. The same thing that happens in crypto, you can have um short liquidations and prices of companies can move up and not every company makes sense. But I think there's a difference between individual stock investing and index fund investing which I think is actually a very safe thing to do over time and does make sense. Um, and even individual stocks, right? If you look at the largest cryptos in the world, and this is not me being bearish on crypto, what I'm about to say, but like look at the biggest cryptos in the world, uh, Ethereum back on October 10.

[00:07:13]It went from 430 uh, $4,300 down to $3,400. So, it went down 21% in a day. This is the October 10 crash. You look at something else like uh XRP down 44% in a day.

[00:07:30]The difference is the top cryptos in the world can fall down 50%.

[00:07:36]In the matter a lot of these fell down uh 50% in the matter of minutes like literally 5 to 15 minutes. Um we saw these massive liquidations. That doesn't happen in the stock market. like the biggest cap cryptos. A lot of people think, "Oh, they're just as safe as like the biggest stocks." No, Amazon's not falling down 44% in 15 minutes. Also, yes, they can fall down on um news or like um I think Brian also pointed out that that um there's CEO risk, right, compared to Bitcoin, right? their C their CEO risk at these companies or you know they can oftentimes uh their incentives don't align where you can have a company like Snapchat that has a lot of stockbased compensation and just milks investors dry where they just issue shares and that's also one of the beautiful things about Bitcoin. know exactly you know exactly how much supply there's going to be compared to a company where if it goes up in price very quickly the company can issue shares and basically cash in on the pump and um yeah it can actually hurt shareholders again and that's a bullish thing about Bitcoin but the difference is you can invest in VO or the S&P 500 and that's really um not as much of a concern because you have all the largest companies in the world um and And then also like you can invest in companies that aren't going to go down 45%, they have actual cash flows. And the big thing that I see as a problem with crypto right now, you have to be you have to be pretty techsavvy to even own just Bitcoin on cold storage.

[00:09:11]You have to be fairly techsavvy. Um, and of course you can buy ETFs now, but like this is not a good look. When the largest cryptos continue to get hacked, that's like the number one thing in investing. You do not lose money. So, if you can't use your crypto, which is one of the major use cases of crypto is DeFi. If you can't use it because it might just get stolen from you, something that you don't know. I mean, even computer programmers can't figure out what's going to get hacked [laughter] next. And like there are these massive exploits. There are things that are considered safe like stable coins that just all of a sudden depend and go down to even the largest even the largest stable coins have gone down 10 to 20% with USDC and USDT. Now they rebounded very well and are very successful businesses but then others like US just go down to zero. So if you can have something that's really well thought of that goes down to zero or massive hacks happen and there seems like there's no place safe like Bitcoin's only the only option which is one of the reasons why I'm like 90 I'm probably over 90% Bitcoin now in my crypto portfolio. Then I have some Salana and some Ethereum. Um Ethereum I actually have in a um in fe um which is Fidelity's Ethereum and then I have some Salana. Um but as time goes on I'm I'm focusing much more on putting these funds into ETFs. Like I I've converted a lot of spot crypto to ETFs over the last couple years because I just think it's safer honestly for most people. I think you're much less likely to have it stolen or mess it up or send it to the wrong place or download the wrong wallet or anything like that. And honestly, just the stress of it, like even if you do everything right, the stress is much lower knowing that it's at Black Rockck or Fidelity. It just in my mind, I think they're going to be able to custody it better than me or probably you, which is one of the benefits of having crypto is that you can self-custody. I get that.

[00:11:14]But most people don't invest in Bitcoin anymore for self-custody. They invest in it for the investment returns. So even if you do that, you can always keep part of your stack on hard uh on a hard wallet. But um yeah, I just think it's I think it's much easier. I think it's safer. I think there's going to be better access to get like loans against your crypto, especially in something like IBIT or uh FBTC as time goes on.

[00:11:39]Um, so yeah, I I think obviously part of it too is you don't know whoever you pass it to one day. If you do pass it down to someone, you don't know how they're going to uh handle their wealth either and if they're going to be smart enough to be able to self-custody or just maybe you get hit on the head and you don't remember exactly where you put your hardware wallet. Like does your significant other know where your hardware wallet is? Have they paid attention when you've tried to tell them? Cuz it's pretty boring for most significant others, I think. and telling them how to access it and making sure that you write everything down. Like it I think for a lot of people there's going to be a lot of Bitcoin that's lost which will benefit the people that do actually have Bitcoin that they can access. But yeah, and I'm saying like in the title I think I'm going to say this is a scam. I'm pointing out that some people are getting scammed out of their crypto right now. Some people think that the stock market is a scam. Some people think crypto is a scam. And I think you just have to realize that there's speculation everywhere, but there is much more risk in crypto just because it is a newer asset. I think there's a much higher level of um a much higher level of difficulty in actually safeguarding your crypto and using it well. How many people have lost 20 to 99 or 100% of their stack in a night because they they had a hack or send it to the wrong place or whatever.

[00:13:03]um they fat finger it. So like that just doesn't happen in the stock market. And I think that's why a lot of people are kind of fed up with crypto right now is because there hasn't been a ton of growth and there is a lot of risk over like if you hold crypto for 5 years, you're probably going to lose some. Like most people I'd say lose it somehow, especially if they're actually doing anything in crypto. They hold altcoins.

[00:13:27]They're they're trying to use DeFi.

[00:13:29]They're trying to buy stuff with crypto.

[00:13:31]like a lot of the time there can be scams. Let me know your thoughts on this underneath the video. Um, obviously I I talk about crypto every day. I'm very bullish on Bitcoin specifically and altcoins in general during bull markets.

[00:13:43]I think we'll do well. But yeah, I'm not out here trying to pick the next 100x.

[00:13:48]Trying to do all this stuff, fancy stuff with DeFi. I'm looking at Bitcoin. I'm looking at um Ethereum and XRP and uh Salana and all these top cryptos and I'm always comparing it to the returns and the stress that I have in other assets.

[00:14:05]Right? If I get a 10% return with some altcoin versus a 10% return in V, which is the S&P 500, I'm going with V every single day. Even if it's an 11 or 12% return with an altcoin, like I have to get in and out of that altcoin. I don't want to hold on to altcoins forever because a lot of them just are crappy and they don't really have a use case.

[00:14:28]Um but uh yeah, like you have to get outsized returns because there's so much more risk and much so much more effort um compared to just growing with the entire stock market. Um so yeah, I I'm not bearish on crypto long term, but I think this is frustrating to a lot of people and I just wanted to point it out. Let me know your thoughts on this underneath the video. I do love the stock market. I'm actually going to be talking about that in um at the Bitcoin conference, right? Which is probably going to be an interesting place to talk about it. But one of the questions is what do I think about investing in stocks? I'm speaking on a panel there with um the Altcoin Daily Brothers and Brian Harrington. And uh yeah, one of the questions is what do you think about investing in stocks and what do you think about investing in real estate?

[00:15:12]So, I'm excited to talk about that, some of the pros and cons. Um but I do love investing in stocks. the fact that you can invest in an asset class where unlike crypto where a lot of people are longterm oriented like sure we have bare markets but like a lot of people say that they never want to sell their Bitcoin. The fact is in in uh the stock market a lot of the money is run by hedge fund managers and people that are very concerned about their 1 month, 3 month, 6 month, 12 month um their returns because they're they're worried that their aum will go down and then their fees go down, their income goes down. So they're focused on limiting downside as much as possible. Um not really always maximizing upside. So limiting downside includes selling off stocks that are down already because things could get worse. So oftent times we see draw downs in the stock market.

[00:16:06]They're irrational where stocks fall down significantly. And sure there there are some stocks that just continue to fall day after day like Adobe and this has not been a good time to buy it for like the last four years. Um, but there are stocks that go down like Amazon and like Google and like Meta and they can rebound very quickly because the fact is a lot of it is irrational short-term thinking and it can be really easy to invest in these companies if you have a long-term outlook which I've been able to invest in all three of those over the last uh two months even right around the bottom and I put in a ton of money and yeah the fact is these companies have real cash flows and generally bounce up pretty quickly. we don't have to wait through an entire Bitcoin or crypto bare market because they have great businesses that are still growing, but yeah, they can still sell down 20 to 40%. Um, so yeah, you you have to realize that, but uh yeah, let me know your thoughts on all this underneath the video. I appreciate you all listening to me talk for 17 minutes on this, but uh yeah, let me know your thoughts. Again, if you want to check out BTCC, there's a link underneath and I'll see you in the next one. Bye. Just a reminder, this is not financial advice. This is not legal advice. do your own research. I'm never going to reach out to you either in the comment section or through any other means to try to get you to invest in something that I'm investing in or to send me crypto. Some links underneath the video are affiliate links. I may earn a commission, but this is at no extra cost to you. Of course, do your own due diligence.