It turns out having had my helpful
community guide me in the right direction this certain man is a
convicted murderer who lives in Vienna in Austria he conve murdered someone
when he was 19 years old they found member correctly and he was running big
connect 2.0 and that is the kind of person that you are up against in
cryptic oh he’s not a nice man he sends me well he wrote for around three or
four weeks every single day I would get a death threat the via email from bit
connect dot IO dear Crips of community and blockchain
buddies across the globe welcome back to kryptonite season to the no BS
blockchain channel built with the committee and for the community and
speaking of BS tonight we have a really special guest who will not be afraid to
tell the brutal truth limitations about cryptocurrency and Bitcoin but also the
good side no one else then one of the biggest crooks are youtubers Jordan aka
that martini guy a pleasure to have you my friend pleasure to be yes so Jordan
you’ve been through some crazy stuff in your life and you you took a lot of risk
can you tell us a little bit about yourself yes yes
so I basically the way I got into Bitcoin initially I’ll start from the
start 2013 bought Bitcoin never made any money on it somehow by selling it in
2015 for almost the same price as I bought it because you know I was
inexperienced at that time and I’m not that old so I was again quite amateur at
that time however I rolled basically everything that I had into a theory I’m
in 2016 and that kind of got me really like fired up about cryptocurrency as it
would do I mean everyone know what happens to aetherium before I can’t even
sell it at $1500 that would’ve been nice when it so there basically that was kind
of what fired me up I and then I can be came into the space more I noticed if
during that period of time is there is an awful lot of people raising money
don’t particularly deserve it we could say so then I started doing YouTube
about people that didn’t deserve to be raising money people that were raising
money and basically the influencer side of it so there is many many influences
people don’t know the influence and model for making money and you’d be
surprised to hear how much some of these people make especially during the borer
when people these these dodgy I see us as we all know the crop top they were
offering 30 40 50 K a video but for some of these people now these people are no
longer in the space so this is something that interesting no one no one really
knows there is a number of people in the space that will take in and I know that
these deals are existing because I’ve been offered them myself and got a
better mind at that time I only had 17,000 subscribers
so think about that to the January 2007 January 2018 December 2017 and I’ve only
got that amount of subscribers you can imagine what someone with their 200,000
is getting offered or 150,000 specifically these there is a lot of
money flowing around the space and when we if someone gives you a lot of money
you’ve never had it before who suddenly love come to millionaires and
inexperienced people don’t know how to spend money hence why here in the
current situation with the market whereby all coins from a look at them
how many have been successful in maintaining a steady token model at the
same time as maintaining a good business a lot of them have developed fantastic
projects a lot of them have developed nothing and and you can tell where money
has been spent so if people have been the burn rate of some of these projects
is crazy so you’ll get a senior that pays himself maybe 200 that 200 is wrong
number actually maybe four to five million a year and he’ll pay himself
this ridiculous amount of money and then not really do anything and then the
company goes bust in four years fantastic way of exits coming because
you can say well I don’t I don’t know what went on there and you see it all
the time and it still goes on and these people still manage to raise money so
it’s important for me to point out where where is what is a legitimate project
look like what what does a legitimate project do how does a legitimate project
operate you you work with Swiss bog Swiss pork is a legitimate project is
there as a good thing it’s developed an application the application works it’s
kind of essentially when you’re developing something or if you’re gonna
sit out and sell something to someone a lot of the ICS during 2017 were sold as
a way for people to make money and not as a way for people to like invest in
something that they were sold as basically securities that’s what I’m
trying to explain here they were sold as waste people to make money rather than
invest in something that if the project goes well and the talk and appreciates
in value because it’s got good talk and utility again talking utility I can go
on about four hours about how tokens are misused and one of the most important
things in a token economy is that a token is correctly that the the way a
token has to be you in a way that is not going to impact the
tokens price unless the tokens price is gonna stay stable so when you have a
tokenized economy they come everyone is designed one that is utterly terrible
it’s the best way of putting it no one has designed a good token economy
apart from violence but even that model is starting to show
cracks with the iOS not performing as well as they did Pearl in this just
happened the reason that that didn’t pump again nobody will know they sin I
think it’s important to point it out but pearline had been trading OTC for at
least three months people the token holders had it and basically the company
already happened so nobody knew this when it was listening on Finance and
they’d all bought righty or tokens and the reason he didn’t pump is because the
pump had already happened because the i/o news had come out and it pumped on
the OTC markets so it’s and then they everyone just dumped it when he went on
to buy nonce because the liquid is he was their token models a fascinating
beast and I think that everybody has managed to get it wrong so far because
there is no standard the balance has kind of set the standard in terms of
bringing a good talk model to light and when you’ve got a good talker model it’s
cool it’s obvious they’re talking went from seven dollars to forty dollars I
think he’s tapas are around there that is a significant gain for such a large
cryptocurrency like Marquis Kappa having a but again what nobody factors in in
2017 was that if you have a low market cap your entire economy is flawed
most of these tokens need a liquid market cap they’ll as in they need
enough volume they need enough buys and sell orders in order to maintain
liquidity so that every time a large user of said platform uses the token it
doesn’t dump the price off from the price because these are not pump and
dump schemes in theory as much as people would like to counter that thing what
you need to do in that fair in that case would be to raise the market capital
point where it is liquid and then hold it there with a liquidity provider that
would hold the price stable essentially like a stable coin and and so what these
they were all sold as everything is going to appreciate but then nobody did
anything to help your tokens appreciate and most of the projects that are out
there they don’t need a token the token the main use of the token was actually
to raise money for the company yeah and and so how do you raise something
without having to go through all the legal boundaries you have a token
oh isn’t that fantastic we can escape all all legal boundaries by just having
a token um and it works and it works fantastically well I’m sure that someone
will crack down on it sometimes some point in time I think one of the most
interesting cases recently was in America where I forget what it was
called it was something that hadn’t exits count it was actually coined that
I held because I quite liked the project it was about basically renting out
bandwidth didn’t need a token and they basically went to the sec and said look
we didn’t need a token and the sec I think find them the equivalent of what
they’ve raised and bits of the token doesn’t exist anymore but they did
stopped and going to prison because they admitted look we are security and that
happened so I yeah yes that’s fascinating I mean they’re something
that I love about you Jordan is that you are the Sherlock Holmes of sniffing the
BS oh yeah you’re so good at tracking you know who the scammers are and why
but obviously we don’t want any of our viewers to get scammed eventually so if
you don’t mind sharing like have you seen any symptoms of the typical ICO
scam or what are some hints that make you think these guys are trying to scam
the world approached by them all the time yeah they’ve got a daily basis I
will have scams approached me and asked me if I can promote that project for
example because I am an influencer I also have run a consultancy company on
the side helping projects go the right way about things rather than going the
wrong way about things and a lot of these projects approached me just
because they knew who I am and most of them are kind of Eastern based because
they’re still finding very easy there to raise money these not people think is
very difficult to raise money in a market like we have now know if you have
idiots then you have money there is there is a lot of uneducated investors
they fooled very easily by promises of easy gains and they do not realize the
world that they are entering into especially because most of the
first-time cryptocurrency holders the best scam or rather than the most
famous scam this year I think has been big Kinect 2.0 yeah so when it came to
big Kinect 2.0 it’s a fascinating story it’s a Ponzi smart contract it’s big
coin to a pic-a-nic 2.0 so be Kinect we all know what happened with that that
the project exit scam dr. Texas launched their whatever it was against them and
they all went to nothing and everyone lost all the money wasn’t that fantastic
experience for everyone well it was because that was an alerting experience
for everyone so regardless of how much anyone any money that anyone lost in
that the reason that anyone lost it was because of greed greed in in they will
learn now not to do that in future and so unfortunately some people have got to
learn it the hard way obviously if someone is offering you 1% and the hairy
turns on you money dad I don’t know where you’re coming up with this magical
1% of their figure but it is impossible I assure you as much as I would love to
get one percent of their returns account is that the number one BS like hints
that you get we offer you one person lending platforms are still massive in
Indonesia China South Korea and India India all those three countries massive
learning schemes but one just recently came down where they had above a billion
dollars worth of liquid Bitcoin that they have raised and then because the
people who were in charge of it I believe they got arrested or impeached
or I don’t know in peace that’s what you do to a president but they got in
trouble basically with the law and the law had authority of that I believe it’s
being auctioned off now I don’t think he’s been marking so that would be very
bad for the market but he might explain the recent dip and so but coming back to
big connect they connect 2.0 launched this year and a man whose name I cannot
mention because my video has been taken down for privacy reasons launched big
Kinect 2.0 and I tracked it from start to finish this guide of the it is a
masterpiece if you want to see it there is a link to the spider’s web on one of
the videos it’s pinned at the front of my youtube channel I will surely if you
google that martini guy I will be the first result and hopefully I’ll exalt
link my channel in the description yeah definitely that was genius that video
actually it’s a good video but the second video that I pulled that in that
video it comes to a conclusion whereby I couldn’t find the missing piece
I went through all of these old forums made this spider’s web but I was missing
that one photo with a name attached to it it turns out having had my helpful
community guide me in the right direction at this certain man is a
convicted murderer who lives in Vienna in Austria he conve murdered someone
when he was 19 years old they found member correctly and that is the kind of
person that you are up against in cryptic oh he’s not a nice man he sends
me well if for around three or four weeks every single day I would get a
death threat the via email from that bit connect dial can’t give the name out for
obvious reasons but this is the kind of person that Europe against these people
are not nice people they’re here purely for money and I’m someone that kind of I
feel it’s important to to if you I’m not old
so it’s important for me to get a good reputation and maintain a good
reputation and you can either do that by being honest about what you what you’re
invested in and I am a very honest about I did a video the other day explaining
what old coins I’m invested in just honesty is very importantly something
that cryptocurrency has been very much lacking and I’ve met the scammers they
are they smile to your face and then they quite happy to plunge your dagger
in your back and because is that is that why I like your doing this is because
you feel like you want to be honest with the community by exposing a lot of
people are scared they’re like I don’t want to get I don’t want to dig too deep
because it might you know be a box of worms kind of worms I think at this
point the my motive has changed so initially it was to be honest about what
was going to encrypted currency because there was a lot of things going on and
most of them were bad and there is a lot of bad people in the space which I’ve
kind of focused my efforts on exposing and that kind of helped me grow an
audience in the cryptocurrency space because I used to be a car YouTube
before this believe it or not no but so my motive now is kind of to increase
I’ve exposed the scams already that’s been done but there is more scams all
like if this point you have not learned then I do I’m very much concerned I’ll
probably switch content back to talking about scams again come the next ballroom
because there will be many more of them about but I think of this point
it’s more important folks on what he’s good there is a lot of good projects in
the space Bitcoin for one Bitcoin is another thing that I’ve kind of focused
my attention on recently I think that the Lightning Network and I’m sure that
you had a lot of people on here that have talked about oh how fantastic is it
I’m gonna tell you right now in my opinion it’s flawed can y’all grandma
used the Lightning Network no she cannot therefore it is flawed if we’re talking
about adoption here can these camera crew these nice men behind us do they
know how to run a lightning node probably not not even I know how to run
a lightening node if it’s not a castle node there is an element of brains that
goes with it that most people have never learned most
people didn’t was good and my dad’s a puller my mom works for the council do
they know how to run lightning Network nods no they don’t so they thought it’s
not adoption it’s it’s a nice use case so therefore you need a layer two
solution that actually works and there is so many good offerings out there the
the one of them will work I think that human readable addresses these one
unstopable domains I really like what they’re doing I’m not paid to show them
at all but I really like what they’re doing they’re creating the ability so
whereby I can send a theorem Bitcoin any kind of cryptocurrency from a treasure
wallet now into a unstoppable domains account so you type in that martini guy
at that martini Guide özil you’d I mean that and you can send off a treasure
wallet Bitcoin aetherium anything you want to this thing that solves an
element of adoption that is a very good step but what bitcoin suffers from is
why would anybody use Bitcoin it is a pain in the ass everything that I have
is in crypto currency and there is a reason for that
because he’s very difficult to get it out now you can say look sell it on coin
bits I don’t want to sell it on Columbus I ultimately believe in the future of
Bitcoin I’m just very conflicted and I’m sure those it this will suddenly acquire
a bunch of dislikes as it always does as soon as you mentioned anything about
Bitcoin Bitcoin is the best thing in the world it’s not it’s utter crap it’s
flawed is ten-year-old technology having three transactions clearing per second
is pathetic the visa does what 1523 thousand a second if you had everybody
in the world spending Bitcoin that wouldn’t work
can you imagine the backlog of transactions and how high transaction
fees would be it will be ridiculous if when Craig Wright spam the network
during the last border and took fees up like sixty seventy dollars or whatever
it was that was it a real thing unfortunately for Bitcoin that was a
real application the big gray grout was Lord testing it essentially and saying
look this does not work it he’s completely right doesn’t work nor am ia
fan of Bitcoin cash because that doesn’t work because Bitcoin cash is ultimately
flawed because all they did is make the block size bigger and well what did that
shape it just delayed the problem for a few years when Bitcoin starts getting
adopted he doesn’t solve anything you’ve not solved the scaling issue
you’ve delayed it what does like coin do same thing doesn’t solve it having said
that during the bore and I used like pointed process pretty much all of my
transactions again if there iam unscalable
so all these solutions that people are coming up with the best things in the
world they’re ultimately flawed without layer two solution and unless bitcoins
core community can agree on some kind of less to solution that actually works and
the agree to cross-promote it together rather than shilling lining network that
I believe is ultimately doomed and you all these people I went to a Bitcoin
conference at the start of this year all these people they love lining network
you say anything bad about it I’m pretty sure they’d behead you um they just they
not they don’t take criticism and I think it’s important to point out can
you grab my use it no she can’t can your parents use it can my brother use it who
is a couple of years older than me no we can nor does he care he’s not better
than what he’s got cash she’s currently the king can she’s cash is king that’s
why they say into cash she’s the best thing that we have not maybe for
transferring overseas for example maybe I would use Bitcoin in that use case I
have used it in this huge case you convert cash into Bitcoin and then send
Bitcoin in which were they were trying to cash in their country it’s far easier
way of sending cash than it is through Western Union who ticket cook but that
is only one small use case if people are talking about Bitcoin as a peer-to-peer
currency then he doesn’t work it does that’s my opinion it doesn’t work
without a layer two solution in that case so what is the so you believe layer
two solutions you were talking about bmbl
in talking about how that they have a really good token economy real utility
to it do you believe second layer solutions
are also an asset class that we should follow and something that’s interesting
for you or I don’t believe take the second less solution should be tokenized
I believe that most things in the space shouldn’t be tokenized I think the only
reason people use them I understand it is a token model but what you should do
at that point if you are successful you should offer a token buyback in order to
get rid of the problem that you have for most projects the problem is the token
and they have these fantastic things that they’ve built but nobody will ever
use it with the token so just get rid of it this is this and you’ve got tokens
that we’re raising like projects that were raising maybe 3040 million dollars
just buy it back but then again most of these people they held everything open
till the bottom of which some people I’d know for a farm sold they sold the
Bitcoin because it is going to zero and no that is when you buy the Bitcoin when
everybody’s selling the Bitcoin that is how you would achieve the greater fool
theory that is how it works currently bitcoins whole price model is based
around speculation and the greater for theory there is no real application for
Bitcoin other than overseas payments and easy payments not fast payment it’s not
instantaneous payments to can’t pay in a shop with it Orbitz my local shop I
accept Bitcoin it does yeah but it takes about unless you’re using the same
wallet is then we’ve got a good period of time to confirm unless you want to
pay a very high transaction fee and I’m not anti Bitcoin I want to stress this
point everything that I have is in Bitcoin or all coins I mean I’m probably
about 85% of it is in Bitcoin that’s a substantial amount of money that’s how
much faith I have this problem will ultimately be solved but I don’t think
it’ll be solved anytime soon because I think that it needs to fail before it’s
solved I think the Bitcoin it’s something needs to happen whereby they
just kick everybody out of the core community and get one in you know you
know what if this is what they say when they hire new people for companies they
won’t fresh me they want fresh blood with new ideas
the Bitcoin core doesn’t have that you’ve got yeah you’ve got new devs
coming on Bob but being brainwashed from being
young to think like the old deaths and they want to please them they wanted
they want to make them happy so they’re doing exactly like robots what what they
want them to do that is not healthy I just think something needs to change and
yes Bitcoin in his current form isn’t scalable no it’ll never be scaled by I
fully understand that but I think that’ll air to solution will come along
eventually that will present a better alternative to then this is this is
comes to the other point is Bitcoin star of value or is it appear to be
currency bitcoin is not star value as we kind of witnessed last night last night
the price of Bitcoin for those of you watching this in the future it dropped
20% there’s a star of value dropped 20% in the night not unless it’s a bad store
of value and then when it comes to and then you conical people that yeah bitch
do it bitcoin is worth one Bitcoin still yeah of course it is but what you want
bit quite equivalent to because currently the only thing is useful is
paying things in cash those in bitcoins main use cases dollar transactions not
Bitcoin transactions Bitcoin is pegged disgrace we’ve got a dollar pegs
therefore you see everything not I’m not Pegasus of it is in it everyone sees it
in dollars I can’t remember what that word is called us I didn’t go to
university also Bitcoin doesn’t make a very good peer-to-peer currency because
it’s slow and kind of useless but it’s very good for peer-to-peer transactions
overseas as something is fantastic for they’ll do a lot of business with China
do a lot of business with Lithuania all these area of the world now it’s very
scared of these area of the world when it comes to deal with them they’re
dealing with them in traditional senses they go all the dodgy or you can’t do
that with these people but I think it’s important to understand that these just
people like us just because you speak a different language does not make them
speak a different language maybe with a funny accent that doesn’t make them
worse people it doesn’t make them scammers it makes them there everyone is
the same as long as you get to know the person so the there’s a lot of
misconceptions that just being from that area of the world makes its account
I do find it interesting the the kind of tax kind of ethics in cryptocurrency
whereby I understand that he goes along with the space but it might hinder its
development everyone is based in the care
the sessions for the most the reason people do this is capital gains taxes in
corporations tax it all these liabilities that you open yourself up to
means that you shouldn’t base yourself in the country of which you’re operating
out of I wanted your percent agree with you on that like you know a lot of
people go to zhuge and they just register their company all they have is
a mailbox and they say we’re a Swiss company so you know it like you said I
believe if you put yourself in one company you need to hire the local
people you need to support the local economy and build yourself as a company
with true principles and values I 100% agree with that yeah yeah as much as
I’ve tried I can’t do it in the Caymans I’ve got to do it he’s important like
for me I live now in London I used to live in Manchester I’ve been in the UK
my entire life apart from for holidays and trips abroad and stuff like that
I am a UK citizen therefore I should pay tax in the UK no matter how kissing
annoying it is it’s it’s not the best thing so say you and I think most
cryptocurrencies kind of based around capital gains tax however the government
values it as a commodity meaning that you open yourself up to a lot more
liabilities and the regulatory kind of not it’s not clear so unclear mic my
girlfriend is a lawyer she is learning about these things at the moment she’s
got one year – she’s a fully qualified lawyer and she was speaking with one of
the lawyers there today basically asking how is cryptocurrency classified in
terms of legal stance it’s now we have to kind of go by hope for the best is
the reason why people based themselves in the Caymans because there is no
regulation and none effort will be so therefore in order to not get in trouble
with any potential laws that you might come into contact with in the future
you just base yourself there and get rid of the headache it makes sense now for
me the urns pretty much everything that I have in cryptocurrency it creates a
nightmare the accountancy costs for this a ridiculous it is almost it’s very own
economical to do it here but it is technically kind of the right thing to
do if you want to talk about doing the right thing now you can have tax
avoidance I’m all on board with that I think that if there is a loophole there
then he should be exploited they leave loopholes there for
people to use otherwise they would close the loopholes absolutely yeah but I have
a follow-up question so going so first of all I love the fact that you’re so
passionate about this and I think that’s why that marchini got such a strong
following is that you’re so harsh and critical because deep inside you
actually love it and you want it to succeed so I think a lot of people they
need to understand that you’re not criticizing because of hate but it’s
because you want this to and you have a lot of skin in the game right in a sense
when people talk about oh I have thirty thousand dollars in it oh I have fifty
thousand dollars in it they you don’t have skin in the game compared to if you
can afford to pull that in and still work a job still an income you don’t
have skin in the game my job is cryptocurrency everything I
earn is encrypted currency and I never cash out this is my life I’m critical
because I care that love-hate relationship is really cool just going a
little bit back there because you are like we’re saying earlier the Sherlock
Holmes of sniffing the BS and you talked about earlier if a project is
guaranteeing you any interest rate that is one red flag you’re like okay you
guys are proper scammers how could I make one percent a day what are some of
the things that you look at when you trace you know you try to find like
proof that this is a scam because I think the lessons that you’ve learned
and that Sherlock Holmes approach is something that everyone could use and do
their own due diligence so they don’t get scammed on anyone that advertises it
as an investment it’s a scam on anyone that advertises it is a return the good
way of making a return on your money is a scammer anyone that proposes that this
is going to be the next biggest thing in a kind of an overly pushy where I would
probably call a scammer now this is all just surface things of course we can dig
deeper LinkedIn profiles that have them linked on the websites if they don’t
then he’s probably a scam if they do one of my favorite exists comes every Scott
Manero gold because a lot of people were involved in it and he cost them a lot of
money so it’s kind of a sadistic thing there but I find it because I the reason
these my favorites cuz I almost fell for it they had the LinkedIn profiles linked
on there and the the pro that token I can’t remember if it was a pre mine but
he was a privacy coin and there was actually some tech behind
it and they what happened with them is they were listening on crypto piya as
most projects back in the day were the exits can we all we all dearly miss
crypto piya for those lovely lovely exits gems they made for they made for
great content what can I say so get they were they were this dumb
crypto piya and it basically they disappeared like everyone else does but
what they did was they opened a loophole within their smart contract that allowed
them to print unlimited tokens so they didn’t have to steal tokens for anyone
it they didn’t have to know all they had to do is mint new tokens so what they
did is they they basically hyped up the project so much which is how I heard
about it the price is going up and up it like 5000 percent in a few days from
what I remember and maybe exaggerating it a little bit in my mind but then we
printed all the tokens then they sold all the tokens on them through the
market just basically to zero and then put a massive sell order on it and the
project was gone there is an important distinguish to make between scammy
and scam scammy is are these people doing it for the right reasons and are
their intentions pure and easy real but they’re not going to disappear and take
your money guys what a scam does booty talkin a
fantastic scam again I want to explain about bunny token is that the erotic
it’s okay it is the erotic token it’s a it was advertised all over YouTube last
year YouTube quite happily took multiple I would imagine millions of dollars
because it was on every single advert that like four months I think don’t
think it raised that much in the end I think it raised about 3 million which is
actually clen T of money most projects most startups in the UK probably
struggled to raise 50 100k he really struggled to raise money but crypto at
that time nobody struggled now bunny token they have a is just hilarious what
happened then then market coverage currently seven thousand nine hundred
dollars and perspective with I think it’s only got sell orders I think I
think that’s that’s where this power lies but they did launch which is
interesting and they are still available to see on chroma key cap so if you did
want to see it then you can you’re more than welcome to look it up on chroma key
it’s a really interesting read the website as Gainey still alive and you
can understand why it fails now there everything I would say kind of erotic
associated in cryptocurrency he’s probably gonna wags its camp and I think
pretty much every single project I’ve seen has not had any kind of real
advisors project management no one is real no LinkedIn profiles are linked
bony talking dead link LinkedIn profiles they did everything they would make them
look legitimate which is why they were able to raise funds and now currently
the model that people are raising from a series of costly the infamous ieo model
that is kind of failing a little bit now but the Bonito back on the money talkin
it’s a little vast gap it’s just a great scam because there is only a certain
kind of person that would invest in this is why I like you because these people
they kind of play the greater fool theory to the extreme the point of you
just an idiot for believing that it was true and a lot of these scams originated
in southern China where their ethics code is live from from our ethics code
in the West they believe that if you can exploit someone you can take money from
someone then more fool them because that’s just different cultures so a lot
of these I think only talking is actually Russian they hired a lot of
Russian and xxx stars to do their adverts on YouTube which is how they
grab three people’s attention I just the way this comes up I find it fascinating
they said I can lesson in human psychology
yeah it really seems like it’s going that deep and I have a question so over
that first of all the scam versus kami is a great definition because I’ve seen
both and now I think I understand that the difference between the two I have to
ask you like some people say that because you know all this are most of
the these projects are open-source they’re on github easy to fork in terms
of companies that just take all the code and copy and paste that to pretend that
they’re a new protocol or pretend that they have something of value would that
be considered a scam for you I say it depends on how the marketing so if you
are to take something that is someone else’s and not declare that is someone
else’s then that is plagiarism and you will be prosecuted for plagiarism
eventually because plagiarism is caught he’s
stealing like anything else you can be sued for it but it really just depends
because I believe that this is a cone leaf whether this whole thing is gonna
succeed is by sharing sharing is caring yes so it’s important to remember that
there this whole space was built on people sharing information and the only
way that you can defeat the ultimate bigger power which is the centralized or
authorities that run the world I’m very much against them i feel like they abuse
their power this is one of the main reasons i’m a big in kind of bitcoin is
because it takes power away from the states although it is ultimately far it
does take power away from this day and i am in favor of decentralization that’s
something that is very much important to me i think sharing code is fine as long
as it’s clear that you’re sharing code i have seen projects copy and paste the
entire projects just like i’ve seen projects copy and paste entire websites
it’s very common i find it fascinating actually for the
most of 2017 SI cos and some of 2018 everyone had the same website even the
same graphics yeah yeah that that little block that was yes and who is paying for
this because he’s not very good it’s like it’s just who designed this the is
yeah i’m just not fun why is everyone for the same look no idea of this space
if you’re at least you gonna try and scam some money as in people is to make
something a little bit different something decent these this whole kind
of space in 2017 was built around being scammy not not scamming but being
scamming a lot of projects were scamming there’s a lot of tactics of projects
used to inflate the price of the coins of which i am in favor of and i want to
make an important distinguishing here market making and pumping the price
although they are two different things i’m in favor of them if you are talking
is not a security which for the most part most of them aren’t then you are in
control of your entire economy and if you neglect your economy then you
neglect your token and the token price will go down looking after the token is
integral to the success of all of these companies and so therefore market making
is very important I woke you up luckily on a serious note
market-making is very very important having a high market cap high liquidity
very important because businesses will fail everything in this space is doomed
to fail that’s dust I’d say the best way of kind of describing this space at the
moment I love that way because a lot of people automatically think that market
making is a negative thing but like you said it brings liquidity it helps people
to trade more so there are many there this is not just the negative dark side
there positive things about market making as well
definitely but the whole point of market making is to make you better for the
people that hold the token he’s a very kind of selfless act the problem comes
with market making when the team decides oh I hold four million dollars worth of
tokens no Lamborghini looks rather nice I think I might have one of those and
although those tokens are yours to sell you’re not thinking in the best interest
of the project at that time and by this is what happens with pump dump because a
lot of projects install his strategy and then the team gets gradient and then he
goes in the opposite direction which is how what happens with with pom pom
cycles and in most cases the team has made the money and then done a lot of
the projects they just done they meant a lot of money in 2007 a lot of people at
the top made a lot of money and that is one of the reasons again Y 2017 was
flawed it didn’t decentralized anything is centralized more money than ever
before though there was more millionaires created that year and gets
more millionaires destroyed as well it doesn’t 18 I know I was I was actually a
good point to make here I didn’t actually mean I think I made about being
completely honest about $10,000 during the entire board room completely okay
with sharing that most people go how the hell did you do that don’t ask no idea I
I think I never advertised the project throughout the entire bull market again
I did not trust anyone that year I thought that what was going on it was
more important just to focus on making the space a better place because it was
obvious what was happening that the bitcoins price was becoming way way WAY
overinflated yeah now that’s really interesting so there’s there’s another
thing I know so first of all I love how you detect scams and you’re you’re
looking for you know laws in the system to help us you know
have a real honest debate to the community one thing that you also are
good at detecting and we talked about it briefly a few hours ago as you know
there was a report showing that between 70 and 75 percent of all volume on a
cerium and litecoin and we’re talking about the top currencies is fake yeah
how do you respond to that how did how does that make you think everything that
you see in the market is entirely fabricated especially from the projects
at the top do you really think throwing people that are willing to buy and sell
these things all the time the only thing asset that people are interested in
buying and selling is Bitcoin maybe aetherium a ripple it was actually
quite a popular one and but ripple has a market maker and the market maker is
very very reputable I’m gonna name names again because I don’t want to get in
trouble but ripples market maker is very very reputable well the ripple team do
however is they sell into the market every day because dye is what we will do
everyone knows it’s no great secret ripple selling to the market meaning
that the price goes down unless there is more public interest ripples volume is
provided by their market maker again fantastic market maker but with all of
these things there are people market making on exchanges coin been horrific
exchange quite happy to tell you they stole 18.2 million UT tokens along with
100 million dollars worth of all the tokens from people on the website they
were hacked or it was an inside job don’t know but I do know that it’s been
a right hustle trying to sort it all out and they won’t admit that they’re hot
because everything is under maintenance and it has been on demand so very long
time now in fact I think I’m almost yeah I’m going on for a year now there’s a
long time to be in maintenance anyway and these domains and then your other
exchanges I ducks fantastic example they recently Ayad a coin called blubber
blubber is a social network type thing absolutely screwed them they filled up
the entire allocation for ie your tokens with BOTS I think around thirty thousand
was real and I don’t know what the tall figure raised was but most of it was
fake they filled up an allocation for an i/o
with false just to make it look like you sold out quickly it’s crazy I mean I saw
a report from crypto compare the other day and literally they dive deep into
their due diligence did research they’re there they have data server so they
really understand data and they were saying that in the top ten crypto
exchanges for for volume only one was privileged legitimate and that was
financed and all the nine others were completely fake I would be inclined to
agree with these people however I do want to point out that not all balances
volume is really there now there is a difference between a lot of these
exchanges and binomes how if violence doesn’t make their own market exactly
yeah but people do other people debate all the people mock you may combine ants
so if you want to call that real volume call it real volume it’s technically not
real valium but having a market maker is important and a lot of people don’t
realize that these watch training is literally just to make things look
healthy without wash training if you took out all the watch trading from the
market pretty sure everyone would probably leave this space because it is
not good you know it’s funny because you know some exchanges when you go on them
like literally on the the sell and the buy orders you see clones so it’s
exactly 150 you know blah blah blah and then 150 bla bla bla 30 bla bla bla 30
bla bla so it’s literally it’s like a ping-pong that there’s a fantastic
example of this would be L Bank exchange if anyone wants to watch half an hour of
a crypto wash Trading Shore check out L behan cuz everything on there is watched
traded look for the highest volume things what they do is they don’t even
try it on the book this is how bad it’s getting they trade off the book so they
have an odd book on the exchange when no orders are being executed only hidden
orders we engage the hidden orders as well if you want to talk about that
hidden art is it different from old as you can see so they washed her and
hidden order so there’s a line that’s nonstop coming down at the side with all
these orders that happening nothing is happening on the order book
there is no volume on the audiobook but no one is using exchange but somehow
these money still fabric here 500 million dollars worth of orders per dead
dunno I’m just done why they even bother so actually you just mentioned hidden
orders that’s something that I came across just a few months ago you might
telling us a little bit more about what what is this hidden Hoarders right so on
every exchange there is a hidden order book and there is not a book hidden our
books are there to kind of regulate prices sometimes they’re installed by
exchanges sometimes they’re installed by a very good customers to exchanges they
want to offload large amounts of tokens but don’t want to scare away the
customers so what you would do is you would think of the you have a hidden
order book and basically that that is the people that I’ve dealt with them
used not as many it’s used for kind of offloading tokens you know you know I
don’t know whether it’s ethical or unethical tavares really it’s an
interesting dialer if you can’t see the order does it is it good or bad and I
personally think it’s bad because everything should be out in the open and
and this is the game the problem with centralized exchanges because you can’t
have a hidden order index this is one of the reasons why I love I Dix
idec’s is a fantastic exchange because everything is there is clear is visible
nothing can be hidden on a decentralized exchange because it’s just from wallet –
wallet Martin there’s no middleman in between that can fiddle the books and
fiddling is very popular at the moment yeah how far are we from actually having
atomic swaps being able to have a decentralized exchange or you can have
liquidity and and we can on a peer-to-peer level I can send some
aetherium you can send me some Bitcoin vice-versa
I’m gonna say now that I don’t think it’ll happen for 15 years and you wanna
no reason why please yes because people there’s no money in atomic swaps
why would I develop a decentralized exchange when I can set up a leveraged
trading one why would I want to do when I can set up any other exchange that
will make infinitely more money a project that I like that I think is
Isabel underfunded is called metamorph metamorph is decentralized exchange they
need a fantastic platform they have atomic swaps but it will never be
adopted they don’t have the marketing budget they cannot compete with anything
best decentralized exchange out there at the moment I think he’s just gonna live
is not nosh is a fantastic project they have a security token rather than a
utility Serkan which kind of makes it even more legitimate the security token
was sold to US investors fully regulated more and more legitimate this is
something when I don’t think any all the i’s and t’s have been crossed and
doctored I think that’s how you you say and now
she’s great he’s got a centralized interface with the decentralized
background so I have one last question because since you’re so honest you’re
you’re brutally honest with everybody and you’re not afraid to say bad things
but for the good of it last and this I know this is a really hot topic and
everyone’s talking about it and you might be tired of it but I just want to
get your take on Facebook’s Libre coin as you know France has taking a really
hard stance they took their shot at it Portugal as well and Germany as well
how do you feel about how is this how are you reacting this news is that
positive news for you negative news I think that Libre will never happen I
think it’d be great if he did happen because it’s progression I don’t care
how progression happens as long as it happens and as long as you can buy
Bitcoin with labor I think that’s important you know to keep that kind of
decentralized stance on things Libre is gonna be a crypto currency that means I
can send 21 the world meaning that it is exchangeable for Bitcoin because you can
anyone set up an exchange that can do that
so ultimately I am in favor a big Libre I am of course in favor of a Bitcoin as
well despite what I have already said I am in favor of Bitcoin I’m sure people
will still complain everyone has a different opinion and everyone in this
space always knows what’s the best thing and I’m again one of those people
however I’m very much willing to hear other people’s opinions on it and I
think it’s important to listen to all the people have got to say and taking on
board though you don’t learn by doing that back on the Libre point Libre will
never happen but it’d be great if you did that’s how I did you know I think
that a lot of people say I remember some quotes not exactly but they’re saying
like angry customers are your best source of learning and and in that way
sometimes you know when you get heated and emotional I feel like you know
that’s that’s the way we can learn and and they need to hear this
need to hear about the scams you talked about they need to hear about the fake
volume they need to hear about the wash reading about the ICO issues I mean it’s
it’s reality right I think that angry customers you learn the most from them
are you also just learning from speaking to people like since coming into this
based learning from speaking it’s massive you can learn so much just by
saying listening to someone that’s in a different sector these are very very not
only lucrative to listen to people because you can learn what they do and
kind of take it on bottom then maybe I something yourself you can also use that
person as a contact you can there’s so many different avenues of revenue in
this space there’s so many different ways to progress the space at the same
time as having an income that I think this space is hugely underutilized and
the people are utilizing it utilizing if the wrong reasons because they’re here
for the money and they don’t care about this that Marty guy aka Jordan it was a
pleasure having you my friend and please keep doing your research keep being the
Sherlock Holmes and and questioning all the stuff that we need to look at and
face reality you know I will so long as my YouTube channel is not
bummed because that keeps on almost happening so far I’ve done an amazing
job my friend thank you so much for coming on the show and guys don’t forget
to follow that martini guy for that for those who do not know him he has some
really interesting content helping you with scams helping you see the negative
side as well because this is not just all about flowers unicorns and
princesses but there are some issues to look at don’t forget to like comment if
you have any questions we’ll try to get that martini guy AKA jordan to look at
the comments if possible oh yeah blast that Bell notifications so that you can
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