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Show Notes
Betting
– Big betters work hard to conceal how and where they are betting
– You don’t just roll up to MGM and place huge bets usually
– You do it through a bot that places bets on different websites instead
– Then hope they pay out lol
– Got rugged heavy in 2009 for like 7 figures then the guy made off to Panama or wherever
– Books will refuse really good gamblers, but will accept “fish” as long as they sign that they aren’t addicted lol
Crypto
– First saw it on Wired magazine when Bitcoin was around $1
– Didn’t jump in at first
– Started using Bitcoin in 2012 to get paid
– Ledger: “Did the process in how you thought about gambling transfer over to crypto?”
– Hara: “Yes I think the fact it was governed by math”
– Could insulate yourself from idiotic government policies and ideologies
– Gotta think about how the dollar gets manipulated since Bitcoin will remain constant
– Hara thinks at some point people will decide to increase the supply of Bitcoin
– This is a flaming hot take sir – I respect it
– We’re gonna be old bags of dust and these kids are just gonna be living in the metaverse
– It is so native and built into these kids
– Ledger: “We’re just gonna go away its gonna be like the blow off top of humanity”
Metaverse
– Cobie: “How do you think about NFTs?”
– Hara likes 2017 era NFTs
– Loves CryptoPunks – all about the narrative and the story
– Likes the old stuff, some of the new stuff is just super out there
– More of a Bitcoin maximalist even though Hara finds Bitcoin Maximalism super toxic
Bitcoin Maxis
– A lot of them might’ve gotten burnt in 2017 and now just think everything is a scam
– Calling anything that isn’t Bitcoin is a shitcoin means that mentally there is something wrong with you
– Cobie: “Part of the toxic maxis is that they missed out, then they join a cult and they have friends now and chant the same words and chant shitcoins and say “Udi you’re wrong!” and then go somewhere else”
– Hara: “The bullish case for me is when nations put Bitcoin on their balance sheet – they aren’t gonna put Ethereum or Solana on there”
Next Steps
– Ledger: “What’s next in your life?”
Hara: “I think its about sovereignty”
– Has always been an individual, wants to be protected instead of looking for gains
– Crypto is the #1 way to preserver your wealth
– Goal before was always to buy a basketball team (need about $1B) but once he got close he was like “idk i don’t really wanna sell my Bitcoin for a basketball team” lolllll
Basketball and NFTs
– Ledger: “How’s it feel to see these guys getting into NFTs? Does that worry you about where we are in the cycle?”
– Not at all
– Thinks that’s not indicative of a top, we are nowhere even close to euphoria
– People are out here protesting racism and other things
– Thinks people might/ should be protesting the dollar, is surprised its not bigger yet
– Hara likes the penguins! LFG
– Hasn’t bought NFTs in a long time
– These athletes aren’t buying punks cause they’re always looking for a deal!
Twitter NFT Integration
– Cobie: “How is this going to go down with the furies”
– Ledger doesn’t get why these are so controversial
– Hara wants to create an NFT project for all these furies
– Ledger: “They already exist they’re called FLUFs – I can give you a good deal on some if you want”
– *Cobie and Hara making fun of FLUFs
– Ledger: “Y’all just aren’t gonna make it”
Constitution DAO
– Hara didn’t do it, didn’t get it
– Thought it woulda been cool to get in then like burn it
– Ledger: “That’s a really good way to get regulators to pay attention to crypto” lol
Forks
– People trade on FOMO so hard
– Like there’s some random ass ohm fork people ape into
– ETH can get myspaced, all of this stuff can probably get replaced
– Bitcoin can never get replaced
– Bitcoin Diamond and Gold and Cash and all that stuff just no chance at all
The Flippening
– If ETH gets to like 0.08 I’m probably a net seller of ETH
– I don’t like to say ahead of time because its so hard to know the context for the move
– It probably signals a time to be cautious even when people are dancing in the streets
Chat Questions
Sports world guys we need?
– Steven A Smith
– NFTs are the gateway drug of crypto
Anon account?
– No
Bitcoin volcano bond?
– Interesting, can just buy El Salvador bond or Bitcoin though, don’t need this although it is cool and interesting
– Saylor will end with fireworks either way
*The Winklevoss are the only people to ever refuse coming on UpOnly. What an outrageous decision.
If you’re 25 with 100k what do you do?
– Would do crypto, trying to build something, tracking different wallets
– Prob not Bitcoin would do something more aggressive, L2s, track engagement, wouldn’t do leverage
FINAL ALPHA
– Hara: “Success = responsibility. Think about what is truly valuable and finite which is your time. Be mindful of your time and what you want to accomplish.”
Notes by Kevin
Music by GiovanniPickle
