Who Really Controls a Crypto Token’s Supply? | Daily Crypto IQ

[music] Hey [music] hey. [music] Hey >> [music] [music] >> I think that we're just holding on to something. Heat. [music] Heat. I think that we're just holding on to something. I think that we're just holding on to something. Just tell me what's over. Hey, hey, hey. I think that we just holding on to something. I think that we just holding on to something. Just tell me what's [music] Heat. Heat. >> [music] >> Hey, [music] hey, hey. >> [music] [music] >> Let's go. Welcome to the Underground Crypto Deep Dive Show. Let's get a move on it and start over on this 4hour BTC chart. Uh this has been a lot of fun for me honestly since we got close to or maybe have surpassed the bottom of the market. I have pretty much just lived on the 4hour chart. Now

I've always looked at the 4our chart even on a pretty [music] daily basis but I didn't just hang out on the 4hour chart and not go look at the 15minute chart all the time. That kind of thing. So this has been a lot of fun for me. Hopefully you guys are gaining something from it as well if you're not somebody who looks at the 4our chart. So anyways, we had this big move when the 21 passed the 200 cross the 200 and then now we're hanging out way up here right through this big area in the VRVP. Now of course it does kind of look like it could be setting up some kind of shoulder head and shoulder, but that's yet to be seen. So, I'm not freaking out until we lose this 21 with a couple candles. Oops.

Got the drawing tool on. So, as you can see, a bit of a falling falling wedge there with a very nice measured move, which is pretty much wick to wick there. And it says we could get up to about 84,000. So, if we're bullish, we should go to 84,000 here relatively soon. Could it make, you know, another shoulder and roll over? Of course, it's crypto. Anything can happen. Anything can happen. All I know is the fact of my own ignorance, but I watch it every day. One thing I will say is the stochastic RSI down here is reset, and that is a good sign. How's everybody doing out there? Reliable Jay says, "No losers. Winners only." Wins only. Yep, I'm with that. That's my kind of energy right there. Winners only. And even if you're losing, you could be

a winner. Just don't think of yourself as a loser cuz that never helps anybody be a winner. Nobody's been a winner because they always thought of themselves as a loser, right? So on Monday, we asked whether every crypto project actually needs a token. If you know the series this week is called Token Autopsy [music] and I hope you guys have been learning a lot because man it has been a fun show to do. Of course, highly educational. Welcome to the research stream underground crypto research stream that is. And on Tuesday we learned why market caps can hide future dilution which was really also a lesson on tokconomics itself. Tonight we move away from many tokens exist to people in organizations positioned to receive, control, vote, or sell them. A token can have a thousand holders and still be economically

controlled by a very small group of people. It can advertise a large community allocation even though a foundation or multi-IG decides whether those tokens go or don't. It can also have a major unlock without causing immediate selling. Basically, some projects can do unlocks and it almost is unnoticeable if the recipients remain aligned with the project, believe in the project, are really hardcore about the project, not just I don't know a venture capitalist who gets some tokens unlocked. Today's scheduled right release of Huma Huma and Optimism's recent decision to redirect a large unused airdrop allocation gives us two timely very relevant examples of why the identity and authority of the recipients matters just as much as the number of the tokens. This education is of course not financial advice here at underground crypto deep dive show. It is research centered.

Let's perform today's token autopsy and we will get right to that lesson here shortly. Giving time for people to come in. Who's in this chat right now? Struggle heart in the building. CCP in the building. Reliable Jay, of course. Melissa, Digital Revolution, I'm back for the most beautiful girl in the whole world. CCP, you're not here for me. I thought you were here because you loved crypto education. So, the quote of the day is the first principle is you must not fool yourself and you're the easiest person to fool. Now, that might almost seem repetitive because it is. I keep using this quote of the day because I love it and I don't know who's even paying attention to the quote of the day. So, I'm trying to see who's paying attention to the quote of the day by

repeating it every once in a while and seeing if anybody says anything. So far, nobody's saying anything. You're the most beautiful guy in the world. Hey, I appreciate that. I'm going to take it. You know, I don't know what else to do with that compliment, so I'm just I'm just going to accept that compliment. Thank you. The words community and ecosystem describe what an allocation is supposedly for. And this is what you may not know. Let me come back from the top because I just kind of jumped into that. What you may not know is the word community and ecosystem describe what an allocation is supposedly used for. They do not automatically tell you who presently controls it. An ecosystem reserve might be held by a foundation controlled multi- signature wallet. A community treasury might require token holder approval

or it might allow a small committee to directly to direct the spending, right? Directly control spending. Lock tokens can already have an economic owner even though that owner cannot sell them yet. A current example is optimism. Everybody everybody up to speed. Everybody know what optimism is? Crypto project optimism. A proposal that passed on August 24th reddes designated 546 million optimism tokens from an unused user airdrop allocation into a strategic ecosystem fund. It did not create new optimism tokens. It changed the intended recipient and who would describe or decide how those tokens are deployed. So that was done as a community and that is change in control without change in total supply. So that's the point of what I'm trying to say here is it's a big difference and great example and a timely relevant example of the difference between

changing adding new supply and just changing where the supply you currently have is going to go. So let's break things down again. We're on the 4 hour chart. I know it takes people a minute to roll in. RSI, stochastic RSI on the 4hour BTC chart has reset, has reset for a little while. That bare div has played out and we're still above that 21. Let's get a little zoom in since we're going to zoom in anyways and drop down to the hour. But as you can see clear as day that that 21, it's above it. That's a good sign for a continuation. Of course, can't sleep on what could potentially be a shoulder head and shoulder. And why is a shoulder head and shoulder pattern important? Because it's a known reversal pattern. You pump, you get a shoulder, head

and shoulder, it dumps. Right? That looks more There you go. What I made look more like Adam and Eve. where in in inverse in the opposite if it dumps and you get a should inverted head shoulder it usually pumps out. So they're known reversal patterns. That's why that would be important. But in an extremely bullish time you can almost make that shoulder head and shoulder and still pump right out of it. Right? So I kind of drew this flag. I drew it on the 4 hour. So it's going to change a little bit, right? depending on what time frame you're on because the candles are different. If you don't know that, you probably haven't done enough TA. All right. So, what the 1 hour is looking like to me. I mean, you have basically what we said we wanted

to see. beautiful sideways action and letting the 200 come up. Cuz in my time of watching charts, I've noticed when you deal a lot with your moving averages, 200 day, 21 are my two main ones. But you have your 50 and your 100 and stuff like that as well. The blue is the smooth moving average, 200 day. But my point is you can only really get so far away from your moving averages before they got to come back to your moving averages. This has been beautiful sideways action. The 15minute is under the 200. Does it get rejected? Right. [music] Are we going to get pinned between? And I'll get rid of the drawing just to make this simpler. The 21 or you see how it bounced bounced off the 21 bounce off the 21. Maybe we'll get a bounce

there and go right through that 200 or that 200 will say you cannot pass and it'll fall over. We shall see. But that's what I'm watching for. But I'm mostly hanging out on that 4hour chart. What is going on in this chat? Says, "Win Moon, you cheating on me again?" Says, "Melissa. I will never cheat on you. You're the one. I like rainbows and I thought ZCB was a female. She her J says still am. You're going to miss me more if you keep cheating on me with other." That's hilarious. And Melissa says, "Don't you do ladies? I'm out." I'm not sure anymore. I think CCP is just straight messing with us. I can change. We can all change. [laughter] Oh man. CCP always bringing that comedic relief. Let's get over to those crypto bubbles and kick this thing

off. Thank you for being here. If you missed the intro, uh, get here a couple minutes earlier. I think the intro is gold. We're going to do the whole show anyways, right? So, the intro is is introducing what we're going to do anyways. So, I guess if you miss it, no big deal. Whoa. What's going on with these crypto bubbles? Let's refresh it cuz sometimes it just be coming in all jumbled. Very strange. All right, there we are. Let's toggle that one through 1,000 and see how things are. Wow, 4 to 500 is up almost 8%. What else is close to that? Nothing really. We got a 4% down here. Once we get down into these like under 600 to a,000. Those big percentages are usually like one maybe two coins that pumped really hard, but they could be

worth looking at. All right, let's see what our big level vet. Nice Vchain. I have the tiniest bag of Vchain. Uh cuz I started buying a little. Sometimes I start buying some project and I'll buy, you know, $50, $100 worth and then I'll just be like, eh, I'm not excited about this. So, I'll move on, but I won't sell that bag just in case. But I don't even really consider that like one of my true bags cuz it's so small. So, I hope it pumps. I hope everything pumps, guys. I hope you guys get that. I'm very pro crypto, very permeable crypto. I could be honest about the market. I don't have that problem. I I'm not impossible for me to say we're in a bare market as you guys can see, but I want crypto to be the

only way. I want everybody to use crypto and I want Tradfi to go away, but that probably isn't going to happen. S&P6900 is ripping up 21% today. Pump. Fun up another 8.6%. Uh I wish Tim would stop would stop dumping. It's hurting my feelings. I need Tim to pump my trenchers. You know what I'm talking about. Pull uh up down 11%. Stable down 9%. Let's drop down another 100 here. Let's check it out. All right. So, Cisic up almost 24 25% there. Non-playable coin, that's a good one. 29%. Cash cat and up 128%. I want to see make aliens great again come back. Why did that thing have to die off? That could have been like a straight movement. When I was in Miami near the Bitcoin convention, uh that thing was being advertised everywhere. What was the point

of them advertising everywhere? Seems like a waste of money cuz they didn't do anything with the project. That's my opinion. Derive KAG. KAG up 20%. Kinesis silver. That's interesting. Anom, CVX, Convex Finance, Kite, and what is Cash Cat's market cap? 230, 230 million. Man, that thing really pumps when it pumps. And up is up. I mean, what do you expect from a project named Up? That's what I expect. 181 million. This category one through two 100 to 200 looks really good. Let's go to the next one. on ontology gas. We started talking about this earlier and this is ontology gas and then there's another token just called ontology pond. Talked about that a bunch. [music] Uh B&B anastation service. What is OMI? That's economy. Okay. Anvil [music] and this DGAI. We've talked about it a few times, right? An

inference project. All right. All right, let's keep moving here. Was checking the price of Lumina today. As you can see, has it changed? I don't know. It went to $3 just so everybody's on the same page. I feel like I got to talk about it because I've talked so much about it already in tokconomics. It went to three bucks. I started buying at like a$140, a$150. So, [snorts] that is good stuff. All right, let's do our price rundown. Overall market cap of all cryptocurrency 2.75 trillion. Looking good. Looking good.5% to the upside. And with that big of a market cap, it's pretty good. BTC 78,800 holding great levels here as you saw on that 4hour BTC chart. Up about 14% in the last 7 days. Ethereum 2495. I mean, do you guys remember we were just at like $1,800

like a week and a half, two weeks ago. Beautiful movement here. BNB $73. XRP dipped a little bit, right? It peaked. Let's take a look at that. Uh, let's see. No, we don't. We want 7-day chart. Let's see what was that peak at a $166. Wow, that's nice for XRP. Now, of course, there's a pullback. Pullbacks all over the place, right? Not a big deal. Salana back up over a hundred bucks. We love that. Hyperlid $81. Man, I can't believe Hyperlid was like 50 bucks just like a week and a half ago, two weeks ago. Zcash reclaiming that $800 region. And Dogecoin still hanging out under 9. Chain Link $1153. Monero $435. Cardono 21. XLM $18.5. Uh let's see. Toncoin $139. Avalanche $7.38. SWI 75. We are running through this pretty quick right here. and memecore a14. Let me

toggle today's news. What do I This got me. Okay, we're going to pull that back up in a minute. But let's talk about uh what is trending on Coin Gecko before we get to the education. I'm still in seeker. If Salana pumps, it will. Yeah, you guys really did well with those Seeker phones. I wish I would have realized that they were doing all of that back when they were really pushing those phones. I just wasn't in the in the Salano loop at that time. So, pawns, bit layer, pump.f fun, ontology gas, fudgy penguins, cash, hyperlquid, dog, bitcoin, ethereum, salana, xrp xp, spx6900. Say that 10 times, Athena, and Fartcoin. What is worth really reporting here? Let's talk about Bit Layer. up 331% in the last 7 days. It is its own Bitcoin contract cuz it is Bit Layer.

It's the layer on Bitcoin side chain BTC protocol. Nice. So, some real Bitcoin DeFi and it is it's up a good bit today. Bitcoin DeFi not doing has a couple projects that are not doing so bad. But I think it's like Bit Layer, RAT, and what's the other one? Bitway. Bitway was doing really good. Did it fall down? I'm not sure. Let's Let's take a look at Bitway real quick. It didn't have any crazy crashes, did it? Had a nice spike here, but no, no crazy crash here. It's up 420 per. So, Bitcoin DeFi doing pretty all right. Let's take a look at that fear and greed index. Lucos just started giving away Seeker as a reward on the app again. Love that. The next airdrop is coming soon, I believe, on uh DAB and daily usage. It's cool

that they're still doing airdrops. So, fear and greed index back up to 71. Yesterday it was 65. 7 days ago it was 62. I really don't want to see this thing get into extreme greed. At least not for very long. But we shall see. The market, it's hot. It's not red hot, but it's hot. 71. and keep that number in the back of your mind. Again, fear and greed index is sentiment more than anything. And we'll go to the trending coins here, but we're going to hop into a little bit of news. Let's see what we got going on. So, it's saying like the number one uh story here is the UK wants the Bank of England to support digital money innovation. Ah, you know how the news is. Once it's news, it's kind of [music] already decided. So,

the British government plans to give the Bank of England a secondary objective, support innovation in payment systems, and digital money, including stable coins while keeping financial stability as the bank's main job. This matters because the UK is trying to stay competitive in stable coins, tokenization, and digital payments without letting the central bank take over, take an overly defensive posture. That's interesting because they've been so hostile towards all of that. That's going to be difficult for them not to be an overly defensive posture. Shinhan and Visa are building stable coin payment rails in South Korea. I knew with a name like Shinhan uh Sheninhan, I don't know how to say it, but at least not properly. Visa is turning stable coins into bank grade payment infrastructure, not just crypto exchange money. Revolute. Yep. Finally launched its eurobacked EURR stable coin

roll out. And we've seen this EURR have a lot of pumps, right? Its first Euroback stable starting with eligible customers in Denmark, Poland, and Portugal. EURR is issued by Bridge Stripe Company and is designed to let users move between fi fiat and crypto. Right? You you know what a stable coin is, right? That's what it does. All right. Banks that fought stable coins are now considering launching their own. Who's surprised? If you can't beat them, join them. JP Morgan has reportedly debate debated it internally. A group, Bank of America, Wells Fargo, is working on commercial stable coin initiatives and small banks are organizing through a bank chain alliance. banks realize stable coins may compete with them and now they're trying to issue their own. Yeah, they spent forever lobbying against it. It didn't work. Um and you know, quote

unquote, didn't work. Who knows what goes on behind the scenes. Dallas Feds are warning tokenized deposits could weaken bank lending capacity. So, Dallas Fed economist estimates tokenized deposits could reduce US bank's ability to support long-term lending by about 700 billion if depositors become just 10% more sensitive to yield. The concern is that programmable deposits and AI agents could let customers move money instantly between banks for better rates, making deposits less stable as a funding resource. I get their point here. It's a good point. I don't think we should really let that matter much. Tokenized deposits sound safe because they stay inside banks, but they make bank funding less sticky. Basically, the money can be moved quicker and that makes it less uh predictable. They can kind of work the numbers when your money has to sit around for an

extra week or two. Japan is planning a blockchain settlement network for stocks and government bonds. That's bullish, right? Japan does not want tokenized capital markets to be built somewhere else. Hopefully, America is going to adopt that same idea. Tokenized equities are growing, but the structure underneath matters. So, summary here, tokenized stocks are not all the same. The legal rapper matters as much as the ticker. And if you're buying tokenized anything, please have some idea what the heck you're buying. Ah, that coffee hits real good. The SEC is reviving a crypto custody rule. Crypto custody rules are be are coming back, but probably in a friendlier form than before, right? Because SEC has been so hostile. Coinbase and betterm made tokenbacked mortgages has made the token back mortgages better and more available. This was something that Coinbase talked a lot

about when they did all of their kind of unveiling of everything that they're doing. What was that like a month ago? Month and a half ago. They had those like TED talk style uh I don't know what you want to call them presentation. Crypto is being plugged into the real economy through mortgages, not just trading and payments. I really been trying to buckle down and understand that whole payment or or a mortgage Bitcoin mortgage and stuff idea. I don't know. It just seems like it seems like the underlying asset is way too volatile to be used in mortgages, but what do I know? They'll figure it out. I'm sure they will. Ethereum developers proposed a first step towards quantum resistant staking. Ethereum is stated is starting that the quantum security migration before it becomes an emergency. The really interesting

thing is until quantum computers are used often. How do we really know if something is quantum resistant? And I really don't know if they have like are there quantum computers out there that like companies can use access to to test what they consider to be quantum resistant because it's like anybody who's been around for the last 30 40 years all right you've seen how quick technology moves it it literally doubles on itself on like a you know couple year basis. So, okay, they have something that barely passes quantum resistance, you know what I mean? Like say first first generation, but what happens second, third, fourth, fifth generation quantum computing? I don't know. It's very interesting. Hyperlid policy center and uh trade XYZ wants energy perpetuals allowed in regulated US markets. So energy perpetuals per are moving beyond crypto and

oil and market energy market structures. There's been projects trying to go after that energy uh you know tokens and structure for a long time. Khi disclosed 1.1 billion raised through a private equity offering. Prediction markets are no longer niche. They really are not. They're everywhere. They are becoming a major institutional capital race. I don't like the whole uh prediction market thing, but I'm also not like a big sports better or gambler. I don't like to just gamble all my money all the time. Uh Tornado Cash developer Roman Storm retrial was pushed to April 2027, so he's going to have to wait a little longer. Privacy software is still on trial even as the rest of crypto moves towards mainstream finance. stable coin spending could reach 50 billion a year by 2028. I mean 50 billion a year in the

overall economy of the world or whatever is really not that much money. India is planning its first tokenized corporate bond pilot. India has been so weird about all of this stuff. I don't know if what the problem with India is. If it's all governmental, is it the amount of understanding of the technology the average person has access technology? I don't really know. Defi development launched a real time state of Salana platform. State of Salana. We might have to read this one. Defi Development Corp. launched State of Salana, a public data and research platform tracking Salana market staking, validating yield and ecosystem metrics. The company framed it as a way to help investors look beyond the token prices and evaluate Salana's fund fundamentals. Basically, the stuff that we're trying to raise your crypto IQ and teach you. Um, they're just

going to try to make it in a manner where you don't have to know anything. Salana treasury firms are trying to make network fund fundamentals easier for the public and marketers yet understand. I think you should raise that crypto IQ. That's what I think. And let's see what's trending on socials today. Stable coin bank versus stablecoin tokenized market crypto custody and security prediction market and pers. Interesting. All right, let's take a look at what is trending over on crypto rank. Just wanted to get the news in there. I usually read too much of the stories. I love that it gives a little summary. We'll try to work a little bit more news into the stream just to give you that much more [music] value. Polyswarm bit layer city protocol previously cooking city. That sounds interesting. Oro Hivemine Digital [music]

Group. Never heard of any of those. They're all in funding rounds here. AI rig complex arc we remember kind of when that thing came out Algarand Next that's a funny one pawn lobster ontology open Eden Yumia weii true USD stacks fartcoin dog and adi chain let's look at this city protocol previously cooking city I don't why was it called cooking city that is kind of strange What? Six people here. Throw a 111 in the chat if you're with me tonight. And I don't know what I keep doing. I am messing everything up. There we go. So, cooking.c city has become one of the city protocols projects. All right, let's figure out what the heck this is about. It's DeFi portfolio management. Here's your founders cartoon pictures. You got to love that. That says, "Trust me, I got this." Raise

4 million. Dragonfly. That dragonfly is not a tier one, is it? It is. Yeah, it is a tier one. I thought so. All right, we got reliable Jay and Melissa. There's no way there's six people here. YouTube be lying all the time. Uh, total raised $11 million. Check out their website. This seems interesting. Neo finance infrastructure for the mainstream. We offer a collective of customizable tokenization and vault situations across major change RWA and strategy providers and distribution partners. Why is all the font so dang small? Tokenization and vault infrastructure. Pre-built tokenization models for institutional strategy. Okay. Your yield provider into your task layer NEO finance platform to investors. So you get it. It's a heavily financial product geared more directly towards you having a solution for your customers. Does that make sense? Get rid of some things I don't

need down there. Oro, this is new on my radar. I don't know what this is. intentbased AI platform and autonomous agentic finance protocol for web3 execution. Maple block. What is this like a Canadian thing? Yep. Just AI and AI agent. They raised $3 million. Let's get it from the top here. A decentralized artificial intelligence platform. an intentbased agentic finance protocol designed to bridge the gap between neural language commands and complex web3 execution by leveraging a proprietary shield engine and [clears throat] advanced conversational AI aka a chatbot. Um the platform allows users to state their financial goals. So this is all intention. This was like what a Noma was supposed to be, but it looks like they might actually be building it. I don't know what Ana is doing. They post a lot and I know that they've rolled some

things out. I don't want to be too hard on them, but uh they probably should Ana is a good example of somebody who or a project, not a person, but a project that really should have built a lot more before they decided to launch token. like they really should have bought or built most of what they were talking about before they ever bothered to roll out a token. Hivemind Digital Group total raise $17 million. Institutional digital asset investment firm and RWA tokenization platform. Seeing a lot of these come out. No tier ones involved. Actually, all like tier fours. Okay. Okay, it's a parent company of Hivemine Capital global investment platform operating at the intersection of traditional finance and digital asset innovation. So, they're positioning themselves very well for what is to come. Then we have Introphy. Inrophy, it's a

platform for trading perpetuals on crypto equities and commodities. Not a lot to report there. We've been over this a few times. They've only raised 14 million, which is not a lot of money. This UMaya, I don't know. We I think we've looked at this before. Finance is a UMaya finance is a launchpad for funding and governing crypto or tokenbased projects, which would be crypto if it's token based, right? provides uh Cayman legal structure. So regulation built in token issuance onchain treasury and public sale conducted through unis swap continuous clearing auction. Let's see what their website looks like. The operating stack for token native ventures. We've checked this out a little bit. The new venture playbook on Yumaya or Yumia. I'm going to go with Yumia. [music] Uh raising money means bringing in your most loyal believers from day one

because they share in the upside. They truly align and actively help you scale, launch your venture, raise for from your community and govern with decision markets. Blues guy in the house. Welcome in. welcome in. Thank you for being here. All right, Yumaya, it's on the radar. I think we've looked at it before or there was another project that was very similar. And ADI chain, I want to put that front and center because I think ADA ADI chain will do really well. It's an institutional layer 2 for stable coin RWA in Mina. Come on. Where's the more advanced definition here? So, ADI chain is a modular layer 2 blockchain secured by Ethereum that targets emerging markets. It processes transactions offchain using ZKYNC, Atlas, and Airbender Stack. probably pri stuff stuff that they built proprietary stuff verifies them with zero knowledge

proofs. It finalizes on Ethereum with high throughput and layer 1 security while remaining Ethereum virtual machine compatible to support Ethereum smart contract and DAPs with low fees and fast settlements. I've been keeping an eye on this project for a while. They seem to be doing really well. They did pump really hard. Let's see. It just pumped from $360 to a high of $7.64 cents. Well done. Nice double up there. Been talking about ADI for a minute. All right, let's move on to that educational part of the stream. And we're caught up on the chat. Good looks. Good looks. Shout out to all my undergrounders. appreciate you being here with me on a Wednesday night. Uh, no surprise, Wednesday a lot of times is a lower engagement day, but we've been doing pretty good today. So, the problem is most

problems glance at token allocation charts. Most people, sorry, most people glance at a token allocation chart and accept labels such as community, ecosystem, or treasury at a face value. They just accept that that means what it's supposed to mean. That chart usually does not reveal things like who controls the wallets, who controls the recipients of things that are put out, whether voting power has been delegated, when the tokens become transferable, and what the recipient originally paid, whether multiple wallets belong to the same organization. So instead, we want to treat token distribution like an ownership and control map, not merely a colorful pie chart. For every allocation, ask four questions. Who is economically entitled to the tokens? Who currently controls the keys or spending authority? When can the tokens become liquid? And what incentive does the recipient have to hold

or sell? The payoff here. Once you answer those questions, you can distinguish between supply that is genuinely distributed, supply that is concentrated but still locked, supply that is controlled by a treasury, supply that is unlocked and capable of reaching the market, and supply that can influence governance without being sold. That gives you a much more realistic view of a token's risk. Now, ownership, custody, control, and liquidity are all different. So, let's break it down. We'll start with the definitions. Ownership, who is entitled to receive the tokens. Custody, which wallets, contract, exchange, or custodians hold tokens. Control is who can move them, delegate, vote, or distribute them the tokens. [music] And liquidity is who those tokens actually be sold today. Can those tokens actually be sold today? Who can sell them? Right? Do not treat these four concepts as interchangeable.

Decode every allocation bucket. So team and advisors ask whether the allocation is individually vested, controlled through one wallet or managed by the company. Private investors, right? Investigate the purchase price that the private investors paid. It's highly knowledgeable because you need to know when they're up a 10x or when they're up double their money. Vesting period unlock dates and whether many investors are connected. Foundation or a treasury. Determine who controls the multi-IG wallets. How many signatures are actually required and whether spending requires a public vote. That can be hard information to get. How many signatures are required? That could probably be hard information to come across. Community or ecosystem. Find out whether tokens have already reached community members or merely reserved for future distribution. Basically, do the community members already have the tokens or are they waiting to get them?

Market makers and liquidity. These tokens may be immediately active in the market even if they're not intended as compensation. Of course, public sales and airdrops distributions may be broad initially, but wallet consolidation and de and uh delegation delegation can later concentrate the control. Locked tokens does not mean unowned, right? They're still owned by somebody if they're locked. Locked team tokens or investor tokens already belong economically to those recipients. The lock only restricts when they can transfer transfer them or sell them, right? That means the incentive may already exist even though selling ability doesn't. They might already know what they're going to do with those tokens even if they're not capable of doing it yet. The correct question is not simply are those tokens locked. It is who receives them when the lock expires. Current example tonight is Huma. August

26 release was scheduled at approximately 10 million representing about 17% of its previous unlocked supply. The allocation involved private investors, the founders team, the founder in the team category and reserves, right? They were all getting a share of that unlocked supply. That recipient mix matters because early participants may have a very different cost basis and objectives from public market buyers. However, the unlock is potential supply, not proof that every uh recipient is going to sell immediately. I guess it depends on how they feel about the project they're involved with. Current example, optimism. Optimism demonstrates a different kind of control event. The 546 million optimism tokens involved already existed. They were not new supply. The change did not increase total supply or automatically place those tokens into circulation. If you remember from the intro of the show today, it redirected

their purpose from future user airdrop to a foundation deployed strategic fund. This teaches us that control can change even when the supply numbers stay exactly the same. They just changed as a community, I believe, through the DAO where those tokens were going. They were sitting somewhere. They were supposed to be used for an airdrop and for whatever reason they were left over. Recipient type can matter more than headline numbers. A $20 million unlock directed towards users may behave very differently from a 10 million unlock directed towards early investors. We want to consider the recipients original cost basis. When did they buy those? Whether the recipient needs liquidity, whether tokens are distributed among thousands of wallets or just a several, right, or just a handful. whether the release is automatic or discretionary, the market available liquidity, and whether recipients can

stake, vote, or use those tokens without selling. Large unlocks is beginning of the analysis, not a conclusion. So, there's a large unlock, but if a project has no staking, then less people may hold on to them. If staking yield is really good on a project, those people holding those tokens might go stake them and stay inside the project, not sell them off, which is important to you. Uh, Blue Sky says, "Hope everybody is doing amazing and having a great time. Life is full of beauty if one wants to see, especially when we're pumping." Absolutely. Eugi, great to be here, bro. Glad to have you. Thank you for coming to the underground crypto deep dive show. Economic concentration versus governance concentration. This is important. A holder does not always need to own most of the supply to control governance. Control

can be concentrated through delegated voting power, low voter participation, which a lot of Dows are, treasury committees, multi-IG signer authority, proposal threshold, and large blocks of inactive tokens. A project can therefore appear widely distributed economically while remaining concentrated politically. And of course, remember that voting is pretty much decided by the project, how it's set up. Some allow every person who owns tokens to vote based off of what they have. Some try to even the playing field. Some say, "Hey, you probably are going to be inactive. Delegate your voting share to somebody who's more like a representative." It's not the same in every DAO. And DAO is not a universal setup, right? It just means it's a decentralized autonomous organization. That's all that's really needed to be considered a DAO. How to investigate ownership? Use this order. Find the official

token allocation document like white paper type stuff, right? Separate the team, investor, treasury, community, and liquidity allocations. Locate the vesting and unlock schedule if there is one. Some projects don't have one. They [music] just kind of willy-nilly do whatever. Check the tokens largest holders on block explorer. And I will say that if uh you're a big serious project, you're going to find a vesting and unlock schedule. And then go find the largest holders on block explorer. Identify vesting contracts, bridges, exchanges, and treasury multi-IGs. Examine who controls those multiple signatures. Review governance delegates and voter participation. Track the next 30, 60, or 90day of releases. Ask who receives each release, not only how much unlocks. Wallet count alone is not enough. [music] One organization can control several wallets while one exchange wallet can represent thousands of customers. Red flags. This

is the part where you really want to dig in. Cigar says, "Uh, hello sir." Cigar Kumar his side. Well, welcome in. Thank you for being here. I appreciate you stopping by the show and hanging out. Here's the red flags, right? could be the most important part of this teaching. So, lock into this if nothing else. Allocation categories use vague or overlapping languages. All right? We don't like vagueness in road maps [music] and in white papers. We want specific clarity. Team and investor percentages are difficult to find, meaning it's hard to tell how much of the supply has been given to the team and the investors. The foundation can change allocation purposes without meaningful oversight or any input from the people who own the coins. Vesting schedules differ between official documents and tracking platforms. Several top wallets appear connected. That's

not good. That means they're more likely to be the same people. Governance participation is low and a small group of people therefore controls the outcome. Look, just like real governments in real life, governance in real life when the participation is very low than a small group controls. Major recipients have a very low cost basis and nearterm liquidity. The earlier they got in, the higher they're up, the more incentive they have to sell. Constructive signs. So the positive signs as of course clearly identified allocation categories public vesting contracts long gradual schedules rather than a sudden clift right meaning the coins come out gradually versus like on this date 20% of the supply comes out that's not really good if you're going to if you're going to do that kind of thing I'd almost sell prior to that and get in

lower because it's guaranteed to be lower because it's diluted. Okay, maybe not guaranteed, but it's highly likely. Transparent multi-IG signers, recipient level grant reporting, publish treasury uh transactions. Can you see what the treasury has been doing? Meaningful governance participation. A large amount of people participate in the governance or it's been delegated to representatives. Explanations when token allocation or schedules change. So, do they communicate? Well, that becomes the question. Let's look at our top gainers, top losers, and let's go get some ETF stuff. Crypto ETF. So, top gainer, Convex, Derive, and S&P 6900, Fartcoin, Vchain. I'm I'm glad to see Vchain up there because we haven't seen it represented much here lately. Polygon, Plasma, Metadalow, Layer Zero, and Aikido, Optimism, and Pith. And we just talking about Optimism having some unlocks. Pith Network. There's been uh some rumors about Pith

Network being a really good pick. I just see all the games that everybody plays, you know, from the media to the news, which is [music] the media. But you get what I'm saying. It's hard for me to trust anything. So, when people try to give like some [music] inside scoop information, a lot of times I'm like, I'll buy a tiny bit of it, but I'm not going hard on it. And a lot of times it doesn't play out. Let's look at the chain revenue. Obviously, chain revenue is way up. And this is the 21st. What is going on with this chain revenue? Why are we all the way back to the 21st? That was freaking 5 days ago. What is going on? Are they like not updating this chain revenue anymore? I don't get it. I mean, it's literally

back to the 21st. That was 5 days ago. All right. So, we're not going to look at that. Let's hope the crypto ETF stuff has been updated. What's going on, Block Works? Let's see what their most recent day is. The 25th, which was yesterday. That's good. 24th 20. Okay. So, we have that gap. So, we have the 24th of August. BTC had 344 million. 355 million inflows on the 25th yesterday. This is good. It's still very high meaningful inflows into the market and we haven't seen really any outflows since 17th of August and they were small. What was the last like big day of outflows? Probably the 3rd of August. It's looking pretty good. Let's hope that that can continue and con and continue to [music] go up or just stay consistent with that money coming in the market.

If the money keeps going into ETFs and not out of ETFs and not in and out and in and out and in and out, then it's the same money, right? If it's in and out. But if it keeps coming in and not out, then it's more and more and more and more money pooling into a project. All right, let's go take a look at uh we haven't done a Twitter doom scroll in a while. So, let's go ahead and get on here and do that. Nvidia just crushed earnings from the mentor himself, Sam Price. Make sure you're following Crypto Lifer 33. Make sure you get the right one because there are definitely copycats. And uh if you think somebody like Sam or a big person on Twitter is messaging you, they're they're not. Um data center printed 89 billion

stocks ripping 5% after hours with another 200 billion slapped on the market cap. Risk on just got fed. That juice usually finds its way into crypto. Exactly. You can hear what's being said. said, "Wales just jump just dumped $240 million worth of XRP on Binance." Huh. I don't know. They're up, I guess. Walking into my job knowing my entire future depends on a bull run of imaginary internet money. That's pretty good. I love that. Shout out to Ronin posting about Yakaman. We We got Yakaman up somewhere, don't we? I guess I don't. Let's go ahead and pull that up. Where's it at? Yakaman. You saw nothing. All right, just tapping my little egg and making sure we keep collecting our stuff. I think I already did this actually today. So, you can see all the stuff in the inventory

inventory that we've racked up here for when this thing launches. I haven't been going hard. I haven't been like trying to be in the top leaderboard or anything crazy. Just been doing the barebones necessary, but I'll still get some free stuff. And the hype for this thing, I think, is going to be pretty big, especially initially. So, shout out to Yakaman. And remember, this is a Twitter doom scroll, so I have no idea what we're going to see. I noticed a lot of people crypto portfolios are very inflexible. Flood runs a family office trading crypto full-time. This is actually structures positions. Yeah, interesting. The SEC chair says he's doing everything to get the Clarity Act done. Get clarity. Yeah, this person I don't know why I followed them, but they're getting unfollowed. Unfollow. They followed me and they looked

like they were a more serious page, but they just keep posting like, you know, XRP to $10,000 and all this [music] stuff all the time. These are the type of people that I'm talking about that do this stuff for like clickbait. Let's see. She had just made a post earlier like yesterday. Yeah. Hits over $10,000. I'm here for it. But I just think it's kind of like that's all you do is you you call yourself like a web three kind of like educator and stuff, but all you do is post about XRP every day all the time. That's lame. uh get some better content. Uh early is better my capsule. So Gachifi I don't know what this is. Claim and post your capsule. Now I follow a lot of different uh How come they have like roads? I don't

have roads. They have like a whole legit town with their little roads. Spooky Island to open its gate on September 7th. Huh. All right. I don't know what that is. It's the one thing with the Twitter doom scroll. I have no idea what we're going to find. Flower bullish. Yep. Definitely flower bullish again. And I get a lot of content now around a lot of gaming. You know what I just thought of which is uh board apach club. Make sure I get the right one and hit that website apchain.com. I don't actually think I don't think this is the right thing. Oh, yeah, it is. Okay. I know the other side they were building something. They were building this uh these different games and stuff. Open Sea, Clutch Market, Slab Crash. Uh Other Side. Yeah, the virtual world first.

Let's go check them out over on Twitter. Other side meta. Should be definitely following them. I thought I was 270 million followers. Well done. Let's check this thing out. Basically, I was wondering if uh they had launched their like metaverse type thing. Anybody mess with this? Anybody got in on any of this? I'm wondering how many people really are online on this on a daily basis. A million dollar and ecosystem reward. All right. The last time I looked at this, it wasn't out yet. I don't know why this reminded me of it, but it is what it is. A thousand invite only playlist for this BR Infinity. Where were we here? Let's back this thing up. Is it in browser or is it a download? If it was in browser, that would be really cool. must be signed in

to access. I don't think I have an account. All right, I'm going to keep that up. We'll we'll figure that out later on. And welcome to the Underground Crypto Deep Dive Show. We've been through our educational topic today and keeping a pulse on the market. We've even looked at the news. Now we're hanging out and we're looking at just all things crypto, DeFi, web 3, whatever you want to call it. Reliable J says, "Do you earn Apecoin?" I have no idea. That would be a good question for like chat GBT. This is pretty interesting here. This is this uh BR1. Real quick, let me uh let me change my sound settings so you guys actually get the sound of these videos and stuff. If we're going to be doom scrolling here, tell me how you like the doom scroll

segment and tell me how the sound is on this. Is it way too loud? Not loud enough? Are you guys getting any sound from this? Cuz I don't think you are. There we go. Now I did it right. Are you guys getting sound? I'll run that one more time here just cuz I think I had messed it up. I see quite a few of these games coming out here recently. Uh, reliable J, is there any way you could look into that real quick for me and see if you earn any apecoin? If not, I can just look it up on chat GBT. I don't want to leave you hanging on your question, but uh you're really good at getting that kind of information here. So, it's like apes versus uh $5 for an account. All right, we'll keep it

rolling. Where the skin means nothing can upset you. What is this? I'm fine. Skin. Okay. Declaration of memes. You told your girl to calm down. Instant fire tornado. Yo, that is wild. Actually, it's pretty funny. If you bought Cheesecake Factory at any point since 2021 for any reason, then you've outperformed the holdings of Ethereum for five years. That's pretty funny. Not going to lie, it's pretty Yo, look at these these robot races are hilarious. Yo, look at that thing go. And he just breaks. Bang. And he's done. Just seeing what's going on through social media. I thought it's a pretty fun segment. What's the name of the coin? It's Ape. Apecoin. Pretty sure it's just Ape, right? Yeah. Ape E. Ape. 2027 in 4 months. Me who lost track of time since 2019. Very true. When I buy it

sells. When I sell it buys. Yeah, I know the feeling. We've all been there. Right back from the dead again. Hilarious. I don't worry about Kea cuz it's not influenced by fickle crypto plebs. The institutional narrative is probably the strongest in crypto. Look at layer zero. They process annually crosschain over 150 billion. Atlas is literally institutional tradfi crypto meeting point. Let's take a look at this. Instead of operating in cryptonative vacuum, layer zero built the underlying infrastructure for collaboration with major heavyweights from Titional Finance, Citadel, Trust and Clearing Corporation, International Exchange, Arc Invest, and Google Cloud. The platform launches with support from top global market makers to ensure deep liquidity from day one. It will initially support spot crypto assets and perpetual contracts with plans to expand into tokenized real world asset options and trading futures. We don't focus

on Kea enough. So I I feel like that is a that's a good bit of information to put out there. Currently real estate shopping bull market vibes. Yeah. Yeah. I'mma buy me a compound like that one day, right? So, experience nonstop. Oh, that's the NBA. All right. Coinbase. Yeah. Brian Armstrong. This This person just posts over and over. A recent episode by these people breaks down what makes Caspa stand out from everything else. What is that? It's only like 49 seconds long. All right, we're going to move on. But that was fun. Touch base there with a little bit of social media. The name of the game is called Other Side. It's like a metaverse and it's built by Board Ape Yach Club. The coin is Ape Ape token. I'm sure you figured all that out by now. Let's

hit some chainers and let's get some free B&B coin. Can't be mad about freebncoin. Harvest everything. Get to replanting. How has it only been an hour and 15 minutes? I have been like straight moving through these streams this week. It's kind of crazy. And we even did the news. A lot of days we don't even have time for the news. So, I don't know how we manage that today. just planting random stuff essentially. And let's put everything into B&B and ship it. Oh, wrong button. Let's see how much B&B we hold. 04 BNB. B&B is worth good chunk of money right now. Claim our daily rewards. Hit that daily game and then we can move on to something something else. The answer is no. Earned only spent to buy lands and deeds. Huh. Well, that's not very good. Is

there maybe like a secondary coin created for rewards? A lot of times they'll do that. And welcome to the underground hangout section of the night. All right, let's go to miniames. Hit that miniame real quick. Only XP is rewarded. Yeah. And that's where it gets a little random, right? Cuz like what is the XP? Does it have any value? Who's gonna grind for something that has no value? It's kind of like meme core. Their staking was for like an XP and then nobody has any idea what to what they can even do with it. It doesn't make any sense. I just did it cuz I bought $100 worth of meme core just to hold longterm. I was up almost 3x before it dumped. I wish that these uh enemies would come out a little bit faster. I'm just walking

around the map. There's literally nothing. Oh, I missed that TNT. There's really no point in it. I don't know. Chainers is getting a little stagnant if you ask me. I mean, it's kind of like a constant farming thing, so I guess you can't be too mad at it, but like do something interesting. I don't like to see. It makes me nervous when projects get stagnant. Now, I don't have a bunch of money like invested in this. So, I guess I don't really care too much. But if they want to survive, they need to roll more. They got to be interesting. You got to keep people excited. And I just like I see so many projects now rolling out stuff constantly. Kindra shipping new stuff on a daily basis. Speaking of that, next I'm going to check out some of

the things that uh Kindra just shipped. Luminina just shipped a bunch of new things. By shipped, I mean they they put out new features and stuff. They got the rip packs. They've got the casino, which I've never actually been to the casino. But then at the same time, you also have a bunch of ingame stuff, right? The end of the game, you're high level, you beat all but they have a bunch of stuff for all that. They have competitions with like a thousand Lumina give back, you know, in rewards. Like they're doing stuff. What is Chainers doing other than launching a new season where they need you to spend a bunch of money so that they can make money? It just doesn't make any sense. Not a fan. Let them take us out here real quick. Cam in the

house. Welcome. Welcome in. I think this coffee is finally it's finally starting to kick in. Star and huh. And let's go back to the farm real quick. See if we have anything to mesh together to level up. BTC decided to pump today. As UG warned me yesterday, I got caught with my hand in the cookie jar trying to short with a limited order that popped off. Well, I'm sorry to hear that, brother. I will say when you know when everybody starts saying like, "Oh, it's got a dump." That means they're all going short, that means there's a ton of liquidity and stop and uh stop losses, right? And a stoploss is a contract. It is a order. And that order says, "Hey, look at me. I have a position open and I am willing to sell my position for

less money than I bought it for." Again, that stop-loss says, "Hey, I am willing to sell my position for less than I bought it for." Like, I'm willing to lose money. Come and get it. And the market makers are like, "Thank you. We see this large pool of money that you would like to give us as the market maker for free. We will take your large pool of money and then we will go distribute to the other side afterwards. And that's how it goes. Holding my short. It's just starting to come back down. I still feel like the trend down until we retrace. I I do agree though like there is some downward pressure. We've had a lot of big pump, right? And I think you may see some pullback. The only real problem is that like in this

environment when BTC moves, it's got big players. And as you just saw, when it decides to move, it moves violently and you may not have time to get out before you're massively underwater. So hopefully you're not using too much money. As they say, don't risk more money than you are willing to lose because you you might lose it. and welcome to Sunflower Land. Still one of my favorite games. Just going to do a quick collection here as it kicks off the new day. Harvest these tomatoes and the lemons and the oranges and the blueberries. Chop [music] down some trees. See if I get a free 200 coins. Nope, not that time around. Salted fish needs collected. Need to salt some more fish. It's what you use to level up in this game is all the food that you eat.

Collect some more salt there. Keep those composters going and giving us uh giving us good stuff. Some fishing lures and things. These chickens are awfully demanding. mix down all my barley after the cows are just so freaking expensive to feed. Not feeding those cows anymore. I will just buy milk. I'll buy milk on the market. That's it. Right now, my dilemma on sunflower land is I need to buy crimson stone for the next upgrade, but I'm getting low on my sunflower. I need to buy some more and I've just been putting off doing it. Let's grab some more pickaxes. Sometimes the limited number of like stock gets really annoying. I don't I don't really know what it is, but I'm going to trust that it's like an important endgame economy mechanic. Hopefully keeps everything running properly. And let's plant

some cauliflower. Oh, wow. We got all new quests. I definitely don't have any grapes or any tuna. Oh, I have actually three out of the four. $20 account. Yeah, you'll survive. Yep. Sucks to get liquidated though. I have big dreams, big hopes. Smaller amount of money that you trade with, the harder it is to actually grow the account. So, if you only trade with like five, 10, [music] 20 bucks, and I know I've tested it, I've done it. It can be pretty much impossible to come up unless you get one really good move that, you know, turns your $20 into a $100. But even I a lot of times I start with like a hundred bucks and uh it could be very hard to turn just the fees eat your profits alive. You need like a good five, six

hundred bucks. But then you're now now you're risking five six hundred bucks, right? So there's a catch 22 there. Let's see. Said pumped to the 200 on the 15. Seems like a good place for it to go back the other way. I'll see if I wake up 20 down 20 bucks, right? Yeah. I mean, the sentiment in the market is a little bit stagnant after the big pump, but I would say overall higher time frame still very bullish. and maybe small pullbacks like you might get into profit but I don't see us like really free falling but it could happen like I always try to tell everybody like this is crypto and we're not past that October 5th like you know 1,038 days from bottom to bottom that we've consistently seen be pretty accurate marking bottom. So, I don't

know. Don't think we're out of the woods yet, but we have seen everything kind of early, right? We've seen the bull markets start early with those Bitcoin ETFs. We've seen, you know, them the rallies end very early. Altcoin season be totally off. So, it's hard to say exactly what's going to happen at any given time cuz more big players really means nobody knows what the heck is going on. But those big players and what they decide to do and big players, they live in a different world. They play on a different time frame. They'll hold things for years, 10 years. And that can be a little bit too slow for retail. Retail get discouraged in that amount of time for sure. All right, let's see what other quests we got. Grapes. I have no grapes. Let's see. Iron. Let's

travel to the plaza. Hit that. I'm making it hard on purpose. There you go. I love to make everything difficult uh on purpose. It creates character. I have poutine and smoked meat today for lunch. Boss treated us to a food truck. So he like he felt bad. Your boss felt bad that he like scolded everybody yesterday. So he's like, "I got him today. Food truck. They can't be mad at me if I treat them all to lunch." Well played, Mr. Boss man. Well played. All right, we need to hit this little update right real quick. Bro, smoked meat in Montreal's are the best. I had one the other day. There was more bread than meat. Not Montreal. Okay. Have you tried uh Texas barbecue? We got some good barbecue here in America. I don't know what barbecue is like

in Canada. I mean, I guess it's cold all the time. To me, like to me, winter type countries, cold countries mean large game kill, right? Big animals, lots of meat, smoking, barbecuing. That's what I would think should be happening up there. All right, let's move on. Let's play some Kindra. Got to do my dailies over on Kindra. Ah, it's fun to do the show. I love to raise my crypto IQ every day, and I love to end the show with just hanging out, playing some different crypto games. We [music] do have some new games to check out. There was one that Reliable Jay was showing me the other day. I guess you texted it to me. Shrug of Heart says, "Yeah, it's been fun. I've been having a great time. Okay. [snorts] So, what's the name of the So,

let's just pull this up real quick. Make sure that that is not a sponsored link. Got to slow down, guys. Make sure it's not a sponsored link. Oh, multiple wallets detected. We detected a conflict between your wallet extensions. They are conflicting with each other for control of this page. Uh, reload the page. There we go. How about that? I'll decide what wallet. This is weird. How did my wallet connect to this? Unless when I brought it up on my phone, maybe I already connected the wallet to it. Maybe that's what it is. I like when I choose what wallet is going to connect. All right, so we're going to come back to this in a minute. We're going to play. Wow, I already need to refresh it. Crazy. I just literally logged in. Kindra always with the updates, which

is a good sign. So, there are some new games on the radar. T5 Friday is right around the corner. So, what is new with Kindra? Give it a minute to kind of load up. Well, when you hit C and you look at your character, now we have a a much better page here for our character. We got Jimothy in there. One thing I did notice, anybody have an answer to this to Kendra? Like I see some uh damage like on my weapon like durability. How do I fix the durability on my weapon? We lost connection. Okay, I guess we're having connection issues. Kind of reminds me yesterday we had some uh some internet issues. Was that yesterday or was that the day before? I can't remember. Come on, Kendra. Let me in. Links to everything that we do in

the description. If you don't see a link, just holler. The Discord is of course pinned in the chat and the description. If you are new to the channel, if you love some DeFi gaming, if you think gaming has gone on too long without giving the gamers who spend money real real value, real ability to own assets in the game, well then you are already a huge fan of DeFi gaming and you don't even know it yet. Scroll all the way down on what? On this. Scroll all the way down where merchant for durability. Really? The merchant for durability? Why wouldn't the blacksmith the blacksmith should be the one to repair your weapons? That just that just makes sense here. Repair with planks and ingot instead of gold. I mean, can I just repair with gold? How about repair with

gold is cool with me. Okay, so we need to rack up some planks and some ingots. That's pretty easy to do here. The store. Okay, you would think that the blacksmith, that's where I had checked. The blacksmith should be where you do that. Not really sure how many I need here. go to the the big rock over here. But I know it's I know it. But it's Yeah, I got you. We checked it out for sure. I'm just putting in my two cents as if it matters. All right, let's go to craft and make us some planks and some ingots. I don't know if we have enough to actually fix anything, but we'll go check that out. want to break my weapons. Salvage. Hold up. >> Vlad the merchant. That is We are at Vlad the Merchant. I'm confused.

I don't want to click salvage. That sounds like I'm going to destroy my item if I salvage it. >> Repair men mind mend worn gear. >> I don't know. Salvage just seems like the wrong word. Are we like not close enough to him or something? What is What is the problem? Ah, okay. I guess I'll just spend gold anyways. Repair with planks and ingots instead of gold. I'll try it on the iron shield. Yeah, we've salvaged your shield back to full. That is just that is not the right wording. Nobody Nobody salvages their shield or their Nobody salvages something into repair, >> right? Am I tripping? Isn't salvage in most games usually a term used to like break things back down [music] into smaller resources? I don't know. Instead of salvage, it should just say repair. I think that's

kind of confusing language here. I don't know why I'm still mining. I don't need to do that. be on top of MM repair. I guess he likes it. I don't know. Not Not my thing. All right, let's donate some planks to the monument cuz well, I don't want to hold on to them. All right, we need to hit our trade of the day. We got our swift potions. So, we're going to go for that. That hardest possible quest. There it is. Getting attacked. Just keep hitting the fish. keep our health from going too low here. Right about here, they disappear. All right, so first batch. I mean, when you get the fish for free, Swift potions are 40 gold. It's really no big deal considering I'm going to make like over 1,800 gold on this. I feel like they

didn't used to disappear before. After a certain distance, they disappear. I feel like that's different. Feel like they did that to turn the difficulty level down a little bit. >> I'm with it. Makes sense to me. Moses says, "I have to get some sleep. See you guys later." Thanks for coming to the show. I always appreciate it. And uh definitely get some sleep. It's a hard commodity to come by, I tell you. There we go. Now they disappear. All right, that was good. What's that? 1,800 gold. Uh, it doesn't say. All right, the drowned king. He goes down. So, I don't think we've quite hit. We'll do an easy quest here because I don't think we've hit it yet. Our full allocation of gold that you can make per day. Yeah, but I mean we could pretty much do

it in two. That makes life pretty easy. >> Yeah. With a newborn soon. Exactly. Yep. I'm about a month away from having a newborn in the house. It's all right. I barely get a lot of sleep anyways. Too much stuff to do. It's looking good on the TV this game. There we go. Turned it in. Hit our limit for the day. Now we need to go to trade. Make sure we're not buying stuff. We want to sell stuff. We want to make money, not lose money. Let's see. We want to list these Kinder crates, not buy them. I don't know how I bought a bunch of crates. Like, I don't even know how that was possible. Well, we already hit our,000 cap that fast. What did I even sell? Busy is your friend. >> Most of the time it

is. Most of the time it is. >> Uh, what was I trying to do? Oh, I was going to go put some money in the bank. Out of sight. Out of mind. Let's put uh six. No, no, that's too much. Let's put 4500 away. Just enough to do the trades with. I need to get my uh my foraging up. Very limited amount of foraging you can do per day. Also, I saw there was like docks added somewhere with boats. See this fallen star? Let's grab that. Take out this boss over here so we have some stuff to sell tomorrow. I want to find this docks as I uh also try to do all the foraging. Guess you can only do like 12 foraging spots a day. Man, that makes it hard to level that up. Another one over here.

Another one there. What are we up to? Six out of 12. over the halfway mark. You would think I'd memorize where all of them are, but I haven't. Let's hit this one. Might as well take this guy out since he's like the easiest. We got three tendies. Worth it. There we go. I'm like, am I even attacking this guy? I want to go find out where the new like boat dock is. Is it a boat that takes you somewhere? Want to finish up this foraging. I only need two more. All right. I think the boat docks the boat docks would make sense to be over here. Thank goodness for the mount that makes us travel easy. Definitely down on my fish a little bit. Okay, so that is not the dock. Come on. Perfect catch. I want that Marlin.

A Marlin sells for a lot. I really should drop the 40 bucks on the founders key. I will probably massively regret doing that, not doing that in the future. Maybe we shall see. Time will tell if uh doing that or not doing that is highly profitable. Sometimes things are highly profitable to not do them. And sometimes you can't figure out why in the world you didn't do it. I mean, I would hope I could sell that founders key later on for probably way more than 50 bucks. All right. Where's this dock? That dock's been there. All right. I'm thinking the new dock is in the new city. That would make too much sense. So, I don't know why we would do that. You shouldn't do things that make too much sense. Should only do things that make a little

bit of sense. if you get what I'm saying. Obviously, it's tongue and cheek. I'm just kidding. We got a shark. Why do I feel like shark saw like a post about shark going for like a lot of money or something? Something like that. I don't think I was supposed to cook it though. Oh, wow. I like how they just started a fishing frenzy right after I just finished. Yeah, I don't see any new docks or boats or anything like that. Apparently, when you hit Q, it throws snowballs. I have no idea what the point of that is, but nor am I able to aim and hit anybody with it. Yeah, I have no idea where these new docks are. Maybe they're not in game yet. Maybe they were just teasing it. Either way, we got one more day until

D5 Friday. Take out some more B bosses here. Take out this big boss that I just unlocked at level 20. What am I? Level 22. All right, that's not bad. Sure takes a while to beat him though. Take some free gold. Let's go. Let's go. I've never tried the casino. Let's see what happens. Well, we'll hit some roulette. We'll bet 100 gold on Let's bet it on red. I like that. [sighs] And how do we spin? How do we spin? Oh, no spin. You have to step inside the casino to place your bet. I don't even know what that means. I don't I'm pretty sure you can't go inside the casino. Yeah, I'm not understanding black. Oh, wait. What? Oh, you have to click down there. Okay. So, I guess I bet black even though I [music] I wanted

to bet red. There we go. We got a win. If we get one more win, we'll be up. There we go. Now we're up. All right. And that's the [music] casino. Feel like they can make that casino a little bigger, a little bit more immersive. [music] Oh, we got to do the the wheel of the day. Then I'm probably going to hop off. It's been a fun stream. Just being consistent and being here every day is uh a blessing to me. And just waiting for the market to kind of go sideways, cool off, stay bullish, and then get the move. That's what it's all about. We just had a ton of money [music] come into the market. top shill is themselves. It's good. Your top shell should be yourself. All right, guys. Stay underground. Stay crypto. I will see

you in the next [music] episode, which is tomorrow, 8:30 p.m. New York time. We're going to raise that crypto IQ once again. I thought this series of the week has been highly educational and very useful [music] on a day-to-day basis out here in this crypto land. Hope everybody has a good night. Think long term. See you tomorrow. Underground crypto out.