Nicholas

Ep 186: MALWARE. 1) Quantum Computing & Bitcoin for Idiots 2) The Rise of Ripple & XRP 3) Natasha's Memecoin Trading Update

Nicholas

In this episode of Malware, hosts Natasha and Deana cover Quantum Computing and it's potential impact on crypto, Ripple & XRP's rise and check in on Natasha's memecoin habit. 00:00 Introduction to Malware Podcast 01:10 Reflecting on the Past Year 02:27 Upcoming Topics: Quantum Computing, Ripple, and Memecoins 03:46 Quantum Computing Basics & Google's Willow Announcement 10:13 Quantum Computing's Impact on Crypto 15:18 Ripple's Legal Battle and XRP Market Surge 21:52 Memecoin Trading Check-in Subscribe to the Boys Club newsletter here ! Boys Club is proudly supported by Kraken. Kraken is a crypto exchange for everyone.

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Published Dec 13, 2024
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0:00-1:35

[00:00] Malware is a non-technical look at the tech news of the week. This is a podcast where we learn together about everything from crypto to AI to whatever comes next in tech. I'm Natasha Hoskins. I'm Dina Burke. And this is Boys Club. Wait, is it just Boys Club? It's just Boys Club. [00:18] The boys club podcast. No, no. [00:20] Just boy stuff. [00:22] - Hi. - Hey. - How's it going? - Good. - Here we are. - Here we are, this is [00:29] malware [00:30] What's malware, Natasha? Malware is a weekly podcast where you and I... [00:36] Talk about what's happening in... [00:38] The news, the tech news. [00:40] tech and crypto news of the week and explain it to each other it's like an explain it like i'm five kind of podcast [00:46] Yeah. We're both learning and trying... [00:50] to our best to explain it to each other and and in explaining it [00:54] That's often how you learn the best. [00:57] Exactly. So we're learning all together here about certain things. Some of it's serious. [01:03] Some of it's deeply unserious. And that's the way of the world, honestly. So that's what we're doing here. We had a great week together today. [01:12] We were together in New York. It was so nice. It was really nice. We did some end of year... [01:18] I guess, end of year, retro, beginning of year. [01:22] - Thinking, planning. - Planning. - Yeah. - It's very, [01:26] special and [01:28] shocking that we get to decide what this business looks like yeah i'm like oh this is um

1:36-3:30

[01:36] up to this [01:37] Group of people in this room here. [01:41] There's really no one else that's going to tell us what to do here. No, no, there sure isn't. Yeah. At some point, we're going to have to re-answer the question, what is Voice Club? [01:48] That's going to be, yeah, that's in the works, actually. It's in the works. It's not now, but it's going to be soon. We're going to have to jump into that. And the lore of that, for folks who don't know, is that... [02:00] When we first started this podcast. [02:02] Thank you. [02:03] two and a half years ago that's insane first of all second of all every episode would ask each other what's boys club because uh we didn't have any fucking idea and turns out [02:17] But I feel genuinely blessed to do that and have the privilege to do that and wouldn't want to do anything else. So that's what we're doing. Let's get into some news. [02:28] Yeah, just for folks who like to know what's coming up, we're going to be talking about [02:33] quantum computing. [02:35] what it is, what it has to do with Bitcoin and crypto. We're going to be talking about Ripple, which has been in the news a lot lately, and some stuff there. And then Natasha, our meme coin correspondent. [02:47] I know you hate this, but unfortunately it's the role that you [02:50] perhaps were born to play did one did one week of me coin trading [02:55] I cannot shake the identity. You can't. No, it's sticky. So we're going to do a little meme coin chat at the end. And I hope you like it. [03:04] Hey Natasha, so a question we get asked a lot is, what do you look for in a crypto platform? So let's talk about it. Well, Dina, I look for a secure, no fuss platform that I can dive into right away. That's why I love today's sponsor, Kraken. If you're waiting for the right time to get into crypto, Kraken makes it super easy and intuitive to get started. Plus, if you get stuck, they have an award-winning client support team that's available 24-7, along with a bunch of educational guides, articles, and videos to help you along the way.

3:34-5:09

[03:34] go to kraken.com backslash boys club not investment advice crypto trading involves risk of loss and is offered to us customers through payward interactive inc [03:46] Let's get into quantum computing. I'm excited to learn. I've heard the TLDR. [03:51] Yeah. [03:52] And I am curious to learn more from you. And I saw a really great tweet from Kate, [04:00] on our team [04:01] where it was the new meme format of [04:06] shillian i never know how to say his name murphy killian murphy in the movie where he's i don't know dead it's like the weirdest meme format a zombie movie zombie okay zombie and uh kate said me learning me trying to learn about quantum computing today i i really respect um [04:27] That there's a baked into the boys club identity is like a curiosity about the world, which means that we show up to our daily stand up called dumb bitch hour and say, oh, we saw this thing that happened. [04:40] Let's make a meme about it. And part of the work is to... [04:44] Make a good meme. You have to know what it's about. Yes, you have to be familiar. [04:49] And so she did that and she made two very wonderful memes on it. And just shout out to Kate. Kate. [04:56] Polly. Always. Previous to today or yesterday, I knew nothing about quantum computing, only that it kind of existed. And now I'm an expert. Exactly. And by expert, I mean, I have...

5:09-6:43

[05:09] the loosest [05:11] grip on what I think it is. [05:14] and someone could listen to this and say, "You've got it all wrong." [05:18] But... [05:18] We... [05:20] Don't care. Don't care. We don't care. [05:24] Okay, so on Monday, Google had this big flashy announcement where they announced a thing called Willow, which is a quantum computing chip. [05:33] And... [05:35] It... [05:35] was a huge announcement because basically within the announcement, they were talking about how Willow, [05:42] performed a computation [05:45] in under five minutes what it would take today's fastest supercomputer [05:49] 10 septillion years to do. 10 septillion is [05:54] I don't even know that number. I don't know her. No, you don't know her. I didn't know her either. A 10 with 24 zeros after it. [06:01] which is longer than the age of the universe. [06:03] - Oh my gosh, okay. [06:06] That was a fantastical thing to play into the story and really captured everyone's attention because it's like totally fair. [06:16] And... [06:17] So yeah, so just to say that again, today's computers, it would take them that long to do something that Willow did in five minutes. And when you say today's computers... [06:24] Are you talking about like my MacBook Air here? I don't think so. I do not think so. I think like even better than your MacBook. More advanced. Okay. [06:32] Yeah, like a supercomputer. I don't know where they have those and what they're doing. This feels so advanced to me because I go into the Apple store and they're telling me like the different level of computing and I'm like...

6:44-8:15

[06:44] couldn't care less totally totally totally totally um [06:52] Okay, so this is like an MIT level, like something. Research labs. We're in the research lab totally fully. And that is really also like where quantum computing is at, where it's like they did, they had this big breakthrough in this big announcement, but they're not shipping any product against it. Like it's, we're nowhere near that yet. Okay. But it was more just like there was this big research breakthrough. This is possibly what's to come. This is what the path could look like. Okay. [07:15] One interesting thing in how quantum computing works [07:18] which might be useful for you to have just to hang your hat on every once in a while when people say it. Great. So our computers work with, they use bits to process information. So it's a one or a zero. [07:31] type of thing. Okay. [07:32] Quantum computers use something called a qubit. [07:36] quantum bits, qubits. [07:38] - Which, [07:39] just stay with me for a second. They can be a zero. [07:42] or one. [07:43] but they also could be a zero one at the same time. [07:46] Okay. [07:47] So they're queer. [07:48] their poly. That idea of being... [07:56] all both things both states at the same time is something called superposition you might hear that talked about a lot and then there's this idea called [08:03] quantum entanglement [08:05] which is that [08:06] these [08:07] Qubits, I think. Qubits. Okay. Okay. [08:09] They are in these various states and basically like all of them are, are linked together.

8:15-9:49

[08:15] And no matter how far apart they are, like when they can sense when another one changes state and like they can they know and they can change state too. So essentially like there's a dynamism. [08:27] Sure. Yeah. To quantum computing that doesn't exist in... [08:31] Yeah. Trad computers. Yeah, yeah, yeah. [08:33] Kind of how I've been thinking about it is, and this is wrong, but it's just how I've been thinking about it, is like there's many parallel things that are happening all at one time. Okay. [08:43] It's like they're able to run it all at once. [08:46] And then like figure out the best path or figure out the solution fastest because like they run an infinite number of different scenarios or whatever. Okay. [08:55] Have you ever seen the movie Sliding Doors? [08:57] No. [08:58] Gwyneth Feltro. [09:00] Oh, I love her. Yeah, it's kind of a throwback, but it's like a multiverse. It's not a multiverse, but she had this one life that she lived, but had she made a different decision, it would look a different way. It's kind of like that. Okay. Similar to – [09:16] incredible movie the butterfly effect no it actually doesn't make sense um tell me more what's the butterfly effect it's a really bad movie okay [09:26] What's his name? He, um... [09:29] Ashton Kutcher. Okay. [09:33] It's like in the height of when he was like, just everybody's heart throb at the moment. And it was this idea of like the butterfly effect. Like if a... [09:42] if you [09:43] made one decision in this world that would have another decision in another world so maybe it does

9:49-11:20

[09:49] apply, but it's really a terrible movie. So, but... [09:53] There it is. If it's useful, it's useful. I'm not going to judge how we, how we do what we do, but it's anything, whatever works. Um, [10:01] So, okay, so that's quantum computing roughly at most basic of levels. And so the news happened on Monday. Google made this week announcement. [10:14] And then... [10:15] Crypto starts dumping. Bitcoin starts dumping. [10:18] Okay. [10:18] And there's like the sell off event that happens where like everyone's jumping and then everyone starts all the think boys start posting their threads about how quantum computing is going to kill. [10:26] Bitcoin. [10:28] - Man, all the bad things are happening. Mark's down. [10:31] The boys are typing all at once. Make it all stop. Big stop. So I was like, okay, what's going on here? [10:39] And it seems like, first of all, it's fine. We're fine. [10:43] it's no fud here there's no fud here and i will explain why exactly in a bit but like the tldr is that everything's gonna be fine but great it was a fun hysteria that happened for a day and a [10:56] bunch of people sold or got liquidated or whatever basically there's a couple ways that that [11:01] quantum computing as I understand it could impact crypto. The first one is [11:04] which I didn't know actually, is that your private keys and your public keys [11:09] are actually kind of linked. [11:11] Okay. And... [11:13] a quantum computer could decrypt [11:17] whatever that link is between the two. [11:19] So,

11:20-12:54

[11:20] It could be that [11:22] your private keys could be hacked really easily and then individual wallets start to get hacked. Okay. And like the first one to go would be Satoshi's wallet, which has like whatever, however many Bitcoin in it. And then like obviously just undermine the trust. Totally. It would destabilize everything. The second thing that could happen is... [11:40] So... [11:41] what secures [11:43] the Bitcoin network and like keeps it going is the idea of mining and all these [11:48] computers and networks around the world competing to like win [11:52] and secure each [11:53] - Bitcoin. - Hash. [11:55] and [11:56] if quantum computing comes to pass, then [11:59] presumably a quantum computer or a group of quantum computers would just start winning immediately. I see. All of the mining rewards. And then also... [12:09] they would then control Bitcoin. There's something called a 51% attack, which is if you own 51% of the network, you can basically just decide what to do with it. [12:18] That would be very bad and destroy everything. So that's the fear. There's a couple of ways that people are thinking about this. The first one is that [12:25] First of all, it's extremely early. We're like so, so early. [12:29] decades away from anything happening with quantum computing outside of a research lab. And also like it needs to be many, many multiples more powerful [12:40] to get to this date and we're just like we're not there yet so the first thing is like just time and [12:46] It's just not happening right now. [12:48] And it's like, even if everything went perfectly, it wouldn't happen for many decades. And that's kind of the first thing.

12:54-14:29

[12:54] The second thing is there is this idea of quantum proof cryptography. I don't know how much [12:59] of that is real or how much of that is in research labs or like how much where people are with quantum cryptography. But the idea would be that [13:07] you would basically like hard fork into [13:11] - Same. [13:11] quantum [13:12] Proof secure secure. Yeah version of Bitcoin and any other crypto that [13:18] needs it. What I didn't understand was like, [13:21] Bitcoin seems like it's not very updatable. Like there's a lot of stuff that gets thrown around like with Solana and Ethereum and all these other blockchains where they're like, oh, they're. [13:31] kind of fake whatever because you can update them but I looked into it and basically actually Satoshi on a message board in 2010 wrote about [13:40] this possibility [13:41] And they were like, you would basically just fork into a chain that everyone agreed on would be secure. So it's been thought of, Satoshi thought of it. [13:50] And there's like this [13:51] process presumably for what would happen. Okay. So it kind of seems like this happened and it was a good excuse for lots of people to take some profit. I think so. Okay. I think so. Yeah. Or to, to, for people to sell and for them to buy in. Yeah. At a lower price. Okay. [14:04] Okay. Very interesting. Really interesting. Yeah. I learned a lot. Really quick. So who had the big breakthrough around the computing? Google. Google. Okay. [14:14] Yeah. Makes sense. [14:17] I was hoping it would be like MIT, like a non-commercial entity. Yeah. No problem. No, no worries. I think another big part of this is in the event of a quantum computing breakthrough that was starting to...

14:29-16:06

[14:29] happen and [14:31] impact our lives bank accounts social security everything [14:36] Starts to be fair game for hacking things that are far less secure than Bitcoin. Yeah. Like if that is the world we're living in, we're full cyber warfare. Like it's not just Bitcoin. It's not just Bitcoin. And that the sort of counter to that is, well, the Bank of America software can be upgraded a lot easier than Bitcoin, which is also true. So there's like, you know, some counter to that. But I do think that incentives are aligned in the Bitcoin network enough that like they're going to. [15:04] Figure it out. [15:05] Yeah. [15:06] I believe. [15:07] Great stuff. [15:08] learned a lot. Thank you very much for your service and your time. [15:11] *music* [15:14] Should we talk about Ripple? - Let's do it. - Okay, so I'm just gonna give a quick history. [15:19] On Ripple. [15:20] Ripple started in 2012. They've been around a long time. And they launched as a alternative ledger to Bitcoin. [15:27] They also launched XRP, which is the token... [15:31] of Ripple. [15:32] So that's some level setting. [15:34] 2020, they're sued by the SEC. [15:37] the company Ripple, [15:38] as well as two executives. [15:40] For violating investor protection laws, SEC alleges that Ripple and the [15:46] two co-founders raised over a billion dollars through an unregistered security offering. So they're basically saying that the way in which the Ripple... [15:54] XRP, the Ripple token, [15:56] created, distributed, whatever, was a security. And they were sued. They then are in legal battles for years with the SEC. And then in 2023, they win.

16:06-17:47

[16:06] case and the court finds that the XRP token [16:09] is in fact not a security. Mm-hmm. [16:12] So that happens in 2023. I remember this all happening. It was a big win. Everybody was talking about it. [16:17] the market was in the shitter. Like it was peak, basically bear market. Bad. Peak bad. Peak bad. I think there was a little pump on the token, but it... [16:27] It was more like... [16:28] a win for crypto as a whole and for the reputation of Ripple and the founders. And it was [16:35] An optics win. [16:36] More than anything. I think there's still some like residual... [16:41] SEC stuff with them. But my understanding is that the main... [16:46] charges were they won, essentially. [16:49] So that all happens. [16:51] Then... [16:52] We all forget about her, in my opinion. And then out of like what seems like nowhere to me and all my friends, the XRP token just [17:03] absolutely starts ripping. Yeah. And over the course of 30 days has a 415% [17:10] Explosion. [17:11] So big lots of movement on this token. [17:15] And the highest levels it's seen in six years. And one of the big pieces of news is that the market cap becomes the third largest token market cap. [17:25] surpassing solana and usdt so that also becomes part of the story like what the is going on this token is absolutely ripping it's past all of these other token market caps which should be shouldn't it chant why is that happening type thing so why exactly it had such a massive upswing like

17:48-19:22

[17:48] a few weeks ago or earlier or not even a few weeks ago, but like earlier this month is a little unclear to me exactly. [17:55] There are now more announcements that have come out around their plans that make sense for why the token is sustaining the price that it is. [18:04] sort of surge to the main one being that ripple got final approval from the New York department of financial services, um, [18:11] to... [18:12] launch their US dollar stablecoin. [18:14] So Ripple is going to have a stablecoin. [18:17] There's a lot of energy around that. [18:18] and because of that there was additional movement of the token and there's also a lot of stable coins i'm like we got [18:27] Totally. So some of the reasons why people think that this token is going to continue to increase in value and sustain the... [18:36] massive surge that it has is a few reasons. One is that the ripple ledger is designed for a, [18:45] transactions. It's designed for financial transactions, fast and cheap financial transactions that are friendly to institutions. So as more institutional money comes into crypto, [18:58] and they're looking at [19:00] where to build. [19:01] It seems that Ripple is a place that people will do that. [19:05] They say that about Solana too. They say that about every coin basically that is an Ethereum of Bitcoin. Yeah. I mean, that's a common... Totally. Totally. [19:12] Everybody. And also when they say like it's designed for transactions, like all of these are designed for transactions. Right. I think winning this legal the legal battle with SEC was huge and kind of puts them in like a safe.

19:23-20:57

[19:23] space that some of these other tokens and other ledgers and other blockchains won't [19:28] have the foot to stand on where they've already been charged by the SEC in one. And so they're sort of past a thing that might happen to these other blockchains. And that's another big reason. So the interesting downstream side effects of this is the XRP army. So all these people that bought a ton of this token or had a ton of this token and have been holding for years and then all of a sudden now have like huge bags of... [19:54] One are stoked and two are like, what are we going to do with all of this? And so a whole meme coin market is, [20:03] on XRP has started to pop up. Okay. Okay. [20:06] And it's sort of like a funny downstream consequence of like these very serious things that have happened with this blockchain. The results are a very unserious situation. As we do. As we love to do. So that's sort of like just a funny thing. All of these new meme coins that are XRP tokens are launching and the XRP army is excited about it. So that's what's going on. Ripple is launching a stable coin. Their token has ripped over the last few weeks. [20:36] on XRP are a thing, apparently. [20:39] I have not dabbled. [20:41] Man, I'm such a hater and I feel like I need to do some [20:44] interior work soul searching to figure out why [20:49] Why I'm such a hater. You wouldn't be a hater if you were holding the token. I would. Sure as shit would not be a hater if I was holding the token. But I am not...

20:58-22:32

[20:58] You should buy some of the token. [20:59] Just buy some of the token and you're... [21:02] All of a sudden, you'll be incentive-aligned with this community. Snap right into alignment. XRP army right here amongst us. Yeah, I don't know. Yes, that definitely would change things. But every time I see an XRP story, I'm like, what? [21:15] I don't know why Well I think there was a lot of people who were like This was just generally A very surprising thing to have happened [21:25] I'll just say that. I think a lot of people on the timeline, and maybe that's because we're so steeped in ethically. [21:31] culture and community. But like everyone on my timeline was like, what? I sold this... [21:39] years ago and can't believe that this is what's happening so [21:44] I do think it was a surprising turn of events. Thank you. Anytime. [21:49] Thank you. [21:50] It's time for a more open, inclusive, and transparent financial system. A system that serves nearly everyone, everywhere, all the time. That's why we love today's sponsor, Kraken. Kraken is a crypto platform that provides a super simple on-ramp to the world of crypto with a 24-7 support team. Crypto transcends physical and imaginary borders. No matter where you are, you can send funds easily and quickly to almost any part of the world. Plus, forget about waiting times and waiting lines. You can send, receive, and trade crypto anywhere near instantly. [22:20] cracking.com backslash boys club not investment advice crypto trading involves risk of loss and is offered to us customers through payward interactive inc no third-party transfers available

22:32-24:07

[22:32] - The meme coin section of our chat here. - I can't wait. - So, we're just gonna briefly touch on two meme coins. - Well, first, before we do that, what's your meme coin trading? [22:43] week been like you've been out of the trenches i've been out of the trenches i mean the the reality is [22:48] we were in offsite planning all week and like it's impossible to operate truly operate a business and be in the trenches impossible [22:57] And all these founders who... [23:00] Have. [23:01] legitimate companies that they're [23:03] Thank you. [23:03] quote unquote building and then like [23:06] Also, [23:07] crushing it, trading meme coins, they're not working. I need everybody to know that. Okay. Venture backed founders. Venture backed founders. Yeah. Yeah. You're not working if you're in the trenches. It's a different thing. [23:19] And that's just because you have to hang out on Telegram all day or like... Yeah, you have to be like on the internet, in the chat, watching the charts. Like, I don't know. Maybe that's just because I... [23:31] embedded it or new to it or whatever. But you also have to have strategies about your public wallets versus your private wallets. I think a lot of these people are launching their own tokens and distributing those tokens through these chats. It's not happening... [23:45] By accident. Yeah. I mean, it's still gambling, but you have to spend a lot of time doing it. So I don't know. I'm feeling like a little bit of like, oh, wow. [23:54] This week I had... [23:56] some serious work to do and it took me out of the other work that i'm doing so yeah so i haven't been doing a lot of trading any trading i've done this week i i may be up

24:07-25:47

[24:07] I'm probably even. I lost some money on some stuff. I made a little bit money on one of the coins we're going to talk about. But I also started to feel... [24:18] Broke. [24:19] like in my dollar bill. [24:22] The dollar bill broke. Bank account. Tough. [24:25] and so i was like i don't feel like gambling i have a low tolerance for losing money and so pulled uh like some of my positions to more stable situations and that's where i've been also like it's really only fun to do with friends and so i got out of some of the chats not like left but just like wasn't in it and then i was like okay i don't really know the landscape so this week's been slow for me i plan to get back in the trenches soon i have a lot of people asking me what to do [24:55] I'm just like I don't know yeah so I'm trying to navigate that because I want everybody to win for sure everyone looks sees you and they're they're like you've spent your 10,000 hours doing this I haven't though I have not I have not um so anyway yeah I'm looking at my portfolio right now hold on let's see where we're at with things [25:20] Also, like, the market, because of what you were talking about, like, the quantum computing stuff and people – and also Bitcoin hitting 100K, people taking profits. Like, all of the market was kind of, like, down. And it starts to feel scarier, just to be really honest with you, to do stuff. Yeah. You're – [25:35] Trading then from a place of fear, which we know we don't do. We know it's not the way to do it. We don't do. I did buy a Skims jacket with some of my profits, and that feels really good. Oh, that's huge. Huge. I got like...

25:47-27:23

[25:47] I think, socially engineered into buying a... [25:50] Solana meme coin. [25:51] that [25:52] It just keeps going down. [25:54] which one name names um stonk stonks [26:00] Someone was like, it's going to be the next thing. Of course. [26:05] I'm like, all right, let's jump on board. I mean, I only put like 50 bucks into it, but I'm looking at it now. And I'm like, man. That's respectable. Yeah. No, I didn't. I didn't go all in. Lots of talks. [26:17] I think there are... [26:19] Really thinking about when people are like, what's your meme coin strategy? [26:24] This is the most honest thing I can say. [26:26] Mm-hmm. [26:27] I have not had basically any luck with just like random meme coins that people are like trading in... [26:35] these [26:36] alpha chats or on friends. [26:38] My luck has come from either working on projects, meme coin projects that are [26:44] I am friendly with the team and they're like working on a project of some kind or I [26:51] being so online that I'm like this, this meme is, [26:56] is popping off, there will be a meme coin. And finding the meme coin and buying into it and then selling very early. I'm not someone who's putting... [27:04] hundreds of dollars or thousands of dollars into these [27:08] coins and holding to the very last moment. Right. I'm like, okay, I've made some money. I'm going to take it out. [27:14] And I'm sure I've squandered many more dollars than I could have had. But that's been my strategy. So I would say those are the two.

27:23-29:04

[27:23] It's insider trading. [27:25] or it's trendspotting. - It's trendspotting or insider trading. And then Maya, [27:32] Vakai, her brother. I love referring, continually referring to him as her brother because so often it's like, [27:39] This person's wife. And now just like my brother. His name is Ravi. I have confirmed. His name is Ravi Bakai. He is the founder of hype. He did a webinar 101 meme coin webinar. I did not. Hypes an app. [27:52] Hype is an app for meme coin trading. Okay. My experience of hype is that it's for genuine shitters, like really low market cap. You're in, you're out. That's what people are doing there. Mm-hmm. [28:01] I am in a hype girls. [28:04] chat where we it's a hilarious group chat and we're talking about different meme coins that are popping off and [28:13] there was an image that was posted from [28:16] the webinar that Ravi did that I think really does a really great job of breaking down like two types of meme coins that exist in the world. And basically saying that there are and this tracks with insider trading versus transpotting. [28:28] That there are basically meme coins that will sustain attention and those are cults. So that's a blonde or brunette. That's like these types of meme coins that, yes, will have like a crazy spike, but then come down and then sustain because there's a cult or a community or a project or excitement around it that has legitimate strategy behind what it's trying to do. [28:50] Okay. [28:51] And then there are meme coins that are pure trends and they're not going to be sustained. They're trend hijacking. They're something that has taken off on TikTok or the news and that goes then to a coin and then that.

29:04-30:36

[29:04] pops off and will... [29:06] dump. And his advice on this slide was essentially know what type of coin you're getting into. And when you are putting your money in, you're making a bet and you're making a assessment on whether you think that this thing will have some sustained value or this thing is going to pump and then totally dump and you're keeping an eye on it to know when to get out. And I thought that was really helpful because I have seen the two different... That has been my experience between these different types of meme coins. One last thing that I'll end on that I thought was so funny in this group chat [29:35] And part of why I think I'm having a lot of fun with meme coins is because [29:40] I'm so online and I love pop culture and, [29:42] So there's in this chat, [29:44] someone posts a [29:46] Twitter link that says Megan Fox and Machine Gun Kelly have split just months before the arrival of their baby. And it's a picture of the two of them looking ridiculous. [29:55] because they're ridiculous people. And then some, then the person who sent it said, who was addressing this? And I loved it. I loved it because I was like, that's actually what meme coins are. Like you could take this and decide that you were going to, [30:09] name their baby and launch a meme coin and like go market it to shit and have all these people buy into it as the trend of the moment and like trend hijack and create an economy around a really silly ridiculous moment that's happening in pop culture and um who's addressing this is just like such a hilarious way to position such a funny way to talk about it so funny so funny so that's my meme coin update wow thank you so much it's like holding your hands to a fire

30:39-30:44

[30:39] um okay thanks for listening and that's all that's it [30:44] Thanks.

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