146. The Current Chaos In Crypto, How To Take Advantage And Not F*#k It Up

Buy coin on Solana go all in on this pre sale bridge to blast get this multiplier something something far caster frames you have to get these on base Avax foundation buying meme coins buy those say in the new sol eth ETF and layer twos faster cheaper read tweet must buy whiff again next shib doge don't get mogged ordinals eth Emma Pendle and if you don't make generational wealth right now, within the next few days your life will be over and you'll die alone and homeless. Cheers. Good luck.

Jeez that bloody hell that is honestly the day that you get wrecked. Mid curving is actually what you want to do. Do ordinary things exceptionally well. Making good decisions and having good habits over time is exceptionally hard to do. Keep your habits tight mid curve it, be exceptional at it and you will be one of the very few people who wins over time.

Welcome back to another episode of the Ben and Bergs Podcast. I'm Ben, your favorite high school dropout and founder of Collective Shift. Alongside me as Bergs, your favorite MBA and COO of Collective Shift. Join us as we bring you world class crypto research and strategies to help you dominate this crypto bull market as well as behind the scenes view of us scaling a fully remote subscription research business in Australia. If you like the podcast, we'd love for you to subscribe. We come to you each every week, twice a week, free of ads, free of links, free of nonsense and giving you what you need to know. And bergs this week it is chaos in the crypto markets. There's FOMO everywhere. Meme coins are blowing up. People are crossing chains. Solana is going nuts. In fact, one of the newer meme coins, Slurf on Solana, recently did higher trading volume than all of ethereum in a 24 hour period. This Slurf token issued on Monday morning last week traded more than $2.7 billion in 24 hours. Which is absolutely insane. The data that we could see on the on chain metrics showed us There was over 800,000 trades from 130,000 individual traders on the slurf USD pair and more than 1.7 billion in trades were routed through the Solana based exchange Radium. Oh my goodness mate, it is bananas right now. Even people that we've known in crypto for a long term burges are just barreling into these things right now.

Oh bro. So we had the meetups in Melbourne last week. I went over there, talked to a couple of the Lads we know are complete degenerates. And the stuff they are doing and what they are getting into, they're like, I can't believe I'm at this event. I should be trading right now. There's so much money to be made and isn't it just crazy? Like there's so much fomo. Even people in our business that understand Solana, they've been in it for like years. Across all the innovations, they're like, oh, I don't want to mid curve it, I need to be doing more. And mate, some of the coins, I've sent these to all my mates. I'm going to call out some of these coins. They're absolutely crazy. I will have to censor some of this something. These are the coin names. Something something did 9 11, they've got a N word coin, a ball sack coin and my personal favorite, Indians did 7 11.

And I love that I am Indian, it's fine. But really, these people just making crazy meme coins, they make people laugh and they buy and they're worth hundreds of millions, if not billions of dollars and people are making serious money. You're seeing the posts on Twitter now saying, hey, I put five grand in and now I have $2 million. This is what you need to do. Here are my next 10 meme coins, mate.

This tweet just, just summed it up for me. OSF underscore wrecked on Twitter. Follow him. There is too much to look at right now. Buy this shit coin on Solana. Go all in on this pre sale bridge to blast. Get this multiplier something something far caster frames. You have to get these on base and Avax foundation buying meme coins. Buy those say in the new sol eth ETF and layer twos faster, cheaper read tweet, must buy whiff again next shib doge. Don't get mogged ordinals Eth Emma Pendle. And if you don't make generational wealth right now, within the next few days your life will be over and you'll die alone and homeless.

Cheers.

Good luck.

Jeez, there. Bloody hell. And there are so many of these posts and they're designed to make you a customer. And we were talking just before the pod and the general kind of way things work is you buy your BTC and eth, you buy some altcoins and yeah, if you've got money left over, you become a degenerate. People start to think and just from what we've spoken with a lot of members in the public at those events they think I can circumvent the BTC and ETH stack, I can circumvent the altcoins and I can go straight to degeneracy, build some size and then I'll buy my BTC and eth. And that is honestly the way that you get wrecked.

This is what most people done at Sandberg. It's like winning the lottery, right? It's why 90% of people that win the lottery end up homeless. It's because if, even if you get that money, knowing what to do with it next is super difficult. And if you've been in crypto not that long, these markets move so rapidly. We're not saying that meme coins shouldn't belong in your portfolio. I mean if you want to have a punt, go for it. But ultimately I think what we're seeing Bergs is like big money being thrown at this big speculation. People trying to make life changing amounts of money overnight usually doesn't end too well if you're going to do it. And if you're new, don't put a lot of your portfolio into it like yes, have a crack at it but you know, only keep a limited amount of your portfolio in this space. Ultimately you want to have a good position of BTC neath small coins. But don't go chasing the FOMO on the hype because right now we are in the thick of mania and euphoria. And historically when you're in that point of time, it's usually the absolute worst time to get involved. Because when it's peak euphoria and everyone's talking about it, that's when the big money starts to roll away.

That's exactly right. And to give an analogy, like in your personal financial life, if you're going to save an emergency emergency fund which might be three months or six months worth of living expenses, it's like saying I don't want to do that, I've got that money, I want to take it to the casino. And it's like no, you save that money and then your future money a very, very small percent. If you want to go to the casino, you go with your friends, you go to the casino, you don't take the big stack and gamble it. You honestly, the odds are not in your favor for you to win. Go for that security first and you'll be very surprised what BTC and 8 actually do. And Ben, I've learned this lesson again and again and I've said this on the pod before where 2017, I would have put at least 208th in into ICOs. At the time, ETH was maybe 80 bucks, 100 bucks. We're talking about, you know, 16 to 20 grand AUD over time, like over six months, eight months, whatever it may be, is my first kind of crypto investing experience. And that taught me, hey, I should have kept that ETH because if I just kept that it'd be over half a million dollars done. Then I got seduced by NFTs, L2s, a whole bunch of stuff and I got wrecked again. Like I had. I built up my BTC and E stack, I learned my lesson. I had a few alts left over but I still put a lot of money in and I would've been better putting into BTC and eth. This is now my third cycle and I'm like, I actively choose to not participate in what is going on and chasing the new shiny thing. And for me that gives me peace of mind, it gives me back my time because my God, how much time would I be spending with the degeneracy in Solana looking at like deck screeners and reading contracts and finding the next thing to get a little bit of money or perhaps get wrecked. And it just keeps my peace of mind, keeps my focus. And I know this is the hardest thing to do, but keeping those really high quality protocol level coins, I'll be fine.

Long term it's really where you want to spend your time and I think like the full time DJs that we know and you know, we've got analysts in the team but you know, we've got a couple of matesbergs that you know, we're full time into this. If you've got the time and you're full time crypto, go for it. If you know what you're doing, go for it. But what most people ended up doing and I speak to them because you know, a lot of them end up becoming members because they come to us and go, shit, I've spent so much time, so much money on these like degenerate sort of high risk coins that you know, they ultimately are just distracted from their main portfolio. And what ends up happening is they get distracted from the main thing that's really going to create them life changing amounts of money. They just got to be more patient. And I think at the end of the day it's a bit, it's a bit like gambling, right? It's, yeah, it's, it's, it's speculation, it's dopamine, it's trying to find the next thing it's it's the unknown rewards, it's, it's backing things and, and you know, it can be fun, but I think you've just got to do it in a way where you understand what it is, you understand what it is. And you know, we even speak to one of our members recently over lunchburgs and he was talking about like he had half his wealth in like dog with hat. And it wasn't until he went for a run and got some clear air him out of his office that he was like halfway on his run, starts to think, he's like, hold up a minute, what the fuck am I doing? I've got half my net worth in a meme coin of a dog with a hat. And he literally turns around mid run and fucking runs back to the computer to sell his positions. This is the reality of the situation. And I just want to stress that in previous cycles, guys, at the peak of euphoria and we may not be there yet, we may still have a little bit to go because things are crazy. But we're not really seeing retail investors pile in right now like this, this. And I tweeted this last night, folks, what I'm seeing, this is not mom and dad money. I said the level of degen right now is crazy. Never seen anything like it. And this is not new retail. This is from the big boys with big wallets. Unbelievable time.

Yeah. We haven't seen this before, so people might not know, but I tweeted about this. What this is, is Chads and Stacy's name making more money. So how good? How good? So back in the day, if you got in very early to a lot of coins, you've got a lot of money and that's on chain and you will not go into fear. You've basically exited the the tax system. You're in another system. You're not going to adopt yourself. So what do you do? You need the next shiny thing. You need the opportunity to make more money. You want to have fun. On chain and onchain just means moving your coins around, buying other things, increasing your stack and having it on a cryptocurrency protocol. So what do they do? They go for the next thing. They go to the main coins. They put in 108, 208 because there's nothing to them, because they've got thousands and thousands of eighth. And this is what Chads and Stacy's do. And don't look at this with rosy glasses like you're going to get rich. You get wrecked more than you Win like, people are seduced by complexity and they feel that they have to be active in order to make money in investing. And you don't. You can be very passive. You can dollar cost average, you can compound over time. And you think that putting in effort and skill will be directly correlated to your profit and your rewards. It is not. Divorce those two things in your thinking. And I think back to an organizational behavior class that I had, and these people, what they did was they made packet cake, right? And they made the packet cake so good, all the people had to do was. And this was in like the 60s or 70s, take the packet cake home, add water, bake the cake, and you'd have a lovely tasting cake that your friends would come over, you have a cup of tea, and you're able to eat this cake. Brilliant. So easy to do. What they found was people felt like they didn't have ownership over the cake and they didn't actually make it themselves because they didn't put enough effort in. So what did they do? They. They took out the powdered eggs, they took out the powdered milk, and they said, what you have to do is put in the cake mix, crack a few eggs, whiz it up, put in the milk, put in the water, and then bake it. And people felt like they put the effort in, the reward was theirs. They had ownership over the cake, like they made it themselves.

And I just think this is a lot. There's so many parallels to investing where I need to be active, I need to understand the market, I need to do technical analysis, I need to get in and out, I need to trade, I need this complexity. So I feel like I've owned it and I've earned that money. Nothing could be further from the truth.

Yeah, and. And you make a good point there. Burgs, like, ultimately team, like Meme Coins are driven by speculation, hype. Fomo. Right. That's what drives all of these coins. And that's why we're seeing hundreds, if not thousands of them pop up trying to, like, capture the attention. As these get more and more saturated, the money's split across these and they end up becoming more volatile. And now, at the end of the day, what drives prices, it's buyers and sellers. And once narrative starts to switch and you get more sellers than buyers, it's more or less who's going to be left holding the bag. Now with these coins as well, it's basically like a leverage position. So as we go into these pullbacks, like we had recently when Ethereum dipped I think we dipped like 22, 25%. Like these coins are going to dip even further because they're basically leverage positions. So you just got to be aware that like, even if we look at something like, if we look at something like Dogecoin. Right. You know, more recently we had, when we had that dip over the last month or so, we Dogecoin went from about 18 cents to, yeah, about 12 cents. So you've probably got. What's that bergs like a 40% correction.

18 cents to 12 or 20 cents to 12 cents. Where Ethereum dipped 20, 22, 25%. So basically what you're seeing is these are leveraged positions kind of, it's kind of a beta move on top. We go higher with eth and higher on altcoins, it's gonna go higher, but also on the downside, they're gonna, they're gonna go down even further. They sell harder. Something to be aware of.

Absolutely. By the time you hear about an altcoin, unless you're using, you know, screeners reading the blockchain, looking at contracts, got significant amount of bots set up so it's near instantaneous. You are the exit liquidity. You'll see the threads on Twitter. 5,000 to 2 million. Here are my next 10 coins. What that person is saying is, I've got leverage positions in these coins. I want you to buy them so you can be my exit liquidity and it's okay to just live your life and invest simply. And Ben, you told me a quote just before the pod. Every decision you make when you spend your money to not buy bitcoin and buy something else means you are shorting bitcoin.

Bro.

Man, I was at the coffee store this morning. I was like, oh my God, I'm shorting bitcoin by buying this coffee.

Like that, that's a, that's a really like, you know, the extreme way to put it. But ultimately in my strategy, like if I'm going to buy an altcoin, it's, it's to make sure it outperforms bitcoin so I can build more bitcoin up. Like that's at the end of the day, what I'm trying to do. So you just need to make sure that if you're going to speculate on these things that it's outperforming bitcoin to ensure you're, you're sort of stacking that. Now the other thing as well, just to go back to the fundamentals of these tokens, a lot of these tokens their token economics are ridiculously bad. Right. So for example Dogecoin doesn't even have a maximum supply. Like these guys basically are just going to keep printing tokens to infinity.

Right.

So what does that mean is the supply increases the value of the token, you know is it becomes harder and harder to grow because you need higher, more money in the market cap to grow the token. That's the same for a lot of these meme coins. So you do need to be aware of that, that everything is against you outside of narrative when the narrative stops.

Yeah, we've started to see pre sales as well and teams having a pre sale and front running trades. So buying it and then selling it back to the people, it's crazy. And look, one point I really just want to end on is don't worry about mid curving it. Mid curving is actually what you want to do. You want to do ordinary things exceptionally well. So doing an ordery thing, dcaing building your stack, having a few alts, monitoring those alts and making good decisions and having good habits over time is exceptionally hard to do. You don't have to go to the extreme end and just be one end is just like full degenerate with no knowledge of anything, no tools, no sophistication or the other end, all the tools, training, sophistication, years of knowledge and everything, they're both extreme outliers. Making money is quite simple, right? Making money in traditional markets or in crypto markets, keep it very simple, keep your habits tight, do the same thing over and over again, mid curve it, be exceptional at it and you will be one of the very few people who wins over time.

Yeah, I love that, I love that burg. So as you were talking I was sort of looking at a few of these charts, these coins and you know I always laugh. I've been in crypto for so long, you know the crypto bros that come out going, you know my mate says it's going to get to a dollar burks, can I get to a dollar? You know what guys, the token price has absolutely zero, like.

Zero value or you know, transparency on how the, how the, how the price is going. And anyone that like has some sort of price target for these coins, like it's 99% mumbo jumbo. Like especially when you like you're looking at some of these coins, burgers that have infinite supply, they're literally just like pumping circulating supply into the token but yet they think it's going to do like a 5 or 10x from where it is like it literally needs to do like some of these coins, 1520 x market cap to increase 5x on token price. Like the token price does not. Paramount guys. Yeah, at all.

And the old, oh, this could get to a dollar. It's just such rubbish communication. Like, it's just no one knows the community. Like the narrative could stop. The fundamentals could, could break down. There could be a hack, there could be like, who knows? So again, these things are pure speculation. Just be aware of that. Again, we're not saying don't do it. We're just saying that a lot of it is just. And what people tell you about these things is completely complete bs. So just be aware of what it is.

Yeah. Go in with open eyes and be aware of the risks and what people are actually doing and why they're trying to. Why they're posting publicly and trying to get you to perform an action. And man, like, people are really revealing themselves. Even like Robert Kiyosaki, right, Rich dad, poor dad, he did this big post about everything's going to zero, which he always does. He's done for years. That's his thing. But he said Bitcoin is $70,000, gold is. I can't remember what price he put. 4,000, whatever. Silver's $35 under that immediately. Silver is the easiest to get into because it is the cheapest. And I just went, what the fuck? Like, I'm like, that's not how this works. That's unit cost bias. They all cost the same. If you have $10, you choose the one you want to put it into. And of those three, bitcoin is the apex asset. And it was just. You really start to see people don't understand things from first principles. And when you dig a bit deeper and you, you teach yourself those first principles, you see this clear as day and you're like, nope, not for me.

And that's so true, mate, because you look at all these, these, these meme coins. 18 cents 0.00003 cents. Pepe00008 cents. You know, Flocky 0.00. Like, none of these things have a unit bias because they know the retail investors think that the lower the price of a token, the cheaper something is.

And yeah, what's the issuance? What's the unlock? Are you going to unlock 50% next week for this? Like, random group of people that are in the discord or the. Or maintain the contract? Like, there's no due diligence at all, mate. It's just like, I like it made Me laugh by. It's going to a dollar.

The other thing that for those that don't remember like these. I remember dogecoin. This is probably the biggest example of like, you know, how crazy things can get. I think at the peak, I can't remember exactly what it was, but basically Elon Musk came out on Saturday Night Live, right, And was talking about dogecoin. This was pumped up for months. He's gonna pump it. He's gonna like, we're all going to the moon. Dogecoin's going to like $4. Let's go like get on dogecoin. Elon's going to talk about it. Elon comes on Saturday Night Live the moment he, at the end of the show where he mentions dogecoin, absolutely plummets price tanks the old age buy the rumor sell the news. This thing just goes like, I can't remember how, how much it went down. But this thing tanked, right? And everyone's sitting there going, we're all going to be millionaires, guys. You cannot be on the same side of the screen as everyone else, especially these smaller meme coins. The less people that own something, the more people that, you know, basically the less the, the, what am I trying to say here? The, the less token holders there are, the less people that are going to make money. And that's what you got to be aware of. Because as soon as someone starts drip feeding or start selling and the, the boat, you know, starts to sink, we need to get the hell off.

Even think about this. People that we know, like you and I and the people in our company are very, very sophisticated. We understand this stuff. Just those two guys that we were talking to who will remain nameless at, at our, at our meetup. Just their level of sophistication is insane. Could you imagine people that, and they work full time jobs. Could you imagine the people that are really highly sophisticated and the tooling and things they know and the way that they have set up their crypto trading. It's like I'm not even going to try. Just know.

Guys, we'll wrap it up there. Oh, we hope you found that valuable. If you like these episodes, we'd love for you to leave us a follow on your podcasting app or if you're on YouTube, please leave us a subscribe. It really does help the podcast. If you have any friends or family or other people in crypto that you think would find this valuable, we'd love for you to share it with a friend. It's helpful how we grow the podcast each and every week. Thank you so much for listening, team. We'll see you on the next episode.

Thanks, champions.