Latest / Financial Survival Network / Meme Coins & The Future of Crypto - Dan Novaes #6224

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Meme Coins & The Future of Crypto - Dan Novaes #6224 · Financial Survival Network

• 0:00
  Speaker 1: And having the United States be a leader in crypto,
• 0:03
  Speaker 1: and I think that that happens, that is going to
• 0:05
  Speaker 1: generally bring a lot more people. I think over the
• 0:07
  Speaker 1: last four days, we've had hundreds of millions, if not
• 0:11
  Speaker 1: billions of dollars and millions of people onboarded into crypto
• 0:15
  Speaker 1: in a way that no one's ever seen even with
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  Speaker 1: an outside of even bitcoin.
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  Speaker 2: You know, with this meme quin, you.
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  Speaker 3: Are listening to Carrie Lutz's Financial Survival Network where you
• 0:25
  Speaker 3: get valuable information you just can't find anywhere else to
• 0:29
  Speaker 3: thrive in today's trying times. You need the Financial Survival
• 0:33
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• 0:38
  Speaker 3: com and get your free newsletter and gift. Financial Survival
• 0:42
  Speaker 3: Network now more than ever.
• 0:48
  Speaker 4: And welcome you are listening to and watching the Financial
• 0:52
  Speaker 4: Survival Network. I'm your host, Carrie Leutz. Well, I am
• 0:55
  Speaker 4: back from Vancouver from the Vancouver Resource Investment Conference. Very
• 1:02
  Speaker 4: upbeat crowd gold, the miners taking off, but nonetheless the
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  Speaker 4: talk of the town is crypto, especially the Trump coin
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  Speaker 4: and then the not to be outdone, the Milania coin.
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  Speaker 4: And Dan EVAs is here with us. Now you've been
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  Speaker 4: on here before. Dan meme coins, meme stocks. What is
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  Speaker 4: going on here? I mean, right now as we're speaking,
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  Speaker 4: Bitcoin is back over one hundred thousand dollars? Is it
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  Speaker 4: heading to ten million? Are we going to have a
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  Speaker 4: strategic bitcoin reserve? And not the least of which russ Aulbrick,
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  Speaker 4: founder of a Silk Road, has been I don't know
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  Speaker 4: whose sentence was commuted or if he was pardoned, but
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  Speaker 4: he's out of jail exactly.
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  Speaker 2: That's of yesterday.
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  Speaker 1: Yeah, I mean, I mean, I think you and I
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  Speaker 1: talked a little bit after the Trump election in November.
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  Speaker 1: Since then, we've had just a tremendous amount of things
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  Speaker 1: that even I would anticipate. You know, I didn't think
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  Speaker 1: that Trump was going to launch his own meme coin,
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  Speaker 1: but you know, I do think that the administration is
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  Speaker 1: signally how they're going to treat crypto, how they're going
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  Speaker 1: to treat AI. And you know, Trump launching his on
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  Speaker 1: meme coin two days before he has inauguration is is
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  Speaker 1: a reflection of what the administration has in store for
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  Speaker 1: the next four years. And so I think that, you know,
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  Speaker 1: financial clarity will come to the crypto markets. If you
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  Speaker 1: look at the appointment of who the new SEC chair
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  Speaker 1: is that is a new crypto task Force is being
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  Speaker 1: in place. And in the past, the way that Gary
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  Speaker 1: Gensler treated this task force was really around enforcement. This
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  Speaker 1: one will really be about, Hey, here are the guidelines
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  Speaker 1: of how this space is going to play. And I
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  Speaker 1: think that you know, Trump and the administration is really
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  Speaker 1: focused on creating the United States as a financial leader
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  Speaker 1: and haven for crypto companies, and that's where we're going
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  Speaker 1: to see this modern day gold rush in crypto and
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  Speaker 1: AI and so I I think that's kind of what
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  Speaker 1: we're seeing here.
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  Speaker 4: Garry Well, I'm going to take it one step further
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  Speaker 4: than you. We've heard a lot about the bricks more
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  Speaker 4: countries joining. Indonesia just joined it, and PRIs. They're basically
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  Speaker 4: their theme is proposing a replacement to reserve currency to
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  Speaker 4: the dollar. It will be forty percent backed in gold.
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  Speaker 4: I mean, personally, I don't believe it can work because
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  Speaker 4: India hates China, Russia is not happy with China, China
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  Speaker 4: is not happy with Russia. And Brazil their economy has
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  Speaker 4: been a joke. I mean, all of these countries, their economies,
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  Speaker 4: even though ours has not been spellar but there's economies
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  Speaker 4: for the past ten years have been in the gutter
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  Speaker 4: China imploding all these things. So I think it's an
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  Speaker 4: acknowledgment the day of the dollars dominance is over, but
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  Speaker 4: we're going to have a replacement for it that somehow
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  Speaker 4: the US will be responsible for and that will stop
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  Speaker 4: an implosion of the or it's an attempt to stop
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  Speaker 4: an implosion of the global economic world order.
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  Speaker 1: Yes, And I think that that's why the bitcoin reserve
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  Speaker 1: makes a lot of sense. Right, if there's a unified
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  Speaker 1: currency across the world, but the US is the first
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  Speaker 1: mover in creating a strategic bitcoin reserve, it's somewhat can
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  Speaker 1: get us back to the gold standard, right that we
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  Speaker 1: saw in the seventies and so on.
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  Speaker 2: So I think.
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  Speaker 1: That that's the thesis behind being able to own five
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  Speaker 1: percent of the overall bitcoin network. And if the US moves,
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  Speaker 1: you're going to have other countries that are going to
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  Speaker 1: likely move as well, and that will then somewhat still
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  Speaker 1: allow the US to take that. You know, it moves
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  Speaker 1: away from the dollar, but it still impacts the dollar,
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  Speaker 1: right because the.
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  Speaker 2: Bitcoin value would still go up.
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  Speaker 1: And so I think that that's one of the most
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  Speaker 1: interesting things that we're going to see if that actually
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  Speaker 1: is going to be implemented. And then the other secondary
• 5:01
  Speaker 1: one is around this concept of not taxing gains on
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  Speaker 1: US based cryptocurrencies. A lot of rumors and a lot
• 5:08
  Speaker 1: of speculation around that. If you see what's happening, there
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  Speaker 1: is some merit to this. I don't know if it
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  Speaker 1: will happen this year and how it will happen, but
• 5:17
  Speaker 1: you can see that the administration is very focused in
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  Speaker 1: bringing the leading companies of the world to the United
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  Speaker 1: States and having the United States be a leader in crypto,
• 5:27
  Speaker 1: and I think that that happens that is going to
• 5:29
  Speaker 1: generally bring a lot more people. I think over the
• 5:32
  Speaker 1: last four days, we've had hundreds of millions, if not
• 5:35
  Speaker 1: billions of dollars and millions of people onboarded into crypto
• 5:39
  Speaker 1: in a way that no one's ever seen even with
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  Speaker 1: an outside of even bitcoin, you know, with this meme cooin,
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  Speaker 1: you know all these Trump supporters that are buying it.
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  Speaker 1: So it's been just a really crazy ride I think
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  Speaker 1: for the crypto markets over the last like two or
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  Speaker 1: three months.
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  Speaker 4: And I will direct your attention to the fact that
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  Speaker 4: as of January of this year, the US is still
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  Speaker 4: holding two hundred thirteen thousand and change bitcoins that are
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  Speaker 4: currently worth around fifteen billion. Yes, so they've already got
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  Speaker 4: the makings of it. I mean a lot of this,
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  Speaker 4: you know, I'm against civil asset forfeiture is a general rule,
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  Speaker 4: but a lot of this came from the holdings of
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  Speaker 4: the Silk Road marketplace, which means that russ Albrick had
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  Speaker 4: fifteen billion dollars, which is probably equivalent of about fifty
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  Speaker 4: million when they took it. Yeah, you know, so we've
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  Speaker 4: already got the makings of it, and you know, I'm
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  Speaker 4: just my question, Dan, is this what role does gold
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  Speaker 4: play in a crypto based currency, crypto based world. Is
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  Speaker 4: it just a barbarous relic or is there a use
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  Speaker 4: for it?
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  Speaker 2: You saying gold in terms of the original asset, I.
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  Speaker 4: Think hard asset gold like gold you can hold in
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  Speaker 4: your hand and you can fight the Yes, Darvin, it's authenticity.
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  Speaker 2: Yeah, so I.
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  Speaker 1: Don't think that I don't I don't necessarily think that
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  Speaker 1: gold is going to go anywhere. I mean, if you
• 7:05
  Speaker 1: kind of look at the boomer generator, like the older
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  Speaker 1: generation is still very much invested in gold.
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  Speaker 2: I mean, gold is an uh, I don't know, eighteen trillion.
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  Speaker 1: Dollar or so market whereas you know, bitcoin is uh
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  Speaker 1: maybe sub two trillions still maybe at this price it's
• 7:22
  Speaker 1: at two trillion, but we're talking about one in one
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  Speaker 1: tenth of the approximate overall market cap of bitcoin versus Goal.
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  Speaker 1: And if you think about the growth there of what's possible,
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  Speaker 1: I mean, I think that Bitcoin is going to grow
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  Speaker 1: substantially faster and more especially given it's the kind of
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  Speaker 1: like the digital version of that gold. If you also
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  Speaker 1: think about the millennials, the you know, Gen X, the
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  Speaker 1: Gen Z, are they more likely especially the Gen zs
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  Speaker 1: and millennials that are now going to become you know,
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  Speaker 1: that large, a very large part of the economy, and
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  Speaker 1: a lot of that wealth transfer is going to go
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  Speaker 1: from boomers into millennials and so on.
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  Speaker 2: As you know, the generation's pass.
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  Speaker 1: Are they more likely to buy bitcoin or are they
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  Speaker 1: more likely to buy gold? I still don't think that
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  Speaker 1: the goal is going to go anywhere, but it's not
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  Speaker 1: going to have that same growth curve as bitcoin, right,
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  Speaker 1: So I do think that those will be assets that
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  Speaker 1: people will continue holding. And I think that you also
• 8:15
  Speaker 1: can look at really interesting stuff and I think this
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  Speaker 1: actually happened after our last conversation carry in November where
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  Speaker 1: China struck some huge gold reserve. It was like eight
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  Speaker 1: hundred billion dollars worth of gold or something, and then
• 8:28
  Speaker 1: just kind of came out of nowhere. And so suddenly
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  Speaker 1: you have this thing where the supply of gold, the
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  Speaker 1: overall market at that time was maybe eighteen point eight
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  Speaker 1: trillion or nineteen trail, whatever it is, and then suddenly
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  Speaker 1: someone finds eight hundred billion dollars worth of gold. So
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  Speaker 1: what happens The price of gold actually goes down because
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  Speaker 1: there's more supply. With bitcoin, that can't happen, right, You
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  Speaker 1: have a finite supply of bitcoin, and it will only
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  Speaker 1: be more expensive and harder to mind over time. And
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  Speaker 1: so I think that that's also one of the characteristics
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  Speaker 1: that you see these ETFs and you know, the black
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  Speaker 1: Crocks of the world talking about that that just can't happen,
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  Speaker 1: you know what I mean? And so I think that
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  Speaker 1: those are the how I see both of those playing
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  Speaker 1: out in the in the market and the future goal
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  Speaker 1: versus bitcoin.
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  Speaker 4: All right, well, hey, so what what's your take on
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  Speaker 4: the on those coins? Though like instantly the Trump coin
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  Speaker 4: was worth thirty billion dollars, I haven't looked to see
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  Speaker 4: what it what it's going to be now, but you
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  Speaker 4: know what it's rating at now, but pretty shocking. Yeah.
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  Speaker 1: Yeah, I saw when it came out and within the
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  Speaker 1: hour it was I saw it when it was like
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  Speaker 1: a dollar or two, and then it went to like
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  Speaker 1: seventy five and in the next forty hours after.
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  Speaker 2: So I think the way to think about meme coins,
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  Speaker 2: I think it's a it's a hard I remember when
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  Speaker 2: I first saw.
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  Speaker 1: The first means and I didn't really get it personally,
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  Speaker 1: you know, I thought it was more of a joke.
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  Speaker 1: And and and there is a component of that that
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  Speaker 1: is true.
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  Speaker 2: It's kind of like speculation.
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  Speaker 1: But what you're what are you buying when you're mean point,
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  Speaker 1: you're not really buying the utility of the coin. There's
• 10:03
  Speaker 1: not really a utility. But you know, it's it's sort
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  Speaker 1: of like a cult. It's like belonging to something. It's
• 10:08
  Speaker 1: belonging to the club. Right, So I'm amento of his victory, right, yeah, exactly.
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  Speaker 1: And I think even if you remove like Trump from
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  Speaker 1: the equation, you know, think about the college you went to,
• 10:20
  Speaker 1: you like you're loyal to that college, or think about
• 10:22
  Speaker 1: a fraternity you're joined, or a club you're a part of,
• 10:24
  Speaker 1: you know, or a brand that you wear. It means
• 10:26
  Speaker 1: that you are a part of something. And I think
• 10:28
  Speaker 1: that that's what mean coins really are. And so people
• 10:30
  Speaker 1: get around that. And I think Trump, you know, he
• 10:33
  Speaker 1: is one of the people that have been able to
• 10:34
  Speaker 1: move such a large amount of people than the ation
• 10:38
  Speaker 1: that back what he's doing, and it makes sense that
• 10:40
  Speaker 1: this Trump Mean coin would explode, right, And so I
• 10:44
  Speaker 1: think that that's kind of what you're going to see
• 10:46
  Speaker 1: with these meme coins in the future. And then people
• 10:50
  Speaker 1: are somewhat gambling into these things, you know, the value
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  Speaker 1: going up, but it's it's somewhat of kind of what
• 10:54
  Speaker 1: happens in the trading card market, right, certain things get hot,
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  Speaker 1: then people sell it, and that is what it is,
• 11:00
  Speaker 1: you know, and that people are making their money on that.
• 11:02
  Speaker 1: So it's interesting to see though that they launched it,
• 11:05
  Speaker 1: and I think they will provide guidance and that's going
• 11:07
  Speaker 1: to be one of the most interesting things that we'll
• 11:08
  Speaker 1: see in this market in this coming year.
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  Speaker 4: Yeah. So it's like you can buy a Maga hat
• 11:14
  Speaker 4: or you could buy a Trump mean coin.
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  Speaker 2: Yeah, right, one's resyllable, that's not so.
• 11:20
  Speaker 4: Yeah, So when we look forward to when we have
• 11:24
  Speaker 4: this conversation next January, where do you think crypto is
• 11:27
  Speaker 4: going to be? Then it'll be integrated into the US
• 11:30
  Speaker 4: financial system along the current lines that it appears to
• 11:34
  Speaker 4: be starting.
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  Speaker 1: I think that crypto will continue to have an upward momentum,
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  Speaker 1: and I think that bitcoin, I think it will play
• 11:43
  Speaker 1: a larger and margin role. If you look at the
• 11:45
  Speaker 1: appointments that are being made, they are all pro bitcoined
• 11:50
  Speaker 1: holders or pro crypto holders in general, not just Bitcoin.
• 11:53
  Speaker 2: There's other all coins that are there as well.
• 11:56
  Speaker 1: And I think that if you haven't still gotten into
• 11:58
  Speaker 1: this market in some where you're diversifying at least you know,
• 12:02
  Speaker 1: two to five percent of your of your you know
• 12:05
  Speaker 1: money that you would invest into this asset class, it
• 12:08
  Speaker 1: would be foolish because you know the government. I mean,
• 12:10
  Speaker 1: if you look at you know, his mean poin asign.
• 12:13
  Speaker 1: Look at World Liberty Financial Right. World Liberty Financial is
• 12:16
  Speaker 1: Trump's DeFi project. It raised hundreds of millions of dollars,
• 12:20
  Speaker 1: but is a dfive project. And over the last three
• 12:23
  Speaker 1: days they bought I think it was they bought forty
• 12:26
  Speaker 1: seven and they kind of wanted to make it commemorative
• 12:28
  Speaker 1: to his presidential nations. So they bought like forty seven
• 12:30
  Speaker 1: billion or forty seven million dollars worth a bitcoin, four
• 12:32
  Speaker 1: point seven million dollars of all these all coins a
• 12:35
  Speaker 1: bunch of eighth and so, you know, would they be
• 12:37
  Speaker 1: doing that if they didn't think that crypto is going
• 12:40
  Speaker 1: to play a big part in this. So, I mean,
• 12:42
  Speaker 1: the signs are all here, you know, and this is
• 12:44
  Speaker 1: like one of those moments in time. What I've been
• 12:46
  Speaker 1: thinking to myself over this past weekend, not only as
• 12:48
  Speaker 1: a founder of a company but also just be in
• 12:51
  Speaker 1: the space, is what would I wish I'd known back
• 12:54
  Speaker 1: in twenty seventeen, twenty eighteen when this crypto market were
• 12:57
  Speaker 1: just starting to boom that I didn't do And how
• 12:59
  Speaker 1: can I really think about that and how my business
• 13:01
  Speaker 1: is going to be impacted or how my financial future
• 13:04
  Speaker 1: is going to impact it in this regime and or
• 13:06
  Speaker 1: this future that we're kind of getting into now.
• 13:09
  Speaker 4: All right, well, I think we'll leave it at that,
• 13:11
  Speaker 4: but definitely interesting times ahead. Dan. How do we find
• 13:14
  Speaker 4: you on the web? How do we connect with you?
• 13:16
  Speaker 2: Yeah? You know, my Twitter is at nevias Underscore AI.
• 13:20
  Speaker 1: You can also check out our company at Modemobile dot
• 13:22
  Speaker 1: com doing a lot of stuff in the consumer space
• 13:25
  Speaker 1: and also in the web three space for everyday consumers.
• 13:29
  Speaker 4: Excellent. Appreciate that I've got a question for Dan myself.
• 13:31
  Speaker 4: Shoot me an email kl Atcarrielets dot com. You'll find
• 13:35
  Speaker 4: a link to Dan's site in the show notes this
• 13:37
  Speaker 4: interview on Financial Survival Network dot com. We just asked,
• 13:41
  Speaker 4: while you're there, please sign up free free newsletter subscription.
• 13:45
  Speaker 4: Like sixty five thousand other FSN members have Dan a pleasure.
• 13:50
  Speaker 4: Thanks for stopping by.
• 13:51
  Speaker 3: Thank you so much, Kerry, Thanks for having me, Thanks
• 13:53
  Speaker 3: for listening to Carrie Lets's Financial Survival Network your solution
• 13:58
  Speaker 3: to today's trying times. For the latest, go to Financial
• 14:02
  Speaker 3: Survivalnetwork dot com. Financial Survival Network now more than ever.