Ep. 15 – Cryptic Discussions about Crypto Currency

Matthew Maschler:
Welcome to the Real Estate Finder podcast. I am Matthew Maschler, a real estate broker in Florida, the state of Florida. I’m based out of Palm Beach County, but I cover the whole state. And I wanted to talk about real estate on my real estate podcast, but I wanted to back up for a second and talk about property. And there’s a difference between property and real estate. When I was in law school, property was one of the core classes like constitutional law, criminal law, and property was another one of those basic first year courses. And property can be divided into real property and personal property, real properties, land and improvements to the land. So a hotel that’s built on the land, a barn, a house, a restaurant. So that’s real property, real estate, but there’s other kinds of property and that’s why the class in school is property, not real estate law.
And the other types of property are personal property, and there’s a third class intellectual property. Today we’re going to be talking about personal property, which is things that you can own. That’s not real estate. Cars, boats, airplanes, hats, clothing, jewelry, money, stocks, bonds, gold and other assets are personal property. And in that category of personal property is the subject that’s been on a lot of people’s minds lately, and for the last few years, cryptocurrency. And so why I think cryptocurrency relates to a real estate finder podcast is people, it’s an investible asset similar to real estate. So it’s an investible asset. It’s a financial product. It’s something that my audience may not know a lot about. So the other day I just took to Facebook and I asked if anybody wanted to appear on the Real Estate Finder podcast. And I got a lot of calls.
There are a lot of people in the crypto space, and a lot of people want to stay anonymous, and I knew that. And then some people come out of the woodwork because on the one hand, while some people want to be anonymous, there are other people who try to shout it out from the rooftops and preach from the rooftops. So I got an interesting response to my quest to have a guest speak about real estate, and it was a friend of mine on Facebook. I wanted to limit the viewers to people I know, not the viewers, the interview to people I know. So it was a friend of mine who reached out to me on Facebook. We are Facebook friends, but we actually don’t know each other in real life. We actually have a friend in common, and I use the word friend in common loosely because this person is not a friend of mine, it’s an acquaintance of mine. And Keith. Keith, you’re on the call, right? You can hear me okay?
Keith:
Yeah, yeah, I can hear you now. Yep.
Matthew Maschler:
Okay. So when Keith reached out to me, he reached out to me and said he was friends with my acquaintance, Mitch, who I no longer speak with. He’s completely blocked on the Facebook. He hasn’t liked me since high school, and there was no reason to keep him around in my life. And in qualifying and having this conversation with Keith, I think Keith understood that and why I wouldn’t want this person in my life. And so shout out to Mitch. I know you’re not listening, but he’s a friend or a relative of my good friend Stuart. And I’ve always liked him. I always thought he was a good guy, but he wants nothing to do with me, and that is perfectly fine, but at least I got to meet a fascinating person through him, Keith, and it’s okay if I use your name, Keith. Yeah, we’re good.
Otherwise, I have to start the recording over. And Keith is a friend of mine because I like wrestling and I have the other podcast, the Matthew Mania podcast, where I talk about wrestling. And Keith, who’s in some of my Facebook groups about wrestling, but he doesn’t always comment, so I didn’t initially know who he was when he reached out to me. So maybe I’ll talk to Keith or somebody else in my wrestling group about crypto. And there are some parallels in the wrestling universe to crypto that I do want to talk about. And so I’ll have a follow-up show on the Matthew Mania podcast. But today we’re going to talk about crypto. I was really hoping for a friendly chat. Very, very high level. So Keith, my first question is what is crypto?
Keith:
Well, and it’s very interesting that we’re even having this conversation right now considering it’s December 4th and overnight we had this crazy flash crash, and overall some people saw something coming more so because if you look at the overall stock market, the stock market obviously has not been that healthy as of at least the past few weeks, especially now you have the omicron variant that’s going around and considering how it’s been negatively for the past week, two to two weeks. Now, crypto, ironically enough, has been coupled with the stock market for the past few years. If you go back to March of last year during the Covid dump, the down s and p just tanked. It was just like poof, it was done. And Bitcoin, ironically enough, had one of its best buying opportunities where it crashed from, it was what, like $9,600 down to 3000. It actually went down below the 200 weekly moving average, which has been won the most best buying opportunities in its history. And it
Matthew Maschler:
Came back up. Lemme ask, when did it go from 9,000 to 3000?
Keith:
You remember? I believe it was in March. It was March of 2020. It was around, I think it was March. I took the exact day I took the data, but it was when we had the Covid dump, right? And so what happened was that week all of the stocks were tanking. Remember, they actually had to halt the Dow. They had to Hal the stock market. So during that time, crypto was looking like it was crawling off the edge of Darris divergence to galore. Everything was just getting crazy at the time, Bitcoin was, I’m actually very big on Ethereum two, which I’m going to get into. I texted you a chart that I wasum analyzed Ethereum to Bitcoin. That’s another cryptocurrency, which I will get into, but I’m more into east than Bitcoin, but I’m heavy into both. So Ethereum at the time was in the two hundreds, Bitcoin was over $9,000.
Both of them took a major dump, and I mean it broke. It was really bad. You woke up in the middle of the night and in the stock market, if you see a few percent, you see five, 10%. Everyone’s breaking out crypto currency. It’s an average day. Well, during the covid dump, I mean you’re talking like thousands and thousands and thousands of dollars. Bitcoin went under $4,000. Now the one thing with Bitcoin is its strongest support is typically in the bottom. They’re talking about the bottom. Bottom is the 200 weekly moving average. It went way below the 200 weekly moving average. If you happen to put the buys in the mid three thousands, it was your best buying opportunity in Bitcoin before this runup for this cycle.
Matthew Maschler:
And what is Bitcoin now?
Keith:
Bitcoin right now, listen, it had a bad dump overnight Bitcoin, I believe right now. Last time I checked, I just had my chart up. It was just over $48,000. Is it 47 now? So it has recovered. It did drop to just below 42, 40
Matthew Maschler:
2000,
Keith:
Yes. This is overnight. It went from was in, it was the 53,000 was important to hold a dip load of 53,000. And now the thing is, whenever you get into weekends, you can always expect chaos, right? It can go, it’s either stagnation or it’s chaos. And the reason why is because I’m not sure if you’re familiar with the Chicago Mercantile Exchange, which is the CME. Now, what happens is is let’s say on the weekends, right when it’s closed, Bitcoin goes up or down. It goes up or down. Let’s say it goes up down a few thousand dollars, it forms CME gaps. Now, typically, most of the time these CME gaps fill. So what I figured, I was like, you know what? We’re going to have potentially a boring weekend.
The stocks haven’t been that healthy this past week. Once again, I figured if we get a dump, maybe, maybe you’re looking around like 40, 49,000, because I look at some of the important simple moving averages in the daily and weekly. Well, what happened was I wake up in the middle of the night, Bitcoin w below $42,000 takes the market with it just dumps across the board. And if you happen to have random buys, 43, 40 4,000 on Bitcoin specifically, I mean it recovered mean I still think it’s going to recover into tomorrow, but it’ll determine with some of the strong support levels, if it turns into resistance, what’s going to happen going forward. Also, it’s going to depend on what’s going on with this variant, what’s going on with the stock market as well too. But oh yeah, it took a major dump, and that’s not common.
If you have maybe three, 4%, yeah, you can expect that, but to have 20, 30% drop one shot flash crash, that’s not common. It takes a lot. It was a complete capitulation that, and when you look at where you can be in the market cycles, you say, okay, where are we? Are we in hope? Are we in greed? Are we in euphoria? Are we in complacency? Right? It’s tough to tell because in prior cycles, typically you have euphoria, you get a blow off top. I’m not sure if you’re familiar with a blow off top, but pretty much you’re like a few days of euphoria. Everything is pumping galore. This thing is just going crazy. Typically, Bitcoin pumps first takes over with the market dominance, and then the all coins follow suit. A month or two later when Bitcoin has, it crashes down and the money from Bitcoin goes into Altcoin.
So that’s typically where you have, when the money from Bitcoin goes into where Al coins, al coins like Ethereum, you have Chainlink, you have Ripple, you have Cardan, you have all these other altcoins that are at play. You see in 2017, 2018, you had all these altcoins, but now you have thousands upon thousands upon thousands of al coins. It’s like when crypto first started, which depends who you talk of, what exactly cryptocurrency is. Some people, it’s an investment. Some people it’s foreign money. If you go to, let’s say El Salvador, I’m not sure if you’re familiar with El Salvador. El Salvador, not the Bitcoin is this foreign currency. So for El Salvador, it’s hope the banking system has failed them. They turned the Bitcoin. So far it’s been working fairly well. I mean, they’re even buying the dips. This morning, the president of El Salvador posted on Twitter, Hey, I bought the dip.
So depending on who you talk to, cryptocurrency can have many different versions. For me personally, I got involved in 2015, and it was more of an investment. I had two friends that were very heavily into stocks. They were gold and silver bugs. I went to college with both of them, and the one guy came out in 2013, he said to me, Hey, listen, if you really want to get involved with something, should really look into cryptocurrency, I think Bitcoin is going to be the future. This is before Theorem was even released, by the way, this is before some of these other majors were released. It was pretty much a Bitcoin you had. Litecoin was one of the originals too. Litecoin was actually my first buy, and I was like, you know what? I don’t really know. I’ll throw some money at it. I thought nothing of it. Once I bought in 2015, and I saw it happened in two 16, 2017, I started putting more money in. But the thing is, is I didn’t know what I was doing. I was just investing euphoria, got the best of last cycle, and I got burned from it. It’s because I didn’t listen. When you see everything go up and it’s going up and it’s going up, and I mean at the time, Ethereum, for example, in the last cycle, I went from under $10 to 1400. So I mean it went
Matthew Maschler:
From $10 to
Keith:
1400, under $10 to 1400 by the time the cycle from when it was was less than two years.
Matthew Maschler:
And that’s Ethereum.
Keith:
Yeah. And then from there on
Matthew Maschler:
What you said, some people think it’s a currency, some people think it’s an investment. Yeah. What could you do with these things?
Keith:
Well, here’s the thing. All the cryptos are different. Right now, you’re familiar with the Metaverse with all this. I’m sure you’ve seen Facebook change their themselves, the quote unquote meta, right? Yeah.
Matthew Maschler:
But not all my audience understands all these words.
Keith:
Okay, so you know how you’re in a real estate podcast, correct? Right.
Matthew Maschler:
Okay.
Keith:
Now, and let’s say you’re in the central land, which is Bitcoin manna, right? Or you have the sandbox, you have all these different metaverse coins. Now the thing is, do you know that there was a land in the metaverse that sold, I think it was for $1.4 million. It’s not real. It’s in the metaverse. It’s sold for actual money. You can go in and you can use the actual currencies and you’ll be able to use them in the platform. So you have different use cases depending on what the cryptocurrency is. So you have the Metaverse tokens, which they have use cases in their platform, like in a game. If you go into a game and you’re using, let’s say a token, like a token in the game to buy armor or to buy whatever it is, you can use these coins in the game. And also keep in mind these coins are, you can trade on different platforms like Coinbase Pro, Kraken, Binance and so forth.
You have other coins. You have Bitcoin, which is only 21 million Bitcoin. Now, Bitcoin originally was designed as for digital transactions, purely transactions. Now, Bitcoin is slower. It’s older technology. Yes, they’ve had some upgrades. They recently had the tapper upgrade, which helps with privacy and has its own benefits. And then you have these other coins, which I did mention Ethereum. You have Ethereum, which is smart contracts. I’m sure you know what NFTs are, correct? NFTs like non fungible tokens. Non fungible tokens are built on Ethereum. And also some of the competitors like Solana, you have Avalanche card, A DA just recently had to main an upgrade, and also they’re getting into the game. So depending on what sector, there’s different use cases. Also, I’m not sure if you’re familiar with the SEC lawsuit, but you have, okay, SEC is currently in a lawsuit with XRP, ripple. Now Ripple, it’s a love hate with me and Ripple.
There’s two specific tokens that are very similar. One is Ripple, one is Stellar, XLM. Stellar is actually backed by IBM and the creator of Stellar X, lm, actually he came from the Ripple team where he’s, he’s still unloading Ripple tokens on the market. I think he’ll be done within a year as part of the agreement. And pretty much like, alright, so let’s say you go the Western Union and you have family that’s overseas. Okay, you have family overseas and you want to send them money, you want to send ’em a few hundred dollars, okay? Now typically the Western Union, the fee is, let’s say it’s 15 bucks, right? 20 bucks for you to send that money across the world, right? It’s going to cost you some money. Well, with their technology, it’s costing them pennies. So all these different cryptocurrencies have their own effect on how they can impact the real world.
It just depends on who can understand it, understand how to use it. I mean, I can go on for hours on all the different cryptocurrencies and the different use cases. And the thing is, it’s like you may have smart contracts, you have these different kinds of sectors, but there’s dozens and dozens and dozens that are in each sector. Some will see, and you’re going to get the maxis that are saying, oh, this one’s the best. This one’s the best, this one’s the best. You get into smart contracts and me, I’m huge on Ethereum. You walk into my condo and I have the Ethereum everywhere. I sent you a picture. It’s like I have the wall art everywhere. I’ve always been bang on Ethereum. You can see, I believe in what they’re doing. What do
Matthew Maschler:
You have everywhere you can see the Ethereum?
Keith:
Well, no, no, no, no. You can’t see the Ethereum. I have Ethereum. I have it in my cold storage and I have it also on a treasure wallet. And I also have it Onfi where I’m collecting interest on it. You have these platforms like BFI Celsius, where if you hold their crypto, they’re lending it out to institutions and you get interest on the crypto and it compounds every month, for example. But I’m very big. When you walk into my condo, you’ll see war, you’ll see a Bitcoin war, you’ll see Ethereum. I have a Doge next to my dogs in there. So I like this show like, Hey, yeah, I’m in the cryptocurrency. Once I start talking about it, people lose their minds. They either want to jump in and eighth in because they see what I’ve been able to accomplish with it, or they get curious and they want to do their own research.
But when it comes to Ethereum, I’m actually very big on Ethereum, I believe, and what they’re able to accomplish. They have the most developers at any of the teams of smart contracts teams. One interesting thing is you have their competitors cred. Charles Hoskin, which is one of the top competitors of Ethereum, came from Ethereum years ago, just like Polka dot. And then also Solana, the creators, they came from Ethereum. So vitalic who is pretty much, once you get to learn about Vitalic Budin, who is one of the original creators of Ethereum, he’s a complete genius. I mean, what he’s been able to accomplish soon, Ethereum is going to be able to do up to a hundred thousand transactions per second, and then when they’re able to have this upgrade come out, they’re going to be faster than a Visa and MasterCard. We processing transactions right now, that’s been a thorn on their side because one in their competitor, Solana is cheaper, cheaper to use, and they faster.
But the thing is, once the network gets congested, they can’t handle it. It’s happened once before where Ethereum, they’ve been progressing. They’re coming up with all of these different updates, and what they’re going to be able to accomplish soon is going to be astronomical. I don’t think the other platforms and their competitors are going to be able to keep up. I think they’re going to see even more market dominance go into Ethereum. And that’s what I was sent you, that chart I sent you, the little chart where you probably were confused and you saw the Ethereum, the Bitcoin ratio where I showed you it was like 0.083. That’s what it is today, and it’s great to see, and it’s also worrisome. If you want, I can go over why, if you want me to get into it, I can go right into it real quick for you.
Matthew Maschler:
But the listeners, they don’t have the chart. It’s an audio only show, so
Keith:
I understand. No, I understand. But I’ll explain it. I’ll explain it of why I go by that chart. You see, here’s the thing. When you get into these alt coins, and like I said, there’s thousands and thousands of alt coins, the way I trade them is I like to go by the alt altcoin to Bitcoin ratio. You can pull up a chart and you can say, Hey, here’s Bitcoin, US dollar, here’s the four hour. And you can go and you can see of what’s happening over a week, two week, a month of what’s playing out, whether are we in the rising wage or we in descending triangle. There’s all different ways doing the Ethereum to Bitcoin chart since the beginning, well actually not more since little past since the beginning, has been in a massive inverse head and shoulders, which is a very bullish chart.
If it was a head and shoulders, it’s like you have a shoulder, you have a head that goes up, and then you have another shoulder, and then boom, crash down. Ethereum is the opposite. It’s been the very bullish chart over the past few years. Now that’s from a macro, a longer term aspect. If looking from a short term aspect, Ethereum’s looking really good, it’s still looking good right now. This dump doesn’t help. It’s actually performed better than expected, but from a longer term aspect, it looks really good. Now, right now it’s at 0.083. Going back to a year ago, it was at 0.027. Now, what this means is this, so ideally I’ve been loaded on Ethereum. Ethereum is one of the main reasons why I’ve been able to pay my student loans. I’m debt free besides my mortgage, and I just refinanced to a 15-year-old mortgage, mostly because of my trading.
I do invest in other coins, but Ethereum is my biggest bet. Now it was 0.027. So now, let’s say right now, let’s say Ethereum goes to 0.1 of a Bitcoin every 10 Ethereum equals one Bitcoin. If it hits that, right? That’s where the ratios come into play. Point zero two seven, I think it was every 33 or 34 Ethereum I ran that range would equal Bitcoin. So Bitcoin was outperforming Ethereum. I had Ethereum outperform Bitcoin because I had a massive inverse head and shoulders playing out, and I also saw other charts to compare that had the same chart. I mean, it was forming, but it didn’t fully follow through. Right now, it’s been following through. It’s been a great investment opportunity, especially when you able to play it. You see, when you get into cryptocurrency, people, some of the Maxis will say, Hey, you’re buying Altcoins to get into Bitcoin.
But the thing is, is that’s an older way of looking at it right? Now. The thing is, there’s so many different use cases for these cryptocurrencies. Think about it. If you go to buy, you’re like, Hey, I want to see I have a few hundred of these coins. Instead of 0.0008 of a Bitcoin, right? You’re going to get into these other coins and you see what they’re doing and you’re like, oh, I believe in the project. Well, with Ethereum, I believe in the project, and also I have, it outperformed Bitcoin actually when it’s upgrade coming out the Ethereum 2.0. I think by then I think Ethereum has a chance at overtaking Bitcoin as the number one cryptocurrency in the world. I mean, right now, oh yeah. Right now, if you pull up coin market cap, and I’ll tell you right now where we’re at. I just sat down and take a look at it, and like I said, I know I can’t share charts on here, but the market cap bitcoin’s under a trillion, under a trillion market cap, just over 53,000, puts it at a trillion.
It’s at 923 billion, Ethereum’s at four 82 billion right now, the next closest coin in Binance coin, which is at 94 billion, and then you have Tether, which tether is a whole earth conversation itself. Some people say it’s a scam. It’s also speculated to be connected with ever. I know it’s gone on with ever grande USD Tether. Apparently there was some loans that they’ve done with ever Grande and USD Tether is actually the biggest trading pair, A USD trading pair in crypto. So if USD Tether ever got hit with anything, it would crash the market even more. But that’s a whole nother conversation itself. But with Ethereum right now at 482 billion, you think about it. Let’s say Ethereum keeps on pumping against Bitcoin. It has a chance to become the number one cryptocurrency, and do I think it’s going to happen? I think eventually it will happen. I don’t think it’s going to last though.
I don’t think it’s going to last, but it’s going to happen. And the thing is is because Bitcoin, yes, it’s digital gold. There’s only 21 million Bitcoin, there will never be more than 21 million Bitcoin with a lot of these cryptocurrencies, you have Dogecoin, these memes, great money opportunities, great money opportunities, but the thing is with those, the circulation keeps on increasing. So when you get in, you’re like, well, how come? Why is the price of Doge, let’s say right now, I think it’s like 17 or 18 cents, but it’s got these billions of dollars in it. Why is it in the top 10 or whatever, where it is at Chip, where it is right now? How come it’s only this price, but this coin is this price is because of the circulate in supply right? Now. The thing is, when it comes to opportunities for new people, think about it.
If you would want to hold, you’d want to see thousands or millions of coins that you own instead of 0.000 of one of ’em, right? You get into a point like Shiba Eno, which is another meme coin, really. I mean technically it has somewhat of a use case. I mean, they’re using it for, it just has a new partnership with this gaming platform, and they do burn their tokens, which means let’s say their circling supply was in the trillions and they burn two to 3% of the time, which means the tokens are gone forever. So at least they have a deflationary effect that’s somewhat taken in. But do you know, if you put a thousand dollars into Sheeno in let’s say January 31st of this year, or even February 1st, do you know how much money you would have if you sold it near the top? If you put a thousand dollars,
Matthew Maschler:
How much
Keith:
Over a million?
Matthew Maschler:
Wow. But you’d have to know. You’d have to know it was the bottom. You’d have to know it was sold at the top.
Keith:
But the thing is, you had these memes, right? All the memes are coming out and all the dogs are coming out. I have a friend, he gets involved more in the defi sector. He goes into Unis Swap, and me personally, I like large caps. I like large caps. I like coins that have history. They’re easier to chart. It’s more conservative approach. I don’t leverage. I spot and swing. He does everything. And what he did was every doll coin that came out, he would throw a thousand dollars in, just throw a thousand dollars, and he ended up, by the time he was done selling, he had multimillions of dollars just from throwing a thousand dollars into the dog coins. He had about 27 rug poles where what they do is, let’s see, you put money in and it’s pumping. It’s pumping, it’s up a few thousand percent, everyone’s excited, and then the creators, they pull it on you and it dumps 99% and it’s done.
It’s dead, which is, it’s very common. But the thing is, is yeah, you have rug pulls, but you can have situations like these where you’re making all this money off these coins, and some of ’em have no use case. They really have no use case or the dead. I mean, once we go into a real bear market, which right now you can argue we’re on the cusp of a potential bear market, the way things are looking, it depends how you look at it. It’s still speculation of what’s going on. Once you go into bear, everything’s going to crash. Bitcoin, I wouldn’t be surprised. Bitcoin has a CME gap around $25,000 and C, I mean by the Chicago Mercantile Exchange, A CME. There’s a gap around 24 5, I believe, and it can go to that range, and then that could be the new bottom and they can go up.
And then if that happens, the all coins are done. It’s all done. You’re going to see an 80 to 90% crash easily across all the oil coins, and it’s not going to happen overnight. It’s going to be a bleed. It’s going to be at least a year minimum bleed where everything’s just going to crash. So you have all these investments, people lose their minds and they’re like, oh my God, what am I doing? I just lost all this money. And they have to wait and see how it plays out. But the thing is, this happened again, also the last cycle where people were investing in, they’re excited, they’re pumped up. I know people that were taking loans out Aing in the Bitcoin when it was at $15,000 in the last cycle and it crashed down to 3000. It lingered under $5,000 for quite a long time.
I mean, you’re talking like a good two year bear market. And even when it was going up, it would have its little rallies crash on down, have a rally crash on down. It really takes a mental effect on you. So in the long run though, if you were patient enough and you keep them buying the dips, you did pretty well. If right now, I mean there’s people up thousands of percent right now and they think it’s going to even a hundred thousand and they go into these higher levels because of all these different charts. Now,
Matthew Maschler:
If people are buying all these coins and they’re going up and up and up in value, what’s the end game? How do you cash out?
Keith:
Well, alright, so let’s say you’re on Coinbase Prep. Okay? So everyone has a different view of the endgame because if I wanted to, right now, for example, I have a bunch of Ethereum of Coinbase Pro. I can sell right now US dollar and I can pull it. And if I pay a wire fee of 25 bucks, I’ll have that money in a day. I’ll have thousands of dollars from a day just from selling Ethereum. I’m a Coinbase bro. Or if I can wait an extra two days, it’s a free transfer and it goes in. So if I want to sell, I can sell right now, no problem, no problem at all. But everyone has a different end game. I know people in Bitcoin, they will never sell. They believe Bitcoin’s going to go to a million dollars or more. They believe, especially after due to the scarcity of Bitcoin because there’ll never be more than 21 Bitcoin, that the stock to flow is going to push it to these higher and higher levels.
Some people, they get the cryptos, for example, with the game of tokens for the games. I mean, like I said, you have NFTs NFTs for example, but right now I wouldn’t get NFTs. You had JPEGs of a rock of a rock or if they had bored apes or all this stuff that were going for millions and millions of dollars. It’s just a jpeg of rock. But because it was part of a rare, almost like one of this rock for this non fungible token, people were buying in and a and in then now they want to sell it. They’re not going to get that same price for it. But at the time, it was worth a few million dollars of quote Ethereum. So when you get into what is the end game, everyone has different endgame. For me, my original end game was this. I wanted, especially when I learned how to trade, when I had my friend and his father who used to work on Wall Street, he was a big, once again, gold and silver bug.
He sold all his gold and silver in the Bitcoin and it’s paid off tremendously for ’em. And they taught me how to really trade, learn how to chart. I did a lot of my own research at learning about the different currencies and their capabilities. And with me, I said, I want to be debt free. I want to have my bachelor’s paid off. I don’t want to have a mortgage. It’s always things I wanted to do, I wanted to do. That was my main goal. It’s changed a little bit because the thing is I did pretty much everything that I wanted to do, but as for my mortgage, I got it. I refinanced to a 15 year and I could pay it off. Now, if I sold everything right now, I could pay it off, but I don’t want to because I believe we are going to higher levels.
It may not even be this year, it could be next year, but I believe we’re going to higher levels now. As for profit taking, yeah, I’ve been taking profit taking, I mean the standard of the Bitcoin chart has been my best guide. The profit taking, I’ve been going by the ratio. I mean right now it’s actually in my ratio over 0.08. That’s the ratio. I wanted to take more profit, more towards 0.85. But the problem is the price is under 4,100. The price was 4,700 like a week ago, and it had a lower ratio. So I was going by the ratio. I’m waiting for the boom up. I think that once the upgrade comes out for Ethereum, it should be next year, the 2.0 a full upgrade before, that’s going to be the time to really sell the bulk of my coins. What’s happening is like this, you have proof of work and proof of stake.
Bitcoin’s proof of work. You can mine, you mine Bitcoin, I’m sure you’ve heard of it, where people use, they use computers and they have, there’s all these mining stations like in Texas where they have, have you ever mined any Bitcoin? I have not. No. That’s one thing I never did, I never mined. Only thing I’ve ever done is I started off investing and then after, as I heard a trade and learning and going through all the mistakes has made me as a much more better, successful, profitable trader right now. But for proof of stake, you’re pretty much like I can lock up Ethereum. The goal for everyone originally was to have 32 Ethereum because that was the amount needed to be a validator for Ethereum, and if you lock it up, you couldn’t touch it until 2.0 was released. So there’s people a thousand thousand of Ethereum, I believe it started off between 15 and 17% rate.
Now it’s only around 5%. And what you do is you lock up the 32 coin minimum. Some exchanges it’s less because they hit you at a higher fee now. So what happens is you cannot get the rewards of the interest for locking it up over the time until the Ethereum goes from Ethereum, the Ethereum 2.0. So all these millions and millions of coins are locked up. What I did when I used to realized you had to lock it up, I put it on block fi, where block fi, I’m getting lifetime interest. So what happens is they have different tiers. Tiers have gone down with the coins right now you get, it was like four point a 5% for up to 1.5 Ethereum, 1% for that up to whatever it’s, I have to look at the rates, but when get certain rates, it really goes down to minimal if anything.
But the thing is, is what happens is I get rewards in Ethereum compounds every month, and then if I want to pull it off, I can pull it off and I can move it to an exchange to sell it. It’s not locked up. So the thing is, my speculation along with others that are heavily invested, especially into Ethereum, is hey, yeah, you’re going to have these ups and downs, but when this upgrade comes before it’s like a buy rumor sell news event. Once it comes, it’s probably going to drop really hard because people are going to be selling off like crazy. Because think about it, they’re going to be getting all these millions of tokens that are going to be released out that people get as their reward and they’ve been waiting years to do it and they’re going to sell it.
For example, when you had Doge, you remember when Elon Musk had this Saturday Night Live event? You remember when Devin was like, okay, doge, remember how it pumped? I know a 13-year-old that became a multimillionaire from Doge because he just liked the dog coin he was buying when it was under a penny, just buying the dog coin. Whatever money he got for his dad, his dad would just, okay, you want the dog coin. Doge went 20 cents, 30 cents, 50 cents. It kept on going. It was pure euphoria with Doge. It was going to the moon. Exactly. It’s going to the moon. And it went, it hit in the 70 cent range. And I’m on two discords and there was one person I was talking to and she’s like, Hey, when should I get out? I said, get up now. It’s going to crash. It’s a buy at a rumor, sell at a news event and oh, no, no, no, I think it’s going to a dollar.
It’s going to a dollar. Whatever you expect to happen in this space typically doesn’t happen. Just like everyone, Bitcoin is going to a hundred thousand dollars because of plan B. It’s stock to flow. Oh yeah, it’s going minimum 100,000. All this stuff for December. I don’t think it’s going there personally, just to me and you, but what you thing is going to happen doesn’t happen. Doge was in a 70 cent range midway through Saturday Night Live. It starts crashing and look at it now, it’s under 20 cents. So people are stuck in Doge. Unless you sold it for a loss, they’re losing their minds on it. And you have these situations where what you expect to happen doesn’t happen. This didn’t happen with card. Card had a huge upgrade, the Alonza Hart Fork, and I was loading up on Carano from under a dollar. I was loading up to actually a dollar 30 and I was telling whoever was following my trades.
I said, listen, just load up. But the thing is is once I start seeing warning signs, get rid of it, it’s going to come down. It’s going to come down hard. Okay. Yeah, it’s fine. And out of the five people that I was training with me, three less than two didn’t. Two are still stuck in card. Card went up to $3 range. I was selling from 2 68 to 3.05. I made multiples, multiple of thousands of dollars on the trade. And then right now it’s like a dollar $50, 60. So just once it came down, that was it. It was a bite of rumor, sell the news, same thing’s going to happen. What Ethereum, NFA, non-financial advice, just what I’m seeing. I think it’s going to pump. I can think we can easily see a $10,000 Ethereum minimum, especially with the ratio because if Bitcoin does hit a hundred thousand dollars, Ethereum easily should hit $10,000. I think that the 0.1 is a give me, it can double top even at the all time high, I believe at 1.47 of a Bitcoin and that may be it and may do a double top, come on down. But either way, I see it going and I’m going to be out before the upgrades out. I’m probably not going to have a single Ethereum left. I’m going to be out of Ethereum and just reap the benefits of it.
Matthew Maschler:
So personally, I’ve never owned a crypto currency, although I did with my son buy some of the dog coin going into that Elon Musk run up. I sold a bunch of it before he appeared on Saturday Night Live just because I thought it was complete nonsense, but I did have to buy some Ethereum because there was an n ft. I wanted to buy NFTI wanted to buy was a digital artwork or a digital souvenir that a wrestler I’m a fan of had created and I wanted to own it similar to owning a collectible, whether it was an action figure or an autographed picture. So I wanted to own this collectible. I still haven’t figured out how to get it, but I did have to buy some Ethereum because that was the currency that you have to use to spend to purchase these things. The price of the item went up before I was able to buy it, but the value of my Ethereum went up just not as high.
So I still find cryptocurrency to be a murky, confusing, it’s not like buying gold or silver or a stock because you have to learn all these new words and where to put it and how it works. But it’s a fascinating concept. And certainly if I was younger in my teen years and twenties, I learned real estate and certainly if it was my teen years, again, this is the stuff I would be learning. But I’m pretty happy with real estate and my real estate investing and I like talking to you and other crypto investors because I like to learn new things. And I appreciate you coming on the show. I do want to wrap it up because there was a lot of information here and a lot to unpack. So do you have any final thoughts before we go?
Keith:
Yeah. Well first I just want to thank you for having me on the show
Matthew Maschler:
And I want to thank you to reach out. It was nice to connect.
Keith:
Yeah, I mean this is big because the thing is, and I told you I’m a pretty private person. I don’t really use social media only Discord and the four other people I trade with, like I said, they’ve made millions and millions and millions of dollars from crypto. I have done very well at crypto. And if there’s ever a chance you wanted to do another cover for this, maybe go into more details. I mean, I wouldn’t even mind at some point if you want to do a live or I can chart and I can show you hands on. I mean, this is a lot I just went over. I just summarize stuff for you. With this limited time I can really get into, get technical, but understanding your audience may not be as in depth as I am. I mean, I have thousands and thousands of hours of trading this. I’m learning about the different cryptocurrencies, but if you ever want to expand off this, reach out. I’m all for it. I’ll make the time for it. Appreciate that. I think your podcast is great. And you know me, I’m a big wrestling fan. I like competing guys. I like doing the picks, but and the next time out in Florida, definitely I’ll reach out to you. We can meet up. Definitely.
Matthew Maschler:
Hundred percent. I look forward to it.
Keith:
Yeah. So thank you again. And I said reach out whenever you’re ready. I’m here.
Matthew Maschler:
And if you see Mitch, Tom, I said hello.
Keith:
I will. You got
Matthew Maschler:
It. Alright everybody, I hope you learned something and if you didn’t and you want to discuss it more just with me, give me a call or a text or shout or yell out the window. I need the real estate finder and this. It’s a wild, wild new world that we live in, but I think a lot of these technologies are really going to change how we do business going forward. Thank you. Thank you, Keith. And thank you everybody for listening.
Speaker 3:
The future looks bright and the storms pass by the sky’s dark blue When it’s almost that time, life shows cameras flash when I pass living in the moment, forget about the past. They save the best for last. Matthew Mania. We about to make a splash. Life is a marathon full of sharp turns. Got to keep pace while the hands on the five I run a show. You can tell the electricity energy if vibrate. I’m always on time, even come living life. Real clear view. Give a
Speaker 4:
Time. What? What? Its
Speaker 3:
Time. It’s time. What time it? Whose time? It’s, you know what time. Yeah. Got him shook, scared. Can’t look. We’re not afraid of the big bad wolf. First comes to.