Hearing Coinfessions

Poor Mike felt a bit down after the last time we spoke. Yes, the merge was a success, but the crypto market found its way back into the doldrums pretty quickly afterwards and looks like remaining there for quite some time to come. There are just too many factors weighing on all financial markets at this point in time and it’s hard not to feel a bit gloomy about it all.

 

So, this week, we thought we’d try something different and turn to that ever-reliable source of news, nonsense, time-wasting and procrastination: Twitter. If you want to keep tabs on what’s going on in crypto, you need to monitor crypto Twitter - or CT, if you’re into the whole brevity thing. CT is, in short, where it all goes down.

 

If you are going to immerse yourself in the world of CT, then Coinfessions (@coinfessions) is one account you need to follow. Billed as anonymous crypto confessions, it’s a place where people go to fess up to the crypto-related shenanigans they just have to get off their chests. 

 

Some of them make for uncomfortable reading, some are distressing, some are even uplifting. But, as entertaining and diverting as Coinfessions is, there are lessons to be learned from many of these tweets. So, let’s veer away from the horrors of global markets and dig into some confessions from the crypto space and see what they have to teach us.

 

We hope you enjoy the show.

 

Executive Producer for iHeartMedia: Noel Brown

Editor: Sam Moult

Theme music composed by: Noel Brown

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
The Coin Bureau podcast is a production of My Heart Radio.
I think it's really important for people to remember that
the really important things in life are things like you know,
our family, our friends. You know, crypto is amazing, but
it should it should never come before your family, before
your friends, before taking you know, the things that are

(00:20):
really important. Welcome to the Point Breo podcast. Everyone. My
name is Guy and I am joined as ever by
my faithful, long serving and long suffering friend, Mad Mike Mooch.

(00:45):
We are again recording remotely me from Dubai once more.
I'm I'm in London, Old gray London and you're in
in sunny Dubai. That's how you say of it. That's
how Terry Terry Tips said it. And that's how I
like to say. Did you blay Terry Terry Tip what

(01:11):
he was talking about? Um, you've had a busy week.
I have had a busy week, Yeah, I have. I was.
I had a busy weekend. Actually I was. I went
to a I went to an event, a Binance event
at the Birch as well, sort of looking onto the Burge.
And it was to celebrate Binance launching a regulated exchange

(01:35):
in and UM and it was. Yeah, it was. It
was pretty cool. There was a big old light show.
There was a swanky sort of meet and greet with
lots of important people there and well and some unimportant
people there as well, like myself, And it was it
was great. Met lots of interesting people and highlight of

(01:57):
the evening I got to not only meet but also
chat with c Z, the CEO of Finance or or
I think c Z as he's referred to in the unit,
none of this C pronunciation. Yeah, and yeah, obviously c
Z is Finance CEO, one of the most well known,

(02:18):
recognizable and let's let's not mince words, richest people in crypto.
And yeah, and then some and I have to say
he was lovely. He was a very nice chat very unassuming,
very modest, very down to earth. You know, there was
no there was no kind of a big dick billionaire

(02:40):
energy sort of coming off him. He just yeah, he
just seemed like a guy on a mission who was
very much enjoying himself. I think, yeah, wonderful. So yeah,
it was, it was really cool and I got to Yeah,
I sort of chatted with him a bit about Dubai
and about Binance obviously, and I also got to ask

(03:01):
him a bit about what it was like being him,
because this is something that's always, you know, I've always
wondered because I often think like being the CEO of
a crypto exchange must be one of the most like,
on the one hand, rewarding jobs in kind of every
sense of the word, and in the on the other hand,
stressful jobs of all time because there's just you know,

(03:22):
constantly stuff happening, stuff you having to deal with stuff.
And it's one of these things, isn't it. Like the bigger,
you know, the bigger the organization gets, the more the
more eyes, the more scrutiny. Yeah, and just the more
things to deal with, the more people wanting stuff, you know,
and it's um so, but I mean again, you know,
he seemed c Z seemed very sort of calm. He didn't,

(03:45):
you know, he didn't didn't seem like someone um who
was you know, sort of meeting dozens and dozens of
people a day and having to keep so many plates
spinning or balls in the air or whatever metaphor you
want to use. And yeah, it was great, and I mean,
he he had some interesting insights. He said, he's basically

(04:05):
he basically now practice sort of five minute meetings, which
was pretty good, you know, none of this sort of preamble,
let's just get it done, five minutes, right out the door,
off we go, next thing. Um. And he did reassure
me that he manages to chill as well, you know,
get some get some sort of time off. He's a billionaire,

(04:25):
of course he's of course he's manages the chill. Well, yeah,
you say that, but I mean again, I think he
doesn't have to come home and do the laundry, do
you know what I mean? He doesn't have to come
home and go, what am I going to cook? Oh? Yeah,
my cook will do that. I'm a billionaire. Um. And
he's just he's reduced all his meetings down to five minutes.

(04:48):
So it's kind of like I'm assuming that's in his
personal wife as well. So it's like, speak to his wife,
you've got five minutes. Five minutes just cuts her off, right,
that's it? Yeah, well, you're right, but I mean I
often think like that, the richer someone gets, the more
the more demands there are on their time. Surely, you know,

(05:09):
and I'm being silly obviously, but but no, I he yeah,
I think he I think you're right though, because at
some point you go hang on a sec I'm a billionaire.
I don't have to do I'm no, I'm going to
the beach or I'm taking the private buying a beach.

(05:31):
I'm gonna I'm gonna go and build a space rocket
for a little bit um, have you. That's why I
want to know how does he fritter his money? Because
how people spend their disposable income and and and you know,
waste it to to degree, there's always an indication of
the type of human being that they aren't, you know
what I mean? And I want to know what does

(05:53):
he do with you know, like, how does he enjoy
spending money? Or how does he what? What? What is
his outlook for it? Is he got you know? Does
he like to gamble? Is he like like does he
collect handbags? Is he a warhammer enthusiastic? I want to
know these things. And I don't think you ask those questions.

(06:14):
I didn't ask those questions. I didn't feel it was
the time of place to ask him if he was
a gambler or a collector of handbags. But do you
know what You're right? What are your ultramarine collections? Like
in Warhammer three thousand or whatever, we do you know
what like the worried, the worrying, That sort of situation
is that you ask someone a question like that, you know,

(06:35):
kind of tongue in cheek, and it then turns out
they're a massive Warhammer fan or something, and you get
stuck in the discussion. And I mean, I know I
know nothing about Warhammer. Do you know what my next
time I get the opportunity to speak to someone like that,
you know, to speak to someone at that kind of
level of wealth, which I hope I will. I will,
I will try and I will try and ask that

(06:57):
question in a in a slightly more nuanced way. You know,
how do you? How do you? Or what you could
do is just put them on the spot and just say, hey,
look I need a million dollars. I've got a very
very sick puppy and this he needs an operation that's
it's going to cost a million dollars? Can I can
I borrow that off you? In front of everyone who's

(07:20):
going to have like be like yeah, cool or no,
just just make This is why people don't ask me
to interview them. I think this is why you get
interviews with ces and I'm interviewing you basically, you've got
the You've just got the scraps from Caesar to table.

(07:40):
I don't get interview Caesar, but I did get to
speak the guy who has spoken to so I can
get it a second hand. Um. Yeah, yeah, no. But
perhaps you're just perhaps you're just too direct for your
own good Mike. You need nuances, you need to be
able to know they can't handle the scrutiny of my
of views. I asked the tough questions. You're the sort

(08:03):
of Jeremy Paxman of the space that's grand inquisitor um. Anyhow,
I was I was very conscious at the end of
last week's episode, Mikey, that I'd kind of bummed you
out a little bit with all my sort of talk
about post merge problems for Ethereum and the crypto market

(08:24):
in general and just the world in general. You were
I I felt by the end that I managed to
bleed a lot of the enthusiasm out of you. Well,
I've forgotten about it until you just brought it up
right now, So thanks again for bringing that darkness back
into my psyche. I'm just I'm relying on your goldfish

(08:46):
leg attentions man gotten in about five minutes time. Was
that my my, my, my acute a d h D.
What are you going to cheer me up with this week?
What we got? What we're talking about? Well, I we'd
I thought we'd take a little bit of a different
direction this week. Um, there is a Now, as as

(09:08):
I've said many times before, and I'm sure you're aware
as well, crypto Twitter is kind of is, you know,
is the big sort of meeting spot, towns Square or
whatever they call it for the crypto industry. And you
know this, it's it's kind of central to I guess
the agenda of the crypto industry in a way. You know,

(09:28):
if you want to if you want to have an
idea of what's going on in crypto, you need to
be on crypto Twitter. Okay. Now, the problem is that
there's kind of there's a there's a few problems with this. Basically. One,
crypto Twitter is like a lot of other places of Twitter,
it's uh, you know, it can be an absolute cess
pool sometimes people going out of their way to be

(09:51):
their very worst selves. So there is that, So there
is you know, that kind of downside to it. Although
it has to be said, there are lots of very
cool and you know, very smart, very opinionated people there,
but sometimes it does descend into a bit of a uh,
you know it all gets modest, Yeah, exactly. Yeah. And

(10:12):
of course Twitter itself, the app, I don't know. I
don't know if you find this in comedy Twitter or
whatever other sort of incarnations of Twitter that you're on. Um,
but the app itself is so full of bots and
spam at the moment that it can be it can
be almost unusable at times. I think this may be

(10:33):
a problem that's particularly acute to crypto. But I mean,
how do you find using Twitter these days? Um? Well,
I I no one, No one engages with me. It's
just like shouting into an empty room. Really, But I
think no, I think I think you're on on on
on on accounts such as yours, where there are people

(10:54):
who are looking to it all the time for you know,
for for update and news and stuff like that. You
are going to be targeted by the bots, which are
definitely only five and after Twitter and definitely not not
more than than that. Then then yeah, you're gonna you're

(11:14):
gonna get get stuff like that all the time. And
I suppose it's it's it's a testament to your success.
Really if you don't have a lot of bots after
you know, what is a crap about what you say?
That's that is the price of success. You can either
be you can either be ignored or you can just
be botted and spammed into into oblivion. That there there

(11:36):
is no middle ground. Yeah, um, you know, it's you're
you're you're right in in a lot of ways day,
you know. And and obviously it's anyone with anyone with
a sort of largest following on on Twitter, I think
probably experiences this in one way or another. But yeah,
crypto Twitter, I think is is can be particularly bad

(11:56):
from a sort of botting and spamming point of view,
obviously because of the associateations that the crypto industry has.
How I was going to ask you about I was
going to talk about the pound as well, but I
think I think we just better not go there, head
we It's just it's just we don't want to start
depressing ourselves again. But yes, so anyhow crypto Twitter. Now,

(12:17):
I follow obviously a lot of people on crypto Twitter,
a lot a lot of different accounts, but one of
my absolute favorites and one that I think one of
the few that I religiously look at every day is
one called coin fesshions um and it is, according to
its own bio, anonymous crypto confessions. And it's curated by

(12:38):
another account called illustrate Alpha, which is kind of trading
more of a kind of trading focused account. UM. So
for anyone interested at coin fessions is the handle of
this particular channel. Now it does very much what it
says on the tin anonymous crypto confessions. So this is
a place where people go and you know, they can

(12:59):
they confess, they talk about things, um that they talk
about their experiences in crypto that they wouldn't normally, you know,
they wouldn't share with the wider world. Um. And obviously,
as I say, they're anonymous as well, it's you might
be I don't know, you might be familiar. I think
there's a there's a sort of more mainstream one on
Twitter called the First Hole. Yeah, yes, yes, there's a

(13:23):
there's a few like that. There's there's First Hole. But yeah,
over two coin fashions. There's loads of these on the
on on the Internet, and some of them are hilarious.
I always wonder about the validity and the the you know,
the origin of these is it's one guy making these up.
Some of them are so detailed and it's so so
so niche that the kind of thing maybe maybe they

(13:46):
are maybe they are real. Yeah, yeah, it's it's an
interesting point because yeah, like I say, I I check
this account every day and obviously it pops up in
my feed all the time. But yeah, you do sometimes
think like that, can that really be true? Or is
that you know, is that someone is that somewhat sort
of just kind of saying what they think and all

(14:07):
this sort of stuff. But yeah, yeah, it's it's it's people,
It's it's why it's certainly moderated coin fessions. I think
probably things like fest hole and stuff are as well.
But yeah, I think the moderators of coin fessions seem
to have I think a pretty good eye for you know,
for for the for the fake stuff as well. But

(14:29):
that said, you know, I think we have to treat
everything that that we see on it with a with
a pinch of salt, if not more. But do you
know what, it's something that the reason I like it,
there are kind of a few reasons why I like it.
I mean, sometimes it's just outright funny. I have to
be honest with you. Sometimes it's just outright bleak as well.
Some of them are really you know, a bit a

(14:52):
bit distressing. But it's I find it a really kind
of helpful dose of reality sometimes, um, because I'm I
think I'm like most people in that when you know,
when you get stuck on Twitter and you just find
that time has evaporated and you've been on there an
hour or something and you only went on to check

(15:13):
and your sudden you suddenly just immersed yourself far too
much in this world. And I I find coin fessions
can sort of help drag you out of it sometimes,
and especially when you know it's perhaps most pertinent when
it is it is your knar can to to the
Twitter fent and all world. Yeah, exactly exactly. Um. So

(15:35):
I do find it a good sort of dose of reality.
It's it's particularly good when you know, when markets are pumping,
when everyone's you know, when there's too much kind of
irrational exuberance around, um, and everyone's kind of losing their
mind a little bit. The coin fessions is good for
kind of dragging you back to earth. But anyhow, like
I've been kind of. I was scrolling through it because

(15:55):
I thought we we could touch on some today, and
I thought, actually, some of these are I think there's
a lot that we can learn from them. I think
there's a few lessons that you can take from some
of these, and you know, as well as as well
as sort of a bit of comic relief in places. Um,
I think, I think, yeah, we can we can definitely

(16:16):
take some take some good els from some of these.
So I thought we'd just go through a few, um
and yeah, and see what see what we can learn?
What do you reckon? Yeah, okay, well let's do it.
I like, I like stories, and these are all little
mini um captions characters, characters, stories. Yeah, that the way

(16:42):
they do it, they do it with, they do it
with a sort of Obviously, the tweet itself is limited
in characters, so that tweets will generally be a little
you know, a summation is this longer than I'm out,
But they post them in a you know, in a
picture box, are written out in so but yeah, the

(17:02):
accompanying tweet is usually sort of a very pithy, you know,
a very pithy round up off the tweet itself. Anyhow,
I just sort of went back in went back in time,
starting with some of the most recent and then you know,
back to a few from earlier this year. UM and
I thought, we just go through and and and see
what see see what we can learn from them. So
this this is from one day ago. My body had

(17:25):
his entire wallet and n f T collection stolen via
a fraudulent minting contract. He was super downbeat as it
was a lot of money, and watched as the scamma
began listing his n f T s on marketplaces. Then
a creator of one of the n f T projects
he brought into purchased a bunch of the lost n
f T s and returned them to my friend, throwing

(17:46):
in an additional free one for good measure. It makes
me feel so much better about this space, knowing that
there are good people building and trying to do the
right things. That's That's a lovely story, man. Yeah, it's not.
This isn't it. There's a lot to take from that though.
I think there's there's there's a lot contained in that.
UM And I think, firstly, yeah, it's absolutely right. There

(18:08):
are I think I think there are the majority of
people in crypto are good intentions. They are there there
for the right reasons, and they want to make the
world a better place. And you know, people building these
n f T projects or these other crypto projects coins
or tokens or whatever it is. I think the majority
of them have have you know, are doing it for

(18:32):
doing it to do good. And unfortunately the fact that
there are bad actors out there tends to that obviously
tends to hog the headlines. So for me, it was
really nice to be reminded that there are good people
out there. Yeah, I mean it's yeah, it's like the
real world really, isn't it. It's just the real world.
It's just a it's just a a section cross cross

(18:55):
section of the real world. Um. And yeah, I'd like
to know who that guy was, who that that an
FT artist was, because I'd like to to go and
support them. Things like that are lovely and it's kind
of like it's like you get sort of Facebook pages
like that, the Dodo and stuff, and they just they
do nice things and you end up just crying into
your smartphone thinking about how lovely some people are. It's

(19:16):
like when you see those deaf kids, uh, and then
they they get a hearing it for the first time,
and and then they can start hearing and you see
their their eyes just light up and they know it's amazing, lovely, lovely. Now.
It is nice to be I think, because you look
at the news so much and you just see, I
don't know the news at the moment. The news all

(19:36):
the time just seems to be people being dicks to
each other in various inventive ways. And it is nice
to be reminded that there are good people in the
world and not everyone is not everyone is bad intentions,
it's just just people, and people in the news are um. Yeah,
and I think it does say it does have some
pertinent stuff to say, you know, to remind us about

(19:59):
just unfortunate really how many scams there are out there,
you know, and you know these scams are getting more
and more sophisticated, and even kind of experienced crypto users
are and sometimes even developers are getting almost caught out.
I saw I saw a really scary Twitter Twitter thread
a couple of weeks ago from a developer on a

(20:21):
crypto project, and they were basically targeted by scammers, and
they laid out in this thread, except the scammers whole
emm O and it was so sophisticated and so realistic.
And this this guy, as he was going along, you know,
just he just kind of spotted a couple of things
that weren't quite right. You know. I think there was

(20:44):
a spelling mistake in there somewhere, and there was something,
you know, something, there's something about the tone of one
of these people that said it was a really really
sophisticated attack. And this guy was this guy said, you know,
I only I only escaped it by the skin of
my tea. It was just because you know, there's this
couple of little errors went off and something didn't feel right.

(21:06):
It's good to be reminded firstly that there are good
people in the space who, you know, who want other
people to have a good experience and who want to
push back against these these scammers. And also it's it
serves as a good reminder that scam scammers are unfortunately
so prevalent at the moment, and the only way that
we can be um, the only way that we can

(21:26):
battle against them is by is by being wise to
what they're doing. And also, you know, the good people
sticking together as well. Yes, so I thought that was
that was a nice one to start off with, a
fairly kind of a fairly recent one. Let's go on,
and now we'll see a few through lines. I think
through some of these tweets as we go along, because

(21:46):
this one from a couple of days ago, or from
you know, a couple of days from when we're recording this.
Uh so, this one also involves n f T s.
Last year I made around one hundred thousand dollars just
by copying a well known influences and f T picks.
Bought my parents a new car, gave money to my brother,
helped friends make money the same way, brand new stuff

(22:09):
for myself, and made three n f T projects which
I've dumped around twenty dollars into. All of them failed miserably.
I have one left in my metal mask. Well, I mean,
look that, like, there's a lot to be learned from failure.

(22:30):
There's a lot to be learned from Look, he's still up.
He's he made a hundred thousand dollars and then he
you know, bought lovely things for himself and his family,
and you know, gave his brother some money in and
you know, his parents still have that car. And he's
gambled again. Or or invested and taken another risk on

(22:53):
some projects. And you know, he's not lost anything. He's
up still. But and he's also got the experience of Okay, cool, Well,
I've I've got burnt with with some some projects that
have failed measurably. But I'm sure you've learned some lessons
from well, I hope you've learned some lessons from from

(23:14):
investing twenty thousand into into those n f T projects.
And you know, maybe that maybe that you know we're
in we're in a slump at the moment. Maybe if
if you if you hold onto them, and I don't
know what those projects are when when when the markets
pick up, and if the idea was good, then then
it may become good in the end, you know, you
never know. Yeah, yeah, be positive about it. Gained some

(23:36):
insights from from from your mistakes and that and then
therefore don't make those mistakes again. And it's not a mistake,
it's a lesson, Yeah, absolutely absolutely, And you know everyone
makes mistakes, but it's it's the people who it's the
people who make the same mistakes over and over are
the ones, you know, they're they're the idiots out there,
I think, Yeah, this guy, this guy or whoever it is,

(23:58):
has done, has done really well. They're they're definitely still up,
and I think really for them it's perhaps a question
of learning to quit whilst they're ahead, which I think
is something that many many people in crypto and elsewhere
really struggle with. I think because going through a lot
of these looking at a lot of these tweets, it's
always staggering some you know, some people it's like I

(24:22):
was up this much, or you know, I I got
to this much, and they just never you know, so
many people never take never get off the ride, never
take profits, um never quit while they're ahead. So I
think that's a that's a good lesson to learn from
that sort of tweet. You know, when you're up, you're up.
Don't be as as the saying goes, no one ever

(24:43):
went broke taking profits um so. And I think as well,
like there is that sense, you know, I think, but
where the sense of oh that was pretty easy, you know,
I'll give it a go. It's like I think you
need to. I think you sometimes need to know your
limitations as well, be like, Okay, I got lucky on this.
This well known influencer who's n f T picks. They

(25:05):
you know, they followed. It's like, okay, we've got to
we've got to admit to ourselves that there was luck
involved here, perhaps as much as anything else. Don't let's
fool ourselves that we can somehow necessarily recreate that. You know, again,
quit while quit while we're ahead. Yeah, I mean, but
it's easier said than done. I mean, like when when

(25:29):
you've got that that that that sort of adrenalinine Russ,
You're like, oh, wicked I am. You know what, I
probably should have been a trader. You know, you've made too,
You've got lucky you go, you know, I'm really good
at this. I probably you know what if I I
just you know, watch Full Wall Street one more time
and figure out what penny stocks are all about. I've

(25:52):
got this absolutely And it's it's funny you say that,
because that sort of leads on to the to the
to the next tweet that I doubt. And again, this
is something that comes up a lot on this channel.
Quote I'm a terrible trader, just really really bad book folks.
If you're if you're listening to this, that is this

(26:13):
is probably one of the most important lessons you can
learn in crypto. I think it's like, do not convince
yourself that you are a good trader, because the chances
are that you're not. It's um yeah, and again there
are so many tweets across coin fessions. You know, it's like,

(26:33):
realize what a bad trader I am or you know,
trading I try to trade X y Z and ended
up with diddlie squad, you know. Um. And it reminds
me of something that's often attributed to Socrates along the
lines of, you know, true wisdom only comes when you
admit how little you actually know. Um. And yeah, I

(26:57):
think I think if you can come to that realization
that you probably aren't the hotshot trader that you might
think you are, your life will be immeasurably better. Um.
Because from what I've seen of trading, you know, it
is it is so damn hard. And the good traders
out there that there they aren't There aren't many of them, um,

(27:20):
but they do exist. But you know, the really good
ones out there, they have to it's their whole lives.
I think, you know, they have to spend their their
whole life. That's what I was gonna say. It's kind
of it's it's one of these things like if you think, right,
I'm going to be a trader and you see someone
on Instagram telling you how it's going to be amazing
you do this, and and they're living the life, and

(27:43):
you know they're they've got they've got the flashy cars
and they're out in the clubs and stuff like that,
they're not a trader. Like to be really good at something,
you have to do a lot of work and a
lot of practice to really understand it. And if you
really don't understand what a candle is and you think
you're a good trader, you're you're not. And you have
to like live and breathe it. And you know you

(28:07):
may be on your on your on your exchange Apple
or checking with the markets every three or four minutes,
but that's also not a trader. Like someone who is
a trader is they've got screens up there stressing about it.
They're they're they're they're thinking about what else could be
influencing the market. Their second guessing people like the mind,

(28:29):
the hive mind, and that is it's it's impossible to
do like and even if you do all of that
and you are, you're living and breathing it. Something can
come around out of nowhere and just completely nut make
you and you're you're done. Yeah, And of course you know,
no one can, No one can predict the future. There
is no no amount of technical analysis or you know,

(28:52):
any other sort of any other sort of macro analysis.
You know, you can be you can read everything and
make us look at as many models and charts as
you like, but you won't see the thing that's you
won't spot the unexpected, the bolt from the blue, because
no one does. So yeah, you're absolutely right. And I
think I think one of the reasons why, you know,

(29:13):
trading has become it's such a kind of popular thing.
And this isn't just this isn't just the case with
crypto as well. You know there are people say trading
stocks and trading currencies and all this sort of stuff,
you know, fear occurrencies. I think the perception has been
for a lot of people that trading is kind of, oh,
an easy way to make money. It's like, oh, yeah, yeah,
you know, you just buy. You just buy when it's low, right,

(29:37):
and then when it goes up, yeah, that's when you sell.
And that I can do that. I was I've got
it wrong. I was doing it the other way around.
Ah well okay, well you know you're you're already you're
already on your way to becoming a better trader after that.
See now I know now I've got the knowledge. Yeah, yeah,

(29:58):
there's no stopping you now. But yeah, I think for
a lot of people it was it kind of perceived
as an easy way of making money. And yeah, it's
really not like the good traders out there, they you know,
they are kind of they're switched onto a twenty four seven.
It's it's relentless. It's not something that I could do.

(30:20):
It's not something I would want to do. Really, you know,
it doesn't it's not nearly as fun as it sounds.
I think like that, and I think even the really
something but to to to them, to the ones who
live and breathe it, it probably is. Yeah, that's true,
do you know what I mean? So like that, like
and if that's what you enjoy and you you you

(30:42):
get the bug with it, and it's like wicked cool
if you're having fun while you're doing it, if it's
all encompassing, and you know, it's it's kind of like
what you wake up you want to do as long
as you know you're you're, you're not ruining your life
by loosening everything you've got, and you're you're, you're, you're,
you're doing it within your mean and and you know,
making good trades and learning from bad ones. Go for it.

(31:04):
But it's not fun to to a lot of people
like looking at them. It's boring. It's I understand that
if if I understood it, and I understood the game,
maybe i'd be into it. But even getting to understand
the game is too far out of my sort of
attention span that I know, right, cool, Yeah, leave it,

(31:27):
just copy copy someone else, yeah, or or do something
that that's not trading. Yeah, it's um. I think that.
I mean, there's a good rule for life, isn't there.
It's that I think at some point in our lives
we all come to the realization that we are cramped
at something probably most things, let's face it. And I think,

(31:50):
you know, as we both as we both hurtle towards
forty years old, you know, I think that's certainly going
to increase. You know, you're only going to become aware
of how crap you are more and more things. And
I think for me it's I find that quite liberating
in a way, because it doesn't mean that you can't
necessarily enjoy something. You can still be crap at it

(32:11):
and enjoy something. But I think, I think having that
realization that you are indeed crap at it, I think
that's an important stage for anyone to go through. And
I mean it's something that I've been self self awareness
is is a really really important trait to develop, because
if you if you are living your life thinking you're

(32:33):
something you're not, it's it's just setting yourself up for failure.
And people are people are aware. You may not be,
but other people will be, and eventually they'll tell you
if you're lucky, if you're lucky, yeah, yeah, Otherwise they'll
just let you blunder on. I I came to the
realization two or three years ago that I was really

(32:56):
not very good at poker at all, you know, but
I enjoy playing it and I occasionally have a bit
of luck, but I'm really I'm I'm not good at
the game. I don't have the skill for it. And
I was thinking, you know, I wish, I wish someone
had told me that, And then of course I realized
that I had been told that because people were always
quite willing to play poker with me, and I was like,

(33:20):
I'll play with you, guy. We could we could play.
We could play right now if you like, guy, people
are telling you, you're just not listening. You're not hearing
the message. It may not be telegraphed to you with
you are terrible at poker, but it's like, hey, should
we play for something a little bit? Should we make
this a little bit more interesting? This this this week? Guy?

(33:40):
Should we should we up the anti Yeah? Um, yeah, no,
it's true, but yeah, anyhow, going back to the tweet, Yeah,
I'm a terrible I'm a terrible trader, just really really bad.
There is there is an instructive one for sure. And
again like there are so many coins, fashion and entries
like that, you know, just on the theme of how

(34:03):
bad most people are at trading. So bear that in mind, folks,
come to that real Once you come to that realization,
your life will probably be better. Um. Anyway, Mike, should
we take a quick break so as we can, you know, heart,
just just take ownership of that new new found self

(34:24):
awareness of our sounds good. See in a minute and
we are back for part two of the Coin Bureau podcast. Guy,

(34:50):
how is your break? It was lovely? Actually, it was lovely.
I yeah, I had some. I had some delicious fizzy
water and stretch my legs and I feel great. Let's
get back into these tweets because I've had a little
read of some of the next ones and they are
a bit they're a bit more wild, to say the least. Yeah,

(35:11):
this one's from about a week ago. Um, really short
quote stink took my dad's savings and blew his retirement
on a ship coin. Yeah, yeah, Jesus, that's what I
I hope this one is not true because one, how
did you get your dad's savings? Because that's I'm pretty

(35:31):
sure if if he wasn't aware, that's a crime. And
to on a ship coin, like if if you're this
is this can't be real. I hope it's not real.
If it's real, he's in real trouble. But yeah, all
on one shitcoin. Come on, I mean, this is this
is what ten eleven words or something, and there is

(35:52):
just there is so much in it because yeah, like
took so I mean does that mean did you did
you steal them? Did your dad give you to them? Um,
my dad's savings. Yeah, and and then blew his retirement
on a ship coin once, so that one ship coin,

(36:13):
so it didn't even diversify, it was just one ship coin. Um. Yeah, gosh,
it's it's hard reading. I mean again, I hope this
is I hope to I hope to God this is
a fake one. But I mean again, there are so
many like this on coin fessions. Um that there must be,

(36:34):
you know, I think there is is truth to a
lot of them. Now, I think this tells us this
kind of treads over a lot of the a lot
of the lessons that we've talked about over the course
of these podcasts seven years that you know, don't invest
more than you can afford to lose, don't invest in
ship coins, diversify your portfolio and stuff. But I think

(36:55):
he's study for his money before you take it. Yeah,
or I think I think it goes even deeper than that,
really might I think, you know, it's like, for God's sake,
only invest your own money, like, don't go investing other people's.
It's that is that And this again, this is a
rule for life. You know, this is something that doesn't
just apply to crypto. You know, if if someone wants

(37:18):
to invest their money. If someone wants to invest their
money in crypto, you know whatever, crypto, maybe that is
their decision, but they have to do it. Like, honestly,
I don't think any good ever comes from investing other
people's money for them, whether it's your family, whether it's
your friends. You know, you're just yeah, you're setting yourself

(37:41):
up for fall. And when that money is their nest egg,
you know. And again there are so many tweets like this.
You know, it's like people putting their savings in or
their college funds or their nest eggs. But it's you know,
that's bad enough, But when it's someone else's savings, college
funds or nest eggs, that is yeah, that is just no. Yeah,

(38:03):
I don't think that one's true. I think I think
if if you if you did something unless that unless
that that person is just an absolute horror of a kid,
you know what I mean, like it it wouldn't be
so if you've done something so horrific, you wouldn't be
so blase about it. You'd be you'd be you have
to be remorseful. Interesting. Interesting, I mean, yeah, if that

(38:26):
kind of assumes that they took the money you know
that they took it without permission. I mean they could
be well intentioned, but just a complete idiot. Do you
think this this one is from the same person who
was I'm a terrible trader, just really, really bad. Do
you think it's the same person. It's just just a
flow of conscious on on on a coin fession, I

(38:49):
feel I should clarify my earlier tweet. Yeah, Dad, I'm
I'm a terrible trader. So what do you mean, son?
What do you mean you're a terrible trader? What does
that mean? Let's go, let's something something nice, something a
good one. You really a nice one? All right? Okay,

(39:11):
well this is one from from middle of September. Now,
this I think is almost certainly true. In I bought
over five hundred Bitcoin to buy multiple types of drugs
on the dark web. Now that is that is true
for well, for a number of reasons, Mikey, I can

(39:33):
see that face you're making. Is let's let's just let's
just quickly clear it up before we go any further.
Is this you No, No, I was buying drugs the
old school way in two fifteen. It was a bit
later on that I didn't. I didn't I didn't. Yeah,

(39:54):
and it wasn't if I don't, I don't think I
ever bought something like five hundred. I think I got
in just before that two thousand seventeen sort of spike
or as it sort of spike. But yeah, it's a
it's a story that resonates with a lot of people.
I'm sure this and they've gone, well, that was probably
the most expensive whatever line joint pill that you've ever taken,

(40:20):
because if you just kept onto these, but you know,
that's that's life, you know, that is I guess. Yeah,
And again it throws up some interesting things because yeah,
I mean, firstly, so many people I've spoken to who
were early to crypto, this is a recurring theme. It's like,
so what did you you know, do you still have it?

(40:41):
It's like, no, guy, I spent it on Silk Road,
you know, that's that's why I got it. UM, just
just to you know, just in case anyone was wondering.
As we record this, bitcoin is kind of hovering around
the twenty k mark, so that is ten million dollars
at today's prices. UM. But it doesn't an interesting point
as well, and this is something we touched on when

(41:03):
we talked about the early days of bitcoin. You know,
I think that it underlines the importance of the dark web,
of sites like Silk Road for for bitcoin, because you know,
for the adoption of bitcoin, because I think there's a
strong case to be made the bitcoin probably wouldn't have
made it this far if it hadn't been for the

(41:27):
dark Web, it hadn't been for people, you know, getting
it in order to get their hands on some some
drugs I or or let's face it, you know, not
just drugs, all the other kind of um uh, naughty things,
legal naughty things that you could buy and probably can
still buy on the dark web. So it's it's a

(41:49):
kind of it's a little bit of an uncomfortable part
of bitcoin's history, isn't it, Because obviously since then it
has evolved into so much more. But there's kind of
no getting away from the fact that for a time
there wasn't really much use for it other than to
buy weed on the dark And yeah, I mean it's yes,

(42:11):
it's it's a it's and the fact that people had
such vast quantities of it and we're just so frivolous
with it, obviously not knowing what lies around the corner.
Not predicting the future and going okay, called five hundred bitcoin,
Like I can buy a pizza with that, or I

(42:31):
can I can get some man in in in some
unknown location to post me some hash. Yeah, or if
I sit on it for ten years, I could buy
a small island yeah, on my own hash have all that,
just call it hash island. Yeah. Yeah, It's one of

(42:54):
these things, isn't it. It's kind of it's silly to
look back in that way because obviously if we could
predict the future like that, then we'd all be fantastically rich.
But it's I just find it so interesting, you know,
it says so much about how far this industry has come,
and you know, it's origins and things like that that
we have to you know, we have to accept it.

(43:16):
It's it can be it can be a bit uncomfortable
for some people that this is kind of how it started,
or not how it started, but how it survived during
a difficult it was it was it was possibly a
catalyst for it sort of being more widely adopted amongst
people who probably aren't investing in it just for the technology. Yeah.

(43:37):
I also want to raise a point on this, and
as someone who basically got into crypto in a similar way. Um,
it's also but who has also been on a journey
and understanding a lot more and doing these podcasts with
yourself and and understanding the community, the history, the stories
about it. It's also it's this this kind of resonates

(44:00):
with a lot of the people who, um, we're mining
stuff originally, like where you could go to a page
and it would just give you some is the whole
point of it is getting is the mass adoption of it.
It is getting it used, it is funding sort of
uh making it's it's basically you know, it's the catalyst

(44:24):
for that economy of it. Getting it used, getting it adopted,
getting it moving is what is important. And if everyone
went back and bought bitcoin and just sat on it,
it wouldn't be the same. It wouldn't be the same.
People wouldn't want it. If you were If everyone went
back in time to two thousand and twelve or two
thousand and thirteen, bought a lot of bitcoin, sat on it,

(44:45):
it probably wouldn't get to the heights that it is
today because no one is using and it it wouldn't
be what it is today. You're absolutely right, Yeah, you're
absolutely right. It's yeah. If people are just if people
are just sort of brought it to to speculate, then
it would just, yeah, it wouldn't have been worth anything.
It had to be proved to be yet, to have
some to have some worth, to have some utility in

(45:07):
the first place. So yeah, you're absolutely right, You're absolutely right.
It's um, it's that's just that's just how it got
out into the world. Um. Okay, let's let's move on
this one from early September. This was an interesting one.
I thought. I am a twenty year old Nigerian made
close to two hundred and fifty thousand dollars this bull

(45:28):
Run invested two hundred thousand dollars in real estate and
parents business have forty k left over for the next
build of bull Run. Feels good. Um, I wish I'd
taken a leaf out of this dud's book and and
sort of got out but and and and sort of
just put back in what I originally had. But you

(45:50):
know what, different people have different sort of outlooks on it. Yeah,
is smart, he's happy, he's playing it sensibly. Yeah, well done.
I think we yeah, absolutely, I think we've we've all
got something to learn there from him. You know, don't
be afraid to take profits. Also, don't be afraid to
diversify as well. You know, a good investor has a

(46:13):
has a diverse portfolio of assets because you never quite
know what's around the corner. Um, I hope this is
the other the other guy's brother, you know, the one
who took all his dad's money and put it into
a ship coin. And this guy made two hldred fifty
k on the ball round invested two hundred into real
estates and his parents business. Sort of like there's the

(46:35):
two brothers, the two Nigerian brothers. One who's just the
absolute black sheep, like crazy one who does all the
bad stuff, and then this one who's constantly bailing his
brother out of out of trouble. And at least the
parents and the dad is like, wow, it's it's all right.
And I like that. I like the idea that the
dad is completely oblivious. I My sons are both great.

(47:01):
You know, my retirement money is still there. They could
have so easily taken it and loan it. Um. I
just wish they'd give me some back every now and again.
Extra fact they've both been just was taking in and
out of his account all the time. Um yeah, I
also much, but I I much prefer the idea. I
like this guy for kind of investing in his parents business.

(47:23):
You know. So so many of the tweets that you
see on crypto Twitter, they can be they can be
quite self serving a lot of the time. It's like, oh,
you know, I'm so I'm so blessed and so grateful
that i got into crypto because I was able to
give you know, people this or give people that. It's
I yeah, okay, you know that that's that's well intentioned.
But I I just admire the chap of this guy.

(47:45):
It's like the cut of this guy's jib. You know,
it's now, I'm going to invest in my parents business.
I want to I want to cut well, I mean,
it all obviously depends on what business his parents are in.
It Like, if if they are gangsters or human traffickers
or something like that, then that's probably a bit frowned upon.
But if it's a mom and pop shop and it's

(48:07):
something like that, that's great. So it's always worth qualifying.
Let's find out what their parents business is, because if
it's you know, if it's a you know, something text
is everything my day. My dad was wandering around with
an old sawn off shotgun. Now I've got him a
couple of nineties, he's stable. Um yeah, let's hope it was.

(48:31):
Let's hope it was a lovely, legitimate I'm sorry it
wasn't like he seems like a well, uh, that's that's
a lovely thing to do that, like you you've got
to blame the parents or you know, give reward and
praise to their parents when he's obviously been raised. Well yeah, yeah,

(48:52):
just a shame his brother was such a terrible treating.
Oh that's what I put. I put fifty k into
crypto back in two thousand and seventeen, and now I'm
at near zero. I could have bought a house for
my mom. Instead, I bought coins like Jezy new it's

(49:13):
really the dumbest timeline. Ah, just coin earlier, didn't you
it's um yeah, I didn't realize it was a real thing.
I didn't know ju was a thing. I was. I
was just being stupid, but not as stupid as this guy.
But hey, look take take the lesson. He's lost it.

(49:34):
I was going to say, easy come, easy go, but
like it's not like the other guy who managed to yeah,
well yeah, yeah, fifty fifty k as well back in seventeen,
assuming that was it's you know, assuming that was while
it was before it really went crazy in that year.
You know that could have yeah even if it was
even if it did really go crazy. You know that

(49:55):
the highs of bitcoin in twenty seventeen was ninet, wasn't it,
And then now it was better. Now it's back when
it's gone back there, back where it was doing. Like, yeah,
see if you can see if you can get that
up on the chart. Yeah, it's it's funny as well

(50:15):
because you think, wow, you have fifty k back then
to put into it. It's uh yeah, I mean he's
obviously not a very good trader. How did he end
up with all this money in the first place. That
is something that always baffles me as well when you hear,
especially when you hear some real idiot who lost all
this money, It's like, what did you get all that

(50:35):
money in the first place? Why? Why has so many
really really rich people so damn stupid. It's, um, it's weird,
but I think it was. There's a there's an old saying,
if you want to know what God thinks of money,
Look at the people he gives it to. Um Anyhow, anyhow,

(50:59):
just before take another break, this one from mid August.
I invested slowly into crypto since followed the Hoddle mentra
and convinced my wife to buy a little I don't
like well the way this is going. Over time she
got five and some small things that turned into large things.
I made over two one and fritted it to nothing.

(51:21):
Trading n f t s and microcaps. I have nothing.
My wife has five. She has never sold slash traders
at all and has outperformed me significantly. Wow. Well, what
is a microcap? First of all, it's I mean, it's
kind of it's a slightly more charitable term for a

(51:42):
ship coin. Well not necessarily, like you an all coin,
an all coin with a very low market cap, and
obviously that is where you can that is where you
can find the you know, the really big returns because
they've got all this potential upside. But it also makes
them way more volatile, and you know, sometimes the fact

(52:03):
that they have a low market cap that's for a
very good reason, because they're a ship coin. But I
don't know, it's yeah, microcapital coins it can be it
can be feast, or it can be famine, and it's
more often famine, I think. But I do like the
I do like the fact that his his eminently sensible

(52:24):
wife has just gone Nope, Nope, I am going to
stick with that, and yeah, she's she's she's come out
on top. I think. I think the thing the lesson
that we can take from that is, if you know,
once you've once you've realized, once you come to the
realization that you're a bad trader, just just do nothing.
You know, sometimes nothing is the absolute best thing that

(52:47):
you can do. Yeah, yeah, it's it's it's easier to
just sort of let it happen slowly. Yeah, easier to
just sit on your ass something that's lazy trader. Yeah.
Something that I think has been a guiding principle throughout
much of your life is that, yes, well, when when

(53:07):
it comes to crypto, for sure, I don't have time.
I do have time, I don't have Yeah, I just
it's not my life. So it's something I dip into
and it's cool, but it's not I didn't know what
a microcap was, you know what I mean. I mean,
this is only like what the FOURTI episode of this podcast.

(53:29):
But you're not the first and you're not the last
is going to try and make me learn. There's dozens
of retired, mentally mentally broken better better teachers have tried.
They've all failed. It's too late. Okay, let's take one

(53:51):
more break and then and then finish off with a
few more Hello, everyone, welcome back to part three of

(54:11):
this episode of the coin Bureau podcast, when we are
digging into the coin fashions twitter handle on crypto Twitter
one of the most informative and also yeah, just downright
strange places on all the internet. Um, so yeah, let's
have let's just have a look. We've got time just

(54:32):
to have a look at a few more of these
tweets and just kind of see what we can see,
what lessons we can extract from them. Um. This one
from the fourteenth of August two. I won a fifty
dollar bet with a random guy online over some sports match.
He sent me instructions on how to claim the money.

(54:53):
They were weird and confusing, and I don't I didn't
know why he couldn't do something else to pay, thinking
it was either a scam where he is broke. I
let it go. It wasn't un till it came to
mind in that I realized he was trying to pay
with bitcoin. I do, I do remember one of the things,
one of the when I first discovered did you not

(55:15):
get that money? Then? Yeah? Yeah, that would that that
fifty dollars would would never have appeared. Having said that,
you know, I mean this is that the price of
bitcoin I think was very early. It is early, but
I mean fifty dollars would you know? It would it
would equate to a nice return. Now it's not quite

(55:36):
as bad as you know, someone sort of turning down
ten million dollars. It's nothing close to that. How much
was it in two as I recall, it was in
the kind of hundreds of dollars by that point. So
I mean we're still talking, you know, we're still talking
an absolutely insane return, but it's it's not quite you know,

(55:59):
it's not like, oh, if only I claimed that fifty dollars,
I can now be living on my own island made
of gold. But yeah, what what strikes what what stands
out to me about it is I remember from you know,
from getting into bitcoin when I did, which was kind
of around kind of late, and there there was, and

(56:23):
I think for a lot of people there still does
exist this kind of you know, it's it is weird
and confusing. You're like, what what's this? What's this QR
code business? Like what? Hang on, what's what's this address
that I have descended to? You know what what what's
what's going on with us? Exactly? Um So back into
the I I have sympathy for this person. I think
probably you know they they I think they could be

(56:48):
forgiven for that. It's like, well, hang on a seg
kind of open a bullet, what's bitcorn? Well, bitcoin actually
had quite a big jet like it went for rom
in January. It was twenty dollars first of Joan two,
and then around November December was that classic Christmas pump.

(57:10):
It went up to ninety two. So you know, if
if it was sort of January February, there's a couple
of bit coin, Yeah, not bad but not bad. Yeah
that's true, that's true. Um, but yeah, it's it's one
of the It's another one of those that kind of
dwells on the past, doesn't it. It's sort of only

(57:32):
i'd if only we've known, It's like, well we didn't,
but yeah, it's it does kind of bring to mind
the fact that and this is kind of one of
the reasons why why I do what I do and
why we're doing this podcast is to try and try
and demystify it a little bit, try and put it
in some contexts as people can understand it, so as

(57:52):
you know, when there isn't that kind of there isn't
that kind of uh, you know, people don't get worried
and confused when you talk about it. Um. And hopefully
we can we can save people from similar faiths. Um.
That's what weird to do. Of course, do you want
to read out the next one? Sure, I worked from

(58:14):
a major newspaper company, and I've written several anti crypto articles,
two of which have gotten major attention and clicks. I
actually own a good stack of bitcoin five figs. I've
got to get the bag somehow. Well, you are a
fudd dealer, and well, look, listen, a lot of journalism

(58:34):
these days is is kind of all just about getting
clicks as opposed to uh, investigative investigative journalism or anything
like that. You know, it's it's uh, it's a it's
a bit of a what was that there was that
there's a Netflix documentary about some investigative journalism. Yeah, about

(58:54):
a judge and um uh and and a lawyer and
basically there there was a judges generally, Um, there was
there was some some some some math numbers that didn't
sort of stuck up. The judges usually give sort of

(59:17):
like judgments in some cases or or grant things for
percent to and that was generally the overall sort of
figure on it. An investigative journalists saw that one judge
was his his figures were at ninety nine. Uh and um,

(59:38):
they undercovered uncovered that the there was a lawyer and
a judge who was basically in cahoots and they were
sending people to to prison or something like that. There
was like five hundred million dollar sort of scandal. Yeah,

(59:59):
but there was. It's just, you know, investigative journalism like
that is is kind of a lot more rare these days,
and it's all just sort of selling adverts and getting
clicks and it's no real news, a lack of Yeah.
I do hear a lot of stories from from inside

(01:00:20):
the kind of journalism industry, you know, the news industry,
if if you like. And I think there are a
lot of you know, a lot of journalists who are
kind of quite depressed about it really, because you know,
your success is now measured in clicks. You know, it's
not about it's not about writing a brilliantly researched and

(01:00:41):
brilliantly you know, put together, brilliantly argued article anymore. It's
about you know, who gets the most cliques, and that
swiftly becomes a race to the boss. You know, it's
it's it's a pretty swift descent from from trying to
write something really well to just basically clickbait. Um. Yeah,
And I think you know, crypto in crypto in the media,

(01:01:03):
crypto in the kind of mainstream media has been a
kind of easy target in this respect because I think,
you know, the word crypto or the word bitcoin or
something in the headline is automatic clickbait for a lot
of people. And I think that the media has made
a lot of money really and got a lot of
got a lot of engagement by you know, by writing

(01:01:25):
these kind of articles about crypto and generally sort of
going to town on it. Some of them are some
of them are fair criticisms, but a lot of them aren't,
and a lot of them, you know, just keep kind
of peddling the same old line and it gets pretty tired.
But obviously it's still drives. It still drives traffic and
clicks and stuff, so it stays in. Um, so yeah,

(01:01:46):
I guess you know, anyone anyone reading that tweet should
know that. You know, if you read something in the
mainstream media, it's not necessarily it's not necessarily true. And
of course the journalists behind it could just be writing
it for clicks and and be sitting on a nice,
nice bag of bitcoin. Yeah. Um, do you want to

(01:02:07):
read the next one? Sure? So this is from thirty July.
I bought the top of a ship coin and tweeted
about it. I got a lot of love from the
community and continued to buy the countless dips along the way,
But after being down over of my investment, I started
questioning the depths and was labeled as a paid fudder
and was bullied to the point of depression by the

(01:02:28):
same people that I thought was my crypto family. I
will never be a part of a crypto cult ever. Again.
That is yeah, yeah, yeah, you shouldn't. You shouldn't buy
into the hype, and it's easy to do that, and
it's easy to get caught up in it. And these
people who are just on Twitter may not be they
may not have your best interests at heart. They may

(01:02:50):
just be uh, you know, aiding the pump. Yeah, because
the crypto communities are amazing things because they support the
support they give to projects is incredible and can really
help carry that project along and develop it and get
the word out of about it and stuff. But on
the other hand, they can be absolutely terrible as well,

(01:03:11):
and they're never worse when you know, they're just communities
of hills, you know, paid sometimes paid chills, but sometimes not,
you know, sometimes just people who've got money and I
and want to pump the price up. And yeah, these
you know, you get these, these these Twitter accounts and
these all all over social media and it just becomes

(01:03:31):
infested with these with these kind of pump and dump
groups and yeah, people who won't listen to reason. It's important,
like you always say, do your own research, but it's
also really important to try, like because you can find
whatever answers you want to find on the internet. If
I want to go and say Guide Turner is actually

(01:03:53):
a lizard person, I'm sure I can find somewhere on
the internet. Which will reinforce that like possibly true statement.
So like do your own research, but do the research
that is kind of you know, it's it's it's you know,
it's fair, but look at it. Don't just block out
stuff that you don't want to hear. Sometimes you're gonna
need to hear. Okay, cool, this isn't good. I should

(01:04:16):
talk maybe question the sources and what I'm listening to here,
and be a bit more cautious and a bit more traded,
a little bit more carefully, and you'll avoid getting getting burnt. Yeah,
confirmation bias they call it. You know, when you when
you're when you're trying, you're trying to find something, and
you know, you just you just filter out the stuff
that that you want to hear. Yeah, exactly. And when

(01:04:39):
it comes to when it comes to crypto and stuff,
if you're ever if you're ever invested or you know,
if you're ever thinking of investing in something or whatever
and you have questions about it, if you go to
if you go onto Twitter or or any of these
other social channels, you know, discord or medium or whatever,
and you ask some questions, you know, if you if
you put them politely and you know, not aggressively or

(01:05:02):
anything like that, and you ask questions. If if the
deaths come back and give you proper answers, then that
is a good sign. But if you get blocked or
anything like that, you know, or ignored, that is probably
all the red flag you need. Because any crypto project
worth its worth, its solved, any legit project will always
try and answer questions, address concerns, you know, all this

(01:05:26):
sort of stuff. So but there are just countless examples
of this happening. And yeah, dev's going quiet or blocking
people or or whatever. It's it's a it's a complete
red flag. And ditto communities as well. You know, if
if if a coin or token has a really strong
community behind it, who just will not listen to any
sort of criticism, that that too is yeah, you should

(01:05:48):
be worried. Also when you're when you're speaking to someone
or you're listening to someone that you do it a lot,
which I think is admirable, is when you are talking
about a project, you do let people know if you
are holding it, you know, just just so everyone is
aware and completely transparent. I hold a little bit of
jizz ei or whatever, and that maybe even unconsciously biasing

(01:06:17):
my my opinions on it. You know, it may or
may not be that, but let people make their own
decision about it and just be a cool. Look, I
hold this this hit coin. By the way, I was
in at the I c O on this. You buy
is going to make me extremely wealthy? Yeah, yeah, it's um, yeah,

(01:06:40):
there's is it's there's so much of this kind of
stuff in in in crypto unfortunately, but yeah, it can be.
It can be depressing to cease to look at some
of these groups and these people who are just you know,
deluding themselves and yeah kind of really you know, turn
really nasty and stuff. It's yeah, this this person's right.
I'll never be a part of a crypto cult ever again.

(01:07:02):
If you ever do realize if you have a sort
of thing, hang on a second, am I in a cult?
Then you're an accult and you should leave if you
If you ever, if you ever ask yourself the QUD
just good rule for life, isn't it. If you ever
a room with hundreds of people dressed in the same
white colored robe, all with a glass of kool aid,

(01:07:24):
and you ask yourself, am I in a cult? Probably certainly? Yes, yes, Okay,
I think we've got the next one. Yeah, yeah, we've
got time for two more. You read you read this
next one. Am. I got a tattoo of a project
it rugged. Now, this is something that's I've seen other

(01:07:48):
people like I used to do a club night. You
used to do a club night called Regression Sessions. And
we've had people who come to the this is just
some random club night that you know it was. It
was fairly big. And I've had people come up to
me and show me their Regression Sessions tattoo and I'm like,

(01:08:08):
what are you doing? It is a club night. It's
it's not. I mean, but some people have different you know,
some people get tattoos for jokes. Some people you know,
it's it does it's it's it's a different meaning to
different people. And I hope this guy was fort into
the Regression Sessions camp here with a tattoo project that

(01:08:31):
of a project that rugged. And look listen, it's a
funny story. Yeah. Yeah. It's kind of like getting a
girlfriend's name tattooed on you to find out she's she's
not the one. Yeah, I mean again, we're we're kind
of we're straying into sort of rules for life. Territory

(01:08:51):
as well. It's not just rules for crypto, is it.
But I think, you know, a good rule for life
is I don't get that crypto the thing tattooed, you know,
don't at a club night tattoo, don't get a girlfriend's
name tattooed, and things like that, you know it. Don't
get any sort of facial tattoo. Yeah. Possibly, yeah, I
mean because they're they're hard to get off and people

(01:09:12):
will judge you, especially me. Um. Yeah, no, I mean
I got a tattoo of a project it rugged. Yeah,
it's just just just don't go there. Don't get a tattoo.
If it's a cool logo at least that's fine, you
know what I mean. Well, if if it's you know,
the theoryum is quite cool, just abstract sort of little shape,

(01:09:34):
do you know what I mean? Bitcoin, I wouldn't want that,
but something a bit more simple and yeah, okay, well,
I mean people that people have got to do what
they've got to do. It's it's their bodies. Isn't it
that that tweet does put me in mind of um,
I think it was. It wasn't a tattoo, Although I
think this happens when you know, football supporters get their

(01:09:55):
favorite players names tattooed and then that player promptly leaves
for another club. Yeah, or when you get the someone
type got the tattoo of England euro winners or something
like that, and then we lost in the final and
it's that's there forever. It's like you just could have

(01:10:17):
waited twenty four hours and yeah, I think. And there's
also the one I think that I think at Newcastle
wasn't there we didn't someone didn't A Geordie Fellow called
their son Cole only for um and olderly for man
Unite two later, you know, he named it after after

(01:10:40):
the the carbon fuel that was it, yeah, which which
had vanished from the area. Okay, so just time for
one more. This from the fifth of July two. I
had an amazing family and literally had it made in life.
Then I just covered bitcoin and became overwhelmed with greed

(01:11:03):
and ultimately lost everything I had trying to obtain more.
Wish I had never discovered crypto guy. We're doing this
episode to cheer me up. I know, I know we're
doing this episode to cheer me up. So I can
leave this, you know, our chat once a week and
I'm going to be happy and and you leave us

(01:11:25):
on this. I lost my I've lost everything I love
trying to obtain more. I wish I'd never discovered crypto.
What are you doing? I think I just think, Mikey,
that it's a very important lesson to learn because as
I said, as I said at the beginning of the episode,
like coin Fessions is amazing, but there are you know
that there are some funny ones, there are some very

(01:11:46):
truthful ones. There are also some really damn bleak ones
out there, and I think it's important to acknowledge that.
And I think this is like the probably the most
important lesson that we can that we can take from
this whole episode, from all these experiences that people have
had in crypto. Like, crypto is amazing, and it has
made a lot of people very wealthy. It has changed

(01:12:09):
a lot of people's lives for the better. Um, but
it is not the be all and end all. It
can be. It can be a destructive force if you
let it. And I think it's really important for people
to remember that the really important things in life are
things like you know, our family, our friends. You know,
crypto is Crypto is amazing, but it should. It should

(01:12:32):
never come before your family, before your friends, before taking
you know, the things that are really important. Um. And
you know, but it is possible to have it both.
But people do get overtaken by greed. They do get
obsessed by the idea of having more and more and more.
It's like, for one thing, remember what's really important. And

(01:12:54):
for another, you know, you have to you have to
have limits, you have to be you know, you don't
let greed consume you, because then crypto isn't so cool.
You know. It's remember what's really important in life. Yeah,
that's okay, fine, that's a nice way to end it.
I hope this guy finds a new family. Yeah, yeah,

(01:13:18):
I I hope he. I hope he managed to patch
things up with his family and kind of get back
to get back to the good things that he had. Um.
But yeah, it's it's it's very true, folks, you know,
don't don't let the bad things in life take you
over anyhow. So I think there was some. I think

(01:13:39):
there are some so good. Yeah, yeah, it's a great.
It's a great channel coin fashions. I'm a big fan
of it. And yeah, I think it's uh, it is
actually I think a really important part of your crypto journey,
because it's the sort of thing that you should just
check in with every now and again for a dose
of reality. You know, when when crypto is starting to

(01:14:02):
take over your life, just just step back, look at
coin fesshions and don't make the same mistakes that those
people did. It sounds good. I think it's good. It
is a little a sobering, uh snapshot of other people's experiences,
So I think it's yeah. I'm going to follow it.
I'll give it a little follow. Good stuff, good stuff. Okay,

(01:14:26):
let's should we leave it there for this week? I
think yeah, I think we've given I think we've probably
freaked enough people out with some of the some of
the goings on in crypto for for one week. We
will be back next week, I hope again. I've I
have no real idea what we're going to talk about,
but we'll we'll figure something out. I might try there's
a couple of guests I'm hoping to bring on again.

(01:14:48):
I've really enjoyed having guests on the podcast before, so
I'm kind of making, you know, putting feelers out to
get a few people on. Why don't you speak to
the old cs. You can get him on and I
can ask him about what he frittes his money away
on and if he will lend me a million million pounds. Yeah, yeah, Okay,
don't tell him that. Don't tell him that till he's

(01:15:10):
on obviously, and then we'll ambush him. Yeah, okay, and
see if he's maybe see if any of these coin
fesshions people are him. Ye. Anyway, Mike, it's been great
to see you again. Um, and yeah, I'll check in
with you, check in with you again in a week's time.
Sounds good, mam. Cheers, Bye, Thank you so much for

(01:15:35):
listening to the coin Bureau podcast. If you'd like to
learn more about cryptocurrency, you can visit our YouTube channel
at YouTube dot com forward slash coin Bureau. You can
also go to coin bureau dot com for loads more
information about all things crypto. You can follow me on
Twitter and at coin Bureau all on word, and I'm
also active on TikTok and Instagram as well. First of all,

(01:15:56):
it's not thank you for listening, you're welcome for great content.
Hunt Yeah, like this is free and they're learning about
a fairly great topic in a non boring way. If
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(01:16:26):
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