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Richard Heart On Twitter Spaces July 23rd, 2022
Jul 23, 2022
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20:22
because that's
20:23
what it is the brute that's what's just
20:25
so funny to me so funny to me it's like
20:27
people say that i'm outrageous and and
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you're really like i just talk about
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software oh my god the the nerdism of it
20:36
and then i also happen to have a pp and
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it has a dimension that is declared
20:40
this is not actual outrage like i just
20:43
i don't i don't understand what makes
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people so angry that like i have an
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accurate opinion of myself like i don't
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i don't even know what the outrageous
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part is
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like i give up like that's what's crazy
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to me is the world is so screwed up that
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i'm not even exactly sure what the
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outrageous part is
21:00
to be honest it's just a case of you
21:02
speaking your mind right but you don't
21:03
skirt around the subject you're very
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direct with your messaging and your
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language some people don't like that and
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um you know ultimately a lot of people
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probably think exactly the same way as
21:12
you do especially around three arrows
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you know and obviously with bachinski
21:17
and what's happened with c5 and
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people offering attractive buzzwords and
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ridiculous apys to attract vulnerable
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people in that are maybe new to crypto
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or just
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inexperienced with handling their own
21:28
money you know you know essentially just
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preying on these people um with that and
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this is why it's really important that
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we have people
21:36
like yourself speaking out against it
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and being frank and open and honest
21:40
about it i mean not everybody's gonna
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like the words that you use
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but the like the message that you're
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you're conveying is certainly a noble
21:48
one in my opinion
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i like when the news agencies will do an
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interview with me
21:53
and then purposely say like we will not
21:55
cover any of your products so thank you
21:57
for predicting the future and all the
21:59
price movements and stuff but we will
22:00
definitely not mention
22:02
any of the things that you've invented
22:04
that specifically solve these problems
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but so
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it's like
22:09
wow it's amazing so anyone else in the
22:11
world could talk about my stuff but not
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me that's great
22:15
yeah yeah richard have you ever been uh
22:18
have you ever been uh
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like uh what's the word attack ghost
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band
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or shadow man
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i've just been straight up banned off
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youtube about four times i'm banned on
22:26
facebook uh
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you know they keep unbanning me on
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youtube i never even tried to get on
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banner facebook i didn't care
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my accounts restricted from marketing on
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insta
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can't buy ads um
22:40
yeah like uh the world is unfair
22:44
no doubt no
22:45
listen i'm partly shadow bad on twitter
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for a second because you can't advertise
22:50
your crypto um but i hear what you're
22:53
saying though because it's like you got
22:54
the eloquent spoken that are rugging
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people left and right it's like what's
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wrong with the brash guy that's leading
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a community right like
23:02
the people just the truth
23:04
but i'm realizing
23:05
is the years past you figure people
23:07
would like update their worldview you
23:09
know like there used to be a bch versus
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btc debate i was on the btc side bch is
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down 99 verse btc now
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i won but like does anyone go back and
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check the tape and be like oh god darn
23:22
richard was really right
23:24
and he showed up the coins
23:26
in a safe way with a virtual machine so
23:28
that we wouldn't get our keys hacked by
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bad node
23:32
and then like it just
23:34
and this happens over and over again and
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it's like you know richard called the
23:36
top on the day and then people are like
23:38
the guy that went irresponsibly long his
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words with the largest position of his
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life his words ralph paul
23:45
i never been on his channel i told him
23:47
hey man ladies lickers and leverage
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that's how you're gonna lose your money
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that's how smart people get wrecked
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i told sailor not to get leveraged up i
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told 3ac not to get leveraged up i told
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raul not to get leveraged up i told him
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the top was it
24:02
so i i just at what point do i get the
24:04
respect that i earned from being right
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again and again and again
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and i'm not wrong like where's the call
24:10
i ever deleted i never delete nothing
24:13
i was wrong once uh hoping that the bear
24:16
the the bull market would return
24:18
from 93 down to 85 and then i called
24:20
that it was dead and we went down to
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three
24:23
in 2018. while we're speaking would you
24:25
mind giving a market sentiment on how
24:27
you feel the next year and a half year
24:29
will go within within the market if
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you're if you can if you're comfortable
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doing so
24:33
i mean the bear market will be over now
24:35
but these
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instead of letting the normal micro
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market cycle block top play out they
24:41
went and got leveraged up and bought
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another double top
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so now they have to get washed out and
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they delayed the market
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bottom by six months
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so hold the chart up
24:52
yeah
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right they they bought a double top with
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their entire stack so now they're
24:57
getting all liquidated and delayed the
25:00
bear market bottom
25:01
the problem is like my normal 85 drop
25:04
call which i'm just calling conservative
25:06
the 11k mathematically i think it's 10
25:08
650.
25:09
it uh
25:12
it it's fine it could be invalidated by
25:14
the fed just increasing uh
25:16
the cost of dollars
25:19
so is the setting side factors you're
25:20
talking about those outside factors you
25:22
don't see on the chart
25:24
exactly so like they don't understand
25:26
like when you look at a bitcoin chart
25:27
you're looking at bitcoin versus dollar
25:29
that means that the value of the dollar
25:31
actually has its own
25:34
effect on the chart and so we've always
25:37
had bitcoin in a macro where the
25:38
printing was as high as it's ever been
25:40
and the interest rates were as low as
25:42
they've ever been and the money was the
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cheapest it could ever be
25:45
which drove asset prices all very high
25:48
now that they're doing monetary
25:50
contraction
25:51
and reducing the money supply
25:54
the uh
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and even the you know the eu just raised
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its interest rate for the first time in
26:00
11 years yesterday 0.5 half percent i
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think
26:04
yeah is either 50 it might have just
26:06
been 50 basis points it might have also
26:07
been half a percent it was one of those
26:09
two they are 100x different so or 10x
26:12
different
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um
26:15
so like
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the
26:16
the issue is that your normal 85 dump
26:19
might go deeper
26:21
because the value of the money has
26:22
gotten more expensive
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so basically related to end of the
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interest rates
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which means for the idiots that are
26:30
listening that don't know what inversely
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correlated means it just means that when
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interest rates go up
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because the fed raises it the guys that
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aren't elected the guys that just the
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private company called the federal
26:40
reserve that's a private company when it
26:42
raises the rates
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um
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then the stock market goes down and when
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the stock market goes down consumer
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spending on rich people stuff goes down
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so that's the watch top i called the top
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and watches as well as crypto
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right on that too
26:58
are you saying this is the first crypto
27:01
because of you know 59 this is the first
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time the government is absolutely okay
27:06
yep that means so now now that money is
27:08
for the first time getting more
27:09
expensive relative to how where it was
27:12
six months ago
27:13
you know so lumber's down like 30
27:16
watches are down 25
27:18
i think amazon's down maybe half
27:20
maybe maybe 30 40 percent
27:23
um
27:24
and i think that even like it gave back
27:26
all of its coveted games i think i
27:29
didn't i don't have the chart in front
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of right now but i think that's my last
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recollection of it
27:33
and so basically you can get a lower
27:35
than 85 percent
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target unless you have a bull run in
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bitcoin until
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that 30 discount on grayscale bitcoin
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goes away
27:44
what entity would be given the option to
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buy
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grayscale bitcoin at a 30 discount which
27:50
is getting the same it's like getting a
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50 bonus
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33 discount equals 50 bonus
27:57
um
27:58
and then it also trades at a premium
28:00
when it does go up it usually trades
28:02
like a 20 premium
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why wouldn't you buy
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at a third off and get a 20 premium
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later until that goes away you're not
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ever getting a bull run
28:11
that's not happening
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