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“howey test” · 1 mention
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59:20
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54:54
obviously looked at circumventing that
54:55
you by utilizing affiliate links great
54:57
idea what other sort of marketing you
55:00
doing well I mean right now I haven't
55:03
spent any money on ads at all because
55:05
I'm focused on finishing the white paper
55:07
instead of writing copy and
55:09
doing a/b
test
s across different
55:11
campaigns and it's also very hard for me
55:13
to to try and measure how much money a
55:17
user is worth yet right like like how
55:20
much how much is a new visitor to
55:22
Bitcoin Hagstrom worth I don't know do
55:25
they have Bitcoin to actually claim with
55:27
because like right now the pitch is all
55:29
revolved around people claiming I can't
55:31
wait to rotate out of that truthfully
55:32
like giving away free money yeah it's ok
55:35
you know what's even better getting
55:38
people to buy right and that's a
55:39
different sales pitch so I can't wait to
55:42
rotate the sales pitch from claim and do
55:44
all this complicated with all these
55:46
weird words with things you've never
55:47
seen before it's a shitty pitch right
55:50
and it doesn't generate revenue it just
55:53
generates the infrastructure and the
55:55
strength and the mind space that will
55:58
turn into huge revenue later right so I
56:00
have to go through this launch phase
56:01
where we give it a lot of free money to
56:03
people but that shit's only 50 weeks
56:05
long and it's really you know less if
56:09
you think about how much they're getting
56:11
hit on the way right so half of their
56:14
stacks missing at week 25 so even though
56:17
it's 50 weeks long week 50 if you claim
56:20
you're not making much you're getting 2%
56:23
of what you could have got and it's been
56:24
inflated to to reward all the early
56:26
people so you're really getting like
56:28
maybe 0.2% so this this launch phase of
56:31
giving away free money I can't wait to
56:33
transition out of it and start
56:34
onboarding real users they want to spend
56:37
money speakers speaking of the free
56:40
money thing how long's the cookie
56:41
tracking 3 here like night 3 years oh
56:44
well ok so so if somebody wanted to just
56:47
so people know that are watching on my
56:48
channel right now and if you want to
56:49
take my link below replace my IAM adjust
56:52
your aetherium address that creates your
56:54
cookie link I will your your tracking
56:55
link and you can check there the cookies
56:57
by doing inspect element like the Ignasi
56:59
see I wrote a guide that's just yeah I'm
57:01
gonna go down the bottom of the homepage
57:02
so you know 40 seconds if somebody wants
57:05
to send somebody or self-refer and like
57:07
now for example if I was to send
57:09
somebody to Bitcoin X right now there's
57:11
no need to do it right now because
57:13
people can't claim yet well you know it
57:15
it can't hurt so here's the thing right
57:18
you're only gonna get paid if they claim
57:19
they're only gonna claim if they
57:21
understand
57:22
claim and it takes a little
57:24
while to figure all this out right so
57:26
you kind of do need to send them a
57:27
little bit early so they can read up a
57:29
little bit and learn about oh okay
57:31
here's how you sign a transaction oh
57:32
okay we're gonna use meta mask as the
57:34
wallet let's let's install meta mask if
57:37
you don't have met a mask installed how
57:38
you gonna claim you got to get the
57:40
transaction to the etherium Network
57:42
you're gonna do it a harder way the
57:44
easiest way is meta mask with our wallet
57:46
that we built all the other ways are
57:48
harder right so I
57:49
it's very intelligent to refer them
57:51
earlier because if you don't refer them
57:53
someone else will and they're gonna get
57:54
paid and you're not so I mean maybe you
57:57
could get lucky and they'll click your
57:59
link last and it'll overwrite but what
58:01
if you don't get lucky yeah so what um
58:05
what are you doing that right now in
58:07
terms of speaking to exchange it's
58:09
obviously that's gonna be a a huge part
58:11
I Dec said they wanted to list it
58:14
hence the audits is that what you're
58:17
auditing well I mean it the audit
58:21
matters because I don't feel like
58:23
working really hard on something that
58:25
isn't gonna last forever like I want it
58:27
to last forever right this is this is
58:31
every good idea in crypto that exists so
58:34
it needs to work and work for a really
58:37
long time
58:38
i I don't want to go through the effort
58:40
of having to airdrop a fix to everybody
58:43
it's better to just pay the auditors and
58:46
make sure it's right first time you know
58:48
because it's fixable if something goes
58:51
wrong I could airdrop the system state
58:52
before a break to a new fixed thing but
58:56
why just have it not break in the first
58:59
place you know like there's auditors
59:01
they I have money they want money I give
59:04
them money my thing works better
59:05
I'm happy you know Olson
59:09
so you gonna stay on the deck side or I
59:11
mean obviously no I mean so nah Travis I
59:14
can't promise you work I can't really
59:17
even give you the expectation of work
59:19
because I don't want to fail that leg of
59:20
the high
test
so the
Howey
test
is are
59:23
you a security there for restricted by
59:27
security laws let's have a
test
have
59:30
people given money to a common pool with
59:33
the expectation of profit
59:35
from the work of others give money you
59:39
ain't giving me no money okay we're good
59:41
so just feeling that means that the
59:44
whole thing fails and you're not
59:44
security but let's just play it safe and
59:47
hit all the other ones too so you ain't
59:50
giving me no money are you giving it to
59:52
a common pool now there's no pool and
59:54
there's no money so that's two fails are
59:56
you giving it with the expectation of
59:58
profit
00:59:59
well I'm allowed to sell you a like a
01:00:03
collectible plate and say it's gonna go
01:00:05
up in price that's cool
01:00:06
well I'll sell you a beanie baby until
01:00:08
you it's gonna go in price that's cool
01:00:09
that's not a security wake so the
01:00:11
security is is the reason it's going up
01:00:14
on price work that you're going to do in
01:00:16
the future right so I promise you no
01:00:19
work I promise you absolutely no work at
01:00:21
all please do not have any expectation
01:00:23
of work all right
01:00:24
don't want to be a security so so when
01:00:27
you ask me what about exchanges it's
01:00:30
like well if I contact the exchange
01:00:32
before the token even exists is that the
01:00:34
expectation of work in the future no
01:00:36
because it's before it so I could
01:00:38
probably get away with telling you yeah
01:00:40
as soon as they're not it I'm gonna call
01:00:41
the exchanges and see what's up but I
01:00:45
have to be careful not you understand
01:00:48
what I'm trying to avoid yeah I do know
01:00:50
it's a great analogy to be anybody thing
01:00:52
because the sec a stupid in my
01:00:54
opinion they've turned into a crypto
01:00:56
blog I noticed now I've know the FCC is
01:00:58
really smart on this plant I think the
01:01:01
SEC tries to do their best to protect
01:01:03
people from losing their life savings
01:01:05
and getting the out of them
01:01:06
I think the SEC did a really good job
01:01:08
with her Howie I see a website if you
01:01:11
haven't seen it you should go visit it
01:01:12
it's Howie I see Oh calm and it tells
01:01:15
you about the Howie
test
s and it shows
01:01:17
you some tokens and whether they think
01:01:20
they're high risk of being a security or
01:01:22
whether they're low risk of being a
01:01:24
security that's amazing outreach that we
01:01:26
haven't seen from any other regulator in
01:01:29
any other country and there is a lot of
01:01:33
scams and a lot of out there
01:01:34
that someone needs to fight and I did my
01:01:37
best to fight it and I'm not sure how
01:01:39
sure how effective I was you know I
01:01:42
think that Floyd Mayweather having to
01:01:44
give his money back and
01:01:46
wrapper that says you know you played
01:01:48
yourself big yeah right dj khaled those
01:01:53
guys they needed to not be promoting
01:01:55
securities and not disclosing their
01:01:59
relationship to the company like they
01:02:00
they were vital in securities law and
01:02:02
that shit's not good for the world you
01:02:05
know it's not good for the world they
01:02:06
have a boxing guy getting noobs into a
01:02:08
pump and dumb scam that's not
01:02:11
good for the world and the SEC is out
01:02:13
there to fight that make the
01:02:14
world a better place so I I'm actually
01:02:16
pretty happy with the SEC in my opinion
01:02:20
but I mean so like I see all the
01:02:23
that happens it's wrong right and I want
01:02:25
it to be better and I think the SEC kind
01:02:27
of wants the same stuff I just think the
01:02:30
SEC looks a bit cheap right now I mean
01:02:31
that for a start what they
01:02:33
decommissioned they and they even active
01:02:34
right now but I noticed a tweet from
01:02:36
them the other day they tweaked it out
01:02:38
and it's all about securities and and I
01:02:40
SEOs and the difference between IPOs and
01:02:43
SEO and it I might as well have been
01:02:45
reading CCN you know or or a Bitcoin
01:02:48
blog you know an industry that's been
01:02:49
the same for a hundred years
01:02:51
like what's the new thing that happened
01:02:52
in securities in the last 100 years
01:02:54
there's nothing else going on like you
01:02:57
know like junk bonds was what the 80s
01:02:59
and then like like what's in between the
01:03:01
80s and now I mean what cdo's like
01:03:05
credit default swaps I don't know man
01:03:08
let's question for Belfort that was his
01:03:10
timeline so well listen dude you've
01:03:14
you've got crypto love now I think a
01:03:16
veneer the next next 40 minutes so I'll
01:03:19
talk to you about anything forever
01:03:20
like I just I figured look man if I'm
01:03:22
gonna I'm gonna put it on this shirt my
01:03:25
shirt wall if I'm gonna wear pants I
01:03:27
might as well do a bunch of interviews
01:03:29
right because that's what the was
01:03:32
gonna earlier this year and no last year
01:03:34
last year's in rehab last year and I
01:03:35
came out quite quite slim but I stopped
01:03:38
smoking one of the things that happened
01:03:39
so like I was just like yeah I got this
01:03:41
new lease of life food you know you
01:03:43
should do I just know this game you're
01:03:45
tiny like you are you are literally like
01:03:49
1/16 of your pixels of your screen
01:03:51
oh yeah I've even shifted your screen
01:03:53
off to the side to get rid of some of
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