Episode 90: Halving Countdown—Will Bitcoin Moon?
This is an interesting episode as we talk about these topics: the US Senate floating using blockchain to vote remotely, a coin (which you’ve probably heard of) that’s up 600%, a question on bitcoin halving, and motorcycles.
For News Break, we talk about the US Senate floating blockchain for the “Continuity of Senate Operations and Remote Voting in Times of Crisis”. In the April 30 memo, the reason why blockchain may be considered is that “with its encrypted distributed ledger, blockchain can both transmit a vote securely and also verify the correct vote.” We weigh in on the pros and cons of this move.
In Token Time, we feature DigiByte which is #31 as per CoinMarketCap. We discuss the numbers, how valuable is this project, and the context of the feud between DigiByte and Binance.
We answer Pope’s question in Whatcha Thinkin’: When is the best time to buy bitcoin? Is it during, before, or after the halvening?
Listen to our answer to Pope’s question in this episode as we wait for the bitcoin halvening. You can ask us a question too, by sending us an audio message at ask.beards.live
For Manspreading, we talk about motorcycles.
Get $50 for FREE when you get the #MCO $MCO card through the Beards & Bitcoins Crypto Podcast! Head over to http://mco.beards.live
Time Stamps of Segments
10:16 News Break
22:03 Token Time
30:09 Whatcha Thinkin’
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Episode 90: Halving Countdown—Will Bitcoin Moon?
JChains: Hey guys, thanks for joining us for another episode of the Beards and Bitcoins Crypto Podcast. We are a Crypto Podcast for the man’s man and yes, the ladies that love the guys that love this show. We had a nice little fun talking about that earlier.
BitBoy: We did. We’re like, ‘The ladies that love them’ who is them? Is it us? Do your ladies love us? Or do your ladies love you?
JChains: Your ladies love you. And that’s why they’re a fan of the show.
BitBoy: Yeah, because they care about what you care about. And you love us and think we’re two sexy dudes. Wait, no. They think we’re two manly dudes and then they think that we’re sexy dudes, I think? No, no still off.
JChains: It’s something like that though. I think I like where you’re going with that. Anyway, we’re happy to be here. It’s going to be a fun show. Ben, what are we going to talk about this week?
BitBoy: Yeah, this week, we got a lot of interesting news coming at you. I mean, guys, we are only 5-6 days depending on how the hash rate goes away from the halvening. So, we got big news on that. We’re going to be talking about that a little bit today. But in News Break, we’re going to be talking about the US Senate, floating blockchain voting to help them with their votes for legislation. If they happen to have to go remote due to the pandemic. On Token Time, we’re talking about a coin that is up 600%, and it’s a coin you’ve heard of, in the last month and a half. A lot of people have been sleeping on it. We’ve had some people from that project to work with them on the show before and it’s phenomenal, see how they’re doing. We’ll talk about that. On what you think we’re going to answer a question everybody wants to know about the Bitcoin halving and on Manspreading, my boy, JChains. is getting a new motorcycle. So, let’s talk some steel and chrome.
JChains: Vroom Vroom baby.
BitBoy: Vroom Vroom. But first and foremost, we got to start the show off by talking about the halvening. I mean, it’s everywhere and I don’t know if you know–
JChains: It’s too close. It’s too close.
BitBoy: It’s so fat. So soon. So, I was actually in a music video.
JChains: Oh, that was funny. I saw that.
BitBoy: You saw it?
JChains: I saw it.
JChains: Nice little mashup of the community there. That was cool.
BitBoy: Yeah. Wendy was in it. It was so funny. Did you see what Wendy was doing?
JChains: Yes, she was doing something in the kitchen. She was making something, right?
BitBoy: She was making a sandwich.
JChains: That’s awesome.
JChains: That was super cool.
BitBoy: She was making a sandwich, wearing an apron, it was in the kitchen, it was pretty funny. But the name of the song is I think is ‘The Halvening’ or ‘Bitcoin halvening’ and it’s by the CoinBros and so they reached out to me and said like, ‘Hey, what’s up BitBoy, can you know, give us some little clips or whatever.’ So, I said, ‘okay’ So, I had this idea, right? The whole idea they said is like, they wanted us to have– you guys can check it out on YouTube, just go to CoinBros and click videos, it’s their latest video. And so, I had this idea. I was like, oh man, I’ve got the super original idea. What they wanted is they wanted all kinds of people like ripping stuff up, like cutting something in half. And I was like, ‘Okay, cool. Cool.’ So of course, I watched it like Zombie. You know, Kyle from Crypto Zombie, he had a chainsaw.
JChains: That was super cool. Super cool
BitBoy: That was super cool. Super cool. But I was like, I got this great idea. I’m going to take a picture of Peter Schiff and Nouriel and I’m going to rip them. I was like, and I sent him a message, I was like, ‘I hope this is original.’ That’s like what everybody in the video did.
JChains: It’s still good. It was still good. It was funny to see. It was funny to see all the creativity come together and everybody’s little space wherever they may be around the world, I think.
BitBoy: Yeah, but I mean, I don’t know if you noticed, but I wasn’t ripping anything. They had me in there for my dance moves.
JChains: You were ripping up a rug. You were cutting a rug, man. Yeah, you were looking good man. I feel like you just probably got your haircut. I think your beard was like freshly manicured. Yeah, you’re looking good.
BitBoy: Thanks, dude. I appreciate it. You know what? You always look good and I really love you. We’re having a weird moment here. Okay, let’s move on. Let’s get back into the halving. So anyways, I want to tell you guys about that that was pretty cool. We’re going to talk about the price around the halvening and stuff but how do you feel J, that it’s like finally right around the corner after years of talking about it?
JChains: Years. It’s what? Every four years or so? And I feel like we’ve really been talking about it for the last 18 months and it’s just like, you know, the anticipation has been just swelling and swelling. And it’s like holy smokes like now we’re actually here like we’ve been talking about this for a while like ‘ The Halvening, the halvening, the halvening is approaching’ and I’m like yeah, ‘oh, it’s here’
BitBoy: It’s here. But and this is what I would like to say to our listeners, which is if you are still in crypto and you made it from the 2017 Bull Run to now, you made it from the bull run all the way to the halvening, you are officially an ‘OG’
JChains: ‘OG’ Here we go.
BitBoy: You made it.
JChains: Welcome to the club.
BitBoy: Welcome to the club. You made it. You will no longer hear people say things like, ‘you just got into crypto in 2017’ I know you guys probably hear that a lot. You know, people out there, especially if you’re on Twitter or anything like that, but now Hey, when this run happens, you’re the ‘OG’, you’re the one people going to be going to. So, a lot of people dropped out and so you know if you stay then, I salute you.
JChains: Yeah, more power to you to go from the top to the bottom. Hopefully back up soon.
BitBoy: Hopefully. If this doesn’t do it, I don’t know. What’s ever going to do it? If we make it to the next halvening and we haven’t pumped yet, we’re still talking about ‘okay, but the next halvening is going to be really good’ we’re going to be in a bad spot.
JChains: We just sat sideways for another four years. Oh Jesus.
BitBoy: Let me ask you this–
JChains: It’s like Groundhog Day.
BitBoy: We’re way off topic here. But I want to ask you this real quick before we move on, how much longer can you wait and still be in crypto? Like, what’s your cutoff? Like, look, if in five years if we’re you know, we’re still at 10,000, I’m out. Is it two months? Is it eight months? Is it three years? What do you think? What’s your day?
JChains: I don’t really want to– I’m not going to give up that easy, but something’s got to give soon, man. Like, I think everyone’s just like chomping at the bit for it. Like, I’m not ready to like to ditch the game, but I think I’d have to take maybe a sidestep in some regards. I mean, I would never leave this podcast. Don’t worry about that.
BitBoy: Damn. This is my way of trying to kick you off and you didn’t even see.
JChains: It was like, — man, we went through like a little spurt. What like six months ago, six, eight months ago? I thought you were trying to cancel me every week.
BitBoy: Why did you think that? I think you were just in your head dude. Like there was no– we took a summer break. Now the summer break was pretty, pretty rough. You know, we took the summer break. And was that–
JChains: That’s what it was. When it was really bad, was that summer whatever. It had to be 19′
BitBoy: Yeah, yeah. Summer 19′ Yeah, Summer 19′
JChains: Coming up on here. Man, we’re going to look back many years from now, man that Summer 19′ was vicious.
BitBoy: Yeah, it was vicious. I tell you what, well, if you know what it was, we were all excited, we went out to the conference and we took a break. We’re like, you know what? We went out to the Bitcoin 2019 conference in San Francisco. And we said, you know what, like, we did a bunch of interviews there. We had a bunch of content and you were like ‘you know what, let’s take a couple weeks off.’ I was playing WSOP for poker or whatever. And then the whole market just got wrecked. We’re like, ‘do we have to keep doing this podcast?’
JChains: Well, we persevered. So just, you know, just like what we said if you’ve made it down to the dumps, and hopefully back up to the top. Congratulations, you made it.
BitBoy: Absolutely. Absolutely. Well, one. One thing that never dumps is the Monarch Wallet and if you didn’t know the Beards and Bitcoins Crypto Podcast is brought to you by the Monarch Wallet, rule your own financial Kingdom from the palm of your hand.
JChains: That is right Ben, the team at Monarch is working hard to bring you the one app to access all the best crypto services. These guys believe in delivering tech, not hype.
BitBoy: And with the Universal Decentralized Monarch Wallet, you can buy, store, spend and earn crypto with Monarch Pay, you can set up and accept recurring crypto payments.
JChains: Nice if you need more information, check out monarchwallet.com or monarchtoken.io today.
BitBoy: Yeah, and of course, the president of Monarch is our good friend, Robert Beadles, aka Crypto Beadles. I actually got to spend some time with him this weekend, virtually. For the Blockchain influencer awards, we co-hosted.
JChains: Very fun. How’s he doing?
BitBoy: He’s doing phenomenal. It was good to see a lot of those people, Crypto CRO, Wendy, for sure. Crypto Blood, Rice Crypto is there. A lot of cool folks, I think I named somebody out, can’t remember Adam was there Adam Charles But I don’t know if you heard I mean, we didn’t talk about on podcast but I won two awards. Yeah, Funniest Crypto Influencer.
BitBoy: And the golden upvote award, which is the only ‘fa- only nominated and voted award, second consecutive year.’ Here’s a funny story, second consecutive year winning the award. But this year actually split it. So, the producer of the awards, Adam, he came to me and he said, look, you beat this other guy by two votes. He had already told the other guy that he won. What happened is he didn’t realize that a lot of people nominated me as the CEOofFacts, because that’s my other brand. When he combined the scores, I won by two votes. Did you know who it was?
BitBoy: It was Chico. So, Adams always said you can either take the award by yourself or you know, because you did win rightfully or, you know if you wanted to split it with him because I already told him you could do that. I said, ‘you know what, there’s nobody I’d rather split awards than with Chico.’
JChains: There you go. I think that’s kind of how the universe unfolded for you. That’s pretty nice, I like that.
BitBoy: It was nice. I’m so excited. Speaking of excitement though, let’s hop in to News Break. Big news.
10:16 NEWS BREAK
BitBoy: Okay, guys, so for News Break today we got a very interesting story and it involves blockchain voting, but not the traditional kind of blockchain voting that we’ve talked about or hope for in the past where we will go and vote for the president with blockchain voting, but this could kind of be a precursor to it. So why don’t you tell him what’s going on with, J?
JChains: Absolutely. So according to an article that we were looking at a staff memo had revealed that the US Congress was considering blockchain technology as a means for the Senate to conduct remote voting during all the Coronavirus pandemics. So, while they’re unable to attend the chamber for voting, they can do it through the blockchain, which I think anybody in the space thinks that’s a fantastic idea. I mean, if not anything, it’s a trial to see how it works. But it leads to a lot of really good things. If you’re a believer in the technology.
BitBoy: Yeah, I mean this whole thing has been absolutely fascinating. And I think one thing it really shows is that a lot of times people are very resistant to change. But technology progresses at a rate that when people eventually get to a place where they hit a wall, like all of a sudden things are going gray, you would never think this would have to be something you would have to worry about. You’re down on cryptocurrency, you’re a politician, you don’t care about blockchain. But then all of a sudden, this pandemic hits and you say like, ‘man, I sure wish there was a way that I could verify it, certify it, send my congressional vote in a way that cannot be tampered with and is permanent, without having to actually go into the office and catch the ‘Rona.
JChains: Yeah, absolutely. I think one of the one of the things that the article talks about and probably is a valid concern for some of the senators, and maybe there is a way to alleviate this concern, but I think the 51% attack is something that is, at least what they say, is something that they’re fearful of. So, it would have to be some kind of technology that would avoid that and what do you think?
BitBoy: Who’s fearful of it?
JChains: The senators like in that staff memo; they say that they’re fearful of–
BitBoy: I would be shocked if one senator in the United States knows what a 51% of that is.
JChains: So, it says the report identifies concerns regarding a 51% attack on the blockchain used to host senate ballots, emphasizing that in quotes, ‘any remote blockchain voting system would need to be properly set up to eliminate any threat of a 51% attack angle.’
BitBoy: Well, it’s my understanding and maybe I’m wrong about this. But I believe a 51% attack is most easily done with a proof of work, a mining blockchain. What if we were to use a different type of blockchain that I think it’s a little bit harder to do those 51% tax, I believe
JChains: If you’re a listener of the show, this will be in one of the probably audio clips that will follow. Yeah, just answer the question. Let us know, if you know, if someone knows. So, we can speculate, we can talk and it’s fun for us to do that. But if someone’s like,’ I’m a math man and I know this’
BitBoy: ‘I’m a Bitcoin miner but I’m of age.’
JChains: That was terrible. But it was good.
BitBoy: Yeah, it’s good. Well, you know, it’s interesting for you, I’ve got concerned because I actually did a video today. Well, I mean, by the time you guys are listening to this, it will be a couple days back recording this on Tuesday. So, on Tuesday, I made a video about Bitcoin mining in China and mining is something I just don’t know a lot about, you know? I’ve got limited knowledge; I’ve never ran a miner. But I believe and after doing a lot of research on this, that people were concerned, back a couple years ago when there were two mining pools that almost had a majority, some say did have a majority of the hash power going through those two mining pools, and they’re both owned by China, or Chinese owned, not government owned. And I did a video talking about how I believe that if China overtook the mining pools, if the government overtook those mining pools, I think they could actually, maybe– You can’t destroy Bitcoin, because it’s an idea, but they could crush the network. Yeah.
JChains: We got to put those thoughts into people’s minds, man.
BitBoy: Well, and this is why and this is what I send the video, which is the fact that I had to dig really deep into a lot of research to really figure out whether or not that’s even possible, is kind of a scary thing. Because I think it’s this thing that people just don’t talk about that everybody kind of knows is technically possible. China hadn’t really haven’t had the motivation to do something like that. But now they’re coming out with their own digital centralized currency. And now that they could see Bitcoin as a competitor, so some people were arguing in the comments of that video they were saying like, ‘Okay, well, yeah, but some of those money pools are decentralized there’s some of those rigs aren’t necessarily in China.’ Well, yeah, but we understand the vast majority of Bitcoin mining goes on in China, so most of those rigs are there.
JChains: Right. Absolutely. I know that they were building, who was it?
BitBoy: Rockdale, Texas.
JChains: Yeah, like a few hours east to me. They were going to build like the hugest, ‘hugest’ nice choice of words there
JChains: ‘Huge-est’ the largest facility in the United States right for mining.
BitBoy: Yeah. And I think I don’t know if we can say, I don’t know if you know, I don’t know if I can say the person, I’m not going to say the person but I know someone who’s been on our show who was actually helping with that project that was actually before this whole thing hit was scheduled to go out there and talk with them about some consulting to set it up so
JChains: It was on Twitter I don’t want to say it either but-
BitBoy: Yeah, I don’t know I can’t remember if it was on Twitter or not, I saw it, I think in a– it was a direct message to me so I didn’t see it on Twitter.
JChains: Bum.. Bum.
JChains: Bum. Bum. Go dig through Twitter’s if you haven’t found out who it is. He’s a friend of the show. We love him. But yeah, so it’d be cool. We had a lot more Bitcoin mining here in the United States. But just to get back to your question on why I would talk about that. I think that these are the types of things that like, if we can’t really be honest about cryptocurrency and transparent about like, really, I guess kind of the– not flaws is the right word, but some of the fears on some things that can happen with crypto. I feel like we’re never going to really shore up those things. And if that did happen, if people understood that there are fail safes, like okay, if that happened, Bitcoin, the developers could fork it. Or they could actually it would be kind of a long process, but they could actually change the consensus method. So, it could go from mining, to actually proof of– not proof of work.
JChains: Proof of stake?
BitBoy: Proof of stake. I don’t know why that was on my mind there. Yeah, they could switch your proof of stake. There are some other consensus algorithms that they could change to people talking about that, because Bitcoin may have to do that if like, I don’t know, climate change gets really crazy, whatever it might be. So, there are some stuff in the background that could happen regarding that. It was important to talk about this stuff. Because if we all understood like, Okay, if they did that, this would be the plan and it would work, that could actually keep them from doing it. So in a roundabout way, by talking about it, by bringing up the solutions, like, yeah, if they did that, then we would go ahead and go this route, then that would prevent them from thinking like that’s something they could actually do and get away with and have their centralized cryptocurrency be the world reserve currency which is kind of their goal.
BitBoy: I know, it’s insightful you can just say like ‘dang BitBoy that was that was super insightful.’
JChains: Dang! Now let’s just make sure that the US Senate uses blockchain if they have to vote while in quarantine.
BitBoy: Yes. Will they be in quarantines, is the better question?
JChains: I hope we’re not all in quarantine soon although I think they’re starting to say that round two is going to be worse but anyhow that’s not what this shows about
BitBoy: I think it’s over. I think we’re on the way down, I think it’s over. Do you know what is over with this? And we’re going to move on to Token Time right after this, but I want to get your thought on this one thing. The fear is gone from it.
JChains: Absolutely. The fear. I mean, it has to be gone, right? It’s less than a thousandth percent of my county has COVID.
JChains: You have probably a better chance of getting struck by lightning.
BitBoy: You do. Well, maybe not sure about lightning, but–
JChains: if I went outside with a goal Club in a thunderstorm. Yes.
BitBoy: Yeah. I think what we’ve seen is just how widespread it was. And that means the death rate is very, very, very low. And I’m not scared. I’m not scared anymore. It’s different. Like, I was never scared, I was going to die from it. But I was scared I was going to get it.
JChains: And give it to someone else that may have died.
BitBoy: Exactly, but I feel like we move past this to where your average person in America is no longer fearful of this. And to me, the identity of America is like, we do what we want, you know what I’m saying? Like, that’s how we roll. You know?
JChains: Dang right son!
BitBoy: Yeah, dang, right. We like our liberty; we like our freedom. We want to do what we want to do. And that’s cool. That’s really cool. Okay, but now, we have this fear coming in where people were actually kind of like nervous, like, ‘Can we go out? Are we going to die? Are we going to get sick? We want our liberty but I don’t want to die.’ But now that part is gone. So now we’re just back in like all America. Let’s take our freedoms, let’s take our liberty. Let’s go do what we’re going to do, kind of stuff. I do believe we still are going to see some common sense stuff like I went to a barbecue place a couple weeks ago or earlier this week, and only 10 people could sit inside at a time you know, it’s a pretty big place so I’m down with common sense stuff. I mean, if you don’t get to be out doing something, no reason to just say ‘you know what, I’m going to go to a restaurant because I’m bored right now.’ Like you shouldn’t be doing stuff like that, but at the same time, at this point, I think most people in America we’re just living our lives
JChains: Just living your life man. I mean, wearing the mask, doing the thing, I got sanitizer in the car. Yeah, it’s just time to go about life, it’s just time. Yeah, I’m one of those people, I’m ready.
BitBoy: Yeah, I’m ready. And I ordered my Falcons mask a week ago. I’m still waiting on it.
JChains: I mean, I work at home, like I’m home all the time.
BitBoy: Me too.
JChains: So, it doesn’t matter. It’s just a different sense of like, I’m ready to like if I need to do anything, if I want to see a friend, whatever.
BitBoy: My kid lost his whole first travel season of her soccer like listen. He played three games; he scored a goal which is really good. At least you got a score goal during that time or whatever and then, now I’m getting emails now about he’s got to try out again.
BitBoy: He got to try out again, because the season’s over. I mean, we came in halfway through the season, so we just got to we’re just doing the spring, it’s really like a yearlong program. But like, he had to play three games that age group and he’s going to move up to the next age group, it’s crazy.
BitBoy: Yeah, it’s nuts. All right, well, listen. Speaking of nuts. If you’re crazy, then make sure that you’re not dumb, okay? And what I mean by that is, if you’re into Bitcoin, you’re crazy, okay? We know that, you gotta be crazy. But don’t be dumb and do something stupid with your Bitcoin like lose it. So, to prevent yourself from doing something dumb, make sure that you head on over to beardsandbitcoins calm and sign up for your 21 best Bitcoin Practices Guide. So, you don’t do anything stupid or lose your crypto.
JChains: Yeah, come on. Come on.
BitBoy: Come on. Don’t be a dummy. Don’t be a dummy. All right, let’s hit Token Time.
22:03 TOKEN TIME
JChains: All right this week for Token Time, we are talking, well, probably a lot of your favorite projects. This thing has been pumping in the last month and a half. I mean, it’s like 640% in the last seven weeks, something crazy like that, another 22% today.
BitBoy: Jeez, I’m looking at it right now. It’s moved all the way up to number 31 on Coin Market Cap. It was almost down to I think 80?
JChains: Wow, we’re talking about DigiByte, DGB.
JChains: Laura loves Digi, she’s been on the show. She’s a big fan. Were a big fan of hers, got to hang out in Texas, what’s up to the Digi community congratulations for hanging on man. It’s been a ride for them.
BitBoy: Yeah, well, and I actually listed this in my– I can’t remember which video it was, I think it was like, ‘top up and coming coins’ or Something I can’t remember what the name of the title was for the altcoin video I did. But I included my picks for May or April, for April. So at the beginning of April, I said this is a good project, is it the best project? Is it the next Bitcoin? Probably not. Is this one of the top projects? Yeah, it is. There’s no reason this project is down as far as it is. It’s in the 70s this thing will not be held down forever and it’s on 266% gains from the time I made that video to the end of April.
BitBoy: Yeah, and Bitcoin keep in mind guys, Bitcoin did 27% so wildly like almost 10 x Bitcoins performance for didn’t expect Bitcoins performance actually.
JChains: Dude, that’s crazy. So, in case you didn’t know DigiByte is a rapidly growing open source blockchain created in late 2013, released in early 2014. And according to the website, DigiByte.io It claims that after six years of forward-thinking development DigiByte has become one of the safest, fastest, longest and most decentralized UTXO blockchain in existence. They’re in 100 plus countries, all over the world.
BitBoy: Yeah. UTXO I mean that’s kind of blockchain infrastructure it uses–
JChains: Nerd alert.
BitBoy: Nerd alert. CUTE uses that. I think you’re cute. What? CUTE uses that, So you know it’s got a lot of good stuff to like about it. But the thing about Digi that really to me or DigiByte, I’ve always called it ‘Digi Byte’ but I’ve switched over recently to DigiByte. Okay.
JChains: ‘Digi bite.’
BitBoy: ‘Digi Byte’ Did you bite it? I don’t know, are my teeth bites on it. Yeah, I’m killing the dad jokes today. But in all reality, the thing that’s held DigiByte back and still continues to hold it back, is the fact it does not have a major exchange listing and by major exchange. I mean it does not have a Binance listing, it does not have a CoinBase listing. Let’s see who does list DigiByte.
JChains: Hey, now that you say that there was a huge controversy around that maybe what, like eight months ago a year ago?
BitBoy: Oh, it’s been ongoing for years. For years, this controversy has been going. It had another flare up, it’s had to flare ups over the last year.
JChains: Where they like won a contest and then the exchange gave someone else or something?
BitBoy: Yeah, so well. I can’t remember—Elastos, I know won a contest and Binance ended up saying they faked it. And like they use bots to win. So, they wouldn’t list them. So, I can’t remember if DigiByte– I think DigiByte won a Twitter poll, maybe? Maybe Binance put out a Twitter poll and DigiByte won it. But here’s the whole thing is Jared Tate is their founder, he’s not their CEO because they don’t have a CEO. He doesn’t have access to like, buku of DigiByte like unused supply like other CEOs would have, like that’s not the structure of DigiByte, truly decentralized. So Binance said, ‘Hey, if you want to get listed, then you’re going to have to pay us $1 million in DigiByte, I think it was $1 million. I can’t remember exactly what the number was, I think it was somewhere around there. And he said, ‘I literally can’t do that, like, I don’t have access to those funds.’ I just wonder if the community maybe could have raised that money? If you could have had people in DigiByte that would have all donated $100 to pay for that listing fee, maybe that would have ultimately helped them financially I believe, you know?
JChains: That’s a good point. Oh, like crowdsourcing, you’re listing fee.
BitBoy: Yeah, like crowdsourcing. But Jared Tate is very idealistic, he’s like an old school crypto guy like he really believes in decentralization like I believe he hates the fact that like, people feel like DigiByte needs to be on one of these bigger exchanges like I think he hates that like he wants to Like, you know, if they want this, they’ll find out, they’ll find where to buy it. I think he probably hates that to begin with. But so he’s like an old school guy, he’s all about decentralization and he’s so many times he said stuff that has actually put the project in harm financially, not like the blockchain, but the price in harm’s way by dumb, I don’t want to say dumb, but by just being too idealistic, I think? and saying things that that may need to be said, but like, if you’re the CEO, and that’s going to affect the bottom line of all the people that have your project, then maybe you should be careful what you say, even if he’s right, even if he’s right, being more tactful. And that has led basically Binance and DigiByte to have a huge feud with each other and there’ve been a couple flare ups. It flared up recently, like maybe three, three or four months ago when Poloniex, yeah, you remember that story?
JChains: Yep. Now it’s all coming back to me.
BitBoy: ‘All coming back to me now’
JChains: Was that Meat Loaf?
BitBoy: I think it was, I’m a big TikTok star now. So, like, I can sing and dance and stuff now, it’s no big deal. I don’t mind singing in public now. I’m, you know, I’m a TikTok superstar. Pretty good.
JChains: Nice. You should go on The Voice.
BitBoy: I should go on The Masked Singer, I might be on that show next year, possibly. I mean, you know what I’m saying?
BitBoy: So, yeah, but the point here
JChains: But anyway-
BitBoy: But anyway, back to DigiByte. The point back here with DigiByte is Binance has had a big feud with them and it’s gotten personal for sure. Between Jared Tate and CZ, it’s gotten personal between Jared Tate and Justin Sun. It’s been very personal and it’s nice to see that even though they haven’t been able to attain one of those listings yet. The project has really returned. So now if DigiByte somehow is able to get one of these listings, probably more likely CoinBase or Binance US, it might be on Binance US, I doubt it but it could be.
JChains: I don’t think so.
BitBoy: Yeah. If you already get on Binance US or CoinBase it could have a like a monster run. You know, we could see DigiByte get back on the top 20 which would be great. I never thought I would have seen that like three months, three, four or five months ago.
JChains: No but speaking of the top 20 and all your favorite cryptos make sure that you join our Telegram channel, so that you can come talk to us about your favorite cryptos so that we can talk about them during token time. The address, it’s probably down below in the screen, but it’s t.me/beardsandbitcoins. Again, come on, come talk to us, ask us questions, chit chat with us. I actually, full disclosure, I just recently got a new phone. I have to install Telegram onto set new phone and so by the time you’re listening to this episode, I’ll be back in the chat room.
BitBoy: Sending nudes.
BitBoy: Yeah, JChains is going to be back. You got the iPhone 11 Pro, right? So, you’ll have that real high res nude!
JChains: That Pro Max, baby.
BitBoy: I can’t wait to see it. The nude, not the phone. I have a phone; I want to see the nude. Alright, let’s get a question for the audience here.
30:09 WHATCHA THINKIN’
BitBoy: All right, here we go. We got a question from the audience. This is my man, Pope.
JChains: Ole Pope.
BitBoy: Pope. Let’s check out what he has to say.
Pope: Oh, please, I just want to ask, when is the best time to buy Bitcoin? Is it before the halvening or during the halvening, or after the halvening?
BitBoy: Okay, so Mr. Pope here. I don’t know if he’s Mr. Pope. Maybe he’s just Pope
JChains: I like Mr. Pope.
BitBoy: Maybe he’s the Pope.
BitBoy: This could be the Pope of the Catholic Church right now. Calling in wanting to know —
JChains: The one from the Vatican?
BitBoy: Straight from the Vatican, wanting to know where he can put in his golden silver coins. I don’t know what currency they use in the Vatican, okay? He got his gold coins in some Bitcoins.
JChains: Wait, that’s really nice, good for him.
BitBoy: Wants to know when he’s when he’s going to do it. Now if you guys want to ask a question on the show, all you have to do is go to ask.beards.live and hit it up and ask a question, you get your question answered, just like Pope is about to. So, let’s answer the question. So he says, is it better to buy Bitcoin during the halvening or right before the halvening or after that halvening?
JChains: That’s a good question. Because no one really knows what’s going to happen. I mean, history always repeats itself, right? So, in theory, like two weeks ago, it should have started running up, right? It’s not like days up to, it’s usually weeks up to, right?
BitBoy: Well, here’s the thing. I’ve done a lot of research into the Halvening. Do you know how many halvening we’ve had?
JChains: Three, this is the fourth.
BitBoy: No, this is the third.
BitBoy: So, this is the fourth cycle, we’re going into the fourth cycle. But when Bitcoin was created, it wasn’t created via halvening. So, it was created in 2009. First halvening was in 2012, second one in 2016. And now we’re in the third halvening. Going into the fourth cycle.
JChains: Oh, okay, that’s where I was confused. Good thinking.
BitBoy: Yeah. So, I think a lot of people think that, a lot of people think that there’s been three already, there’s only been two. And each one has actually behaved a little bit differently. So, for us to sit here and say, we know how Bitcoin is going to behave during this time. We just can’t really say that.
JChains: It’s all just a guess. It’s all just a personal guess and opinion. And that’s kind of like, you know, that’s really kind of the risk in investing in certain things, you take a chance on something and if you got the feeling if you’re believing it, I mean, I saw something where I think some trader like he got traded himself to like money that you don’t ever have to work again kind of thing. I mean, you can you just have to have a feeling whether that feeling is positive or negative, it doesn’t matter, you just have to– because no one knows the answer. I mean, I’m just finding a roundabout way of saying no one knows what’s going to happen to me. I mean, you can make your guess.
BitBoy: Well, yes. Here’s the thing, like we do know, like, we don’t know, but we also do know. So, what I mean by that is since the first halvening and the second halvening, okay? Within a couple weeks, or actually maybe about six weeks, either way. There was a 30% drop, okay? The first Halvening, I might get this mixed up, but I believe the first halvening, it saw the 30% drop, right before the halvening, okay? When the halvening actually occurred, the price dropped 10 percent, but never lower than that 30 and then went up, with the last halvening, it pumped leading into the halvening, and then it dropped 30% directly after the halvening.
JChains: The constants, the 30%, it’s going to do with 30%. If history repeats itself.
BitBoy: Well, some people would argue, it’s already happened. We had a 60% drop a couple weeks ago or about two months ago at this point. So maybe that 60% price drop, had that little 30% price drop baked into it, so maybe we won’t see a huge drop, we will see a drop after the halvening, we will. Now is it a 10%? Or a 30%? Is it one day? The last drop was less than a week, the time before that 10% drop, I believe was about a month. Like I said, maybe getting the instances mixed up but the numbers are correct. So, here’s what we don’t know, we don’t know the amount is going to drop afterwards. But we do know it’s probably going to drop. We don’t know or have we already had our pump? We were down 60% now, totally we are now above the price, well above the price when the market crashed, we’re above the price we were at that day, we were above the price we’re at the day before. So, we’ve totally erased the crash. So that might be good enough in itself. Most of us will take that at this point. So, we don’t know if we’re going to get another pump leading into the halvening, we do know the price will drop after the halvening. It might be a flash crash but it will drop. But what we do know is over the last two cycles, okay? We can’t say for sure it’s going to happen, but we’re pretty sure I would be shocked, the price starts rising within two months of the halvening and it never stops. It rises pretty consistent; it’ll get to all-time highs. Once it hits the all-time highs, it may hit a rejection. It may go through it. Once Bitcoin crashes through that all-time high resistance, it is off to the moon boys, off to the moon.
JChains: Off to the moon. Yeah. All right. So, do you hedge kind of what you got? So, say you got a half a Bitcoin? You got that in your reserve, Do you knowing that Bitcoins going to go down and this is a conversation we’ve had, we’ve talked about this many times, but just for the sake of conversation, you know that it’s going to drop, is it wise to tether off so that you could keep your USD value while the Bitcoin value goes down? So that when it gets to your desired level, you buy back in with a little bit more leverage.
BitBoy: If you are a HODLer, if you’re the type of person that you’re in crypto, you’ve got a portfolio, you watch your portfolio, sometimes you make some trades just because that’s what people in crypto do. You know, he’s like ‘ you know, and I think I want to jump out of this project. I would like to maybe consolidate some holdings’ whatever it might be. Then if you’re that type of person in crypto, then no, I would do nothing. Because you will get burned by tethering, we’ve talked about this before, we talked about last week, happened to you. If you’re a trader and you understand charts and you can look at that and say like, ‘yeah, I can pretty much expect this to drop’ then yeah, sure. You might want to go ahead and drop out of it. But for the novice, I’m telling you guys, you are much safer just HODLing, letting it go down, because
JChains: Ride the storm.
BitBoy: Yeah, even if it goes up to $10,000, like that’s not the target here, guys. The target, here’s 100 K. That’s the target. That’s where we’re going. So, to get back to Pope’s question, to get back to the Pope’s question, or Mr. Pope.
JChains: Mr. Pope.
BitBoy: It is best if you’re looking for a new entry point, in my opinion, to wait either within 24 hours of the halvening or watch what the markets are doing. Wait for that drop because it probably will drop. But I know that the great law of trading for novices is if you’re already in a position and you think you’re going to tether out and scoop up some more on the way down, you’re probably going to get burned. So that law is in effect.
JChains: You’re going to lose at least a 10th of a Bitcoin, I promise you,
BitBoy: It’s going to happen because whatever you think is going to happen, probably the opposite is going to happen. So that’s how the market reacts.
JChains: I hope that answers your question, Mr. Pope.
BitBoy: Yeah, I hope it is as well. So if I were you, if I were in your position, Mr. Pope, I would wait until the 24 hours after the halvening and see what it does and if a big red candle comes down, I will go ahead and scoop it up at that point and if it goes down further, Hey, that’s fine, you already got a scoop. You got a scoop, you know, but who knows? The wildcard in this is that 60% drop six weeks ago or two months ago now I guess it was.
JChains: That’s a good point. All right. Well, if you want to be like Mr. Pope, ask us a question ask.beards.live
JChains: All right this week on Manspreading we’re going to do a little bit of follow up with Ben because last week we talked about your TikTok Twinkie grill.
JChains: But a good side note of having this grill for your TikTok is that your family was going to be eating well. So, we talked about what was going to be the first thing that you grilled for the fam. So, what was it?
BitBoy: Burgers. That is what I said a month ago when we started talking about grilling meat. Probably do some burgers. I’ll be honest with you. We had some frozen burgers in the house, okay? The Bubba Burgers. These are not my favorite ones to grill and let me tell you what these are like. So, we grill them out and look, they tasted great. We had a great family night, I think it was a Friday night or Saturday night, great family night, grilled out the burger, it was awesome. But these are more like the size of McDonald’s Double Quarter Pounder patties, you know? I like them thick boys.
JChains: You got to get those handmade ground beef patties.
BitBoy: Exactly. So, we already had those in the house and so we grilled it. I grilled a few others; I grilled an ice cream cake.
JChains: Whoa. So, was that much like the Twinkie thing or did all the ice cream melt?
BitBoy: Oh, we just did until it melted.
BitBoy: So, we went to Dairy Queen, we actually went and saw an air show on Saturday and stopped by Dairy Queen. I was like, you know what, let me get an ice cream cake. So, I said, Hey, can I get– we went through the drive thru and I was like, ‘Can I get an ice cream cake.’ They’re like, ‘Yeah, sure.’ They’re like, do you want us to write anything on it?’ I said, ‘Yeah, write CEOofFacts F-A-C-T-S And so she looked at me real weird, she went*ben mimics* I said ‘yeah, CEOofFacts and she said, ‘Okay’ so she brought it back and put it in the back of the car, you know, or whatever and I got it home and got it pulled up. I looked and she wrote CEOofFAX on it.
BitBoy: We just grilled it until it melted. It was crazy to watch but it just uses overhead view CEO facts It was pretty but the grilling weird stuff is over, that didn’t really pop on TikTok like I thought it would. I moved on to something totally different. So now we can start focusing on like really grilling the meats. You know what I mean?
JChains: There you go. Good for you. I grilled some burgers myself the other day, which was fantastic.
BitBoy: Nice, dude. Cheeseburgers. You got to put cheese on it right?
JChains: Who doesn’t put cheese on a burger?
BitBoy: Some people don’t man. It’s weird, man.
JChains: That’s weird. You’re weird if you do that.
BitBoy: I mean. If you’re lactose intolerant we get it you know what I’m saying?
JChains: That’s true.
BitBoy: Can you not be a man and eat cheese anyways?
JChains: That’s true.
BitBoy: So, you got something you’re looking at doing right now which I mean this is some manly stuff right here. Let’s hear it.
JChains: I’m going to get a motorcycle.
JChains: Yeah, yeah, it’s been long enough, it was December since the crash. I’m feeling good. Ready to ride. I need that wind therapy. So, I’m deciding on which bike to get, I threw a Twitter thing out the other week. Kind of going through some things. I think I’m narrowing it down to a Harley. I think I’m either doing like a Street Bob, a Street Glide or Sportster 1200. We’ll see.
BitBoy: Yeah. Explain the difference between those for those people out in the audience who may not ride motorcycles.
JChains: Okay, okay, so a street Bob is kind of like a barber. It’s really more just like a minimalistic bike that has a different look to it. The Street Glide is probably what you would say would be your quintessential Harley, it’s got the big Batwing fairing on the front with the big two hard saddlebags on the back. And then the Sportster 1200 is just like a quick little nimble bike, but it’s a 1200. It’s a cruiser, it’s just like a standard cruiser.
BitBoy: So, you don’t mess with Yamaha.
JChains: Well, that’s the bike I had the one that was involved in the accident.
BitBoy: Well, I’m not saying that right. I’m about street bike.
JChains: Oh, like a Crash Rocket?
BitBoy: Yeah, you don’t mess with this? Have you ever had one?
JChains: No, I’ve ridden a couple. I can’t own one of those. I have a serious need for speed. So that would just– I would be dead. I would be dead. I probably think after the next Bull Run, I’m going to get one that’s just for the track only. And this way, you know, wear the special suit and all that kind of stuff, the neck brace and because we got the Formula One track right here where they do the MotoGP, here in Austin. So, it’s just like a couple minutes down the road from my house. So, get a sport bike and rip up the track. That’s where I’ll take out my need for speed because I really have it.
BitBoy: Well I do I say this, if you do get into another motorcycle accident, which I certainly hope you don’t. I love you. I don’t want you to do that. But if you do and you ended up like in a full body cast or something I just want you know, if you need someone to come over and give you sponge baths, I got you.
JChains: That’s very kind of you.
BitBoy: I want you to know that.
JChains: Wait until to take something so manly like motorcycles and make it not manly.
BitBoy: I want you to know, man. Hey, hey, you’re my dude, you’re my boy. I got you.
JChains: I appreciate that. That’s very kind of you.
BitBoy: That’s my best friend right there like I got you. I want you to know.
JChains: You know, I’ll do the same for you if something were to happen to you, I got you, Doug.
BitBoy: Thank you dude. I appreciate that. Man, I might go get hit by a car tomorrow.
JChains: I got you, man.
BitBoy: But that’s cool man. We’ve talked about on the show like motorcycles is one thing I don’t do, I don’t mess with motorcycles. I had growing up, we talked about on the show once before, my dad and my step dad or my dad and my mom’s fiancée at the time they ended up not getting married, I got different step dad but they both had terrible motorcycle accidents when I was kid and I just you know never got into it.
JChains: That’s my thing.
BitBoy: Now I’ve been on one time and my whole life. And it was in the Philippines. I was in the Philippines, it’s the only way to get around over there. So, I rode with somebody but hey, I’m looking at a different set of wheels. I want you to know this, I’m starting to pull my antenna up for a new ride.
BitBoy: I’ve been floating it to the wife. I’m letting the wife know–
JChains: Looking at that Hell Cat?
BitBoy: Actually, know what a new Corvette looks pretty sweet.
JChains: Ooh. Nice.
BitBoy: I will say this, if I don’t have one of those new Corvettes by the end of the year, I will be shocked
JChains: My man. Dude, those things are so much fun, my uncles got one. I think I had it up to like 135. Dude that thing rips dude. Like in no time, it rips. He’s got that and then an Aston Martin DB nine. Dude, that thing is stupid fast. Stupid fast.
BitBoy: Yeah, I can’t. I can’t wait. You know it’s been crazy though, I’ve drove my car twice in three months now, it’s crazy.
JChains: Oh, that hopefully I’ll change man. Hopefully that all changes kind of at least something back to normal soon.
BitBoy: I think it will. Well, we’re going to throw a poll on this week for you guys to vote on. Should we vote on what kind you should get? Or did you already do that?
JChains: Well, I’ll take suggestions. Yeah, let’s take a look at the poll this week, the different styles of motorcycles. Maybe what your favorite is, what do you think that I should get? We go cruiser, sport bike, like a Street Enduro, like a scramble or something like that or a touring bike like the big Harley that I talked about, the street glider?
JChains: Something like that.
BitBoy: I’ll go ahead and give my vote, my vote is to Harley, if you’re going to get one mine’s we’ll get the Harley.
JChains: Dude, loud pipes save lives, man. That’s what I’m doing.
BitBoy: Absolutely. So. Alright guys. Well, that’s it guys. That’s all we got for today. So, thank you so much for listening to Beards and Bitcoins, a Crypto Podcast for the man’s man and the ladies who love them. Each week we’re bringing you guys news, information and stories to spread awareness about cryptocurrency
JChains: That’s right and if you enjoyed this episode, please visit ratethispodcast.com/beardbitcoins to leave us a rating and review. Also, please help us spread the word by sharing your favorite Beards and Bitcoins podcast episodes on your social media.
BitBoy: And don’t forget to visit beardsandbitcoins.com to join our Telegram group today. That’s all we got. We will see you guys next time.
Episode 90: Halving Countdown—Will Bitcoin Moon?