Episode 95: Can The Stock Market Go Up Forever?

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Episode 95: Can The Stock Market Go Up Forever?

This episode is as brief but comprehensive as you can get—we cover the stock market and the Robinhood Rally, Bitcoin’s market dominance during AltSeason, and beard grooming.

For News Break, we talk about the stock market and the economy in the context of the Robinhood Rally. How does this affect the crypto space? Will the dollar collapse? Will our economic system be revolutionized? Why is the stock market going up while the economy seems to be down? We provide our insights on these questions in this segment.

In Token Time, we discuss how Bitcoin is affecting Altcoin Season. How does Bitcoin price affect altcoins? What happens to altcoins when Bitcoin rises? What happens when Bitcoin starts making these big moves?

Manspreading’s all about beard grooming—the fiber nature of our hair, beard-shaving, beard-trimming, and all sorts of emotions that we feel when we’re deciding on what to do with our beards. Should you shave your quarantine beard?

If you have questions for us, head over to ask.beards.live and record your audio question.

Time Stamps of Segments
05:32 News Break
10:53 Token Time
16:13 Manspreading

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TRANSCRIPTION

Episode 95: Can the Stock Market Go Up Forever?

 

Hey friends, we’re glad you tuned in to this episode of Beards and Bitcoins, a Crypto Podcast for the man’s man and all you beard-loving ladies. In this vast kingdom of nerdy incels, two men stand out as different from the crowd. BitBoy and JChains were both voted least nerdy in high school, most likely to have a better-than-mediocre podcast. Join them each week as they discuss all the hottest topics in cryptocurrency as well as the fan favorite segment Manspreading. So make sure to hit subscribe and turn on those downloads. Here are the dudes, Ben and Justin.

BitBoy: Hello everyone and welcome back to the Beards and Bitcoins podcast, a Crypto podcast for the man’s man and the ladies who love them. I’m your co-host BitBoy, this is your other co-host, JChains. Good to see you, Chains, what is going on this week?

JChains: It’s actually good to see you too good, sir.

BitBoy: Oh, that’s right. Nerd alert. Nerd alert. Obviously if you have glasses, you’re a nerd, right?

JChains: 100% I got my nerd specs. On. Things are going good, man. Another day in the life, pretty excited about today’s show. How about you?

BitBoy: Absolutely. Man, I feel like something’s rumbling in the crypto space right now. I feel like bitcoins getting ready to blow. Like that’s how I’m feeling right now. What do you think about that?

JChains: I mean, you’re seeing some Alt pop. You’re seeing some rumblings. I’m really excited to talk about that, actually on Token Time. So actually, really quick, I’ll tell you what we got going on in the show, because it might explain a little bit more than that, right. So, for News Break we’re going to talk about what’s going on in the stock market. And I don’t know if you’ve heard of this thing called the Robinhood Rally, but something that would be good to discuss because I think it’s important. On Token Time, we’re going to talk about Bitcoin and actually about its market dominance and how that’s going to affect Alt Season. And then we’ll get into a little bit of beard grooming techniques, styles, advice, whatever on Manspreading—just man stuff, right?

BitBoy: Yeah, absolutely, man. Yeah, so also, we got a show for you next week, obviously, but I’m going on a big trip next week. It’s pretty exciting if you’re in demand stuff, okay. Going to Vegas during the pandemic.

JChains: Oh, it’s open. I saw a video; I think that was last week Vegas opened. Someone was shooting something going through a casino. So super exciting, man. I’m super excited for you to get back out there, get in the action. I know that you’re a poker player. But you said, things are a little different right now, right? Because of the table setup. So, does it do?

BitBoy: Things are sketch. So, we’re going to be staying at the Venetian which has I think the best poker room in Las Vegas. But the Gaming Commission, the United States Gaming Commission has said that you cannot play more than five handed, so there’s only going to be five people per table and they’re also going to be doing like five people sit and goes. There’s no tournaments going on right now, won’t be for a while and I don’t know how long it’s going to be for the ease up on these restrictions, but it’s just also silly, honestly.

JChains: Everything is so silly. I mean, you see like the crowd gathering and how people are being urged to go do that yet, you still can’t go to your grandma’s funeral, God if she passes, something like that, things are a little backwards. I know that like you said the gaming Commission’s and cities and local municipalities, whatever they’re working to get things back open for everybody but let’s just be on with it.

BitBoy: Well, at this point it’s moved strictly into political correctness. That’s basically what it is. It’s like all of these places are doing this stuff for show 100%. Like, obviously, if you see these riots going on in these inner cities, you will see that no one gives a flip about social distancing. But we got to pretend that we do, we have to pretend that everybody cares. People care about stuff when it’s convenient to them really is what it boils down to. And, you know, when people are trying to make the economy look bad, they want everybody to social distance. When they want to have a political rally. It’s okay, it’s totally fine. So, all this stuff is just driven by hype and ‘sensationalization’ of this pandemic, which is turned out to be a big flop compared to all the numbers that we were given. So, I think that kind of ties into News Break, also.

JChains: Yeah, absolutely. I’m really, really interested. I don’t know that we can talk about this for a long time but I’ll say one more thing. I’m going to be really interested to see what happens in the next probably seven to 10 days because we’re already, well into a week of protests. So, with that 14-day incubation period, if there’s going to be a round two, it’s going to be happening pretty soon. I know that they’re starting to see cases rise, but again, I don’t think anybody trusts anything that’s coming out of the government right now.

BitBoy: There’s going to be no rising cases. There just isn’t going to be, in my opinion, I don’t think so. I mean, like I said, it’s all turned out to be a bunch of hype and closing the economy for craziness. So, we’re going to talk about that here in just a second in News Break with the economy and stock markets and things like that. But first we do want to tell you about our sponsor, Beards and Bitcoins Crypto Podcast is brought to you by Monarch wallet rule your own financial kingdom from the palm of your hand.

JChains: That is right, Ben. The team at Monarch, they are working hard to bring you the one app to access all the best crypto services. These guys believe in delivering tech, not hype.

BitBoy: That’s right with the universal decent rise Monarch Wallet, you can buy, store, spend and earn crypto. With Monarch Pay, you can set up and accept recurring crypto payments.

JChains: Nice, nice. Well, if you need more information, make sure that you check out monarchwallet.com or monarchtoken.io today.

BitBoy: Alright, that’s right. Well, let’s go and jump in to News Break.

 

5:31 NEWS BREAK

JChains: Alright, this week for News Break, We’re going to be talking about what is going on in the stock market. I mean, it’s just unbelievable if you’re paying attention to what’s going on in the economy here in the United States. And then to see companies that going bankrupt, filing for bankruptcy. They’re throwing up 1x, 2x’s, I mean, it is just insane. They’re calling it the Robinhood rally. So, what’s important is how does that affect people in the crypto space?

BitBoy: Yeah, and I think it’s really interesting because like there’s this narrative in cryptocurrency and it really lines up with everything we believe in crypto, which is the dollar is going to collapse, the entire economy is basically fake, it’s a giant fake economy, pumped up,  kind of like China’s is almost, and the one day it’s all going to crumble and our entire economic system is going to be revolutionized, but I’m really becoming of the opinion that none of that’s true, you know.

JChains: Yeah, I mean, that’s a good point. I mean, what like, I don’t know, it’s, it’s tough to say, I mean, nobody has a crystal ball. So, you don’t really know what’s going to happen.

BitBoy: That’s not true. I do know people have crystal balls. They’re called psychics.

JChains: I will actually bring it up. It’s not accessible for me right now, but I literally do because I used to be a hippie guy and collect gemstones and crystals. I do actually have a crystal ball—it doesn’t tell me the future but I have a crystal ball.

BitBoy: Hippie alert.

JChains: Man, I’m just getting hit with all sorts of all the alerts today.

BitBoy: In a couple weeks we’ll have some sound effects for that, okay.

JChains: Oh, that’ll be good.

BitBoy: Yeah, we should do a show- I’m going to cut you off again because I need you to know this. We should do a show where we go to a psychic and ask her what the price of bitcoin is going to be.

JChains: Dude that would be fun.

BitBoy: That’s a great idea and isn’t it?

JChains: Yes, and what I like about it more is that it gets us together and we could do live shows.

BitBoy: Dude, I love it. We got to do a live show soon. Okay, continue I really want to hear your thoughts and opinions on this.

JChains: Alright, so back into this, right? So, this is the largest 50-day rally in history. The market every S&P 500 stock is up within the last two and a half months. And like I said earlier like there are several well-known companies that have either filed for bankruptcy, are filing for bankruptcy that are thrown up 1-2 x’s right. How is this happening and people are saying like ‘Okay, so we’re in a recession. How is the stock market pumping this hard and obviously the brrr machine is printing, printing printing’ so that It played into it. But they’re calling it the Robinhood Rally.

BitBoy: Why is that?

JChains: Well, because you’re seeing a lot of not institutional investors getting in the game. So, you’re seeing a lot more and obviously because everyone knows that the market is just not stopping. So people are like, ‘oh, screw it, I’m throwing money in the stock market, because it’s just not stopping’

BitBoy: New retail investors in the stock market.

JChains: Yeah, but they’re all going to get toast, you know, it is, you know, this, the pins going to pop this thing.

BitBoy: I don’t know, Justin, I don’t know about that. Like, that’s what everybody keeps saying, look, here’s the thing about financial markets, they tend to do the opposite of what everybody thinks they’re going to do and for the last several months, everything’s been recession, going down, it’s going to pop, you see the rally go up and everybody says it’s a sucker’s rally, it’s not going to continue. But our economy was extremely strong before this pandemic hit. And now the pandemic hit, a common thought that we’re going to go down. But then a lot of people believe— and if Donald Trump has said from the very beginning that and Steve Mnuchin as well—that we are going to see a V-Shaped Rally where we’re going to drop down and collapse, and then we’re going to shoot back up. And that’s what we’re seeing but that wasn’t the popular thought most people thought the opposite would happen. So, look, here’s what I will tell people do not underestimate the government’s power to pump their own economy.

JChains: Oh, I mean, especially in an election year, man, there’s just no way that they’re going to allow the economy to collapse this year. I mean, if who knows what’s going to happen, I actually don’t even want to start thinking about the debates for this election year.

BitBoy: Yeah. Oh, it’s going to be fun. I’m excited about it, honestly. I can’t wait. I can’t wait for the whole thing. I love politics, personally. I don’t talk about it a lot on the show, obviously, but I do love politics and I do have strong political opinions that I do not voice.

JChains: I am right there with you. I don’t want anybody yelling at me for the way that I think.

BitBoy: Yeah, yeah, exactly. Because it’s weird online, everything’s just kind of an echo chamber or a troll box, it’s one or the other. So, it’s like, half the people are going to agree with you, half the people are going to disagree with you. And then God forbid, you don’t align with your own party on one subject, and then you get attacked by both sides. It’s just crazy. So, it’s just better not to talk politics at all, just talk your politics with your vote. That’s all you can really do. I mean, put your vote in and that’s how you affect things. So but listen, speaking of affecting things, let’s go ahead and jump into how Bitcoin is affecting Altcoins here in Token Time, but don’t forget, before we do that, you guys to take a break here and go check out BeardsAndBitcoins.com, you can check out all of our content there, along with sign up for your 21 Best Bitcoin Practices Guide if you are new to crypto. So let’s go ahead and jump into Token Time.

 

10:53 TOKEN TIME

BitBoy: Alright guys, now we’re going to do a little something different for Token Time because usually for Token Time, you guys know we talk about a coin, we pump it, we talk about it, talk about the numbers, we do the whole thing, right? But we’re doing something different this episode, we want to talk about Altcoin Season and more specifically, what that actually has in relationship with Bitcoin dominance because before Altcoin can pump, bitcoins got to do some things. So, tell them a little bit about that, J, what do you think Bitcoin has to do?

JChains: Well, we can get it out in one second. So, right now you’re looking at about 65% Bitcoin dominance, right? So what it has to do is make a big jump, like you said, whether it’s up or down. Now, like if you go back, say to like, 2013, to  I’d say the first beginning part of 2017, right, like, I think that it didn’t really go any different than like 95 to 77%, right? Like it just kind of stayed in there. It bounced that whole time. Now, obviously, we know what happened in 2017. 2017 was that’s where the Bull Run was going to take place, right? So, if you saw from like, March to June of 2017, Bitcoin dominance dropped from 86% to 37%. Now that’s just like, three, four months, right? That’s a little bit of time. But we all know when the Bull Run really started happening was kind of that second half of 2017, where you see it go from the high 30s shoot up into the 60s, right? So, you’re seeing from the beginning of the year to the middle of the year. I mean, it goes, huge spike down, and then a huge spike back up. But most importantly, when we get to, like the second half of 2017, that’s when you see like a big drop again. So, the big Alt Season was at the end of 2017, right?

BitBoy: Yeah, that’s when everything was pumping,

JChains: Everything was pumping, but then, you see again, you see the Bitcoin dominance dropped from 62% down to like 32%. And earlier in the year it took, like, four months to drop 60% or whatever it was, well, now we dropped 30% in a matter of a month, I mean that’s just like when the true Alt Season happened. So, in order to trigger these Alt Seasons, Bitcoin has to make big moves.

BitBoy: Yeah. Well, what happens is when Bitcoin starts making these big moves, people start selling their Bitcoin and moving towards the Altcoins because everyone understands—all your new retail investors, anyone who doesn’t have $100,000 in Bitcoin—they all understand they’re never going to get rich with Bitcoin. If you have $50,000 in Bitcoin, you may have a shot to one day be a millionaire with that, okay? There’s going to be down the road, years down the road, but if you got $2,000, you’re not going to get rich with Bitcoin. You’re just not going to do it.

JChains: Not happening.

BitBoy: Right? So, what happens is this kind of the gateway drug for people to get into crypto say, ‘buy bitcoin’ and then at some point, they realize like, ‘Okay, well bitcoin’s already had these huge pumps in it. You start doing the math like I got $2,000 in like even if it goes $100,000 I’m going to have like 20 grand, but that’s not going to be enough to really change my life’ and so people say, ‘How can I change my life?’ And that’s when they start letting those gains flow out of Bitcoin and down into Altcoins. And the savvy investor who does have a lot of money in Bitcoin, they kind of go through that same process because they say to themselves, like, ‘Okay, Bitcoin feels like now it’s a little bit running out of gas, how can I keep the pedal down?’ And that’s when they start flowing down to the top 10 projects, then to the top 20 and then down beneath that.

JChains: I think one of the things that’s really important about that is when you when you kind of think about the psychological aspect of all of this, and I mean, you got to remember to take profits, right, like all of us got toasted for not taking profits. So I think that as we kind of mature in the industry, and as we see like some more cyclical things, just remembering to take profit, I think that you’re going to see you know, when those Bitcoins spikes, sell it off, and then get into Alt Season because like you said, Man, you just you’re not going to get rich if you don’t have more than 10 Bitcoin, you’re not going to be a millionaire.

BitBoy: No, no, I mean, who knows? I was looking at something today that said Bitcoin would go to 10 million in five years, but let’s be realistic. I mean, a lot of people think we’re unrealistic for say he’s going to hit 100k, you know. I think it will for sure. There’s no question about it.

JChains: It needs to get a $3 trillion market cap, right? in order to hit that number, something like that?

BitBoy: Well, that depends on the dominance.

JChains: Yeah, that’s a good point.

BitBoy: It depends on the dominance

JChains: That Bitcoin Dominatrix.

BitBoy: Oh, you’re getting dirty with it. Why don’t you tell them about our Telegram?

JChains: Yeah. Hey, again, like, like Ben said, you know, this one was a little different. Typically, we’ll talk about a project. So, if you want to join our Telegram, you can come chat with us. We’ll talk about your favorite projects. We’ll talk about crypto, we’ll talk about Manspreading motorcycles, tattoos, anything you want. We’re always in there. The address for that is t.me/beardsandbitcoins. Come talk to us and we’ll see if what you’re talking about shows up on a Token Time in the future.

 

16:13 MANSPREADING

BitBoy: Okay guys for Manspreading, we have what could turn out to be a real turning point in the show, you know the show’s history possibly in the future. We might look back at this date as the singular episode that destroyed this podcast. So, what I want to do is I want to ask you right now, Chains. Can you tell everybody about the decision that you’re weighing out in your mind?

JChains: I can, I can. So, we are going on our, I don’t know, ‘something’ consecutive day in the hundred-degree weather here in Austin, Texas. My beard is very thick, lovely and luscious. However, it is extremely warm outside with it. So, I am playing with the idea of shaving off the beard with the exception of say a five o’clock shadow and leaving either a handlebar mustache or just a standard mustache. I don’t know if our listeners, if you all remember when we had Aaron D Johnston on the show, one of the things that we talked about was at some point every man should grow their beard out for a year without cutting it.

BitBoy: Yeah, I do remember that, for sure. I can’t do it though. Like my beard doesn’t grow that way. I cannot look that scraggly. Like when my beard starts growing out like y’all seen it before on the channel when it gets big it’s like poking out hairs or sticking out, there’s something about my beard it’s just not coarse enough I think, you know.

JChains: You think it’s the fiber nature of your hair that doesn’t allow it to get thick and luscious?

BitBoy: Yeah, which is weird because you know my hair on top of my head is so thick and luscious. You know like I’ll never lose my hair, it’s beautiful.

JChains: Maybe, you need a good beard oil.

BitBoy: Maybe, I should try some vitamins, some other stuff, try to really amp this thing up. But I’m just content, I got the beard, it gets a little crazy, I trim it, it still looks good. I just think it looks sharp and I’m just going to go with it. But I want to share one thing with you J, like something that I think is going to encourage you to go ahead and just cut that beard off. Okay, here’s the thing. When I cut the beard off, do you remember when I shaved my beard?

JChains: I remember that.

BitBoy: It was the worst decision of my entire life. And so, I want to encourage you to go ahead and do it this one time. Because what it’ll do is it will allow you to come to this realization that you’re completely stupid and you would never ever do that again.

JChains: Dude, first off, I am absolutely no stranger to any of this. I’ve disappointed myself countless times throughout my life where I want to shake it up a little bit and I’ll shave and I will just be like-

BitBoy: “What did I just do?

JChains: If you could punch yourself in the face sometimes, I’d do it. I mean, but I’m like the idiot that I can’t even trim my own beard like I have to get it professionally done because it’s probably happened—and I’m not even joking. I’m not exaggerating at all, maybe three to four times in my life—I’ll be trimming my beard and I’ll sneeze or something will happen and I’ll take a big chunk out of it. So, I don’t even trust myself to trim my beard.  I’ve done that to myself.

BitBoy: I shaved my eyebrow off, one time.

JChains: I remember that story. So, I am no stranger to disappointing myself and I was talking to my wife about this too. I’m like, you know. I went to the bathroom, got the clipper and I was ready to go and I came back out. I know exactly how I’m going to feel after I look in the mirror, after shaving off my beard. I’m just going to be so mad.

BitBoy: You’re going to look ridiculous, because I look like a small child, okay? Now listen, here’s the thing, I think there’s really only one way to truly decide on what you should do with your beard.

JChains: We should let the people decide.

BitBoy: Twitter poll, Twitter poll. “Should Chains shave his beard? Yes or No?” And remember guys, he’s really hot. He’s really hot, he needs help, okay? He’s really hot, it’s so warm in Texas.

JChains: Instead of just being a “Yes or No” can we stage it? Could be like, “No leave the beard” “Yes, handlebar mustache” “Yes, just straight mustache” or “Just wipe it clean.”

BitBoy: I mean let’s put it to the people, man. I mean, we are a Crypto Podcast for the man’s man. We got to get the men’s opinion. You know?

JChains: I would appreciate it if some of you ladies, listen and vote on this too, please.

BitBoy: Yeah, we got to find out, should Chains shave his beard? And what style? So, we’ll put a poll up this week. So, you guys can vote on that, my vote is ‘No’ keep it the same and be a man. That is my vote personally. But I also did tell you to go ahead and actually shave it off. That’s probably for my pure enjoyment. But as a friend, I’m going to say no. So, look guys, this is all we got for today. This is the whole episode today. And I know you guys are going to come back next week because you guys are going to be super excited to find out what Chains is going to look like it could be drastically different.

JChains:  I could look like a little baby, man.

BitBoy: A little baby man? Yeah, you could look like a little baby man. I like that. Alright guys. We will catch you guys next week. Hopefully Bitcoin will be over 10k, let’s get it

JChains: See you.

 

Thank you for listening to the Beards and Bitcoins Crypto Podcast. If you enjoyed this episode, please make sure you are subscribed on your favorite podcast platform and help us spread the word by sharing your favorite Beards and Bitcoins podcast episodes on your social media. Also, make sure to follow us on Twitter @BeardsBitcoins to participate in the weekly poll, chat and share fire memes. Oh, and don’t forget to visit our website BeardsAndBitcoins.com for more episodes, information and Merch today. See you next time.

 

Episode 95: Can the Stock Market Go Up Forever

 

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