NVIDIA Earnings and RWA Season is HERE

0:57What is up, everybody? Good morning. Welcome back to another episode of Full Port. I am so excited. There is, again, a moment here in this bull market on chain, off chain, everywhere around you that you have to take opportunity of. And again, last night or yesterday afternoon, going into NVIDIA earnings, another opportunity to make money. And we want to help you make money and understand how to navigate the financial markets across the globe.

1:26G Money, how are we doing this morning? Are you ready to jump into things? I’m fired up.

1:31I mean, I’m feeling very, very good. I have a shitting grin on my face.

1:36You know, I guess, you know, the the bell of the ball and video reported numbers last night.

1:43You know, we’ve been highlighting it for a couple of weeks here on the pod of how important that is into the back half of August and what that means for the AI trade. Nvidia delivered you know, so the numbers were good. I think it was a slight miss on guide on gross margins for next quarter, which was due to memory spend, right, increase in memory costs, which we knew was coming. So I think that’s what caused the sell off before the conference call. And then I think like the third or fourth sentence on the conference call was we expect revenue to grow by 77 percent next year. And the street was at 45 percent. So it’s pretty much almost double what the street expects. Unlike, you know, this is the largest company in the world that just talked about revenue growth. So when the narrative has been like, like, you know, the snowball has to stop rolling at some point here. And this plays into our entire conversation around CapEx is not slowing down. This is a government backed industry at this point. It is is equivalent to the nuclear arms race. It’s a national security thing. And I think the biggest one has been all these articles and all this media attention around like AI spending and AI adoption has kind of hit its plateau point. That being a farce, as we see,

3:16you know, again, NVIDIA’s numbers are just too strong for you to deny there’s more coming.

3:22Okay. So a couple of things. I totally agree with you. If you want to bring up my screen real quick.

3:28The reason why I started getting bullish on NVIDIA a couple of weeks ago was this is the weekly chart. So each bar is one week. Right. So going back, you know, in December of 2022, it was at around $15 a share. It traded all the way up to almost 240. Right. And it’s kind of been like range bound now, you know, for whatever, let’s say a year, right a little over a year. And I this just looks incredibly bullish to me, from a long term perspective, just on the setup on the chart, right? Now, when you want to take a step back and kind of exactly what you said is like, I think everybody on the street is skeptical about these numbers. But I think this goes back to like, why I think using the product is super important, because by using the product, I could tell you, like, you know, how awesome it is, right? And even like, you know, there was a lot of, I think, conversations, there’s still conversations around our people, are we overbuilding CapEx and whatnot. But I think, personally, what we’re going to start seeing is, you know, and I saw comments from, I think the head of product at cursor, which is now owned by SpaceX, said something of like, this is the fastest adoption or demand we’ve ever seen for any product we’ve ever

4:47created. And they created cursor, right? So cursor like came right out of the gate, as a, as a what’s it called, as a as a harness, that was like, everybody really loved, and then everybody started building their own harnesses, and it kind of fell off, got acquired by SpaceX.

5:02And now they’re building out Brock bot. And like I said it last week, or, you know, a couple days after it came out, that like, I really like rock by I like it’s very easy to use, right? And that’s, I think, when you want to get consumer adoption, and I think like, for me, it’s like more, okay, step one is, how do you use LLMs as chatbots to ask questions to do like simple things, right? Then the next step is how do you get create agents to do things for you on repetitive tasks, you and me have been doing those things, people at the front end of the curve, have been doing those things with cloud code, with codecs and all these things. But like, you have to go into like, you know, the terminal prompt, and you got to be like typing, you’re like, you know, hacking, pretty much, right? Like you’re being like a hacker. And now, rock bot has really like, I feel made accessing agents and creating agents for specific tasks really easy. I think it’s only a bit easier. So then, how do you extrapolate that out? That means that there’s probably gonna be an increase in demand. Because if people are like, oh, I’m gonna have this thing run every day to check the sport, like, like, for instance, one of the

6:12things I’m going to do is I’m going to use a grok bot to manage my fantasy football league.

6:18I like I signed up, I signed up for one with some college buddies, like, two weeks ago, like they had somebody drop out. And they’re like, Oh, do you want to sign up? And I was like, Yeah, I’ll do it. I’m like, why did I say yes, this? I’m like, you know what? I do it every year.

6:33Yeah, I’m like, you know what, I’m just gonna have my AI run it. And we’ll see like, I like, I want to have like, no, I want to have no input in management. Yeah, do you know how many do you know how many people would have finished higher in their fantasy league just by not starting bench players that like rock, but well, I’m gonna have my guy, I’m gonna have my guy like hounding the waiver wire, I’m gonna have I’m like, I’m gonna be running it as if it was like trading so that like, as soon as something happens, and maybe like, somebody’s on like the injured reserve list this week, pick up his backup right away, or whatever. I don’t know what the rules are, but like, whatever. But like, there’s going to be so many use cases for this on a go forward basis, in my opinion, and that’s why I was like bullish on NVIDIA, right? You listen to Gavin Baker talk for more than the last month, and he’s like, you know, I’m so bullish on NVIDIA here, right? And again, like from a chart perspective, it’s consolidated a bunch.

7:30If we break it down and going down to day by day, right, like, dude, like it was it was down into the print. You know, just the fact that it hasn’t been moving higher means it was probably like, if people were playing pairs on this, like they’re probably long something else short NVIDIA.

7:47Can I hit like these numbers? I it’s really hard to be short. I you know, I don’t know how you can really justify a short. And you know, I will say, you know, the king of doom mark, my, Mike O’Bury himself, I think he said he put on NVIDIA calls as a hedge long, right? So even he sees how how possibly undervalued they are. So I don’t know, I think this is the beginning of a bigger move on NVIDIA. If anything, I think it tells you how strong the AI sector is. And, you know, again, I have this nebius. I think Micron was up this morning, I saw, and then I think it went red. Yeah, it’s red, it’s down 1%. But, you know, again, like, I just think that like the trade kind of stays intact. You know, again, there’s there’s going to be there’s always going to be like right now. I think the from from the couple things that I was reading this morning is like the bear case is like, you know, is this pull forward demand is this peak cap X, you know, we’re not gonna we’re gonna have oversupply. I mean, I just don’t I just don’t believe that I just like I know it’s always dangerous to say this time is different. But like, again, go when you think about how useful these things are, and like, I don’t think we have any models that

9:08have been released yet, that have been trained on Verre Rubin chips, I think fable might have been the first one maybe. So like, imagine what starts to happen. When we get everybody training models on Verre Rubin chips, these things are going to become much better. And if they become much better, they become much more useful. And then demand spikes, right? So I don’t know, I know, I’m like an AI bull. We’ve been AI bulls for a long time. But yeah, I just don’t see how I don’t see how you can read this NVIDIA print and be like, that’s the top. You know, like, if anything, I’m like, you’re getting ready for the next like, I’m like, I think, again, it just kind of disapproves a lot of the bear cases that we saw, which was revenue guidance is going to become weaker. They’ve squeezed, you know, the juice as much juice out of this as they can. And, and, you know, hey, that was a great, you know, cycle run. I just don’t see, I don’t see, and especially after using the technology and understanding, like my use case and adoption has only increased over the last two weeks. Yeah, if you’re not using this stuff, you’re kind of on the sidelines trying to like, you know, coach a game you’re not even in or have not played.

10:28So I think that’s one thing I certainly learned from like the NFT and crypto cycle of like 2020 to 2021 was if you’re not actively using this stuff and touching it, you will miss opportunity slash be skewed by what you’re just reading on the timeline or in the media. There were points where, you know, people are saying, hey, this stuff will never be adopted. It’s impossible to buy. Meanwhile, if you just went on OpenSea, it was like, oh, wait, that’s disproven. Even other things about like people bull posting like Bitcoin, NFTs and stuff like that, there were ways to, you know, know where it was going to be accessible and not accessible, where that value would flow. You got to use stuff. That’s the point I’m trying to get to. Yeah, I mean, that, that I feel like I made a lot of money in my life by using stuff. Yeah, I feel like I was, you know, I was I was actually I was having this conversation because somebody hit me up on the loan I took out against my ape this week. We got to cover this. I mean, we didn’t even pull up the tweet from Connie.

11:36Because it is. Yeah. Let me let me pull it up. Yeah. So when you said using stuff, I my mind actually went immediately to that loan, which is, do you know how many people have dis like completely written off the use of loans against NFTs? Which I think is, I think it will be one of the larger markets that we see come out of the NFT ecosystem.

12:02Because of this idea of like, you have art, you have things that have value.

12:07And if you look at the modern world of this, if you’ve art in your wall is nearly impossible to get a loan against it. If you have, you know, a car in your garage, it’s impossible to get a loan against it. I have an NFT, there’s a fair market value for a liquid asset or near liquid asset. I can literally within two clicks, go on to Gandhi and get a loan against an asset and be able to come back and pay it off. Within that, you know, duration of that loan. You just did this, you were you notably you did a million dollar loan on this same eight, I think like two years ago, also using Gandhi. Yeah. And now you come back to do it again, $550,000 principal loan for, you know, six months, six months. Yeah. I again, like I just to me like, so I’ve been I think the largest like on chain loan a couple times.

13:02The first one was actually like I think it was a $25,000 loan. And that was in like November, October, November of 2020 against a crypto kitty. And I remember, yeah, like, but like, again, that goes back to like using the stuff because like, I remember my friends were like, why, why did you take out the loan, whatever, this net kind of giving me shit for it.

13:22I’m like, well, listen, like, my bet is that this becomes a larger primitive over time.

13:28And like, what better way to understand how it works than to use it, right? So I use these things, right? And so yeah, like, to me, like, again, to your point is like, what I like about this is, I literally, I literally talked to the team on Sunday, and they sourced the loan by Monday.

13:49I mean, that’s, that’s crazy. Like, if you think about like, if you think about how mortgages work, mortgages are asset backed loans, right? Like, you’re putting up your house as collateral.

13:59Takes you months to get a mortgage. I literally got a loan, it’s my NFT in 12 hours. I probably could have, I probably could have filled it by Monday morning. I was just like running around and stuff. But like, it’s so crazy how quickly you can get liquidity. Now that we got to work on the rates, I will say like the rates are decently high, are very high, you know, I’m paying an effective 17% yield. But I think that will come down over time as people understand, like, you know, that this, the apes probably worth, I don’t know, two to two and a half million.

14:32Maybe, like around there, maybe more, right? So it’s like, it’s, you know, it, like the lender wants to default on the loan, they, they’ll, they’ll make a ton of money if they do. Yeah.

14:40Right. So, yeah, I just think like, to me, this is what I loved about crypto, when I first got in is the ability to have true sovereignty over yourself and your assets and be able to do this.

14:55And, and that is like, I compare that to me trying, like what I just went to get this loan, compared to trying to wire more than $10,000 out of my bank account. And I get, you know, flagged, and I got a call and verify it’s me. And then I spend 45 minutes on the phone where they’re asking like, do you know where the funds are going? Like, you know, are you aware? All this, like, it’s like, dude, yeah, I’m aware. I’m a full grown adult. Like, I don’t need you to, to safeguard me from myself. So, yeah. So this is like, this is why I love crypto is like stuff like this. Right. Is it, is it, does it come off weird to you? You can just get this money for this app, like this asset so easily. Is that, is it like, no, it’s awesome. Yeah. Okay. No, it’s awesome. It’s not weird. It’s awesome. It’s like, yeah, dude, like try getting a loan against real estate. Like you know how long, you know, they ask you for your social security number, your tax filings, your credit score, all of these things, right? To give you a, some percentage of the value of your house. When in the reality, it’s just like, you know, if you don’t pay it, they would just foreclose on you, right? Like granted, there’s like a little

16:10process there. Where if I don’t pay the NFT loan back, like the lender takes possession immediately. Right. So it’s not like a whatever six month lag of due process and stuff like that.

16:22So like, there’s like less friction because it’s a digital asset, but I don’t know. I think this is crazy. I think this is awesome. Like this is one of, I think like the first time I did, the first time I used Aave was like my first holy shit moment in crypto, like during DeFi summer, when I could put up ETH to borrow more ETH. And that was like, holy shit, this is fucking insane.

16:49And I think this is like the same type of thing, right? Like here’s an asset that has some sort of value. Somebody’s willing to put out a loan against it. And you know, I’m, you know, I obviously think I can beat a 17%, you know, effective APR and whatever. Like I take on that risk, right? Yeah. Well, I have a question about the capital. But first, like my I’m not sweeping NFTs. I saw that come through. And I was like, oh, damn, quote, Tron’s floors about the truth.

17:20I, the one thing that, you know, becomes really interesting is I said how cool it is to be able to, you know, one click, two click, three click and get a loan against an NFT and have that money in your account immediately. What is interesting is I think we’ve seen, and I guess disclosure here, I’m an investor in Gandhi. So, and I use, I’m also an investor in Gandhi. So love the product, love the team. So notably, from what I know is internally happening, there’s more use, there are more assets coming on to the platform. They’re seeing more loans going out. This is before the RWA meta happened with the RWA meta taking off. And while we’ve seen it kind of play in the equities space mostly, I will say I’ve seen more watch companies around the RWA and vaulting space take off. I’ve seen some stuff in like the purse space, or like these high value purses, jewelry, other things. In the world where we see houses, cars, these more commonplace assets that do have markets against them, do you think we see a explosion in the NFT loan market over the next 18 months? Do you think that’s a plausible thing that we see happen?

18:43I like for it to happen. I think part of it is one, you need good collateral, right? So I think like the hard part during this past cycle is there wasn’t really much good collateral. Like if I were to be a lender in the NFT space, like it’s probably crypto punks, maybe some high value art blocks, collections, pudgy penguins.

19:08That’s kind of like mature assets. That’s kind of what I would. What mature assets? Well, I don’t know if they’re more mature. I mean, like these things are all like under 10 years old. So I wouldn’t say they’re the most mature in the world, but they’re maybe like less volatile, right there. Or I don’t have to worry about them going to zero over over the course of the loan. But I do think what ends up becoming really interesting is what does it start to look like when I can borrow against something that actually kicks off yield? Because then you really, really, really take away a lot of the risks, right? Because that’s the way like, part of the reason why mortgages, they ask you for your income tax and all this stuff, because they’re like, all right, well, how are you, you know, you have enough money to pay this off, right? Like, are you just going to yield all it into, you know, a Bitcoin up or down in the next 15 minutes, right? And so, and so like they obviously want to protect themselves. So I think when you have some sort of yield, and this is why I think what the guys at chip are doing is really interesting, because you’re lending against GPUs that produce yield, right? So it’s

20:19like the loans are paid for with the cash flow of the GPU rentals. So I just think that like, I think there’s a big market, you know, and I think part of, you know, there’s been a lot of a lot of company, not a lot, there have been a couple protocols that have launched for lending protocols. I think Gandhi is the last one, last man standing at this point. And like, well, shout out to the team, I think they’ve been doing an incredible job. But yeah, I think like, I even remember last cycle, you know, people were like, Oh, you can like lend against these in game assets, because the in game assets were producing yield. But like, I do think like you want a stronger source of yield that’s like more sustainable, right? So it’s like, you know, a dividend from like a stock or whatever, right? Like something that is just like a cash flowing asset that’s not just reflexive on itself, I think becomes interesting. So I think the market is going to grow really big. You know, I’m a natural user of it. There are others as well, that will use it. And like I said, I love it, because it gives me near instant liquidity.

21:27Like if I need something, that’s kind of like the way I use it, I use it for like, you know, instant liquidity, I have to really need the money or want to use the money, obviously at that interest rate. But again, it’s like, if I were to take a HELOC out in my house, you know, it’s like that’s like a three or four month process. So right.

21:48Yeah, I, the nice thing is, we were seeing more NFTs with built in yield. That’s become a topic of the last two weeks. So I would be very interested to see how that plays out over the next few months here. Especially if Gandhi adopts allowing a way for that yield to go to the lender automatically. You would see those assets probably start to have more demand.

22:16And it kind of introduces just a whole different dynamic. It’s super exciting.

22:21Where’s where’s the money going? Where are you putting the $550,000 to beat the 17%?

22:27Putting it to work. Putting it to work.

22:30You’re like Kevin O’Leary. You’re like, you know, Kevin O’Leary, come on, bro.

22:35You not disrespect me like that. Jesus Christ. Wow, dude, you’re acting like I walk around two watches in a baseball card around my feet, around my neck.

22:46Have you ever worn two watches at the same time?

22:49No, it’s gross. Like, it’s so tacky that and like whatever this Pikachu card or whatever he’s wearing. What is your most regrettable fashion flex you’ve ever you’ve ever done?

23:01Oh, there’s got to be like one fit real like, yeah, that was not it.

23:07I’m trying. I don’t know. I can’t think of it off the top of my head. I think as a trader, I’m conditioned to when something bad happens, just like, like meditate on it, think about it, and then forget about it because you have to forget about things and move on. Right.

23:21So I think like I have a like I just like I don’t I guess I don’t have like, uh, I’m just trying to think maybe like when I was younger in my 20s, like, just going out wise, I’m like, Oh, man, I can’t believe I was wearing that stuff.

23:36Well, you got to remember, actually, you know, you know what I had, I had this shirt that me and my boys when we were in our 20s, we would wear sometimes when we went out and it said I heart to LARP. And this is when nobody knew what LARPing meant.

23:51And like, I don’t know, but we somehow stumbled upon these videos on YouTube, like whatever 20 years ago. And like, it was so funny. And sometimes when we got really drunk, we’d start LARPing in bars and people had no idea what was going on. And we knew I mean, what like we’d be like frog walk, kind of like, you know, that guy computer?

24:11Yeah, you know, that guy. Yeah, Biden blast. It was like our version of that, like 20 years ago, like, like we were doing that out at bars and people were like, like, get out of here creeps. Meanwhile, today we’d be Instagram famous. So we did it.

24:25Well, the LARP Maxing has become a huge meta here. But the nice thing is that with everything being on chain, everything being verifiable, they just click on a profile and see what somebody’s P&L is.

24:39The LARP has to a degree decreased. I’m hoping I’m hoping I think that’s like a world of finance that we start to see become more prolificated is just more things just becoming instantaneously verifiable. And so let’s let’s talk about that for a second. Because like, I see like, again, like, I think you and me, we’re kind of we kind of view this thing similarly, but not not entirely. I still am of, like, the idea that, you know, the, the, like, the best traders, the people that make the most money, like, they want to they want to operate in secret, like, they prefer you don’t know how much they make, you know what I mean? So like, I just think like, even like, for me, for instance, like, whatever I trade, I do a lot of trading on my main wallet, gmoney.eth. I also have other wallets where I do other shit, you know, for size and not size or whatever. But yeah, I don’t know, it’s just like, it’s just weird. I don’t know. I like, I do it. I like the fact that in order to, to know what I’m doing on chain, like, you kind of have to like, dig in a little bit. And it’s not like, on FOMO, where, you know, it’s like, immediately, everybody can see it. Let’s dig in. Let’s dig into this. Because I

26:05think, I think this is probably, and maybe this is good for listeners to see how at least my brain works for finding. I’m also, I’m also older than you, right? So it’s like, maybe part of a generation. But I think, I always think the money is where there’s inefficiency, and where there’s friction on chain. And I think this works for everything, right? Like, there are people I know who make millions and millions of dollars, and they’re in like the HVAC industry. And it’s because they do a very specific thing that nobody else wants to do. And like, that creates a value and efficiency where they can make more. On chain used to be before the rise of trading apps, very, very hard. It used to be so hard to figure out like, whose wallet is whose, what are they doing? And if you didn’t sleep for a week, and were disgusting, just going through Etherscan and Solscan, and, you know, trying to figure out tweets and match them to wallet activity and bridges, you could make hundreds of thousands of dollars by being one of three people that had somebody’s wallet. Today, that game’s over. That’s gone. That’s a solve problem.

27:17What do you think in a world where everybody is being super public? Where do you think the inefficiency then becomes? Or in it like the world of social shading?

27:27So I think I think we’re cut. I think we’ve seen it a little bit over the last week or so with like a couple of those big FOMO P&Ls where, you know, they sold like a little bit and then it went down like 80%. Right? Like, I don’t know. I just think that like you’re in a prisoner’s dilemma, right? Because now it’s like if you have this huge position and you’re like, people are like, oh, what’s this person doing? Right? You know, like I know people give up. Again, like I, I don’t really care about meme coin trading. It’s, it’s, I just don’t give a fuck about it.

28:05Right? If people make money on it, they make money on it. It’s not how I want to make money.

28:08I don’t find it interesting. I just, it’s not, it’s not me. It’s not what I want to do.

28:15But I know people give Frank a lot of shit because he like just gets out and like he like one clips things, which I think if I was in Frank’s position, I was doing that. I think I’d probably be one clipping things too, because you have to get front run right after the first.

28:29Yeah. Right after. Right. And so I think that happened to QWERTY. I think that that’s how you say his name. He had like a $500,000 P&L or something a couple of days ago. And I think he sold like a little bit and then it went down a shit ton and he didn’t like, I think people said he only took out like his initial investment or whatever. Yeah. And like, that’s why, that’s why you don’t want to publicize your positions. You know what I mean? Like, that’s why Berkshire doesn’t tell people what they’re buying. That’s why Citadel doesn’t like that. That’s why the biggest hedge funds in the world don’t publicize their positions.

29:02You know what I mean? Like they don’t want you to know when they go to clip, like there’s a reason why every activist investor will try to accumulate as slowly as possible until they get to that legal threshold when they must report. And then they like, like try to get as much as they can before it gets reported, because then everybody will move their the price. Right. So, you know, like, I don’t know, I just don’t think that people, people are like, Oh, yeah, this is the future when it’s like, the past clearly tells you that’s not it. Right. Like the most successful traders in history try to hide their positions. And there’s a reason for it. And you know what I mean? Like, and they still are goaded, right? Like, you know, you still hear of the Jesse Livermore’s, right? Like 100 plus years later, and that guy never publishes positions, you know, like Paul Tudor Jones, all these guys, they, they talk their book once they’re in their position, but they don’t want you knowing when they’re buying, right? You know, like if you knew when Drucken Miller started a position, started buying something, then like his entry price would be terrible right after that, right? Like, I don’t want people to know anything. So I,

30:13apparently like I’m in the minority on that in terms of like trading on crypto Twitter, but I feel pretty confident that I’m in the majority of that. What do you think the hardest thing to do? Okay, I’ll rephrase it. Well, how do you, what do you think the hardest, shittiest part of trading is for you right now? The hardest part of trading? Yeah.

30:39I mean, I like, what does that mean? I don’t trade all that much, right? So like I’m buying stuff. And that because like the thing is also, it’s like, I’m not meme coin trading, right? So I’m not like, Oh, am I going to go away? Because like, here’s the thing is, right?

30:53I’m not trading, I’m not trading meme coins. And I’m not trading on leverage, right? Or if I’m trading on leverage, it’s very small leverage. So I’m not in the position where I’ll go to the bathroom, and I’ll come back and I’ll be done down a ton of money, right? So like, whatever, I own FWA, no leverage, it’s just spot, right? FWA goes down, I think it goes down enough. I’m like, all right, I still like the story. I’m going to buy some. And I think it’s going higher, right? So it’s just like, that’s my thesis, I’m going to play out, I’d much rather wait that out, right? For the next, let’s say couple months, let’s say before it goes up or whatever, and be right, and like, have a lot of confidence in my position. Instead of, you know, buying some meme coin that just bonded being like, Oh, I think this is going to 10x in the next 20 minutes.

31:41And then if I miss it, or there’s not enough liquidity, I’m out, right? Because also, like, buying spot, I can get bigger size, like I rather trade bigger size, right? So, and feel more conviction in it. So it’s like, yeah, I’d say, yeah, I couldn’t even really tell you what because like, I don’t, I wouldn’t say I’m like trading per se, I’m like building positions in things that like, I like that I think has a good theme and a good story that I want to hold for longer than, you know, 10 minutes, right? There was there was a tweet that came out like yesterday, from some guy, the founder of Cielo yesterday, the day before, where he was like, Oh, you know, like, I’m gonna follow gmoney on his trades, because he like, he has a ton of thought, like his wallets followed. But he has like, whatever, a very long average holding time, right? It’s not like I have like a three minute average hold time. It’s like he has a very long like, I hold something for a long time. Right? So, you know, like, those are the trades that are probably better to follow, like those types of traders, because they’re not sitting there trying to use people’s exit, I’m like, I’m like, if you’re buying 5% higher from me, or whatever,

32:5525% higher from me, I’m like, dude, welcome to the party, because like, I think this is going way higher than that. Right. Right. Oh, different games, I think. Yeah, like, I, like if that’s how people make their money, that’s how they make their money. I’m not here to judge.

33:11I just know that’s not how that’s not how I like to trade or make my or make my money, right?

33:17And no judgment. Like, you know, it is what it is. You’re, you’re an onc. That’s what I mean.

33:26Onc. Yeah, I guess that makes me an onc. Oh, man. Well, look, on chain, obviously, is super hot right now. For those listening, if you haven’t been paying attention, or if you haven’t been looking at the numbers coming across the bottom of the screen, Bitcoin flirting with $80,000, ETH still pegged at $2,500, Sol having a really nice day, breaking through the $100 floor up to $107, HYPE continuing its stampede towards $100 up to almost $85 this morning, pump almost to $0.005 up, almost $3X almost from our $0.16, $0.17, or $0.0017 call on the show lit up from our $215 call up to $360. MU still kind of hanging in its range.

34:25The AI space is kind of still around their all-time highs, but every single cryptocurrency and cash cat is up to like $230 million market cap, Ansem up to $330 million market cap.

34:42And then across all of the Robinhood ecosystem, everything’s just blowing up.

34:46Everything’s hot right now. You’re in a bull market. One thing I will tell people is if you are up life changing money, take initials off, but also understand you’re nothing special if you’re up big right now because everything’s going up. And I saw this mistake made a lot last cycle where people were like, look, I’m the next Messiah. Everything I touch, I can turn into gold.

35:09And it’s just there’s liquidity coming in for the first time in a long time. And a lot of people coming back to the quote unquote casino. So I would implore people to understand, to check yourself, be financially responsible here, take profits, P is P. And it’s not real until it’s in the bank account to also be kind of honest with you. Unless it’s in USDC or even, I wouldn’t even push past that. Unless it’s in your Chase or Wells Fargo or City banking account, it’s not a realized position. So I would certainly not be running out and blowing money on stuff with an active position that you could wake up and be down 50% overnight.

36:00Can you bring up my screen real quick? Because I want to talk about TOW.

36:05TOW had a nice run up. It’s actually above the highs from a couple of days ago, which puts it relatively stronger than kind of like everything else that I’ve seen on my screen.

36:18If you take a look at that, ETH, BTC, I was just looking at pump. I mean, these charts all look pretty good. And the fact that we haven’t pulled back strongly.

36:29No, no real weakness in these charts. Like, obviously, some like, again, profit realization. This to me is like, what I think is kind of interesting is that relative strength, it’s holding above that, you know, first move high. Like, you know, I think people always talk about you want to be looking for relative strength. Granted, I am a long term community member from TOW, but I also think it’s going way higher. I really love the entire concept behind BitTensor and what they’re working on. So I’m very biased here. But to me, like when I I think I woke up this morning, I looked at the chart, I’m like, wow, I’m like, it’s exciting to see what I think is a very good long term project being very strong in terms of like the crypto market. So that’s one thing, obviously, I keep my eye on. But I just wanted to highlight that, like, I think pump, I’ve been like trading pump on on perps, like here and there, where like, I think I find like a good opportunity to get to get a position on to put like a trade because I just think that like in this market, what I’m trying to do when I do when I do trading on my leverage account is find a spot, just assume that the bottoms in and assume that all pullbacks will be bought, right? So you kind of want to find, you know, a spot where you

37:56think you can safely get in and then safely get out if you hit your stop and, you know, put on trades there, right? And they don’t need to be like long term trades that you know, it’s like, especially when you’re trading on leverage, you know, you caught you catch 10% 5x leverage, that’s 50%. So, you know, that’s great, you can take profit on that and then like wait for your next setup. So I definitely think these types of things are interesting. And but again, I think in a market like this coming off the bottom, you want to be buying the strongest tokens.

38:30And yeah, I’m glad to see that TAL is at the top of the board, right?

38:34Yeah, no, again, showing shape, but I think this also falls into, can you pull up world coin? I think Pump is a great example of this, type of great example of this, but those are revenue generating coins. TAL, a really good example of something that is like infrastructure for a needed use case, which is we see the option of AI, decentralized compute, all those are being adopted. And this has kind of set the groundwork for that. World coin, notably a product out of the Altman brain trust is trying to solve a different area, which is human verification. And like proving that you’re human and having an identity, etc. I think they have a hardware product even for this, but this idea of having a token pegged to something that is going to be a needed use case at some point, like I don’t think that’s a undeniable fact, that at some point, AI, and deep fakes, and, you know, everything that we see coming out of like, I want to know I’m actually talking to a human and that humans actually who they say they are, is a real product, it will become a product market fit at some point, I don’t know if it’s world coin, but another interesting token that I’ve watched since I mean, this is up about, about 100%, I think from the lows. Back in like December,

40:04when when I started like looking at this, when I was in Miami, actually, you and I had drinks one night that had been literally me coming from a dinner that was talking about world. So, December, it was actually the December lows were higher, it actually went lower, like a couple months ago, looks like. Maybe that wasn’t actually December, it was because it was near it was around point to four, that maybe consensus, maybe. Okay, then consensus. Yeah, so it was it just started around here kind of pop off. Yeah, so, oh, sure. Yeah, because it wouldn’t have been December because it was hot as hell out. Yeah, so that I missed the move that initial run up and I was like, screw it. And then it went way, way higher. I forget what the news was there. But this is something that off of its recent August lows at point three is only moved. Well, I guess not only but it’s moved 30%. And we’ve normally seen this when there’s been an upswing kind of outperform as people rotate in. This usually also rips once there’s a narrative behind it and you start seeing it kind of floating around the timeline. I haven’t seen that yet. So this is something that’s on my radar. And I don’t know, I would start bidding this

41:25anywhere between if we got a little bit of a pullback, I’d start building a little position here. It just seems to be one of those other tokens that once I think it gets a narrative, it rips. I mean, listen, if I were to buy this right now, let’s say buy it here, I buy it here and it’s at the stop below here. What else? You’re looking like a 5%. 30, 37 and a half.

41:49Okay. Right. And that would be like for, you know, a trade, right? Like, if you want to wait for a larger pullback, it’s just like the problem is if it has a larger pullback, it just doesn’t look as sexy, right? Like you want it, you kind of want it to not like kind of break that line. Yeah. Right. Or at least like hold that low and then run higher. Because if it breaks that low and it goes lower, then it’s like, it looks like it’s a little broken on the four hour chart. Yeah. Look, it comes out. These are the same thing that falls for Worldcoin falls for TAL. They need adoption and they need enterprise. Same thing with Kita, another token that was like the love trial. It was the Scarf boy. What is it?

42:34It is Kita, K-E-E-T-A. This is something that is trying to solve. It’s more like a FinTech.

42:43And I mean, this chart is probably ugly. Yeah. But, you know, look, it comes down to all these tokens that are like trying to solve a case where it’s enterprise and corporations coming in, adopting and using the product, and, you know, getting contracts done and finding product market fit. The catalyst for it going exponential will always be business development and partnerships that actually drive use case and revenue back. And I think if you have like this, obviously, has no strength in it. So I would not be like, I mean, there’s a lottery ticket.

43:23Well, this to me looks like there’s still there’s like an aggressive investor unlock, right? Like, it didn’t even go up. It popped and now it’s like below where it was. Like, I feel like this token, I don’t know anything about it, but like, I would, you couldn’t pay me.

43:40It’s Eric Schmidt’s backing it. It’s, you know, it’s got the Google stamp of approval. And I’ve seen the Google logo thrown around it. And I know that it’s very smart devs that like we’ve worked with via Lute Labs. But, you know, I’d like the point here is I think you have to be kind of going through and looking at where are the non sexy currencies that could if you if the thesis behind them is bullish, and they’re in a sector that is only going to grow and probably going to get adopted, you know, putting that on your radar and tapping into that the other one, I’m sorry, I’m going like a little like tangent here. The other one that’s super interesting is syrup, which used to be named Maple. But I believe they renamed the token to syrup.

44:33Yeah, I believe that one. This is a company that does loans, it’s a token for enterprise companies being able to come on have inventory and logistics and like known cash flow and take out loans on chain. I might have botched exactly what they do. But you know, realistically, the instantaneous one click loan sector is one that we saw get really hot in previous cycles, I believe they are a decently revenue generating company, one that I always kind of come back and look at time to time. Again, if you think adoption of on chain, and you think the adoption of stablecoins is become more prolificated, and you think that this company or you think that, you know, companies coming on chain to do this stuff is going to grow. Another one you might want having your radar here. But they’ve shown some strength off of the bottom as well.

45:33Well, isn’t the issue with a lot of these on chain loans for businesses is like, I forgot the protocol, but they like syndicated a ton of loans. And then like those companies like never paid them back. Like, right, like they’re supposed to be like somewhat secured by revs or whatever, just like a lot of crime that happened.

45:53I know I saw VCU, I think like post about something how like, you know, they backed a couple million dollars of loans are supposed to be like, whatever, double A, not not triple A, but like, let’s say, investment grade type loans that they lost everything, right. And so like, I think like the problem is, it’s like, people are stuffing. And this is like, I think the main concern with a lot of this on chain stuff is, I think a lot of the web to people think of crypto as like the idiot retail that will fund this stuff. And listen, a lot of times it is because we funded a lot of retarded stuff. But like, I think they treat it as that. And so they’re like, oh, we can repackage this garbage and sell it to them. And they’ll buy it, right. It’s been kind of like an issue with some of this stuff. So I’d like to look, you got to do your research on like, and it’s easier now with AI if you haven’t been around, but I’ve seen a few like NFT projects come out. And I’ve quite literally been like, I that has to be the same team from this time. And this is the third time they’re relaunching the same product or somebody just was like, Oh, like, remember this, like, let’s run that back. That did well last

47:05cycle. I that obviously exists, even in the NFT loan space. You know, I remember seeing after I had done the gani deal, I saw like one or two other ones pop up. And I was like, Oh, wow, like they’re screwed. But there’s always small things that teams will do differently that that’s kind of where like, the profit unlock is is really getting into the nitty gritty details of how is a project operating? Where they trying to solve and, you know, where’s their where their protections as well. I think pump is a good example of Oh, my God, Bitcoin is just ripping right now. Yeah, I mean, I think like pump, you know, revenue meta. Yeah, I think I saw somebody post something this morning that I thought was a good take is like, FOMO has probably been really good for pump. Because it may it’s people realize that pumps revenues are real, because remember, I don’t know if you remember a couple months ago, people were like, Oh, there’s no way that any of these rabs are real. So it seems like, you know, it gives more validity to pumps revenue stream. And I think that’s kind of why obviously, with sentiment changing, you know, their buyers of their token creates more by pressure, right? So yeah, I mean, like I said,

48:30I’ve been trading pump here and there on my perps account. And yeah, you know, I don’t, I think I bought it. I bought like, I think I bought it here or here, like somewhere. I think it was here in this in like this up move. And again, like I waited till established the bottom.

48:59This one, I think I bought here. I bought like probably some here. And then once like it did this pullback, I think I bought some here was using this, this is a tight stop. And so like, I have it going. And I’m hoping that like, you know, it starts trading towards highs. So Bitcoin being strong, obviously, this thing should be strong, all strong tokens should follow what King BTC is doing. Yeah, I mean, that that’s a sexy chart. Wow, sexy chart. You don’t have enough exposure.

49:34I’m sideline. I mean, listen, I listen, when when you go to Jackson Hole, two weeks a week a week. Yeah. I believe. When’s he talking? When’s worse talking? I don’t even know.

49:50But that’s obviously next week. Okay. But yeah, obviously, all eyes on wash at this point.

49:58And that will probably drive what happens until after Labor Day. But yeah, I would say that for the most part, trading is done for the summer. I think probably everybody’s in the Hamptons by this point. Do you think we see maybe for Equi is more than crypto. But do you do you think we see a local top here? Or do you think the freight train keeps going with everybody being out?

50:26I mean, do you think or do you think the volumes allow it to run?

50:30Um, I have no opinion on like, it does, because it’s like, because there’s decreased volumes, like, you can you can send things one way or another much easier. But I don’t like, I don’t think how you can be bullish on NVIDIA and think equity is top like, like the AI trade still alive and well, right, in my opinion, right. So yeah, I mean, I’m just like, I want, I want to own more in video. How do I buy more of this thing? Yeah, I mean, I put on, I put my on chain long on, I converted all my quote, drawn dividends into NVIDIA, five minutes before the close to go long into the print. No leverage, but still, I thought that was pretty cool.

51:16Where did you buy it? I mean, this is the only this is the last kind of like big question I have for the day was like, so so last night, you started tweeting, I was on a walk behind the house here. And, you know, was listening to the earning stuff. And I was like, All right, this is good. And this is this sounds good. You tweeted I got like, super bullish. And immediately on chain for everywhere that you can trade, I think it was up like, five, seven percent. And then I think after that initial, like immediate green candles up another like, three, 4% in the morning. But like, where were you buying? Because it seemed like those who are trading on chain were able to capitalize the most. No, I got long. I got I got long before the close. Got it. So I basically I had a bunch of my quote, drawn dividends. I had accrued like, I don’t know, $7000 that like I hadn’t taken out. So then I basically converted the other nine stocks into NVIDIA. And I was like, I’m gonna hold this into the number. I mean, like I thought my downside was like, if I was wrong, I was gonna be down 5% not levered. So $350. Right. So it wasn’t, wasn’t that big of a risk. It was more. It was more to I like the thing I think is interesting about all the on chain stuff is like, you can use

52:43these tokens in like, different and interesting ways, which is what we’re seeing, which is very cool, right. And like, I’m working on like, some other things and talking to some other teams to do stuff, do some other really cool shit that you can’t do in trad fi that you can do because of crypto. And that like, to me, it’s like some of the most exciting stuff that I’ve been doing in a couple years. So I like it. And like, that’s, that’s kind of why I did it. I was like, I like NVIDIA, I want to hold NVIDIA, I kind of want to build out my tokenized stock portfolio with my quote, trans dividends that I’m earning. And you know, I actually so I, I’m gonna keep all my SpaceX dividends that I’m getting. And I’m like, yeah, how do I like, build that position? This actually, this chart looks nice, too. Like, if you wanted to buy some, you could use this low here, whatever 130 is a stop. If it gets below, there’s probably gaps.

53:41But yeah, I like I looked at this last night, I’m like, Oh, as you consider buying it. So I’m probably going to be building an on chain SpaceX position. My problem is with my I guess my interactive brokers account is, I’m like, max long already. And I’m like, I don’t know, I don’t, I don’t have anything I want to sell. I love all my babies. So it makes it a little difficult.

54:05You know, it’s, you gotta, you gotta pay attention to stuff is also why like, you got to check in every morning, because I would have probably bought two, three days ago in that like that. That’s a good setup. I would have felt so comfortable throwing size into that. On what SpaceX? Yeah. Yeah, I mean, if we, I feel like it’s not that much higher.

54:26It’s not that much higher from, you know, two, three days ago, it was like, yeah, you know, but the sense of like, there’s almost no, like, I would have felt like there’s almost no risk there, especially with like the momentum, knowing the video earnings are going up.

54:39I don’t know, mental, a mental thing. Now, we’ll have to, we’ll have to keep paying attention to what happens in the AI trade. Anything else on your radar here?

54:54I’m just excited for the weekend. You know, I just, on chain has been really heating up.

55:03The Quotron stuff, I find very exciting. FWA, they’re doing their next swear launch today, I think in about 30 minutes. So gonna be watching that to see how much volume comes through, how many spins come through. I expect spins to be lower than the last one, just because I think there’s going to be like less than like, less demand for it, per se, like people aren’t going to be like, oh my god, this is epic. An epic thing. So, but yeah, I think it’s cool. I think it’s like, somebody put out a tweet yesterday that I thought was really good of like comparing it to like a PumpFun graduation, and how this is like so much more fair than a PumpFun token launch, because a PumpFun token launch is all about speed. So that’s why you get snipers and bundlers and all that stuff. It’s like, on FWA launch, like you can’t like you get you get speed and that you can get more spins, but that doesn’t give you any more of an edge other than like, you spin faster, but still have the same odds as everybody else. So I thought that that was very, that it was a very good frame that I was like, wow, I never thought about that. That to me is really interesting. So we’ll see.

56:27I’ve got another friendship bracelet, so I’m over 15. At some point, I will win that Crypto Punk though, that is the goal. Okay, but here’s the thing, right? You’re over 15, but you’re probably only down like, I don’t know, like somewhere between 5 and 10%. You’re not down, you know, 80%.

56:46Probably little, like 15% down on spins. Yeah, I’ll get like $300. Better than meme points.

56:55I don’t know. I’m doing pretty good on the meme coin trade right now. Lute’s been up. We’ve been doing well. We do well. Oh, man. What’s up? I don’t have anything else specific I want to go over here. I’m off to New York here in a minute. So if any of our New York listeners are around, I’ll be in New York for the next few days. Hit me up. Gee, anything else you want to go over here? Nope. Have a great weekend. Let’s link up in New York. I’ll be there too.

57:32So fantastic. Incredible. Guys, thank you again for tuning into another episode of Full Port.

57:38We’ll be back next Tuesday at 10am Eastern time. If you have any questions, want to get in touch with the show, have a guest you want to request and get in touch with us. And we appreciate you tuning into another episode. We’ll catch you next week. Peace guys.