TOKEN2049 recap: bullish or bearish on Ethereum, Berachain and more

Transcript

GM good morning welcome to the milroad show The Daily CP show show that's as refreshing as cracking a cold one after a long day I'm your host Jay Hamilton and today we're joined by zenica who is live on the ground in Singapore at token 2049 and then salana breakpoint and the whole crypto world is focused on it for good reason we've talked all week about fun about ta and about macro and about what's going on in the market and the thing that we all need to remember is in order for crypto to to go where we all want it to go we also need the real builders on the ground building the real stuff so getting the inside scoop from zenica is going to really help frame our mind to

are we bullish for what's being built in crypto or are we bearish where is the balance and where does it take us in the future I want to remind you guys really quickly the show now comes out every day at 3 p PM Eastern not 9:00 am Eastern anymore so re set your clocks to make sure you're getting us first when we come out in the afternoon or evening or morning wherever you are in the world zenica thank you for putting up with my long intro welcome back to the show it was a great intro thank you for having me good to be back okay uh let's just start with uh we're g to break this show down into bullish and bearish of what's going on at token 2049 but before we jump in how you feeling man you you exhausted are you body bullish or

bearish right now um my buddy is ready to go home uh these Live Events are always so exhausting there's so much happening all the time I'm actually I am going home tonight I'm only here for like the a few oh you're not you're not staying for breakpoint I'm not staying for breakpoint um but by salana I'm fullish salana although yeah um I'm I'm I'm happy ready to go home okay good trip been a good trip that's amazing well thank you for getting up really early in the morning your time uh to do show with us today and bring us this important news okay let's jump in uh first up we got a tweet from nater uh n OG builder in the space uh one of the founders of developer da

you can go back we had him on the show like three years ago uh he says main takeway from Togo 2049 Singapore is that the most talented successful and smart people are excited and optimistic as [ __ ] most of the best are well-funded that's all I need to know which is great like I think I very much agree with this take I think that if you're um paying attention in the rooms if you're looking around at the actual people building products and protocols blockchains and apps uh everyone is very bullish excited like there's a lot of genuine building happening a lot of connections being made and he's right about being well funded like yes there's tons of money being thrown around at at maybe uh not so great things but with that you have a

lot of money being thrown at actual Builders and products being builds I I fully agree with his take I'm I'm also very bullish on on the state of things yeah love to hear that I saw Nat's tweet and kind of felt like that was the only if I wasn't prepping the show that was the only tweet I would have needed to read I would be like yeah that's that's it like Builders are building the smartest people are in the room and the money is there let's go uh but the show doesn't end there guys uh we put out a show for a reason we got lots more to talk about so let's go to probably the biggest uh headline so far and he seems to make the headlines the best every uh show uh is or sorry every conference is vitalic uh vitalic got on stage and he

he sung a song He serated the audience um so I I wasn't there but I had friends that were there I heard about it right right afterwards and basically he had like a 20-minute talk and he he was talking about how um the in one of The Inspirations for ethereum was this movie called Castle in the Sky the studio gibli Japanese anime film and then I don't know how or why he did this but then he just sung the theme song to it and for like 20 25 seconds he was on stage singing um and it's just like what other project is going to have that what other person that is as well-renowned as vitalic as important as vitalic as serious as vitalic in so many ways is going to get

up there and do something so silly it's the kind of person that you know he'll get up on stage in pajamas and random cat socks and um that's just who he is and so you know there's lots of jokes flowing around like oh my God all my all my net worth is in the hands of this man and stuff like that which it's all fun and well and good um but he hasn't changed a bit like this is who he was five years ago it's not like he's doing something completely random it's not like oh my God he's on some drug fuel bender and look what he's doing now no this is vitalic this is the vitalic we know and love he's he's a little bit awkward he's a little bit geeky a little bit nerdy a little bit um whatever but a little bit a little bit a

l yeah more than a little bit but definitely not a little bit not a little bit of he's not a little bit of anything but um no I mean that actually makes me bullish personally like for me uh I I think about you ever read the book um the subtle art of not giving a [ __ ] by Mark M oh yes I have yeah yeah like the talic does not give a [ __ ] like he is so off on that that scale it's incredible it's inspiring to see somebody who truly doesn't care what other people think and will get on stage and do the most ridiculous thing yeah okay so yeah vitalic singing on stage bullish or bearish bullish bullish he's on that point though he's also going through

this like Arc of um like he I feel like for a little while he was like maybe a little bit like more shy on Twitter or like he wouldn't call people out and there was a tweet like I don't know a week or two ago where someone was responding to him and vitalica was like I have no idea who you are and I don't care and he just like bodied this guy being like what the hell who are you like that's just that's just kind of some some Alpha uh energy right there okay so we like the alpha energy we like metallic singing on stage okay next up uh tweet from uh Logan I'm not even G to try to say your last name sorry Logan as much as the timeline shits on ethereum they still have very much they still very much have the majority of Mind

share at token 249 yeah and he says it's a packed house for vitalic talk and has a photo of the talk yeah I mean look at that that's I mean there's so many conferences I've been to that you get a speaker on stage and there's 10 15 there's nobody there it's just like empty seats and they try to get everyone up front so they can get a nice photo this was like standing room only uh very bullish sign I think again for not just for ethereum but for crypto in general but obviously bullish eth okay pause for a sec eth uh bullish eth in general eth getting [ __ ] on across the timeline you got you got vitalic on stage bullish you got a packed house bullish not a lot of other bullish signs right now are you bullish I'm EXT extremely bullish I mean

I've basically always been bullish e but especially when like everyone is bearish on something I think generally counter trading that is is a good thing similarly when like there's Peak Euphoria and everyone is Max bullish on something you want to take a step back and double think and think about maybe if you should be taking some profit or exiting because um it's it's when there's sort of like that consensus among everyone in the crypto space uh that's usually not a good thing like people are just like sheep following the the the the party lines or the talking points and I think that it's popular to be [ __ ] on eth at the moment it seems like everyone seems to be doing it and that just makes me even more bullish like the fundamentals haven't changed actually the fundamentals have gotten

better so they have changed they just keep getting better and better and better apps are getting better onboarding is getting better the ability to transact seamlessly across l2s is getting better and and there's so so much stuff I hear about um someone was telling me about uh this new thing where I can't remember exactly what it was called but it's like abstracting balances across l2s so if you have some usdt on arum and some usdt on optimism and on base instead of having to transfer between all of them you just have this one wallet that controls all of that that amount of fun uh that amount of money and I think that is such a a quality of life Improvement that you know once we get stuff like that and better wallets and all this kind of stuff that is definitely coming it's just going to be so much better and this

whole oh my God there's too many l2s cannibalizing one another narrative will will disappear and they'll just be like oh yeah it's just like it's just eth it's just transacting on chain it's just there and it just works behind the scenes yeah I have so much to say on that but I'm not going to say anything other than uh go back and listen to our eth's money episode uh and also go back uh and listen to the uh followup to that episode which came out the day after I'm trying to remember the name right now I can't remember but we'll put it in the show notes uh okay next up bullish or bearish on Singapore I'm bullish Singapore it's it's a funny crazy place this video you have let play the and you can explain

what this is I was just walking home last night and there's this robot security guard just chilling down the street apparently it like it it's a camera it like looks out for anyone like breaking the law for littering um so it's very much like you know we talk about crypto and and decentralization and escaping from the government it's very much like a nanny State here in Singapore like they're very controlling of everything everything is government regulated um which uh a lot of crypto people won't love and it has its downsides but the plus sides are it's incredibly safe incredibly clean incredibly well organized and put together and um yeah it's a cool City I I had a friend who came here uh and who was just first time in Asia and he's come all the way from Canada and I told and and he's like it's not quite what I

expected and I'm like yeah this is white people Asia like Singapore is is just like it is this Singapore is not Asia go to Southeast Asia from India and you come to India and it's Absol chaos culture shock in Singapore or or like Hong Kong for instance it's a little more tame and laidback than a lot of other parts of Asia okay bullish or bearish uh an announcement uh that parallel uh their TCG their trading card game has unveiled a new third person shooter game built on Unreal Engine five I'm bullish I think um this is like one of the nicer Parts about token and big events like this is a lot of big companies will drop announcements about um things they've been building for a

while things they're working on plans to come up um I think we'll see a lot of that out of salant breakpoint as well as we have in the past and I am bullish salana despite being also bullish eth um but this is um parallel I've been bullish on for a very long time I think they're really smart well uh put together team they they build great products parallel the trading card game has been gaining a lot of attention and adoption in the last few months especially has a long way to go but it's getting there they've been building an AI game called colony which I think looks awesome and amazing and this is another game coming out I guess the one Counterpoint would be that they're doing a lot of stuff now and like there's a lot that they have to execute on like building one game really to be excellent

is very very difficult they're now trying to do I think three at least at once uh so they have their work cut out for them but uh I haven't looked into the game specifically I haven't read that article I just woke up to that news so I can't speak too much to it but uh and definitely generally bullish parallel you've got the prime chart up here I've been a bullish bullish prime prime is everybody listening Prime is uh par the the token behind parallel and all these games that they're building used um I am bullish Prime uh largely because I'm bullish uh crypto gaming I think that uh as difficult it is as it is as impossible as it is as hated as it gets at times um as and as many terrible projects as there are in the gaming

space as Vapor wether are I do strongly believe in the future of crypto and web through gaming I think it will break out at some point whether it's in a year or five years or 10 years at some point it will break out and I think there are only a handful of projects that have uh strong tokenomics and by that I mean that there's not just infinite Supply coming onto the market every month um that the team has thought about like appropriate SNS they've well thought out token economy I think Prime is one of them and um I am bullish on the token that's where I hold it uh we will see what happens but I think if crypto gaming gets another moment in the sun it's one of the ones that will will take off the most okay bullish or bearish yugal Labs so this is interesting I've been um

I guess like bearish yugal labs for quite a while um Pockets like I've bullish on certain aspects but I think they've they've made a lot of mistakes um especially in 2022 and uh the early parts of 2023 but uh last night they announced so they're building ape chain this new L2 that's all for apes related things uh which um was never particularly bullish on in the first place and apoin has not been particularly bullish on either but they announced this game called top Trader which is basically a game designed for degens it's it's a way to leverage trade I guess with like play money fake money so not with your own real money it's just like a competition to see who can like if you had a massive bankroll and you could leverage 100x or THX leverage who would actually trade and make the most money and be the best Trader and um

I think that's a fun game I think that's a fun concept it's they've got prizes in like real tokens and real money and in other respects for people that that do well and win um Gaga came out and had had a big uh post explaining it here and uh they they've also s they're also like uh revealing a lot of the the um the the infrastructure that they've developed to make it easy for people to play so like instead of you complicated wallets structures set up needing a bridge they've really just made it you know they're sponsoring gas you you can sign up very easily um it's for anyone to be able to access and uh I don't know I think it's cool surprised me to see them it's a cool idea I just want to be clear are you saying that you're going to go

buy AP coin or go I'm not buying a coin I think or buy any nft in the Eos no okay no no no this is just a cool thing yeah there's so many things that nft projects and things do that they don't necessarily relate to token price going up but like there's cool stuff it's like Doodles is doing some really cool things with their IP and with Fel Williams and doesn't necessarily mean the price of Doodles is going to go up but it's still cool to see them do cool [ __ ] and maybe sometime in the future yeah but all I care about is my bag and I know I know on I told you before the show come on you wink wink NCH NCH okay okay we got a be chain bullish or bearish be chain so I would

say both I think um so the bullish elements on the first night of of token uh actually before the conference even started the day before they had this massive party it was a bar chain um sponsored by okx party and I was you know I didn't go to it but I was at like an event beforehand and a lot of people were like yeah you going to the party I'm going to go to the party and I was like it was the party it was it was that night the party which a conference with a thousand side events it's kind of crazy to have one event that night but part is not my scene I was ready for bed I went home um and then I woke up or like later that night I saw people tweet these videos and send me these videos of

the line to get in so like I think they had capacity for about 1,800 people inside and there must have been six seven 8,000 people trying to get the line is insane the line absolutely ridiculous I didn't even know there were this many people in crypto let alone in crypto in Singapore and so bar chain has definitely captured hang on one sec let's just quickly explain what bar chain is bar chain is an alternative L1 launching sometime next year um and their whole stick has been around like memes and like they they almost position themselves as like the meme coins L1 ecosystem which in I mean there have plenty of other stuff going on but like

that's like their marketing and branding and and they they raised they raised 100 million they had a Mone I know the exact number but it was I think it was 100 Mil it was a mass I think um I mean or mon a year ago I think a year ago for for most of this year most people have been bullish on two new l1s monad and bar chain and they're both set to launch sometime next year um and yeah bar chain has been like I guess more known as The memers Coin and uh they've generated ridiculous amount of attention and and got everyone talking about them whether that translates into a successful L1 launch we will have to wait till next year to find out but yeah my my my favorite thing about this is the this tweet here uh whoever this is is saying roros is saying that the

barain event was way over subscribed bad organization and 9,000 people for a 2,000 for 2,000 spots in a club uh that sounds like the most bullish thing I've ever heard if I was throwing an event and there was that many people that wanted to get in and I was all over everybody feed like yeah sounds great very bullish they've everyone talking about bear chain I wouldn't have talked about bear if they had no line exactly yeah great marketing like yeah you know no publicity is bad publicity that whole thing okay next up uh this comes from gesh he says this token 2049 is actually making me bearish Builder driven and user-driven maybe F in some cases blowing hundreds of thousands of dollars

on parties fine want to do events he's he's saying you should do Builder cafes you should do investor meetups you should do oneon-one get people together uh thoughts I I get it I think um so there's a thousand plus side events at token which is you know this is a three- dayish conference uh with maybe a bit of extra time on either side a thousand plus side events so you think about how much money is being spent on all these events by how many teams I totally get the the the concept that money is being wasted or just splurged uh recklessly but I think that there is um something to be said for bringing

people together and just having fun like if crypto was only developers coding in silence or in a cafe and like building like we would never adopt the mainstream attention the the rest of the world and like that's a whole there a whole debate of like is it good or bad to go as mainstream as we are going and we're losing a bit of the ethos of the whole Cipher Punk Narrative of crypto but I think that if it is to become like the currency of the world if ether is meant to become the global computer all these kind of narratives that we kind of want crypto to underpin the world we have to realize that the world is made up of billions of people and many of those people love to party love to be social

love to drink love to do all these things and get together and have fun together and they can do that while also um supporting the the projects that they're part of or connect and network and like you know some people prefer a build a cafe where they develop and or oneon-one conversations me I much prefer one-on-one conversations and you know small coffee or Meetup or a small meal Meetup Some people prefer big parties and and connecting taking shots on a dance floor Some people prefer um you know meeting 50 people a night at in a packed room and and talking loudly like that's just how other people operate and I think that uh we have those smaller events and we have like um hackathons and we have Dev conferences and we have even within token we have much smaller

meetups and people are making their own of it but then we also have projects blowing tons of money I I think it is bearish for certain projects when all they do is just waste money and blow money and you see them do it you spend half a million dollars here on a party makes me bearish on them specifically but as a general theme I'm not as bearish I think as other people yeah yeah yeah no I I'm not naming any names few in completely agree um I would really like you to name some names but I won't I won't make you do that Zen I won't do too uh okay um this just a further double tap on that because this was a great tweet making the point that you just made uh this is Taki ma he says crypto conferences are basically vacation as a service it's an excuse for

teams to spend VC money or dump their treasury tokens so they can go on vacation and pretend to be productive yeah no again I definitely agree with this take and like I said not naming any names but they're definitely projects that do that they're not being productive they're sponsoring 10 different events and they're definitely not getting any money money's worth for it they they have massive VC treasuries and like all right let's just go party in Singapore and it sucks but you got to take the good with the bad okay uh I I don't even know if I actually I should ask these individually because these These are proba these are my favorite ones I can't believe we left the end the episode okay first up I'm gonna play a video here what happened on the redacted so I I wasn't on the redacted flight for those who don't know redacted

is this new coin coming up by Shan the founder of an NF project from 2021 um but anyway there's a bunch of them got together launching this redactor coin and they said you know what we're going to charter a flight from Dubai to Singapore for token and it was like a private commercial flight so they got Qatar Airways to get them like I think a 787 300 Ceder massive Jet and they just filled it with crypto degens and as you can see degens went absolutely Wild on the plan wait wait do you know who they filled it with like big did you have to like win to get this uh you had to I mean like they would have reached out to certain people and partners but I think they also had like an application process I they received 12,000 applications for like 300 spots

this is a great marketing campaign so honestly everyone is talking about it there's people hating on it there's people calling it cringe there's people saying that's fun let them do their thing um and like this i' I've spoken to I wasn't on the flight I spoken to a ton of friends who were on the flight and there was like this was like the middle of the plane you had the back of the plane where people would literally sleeping you know it was quiet reading and then you had the front of the plane like business class and first class and that's where like people like networking and like having actual business conversations getting work done this is just real life this is just real life we're GNA playing you at all three section um but yeah it just seems I mean I'm not a hater I think it was uh it was

different and as a marketing thing they got everyone talking about them um I know people that flew from Singapore to Dubai to take this flight back to Singapore um which is czy in of itself but oh my God yeah wow I guess they wanted the airline points I don't even know um okayish or bearish the this ISS night oh my God where's your face on this thenen where where are you they invited me I got a call an email a cold email where they invited me to the uh dgen cool Awards night or whatever um and in the email they had this list of like oh we have all these other K's attending I did not recognize I kid you

not single one I still don't recognize a single face on this list and it basically seems to me like they got a bunch of the biggest scammers in the space people that bought their Twitter and YouTube accounts they charg thousands of dollars to tweet or to post about something um take everyone's money and then they were like you know what let's create an event give ourselves Awards and then we can use these Awards to get even more business and scam people in the future because not a single legitimate crypto user knows these people not a single active person in the space people have been in space for 5 10 years no one knows these people it's all scammers it's Max bearish it's what scammers do I hate it I hate it I absolutely hate it okay that was amazing I I so basically the takeaway is

if you see any K that has on their website or in their bio or anything like kol Award winner run for your life run for your life uh okay uh last one um you had a tweet uh that was the amount of people I just randomly met uh is randomly as as absurd um what's what's it been like to be there and to connect with others it's amazing like uh there's crypto conferences lots of places around the world like token 2049 they had it in Dubai earlier this year but Singapore is such a small place that when you get this many people in such a small place and especially when the conference is largely in one venue uh you just you see people everywhere and I was at the venue

yesterday Marina Bay s meeting someone for a coffee in like the mall downstairs and in the course of like an hour hour and a half just walking around I met no joke 1520 like good people friends that I've known and spoken to for a long time through the space and that to me just sums up like the best part of these conferences it's getting to connect and see people that you've you know just spoken with in Twitter DMS or haven't seen for two years and it's kind of like a school reunion in so many ways and in the best of ways um and like you can take away all the noise and all the other BS and stuff but there's real value in getting to meet people face to face and especially friends or like people that you've spoken to a lot um grab a quick coffee or just have a

10-minute conversation and just like keep those relationships alive and and just have fun with people it's it's really really cool I've met so many people and this was the craziest story you just showed a picture on screen of nft stats Sam he um I tweeted out this chart yesterday of like the foure cycles and how you know eth was following it oh we like 15 days to go until the bull market begins and he posted ask me a question like what's the Y access because it was just a screenshot and I'm looking at it and like I look up and he's walking towards me and I'm like on some random street in Singapore two two streets away from my hotel not even at the conference and like that to me just sums up the the like the closeness of these events um and it was just awesome

to see him and just hang out and um yeah Co I want I want to find like I wish this is where I need to be able to quickly uh use chat GPT to find like the quote from uh Bezos attending early or Mark cubin attending early internet conferences and making the point which is exactly what you're making now is like if you go to these conferences you can rub shoulders with the and then yes I know that quot and this is how it's all going to happen right and like you you nailed it when you said like if you're there you bump into all these people you you and and look if you're listening to this and you don't know anybody in this space and maybe you're not a incredibly successful influencer like zenica is then don't worry just go

go [Laughter] award all right like you were saying don't worry just go and meet people just yeah it's I think it's it's uh so many people make the mistake of not going like go to one conference a year I really believe it's so so important even if you're not a builder even if you're not a Founder like just go on that note I'm going to be at permission list so anybody out there who wants to go uh to and meet myself I'll be there Kyle will be there a bunch of us will be there I'll actually throw a link in the show notes if you want to get tickets this was not me trying to do a promo or anything but uh we'll be there um Zen let's wrap with overall bullish bearish I'm bullish overall very bullish like

there's a lot of money wasting going on and a lot of chaos and a lot of maybe cringe stuff but ultimately it's thousands maybe even tens of thousands of people the amount of people here are crazy all coalescing around crypto all gen like you don't come here if you're bearish crypto you come here because you're bullish and you love the space and you're excited for it and the amount of people here the amount of um people actually building cool stuff is I'm just maximally bullish I've never been I've genuinely never been more bullish on crypto like especially on the the tech side and on the adoption side like things like improved wallets and account abstraction and making it easier for the end user that's a big theme across this conference and conferences lately is like how do we make it easier for like the average user to interact with crypto

and a lot of like even like um coinbase smart wallet now maybe interacting with Apple pay and being able to buy things with like a double click on your phone and so many things that I think we need for like proper adoption are we're so close to so many of them and I'm so bullish [ __ ] yeah [ __ ] yeah Zen thanks so much for joining today everybody listening in I want to know if you guys are at token 2489 or at breakpoint throw a comment in the Show links or if you're going to any future conferences let us know which conferences you're going to so that we know which ones we should keep you guys updated on as always thanks for listening in everybody have a wicked awesome weekend thank you so much as always if you liked today's episode please hit subscribe and make sure you

follow us if you don't miss out on the next one there's also a link in the description to our free five minute daily newsletter where we simplify crypto for you while making you laugh and if you're willing to step up your crypto investing game we're going to also leave a link for milk Road Pro you get access to our portfolio where you can see exactly what we are buying this is your number one resource to help you invest successfully in crypto one final note this show is for educational purposes only and nothing we say is financial advice investing in crypto or any asset is risky and you should never invest more than you can afford to lose thanks so much for listening in my friends have a wicked awesome day