Will crypto recover? Best altcoins to buy now? Today we are joined by Raoul Pal, Real Vision Founder, to discuss the latest cryptocurrency news for bitcoin, ethereum, altcoins, & MORE!
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TimeStamps:
00:00 Intro
00:49 When Will 2023 Recession End?
05:32 Will Crypto Recover?
08:21 Buy Bitcoin Now Or Wait?
10:27 Is The Yield Curve Predicting a Recession?
12:32 Beware of Bad Crypto Regulation
13:39 Raoul Pal Ethereum Prediction 2023
22:59 “Everyone Is SO WRONG About Solana” | Raoul Pal
27:30 Raoul Pal: Cardano, Algorand, or Avalanche?
29:11 “Cardano Still Needs One Things…”
31:29 NFTs Will Evolve in a BIG WAY
38:25 Best Interview on Real Vision Crypto
39:48 Top Crypto A.I. Tokens?
42:58 Best Advice for Crypto Investors in 2023
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I still think people do not understand How big this is so we're starting to see The point that liquidity is going to Come back into the market which is why I've always been a big proponent of the Fact that crypto is macro and macro is Crypto yes today we sit down with global Macro investor Raul Paul to discuss the Potential that is Bitcoin and crypto in 2023. now Raul is the founder of real Vision and real Vision crypto awesome Website completely for you and I will Link Raul's YouTube page down below make Sure you click subscribe it puts out Awesome content but in today's interview Things get wild we discuss everything From traditional Finance to the macro Landscape to the potential of ethereum The potential of Solana cardano AI Tokens and so much more so Raul what's The state of macro investing right now So macro investing is best summed up by The word denial So And people will interpret this two ways People saying yeah the Market's denying That it should go lower because earnings Are going to be revised lower and we're Going into recession And my version of that is yes tell me Something I don't know And markets are pretty clever they Forward look So when I look at the macro data I'm
Expecting a recession Now understand it Seems a bit not very clear because Unemployment's not moving yet stuff's Happening but But the all my forward-looking Indicators suggest that we're going to Go into recession But what is unexpected it looks like It's not going to last very long So the forward looking stuff based on Liquidity and I'll come into why this is Important to say is actually saying that After about April things start improving So we we go into the Vortex now of Everything's going to feel terrible the Unemployment is going to start Rising All of the data is going to come out bad But the market I think is Forward-looking this turn in the data And we've seen it with the Federal Reserve the Federal Reserve kind of got To the point where we're kind of almost Done they've gone from 50 basis point Rate hikes to 25 basis points and then It'll be stop last time it stopped Bitcoin went up 300 percent Uh East did about the same And the rest of the markets rallied you Know significantly so I think that's Where we are we're at the we're at the Juncture where the markets are sniffing Out the turn That something is changing inflation is Going to start falling and the narrative
Is going to shift towards we're in Recession now And that's when everybody thinks well we Should be maximum bearish but actually The markets are forward-looking and Start discounting an improved situation Whether it's more stimulus or rate Cuts Or whatever it is at least the fed's Stopping raising rates killing all of us So how does this all work between macro And crypto because that's the important Thing because people like well what what Do I care Well they need to care because liquidity Which is the amount of money in the System the rate of change of the money That actually matters That's what drives crypto Cycles I don't Even think it's the halving at all When I actually match up the peak in Bitcoin Cycles it exactly matches the Peak in the ism survey which is the Business cycle Huh Why because it also matches the peak in The liquidity cycle It just so happens that the liquidity Cycle since 2000 and 9 Has been about three and a bit years Between each time the economy and There's a a lot bigger macro discussion About why that is but I think that
Crypto is just the liquidity Cycle Plus The secular adoption Trend so you know When we all put that logarithmic Trend Up and it gets rid of all of the noise Of the big sell-offs and rallies we know That actually it's a pretty steady rise Over time right that's the adoption of The technology that's the game we're all Really playing But when you put it to the normal chart Does this a lot The thing that drives this is the Liquidity in the system the amount of Money Coming in the system okay So now people say yeah but look at usm2 It's the lowest it's ever been M2 growth Year on year it's the lowest it's Evergreen being Yes but the forward-looking stuff like Chinese money supply growth and credit Has led our cycle by about a year and That started rallying strongly So we're starting to see the point that Liquidity is going to come back into the Market And that makes sense because if the FED Are going to stop raising rates That's going to make things feel a Little bit better Money will come a little bit back into The system even people start buying Bonds again and money starts getting Recycled
And that means that the M2 will start Picking up And lo and behold crypto will Because that's what drives these big up And downs not the halving cycle it's all About macro which is why I've always Been a big proponent of the fact that Crypto is macro and macro is crypto They're all part of the same thing we're Playing two things one is an adoption of A technology at scale one of the fastest Adoptions of any technology in all History And the volatility is driven By the liquidity cycle So I follow you on real Vision crypto It's free I just like I love your Interviews in summation what you just Said for crypto because I believe you Mentioned that in April is when although It might be the most bearish and Sentiment a shift is likely to happen But anyway crypto topped in 2021 bear Market in 2022 just you know thoughts on 2023 for crypto what would you say Crypto spring It's the same for the economies that is For crypto so the economy will feel like Winter time for a bit and then spring Will come crypto forward looks it by About six months maybe nine months Because Heath bottomed in June Bitcoin Bottomed in October So we've got that kind of six month lead
Time So crypto's already in Spring And spring can be pretty amazing so if You go back and look at crypto spring in 2019 As I said both Ethan Bitcoin did 285 percent Then they backed off quite a long way For a while even when the FED were Cutting rates and they stopped Quantitative easing they stop Quantitative tightening and move to Quantitative easing Um it actually backs off a bit from then So let's go back to the previous cycle The 2015 14 15 period That sort similar but actually what Happened was we had this first spring Then we had this season transition Now 2018 the 19 was actually quite a big Sell-off over time 2000 and 15 14. Was sideways from this big wedge And then it all broke higher And so it's giving us a structure of how These things look like when liquidity Comes back this is not a mystery it's a Liquidity cycle So it's going to be some form of rally Probably a lot further than we are now Best guess Consolidation
Sideways or down who the hell knows And then as the economy Continues to be weak and we go into an Election Well lo and behold they're going to be Giving out money again in certain ways Whatever way that is whether it's tax Cuts or anything to create liquidity in The system because you want to win an Election So it's it's like The same setup all over again And that's probably why we keep seeing These setups because it's driven by this Liquidity cycle and every time the Federal Reserve been doing the same Thing they've either been trying to Tighten rates or or you know the economy Slowed down and they need to pick it Back up again so It's interesting so spring is where we Are and we've only just started So if I'm an investor who wants to I Feel like I don't have a big enough spot Position in either Bitcoin ethereum Cardano algrand whatever you know I'm Looking to take out a position in would You say you know in the next either now Or the next three months or six months Is the time I should be looking to buy So you kind of either by now And this is where the market is Struggling with this because a few People have flipped out because they
Made some money called the low you know The people with shorter term time Horizons Um others like it's overbought but Usually these kind of conditions are Where you tend to get these crazy legs To the upside because everybody's Underweight because everyone's got the Same thing as you as I don't have enough Spot oh [ __ ] what do I do then you have To fomo in and you'll end up fomo in too High so this is how it is written it is Always this way Um and so I my my best guess and I don't know I Don't have a crystal ball but usually Because it's set up like this the pain Of the path of most pain is higher And then once everybody goes right it's Going it's running it's running it's Usually when this correction happens so Do you get another chance to buy it Again at these levels if you miss it now Maybe we don't know if it has that Downward correction or the sideways Correction You will get up time to buy after a Consolidation later but really I would Be and this is what I've been doing is Buying you know I was buying from June Onwards as much as I could with any cash Flow I got because I'm still fully Invested in crypto I never sold anything But I've been any cash flow I can just
Putting it in is okay even now I've just You know just put money in recently Expecting a higher move and then if that Consolidation comes that's when I would Add some more again So If you're a longer term time Horizon Player I'm not talking about the short Term I don't know maybe I'm wrongly or Right but I don't find this a bad level To to dollar cost average or just put a Chunk in and realize that there is going To be times when it's going to correct Again But the lowest in Well something that scares me that I Hear about is an inverted yield curve Because that has historically predicted Many a recession every time that is Inverted could you explain what that is And if you put in in any weight to that Well we've already talked about the fact That all the forward-looking indicated Sale recessions coming and the yield Curve is a great one it pretty much Always Nails it right so it's it's That's when long-term interest rates are Below short-term interest rates And what that means is that the bond Market is predicting that future Economic conditions are going to be Weaker And inflation is going to be less And then eventually once the feds start
Cutting then the short end goes down and The long end starts Usually stay stable for a while and then Eventually as the cycle matures yields Rise there as it's projecting that the FED will have to raise rates at some Point in 2025 or 26 or whatever it is so This this is why when the bond Market's Doing this and it's a you know at about This kind of between 50 basis points and 100 basis points inversion which means 10-year yields are 50 basis points right Now they're about 75 basis points less Than two-year yields it's telling you Yeah it's pretty baked in the cake we'll Get a recession which so the Informational value is we know this Because it's been doing this for a while Now So it you know a recession can't be a Shock to anybody and if everybody's Expecting it And here you are two crypto guys talking About yield curves which I love because This is macros crypto right you've all Learned Um is that Um is that okay if everybody now knows Then what is the probability that it Causes more pain because almost Everybody's underweight because they Know it's coming so the cash position is Look at the crypto Market 18 20 stable coins highest ever
That tells me everybody's going to panic The bloody Market goes up Because they are under invested Um so it's just it's very interesting Let's pivot off Macro for a second just Sorry just one thing to go back to with This crypto sorry Um is the only thing that could be that Is a different setup than the sideways Or the gradual sell-off Is let's say we've seen that the US is Trying to stamp on Crypto banking which they've done before And maybe there's some other regulatory Issues maybe the Ripple case goes the Wrong way And they start saying well it could be a Security obviously it would still have To get a cut all sorts of things have to Happen could there be a sharp sell-off So as opposed to the slow one Could it be It pukes 50 in Two weeks And then rebuilds from that that's the Other possible outcome that's in my head I don't know So that would be a if some a regulatory Crackdown obviously that would hurt the Price in the short term but that doesn't Stop the Innovation happening globally Nor does it stop the network effect from Growing could you talk about why you're So bullish on ethereum specifically
You know I I I am Agnostic to who wins I don't care All I do is look at the Chains and think okay I want to allocate Capital What ecosystem do I want to allocate to Right now what has the best risk Adjusted returns So there are going to be several Projects that do much better than Ethereum And we'll do really well I actually Think Solana will do better than Ethereum possibly Um and we can talk about that later but There's many so I'm not saying I'm an Ethereum maximus in any way I'm saying It has observable Network effects Beyond any other Token ecosystem The number of use cases the applications The number of wallet addresses uh the Kind of velocity of money okay that's Amazing so ethereum is really special There but staking is even more special Another thing the US might try and crack Down on Brian Armstrong was worried About this but staking is really special And most people don't understand it Because most people don't come from Finance Staking as we know you get given a yield If you stake crypto and if you do it in
Ethereum what you're doing is you have To stake for a year if you're going to Do it yourself or if not use Lido or Rocket pool or whatever and you can You've got but you've got a liquidity Mismatch there because they're providing Short-term liquidity and staking when it Doesn't actually exist so we know that These things can go wrong not saying That they will but they could So I won't do that But this Shanghai Fork Means that liquidity Is available to any Staker at any time What does that do That creates a money market curve for Ethereum Which is like You know you you people use CDs and they Use two-year bombs and they use this This is what we're going to create And that means you have Financial Liquidity to build things on top of or You're incentivized to keep your money And stake it because you know you can Get it back at any time As opposed to some arbitrary date in a Year's time when you don't know what the Crypto Market is going to look like So I'm going to stake my stuff if I can Then And particularly if I can do it myself Which might be a little more difficult To do but it's in my control
Nobody can default on me it's in the Smart contract And I'm going to get my money So this is a very very big innovation For what can be built on top of ethereum It's also a very very important Mechanism to what ethereum has created Which is It now has this Burning mechanism that Is making it scarcer in Supply And we've seen that just coming off the Bear Market loads the early stages of Spring the first shoots the bloody thing Went Negative issuance already Deflationary I'm like huh And right now there's only 16 of all Leak is staked And if you think of steak teeth has Taken off the market that nobody can use For derivatives or anything else Right so you can't create You know Financial products out of it Well all the other big Um ecosystems like Salama and stuff have Up to 40 to 60 staking so let's assume Ethereum gets to 40 35 so doubling at least of the number Of people who've taken Ethereum out of supply and imagine That's happening in this spring going to Summer There ain't any either This is a problem it actually I think it
May be such a problem in a bull market That It's either going to Force massive upside volatility spikes That become kind of unmanageable Or if if it does drive up fees So much then obviously it bleeds into The layer twos Um but they too consume me so it's it's Still circular yes they they consume Less safe so it's a very interesting Situation so that's why I'm very very Bullish on eth overall I just think it's The most vibrant deepest broadest Ecosystem with the most institutional Style adoption the most that people Understand and let's face it there is Only one money on the internet and it's Not Bitcoin The money of the internet is ethereum it Is the only ecosystem where we quote Prices in a foreign currency Now what was hilarious today there was a Tweet out about the new Bitcoin nfts and They're like they are one point whatever Bitcoin brackets X number of eth I found That hilarious Because eth is the money of the internet Now And I don't think it's going to lose That But that again doesn't mean it's the Best performer because we're going to Push use cases Elsewhere for Innovation
We've got things like sui coming you Know Aptos hasn't fully been utilized Yet we need to see the network effects Solana I think they're aiming for The broadest adoption by using making a Consumer-friendly place you know to Onboard normies Okay that's very powerful if they get That right Then you know and then work with people Like meta and stuff like that Instagram Is very interesting uh that's that's Super amazing polygon okay amazing group What are they doing you know they're on Boarding a lot of people they've got a Lot of throughput super interesting Siri Hasn't even come on to the market yet And that is faster incredible team stuff Like that so there's a lot going on here Um but eth is the easiest way because It's probably got the least risk And then just to finish up with ethereum Before we get to Solana nfts and other Things in crypto You mentioned Obviously the last question for youth is Going to be a price prediction but Before that the eighth layer 2 ecosystem I saw recently on real Vision crypto by The way anybody in our audience free to Go and check that out no paywall but a Recent episode real Vision crypto is was On starkware or starknet Um one aspect of each layer two's
Ecosystems also optimism arbitrum Roll-Ups polygon is there are you Bullish on each layer 2 is it worth Investing in today are you just waiting And watching as you said it makes the Whole ethereum ecosystem much stronger But yeah I had a bit of Matic But I don't know how to approach it Because I don't know how to measure the Network effects in terms of because it We don't know how it works really yet Because it's it generates so much less Fees so you need so much more Transaction volume to generate the Network value You know bitcoin's Network value is less Throughput higher transaction values Right that's why Bitcoin is still the Most dominant chain and I don't think That'll last because of the Dynamics of Heath and again there's no dis against Bitcoin there's different things So I don't know how to Value the layer Too so I'm watching them with interest And I got a bit of cash in them Um And I'm sure I'll fomo into something at The wrong point at some point But why don't the Ministries or like the The bigger traditional Finance guys they Go from Matic first why is that I think their marketing team is better Right you know the game of network
Adoption is also attention You know and they've just done a better Job of getting attention they understood That doing a deal with Google which Actually meant nothing actually got them Headlines everywhere that they've done Deals with Google they did one with Disney too they're not doing anything Really with Disney But oh Matic Disney You know narratives are what wins in This game Um and you know that's one of the Reasons Bitcoin has kind of not Outperformed in this down cycle is Because it's lost its narrative It became much more insular So that insular narrative is you know You have to Eat steak do nothing but stack SATs and Have this lifestyle of complete Nothingness you know it's not appealing To that many people So it's less vibrant it's just it's Interesting so because these are all all Memes as well as technology but it means That drive the adoption and then whereas People join it they start creating use Cases And then finally on eth Price prediction for you choose 2023 or This coming cycle what do you think I don't know I always get you know there Was no upside to price predictions
Because your face gets rubbed in it they Cut this clip out and then say look at You you're a [ __ ] [ __ ] so you know I I hate doing it but you know I don't see Any reason why it's not above ten Thousand Um I see no reason at all it's not about Ten thousand so you know that's a decent Upside from here By 2024 Yeah I totally understand for all the reasons You mentioned why ethereum has sort of Maybe some of the best upside potential With some of the least risk in crypto But what is that why Solana because it Seems like they have so much cell Pressure from the FTX owned a lot of it What makes you bullish Because everybody thinks the same thing Everybody got forced down Everybody's like the chain breaks tell Me something we don't know Do you assume that That um The team at Solana who are very smart Don't know that and haven't been working On it of course they have Um well all the VCS are all stuck does Everybody knows this So So then you've got to say okay Whams if everybody's wrong
S if it is actually that vibrant Ecosystem that has the second largest Nft community and is on boarding a lot Of people and has retail stores and has A mobile phone And is doing deals with meta and is Okay Well then the price is well wrong So I just flip up the chart of 8th in 2018 And then put it against the chart of Solana They're pretty much identical Eth did 47x from that low And we got down to nine bucks or Whatever it was or eight bucks in Solana I mean so really a A decent amount Already And so you've got to ask yourself is is The narrative right it's the same with The recession idea right if everybody Knows it to be Then everybody's position for it So in which case imagine if Solana Continues to do well and they're Hacker houses continue to build great Products and they get Traction in places That we didn't expect They're one announcement or something Some adoption moment away from everybody Having to panic and if I look at the Chart of the eth Solana ratio It's been this beautiful downtrend and
It's touching its nose up against that Thing now does it break out I don't know I don't have a huge bet in Solana but I Have a bet and I would if I saw the Right situation move some of my Ethan to Salama and that applies to other things Too but what Solana's interesting is it Got battle tested Right others haven't been battle tested Polygon's not really been battle tested In the same way yet you know we haven't Seen the full size of the community Solana is very vibrant so that's why you Battle test something you've got the Lindy effect where it survived And then we have a crypto spring and Bull market arriving And we can see real economic activity Going on there okay I like that And this would be more of a trade for You to accumulate more eth oh it's not What I'm hearing is it's not so much Long term you're willing to take the bet No I I I'll take this bet for the next You know for this whole cycle so you Know I'll take that back for two years And wait and see now if it doesn't play Out and something happens I'll change it Because it's not my core well ether Won't change you know sure I might Eventually use some of my some other Stuff and some other bets where I think It might outperform me but generally That's my core position
Um and then you know we'll see how it Goes And if Bitcoin gets let's say 120k to 150k this cycle if ethereum is getting Close to 10K this cycle Solana could Maybe get to what this cycle thousand Hair to dream Dare To Dream Maybe not Maybe it's 500 maybe it's back to the All-time high any of those are all great Outcomes You know any of us will take that So we've got a battle tested chain that Has real economic activity that can go From wherever we are today 24 to 240 Whatever the high was 283 I can't Remember whatever it was is well okay I'll take the 12x that's the worst case Yeah 12x is great in any other industry Yeah not in early stage tokens but they Come with higher risk Raul So Solana is your Um maybe number one counter narrative Crypto pick but I'm gonna put to you Three name coins you can only choose one Cardano algorand Avalanche which one you Like I don't know and I'm gonna say Avalanche Whoa Avalanche over algorand and cardana Well I would put I would rank if you Want to rank them I'll put Katana third I would put
I don't know between algorand and I know The algorand guys pretty well and I know The Avalanche guys pretty well they're Both trying to solve similar kind of Things which is finance real assets Bunch of stuff like that Um And they're both smart groups so I don't Know who will win out of those two Um but I would say that Avalanche Because of its speed and it's you know Those subnets or whatever they're called You know they might have the Technological advantage but I don't know Don't hold a strong view on any of those But the reason Avalanche you like it the Best is because you like what they're Doing with subnets that they're Prioritizing for Speed and transactions Which you know a lot of cryptos are Doing but you know they're executing Yeah that's right they're executing They're doing volume it's a real you Know it's a real thing Um and I know they've got you know good Plans to try and do more Raul and then Just one more sorry Austin Um me and Raul are having a moment but Uh cardano made number three now that Might surprise a lot of people I think You've talked about Cardona before what Is it if cardano could improve on one Thing to make it higher on your list
What would you say Because I have an nft Market they have Some stuff you know use They've got the things but if for some Reason It's got a amazing community But the It's lacking on Vibrancy of projects that are coming to Market that are creating things that People are engaged in And the you know the using it in Emerging markets that was a small use Case that was there to explain but it's Not really got Traction in that so It is doing well And I'm not comparing it badly to like Why doji's which is the most extreme Example doge is a really biased Network Right because it's all Um retail And no applications Now I'm always interested in Doge Because if Elon decides to use it Across his ecosystems then it's going to Have a lot of applications and Newsletters in which case it's wildly Undervalued because it has this Vibrant Community And it's same with Karana it's got very Vibrant Community But it doesn't yet have The Breakthrough in use cases That would cause a real explosion in
Price versus the rest of the space it'll Have beta to the rest of the space but Not A big change and that's what that's what I that's why you know if I see the speed At which Avalon's got uses use or Algor and less so even let's kind of True about around too right To be honest And again they're not like anything's a Bad project It's like it's the it's the whim of How the world works It's very difficult to tell people To not develop on ethereum Polygon Solana when there's tons of devs Tons of people it's really hard to break That which is why it kind of ends up That these bigger ones end up getting Bigger Raul I'm a huge fan of your Twitter and You're just speaking about the community That not on Twitter but just now that Elon Musk has for Dogecoin and a Perspective I see from you on Twitter You're still insanely bullish on nfts How do you see that or correct me if I'm Wrong but how do you see that evolving Over the next few years are they going To still be the same profile pic ask Nfts that we saw in 2021 I think I'm gonna do a whole piece on This Um because I still think people do not
Understand how big this is and you know I've done some big interviews with Punk6529 and other thought leaders in The space but I just think people have No comprehension of how big this is and What it is Um so I am incredibly bullish we're About to do something very big with real Vision so watch this space Um and watch my Twitter feed for details Uh over the next month But the point being is firstly At just simple level We've just gone through a bear Market Everybody in Bitcoin ethereum's throwing [ __ ] at each other The nft community is saying good morning They're vibrant they're having fun and It's optimistic Okay that's interesting right if you go Back to that Paul Tudor Jones quote what What got him into Bitcoin was the fact That The market Falls 85 and 80 of people Don't sell Right here we've got a bunch of people Having the time of their lives in nfts And losing money and nobody cares it's Like huh that's a signal to you that the Power of the community model that we've Even been talking about with these other Chains Is even more prevalent that the Applications layer with with this and
Whether it's pfps or whether it's Membership passes or whether it's stuff Right Okay great What is amazing about all of this is you Know behind me I've got my token frame There's my ape up and uh you know flip Around it's got my punk and stuff like That These things like the ape or the punk They're like in a bear Market they had Held 65 each floor the entire thing I Wanted to buy one but I was like damn Like they're still 65 Heath So it had come down so I bought that my Punk more recently because I thought Okay what's the downside here so this is A thing that people do not understand That I need to express to people So the downside of my ape I can't Remember what I pay for it 70 something The downside was that low which was the 55 low that hit in June okay so that's Probably the worst case scenario when Everybody wants a liquidity Now the upside of these things could be Anything But more importantly They're priced in Heath this is the bit People don't understand It can stay at 65e for the rest of its Life But if Heath goes to ten thousand I've still got my eath
Now if that punk goes back up to the All-time highs Triple the amount of money I've made in My eth So I get this thing of being part of the Punk coming into the eight community and The other things and some of the Benefits I mean Apes give me yield Because I get given stuff all the time And it has money Punks is the is the right or you know That's my people there so you know You've got stuff like that that Have a scarcity and a status within the Ecosystem It trades like property So in a recession the thing that goes Down the least is high-end property It becomes stable and illiquid But when the ethical ecosystem is Vibrant or the property Market in LA or London or Cayman Islands or whatever When the economy is booming the high end Property goes ripping higher than Anything else Because people recycling money into Assets These are the Grail assets Of the entire crypto world so people Recycle it because you're still not Selling your Reef it's not like you're Taking off the market Um so from that alone it's a really Interesting thing
But it's much bigger than all of that Because really what this is Two concepts that people need to Understand firstly in the digital world You can endlessly reproduce everything At zero cost Don't forget this we'd have to do in a Bloody studio with camera people and all That stuff that's why we started real Vision like now we just do this it's Free it's basically free up half my time So everything that's digitized goes to Zero and value or cost Because you can produce infinite amounts Of it Yeah when we started real Vision there Was no competitors and now there's a Thousand okay that's really interesting So how the hell in we're hurtling into The metaverse and this increasingly Digital world How do you stop everything being Worthless Well that's what blockchain does It creates scarcity In a digital world okay that did not Exist right that is the big breakthrough Then what the other breakthrough was Vitalik's breakthrough which was smart Contracts Every single thing we do as humans is a Contractual term That we interact with any part of Society so me coming on here is a
Contract It was a written contract over email hey Do you want to do this yeah fine right That's a contract Everything from your house your Ownership of your house the ownership of Your car and we've just seen that whole Thing with tezos and the new car Ownership and they're going to test that Thing out in California Um but every single thing that we do is A contract That's all going on chain People don't understand how big this is And when I I use this all the time Because again people don't understand Ticketmaster Every time you go to a gig The ticket that they have Is now web free ticket And then they drop nfts to you they've Dropped 10 million nfts more than Anybody else in the world Because what is a ticket it's a contract So if you can create contracts that are Provable Auditable And those contracts can be scarce or Non-scares You've built an entire Financial system And system of value Whole value system so Financial system Just sits on the layer of value system That didn't exist so this is not a small
Thing this is a societally large thing And nfts Are the start of that And real Vision crypto completely free Link down below if there's one interview That our audience you would recommend Our audience check out what would that Be God let's bring some good ones I'm going To give them two if you want the big Brain blowing stuff Connect my interview with punk6529 and My interview with Balaji they're both Very long so you need a bottle of wine And some time Um but those will give you the broader Concept of how big this all is and what We're talking about Because it's not about flipping eight Pictures Or you know d-gening that's just at the Margin the small part of what this is Really what is really happening This is why Financial tuitions are Interested in all of this not because They can make trading books it's because The entire Securities industry is a Contract And it's inefficient settling stuff Money is a contract right why do you Think central bank digital currencies Are coming Because the blockchain is a more Efficient way of settling money
And nfts a more efficient way of Settling every contract that exists However unique it is so that entire Derivative industry which is four Quadrillion dollars or whatever the Stupidity of the size of it That is the size of this My final question Is AI not a trend here to stay AI cryptos What are your thoughts So AI look is is societally game Changing on a scale of which again People cannot imagine People have no understanding this what Has just happened with chat GPT is a Cambrian moment it is a I think a bigger Deflationary shock to the world than China joining the WTO this is one of the Seminal moments of our time so that's How big this is Ai and crypto So my people want to force these two Narratives together because ai's sucking All the air out of the room because it's So [ __ ] cool and we're all like oh my God this is the singularity coming and When are the robots going to take me Away and all of that stuff right which We should be worried about that's a Whole nother long conversation for Another day But how how I do think about this Is okay here we are again about to
Repeat the same mistake we're going to Accrue all the value to Google and Microsoft So I think some of these more open AIS Like stability III should tokenize the Network So then Society can share in this Because it is so bloody disruptive That when you let Society share In the economics of this And so if you're using a lot of compute For AI calculations you have to pay In tokens if you're giving compute you Received you know there's a way of doing This building models you can receive you Can create a two-way economy around a Network which I think would Be very valuable and would create Massive Network effects because Everybody wants to build on that AI Network Because if not we are going to accrue All of the spoils to two or three firms All over again And I think it's really important to Tokenize this I have no ownership in these coins but The ones I think of that are AI at Cryptos Singularity net fetch AI Any thoughts on the ones we already have Or do you see a new crop no I mean I Also I saw Richard Galvin who's a great Hedge fund manager uh dicm talking about This too and I asked people that is
There any utility any traction is any It's kind of no it's like It's great to have the name AI And they might continue to pump because Of it but until we see some real Applications layer If there was a stability diffusion token Hell yes I'd buy that Because don't forget That chat GPT Was now has now Supply surpassed Cryptos the fastest adoption of any Technology the world's ever seen it went From zero to 11 million people in 20 Days Imagine if you owned a part of that Network That'd be crazy Error and final question Raul thank you so much for coming on Today again I encourage everybody go Follow Raul on Twitter realvision crypto That stuff is linked below my final Question if you Raul and you know just Basically final thoughts maybe best Advice for crypto investors going Forward final thoughts to the altcoin Daily audience I thought on all of this is I said this A lot zoom out Zoom out and realize you don't know Anything Accept that you don't because none of us Do you know that whole series I do Rouse
Adventures in crypto is truly Authentically me tapping people on the Shoulder I want to talk to and say hey Let's talk about this let's try and Figure out that that's why I get the Balaji's and the okay everybody from Kimball musk to Balaji to 6529 to Nova Grand I mean you name it they've all Been on that because that is just all of Us sitting down to try and learn so you Can peek over the shoulders of you guys Learning or me learning find people who Are credible and authentic Don't go for the people who try to make You rich go for the people who want to Help you understand what this is really All about so zoom out think of the big Picture understand some of the things I Talked about today and realize that you Can try and make money Trading We can participate in one of the largest Technological innovations the world has Seen and just let it play out Don't use Leverage And enjoy the ride I love it thanks for all thanks guys as Ever great that was a really good Conversation loved it Foreign
