← On The Chain - Blockchain and Cryptocurrency News + Opinion
On The Chain - Blockchain and Cryptocurrency News + Opinion
BIGGEST XRP NEWS Since 2012? | Staking | Flare Deflationary
01:29:40
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- [00:02]
Jeff
What is going on everybody? Jeff, here on the Chain tonight is one of those rare episodes where the XRP ecosystem quietly steps into an entirely new era. You heard it here first. Ripple engineers are openly talking about something we've never heard from them before. Native XRP staking. Say it ain't so. If this happens, it could be the biggest change since the XRPL launched in 2012.
- [00:30]
Chip
Yeah, exactly, Jeff. And the conversation is happening really at the highest levels. Akinyele, he's the new head of engineering over there at Ripple, David Schwartz. Then we've got Ripple leadership. They're exploring what staking governance and upgrades and a new defi primitives might look like natively on the ledger. This could be a major signal.
- [00:54]
Jeff
And if that wasn't big enough, Flair's Hugo Fallon said they're working on making Flair non inflationary deflationary. That's a tokenomics earthquake.
- [01:07]
Chip
So we think about XRP staking talk at the XRP governance evolution. There's deflationary flare. This is the stuff that reshapes entire ecosystems. So buckle up. This is badassery. This is on the Chain. You ready to go, Jeff?
- [01:24]
Jeff
Let's do this.
- [01:26]
Chip
Let's go. Welcome to on the Chain. Welcome everybody to on the Chain. Drop. We are coming in here we have Dakota Shipley in here. You guys don't know Dakota. He's an og. We haven't seen him in some time. If you guys don't know who he is and he's hasn't been around in a while. But it's good to see him here. Og, one of the early, early supporters of on the Chain. So it's great to see him back in the fold. I mean most of the time he does watch the replays. He never really comes on live, so he another reason you might not know who he is, but there you go. And he's back in the fold. So you gotta like that a lot.
- [02:06]
Jeff
Back in the fold with us.
- [02:07]
Chip
I like it a lot, Jeff. I like it a lot. I like it. You gotta like it. You gotta like it, man. Good stuff. So it's very cool to see that. Where are we coming in from? An OG member from way back when. Oh yeah. Oh yeah. It's been a while. It's been super busy. Happy holidays all love hugs and good health everyone. See it brings that positive attitude with them wherever he goes. Fantastic. He's one of those guys that always leaves comments too which really like, let's go otc. We got sledfast in November to remember Crash and Burn, Shake out the century. We've been shaking people out since Jeff. How long have we been shaking people out? It's the final, final, final, final shakeout. It's like, you know, if you've ever worked on a document so you don't know what to call it, so you called it whatever the name was. Then you put final. Then you put final, final. Then you put final, final. You put final five, final six, final seven. This is, I don't know, we're on like final 27 first. The final shakeout of the century. There's no shakeout final 765. We've done over 800 plus episodes of this. So, I mean, there's a lot of shakeouts going on that can happen along the way. So there surely is that little bit for people to uncover. You know, you know, you know, you know, you, you know. If you know, you know, Jeff, that's what they say. If you know, you definitely know. That's it.
- [03:35]
Jeff
And if you don't, and if you don't.
- [03:37]
Chip
I put out a post today, earlier if you guys want to find it. And again, I very, I doubt very many people know what it is. We will play the reference video tonight and if you know, you know, and if you do, you'll pop it in the comments. And if you don't, that's okay. I don't even think Jeff knows, but I know because I'm deep down those rabbit holes way too often on Mr. Conspiracy Theory. Too many, too many rabbit holes to talk about. But this is J ao Akaneli. He is. I know this guy from before he joined Ripple. You know, I've been following him for some time, but he's the head of engineering over there. He's an advisor at Yale Tech, Yelly Tech over there, developer, lock keeper, MPC wallets for Web three. And he was, yeah, Bolt Labs is where he was. And charm crypto. So there you go. But he just joined Ripple and I think he's going to be a very positive influence. One of the things he said here, Jeff, is that he wrote this thread saying that XRP has always been about moving value quickly and efficiently. But over the years it's gone from powering payments to help settle tokenized assets to enabling real time liquidity across a bunch of different markets.
- [04:45]
Jeff
That's it.
- [04:46]
Chip
And so now with the first XRP spot ETF live from Canary, and there's others expected, by the way, we have another one that's going live tomorrow. It's clear that the ecosystem is stepping into a new phase. Especially in the institutions basically start adopting products like tokenized treasuries and MMFs. And all this got me and see how he see we drags in somebody really important. Joel Katz, better known as David Schwartz. It had me and David Schwartz thinking, what if we supported native staking on the XRPL one day? What would that look like? Now, Jeff, would you ever, in your wildest dreams have ever expected this conversation to come from somebody? Now look, it's conversation, right? It's wonderment, it's, it's speculation. But the fact that the conversation's happening public, what do you think about them talking publicly of what would it look like if they had native staking on the xrpl?
- [05:41]
Jeff
So I think they're, they're talking and getting ready to forecast, you know, something, something amazing. You know, the other, other part about all this is, you know, you think about, you know, the xrpl. What does it take to actually move the needle with the xrpl? You know, a vote of the validators. And so here we go. You know, big, big things coming. I like seeing the conversation and the, the discord. Interesting thread that he's really drilling down all of this. What if we supported native staking on the XRPL one day? Something big's afoot. You know, you can, you can already see it, but they're also testing the waters a little bit, right? Because are they gonna, are you gonna, are they gonna kind of draw outside the lines of institutions? Are they thinking about staking from a end user kind of retail perspective? Or are they still like, hey, we, we want to build it for the institutions to then allow staking, you know, through their platform. How is this all gonna, gonna work? It's, it's, I guess, like we're gonna see more in, in this chat coming up, you know, as they, as he breaks it down some more. But it's, it's pretty impressive.
- [06:54]
Chip
Yeah, it's, it just took me by surprise. Like I had to read it twice. I was like, whoa, wait, what? And look, I mean, it's just speculation, but I don't think you get to do one of these posts without other people knowing about it. Surely you know David Schwartz as well. So you're talking about the, the, the cto, at least until the end of the year, but you're talking about somebody who is the inventor of the xrpl. So the fact that they had this conversation is big. He goes on to say that most networks today use staking to align incentives, but XRP is really different. First of all the transaction fees are burned. It's built for settlement of any asset quickly, efficiently and at low cost. Network validators have an equal vote regardless of assets held, stability and trust, not necessarily awards. So it is built differently than a lot of stuff you do see around another blockchains. And for staking to be possible, they would need two things. A source of staking rewards. That's kind of important, Jeff, like, where. Where are the. Where are the rewards coming from? People love the stake, but you go like, okay, where's the yield coming from? It's got to come from someplace. And when you see these crazy, you know, 19, 20% yield, you're like, how is that happening? So the first one is like, you got to have a source for where the staking rewards are coming from, and then you need a way to distribute them fairly. Right? So that's the other thing too, is like, I kind of think it's getting back to this other one that the. The validators have equal vote regardless of assets held. And also too, the Zao Dao is very similar in nature where the Zodao, if you're a whale and you have a million xrp, there's a sort of a. There's sort of a limiter on that, so that you don't want whales, you know, five whales, controlling the voice of everything that happens on Zao Dao, because it's the decentralized, autonomous organization, you want to make sure that it's all sort of equal. So he's getting to this point of like, how do you distribute them fairly? I think number one is probably the bigger one, like, where does this yield come from? I have a couple ideas that where this yield could come from potentially, I don't know if it's going to be that exciting, but I think there's a potential ways that it could be. And number. He goes on to say that both would change how the value flows through the XRPL network in ways we need to think through carefully. So talking about the idea of native staking the xrp, xrpl, I should say, helps us understand what could evolve and what should stay the same. Curious where others land on this. And then he just basically put this up. This is kind of like, you know, exploring XRP and defy what it takes to teach us. And there's some other sort of thoughts on that. What are your. What are your thoughts on just like the fact that they're even putting this out there?
- [09:45]
Jeff
Well, that's the whole point, you know, I mean, the. An idea that it is hitting kind of the, the public, the public space having that kind of discourse that of out in the open. We wouldn't, I don't think we necessarily would have seen this, you know, not that long ago. The biggest outspoken person so far in the space and not so much even talking about from a crypto perspective has been, has been Schwarz, right? He's always airing somewhere on the side of, of something. But now, you know, we're starting to see a big pickup I guess if you kind of backtrack a little. The two outspoken Schwartz always commenting on everything but crypto and then Brad Garlinghouse always, you know, kind of leading, leading the charge in the media now, you know, really starting to see this kind of a change of thought process in terms of engagement with the, the bigger audience at play and talking through different ideas, different points. I like, I like where we're going. I like being, you know, the, the idea of, of them, well, I would say of the industry kind of growing up to a point where we start seeing development, we start seeing growth and it's growth because of mainstream adoption, it's growth because of mainstream utility and its growth because we're starting to see through the mainstream there's problems that have to be solved and we're starting to see solutions and ideas and discussion points on how are we going to solve all these problems instead of just, you know, fluff and speculative ideas or you know, invented problems, you know, or solutions that are in search of problems. You know, now we're starting to see it all coalesce. You know, it's one thing you go back a couple years and they kept talking about the cross border payment and simplified and cheaper. It all seemed, hey, it's a great idea, but it seemed like a dream at the time. It's like we're so far away from that becoming a reality big time. And now we're bridging that gap. That gap of reality to technology is shrinking at such a rapid pace. But the cautionary word out there is that there's a lot of bad actors, a lot of, of individuals within government, governments on a global scale that you can't trust because they're also talking about the shift to digitization of currency. Now you have this digitization helping business, making it cheaper, making it faster, open, opening up solutions for the many to engage and having access to your money, you know, instantaneously. And then there's the programmability of the money through the, through the central banking system. And this is where we're at right now, I think there's, we're getting ready to go into a highly competitive phase. We're going to start seeing companies getting bought out, which we've seen, and we're going to start seeing them getting crushed up. And then we're going to see the battle between the central banking system, traditional banking system, and crypto banking system. I think we're getting, we're getting ready to go into that juncture. You know, it's. It's so close. And it's all going to be based on, on workflow. It's going to be based on cost. It's. And it's going to be based on tech stacks and efficiency and, and you know, those that are in power right now don't want to let go of, of what they have, you know, and there's reasons why they have that in place. So it's going to be an interesting, interesting point where, where do you see where that's at right now? The fact they're talking about it and the direction that we're going right now from.
- [13:46]
Chip
I mean, just imagine, I mean, anybody who's casually purchased XRP or knowing the value that it is right now, I just think that would be such an incredible boom to the blockchain itself. You would see people flooding from everywhere. Right? Even people that, you know, maybe XRP is not even their largest bag. Maybe they're Bitcoin and more into Eth or Cardano or whatever it is. I just see them as purchasing XRP and it just would bring so many new people over because the whole idea of natively staking right on the XRPL brings a level of trust as well. So I feel like if there was a way to make it happen versus like a side chain or versus, you know, if it's a layer two, anything else, you know, anything aside from that. But you know, the xrpl, the fact that it's open source, the fact that it does not owned by anybody. Okay, yeah, it was created by David Schwartz. But the whole idea of the XRPL being so stable and everything else, there's always that other fear of like, hey, do you want to mess with it? I mean, right now it performs a task really well. I think that's. Schwartz was really initially maybe a little bit nervous about altering the XRPL just because of the smart contract conversation. Right. So then that's a layer two type of thing. You know, it's not going to necessarily be a sidechain or something along the lines. But now you're talking about native staking. If there's a way to do this. I mean, first you got to figure out the big ones, like, where's the. Where's it coming from? Someone said in the chat that it could come from the escrow. That's one way. Right. But that's. It could come from one of Ripple's other products too. But you got to figure out like, okay, if you're going to do the staking, you know, where's the yield come from? It's got to come from somewhere. And is it going to be big enough? You know, you got 4%. It's like 4%, right? The money market account, you get 4 to 6%. You can usually do about 8%. So it's kind of like if you got something. But the fact that there's so many Hodlers. What makes XRP so different is that you got people hodling through the SEC versus ripple. You had people that bought 2017, 2019, 2023, people that bought during the dip that happened during the sec. People that are purchasing now, but they're not doing anything with it. Yeah, you can have a credit card, you can spend your xrp. The bottom line is, is that most people are hodling well. It's just sitting there. You know, if you take money and sit it in a, in a, in a, in a savings account, it's losing every single day. Right now it's a little bit different when it comes to crypto because, you know, it's gonna, it's gonna have some movement either up or down. But if you can put it to work for yourself and then you could be on the xrpl, I think that'd be huge. And I think it would certainly be great for the blockchain itself and notoriety, because the native D5 thing would be huge. I just don't see how it's going to happen. I'm just happy they're having the conversation there. I look at this right here. Brad Garlinghouse commented that with new D5 protocols and apps emerging for XRP, what other possibilities for the network should be discussed. Ripple engineer leader, you know, talks about a Kenya attacks, tackles this, and the questions need to be. So you can see this is happening from a, from a high standpoint. Right. Somebody's floating it out there. It's like a test balloon. Right. How are people reacting to it? Does it make sense? They're kind of throwing it out there to see if it works. David Schwartz chimed in also, and he said the XRP ledger was created in 2012. The world of blockchain has Changed many many, many times since then and my own thoughts about governance and consensus models have evolved. I've been mulling over how XRP is used in D5 both organically and apps and protocols like Flare, more markets, xlr, Doppler etc and then natively on chain. With programmability initiatives and smart contract discussions underway, it seemed like a good time for us to also Discuss what other D5 capabilities could look like. He said that Jao wrote his great introductory blog post. He got two of the big I guess spokespersons right? You got David Schwartz CTO and you got Brad Garlinghouse talking about it and you know nothing that ripple puts out there, even if it's somebody that's not in the official ripple account, you know it gets worked over. You know it has to go through approval stage right. At least a loose outline Jeff it's not that's not just on a whim right where they got behind this. They've been talking about this for some time.
- [17:54]
Jeff
Oh yeah and that's why.
- [17:57]
Chip
That's the way I see it.
- [17:58]
Jeff
Yeah.
- [17:59]
Chip
There you go then there's more well so vet came in vet's well known great dude around the the ho xrpl he's also a dab but he said hey this is interesting topic Ao my thoughts are this staking typically to elect the next block producers and the POS consensus chains so what's so what problem would we solve in the xrp? A non POS chain misalignment potentially this could lead to a higher transaction fees as a balance need to be found by these receiving rewards and those using the xrpl. Then you got redistributing transaction fees and the consensus mechanism of the XRPL would still need to clarify who can earn would they be UNL modes or validators? Think of civil vectors and only UNL nodes would prompt the system to fork more frequently in my opinion. Will incentives lead to validators clustering? They they tend to follow cost benefit calculation, run cheaper hardware, lower cost data center, more economic beneficial regions but a lot of questions but I love the discussion on this already so Jay AO stopped in here and he said yeah I appreciate your thoughts Vet. Everything I'm seeing is purely a thought experiment Jeff.
- [19:15]
Jeff
Right?
- [19:15]
Chip
Yeah that's all it is a thought experiment. Not not necessarily a proposal to change how the XRPL works. Sometimes walking through the what if helps us highlight why the network was designed the way it is and informs us on how it's possible within that design.
- [19:30]
Jeff
That's it.
- [19:33]
Chip
But to respond to Your main points with casual readers in mind you'll lose some of the people with the real heavy tech talk. It says the XRP is in pos. So staking wouldn't be about electing block producers. Yeah, he says, I totally agree on that. An XRPL validators don't compete for block production or rely on stake weighted influence. Consensus is deterministic. It's based on unls, not necessarily economics. So if we even talk about staking here it cannot be for consensus would have to solve something completely different. Next one is there's no built in tension between users and validators today and that's intentional. Fees on XRPL are anti spam fees, not revenue. I mean they're small enough. Somebody had made this post, Jeff, that they said they were, they were laughing about the XRPL saying there was only 149 in transaction fees. I'm like dude, do you know how many transactions there have to be to equal 149 in one day? That's a crap ton. It's like point 0,000, right? Think about how many transactions that is. But somebody was laughing going Only $149. I was like dude, that's, that's, that's a big, that's a big fee. They go on to talk about fee redistribution incentives that could push operators to cluster. We're not going to get in all this. But I just thought it was an interesting conversation and certainly one that could totally change the face. I like the fact they're thinking this because whether they ever actually do this or not and actually make it work on the XRPL natively, it could help spurn some other products, some other things could come out of this conversation. But I'm just happy to see that they're having this at such a public level and looking for a lot of input from people. Got nothing. Joe, he said nothing.
- [21:22]
Jeff
I missed, I missed what you said.
- [21:24]
Chip
I just said, you know, I was just happy that they're having this conversation about it, you know.
- [21:28]
Jeff
No, no, without a doubt. You know, and again that it's taken us into a different, a different point in the development of the space and that, and that to me is, is, you know, the exciting part. That's the game changer. You know, it's out there in the open. They're talking about the. And that's why we put it right on the thumbnail put in the title. Is this the biggest news since 2012? What are they talking about? How is that going to shift the technology? The XRPL and we've dug into this so many times was probably one of the most powerful, you know, chains that they put together. It's, it's, there's so much baked into the xrpl. There's so many opportunities for companies to take advantage of right from an A, a built in native fx, you know where and it, the technology is there and now it's just a matter of the efficiency is there, the speed is there. Look at it. We're using XRP Cafe built on the XRPL transferring NFTs, music NFTs to you know, through, through the blockchain in the matter of seconds. And that, that to me is impressive. You know I'd like to bake in a video NFT to be able to do that but to be able to see audio NFTs and, and the, and the JPEG, you know, based NFTs, you know, static image. And now what we're just moving at such a clip. You go back a couple years ago, look at where AI is today. How crazy is it the videos that you can, you can use Sora or you can use GROK for and it just like in instantaneous. Now imagine you know with the technology of the blockchain we're going to need it, we need it now more. All these technologies have to come together. I was reading an article kind of about the shift of AI driven scams to where before they send out emails, you click the link. Now there's you know, phone calls that are completely AI driven and they sound like you know, somebody that, you know, it sounds official, right? And you're having a full blown conversation with someone through AI. Now you have to tell me that all of our, our now, our financial data, none of it is really you know, tr, you know, traceable with that, that final, I want to, I want to know the transaction data. You know, now you have to rely on the banking systems and all that. I, at least there's FDIC insurance and there's all these things that are backing you up. We're seeing people getting wrecked in the crypto space that are, you know we, we talked about that the other day. You know, how many XRP just instantly gets yanked out of someone's ledger, you know, but there's so much that has to happen yet in order to secure this space. But these kind of conversations that you know, that we just saw that is like the beginning stages, like okay, now let's have a discourse of how much more can be done within the space. How are people going to earn now if you are staking as, as that, as vet was, you know, kind of breaking down, if you are going to say where's the money coming from? What, how, how are we going through all these platforms? What are they investing in? What are they doing to earn reward that they can now pay out reward to you? Where, where does that flow come from? At least you know, with, with Bitcoin, they know exactly where it's coming from when people are mining, right? It's from the, it's all being processed and those are the rewards that are being. If in the absence of that. And then it has to be traceable. But, but the, again, the technology, the idea behind it, the banking system is flush with, with lots and lots of money that can easily be distributed back to the people, you know that are engaging in investing. If we go into insurance agency, you know, the insurance. How, how is it that insurance companies are making such massive margins right now? And then think about the lack of efficiency. So you go and you buy the insurance. But why are there all these people caught in the middle of all of these things in the real world that we can now get rid of it? You know, I mean it's, there's just a lot that can happen. What was that one tokenization on Solana?
- [25:43]
Chip
Yeah, of course. And then Nicole is asking if, if you think, if we, when do we think there's going to be a supply shock? When, you know, based on the ETFs. I mean, I, I guess, I guess the, the over. The prevailing idea here is that if you have, if you have the, the ETFs that are, that are loading up, you know, you have 18, 19, 20 of them that are loading up and they're putting their buy orders in and then you know, you got state things that are staking. So at some point you could have some sort of a supply shock. When does that occur? I don't know. I mean, I don't really know. It's possible and it has happened before. I mean it's a lot. It's largely what ran up Bitcoin. That ETF was purchasing something like 65, 70%, just a couple ETFs that were purchasing it all. So yeah, you're gonna, you've already got something that's very, you know, hard to come by anyway, right people. So it could create a supply shock. When does that happen? I don't know, Jeff. I don't know when you think that supply shock happens. But if everything lines up, you could have supply shock and that could, that could. You know, jack the price up too. Potentially. Potentially. I have to preface that with potentially or there could be no supply shock. So I mean it all depends on, you know, when that might come. You know, Mark Smithson says, Please send my Yeti to Rigged Yeti, P.O. box 7, Mudlik, KY 42167. Jeff is rant building right there. He's building his rant. He's going in there. Trump signed the release of the files. This is by the way, I can't wait to talk about how brilliant a move this is. I laugh every time because I, I, I, I think to myself, are people that stupid? Then I think to myself, yes, they really are, Jeff. And it's not only the people that you think would be stupid. You think about people on, you know, the conservative side, the leftist side of the aisle, they just might be the dumbest people ever. That's okay, that's okay. We're here to break it down for you. But I was like it. This is the MO going back as long as, you know, Trump read his book, man, this is the mo, the, his opera, his operating system works the same every time. Is that people have very short term memories and when we get into that, we will sort of break it down for you guys. I wanted to get into Dr. Schweddy right here. Who said? Hugo Filion. He is the founder and the chief executive officer of Flair. He says flare improvement proposal. He's hanging it out there. Title inflation neutral flare treasury permanent buy and burn via three core revenue streams. That was a big sneeze, Jeff. I hit the sneeze button. Luckily I hate it. That's how I said it and blow your ears out. He's like status draft type economics Core created. 17-11-2025 discussion on X the voltage type is single choice yes or no. Simple summary. Create a permanent immutable flare treasury that automatically buys and burns flare using the modest proportion of three high conviction native revenue streams. 115 of all yield earned on collateral unlocked by the core vault. In other words, the core vaults allowing agents to earn yield on their stable coins. There should be no fee associated with that. Number two 30% of all F assets mint and redeem fees paid in the underlying number three 20% of all Firelight ESS DEFY insurance premiums on phase two. Together these streams could fully offset the annual inflation after January 2026. So in the abstract, just as AVE takes 10 to 20% of borrowed interest as a reserve factor and 100% of flash loans fees to fund treasury and AVE buybacks this FIP could take similar proportions of fees to fund permanent Flare buy and burn. The end goal is identical. Turn the revenue protocol into a direct deflationary pressure on the native token. He goes on to say some other things here, but that's essentially what it is. You give some more specifics. Really well thought out post. And then Hugo, Hugo goes, do you have access to my computer or something? He's like, jokes aside, we're working through the planning on something similar. We will present it as a governance option when we have some certainty on its effectiveness. My goal, if it can be reached, is for flare to become non inflationary or better yet deflationary. So crazy. Like, do you have access to founders like Hugo? I had a great chat with Hugo. He's a really good dude. Can't wait to get him on the podcast. He's just a great guy, man. He's just, he's a brilliant, he's got a brilliant mind. His mind's always like churning and it's like debuggers going and just lines of code are flying. But it's so funny when he's like do you have access to my computer? Or something like, like imagine somebody puts out a proposal very similar to what you've sort of been kind of thinking of and, but yet instead of him ignoring it, instead of him just saying oh good idea, there's some good ideas in there. He actually says hey, so the kind of access you have on X to people who are not only, you know, in the company but basically the founder and running the company. So I love to see this kind of interaction between two people. It's just really fantastic Jeff, to see this kind of, kind of response from Hugo. He went jumped right in there and, and, and, and you know, made us look at Charles is saying about the spot etf. Well Jeff, there's another one launching tomorrow. This is bitwise. Well, he said today's the day. It's actually tomorrow. We're launching the Bitwise XRP etf. The big step forward for xrp, the world's third largest crypto access which aims to reshape the market. To mark this historic moment, we're, we're doing a live X space with Joel Katz, better known as David Schwartz. Matt Coogan who is the cio a bit invest and it's moderated by Ellie Terry. They'll discuss the wild journey. Why xrp, what it means for the XRP army. I'll trade five. What's that Jeff, what are you saying?
- [31:56]
Jeff
Just looking up. I want to see how Long. It's actually been around for.
- [32:01]
Chip
Bit wise. I think it's just. I think it's new. I think it's going up tomorrow, right? It's tomorrow the day.
- [32:06]
Jeff
Yeah. Well they're launching to. But how long is. Has. Have they had it around?
- [32:11]
Chip
Look at this.
- [32:12]
Jeff
I'm like, you know, grayscale has, has an XRP etf but you have to be accredited to invest in it. Here's the, the ticker. So XRP etf. The ticker is actually xrp.
- [32:27]
Chip
So they must, it must have been around a while if they were able to nail that. Right. Been underway for some time. I don't know when it's actually live for some reason I thought it was tomorrow, but I don't know when it's.
- [32:36]
Jeff
I think it is.
- [32:37]
Chip
Is it live now? I can't keep up with all these.
- [32:40]
Jeff
No, no. It's getting ready to go alive. I'm just trying to see. The fund provides exposure to the third largest. Blah blah, blah. All the news just came out today on it. Bitwise Asset Management, the crypto. The global crypto asset manager with over $15 billion in client assets today announced the launch of Bitwise XRP ETF on the New York Stock Exchange. The fund will start trading November 20th with the ticker XR PAY XRPI. It has a management fee of 0.34. How great would it be if their management fee was like, you know, 0.589? That would be some kick ass.
- [33:24]
Chip
If, you know, you know, you know. Yeah. Tomorrow morning on New York Stock Exchange. Pretty cool. Pretty cool indeed. So we'll watch that. So yeah, we're. It'll be nice to see. I think 2026 will probably be the year I thought it'd be 25. Government shutdown kind of screws some stuff up. We're going into the holidays. You know, you got some holidays coming up. So usually it's pretty slow. Around the end of November, December.
- [33:47]
Jeff
So they have been around. The Bitwise XRP ETF is Bitwise's second XRP themed fund. The firm launched the bitwise physical XRP ETP ticker GXRP in Europe in 2022. So they're not new to this whole.
- [34:03]
Chip
That's why it sounds familiar. Zed's asking if the BT Bitwise ETF is the one the Solana hit their previous record on. I don't know. That's a good question. Imagine a black rock ETF pumps in the bitwise. A dog can dream. Woof, woof. Then look at Circle announced this Jeff introducing Circle X Reserve now. You think that's weird? They named it X Reserve. They named it X Reserve. A new interoperability infrastructure for blockchain teams to launch their USDC back stable coins. Built to expand the USDC ecosystem, X Reserve enables developers and users to transfer value seamlessly between USDC and USDC backstage stablecoins across supported chains. A trusted and transparent X Reserve is a Circle deployed smart contract that holds USDC to backstable coins on participating blockchains. Fully interoperable one to one transfers between USDC backed stable coins and USDC for unified liquidity trust. Minimalized cross chain transfers are verified by X Reserve attestation reducing reliance on third party bridges and future extensibility. Designed to support additional assets beyond USDC including eurc, which is Europe. The European version and then Circle's excited to partner. This is funny. They said with Canton Network public blockchain with privacy that works. And then stacks, which is Bitcoin L2 enabling smart contracts and apps with Bitcoin to secure base layer regular stack updates. Two leading blockchains integrating with X Reserve. I'm a little bit lost on like what, what the point of this is. Like if it's supposed to be a one to one between, you can move value between USDC and USDC back stable coins. So I'm like what's the, what's the real excitement about that? I mean you're either going to us. I mean is it because you have a USDC backstable coin? Do you want to move to. I don't know. I just. I quite don't really. I don't know. Is it that exciting? I don't know. Is it? I guess it is if you own if. And then also one to one transfers between the backstable coins for you and usdc. So I didn't. How many USDC backstable coins are there, Jeff? I don't know. Are you aware of these? I mean this one here, I think this, this one here is probably USDC backed, but I wasn't aware that this was like a big kind of a deal. It's not like ERC 20s, right? It's like thousands of them. I don't know. Any thoughts on that?
- [36:45]
Jeff
I don't know. This whole, this whole idea of the usdc, the eurc, you know, where are we going with the notion of the stable coin? You know it's. I think overall it's a net positive. I don't, I don't have any issue with stable coins. I. As long as they're not central bank Digital currencies. I'm okay with it. Now available for the blockchain. But why isn't usdc? Well, I guess U. S they're not all interoperable because we have the USDCE and then there's the USDC Solana, then usdc they're on different, on different chains. I think there was a USDC on Binance. So you had to go through a conversion process in order to buy certain assets with it. You know I, I don't know. That just gets, gets too, too messy. That's what I think.
- [37:43]
Chip
I don't know. It's, it's a lot there.
- [37:45]
Jeff
Watch a USDC stablecoin on your blockchain. So that, that's the whole point is that you can have a USDC backed whatever, right.
- [37:54]
Chip
And you got, you have access to liquidity and you also have access to usdc. So yeah, I guess you're right. It's not stranding your stable coin out there. And basically the key here is the usctc. So is what I'm, that's what I'm thinking is probably the big deal there. So.
- [38:11]
Jeff
Yeah. Hey, so I was digging further into bitwise. Bitwise. The administrator is bank of New York Melon. The auditor. The auditor is kmpg. The trust custodian is bank of New York Melon. The digital asset custodian is Coinbase Custody Trust. The sponsor is Bit Bitwise Investment Advisors. That this is all for the xrp. The inception date is today. The launch is tomorrow. The fund type is an etp. So here we go. Things are, things are getting ready to heat up with this. Tomorrow is going to be an interesting day. But if, and if we learned anything from the drop of the Solana ETF and, and the the other XRP Canary XRP etf it didn't go up.
- [39:07]
Sam
Well.
- [39:07]
Jeff
It went up in the beginning and it went down well right now.
- [39:11]
Sam
So.
- [39:11]
Chip
Right. Yeah. Skill Roble says I don't get why I can't swap XRP to other chains. Cryptos I have to swap to say Saul Solana or E. Then swap the coin I want. Well technically you can swap it all on the xrpl. Pretty simple. You know there's a decentralized exchange built right in there and I think, I think there's a. Somebody built something that you could actually it's a little more friendly to access it. But yeah, the decks can do everything. You swapped any chain you want. The whole point of the XRPL is that you got 5,000digital assets it can swap out to then you got Fiat, so you're sending Japanese yen to, you know, to the UK for the pound. And you could say you didn't want to. You wanted to go into Bitcoin. Right? So that's the whole thing. The strength of the XRPL is that it does that. It does it very fast. But yes, they do. I mean, I think what their, their whole thing here is the fact that it's going to be a USDC back stable coin. You're not stranding, it's giving it that full feature. Plus you're getting that, that liquidity out of the grayscale. Comes on November 25, says Mark Smithson, which is interesting. So it's halfway past, more than halfway past the hour. We have a. Did you make a tune for tonight or. We have no tune.
- [40:28]
Jeff
We do have one.
- [40:29]
Chip
All right, let's do it.
- [40:32]
Jeff
Some tunage.
- [40:33]
Chip
Oh, let's do the tune.
- [40:35]
Jeff
I think you're gonna like it.
- [40:37]
Chip
Let's do it.
- [40:39]
Jeff
It's called Yuck Yuck Rampage. Big bodies, big chaos.
- [40:45]
Chip
Damn. Big chaos.
- [40:48]
Jeff
Big chaos, big prizes.
- [40:50]
Chip
Let's do it.
- [40:52]
Jeff
You have to mute, otherwise you're gonna get some feedback. Okay, here we go. Yeti. The word of the day is Yeti, by the way. All right, this is badassery.
- [41:08]
Sam
Badass. Yetis White Tribe. And front and center, the big body chaos loving, comedy driven wrecking crew.
- [41:19]
Jeff
The Yuck Yucks. Let's cause some trouble.
- [41:24]
Sam
Big bodies, huge chaos Stomping through the snow Laughing while they wreck you they look soft, fluffy and harmless but no they're jokers, they're pranksters they're icy little beasts Cross a yoke Yuck and get your head round up your bleep they're jacked up on badassery Coffee bouncing off mountains Crashing through trees Chaos is fur coats doing what they please they tumble, they rumble, they clown with flare Flipping on the ice and still dunking on the bear they jiggle, giggle and wiggle Smiling while they pull their pranks but when they charge, brother brace for the blast they go from he he to oh no, no Hit you like a snowball fired from a volcano they look adorable until they're not Respect the fluff.
- [42:18]
Jeff
Fear the giggle Yuck Yucks Laughing as.
- [42:22]
Sam
They go to war White tribe chaos machines they own the mountains they rule your dream Better as jealous on the chain Born for battle made for legend Claim yours or be forgotten.
- [43:03]
Jeff
Yes.
- [43:04]
Chip
Well, look at that. Mark Smithson can swore he heard this on American bandstead in 1977. It's possible. Doubtful but it's potentially possible. Is that Chip singing you need to go on the Voice? No, it's not me saying that's not. No, no. What about this, Jeff? Per Grock, $522 million have come in so far since the XRP ETFs have launched. It's about a half a billion dollars there. What's that potentially, man? 5, 10, 15, $20 billion. I mean, certainly is potentially possible. That was another banger of a tune there, Jeff. So you guys got seven in here right now, guys. So type in the word yeti if you want to win a badass yeti. Yuck. Yuck. If you want to. If you don't, then. Then don't. I mean, what do you want me to tell you? What do you want? What do you want from me, Jeff? I can't tell you. I can't tell you what to do. Everything. So let's shift over to our geopolitical segment for the night. I wanted to put this up.
- [44:05]
Sam
This.
- [44:07]
Chip
Where the heck is it? Look at this now, Jeff. Some Democrats put this video.
- [44:12]
Jeff
Hold on here I'm talking. I've been muted.
- [44:14]
Chip
I didn't even know you were talking, dude. I thought you were being very quiet, like pensive today.
- [44:17]
Jeff
I muted myself.
- [44:19]
Chip
I was muted, too, but I. So, Jeff, I'm wondering. Watch this video. Tell me your thoughts after it. I don't know if you've seen it, but I want you to watch this, guys. I want to hear your thoughts after you watch this, and then I'm going to give you thoughts of somebody who never, ever holds back. You guys ready for this? This is some Democrats. This is the video that I cannot believe they made. But, yes, they did. They apparently thought it was okay. I'm Senator Alyssa Slotkin.
- [44:44]
Jeff
Senator Mark Kelly. Representative Chris d'.
- [44:47]
Sam
Aluzio.
- [44:47]
Chip
Congresswoman Maggie Goodlander. Representative Chrissy Houlihan.
- [44:50]
Stephen Miller
Congressman Jason Crow.
- [44:52]
Jeff
I was a captain in the United.
- [44:53]
Chip
States Navy, Former CIA officer, former Navy.
- [44:56]
Jeff
Former paratrooper and Army Ranger, former intelligence.
- [44:59]
Chip
Officer, former Air Force.
- [45:00]
Jeff
We want to speak directly to members.
- [45:02]
Stephen Miller
Of the military and the intelligence community.
- [45:04]
Chip
Who take risks each day to keep Americans safe. We know you are under enormous stress and pressure right now. Americans trust their military, but that trust is at risk.
- [45:13]
Stephen Miller
This administration is pitting our uniformed military.
- [45:16]
Chip
And intelligence community professionals against American citizens like us.
- [45:21]
Jeff
You all swore an oath to protect.
- [45:22]
Chip
And defend this Constitution. Right now, the threats to our Constitution.
- [45:26]
Stephen Miller
Aren'T just coming from abroad, but from right here at home.
- [45:29]
Jeff
Our laws are clear.
- [45:30]
Stephen Miller
You can refuse illegal orders.
- [45:33]
Chip
You can refuse illegal orders. You must Refuse. No one has to carry out orders that violate the law or our Constitution.
- [45:42]
Jeff
We know this is hard, and it's a difficult time to be a public servant.
- [45:45]
Chip
But whether you're serving in the CIA.
- [45:47]
Stephen Miller
The army, or Navy, the Air Force.
- [45:49]
Jeff
Your vigilance is critical.
- [45:51]
Chip
And know that we have your back. Because now more than ever, the American people need you. We need you to stand up for.
- [45:58]
Stephen Miller
Our laws, our Constitution, and who we are as Americans.
- [46:01]
Jeff
Don't give up. Don't give up. Don't give up.
- [46:04]
Chip
Don't give up. The ship. What was I. Were they. I mean, I'll tell you my feelings, but I want to hear your thoughts. What the hell was that? That's pretty much what it was right there.
- [46:29]
Jeff
These guys, they, each and every one of them need to be put in prison. They're. They, they are so dangerous to this country. Elected officials that are supporting that are telling, saying that our military and our uniformed men and women are actually, you know, they can, they can go against an unlawful or. Where's the unlawful order? Is it the order that said get rid of all the illegals that are causing harm to our citizenry? Is that the illegal order to say, go back to where you came from? You don't belong in this country. You, you didn't come in here through the legal, the legal route. Come across the border. If you commit crimes in this country, you're gone. You're never coming back. And by the way, if you're involved in that drug trade down in Venezuela, and, and now Trump announced yesterday that the potential bombing, that they're designating them all as terrorist organizations, and soon you're going to see bombing potentially in Mexico, Venezuela and other parts of Latin America. The time has finally come. You know, it's like we finally have a president in the White House with the balls to actually get done. The greatest part about it is that he runs circles around everybody. All the rhinos, all the fake Republican conservatives are all now being outed as well. Thank God. They're finally being outed. You know, like, what's that? Marjorie Taylor Greene and Tucker and all those other. They're all kind of wacky right now. They're completely off the reservation. They're finally being outed for, for who they are. And they're getting their paycheck, whether it's coming from China or Qatar or whoever's manipulating their, their, their talking points, you know, or maybe they're just, just completely off the reservation at this point. They don't have Trump's back. They don't have your back. They don't, they don't have our back. They're, they're lining their pockets. They're getting rich, you know, off of, off of people's misery. They want to continue to poke the bear and that's all they do. Marjorie Taylor Green all of a sudden comes off and apologizes for the way she was behaving to other members of Congress before now because she's trying to make nice. The reason why she's trying to make nice is because she's really one of them. And she's also vying for her multi million dollar CNN contract or Fox News contract, wherever they're going to put her because she's been bought and paid for. So the way they get bought and paid for is, oh, by the way, when you don't run for Congress again because you're so upset with the way things are going, you're not going to run again. But now you get your tens of million dollar contract in one of the news reading organizations, go there and read the news, you know, and it's going to be some centrist, you know, entity, while at the same time we're out in the whack jobs, we're also converting people over like Fetterman. Fetterman. Or Bill Maher. Bill Maher, you watch that guy and you've seen his prize progress. Like Bill Ackman. It was like little by little by little, you know, Bill Maher's taking a lot longer. But if you see some of his stuff lately, the guys, you know, he might as well be a conservative. You know, it's really, it's amazing. Oh yeah, that's right. She's also another one that's just completely, just out there and, and it's crazy to me, you know, the way these people are talking. They're.
- [50:03]
Chip
Jeff, we lost your microphone.
- [50:05]
Jeff
Definitely. Cash Velocity said they're traitors to this country because they're putting us all in danger. They don't even care about the citizens of this country. All they care about is, is trying to figure out how they keep their illegals here and fast track them so they can get voted for. And they think, they really think go in, you know, it's, it's a short term means of, of gaining power and maintaining power. That's all they care about. They give a, about anybody. Look at, they go from minority group to group to group to group and everyone is now exiting. You know, you have the, you had the, the walk away movement. You had the blexit move it. You have the Jags that move it. You have all these exit movements, you know, leaving the Democrat Party because they've woken up and realize how wacky they are. You know, hey, there are. Are completely nuts, you know, on the left, they're going socialist. So that's the problem, is that these Democrats on the left, they needed more people. So they're like, that's, you know, it's the whole thing. Chaos is a path of power. I like that.
- [51:07]
Chip
Did you see that? Did you see that? Hakeem Jeffries is going to have a primary challenger. It's going to be. Mandami is one of his closest allies. He's gonna. He's gonna basically primary. I mean, you know, he's. They're pushing more to the left, so this guy's gonna win. They're starting to get all kinds of excitement. And so Hakeem Jeffries is probably not going to be around next year. So there's a lot of great. Yeah, so Jeff had a lot of great points, and I agree, not all the points, Jeff, but he agrees, not all of them. You had a lot of good ones. A lot of good ones and a couple bad ones. So the whole idea, look, this. This whole thing by Trump is brilliant. When he called it the Host. The point of it is, is that as a campaign promise, the Democrats went in there and basically seeded the files, put all kinds of. Just created a bunch of stuff so when they'd release them, it would be embarrassing.
- [51:57]
Jeff
Right.
- [51:57]
Chip
Well, they caught it now, Pam. Bonnie probably spoke too soon. They really went through it and started looking at. And going, okay, this is a bunch of. Yes, this is manufactured, because this is a Russian collusion. It's all the stuff that they do. He's not calling what happened to the victims. Now, Trump was instrumental. He was the only one that helped and. And volunteered and give depositions to help put basically, you know, Epstein away the first time. Right. To basically take him down. But they keep trying. I'm like, do you think that the Biden administration had this for four years? Not one person was interested in it. Not one person called for the release. You got like, you know, you have Marjorie Taylor Greene, who's now all of a sudden very concerned about this, which is a joke. Yeah. Massey. Yeah. Who? And he's been in Congress for 12 years. The only bill of his that passed was the Epstein bill. He's basically done nothing. Right. He complains. He's a contrarian. It's. I'm amazed at all the people that are following these two. Like, there's somebody they're fringe people. They're never Trumpers, they're rhinos. And you, all the people have, have outed themselves as, as sort of, you know, the rhinos that they are, they're never Trumpers, whatever you used to call them in the first term, that's basically who they are. But Trump plays the game beautifully. He get. He did the same thing with his taxes. He knows, he knows his taxes are clean, but he's like, oh, no, I can't give them to you. No, no, they're under, no, I'm under our investigation. Oh, no. For years they fight. The Democrats fight to get him and they finally get it to the Supreme Court. The Supreme Court says, you need to release me. Puts them out there. Nothing. A big nothing Burger. Not. They go through it. They have that. They're trying to find something. Nothing came of it. Here's what came of it. Now a precedent is set that a president, not only can a president, if a president has to release their taxes and family members, well, that means the vp, that means anybody in the House and their families, that means anybody in the Senate. Now you've got. Now if he just gives them over and they look at him, there's nothing in there. Fair enough. They fought for it. Now we see that Trump brilliantly says, not going to release. I'm not going to release him. Go ahead. And the reason he made him go through Congress, he didn't have to. He could release themselves. The reason they went through Congress is because you got people on the record, Jeff. You got all the Democrats that voted to release them. I don't care about the Republicans. There's, there's probably 10, 15 of Republican names in there, but you have them on record unanimously wanted it released.
- [54:36]
Jeff
Great. Yeah.
- [54:36]
Chip
This is baiting at its best form. Brilliant, brilliant brain. People are like, I believe Trump wants to get. Now he wants, I'm like, dude, you guys begged for him. It's not going so well. We already found out that one member of Congress was, was, was getting advice during a hearing from Epstein. She said it was one of her constituents. That's weird. How many constituents have the mobile phone number of people in Congress during this a hearing?
- [55:02]
Jeff
Right?
- [55:03]
Chip
This is Trump right now. And they said, we've got you this time. There it is. It is. Trump laughing.
- [55:11]
Jeff
Oh, my God, look at that.
- [55:12]
Chip
Because that's pretty, that's pretty much how it goes every single time. Well, Stephen Miller had something to weigh up, had to weigh in on that commercial, Jeff, that the Democrats basically telling them to ignore the orders of the commander in chief and from their command. Right. First of all, that's treason, number one. Okay? The fact that they're putting a video out talking about that is like crazy borderline insurrection. But here's what, here's what officials do.
- [55:37]
Jeff
They, they swore an oath.
- [55:39]
Chip
They swore, they talk about an oath. You swore an oath to the Constitution. But their interpretation of the Constitution. But here's Stephen Miller, who holds nothing back.
- [55:47]
Stephen Miller
It is insurrection, plainly, directly, without question. And when you have one of the lawmakers on that video being unable to state it, as you say, lengthy cross examination, a single so called illegal order, it just proves the point. It's a general call for rebellion from the CIA and the armed services of the United States by Democrats lawmakers saying that you have not only the right, but the duty and the obligation to defy orders of the commander in chief. That those who carry weapons in America's name should defy their chain of command and engage in open acts of insurrection. That the CIA, the clandestine Service, which isn't even legally authorized to operate in the United States, should engage in, again, acts of rebellion and insurrection. These lawmakers should honestly resign in disgrace and never return to public office again for even daring to think, let alone to say these words and to say them proudly. But it shows what a dangerous moment we're in. We have seen the Democratic Party nurse the flames of violence and insurrection against, against the federal government for the last 10 months. When you see this continuous campaign of violence against ICE officers and Border Patrol agents, when you see Democrat sanctuary politicians and Democrat sanctuary governors side with the rioters, side with the assaulters over federal law enforcement, and that spills even into juries and grand juries. When you see Democrat jurors engage in nullification to let off violent attackers who are engaging in physical violence, physical assault against federal officers, this is a dangerous moment. You have a political party, an organization, the Democrat Party, and their message is that any action, no matter how unlawful, no matter how dangerous, no matter how much it threatens constitutional order, is justified if it keeps Democrat policies in effect at any cost.
- [57:56]
Chip
Amazing. Yeah, it's unbelievable. That would even, that would even be. Make it on. I mean, what, what are they thinking, Jeff? How stupid are they?
- [58:05]
Jeff
I mean, and Stephen Miller's right, I mean, they, they should resign in disgrace. They have to be held accountable. They, that what we just, what we just saw in that video though, was taking place during the Trump administration. Right? We saw all of these congressional representatives coming out and calling for violence. They were saying, get in the Republicans face, go out to the streets. That was Nancy Pelosi and the whole host of them. Kamala Harris was freeing people from jail, paying people to get out of jail so there could be kind of re. A revolving door. And they were all part of it. Nothing happened to any of them. And now. And so these. This group. But now there's a different administration that's here at play. Someone's gonna, you know, Stephen Miller called him out. Someone needs to step up and take action against them and say, look, that's it. You know, we're filing. We're filing whatever against you. Because what they just did is definitely treasonous. They're directly calling for the disobeying of orders, but it In a violent way, because what are these people? Are they gonna disobey orders? What are they gonna do? You know, it's kind of like the same thing. Take to the streets. They. They took to the streets, violently burning down. And they. Again, who are they protecting? They're protecting the illegal invasion of this country. I mean, we're seeing Europe getting, you know, attacked on all fronts right now. And they want that here. They want to hear so badly, they can't wait to undermine the safety and security of the American people. I mean, it's just. It amazes me, you know, every single day, because we've witnessed it. We've seen it happen. It's just very, very crazy.
- [59:55]
Chip
Side thing going on. John Doe's asking where Chad lives. Everyone in the chat knows he's from Celebration, Florida. But he's like, are you new here?
- [60:01]
Jeff
Hello. Break. Good times.
- [60:03]
Chip
John does here very often, so it's just probably not paying attention to what's going on, but, you know, nothing's. I have to laugh half the time. This is Sean Duffy, who's the transportation secretary. This one out. I'm about to turn the music down in the very beginning, but this one cracked me up, Jeff. They all cracked me up. I just can't believe these are official accounts, but here we go. This is where we are with air travel today. Come fly, come fly away. You see an airline coming down the Runway. Lifting off is a miracle of American ingenuity. We build airports to launch a golden age of travel across the skies. The dignity of air travel.
- [60:48]
Jeff
Crazy.
- [60:49]
Chip
Made the dream possible. Was a question of civility today. Oh, my God.
- [61:05]
Jeff
Oh, my God.
- [61:08]
Chip
People fighting on planes, each other off, punching people in the face.
- [61:13]
Jeff
Oh, my God. But in the world.
- [61:23]
Chip
But manners don't stop at the gate. That's right. Manners don't stop at the gate. Things aren't what they used to be. Some would call it the golden age of travel. Let's bring civility and manners back. Ask yourself, are you helping a pregnant woman put her bag in the overhead bin? No. Are you dressing with respect? No. Are you keeping control of your children? Are you. Are you wearing pajamas on though plane? Yes. Are you wearing stuff that you wouldn't normally get caught walking out of the house with? If you were younger, your mother would have said, like, what the hell are you doing getting out of the house with that thank you to your flight attendants? No, I always think the pilot. When I get off, I always thank everybody to get off the plane. I always thank them. I always say hi to them, thank them. Thanks for. Appreciate you guys, but it's more like.
- [62:11]
Jeff
Into this plane properly.
- [62:13]
Chip
Are you saying please and thank you in general? No. No. The golden age of travel begins with you jackasses. Yes, with me. Come fly, come fly. Leave your pajamas at home. I listen, I fly a lot with business and stuff. Dude, I just can't get over what I see people walking on planes with. I just can't. Sometimes I'm like, you just rolled out of bed and whatever clothes were on the floor that you rolled on because, like, you know, because you, like, live in a pigsty. You, like, rolled on something. Things that don't match, things that are crazy town. I'm like, you know, their families, their kids are all their hair's messed up. Like, where you used to have some, like, pride, there's no more pride.
- [62:59]
Jeff
There you go, Chip. The golden age of travel. Oh, that's great.
- [63:05]
Chip
Well, that's my. That's my brother, by the way. So my. That's my younger brother. He said there's a picture of me and him, we were wearing leisure suits in 1977 Eastern Airlines Flight Priceless. I have to pull that picture up if I can find it. Bonus Amex travelers checks in our pockets.
- [63:26]
Jeff
How great were travel checks?
- [63:27]
Chip
If you have that picture handy, man, text it to me. I will throw it up there, but, yeah, we'll have to ad never calling. Yeah.
- [63:34]
Jeff
Mark Smith. Formal attire will be required for all OTC live streams effective Saturday, November 22nd.
- [63:41]
Chip
Okay, Smithson. We make the rules around here. Okay? We make them rules around here.
- [63:47]
Jeff
At least we've elevated to white tie and tails.
- [63:50]
Chip
Yeah, I say white tile and tails all the way. Can we get that photo? Come on, Patrick, you have to find that picture. Come on, man. You got. I know it's somewhere. I have it somewhere because I've come across it a bunch of Times, but we definitely have to pull that photo. Holy cow, is that something, man. Blue leisure suits, dude. Wow. Very. Our parents made us wear them, man. They made us wear them, so that's all I can say. If you have it, go ahead and find it. And I. I probably. I might be able to find it. I'd have to. I'd have to look and see where it is, actually. That. Pretty much. Pretty much how it works. Pretty much what?
- [64:28]
Jeff
Underwear?
- [64:30]
Chip
Yeah. Underwear? Yeah.
- [64:32]
Jeff
What is.
- [64:33]
Chip
Yeah, dude. It's like, you know, if. When you're on a plane and you're sitting, like, right. I would have to usually have the aisle. I don't like. I don't like sitting in the window, so I'm always in an aisle, Jeff. Like, you are. And there's always so, like, I don't care who's sitting next to you. It's just too close, man. I just. It's too close. That center seat. The big guy gets in there. I'm a big enough guy. I don't need another big dude, you know? And it's so. I always feel bad because you got to sit in the center seat like this with your arms kind of like, you know, you don't. You can't just. Well, what I've learned, Jeff, is like, you know what I've learned how to do is how to pop the. The thing up. You know, if you reach underneath, there's a button, and I pop that thing up so I can. So I can move my leg. So it's not. I don't have that freaking handle jamming into my leg. So I lift it up, and I always get in trouble. I have to pull it down. When. When the. When the flight attendants are going by, but I usually leave it up. They're like, will you put that down? I'm like, oh, geez, I didn't even notice. Click.
- [65:25]
Jeff
Yeah.
- [65:26]
Chip
You know, especially when, like, the plane lands, I throw it up right away because, you know, it's a. Oh, the one.
- [65:31]
Jeff
The one over on the side as you're exiting, too.
- [65:34]
Chip
Look at this. Now. People clip their toenails.
- [65:37]
Jeff
Yeah.
- [65:38]
Chip
On the bow down tray.
- [65:40]
Jeff
Oh, my God.
- [65:41]
Chip
And then, like, you're eating and it, like, you know, one of those little things flips into your. Ah, man, I gotta. Oh, is this yours? This belong to you? Your toenail.
- [65:49]
Jeff
Oh, it's cute.
- [65:51]
Chip
Yeah. Smithson still rocks. Polyester suits and pocket protectors. No complaints. I don't think anybody would complain. They might snicker a little bit. But Mr. Wolf says back in the 60s, and 70s bands used to trash airplanes on their tours, but they're still more respectful in this generation. Well, they're private planes, and they paid for all the damage. So at some point, it hit him square in the. In the. In the wallet.
- [66:15]
Jeff
So Chad said, jeff gets the middle seat between us.
- [66:19]
Chip
Oh, yeah, well, Chad and I are big dudes, so we don't need. I could just see, that would be. That would be bad. I was like, that would be. That would be really bad getting that. But, I mean, every once in a while, man, you have a bad experience and, Jeff, isn't it the greatest thing in the world when nobody sits in that middle seat? You're like, oh. You kind of look over at the other person and you realize they're gonna. They're gonna put half of their. On it. You're gonna put half your. You're gonna fold the thing down so you both can put your drink over there. It's like this unspoken rule where you just both know it's going to be a very pleasant fight. You kind of, like, look over each other, give them that, like, look. You're both thinking the same. And then all of a sudden, wait, they didn't close the door. And one person's coming down the aisle. You're like, no, no. And then they walk by. You're like, oh, God. You look at each other and you're like, oh, God. We just had the bullet enlarge.
- [67:09]
Jeff
Love those days.
- [67:10]
Chip
The joy of travel. Well, Madison, I'm a little guy. I lock into that Windsor seat. Okay.
- [67:16]
Jeff
I don't like the window seat. She gets stuck over there.
- [67:19]
Chip
I got a picture of Scotty and I over there from Australia. Yep, picture of her somewhere. I gotta find that picture. My brother can't find that picture of us, man. I'm gonna have to put it on a later time. Just cannot believe we cannot find that picture. Saturday, maybe. So I'll look all over it now. It's gonna be pain in the ass looking for that damn thing. Wherever that stupid thing is. Who knows where it is, Jeff? I have no idea.
- [67:44]
Jeff
I can't tell you.
- [67:45]
Chip
It's got to be somewhere. I have so many pictures. Look at this right here. I wanted to put this up here, given the slate. Heard a moment here. Elon Musk put this up there. He's like, I'd like to thank President Trump for all he's done for America. Look at that. Now, at the state dinner with Saudi Arabia, he was sitting right next to Trump. He was hanging out next to him. I mean, this Is all manufactured just to give him some people at the whole thing. And then he. And then he held bait by the whole thing of saying Trump is in the Epstein files. And meanwhile, they're like, oh, laughing their asses off.
- [68:21]
Jeff
Setup.
- [68:22]
Chip
It was so great when he said that. I was like, come on, dude. You guys don't know how this works yet. Nobody's figured this out yet.
- [68:27]
Jeff
I knew it.
- [68:28]
Sam
I knew it.
- [68:28]
Chip
They're really pissed at each other. No, they're not.
- [68:31]
Jeff
It was great.
- [68:32]
Chip
Even. Who even knows of Massie and. And MTG are like setups too. Who knows, man? It's all kinds of diversions going on. I mean, somebody wrote that and they're like, I think this is manufactured, like the Mustang. I'm like, you know, I wouldn't doubt it. All of a sudden, then they're friends again. Everyone's happy.
- [68:48]
Jeff
Right?
- [68:49]
Chip
Just another diversionary tactic. It happens, Jeff. Happens all the time. There he is right there. Look at that back. There it is. We're back, baby. Look at that.
- [68:59]
Sam
Oh, yeah.
- [69:00]
Chip
So, yeah, Melania, by the way, most gorgeous first lady we've ever seen. Got Trump and there's Elon.
- [69:08]
Jeff
There they are.
- [69:09]
Chip
There they are. And. And this was something that. This was one of those tunes that was sung at the. Let me see if I could. Did I fall? Oh, did I not? Here it is right here.
- [69:22]
Jeff
Put it up here.
- [69:23]
Sam
It's Sam.
- [70:00]
Chip
I will say that. I'll just say if you know, you know, if you understand where this song is from. If you know, you know, let's see who knows. Put it in the chat. This is the American tenor.
- [70:47]
Sam
Sam.
- [71:13]
Chip
Also, my dad wanted that song, along with My Way played at his funeral, so that's an extra significance. But if you know, you know what kind of significance that song has. Nobody's put in the chat. That means you don't know. That's okay. I'm okay with that. That's. Somebody would certainly know some of. All Fear is correct. There's more to it than that.
- [71:32]
Jeff
But Dry said I played that with the opera Tampa.
- [71:37]
Chip
Dry side. Very nice.
- [71:39]
Jeff
That's very cool.
- [71:39]
Chip
Simba the Lion King. What the hell?
- [71:44]
Jeff
Gangster.
- [71:45]
Chip
But it. Smithson says it's solid, but it doesn't come near. Touch the Yakuk song.
- [71:49]
Jeff
That's right.
- [71:51]
Chip
Gangster Paradise. There you go. Beautiful. Yes. Well, nobody's gonna be Pavarotti, though. Come on. Because we're. We're there. Can I have a camel's bladder? Can I have the owl nuggets? If you have a camel's bladder, then you have to have. Is that bad? I thought camels could hold their water forever.
- [72:20]
Jeff
That's why he's saying, you can have the.
- [72:22]
Chip
That means I take the. That means I. So I get the window. I had to climb over two people every time.
- [72:28]
Jeff
No, he said. He said, Chip can have the aisle, so.
- [72:33]
Chip
Because I can have the out. Okay, that makes sense. That makes sense. The problem with that, though, is you got that window that comes up because like. Like Scotty was saying, he's a little guy, which is cool, but if you're like a big dude like me, you're. You feel like that. That curve is like impeding your motion, you know? Like, you feel like. You feel like it's just coming in on you, man. I don't like that. I don't like it at all.
- [72:56]
Jeff
To Australia.
- [72:58]
Chip
What's that?
- [72:59]
Jeff
The flight to Australia when we flew.
- [73:02]
Chip
Over pretty 16 hours, Jeff. I don't think I'll ever. I mean, dude, there's not. I don't even. There's not a lot of things I want to be for 16 hours, but on a plane is not one of them. Like, they kept saying, sir, are you okay? We noticed you've been walking. I like, dude, it's 16 hour flight. I gotta get up and walk. I'd walk her. I do some laps around the plane, go all the way to the front, come to the back. Then I'd go hang out in the area. Then I would talk to a couple of flight attendants with those guys for a while. I mean, like, dude, the best part was I fell asleep pretty early on, and I woke up and I'm like, oh. Jeff goes, you want to know how long you've been sleeping? And I was like, please tell me. Six or seven, eight or eight hours. And how long was it, Jeff? You're like, I think 20 hours.
- [73:45]
Jeff
You're like, oh, like four hours. Like, was it like nine hours or something? 10 hours left. Like an hour.
- [73:52]
Chip
You said you've been sleeping for like 30 minutes or something? Like 30 minutes. Ridiculous. See, Chad finds comfort in that window curve. I find zero comfort in it, dude. Zero comfort. Phantom of the Opera. Let's Puccini's opera. Nesting Dorm Taken. Based on fairy tales that came from India in the Middle East. Yeah, well, the words are that good too. At dawn, I will win is the last thing he says. But there's something more to that. Nobody picked up on it. That's okay. I thought somebody would. Godfather 3. No, that's all right. Some of fears is you're. You're on to it, but it's not. That's okay. No conspiracy theorists in the house tonight. That's all right. Probably a good thing.
- [74:35]
Jeff
4 digit XRP gets me a Guadagnini.
- [74:40]
Chip
The hell is that, Jeff?
- [74:42]
Jeff
I'm not sure what a Guadagnini is. Somebody looked that.
- [74:46]
Chip
Oh, my brother found it. Oh, God. Dude. Here we go. Thank you. Oh, geez, man. All right. Oh, my God, dude, I want to show this. This is so bad. Holy cats, this is rough. My goodness. All right, well, thank you for finding that, because I was gonna go try to go look for it. Jeff.
- [75:13]
Jeff
Violin. A Guadagnini is a violin.
- [75:16]
Chip
Well, there you go. Guadagnini. I thought it was a. I will win at dawn. Yeah, that's it. Here it is. So let's. Let's share the screen. Jeff. This is itself torture right over here. But here is. Here's my brother and I right here. There we are.
- [75:35]
Jeff
There you go. That's awesome.
- [75:39]
Chip
There's me. Classic ice clothes. There's my brother hat. Look at the goofy outfits. Now, this is not the picture. I'm warming up to it, Jeff. This will take some work here. Here we are, the golden age of travel. And there we are in his little blue jumper. There is up in New York.
- [76:00]
Jeff
What a great picture.
- [76:01]
Chip
All right, Wait till you see this one, Jeff. This is it. You ready for the leisure suit?
- [76:05]
Jeff
Yeah.
- [76:05]
Chip
On an Eastern Airlines Flight 1977.
- [76:08]
Jeff
Yeah.
- [76:09]
Chip
Here we go. Okay, hang on. Here it is. Boom. There it is in the background there. And there's my brother and I with our goofy ass glasses.
- [76:19]
Jeff
Oh, my God. Look at that.
- [76:21]
Chip
Look at the white. Look at the collar. Oh, yeah, look at the white ass collars right there.
- [76:27]
Jeff
Polyester shirt all the way.
- [76:29]
Chip
Polyester shirt, dude. Big ass.
- [76:34]
Jeff
I had those glasses exactly like that.
- [76:35]
Chip
Back in the day. Well, everyone did back then, but at least, you know, he's wearing a dark suit. I looked like a nut job in this blue, like, powder blue suit. There's my mom hanging on the back. Of course, dad got up to take the picture, you know, but look how horrible those. They used to have these things on the back of it.
- [76:52]
Jeff
Yep.
- [76:52]
Chip
It was so weird. Remember cloth seats and stuff? Oh, yeah, it's really bad. But anyway, there you go. That was the. That was the pinnacle of travel right there, Jeff. That's it.
- [77:02]
Jeff
Oh, it's the greatest.
- [77:04]
Chip
Bill Gates wants his style back. Well, you can have it, too. Trust me. Those colors provided. Lift for takeoff, 100. Can't lose you two in a crowd with those lapels. Damn. Two Cowboys? No. Indians? No, man. There's no. There's no possible way that was it. That was at the golden age of travel. That's it right there.
- [77:26]
Jeff
It's over. Over and done.
- [77:29]
Chip
Look at that. My God. Is that something horrible? Man, that was a goofy looking kid. Goofy looking, goofy kid, man. Thanks for finding that.
- [77:40]
Jeff
That was fun.
- [77:42]
Chip
That was fun. That was good. Let's. Man, it's 117. We got to get out of here, Jeff. We gotta go ahead and we got time to do the Yeti. We got 10 of them in here. Type in Yeti if you want to win a badass yeti. If you do want to win a badass yeti. Type.
- [78:00]
Jeff
Yeti. Here we go.
- [78:02]
Chip
Let's do it. Ready?
- [78:03]
Stephen Miller
This.
- [78:05]
Jeff
I don't have it as square, so we're gonna have to just put in the middle. This is badassery.
- [78:13]
Sam
Badass yetis. White tribe. And front and center, the the big body chaos loving, comedy driven wrecking crew.
- [78:25]
Jeff
The yuck yucks.
- [78:27]
Sam
Let's cause some trouble. Big bodies, huge chaos Stomping through the snow laughing while they wreck you. They look soft, fluffy and harmless but no, they're jokers, they're pranksters they're icy little beasts Cross across a yoke y' all can get your head round up your bleep. They're jacked up on badassery Coffee bouncing on mountains, crashing through trees Chaos and fur coats doing what they please they tumble, they rumble, they clown with flare Slipping on the ice and still dunking on the bear. They jiggle, giggle then wiggle smiling while they pull their pranks. But when they charge, brother brace for them blast. They go from he he to oh, no, no. Hit you like a snowball fired from a volcano. They look adorable until they're not.
- [79:21]
Jeff
Respect the fluff, fear the giggle Yuck.
- [79:26]
Sam
Yucks laughing as they go to war. White tribe, chaos machines. They own the mountain. They rule your dream. Badass jealous on the chain Born for battle, made for legend Claim yours or be forgotten. Badass for the chain is on the chain.
- [80:10]
Jeff
On the chain.
- [80:11]
Chip
That's what it was. It was on the chain. All right, let's do this. Let's give this puppy away. Guys, typed in Yeti. We got 14 in here. Cue the music. Jeff and I will go ahead and draw and we'll see who's the big winner. Let's go. May the best person win. Let's go. Yeah. Bad ass yetis. Yeah. Badass yet Cash velocity. Are you in the house? Are you in the house?
- [80:52]
Jeff
Cash money.
- [80:54]
Chip
Yeah. Are you in the house, Badass Yetis. Let's go, Cash Velocity. Are you in the. Are you in there or not, dude? What's up, YouTube? Huzzah, raid. Congrats. Pay it forward. All right, let's do that. Let's go ahead and re spin, guys, to hang in there. Appreciate that, Cash. Appreciate that. Let's go. Ready? And. Wait a minute. I turned the song off. I thought we were done here. Okay, let's do it. Ready? Let's pull it again. See who's gonna win. Bam, bam, bam, bam, bam, bam, bam. Who's it gonna be? Who's it gonna be?
- [81:38]
Jeff
Winner, Cash Velocity.
- [81:42]
Chip
Hard on the lake. Big winner.
- [81:46]
Jeff
He said it's rigged.
- [81:49]
Chip
Well, if he thinks it's rigged, we'll have to give it to someone else.
- [81:55]
Jeff
Pay it forward. See, the congrats helped you.
- [82:00]
Chip
Yeah, it was a good will. He's here. We know you're here, dude. We just. But thank you for chiming in. We need that wallet address. We will send that over to you pronto. Super pronto. Send it over pronto. Rigged. Yigged.
- [82:20]
Jeff
It was rigged. We rigged it again.
- [82:23]
Chip
Totally rigged. Totally.
- [82:25]
Jeff
There it is.
- [82:26]
Chip
Totally rigged.
- [82:27]
Sam
It's boom.
- [82:28]
Jeff
Just like bam. Like, here you go.
- [82:32]
Chip
All right, man. It's kind of like you thought he was gonna win. Maybe it is, rig, Jeff. Maybe it is. You might rabbit. You might. By the way, I saw that clip the other day. It's fantastic.
- [82:42]
Jeff
Yeah, Funny when he says rigged.
- [82:44]
Chip
Yeah, you might rabbit. You might. Would I throw a match in there if my friends were in the oven? You might rabbit. You might. It's the greatest clip ever, man. Yeah, Mike, rabbits coming out with your hands up. Too late, Rod. All right, well, we got Arch on the lake is the big winner here. He's the big winner. Winner.
- [83:08]
Jeff
That bridge from the start.
- [83:11]
Chip
He's the big winner. Winner, chicken dinner.
- [83:13]
Jeff
He had this all planned out with Cash Velocity.
- [83:19]
Chip
Yeah, they. They worked it, man. They worked.
- [83:22]
Jeff
They worked the room.
- [83:24]
Chip
They did something like that. Yeah.
- [83:26]
Jeff
That's it. That's it. Art on the Lake is now the official winner of badass Yeti. Number 1383. Yuck. Yuck. And yuck. Yuck, Yuck. Beautiful from the badass Yeti's white tribe, huh?
- [83:41]
Chip
Yuck.
- [83:41]
Jeff
Yucky.
- [83:43]
Chip
Well, this is interesting, Jeff. We always play something funny on the way out. This is the one thing that I have here, and it's dogs. Somebody has to be the sacrificial one. Look at this right here. Check this out.
- [83:57]
Jeff
Come here, guys.
- [83:59]
Chip
Now, I'm just gonna describe what's Going on. You got three dogs, a little chihuahua, and like a little pink outfit. You got a big bulldog and the cat kind of walk though the hallway. And there's one of those optical illusion things on the floor where it looks like an endless hole in the ground. But I like how they just kind of like walk down there together. That's why it makes me almost feel like this is AI. It seems too perfect.
- [84:21]
Jeff
Yeah. Come here, guys. Oh, my God.
- [84:27]
Chip
I'm not sure. And he throws a little. Bulldog, takes the little chihuahua, picks him up and throws him on the hole. He stuck the landing, though. Jeff. That's pretty impressive landing.
- [84:46]
Jeff
Yeah. Tossed him into the hole. If that's not AI, think about what has the dog thinking through this whole thing. It does seem like it's too close to being AI.
- [85:00]
Chip
Yeah, that's fine.
- [85:02]
Jeff
Now you can't even. The cat doesn't even care.
- [85:04]
Chip
Cat gives zero cats top marks, gents. Had to try, of course. Oh, my show. Appreciate that. What is a yeti? A yeti that show what the yeti looks like. He's wondering what the yeti is. Yeti is an NFT series. Yeti up.
- [85:19]
Jeff
Hang on.
- [85:19]
Chip
Yeti is an NFT series. They're called the badass yetis. This is the Yuck. Yuck. There's a. Of the white tribe. There are multiple clans and try. We have a blue tribe too. They're available over on XRP Cafe. If you type in badass yetis, you can see what they look like. But these are, you know, that's what they look like.
- [85:38]
Jeff
Let me go to the whole white tribe. Here we go.
- [85:43]
Chip
Okay. Caboodle there, there. They are different. They have different powers. They do different things. That's what a yeti is.
- [85:49]
Jeff
Each one of these. These guys are clan. These are the guardians. They guard the elders. There's only seven elders in the white tribe. Here's one of the elders right here. And you see how badass the elders are. Bad that the elders just kick ass. The lore, they kind of dictate and determine, you know, what goes on in the. In the clan.
- [86:15]
Chip
So there you go. Yeah. So that's what it is. That's what they are. That's the.
- [86:18]
Jeff
Tell me how you feel about that. Feel about What? About what?
- [86:24]
Chip
NFT. Correct. They're NFTs. Yeah, NFTs. If you're on the XRPL, you can go ahead and go to XRP Cafe and there's a blue tribe type in badass Yetis. They're the badass yeti and then play the commercial too. We also have a. It's of the Badassery brand. We have a coffee brand as well called Badassery. If you want to pull that commercial up. But you can kind of see brought to you by.
- [86:47]
Jeff
Here we go. This Badassery.
- [86:49]
Chip
Badassery. Let's go.
- [86:50]
Jeff
Badass recall.
- [86:51]
Chip
Five bucks.
- [86:52]
Jeff
Five bucks for a lot of that feed. Avocado toast. Avocado toast.
- [86:56]
Chip
Quit financing. Financing.
- [86:59]
Jeff
It's down.
- [87:01]
Chip
Grandpa had 110 cup and brewed his coffee over an open fire.
- [87:05]
Jeff
We roast to order, ship free and.
- [87:08]
Chip
Keep every bean bold enough to wake the dead. Or at least your 9am meeting. We make coffee that punches Mondays in the face. Badassery. Coffee fresh, fierce, great. Roasted fresh, Ship free. Chaos pending. Order now@badassery coffee.com badassery coffee.com There you have it. Batterserycoffee.com There you have it people. Good night guys. We'll see you soon.
- [87:41]
Jeff
Wait on the way out. They wanted to know what the Badass Yetis are all about. Since we're at the end and we're wrapping this. Just gonna roll this. This tells you all about the Badass Yetis. If anyone's on here and they didn't know, we're gonna roll that and then roll that.
- [87:53]
Chip
Then you'll. Then you'll hit the end stream after that. Right Jeff? Yeah.
- [87:57]
Narrator
Discover the awe inspiring universe of the Badass Yetis. Comprising seven diverse clans. Each possessing unparalleled abilities and strengths. The mighty Titans are a formidable and courageous clan. Known for their immense strength and valor. These colossal warriors are celebrated for their fearlessness and determination. The Pathfinders. Cute cuddly but deadly. Expert hunters and trackers. They navigate mountains with ease. They'll find you if you hide. Trust me, it's best if they don't see you. The Templars are spiritual and wise. Deeply understanding the spiritual forces of that shape their world. They believe themselves to be the defenders of just and righteousness. The superior craftsmanship of the Frostbeards enables them to produce intricate tools and weapons using the limited resources available in their surroundings. The Shiverspine clan is the most terrifying of the seven clans. Known for their exceptional agility and stealth and ability to move silently and quickly through the snow and ice. With their telekinetic and interactive intellectual prowess, Mentalists excel as powerful foes and sought after allies. Due to their ability to mentally manipulate the world around them. The spirit walkers attune themselves to the earth, animals and the unseen spirit world. Their exceptional communication skills enable them to connect with the spirits of the land and draw upon their force.
- [89:23]
Jeff
Are you down with otc?
- [89:26]
Chip
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