Ravencoin's massive volume on Binance, new Tron partnerships, Tether, and more!
In this new episode of the Roundtable Podcast, we talk about one of the biggest stories from this week: Ravencoin (RVN) and its surprising pump. We also start a new Good TRON vs. Bad TRON segment and interview ThreeBX, a community driven digital asset marketplace.
Watch on YouTube, listen on SoundCloud, or read the transcript below.
Evan: The ICO Alert Roundtable Podcast is a casual discussion between members of the ICO Alert team. At no point is anything said in this podcast to be construed as legal, tax, financial or investment advice. For sake of transparency, members of this week’s Roundtable Podcast own the following cryptocurrencies: Bitcoin, Ethereum, Tron, EOS, Stellar, Basic Attention Token, and Thresh HODL.
Q: Back bitches.
Evan: Click clack he's back.
Q: Money, money, money, money, money.
Evan: The money man back in the building. Holy shhhhh, we’re not gonna swear anymore.
Q: No. Thank God.
Q: I don't have to field calls from my mother.
Evan: Ah man. It was cause of your mother?
Evan: It was cause of some other YouTuber, was gettin mad.
Q: Oh yeah that guy, that serf.
Evan: That serf.
Q: It’s fine. Whatever.
Evan: Actually I'm not gonna swear because of him, I'm just think that, you don't have to swear to be cool anymore.
Q: That's true Ev.
Evan: Its 2018.
Q: I give you a golden star for that.
Evan: But I actually don't care I am gonna swear when I feel it’s necessary still. You don't have to listen if you don't want to. Uh we are considering however, for the Roundtable moving forward, maybe what we'll do a censored on YouTube and an uncensored version on SoundCloud or visa versa. So why don't you folks out there give us some feedback. Tell us if you like that idea, if you hate that idea, whatever you feel.
Q: I'm commenting that I hate that idea.
Evan: What do you wanna do just, raw and uncut?
Q: Just raw that's why, the people love us.
Evan: That is why the people love us, cause we’re real, we’re raw.
Evan: We care about the fly over states.
Evan: (laughs) you know-
Q: Meanwhile there's probably people overseas that are like what the hell's goin on?
Evan: Yeah (laughs) what are the fly over states? Remember when you were a kid and there would be, you'd ask your mom to buy you a CD but there would be and explicit content sticker on it.
Evan: That explicit content sticker with like the-
Q: That should be on here-
Evan: White letters and the black letters, or the black background-
Evan: That's something that only, like a 80's or 90's kid will ever know.
Q: They don't do that anymore?
Evan: I don't think because you kids just, listen on Spotify now.
Q: Ahhh. Those kids.
Evan: I don't buy CDs. Do you buy CDs?
Q: No. Member the mature rating on video games?
Q: And you could like, couldn't-
Evan: Oh do they have that still? I think they do-
Q: I think they do. They have that. But-
Evan: It’s like the ESRB, entertainment something rating, ratings bureau.
Evan: God. Anything that ends in bureau I'm just like, f***in shoot me in the face.
Q: Literally five minutes in you can not stop cussing.
Q: Were trying to make this kid friendly apparently.
Evan: No were not. Kids don't watch this show.
Evan: If they do man they're some baller kids, cause they're in the game early.
Q: Love you guys.
Evan: Alright so anyway. Roundtable back, Q's back. Where you been buddy, what happened?
Q: I was, I got sick. That's, as clean as I can say it. And it wasn't because of HoshoCon. I know all of you in the office thought I was, like somehow still hungover from HoshoCon five days later. It was not that. I woke up, I was like shakin’ in the bed. I never get sick. I don't know what happened but I was, out.
Evan: It was like a one day, thing right?
Q: It was like a-
Evan: Maybe like a two day-
Q: It was like a one and a half day thing.
Evan: You mighta had food poisoning.
Evan: Did you eat any TGI Friday's?
Q: I don't do chains.
Evan: Oh. Neither do I. Because I ate at TGI Friday's and got food poisoning, two times in a row.
Evan: I gave em a chance after the first time-
Evan: And they got me again.
Q: Anyways I'm, you know, I'm glad to be back. I missed all of my roundtablers and my one knight.
Evan: Well Ryan did a great job filling in for you. We even had people comment that they like, him better than you now.
Q: Yeah a lot of people say that so I'm not phased.
Evan: (Laughs) So, anyway, let’s dive into, some of the topics. Unless we’re gonna cover some of the comments from last week-
Q: Your choice buddy.
Evan: I know. Well why don't we, dive into some of the news. So-
Evan: One of the biggest stories from this week has been, a coin called Ravencoin, ticker RVN. If you're in crypto you've been keeping up with the news at all, you've seen a massive pump and actually-
Evan: Pete Keay, who we talk about on the show quite a lot, Bitgenstein’s Table, he actually, held some Ravencoin and he said, the amount of Ravencoin he held did like a 6X yesterday and he sold it.
Q: Mmm. Lucky duck.
Q: I remember those days.
Evan: (laughs) So good for Pete, at least someone out here is, you know, makin their change, cause were freakin scraping the bottom of the barrel over here.
Evan: But anyway you know Ravencoin, I had to look more into it, wanted to tell you folks about it-
Evan: Just the volume on Binance alone, I looked into it yesterday. It was, the volume from Ravencoin alone, was $23 million yesterday over the other ones. The next closest one was like $3 million, or $2 million, volume. On Binance.
Q: That's a lot on Binance.
Evan: Yeah so, Ravencoin was dominating Binance yesterday. I think I looked this morning, it was still dominating today. Just some major, FOMO or money or something getting into that coin. And the first time I ever heard about it was when this pump started.
Q: See that's the CZ effect right there. Cause I guarantee you it was doing no volume at the start of October. And now it's dominating Binance, yeah that's the CZ effect. Cause he initially talked about it, we looked this up, he initially talked about it, like early October and it saw a little bit.
Evan: Yeah, you said, before we started the show that there were three catalysts that sort of set off Ravencoin. What were the three catalysts that set it off?
Q: Yeah so it was, the initial CZ tweet that said, something to the effect of like he liked what, you know, Ravencoin was doing. That was an initial pump. The second one was the actual listing on Binance. And then the third pump was, and I'll let you talk about it, was the release, the announcement of their main net.
Evan: Right. Yeah and that was, that kinda came in, that kind of integrated in with the, Binance listing I think. What well, so the Binance listing was actually October 12th.
Evan: But they did recently just announce they're gonna do a main net launch. For anyone out there that's wondering, "What the hell is Ravencoin, why do they keep talking about this project?" Ravencoin is, it's basically a way for people to peer to peer share, tokenized assets. So one of the examples they gave that was one of the easier ways for me to understand it, was in their white paper. They talked about if somebody wanted to start a lemonade stand, and they wanted to raise money, they could sell a hundred shares of that lemonade stand. And then they would be able to basically fund the lemonade stand, make money and then pay out, dividends according to who actually bought, you know, Evan’s Lemonade Stand. What would that be? ELS.
Evan: Whoever bought my ELS tokens-
Q: Shit coin.
Evan: If I had the lemonade stand. But now so this actually gets into like interesting, sort of areas because it sounds, exactly like a security to me.
Q: It is. It would be a security.
Evan: But it’s almost like, if its peer to peer, I mean it’s kinda like a way to do like a family and friends round.
Q: It's a, yeah it was like a micro STO. That's what-
Evan: A micro STO is what we call it.
Q: Yeah. We are literally patenting that right now. We just-
Evan: Yeah so don't take that, term.
Q: Don't take that, but essentially yeah.
Evan: Micro STO.IO.
Q: You could, yeah. Its, for, anybody, you and me could tokenize any type of assent. If I wanted to tokenize that GameCube over there, and GameCube, the price of a single GameCube shot up, and people had, you know, a percentage of that GameCube-
Q: Paid out in dividends. Micro STO right there.
Evan: So yeah its, and it actually has some interesting backing too. Patrick Byrne, who's the CEO of Overstock.com. If you know anything about him, Overstock.com started accepting crypto years back.
Evan: And it really helped them out, by accepting payments in crypto. Actually, the famous @BlockchainZack Gall from Everything EOS, you might've heard of him if you're watching our channel, probably not though.
Q: Screw that guy.
Evan: He (laughs) actually bought patio furniture, I think earlier this year, on Overstock with, crypto.
Q: With EOS. That was the main like catalyst of that is that they were accepting now. Cause a lot of places accept Bitcoin.
Evan: Uh huh.
Q: They accept like multiple, I'm talking like, I think probably like around 20.
Q: Yeah so they were accepting EOS. I almost did this, but, I didn't have a patio so-
Q: Couldn't do it. But-
Evan: Too bad you didn't buy your dog back then. You could have bought like some dog-
Evan: I'm sure Overstock has dog cages, or bowls, or something.
Q: Most of it is just, like furniture and just home-
Q: Home stuff-
Q: Which is why, I didn't sell my EOS at the time. It was actually right before a dump too.
Q: Yeah it was perfect.
Evan: Yes. So it was, yeah I remember Gall talkin about it. He said it was a good, sell for him-
Q: Mm-hmm (affirmative)-
Evan: It was like he sold and then bought patio furniture-
Evan: All in one step and it was actually good for him cause it dumped. So for all you Everything EOS fans out there, if you can't believe it, Zack Gall, @BlockchainZack, he actually sold EOS at one point in his life so if he says he's a lifetime HODLer, he's lying about that.
Q: (laughs) You, wanna hear the volume on Ravencoin, October 6th?
Q: Like the actual USD volume? $214,357.
Evan: That's across all exchanges?
Q: It’s a coin market count. They aggregate everything. And now on October 23rd, it is now $167 million.
Evan: Yeah that's intense-
Q: 24 hour buying-
Evan: That's across all, okay that's across all excha, what other exchanges are they on? I'm just curious.
Q: Uh yeah I can check that out. So obviously Binance. The next biggest one is-
Evan: Binance is the big one.
Q: Yeah. Bittrex, Upbit, Cryptopia. Who we've talked with those guys.
Evan: It’s just so, weird to me that, like they're on, Upbit. They're on Cryptopia. Bit, what is it, Bittrex. Like those aren't small exchanges but the Binance pump-
Evan: The amount of volume they're seeing on Binance is crazy.
Q: Speculation baby.
Evan: It’s just just FOMO I think maybe.
Evan: I mean it’s not just FOMO. I think that, you know, obviously, Patrick Byrne's a smart guy. Him getting into it and giving it a shot of confidence, you know, says something about it. I think that there's a good utility for it. Another interesting thing that was in their whitepaper that I thought, was a little bit peculiar, was the thing about regulation.
Q: Yeah they're not gonna be able to do this, I don't think, in the United States.
Evan: Right. Because-
Q: Way too much regulation.
Evan: It does actually sound like a security, even if it’s at that micro level.
Evan: I mean I don't know how like friends and family funding works. Obviously the SEC's not gonna get involved if your 12 year old niece wants to run a lemonade stand and we all pitch in.
Q: Who knows.
Evan: Yeah who knows.
Q: You think (laughs)
Evan: Those guys are bastards.
Q: But yeah, I don't think, they'll be able to run this specific, you know, project in the United States. It just seems like it might, like an STO. So-
Evan: Yeah. Well it'll be interesting to see how it plays out.
Q: Definitely. Definitely. What's the next, piece of news we got here? Oh god.
Evan: Its my favorite time of the week. Were starting a new segment here Q. And we started it a little bit without cha last week. This new segment, is called, Good Tron, Bad Tron.
Q: So all Bad Tron.
Evan: Don't say that. We have viewers who are passionate about Tron.
Q: Sorry. Sorry Tronnies. Sorry Tronnies-
Evan: (laughs) Tronnies. So, we’re gonna start a new segment here. It’s gonna be called Good Tron, Bad Tron. Maybe every week but if there's not enough news every week, we'll just do it whenever its, appropriate. And we’re gonna go over a couple new Tron, pieces of news here. They have been in the news a lot lately with, partnerships or "partnerships."
Q: Yeah hard, quotations.
Evan: Yeah so, we’re gonna look into this and, I'm gonna, you know, we'll sit here and dictate whether these are good moves by Tron or bad moves by Tron because, as I said on the last episode with Ryan here, I'm on the fence with Tron. I think that there's a, they're obviously a real contender in this space. They've got a massive market cap. They've got a ton of, they've got a big war chest to actually get shit done with. But sometimes they get a little bit too, like let’s announce an announcement, lets over hype this and-
Evan: I wish they would just get to the point with stuff. So, the first thing we have here is that Tron has just released a role playing game. This is Justin Sun who actually tweeted this out himself. Now, the role playing game as we’re showing you on the screen here, it’s in Chinese completely.
Evan: So we don't really know-
Q: I'm havin a good time here, clickin pages.
Evan: (laughs) we don't really know, the only thing we've figured out here is that, you have spirit. You have gold. Its seems like when you click the bottom page it does something different than the top page.
Q: Do you ever, read one of those Goosebumps, like choose your own adventure?
Q: That's what this is.
Evan: That's exactly what I was gonna say.
Q: Yeah this is, that's what this is and it looks like a role playing game where you can get more spirit. Like you start with a hundred spirit and then as you turn the page you either get less or more. I'm sure there's a story going on here in these Chinese characters.
Evan: The music is really good.
Q: Oh yeah.
Evan: Don't play it.
Q: No. No. Okay. I'm sorry.
Q: Alright. Anyways-
Evan: I actually do like the music in it though. But here’s the thing, and you were a big player of CryptoKitties, so this is obviously just a rudimentary version of a blockchain game. This isn't something that's gonna like, be in the World Series of Gaming next year. But, what is your comparison to this because it’s obviously something that needs to interact with the blockchain? Like how, much smoother is this that CryptoKitties or is it less smooth? Like what when this game seems like its interacting with a blockchain, and of course we'll know more when the English version comes out-
Q: Mm-hmm (affirmative)-
Evan: But what are your, thoughts on this as like an early version of, a game based on Tron?
Q: I mean, my initial reaction is is this game on the blockchain and, like I don't know the actual details but I'm lit, sitting here playing with the game, and I haven't had to do what I normally do on Ethereum games which is, have a metamask open. Be clicking through the transactions, right. So my initial, at what point am I gonna interact. At what point is TRX involved-
Q: That's my initial reaction. But that could be a good thing right though. What we had said earlier, and that this is like a mantra in the office, is if blockchain is gonna be adopted, it has to feel like its not being used.
Evan: Yeah exactly.
Q: So yeah that's my initial feeling. In CryptoKitties, every transaction you're doing, certainly that's different. You're not like playing a game.
Evan: Right. Well in CryptoKitties is more of like an asset, trading assets-
Evan: This seems like, kinda like a, very early version of kinda like an RPG type thing.
Q: Mm-hmm (affirmative)-
Evan: I think it’s maybe just used to, show, and again its in Chinese, so we don't know a ton about it. But, Justin Sun said the English version was gonna come out soon. And I'm gonna get my wife to play this and actually tell me what the hell’s goin on so maybe on the next episode of Good Tron, Bad Tron we'll figure it out for you. So would you say this is good Tron or Bad Tron?
Q: I would say right now that there's such a low level that this is good Tron.
Evan: Wow! Good Tron! Score one for you. Holy shit. So Good Trons winning over Bad Tron one nothing. And uh, this is gonna take us to our next piece of news about Tron, which is a potential, meeting. And now this is actually, now when Tron usually comes out with news, they say that it’s, Justin Sun speculates on, "Oh we’re gonna partner with, like a big, multi billion dollar corporation" but then he never actually tells you who it is or it turns out it’s like a vendor agreement or something.
Evan: So in our latest news, there's actually a tweet that came out from CZ, from Binance, the man, the myth, the legend himself. And he actually said that he's gonna meet with Justin Sun tomorrowish. So I'm guessing, I don't know, sometime either today or in the next couple days. And this is CZ saying it himself, who, he's usually pretty straightforward guy, he's not just gonna make stuff up.
Q: Yeah. Yeah I know. I mean if CZ's sayin it than, yeah. I mean-
Evan: But here's, here's-
Q: No argument-
Evan: My question now. Now let’s do a little speculation. Trons already on, Binance. Right?
Evan: So this isn't a listing thing. So what do you think this meeting could potentially be about?
Q: So they have a Binance labs, which is like an incubation. So it could possibly be a, cooperation between Binance and Tron on any projects that are building on Tron. So if I have a project building on Tron, obviously, if I know Justin Sun, they can get that over to Binance labs and Binance can incubate us. If Tron doesn't already have their own incubation-
Q: Like, a program. But I know, Binance is looking to really, you know, up the Binance labs section of that, website. So maybe that's it.
Evan: So my speculation here is much more intense.
Q: Oh god. Conspiracy theory level.
Evan: No, this is not a conspiracy theory but this would be really good for Tron if it does come true. I think that, Tron is going to eventually try to become, a, pair on Binance.
Evan: And I could see that if you see Justin Sun and CZ meeting a lot, if Tron, I could see Tron actually becoming a pair, on Binance.
Q: That's not a bad guess.
Evan: Because they have that, they've got that Chinese connection.
Q: Mm-hmm (affirmative)-
Evan: Tron is, I mean I don't know what their volume is, we could maybe look it up real quick. They're very liquid. They're already trading. They've got a huge community out there. So I'm interested to see, maybe Binance is looking into, creating more pairs. And I'm not saying it might, it would be just Tron at once, like the only one to do it.
Evan: But maybe they're gonna introduce, you know, five more pairs at once and Tron could be one of them.
Q: Yeah I don't, I mean, that sounds like a way more actionable thing than what I said.
Q: So um-
Evan: That's just a crazy amount of speculation. This is not investment advice. I'm probably way off base but hey, I mean I think that would be a really good thing for Tron.
Evan: I think either way CZ meeting, actually tweeting that he's gonna meet with Justin Sun, not just Justin Sun mentioning that he met like a famous person, for the way he usually tweets.
Evan: They way Justin Sun usually tweets is bad Tron. But this is actually another example of... Good Tron.
Q: Good Tron.
Evan: So Tron is good this week. Man, we like it.
Q: Love it. Love it. Love it.
Q: My only, I think, the only concern there is, wouldn't, Litecoin or, EOS be a pair to be added first?
Evan: Well that's what I mentioned. I'm not saying, I'm not gonna say Tron would be the only one.
Q: Oh Okay. I got it-
Evan: But maybe there's a group that, Binance is looking to add as pairs-
Evan: and Tron could be included in that group-
Evan: I do think Litecoin, Ripple, well maybe not Ripple, oh god now the Ripple community's gonna hate us again.
Evan: I do thin-
Evan: Yeah I do think Litecoin obviously. EOS even maybe. I don't know, pairs are hard cause you have to have a volume. You have to prove that you have volume trading, for an exchange to go out of their way and list you as a pair.
Evan: So. And it’s interesting, we actually have an interview coming up with, a marketplace called ThreeBX and they don't have any pairs. It’s all just open trading, asset to asset. Which is, interesting-
Q: Mm-hmm (affirmative)-
Evan: And it actually, as a use case is a lot easier for your end user.
Q: Yeah definitely. I loved when, we did our research and then when we were talking to them I love the fact that everybody opening an exchange right now.
Q: Exchanges are the new ICOs. I've been saying that for the last two months. Our first question was, well how do you differentiate yourself? Well, we're not an exchange. They're choosing to go a totally different route as opposed to, oh let's just make another exchange and how am I going to compete ... okay. You're not going to compete with Binance, obviously, but what about the other hundred exchanges?
Q: So I like the fact that ThreeBx is making a marketplace of sorts where you can trade one crypto for another, it's more community based. Only issue like holding funds in escrow, that's tough for me in that sense, but it's the same thing as far as-
Evan: Well it's the same thing as Binance when they have your keys.
Q: Yeah, agreed. Agreed. But it has a Dex feel but at the same time, yeah. No I like the project and I like the direction it's going with the marketplace feel. So, yeah, I love the interview-
Evan: Yeah, I was actually pleasantly surprised with ThreeBx too. A lot of stuff they're doing is really cool. They've got a little OTC section on their marketplace where if you know someone that's looking for a specific thing you can basically trade it off market ...
Q: Yeah, without affecting the price.
Evan: Yeah, without affecting price or anything like that. So that's pretty cool. But anyway, you'll have to stay tuned. We're gonna catch up with Chris a bit later in this episode. Let's move on to the next item on our agenda which is another stablecoin. A lot of similarities between this week and last week's episode.
Q: Yes. Except that you don't, you were missing possibly the best cohost of all time. (laughs)
Evan: Let's hear about it.
Q: USDC I think was launched just today, so if you're listening to it on Wednesday, yesterday, or Coinbase was able to make an announcement saying that they will be providing a stablecoin as well which, if you're paying attention to the market at all ... something that's literally happening everyday.
Evan: Yeah, a lot of stablecoins coming around.
Q: Yeah I think the general feeling in the office is that there's a bit of a bubble. Not saying that stablecoins are ... I think they're a great idea. But, the amount of stablecoins that are coming out and are all of them going to be here next year? That's a whole nother equation.
Evan: Well, yeah, I don't know if there's a bubble per se, but I think that there's ... I think that there's an opportunity that a lot of people are sensing right now with the whole Tether fiasco. I think last week we talked about a couple ... someone even commented on our YouTube video which we, I can give them a big shout out as soon as I find them ... but they actually said that, they said Dai stablecoin and they said that was the best one. So I haven't had a chance to look into that but-
Q: Which one is that?
Evan: Always wanna give shout outs to our commenters. I'm not even sure what it is. I'll have to look into it but this one here it's another one that might be taking advantage of the opportunity of this Tether issue and people not trusting Tether. But, I was actually talking to Dimytri who's a bit of a finance expert. He thinks that it's gonna be a slow parsing out of people moving from Tether to these other stablecoins and that eventually maybe each exchange will have their own stablecoin because at the end of the day as we said last week, these stablecoins are really only there for you to kind of get around the volatility of the market. So it's a good tool for every exchange to have. So if every exchange has their own stablecoin then eventually you might not have that Tether pair on every market that you see now.
Q: Yeah I think Tether has that first mover advantage, but like a lot of new projects ... like if you look at CoinMarketCap two three years ago, there's a lot of projects that had that first mover advantage that aren't there anymore.
Q: So you could not see Tether there a year from now. Yeah, I think there are a lot of use cases that we're not considering for stablecoins. But, the main use case obviously ... being able to house your crypto without turning it into fiat is great.
Q: Yeah I think just being able to house ... I think honestly stablecoins are gonna become, and I heard this somewhere, so it's not an original thought like all of my ideas ... but I heard that stablecoins would be the next banks and that kind of ... what do you think about that? Because that's where people are gonna store their crypto.
Evan: Yeah, it's interesting. I mean, you can say stablecoins will be the next banks and I think people that want that ... this is pure conjecture, so this is just my opinion and trust me, I'm not smarter than anyone watching but I think people saying that, maybe their consideration is that having an actual PegToken that's provably pegged would be less subject to any kind of manipulation.
So, like in a bank when I go give them $100, it's pretty much like ... and it's gone. The bank just takes it and they whatever the hell they want with it. It goes into bonds and derivatives and all this crazy shit and they're making a ton of money with my money. And if I wanna withdraw, they're really just moving numbers on a screen. They don't have everyone's money, and so if you actually have a token that's pegged, that could actually in turn, be like ... okay, I know if I have $50,000 in CUSD or USDC or whatever it is. ... whatever stablecoin you think, then I know it's actually there because this has been backed, this has been audited, it's been tokenized, every dollar in there's been accounted for.
But on the other hand, I think it might be kind of wishful thinking because if you look at the way that Tether was created, it's such a shady shit show. And right now, Tether is still the primary stablecoin.
Q: Yeah, well, because it's been proven to not be ... it hasn't dropped to 60 cents. It hasn't dropped to 70 cents.
Evan: Well, it flash crashed to 63 cents last week.
Q: Did it?
Q: For how long?
Evan: It was quick.
Q: Oh, like a-
Q: Okay. Yeah, so if you held it for longer than a minute-
Evan: So here's a good question for you then. If you saw Tether floating around 80 cents for say 24 hours, would you jump in?
Q: No, well ... first of all, I would be completely losing my mind if I went into Tether previous to that little dip for 24 hours. Like, I can understand a flash crash, although not really because they're supposed to be pegged to the USD. It's supposed to be a stable currency. stablecoin. So if it stayed at 80 cents for 24 hours I would have no trust in it whatsoever.
Evan: So you wouldn't get in?
Q: That's a good friggin question.
Evan: It is. It is. What do you guys think at home? If you're watching, tell me what you think because here's the thing ... at the end of the day it's gonna be the market's confidence that Tether's actually tied to a dollar or even if you don't think it's tied to a dollar, it's your confidence that everyone thinks it's tied to a dollar, or it's your confidence that these exchanges needed to be tied to a dollar. That might be the play is if you see Tether drop to 60 cents, 70 cents you might be like, well hey, I don't know if this is audited correctly. I don't know if this is a good investment. I think it's shady, but at the end of the day I know that these exchanges are gonna lose a shit ton of money or because they have to hold USDT to keep that as a pair and they're the ones that are gonna make sure that it stays at a dollar.
At the end of the day, doesn't matter what exchange you're on. Who knows where those orders are coming in from?
Q: Agreed. Agreed.
Evan: So, these exchanges, especially in the cryptospace ... they could manipulate Tether to stay at a dollar. I mean I'm shocked that Tether stays at a dollar.
Q: Yeah, and that's the reason that it has support from the community that it does have. Is that it has a dollar or, like you're saying, there's a flash crash but for the most part, staying around 97 to 102 something like that.
Evan: Yeah, it usually stays in that range. I think if it went down to 80 cents for 24 hours, something's wrong. I would say probably an exchange has given up wash trading it to keep it where it's at or whatever ... I mean, crazy speculation on my part but I don't know. I don't trust it, but at the same time, it's game theory. Do I think that the exchanges are gonna do what they have to do to keep it at a dollar? That's my take on it, but I'm very pessimistic.
Q: So just to clear something up from what we talked about, where this all started ... it's actually Coinbase USDC.
Evan: Oh, okay.
Q: It's a Circle issued stablecoin.
Evan: Okay, so tell me about Circle because you seem to know a little bit more about them than I do.
Q: I think Circle has a little bit of like a Robinhood feel. You can go onto the app and they, I believe they back, not back, but they support 11 coins. So if you go on there, you can buy and sell 11 different coins. So, it's like a Robinhood but, they also have apparently issued their own stablecoin so ... and I'm sure they have all the regulation taken care of. I think Circle is a United States based company so they need to have that ready.
Yeah, I mean, I think that again, my opinion is that there will be a ton of stablecoins, but the ones that are out right now, I don't know if they'll be around in a little while, other than the Geminis or the Circles of the world.
Evan: Yeah, it'll be interesting to see what happens. Ryan was preaching hardcore stablecoins, I know Dimitry is always interested in these kind of like weird derivative stablecoins with oil futures and stuff like that and so we'll see what happens with the marketplace. It actually kind of does play back into Ravencoin with you being able to actually tokenize something that's usually a stable asset because at the end of the day, if it truly is something that's accounted for, there's no reason ... like, okay, for example Masterworks.
Q: I love Masterworks.
Evan: We might've talked about Masterworks before on this show. If you're not familiar with it, masterworks.io ... they take precious works of art. I think they have an Andy Warhol, and original Andy Warhol.
Evan: No, yeah, they have a Monet too but they have the Warhol ... who's the woman? Oh my God!
Q: The Mona Lisa.
Evan: No, it's not Mona Lisa. Anyway, the prints he does of the famous woman, I swear to God, they're gonna take my Pittsburgh card away from me after this one. But anyway, it's an original piece of art. It's a precious piece of art, and what they're gonna do is actually tokenize it and sell it off as a security. There should be no reason that that would ever have crazy price manipulation. That's gonna be pretty standard as far as like what the price is. It's gonna fluctuate with the art market. It's gonna fluctuate with the Andy Warhol specific art market, but it's not gonna do all this crazy manipulative stuff that you see in the stock market or ... and crypto especially with speculation. So I think the more we see prices actually be pegged as something that's real ... the Marilyn. The Marilyn Monroe. That's her name. We know that Masterworks has this Marilyn Monroe. I mean, unless they're really pulling some bullshit, but they're SEC compliant, so we know finally the SEC does something good for once. But we know they have this. We know that-
Q: We didn't mean that. SEC guys, we don't mean it.
Evan: We know that these tokens represent a portion of that piece of art. You can know own a precious piece of art that you never could in the past because you don't have to buy the whole thing anymore ... and so stablecoins like that, I think, are actually gonna be really awesome, but at the same time, like I said with Tether, you're not gonna become a millionaire. You're not gonna 100x on Masterworks. You might 100x on Masterworks, but it's gonna take awhile.
Q: Yeah, yeah. Because it mirrors more of the traditional market.
Evan: Yeah, it's not gonna be a speculative like pump. It's gonna be, okay, this Marilyn Monroe piece ... it's in the market. We understand the value now. It's gonna hopefully continuously keep going up because it's a precious piece of art, but it's not gonna do 100x overnight.
Q: Unless I burn all of the rest of the Andy Warhol images and it's the only Andy Warhol left.
Evan: That is one way you could do that, but I think you'd be breaking more than security's laws at that point.
Q: Yes, you're right.
Evan: So, yeah. I don't know man. Is there any other big news you'd like to talk about this week?
Q: I need to shout out one guy, hold on. I'm gonna find it.
Evan: Big shout out. Are we gonna knight him? Are we gonna dub thee?
Q: Can we?
Evan: I don't know if we have the sword.
Q: No, we don't have the sword. AKA.
Here, do some filler time. I've got 10 seconds to find this guy.
Evan: Alright. I don't know. There's really not a whole lot going on that I want to talk about more this week. I do wanna get some feedback from you guys on good Tron, bad Tron. We wanna continue covering coins that are in the news, so if you like us talking about Ravencoin ... last week we covered 0x ... there actually is something interested I wanted to mention about 0x from last week as well. 0x pretty much pumped because they were listed on Coinbase and now there's a lot of people out there that are speculating on what the next thing to get listed on Coinbase is. But if you take a look today on CoinMarketCap and you look at 0x and their exchange volume, Coinbase isn't even the number one exchange for 0x volume. It's Binance.
Evan: So, it's almost like a Binance listing ...
Q: Means more.
Evan: Means more. But a Coinbase, there's less on there. And you have to consider, there's all these people speculating is Stellar gonna get listed? Is Basic Attention Token gonna get listed? I forget what the others ones are. I think Zcash was one.
Evan: People are speculating on these to get listed because they think it's gonna pump, but the more coins that get listed on Coinbase, the less value they're gonna have. You know?
Q: Yeah, yeah. Definitely. I would say when the bull market does return that Coinbase is the primary on-ramp for just nonregular crypto traders.
Q: So when they see that ... like 100 percent. It's just like psychology, right? They see that like what is ZRX at right now? It's in the cents.
Evan: I don't remember specifically.
Q: Oh, I wanna buy one Bitcoin or can I buy ten billion-
Q: Or a hundred thousand ZRX. They're gonna do that. So when the bull does return, when the not regular cryptotrader does come back into the market as the cycle always does, that ZRX has the potential to you know ... really do something.
Evan: I think that's a good point actually. And I appreciate that sort of alternate viewpoint on things. You have to also consider that there's more people right now that aren't in crypto than there are people in crypto.
Evan: So, being that Coinbase is like that primary on-ramp to get into the space ... and like you said when you see ZRX, it's like ... oh shit, I can buy one one hundredth of a Bitcoin or I can buy like 50 ZRX and what if ZRX goes to that Bitcoin price. And it's noobs that don't look at MarketCap or Total Supply or anything like that. So, I agree. I agree with you. It does have more of an impact then just the volume on the day that it's listed on an exchange.
Q: Cool. I think we're in agreement there.
The only thing I had-
That was great filler actually. Great content.
The only thing I had, you know I talked with a guy over at ForkDelta, which is the fork of EtherDelta, decentralized exchange. They're one of the top in ether volume for 24 hours, if you visit sites that show that. But I met with a guy, actually I talked with him. Arseniy Ivanov ... we talked for a little while. Really cool guy. Love what they're doing at EtherDelta, ForkDelta, actually. But, I wanted to shout you out. He said he loved the Roundtable. Said he liked our content. Mostly mine, not Ev's.
That's because he was talking to you, not me.
Q: But I told him that I'd shout you out so, shout out Arseniy. Thanks for listening to the podcast. We love long time listeners, man. We'll knight you on the next podcast, how about that?
Evan: And I think, we always try and keep up with our YouTube comments. We've been getting away from that a little bit. Like if you comment on this YouTube video this week ... oh, we're gonna be in Malta next week.
Q: That is true.
Evan: So, look out for us in Malta next week. I don't know how together the Round Table will be, but we'll figure it out. We'll film it on a camera with ... we'll film it on an iPhone, if we have to.
Q: Yeah. Cool.
Evan: Or we'll just do audio next week.
Q: We're gonna get this stuff done. We're gonna do it.
Evan: Yeah. For you guys. So, again, we love the YouTube comments. If there's 40 of them, obviously we can read every single one. If there's a specific coin that you like that's in the news mention it to us, man. Link us the article. We'll look into it. We wanna talk about this. We wanna speculate on this stuff just like you guys do and you know ... that's it, man. Let's make this community better together.
Q: Wow. I'm inspired. I wanna run through a brick wall right now. Where is it?
Alright, well I think that's about it for us then.
Q: Yup, we're running into the interview with ThreeBx guys. Enjoy.
Evan: Alright, without further ado we are here with the CTO of one of the newer and more premier exchanges out there. We're gonna learn all about it today ... it is Chris - Christopher Forte. Do you prefer Chris or Christopher?
Chris: Either one's good.
Evan: Alright. ThreeBx. We actually heard about you first at HoshoCon. We've been doing a little research to get prepared for this interview.
Tell me what is ThreeBx all about? What makes you guys different from all the other exchanges out there?
Chris: Well, to start, we kind of push ourselves more towards being a marketplace. So we're a community driven digital asset marketplace. Kind of mini horned open platform for trading that allows digital assets as a generic term. Currently we support crypto, but we plan on expanding into other kinds of digital assets, whether it would be things like CryptoKitties or tokenized assets or ... we've even looked at concert tickets or sporting event tickets. So, one of the big things that we're kind of differentiating ourselves from traditional exchanges would be a wider range support for different assets and kind of a trading platform with more freedom for the user. So what that kind of means is that you can trade with, at no market impact ... we don't have trading pair restrictions so you can trade any of our supported assets into any of the other ones. We have kind of a simple, more familiar interface with the user. So, we hope to-
Q: Just tell us a little bit about ... 'cause I think one of the coolest things that me and Ev saw when we were doing a little bit of research, tell us a little bit about the no trading pairs and where that idea came from. 'Cause that's relatively unique to your platform from what we've seen.
Chris: There's thousands of cryptos out there and thousands of tokens. There's the collection of assets out there is huge, so when you start getting into these exchanges with fixed trading cards, you have these markets with very low liquidity and it's causing a lot of issues with traders, especially with some of the ICOs and new tokens, it's hard to trade them without drastically affecting the market value. We wanted to king of eliminate that confusion behind trading pairs and kind of open it up to any crypto. I know, personally, as a trader, I've had to go through many different trading pairs to get a coin that I wanted, it's a little frustrating.
Evan: Yeah, I love that idea. I think most of the big exchanges that I use, you always gotta find a pair first if you want to get into something and if I want to get into a coin that's not necessarily paired with everything, then I have to get into one of the big four or one of the big five. I think that's an awesome way to run things on your end. But, it does make me question then, if you're going to create no pairs at all, how are you guys gonna deal with some of the volume issues that might come with maybe more of the obscure tokenized assets trading with some of the lesser known tokenized assets?
Chris: I mean, obviously we're always gonna have an issue with pushing traffic towards the lesser known coins. One thing we hope to do is bring on interesting companies that we can really inform our user base about, create kind of a community around these coins, really educate people around the companies behind the coins to try to drive traffic. As far as the risks of low liquidity, we don't really have those, because we're an open market place, we a gregale all of our market values from external sources. Even it's a very kind of obscure coin or it's an obscure asset, you don't have to worry about some of the risks like market impact, or price slippage with your trading, so, even if it's a coin with very low liquidity, even in our market ... we're kind of leaving it up to the community to drive traffic.
Another one of our features is private offers. We allow people to put private offers onto the platform and share it between their circles to provide an alternative to an OTC marketplace. Some of it, we're giving back to the community so that if they wanna do a trade for an obscured coin to another obscure coin, they can promote their own offers. We hope that between those features we can drive traffic to all the preparers.
How does your coin play into this?
Chris: We released, it's an ERC20 token called the threshold token, we released it to externalized feeds from the assets. Another thing that we want to avoid is, if you trade on a lot of these exchanges and you buy one big coin, you don't necessarily get one, they take fees out of the traded asset. And, for us that was kind of problematic when we support nonfungable tokens ... I use a book as an example, if I buy a book from you and you take a fee and you rip a page out, it's not very good. Or, a Lego set, that's another good example, if I gave you a Lego set and took a fee of one random piece ...
Q: Don't do that.
Chris: You're not gonna be too happy, yeah. When we start trading nonfungable tokens like crypto kitties, or tickets, or e-books, or ... name any digital asset out there, we can't take a piece of it while we trade it. We introduced our own token to solve that problem, and it also introduced a very interesting mechanism for us to lower our fees through promotions, the sign up referrals, as I think you guys have seen, if you sign up we give you threshold tokens. We plan on doing an air drop. We can reduce your fees drastically by giving you back the coin that drives trading. We hope that the coin ... even though it's an extra step that a lot of people aren't used to, has a lot of benefits and can outweigh the cons.
Evan: I think this is pretty innovative, you guys are definitely going with some concepts and solving a lot of the issues that we see with these existing platforms. Tell me now, what is gonna be your strategy then to acquire users and grab a user base full of people that will be using ThreeBX in the future?
Chris: Currently we're trying to go after a lot of the coin companies. We're trying to partner with innovative companies pushing forward the industry and leveraging their communities through education giveaways, etc, etc. We're trying to partner with companies to share communities. We're doing quite a bit of giveaways as a very introduction to ThreeBX, we're only about two months old, so, we're very new in our release, and then we're just trying to get the word out there. We're going to conventions, meet ups, interviews like this, just to try to inform people 'cause it is a little different, we've had a little bit of confusion around ... one of the biggest questions is "Why would you start one like this if ... with Binance?" like, how to you compete with Binance, and it's like, well, you don't.
Chris: We're completely different, but a lot of people have issues, kind of seen past the technical side of it to get to the benefit, we're trying to be informative as possible.
Q: I'm sure this is a question you get all the time, but, you kind of have an almost an atomic swap situation here where it's almost like one person is trading obviously another asset for something else that someone else has, but you guys hold the actual ...
Do you hold the actual token in escrow or how does that work?
Christopher: Yup, we have a custodial system, everyone has their own walls within our platform and we hold it for the sake of an escrow, the transactions, and then when you're ready to move it out ... it's kind of what you're used to on a traditional exchange where it's a withdraw feature. But yeah, we do hold the coins, so that would be a biggest differentiator from an atomic swap.
Evan: Got it. Now, is there some sort of insurance or guarantee on those escrow accounts, or with your custodial, with your custody of the tokens or the assets?
Chris: I think that's a problem that everyone has in the industry, to be honest with you. We're gonna do our best to stay with all the regulations, honor anyone's account. We hold quite a bit of our coin in cold storages for increased security. We've done a lot of development around the private keys in protecting how we store the currencies, so, outside of that it's gonna be a good faith thing as any other exchange would be and I think there's only a couple that have any actual insurance around their assets, we hope to go that direction as the industry matures a little bit, but, for now I think it's gonna be just one of those industry issues.
Evan: And we did meet you at HoshoCon which is the blockchain security conference, and if you've got Hosho stamp of approval along with some of the other companies that were there, I thought it was impressive how much they were dedicated to security and things like that, so, I'm sure you guys are doing your best just like everyone out there.
Kind of a trick question for you, but, hey it's good to know where everybody's going in the future with this kind of stuff.
Q: How did you guys like HoshoCon? I know you guys were there, obviously, how did you like the conference?
Christopher: It was great, it was our first convention. It was our first getting ThreeBX out to the public. We've been doing mostly online marketing, email, social media, the community chats and meet ups, but this is our first big event. It was good, it was really good. It's always interesting to see the community in Las Vegas, it turns out that there's quite a crypto community here, so, it was a good introduction to the Vegas scene and some of the other close companies.
Q: Definitely, that's something we saw 100%. Where are you guys located?
Chris: We're in Las Vegas, we're a Vegas run company.
Evan: They're in Vegas, baby.
Q: Got it, so we're gonna need to go back some time then.
Evan: That's one thing we've noticed, especially in our travels to different conferences is, it seems like there's a lot of nice ecosystem of crypto and blockchain based companies in each city, and Vegas was definitely no exception to that. So, just to continue on with some of the questions we asked earlier, we are ICO Alert, we deal with a ton of new coins, a lot of them are going down the road map and at the end of that road map is getting listed on platforms like ThreeBX.
What does a project need to do for you guys to work with them so that they can get some liquidity, get some volume on your platform?
Chris: It starts with conversation. We really are trying to list only reputable companies that have a product behind them. We're trying to stay away from a lot of the scams as everyone is, obviously. It starts with a listing application that we have on our site, it drives us to a conversation over the phone or in person, we've had a few in person. We discuss the technology and what we can do for each other and then it's usually a pretty simple integration, but, the diligence process and making sure that everyone has their affairs in order is important to us, especially as a U.S. based company. We're trying to be as careful as possible.
And as far as the liquidity goes, it really comes down to how our platform structure and how we want to stimulate our market. We kind of ... say off the record ... kind of between the lines, we kind of act as a market maker for some of these guys, and we try to sell ourselves as an alternative to a traditional exchange. We've had a lot of companies who just ICOed, find our platform very unique because they can do private sales through our private offers to investors or to people who are still getting a hold of their token, and they don't have to worry about people trying to liquidate and dropping the market value. Someone can jump on our site and dump every amount of coin that they have, and they don't have to worry about tanking the market. We're kind of relying a lot of our liquidity on the company, it's just another tool for them to distribute their tokening to kind of get their coin out there, and then we're kind of helping along by pulling our community in and other partnerships communities in.
Q: Interesting. How long ago did you guys start? And, I wanted to get a quick background on how you found yourself a ThreeBX. But, how long ago did ThreeBX begin? When did the idea start and when did the platform come out and things like that?
Chris: Technically we started last year. There was a previous product or vision in place, this was before I came on board. Because of some of the regulation changes and some internal stuff, they pivoted a little bit. ThreeBX officially became developed and started development early this year, I would say, late January, early February, and then we went live about two months ago. I think mid-August we went live with this platform, and then in the meantime we've also been working on a wallet that should be released here within the next couple of weeks for off change transactions. So, we're kind of spanning into the digital asset field a little bit more by creating an off chain platform using assets, bundled assets, so, that should get launched pretty soon. But, yeah, most of the going public, it's only been about two months.
Q: Explain the off chain assets a little bit more for the users that might not have an understanding as to what that is. What are you guys releasing here in the next couple of weeks?
Chris: Sorry, we have a patent pending process for taking coins and distributing it. We're transferring it off chain. The closest that we can relate it to is me giving you a hard wallet digitally. So, you know, you see some people go through transactions by just ... they put crypto on a hard wallet and they give it physically to someone, and it's kind of the same model you see with cash, I can give you a dollar in person instead of a credit card payment or something. We're trying to do that digitally with crypto by encapsulating it and kind of creating a little asset out of currency. So, it's a universal platform to trade off, off chain. It will be a little different then what you're probably familiar with, with a lightning network, where it settles back onto the native chain, but, this in theory doesn't settle back on the chain until the user wants it, so there's no time limits.
Evan: Well, Chris, I gotta say that you guys are definitely doing some awesome unique stuff solving a lot of problems with the platforms that are out there right now. You said that that was patent pending, the off chain stuff?
Chris: Yup, we filed a patent earlier this year, so, we're going down that route. I think we're gonna use it as our replacement for white paper once it gets a little further along.
Evan: Well, you guys are definitely ahead of the game for a lot of projects that we see, so, we appreciate that. So, tell the people, where can they find more about ThreeBX and what's going on with you guys.
Chris: Our website is threebx.com, spelled out three. We're currently live, like I said, it has all the links to get into the actual trading platform. We currently are referral only, I guess, the sign up page requires a referral code or an invitation code. If you go through the threebx.com sign up link, it auto populates that for you, and as you guys saw, it gives you a little bit of a threshold to start the account with, yeah, and we are live.
Q: I want to hear about this BTC giveaway. I'm the shill, I'm the degenerate in the office.
Chris: We're given away $500 worth of BTC every week up through November. We have a couple other giveaways coming up and it'll probably continue pass that, but I think our last giveaway is right around World Cryptocon. We're gonna go to World Cryptocon at the end of this month, early November and that following Friday will be the last one of this series, but we're also gonna be doing some hard wallet giveaways, and then restart the process after that.
Q: So, you only have to be a user? Do you have to use a certain referral code, how do our users go about that?
Chris: The giveaway currently is, you get an entry into the giveaway for every time you deposit into the system, successfully make a trade, or buy some threshold token. So it is based on an action, there's no specific referral code, it's open to all users. Yeah.
Evan: Alright, well, Q, do you have a referral code yet, you wanna shill out to get yourself some more?
Q: Absolutely not, I think I'm already ... I'm gonna go in here ... I'm already logged in, it was a really seamless sign up process. I was in the platform within a minute. I appreciate you guys doin' that, but, yeah, I'm gonna get a little bit of threshold here and see if I can throw my hat in the ring.
Evan: Alright folks, the platform is called ThreeBX. Christopher Forte we appreciate you joining us, as always man, great job, we look forward to seeing these things progress and we'll stay in touch.
Chris: Thank you very much for having me today.
Evan: Alright, cheers.