Don't sue me bro, but a few days ago we talked about the squid games. Token. We talked about how it was uh, very, almost certainly unaffiliated. With netflix.

We talked about the multiple spelling and grammatical area errors in their white paper. We also did the math about how disastrously essentially impossible. It would be to get your money out of of basically the squid game token, and the reason for that was very, very simple. In order for you to make money the goal of the squid games, token uh was for you to play the squid game with 456 other players.

But in order to play the game, the squid game, you would have to pay an entry fee of uh 456 squid, which at the time of the recording, was like 5 300, which is insane. I mean you would almost need 200 000 to play the game which is the opposite of of being affordable, which was kind of the whole point of the squid game right uh. Anyway, you would play these rounds and you would have this one in 456, chance of winning and while playing you would have the opportunity to earn marbles, but marbles were really important because marbles would allow you to sell your squid token. So let's say you invested 200 000 to play the squid game.

If you lost well, your 200 000 is gone because you lost it playing the game. If you won, you would need marbles to get your squid out, but in order to get marbles you either have to buy them or you have to play the game. But if you play the game, you've got a very large chance of losing one. I mean you have a 455 out of 456 chance of losing right.

So if you try to get marbles by playing the game, you're going to lose all your money playing the game because the odds of uh winning are less than one percent substantially less than one percent they're less than one-fourth of one percent, okay, uh but marbles. Have this really weird uh burn affiliation, where we're essentially uh? If you wanted to take out, for example, uh at the time we did the math, if you wanted to take out ten thousand, oh i'm gon na get a little blur there. If you wanted to take out ten thousand squid at a value of uh at the time like eleven dollars per squid, that's a hundred eleven thousand dollars. You would essentially have had to bought marbles uh uh worth about well twenty thousand marbles, which would have been a cost of sixty six thousand dollars.

So you would have lost another. Fifty percent of of your your money just trying to unlock the ability to sell. I mean this is like the the most horrible kind of cryptocurrency ever where, essentially, they trap you into a game where you have uh less than one quarter of one percent chance of winning. And if you want to sell uh, you have to spend a god-awful amount of money just to have the right to sell or play the game where you have a less than one quarter of one percent chance of winning and that's in addition to the spelling and Grammatical errors, the fact that coin gecko called them a scam uh, you know everything about the squid game.

Token seemed like a complete scam, so this token kept going up and up and up it would just not stop going up uh and it was. It was pretty incredible and the problem with that, when something keeps going up, is people have this impression that when things go up that they're safe - and that is wrong - this is something we talk about regularly in the stocks in psychology. Money group that when something goes up uh, it is not safer, it is riskier, and this is something that's extremely important to pay attention to when prices go up. Risk goes up and so worth noting that uh that the squid token here has uh on on coin market cap has had a little bit of a price shift.

Uh, let's say so: i'm gon na go ahead and show the last a month here. Actually, let's just go to the last seven days: it's probably a little bit more relevant there. We go okay, so uh in the last seven days here. Take a look at: what's happened to the squid token, so the squid token here ran from about 10 cents to two dollars to five dollars to 11.

This is when i made the video calling the squid token a scam and encouraging people not to invest in it. Yeah, because of how difficult it would be to actually get your money out like even if you did win, you would just be backed into a corner again of trying to actually get your money out right. I went to 13 14 folks, it exploded. Then it 3xed again after i made my video calling it a scam it 3xed to 32.

this saturday and then it kept going and kept going and kept going and kept going. It literally kept going look at this. It ran all the way to uh 38 and then folks, look at this. It ran up to 89 89 dollars.

The squid token ran two that's eight times. That's an 8x return. So had you invested when i called it a scam, it would have gone up. Another 8x, but then folks the reckoning, a 99 decline.

Wait, i'm sorry a 99.99 decline. It is now worth one third of one penny. The scam token is no more look at this. It ran all the way up to.

It actually ran. Oh my gosh. Six hundred twenty eight dollars seventeen hundred dollars - twenty eight 2. 800.

Look at that in a matter of five minutes, or that's about 15 minutes here. In a matter of about 15 minutes, it went from 625 dollars to 2 800 and in a matter of about an hour and a half went from 38 dollars to 2800 and uh then basically evaporated all that money is gone. So whoever created this scam really just made off with um, i would say somewhere around - i mean it's tough to say i mean the 24 hour volume was around 14 mil. You can't really go by the valuation, because uh the valuation implies that they're able to liquidate all of the coins at a certain price, which is obviously not gon na happen uh.

So, but the point is any anybody who put money into this has lost money. So if we look at gosh now, i feel terrible about it. But if we go back here to uh but then again i don't because it's kind of like i mean the writing was all over the place right so um yeah i mean you had you had 24 hour volumes of somewhere around 10 million dollars, uh jeez, it's Difficult to tell how much exact money was thrown into this, but i would venture to say there was probably somewhere between 10 to 50 million dollars thrown into the scam, uh and uh. Anybody who, who bought into the scam uh uh, has obviously lost their money.

I mean you were basically throwing money into a chinese, handcuff, uh and uh. Now now, whoever created this has cashed out and uh. They can probably retire pretty well here, it'd be very interesting to see where uh, where the money ends up going. What ends up happening here, uh with this money, you could see uh, it looks like money is being transferred out of it substantially.

Yeah look at this one minute ago. Look at this tokens like crazy uh are being transferred out. Uh would look like out of this. Address it's a little difficult to tell here.

Oh now, it's been listed as a heist. Look at that they've labeled it as a heist uh, where a notable amount of ethers or tokens have been stolen. Oh forty thousand nine hundred twenty two hodlers! So imagine forty thousand people wanting to change their lives with the squid token and let's say they each put in fifteen thousand dollars. Just as an example there's no way, that's 600 that'd be 613 million dollars, uh yeah, i i mean.

Oh my gosh, that's uh. Certainly much more than i that i would have anticipated uh if that uh, if that was the average amount, but i mean let's, let's even take a couple - you know take, take a take a number away here. That's about 61 mil here. If everybody put in 1500 on average - maybe that's probably more of a an expected average 1500 or maybe even less, you know even 150.

The point is it'd still be. Somebody still made off with millions upon millions upon millions of uh of of uh dollars here, huh yeah, yeah yeah all right. Well there. It is all right, that's unfortunate, but that is uh.

That is the result of a pure scam and it was uh very. Very i mean the writing was all over the place and it's unfortunate to see that but uh anyway uh. Okay, that is the squid token! Buyer! Beware: when you look at potential altcoins, they do not have to be legitimate at all.