This video is brought to you by voyager and get interest on your cryptocurrency, some of the highest yields i've ever seen by going to matkevin.com, voyager and use code kevin also the coupon for courses on building your wealth link down below does expire tonight. The popular show on netflix squid games has now inspired an official cryptocurrency called the squid token, which you can then use to enter virtual squid games competitions to earn more squid tokens by winning prize pots by, of course, being the last player standing out of groups of 456 and while playing the squid games game, you can also earn marbles. You'll earn more marbles if you're not violent to others in the game, and these marbles are really important. Because if at any point you want to sell your squid token, which you've invested in to play the squid games, if you want to sell out of the squid token you're going to need marbles because without marbles, you won't be able to sell hey.

Everyone me kevin here: look if you are confused intrigued, worried if you think this is a scam. If you have no idea what the heck this is and you just like squid games and now you hear, there's a cryptocurrency associated with it and you want to know. Wait is this something you should buy. You should watch this video all right.

Let's get into this, so first things. First from its initial price, the token squid token uh dollar sign squid is up. 80. 000.

If you go to coin market cap coin, market cap only shows this coin. As of october 26th, it shows it uh at approximately five cents, around uh two cents, five cents bouncing around here, potentially as low as what we got here: 1.2 cents on october 26th, and it's just gone parabolic since then. Right now, we're sitting at 11.74 cents per token up 416 percent. Just in the day, we've got about 12.5 million dollars of 24 hour volume and a total market cap of about 9.3 billion right now, 9.3 billion dollars.

The squid games token is currently ranked uh. The 2778 largest token on coin market cap - and there is a banner here that quote - we have received multiple reports that users are not able to sell this token in pancake, swap this might have to do with those marbles which we'll talk about soon. Please do your own due diligence and exercise caution, while trading this project, while clearly inspired by the netflix show of the same name, is unlikely to be affiliated with the official intellectual property, and this is our expectation as well. We do not think this is an affiliated coin.

This appears to be an unofficial coin. In fact, it's so unofficial that coin gecko has preferred to stay away from squid. Saying quote, this token did not meet our listing criteria. Hence it will not be listed on coin gecko, it's most likely a scam, says: coin gecko coin founder bobby ong, as he told the coin telegraph in an interview.

He also stressed that coin gecko is not the squid game. Token partner, as it's mentioned on its website uh, the co-founder of coingecko, says this is most certainly not true and we are not a partner. Nor are we affiliated with squid game, so a lot of sort of misleading information potentially starting out. But what is this, and how does this work? Well, if we want to know more, we can go to squidgame.cache and here you're, going to find a website and one of the first things that you'll find are pictures of the actual squid game that you might be able to play.

They say this is built on six different games. You start with the red light green light game, and then you go on to uh the game on cutting out the little food puzzles and uh. There are 456 players per game. One winner takes the pie worth noting that they have a banner here that says: elon musk, shield, 4 squid game dollar signs squid token to the moon, and they have a few pictures here, uh or actually they just link directly to uh the tweets here.

Where somebody wrote squid game, uh, world of engineering tweeted, what's the most overhyped thing of 2021 squid game, elon musk replies laughing emoji, no direct relation there to uh this squid token and here's a link that says isps want more money, because so many people are streaming Squid game: those are internet service providers, elon musk, says squid. Game is squid game for isps internet service providers, so uh, no direct relation here to the squid token, so kind of seems a little shady on the website that they would say that elon musk is shilling for dollar sign squid when he didn't say anything about dollar. Sign squid, but anyway uh you get pictures of the games that could be played here. If you go to the play button and you try to play you'll find that these are actually just coming soon right now, so we can't actually play these game yet games.

Yet they're listed as coming soon and uh the founders. It can't really be found anywhere, which is also kind of interesting, because if you scroll down over here to uh, it just says member uh - and it says here the ceo cmo uh cto chief marketing officer. It's chief executive officer, chief technology officer, right developers, designers or whatever i, google, reverse imaged a few of these pictures. So, for example, i took kanye's picture here i saved it.

I uploaded it to google reverse images. I did the same thing with danny. I did the same thing with dave over here with steve over here. I could not find that these pictures had ever been used before, and that made me think two things one either they're fake pictures, because they're, not real people uh or these people are just really private, and this is the first time they've ever they took a new Picture - and this is the first time they've put this picture out, but i also can't find anything on those same named peoples when i, when i did a googling on those names, so i can't seem to find anything about these people uh.

It is worth noting that nvidia about three years ago created this website, and it is an algorithm website called this person does not exist, dot com seriously, try it go to this person does not exist, dot com and they basically create people's faces. Every time you refresh so every time you refresh the page, you get a different human. That is not real. These.

These are not real people. These are like computer generated pictures of people, um yeah kind of interesting, because in some way they could potentially look like profile pictures as well, so worth noting that this person does not. Exist.Com is a real website created by nvidia to use algorithms to create people that do not exist. Uh again can't find these individuals on uh online also uh worth noting that if i go to the twitter handles here, uh the squid games bsc twitter handle which is go, go squid game is now temporarily restricted because there's been unusual activity from the account they have.

They don't follow anyone, you can't comment on any of their stuff and they just post sort of updates, uh on the squid games, market cap or whatever. That's this one, which is the official link twitter from this website. If i go to the next twitter handle that one's just straight up suspended, if i go to uh the telegram or discord, the discord doesn't actually allow you to chat and neither does the telegram which is kind of sus. So then i thought: okay! Well, let's go to the white paper and try to understand: why would people buy this thing like what's the theory what's the thesis, so let's look at the white paper for the squid game, all right, so the squid game.

This is a play to earn platform, apparently, which they're trying to really leverage the the uh popularity of axey infinity right now, in fact, they're going to do a direct reference here to axe infinity. I actually invest in the axe. Infinity token uh, i'm still very much a novice on axe infinity though so i've got a lot of work to do on that one very high risk investment. I tell her it's like that.

Could just go down 50 percentage like gg right, but anyway uh. So this basically just gives you the overview that 456 people will be able to join and the more people join. The expectation is the larger the prize money will be, which makes sense, because if you have 10 people versus 456, obviously there's gon na be more potential for prize money. I do think it's interesting that they say here.

Your experience will not reflect deadly consequences, but instead it says your experience will only reflect the joy of winning rewards and the sorrow of losing money when the game fails. So the reason they say that is because you have to buy to get into the game. So you have to hold squid token and you have to pay 456 squid to get into round one of the game. Well, it's gon na cost.

You now, because squid has gone up so high. It's literally gon na cost you five thousand three hundred and twelve dollars to enter the first round and if you don't have enough money to get to the last round, you're you're guaranteed already lose money right, because the only way to make money playing the games is By making it to the last person standing all of these fees, ten percent of the fees go to the developers as a profit, which i kind of think are fake people, and ninety 90 of the money goes to the pool, so the price pot right. So the first is the red light green light game that you're going to play. The second is the candy game and you have 30 seconds to cut out the shape of the honeycomb candy, just like in the real squid games.

And if you win the players that win here are going to get a certain candy nft here, but beer bear in mind it's going to cost you six 11 dollars right now to enter level round two to enter around three. It's going to cost you! Twenty three thousand two hundred dollars and you win the tug of war based on the frequency of clicking. They do say at the end of this white paper that they're going to do whatever they can to make sure uh that uh they will ban bots. Good luck with that one uh there's so many click bots uh! You do also have quite a few typos that end up coming out extra dots and misspellings in various different places of this paper.

Then you got to play marbles based on also the squid games, game and uh. You you, the entry fee is actually 4 000 squid, plus the nft that you win in a level two which is the candy nft. So you have to spend your candy nft to enter uh the next, the round number four plus forty six thousand dollars uh. Then you have to to play the glass stepping stone game.

Uh, you need to uh, spend your nft from the previous round along with 93 000 and then you're gon na win another nft. If you win the glass stepping stone game and then the final game is gon na cost, you a hundred seventy four thousand seven hundred dollars right now to join or fifteen thousand squid, plus your nft from the prior game. And then, when you win technically, you win the big bonus here, and these are gon na, be groups of 456 players and then they're going to be five different series like this would be a series of nfts based on sort of your progress in the game, apparently Or or how well you do in the game like an achievement space thing. I do find it interesting that there is expected to be about a total supply of 724 million of these squid uh.

That's and i basically got to that by subtracting out the admin and marketing and the burning, although technically, i suppose, admin and marketing could be part of of the burn uh or it could be part of supply, so somewhere between 79 or 24 million and 800. Well, less than 800 be like uh minus 14 million, so eight uh, 786 million roughly around there so 724 to 786 is the circulating supply for the squid token. And here then they introduce you, and this is where things get a little confusing. So first you're going to buy squid to enter this game for the right to buy it right.

Every time somebody buys squid, it is going to allow somebody else to sell it using marbles at to start with a two to one ratio. So you're gon na need two marbles to sell one squid, so this gets convoluted yeah. I know i get it. So let's say you had a hundred squid in order for you to actually sell that squid you're going to need 200 marbles, but for you to get marbles you either have to buy them or you have to play the games, but playing the games gives you uh.

455 out of 456 chance of losing all your squid right, because one out of 456 actually win right. So that's that's not so good! This is a 56! I want to make sure i got the number right there, but uh, let's go to the front page here. So it is yeah 456 players exactly okay, good. So now, when you have marbles which you get from playing you'll be able to sell your other squid.

So if you put like 10 000 squid in here, let's just do that math here really quickly. If, for some reason, you're like oh, i'm gon na buy 10 000 squid and you have an expectation of winning one out of 456 times, but 10 000 squid isn't even enough to get you through uh level. Uh one see level one's gon na cost. You 456 level two is gon na cost.

You a thousand two thousand four thousand eight thousand you're, not even going to be able to get to level five of the games, so ten thousand squid isn't even enough to play the game. So, basically, if there it's not enough for you to play the game, there's no way you're going to be able to earn marbles. Instead, you'll have to buy marbles for the right to sell your squid and then those marbles get burned. So if you had 10 000 squid token right now, you would need roughly 20 000 marble, but this math gets funky i'll.

Tell you about that in a moment, you need about 12 20 000 marbles which sell for about three dollars and 30 cents right now, which means you would have to somehow have 60 000 66 000 in marbles just to be able to sell uh 10. 000 times 11, so about a hundred eleven thousand dollars worth of squid, so you're gon na lose 66k just trying to sell your squid, let alone playing the game with a massive odd of losing okay, massive probability of losing doesn't sound like good, but anyway, they refer To this as marbles being inspired by slp from axi infinity, this is what you earn when you win the game in axi, infinity, uh, actually, infinity is really interesting. It's highly highly risky and speculative, but anyway, very interesting and marbles is a token. That's uh, basically, really its sole purpose is to make it harder for you to sell and dump squid.

That's pretty much. The argument here and what i calculated because of the math they give you here, is that they're only putting out 900 000 marbles a day and the initial supply is 21 million, but wait a minute if you have. If you go over here - and you have 724 million squid - which we learned here - you're gon na have at least 724 million in circulation, 724 million in circulation - would require about 1.4 billion marbles to sell at two to one but they're only issuing 900 000 a day. So that would take you around four years to actually have enough marbles for all squids to circulate one time to be able to sell one time.

So, in other words, people who are putting their money into this are really going to be heavily incentivized to play the game, because it's going to be really difficult to get your money out of this. Even if you win it's going to be really expensive to get all the marbles that you need to get out, which is kind of interesting. Probably why coin market cap has that banner uh and an alert about this? But anyway, then uh. They talk a little bit more about the features some addresses how to sell uh again right now.

They mention that uh, you, you sell with a two to one ratio with marbles, but there are a lot of folks on reddit right now who are actually complaining that they sold uh one squid. They sold one squid token, they had 12 marbles, but after they sold the one squid token five marbles actually burned. So they ended up with seven, which is kind of odd, because that either means the gas fee was changed or the amount of marbles you burn. When you sell squib is pegged to some sort of two to one ratio between the initial price of squid and the initial price of marbles, and then it fluctuates and they're sort of tethered together, somehow very, very funky.

I don't fully understand that part, but anyway uh. Then they talk about how they're going to market this, how they want to look at this. You will see countless memes flooding your news, feed on every social media app including twitter, facebook, instagram, tick, tock and, of course, all the major cryptocurrency forms. Okay, including uh.

They mentioned here coin gecko, which it's worth noting that coin gecko purposefully excluded them, uh and uh. Major communities in telegram will discuss about qui squid, and then we will hold five airdrop activities to gauge or to stage interest. They also, then talk about an audit. How they're gon na provide their audit report which they did.

But this audit report is really just a pdf thrown together by coin scope and uh like basically. The bottom line is that they give them a 92 score on the team and the contract and the domain info, like really you're gon na rate them based on their domain info, like that seems kind of shady and sus, but anyway, uh coin coin, scope. Uh is it put together this information and if you just google coin scope audits, you could review coinscope.co and if you go to coinscope.co, you can get an audit and the way you would do this is you would submit a a form basically to get your coin Audited, you could either email them or you could add your coin right here and my assumption is they they just charge a fee and then they'll audit, your coin and rate you, but for them to collect more revenue, they probably have an incentive to give people good Ratings so that they keep getting used. This is to me kind of like the rating agencies that really helped fuel the 2008 financial crisis, where we had rating agencies incentivized to rate bonds that were junk bonds at aaa just to get more fees.

Okay, interesting! So so far, we've got a lot of things that are quite sus now. A question that comes up often is how do you buy it? Well, this is also a little sus so to buy coins that are not presently on the market or regular, like exchanges like coinbase pro or voyager. Oh, my gosh voyager has been so good to me, like i've, been transferring all my coins over there worth noting that uh you can sign up for voyager digital and get uh substantial yields on your cryptocurrency for the best uh promotion and the fastest way to set Up your account, go to medkevin.com, voyager and then use code kevin, so medkevin.com voyager use, code kevin, but anyway, pancake swap would let you trade coins that are usually otherwise not available and so uh. I could go in here and i could trade uh.

Let's say i'm gon na take eth and i'm gon na go buy, i don't know alpa token or alu whatever i don't know a lot of these tokens. Some of them look familiar bell. Protocol. Whatever there are, there are hundreds of them listed on here marsh unmarshall, math mobox, whatever in order to get squid to show up, you have to click squid here by squid and then it'll show up here.

But you get this warning that there's an it's an unknown source token and to import this, which you could just hit import here. It would then allow you to in theory by some squid so for, but i don't have a balance on here right now, but in order to get money over here, you'd have to connect your meta mask, which i highly recommend. Metamask metamask is a pretty good, decentralized wallet, but now i think it's worth at this point, trying to come up with some kind of conclusion on what i think about this right after i mentioned that open c has a totally unofficial, squid, gamers merchandise or nft collection Of of characters wearing merch and it's all 456 of the characters. Apparently, what i did find interesting is that they almost all look the same.

They almost all have exactly the same nose and it's just the hair and like the number on the shirt, this is uh. Something else: okay, so uh, that is the squid token. Now, what's my verdict on this? Well, i would not recommend you buy this. I think, if you put money into this, the odds of you winning in the squid game are one out of 456 and because other people are probably going to cheat, i would say your odds of winning are negative, like zero to negative uh.

Even if you did win, i think you would find it impossible to find enough marbles to actually get your squid token out and ever make money. On the token. So unfortunately, i'm concerned, especially since the developers aren't reachable - and it looks kind of shady i'm concerned - that anybody who's bought squid token might end up getting stuck in this network, because if everybody all of a sudden wants to sell squid token because they they don't like This anymore and the squid token price plummets and the price for marbles skyrockets, you're gon na get screwed because see you get screwed doubly that way. Consider that, for a moment, if you play the game, you're gon na lose your squid, because your chance of winning is next to zero.

If you don't play the game and you just want to cash out, you need marbles. But if people realize the odds of winning are next to zero everybody's going to want to cash out driving the price up of marbles driving the price down of squid, because who's going to want to buy squid if they realize there's next to no chance of buying. So nobody's going to want squid, so demand is going to plummet, demand's going to skyrocket for marbles, which means the price of marbles goes to the moon. But you don't want to hold marbles, because the only thing that marbles really does for you, i mean other than you being able to potentially trade it and speculate it.

If you could even get your hands on it, uh which you might only be able to do by playing the game, which would be dumb because you'd lose a lot of money in squid, which is also dumb, but anyway uh. I mean i'm sure there are ways to actually trade marbles as well, but you'd have to find people who are holding it. I can't seem to get marbles to work on uh on pancake swap see when i click on buy marbles right here, even though it implies that you should be able to do it, it just never actually shows up for me. I could only figure out how to get squid, so it kind of also makes me concerned.

Oh hey. It actually came up, okay, okay, so it actually came up. That's that's impressive. Okay in fairness, marbles actually came up, so maybe there is a way to buy and sell it through through this.

You got the same warning though, but anyway my expectation is the price of squid's going to plummet. The price of marbles is going to skyrocket, as people try to get out of here. I do think there's a good chance that people are going to speculate on the price of marbles, which could lead to a lot of volatility in the price, which means it could actually go down even in the short term uh but yeah. I i don't know about this because again, the only utility of marbles is getting your squid out, so i would not want to touch squid for the life of me.

If you wanted to trade, something i'd probably want marbles uh unless and here's the other risk factor. Okay: here's where it gets crazy, though, because there's going to be a flip, so watch this you're going to have a flip at some point if marbles are worth three dollars right now for a marble and a squid token is worth 11 well, it makes sense to Pay two marbles or six dollars to get my eleven dollars out right, but at some point, you'll probably get to this weird parody. Where what might happen actually is, you might actually end up seeing the squid token go down to let's say two dollars and if marbles is at three dollars nobody's gon na buy marbles, because why would you buy marble other than to trade it? Why would you buy a marble just to unlock your squid token, because you would now be paying six dollars to unlock two dollars? That'd, be dumb, it'd, be a neck net, negative four dollar trade right, so that would mean the price of marbles would have to go down to uh, probably somewhere around two dollars or somewhere around one dollar. And now you have this break, even which that doesn't make sense either so you'd probably have to see marbles go down to somewhere around point five cents.

Now it would make sense for people to want to unlock their squid again. So, in other words, this is like horrible from every way. I look at it if the price of squid goes down marbles has to go down, at least in the short term, though there's going to be this weird potential pump and drive for people wanting marbles, so they can get their squid back out, but then they're burning A lot of money on their squid and if they play the game, they're screwed everything about this literally feels like a trap like it feels like a like a chinese handcuff like once. You stick your finger in.

You can't get it out and there's no way you can squeeze in using another hand to get to get your finger out. Uh, it's uh, it's a disaster, so i don't recommend it. It's not affiliated from anything that i could tell with the actual netflix and i would steer clear anyway. Hopefully you appreciated that explanation and we'll see in the next one.

Thanks bye, you.