Transcript
Hello, friends, and good evening. It is Thursday evening, October 19, and my alert just went out a few hours ago and when I had originally written about ZenCash it was $7, and before we even put out the alert it started moving higher and then when we put out the alert, it just skyrocketed. It got to as high as $29 and right now it’s trending around $22. So, I want to explain what we found out as to why it started moving before we even put out our alert. I want to tell you the steps that we’re taking to prevent that and then I also want to, most importantly, tell you to please do not chase ZenCash.
You know that in the report I suggested that you put on a half-size position, wait for a pullback and then put on the other half. So right now, what you have is a lot of fast and quite frankly very dumb money coming into this idea without really knowing why they’re going into the idea. The reason why I call this money “dumb money” is because a rumor was started last night on the internet that I was going to recommend a very small privacy coin. What you saw were a half of dozen different privacy coins just start skyrocketing last night out of nowhere. Now all of those coins, once they found out I wasn’t recommending them, they all dumped today, they’re down 30, 40, 5%, they’re down huge. So, anybody that traded off this idea that Teeka’s going to recommend this coin got left holding the bag.
The other thing that they were doing that I noticed, I was looking at these different boards where this stuff was coming up, was they were taking my picture and Photoshopping it on to a report that looked like it came from Palm Beach and they were using it to shill or pump, if you will, their coins. They were writing, “Teeka loves X, Y, Z coin” or you know, they were trying to write in my voice using terrible spelling and passing off these different screenshots as if I had written them. So, you know if you come across work that people are saying is my work and you didn’t get it off Palm Beach and it wasn’t emailed to you, it is not my work. Okay so this is the advantage of being a member. When my work goes out, you know it’s my work.
The other thing that they’re doing is that they’re copying my work and then they’re manipulating the price. They’re changing the buy-up-to’s and they’re making the buy-up-to’s much higher than what I have put in the report. So again, as a member you get to see what my actual buy-up-to is and what my buying strategy is. I’ve noticed that in this most recent leak, they completely removed the section where I said, “Just take a half position now and on the first 50% pullback, take the second half.” And the reason why they’ve done that is that they’re trying to manipulate the price of the coin higher so they can take advantage of that and then of course, sell the coin and then run off and do that with somebody else.
I can’t tell you how just frustrating this is for me and for my team to put in this kind of work, to travel as much as I do, and then just have this stuff just get ripped off by these criminals. I hate it. So okay let me explain to you why and how this happened. So about three weeks ago I met Rob Viglione, one of the founders of ZenCash, in Aspen and we talked a little bit. I heard him speak and then I followed up with an actual interview with him. And at the time I said, “You know this is, I really like this project, this is a really interesting project.” I didn’t tell him I was going to actually write a report on it, but I mean he could clearly tell that I was enthusiastic about it.
And so, every other week they do this kind of a State of the Nation report over at ZenCash, which is one of the things that I like, they really communicate with their community. This was about two weeks ago he mentioned that he had met me and he mentioned that we had had this interview process, that we talked for about an hour and that he said that I was going to write them up. Now I said that I liked the project a lot. I didn’t say that I was going to write it up. I think kind of Rob read that into it, but I was very enthusiastic.
Now that came out two weeks ago and it didn’t affect the price of ZenCash at all. There was nothing moving there. And then earlier I took some profits on Monero for us and then I said, “Hey you know I’m taking some profits on Monero because I found another idea that I think could ultimately unseat Monero. It’s a very small privacy coin.” Right so this very innocent comment from me keeping you, my subscriber, up to date with what I’m doing and why I’m doing it and what I’m looking at.
So, what happened was that comment, somebody had gotten a hold of my update video, posted it, and then somebody else had listened to the ZenCash update from two, three weeks ago and then put the two of them together. Then they started writing about it all over the internet saying, “Well you know Tiwari is going to recommend ZenCash.” Then along with this, there were dozens of others that we saying, “No, it’s not ZenCash. It’s this coin or it’s that coin, it’s this coin,” so all those coins went up. Then when we actually did put out a buy recommendation on ZenCash it was just [snaps fingers] you know, there was just no way to get in, it just absolutely exploded up.
So, here’s some of the key takeaways. When I speak to a management team or developers or you know folks in charge for projects, I’m going to insist that they don’t tell anybody that I’m talking to them. The other thing that I’ll do is you know, probably I’m a bit too open so I think I’m going to just have to play my cards a little closer to my chest and you know, if I really like the project, I’m going to have to not convey that, right, I’m going to have to be a bit more poker-faced and that’s tough for me. I get excited about an idea and you know it’s exciting. So, you know that’s something I’m going to have to work on and just be a bit more poker-faced.
The other thing is I can’t really talk about new ideas that I’m researching or new ideas that I’m going to bring to you. I mean I can’t even—I thought I was being pretty vague, but apparently not. So, you know, I apologize for that that I can’t keep you in the loop on that beforehand. But I think this will go a long way to making sure that other people aren’t getting the jump on us before we actually publish our reports.
So again, I also want you to know that we’re doing everything we can to plug these leaks. It is difficult to track them all down, but I think by again instituting some of these different controls in place, we can at least have a shot at getting into these ideas versus today where there was just no shot. You know the thing just went vertical.
So, in closing I will tell you to remember what I always say right, let the game to you, okay? There’s a lot of fast money in ZenCash right now, a lot of dumb money in ZenCash, a lot of uninformed money in ZenCash and it will burn itself out, okay? I’ve seen this a hundred times. So, let it burn itself out, do not chase ZenCash. Stick to our buy-up-to, buy half of it below the buy-up-to, wait for a 50% pullback, and then buy the other half, okay?
We have been in this game long enough to know that volatility hits everything, and our job is to make volatility our friend, okay? Don’t feed into that volatility and don’t be paying $29 for ZenCash. This is absolutely too early in the game for that. So again, be rational. You know the coin price is going to do whatever the coin price wants to. I’m very confident you’ll be able to get into the coin under $20. I’m very confident that while we own it, that at some point, it will have a 50% pullback. Maybe it will go to $50 first and then to $25, maybe it will go to $35 and then in half from there, or maybe it will just go straight in half from where we are right now.
You know on a day-to-day basis these things are virtually impossible to call and that’s why I don’t even try to do that. What I try to do is look for ideas and people that are solving massive problems, and they are doing it in a way that I think could lead to massive adoption and ZenCash certainly fulfills that. And I think it could be really one of the most popular privacy coins out there. But it won’t get to this billion to $2 billion level in a straight line. None of the coins ever do.
You look at any of my winners, none of them got there in a straight line, okay? It was a lot of this, a lot of zigzagging, a lot of fear, a lot of, “Oh my goodness, did we make a bad decision?”
So just remember be rational, use good position sizing, don’t chase, and always remember: Let the Game Come to You!