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if youre already down in the comments making fun of me you might as well subscribe while youre there my hair is going to look like this for the next few videos so lets just get it out of the way Dumb and Dumber Oliver tree number four from codename kids Next Door great now I gotta move on to todays story which is one you might have already heard about for maybe most critical or coffee Zilla because its kind of old but Im talking about it for two reasons first I was stuck in a glass box so I couldnt talk about it and I wanted to and second theres been a few updates some apologies from not just I show speed but also the creator of the coin the coin being Paradox metaverse now were going to get into a little bit of whether or not this is a scam or someone making a genuine effort of making a web three product uh but I think coffeezilla goes much more in depth and will do a much better explanation of what the coin is and and then you can for yourself decide if you think its a scam or not but but Ill get to that in a little bit for some background I show speed when on stream promoting this coin with a fake Cristiano Ronaldo impersonator and 25 ps5s he was going to give away but that got a little they got a little bit weird they were like this is this is a scam scam scam scam and they were spamming that and they were also donating with text-to-speech saying it was a scam which got the people who created the coin a little bit anxious apparently they got some calls from higher ups big investors who said why are people calling this thing a scam Ive given you money this should not be a thing so speed muted or so he thought and then this happened all right so look its cool now you know what Im doing bro which isnt the greatest thing to hear in that muted session now I will say some speed fans have just jumped into the deep end of dick riding saying kind of feels like he left the audio on on purpose which which that it okay fair enough uh but anyway lets move on to how this stream even started and it started with basically a few tick tocks that went super viral and some tweets from speed saying he met Cristiano Ronaldo so its him and then pans over uh oh Cristiano Ronaldo with a somewhat blank looking Manchester United Jersey which that didnt date so well this video got 52 million views it was a big deal and then he was hyping up that he was going to stream with Ronaldo and I think this photo op in in videos and tick tocks were taken before the stream but this is what happened on the stream anyway now the whole idea was the Paradox people the founders got Cristiano Ronaldo and they were going to show this big surprise to speed if he was able to reach 2 000 followers for their account which which the viewers did and theyre like heres the surprise and hey its Ronaldo but obviously this was a bit of a joke and chat caught on very quickly that this is not Cristiano Ronaldo its like Christopher Ronald McDonald and speed in this sketch found out he wasnt crushing on although by asking him to juggle the soccer ball do something like just do something like this to which he rages in hilarious fashion and breaks his TV and a PS5 the PS5 is probably fine but but yeah that that was that uh and and so thats thats what the stream was and it was basically trying to create some hype around what was promoting a crypto which isnt the the hottest thing to do in the streaming world I mean there are very real and genuine actors in The crypto space who are trying to create web 3 Innovations which is a sentence that I feel like killing myself when I say out loud but but there are so many bad faith actors that even saying the word crypto nft web 3 immediately turn off 95 of people 99 if you are in the gaming world uh and before we jump to the next I have to tell you about our sponsor of todays video which is me again hows it going its the chess boxing championship look its coming up its coming up December 11th is only three weeks away and if you want to take it do I have a deal for you its code level click at checkout if you go to you type in code Ludwig you get 10 off I call that a Black Friday deal round where Im from anyway thats all I have to say about that I hope to see you there itll be fun we just got a womens card and and there will be many surprises like Cristiano Ronaldo or an impersonator that Ill hire anyway heres the question is it a scam because if hes just promoting a crypto then thats not that big of a deal I mean some people certainly hate the idea of crypto but it is not in itself an evil it is just mostly used by bad faith actors for evil or just making Mass amounts of money well Ill let the founders take this one for me great advertising 10x to 100x is that a get rich quick scheme yes or no no okay now shh thats that kind of speaks for itself this is coffee Zilla talking to the two Founders uh and and anything thats promising 10x or 100x is a scam I mean of course it is any like get rich quick scheme or anything like that any path that seems like a shortcut in life is is always too good to be true its just not its just not how things work its just not how things work unless you feel like greater fool theory is something that you want to make money on if you want to make money because youve just duped someone else into buying something that they shouldnt have for more money than they should have then maybe maybe but but I you know this kind of speaks for itself in a lot of ways uh and there was a whole apology video from the creators of the coin uh after this this entire drama blew up that they posted on their Channel yesterday uh and look go no further than me finding out this guy also has a uh get rich class that he sells where he click baited a video called No click bait about how someone stole his six hundred thousand dollar hurricane and and here you can get this class and thats how you get rich look look this is the people that we are dealing with here uh but but he did an apology video and just the intro alone shows how dishonest they are willing to be I wanted to make this stream as entertaining as possible as you can see we succeeded as you can see from the screenshots we had a 92.3 success rate of people liking the Stream yeah you had a 92.3 success rate where the normal is 98.6 thats bad that was a bad thing to show theyre basically trying to say it wasnt a scam because people actually like the stream and that everybody who called it a scam was actually a bot and the reason we can tell it was a bot is because theres huge spikes in chatter uh growth and viewership during those periods and then because people saw the bot spamming scam they believed it was scam like the Sheep they are because cancel culture and liberals which which seems like a pretty roundabout thing to say look the reason I think its a scam is because of the promises given right I dont think this is a rug pull because the founders are locked out from selling their coins so they cant even rug pull I think its an attempt at making long-term money by promising people theyll get 10x 100x returns so put all your money into it so then a year from now theyll have a multi-multi-multi-million dollar project but the problem is youre not going to get those returns and hes even lying in this apology video about how you still will no evidence if we was a scam why would we still be here if it was a rug pull why would the price not go down we are up 600 percent on the first five minutes of launch okay I dont really think Cherry Picked stats are worth talking about so lets talk about the big picture which is the Paradox metaverse price now this wasnt a super purchased coin so maybe good for I show speed only 1.3 percent of the total pool was actually purchased but the the coin if you bought it before a pre-launch at pre-sale the Ido before it was publicly available was listed for three cents and its now worth about six cents seven cents which would make you think oh youve doubled your money well not exactly that was only for people in the pre-sale people who bought it as it initially came out purchased it for a price of uh lets see here 11 cents and its gone down to seven sets so it is down on the initial launch if you were part of the main wave but maybe youre thinking to yourself well Ludwig what if you got the pre-sale then youre making money not really not really because the way that works is that you only get 20 of the amount of money you put in on the token generation event thats what tge stands for Im sad I know this but I do know this and then theres a two-month Cliff which basically means you have to wait two months and then youll get five percent vested AKA youll get five percent of the amount of money you put in in tokens every single month so itll take about what 16 18 months total to get all of the money youve invested in tokens if youre part of the initial sale and Im willing to make a bet 18 months from now the price of this coin will be less than the ideal Im willing to make that bet if the founder sees this and wants to take the bet with me lets do it you know lets just lets just put lets put 100 bucks on it lets put a rack on it Im down because I think theres no universe that anybody is going to be making money on this idea because its too big in scope theyre trying to create a crypto theyre trying to create a production company theyre trying to create a pay to earn game with a game that looks kind of like Saints Row but but but its all but its oh its its all not its all not its all not its its its too big in scope and and it will fail as they do uh so so I do think they are scamming in that they are over promising things I dont think theyre scamming in the way that a lot of other influencers have scammed by rug polling and immediately having a high spike in price and then trying to profit immediately I think this is a longer term scam of trying to get people to believe their idea that only works if people believe in their idea anyway uh lets talk about speed now who is the other person in this did he scam did did he know better now to clarify speed is a 17 year old kid which is a crazy fact to me and I actually like speed a lot I know a lot of people will say loud equals funny hes only entertaining for kids but I think also people give kids a hard time people give teens a hard time one of the biggest insults I always see is all your audience is just 14 16 whatever those are the people who make culture those are the people who made Elvis Presley famous theyre the people who made The Beatles famous theyre the people who made BTS famous theyre the people who will shape our world in the future so its just like I to me crotchety old man to wave your hand being like I cant believe these kids like that that well that is thats thats what the people like thats whats hip thats whats new and so I like speed but I also think hes 17 and hes doing some dumb things and he has a much bigger responsibility than most 17 year olds who are allowed to be dumb ass 17 year olds that you know [ __ ] up hes not hes not allowed to [ __ ] up as much he has an audience of over 10 million people youre just not allowed to [ __ ] up when you have that many eyeballs on you now this entire project is backed by a billionaire so I dont know exactly what was promised to speed whether it was money or maybe access to go to the World Cup or maybe to actually meet Cristiano Ronaldo and this was like the lead up hype I think it was probably something that he didnt feel like he had access to by himself and he probably just believed the The Good Will of the people but its his job to do the due diligence of researching the product you promote to your viewers and I think the only thing he actually cared about was making sure the stream even though was a huge promo sellout for the coin I mean it was on the back [ __ ] wall it was on their shirts it was cringily inserted into the stream the deliverables were absurd he had a tweet that he that he shielded the coin out for I think he is the due diligence of making sure that it isnt something fishy that on the side the people that hes working with arent saying this is about to 10x your viewers money and I dont think he did any any of that thats what you have to do as a creator that is your job look I was offered for the chess boxing event a gambling sponsorship I I was and it was something that I honestly am not too against it was like basically to do Sports bets prop bets for certain matchups like hey who do you think will get a knockout will it be disguised toast or abroad in Japan you could put money and win money for it and I Im I like doing those kind of bets but this will also be the event that has the most viewers Ive ever had why would I use the biggest voice I have to promote the worst thing that Im a fan of so I said no also because I dont want to deal with the 13 train wreck DMS if I did it but I said no and theres a lot of times where I look around and theres a lot of times where I ask the people in my life to review these things for me like just yesterday I asked stance if he thought a sponsor that wanted to work with me was chill because I trust his moral compass and sometimes mine can be a little bit jaded its about having people around you that you can trust that you can honestly ask hey am I doing something [ __ ] dumb because if youre stuck in an echo chamber or Worse youre only stuck with people who care about making money so theyre just gonna try to convince you to do whatever makes them money even if it makes you money too thats not always a good thing now speeds apologies I think left a little something to be desired this was his first one talking about it I made a mistake you know Im not that smart Im be honest bro but as I go I get smarter and smarter bro I made a little mistake you know that I wish I never did but Im not a scammer bro a day of my life I would never scam you guys just remember that bro in a day of my life I care about you guys so freaking much bro I love yall so much bro you can ask anybody in my family who do they who do I love the most I love Speed game the most okay and then this was the second one because people kept spamming scammer in his chat its pissing me off bro I dont even want but I only want I dont even like streaming no more bro its all these film now bro I dont even like streaming no more like every like every comment is that bro literally every comment Im not bro Im not talking about it its so annoying bro hey and thats the worst thing thats gonna come out of this for Speed is that he has lost a fraction of his fan base because they now think hes a scammer and thats thats his fault thats like the what he you you reap what you sow that is the punishment for promoting something that he did not do the due diligence of checking beforehand yeah hes 17. Yahoo [ __ ] up Yahoo make mistakes but what are the consequences for those mistakes theyre a lot bigger in scale the same way the harm from those mistakes are a lot bigger in scale too so I think its like a good correction this is the natural course of things people get mad at you for doing a thing hes never gonna [ __ ] do it again I guarantee that because I know hes [ __ ] miserable having to deal with a chat calling him a scammer every day hes gonna get one guide for the next month until hopefully it blows over by then and he can try to move on but but speed this is your wake-up call and make sure you got people in your life thats the most important thing you can have as a Creator who often get a little too hung up in their own world when its a tiny [ __ ] world in comparison to the entire one that we all get to live in anyway thank you all for watching thats all I got hopefully that was a little more context added to it if you didnt hear about it then hopefully I I was I was able to Enlighten you all right thank you goodbye stop making fun of my haircut goodbye see you later stop making fun of me please COME SEE ME LIVE ► follow me on twitter ► follow me on tiktok ► follow me on instagram ► join my subreddit ► LINK TO EVERYTHING ► edited by: ludwig hes my editor mogulmail ishowspeed cribtoe ishowspeed,mogulmail,