1 00:00:00,000 --> 00:00:07,560 Okay, it is two o'clock. Now anyone watching the recording or listening to 2 00:00:07,560 --> 00:00:12,040 the recording just probably it's better if you just skip like 15 minutes in 3 00:00:12,040 --> 00:00:16,700 because the way these normally go is they sort of are slow at the beginning 4 00:00:16,700 --> 00:00:20,059 because we have to wait for people to join but then they get really good so I 5 00:00:20,059 --> 00:00:25,639 would just skip like 10 or 15 minutes in but I also have my thread now where if 6 00:00:25,639 --> 00:00:31,459 we made a thread of things where people want something to be brought up they can 7 00:00:31,459 --> 00:00:36,080 add it to the thread and that's what I did and at the bottom I actually posted 8 00:00:36,080 --> 00:00:44,240 the link to the next space which will be at 2 on Tuesday so next week it will be 9 00:00:44,240 --> 00:00:49,759 on a different day. So I'm just gonna go through my list of things of the week 10 00:00:49,759 --> 00:00:55,480 while people join in and hopefully last time we had Justin Bonds who was great 11 00:00:55,480 --> 00:01:00,880 he's a Bitcoin Cash Solana guy and we talked about all kinds of cool stuff so 12 00:01:00,880 --> 00:01:06,519 hopefully we'll get some cool people today as always we want any any haters 13 00:01:06,519 --> 00:01:11,400 or anyone who really just has some strong opinion about whatever they're 14 00:01:11,400 --> 00:01:15,680 welcome to join but so first on my list is okay the bug hunt too so remember 15 00:01:15,680 --> 00:01:23,000 we're giving away $100,000 over this summer people to find bugs and we had 16 00:01:23,000 --> 00:01:28,800 the first one was two weeks long and that one ended 11 people entered now the 17 00:01:28,800 --> 00:01:37,040 second one just ended and in fact 10 people entered so that's great and so 18 00:01:37,040 --> 00:01:42,160 you want to check the for information about that you in general you kind of 19 00:01:42,160 --> 00:01:46,720 want to hang out telegram is good for us you go to t.me slash DC insiders or 20 00:01:46,720 --> 00:01:51,760 you can get me on on Twitter you can ask about the bug hunt but we've got some 21 00:01:51,760 --> 00:01:57,559 really really good people entering and they're just very skilled so they're 22 00:01:57,559 --> 00:02:03,639 gonna win first second third place and it's gonna be hard for other people to 23 00:02:03,919 --> 00:02:11,520 compete because they're just they're just that good but the point is the 24 00:02:11,520 --> 00:02:20,320 second bug hunt ended now there's new brand new mobile app that is the the 25 00:02:20,320 --> 00:02:28,039 next app oh let me see if I can do this okay it's inviting people to co-host or 26 00:02:28,039 --> 00:02:35,199 speak because that will help the space survive but the we have a new mobile app 27 00:02:35,199 --> 00:02:40,520 which is gonna be really good eCash.com mobile app and again the easiest way to 28 00:02:40,520 --> 00:02:47,399 get it is through the telegram group and it's you know you can match the 29 00:02:47,399 --> 00:02:51,320 eCash.com site so that will also be a great way to get messages because okay 30 00:02:51,320 --> 00:02:58,639 this is on my list of the things I'll skip ahead which is we are in a we live 31 00:02:58,639 --> 00:03:02,080 in a zone where like people being deep platform from Twitter because you can 32 00:03:02,080 --> 00:03:06,919 just get like a bot you know you have a bunch of people you can rent these bots 33 00:03:07,039 --> 00:03:11,600 for like $1 account so I hear but then they just mass report someone and they 34 00:03:11,600 --> 00:03:14,800 just get kicked off of Twitter so this happened to Cato the 35 00:03:14,800 --> 00:03:23,320 elder 17 is a friend of hunter beast the author of the the basic quantum bit 360 36 00:03:23,320 --> 00:03:29,919 and he apparently was saying some stuff about like how sailors doing all this 37 00:03:29,919 --> 00:03:36,600 like creepy stuff behind the scenes and then he got banned who knows but yeah 38 00:03:36,600 --> 00:03:40,559 then also a nifty got a let's see nifty got banned right and if do you does 39 00:03:40,559 --> 00:03:46,679 Bitcoin plus plus she's great she got banned from whatsapp not from 40 00:03:46,679 --> 00:03:52,479 Twitter but she she was just talking to someone in Kenya and they just 41 00:03:52,479 --> 00:03:56,240 immediately permanently banned you I guess so that's too bad 42 00:03:56,240 --> 00:04:00,839 so it's remind me of a funny story once that a long time ago that Roger Ver told 43 00:04:00,839 --> 00:04:05,440 me about oh you know he ran this company memory dealers that sold like optical 44 00:04:05,440 --> 00:04:09,720 networking equipment and there was some guy who was like from Nigeria and he was 45 00:04:09,720 --> 00:04:14,679 like listen I'll pay in advance I'm from Nigeria but I'm real this isn't like a 46 00:04:14,679 --> 00:04:19,079 Nigerian Prince scam because those were very popular at the time but anyway we 47 00:04:19,079 --> 00:04:24,119 live in a you know a world where your account gets suspended and this ties 48 00:04:24,119 --> 00:04:29,839 into something we did talk about previously about BitNames about bit 49 00:04:29,839 --> 00:04:33,000 names changing everything's around so that you own the name and then the 50 00:04:33,000 --> 00:04:38,160 account is just something you point to and that way you cannot get the platform 51 00:04:38,160 --> 00:04:41,760 but it is kind of weird how Twitter they never like let you get your final say 52 00:04:41,760 --> 00:04:46,079 like the account just disappears it would really be better if they were just 53 00:04:46,079 --> 00:04:51,320 like this account will be deleted in seven days or something like that so 54 00:04:51,320 --> 00:04:59,079 that's a bizarre thing that the account just gets banned and then the the 55 00:04:59,079 --> 00:05:01,600 account gets banned and you never hear from them again and they can't even post 56 00:05:01,600 --> 00:05:10,040 like they can't even be like oh I'm gonna be banned at seven days you never 57 00:05:10,040 --> 00:05:12,959 get to hear anything so yeah I invited hunter up here you just saw him join I 58 00:05:12,959 --> 00:05:19,760 was just bringing up Cato the elder 17 and I was just commenting on how none of 59 00:05:19,760 --> 00:05:24,959 us have like a property right to our accounts and they can all of us are just 60 00:05:24,959 --> 00:05:31,760 basically like impoverished slaves to the the server and we can everything 61 00:05:31,760 --> 00:05:41,160 could be taken from us at any time and how bizarre that is yeah do you want to 62 00:05:41,160 --> 00:05:47,239 add any details on okay he was he was going to say like some he had like it's 63 00:05:47,239 --> 00:05:51,559 some here like a thread of interesting stuff he was going to that he was in the 64 00:05:51,559 --> 00:05:57,640 middle of saying yeah he did he did actually eventually published that to a 65 00:05:57,640 --> 00:06:04,920 median post and I think in that to the faster yeah okay that's good because of 66 00:06:04,920 --> 00:06:10,720 course if someone really doesn't want something to get out that's usually kind 67 00:06:10,720 --> 00:06:14,000 of a good sign that there's something 68 00:06:14,880 --> 00:06:19,359 something very important they've been trying to say social signal right when 69 00:06:19,359 --> 00:06:24,160 they try to use coercion to like shut down what you're trying to say it's like 70 00:06:24,160 --> 00:06:29,600 almost rise in effect right yeah means they really care about it for some 71 00:06:29,600 --> 00:06:35,760 reason so oh I have my fury about it sorry for interrupting but basically 72 00:06:35,760 --> 00:06:42,040 when your company stock is plunging wouldn't it be very convenient if 73 00:06:42,040 --> 00:06:46,200 there's rumors that you're tied with the US intelligence and basically you seem 74 00:06:46,200 --> 00:06:51,200 like you're too big to fail like it sort of discourages people from 75 00:06:51,200 --> 00:06:54,679 shorting the stock because they're gonna think that they're competing with the 76 00:06:54,679 --> 00:07:03,720 money printer so wait you're saying that Kato the elder is pushing like start to 77 00:07:03,720 --> 00:07:08,200 because you like trying to draw an association to my CEO or something like 78 00:07:08,200 --> 00:07:13,000 the students to like boost their stock what's funny about that is like I mean 79 00:07:13,000 --> 00:07:17,640 that's that's a nice there's some layers to that conspiracy theory doesn't 80 00:07:17,640 --> 00:07:23,720 really explain well why he was talking about what Kato was targeting in 81 00:07:23,720 --> 00:07:26,239 particular 82 00:07:26,359 --> 00:07:30,119 yeah a lot of these conspiracy theories the problem that there's like a reverse 83 00:07:30,119 --> 00:07:36,239 reverse like intent in there and you can never like exactly figure out you know 84 00:07:36,239 --> 00:07:41,359 oh they plan to sabotage their own person so that they'll get more sympathy 85 00:07:41,359 --> 00:07:46,480 and you're kind of like oh that's it doesn't sound very well thought out but 86 00:07:46,480 --> 00:07:51,399 Vlad what do you think I think it makes them look very good even though people 87 00:07:51,399 --> 00:07:54,519 are gonna hate them and be like oh they're with the US intelligence 88 00:07:54,519 --> 00:08:01,000 whatever it does send a signal to the actual investors who might just get this 89 00:08:01,000 --> 00:08:07,079 idea well they have this shadow board where they have XCIA people who have 90 00:08:07,079 --> 00:08:12,640 been working there for 20 30 years or whatever and also Kato the elder said 91 00:08:12,640 --> 00:08:18,640 something like maybe that strategy is the strategic Bitcoin reserve of the 92 00:08:18,640 --> 00:08:24,920 United States so this idea alone is powerful enough to make it look like 93 00:08:24,920 --> 00:08:30,440 MSTR is too big to fail well and I think that's the game plan well you know 94 00:08:30,440 --> 00:08:35,479 honestly I think that's not like a conspiracy theory more like what's 95 00:08:35,960 --> 00:08:42,000 that like strategy is accumulating a bunch of Bitcoin and they're probably 96 00:08:42,000 --> 00:08:46,599 working with the feds and they want to have a plan B in case the dollar fails 97 00:08:46,599 --> 00:08:49,719 because everyone 98 00:08:52,000 --> 00:08:56,159 they seem to be failing I mean they seem to be dragging the whole space down I 99 00:08:56,159 --> 00:09:00,280 mean because I you would you could assume I think it's very silly to 100 00:09:00,280 --> 00:09:04,280 comment on the price but you know the price has been down and I think it's not 101 00:09:04,280 --> 00:09:10,320 that far-fetched to say well hey micro strategy might be forced or tempted to 102 00:09:10,320 --> 00:09:14,440 sell because they're in some kind of they're in a slight financial distress 103 00:09:14,440 --> 00:09:18,880 and so since everyone knows that they're gonna have to sell why would any you 104 00:09:18,880 --> 00:09:22,559 know everyone would wait to buy it doesn't matter what you think about the 105 00:09:22,559 --> 00:09:26,320 long run price you think if you think the price of bitcoins going up you think 106 00:09:26,320 --> 00:09:30,440 well I'd rather get it at a lower price so I think this is one of those rare 107 00:09:30,440 --> 00:09:34,599 rare cases where the price you really can't expect the price to kind of go 108 00:09:34,599 --> 00:09:38,760 down if we want the price to go down lower we should totally dial up the 109 00:09:38,760 --> 00:09:43,640 point of flood by the way oh yeah draw attention to that there are multiple 110 00:09:43,640 --> 00:09:52,359 Bitcoin for some sent active as well yeah well there will be I heard there 111 00:09:52,359 --> 00:09:58,200 would be it would be a lot more because there was some quantum news about the 112 00:09:58,200 --> 00:10:02,440 like the government put out this thing saying everyone has to accelerate their 113 00:10:02,440 --> 00:10:08,679 timelines or something and then Nick Carter tweeted it so I saw probably be 114 00:10:08,679 --> 00:10:14,440 raising money on that narrative by the way just you know it's depressing to me 115 00:10:14,440 --> 00:10:18,599 it's like someone who deeply distrusts the state but I'm just probably gonna 116 00:10:18,599 --> 00:10:23,520 find out that like government the government policy is pointing to where 117 00:10:23,520 --> 00:10:30,400 it's accelerating we're just going to do everything 118 00:10:31,119 --> 00:10:37,440 where everybody says we we need to be you know it'd be really nice to put that 119 00:10:37,440 --> 00:10:42,479 foot to rest by the way I sent you an email yesterday I don't know if you heard or saw 120 00:10:42,479 --> 00:10:48,719 I don't know if I have your latest email address I will look it up because but email is 121 00:10:48,719 --> 00:10:55,679 rough for me I don't even know oh yeah telegram and Twitter are better for me but I will look 122 00:10:55,679 --> 00:11:00,479 I will dig out the email I will look for it okay thank you 123 00:11:02,320 --> 00:11:09,679 okay so we don't want any more people's accounts being suspended and relatedly 124 00:11:10,799 --> 00:11:15,840 okay so I didn't get to fully announce this but I had a this thing for as far as 125 00:11:15,840 --> 00:11:23,119 free samurai is concerned I had this I have this like strategy basically so I was going to 126 00:11:23,119 --> 00:11:26,479 publish the strategy and I got actually some funding for it so there's going to be like a 127 00:11:26,479 --> 00:11:32,559 whole second contest but I don't want to it's a shame because I really thought it'd be done by now 128 00:11:32,559 --> 00:11:41,200 but you know just life gets in the way it's very hard but it's basically like a kind of plan 129 00:11:42,159 --> 00:11:45,599 and so I don't know if anyone will like this plan maybe they'll all just hate it but 130 00:11:46,799 --> 00:11:53,919 I think it's an improvement over what we currently have which is not working so yeah 131 00:11:53,919 --> 00:12:00,400 it's great that we have people with the free samurai tweets but we've been going for a while 132 00:12:01,039 --> 00:12:06,320 I think there's no reason why we can't get the pardon for samurai and also for like a whole 133 00:12:06,320 --> 00:12:12,640 bunch of other people so I'm going to try to publish my the thrust of my document that I'm 134 00:12:12,640 --> 00:12:17,440 going to publish in the strategy is that what we need to do first is we need to have you know 135 00:12:17,440 --> 00:12:24,320 someone or ideally multiple people and then I'll pay for this also we have funding in the 136 00:12:25,119 --> 00:12:30,400 in the strategy but it's like yeah we need to like basically make it as easy as possible for 137 00:12:30,400 --> 00:12:35,679 like Trump's staff so we need to have this whole document that's like as a structure and this 138 00:12:35,679 --> 00:12:42,799 organization this whole like pdf like data room thing like set up so that they can tell with like 139 00:12:43,520 --> 00:12:52,000 who's voting for what what are the facts of the case what are the narratives so um that's like 140 00:12:52,000 --> 00:12:56,799 my plan so to make it so that if one Trump staff member looks at it for five minutes they'll think 141 00:12:56,799 --> 00:13:01,520 oh okay this is a winning issue for Trump it'll get more voters there won't be a lot of pushback 142 00:13:01,919 --> 00:13:08,159 we can get a photo op with whoever I mean it depends I'll volunteer for the photo op but yeah 143 00:13:08,159 --> 00:13:12,479 ideally we'd get like whatever Brian Armstrong or whatever these people that don't to to donate 144 00:13:12,479 --> 00:13:18,239 the photo op or I don't know if they would I have no idea that's just an example but my guess is we 145 00:13:18,239 --> 00:13:24,799 could get some people together you know we could get like an atom back or something or whatever it 146 00:13:24,799 --> 00:13:29,679 is whoever it is we get them all together and we say we can get Trump this photo op we can get 147 00:13:29,679 --> 00:13:34,159 we can say nice things or these are the voters this is the voting situation this is the 148 00:13:34,159 --> 00:13:41,599 fundraising situation so so that's my idea is to flip get prepare first and then just 149 00:13:42,479 --> 00:13:50,400 make it look so that it is clearly a winning issue for whichever party picks it up 150 00:13:51,440 --> 00:13:54,719 but ideally Trump so that we could just get it out of the way before November 151 00:13:55,679 --> 00:14:00,159 because they will be nervous with the midterm election cycle 152 00:14:02,880 --> 00:14:08,880 Trump wants to continue governing by a executive order so that's so I didn't get to finish it in 153 00:14:08,880 --> 00:14:14,400 time I really wish that I had and then I hate putting stuff out on the weekend in the summer 154 00:14:14,400 --> 00:14:20,799 because I feel like no one will ever see it which is that doesn't really bother me but I just feel 155 00:14:20,799 --> 00:14:26,000 like I also I would be like I wouldn't read anything in the you know in the summer and the 156 00:14:26,000 --> 00:14:29,520 weekend I'm not really paying attention to this so I just kind of think it's a little bit of a 157 00:14:29,520 --> 00:14:35,039 lack of integrity for me to like you know we should all just be having fun in the summer in 158 00:14:35,039 --> 00:14:42,000 my opinion my humble opinion so maybe next Monday it's really a shame that I didn't get it out in 159 00:14:42,000 --> 00:14:47,440 time but that's that's what I was thinking for free samurai so I don't know if but no one can 160 00:14:47,440 --> 00:14:53,840 really comment on it because I didn't finish it so sorry about that next thing on the list there 161 00:14:53,840 --> 00:15:01,200 is this okay there's this old clip and this was like buried you couldn't find this after it came 162 00:15:01,200 --> 00:15:08,640 out I think like you know Saylor or whoever but there's an old clip of um safety and amuse like 163 00:15:08,640 --> 00:15:14,320 versus Michael Saylor kind of and yeah and Saylor has this clip where he's talking about getting 164 00:15:15,280 --> 00:15:19,280 say I was like oh you know how safe would you like to get five percent on your bitcoin 165 00:15:20,159 --> 00:15:25,440 and then safety and is like you know safety is like much smarter than Saylor which is because 166 00:15:25,440 --> 00:15:30,799 I don't I'm not really a big fan of um safety and amuse and the feeling is mutual as far as I can 167 00:15:30,799 --> 00:15:36,799 tell um but he's just like well he's talking to Michael Saylor he's like I'd like to get a million 168 00:15:36,799 --> 00:15:42,559 percent on hype or something like that and this is just a it's just a really funny clip because it 169 00:15:42,559 --> 00:15:47,200 was it was years ago it was a long time ago and yeah it was like where this is right after 170 00:15:48,559 --> 00:15:51,840 people were done like where where does the yield come from like all the whole 171 00:15:52,559 --> 00:15:59,119 Luna etc all this stuff had like collapsed and I just brought it up because I was talking about it 172 00:15:59,679 --> 00:16:05,919 because now everyone's talking about how this is funny because also the timing it's all related to 173 00:16:05,919 --> 00:16:12,239 Saylor and it's all related to um you know before I had started criticizing Saylor and I said oh we 174 00:16:12,239 --> 00:16:15,840 should you know we can give like a five thousand dollar bounty to anyone who explains to Michael 175 00:16:15,840 --> 00:16:20,000 Saylor what a soft fork is and how it like actually solves all his problems and it gives him 176 00:16:20,000 --> 00:16:25,440 ossification that he wants he thinks he wants no soft forks but that's actually not a great way to 177 00:16:25,440 --> 00:16:30,719 get but then ever since all this has happened now there's been a huge pile on and then all these 178 00:16:30,719 --> 00:16:37,359 people are I even saw Pleditor was saying like oh now too many people are criticizing Michael 179 00:16:37,359 --> 00:16:41,280 Saylor these are all just like jumping on the bandwagon you know why didn't they criticize 180 00:16:41,280 --> 00:16:46,799 for the last two years so this is kind of a funny just a little effect but someone could 181 00:16:46,799 --> 00:16:51,599 look up that clip if they can find it it's like really buried it may have been suppressed 182 00:16:51,599 --> 00:17:00,960 through clever techniques um but it's a very funny clip and I think in people would people 183 00:17:00,960 --> 00:17:07,280 enjoy hearing it um it's just Michael Saylor trying to explain that you can get a free five 184 00:17:07,280 --> 00:17:11,520 percent on your bitcoin safety and was trying to explain that you cannot do that because it 185 00:17:11,520 --> 00:17:17,839 doesn't make any sense also there's that saying sorry to jump in like there's that saying like 186 00:17:17,839 --> 00:17:21,839 if you don't know if you do not do not know where the yield is coming from then you're the yield 187 00:17:24,160 --> 00:17:29,359 yeah it's kind of like um these people the people who supported the treasury companies 188 00:17:29,359 --> 00:17:35,760 they don't understand like that a basic accounting principle that it's either 189 00:17:36,560 --> 00:17:42,160 if the treasury company's buying bitcoin this is something Jim Chanos pointed out many times when 190 00:17:42,160 --> 00:17:48,560 he was shorting micro strategy says micro strategy selling stock to you and buying bitcoin for 191 00:17:48,560 --> 00:17:57,839 themselves so if you think that that's a good idea then you you should be shorting micro strategy 192 00:17:57,839 --> 00:18:04,319 you know really because you want to be doing you want to be buying bitcoin and then and you want 193 00:18:04,319 --> 00:18:08,400 to be buying bitcoin you don't want to be buying the paper stock that anyone can inflate and this 194 00:18:08,400 --> 00:18:13,359 is a principle in finance this this is why you shouldn't invest you don't invest in someone who 195 00:18:13,359 --> 00:18:19,199 invests on your behalf because they have the opposite incentive to you so you should only 196 00:18:19,199 --> 00:18:23,760 invest when there's comparative advantage when you say okay listen you know Elon is going to 197 00:18:25,119 --> 00:18:30,640 through Tesla Elon is going to take in a bunch of plastic and a bunch of metal and a bunch of 198 00:18:30,640 --> 00:18:35,680 electricity and a bunch of battery parts and a bunch of cameras and he's going to build a car 199 00:18:36,319 --> 00:18:42,000 and he could do that better than me so I'll give him my I invest and then even I would purchase 200 00:18:42,000 --> 00:18:48,000 the car because I can't I'm not as good at making a car as them so this is the basic idea of 201 00:18:48,000 --> 00:18:52,400 comparative advantage and the whole reason the investment works because they are doing something 202 00:18:52,400 --> 00:18:58,880 that you can't do but I try I also I feel the same you know with with predator and everything 203 00:18:58,880 --> 00:19:02,959 I was saying this for years and everyone was like oh you are the worst person 204 00:19:04,640 --> 00:19:09,199 Paul you suck and stop talking stop bad mouthing strategy they're just buying bitcoin don't you 205 00:19:09,199 --> 00:19:12,560 think that's a good idea but it's like yeah it's because buying bitcoin is a good idea that buying 206 00:19:12,560 --> 00:19:18,319 like our strategy is not a good idea this is a basic principle of finance I totally agree like 207 00:19:18,319 --> 00:19:25,119 as a matter of fact like I think there's a big fundamental problem with strategy and uh the fact 208 00:19:25,119 --> 00:19:30,160 that Michael Saylor keeps saying that they're a bitcoin development company is just actually 209 00:19:30,160 --> 00:19:35,920 like it's just not true like they don't do anything they are just basically extracting 210 00:19:35,920 --> 00:19:42,800 from the industry and on one hand like I can give them credit because eventually they're trying to 211 00:19:42,800 --> 00:19:48,400 bring in you know institutional players they're trying to bring in people to invest but eventually 212 00:19:48,400 --> 00:19:53,199 those people are investing into strategy not investing into bitcoin and 213 00:19:53,783 --> 00:20:00,743 you know having having said that it's all those treasury companies who are just buying any asset 214 00:20:00,743 --> 00:20:05,383 whether if it's you know bitcoin or ethereum they're just putting it on the balance sheet 215 00:20:05,383 --> 00:20:10,903 but they don't have any other products or services that are actually making the company useful 216 00:20:10,903 --> 00:20:15,223 that it's making good products and services I don't think that they're going to make it 217 00:20:15,223 --> 00:20:22,823 and so when this whole big uh wave of of of treasury companies came out to be I was actually 218 00:20:22,823 --> 00:20:28,503 in touch with a with a guy who who set this up in in New York and they just basically found 219 00:20:28,503 --> 00:20:32,902 companies that they're they were listed on on stock exchanges and their products and services 220 00:20:32,902 --> 00:20:39,863 just didn't do anything right like they were like like borderline broke and they all went into this 221 00:20:39,863 --> 00:20:45,303 okay let's let's just you know transit the transition the company into a treasury company 222 00:20:45,303 --> 00:20:52,023 but you know all of those failed too because you know they didn't fundamentally try anything new 223 00:20:52,023 --> 00:20:57,062 with their current products and services and so my biggest fear with with all these treasury 224 00:20:57,062 --> 00:21:02,662 companies including strategy is that they're not doing anything and like I said they're extracting 225 00:21:02,662 --> 00:21:07,943 but they're not giving back to to bitcoin they're not giving back to the industry they're not helping 226 00:21:07,943 --> 00:21:13,702 the development they're not helping the bitcoin core developers they don't know jack shit about 227 00:21:13,702 --> 00:21:20,263 uh you know the technicalities of bitcoin um you know if you ask a sailor about any of the 228 00:21:20,263 --> 00:21:26,503 bip protocols he has absolutely no clue he has absolutely no idea um and I think like that's 229 00:21:26,503 --> 00:21:32,503 something where you know education should be more important you know to these you know billionaire 230 00:21:32,503 --> 00:21:41,783 treasury company CEOs because um they just they just don't do much I would completely agree I 231 00:21:41,783 --> 00:21:48,583 mean I would say that he has crossed the line into fraud a few times more than a few times where he 232 00:21:48,583 --> 00:21:54,742 has he said things that are not true and that he must know are not true and that are like these are 233 00:21:54,742 --> 00:22:02,183 like material uh like just there's almost like uh even if you go down the line for like specific 234 00:22:02,183 --> 00:22:06,263 lies or even specific inconsistency with things where he just completely contradicts himself like 235 00:22:06,263 --> 00:22:12,263 he's constantly saying you know is bitcoin digital credit or is it money or is it he just keeps 236 00:22:12,263 --> 00:22:19,063 changing it around where it's not it can't even possibly be true because he keeps changing it and 237 00:22:19,063 --> 00:22:23,862 he sometimes contradicts himself in the same interview and so you can't even get anything 238 00:22:23,862 --> 00:22:32,582 out of it it's baffling um it's a very much an Austrian malinvestment story where this idea is a 239 00:22:32,582 --> 00:22:37,862 fake idea but it has tricked people into thinking it's good so that has created the copycats you 240 00:22:37,862 --> 00:22:41,942 know this would be like whatever I can't even remember their name meta planet and uh 241 00:22:42,582 --> 00:22:48,823 naka and all these other copycats who are thinking oh this treasury company idea is good well actually 242 00:22:48,823 --> 00:22:56,102 it was never good and um this is like really bad news for a lot of people which is you know I you 243 00:22:56,102 --> 00:23:00,983 know I'm not happy about that but I just you have to laugh it off you have to process it some way 244 00:23:00,983 --> 00:23:07,063 which is that people have been tricked into doing this and it's actually value destroying 245 00:23:07,703 --> 00:23:11,543 there's no reason to have someone else you know chew your own food you don't have a 246 00:23:11,543 --> 00:23:14,903 comparative advantage like there's no such thing as having a comparative advantage 247 00:23:15,623 --> 00:23:19,942 in investing in bitcoin it'd be one thing if they were going to form some kind of hedge fund 248 00:23:19,942 --> 00:23:26,662 and then they have some kind of like trading angle or something none of that's true not only is my 249 00:23:26,662 --> 00:23:32,263 you know the big lie there's a bunch of small lies and then there's stuff that's just like kind 250 00:23:32,263 --> 00:23:38,102 of shameless where it's like bitcoin is hope and then the ai video with the woman who's like oh 251 00:23:38,102 --> 00:23:44,343 I'm retiring because I invented interested in stretch this is lowbrow junk but on the other 252 00:23:44,343 --> 00:23:49,783 hand there's the big the big lie is that Michael Saylor is portrayed as if he actually knows 253 00:23:49,783 --> 00:23:56,423 anything and he's on stage talking to people like he's like he'll get a great speaking slot 254 00:23:56,423 --> 00:24:00,903 and then he'll start talking about like what the greatest risk of bitcoin is as if he has the first 255 00:24:00,903 --> 00:24:04,343 clue about any of this stuff and you mentioned and don't know that he doesn't know anything 256 00:24:04,343 --> 00:24:10,103 about bitcoin development of course he's actually harming bitcoin development enormously with his 257 00:24:10,103 --> 00:24:17,463 like bizarre ignorant comments and then even there was from Matt Odell there was like a story about 258 00:24:17,463 --> 00:24:23,063 how people were funding development I don't know a lot about this but Matt Odell you know went loudly 259 00:24:23,542 --> 00:24:29,783 blew the whistle on this and you were saying that there was a deal for one of the ETF companies was 260 00:24:29,783 --> 00:24:33,542 going to like start a bitcoin so this is like micro strategies painted as a quote a bitcoin 261 00:24:33,542 --> 00:24:41,783 development company close quote but actually a third party ETF trying to do something nice 262 00:24:41,783 --> 00:24:47,302 presumably was going to fund a bunch of bitcoin development and then Michael Saylor killed this 263 00:24:47,302 --> 00:24:51,302 deal and then like basically lied about it and probably concealed about in public because of 264 00:24:51,302 --> 00:24:56,503 course he's too ashamed to take responsibility for this and so he knows that to some extent it's a 265 00:24:56,503 --> 00:25:02,742 controversial decision or a shameful decision and a lot of people went along with it and Matt Odell 266 00:25:03,383 --> 00:25:09,542 publicly so the whole thing is quite bizarre and then one of the clues that the idea doesn't 267 00:25:09,542 --> 00:25:15,943 actually work is that when Danny added from what bitcoin did Danny just started asking him more 268 00:25:16,022 --> 00:25:20,903 questions about people emulating the strategy which is exactly what you would do if it was 269 00:25:20,903 --> 00:25:28,582 truly a good idea which is like if you're the first hotel to add electricity you would want 270 00:25:29,383 --> 00:25:33,302 the other hotels would be like how does that work and you would say well it works like this you have 271 00:25:33,302 --> 00:25:39,702 the you have these you know cables and you have these electrical wires and you have sockets 272 00:25:40,663 --> 00:25:44,822 if it's really a good idea everyone should be learning about it and copying it but of course 273 00:25:44,822 --> 00:25:51,542 he had a very very defensive and angry reaction when when asked about other treasury companies 274 00:25:51,542 --> 00:25:56,982 having preferreds and of course these other companies are down you know all they're all 275 00:25:56,982 --> 00:26:04,742 going down like 99 basically which is very sad to watch but it speaks to this malinvestment of 276 00:26:04,742 --> 00:26:10,903 the whole the whole idea is not it's not a real idea i don't know we had jk come up i don't know 277 00:26:10,903 --> 00:26:16,103 if anyone if you want to talk about this or something else i got more stuff on my list 278 00:26:18,663 --> 00:26:27,943 um but we got jk up if he wants to say anything um or not either way uh i also wanted to comment 279 00:26:27,943 --> 00:26:36,982 on knots uh or 110 i just wanted to just i just had it in the you know in the list of things to 280 00:26:36,982 --> 00:26:45,943 talk about which is it's a very silly idea and i'm sorry it's a very silly idea and they don't 281 00:26:45,943 --> 00:26:50,982 even know what they want um so there's parts of it that are good about like criticizing bitcoin core 282 00:26:52,582 --> 00:26:57,623 and of course corrupt and they're lazy and they're kind of they just kind of very passive 283 00:26:58,822 --> 00:27:05,943 but the 110 people like the the 110 bit doesn't actually do anything like it doesn't prevent 284 00:27:05,943 --> 00:27:11,862 spam and they you know they have never understood about this blocks only mode like you could always 285 00:27:11,862 --> 00:27:18,982 change your own mempool that that was always allowed or just shut it off blocks only mode 286 00:27:20,422 --> 00:27:23,862 because the only thing they actually accomplish is blocking the stuff from the mempool they all 287 00:27:23,862 --> 00:27:29,223 agree that it doesn't if it's in the blockchain it'd be valid until 110 but then 110 also doesn't 288 00:27:30,022 --> 00:27:37,463 doesn't help so because there's different ways of encoding this data but then there's on top of that 289 00:27:37,463 --> 00:27:44,022 the the image the jpeg images actually spam the blockchain less than a regular transaction because 290 00:27:44,022 --> 00:27:50,903 they don't have the sig op limit so and then on top of all that even if this was a good idea which 291 00:27:50,903 --> 00:27:54,503 is not and even if the implementation would achieve the idea which is also not true 292 00:27:55,383 --> 00:28:00,022 there's absolutely there's no like evidence that anyone supports this there's just the tiniest 293 00:28:00,022 --> 00:28:08,022 amount of signaling less than one percent and from what i could gather the support they have 294 00:28:08,022 --> 00:28:12,822 is actually just rented they just they they just put up some money for the stratum server and they 295 00:28:12,822 --> 00:28:22,262 say will you please flip this bit to signal for 110 and so um even before that the whole philosophy 296 00:28:22,903 --> 00:28:27,303 of the idea doesn't make any sense because of course previous soft forks were adding new feature 297 00:28:28,983 --> 00:28:36,743 they were adding check lock time verify or whatever um and this is subtracting a feature 298 00:28:37,622 --> 00:28:44,663 this is saying some people like to do the opera turns so this is just a baffling thing like in 299 00:28:44,663 --> 00:28:49,382 the past you could always see how miners would want to activate the soft fork because it basically 300 00:28:49,382 --> 00:28:55,783 doesn't cost them anything and there's a potential for bitcoin network to be worth more 301 00:28:55,783 --> 00:29:00,582 because more transaction fees being paid due to new types of transactions being possible 302 00:29:02,343 --> 00:29:10,103 so this is a truly bizarre chapter in in uh bitcoin history and apparently the in 45 days 303 00:29:10,103 --> 00:29:20,103 early august the the signaling becomes mandatory based on you know their misunderstanding of what 304 00:29:20,103 --> 00:29:24,663 happened with the SegWit i think so anyway i don't know if anyone wants to comment on this 305 00:29:24,663 --> 00:29:28,502 at all but i've added it to the list because for some reason people can't stop talking about 306 00:29:29,382 --> 00:29:35,863 it's it's kind of baffling why is anyone talking about 110 when you could talk about because with 307 00:29:35,863 --> 00:29:40,663 vip 300 you really can add new features collect more revenue you could get all the stuff that you 308 00:29:40,663 --> 00:29:45,062 want you could put all the ordinals and stuff but anyway we got a hunter beast hand so hello welcome 309 00:29:45,062 --> 00:29:52,103 welcome to speaking about people yeah so uh i built a bit of an interest in what technically 310 00:29:54,182 --> 00:29:56,423 i can speak to some of it and why 311 00:29:57,303 --> 00:29:59,702 but i don't know and we'll see 312 00:30:12,103 --> 00:30:15,543 sorry is it just me or he's very muffled like is there anything you 313 00:30:15,622 --> 00:30:20,182 was kind of hard to hear a little bit like give me one moment 314 00:30:27,062 --> 00:30:31,223 yep no problem one moment given technical difficulties 315 00:30:34,022 --> 00:30:40,502 okay uh is that better yeah it's much better yeah sorry about that all right so uh basically like 316 00:30:40,663 --> 00:30:43,942 i've done it's a bit of an interest in 110 for kind of the same reason i'm interested 317 00:30:44,582 --> 00:30:51,783 in uh eCash too is uh uh or at least your CUSF effort um i was really intrigued and interested 318 00:30:51,783 --> 00:30:58,502 by all of that uh because uh i i i'm interested in softworking bitcoin myself i want to make sure 319 00:30:58,502 --> 00:31:05,783 that bitcoin is quantum resistant and that we have a good solution to uh essentially the quantum 320 00:31:05,783 --> 00:31:13,303 FUD that keeps going around and uh uh you know like whoever wants to soft fork bitcoin i'm 321 00:31:13,303 --> 00:31:22,743 basically want to collaborate and find uh you know common ground so that um maybe that sort of 322 00:31:23,382 --> 00:31:30,903 uh i for not only do i get some uh let's say insights into what's necessary to actually 323 00:31:30,903 --> 00:31:36,822 fork bitcoin what works and what doesn't and i just need to see it uh firsthand from the trenches 324 00:31:37,543 --> 00:31:43,863 and so uh like really like all the different pieces in the bitcoin ecosystem we're in a very 325 00:31:43,863 --> 00:31:50,663 different regime than uh when SegWit and even taproot were activated um because like there's 326 00:31:50,663 --> 00:31:56,663 so many more more stakeholders on the network uh and so there's a lot there's a lot to be said 327 00:31:56,663 --> 00:32:02,022 about all of this but uh yeah i i just want to say that like um i'm happy to you know sort of 328 00:32:02,582 --> 00:32:06,822 uh provide the steelman argument in favor of 110 and also 300 um 329 00:32:10,903 --> 00:32:16,022 yes i agree okay so i mean my point of view is that the soft fork 330 00:32:16,022 --> 00:32:23,062 is this amazing the fact that the soft fork is even possible is kind of incredible and it 331 00:32:24,022 --> 00:32:30,502 and we came up with it back in 2012 when i was i was actually involved with you know i was a 332 00:32:30,502 --> 00:32:36,262 bitcoin uh you know fan at the time and i remember when it was sort of and i remember not understanding 333 00:32:36,262 --> 00:32:41,702 it at all but basically that software kind of is like we can't get everyone to upgrade 334 00:32:41,702 --> 00:32:49,062 so can we just build the upgrade in a way that both you know the old users and the new users 335 00:32:49,142 --> 00:32:53,062 can both be on the network it's just the fact that this is even possible it's like amazing you 336 00:32:53,062 --> 00:32:59,783 know because how does it normally work normally you sign in to something and they say you know 337 00:32:59,783 --> 00:33:04,423 update required you know what if you want to play what if you want to play some video games with 338 00:33:04,423 --> 00:33:09,942 your friends you go on the steam and you click up you can't because the update is mandatory 339 00:33:10,822 --> 00:33:16,663 and uh but this we've had something where the updates are never mandatory and the fact that 340 00:33:16,663 --> 00:33:25,303 that even works is mind-blowing and it also proves that the new version basically is guilt-free 341 00:33:25,303 --> 00:33:30,022 you know it proves that the new version has no flaws because think about it people always revert 342 00:33:30,663 --> 00:33:37,303 back and so i think any to me this is like we're playing one of those games speaking of games 343 00:33:37,863 --> 00:33:43,622 you know you guys ever play those games like among us or mafia or uh you know these are like 344 00:33:43,622 --> 00:33:49,463 the social deduction games where like someone is actually a bad guy in your team and you don't know 345 00:33:49,463 --> 00:33:54,822 who they know who they are but you don't know who they are and to me i just think anyone who's 346 00:33:54,822 --> 00:33:59,062 against the soft fork must be like some kind of crazy person like an or like an evildoer of some 347 00:33:59,062 --> 00:34:04,663 kind so that's like as far as i take this view i just think like these people are really weird 348 00:34:04,663 --> 00:34:12,182 and it's very suspicious that they're against basically a free tool a free tool that cannot 349 00:34:12,182 --> 00:34:18,822 harm us and it has like extremely like epic powers uh and so this includes michael saylor 350 00:34:18,822 --> 00:34:22,343 who's like a kind of against all these yeah i don't think he even understands what they are so 351 00:34:22,343 --> 00:34:26,822 enough to literally be against them but he thinks he's against them and he sort of tweets against 352 00:34:26,822 --> 00:34:33,142 them i suppose so so yeah the soft fork is great and then with CUSF which is you know an invention 353 00:34:33,142 --> 00:34:38,822 of mine it's a great called the Core Untouched Soft Fork and you go to bib300qcif.com it's just 354 00:34:38,822 --> 00:34:46,022 a site where i parked the document some other stuff there's also a ctv CUSF by the way and all 355 00:34:46,022 --> 00:34:51,463 this is is it says you just put you basically leave bitcoin core untouched and you use that 356 00:34:51,463 --> 00:34:56,663 for everything you want to do but you also next to it you run a second piece of software 357 00:34:56,663 --> 00:35:02,423 that it will check the blockchain for any violations of the new rule and then it will 358 00:35:02,423 --> 00:35:07,622 because maybe i should this is getting a little run on and long-winded so hopefully it's not too 359 00:35:07,622 --> 00:35:18,502 bad but the way the software kind of works is it will it will reject a block um sometimes so 360 00:35:18,502 --> 00:35:24,983 and the reason that this works is because satoshi put in all these blank opcodes these opnops so 361 00:35:24,983 --> 00:35:30,423 this is like a blank cube of marble there there's unlimited marble for us to take you say you use 362 00:35:30,423 --> 00:35:38,423 opnop7 it's always allowed opnop7 you take it and with the soft fork you chisel away at it you 363 00:35:38,423 --> 00:35:43,543 chisel it away until there's a beautiful angel statue remaining and the stuff that you chisel 364 00:35:43,543 --> 00:35:50,582 away this is like what the block will reject with the script interpreter throws error and this is 365 00:35:50,582 --> 00:35:55,223 super cool because now you start with the whole anyone can spend then you subtract and now you 366 00:35:55,223 --> 00:36:01,702 have a new feature and then it's as long as 51 miners upgrade it's safe it's as safe to use really 367 00:36:01,702 --> 00:36:09,543 as the other features more or less maybe not in a completely 100 philosophical airtight way but 368 00:36:09,543 --> 00:36:14,743 in a very practical way basically is flips from being not existing at all to being basically 369 00:36:14,743 --> 00:36:19,622 working for everyone permanently so this is the magic of the soft fork that you can do this because 370 00:36:19,622 --> 00:36:26,663 we have these unlimited opcodes and this is the the genius of it and it's just it's just this 371 00:36:26,663 --> 00:36:31,942 towering genius that it's impossible at all so that with all you've just learned in my long rant 372 00:36:32,582 --> 00:36:38,262 why is anyone against the soft fork especially the opcode soft forks these would be like ctv any 373 00:36:38,262 --> 00:36:47,942 prev out BIP300 with 301 um and i you know presumably bit 360 uh or the maybe op success 374 00:36:47,942 --> 00:36:51,863 because with tapper we added this like op success thing that's basically the same as the op-nop 375 00:36:52,582 --> 00:37:00,743 it's just like so all of these things that just add a little bit of a feature um it's unfortunate 376 00:37:00,743 --> 00:37:05,702 that you know SegWit was really an unusual this is like a digression but SegWit is like an unusual 377 00:37:06,263 --> 00:37:13,623 and bizarre it's it's unlike like op check lock time verify or these other things but so the point 378 00:37:13,702 --> 00:37:19,302 is the point of it all is this it's like well there's this powerful technique that's like opt 379 00:37:19,302 --> 00:37:25,302 in reversible and ignorable who are all who are all the haters of this technique it's these must 380 00:37:25,302 --> 00:37:32,743 be like all the all the the evildoers all the bad guys so yeah but we haven't had a new soft fork in 381 00:37:32,743 --> 00:37:39,223 a while and we've suffered enormously as a result because now the rarer they get the more it turns 382 00:37:39,223 --> 00:37:47,062 into like a a prize if you can pull it off before we did three a year and they weren't controversial 383 00:37:47,062 --> 00:37:51,942 at all we did well on average two a year but there were some years in which we did many 384 00:37:53,383 --> 00:37:59,143 um and it wasn't controversial at all it was just it just happened to be a feature of how it worked 385 00:37:59,143 --> 00:38:06,743 that you couldn't use it until 51 hash rate had activated and just as a courtesy we had this 386 00:38:06,743 --> 00:38:16,343 system spip nine where it wouldn't activate until 95 that was just pure courtesy that was just 387 00:38:16,343 --> 00:38:22,182 because we don't want some people to like get left behind so we had this whole thing with the signaling 388 00:38:22,182 --> 00:38:26,182 and then the two-week period where it's once you have enough in the signaling there's an additional 389 00:38:26,182 --> 00:38:32,662 two weeks of waiting all this was designed you know for the safety and convenience of all the 390 00:38:32,662 --> 00:38:38,103 participants cooperating together it was not intended to be like this voting thing and it just 391 00:38:38,103 --> 00:38:43,383 became a giant mess really because of what happened with the block size war and the block size war 392 00:38:43,383 --> 00:38:49,463 destroyed everything basically but and but one of the many things it destroyed was the ability to 393 00:38:49,463 --> 00:38:55,942 soft fork more or less and so that that's how we have this backlog of perfectly valid soft forks 394 00:38:55,942 --> 00:39:03,302 that are harmless and very useful and uh and that has contributed to the destruction of btc 395 00:39:04,503 --> 00:39:11,302 over time and and the need for the new eCash hard fork in in august because this is again 396 00:39:11,302 --> 00:39:17,463 it's not just that they're making a mistake it's that all the reasons don't make any sense like 397 00:39:17,463 --> 00:39:22,582 you would never show it's like you've shown up to a you've shown up to a land i think i used this 398 00:39:22,582 --> 00:39:28,263 metaphor a few recordings ago but it's like you show up to a land where they just like kill all 399 00:39:28,263 --> 00:39:34,582 their own children and they say our population is really low we're struggling and it's like well 400 00:39:34,582 --> 00:39:39,542 have you tried not killing your own children which is the soft fork is this a good thing 401 00:39:40,263 --> 00:39:45,702 but people don't even wrap their head around why it's good or why it's basically guaranteed to be 402 00:39:45,702 --> 00:39:47,143 harmless 403 00:39:46,919 --> 00:40:02,679 and so that's my long rant about the soft fork uh but yeah of course hunter beast has also written a soft fork we all have to look around and figure out like oh how can we actually get how can we actually get it to work unfortunately now it's become so rare that it looks like 404 00:40:02,679 --> 00:40:15,319 we're trying to increase our own developer prestige this is just part of the ongoing cultural derangement of btc um but yeah i thought with qcf the idea was 405 00:40:15,399 --> 00:40:20,838 you know now he doesn't even touch bitcoin core so it's actually even more modular than before and 406 00:40:20,838 --> 00:40:28,279 ignorable than ever but again people don't go for it um which again prove it proves how doomed btc is 407 00:40:28,279 --> 00:40:36,119 and i think in the long run actually um to add to that paul like um i think it was about six or 408 00:40:36,678 --> 00:40:42,279 five or six months ago i had i listened to a podcast with samson mao and uh and he basically 409 00:40:42,279 --> 00:40:50,358 just said that he is he's on the opinion that uh you know i mean he didn't even talk about you know 410 00:40:50,358 --> 00:40:58,279 any soft forks he he just basically talked about anything that's um that would be new to bitcoin 411 00:40:58,279 --> 00:41:05,079 anything that would improve bitcoin or any of the bips he basically just said like he's on he's on 412 00:41:05,079 --> 00:41:13,319 the verge of the opinion that uh you know maybe once maybe once every year maybe you know once 413 00:41:13,319 --> 00:41:20,438 every two years um it is something that would need it um and then in in uh there was a conference in 414 00:41:20,438 --> 00:41:25,719 abu dhabi where michael sailor was there and i was there too and i remember someone asked about 415 00:41:25,719 --> 00:41:32,279 uh you know bitcoin uh upgrades for um to sailor and he said like no bitcoin doesn't need any 416 00:41:32,279 --> 00:41:39,639 upgrades it doesn't need any new improvements and and he's on the opinion that maybe maybe 417 00:41:39,639 --> 00:41:46,679 if something is broken or or there's a vulnerability that's the only that's the only reason why he would 418 00:41:46,679 --> 00:41:54,118 support anything like that and that just really shows um and proves your point in terms of like 419 00:41:54,838 --> 00:42:00,999 you know for all these people bitcoin is just fine as it is and i think they're going to really 420 00:42:00,999 --> 00:42:08,999 really see um other protocols taking over they're really going to see um if the quantum threat 421 00:42:08,999 --> 00:42:16,439 indeed becomes uh you know uh a threat in in the short term and then they're going to uh you know 422 00:42:17,159 --> 00:42:24,038 uh find their find themselves in trouble because eventually like all these companies 423 00:42:24,038 --> 00:42:30,758 um not just strategy but all the other uh you know um uh treasury companies and all the other 424 00:42:30,758 --> 00:42:35,639 big companies s&p 500 companies that have thousands of btc on their balance sheet 425 00:42:36,519 --> 00:42:39,958 is going they're going to come the time is going to come and they actually 426 00:42:39,958 --> 00:42:43,639 will care right because it will put their asset in a danger 427 00:42:47,318 --> 00:42:51,879 um i completely agree and so we got hunter but before we go to hunter who has his hand up 428 00:42:52,598 --> 00:42:55,478 there's a quantum tie-in because there's two cases where 429 00:42:56,359 --> 00:43:01,398 once on bitcoin did they interview sailor and he's like well what about what about people who 430 00:43:01,398 --> 00:43:06,359 want privacy and then sailor just has to say well yeah maybe you do need a manero so which is a 431 00:43:06,359 --> 00:43:11,478 ridiculous answer for him to say after all that about there is no second best and blah blah blah 432 00:43:11,478 --> 00:43:16,038 and he's only seems to be half aware of how ridiculous it sounds which everyone can look up 433 00:43:16,038 --> 00:43:19,558 you just search for maybe you do need a manero but then the second one is someone says what about 434 00:43:19,558 --> 00:43:26,198 quantum and then michael sailor again he gives like this low iq answer of just like well he says 435 00:43:26,198 --> 00:43:31,958 something like there will be a well then there will be an upgrade and you know he just says 436 00:43:31,958 --> 00:43:38,519 like there will be an upgrade like this comically vague thing so i don't know if hunter beast that's 437 00:43:38,519 --> 00:43:44,118 what you wanted to but then we also have a new speaker mr coin something coin bizarre 438 00:43:44,999 --> 00:43:52,838 yeah hey paul um i wanted to uh just point out just like how what what's the question 439 00:43:52,838 --> 00:43:56,359 i'm sorry well i think we'll do here we go to hunter first i think he had a great test 440 00:43:58,678 --> 00:44:04,919 um okay so we'll do hunter first okay so so i was just uh i did first of all i just want to 441 00:44:04,919 --> 00:44:11,639 point out that your analogy to a soft fork being like uh um chiseling a beautiful statue out of 442 00:44:11,799 --> 00:44:16,679 marble i just thought that was like a beautiful analogy and i always love you know how you talk 443 00:44:16,679 --> 00:44:25,318 about bitcoin paul it's just uh really romantic and cool and um dare i say attractive regardless 444 00:44:25,318 --> 00:44:36,839 uh i um uh i i did want to ask you one question about um uh let's see uh the like game theory uh 445 00:44:36,839 --> 00:44:43,559 first of all i know some people uh discount game theory in bitcoin discussions like incentives and 446 00:44:43,559 --> 00:44:49,878 things like that um i i've certainly seen matthew corallo discount that and honestly i i don't 447 00:44:49,878 --> 00:44:56,839 necessarily see matt as a particularly intelligent person um i just i just see him sort of 448 00:44:57,399 --> 00:45:03,478 crushing his iq or intelligence into a small corner and of his mind but i'd be curious of 449 00:45:03,478 --> 00:45:09,158 like your thoughts on game theory on incentives and in particular i think one of the steel man 450 00:45:09,158 --> 00:45:16,839 cases for 110 is like like one of the one of the more potent ones is uh that when you whenever you 451 00:45:16,839 --> 00:45:23,318 tighten the protocol uh what is allowed in the protocol uh through a soft fork whenever that 452 00:45:23,318 --> 00:45:31,959 happens there is an incentive to essentially attack the other the the other fork regardless 453 00:45:31,959 --> 00:45:37,478 of whether it's uh you know it's hash rate or whatever because uh the the protocol is looser 454 00:45:37,478 --> 00:45:46,998 and less defensible essentially well it does become there's a sense in which you could say 455 00:45:46,998 --> 00:45:51,799 uh and then we'll go to coin bazaar but there's a sense in which you could say like okay the block 456 00:45:51,799 --> 00:45:56,758 size increasing versus decreasing that was a clear case of like tightening or loosening 457 00:45:56,758 --> 00:46:02,519 with with these op codes it's kind of like there was no check lock time verified before 458 00:46:04,038 --> 00:46:09,318 which was up not too so that was a blank piece of marble but it was it was a cube of marble that no 459 00:46:09,318 --> 00:46:18,359 one used and then it switched from that to being a shaped a crafted shape that people actually did 460 00:46:18,359 --> 00:46:24,198 use and so it's kind of like you know sure i guess the rules technically tightened on op-nop too but 461 00:46:24,198 --> 00:46:31,799 no one was using op-nop too and there's an infinite number of op-nops so it's kind of like 462 00:46:31,799 --> 00:46:37,799 it just sort of misses the point i think i do think game theory is very important because 463 00:46:38,839 --> 00:46:44,998 bitcoin is not something like cryptographic that has like 256 bits of security 464 00:46:44,998 --> 00:46:51,799 in the way that the keys are bitcoin is a claim about what people will do including the other 465 00:46:51,799 --> 00:47:00,198 nodes the other miners and stuff like that um so i think it is of very high relevance 466 00:47:00,198 --> 00:47:04,278 but let's go to coin bazaar thanks for waiting 467 00:47:06,919 --> 00:47:13,718 yeah i'm audible right so uh not that easy to hear you but i can hear most of what you're saying 468 00:47:14,359 --> 00:47:15,318 it's fine let me read 469 00:47:17,878 --> 00:47:24,758 okay fine as far as you know the the software is concerned we have already seen with bch 470 00:47:25,559 --> 00:47:34,038 right so there was a time when it happened and and and that too with when the hash rate was not 471 00:47:34,038 --> 00:47:40,598 that you know vibrant and it was it was just exploding at that point of time when when bcs 472 00:47:40,598 --> 00:47:45,239 did their fork but then what exactly is the result as of today 473 00:47:47,478 --> 00:47:53,718 after six months probably not more than a year as much as i can recall you know 474 00:47:54,998 --> 00:48:03,799 it did not elevated so realistically why really we need to have a fork is one thing and what will 475 00:48:03,799 --> 00:48:08,438 happen to bitcoin core bitcoin core is running absolutely fine you know we we still have even 476 00:48:08,438 --> 00:48:14,438 after 16 years we still have been managed to have uh after the wallets which are in terms of 477 00:48:15,079 --> 00:48:21,638 uh the the that has been provided you know the transaction is absolute fine whether whether it's 478 00:48:21,638 --> 00:48:26,278 you know back or or the native or the legacy so so there is no confusion about the wallet 479 00:48:26,838 --> 00:48:33,239 but as far as the folks are concerned yes there is the concern of of why exactly it is being needed 480 00:48:34,199 --> 00:48:39,559 what exactly is going to provide the value secondly as far as you know the sale 481 00:48:40,439 --> 00:48:45,958 as sailor is said or or someone has actually mentioned sailor you know we need to understand 482 00:48:45,958 --> 00:48:51,398 that okay fine sailor was was one of the investors okay fine he invested in all those things but as 483 00:48:51,398 --> 00:48:56,199 far as the quantum is concerned of what he has he has actually said about quantum i don't know about 484 00:48:56,199 --> 00:49:01,559 that though i have to go go through that but you know as far as the quantum is concerned probably 485 00:49:01,638 --> 00:49:07,638 we have much more time to go ahead and realize that how quantum actually being you know uh being 486 00:49:07,638 --> 00:49:12,919 being you know the impactful thing that that's going to go ahead and impact the wallets and all 487 00:49:12,919 --> 00:49:18,278 those things because it's a whole ecosystem of things that are being and so much so are there 488 00:49:18,278 --> 00:49:23,958 that you know nowadays through social media you know there is much hoax rather than the 489 00:49:23,958 --> 00:49:29,078 realistic thing so probably it's we we are too early to to think of okay fine you know 490 00:49:29,638 --> 00:49:37,078 uh you know that is going to be the challenge for you know quantum is going to be a big challenge 491 00:49:37,078 --> 00:49:43,078 though though it's it's already there but i think that we have been jumping you know too fast for 492 00:49:43,078 --> 00:49:49,638 the right way uh we have to just wait and see that how it's going to be there but let's see yeah 493 00:49:50,759 --> 00:49:57,078 share your thoughts thank you okay thanks i think the first question was something like um 494 00:49:57,158 --> 00:50:04,038 what is the value of forks and there will be maybe confusion and so why do that is that 495 00:50:04,038 --> 00:50:08,919 that i understand that correctly i'm not sure that i did hopefully i did absolutely because you know 496 00:50:08,919 --> 00:50:14,679 poking is not something that is first time you know i don't know about how many people actually 497 00:50:14,679 --> 00:50:18,359 know about but this is not the first time that we are hearing for we already seen that 498 00:50:19,239 --> 00:50:25,158 poking is something that you do it for a purpose at that point of time and when when bch was with 499 00:50:25,239 --> 00:50:30,679 when bch was with forked they forked bitcoin that was a purpose that okay fine we need to 500 00:50:30,679 --> 00:50:35,958 have something and people were trying something that is that can go ahead and replicate 501 00:50:35,958 --> 00:50:42,119 the the consensus of bitcoin conditionally that it can elevate to something else that okay fine if 502 00:50:42,119 --> 00:50:47,559 if bitcoin is something that can go up or would not be reachable to people let's go ahead and 503 00:50:47,559 --> 00:50:53,319 have something next to bitcoin just like gold we have silver bronze so at that point of time 504 00:50:53,319 --> 00:50:59,078 developers were trying but there was a purpose at that point of time but after 16 years probably 505 00:50:59,078 --> 00:51:04,439 when the when the mining is so constrained that okay fine people have already seen that what 506 00:51:04,439 --> 00:51:11,958 exactly and how exactly you know ethereum has been dumped or anything else scribe has already 507 00:51:11,958 --> 00:51:18,119 been obsoleted scribe mining is not there sha is still running just because of the simple reason 508 00:51:18,199 --> 00:51:23,638 that people actually believe bitcoin so you need to understand that bitcoin is not for the people 509 00:51:24,359 --> 00:51:29,398 uh you know just to go ahead and enter into it to have some sort of currency but they they 510 00:51:29,398 --> 00:51:35,718 actually believe they did that it is something that is you know there and there is no one you 511 00:51:35,718 --> 00:51:42,759 know satoshi is still not findable and it there is some you know sense to the code that it has not 512 00:51:42,759 --> 00:51:47,398 been you know it can't be replicated it can't be go ahead and manipulated and all those things 513 00:51:48,518 --> 00:51:54,759 that is what exactly the the consensus that what bitcoin strives up till even after 16 years 514 00:51:55,559 --> 00:52:01,078 so it's not something that that the folk is something that is unheard of or that can't be 515 00:52:01,078 --> 00:52:09,078 achievable but what is the sense path of now why do we need that that's my question yeah well that's 516 00:52:09,078 --> 00:52:15,958 a very good question of course and um if you go to eCash.com there is like a why do this 517 00:52:15,958 --> 00:52:22,919 like section like a piece of writing where i try to explain that um which is but the short you know 518 00:52:22,919 --> 00:52:29,718 the you know to just explain it now is that there's really no reason why okay bitcoin has done 519 00:52:29,718 --> 00:52:35,078 very well bitcoin was created and now it's gone up it went up from 10 cents to a hundred thousand 520 00:52:35,078 --> 00:52:40,359 dollars so that's going up 99 million percent which is fantastic and we're not no one's complaining 521 00:52:40,359 --> 00:52:47,559 about that bitcoin has done very well but really there's no reason why it can't do with the current 522 00:52:48,359 --> 00:52:56,518 software that exists today and without foisting more hardware requirements on people and without 523 00:52:56,518 --> 00:53:02,199 asking people to do even without asking people to do a hard fork without asking people to do more 524 00:53:02,199 --> 00:53:08,999 it's with what we have today with very little we could very easily have planet scale to planetary 525 00:53:08,999 --> 00:53:15,398 scale like eight billion users enormous hundreds of billions of dollars in annual transaction fees 526 00:53:15,398 --> 00:53:22,598 paid to minors unlimited expressibility for new you know new development like new developers who 527 00:53:22,598 --> 00:53:28,679 want to do different things quantum proof etc we could have Zcash level privacy so we can have 528 00:53:28,679 --> 00:53:34,679 all that stuff today because there's been an enormous amount of r&d in the since 2017 you're 529 00:53:34,679 --> 00:53:40,119 talking about bitcoin cash which was of course it was trying something new and that was what it was 530 00:53:40,119 --> 00:53:46,199 trying was a one-time hard fork to eight megabytes and then basically it was trying like a different 531 00:53:46,199 --> 00:53:53,158 community but but yeah of course the hard forking once to eight megabytes that was never going to 532 00:53:53,158 --> 00:53:59,239 fix the the governance problem or the scaling problem because you'd have to hard fork again 533 00:53:59,799 --> 00:54:04,679 and that was it's kind of a big deal like that means that the the actual why not wait for the 534 00:54:04,679 --> 00:54:13,559 you know the final fix or whatever so um so this has a very good the purpose and the aim 535 00:54:13,559 --> 00:54:20,999 of this fork is uh i think very solid because it's a difference between btc which is in this 536 00:54:20,999 --> 00:54:25,879 weird cultural death spiral for no reason it could easily pull out at any time but we have 537 00:54:26,838 --> 00:54:32,439 miners who are very apathetic and very ignorant they don't even know anything about the soft fork 538 00:54:33,158 --> 00:54:38,199 we also have bitcoin core the developers are afraid of taking any responsibility or showing 539 00:54:38,199 --> 00:54:43,958 any leadership we have people like michael saylor who are there like on stage the michael saylor is 540 00:54:43,958 --> 00:54:50,838 like the spokesperson of bitcoin now and he is some new guy who joined in 2020 and his entry 541 00:54:50,838 --> 00:54:58,679 price is 75 000 and he's lost a ton of money on bitcoin and he's just used micro strategy to cut 542 00:54:58,679 --> 00:55:04,518 himself a 400 million dollar check which is like the whole reason he did all this and yet he is 543 00:55:04,518 --> 00:55:11,718 like the spokesperson like trying to you know chart the course for the future in bitcoin 544 00:55:12,598 --> 00:55:17,799 so every at every turn you have users we're fighting with 110 we're fighting the users away 545 00:55:17,799 --> 00:55:23,958 we have people who want to use the chain who are having fun and then luke is fighting these people 546 00:55:23,958 --> 00:55:31,718 away so that we're in a very dire situation and it's all completely unnecessary so why not just 547 00:55:31,718 --> 00:55:38,278 do the right thing with eCash we can be an example of what btc should do and we can be also 548 00:55:38,278 --> 00:55:43,958 an alternative and insurance policy if they if btc is just going to determine to commit suicide 549 00:55:43,958 --> 00:55:50,439 basically so now we have okay coin bazaar has their hand up again so yes you know uh i think 550 00:55:50,439 --> 00:55:57,638 you know that's very unjustifiable to say or to blame michael saylor or anyone for that matter 551 00:55:57,638 --> 00:56:02,518 just because of a simple reason when bitcoin is concerned and someone is actually endorsing 552 00:56:02,518 --> 00:56:08,999 bitcoin i'm not saying not for the personal gain or for anything else that matters but realistic 553 00:56:09,078 --> 00:56:14,518 thing what happens is no one's going to pay for bitcoin bitcoin strives for the community 554 00:56:14,518 --> 00:56:20,439 i mean it is something that one believes as i said earlier that when you have or you when you 555 00:56:20,439 --> 00:56:26,119 know about bitcoin when you enter bitcoin when you buy you say you do anything with bitcoin it's your 556 00:56:26,119 --> 00:56:33,958 core belief no one no no influencer is telling you you do that but no no influencer is getting paid 557 00:56:34,759 --> 00:56:41,398 i mean we need to understand that bitcoin started as you just mentioned from from 10 cents to to 558 00:56:41,398 --> 00:56:46,518 hundreds and thousands of dollars and probably i've seen that just it's just 16 years is not 559 00:56:46,518 --> 00:56:52,599 more than it's not long line of history or long line of things that that has been associated it's 560 00:56:52,599 --> 00:57:01,158 just 16 years wherein hardly people before you know 65 000 mark people hardly or or anyone 561 00:57:01,158 --> 00:57:07,479 hardly actually have any insight about what what actually bitcoin does for them so realistically 562 00:57:07,479 --> 00:57:13,319 if we see as i said that bitcoin that saylor's you know entry point is 75 so i am seeing up 563 00:57:13,319 --> 00:57:19,479 till 65 000 people didn't actually know that what exactly is bitcoin people did not know 564 00:57:20,038 --> 00:57:27,158 because at that point of time you know things were being pushed as side by side as i said bcs 565 00:57:27,158 --> 00:57:34,998 or lpc or anything else for that matters at that point of time and and now after 65 you know nfts 566 00:57:34,998 --> 00:57:42,118 and meme coins and old coins they they all work for the ecosystem not for the bitcoin but they 567 00:57:42,118 --> 00:57:48,919 they actually being getting onto a bandwagon of bitcoin so as i have i have a simple thing to 568 00:57:48,919 --> 00:57:55,398 and i have a simple chronology to think about that if bitcoin bitcoin is the driving force of in and 569 00:57:55,638 --> 00:58:02,199 any any old coin market or coin market it is as simple as i bitcoin goes up everything goes up 570 00:58:02,199 --> 00:58:07,638 bitcoin goes down everything goes down bitcoin goes 50 percent low anything else can go 80 percent 571 00:58:07,638 --> 00:58:14,679 90 percent low and that that that have been there since the inception of any old coin you pick up 572 00:58:14,679 --> 00:58:20,998 10 000 of old coins have been developed every now and then just push to a to a to a to a level you 573 00:58:20,998 --> 00:58:26,518 know for for 10 days 15 days 20 days and then push gone so we need to understand that okay fine 574 00:58:26,518 --> 00:58:33,638 if we gonna go ahead and fork bitcoin we need to have certain responsibility of the community 575 00:58:33,638 --> 00:58:40,839 that bch has not been able to drive after a point of time you know it touched 1600 and after that 576 00:58:40,839 --> 00:58:48,358 it never went back it's still struggling flat mining is already gone so with with the forking 577 00:58:48,358 --> 00:58:52,679 how are we going to sustain the forking is something that is that is needed to be considered 578 00:58:52,679 --> 00:59:04,599 sir thank you okay thanks again i do have it in writing on the site so i have a more detailed 579 00:59:04,599 --> 00:59:09,638 explanation about the differences between this project and bitcoin cash in 2017 there is a long 580 00:59:09,638 --> 00:59:15,079 list of differences but now we got we have robin linus on as a speaker and we have a hunter beast 581 00:59:15,079 --> 00:59:21,319 with a hand up also so i don't know maybe we've got a hunter first i just wanted to to thank you 582 00:59:21,319 --> 00:59:29,079 for your time i gotta hop to another space uh soon uh but uh uh i i just want to say that i 583 00:59:29,079 --> 00:59:36,439 want to talk more and support your efforts however i can and uh i really just like all that you've 584 00:59:36,439 --> 00:59:42,518 written and and contributed so far on the concepts of soft forks and all the different things uh 585 00:59:42,518 --> 00:59:48,439 there and um i i'm rooting for your success because you just uh you speak to bitcoin in a 586 00:59:48,439 --> 00:59:55,799 very beautiful beautiful way and uh also uh uh robin uh thank you uh for for all the uh um 587 00:59:55,799 --> 01:00:01,799 thoughts that you've contributed as well in much respect to you and uh vlad of course much love 588 01:00:01,799 --> 01:00:06,599 so uh um take care now guys and uh um yeah thank you 589 01:00:08,478 --> 01:00:11,198 thanks very much thanks for stopping by bye hunter 590 01:00:17,678 --> 01:00:22,158 okay and we have robin up here if you want to say anything robin feel free 591 01:00:22,958 --> 01:00:26,798 uh i gotta find my list anyway to see what was on it 592 01:00:44,157 --> 01:00:47,437 while you're looking at your list i'd just like to say i think um one of the pros 593 01:00:48,317 --> 01:00:52,157 actually of having strategies price be down is you know people can actually now start talking 594 01:00:52,157 --> 01:00:57,918 about it for a long time sailor and strategy and his products were like the unspoken thing 595 01:00:58,477 --> 01:01:04,637 like heaven forbid you say anything about them but now like there's opportunity to speak about 596 01:01:04,637 --> 01:01:10,558 that and i think i think that's good i i don't like the when it's all like basically like puritan 597 01:01:10,558 --> 01:01:15,037 levels where you oh you can't speak about that don't talk about that it's like why not i think 598 01:01:15,037 --> 01:01:20,238 we should be free to criticize talk about anything like that especially something like strategy 599 01:01:20,238 --> 01:01:24,797 where they have such large holdings of it and you know have clear things like you know they're not 600 01:01:24,797 --> 01:01:29,357 showing proof of reserves they're clearly doing things and speaking about like i've been in a 601 01:01:29,357 --> 01:01:33,437 couple of conversations lately about strategy where people they're they're they're like it's 602 01:01:33,437 --> 01:01:37,598 falling and they're defending it and some people are not wrong are not understanding why and i i 603 01:01:37,598 --> 01:01:43,838 just ask them very carefully i'm like if you believe in bitcoin and the the the thesis of 604 01:01:43,838 --> 01:01:50,717 the value of 21 million how do you value a company that's only process in the world is issuing fiat 605 01:01:51,437 --> 01:01:56,878 paper off of its bitcoin holdings what is the value of strategy within the context of 21 million 606 01:01:56,878 --> 01:02:01,278 i never get clear answers for it because i i i think that they deep down know what the answer 607 01:02:01,278 --> 01:02:10,238 to that is and they're afraid to say it yes it's very similar to bitcoin core where it was like 608 01:02:10,238 --> 01:02:17,357 okay the thing you can't criticize that's the broken thing yeah okay something on my list was 609 01:02:17,357 --> 01:02:26,557 this idea of will there be a easy way to get people to like people who want to develop a sidechain 610 01:02:27,518 --> 01:02:31,838 um i always say the same thing with this but i guess you know multiple people many people have 611 01:02:31,838 --> 01:02:35,437 complained have made this comment or this complaint that there needs to be some kind of like 612 01:02:36,557 --> 01:02:45,437 documentation or like a sdk or something um i always think the best way is to just look at 613 01:02:45,437 --> 01:02:50,238 one of the existing chains existing L2 chains of which there are now like nine 614 01:02:50,478 --> 01:02:57,118 and just you know you can just look for yourself like that's what a one looks like that that's 615 01:02:57,118 --> 01:03:04,478 actually real and that it actually works but since so many people have asked i'll try to put together 616 01:03:04,478 --> 01:03:13,357 some kind of development kit or some kind of documentation that explains it all i think 617 01:03:13,437 --> 01:03:21,437 bib 300 the text of bib 300 itself and bib 301 it's not that long so if you really were determined 618 01:03:21,437 --> 01:03:29,678 to read there is stuff that you can read but um that was a comment from uh and then i had another 619 01:03:29,678 --> 01:03:37,917 comment about well let's just see if we have any new kind we have a coinbase coinbazaars yes again 620 01:03:37,917 --> 01:03:44,077 hello yeah i just want to make a small comment you know as far as you know 621 01:03:44,878 --> 01:03:48,637 sailor has been you know talked of nowadays i'm not saying 622 01:03:51,197 --> 01:03:59,437 for for the long time but yes if you see you know bitcoin conferences that that you know happened 623 01:03:59,437 --> 01:04:05,277 and all those things sailor has already been admired that okay fine you know so it's just a 624 01:04:05,277 --> 01:04:11,758 point in time that sailor has been you know said that and which is not the right thing according 625 01:04:11,758 --> 01:04:18,157 to me because he himself is a bitcoiner he always endorsed it he said that okay fine you know buy 626 01:04:18,157 --> 01:04:25,037 bitcoin something of that sort so what is the what is the sense if he is as we see you know 627 01:04:25,037 --> 01:04:33,998 if he's selling something he bought it to sell it what is the the concern about having sailor to 628 01:04:33,998 --> 01:04:41,438 make or you know push him into a podium okay fine that it's just because of you know he he is just 629 01:04:41,438 --> 01:04:48,718 one piece of the whole bitcoin community he's not a minor he's not he's not being building he's not 630 01:04:48,718 --> 01:04:54,797 doing he is just an investor and and that's what exactly bitcoin strive for some people believed 631 01:04:54,797 --> 01:04:59,838 in investing some people believed in buying some people believed in trading some people believed in 632 01:04:59,917 --> 01:05:06,797 and you know mining some people believed in okay fine let me go ahead and have it to order it so 633 01:05:06,797 --> 01:05:13,998 there is a there is a purpose and as i've been saying that okay fine there's a whole ecosystem 634 01:05:13,998 --> 01:05:20,238 of the things that is working so the believer needs not to be put into any sort of you know 635 01:05:20,238 --> 01:05:26,317 counter-attack to define okay fine did this happen because of you know he's just one piece in the 636 01:05:26,317 --> 01:05:32,317 world so you you can't just say that i can find the directions are not into bitcoin chinese indian 637 01:05:32,317 --> 01:05:42,718 any country you say so he is one of them but yes he holds he hold things he endorsed it he has been 638 01:05:42,718 --> 01:05:49,278 into conferences and people like you me and everyone probably was being very very happy you 639 01:05:49,357 --> 01:05:58,958 know when it was 65 000 it went to 17 000 and then it went back to 125 and sailor was was 640 01:05:58,958 --> 01:06:05,037 consistent saying okay fine you know by this that blah blah blah so many interviews he was going 641 01:06:05,037 --> 01:06:10,398 you know into conferences endorsing everything giving interviews sitting out there telling people 642 01:06:10,398 --> 01:06:17,998 what he was getting telling people no he wasn't he was not something that constrained himself that 643 01:06:17,998 --> 01:06:23,438 okay fine i have my i have my secret recipe i'm gonna buy but i'm not gonna tell the world no he 644 01:06:23,438 --> 01:06:29,757 always said go ahead and buy do not sell all those things what whatever is there in his capacity 645 01:06:30,718 --> 01:06:35,357 so he never endorsed something that okay fine you know you don't do that what i am doing 646 01:06:36,398 --> 01:06:41,838 we have seen his tweets okay finally i've been telling everyone so so it's just very normal 647 01:06:41,838 --> 01:06:49,438 thing that he was doing he he was being a poor believer so let's not put into i don't think that 648 01:06:49,438 --> 01:06:56,398 he should be put into the the the the into any any sort of you know counter-attack are you are 649 01:06:56,398 --> 01:07:00,637 you separating sailor like a lot of times when we say sailor we're actually talking about 650 01:07:00,637 --> 01:07:08,317 micro strategy or strategy are you saying no no i am saying about only sailor as a person i'm not 651 01:07:08,317 --> 01:07:13,838 saying about micro say what it does okay the entity it has nothing to do with entity i have 652 01:07:13,838 --> 01:07:19,278 no concern make sure make sure you clarify that very much so because what he does as an individual 653 01:07:19,278 --> 01:07:29,518 is you know i don't care i i care about is as an individual who himself is a bitcoiner who entered 654 01:07:29,518 --> 01:07:36,958 or or who have been endorsing bitcoin apart from the things what it does you know for strategy or 655 01:07:36,958 --> 01:07:41,757 anything else but that matters the problem is is when he's endorsing it like that he's also 656 01:07:41,757 --> 01:07:48,238 simultaneously endorsing his company which people then put put dollars into you know okay fine that 657 01:07:48,238 --> 01:07:53,197 that probably is every person and every individual's provocative to go ahead and see the 658 01:07:53,197 --> 01:07:58,558 nitty-gritty of of if they believe the person or if they believe that okay fine that this person 659 01:07:58,558 --> 01:08:03,757 holds the company but i'm specifically saying about the the relation between sailor and the 660 01:08:03,757 --> 01:08:08,877 bitcoin i'm not saying anything about micro strategy i i do not have anything to do with 661 01:08:08,877 --> 01:08:14,158 microsoft probably half of the world has nothing to do with micro strategy but what i'm saying is 662 01:08:14,158 --> 01:08:21,197 his stance about bitcoin and how he endorses bitcoin as in not being the the core you know 663 01:08:21,197 --> 01:08:27,037 influencer of bitcoin but yes being someone who has actually said that okay fine you just buy it 664 01:08:27,037 --> 01:08:33,037 try to buy it do not sell it so it's very basic terminologies that he has used he has not 665 01:08:33,917 --> 01:08:39,518 he has not differentiated as in as in a person to person or a company to company but he actually has 666 01:08:39,518 --> 01:08:46,237 done what a regular bitcoiner believer does no not not necessarily not necessarily because like 667 01:08:46,237 --> 01:08:50,077 in instances where he's talking about like oh bitcoin is it's digital credit right that's 668 01:08:50,077 --> 01:08:55,038 that's actually fundamentally against how bitcoin itself works right there is no credit involved in 669 01:08:55,038 --> 01:09:01,358 bitcoin so so so i i would push back on that he's not not everything he said has been good for 670 01:09:01,358 --> 01:09:05,918 bitcoin i think i think a lot of people in the space would agree with that especially paul like 671 01:09:05,918 --> 01:09:12,798 i mean he's he said some things that are they're flat out inaccurate with with how with how the 672 01:09:12,798 --> 01:09:17,838 chain actually works with how the time chain operates what the time chain represents so you 673 01:09:17,838 --> 01:09:24,158 know i mean people like to put these ceos and these people on pedestals and a lot of times they 674 01:09:24,158 --> 01:09:29,437 often are missing lots of parts not that i'm some genius not that i know everything about the chain 675 01:09:29,437 --> 01:09:33,518 and stuff like that but but but people love to put these these celebrities because that's really 676 01:09:33,518 --> 01:09:38,237 what they are right ceos these people are celebrities and then they worship them and then 677 01:09:38,237 --> 01:09:42,958 they take what they say as gospel even if they're probably wrong or they're saying something that's 678 01:09:42,958 --> 01:09:48,237 incorrect or just not even if it's wrong or incorrect but it's just it's just warped in this 679 01:09:48,237 --> 01:09:56,077 way that that changes people's perceptions of of what the project and its goals and its ideals are 680 01:09:56,158 --> 01:09:59,997 and then you wind up with things like stretch where there's this magical yield 681 01:09:59,997 --> 01:10:02,317 that comes out of nowhere because he holds bitcoin 682 01:10:05,358 --> 01:10:11,598 so so yeah i i criticize i criticize sailor i don't think he's doing a lot of good for bitcoin 683 01:10:11,598 --> 01:10:17,197 bitcoiners and the chain i i criticize i like look at the people that have probably put 684 01:10:17,838 --> 01:10:24,317 hundreds of thousands of dollars i guarantee into into mstr into stretch and they're dying now and 685 01:10:24,557 --> 01:10:29,677 they're hoping on some sort of you know a a narrative that he's putting out right and 686 01:10:29,677 --> 01:10:34,398 they're listening to other influencers meanwhile they're they're they're they're dying okay and 687 01:10:34,398 --> 01:10:39,598 again some of that comes down to these other ideas because other narratives are put on top of that 688 01:10:39,598 --> 01:10:43,437 where people are just trying to get rich quick and they're just yoloing all their cash into these 689 01:10:43,437 --> 01:10:49,038 things and it's like jesus christ people like i don't know what to say so like you know i we really 690 01:10:49,038 --> 01:10:53,918 got to stop putting these people on pedestals he's a ceo he cares about one thing and one thing only 691 01:10:53,918 --> 01:10:58,077 his business and the shareholder price of that business that's all he cares about and 692 01:10:58,077 --> 01:11:04,798 maybe his golden parachute in 10 years like let's be serious now i just think it's a 693 01:11:06,798 --> 01:11:10,637 so i think we should just that we can make sure that everyone gets a so we can just make sure 694 01:11:10,637 --> 01:11:15,598 that everyone gets a um chance to ask their question we have a bunch of people who haven't 695 01:11:15,598 --> 01:11:22,958 spoken yet at all so maybe we could go to you know adam mcbride or shomari or robin 696 01:11:23,918 --> 01:11:30,958 for a little while hey yes sir how's it going man uh interesting you know when i heard you say 697 01:11:30,958 --> 01:11:35,278 well you were thinking about you weren't even going to do like an stk or a kind of 698 01:11:36,317 --> 01:11:43,918 um anything like that how do you then plan i mean you just is your strategy just i mean i 699 01:11:43,918 --> 01:11:49,757 to give you credit i think you've done an amazing job of marketing it uh really um creating creating 700 01:11:49,757 --> 01:11:55,358 controversy on the timeline is is fantastic and you've done a great job but are you really 701 01:11:55,358 --> 01:12:01,117 is that your actual strategy just just to create just to kind of build it and then people you know 702 01:12:01,838 --> 01:12:06,958 build it and they will come i mean is that the strategy behind the same question paul i had the 703 01:12:06,958 --> 01:12:14,237 same question okay great i'll answer two with one stone i think people have totally misunderstood or 704 01:12:14,237 --> 01:12:19,278 maybe i don't know if that's the right word like we already have thunder we already have zSide 705 01:12:20,158 --> 01:12:25,358 there's a guy out there this guy j he's a j on twitter i don't know if he's here he may be here 706 01:12:25,358 --> 01:12:32,557 he may not be but he already made a Blockstream elements chain so he already followed my advice 707 01:12:32,557 --> 01:12:38,798 um i think it's quite easy to make a new L2 chain like i think it's it's actually very easy 708 01:12:39,598 --> 01:12:45,997 so he some other guy was already able to make one without the stk we already have thunder and zSide 709 01:12:45,997 --> 01:12:51,197 we already have uh you know stuff that we're working on we always have outside contributors 710 01:12:52,557 --> 01:12:58,958 uh making things so actually the development side the development dimension is is pretty 711 01:12:58,958 --> 01:13:06,958 healthy we you know by by this time next week there'll be the publicly available mobile app 712 01:13:07,518 --> 01:13:12,478 we have bit window bit window so i think the architecture is really really strong 713 01:13:12,478 --> 01:13:18,637 to the point where even if there was zero development um after you know from like september 714 01:13:18,637 --> 01:13:27,437 first on it would be the you know like the best tech in the industry and but that's a small small 715 01:13:27,437 --> 01:13:34,077 percentage of what will be built because not only is already going to be the best but it we've we've 716 01:13:34,077 --> 01:13:39,437 just set it up in a way where there's no there's no barriers so it's like if you want to change 717 01:13:39,437 --> 01:13:45,437 L1 you can release your own Core Untouched Soft Fork that it doesn't you don't have to do a pull 718 01:13:45,437 --> 01:13:51,997 request to eCash L1 you know and if you want to change something in the front end you want to 719 01:13:51,997 --> 01:13:55,997 change the wallet or something you could just release your own use fork bit window on github 720 01:13:56,718 --> 01:14:01,197 release your own bit window and if you want to change the mobile app just fork the mobile app 721 01:14:01,197 --> 01:14:05,677 or just whatever you know so you don't need sdk you have the the real thing that actually works 722 01:14:06,237 --> 01:14:10,958 it's like and you can just especially with ai and stuff but you can just ring it all part 723 01:14:10,958 --> 01:14:15,997 but we don't need any development but on top of that it'd be very very very very easy for people 724 01:14:15,997 --> 01:14:20,718 to develop on top of how are they supposed to build on top of thunder when it launches 725 01:14:21,838 --> 01:14:25,518 that that's my question yeah it's true it's a very good question because there is an endless 726 01:14:26,077 --> 01:14:31,278 you know no matter how high you build the the tower the tech stack there's always going to 727 01:14:31,278 --> 01:14:35,518 be people who want to build on top of that who are going to say oh you know what warcraft 3 728 01:14:35,518 --> 01:14:42,718 is great but what this really needs is a warcraft 3 custom map editor it's like trading engine right 729 01:14:42,718 --> 01:14:48,798 now you can't build on thunder i i've i've built and and and what it what i had to do to make 730 01:14:48,798 --> 01:14:55,358 anything useful on top of the existing Drivechains is is unreasonable for anyone because i 731 01:14:55,358 --> 01:15:00,877 had to basically build my own api you know reverse engineering the nodes and and i understand the 732 01:15:00,877 --> 01:15:06,398 nodes are the source of truth but you're basically expecting people to now develop their own 733 01:15:07,038 --> 01:15:12,637 infrastructure on top of what you've already built and and i think that's unreasonable i think layer 734 01:15:12,637 --> 01:15:17,918 two labs should provide infrastructure for at least the initial Drivechains people are going 735 01:15:17,918 --> 01:15:20,958 to create their own Drivechains of course and then they'll be responsible for their own 736 01:15:20,958 --> 01:15:27,997 infrastructure but you have you know the initial model and you haven't provided any uh like api 737 01:15:27,997 --> 01:15:32,798 access you know to those models and and everything now is just based on the node software which is 738 01:15:32,798 --> 01:15:39,437 completely useless for building you can't get any reasonable uh data useful data just from the node 739 01:15:39,437 --> 01:15:45,197 the node has to be indexed if you don't you know provide all these you know infrastructure 740 01:15:45,197 --> 01:15:50,237 you know resources my in my opinion no one's going to be able to actually build people will want to 741 01:15:50,237 --> 01:15:54,877 build but i've already taken that step and i see what they're going to be facing and it's i don't 742 01:15:54,877 --> 01:16:00,077 think it's reasonable so i would really hope you would reconsider and actually you know provide maybe 743 01:16:00,077 --> 01:16:04,877 like an application on top of thunder that then you'll see like what it would take to actually 744 01:16:04,877 --> 01:16:12,478 have others do the same thing um okay well that's certainly uh you know okay so the tower when you 745 01:16:12,478 --> 01:16:18,637 build the tech stack the tower can go infinitely high so we'll always be infinitely far away from 746 01:16:18,637 --> 01:16:24,557 the ceiling so to speak so like when i say the tech stack i'm talking like okay at the lowest 747 01:16:24,557 --> 01:16:28,877 levels you have like wires plugged into things you know then you eventually have like an application 748 01:16:29,518 --> 01:16:33,117 and then you have like so you have like twitter and then you say oh i want a twitter api 749 01:16:33,117 --> 01:16:37,117 but then eventually you say oh i want to have what's that thing where you can stream everything 750 01:16:37,838 --> 01:16:45,117 glad at the same time and it's like okay it's now using the twitter api and um it's called re-stream 751 01:16:47,358 --> 01:16:52,637 and um so that's uh so yeah and then eventually people will be like oh i want to have my ai agent 752 01:16:52,637 --> 01:16:58,478 plug into restream so what i'm saying is when we build the tower when you climb to the top 753 01:16:59,197 --> 01:17:05,358 it will always look like there's plenty to do because and that feeling will never go away 754 01:17:06,158 --> 01:17:11,358 ever if for a thousand years um so you always even no matter how tall the tower gets you'll 755 01:17:11,358 --> 01:17:17,357 always be able to say well why can't i have such and such thing so the i think the standard 756 01:17:17,438 --> 01:17:23,117 comparison should be instead how easy is it to scale to do transactions on thunder versus 757 01:17:23,117 --> 01:17:28,798 for example lightning in btc which is a complete total blowout you haven't given a roadmap in 758 01:17:28,798 --> 01:17:33,997 terms of how to actually start building i i appreciate you know the tower analogy because i i 759 01:17:33,997 --> 01:17:38,957 support that but people have to know how to climb the tower is there a ladder is there a staircase 760 01:17:38,957 --> 01:17:44,158 like that you haven't actually shown anyone how and and that's the operative word the how 761 01:17:44,717 --> 01:17:48,877 and i'm saying like that that's well right now you would run because of course thunder doesn't 762 01:17:48,877 --> 01:17:52,798 have that many transactions on it right now because it's brand new so for now you would 763 01:17:52,798 --> 01:17:58,957 run the thunder node and then when that no longer becomes practical it has to happen kind of 764 01:17:58,957 --> 01:18:04,637 organically to some extent because when eventually you have so many people using thunder and then you 765 01:18:04,637 --> 01:18:10,398 say oh it's actually kind of annoying to run the node instead of using the rpc from the node which 766 01:18:10,398 --> 01:18:15,918 does the exact same thing as what you know the api would do but eventually you just say well you 767 01:18:15,918 --> 01:18:22,637 know what i want to run this that's false that that is false the api does much more than the rpc 768 01:18:22,637 --> 01:18:27,038 like infinitely more and that's the whole point that that's that is my point you don't have an 769 01:18:27,038 --> 01:18:33,518 api so that the rpc is is kind of useless to builders it really is it's just it's just it's 770 01:18:33,518 --> 01:18:39,278 a firehose of information that has it's just raw data and the data has to be organized and if you 771 01:18:39,278 --> 01:18:42,798 don't organize the data no one's going to be able to actually use it and i'll just give you one 772 01:18:42,798 --> 01:18:47,438 example um because this is i think i already posted this is uh you know for example thunder 773 01:18:47,438 --> 01:18:54,477 does not have a block explorer you you have the mempool explorer for uh for signet the L1 and 774 01:18:54,477 --> 01:18:59,678 that's perfect it works perfectly but there's no block explorer for any of the L2s and and that 775 01:18:59,678 --> 01:19:04,717 that is my point like i did i built a block explorer and i saw how difficult it was to do 776 01:19:04,717 --> 01:19:10,798 that and i'm saying that is unreasonable you have to make it more approachable by offering you know 777 01:19:10,798 --> 01:19:15,438 additional resources on top like and i think that's a responsibility for the initial drive 778 01:19:15,438 --> 01:19:19,198 chains not not the ones you know that people are adding you know in addition but for the initial 779 01:19:19,198 --> 01:19:25,997 ones you know like thunder and and BitNames um you know LayerTwo Labs should be providing an 780 01:19:25,997 --> 01:19:31,597 api that is reasonable for people to build on top of otherwise i just don't see what's going to 781 01:19:31,597 --> 01:19:38,318 happen on on launch day there'll be nothing to do and yeah i think i'm kind of careful of that 782 01:19:38,318 --> 01:19:43,518 there'll be nothing i would just layer on top of that paul just just as like someone who's 783 01:19:43,518 --> 01:19:48,318 obviously not a dev and just much much more smooth brain but to that point and because i have seen it 784 01:19:48,318 --> 01:19:53,117 with other chains when there's a failure to have kind of basic tooling like that like the block 785 01:19:53,117 --> 01:19:58,877 explorer for example and a failure to have that early on uh and you may be hoping that oh well 786 01:19:58,877 --> 01:20:04,237 somebody would just build it that sometimes a simple thing like that which you maybe put some 787 01:20:04,237 --> 01:20:09,278 time and energy into just build at the beginning can kind of allow this bootstrapping to take place 788 01:20:09,278 --> 01:20:13,918 in a much quicker and easier manner and actually be welcoming to builders if you know what i'm 789 01:20:13,918 --> 01:20:17,678 saying so just to give a kind of outside perspective on how to maybe think about it 790 01:20:19,522 --> 01:20:27,602 yeah i think that's a good totally good um totally valid point of view i think certainly 791 01:20:27,602 --> 01:20:35,281 a block explorer is not that hard to build it's just my opinion come on man you've never built 792 01:20:35,281 --> 01:20:40,562 a block explorer bro well it depends on how you want it to look like really really beautiful 793 01:20:41,521 --> 01:20:47,201 i built a block explorer you just indexed everything in a database in your table 794 01:20:50,242 --> 01:20:53,442 that's somebody who hasn't built a block explorer dude that is you 795 01:20:53,442 --> 01:21:00,082 that's your that's a dev how hard can it be it's just if i can just maybe uh show 796 01:21:00,082 --> 01:21:05,762 really quick i'm out of shiller but i did build a block explorer for BitNames and thunder 797 01:21:06,481 --> 01:21:12,802 i it's just for the two okay and it's you did it in a few days you're and i know you're saying 798 01:21:13,442 --> 01:21:18,242 but because it doesn't make my point in a way no because it's the simplest thing you could do 799 01:21:18,242 --> 01:21:23,521 and it was very difficult and i'm saying that if doing a block explorer takes that much effort 800 01:21:23,521 --> 01:21:27,282 how are people going to be able to do anything more complicated and and that's the point 801 01:21:28,242 --> 01:21:35,602 standard of comparison is is not again because you know nirvana is not for this world so if 802 01:21:35,602 --> 01:21:42,962 you were hoping for perfection then but i think that's not the point the point is um i mean i 803 01:21:42,962 --> 01:21:47,521 disagree that that's the point which is to say you know again when you climb to the top of the tower 804 01:21:47,521 --> 01:21:50,642 when you want to build the next part you always think why didn't anyone do this part yet 805 01:21:51,362 --> 01:21:55,922 but then um so i think there probably will be a block explorer you know before 806 01:21:56,481 --> 01:22:00,882 for the L2 chains before august so that's the primary thing you wanted to ask about 807 01:22:01,841 --> 01:22:07,841 but i think the question how hard is it to build compared to what i think it's completely missing 808 01:22:07,841 --> 01:22:14,161 the point to say how you know how you have let's imagine that you wanted to build a block explorer 809 01:22:14,161 --> 01:22:19,042 for something on btc that's scaled to eight billion people well there is no it's impossible 810 01:22:19,362 --> 01:22:24,882 there'll be an infinite cost so i think it misses the point but uh i think but this is 811 01:22:24,882 --> 01:22:30,961 totally fair and this is what i said is that when you building the tech stack everyone takes 812 01:22:31,681 --> 01:22:36,241 for granted this stuff that's already there and then they say well this this new stuff is not 813 01:22:36,241 --> 01:22:41,841 there yet and um that's but that feeling is never going to go away even in after 100 years people 814 01:22:41,841 --> 01:22:45,601 are going to say why it is you know just you can look at it now where people this is what we a lot 815 01:22:45,601 --> 01:22:50,481 of the technical people talk about in btc they say oh well yeah all this stuff works hd wallets 816 01:22:50,481 --> 01:22:57,282 work etc works but we don't have ctv or we don't have whatever so everyone's trying to push the 817 01:22:58,882 --> 01:23:02,722 to the next rung because i i'm really not talking about like the tower at this point you're talking 818 01:23:02,722 --> 01:23:06,241 about the top of the tower and i'm talking about like the base like the ground level like we're 819 01:23:06,241 --> 01:23:10,802 still like we're still on the ground right now well i'm saying you would run the full node for 820 01:23:10,802 --> 01:23:15,282 sunder which you can do by just clicking some buttons and that would get you up to the top 821 01:23:15,282 --> 01:23:18,722 of the tower basically and then you say well why do i have to do this why can't i just do 822 01:23:19,522 --> 01:23:23,841 an api to some someone else who has which you could build yourself 823 01:23:26,002 --> 01:23:30,241 i'll give you like a really quick second example besides the block explorer is the i because i just 824 01:23:30,241 --> 01:23:37,681 um have been working with your new mobile app which is fantastic um but it's clearly obvious 825 01:23:37,681 --> 01:23:43,601 the first thing i noticed that it only supports the signet and the question would be well is it 826 01:23:43,601 --> 01:23:48,642 going to support the Drivechains any of them and that's of course but you're it's only 10 days 827 01:23:50,642 --> 01:23:55,522 of course yes of course but do you know how because to support the other Drivechains you 828 01:23:55,522 --> 01:24:02,082 will need apis and i built those two all right yeah i agree there's nothing none none of this 829 01:24:02,082 --> 01:24:08,321 is true fpv is slightly different very similar but that's a it's a client server idea so you 830 01:24:08,321 --> 01:24:13,362 could call it and you could call it an api if you wanted to um i think but that would be fine 831 01:24:13,362 --> 01:24:19,442 i'm not complaining about that when you have a light wallet yeah it is very much just similar 832 01:24:19,442 --> 01:24:26,321 to a client server even though it's not it's not like that is for like the money part which as you 833 01:24:26,321 --> 01:24:31,121 said is very mature and i agree with that spv works very well but what about you need to know 834 01:24:31,121 --> 01:24:35,042 the state i agree with what you're saying you're saying basically like okay the mobile app the way 835 01:24:35,121 --> 01:24:40,322 mobile app would normally work okay go ahead fine no no i'm just gonna say like i'm because 836 01:24:40,322 --> 01:24:45,202 the s you said fpv and i agree and i want to just note that i do agree with yeah we do agree we 837 01:24:45,202 --> 01:24:50,641 agree mostly and i completely agree the mobile app will come with it there will be like requests for 838 01:24:50,641 --> 01:24:56,482 different rpcs and the whole thing will will evolve but what i will say is that um like 839 01:24:56,482 --> 01:25:01,602 specifically let's say BitNames just taking one Drivechain that that has really nice features i 840 01:25:01,602 --> 01:25:05,921 think it's the most feature rich so i've kind of been focusing on that one and i'm enjoying it i'm 841 01:25:05,921 --> 01:25:13,681 enjoying just exploring BitNames but that goes way beyond spv spv doesn't do shit for BitNames 842 01:25:13,681 --> 01:25:18,482 and i'm saying i think you're dismissing you you're kind of like you're making it seem like 843 01:25:18,482 --> 01:25:23,442 it's it's it's obvious that this will happen and i'm telling you i've already started i've got the 844 01:25:23,442 --> 01:25:27,762 wheels moving and i'm telling you this is not trivial any of this and i'm looking at the time 845 01:25:28,081 --> 01:25:33,762 i wouldn't be that trivial it doesn't have to be ready by august also remember like you know 60 days 846 01:25:33,762 --> 01:25:40,241 exactly i'm sorry i didn't hear that part no i just said you have less than 60 days to pull it 847 01:25:40,241 --> 01:25:47,361 off it's not that you have months to do this so it's also the L2s will launch in that's a very 848 01:25:47,361 --> 01:25:54,882 good point that you brought that up um so like i'm thinking like thunder and zSide will be 849 01:25:55,841 --> 01:26:04,641 like fully like production ready before the fork date in august now the others will be kind of like 850 01:26:04,641 --> 01:26:10,322 you know they will be in various stages intermediate stages so some of them are really 851 01:26:10,322 --> 01:26:16,961 hard that prediction markets one will take a little bit of thought and a lot of trial and 852 01:26:16,961 --> 01:26:22,081 error you know it'll take a lot of uh it'll take a lot of effort that's talk about not being trivial 853 01:26:22,961 --> 01:26:27,282 so i think BitNames are kind of like a little in the in the middle of the pack 854 01:26:27,282 --> 01:26:31,921 and so they may not it's theoretically possible that we just launch it and it's just not finished 855 01:26:31,921 --> 01:26:38,081 until october or november for me and that's fine that's fine doesn't matter fine but i feel like 856 01:26:38,081 --> 01:26:44,241 BitNames is like the most important one because like i think that's like the identity and that 857 01:26:44,241 --> 01:26:48,002 could you know i like BitNames a lot i think it's i think it'll take a while for people to come 858 01:26:48,322 --> 01:26:54,002 around i tried it we've been talking about it a lot in these spaces so i think you get it i think 859 01:26:54,002 --> 01:26:58,641 a lot of people need more creativity and the imagination to really like wrap their heads 860 01:26:58,641 --> 01:27:03,442 around why for example Namecoin was the first altcoin it was co-invented by satoshi and so 861 01:27:03,442 --> 01:27:07,921 they were also thinking along those lines like this is like a cool idea which it absolutely is 862 01:27:08,562 --> 01:27:14,482 and um so i think that's a really cool one but of course scaling and privacy because we just 863 01:27:14,482 --> 01:27:21,521 take advantage of other people's you know tech and it's like the the rust crate system and stuff 864 01:27:22,081 --> 01:27:28,882 those are i think are a little easier to make reliable and they already are reliable like today 865 01:27:28,882 --> 01:27:34,641 so those i see those as kind of like the bread and butter basically of like okay BIP300 now you 866 01:27:34,641 --> 01:27:39,042 don't have a block size limit you don't have a scaling you don't have a liquid lightning liquidity 867 01:27:39,042 --> 01:27:43,602 blah blah blah all those problems are gone and then you also have access to super strong privacy 868 01:27:43,602 --> 01:27:49,042 that already puts us like you know you know much better than btc much better than most other 869 01:27:49,042 --> 01:27:55,841 projects how do you actually um use these things because like for me i would i would you know 870 01:27:55,841 --> 01:28:03,202 expect those features to be available in in your new mobile app and and i just i don't 871 01:28:06,401 --> 01:28:10,722 to have that ready by the launch date and i know you're saying you know you'll have something ready 872 01:28:11,361 --> 01:28:19,521 but i i would encourage you know more i i would say attention to be made in making useful things 873 01:28:19,521 --> 01:28:24,401 at the time of the launch specifically i think BitNames is really important where people can 874 01:28:24,401 --> 01:28:29,521 register new identities get their you know get their name you know name they want register it 875 01:28:29,521 --> 01:28:34,241 at the at the launch date and and i don't think they're going to do that with with the bit window 876 01:28:34,241 --> 01:28:39,841 because that's a desktop application so i really like i'm taking this opportunity to just really 877 01:28:39,841 --> 01:28:45,841 encourage you to see that BitNames gets integrated at in some level some basic level 878 01:28:45,841 --> 01:28:53,281 into the uh the eCash mobile wallet but to do that i agree i agree and if you do build those 879 01:28:53,281 --> 01:28:58,562 apis that i would oh there will eventually be there will eventually be apis i i just want to 880 01:28:58,562 --> 01:29:04,882 say i i hope i think this is like private apis like i if you do make apis for the app for the 881 01:29:04,882 --> 01:29:08,562 eCash app which you will have to do if you want to you know integrate BitName i just i would 882 01:29:08,562 --> 01:29:13,281 encourage you to make those apis public for all builders okay we will that's the last thing i 883 01:29:13,281 --> 01:29:21,041 want to promise you that we will and what i would like to say is i i thrive on high expectations 884 01:29:21,041 --> 01:29:30,962 so so i like this is great um raise those expectations to the sky but it is only 10 days 885 01:29:31,762 --> 01:29:38,082 into the mobile app so it's this is day 10 there was no remember we had red wallet before 886 01:29:38,082 --> 01:29:42,962 red wallet you know it was okay you could send to receive coins on L1 it kind of sucked it was 887 01:29:42,962 --> 01:29:48,241 like an electron a really really good job with the mobile wallet i um i submitted um i know 888 01:29:48,241 --> 01:29:54,562 yesterday was the last day for the um the bounty i i just i was gonna do it this weekend but um i 889 01:29:54,562 --> 01:29:59,202 ran out of time but i i spent like all day yesterday and i found a few enhancements i thought 890 01:29:59,202 --> 01:30:05,121 were we i i thought valuable at this point because um like it was very hard for me to get the mobile 891 01:30:05,121 --> 01:30:12,002 app installed um i had to build it myself and compile it myself so i created a i created we 892 01:30:12,002 --> 01:30:21,361 have to make it i created a workflow for github and i sent you a pr um with all my bug stuff 893 01:30:21,361 --> 01:30:28,322 um i sent you a pr really hoping you may you know um integrate it because that will allow people to 894 01:30:28,322 --> 01:30:33,921 just um you know install the apk you know from from your repo as opposed to having a bill and 895 01:30:33,921 --> 01:30:38,962 build it themselves and the things you can't build it um you can only build it with a mac 896 01:30:38,962 --> 01:30:43,281 because you guys use i think what you use with the architecture you use it you need a mac to 897 01:30:43,281 --> 01:30:47,681 compile it and i didn't even my mac was too old it was like your your mac is too old you need to 898 01:30:47,681 --> 01:30:53,041 upgrade i was like i can't upgrade so um but i created a github workflow and i sent you a pr 899 01:30:53,041 --> 01:31:00,161 um if you you know if you join the pr um it'll build your um apk for you and it'll be available 900 01:31:00,161 --> 01:31:04,882 in the repo in the eCash repo that anyone can just download you know right to their phone and 901 01:31:04,882 --> 01:31:09,041 i think that's important because people really need to be like engaging with this stuff early 902 01:31:09,041 --> 01:31:13,281 so that you can get feedback and then we can you know start you know getting more traction i would 903 01:31:13,281 --> 01:31:19,121 say but um but i really you know i just wanted to um encourage that you know there's more like real 904 01:31:19,121 --> 01:31:24,241 usage not just talking about the chains but actually like using them and and the eCash 905 01:31:24,241 --> 01:31:29,842 mobile app is is just it's beautiful already um i've been playing with it and um and i just i 906 01:31:29,842 --> 01:31:34,322 would love to see that you know integrated better with the Drivechains not just the signet 907 01:31:35,681 --> 01:31:38,562 i know me too no i completely agree you're 100 right 908 01:31:43,121 --> 01:31:47,361 look at that scholar and then again i really have to go at four this time so we only have 909 01:31:48,082 --> 01:31:54,481 28 minutes uh so if anyone wants to say something just pop up quick uh i just want to say that um 910 01:31:54,481 --> 01:31:59,041 i have to run uh i have some good news actually uh my father is getting out of the hospital i don't 911 01:31:59,041 --> 01:32:04,161 know if i told anybody this the other day um but he was getting his pacemaker in he had all sorts 912 01:32:04,161 --> 01:32:10,082 of heart issues and blood pressure issues uh he's been in the hospital for about a week now um i 913 01:32:10,082 --> 01:32:15,842 just got the phone call he's getting discharged so uh today's a good day that's good yeah it's 914 01:32:15,842 --> 01:32:18,882 great it's good news so he's gonna be home this weekend he missed father's day he was real upset 915 01:32:18,882 --> 01:32:23,681 about that but he'll be home um today and he'll be home this weekend so treat him up for something 916 01:32:23,681 --> 01:32:28,161 nice um but i think this was a great space uh thank you philip and co-host thank you for having 917 01:32:28,161 --> 01:32:33,281 me up here and i hope to be available for the next one thanks for joining 918 01:32:33,281 --> 01:32:51,361 okay we got decentralized no e now we're gonna go wild i can tell i'm degentralena this week i 919 01:32:51,361 --> 01:32:57,121 had a sex change so if you guys feel like sucking on my toes my of link is in the bio um no so 920 01:32:57,121 --> 01:33:02,962 question sorry we talked about this last week uh based on sailor's most recent performance uh do 921 01:33:02,962 --> 01:33:07,842 you feel any different yet about giving him five percent of the supply to dump on your head because 922 01:33:07,842 --> 01:33:12,801 he's going to be down bad paul and you know that five percent is going straight into the fucking 923 01:33:12,801 --> 01:33:19,522 order books my guy so is there a reason we're just gonna you know sleepwalk our way giving away 20 924 01:33:19,522 --> 01:33:24,562 percent of the supply to retards like sailor he's gonna sell and it's gonna crater the price and 925 01:33:24,562 --> 01:33:31,762 that means that sailor is gonna get only a tiny tiny amount for all his eCash and then and then 926 01:33:31,762 --> 01:33:38,962 he'll be barred from the eCash realm option two is you take it and you you use it in the treasury 927 01:33:38,962 --> 01:33:44,481 format and don't let it become worthless sold into the market like there's not really an upside here 928 01:33:44,481 --> 01:33:49,442 and given this guy five percent of the supply he's he's not okay but uh you know do you know 929 01:33:49,442 --> 01:33:53,762 we need it in order to actually do something about it which i would almost certainly not do 930 01:33:53,762 --> 01:33:58,082 but even if we wanted to we need a list of all the UTXOs that we know are his 931 01:33:58,562 --> 01:34:02,082 just get the without that you can't even do anything you just get most of it it's fine 932 01:34:02,082 --> 01:34:05,921 you just get three well do you ever do you have that list where's that list i'm sure there's an 933 01:34:05,921 --> 01:34:10,402 address list for some well can someone find it that would help move the conversation if we find 934 01:34:10,402 --> 01:34:15,281 it it doesn't bring this up yes it's a community thing or is this a point i would can't really 935 01:34:15,281 --> 01:34:20,562 bring it up until we find the list which i i'm kind of doubt but you know i have i have a little 936 01:34:20,562 --> 01:34:24,801 bird that told me this and that because you're not the first person to make this joke a little person 937 01:34:24,801 --> 01:34:28,002 oh yeah why don't you try looking over here why aren't you looking over there so there were some 938 01:34:28,002 --> 01:34:34,002 clues but yeah it would need to be like very very very very very demonstrable and the reason we 939 01:34:34,002 --> 01:34:40,721 would take sailors coins is not just because it's because he's you know kind of like um it would be 940 01:34:40,721 --> 01:34:46,801 the reasoning would be something along the lines of he is actually not a bitcoiner he is not he 941 01:34:46,801 --> 01:34:52,082 doesn't want bitcoin to succeed and he doesn't want um or he doesn't know any better so he's 942 01:34:52,082 --> 01:34:57,842 become a danger to himself and others that would be like a lot i just feel like uh like i don't 943 01:34:57,842 --> 01:35:03,681 know like he has nothing to do with the network like you would get more usage even if the tokens 944 01:35:03,681 --> 01:35:10,002 all good fair and square though he bought the same coins we got to respect everyone's property 945 01:35:10,002 --> 01:35:13,842 rights you know it's not really fair and square could you and i issue a completely worthless junk 946 01:35:13,842 --> 01:35:18,721 bond no so is it really fair we can't but we don't know about that one bro how much uh we can 947 01:35:19,121 --> 01:35:24,082 release a junk bond for a hundred dollars and will we sell it to anyone for a hundred dollars in cash 948 01:35:24,082 --> 01:35:27,842 is the question whereas he could sell his for like eighty dollars in cash or whatever whatever they 949 01:35:27,842 --> 01:35:32,082 did i just want to if it doesn't happen i just want to say can we get a list of the names me 950 01:35:32,082 --> 01:35:37,762 dave toshi a couple other intelligent individuals high iq hi big cock motherfuckers so that when it 951 01:35:37,762 --> 01:35:43,041 all goes bad and michael saylor's address is found to have sold all in one clip that we could come 952 01:35:43,041 --> 01:35:48,322 back and be like okay can we have that's fair now i think yeah accountability is good i'm in 953 01:35:48,322 --> 01:35:51,762 favor of accountability that's fair i'll i'll leave it at that but i still think 954 01:35:51,762 --> 01:35:55,041 every week we need to ask you and every week master is going to be down his strategies 955 01:35:56,402 --> 01:36:00,402 and i'm going to say hey paul think about the thing you know that's all i gotta say 956 01:36:00,402 --> 01:36:08,241 i'll be nice to everyone today okay fair enough uh yeah no i don't think it's great that um 957 01:36:08,882 --> 01:36:13,842 i would prefer it if michael saylor wasn't in involved with bitcoin at all i think the price 958 01:36:13,842 --> 01:36:18,322 would be much higher a lot of people say oh where would we be without we would be in a much better 959 01:36:18,322 --> 01:36:22,322 position did you see his tweet the other day he was talking the opposite he was saying without 960 01:36:22,322 --> 01:36:26,562 without companies like strategy bitcoin would never have pumped some shit like that yeah i 961 01:36:26,562 --> 01:36:31,361 completely disagree 100 and uh you know don't let the door hit you on the way like that's the 962 01:36:31,361 --> 01:36:38,882 thing is he thinks um he's so essential you know he's entitled to that opinion i have basically the 963 01:36:38,882 --> 01:36:46,241 opposite opinion i think he doesn't know like what makes bitcoin valuable and uh even his claims 964 01:36:46,241 --> 01:36:51,842 about like his claims he he's made claims that are think about it it's not even it's not even 965 01:36:51,842 --> 01:36:57,442 consistent with what he normally says where he'll say like quote this is the thing he said many 966 01:36:57,442 --> 01:37:01,522 times he said like quote like okay bitcoin is already 200 trillion dollar asset as long as we 967 01:37:01,522 --> 01:37:07,202 don't break it close quote so according to him it's already worth all this amount regardless of 968 01:37:07,202 --> 01:37:13,041 what anyone does including him so that directly god coded bitcoin in his mind like it's so perfect 969 01:37:13,041 --> 01:37:20,082 that like it's pristine and there there will never be a better software like he he clearly 970 01:37:20,082 --> 01:37:26,482 thinks oh micro strategy buying bitcoin that's good for bitcoin he clearly thinks that his 971 01:37:26,482 --> 01:37:34,161 advocacy in trying to stop it from being quote broken close quote he clearly thinks that's good 972 01:37:34,161 --> 01:37:39,362 for so he has a philosophy about what makes bitcoin good and he just i mean he may be too 973 01:37:39,362 --> 01:37:44,722 stupid to realize that's like what he's saying but i yeah i don't know option two paul is this 974 01:37:44,722 --> 01:37:50,001 everyone in the top 50 addresses on the white list are on the claim list you time lock their 975 01:37:50,001 --> 01:37:54,801 shit automatically with the bitcoin script what do you think about that six well i think it's bad 976 01:37:54,801 --> 01:37:59,202 for the project to we want to respect people's we want to say that we will respect people's 977 01:37:59,202 --> 01:38:03,761 property rights with this project there's only one acceptance to toshi paul yeah what do you 978 01:38:03,761 --> 01:38:09,362 if i stop there well because um he the his coins are kind of basically abandoned 979 01:38:10,401 --> 01:38:14,242 um and he might come back from the gas station paul don't don't talk like that 980 01:38:16,161 --> 01:38:23,362 so uh i think also he he kind of left them as like so she sacrificed a lot to make the 981 01:38:23,362 --> 01:38:27,921 project a success and that's also like we're trying to make the project a success so i i think 982 01:38:27,921 --> 01:38:33,521 it's not quite the it's not quite the same thing as saying i don't like that person or that person 983 01:38:33,521 --> 01:38:37,921 you know whatever it's like if all things are considered equal like we shouldn't be taking 984 01:38:37,921 --> 01:38:41,202 sailor we should be taking sailors coins and not satoshi's coins you know what i'm saying 985 01:38:42,242 --> 01:38:44,801 well i mean yeah in a world where you're a good guy here or not 986 01:38:46,401 --> 01:38:51,122 in a in a world where it was like the fungibility was so bad and you know but you see here's the 987 01:38:51,122 --> 01:38:56,161 thing that doesn't actually make any sense because it's partly because think about it if 988 01:38:56,161 --> 01:39:02,161 you could just snap your fingers then maybe that'd be one thing but um what if we were to announce 989 01:39:02,161 --> 01:39:05,921 oh we're taking sailors coins instead of satoshi's coins like we all know satoshi's coins are not 990 01:39:05,921 --> 01:39:10,322 going to move between now and august but say those coins will be moving around and then he could be 991 01:39:10,322 --> 01:39:17,921 saying well okay and here's what if micro strategy says okay we issue a bunch of shares on a continuous 992 01:39:17,921 --> 01:39:23,122 basis you know what i mean like the owner of the actual coins is kind of like a much more fluid and 993 01:39:23,122 --> 01:39:31,041 like confusing abstract set of people if that makes any sense like you know what i mean like 994 01:39:31,041 --> 01:39:36,001 it's like where there's just one owner there's like okay what about the people who own stretch 995 01:39:36,001 --> 01:39:42,242 or the bonds or the convertible debt or whatever so it's like it's just kind of too confusing okay 996 01:39:42,242 --> 01:39:48,242 so you just got to talk to arkham they know all of the addresses uh he concurrently come on think 997 01:39:48,242 --> 01:39:54,161 about it just think about it you're gonna save five percent of the supply paul send me the send 998 01:39:54,161 --> 01:39:58,801 me the list and i will have an arkham account which i don't use because i'm not a fed but 999 01:39:59,842 --> 01:40:04,322 ah does that help it's in this thread above though i pinned it up top okay i will look 1000 01:40:04,322 --> 01:40:09,122 into it thanks thanks boss i'll shut up now you can go back to the boring technical people or 1001 01:40:09,122 --> 01:40:14,962 whatever harry harry come ask him stupid technical questions harry i didn't fall asleep we got 20 1002 01:40:14,962 --> 01:40:21,202 more minutes i actually do have another technical question okay you know it's not appropriate i i'm 1003 01:40:21,202 --> 01:40:28,001 not on telegram as you know um but that is actually the issue is because i i want to really be like 1004 01:40:28,001 --> 01:40:28,322 more 1005 01:40:29,388 --> 01:40:37,388 i guess engaged with like your uh repo and issues and stuff like that um and and i i'm trying to like 1006 01:40:37,388 --> 01:40:42,508 you know kind of get more sense of like your trajectory um your goals and like you know when 1007 01:40:42,508 --> 01:40:46,347 you want things done and and how they're getting done and whatnot but um i know you obviously have 1008 01:40:46,347 --> 01:40:54,828 this bug bounty thing going on um what's like because like for me i i i saw a few messages um 1009 01:40:54,908 --> 01:40:59,788 in your in your issues already that other people same as me don't have telegram like what's the 1010 01:40:59,788 --> 01:41:04,108 alternative for people that want to participate um because i submitted them not really sure if 1011 01:41:04,108 --> 01:41:09,147 you would even accept them because i can't do the whole telegram dance but um can we like just do 1012 01:41:09,147 --> 01:41:14,827 like a btc kind of registration or like is there any alternative to telegram at this point for 1013 01:41:14,827 --> 01:41:21,068 people that wanted to help find bugs uh telegram it's fine um it's not don't worry about that 1014 01:41:21,068 --> 01:41:26,347 if you just send them to me on twitter i will probably get or on they're already in your issues 1015 01:41:26,347 --> 01:41:33,788 like they're formal issues in the specific repos because the thing is um yeah that would be helpful 1016 01:41:33,788 --> 01:41:39,148 thanks it's a matrix server it's like uh open source yeah matrix yeah matrix is good 1017 01:41:39,947 --> 01:41:47,708 it's um eventually there'll be some kind of like forum.eCash.com which will also like matrix is 1018 01:41:47,708 --> 01:41:53,307 nice because you can integrate with like discord and telegram so like it matrix is an aggregator 1019 01:41:53,307 --> 01:41:56,907 of the other socials so like if you're in matrix you're kind of in all of them 1020 01:41:57,548 --> 01:41:58,987 so matrix is kind of cool that way 1021 01:42:04,828 --> 01:42:09,468 i've never set it up but i've seen you know you know communities where they have 1022 01:42:11,708 --> 01:42:17,227 you can have a bridge in a single channel so it's like one giant irc looking chat but it's like it's 1023 01:42:17,227 --> 01:42:21,788 feeding in the discord and the telegram messages exactly tagging the users that were saying it 1024 01:42:21,788 --> 01:42:26,508 exactly so you don't get like the telegram features or the discord features it's just like irc like 1025 01:42:26,508 --> 01:42:31,227 like you said it's just very raw but at least you get the conversation self-hosted server like paul 1026 01:42:31,227 --> 01:42:35,227 you could just have a self-hosted instance of like you guys manage the chat background you don't have 1027 01:42:35,227 --> 01:42:40,828 to rely on discord to shut you down or your shit get deleted or whatever yeah that sounds like a 1028 01:42:40,828 --> 01:42:47,147 very good idea and then the last thing uh paul i get i just i i know you said you're gonna exit 1029 01:42:47,147 --> 01:42:55,147 you know exactly for um this i swear this is the last thing but i did one of my bugs is regarding 1030 01:42:57,307 --> 01:43:04,667 new Drivechain proposals and i did see another uh issue just a couple days ahead of mine for 1031 01:43:04,667 --> 01:43:10,027 the same thing so i i realized like it's definitely an issue where um it's not it's not hitting the 1032 01:43:10,667 --> 01:43:17,708 the signet the L1 is not showing any Drivechain like proposal activity because i i've 1033 01:43:17,708 --> 01:43:24,027 i've submitted mine three times and it hasn't shown up yeah but it has to show up you have to 1034 01:43:24,027 --> 01:43:29,388 mine one block and with the signet you can't mine any blocks so i think that's probably what's going 1035 01:43:29,388 --> 01:43:36,667 it might be a bug but i don't think the server is very unusual so normally you need at least 1036 01:43:36,667 --> 01:43:42,108 one person to mine the m1 transactions for anything to show up at all that's by design 1037 01:43:42,108 --> 01:43:48,667 that's perfectly correct but if the the server doesn't do it then it that you'll never get an 1038 01:43:48,667 --> 01:43:54,348 m1 you'll never get any m2s so then it just won't show up which is exactly what you should very least 1039 01:43:54,348 --> 01:43:59,307 and you you should probably change the messaging um which i i put all this in in the in the issue 1040 01:43:59,307 --> 01:44:06,027 um because the messaging does not the message the messaging is leading you to believe that 1041 01:44:06,268 --> 01:44:15,468 you're done when you submitted it and and i screenshotted the message so you can you know 1042 01:44:15,468 --> 01:44:19,147 see it but um but the messaging then would have to change to let you know that well there's still 1043 01:44:19,147 --> 01:44:24,988 more to do yeah okay that's good that's very helpful we will change that and it is better 1044 01:44:24,988 --> 01:44:29,787 though if people are in the uh i know that you don't like a telegram but we'll get that we'll 1045 01:44:29,787 --> 01:44:33,787 get matrix and discord we'll get all that stuff uh we'll turn all this stuff on at some point 1046 01:44:35,628 --> 01:44:39,787 hopefully soon thanks so much appreciate it thank you thank you 1047 01:44:48,507 --> 01:44:50,347 okay um 1048 01:44:53,787 --> 01:44:59,308 i have a bunch of stuff to do today so if people want to hop up and ask something that would be 1049 01:44:59,388 --> 01:45:04,907 great but otherwise we could end it slightly earlier i'll just fill in the dead air for a 1050 01:45:04,907 --> 01:45:10,588 second while people request uh i was just wondering if you had any uh current up-to-date thoughts uh 1051 01:45:10,588 --> 01:45:15,627 based on today's market activity about postponing the launch perhaps like let's say we're not 1052 01:45:15,627 --> 01:45:19,627 looking really good are you gonna are you just gonna full gung-ho this motherfucker into a dump 1053 01:45:19,627 --> 01:45:23,787 like let's say bitcoin does start dumping like 30k are you still launching eCash in august 1054 01:45:23,787 --> 01:45:24,428 are you gonna wait 1055 01:45:29,148 --> 01:45:35,627 uh i don't think the price would be a reason i think it would be if we are like if the 1056 01:45:36,667 --> 01:45:40,667 if a lot of people like if if i got like some kind of message that said like oh yeah 1057 01:45:40,667 --> 01:45:47,627 like coinbase wants to list the coin but but they need like another month or something so what i 1058 01:45:47,627 --> 01:45:52,988 would do is if there's if there's some kind of problem if there's a good reason we would delay 1059 01:45:52,988 --> 01:45:58,347 at one time probably by like two months so that'd be like the only delay so it's either like late 1060 01:45:58,347 --> 01:46:04,828 august or like late october late october sounds pretty bullish paul i don't know but i gotta 1061 01:46:04,828 --> 01:46:14,907 consult with aaron my uh you know the great um astrological chartist like we have a triple bottom 1062 01:46:14,907 --> 01:46:19,787 on bitcoin uh we are going to go try to liquidate your best friend sailor i think maybe right like 1063 01:46:19,787 --> 01:46:26,667 why not i think i mean i hope that sailor maybe he will like stop talking so loudly after all this 1064 01:46:27,227 --> 01:46:33,467 which would be a big that'd be very bullish for bitcoin i don't know um but uh but yeah i think 1065 01:46:33,467 --> 01:46:39,148 so that's the situation is like because i don't want it to be like oh you know let's delay 10 1066 01:46:39,148 --> 01:46:42,347 minutes 10 minutes and eventually people get fatigued and annoyed by that so if there's 1067 01:46:42,347 --> 01:46:47,388 going to be a delay there's only going to be one delay to end them all and right now i i think 1068 01:46:47,388 --> 01:46:54,988 august is still late august is still fine um but you never know we have to do some we have to do 1069 01:46:54,988 --> 01:47:03,388 some better tests so as i think i mentioned we will be doing like a couple like fake um fake 1070 01:47:03,388 --> 01:47:08,108 hard forks where it's basically like as if the hard fork happened like yesterday and then we'll 1071 01:47:08,108 --> 01:47:15,467 be able to see like okay how prepared is everyone really including ourselves so um we'll see how 1072 01:47:15,467 --> 01:47:20,907 far along we are if we do a delay there will just be one big delay so that's my promise to everyone 1073 01:47:20,907 --> 01:47:25,947 if there's a delay there'll be one big delay and then there won't be any other delays so that's the 1074 01:47:25,947 --> 01:47:30,268 situation i don't think it would be because of the price if anything if the price is super super low 1075 01:47:30,268 --> 01:47:36,828 i would be thinking oh i can now explain to everyone hey btc is crashing and burning so 1076 01:47:36,828 --> 01:47:41,308 this is like the life the lifeboat this is the life raft that's the judo we need paul that is 1077 01:47:41,308 --> 01:47:45,467 the judo okay the internet judo that you are going to need for the next five years of your 1078 01:47:45,467 --> 01:47:55,067 life to make us all millionaires god damn it no but in all fairness i think there's opportunity 1079 01:47:55,067 --> 01:48:01,388 when bitcoin is sort of facing this identity crisis you should not not launch when bitcoin 1080 01:48:01,388 --> 01:48:07,308 is thriving especially if it's a UTXO fork i think if sailor is going to get liquidated there's going 1081 01:48:07,308 --> 01:48:13,308 to be a lot of disillusionment and questioning that will be happening in the community and i 1082 01:48:13,308 --> 01:48:19,787 think eCash has the right solution for it so unless there's an awakening in bitcoin and people 1083 01:48:19,787 --> 01:48:26,108 start activating opcodes and letting builders do their thing i think eCash sort of has the 1084 01:48:26,108 --> 01:48:32,747 solution for whatever it is that will be coming in the next few months in bitcoin and the timing is 1085 01:48:32,747 --> 01:48:36,907 perfect like you couldn't ask for anything better if you launched in the middle of a bull market 1086 01:48:36,907 --> 01:48:44,028 when everything is going up it would be harder to justify the existence of a new coin but i guess 1087 01:48:44,028 --> 01:48:50,747 it's the perfect storm for this hey i've got a question someone said something earlier about 1088 01:48:50,747 --> 01:48:56,747 time locking like btc i just want to know what would be the point of time locking it if you're 1089 01:48:56,747 --> 01:49:02,348 not time locking it and getting anything in return for it you know say like a decentralized like a 1090 01:49:02,348 --> 01:49:06,268 forced like a forced time lock on the launch system like a vested lock you know like it'd 1091 01:49:06,268 --> 01:49:10,427 be like you'd be like okay we know you're gonna dump on us because you guys are all broke cucks 1092 01:49:10,427 --> 01:49:15,228 you know but wait three months and let us get some market activity before you completely destroy the 1093 01:49:15,228 --> 01:49:18,908 chart on day one you know like because they're all gonna come out of nowhere like you could you 1094 01:49:18,908 --> 01:49:25,388 could even be like if balance is fucking you know 1,500 bitcoin or whatever then lock it don't lock 1095 01:49:25,388 --> 01:49:29,067 anybody else's stuff right you could do that because he has control of the genesis block 1096 01:49:29,067 --> 01:49:33,067 and he could you know he's already kind of doing some funky magic so he could do some more funky 1097 01:49:33,067 --> 01:49:37,307 magic i know he's not gonna do that and it was always it was just a joke but the idea being that 1098 01:49:37,307 --> 01:49:42,747 like the people that are getting we're giving 70 of the supply to already hate you guys you 1099 01:49:42,747 --> 01:49:47,307 understand that like trust me i i was there for every bitcoin fork ever and every one of you 1100 01:49:47,307 --> 01:49:51,627 fuckers is gonna dump on me again and i'm okay with that but i don't know if you guys get the 1101 01:49:51,627 --> 01:49:55,867 game yet you know you guys think oh oh we're gonna get this bitcoin airdrop and it's gonna be sick 1102 01:49:55,867 --> 01:50:01,067 and it's gonna go up no dumb asses 50 of the supply with two percent of the liquidity is not 1103 01:50:01,067 --> 01:50:06,507 good math for pumpage right so all i'm trying to get at is people like sailor people like you know 1104 01:50:06,507 --> 01:50:11,148 any of these large bitcoin companies that are anti alt coins automatically right out the gates like 1105 01:50:11,148 --> 01:50:15,627 you know the nvks of the world fuck them take their bitcoin that's my point or make them wait 1106 01:50:15,627 --> 01:50:20,828 make them wait you know make don't let them just dump day one like we i know this is a bitcoin fork 1107 01:50:20,828 --> 01:50:25,148 and we have to do things in the bitcoin world but i think what thing that and this is somebody that 1108 01:50:25,148 --> 01:50:28,908 has forked bitcoin long before today and i'm still managing blockchains and everything but the point 1109 01:50:28,908 --> 01:50:37,148 is we make this mistake that it is still 2017 it is not still 2007 it is now 2026 my guys okay 1110 01:50:37,148 --> 01:50:39,148 gotta update a little bit sometimes right that's all i'm saying 1111 01:50:41,547 --> 01:50:46,987 now don't you think that's a little fucked up and somewhat you know because you got to think about 1112 01:50:46,987 --> 01:50:52,908 it bitcoin is basically a mass cheap asset now you know this is not bitcoin this is eCash eCash 1113 01:50:52,908 --> 01:50:58,348 well whose bitcoin is going to get converted to this eCash is the question everyone's everyone 1114 01:50:58,348 --> 01:51:04,668 that wants that wants to claim it basically participate and users don't even know that 1115 01:51:04,668 --> 01:51:10,187 their bitcoin is about to be converted to eCash don't you think that's a little fucked up it gets 1116 01:51:10,187 --> 01:51:16,987 duplicated duplicated yeah they shouldn't um magic yeah in my opinion yeah yeah it's pretty 1117 01:51:16,987 --> 01:51:22,668 much magic and someone says something about satoshi not moving his coins i i would i would 1118 01:51:22,668 --> 01:51:28,427 possibly reconsider that you know just as a fact you guys think this motherfucker's not watching 1119 01:51:28,427 --> 01:51:32,987 everything and i don't think satoshi even ever said hey i'll never sell my bitcoin i'll never 1120 01:51:32,987 --> 01:51:37,627 move it i'll never do anything with it motherfucking this is this is crypto you know this 1121 01:51:37,627 --> 01:51:44,507 is decentralized crypto we're speaking on and i i do feel you know this mystery magic with this 1122 01:51:45,067 --> 01:51:51,627 bullshit it's fucking wild bro um i don't know what dream everyone's living in but 1123 01:51:52,747 --> 01:51:58,908 this is not the way i just have to say that and for everyone out there what makes you say that 1124 01:52:01,708 --> 01:52:07,708 just imagine like going back to the let's say the exchanges are participating in this 1125 01:52:07,708 --> 01:52:13,947 and everyone who's been stacking sats for the past couple years all their bitcoins just mystery 1126 01:52:13,947 --> 01:52:19,708 converted magically converted to this no dude you get it's free money that is it's like based on 1127 01:52:19,708 --> 01:52:23,307 your bitcoin balance they're printing a whole new chain it has nothing to do with bitcoin other than 1128 01:52:23,307 --> 01:52:27,627 it's using the data of bitcoin holders to print the new chain basically that's that's what you're 1129 01:52:27,627 --> 01:52:31,708 getting you're not duplicating taking anything from anybody everyone's getting free money but 1130 01:52:31,708 --> 01:52:36,268 that's the problem what do you do when you get free money you click sell okay maybe i was 1131 01:52:36,268 --> 01:52:40,668 misinformed all right yeah so so michael saylor has five percent of all bitcoin basically right 1132 01:52:40,668 --> 01:52:45,388 because the federal government is allowing him to print illegal junk bonds to buy up the bitcoin 1133 01:52:45,388 --> 01:52:49,788 and now we're going to go give him five percent of all the eCash for no reason like i just don't 1134 01:52:49,788 --> 01:52:54,908 see the value in it you know yeah okay now i'll do it he disagrees with me i think it's fine i 1135 01:52:54,908 --> 01:53:00,828 think we just want all bitcoiners we want anyone who bought bitcoin to get some free cash because 1136 01:53:02,828 --> 01:53:08,187 i agree but here's the thing is i we're saying he's on the good team until he sells then he's 1137 01:53:08,747 --> 01:53:12,908 determined he's chosen to leave he's left paradise you know the gates of hell 1138 01:53:13,867 --> 01:53:18,588 open from the inside and then i don't remember who said that but i think a german philosopher 1139 01:53:18,588 --> 01:53:23,388 did you guys know that digivice is 40 times faster than bitcoin and actually is working 1140 01:53:23,388 --> 01:53:29,547 on something with timelock called the digidollar world's first truly decentralized stablecoin 1141 01:53:30,348 --> 01:53:36,668 i think everyone should check that out doesn't sound accurate but maybe okay yeah sure yeah so 1142 01:53:36,668 --> 01:53:40,908 i'm pretty sure new shares okay the first actual okay anyways go ahead sorry we got to get to uh 1143 01:53:40,908 --> 01:53:44,187 because it's only six minutes we're gonna get to regular marek all right 1144 01:53:48,427 --> 01:53:55,228 two sorry sorry i said i think it would be good marketing to confiscate sailors coins 1145 01:53:56,107 --> 01:53:59,708 i hope we have another one of these spaces it's a really entertaining ideas i'll pause 1146 01:53:59,708 --> 01:54:03,867 and go in a second so two rapid fire questions sorry this has been answered before um should 1147 01:54:03,867 --> 01:54:09,947 builders interpret um i understand from my i guess reading a little bit of reading that the 1148 01:54:09,947 --> 01:54:15,468 block size is going to be reduced should builders consider that like hostility of the chain towards 1149 01:54:15,468 --> 01:54:21,867 like ordinals and runes and second question would you ever consider reactivating OP_CAT and op mo 1150 01:54:24,507 --> 01:54:29,388 uh yeah absolutely um i would say that i would not worry about it it doesn't actually 1151 01:54:29,388 --> 01:54:35,388 it shouldn't affect i don't think it actually affects ordinals or or runes a lot because you 1152 01:54:35,388 --> 01:54:42,028 just because the ordinals idea is just that each sat is ordered and so the block you know it 1153 01:54:42,028 --> 01:54:46,028 advances the ordering advances a certain amount in each block but it doesn't actually it doesn't 1154 01:54:46,028 --> 01:54:50,348 actually make any difference so i don't think that i don't even see why it would be considered 1155 01:54:50,348 --> 01:54:56,028 hostile well and i would imagine all the activity less room for monkey jpegs right so it's not so 1156 01:54:56,028 --> 01:55:01,388 that's that's a that's a no we shouldn't yeah but you have you get monkey jpegs on all the other 1157 01:55:01,388 --> 01:55:07,708 L2 chains in addition to BitAssets which is like a a playground chain for this this type of thing 1158 01:55:07,708 --> 01:55:16,668 you know so i think it's more pro i think i think by far that you know eCash and BIP300 is more 1159 01:55:16,668 --> 01:55:24,028 pro ordinal is more pro fun certainly than bitcoin core or bitcoin knots i think we would be the 1160 01:55:24,747 --> 01:55:31,148 the leader in being welcoming to all people no matter whatever weird stuff they want to do with 1161 01:55:31,148 --> 01:55:37,468 the blockchain that's kind of what we're all about is doing weird stuff with the blockchain so and 1162 01:55:37,468 --> 01:55:41,547 then a second part of the question i already forgot what it was what was it it was uh ever consider 1163 01:55:41,547 --> 01:55:48,588 reactivating OP_CAT and opmul oh yeah no OP_CAT's great uh we have one of the new chains that a 1164 01:55:48,588 --> 01:55:56,187 friend made so made by a fan is his elements chain this is basically like bitcoin core it's 1165 01:55:56,187 --> 01:56:00,588 a lot like bitcoin core this is elements is a project from Blockstream from like a million 1166 01:56:00,588 --> 01:56:10,028 years ago like literally 2015 and it's basically bitcoin core plus um a bunch of opcodes like OP_CAT 1167 01:56:10,588 --> 01:56:14,507 plus a bunch of other stuff simplicity or whatever that you can like simulate opcodes 1168 01:56:14,507 --> 01:56:22,668 and he also added ctv j he added a ctv in addition to OP_CAT and also the Blockstream 1169 01:56:22,668 --> 01:56:28,747 element stuff so we already have that as an L2 now should we add OP_CAT on L1 well i think yes 1170 01:56:28,747 --> 01:56:34,107 i think L1 should have in particular L1 should have vaults but we're not going to get that anytime 1171 01:56:34,107 --> 01:56:39,388 soon because i'm determined that L1 should mostly copy bitcoin core so we don't have too many points 1172 01:56:39,388 --> 01:56:48,747 of comparison between the two and um as a result uh L1 will probably not have OP_CAT unless btc 1173 01:56:48,747 --> 01:56:57,067 adds OP_CAT in which case we'll just continue to copy bitcoin core and that is very important 1174 01:56:57,067 --> 01:57:02,747 because so well i mean so basically we'll have OP_CAT as a playground in the L2 world 1175 01:57:03,708 --> 01:57:09,627 now is that as good as having it on L1 uh no but you're pretty close and the point is you'll at 1176 01:57:09,627 --> 01:57:15,468 least be able to do something with something that has real money somewhere and you know maybe maybe 1177 01:57:15,468 --> 01:57:21,867 give it a try and that's uh again it's like i wish that we could make stuff even better but it's not 1178 01:57:21,867 --> 01:57:26,747 my fault this bitcoin core is crazy and the miners are crazy everyone's everyone else is crazy so 1179 01:57:27,708 --> 01:57:35,068 but we can at least do it on L2 yes okay i guess i yeah my question was about L1 and uh 1180 01:57:35,707 --> 01:57:42,188 yeah okay so i guess the answer is maybe no leaning well we could do it as a as there's 1181 01:57:42,188 --> 01:57:49,948 a you could have a second qcf second Core Untouched Soft Fork uh next to it and i so i i think that 1182 01:57:49,948 --> 01:57:54,268 would be okay because then we still wouldn't be touching the L1 you know what i mean this is part 1183 01:57:54,268 --> 01:57:57,867 of the power of the soft fork is that you can't stop people from doing it and sometimes you can't 1184 01:57:57,867 --> 01:58:05,148 even detect that they're doing it that's how harmless they are so i think it could be possible 1185 01:58:05,148 --> 01:58:13,788 that eCash would activate BIP300 via qcf and then also activate OP_CAT on L1 and in particular 1186 01:58:13,788 --> 01:58:21,388 i would like there to be vaults on L1 so whatever it takes to have good user-friendly vaults that 1187 01:58:21,388 --> 01:58:24,747 are very easy to use so that the people break into your house and they they're holding a gun to 1188 01:58:24,747 --> 01:58:30,107 your head and they say give us all your bitcoin you say oh i can only give half a percent at a time 1189 01:58:30,987 --> 01:58:35,467 because of this story paul that happened to me uh they don't give a fuck okay they're gonna sit 1190 01:58:35,467 --> 01:58:38,908 there they're gonna wave the gun in your face for hours on end until your wife comes home you're 1191 01:58:38,908 --> 01:58:43,308 gonna panic you're thinking you're gonna think how how the fuck why the fuck did i lock my shit up 1192 01:58:43,308 --> 01:58:46,747 when i could just give them the money right now and they could leave yeah you're gonna you're 1193 01:58:47,308 --> 01:58:51,467 trust me that's what's gonna go through your head um it's a good point but um but actually 1194 01:58:53,707 --> 01:59:02,268 for it to be a deterrent so that you know the first guy maybe it doesn't go great but uh the 1195 01:59:02,268 --> 01:59:06,987 you know because the thing is the thieves they don't want to they want the coins they don't want 1196 01:59:06,987 --> 01:59:12,668 to hurt you so maybe there'll be a rough they want the dollars paul it'd be a rough transition period 1197 01:59:12,668 --> 01:59:18,428 but then you deter future all future theft and what about this we use michael saylor especially 1198 01:59:18,428 --> 01:59:22,347 if you advertise it you could say you could tweet and you could say oh i locked up all my coins in 1199 01:59:22,347 --> 01:59:26,428 this vault then the thieves might pick a different house they're not gonna care though paul here's 1200 01:59:26,428 --> 01:59:30,507 what we do here's what we do i think robin was right we we marketing campaign the michael saylor 1201 01:59:30,507 --> 01:59:35,948 coins we we vault all of them as a use like a proof of of use of you know like look michael 1202 01:59:35,948 --> 01:59:41,068 saylor can only get 0.5 of the supply per year because we time locked it with the vaults isn't 1203 01:59:41,068 --> 01:59:46,188 this great tech and then the price of eCash soars as a result uh while bitcoin dumps because 1204 01:59:46,188 --> 01:59:49,867 he's getting liquidated what do you think about that is that a good like vault strategy would you 1205 01:59:49,867 --> 01:59:55,948 would you uh allow us to steal his coins to make your vaults happen paul think about it think about 1206 01:59:55,948 --> 02:00:00,908 it well i think we have to you know the proposal is missing a lot of details but if we plugged all 1207 02:00:00,908 --> 02:00:07,148 those details in we could consider it robin robin we need those details think about the details 1208 02:00:07,148 --> 02:00:14,028 robin and send him to paul okay he respects you he'll do it trust me spook free eCash 1209 02:00:16,587 --> 02:00:19,548 think about it think about the marketing line spook free that's 1210 02:00:19,548 --> 02:00:21,548 it's hard to say in this space man it's really hard to say 1211 02:00:21,548 --> 02:00:36,507 okay well as i said i have to go but this has been great one more i got one more question 1212 02:00:36,507 --> 02:00:41,548 all right just one more okay i know you got to be but i love you know i think i think this is 1213 02:00:41,548 --> 02:00:45,308 a great space i think we had a wonderful time today i think if we could just dive into real 1214 02:00:45,308 --> 02:00:49,627 quick like what are you going to do if there's a hostile takeover attempt of eCash and how would 1215 02:00:49,627 --> 02:00:53,308 you defend against something like that let's say from a calvin air type figure 1216 02:00:55,788 --> 02:01:02,668 did i beat this can you still hear me can you be more specific like he comes up and he just says 1217 02:01:02,668 --> 02:01:07,948 he's got all the hash he's got all the the illegal dark funds uh he he you know he's got some friends 1218 02:01:07,948 --> 02:01:12,507 on his on his side again uh he's got the fake toshi on his side and he's gonna say hey you 1219 02:01:12,507 --> 02:01:17,227 stole my coins i'm suing you paul you stole my fucking coins okay and then he's gonna say now 1220 02:01:17,227 --> 02:01:23,627 we're buying up hash to uh hard fork eCash into you know eCash gold what are you gonna do 1221 02:01:24,507 --> 02:01:31,467 well there's a legally distinct eCash foundation that's separate from me so uh and then of course 1222 02:01:31,467 --> 02:01:37,068 we didn't steal anything we just gave we created something new and gave it away for free so i kind 1223 02:01:37,068 --> 02:01:45,467 of like my chances so far and of course you know you never know uh when let's say craig's like hey 1224 02:01:45,467 --> 02:01:53,308 i'm fake toshi you know are you are you going to court well if i get i personally get summoned to 1225 02:01:53,308 --> 02:02:00,747 court i'll have to go what if he says print print me what in america yeah yeah i don't think i don't 1226 02:02:00,747 --> 02:02:07,548 think craig will be i don't know it's a funny it's a funny idea there could be lots of people who say 1227 02:02:08,107 --> 02:02:14,188 they're satoshi and so that that that's an interesting legal question 1228 02:02:16,827 --> 02:02:18,908 okay i'll let you go now that's my last stupid question for today 1229 02:02:20,507 --> 02:02:26,107 okay thanks everyone you guys are super great until next week next time it'll be tuesday 1230 02:02:26,107 --> 02:02:35,627 tuesday at two eastern see everyone there goodbye till next time