I'm sorry. Can you guys share me?
Yes, yes, oh man nasty feedback Kim she say say something one more time
Let's go Bobby. Ah, okay. All right. Sorry about that. Yeah, they'll be here in a little bit. Oh gosh, it said that's not working. That the link is not working. Oh boy. They may have to restart that. Yeah, give me one second.
Came in the meantime, how was the conference brother? I heard I was I was I mean professionally for myself I thought it went well ran into a kid I hadn't seen in 13 years the entered crypto and some of the
I entered from the right, he entered from the left and it was very interesting to see how that went. Some people are just meant to be here I guess. I did get a new phone. I would say like understanding our spec.
of like algorithm in Europe based on who I spoke to. Because I like yeah the main stage events are great and everything but those are marketing gimmicks right and that's a perfectly fine market. It's like the one-on-one the small meeting room spaces the banter you get while you're waiting live for things.
three kind of get the solites and nuance of is a person full of shit and it's nice to see that not everyone's trying to just dump their bags like there is a greater purpose to appropriate our presents aside just chilling checkpoints
I can't there's a lot of background noise I think like yeah the city and all that stuff in the background but FD was anyone going to be joining us on your side brother
Yo, yo, what's up, Bobby? I don't know who else you spoke with from other teams, but I'm here with Honey Jar. Okay, okay, okay. So it's just gonna be you on that side.
Yes sir. Okay, okay. Uh, Mr. Producer, you can make FW co-host. Just send him the co-host and write.
I'm speaking should be fine. Either is either is good.
You're getting co-host, man.
Ah, the actual honey cast profiles here
invite them up to speak as well. Yeah, I sent the invites to speak on to the some of the other guys as well on a barrel. I know barrow markets is enabled to to make it today.
Norris Man it's a week and it happens.
I was like, "Glennalabi, I know he's been." Oh, yeah, yeah. Everything's going great, man. You know, meme coins have been doing me pretty great. Made a fat bag off of Peppy. Got rugged on people for like
300 bucks which I mean that's the first time I ever got robbed like ever ever ever oh yeah I wasn't available during shit coin season by that seems like it was a pretty long time yeah it was fun dude like one of our boys from because of it coin snorlax
His boy mentioned Pepe and he posted it at like 300k market cap and then like right when I got into deck screener it pumped from 300k to like 450 and I'm like all right let me just like 8 then half an eath and see what the fuck happens and
And then pretty much like an under 48 hours I turned half an eighth into two BTC and they're like, "Yo, I'm at least to cure one BTC and then just like lock this bitch up and cold storage." So, let me at least do that shit.
Yeah, the rest I'm not going to touch that shit until 25 I think like I think that's going to flip Dogecoin next cycle But after that I Felt with people got rugged on that, but then I got into Pepe printer and that was another bang
outside of that. Almost got into a few rugs, avoided them. And yeah, it's just been fucking shit coin season man and it's been fun. I heard like the conference with consensus
this. Like, Ava is giving a frickin' toaster ovens. Oh, FW, when you say tag, the honey jar, what do you want me to do? Oh, no, just tag the honey jar, we'll just talk about some of the updates going on with our segment. Oh, okay, on the space societal, you want
I wanted to, you want me to put bear chains faces, zero ox honey jar before we get started and all that. Yeah, sure that. Okay, okay. Yeah, I'm. I'm. I was giving up. So, uh, they're giving that they're giving that out as like merch at the event. Oh, it's like
So everybody had like tears and we're together right the usual learn the t-shirts and the stickers and the cups some of them got funky with them with the giveaways I thought that was cute Interesting yeah, I know it's a we're in we're in Japan some of the boys from
And from THJ and there was some dope ass merch by like a flywheel guys Shout out DeFi Dave UDX and all those guys that's a pretty cool works here Yeah, I talked them I talked them up on the on the thing
Mr. Producer just send a co-host invite then to the honey cast so they can get some spotlight in this episode. They don't have to speak by the way like they can just be up there but if they want to speak feel free to do so I know last time that we had them they were having some connection issues but honey cast are you able to hear me brother?
What's it going? I'm already on the same W everybody ready in the chat. Oh, it's going on man. Good to have you good to have you appreciate you guys a host in the spaces let now lend off this should I take I take co host from F Dub and give it to the honey cast. Yeah. Yeah. Yeah, that's fine. Oh, thanks.
You can keep it WS Co-host, that's fine. Yeah, you can use this job. Yeah, so quick last bit. My biggest takeaway from the contention was that the regulatory compliance is coming in heavy and hot, but not in a bad way. In a way, it's just like, all right, this is maturing, this is not no longer an insectivic part of our world.
So that's the maturity. Yeah. Yeah. I think like when you're having normies, workbooths and don't even know about like the protocol they're working for, they only say that it's like privacy. I think it's a telltale sign that like actual retail workers are now going into
what people are calling Web 3. So the big thing is the infrastructure choke points so that's the payment, gateways and processors. They don't understand the jargon, they're hiring like quote unquote blockchain experts, they're blockchain developers so that's like you don't hire for shit and giggles.
Yeah, yeah, yeah, all right guys. Um, yeah, roll the clip on the YouTube thing and then just give me a thumbs up of when I can give the introduction and all that stuff very professional purposes.
What's up everyone, welcome to another edition of Crypto Old Radio, good morning, good afternoon, good evening wherever you are. My name is King Wabi and I want to welcome you to another edition of our Because Bitcoin Twitter Spaces. I want to give a shout out to our sponsor for today's show, Nolis Protocol.
up here on the nest and you can also find a description about them down below. They are the world's first DeFi lease so feel free to check them out. And as usual, replay of this specific space will be uploaded onto our YouTube. But for you guys listening here on Twitter, you guys can check out the replay after this
down there on the audience. Of course, as usual, feel free to retweet the space so we can get more of the barren trade community up in here. It is conference season, so today's show is going to be a little bit more smaller. But nonetheless, man, FDUB, I want to welcome you back on, Honeycast, you guys as well. How are you guys feeling?
Hello and hello, Bobby man. Thank you for having us. Appreciate it, man. It's some interesting updates definitely going on. It is conferences and other you mentioned it right. Japan just finished now. It's consensus over in Austin. But some cool things are cooking up in the
recently hosted dev bear and smoky on your guys' bases. So what I'd love to know about what sort of alpha drops and leaks were being hosted on that space man if you can share with us.
Yeah, we had both of them on the hot bunny cast not too long ago and after the Polaris Street that they had for a hack summit, I think it was March 31st and April 1st. Yeah, we just sort of chatted, sort of summarized what happened in
The Polaris broadcast that was interested is over on the Honey jar and the Honeycast YouTube channel basically just highlighting proof of liquidity consensus and what Polaris is going to be bringing to you know, it's for for causes of the income and ability
And on 420, you said the Vericene Foundation, but the first press release, which was announcing on 420 that they raised 42 AMS with the 420.69 million valuation. So that was pretty interesting.
It's on, I guess, the bear aside. And for the honey jar, we actually just launched our second mint, which is pretty interesting as well, that's currently going on.
Sick dude, that's that's essentially like half of the Valuation from some of these other L1s that are gonna be releasing and I understand that like Veracame is gonna be launched as an L1 But I kind of think of it as its own like ecosystem dude like its own its own chain of fun. I don't
really consider it as a part of like the L1 ecosystem like your phantom, your harmonies and all that other stuff I kind of feel that like it's going to be its own separate thing and not really be intermingled with those ecosystems right because back in the previous bull market like you know your A-vaxes or Salinas they were all
Intermingled with one another and it was just like a constant rotation right like you had a group of guys From Tara that would go to Solana and then they would go to Avax and it would just be like that same pool of liquidity shifting over from chain to chain But I feel like bear chain is sort of building out its own
infrastructure and the precipice of that like the the basis of that is just fun right it's not really promising much but it's good to see like some things are starting to become more public and you know there are some rumors heading about that main net that name
that perhaps would be joining some of the other new chains that are launching over the summertime. I know, like, say and Sui are going to be launching in the summertime. So wouldn't it be cool? Wouldn't it be cool if Maynet on bear chain were to happen over the summertime? And so instead of it being
You know, um, what was it like Soluna Vax? It would be like SSB right like so we say so we say Barra right Who knows I mean like nothing's really come out yet, but that would be cool timing if that were to be the case I don't I'm not really privy to that at the moment, but yeah, there's a lot of people
building, lot of cool protocols and projects. So it would be cool to have me. There was there was the meme going on because obviously the bear is like the meme numbers like 3, 3, 4, 20, which actually came true. And the other meme day was maybe hoping for the expected test net on 6, 9,
Who knows that would be kind of fun though. Oh man. I think that was a bit of a leak there after. No, no, no, exactly. That's just the beat. I had to hit you with that, bro. I had to hit you with the soundboard.
Yeah, these sound effects are actually hilarious. We've been doing more of the spaces and like, is a full on board. Some of them like really hit and then others just sort of fall flat, but. Yeah, man. So for the guy in the honey cast profile, how are you doing today brother? Welcome.
I'm doing well brother, all good things, you know, getting things rolling with the honey jar. They just announced a fairly large cold to eat up a fair share of the honey jar and a lot of products that they have going on and that's a
It's a pretty big thing for the bare ecosystem, just carrying on the cult, inspiring a lot of people to come and build and just the hive mentality really gets brewing when you incentivize a lot of different things. It's going to be a really huge mint, like 69,000 and up teasers, no.
There's no easy feat 16,000. Yeah, there's no easy feat so like they're in center with the manner of
The manner that colds going about providing values is really interesting to see. It's really fun to see. Season good means a lot of new stuff coming about. And that's really interesting for the THJ, just see how hard they can push these. This carnival of madness, all this fun. And ultimately it promotes
more inclusive environment for everyone trying to get involved in Pre-Bera.
the pre-bearer era as we call it, you know, so it's really, it's really fun. Exciting times for everyone to go. The rumbling man, I see that's Barishian is trying to add to the lore with their animation show.
And it'd be pretty sick if you guys were included into all that man. Yeah, there's a lot of things that there's go go hard with it to enemy. I don't know if you ever heard of second self, but we have a lot of the OG bond community has a
has a history of dealing with anime projects naturally through with their chain. Really fun stuff. Second self, shout out to those guys, they made all the OGs some honorary that they're going to do their own private studio on not show an anime.
That was a while ago. It was not bear chain related, but...
is its own private. It just goes to show that the bears have been around for a long time in the ether.
after were you going to say something brother? No, no, I was going to say just to add on to what you were talking about there. With the Honey Jar, we were really focusing on that gentleman with the call to the service and now you're sort of seeing that spread out with Gen 2 with I know you're trying to get Maggene Dow. So they're like almost like a
sub-dow who are sort of trying to capture that sort of community aspect and mean culture as well within even the Honey jar. So it's interesting, Locky, we're coming, building and trying to just capture that energy pre-bear, which is dope to see.
I think something interesting would be like if for the bear chain animation if they had some well-known community members participating in that show and just bring the heat man. I've got an idea for a character. Have you ever seen Afro Samurai? Yes sir.
Yeah, well, you know the character that's on me all Jackson plays the older Samurai Yeah, I do Yeah, yeah, yeah, Ninja Ninja dude, I have a perfect idea that I would love to throw to throw out their way So if like if smoky is gonna be Afro and
and he's only going to be a man of a few words. I was thinking of a character that would be like his ninja ninja, but he would only speak Japanese, right? Like he would only speak Japanese, right? And I've got some ideas. I've got some ideas, man.
That's exciting. I mean, did you hit him up the chin? You never know man. I did. I did. I told them, uh, damn, that looks sick man. That's a, you want me to share that up on the nest? Would you just send me? Yeah, yeah, for sure. Where was that dead? That's my mother fucking dad, dog.
Yeah, we had no, he was talking about the chin that he was talking about, uh, smock, which you would call you. I'm out, uh, no, some of the honeydewers. But I look sick, man. And I, uh, I had a, I had a space with, uh, insert finance yesterday. I found it pretty cool.
Yeah, they're gonna like try to collaborate with you guys and I found that pretty sick man and like the dev is like six foot six man that was like he's a beast man. He was making he was turning heads and consensus man. You know what I'm saying? Yeah, the insert dudes are
They're awesome. They're Chad's, you know, fractionalizing some of the NFTs. They did that with two of the Bongs. So far, Howard Bong there's for sure. Yeah, they split them up in a 420, which is dope and got some cool stuff cooking up honestly.
Yeah, I find what they're doing pretty cool with the whole fractionalized NFTs and their shard vaults and all that. They kind of have like this first mover advantage in NFT 5 because typically what we're seeing right now
Now, typically what you see in the first wave in innovation with new ideas is proof of concept. And then when that proof of concept is released, you often have imitators. And oftentimes what you'll have is like
The person with your original idea will fail and then the others will lead off of that right and I feel like that's what we've seen in previous cycles like for example in 2017 you had all the fake oh ones right the try to be eithkillers you had your nails you had your aings you had your
wall chains and that didn't really work out but then off of the backbone you know, Fansom, Harmony, Avax came out and you know, I mean that's not saying right the first one through the door gets the bloody nose
That's very interesting. That's a very interesting statement. And with NFT fights, it's sort of like everyone's trying to just do borrowing and lending and they don't know how to go about it. Like, is it USD prices at the
floor price because if it's the floor price then what you end up having is like if someone just jeets a piece of an NFT collection under floor price right at your liquidation level you're done for and I feel like with what they're doing to sort of mitigate that is a is very interesting
But after I wanted to know, man, how do you envision bear chain? Like, say like next summer, like, how do you envision it? Like, for, and I can give you my thoughts, like, I envision bear chain is like this, this fun hub.
Right? So like what we saw with Harmony on DeFi Kingdoms about like 10 times more offerings instead of just like one depth. Yeah, I think by my next year if it's out it's gonna be
Yeah, like you said like a playground to do what you want There's gonna be a lot of sticky liquidity. It's gonna be a lot of different apps you're gonna be able to use and Just have that you know IBC connection with all these different blockchains and I think people are gonna have a lot of a lot of flexibility especially with
some of the try token system with BGT, honey and beara and things would be some interesting yields going on some interesting, you know, NFTs that would be popping up in use cases so exciting things to come especially if the pre chain is any indication of all that so
Give me one second man. I'm trying to pin this up on the nest man Thank the messers that you sent me
Yeah, for sure. Yeah, okay. It's it's pinned up there man. It's pinned up there. Yeah, if you want to if you want to talk about that feel free to do so man. Stage is uh, stages all yours in this small community space brother. Yeah, for sure. Um, so pretty much the Ch. J. We're on our second our second
generation right now, we move from honeycombs to honey jars and pretty much the theme is sort of bears versus apes to an extent and basically after all the jars have been completed and mint is done, there's basically a round
500 either worth of, you know, these NFT collections and it's sort of like the original Bear NFTs, which is 1 OG, 1 Bon Bear, 2 Boo Bears, 4 babies, 8 band 16 bits, for one person who has one of the Honey Jars, and as well, the whole
sort of Yuga collection going from the original board ape to the sewer passes. So that's basically what the what the second gen, I guess the big reward is apart from also leading into the seventh generation, which is going to go to the honeydow.
And we run our really leaking too much on that, but basically the honeycomb the original gen 1 genesis is going to be the original sort of entry and then the following six stars, which are going to be cross chain are basically going to be diminishing supply, which then when you
read you into the honeydow. So this is our second iteration and we're really looking forward to seeing the honeydow come through. So it's currently live. I think Wabi has a link. And yeah, exciting thanks.
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Did you guys hear the soundboard? Yeah, the soundboard is it? Okay, good good good because I was I was on mute. I wanted to add something right after you said that man. Well, man.
I didn't want to touch upon one thing when you said
bears vs. apes. I was thinking like what if there was a fighting game? There was this game back then called a Bloody Roar and it was like a mixture of Tekken and this one Capcom game.
escapes me, but I think it would be pretty sick for a crypto fighting game to come out. I feel like it would have to come from the NFC community, right? I think that's the real play to earn.
and you know, fighters. I think fighters are one of them. I think that's like one of the things that would attract players to play to earn. So you guys have the memes. I commend you guys for that.
And we're trying to do some fun stuff like that too. We introduced this marathon lids, so we're sort of using like a game, a physical representation of governance. So when people vote, for example, on the Honey Jar site, with their
they're Gen 1 Honeycomb or they're Honey Jarries. There's a little visual representation of governance, which is pretty cool. It's not fighting it per se, it's a visual racer. But yeah, there definitely are people building new games. It's very exciting.
When I love this soundboard. I noticed you guys use that for for the honey cast You guys say like to there it is Yeah, I know there's some people who do like custom boards, but Haven't got into that yet
Yeah, man, then so when do you think the actual like bear chain my paper is actually gonna come out brother unless it unless it came out recently because I I have been out of out of
the loop since pretty much that space that you guys did and then of course like I found out about the funding and all that but I've predominantly been out of the loop with some of the other stuff like because anything technical come out recently
No official papers or anything on the bear chain teams front have really come out yet, but like I said, we can link you the Polaris stream during the Hackslomit and he goes dev goes a little bit in depth into some of the mechanics which should probably be the latest update.
anything else hasn't really been released yet.
It doesn't seem like that in my voice, bro. I've just been talking so much, dude, that like if I get into my usual like hype voice, I think I might lose my voice and I do not want to get to that point. So excuse the modest excuse the monotone this man, but
much of it is on break, huh? Dude, I have not taken a break, man. I'm trying to get some momentum going into Bitcoin Miami. Is that end of the month? No, no, that's the middle of May.
I'm primarily gonna go there broke because like Arthur Hase is gonna be there and I like Arthur. He's an excellent market maker and You know this price action that we've been seeing all year is very reminiscent of his last like ride in market-made
which was like first half of 2019. And I mean that's what it's looking like man, like I love the pump, too. 2022 was like such a shit year man to be honest and you know now you're starting to see some life, you're starting to see memes run and a lot of the
and the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end of the end#
Like a full concise feeling yet because I feel like there could be something like lards that happens macro I Personally feel like there might be a slight dip, but you know I'm not a trucker
Yeah, me neither man. I just I just go on past cycles dude like for 2022 my whole thing was like oh stuff is here I'll bring him up as well stuff he's always a blast to come on up man especially in these smaller spaces I feel like everyone is like party down today after consensus
man like they don't even want to use Twitter dude and I've always wondered like is Twitter always going to be the main hub for crypto because it's not discord I can tell you that I can tell you that it's not discord like I feel like discord is sort of like small niche communities
And you'll have like a bunch of people piling up on a discord and then like and then like after six months Like most of them won't even be there and with telegram it's such a spammy app like it's just a bunch of people talking at once and it's like you have to scroll up
Scroll up, scroll up and unless you're tagged you won't really know what's going on in that channel, right? So it's sort of like outside of Twitter What else is like the crypto hub? I think it will remain Twitter, right? Like why not I mean crypto shop that makes some social media platforms
So far those of all fail I don't know something will emerge, but why not Twitter? We just got to get the bull run back going get people back pop it is a good mood and stuff and uh The big coin keeps running I think that's what we started. Dude Apple Apple is like is like a good day away from making an all-time high
Speaking of Apple, we have the King of Buying All Stock Bottoms in the Crypto Sphere. Sefi, what is going on, bro? You killed it once again. Apple is up 35% year to date, man. What is going on? Well, I've had Apple since like the dot com.
crash so fuck all of you oh my god what was that noise that was the rainfall one that was that was though that was the worst one yet man but
I can't hear Sefi at all. I guess not. Yeah, he can't. Yeah, he's not able to hear you premise premise. Restart your app and then once you come back in the room,
I'll send you an invite to speak and then just join through there. That's how I brought up Sefi. So just drop to listener, close the app and then open it back up. We got to make this thing open source, bro. Twitter has to be something that
other individuals can work on and then submit what they want to apply and then you know that can undergo a...
before he stole the hell, I guess.
He didn't sell out, he invited too much bureaucracy and to start up a novel. It was meant to be open source, the spirit.
Yeah, I think it'll be Twitter still for for the time being unless there's a competitor that pops up that's like Web 3 native, but I don't know I feel like when people are gonna join they're gonna go to the first app that's gonna be lively to talk about it
I feel like it's still Twitter for now. But, um, oh, uh, while you guys are here, um, I haven't heard the, the bearer chain elevator pitch like, what's the point and what and like, how do we get involved exactly?
That's a bathtub man. Aftab go ahead brother. You're the man leading the charge outside of smokey and dev bear. I think aftab is like the guy. Oh no, I'm for sure but I'm okay so you're in a little bit. I mean just when you think
about like all of these chains that are coming around, right? Some of them are interoperable. There are some of them even incompatible. Some of them are coming up, but they're on consensus. They're on consensus mechanisms. Just everyone's coming up with their own, right? Nobody's saying that.
layer change perfect essentially what what their chain can do is connect everyone in a seamless manner right where there's that liquidity layer that bribe layer that can just really bridge a seamless bridge between all of these L ones and still be still be a secure as possible
And essentially be as user, um, dev friendly as possible because if you're, you're actually building on bearer, I mean, really building on bearer, you reached out to the team. There's no question the level of professionalism and
building capability that is going on on Barrett. It's bar none. There is no second best and that's just the truth. And who is it? It's a VC fund or like how is building this?
There's a witch's launch star our funding our for now are not a part of the fear changes here They the the funding was just always paying that for the policy capital led the led the charge on the
do you already have it? They're like the crypto, they're like what we talk about, head of the food chain, they're like the main guys that drive this entire industry outside of Pantera and Galaxy Digital, they're like the the next ones in line that typically lead the quarter
quote next wave of like runners in the next cycle. So that's what's the team so you don't have to dox the team or anything what's the team's background you know pre about three yeah
for sure the the dev who's pretty much the this is his brainchild essentially his name is dev bear and he was previously a senior developer at Apple. Leu a quit his job by senior level dev to pretty much pursue pursue this
There's a lot of people close in the industry already, Papa and Smoky, all three of them are pseudo anonymous at the moment. You can check out the GitHub and there's some docs, team members and stuff. The entire team is based out of Toronto at the moment.
Like I said, they're the building capabilities and the professionalism displayed by those guys is when you're actually building with them right now is there's no second best. Do you have some socials or anything you can put in the mess or any other links? Yeah, I'm putting some up now.
I put up something that the honey cast put up and it basically says that bear chain is the one on one that I'm actually excited for in the cycle. It's nothing personal kid. Just bisman. It's deaf bear.
the next main character in the dev space. I don't make the rules. I just follow up. We call him a young Steve Jobs. You know, man, we worked at the full company for a while, learned some good things and as implementing that work ethic here in crypto, right? So he's really just, if you really want to work and build.
Those guys are actually working and building on the day to day and they're hiring dude like I checked out their their job description dude like these guys are they actually gonna build this out They really paid that man he moved from the states to Toronto to work there. It's actually happened like
last week. Yeah man. Yeah and I found it pretty interesting like dude they just came out of the bat. You know we've been hosting these spaces for how long F Dub like two plus months right? I think our first show was like in early February. Bit February am I correct?
some of that right around the blood. I think like around like just after that maybe like end of February beginning March read did the first one and then you started doing a couple of them. Yeah yeah yeah and you know out of the woodwork like bam you know our funding is led by polychain and you know those guys are just
just straight killers man, straight fucking killers. You guys have any info yet about like, you know, like initial token allocations and how that's going to be released and things of that nature. Sorry, I'm directly into stuff.
No official white paper like those big lengthy things yet. There's a there's a good explanation on like pretty much General tokenomics and how some things are gonna how validators work in that sense and how we're gonna just align the blockchain with the hack summit that just happened
Devbear really went in depth and gave a really really good presentation And this is on Cosmos SDK's it is a Cosmos SDK EVM compatible. Yeah, and it's all it's all built that bear built the whole chain there. It's not like I mean it's all to novel
idea. That's for sure. A lot there's a good. How big is the how big is the dev team right now? It's growing. It sounds like it's pretty lean. It was the beginning of the year. Like I said, they're they're hiring now. So as of now, I can name maybe like 10 or 15 people. And yeah, for sure.
They're still growing and we're just talking and we're always in voice chat in the discord. I was checking us out on Baratane. We were just in their disgusting with some of the team. They're like, "Yo, how big till we have a Baratane tower at this point, I'm going to start hiring people out the wazoo." It's an exciting time for Barat and everyone's
I want to ask this man. So typically, and Safi, you can correct me if I'm wrong on this. Typically with some of these like Cosmos L ones, there ends up being like a perpetual short on them through governance.
Right, so if I want to build on this chain, right, and I want to call it Wabi chain, I'll just make a proposal, you know, put in some like, you know, bullshit technicals and ask for like 100,000 baritokins. And the main use case of that would be to make YouTube content or Twitter content and things like
that eventually get approved on some of these like oh one's built on cosmos and then there's it's basically a perpetual short and I don't want to mention any names here but like if you go through some of these charts man on cosmos fuck me man that shit is like just down only outside of stride and whale everything else is just like shit
the bed. Safi, am I right on that man? On how some movies propose those work? Like, oh, I want to start up a valid interview. And all that shit. The simple story of like crypto right now is that in the proof of state networks, you have a series of allodators that have
to get basically paid for running the network. Each validate is just think about as a computer, it has internet connection, and all of that needs to be maintained, and then some developer or someone with some understanding of how to maintain a validator and update it and things of that nature.
has to be there and then that has to be sufficiently profitable enough for a validator to keep doing that. So the validator's, each validator on a network is basically an expense and ultimately like you're paying out to those validators to sustain things and then
Additionally, the stakers on the network think about when you're staking what you're doing is you are paying for the validation services first and foremost in the form of some inflationary yield that goes out and you're essentially printing money.
sort of like negative tug on the price that that creates. So you're always in a situation where you need to bring more economic activity and more users to the system at all times. Now the block space is essentially the price of block space is asymptotic to zero.
the sense that there's so many different chains you can create that how much is block space really worth is essentially infinite. It's not scarce in the traditional sense. So you have this kind of constant situation where just like transactions and whatnot themselves are not going to be sufficient. This is why
buy like you might have issues funding everything from liquidity pools to everything else. All these things are sort of expenses for a business. And ultimately in DeFi one of the issues is that many chains don't have a business model that makes any sense. So it's like you have to be there's something that has to happen on that
that people want to spend their money on, not just to kind of like that their coin is going to go up in value, but something they legitimately want to spend their money on, a service of some kind. So that's the tricky part. So as sort of blockchain projects continue, like you eventually hopefully will get like goods and service
that digital goods and services that start to happen on chain. One of those examples of course, NFTs, that was a digital good that you buy, that you wouldn't otherwise buy in some other format, and you created a market essentially that you would use blockchain for. You can imagine there
There's lots of other things we've talked about this while before, like different types of, you know, sort of like, defy games and other things could be really fun. There's probably going to be some really, really specific, crypto-native games that come out and not necessarily, like, some web to experience or some traditional, like, unreal five experience. But I'm talking about
like something that really leverages the game dynamics of blockchain. And if someone creates that amazing experience, like there was a chess or whatever of crypto, then I think there may be some room for a lot of users to come in. So yeah, all of that. And then maybe, like maybe,
AI and some of these other things that are coming out could use crypto as a base layer for, you know, again, digital services, which is what AI is. And that's been a thesis for many years that like eventually automations will be something people will be willing to pay for in the digital space, which makes sense. So like all this is coming along, but
The reason why the price of everything just goes down to some extent is fairly easy to create a hype cycle in the beginning of a bunch of new users. It's almost like if you open a new business in town, they'll tell you most of the advertising should be right at the beginning because
you'll never have as much buzz about your business as the day you open. One of the things that happens is during the initial market conditions, you'll see that a new chain will pump a lot because you're talking about a thin-order book with relatively low liquidity, with a whole bunch of attention and you just create this ridiculous pump.
So, generally in crypto, you should assume that whatever price you're paying for a coin, it's actually worth probably a lot less than that, like maybe 95% less than that. So, I think the problem is that the
problem is not that things pump and then dump. I think the problem is people's misunderstanding of what that chain is worth to begin with and overpaying for it up front. It's not a failure of the chain or the project necessarily that I'm seeing. It's people's misunderstanding of how order books work and
all the rest of it. And then when people get like, and in crypto, it's like you're directly upset when the price goes down because like, well, it's affecting your bottom line. Hey, I bought a hundred thousand dollars worth of X. And now it's only worth five thousand dollars. I'm so upset. The devs do something blah, blah, blah. But like in reality, like a lot of the problems with crypto.
have to do with sort of like the release of how coins are released and how there's oftentimes insufficient liquidity in the beginning and you get these wild pump and dumps. And that's why I was asking earlier, like is there are VCs backing bear a chain? Because oftentimes what VCs bring to the table is they bring initial liquidity. But on the other hand, like
while they bring initial liquidity. They also are the exit. You're become their exit liquidity at some point because if a VC notices they made a 20x or 100x, they sure as fuck are going to sell, right? They got into it in order to sort of like de-risk themselves once they see a big pump and that's
part of why you see the big dump, right? Of course. So on the one hand, if you don't have VCs, you have one set of problems, which is a pump and dump. And if you have VCs, you have a different set of problems, which is also still a pump and dump. Does that make sense? Like, so like there's not a lot of great ways to solve this. And people have been working on it, like#
sorts of interesting lock drop techniques and different things. None of which have been really, really perfect. I think the biggest problem we find in blockchain is it's easy to get attention the first month to or two months of something. Everyone's amped up about it, having Twitter space about it and like whatever YouTube
channels are going berserk and it's hard to keep that attention long-term. And an intuition here is that ultimately, if you think about how YouTube channels and everything work and how the big accounts have built themselves, I think what we need to do is figure out how to monetize that attention, attract people from the web to space
who already have a massive audience, not just to show something, but to actually have their own coin on a chain or something in a sense. And so they become their own shielders for their own product. And if their community wants to buy their little coin or their t-shirt or NFT or whatever the fuck else, they can do that. But then that brings economic activity to that particular chain.
and that's how the chain ultimately survives. But like, I don't know, there's, and then there's like a funny thing in crypto like where everyone's against like fillers or whatever. But really that's the beauty of Web 3 is like you get free showers. Like if you don't have that, well fuck, you're gonna pay a lot for average. - No, yeah, and for sure. - You're not wrong and on everything,#
I think that's where bear chain brings a novel, novel mechanism to everything, apart from just the tokenomics that are novel. The way we came about having a community is also novel. The bears were launched as a fully decentralized product, right? There was only a hundred of them. So if you believed in, or if you're
Not that you believe, but if you were early enough at that point, you've seen the growth and it's been a long time and you've seen the energy growing and captured and there was different peaks at different times and there's, you know, 100 exits for different reasons for different community members and building that.
that bond between people with a core community, right? So you start with 100, now there's like 400, 500 people that are original to the original, I say, have been around for over a year and are more deeply invested in the chain and want to see its success because it's
It's our chain. It's something that we were we were promised as a community. So we really pushed we really pushed that advertisement ourselves and you can just see it.
with everyone building on Behrah where they want to build that decentralized product, they want to build out that what you were discussing, what you were just saying now that YouTube affiliation, where they can monetize their own stuff,
their real-life assets check on me jannida with with that and find out who Carlo is so you can I think that was actually a really good meme just yesterday meme or whatever their funding research just on real-life assets themselves
Yeah, really pushing the narrative forward on the use case and selling the block space for sure. And yeah, and essentially providing that framework for whether it was the original community members or other builders or DApps, both large and smaller novel or, you know, for
to do what they want and utilize some of the new novel consensus mechanisms like Groove liquidity, which is basically their own spin on a delegated proof of stake. So people can see a lot of potential in what that sort of consensus mechanism can offer.
coupled with a tritocon system and are basically trying to do older new ideas on utilizing that. A lot of the more community members too, which is cool. Yeah, a tough thing that every new chain has a problem with is having a sufficiently wide distribution of
Starter wallets in the beginning having a sufficiently wide distribution of token ownership in the beginning and and all of that Nobody's fully figured out how to do it really really great if you don't sell enough to venture capital style Thank you
you can't get the thing off the ground because you don't have a big enough team you can't pay enough people you can't really run the business on the other hand if you give a large chunk to venture capital then you know they're eventually gonna have a dump on you or something and then if you put in weird shit like vesting periods that works except for the fact that like everyone else is waiting for the vesting
to end before they buy because they know a dump is coming. So you create a literal clock on the project. There's so many of these different quirks. And I think the broader the base of new developers, new projects that you can have it on opening the more sort of investors you have. Imagine a chain where you have
I don't know, 100,000 investors and each of them put in like 10,000 bucks. That would be impressive, right? It's hard to achieve that though. Really, really tough. Yeah, I think you mentioned that's an interesting point, right? Like identifying people, identifying users. And that's one of the things that we did at the Honeydye as a community project to support
this upcoming ecosystem was like, okay, there's already people doing mince, there's already people launching protocols. We can identify who those users are and to bring them back to the ecosystem and provide benefits for them. So now we brought over like 1,500 new entrants who wouldn't even know about their Jane through our
our, you know, our main for example, right? So now we're helping protocols to be part of it, identified, you know, users, and what we call like calls as a service almost bring it in attention to those apps, where then again, launch on the network, which is, which is a, which was an interesting idea that we kind of went on.
For sure shout out to Big Bear Capital, see you in the audience building on Bear for sure.
of basically bear finance. We miss very bear capital.
Well guys, this has been a fun space. I think this is a great time to wrap it up man. So quick, short, concise, small space. Day after consensus wraps up. I think this is a nice catch up space man. But yeah.
want to thank you guys for tuning in. If you guys are new to the space, feel free to follow us here at BecauseBitcoin. We do spaces like these all the time, but they're smaller, you know, smaller community type spaces. We also do spaces with founders, devs, all that, all that fun stuff and some community thought leaders like Ben County
and all that stuff will actually be hosting David Hunter on our YouTube channel. He's an individual that says a big component of the Meltup theory so that should be interesting and we're also going to have Jenny QTah as well. She's an individual from the VC space. That should be pretty interesting looking forward to
to that. And we're going to be hosting some guys from Phantom. We're going to be hosting a spooky swap. And I forgot what else throughout the week. But yeah, thank you all so much, man, for coming up on here. I've dubbed the Honeycast and also Safi and premise and kimchi. So it was a
Nice way to get my Saturday evening started. So I'll catch you guys on the next one. Thank you all so much. Feel free to follow us, every follow counts and shout out to our sponsor. Once again, all this protocol, they're up on the nest. But see, premise wanted to say something else. Premises are anything you wanted to say, man.
I realized that one point that I wasn't able to hear you and so yeah, I had to drop that gap I heard you just signing off I appreciate all the information from bear chain I'm actually looking into it right now searching everything I'll kind of was just sharing so appreciate it. I mean fun uni Yeah, I hope to connect with y'all again
for sure man. And then we thank you for having us. We appreciate it brother. Yeah, always. Thank you. It's great to chat with the community as always. Yeah. Yeah, man. And it's it's it's pretty cool that I know to have Baron Smokey have some experience working at Apple. And if you actually look at Apple stock, it's literally one
One day, one, like it's Apple stock is one good day away from making a new all time high and it's up 36% a year to date. I love that. I love seeing that man. I hope it blasts through like 200 and just absolutely destroys the bears man. But what do you want to do bears?
No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,#
Everyone's done with conference season. I feel like everyone is taking today to recover. But it was nice catching up with you guys and look forward to having you guys on over the coming weeks, man. Once things get up and running. So thank you so much everyone. We'll catch you guys tomorrow on our YouTube. We're going to be running around
round table space, not round table space, I'm sorry, round table show up on our YouTube is going to be myself, Snorlax, Premise, and Feel Pain and Max, so look forward to that man, catch you all soon, peace out, have a good rest of your Saturday or Sunday, God bless you all.