We are back and later than ever it is what time is it? It is 815 p.m. Pacific
Not gonna lie. I was eating some hot pot
I was eating some hot pot and it was tasty and it was worth it. I'm just gonna say that look
Hopefully everybody had a good day. We are back in this who invented
Here's a good hot pot is they charge I would say the same thing about Korean barbecue, too
It's like here is something and we're gonna charge you a lot of money for it
And then you're also gonna have to cook yourself like you have like it is the great
I don't know who invented it
But they don't even have to cook they just buy raw ingredients and throw that your table and you cook it you cook it yourself
And you also pay money to do it
But I think there's something about the vibe. Anyway, hopefully my mic is good because I'm in a different location
I'm back in LA as of last night and I'm gonna be here for two days and then I'm traveling again. So
I'm gonna try to get in as many spaces that we can before that
But again, hopefully everybody had a good day and made some money and if you didn't that's okay
There's always more opportunities
If you want to come up on stage click that request button bottom left hand corner and as usual if you want to support the space
Click that bottom right hand corner button. Give it a like comment retweet all that good stuff
I got my tea and I am ready to go
There's a lot to unpack and a lot to discuss today
Dude we have them I was gonna I was going back and forth between two titles and I was either gonna do black hair Putin
AMA, which I still think is a banger and I might switch to or
This one which is ERC 404s
And I've been reading about these ERC 404s all day
I mean, it's not a real aetherium token standard, but I got to give them props for
Yeah, I mean they fucking made it happen. This should sound like a 300 mil market cap
The NFTs are you know, 12e 13 whatever they are now. I completely missed it
I had no idea that this was even a thing until basically yesterday when it was already already so big
I don't know how it just it flew under my radar. I didn't see it and
I do think it's interesting. I mean, it's essentially a combination of ERC 20s and 721s and they
essentially function as a bolt
And I think it's like whenever somebody buys the NFT like it creates the token or then they sell it it burns the token
It's interesting. So we'll talk about it more as well
Jump over to open see here. I don't have my laptop with me. So it's a little bit more difficult
These nobody NFTs a they actually revealed today and drop down a point six
Maybe better than I thought it would be a rosenica revealed those at point. Oh five froggy friends. Do you see these?
They were like point. Oh three to literally point to when they announced that they're doing some ERC 404 thing for their NFT
mutants at four point three
D gods at three point one seven
As you he's at seven what else we got here pudgy dude pudgy's pumped a lot back up to eighteen point nine almost Wow
Yeah, a little pudgy's at one point seven four pudgy's are crushing it
I mean off that dimension airdrop dimension was up like thirty five percent today
But I don't even know if dimensions a real thing
Like has anybody actually read their dogs? I don't even is it like a real project
Anyway, every pudgy basically got air dropped ten grand, which is insane
It's almost a pretty half the price of a pudgy almost actually maybe a third
But that is the better. I'm telling you that is the better
I think they're gonna have dude
I guarantee you pudgy's have like fucking ten air drops locked and loaded for other protocols and projects to give to their community
I I could almost guarantee
And I think that's why people are buying. I genuinely think that that's what it is and maybe there's some insider shit whenever but
We didn't say actually threads been saying this to we've been saying this for a while
The meta is going to be getting tokens for your holders and air dropping them
That's what it is because it like it trins the facts like fuck it. Let's just go get you money
We don't have to dilute our own shit
We don't have to release new NFTs or put out a token and just go get other people's tokens and give them to you
It's a it's a great idea how sustainable it is. I'm not entirely sure but
But whatever, all right, let's work some people up on stage to get to it
Also, I did not watch the Vladimir Putin thing I'm gonna watch it tonight, so don't ask me questions about it because I have no idea
But I do got to give Tucker Carlson props
I should like for you to be like it's gonna be a hundred million views by the end of tomorrow
It's insane. It's kind of the kind of a dream for any interviewer. What's going on doobie?
Speaking of them froggies. They actually launched their 404. I'm not sure if he's aware of it
Yeah, I saw that's why they pumped. I mean to be honest this 404 thing is gonna be the final
This is the final move final checkmate plan Z in the back pocket of every project that's down horrendous
Like this is basically and by the way 404 might end up being very cool
But it's not like a real token standard and I was reading some stuff from I think it was quit or maybe it was cygar
But there are some vulnerabilities in the way that 404 is currently built
Like that is a real thing. So I just encourage caution to everybody because you never know
That being said it does remind me of when ordinals first came out and basically every project that was down horrendous was like fuck
It we're just gonna release an ordinals thing and for some of them it worked and for some of them
It didn't I think it's gonna be the same case here
I think there's gonna be certain people that use
404 in an interesting and unique way and then there's gonna be other people who just gripped with it
And that's the way that anything works in the space
And there's nothing wrong with that. So
But yeah, I can see a ton of a ton of old projects implementing this as well in terms of prices today
We had a pretty good day Bitcoin is up 3% to 45,000 892. It was 43,000 two nights ago
Ethereum two thousand four hundred Solana is up 2.3% as well. I actually think that
Dude, I'm telling you we are at the beginning of a massive fold
Like we've been saying this for probably three months, but it finally is starting to feel like it
We're at the beginning of a massive bull cycle in my opinion. The happening is how many days away is it? Let's see. I
Can't see on my phone, but I think it's like 65 or 68 days away something like that
ETS accepted ethereum ETF coming later this year, dude
Every metric every catalyst you could possibly imagine has either happened or is it about to happen?
And if you are not max bullish now on whatever ecosystem that you support, I don't know what to tell you and
Also, you got to got to stay liquid here, too
There's a lot of people who are way too tied up stay liquid because there's gonna be some crazy opportunities coming up and
Even this airdropping thing I saw somebody
Somebody if you had staked a thousand Tia, which is the Celestia token in a thousand different wallets
You would have made 1.2 mil
It's insane. It's literally bizarre the airdrop meta right now is insane and there's so many opportunities though
It is essentially a full-time job
I have heard of people and people that I know and trust are telling me that they pay other people to farm airdrops for them
Like I know certain people that have like the how do you trust someone else to have your wallet or like?
I don't know. Why wouldn't they just keep the airdrops himself?
Because you just trust them
I mean, it's like you can't just I get a random person to do it
But if it's your friend or somebody that you've known for a while most people
Like I genuinely most people in the space if given the opportunity to scam would actually not scam
I know that sounds like a crazy thing because we assume that most people are just inherently gonna be bad actors
But I genuinely believe with the enough
It's like they need incentive right most people are not gonna just be a good actor just to do it for no reason
Some people will but if you give I think we have I think you have too much faith in people
I think if it came to like you or them they would choose them any day of the week
I'm like it I think especially with coins. It's very PvP
So like yes, there's wag me and we all want to help each other and whatever but like not that I'm being pessimistic
I just am being realistic
I think that like not that people want to scam you but like people do want to have advantages over you
That's all about alpha and all that other shit. I mean depends. I mean, there's a lot of people of course
I would have given up their opportunity
but I actually I was talking to somebody about this recently and the question was
Are there people that you could give your seed phrase to and trust that they would keep it safe and not actually have an example
Of that when dogecoin hit I gave one of my best friends 500 bucks
They put it into dogecoin
They end up going from one cent to like 60 cents and then we pulled out and like he had the seed phrase for the entire
Time of that transaction and like obviously I didn't men's trust with him. Would I do it again?
Probably not but like I was in that situation and I'm sure that there are other people that like
When things start small with crypto, it's very easy for it to grow much larger
Yeah, of course. Of course. I I also think there's a social repercussion. That's much more than like here's the thing
I actually think that trusting someone with my seed phrase is
Is easier than trusting somebody with almost anything else for me
And the reason is is one. I don't really keep that much money in one single wallet and two
Like okay, let's say you let's say I gave someone my seed phrase and for whatever reason I needed them to do something for me
I needed them to pay somebody whatever
Let's say they scam me out of ten twenty thousand dollars, right ten need five needs, whatever it is
Okay, so they just gained ten thousand but about blast them on the timeline and they're gonna get blackballed from basically everything
Like there is a social repercussion that most people understand that exists now that doesn't apply to everybody
I haven't told I don't know if I've told this story before and I really don't like to bring it up
But when I first started in NFTs, I'm not gonna say their name, but I met somebody at NFT LA and
Immediately, this was 2022 early 2022 immediately. We were joined at the hit. I met him randomly at an event
Like he was plugged in whatever and he actually helped me a lot in the beginning with spaces and we did a lot of content
And I trusted this guy with I would trust in a seed phrase anything whatever
and I remember there was an opportunity and I think
He ended up stealing like four or five thousand dollars for me
And this was somebody that I literally talked to every day on the phone for hours
That we'd like it was it was that sort of relationship. We did spaces every time together. We're always on the phone
I was basically that was like my guy like we felt like we fucked with each other and we worked together in the space and like
Exchange alpha so on and so forth and he ended up fucking me over for like four or five thousand dollars and I begged him
I fucking begged him. I was like, I was like dude, dude
And by the way, this was right before you had cemented and we were like this is right before that
Our spaces just kind of exploded and I told him I was like dude like you are my fucking co-host and I'm telling you
I'm about to get like this shit's about to pop off
Like don't fucking burn this bridge right now because like you can enjoy in all of these fucking successes that I'm about to have
and I knew that I was gonna happen and he fucking decided to block me instead and
Probably like a week after that the youth shit happened and you know, like Frank joined the space and the rest was history whatever but um
It's just like actually insane that someone was willing to fucking do it for like four or five thousand dollars
It makes no sense because the amount of money that you can make if you have good connections in the space is
Way more than that is way more than that. I mean, it's not even fucking
Four or five thousand is a lot of money. Like it's a ton of money for me
but like over a year like you can make a lot more than that if you actually have good connections, so
And the thing is I've forgiven him and I think I've actually seen him since then
It was like maybe I had an event. I don't understand why he did it
But I also like get it in a sense like people they see, you know
A lot of money in front of them and they fucking take it. They don't think about anything else
I don't think it necessarily makes them like the devil or Satan or you know, the worst person ever
I think people make mistakes, especially when money's involved, but like it doesn't make a sting any less
So I guess my whole point in telling this story is like yeah
I agree with you. I'm low a lot of people will fuck you over and given the chance
but a lot of people will not and I went from I
Was like inherently thinking that everyone was gonna be negative or fuck me over and that in turn
Dude, I I lost out on a lot of opportunities because I just assumed that people were bad actors are trying to get one over on
Me and the moment I started to just say fuck it
I'm just gonna trust people and if they fuck me over they fuck me over final be prepared for it
But if I actually just trust people well that that's the thing with web 3 like very few people have contracts with even deal flow
Like I have that so many freakin deal like I'm not that this is a good practice
But like there are so many deals that just happened so quickly that you don't have time for a lawyer
You just get them out very quickly
But contracts don't help him with it. Trust me. I had contracts before and there are people who didn't even give a shit about the contract
They said yeah, I don't fuck you
Emily I love you Emily we know each other since a long time, but I just want to mention this though then you can speak
Like there's this team I was working with and they were based in Africa and we had like a really good and actual contract
And when their mint happened, then it fumbled they they met but they made like around like 300 ease and
Then I some hey guys where where the fuck is my share like I helped you do what to do with the spaces with everything
Yeah, well, sorry. It didn't fully mint
We're not gonna pay you and I was like, but there's a contract there's a certain there are certain rules
We're sorry and they just disappeared from Twitter disappeared from discord and everything and you can't do anything about it
Like it's like it's even gonna cost a lot lots more like and you may you might not get anything
My contract is not even the solution smart contracts putting your wallet to address in a multi-sacre or something like that is the
That's all that is actually the unfortunate truth. So there
It fucking sucks because you're right
Like let's say you do sign a contract with somebody and like an NDA or anything, right?
Like some sort of agreement and let's say they break their side of the agreement. They fuck off
Whatever they don't fulfill whatever they said that they were gonna do
What am I gonna go do spend thirty forty thousand dollars and pursue some random person and quit like it doesn't even make sense
It's so much time effort money. It can become public. It goes on the time. Like it's so much more
Then the value that even bring back to you that being said many of the best business deals that I've done in the space
I've never had anything written on paper and it has always been like handshakes stuff like I
Don't know but it just depends if you can trust someone like thread guy and I have broken bread many times on different things
And I don't think we've ever had any sort of written agreement with anything that we've ever done with each other just because we trust each other
But I do appreciate when people do have contracts like like Jonah
I see Jonah listening here
Like everything he does is like contracts by the books like very professional and that is really really rare to find
The way that they're operating the space to shout out to them and then there's other people who don't do contracts at all
And they're still very trustworthy
So at this point contract or no contract
I think about it the same way as I think about docs versus undocks
There used to be a connotation that if someone was dogs, they were inherently more trustworthy, which is just not true
like it it doesn't change anything because the fact stays that you can't pursue them and
Let's say you're in the United States or and they're in a different country or vice versa
Like we supposed to do cross-border law. Like how's that even work, bro?
If they're anon you're not gonna have like potato in my asshole 69 on a court legal document
Wow, that was like a very specific. I
Just watched the games fucking five. That's what oh I
Gotta watch the game some of you too. But Emily, what do you think about this?
Yeah, I mean, I just think that contracts don't matter
Like you said unless you have the power to enforce them
So like that's kind of like where it comes down to and especially in the space with
some people being out of like country or out of jurisdiction you have to make sure if you do sign a contract that it's like
You know noteworthy on your side of the fence and on their side of the fence like different countries have different laws and trademark
Laws and this not the other thing. I'm dealing with something right now where I was in a contract
I didn't want to sign but I just kind of did it cuz you know, it's with a company
You know, I fuck with so I was like, okay
Yeah, you know whatever and now they just changed their whole way of doing things and so my
Contract is just kind of like sitting there and I'm like, okay
Well, if I was doing this contract this way, you know
This would have been very lucrative for me because it has been but now that you changed the game
I'm sitting here with this open-ended contract. You want me to sign a new one and just forget about it and it's like
That's why that's why smart contracts are so awesome because you don't need to have trust or anything like that
You could literally just write it into the smart contract and then you don't need to have of course
But this but this this particular company paid me out in fiat and not in crypto
So it was a little bit different
So like there was no like way unless they did you like USDC or something like that that they were gonna do that
But they weren't doing that so it's a whole thing
But I mean I like like I've been in bed with these people for a while
So I trust that they're gonna do the right thing by like what we can do together to make this correct
But I think it comes down to that like if you do sign something
Just make sure that the people that you're signing with you like you understand each other and then if something does go south
Like you can work together to kind of like get an amicable like outcome for both parties
Boy did I do something wrong? I thought he was taking a leak or something. I
Don't do that on spaces. Anyway, no, I mean, what's the most common phrases in crypto? It's leaked on us
Just can we call okay. We've been live for 10 minutes
one of the most popular phrases in the space is don't trust verify and I
Mean it's true. That's what smart contracts are good for
So anyway, let's get this going shout out to our sponsor for the month game and I go they've been awesome
So shout out to you guys. Thank you for supporting
And that being said I want to go to some of the hands here. Let's go over to kick flip kick flip
What up, bro? Thanks for having me up here. What's up, everybody? I love all the JPEGs
Speaking of like the trust. I think you can trust people until like
they deal with IRL stuff like
It sets them back and then they they get to the point where they're like fuck man
I guess I gotta fucking start scamming people and shit which sucks, you know
but like that's that's just the way the world goes and I want to speak on the ERC 404 so they just like
Tokens with NFTs attached to them or some shit because it sounds like the SPL 22 is that's popping off
So I'm not in that if there's any expert like 404 experts in the room, please come up
But my understanding of it is essentially it's a midway point between the 721 and the 20 and it's like something where
It's basically like NFTs that you can sell into a liquidity pool
like it's kind of like an NFT that you trade on Uniswap, which by the way, I
Have heard about I heard about this concept at I mean
It had to be like six months ago at this point that in person somebody pitched me this exact concept
They're like look they're NFTs
but they're also ERC 20s and they can have liquidity pools and you trade them and they're fractionalized and all this stuff and I was
like that sounds really interesting but also very difficult and I
Was like I know that NFT community is not gonna care about that fast forward six months
And it's the biggest thing in the space and it makes me wonder and by the way flooring protocol is it's appreciating it and using
Fucking hated from Uniswap gave it before for its coast his cosign today on the timeline
Basically along the lines of it's great to see the NFT community understand that you're C20s can do more than just you know
Shit coins or something of that nature
So this might be a huge inflection point within how we think about NFTs and right now
It's a bit grifty like a lot of people are just launching these 404 things
Whatever and that's totally fine, but I actually think this could be a standard going forward
It's not the right thing for every project and I really don't think that every NFT project should be like fuck it like we're
We're doing 404 instead of just a 721. I still think 721 is gonna be
Honestly preferable for most things
But yeah, it's interesting to see and it's the biggest in my opinion biggest development that we've seen in NFTs probably since
Blend if I'm being honest
We'll wait for the first exploit. That's when we'll know once you get yeah
So I guarantee you there's gonna be an exploit like until they really refine these contracts and like maybe make it a real standard
Where it's approved and you know passes all verification whatever until then it's gonna be sketch
And I definitely recommend people be cautious, but at the same time
Congrats to everybody that bought Pandora because dude those they fucking came up
Like I saw a couple stories that people who turn like, you know a few thousand dollars into a half a mill or a mill
Like when did that happen man? Like I was out
Parting just yesterday evening man. I want to work went for a thing and everyone's fucking talking about Pandora. What happened?
Dude, I mean, it's basically been over the last couple days
I was looking at Pandora's page and one of the first tweets was at the beginning of
It was either at the beginning of this month or right at the end of January
And they said like 404 is complete like testing soon and I had 40 likes
By the way is the I'm pretty sure I know who the creator of this is
But I don't want to say the name unless it's already public. Is it public or no?
Yeah, it is. Okay. All right. Well, then you guys already know
So anyway, yeah that person what's the first initial of their first man?
What's up? No, it's not me
Fuck I wish can you imagine I wish I was that smart to come up with this shit
It's a little out of my league. I thought they wrote it in chat GPT
Okay, I don't know. I heard that well fuck I mean they know how to use chat
But by the way, try to get you got nerfed had you can't even give me dating advice anymore
It doesn't even know what it's talking about
So anyway, let me let me actually pull up a couple tweets here about before before we can dive in a little bit deeper
What's up? My bad. I think that collection you might be thinking of was called LP or something like that
Yeah, I saw it trending on open see the other day
That's actually how I found the 404s before the Pandora and all that
Maybe maybe I don't think yeah, I don't think Pandora was the first maybe it was I don't know
But anyway, your c4 for has taken X by storm
Many have called it out for misusing the ERC label and rightfully so but let's take a moment to discuss another aspect of it
Composability. So is it safe?
Actually, let me go back to even this
So if you're not familiar with Pandora ERC 404, you can check out the contract. I'm gonna pin this up to the top
This is from quit shop to quit
The goal of ERC 404 seems to be allowing NFTs to be traded with the more robust liquidity of fungible token pools
They've accomplished this by effectively rendering transfers below a certain amount the total supply of NFTs invalid odd choice
But we'll see why in a second when you open the contract, you'll see many familiar pieces of ERC 20 and 721
These are allowances approvals balances ownership mappings names symbol decimals total supply pretty much everything from both standards
But if you look at the approved you start to get a feel for how this thing works
So if the amount being approved is in the range of the minted token
You're assumed to be executing an ERC 721 approval, but if it's higher or zero, it's the ERC 20 approval
So things get wonkier in the transfer from function
so again, we see the same logic of assumptions based on the amount to old variable and
This is when it starts to get a little bit into the weeds and you can read it in the thread
But the logic for ERC 721 transfers is pretty standard until we hit the balance adjustments
We see that instead of your balance being adjusted up or down by one. It's adjusted by
Underscore get unit which is a different function and it's a helper function that returns the fractional representation of an NFT
Learn to flooring protocol a little bit. Yeah, it is similar. Actually, I think flooring protocol is gonna be adopting 404
That's what they I think that's what they said on the timeline
So and then it gets to like a couple examples of it
Let me see, I'll skip through some of this
Yeah, I'm not gonna lie some of it is like a bit out of my league I'm gonna message quit and see if they can hop in
Did you see that you the rock self first attempts that I have saw the boost I
Did see that how much did it sell for you? I?
Don't remember but definitely much less than it did two years ago
Either rocks are cool. But those eat the rock people are the real cabal. I is different when you're spending hundreds of youth on a fucking rock. I
Mean there's just leaks of this stuff guys. There's just leaks
Okay, I hit up quit I actually had hit him up on the 19th
There's a new project coming out called what the fuck is erc 404. I just seen the tweet if you guys wanna go look
Oh, I see. I'm telling you we're gonna see
6,000 griffs over the next five days of your c4 or four and I'm just not like I meant
I always think the original does the best and maybe the second does okay
But anything after that is a goddamn derivative and usually does not perform well
So I'm just I'm just staying away from most of it. Like I missed the first one
I missed the second one and the D frogs was a big one
They got like a to eat floor and because of that, I'm just acknowledging my loss
I'm taking my L and I'm not I'm not participating unless I see something really solid
But if you guys have extra cash and you want to speculate, you know, have fun with it
Yeah, maybe we'll get quit in here maybe we'll get quit also we have no requests not even one
Umfers there's 155 people in here get up on stage. I want to hear your takes. Let me know what you think about this 404 stuff
Yeah, get physical up here is that the Franklin is bored PFP Oh
Dude Franklin. Yeah, what an end of an era man
Rip to Frank the Franklin's eight man that that's insane when I saw that I thought he got hacked or something
But he acknowledged on his page that it's real bro. Franklin was a legend
Yeah, he just flew too close to the Sun man
Like too close to the Sun got way too crazy with this liquidity got burnt a few times and then um
But I have a question about the situation like this is in general. I see it a lot in this space like
How much money is enough money or is it more like compulsive gambling?
That's the question. I don't know man. Like how much money is enough money for you as a person in general?
No billion billion billion. Oh
Name I got I'm trying to make my I'm trying to make my rent and no, I'm kidding man. Go ahead
But I just wear bills paid off for life. You saw on a doctor's
Bro, we talked about that. Look at my people. Look at my fucking background. Yeah, then I'm gonna call you Bitcoin nurse
Did you guys ever see the Gary V video where he's like it's saying that
His friends when he talks to like his billionaire friends and his millionaire friends and then like the happiest people that he knows
Are the ones that just have like enough money to you know, be happy be secure have security in their life
Maybe go on some vacations and stuff. It's not like the people with like a shit ton of money
It's like the people that are just kind of like average making their way like not have to worry like have that security
So I don't know just something to think about and ponder like how much money is enough money
It just seems like I don't know
There's a lot of wealth hoarding and in like the world and I just hope people
Can kind of like combat that sometimes in life
Like if I made enough to like pay my bills off for like two years
I still work my day job and just stack my paychecks and be chill. So that's
Yeah, I don't know what enough what is enough because I know people that have so I'm not I'm not I'm I heard these
Yesterday that he wants to have enough off of like
Like baking eth that the steak to eat is what he can live off of and then have all the youth that is actually his wealth
Separately like making money on its own. Yeah. I mean, I think everybody has different goals
Like I was I saw this video yesterday where I think the average income
We've talked about this a lot but like like an average dual income family in the United States can make you know anywhere from
40,000 to like 85,000 on average. That's like dual income
that's like two parents working full-time sort of thing and
You know, obviously there's people making that on a daily basis or a weekly basis. You're in crypto. It's very different. I
I don't know what's enough to be honest because I'm now making
Geo, I gotta remove you bro. I don't know
I'm in your bias. It literally says team titty-dow. I don't know what titty-dow is but you guys need some better
I'm team titty-dow. Okay, what would you know about titties? All right, look, can we just get this can we get this under control?
Can't even fucking pay attention. We got a visual up here with Franklin's PFP
And we'll talk about titty-dow. Like this is ridiculous
Anyway, so I'm I'm at a point now where I'm actually making more money now than I've ever made before and I'm not trading at all
So I've not like I got by like shit here and there I've not made a penny trading and probably like a month and a half
Two months because I'm just not actively doing it, but I'm actually making more now than I ever have and I think
the moment that you realize
Yeah, like you just like don't have to do whatever like there's so many different ways to make money
And you don't have to do what everyone else is doing and the moment you just acknowledge that like, okay
I'm not I'm not a good trader. Like sure I've made money and I have some positions that are up
As a few sisters that are up a lot
But like I just don't have to there's like a month
I think I got into a conversation with Naveen about this
I think being a good mean coin trader is one of the hardest things in the fucking world
takes a lot of time a lot of late it's so much time so much mental energy and
You need EQ fucking I don't think mean coins are about IQ. I think they're about EQ
You're like emotional intelligence your ability to read the vibes to see the sentiment like that is so challenging
And it's just like a hard thing for me to do so, I don't know what's enough
I haven't even hit a million yet. If I'm being honest with you, I know a lot of people have but I'm not there
but even when I hit that like I it's never been about
Like a certain amount like is it 10 million 20 million a billion whatever
I'm genuinely confident that most people that are in crypto now as long as they don't fuck up will make millions because I believe that
Fucking a minimum 150 to 200 thousand in the next couple years. I honestly could be by the end of this year. Who knows?
So I think that like any like if you fucking minted a quantum cap that shit's probably going to one Bitcoin
and you'll probably make a hundred chaos that like
There's so many ways to make money
But it's never been about the number on the screen
I think it's more so about the power and what you can do if you have money
Like for example, if you have a lot of money your family members are just gonna get way better
Fucking medical care like you're telling me if you have like a hundred mill 200 mill that you're gonna get the same medical care
Is somebody who's just like relying on you speaking specifically about the US, right? Yeah
I'm speaking about the US
Yeah, we have to the US is rough when it comes to that
So like medical care that's another thing too
Also, if your kids you want to send your kids to the best schools or like really help them out and like, you know
In every way that you can then obviously having money helps a lot there, too
So it's more so about that
Like once you buy Lamborghini a Ferrari you have the house all that it doesn't take that much money to do those things
Like a few million which obviously is a lot of money
But let's be honest if you're in crypto and you're successful
It's only a matter of time before you hit it big might take five years
It might take ten years, but something will click something will work whether it's content whether you hit a big trade
There's people who's when they get a big fucking air drop
There's people who've been holding pudgy penguins since the fucking, you know, however like five ten of them
they got a hundred thousand dollars two hundred thousand dollars airdrop to them or a lot of the people who believed in ordinals very early and got
We got to talk about these today because Casey Rotomar also said that he's basically
Front-run the first ten ruins and hard-code them in which kind of fucks the value of the our sick things
But yeah, it's like people who got or like people who minted OMBs and who knew it wasn't Lucifer
Who was telling me this the other day that when he bought his first OMB and he minted it
it was one-third of his total network and
Then that you know fucking OMBs are like goddamn half of Bitcoin at this and then like he had a lot of great trades after that
Yeah, it's only a matter of time. It's not about timing the markets about time in the market and we say this on time
Yeah, but also if you're a builder it's much not that it's easier to make money
But that's really how a lot of people are actually making money in the space. It's not by training
It's by actually building and getting money. Yeah, I mean I said this the other day and I'll always double down on this
The elite will make a lot of money trading this in general whether it's meme coins fucking
L1s L2s, whatever there'll be a lot of people who make money airdrop farming as well
But if you want to get to eight nine figures
The only people that I know that have gone to eight nine figures
Except the elite of the elites like the people are just very skilled at it and those people exist
But besides those people anybody who's made it to eight nine figures, they either built something
they're the founder of a project or they were very early as an employee to like an l1 or an l2 that ended up releasing a
Token and then they made a lot of money that way like that or like, you know, like they found an NFT project something. So
That's really the only way to get to those levels
And that's why I've been so I've been telling people this for nine months
Go fucking if you if it's not working trading or content or whatever go find a company that you're so bullish on
That like either you can get equity or like a token warrant or something and go fucking work for them for a year
I know like I see Kevin downvoting me it Kevin
You are the 1% of people who can who can fucking like, you know, like make it happen with trading
But like most people are not actually Kevin come up on stage. I want to talk about this
But I'll throw the Jonah Jonah, what do you think?
Yeah, I'll be I'm always that guy I'm that guy so I don't I don't believe meme
Code tokens really take any EQ at all
I think it just requires network and like are you in the insider trading cabal or are you not?
It's like that simple like are you guys do you drink with this homie in LA or are you in Alabama?
Like on spaces cuz if you're with the homie in LA drinking the fucking mojito in LA at fucking
Nobu and he says poo-poo coins going to the moon and I got my boys down the street
Like it's that simple. I don't think there's anything to it other than like I think it Ken
I think it can hit terminal velocity at some point, but like I guess that early on no, there's no EQ there
It's just insider trading up until the point where it's terminal velocity. Hey Jonah, if it's so easy, how come you haven't done it?
Because I don't want to waste my time on it. It's not fulfilling to me. I don't want to trade meme coins
That's not a fulfilling life
Would you rather trade meme coins for a living and just do whatever the fuck you want at all times?
Or would you rather like, you know, like just record a fucking camera and talk about like games. No one's gonna
Yeah, I would much rather do that I fucking love doing that nobody in the real world gives a shit about poo-poo coins
I love playing games. I'm already doing what I want in life. I'm already having well then do I'm happy for you
Okay. Okay. Look, it's it's two things one
Joe and I would say this so to get to know who would said individual to talk about, you know, fucking poo-poo coin
They're probably I mean, there's a lot of
Networking in time and skill like yeah insider trading. It's a great. Yeah, you have the right skill in the other right networking
Yeah, it's a skill 100% way Jonah. You're not getting contract addresses yet. I agree with Jonah like not only you know
You have to have the connections and you have to have you know to know who's buying was not buying
Also, you know most of the people are using you have to be able to use like very good bots at the same time
Like it's totally different from the way it was before
Wait leap did I join a cope fest? Is this what the cope fest 2024?
There's so many other ways you can make money done that to be mean coins like I'm already doing what I want
Maybe you don't like that. I'm sorry. No, no, the thing is like I don't give a shit if you don't like what I like
And I like and I and it's not even about you. I'm talking it generally about I get that. Hold on. Mr. Mr
Jonah hold on here. It's just the fact that you and now basil are saying like it
You're unable to do it without insider trading or using bots
I think it's hilarious because like dude, I didn't have insider trading for fucking Pepe
I just saw like I use my brain that you think, you know doesn't exist
That's a that's a big meme. Oh, there's not a big meme coin. Yeah, let me just buy this
That you're involved in them, but I know about a ton of insider chats to talk about this stuff
I mean, I'm not saying that you're doing it
But for the most part those insider chats they never break out of like that initial like first pump because like they're all
Yeah, I don't know if you heard the first part of what I saying
I'm saying the initial stage is 100% insider trading and some of those tokens do reach a terminal velocity
Where it's no longer about the insert rate. I think I think the Pepe coin. I mean because it's Pepe, right?
Are you insider trading with shrapnel? No, I didn't buy any tokens. I didn't get any they pay me in USD wire
Dude, I by the way, like I wasn't talking about anyone like Kevin or anyone here when I said he started trading on that shit
But Pepe also like this there was like tens of Peppers appeared why this exact if I did pump
I'm not saying like anything about this is also a question. That's worth asking
Video and you know, like nine times it's gonna flop but that tenth time it goes fucking viral
I think it's kind of the same thing. It's like that's why I was attracted Pepe
That's why I was attracted to Harambe bro, like Harambe on soul
Like I literally have bought and purchased and got rugged on 11 different Harambe's since 2021
And then this one ends up doing okay because it was on a different chain
Like the chain was cursed for Harambe the Harambe didn't like a theorem. He likes a lot
So it's like I think like it's not like any conspiracy theories like oh like why did this one work?
Well, like sometimes it works and sometimes it just doesn't and I think when Pepe did work last year
It was a time in the market where there was nothing exciting happening
It was just every NFT project just letting you down fucking one by one and then people just wanted something that we had
We had the arborage from airdrop. We had knock amigos and
Then we had pepper. It was knock amigos. Is that that's what it was Kev
Not to be goes with downfall
Shout to the knock amigos though for you know, like just making Pepe pump as your NFT just dumped to zero
Don't trigger me along. It's just Thursday
Hitting where they're gonna go. Oh, wait fidgetle. Do you like knock amigos though? I I
Do like knock amigos. Oh, wait. No fidgetle didn't meet his free passes
Fidgetle fidgetle do you like knock amigos because you you were
Officially a gambling addict since you're wearing the mascot of one
no, I'll actually so I I I had a shit ton of
Of end of Satoshi passes and I passes and you didn't mean you didn't mean but then I bought but then I bought a shit ton
Bro, you know a knock amigos were just eggs the liquidity for MFers like in my opinion
Egg the liquid is is what I said, right? Okay. Okay. Hold on. Hold on. So yeah, I forgot you did have like
Actually, you sent me one my end of sort tasty, but I never meant to knock amigos either cuz I didn't know it was happening
Yeah, I actually got mine from fidgetle, but okay. So in regards to the shit coin thing. I
There is definitely inside it
I mean come on like having like there's definitely insider trick boy
Like and it's people that are internal that they know what's going like that. It's the truth now
That doesn't mean that everybody's doing it. I mean, I would say most people are actually just
Yeah, I want to be clear. I'm not suggesting Kay money is doing that. No, that's not what I'm saying
I'm just saying that you know and he can make fun of me for my gaming videos
But there's a lot of different ways to make a lot of money and I can say meme coins is very unlikely to be one
Of them I'd say you have a better shot making money on gaming videos than meme meme coins
Not that you should care. I'm just saying wait that being said Kay money. That's why I've been trying to get all these pieces of shit
Okay, I have no interest in doing videos for anyone ever fucking what because nobody wants to save the price that I want to be
Paid anymore. Nobody wants to see you on video
Franklin what is this? There's no way he bought it
Did you buy it? I did not buy it
But I am baby. Can you why are you playing music? This is not gonna get me. Okay
All right, you know inspired by digital
We need everybody on stage right now to switch their PFP. Can you imagine this stage is just all Franklin PFPs?
All right, Jonah you start
Just just one second. I'm actually the reason I'm wearing this is waiting for the new owner
To actually claim if he cares about the identity or like this is this is like an active
bunny move or an active t-mos move like
Come and claim it motherfucker. I'm down. Let's have a conversation
Just got that Franklin board PFP just drop like 30,000 fucking
FTT. Yo Danny and Kevin. I just think digital wants attention right Danny and cut
What you know I may or may not be dropping a product that is focused on the value proposition of an IP versus
Connected to it. So yes, this is
High-leap. Sorry brother. This is active theater
All right, somebody oh actually I think we're gonna
Okay, as we've been as we've been stalling here. I think we're gonna get quit here in the space that to talk about these 404s
Which would actually be would be really leap leap. Did you trade any yet?
Well, no, I mean I was traveling all day yesterday and the day before I just was I don't know I spent time with the family
I didn't see anything about Pandora until it was already about the fucking so okay. Yeah the Pandora like that was
like every it seems that at this point every every two months I fade generational wealth at some point or I fumble it somehow
And Pandora was definitely that
But I will say it is crazy to kind of see because like I started trading
Like 404 is like last night around like I don't know like 2 a.m
Or something and I was just like looking at the charts and like looking at the volumes and buys like bro
people are throwing like fucking like 19 eth clips like it's fucking nothing and it just kind of like
Showed me that like a there's like there is like a lot of liquidity ready to go on aetherium
They're just waiting for something interesting and be
Like I think Asia really likes 404 is like Asia has been bidding the living shit out of like ordinals and BRCs
And it seems like they're really subscribing to the 404s
Cuz like even like last night control freak the founder of Pandora
he was like doing a space with like L bank and I like hopped in and like
Everyone's speaking like like there's like a bunch of like Mandarin speaking speakers up there
And they're all just like really curious about it and like the fucking gamification of it
And I don't know. I like I do have yeah, like I do have some 404 bags
I'm not here to like fucking show you guys on I'm not here to like say like buy or anything
I just find it fucking interesting because I haven't seen like liquidity like this
on like aetherium in a minute and
I don't know like the whole fucking
Concept of it is fuck it's just interesting to me like I'm curious to see like what people are gonna do with this like six
Months from now when it's like I'm sure it's gonna be way better
It's kind of do you think this will start the bullet eat it though 404 is an ordinal start the ball
All right, one at a time and also maybe who knows
Again, I don't understand it enough on a technical level and I think anything new is obviously gonna have a lot of attraction to it
Also Kevin was control feet the same one who did
He worked on that bent on the like orange thing was that him as well. Yeah. Yeah, he did. This is orange
And like just a bunch of other things. But yeah, I mean like dude like he's I
Don't know like like people can like love or hate control freak
But it's just kind of crazy because it's like he eventually struck gold dude and like he did it
He did it twice. I got it
I've heard some things whatever but like he hit it twice. He captured lightning twice
He's based as fuck. He's just a fucking psycho
It's just it's just wild because to be able to I don't get it. I don't get it
I don't know how it got so big we do have quick here
I want to go to quit in a moment where I appreciate you coming in on such short notice
We were reading your thread earlier and that's how I've gotten all my information on this. I appreciate you
Let's go to the hands first and then we'll jump over to you. I do want to throw it to Trevor Trevor
Talk to me. What are you thinking about this?
Yo, everybody in this space is looking for the quickest buck they can find right now
Like that's the meta right now
Is that like the more the bigger the scam the better like let's pump it up and let's dump it as soon as we can
Or not as soon as we can but like let's ride it out a bit
Let's like when people bring up any question about like what this is supposed to be or do in the future
Let's just gaslight the shit out of them
And then let's like as soon as like let's pump it while we're dumping it as well
Like let's tell people how we're never gonna dump it and we're gonna dime it in the shit out of this
And let's dump it while those people those fools are buying into it. Like seriously. Yeah, Trevor who hurt you. I
Feel attacked though. I'd never sold my clone. I've been rocking this thing for two years or three years almost now, bro
I feel like you know if you're gonna take shots at me at least come with some good ammunition. I
This is the this is the meta that we're in
I think it's like a lot of just people who've been in crypto now for you know, a cycle and a half
They didn't get genwealth yet
The market size of people in the space who didn't get genwealth in the last cycle is pretty big
You know like the majority of people and they're just you know
Like you have to be comfortable with like playing long-term here
If your goal is to build value in the space then you're gonna make money right like the only way to make money is by
Consistently or predictably is by building value in the space as like Jonah alluded to but I think there's people are a little bit like
If bull markets coming back they're like I didn't get genwealth in the last bull market
How do I make as quick a buck as possible? And so a lot of like these
You know not necessarily scams again, but like
The more Ponzi the better right now like people are ready to roll the dice and they're ready to jump into something
I think your C 404 is actually kind of innovative honestly, but it's innovative in the way their friend tech is innovative
It's not innovative in the way far casters innovative. It's the financialization kind of innovation
It allows you to make a NFT like fungible and sell fractions of it and you can't claim the NFT unless you have you know
Enough that it equals one and I think it's kind of cool and innovative from a programming perspective, but it's a financialization
It's not a net new value necessarily being added in my opinion
And I think we're just in this meta of like also if you guys think that like listen
I love the Asian market like their G
but it's on a different level when it comes to looking for a quick buck in the Western market like
If you think that people in the Western market are looking for a quick buck like the Asian market is even more so like
That's cool. Like the the level of degeneracy. I love it
But you know Asia is not like a long-term. I think bull signs depending on you know
What you're looking at right? Like
When Asia comes in they bring a lot of liquidity. Yes, but they also dump quickly. You know, that's right
Council, I'm kidding there. Listen, it's just the culture of Asia. It's not a it's not a racial thing
Asia has many different races by the way, like even you know different countries within Asia have different minorities
He's just giving you a hard time you don't need to explain he's you're good. Okay. Okay. Look I will say this
By the way, by the way Syria other work guys, can we fucking calm down for two goddamn seconds here?
Quit I apologize. You're a scholar and an intellectual don't
Don't pay them any attention
Look, I'm skipping you. I can't do this anymore
Leap all I was gonna say is that my Deb just hit me and we created a new 651 standard that locks assets
As soon as it's listed. Okay, you guys cannot just keep it's not a standard. You can't just
This you can't just say you have a standard and it's a standard quit again. You're a scholar and a intellectual. I apologize
But look I want to I'm going to quit
So actually I actually hit up quit almost like two three weeks ago to actually come through and talk about something else
Because I've been following for a while and I like their work
Quick good to have you up here. I know we have some hands. We'll jump to them in a moment quick
Let's just jump straight to it. Talk to me about this for for what's your take? Is it legit? Is it not? What do you think?
Yeah, so you've touched on it already but 404 uses the term standard quite liberally
It's not an ERC never went through the IP process
so it's at at best an experiment and
you know, I kind of expected that it would be
pretty exciting to dig through the code and I was I was a little bit disappointed to find that it's
It's a lot of the ERC 721 logic
with like the ERC 20 logic just spliced in and it
It looks to me like it's hard to say how much time was spent building it
But it looks to me like something that was thrown together in 20 30 minutes
So I'm not very technically impressed by it. It looks more like
Like somebody found found a way to make something exciting or marketable and and did exactly
So, okay, so here's a flat-out question is it innovative?
But no, it's not innovative at all besides using it as a marketing ploy
Okay, that's an interesting take why do you say that I
Mean they just randomly give it a number in the name like
They named it. Nothing, right?
404 is nothing like a 404 page goes back to nothing like it was just a marketing ploy
It was a strategy it was to get attention and it did everyone's talking about it
He is right about that. I did read that it was an arbitrary that number 404 was arbitrary
So, yeah, the the number the branding behind it. Absolutely
I think that there was a ton of marketing that was some did you know froggy friends is coming back with a 404 token?
Bro, they went from and this is the wild thing about the space as well
So I looked at it for me friends were doing they're like point zero three floor and we're doing like five to ten sales a day
For the past god knows how long they say they're doing a 404 a thousand sales in a day and
Floor price went from point zero three to point two a thousand sales from four to five
So this is what I was saying before and it and Trevor
I think you can probably attest to this when ordinals initially came out
There were a lot of projects that were put and put dead or inactive that came back and said hey
We're dropping ordinals or if you see 20 and whatever and for a lot of them
It didn't work for some of them
It did and I think we're gonna see the same thing with with
404s or some equivalent to them where projects that don't really have anything else that they can try they're like fuck it
We're just gonna run this. This is our last play and honestly it might work for some of them
Maybe it does revitalize the community and does well
But I I really just suggest
Apprehensiveness when it comes to this just because I don't know man quick
I wanted to ask you because you just connected here in a moment. So one is it innovative and two are there any risks?
It's it's innovative in that we haven't seen it before but I don't think it's an NFT in the way that we think of NFTs
so if like a rugs project wanted to come back and launch this the same project as a
404 they can't really do that because a 404 is is
Infinitely mintable. So you need like infinite metadata and that's why Pandora has like I don't know for four different boxes
Right and you get randomly assigned one
It's not like 10,000 unique images
And if it were it'd be really really hard to keep that
Oh Jesus look you got to give that horse a new fucking carrot quick. Oh my god, dude
What a horse? Yeah, he's on the Amish internet the Solana phone Solana saga
It might be spaces too because I'm not sure but I think you just connected it right there as well
While quick comes back on a reset the space. Welcome. Everybody is the ERC 404 scam
I don't know if you're enjoying any of the conversation click the button in the bottom right hand corner and give it a like on it
Retweet every like that happens on this post and there's 42 currently a new token standard will be born
That's kind of how it rolls quit. You did. Well, okay. We'll wait for quick to come back
Does anybody have any other takes here? We'll go to Basel Basel. What do you think?
This exact topic there's a concept that's you know, like it came up
I read about it, but I don't want to mention it on the space
I just DMD about it because the naming of this exactly likes an interesting concept but the naming of it
It's very debatable and I wouldn't like to bring it up unless you give it the green light
So check that the end if it's okay to share it if yes, like it's not chilling
It's not a project or anything. It's not just a protocol but I'll DM you the naming because the name is kind of weird and
Yeah, so I'll DM it to you on the minnow
There's a milking bowl. But yeah, you know when Kobe said that these are just
Tokens with ship or JPEGs or shit coins attached like
Why would why do people manifest the worst things like wag me? We all got mental illnesses
Liquid these the 404s are liquid, right? Okay. I said it's human. Okay, so
Okay, and this goes back to my question for quick is is it innovative and to is it dangerous?
Okay, so I'm gonna try this from mobile I was trying to do it from from desktop
But you know spaces likes to work sometimes and not work sometimes
I don't know where I got cut cut out, but you can't do it with a 10k collection. I think it was around there
Because every time you transfer a token or go through that mint and reroll process
you would need to attach new metadata to a new token and that's just
Ridiculously complex if you're going to be generating something brand new because you've got an infinite number of
And it does it just doesn't really make sense. Everybody eventually ends up with the rare ones, right? So innovative
Sure, it's something we haven't seen before
But I don't think that it's particularly useful as like a as a collector's item
It's closer to an ERC 20 than it is a an ERC 7 to 1
so I think in the long run they'll just act more like shit coins than then NFTs and
To is it dangerous? I mean if you read by thread, yeah, it's dangerous we a
lot of existing protocols rely on
the transfer from function to work a certain way in order for them to to work in order for them to function and so
ERC 404 breaks that assumption
Fundamentally for a lot of of these protocols and so
At the moment, they're not used in many places. I was looking through, you know before I posted last night
I wanted to make sure that they weren't currently exploitable
If they were I would have sent the founder a DM rather than posting it publicly
But they're only they're only approved to five or six contracts at the moment, which is like blur seaport
And a couple of other ones that don't really do much. But as they start getting used for more and more things
We'll run into more more and more exploit ability. So like for instance
Really really close to being exploitable by itself
right now you can get a a
and a collection offer is
like 5th or something 6th
Maybe even higher. So if you have any Pandora you can sell it into a collection offer for for $10,000 or more
We're using a certain zone in seaport, which at the moment none are but if you generate an offer programmatically
Maybe you will be if they're using a certain zone in seaport then you could actually dump tokens
into a collection offer and
40,000 tokens, which is is a very very small fraction of a full NFT because remember
One times ten to the 18th power tokens. So you you dump what's a sec effect effectively like
Fractions of a penny very a very small fraction of a penny for
$10,000 because they use the same transfer from function for tokens as they do for NFTs
so that's an exploit that you know could be possible on OpenSea if not for a front-end limitation and
Other exchanges won't have that front-end limitation or like lending platforms won't have that limitation
Borrow 80% of the value of a
of a Pandora NFT against fractions of a penny worth of
Pandora tokens and that goes for any 404. So I expect we'll see plenty of
Mishaps as people start to use these in more composable ways if they're used across
NFT phi or if they're they're put into more obscure
Exchanges or bridges or vaults or like anything like that. It doesn't really work with any
If I can chime in real quick, there's one project I don't own any of this
I feel okay mentioning them
But since I came up because you said that like doing a 10k collection with with true rarities
Or at least like unique attributes would be hard to do with this. There's one project that looks like they're doing it
I don't know if you've taken a look into it or not, but it's basically defrogs
And you know, whatever I'm not saying go buy it. So nobody go buy it just because I said that
I don't know that's the thing I've been trying to wrap my head around as well because I've been just immersed in this over the
Last couple days and and that's what I came up to ask you about because that was where you cut out
Yeah, I haven't looked at defrogs
So I'd have to look at their contract and see if they're following
The same 404 formats that that Pandora put out. It's not impossible to do. It's just
Ridiculously difficult right they need to generate new metadata on every burn and mint event
And maybe they're doing it. It could be it does mean that you've got to centralize your metadata
You can't put that on on IPFS. You've got a house like I don't know Google Drive or Amazon
So how do you have logic there?
There are plenty of NFTs that use centralized storage at the moment
They do exist just because it's not on IPFS doesn't mean that it's it's not it is more
You know, it's more centralized, but you know gaming assets things like that
Okay, so let me ask you this quick
Yeah, there's risks. It's exploitable so on and so forth and they'll probably be things that come up with it
But a more broad question. Do you think this is an important?
Let's say inflection point in the development of how we think about NFTs
Like regardless of this iteration is is good or not or like maybe this is the worst thing ever right and it like ushers in
An entire meta that's unfavorable to collectors and whatever it might be
But like outside of that, do you think over a longer period of time?
We may look back and say okay, it was important that this happened. What do you think?
No, I don't think so. I think at the moment the fractional ization that we see is is
perfectly fine for supporting liquidity and NFTs
it separates things in a way that makes it safe to use and
Preserves both the the NFT and the ERC 20 side of things
Help that nor does it nor does it replace it?
So I don't I don't think that it's something that we'll look back on and think of as an inflection point. I think
More than likely in a month or two months time. We forget that it happened
Are there any is there anything about this that's a good
It showed us that people are still on Eve so yeah
But uh, yeah, I mean we've got gas above a hundred for like the past couple days straight, so that's nice to see
Well blast is about to I mean what's your take on blast?
We're about to have 1.4 billion in liquidity and by the way
I don't think it's gonna flow into everybody's favorite shit coins or NFT projects
Like I hated that narrative even in regards to Jupiter people are like, oh Jupiter's coming like all of our things are gonna pump
That's not really how this stuff typically works
At least not immediately, but what's your take on blast?
Yeah, I don't want to be too harsh on blast
They they've had their fair share of hiccups. I'm interested to see what they do when they launch
I'll say that they you know, they
Pac-man knows how to market things. He knows how to raise money and he knows how to bring interest. So
The success of blast is going to depend on what gets built on blast
I think they have a lot of money to throw around at builders
So we may see something like similar to what we're seeing on on base right now
Where a lot of people just build some cool shit on there for for the sake of funding
Blast has potential but you know, they started off as just a multi-sig with no chain
they they raised a whole bunch of money from
Investors and then later from the community
Which just got locked up in in basically a bridge with with no destination
And it seems they started building the actual l2 after they took all the money
So I don't love that but now we're approaching unlock
We're approaching the actual launch and I think they could they could build some cool shit
What do you think about the idea of
Like we were talking about this the other day in this space
I don't know exactly what blast is trying is it like an NFT chain?
Is it like a defy chain but just like the idea of a new chain or a chain?
That's almost centered around just the speculative gambling aspect of what people are doing
I don't know if that's a good or a bad thing and by extension to that question. How do you feel about the
hyper financialization, I mean like the 404 is essentially the
It's like the pinnacle of the hyper financialization that exists within NFTs right now and maybe it maybe even gets more dire
But with everything being airdrop and point it seems to be that at this point
Nobody wants to do anything unless they're gaining points. I mean, what's your take there?
Yeah points took the world by storm didn't they I
Think a lot of the points that we're seeing are not going to turn into on-chain tokens
So people are going to be disappointed with that
the reason everybody launches points and not tokens is because you don't have to go through jump through regular
Regulatory hoops to launch points and you do have to do that to launch a token you have to worry about
Are we a security? Are we going to get subpoenaed by the SEC?
XY and Z right, but if you just want to launch some some points on a website
You don't have to do any of that and and just that fact to me means that a lot of people are going to keep them
As points and not actually convert them to your C20s, which means you'll never be able to sell them
Which you know, maybe that's fine. But as far as blast being popular
It's only gonna be as popular as what gets built on it, right if if I don't see NFT is really migrating there
I'm kind of interested in what the thesis was because I thought it was an NFT chain
I thought that was that was kind of the purpose
NFT liquidity moving there. I see it staying on on mainnet
Which means that we're gonna have to build some other cool stuff on blast and most likely there's going to be some like gamble
Fi and stuff like that, but people go where the money is and so unless there is enough
cool stuff to do on blast
We probably end up somewhere else or back on mainnet because sure you can go there and gamble and you know
Roll the dice a few times
But once you win or lose money if you have nothing else to do there, then you think to yourself
All right, what now? I guess I'll just bridge back out and then your blast experience is done
so you need more of a fully fleshed out thriving ecosystem and
Like I said, I think they have the money to build that I'm just interested to see if what they do
What do you think about the take that gambling secures the network? So it's good. What do you think about that?
Think all activity is good. So whether that be gambling or
Staking or buying NFTs or collecting or whatever. I think
activity on ETH is good. I
don't know that I think it really secures the network because
Nowadays like the high activity and higher gas fees
Aren't what pays validators
To some extent it does through through like MEB and priority fees and stuff like that
But for the most part validators are getting money just based on
Ethereum emissions, so we don't really rely on that activity
As much as we used to but I think you know, if you've got no activity on your chain, you're a dead chain
So I want to see as much as everyone hates it. I want to see how gas gas prices
I want to see everybody using eat. I don't care if it's a hundred gray all day every day
It was during the bull market. We survived back then we'll survive again
So I like I like the activity. So I
Got just a couple more questions. I know we have some hands. I appreciate you guys as patients
So I am I've said this before and I'm interested to what you think I think that in five years
to maybe ten years who knows that we'll look back and say that the amount of activity that we were doing on mainnet and
just even thinking in that way building a lot of the things that we're building on main that will be looked at as archaic and
Most things outside of like extreme high liquidity
Actions or activations if you would are probably going to be on L2s
Like furthermore for the question a huge part of the narrative especially around November and December when Solana was popping off and after
$8 to $100 many people were saying and I
Regrettably kind of succumbed to what the timeline was telling me at the time
Which was that eat has no narrative and essentially eat this debt, which obviously is not true
But what do you think about that?
Do you think because like the biggest argument that a lot of people have for eat is that well?
There's gas fees and it doesn't matter that
Like proto tank sharding coming or any of these new things gas fees will always exist and L2s are way too
Convoluted and you have ten different times of a theory. I mean a base eat optimism eat, you know, like so many different types of eat
Do you think that those are
Legitimate draw downsides or criticisms of a theory or do you think they're more so features and not a bug and they'll get some
Yeah, that's features there, you know, it comes down to UX and at the moment
I'll be the first to admit that the u.s. Of
But that's gonna get a lot better over time. A lot of people will never even touch in L1
they'll buy eat on a centralized exchange like coinbase or Gemini or whatever and
Withdraw directly to an L2 and then maybe bounce between L2s without even knowing it
So I think it's all it all comes down to the user experience
And and I think we have well, we have so far to come
In that regard, but I think we're making strides there and and you're right in a few years
L1s will be largely used as just a settlement layer and most people won't touch them at all
the big projects I think you know crypto punks and and
The more historic projects that exist already on L1s will stay there
But I think that most of the like newer experimentation and newer projects will probably launch elsewhere. What do you think about Solana?
Talk to me quick. I've been using it a little bit
I I always I always said I'd never use Solana. I've been using it a little bit
So I'm warming up a little bit to it, but it is
It is a pain in the ass as a developer to try to build on Solana I
have been like reading the docs and and
Digging through everything they've ever put out and it's just so
ridiculously complex that
The developer experience on Solana is just a pain in the ass now
That is if you want to buy like build something custom if you want to launch an NFT or launch a token
It's actually really really really easy
But you you don't get to like write your token code. You have to you just basically
Tell the command line what you want to name your token and hit launch and it launches
so building anything custom on Solana's is is quite annoying and
I think the chain itself is very I mean we saw it go down the other day, right and
The only way they can get it back up is to ping all the validators in discord and say hey guys
To ready the horses and and get back up to speed and then once we really I think hit 80% or something of validators
then it launches again, but
Imagine that happening on ETH it would be
So I think in a lot of ways
It is very centralized and I don't know that that's gonna change over time
I think you know, they prioritize something different at launch they prioritized
speed and and low transaction fees whereas ETH prioritized the centralization
And and went to towards speed and transaction fees from there
Solana said we're gonna be fast and we're gonna be cheap and then
Hopefully one day will also be decentralized and I'm not sure if that'll happen or not
But at the moment like it's it's so did
Construct your own transaction
That I don't see it really
Reaching like aetherium levels at any time soon. That's not to say the price. I don't know what the price is gonna do
just talking about like the
The nature of it. So what would you say to people who because we've had I mean quit
We've had so many of these discussions over the past eight months here
However long like ETH versus Solana and now I'm at a point now where it's not ETH first Solana
It's ETH and Solana or Solana and ETH and I think they're both like you said
Solana alignment is just very different than what aetheriums trying to do
The culture is different from a top-down level even the founders whatever it might be and I think it's okay
That Solana is trying to do different things and approaching it in a different way
I think for a lot of people they just continually fall back on
That it went down and I fucking I don't disagree. I think the blockchain going down is very bad
And if like exactly you said if that happened on ETH it would be absolute
Pandemonium that being said I have a lot of Solana bags and I have a lot of Solana NFTs and I've been using it
Since late 2022 and I fucking like it
And I think it's really good for a lot of things
You mentioned the difficulty in writing and rust for solidity or just building on Solana in general
Have you are those things where I saw things where you can basically still write as if it's an EVM
But it'll work on SVM. Is that a real thing?
Yeah, they do have like an a
Transpiler so you can write it in solidity if you want to but it it
If you want to build something good you probably shouldn't you should you should stick with rust
Which is fine. It's not to say that the rust is hard. It's more about the
Obscure nature of the chain like solidity as a language super easy
Anybody can learn solidity in like 10 minutes if you know if you know other coding languages super easy
The hard part is the EVM and knowing the quirks of the EVM and how to not fall into
The same traps that other people have fallen into
Code in the past and I think the hardest part of Solana is understanding the actual network
Architecture and what's been built there already. So you can't like just hop on a block Explorer and
and look at the code for your favorite project on Solana, it just doesn't exist and
so you actually have to like pull the bytecode down from
Metaplex or one of their token launching
and then compile it in your own local environment and and read it through that way so this I
Think it's mostly just like a UX issue like their block Explorer is not
anywhere close to as useful as as ether skin is but
You know, they they can get there
they can do those things just in the same way that that
Ethereum has a lot of UX improvements to make so I think Solana will get better over time and like you said
They serve different communities. So
Solana is a little bit centralized maybe sure but so many things on ETH are already centralized
And it it doesn't even make sense to have them on such a on a network that
prioritizes decentralization so much
Like I don't know metaverse plays and XY and see that that hosts their meta data on on Google Drive
Like sure you're on this this great behemoth
Decentralized chain, but then you can just rug the metadata or like burn tokens at will or XY and Z
So you still have to have a hundred percent trust in the team
Or else the team can rug you in a moment's notice. So things like that
May as well exist on Solana, right? Because then it's faster cheaper and sure you add an additional trust component
You now have to trust the network as well as the team
But like you let's let's make no bones about it. It was never decentralized to begin with the project. So
Go ahead. I think it's fine. So
Okay, so a couple things so even like you I think you make a point about aetherium
I mean what Lido wait was it today? I think it was I
Saw a tweet where it said one point five percent of all the etherium supplies essentially steak now
Which is the highest it's ever been it's something like that. Is it twenty five percent?
I don't know what if it was one point five or twenty five percent
I have to look at the numbers the point is a lot and there's a ton of each state and Lido as well
Think it was twenty five percent actually I'll have to find the tweet
So it that's an insane amount of the theorem and especially just look at Lido. I mean they have so much of its state there
Which obviously is not good for decentralization either
But there's a lot of people on soul where I believe have these debates quit so often where it's like, okay, so long as
Centralized and then people will come up and they have actually a lot of good points of why it's not
One thing that people reference is the Nakamoto coefficient, but I don't know how
Much the Nakamoto coefficient actually makes a difference
And you could say since the theory went from proof of work to proof of stake
Maybe that made it even more centralized because then you need you know quite a bit of eat to even state
And then there's people who say Solana centralized because you need a lot of money to buy the hardware to run the validators
I mean, what would you say to that?
Yeah, so I run a couple of home validators and the hardware required is is really really easy on on ETH
It I think the hard part or the more confusing part is actually the software getting it set up
but I've walked a couple of people through that even and
If you have if you've never written a line of code in your life, you can figure it out
You can get through setting up a home validator. So I think for ETH the requirements are quite low
validator for Solana, so I can't speak too much to it. However, some people I know have done it and
their experience with it was that
It's quite annoying to be a validator and
You'll have random instances like the chain going down or something like that and and you'll need all hands on deck
You know, I know some people that ran it at the enterprise level
And you'll have all hands on deck
For the entire company to come back and and try to jockey these
Validators to be ready for relaunch and kind of get it like you have to get all the horses to the gate
Right, and then once you've got enough then you can relaunch the chain
But you have to get everybody back to that starting point and getting everybody there is really really annoying
But that is I'm not I'm not knocking Solana again
I think they you know, they've made great strides
even in the past a year or so and
And they have an interesting setup. It's just
It's technical technologically impressive what Solana has done is it's very very impressive
much more experimental than
Eve and I think as such we're more prone to seeing bugs and things like like we saw earlier this week
You know, I also think one of the modes and then we'll go to the hands here
But I think one of the most impressive parts about Solana forget the tag forget this forget that dude the fucking community
When that show was $8 and your community is still full posting
I'm like everyone's like it's Solana's dad and the community is still full posting that this just coming back
And it's going to all-time highs. There were a lot of people that just genuinely believed and
After I went to breakpoint this year in Amsterdam
That's when I really was like, holy fuck like Solana is and this was like right as it was starting to ramp up and go crazy
Again, but that's when I was like damn dude Solana is this community is different
And it's tough. I mean post FTX a lot of was in a really bad position
I know a lot of people were saying that they bought it $8 and they all knew it was gonna come back
Y'all are fucking liars. I remember the spaces back then and everyone dude
Everybody was on stage like I'm so much Solana. It's over like cryptos like I lost like it's over
Even I thought dude, I'm not gonna say here and pretend
I thought Solana was gonna survive post FTX when that shit was just going down 10% 15% every day
But most people thought it was over and
Is so impressive that it that it came back in the community stronger than ever
So that's to me why most bullish on Solana and has little to do with the tech and more so to do with the community
It might be kind of narrow-minded but
That's not thinking about it. Yeah
The eat community has been through that maybe not as bad as Solana post FTX. That was
Incredibly harsh, but you know the eat community
Road eat back down to $80 or something like that after after I was at 1100
But for sure, I think that the Solana community props to them for sticking through that
I I have a small Solana bag and I stuck through it mostly because at the bottom is worth like $5
Ethereum total log value 37 bill and Solana
On defy Lama, so there's something yeah some people okay
So it's obviously a big difference some people have an argument that TVL is mostly a vanity metric
I think there's some legitimacy to that. I think there isn't it just depends on how you're looking at it
Like I know Merck would probably say that TVL is a vanity metric
So a lot of prove that with the Macolino brothers you just
Stake a token to get another token you stick that token to get another token
You can stoke stake the tokens a hundred tokens deep and then you turn a hundred million TVL into
Wait, who's the macchiato brothers? I'm just saying that's 30 acts though. That's 30 acts sleep
You didn't hear about the Macolino brothers
I mean, they're the guys who got Solana the 10 billion TVL by literally
Staking a token that gave you a stable token of that token and then staking that token to get a stable token of that
Token and it went like literally five six layers deep
Wait, isn't that kind of what I can layer does though? Isn't that like restaking or is that a little bit different?
That's different. It's different
And they they launched like all these protocols as if they were other teams
But it was all their team just like launching a new protocol one after the other. It was
That's it's pretty legendary story actually. I
Didn't know this. I actually don't know a lot about the early Solana days. I mean I got in late
It was like late 2022 October when I first bought soul
So I missed the initial crazy run like I was already
Like when all those like oh geez a lot of NFT projects came out
I'd miss them SMPs or teaching a like always even D gods whatever
So, I don't know I don't know but he's has a lot of problems too
I mean like how many fucking mega whales hold so much eat that we're buying, you know eat at pennies or whatever it was
Yeah, I don't know I think that same thing with Bitcoin something exists on a lot of chains like that
I don't know specifically that story. It sounds fucking sketch though. Are you saying it was just a giant scam or a Ponzi?
What was it? I just been to the top. So they're the founders behind behind Sabre. They're like two young guys and
They launched this this D5 protocol of on Sabre and it would allow you to like steak
I think it was collateralized a lot of I'm not I don't really quite much just but anyways
You just basically stake a token you get a new token and then they came along and they created alt alt
Accounts like they created multiple teams of alt accounts launching new protocols
And you would stake the soap the Sabre token and the new one and that would give you a token
They'd stake in a new one and that you that would give you a token that you'd stake in a new one again
they did several times under all like team accounts and they made a big hype out of it and
It literally gave Solana multiple billion dollars in TVL
All right for research purposes can somebody write me a step-by-step guide on how to do this look
I want to throw it over to let's go blockchain. Ninja blockchain. What do you think in?
Well a few things so first one is for quit specifically
You have to look into some of the first investors in blast
There's one of the investments for between 15 and 18. I'll keep it it not an exact number
so it's kind of hard for anyone else looking but
Look at where those funds came from. I'm actually gonna shoot you a text tomorrow about it
Is it from blur is it from blur fucking captain seats? I'm not gonna say on an open space
there's still investigation going on by a few people to
Trace a bunch of stuff. Anyway
It it's it's a marketing ploy. It's a gimmick. That's literally it like imagine a collection
Imagine the pudgy penguins and and I know quit saying like it'd be too outrageous to do this
but essentially this is what they're doing if you took the pudgy penguins and
For every one of those you could make an open edition. So it's a 10,000 piece collection
But they're all open editions. Like what's the what what's the point? What is the point besides a marketing gimmick?
Like that's it. That's that's that's kind of all I had to add into that besides leap. It's been too fucking long, man
Curl what's up Zeke and low? Yeah, that's it quit
But you really do need to get a new horse for your Amish internet out there man for real
Let me say this. Okay, first of all, am I and good to see you too. Am I crazy?
Somebody tell me if I'm being crazy right now
Why do I think that this is interesting?
am I not seeing the obvious downsides if there are any like why do I look at this and say hey,
this is actually kind of interesting and
It it may be the best of both worlds with the ERC 20 and 721 it is there something I miss
I think there is but like what is it done? You like shit tokens like no, I don't you crazy
Leave it Kevin. How many times have you and Kevin sat here like talked about shit tokens for I don't know
Hours, I don't even do it. I said it at the beginning of the space today
I've not traded a shit coin and probably like two months. I
Patches is dying, but you know
He I know he has the answer
Just let just let him go. All right patches. Tell me what like maybe I'm too smooth-brained. You have to middle curbing
But why why do I not see what's inherently bad about this? There's there's a couple of things to me
This is just the pendulum swing of metaprotocols and ordinals bleeding into other chains
And so someone who's non-technical really?
Created ERC 404 because they think that you can just like put letters and numbers together and that's a thing
And it's not a thing. It is a process in which governance exists and ERC 404 is a thing and
The other part is that it's this technology that you're talking about is just not new
It's you know, there's ERC 4 6 7 5 that introduced a multifractional non fungible tokens
ER or EIP 1 6 3 3 that had the refundable token standard that extended ERC 20s to
Have a facilitative shared ownership of it in ERC 7 21. There's
What is it 1 1 5 5 which has you know, some of these features. It's just like what happened was
Someone who kind of didn't know what they were doing but knew enough to be dangerous is my estimation or it was just marketing
Created a thing that made everyone talk about it and they were successful. We're in here talking about it all night
So I you know props to them. They created this metaprotocol. But the problem is it's it's not
Doing anything new technically that aetherium could not do before this went out
It did not go through the verification methods in which aetherium has in place to make sure things are vetted
engineering wise before and these other ERCs that have been through the process are
Stacking it on the EIP process and so they haven't really been updated or used for six months
So even though this is a functionality that you're looking at and interested by this has existed for over half a year and people don't use
It so what's happening is only
There is hype in aetherium and to quits point
I think that is the only thing to take away from this is like leap you're excited
But you don't know why and everyone's excited
But they don't know why and it's because we're on the cusp of a bull run and someone saw something new like, you know
I'm on far caster. That's fun. You know, I'm experimenting with like some new social media stuff with frames. That's cool
I don't know what's there yet
But there's this excitement in the air and so when new numbers and letters come out and you're non-technical and everyone's talking about it
we just run in that direction and and so my point being
This is only a good snapshot like what quit said
We'll think about this as remember when everyone was like going in that direction and we were hyped everyone's hyped
That's the only takeaway if this is a techno technological thing you could have done this six months ago
There's multiple different ways to do it in more vetted engineering ways to do it. This is just what's the standard?
What's the standard in order to do this?
ERC 4 6 7 5 is one smart contract for multiple NFTs
ERC 1 6 3 3 is the fractional ization of NFTs and
20 years to 20s and then EIP 1 1 5 5 I think is
Has some overlap as well, but I got that one from chat GPT the other two I know about so
So like I think one of the things right like from it. I'm not a technical person. So
Can't come at this with that background or with that knowledge
But I will say just like from a general perspective. I think quit said it earlier
About like taking two things that already exists. Obviously the the ERC 20 and the ERC 7 21 and they kind of mashing them together
Like I asked fucking control last night about like, you know
Why do you call it an ERC if it hasn't been if it isn't a key, right?
But I think that's the thing that like
To not get like too caught up one because the thing with with combining
ERC 20 and 7 21 is that it's like there I know on a technical level. This might might sound I
Don't know what the word is. It might it might sound stupid
But it's like there's nothing
Originality is usually just taking two things that already exist and combining and in a way that haven't been combined before
But they haven't been combined before that's my point
For three different ways that were vetted and there's even another one that is fractionalizing RWAs that does this better
There's a lot of really cool things the t-rex protocol. Don't say real estate. Don't say real estate patches. I said, okay
So the name, okay, so so it's ERC I understand but it's also the board a yacht club
When the fuck has there ever been a yacht in the club? Is there ever been yachts involved in four days?
There's just names. I've been to NFT LA. I've been to NFT LA and NFT NYC. We've both been on yachts
They're like they're like fairies at best
Secondly, these are like the name is marketing, of course, but like control is really fun. Again. This is not the first time
He's captured lightning in a bottle
They're just good at this shit. Like they know how to get fucking people talking about it and how to do interesting things. I
Understand that there's been let me read this DM and I always say that I got a DM
But um, I actually did get it. I swear I actually did get a DM this time
So it is a real one, but I'm not gonna say who's from so they DM me and they said nice of you to host bad takes
Night and I said crying emoji and they said let people blow off some steam before the weekend by wilding out with their horrible
takes very nice of you and
Then I said, what's your was it? I'm not gonna say who it is
And I said, what's your take and they said it's actually really interesting. It's not perfect and it's not the first of its kind
I'm sure but there's a reason it's taking over the entire meta
And then and then they wrote we have a marketing is in it like no, that's it
There's FOMO and it's in the air. That's that's the takeaway. It's I think it's important
It's it's just like ordinals. If you get market adoption and market effects, I'll be proven wrong
Your c4f will be literally everywhere. There'll be an in superior engineering tax that works. I could be wrong
But I mean, listen, it's not it
The problem is that everybody's looking for the meta, but they're not looking for the paradigm shift
So this is the ordinal guy versus the 404 guy
Alright, I'm done. Okay, who's the ordinal guy?
Well, okay. I love that patches is the ordinal guy now, dude. I'm loving it
I do love ordinals. I'm more of a cross chain maxi guy
Wait, wait, what are we doing with the with the Saturn's and the fucking the rune axes and all this, you know
All right, before we before we get to the whole hold on 80 a.m.
Yeah, before we get to the whole rune debacle because that's gonna be another another
10 hour conversation because Casey today is like fuck your arctic miners. I'm just gonna do the first 10 and hard code them anyway
We'll talk about that. We'll talk about that later
In my idiot, why do I why do I think this is interesting by the way, I don't own the 404 token
I don't own the Pandora whatever I've not purchased any of this stuff
I just I don't know. I missed it
So I'm not gonna chase it but I do think it's interesting to have some form of an NFT that can be traded natively into
a liquidity pool on Uniswap without having to use
Anything else that's similar. I understand the risk six seven five
Bro, I don't know what four six seven. Use one six three three
But that's good, but that's the thing like dude, I think like
Fuck it. I'm just gonna say it. Okay, highly technical people overlook the user experience so often and I'm
I'm all you listen to quit. It has a worst-use experience that fundamentally doesn't work with most of them a structure
No, it's bad for you to roll from a literal user experience of somebody who's buying NFTs or trading shit coins
from that user experience point of view from that perspective like it like the people that are actually using it and
Having it's like I put it like this instead of
Like look man. I don't know. I don't I'm not I'm pathetic, right?
Like I think builders catch builders are definitely
Empathetic tourism because they actually do the fucking hard work of making these things a reality
market participants come along and get excited about hype a lot of times there isn't really anything behind it and
It's like a total slap in the face to the people who fucking work hard to make these things in reality
Zico you're onto something
But the reason why it's called 404 is because anyone that invests in that their money is gonna literally disappear like it's
It was arbitrary it was arbitrary
And I think it's also kind of fair isn't the whole point of an 1155
basically a mix between a
721 and a 20 wasn't that kind of the point? Yeah. Yes
Yeah, and leap I think what you're getting at is that what you like about 404 is that it's easy to dump on?
Uniswap, right? Was that a po-app? Was that a po-app the 11 20 55's
1155 was polygon. Yeah those po-apps. Wait, hold up. No 1155s are semi fungibles
But there's plenty of 1155s now, but like yeah
Standard, but I'm not gonna pretend that it's anything very similar to 404 at all. But what is similar is
So it's three five two five two two things leave two things first thing
What you like about it is that you can dump it on Uniswap
Nobody actually wants to buy these things to collect them
So it should just be an ERC 20. There's no reason to have the NFT attached to it
Like nobody wants a picture of a red slash orange slash green box, right? It's not even a good-looking box
So it should just be an ERC 20 and then you've got your Uniswap liquidity. Boom problem solved B if you want actual
Fractionalization of an NFT. There are protocols for it. NFT X was one
They didn't have quite as much liquidity as the now more popular flooring protocol
but if you want to fractionalize a real NFT just use flooring and
When you do that the NFT is not destroyed. So don't get that mistaken with a 404
When you fractionalize it what you're doing is destroying the NFT and turning it into tokens and that NFT never comes back
But somebody can mint a new NFT if they want to so we're not really fractionalizing NFT. We're we're
Breaking them apart and then letting people build new ones with the pieces if you want to fractionalize a real
There is if you want a fraction they're respawning
Sort of respawning because you don't really you don't attach this the same metadata, right? You're you're
You're destroying it and then somebody else is minting something random. So it's like
If it were a board ape, right and you destroyed a gold ape
Somebody doesn't get to go ahead and take those pieces and turn it back into a gold ape
They get to mint a new board ape and who knows what it's gonna be
So if you want a real fractionalization standard use flooring. It's super easy. You just go to flooring or I think it's
FP.io instead of uniswap.org and then bam UX is back
it's like two clicks you get your your liquidity from fractionalizing and
Then somebody else can use your tokens to get back the exact same NFT. So I think that's more in line with like
infrastructure using our existing standards rather than trying to reinvent the wheel and kind of just
Doing neither of them. Well, so 404 is our ERC 721 and their ERC 20s, but they're shitty versions of both
Let me I'll just say this last bit and then I'll shut up for a while, but I think it introduces an inch
Like you just described binary decisions, right like fractionalize or non fractionalize
Dumping on uniswap or not being able to dump on your swap
Like what that what these 404s do is they basically they give you
It's it's no longer a binary game theory theoretic
Whatever, you know kind of speaking out of my ass right now, but it's like you have more options
It's not just it's it's not a decision
It's a choice of what you want to do with it
And if you if you follow what I'm saying, like a decision is like one of one of two options, right?
Whereas like a choice is now you have several options and I think that's what this does. That's what makes it interesting
All I hope is that like all I hope is that
The technical that is how I hope is it like the
Technical people technical people that people who are technical can have like more, you know
Conversations like this in order to like push it forward. That's awesome. Thanks. I just think like maybe I'm thinking about this the wrong way
But it's just been a while since we saw something. I mean probably the last thing I could think of was was ordinals
That like I felt like really like came in it was just like hey
This is a little bit different and people are going crazy about it
I can't think of something since then that's had this level of
Whether it's organic or not. It's up to you to decide but like this in my opinion just organic, you know
I'm massive amount of liquidity pouring in
I think most of the 404 derivatives or
Essentially soft forks if you would are gonna fail and go to zero almost instantly and a lot of projects are gonna just come out
And say we're doing 404s pump. They look what froggy friends did. Maybe it's a legit project
Maybe it's not I'm not trying to say it isn't but what they did is is basically that they went from three to five sales
A day to a thousand sales in a day and therefore basically ten acts
By just saying that they're doing this for a horror announcing it or whatever it might be
That's the nature of shitty height
Let me say one thing this is incremental ordinals was
You know, it was order magnitude. It was like solving a problem. This doesn't solve any problem
It's literally a different kind of financialization
Ordinals said let's make it easy for people to know what they're buying like everything is on chain. You can't do a lot of stuff
It's kind of dumb. But in that stupidity or in being dumb and lack of functionality is
Consistency and everything is the same and you know what you're buying it's all on chain
and you know what it's actually cheap because we have the segwit discount which we can take advantage of and
Then it built from there like it was solving a problem. This doesn't really solve a problem. It's cool
Like listen, I'm not trying to knock it. I never knock anything. It's great marketing
I'm disappointed to hear from from quit that like from a technical perspective. There's it's literally like a 20 to 30 minute, you know
Developer copy and pasting two things in the same contract, but from a marketing perspective I get it
But it's nothing new. It's like, you know taking an idea from before and then putting it at a moment when people are looking for
Literally any excuse like the dumbest argument you can come up with
How can we say that we're throwing it to quit
Because I want to hear what I was about to say
But how can we say this is not something new like me?
Everything is just pieces of like crypto and blockchain and smart contracts and development
It's not even an ERC. It's quit told you it's not an ERC. It's not a standard. It was made up
You're an ERC. Look, okay
We're gonna quit quit. What do you think?
Okay, so I actually take the opposite point of view here and that's what I was gonna say it is new
But it's not enough to be new I can create you something new in in an app
Give me an hour. I'll put out two new products for you
But you also have to be good if you're not new and good then what's the point?
Okay, I think that's fair but could we say and I think I'm just taking the contrarian point here
Cuz it seems like most people on stage are kind of against it. So just to have a like interesting conversation
so if I'm taking a contrarian point can't we say that the market decides what's good or not and right now the markets deciding I
Mean they like this they want it and they can't get enough of it
So is that no the market decides what's hype the chain decides what what is good?
Like there there's two distinct differences there. No consensus
decides what gets the liquidity if everyone decides all of a sudden they're gonna mint like
Defroggs and they're gonna only trade defroggs two things can be right at the same time though
Two things can be right at the same time
Oh, but what he's talking about is like where the liquidity is going right now
It's going there because everybody was looking for something like everybody was looking for something new even though. This is not new
I'm firmly on that stance. But like this is it's shiny, right?
Everyone sees it as shiny the chain will decide in in the liquidity will eventually decide because the liquidity is gonna move away
From this really quickly just like it does every other shiny object. We have that it has no substance behind it
We have to hear Yogi's sake cuz Yogi is bearish
Okay, hold up. This is not how this works
Yogi also, can we just if we just take a chill pill and relax here guys while we roll down the hill
I got a DM that said that it's totally not a fake DM
They said that 404 is more innovative than Bitcoin ever was so I Trevor bars
I don't know if that's we'll just skip over that one Yogi. Yeah, that person needs help a person needs a therapist
I don't know to get a degree maybe a degree like maybe go to trade school or like, you know, get a GED would be good
Wait, they said 404. There's a control is the control freak is the new Satoshi
Yogi talk to me. What's up?
Wanted to come in bearish because I am bearish on the whole thing
But then everyone's bearish and now I'm just agreeing with everyone. No, I think like I think the
Quit did it really what like flooring protocol just literally does this so much better. Yeah
Maybe there's a few buttons and I think that free lunch will figure it out and optimize
But when you mash together two ideas, and maybe this is the boomer in me
Like eip proposals on like what standards are usually have a vetting process a public like how do we think about this?
how do we optimize and this literally is just a shit coin with a standard and I don't think
Like it's novel and the fact that you can burn and buy
Using Uniswap and yeah, that's cool
I don't think that that means that we have a new standard that people are gonna use and I think most projects on that
Or just it's the casino dude. We're getting eardrops of a ton of stuff. I don't think this stuff has
Staying power what I do want to see and I think like the biggest thing that Kiro mentioned social consensus. We have
Some excitement on how stuff works and historically
We haven't seen a lot of innovation at the ERC level over the past few years given that
You know token standards where the weather they're ERC 20 or 721 a BEC, whatever the fuck you want to call it
No one's been really innovating
Because it's all open source and you can't really monetize it and maybe 404 is a version
We're like, hey, is there a way to make these smart contracts better because we know that we don't need open approval
You know access to to buying and selling stuff like there's ways to improve stuff. So how do we get developers to make?
Boring things that are generally public utilities
But in a fun way and drive liquidity and get consensus
Hey, this makes this better and I think some of it will always just be at the tech level
Saigon or someone had a pop punk did a you know
a quick threat on like just optimizing gas and like, you know, 721 a I believe was you know,
that was like a fun little innovation, so
my thought process is that 404s are kind of like I
Don't think they stay maybe like somehow this standard becomes a standard
But I think there needs to be a lot of optimization on the code front
And like how do we actually make this happen and it defeats the purpose of NFTs where you're burning?
And I didn't like I'm just kind of going off quits thread earlier today
The NFT doesn't stay and there's like just evolving metadata the unique IDs change and all that stuff
So I don't know what we're what we're doing. Like if that really
What ordinals leap by a fucking ordinal you can't delete that shit, dude
Okay, hold on everyone's like
I got a mate calendar guys. Follow my mate calendar. We're back in the bowl
Everyone's just saying this is we're mashing, you know, ERC 420 and ERC 69 together
Why does everybody have a problem with things mashing together? That's how we were all born. I don't understand
The issue here look we gotta we gotta go to the hands before we do we gotta reset the space and shout out to our sponsor
Thank you guys for powering our space for the month and it you know helps creators continue doing what they're doing
But also click that button in the bottom right hand corner
Give it a like comment or you know, are you drunk? What is I don't know what's going on
Give it a like comment retweets best way to support the space all that good stuff
Look, I don't think you guys get it. Your brains are just not big enough to understand for of course
I want to we got to go to the hands
Dude nothing's wrong. I just missed you man. I was out of town. I wasn't showing up to do my job for a couple days
How are you doing? I don't give a shit this 404 thing. I thought it was a meme, bro
I believe he went to blockbuster. He went to blockbuster with we're not doing this. No
Dude, do you know better than that? What's what?
There's still a meme card
I sent you a screenshot of the text the other day when you said that the
AVP is gonna be used for porn only and then I said what Eddie sent me. I actually went and did that we did that
All right, it's been a good space guys
I did not need to know that you and Eddie watched porn together. What the fuck is going on
On a VP on an AVP it that I'm not gonna lie
We have been on an all-time run of bad takes and not just tonight. It's been like three months. I
Don't think we've had a good take in three months
Dude I you never cease to impress me at how you can twist some words around
Okay, look we gotta just get this under control
Look Yogi was saying that the 404 is the most innovative piece of tack Lou compared to Solana. What do you think?
Dude I don't care just make number go up as long as my bags bro. I can't be mad my bags of pumpin dog
Dude supposedly 404s are gonna fork Solana. It's gonna be called the 404
You guys doing fractionalization now like oh you guys finally catching up a shocker Solana did something fucking years ago
You guys are just catching up now
No, you know what actually?
It's it's the opposite of fractionalization because you fucking have to buy enough
Wait, wait, wait, wait, wait, we have a smooth brain patches smooth brain patches
Patches is the least smooth brain person up here. He's probably got the most wrinkles in his brain
Can we not talk about wrinkles for a second?
Okay patches tell me why okay, so the 404 it's
What's up? What do you think? Yeah, so I just want to like respond as he go
He's right like okay. Okay, he's wrong
But if market effects agree that 404 is here forever and everyone starts using it
It becomes the the truth of the chain and then developers are forced to use it
So like in that way he's right if everyone decides that this is a medic leap is so fucking pumped about
404 a thing that's existed on the theorem for four years that didn't go through an engineering vetting
It doesn't matter if it's used in mass. We will be forced as engineers to develop with it
So again, I just want to say like that is totally a fair put I can be wrong
I'm just I'm always the technologist the room. I suck a trick. I'm down so bad since I joined crypto worst decision of my life
But I love the tech and so I only really care about the fact if you're actually looking for new paradigms
I think that the reason why it's frustrating is like ERC 404
It's capitalizing on a moment where people feel the wave starting to crest and it's something that's new that people are hyped about
But it's not the new meta the new meta is on chain data
Browsing web 3 without web 2 having experiences that are a hundred percent with privacy and data sovereignty
And that's the meta. We're going towards in this next
People I'm talking to Emma involved I'm talking to theory and people it's a patchwork of all chain on chain data
Will you browse the chain data to render in a browser on your client that then has you log in you log on to web?
3 you pay to interact with the internet all of your data is not stolen from web 2
You don't have to get on to Facebook and get it for free in air quotes
but rather you log on to web 3 and you pay fractions of
little h-bar or aetherium or Bitcoin and you
Get value and your privacy back and then you get to decide how much you give up that is going to be the new meta
I'm building it and if it fails it fails
But the frustrating part is that these things that are flashy
Take liquidity and mindshare away from things that are actually going to fundamentally help us as a network and as a as a technology
progress into the direction we need to which is
empowering people's better quality of life and
Financial and data sovereignty way to patches. Let me let me say it
So one what you're building sounds really cool
Please send me some more info so I can look into it
And two all right this you know what this reminds me of though like everybody on stage like, you know
Developers ever so technical and all this it reminds me of like when Lil Uzi and like Lil Pump and like all these quote-unquote
Mumbles down called rappers came to say little pump. Did you say little pump? Can you just let me fucking?
Cook your person it reminds me of when all these mumble rappers rappers came out
Lil Yachty whoever and all the old-school hip-hop artists were like, this is a real hip-hop. It's not technical
It's all just like flash and hype and this and that and you know what ended up happening those so-called soundcloud rappers
20x all of those other artists and became the biggest artists in the world many of them now a lot of them also
Developed crippling xanax addictions, but but the ones that didn't they all became very successful
Okay, well some of them also were addicted to lean but the ones who weren't addicted to xanax or lean
Okay, anyone that just didn't go down like a drug ravel ended up doing really well
And that's what this reminds me of it's like you and nothing but respect to you guys as well
Because obviously the developers are what makes
Like what makes the space go around?
But it does remind me of that where it's like this is not like tech like there's no technical innovation
Like this has been around forever. Whatever. It's as hype. It's just flash
It's all marketing and we see this shit in in so many other industries, too
Again, and I think music is such a good example of it, especially with hip-hop and everything that happened around 2016
You know, it also reminds me
It's like when you see those pieces of art and it's just like a dot on a giant canvas or a banana tape to a wall
And everyone's like, oh, well, yeah, I could have thrown this together in 10 minutes, but you didn't
that's the thing but you didn't and
I like I think that's what sometimes people forget like I think the innovation is in the way that you deliver products
It's not always in the product itself and like whether 404 is a scam or it's gonna succeed
Who fucking knows dude, do we have so many trends come and go every day in crypto?
but I think what's important about it is that it's somebody trying something that is at least delivered in a new way and
Like yeah, tons of people are gonna get wrecked on this thing. Just like they get wrecked on everything else
But some people make money some people lose money
That's the way crypto works and I don't know man, like I'm down for people that to do new shit whether it's you know
Whether it's like a paradigm shift or not who fucking knows
But yeah patches actually, please send me what you're building. I
Pended up top. It's like a 40-minute interview. I did yesterday that goes through the concept of
creating a user experience layer that is web 3n on-chain and allows you to browse on-chain data of all the different networks where
websites would never go down unless the chain goes down so like
It's yeah, I'm not gonna try to like shield the whole thing
But I pinned it up top and then I'm really looking forward to eat them or if anyone cares about building the new internet
Come talk to me. I'll be at eat them for something
He's giving out for right now
This guy is telling you if you want to build a new internet meet him beneath Denver
First off and then he's telling you he's building a new internet like what the fuck
What yeah, he'd be riding pretty hard, but he was riding that hard license to internet
Okay, can we can we calm down here for a second? No, everyone's all hyped
This is what we should be hyped about it's like this is a new internet
Feel like I'm in a fever dream in these spaces. Like I don't even feel like they're real. It's like a bad trip
It's been a minute. This is a
Yeah, it's definitely been a minute visual you haven't missed much
But you this is your first face back with us in like eight months and it's basically the same it thought worse than what it was
Also, I'll be at eat them for two so we could we could definitely link up
Yeah, I don't know I don't know there's a lot of hands ain't no one want to link with you Dorito
Blue chip is he sauce first of all leap
I haven't seen you since the beginning of the new year at the coffee shop. I thought about you today
I've seen you at the coffee shop, bro. No, I went to I went to Phil's today and I was like, I wonder
Strong as coffee first off. Yeah, it is strong
Arabian coffee or whatever they call it. I'm they always
They always ask me if I want it sweet and creamy it's like you already know the answer
Okay, look we got to go to the hands. We're going to the hands
I'm going to men cuz men has not spoken yet been good to see you
Also, all the content that you've been putting out with Zuki just so fire so congrats on everything and all your success
But what do you think about the fucking ERC 404? It's like what are your thoughts? Oh man, dude
I think they're way more tech-savvy than orinals for sure. Oh
Take arena guys. No. No, are you racing up trap?
No, we're talking about runes. We're talking about runes and we're talking about patterns
Yeah, there's no reason to rizz up Trevor anymore. You know the whitelist up to he's gone, dude
Trevor Trevor, are there runes or in are there Saturn's? Okay
I would say I would say before we get over to the Saturn's which is a honestly is it's a cool fundable token standard
I would say that like let's first start with the basis for how we actually define what is innovative
My favorite definition of innovation is from Peter Drucker. He says that innovation is the ability to endow
Existing resources with a new capacity to create value. And so what that means is that you take something that
Wasn't creating value before and you make it create value and so you have to ask yourself, you know
If it's a marketing innovation, that would mean that it actually shows people a way
They can take something that they didn't think was value and actually it is more valuable in a way
They can use it or if it's technical it allows again solving a problem creating new value
And so I would just challenge people either
Tell us what your definition of innovation is or otherwise it's coming out your c4 creates value. Well, I'm joking
First of all, I'm gonna give my take on 404s. Trevor, you know, I love fucking or no. See god. Okay
I think it's really cool because I think it really shows how much people actually do care about the tech
like a lot of us are here to make money or to grow a brand or
to I don't know find a future wife, whatever it may be but
404s being released who laughs sleep you last wife changing money. It's right. Hey
Okay, can we just get this back on fucking track this is ridiculous
This is ridiculous you guys are ruining any chance of me getting the control freak interview, okay, we're going back to men
I mean, okay, I'll be serious. I'll be serious. Um
As it is right now like one to one fungible. I think it's a it's a little bit of baloney
It's cool to see attention and momentum back on if the mother chain, you know, that's pretty cool
But it'll be interesting to see how people innovate on the next layers of 404
Right. I think it opened a can of worms just like or knows open the pecan of worms and we're seeing like fungibles
We're seeing like parent child inscriptions. I think it's like it's opening the Pandora's box. I
Don't don't have Pandora, but I thought it was a good. Yeah, that was a good fucking deal. Thank you. Delist. That was good
Thanks, bro. But yeah, it's cool to see like we're all having fun. Is it a scam? Maybe
What could people build on top of it? Maybe but we're having fun
Wait, how the hell did this dinosaur get up here?
Do you guys you're part of the same fucking cabal is what it is
I wish I was in Lucifer's cabal. They're fucking making a lot more money than me
Okay, we're going over to chatter chatter good to see you. What do you think about this 404 thing? Is it a scam?
Is this the new ordinals this Trevor just not get it like what's going on?
Thank you. I appreciate you coming to me. Um, yeah, one of my favorite quotes is without change
There is no innovation and creativity and center for improvement those who initiate change will have a better opportunity to manage the change
That's by 50 cent and that's one of my favorite quotes
And I'm gonna say from a creator of several blockchains the Gouda the cheddar and the mozzarella blockchain
I think the 404 is just as calm is gonna be just as comparable as mine was so yeah
I'm not fucking with it or touching it and I kind of actually got up here. So I'm just gonna get back down
Where's on me with death upon my soul. Okay. Look we have a room full of intellectuals scholars
VCs all the funds are in here guys every single fun and gentlemen and gentlemen
Pandora bracelets, whatever look yokey. We're going over to yeah
I mean like you were just DMing me and you said four of four is the greatest innovation of our time
You said it was more innovative than a light bulb. What did you mean by that?
Appreciate that question Lee
So on a more serious note patches, I'd love to see you in Denver. So as you leave we're hosting a Bitcoin event there
I think if we're really looking at liquidity and innovation like the the stars couldn't align better than Bitcoin D phi and layer 2's
That are gonna be coming this year and just because they're not on your timeline doesn't mean they're not happening
like there are some rounds that are about to close that will be announced that are gonna rip faces and
I think that people are sleeping on it. So like if you wanted both to meet
I can't share much but like others maybe that that can talk. I don't look I don't know what's public what's not public
There's something that's happening. That's gonna be beautiful there and I don't mean to be like mysterious
It's just that like just go look at what's happening. Go. I don't mean
In black American history month Lewis Latimer, he invented the modern day
Fucking light bulb so it is you know, Lewis Latimer go ahead and look him up
Yeah, no, so I think like when I look at 404, I think it's a fun experiment leave like jokes aside
Like I think it's cool. But dude, and this is my left curve brain. I'm not left curve. Sorry. I'm mid-curve, but
You know flooring protocol, which is doing a lot of this stuff
But like maybe better is to X the fdv of Pandora and I think Pandora has been running
So I don't know where it sits today
And like if I wanted to make a bet on fractional ization on the east side
I'd probably go look at flooring and see what they're doing
And then you know, I think that there's a lot of different narratives that are coming out
So like you can shit coin if you're gonna shit coin, but also look for tech
You've been called the top signal though
Remember, I'm not buying Pandora though. So it's fantastic
So no top signal today dude. The only top signal I had was Harambe and I am fine going down with Harambe. So
You know jokes aside again
But the like there was a stealth launch of something that I called Morpheus that you can't buy
I don't think it's like some Eric Voorhees project on AI like that shit is actually pretty fascinating
I literally got sent it randomly in a DM last night from a gig or brain. He's like go figure this out
That's we're all like left curve ape. Like I don't know if that smart contract is safe
I don't even know if Eric Voorhees is even in it, but you know, let's go find out
so that is like the you know ape and nifty Wattpad actually a really good tweet on that, but
Dude, it's my only concern is that people ape into derivatives
Like yeah for if you got into the main 404 fantastic and if you're a hawk go trade it
But there's enough narratives with an illiquidity gonna coming into the market that be patient
And leap let's let's connect in Denver if you're if you're coming
Yeah, let's do it. Let's do it. Also. Why don't I feel like nifty WAP runs web 3 and I just and nobody knows
Don't do that. Do not give him that satisfactory that fucking asshole. We go to the same way. Wait, wait, wait
All right, I don't know what personal
We got again a room full of BC scholars intellectuals the the brightest minds in web 3
I'm in Lucifer and I think that we're I mean we are prepared to have the most intellectual conversation that we can't hear
Look, we also have Jason up here Jason. What is it?
The stage automates after I need the whole stage they said when did you become a mute Nazi, that's new
Do we have to fucking he used to have a amendment? He used to be a USA citizen
They shout out to our sponsors
So the game and I last month I'll ever be sponsored look
No, no, you're good. Can we just calm down? I there's no amount of nicotine dude doesn't care
Oh and D-list don't their PFPs kind of look similar guys
This is getting ridiculous
Jason I mean you've been at the forefront of ordinals and everything that's going on there. Have you been paying attention to
404s, do you think they're good? Do you think they're bad? What you take?
Yeah, thanks for having me. Um, look, I think in general standards are incredibly hard to push
We've been relatively bullish on the standard quality. You're see six five five one
By Benny, he's one of the early guys
What's what's that company called? Oh
I literally had a call with them today, by the way. Oh, yes. Yes. Yes. Yes. Oh, it's been so long
My god, it's been an industry way way too long
But oh it's the one with the NBA
Pop shot. Yes. That's what that's the one
He's been around the space for a long time and just like he's been pushing the standard call at six five five one
And honestly, there's amount of like these used to like actually like betting on this guy
It's insane and somehow it's it's this 404 that comes out
I think there's an aspect where it's just like people dislike the name
We had a couple friends who actually got scammed because like they thought it's like an airdrop coming in and they actually like they actually
Like punched in there, you know, the way really how boomer and them that they thought that that was that though, like that's
Yeah, yeah, it's like that's when you know something is like really really hot, right?
So it's like like they didn't do research. They did really I mean, this is the thing, right?
It's like could it be a scam like it could be a scam. It was a scam to some extent
But again, like it's still so new right and just in general it's there's like standards of coming out all the time
Like this one is to my understanding. It's not that it yet, right? So it's like it's still early for sure
Alright we're going to golden because I'm choosing to I thought you were gonna go to Kevin
Kevin, okay. No, it's not like a fucking
Decentralized space. Okay, so we're not voting here. You know, I'm saying let's go to golden. Can we
Okay, we're going to golden I
New Nazi today. It's crazy. I can we not use that word. Okay, we're going to golden
Golden good to have you up here. Talk to me. What do you think about these 404s? Are they good?
Are they bad or people blowing it out of proportion? What's your take?
Don't ask you a bunch of questions. I want to have them answered immediately
I'm ready. You close your boots and your motorcycle
Okay, fuck yes, I love this
Okay, we're definitely back
I'm in physical pain and mental pain
Cuz you're laughing so hard
Now I was I ate like a really hot piece of tofu earlier and it burnt my that's exactly what we needed leap
That is like the 90s movies. Kevin wants to go. He's been the second city. He's had his time
Bring the second city fucking right on let's go. Okay. Do you guys know what angina is? I'm having it
It's the fucking medical term for chest pain. Yeah, I'm hot bro. It's that's what it's called. Look it up. Google it
I'm going over to yeah. I mean look
How's your has your take changed in the last like 40 minutes since you were here earlier tonight?
We know the 404s. All right. Yeah, let's go to golden
Congrats on your new angina
Yeah, I mean like I don't know I like I just
This whole thing is like this whole space is a fucking Ponzi
This whole space is like built off of the fucking backs of speculation. Yes, there are some tech but like
Unfortunately, most the people here are just here for the gambling
and so, you know as someone who
Last summer at you know for like two weeks in like June or July or something
hamster gambling tokens like hamster racing and cockroach races and
It even got as far as like just bum fights but like like
You didn't see anyone talking about like, you know, like oh like is is hamster racing a scam is
Hamster racing like this like it's just like bro like we're just fucking around and finding out and we don't need to be judged for it
Okay, so maybe 404 exists in the long term. I don't think
Like whatever is like a new tech. It's usually not like the first version of it that ends up like really being the one
Right. So like I'm sure maybe in six months a year
So someone's gonna build something on 404 and it's gonna be the thing or maybe Pandora is that and maybe
It's one of these rivers who fucking knows all I know is like when I'm seeing this much volume in something
Especially on eath like I'm just gonna trade it
And so instead of me sitting around and trying to pontificate if I understand
If I understand, you know your mom, I'm just no no your money on it. Okay, mommy
You're not you're not pontificating your mom. Yeah
Like for the most part like I've been here since
Like I've been here every day since 2021
But but like I don't know like I first got around like 2017 or so and I didn't understand
Literally any of it, right?
But if I would have just invested into things that like had a volume back then and other people understood
But I didn't I probably would have made some money and like that's kind of what I'm here to do
Like I don't need to understand how like I don't I still don't even know or really give a shit about like ordinals
So, I don't know I see volume. I'm gonna trade it. Maybe it'll be here long term. Maybe it won't
I'm still gonna trade it like I'll probably trade hamster racing or cockroach racing at some point in the next
cycle as well like so just don't judge me on that and I'm just gonna trade it like I
Before black rocks ran before black rock is what I'm saying
I'm not judging anyone. I am only trying to give technical
Analysis of what is happening if 404 of drained your wallet
I think it would be nice if there was a space that would leave does you fall asleep baby?
No, come on, baby people who would just tell you before you got your wallet, right? So
Hey, wait, wait, why are we talking about wallet draining? What does that have to do with training?
It's just a coin or none of my point is without technical without technical people trying to give you information on what you're doing
You don't have to take it go ape and ape look number go up throw your money at it
Fuck around find out but well, but like it's good to have commentary from technical people who just let you know if you care
And if you don't care, that's fine. Like no patches. I don't
Patches patches. I really admire you for saying what you said earlier
Zico you've been holding a crypto punk
From what 500k to down. What's the floor now? I've been holding this thing for it since 1997
You don't know anything. It's eco is k money with a balling hairline
This is a widow's peak and it's a sign of never going ball
And like you're missing a little bit on the stash to burble
All right, we all know a lot about peaks
Listen, okay. I just I wanted to say I wanted to say last June July when Kay money was trading hamsters
And I was on that hamster wheel. I was also looking into ERC 6 5 5 1
I don't know if anything ever came to that but Kay money
I think it's dishonest to say that most people in the space okay on your phone
No, go ahead go ahead D less can you okay, let's play a game called the hot unmute for more than
Let's play a game called kit. I
Went to school for piano. What the fuck am I doing? All right, we need a we need go to the hands Zico
We'll go back to you. So you said you had a widow's peak. What's up?
Yeah, this is goddamn apt I
Zico can I just leave something wait, so you went to school to be a pianist and you also have an angina currently
Can we can we just come let's go to Yogi no
Let's go to golden. We're going to the widow's peak. Okay
We're definitely going to golden. What was um, what was up? Listen, god damn it this fucking this has gone too far. All right
Left care of it and and just do stupid shit and get rich
And if you're not willing to do that, then like I don't know what you're doing here
Hey money knows most people in the space and that's what he told me one time. And so I believed him
You feel like a Disney movie you feel like a Disney movie right now is what you feel
It was just like the weirdest interaction
You feel like a Disney movie, well then why am I not rich like hey money what is going on?
The can you can you so if I try to speak does it just instantly mute is that what happens? Yeah guys
Losing any semblance of sanity I had left. No, I had a question for
Thanks guys leap, I think you should rebrand this space to like cryptos anonymous
It seems like a self-help group at this point. I think hey money should probably be the mod
He's doing a great job. Okay money is like the 1988 Jim Kramer
He's gonna make a shit ton of money for the next 10 years and then he's gonna become a media personality
And I can see and I'm here for it
I think to Zico's point and not Zico's point. I don't know what Zico is fucking saying to be eyes
I'm gonna go back to Kay money's point
He was talking about volume and the beauty of tech is that there are people that care about tech and they'll build it
They're just not on Twitter
And so we need to do stuff
So you got to play with the volume and tell someone builds good enough tech where then the volume can go to
Because otherwise what the fuck are we doing if we're just waiting around for the text to show up because it's a marketing thing
Also, I thought I was building and not building investing in the future of the internet, you know six years ago
Substratum rugged the shit out of us. So it sometimes it's is it really tech or is it a couple of
Scrotum tech, what do you know substratum? It was an Australian internet coin then you had dude like there down on there
Anyway, so I'm in it summertime over there. Okay
Maybe the tech doesn't matter
It does matter early. Otherwise, we wouldn't be here. So you take that you take that foul word out here
how the if we didn't bet on putting an internet in our hands if you were that fucking guy if you were the founder of
Blackberry were like who the fuck would use a touchscreen? We need to have keyboards like
Yo, that was a Canadian company. That was a Canadian company. They killed it. Okay?
Yeah, you guys really fucked the pooch on that one, dude
I don't know if the list if you're Canadian or not, but I'm gonna assume you are and
It was actually the American that's what I'm doing on the CEO that fucking bottom that one out
So let's just never forget where the national
Here I take all my facts from documentaries that are made by Hollywood Studios and the documentary I was that was not a documentary
Is he good just because you live in San Francisco doesn't mean you're a tech guy, right?
Everyone's like just genuine question. I don't like maybe that maybe the tech doesn't matter
If I and Mike will you mute the space problem did he just say the tech doesn't matter did he say that I'm just saying all you guys
are like develop developers oh we
If you don't care about the tech you can still make money if you don't have any tech you literally are playing with a fucking rock
Yeah, but the rock makes this shit ton of money
Took your pianist skills and made some AI piano music
Launched a token with the 404 and inscribed on ordinals dude like think about that bro. He wasn't even good at piano
Okay, hold on can we just calm down for a second look we got to go to Jason Jason
You're an intellectual and a scholar. I apologize for this
Tech and narrative doesn't matter but a target audience is very different
The tech is really targeted for investors and developers and product managers
The narrative is mostly for retailers. So in this case, I think the narrative is actually more important than the narrative
I'm sorry. The narrative is more important than the time and we see that in in ordinals a hundred percent
Jason what about from here to 20 under the chair? What about for mods?
Do that was a 10 10 out of 10 shield by the way Jason yeah, um
Look, I think at the end of the day, right like
If you look at a token that only went up like what 7x 10x, um, this is this is like super super normal in our industry
Um, we get that like every week
So why is it just this token that's going off, you know 10x or whatever accent it's it's getting all the hype, right?
So it's like it's there's definitely something that uh, like from from a retail perspective
They feel like oh, it's it's something I get it's something I understand
Right and it's like they're just shilling it because there's something that's understood
I mean nothing against like obviously nothing against like literature on bitcoin
But that's like the same thing that's happening on on ordinals right now
Like a lot of people are just pumping out these like their truth, uh narratives
Well, obviously you do need uh bitcoin there, too
But it's just it's it's the easiest sell it's the easiest
Um narrative to sell to anyone because for anyone who doesn't understand bitcoin for anyone who doesn't understand web3
Uh, like the overall difference between bitcoin and ethereum just telling them that hey a faster bitcoin makes sense
Uh a cheaper bitcoin makes sense because everyone knows that you know
Like a 12 euro would know that so it's like but these are things that it's
Like from a marketing perspective, it's it's very fundamentally different like from a from a like narrative versus, uh, uh technology
Okay, well min your hand popped up during that what do you think
Um to be honest like you jason really just summarized the five-hour conversation
But leeb I was gonna ask you a question like
Who do you think wins in a fight k money and in um zico or karo and delos
Wait, wait, wait, wait guys
We have a we have a uh crypto fight night. That is in dubai
It's in dubai, so if you guys want to link
K money you want to fight this and we're not fighting
We're not look at your guys's pps. They're literally like it's crazy. Is it not am I the only one?
Would definitely win in a fight, but we're not fighting these two
I wouldn't be able to hit kevin. I love him too much. So
I'm at a distinct disadvantage. We're smoking a joint in the ring. It's like not even a thing
Just as long as fidgetl isn't there
What do you think about karo versus me? I don't think I mean, I know like him all enough
I know if he can't get high around me
He'll be so annoying and he'll be like wanting to talk and i'll just be like i'll headbutt him man
I I know that like he's too friendly. But the only is what my problem is. The only fight I want to see is um
Thry guy versus not screaming. Um, look I want to I gotta throw it to the hands here. Um
Do I get a companion does does my dog get to attack you kura at the same time?
Like because he took down the red guy no one no one no one included you in this fight
What are we going to the palm
Okay guys, um, welcome to space everybody
Appreciate y'all for popping out to his erc 404 scam. I mean guys i'm at the on my end wits here
Uh, we do have naveen up here naveen has a new a new penguin that he's rocking
He is part of the layer zero cabal now naveen. Uh, naveen. What do you think about this?
Erc 404 is it a scam? Is it not scam? Have you had a chance to look into it? What's your take?
You know, we're always trying to introduce new slot machines and new games in the sky casino
Oh boy, and it's a it's a new game and everyone's excited about the new game. I think it's great
I mean, you know, whatever it's it's just a different way of thinking about
Uh tokens and and ownership of tokens and do you own all of it? Do you not own all of it?
It's very it's it's fun. It's like a funny little, you know
You know i've kind of come to i've kind of come to appreciate that term sky casino more and more naveen because we have this thing
called the cloud and that's like a sky computer. And so a sky casino is
Uh, it's only natural I suppose
I'd say we let naveen cook naveen is one of the best cookers of all time. He's like emerald vene
Like the man cooks you mean he just goes he's a good emerald laveen
All right, I just i'm in lagasi
I've checked out mentally I
Because you have a genre ball, I don't know why i'm being compared to admiral vene, but you know, that's cool
I appreciate that. I appreciate the love
Um, um, let's go to golden
Golden is not even on stage right now the vene. He is actually he is he just joined. I mean, I mean leave leave
What do you think of erc 404s and what do you think about it?
I mean my take is actually very aligned with yours
Some people are like heavily against it. Some people think it's really fun in the next big thing
I don't know. I don't know why that that's that's like being that's like being a set against roulette
Like oh, I don't like roulette. It's like, okay. Well, you don't have to like roulette. That's fine
Or I don't like blackjack. All right, that's cool. Like, you know potato patata
I i'm gonna play my sky casino game and you're gonna play yours
You know is is the most innovative thing in the world? No
And someone made it before
Well, I well, I mean look if you want to talk about the roulette table being broken and the problems with proof of stake systems
And all that that's a whole separate leap space
But i'm just saying that in terms in terms of you know this particular conversation I just look at i'm like
Hey, have fun. This is another way for people to gamble. Yeah, have fun
Yeah, totally have a good time. We're all here to be entertained
Hopefully make a couple bucks in the way on the way and you know, why why stress about it, you know
That's honestly my take like I think it's interesting. I always like as somebody that
Look marketing is hard and I I know how difficult it is to get products out there and like whether
People say it's like high to this or that whatever. It's still you know, when you're doing nine figures in volume
In just like a couple days like clearly something worked regardless if it's hype or not
And I don't know. It's just like hard to do that
So, I don't know and it again, it's not the first time control freakin like they they've done a few bangers
Like even when they came up with the whole like orange badge thing that they did with ben dot eve
Obviously it turned into a massive disaster and everyone who was using it got their account suspended
Uh, but like initially it was a cool concept
So like clearly this group of people whoever they are
They they have a talent for coming up with interesting things that people are going to care about
Regardless if they go to so you're saying that was the same group of the ben dot eve
No, I think yes. No, no, no. Well control. I think control freak was one of the guys doing the the orange. Oh, yes
Oh, he's an eth optimizer
He's an eth optimizer is what he is. He's good. He's good. He's a malady
Malady, yeah, you know, it's it's really kind of funny when you think about it like
The specific types of casino games. We really appreciate it. There's like
You know 30 percent or maybe 25 percent about it of it is about the tech
Way to tokenize something on ethereum and oh, it's a novel contract and you get like the the saigar fucking thread and you know
All that, you know that that's like 30 percent of it
And then 70 percent of it is
70 percent of it is it is it just a fun casino game, you know, like is it like entertaining?
And and that's basically like how narratives form in our space. It's like 30 tech and 70
Degeneracy the analogy to casino games is is crazy in so on point
But do we not think that there's well, it's just it's just it's just facts. I mean, it's just facts
We're just all here fucking gambling and it's fun. It's fun to gamble with new games
Give me a new casino game hit me with the new one. I'm waiting for the new one, you know
Nivin you're so wrong, dude. These
Gambling games take so much intellect that I am disappointed that you're just calling it a game of chance
When it is a game of skill and the biggest thing you're forgetting with this is if the 404 is not optimized
So it's ultra sound money, you know, we're making ethereum valuable by burning it using inefficient gas contracts
And so you're missing the utility of 404 to be in
The tvl the tvl is not even on all the l2s. We're not even adding up all the l2s yogi
Like I appreciate you brother and you know
You're right on on a dimension like the other side mint, you know burning like hundreds of millions of dollars worth of eth
It just contributes to like
The ponzi namix of eth I mean you're right like the less eth the more more valuable the eth is
What do you think what do you think of all the l2s tvl when I go to defy lama
Should I incorporate all the l2s?
That's that's what i'm asking
No, and what and why not and why not tell me?
Because it's not that one, you know, this is this
This is like asking a question about the bible, you know
It's like well, you know in this part of the bible, you know
Am I going to take the bible to be like what the words are on the page?
I'm going to take the bible for like the meaning the meaning of it, you know the overall meaning of it
So, I mean, you know, there there are different schools of thought, you know
You have people who are eth l1 maxis who are like, oh, give me that proto dink sharding guys
Give me that like heater, you know, I want to scale the l1. I don't all these l2s need to die
And then you have people who honestly have giant bags of l2 tokens who are just like yeah, man
Arbitrum is going to win the world, man
You know, we're going to be fucking buying fucking nachos using arbitrums someday, you know
And and you know, like i'm not here to judge anybody
I'm just here to have fun in this guy casino with you guys
You know if you guys want to fucking tokenize nfts in a particular way and you know, call it a new fucking miracle, baby
You know that that's cool with me, you know, i'm cool
I'm just hanging out at the roulette table and if you want to come down and hang out with me
You know grab a drink, you know, I love your takes. I just love your takes dog
All right, who's drunk on state everybody say the name at the same time ready?
Three two one. It's d list. Um, look we're gonna
We gotta go to the hands. Um
All right. Thanks patches. What's up patches?
All right. I'm just saying if you want a faster casino, check out a hash graph. I built on hundera
It's dope. I think all chains will interconnect i'm heading out. I love you. He leap
This has been fun. If anyone wants to create the new internet hit me up. I'll be at east denver. Cheers
Appreciate you patches. I'll see you in denver
Listen to that casino chill. It's like hey guys, I want to let you know that I work at the flamingo
I want you to all come down to the flamingo and play roulette with me at the flamingo
The flamingo is better than the balazio and it's better than the than the mgm grand
You know to come down to the flamingo guys
You know what naveed you have some nerf talking about bible last time to let you borrow mine
You got peanut butter on it while you were reading it in the dead and I didn't appreciate that. All right, so thank you very much
There's a thing about bringing on a manager like helped me like do shit with content and stuff like that. I had a call with them
Uh, it's like yesterday and they're like leap, you know, really what direction alignments you want to take with your content?
really want to be like a thought leader and
An interview like the like the super intellectual people and like no more jokes in this space. I I lasted maybe 12 hours
And they called the list a drunk one. They called the drunk one. They called the list a drunk one and you guys
Failed at the end. Okay, you guys are all drunk
Okay, um, the only thing i'm drunk on is love and that being said look guys. Um,
I don't know where else to go with this. So we're gonna add the space. I appreciate you short and sweet tonight
Um unlike drake's dick, but look here's the thing guys
Please do things that make you happy and if you're enjoying anything about the conversation
If you did click that button or the pin tweet at the top and give it a like comment retweet
Um, why are you talking about drake's dick? Can we just calm down here for a goddamn second? Everyone just get their shit together
Uh, look it's a pin tweet at the top. It's got 87 likes if we could get that to 100 it'd mean a lot to me
That's 13 more there's 450 of you guys in here. Please follow the speakers. Please follow the co-host and again
I'll see you tomorrow same time same place and um, please just be careful. Whatever you purchase 404 is this that whatever it might be
Just have fun. I'll see you soon. Okay. Oh and also
No amount of money will help if you are sick or if your family's sick
So spend time with them call your parents and tell them you love them
And I actually saw him in tweet something out about that recently too. I like that post a lot
Um, yeah, take care of your parents guys. I'll see you soon