Modern Market: SEC vs Binance

Recorded: June 6, 2023 Duration: 0:47:19

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Good morning everyone, welcome to the modern market. We run this show for 45 minutes on Monday to Friday at 7 a.m. Eastern time 12 p.m. GMT every day of the week. We discuss all things to do with the modern market. That is the crypto market, the NFT market and how to make money by leveraging
the internet and the latest technologies and we got some latest technology announcements yesterday. My name is B.J.Eck, I'm a UK teacher and lawyer, I trade NFTs, I collect NFTs and I write about NFTs, I am the author of the snapshot which is pinned up top and goes out daily on Twitter and one time per week in newsletter form. I am drawing
on my legendary co-host, legendary, the OG NFT collector, the Air Drop Extra Ordiner, and a serial traveler to all the NFT conferences around the world. Legendary has been navigating crypto since 2016, so we lean on and require his wisdom and thoughts on a daily basis.
me as a reminder friends nothing legendary or I say here is financial advice this modern market is exceptionally risky no one really knows anything for sure so please proceed with caution and exercise your own judgment with that out of the way legendary how are you doing?
I just landed in Lisbon literally like 11 12 minutes ago. I am still at the airport. I'm significantly late so I have to do this somewhere in the airport area where I'm navigating and trying to find a quiet space. Fair enough, it sounds, it's not
too bad, all things considered. So we will, yeah, it's not the worst. A few horns in the background, but it's not the worst, all things considered. We have all kinds of super interesting news today, particularly the Apple news.
I wonder whether that's something you thought was going to compel you, legendary, to open up your wallet and spend $3,500. Get an Apple Vision draw, which is approximately the same
prize right now as getting another youth. I definitely want to have one especially after I saw the presentation yesterday. I think we talked about mixed reality or how afterfall it's fish, a reality, a couple of times already on the show, but like one of the features that intrigued me most was to see how it seemed like
that's the integrates with your MacBook. So basically if you open your MacBook and you just look at it while you wear your Vision Pro, it extends the screen of your MacBook into this mixed/versual reality. And you can basically use your MacBook on, you know,
sizable screen filling up all of your living room or wherever you are. Yeah, that's that's a pretty impressive. We'll get more into that in a moment. Whilst legendary updates are us on his location, I'll just give people a flavor of where I am. I'm actually in the complete opposite environment.
I'm in a very small but luxurious room at a law firm in London as I'm about to give a talk on digital real estate in the Metaverse. So I'm yeah I've got all my computers here, I've got all my set up here, the opposite of working from home or in
bed like I have been on other occasions but yeah it's pretty nice it's pretty good how long is your pod gonna be and when will it start like right after the space or yeah so no I've got is it two o'clock but I arrived early so that I
would have a bit of time to do this, prepare for this, prepare for that and I'm actually going to work here for the rest of the day as well just because it's actually kind of nice. It's nice to be out of the home office and in another nice space with free
Coffee tea and snacks and soft drinks for the whole morning. Sounds lovely. I think I never asked you both, do you miss working as a lawyer? Not really, but it's, yeah, I definitely don't miss working as a lawyer.
but I do think that the spaces that these more corporate places have to work are quite nice and it's quite nice to come back almost as a tourist rather than have to come here every single day. That's definitely my take on that. But let's not be tourist
to the headlines and the price action today. Let's get into some of the information. If you'd like to contribute on something we speak about today, do request now. We will be bringing people up on stage throughout this segment. So if you want to follow along, the first slide of the snapshot pinned up top has the details I'm about to share.
please do like and retweet it so we can increase our reach. So let's get into it starting with the price action. Bitcoin is down, eth is down, ap is down because of some of the headlines we're about to get into. SEC is suing bylands. So Bitcoin was down almost 4% at
just under 26k, ETH was down 3% at just over 1800 and APE has broken down beneath $3 for the first time in a while. It's at 296 down 8%. NFT volume was up at 24 million, Blair was at 15 million, OpenC at 5 and the top collections were all
Ferdy flat actually board a still at 46.8 crypto punks at 52 mutants bang on 10 and a zookey at 17.8 This is after a big run up in a zookey over the weekend, but it's kind of settled down now just under 18. E and in terms of the headlines number one Apple vision pro I wasn't sure which way to put these
to headlines around. But I was so excited about the Vision Pro. I went with that for number one. Apple Vision Pro was announced. We're going to dive into that in a moment. The headline price is $3,500. There's a very funny video in the comments attached to the snapshot where it shows people's live reactions to the price and everyone
was really, really upset. You could hear this huge exhalation of people breathing out and upset about the price, but I think that was the consequence of people being pretty excited. Number two, SEC, Su's Binance, and that's why Bitcoin was down 4%, 3%, we're going to get into that in a moment. And finally, Jack
Butcher reveals the new Opepemp pack and he pays homage to the Apple Vision Pro. It's a pretty cool visual which I think you can see on slide. I don't know, you can't see it on the slides but it's definitely check it out because it looks like the Vision Pro basically. Legendary, all of these headlines, what, where do you want to
go first. Shall we talk a bit more about the Apple Vision Pro and before we dive into the Binance news? Yeah, let's do it. Are you excited about it? Because I said a couple of times that I'm going to get one. What were your first thoughts on it? Yeah, my first
thoughts was that it was a very impressive device. I had no idea that it was going to be able to do the things. I mean, it sounds like, and I saw Alex from the CEO of Nonsense say this, it seems to be potentially possible, maybe not immediately, but it's going after screams
and all devices. Like if you are able to put these goggles on, bring up your various tabs, arrange them around your room, and then maybe you have a keyboard, the majority of things are get selected by your eyes.
which is unbelievable, did not know that was possible. So that gets rid of the mouse. Then a bunch of the other gestures, the way that you select things is via your hands, so hand gestures. So again, no need for the mouse to look around and select things. And then as you
mentioned there's this capability for you to get the laptop or use your laptop and type the things that you need to type but project your screen much bigger and arrange your tabs in the way that you want to. And that's actually my dream. My dream has always been the minority report scenario
where you can have various screens up in the air around you and then you can play with each of them depending on what you need to do. Multitalisk across them, move them around, reorder things, write things. So it seems like we're taking one more step
step in that direction of the minority report scenario. Yeah, adding to exactly that minority report scenario, there was a tweet that trended yesterday from a former engineer who worked. I don't know how many years on the Appalachian Cross and made significant contributions to it and he said, now the
that there's like over 5,000 patents on this. There's a couple of things he can talk about because they've been disclosed as part of the process and the most impressive thing was an unfolding from the tweet. There were a lot of tricks involved to make specific predictions possible, blah, blah, blah.
One of the coolest results involved predicting the user was going to pick on something before they actually did. There was a ton of work and something I'm proud of. Your pupil reacts before you click on card because you expect something to happen. After you click, you can create by your feedback with a user's brain by monitoring the eye behavior and redesigning the user.
I will try to create more of this anticipatory, puberty response. It's a crude brain computer interface via the ice, but very cool. So I found this to be super impressive because you can anticipate the reactions, you can also, and this is another part of the tweet which I also
in the top, predict some of the emotions that the user has when he's watching some kind of content. But Apple also made it specifically very clear that this data is separated from the websites that you're surfing. So basically the company, I don't know if it's Amazon,
can't get access to the data and see how you feel when you see a certain product. So that's in a separate memory allocation for a lack of a better word. Yeah, I can see what you mean. The other thing that I thought was really cool, and again, it wasn't really expected
to me was that it's obviously it's kind of mixed reality rather than AR or VR right like you could potentially just put these on your head and just see through them and have nothing going on. So it could be as in as an unintrusive as you like
I didn't see that necessarily coming because my understanding is the meta one is full on VR. You put those over your head and you've got the theoculus but I think is that right? There's just the point that I try to explain and it's difficult to explain if you've never seen it. There is to other headsets one by five
one by Oculus and also to Mixed Reality. And that was like the example that I tried to, you know, say like in your living room, you actually see your living room, but you can replace the ceiling or one specific wall of your living room with a forest or another area or a screen area. So you have that Mixed Reality already. But
from the specs alone and the resolution the Apple Vision Pro will be probably significantly bettered but also admittedly it's you know three times the price than the comparable Vive headset that you do it as well. Yeah one of the pretty amazing sub-deaf
details because I was watching it live, I didn't watch all of it, but one of the amazing sub details was that they said for people who need glasses or have to wear anything to correct their eyesight, they've worked with a lens company and you can
there's space for the lens company to put custom lenses into the Vision Pro so that your correction so it can correct your eyesight. I thought that was absolutely ludicrous. Well, ludicrous in a good way that they had thought
about this stuff to such a minute level. Yeah, no absolutely they they've partnered up with Carlos Ice who's actually the most famous company that comes to manufacturing glasses that's coming from some of the new store glasses in the past before I got surgery but also they could have point that we talked about yesterday you know
with all the metaverse points pumping on the news of the before the news of the Approvision Pro. I think if you watch the presentation, it's way more geared towards a productivity tool that you can use to work than it really is for gamers.
that it's really meant for gamers. I mean, you have to partnership from launch on the Disney Plus, so you can use it as well as opportunity to watch movies, but it's not really meant for the gaming device, because Apple also doesn't have the strongest support of, you know, gaming ecosystem. And I quite like that because mixed reality is
Perfect for creativity and working. Yeah, you're right. They didn't really seem to make a big deal about games. They did, as you mentioned, make a big deal about kind of immersive environments and watching other forms of entertainment and media. So one of the interesting things, I don't know how this would
of the play out but so you have a really big TV screen at home. What the vision pro would allow you to do is forget the TV. You can just put up a virtual screen in front of you wherever you like. Increase the size, decrease the size, it would be 4K instantly.
which lots of people obviously don't have 4K TV so it's in essence like having a 4K TV included in the price potentially depending on how it actually looks in practice and they announced their partnership with Disney on that front so Disney, one of Bob Iger,
the CEO of Disney walked out and explained how Disney are making all of their content available through the Vision Pro. So I thought that was pretty exciting and interesting, but yeah, I agree. Very little to do with gaming, much more to do the entertainment. What was the
most what did you like most from that entertainment site? It was a very neat little picture when they showed how you can watch a movie on it and I obviously used pencil before in Mixed Trailer to watch movies but what the Appalition Pro does is it allows you to either dim the light into your entire living room or
I'd like a special movie like "Gloke With" but basically also changes the condition of the real light, another of the real light that simulates the change of the condition of the real lighting situation in your home to make it like a darker living room fitting to what the movie and allow you to immerse yourself more into it and also just simple
access like when you open a browser tap and mix reality it casts a shadow on the ground or above the table or wherever your place is screened. Like just that attention to these are the government. Yeah it's pretty pretty amazing. We're probably going to come back to this a little bit later in the show but let's just deal with this second big headline which
is the fact that Binance is being sued by the SEC for alleged securities violations. Yeah, it seems to be the case that they're really going after Binance. What was your take on this legendary?
I mean, at first it was like, it's impressive to see that the market only reacted with a quote unquote, not significant drop of 3 to 5%, it's not a massive volatility event where we see a drop of 10 or 15 or 20% on the announcement of it. Then I started to read a bit more
about it and also I printed up top a tweet or thread by Sarah with some of the quotes of the language that was used amongst compliance officers and the diners and this was quite frankly shocking to see that there seems to be so many non-professional
people working in compliance roles at different exchanges. I think my quote unquote favorite was one finances CCOs achieve compliance officer admitting to another finance compliance officer and I'm quoting again we are operating as a fucking under
license secured as exchange in the USA, bro. Like, why would you put something like that in text? Why would you ever do that, especially if you're the chief compliance officer of finance? So that always like, I don't know, never never see this to shock me. Yeah, I do agree with you. I think it's exceptionally strange for people to say that.
But I similarly think that it's pretty strange for the US security, for the SEC themselves to when they announce this tweet go with that headline. Like it was them and I think it might, I think it's one of the comments in the snapshot above. So if you want to see it, you can find it there.
their tweets literally was they said today we charged by that toldings blah blah blah blah and the image is like is that quote in big big letters with big inverted commas around it so they're kind of meaming it into existence having some fun with it fair enough
but I definitely wouldn't have thought that he also would have been operating in that way. Just for some prior context before we analyze it a touch more so that we're aware of what's actually going on. The SEC's charged, well the SEC charges include the unregistered
billions of US dollars while placing investors assets at significant risk. So those are the charges and yeah this is the second thing right because just in April this article goes on to say lawyers hit Binance boss CZ and his exchange with a 1 billion dollar civil lawsuits for allegedly touting unregistered
securities and paying celebrities to help to do so. So my understanding is this is the second lawsuit against them now. Yeah, I have a similar understanding of it too and it seems like it could be, my first thought in me was if this is going to be a long-going
in a year's long case like SSC versus Ripple, it could be a bit of a downer for the affected cryptocurrencies that have been mentioned over the next couple of years, if there's always going to be news, you know, resurfacing and emerging around that
as you see versus finance, but dealing. Yeah, fair enough. In the end, it seems like, as you say, markets, I don't know to what extent, say it's shrugged it off, but down 8%, each, very strong, I was surprised to see it only down 3% down
1800 so yeah we'll see we'll see how this continues. Let's move into the next section into the overvalued undervalued segment where we evaluate some notable sales from the last 24 hours. Today we've just got a group of crypto punk sales which I have picked out for us. We're going to ask legendary his take
and then we will see whether you in the audience agree or disagree. Please do get involved. Let's see the thumbs up if you agree with legendaries take and the thumbs down if you think it's you disagree with legendaries take. So let's take a look on the snapshot pinned up top. You can see
see on the second slide you've got four crypto punk sales. First you have a gold chain going for 50/70, you've got a purple hat going for 75e, you've got a VR glasses going for 73 and you've got a TR a punk going for 85e. I think in general the general take on this and the time numbers that it was pretty
positive that people that certain traits were being collected in a truly non-fungible way in the sense that they were not just being blur-farmed, people were actually collecting things on the basis that they liked them and going far above the floor given that the Kubtoff Park floor is only
about 51 teeth at the moment. So that was good to see. But legendary, do you want to pick one of these out and say whether you think it is overvalued or undervalued? Absolutely and this time I don't have any data available so it's going to be just me coming up with
I'm going to pick the VR glasses one. The VR glasses one was sold for 73. This is 73 ETH one. I'm going to make the case that it's undervalued because of the hyper on the Appolvision Pro and the R-class is traced
I'm going to get more popular on the basis of that. This is where it states undervalued. And your book's good. Interesting. In the audience, let's see the thumbs up if you agree that the VR glasses is undervalued or thumbs down if you disagree and you think it is overvalued. Do you agree with legendary
or not. While people are doing that, I wanted to pose to you, legendary, that I think I wonder whether the cigarette trait in general is not going to be as popular moving forward because people are smoking much less. Are you persuaded by that? It looks like Toaster agrees
with you, Pue, uh, disagrees with you, what, what do you think about this cigarette trait hypothesis? Yeah, it's an interesting hypothesis, but also it seems like, um, the smoking numbers aren't going down globally, and it also seems like that there's, um, certain countries in
Western Europe where the number of smokers actually go up because a number of female smokers increase massively. I don't think that this is going to affect the floor price too much, but what I did notice is that the cigarette per se became pretty, pretty rare.
in more recent collections. For example, if you look at youths, there's only a single one of one that is smoking something that seems to be a pixelated cigarette. And I don't know, could be even more historic value to the future when people completely stop smoking at least additional cigarettes.
Do you think in the Apple Vision Pro there will be an option to somehow get your senses worked up so it would be like virtual smoking inside the Vision Pro? I don't think that this is something that Apple would do, this would be rather a Tesla feature to have, right?
Yeah, that's true actually inside of the car while you're automatically driving and smoking at the same time. Interesting stuff. So those were the notable sales from the last 24 hours. Hope it was helpful to be brought up to speed, particularly in that crypto punk market. Let's move on into the discussion.
the show. I'm just going to start us off by giving us ten more quick hits of news from the snapshot pinned up top so we can discuss any of these bits of news in a bit more detail. Number one, the SEC claims that Salana, Adela, Mattric, Phil, Atem and Sand were all securities. I think they're
actually a few more in the filing, really going to town on claiming various coins were securities. Never like to see that. Number two, NFT inspects, announces crypto trading. Definitely want to ask legendary about that. The world's a really, really big announcement that people might not necessarily have heard because of all the other news yesterday.
Number three, Azuki Spirit Dow announced his rarity revealed this Wednesday. This is the comic that the Azuki Spirit Dow, the very wealthy, well-connected, huge collectors in that which they have created. Number four, Do-Kwon, Bale has been approved. His property was verified to be worth millions of dollars, therefore they have
now approved its bail. Number 5, Fortnite.Eath received a 30-week bid. The E&S names still surviving, healthily, good to see. Number 6, on the moving on to the creator corner section, Apple revealed name drop. This is just one of the functions that was announced in yesterday's news.
which allows people to share contact seamlessly and I saw Frank from Degords Tweet that this is going to kill a bunch of companies instantly who basically used to have this service as a business but Apple are just going to crush those people because of this new functionality. Number seven, I don't know how to pronounce this name,
Beyond Carmen produces a camera which can take photos without being able to see I think that is pretty wild uses AI tech to be able to reconstruct The images definitely check that out the link is in the comments to the snapshot pinned up top number eight seed phrase receives a 400-Earth offer for a lot
this is not on chain but this is something that he said in the comments when he was trying to sell his very very large sandbox plot which is the image in the snapshot on the full slide if you wanted to check it out. I want to ask Lendonry in a moment if that's like that reasonable but sounds
huge but it's also a very large plot. And number nine finally this is something for all the creators out there. Number nine NFT now seeking NFT analyst highly compensated for a three weeks print. I think it was the CEO of NFT now tweeted out that they're looking for someone to work with them on a three week basis.
to be really good, you've got to be able to show that they are competent in space, got to be native and yeah, got to be hardworking. Let me do it. What do you like out of these nine pieces of news? Quite a lot of interesting news. Touching maybe real quick on the SSE first, someone made a very
I don't know. Convincing point about, you know, if the SEC goes after those currencies and claims their securities, and obviously they're done for the news of that as well, that people might flee out of them and move into Bitcoin and East, and this actually being, you know,
slightly to moderately bullish playbook for each and Bitcoin if they are not affected by that. As you see, I don't know what is the technical, technical regret term, is it the filing or? Yeah, the
Thank you. So yeah, I know I found this thesis could be interesting if we got to see a lot of negative news around them and we don't have the same sentiment around it in Bitcoin. Some people might move the funds into those cryptocurrencies instead. Yeah, I think that's a very
very fair point. The counter argument to that is just a different view which I saw which was that someone saying, "Look, they're going after all of these ones at the moment, is there a chance that, you know, don't necessarily think that we are safe in any of the other ones?"
because they just seem to be burning everything to the ground in crypto at the moment. The general sentiment is that they're really fumbling the US is generally fumbling the ball with regards to crypto. They're pushing, I've seen a variety of big accounts tweeting this recently, they're really pushing
innovation and crypto offshore, whether that means literally offshore or just to other countries or jurisdictions. So yeah, I'm kind of persuaded by the idea that it might go into Bitcoin or ETH in the short term, but yeah, I don't know that there's any guarantee that they're not
to push crypto innovation out entirely.
to make a good case in their point. But I think what the US really really needs is just the regulatory framework and not because it seems like, you know, the SEC is at war against cryptocurrencies and the web
free space, but it's not reflective of the entirety of the US government and the political stance and having a clear distribution of roles and rules in the sense of a clear regulation, the public lot, because a lot of people raise the case, even inside US politics,
that the SAC might be overstepping with the things they do and some of the filings they went for. Yeah, I agree. That kind of correlates with something Mike Dudas, who's a prominent investor, I think he's a VC as well, tweeted. It's in the link in the
snapshot. He said, "There's you see, are going to keep slipping new tokens into every case they bring, rather than conduct real rule making and governance or support law makers in creating a real framework or litigating directly." So it's exactly as you just said, of course it would be far more helpful to do, as you just said, actually
help create a framework so that people know where the law is so that they can actually comply but it seems to be the case at the moment is that they are regulating by enforcement. Instead of giving people the rules beforehand they are telling them that they've broken rules after
without actually explaining the rules at the beginning. So it seems to be the case that they're going to keep doing that at least as things stand, but I agree with you, it would be so much better if they just helped everyone and told people what the rules were and what they were not.
Unless you have any other points on that, I wanted to ask you about the development of NFT inspect. I know you are in the Dow there and you may not be able to reveal all of the details. But I thought this was a really big headline grabbing news that the website or some capacity NFT inspect will foresee
So I wondered if you could give us some update on that. Yeah, absolutely. So the first thing that I heard about this, I wasn't the liberty to speak about it, but I got super excited because essentially what I'm going to do is try to be a bit faster.
Twitter, such acts with some of the features that they have planned, right? Twitter has spoken, I think this was a month or two ago, about an integration with E-Torod to be able to trade. Stocks seamlessly in Twitter to be able to trade. Cryptocurrencies at least is in the form of derivative.
And if you think about that, it is a massive feature for Twitter to integrate that. So we definitely have had a look into the demand for that and we'll have a convincing argument or convincing case for doing that and seeing NFT inspect working on the
as well but in the different capacity you know by opening up and if T-Trading, cryptocurrency trading, probably via the extension in the form of overlay on Twitter is pretty cool. Yeah that's it's very interesting I mean my main point would be
that I agree with the general thesis that somehow uses on Twitter, whether they be directly through Twitter or through some overlay on Twitter by something like NFT inspires, they should really, if it was safe to do so, be trading as natively as possible because we seem to be online
We seem to be on Twitter all at the time. That's where you get the fastest news, whether it's about traditional stocks or macroeconomic news, NFT news, every different type of news. So it would make sense if you could do it within the platform.
my first thought, my second thought is would any company like this, I saw a company tweet that they went under, or they had to sell for a very low amount just a couple of days ago, because of changes to the Twitter API rules and basically it became too expensive to run what was a
hugely successful profitable company and they basically got killed by Twitter instantly as soon as because Twitter at the moment is so volatile they do one thing when they change this and they're changing things at the back ground all the time. It becomes very difficult to build a business either reliant on Twitter or using Twitter in some way
And so it makes me think that anything building on top of is very vulnerable to Twitter saying, "Well, okay, you can do that in the future, but you need to pay us your rent." And that rent is very, very expensive. What do you think about that? I mean, the experience here is that we are not only seeing with Twitter, but for example, Reddit as well.
where the app is also increased. They're pricing for API access significantly. I think in some cases, even more than 100x in terms of costs for people or companies using the API, and especially clients like
basically alternative apps that you can use instead of Reddit but also access Reddit because they have a sleeper UI or feature that you like they can run anymore because for them it became too expensive to do that and the reasoning behind that is that obviously you know Reddit wants you to use their own official app and if you think about that line of thought it makes
sense because they have advertising in there. This is their revenue case and it will be the same reasoning for Trito as well. So I think if your app doesn't necessarily try to take away traffic from the Twitter by extracting information, presenting them
somewhere else, which is in a way what subsided by embedding tweets and newsletters and blog articles there, but stays on the side of the pretty ecosystem that might be a bit different. But of course, it doesn't change the point that you made that obviously it is volatile if you build your
business on top of another business and massively rely on the business, not completely changing its direction, not changing its cost structure, etc. Absolutely. We are literally living examples of that. I obviously write a newsletter
you also write a newsletter. What I have noticed on my end is that as soon as these controls have been imposed by Twitter on subs that related content, the way that I share my newsletter has been almost certainly suppressed in some way and growth has
been much harder to come by as a consequence because I've already reached a certain following, not entirely huge but I'm at about 1800. I've kind of just figured like I'm gonna stick with it, I'm in a routine with Substack, I do like the platform, I kind of think it will get figured out between them and Twitter.
at some point in time so I'm in the camp of just look, well just whether this time I'm not impatient, it's not like I have to see x percentage growth every single week otherwise I get disheartened like I've been doing it for 70 weeks now already I'm not phased but going a bit slower at some point it's not going away anytime
soon. So my take has been like, okay, I'll just be patient, keep going, it'll get sorted out in due time. You've taken an alternative strategy. Do you want to walk through why you decided to switch to be high? Yeah, absolutely. I am
no any way you are at your news that of journey because I always started. I'm only a couple of weeks ago with my newsletters on the sub-stack actually even invested in the company in their series B. It's quite excited about that being an investor, being a user of the platform. And growth was, you know,
perfectly refined in the beginning was able to build up momentum but as you said once you know there was this dispute between whether and substack whenever I posted a substack link in the tweet it would completely disappear like I even tried that on a viral link that viral tweet of mine that had more than a hundred K impressions
and was growing by 1k every 2 or 3 minutes, both at a sub-stickling, it instantly died. So it was not a conspiracy theory, it was a real fact. For that reason I was like, okay, I'm going to change the hype. I also think, like you said, that in the long run, sub-stigging
with a real fine sort of agreement, however that might look like. I know we've discussed a couple of times in public, there will be cool to see Twitter just a firing substeg. In the meantime, I do want to focus on the growth and have the news that are running on D-Hive while it's still going to maintain the same content in parallel on substitus wall.
to a decision which I will focus on the long run, once there's a result of the whether it's such a dispute. Absolutely, I think yeah both options are very viable but it just serves as a reminder to us and everyone that when you are building stuff out on the internet
You're always fairly vulnerable to these platform risks and it's always something that you need to navigate and have different options and yeah, different options online got to stay nimble be able to pivot as and when you think necessary because the rug can be pulled from underneath you and
quite quickly sometimes and things can really change very quickly. The guys this has been an excellent discussion we are running out time for today's show so we're going to wrap up in a moment but I just want to ask legendary on his way out into Lisbon, into Portugal what are you looking forward to most
in your NFC Lisbon experience legendary. Right now I'm getting out of the airport to getting into taxi and getting to my hotel and after that it's gonna be the speakers dinner tonight and I'm actually quite excited for it because there's like more than a dozen people who are spending the ending with and talking to
for in some cases even more than a year with never met before and just curious to put a name I put a face of the names. Absolutely amazing I hope that you meet lots of good people however I would say that for the people who don't know me and legendary actually met at NFC Lisbon one
a year ago to this day, don't replace me mate, you can't replace me. That's my warning to it's irreplaceable, let's not go and replace me with one of these 19 people who you've been DMing with. I won't stand for it, I do want to know a list of people who you've been speaking with when I get
you get back. But ladies and gentlemen, thank you for being with us today. That is the end of the show. We appreciate you spending your time with us and even though we are in different locations, we will be continuing tomorrow and every day this week. So have a great day and enjoy. Bye bye.