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$PKT COMMUNITY ROUNDTABLE W/ CHARLIE SHREM
Recorded: Dec. 11, 2024 Duration: 1:02:48Space Recording
Full Transcription
What's up, everybody? Welcome to the PKT Community Roundtable. Happy to see you guys all here. It's
Wednesday, December 11th. We got Josh Berger, Jesse Berger, Caleb James Delisle. I'm Jeremy
Berger. We have a special guest on today by the name of Charlie Shrem. And when he joins,
joins, we will get right into it. So how are you guys doing today? Doing great. Yeah. Markets are
we will get right into it. So how are you guys doing today?
green. Yeah. That was a scary little moment there for the last couple of days. Yeah, indeed. Indeed. the strong survive yeah they do um yeah well it's uh also a lot of uh exciting uh updates for pkt
um i don't know if everybody saw but there was a uh a tweet that went out yesterday that we have
over 100 nodes up around the world that's great and 25 basically 25 new nodes are going up a week which is super exciting
yeah so just to clarify are those those are all cjdns nodes not domain nodes
or did that include domains i'm pretty sure that just includes it's just cjdns nodes
yeah it's just cjdns nodes uh for domains it's got to
be like 20 or 30 of them yeah so that's kind of cool we should have that added to the packet
node.network website how many domain that would be awesome to have a list of domains you were just
talking about which top level domains have been staked and getting some representation on that dab
staked and getting some representation on that dab.
Yeah, I'm pretty sure that it's already up. If you go to the
the domain site, then you can already see it. It will tell
you how many are already up there.
Yeah, well, it's exciting. You know, mission, mission on track,
you know, we the whole point was to incentivize people to spin up nodes and
people are doing what they're incentivized to do. So that's been really exciting to watch people
take action and the economics making sense for people to do it. And yeah, it's been, it's been cool to watch it all come to fruition.
Absolutely. Yeah. Well, bravo hats off to the devs in particular,
Caleb for your fortitude on that,
getting that all dialed in and then everyone else who's contributed to creating
videos, creating websites,
and just obviously the community for running infrastructure and uh doing the stake to
earn yeah creating a website that you know tracks everything so rad to see that just like come out
of nowhere um you want to bring uh bring charlie onto the stage uh yeah let me do it right now sorry i was just uh yeah charlie hey
what's up charlie how are you man the man the myth the legend we get him on a hundred thousand
dollar bitcoin day too yeah 100k right now huh yeah we uh we made sure we got you on this day
it was very important.
It's good. Thanks for making 100K happen on a Wednesday.
Yeah, Josh wanted to push the price up. He did a couple of big market buys and just kind of made it happen for you, Charlie.
Surprisingly, there's only a few hundred bill that I had to throw in the market to move it, but you're worth it.
to move it, but you're worth it.
It's crazy.
It's crazy.
For anyone that doesn't know Charlie,
Charlie's an absolute legend in the space,
a pioneer of Bitcoin.
We can actually thank him for taking some bullets for us.
Started BitInstant back in 2011
and basically had his door kicked in and and got to serve hard time for us
back when this was just pioneering the space so now out and doing amazing things has the Charlie
Schrem show podcast which is anybody who doesn't subscribe should subscribe because it's awesome.
It has amazing info and people on it.
And, yeah, really, really stoked that you could join us today.
It's good to be here.
For everyone who's watching right now, if you can go do a repost on this space so we can get it far and wide and reach out to your community.
Thank you, Charlie. Appreciate that. space so we can get it far and wide and reach out to you right now oh thank you charlie appreciate that um yeah everyone else who's listening um if you can just hit a like a retweet um let's get
this space popping we know that after uh about an hour we get up to about 100 200 people so uh if we
can get there sooner that would be uh epic because we got a lot of fun things to talk about today.
Yeah.
Well, one of the most fun things to talk about is we're here with Charlie,
who basically got a long position going from that's up $99,999 right now.
Right.
There we go.
That's insane. Hey, so Charlie, so just to give people a little context for people who, you know, basically been under a rock for the last, you know, 13, 14 years. Just when did
you get into Bitcoin? What was that? What was that? What was that number for you? I got into Bitcoin in late 2010, early 2011 around.
The price, it was during the years when you would see 10,000 Bitcoin for a dollar or something on
some Excel spreadsheet, which is how it wasn't really even traded anywhere in the normal sense of like how you would think now.
Like people weren't even trading Bitcoin.
No one really understood why people would buy and sell it even.
It was more of like you had people that were buying Bitcoin and then you had people that had Bitcoin who wanted to sell it.
And so that's why we started BitInstant.
And I think the price was like, I mean, sub a dollar for sure.
I remember when it broke a dollar.
I remember when it broke $10, when it broke $100.
And when like my first bull market was when it was like my first bull market, it went from like 80 cents to like $36.
And there's only like one exchange. So when I mean like this, it wasn't like
you go to Google and or CoinMarketCap and type in like, what's the price of Bitcoin? There was
like one place. And there weren't that many holders like that really cared. It was more of
like a long term, the price was kind of looked at as like a long term measure of our success,
kind of looked at as like a long-term measure of our success,
not, hey, we're all getting rich.
Because really the liquidity in Bitcoin
was less than a couple hundred thousand dollars a day.
So it's not like you were making millions of dollars overnight
and seeing millionaires and then dumping.
Bitcoin was trading less volume than most altcoins today.
So it was more of just like a measure of our success. Like
there were more people willing to buy it than there were that wanted to sell it. And it wasn't
really like a reason to sell it because the price was, was going up, but it was, there wasn't much
liquidity and there wasn't much you can buy with Bitcoin at the same time too, only on the Bitcoin
forums. There was a lot of focus. I remember when Newegg.com,
which was a big computer website, started taking Bitcoin. That was huge. We're all buying computer
chips with Bitcoin. That was one of the first ones, when WordPress, I got a Holiday Inn to
accept Bitcoin, my bar. There weren't even many websites that you could check where BitPay was
the only one who was doing it at the time.
So it was kind of like a very different world.
It was very exciting.
I didn't honestly think it would happen this fast.
I didn't think, wish I had more, but I didn't.
I always thought the bull and bear markets would be a lot more gradual.
I thought, I assumed that, okay, every bull and bear market, you get a little bit more confidence and learn how to like trade the bull
and bear markets. But I, but now we're,
it's getting so big and everything we, you know,
what the next bull and bear market looks like. I don't know.
It's like kind of the last, the last chance, the last,
the last bull market maybe.
I've been saying that for the last like year or two.
And you think it'll just trade with the stock market moving forward and that's just like now they're one in the same what's making the price go up is not just the fact that a lot more
people are buying it and willing to hold it and there's the institutional side of things and
everything everything but the the price of bitcoin is set on these exchanges that have the liquidity of spot
bitcoin there's just not a lot of bitcoin being sold on these exchanges anymore being listed there
being sold it's hard for exchanges to even get bitcoin there for people to sell it so it's a
very difficult thing and it's and a lot more people are just holding it so but like if you look at it on a larger scale going from 10 000 to 100 000
is a 10x going from a hundred thousand to a million is now a 10x so like every bull and bear market
we actually it gets smaller how much we you know how much bitcoin grows and the whole
market cap grows we went from like 500 trillion to three points 500 billion to 3.6 trillion in
like four or five years but it's like it gets infinitely smaller so by the time we hit a
certain number those bull and bear market numbers won't they as fluctuation as, but by that time, I mean,
going from zero to 10, but zero to a hundred is a hundred X and zero to a thousand is a thousand X.
Like, and then from a thousand to 10,000 is only 10 X. So it's like, you kind of,
I'm looking at it from that perspective. I think it's logarithmically or whatever.
that perspective. I think it's logarithmically or whatever. Yeah. Yeah. It's wild. Yeah. But
it's interesting though, because you still have the opportunities with the altcoins and that's
kind of watching with the altcoin season now kicking off and you're seeing the Bitcoin dominance
coming down and the altcoins going up. I mean, that XRP run was just like
stupid. And yeah, you're just seeing kind of projects starting to pop off like crazy. And
we'll see even more of that now that, you know, the government is starting to bring some of those
projects into the White House, which also just seems crazy to think, you know, when I, you know,
I'm obviously not in as long as you,
but back in like 2017, when I started paying attention, like that just seemed like it would
never happen. And now to see, you know, them being brought into the White House to be advisors
on the world. Yeah, it's just wild. What a world we live in, right? It's amazing that that's happening and everything.
I'm really excited for this administration.
Just if you dive deep and look on who they're hiring and who these people are,
everyone wants to see some change.
And change will bring volatility and it'll be scary,
but it'll also bring crazy trading opportunities at the same time.
And all these different industries that operate in crypto and all the altcoins, it'll present crazy opportunities.
And it'll be interesting to see what sectors of crypto get regulated or deregulated or laws clarified first.
It'll be interesting to see where all that goes.
Yeah, no, totally.
And yeah, that's what's gotten us really excited.
It's been interesting because we've been building PKT for a long time.
pkt for you know long time and uh and we've always had this kind of understanding of um you know just
like a decentralized internet and censorship resistance and all that stuff that's super
important and then now you kind of see the politics following suit on that where that's becoming even
more important and more relevant um so it's been nice to be building and letting the times catch up to us.
Yeah, you guys have been building this for a really long time and have been growing it.
And so it's not like this is a new project.
And how's everything going?
Yeah, it's been really cool.
I mean, Caleb's been just in the trenches building stuff.
And yeah, we actually, it's been a while since we've even talked. Because, because yeah, there's been a lot of stuff that's built. One of the really cool things, you know, obviously, we moved the project over to the base blockchain, and, and been tapped into that ecosystem with the new stake to earn protocol. But we've been pairing it with infrastructure nodes, which is something Caleb has created that has made it so that people are
getting paid to set up the network and running nodes all over the world. There's actually a map
that shows all the nodes around the world that are being set up every day. And then we also have the ability to stake domains.
So this, and we were actually just talking about this on the founder's call.
We were just pretty fired up on this, like almost this realization.
It's kind of like you're building things and then you like realize
how dope some stuff that you're building is.
dope some stuff that you're building is, but like now people can stake domains.
But like now people can stake domains.
And so you can stake top level domains that are pkt.com.net.org.
And then you can soon you'll be able to claim domains within the packet network.
And so all to be able to claim domains, all you have to do is stake packet and pair that domain with your
stake doesn't cost you any money um and then it will resolve through all the different top level
domains you know so how cool is that pkt.net.com.org. all the ones that are staked and now your
domain is free i mean think about how much money you
spend on domains that you own. And you pay for them forever, you know, otherwise you want to
get rid of them. So to have basically free domains that you could build websites within the packet
ecosystem becomes pretty epic. Yeah, this is the online nodes right now.
I'm checking it all out right now.
This is awesome.
Yeah, it's just starting to grow.
And, yeah, it's been exciting.
Yeah, and if you're in, you know.
I'm having 28,000 nodes, man.
That's hard to do.
Yeah, we got 105 online right now. If you on the screen um wow we got this these are the live cjdns nodes and um and yeah just uh growing daily it was actually just at 100 the
other i gave a speech the other day i was giving giving a talk here at a Bitcoin conference on Saturday
because someone was asking me about nodes.
And I was kind of a little bit shocked with how Bitcoin nodes,
and I'll give a little bit of the history of why it happened,
but the growth of Bitcoin nodes,
and those are people that are running the Bitcoin software, not mining,
talking about node operating, and they were all together at one point, the wallet, the Bitcoin mining, and node operating.
But stripping the mining out of it, the computational hashing of just checking for the difficulty hash, which you need the ASICs.
checking for uh for the for the difficulty hash which you need the a6 but the actual like computers
that are that are maintaining the ledger the Bitcoin ledger and and uh in a decentralized way
which is what you guys are kind of doing here at the same time um that has plateaued at some point
the amount of growth of Bitcoin nodes kind of plateaued and and there's a lot there's like 10
15 20 30 000 plus tour nodes that we don't know And there's a lot. There's like 10, 15, 20, 30,000 plus
Tor nodes that we don't know about. There's always tens of thousands online, thousands online. And I
could be wrong about the exact number, but the point still stands. And I remember very early on,
there was a lot of conversations in the Bitcoin space about like, how do you incentivize nodes?
And it's a really hard thing to do.
You guys have figured out a way to do it,
but it was a really hard thing to do in the Bitcoin world to a point where, like, because Satoshi didn't build anything
into incentivizing nodes, and at some point,
mining and node operating, the software is kind of split
into two separate things when ASICs and stuff came out
and FPGAs and p fpgas and gpus so it's like i it's hard like casa
node for bitcoin tried to is doing it but like other than like a religious feeling it's hard to
to do that so unless you're like contributing to running that decentralized uh media network that you guys are building here.
Yeah. Yeah. Well, that's what's been interesting is like, it's also been really cool being able to partner with a lot of different platforms. And we just did a partnership with Akash,
a partnership with Hybello. And so being able to get these deep end infrastructure providers to support running packet notes
and open that up to their communities. That's been really cool and rewarding.
And then what we're building right now, which is super exciting, is the packet hub.
And we've already launched the hub, which I don't know if you've seen it, but we.
It's on your website right now.
Check it out.
If you go to hub.pkt.cash, we launched the hub, which is just kind of like the intro
to it.
But.
This is so cool.
Yeah.
But this is, this is kind of step one.
What we're actually about to release is the full expansion of this where we're bringing in gaming, gambling, crypto, music, media.
And now you'll have this like hub for discovery where anybody can put a platform on there.
I was actually I'm in the producer field and I was just at the,
at their holiday party. And we're just talking about like, where do you go find, like, where
do you distribute content? You know, like you're putting it on the big streamers and they're
keeping all the money and you're just like a hobbyist that's, you know, working at Starbucks
in the film business. And so like, how do you go, if you're
going to go create a competitor, where do you just get discovered and how do you bring traffic there
and where do you bring audience there? And so being able to create that hub, that is a new
place for discovery where you're not just going on the Wide Web and just searching, you know, new content, which nobody's doing, creating that ecosystem.
And this really opens up the opportunity to partner with conversation and create this ecosystem that anybody can participate in.
You guys really need to write a book about running a crypto company in a bear market and what it's like to be back in the bull market.
I've been bottling my tears for a few years.
Now it's a different world.
You can see growth.
Like a lot of people are excited.
You're going to see like people are,
I think getting comfortable with like the idea of also like having a
different physical device in their house.
That's part of some decentralized internet.
So the world is definitely changing in that.
Yeah, no, indeed.
Yeah, no, it's exciting too.
The whole sentiment's changed, you know?
It's just, you know, in the bear market, it's just, you know,
obviously it's tough, but in the bull market, everybody's a genius and a tech guru and a trading master.
And on green days, it makes it even easier to be a genius.
I think that, you know, the truth is people are more open to projects like PKT at this point.
You know, seeing a lot of the, you know,
older projects kind of come back to life.
And it breeds new energy into the projects
that have been around through the bear markets
and were, you know, launched five years ago.
And also, you know, things are so much different now
than they were five years ago. As you know, even things are a lot different than they were 10 years ago. And also, you know, things are so much different now than they were five years ago,
as you know, even things are a lot different than they were 10 years ago. But now we have
institutional involvement. Now we have presidential and different type countries getting involved in,
you know, crypto. So it just kind of like opens up the playing field for everyone to participate in and have a share.
And so with PKT, the awareness, growing the awareness on this project is really key and getting it in front of like people who may not even have ever even heard of this project.
And once that happens, it's going to be just a cascade effect where people are going to be like, holy shit, this thing is, what is this to do?
And building a decentralized network ain't easy,
and it's kind of hard to wrap your head around,
especially if you're not a tech person or even understand how the internet works.
I'm sorry to interrupt you, but we're getting a lot of like an influx of new viewers right now.
And I was wondering, maybe you guys can just take a second and like give a little bit of background on the company and yourselves and what you guys do.
A lot of my followers are here.
Hey, everyone.
Thanks for being.
And yeah, because it's like, let's use this opportunity.
Yeah.
Totally.
Yeah, I'll just give a quick pitch on it.
I'm sorry for interrupting you, bro.
No, you're all good, brother.
Yeah. Yeah. So Packet is a ecosystem of apps similar to Apple TV, but it's all built on
decentralized infrastructure. And so building out a network that's powered by the people,
building out a network that's powered by the people. People are economically incentivized
to power the network. And you can run nodes all over the world. We're showing the node count as
it's growing and people can stake to earn to power the network. And then on that network,
you can build anything you want. And the hub that we've created, which is hub.pkt.cash, that is the ecosystem where it all exists.
And that's just a place for discovery in the crypto space where people can understand, can discover new platforms.
And it's payment agnostic even though the economics are
are built on base and this is a deep end project in base the network itself supports all projects
in all industries from web 2 to web 3 but instead of being built on top of you, it is built on the top, on the backs of the community. And yeah,
it's been really exciting. Some of our background, we're from the film business.
We've been making movies for 20 years. Jesse's done over, his movies have done over a billion dollars in the box office.
And Caleb invented CJDNS, which is actually two years ago was pushed into Bitcoin Core
because it creates resiliency in the network. So when there's an adversarial ISP or government or whatever, that Bitcoin blocks can
still be pushed to the Bitcoin network. And that's why CJDNS was included into Bitcoin Core back in
the day. And of course, CJDNS is the backbone to the packet network
and really provides the,
absolutely provides the infrastructure
of the mesh network.
So that's really exciting.
So that's the main difference.
And I explain to people is that like,
you have the current internet, which is here, and it's all
based on centralized data centers all over the world, and you have all these cables and everything
running between them, and all the data and everything owned by us and everything we're
talking right now and everything that we're doing and all the monetization involved in this,
except for the little slim pickings that we can get ourselves is going to these big corporations um like the you know the big four but with this new internet
that's being built from ground up it really is being built in this kind of like decentralized way
and uh where everyone has not only their own vote but also can in in a lot more of a free way control the data. Like if you look at medical
stuff and maybe mortgage and information like that, but here we're talking about decentralizing
media because when you guys released a movie or a TV show, I mean, you barely get any of the money
that comes along with it. Right. Yeah, totally. And, and, and, And even just at the base level of the internet, it's like, I don't want to spend $30 a month for a domain and then another $10 to have it privatized so some phone marketer doesn't blow up my phone trying to sell me something just to be able to have a website up like that.
The internet was always created to be a public service and a public utility for the world.
And it's become so centralized.
And even these projects that have all goodwill intention building decentralized stuff, but
you're building it on the most centralized infrastructure there is.
And so by distributing that around the world, you create this resilient network that is very
powerful and censorship resistant and powered by the people. And so that becomes very exciting
to be able to do all the amazing things people are doing in the crypto space but to be able to do
that on the infrastructure that's actually decentralized and also having this hub where
all that stuff is discoverable because it's cool if you're doing something novel and exciting but
like where are you doing it you're doing it in the corner of the internet and nobody can find you
and so by bringing all these great these great innovators together
it becomes pretty amazing because now we can now we can have a place where you can discover
the amazing things that are being built and also i want to i just want to highlight one thing that
i'll highlight one thing that josh said and you know we we have a call on tuesday
that we did yesterday we were really brainstorming about how we can best market and and promote some
of the foundational aspects of the packet network and one of the core foundational aspects of the
packet network and i just want to highlight what josh was just saying is the ability to set up decentralized domains in the packet
network. And essentially what that means is like if most people, maybe not everybody, has set up a
website at some point in time. And when you do that, you have to go buy a domain. So you go on
to GoDaddy or Namecheap or you buy your domain, you know, um, your name.com right now, if you get that
domain, you now have to pay that registrar, whether it be go daddy or whatever for the rest of your
life. If you want to keep that domain and the, and you can buy it for five years, you can buy it for
one year. Um, and then you're going to get a renewal. And as long as you keep renewing, you're going to
keep ownership of that domain name. But there's also problems with that, uh, system because of
the centralization around those domain names. It's actually possible for that registrar to revoke
that name from you. Um, we were just talking about a situation that if you were to, for example, have bought, let's say, Coca-Cola.com and Coca-Cola
comes around and says, hey, that's ours. You have to give that to us. There's a world in which
through a legal process, they can actually take possession of your domain name, even though you're
the rightful owner of it. And that's because of the centralization. And so what Caleb has been
building along the lines of what Charlie
was just talking about with regards to a decentralized internet is the foundation of
that is domain names and actually being able to own those domains and have them be truly censorship
resistant. Now, a lot of people interpret censorship resistant to mean like, oh, well,
does that mean you're going to be doing another Silk Road here? You're going to be creating
terrorist websites. No,
this just means that, like Josh said, I want to have the privacy so that when I set up my website,
some telemarketers not just blowing up my phone and sending spam mail to my address,
or I have to pay GoDaddy $13 a month for the rest of my life to protect my information
as one example of censorship, resistance, and privacy.
And then the other example is just that I don't want to have to pay $50, $100.
Some websites are even thousands of dollars a year for the rest of my life to maintain
that website.
And so in Packet Network, what Caleb's about to launch,
and maybe Caleb, I know you're not feeling well today,
but maybe you just want to kind of clarify this
because you can speak to it better than I.
But one of the things that's about to launch
is the ability to create domain names in the Packet Network.
The caveat is that this system basically uses a three-level domain.
So you would basically pick your name and then .pkt.
And then within the packet network,
you would just be able to get to websites,
typing in whatever the name is,
if it's your company name .pkt.
but if you're just navigating from the regular internet um you would need to have also a third
But if you're just navigating from the regular internet,
level um top level you know basically the top level domain so it'd be like your name dot pkt
dot agency or dot foundation or dot whatever top level domain has been staked into the packet
network and so what is happening right now is individuals within the
community are buying top level domains. So it would be circuit.foundation. They'll buy that
from like, let's say GoDaddy. And then they're staking that domain name into the packet network.
They're responsible for maintaining the monthly expense or yearly expense of that top
level domain, but they get now compensated by the packet network for staking that domain into the
network. And it makes it so like, Charlie, you could come along and go, I'm going to, I'm going
to take charlie.pkt. That's now your domain name. And no one could take that down and anybody would be able to access charlie.pkt from any top
level domain staked into the packet network if you were to come into the packet network to reach
your website and if you're reaching charlie.pkt you would have to also include the top level
domain like the third level um let's say dot agency agency or dot foundation, or there's like now I think 50
top level domains that are staked into the packet network. So that provides unbelievable
resilience, like makes it so people can take down these websites and the cost for you to
own that website in perpetuity is just maintaining a stake on the packet network. And it could be as
little as, you know, one packet, which is a tenth of a penny. So, and you don't have to pay it every
year. You just pay it one time and just keep that stake, you know, staked in. So this is pretty
exciting. This is just launching now. And we're, you know, seeing this as a new foundation for the
decentralized web where people can build that resilience
and that global accessibility for these websites.
And then, again, providing the foundation
for all the different types of media content,
news, publishing, music, whatever can be built here.
Gets me up in the morning.
Yeah, and then the other side to it is opening the ability
for content creators to release the content that they want to release and not have to, you know,
worry about being deplatformed. And so obviously people aren't going to, you know, stop using their
centralized, you know, apps. And, but, you know, this is another is an alternate option as well. So it's like additional
people will be able to put their websites up. Even if somebody wanted to create the decentralized
TikTok or decentralized YouTube, all this could live on the packet network and give people the
ability to release their content through their their platforms and
so the the opportunities are endless and we're just building out the foundation for it and giving it
to the community to go ham and do what they want to do so uh it's exciting times yeah selfishly
you know this infrastructure it relates back to the movie stuff. And I know,
Charlie, you've become extremely passionate. It's a lot of fun movies. I feel like making
movies is like, is like starting crypto or Bitcoin startups in a way like, you're making
something fun for everyone. It's like almost like a reminder, if you're, if you're starting a
business, and you're not treating it as if you're, you're starting a business and you're not treating it
as if you're you're producing a movie then your your business is is going to fail because in a
movie like you have to really focus on your cast and crew being happy and pleased all the time
but they also have to work hard there's like a fine balance they can't take advantage of you
but you have to be firm the budgets like every dollar is literally like when you get
startups, they raise money from us. They just go and they spend and they try to like spend to get
to a goal. Whereas in a film, it's like, assume we have the goal today. How much money do we need
to get there? Every nut and bolt is accounted for. And then with a film, it's like, it's just
all these other things I can. So like making these small films and working with you guys on some projects over the years, it's like almost like a – I don't know what I'd do without them.
Like I don't know what fun I'd have in life.
Thanks to my wife, I could do them.
But it's like I don't know what I was doing with myself before making movies.
Yeah, it's such a, it really is. And what's actually cool about movies, and it's a
little off topic of crypto is you have, well, it's actually kind of on topic with because
with movies, what I love is that everybody that gets brought onto a movie is an expert at one
thing, like they're really good at lights or really good at sound or really good at camera or really good at acting or really good at directing.
But like they don't they're not experts at all the other stuff.
Maybe they have some knowledge on the other stuff, but that's not their like expertise.
And you have this collaboration of experts that all come together to be really good at what they're doing.
And by each person staying in their lane and doing what they're really good at, it allows for you to create magic. And that's just like this incredible
experience from filmmaking is really because you have to trust that person to be an expert.
And you have to trust them to do their art and to do what they're great at. And you get to stay in
your lane with that trust that that person is going to do it. Now, granted, some people aren't experts and that can go wrong, but that's also the excitement of the experience
because it's kind of like an extreme sport. It's like, we're going off this jump. We're either
going to crash and break every bone in our body or we're going to land and it's going to be the
most exhilarating magical experience ever. And it gives you that same kind of thrill,
exhilarating magical experience ever. And it gives you that same kind of thrill, which I love about it.
But yeah, it's also actually been really cool experience with packet being in the base ecosystem
and being able to kind of collaborate with what coinbase it has created as far as that ecosystem um and uh but you know i wanted to actually chat with you
about it because you've been you've been in the game since coinbase started what what has that
experience been to like watch that development of that platform and that company and all the kind of leaps and measures that it's been able
to accomplish. I think you saw Coinbase saw a couple of things happen. They saw Binance launch
their own chain, Binance chain at some point in the past. And then they saw the fact that
all these new layer two blockchain or even layer ones were being launched by startups and people that didn't really know what they were doing.
A lot became successful, but a treat it almost like the Apple ecosystem,
where anyone can develop and anyone can be involved,
but there's a certain standard required for development.
So it's almost like if you look at all blockchains are like Android and Android store,
if you look at like all blockchains are like Android and Android store and,
and, and Coinbase with basis trying to be like the Apple kind of development
system. Yeah.
And it's really been successful so far because a lot of companies thought that
the way to go is like permissioned blockchains,
permissioned blockchains are essentially like blockchains that you yourself
control and run but what they learned is that no one wants to build on someone else's blockchain
they want to either build on like a community-owned chain where if you own coins you're involved in
the voting or it's like owned by some non-profit or whatever or it's something like that and that's
what coinbase is doing really successfully yeah it, it's been great because, you know, working with the Coinbase wallet, I think is excellent.
And just the ability to bridge between Coinbase, bringing on, you know, new users, you know, because I've really been enamored with being able to bring in non-crypto people into the crypto space and having, we did this really successfully when we launched packet is a lot of our first
kind of early adopters of packet were non crypto people who this was their first
crypto that they'd ever earned or ever gotten because you were able to earn it.
And you didn't have to go through all the, you know,
hoops that you got to jump through to be able to, you know,
buy crypto and trade crypto.
And so that was really exciting. And when DeFi emerged, that became this great way where now
everybody can participate and there's so much innovation with the DeFi standard. And so, yeah,
it's been really great to be in the DeFi space and just all the technology that has made that easier, that onboarding experience and being able to bridge between centralized exchanges like Coinbase to the DeFi space.
It's been really, really amazing.
with packet is created a,
a yield vault that incentivize people to put liquidity into the,
that's awesome.
And so there's a million coins per day that are paid out proportionally to
people that are staking liquidity in the LP.
And right now we have almost 80,
we're about to cross the 80 liquidity provider number, which is pretty significant for how many people are providing liquidity.
You can actually lock up those LP tokens and you can generate up to a 4x yield on your returns for locking it up for up to a year. And so now you have people that are
putting coins, putting liquidity into liquidity pool, and then locking it up for extending
periods of time and getting paid for it. It's super lucrative. I think it's at like a quarter
percent per day right now. And sometimes higher depending on how much of the
liquidity you're providing. And it's a very deep liquidity pool. There's a $772,000 liquidity pool.
So you can literally take your yields and sell them every day if you wanted to. There's enough
depth there. And that was just really a novel way to execute this where we can make sure that this project has the liquidity it needs to grow and make sure that the incentives are aligned with people to participate.
accessible to like all the data and all the information and all the education,
because I get off stage and a lot of people still don't know what the hell,
like, you know, crypto is and what's going on.
They need like an entry or like very easily understand project.
Yeah. Yeah, no, that's been really one of my focuses.
And I've been traveling around the world,
talking on stages and trying to help people just get into the space. It kind of sucks because there was this whole stigma that was created
about how cryptos for criminals and all this stuff. And so that's just made it so when people
hear the word blockchain, the first thing they do is just be like, I don't understand that thing.
hear the word blockchain, the first thing they do is just be like, I don't understand that thing.
And so being able to get people past that and make it very simple. I mean, I know you've been
doing that your whole, basically your whole life or majority of your life. And for you too,
when you first started this, it just was, just was like no man's land.
There was no mission.
There was no like-
The whole new world.
Yeah.
And I think that that's been what's been exciting about the potential of regulation
because it's like, just tell me what's illegal and I won't do it.
But like telling me you don't know, there's no clarity,
like then we're just going to do whatever we think's not-
That's all we've ever wanted is clarity.
Yeah. Yeah, I'm sure you did. we're just going to do whatever we think's not. That's all we've ever wanted is clarity.
Yeah.
Yeah, I'm sure.
I'm sure you did.
Hey, thank you guys so much for having me on the show today here.
I really appreciate it.
Yeah, no, we're really excited that you were able to join.
You've always been a huge supporter and we appreciate all the support that you've lent to us.
It's been my pleasure.
Love you guys.
I'll see you back in L.A. sooner, but down here in Florida.
What's up, Charlie?
Hey.
I wanted to jump on and say hello really quick.
Just got in.
What's up, man?
Yeah, thank you so much for sitting with us today.
I think in closing, yeah, you've been a great advisor
and a great friend all these years and I'm excited to work with you, continue to work with you on the movie stuff and pioneering everything that we're doing on the Packet side of things.
While there's a lot of projects that are layer ones where people are building their blockchain projects on top of these layer ones, and there's so many different ecosystems.
I was just hearing that XRP is about to have an ecosystem, and I'm sure somebody's going to launch a meme coin on XRP.
It's like, okay, great.
Now another place to have meme coins.
We got them on TRX.
We got them on Sui. We got them on TRX. We got them on Sui. We got them on,
you know, Eve. We got them on base. It's just like, okay, you know, that's great. But what's
like the real world applications, you know, and with our passion being in the media space and
with there being so many entrepreneurs that are innovating across so many different sectors,
I think that's what
really puts PAKIT in a league of its own, being blockchain agnostic. It doesn't matter what
cryptocurrency you're using, or if you're even using cryptocurrency. It could just be a traditional
Web2 business, but you can be discoverable on the PAKIT network and use this infrastructure for
censorship resistance and decentralized internet and global accessibility
because the thing that gets me really excited is being able to have our movies globally accessible
without being geo-fenced and limiting the money that we can make as you know content creators by
the you know regional jurisdiction that that particular platform you know that's distributing
our content has you know Yeah, it's ridiculous.
So the world and stuff.
Yeah.
Yeah.
We just want to make money.
We want to make money.
It's not that complicated.
It's not that complicated.
So look, it's exciting to be on this journey with you.
You know, it's unfortunate that Caleb is ill today, but thanks for, you know, being here
with us, Caleb, anyways, and listening in.
And, you know, we got a caleb anyways and listening in um and uh you know we got
a bunch of really cool releases coming up um once once the packet um domain uh registration begins
which caleb is that launching this month is that your intent yeah my intention is to get that out this month um all right cool it was nice to meet you
charlie thanks thanks for being on the street take care um all right cool well that was awesome
to have charlie here uh yeah thanks to all the community members uh and friends of the family
on the charlie side for joining us today and
listening and learning a little bit about PKT.
Yeah, jump into the telegram and feel free to ask any questions.
You know, we're building a movement here and we're excited to bring in community and people
that are passionate about this next chapter of the Internet and content and uh and the ecosystem of crypto so
please jump in we're all super active in the chat and ask any questions and uh we'd love to
love to get in the get in the mix with you yeah i was just gonna say the token's available on
uni swap so if anybody's interested in participating in the project, you know, head over there. You can go on
DexScreener, DexTools. And I highly suggest everybody start staking to earn, add to the LP,
get yourself a CJDNS node online. If you're in a, you know, country that isn't, you know, super,
you know, congested where nodes are, you earn, earn more, especially domains.
So we encourage community around the world to participate.
And the further you are away from the masses, the higher your yields will be.
So get, get yielding and staking and enjoy this ride with us.
Yeah, absolutely.
And then like I was going to say with when the domain registrationsrations come out you can come in and grab your unique domain name uh caleb do you just want to quickly say what
what gets you excited about this domain service that's about to go live like what truly makes it
unique well there's uh there's two perspectives one is that you have a lot of times somebody will set up a website, you know, like I'm trying to think of one off the top of my head.
And then at some point, the regulators will come in on their horseback and take the domain, and they'll put up this splash page
that says this website has been seized. And it's not to say that there shouldn't be a process at
all, but that whole process of riding in on horseback and grabbing the domain to to show off that your your power is um kind of
uh it's it's a bad look and um with this system you mean there is no seizing a domain like that
because you know you're gonna have like 30 domains you know like cjd.pkt.everything and and so you'd have to go around and try to seize all of them
which is just unrealistic so that's that's a nice aspect another nice aspect is um
that it kind of makes it easier for hobbyists because for for example me, I have more servers than I would like to admit.
And, you know, either you got to have domains for them or you use subdomains.
You buy one domain and use a bunch of subdomains.
And with this system, I can have domains for each one.
And those domains can, you know, point to whatever machines that I'm running and it can point to their cjdns nodes
so those machines don't even have to have public ip addresses in order for the domain to work
so those two two elements are are interesting to me about the domains of the for a system
administrator and and for somebody who wants to be able to have a domain and have a little bit more process
before the thing gets taken down.
There's no – you can't just call up VeriSign and tell them
that they need to take down the domain.
It's not quite that easy.
Right.
Well, yeah, I mean, you say hobbyists, but you also said, you know, system administrators and that use case alone, just on the, you know you know you're getting you'd be able to have all of your servers have unique domain names they're all connected within
the you know through cjdns um you know incommunicable you know machine to machine and
you know we were talking about that yesterday just being a really cool use case probably be
smart to get a medium post out around that particular use case
and some of these other use cases for this network um because there's quite a few different aspects
that make this unique and um and applicable so i'm very eager to see how people end up using it and
um some of the proliferation that you know is possible with this
network and it's the only blockchain dns system where the domains are publicly accessible you
know namecoin and dns and handshake and i don't remember all the others none of them are publicly
accessible you always have to install software to use them and this one will be publicly accessible
based on the staking of the domain
names yeah i mean that's just so huge it's sometimes you know we gotta like pinch ourselves
to realize what we've been building here and um you know sometimes you know it obviously realize
it's incumbent on marketing but sometimes you know the early stages, you build some tech and before it really takes off, it's hard to quantify how big and valuable that it can be. But yeah,
just that use case alone is incredibly, you know, huge. You have projects like Unstoppable Domains,
right, that, you know, raise hundreds and hundreds of millions of dollars and don't have that capability. So this, the little engine that could here, you know, with big, big implications for,
you know, resilience of not only resilience of a website, but also just the global accessibility
of websites for these websites not to be able to be, you know, declassified, de-emphasized so that, you know, people can't
discover them from a global standpoint.
It's really, really powerful.
So, you know, the PKT.
So what do you call it, Caleb, where it's got the three levels to it, where it's, you
know, cjd.pkt.agency?
What's the, how would you refer to that type of you know website where it's got three
words in it i guess it's a third level domain third level about much got it um well you know
we're gonna we're gonna popularize the third level domain you know and that'll be that'll be
one of the things i mean obviously there's something sexy about just having, you know, your name dot PKT. But again, you know, even if that was to be done and you were to, you know, go through the process of getting that, then you still have, you know, now the centralization around the, just the PKT, you know, or dot PKT, you have the potential the potential for centralization around that.
Yeah, look.
This is a great conversation
and very excited to get this tech
live. What you're expecting
obviously for domain registration
to go live this week.
I'm not moving very fast right now.
Sorry, I meant this month.
I was hoping to have it out this week.
I was actually hoping to have it today,
but I got thrown for a loop here.
I'm in bed right now.
Got to love the internet.
Yeah, cool.
Well, as Jeremy said, PKT is trading on Uniswap. This project had gotten up to a $400 million market cap in the last bull run. So we're gearing up for this bull run that's happening now, building the tech that's needed, building the community. So love to have you all with us and really appreciate all the people that tuned in and listened up on this lovely, lovely Wednesday.
Indeed.
We do this every Wednesday and we're going to start bringing in more luminaries.
We were just talking about it.
It's like we have some just absolute hitters that are involved and advising on this project.
hitters that are involved in advising on this project. And we're going to start bringing them
into the roundtables to get their perspectives. And so tune in every Wednesday, 9 a.m. Pacific.
And yeah, we'd love to keep sharing all the progress and jump in the telegram as well.
Yeah. And I highly suggest for everybody who's on this space that doesn't, you know, hasn't ever heard of PKT, you know, go trip around on the website, connect your Web3 wallet, MetaMask or Coinbase wallet to the to the dashboard and just, you know, cruise around, check it out.
I mean, it's some really cool tech that was built for this.
The staking protocol is extremely legit and everything's built on base. And so it's just really cool.
I mean, you literally, you know, stake, stake, buy some packets, stake it and start earning.
Obviously now you have to pair your packet with infrastructure. But as Jesse and Josh have said,
you know, multiple times, you know, it's as easy as going and getting a domain that's, you know, PKT dot something.
So like PKT dot capital dot forum dot AI or whatever.
And using that and then you and then you pair that with your stake.
And there's you can pair unlimited amounts of packet with that domain stake, which is really cool.
The CJ DNS node is capped at $5,000.
So if you're going to invest more than that,
you're going to need multiple CJDNS nodes to be paired with your stake.
But, and also there's a new network steward that's out there right now for marketing.
Just, do you want to kind of just, just, yeah, I should touch on it.
Yeah.
Yeah.
I'll just touch on it really quick.
So we created, so 20% of all the, you know, yields that are accumulated on a daily, monthly,
yearly basis are allocated to a network steward and the network steward is elected by the
community. a network steward and the network steward is elected by the community so when you set up your
stake you can enter in a wallet address that's essentially uh your your vote for who is going
to become the network steward and you know one of the things that this project has really needed
um is is marketing a marketing effort over the last three months, Caleb's been the network steward,
and those funds have been allocated towards all the technology development
and remunerating his time, effort, resources to building all this tech
that is now just on the verge of launching,
and some of it's already been launched.
And then as of today, I believe it's today, right, Caleb,
that network steward vote will shift to a proposal that myself and Jeremy and Josh put forth.
And that will go, like I said, live today.
An allocation of the network steward funds is still going to go towards Caleb and the technology, ongoing technology development.
And then another allocation of those funds is going to go towards marketing efforts. So we're
bringing on, uh, it's not a marketing agency, but it's a group, uh, that's going to come in
and, uh, we're going to run a trial, a one month trial with them. They would like a three month
contract. So we'll either renew, or if they don't do a good job, then we'll move off.
But really excited with what their proposal included.
I included everything from their proposal into the network steward kind of application,
if you will, or network steward proposal.
So if anyone wants to go check that out, I posted it into the network steward channel on discord. And I also posted it, maybe Jerry,
we could pin it on, on the telegram. So people can find that post. We'll do that today. And you
can go read the proposal and we're just going to start making some moves. The goal is to get partnerships, marketing effort, which includes a lot of speaking engagements and building awareness in social media and beyond.
And start driving people into expanding this community, both on Telegram and on X.
Doing more spaces, like what we just did today and really just growing
this thing as josh mentioned you know the market cap for packet was over 400 million in in january
2022 and now that we're back into a uh the impending bull run and all coin season is uh
seems like it's really going to be forthcoming in 2025.
You know, we should be able to see Packet grow quite a bit.
And just the utility and use case, this is not, you know, it's not a meme coin.
Although we do have a really cool kind of meme aspect to it that's just meant to be used as a storytelling,
a tool for storytelling, marketing, and building connection within the community.
But because we're talking about networking, it's not the sexiest stuff.
A lot of people's eyes glaze over.
So using, you know, cool marketing for helping make it accessible seems like a great approach.
And I think it's been really helpful so far.
And yeah, and that's our goal so hopefully
we can get some good momentum this month uh bringing on this team to help us on on the
marketing front and then you know continuing to make announcements great partnerships and uh and
doing our spaces every single month and and growing this taking advantage of the fact that
we weathered the bull market we built unbelievable tech during the bull market. I'm sorry, in the bear market. Now we're in a bull market.
Let's ride.
Yeah.
Cool.
Thanks, everyone, for joining us.
Thanks, boys, for showing up.
And yeah, we'll catch everyone.
Thanks to Charlie Shrem for joining the space.
And to all you people who are on this, 1,300 people are in our space with us.
for an hour space with us.
We really appreciate your time.
We really appreciate your time.
And yeah, if you go into the PKT Telegram,
you can see the network's through proposal.
I just shared it.
And yeah, if you have any questions
or you just want to chat, hop into the community
and let's get involved.
Let's go.
All right.
Thank you, guys.
Thanks for hosting, Chair.
Okay.
Peace.
