Baby, we're all gonna make it bigger than we were. Oh, baby, stop, don't know, don't know. So much is taking me out. Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh,#
I'm still like a sportsman alive.
I told you the truth because I can't. But I also lied and you because I can't. But if I tell you the truth, I guess I can sleep better at that.
but it looks like I got a doubt where because I'm selling you the truth.
I guess I'm just not everybody hates when they get to that part when they roll out. I don't want to tell you I don't care, but if it seems like I don't care, it doesn't mean I don't care. This looks like I don't care.
because my emotions have been sanded off.
I live in LA, sweetie, what do you expect?
GMGM I hear a new voice. Who is it?
Howdy partner. How you doing Polaris? Old kids. Old kids. That's the new phone. I got a new phone and it's my new Spaces hosting phone. So I'm trying to figure out how to get it not to. Was that audio? Was that you? What? That person talking on Harbinger dial account.
Oh yeah, the music? No, no, the voice before that.
that was music. Oh, was it? Yeah, that was the point your sisters. And they were what were they actually talking though? No, no, that was just there might have been something else going on in your phone, but that was just like disco essentially. Okay, because it sounded like someone it
I didn't sound like you at all. I was like, who's got control of the Harbinger Dao Cat? I think it was you talking, but I think because he was using a different
phone is probably the voice was slightly different. Oh no I wasn't talking at all there was this music playing. I didn't say a word. Yeah that's weird. I don't know what that was. No no no. Yeah it's just a script. What's up? Even it. So what's been happening then everything okay?
Oh my god so much so much good stuff. Well first of all the phone that I'm hosting spaces on now is a Solana saga phone. I got the saga and I gotta say I hate that it's an Android. I never want to use Android. I have always disliked everyone
one that I've used and this one is no different. But I'm glad that I have it because I think that there is going to be a lot of value and this can tie back into DID actually. There's going to be a lot of value to reducing the variables in sending air drops to addresses that are tied to the seed
on a specific device. So there is a vault in the token and she can claim that it's a soul bound in a swanawollet from getting the phone. I think a lot of people who launch projects and tokens and NFTs and blah blah whatever defy tools and want to do airdrops of any sort.
can easily target actual interested humans because of these addresses associated with sogophones. So I think that there's some sort of DID element to this. And I'm really not sure how it's going to play out yet, but I'm excited to see how it goes because it operates quite differently than a typical
wallet on Solano because you can spin up a Solano wallet 10 at a time and just you know they're everywhere and what's the point of you know you can farm airdrops essentially but you're not going to buy 10 $1,000 phones right so there's like there's a barrier of entry there because I think it's going to be really valuable to the ecosystem and I look forward to seeing how they capitalize on it.
Interesting. Yeah, we're right. So did you hear about like what happened with the BTC network with the ordinal
Did I hear about it? I've been living it. BRC's broke Bitcoin to the point where you can't send a transaction for under 250 bucks in one block.
Do you know why that's happening? Any transaction? Yeah, you can't do anything. Anything that you want to do, the priority level, I mean the SATs per V-Bite that are, that's how fees are measured. Unbiquitous SATs is in like Satoshi's per V-Bite. So like depending on the amount of information you want to send, you have to
and send an appropriate amount of money to cover per unit of information. So this has, per V by depending on what you're sending, of course, has ascended over 500 kind of consistently. And I've never seen them above like 14, even when there was like big mince going on in the beginning of ordinal.
really not, you never got over like 14 stats per VBite. Now it's over 500, which is, so the reason I think anyway that this is happening is that the BRC 20 token launches. Not only are there tons of tokens minting because people figured out a way to make shitcoins on Bitcoin, but
Every transaction, every sale and transfer is on chain because it's an inscription. So every time you transfer, let's say 200 or D tokens, you have to make an inscription of that transfer. So every single sale and purchase and transfer is an inscription. It's all happening directly on chain.
spiking the fees. And the irony here, this is actually kind of funny, is the fees become so insane that you can't withdraw Bitcoin from a centralized exchange because they don't want to pay the fees to do so because it's prohibitively expensive. But centralized exchanges are kind of the only respite we might get from this because they're the ones who are
going to need to take over the BRC-20 token trading in order to get it off of or off-chain. So there's really no way to do it off-chain at the moment because there's no L2 build for it. And centralized exchanges are going to have to pick up BRC-20 trading so that Bitcoin can start moving again as like Bitcoin, but they can't because
because no one can move Bitcoin out of the exchanges either to doing it. It's like it's Bitcoin is locked basically. So like gate.io just started trading BRC 20s and hopefully that takes it off chain and OGEX starts doing it and Qcoin and all that stuff. But so the Maxis were right. It got broke.
What they're proposing is that BRC 20 would be like a layer two solution for Bitcoin chain and then those BRC 20s would be like done off chain on Exchange wallets. So unfortunately BRC 20s are not an L2 solution BRC 20s are like tokens that don't exist.
kind of because they're inscriptions of tokens. It's like writing down on a piece of paper that you have you've minted a thousand forty and then the next time you want to sell 200 you have to write down on a piece of paper that you're selling 200 to the following wallet as an inscription. So you have to make an inscription which means you have to send a transaction
with SAS ProV by clogging up the works every single time you sell, mint, buy, transfer, whatever. It's all in inscription. So it's all on layer one. There is no layer two solution. And hopefully centralized exchanges would pick up the weight of this and all the transfers. Because you know, like when you
you buy and sell Bitcoin on a central, not even Bitcoin. Let's say you buy and sell Ethereum on a centralized exchange, you're not paying gas fees because it's not happening on main net. They're just kind of recording the transaction and nothing really happens on main net until you pull the token out to your wallet, right? So that's the solution that we're looking
looking forward to the BRC 20s is that everything moves to exchanges. So it's moved off of main net. That's our solution though. It's a solution because it's the same way everything else works at the moment, but currently not BRCs aren't supported. No, no, no, that's the recipe for disaster, bro, because
This is how FTX was done the same thing where people were depositing different tokens and they were just giving them IOUs and they were just messing around. I know it's a recipe for disaster, but at least it will get big point moving again. My point because BRC are a recipe for disaster than other themselves. It's not like it's a
So, right. So, so Bitcoin's blocks are blocked because the inscriptions are over over over weighing their blocks. You can do the point that the segregated witness is
is not enough lightning network is not enough to scale that amount because they still need to go through a block which needs to be mined. Right. Now it's costing a lot because that's the whole, that's how the whole thing is designed but like if the network gets congested. But it still needs to like, you know, the blocks would still keep keep going though.
like you know when you're saying that the the blocks are not being generated they must be generated they're being generated it's just that the priority level if you don't pay the most gas if you don't pay enough gas to get on that block you get bumped to the next block oh yeah you don't know man yeah I know it's normal I'm just saying that things are not going through for like
multiple days because the gas keeps increasing and if you paid 100 sats per V-bite and the gas fees never normalize back down to that level your transaction will literally never go through which is not necessarily a concern in real life but you it just means you have to like redo it at a much better gas fee and fight for it you know.
can you bump the gas freeze and then try to increase it and try to make sure that that helps not the gas like the sats. Can you increase the sats? Yeah, but that's how you get to the point where there are 500 sats per V-byte and then the next one is 600 and the next one is
So like everyone is doing that and that's what the problem is that's that you can't transact on Bitcoin almost at all now because of the shit coin craze. Oh, so this is this is interesting because The only way to stop that would be to stop the
the ship coins. Yeah. Well, to stop them from being on main net, yeah, to stop the style of transaction, the problem is not that ship coins exist. I guess I it's sort of like if ship coins existed on Ethereum and they only existed on a Dex.
Like if Pepe, currently it is only on a deck and look at fees right fees are insane because everyone's trading Pepe only on Dex's so it's all on main net. But as soon as like Shiba Inu and well yes Shiba Inu is a third token. As soon as that moves to centralized exchanges it goes off main net so the fees are no longer there. It's just whatever the
the sex charges. Whatever the centralized exchange charges for fees is what they charge, but they're not transacting on main net because they're keeping their own ledger of what's going on. That is already the solution that Ethereum has seen for chic coin trading. Bitcoin
is not seeing that yet. So it's it's burning the entire thing on main net and it's even heavier than if it were an Ethereum token because it's a full inscription of like multiple sats and large amounts of data that are being carried on main net. It's just it's crazy. It's crazy that it's happening and it's really
good that is happening because it's sparking these solutions. We didn't know we needed. So what about the BRC shit coin tokens? Do you know anything about the smart contract and the technology? How are they actually doing? Are they using it the same way as the inscriptions? It is an inscription. There is no smart contract.
So what about these shit coins you're talking about like are they'll this the the inscriptions as well. They are yeah, they're inscriptions. They're just inscriptions. The inscriptions say that say already to mint 200 or that's it, but it doesn't mean
anything. There's no spark country. There's no token. I don't think anyway. It's just it's a deeper ledger of a gambling history. That's it. What about what about the right? Okay. So what about the quantities like, you know, the
the circulating supply of these coins and stuff. How much is that? Well, the circulating supply is inscribed. So like, let's say, for example, the first one, or DORDI, has the same circulating supply as
Bitcoin. It's like 21 million. But it doesn't, there's not really 21 million of them because there's not smart contracts, there's not tokens. There are no tokens involved. It's just a ledger of how many, if you like, if I wrote down, there's a mythological place called
Antarctica. No, Atlantis. And there are five million residents of Atlantis and now one more is born. There's not really another resident. I just wrote it down another's a story about it. That's what's going on with these shikwins. They're not actually anything in circulation. They may become that at some point.
But currently it's just someone wrote down a list of things that they would like to exist and people are trading those as inscriptions. But a new inscription has to be made every time they're transferred. Because the transfer's record is inscriptions instead of movement of a token.
Does it make sense to me either? No, it does make sense. I think this is like, oh no man, this is very bad for the industry. All of this is happening to be quite.
But yeah, you're right. It sucks because like, you know, I mean, with Pepe, right, it came out. It was a different. The movement was different. It's like, if you look at the dynamics of the whole thing, it was different.
And then after that, like, you know, copypastors have been coming after that and it's just caused so much problems in terms of Ethereum network as well because everyone is trying to cash in on the next meta. And now Bitcoin seems to be like, you know,
It's been here since 2008 and the Bitcoin Maxis have had a very
fixated perspective over how to what the future of Bitcoin should be. And it's come to that point now that like you know someone managed to see like vulnerability in the code and they managed to inscribe something and as a result
This has happened, but it's ironic that it's happening while there's this huge movement happening on one side and on the other side we've got all these different distractions happening and all of this is like a self sabotaging aspect of the industry because
the realities that it's like all these different blockchains can facilitate each other you know instead of like trying to get each other down it's not I don't like that but as you said that it's good in terms of you know
progress because things are moving forward.
and vulnerabilities are being assessed.
And I'm sure there's going to be some sort of a solution. We should come out of it. I think it's happened on every chain. I think the Ethereum and the panic swap days back in or finance. Yeah, yeah, finance. Be it. What the fuck is there? Finance changing point.
or whatever, and I don't really be in B. I don't mess around with that side, so I don't really know what that much, but I know that there was a Shikwin craze on Ethereum, and there were gas wars from NFTs, and that was never really the point of Ethereum. The point of Ethereum was to be like, "Dap,
computer accessibility stuff for the masses to make solutions for things and run applications. It wasn't just like trade stupid NFTs and have $200 gas because of that. It wasn't really the point, right? But it did
make a 3M have to grow up a bit and figure out some of its problems and I think that's what's happening to Bitcoin and if it's got to be shit coins that do that then so be it. You know fine I don't think that it's any worse than anybody else doing it it's just like oh god this again we're
We're going to do this again, but we don't have an effective layer to solution. Maybe we don't need one. Maybe we just, you know, people will stop doing this because the gas fees are insane, right? At some point, they still continue to go up now, but it's because it's a gold rush. Everybody's trying to get that money.
But yeah, I guess I have mixed feelings on it too. I you know my take on shit cleanse. I can't stand them. But that doesn't matter. And I think that culturally if it's getting people into ordinals bringing them to download next
wallet and sort of explore the ecosystem and then they find out about ordinals and they find out about Bitcoin and it just gets people out of their comfort zone a little bit. And I guess ultimately that is, it is a good thing, right?
100% absolutely and it's created a foro ray it's created like some sort of movement in a stagnated market where nothing was happening and
Hopefully, when things settle down, I'm sure there's a lot of money which is locked in and the last thing that you want. I've gone through that process. I've had my transactions stuck on BTC network for six, seven days, bro. So you can imagine the anxiety.
And that was in the early days as well. So you can imagine that content. The capital can be right now. Is it? Yeah, I've got two minutes. Well, two more. Two ordinals that are stuck that I bought yesterday. They've been in for like 16 hours now, I think in the men pool. And they were sent at 192.
sats per v byte and the fee has not dropped below 350 any blocks since then. So they just keep getting kicked further down the line. And how much did you pay for those fee to start off with? The fee paid was 192 sats per v byte. How much is that? Oh, I don't have any idea. I don't know how many v bytes it was, but that's
it was probably like 40 bucks or under bucks or something like that. It was for a mint so like they were not they're just delivering something that was minted so it's not of any urgency it's just we did think we paid enough to get it there in like a few hours I guess it ended up not being the case. I just I checked them
about what the fees paid were and it says 190s has pretty bad. Yes, the worst experience ever man when you get your transaction stuck six days I could go to sleep six days like you know until like and it was funny though as well because I needed like it would like the time between Bitcoin when
when there's four happen between Bitcoin cash and Bitcoin. And what happened was there was a time when Bitcoin cash actually flipped Bitcoin and then it went like you know 2.4.7 x.
Yeah, it's amazing to even think about that happening at this point, you know, for anything to flip their coin. Bro, it's done it. And I was like, and I was like, okay, so I need like send my big point to crack in and then, you know, get that can
I don't know what the hell I wanted to do, I can't even remember. So I wanted to send my BTC to Kraken and if I would have swapped my BTC to Bitcoin Cash, I would have had one BTC but I would have been like 5 BTC because of the whole
thing, the fucking thing never ended up going there for six days. And then by the time I came back, sorry, by the time I transaction came back, Bitcoin cash was minus 27% from the whole process obviously. So in six days, we went all the way up, I was like, now I'm going to get it now.
I'm gonna get it now, I'm gonna get it. Then it was five times, then four times, then three times, then two, then one, then half of the like damn, I missed. - That's right. - I missed that shade of the century. - I think that, you know, already the first PRC 20 checkpoint out there, like the one that started the whole thing, it's like,
I think it touched $25 a token earlier. I think it's touching those prices because nobody can sell it because the fees are so high. We're definitely watching some bubble at the moment. It'll be fun to watch it play out. We'll see if those inscriptions I've minted ever show up. I'm sure they will.
We have our friend from last week. What is up man? How you doing? Easy, easy, Jacob. Hello, hello. I just I heard a specific thing that just made me want to come up. You're so bad that like believing anything could flip Bitcoin.
And I just, in my head, I'm screaming. Ethereum is gonna flip Bitcoin. It may not be today. It may not be tomorrow. And it may not even be this year next year.
I, in my heart, truly believe.
The platform in which people are going to interact with. It's where smart contracts live. It's where defying NFTs popped off. It's where, you know, count abstraction is going to be
done with EIP was it 4337 and like just so much more. Just right, Ethereum layer 2 scaling, all this crazy stuff that's happening.
I'm not exactly an ETH Maxi, I'm a technology Maxi and when I look at where the tech is, I just see Ethereum, but yeah, that's just me. I couldn't agree more, dude. No, I don't think that that's a weird Maxi look. If you think about how people are buying
buying what they're buying and why they're buying it. People buy Bitcoin because it's a store of value roots and build this such or people believe that it'll be a store of value and people buy every other token almost just speculatively but people buy East because they need it for gas. It's the only token I've ever purchased for gas ever.
So that means it's the only one that is being purchased for a use case at the moment. I mean, on the scale that it is anyway. So like, you're probably right about that. You know, and I don't mean like it would be impossible for ETH to flip Bitcoin in terms of its market cap.
I think it's difficult for anything to flip Bitcoin that has Bitcoin's use case is my point. Not like for Bitcoin. More like for Bitcoin cash to put Bitcoin like why would Bitcoin cash for Bitcoin right it seems funny that it ever did but it was speculative. If you're in the same with the use case right.
I just always beat myself up because every time I fade a shit coin or an NFT project that popped off, I had a friend who was trying to get me a doodle and he was like, "Bro, I'm gonna mint this, there are government is on this date."
I have an extra one, I'll give to you after I mint it. I'm like, "nah, that project's gonna fail." Doodles popped off. I had faded Zuki. I had faded Doodles. I had faded Pudgy Penguins. I had
I hope you didn't fade Pepe bro. I faded Pepe I talked so much shit about all of my friends buying into it. Yes preach me too
I did buy it. I actually preached first and on e like three weeks when Pepe was literally on less than 100 million market heaven. I got them to buy it as well. Then they sold on the first leg. So I don't know.
Here's my turn. I'm not in a position to play these super speculative plays where I feel like it's either a zero-something game. You either walk away with nothing or you walk away with a life-changing wealth.
That's too much. You know, Jacob, I totally get it from my friends and I totally understand. You know, I've been in this industry for 10 years, right? And I've gone through all these different ebbs and and flows of this and I've seen cycles. I've seen super cycles and I've seen Michael.
and micro-synchers. I've gone through all of that. When I've seen the whole concept of Pepe, I've seen something which I haven't seen with anything else before. It was like a movement from the... It was like a...
something called user generated content and this is something which everyone dies for, you know, in terms of enterprises. They die for user generated content and I have never seen user generated content in three, two, three weeks, like I've seen
So when I went in and I looked at the whole thing, I realized that whoever created the smart contract, they satoshi nakamoto it basically. And as soon as I looked at the variables of satoshi nakamoto smart contract where it's for the people, by the people, no one controls it.
distributed like you know according to fair distribution all of these and then when I when I like correlated with the mematics and the fact that Pepe is like practically you know interwoven into the genetics of the internet I was like dude this is going to create some
something, you know. And so it wasn't really like a bet on shitcoin if that makes any sense. But I love that you bring that up about user generated content, because platforms live and die by it. It is TikTok, YouTube, shorts, Instagram,
Everything you think is popular is built off of the back of user generated content. And even with the project that I work for, it's like our whole goal is to create an ecosystem where users want to create user generated content.
goal for a lot of things and I feel like where blockchain kind of like got it right is user generated content isn't necessarily always like right it's it's not always a YouTube video it's not always this or that user generated content the sense of like the blockchain is like
Hey, I created this financial tool. Hey, I created an AVE fork that does something unique and specific. Hey, I did, you know, XYZ. And I can definitely see how Pepe is not seen as a shit coin in that sense. It's seen as like a user generated content attached to it.
I've written a thread today, a very long giga thread. If you go on my profile and if you go and check the pin tweet, it's there bro. Have a read of it and it'll give you a better context of
of why this search and this meta change or this paradigm shift is happening and what's the how deep it goes like you know but one of the stories that
will in this environment which is changing at a
astronomical speed, you know, and I've been like discussing these
things or these possibilities of technology technological shifts. We've been talking about how technology is going to like thousand X from
from the way we are used to dealing with it. And I'm sure like you was on one of the conversations when we was mentioning AI and you know all of that stuff. And if you look into the culture of humans and if you like look into the
context of mematics, which is a study of expression and stuff. It will make sense. And this paradigm shift is, every time there's a paradigm shift, there's always a reactionary, it's always like a
reactionary aspect which creates the paradigm shift in the first place. And I think in this case there's been stagnation, there's been exploitation, there's been lies being told
There has been like the business model has been very, has not been very community centric. It hasn't been empowering the community even though quote unquote it says that it's empowering the community.
We've also discussed on our community calls numerous occasions that the way we've got the world right now and the way the whole system is running currently. It's not sustainable and it's going to cause us more grief than actual bliss.
And we have the control over what future we create and sub to us as citizens of the world to make the correct informed decision so that we can empower each other. And we've come to these conclusions that moving forward,
You have to work as a singularity if you want to improve this. But we are like, you know, learning in a society where everything is introverted. You can't even discuss anything with your co-worker let alone, like, you know, the human race as a single flipping unit. And that's horrible. I think
Blockchain enables us to give us this understanding of humanity like the way we'd never had the opportunity to do that. But again, it gets corrupted as we go into that journey and keep getting distracted by different nuances. But eventually a point comes that we have no choice.
choice but to deal with the situation heads on. This new meta or this new meta paradigm shift of community being the center of everything. That was the whole reason why we came on blockchain in the first place because we were sick and tired of being exploited as a
as being controlled in terms of our finances, in terms of our ability to control our data, ability to transact freedom of transaction, freedom of holding your own finances and all that. And the fact that you're putting your money in and you know your money
is being used to make money for everyone else but you like that was the whole reason we came on to this space and then the same thing started happening and then people started tribalism started then we got this maximalism happening where we see all of that stuff
be like you know created into different segregated factions. A point will come because when it comes down to like using technology the end user don't give to how can I say
nicely they don't actually care about what actual technology, what gigabytes, what frames per refreshing, per screen, per like what DPI the screen is, what quality of battery you've got,
WiFi system as long as the thing is moving, it's the fastest, the best, that's the end. That's what the end user needs. And I think a point will come that this industry is just going to create products which will be usable for the end user. And it's also giving us
as participants of this industry to start focusing on doable products which can change this world and make it better than rather than just create a facade where everyone is thinking that they're going to make money and like you know and everyone else can just destroy themselves
Don't get me wrong, we all want to make money, we all have to survive, right? When we do our IRL jobs, we're making money as well, but it's important to have your ethos aligned with whatever you're doing to make money because there's so many non like ethical ways to do making money as well, isn't it? But we don't do that because our ethos are not
aligned towards it. So these are the some food for thought for for everyone to like process. Jacob go for it. I love that you bring that up because I don't think that blockchain technology is about making it big, making it rich. It's about giving financial tools and giving the tools
that were otherwise gate kept from the everyday person to them, back to them. So like, I think a great example is the way that our financial institutions have been set up. Credit card companies can charge you 25% on the rate of return
And they're making 25% on their rate of return. That's guaranteed up to 25% whereas you know a high interest bank account is gonna give you a fraction of a percent. They have set us up to live in cycles of debt. They gate key
the knowledge on how to create multiple streams of passive income. And then they set up tax loopholes that allow for you to use assets as collateral for a loan where most people aren't taught these things. Most people aren't taught. You know, what even is an asset that they could
uses collateral for a loan. And I think the best example is you can use, and none of this is financial advice, please, please, please, hawk to a tax advisor if you're ever interested in any of these topics. But something I've been learning about is you can use your life insurance policy as an asset.
for collateral for alone. And so you can get up to you know 90% of whatever your life insurance policy will cover as alone. You can use that to start a business. You can use that to kick start whatever it is that you're trying to do. And what's crazy to me is this is just
you know, common knowledge in the social elite and the financial elite that they take their assets. Elon Musk being an example, he doesn't get paid, right? He doesn't pay himself and he doesn't put himself on payroll and why is
that because he's going to pay more in taxes on payroll than he would be just giving himself shares within his company and then using that asset as collateral for a loan. Now he gets a non-tappiness
taxable loan and as long as whatever he does with that money is generating a higher return than the rate at which he has to pay back his loan, the loan he just took out is paying itself off. Right, and then this is something that is done
throughout financial institutions and they use a tool called re-hypothetication where I will, let's say, use my life insurance policy to take out a loan, let's say I use that money to buy a house or a piece of property.
And then I rent out that property, right? I'm renting it out to people and while I'm still renting it out to people, I use that house as an asset now for collateral for another loan and so on and so forth and it gets to a point
where you're exposing yourself to these high high levels of debts, these financial institutions, or exposing themselves to this high debt ceiling where if at anywhere down the chain they can't generate enough money to pay off a singular loan, it affects entire markets and we
see that with the housing bubble, we see that with the way that markets have been set up. So we need smarter financial tools. I think one of the smartest thing crypto has ever done is by requiring people to have over collateralization further
So rather than taking out a loan higher than the value of the thing that I invested in, I could only take out a loan for, let's say, 40, 50, 60 percent of whatever my thing is worth. Let's say an NFP, let's say whatever the asset is. And by doing so, you're
you're putting yourself in less of a risk if that person defaults on that loan. And that's just kind of the standard of crypto, whatever platform you're on, AVE, Curve, Compound. These platforms are already, in my opinion, more sustainable than our traditional financial
system. So we see the pushback from regulators like Gary Gensler. We see the pushback from people like Janet Yelling who in the back of the room are screaming up and down. You know, crypto is the devil. Crypto is everything that you've ever thought was non-American.
And the craziest thing to me is these are the same people advocating for worse regulations, worse financial institutional plays. And they're doing it in a way where it's keeping people from the tools that allow them to earn passive income. If I could earn
15-20% sustainably on a project within crypto over the span of the next five years, I can generate passive income that way. That's something that you can set in for debt. It's way better than a high interest earning bank account.
crypto is risky, right? Anyone can take part as a validator. Anybody can be rewarded as a validator if they're willing to, you know, put aside a little bit of time, pick up on some small amounts of technical knowledge here and there, and then just have a computer, have a decent Wi-Fi connection as a
as long as that Wi-Fi connection doesn't go down and you're validating blocks on the chain, you're being rewarded. I think that the power of participation is what's massive within crypto. Is it rewards participation where in the traditional industries
If you're not rewarded based off of your participation, you're rewarded based off of how risky your plays are and how much of it you can get away with it. So, you know, the ethos and the crypto space, well, a lot of people might say, you know, "Oh, well, scams happen."
And scams happen in the traditional financial sector too. If we're going to talk about scams, we're going to talk about people funneling money. Why are we not talking about the Panama papers? Why are we not talking about how people are
taking money and using tax loopholes to take money offshore. These large businesses and companies are constantly using anything to their advantage regardless of whether it's ethical or not.
And here we are creating a system that has in it a code of ethics in which we need to follow to even interact with it, right? And that's what I think is so, so powerful.
is this bar of participation being the thing that's being rewarded, regardless on what platform it is, the power of a doubt, the power of cryptocurrency.
I get passionate about this topic, but when people tell me crypto is a scam,
I always ask them, "Do you know what money is?" I'm like, "Oh, yeah, the US dollar, money is this, money is pesos, it's the euro. Money is access to opportunity personified, whether it's physical or digital does not matter. What matters is how ethical the money system is.
the money comes from here in the United States? Oh, the Federal Reserve. Okay, did you know that the Federal Reserve has no ties to our government? It's just an amalgamation of the world's largest companies and businesses and they get to decide arbitrarily, you know, what happens to our financial institutions?
There's no governing body that the people are in control of. There's no way that you, I or any regular person can have any sort of effect on our money system. And we've just come to accept that. And it makes me very frustrated, right? Because we live in a broken system.
And I won't say that for every country, but here in the United States, I have seen the repercussions of our broken system. I have seen people who have done nothing but work hard their entire life have done.
nothing before their time and effort into their job, into their passions, and have nothing to show for it simply because there are other people abusing their access to power.
controlling other people's access to opportunity and not allowing for it. Why is it that art and artists and free thinkers are constantly the least paid and whatever field that they're in?
If you think about it like as the perception of the musician, in reality if you have 10,000 fans willing to spend $10 on your album on iTunes, let's say.
Why is the majority of that money not going to the arts?
Because people have built businesses on the backs of extracting value out of people. Whereas in the crypto space, value, the value creation process isn't based off of extracting the value that somebody else
created or from a product that somebody else built. The extraction of value comes with a participation that could be measured on chain. It comes with participation, which is this big cultural shift that I see us moving into moving forward.
I personally believe the US dollar is no longer going to be the world's global currency.
And we already see the United States moving forward with platforms like FedNow, which is a CBDC, Central Banking Digital Currency.
and they're trying to set these up so they can control people's access to opportunities.
Do you imagine how scary it would be if whatever government you lived it had controlled to not only see every purchase you've ever made?
control whether or not that woman goes through in the first place.
but then can also block anything and completely empty your bank account at any point in time.
That is an extreme amount of control. And I don't care who anyone is. You cannot tell me that that won't be used.
and control their access to opportunity because that's all money is. It's access to opportunity personified. And so when we see things that give people a very small amount of people more and more power and control over others access to opportunities, that is a direct threat.
to people's ability to be self-sustaining, to be
But I think it is the end goal, sustainability, right?
They're relying on making people passively accept that they cannot survive without these broken systems in place to use and abuse them.
And I think that's culturally where we're at is this the shift where you know it's a meme war is the best way I can put it. Whatever meme that the overall culture and society accept on and uses as
You know what's true is what's going to win at the end of the day if we can educate about crypto if we can educate about you know money being access to opportunity We can educate people on why it's important that we have decentralized systems versus
You know, a centralized money system that can be controlled by people. And this is the sentiment that's been, you know, echoed for generations, you know, people talking about how we need to get back to the gold standard. We need to get back to precious metals because there's a finite amount of them.