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be great coffee. Edinburgh. Edinburgh has horrible coffee and I'm embarrassed for them

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and food right? They had great food. But really coffee. Oh yeah, great food. Yeah, a lot of

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fantastic food. Really? Yeah. How about it?

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Welcome to Game of Modes, a weekly podcast from independent validator teams.

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Welcome to Game of Modes, a weekly podcast from independent validator teams and

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Schultz's busy defending the honour of all of Scotland as far as I can tell.

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He is. After the Schultz European tour, which has just concluded, if you didn't come to your city,

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hard luck. Wait till the next album cycle. Next go around maybe.

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Yeah, next go around when that finally releases that, what was that one called that never got

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released by that fucking shitty man? Chinese Democracy. When he finally comes out with the

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Chinese Democracy double LP, maybe you'll get him visiting your city and playing the enormous

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game outside of town. You better hope not. Yeah, there was a missed opportunity there for some kind

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of Duke fame reference, but I haven't got it. I sat down the other day and I noticed that Spinal

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Tap was on iPlayer and I was like, I kind of put it on and was just a joke. Just in the living

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room. I was like, Spinal Tap's on and put it on and then just end up sitting down and watching the

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entire thing. If you catch that movie anyway, you're watching the whole thing. Yeah, exactly.

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You see the first two minutes and you're just like, yeah, this is the greatest comedy ever made.

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I had the same thing with everyone. I watched Fight Club this week, too. Same thing. It was

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a ston and that movie for some reason, I don't know. Anytime that thing's on, I just watch the

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whole damn thing. There are some films that just have very good natural pacing and you just start

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watching. I find that with Saving Private Ryan, obviously because the first scene is so dynamic

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as well, the way it's shot and everything. The first scene is a fucking hour long. It's like maybe

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an hour before the pace drops and then I don't even know how many times I've watched the first hour

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of Saving Private Ryan and then the first time the pace drops just been like, holy shit,

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if I just been sat here watching Saving Private Ryan again, I'm going to go do something else

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because I should be aware. Whatever the fuck it is. There's a bunch of movies. Blues Brothers is

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always like that for me. After that time, I always watch it. Blues Brothers. Blues Brothers. I don't

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know. It's just from like Childhood or something, but I watched that when I was a kid and I know

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that whole damn movie. I can't sit through it. Really? It's also a Chicago movie, so maybe that's

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maybe that's part of it too. It's been very long, I think. Yeah, is it? Yeah, it could do with a

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little, I couldn't even tell you how long it is. There's something about it that I just can't sit

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through. Like the humor doesn't doesn't hit for me or something where I just have to like,

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I've seen it. I've tried to push through it each time I'm like, nah, fuck this. Really? Yeah.

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I think it's really good in Bad Boy Bubby. Is that a real movie? Yeah. 133 minutes. So

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Blues Brothers is only just over two hours long. Waking Fright, Cracking, Pacing on that one.

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Very hard to not sit through that. Mastering Commander. Don't know how many times I've thrown

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that one on and then just before you know it, you've got the, what is it, Boca Rini,

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Chalo and Violin, Concerto. I don't know, D'you at, I guess, that closes out the film and you're

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like, oh, how did we get here? Anyway, I can tell you one time, this is vaguely related,

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that I was done wrong going to the movies. I want some friends to go see Les Mez, but they

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didn't tell me what it was beforehand. They were like, it's an action flick with Hugh Jackman and

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Anne Hathaway. Like what can go wrong here? And I didn't look into this at all. Les Mez is of

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course like a play and it's like three and a half hours long. So like, and the Wrestle Crow,

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I think they named those three off and they're like, it's an action flick, it's gonna be awesome.

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That's like the longest movie I've ever sat through. I was like, what the hell? How are we,

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what? It's the really brought me to this. At least it was my warm piece or something.

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So was it Wrestle Crow that's in the continental? Or was it someone else?

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No, he's not in the continental. Are you thinking about, are you thinking about,

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what's the other, the Aussie one? Mel Gibson. Eric Bam? No, no, it's Mel Gibson. Is that who you're

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talking about? Oh, Mel Gibson, yeah. Yeah, yeah, yeah. Yeah. Mel Gibson's Australian. Yeah,

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I didn't know that either, actually. I think I don't know that Mel Gibson was Australian.

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I, I, no, I didn't really recognize it. I figured he was Australian for his historically accurate

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rendition of William Wallace. Well, I mean, what, to be fair, I was turned out in the end of his

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career when he kind of scandalized himself as, as a bigot. You're like, hey, bigot Australian.

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There we go. Checks out. Sorry, no. I don't know if he's from the 60s.

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They did the, there was a lot in this video. I can't remember what it was.

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Russell Crowe is the fighting around the world. Mel Gibson's the anti-Semite. It's that way.

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Yeah. So there's like this video of Russell Crowe like cruising around on a boat fighting everyone.

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It's like a, yeah, South Park. Oh, it's South Park. Yeah. Yeah, South Park. They have a theme,

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a theme tune as well. I can't remember it, but I remember it ends with fighting around the world.

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And yeah. So, so have any of you seen that bad boy, Bobby? No. Oh, it's a wild movie.

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Is that a real movie? Yeah. It's a, so I saw this movie when I was on SBS, which is like our

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government's free channel thing that they just put all this wild shit on in the middle of the night.

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Like it's got all the international movies and shit. And so I was like 13 or so. And I had a lot,

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I was like dismantling a fucking TV in my bedroom at like two in the morning. And this was on SBS.

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And my life was forever changed. Bad boy, Bobby. Damaged after this.

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Is this another one? Right. 15 seconds like drill, tweak kind of length. Like why

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USA is shocked by this film? Well, looking at the front page of bad boy, Bobby, that's kind of what

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I imagined drill looks like. Is that like an actor? It's kind of like, I haven't watched this for a

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long time and you can't really explain it at all without ruining the plot. But basically, there's

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like this guy and he's like, I don't know, 40 or 50. And he's like living at home in this apartment.

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And he's never left it his entire life. His, his mum is like kept in there. And let's just say he's

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a little bit fucking weird. And then he finally kind of like you before you became a cosmos validator.

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Yeah. And then you just, you just like in your parents' basement, not allowed out, you know,

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whatever. And then, you know, everything changes. All you had to do is start making some blocks,

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right? Yeah, make them block, man. The blocks must go on, right? And so one day he like

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discovers that he can get out of the apartment and that shit exists outside of there. And it's,

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you know, it's his Ferris Bueller's day out. That sounds actually kind of fun. Yeah, it's kind of

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fucked. Like, from a cursory glance, the Wikipedia page, it sounds fucked up and weird and

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quite possibly the sort of thing that I would actually go watch. So I'm going to maybe go and

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watch it. Well, I mean, yeah, there's, there's choice sentences in here, like he and his mother

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regularly have incestuous sex. But Bobby goes to the pub and fondles another woman.

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Well, after all that time, yeah. There's just, you know, there, you know, I think you get

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damaged just reading the plot on Wikipedia. This actor's been some fucked up movies.

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Anyway, I mean, it's a wild movie, but can recommend, I guess.

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All right, I'm watching the trailer. I'm checking out for two minutes.

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Okay, well, I'm going to report back on that. This is, this is, this is my homework for this

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week. I will watch it. Right. Yeah. In the meantime, well, Shultz is doing that. Let's do

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drill tweet for week. Noel, did you go last week? Did I go last week? I think you, you chose last

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week. Didn't you say? Oh, yeah. I chose. So surf, I think it's you. All right. Say when other ones

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are in the back, right? There. Oh, you went too far. Oh, fucking earth legs. That's the end of the

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bike. That was speed of light. Like though, no, I, that was, we got delayed. You got to back it up.

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Okay. I'll go slowly. Okay. There. Wait, we are really lagged. Okay. So life hacks is the section.

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Do you want left page or right page? Right top. That pick a good one. As usual. Okay. This is a

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good one. Buffs and showers are fucking stupid. Here's what you do. Get one of those big rotisserie

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ovens and rotate inside of it until you're dead. Okay. That's fucking great.

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Feel like it was not in a good place when you wrote that one.

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That one feels more like a cry for help than the, the Taptic comedy, doesn't it?

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I feel like you just, just gotten back from a viewing of bad boy, bubby.

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Yeah. Just climbed straight into the rotisserie oven and that's, and then that's how the police

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find him. That's right. So I had a message from, from, from friend of the podcast,

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who I went docs asking for tax advice the other day.

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He knows where to go. To which I obviously replied, I'm not an accountant, but they're based in the

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UK. And so I sent over the, the link to the crypto assets handbook on HMRC. Issue was, I believe,

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resolved over dissatisfaction. But the thing that was referred to, I've noticed this is in our news

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segment as well, smooth segue. The reference was to the TIA tier airdrop. And I was like,

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thanks in advance. This is Africa. Like I would, I just, do you remember that from, from Blood Diamond

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when Leonardo DiCaprio, there's like, DIA. No, he said it bro after the EIA group.

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Exactly. But I was just like, I was like, is there something going on to do with Blood Diamond?

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They were like, no, it's an airdrop. But I was like, what airdrop? They're like, Celestia. And I was

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like, TIA. Like, you know the, what's the principle skinner? You know that am I so out of touch? Is

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it the kids or is it me? Am I so out of touch? I feel like that. So no, it is the kids who are wrong.

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Is the kids who are wrong? Is this where you came across the shit coin get out of jail free card?

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What's that? Sorry? The, the, the, the other rule that you posted in the, in the group chat the other day.

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Oh, again, not financial advice. Very much not financial advice. But yeah, the, what is it? The

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nil rateable value clause where you negligible value value. Yeah. Where you say effectively,

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you state that you are hypothetically selling something worthless at essentially zero cost and

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then immediately purchasing it back to create a taxable event. Yeah. It's like a tax loss yielding

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without having to do the fucking sale. It's pretty fun. Yeah. I thought, I thought it read it as

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you weren't selling it, that it was unsellable. I thought it read it like you couldn't get rid of

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this. Not unsellable, just worthless. No, both. Like you, you literally could not, you can't, you're

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just, you're disposing of this and you're disposing of this with like, you're ignoring it. Like, I'm,

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like it's never going anywhere. So therefore, I'm, I'm, I'm creating this loss, right? Not,

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not that you're actually liquid. If you sold it as a loss, it'd be a loss, but I thought it was more

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like it's fucking useless, right? So in Australia, you would just declare it as lost or, or nil value.

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Like this, this stuff on my ledger, I just declare as nil value as unsaleable.

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Do you open a sliding glass door and just shout it out to the Australian countryside?

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What do you do? Do you have to drive four hours for something?

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Drive four hours to the front of my driveway and just shut the door.

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I declare this worthless. Fuck this shit.

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Fuck these shit.

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We actually did segment on the podcast, like what, what ledger is now thrown out into the

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the outback? Can you hear me, Rama?

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Rama, why have you forsaken me?

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This is, this is worthless.

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I'm pretty sure I once just deleted a private key and then right next to it on my,

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on my balance sheet, lost.

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I think that's fine. If it's useless, then yeah.

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There's a whole different, the, the provisions for, um, lost theft, fraud, um, and loss of

140
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private keys is like a separate clause here. So the, really?

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Yeah. Yeah. Yeah. So, um, I think because people were just being like, oh, I've lost my private

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key. And so there's like a, there's like, I think there's like an element of it that's like

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mildly punitive. So it's like, um, it's not so attractive to just be like, oh, I've lost my

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private. I mean, you pay a, you pay a fine for that type of idea or that there's some sort of

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I think you pay some nominal value, whatever happens, whereas the, because they want you

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to instead just do the nil rateable so that you actually have to declare everything and

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account for it and write everything down. So I assume that that's why the, yeah, vaguely remember

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like citation needed on that one. I have to go look, I'll go look it up for the totally tax time

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segment in next week's show, which I can say confidently because next week's show I won't

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be on because I'm going to be on a train. Actually, I'm not going to be on either because I'm going

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to be on a plane. So we might have to. Barstle on. Yeah. We might have to.

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Barstle on. You guys might need to bring in another bringing some pinch hits. You need another

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Brit and a yank. Yeah. That's how it was. Round it out. Huh? Huh?

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Both the Frey and I will not be on next week. Oh, she she. Oh, that's right. You're at the

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conference. Yeah. Actually, let me double check that. Yeah. I mean, you should probably won't

156
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be watching next week anyways. I landed. I landed 7 p.m. so I ain't gonna happen.

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Yeah. Is it Cosmoverse next week? It is. Yeah. So we're going to like chat conference when we

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should be going to Chimdosh. Yeah. Is it maybe? I don't know. Are we going to Strongdosh conference

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while everybody else is going to Chimdosh conference? Is that what's going on? I don't know.

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There's no Lambo's at each. I know that. I either. Right. Okay. Yeah. Everybody achieved.

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It's all a strong elsewhere. I think I heard that there's an ice cream truck at one of them,

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which is better than a lambo if you ask me. There is ice cream truck is believable is attainable.

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Right. You know, have attainable goals. It is. Yeah. The feels like a very long time since Cosmoverse

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was in 2021. That was a, I mean, it has been a long time. It has actually been two years. So

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I'm excited. I think it's ever had like offices. It would be in a warehouse and in one corner,

166
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there would be an ice cream truck and in the other corner would be like a beer truck.

167
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Now, when you say in the corner, do you mean like an opposite side? So you have to like go

168
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walking between them to exercise, like to burn it off as you know, no, no, no, no, between them or

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no adjacent corner. So what's the. Obviously, it would be a red brick warehouse with the

170
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cascading roof type thing. And there would be like exposed brick on the inside with a very

171
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hipster concrete floor, but there would be like with black trim windows, a office in one side of

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it covering one length. And then with a mezzanine on top of that, of course, with couches and a TV.

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And then on the other side of the building in one corner, there would be the ice cream.

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You thought about this awful lot for the match. Yeah. You visualized this a little bit.

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And it's like the other corner on the opposite side, there would be the craft brewery truck.

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This is like the most hipster coffee shop I've ever heard of.

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Yeah. And is this a real place or is it, this looks, it sounds like I have one of those passage

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videos, those demo videos. This is from my, this is from Nells Imaginarium.

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You talking like those graphic designer guys, passages, as you're saying?

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Yeah. Yeah. Yeah. Do you see that little demo video where like they have like the little hoops

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that float around, everybody's like floating around like this. Was anybody floating around

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as a hoop? No. Or is like, it's like a real thing. Did you have, did you have, did you have legs

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you floating around like a bubble? To be fair, Nells office is probably more real than passage. So.

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That's fine. I like it. You can spot the passage validators because they didn't laugh. Oh,

185
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wait, there's none of us. No, I am. I'm still in it. Yep. I'm still in it. I think it's big.

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You're just cutting. You're just cutting. We're letting you, we're just letting you cut in the

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corner. If it, it's, if it doesn't make any noise, it's fine. Once it starts alerting me on

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shit and like it gets in pager duty, these are not, I get a single page of duty notification.

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It's kind of immediately wound down. Right. I get it. I get that. So as long as there's no need for

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racing anymore than one, seven, eight months. Yeah. Right. Right. If I can, right. If it sits

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here and we'll just handle itself for years, it's fine. Whatever it wants to do. Basically

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kind of ideal parenting strategy. That one. It is. It is. It's exactly what it is. Sit in the corner.

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Okay. Let's go back to whatever we were doing. Cool. Cool. Cool.

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Um, still talk right. Throwing raw bones at it once every six hours. Basically. It's all right.

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So which are, do you want to do some news? Do you want to talk about news?

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Sure. What do we got? Let's, let's, uh, let's rephrase that first one though. If you're going

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to do that, Dr. Frey, just, uh, maybe don't be so like disclosing of the thing in brackets.

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Why? I don't know. That seems pretty entertaining to me. There's like a median post all about it.

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Oh yeah. I don't know. Is that one of your clients? Wow. I didn't realize that happened.

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That's outrageous. I'm not surprised too. Wow. Okay. So ST Atom,

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Depegged by impatient validator showcases the power of the exit liquidity module.

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A prominent Cosmos validator SG1 decided to unload 430 K atoms through the liquid staking module

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in around three hours, showcasing the fluid dynamics of the module.

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Suffering substantial impermanent loss and depegging the ST Atom token.

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They then left through Binance CEX with 260 K atoms worth of loot.

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That is quite the fucking loss. Wait. So, so, so through impatience and stupidity, 430,000

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turned into 260,000. Yeah. So 200,000, uh, atoms worth of impermanent loss is my,

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what is that? That's 1.4 million. That's, I'm kind of impressed. That's seven bucks, right?

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That's 50% like slip. I just, you must be pretty fucking bearish on Adam to do that.

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Like wait the 21 days to, to like, but I guess people are going to know that you're

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unbonding and there's a lot of people unbond and sell all the time.

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But they wonder about that. That's a big number. That's a big number enough that

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maybe that's going to cause additional price action that might affect you or

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Would it, would it cause a 50% slide in the, in the price? I don't think so.

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I guess it depends whether you're control freak or not, right?

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Uh-oh. It just seems like, I mean, it's a really weird, it's a weird set of transactions

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without understanding the idea of liquidity for a validator. So prestigious, old.

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Yeah, I guess so, but it's a really, it's a weird step to be able to just dump that much

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in a very short period of time without understanding, oh, like maybe this doesn't exist.

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Maybe these liquidity isn't there. Maybe we can, some, I don't know, was that like,

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we was automated in some sort of sense.

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What the fucking big red button?

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Well, it took over three hours. So if it took over three hours to be able to do,

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I wonder if it was automated or they, but they scripted it out or some sort of structure to

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be able to move that where they weren't even looking at the DPEC, right?

226
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They were just doing it over a short period of time.

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I mean, it sounds very lucky.

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Who is the winners out of this transaction then? Like, who absorbs that extra 200K?

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That must be the LP, right?

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Yeah, imagine, right?

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Yeah. So it's a big win for the, for the LPs.

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Is it?

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Million bucks, yeah.

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Wait, why, help me out with that. Why would that, why would that slippage?

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Why would that item move?

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Well, I mean, ST Adam to Adam is a one to one pool, basically, with one of them's got a

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fucking 21 day unbond time. So if you lose 200,000 Adam through the pool, you've effectively

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just gifted someone a million dollars or the public cash flow.

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Well, yeah, people are being right. I mean, I don't know. I don't understand DFI, but I understand.

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No, it doesn't. It doesn't matter. It's slippage in the pool. There wasn't enough

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liquidity in the pool and it slipped. So basically they got, you know, someone got a lot more

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ST Adam in exchange for a lot less Adam.

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I see.

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They've gained an ST Adam through the pressure.

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Probably arbitrage bots that got the most of it, right?

246
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No, it would have been the liquidity.

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If they're folding in, it depends. If they did it all in like one trade, then it would be like that,

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that mad kid that bought one Juno for like $3,000 or whatever. Do you remember? Like back in the day.

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But if it was...

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Wait, hold on. What? You can't just drop that and...

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What? Someone did that?

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Would you remember when Juno got first listed on Osmosis, but before everything was stabilized

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and it was in the UI, somebody was trying to front run the pool and they just submitted a

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trade blindly and they swapped 105 Adam for one Juno or something like that or 0.1 Juno

255
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because the pool liquidity was so low and so it cost like...

256
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Maybe it was only like... I don't know what the math would be like. Maybe it was only like a few

257
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hundred dollars per Juno, but they basically just evaporated about $8,000 worth of their money.

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Wow.

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It was the subject. When I'm into the first NFT on Juno via a custom contract, it was just a one

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and one NFT, which was the Elmo apocalypse face looking with all of the screenshots of that

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guy's telegram messages as they realized that they just evaporated like $8,000 or whatever.

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If you could find that for me and share it, I would love to see it because I feel like I've

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missed this really important piece of history and I need to be learned.

264
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Yeah. I'm sure because the NFT is of course just a JPEG and because it's really hard to index

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NFTs and it's lost the fucking mist of time on the Juno, I'll go on my hard drive and find you the

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JPEG on my hard drive because it's actually easier for me to do that than it is to find it on the

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blockchain you'll see. Thank you. I appreciate it. NFTs, though, they're going to be around longer

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than us, though. They're going to live forever on the blockchain. Anyway, that's kind of funny.

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I think that's quite funny and spicy news pieces, isn't it? That.

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It does show how little liquidity is in those things too, right? Because I mean,

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it's a lot of money, but it's not like in the larger scheme of things, it's not like an insane

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amount of money. Yeah. I mean, it's also, I mean, like somebody just said, it's quite a

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bearish signal, isn't it, from one of the biggest validators to be like, yeah, we're just going to

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liquidate hundreds of thousands of atom at literally whatever we can get for them. Fuck

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the consequences. Yeah. Yeah. What the fuck do they know? What the fuck do they know? When was

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that? Was that this week? Yeah. It must have been, huh? Yeah. Cosmos has been on a bit of a,

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it's down 5% for the week, but not worth it to sell it 50 cents on the dollar. Yeah, exactly.

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Rahman said, by the way, it's not one to one, it's one atom to 1.2 ST atom.

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You know, just to be 100% accurate. Yeah, we get it. It goes up over time.

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Yes, you know, you know more than we do. Yes, we've established that over 81 episodes. We get it.

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Hold on though. We got to take a moment and appreciate this. That's why investing in

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ST atom is the way to go, sirs. Listen, this is not financial advice, but by now, it'll be more

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later. The ratio will only keep increasing, boys. That's the way that's how math works.

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I'm just surprising that it's already 1.2, actually. I think Stride's been available for

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about a year now, right? So like over time, that'd be about 20%. Yeah.

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Yeah, okay. That's a fairly long time. I didn't realize. I mean, honestly, it's a year minus

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the amount of time it takes for the interchange security validators to actually do upgrades.

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So it's more like 363 days, maybe. Well, in that case, that was a good dig.

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It's a salty dig. Didn't fucking pick it up. It's salty as fuck.

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It's just like, oh, do we just sound like bitter old spinsters if we jump on that one?

291
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Yeah. I don't remember upgrades taking that long in the past, but it could be wrong.

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I mean, I remember. Do you remember left it? No.

293
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Do you remember giving a shit about upgrades? Anyway,

294
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no, we had to run one this afternoon. It was very different network, not cosmos.

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So, you know, actually, this is a validator podcast. We can actually say networks outside of

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those. Oh, yeah. All our news is cosmos based. Wait, wait, but is this publicly released now?

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I think it is. The upgrade that went through release groups today.

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Yeah, I know that. I think so. It wasn't even a hard fix. There was nothing security related.

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No, it just wasn't a schedule release. Yeah. So just to clarify that it's actually the slippage

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was more like they lost about 100 out of 100,000. Not 100,000. That's it. Well, how? Okay. So if it

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goes from 432.60, that doesn't equal 100,000, right? No, no, but if the ratio is 1.2, then actually

302
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to swap it is 360,000. Oh, it was 460. St. Adam. Is that what it was? So they would have

303
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moved their stake from Adam to ST Adam, which they would have ended up with about 360,000

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ST Adam and then swapped ST Adam to Adam, losing 100,000 Adam and then going to Binance and selling

305
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it. I wonder if they actually shifted the price when they sold that much.

306
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Interesting. Reading this Twitter thread, apparently arbitrageers pulled it back up

307
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basically immediately. So that would be market makers, sir. Hey, I have no fault in people

308
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that are doing arbitrage. I mean, I think that's a valuable service. Yeah, I love the market makers.

309
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Thank you for your service. Is that just another word for groups that lose money?

310
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I think they are groups that lose money that are funded by foundations. Yeah. Okay. Well,

311
00:29:15,760 --> 00:29:20,720
maybe they're shorting it somewhere else and then it's all just part of the same glorious,

312
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beautiful circle, Jack. Well, I mean, some of it's part of it's part of it's like arbitrage,

313
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part of it's hedging, part of it's reimbursements or reward for providing the service.

314
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Part of it is like taking a hit and then rebinding it over time. Yeah, I'm sure they do a lot of

315
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things, but ultimately it keeps the price more or less more stable. It's kind of like an interesting

316
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concept really to like, I can't imagine like, and I think this will not really come as a huge

317
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surprise to anybody. I think I'm probably the more risk averse end of the validates on the show.

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But I can't really imagine being in the shoes of, yeah, like a market maker where they have to make

319
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that kind of commitment over a longer term period to an asset like crypto asset and be like,

320
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this is fine madness is total insanity as a business model. I mean, I know they make money and

321
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clearly they're smarter than I am because they do that and fine, whatever, you know, but it

322
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spicy meatballs, but I guess no, no, nothing ventured, nothing gained, right? Or maybe you

323
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can maybe you just have to be so fucking absolutely gone to the tits with institutional money that

324
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you're too big to fail if you want to actually be a market maker, right? Like everything,

325
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everything doesn't look so stressful when you've got 100 million in your pocket. But

326
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that's right. Yeah, I assume that they're in that rarefied atmosphere. Anyway, so

327
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I'll just bend down here commenting on the on the tax advice you received this week,

328
00:31:00,400 --> 00:31:08,400
probably from Dr. Frey. No comment. No comment. Don't don't hand out tax advice. Go and find a

329
00:31:08,400 --> 00:31:15,840
chartered accountant that has read the UK government crypto assets manual, just like I have. Anyway,

330
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before we move on, I have a quick story for the week. I haven't been to the Royal Show in Australia

331
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ever, which is like, you know, the show is like, you know, how you have the fair or whatever,

332
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like the big show that comes to your region. So we have some really big ones in the capital cities,

333
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like Sydney, Melbourne, Brisbane, that type of stuff. Never been to one like all the kids used

334
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to go there when we were young, because I was like poverty stricken. We just sat at home and played

335
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with that sticks. Anyway, is that metaphor? Play with what now? Play with that dirt. Anyway,

336
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so when I was walking to the gym the other day, I walked past the showgrounds, which I didn't

337
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even realize was showgrounds. I walked past these fucking things 100 times. They were

338
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setting up the Melbourne Royal Show and I was like, oh, shit. Is this like a farm show? Like,

339
00:32:15,680 --> 00:32:21,520
is it like livestock? Like that? Or is it more like technology? Is like a World's Fair? Like,

340
00:32:21,520 --> 00:32:25,680
what are we talking about? No, it's like, you know, they got spinning mechanical spinning things.

341
00:32:25,680 --> 00:32:30,400
Like amusement park shit. Yeah. Yeah. So they got the amusement park shit. And then they've got like,

342
00:32:30,400 --> 00:32:36,000
you know, bull showing and, you know, like a county fair. We were both showing.

343
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They're way they're nuts. And then they have like, you know, horse jumping and horse showing.

344
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And so it's like a it's like, it's like a, like we were kind of like a county fair. Like you have

345
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a lot of different livestock type of things going on, like whatever it is. And you might have like,

346
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like, you know, like by us, it's like a demolition derby. And then you have a covers band playing

347
00:32:59,280 --> 00:33:04,400
Lenskinner covers. Exactly. Right. And then stage collapses halfway through their step. And it ends

348
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up on YouTube and everybody in countries where they have like, you know, legislation on how you

349
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can and cannot rig a stage at a mass event, a mass, mass spectator event, are like, oh my god,

350
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how are they able to build it? So poorly that it fell on the crowd. And then people are like,

351
00:33:21,760 --> 00:33:29,120
Merrick. Okay. Yeah. Okay. So you want to, you want to say next bike still on double backies and

352
00:33:29,120 --> 00:33:36,160
that type of stuff. Anyway, so you get to punch a kangaroo or anything? No, actually, I looked

353
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around and they didn't have one of those punchy things either that you get the numbers.

354
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Haunted house. Haunted house. Yep. Oh yeah. There you go. Yeah. They had some seriously sketchy

355
00:33:46,400 --> 00:33:53,280
looking spinny around mechanical things that I was not getting on. But so you guys got the

356
00:33:53,280 --> 00:33:58,160
corn dog over there, right? It's like the we got the corn dog. It came to the US. Yeah.

357
00:33:58,160 --> 00:34:03,040
Frankfurt on a stick dipped in batter. That seems like a US. Yeah, that has to be embedded here,

358
00:34:03,040 --> 00:34:08,160
right? So they have. Oh, you know what? I've heard that it's actually invented in Oregon.

359
00:34:08,160 --> 00:34:12,800
Oh, okay. I mean, no state wants that. So if you want it, sure, you could take it. But it's that

360
00:34:12,800 --> 00:34:20,720
it's got to be a US state. It's corn fucking mash wrapped around a process fucking. Yeah,

361
00:34:20,720 --> 00:34:27,840
it's definitely a US thing, right? Yeah, I'm glad it made it. So we I got one right in Australia.

362
00:34:27,840 --> 00:34:36,240
We call them a Dagwood dog, right? And I went up to this sketchy looking fucking like thing on wheels.

363
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And like a hot dog cart, you mean? Well, yeah, but it's a big one. It was like a hot dog,

364
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fucking Taj Mahal. Yeah, and signs and shit right? Yeah. Yeah. But the signs that and this

365
00:34:48,160 --> 00:34:55,920
should have been like, you know, some sort of warning sign that all of the prices were missing

366
00:34:55,920 --> 00:35:01,440
from from the signboards, right? Like they had spots to put prices to write them in, but there were

367
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no prices. And, you know, I was like, I'm at the show, I'm going to get a Dagwood dog. So anyway,

368
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I go and order this fucking Dagwood dog. And I'll make it hands me this slop on a stick.

369
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And then I just like, you know, puts out there for us to terminal. I'm pretty used to just scanning

370
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that shit these days. And there was no price discussed. And I later realized that I paid

371
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15 fucking dollars for that shit on a stick. And that's about 10 US dollars. I was raped.

372
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That's about what I would expect to pay for at the county fair, honest.

373
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Yeah, that's that's a fucking $1 fucking lips and arsehole roll on a fucking 10 cents,

374
00:35:37,520 --> 00:35:41,600
please way less. Yeah, by the way. Yeah, 50 cents, fucking lips and

375
00:35:41,600 --> 00:35:46,000
arsehole. Convenience fee, right? You're not making those that lips and arsehole roll at home.

376
00:35:46,000 --> 00:35:49,520
You're out in the middle of people, you're looking at bulls nuts, whatever else.

377
00:35:50,640 --> 00:35:55,760
Getting some and you can eat those balls as well, actually. Yeah, that's a yeah.

378
00:35:56,320 --> 00:36:02,880
So another funny story on the way. So anyway, I got two of them on the way to the county.

379
00:36:02,880 --> 00:36:09,760
Anyway, I got to eating the bulls nuts and so we were we walked to this thing, right?

380
00:36:09,760 --> 00:36:11,680
Because it's like only three and a half Ks away.

381
00:36:13,040 --> 00:36:17,600
But it was a house. Yeah, you're you're in Melbourne, though, right in Melbourne.

382
00:36:17,600 --> 00:36:20,720
All right, not from your place because there's nothing three and a half Ks away from your place,

383
00:36:20,720 --> 00:36:26,720
right? My mailbox. Okay, just checking this to make sure I was like, is there you put a fare

384
00:36:26,720 --> 00:36:32,480
at the end of your driveway? Yeah. I mean, technically, that'd probably be before the end

385
00:36:32,480 --> 00:36:37,120
of my drive. It's on my property. The things you can do with a government contract.

386
00:36:37,120 --> 00:36:44,480
I know, right? The power. So we're walking to the to the fair, right? And I had some like

387
00:36:44,480 --> 00:36:49,200
apples and shit for breakfast before we left, but the misses hadn't eaten anything.

388
00:36:49,200 --> 00:36:57,360
And so we stopped by this like Polish deli on the way. And I didn't get anything because I was

389
00:36:57,360 --> 00:37:04,000
hungry. By the way, that's not a thing. Polish deli is nothing. So like restaurant? Yeah.

390
00:37:06,640 --> 00:37:11,760
Polish deli is absolutely a thing. What would what what what cold cuts are Polish specific?

391
00:37:11,760 --> 00:37:17,360
Like I don't know. And then like, you know, stuff. I mean, that's there's nothing.

392
00:37:18,560 --> 00:37:23,920
It's not called sovami, but it's like, same thing as like spec and stuff like that, right?

393
00:37:23,920 --> 00:37:27,600
Okay. The Polish have the biallies and biallies are to die for.

394
00:37:28,720 --> 00:37:30,640
And so when you go to Delhi, that would be a bakery.

395
00:37:32,000 --> 00:37:36,160
It's to do donuts, doesn't it as well? I'm not saying they don't do these things. I'm saying

396
00:37:36,160 --> 00:37:40,640
like, yeah, I'm sure there's Polish delis, but I'm saying there's nothing like, it's not like

397
00:37:40,640 --> 00:37:43,760
an Italian deli where you're like looking at prosciutto and things like that are very specific

398
00:37:43,760 --> 00:37:47,760
to that region. I'm trying to understand like what's specific. Biallies are a good example.

399
00:37:47,760 --> 00:37:52,720
It's it. That's it. But that's a more of a like Polish. It doesn't fucking matter. All right.

400
00:37:52,720 --> 00:37:57,920
I'm defending. All right, go ahead, please. It's it's it's non it doesn't matter for the story.

401
00:37:57,920 --> 00:38:03,200
What the fuck they were telling. And so anyway, they told me that they had been investing in

402
00:38:03,200 --> 00:38:11,600
ST atom when it was he pegged by some fucking mad person. They lost their life saving. They have

403
00:38:11,600 --> 00:38:17,360
to sell the deli. They owe the Australia. It was a deli. Like the fact that it was Polish doesn't

404
00:38:17,360 --> 00:38:23,440
matter. It was just a fucking deli. All right. So I waited outside because I didn't want anything.

405
00:38:23,440 --> 00:38:29,520
Kelly went inside and she comes out with this like pasty, right? You know what a pasty is?

406
00:38:29,520 --> 00:38:35,440
It's like the it's like a mince pasty, a Cornish pasty like a cornwall. Yeah, like a Cornish pasty,

407
00:38:35,440 --> 00:38:41,120
like a fucking but not from Cornwall. Yeah, it's like a piece of pastry with some mince and fold

408
00:38:41,120 --> 00:38:45,920
it over. You should know that almost no one in the US will understand what you just said. I make

409
00:38:45,920 --> 00:38:49,600
pasties often. I'll tell people make pasties and they're like, what are you saying to me? Are these

410
00:38:49,600 --> 00:38:56,320
words a pasty? Do you mean pastry? What? No, it's a pasty. It's like a rectangle folded over.

411
00:38:56,320 --> 00:39:01,680
Literally, like the definition of a good honest at the cold face meal because it was designed

412
00:39:01,680 --> 00:39:08,720
to be good and honest and eaten at a cold face. It's just fucking mits and in like it's in pastry.

413
00:39:08,720 --> 00:39:17,360
Yeah. Yeah. Okay. Anyway, so we get about halfway between the deli and the story forever,

414
00:39:17,360 --> 00:39:21,120
by the way. And the show. That's because I'm big into rockin' at every fucking turn.

415
00:39:22,320 --> 00:39:27,520
So we get halfway between the deli and the show, right? And Kelly looks, sorry,

416
00:39:27,520 --> 00:39:33,040
fucking my partner looks down at her at her. You've docked them twice, by the way. At her pasty.

417
00:39:33,040 --> 00:39:40,080
And it's like in this big chunk of mold. And then. Oh, really? Oh, you know,

418
00:39:41,840 --> 00:39:48,400
maybe a spinach. She's like worried from now on that she's going to get like gastro and like

419
00:39:48,400 --> 00:39:53,360
all this other stuff. I'm like, don't worry about it. Just fucking move on with your life. So if

420
00:39:53,360 --> 00:39:57,680
you get it, you're fucked anyway. So just pretend like you're not and then pretend it's a surprise

421
00:39:57,680 --> 00:40:08,000
if you do. You're fucked anyway. So basically, so you didn't walk back and demand another one.

422
00:40:08,000 --> 00:40:12,800
I would have walked back and been like, listen, no, another moldy one. What we did was we took

423
00:40:12,800 --> 00:40:22,720
a photo of it and then continued on with our life. Meanwhile, the messos. It's how much you

424
00:40:22,720 --> 00:40:28,880
also get the bloody, the, you know, the repercussions. So we drink some water and that type of stuff.

425
00:40:30,560 --> 00:40:33,120
You want to kind of coke really in that situation, don't you? Like full.

426
00:40:33,920 --> 00:40:40,000
Had some electrolytes and whatever you want to like fucking you want to like fully just be like

427
00:40:40,000 --> 00:40:46,160
neutralizing shit down there, right? Man, I've eaten mold all the time. It's fine. Like I was

428
00:40:46,160 --> 00:40:50,560
just like, you'll be fine. There are different types of mold though. Like penicillin is a type

429
00:40:50,560 --> 00:40:58,560
of mold technically. Yeah, from the mold. That's like, that's been not dissing the mold in Stilton.

430
00:40:59,120 --> 00:41:03,200
Yeah. So I mean, this mold is very nice. It was strong whiskey as well. Everyone eats

431
00:41:03,200 --> 00:41:10,000
fucking mold, right? Occasionally. I was like, you'll be fine. And she was fine. So I was right.

432
00:41:10,000 --> 00:41:19,280
I win. Do you win on the way home armed with the photo of the mold, we went back to the deli and

433
00:41:19,280 --> 00:41:25,120
I'm like, here's your pasty. You should probably take the rest of them off the shelf. And anyway,

434
00:41:25,120 --> 00:41:29,600
we're like, she's like, Oh, we'll give you a refund. And I'm like, how about we just swap this

435
00:41:29,600 --> 00:41:37,520
for some of those beers? So we did it work. Yeah, I got two beers in exchange for the moldy pasty.

436
00:41:38,960 --> 00:41:47,600
It works. Wow. I'm not sure that was a good deal. This reminds me of the time when I was at a bar

437
00:41:47,600 --> 00:41:55,520
and with a couple of Dr. friends of mine and the barman passed out, he had an epileptic fit.

438
00:41:56,400 --> 00:42:04,480
And one of my mates stepped behind the bar to basically like check that he hadn't like swallowed

439
00:42:04,480 --> 00:42:09,440
his tongue or something and then put him in the recovery position and whatnot and call the

440
00:42:09,440 --> 00:42:15,360
paramedics and yada yada. And it was like towards the end of the shift anyway. And they were like,

441
00:42:15,360 --> 00:42:21,440
right, we got to shut the place up and yada yada kicked everybody out. And as we left, he revealed

442
00:42:21,440 --> 00:42:25,600
he had like a few beers in his jacket. And I was like, Oh, cool, right. They gave you a couple

443
00:42:25,600 --> 00:42:34,960
of beers for helping out the man. Cool. And he was like, Oh, no, no, they just reopened the bar,

444
00:42:35,600 --> 00:42:39,600
sell me three beers, although they were kicking everybody out. And I was like,

445
00:42:39,600 --> 00:42:47,520
you just help that guy. They weren't like, hey, have a couple of beers on us. He was like,

446
00:42:47,520 --> 00:42:52,080
no, I think they gave me staff discount. And I was like, kind of seems like you help them out,

447
00:42:52,080 --> 00:42:59,760
and then you help them out again by buying their beer. I mean, you just got shafted, my guy.

448
00:42:59,760 --> 00:43:05,040
He was like, whoop. You're the one that made that negative story. He was all excited about it and

449
00:43:05,040 --> 00:43:10,480
ready to share. And then you're like, you got shafted. He's like, I got beers. Yeah, exactly.

450
00:43:10,480 --> 00:43:16,640
He's all excited. He was like, I got three beers. How did I get shafted? I was like,

451
00:43:16,640 --> 00:43:20,160
did you pay for those beers? Yeah. And he was like, well, but I would have had to,

452
00:43:20,160 --> 00:43:25,120
I would have helped anyway. Like this is my profession. I help people. And I was like,

453
00:43:25,120 --> 00:43:32,640
this sounds like a suckers game to me, man. Fucking doctors. All I heard throughout that

454
00:43:32,640 --> 00:43:37,680
whole thing was yada, yada, yada. I got a free massage and a face. So you weren't listening at all.

455
00:43:40,080 --> 00:43:44,240
That was a different. And in your mold story, I mean, really what happened there

456
00:43:44,240 --> 00:43:48,800
is that your significant other had a moldy piece of food. You slapped her in the back and screamed

457
00:43:48,800 --> 00:43:53,200
yellow low. You went back to the place and you got a free beer out of it. Is that basically what

458
00:43:53,200 --> 00:44:00,000
happened? That checks it out. Yeah. Yeah. It's basically what it's like. Suck it up. This is why

459
00:44:00,000 --> 00:44:04,320
you're never going to be a storyteller on the even say, I was, I'm sorry this happened to you,

460
00:44:04,320 --> 00:44:09,040
but you took it back and then you got a free beer out of it. Yeah. Did you eat? I didn't expect

461
00:44:09,040 --> 00:44:16,240
someone to be bitching about fucking mold. It's too sunny. They got other shit to do like throw

462
00:44:16,240 --> 00:44:24,160
shrimps on the bar. You know, that's time you could be drinking. My wife ate mold. I want a free beer.

463
00:44:24,160 --> 00:44:31,680
Yeah. I love it. But isn't the is like the default reaction for almost any situation.

464
00:44:32,240 --> 00:44:36,640
Like, well, let's get a beer. Something something happened. Crack a beer.

465
00:44:36,640 --> 00:44:43,680
That happens with kids. I think the concern was is that the meat may have been in a poor condition

466
00:44:43,680 --> 00:44:48,640
if it has been around long enough to grow a pocket of mold. But it's cooked, right?

467
00:44:48,640 --> 00:44:52,400
That's what I said. I'm like, they just fucking melted that thing in the microwave for four minutes.

468
00:44:52,400 --> 00:44:59,840
You get very bad. That is not the way how food porn pathogens work. But

469
00:45:01,280 --> 00:45:07,200
more power to you, man. I mean, they are in the microwave, though, I think I'm dead or stronger

470
00:45:07,200 --> 00:45:17,520
one of the two. That's the video game version of how bacteria works, isn't it? So should we

471
00:45:17,520 --> 00:45:24,400
go on some more? Let's go on to another spicy one. Let's go to the Juno one. Yeah, let's talk

472
00:45:24,400 --> 00:45:30,160
about that shit. Oh, yeah. Okay. That's pretty spicy. I'll do. So Noel, do you want to introduce

473
00:45:30,160 --> 00:45:40,560
this one? Sure. So you might notice the little tagline today was born from this news. So Juno

474
00:45:40,560 --> 00:45:50,160
announces a $1.5 million Juno to $600,000 USDC over the counter swap after several months of

475
00:45:50,160 --> 00:45:56,880
negotiations with various Core One members and affiliates, many of which said not go through

476
00:45:56,880 --> 00:46:03,600
with the deal. A proposal arrives on Commonwealth for the Juno community to decide on.

477
00:46:03,600 --> 00:46:08,160
Who put that proposal? That's Reese's proposal. Is that right? I think it was from Dimmy.

478
00:46:08,160 --> 00:46:14,320
I think Dimmy was on Commonwealth. The response has been, I would say, negative.

479
00:46:14,960 --> 00:46:19,600
So what can somebody explain what the fuck this is? So somebody came to the Core One team and said,

480
00:46:19,600 --> 00:46:28,480
the concern is why in the fuck would anyone want to swap for Juno at 200% above market value?

481
00:46:29,280 --> 00:46:35,280
And the conclusion that anyone can come up with is that someone is going to buy that and then dump

482
00:46:35,280 --> 00:46:44,080
it as money laundering. It's 245% of current price. So who cares if they dump it? Like, I don't

483
00:46:44,080 --> 00:46:53,040
understand. Dump what? Dump at a 70% loss? The argument is let them buy it, let them dump it,

484
00:46:53,040 --> 00:46:59,200
and then the community can absorb the tokens at the lower price having already made the

485
00:46:59,200 --> 00:47:06,800
money on the USDC. That is the argument for who gives a shit because there's such a premium being

486
00:47:06,800 --> 00:47:15,760
paid. But as Null says, it's suss as fuck, dot friends. So nobody knows who this prior is, right?

487
00:47:15,760 --> 00:47:21,600
It's anonymous. There's no understanding of why someone would buy a 30 cents on the dollar, right?

488
00:47:21,600 --> 00:47:34,480
Other than they're like a crypto faithful. Okay. So what would be the concern by people?

489
00:47:34,480 --> 00:47:38,800
There's an individual would dump on day one because it seems like that is the...

490
00:47:38,800 --> 00:47:45,920
I think it's more about supporting or facilitating money laundering if that's what's going on. So

491
00:47:45,920 --> 00:47:51,680
people don't know who the person is and I think they're just concerned that they may be facilitating

492
00:47:51,680 --> 00:47:57,040
money laundering. Agreed. That is a clear issue which resides 100% on Core One.

493
00:47:57,600 --> 00:48:04,800
Yeah. So without knowing... And also there's a whole... There's like the whole like you're creating

494
00:48:04,800 --> 00:48:14,000
another like pretty massive whale. And as... So viewers of the podcast, listeners on podcast players

495
00:48:14,000 --> 00:48:17,200
will not be familiar because I don't think we've ever mentioned it on the podcast before,

496
00:48:17,200 --> 00:48:25,280
but there was this thing called Prop 16 which was all about... I mean, it was about an airdrop

497
00:48:25,280 --> 00:48:32,080
being gamed and yadda yadda yadda. But it was also about a bunch full mass mob action against

498
00:48:32,080 --> 00:48:39,520
somebody who had a very, very large wallet of Juno. And look, if I was going to OTC for Juno

499
00:48:39,520 --> 00:48:47,680
and receive 1.5 million Juno in return, I would be a little bit like... I would have my eyes

500
00:48:47,680 --> 00:48:54,880
on my wallet as it were. Even when you're in like a bit of a shitty bar, right? And you kind of just

501
00:48:54,880 --> 00:48:58,880
like... You've had a few drinks and whatever and like you just like... You're not going to just like

502
00:48:58,880 --> 00:49:02,960
put your wallet on the table next to your beer and then just like take your eye off it. You're

503
00:49:02,960 --> 00:49:06,560
going to keep your wallet in your back pocket and you sit down on it and you're like, I'm a bit

504
00:49:06,560 --> 00:49:13,600
uncomfortable with my wallet in my back pocket, but no big deal. I don't feel like... If you end

505
00:49:13,600 --> 00:49:20,320
up with 1.5 million Juno, who the fuck are you? It's like the ideal place to be there as a very

506
00:49:20,320 --> 00:49:26,720
public whale, maybe? Honestly, this is a... Why? If this is a money launder, they're picking some

507
00:49:26,720 --> 00:49:35,600
shit chains to be able to... Yeah, like what? I don't understand. If you go OTC, typically you

508
00:49:35,600 --> 00:49:40,960
pay less, right? So why are they voluntarily paying more? That doesn't make any sense to me.

509
00:49:40,960 --> 00:49:44,960
Good question. So I don't know. This seems very strange to me.

510
00:49:44,960 --> 00:49:49,600
They could dollar cost here, right? Like they could DCA over a period of time. There's plenty

511
00:49:49,600 --> 00:49:53,520
of sales within Juno. They could acquire... If they really wanted to acquire 1.5 million dollars,

512
00:49:53,520 --> 00:49:57,120
it wouldn't take them very long to be able to do so. And obviously a much better rate than what

513
00:49:57,120 --> 00:49:59,920
they're getting here. So I just want to understand that.

514
00:49:59,920 --> 00:50:06,720
Yeah, 1.5 million Juno for... Well, actually, so Ramas said in the chat, you could buy in market

515
00:50:07,280 --> 00:50:12,720
the 1.5 million and probably only drive up the price to around 30 cents if you did it in

516
00:50:12,720 --> 00:50:16,320
100k increments and that's kicking. That's probably not far off actually.

517
00:50:16,960 --> 00:50:23,280
So yeah, 40 or 50 cents is an absolutely mad premium to be paying for buying that much Juno.

518
00:50:23,280 --> 00:50:30,320
And not to mention that amount at one time. I just don't understand why you would,

519
00:50:30,320 --> 00:50:33,840
regardless of the whale size, it just seems like a very odd type of thing.

520
00:50:33,840 --> 00:50:41,360
But so away from the reasoning for this purchase, what's the downside?

521
00:50:41,360 --> 00:50:47,840
Yeah, I mean, if it's a legit purchaser, then it really isn't the downside other than creating a whale.

522
00:50:47,840 --> 00:50:55,120
But let's say it's not legit. Let's say it's totally fucking shady. Still, what's the downside?

523
00:50:55,120 --> 00:50:58,320
That you're facilitating criminal activity.

524
00:51:00,720 --> 00:51:07,120
Why is this all for prop anyway? Is this because Core 1 couldn't agree on this?

525
00:51:07,120 --> 00:51:10,960
And why is this multi-signature only three individuals out of Core 1?

526
00:51:11,520 --> 00:51:17,200
And why did it take five months to get through? Four months? They said it started on May 25th.

527
00:51:17,200 --> 00:51:20,720
That's when conversation started. Have you guys been talking about this for five months?

528
00:51:22,480 --> 00:51:27,600
Okay, bluntly, some of us are like, this is very, very suspect. We're not touching it.

529
00:51:29,600 --> 00:51:33,360
Obviously, no. Since your name's not in this bullet list, I'm guessing you're in it.

530
00:51:34,800 --> 00:51:39,440
Fucking obviously not. I don't want to call you up, but your name's not on this

531
00:51:39,440 --> 00:51:47,200
bullet list of all the members. So anything to do with this, I guess, is suck as fuck. But you know.

532
00:51:47,760 --> 00:51:51,360
I guess the one good thing is that there would be money there to pay.

533
00:51:51,840 --> 00:51:58,240
Yeah. So there's a thing here where Core 1 as a delegated group of individuals who represent

534
00:51:58,240 --> 00:52:04,000
the interest of Juno to some degree, if there was a legitimate purchaser, like another foundation,

535
00:52:04,000 --> 00:52:11,040
an entity that was sort of KYC'd or known or something like that, then I think there is an

536
00:52:11,040 --> 00:52:16,160
argument. I mean, even the Core 1 treasury is substantial. There isn't absolutely an argument

537
00:52:16,160 --> 00:52:22,320
for having USDC to pay contributors. All this stuff is expensive. And some of the burn on

538
00:52:22,320 --> 00:52:28,480
Core contributors. Now, to be clear, this is worth the money because without it, Juno does not have

539
00:52:28,480 --> 00:52:37,600
a future. But the burn on that stuff is like well over 100,000 Juno a month, right? And that's

540
00:52:37,600 --> 00:52:43,680
a significant chunk of the liquidity available to pay for contributors and development and all

541
00:52:43,680 --> 00:52:49,280
that sort of stuff. Like current price is significant amount of Juno is getting burned,

542
00:52:49,280 --> 00:52:53,040
right? To pay for what are quite normal and reasonable dev salaries.

543
00:52:53,040 --> 00:52:56,000
That's 16,000 a month. That seems very reasonable. Yeah.

544
00:52:56,000 --> 00:53:00,240
Yeah, exactly. And you add together everything is probably substantially more.

545
00:53:00,240 --> 00:53:04,160
Yeah, that seems extremely reasonable. So when you say 100,000 Juno, like people,

546
00:53:05,360 --> 00:53:09,520
back in my 2021 days, right? Yeah, but that seems pretty reasonable. Yeah.

547
00:53:10,240 --> 00:53:17,520
Yeah. So the argument is just that the liquidity required in Juno to continue paying is substantial

548
00:53:17,520 --> 00:53:22,560
and is having an effect. And also that obviously contributors are having to then sell out a market

549
00:53:22,560 --> 00:53:28,800
in order to pay their fucking bills and whatnot. And also, if you're paid, that is how you're paid,

550
00:53:28,800 --> 00:53:35,440
that is your salary. It is 100% your right. And in fact, I'm fiscally responsible of you

551
00:53:35,440 --> 00:53:39,920
to convert that on to fierce immediately because most of your native jurisdictions do not give

552
00:53:39,920 --> 00:53:47,040
too fucks about this shit coin bullshit. You want the money in a place where if somebody says,

553
00:53:47,040 --> 00:53:54,000
yo, you owe me that, you go very good. Don't worry about it. You want to de-risk yourself,

554
00:53:54,000 --> 00:54:00,240
you're just an employee, right? So the whole bunch of... The situation is very, very reasonable

555
00:54:00,240 --> 00:54:05,440
in terms of why the burn rate is the burn rate. But there is like a, well, is there a way of

556
00:54:05,440 --> 00:54:12,640
actually paying those salaries in USDC? But then the thing is the flip side of that is you go,

557
00:54:12,640 --> 00:54:20,560
well, if you're already OTCing 1.5 million Juneau at current market price, although you're doing it

558
00:54:20,560 --> 00:54:26,160
in one goes, there's no effect on price, no effect on price to the community, it's still...

559
00:54:27,120 --> 00:54:33,200
It's just the same thing once, right? It's still selling a large amount of Juneau at current

560
00:54:33,200 --> 00:54:39,120
market price from the community treasury. The end result is the same, which is you're depleting the

561
00:54:39,120 --> 00:54:46,160
treasury of Juneau at a much faster rate because of the current price. And so to some extent,

562
00:54:46,160 --> 00:54:50,720
you're like, well, if the burn rate is 100,000 a month, it's still like... It's a bit more than

563
00:54:50,720 --> 00:54:55,920
that, obviously. But you're still like, it's over 10 months until you've burnt as much as this current

564
00:54:55,920 --> 00:55:05,200
prop is proposing to OTC, right? Well, it becomes more as time goes by because the selling it

565
00:55:05,200 --> 00:55:09,920
causes the price to drop, which in turn makes it have to be more Juneau every single month.

566
00:55:09,920 --> 00:55:15,040
So... Sure, but you're assuming the price is only ever going to go down, which the reality is at the

567
00:55:15,040 --> 00:55:20,240
moment, yes, but if the entire market turns around at some point in the future, which is again, not

568
00:55:20,240 --> 00:55:29,360
unreasonable, markets are cyclical, that bottom will be lifted up by the adjacent liquidity in the

569
00:55:29,360 --> 00:55:35,920
rest of the Cosmos ecosystem, even if you don't think that Juneau itself is going to outperform

570
00:55:35,920 --> 00:55:41,040
the rest of the Cosmos eco is very, very highly likely. This is not financial advice. It's very,

571
00:55:41,040 --> 00:55:48,080
very highly likely that that price will improve from its current position. And even given the

572
00:55:48,080 --> 00:55:53,520
additional liquidity now in circulation that wasn't in circulation, say in AppChain Winter,

573
00:55:53,520 --> 00:56:00,800
it's still highly likely that the price will go up a multiple of where it is currently, which in the

574
00:56:00,800 --> 00:56:05,840
end might end up meaning it resolves itself, right? At least in terms of a really fast burn rate,

575
00:56:05,840 --> 00:56:11,520
which is the current issue that's being seen. Maybe we're like 500 days into this bull or

576
00:56:11,520 --> 00:56:15,520
something like that. There's no cyclical or not, there's no guarantee that any of these

577
00:56:15,520 --> 00:56:22,320
chains move any sort of significant metric in terms of dollars. So this idea that rising

578
00:56:22,320 --> 00:56:29,840
tide raises all ships when it comes to Web 3, I think is, I mean, it does into a point, but

579
00:56:29,840 --> 00:56:32,640
like you can have a 20% increase. Well, everything's great about it.

580
00:56:32,640 --> 00:56:40,640
Well, everything's positively correlated. The mechanics of the pools bring them up with,

581
00:56:40,640 --> 00:56:45,840
so if Adam goes up in value, then the mechanics of the pool brings up the value of Juneau,

582
00:56:45,840 --> 00:56:50,080
which is the way it is. Yes, but not one to one. And certainly not at a point that's going to,

583
00:56:50,080 --> 00:56:54,320
I mean, they haven't decreased at one to one. There's no reason that they're not going to

584
00:56:54,320 --> 00:56:59,840
increase at one to one either. And so the idea that, I mean, we're like 9 or 10,000% away from

585
00:56:59,840 --> 00:57:04,160
all time highs, right? So in this chain. So the idea that this guy's actually going to move any

586
00:57:04,160 --> 00:57:11,680
sort of significant way, back to that cyclical piece of things, I don't know if that's a real

587
00:57:11,680 --> 00:57:18,080
argument associated with this. I mean, if like, say if Adam went up, doubled tomorrow,

588
00:57:18,080 --> 00:57:24,320
right, then it's likely Juneau would probably go up like 25% to 50%.

589
00:57:26,240 --> 00:57:31,280
Honestly, it lost 16% this week. Like you're talking about 25% is equal to a 16% drop.

590
00:57:31,280 --> 00:57:36,720
It's saying the statement's true. The rising tide will bring up the price.

591
00:57:37,520 --> 00:57:41,440
It's a big leak to be able to do that, but I'm with you.

592
00:57:42,560 --> 00:57:47,440
I saw this comment and somebody said that like, probably best to wait, let the new Juneau crew

593
00:57:47,440 --> 00:57:51,360
handle it. I didn't understand what that meant. Is there a new Juneau working group?

594
00:57:52,960 --> 00:58:00,560
There's going to be a proposal to basically dissolve core one and move to a fully sub-dow situation.

595
00:58:01,120 --> 00:58:07,920
So that would be like, like dows associated to specific types of actions or structures?

596
00:58:07,920 --> 00:58:11,840
The head dower is like the community dower and then there's like a council

597
00:58:11,840 --> 00:58:15,200
and the council's made up of like people on the sub-dows.

598
00:58:15,200 --> 00:58:18,960
It's going to be like a full decentralization of any responsibility.

599
00:58:18,960 --> 00:58:22,000
But you still have to have, don't you have to have a core one to be able to

600
00:58:22,000 --> 00:58:24,800
dictate the structure of those dows or no?

601
00:58:24,800 --> 00:58:27,760
That's what community dower ends up doing.

602
00:58:27,760 --> 00:58:28,480
Yeah.

603
00:58:28,480 --> 00:58:30,880
Yeah. The community pool can vote on that.

604
00:58:30,880 --> 00:58:33,920
So, I got you. So the community pool ends up becoming

605
00:58:33,920 --> 00:58:38,160
a core one that can drive some of the participation at the sub-dow level.

606
00:58:38,160 --> 00:58:39,200
Yeah. Is that right?

607
00:58:39,200 --> 00:58:43,840
Yeah. I mean, technically like the new core one, I guess would be the council

608
00:58:43,840 --> 00:58:51,280
in some respects, but just different people with some advisors and that type of shit.

609
00:58:51,920 --> 00:58:54,000
So that means, I mean, I kind of agree with that comment.

610
00:58:54,000 --> 00:58:59,120
Like why would this decision be a multi-signature of a subset of core one then?

611
00:58:59,120 --> 00:58:59,680
But whatever.

612
00:58:59,680 --> 00:59:05,200
I think it's only meant to be like a reasonably brief engagement as a multi-seg right?

613
00:59:05,200 --> 00:59:06,320
Just to send it.

614
00:59:06,320 --> 00:59:10,800
Yeah. These are just a doubt out to make the exchange.

615
00:59:10,800 --> 00:59:11,840
Send the exchange.

616
00:59:11,840 --> 00:59:12,240
Yeah.

617
00:59:12,240 --> 00:59:16,720
I mean, dude, vote yes. I mean, YOLO, who gives a shit?

618
00:59:16,720 --> 00:59:17,920
You surface in the full game.

619
00:59:17,920 --> 00:59:20,560
Let's take the 600,000. Let's fucking take the 600,000.

620
00:59:20,560 --> 00:59:23,440
They can always buy back Juno at a lower rate later anyway.

621
00:59:23,440 --> 00:59:27,520
It'll pump for a little bit and then if it goes down below 16 cents, you can buy it back.

622
00:59:27,520 --> 00:59:35,760
That's the argument. So, straw poll of the podcast then. I'm skeptical.

623
00:59:35,760 --> 00:59:36,160
Null.

624
00:59:36,160 --> 00:59:38,400
I'm hugely skeptical and also voting yes.

625
00:59:38,400 --> 00:59:40,320
Yeah. I mean, I mean.

626
00:59:40,320 --> 00:59:41,760
Skeptical and no.

627
00:59:41,760 --> 00:59:44,400
If it pays for development, fucking YOLO.

628
00:59:45,440 --> 00:59:49,040
Null skeptical and yes. Serp skeptical and yes.

629
00:59:49,040 --> 00:59:49,520
Should see.

630
00:59:49,520 --> 00:59:49,920
Absolutely.

631
00:59:50,640 --> 00:59:53,920
I guess I don't really understand what really the downside is.

632
00:59:54,720 --> 01:00:00,800
I understand there's the argument for wandering and stuff and suspicious activity, but.

633
01:00:01,920 --> 01:00:02,880
Lost my name's not on it.

634
01:00:02,880 --> 01:00:05,440
Like yeah. My name's not on it.

635
01:00:05,440 --> 01:00:05,920
Right?

636
01:00:05,920 --> 01:00:06,960
For real, we know.

637
01:00:06,960 --> 01:00:07,840
If we get the money.

638
01:00:07,840 --> 01:00:14,160
I mean, like for all we know, it's just Jake trying to prop up the fucking chains and all.

639
01:00:15,520 --> 01:00:20,000
Yeah. I mean, it could probably be SG1. It's probably SG1 on it.

640
01:00:22,160 --> 01:00:23,840
SG1's funds only flow out.

641
01:00:26,480 --> 01:00:27,280
Yeah. I mean, they just.

642
01:00:27,280 --> 01:00:32,480
They just took all that out of the crack and to turn it into Juno to bring it back to.

643
01:00:32,480 --> 01:00:33,440
Yeah. This is it.

644
01:00:33,440 --> 01:00:36,000
Yeah. I mean, they just got two million YOLOs.

645
01:00:36,000 --> 01:00:37,600
That's what they want. That's what they want.

646
01:00:40,000 --> 01:00:41,200
Give a little back, you know.

647
01:00:42,160 --> 01:00:45,760
I mean, honestly, if it was two years ago, this is so fucking shady that I think everybody would

648
01:00:45,760 --> 01:00:50,080
say no. And today in September of 2023.

649
01:00:50,080 --> 01:00:51,280
Yeah, sure. Sounds great.

650
01:00:51,280 --> 01:00:51,760
Let's do it.

651
01:00:52,560 --> 01:00:54,480
So if I feel like you've got the BitBoy one.

652
01:00:55,120 --> 01:00:56,000
What's that?

653
01:00:56,000 --> 01:00:56,960
No, the next piece of.

654
01:00:56,960 --> 01:00:58,880
Can we skip down to this Cosmos million thing?

655
01:00:58,880 --> 01:01:01,920
I don't want to talk about that stupid fucking douchebag.

656
01:01:01,920 --> 01:01:09,440
Yeah. The other drama today was that Cosmos millions, which is basically lottery, right?

657
01:01:09,440 --> 01:01:11,360
So I don't really know too much about this.

658
01:01:12,800 --> 01:01:14,160
Prior. No, I think it's in the app.

659
01:01:14,160 --> 01:01:18,720
Is this an Adam Dow or a Dow funded thing or something?

660
01:01:18,720 --> 01:01:20,720
Wait, are we skipping the Ben and Armstrong thing?

661
01:01:20,720 --> 01:01:21,120
We decided.

662
01:01:21,120 --> 01:01:21,920
Yeah, we'll come back.

663
01:01:21,920 --> 01:01:22,720
No, we'll come back to it.

664
01:01:22,720 --> 01:01:23,120
You can do it.

665
01:01:23,120 --> 01:01:23,360
Okay.

666
01:01:23,360 --> 01:01:23,520
Okay.

667
01:01:24,480 --> 01:01:25,200
We'll leave time.

668
01:01:25,200 --> 01:01:34,880
Yeah. So Cosmos millions dot com dot club dot friends has a bit.

669
01:01:34,880 --> 01:01:41,680
So basically what they're doing is that they have the ability for individuals to stake.

670
01:01:42,240 --> 01:01:45,600
I don't know if it's a contract or what the fuck it is, but it's basically a structure

671
01:01:45,600 --> 01:01:47,440
that allows people to stake to that.

672
01:01:47,440 --> 01:01:54,080
And instead of receiving their normal rewards, they run a lottery that has a not just a main

673
01:01:54,080 --> 01:02:00,560
winner, but a system of winners that based on the size of that pool, that redemption of rewards

674
01:02:00,560 --> 01:02:04,960
gets split up across people who stake into that pool at some sort of weighted type of structure.

675
01:02:05,520 --> 01:02:13,760
And then usually they also add in from the hosting chain, that hosting change might sponsor

676
01:02:13,760 --> 01:02:17,760
or basically build up a large pool of delegations to get it going.

677
01:02:17,760 --> 01:02:22,960
So nobody wants to fucking win 20 stars based off of staking a certain amount, right?

678
01:02:22,960 --> 01:02:29,040
But if they're asking stargaze to be able to put up, I think it's 8 million stars.

679
01:02:29,040 --> 01:02:30,880
8 million yet.

680
01:02:30,880 --> 01:02:32,080
It's 8 million stars, right?

681
01:02:32,960 --> 01:02:35,120
I assume that's, I actually don't know.

682
01:02:35,120 --> 01:02:39,760
I think it's being transferred and they stake it or something similar to that, but they basically

683
01:02:39,760 --> 01:02:45,680
stake that to a subset of validators, which we'll never get into, which is still a fucking

684
01:02:45,680 --> 01:02:47,040
pain in the ass, but whatever.

685
01:02:47,040 --> 01:02:51,520
So they stake that to a subset of validators that gets rewarded out.

686
01:02:51,520 --> 01:02:53,760
And I think it's weekly or some sort of situation of that.

687
01:02:54,320 --> 01:03:01,920
Whoever stakes into that pool minus stargaze or minus that first 8 million type of stars,

688
01:03:01,920 --> 01:03:03,040
that rewards comes due.

689
01:03:03,040 --> 01:03:08,560
I think it's like 39, I thought math was like 39,000 stars a month or a week maybe.

690
01:03:08,560 --> 01:03:09,440
Maybe it's a week.

691
01:03:09,440 --> 01:03:13,280
And then there's a set of winners that could randomly draw on and whatever,

692
01:03:13,280 --> 01:03:14,320
and then it gets distributed out.

693
01:03:14,320 --> 01:03:19,280
So if I stake a couple thousand stars to that, I'll have the ability to win a tremendous amount more,

694
01:03:19,280 --> 01:03:19,520
right?

695
01:03:19,520 --> 01:03:24,160
So I think there was a, if I understand this correctly, there was a pretty large grant that was

696
01:03:24,720 --> 01:03:29,200
maybe a $8, maybe somebody else, I don't know how to badmouth them, but that was created to be able

697
01:03:29,200 --> 01:03:29,920
to generate this.

698
01:03:29,920 --> 01:03:33,360
I think it happens within Adam today and with the stargaze.

699
01:03:33,360 --> 01:03:40,080
And so now there's a pretty large amount of drama associated to that that is associated to

700
01:03:40,080 --> 01:03:45,040
the idea that stargaze coming out of the community fund might put 8 million stars towards this.

701
01:03:45,040 --> 01:03:49,680
So the idea is that also it's not a grant and so much is that it's a, I think that it has to be

702
01:03:49,680 --> 01:03:50,320
transferred though.

703
01:03:50,320 --> 01:03:54,640
I'm not exactly sure, but I think it has to be transferred since the rewards have to come back to the pool.

704
01:03:55,840 --> 01:03:56,400
I think.

705
01:03:56,400 --> 01:04:02,000
And then, and then I would assume over time after that gets bootstrapped enough that 8 million might come out.

706
01:04:02,640 --> 01:04:05,280
But I don't know how long that would take to be able to do that.

707
01:04:05,280 --> 01:04:09,920
And so there's a, there's just a lot of drama around there's a stargaze proper on it and it's turning into a

708
01:04:09,920 --> 01:04:10,800
like a whole fucking thing.

709
01:04:10,800 --> 01:04:13,920
So I mean, what's 8 million stars like?

710
01:04:13,920 --> 01:04:16,400
It's like $17 or something.

711
01:04:16,400 --> 01:04:16,640
Yeah.

712
01:04:18,000 --> 01:04:21,440
It's a, oh shit, I can do a quick math here.

713
01:04:21,440 --> 01:04:22,560
I think it is.

714
01:04:24,080 --> 01:04:25,440
60,000 or something like that.

715
01:04:25,440 --> 01:04:27,520
Yeah, it's probably about, yeah, 64 grand.

716
01:04:27,520 --> 01:04:28,560
It's not too much actually.

717
01:04:29,200 --> 01:04:33,120
So, you know, back to the yellow piece of our last news segment.

718
01:04:34,320 --> 01:04:36,560
Romer says it's a multi-stake that controls it for one year.

719
01:04:36,560 --> 01:04:37,120
I think that's correct.

720
01:04:37,120 --> 01:04:40,000
So I think that they do transfer those stars back.

721
01:04:40,000 --> 01:04:43,360
If there's an agreement to be able to return those back, something similar to that,

722
01:04:43,360 --> 01:04:45,040
then so be it.

723
01:04:46,320 --> 01:04:50,080
But the idea would be that it gets us going and then you kind of build this.

724
01:04:50,080 --> 01:04:53,280
And I had a pre-call with this team because they wanted to reach,

725
01:04:53,280 --> 01:04:57,600
I think they're reaching out to validators to get their opinions on it because this is an elected official

726
01:04:57,600 --> 01:05:00,080
stupid fucking Cosmos SDK governance thing.

727
01:05:01,600 --> 01:05:08,000
And my count to them was like, I guess it makes sense and like I understand what they're

728
01:05:08,000 --> 01:05:11,200
trying to be able to do and it's kind of fun and those types of things, which whatever.

729
01:05:11,200 --> 01:05:15,360
But there's such an opportunity here, both in terms of the NFT side of the house,

730
01:05:15,360 --> 01:05:19,360
in terms of maybe kind of doing some tie-ins with either new creators or other creators

731
01:05:20,000 --> 01:05:22,960
to be able to drive some use there from NFT holder.

732
01:05:22,960 --> 01:05:26,240
Maybe I get something extra on top of that, something similar that you can do with that.

733
01:05:26,240 --> 01:05:30,480
And the other thing that we haven't, we've talked about last week was that like we have,

734
01:05:30,480 --> 01:05:35,520
we have this idea of this influx of MetaMass snap users and this capability

735
01:05:35,520 --> 01:05:41,120
of being able to expose like Stargaze and other great chains to a huge

736
01:05:41,120 --> 01:05:42,400
number of new users.

737
01:05:42,400 --> 01:05:43,440
Like how do you do that?

738
01:05:43,440 --> 01:05:45,840
Like how do you actually, that great, that capabilities there,

739
01:05:45,840 --> 01:05:48,320
but that doesn't mean anybody's actually figuring that shit out.

740
01:05:48,320 --> 01:05:51,520
And so how can you build like marketing around this and find something more

741
01:05:53,920 --> 01:05:56,960
interesting to be able to attract more eyeballs?

742
01:05:57,600 --> 01:05:59,600
Because it is a great marketplace and it's a great tool set.

743
01:05:59,600 --> 01:06:02,640
So it'd be nice to be able to find ways to be able to do that.

744
01:06:02,640 --> 01:06:06,080
And I didn't see either of those in this prop and I don't think they have much of a plan around those.

745
01:06:06,080 --> 01:06:13,840
And so anyway, I think it's just more, it kind of goes back to the same idea, which is like prices

746
01:06:13,840 --> 01:06:20,320
are down and it's a, nobody wants to spend anything coming out of the community pool,

747
01:06:20,320 --> 01:06:26,160
but at the same time that when props do come up, it turns into how is this going to expand out and

748
01:06:26,160 --> 01:06:26,640
do more.

749
01:06:26,640 --> 01:06:29,360
So it always becomes a bit of a challenge.

750
01:06:29,360 --> 01:06:30,480
I hope you guys saw this or not.

751
01:06:30,480 --> 01:06:35,120
My question is, is does the draw use noise?

752
01:06:36,400 --> 01:06:37,600
That's a damn good question.

753
01:06:37,600 --> 01:06:38,880
I don't know how the draw works actually.

754
01:06:40,080 --> 01:06:40,960
Yeah, I don't know.

755
01:06:40,960 --> 01:06:41,200
Should.

756
01:06:41,680 --> 01:06:43,040
Are you saying you're in favor of it?

757
01:06:43,040 --> 01:06:43,920
It's just so much random.

758
01:06:45,680 --> 01:06:46,400
Who me?

759
01:06:46,400 --> 01:06:46,880
Yeah, you.

760
01:06:47,520 --> 01:06:51,280
Yeah, I'm kind of in the YOLO who gives a fucking stage of this, right?

761
01:06:51,280 --> 01:06:59,600
So since, since I would request would be that there is a time limit and it's a bootstrap

762
01:06:59,600 --> 01:07:00,720
over a period of time.

763
01:07:00,720 --> 01:07:08,640
And since we are losing like the community would lose the, the, the gains from those

764
01:07:08,640 --> 01:07:10,800
stake stars over that period of time.

765
01:07:10,800 --> 01:07:16,800
But if we had six months of say, hey, it's eight, it's eight million stars over six months.

766
01:07:16,800 --> 01:07:22,480
And therefore we have whatever it is, like 40,000 stars times, times six times 20, 24

767
01:07:22,480 --> 01:07:23,440
weeks or whatever that is.

768
01:07:24,000 --> 01:07:27,440
If that's what we're, if that's what we're losing, is that the community is losing to

769
01:07:27,440 --> 01:07:30,640
be able to give it a shot and find other ways to be able to bring more eyeballs in,

770
01:07:30,640 --> 01:07:31,600
then maybe that's worth it.

771
01:07:31,600 --> 01:07:32,080
Right.

772
01:07:32,080 --> 01:07:35,600
And actually, I kind of don't think those, those stars should be staked anyway, but that's

773
01:07:35,600 --> 01:07:35,920
different.

774
01:07:36,880 --> 01:07:41,920
So, so the idea that, that it could create something.

775
01:07:41,920 --> 01:07:42,560
Yeah.

776
01:07:42,560 --> 01:07:46,000
Originally, I was really negative around it, but at the same point, if it could turn into

777
01:07:46,000 --> 01:07:48,800
more eyeballs or it turns into a marketing thing, it's a marketing thing.

778
01:07:48,800 --> 01:07:52,240
And if those stars come back, then maybe it's not that bad of an idea.

779
01:07:52,240 --> 01:07:56,720
If those stars are gone, like it's, hey, it's $100,000 or whatever it is that eight million

780
01:07:56,720 --> 01:08:01,280
times eight cents, that it's gone forever, then that's different.

781
01:08:01,280 --> 01:08:02,880
Marama says, he's a huge vote.

782
01:08:02,880 --> 01:08:05,600
No, I feel like Rama has an opinion.

783
01:08:06,240 --> 01:08:06,400
Yeah.

784
01:08:07,280 --> 01:08:08,080
He's not a big fan.

785
01:08:08,720 --> 01:08:09,440
So I don't know.

786
01:08:09,440 --> 01:08:13,520
I'm also, we're also at the point where like, like we got, you got to throw some caution to

787
01:08:13,520 --> 01:08:14,480
win and see what the hell works.

788
01:08:14,480 --> 01:08:19,520
But, you know, I also, since it wasn't a grant and they're not going away, it kind of reduced

789
01:08:19,520 --> 01:08:22,240
my overall negativity towards it.

790
01:08:23,520 --> 01:08:23,840
Yeah.

791
01:08:23,840 --> 01:08:29,280
I guess my question is, does it increase self pressure by you, by using it and then it returns?

792
01:08:29,280 --> 01:08:34,720
I mean, I suppose it would cause you said it increases the reward amounts that correct.

793
01:08:34,720 --> 01:08:38,400
Well, the mint goes to individuals versus to the community.

794
01:08:38,400 --> 01:08:42,400
So yeah, it would, it wouldn't, it would, the mint doesn't necessarily change, but the,

795
01:08:42,400 --> 01:08:45,040
the number of stars that are available to be sold does.

796
01:08:45,040 --> 01:08:45,600
Sure.

797
01:08:45,600 --> 01:08:47,200
I would think I must be misunderstood.

798
01:08:47,200 --> 01:08:50,000
Anything I thought you said it was coming from the community pool and the community

799
01:08:50,000 --> 01:08:52,080
pool does not have a stake right now, right?

800
01:08:52,080 --> 01:08:53,280
I don't know if they do or not.

801
01:08:53,280 --> 01:08:54,080
Oh, okay.

802
01:08:54,080 --> 01:08:57,280
I don't, I don't know, because there are some validator delegations and those types of things.

803
01:08:57,280 --> 01:08:59,040
I don't know if it comes out of that or if it's, if it's not.

804
01:08:59,040 --> 01:09:00,720
There's no on Stargates.

805
01:09:00,720 --> 01:09:03,680
I don't think there's any community pool staking or anything.

806
01:09:03,680 --> 01:09:04,160
Okay.

807
01:09:04,160 --> 01:09:04,400
Okay.

808
01:09:05,040 --> 01:09:08,800
There are valid, there are validator foundation delegations though.

809
01:09:08,800 --> 01:09:09,760
I don't know where those are coming from.

810
01:09:10,320 --> 01:09:12,880
I mean, it's like a different wallet.

811
01:09:14,000 --> 01:09:17,040
I guess it's a really matter for me asking because I don't have a Stargates validator.

812
01:09:17,040 --> 01:09:17,280
So.

813
01:09:18,240 --> 01:09:18,720
Oh, yeah.

814
01:09:19,200 --> 01:09:19,600
Oh, yeah.

815
01:09:19,600 --> 01:09:20,000
Oh, yeah.

816
01:09:20,000 --> 01:09:23,360
I don't have a Passage, we have a Passage validator.

817
01:09:23,360 --> 01:09:25,120
Listen, I'm long on Passage.

818
01:09:25,120 --> 01:09:29,360
I think that it is going to change the face of the metaverse.

819
01:09:31,120 --> 01:09:32,720
I couldn't even say at the straight face.

820
01:09:32,720 --> 01:09:34,560
Dang, I cracked at the end.

821
01:09:36,400 --> 01:09:37,760
I thought you were going to put it off.

822
01:09:37,760 --> 01:09:42,480
I was like, I was like, I kind of know he's fucking with me, but I also really want to

823
01:09:42,480 --> 01:09:44,240
believe in the sincerity.

824
01:09:44,240 --> 01:09:47,120
I want, I want to buy into this lie.

825
01:09:47,120 --> 01:09:48,240
How can I buy an interest by?

826
01:09:48,240 --> 01:09:53,360
By going to Osmosis and buying Passage tokens is the answer to that question.

827
01:09:53,360 --> 01:09:54,320
That's not financial advice.

828
01:09:54,320 --> 01:09:55,200
You shouldn't do it.

829
01:09:55,200 --> 01:09:57,360
Um, yeah, cool.

830
01:09:57,360 --> 01:09:57,600
Okay.

831
01:09:58,160 --> 01:10:01,040
Anyway, women can be surprisingly convincing.

832
01:10:02,080 --> 01:10:08,240
When you just look straight in the webcam and just whisper sweet little nothings into the

833
01:10:08,960 --> 01:10:10,400
external Mike jacket.

834
01:10:12,160 --> 01:10:14,480
Hey, look, I do want them to be successful.

835
01:10:14,480 --> 01:10:18,400
Whatever's good for like any network individual is good for the ecosystem.

836
01:10:18,400 --> 01:10:27,280
So who's they go you guys, you know, any of them, them capital capital T, you know,

837
01:10:28,320 --> 01:10:31,040
it's that was really close to the, the Spital Tap thing.

838
01:10:31,040 --> 01:10:35,600
Wasn't it where we're a real huge fans of your music, not yours specifically, but the

839
01:10:35,600 --> 01:10:37,760
whole genre role.

840
01:10:40,160 --> 01:10:43,120
You're speaking of your shit change.

841
01:10:43,120 --> 01:10:49,200
But, but, but, but more generally all of the, the genre of shit chains.

842
01:10:49,760 --> 01:10:50,640
Dude, I just use that.

843
01:10:50,640 --> 01:10:57,280
I use the Spital Tap reference with a, we were at a party last Saturday and I was meeting some,

844
01:10:57,280 --> 01:10:59,040
some guy like we're just for kids things.

845
01:10:59,040 --> 01:11:02,240
So there's a bunch of, you know, kid dads and things like that, which is always like

846
01:11:02,240 --> 01:11:04,720
a weird conversation because you're always like, what's going on?

847
01:11:05,280 --> 01:11:05,520
Right.

848
01:11:05,520 --> 01:11:07,680
Cause like we're not friends, but our kids are friends.

849
01:11:07,680 --> 01:11:09,040
So therefore we got to hang out.

850
01:11:09,680 --> 01:11:10,240
That type of thing.

851
01:11:10,240 --> 01:11:12,080
Like you'll, you guys, okay.

852
01:11:12,080 --> 01:11:13,200
So here's a question.

853
01:11:13,200 --> 01:11:17,600
Is it weird doing that versus meeting like your wife's friends, which is, which is

854
01:11:17,600 --> 01:11:19,840
like on a weird scale, which is better.

855
01:11:19,840 --> 01:11:24,240
Honestly, I do way better with what even in those situations, I hang out with all the women.

856
01:11:24,240 --> 01:11:24,880
I don't know.

857
01:11:24,880 --> 01:11:27,360
It's just more, more, they're more fun.

858
01:11:27,360 --> 01:11:29,600
There's less like big ball type things.

859
01:11:29,600 --> 01:11:30,560
I'm like, where do you work?

860
01:11:30,560 --> 01:11:33,200
I'm like, fuck, I don't get, I sell shit coins.

861
01:11:33,200 --> 01:11:34,000
That's what I do.

862
01:11:34,000 --> 01:11:34,720
Do you know what that means?

863
01:11:34,720 --> 01:11:36,640
I don't want to fucking tell you.

864
01:11:36,640 --> 01:11:39,040
Go to door shit coin snails.

865
01:11:39,040 --> 01:11:42,800
I'm like, good artist at the coface job.

866
01:11:42,800 --> 01:11:44,480
What do you think of prop 16?

867
01:11:44,480 --> 01:11:44,720
Yeah.

868
01:11:44,720 --> 01:11:45,840
Like I don't give a shit.

869
01:11:45,840 --> 01:11:47,520
Like I, whatever.

870
01:11:47,520 --> 01:11:52,400
So, so anyway, so what am I always like you, you drop like movie hints.

871
01:11:52,400 --> 01:11:55,760
Like you want to figure out like if dudes know what the fuck you're talking about, right?

872
01:11:55,760 --> 01:11:59,040
Like, or just like, like if you can joke around with them or whatever else,

873
01:11:59,040 --> 01:12:01,680
because it becomes so formal in some of these types of things, situations like,

874
01:12:02,240 --> 01:12:03,920
you know, where do you live and what do you do?

875
01:12:03,920 --> 01:12:07,600
And I'm like, I don't, I'm over 50.

876
01:12:07,600 --> 01:12:08,560
I'm not making new friends.

877
01:12:08,560 --> 01:12:10,480
Right. So those days are over.

878
01:12:10,480 --> 01:12:12,960
Like it's just, it's just a matter of like, I just want to be kind.

879
01:12:12,960 --> 01:12:17,920
And so, so what are the, so in this conversation, I said, dude, I'd love to talk to you,

880
01:12:18,480 --> 01:12:20,080
but we gotta go wait.

881
01:12:20,080 --> 01:12:22,240
I gotta go wait in the lobby because we're waiting for the limo.

882
01:12:22,240 --> 01:12:26,160
You don't love the talk here, but I really need to get a play with this role,

883
01:12:26,800 --> 01:12:28,000
which is a spinal tap reference.

884
01:12:28,000 --> 01:12:31,200
If you remember when they're in the hotel, I breathe.

885
01:12:31,200 --> 01:12:31,440
Yeah.

886
01:12:31,440 --> 01:12:34,560
When he goes, I guess like, look, so we have to talk, but we gotta go, we gotta go in the

887
01:12:34,560 --> 01:12:34,720
lobby.

888
01:12:34,720 --> 01:12:35,680
We gotta wait for the limo.

889
01:12:35,680 --> 01:12:38,160
Like remember, so I said that.

890
01:12:38,160 --> 01:12:42,400
And the guy looked at me like, you had no fucking clue what I was talking about.

891
01:12:42,400 --> 01:12:43,200
Like at all.

892
01:12:43,200 --> 01:12:45,200
I was like, that's quite a bleak.

893
01:12:45,760 --> 01:12:46,320
It is.

894
01:12:46,320 --> 01:12:46,880
I know.

895
01:12:46,880 --> 01:12:49,920
Enjoy the awkwardness of the Duke fame scene in order to

896
01:12:49,920 --> 01:12:51,040
I fucking love that.

897
01:12:51,040 --> 01:12:55,120
Listen, I'd love to talk to you, but I was sitting in the lobby and waiting for the limo.

898
01:12:55,120 --> 01:12:58,560
That's one of those lines that I don't, I wouldn't have gotten the reference.

899
01:12:58,560 --> 01:12:58,880
I know.

900
01:12:58,880 --> 01:12:59,120
Nobody.

901
01:12:59,120 --> 01:13:00,960
But man, I would have frigging laughed.

902
01:13:00,960 --> 01:13:03,600
I've been like, what did you just say?

903
01:13:03,600 --> 01:13:05,280
That's kind of like, I buy T-shirts like that.

904
01:13:05,280 --> 01:13:09,120
I had like really random shit on them and like every, like every once in a while,

905
01:13:09,120 --> 01:13:12,080
like somebody picks on, I was like, oh, like that type of thing.

906
01:13:12,080 --> 01:13:13,360
Like not like really random.

907
01:13:14,000 --> 01:13:16,480
It's kind of the, there's some comedians that are really like that.

908
01:13:16,480 --> 01:13:20,080
And they will, the common, I've heard this joke several times from several different

909
01:13:20,080 --> 01:13:24,800
comedians, but especially the comedian Tom Lisle with the.

910
01:13:24,800 --> 01:13:25,520
Sounds English.

911
01:13:25,520 --> 01:13:29,600
I've got, I've got only one, I've got one joke for every member of the audience.

912
01:13:29,600 --> 01:13:36,720
So it's going to be very, very, very awkward hour until your joke rolls around.

913
01:13:36,720 --> 01:13:42,560
And the first time we saw him do an hour, he told one about German Cosmisch bands.

914
01:13:42,560 --> 01:13:44,880
And I was like, got you there, buddy.

915
01:13:44,880 --> 01:13:45,760
Love it.

916
01:13:45,760 --> 01:13:52,960
And then about 35 minutes later, he told a joke about the Keswick Pencil Museum

917
01:13:52,960 --> 01:13:55,040
and my wife lost her shit.

918
01:13:55,040 --> 01:14:00,080
And for some British people will get the Keswick Pencil Museum.

919
01:14:00,080 --> 01:14:04,400
The best thing about the Keswick Pencil Museum, right, is the, especially in the old building,

920
01:14:04,400 --> 01:14:08,720
which was a real shit hole, there was a pencil that ran most of the length of the building,

921
01:14:08,720 --> 01:14:08,960
right?

922
01:14:09,520 --> 01:14:13,120
And they want you to assume it's the biggest pencil in the world, right?

923
01:14:13,120 --> 01:14:13,920
Because it's really big.

924
01:14:13,920 --> 01:14:15,040
It's like 20 foot long.

925
01:14:15,040 --> 01:14:17,840
And so it's like, well, why would they have it on the ceiling?

926
01:14:17,840 --> 01:14:22,560
Because if it's not the longest pencil in the world, it's not the fucking longest pencil

927
01:14:22,560 --> 01:14:23,120
in the world.

928
01:14:23,120 --> 01:14:26,080
The plaque is just a little bit out of the way, right?

929
01:14:26,080 --> 01:14:27,280
And when you look at it, it's like...

930
01:14:27,280 --> 01:14:30,160
Did he seriously just grease on the punchline?

931
01:14:30,160 --> 01:14:32,880
Specific, easily way of describing what it actually is.

932
01:14:32,880 --> 01:14:41,280
It's like, it has like a really non-specific description of what, where it sits in the

933
01:14:41,280 --> 01:14:42,160
ranking of pencils.

934
01:14:42,160 --> 01:14:46,480
And you have to look online to discover where exactly, like, because it's like the biggest

935
01:14:46,480 --> 01:14:48,880
coloring pencil or something like that.

936
01:14:48,880 --> 01:14:54,160
And it's really specifically like it's the biggest red pencil in the world.

937
01:14:54,160 --> 01:14:55,520
But it's not the biggest coloring pencil.

938
01:14:55,520 --> 01:14:56,960
It's not the biggest pencil.

939
01:14:56,960 --> 01:14:58,800
It's not any of the important big hitters.

940
01:14:58,800 --> 01:15:00,800
It's actually way smaller than those.

941
01:15:00,800 --> 01:15:03,920
And the best thing about this is I didn't even find that out from Wikipedia.

942
01:15:03,920 --> 01:15:08,240
I found out later from looking at Wikipedia after I went on TripAdvisor.

943
01:15:08,240 --> 01:15:09,760
Because the most negative...

944
01:15:09,760 --> 01:15:12,800
You know, TripAdvisor has like the most positive review and the most negative.

945
01:15:12,800 --> 01:15:17,600
The most negative was one guy, just full Alan Partridge going like,

946
01:15:17,600 --> 01:15:21,600
let me tell you, I spent 16 pounds 50 going around this museum, if you could call it a

947
01:15:21,600 --> 01:15:22,560
museum.

948
01:15:22,560 --> 01:15:28,080
And just like slated specifically things he didn't like about various exhibits.

949
01:15:28,720 --> 01:15:34,480
And one of them was he itemized all the factual issues with the massive pencil.

950
01:15:34,480 --> 01:15:36,240
And it was, I was like, oh, thank you.

951
01:15:36,240 --> 01:15:37,680
You've done all the research for me.

952
01:15:37,680 --> 01:15:41,520
And then right at the end, he was something like, oh, I did like the wartime spies exhibit though.

953
01:15:42,560 --> 01:15:43,360
One out of five.

954
01:15:44,960 --> 01:15:45,440
Yes.

955
01:15:45,440 --> 01:15:46,960
What a TripAdvisor review.

956
01:15:46,960 --> 01:15:47,600
Love it.

957
01:15:47,600 --> 01:15:49,680
Absolute full Alan Partridge.

958
01:15:49,680 --> 01:15:50,720
It was magic.

959
01:15:51,280 --> 01:15:55,120
Listen, this conversation was really interesting, but I gotta go sit and lie me and wait for limo.

960
01:15:56,960 --> 01:15:58,640
Hey, on that reference, right?

961
01:15:58,640 --> 01:16:00,480
You know, you know the band.

962
01:16:01,360 --> 01:16:03,520
I'm pretty sure you Serpa knows the band Ocean Size.

963
01:16:05,120 --> 01:16:10,240
The guy from Ocean Size, the singer went and did a band after that called Venar.

964
01:16:10,240 --> 01:16:15,440
And on the first Venar album, track five, I think is called Duke fame.

965
01:16:15,440 --> 01:16:17,040
And it is a reference to that.

966
01:16:17,040 --> 01:16:19,280
So we're on a bit of a time crunch now.

967
01:16:20,560 --> 01:16:21,360
You're going on.

968
01:16:22,480 --> 01:16:25,040
You could have summarized all of that with yada, yada, yada.

969
01:16:27,600 --> 01:16:28,080
All right.

970
01:16:28,080 --> 01:16:31,520
So 15 minutes talking about a pasty.

971
01:16:31,520 --> 01:16:38,560
I mean, I'll spend 15 minutes waxing poetic about a pasty, but not if it involves mold.

972
01:16:38,560 --> 01:16:39,600
Dude, moldy pasty.

973
01:16:39,600 --> 01:16:40,240
Get any of this.

974
01:16:40,240 --> 01:16:41,680
You want to pick out of here, Schiltzee?

975
01:16:42,560 --> 01:16:44,800
I'm busy registering moldy pasty.com.

976
01:16:44,800 --> 01:16:45,440
All right.

977
01:16:45,440 --> 01:16:47,920
You Serpa has a domain addiction.

978
01:16:47,920 --> 01:16:51,760
It's sorry that it's come out so publicly on the podcast, but it's well known.

979
01:16:52,320 --> 01:16:54,160
Well, amongst the podcast.

980
01:16:54,160 --> 01:16:55,040
For five dollars.

981
01:16:55,040 --> 01:16:55,680
I mean, what the hell?

982
01:16:56,720 --> 01:16:57,200
Let's go.

983
01:16:57,200 --> 01:16:57,680
Let's go.

984
01:16:57,680 --> 01:16:58,400
Before we knock it by.

985
01:16:58,400 --> 01:17:02,160
Let's go to the informal news before I have to fucking mute all of you.

986
01:17:02,160 --> 01:17:02,720
I don't know.

987
01:17:02,720 --> 01:17:03,920
So, okay.

988
01:17:03,920 --> 01:17:13,520
In informal slash high five, road map 2024 community spend proposal, presumably on Adam.

989
01:17:13,520 --> 01:17:21,840
Um, due to ICF cutbacks in funding informal and hyper hyper co-op have decided to put

990
01:17:21,840 --> 01:17:28,080
a proposal forward to the cosmos hub community to fund development and R and D of the hub

991
01:17:28,080 --> 01:17:29,520
for 2024.

992
01:17:29,520 --> 01:17:36,880
The spend prop is 5.7 million US dollars worth of Adam and would be converted from Adam

993
01:17:36,880 --> 01:17:40,720
to USDC with vesting occurring monthly to the fund.

994
01:17:40,720 --> 01:17:41,280
The teams.

995
01:17:41,280 --> 01:17:41,760
Oops.

996
01:17:41,760 --> 01:17:42,880
That was me.

997
01:17:44,880 --> 01:17:51,920
The prop includes maintenance of hub upgrades to ICS testing and test net support and R and

998
01:17:51,920 --> 01:17:56,480
D for atomic IBC mesh security and IBC routing.

999
01:17:56,480 --> 01:18:00,640
Isn't the fucking isn't there a fund for this?

1000
01:18:00,640 --> 01:18:01,840
Aren't they already rich?

1001
01:18:01,840 --> 01:18:02,480
Yeah.

1002
01:18:02,480 --> 01:18:02,880
What?

1003
01:18:02,880 --> 01:18:03,360
What?

1004
01:18:03,360 --> 01:18:09,360
What's enderman or all in bits or whatever the fuck has like 700 million dollars.

1005
01:18:09,360 --> 01:18:11,920
Seven hundred million.

1006
01:18:11,920 --> 01:18:17,920
It was some comedy number like I was told the number that they had in the bank and I

1007
01:18:17,920 --> 01:18:19,920
was like, that's not a real number.

1008
01:18:19,920 --> 01:18:22,560
I might have mine by an order of magnitude.

1009
01:18:22,560 --> 01:18:23,920
Maybe 70 million or something.

1010
01:18:23,920 --> 01:18:24,320
I don't know.

1011
01:18:25,200 --> 01:18:26,960
It was a big fucking number though.

1012
01:18:26,960 --> 01:18:28,560
There was some big number knocking around.

1013
01:18:29,200 --> 01:18:31,120
Oh, but are they the ICF?

1014
01:18:32,960 --> 01:18:33,440
They're not.

1015
01:18:33,440 --> 01:18:35,360
So why is an ICF paying for this though?

1016
01:18:35,360 --> 01:18:36,720
Isn't that their fucking job?

1017
01:18:36,720 --> 01:18:39,040
Yeah, that makes me confused about the purpose of ICF.

1018
01:18:39,040 --> 01:18:39,920
Why would they?

1019
01:18:39,920 --> 01:18:42,640
I think the ICF is confused about the purpose of the ICF.

1020
01:18:43,840 --> 01:18:48,320
That's why we need to elect Jacob Notional.

1021
01:18:49,440 --> 01:18:49,760
Let's do it.

1022
01:18:49,760 --> 01:18:50,720
Oh, shit.

1023
01:18:50,720 --> 01:18:51,600
Let's try it again.

1024
01:18:51,600 --> 01:18:52,000
Use.

1025
01:18:53,680 --> 01:18:53,920
Yeah.

1026
01:18:55,280 --> 01:19:00,880
Just like Jeff, we need to get Jeff Amazon, but Jacob Notional onto the ICF board to

1027
01:19:00,880 --> 01:19:02,080
straight this whole thing out.

1028
01:19:02,080 --> 01:19:03,280
That's what we need to do.

1029
01:19:03,280 --> 01:19:06,960
I don't know if that fits in my new YOLO governance structure.

1030
01:19:06,960 --> 01:19:07,360
I don't know.

1031
01:19:07,360 --> 01:19:08,960
I might be a bridge too far.

1032
01:19:10,000 --> 01:19:12,320
AIBs rug the hub to pay for noobs.

1033
01:19:14,240 --> 01:19:14,640
Dang.

1034
01:19:16,640 --> 01:19:16,880
Yeah.

1035
01:19:16,880 --> 01:19:20,000
So I mean, that seems like a little, a little strange.

1036
01:19:20,640 --> 01:19:27,360
I am almost 100% positive that it'll get passed because yes, voters.

1037
01:19:28,240 --> 01:19:30,480
Because it looks like it's positive.

1038
01:19:30,480 --> 01:19:34,320
There was a word doc that was created that's more than two pages long,

1039
01:19:34,320 --> 01:19:37,680
and it followed some sort of bullshit structure around proposal generation.

1040
01:19:37,680 --> 01:19:42,240
That's usually, you get over those three hubs, like those three hurdles, usually pretty good.

1041
01:19:42,240 --> 01:19:42,560
Right?

1042
01:19:43,200 --> 01:19:49,440
I really enjoy that it has become a norm to tell you what the different votes mean.

1043
01:19:50,480 --> 01:19:54,080
Like a yes vote means this outcome will happen.

1044
01:19:54,080 --> 01:19:58,880
A no vote means you wish babies were punted off of the entire state building.

1045
01:20:00,480 --> 01:20:02,800
I don't think you get to tell me what my no vote means.

1046
01:20:02,800 --> 01:20:05,440
A no with veto means you will burn in hell for eternity.

1047
01:20:06,000 --> 01:20:06,400
Yeah.

1048
01:20:07,440 --> 01:20:09,120
I'm saying you wish to contribute to the quorum,

1049
01:20:09,120 --> 01:20:13,360
but you formally declined to vote either for or against their proposal.

1050
01:20:13,360 --> 01:20:14,080
Comma pussy.

1051
01:20:18,320 --> 01:20:19,360
Stop being a pushy.

1052
01:20:21,680 --> 01:20:22,080
Yeah.

1053
01:20:22,720 --> 01:20:24,800
You are Switzerland in World War II.

1054
01:20:24,800 --> 01:20:29,920
You want the gold, but you are not that interested in combating fascism.

1055
01:20:29,920 --> 01:20:36,000
But you have a lot of nuclear follow centers just in case.

1056
01:20:36,000 --> 01:20:39,840
Well, I guess that's post that would be post dub dub dub dub dub two.

1057
01:20:40,560 --> 01:20:41,040
That's true.

1058
01:20:41,040 --> 01:20:42,240
That's just called war era.

1059
01:20:42,240 --> 01:20:48,640
So in other news, the the TIA airdrop is live.

1060
01:20:49,600 --> 01:20:52,640
TIA is Celestia.

1061
01:20:53,440 --> 01:20:55,760
The the denom for Celestia.

1062
01:20:55,760 --> 01:21:00,560
For those plebes who do not keep track of all of the tickers.

1063
01:21:00,560 --> 01:21:02,640
Yeah, fucking plebs get up today.

1064
01:21:02,640 --> 01:21:02,960
Hold on.

1065
01:21:02,960 --> 01:21:05,920
I feel like we have a little bit more to discuss with the informal thing.

1066
01:21:06,480 --> 01:21:09,680
I haven't we ever talked about this before that?

1067
01:21:09,680 --> 01:21:11,840
No, I genuinely want to talk about this.

1068
01:21:11,840 --> 01:21:13,520
Like this is like, hold up.

1069
01:21:13,520 --> 01:21:14,080
What the fuck?

1070
01:21:14,080 --> 01:21:15,040
I did not agree to be.

1071
01:21:15,040 --> 01:21:17,360
Oh, I wasn't done with the previous subject.

1072
01:21:17,360 --> 01:21:18,160
I wasn't.

1073
01:21:18,160 --> 01:21:20,240
I had a little bit more to make fun of it for.

1074
01:21:20,240 --> 01:21:22,240
We'll delete this other news continue.

1075
01:21:22,240 --> 01:21:25,600
So the TIA thing is we're saying, okay, let me give me give me one more moment.

1076
01:21:25,600 --> 01:21:27,440
Of of of prime time.

1077
01:21:27,440 --> 01:21:28,480
I mean, there's three minutes.

1078
01:21:28,480 --> 01:21:30,160
So okay, I'll be quick.

1079
01:21:31,840 --> 01:21:35,840
I feel like we've talked about before that these proposals really need to be broken down a lot.

1080
01:21:35,840 --> 01:21:39,840
There's a lot of topic being covered in this that they want funding for, right?

1081
01:21:39,840 --> 01:21:44,880
Like the comment testing thing, I feel like that should be its own thing in general.

1082
01:21:44,880 --> 01:21:47,840
Atomic IBC funding control mechanism.

1083
01:21:47,840 --> 01:21:48,400
That's great.

1084
01:21:48,400 --> 01:21:49,440
This is great content.

1085
01:21:49,440 --> 01:21:50,800
I appreciate you thought about it.

1086
01:21:50,800 --> 01:21:52,640
Why are they all in one single thing?

1087
01:21:52,640 --> 01:21:55,200
Why if you want to go to the community for funding?

1088
01:21:55,200 --> 01:21:58,640
Why is the community not defining what is worth pursuing?

1089
01:21:58,640 --> 01:22:03,120
I grant that there should be some things that like there's like a phrase of like

1090
01:22:03,120 --> 01:22:04,640
people don't actually know what they want.

1091
01:22:05,360 --> 01:22:07,360
You kind of have to tell them what they want to certain extent.

1092
01:22:07,360 --> 01:22:08,480
And I appreciate that I do.

1093
01:22:09,120 --> 01:22:11,600
But this is too much in one prop.

1094
01:22:11,600 --> 01:22:13,360
This is too much in one prop.

1095
01:22:13,360 --> 01:22:15,680
No, no, props should be $5.7 million.

1096
01:22:15,680 --> 01:22:22,160
I mean, it kind of seems like words for the sake of saying words to bring across the punters to a yes vote.

1097
01:22:22,160 --> 01:22:22,800
You know what I mean?

1098
01:22:22,800 --> 01:22:26,000
Like no single prop should be over like whatever.

1099
01:22:26,000 --> 01:22:29,760
Say it's a million, say it's $700,000, say whatever the hell it is.

1100
01:22:29,760 --> 01:22:32,880
But anything that this is that this large at $6 million,

1101
01:22:33,440 --> 01:22:34,640
fucking break it up.

1102
01:22:34,640 --> 01:22:38,560
Since when did mesh security become like a priority of the hub?

1103
01:22:38,560 --> 01:22:41,920
I feel like this is already basically funding that anyway.

1104
01:22:41,920 --> 01:22:42,960
Yeah, I feel so too.

1105
01:22:42,960 --> 01:22:43,920
Is that in here?

1106
01:22:43,920 --> 01:22:44,800
Great call out.

1107
01:22:44,800 --> 01:22:46,160
Probably like the accelerated down.

1108
01:22:47,520 --> 01:22:52,000
And also like there are other people working on Atomic IBC as well.

1109
01:22:52,000 --> 01:22:54,720
Why will all the money go to informal?

1110
01:22:56,000 --> 01:22:56,720
Yeah.

1111
01:22:56,720 --> 01:22:58,240
Well, I mean, that's kind of the challenge, right?

1112
01:22:58,240 --> 01:23:01,360
When you have multiple teams working on the similar type of thing is how do you fund?

1113
01:23:01,360 --> 01:23:01,520
Yeah.

1114
01:23:01,520 --> 01:23:10,480
I mean, like it was a different team who actually did the spec for Atomic IBC initially.

1115
01:23:10,480 --> 01:23:13,600
So this and this multi-seg is, well, it's a multi-seg.

1116
01:23:13,600 --> 01:23:20,240
What the hell it is, but it's Stry Neutron, Avril from Neutron, Polkachu, somebody from Peridot,

1117
01:23:20,240 --> 01:23:25,920
Josh Akepler, somebody TBD, just Polkachu's intern who's gone rogue, finally gone fully rogue.

1118
01:23:25,920 --> 01:23:29,280
Yeah, I'm surprised that there's naming names on that.

1119
01:23:29,280 --> 01:23:50,800
I wonder what component of this has anything to do with that knowledge space.