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was the project like what what what would we actually do to fund this fucker like what is acceptable

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and you're like because this has all got a bit real i was kind of hoping we get a bit more time

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sitting around on beanbags talking about crypto cryptographic primitives but it's all become a

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job real quick you know welcome to game of nodes a weekly podcast from independent validated teams

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hello welcome to game of nodes a weekly podcast from independent validated teams and i don't

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actually know when that started so i can only assume that it was it was it was after anything

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hard we were saying horrible things in the pre show so i can only assume it was after then

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and and don't worry like if you did hear any of what happened before that no kittens were actually

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harmed in the making of usurpers thanksgiving meal don't worry about that it's not happened that was

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a joke there's an inside joke between friends no kittens you obviously have no idea when that started

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it isn't done about when you join i'm guessing yeah it's like immediately after i joined immediately

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let's go so um for those of you tuning in um yet we're back to full force disappointingly i i was

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listening back to last week's poddo and i have to conclude that the ad hoc panel assembled

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avengers assemble style um from from the wreckage of miscommunication uh was was a stronger panel

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than than the usual one so so well done null um that was a test um i'm glad to see you passed um

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that was fair i contributed very little to the conversation it was the final part of your

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of your fault tolerant and resilience module for your um node operations uh uh uh uh course so

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your your certificate is in the post you you're now an official operations guy you may now grow

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your neck beard at least three times that length um you must grow your neck beard at least two times

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that length so i was you say a length do you mean the hair itself or do you mean just further down

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is that is that what you mean so so so i'm uh yeah we were talking about sort of i guess with gravity

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right ah yes but if you do love about the neck beard is presumably the beard also just extends

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like passed down your adam's apple and just all the way down itself not the hair length but just

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where it grows it starts talking about the migrates it's this bit here isn't it so like i think specifically

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when you're working in operations this bit here could be clean shaven but this bit this bit requires

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this bit i mean that makes sense ultimately it would join up with my chest here i was i was

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literally about to say that i'm like it really should not be joining dear joseph i feel like they

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used to be i feel like they used to be a mode emoji for a neck beard and i'm not sure there is anymore

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maybe maybe i just hallucinated that in a fever dream um i i am prone to getting hallucinations

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when i get really ill so maybe maybe there never was a unicode emoji for neck beard but i feel like

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there was it was like a i was about to say it was like a guy with a big neck beard who looked like

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he worked in them oh it exists it exists for sure i'll link it yeah no you're gonna get you're gonna

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get a little treasure trail up there like great from here so big shout out to you guys for for

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coming on board last week because i didn't invite them they invited themselves so you know it wasn't

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necessarily me assembling them it was them assembling themselves and then you know getting me back out

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of ops to do the thing to hit the button already made it clear that we had cancelled it that it

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was not gonna fly so uh you know lots of twitter confusion later there we were and even urtima

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made an appearance for something like 10 minutes which is pretty cool that's new yeah one thing

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which was to mock the fact that we never let our guests speak and then and then left after that

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and then yeah i didn't need to talk and then he left so hey no worries but yeah that obviously

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inspired the the title of the title of today's show and you know honestly in terms of content i'm

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not sure we can offer you the same quality as last week we can offer you a drill tweet which will

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be coming up shortly um and my one disappointment actually uh if i was going to give you notes on

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uh last week now since i know that you must have been the rugger um was that right at the end there

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i felt like rama was really getting on to a good thread of how rama's get rich strategy works and

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maybe if we all followed it we were going to get rich and i was getting quite excited about his

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financial advice that he was giving lots of um because it was definitely financial advice um

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and i noticed he didn't qualify it is not financial advice so it definitely counts you know legally

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it's financial advice and i was looking forward to following that financial advice when presumably you

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uh cut him off and and i never found out what the um what the four week rama get rich strategy

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ultimately entailed when distilled how unfortunate i mean i couldn't i couldn't let him share his

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secrets then they might not be then relevant to him anymore after you know the market is saturated

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with little ramas running around doing the same strategy you're priced in right and it's no longer

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no longer alpha i love it there's um i i feel like shortsy also listens occasionally to like

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financial youtube or whatever there's like a um there's like i think it's a newsletter called

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like seeking alpha or something like that it's like a digest newsletter and um surely if like

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15 000 other people are more receiving the same alpha every day it ceased to be alpha no

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no sorry are we talking to me just back to our regular regular schedule program

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i should the shit i just call sorry i was uh just thinking about alpha so to give you some

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background on why i'm distracted i was uh sending some messages to code hands i have a really uh

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uh bit of an issue now with a validator that i run so talked about it a couple of weeks ago i got

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slashed on um kujira right it's like my only mainnet slashing and the way the kujira staking

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interface works is they put this big mark next to your validator name that's like this validator

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has been slashed before so people have been like you know running from the ship like rats on a sinking

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ship and i just don't think that it's really any point us running a validator there anymore because

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of that mark we're never going to accumulate any stake again so um there's a there's a mark like

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like that like in in the blue dot kujira staking interface they give you the black on a piece of

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paper you got the scarlet letter yeah it's like just this big square next to your name and i'm like

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you know saying the code hands like that was a mistake and a pretty fair one like i miscalculated

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the amount of signatures we could miss right yeah and and to carry that like forever now is just

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it's not reflective of our operations so i was asking code hands if they would consider

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um you know holding that mark for a certain amount of time and then letting it fade off

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rather than just keeping it forever because if it's going to be there forever there's no point

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validating that network anymore unless we start a new validator so um yeah uh there's a so there's

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a link there in the in the chat blue dot kujira dot network forward slash stake so we've already

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lost probably a third of our um stake since um since we got slashed and we are like right down the

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bottom the funny thing is on kujira the slash is next to nothing like most people would have lost

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sense and you know well that's a total injury that they're added to the bottom of the list right

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so now you're now slash now you're like truly the black sheep and they're like under a line yeah

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it's like yeah exactly and then there's no accounting for like if you paid everyone back

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it's just a number were you slashed yes now grand doesn't say did you pay people back yes like you

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don't get any you know it's just you're you're marked and i just don't see any point being there

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anymore once you're marked and it's like it's a bad look for our brand to have that next to our name

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so i don't oh i see slashes right down the bottom yeah yeah yeah look at that i'm amongst people with

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like nine and ten slashes you are otter sink and pressure and magic team and kingnotes crypto crew

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look at them they're there they must have just done that they have it no they've been slashed for a

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long time they they must have like some big delegators that are just like um committed to them because

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they look like they've been slashed for a fair while but they still have a fair amount of stake

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from memory well you just need to DDoS everybody else to make sure that they all slash or

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fuck them all up and then everybody's on the list yeah yeah i don't i'm sure she'll take one for

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the team for you to be down that bottomless with you having just gone slash absolutely not

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not doing it so kujira's always been labor intensive and and um running at a loss so

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you know to be labor intensive running at a loss and under the line yeah maybe it's time

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yeah too much of a headwind so yeah no parod is down here too with two damn damn yeah damn so i don't

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know what you guys think but that's that's kind of my opinion and um yeah i guess i'll see what

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coden says if there's no no way to make that you know more i agree it probably it probably should

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at least roll off like make it for six months or something but i i kind of agree with that

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or maybe a year i don't know i do i wish i wish i wish more teams would would utilize an interface

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like maybe not this exactly the slash thing which isn't bad actually i mean you got slash for kind

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of a shit reason because has nothing to do with actual producing blocks it's just the pegio thing

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but but um i do like this interface guy like i wish the min scan team would take a look and

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try to understand what it looks like to be able to try to create a distributed devalidator set

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min scan well i mean they only want an interface that makes themselves look good which they do

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they put themselves in that in that little box here's your top three somehow they're always in there

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yeah um i think it's also interesting they don't talk about what kind of slashing i would guarantee

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that all of the slashing events that happen there have been due to the price veiter which yeah okay

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that is a type of slashing but it's not the same as downtime slashing and kizhira's handling of

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oracle votes kind of sucks anyway right so it's like it's situations where go ahead if sorry if

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you look at uptime like we have probably the best uptime on there it's uh we don't we hardly miss a

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block there everyone else is sort of a couple hundred blocks in the window all the time um

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well it's also back to mechanism design isn't it we've talked about this before like if you're

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uh there's no slashing on on various other networks like aptos where some of us are there's no

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slashing there's no downs the point is you're not making money when you're down so you have a pretty

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strong incentive to not be fucking down right besides the fact that obviously people will get on you

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pretty quick if you're down as i'm sure anybody who's been down has discovered via the medium of

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twitter but there's like there are a variety of other solutions to this problem that don't involve

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slashing and also like i think that the slashing thing from a regulatory point of view is going

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to become more pertinent because the second people start looking at this as assets under management

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and then they go fuck wait people can lose money because you configure shit wrong oh dude right

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you're fucking kidding me like slashing is the fucking stupidest thing we could possibly do as

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a mechanism and it's really fucking stupid from the point of view of validated risk because

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what you want to do is say look we don't manage shit it is decentralized it is distributed proof

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of stake number one number two this is a high risk to generate activity right which is akin to gambling

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like raman said on the pottoe last week people are here just to fucking forget about their day job a

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bit yo those some coins see line go up right that's where you want to be from the point of view of

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regulation is you say look at the end of the day we're professionals running organizations

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which have experience in in building out distributed systems we run this infrastructure

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things go wrong but it's within the context of you know people need to understand their risk

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in this space right that's an even tougher sell when you're going not only they manage their own

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risk from like price volatility and whatnot they're also managing their risk because we're

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going to fucking get them slashed like it that's the one that really like slashing is is the only

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reason we're totally okay and it's totally fine because no regulator has a fucking clue what the

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cosmos ecosystem is right um that is funny though yeah i mean i mean the you know you guys

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center which the center which nobody has a fucking clue what the cosmos ecosystem we have no custody

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we're not we don't hold tokens we don't do anything with that so you can't affect anybody well

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a little bit there's one thing there's one thing if i if i close my eyes a bunch of people lose money

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but other than that i have no custody whatsoever like another whatsoever so i had a bunch of

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neat things last week last week this week fuck i don't even know i'm i'm tired man but uh and as

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you can probably hear from you coughing i've been very very all recently but the i was having some

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conversation with some people i won't dox who or what but whatever like it's always it's always

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always an account to me isn't it anyway but dox um there was a conversation about staking and like

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the extent to which the regulators do and don't understand it which is like in the uk the tax

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authority actually has you know a pretty comprehensive document on this right the extent

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to which the regulators understand it is much more fluid especially all the different types of

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staking considerations in different ecosystems right and so i had a number of meetings on a

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single day and there were it was really funny that in in between all these bits and there was a

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whole conversation about risks of staking and possible regulation coming down the pipeline

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and blah blah blah and and you know everybody else that was more informed than i was but the

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extent to which cosmos isn't even known about is i think it was block demon came up in the

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conversation and somebody was just like well you know like the risk that some an operator like a

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large player like block demon is taking on and i was kind of like oh yeah but they got slashed twice

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in cosmos and everybody was like huh yeah yeah they lost consumer funds because of this slashing

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event and there was like a sorry what's um you have to remind which which one's cosmos again i was

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like oh it's a whole ecosystem of blockchain it's like oh right okay sorry well that's him

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and i was like oh but also but also yeah no um but but yeah i guess kind of i mean that's the

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anyone you've heard of so um so on slashings and losing money there have been a spate of slashings

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in injective recently well like you know pretty regularly so but the like in the last week i

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would say maybe like i still so decent dot com on that one yeah very decent dot com that's um

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that's so like probably it's probably like truth and rate slashings and it's all pago it's all

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pago related pago here's my take on that all right hey i go to my team has to come out and say hey

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you guys are getting slashed a lot that kind of shows a problem with that's a that's a team issue

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right that there's a great occasion there like that seems like a you problem yeah if you're if you

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your configs are like your explanation is so bad that people are getting slashed seven times in one

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day i mean that's a my my argument is right like the odf the um open defi foundation has a lot of

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like you know staked coins in in injective why not make a bounty to fix it like you know if you

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don't want to do it yourself just like you're losing hundreds of thousands of dollars from

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from slashings just like make make a ten thousand dollar bounty or fifty thousand

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dollar and you know have someone improve it like i don't get it it's so easy to get someone to do

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that with a bounty and the problem with it is it's it's i'm sure it's not a difficult problem to fix

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it doesn't persistently um retry the the rpc after it gets a disconnect it'll like try a couple of

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times and then hang like why not just keep persist you know to try it like what operators have to do

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is just keep restarting the thing all the time so that you know if it does get a disconnect it'll

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come back like they still monitor successes and failures right no different than any other price

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meter so they could they should be able to be alerted other than yeah i mean the way i monitor it

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is to you know you monitor the network now it's in your own now it's and if they're different

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then you've got a problem but um you know you still then have to go and find out why and then fix it

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but if you just constantly restart the process then it'll fix itself anyway so instead of like

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i'll just say that i love the way you pronounced and once now i know every time i'm like oh

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how do you guys say and once what really oh because it stands for number once right that's what

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yeah i thought was i always pronounce nuns though oh because nuns in the uk nuns really specific thing

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what nuns means pedophile in the uk why is no it means it means it doesn't oh what no so there's

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a lot there were like there was a thing in a i swear to god we've had like four different

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conversations where you've said oh yeah that word meets pedophile in the uk like i thought like

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it like a board different terms like there are a lot of words for pedo in the uk

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they're they're they're gonna have a way different where i was like we're always bumping up some

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sort of pedophile definition there was obviously a big there was like a big pedophilia freak out in

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like the early 2000s like to the extent like the peak of it was when this this uh pediatrician

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like got attacked in the street or something by like a gang like a mob um it was it got super weird

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all the all the rig big stupid newspapers were like being big and stupid about being stupid

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but nuns is a really old word anyway um from memory but um but there was a thing in the papers

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right where i think there's like a hacker house in south korea called like nuns house um and somebody

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had just literally taken a photo they just walked past it on holiday taken a photo and sold it to the

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sun or something like that i've been like all right that's pretty funny um and then they were like

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nuns house in korea they're like what are they doing in there kind of thing and you're like oh

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it's crypto brothers jeez what are they doing there bring it down the economic order by with

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poorly tested code don't worry it's just economic terrorism it's not pedophilia

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relax folks relax folks it's not that bad um yeah but that's why i would pronounce it nuns but

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obviously then not you you have to you can't uh yeah so you just have to say i had once because

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yeah pedos once again sport by pedophilia um should we do drill sweet of the week yeah

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letting i'll do it i feel like it's nulls turn i'm getting a strong now learn stop give me that

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neck get that neck beard it's well now you've got your diploma your neck be a diploma okay ready

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stop right hand page third one okay be warned america first they get us fired from amtrack for

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saying jacking off in the control car is good next they start poisoning our wendy's okay moving on

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why do we we try

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yeah they're not all they're not all hits they're not all hits um do we have any news

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yeah so notional stuff what's going on yes 11 11 devs well you know initially the

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the time that all i read was 11 but this little update that long's put out says 13 now so i don't

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know if some more have left as well i thought in that first tweet it was nine keeps going up i think

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it does keep going up yeah number go up bullish it's bullish i like a lot of subversion of how many

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how many devs do notional even have i mean 14 14 now well there's one noisy crazy person and then

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13 devs there was a great tweet with obviously i had no idea sorry i'm gonna try and find the

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sweet so there's a treat that has like their their organization structure i'm gonna try and

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find it real quick because it actually showed how many devs and employees in marketing they had

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before and it was a lot it was at least 30 yeah i do recall um so i think notional might have made

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a tweet or i definitely do recall seeing something that said that they had like 30 or so devs or people

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at that company that's a lot of devs yeah like if you look on the notional ventures website

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you do scroll for a while to get through all of the people that work there i mean it's not even

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worth it's just it's it's like throwing a cat in a bin isn't it it's like it's like kicking a puppy

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at this point to be like i wonder what project management structure you have for hiring 30 devs

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in three in two years you know it's really hard to grow a team quickly even with really solid

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structures in a tech organization yeah so the news is is that now 13 devs have left uh notional and

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you know that represents some challenges for example uh the key rotations or the inability

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to do key rotations on cosmos chains so long was the infrastructure lead and holds a lot of the keys

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for the notional validators so um well and other things too right there was a bunch of grant related

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distributions and a bunch of shit that yeah i wouldn't mind betting that a lot of those people who

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have departed are on multi six as well so yeah well and i thought there was a tweet from

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him long as well around being able to somebody posted i think a screenshot which i can grab and

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throw in the notes but about being able to say he's been touched with his attorneys or something

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else is in to give those keys back and whatever else which means you kind of get to a point where

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those multi six are now a single sink because they're all in the same hands which they nothing

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doesn't mean that they were in the past either because right so i think we've we've complained

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maybe a bunch of times about about having multi six where the majority is on the same damn team

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and like what's the point like what are we doing and is a good example of that

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so what's the right way to say that long owns 13 percent of the stock in the company i thought it

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was 30 percent i thought it was 30 sorry that's what i meant to say 30 percent yeah which it sounds

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like he's giving that back as well um so i'm not sure if that is if it's actually stock i mean that's

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a transfer which means there'd be a it's cost of that hey tax discussion um but maybe not there

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and uh but yeah it sounds like he's he said he's giving that back so i'm not sure if there's a

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payment for that or what because that would have value of some sort yeah i don't think you can just

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give stuff away i don't know i don't know how that works for tax i only see three

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devs on there on their website oh it says it says made up of 30 plus dedicated members

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is that going down website eats an update oh you're counting the ones that actually have the title

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of dev well there's only there's only like 10 pictures on there about last page of which only

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three are engineers yeah so i mean does this does this matter at all it matters from i guess

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notional having a bunch of grants for a bunch of work that needs to be done and payments either

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influx or matters to that right because the hop has a an outstanding thing well quick silver

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quick silver posted something about it today i forget there was other teams too um that came out

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and had something like yeah it's not going to affect us type of thing so i think what i

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ain't got any any project that they're involved in um i didn't really see i didn't really look for

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jake and stuff but i didn't really see anything come back with his comments related to it um

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but it seems like being quiet is probably the best idea at least to start with till you have a

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bit more of a plan so what's interesting is that um since the departure of these employees

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notional have been jailed on several um networks as well yeah i saw i also saw that they were

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yeah they're missing in a bunch of stuff i saw like say i think they're they're they're involved

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in a bunch of stuff and say as well both with wormhole yeah yeah yeah like relaying wormhole

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yeah a bunch of stuff there i think they've been jailed on e-money injective i don't know about

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other ones but i'm not sure if that's a key issue or hopefully there's no like sabotage that would be

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that that'd be a little bit ridiculous but well it definitely wasn't they were they were jailed on

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pego yeah f***ing pego it's like just the worst everyone getting f***ing jake it's a big slash too

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yeah it's expensive just king nodes and notional everyone getting packed by pego everyone getting

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pegged yeah um so yeah i guess this i guess this isn't too surprising right i mean from a news

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perspective or well yeah i mean well well i guess i had never heard from like i talked along uh

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occasionally yeah and some of the other guys there and no one ever really indicated that they were

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discontent or whatever looking to leave yeah but um so a bit of a surprise in that regard but um

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you know people leave companies yeah usually not 13 at a time but yes they do well i mean steakfish

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had a bunch of people leave and start another company you tsugi yeah he did i think uh dimmy

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might have even gone there as well yep so there's dan and dimmy and a bunch of other people at uh

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utsugi i think is how you say it from memory i mean generally when you see like a masterparch or it

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usually means that an organization is in some degree of trouble just let's be honest yes yeah um

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either from a leadership perspective or financial or something else but yeah well it's there would

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it be evidently there is a disagreement on some sort of principled thing there to have that many

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people leave being paid i mean it could be it and i don't know yeah it's all just speculation

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no one said why they're leaving yeah yeah i mean i think i yeah like validator income is i don't know

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what the what the dev market's like in vietnam but validator income is likely not going to sustain a

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team of 30 um although they take a ton of money from the hub don't they so um plus other stuff

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so maybe that lads up to it to enough to cover it i don't know yeah i like that um people call it the

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notional hard fork hard fork yep nice there um yeah but anyway so maybe the root of the dispute

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was on a proper code comment etiquette or something whether or not you can commit um go mod tidy

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go mod tidy go mod tidy and on its own is not to commit that is a tidy up is um i mean to us your

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your linter should just so but on rust builds you it just does that essentially that for

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the build system does that should be a classic

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oh fuck no it's not going to be called notional classic great great comment from the chat there

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um yeah um so i mean there is other news that we yeah should we move on to other news because

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who gives a shit really um i'm sure to be honest i i guess what what would probably happen is all

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the devs that we're doing like the lion share of the work will will just pick up the maintenance

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contracts in the future um from the places that notional previously had them i guess and uh

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yeah and and the and the party will continue uh as it as it was always going to um maybe with

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a really good drama i mean we've left out kind of in my opinion one of the more interesting

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takes on it right what's going to happen with the what is 150 000 atom that was given to them that's

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now kind of sitting is there like that that was given to them over the next five years knowing

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that they would be doing some sort of development if they're going to do that development is there

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going to be a clawback prop coming up like how is that going to resolve itself because is it

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animal really fascinating is there a multi yeah and was there a contract like what was how was

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that given to them or was that matter this is the cosmos right prop 16 there was no contract

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and so we clawed well i don't even i don't even know the correct state of prop 16 funds let's just

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say that somebody is currently writing a paper right and and that whatever whatever happened

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to the situation you're describing will be watched closely by the person that is writing this paper

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to see what happens because it's interesting isn't it um it's yeah i mean i i actually i

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to be fair i don't remember it's far enough in the past i don't actually remember the terms of

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that but from what i remember the the tokens were given wholly too notional essentially as an advance

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on work right so yeah if i remember correctly yeah a legal perspective those assets now belong to that

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organization and i don't think there's in any enforceable contracts in any court now that

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could say that there anything other than a down payment on work essentially a retainer it will

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be the cosmos kangaroo court that is governance what have something to say about it oh boy i think

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this is this is one of those where um yeah the split the difference in a fudge uh is is probably

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the actual outcome um as it's the only thing that is kind of defensible to a mob and also

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potentially defensible to a legal authority but it's interesting isn't it like possession is

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nine-tenths of the law unless you're on a proof of state chain right well yeah and then if you take

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into account that jay would might vote yes on a prop to clausland's back just for the sake of

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watching the world burn and to make adam look worse like that's like what is it 12 of the entire

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voting power right there so fascinating stuff fascinating stuff well yeah well i mean it's

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interesting because right most validators whatever they think are going to vote no right on the principle

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of like this is prop 16 but it i guess the thing that's different now is we're in a bear market

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there's less attention from kind of rank and file like djens and also the proportion of people

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staked through a custodial staking provider like kraken or whatever it might be on the hub is that

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much higher so and those wallets aren't voting right and those validators wouldn't vote on something

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like this so it would be interesting to like academically interesting to know what like how

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differently the voting would break down versus what we've seen elsewhere in the cosmos where

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there are more active individual wallets and inverted commas because obviously you know we

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they're individual wallets but they could also be the micro whale you know just to reheat that

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conspiracy theory which is definitely not conspiracy theory in the micro whale definitely

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exists the micro whale absolutely the micro game of notes has been party to to decent information

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on the possibility of the micro whale actually existing so i am a firm i'm a firm believer

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that's real i don't believe in ghost stories but i do believe in the micro whale of course there's a

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micro whale god damn but yeah so that's my take i'm curious what's gonna end up with that with that

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funds um yeah uh bed davis there's no way the hub goes beyond the signaling prop well as you might

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recall technically prop 16 was a signaling prop so it only takes a signaling prop to get everybody

328
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said to jail anyway yeah i might just you know hold off on finishing up this paper until we see how

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that one thrashes out because that that could be some that could be a really great case study anyway

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um oh wait hang on somebody's added another line to this spreadsheet since i last looked at it

331
00:34:18,400 --> 00:34:22,320
that usually happens there's another line there's another line about about crypto

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regulation coming for us node operators oh that wasn't there that wasn't when we started doing the news

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maybe maybe rama's on here expanding the news section as we speak maybe i just hallucinated

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that it it wasn't what um okay um so one thing actually so before we move on to the next news

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news item uh i know it came up last week the rama's concerns with usdc um something something

336
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that i noticed i don't know if this is true of i don't know which state which central bank digital

337
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currencies this is true of i think it's true of the perspective swiss design and i think it's true of

338
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the bank of england's uh tech working document but the blocked wallets is explicitly because it

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okay like it came up last last week when ben and rama were talking about it in the light of usdc

340
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which i think is the next new news item on the list the idea of having um like a block.go or

341
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similar sort of thing um is explicitly out of scope of the design like you should always be able to

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spend the funds but the regulate as i understand the regulatory um stress is on the is on the

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essentially the recipient at the point that they then withdraw funds so you know it's obviously a

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very very different uh case like because there's obviously fully centralized and they are cbdc's

345
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in the truest sense but um it's kind of kind of an interesting thing that like a lot of these

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sort of decentralized versions of the stablecoin are likely to have like exactly the same um restrictions

347
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on spending but like implemented in a really different place in the in the technology stack

348
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and it's just a bit of a shower for anyway so um i'm going to read rama's title in full cosmos

349
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welcomes the uscbdc with open arms how long until the first blacklist event oh he does love that

350
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comment it's just weird to me he does that comments weird to me anyway because osmosis already has a

351
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blacklist so the blacklist event has already happened and now we're just going to get expanded

352
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like who cares maybe that's maybe that's the hot take yeah like i think rama is a decentralization

353
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maxi and doesn't like the ability to freeze funds but what about usd t does it have also the ability

354
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to freeze funds on carver i think maybe i think it's no isn't it that it can stop you actually

355
00:36:48,960 --> 00:36:58,240
sending like it anti-handlers out the send my question is osmosis did it my question is is

356
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if you have a blacklisted wallet on noble does that stop you from using tokens on other networks

357
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that have been i bc'd so if half your bag was on osmosis and it gets blacklisted from noble like

358
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i don't think it would matter because the the the ability to transact is done locally at chain

359
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level right 100 it's it's conceptually the same it is conceptually the same as um it as an aside

360
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right this is my understanding of why the swiss design works the way it does is because they have

361
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offline like a notion of offline access to um the the currency right and in that world you can't

362
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ever know that somebody who shouldn't like let's put aside whether or not you think some people

363
00:37:51,680 --> 00:37:58,000
should be able to transact or not right if if you actually do want to implement any kind of a

364
00:37:58,000 --> 00:38:03,600
block list ultimately the place you have to do it is at the ingress and an egress from the system

365
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because it's the only place you know that they're they are connected at all times and it's the only

366
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point it's the only single point of passage where you know somebody has to come in and out

367
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which is why the question of whether or not you can move in out of cbdc's via permissionless

368
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network is so interesting because as you've identified now that guarantee breaks down

369
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because you can just move to another blockchain then another blockchain then to a centralized

370
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exchange and then it's up to the centralized exchange to work out whether or not you are a

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great guy or not which is primarily i suppose can be like i guess if you're like a business or

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something it's never going to affect one of us because we're just businesses right they're just

373
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going to assume that if you have a business account everything's above board you've done your kyc you

374
00:38:50,560 --> 00:38:56,960
probably fine right so i don't know if it's maybe it's being flipping as somebody who kind of represents

375
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a business working in the space but it seems like a bit of a nothing burger you know yeah 100% i think

376
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it's entirely unenforceable because unless you have your tokens on noble and they've

377
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have blacklisted your wallet or frozen it that you can't use those tokens anymore i mean in reality

378
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95% of the usdc is going to live in the bloody escrow wallet anyway so you know people aren't

379
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going to hold it there they're going to be using it elsewhere in defy so i mean and so easily like

380
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can be mitigated even if you wanted to send it back out through noble you could like just swap it

381
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send it to another address on osmosis and then straight back out before they would even have

382
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time to blacklist that address so i don't know i'm also curious what the blacklist mechanism

383
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looks like because surely it doesn't require an upgrade to add something to the blacklist

384
00:39:49,360 --> 00:39:56,880
so now i think it's done by admin i feel like i'd have to look at the code to make a more educated

385
00:39:57,440 --> 00:40:02,400
comment then because obviously i'm pretty sure rama posted something about this way back when

386
00:40:02,400 --> 00:40:08,800
they did the launch about the admin being able to um blacklist addresses

387
00:40:11,120 --> 00:40:17,200
so there's a contract admin on noble but so this is obviously very different than from the osmosis

388
00:40:17,200 --> 00:40:22,400
implementation if it's some kind of a hash map of blocked addresses that can be added to there is a

389
00:40:22,400 --> 00:40:27,600
question i suppose of whether or not that should be a dowl um at the risk of like you know summoning

390
00:40:27,600 --> 00:40:35,200
jake um the if it if there's some kind of element of um of decision but then but then

391
00:40:35,200 --> 00:40:40,800
fuck the like who wants to be on that dowl like the sticking your neck out to be absolutely

392
00:40:40,800 --> 00:40:46,720
hammered by law enforcement dowl yeah no thanks i think it would only be like it's not catching

393
00:40:46,720 --> 00:40:53,680
it it'd be some sort of corporate entity for us dc i would say that if they were ordered to

394
00:40:53,680 --> 00:40:58,560
blacklist something by the government they could do it yeah i guess you kind of need like an auditor

395
00:40:58,560 --> 00:41:03,840
or a kyc i mean this is kind of the fucking this is literally back to what circle do this is this is

396
00:41:03,840 --> 00:41:09,600
literally circle a circle or an auditor slash kyc company that happened to run a sht I stablecoin

397
00:41:09,600 --> 00:41:15,840
i need to say sht coin i meant stablecoin but maybe i mean sht coin um so maybe your circle

398
00:41:15,840 --> 00:41:20,800
does easy to add that as a service on their website like we will for a percentage of tokens will

399
00:41:20,800 --> 00:41:27,040
will be on the dowl that are definitely going to go to prison please adopt usdc um where are they

400
00:41:27,040 --> 00:41:31,200
based they're based in the states aren't they circle usdc law they're based in the states yeah

401
00:41:31,920 --> 00:41:39,200
yeah how do they get away with that it's well eventually it won't i'm sure it's a matter of

402
00:41:39,200 --> 00:41:45,280
time like all things it's all it's just they haven't got to that part of the list yeah it's

403
00:41:45,280 --> 00:41:49,360
just it's coming down in their way down stuff yeah we've got this like they're like something

404
00:41:49,360 --> 00:41:54,000
something something something something something something validator something something stablecoin

405
00:41:54,000 --> 00:41:59,760
yeah like rhinos on the list you know the meme the meme of the guy like behind the tree like

406
00:41:59,760 --> 00:42:05,440
clicking this chops going like that's them when they see stablecoin on their list that's right

407
00:42:05,440 --> 00:42:10,800
nature of business they're like stablecoin they're like oh yes depends on the dpegs are they profitable

408
00:42:10,800 --> 00:42:18,160
so ben ben davis says he's going back to ust and there's been a recent resurgence in the price of

409
00:42:18,160 --> 00:42:24,000
ust so it was up to five cents at some point so it's substantially below a dollar isn't it

410
00:42:24,720 --> 00:42:30,880
hey it's moving in the right direction yeah as long as you buy that point zero zero zero five cents

411
00:42:30,880 --> 00:42:37,040
you're fucking making well didn't didn't you have a large bag of oh no it was uh the the luna classic

412
00:42:37,040 --> 00:42:44,880
that you bought up on the on the way down yeah yeah yeah we bouncing for sure artifact well i think i

413
00:42:44,880 --> 00:42:50,560
dumped like a bunch of chihuahua and it was like that whatever yeah one for the other i think i sold

414
00:42:50,560 --> 00:42:57,040
uh our holdings of kerb um yeah or maybe that's what it was it was servers it wasn't sure yeah we

415
00:42:57,040 --> 00:43:02,800
we just dumped it all the way down just like it was it was like i don't know five hundred dollars

416
00:43:02,800 --> 00:43:10,240
worth of kerb it was like 28 million luna exactly on osmosis because obviously the i bc stuff was

417
00:43:10,240 --> 00:43:16,000
totally locked already and now and then there was a period of time where it still was on osmosis but

418
00:43:16,000 --> 00:43:20,400
had like an exclamation mark where it was it was sort of frowning at you it's like look you fucker

419
00:43:20,960 --> 00:43:26,160
we know that the only people that bought this on the way down a disaster tourist and you're one of

420
00:43:26,160 --> 00:43:31,200
them and we are not fucking unlocking this and we are not going to let you trade it even it is only

421
00:43:31,200 --> 00:43:36,960
worth a fraction of what you bought it for even then even though you lost money on this degenerate

422
00:43:36,960 --> 00:43:42,160
activity we are not happy about you having done it when you get the osmosis 2d gen flag you know

423
00:43:42,160 --> 00:43:46,720
you're in some fucking deep waters there they even got a frontier right like that's all fine

424
00:43:47,440 --> 00:43:51,600
yeah we don't need that shit just what what all right but this one stay away from this one

425
00:43:52,320 --> 00:43:58,880
2d gen that's the one 2 2 gm for osmosis um as you fact two out of four of the panel as well i think

426
00:43:58,880 --> 00:44:06,480
that technically makes game of notes 2d genera for osmosis um too funny i just read ben

427
00:44:06,480 --> 00:44:13,120
but in the chat ben's last comment and my brain just fully exited the building on account of it

428
00:44:13,120 --> 00:44:19,120
being a complex football analogy and it's just like football i'll put them in time out time out

429
00:44:19,120 --> 00:44:25,920
it put them in time out for that one uh come on it's getting late we don't do that here right so

430
00:44:26,560 --> 00:44:34,320
completely unrelated the uh oh no all right different tangent off you go oh yeah the new

431
00:44:34,320 --> 00:44:45,200
fargo uh series is is yet another banger just in case you were wondering okay sorry i get distracted

432
00:44:46,240 --> 00:44:51,120
i'll shoot i'll shoot if we if we're doing if we're doing tangents uh we didn't we didn't talk

433
00:44:51,120 --> 00:44:56,880
about so no you can if you want to go think about fargo for a second this is this is your time um

434
00:44:56,880 --> 00:45:04,000
fargo is brilliant all right the the apto stress net uh wrapped up last time just before

435
00:45:04,000 --> 00:45:12,640
thanksgiving um what was learned vfm's nothing in the new world they're totally toast

436
00:45:15,200 --> 00:45:20,480
they learned i think they learned stuff i think they learned stuff um we i don't think we can

437
00:45:20,480 --> 00:45:28,560
talk about some of the specifics but yeah something you chain go burr you know yeah actually the

438
00:45:28,560 --> 00:45:32,560
interesting piece of that was them talking about doing it again in february which is pretty short

439
00:45:32,560 --> 00:45:37,280
here like i'm like well maybe i'll just hold on to these machines it's only i think i'm i'm paying

440
00:45:37,280 --> 00:45:42,160
through them through mid december it's only an extra month we've already cancelled us yeah i i cancel

441
00:45:42,160 --> 00:45:47,840
up why the it was just like yeah it's a vital friend another week and also it's beyond like um

442
00:45:48,640 --> 00:45:56,080
we were using a company called hostkey uh to get hold of those epics and the experience of using

443
00:45:56,080 --> 00:46:01,920
them was not it was fine but it was not great um yeah yeah we had one of our vfm's was on there

444
00:46:01,920 --> 00:46:07,040
yeah the vfm's we had just like the fact that they were like clocking like 70 degrees or something

445
00:46:07,040 --> 00:46:12,800
so i don't think they had that they were not like the cooling was not top-notch and whatnot they

446
00:46:12,800 --> 00:46:18,880
were they were totally fucked so um i think our ovh contacts were saying that they should have some

447
00:46:18,880 --> 00:46:26,400
epic nine they do have epics available in any three years of entry as of this month um or early

448
00:46:26,400 --> 00:46:34,800
december so i think if there is another another preview network we they are the the scale series

449
00:46:35,520 --> 00:46:42,400
scale scale sixes or whatever they call the new new ones i believe not too expensive either

450
00:46:43,040 --> 00:46:49,920
yeah they're comparatively priced given how powerful they are um so i think if we were our main takeaway

451
00:46:49,920 --> 00:46:57,040
for that is we would not have if we're gonna do that again wouldn't spec vfm's really much lower

452
00:46:57,040 --> 00:47:03,200
than the the vows at all like maybe slightly lower but they they seem to be really having

453
00:47:03,200 --> 00:47:08,000
trouble with with that pruning and it seemed to be pretty resource intensive well they also

454
00:47:08,000 --> 00:47:13,200
they also said they had some vfm code issues as well so i don't even know at the end i thought

455
00:47:13,200 --> 00:47:19,760
i think the last couple runs they they were fine uh on that last build so i i think you're right i

456
00:47:19,760 --> 00:47:24,640
i hate to do two times what we had because that would be just really pricey yeah well i mean

457
00:47:24,640 --> 00:47:28,400
it's new we might have to do that right because the other the other thing we're hearing now is that

458
00:47:28,960 --> 00:47:34,160
main net spec uh recommended spec is increasing but you know the there is a question here of like

459
00:47:34,160 --> 00:47:39,840
you know not being too facetious about it but uh if a foundation is like well we think the base spec

460
00:47:39,840 --> 00:47:46,720
for this chain should be this but it you know if the main net is not doing the numbers to require

461
00:47:46,720 --> 00:47:53,920
that then you know that's a that's to to there but yeah like this this is where we want to be but

462
00:47:53,920 --> 00:47:59,120
realistically this is where you need to be like yeah but but to the to their point like when we do

463
00:47:59,120 --> 00:48:03,200
have spikes of like a thousand tps or something that like i don't know some mint or something else

464
00:48:03,200 --> 00:48:08,720
there's like 10 10 12 that drop like i just fall out of the set like every time like you can actually

465
00:48:08,720 --> 00:48:14,320
monitor it and so so i i don't think i mean i'm guessing even some people are running way low

466
00:48:14,320 --> 00:48:21,280
specs on there like we run 73 13s i think is what we run um and uh and which is which is fine for

467
00:48:21,280 --> 00:48:28,160
right now um but but i could see like but again and also that that new consensus engine and some

468
00:48:28,160 --> 00:48:32,000
of the stuff they're doing in the sharding piece i thought it was using a little bit more resources

469
00:48:32,000 --> 00:48:38,880
than the old way um so maybe the base is about the size of the discs for sure yeah it there's

470
00:48:38,880 --> 00:48:45,040
there there's definitely something because we were monitoring like the actual disc usage and no

471
00:48:45,040 --> 00:48:51,840
where no time at any point did we really come up anywhere near one terabyte right yeah used space

472
00:48:51,840 --> 00:48:58,560
and yet a one terabyte drive which had plenty of headroom performed so much worse than the two

473
00:48:58,560 --> 00:49:05,040
terabyte drive than a four terabyte drive yeah and you know looking at the pure spec sheet

474
00:49:05,040 --> 00:49:10,640
those drives should have been functionally identical same manufacturer same iops and everything

475
00:49:11,440 --> 00:49:16,960
but there's obviously something about the amount of headroom you have and i'm too much of cloud weenie

476
00:49:17,680 --> 00:49:28,160
so a couple of rando rando ask questions how big is like this database on aptos is it like over

477
00:49:28,160 --> 00:49:32,800
it's down to like no it proves down to like 300 gigs something like that so like have any of you

478
00:49:32,800 --> 00:49:38,640
guys just tried running it in ram uh i haven't we talked about that actually i talked about that in

479
00:49:38,640 --> 00:49:42,080
preview night actually we were i was talking to somebody because i had one machine with like

480
00:49:42,080 --> 00:49:45,440
768 we talked about that actually just run the whole thing in ram seeing what would happen

481
00:49:46,080 --> 00:49:53,120
the the a6 can have a terabyte of ram scale a6 terabyte yeah that's a pretty interesting idea

482
00:49:53,120 --> 00:49:59,120
you could also raid zero like six nvmes on that thing that's that's what i did yeah yeah we had

483
00:49:59,120 --> 00:50:03,520
actually we had a pretty big issue with it i think we talked about last week but we had a big issue with

484
00:50:03,520 --> 00:50:10,000
five drives raid raid zeroed and and had like a really weird epic like it was really weird where

485
00:50:10,000 --> 00:50:14,320
we'd have like really high latency on some drives it was like really funky and once i got rid of

486
00:50:14,880 --> 00:50:20,320
md80m and just went to lvm then then actually it all kind of cleared up it was really kind of

487
00:50:20,320 --> 00:50:26,800
strange i think it's just like new chip new bios like too early type stuff but so this this scale a6

488
00:50:26,800 --> 00:50:32,480
you can also get an unmeted 10 gig line which is pretty decent i know i just actually i just

489
00:50:32,480 --> 00:50:36,640
stood up five machines in this data center that we use in new york and they're all on 10 gigs and i

490
00:50:36,640 --> 00:50:43,840
had to grab a bore snapshot it was like 5.4 terabytes was like fucking just blasted in there i love it

491
00:50:44,880 --> 00:50:51,760
that was crazy is that in uh in your racks did you end up getting a 10 gig no no i'm at we're

492
00:50:51,760 --> 00:50:56,240
we're talking a lot about what we're gonna do with those racks like just because i'm running

493
00:50:56,240 --> 00:51:00,000
less and less and less there and so i'm trying to figure out what what the long-term plans

494
00:51:00,560 --> 00:51:06,160
anyway i like you might sunset the old uh i'm just gonna i might i might shrink them i might just

495
00:51:06,160 --> 00:51:11,840
because we have like i think like total 20 machines running and i might try to get that down to like

496
00:51:11,840 --> 00:51:20,880
six i think we like king nodes is still considering operating some some of your rack space so yeah

497
00:51:20,880 --> 00:51:26,800
you can yeah there's space is fine running hardwares with fucking pain yes i tell everybody don't do

498
00:51:26,800 --> 00:51:32,160
it like we had an nvme drive burn out today which is just a pain and like it's just it's just it's

499
00:51:32,720 --> 00:51:36,240
it's exhausting like it's just shit like i don't want to be you don't want to be on it you always

500
00:51:36,240 --> 00:51:41,680
want to run it hey before i gotta i gotta run quickly but um one thing i did want to say is we

501
00:51:41,680 --> 00:51:48,240
are going to been talking to the omniflux team get actually reached out to us and so we're going to

502
00:51:48,240 --> 00:51:54,800
be publishing uh game of nodes at least the youtube piece on omniflux tv every week we're

503
00:51:54,800 --> 00:52:00,400
going to add that to our structure so the only thing i can't do without actually talking to them

504
00:52:00,400 --> 00:52:06,480
about a little bit was it'd be nice if we could create uh if jake's here actually it would be nice

505
00:52:06,480 --> 00:52:09,680
if we could create because you can create like a creator account and then you can create like

506
00:52:09,680 --> 00:52:13,920
uploader accounts through that which is really cool it'd be really great if the creator account

507
00:52:13,920 --> 00:52:21,040
was through the was through the doubt yeah um and then after that we could create a um a uh

508
00:52:22,240 --> 00:52:25,760
then i could upload right or any of us could upload uh associated that but the creator account

509
00:52:25,760 --> 00:52:29,920
would be cool because then we can set like just the overall logo and also the kind of shit and

510
00:52:29,920 --> 00:52:34,960
then um from there it the be uploaded everything else just through ipfs which we're very familiar

511
00:52:34,960 --> 00:52:38,480
with um and setting the metadata and all that kind of stuff so i think we're going to start with

512
00:52:38,480 --> 00:52:42,960
this one which is episode 90 uh and that one will be the first one up there and i've been talking to

513
00:52:42,960 --> 00:52:46,480
them is also and then we're going to come up with a way to be able to then talk about how we're going

514
00:52:46,480 --> 00:52:50,960
to get the other 89 up there and i want to do it in a way that looks good and is sorted the right

515
00:52:50,960 --> 00:52:58,960
way and not fucked up right so we've been talking about that as well um no fucking crazy right yeah

516
00:52:58,960 --> 00:53:05,840
so um so anyway that first one i'm going to try to do um maybe tonight or tomorrow and um and then

517
00:53:05,840 --> 00:53:10,800
i see jake reaching out that would be cool if we could do that um and really all we need i think

518
00:53:10,800 --> 00:53:17,600
it's just us it's just through the omniflux ui and it's just a creator i think we'd need like

519
00:53:17,600 --> 00:53:22,480
basically two transactions to be able to create the creator account and then to be able to create

520
00:53:22,480 --> 00:53:26,720
i think an uploader to start um and then from there i think i can upload everything and create

521
00:53:26,720 --> 00:53:30,960
metadata for it and everything else but it looks i mean like like we've been talking about before

522
00:53:30,960 --> 00:53:36,080
with the omniflux ui's it's pretty slick it's pretty cool it'd be nice to be able to have that at least

523
00:53:36,080 --> 00:53:42,400
somewhere um within the cosmos ecosystem and then we can link out to that directly um and we can

524
00:53:42,400 --> 00:53:46,880
capture views and if we want to do like other silly stuff in there which which is and that's not

525
00:53:46,880 --> 00:53:50,560
silly it's silly for us it's actually cool functionality but like doing polls in there

526
00:53:50,560 --> 00:53:55,840
are other types of things would be fun um and so uh but yeah we're gonna we're gonna start doing that

527
00:53:55,840 --> 00:54:01,680
just adding a little bit more workload for us you know it's all good and uh it'd be it'd be great

528
00:54:01,680 --> 00:54:07,440
um it'd be great to be able to find a way to uh auto upload those or find a way to at least

529
00:54:07,440 --> 00:54:12,000
kind of make that easier and so i'll um we'll work on that and see what happens eventually

530
00:54:12,000 --> 00:54:16,720
i'd like i mean a long-term plan what i really like to do which i think would be really cool

531
00:54:16,720 --> 00:54:20,560
is for the podcast right now we use a third party to host that and it's all they're doing is hosting

532
00:54:20,560 --> 00:54:24,880
the metadata right it's just an rss feed it's totally available us for us to be able to do

533
00:54:24,880 --> 00:54:31,440
but it'd be great to put those podcast episodes and ipfs as well for us to run our own hosting site

534
00:54:31,440 --> 00:54:36,720
build our own rss feed and then we can link that to ipfs um and it have that be distributed as well

535
00:54:37,360 --> 00:54:41,840
that's on the plan we just need to come up with like a website design and podcast rss feeds are

536
00:54:41,840 --> 00:54:47,040
just not very different hold holding you consensus engine and blockchain just do if we back up from

537
00:54:47,040 --> 00:54:51,120
there you're right we need a new chain we need l one we just think about this but yeah then we got

538
00:54:51,120 --> 00:54:55,120
to back up from there so i guess we have to talk about the tokenomics of the podcast i guess is

539
00:54:55,120 --> 00:55:01,120
what we need to first start with i get to the u.s all that done then we're going to begin actually

540
00:55:01,120 --> 00:55:08,320
news just in the dowes broke the dowes broke you break it broke this month we're broke after we pay

541
00:55:08,320 --> 00:55:14,320
rama um as luck would have it i anticipated this in advance and i left some money in a

542
00:55:14,320 --> 00:55:24,400
in an exchange ready to put into atom center osmosis by usdc piss off rama and put it into our doubt

543
00:55:24,400 --> 00:55:32,080
well maybe you can be helped by the new cctp cctp pretty cool yep pretty cool man that

544
00:55:32,080 --> 00:55:40,560
fucking that's uh cctp.money is is money what is this right that is the implementation of

545
00:55:40,560 --> 00:55:50,080
circles um transfer protocol which is basically a non-bridge bridge of usdc between l ones

546
00:55:50,080 --> 00:55:55,120
and like there's a bunch of those like wormhole portal and a bunch of the ones use that same

547
00:55:55,120 --> 00:56:01,760
cctcctp protocol and then noble just enabled it and so none of the other i don't at least i haven't

548
00:56:01,760 --> 00:56:09,360
seen any of the other quote unquote bridges or cctp portals have noble in there yet but cctp.money

549
00:56:09,360 --> 00:56:15,280
does which we think is uh i forget who we found it was who was it i forget who it was it's somebody

550
00:56:15,280 --> 00:56:24,080
from the strange love team and um so that allows basically free or free zero dollar bridge because

551
00:56:24,080 --> 00:56:31,120
you're really just bridging usdc between smart contracts on two different chains um and noble

552
00:56:31,120 --> 00:56:40,160
can go right now between ethereum uh dydx terra persistence cosmos hub juno and stargaze are all

553
00:56:40,160 --> 00:56:46,080
on there which is pretty cool i mean some of those seem like i i b i bc versus an actual bridge but

554
00:56:46,080 --> 00:56:53,680
whatever right if you have dollar eds in a centralized exchange you're still like it has to be

555
00:56:53,680 --> 00:56:58,400
in a personal wallet this doesn't mean it doesn't help you you can you can move it to a you can move

556
00:56:58,400 --> 00:57:02,080
it to a centralized exchange assuming that there's no memo fields that's where the dollar eds are

557
00:57:02,640 --> 00:57:06,400
if they're if they're coming out of a personalized exchange yes you would not be able to do that you

558
00:57:06,400 --> 00:57:13,920
have to basically move out to it we have some apt ready to pay uh pay the kanga dude you have money

559
00:57:13,920 --> 00:57:20,320
coming in uh one of those in it's left everything here right now is slowing the other way yeah so

560
00:57:21,280 --> 00:57:25,840
but yeah pretty cool it's it's um there's no code for this out i didn't see anything in the source

561
00:57:25,840 --> 00:57:34,160
code available um you know take a look for what you will it is using cctp um and uh which has

562
00:57:34,160 --> 00:57:40,400
been pretty tested here but maybe not with uh you know with noble uh no ledger support yet

563
00:57:40,400 --> 00:57:47,040
i tried it last night failed but uh but yeah pretty cool rama's asked whether he can instead be

564
00:57:47,040 --> 00:57:55,040
paying kanga bucks um unfortunately rama rm our roadmap for implementing a uh blind proof based

565
00:57:55,040 --> 00:58:01,120
cbdc that we could pay you in anonymously uh it's about three years so if you're prepared to

566
00:58:01,120 --> 00:58:08,960
wait and accrue a bit of interest um then i can furnish you uh i maybe a bit less if you're

567
00:58:08,960 --> 00:58:13,520
prepared to use the command line we could make we can maybe work something out i can i can i could

568
00:58:14,160 --> 00:58:20,960
issue some some proofs and you can redeem them with your central bank if they agree the most

569
00:58:20,960 --> 00:58:27,120
genuine kanga bucks available is actually beer so that's probably more of a versatile currency in

570
00:58:27,120 --> 00:58:32,560
australia so technically i could could take you to the pub rama and pay you in schooners

571
00:58:32,560 --> 00:58:37,760
except i don't know how the rest of the the squad is going to contribute to that that's a lot of

572
00:58:37,760 --> 00:58:44,720
beers as well i mean i've seen waking fruit really not in australia i'll see you sir i

573
00:58:44,720 --> 00:58:51,280
well i don't know like what's what's the going rate for a schooner of beer wow pints like a pint

574
00:58:51,280 --> 00:58:58,960
of the good shit is like i don't know 15 bucks and what's 15 bucks in in freedom bucks

575
00:59:00,400 --> 00:59:06,800
10 bucks that's still quite a lot of beers well they met a good a good weekend's drinking

576
00:59:07,360 --> 00:59:14,080
you could maybe you can maybe sink that out i don't know like we it's yeah i don't know you

577
00:59:14,080 --> 00:59:20,800
can easily spend 200 bucks in a night though 200 us is 300 bucks maybe yeah i mean you can

578
00:59:20,800 --> 00:59:27,120
give it a stab those they they they rack up quick man it doesn't take much to have like at least 10

579
00:59:27,120 --> 00:59:31,760
pints you can tell that you can tell that that i don't leave the house very much anymore because

580
00:59:31,760 --> 00:59:38,080
i'm just like but but but in between getting the baby to bed and then when i run out of energy and

581
00:59:38,080 --> 00:59:45,520
i just want to be asleep myself there's only enough time to physically drink two liters of

582
00:59:45,520 --> 00:59:52,160
liquid which is four pints like how how could you have 10 that would involve being up later

583
00:59:52,160 --> 00:59:59,120
or not in your house for longer mm it's our bizarre concept although i have noticed now that the one

584
00:59:59,120 --> 01:00:04,800
beer at lunch time when you're in the office has become we can have one more because i only tell

585
01:00:04,800 --> 01:00:08,480
me around the house you're like this is fucking great let's have another beer with lunch and then

586
01:00:08,480 --> 01:00:13,520
you wonder why it's like 2 30 in the afternoon you've done fuck since you got back and you're like

587
01:00:13,520 --> 01:00:18,880
yes because i don't drink anymore and i've just had two beers so i'm fucking drunk and just wasted

588
01:00:18,880 --> 01:00:26,960
an afternoon let's go before being full-time crypto the only bar to me not getting wanker during

589
01:00:26,960 --> 01:00:32,800
the day was the fact that i had to drive home at some point so yeah i've noticed that you see

590
01:00:32,800 --> 01:00:37,120
that's the thing like you can you can trick yourself when you ride when you you get on the bike

591
01:00:38,160 --> 01:00:41,760
but i've noticed there's definitely a limit about four pints and you start to go

592
01:00:41,760 --> 01:00:47,120
hmm this might not be safe i probably should have got literally any other can you not get a

593
01:00:47,120 --> 01:00:53,520
dui riding your bike while drinking in the uk and you can't in australia you can't you get a

594
01:00:53,520 --> 01:00:58,000
dui you can't get your license revoked kind of thing riding a bike has nothing to do with driving

595
01:00:58,000 --> 01:01:02,400
a car they're different activities yeah i think in australia you would only get you get a wine

596
01:01:02,400 --> 01:01:08,800
riding a bicycle drunk you get fine if you hit somebody and you're drunk you go to prison on a

597
01:01:08,800 --> 01:01:13,440
bike okay and the us you can get your license revoked if you're riding your bike and drinking

598
01:01:13,440 --> 01:01:16,880
i think if you like i think i genuinely own somebody can correct me on this i think if you

599
01:01:16,880 --> 01:01:20,320
hit somebody with your bike because you were drunk while riding your bike you would go to

600
01:01:20,320 --> 01:01:24,800
prison but you would keep your driving license because they are separate data points you're like

601
01:01:24,800 --> 01:01:30,640
you're an idiot cyclist but you might be a very very very sensible car driver and vice versa although

602
01:01:30,640 --> 01:01:35,360
of course you lose your driving license and you just continue to cycle so you know yo though i think

603
01:01:35,360 --> 01:01:40,880
our system is more archaic and that if you're riding a bike similarly if you're riding a skateboard

604
01:01:40,880 --> 01:01:44,720
and you're drinking you can get your driver's license revoked because if you're on something

605
01:01:44,720 --> 01:01:50,640
that's not feet then you are driving a vehicle and that it's just it's black and very black and

606
01:01:50,640 --> 01:01:53,840
white with that so anything that applies to vehicles if you're on a skateboard technically

607
01:01:53,840 --> 01:01:57,600
you're supposed to be on the road it's illegal for you to be on the sidewalk because you are on

608
01:01:57,600 --> 01:02:04,640
yes well no it's it's no you know here it's super it's super complicated i think skateboards and

609
01:02:04,640 --> 01:02:10,320
roller skates you should be on the pavement but you give way to other pedestrians if you are

610
01:02:10,960 --> 01:02:15,680
in a bike on a bike you're supposed to be in the road anything over 25 kilometers an hour you have

611
01:02:15,680 --> 01:02:20,080
to be in the road legally and you're not so on a bike you could like hop onto the pavement

612
01:02:20,080 --> 01:02:26,800
just to walk to like like cut off a corner or because the road wasn't safe you could like ride

613
01:02:26,800 --> 01:02:31,120
on the pavement for like i don't know 50 meters or something and that people were probably like

614
01:02:31,120 --> 01:02:35,200
you're not supposed to but it would be kind of fine but like i think as soon as you can go over

615
01:02:35,200 --> 01:02:40,720
25 kilometers an hour so like i guess some e-bikes then as soon as you if you took it on the pavement

616
01:02:40,720 --> 01:02:47,360
at all that would like instant fine points on your license although it wouldn't be points on

617
01:02:47,360 --> 01:02:52,800
your license because i don't think you have to have a license plate for a scooter below 150 ccs

618
01:02:54,240 --> 01:03:00,720
but anyway it's by the bike the uk system is complex except that it's kind of not you basically

619
01:03:00,720 --> 01:03:04,160
it's boys would be boys it's complex as soon as you try and work out whether anybody should be

620
01:03:04,160 --> 01:03:09,360
punished if you just assume boys would be boys but if you do anything with a car moped or motorcycle

621
01:03:09,920 --> 01:03:15,120
you're going to lose your license then that's the way to think about it so it is not sound boys

622
01:03:15,120 --> 01:03:20,560
will be boys yeah um you know the but the the but the thing is the american system makes kind of

623
01:03:20,560 --> 01:03:24,080
lots and there's a lot of places which extend that to other stuff too like i think in the check

624
01:03:24,080 --> 01:03:31,600
republic like gun ownerships like that if you like a court like do anything done with a gun

625
01:03:31,600 --> 01:03:34,400
they're like yeah we're just going to take your driving license as well because you're obviously

626
01:03:34,400 --> 01:03:40,080
a fucking idiot um like this is a privilege you get it you're going to have it but like you know

627
01:03:40,080 --> 01:03:45,120
all these things are contingent the car the gun the big guys get to work a contingent are you not

628
01:03:45,120 --> 01:03:51,600
being a fuck up so but um yeah as always citation needed on that one go go go go we compete that for

629
01:03:51,600 --> 01:03:57,360
yourself uh listeners i apologize i think probably the safest way to get home via your own transport

630
01:03:57,360 --> 01:04:03,840
drunk would be a horse yep horses pretty wow taking hot takes out here yeah you just get on there and

631
01:04:03,840 --> 01:04:08,720
fucking sit and then they'll get home eventually because they wouldn't know where the food is yeah

632
01:04:09,280 --> 01:04:15,360
i i as somebody who doesn't own a horse or ride a horse i could go along with that i base my opinion

633
01:04:15,360 --> 01:04:20,240
on absolutely no practical experience of horses well i mean you don't have to operate it it's got

634
01:04:20,240 --> 01:04:32,320
its own brain hey uh and then you just it'll go home and eat the grass it's all good so more news

635
01:04:32,880 --> 01:04:41,040
shall we news i never can get the emojis a trigger um yes let's do it so the next news

636
01:04:41,040 --> 01:04:47,280
point actually is related to a friend of the poddo it's in she was you can trigger it no effort

637
01:04:47,280 --> 01:04:53,520
any wider anyway i'm over it um what do you mean even shortly implying that i'm a sub citizen

638
01:04:54,400 --> 01:05:00,640
no no but like like like like so nulls webcam is actually quite good right i think you're no

639
01:05:00,640 --> 01:05:07,600
offense shorts but yours is like a little bit below the general quality of nulls webcam so i'm

640
01:05:07,600 --> 01:05:12,480
just like it's not a it's not a webcam thing it's a i'm in the wrong ass place and this this shit

641
01:05:12,480 --> 01:05:18,320
doesn't like me um probably has a hard time distinguishing between you and all of the crap in the

642
01:05:18,320 --> 01:05:24,640
background there is a lot of crap in here at the moment do you see well as as you may be aware i do

643
01:05:24,640 --> 01:05:31,120
multiple things for a living and let's just say that i have a bunch of stuff that is current is

644
01:05:31,120 --> 01:05:35,680
not actually mine and somebody needs to fucking come here and pick it up because it is now taking

645
01:05:35,680 --> 01:05:40,480
over my entire office to the extent that i'm just like i need to cycle into the office in order to

646
01:05:40,480 --> 01:05:45,440
get any work done because it's just it's kind of like you just know there's all these boxes

647
01:05:45,440 --> 01:05:48,880
like creeping up on you when you're working you just typing away at the desk and you're like

648
01:05:49,920 --> 01:05:55,360
like this yeah there's a couple kind of cosmic horror element to what's going on behind me so

649
01:05:55,360 --> 01:06:05,840
i appreciate it god it's bad isn't it um but so next news item uh a adow after a successful

650
01:06:05,840 --> 01:06:11,520
first year proposes an improved structure and atom allocation it is only putting 14 people on the

651
01:06:11,520 --> 01:06:19,520
payroll and one and one million dollars in atom bonuses that's where i'm as headline although i will

652
01:06:20,160 --> 01:06:27,360
say that i don't 14 are those 14 people full time there's something weird with this um so

653
01:06:28,560 --> 01:06:34,800
the hot tag is like it one million for 14 people i don't think is really asking too much if they're

654
01:06:34,800 --> 01:06:40,800
doing it even part time right like ideally be full time but there'll also be contracts you

655
01:06:40,800 --> 01:06:46,000
got to like round up whatever blah blah blah but i think the emphasis is really on the bonuses

656
01:06:46,000 --> 01:06:51,440
they have a salary and i believe they're receiving bonuses um if i'm reading the the prop correctly

657
01:06:51,440 --> 01:06:58,080
so it's more like like 2.4 million i think in total compensation for the 14 people okay that is

658
01:06:58,080 --> 01:07:04,880
quite a lot of money um i'm just rereading the uh you can probably tell i'm rereading the uh the

659
01:07:05,440 --> 01:07:11,760
the statement on the the hub forum okay so rama corrected me it is 1.2 million in salaries

660
01:07:11,760 --> 01:07:18,480
and then one million in bonuses yeah so 2.2 million going towards 14 people which seems

661
01:07:19,200 --> 01:07:24,880
excessive so with the caveat here that so a adow is transitioning to being predominantly full time

662
01:07:24,880 --> 01:07:34,800
25 the workforce full time moving to 60 being full time so i mean 60 being full time it's

663
01:07:34,800 --> 01:07:43,760
still not it's just majority but it's not um so the difficulty here right is that i don't think

664
01:07:44,480 --> 01:07:52,560
anybody saying should take money from a dow like a a dow or backstantion atom

665
01:07:52,560 --> 01:07:58,800
to quit their job and go full time unless they are guaranteeing you two years of salary up front

666
01:07:58,800 --> 01:08:04,320
are they giving it to you in your hand like to quit an actual job in the real world and come do this

667
01:08:04,320 --> 01:08:12,960
shit so sounds like a lot of money but you're just like the the risk of just getting rugged in six months

668
01:08:12,960 --> 01:08:18,400
and then being like well this money's gonna last me till i find a new job um and and you know maybe

669
01:08:18,400 --> 01:08:23,120
that's being overly paranoid because it'd be easy to find a new job i don't know but i guess you're

670
01:08:23,120 --> 01:08:28,640
kind of looking at the worst-case scenario where this is a risky thing that didn't work out it somehow

671
01:08:28,640 --> 01:08:35,600
looks bad to prospective future employers and you just have a gap on your CV um i don't know like it

672
01:08:35,600 --> 01:08:41,360
it it is it is higher it's still is still quite a lot of money though isn't it? What amounts to

673
01:08:41,360 --> 01:08:50,320
$160,000 or so each in compensation for the year which isn't absurd like it's not crazy

674
01:08:51,040 --> 01:08:56,960
it's not crazy but also 60 and it was 60% of them full this full time now which means somewhere yes

675
01:08:56,960 --> 01:09:01,680
which means yeah so you've got to assume that skewed upwards for the people that are full time and

676
01:09:01,680 --> 01:09:09,360
skewed downwards for the people that are part of time i guess so i don't know like in any case what

677
01:09:09,360 --> 01:09:16,480
like isn't their job just to like give grants? Yeah and then get fucking shit on twitter

678
01:09:16,480 --> 01:09:22,960
but why do they need 14 people like that seems excessive in itself? Maybe we should

679
01:09:22,960 --> 01:09:27,840
invite someone from the AADOW on here and explain it to us. Yeah bendy we could have

680
01:09:27,840 --> 01:09:33,600
asked bendy's left. No bendy bendy left i wasn't being facetious i wasn't i mean actually we

681
01:09:33,600 --> 01:09:37,760
should invite someone like yusef i've talked with him before he might be someone we could

682
01:09:37,760 --> 01:09:43,760
bring on like hey what so what's the search exactly? What's the search yeah i'm cool i'm

683
01:09:43,760 --> 01:09:50,640
cool with that we could do that. Yeah i mean like yeah i just i look at what have they actually

684
01:09:51,440 --> 01:09:59,040
and look i'm no AADOW authority but like reading through their proposal and

685
01:09:59,840 --> 01:10:04,960
them articulating what the like the value that they've actually provided back to Adam Holders

686
01:10:04,960 --> 01:10:12,320
wasn't evident to me. I don't think that's fair though what do you mean? I think it only existed

687
01:10:12,320 --> 01:10:18,080
for one year and the runway to see the the change in value of Adam or for the products to be fully

688
01:10:18,080 --> 01:10:23,920
delivered i think it's too quick to really know. I mean so i did say that you know i feel like they

689
01:10:23,920 --> 01:10:30,400
struggled to articulate the value that they had provided. I see i see i see. For example like

690
01:10:30,400 --> 01:10:41,200
the only thing that i saw them cite was that they had some coin in the treasury that was part of a

691
01:10:41,200 --> 01:10:46,880
deal that was worth 22 million dollars so arguably you could not realize that for 22 million dollars

692
01:10:46,880 --> 01:10:53,280
but that's what they cite as their big win but you know. And they're asking for 10 million dollars

693
01:10:53,280 --> 01:10:59,440
which obviously reduces that amount to. Well i don't think you could hit me anyway but they

694
01:10:59,440 --> 01:11:06,960
they didn't really you know say but we have all of these other things in the pipeline that we've

695
01:11:07,920 --> 01:11:14,160
done deals with with expected returns of you know whatever i think would have been a way to phrase

696
01:11:15,280 --> 01:11:21,040
their effectiveness in the role at least if that makes sense. Yeah and there's quite a lot to be

697
01:11:21,040 --> 01:11:26,960
honest a lot of these partnerships are fucking okay deep hot takes time here but like who gives

698
01:11:26,960 --> 01:11:33,440
fuck about some of these partnerships. Oh like oh community focus web 3 coalition stanford blockchain

699
01:11:33,440 --> 01:11:38,320
club oh blockchain at Berkeley oh how original i don't think anybody's ever talked to blockchain

700
01:11:38,320 --> 01:11:43,680
about blockchain at Berkeley University before yeah you need to spend like loads of money on that.

701
01:11:43,680 --> 01:11:47,920
You can just fucking turn up in a pirate hat and say who wants to work in crypto at 100

702
01:11:47,920 --> 01:11:53,280
fucking guys will start a blockchain company like i don't know i'm being a prick there's

703
01:11:53,280 --> 01:11:57,840
actually some also some good names the the partnerships list that are those ones i'll just

704
01:11:57,840 --> 01:12:02,720
focus not being a prick because that is my job right here. Here might be a little bit of a

705
01:12:02,720 --> 01:12:09,280
prick move on my part why would you go with onker for rpc provisioning within the cosmos

706
01:12:09,280 --> 01:12:15,920
why not go with like known providers like rhino as an example we know he had has excellent

707
01:12:15,920 --> 01:12:21,440
provisioning for rpc services why would you go with onker some some some completely outside of

708
01:12:21,440 --> 01:12:28,320
ecosystem rather than someone internal that yeah and there's also like a bunch of like

709
01:12:29,040 --> 01:12:37,840
like oracles super oracles okay fine security audits are like you know whatever man like

710
01:12:40,080 --> 01:12:44,640
yeah and then also like the whole the the trustee thing there's like oh we interviewed a few

711
01:12:44,640 --> 01:12:49,600
companies and we decided to go with this british law firm that's going to cost 50 000 pounds a year

712
01:12:49,600 --> 01:12:53,360
and you're like okay they're going to cost 50 000 pounds a year what else did they bring

713
01:12:53,360 --> 01:12:59,440
into that table because like i'm also not being a total fucking prick here when i say that like the

714
01:13:00,160 --> 01:13:04,000
there are a lot of problems with the way crypto is done and regulated in the UK but there's also a

715
01:13:04,000 --> 01:13:09,280
lot of expert there is actually a lot of legal expertise in terms of how you actually negotiate

716
01:13:09,280 --> 01:13:14,560
negotiate that within the context of the UK and specifically the city of london which is

717
01:13:14,560 --> 01:13:21,120
one of the largest financial hubs on the fucking planet so that trustee what are they bringing

718
01:13:21,520 --> 01:13:26,240
oh yeah i'm not an expert in every chartered accountancy in the UK despite the amount we

719
01:13:26,240 --> 01:13:33,040
talk about accountancy on this podcast but like you know these these folks like safari whatever

720
01:13:33,040 --> 01:13:38,320
they're called what are they bringing to the to the table in terms of additional expertise

721
01:13:38,320 --> 01:13:44,240
they took there's a lot of stuff here about institutional investors if if that is the goal the

722
01:13:44,240 --> 01:13:47,840
state of goal that is one of the yeah it says trad five partnerships is a big pillar here

723
01:13:48,560 --> 01:13:54,080
your choice of legal firm trustee all that kind of stuff you're doing it in the UK

724
01:13:54,720 --> 01:13:59,200
is that is that a city firm what are their connections what are their partnerships what

725
01:13:59,200 --> 01:14:04,560
are you getting for your 50 000 pounds which is quite a lot of money there's i mean i'm actually

726
01:14:04,560 --> 01:14:09,840
not against this proposal to be honest i think in general terms it needs to be done the number

727
01:14:09,840 --> 01:14:15,760
seems a bit high there's some specifics where you can nitpick amni in the room helping with who knows

728
01:14:15,760 --> 01:14:22,240
who and whatnot so you know what the fuck do i know you know as always but it's kind of back to

729
01:14:22,240 --> 01:14:25,600
the difficulty is it's kind of a little bit back to the trust us and see right which is

730
01:14:26,560 --> 01:14:32,080
and that always boils down to like who do you know that you recognize on that committee to

731
01:14:32,080 --> 01:14:36,480
actually trust because the if you don't actually know somebody on it it's very hard to make that

732
01:14:36,480 --> 01:14:41,920
leap of trust that is being looked at like you know we we know bendy we've spoken to bendy a lot

733
01:14:41,920 --> 01:14:45,600
if bendy said to me oh you know actually you know his don't worry we've actually thought about a bunch

734
01:14:45,600 --> 01:14:49,520
of this stuff it's all super well worked out but like you know actually a bendy's professional trust

735
01:14:49,520 --> 01:14:55,920
and you know whatever fine but then we're back to like all these thousand things they just rely on

736
01:14:55,920 --> 01:15:00,720
the politics of personality and they rely on you knowing people and being an insider to make an

737
01:15:00,720 --> 01:15:06,240
informed decision and you're like i mean well fuck that's every human system right i shouldn't be

738
01:15:06,240 --> 01:15:11,680
complaining about that that's just obvious come on fray well i think i think i think so while it's

739
01:15:11,680 --> 01:15:18,080
fun to shit on this proposal i think it's really easy to also make the argument for the price right

740
01:15:18,080 --> 01:15:25,920
so if we look at you know the market cap of adam let's see it is currently almost three billion

741
01:15:25,920 --> 01:15:31,600
and this is 10 million for a year's worth of accelerators effectively right i know as most

742
01:15:31,600 --> 01:15:41,280
this is going for their their grants dow here soon and they are at 400 million and it's a six the

743
01:15:41,280 --> 01:15:46,400
size i want to say so i mean that's kind of in line with other networks and what they're spending

744
01:15:46,400 --> 01:15:53,360
at least other cosmos based networks the the request of the salaries i think is is is quite high

745
01:15:53,360 --> 01:15:59,680
but other than that like we're being critical but it's not it's not unreasonable or if you

746
01:15:59,680 --> 01:16:06,080
didn't feel like a terra terra before they stuff happened to them uh they want to put i think it

747
01:16:06,080 --> 01:16:11,040
was 100 million that they are going to try and put towards grants 100 million and they were they were

748
01:16:11,040 --> 01:16:17,440
granted granted above above what adam is right now but not enough to justify a 10x difference so

749
01:16:18,480 --> 01:16:22,560
there's there's i mean there's some comments in the chat about a variety of subjects related to

750
01:16:22,560 --> 01:16:27,360
this like uh you know legal structure ridiculous incorporate down the martial islands i would say

751
01:16:28,000 --> 01:16:34,160
the like we're not experts this is not legal advice we don't give financial advice we don't

752
01:16:34,160 --> 01:16:38,720
give legal advice but we do have legal and financial opinions on this podcast um don't

753
01:16:38,720 --> 01:16:45,120
forget to like and subscribe and join our patreon to get exclusive access to the game of nodes discord

754
01:16:45,120 --> 01:16:51,520
including merch and t-shirts you're gonna get used only to get a bit more because we don't have a

755
01:16:51,520 --> 01:16:58,000
we don't have a game of nodes discord or a patreon only game of nodes merch is exclusively

756
01:16:58,000 --> 01:17:05,920
available to subscribers and our youtube membership um and you should get your orders in the next two

757
01:17:05,920 --> 01:17:12,240
weeks so that they arrive before christmas anyway um on the subject of legal advice the general tone

758
01:17:12,240 --> 01:17:17,680
of everything i've ever been told is that uh whatever you whatever and wherever you incorporate

759
01:17:17,680 --> 01:17:22,000
the fact the the jurisdiction that you live in and you put your feet on that soil

760
01:17:22,000 --> 01:17:27,760
is where you are going to go to prison if you fuck up badly enough so um i don't know why they

761
01:17:27,760 --> 01:17:33,600
picked the uk for the trusty stuff i don't know how many people in a a doubt have any relationship

762
01:17:33,600 --> 01:17:39,680
with the uk i it that's super weird but i guess at least one person must have done because they've

763
01:17:39,680 --> 01:17:44,000
gone well fuck it i'm going to prison here if i fuck up so may as well incorporate some of the

764
01:17:44,000 --> 01:17:49,200
legal structure here um i don't know also the city of london's really good for money laundering

765
01:17:49,200 --> 01:17:54,080
historically so maybe that's the other reason um not that a a dow is about money laundering

766
01:17:54,080 --> 01:18:00,320
just want to make that clear that that was a joke about money laundering and criminality anyway cool

767
01:18:01,680 --> 01:18:08,000
sorry keep talking i'm just sitting here reading the comments i like the one by uh jake so jake

768
01:18:08,000 --> 01:18:14,960
says for the for the listeners uh hot take a a dow has been more effective than a i b and the icf

769
01:18:14,960 --> 01:18:21,360
how much money do those organizations spend on stuff uh admin and stuff quite a bit yeah

770
01:18:22,640 --> 01:18:29,040
i should really go look at the icf uh grant cycle i'm really curious about it they get so much

771
01:18:29,040 --> 01:18:36,560
heat that i i just i want to know more i feel like me not knowing is a disservice to my constituents

772
01:18:36,560 --> 01:18:44,720
because as a my constituents i have to be constituent you're the mayor of fucking 11 to 10

773
01:18:46,800 --> 01:18:53,600
that's right baby i hope it comes with a real fucking kickass hat like um sadly none of my

774
01:18:53,600 --> 01:19:00,160
comedic hats are available within easy reach um somewhere in this room this very very messy

775
01:19:00,160 --> 01:19:05,440
office there is a sombrero um which i don't know is can you get counsel for in sombrero these days

776
01:19:05,440 --> 01:19:11,200
possibly uh there's also a pith hat like from the film zulu there's one of those um but i don't see

777
01:19:11,200 --> 01:19:20,480
it around so um on the news on the news a football the on the news items i noticed okay now everybody's

778
01:19:20,480 --> 01:19:27,840
got a cool hat apart from me um it's fine i'm not a hat guy i can live with it so um i don't even

779
01:19:27,840 --> 01:19:33,440
have rhinos i don't even have rhinos baseball cap i have only my own baseball cap which is a bit lame

780
01:19:33,440 --> 01:19:41,920
uh to i absolutely lost my rhino cap i have no idea what happened to it um so the the the one

781
01:19:41,920 --> 01:19:47,920
that popped into the the spreadsheet that really threw me was uh the us regulators are coming

782
01:19:47,920 --> 01:19:52,720
for kryptonite operators right which i swear wasn't in there at the beginning of the episode has

783
01:19:53,440 --> 01:19:58,960
you know appeared at some point oh hey none's got a hat too this might be the biggest hat i've ever

784
01:19:58,960 --> 01:20:04,080
put on my head it's a big hat that is adjustable i have a very big head though so that's why i think

785
01:20:04,080 --> 01:20:09,040
i had to buy you know big big hats and want to for them to even reasonably for those listening

786
01:20:09,680 --> 01:20:17,280
everybody's wearing hats all the null stuff take his off so um the uh the us regulators are coming

787
01:20:17,280 --> 01:20:26,240
for kryptonite operators point is um mostly about the the us uh dollars um anti money laundering stuff

788
01:20:26,240 --> 01:20:31,360
so like the o-fac and everything that's come off of the back of the tornado cash thing i don't

789
01:20:31,360 --> 01:20:38,160
actually understand i don't understand enough to understand fully where this has come from i guess

790
01:20:38,160 --> 01:20:48,240
this is this is like a working document um from who uh but so there's a legislative proposal

791
01:20:48,240 --> 01:20:55,920
for a new type of sanction which applies to stablecoins trading in us dollars i think is my

792
01:20:55,920 --> 01:21:03,680
understanding of this news item that rama has hopefully thrown in at some point um and the

793
01:21:03,680 --> 01:21:10,240
the specific wording i think at the end of one of the the bits of of background fluff is um

794
01:21:12,480 --> 01:21:17,120
uh essentially people can say are we just run stuff we we don't run it we don't know what it is

795
01:21:17,120 --> 01:21:24,480
smart contracts yada yada yada um to resolve this issue um legislation could explicitly

796
01:21:24,480 --> 01:21:30,560
authorize o-fac to designate particular blockchain nodes or networks rather than requiring they be

797
01:21:30,560 --> 01:21:35,360
a designated person's property or interest in property so my my my take my take away from that

798
01:21:35,360 --> 01:21:41,680
is rather than having a block list you could effectively um pursue node operators specifically

799
01:21:41,680 --> 01:21:50,080
or entire networks um which you know is just back to the thing of like you know if you have a publicly

800
01:21:50,080 --> 01:21:57,760
auditable blockchain your funds are not fungible um in the long run because if you don't have privacy

801
01:21:57,760 --> 01:22:03,440
uh spend you don't you don't have shit ready do you um but apparently we'll we'll all the u.s

802
01:22:03,440 --> 01:22:08,880
node operators are in trouble when they finally decide what to do about this and pass legislation

803
01:22:08,880 --> 01:22:14,640
and then decide how they're going to actually chase down node operators which is probably

804
01:22:14,640 --> 01:22:19,680
about half past never i would guess yeah means no trouble at all means we're doing good

805
01:22:20,720 --> 01:22:25,360
shortly looks really worried very worried very worried this is definitely going to be affecting

806
01:22:25,360 --> 01:22:32,320
us within the the next quarter we're going to have to bring on board another 29 staff mostly

807
01:22:32,320 --> 01:22:38,320
in marketing and legal affairs to to to head this off at the pass right yes my panties are

808
01:22:38,320 --> 01:22:46,080
officially in a bunch i knew they would be um i mean this is going to look really really fucking

809
01:22:46,080 --> 01:22:53,840
funny uh while wearing his privacy-coated hat happy days um yeah this is going to look really

810
01:22:53,840 --> 01:22:57,280
really funny when it turns out they do move really really quickly and then we're all we're all out

811
01:22:57,280 --> 01:23:13,200
business in about six months time