Panging.
Peg got pegged.
You know, I even saw the stream light come in all the way over to the right hand side of my monitor while I was helping shield two with this other thing.
Welcome to Game of Modes, a weekly podcast from independent valubator teams.
Hello, welcome to Game of Modes, a weekly podcast from independent valubator teams.
We're down to three because of a pegging and...
Pegging?
...is a pego.
It's not possible to say the correct thing, is it, in that case?
And there's been quite a bit of news this week, hasn't there?
I mean, I've just jumped straight into the news because there's some relatively exciting things in there.
But how are you guys doing? How are you doing?
You doing alright?
I'm watching, no.
I'm doing something over here, but...
I'm doing something over here, I'm not in this fucking board, guys.
Why are you talking to me?
Alright, Serp, how are you doing?
I'm tired, but...
Not too bad.
Why are you tired, Uncle Daddy?
You just fell asleep in your chair previously.
I did fall asleep for 20 minutes on the chair today.
Like, was that an exhaustion thing or just an old man thing?
I don't know. It's just an old man thing.
Late afternoon, coffee winds down.
Well, you don't know.
Coffee winds down.
I got something, I got watching something finish, and the next thing you know,
10 minutes later, you wake up.
I tend to fall asleep when I get in my bed,
not in front of my monitor.
To be a type of fucking handsome below something.
Absolutely.
You never have been so much a narcolepsy thing.
I think I had my feet up.
I was watching something.
I was waiting for something else to complete.
And the next thing you know, whatever.
You must have been in a couple minutes.
You must have at some point now, like that is like a classic.
Yeah, you have to.
Right?
Even late night, you don't just knock what couple minutes out in that thing?
No, I don't sleep at night, man.
I hear you bed at a regular house bedroom.
Suns the lump and shit.
Yeah, fucking is here.
I've literally gone to bed with the sun fucking high in the sky.
Blazing.
Because it's not dark until nine o'clock.
Like what the fuck?
That's nice.
Here, with British summertime, it gets dark just before 11 at night.
Really?
Yeah.
I mean, the sun goes down obviously way earlier than that, but it stays light.
Like if you on the on the solstice, even down in the south of England, like, you know,
Glastonbury Festival always happens on the solstice and they they in the in the stone circle,
they burn a Phoenix every year at the like a wooden Phoenix at the opening of the festival
because obviously it's a it's kind of important pagan site, I suppose.
And it's also just like a meme as well.
But they have to wait till like fucking midnight because otherwise they'd just be burning twigs in daylight and you would be at the shit.
No, but it's like, oh, that's not very impressive.
Yeah.
Well, the first time I went, I was like, this was like 15 years ago or something.
Like we got really fucked up because we were like, oh yeah, let's go see them do the fucking thing.
And like we just didn't have we just didn't occur to us.
Right.
How late it would obviously be.
You show up at four start drinking.
Yeah, because you go you also go to the festival like way earlier because it's 135,000 tickets plus like 100,000 support stuff or something like that.
So it's a huge site and they try and stagger like people arriving.
So you can arrive from like Tuesday.
So you there's no music until Thursday, I think.
So you basically been getting fucked up in a field for two days.
And this is one of the first things that's actually like an organized activity or some fucking shit that you can do.
And you're like, let's get this good booktube because the thing is probably like a sunset at the latest, right?
It's gonna be like say like you've been drinking and like getting fucked up for like hours.
And then you like wander up to the field like 8pm and it's like, no, it's actually broad daylight, isn't it?
And it's the solstice today.
And we're leaving.
We've we've we've we fucked up lads.
How much what have we got with us?
Like can we keep going for hours before we fall asleep in this warm field?
Yeah, at least one person in our group just fully fell asleep and slept through the entire thing.
Even there's like a drumming circle and stuff around them.
They're just like face down.
But I wonder if that weird isn't the wrong spot.
Yeah.
The awkward.
I felt a general sense of unease, which is a medical condition about being in the wrong place.
So I don't think it is medical condition, but I think it is something I've got a bunch of friends or doctors.
And I think it is a thing you can write as a diagnosis when a patient comes in and you're just like,
I need to record that there is a concern here, but they definitely don't have anything I could diagnose.
But just in case something crops up later, they report a general sense of unease.
About and plus I'm in the center, which is really weird.
No, she'll see.
Yeah, she'll see you're writing proper solo down there.
Yeah, feel naked and alone, especially since no one would pay attention and just go documentation.
So you figure out what server you have in your arsenal that actually runs this software.
Yeah, I found it.
Yeah.
But then I just keep getting fucking distracted.
Like I was, I can't even find the way.
Fuck is that now?
So there we go.
So small about M&Ms is now like, we know M&Ms.
I wanted to sort all the brown.
Anyways, so I just like five brown ones and tie back sucks.
Fuck are you talking about, man?
Yeah, anyway, I'm not getting a fucking 10 gig box for a leader.
I'm getting distracted.
Talking about switching, switching topics.
Did you get pricing in a layout box?
So in new, I just, I just saw that, you know, one of our friend of the podcast said that he was switching to a 10 gig box.
I'm like, fucking what?
Yeah.
So Leo, which is a testnet that's starting, well, I guess testnet three starting soon.
The one that people are allowed to fuck with.
Is that what it is?
Is that the official name?
Yeah.
Well, you know, the rest of them have been like behind closed doors.
Okay.
So that's kicking.
Well, I guess there's, there's some distribution this week in terms of getting nodes in the set.
There's pretty high expectations of CPU and some other things.
And one of those requirements was a 10 gig line, not a one gig line.
And, and, and so everybody's kind of back and forth in that.
Cause that actually, if you, if you go 10 gig only, you're losing a ton of different providers that a lot of people use.
So that does.
I don't know where people have gleaned that 10 gig.
That was an example that I think Dan provided, but in the build guide, it says 500 megabits.
So symmetric, which would, which would be a gig, which would be a gig would be a gig line and be 500 megabits each way.
Yes.
Yeah.
10, 10, no.
Loads.
Yeah.
One gig line, one gig line is symmetric one gig, right?
A one gig line is symmetrical one gig.
So a gig each way.
500 meg is symmetrical.
500 megs, 500 each way.
Yeah.
That's right.
Yeah.
So that's what we're getting.
That's in the GitHub.
And then, and then I think in the notion, in the notion doc that was passed around that has that space, that specifically says 10 gig.
Well, I'm putting on a 500 megabit here down under and see how that goes, I guess.
But the machine's going to be OP.
So like, maybe that makes up what machines back.
We talking getting a 93 54.
With half a terabyte of RAM and four 15.4 terabyte drives.
But you're using it for something else, right?
Because it's ultimately it's for something else, but we're just going to use it for a Leo in the for its maiden voyage.
That's cool.
It's a it's a it's a ball of machine anyway.
And the IOPS on those, we had to go Jen for NVMEs because it's three months wait for Jen fives.
But I mean, the IOPS are pretty insane.
We're getting these random ass dooper store discs out of China.
Sounds enterprises.
Fuck.
Yeah.
Store.
So while there sounds like the right words for something, but not the thing I'm after.
It's like, not in the right order.
Some some brand like Samsung spelled backwards or something.
The the the the NAND flash is Kyoksia.
So it's good.
Last chips on a who knows what board.
I the the the boards out of America.
So the guy who was selling it to me is like, is like, these are like a lot cheaper than than if you were to buy us a Samsung.
And I'm like, OK, what's the what's the right?
You know, what's the catch here?
And he's like, it's good Kyoksia, you know, NAND flash and the and the controllers, some other good brand out of the United States of America.
He said, but they're assembled in China and people don't like that.
And I was like, I'm not glad Americans don't anyway.
And I said, what was that?
It's 40% cheaper.
Oh, take it.
So we'll see how they go.
They're on trial.
I think I like a five year warranty.
It's a I think it's got a ride endurance of 1.3.
So we'll give it a you building these and rack it on yourself.
Yeah.
So you finally you finally going co low.
So I wanted an Australian machine, but like honestly, I would have to sell both of my kidneys to rent one out of Australia.
So we just decided to build one.
And I've hooked up with a good co low provider.
Obviously getting fingered on on the bandwidth charge out here.
Electricity is pretty expensive here as well.
So anyway, we'll see how it goes.
It's the first first floor in the Colo.
If this one works out, we'll probably look at jamming something into you serve as co low somewhere.
Yeah, everyone.
Yeah.
But I think for higher end machines, I think it makes sense to build something rather than rent it.
The rental machines are like a little bit tired to so.
No, it's not with a night night 93 54.
That's only they're only going to be a couple of.
No, but I mean like, you know, even the tired ones like the, you know, 7200004 series is still quite expensive to rent.
Yeah.
I think it's going to be expensive, right?
Because it targets like a different market.
Yeah.
And if you want any kind of decent amount of storage, you're fucked.
Yeah.
Well, yeah.
The big ones, like if you want like over, like if you start getting a 12 terabyte SSDs and stuff, they start really charging for those things.
But like for a 4 TB desk is going to cost you like 50 euro or something like that month.
Yeah.
So you're going to be like, well, we're going to buy these and we want to pay them back in two months.
So it wasn't for those discs.
You'll probably be looking at, I don't know, most $1000 a month.
So the, yeah, to run up to the cost of what buying all that kits can cost you, right?
Yeah.
I mean, the payoff on this compared to the other two is that you're going to be able to buy a lot of these.
And I'm like, yeah, it's going to cost you, right? Yeah. I mean, the payoff on this compared to what we're paying now for a far lesser machine.
The payoff is 12 months.
So that's including our hosting cost.
The pay off worked out at 12 months.
And that should go down if you add more hardware, right?
Because you're basically, you have a pretty high fixed cost.
Yeah. So the internet price is high.
So once we add more, I use, you know, the Colo, it'll be get, we'll become more economical.
So yeah, we've been like, we've been back and forth because we have our big issues.
One gig lines are pretty cheap around here.
10 gig lines are really expensive.
Like 10 gig line for us is like anywhere between 1500 and 15,000 a month.
So they're like really, they get really pricey.
And for one gig, like we get, you know, we get a slash 24 on a one gig for 150 bucks a month, which is like really cheap.
So in Australia, if you have to ask how much 10 gig is, you can't afford it.
Yeah.
Oh yeah. Yeah. Exactly.
I'm sure it's an insane.
I'm sure. Well, I mean, especially if it's like over the internet, I'm guessing if you're in country, well, I can't control that.
So it doesn't matter.
Interestingly, though, they did give us unlimited data.
So that is generally in the rental space out of Australia or APAC or Singapore.
Unlimited data is not really heard of. You can get it, but they charge you for it a lot.
Right. Yeah.
Yeah.
Yeah. Especially AP like, like usually 10 or 20 terabytes a month or something like that, which is, which is not enough.
Yeah. 10 to 25 terabytes.
So you can top out at 25 terabytes for like off the shelf type stuff.
But yeah. So I don't know. The gig is 800 kangabucks.
So that's a lot 500, 500 US.
Yeah.
That's a lot.
Yeah.
The lot fun with it. You're still going to have to, I mean, even with that, you're going to need some offsite backup.
So those archives and you're going to have some other stuff.
It's going to be, but you'd have that cost anyway, but it's going to be pricey.
The good thing about that is like, you know, so this is going into M1 in Melbourne.
So we can get, you know, something else in M2 and use the, and use the like 25 gig cross connect with our co-load provider.
So we don't actually have to go over the internet.
We can just back up offsite without going over the internet.
So it's cool.
Yeah.
Thanks.
Yeah. So that should be like, you know, a pivot from what we've done to date.
So it'd be a interesting learning curve.
All new problems.
Yeah. But it's not, it's not critical infrastructure to begin with.
Like we're not running validators or anyone's any customer services out of there or anything.
So.
Yeah. We just like, we were burning through NVMe just so that's like a real pain in the ass on our side.
Cause these are, these are NVMe sticks are not drives.
So they're like, cause these back planes are really old.
So they're basically like four port NVMe cards that are sitting in PCI slots.
And sounds like they might have consumer NVMe's in them too.
Well, they're, I mean, on the stick side, there really are not enterprise NVMe's and sticks.
Right. These are, those are all like two and a half inch, right?
You can get it. You can get a Dupastore.
Yeah.
Stick.
Yeah.
So Dupastore's. Yeah. So, and like they, I mean, they, these are the last thing that, I mean, those things have been there for a couple of years now, but still like when they fail, there's, there's not like, it's not the same amount of redundancy, right?
Like on the SSD side, you can create like a 10 drive SSD array and I can have hot spares and things just kind of take care of itself and that type of stuff, which is, which is, even though it's a raid, it was a pain in the ass, at least it's redundant.
On the NVMe side, you just don't have that. So you have to be planful around that, which is just a bit of a pain in the ass.
So you say you get these sitting in expansion cards, did you say? Just like,
I have to.
And on these boxes.
Mm-hmm.
Yeah. Like four, four port NVMe on a 16, like a, doesn't really matter, but on a PCI slot. So there's, there's one or two of those in each of these 10 servers that we have.
And then those things get basically get exposed as data stores. So, and then those can, those can actually blow up.
It's not that big of a deal because most of that stuff that we put on there is more like node based type stuff and nodes are disposable.
So it's not that big of a deal. And then like things that are important, like our monitoring and like Horcrux and that kind of shit, those sit on larger SSD arrays that can have fails.
Like it's not a big deal.
So, but it's just, it's just, it's just, you know, so he's got to go in there and you get that thing's dead and it can die.
But then at some point I got to reboot that server.
So I got to go in there and replace that fucking thing.
But to reboot it means everything that's on that needs to go down and that might be okay. It might not be okay.
And it takes forever to shut down. And then you got to, somebody's got to go do it and like, anyway, you'll see.
What's one of those? What's one of those fails?
You're like, fucking hell.
What's the, what's the, what are they called? What's the, what's the, the smart endpoint for like the percentage used?
That doesn't matter though.
Does that mean?
1000%.
No, I think these enemies have failed probably. I think in Xabix it probably showed less than maybe 100%, 140. Some of those were less.
They're all like, you know, but again, these are, they're just kind of anyway, Ramos has enough node complaining.
Well, that's what this is about, man. That's why we, we gave money.
First bitching, first bitching about none of preamble and then okay, too much preamble.
Too much.
We're only, we're only 20 minutes in the story.
I'm not looking at my fucking spreadsheet. Okay.
Drill tweet of the week. It was not last week.
Oh, it's early.
Yeah.
So you suffer.
Yeah.
So when stop Jesus.
Okay.
The section is dogs.
Oh, okay. I like dogs.
I like dogs.
You like dogs.
I like dogs.
Left page or right page?
Let's see. Left.
Yep.
Readers choice. Just find a good one.
Find some of the tickles.
Yeah.
We're just going to go for the middle one, which is what's the job where you dress up like a Michelin man and get attacked by vicious dogs?
Anyway, that's the thing I spent $80,000 at college for.
You have to get a college to do that.
I think that's the joke.
That's the joke.
It's not the comedy.
It's comedy.
It's not a comedy.
I tried.
I can't get it.
I tried.
What was that?
What was that hockey thing you posted?
Oh, that's a.
So that was my brain up.
I was like, I feel like I should know this reference.
That's a clip from Slap Shot with Paul Newman.
If you've ever seen that movie, that's a great movie.
I'll put the link in the show.
It's great American 70s 70s.
I don't know what year that is.
I think again, I'll say it's all cases like 79 78, maybe 80.
Great hockey movie about the Kansas City Chiefs.
And it's awesome comedy.
Should be should be watched.
Slap Shot.
Not slap.
Yeah.
Not slap shot.
Slap shot.
Not slap shot.
Paul Newman classic.
Okay.
Paul Newman.
How bad can it be?
Slap shot today.
Slap your troubles away.
Okay.
Slap shot.
Edit to your list.
77.
Here's close.
Okay.
Yep.
I will.
So the cosmos, the cosmos made some other progress this week, sir,
that you might be interested in.
I know the freighters and your fuck.
Can I, can I throw in a piece of news first?
Sure.
Because okay.
So this only matters to people, maybe only matters to people in the UK,
but it is interesting is that last week there was, I think Thursday.
So just after the show had there was a working document published by,
I can't remember these fucking groups, like they're important,
but they're all the titles are so yeah, the technology working group to the
asset management task force issued an interim report on UK fun tokenization.
The big thing here basically is fun tokenization in a regulated way and the
FCA being okay with it.
So it's kind of interesting, but also like low key kind of not because it only
covers funds using ledges for essentially a system of record, right?
And it kind of seems like a bit of a meme to me.
Like, you know, when you're like, I'm not sure if I get what's going on here.
Yeah, all the time in the show.
Yeah, well, sure.
But if they're just using it as a database essentially, but distributed one,
then it's a meme, right?
Because why not just instead get every hedge fund in the world and tell them
to run Apache Cassandra and then just expose a port to each other.
And then they have fault tolerance.
And if any of those hedge funds gets blown up by a bomb, all the other hedge funds will know.
I mean, and that is literally how international banking, I assume currently
operates with some kind of sharded distributed databases, right?
One would hope.
So the fact that it's kind of, it's sort of private, but it's also sort of in the public.
Kind of just seems like you're asking somebody to just grief your record, right?
Because the ledger can be rewritten.
I think a lot of this stuff that's been done so far is on polygon.
So I don't know like what level of, I don't think they have the same governance drama
or any of that stuff that Cosmos has.
So what did the approving set?
They approve something?
Is that what you're saying?
They've pushed, they've sort of greenlit a slow burn.
Path to fund tokenization.
So it's like TradFy using public ledgers to represent funds.
And there's like a, there's at least one company that has a regulated exchange where certain people could buy those funds,
which are ultimately represented on chain.
So something like, what was that Cosmos chain that like kind of failure to launch, failed to launch?
It can be more specific than that.
That was how it was all about ETFs.
What was that called?
Oh, defund.
Yeah.
Imagine defund, but it's actually a regulated financial institution that can sell your fund.
But are they packaging them up in some sort of group of assets?
It sounds like what you're talking about before was more like a CBDC.
It was like, it was just like, we want to use a ledger for a digital currency,
but that currency has to be back.
And that's kind of what you said.
So the currency involved, they just, they're issuing a token that represents shares in say like an ETF or a fund.
Oh, so it is, oh, it is a representation of some other financial asset, like some sort of fund type structure.
Yeah.
So it's a representation of the asset.
Yeah.
What the fuck does that mean?
Well, it means that the asset, the representation of the asset is living on a public ledger.
And then ultimately, I guess is going to be, if it was to be traded or redeemed or whatever,
will be redeemed via one of those regulated players that has a private, currently a private, regulated exchange for their investors.
I got it.
Use those funds.
Okay.
So if I own a token of a certain amount, I own that in a physical, in some other financial type of thing.
If I turn that in, they burn that and I receive the actual financial, whatever, whatever, that type of idea.
That's essentially it.
Essentially the idea.
The mechanics of it, really, the report doesn't, isn't interested in mechanics, implementation, any of that stuff.
It's just interested in like the regulatory framework.
But I do look at this and I go, well, I mean, if that is actually a representation of the asset, then what happens if there's cyber attack?
What happens if you get owned?
What happens if there's a governance attack?
It is an interesting question.
I don't know how much like the implementers or the regulator actually, I mean, they all seem like smart.
Enough people, the people I've actually interacted with in any way.
But I don't know to what extent like there is risk involved in this anyway, or whether it's, because the thing is, it's like, is it the system of record?
Like, is it the system of record?
Or is there also postgres running over here?
Because I bet you there's also postgres running over here.
And I bet you if Polygon shits the bed or gets attacked, they just turn it off, go back to postgres and go, don't worry, fun, safe.
So they did select polygon, like some sort of like some sort of contract or representation on polygon in some sort of way?
My understanding is the pilot, the current pilot that's in use that is in use that's referenced in the fund tokenization report is referring to a implementation on polygon.
Why would they even need a public blockchain?
Like, what they're saying is they're basically saying block blockchains, like technology makes sense for this use case, but defies bullshit.
So, so which, okay, and there's a number that probably you can't even buy it, like you can't even interact with it.
Yeah, so you why they could run 10 servers in a fucking data center and have a blockchain that runs as Hey, it's immutable, which yes, it's a database that has structure around it for sure.
And they receive the get the same benefit like I mean, it doesn't make any sense why they even use a public chain.
Yeah, my only understanding is that yeah, this is why I'm like there must be something I've misunderstood from what this pilot use cases is saying and and what that current implementation is.
Because yeah, why, why?
Because I also know that like obviously the inputs and whatnot will be like hashed is not like they're going to be like this is not like it's gonna be an NFT with a memo field that says this NFT represents $500,000 worth of X asset, like obviously it's not.
But at the same time, like if you look to the series of assets that were being issued on polygon and you looked at the source wallet or the mint a contract and you were like, well, this is clearly run by one entity.
And it looks like they have a specific pattern of usage and lifetime.
It looks like they're all moving back to this one point and then they're coming back out again.
They seem to have, you know, just random hashes in the water.
But I mean, look, who's running that you got security by the way.
You've got security by obscurity, right?
But it doesn't mean that somebody can't see that in the open and go like, I wonder what that is and whether or not it's valuable in some way because even disrupting it could potentially be valuable, right?
Yeah, sure.
Yeah, no, everything else, right?
Yeah.
But so who's who put that out?
Where's that from?
I'll add a link to the to the show now.
I put a link in there.
It's it's the very, very catchy interim report from the technology working group to the asset management task force with with.
What's that acronym?
Yeah, exactly with with the assistance of the UK Investment Association and the is this like a government agency of some sort is a bunch of.
So it's a private a private body with the sort of pseudo blessing of the FCA, which is the regulator.
So the FCA is a regulator and they've sort of held hands throughout the process and the FCA has basically said, OK, that seems like a reasonable blueprint.
OK, start taking this forward.
Now you've kind of done some pilot stuff.
My understanding is that if you are a company working with any kind of tokenized fund representation in the UK, what is going to happen next is probably that the FCA is going to ask you to say get in touch, essentially, and they're probably going to make you register in some way.
I don't know if there'll be a financial cost involved in that or whether it will just be putting yourself on a register of companies that are working with the technology in some way.
But almost everybody working with funds, like is in a fund is in Tradfy is already going to be regulated by the FCA anyway.
So right.
I don't know. It's a sort of a weird one because like obviously you don't need to register with the FCA if you were just running a private blockchain because nobody cares.
And I don't get why you need to use a public blockchain other than maybe an investor wants to look at the look at ETH scan on their mobile phone while they're on the toilet.
That's the only use case I can think of.
As one does.
So we'll look at min scan on the box.
It would have to be new assets, right? Because you couldn't mirror an ownership structure or anything else from some other data source onto that chain, right?
The long term play must be YOLO DeFi.
It seems like it's a baby step towards.
Yes.
Right? We haven't figured out how to actually put an asset on chain and collateralize it and all that kind of stuff.
And we are going to say, we're going to keep this shit on the side and trust us. If you want to make a change, we're going to make a change and you're going to see that change and then that change actually gets reflected.
And when you want to actually sell this thing, we totally got you, bro. We're going to go sell it on this side because you're kind of trusting us to make that sale, right?
Or you're trusting us to make that move because we are the broker of all the actual transactions on chain, right?
My guess at the moment is it's blockchain, but Postgres is running over here.
If anything goes wrong, they just have a backup.
Postgres and they say, fuck it.
The experiment failed, right?
But presumably the long term plan is to be the...
Any of these firms that are involved in this process, any of the stakeholders involved in the process, presumably, have clients who are big enough that want some exposure to digital assets.
And they're going, okay, look, if we are the first to jump here and we take on a bit of risk and we just do something that actually doesn't really do much, it's technologically kind of naughty.
But whatever, it gets us in the space. It gets us on a public blockchain.
Then when we start being able to maybe suggest, oh, for high...
What's it called?
The accredited investors you have in the US, maybe in five years time, they get to go, oh, well, what if we could do certain types of DeFi on our funds, but only through accredited investors?
Because the other thing that's obviously a part of this framework is KYC AML, right?
Half the report is KYC AML.
It's just like all of these firms...
I'm sure it is.
Yeah.
All of these firms are already registered with the FCA.
They already blah, blah, blah.
I like it.
It's that kind of stuff, right?
Right.
So, yeah, my guess is that it must be just a long-term play to try and be the first mover that gets to YOLO DeFi for very wealthy individuals and organizations.
That seems like the only way it makes sense.
Otherwise, why use a public blockchain, right?
And also, why use Ethereum adjacent blockchains?
Well, I mean, that would be the case.
You could make that case for anything, but yeah, agreed.
Well, one is YOLO on Aptos, where it's objectively faster.
Right.
Or, yeah.
There's not a huge amount of transactions on Aptos at the moment, so there's no congestion for you to compete with.
There you go.
Always taking the positive side of things.
No, I'm a glass half full kind of guy.
Everybody is always so down on my wealthy.
I'm just like...
Chihuahua was wide open.
Honestly, if I was the Aptos Foundation, what I'd be doing right now is I would be going to central banks and being like...
Oh, they definitely are.
Yeah, I would be going like, we can undercut this stuff.
I'll put a link in the show notes, but there was just a medium post that came out from the Aptos team at the back end of our preview net two.
And let me see if I can find it real quick.
I wonder, maybe I'll try to quote it real quick.
Oh, come on.
Fucking history.
We need the technical difficulties though.
I can't find it, but...
Yeah, anyway.
But part of that in there...
I don't know how you could find it like among all of your notes.
I'm just going through the history, sometimes Chrome based tools.
Let me see if I can find it where it says around credit.
Nope, doesn't have it in there.
There was somewhere in that either it's in the article or I'll link back to the Twitter stuff as well.
But whenever TPS came up and the transaction per second is part of this, their yardstick was credit cards.
So that always comes back.
We've seen it before.
It's not just Aptos, which is a good yardstick to use, but people say, okay, it's 30,000 transactions a second or we were sustaining 24,000 for today at these complicated transactions for 24 hours without issue and 2 billion transactions over two days or whatever the heck it was.
And then that's a good number, but people can't relate to that.
So what they do is they actually always relate back to credit and they say, well, all credit houses kind of average around 1,800 transactions a second.
So we're already way more and blah, blah, blah, blah.
So I guarantee chains like this, which they should be doing, absolutely should be doing, but they're probably doing a bit of a roadshow around some of these types of things and say, like, why this is better, right?
Yes.
So you're Postgres, your Postgres example is right, but like in the credit industry, when you have like multiple houses and you have all these delayed transactions and reversals and all this type of stuff, like the ledger there is good Lord.
Like that's complicated shit, right?
So it's a good use case if we can, if I assume I would assume these houses are already looking at it or they're running in house or something else doesn't mean it doesn't mean it's going to end up public.
You would thought so.
But then again, like also, I think that a lot of this is something I saw with some fintech providers in the UK and Cosmos during the bull market was that people came along to meetups and they were talking about doing in house projects and they definitely were working at fintech companies, right?
Sure.
And then there's more, more tradfi fintech companies, right?
Those people have dropped off my radar and re-heard from people doing that sort of stuff since things have gone a bit south.
I don't know if that's because those programs got canned because the market cooled or whether it is because, and again, I know I'm down on the Cosmos SDK, but I genuinely think there is a little bit of like, it is hard to work with.
It is Byzantine, the amount of people you can find to professionals to work with you on it.
But I think in terms of pure off the shelf, you could literally get running in five minutes, just as like a Hello World example.
The Cosmos SDK was one of the best examples of that for doing like an in house Skunkworks project.
So that was why I think I saw people doing that and I heard of people that I met people doing that with the Cosmos SDK, but I haven't heard much since.
And so what I kind of wonder is for those, like, obviously I don't know about every ecosystem, but my perception is that there are very few very generalized, like off the shelf blockchains that you could do like a very minimal project with and then iterate forward.
Because either blockchains are kind of proof of work or very special case or very minimal. They're literally just like a here's how babies first blockchain works, right? Just really, really simple blockchain.
Or they're like, OK, well, it's a smart contract platform. And as soon as you have a smart contract platform with a VM, it's not always the case.
But it's usually the case that the VM is very closely tied to how the blockchain works, because the types of transactions that you get going through your smart contract VM are obviously going to affect how you want to optimize the consensus engine, the storage engine, things like that, right?
And that's what you see with APTAS, right? They aggressively optimize for those transactions and the use cases they think they're going to have like mints and whatnot.
And the thing that you can't really do that in the same way in Cosmos without really kind of like deviating quite heavily from the base template of the SDK that everybody else is using.
Sure.
If not actually like starting to rewrite parts of the stack lower down, right?
But they could.
Yes.
Right. I mean, like we talked about moving the base SDK over to Rust, right, which was a project that was happening.
And like, I mean, this team has rewritten this consensus, I think like three times since we've been working on it.
Yeah.
They have a lot of money and they have.
That's the difference, right?
But they have tens of millions of dollars to throw at the problem and they demonstrably have experts who publish papers on this that.
I think it's an expertise thing.
That's like finding a role.
But to give you a genuine, genuine, like obviously I know that there are the pockets of blockchain expertise in academia are like very spread out, right?
Not everybody is on top of every single thing that's happening.
Like some people have cryptographers, some people are consensus experts or distributed systems engineers or their physicists who like there's the paper that we were talking about with Schultz in the group earlier about approaching physical limits, right?
And that's what I think is all about speed of light on distributed.
And we've literally seen that over and over again in networks, right?
Null runs into that problem all the time.
So there's people who have like very, very specific expertise in very, very specific things.
But it feels like there is especially on like the kind of consensus bit and then the smart contract bit and the move language.
So there's three chunks all could be people who would never necessarily know what the others were working on.
But they have experts in all of those fields who have done work that has led to SWE and Aptos.
So on that level, I think they do have a technical advantage.
It is my perception based on talking to real academics in the space and going like, oh, but you know about the implementation of this that's in Aptos in production right now.
And people go like, I was aware of a paper, a working paper.
Right.
And you're like, oh, no, the working paper is now a published paper and it's now in production.
And it's already gone through multiple revisions and test nets and this and that, right?
Yeah.
I don't know if that's a, I mean, we're on a way off topic, but I don't know if that's a, I don't know if that's so much.
Is it cash or is it motivation?
And it feels like, like that team that we work with in the Aptos side seems very focused.
I know they clearly they're going after specific markets with that technology, right?
And that might be led by investors, which they have a significant number of large, well-backed investors who are probably help guiding them around specific markets.
Like I could see credit being one of those.
I could see anything that has large transactional type structures to say, this is a better solution for that.
It's more distributed.
It's more blah, blah, blah, blah, right?
And they would also have the ability to create opportunities to go change those markets with that technology, showing that it's proven, showing that it's tested and kind of building a roadmap of basically dominoes to knock down, trying to get to some sort of piece where this technology gets used for a global credit type system or a payment transaction or something else, right?
That's used in those types of areas.
Like on the in the Cosmos ecosystem, like we have a lot of use cases like that are kind of separate that are solving a small problem using that technology.
But I don't know from maybe it's an ICF thing or maybe it's from an underlying technology that everybody uses is that same direction there.
Like they're not trying to solve this 30,000 TPS problem.
Like it's clear, right?
Nobody has any interest in doing that because that's not maybe the focus.
So is it just like, Hey, here's this thing we can go build some stuff and we can make it go a little bit faster if we want to.
And we can't really push it too far, but it's really, but it's, but it's open and anybody can use it and it's, you know, extremely available to be able to use and extend what you've seen.
And maybe that maybe that's enough, right?
Which I guess has been for DYDX and say another.
Yeah, I don't know. I mean, I think my hope my I could be wrong about this, but I think my hope my hot take purely from having been in the Ruby on Rails community in the 2000s would be that Ruby on Rails was a great technology.
It really did like push forward web development and some important ways and the ergonomics of it being able to scaffold a simple application for most use cases inside of five minutes and then spend the rest of your life maintaining it in great amounts of pain and increasing pain over time.
It sounds a lot like cosmos and the irony of cosmos right is that they said that it's the Ruby on Rails blockchains.
What happened with Ruby on Rails, of course, is that the some of the smartest people in Ruby on Rails jumped into other ecosystems like closure, for example, full of Rails people when I first started working in Lisp.
Node.js was full of Rails people.
We're like, we've got to have a great build system. We've got to have great templating and ultimately other languages and other frameworks got more mind share and took those ideas further and into like look at Node.js now, like look at the isomorphic JavaScript and all of that stuff.
I mean, like there was there were aspirationally people were trying to do that with Ruby in 2004 but couldn't obviously do the isomorphic front end stuff in the same way. Settled on coffee script instead, but a lot of those kind of a lot of the pain learned through that Ruby on Rails implementation path and the various versions of Rails and the Merb merge and all that kind of crazy stuff which only Ruby people will remember.
Ultimately Ruby became a Ruby on Rails became a dead technology sometime in the mid 2010s. There are still obviously a lot of legacy sites built during it, but you wouldn't do it today, right?
But it was a great technology while it lasted and it did so much to push the space forward. And like I think in some ways that the.
I would agree 10 minutes of that case, right? It's not dead though. I mean, I wouldn't say that. Yeah, it's not that it's pushed that it's clearly pushed the space forward. Yeah. Yeah.
Like I think the difficulty is that like without a core technical roadmap that is centralized that the word you're searching for open source. This is the thing open source projects need good core central vision. That's that is the reality.
And I think the problem is we're too used to cosplaying decentralization in Cosmos at the expense of pragmatism. And one of the big learnings that teams will take away from the Cosmos is to work out when to spend your bickies on decentralization.
And like, and I think all of us kind of have the view that if you're going to do decentralization, do it on the right thing and do it as actual decentralization, not decentralization theater would be a good learning.
You know, for things like the actual investment structure, the roadmap, the vision, the adoption path, the business like development, all that kind of stuff. Yeah.
Does anybody give a shit if that's centralized really? Not. I'm sure lots of people do. Yeah. I don't because I think the I think once it has a momentum of its own that might sort itself out and it will naturally spread out the mind share maybe.
Yeah. I mean, look at Linux, right? You get lots of different distributions, you got lots of different opinions, it becomes an ecosystem happy days, right?
The kernel, but the kernel to continue this nerdy relationship, the kernel is quite centralized from a leadership perspective. Like, he still drives direction on that kernel and they still control what goes in and what goes out, even though that's gotten obviously extremely large in terms of contributors and structure.
That roadmap is still, I don't think it's centralized as it was, but it's still has a daddy, right? Yeah. And that daddy has a vision for where that goes and now obviously it's kind of achieved all its objectives.
But in the early days, like you hear stories about how centralized that was in terms of like flat out rejecting change and fuck you, we're not doing this and those types of things, which I don't, which again, for the time and place it worked, right?
I remember Git, the technology is named after Linus referring to his own management style, right? Is that right? Yeah, yeah, because his joke about Git was, I name all my projects after myself.
Is that right? Yeah. I don't know that. There you go. There you go. It learned something today. All right, now, what were you going to talk about 20 minutes ago? Fuck you, fine, I can't remember.
Did you solve Pego? No, did you get Pegoed? So actually, I was going to mention that for us Cosmos people, operationally, there is an improvement that is going to happen on the chain registry.
Thanks to Shiltsy, they're going to add the fucking Go version so you can now implement that in your automation. That's all parts of Shiltsy's goal of never having Ansible variables associated any chain data in the repo.
Cosmos.directory. It's a good goal. I like that goal. It's totally. Yeah, so now we can put a Go check at the start of every upgrade so we don't have to fucking initiate the upgrade twice every single time.
He says, damn straight. That's my issue with that too, is because there's always like a little piece of information that's missing out of there.
Even like even tool flags. It's always you try to do the upgrade, then you go back and you fucking install the right version of Go and then you do the upgrade again.
So yeah, yeah, incredibly one that are lagging, which is a little bit annoying. Yeah, you're always going between like one, one, nine and like one, two, three.
Yeah, yeah, that bounce between. Well, actually, I think we have ones in 1920 and 21 and some sort of thing. Crazy.
Did you want to start on the news? Yeah, yeah. Yeah. No, do you want to join a shoot because there are a couple of pieces in that excited you?
Yeah, I haven't read it. I've been completely distracted because the stuff you've been talking about was boring as fuck.
Which one do you direct in interest me? I don't see any. Let's talk about row 18.
You are heavy on your heavy investor in Coinbase is quite now.
Coinbase is coin. Is that the USDC? No. What is coin? What is dollar sign coin? Is that is there a coin? A coin coin?
Well, who knew? Imagine the dumbest thing you can imagine.
And then down some more, baby. Okay, let's go. It's time to update the system. BlackRock. I mean, Coinbase is video. We're born into it.
We work hard. Get good grades and go to college. Dead is good. Dead is so good. It's time to update the system with Coinbase. Buy coin.
The video is absolutely cringe. It is the cringiest thing is unbelievable.
Oh, yeah? Oh, yeah, yeah. If you look on Coinbase's Twitter, I post in the chat. It's, oh my God, it literally will hurt your retinas.
Sound on as well for full cringe effect. Not right now, though. The references, please put it on.
Devastating stuff. Yeah, I guess like, is this the link here?
That is, in fact, the link. People on the Twitter accounts love it, though. The greatest ad of all time.
No, you're mic is gone, you idiot.
All right, I'll put that one in the show notes. It is.
I take a massive amount of hands.
It's something. Yeah. I don't know. It trips all of the worst cringe things, doesn't it?
Because when it's a bunch of nerds who are trying to sell you something and that something is a risky asset on a blockchain, you're like, yeah, okay.
You're like, the system, the system, the system. It's like, no, you're just trying to do first mover advantage on a last sucker, a last sucker Ponzi.
You're not trying to change anything. You're just trying to get over the fact that we are at a stagnation of economic and social policy by enriching ourselves and then exiting, right?
I've seen this script before. Don't play like you're the good guys. Very occasionally, you see an interesting idea in the space and you're like, okay, they might actually genuinely believe what they say and think it's a good thing and maybe it is actually a public good.
But that's like 1%. And then the rest of them, when it's like category A and they're a massive company and they're backed by you just like, oh dear.
It's like, you know, when you go to a nightclub and there's like somebody who's just like, you're just like, you're embarrassing yourself. You should go home. You've had one too many.
But Ramas says his comment was, Coinbase seems very brave taking on the system after the lawsuit dropped. I agree with that too. Like, well, like, we got this far. Fuck it. Put this thing out. Yeah, exactly.
We've had the lawsuit dropped. Let's see what's going to get sued again.
I mean, any fucking thing.
I'm now up to date and that was very cinematic.
You look changed. You look transformed. You look ready to fight for the future.
The future's fucked, apparently, according to Coinbase.
It's fucked.
It's fucked if you buy Coinbase's ICI.
Oh, I love their cringe comments as well.
I know they're all so positive.
Incredible.
Well done.
At least they did admit that they're biased.
Yeah. Do you know what? It's back to the thing that Ramas said.
Like, if you accept that Crypto is just like about forgetting the day job, having a bit of a YOLO, mucking around, which I think it is for most people. That's fine.
That's not that.
But yeah, this ad is like, it's just such hope here, isn't it? You're just like, look.
Put it in the Super Bowl.
Yeah, exactly. The answers to life and all that other stuff are really boring.
It's work hard. Pick a career where it's not the most interesting thing, but it is well paid and you can achieve mastery and then get better paid.
And then just grind that fucking thing and save 30% of your salary and put it into things that appreciate your compound interest.
That's how it works.
Not hard. That's how pension funds work, right?
I guarantee this ad actually will be in the Super Bowl.
Now that I'm looking at the way it's shot and like the cinematography of it and everything else, yeah, this is headed that way.
Oh, my God.
This is why people hate people in Cryptos. Why people hate us is why we can't say what we do for a living.
That and there's no more celebrity sponsorships of crypto section.
Those days are, nobody's stepping up in that anymore.
Not that somebody else has got picked up, right?
What celebrity would front this, do you reckon?
I know.
So cringe, isn't it?
It's like Helen Mirren's fame.
This video cost the entire fucking like, like no budget for King Nodes for the whole year.
Do you know what this video is like?
This video is like, you know, if there was like a celebrity endorsement of it and then somebody called them out on it, they'd be like, if you were paid to do this, you would have said yes too.
That would be the only explanation. 100%.
Get like, get a little bit through to do it.
Something like that.
Perfect.
Is at this point, I was noticing some hostility towards myself from the Koi base executive and it's like, ask more questions about their investments.
It's funny. Too funny.
Yeah, I don't know.
It's so fucking blow hard.
They are.
Which agency did this?
And it's weird that in the Koi places, respond to every one of those.
Like, they're all over it.
They're all over it.
Let's see what else.
Give this to your raise please.
Yeah.
So I think last week, I'll pick up another piece of news while you read those comments and enjoy your snack.
It's breakfast time.
I think per us calling it out, was it last week or the week before related to some of the notional excitement, but a proposal number 104 on the Cosmos Hub has been put forward to yes clawback 120,000 Adam left in the vesting wallet.
I think that's what it is, right?
No, there was 120,000 originally.
There's 90,000 left that are locked and vesting.
And I think the idea is being to pull all this back.
What do you think the likelihood of that going ahead is?
I don't think it'll happen.
Are they still meeting their obligations?
They put out their report, man.
Don't have done the report.
Don't put. I mean, does that matter? Does the contract make any difference? Does the promises made or not made make any difference in this?
And logic both stand in the same room.
Oh, man.
Well, the paper I'm writing at the moment is is infinitely improved in its central thesis by this new development.
Let me just tell you, it's amazing.
It's just just when you're like you're researching all the times that stuff like this is happening crypto.
And you're like, wow, it seems really confined to Cosmos.
I wonder if it's going to happen again sometime soon.
And you're like, bam, just when we're at the pre draft stage.
I'll probably get some comment come back for for chuckling at that.
Zach, you comment on here.
I think the appropriate thing to do is claw back the funds and have notional or successor proposal.
We should develop a new account type with native clawbacks comparisons to prop 16.
Why am I getting buzzed now on my fucking microphone comparisons to prop 16 are inappropriate.
The community fund proposal contemplates a clawback for dispute resolution.
And this seems to be required in the setting.
Can I point out the obvious to Zach here, which is that now already does this and they should just put next time just fucking put that money into Dow Dow on Osmosis or Juno.
They could just cancel the vesting or even pause the vesting rather than canceling if there was a dispute in flight.
Why?
Why bring in let's just use this the straight governance proposal structure that we have.
It's extremely limited with yes, no, whatever.
And then we can implement an entirely new account transaction type with all of the scaffolding, bike shedding and you know, merge hell that that involves to get through that one type.
That would be fucking cool.
That would be great.
Let's do that.
Exactly.
So yeah, anyway, I don't know why they're not just using Dow Dow.
They should use Dow Dow.
But I guess it didn't exist at the time.
But I don't know if it would matter with it.
Well, no, it did fucking exist.
No, whatever, man.
They just yeah, whatever.
The hub going to be the hub.
They're going to do hub things.
This is going to be a hub thing.
They're going to do hub things.
This is an amazing hub thing.
Not our fault.
So I had to watch that Coinbase thing again and it's just regretted.
You watched it again.
Is that what you said?
Like it is like it is it is almost like the room level bad, you know, it's almost like,
you know, bad good.
It's so but I think it might be bad.
I think it's just bad.
I think it's just cringe.
I don't think it's bad good.
It's just bad.
Oh, just every bit of it you just like I'm being taught down to my intelligence is being
insulted and and and of all people I won't be taught down to by Coinbase because you people
are fucking stupid.
Oh, yeah, actually, you know, I actually made me the first time I watched it I cringe.
I think this time it just pissed me off.
This is yeah.
Anyway, it's bad.
Anyway, so clawback happy days all fun and games.
So it's released the hounds, right?
This is not prop 16.
It's not a tumor.
This is a different type of changing the changing the blockchain.
This is a different type of changing the blockchain.
Same end result but totally different.
Totally different is this one can be done automatically via governance proposal without
any custom cut.
Oh wait.
No, no, it is the council of method in contract, which is actually not trivial.
Okay, cool.
Great.
So all fun and games.
Yep.
Yeah, I love it.
Just which if we learn from any of our mistakes, that would be fantastic, but we obviously choose not to.
So where is the fun in that my boy?
Nah, fuck all that.
Anything else in the news you want to talk about?
Where is the news?
That's a good start.
That's perfect.
Where is that tab?
We have that tab in other news.
We are live.
Well, we're not live.
We're hosted on OmniFlix TV.
So omniFlix.tv.
There is a game of notes channel.
There is 10, 12 episodes up there so far.
We're going to pump up all the back catalog.
We've been talking a lot with the OmniFlix team related to just some of our challenges, feedback,
feedback related to kind of just the structure of it.
So we will have 91 episodes up there this week, which is pretty cool.
I was telling you can make a donation.
You can.
You can pump some flicks towards us.
Yeah, to the pay Rama fund.
Actually, I think, yeah, actually, yeah, maybe, maybe that's a good idea.
So those will be up there.
We'll put those links.
We'll start including those links in the, in probably the podcast link and maybe in Twitter and things like that,
because it can go directly down to the, to the episode.
And we have some feedback.
Again, like I said, we have some feedback related to just the structure of it and some of the items related to having to do polls and,
and kind of the order of channels and how to structure this and just making it more user friendly, which I really want to be able to do.
So, which are right now, I think it's, it's, it, it has some areas to be able to grow.
But again, it's doing pretty good.
So the, I mean, these, these gems will be all stored it and saved within IPFS.
We're going to add that.
We have some IPFS nodes, I'm going to start pinning these collections as well.
So we have another copy of them just in case, but they're not, it's not a big deal.
And, and yeah, so it's, it's kind of cool.
I think we were joking.
I think right now in total interactive videos and omniflix TV, there is 277 of which 10 of ours are now are ours.
I think I did the math and at some point, gaming nodes will be 25.2% of omniflix TV.
So we're obviously going to push towards total domination.
33.6, right?
As soon as we 33.4, so we get to that.
So we're going to push for a name change.
Yeah.
This is great.
God.TV.
We'll see what happens.
That's not what we're coming for you.
So yeah, we want the flip.
I was about to say we want the dog.
And then I was like, I have no idea what reference for my deepest subconscious that's, that is whoever, whoever can remember what film that's from.
I do anyway.
I noticed it also in this list, like, as Null always points out, we're right next to a bunch of channels with busty chicks.
So we're right through NFT location because there's always NFTs of busty chicks.
So there we are.
We're all in there.
I mean, it's a good trend.
You know,
Romney says speaking with someone execute the proposal.
Geez.
Oh, shit.
Is that still the way I like last month's pay?
I feel like I did pass.
We just didn't send it.
I voted out, but maybe it didn't end yet.
Or I don't know.
Honestly, it's not how my party looks.
I'm sure I executed it, but maybe I didn't because I'm an fucking idiot.
I'll take the book.
Gentle reminder, the dows tapped out.
Yeah, I know.
I think that was it.
I know one last hurrah.
No pay next month.
Okay.
Good thing.
I got that 30 specifically put funds aside to top it up.
I specifically converted everything into fiat just so I could be like, yeah, I got none.
Yeah, everything we hear is shoved into dydx.
I mean, if Rama could wait until I finish my PhD and implement a CBDC, then, you know,
it'd be even easier, even easier to get paid.
I do feel like quite the bag holder usurper, quite the bag holder of dydx.
I mean, we're right outside that set.
And I just keep looking at it like, like this is the longest we've been out of this set.
I think it died out Monday or Sunday or something.
So it's been a few days.
Have you seen the latest?
What's, yeah.
68% now in the top three.
Two of those are virtually a non validators.
The top validator has 100% commission.
Very, very fucking confusing behavior on that chain.
Yeah, it's a bit shady.
The second validator X machiner has 25% commission.
Is the third one 100% to our course ones for I think something like that.
Course is three.
Of course.
Figment is four.
But like the number one has 9.5 million tokens.
Yeah.
Yeah, I reached out to the foundation commission.
I mean, we've been talking to them.
We talked to members foundation for six months and and like just brought up.
We talked about a lot of these types of issues early on, like just poor VP structures and like this, the concern related to this.
And like how chains can halt and the governance aspect of things and like, you know, how, how even like a high VP,
makes the rest of the validator set basically miss blocks because they're so, they're so geographically far from the VP that if they're not in the right region,
then they're just going to keep missing, missing and then never sign.
Right.
We've had that issue before as well.
And well, we haven't had this issue, but obviously changed about this issue.
And so the foundation said they're, you know, they're still talking to strive, but there's not enough history to understand how stride how that team is not just right,
but how that team wants to identify what validators and how they're going to do that.
And if they're going to do that in some sort of liquid staking structure.
And number two, there's also talk about expanding the set, but expanding the set helps us out because we're at least we're putting D.
Towards the validator.
It's actually signing blocks, but it doesn't change the situation in any way.
Just doesn't do anything.
I can't do anything for the network health.
Like it does jack shit for the network health.
So yeah, I mean, it's like all this theater every time, like fucking, but this is pretty bad though.
Compared to like three is like, this is, this is the worst.
I think I've seen in a small validator set, right?
In terms of VP structure on very shady or not necessarily shady and say that unknown anonymous, no history type validators, right?
No cost of history.
Yeah.
So, so I don't know, whatever.
Yeah. And I think the, the, Roma has another good point here.
He says, D.
If you won't do shit about it because it's not run by us.
And we were joking about that as well on a tweet that came out from the D.
Team earlier.
Well, they made that very clear with their tweeters.
They make that over and overly clear every time.
First comment on every post.
We ain't running shit.
This is.
We just, we just got here.
You're talking about.
Yeah.
What's D.
Y.
X.
Man.
I don't know what you're talking about.
We heard of it.
Yeah.
So there's a, is that that decentralized thing on the internet?
What's a validator?
Yeah.
They stay away from that a good amount.
I'm trying to find the tweet related to that.
If I can find it, I'll put it up real quick.
But yeah, it's, yeah, they, they really, they really try to back the back away from that for sure.
So I may, maybe it'll be fine.
I, I, this was like this from the very beginning, but I actually thought that that wouldn't last as long in terms of from, from launch and from the point of.
Of these items coming together or the chain launching everything else associated to that.
That we'd have a validator set like this.
Like it's just, I think it's an extremely unhealthy set.
And it's not really representation.
Like it's, it's not healthy at all.
It'll improve, I think at least Santorini, whoever that is is tapped out in tokens.
Now they've got all of their shit staked.
So they did it over time.
I think so that they didn't have a super majority of the network by the looks of it, but they've just staked the rest of their stuff.
So I guess over time, like it's only a very small percentage of the total tokens is staked anyways, like less than 5%.
I think it's like three, three point something percent.
So I don't know.
Hopefully as more people bring their tokens across, they will look down the listing.
Yeah.
Put some stuff low a bit.
That hasn't proved true so far, but yeah, maybe who knows.
Hanging in there is the hard part.
Yeah, we have, we luckily have received two, you know, relatively sizable.
You just got a big one yesterday.
The day before I thought.
Yeah, we got like a 42,000 and a 25,000 now.
So that's sort of kept us up in the top half at least.
Do you know who that is?
No, just someone who likes the look of the cut of my jib.
Just being in the right spot.
Yeah, you know, it's the orange stands out.
What orange?
In my logo.
It's like a yellowy orange.
That's gold.
Is that what you mean?
Color gold?
Yeah, that color, that gold color.
The yellowy orange.
Really slaps you in the face.
Sorry, I didn't know.
I didn't know gold was on the color swatch.
You know what, I just do it.
You've been watching a friend of the show and who's been on before is Greg Washuri.
I've been watching his Twitter like a cautious actually the USD spend is like going nuts lately because watch that.
No, like the revenue numbers.
I mean, it's always been like a couple hundred bucks a day type of idea, I think.
And just recently, it's I think maybe out of his GPU related or maybe they got some big customers in there.
It's the container side.
I'm not sure what it is, but now it's it's like 10 Xing in the last couple of days.
So maybe, I mean, they're very focused on what the daily numbers are, which I don't think is very interesting to be more interesting to see month over month or year over year.
But but but there's a there's a there's a big revenue.
Not a big.
I mean, I mean, $2,500 a day is 70 grand a month.
That's not like it's not significant in any sort of way.
But but but still like it's it's something that is going the right direction.
Yeah, it's absolutely right direction.
Yeah, for sure.
I mean, they kept working all through the the bear market like they implemented the GPU stuff.
And I think, you know, AI is big.
That'll pay off eventually.
But you know, I just I hope that they've made and I haven't used a cash in a while, but I hope that they've made improvements in like the usability.
Of it and the cost because, you know, previously it was it was getting to a point where it was like a similar cost to getting something that was a little easier to use.
You know what I mean?
I was I thought it was we know I think Fred did some work on this too early on.
I think we were we were determining it was like way more expensive actually, right?
A cash.
Yeah.
And so it was essentially the price of running on AWS except that your node would be down.
Except it wouldn't be working except that you'd be paying Amazon prices for something that was not working.
Yeah.
That they mean and that but that was to be fair and tell them the bull market so prices for everything were a lot higher.
But because of dynamic pricing, you would expect on the cash marketplace that still to be relatively expensive.
Now, we talked about this at the time, like because we were various of folks that we know, including us, including, I believe, short C, maybe polka and others were were approached about running providers and running an exchange for validator delegations from the foundation and whatnot.
But the running providers and becoming a hosting company is you don't want to go there from a regular true perspective.
It's not worth it unless there's a lot of money on the table.
There is not a lot of money on the table.
So that was I think that was in essence the problem there, right?
If you are an infrastructure provider large enough to be a good infrastructure provider, like an actual data center company, you don't just build a data center and be like, let them come.
I mean, some people probably do, right?
But most people don't.
Most people know who their first client is, blah, blah, blah.
These infrastructure, like it's called infrastructure for a reason at that level.
It really is.
And I don't think those guys are going to be looking to run providers on a cash because they already have revenue stream.
I don't know.
People who are just running, renting out a little bit of the spare space in Iraq or whatever, it's just not or even reselling boxes, which I suspected what some of the provider issues we have when we were running.
And this was a couple of years ago, like 18 months ago.
It's probably improved since, but I think that the reselling was probably part of the reason why we were getting shut down because you I was just like, well, maybe it's choking on network or any number of things where it's because, you know, there's one box that's got a bunch of cash stuff running on it and containers.
And the, you know, the end the actual owner of the hardware, whatever that company is, data center is, Hetson or whoever, it's just like, whoa, somebody's breaking out terms of service, shut down that box.
Right.
Then your RPC goes down and you're like, why has my RPC gone down?
And, you know, the provider might actually be providing a solid service that should on paper not go down, but, you know, they breach Hetson's TOS or whatever it might be, right?
So, yeah, I don't know.
I always love the idea of a cash, but I think a GPU thing is driving a lot too, though.
I could see.
Yeah, I mean, maybe maybe that piece of it in terms of there has to be, I mean, obviously the cloud vendors, but the ability to shard time associated to a GPU or something else like that.
I think that sounds, that sounds pretty cool.
So, but yeah, it's good to see that there's revenue coming in.
I hope it grows.
Like I hope that continues forward.
Like it's nice to.
I mean, we always talked this before like a long time ago, but I always like real world use cases that end up in these types of situations.
Like back in the helium days or or a cash and things like that.
So I hope it continues.
It's cool.
Yep.
So I got, I got, I got down the rabbit hole of reading the cosmos forum thread.
That's one of my item.
That's one.
It's one of my brain is decomposing because if you read too much of that shit, it will rot your brain.
Of course, I saw that there.
The first thing I did is to do a command F for 16.
That's what that was my first thing.
Like, who brought it up?
Who brought it up?
BAM.
Zaki.
Do you want to cover any of the Umi osmosis shamanigans?
That's all no, I don't know shit about that.
I don't know shit about that either.
It's the merger, right?
They, I'm sorry, everyone has been skipping over it.
Umi, well, these, these were announcements this week.
They got the, the fucking man.
These are written so hard to understand.
Anyway, I think Umi and osmosis are pro pro pro proposing a merger of some description.
I don't know why osmosis would want to merge with anyone, but that is what was proposed
by, I'm assuming Umi.
And the other one was shortly after that Mars proposed to merge with Neutron.
I guess this is because there are some efficiencies in the protocols, I guess, if you, if you would
emerge them.
But I mean, why merge?
Why not just shut down the chain and, and like run a contract on another chain?
Like some of these chains just don't need chains.
Yeah.
I mean, yeah, I mean, I guess it is effectively buying out Umi.
It's just, it's called a merger to save people's feelings.
But Umi is dead because Umi didn't really ever do anything.
But I mean, why merge at all?
Why not just die?
I think, I think osmosis probably has the funds and it allows them to add functionality very
easily for probably a pretty low price.
It's a good causeful thing to do.
Like it's smack we highest involved.
It's a smart osmosis move, I think for sure.
Like, like, and the other thing, like we always talk about like validators are running out
of cash.
I mean, you can start to see some of these chains are running out of money, right?
Like, which they've lasted a pretty long time with the derivatives not there.
And I think this idea around mergers is like you're getting more and more and more.
And also the next next piece of news as well, right?
Cause then Mars talk about the same thing.
We were literally having this conversation, weren't we?
Cause some of us validate Mars, never, never been profitable, never made any money on it.
And it's just like, well, fuck, it's just a wanted fucking decommission that server.
What's the point?
We have to show the set.
And I think I was like, I was like, ooh, I just, I believe I just shut mine down earlier
on.
It was evident that it was not going to do anything.
So well, I mean, it was never going to be an owner.
So we just, whilst we didn't have too many delegations, we shut it down.
Speaking of that, did you, did you do anything with, with Kujira?
Cause you were threatening.
It's still there for the time being we have lost a lot of delegations for
seemingly no fucking reason whatsoever.
So I don't know, I'll leave it there for the time being.
We're still probably about midway in the set, but I still haven't given my refund
because I can't get access to a, um, a archive node.
I can't find anyone with an archive node.
If anyone knows anyone with an, a synced up archive node, please hit me up.
Yeah.
It's easy to get a hold of.
You can send me a Twitter message or whatever, but Kujira archive seems to be
like at this time non-existent.
There is a team syncing one up on behalf of the Kujira team people.
But yeah, as to where the history is coming from, I don't know,
someone out there must be running one on the network, but I can't find them.
So if anyone knows anyone who's got a Kujira archive, please let me know so
that I can get the information I need to do a refund.
Surely what this podcast is all about is making sure that you get what you need
and using this as a platform.
Yes.
Delegate the YDX.
So I've just re-read the, the Gov prop, um, for neutron Mars merger.
And it's actually essentially deploy new Mars functionality on neutron first,
keep Mars chain running as the Gov chain for the Mars protocol.
But are there any Mars devs left?
Because the only two that I know of are no longer working for Mars.
So what is neutron paying $3 million for?
If the devs aren't there anymore, they can't implement any functionality on neutron
because there are no devs.
There have been no upgrades on Mars.
There's been no security upgrades on Mars.
Um, yeah.
Merger.
Maybe I've misunderstood.
But from the wording on that, it seems like it's, it seems like the Gov chain continues.
It was a ghost town.
Yeah.
There's not Mars anymore, right?
No.
So who is there then?
Who was that started by?
Are they unknowns?
Delphi, I think.
Or somebody, somebody found it by Delphi is some people.
I don't know.
So is it just the most protocol just operating?
Yeah.
Well, I mean, I only knew of two devs.
And then they're not there anymore.
Interesting.
But it was so it's a lot of shouting in the comments being like the Mars chain will die.
And it's like, well, that's not what it says in the actual text of the proposal.
Keep screaming for us to read the headlines.
Is that read the headline?
Read the forum post.
They stink.
Yeah.
This is why we haven't executed the contract.
Okay.
Maybe not.
Okay.
Did you read the headline?
I've read all the way down to the bottom.
And yeah.
Okay.
20.
And it's at the end of the migration period.
The token does move over to a new contract on the neutron chain.
Do you want to guess how long in the future that is?
Five years.
No.
One year.
Oh, well, it's still a very long time.
The thing is, we can get ahead of that by just turning off Mars tomorrow.
We need it.
We need a polka-tube style.
You know, like, a curb proposal.
What was it?
Put down the three-headed dog or whatever it was.
We should just, like, sunset Mars or something, whatever.
Just like, they're just, they're just about to make $3 million and go off into the sunset.
And the validator set just turns off.
Because the validator set, never going to make a fucking cent.
We're never going to make a cent.
We're never going to make any money.
Even if it's migrates, we're not going to make any money.
We've just been running hardware for a year for no fucking reason.
That's thousands and thousands of dollars.
Probably $10,000, maybe more sunk into that.
I don't even know.
Substantial amount of money.
Just like, well, you know, we're not going to make a fucking cent from this.
It's been a big loss maker.
Maybe we should just turn off the chain.
And then you guys don't get to walk away with $3 million.
How about that?
Yeah, $3 million USDC is a pretty large number for this.
Yeah, I think we should just turn off Mars as validators.
Option B. That'd be kind of funny.
Option B, no merger, nothing.
If we don't make money, you don't make money.
Because that's how keeping your stakeholders happy works.
That's going on chain in five minutes time.
What is naming right?
Just put up a software upgrade proposal with a halt height and no plats.
It's just halt height.
Oh, what's happened?
Oh, the commit that you should run at this halt height is one that Freya's written,
which just halts the chain and then immediately outpashes.
That's it.
That's it. Bam.
That is the upgrade.
The upgrade is whatever you do after this, you will outpash.
It's just time dot now.
I think, yeah, Mars definitely wanted you to read the Mars will join the three headed dog.
He's he's going ahead and said it himself.
Yeah, Mars will join three headed dog.
Could you imagine the frustration of poor Rama being our sole supplier of news and having to listen to us butcher it every single fucking week?
Yes.
Yes, I back.
I'm a software engineer now.
I don't my entire life being the butt of the joke of a senior manager who doesn't understand what we do, who can't explain what the vision is trying to, you know, just get another feather in their cap.
And whenever you do get into the room, people like that, they're just like, yeah, blah, blah, blah, blah, blah, blah, blah.
And you're like, oh my God, they have no idea what project they commissioned from us.
They have no idea what the outcomes were.
They have no idea what we did.
They're like, I think it's something that we're doing it away like it's something it does, which it doesn't do.
Why am I here?
Why do we do what we do?
怕다다의
lowattacks