WEBVTT 00:00:00.000 --> 00:00:01.740 Hello, everyone, and welcome back to episode 00:00:01.740 --> 00:00:04.259 four of the Blockchain Bay podcast. Today, Joe 00:00:04.259 --> 00:00:07.059 is interviewing Big Dave and Akiba from CryptoSlate 00:00:07.059 --> 00:00:09.779 .com. CryptoSlate .com is pretty much an all 00:00:09.779 --> 00:00:11.640 -in -one hub of information in the cryptocurrency 00:00:11.640 --> 00:00:14.220 space, and I personally have used it a lot more 00:00:14.220 --> 00:00:16.719 since this interview to get my crypto news. Feel 00:00:16.719 --> 00:00:18.859 free to check it out. Once again, that's CryptoSlate 00:00:18.859 --> 00:00:23.579 .com. Crypto, C -R -Y -P -T -O, Slate, S -L -A 00:00:23.579 --> 00:00:27.859 -T -E .com. We hope you enjoy. Welcome back to 00:00:27.859 --> 00:00:32.399 another podcast. And today we have Big Dave and 00:00:32.399 --> 00:00:36.479 Akiva from Crypto Slate. We are going to talk 00:00:36.479 --> 00:00:39.979 about everything crypto. I want to get a background 00:00:39.979 --> 00:00:43.020 on both of you, how you started in crypto, what 00:00:43.020 --> 00:00:47.100 you do. I believe you both are techies by trade. 00:00:47.479 --> 00:00:53.020 You write for the Crypto Slate website and manage 00:00:53.020 --> 00:00:57.820 that during your day. Take it away, whoever would 00:00:57.820 --> 00:01:00.729 like to start first. Yeah, I can go. So I got 00:01:00.729 --> 00:01:06.629 into crypto in about 2024, mining Dogecoin, hilariously. 00:01:07.269 --> 00:01:11.090 I was running a marketing agency in the UK. We 00:01:11.090 --> 00:01:13.329 did a lot of video production. So we had a whole 00:01:13.329 --> 00:01:17.170 office of video editing machines. So every day 00:01:17.170 --> 00:01:20.469 when people finish work at like five, we taught 00:01:20.469 --> 00:01:23.489 them how to start the Dogecoin miner. Then they 00:01:23.489 --> 00:01:25.010 went home, then they'd stop it in the morning 00:01:25.010 --> 00:01:30.209 when they came back in. yeah there's a funny 00:01:30.209 --> 00:01:32.569 story with that with all the dogecoin that we 00:01:32.569 --> 00:01:35.969 mined uh at the time it was like it was not very 00:01:35.969 --> 00:01:38.090 much in terms of value and it was less than electricity 00:01:38.090 --> 00:01:42.890 and we stupidly decided after just a year or 00:01:42.890 --> 00:01:46.310 something that we might as well just um sell 00:01:46.310 --> 00:01:49.590 it into there was a a company near us called 00:01:49.590 --> 00:01:51.989 scan it's a really good computer hardware store 00:01:51.989 --> 00:01:54.269 and they've accepted bitcoin since like 2018 00:01:54.269 --> 00:01:56.629 or something stupid so we just converted to bitcoin 00:01:56.629 --> 00:01:58.689 and bought a hdmi cable which is in the office 00:01:58.689 --> 00:02:02.349 somewhere um and during the the bull market last 00:02:02.349 --> 00:02:04.810 year that hdmi cable would have been worth six 00:02:04.810 --> 00:02:07.810 figures um so that's my introduction in the crypto 00:02:07.810 --> 00:02:10.770 industry which was hilarious uh we all even people 00:02:10.770 --> 00:02:12.689 that are early obviously don't always make it 00:02:12.689 --> 00:02:15.409 out on top um then carried on running the agency 00:02:15.409 --> 00:02:19.520 until like 2020 2020, I think it was. And then 00:02:19.520 --> 00:02:21.719 during lockdown, I started writing again, which 00:02:21.719 --> 00:02:24.479 is my first love. I actually got my start in 00:02:24.479 --> 00:02:28.000 business as a film director and writer, making 00:02:28.000 --> 00:02:30.860 films. So I went back to that sort of world writing 00:02:30.860 --> 00:02:34.500 and decided that I wanted to actually participate 00:02:34.500 --> 00:02:36.439 in the crypto industry rather than just kind 00:02:36.439 --> 00:02:39.659 of watching it and talking about it and not really 00:02:39.659 --> 00:02:41.879 doing much about it. So I started writing articles 00:02:41.879 --> 00:02:46.590 on the macro state of... financial industry and 00:02:46.590 --> 00:02:51.090 how crypto can help change that um and in 2021 00:02:51.090 --> 00:02:54.210 end of 2021 i decided that i was really done 00:02:54.210 --> 00:02:56.770 with marketing i never enjoyed it i was just 00:02:56.770 --> 00:02:59.669 good at it and went full time uh with crypto 00:02:59.669 --> 00:03:02.469 slate so got rid of my business um stopped doing 00:03:02.469 --> 00:03:04.949 that and actually went from running my own business 00:03:04.949 --> 00:03:07.889 to working for someone else um and that was actually 00:03:08.409 --> 00:03:10.610 strangely the most liberating thing I've ever 00:03:10.610 --> 00:03:12.849 done because the team at Cryptoslate are incredible 00:03:12.849 --> 00:03:16.469 Matt and Nate who run the company just fantastic 00:03:16.469 --> 00:03:21.889 business owners and bosses and yeah I've been 00:03:21.889 --> 00:03:25.969 writing with them now for over a year I'm one 00:03:25.969 --> 00:03:28.889 of the lead editors there And I produced the 00:03:28.889 --> 00:03:30.949 podcast, used my kind of experience from the 00:03:30.949 --> 00:03:33.530 video production world in the crypto space. And 00:03:33.530 --> 00:03:36.710 we interviewed Joe recently on a podcast that 00:03:36.710 --> 00:03:38.889 Dave and I have set up recently called Gathering 00:03:38.889 --> 00:03:40.830 of the Giga Hatch, where we're going around talking 00:03:40.830 --> 00:03:43.909 to different miners and kind of getting a lowdown 00:03:43.909 --> 00:03:45.689 on what they're currently doing during the bear 00:03:45.689 --> 00:03:49.009 market. So, I mean, Dave, over to you on that. 00:03:50.090 --> 00:03:54.729 I'm Big Dave. I mine cryptocurrency now currently. 00:03:55.020 --> 00:03:58.120 I still mine. I haven't stopped mining at all. 00:03:58.199 --> 00:04:01.969 I actually met Akiva Merch Day, I believe. When 00:04:01.969 --> 00:04:05.370 he was doing like an 18 -hour stream or some 00:04:05.370 --> 00:04:08.090 crap. Yeah, so I was trying to figure out exactly 00:04:08.090 --> 00:04:10.370 when the merge would be. Obviously, we couldn't 00:04:10.370 --> 00:04:14.189 tell exactly. And I was trying to get, I think 00:04:14.189 --> 00:04:16.829 we had like 30 guests on the podcast that day, 00:04:16.870 --> 00:04:21.810 like from MetaMask, Consensus. Who else do we 00:04:21.810 --> 00:04:24.730 have? People from Polygon. People all over the 00:04:24.730 --> 00:04:27.910 EVM space. And I was trying to aim it for four 00:04:27.910 --> 00:04:29.569 hours before the merge and four hours after. 00:04:29.709 --> 00:04:31.509 And obviously, as miners started moving off the 00:04:31.509 --> 00:04:33.089 network, it got further and further and further 00:04:33.089 --> 00:04:34.850 away. And what was meant to be an eight hour 00:04:34.850 --> 00:04:37.189 live stream turned into like 14 hours or something 00:04:37.189 --> 00:04:39.930 stupid. And yeah, Dave was with me for a lot 00:04:39.930 --> 00:04:42.610 of that. So we got chatting. Yeah. Yeah. And 00:04:42.610 --> 00:04:45.949 yeah, I started mining cryptocurrency originally 00:04:45.949 --> 00:04:50.189 back in, I guess it was like 2011, back on like 00:04:50.189 --> 00:04:57.269 AMD cards. It was. i don't know it was just sort 00:04:57.269 --> 00:05:00.790 of like a thing that i did for fun um i enjoyed 00:05:00.790 --> 00:05:04.350 the blockchain project like satoshi was active 00:05:04.350 --> 00:05:08.529 still back then like when i first joined um so 00:05:08.529 --> 00:05:12.790 that was kind of cool um i ended up getting out 00:05:12.790 --> 00:05:15.810 of crypto ended up life you know doing other 00:05:15.810 --> 00:05:21.069 things and then uh i got diagnosed um for the 00:05:21.069 --> 00:05:26.889 fourth time uh stage four neuroglia neuro glioblastoma, 00:05:26.889 --> 00:05:31.709 which is brain cancer. And so like instead of 00:05:31.709 --> 00:05:33.649 having to have someone else take care of me while 00:05:33.649 --> 00:05:38.269 I go through treatment, I went and I put $40 00:05:38.269 --> 00:05:43.089 ,000 into graphics cards and whatnot. I refused 00:05:43.089 --> 00:05:46.629 to pay scalper price, which I ended up doing 00:05:46.629 --> 00:05:49.410 through like scalp bag deals anyways. Just ended 00:05:49.410 --> 00:05:51.790 up with a bunch of like motherboards and graphics 00:05:51.790 --> 00:05:56.089 laying around. like building a computer right 00:05:56.089 --> 00:05:59.050 here in fact out of a bunch of those parts and 00:05:59.050 --> 00:06:02.329 uh yeah since then um i've had a lot of free 00:06:02.329 --> 00:06:04.689 time obviously going through treatment and stuff 00:06:04.689 --> 00:06:08.850 so i um started doing like hella research on 00:06:08.850 --> 00:06:12.649 the projects um i mined ethereum at the start 00:06:12.649 --> 00:06:15.949 um i started getting hesitant on mining ethereum 00:06:15.949 --> 00:06:19.410 just because i felt like they were kind of crapping 00:06:19.410 --> 00:06:21.329 on the miners by like doing what they were doing 00:06:21.759 --> 00:06:23.939 And, like, I know it was part of, like, the end 00:06:23.939 --> 00:06:28.019 goal of Ethereum to be not mined on GPU to go 00:06:28.019 --> 00:06:31.220 proof of stake. You know what I mean? But the 00:06:31.220 --> 00:06:34.300 fact of, like, the core miners supported that 00:06:34.300 --> 00:06:38.379 network for so long, like, so long, so much longer 00:06:38.379 --> 00:06:41.199 than they even foresaw going proof of stake. 00:06:41.660 --> 00:06:45.220 And I don't know. I just started looking at all 00:06:45.220 --> 00:06:49.040 these other what everyone calls shit coins. And 00:06:49.040 --> 00:06:50.639 started looking at all these other projects. 00:06:51.079 --> 00:06:54.939 Started talking to miners and YouTubers and going 00:06:54.939 --> 00:06:58.220 into various different spaces. Since then, I've 00:06:58.220 --> 00:07:00.399 made a bunch of high -profile friends in the 00:07:00.399 --> 00:07:02.680 YouTube space. I've made a bunch of high -profile 00:07:02.680 --> 00:07:07.160 friends in the mining space. I've talked to just 00:07:07.160 --> 00:07:10.100 about everybody just to find out what's going 00:07:10.100 --> 00:07:13.660 on and what to mine, what not to mine. I like 00:07:13.660 --> 00:07:16.740 spec mining right now. It's kind of fun because 00:07:16.740 --> 00:07:19.550 it is altcoin season. and like it's not really 00:07:19.550 --> 00:07:23.029 profitable to just sit on one coin not as profitable 00:07:23.029 --> 00:07:26.129 to just sit on one coin as it can be to mine 00:07:26.129 --> 00:07:31.670 all coins like um yeah currently real quick what 00:07:31.670 --> 00:07:35.269 you mean by what you mean by spec mining is mining 00:07:35.269 --> 00:07:39.709 a newer coin that is not on the exchanges yet 00:07:39.709 --> 00:07:42.410 maybe it's on smaller exchanges but really getting 00:07:42.410 --> 00:07:44.850 an abundance of them in case that price pumps 00:07:46.029 --> 00:07:49.189 yeah exactly so my audience my audience is a 00:07:49.189 --> 00:07:51.069 mixed bag some of them are very new to crypto 00:07:51.069 --> 00:07:54.089 some of them have come from the gpu side so i 00:07:54.089 --> 00:07:55.810 always try to break things down as simple as 00:07:55.810 --> 00:07:58.449 possible but that's what a lot of people are 00:07:58.449 --> 00:08:01.269 doing in this bear market right now go ahead 00:08:01.269 --> 00:08:05.269 sorry so like i find projects i do research i 00:08:05.269 --> 00:08:07.790 like research on the developers the projects 00:08:07.790 --> 00:08:11.170 where they came from what their use case is which 00:08:11.170 --> 00:08:13.389 is like a huge thing like if a project doesn't 00:08:13.389 --> 00:08:16.699 have a use case i can't get behind it i can't 00:08:16.699 --> 00:08:19.620 mine it like i just mentally it doesn't make 00:08:19.620 --> 00:08:22.480 sense like why am i doing this who's utilizing 00:08:22.480 --> 00:08:24.540 this network and if the answer is no one then 00:08:24.540 --> 00:08:27.620 it's like nah i can't do that if if the purpose 00:08:27.620 --> 00:08:30.120 of the network is a meme then it's like i can't 00:08:30.120 --> 00:08:32.759 do that it's the reason why i didn't get on like 00:08:32.759 --> 00:08:36.200 pink chain or doge or anything like that like 00:08:36.200 --> 00:08:39.159 i know doge has since become an actual network 00:08:39.159 --> 00:08:43.720 which is kind of funny but it's it's just like 00:08:44.240 --> 00:08:45.779 i don't know that's that's just where i come 00:08:45.779 --> 00:08:48.580 from really i don't know i kind of love cryptocurrency 00:08:48.580 --> 00:08:51.179 i love helping people figure out their rigs and 00:08:51.179 --> 00:08:53.299 problems and stuff when i when i got into it 00:08:53.299 --> 00:08:55.919 i stuttered so bad that i didn't want to talk 00:08:55.919 --> 00:09:00.259 to people i um i used to fumble my words and 00:09:00.259 --> 00:09:02.440 stuff like i was relearning how to like talk 00:09:02.440 --> 00:09:06.980 and uh so like i did everything myself it took 00:09:06.980 --> 00:09:09.299 me like 16 hours to figure out how to set up 00:09:09.299 --> 00:09:12.480 hive because like i remember like i used like 00:09:12.480 --> 00:09:16.360 i went to school for coding and programming but 00:09:16.360 --> 00:09:19.340 that's all gone like it might as well not be 00:09:19.340 --> 00:09:23.299 there now like the certificates are useless um 00:09:23.299 --> 00:09:26.179 since then i've been learning a bunch as well 00:09:26.179 --> 00:09:29.759 and deving help while helping to dev and do alpha 00:09:29.759 --> 00:09:31.679 testing on a bunch of miners that have been coming 00:09:31.679 --> 00:09:38.919 out for other spec coins so i did pin the crypto 00:09:38.919 --> 00:09:43.460 slate url in uh in the chat You guys in the chat, 00:09:43.620 --> 00:09:46.659 go ahead, take a look. And your channel for YouTube 00:09:46.659 --> 00:09:49.720 is also just Crypto Slate. Now, can you give 00:09:49.720 --> 00:09:53.759 us a little rundown on what you guys do there 00:09:53.759 --> 00:09:57.299 as far as what type of content you're producing, 00:09:57.419 --> 00:10:02.279 what your mission is? Yeah, sure. So there's 00:10:02.279 --> 00:10:04.559 two parts to Crypto Slate. So one is news media. 00:10:06.539 --> 00:10:08.100 reporting on what's going on in the industry. 00:10:08.200 --> 00:10:11.700 And the other part is a data directory and research. 00:10:12.759 --> 00:10:16.500 So we've got a ton of data. You can basically 00:10:16.500 --> 00:10:19.000 use CryptoSlate similar to sort of CoinMarketCap 00:10:19.000 --> 00:10:22.740 or CoinGecko in terms of the data. But we have 00:10:22.740 --> 00:10:24.960 things like different sectors. We have like proof 00:10:24.960 --> 00:10:26.679 of work coins, proof of stake coins, dedicated 00:10:26.679 --> 00:10:31.519 POS. Like for Dave, there's a cannabis industry 00:10:31.519 --> 00:10:33.399 section where you can go and look at the cannabis 00:10:33.399 --> 00:10:37.110 related tokens and such. and our researchers 00:10:37.110 --> 00:10:41.029 work really closely with like glass node and 00:10:41.029 --> 00:10:45.990 nansen so we do a lot of detailed reports from 00:10:45.990 --> 00:10:49.049 them we're currently building out this quarter 00:10:49.049 --> 00:10:54.509 a new on -chain product, which is going to be 00:10:54.509 --> 00:10:56.750 with Access Protocol, where you'll be able to 00:10:56.750 --> 00:10:59.509 get access to even more sort of data and insights 00:10:59.509 --> 00:11:03.330 through staking tokens on Access Protocol. So 00:11:03.330 --> 00:11:05.470 we're kind of moving into being an actual Web3 00:11:05.470 --> 00:11:07.309 business ourselves rather than just kind of reporting 00:11:07.309 --> 00:11:11.019 on Web3. but the thing the reason why i joined 00:11:11.019 --> 00:11:14.360 the company was i was looking for for sites to 00:11:14.360 --> 00:11:16.440 to write for and i was i was writing for ben 00:11:16.440 --> 00:11:19.620 zinger at the time um and flicking through the 00:11:19.620 --> 00:11:22.559 back end of the site i found that there's literally 00:11:22.559 --> 00:11:25.279 a page on the crypto slate website which is how 00:11:25.279 --> 00:11:27.860 we make money and that level of transparency 00:11:27.860 --> 00:11:31.399 was something that just really blew my mind um 00:11:31.399 --> 00:11:34.879 and then when i spoke to the editorial team the 00:11:34.879 --> 00:11:39.860 focus on accuracy and integrity were paramount 00:11:39.860 --> 00:11:42.679 above everything else and in the crypto industry 00:11:42.679 --> 00:11:44.659 there's like a running joke that like crypto 00:11:44.659 --> 00:11:46.600 journalists aren't real journalists and i think 00:11:46.600 --> 00:11:49.519 that can be actually true for a lot of sites 00:11:49.519 --> 00:11:55.139 in the space um i'm not saying that i don't i 00:11:55.139 --> 00:11:57.000 don't want to stop my next sentence i haven't 00:11:57.000 --> 00:11:59.879 just said that but that aside you've also got 00:11:59.879 --> 00:12:02.279 issues with like block recently having ties to 00:12:02.279 --> 00:12:05.200 fbs being a huge big scandal obviously coindesk 00:12:05.200 --> 00:12:07.779 is owned by digital currency group which is the 00:12:07.779 --> 00:12:10.700 company behind genesis and grayscale which is 00:12:10.700 --> 00:12:13.659 also in a lot of trouble so one of the things 00:12:13.659 --> 00:12:15.720 that i'm really proud about is the fact that 00:12:15.720 --> 00:12:18.120 crypto slate kind of doesn't have any tarnished 00:12:18.120 --> 00:12:21.220 sort of history or past it's super transparent 00:12:21.220 --> 00:12:24.259 the people that run the company are doing it 00:12:24.259 --> 00:12:27.539 for a love of the industry and a lot of blockchain 00:12:28.299 --> 00:12:32.700 And if one of our advertisers screws up, we'll 00:12:32.700 --> 00:12:35.139 write the article about it. There's nothing in 00:12:35.139 --> 00:12:39.539 terms of editorial that gets... If I want to 00:12:39.539 --> 00:12:41.700 write something and it's factually correct, then 00:12:41.700 --> 00:12:45.120 I have full sort of leeway to do that. And I'm 00:12:45.120 --> 00:12:48.179 not necessarily sure that's the same with some 00:12:48.179 --> 00:12:50.840 of the other people in the space. They've got 00:12:50.840 --> 00:12:53.620 a lot of, say, the funding or ties to big projects. 00:12:53.879 --> 00:12:57.299 We're fully independent. And AJ, who's our chief 00:12:57.299 --> 00:13:00.080 editor, his goal is to make CryptoSlate into 00:13:00.080 --> 00:13:02.940 sort of the financial times of the crypto industry, 00:13:03.200 --> 00:13:05.899 something that can be trusted, respected, doesn't 00:13:05.899 --> 00:13:07.779 have an agenda. You could argue whether that's 00:13:07.779 --> 00:13:10.480 the case or not in Web2. But from our point of 00:13:10.480 --> 00:13:13.480 view, everything we report on, we make sure is 00:13:13.480 --> 00:13:15.139 correct. And that's kind of one of the things 00:13:15.139 --> 00:13:18.200 that I really love about working with CryptoSlate 00:13:18.200 --> 00:13:21.779 and the ties that I've made with projects. Dave 00:13:21.779 --> 00:13:24.899 was saying about kind of top people in the space 00:13:24.899 --> 00:13:26.940 that you've met. I've been sort of blown away 00:13:26.940 --> 00:13:28.840 at the amount of people I've been able to meet 00:13:28.840 --> 00:13:30.940 through doing this. And kind of my telegram is 00:13:30.940 --> 00:13:35.889 now full of kind of. senior people on pretty 00:13:35.889 --> 00:13:39.590 much every network. I almost got killed by CZ 00:13:39.590 --> 00:13:42.009 as well. When I was at Paris Blockchain Week, 00:13:42.169 --> 00:13:44.429 his bodyguard almost pushed me down the stairs. 00:13:44.549 --> 00:13:45.970 He was trying to push through a load of people 00:13:45.970 --> 00:13:49.230 and he pushed me out the way and I literally 00:13:49.230 --> 00:13:52.190 stumbled down two or three stone stairs outside. 00:13:52.549 --> 00:13:56.889 I almost got murdered by CZ. I absolutely love 00:13:56.889 --> 00:13:59.820 the site. Just like with everything, it's like 00:13:59.820 --> 00:14:02.480 security in crypto and stuff. So you don't just 00:14:02.480 --> 00:14:04.460 trust one source. Like if you want to get your 00:14:04.460 --> 00:14:06.779 news, like go to multiple places. But the one 00:14:06.779 --> 00:14:08.879 thing I can say from knowing the inside team 00:14:08.879 --> 00:14:12.200 and coming from Web 2 into Web 3 is if it's reported 00:14:12.200 --> 00:14:14.360 on CryptoSlate, then it's been checked and there's 00:14:14.360 --> 00:14:16.159 no agenda behind it. And that's what I love about 00:14:16.159 --> 00:14:22.039 it. Anything to add to that, Dave? CryptoSlate 00:14:22.039 --> 00:14:27.309 kicks ass. I've been using CryptoSlate for my 00:14:27.309 --> 00:14:32.029 news research legitimately for years now. Before 00:14:32.029 --> 00:14:36.809 ever meeting Akiba, I was on their website when 00:14:36.809 --> 00:14:39.929 I saw that they were streaming for the merch. 00:14:40.289 --> 00:14:45.149 I was doing research for other YouTubers because 00:14:45.149 --> 00:14:49.350 behind the scenes, I feed people topics and ideas 00:14:49.350 --> 00:14:53.710 and stuff. A bunch of our friends. I don't know. 00:14:54.470 --> 00:14:59.710 And yeah, I just I haven't actually formally 00:14:59.710 --> 00:15:02.549 got to talk to Nate. But from what I've seen, 00:15:02.610 --> 00:15:05.149 he's an absolutely great human, a little shy, 00:15:05.370 --> 00:15:08.049 but like a really, really great human. Like, 00:15:08.110 --> 00:15:09.769 I want to give him a hug and be like, it's OK, 00:15:09.889 --> 00:15:15.690 man. Don't worry. It's here. But yeah, the company 00:15:15.690 --> 00:15:18.070 as a whole seems pretty solid. They seem pretty 00:15:18.070 --> 00:15:21.409 open to their their writers doing what they want, 00:15:21.490 --> 00:15:25.539 how they want. um i love the fact that when akiba 00:15:25.539 --> 00:15:28.740 shot the idea of running a youtube in a stream 00:15:28.740 --> 00:15:31.860 that they were all about it they said yeah hell 00:15:31.860 --> 00:15:35.200 yeah go for it and like it's just that kind of 00:15:35.200 --> 00:15:39.259 they have like a blockchain mentality in a formal 00:15:39.259 --> 00:15:41.559 company i guess like that's that's like when 00:15:41.559 --> 00:15:43.200 akiba was saying like all their accounting and 00:15:43.200 --> 00:15:46.259 everything is like just right there everything's 00:15:46.259 --> 00:15:48.840 just for everyone to see it's very blockchain 00:15:48.840 --> 00:15:51.480 -esque in in the way that they run their company 00:15:51.480 --> 00:15:54.120 and it's yeah and and not doubling down on leverage 00:15:54.120 --> 00:15:57.840 and yolo bets like the company yeah and they 00:15:57.840 --> 00:16:01.179 don't surf for they don't surf for ads you know 00:16:01.179 --> 00:16:03.879 what i mean like they don't try to get like tons 00:16:03.879 --> 00:16:06.299 and tons of people to come in like it's products 00:16:06.299 --> 00:16:09.779 they believe in if anything let me personally 00:16:09.779 --> 00:16:13.200 thank you guys and the ladies and gentlemen over 00:16:13.200 --> 00:16:17.279 at crypto slate for your work because The crypto 00:16:17.279 --> 00:16:19.879 and blockchain space needs more of this. People 00:16:19.879 --> 00:16:24.019 who are honest, who believe in this industry 00:16:24.019 --> 00:16:27.159 and who want to see what's best, who want to 00:16:27.159 --> 00:16:30.759 get actual factual information out rather than 00:16:30.759 --> 00:16:34.279 promoting an agenda. Probably one of my biggest 00:16:34.279 --> 00:16:38.179 irritants of being a YouTuber is watching the 00:16:38.179 --> 00:16:41.039 misinformation that's spread by someone who wants 00:16:41.039 --> 00:16:43.960 to sell affiliate codes or someone who just needs 00:16:43.960 --> 00:16:48.220 more clicks. So on that, here's an actual example 00:16:48.220 --> 00:16:50.159 of it. So there's a project called Core Blockchain 00:16:50.159 --> 00:16:53.820 that I invited over to Slovakia to go meet to 00:16:53.820 --> 00:16:55.340 see their infrastructure and see what they're 00:16:55.340 --> 00:16:58.100 actually doing. So I went over there, made a 00:16:58.100 --> 00:17:00.879 video while I was there. And after seeing everything, 00:17:01.019 --> 00:17:02.419 I was really blown away with what they're doing. 00:17:02.500 --> 00:17:04.680 I think they've got a huge mountain to climb 00:17:04.680 --> 00:17:07.859 to get anywhere. But the actual infrastructure. 00:17:08.490 --> 00:17:11.230 it feels true to the mission of crypto that it's 00:17:11.230 --> 00:17:14.109 peer -to -peer it's proof of work it's designed 00:17:14.109 --> 00:17:16.930 for sort of iot devices um it's definitely something 00:17:16.930 --> 00:17:20.670 you should look at by the way um and while i 00:17:20.670 --> 00:17:22.529 was there i can connect you to the team while 00:17:22.529 --> 00:17:24.190 i was there they offered me an ambassador role 00:17:24.190 --> 00:17:28.190 to help kind of grow the ecosystem and i sort 00:17:28.190 --> 00:17:30.660 of said to them i was like that's fine but And 00:17:30.660 --> 00:17:32.880 I'm open to it. But if you want me to carry on 00:17:32.880 --> 00:17:35.079 reporting on anything, then I can't do it. We 00:17:35.079 --> 00:17:37.440 decided to go ahead with it. And now as a result, 00:17:37.539 --> 00:17:41.019 I won't cover any core blockchain related topics 00:17:41.019 --> 00:17:44.359 on the website. I'll pitch them. I'll put them 00:17:44.359 --> 00:17:46.380 in our pitches channel. If another journalist 00:17:46.380 --> 00:17:48.460 picks them up and writes them, then they will 00:17:48.460 --> 00:17:50.779 write them. But in terms of like conflicts of 00:17:50.779 --> 00:17:53.359 interest. we like the journalists won't write 00:17:53.359 --> 00:17:54.960 about projects that are involved with in any 00:17:54.960 --> 00:17:57.079 way at all which is the complete antithesis of 00:17:57.079 --> 00:17:59.240 what you're sort of saying is going on elsewhere 00:17:59.240 --> 00:18:01.500 in the industry like i literally took a step 00:18:01.500 --> 00:18:03.180 back and said cool i'll be an ambassador of the 00:18:03.180 --> 00:18:04.980 project but i won't report on it anymore because 00:18:04.980 --> 00:18:06.099 no one's going to trust it no one's going to 00:18:06.099 --> 00:18:08.680 believe it If I've got ambassador for core blockchain 00:18:08.680 --> 00:18:11.259 on my Twitter description, who wants to read 00:18:11.259 --> 00:18:13.319 an article from me about it? Because it feels 00:18:13.319 --> 00:18:16.740 to be biased. As much as I will still call them 00:18:16.740 --> 00:18:19.259 out if they do something that's incorrect, I 00:18:19.259 --> 00:18:20.599 can do that on my own Twitter, but I can't write 00:18:20.599 --> 00:18:22.059 an article about it because no one's going to 00:18:22.059 --> 00:18:27.779 believe it. It's the efficacy of media or what 00:18:27.779 --> 00:18:31.039 used to be the efficacy of media where it's not, 00:18:31.039 --> 00:18:33.960 you know, brought to you by Pfizer. It's like, 00:18:33.980 --> 00:18:37.710 you know what I mean? Yeah. no kidding it's not 00:18:37.710 --> 00:18:42.309 that aspect and i love it i love it i don't know 00:18:42.309 --> 00:18:44.769 since just doing some podcasts and stuff and 00:18:44.769 --> 00:18:47.009 having the the ability to reach out to people 00:18:47.009 --> 00:18:50.630 the fact that people know who it is um like getting 00:18:50.630 --> 00:18:53.750 the a bunch of like devs and stuff in which is 00:18:53.750 --> 00:18:55.529 going to be kind of cool we have me and akiba 00:18:55.529 --> 00:18:57.970 haven't really like talked about that yet but 00:18:57.970 --> 00:19:01.869 yeah i got the nexa team coming in for a podcast 00:19:01.869 --> 00:19:05.150 it is it is awesome to have your own platform 00:19:05.150 --> 00:19:08.089 it's awesome great to be known within a community 00:19:08.089 --> 00:19:12.529 i mean for me having this platform means getting 00:19:12.529 --> 00:19:17.269 forming serious opinions and having meaningful 00:19:17.269 --> 00:19:19.970 debates whether it's on live stream of video 00:19:19.970 --> 00:19:23.329 putting together instructional material just 00:19:23.329 --> 00:19:26.450 uh helping further the community along and the 00:19:26.450 --> 00:19:29.890 people who are just new here helping them find 00:19:29.890 --> 00:19:32.710 their way so they're not ripped off and taken 00:19:32.710 --> 00:19:37.380 advantage of but i i really like how it's you 00:19:37.380 --> 00:19:40.940 know i get to bring on people like you two gentlemen 00:19:40.940 --> 00:19:45.200 who have substance who have opinions have something 00:19:45.200 --> 00:19:48.720 that you you'd like to discuss with the audience 00:19:48.720 --> 00:19:53.019 but i can also bring in people like travis who's 00:19:53.019 --> 00:19:55.279 here in the audience he's come on my live stream 00:19:55.279 --> 00:19:58.940 before and he's a wealth of knowledge or other 00:19:58.940 --> 00:20:02.960 people directly from specific communities or 00:20:02.960 --> 00:20:06.559 other other people like to um mine any sort of 00:20:06.559 --> 00:20:10.420 crypto but you you get to kind of direct the 00:20:10.420 --> 00:20:12.779 conversation in the manner you you want it to 00:20:12.779 --> 00:20:16.480 go like i said i i try to do it objectively for 00:20:16.480 --> 00:20:21.480 the better and you know i i know i'm a little 00:20:21.480 --> 00:20:27.079 abrasive and can be opinionated but i value honesty 00:20:27.079 --> 00:20:30.240 you're like a downy sheet compared to me buddy 00:20:31.680 --> 00:20:34.960 i'm sorry that's important and that's why like 00:20:34.960 --> 00:20:37.400 like during this whole bonk thing that's been 00:20:37.400 --> 00:20:40.380 going on on solana like there's three articles 00:20:40.380 --> 00:20:43.180 that have covered it on crystal slate one was 00:20:44.129 --> 00:20:48.970 talking about the massive gains on the first 00:20:48.970 --> 00:20:51.869 day when it got popular. But the article clearly 00:20:51.869 --> 00:20:53.789 points out, what do we actually know about this 00:20:53.789 --> 00:20:57.450 project? And let's say nothing. So it helps investors. 00:20:57.710 --> 00:20:59.950 Then after that, it was a detailed breakdown 00:20:59.950 --> 00:21:03.230 of the holders who got airdropped it, the fact 00:21:03.230 --> 00:21:06.210 there's no white paper, and then reported on 00:21:06.210 --> 00:21:09.640 it crashing by 140 million or whatever. if if 00:21:09.640 --> 00:21:11.539 they see a new project either we won't cover 00:21:11.539 --> 00:21:14.019 meme coins at all but if they become part of 00:21:14.019 --> 00:21:17.220 like the meta part of the zeitgeist then we'll 00:21:17.220 --> 00:21:20.319 cover it but in a way that is just neutral and 00:21:20.319 --> 00:21:22.519 gives people an insight into what's going on 00:21:22.519 --> 00:21:24.180 so i think that's like this whole bong thing 00:21:24.180 --> 00:21:26.000 like you look on say crypto twitter and everyone's 00:21:26.000 --> 00:21:27.440 just talking about the gains it's all the crypto 00:21:27.440 --> 00:21:29.319 bros like i'm gonna make my money ultimately 00:21:29.319 --> 00:21:31.319 like you're saying dave like if it's not got 00:21:31.319 --> 00:21:34.180 any substance or any structure any utility to 00:21:34.180 --> 00:21:37.000 it then it is just you're just gambling which 00:21:37.000 --> 00:21:39.150 is fine if you want to gamble but know what you're 00:21:39.150 --> 00:21:44.230 doing. I used to be a firm believer of if it 00:21:44.230 --> 00:21:47.490 didn't have a white paper, I wouldn't mind it 00:21:47.490 --> 00:21:51.769 until I started seeing projects arise that came 00:21:51.769 --> 00:21:55.190 from the developers of other projects. And they 00:21:55.190 --> 00:21:58.170 arose through like being visible, going like, 00:21:58.210 --> 00:22:01.589 we don't like this. This needs to be fixed. You're 00:22:01.589 --> 00:22:04.269 not fixing this. now we're going public with 00:22:04.269 --> 00:22:06.690 that you're not fixing this this needs to be 00:22:06.690 --> 00:22:09.849 fixed what the hell okay you're not fixing it 00:22:09.849 --> 00:22:13.009 still we quit we're making our own five and then 00:22:13.009 --> 00:22:17.549 so like the the build up to the why it exists 00:22:17.549 --> 00:22:20.930 kind of doesn't really need a white paper yeah 00:22:20.930 --> 00:22:23.549 and a lot of a lot of white papers nowadays just 00:22:23.549 --> 00:22:26.690 kind of seem like a a media hustle yeah it could 00:22:26.690 --> 00:22:29.980 go both ways it's certainly yeah and here's the 00:22:29.980 --> 00:22:32.140 thing why some some products don't have white 00:22:32.140 --> 00:22:35.619 papers is because this is a pet peeve of mine 00:22:35.619 --> 00:22:38.920 there's many developers who just don't want to 00:22:38.920 --> 00:22:42.180 do the documentation they don't want to go through 00:22:42.180 --> 00:22:45.500 the hours of revising that crap and you know 00:22:45.500 --> 00:22:47.480 they're they're more concerned and focused on 00:22:47.480 --> 00:22:51.339 the code and i understand from a sense but you 00:22:51.339 --> 00:22:53.460 have to look at the broader picture but that 00:22:53.460 --> 00:22:57.009 does happen yeah and the reason for that is there's 00:22:57.009 --> 00:22:59.309 too many there's a lot of developers in the space 00:22:59.309 --> 00:23:02.430 and a lot of people with big ideas um and not 00:23:02.430 --> 00:23:04.589 enough actual business people at the end of the 00:23:04.589 --> 00:23:06.289 day because ultimately these are businesses that 00:23:06.289 --> 00:23:08.769 need to be run um and they need to be run properly 00:23:08.769 --> 00:23:11.730 and so much of this like so i do still do some 00:23:11.730 --> 00:23:15.029 consultancy uh as well with projects and that's 00:23:15.029 --> 00:23:17.359 kind of why i'm an ambassador for core but When 00:23:17.359 --> 00:23:19.299 you're looking at what's going on, there's tons 00:23:19.299 --> 00:23:21.720 of projects that are live and still have crap 00:23:21.720 --> 00:23:23.920 documentation for developers. Like when you compare 00:23:23.920 --> 00:23:26.900 it to Web 2, the ability to pick up a Web 3 project 00:23:26.900 --> 00:23:30.259 and just get started is terrible. So we do need 00:23:30.259 --> 00:23:33.599 to bring kind of the best of Web 2 into Web 3 00:23:33.599 --> 00:23:36.359 and make sure that, but then try and also kick 00:23:36.359 --> 00:23:40.119 out the crap. the overabundance of VC funding, 00:23:40.339 --> 00:23:44.079 like we've seen coming out during this bear market, 00:23:44.180 --> 00:23:47.420 which I personally view as pretty much the same 00:23:47.420 --> 00:23:50.799 as the .com level. That's what we're going through 00:23:50.799 --> 00:23:54.700 right now. We're getting rid of all the fake 00:23:54.700 --> 00:23:56.720 projects, the projects that have no substance, 00:23:56.900 --> 00:23:58.160 the ones that are never going to make it on a 00:23:58.160 --> 00:24:00.519 long time frame, the grifters that are taking 00:24:00.519 --> 00:24:04.569 advantage, SBF, etc. um and that's why i'm actually 00:24:04.569 --> 00:24:08.410 so bullish when you go to events like uh sort 00:24:08.410 --> 00:24:11.049 of end of last year i was uh um i was at acc 00:24:11.049 --> 00:24:13.849 i was at zebra live i went to power spot chain 00:24:13.849 --> 00:24:18.269 week um i went to asm ball and every single one 00:24:18.269 --> 00:24:20.930 of them the like no one's talking about the price 00:24:20.930 --> 00:24:23.440 of bitcoin or any other crypto. No one's checking 00:24:23.440 --> 00:24:24.839 their portfolios. No one cares what the price 00:24:24.839 --> 00:24:28.059 is. It's just workshops and conversations about 00:24:28.059 --> 00:24:31.140 how to carry on building an infrastructure and 00:24:31.140 --> 00:24:34.019 improve the user experience of Web3 to get it 00:24:34.019 --> 00:24:36.660 in line with what's going on in Web2. It's the 00:24:36.660 --> 00:24:39.940 same people that were here before the bull run. 00:24:40.839 --> 00:24:47.140 Every time. And those people, that's how you 00:24:47.140 --> 00:24:50.039 got to measure a metric is who was here before 00:24:50.039 --> 00:24:53.599 the bull run. and who's still here whether it's 00:24:53.599 --> 00:24:56.000 the devs behind the project we're here before 00:24:56.000 --> 00:24:59.440 the bull run and are still here afterwards whether 00:24:59.440 --> 00:25:04.319 it's a new project or the same project and and 00:25:04.319 --> 00:25:07.960 outside of that the people that a lot of the 00:25:07.960 --> 00:25:09.759 people that come into crypto not all of them 00:25:09.759 --> 00:25:13.119 but a lot of them during these um parabolic bull 00:25:13.119 --> 00:25:17.269 runs are people that are looking to make a quick 00:25:17.269 --> 00:25:18.869 buck, which is absolutely fine. And we've all 00:25:18.869 --> 00:25:21.009 done it. We've all traded during the bull runs 00:25:21.009 --> 00:25:23.490 and tried to maximize profit as much as possible. 00:25:23.930 --> 00:25:27.109 But that's not the core use case of crypto. It's 00:25:27.109 --> 00:25:30.529 not buying low and selling high. It's changing 00:25:30.529 --> 00:25:32.670 the financial system of the world. And that requires 00:25:32.670 --> 00:25:36.059 a big... infrastructure and we're nowhere near 00:25:36.059 --> 00:25:38.839 that yet so your last guest he was talking about 00:25:38.839 --> 00:25:41.759 so we need the crypto bros um in order to get 00:25:41.759 --> 00:25:44.440 adoption i actually don't agree with that concept 00:25:44.440 --> 00:25:46.700 because those are not the people that will stay 00:25:46.700 --> 00:25:49.500 long term what we need is to continue improving 00:25:49.500 --> 00:25:52.079 the user experience of everything in web3 so 00:25:52.079 --> 00:25:55.319 that and the use cases make it so that your mum 00:25:55.319 --> 00:25:57.819 your nan your aunt your dad can do something 00:25:57.819 --> 00:26:01.900 with Web3 and not have to learn a whole load 00:26:01.900 --> 00:26:06.119 of new terminology and have lessons from the 00:26:06.119 --> 00:26:08.980 kids on how to get on board with it. And they're 00:26:08.980 --> 00:26:10.279 the people that matter. And they're the people 00:26:10.279 --> 00:26:12.859 that come in in the next five to 10 years. And 00:26:12.859 --> 00:26:15.140 it's a long -term play. And yeah, you can get 00:26:15.140 --> 00:26:17.140 really rich in the meantime if you get things 00:26:17.140 --> 00:26:21.400 right. But I'm happy if Bitcoin trades sideways 00:26:21.400 --> 00:26:24.859 now until the next halving, which I expect it 00:26:24.859 --> 00:26:28.720 to do. um just keep on buying whatever crypto 00:26:28.720 --> 00:26:30.640 projects you like what has good infrastructure 00:26:30.640 --> 00:26:34.079 um and like say helium is one of those that like 00:26:34.079 --> 00:26:36.599 the overall infrastructure of it like when you 00:26:36.599 --> 00:26:38.920 look on the the explorer and you see all the 00:26:38.920 --> 00:26:42.740 the dots all over the map it's just it's amazing 00:26:42.740 --> 00:26:45.599 to see that that's come from a community it's 00:26:45.599 --> 00:26:48.079 come from that's not for the most part, unless 00:26:48.079 --> 00:26:50.160 I'm completely incorrect with this, from like 00:26:50.160 --> 00:26:54.220 big corporations buying hotspots and placing 00:26:54.220 --> 00:26:55.680 them around everywhere, they're all in people's 00:26:55.680 --> 00:26:58.680 homes. And that infrastructure, I think we talked 00:26:58.680 --> 00:27:02.480 about this on our podcast, can also be reallocated 00:27:02.480 --> 00:27:04.339 to other things in future. And the fact that 00:27:04.339 --> 00:27:06.960 that technology is there, that's one of the most 00:27:06.960 --> 00:27:09.059 exciting things for me, that we have this potential 00:27:09.059 --> 00:27:12.440 peer -to -peer network that's already in place. 00:27:12.700 --> 00:27:17.380 That's why I need to get one in my hands. Like 00:27:17.380 --> 00:27:20.799 I've helped set people's up. I just have never 00:27:20.799 --> 00:27:25.059 had one. So I want to ask you guys what your 00:27:25.059 --> 00:27:30.539 definition for Web3 is. Everyone buries a little 00:27:30.539 --> 00:27:33.460 bit different. It's a very widely used term. 00:27:33.680 --> 00:27:37.700 But if you were to quantify Web3, what would 00:27:37.700 --> 00:27:42.059 you summarize it as? Blockchain enabled infrastructure. 00:27:43.279 --> 00:27:46.579 Yeah, programs built on the blockchain is exactly 00:27:46.579 --> 00:27:48.940 what I was going to say. Yeah, so I mean, there's 00:27:48.940 --> 00:27:53.660 a... Like video games built on a blockchain. 00:27:54.720 --> 00:27:59.539 I see Web3 as any application that uses blockchain 00:27:59.539 --> 00:28:01.759 as the core part of its technology. And then 00:28:01.759 --> 00:28:04.900 there's also a term which is Web5, which is becoming 00:28:04.900 --> 00:28:08.740 more and more popular in the sort of consulting 00:28:08.740 --> 00:28:11.700 space around bringing current Web2 companies, 00:28:11.839 --> 00:28:15.220 traditional tech and SaaS businesses, and helping 00:28:15.220 --> 00:28:17.599 them figure out how they can take advantage of 00:28:17.599 --> 00:28:20.339 blockchain technology. with maybe just a part 00:28:20.339 --> 00:28:22.380 of their business. And the first step for a lot 00:28:22.380 --> 00:28:23.980 of those has just been, oh, let's launch an NFT 00:28:23.980 --> 00:28:28.539 project. Why? Because we can. Okay, great. You 00:28:28.539 --> 00:28:32.099 go do that. But there's projects like, I was 00:28:32.099 --> 00:28:36.599 talking to a VC, a near event that I was moderating, 00:28:36.680 --> 00:28:39.599 and he was talking about a very, very, very well 00:28:39.599 --> 00:28:43.160 -known fashion brand that is using blockchain 00:28:43.160 --> 00:28:47.619 for their supply chain management. By using NFTs, 00:28:47.680 --> 00:28:49.519 they're not calling them NFTs, just calling them 00:28:49.519 --> 00:28:53.119 vouchers. And what they're doing is they're using 00:28:53.119 --> 00:28:55.559 the redeemable vouchers so they can track where 00:28:55.559 --> 00:28:57.559 they were purchased. Because this huge company 00:28:57.559 --> 00:28:59.559 still has no idea where people are buying their 00:28:59.559 --> 00:29:01.259 products from. Because when they ask them, they 00:29:01.259 --> 00:29:03.000 lie and they tell them they bought them from 00:29:03.000 --> 00:29:05.339 the more expensive store than when they actually 00:29:05.339 --> 00:29:07.599 got it from on discount somewhere. So they're 00:29:07.599 --> 00:29:10.160 using NFTs as part of their infrastructure. That's 00:29:10.160 --> 00:29:12.019 not going to make the price of any token go up. 00:29:12.329 --> 00:29:13.930 because it's not related to anything else that 00:29:13.930 --> 00:29:15.690 is using blockchain technology for something 00:29:15.690 --> 00:29:18.910 that has a real world implementation. And that's 00:29:18.910 --> 00:29:21.710 something that is like there are such things 00:29:21.710 --> 00:29:23.230 as private blockchains. We're not going to get 00:29:23.230 --> 00:29:25.269 rich off them, but they have a lot of power. 00:29:25.410 --> 00:29:28.430 And that's why I consider myself like a blockchain 00:29:28.430 --> 00:29:31.890 maximalist, not Bitcoin, not Ethereum, not any 00:29:31.890 --> 00:29:34.390 form of crypto. It's the core concept of blockchain 00:29:34.390 --> 00:29:37.170 and what that can do. And it's actually not that 00:29:37.170 --> 00:29:40.829 sexy at the end of the day. And one of the problems 00:29:40.829 --> 00:29:44.029 that we've got with Web3 is so many of the Web3 00:29:44.029 --> 00:29:47.470 projects talk about how many transactions per 00:29:47.470 --> 00:29:52.490 second they can do or how easy their wallet is 00:29:52.490 --> 00:29:54.170 or how it can be integrated into different things. 00:29:54.450 --> 00:29:57.029 You don't see a social media app talking about 00:29:57.029 --> 00:30:00.450 how their new app is built using React Native 00:30:00.450 --> 00:30:03.369 as the main selling point for their website because 00:30:03.369 --> 00:30:05.880 no one gives a crap. They talk about what it's 00:30:05.880 --> 00:30:08.680 going to do. And that's, for me, the issue that 00:30:08.680 --> 00:30:11.240 we currently have in Web3 is there's so many 00:30:11.240 --> 00:30:14.819 techy people. We love the tech part of it. We 00:30:14.819 --> 00:30:17.019 want to rant and rave about the tech. But ultimately, 00:30:17.160 --> 00:30:18.660 the end user doesn't care. They just want to 00:30:18.660 --> 00:30:20.660 know what they can do with it. And I think Helium 00:30:20.660 --> 00:30:24.519 definitely suffers from that in that other than 00:30:24.519 --> 00:30:26.539 mining for it, what can the average person do 00:30:26.539 --> 00:30:33.259 right now? i know you only asked what is web3 00:30:33.259 --> 00:30:35.859 and i sort of also i mean you answered another 00:30:35.859 --> 00:30:38.920 one of my questions which was going to be what 00:30:38.920 --> 00:30:43.680 what is your i guess your niche or your what 00:30:43.680 --> 00:30:49.980 your favorite um subcategory in the crypto space 00:30:49.980 --> 00:30:53.980 whether it be you know yeah web gaming yeah blockchain 00:30:53.980 --> 00:31:00.400 web3 uh Tip -ins, DAOs, DeFi, whatever it may 00:31:00.400 --> 00:31:02.920 be. But Dave, you go ahead. What was the first 00:31:02.920 --> 00:31:07.400 question I asked? What's your definition of Web3? 00:31:10.279 --> 00:31:13.220 Yeah, like Akiva said, pretty much anything that 00:31:13.220 --> 00:31:15.940 uses blockchain as part of its core integral 00:31:15.940 --> 00:31:23.319 part of its operations. It's kind of like a new 00:31:23.319 --> 00:31:26.700 -ish term and people need to get... like accustomed 00:31:26.700 --> 00:31:29.119 to what the different layers are. Like there's 00:31:29.119 --> 00:31:32.440 layer one, web three, layer two, web three, layer 00:31:32.440 --> 00:31:37.559 three, web three as well. They're all kind of 00:31:37.559 --> 00:31:40.880 all misconstrued. Everybody has like all these 00:31:40.880 --> 00:31:43.440 different things that everybody's saying and 00:31:43.440 --> 00:31:45.599 they have no real idea what the hell's going 00:31:45.599 --> 00:31:49.200 on. For me, it's just any project that has like 00:31:49.200 --> 00:31:54.849 blockchain in their core. If the blockchain wasn't 00:31:54.849 --> 00:31:57.670 there, the project couldn't exist. And like, 00:31:57.690 --> 00:32:01.029 poof, gone. And that's the key aspect, I guess, 00:32:01.049 --> 00:32:06.670 to it. One of the really cool Web3 projects that 00:32:06.670 --> 00:32:10.569 I saw was from Zilliqa, actually brought to my 00:32:10.569 --> 00:32:14.609 attention from Akiba here. They had like this 00:32:14.609 --> 00:32:17.670 console that like they had their own hardware 00:32:17.670 --> 00:32:21.359 wallet on the console. uh the whole console when 00:32:21.359 --> 00:32:23.779 you weren't playing games on it and i played 00:32:23.779 --> 00:32:28.019 web 3 games so that's kind of cool when you weren't 00:32:28.019 --> 00:32:33.039 playing games it mined for you my uh silica and 00:32:33.039 --> 00:32:35.059 so like i thought that was kind of cool the thing 00:32:35.059 --> 00:32:37.559 looked like this beastie it almost looked like 00:32:37.559 --> 00:32:39.859 a laptop that was closed like a gaming laptop 00:32:39.859 --> 00:32:43.279 that was closed it was really cool looking and 00:32:43.279 --> 00:32:45.480 um yeah i don't know i guess that's my definition 00:32:45.480 --> 00:32:48.000 of web 3 what's your favorite part about the 00:32:48.000 --> 00:32:54.319 crypto space Blockchain, DAOs, tip -ins, Web3. 00:32:54.799 --> 00:32:58.400 None of the above. None of the above. My favorite 00:32:58.400 --> 00:33:00.259 thing about the crypto space is people like you 00:33:00.259 --> 00:33:04.720 guys. It's the community. It's the miners. It's 00:33:04.720 --> 00:33:08.339 the people that want to build the projects. It's 00:33:08.339 --> 00:33:11.900 the devs. I've been working with Wildrig dev 00:33:11.900 --> 00:33:14.579 for the last, I don't know, a month and a half. 00:33:14.900 --> 00:33:17.400 That guy is just a freaking savage. He's in the 00:33:17.400 --> 00:33:20.299 Ukraine. there's bombs going off around his ass 00:33:20.299 --> 00:33:23.519 and and he's still sitting there coding for like 00:33:23.519 --> 00:33:27.500 when he was off off work when he's on work when 00:33:27.500 --> 00:33:30.079 he's working he's still coding by the way but 00:33:30.079 --> 00:33:32.759 what he's when he's not working he's coding for 00:33:32.759 --> 00:33:37.759 like 18 hours a day for a minor that he doesn't 00:33:37.759 --> 00:33:40.019 essentially make all that much from like there 00:33:40.019 --> 00:33:43.200 was a bounty for the one code that we were working 00:33:43.200 --> 00:33:47.019 on and he made ten thousand dollars uh usd to 00:33:47.740 --> 00:33:51.440 build that open source miner for it so he did 00:33:51.440 --> 00:33:54.440 that and like that's kind of cool like the projects 00:33:54.440 --> 00:33:57.099 that are supporting the miners supporting the 00:33:57.099 --> 00:34:00.019 the dev teams of the miners it's kind of awesome 00:34:00.019 --> 00:34:06.140 that's my favorite part i find it really hard 00:34:06.140 --> 00:34:09.159 to find a part and when we have kind of beats 00:34:09.159 --> 00:34:11.599 i don't really tend to take any any sort of beats 00:34:13.039 --> 00:34:15.480 in terms of my reporting because i'm interested 00:34:15.480 --> 00:34:17.380 in so many different parts of it like the potential 00:34:17.380 --> 00:34:20.840 like dows the potential for dows to to change 00:34:20.840 --> 00:34:24.059 the way that business and politics is done around 00:34:24.059 --> 00:34:27.219 the world um i think i was interviewing guy from 00:34:27.219 --> 00:34:30.739 coin bureau and he said that he thinks that dows 00:34:30.739 --> 00:34:35.340 are the the biggest existential threat to politicians 00:34:35.340 --> 00:34:37.659 that has ever been and i find that fascinating 00:34:38.250 --> 00:34:40.510 like it's going to take a really long time we 00:34:40.510 --> 00:34:43.090 need to improve things but the potential for 00:34:43.090 --> 00:34:46.130 a dow based infrastructure to actually be a part 00:34:46.130 --> 00:34:50.730 of governing um sovereign nations is is just 00:34:50.730 --> 00:34:54.969 fascinating um but in terms of ultimately ultimately 00:34:54.969 --> 00:34:59.869 just because it's blockchain it's governing one 00:34:59.869 --> 00:35:03.909 nation it's like humanity you know what i mean 00:35:03.909 --> 00:35:06.090 everybody's all like gung -ho about all the one 00:35:06.090 --> 00:35:09.019 world one Government, blah, blah, blah. It's 00:35:09.019 --> 00:35:12.820 like, nah, man. Yeah, can you elaborate on the 00:35:12.820 --> 00:35:15.659 DAO, the Central Autonomous Organization? Yeah, 00:35:15.659 --> 00:35:19.199 please. The structure, what all goes into organizing 00:35:19.199 --> 00:35:23.400 that? Because I think there's a lot of ignorance 00:35:23.400 --> 00:35:26.260 or misconceptions around that particular subject, 00:35:26.360 --> 00:35:29.400 even though we hear them shoehorned into just 00:35:29.400 --> 00:35:32.400 about any project in the crypto space, because 00:35:32.400 --> 00:35:36.099 it's the coolest thing to do in many areas of 00:35:36.099 --> 00:35:42.929 crypto. Well, I think in terms of the DAO infrastructure 00:35:42.929 --> 00:35:45.570 and what I'm excited about, it's the ability 00:35:45.570 --> 00:35:51.230 to have a publicly auditable, secure governance. 00:35:52.969 --> 00:35:54.989 Because the thing with DAOs is that people sort 00:35:54.989 --> 00:35:57.130 of miss it. They think, oh, you can't use DAOs 00:35:57.130 --> 00:36:00.210 for governments because it's all on -chain. But 00:36:00.210 --> 00:36:02.829 again, you can have privacy enabled blockchains 00:36:02.829 --> 00:36:05.590 and you can utilize that like the cabinet or 00:36:05.590 --> 00:36:09.730 the Senate, whatever you have in your constitution 00:36:09.730 --> 00:36:13.409 can have its own private blockchain that is only 00:36:13.409 --> 00:36:15.909 available to certain wallets that can then vote 00:36:15.909 --> 00:36:19.090 on specific matters that need to be kept private 00:36:19.090 --> 00:36:21.250 for national security. You can then have a public 00:36:21.250 --> 00:36:25.989 blockchain that's utilized for, say, national 00:36:25.989 --> 00:36:28.730 elections and the such and the ability to like 00:36:28.730 --> 00:36:30.809 in the moment the way that most DAOs are run 00:36:30.809 --> 00:36:32.489 is obviously the more tokens that you hold the 00:36:32.489 --> 00:36:34.050 more voting power you have but that doesn't necessarily 00:36:34.050 --> 00:36:36.349 have to be the case it could be like you could 00:36:36.349 --> 00:36:39.750 airdrop one token to everyone in the country 00:36:39.750 --> 00:36:41.809 and that's their vote they could choose to delegate 00:36:41.809 --> 00:36:44.030 it to someone else to vote on their behalf if 00:36:44.030 --> 00:36:46.949 they wanted to um and the fact they can all be 00:36:46.949 --> 00:36:49.619 transparent and you can be as involved as you 00:36:49.619 --> 00:36:52.320 want to with the voting process and politics 00:36:52.320 --> 00:36:55.019 is something that's it's amazing but in order 00:36:55.019 --> 00:36:58.619 to get there it's a long -term horizon um in 00:36:58.619 --> 00:37:02.739 the short term sort of local issues can easily 00:37:02.739 --> 00:37:06.139 be managed through DAOs by sort of taking, say, 00:37:06.219 --> 00:37:08.280 local government. I'd love to see local governments 00:37:08.280 --> 00:37:12.199 implement more DAO -based infrastructure so you 00:37:12.199 --> 00:37:15.760 can actually get fair democratic voting in a 00:37:15.760 --> 00:37:18.000 way that everyone can audit it just by looking 00:37:18.000 --> 00:37:20.260 at the blockchain and see whether the votes from 00:37:20.260 --> 00:37:22.159 the wallets went to the right place. You won't 00:37:22.159 --> 00:37:25.760 have any sort of upset about potential of like... 00:37:25.760 --> 00:37:30.440 Where a corporation doesn't have a voice. where 00:37:30.440 --> 00:37:33.239 a corporation doesn't have a voice where where 00:37:33.239 --> 00:37:37.119 where every wallet doesn't you know count you 00:37:37.119 --> 00:37:39.340 know it's just i mean there's obviously like 00:37:39.340 --> 00:37:40.980 so there's loads of difficulties you need to 00:37:40.980 --> 00:37:42.739 deal with because obviously like corporations 00:37:42.739 --> 00:37:45.579 could airdrop tokens for votes and things um 00:37:45.579 --> 00:37:48.800 so you could try and pay people to get your votes 00:37:48.800 --> 00:37:50.480 so there's a lot that needs to be done to get 00:37:50.480 --> 00:37:54.699 that to work um but i'm super excited about the 00:37:54.699 --> 00:37:57.039 transparency of what we can do and the decentralized 00:37:57.039 --> 00:37:59.119 nature of it it means that you can you can spin 00:37:59.119 --> 00:38:02.460 up a business start a dow and allow anyone that 00:38:02.460 --> 00:38:04.760 that wants you to get involved and and that's 00:38:04.760 --> 00:38:07.880 great um i'm wondering if you could use like 00:38:07.880 --> 00:38:10.199 the nft locking measure because like there's 00:38:10.199 --> 00:38:12.440 a measure to like lock the nft to your wallet 00:38:12.440 --> 00:38:14.900 um i'm wondering if you could do that with like 00:38:14.900 --> 00:38:18.679 the voting system yeah i mean tokens like sobound 00:38:18.679 --> 00:38:22.829 tokens for it as well And as such. But in the 00:38:22.829 --> 00:38:25.150 short term, it's definitely gaming on blockchain, 00:38:25.349 --> 00:38:29.070 which has me the most excited. I was privileged 00:38:29.070 --> 00:38:32.969 to be one of the judges for the Game with a Three 00:38:32.969 --> 00:38:37.489 Awards this year from PokerStarter. And I got 00:38:37.489 --> 00:38:39.889 to speak to and see a lot of gaming projects. 00:38:40.730 --> 00:38:42.849 And the thing that really blows my mind with 00:38:42.849 --> 00:38:45.369 gaming blockchain is that the user experience 00:38:45.369 --> 00:38:49.210 is far beyond anything else, far beyond DeFi, 00:38:49.349 --> 00:38:54.369 far beyond sort of DAO -based structures. They're 00:38:54.369 --> 00:38:56.389 looking to ways that you can bring, like there's 00:38:56.389 --> 00:38:58.369 games on Web3 that you don't need to set up a 00:38:58.369 --> 00:39:01.070 wallet in order to start playing. And then you 00:39:01.070 --> 00:39:03.710 can create your wallet at a later date once you've 00:39:03.710 --> 00:39:05.630 realized, oh, there's some value in this. And 00:39:05.630 --> 00:39:10.699 now that gaming has moved away from this, sort 00:39:10.699 --> 00:39:16.300 of it's very much a pay to win a mentality that 00:39:16.300 --> 00:39:18.139 it's all just about how much money you can make 00:39:18.139 --> 00:39:19.639 and then that also makes you better at the game 00:39:19.639 --> 00:39:21.400 where you look games like axiom and the such 00:39:21.400 --> 00:39:25.599 yeah and moving more into like ability for plays 00:39:25.599 --> 00:39:31.949 in a game really high difficulty tasks like you 00:39:31.949 --> 00:39:33.550 think of like imagine world of warcraft has a 00:39:33.550 --> 00:39:36.469 system where you get a really rare nft drop for 00:39:36.469 --> 00:39:38.849 being the world's first to do a raid and then 00:39:38.849 --> 00:39:42.369 you actually have that nft that only well like 00:39:42.369 --> 00:39:44.590 how many people is in a party in a while like 00:39:44.590 --> 00:39:46.570 five ten something like ten people in the world 00:39:46.570 --> 00:39:49.570 have it um that's gonna have value people if 00:39:49.570 --> 00:39:51.829 they then decided okay i'm done with wow and 00:39:51.829 --> 00:39:54.909 sell your nft sell your collection and move on 00:39:54.909 --> 00:39:57.539 to another game um And that really helps for 00:39:57.539 --> 00:39:59.420 game developers as well, like balancing. Because 00:39:59.420 --> 00:40:01.059 when you make a game now, you need to balance 00:40:01.059 --> 00:40:03.219 it for your casual gamers. You need to balance 00:40:03.219 --> 00:40:05.239 it for gamers that have kids. You need to balance 00:40:05.239 --> 00:40:08.000 it for hardcore Twitch streamers. It might be 00:40:08.000 --> 00:40:11.340 a way to get rid of all these stupid microtransactions 00:40:11.340 --> 00:40:13.780 in these games, like where you're buying skins 00:40:13.780 --> 00:40:17.119 and buying this and buying that and all these 00:40:17.119 --> 00:40:20.639 upgrade packs. It'd be a way like everyone could 00:40:20.639 --> 00:40:23.250 access it because... They're playing the game 00:40:23.250 --> 00:40:25.710 and then they have a way to gain the currency 00:40:25.710 --> 00:40:29.030 while playing the game. Yeah, exactly. But it 00:40:29.030 --> 00:40:30.510 should be done based on skill -based activities 00:40:30.510 --> 00:40:32.030 rather than just clicking buttons. We don't want 00:40:32.030 --> 00:40:33.590 a whole world of people just clicking a button 00:40:33.590 --> 00:40:38.949 in order to earn revenue. But then there's also 00:40:38.949 --> 00:40:40.849 like for the games developers, like they can 00:40:40.849 --> 00:40:45.250 put like a 1 % royalty fee for every NFT transaction. 00:40:45.510 --> 00:40:47.630 And even when the game servers go and people 00:40:47.630 --> 00:40:49.429 are just trading those NFTs as collectibles, 00:40:49.690 --> 00:40:52.440 that game studio is still making revenue. You 00:40:52.440 --> 00:40:55.260 don't need to think short term. How can we make 00:40:55.260 --> 00:40:58.340 a new expansion for our game with the most microtransactions 00:40:58.340 --> 00:41:00.440 to make loads of money? You can just build a 00:41:00.440 --> 00:41:03.340 game that gradually grows and evolves. And over 00:41:03.340 --> 00:41:06.260 time, the more popular the game is, the more 00:41:06.260 --> 00:41:08.659 people are trading the items. You're making revenue 00:41:08.659 --> 00:41:10.920 just on that alone. And people aren't going to 00:41:10.920 --> 00:41:13.119 care if it's like 1 % or something when they're 00:41:13.119 --> 00:41:16.659 just trading stuff between people. So that's 00:41:16.659 --> 00:41:18.719 the industry that's the furthest ahead. And my 00:41:18.719 --> 00:41:22.869 view is... the web 3 gaming will probably lead 00:41:22.869 --> 00:41:24.570 the next bull run because they don't care about 00:41:24.570 --> 00:41:26.530 the price like when you're playing the game and 00:41:26.530 --> 00:41:28.670 utilizing blockchain whatever the private coin 00:41:28.670 --> 00:41:31.130 in doesn't matter for you and what's that game 00:41:31.130 --> 00:41:34.650 war 3 i think which is a web 3 project i think 00:41:34.650 --> 00:41:38.429 it's called war 3 it's like um a cod type of 00:41:38.429 --> 00:41:42.349 game right okay it's a shooter um the one there's 00:41:42.349 --> 00:41:44.329 loads like the amount of games built on unreal 00:41:44.329 --> 00:41:46.670 now in web 3 is crazy like my favorite one's 00:41:46.670 --> 00:41:48.510 game for big time which is like a dungeon crawler 00:41:48.809 --> 00:41:50.809 And it's amazing. Graphics are incredible. And 00:41:50.809 --> 00:41:53.050 to start playing that game, you just log in and 00:41:53.050 --> 00:41:55.090 you start playing. That's it. You can log in 00:41:55.090 --> 00:41:57.289 with a Google account and then link it to a wallet 00:41:57.289 --> 00:42:01.449 later on. Like get gamers in and playing. So 00:42:01.449 --> 00:42:03.989 I think I actually feel that Bitcoin may follow. 00:42:03.989 --> 00:42:06.150 You don't send me an invite to this awesome game. 00:42:06.670 --> 00:42:08.889 I can get you an invite to Big Time. It's because 00:42:08.889 --> 00:42:10.789 I'm white, isn't it? Because I'm white. It is. 00:42:11.429 --> 00:42:14.889 Yeah. Great white male. Got a hate on me. Yeah, 00:42:14.889 --> 00:42:19.070 yeah. I get it. Are those your pronouns? Yeah, 00:42:19.110 --> 00:42:21.130 straight white male, straight white Jewish male. 00:42:21.230 --> 00:42:23.409 I'm the most hated demographic on the planet. 00:42:25.469 --> 00:42:31.570 So, all right, so back to the discussion. Can 00:42:31.570 --> 00:42:36.550 you really dumb it down to why you would need 00:42:36.550 --> 00:42:42.389 a blockchain for any sort of gaming, right? What 00:42:42.389 --> 00:42:46.559 transactions exactly are you tracking? How does 00:42:46.559 --> 00:42:49.260 it benefit the game? I'm not too much of a gamer. 00:42:49.340 --> 00:42:52.659 I can understand a few of the reasons. Like the 00:42:52.659 --> 00:42:56.500 skins. For example, you could get limited skins 00:42:56.500 --> 00:43:02.079 that are then bound to your wallet. If they try 00:43:02.079 --> 00:43:04.559 to ban your account, it's still on your wallet, 00:43:04.659 --> 00:43:07.340 right? If the database gets hacked or they have 00:43:07.340 --> 00:43:11.119 a glitch, it's still in your possession. Exactly. 00:43:12.139 --> 00:43:16.030 You'd still have a seed phrase. so forth and 00:43:16.030 --> 00:43:18.670 so forth to like recover your wallet if that 00:43:18.670 --> 00:43:22.429 ever were to happen um i mean it's very much 00:43:22.429 --> 00:43:25.449 in the culture that we have today is very much 00:43:25.449 --> 00:43:27.869 a renting culture we rent everything we don't 00:43:27.869 --> 00:43:30.349 buy dvds anymore we pay for a netflix subscription 00:43:30.349 --> 00:43:33.590 and you're renting access to things games as 00:43:33.590 --> 00:43:35.670 a service which is the one of the most popular 00:43:35.670 --> 00:43:38.010 like fortnite is a prime example of this you 00:43:38.010 --> 00:43:39.809 all those skins that you're buying in fortnite 00:43:39.809 --> 00:43:44.690 you're just renting them only like from um epic 00:43:44.690 --> 00:43:47.389 because if the game goes down, those skins are 00:43:47.389 --> 00:43:50.909 gone. If they ban your account, the skins are 00:43:50.909 --> 00:43:54.849 gone. On that basis, what does it matter? If 00:43:54.849 --> 00:43:56.489 the game's not there anymore, why do you want 00:43:56.489 --> 00:43:59.489 those things? I've got a shelf back there full 00:43:59.489 --> 00:44:03.449 of N64 and Mega Drive games that I don't know 00:44:03.449 --> 00:44:05.469 where my Mega Drive is anymore, but I just love 00:44:05.469 --> 00:44:08.150 it as a memory. It's a collectible. In a world 00:44:08.150 --> 00:44:09.929 that's moving more and more digital, then digital 00:44:09.929 --> 00:44:13.250 collectibles are going to... always be a thing 00:44:13.250 --> 00:44:15.090 going forward it's just how they're implemented 00:44:15.090 --> 00:44:17.989 um but there's plenty of there's plenty of things 00:44:17.989 --> 00:44:20.530 that you can do with blockchain and gaming um 00:44:20.530 --> 00:44:22.070 it's not just necessarily about the skins it's 00:44:22.070 --> 00:44:26.469 also about generally things that cost money for 00:44:26.469 --> 00:44:28.030 game developers obviously developing the game 00:44:28.030 --> 00:44:29.969 itself once it's out it's maintaining the game 00:44:29.969 --> 00:44:31.929 and obviously it's managing the servers and one 00:44:31.929 --> 00:44:34.550 of the things that they all miss for me is the 00:44:34.550 --> 00:44:37.230 fact that they need place that player base is 00:44:37.230 --> 00:44:39.510 a resource and it should be something they actually 00:44:39.510 --> 00:44:42.219 have to pay for to a degree. People play to play 00:44:42.219 --> 00:44:44.300 the game, but once they've started playing, the 00:44:44.300 --> 00:44:46.159 game developers don't want to lose those players 00:44:46.159 --> 00:44:47.619 because otherwise they lose more and more players 00:44:47.619 --> 00:44:49.960 and the game falls down. Whereas by utilizing 00:44:49.960 --> 00:44:53.219 blockchain and giving people real hard assets 00:44:53.219 --> 00:44:56.000 for playing the game means they have two options. 00:44:56.139 --> 00:44:57.579 Either they can use those assets and carry on 00:44:57.579 --> 00:44:59.659 playing the game, or they can sell them to someone 00:44:59.659 --> 00:45:02.159 else who can then get into the game at a level 00:45:02.159 --> 00:45:05.619 where they want to be. It's the ability to reward 00:45:05.619 --> 00:45:11.960 and pay your... players for um this honor of 00:45:11.960 --> 00:45:14.519 having them Because we need these gamers. And 00:45:14.519 --> 00:45:17.739 Web3 allows you to kind of find ways to incentivize 00:45:17.739 --> 00:45:19.880 people to carry on playing. And obviously the 00:45:19.880 --> 00:45:21.559 fact that it's kind of an immutable blockchain 00:45:21.559 --> 00:45:26.699 for things like esports is incredible. There's 00:45:26.699 --> 00:45:29.800 been a load of cases over the years of people 00:45:29.800 --> 00:45:31.639 in certain countries around the world or people 00:45:31.639 --> 00:45:33.820 that are under 18 winning esports tournaments 00:45:33.820 --> 00:45:36.239 and then not being able to get paid the winnings 00:45:36.239 --> 00:45:38.659 because they don't have a bank account or they 00:45:38.659 --> 00:45:42.380 can't receive payments in that currency. Whereas 00:45:42.380 --> 00:45:45.900 when you're doing an esports tournament on blockchain, 00:45:46.199 --> 00:45:48.300 you get paid as soon as the tournament. So it 00:45:48.300 --> 00:45:49.739 goes straight into your wallet. It can be written 00:45:49.739 --> 00:45:52.619 into the smart contracts. So anyone can get paid 00:45:52.619 --> 00:45:55.380 for it. Well, let me add on top of that. When 00:45:55.380 --> 00:46:01.940 we first seen Bitcoin after 2008, the people 00:46:01.940 --> 00:46:04.599 who were most open minded to it and probably 00:46:04.599 --> 00:46:08.679 the earliest adopters. I mean, I don't know because 00:46:08.679 --> 00:46:12.369 I wasn't there necessarily, but I. The reading 00:46:12.369 --> 00:46:14.989 that I've done, it was the gamers because they 00:46:14.989 --> 00:46:18.650 were already familiar with the fact that there's 00:46:18.650 --> 00:46:22.289 tokens on any given game, World of Warcraft, 00:46:22.730 --> 00:46:25.909 RuneScape, whatever you play. I don't know. I 00:46:25.909 --> 00:46:27.489 don't play games. Those are the ones I played 00:46:27.489 --> 00:46:31.869 when I was like 13, right? But if you can sell 00:46:31.869 --> 00:46:34.010 that for money on a forum. So a couple of weeks 00:46:34.010 --> 00:46:39.000 ago. Dude, someone at the gas station asked me 00:46:39.000 --> 00:46:42.039 if I was 18 and he was being serious. Yeah, I 00:46:42.039 --> 00:46:45.780 can see it. Come on, man. You got to go to you. 00:46:45.840 --> 00:46:50.480 I can't. I grow a little bit of shadow. I can't 00:46:50.480 --> 00:46:53.239 do anything. That's all right. I hope I do. I 00:46:53.239 --> 00:46:57.639 do look 18. I'll run with it. Anyways. You're 00:46:57.639 --> 00:47:00.420 45 and then it all falls out. Yeah, it's going 00:47:00.420 --> 00:47:04.820 to be terrible. what are we getting at here oh 00:47:04.820 --> 00:47:08.239 so then i was watching another uh documentary 00:47:08.239 --> 00:47:12.940 i forget exactly which one it was but it was 00:47:12.940 --> 00:47:18.119 uh trump's former chief strategist steve bannon 00:47:18.119 --> 00:47:21.059 when he worked at goldman sachs they were actually 00:47:21.059 --> 00:47:25.059 looking at investing in like the gold mining 00:47:25.059 --> 00:47:28.820 aspect of different games as a digital currency 00:47:29.579 --> 00:47:32.800 So this thought has been around for a long time, 00:47:32.920 --> 00:47:38.559 just in general, in the gaming space. But blockchain 00:47:38.559 --> 00:47:41.179 is what made it happen. It's what made that. 00:47:41.260 --> 00:47:44.119 When we say immutable, it just means it can't 00:47:44.119 --> 00:47:50.239 be changed. Like it's an object that is going 00:47:50.239 --> 00:47:54.300 to be in that form forever. And you've also then 00:47:54.300 --> 00:47:57.719 got the ability to take that, say it's an NFT 00:47:57.719 --> 00:48:00.639 from a game. for another developer to come along 00:48:00.639 --> 00:48:02.920 and build a game and support the NFTs for another 00:48:02.920 --> 00:48:05.300 game, whether it's through an official partnership 00:48:05.300 --> 00:48:08.380 or not. And you are seeing games like Gensokishi, 00:48:08.639 --> 00:48:11.500 which is a Japanese RPG. They're doing partnerships 00:48:11.500 --> 00:48:15.360 with other games where you can basically mine. 00:48:16.300 --> 00:48:19.659 like tokens and nfts in one game and then use 00:48:19.659 --> 00:48:21.800 them in another there's other projects that are 00:48:21.800 --> 00:48:24.719 kind of trying to build metaverses with rare 00:48:24.719 --> 00:48:28.579 um commodities in them which are then other games 00:48:28.579 --> 00:48:30.480 so those commodities are building blocks in other 00:48:30.480 --> 00:48:33.579 games you'll have like i can see a world where 00:48:33.579 --> 00:48:35.679 we have a gaming infrastructure where you're 00:48:35.679 --> 00:48:39.820 playing different games to mine or to acquire 00:48:40.730 --> 00:48:43.369 digital assets to play in another game and create 00:48:43.369 --> 00:48:45.190 a whole ecosystem where you can jump between 00:48:45.190 --> 00:48:47.369 them and that sounds great it sounds loads of 00:48:47.369 --> 00:48:54.369 fun yeah now do up to this point have we seen 00:48:54.369 --> 00:48:59.050 the adoption in game as many people have predicted 00:48:59.050 --> 00:49:02.489 and has been expected so one of the one of the 00:49:02.489 --> 00:49:04.130 really interesting things i wrote on this about 00:49:04.130 --> 00:49:07.750 a month and a half ago in the user attention 00:49:07.750 --> 00:49:12.710 in Web3 gaming is 10 times that of Web2. So when 00:49:12.710 --> 00:49:15.230 people start playing Web3 games, they're 10 times 00:49:15.230 --> 00:49:17.570 more likely to carry on playing than they were 00:49:17.570 --> 00:49:20.090 in Web2 because they're getting real assets out 00:49:20.090 --> 00:49:23.210 of it. When you look at things like DeFi, user 00:49:23.210 --> 00:49:25.639 attention is going through the floor. especially 00:49:25.639 --> 00:49:27.699 at the moment. So that's one of the reasons why 00:49:27.699 --> 00:49:30.380 I'm so bullish about the space. I think one of 00:49:30.380 --> 00:49:32.619 the big issues that Web3 gaming suffers from 00:49:32.619 --> 00:49:36.099 is the sort of demonization of blockchain, crypto 00:49:36.099 --> 00:49:38.820 and NFTs. There's so many gamers that just see 00:49:38.820 --> 00:49:41.659 NFTs as being a new way to do microtransactions 00:49:41.659 --> 00:49:44.960 and it could be. Just like in all essence, crypto 00:49:44.960 --> 00:49:48.460 can be the savior of the world or through CBDCs 00:49:48.460 --> 00:49:51.119 could be the way that we're... all controlled 00:49:51.119 --> 00:49:52.659 for the rest of our lives and never able to do 00:49:52.659 --> 00:49:55.400 anything we want ever again so like we are building 00:49:55.400 --> 00:49:57.079 this technology that is very dangerous and very 00:49:57.079 --> 00:49:59.539 powerful and it's about having the right people 00:49:59.539 --> 00:50:01.659 involved which is why i'd echo what dave was 00:50:01.659 --> 00:50:03.239 saying about the thing about the space is the 00:50:03.239 --> 00:50:05.440 people like we need people in it that are willing 00:50:05.440 --> 00:50:08.719 to build for the cause and the mission for what 00:50:08.719 --> 00:50:10.260 what blockchain is meant to do and that's one 00:50:10.260 --> 00:50:12.039 of the main reasons why i got into it like i 00:50:12.039 --> 00:50:15.050 was I won the geographical lottery of being born 00:50:15.050 --> 00:50:18.289 in the UK to two amazing parents. They worked 00:50:18.289 --> 00:50:20.949 their asses off, came from literally nothing. 00:50:21.050 --> 00:50:22.869 Mum was picking up coal in the street in Ireland 00:50:22.869 --> 00:50:26.070 when she was born, one of eight, did really well. 00:50:26.489 --> 00:50:28.349 I've not really ever wanted for anything in my 00:50:28.349 --> 00:50:30.650 life. And I want to use that kind of privileged 00:50:30.650 --> 00:50:32.489 position to build something that's going to make 00:50:32.489 --> 00:50:34.489 a difference to other people in the world. And 00:50:34.489 --> 00:50:37.829 for me, when you look at what can do that, blockchain 00:50:37.829 --> 00:50:39.980 is the thing. Like blockchain is the way that 00:50:39.980 --> 00:50:42.199 can actually help disenfranchise people around 00:50:42.199 --> 00:50:44.679 the world. But we need people to carry on building 00:50:44.679 --> 00:50:46.440 it that actually believe in that vision rather 00:50:46.440 --> 00:50:49.679 than just how to make a few extra bucks. I agree. 00:50:49.880 --> 00:50:53.579 What were you going to say, Dave? I totally blanked. 00:50:53.639 --> 00:50:58.000 Lost your thought. If you guys have a hard stop, 00:50:58.280 --> 00:51:01.780 let me know. Otherwise, we can keep going. It's 00:51:01.780 --> 00:51:06.539 a good conversation. I probably need to go off 00:51:06.539 --> 00:51:10.920 in like 15. also all right yeah that works we'll 00:51:10.920 --> 00:51:13.619 hit just about an hour then because i think we 00:51:13.619 --> 00:51:17.860 started about seven eight minutes later so that 00:51:17.860 --> 00:51:24.199 works great so we hit dows we hit blockchain 00:51:24.199 --> 00:51:31.699 in game and talked about nfts a little bit what 00:51:31.699 --> 00:51:34.440 else were we getting at here one of the crappy 00:51:34.440 --> 00:51:37.949 internet questions that i have Yeah, I know. 00:51:38.769 --> 00:51:45.070 This is not good. Akiba was thinking exactly 00:51:45.070 --> 00:51:48.949 the same thing at the same time. Probably. Can 00:51:48.949 --> 00:51:50.489 you not get yourself a Starlink or something 00:51:50.489 --> 00:51:54.329 if you're in a crappy area? I can. I might have 00:51:54.329 --> 00:51:57.630 to do that. I've got one downstairs I'm not using 00:51:57.630 --> 00:52:00.610 if you want to buy it off me. We'll see. I don't 00:52:00.610 --> 00:52:03.630 think I have that kind of money right now. Yes. 00:52:04.269 --> 00:52:13.019 Yes. What criteria would you consider needed 00:52:13.019 --> 00:52:17.940 to, let me rephrase, for something to be decentralized, 00:52:18.719 --> 00:52:23.980 what criteria must it meet? And this is something 00:52:23.980 --> 00:52:28.000 I'm going to ask in my next stream. But whether 00:52:28.000 --> 00:52:32.659 it's blockchain, utility projects, whatever it 00:52:32.659 --> 00:52:37.929 may be, a DAO, what... are you looking at as 00:52:37.929 --> 00:52:41.349 far as like infrastructure as far as the developing 00:52:41.349 --> 00:52:44.429 team how the implementation and maintenance takes 00:52:44.429 --> 00:52:52.170 place governance or is there like one across 00:52:52.170 --> 00:52:57.429 the board you know piece of i don't know i think 00:52:57.429 --> 00:53:01.150 governance if i had to pick one yeah it's layered 00:53:01.150 --> 00:53:06.090 isn't it yeah certainly because because Governance 00:53:06.090 --> 00:53:08.409 has got to be the most important thing. But I 00:53:08.409 --> 00:53:12.130 mean, so for me, the best projects and the best 00:53:12.130 --> 00:53:14.369 way to build in Web3 is not to start decentralized 00:53:14.369 --> 00:53:17.130 because you need a core team of people that know 00:53:17.130 --> 00:53:18.570 what they're doing to build the right thing. 00:53:18.730 --> 00:53:24.070 But with a system in place that doesn't require 00:53:24.070 --> 00:53:29.469 trust, requires proof. um and reliance on code 00:53:29.469 --> 00:53:31.789 that means that it will become decentralized 00:53:31.789 --> 00:53:34.829 um as it grows forward and that's what you need 00:53:34.829 --> 00:53:38.130 and you need a company like crypto slate to be 00:53:38.130 --> 00:53:39.929 honest with you you need a company like crypto 00:53:39.929 --> 00:53:43.190 slate that has the end goal to becoming decentralized 00:53:43.190 --> 00:53:47.309 people that believe in the end project they're 00:53:47.309 --> 00:53:50.710 willing to fund the means to get to the end project 00:53:50.710 --> 00:53:54.369 even if on that way they're not going to get 00:53:54.369 --> 00:53:57.880 incredibly wealthy Yeah, because I mean, at the 00:53:57.880 --> 00:54:00.800 end of the day, if you start completely decentralized, 00:54:01.159 --> 00:54:05.099 then you end up like having, say, a foundation 00:54:05.099 --> 00:54:07.699 that still has more control than it probably 00:54:07.699 --> 00:54:11.099 should do if it's properly decentralized. And 00:54:11.099 --> 00:54:13.000 we might not believe in the people buying into 00:54:13.000 --> 00:54:14.760 it. They've got different views on where it should 00:54:14.760 --> 00:54:16.840 go. They might change their view on where it 00:54:16.840 --> 00:54:19.179 needs to go. And you end up with a lot of infighting 00:54:19.179 --> 00:54:21.980 throughout it. So for me. If I'm looking for 00:54:21.980 --> 00:54:23.519 something that's decentralized, I want something 00:54:23.519 --> 00:54:26.380 that started in a centralized manner with a clear 00:54:26.380 --> 00:54:28.900 roadmap to how it's going to grow. And I wouldn't 00:54:28.900 --> 00:54:30.519 be invested in that project until it's getting 00:54:30.519 --> 00:54:32.980 to that stage either. Because that's the stage 00:54:32.980 --> 00:54:35.239 where then you actually are asking, okay, we 00:54:35.239 --> 00:54:37.599 think we've built what we thought was good. Now 00:54:37.599 --> 00:54:39.760 let's send it out, make it decentralized, allow 00:54:39.760 --> 00:54:41.840 the community to build and grow it from there. 00:54:43.519 --> 00:54:45.039 and from a governance point of view i think that's 00:54:45.039 --> 00:54:47.440 really important the other part when you talk 00:54:47.440 --> 00:54:49.199 about infrastructure is something like we're 00:54:49.199 --> 00:54:52.039 already not seeing with ethereum like over some 00:54:52.039 --> 00:54:55.239 it's like 70 percent of dapps are built on aws 00:54:55.239 --> 00:54:57.920 rather than sort of bare metal cloud infrastructure 00:54:57.920 --> 00:55:01.239 which can be done um i was consulting for a company 00:55:01.239 --> 00:55:06.119 called um gateway .fm and they're building out, 00:55:06.219 --> 00:55:09.739 they're an RPC provider, which is the connection 00:55:09.739 --> 00:55:12.860 onto the blockchain for applications. And they're 00:55:12.860 --> 00:55:15.760 building in a bare metal environment, meaning 00:55:15.760 --> 00:55:19.579 that their servers can be moved to any hosting 00:55:19.579 --> 00:55:21.599 environment or they are completely decentralized. 00:55:21.900 --> 00:55:24.840 There's another one in the UK called Kudos. They're 00:55:24.840 --> 00:55:26.679 building out decentralized cloud infrastructure. 00:55:27.019 --> 00:55:29.559 That's the sort of stuff that I'm the most excited 00:55:29.559 --> 00:55:31.820 about when it comes to decentralization because 00:55:31.820 --> 00:55:34.119 at the moment, There's Google, there's Azure 00:55:34.119 --> 00:55:37.420 with Microsoft, and there's Amazon. And they 00:55:37.420 --> 00:55:40.320 pretty much take up the entirety of the Western 00:55:40.320 --> 00:55:44.219 internet. So there's very few projects that I 00:55:44.219 --> 00:55:45.800 would actually view as actually being properly 00:55:45.800 --> 00:55:48.599 decentralized due to the fact that either between 00:55:48.599 --> 00:55:52.340 them and Cloudflare as a DNS solution, there's 00:55:52.340 --> 00:55:56.619 bottlenecks everywhere. Yeah, it's a massive 00:55:56.619 --> 00:55:59.840 infrastructure problem at this point in time. 00:56:00.039 --> 00:56:04.400 I would agree, certainly. it's why we need people 00:56:04.400 --> 00:56:07.179 that are like dedicated to the project that don't 00:56:07.179 --> 00:56:11.440 need to be making you know 150 an hour to work 00:56:11.440 --> 00:56:18.739 that it's those people sadly the world's built 00:56:18.739 --> 00:56:22.059 on people on the backs of people that no one 00:56:22.059 --> 00:56:26.800 remembers and and those are the people that we 00:56:26.800 --> 00:56:30.269 need right now more than anything We need the 00:56:30.269 --> 00:56:32.289 people that are willing to put the time in to 00:56:32.289 --> 00:56:35.329 do the infrastructure to, you know, like run 00:56:35.329 --> 00:56:39.230 the wires as it were. Well, I think I think we're 00:56:39.230 --> 00:56:42.489 seeing some pull in in the in the background. 00:56:44.369 --> 00:56:48.869 One thing I did want to run by you guys is the 00:56:48.869 --> 00:56:53.230 counter argument to the centralization or proof 00:56:53.230 --> 00:56:56.550 of stake validators in the cloud is, well, if 00:56:56.550 --> 00:56:59.920 you were to look at. The majority of the hash 00:56:59.920 --> 00:57:04.179 power and any proof of work blockchain, it comes 00:57:04.179 --> 00:57:09.320 from a single digit number of mining pools. Usually 00:57:09.320 --> 00:57:12.619 like three, four or five mining pools provide 00:57:12.619 --> 00:57:15.079 the majority of the hash rate. It's still centralized 00:57:15.079 --> 00:57:18.860 in that manner. So is there credence to that 00:57:18.860 --> 00:57:22.519 argument or not from your perspective? With inside 00:57:22.519 --> 00:57:24.519 those pools, you've got all the individual miners 00:57:24.519 --> 00:57:27.599 and companies within those pools. So they can 00:57:27.599 --> 00:57:29.559 still choose to move to a different pool tomorrow 00:57:29.559 --> 00:57:32.639 if they want to. So there is that that needs 00:57:32.639 --> 00:57:34.500 to be considered. It certainly depends on the 00:57:34.500 --> 00:57:37.059 projects. Distributed when it comes to the geographic 00:57:37.059 --> 00:57:41.239 area. Yeah, and some projects are only mined 00:57:41.239 --> 00:57:44.199 on one pool. Like when you're doing spec mining, 00:57:44.360 --> 00:57:46.579 for instance, there's something like currently 00:57:46.579 --> 00:57:49.519 what I'm spec mining, a project called Nexa. 00:57:51.099 --> 00:57:54.579 And it's only able to be mined on one pool. And 00:57:54.579 --> 00:57:58.940 it's some random obscure Russian pool. I know 00:57:58.940 --> 00:58:01.579 people that are really close friends with him. 00:58:02.739 --> 00:58:05.239 They're devs. He doesn't speak English, apparently. 00:58:07.579 --> 00:58:09.860 They're really good friends with him. And they 00:58:09.860 --> 00:58:15.820 vouch for him. I know him like intimately, like 00:58:15.820 --> 00:58:17.639 he's a really good friend of mine. So like I 00:58:17.639 --> 00:58:20.059 can trust him and he trusts this guy with his 00:58:20.059 --> 00:58:25.019 life. So that's like why I can trust one pool 00:58:25.019 --> 00:58:29.000 right now with 100 % hash rate on Nexa. But there's 00:58:29.000 --> 00:58:30.659 also like three pools that have been working 00:58:30.659 --> 00:58:34.519 on figuring the code out, but they're just, no 00:58:34.519 --> 00:58:37.320 one's willing to just give it to them. So we 00:58:37.320 --> 00:58:40.820 do have a question from the audience. UK Miners 00:58:40.820 --> 00:58:43.739 Club writes, panel question, what's your thoughts 00:58:43.739 --> 00:58:47.840 on hosting on Flux? Public wouldn't know it was 00:58:47.840 --> 00:58:50.119 decentralized. Does it even matter to general 00:58:50.119 --> 00:58:53.639 public? So I assume you're referring to something 00:58:53.639 --> 00:58:57.500 like hosting your website or your workload on 00:58:57.500 --> 00:59:02.619 a Flux node, which is decentralized cloud token 00:59:02.619 --> 00:59:06.579 incentivized public infrastructure network. It's 00:59:06.579 --> 00:59:12.480 not about whether the public cares or not. It 00:59:12.480 --> 00:59:15.900 matters whether the solidarity of the project's 00:59:15.900 --> 00:59:19.079 there. The public's opinion doesn't matter in 00:59:19.079 --> 00:59:22.360 crypto. And I think every bull run has proven 00:59:22.360 --> 00:59:25.800 that. I think every bear market has made the 00:59:25.800 --> 00:59:30.280 people that are all FOMO just cry a bunch. You 00:59:30.280 --> 00:59:32.219 know what I mean? But there's more people behind 00:59:32.219 --> 00:59:35.309 it. But the thing is, it will make a difference 00:59:35.309 --> 00:59:37.110 to the public when your website doesn't go down 00:59:37.110 --> 00:59:42.429 when AWS servers in the east of the US go down 00:59:42.429 --> 00:59:45.670 and Facebook, WhatsApp, Netflix are all down, 00:59:45.730 --> 00:59:47.730 but your website's still up. Every time I've 00:59:47.730 --> 00:59:49.869 ever hosted a website, I've hosted it myself. 00:59:50.070 --> 00:59:52.889 So if my internet was down, it was down. Let 00:59:52.889 --> 00:59:56.210 me add on to that. UK miners, with the competitive 00:59:56.210 --> 00:59:59.849 rates that they have for hosting, there's also 00:59:59.849 --> 01:00:02.769 a business solution to be found there. Hey, if 01:00:02.769 --> 01:00:06.289 the public doesn't care, well, I'm sure your 01:00:06.289 --> 01:00:12.789 pocketbook might care more than them. But I mean, 01:00:12.849 --> 01:00:15.250 that's look, you're going to find that the majority 01:00:15.250 --> 01:00:18.710 of the people in this space, like even many of 01:00:18.710 --> 01:00:20.590 the ones that watch my channels, they don't give 01:00:20.590 --> 01:00:24.050 a rat's ass about the principle of the manner 01:00:24.050 --> 01:00:27.889 that we were discussing right now, whether it 01:00:27.889 --> 01:00:31.230 be the issues around big tech censorship and 01:00:31.230 --> 01:00:33.280 collusion. They just want to know how to make 01:00:33.280 --> 01:00:37.980 money. Correct. I mean, the biggest thing with 01:00:37.980 --> 01:00:41.420 all of this is the fact that the people with 01:00:41.420 --> 01:00:44.159 the money are the people that are in legacy industry. 01:00:44.360 --> 01:00:49.260 And they can push their agenda through advertising 01:00:49.260 --> 01:00:51.800 and through media relationships with legacy media 01:00:51.800 --> 01:00:54.199 to push the agenda. Through pushing government 01:00:54.199 --> 01:00:58.849 stipulations. The way they make the general public 01:00:58.849 --> 01:01:01.650 care about a decentralized hosted website is 01:01:01.650 --> 01:01:04.989 by informing them of what that means. And that's 01:01:04.989 --> 01:01:08.070 why, say, I'm writing for someone like CryptoSlate. 01:01:08.150 --> 01:01:09.809 Our goal is to keep our head down during the 01:01:09.809 --> 01:01:12.320 bear market and hope that... through the next 01:01:12.320 --> 01:01:14.739 bull run that that pays dividends because we 01:01:14.739 --> 01:01:16.980 want to help educate people into what blockchain 01:01:16.980 --> 01:01:20.119 is actually about um it's not just about pump 01:01:20.119 --> 01:01:22.340 and dumps and trying to make a quick buck and 01:01:22.340 --> 01:01:24.099 invest in because not everyone in the world even 01:01:24.099 --> 01:01:26.219 has spare money to invest it's about building 01:01:26.219 --> 01:01:27.980 a better infrastructure a fairer infrastructure 01:01:27.980 --> 01:01:31.599 and it's being railroaded by a lot of the legacy 01:01:31.599 --> 01:01:33.179 industries that are trying to make sure they 01:01:33.179 --> 01:01:35.380 keep control of it one of the ways they're doing 01:01:35.380 --> 01:01:37.559 that is by making sure that there's articles 01:01:37.559 --> 01:01:40.579 written talking about how dumb crypto is um you 01:01:40.579 --> 01:01:44.809 look like everybody's saying it's a Ponzi scheme 01:01:44.809 --> 01:01:48.550 everybody on every it's like oh yeah it's totally 01:01:48.550 --> 01:01:51.250 a Ponzi scheme there's no backing to it whatsoever 01:01:51.250 --> 01:01:55.150 there's nothing backing it at all there's no 01:01:55.150 --> 01:01:57.489 people working on it there's no devs sitting 01:01:57.489 --> 01:02:00.590 there fucking slaving away making shit work yeah 01:02:00.590 --> 01:02:02.949 yeah it's just a Ponzi scheme it's like you better 01:02:02.949 --> 01:02:05.090 get in early yeah that's it that's the key to 01:02:05.090 --> 01:02:08.050 crypto getting in early everyone that bought 01:02:08.050 --> 01:02:12.309 pink chain They might not tell you about the 01:02:12.309 --> 01:02:22.130 U .S. dollar. I bet per dollar amount or however 01:02:22.130 --> 01:02:28.329 you'd like to quantify it. And adversely to Bitcoin, 01:02:28.630 --> 01:02:31.190 you know, however you want to quantify the value 01:02:31.190 --> 01:02:33.650 per that value, you're probably spending more 01:02:33.650 --> 01:02:38.409 energy in total and more resources on that dollar 01:02:38.409 --> 01:02:41.219 than you would Bitcoin. Oh, yeah, for sure. How 01:02:41.219 --> 01:02:43.539 much military power do you need to go into it? 01:02:43.639 --> 01:02:46.780 All the infrastructure for the bank, for the 01:02:46.780 --> 01:02:49.619 Federal Reserve, all the people we pay to keep 01:02:49.619 --> 01:02:52.519 this system going. And you can go on and on and 01:02:52.519 --> 01:02:55.920 on and on per system that is being looted and 01:02:55.920 --> 01:02:59.099 is about to collapse. But the thing is, it's 01:02:59.099 --> 01:03:02.840 all obfuscated. So with Bitcoin, you see kilowatt 01:03:02.840 --> 01:03:05.280 go in, Bitcoin come out. You can put the two 01:03:05.280 --> 01:03:07.860 prices together and you can make it seem like 01:03:07.860 --> 01:03:10.300 crypto is a waste of energy. It's bad for the 01:03:10.300 --> 01:03:12.519 environment and it costs too much money. Or you 01:03:12.519 --> 01:03:14.800 can see it as one of the most efficient forms 01:03:14.800 --> 01:03:17.860 of generating money because it's only energy 01:03:17.860 --> 01:03:20.179 that goes in and it's Bitcoin that comes out. 01:03:20.280 --> 01:03:22.739 You say you can run a Bitcoin farm with two or 01:03:22.739 --> 01:03:24.739 three people. Once you've got everything up and 01:03:24.739 --> 01:03:26.539 running, it doesn't require all those people 01:03:26.539 --> 01:03:27.880 you're just talking about that it requires to 01:03:27.880 --> 01:03:30.219 run the dollar. And the thing that people miss 01:03:30.219 --> 01:03:34.119 with all this is over the last 120 years, the 01:03:34.119 --> 01:03:37.719 dollar's down 99 % in terms of what you can buy 01:03:37.719 --> 01:03:41.539 with a dollar. The dollar is a shit coin. My 01:03:41.539 --> 01:03:44.900 grandmother bought her house, which was a five 01:03:44.900 --> 01:03:48.380 -bedroom house with a basement, backyard, porch, 01:03:48.539 --> 01:03:51.940 front back porch, and two acres in the middle 01:03:51.940 --> 01:03:56.739 of a city. she paid 2500 for it before she moved 01:03:56.739 --> 01:03:59.980 out of that house and moved in with my aunt uh 01:03:59.980 --> 01:04:02.599 she sold that house for like a half million dollars 01:04:02.599 --> 01:04:07.179 and that was like 20 years ago you know what 01:04:07.179 --> 01:04:11.099 i mean so it's like it's like the the inflation 01:04:11.099 --> 01:04:14.719 price is just a devaluation price as far as i'm 01:04:14.719 --> 01:04:22.469 concerned but 99 but the only reason that here 01:04:22.469 --> 01:04:25.630 in the united states we're not we're not completely 01:04:25.630 --> 01:04:28.630 you know the citizens themselves are not completely 01:04:28.630 --> 01:04:31.070 suffering because this is because everywhere 01:04:31.070 --> 01:04:35.809 else is down 99 .97 so we're slightly better 01:04:35.809 --> 01:04:38.289 but we're still going off the cliff right after 01:04:38.289 --> 01:04:41.570 them and and people people just think about it 01:04:41.570 --> 01:04:43.869 as things are getting more expensive as opposed 01:04:43.869 --> 01:04:46.460 to the fact that their money is worth less And 01:04:46.460 --> 01:04:48.840 that's the difference that they've got control 01:04:48.840 --> 01:04:51.400 of the narrative. So we need to carry on. Oh, 01:04:51.480 --> 01:04:54.320 I just I just got a dollar fifty raise after 01:04:54.320 --> 01:04:56.880 working here for five years. Oh, yeah. Yeah. 01:04:56.960 --> 01:05:00.039 But bread's four dollars a loaf. Milk's eight 01:05:00.039 --> 01:05:02.219 dollars a bag. Yeah, that's right, bitches. I 01:05:02.219 --> 01:05:06.059 said bag. So someone in chat has just said that 01:05:06.059 --> 01:05:09.199 most crypto projects are Ponzi's and very few 01:05:09.199 --> 01:05:11.679 are worth anything. That's, again, just going 01:05:11.679 --> 01:05:13.940 back to the fact of how early we are in this 01:05:13.940 --> 01:05:18.059 sort of evolution of crypto, that we need there 01:05:18.059 --> 01:05:20.500 to be 10 ,000 projects because we need to figure 01:05:20.500 --> 01:05:22.900 out what's working. We need to get what we call 01:05:22.900 --> 01:05:26.159 a product market fit for blockchain. Do we need 01:05:26.159 --> 01:05:29.239 10 ,000 blockchains in the future? No, I don't 01:05:29.239 --> 01:05:31.119 think so, unless they're layer twos or layer 01:05:31.119 --> 01:05:33.380 threes built on other things. Do we need them 01:05:33.380 --> 01:05:34.659 right now? Yeah, probably, because we need to 01:05:34.659 --> 01:05:35.900 figure out what's right, what's going to work. 01:05:36.380 --> 01:05:39.619 There is the aspect that there is a bunch of 01:05:39.619 --> 01:05:41.780 blockchains right now and people are trying to 01:05:41.780 --> 01:05:43.699 figure out codes and algorithms for different 01:05:43.699 --> 01:05:46.300 solutions. They're trying to find solutions for 01:05:46.300 --> 01:05:49.119 problems that haven't existed yet and haven't 01:05:49.119 --> 01:05:54.280 been found a meshing point. But the situation 01:05:54.280 --> 01:05:56.840 of whether it's a Ponzi is when you get someone 01:05:56.840 --> 01:05:59.699 that's like pumping it, like say the Jake Paul 01:05:59.699 --> 01:06:04.059 Zoo tokens off. you know like come the hell on 01:06:04.059 --> 01:06:06.760 like anyone that i know that's worth anything 01:06:06.760 --> 01:06:09.960 that knows anything about crypto is invested 01:06:09.960 --> 01:06:13.199 in it has any hardware mining it nobody bought 01:06:13.199 --> 01:06:18.000 that no one no one the only people that bought 01:06:18.000 --> 01:06:20.380 that were like fanboys and people that know nothing 01:06:20.380 --> 01:06:23.539 about the crypto industry so it's the exact same 01:06:23.539 --> 01:06:26.780 it's those people that are saying that most of 01:06:26.780 --> 01:06:29.159 these projects are ponzi's but that's not the 01:06:29.159 --> 01:06:32.449 case like out of out of like say there's a hundred 01:06:32.449 --> 01:06:34.750 thousand projects right now because there's probably 01:06:34.750 --> 01:06:39.670 close to 60 000 in the works right now out of 01:06:39.670 --> 01:06:49.269 them there's let's say 200 bad actors i would 01:06:49.269 --> 01:06:51.969 say like that are active right now i'd say there's 01:06:51.969 --> 01:06:56.090 about 200 bad actors i think you're being very 01:06:56.090 --> 01:07:00.329 generous in terms of I'm not saying that they 01:07:00.329 --> 01:07:02.650 couldn't easily mesh the project with another 01:07:02.650 --> 01:07:05.230 current existing project. I'm not saying that. 01:07:05.329 --> 01:07:07.989 I'm saying with the intentions of taking people's 01:07:07.989 --> 01:07:11.090 money and going, fuck everybody. I don't think 01:07:11.090 --> 01:07:13.389 it's as high as everybody thinks it is. Well, 01:07:13.409 --> 01:07:15.030 maybe it doesn't have to be. I don't think that's 01:07:15.030 --> 01:07:17.750 where the intention is. And the real difference 01:07:17.750 --> 01:07:20.590 is there's scams outside of Web3 everywhere. 01:07:21.309 --> 01:07:23.829 There's billions of dollars that people have 01:07:23.829 --> 01:07:27.190 been scammed out of. Or solar panels and new 01:07:27.190 --> 01:07:30.670 furnaces. Exactly. But with crypto, it's more 01:07:30.670 --> 01:07:33.590 transparent. It's on chain. You can see the project. 01:07:33.829 --> 01:07:36.389 Someone can write about it easily. It's not some 01:07:36.389 --> 01:07:38.630 anonymous project calling people's grandparents, 01:07:38.909 --> 01:07:41.489 trying to get them to send them gift cards that 01:07:41.489 --> 01:07:45.280 doesn't have a face. Blockchain is sort of a 01:07:45.280 --> 01:07:48.039 victim of its own benefits and features in that 01:07:48.039 --> 01:07:50.840 how transparent it is. So you can see all of 01:07:50.840 --> 01:07:54.860 these scams there and then. And I think for people 01:07:54.860 --> 01:07:56.719 that are buying into small projects and calling 01:07:56.719 --> 01:07:59.360 it a scam just because it doesn't work out, because 01:07:59.360 --> 01:08:01.739 that's also a thing. These are all startups if 01:08:01.739 --> 01:08:03.760 you're buying into a low market cap project. 01:08:04.139 --> 01:08:08.980 Do you use, what's it called, Kickstarter? Or 01:08:08.980 --> 01:08:12.269 would you... invest in your mate's new projects 01:08:12.269 --> 01:08:14.309 that he told you about in a pub and he needs 01:08:14.309 --> 01:08:17.010 100 quid and he's trying to crowdsource funding 01:08:17.010 --> 01:08:19.789 for his new i don't know gym or something would 01:08:19.789 --> 01:08:22.100 you invest in those the answer is no then you 01:08:22.100 --> 01:08:24.199 probably shouldn't be investing in meme coins 01:08:24.199 --> 01:08:26.399 either because you are investing in a project 01:08:26.399 --> 01:08:29.579 by buying the tokens and people just see it as 01:08:29.579 --> 01:08:31.859 oh just because other crypto projects went to 01:08:31.859 --> 01:08:34.239 the moon then this one must do too because i 01:08:34.239 --> 01:08:36.180 put my money in it you just need to understand 01:08:36.180 --> 01:08:37.819 what you're actually doing when you're investing 01:08:37.819 --> 01:08:40.560 in crypto because you it's investment um at the 01:08:40.560 --> 01:08:43.319 end of the day i think too many people just think 01:08:43.319 --> 01:08:45.720 it's free money i have a buddy who i was telling 01:08:45.720 --> 01:08:50.020 to get into crypto back in like 2010 2011 like 01:08:50.020 --> 01:08:52.359 just a buyout like buy some you know what i mean 01:08:52.359 --> 01:08:54.279 like get a bunch of liquid cash and it's just 01:08:54.279 --> 01:08:56.880 like just buy it hold it if you're just keeping 01:08:56.880 --> 01:08:59.520 money and you're safe just buy it and hold it 01:08:59.520 --> 01:09:02.500 oh it's just a scam it's just a scam he ended 01:09:02.500 --> 01:09:06.779 up buying in when it was like 71 000 canadian 01:09:06.779 --> 01:09:11.340 a bitcoin like the absolute crest of the peak 01:09:11.880 --> 01:09:15.180 and goes in and buys like 40 grand worth and 01:09:15.180 --> 01:09:18.159 then comes over to me and goes like six months 01:09:18.159 --> 01:09:20.579 later comes over to me and goes oh i'm down like 01:09:20.579 --> 01:09:23.100 all this money you told me to put this it's like 01:09:23.100 --> 01:09:24.840 nah man i told you to put it in when it was going 01:09:24.840 --> 01:09:27.560 up because i knew what the projects were you 01:09:27.560 --> 01:09:30.859 went in because of fomo thinking oh yeah all 01:09:30.859 --> 01:09:32.579 these people are saying it's gonna hit a hundred 01:09:32.579 --> 01:09:35.119 thousand dollars for a bitcoin it's like no that 01:09:35.119 --> 01:09:39.800 ain't happening Come on. Follow the markets. 01:09:40.100 --> 01:09:43.460 It's the same patterns. The difference is, here's 01:09:43.460 --> 01:09:49.680 a hot take again, I guess. I think that the bull 01:09:49.680 --> 01:09:53.079 run this time is going to happen a lot sooner 01:09:53.079 --> 01:09:56.800 than everyone's thinking. I think it's not going 01:09:56.800 --> 01:10:00.899 to be 2024 or 20... I think it's going to be 01:10:00.899 --> 01:10:06.479 2026. I don't think so. I'm saying wait till 01:10:06.479 --> 01:10:09.640 like June or July and be surprised. All right. 01:10:09.640 --> 01:10:12.220 We have conflicting opinions. So I want you both 01:10:12.220 --> 01:10:15.500 to break this down and then we'll bring an end 01:10:15.500 --> 01:10:19.439 to this podcast. Oh, we got to go first. Whoever 01:10:19.439 --> 01:10:24.960 wants to go first. After you, Akiva. So. I mean, 01:10:24.979 --> 01:10:26.539 you've got to look at the macro picture of everything 01:10:26.539 --> 01:10:28.340 and it really depends on what happens this year. 01:10:28.439 --> 01:10:30.060 If there ends up being like a war between China 01:10:30.060 --> 01:10:31.739 and the US, I actually think that could be massively 01:10:31.739 --> 01:10:34.579 bullish for Bitcoin. You saw it happen during 01:10:34.579 --> 01:10:36.819 the start of the Ukraine war. You saw gold follow, 01:10:37.000 --> 01:10:40.840 then come down and Bitcoin led. And it also depends 01:10:40.840 --> 01:10:42.960 on what you're defining as a bull market. Do 01:10:42.960 --> 01:10:45.300 I think we'll have the bottom of the market in 01:10:45.300 --> 01:10:48.319 2023? Yes. So you could then argue that the bull 01:10:48.319 --> 01:10:51.279 run starts in 2023 because if the bull run is 01:10:51.279 --> 01:10:53.079 everything after the bottom of the market, then 01:10:53.079 --> 01:10:56.380 I completely agree with you. I'm saying 70 % 01:10:56.380 --> 01:10:59.319 from where we're at right now, at least. I think 01:10:59.319 --> 01:11:01.479 we'll hit the bottom. I think we'll hit the bottom. 01:11:01.619 --> 01:11:03.819 I think we'll hit it soon. I think we're going 01:11:03.819 --> 01:11:06.300 to hit like 8 ,000 to 9 ,000 Bitcoin is what 01:11:06.300 --> 01:11:09.380 I think personally after all this FUD and crap 01:11:09.380 --> 01:11:14.369 with FTX. the the grayscale uh crap that's going 01:11:14.369 --> 01:11:16.710 on right now like that's huge like if they have 01:11:16.710 --> 01:11:21.149 to liquidate all the the gbtc like that's that's 01:11:21.149 --> 01:11:23.729 insane like that's insane like you're gonna be 01:11:23.729 --> 01:11:26.810 able to pick up bitcoin for like fractions what 01:11:26.810 --> 01:11:32.510 it's so at 6 p .m gmt so whatever time it is 01:11:32.510 --> 01:11:35.649 where you are now pretty much it's quarter past 01:11:35.649 --> 01:11:39.289 six here now um our head researcher is doing 01:11:39.289 --> 01:11:42.970 the weekly market report which is how the gbtc 01:11:42.970 --> 01:11:46.569 premium the grayscale trade ruined barry silber 01:11:46.569 --> 01:11:49.210 and his dcg empire and took crypto lending platforms 01:11:49.210 --> 01:11:52.090 with them it's an incredible i edited it this 01:11:52.090 --> 01:11:55.960 morning it's an incredible article and that I 01:11:55.960 --> 01:11:57.399 think is one of the most important things that 01:11:57.399 --> 01:11:59.479 you can read this weekend when it comes out tomorrow, 01:11:59.619 --> 01:12:01.960 because it really highlights for me, which is 01:12:01.960 --> 01:12:04.199 the biggest potential catalyst for a further 01:12:04.199 --> 01:12:05.819 leg down at the moment. And that is the whole 01:12:05.819 --> 01:12:10.619 DCG thing, because if they can't get themselves 01:12:10.619 --> 01:12:12.859 out of where they're at, then it's going to be. 01:12:13.750 --> 01:12:16.189 massive for bitcoin um and i think that could 01:12:16.189 --> 01:12:19.170 flush out the rest of the weekends and that is 01:12:19.170 --> 01:12:20.989 where i agree i don't know where the bottom is 01:12:20.989 --> 01:12:23.510 going to be um but i could see that that leg 01:12:23.510 --> 01:12:25.590 down being the end of it and then from there 01:12:25.590 --> 01:12:28.229 i'm just looking at historic cycles so nothing 01:12:28.229 --> 01:12:29.789 necessarily is going to be the case but when 01:12:29.789 --> 01:12:31.850 you look at the you need to look at things like 01:12:31.850 --> 01:12:35.239 what i tend to analyze is the the bottom of the 01:12:35.239 --> 01:12:37.979 market to the price of the next halving the price 01:12:37.979 --> 01:12:40.640 of the halving until the top of the market and 01:12:40.640 --> 01:12:42.140 then from there until the bottom of the market 01:12:42.140 --> 01:12:44.699 and looking at the where the halvings were in 01:12:44.699 --> 01:12:49.260 each time and that they're expanding um fairly 01:12:49.260 --> 01:12:52.380 uh systematically throughout and on that basis 01:12:52.380 --> 01:12:55.340 if it continues in a similar trend then it wasn't 01:12:55.340 --> 01:12:58.560 the utilization of cryptocurrency or the market 01:12:58.560 --> 01:13:02.880 or the space at the last bull runs. That's what 01:13:02.880 --> 01:13:06.840 you're not accounting for. And now there's a 01:13:06.840 --> 01:13:09.260 utilization for it. There's a platform for the 01:13:09.260 --> 01:13:11.699 everyday person. They're making cryptocurrency 01:13:11.699 --> 01:13:18.239 ASIC submersion tanks for the home. OctoMiner 01:13:18.239 --> 01:13:20.460 makes a submersion tank that they just released 01:13:20.460 --> 01:13:23.539 on Christmas or something, slightly before Christmas. 01:13:23.739 --> 01:13:28.010 And you can put an ASIC in it. It kills all the 01:13:28.010 --> 01:13:30.869 noise and then it sublimates the heat through 01:13:30.869 --> 01:13:34.489 liquid cooling into the room. But they're also 01:13:34.489 --> 01:13:37.270 environmental controlled and so forth. You have 01:13:37.270 --> 01:13:40.390 more everyday people picking up and not just 01:13:40.390 --> 01:13:43.489 home miners. Can you quickly elaborate on why 01:13:43.489 --> 01:13:49.430 you think the bull cycle will come in 2026? Me? 01:13:50.010 --> 01:13:54.310 He thinks 2023. I think it's going to not... 01:13:55.000 --> 01:13:57.460 to the peak this year but like i think that it's 01:13:57.460 --> 01:14:02.560 going to go in in a way that people haven't haven't 01:14:02.560 --> 01:14:04.859 expected it i think because of the crypto utilization 01:14:04.859 --> 01:14:09.640 i think that there's a stableness behind certain 01:14:09.640 --> 01:14:12.939 platforms like everyone always like causes all 01:14:12.939 --> 01:14:16.359 this crap with cc and shit but like i don't have 01:14:16.359 --> 01:14:18.020 a problem with him i don't have a problem with 01:14:18.020 --> 01:14:19.699 the way he runs the platform i don't have a problem 01:14:19.699 --> 01:14:21.300 with all those reserves i don't have a problem 01:14:21.300 --> 01:14:23.979 with any of it And it's solid. I don't have a 01:14:23.979 --> 01:14:25.739 problem with Coinbase with the exception of like 01:14:25.739 --> 01:14:27.399 they kick me off their platform without telling 01:14:27.399 --> 01:14:31.199 me why. That kind of pissed me off. But aside 01:14:31.199 --> 01:14:33.340 from that, like, I don't think they're just going 01:14:33.340 --> 01:14:37.260 to go poof. You know what I mean? Yeah, I get 01:14:37.260 --> 01:14:40.840 what you're saying. There's people that are now 01:14:40.840 --> 01:14:45.939 getting interested in the space in the bear market. 01:14:46.840 --> 01:14:49.770 Whereas like before. people don't start getting 01:14:49.770 --> 01:14:53.050 interested in the space until the full run. Yeah, 01:14:53.149 --> 01:14:55.890 but if you look at Google Trends and stuff and 01:14:55.890 --> 01:14:58.270 overall traffic in the space, it is still massively 01:14:58.270 --> 01:15:02.590 down at the moment. And my thesis for why we're 01:15:02.590 --> 01:15:05.850 going to be 2025 maybe is whenever you look at 01:15:05.850 --> 01:15:08.130 any of the halvings, the halving event itself 01:15:08.130 --> 01:15:11.529 isn't usually a catalyst. I'll bet you 10 ,000 01:15:11.529 --> 01:15:15.170 Jasmine. Let's go. I don't know how much that 01:15:15.170 --> 01:15:17.729 is. Doesn't matter. 10 ,000 Jasmine. Let's go. 01:15:20.070 --> 01:15:22.470 I mean, I might be betting you like several million 01:15:22.470 --> 01:15:25.550 quid. Yeah, fuck, maybe. By the time you got 01:15:25.550 --> 01:15:29.090 to pay up 10 ,000 jasmine, let's go. This means 01:15:29.090 --> 01:15:31.310 you got to go buy 10 ,000 jasmine right now for 01:15:31.310 --> 01:15:35.729 dirt and hodl it till then. Well, yeah, okay. 01:15:36.529 --> 01:15:42.850 Joe, you can get in on this too, man. 10 ,000 01:15:42.850 --> 01:15:45.829 jasmine, Ben. Come on, when's your bull run? 01:15:46.300 --> 01:15:47.960 When's their bet for the bull run? Come on, 10 01:15:47.960 --> 01:15:51.279 ,000 Jasmine. Look it up. Look at the price and 01:15:51.279 --> 01:15:53.460 just come on. You can cough it up. It's like 01:15:53.460 --> 01:15:57.319 literally you spend more on Diet Pepsi a week. 01:15:57.399 --> 01:15:59.819 Come on. Yeah, you're probably right. Yeah, me 01:15:59.819 --> 01:16:00.100 too.