Surprise AMA 09/17/2022

hi this is Charles hoskinson broadcasting live from warm sunny Colorado always warm Always Sunny sometimes Colorado so I just realized I haven't done an AMA in a really long time and it's September 17th good good month and so I figured I'd do one with me and Logan together he's kind of falling off the mic because he I need an extra rubber band for him so we'll get one tomorrow and actually I'm trying a new product we've been so tired from all the work and all the stuff we've done I fought this crazy nasal and it's it's basically just pure capsizing so you just spray it your nose and it's pretty horrible actually it's like snorting Wasabi but it clears up your sinuses how about that it also wakes you up as I did my prior video I was going to go home get some sleep but then I said I spent it with you guys come on which I love you yeah that we're doing a lot of cool [ __ ] there we go and we're getting it done a little by little but we haven't done a AMA in a long time so it's about time to do one and I'll let you guys go ahead and throw some questions in the vaccines turned out not so good yeah they're a mixed bag when they first came out they were particularly effective against the wild type and then they don't work anymore and you have to make new ones and the question is why make them when people get the disease already and most people do fine because they make lots of money for the pharmaceutical industry how about that hmm Charles can you do the voiceover for Google Maps please yeah well they couldn't pay me enough for that sorry no sleep is better than not waking up that's true do you use beard oil a lot of people told me to do it I also bought one of those kits that you're supposed to use to like iron your beard and do that so no but I I should I should do that'd be a lot of fun Charles I have experience teaching Japanese at efo and providing lessons about cardano would be very helpful I'm not sure the correlation between the two but you mean you can teach about cardano in Japanese gotta You Gotta Give me a little bit much you're a sociopath by all accounts says dan Wang with the breast picture well thank you Mr Wang for your opinion I don't know if it's a dang Wang but it is an opinion do you have a license for your Black Hawk you're all farrier I have the Blackhawk but it's still under an AG tag can't do anything with it waiting on the FAA would you ever get Lasik no I'm holding out for the whole new eyes thing the cybernetic eyes Deus Ex style be a lot of fun Charles I voted for many projects on Catalyst very cool there you go here we go no reread it hello I teach in Japan well that's a little bit better wondering if there are any plans to have courses in Japan you'll have to talk to a mergo that's kind of their area I'm really happy you unblocked eltano on Twitter he means well in his Nokia 3000 is just stuck on cap locks well okay there we go you claim to jump out of Choppers in Afghanistan you're not all there bro says who random people you've never met okay don't believe everything you read when yelly yelly is not around it is a canceled program K is coming along quite interesting they've done a lot of great work on their side and I'd love to see a marriage of the K road map into cardano again but it's just something we're gonna have to figure out as a community if you want to go down and put millions of dollars in many years into Concepts like K yella semantic space compilation and we learned a huge amount and Gregory was able to produce a lot of great software from it unfortunately we were never quite able to get a meeting of the minds of an actual product roadmap we did try Charles are you 34 years old and me and my wife are betting you she doesn't believe we were strong Ada holders well metamates I am 34 born 1987. how about that stemi how can I find out more information about your medical research facility I'd love more information and potentially applying so some of you saw we had an article come out today in the Gillette newspaper talking about the clinic I just tweeted it and roughly where it's at what it's doing the initial footprint's about 10 000 square feet my dad brother helped me set it up and we'll have about 35 employees in 2023 a lot of Physicians some nurses and some specialty people like Pharmacy compounding pharmacist a clinical pathologist is going to be there and we have some researchers as well including people experts in genomic medicine now the first step is to kind of cover the primary care needs both in fee for service and direct Primary Care in the Campbell County jurisdiction and then we have some special product lines that we're developing out in particular hyperbarics that we're learning a lot from now once we've gotten all the clinical stuff done and we're operating a center of excellence for primary care direct primary care and fee for service primary care we're going to move into concierge care and then actually start taking a look at literature and developing a protocol based upon Best in Class knowledge about anti-aging we also have clean rooms and a collection of other things so we can make potentially stem cells and other things that we see fit based upon the regulations of facts and circumstances so it's a slow burn I've been working on it privately for over a year and we're getting close to opening we've been really putting a ton of effort in and we had to find a good location turned out the best location Gillette was an old restaurant we bought it and had to do everything we got easements in four different places to get a sewer line in put fiber optic in we put enormous amount of work into getting the Architects to design something really cool and interesting there's a ton of stuff that's going into it and it's really going to be a center where people can come to get extremely Advanced Diagnostics done above and beyond what most people were looking at like early on collabs kind of similar to what Grail is doing we're going to be doing a lot of genomic medicine where we actually do a full genome sequence we understand your genes at a very deep level and then once we have all that information we come up with 360 care plan everything from how to eat your foundations right so the American College of Lifestyle medicine recommends so how do you eat right how do you sleep right and how do you get the right physical exercise to what type of pharmacological interventions both on the allopathic and naturopathic side can be integrated to make you feel better then moving beyond that you can start talking about optimization neural optimization and procedures in particular that can be done to increase your health and those some of things can be like mindfulness some things can be like Hyperbaric some things like transcranial neural stimulation some things can be like photobiomodulation etc etc and we're going to be in a very evidence-based way of doing things like for example hyperbarics I would love to structure a placebo-controlled double-blind clinical study where we use a hyperbaric chamber alongside some Advanced Imaging to a spec scan an MRI to get a good sense of of whether hyperbarics can reverse or mitigate some of the damage done with the TBI a traumatic brain injury so that'll be one of the first studies that we start constructing once that center is open and we'll just keep adding and adding and adding and over the many years we'll come up with a lot of really cool stuff and eventually we will have mass market products that we come up with and executive physicals and telemedicine for people who want stuff remote so good to actually have something opening at the end of the year it's been a long road this is one of those nice questions how does it feel to be a billionaire when the rest of the planet is starving as if my status caused that you guys you just live in a bizarre world of The Haves and the have-nots After the flood bomb that was dropped on social media a month or so ago you said we'd probably not see vasel until the new year was that just an emotional Outburst or without a genuine concern I never said that so whatever the hell you said that was just a lie I said that people would say that we wouldn't see fossil that's what I said you see you got to be careful you got to listen I'm very precise with a lot of things I say I said the fud bomb would make people believe that vossel would not come but 135 3 is what we're forking with nothing materially changed from what we said Charles will deadless every show token value Daedalus shows currently Ada value to get token value you have to get a feed for it so if an oracle is exposed from the dexes it could be integrated in or if it's listed on Exchange it obviously would come through coing gecko so it's that that's the contingency not us Charles how's the project in Africa going quite well Antonio We Got The Possession relationship they just raised 11 million dollars and we're putting together a real cool real fly plan and we'll have more to say actually in November actually it's all coming together the identity component the wallet component and also the application stack World mobile is also doing really really well bonjour [Music] well bonjour all eight Founders confirmed that story yeah did they really even Anthony diorio and Amir shatrine who weren't even in the house or Joe Lubin who wasn't even the house they all they all confirmed that huh and I'm actually one of the eights so by definition no work you haven't what he wasn't there either so not him it's just me high people make up [ __ ] God you're crazy man Charles are you on board with the weft God no I didn't even go oh here we go Charles could you please explain what happened with Stacy the Al Green Foundation CEO I'm friends with Sylvia McCauley I've been on panels with them I've had dinner with him multiple times he's a very nice guy and I knew him before Al Grant came out we'd ran into each other on the on the circuit because he does crypto stuff and we do crypto stuff and that's crypto for cryptography and that was prior to cryptocurrencies in fact first time I met him was at Financial cryptography in Malta and we had a lovely dinner at an Italian restaurant you see I like what they've done with algorithm a lot of real cool ideas in that ecosystem and there's a lot of good technology in that ecosystem they're a long way to go and they have a lot to do now the AL Grant Foundation has always been an interesting artifact there's the algorithm Corporation algorithm Foundation One Silvio runs one Stacy runs now I don't know too much about Stacy I don't believe I've ever met her I do know their CTO quite well because she poached one of my employees John woods and had him coming over to the AL Gran Foundation very inconvenient time but she offered him a king's Ransom to go over I'd have taken the deal and it is what it is these things occasionally happen and we poach sometimes from certain people but we'd never tried to take anybody from the El grantha side because we had a lot of respect for that organization it's not reciprocated I guess in that regard there's also been some things I've heard where the foundation cardano Foundation has been disinvited from events because people at the El Grant Foundation requested it I haven't personally been able to confirm that but I've heard it directly from the people disinvited and I have no reason to believe they would just lie about something as strange as that so I'm not really sure what the agenda is or what the value is in this pettiness and also in the desired approach it doesn't materially hurt cardano there's just this is an apples to oranges thing but it does hurt our ability to collaborate there's a lot of things on the list that would be mutually beneficial like developing a post Quantum vrf is one thing we both use threshold signatures there's a lot of things that need to be done there we use that mithril they use it in different areas and to me it makes a lot more sense to do research collaborations because they poached a lot of the IBM research people with tall Robbins group and there's some things they're quite good at and there's some things we're quite good at that they're not and it would make sense just to work together you have the lab at Stanford we have people at CMU we have people all around that we can talk to on a regular basis for everything from formal mathematics to Game Theory we don't really need to work with one group or the other there's enough brilliant people to do any amount of research but we're both in the same space we're both neighbors and we do get along quite well with the algorand corporation I've just never really understood the AL Gran foundation so she tweeted something bizarre today which I didn't understand either saying if you question the Integrity of the AL Gran Foundation that you should sell your currency there's been many times where people have questioned my Integrity that just this very chat I've been called a sociopath you guys saw it based on some stuff written by silly people there's been many times people to question the Integrity of the cardano foundation or other actors never once did anybody say you should liquidate your Ada because you happen to dislike one of the members of the community it's like saying you should abandon your political party because you don't happen to a member of your political party imagine you really strongly dislike Bob Dole or are you really really strongly dislike Governor Hickenlooper and therefore he can't be a Republican or a Democrat they're [ __ ] parties be bigger than people and simulation protocols be bigger than a particular Foundation even if you believe the foundation has an Integrity issue or something like that so I wasn't commenting on the context it just came up my Twitter feed and I said God that's strange and so I just tweeted something about it again because I happen to respect Silvio and his work and his people and his researchers and also view Al Grande as one of the good protocols in the third generation that has a lot more to do and a lot more to say and I like John Woods that's if I didn't I wouldn't have hired him back in the day and we worked very well together and I figured that there would be a lot of collaboration with John and we'd be able to find a lot of things and so I just felt it was bizarre to personalize the protocol in such a way and counterproductive which is why I commented on it you'll find this a lot people poach all the time definitive once tried to poach some of our people they weren't successful I mean a protocol was for one of our employees and they continue to try it is what it is we'll poach back then when they do that it's just how that works either you get along or not and you focus on the work you focus on the papers you focus on the code that you need to write and you go and get it done hi Charles what's happening with pipelining well it's enabled the stake pool operators are doing it and you're doing it if you have Daedalus 5-0 it's there how high did you get during the video shoot with champ well I will remind you that marijuana is illegal in the state of Wyoming Sarah so obviously none of that happened Charles when can we expect did integration great topic we're right now working on integrating atalaprism with lace now prism is going through a big retrofit version 2.0 will be the integration point and Lace obviously has to get launched so next year there will be an identity Center and a tight identity based wallet a lot of work is going into it starts slow things like human readable addresses and maybe a premium tier for wallet recovery but then eventually you could talk about travel rural integration stuff like what V Wright is doing and so it's just one of those things foreign how do you approach concrete evidence Chico presented today about you and cardano I don't even know what Chico said Dan why am I even asking get out of here why do you care about molten tar monster three concrete evidence okay Ty Charles and your hydroponic research what style of newts are you thinking about right now we're thinking about what hydrogreen is doing with fodder production that's what we're working on and I want to get a fodder module sometime next year installed to feed the Bison it's a good entry point also have small scale vertical hydroponic farming and mushroom farming with farmbox foods and they're definitely working on it those will be installed here this weekend and then we'll get somebody to kind of run them but we've worked with farmbox for years now and hydrogreen is a new relationship a little side gig all right Charles you can use Pomade and get your hair style before the ma you can get a community to vote with which hairstyle guys this is not only fans I haven't gone down the Charles version of Bill Delphine quite yet I know you'd love that to happen but it's not going to happen oh here's the alt account you guys are actually buying into the BS this guy's spearing Jim what what what's the BS so far honestly what what's the BS Kawaii got a whole audience here 740 people live stream what you got for me come on get give it to me give it to me just one thing just one thing that's been said right now in this presentation that's that's BS have you heard of the Methuselah Foundation I assume they're related to anti-aging you see again nothing specific use these critics they're so bizarre these are just outright liar they use innuendo there you go it's great and then the same question repeated I answered it I think these are Bots I've seen a huge surge in bots on Twitter recently and a lot of bots in the comments section and I and I think they're there to demoralize and degrade and I think it's part of a large psyops campaign for Traders to hurt things because it's it's kind of strange hi Charles this is Brett from Longmont Colorado hello neighbor what is the most important thing about cardano that folks new to crypto should know cardano is an evidence-based peer-reviewed third generation cryptocurrency that seeks to bring economic identity and banking to the world for those who don't have it built with decentralized principles and led and operated by its community how will you fund This research which research are you talking about the post Quantum vrf these things usually that's open source research that's done the same way we fund the Stanford lab and the other things see again I'm actually thinking this guy's a bot Jim if you're not a bot can you let us know can you can you type something can what is your favorite color of rabbit and where is the first time that you saw rabbit so can you give me a color and a city gem I'm really curious to see see what Jim's going to give me here because I think he's actually a bot that's curious that'd be a cool data science problem take a look at this go back down the new comments from Daniel Commish thoughts on 3D fractals have you seen the animations of the mandelbob and how is it possible that's not designed because chaos is crazy foreign yeah I think Jim's about Charles I'm so grateful for your plans to do clinical trials for Hyperbaric therapy I was severely vaccine injured April 21st April of 2021 went through hell for 16 months H Bob brought me back yeah I read your email you sent to me Steve I would love once we have everything running to to actually see if we can do a clinical trial it just depends where you're at but it's going to be at least June of next year for the Hyperbaric Center to be open and it's probably going to take a little while to get all that done and we're still working on some of the licensure for it so there's a fellowship you do for Hyperbaric medicine the Physicians are going through it at the moment we still also have to kind of build up everything so it's a huge amount of work but once it's operational it'll be really fun to take a look at what clinical trials we can do first with it are you working on epigenetic reprogramming so your Hardware the genes your software the epigenome and that's the genes that are turned on so what proteins are you making from your genes and you can do that actually with environmental factors like pressure high pressure and high oxygen actually turn on and turn off certain genes which is why hyperbaric chambers work over 800 different genes that get expressed from hyperbarics from a paper that came out in 2008 and that's one of the first things we're going to validate with our chamber how are you liking the new Rick and Morty so far new episode tomorrow I really it I think it's super cool Charles's iohk still working on other crypto projects yes we are any thoughts on how ihk can improve lunic we have nothing to do with Luna or luna classic any of these things it was a Ponzi them it's a Ponzi now the model is broken if you want to look for a better Luna that's Jed that's the fixing for it do Quan was a pretty nasty person I never met him I know nothing about him I just know that he dissed us over Twitter buying some Ada for the negative correlation you have that [ __ ] work out for you foreign there's just some people in this industry that are are just true pieces of [ __ ] and he was one of them and I'm very glad that he's gone now it's the space is better for it and I just don't understand people who Embrace these things all these brilliant VCS oh we're crypto VCS we know so much and they go in and they invest in this garbage and you look at the economics of it you look at the design of it you look at the technology behind it and you say Ponzi Ponzi Ponzi Ponzi Ponzi all the way through they say all but we're making so much money yeah until you don't then you lose everything and then you create 600 billion dollars of losses and then guys like me we have to go clean up the mess we have to deal with these giant White House reports we have to deal with all the regulatory consequences we have to deal with all the after effects the hurt investors and you guys keep the money yeah thanks thanks for nothing what's your opinion on the White House digital asset framework I'm still reading the reports I will have an opinion in a bit we did get some advance notice because we did work with nist and others but we have not we have not gone through all of it it's a lot of work there's like probably four or 500 pages of context there you talk a lot about you talk about lace a lot and your endorsement is very influential what do you think about other wallet projects like Jiro and eternal okay so Larry what I want is a certified and uncertified wallet world so I want an open standard for wallets and basically my commitment is any wallet that's certified I endorse and any wallet that's uncertified I do not is that simple because if it's an open standard and it adheres to security and quality and usability then I know that if a person has that their funds are safe or at least safer than the average so that's the deal so one of the things I'll commit to doing is trying to figure out how to get to an open standard for wallet certification and to create an ecosystem where it's a process of wallet developer can go through and get done and then lace will get certified and any other wallet that gets certified I'll recommend all right Charles what do you look for in dissect in research papers well it's a good question so it depends on the nature of the paper so what discipline does it come from so the first thing we all do and even if they don't say they do it you look at the authors first very first thing you read the title in the authors and you kind of look at the affiliations these types of things because if you've been in the business long enough you get a good sense of of who's good at what where and if the names or not and then basically that tells you what to expect so if I see a Yehuda Lindell or a Dan Bonnet or John Katz that's a very different thing than seeing an Andrew Miller or David missouris or something like that their writing style the level of rigor that they use the type of proofs you're going to expect the level of Precision they have in the language that they use and then ultimately how much is a hand wavy and how much is not and these types of things so some people are very very good writers and they're just beautiful and it's fun to read I really enjoy Phil watler's papers and I really enjoy Sylvia McCauley's papers Addie Shamir as well I think he's a phenomenal writer others are they're very technical and they're very dry and it's they're tough papers to get through so then you read the interaction in the conclusion and you just try to orient yourself and get an understanding of well what am I getting myself into and what are you claiming and how ambitious are you and you look at the conclusion and it kind of gives you a sense of what are they how how much do they claim to solve you see and then you can go through Section by section and you kind of extract out the major results reading a proper research paper that has lots of math in it and in a domain like cryptography or distributed systems it takes a good week two weeks to get through that paper to a point where you can replicate the protocol on paper where you understand enough about it we're in pseudo code you can kind of write out sketch out the core features of it and speak about it intelligently now unfortunately most of these papers it's very difficult to reproduce all the proofs and so the papers because in many cases you don't get a full proof but a rather a proof sketch and they tend to leave proofs in the appendices there's a variety of reasons for that usually around paper limitations for the conferences that they referee them at and also in some cases they haven't actually fully proven everything or they've only given a partial result so this is becoming increasingly common we see some cases not some cases people are very rigorous and a lot of notations some cases a little bizarre so it just depends on the nature of the paper but in general the introduction conclusion the scholarship the authors and the if it's been peer reviewed or not it tells you a lot and then if you're interested you look at the protocol and then you tend to group things together like for proof of stake there's a bft style approach which is what Al Gran takes and then there's other approaches like what we've taken that look a lot more like what Bitcoin does but in POS land and so there's families of these types of things and zero knowledge cryptography is the same there's families of these types of things like are they using class groups are they using something else and then you look at it you say oh okay I get that I understand that and then you kind of get a sense okay well what are they really claiming here is this one of those better faster cheaper plays or is this a new capability that we haven't seen before so it's just like oh you don't have to trusted bootstrap anymore or you have Quantum resistance or something like that okay pretty interesting and how far along is there an implementation or these types of things but that's generally how I read papers in this space but that's for this space but then when you look at medical research that's a whole different thing a lot of Statistics in that you have to think carefully about the experimental construction confounding factors here with cryptography you have an adversarial model and then you have well understood techniques that people have and then you ask is is it a simulation these types of things guc there's all kinds of stuff that goes into this but it's it's pretty structured and you just bucket it together and then you look real closely and I'd say am I convinced that this is a pretty good argument with biological research it's different because you're looking for evidence and you're presenting the nature of evidence and you're trying to reason about well what does that actually mean so it's a very different type of reading foreign how long before a teleprism is in use for systems of credit for loans probably next year I know possession will be doing something next year with cardano but it's hard to say exactly when that's going to be a did issued from a tulla prison with a reputation system on it might be a more graceful Bridge from their proprietary credit scoring to a more open Credit scoring system the npl rate is great though it's two percent versus 40. Charles have you seen the latest Chico crypto video he is ready is he like challenging me to a fight again or something I don't watch the channel guys so oh now it makes sense like Lynette and all these things it's Chico doing engagement marketing okay now is this all makes sense now okay Charles is that the cup of a carpenter on a safe yes and I actually took that to Petra you get the reference how about that I got this anti-aging biotech so I figured I'd put it together yeah man I was see it all comes together there's always a reason with this stuff from lust hey Charles I love seeing you have a chat with crypto crows working on some new social media and other cool stuff I definitely I'm gonna have one he might come to rare bloom or we might do something online he's working on a lot of cool stuff some wargaming stuff too and he's planning on building some things on cardano I I like crypto Crow he's a cool dude I know some people don't but I've never had a bad interaction with them when new podcast studio is going to be built downstairs in Suite 102 yeah or 103 excuse me and we're right now talking Architects about it and I promise you it's not going to look the original Joe Rogan Austin Texas podcast Studio Charles how do you filter through all the [ __ ] in the world well you just you think about what incentive and perspective does that person have and nine times out of ten if they're a real human being the incentives or perspectives are misaligned and so which case it's not personal that tenth out of tenth time it is personal because they're just an [ __ ] so nine times out of ten don't bother you and the ten time out of ten the question is who's that person what's they to you most often and nobody they're just nobody's punching for nothing and if there's someone close to you though and you have a relationship with them it does tend to bother you from time to time like yeah a great example would be I knew Max Kaiser for years we announced ethereum on a show and I announced cardano on a show and I'd had dinner with him before and Stacy and we had actually pre-cordial relationship and then out of the blue for no particular reason and he just took the crazy pill and went Total Team orange and then suddenly went from a good nice relationship where we'd say hey and hang out and these things I'd see him at Satoshi round table and so forth to and them asking me to sponsor their show to him comparing me to Epstein for taking paycheck protection money like bizarre weird [ __ ] and prognosticating that I'm going to be in jail in a year or something like that and we're all scammers and only Bitcoin is the source of Truth now well that one stung a little bit because I knew the guy and had a relationship in that I felt like well we weren't friends I mean never really friends with people in the media at least there was an understanding and a consideration where we treated each other with respect and then he just kind of threw us over the rails to I guess advertise Bitcoin maybe he got money from block stream or something to go team orange who knows and he made it really personal the criticism just bizarre stuff so every now and then you see things like that and you don't know why people do it and it kind of jars you a little bit because you get a sense of a person and you don't think they're going to go that direction and then what do you do well you just say okay it is what it is and you move on and you try not to let it bother you too much and for the most part it doesn't but it does surprise me and it actually kind of makes me a little sad all right thoughts on two major block producers controlling if since the merge building a consensus algorithm that is both secure and decentralized as well as fair is extremely hard and you guys are all going to live it now in the ethereum world and you're just so smart and you just figure it all out okay welcome to proof of stake we've been here for a while and I hope you guys start understanding why we designed Dora Boris the way that we did you mentioned about building a media Studio this year yeah so I own this building and downstairs is where we're going to build a podcast studio we were hoping to get it done this year but the the tenant that was in that room didn't move out so we'll get it done next year because they wanted a little bit more time Charles when will you take a bigger stake in ergo's development currently we don't have any stake at all I just own a little bit of Virgo because the legacy of Alex chirpinoy working at IO I really like Alex I really the Ergo ecosystem and I would love to find a way to collaborate with that ecosystem take a larger role because it would be the perfect test bed to roll out othellamos useful proof of work there's a enormous amount of development effort that we required a lot of Plumbing that needs to be put together to make Ergo truly a tier one cryptocurrency but I love the community and it's exactly what I hope for when we were looking at ethereum Classic when we came in with a beautiful road map there we were received with skepticism and just craziness and toxicity which everybody who enters that ecosystem tends to get if they invest any amount of time with Ergo every time we come in it's just welcomeness and open arms and friendliness and people really like us and we really like them and every Community event I go to it's a lot of fun and it's just a great small cap currency and it's got a lot of Hope and a lot of vision and it reminds me a lot of like Bitcoin in the early days which is maybe why I got a soft spot for Ergo so I would love to do more there it's just a question of time and right now we're so committed and focused to cardano and we have an enormous amount of work ahead of us so we got to get that off the plate first foreign can you talk about the iso 222 rollout well it's not you flip a switch it's a collection of capabilities and interfaces you need to be interoperable with a lot of this open banking stuff that's happening and a vast majority of them have nothing to do with the cryptocurrency space so we did do an analysis of it and it's just something that would best be rolled out probably in an Enterprise framework so my hope is that we can find a way to combine it with a firefly integration and that would probably solve it because then you could run it on an ATM or a legacy banking infrastructure but it's a known artifact and people seem to make a big deal about it but it's not a big thing for open banking at the moment this one is another example of just perplexing a bizarre behavior so ethereum is a great example of this you have Commissioners say ethereum is not a security okay but now I guess it's not the official position of the agency but there's a strong implication that if bitcoin's not then ethereum's not they're both proof of work and for three years the ethereum community tells the entire world what they're going to do heads of state are informed Governors are congratulating vitalik like Governor polis in Colorado Google has an official countdown for the merge there's enormous amounts of academic work that's done huge amounts of community work all the regulated exchanges are doing it it's a known thing in coinbase's S1 filing when they go for their IPO and only after all of that when they switch over does the chairman say well now I guess they could be a security maybe you should have like proactively said hey if you go down this road you're becoming a security don't do it I just don't understand I I don't I don't there's just one thing that said and the other doesn't make any sense so hopefully we get to a point where things improve and get better but it just feels very adversarial right now and my hope is that some sort of hegelian synthesis can be done with the financial Innovation act that Lamas and gillibrand have as well as this recent executive order output with the White House they can come together in the legislative branch can actually pass a law that gives everybody declarity that they need asset classification the role of the cftc the role of the SEC what exchanges they're supposed to do custodial standards tax standards cross-border settlement kyc AML considerations ratings all kinds of things need to be resolved so a lot of it can be resolved through work with Regulators some has to be resolved through new legislation it just has to be done and this is long overdue and I'd argue the legislative branch has been negligent in their Duty now why hasn't anything been passed they're waiting for the end of the 2022 midterm election and then wherever those cards fall the beginning of the year was an overwhelming Red Wave now it's starting to lean a little bit more blue who the hell knows it's probably going to be split where the Republicans take the house and the Democrats keep the Senate who knows wherever that lies it'll calm everything down and something will get passed next year more often more likely than not and then we have Clarity moving forward as an industry it remains to be seen if it's going to be a good thing or a bad thing I've had my say a lot of people in history have had their say we've certainly engaged a lot of congressmen a lot of senators and we've done a lot of work to try to educate people but I'm just getting a little tired of the adversarial nature of things and how people want to use regulation as a cudjoal to harm their competitors it's not proper it's not the American way it's not how we should do this it's something we need to grow up and move Beyond at the end of the day there are problems and those problems will only be solved with Clarity and Clarity is not applying us 80 year old framework work to things today and just magically expecting everything to work you will destroy everything of value offshore the industry and at the end of the day make the entire industry less safe if you do that I've watched many crypto people talking to Congress and by far Charles you did the best blew the entire crypto Community away it was it was tough because actually the questions we thought we were going to get we got very different ones and I did my best I'm not a lawyer I just tried to represent everybody I didn't even mention cardano I think once in that I just I said I'm a representative of the industry we have to put on a pretty face I cleaned up my beard a little bit put on a suit and went out there and did my best I'm not perfect but it's an obligation I have to the industry and we did everything we could to try to be friendly and open and and work with people at the at the end of the rainbow maybe it moved the needle maybe it didn't I don't know it was a little disheartening when I looked at cryptocurrency Reddit and the comments there afterwards some people said wow I guess he did an okay job but I think the biggest issue we have as an industry is that if we actually actually work together and we actually coordinated together we would be in a position where we're Unstoppable because at the end of the day what we're selling is freedom we're selling Liberty we're selling technology that that raises people up and makes people equal and gives people Fair markets to work with but instead we have this in inane insane tribalism that's so pervasive that every single person is captivated by it in some way and polarized by it in some way and you can't even make a comment anymore I said ethereum is the Hotel California of crypto now why well because when you stake you gotta lock it and who the hell knows when you can leave when you get your stake back that's direct reference to the song it's such a lovely place you can check in but you can't check out so yeah you can you can lock it you don't know when you can unlock it it's just a tongue-in-cheek comment but it really captures the current reality of the consensus mechanism they've chosen many people aren't aware of and then you read the comments on cryptocurrency Reddit and it's like what [ __ ] planet do you guys live in this is nuts and yet we're supposed to go to Washington and tell The Regulators that we can take care of ourselves as an industry tell them we're adults we got it all figured out and just trust us it's all going to be okay lose 600 billion dollars of value over scandals like Celsius and Luna and then somehow it's going to be fine it's all going to work out trust us come on guys grow up honestly grow up it's not working and it's it's a draining industry to be in every day very draining very harmful very hurtful it just eats away at people little by little and it's got to stop we got to be welcoming inviting we got to be friendly with each other we can't do crazy [ __ ] anymore and yes you can joke around on Twitter you can have polite little Jabs here and there it's one thing to say Hotel California it's another thing to say a person's a sociopath a criminal a con man a scammer everything I don't believe in that I don't agree with is evil the person running it is literally Hitler and his only intention is to harm people and then we go to the regulator and say but trust us we got it all figured out come on grow up Cheryl says cardano use cryptographic sortition no that's a technique that's used by bft protocols in particular algorand for how they select things we use a different mechanism to select people Charles is layer Zero versus layer one just semantics not really layer zero usually refers to the network stack it's seldom referred this way because they're bundled together but actually it's quite meaningful where's the lobster foreign just have to put them back on the mic do billionaires get lonely well of course they do that's why they buy donkeys mini donkeys and Mr Tibbers is doing quite well got him another mini horse to hang out with named guskus they love each other [Music] ever been to that super max prison in Colorado no why would I go I don't even know if they let people in good old super mask and what do they do with the donkeys they make an ass of themselves thoughts on Twitter and musk that is one of the most interesting things I've seen in a long time you don't see these very often in business every now and then you get the shotgun wedding and boy we're really just we're just going for a ride so Elin got it in his head that buying Twitter was a good idea I don't know where he got in his head I don't know maybe he was that burning man doing lots of drugs with Jack Dorsey or who who the [ __ ] knows this guy he's he's on a different level okay so he gets at his head this is the this is a great idea buying Twitter is the best thing since sliced bread and he's riding High because he's world richest guy and markets are doing real good for him so he starts making some gestures towards it buys a little bit of the stock and then says I'm gonna buy you now and then the board very rightfully so said well we have some concerns here because you're running like six companies and doing all this crazy stuff around here and there's this Maelstrom of chaos that's around you and we're real concerned that if you get involved in the operations of our business that potentially this would not be good for the shareholders and not good for the employees and then Elon says well that's that's a legitimate concern how about 44 billion dollars and the board's like that would be great so here's this contract and if you're willing to give us that 44 billion dollars with no backseats we'll you just do whatever the [ __ ] you want to do so he he kind of did the Minecraft Microsoft thing where Mojang was like yeah we were all about the open ethos and we love gaming and all this stuff and then Microsoft like here's two billion dollars and he's like Well everybody's got a price goodbye everybody and now it's part of Microsoft so originally when he offered it I said wow okay so under the hood he probably chopped it up and there's some investment Banks and all these other people are gonna come on in he'll take the Lion's Share and be the face and take the credit and do a private Equity thing he'll come in and take it back public in three to five years after he's done whatever the hell he wants to do with it okay and I thought maybe this is political cover that he made a deal with the Republican party where all the the stuff that the Twitter Executives were doing with the Democrats he would because of sarbanes-oxley be able to unblind that and drop it in the election and use weaponize it and do all kinds of things and if he's helping the red wave they're going to reward him with government contracts and all this other stuff very cynical it's the Washington Post with Bezos it's a power play you own New Media you have a lot of influence it's going to help his government-sponsored companies like SpaceX and Tesla that's what I was thinking I was like okay it's a little expensive I don't think it's worth 44 billion but what really surprised me is the no backseats part you can't do due diligence you can't do this it just is what it is so he collects it and it looks he's going to take it over and then markets go to hell because of the whole Russia invasion and suddenly his net wealth Goes to Hell and financing is a little harder so instead of being a luxury acquisition with some good strategy behind it turns out to be a pretty significant commitment and time and other things and I think after talking to the Twitter employees he realized that maybe when you're kind of right wing taking over a place that's 98 Democrat registered in San Francisco is going to be real hard for you I mean he has to basically move the company and he's going to have to rebuild the entire company from the ground up and hire hundreds if not thousands of new engineers and new management and it's it's like draining the swamp of the CIA or something like that or the state department and adjusting its political philosophy it's too much work and he didn't have the time for it he really doesn't and he knows that better than anybody else so then he says well Twitter is filled with Bots and they should have told me what's more than five percent really it is this like news to you today Bots you really really just just figured it out you just like one day look at your Twitter feed and and you said man there's a lot of bots on my Twitter feed wow you weren't aware of it when people were impersonating you on a daily basis for crypto giveaways that there's a lot of bots on Twitter probably more than the five percent you weren't this is just like news to you man and now he's trying to get out of the deal and a true shotgun wedding and he had the one night stand and now he's he's got the kid on the way and Dad's got the gun and he said Kyle you got to come here but what's so crazy about it is there's not a single person probably in the Twitter organization that wants must to buy it the board doesn't even want him to own it they probably think he's not capable of leading the company yet they're suing him to buy it because they have a fiduciary obligation the maximize shareholder value so at the end of the day if he loses and he ends up having to acquire the company he's going to have to figure out what the hell to do with it and he wins and then he walks away he's caused a lot of damage to the Integrity of Twitter which may be irreparable now maybe he's playing some sort of crazy 3D chess where he's got something figured out where he's going to do a decentralized social network after this whole Twitter or shebang and by doing this he he got access to a lot of proprietary information and he crippled Twitter for a little bit of time and and he's going to do something cool maybe he's doing he's a smart guy I don't know but to me it seems he came up with a hair brain idea he didn't completely think it through he committed an enormous amount of money when he had a lot of spending money like [ __ ] everyone money and then when the money dried up he tried to back out because it was going to be a lot more expensive and time consuming than he realized and also taking over a publicly traded company turning it private cleaning it up that's really hard to do not many people do that really well and unless you're the founder of the company and you have material emotional connection or unique knowledge of that into industry it's really in practice hard to do that and he was basically going to do that and it's a big animal and it's a it's a very controversial animal because every journalist seems to love living on that damn platform and enjoying it so anyway that's my read of the situation as it is and it's a shame because if he was really interested in this field he really wanted to innovate you just get a pack of us crypto guys together and we could figure out a protocol that probably cost about 50 to 100 million in engineering to Launch and it would absorb most of the cryptocurrency space pretty quickly with muss Network and he'd probably have as many users within three years as Twitter had and have a much much much much much better place I mean just partner with us and brave we could pull together a world-class research team Brave already has 40 million users they can integrate it deep into the guts of their browser and then extend it through as a as a both a Web 2.0 play and a web 3.

0 play and we could do all kinds of crazy stuff on curation of information man throw consensus into the mix as well make it multi-chain God we'd all die for that opportunity to be a lot of fun to build and he'd do pretty much no work and get a huge chunk of the credit you could probably even launch it using Doge rat Doge as the unit of account if you wanted to that's a concession that could be made so I I never got it I really don't if it was a five billion dollar play or 10 billion dollar play I get it say oh it's a vanity purchase like Larry Ellison buying Lanai or Bezos buying the Washington Post or these types of things exceedingly wealthy people buy [ __ ] Walton just bought the Denver Broncos for 4.5 billion dollars bitrich for my blood and that happens all the time but 44 billion that's that's even Rich for the richest man in the world hey Charles does vax fossil fix the concurrency issue there was never a concurrency issue so yes [Laughter] it's like just another one of those lies yeah when I see the Integrity of Twitter what I mean is the Integrity of the company I didn't know I'm not implying like Integrity is a moral virtue I'm implying the Integrity as in a functioning organization having a board having an executive committee having Engineers middle management HR all of these things his mere presence in acquiring it means there's a mass Exodus of people and they're going to lose their entire executive committee they're going to lose the board they're going to lose their daily procedures and operations so the organization goes into a crisis state where they could see attrition of half or more of the Senior Management of the organization now you can argue that maybe they all need to be fired the problem is in their absence there's no one to run anything so you're going to run on a skeleton crew and you have to rebuild and meanwhile you have billions of customers and [ __ ] to do and profit to make unless you're prepared to run at a loss for a long period of time while you're rebuilding and refurbishing the company this is why Acquisitions of this size are generally mergers not just straight up acquisitions like with Microsoft trying to buy Yahoo it's comparable size they were going to merge Yahoo with the Bing Group and Microsoft already had the management harness necessary to absorb Yahoo something like that or a bank buying another bank and they merge together there's a replication of all these facilities there's no one at Tesla or SpaceX or any of these things that just be plugged into Twitter and run the whole thing so the Integrity of the unit is is compromised you have to rebuild it and if you're prepared to burn the op cost yeah the Opex of the organization while you're doing that for 12 months or 24 months it's a lot of work and does he have the time for that while he's going to Mars and taking over the battery power car market and drilling holes in people's skulls to put wires in people's brains and drill in holes underground for the boring company and all that God knows what else he's doing that seems important can you do it without must yes it can be and probably will at some point I just haven't had the time why not help true social with that idea because truth social is a perverse parody of itself there's no truth on that platform a guy gets banned and he very angrily creates a carbon copy of the platform he was banned from so that he can go and continue to rant angrily about being banned from the platform that he so loved and was on there's no innovation there there's there's no nothing in true social that's interesting there's no different way to do information curation if you guys are interested in this topic I did a YouTube video about I spent an hour and I addressed the video to Jack Dorsey right here on this pad I did wrote all this stuff on the screen and I explained how all these things work and took everybody through it it was a huge amount of work to think about that and we actually have a group of people that we could easily spin up to do a very interesting information curation things like veracity bonds behind claims verified credentials to segregate the bot class creating Network incentives to curate information and actually verify information that's been shared you can build a reputation system for you can get a sense of the community reliability of people create some stochasticism where people can actually get out of their circles and overlap and meet new people and so forth you can do tons of stuff we talked about that and it's actually great technology in this respect there's none of this in truth there's no desire for any of this but here's the problem if you build that and that structure disagrees with something Trump says that structure is wrong because it's a cult every single thing he says and does is truth and the best thing in the world that's that's what that's about and that's what he built he built an echo chamber we see this in the cryptocurrency space you see with bsv and what Wright has whatever people say whatever he's always right that's the world that they live in he's the prophet so why would anybody willingly enter into that environment that toxic work environment and get covered in the molten tar of the association if you want to build something build it from a ground up build it with the community and demonstrate that it works at scale and that it converges through truth in this respect and if you really believe there's a globalist agenda a new world order and these types of things and they're out to get you well if the system is constructed wouldn't it expose their agenda and their lies and the things that they say wouldn't it be resistant to censorship and manipulation and propaganda and demonstrate that the propaganda is there and it's causing problems probably if it's built correctly so why does it have to be embedded in a highly partisan Network that's beholden to a particular leader who doesn't seem to have a good relationship with the truth it's funny though you say that and oh you're a Biden lover and then next week is you're a trump supporter it's like that shows you how propagandize and polarized people are no I'm a free thinker I don't belong to a political party I'm not beholdened by it I have opinions and ideologies of my own mat to Davis I'd like to get my nine-year-old involved in blockchain where should I start well here's what you should do don't even think about blockchain don't think about any of these things he's too young what you need to do is buy a raspberry pie the one that's made for kids it's on Amazon you can get it for like 50 100 bucks and there's all these beautiful lessons and make your kid fall in love with Hardware so the electronic side and software they even have one where you can build a little robot you can program it together and you can have the robot walk and so forth get your kid in love with technology get your kid in love with a Raspberry Pi then what you need to do is teach your kid about Austrian economics teach them about economics for kids and get them in love with markets get them in love with scarcity thinking about how people behave when confronted with scarcity then what you need to do is get your kid in love with systems theory and just kind of go into that field and say how do I explain systems okay if they love technology economics and systems be super super easy for them to get into blockchain they'll get it there'll be a blockchain native in that respect if you start with blockchain it's like explaining the color blue to a blind person who's never seen in their life it's just there's no reference they can't understand it what's Charles doing next week climbing a mountain in Nepal and pretending to Market Ada oh he's already done that I never climbed him out into Paul one of the community members Chico if you're going to pretend to be a woman which I suspect you do often you really need man to to get your lies straight so there was a Community member who climbed Mount Everest and took a cardano flag to the top of it and actually was tweeting along the way and sharing the story along the way now that got sent my way over Twitter and I was real excited about it it was fun and it doesn't Market cardano oh sure but it tells you a little something about the type of community we have and I I know it might be hard for you to understand that there's an actual Community but they're tough people they are real people they can set goals and Achieve them they can do hard things survive under tough circumstances and they do it not because they're told to do it they do it because they're inspired to do it again all foreign Concepts I know you have a lot of difficulty there it's okay man you just baby steps you gotta at least get your lives right okay thank you when is the Bison game coming out we should have an announcement about crypto bison this year more likely than not at the cardano summit why is Richard Hart better than you because he has much better twerking skills foreign Charles why are you in such a condescending mood tonight I don't know overworked Maybe I am getting pretty [ __ ] tired though of the criticism it's like come on guys it's Saturday night I'm here at 10 30 at night I'm not clubbing I'm not out hanging out with you I'm here with you come on it's how I chose to spend my Saturday for you guys did you say that late will be released at rare Bloom yep will be did you accept the basketball challenge hope not they keep adding people to it they make it scarier yeah I'll do it because I like Josh Miller but he always drags me into these crazy hair brain things which alphabet agency is your least favorite because it ends with a C hahaha I'm not saying nothing did you end up recording music video with Snoop and champ I ended up recording a music video with champ champion and Snoop is I think gonna be in it but he he didn't have the time to head to the Ranch but it was great to actually meet champ he came up we spent a few days together and he's a real cool dude so that should come out probably this year laughs foreign what's your favorite color black hmm [Music] ister oh okay the aliases drop I'm ready to fight I'm not ready to fight you why would I I'm in terrible shape right now I'd have to train for six months I mean be good exercise again ship you had your chance man I was fully prepared to hit Jason set up all that stuff I thought it'd be fun now it's I've gotten fat and old look at the white here I'm taller than you still probably win and to what end what do we gain what's the point it was a great chance for us to come together and make peace move on show that we could be bigger people and do something good for charity too now it would just be everyone it would look like like two fat old guys fighting each other at at a barbecue some uncles get together they've had a few too many beers they start pushing each other around sweats going everywhere t-shirts tear a little bit man boobs come on man it's not so good go do something with your life you what do you gain by being Who You Are what kind of music are you into at this moment I've been listening to a lot of dark wave synth wave and some some of that chill stuff just to relax hello from Longmont I'm a fellow mushroom farmer will there be any local cardano events anytime soon come October to rare Bloom it's in Denver it's not too far of a drive you can take the toll road and I'll see you there Charles if you weren't Rich do you think you'd have the same enthusiasm for crypto of course we've already run that experiment I was poor when I entered in crypto and I had as much or more enthusiasm back then this is the only place that we can go to actually change the world bump boobs and call each other names it'll be like what was that Fight Club the guy with the man Booth from the cancer is just like hits him with the boob foreign now this would be a fight vitalik versus Charles boxing pay-per-view I thought I could take him but then I saw that picture at Stanford and I was I don't know exactly right you're so pure you gotta keep it real man that's the key you just got you just gotta tell people what what's up you just just go out there and tell them what you think who gives a [ __ ] what other people think just be yourself and be honest with people that's the key to life some people love you some people hate you it's okay it's okay it'll all work out in the end okay this one's a good one Charles in Charge of my days end of my life that's an old television show foreign [Music] tentatively for input endorsers stock we're looking at having the sips at least preliminary sips written for The Summit in November that's what we're working on might slip a little but we're working hard on that this is a blast from the past how you doing with those microchips to authenticate items we were looking at developing an open source trusted Hardware module that we could use in currency identity chips as well as things that could be put into a supply chain and we explored it for quite some time we provided some funding to the University of Wyoming and that was one of the goals of the blockchain lab there but it never really materialized and it's unfinished business and I haven't had time to come back to it and I looked at a lot of different Frameworks it would have been really cool to do a roll up with risk five which is an open framework an open instruction set to compete with risk and says the the Intel instruction set but we just couldn't get it done the covid broke out and it slowed down everything on the production side and then it was really hard to find talent and then the head of the lab had some problems and we just weren't able to really come back to it we also had done some deal feels we did the New Balance deal and that was cool and we worked with scan trust and tan Gem and these other guys pretty cool stuff but I'd like to go back to a trusted Hardware modules are pretty cool I can't believe anybody even remembers that that was a long time ago okay okay no I don't have the pull with Yamaha I have a Yamaha story so I'm getting back into the piano I used to play the piano and I ordered these two Yamaha clavinovas that are like digital pianos but they're weighted just a grand piano is so and they play just like them they have all the pedals and they acoustically sound a Bose endorpher or one of the top nine foot Yamaha Grands so I put an order for two of these things two of them not one but two one for the ranch and one for one of my homes here and they say oh yeah we'll ship in August now it's October I can't move the date it's like Yamaha bows to no one if Elton John calls up Yamaha Yamaha will be we're Yamaha not you you they're gonna when they're done they're done and sorry man I there's no way I can pull a rack they're gonna they're just gonna work at their own way because it's a good product Yamaha makes really really good products and you'll be very happy when you get it can you tell us about your alternative ending the Game of Thrones that'd be a 45 minute video but I will do it one day I'll make a commitment to it much better once you guys hear it you'll be like well when are we making it Charles are you concerned about emergent Behavior via complex smart contracts which would be out of scope of the original security model EG chain derivatives or stake for higher Market no because the model is composable so those things if they happen will still fall under the original security assumptions Charles would you be interested in bug or Cricket farming we have a lot of hungry humans to feed no CL oh I see what you did there Claus Schwab that's clever no people shouldn't eat crickets stop it you're going back here to Danny's question it's Denny's question it's not it's not a bad question complex smart contracts so it's really a question of composability within the security model and there's nothing you can do with plutus that would violate the security assumptions of cardano now those security assumptions may have problems given emergent Behavior you could have some sort of a coalition of people coordinating with each other in unknown dark ways as a consequence of smart contracts being used in a certain thing and then you get a dishonest majority we still need dishonest majority in order to overcome the ledgers so I just don't see how a particular smart contract would violate it but if you have a paper of an attack a ring a guy just style thing now on the other hand the D5 Protocols are can be vulnerable because they're built on top and they have their own security assumptions for the funds they control but transitively it's not going to go to the base layer it can't all right that's why you do security proofs what do you like being more a crypto developer or your radio show and that's the rest of the story what is your favorite cigar is the actoro fluente will you ever prioritize creating a Charles Jr well isn't that a isn't that an already existing Charles Jr Carl Jr there's a there's a franchise in there that sells hamburgers oh is that Carl's Jr or Charles Jr I can never remember how about scorpions scorpions are delicious I love scorpions Charles have you ever surfed on a longboard yes in a different life Game of Thrones or Lord of the Rings neither they've taken them from me and Amazon owns Lord of the Rings now and they've destroyed it it's a woke mess and then Game of Thrones it's just ugh after season eight all my love of it died favorite dinosaur the plesiosaur I love plesiosaurs all right let's see here we're coming up at buck 30.