Post-Truth Economy

hi casting live from warm sunny Colorado always warm Always Sunny sometimes Colorado today is November 20th 2021 and we're all getting ready for Thanksgiving here in Colorado and the United States it's a wonderful holiday lots of friends and family these things and I'm just getting back to the swing of things I was in Africa for a while and all last week we were really building up and getting things done and the project is going well and so I'm going through my sentiment at scoring my media analysis and I was catching up on some YouTube interviews and things like that and one in particular just made me think a bit and I I watched a bit of it and I just had to turn it off it was the crypto banter interview with Vinnie and Brian and or Bill or whatever the hell his name is and of course molten tar monster number three which I have no idea why ran invites these types of people on a show and it made me think a bit for How can there be such a difference between actual reality and the perception of reality what why is that so significant our industry in general but it's just a microcosm of a broader issue humanity is suffering from we're starting to all live in a post-truth economy we grew up with these ideas that hey if you want to go and fundamentally change all the systems of the world that's probably pretty hard if you want to go and build something very complex a fusion reactor or go to Mars or if you want to go and invent an entirely New Field of academic study that's probably a life's Pursuit it's probably a super hard problem and there's an expectation that for super hard problems you're going to have to bring together an interdisciplinary team of people great engineers and great scientists and great business people and great marketers and great politicians and great people all around to kind of do that great Endeavor this is how I grew up it's how most people listening grew up but now we live in this bizarre post-truth dichotomy where being a unicorn means nothing it used to be if you do a startup the startup is worth a billion dollars they call it a unicorn wow that's an incredible accomplishment my Lord look at this thing and now it's just like whatever what have you done for me today cardall is a project if you take the industry aside for a moment and you take a look at all the things that have been achieved in this project an army of scientists were brought together it's not a graveyard of phds they're at the top of their field they're offered tenure people call them on a regular basis try to get them to leave their blockchain groups it's the top research in the entire industry the best papers in the entire industry by citation count and relevance people top of their game came together an army of scientists an army of Engineers came together a giant Community came together and that Community has enabled cardano to grow to such a scale that it's a self-sustaining ecosystem there's a massive nft group tons of people doing interesting things air drops all the time marketplaces forming like crazy whole wave of taxes not just one but like half a dozen stable coins in the Horizon oracles on the horizon it wasn't too long ago just a few years ago that if ethereum had these things it would have been inconceivable wow so incredible but now it's just like how how will you compete with a cryptocurrency that can shut itself on and off by the women Wills of the founders how will you compete with this centralized thing or this thing that's built on quicksand meanwhile we look at the the science we look at the progress we look at we look at the things that have been done over a six-year period they're astounding a whole new field of research was done this whole concept of decentralized consensus where you have Dynamic quorums and highly Byzantine environment that's not a new that's not an easy thing and the orabor's protocol family by every metric figured out all the hard problems and we successfully as a community came together and built a root of trust now all these babbling idiots on YouTube don't seem to understand how significant that is once you have that you can use that for the rest of time to establish truth in the world property ledgers for nation states voting systems new currencies central banks you can use that at any time to bootstrap other cryptocurrencies permission side chains that operate a thousand times faster this is what Bitcoin has done and why the damn thing's worth a trillion dollars and the Bitcoin Maximus keeps shouting at it they don't care about smart contracts they don't care about high throughput they don't care about fast finality because in their mind the problem they solved was this big decentralized route of trust one canonical ordering for the events of the world the monies of the world one version of truth that everybody can deterministically verify themselves they achieve that and therefore it should be worth a trillion dollars we did the same thing and we did it with all of the features they wrote off and thought weren't possible the extended utxl model completely new way of programming so misunderstood that people go on the record saying that it's not concurrent even though it's the single most concurrent model in existence you can't get more concurrent than having local state if you have a global state to account for then there's just no way to Shard that effectively but well it doesn't matter we live in a post-truth economy now where people just stay stuff well nobody I've talked to is investing in that ecosystem says the guy whose business partner years ago accused us of being affiliated with organized crime he didn't he didn't let that one be known Diddy Vinnie and all these other people they just Babble and babble and babble and babble meanwhile if you actually look at fundamentals we have them from a community from how we do research the problems we've solved to the code that we've written by every growth metric we just keep growing and growing and growing from transaction volume to State pools to the amount of people using the protocol people still are saying there are no smart contracts on cardano even though Nami wallets here space buds is here people are writing and deploying smart contracts the pabs on the test net people have circumvented the PAB just so that they can deploy it with their own mechanisms it's there it's running and you look at the throughput of the system at 20 to 40x probably next year minimum we can get up to about a megabyte block size every five seconds that's what we see on the theory side when we put in pipelining and input endorsers and some Network optimizations and that's just base layer not talking about Hydra not talking about side chains not talking about new research existing research that we have it's just implement it roll it out you have all these [ __ ] parallel teams every day working hard you see the code you see the upgrades but then every single person and these these babbling head YouTube shows just attack and attack and attack and act as if it doesn't exist and then when we achieve it they walk it back and say Well everybody's done proof of stake no and actually they haven't they really haven't it's extraordinary it's just so much noise it really is and it wouldn't be so hurtful if it wasn't if it wasn't believed and taken holes should Sail guys point of the cryptocurrency space is we stand at the edge of a new reality it's a reality of do we embrace all of our demons and the worst parts of society and do we pursue a world where there's no determinism there's no truth everybody's opinions are all that matters we don't actually have the ability to critically analyze things we don't understand that hard things do sometimes require hard work and time we just want to live an instant gratification land where whatever somebody tells oh but I saw this it works until it doesn't with the fastest cryptocurrency in the world is if you guys want to just admit the [ __ ] that's being pushed on this space Amazon go go use the web services it's so [ __ ] fast talk about TPS put a centralized database on Amazon my God you can do a million TPS that's the fastest thing ever right oh but we're not that well then [ __ ] prove it write the goddamn papers down do the hard work have third parties audit the work although we don't have time for that move faster break things we have to get all the people now burn tokens now destroy your tokens so that I can get an extra five or ten percent and then dump it so on some other idiot so that I can go buy a car or a house or these types of things that's the post-truth economy that you're looking at everything should go up a thousand X every year nothing should require any hard work how I feel matters more than reality how I feel matters more than the papers than the work the engineering the oversight the auditability the game plan what you say doesn't matter the monetary policy has to just change on a whim because I have to make money now right it's fraudulent if it goes down 20 goes up 100 x in a year that oh that doesn't matter that's the post-truth economy or we can look at the other side which is thinking for yourselves and looking at the road map day by day is progress being made day by day are you honoring the commitments that you made are you following the road map are you building are people building on it is the community growing or Contracting is there a coherent logical philosophy behind these things that's self-contained can I verify the claims that are being made independent of the people making the claims basic things basic things there's no magic to this guys it's just good old-fashioned hard work every day good old-fashioned hard work that's it you gotta wake up you got to put your nose to the grindstone you got to push forward and you have to ignore the critics and the noise you have to ignore the madness of the crowds and you just have to get it done and again and again and again that's what we do and just lately it's become so remarkably toxic and lately it's become so irrational the worst thing that ever happened for the cryptocurrency space was the big boom of this year I'd say it because it brought in a mindset that you get something for nothing it brought in a mindset that instantaneously the whole world is going to change and all things are going to be great and glorious and everybody's rich that's not how it works it's never been how it works and what's so sad is so many Great accomplishments have occurred from Bitcoin adopting Taproot God that was hard for them to ethereum finally making real and meaningful progress on F2 two completely new technologies like Avalanche for example come out or the emergence of l Grant and how it's started to grow El Salvador adopting Bitcoin there are dozens of real accomplishments on the cardano side all the great Publications that came out this year the shipping of Gogan smart contracts under the extended utxo model the single best and most advanced model for concurrency for smart contracts built on a foundation that will finally allow certified software to be easy my God look at all these things but what are the headlines the post-truth economy headlines Dogecoin Shiba Inu nfts all of these things and look how much money these people have made and who are the heroes the people doing the work or the Babbling heads on YouTube just spraying diarrhea out of their mouths it's a choice we all have to make I made mine despite all this noise we've never once deviated from our road maps we've never once deviated for the launch schedules we never change we just keep going we told everybody what we were gonna do we said Byron we said Shelley we said Gogan three down now you got Boston Volterra and we're marching forward it doesn't matter how long it takes how much work it takes it doesn't matter what is necessary to get us there it will get done because it needs to get done if you build a system like this you get to go to the Moon you get to go to Mars you get to change things you get to actually live in a world where things are fundamentally different and the community is with us in this respect no one seems to ever talk about that all those babbling heads on YouTube all these people spewing nonsense on Twitter all these VCS they've talked to 20 good people about all these things and how amazing they are they never seem to talk about that and also where do we go with this if you build your Empire on a ledger with no principles you build your your infrastructure on infrastructure that can change at a drop of a hat that's not truly decentralized that has numerous technical problems it has security flaws embedded within it it has no certainty of upgradability no foresight about how interoperability is going to work no Theory or science behind it and that's founder effect written all over an insane distributions of the ownership of the system if you build your Empire on that it can be taken from you really quickly if you build it on granite if you build it on a solid Bedrock like khufu's pyramid it's here four thousand years later it lives and grows and endures but no we have to move fast and break things oppose truth to the economy instant gratification the post-truth economy that's where people want to live it seems I guess the point of this rant is it's a warning for people you have to take a step back and stop listening to the sooth layers and the provocateurs and the empty calories of propaganda and you have to use your brain and think and you have to ask yourself why are you here what are you trying to accomplish what's the point of this technology what are all these labors about what's the philosophy that you believe in where's the virtue in the things that we do what type of world would you like to live in where would you like to go in that world what type of world would you like to live leave behind these things where does value come from what is the nature of money what makes good money versus bad money are you completely certain and comfortable that the economy that you live within whether it's the U.