The Adoption of Cryptocurrency

Automatic TRANSCRIPT

I wanted this like so think. Last last week we talked about adoption over that was probably the prior week in in all like there's always a main theme of the show in. It's just weird. That like everything that we said would happen is happening. But it's like we're fighting the happening of it. That's what you mean by that. You said you said that before. We started hearted added to what you mean by the. I don't know what you mean by just now what do you mean for example. I said that you know Many many moons ago we said that You know mining is going to get to a point where we're going to see really strange. Entities Gidon into the mining game name because if now is a path to profit for them right and we. We talked about a month ago or a month and half ago about like certain states. In Russia Russia are like saying a state sanctioned mining who can hook in a straight up to the nuclear power plants. The nuclear power plant was commodity mining. Yeah and then in Iran. They're basically saying like hell. Yeah mine mine away. Because we don't like sanctions and that's clearly happening but there's not much other nation states can do about it at this point. It's just it's just happening. And you know in the US in Wyoming there's now to municipalities that are sanctioning mining and kind of giving them a free go and giving them money to build more mining farms ends overseeing Komo And then you know for for for just felt like years of my life. We talked about institutional money coming into the space in. Its here now. It's actually building the foundation of where the price goes. Now take that what. What what metrics say what Beck search tell you that institutional money is? He's here now like why ever say walking every single month coin based releases a blog that says look at how much our institutional volume is growing in Corolla Colonel Lot. It's Paul W on the growth is correct that like the rate of growth is great but the overall amount across the entire ecosystem because this is still really small so a drop in the bucket compared to like traditional finance like we cannot stop realizing that that's the case we're moving in the right direction for their a fast but we're still small. I get that but right now comparing comparing this space to traditional finance is is a exercise in futility I think it's an exercise in futility because that's not the end game of the space right now we're kind of shoehorned shoehorned into having to compare ourselves to a dollar or a euro or yaw or ruble but that's not the end game of this never been the. I'm game of the in game of this this for this to be the line in the sand that things are compared to i. Don't I don't know about that. Why I mean why? Because that was the whole impetus of like hey. We don't need those systems when we could just use bitcoin. We don't need those systems when there's a network of smart contracts that could serve those systems everything should be compared to this new truth and not that other truth that that's kind of the in game if it's not the in game. This is just a cute side project for somebody. Body like Jeff Bezos to make a lot of money off of because that's not the game off off off it off. Yeah I gave you that. There's a little bit of that in terms of like eventually. Hopefully this becomes the standard that people build on and relate themselves else to including Fiat like nations-led currencies. I believe that's already happening like you see like a river. We interviewed the Guy Bill de decentralized market or decentralized them exchange and he said that the coolest thing happening for us right now is that small nations are actually using the lighting network to finance themselves and we can call. We'll be excuse me we're GONNA be elitist incites it's microfinance but they're doing these transactions at subsidy to get a few dollars in their pocket to fucking buy bread like. That's that's an inkling of what we spoke to many many moons ago in. It just doesn't feel like I know institution money's in their gym and I hooked up with trading view which is like okay if you're one of those guys that wears the three P. suits and does coke in the bathroom at lunch. You're probably overusing TRAE. You're getting like in Doug. I'm not judging you for doing coke understand looking at that many numbers you gotta be spry gotta eat a Nice Bagel. Some coke took a job that will but of the saying that everything we spoke of is now here and I don't think everything is it's starting to be here. Why do you feel like we're fighting it? Why are we like? What makes you think we're fighting it? Because I don't it's like for example we we ranted and raved about about side chains. We got him now the going. But then everybody's like l. that's a fucking federated blogging blahdy Blah. That's a piece of Shit Shit and I'm like it's not though there's like five major exchanges doing very high volume bitcoin transactions in that aside chain that is audible. Now yes it's federated but that's literally something we rant and rave about in its here in. It's working and now people you're like will man arguing school. Buses are painted yellow and blue. And it's like fuck you guys one at school buses so safer for the kids. They're all one color but you're mad because they're blue and not yellow. What the fuck a little over the top? I would say there's A. There's a few things things that contribute to that one is Like this ridiculous infighting that's happening thing between everyone that's inside the space based on what project thereon against the projects that do something similar in a slightly different way but basically you covering the same issue and this like the venom that could spread that gets. That's under the guise of trolling. But it's really just I you know US versus them. Mentality of everyone tried to the same thing. I feel like most people who are deep in the weeds. Have the people were deep in the weeds up becoming a lot of like the people other people in new entrance look up to and into being influencers whether they want to or not and there's just like venomous US versus them infighting that's that's detrimental to the space. As a whole and of time. I think people have lost a lot of the initial ideology of why we're doing this. Or what the end goal was and they make compromises and concessions to try and get something out the door in marketing push go a little hyperbole. What they're offering as opposed to like what they're really doing and and vitually the technology will get better so that it'll make them obsolete to like? I think a lot of the things we have now is because the technologists technologists and scale well enough not fast enough. You don't have the Innovation Shit to like do it. The way we want to make these interim companies that do it the way we can that makes a lot of compromises like for instance just like coin basis so big because the most the technologists and scale and so you have to have these these centralized things that sit on top that allow the people who want to use the stuff to use it at the convenience they want but ah at a more constrained set of like trust and delegated responsibilities like that and we're like well that's not. That's not what I signed signed up for when I enjoyed bitcoin and people are coming in. It's like why Jordan bitcoin big money who gives a shit say it. It's getting bigger and you're getting more people who have different a different views or cares and mixed with people building things that make concessions because they have to get get something out the door and then there. Oh Jeez that are trying to build something that doesn't make concessions but it doesn't work very well but they have a bunch of funding from early days and they're like well what do you do it like. There's so many different things going on. But it's gotten so much bigger like if we were to look back where we started. I if we woulda to had all of this back then maybe we would have been right and we were saying like it's just around the door like adoptions just around the door saying that when we started waited like deductions about to happen. Guys it's just right there. Were almost there just a few more things and it's been five years. We're still like we're actually really. They were so far away. It's the things that get adopted. This is one the things that I've I've finally come to peace with the things that get adopted. Have a ridiculous a torrential amount of funding. Let's just about like crooked. There was this there was this camp. There was a policy like down the street from the Wright brothers doing the same thing but the Wright right brothers older sister was basically financing their entire marketing campaign literally created a newspaper just to talk about their shit and distributed it within the cities and this update fuck man like weakest lie to like. We're doing the same shit. Where'd you learn that? I had to watch the documentary on it when I was in college. How's my engineering degree? We had to write a documentary in report. Because you know there's always that one professor dislike you will watch a movie about my fucking Hebrew and write a report. What about it so I can tune with my core values will euro year? I'll do the same thing. We're going to be derided book reports fucking Bursley like like. You're teaching a class on finance. You shut the fuck up. Bruce Lee knows everything about finding really lots documentary But Lega and then the same thing basically happened with Nikola Tesla and Thomas Edison right the same exact thing. Thomas Edison is an bodied him out because marketing and money and the government like Thomas. Edison fucking politician Bro. I got this new electricity to well. How about this and The thing that spawned everything. We're talking about. Do you mean bitcoin. It didn't have all too crazy marketing and backing to get to be the thing. That's mainly adopted at this entire space. Very true it's actually the first thing in his street. St Paul One of the first things in history that that is probably the case. Like it's almost the exact opposite that's very true so it has to be like a reversion has got to a certain point everything that builds off of it kind of goes back in the old ways. Because that's a there's I don't think there's anything in the CRYPTO currency space. That will redo what Dick wanted because the cats out of the back right like you can't you can't redo proof of work that way it's going to get co opted to early because there's too much attention attention and understanding and experience and and and money in the space to not co Ogden. If there's a bill you could've you could've eagerly screwed things up in the early days if there was enough money attention and resources a dedication to doing

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