1 00:00:00,120 --> 00:00:01,640 Look at that. Look at that. 2 00:00:01,640 --> 00:00:04,080 You've got your own theme song. I didn't even know that was 3 00:00:04,080 --> 00:00:05,880 gonna happen. That just happened with our 4 00:00:05,880 --> 00:00:08,520 producer. J6 clearly came in, was 5 00:00:08,520 --> 00:00:12,240 listening to the show yesterday. He owes us a few favors given. 6 00:00:12,240 --> 00:00:15,600 He won a few prizes on rec radio and now has decided to put you 7 00:00:15,600 --> 00:00:17,080 guys in. So you're now official team 8 00:00:17,080 --> 00:00:20,760 members, it seems like. How do you feel for one more day 9 00:00:21,440 --> 00:00:22,200 then I'm firing? You back. 10 00:00:22,200 --> 00:00:25,760 That wasn't. I'm just happy that Cows finally 11 00:00:25,800 --> 00:00:28,890 like, has a name. Because like, he was just done 12 00:00:28,890 --> 00:00:31,970 dirty this whole week. No one. 13 00:00:32,409 --> 00:00:36,890 I've been carrying the show and I was lost off the titles I 14 00:00:37,050 --> 00:00:43,370 scheduled in faces on Tuesday and then so we already had. 15 00:00:43,610 --> 00:00:45,690 And then I couldn't find the many ways I was like, right, 16 00:00:45,690 --> 00:00:47,330 this is easy this way. But today I was like, right, 17 00:00:47,410 --> 00:00:49,450 that's it. Cows gets an official mention. 18 00:00:49,850 --> 00:00:52,130 It also looks like Farooq is not gonna be here next week. 19 00:00:53,050 --> 00:00:54,570 He is gonna be in Singapore time. 20 00:00:54,570 --> 00:00:57,630 He let us know I was potentially gonna go out there. 21 00:00:57,630 --> 00:01:00,070 I'm not. So it looks like it's me and OSF 22 00:01:01,070 --> 00:01:03,670 and who knows? Who knows how they show? 23 00:01:03,670 --> 00:01:08,350 It there is a spot up for grabs, like one of you will make it. 24 00:01:08,630 --> 00:01:13,310 That's all I'm gonna say. That's no, look, Cows is already 25 00:01:13,310 --> 00:01:17,470 saying that he carried and he's the new Farok, so I don't know, 26 00:01:17,590 --> 00:01:20,070 but that's crazy. So Farok is just like, no, he 27 00:01:20,070 --> 00:01:23,550 had his birthday and he's just, he's just off, isn't he? 28 00:01:23,750 --> 00:01:26,400 I mean, this is a lot guys in my opinion. 29 00:01:26,440 --> 00:01:29,320 The funny thing is is, well, I I took a week off in August and 30 00:01:29,320 --> 00:01:31,040 the whole show stopped during that week. 31 00:01:31,280 --> 00:01:33,800 They both decided that they weren't going to do the show and 32 00:01:33,800 --> 00:01:36,320 then the week, the week that they take weeks off, I have to 33 00:01:36,320 --> 00:01:37,560 continue. To do this show, well, they 34 00:01:37,560 --> 00:01:39,840 didn't take it off. Hold on, hold on, hold on. 35 00:01:39,880 --> 00:01:44,520 We actually ran for a grant a whole event in Toronto that 36 00:01:44,520 --> 00:01:48,240 week. So a whole event. 37 00:01:48,240 --> 00:01:51,760 So that was a crazy week. But I mean. 38 00:01:53,610 --> 00:01:57,930 I mean I, I, I gotta admit this it's like it's you guys are 39 00:01:57,930 --> 00:01:59,690 definitely you know put it in the work. 40 00:01:59,730 --> 00:02:03,090 I mean it's it's like every day you have like the fresh hot news 41 00:02:03,090 --> 00:02:04,330 and then you're just delivering it. 42 00:02:04,330 --> 00:02:07,970 I mean that's it's not easy. It's not easy exactly. 43 00:02:08,690 --> 00:02:09,650 I appreciate that. Thank you. 44 00:02:10,009 --> 00:02:13,490 Appreciate. That you go in this room by 45 00:02:13,490 --> 00:02:16,170 Friday. Like first Monday everybody was 46 00:02:16,170 --> 00:02:19,290 like la, la, la, and now Friday everybody's just like, Oh yeah, 47 00:02:19,490 --> 00:02:23,020 I'm carrying this on my back, buttering me up so she can come 48 00:02:23,020 --> 00:02:24,860 on next week. That's how it is. 49 00:02:25,540 --> 00:02:27,740 Clearly, when I said it's gonna be one of you 2, now she's 50 00:02:27,740 --> 00:02:30,460 throwing the compliments. You do a great job, like showing 51 00:02:30,460 --> 00:02:33,220 up during the bear market. Callie's not playing the game 52 00:02:33,300 --> 00:02:34,620 clearly, of course. Right. 53 00:02:35,260 --> 00:02:38,380 Well, we are sponsored again today by cracking NFT. 54 00:02:38,380 --> 00:02:39,820 We obviously had the on Wednesday. 55 00:02:40,200 --> 00:02:42,360 Great guys. Interesting to see how they're 56 00:02:42,360 --> 00:02:44,560 building it alongside a bunch of different communities. 57 00:02:44,960 --> 00:02:49,240 Be sure to check out their webpage, It's kraken.com for 58 00:02:49,240 --> 00:02:51,440 Rugradio to see some of the stuff that we've got coming up. 59 00:02:51,440 --> 00:02:53,920 So they're gonna be partnering with a bunch of different 60 00:02:53,920 --> 00:02:56,120 creators across rug radio for the next month. 61 00:02:56,560 --> 00:02:59,200 We are super happy to have them alongside us. 62 00:02:59,920 --> 00:03:01,920 And yeah, we might as well get straight into it. 63 00:03:01,920 --> 00:03:06,510 Cuz again crypto rallied and then just went straight back 64 00:03:06,510 --> 00:03:08,790 down to where it was. It felt like we were on for a 65 00:03:08,790 --> 00:03:12,510 bit of a positive day for once. Maybe we'd break out of this 66 00:03:13,630 --> 00:03:16,430 range and that doesn't seem to have happened, which is a little 67 00:03:16,430 --> 00:03:21,270 bit sad. But in terms of the topics to 68 00:03:21,270 --> 00:03:25,280 get into, the first one I thought we'd mentioned was the 69 00:03:25,640 --> 00:03:30,160 news about the CFTC seemingly coming off the D5. 70 00:03:30,160 --> 00:03:32,640 I don't know if you guys saw this news, but we've all been 71 00:03:32,640 --> 00:03:34,600 worried about the SEC for a long time. 72 00:03:35,720 --> 00:03:38,400 Obviously they've had some pretty big fights against key 73 00:03:38,400 --> 00:03:43,480 members of the crypto community. It now looks like the CFTC, 74 00:03:43,480 --> 00:03:48,560 which is the main exchange for derivatives and futures stuff 75 00:03:48,560 --> 00:03:51,000 that we were talking about before is now coming after a 76 00:03:51,000 --> 00:03:53,320 number of different D5 protocols for trading. 77 00:03:53,320 --> 00:03:56,040 Some of these seemingly to US investors. 78 00:03:56,040 --> 00:03:58,480 And this, this puts into the cross, has a bunch of different 79 00:03:59,320 --> 00:04:02,280 decentralized public changes that we we see in the space. 80 00:04:02,280 --> 00:04:06,800 DYDXI think it was one of the big ones, but it's just another. 81 00:04:07,280 --> 00:04:09,080 They seem to be less aggressive I would say. 82 00:04:09,080 --> 00:04:12,680 I saw another headline saying that they were going to, they 83 00:04:12,680 --> 00:04:15,360 were going to start like a conversation with different 84 00:04:15,360 --> 00:04:17,079 people about how to become more compliant. 85 00:04:17,870 --> 00:04:22,110 But it's oh, that was today. Just bring up many minutes 86 00:04:22,110 --> 00:04:27,030 again, maybe it's through today, but yeah, it's not a great 87 00:04:27,030 --> 00:04:29,270 situation. I think to have another 88 00:04:29,310 --> 00:04:31,830 regulatory board in the US coming after them. 89 00:04:31,830 --> 00:04:35,750 So pop twist, the CFTC could be a bigger enemy to D5 than the 90 00:04:35,750 --> 00:04:38,910 SEC. CFTC claims that OX Open and 91 00:04:39,310 --> 00:04:42,470 Direct X will offer legal digital asset derivatives 92 00:04:42,470 --> 00:04:46,380 trading and they have kind of come out of them. 93 00:04:46,380 --> 00:04:49,900 These are, to be clear, these are all US based companies and 94 00:04:50,180 --> 00:04:52,940 obviously the CFTC only accounts for US based companies. 95 00:04:52,940 --> 00:04:56,140 So a lot of decentralized protocols are not based in the 96 00:04:56,140 --> 00:05:00,220 US or a lot of D5 in general. It's not based in the US, It's 97 00:05:00,220 --> 00:05:02,060 actually doesn't really have a domicile. 98 00:05:02,620 --> 00:05:06,020 But yeah, interesting to see and I think a lot of D5 people were 99 00:05:06,020 --> 00:05:10,100 pretty worried that this could be the next leg of like the 100 00:05:10,300 --> 00:05:12,220 government basically getting involved in FIFA. 101 00:05:13,330 --> 00:05:15,770 What do you think has? I didn't read the whole thing. 102 00:05:15,770 --> 00:05:18,130 I read bits of it. It felt like they were focused 103 00:05:18,130 --> 00:05:24,050 on people who are offering derivatives based on like, not 104 00:05:24,050 --> 00:05:25,770 necessarily on crypto assets, right? 105 00:05:25,770 --> 00:05:30,290 Like on a lot of these companies you can you can trade like like 106 00:05:30,290 --> 00:05:34,690 synthetic equity derivatives. I think it felt like that was 107 00:05:34,690 --> 00:05:37,900 what they were focusing on. I'm not sure, no. 108 00:05:37,900 --> 00:05:38,980 I think it's for everything I think. 109 00:05:39,060 --> 00:05:42,140 I think it is also for for crypto, but because it because 110 00:05:42,620 --> 00:05:45,180 for them if it's a derivative of a commodity, it doesn't really 111 00:05:45,180 --> 00:05:47,100 matter, right? They fine. 112 00:05:47,500 --> 00:05:52,340 It's also under their remit. So I think I think. 113 00:05:52,380 --> 00:05:54,780 If that's the case, coming after everything, yeah. 114 00:05:55,140 --> 00:05:57,380 If that's the case, then all of these companies will just leave 115 00:05:57,460 --> 00:05:59,420 the US and it will push everything offshore, which is 116 00:05:59,420 --> 00:06:02,180 kind of what we saw with FDX as well, right? 117 00:06:04,840 --> 00:06:08,560 At least this feels like there's some a bit more clarity here 118 00:06:08,560 --> 00:06:11,200 rather than the SEC. The SEC is just like you've 119 00:06:11,200 --> 00:06:12,800 broken the rules, We don't know what the rules are. 120 00:06:12,800 --> 00:06:16,280 Whereas the CFC, I think is more about that These guys are 121 00:06:16,280 --> 00:06:22,160 unregistered rather than like they're necessarily enemies of 122 00:06:22,160 --> 00:06:24,840 the state, but we don't know in what way. 123 00:06:24,960 --> 00:06:28,480 I think I feel less concerned about it because it's more 124 00:06:30,440 --> 00:06:33,440 what's the right word. It's more defined what they're 125 00:06:33,440 --> 00:06:35,920 trying to do right. I would agree they seem less 126 00:06:35,920 --> 00:06:40,040 aggressive than the SECI think like you said, they're only 127 00:06:40,040 --> 00:06:45,960 coming after US based domiciled exchanges at this stage, which 128 00:06:45,960 --> 00:06:49,760 is a good, much better scenario than than the SEC, which 129 00:06:49,760 --> 00:06:51,920 seemingly just came after every token that was issued, 130 00:06:52,480 --> 00:06:57,040 admittedly by US exchanges. But still, yeah, I agree with 131 00:06:57,040 --> 00:06:59,120 what your take was, which is that this probably just moves 132 00:06:59,120 --> 00:07:02,040 everything offshore. There was another tweet actually 133 00:07:02,920 --> 00:07:07,280 which came out yesterday by Alex Sebetnik who is the CEO of 134 00:07:07,280 --> 00:07:10,040 Nansen I believe. Yes, CEO of Nansen came out with 135 00:07:10,080 --> 00:07:13,360 the top ten countries for crypto adoption, Singapore she came #1, 136 00:07:13,880 --> 00:07:18,120 Switzerland #2UA E #3, Hong Kong #4 and US #5. 137 00:07:18,120 --> 00:07:22,440 It does feel like those those four there are going to be far 138 00:07:22,440 --> 00:07:27,720 ahead of the US as as the years come up and it looks like, I 139 00:07:27,720 --> 00:07:30,120 don't know if you're if you're a in crypto right now. 140 00:07:30,120 --> 00:07:32,480 Do you do you ever really want to domicile in the US? 141 00:07:32,560 --> 00:07:36,360 This feels like just it's gonna get caught doing something 142 00:07:36,360 --> 00:07:39,600 wrong. Yeah, downside big upside bad, 143 00:07:39,760 --> 00:07:43,560 upside small. I think it's interesting. 144 00:07:43,560 --> 00:07:45,120 I saw this post as well, but it didn't. 145 00:07:45,200 --> 00:07:46,960 It didn't. I don't go into detail about 146 00:07:46,960 --> 00:07:48,800 what the. At first I thought it was like 147 00:07:48,840 --> 00:07:51,600 percentage of people using crypto, but it kind of is just a 148 00:07:51,880 --> 00:07:56,550 random index, right? I think, I think I didn't delve 149 00:07:56,550 --> 00:07:58,510 into it that much deeper. I just kind of took it at face 150 00:07:58,510 --> 00:08:00,950 value. But yeah yeah, kind of made 151 00:08:00,950 --> 00:08:02,470 sense to me. Switzerland has a bunch. 152 00:08:02,510 --> 00:08:04,430 I mean I think the Ethereum Foundation is based in 153 00:08:04,430 --> 00:08:08,070 Switzerland alongside a number of different crypto firms. 154 00:08:08,230 --> 00:08:11,470 Singapore, Singapore recently actually looks like it could 155 00:08:11,630 --> 00:08:15,270 could not. They hired, sorry no not hired. 156 00:08:15,310 --> 00:08:20,070 They elected a non friendly, non crypto friendly president in the 157 00:08:20,070 --> 00:08:24,000 last week and they've brought in some pretty strong regulation 158 00:08:24,000 --> 00:08:26,880 against stablecoins or at least that would make making 159 00:08:26,880 --> 00:08:30,520 stablecoins pretty difficult. Obviously there is some context 160 00:08:30,520 --> 00:08:32,159 there that will happen with Lunar and all that sort of 161 00:08:32,159 --> 00:08:39,679 stuff, but it is maybe looking less friendly whereas the UAE to 162 00:08:39,679 --> 00:08:43,880 me, I mean you're there Mika. It feels as though everyone from 163 00:08:43,880 --> 00:08:47,930 crypto is moving there. Yeah, I mean, it just makes 164 00:08:47,930 --> 00:08:50,850 sense. Why, why wanna, you know, if 165 00:08:50,850 --> 00:08:53,850 you're working in Web Three, why I feel like kind of like, I 166 00:08:53,850 --> 00:08:56,690 don't know, like a criminal. I feel like in North America you 167 00:08:56,690 --> 00:08:59,610 just feel like I'm doing something I shouldn't be doing 168 00:08:59,610 --> 00:09:02,050 when at the end of the day this, all of these tools and 169 00:09:02,050 --> 00:09:03,890 technology is the next phase of the Internet. 170 00:09:03,890 --> 00:09:07,530 So it feels good in the UAE knowing that the government 171 00:09:07,530 --> 00:09:10,970 supports you. There are people that see this. 172 00:09:11,550 --> 00:09:13,790 As it is, which is an opportunity. 173 00:09:13,790 --> 00:09:18,070 So yeah, definitely makes sense why people are are going there, 174 00:09:18,270 --> 00:09:20,950 why I went there for example, right. 175 00:09:20,950 --> 00:09:23,830 Like you just it's so weird about about this industry which 176 00:09:23,830 --> 00:09:26,390 is just a tech industry that people feel like they're 177 00:09:26,390 --> 00:09:28,110 criminals just for like being part of it. 178 00:09:28,510 --> 00:09:30,630 There is some obviously some criminal behavior going on, but 179 00:09:30,670 --> 00:09:31,990 as there isn't many, many. Different, yeah. 180 00:09:31,990 --> 00:09:33,750 But it's like that. It's like that everywhere. 181 00:09:33,750 --> 00:09:35,870 It's so it's so really, you know, it's silly. 182 00:09:35,870 --> 00:09:38,510 It's a little. There's obviously things it's 183 00:09:38,510 --> 00:09:39,590 not. It's not silly. 184 00:09:39,590 --> 00:09:43,710 There's things that are. To be under covered like to 185 00:09:43,830 --> 00:09:46,510 uncover. So you know that's what we do I 186 00:09:46,510 --> 00:09:48,550 guess on the show when we're talking about these things. 187 00:09:48,550 --> 00:09:51,390 I think we go deeper into like what's really going on and then 188 00:09:51,390 --> 00:09:54,430 you you hear about all the World News and then you're like, this 189 00:09:54,430 --> 00:09:56,150 makes sense why this is like this so? 190 00:09:56,570 --> 00:09:59,330 I think education is key, which is why I'm taking my notes from 191 00:09:59,330 --> 00:10:01,170 the Mando minutes. Meet the minutes. 192 00:10:01,250 --> 00:10:03,610 My God. So that's the aim. 193 00:10:03,610 --> 00:10:06,290 We're trying to peel back the layers of what the fuck's going 194 00:10:06,290 --> 00:10:08,650 on here. But yeah, I thought that was an 195 00:10:08,650 --> 00:10:10,610 interesting headline. People pointed to that as one of 196 00:10:10,610 --> 00:10:12,490 the reasons why we didn't continue the rally. 197 00:10:12,490 --> 00:10:15,970 Like people were saying that this is bad for D5. 198 00:10:16,410 --> 00:10:20,570 Any D5 protocols that have operations in the US could get 199 00:10:21,000 --> 00:10:24,440 could get attacked. This does involve in particular 200 00:10:24,440 --> 00:10:26,720 the like derivative exchanges which have been pretty big 201 00:10:26,720 --> 00:10:33,640 recently, things like dydx, GMX, but but this could extend into 202 00:10:33,640 --> 00:10:36,480 other things. It does feel like, yeah, I don't 203 00:10:36,480 --> 00:10:39,080 want to be labeled a criminal. I do not want to be based in the 204 00:10:39,160 --> 00:10:43,400 US for most of that reasons. I think the other side of this 205 00:10:43,400 --> 00:10:46,440 is that you can see the Crowdfire guys being going to 206 00:10:46,440 --> 00:10:49,840 the ACFCC being like, look, if we're not going to compete with 207 00:10:49,840 --> 00:10:52,320 a bunch of unregulated guys, like they need to, everyone 208 00:10:52,320 --> 00:10:53,520 needs to be playing by the same rules. 209 00:10:53,520 --> 00:10:57,320 If they're going to come in and stop offering derivatives in a 210 00:10:57,320 --> 00:11:00,040 big way, I if I was them, I'd be going to the regulator being 211 00:11:00,040 --> 00:11:02,800 like, look, we play by the rules, these guys should as 212 00:11:02,800 --> 00:11:04,400 well. That's what it felt like to me. 213 00:11:05,120 --> 00:11:08,400 Yeah, right. The second thing I think we we, 214 00:11:08,400 --> 00:11:14,080 we would go into is Solana. A lot of people have Solana bags 215 00:11:14,080 --> 00:11:16,480 in the space, obviously Solana big NFT ecosystem. 216 00:11:16,760 --> 00:11:21,760 Interestingly the Solana ecosystem is moving, has been 217 00:11:21,760 --> 00:11:25,680 moving more toward Open AI and this is God, this keeps going 218 00:11:26,080 --> 00:11:30,200 more towards a Solana phone. Recently, I know you guys have 219 00:11:30,200 --> 00:11:33,410 seen this, but they brought out a phone which is meant to to 220 00:11:33,410 --> 00:11:41,970 kind of prioritize security firstly, and Marcus Marcus Brown 221 00:11:42,370 --> 00:11:45,930 Brownlee, who's like a very famous tech reviewer. 222 00:11:47,210 --> 00:11:52,290 Wow, 17.4 million subscribers did a review of the Salon phone. 223 00:11:52,290 --> 00:11:54,730 I won't go into like what's put on the background, you can come 224 00:11:54,730 --> 00:11:57,650 and see, but basically just said it was terrible. 225 00:11:58,090 --> 00:12:00,130 I don't think you've listed the whole thing, but it was. 226 00:12:01,390 --> 00:12:05,070 He just said that the, like, the operating system wasn't great. 227 00:12:05,070 --> 00:12:08,070 The only, the only interesting thing thought was about the 228 00:12:08,070 --> 00:12:10,550 cable that they used to connect it, some sort of special cable 229 00:12:10,550 --> 00:12:13,830 that stops some form of phone jacking that could take place if 230 00:12:13,830 --> 00:12:15,670 you charge your phone in public places. 231 00:12:17,150 --> 00:12:19,510 But I didn't think it looked that bad to me. 232 00:12:19,510 --> 00:12:21,830 I don't understand why his reaction was so progressive, but 233 00:12:21,830 --> 00:12:23,030 he does. I mean, you watched his 234 00:12:23,030 --> 00:12:25,190 interviews quite a lot, like you watched his stuff quite a lot 235 00:12:25,190 --> 00:12:28,430 that you got it. Like he does go into Usha of why 236 00:12:28,430 --> 00:12:31,450 something is better than another thing and he has a really 237 00:12:31,450 --> 00:12:33,290 detailed knowledge of all the different products in the 238 00:12:33,290 --> 00:12:34,850 market. So I look at this and think 239 00:12:35,010 --> 00:12:37,930 that's quite a cool phone. Like, I don't know, looks like. 240 00:12:38,090 --> 00:12:39,410 You're not a tech guy. You're not. 241 00:12:39,410 --> 00:12:44,970 You have no understanding or interest in tech I think does 242 00:12:44,970 --> 00:12:47,690 not consumer products. Tech consumer products to this 243 00:12:47,730 --> 00:12:52,010 level, right This is. The thing is, I think his point 244 00:12:52,010 --> 00:12:53,730 is that it's like too expensive for what it is. 245 00:12:53,730 --> 00:12:56,090 It's like a basic, a very very basic. 246 00:12:56,810 --> 00:13:00,170 Android phone which should cost like 200 bucks but it costs like 247 00:13:00,770 --> 00:13:03,010 it did cost 1000 and now it costs 600. 248 00:13:03,810 --> 00:13:07,530 And then the only crypto things about it are like the seed vault 249 00:13:07,530 --> 00:13:11,130 where you can store yourself on a seed phase adapt store which I 250 00:13:11,130 --> 00:13:14,970 think a lot of other phones are trying to integrate and then 251 00:13:14,970 --> 00:13:18,770 some other thing where it's like I couldn't get it. 252 00:13:18,770 --> 00:13:21,330 Also, I just don't know why people are releasing but like 253 00:13:21,330 --> 00:13:23,650 Samsung and Apple are going to dominate you whatever you do 254 00:13:23,650 --> 00:13:25,730 right? Like is a phone. 255 00:13:26,480 --> 00:13:31,560 There was a time when in the in last year when was like booming 256 00:13:31,560 --> 00:13:34,080 and everyone was so high, people were saying the next iteration 257 00:13:34,080 --> 00:13:36,920 of this is hardware. And that's I think why the team 258 00:13:36,920 --> 00:13:42,400 started working on this. And then and then nobody's left 259 00:13:42,400 --> 00:13:45,920 apart from us three and a couple of people in the chat and now 260 00:13:45,920 --> 00:13:49,560 there's a phone. I mean it's such a niche appeal, 261 00:13:49,560 --> 00:13:52,400 Solana as well and you could only use it with Solana. 262 00:13:52,400 --> 00:13:56,820 So you can't bridge to east or anything and the push back on 263 00:13:56,820 --> 00:14:01,260 that is that it's clear that the App Store run by Apple is not 264 00:14:01,260 --> 00:14:02,540 going to be that crypto friendly. 265 00:14:02,540 --> 00:14:07,580 It's going to put 30% charges on every single app purchase or 266 00:14:07,580 --> 00:14:09,660 transaction that happens. Which is why even with things 267 00:14:09,660 --> 00:14:12,100 like friend tech for example, and various different, they're 268 00:14:12,100 --> 00:14:14,820 doing like these, they're not doing App Store apps, they're 269 00:14:14,820 --> 00:14:19,260 doing like direct to your home screen, start apps, right. 270 00:14:19,260 --> 00:14:23,530 So they bypass all that App Store stuff and they feel as 271 00:14:23,530 --> 00:14:27,050 though that's a big thing. Like mobile is a huge, huge 272 00:14:27,050 --> 00:14:29,250 thing for adoption. And if the App Store is not 273 00:14:29,250 --> 00:14:32,930 going to be there doing it, Solana wants to do its own 274 00:14:32,930 --> 00:14:38,850 version of an App Store. Meta Mask I think, came out this 275 00:14:38,850 --> 00:14:41,290 week and said they were going to do their own version of an App 276 00:14:41,290 --> 00:14:43,450 Store as well, Multichain, including Solana. 277 00:14:43,890 --> 00:14:47,530 So maybe we see something like you open up your meta mask app 278 00:14:47,530 --> 00:14:49,970 on your phone and that has its own App Store. 279 00:14:50,170 --> 00:14:53,260 But I still think Apple would comfort, like I still think 280 00:14:53,260 --> 00:14:55,140 Apple's going to get in the way of that sort of stuff. 281 00:14:55,140 --> 00:14:57,780 So I, I don't know there's been other people that have 282 00:14:57,780 --> 00:14:59,660 considered doing a phone. I think I think a lot of people 283 00:14:59,700 --> 00:15:01,100 thought Ledger would come out of the phone. 284 00:15:01,100 --> 00:15:03,740 They they they released, they're big in hardware, right? 285 00:15:03,740 --> 00:15:05,540 They they've got that stacked product coming out. 286 00:15:05,900 --> 00:15:07,660 There's been talk about them doing phone for a long, long 287 00:15:07,660 --> 00:15:10,980 time. I on boarding is so tough. 288 00:15:11,420 --> 00:15:14,060 It's so tough. It's so cumbersome and if 289 00:15:14,140 --> 00:15:17,020 Apple's going to make it even more difficult and maybe we do 290 00:15:17,020 --> 00:15:19,700 need some hardware, but I agree it's not the market to release 291 00:15:19,700 --> 00:15:20,860 it. No one wants this right now. 292 00:15:22,080 --> 00:15:25,960 What do you think? I think that the hardware that 293 00:15:25,960 --> 00:15:30,800 is going to progress this industry is actually the Apple's 294 00:15:30,800 --> 00:15:34,480 Reality Pro, like the XR headset, because that's going to 295 00:15:34,480 --> 00:15:38,080 make all of these digital collectibles and art pretty much 296 00:15:38,080 --> 00:15:40,600 like, relevant. Like why look at your Open C 297 00:15:40,760 --> 00:15:44,120 collection on, you know, your Apple MacBook? 298 00:15:44,120 --> 00:15:48,240 Like that's the hardware. Why not use the XR headset and 299 00:15:48,240 --> 00:15:51,800 then see it all around you like come to life, You know so. 300 00:15:52,080 --> 00:15:53,960 I think that that's going to be the hardware that's going to 301 00:15:53,960 --> 00:15:57,560 change the game. But what's interesting is that 302 00:15:57,560 --> 00:16:00,080 you are right that the app, Apple App Store at the end of 303 00:16:00,080 --> 00:16:04,080 the day, like it's not so quote UN quote Web 3 friendly. 304 00:16:04,080 --> 00:16:07,480 So maybe that's like the real purpose of a phone. 305 00:16:07,480 --> 00:16:13,040 And if you want those, you know that the the Web 3 apps, then 306 00:16:13,040 --> 00:16:14,800 you might just need the salon on the phone. 307 00:16:14,800 --> 00:16:18,440 But I actually saw this video and I was like, I don't want to 308 00:16:18,440 --> 00:16:20,000 play it because I just don't want bad news. 309 00:16:21,160 --> 00:16:23,960 But I'm going to watch it later. Yeah. 310 00:16:24,080 --> 00:16:25,680 I don't think Solana really cared about it. 311 00:16:25,720 --> 00:16:29,160 I think the price of Solana seemingly is like unchanged 312 00:16:29,800 --> 00:16:32,160 since it came out. And I don't think people had 313 00:16:32,160 --> 00:16:33,480 high hopes for this phone beforehand. 314 00:16:33,480 --> 00:16:36,240 They cut the price recently and everyone was like, none of these 315 00:16:36,240 --> 00:16:37,520 are selling. It's pretty obvious. 316 00:16:38,960 --> 00:16:42,400 So I don't think people were like waiting on bated breath 317 00:16:42,400 --> 00:16:44,640 this to be a massive success for people. 318 00:16:44,640 --> 00:16:47,600 So it is what it is. I don't think the Solana phone 319 00:16:47,600 --> 00:16:49,480 is going to be like a game changer. 320 00:16:50,670 --> 00:16:53,870 I this is the first time I've met heard it really mentioned on 321 00:16:53,870 --> 00:16:58,830 the timeline for a while like let's say weeks so it doesn't 322 00:16:58,830 --> 00:16:59,750 feel. Months. 323 00:16:59,750 --> 00:17:03,750 Maybe even it was NSCMSC when people were talking about it. 324 00:17:03,750 --> 00:17:05,310 Was that right? Yeah. 325 00:17:05,390 --> 00:17:07,230 But it got some air time when they cut the price. 326 00:17:07,670 --> 00:17:11,990 But then again, I think that again, it didn't make it feel as 327 00:17:11,990 --> 00:17:16,349 though it's going really well. So I think, I think people are 328 00:17:16,430 --> 00:17:19,480 probably going to sunset that eventually and also this was 329 00:17:20,040 --> 00:17:22,440 this was made with had a huge budget right. 330 00:17:22,440 --> 00:17:24,839 FTX is still going that's when they just like do all this stuff 331 00:17:26,680 --> 00:17:29,560 and I just don't feel like this is going to continue to get 332 00:17:30,200 --> 00:17:34,040 continue to get funding. But you know we'll see Hopefully 333 00:17:34,320 --> 00:17:38,080 Salon does come back strong talking about apps that are 334 00:17:38,080 --> 00:17:39,720 doing well. I don't know if you saw it today 335 00:17:39,720 --> 00:17:42,280 but friend tech again is going it's going pretty nuts. 336 00:17:44,320 --> 00:17:46,440 I only know this because I actually do use this site. 337 00:17:48,310 --> 00:17:49,950 What's your, what's your P&L so far? 338 00:17:50,030 --> 00:17:53,070 Give us some trading insights. I don't really trade this year 339 00:17:53,070 --> 00:18:00,190 about like having a an account. I feel like which people would 340 00:18:00,190 --> 00:18:02,630 buy shares in is that like I don't really want to be buying 341 00:18:02,630 --> 00:18:06,070 selling shares in my in friends and all I ever see on the 342 00:18:06,110 --> 00:18:09,710 timeline is like people get absolutely destroyed for. 343 00:18:09,790 --> 00:18:14,150 Oh, I have. I sold Laura Wolf for like $100. 344 00:18:14,150 --> 00:18:16,150 It was great. It was it was awesome. 345 00:18:16,230 --> 00:18:17,470 Yeah. No, sell your friend. 346 00:18:17,470 --> 00:18:20,150 No joke. I mean, I did just for fun cuz 347 00:18:20,150 --> 00:18:22,550 like, why not, You know, I just wanted to test it out. 348 00:18:22,550 --> 00:18:25,350 But I definitely did sell my friends. 349 00:18:25,350 --> 00:18:27,590 It was very funny. I've kicked people out of group 350 00:18:27,590 --> 00:18:28,550 chat. No, I'm joking. 351 00:18:29,550 --> 00:18:33,990 But I think the only issue with me with Friend Tech is that I 352 00:18:33,990 --> 00:18:36,990 wanted to see what it was like, like the process of, you know, 353 00:18:36,990 --> 00:18:39,870 pulling out money, putting in money, putting in money wasn't 354 00:18:39,870 --> 00:18:41,390 an issue, is actually pretty quick. 355 00:18:41,590 --> 00:18:46,670 But taking out your money from Friend Tech, it's like, I still, 356 00:18:46,870 --> 00:18:49,870 I think it takes like the way that I did it with base and 357 00:18:49,870 --> 00:18:52,470 everything, like bridging. I don't know, it said seven days 358 00:18:52,470 --> 00:18:54,550 or something and I still haven't seen it. 359 00:18:54,550 --> 00:18:59,030 So let's see. Oh yeah, I must. 360 00:19:00,150 --> 00:19:02,230 That's not a friend. Yeah, that's just A roll up. 361 00:19:02,710 --> 00:19:06,070 I think, yeah, that's just made the the bridge or something with 362 00:19:06,070 --> 00:19:08,790 with base, yeah, quicker bridges. 363 00:19:09,270 --> 00:19:12,350 Yeah, I just wish they would have told me that. 364 00:19:12,350 --> 00:19:15,030 It's going to take that long before using that because 365 00:19:15,030 --> 00:19:16,390 obviously I could have used a different bridge. 366 00:19:16,390 --> 00:19:21,310 So beware. Beware the optimistic roll up 367 00:19:21,310 --> 00:19:23,150 the name. Why it's called optimistic is 368 00:19:23,150 --> 00:19:26,090 because they are kind of essentially hoping that the 369 00:19:26,090 --> 00:19:28,970 transactions are right, but then they have this like 7 day period 370 00:19:28,970 --> 00:19:31,690 where they can double check and that's the reason why it takes 371 00:19:31,690 --> 00:19:33,050 seven days for you to get your money out. 372 00:19:34,450 --> 00:19:37,570 So if you did something bad on the chain, they have the seven 373 00:19:37,570 --> 00:19:40,050 days because they were optimistic of the star that they 374 00:19:40,050 --> 00:19:42,690 were right. That's basically where I guess 375 00:19:42,690 --> 00:19:45,210 that came from. So optimistic always means seven 376 00:19:45,210 --> 00:19:47,210 days out. They there was talk about them 377 00:19:47,210 --> 00:19:51,130 maybe reducing it to like if it was even to increasing it if one 378 00:19:51,130 --> 00:19:53,800 of the two. But that there will always be 379 00:19:53,800 --> 00:19:56,200 some sort of time delay when you try and get your money out of an 380 00:19:56,200 --> 00:20:00,720 optic rollup unless you do like one of the the other bridges 381 00:20:01,080 --> 00:20:03,040 which makes it a slightly quicker process but sometimes a 382 00:20:03,040 --> 00:20:06,400 little bit more costly. But yeah, it does feel like that 383 00:20:06,640 --> 00:20:11,080 that app is it's no longer only fans account, it does feel like 384 00:20:11,080 --> 00:20:14,080 it does feel mainly crypto people trying to farm this 385 00:20:14,080 --> 00:20:17,240 AirDrop. But it is still doing a crazy 386 00:20:17,240 --> 00:20:19,200 amount of. I mean the top accounts are 387 00:20:19,200 --> 00:20:21,950 worth like 5 E now. Like what's really happened is 388 00:20:21,950 --> 00:20:24,830 people are buying the top accounts because they think 389 00:20:24,830 --> 00:20:26,910 that's gonna be the main way to get the AirDrop. 390 00:20:27,630 --> 00:20:30,630 So it's got a very exponential curve. 391 00:20:30,750 --> 00:20:34,830 Like the top ones are really, really high now, but. 392 00:20:35,150 --> 00:20:39,230 I got scared because I was like on the top trending page like 393 00:20:39,230 --> 00:20:43,310 when they made like that trending page and my PFP was 394 00:20:43,310 --> 00:20:46,780 with like. Just a different industry, you 395 00:20:46,780 --> 00:20:50,260 know, And I I got a little worried because then I was like, 396 00:20:50,260 --> 00:20:54,180 Oh no, I don't really like for, you know, my brand and stuff. 397 00:20:54,180 --> 00:20:57,660 I don't want to be associated with like certain things. 398 00:20:57,660 --> 00:21:00,300 And then I saw I was on this like trending list and then I 399 00:21:00,300 --> 00:21:03,220 didn't want people to think like, oh, I was doing. 400 00:21:03,500 --> 00:21:05,620 You know what they were doing. I don't know what any of this 401 00:21:05,620 --> 00:21:07,420 means, but it sounds. You don't. 402 00:21:07,460 --> 00:21:10,780 I'm being cryptic, yeah. I'm on Fensack, but I don't know 403 00:21:10,780 --> 00:21:12,380 what Mika. You don't know what I'm talking 404 00:21:12,380 --> 00:21:13,220 about, OK? I don't know. 405 00:21:13,220 --> 00:21:17,260 I'm just like or like bought some sort of trending thing like 406 00:21:17,260 --> 00:21:19,500 you can buy trending things. I've seen that's what you're 407 00:21:19,500 --> 00:21:21,060 saying. There was just, I think 408 00:21:21,060 --> 00:21:27,100 everybody at the same time who was doing only fans like joined 409 00:21:27,100 --> 00:21:31,900 Friend Tech and then my PFP got caught in that. 410 00:21:32,290 --> 00:21:36,090 You know, genre of trending And then like some, like really 411 00:21:36,090 --> 00:21:39,490 popular like Twitter, the X person, like posted and then 412 00:21:39,490 --> 00:21:42,370 everyone was like, wait, you know Mika has this or like 413 00:21:42,370 --> 00:21:45,130 what's going on? And I'm just like, no. 414 00:21:45,130 --> 00:21:47,890 So then I got like, I'm like, hey, I don't want to be, I don't 415 00:21:47,890 --> 00:21:50,450 want to be like, I'm just scared because I don't want people to 416 00:21:50,450 --> 00:21:52,250 think like to get the wrong idea. 417 00:21:52,250 --> 00:21:55,610 So I kind of, like stopped like using it too much. 418 00:21:55,610 --> 00:21:57,930 And also there's so much controversy because it's like. 419 00:21:58,360 --> 00:22:01,680 You know, first I was excited because you have to use new tech 420 00:22:01,920 --> 00:22:03,960 in the Web 3 space. Like, no matter what you're 421 00:22:03,960 --> 00:22:07,920 doing, you need to try out new apps, new products, or else 422 00:22:07,920 --> 00:22:11,000 you're just kind of you're lost. You're you're, you know, years 423 00:22:11,000 --> 00:22:13,360 behind. So I tried it right away, like 424 00:22:13,360 --> 00:22:15,560 the first day and then saw Kobe using it. 425 00:22:15,560 --> 00:22:19,480 Everybody like in the industry who you know, I would like. 426 00:22:19,920 --> 00:22:22,880 Watch. And now it's kind of just like. 427 00:22:22,880 --> 00:22:25,040 I don't know, is it? Is it OK to use it? 428 00:22:25,040 --> 00:22:27,640 Mando, you're using it like so that's bad. 429 00:22:27,640 --> 00:22:29,200 That's my history of this sort of stuff, right? 430 00:22:29,440 --> 00:22:33,920 There's clearly been a few very, very publicly failed experiments 431 00:22:33,920 --> 00:22:35,280 where people have lost a lot of money. 432 00:22:37,600 --> 00:22:43,520 I think this is as successful as how the the accounts use it. 433 00:22:43,920 --> 00:22:46,400 And I actually think some of the accounts that came in, let's say 434 00:22:46,400 --> 00:22:49,400 the only fan style, there was a few like gamers who came in. 435 00:22:49,920 --> 00:22:51,480 We basically just used it to make a quick buck. 436 00:22:51,840 --> 00:22:57,040 I do think that increasingly I'm also seeing some value from what 437 00:22:57,040 --> 00:23:01,240 people are doing in there, like for example, KB M, but I'm going 438 00:23:01,440 --> 00:23:05,040 to put all of my levered trades in this chat. 439 00:23:05,560 --> 00:23:07,720 Now that essentially is like an alpha group. 440 00:23:07,960 --> 00:23:12,040 But people do pay for that stuff, like people do pay to be 441 00:23:12,040 --> 00:23:15,440 closer to top traders or top thought leaders in the space. 442 00:23:15,960 --> 00:23:19,580 So as long as it doesn't just become like what we just saw, we 443 00:23:19,580 --> 00:23:22,100 took about yesterday, it's like, right, I'm going to dump this 444 00:23:22,100 --> 00:23:24,620 coin on my followers as long as there's actual value being 445 00:23:24,620 --> 00:23:27,180 created. And I think you will see that. 446 00:23:27,460 --> 00:23:30,300 Like I do think the accounts that are doing that are 447 00:23:30,300 --> 00:23:34,180 naturally going closer to the top and the accounts that just 448 00:23:34,180 --> 00:23:37,300 used it on the back of their name and aren't really using it 449 00:23:37,300 --> 00:23:39,820 to provide any sort of utility aren't actually falling down. 450 00:23:39,820 --> 00:23:42,780 So I do think there is, you got to be careful because I think 451 00:23:42,780 --> 00:23:45,740 that as I said, I don't think you should be buying shares of 452 00:23:45,740 --> 00:23:48,860 people for speculation that like oh, he's famous, he'll go higher 453 00:23:49,380 --> 00:23:52,340 I think. But there is genuine like 454 00:23:53,060 --> 00:23:55,780 interactions that that can be done this way, which I think 455 00:23:56,300 --> 00:23:58,540 could be valuable to people and I can see why that will continue 456 00:23:58,540 --> 00:24:01,100 to be valuable to people. If KB M decides to make that his 457 00:24:02,060 --> 00:24:04,860 like alpha chat, then people will pay to be part of that 458 00:24:04,860 --> 00:24:06,780 chat. And the same with a lot of 459 00:24:06,780 --> 00:24:09,930 these, a lot of these top guys. So I think that's there is some 460 00:24:09,930 --> 00:24:11,490 value to it, but let's see what happens. 461 00:24:11,490 --> 00:24:14,330 I think for now, whenever I've mentioned like spoken in the 462 00:24:14,330 --> 00:24:17,450 chat, there's clearly a lot of people in there just farming the 463 00:24:17,450 --> 00:24:20,130 AirDrop right now. So I think you'll only really 464 00:24:20,130 --> 00:24:23,730 know how good this is after the AirDrop. 465 00:24:24,770 --> 00:24:26,930 Wait, what's the AirDrop? Like? 466 00:24:26,930 --> 00:24:29,450 What's happening with the AirDrop cows? 467 00:24:29,450 --> 00:24:31,930 Do you got a big AirDrop? What's going on? 468 00:24:32,770 --> 00:24:33,770 Who are you? Are you? 469 00:24:33,850 --> 00:24:36,290 I'm not a big you have a share of. 470 00:24:36,290 --> 00:24:37,880 What's your name? Wait, what's her name? 471 00:24:37,880 --> 00:24:39,840 Kathy Woods. Your love. 472 00:24:41,440 --> 00:24:42,680 Is that? Is it Kathy Woods? 473 00:24:43,280 --> 00:24:47,680 Wait, are you okay? But if Kathy Woods or Harry 474 00:24:47,680 --> 00:24:49,880 Potter was on friend tech, how much? 475 00:24:51,120 --> 00:24:53,360 How much would you just go all in? 476 00:24:53,400 --> 00:24:56,520 You have to choose who shared friend. 477 00:24:56,520 --> 00:24:59,480 Tech's interesting. I think the incentives are wrong 478 00:25:00,760 --> 00:25:03,140 like. But rather than a running 479 00:25:03,140 --> 00:25:06,180 payment to be a member of let's just say an alpha group, I pay 480 00:25:06,180 --> 00:25:09,580 you like $3 a month or 30 bucks a month or 300 bucks a month or 481 00:25:09,580 --> 00:25:12,180 whatever. Because I think your alpha is 482 00:25:12,180 --> 00:25:16,180 good if we're sports betting or whatever, whereas this one, it's 483 00:25:16,220 --> 00:25:19,500 all front loaded. So there's no incentive to like 484 00:25:19,500 --> 00:25:22,140 keep the alpha coming. And I find that very 485 00:25:22,140 --> 00:25:23,940 interesting. I also find it interesting that 486 00:25:24,620 --> 00:25:28,060 all of the numbers about like the great performance of this 487 00:25:28,060 --> 00:25:32,320 kind of protocol. Focused on TVL which is like 488 00:25:33,640 --> 00:25:35,880 that's just because the top accounts have gone up in price. 489 00:25:35,880 --> 00:25:38,800 I don't know if that's is that because users have increased, 490 00:25:39,360 --> 00:25:42,520 number of trades have been going up and prices have been going 491 00:25:42,520 --> 00:25:45,120 up, but those are the only two metrics that have been put out, 492 00:25:45,240 --> 00:25:49,280 which to me says that's true. Which to me that says users 493 00:25:49,920 --> 00:25:51,520 might not be going up at the same rate. 494 00:25:52,200 --> 00:25:56,080 So the first thing I would say against what you said is it, I 495 00:25:56,080 --> 00:25:59,610 agree with you mean like it's weird in that unique churn like 496 00:25:59,690 --> 00:26:02,650 you need like people to set, buy and sell shares to make money, 497 00:26:02,850 --> 00:26:05,930 but people you can't just buy a share without somebody selling 498 00:26:05,930 --> 00:26:07,730 it. So like, it's not. 499 00:26:07,730 --> 00:26:09,410 Yeah, yeah, yeah. You can do it that way. 500 00:26:09,450 --> 00:26:12,570 So like people have got hundreds of holders for example, and if 501 00:26:12,570 --> 00:26:16,010 the platform grows to thousands of users then it does it can 502 00:26:16,010 --> 00:26:19,090 naturally just grow to meet the new demand at the same time. 503 00:26:19,090 --> 00:26:22,650 So I think it's not totally front loaded, but I do see what 504 00:26:22,650 --> 00:26:25,250 your point is like. There is an incentive also to if 505 00:26:25,250 --> 00:26:27,370 no one set buys themselves your shares, like again, you don't 506 00:26:27,370 --> 00:26:32,490 really have the incentive to provide, yeah, two valid points. 507 00:26:32,490 --> 00:26:34,970 Again, nothing is perfect. I I think it would be 508 00:26:34,970 --> 00:26:37,050 interesting to see. I think they will tweak this 509 00:26:37,050 --> 00:26:38,690 with time. It's also very expensive to get 510 00:26:38,690 --> 00:26:42,410 in and out of shares. So again, without an AirDrop, I 511 00:26:42,410 --> 00:26:45,370 feel like people will be far less likely to to do this sort 512 00:26:45,370 --> 00:26:48,290 of stuff. But a centralized platform for 513 00:26:48,490 --> 00:26:51,370 for these sort of smaller groups I think I think can can be 514 00:26:51,370 --> 00:26:53,370 successful and there's a lot of hate for it. 515 00:26:53,450 --> 00:26:56,290 But I actually do think that if you're providing the right 516 00:26:56,290 --> 00:26:58,880 content, people will. People will pay for it. 517 00:27:21,760 --> 00:27:26,280 28,000 doesn't it is it is a lot of beef that they have. 518 00:27:01,480 --> 00:27:03,160 Yeah. Third thing we should talk about 519 00:27:03,160 --> 00:27:04,600 is the nouns fork. I don't know if you guys have 520 00:27:04,600 --> 00:27:06,600 seen this. I know, Kelly, you want to talk 521 00:27:06,600 --> 00:27:12,280 about it today, but nouns Dow, which is one of the biggest dows 522 00:27:12,440 --> 00:27:17,840 actually in dows, they've got thousands of beef. 523 00:27:17,840 --> 00:27:19,480 I believe it's gone to nouns down. 524 00:27:19,480 --> 00:27:21,240 See how much they have. You know it's. 525 00:27:26,880 --> 00:27:32,800 They are seemingly yeah let me share this tab. 30,000 eat 526 00:27:32,880 --> 00:27:36,160 nearly. There is a fork happening right 527 00:27:36,160 --> 00:27:42,480 now where which has been spoken about for a while but you can 528 00:27:42,480 --> 00:27:48,280 now basically rage quit the Dow and take treasury from that from 529 00:27:48,280 --> 00:27:52,480 that sale. I believe these nouns are 530 00:27:52,480 --> 00:27:57,180 trading at like 20 before this was announced and that has now 531 00:27:57,180 --> 00:28:01,060 changed to trading at like the fair value of the treasury. 532 00:28:01,060 --> 00:28:05,460 So they basically now just trade at where the treasury is every 533 00:28:05,460 --> 00:28:07,060 single day. So people are trading in them at 534 00:28:07,060 --> 00:28:11,860 like 3435 E There was a period where they traded at a premium. 535 00:28:12,540 --> 00:28:17,750 I think they traded as hard as like 100 E at one stage to where 536 00:28:17,750 --> 00:28:20,550 the treasury is now. They are basically just trading 537 00:28:20,630 --> 00:28:23,270 exactly in line with the where the treasury is and there's now 538 00:28:23,350 --> 00:28:25,590 a chance you to get out. So if you own announced out and 539 00:28:25,590 --> 00:28:28,190 you're not been happy with what's going on announced, you 540 00:28:28,190 --> 00:28:31,590 can also leave which is just an interesting move. 541 00:28:32,150 --> 00:28:33,070 I don't know if that's a. Good. 542 00:28:33,150 --> 00:28:35,870 Wait, what does that mean? What does that mean? 543 00:28:36,470 --> 00:28:41,270 You could just leave So Dows. All Dows really have a have a 544 00:28:41,710 --> 00:28:43,990 have a way to rage quit, it's called or. 545 00:28:43,990 --> 00:28:47,380 A lot of dows have this concept of a rage quit, which is you are 546 00:28:47,380 --> 00:28:51,500 able to leave the Dow with your percentage of the treasury. 547 00:28:52,220 --> 00:28:54,860 This is particularly common in like investment dows. 548 00:28:54,860 --> 00:28:59,140 Things like Flamingo, Dow or or various other ones like you can 549 00:28:59,140 --> 00:29:04,900 just leave with your cut. The treasury and nouns now have 550 00:29:04,900 --> 00:29:09,380 decided to do this. So basically a lot of people who 551 00:29:09,380 --> 00:29:12,340 own nouns or some people who own nouns, I don't even know. 552 00:29:12,340 --> 00:29:14,860 I'm not as cleared up with the community is, but there was 553 00:29:14,940 --> 00:29:19,470 definitely like after they closed down the discord, after 554 00:29:19,470 --> 00:29:22,390 they closed around some of the centralization aspects of it, 555 00:29:22,790 --> 00:29:25,750 people were like, well, this isn't really working like no 556 00:29:25,750 --> 00:29:28,230 one's. They weren't typically happy 557 00:29:28,230 --> 00:29:29,830 with what's being done with the funds. 558 00:29:30,230 --> 00:29:33,870 It became more like a charitable style vehicle I would say. 559 00:29:35,350 --> 00:29:42,150 And the prices of the nouns were trading at like 20 even though 560 00:29:42,150 --> 00:29:44,960 they were backed buy more than that in the treasury. 561 00:29:44,960 --> 00:29:47,360 Essentially the average back will be around 35. 562 00:29:47,960 --> 00:29:49,840 Now they're basically saying if you're not happy you can leave. 563 00:29:50,280 --> 00:29:53,880 So people are leaving and they're leaving and that's mean 564 00:29:53,880 --> 00:29:56,200 that the price of the nouns has gone back up to 35 because at 565 00:29:56,200 --> 00:29:58,880 any time you could leave for that that level. 566 00:29:58,880 --> 00:30:02,920 So the risk of being part of nouns is kind of tiny I think. 567 00:30:03,000 --> 00:30:06,040 I think in fact I don't know if you agree with this, but like 568 00:30:06,160 --> 00:30:10,880 they could now trade up to like 40 or 50 because the risk is 569 00:30:10,880 --> 00:30:13,300 very very low. Now to owning a nouns, cuz 570 00:30:13,300 --> 00:30:16,180 you're it's basically zero, right? 571 00:30:17,340 --> 00:30:17,020 Well, you can't. You can just leave at any. 572 00:30:19,820 --> 00:30:23,220 The fork needs, the fork needs 20%, right? 573 00:30:23,300 --> 00:30:26,020 This initial fork and then that forms another Dow and then you 574 00:30:26,020 --> 00:30:31,660 can grade that down. So like or if. 20% of people are 575 00:30:31,660 --> 00:30:33,180 not happy and they just want a new Dow. 576 00:30:33,180 --> 00:30:34,580 They don't even want to rage quit. 577 00:30:34,580 --> 00:30:35,820 Then they can fork it and then you. 578 00:30:35,820 --> 00:30:40,340 So you can have multiple noun dows doing slightly different 579 00:30:40,340 --> 00:30:42,980 things, some doing charitable stuff, some doing commercial 580 00:30:42,980 --> 00:30:46,420 stuff, some doing whatever cultural stuff. 581 00:30:46,420 --> 00:30:51,100 Which I think is interesting. It all stems from the fact I 582 00:30:51,100 --> 00:30:54,140 think it stems from two things. The 1st is that they have this 583 00:30:54,140 --> 00:30:56,460 massive treasury. The community votes on what to 584 00:30:56,460 --> 00:30:59,520 do with it. It leaves it open to essentially 585 00:30:59,520 --> 00:31:02,000 like some kind of malicious attack where somebody, somebody 586 00:31:02,000 --> 00:31:06,840 owns 51% of the nouns, but there is a centralized like founder or 587 00:31:06,840 --> 00:31:09,120 noun committee veto. So you can have a situation 588 00:31:09,120 --> 00:31:13,080 where I'm 51%. I always say the only proposals 589 00:31:13,080 --> 00:31:16,560 that get passed are ones where I pay myself the whole Treasury 590 00:31:16,560 --> 00:31:19,000 and the that just gets vetoed permanently. 591 00:31:19,000 --> 00:31:24,080 And then to send this so to the it's an equilibrium state, but 592 00:31:24,080 --> 00:31:27,660 it's just pointless. I think that was the original 593 00:31:27,660 --> 00:31:33,260 genesis for this mechanism, and personally I think it is. 594 00:31:35,340 --> 00:31:38,540 It's just admitting it's kind of failed in some way. 595 00:31:38,740 --> 00:31:41,780 Like you failed to establish collective vision, you failed to 596 00:31:42,380 --> 00:31:47,780 create a protocol or where that is stable and working towards a 597 00:31:47,780 --> 00:31:49,420 shared vision. And it's just a it's just a 598 00:31:49,420 --> 00:31:52,140 transfer of wealth. It's literally a transfer of 599 00:31:52,140 --> 00:31:55,340 East from people who bought their nouns for 100 E. 600 00:31:55,790 --> 00:31:58,070 The people who bought their nouns for like less than the 601 00:31:58,070 --> 00:32:02,430 current market value of the pro after Treasury. 602 00:32:02,670 --> 00:32:05,230 That's all it is. That's a very interesting point. 603 00:32:05,270 --> 00:32:08,070 It's a very, very. Like, it's kind of depressing. 604 00:32:08,150 --> 00:32:09,790 It's kind of depressing. It's literally. 605 00:32:10,550 --> 00:32:12,830 I'm like, yeah, I I was just listening. 606 00:32:12,830 --> 00:32:16,110 You're like you failed and I'm just like, OK, I've not even 607 00:32:16,110 --> 00:32:17,950 announced that. I hope it's not gonna be like 608 00:32:17,950 --> 00:32:19,150 that. I hope it's not gonna be like 609 00:32:19,150 --> 00:32:20,310 that. I hope you know you have a 610 00:32:20,310 --> 00:32:23,910 culture dial of a noun, like all these different dials which are 611 00:32:23,910 --> 00:32:26,320 furthering. Like mission of nouns. 612 00:32:26,320 --> 00:32:30,440 But it feels like if you have to rewrite your mission statement 613 00:32:30,440 --> 00:32:32,560 five different times, it feels like the initial mission 614 00:32:32,560 --> 00:32:34,200 statement may be a failure. I don't. 615 00:32:34,280 --> 00:32:35,480 I don't know. So I'm. 616 00:32:36,200 --> 00:32:39,400 Really got noun style? Go ahead, Kels. 617 00:32:40,480 --> 00:32:43,720 I don't know. It just feels like this is kind 618 00:32:43,720 --> 00:32:45,480 of what a lot of people felt like. 619 00:32:45,480 --> 00:32:46,920 They weren't really sure what it was meant to be. 620 00:32:46,920 --> 00:32:49,360 But everyone felt like, well with this amount of ease we can 621 00:32:49,360 --> 00:32:52,160 do a lot of cool things and they they did do quite a few cool 622 00:32:52,160 --> 00:32:54,120 things like they've sponsored a bunch of different stuff. 623 00:32:54,120 --> 00:32:57,750 And I think it's very key to very key to say like this isn't, 624 00:32:59,030 --> 00:33:02,710 this isn't necessarily like the failure for everyone like all 625 00:33:02,710 --> 00:33:08,750 they need is what, 167, they need 167 nouns, 20% of the Dow, 626 00:33:08,830 --> 00:33:13,870 only 20% of the Dow to to to form this like separation, which 627 00:33:13,870 --> 00:33:16,910 is quite a low level but maybe 20% of people don't think it's 628 00:33:16,910 --> 00:33:19,390 gone right. The other the other 80% might be 629 00:33:19,390 --> 00:33:21,070 happy with what's what's been going on. 630 00:33:21,620 --> 00:33:23,500 But like, if you're gonna, if you're looking in the worst 631 00:33:23,500 --> 00:33:27,060 possible light, yeah, it's kind of it's kind of bad that like 632 00:33:28,380 --> 00:33:31,540 this DAO just decided that they just, you know, it's not really 633 00:33:31,540 --> 00:33:35,460 working. Company successful companies 634 00:33:35,460 --> 00:33:40,940 don't just dissolve and disperse 100% of your pro router worth. 635 00:33:40,940 --> 00:33:44,660 That's I don't know, it's just funny, but it's a good design to 636 00:33:44,660 --> 00:33:46,700 prevent malicious attacks. But then the initial design 637 00:33:46,700 --> 00:33:53,310 wasn't right, so I don't know. I don't so could OK reel it back 638 00:33:53,310 --> 00:33:56,310 in one more time for old times sake for the explain it like I'm 639 00:33:56,310 --> 00:33:58,470 five situation. So let's say I bought a noun 640 00:33:58,470 --> 00:34:04,790 style for 28th. Now the fork is coming. 641 00:34:04,790 --> 00:34:07,510 Chat says one spoon. I don't know let's get to the 642 00:34:07,510 --> 00:34:12,550 fork. So 28th is this bullish bearish. 643 00:34:12,550 --> 00:34:14,630 Now this announcement like you could you could leave. 644 00:34:14,630 --> 00:34:16,510 What does that mean? Like how does it? 645 00:34:17,030 --> 00:34:18,870 What is happening now with my 20th? 646 00:34:19,620 --> 00:34:24,179 So I get my money back. Guaranteed 28th back if you had 647 00:34:24,179 --> 00:34:27,020 bought it for 28th. That's the question right now. 648 00:34:27,020 --> 00:34:30,659 You cannot buy a noun for 28th. They are now trading at 35 eve, 649 00:34:31,139 --> 00:34:33,900 so the trading. Let's say I bought it at 20 Eve. 650 00:34:34,500 --> 00:34:36,580 Yeah, so now you could technically be like, right? 651 00:34:37,020 --> 00:34:42,100 I can form this part of this 20% of people who want to leave, and 652 00:34:42,100 --> 00:34:45,179 when we leave, I'll get 35 Eve. For the 28th, I paid. 653 00:34:45,810 --> 00:34:48,570 The other thing is I don't think It's not like you burn your 654 00:34:48,570 --> 00:34:51,010 noun, right? You still are a noun, you just 655 00:34:51,010 --> 00:34:56,090 take the bit of the bit of. So This is why I. 656 00:34:56,610 --> 00:34:58,930 Think so. Do you make any profit or you 657 00:34:58,930 --> 00:35:01,130 just take that? Yeah, you make. 658 00:35:01,330 --> 00:35:03,970 I guess if you bought it at 20 Eve, you have a problem. 659 00:35:04,210 --> 00:35:07,610 You can make like 15 Eve profit here if you bought it at 100. 660 00:35:08,570 --> 00:35:10,650 There's no there's nothing for you to do unless you like, 661 00:35:10,650 --> 00:35:11,370 really. OK. 662 00:35:11,410 --> 00:35:12,810 So hold on. OK. 663 00:35:12,810 --> 00:35:14,450 OK. So you buy it at you bought, you 664 00:35:14,450 --> 00:35:18,610 bought it at 100 E right now they're trading at 35 E You get 665 00:35:18,610 --> 00:35:22,210 35 E back. Yeah, if you want to leave 666 00:35:22,770 --> 00:35:25,010 clear, people might want to do that, like before they were 667 00:35:25,010 --> 00:35:27,490 trading it for. There was no way they could get 668 00:35:27,490 --> 00:35:29,410 out. Now if you bought 100 E and you 669 00:35:29,410 --> 00:35:32,130 were annoyed with what's going on in the Dow, you can at least 670 00:35:32,130 --> 00:35:34,770 leave the 35 and people can be maybe happy with that. 671 00:35:34,770 --> 00:35:38,260 So I'm not saying maybe that question is that's a that's a 672 00:35:38,260 --> 00:35:41,580 sunk cost. We would say in in economics 101 673 00:35:42,060 --> 00:35:43,540 you wouldn't. That doesn't really matter what 674 00:35:43,540 --> 00:35:46,180 the future decision. But you might decide that you 675 00:35:46,180 --> 00:35:50,420 want to leave at 35, which I think is, which I think some 676 00:35:50,420 --> 00:35:54,420 people will do. But it's more for me, it's more 677 00:35:54,540 --> 00:35:59,300 sad because I think people had people just had big views for 678 00:35:59,300 --> 00:36:03,300 nouns and to see this and to see that that actually people just 679 00:36:03,300 --> 00:36:06,260 aren't happy with how it's being run it's it's sad and that 680 00:36:06,630 --> 00:36:09,350 that's gone that way because I think you know radius Dow like 681 00:36:09,350 --> 00:36:12,110 people trying to make dows work and if there are clearly some 682 00:36:12,790 --> 00:36:15,310 tragedy of the Commons issues with dows like people don't have 683 00:36:15,310 --> 00:36:20,310 shared incentives shared. I don't know outcomes from what 684 00:36:20,310 --> 00:36:22,630 happens within dows which are very, very difficult to 685 00:36:22,630 --> 00:36:24,670 overcome. Like that's again you can almost 686 00:36:24,670 --> 00:36:26,350 want to want difficult to overcome those other things. 687 00:36:26,350 --> 00:36:31,910 But I I also think it's kind of bullish that that a Dow can also 688 00:36:31,910 --> 00:36:35,070 decide to do this. I don't know like a lot of other 689 00:36:35,070 --> 00:36:38,310 Dows you can't exit like this or at least haven't gone this 690 00:36:38,310 --> 00:36:40,110 route. Like a lot of the big defy Dow 691 00:36:40,110 --> 00:36:41,510 for example, you can't just rage quit. 692 00:36:41,910 --> 00:36:48,590 So I think it's it's kind of good that the Dow has also been 693 00:36:49,190 --> 00:36:58,230 able to dissolve itself is that they are good not doing anything 694 00:36:58,350 --> 00:37:01,270 but also getting themselves out of a situation. 695 00:37:01,880 --> 00:37:04,880 Yeah, they're all aligned. In terms of realizing that it's 696 00:37:05,440 --> 00:37:09,760 gone wrong, that's the only alignment right? 697 00:37:09,760 --> 00:37:11,360 But. This is, I'm establishing 698 00:37:11,440 --> 00:37:15,680 consensus that it's not right. But yeah, you're right, that's 699 00:37:15,680 --> 00:37:19,560 consensus I guess. So if you can get out for 35 Es 700 00:37:19,800 --> 00:37:23,920 right now, or let's say this passes, you can get out for 35 701 00:37:23,920 --> 00:37:28,890 Es would surely a Dow could. Surely they could start training 702 00:37:28,890 --> 00:37:31,650 for like 40 or 45. It's like maybe you like the 703 00:37:31,650 --> 00:37:34,450 art, maybe you want to just like it's it's cool to have an ounce 704 00:37:34,650 --> 00:37:37,410 PFP that it's the same for half the other Pfp's out there. 705 00:37:37,410 --> 00:37:39,970 Like you don't think people would pay like for that extra 706 00:37:40,450 --> 00:37:42,970 value of like the PFP? Yeah. 707 00:37:43,370 --> 00:37:46,010 I mean, they were trading at 20 with no cash. 708 00:37:46,170 --> 00:37:49,530 Now they're trading at, they're trading at. 35 cash, yeah. 709 00:37:49,610 --> 00:37:50,010 Yeah. Yeah. 710 00:37:50,290 --> 00:37:54,360 I guess there's sometimes happen so I guess yes maybe maybe net 711 00:37:54,360 --> 00:37:55,920 net makes sense. Anyway I don't think there's a 712 00:37:55,920 --> 00:37:59,680 trade there but it's it's still interesting to see nouns 713 00:38:00,160 --> 00:38:04,120 seemingly is coming to not full end because I think people are 714 00:38:04,120 --> 00:38:06,640 still doing a lot there but it is interesting to go that route 715 00:38:07,120 --> 00:38:11,120 The the the final thing I think we were going to talk about 716 00:38:11,120 --> 00:38:15,000 today was in ship coins Matt Fury sold his Pepe. 717 00:38:15,000 --> 00:38:19,680 I don't know if you saw this, but like obviously Pepe the ship 718 00:38:19,680 --> 00:38:22,370 coin I'm involved in, a bunch of different people are involved in 719 00:38:23,610 --> 00:38:28,210 and it was gifted to him by the pond community. 720 00:38:28,210 --> 00:38:29,330 I don't know if you know that community. 721 00:38:29,330 --> 00:38:37,250 It's run by Pauly and they gave him $1,000,000 worth of Pepe and 722 00:38:37,250 --> 00:38:42,990 he has. He has gone on and sold it and 723 00:38:42,990 --> 00:38:44,350 serious hit. I'm just going to share this 724 00:38:44,350 --> 00:38:46,910 book on serious hate to talk about Matt Fury's and his Pepe 725 00:38:46,910 --> 00:38:48,750 as if that was a negative event. The person who created Pepe de 726 00:38:48,750 --> 00:38:51,390 Frog just a good life changing money off the crypto based on 727 00:38:51,390 --> 00:38:52,990 his work that's incredibles happy with him. 728 00:38:53,150 --> 00:38:54,830 So like there is two sides to us. 729 00:38:54,910 --> 00:38:59,350 He obviously sold it. I don't think, I don't think he 730 00:38:59,350 --> 00:39:01,030 was really involved in the start of it at all. 731 00:39:01,430 --> 00:39:05,310 Like I think he asked us several times on spaces like oh, you 732 00:39:05,310 --> 00:39:10,530 shouldn't do you want to be part of this or And he was like, no. 733 00:39:10,530 --> 00:39:12,450 Like I'm not gonna get involved. So when they sent it to him, I 734 00:39:12,450 --> 00:39:14,770 think it was just a gift and he seemed as monetized that gift. 735 00:39:14,770 --> 00:39:19,530 But Matt Furos obviously have a lot of stuff in the space and I 736 00:39:19,530 --> 00:39:22,130 think it's I'll get the transaction actually here, but 737 00:39:22,330 --> 00:39:23,970 he made. Wait, pause. 738 00:39:24,050 --> 00:39:32,050 Is Pepe a rug? Not all of this, but it is. 739 00:39:33,290 --> 00:39:34,890 A like has it rugged Like, is it? 740 00:39:34,890 --> 00:39:37,250 Is it like ever coming back or is it just like? 741 00:39:37,570 --> 00:39:38,730 Over it. It's always going back. 742 00:39:38,730 --> 00:39:39,570 Happy's the best. Best. 743 00:39:39,570 --> 00:39:40,450 It's always coming back. I'm. 744 00:39:42,450 --> 00:39:44,810 Really gonna be looking at here. I'm trying to find the 745 00:39:44,810 --> 00:39:45,850 transaction. I'm trying to find the 746 00:39:45,970 --> 00:39:47,770 transaction. Good. 747 00:39:48,890 --> 00:39:54,010 Someone asked me for it and I found it anyway. 748 00:39:54,010 --> 00:39:55,410 Yeah. What did you guys think of that? 749 00:39:58,050 --> 00:40:01,210 I mean, he's an artist. Like he probably needs the money 750 00:40:01,210 --> 00:40:03,830 more than. A lot of other people in crypto, 751 00:40:05,190 --> 00:40:08,110 although he's done a lot of drops now, right like as you 752 00:40:08,110 --> 00:40:11,070 said, a lot of NFT, he's got a lot of Nft's out there. 753 00:40:11,350 --> 00:40:14,710 But you know lifestyle creep, maybe as he's made more money 754 00:40:14,710 --> 00:40:18,030 his life's become more expensive and he just he needs the extra 755 00:40:18,030 --> 00:40:19,230 mil. Also, he's not. 756 00:40:20,270 --> 00:40:22,870 When people get gifted something and it's worth a million, what 757 00:40:22,870 --> 00:40:26,390 price did he get gifted to that? I think he got given it at a 758 00:40:26,390 --> 00:40:29,470 million and he seemingly walked away with around. 759 00:40:31,280 --> 00:40:37,520 Looks like about 600 grand. So like, he's probably looking 760 00:40:37,520 --> 00:40:40,240 at that thinking he's not a trader. 761 00:40:41,280 --> 00:40:43,320 He's not a trader. He's probably thinking, fuck 762 00:40:43,320 --> 00:40:45,800 this could you know, I haven't got the stomach for this to get 763 00:40:45,800 --> 00:40:50,200 to 0. Like maybe he is a trader, but I 764 00:40:50,200 --> 00:40:53,880 don't think that he is anyway. And yeah, my dad is lifestyle. 765 00:40:53,880 --> 00:40:55,800 Creep think lifestyle. He's. 766 00:40:56,080 --> 00:40:58,720 I think he's made millions like if I count up everything he's 767 00:40:58,720 --> 00:40:59,840 done. I think he dogs. 768 00:41:00,510 --> 00:41:03,830 Pegs, heads. I think it's in the millions. 769 00:41:03,830 --> 00:41:05,350 I mean, I think he should have been paid that amount. 770 00:41:05,350 --> 00:41:08,950 Like, Pepe's been a huge arguably he's the biggest artist 771 00:41:09,910 --> 00:41:12,470 of Internet culture for many, many, many, many years. 772 00:41:12,510 --> 00:41:15,630 Well, it's interesting. He seeded it. 773 00:41:15,630 --> 00:41:17,990 He seeded it. He seeded it, and he did the 774 00:41:17,990 --> 00:41:21,030 original. And he should make millions from 775 00:41:21,030 --> 00:41:22,270 that, there's no doubt about that. 776 00:41:22,510 --> 00:41:27,310 But if he just did it without the millions, literally 777 00:41:27,310 --> 00:41:31,400 millions, of people who have created their own bespoke Pepe 778 00:41:31,400 --> 00:41:37,720 image, it would just be an unknown cartoon comic strip like 779 00:41:37,720 --> 00:41:39,320 it was. It wasn't propagated. 780 00:41:39,320 --> 00:41:43,360 By are you saying this individual should make millions 781 00:41:43,360 --> 00:41:47,080 of dollars for making the Pepe 100%? 782 00:41:47,360 --> 00:41:52,720 Probably billions, but he's not responsible for the propagation 783 00:41:52,880 --> 00:41:55,440 of me. We are all responsible. 784 00:41:55,440 --> 00:41:57,480 Is this COPE OK? Could someone just. 785 00:41:58,110 --> 00:42:00,430 Because so much is OK. Listen, I need financial advice. 786 00:42:00,470 --> 00:42:02,830 It's not financial advice, but I need financial advice. 787 00:42:03,030 --> 00:42:05,590 So like what? Just what's happening for those 788 00:42:05,590 --> 00:42:09,710 that like have Pepe like do we just do we just chill like this? 789 00:42:10,310 --> 00:42:11,510 This is this is that's important. 790 00:42:11,510 --> 00:42:12,550 I just thought it was interesting. 791 00:42:12,670 --> 00:42:16,510 Like famously. I remember when was it 2021 792 00:42:17,110 --> 00:42:21,190 metallic. The creator of EVE, he got given 793 00:42:21,390 --> 00:42:25,950 billions of dollars worth of shit the token ship and he ended 794 00:42:25,950 --> 00:42:30,480 up donating it. To India and I think they killed 795 00:42:30,520 --> 00:42:32,000 like hundreds of 1,000,000 in the end. 796 00:42:32,080 --> 00:42:34,920 I think ship tanked after you then donated it, but like they 797 00:42:34,920 --> 00:42:37,240 made a lot of money. It was to do with India floods 798 00:42:37,240 --> 00:42:42,480 or some sort of India charity and that has parallels to this, 799 00:42:42,480 --> 00:42:48,960 like someone gifted, seemingly a creator, like a, I don't know, 800 00:42:48,960 --> 00:42:51,160 someone that they wanted to respect in the community. 801 00:42:52,060 --> 00:42:54,900 And then they went and sold it. Would you have sold it Cali? 802 00:42:55,100 --> 00:42:58,420 If someone gave you $1,000,000 worth of this, and it was, I 803 00:42:58,460 --> 00:43:00,620 wouldn't any coin. Would you have sold it? 804 00:43:03,260 --> 00:43:05,100 No. But you don't know what's going 805 00:43:05,100 --> 00:43:06,540 on as life. It could be lifestyle cream, it 806 00:43:06,540 --> 00:43:08,460 could be going through divorce, could want a bigger house, could 807 00:43:08,460 --> 00:43:11,060 want a Lambo. We've never been there in 808 00:43:11,060 --> 00:43:12,900 lifetime. I really hope you guys a good 809 00:43:12,900 --> 00:43:14,460 Lambo with this. Actually, that would be a really 810 00:43:14,460 --> 00:43:17,670 good art. It's like a green Lambo, yeah. 811 00:43:18,110 --> 00:43:22,310 So just like quick recap though is are the people behind Pepe 812 00:43:22,310 --> 00:43:26,110 cuz like the last I like really honestly life has been just 813 00:43:26,310 --> 00:43:30,670 hidden us with it and the last I saw was just like a post on X 814 00:43:30,670 --> 00:43:35,590 about like how like some devs stole whatever so did we uncover 815 00:43:35,590 --> 00:43:36,750 few. Weeks ago. 816 00:43:37,470 --> 00:43:40,630 The devs. The original devs behind Pepe I 817 00:43:40,630 --> 00:43:42,770 mean. It's a shit coin dev, so it's 818 00:43:42,770 --> 00:43:46,570 not like it's not like the devs of like a D5 protocol, but like 819 00:43:46,570 --> 00:43:49,370 they after they've announced the contract a few months later down 820 00:43:49,370 --> 00:43:53,370 the line, they then sold their coins, or at least some of them 821 00:43:53,370 --> 00:43:56,570 got stolen and then sold. So that wasn't a good look. 822 00:43:57,010 --> 00:44:00,170 It wasn't like a happy went down about. 823 00:44:00,170 --> 00:44:02,490 So it didn't. It didn't rug A. 824 00:44:03,170 --> 00:44:05,330 Rug. Because it's not like it's a 825 00:44:05,330 --> 00:44:07,010 mean point. You know what I mean? 826 00:44:07,010 --> 00:44:08,610 Like it's not. A cat rug. 827 00:44:08,850 --> 00:44:12,040 It's just it's not real. If they run away with your 828 00:44:12,040 --> 00:44:16,120 money, or if it's a if it's a if a italic decides to just get out 829 00:44:16,120 --> 00:44:19,040 of all of his Eve, you might be like, not great. 830 00:44:19,160 --> 00:44:21,320 Or if somebody sold, I mean what? 831 00:44:21,520 --> 00:44:24,600 We've had some examples of that recently, but yeah, it's it 832 00:44:24,600 --> 00:44:27,360 doesn't require utility. I was really looking at Pepe 833 00:44:27,360 --> 00:44:33,240 like the like like E. Yeah, well, hopefully, hopefully 834 00:44:33,240 --> 00:44:35,040 you won't because I think they're quite different, but 835 00:44:35,960 --> 00:44:36,720 otherwise. I was. 836 00:44:37,760 --> 00:44:40,720 Then I think we should end on some, on some. 837 00:44:41,290 --> 00:44:44,410 Being bulltards, I think there was something that came out 838 00:44:44,410 --> 00:44:51,450 yesterday which was a Mexican billionaire actually with who is 839 00:44:51,610 --> 00:44:58,970 the the star of of the crypto TV show that is today it's worth 14 840 00:44:58,970 --> 00:45:04,890 billion. I now opted. 841 00:45:06,490 --> 00:45:09,850 I basically. Do you love that laugh? 842 00:45:10,880 --> 00:45:16,960 A micro strategy. Four or five miners and some oil 843 00:45:16,960 --> 00:45:21,560 companies and some gold miners. That's it in the liquid part. 844 00:45:22,040 --> 00:45:26,440 So billionaires, billionaires getting into crypto, he thinks 845 00:45:26,440 --> 00:45:30,120 it's the he thinks it's we're gonna see crazy inflation of the 846 00:45:30,120 --> 00:45:32,680 next step. You should listen to this 847 00:45:32,680 --> 00:45:33,960 interview. It's actually such good. 848 00:45:34,710 --> 00:45:36,830 But what the guys worth 14 billion? 849 00:45:36,830 --> 00:45:39,590 He's basically put all of his liquid money into Bitcoin, 850 00:45:39,590 --> 00:45:45,870 Bitcoin related investments, goals, anything that has says 851 00:45:45,870 --> 00:45:50,310 host has muted your screen. You guys still hear me? 852 00:45:51,070 --> 00:45:51,990 Yep. Weird. 853 00:45:52,110 --> 00:45:53,950 Something just came up saying I've been muted. 854 00:45:54,230 --> 00:45:56,950 But yeah, just interesting to see billionaires getting into 855 00:45:56,950 --> 00:45:58,070 crypto. I think you're gonna see more 856 00:45:58,070 --> 00:45:59,590 and more of this. I'm surprised that we haven't 857 00:45:59,590 --> 00:46:02,990 seen more billionaires decide that they're gonna go into 858 00:46:03,190 --> 00:46:05,300 crypto. Like if you're a billionaire 859 00:46:05,300 --> 00:46:07,780 right now, Kelly. Like, do you not think this is 860 00:46:07,820 --> 00:46:13,180 what do you mean? You could hedge like it's a good 861 00:46:13,180 --> 00:46:16,260 hedge for being a billionaire. When you're a billionaire, all 862 00:46:16,260 --> 00:46:18,820 you care about is staying a billionaire, and Bitcoin is the 863 00:46:18,820 --> 00:46:21,500 biggest protector of that in an inflationary environment. 864 00:46:22,900 --> 00:46:28,860 Yeah, I would agree with that. If you run some form of debt 865 00:46:28,860 --> 00:46:32,700 fuels capitalist organization like. 866 00:46:33,180 --> 00:46:36,260 I just feel as though Bitcoin is, it should be a more obvious 867 00:46:36,260 --> 00:46:38,340 heads for a lot of these people. So I think you're gonna see more 868 00:46:38,340 --> 00:46:41,220 of this. I saw and I was like, this is 869 00:46:41,220 --> 00:46:43,740 exactly why I think it should be owning crypto. 870 00:46:43,740 --> 00:46:45,620 Decentralized money, decentralized value. 871 00:46:45,620 --> 00:46:47,660 And it got me bullish for the weekend. 872 00:46:48,260 --> 00:46:50,930 Nice. I think that's even more true if 873 00:46:50,930 --> 00:46:56,010 you live in like a country or a region where you know, inflation 874 00:46:56,010 --> 00:46:59,090 has historically been very rampant in like politics is 875 00:46:59,090 --> 00:47:01,250 unstable, who knows what's going to happen, et cetera, et cetera, 876 00:47:01,250 --> 00:47:04,250 et cetera. With Bitcoin, you're kind of 877 00:47:04,530 --> 00:47:08,570 insured against that a lot more than you are with your money on 878 00:47:08,570 --> 00:47:12,970 local banks or it's interesting. I'm always bullish on Bitcoin, 879 00:47:12,970 --> 00:47:16,250 just not the end state of it. They need to fix it. 880 00:47:16,370 --> 00:47:21,450 They need to fix it. OK, look, I think that was it 881 00:47:21,450 --> 00:47:24,170 for today's show again. Like, I thought it was a good 882 00:47:24,170 --> 00:47:26,650 show, good week. It's been great having you. 883 00:47:26,810 --> 00:47:28,850 Like I said, Farokh is not here next week. 884 00:47:29,050 --> 00:47:30,930 So you guys are both more than welcome. 885 00:47:31,090 --> 00:47:35,290 Like, come on, any day. OSF doesn't say a word, so it's 886 00:47:35,290 --> 00:47:38,890 basically just gonna be me. I don't know if I could do this. 887 00:47:39,130 --> 00:47:41,210 I'm taught. It's just like I got so much 888 00:47:41,250 --> 00:47:43,770 look at look at all these notes. I got all. 889 00:47:44,450 --> 00:47:50,210 Stuff that I'm like, I don't know, cows maybe, I don't know 890 00:47:50,210 --> 00:47:52,690 maybe. Well, me and cows are gonna do. 891 00:47:52,930 --> 00:47:55,970 We're gonna do rug tank. Yeah, we should do rug tank as 892 00:47:55,970 --> 00:47:56,330 well. Maybe. 893 00:47:56,530 --> 00:47:58,130 Maybe we should do that. We'll get some people off on 894 00:47:58,130 --> 00:47:59,810 stage, push us their worst crypto idea. 895 00:48:01,170 --> 00:48:03,570 I'm afraid of cows. He's like, I feel like he's 896 00:48:03,730 --> 00:48:06,530 like, when he was talking about the now, I was like, ooh, spicy 897 00:48:06,530 --> 00:48:08,410 take, like you're really just opening up. 898 00:48:08,410 --> 00:48:10,210 And now I'm just like, I don't know. 899 00:48:10,570 --> 00:48:12,610 Cows are gonna have like, crazy takes. 900 00:48:13,320 --> 00:48:15,600 Ali does have aggressive text. He just doesn't pop pop. 901 00:48:15,680 --> 00:48:18,400 In fact, before he's we, we ran himself the cows. 902 00:48:18,400 --> 00:48:20,640 He was a bit of a troll on on Twitter. 903 00:48:20,680 --> 00:48:21,760 That's not true. I love that. 904 00:48:22,920 --> 00:48:25,160 All all tweets now deleted so you won't be able to talk 905 00:48:25,240 --> 00:48:27,360 officially through. That's kind of Oh my God. 906 00:48:28,200 --> 00:48:32,120 OK, OK. Well, it was, it was super fun. 907 00:48:32,240 --> 00:48:34,960 I learned a lot from you guys, so thank you for having me. 908 00:48:34,960 --> 00:48:38,840 It was great and like always, the good way to start the day. 909 00:48:39,080 --> 00:48:42,380 Some some good stuff. Yeah, yeah, I love it. 910 00:48:42,500 --> 00:48:44,780 Thanks a lot. Thanks everyone in the audience 911 00:48:44,780 --> 00:48:47,740 for for tuning in for this week. We've obviously been sponsored 912 00:48:47,740 --> 00:48:51,100 by Kraken again. kraken.com for slash rug radio if you want to 913 00:48:51,100 --> 00:48:54,100 go check them out. It'll be me, Osef, hopefully 914 00:48:54,100 --> 00:48:57,340 Mika and Cows next week as well. Farrok said he's going to try 915 00:48:57,340 --> 00:49:01,380 and turn up maybe a couple of the early days depending on what 916 00:49:01,380 --> 00:49:02,660 what he's got going on in Singapore. 917 00:49:02,660 --> 00:49:05,500 But thanks so much for joining us and we will see you again 918 00:49:05,500 --> 00:49:06,620 next week.