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This is Epicentre episode 533 
with guest left Harris 

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Carpetzers of Rocky. 
Welcome to Epicentre, the show 

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which talks about the 
technologies, projects, and 

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00:00:24,040 --> 00:00:26,560
people driving decentralization 
and the blockchain revolution. 

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I'm Frederica Anne and today I'm
speaking with Left Harris, who 

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is a true crypto OG and the 
founder of Rodkey. 

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Rodkey is an open source tool 
for accounting and portfolio 

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tracking and management that 
focuses very much on privacy. 

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Before I chat with Lev Harris, 
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Hey, left Harris, it's good to 
have you on. 

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Hey hey Federici, nice to nice 
to be here. 

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We had you on incidentally for 
the first time on the 10 year 

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Epicenter episode because kind 
of we talked about kind of whom 

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would you we like to kind of 
have on who's the true OG, who's

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been here forever And your name 
was very much at the top of the 

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list and kind of we reached out 
to you and he said you're super 

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happy to come on, but it's a 
little bit weird because you've 

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never been been on before. 
So here we are to make up for 

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that left heart. 
You've you've been in this 

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ecosystem literally since since 
the very beginning. 

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Tell me about your background 
and how you first entered the 

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space. 
Yeah, so indeed I've been here 

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for quite a while. 
I entered the the crypto space 

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first, like by mining some 
Bitcoin back when it started, 

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but I lost it. 
Oh no. 

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Hard drive? 
Yeah, it's well, it happened. 

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And like for real though, I I I 
got interested when I was in 

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Berlin looking for a job because
I I had I had a job at Oracle 

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Game Behar, which is the the the
big American Oracle the the the 

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giant. 
And it was really boring and I 

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just wanted to do something fun.
And then I saw an ad by Gavin 

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Wood for the Berlin Etherium 
office that was just starting to

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work on on on this thing called 
Etherium and I was like OK that 

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sounds interesting, let's go. 
And so in 2014 I joined the F 

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Dev so the foundation's 
development army in Berlin, and 

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started working on what was it 
mostly. 

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Mostly on Solidity, basically 
because I was really interested 

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in compilers. 
I had even written one. 

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It's still in GitHub and of an 
early version of Rust. 

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But before Rust existed. 
Yeah, I started working on 

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Solidity and then later a bit on
the C++ client, which 

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unfortunately doesn't exist 
anymore. 

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And yeah, this is how I started 
the the trip into Ethereum. 

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And this was literally before, 
before the genesis block, right?

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So you started at the end of 
2014 and Ethereum went live like

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July of 2015, right? 
Yes, that is, that is correct. 

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What was it like back then? 
Because kind of if you kind of 

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look into the Ethereum space now
and I mean we we say this all 

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the time, it's still early and 
so on, but back then kind of it 

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was like literally very, very 
early. 

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How did you guys kind of see 
Ethereum and kind of how did you

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feel about the prospect and the 
chances of Ethereum making it? 

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Yeah, that's a good question. 
So I thought the game back in 

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the beginning, I was like 
literally thinking, it's just a 

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fun game, Let's see how it will 
work out. 

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We were playing in the test net 
and I remember like double spend

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bugs or suddenly money appearing
in some account and said that it

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wasn't just fun and games. 
I I didn't really realize the 

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scope of what we were building 
until maybe Devcon one because 

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that's when I actually saw the 
interest by outside people 

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because as you know so there was
in in like so I started like 

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either third or fourth quarter 
of 2014 and we have Con Zero in 

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November so Q 4/20/14 and that 
was in Berlin in the the very 

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first office that that was in 
van der Masjase and then there 

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were only 2530 people all just 
geeks were you on Ethereum And I

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was like OK this is like a meet 
up and it really was just like a

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meet up The only outsiders that 
I can remember was probably 

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Gollum some people from from the
Golden foundation well then it 

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was not a foundation with us you
know project and to this people 

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talking about how awesome a 
series and what what what what 

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we are doing. 
But other than that there was no

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it was very difficult to 
actually see how this would be 

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applied in in the real world 
later because there was no other

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developed smart contact platform
back back then as I said. 

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So this slowly started changing 
from the release and until 

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Defcon one, because you started 
people seeing you, you you start

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see people use it like deploy 
smart contracts, make first dabs

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and yeah that got really 
interesting slowly. 

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Yeah. 
So DEFCON one was then in London

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about 3/4 of a year or so later,
right? 

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Yeah, probably November again in
2016, yeah. 

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That was shortly after Ethereum 
had gone live in July. 

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And then kind of you, you stayed
at the Ethereum Foundation until

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the end of the year and then you
move to slock it and you only 

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you only spend like 8 months 
there or something. 

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But I mean, now we remember 
Slackett mostly for the Dow, 

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almost exclusively for the Dow. 
Tell me about what? 

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Why, why you decided to move 
over to Slackett and kind of 

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what the promise was. 
Well, I mean, so the reality 

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with with Slackett is that back 
in there was a lot of drama in 

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in the Film Foundation back in 
Defcon one because they were 

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running out of money. 
They had spent already too much 

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of the money that was raised and
the so Ethan wasn't doing that 

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well, or at least they were 
spending more than they had. 

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And so the F dev leadership 
basically decided at the moment 

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to just fire everybody. 
And so everybody was fired back 

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then. 
And this is how I ended up in in

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Slokit. 
I just was waiting for another 

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job for the firing. 
It got undone afterwards and 

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there was a change of leadership
and people actually ended up 

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staying. 
But I had already accepted an 

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offer to go to Slokid and and 
went there. 

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So what was slogid supposed to 
be? 

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So Christophe Yent, one of the 
three founders of Slokid, he was

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advertising in Devcon, even in 
Devcon one like this Ethereum 

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computer that will be this kind 
of hardware that we would build.

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And this is what I really liked,
the connection between hardware 

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and the software world where you
would have it in your in your 

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home and you could control 
various things via blocks and 

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transactions. 
And the the famous or infamous 

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thing right now that also gave 
it its name, the slow kit, it 

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was this smart lock, right. 
And they have this demo and we 

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we also saw it later in some 
other events where there is this

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lock that you do a transaction 
on mainnet even because it was a

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bit cheaper back then and the 
transaction gets mined and then 

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the Ethereum computer sees it 
and unlocks them. 

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The lock, the idea was you know 
you would do a Airbnb kind of 

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style of renting an apartment 
and it will all be on the block 

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scene and verifiable and all 
that. 

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And I got really interested in 
working on this Ethereum 

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computer because I'm still a 
bit, but back then I was a lot 

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more interested in in very low 
level back end, back end stuff. 

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So it was supposed to be eaten 
in C and all that. 

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But what they ended up getting 
famous for is how to fund this. 

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I think, which they announced 
also since devconwal, that they 

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will fund it through what they 
call the DAO. 

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And it's not like what they do 
right now, like everybody makes 

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a DAO that just airdrops people 
tokens and they have a 

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foundation somewhere in the 
Cayman Islands, and then they 

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have the lion's shade of the 
token. 

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It was a really pure and maybe 
naive idea that you would create

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this Dow that would be an 
investment vehicle that would 

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invest in many product, yeah, 
projects, products, including 

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the theme computer that Slogit 
would make. 

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But it will be completely up to 
anybody who participates in the 

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Dow. 
So everybody who who puts money 

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in, in order to decide if they 
would ever end up funding 

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slogit. 
So this fundraise was actually 

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incredibly successful, right? 
Basically back then, there 

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wasn't actually all that much 
you could do on Ethereum. 

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And so like 15% or so of all ETH
actually ended up in the Dow 

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sometime. 
I think kind of they started 

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their tokens there in April or 
so and then but by June the 

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contracts had been hacked and 
you were very much at the 

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forefront kind of when that 
happened, you and Griff and and 

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a couple of others, there's 
actually really good coverage of

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this and also kind of like the 
Theorem Foundation situation 

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that you alluded to earlier in 
Laura Shin's book. 

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I think kind of you were one of 
the main sources for that book. 

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Do you think it's it's accurate?
Yeah, yeah, it's very accurate. 

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At least for the stuff that I 
was that I was involved in, it 

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was very accurate for them. 
A theme foundation stuff in 

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Switzerland. 
I can't attest anything about 

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this because I I never went, 
actually never went to the Swiss

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office. 
Oh, OK. 

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But all the drama that affected 
Berlin and all that, yeah. 

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OK, so tell us about the hack. 
What happened and kind of how 

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how did it go down? 
Kind of like from from a first 

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person perspective. 
So there is a lot of background 

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to the hack like the problems 
that were found with them idea 

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of of the DAO that it could 
split to other sub Daos and you 

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could exit the DAO essentially 
by saying OK I want to you know 

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like they have now in Molok DAO 
the rates quit you can just quit

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00:13:23,600 --> 00:13:27,360
and take your portion of the 
fans that you put in into a sub 

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like a tile DAO I think they 
called it and there were lots of

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00:13:34,120 --> 00:13:37,480
game theoretic problems that 
some people suggested and they 

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00:13:37,480 --> 00:13:41,840
even had called the moratorium 
to the Dow so to stop it but you

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can't you could not pause the 
the the dao it there was no 

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admin key there was no pause 
button it was impossible to stop

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it. 
And so this fateful day I don't 

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remember exactly but somewhere 
in June in the morning I just 

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wake up to Griff's call telling 
me that the Dow is being drained

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and like what what what good 
morning And yeah. 

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So what ended up happening was 
that there was an exploit that 

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was found that was a recursive 
call inside this exit of the 

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down. 
Like like you take your fans and

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00:14:21,120 --> 00:14:26,720
go, but you could essentially 
drain the the entire, the entire

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00:14:26,720 --> 00:14:32,280
amount. 
And yeah, so it happened that it

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was being drained. 
We tried to understand what's 

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happening in the first hours. 
I think I managed to recreate it

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00:14:40,200 --> 00:14:43,800
in the test net, but at the same
time they stopped. 

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So whoever did this stopped for 
whatever reason, we don't know. 

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And they drained something like 
30% around I think of the down 

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and 70% was left. 
And then we were like wondering 

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what to do now because I had 
recreated on the test net and 

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had the contract to white hat 
hat kit. 

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But yeah, there were questions 
because was member of of slokid 

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back then. 
So should we do this as slokid, 

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do it as someone Anon? 
Should we not do it at all? 

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Is it legal? 
Is it OK? 

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And so we were really just not 
doing anything for the first 

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days and we're really scared 
about what with implications 

225
00:15:24,600 --> 00:15:28,600
was, What would that mean? 
Were you worried that someone 

226
00:15:28,600 --> 00:15:31,200
else would recreate this? 
So basically even if the kind of

227
00:15:31,200 --> 00:15:36,040
the initial hacker, I mean they 
got, they got 30% of the DAO 

228
00:15:36,240 --> 00:15:40,040
ETH. 
But in I mean basically it, it 

229
00:15:40,040 --> 00:15:42,720
was clear that there was an 
exploit and kind of there were 

230
00:15:43,120 --> 00:15:45,960
probably not all that many but 
probably on the order of like 10

231
00:15:45,960 --> 00:15:49,160
or 20 people who could have just
recreated this. 

232
00:15:50,320 --> 00:15:51,840
Yeah, yeah. 
So this is exactly what worried 

233
00:15:51,840 --> 00:15:54,800
us that copycats would 
eventually pop up, right? 

234
00:15:54,800 --> 00:15:59,280
It's, I mean once you see what 
happened, even if so I get it 

235
00:15:59,280 --> 00:16:02,000
fast because I, I, I I had also 
written part of the contract, 

236
00:16:02,000 --> 00:16:05,720
right. 
But if I took a few hours, 

237
00:16:05,720 --> 00:16:08,840
someone can do it in like double
the time or a day and it didn't 

238
00:16:08,840 --> 00:16:12,560
happen like a few days later 
there was the start of copycat 

239
00:16:12,560 --> 00:16:16,560
attacks and there was like two 
or three sub downs being created

240
00:16:16,560 --> 00:16:18,000
it. 
They were kind of sloppy because

241
00:16:18,000 --> 00:16:20,360
they probably didn't do 
something right and they were 

242
00:16:20,360 --> 00:16:23,360
they were starting draining very
small amounts because it really 

243
00:16:24,080 --> 00:16:26,440
it was such a funny exploit 
because it really depended on 

244
00:16:26,640 --> 00:16:29,120
how you write the contract. 
You have to be very careful to 

245
00:16:29,120 --> 00:16:31,360
put some parameters correctly 
and also how much. 

246
00:16:32,120 --> 00:16:35,840
So you needed a capital to run 
it because you essentially are 

247
00:16:35,840 --> 00:16:37,880
running capital through the Dow 
to drain. 

248
00:16:38,680 --> 00:16:42,760
So the more you put in the more 
you could take out. 

249
00:16:43,240 --> 00:16:46,880
So in the end that some like a 
don't remember how many days 

250
00:16:46,880 --> 00:16:51,560
later but not too much later we 
decided to to act and we 

251
00:16:51,560 --> 00:16:53,560
weren't. 
So nobody said who we were 

252
00:16:53,560 --> 00:16:58,680
except for. 
So AVSA agreed to be the the 

253
00:16:58,680 --> 00:17:03,080
face of of this of this white 
hat attack because he didn't 

254
00:17:03,080 --> 00:17:09,319
want and he was writing that to 
so AVSA Alex Vander Vandersund 

255
00:17:09,920 --> 00:17:12,359
that he didn't want people to 
think, OK, that's another Black 

256
00:17:12,359 --> 00:17:14,800
Hat. 
So I don't remember he wrote the

257
00:17:14,800 --> 00:17:17,480
Reddit post that the Dow is 
being safely drained or 

258
00:17:17,480 --> 00:17:22,440
something like this and people 
were saying what why should we 

259
00:17:22,440 --> 00:17:24,839
believe you? 
Who are you guys and and all 

260
00:17:24,839 --> 00:17:26,760
that. 
But we drained basically the 

261
00:17:26,760 --> 00:17:31,680
rest back then. 
And Alex back then was with the 

262
00:17:31,680 --> 00:17:34,880
Ethereum Foundation, right? 
I think so, yeah. 

263
00:17:35,560 --> 00:17:39,320
And he, I mean he later Co 
founded DNS, but yeah, so I 

264
00:17:39,320 --> 00:17:42,120
think he was at the ethereal 
foundation at the time and then 

265
00:17:42,120 --> 00:17:45,960
kind of the other people who 
were involved were Griff 

266
00:17:46,000 --> 00:17:50,240
obviously Christophe and his 
brother and Stefan Twil and 

267
00:17:50,360 --> 00:17:52,760
Jordy. 
So it it depends. 

268
00:17:52,760 --> 00:17:58,800
Like, like Stefan Twil, 
Christophe and Simon Yentz were 

269
00:17:58,800 --> 00:18:05,040
the three founders of of Slovid.
Jordy helped with the He didn't 

270
00:18:05,040 --> 00:18:07,440
help so much with the first 
white heart attack, but later 

271
00:18:07,440 --> 00:18:13,160
then she was a lot of work and 
he he basically helped a lot in 

272
00:18:13,160 --> 00:18:15,800
this. 
In the aftermath of there was 

273
00:18:15,800 --> 00:18:17,640
quite a few more stuff that I 
said afterwards. 

274
00:18:18,920 --> 00:18:22,920
Super cool. 
I recently found some some DAO 

275
00:18:22,960 --> 00:18:27,680
ease and I kind of I I hung on 
to it kind of just as kind of 

276
00:18:27,680 --> 00:18:30,840
like a reminder for for for old 
time's sake. 

277
00:18:31,760 --> 00:18:35,840
Yeah, without talking there. 
Kind of a collector's 

278
00:18:35,840 --> 00:18:38,840
collector's edition. 
Absolutely fantastic. 

279
00:18:39,040 --> 00:18:47,520
So in the kind of the entire 
drama actually led to the split 

280
00:18:48,440 --> 00:18:50,640
of Ethereum and Ethereum and 
Ethereum Classic. 

281
00:18:50,960 --> 00:18:52,880
What did you think about this at
the time? 

282
00:18:53,960 --> 00:19:02,680
Yeah, that's a hard question 
because I, I, I, I was much more

283
00:19:02,680 --> 00:19:06,400
in the camp of let's do the DAO 
wars and the soft fork and let's

284
00:19:06,400 --> 00:19:09,280
try to get it somehow through 
through counter hiking the 

285
00:19:09,280 --> 00:19:11,000
hacker, we had so many nice 
plans. 

286
00:19:11,000 --> 00:19:15,400
I even gave a talk about this in
what was it like Lenuid to hack 

287
00:19:15,400 --> 00:19:19,760
in Disneyland Paris in July. 
Like I, I, I, I, I had like this

288
00:19:19,760 --> 00:19:22,160
nice slice and all of them 
explaining what we can do 

289
00:19:22,160 --> 00:19:24,960
etcetera. 
But it turned out that the soft 

290
00:19:24,960 --> 00:19:30,920
fork was infeasible as an idea 
because you could we had the 

291
00:19:30,920 --> 00:19:33,680
idea of kind of making it so 
that all the miners agreed to 

292
00:19:34,320 --> 00:19:37,840
throw to the transactions that 
would be sent by the attacker. 

293
00:19:38,600 --> 00:19:41,360
Left Harris maybe let's let's 
kind of clear up the term soft 

294
00:19:41,360 --> 00:19:43,880
fork here so we we all know what
a hard fork is where kind of the

295
00:19:43,880 --> 00:19:49,240
network splits and in a software
a software for kind of like some

296
00:19:49,240 --> 00:19:52,440
transactions are censored right.
Exactly, exactly. 

297
00:19:52,440 --> 00:19:59,080
So then the idea was that there 
would be some kind of agreement 

298
00:19:59,080 --> 00:20:01,560
with with the majority of the 
miners to send some transactions

299
00:20:02,200 --> 00:20:05,920
that would be sent by the 
attacker and to favor ours. 

300
00:20:07,440 --> 00:20:10,920
But the problem with that is 
that it actually allows the 

301
00:20:10,960 --> 00:20:14,520
network to be D dosed. 
And there was one more problem 

302
00:20:14,520 --> 00:20:16,440
that I don't remember. 
And so it was infeasible as an 

303
00:20:16,440 --> 00:20:20,920
idea at the end and otherwise 
the Dow wars would just end up 

304
00:20:20,920 --> 00:20:24,120
in an infinite. 
Hiking and anti hiking thing, 

305
00:20:24,120 --> 00:20:27,840
allowing probably the the fans 
to never be recovered by the 

306
00:20:27,840 --> 00:20:31,760
guy, by by the attacker but also
by anybody else and it didn't 

307
00:20:31,760 --> 00:20:34,040
make sense. 
So it was either at the end to 

308
00:20:34,320 --> 00:20:40,280
accept the loss or to do the the
hard work that led to a film 

309
00:20:40,280 --> 00:20:43,920
classic. 
I assume if something similar 

310
00:20:43,920 --> 00:20:48,720
were to happen today, maybe the 
decision would would have been 

311
00:20:48,720 --> 00:20:53,560
made differently. 
But at the time, do you think 

312
00:20:53,760 --> 00:20:56,760
kind of with them the 2 
remaining choices left? 

313
00:20:56,760 --> 00:21:02,120
So kind of either kind of just 
giving up the funds or kind of 

314
00:21:02,880 --> 00:21:07,920
doing the hard fork, do you 
think the right choice was made?

315
00:21:09,320 --> 00:21:12,240
Looking at the aftermath, I hate
what happened for the next year 

316
00:21:12,240 --> 00:21:14,880
or years with the Ethereum 
Classic and how the community 

317
00:21:14,880 --> 00:21:19,120
split this was. 
It was pretty bad at the time. 

318
00:21:19,120 --> 00:21:21,320
I felt that probably we 
shouldn't do the hard fork 

319
00:21:21,320 --> 00:21:25,080
because from a completely 
personal point of view, I only 

320
00:21:25,080 --> 00:21:29,560
had, I don't know, 100 or 
$200.00 on inside the Dow and I 

321
00:21:29,600 --> 00:21:34,360
I could just lose it. 
But also from the point of view 

322
00:21:34,360 --> 00:21:38,800
where you know, you felt 
responsible, like I I felt 

323
00:21:38,800 --> 00:21:40,520
responsible. 
And probably also the others in 

324
00:21:40,520 --> 00:21:45,160
in in Slokit and in in in the 
team felt responsible for for 

325
00:21:45,160 --> 00:21:48,960
the loss of funds. 
It was a relief because then you

326
00:21:48,960 --> 00:21:52,120
wouldn't have to feel OK all 
these people lost money for us. 

327
00:21:52,360 --> 00:21:55,120
So I was really, I was really 
torn between those those two and

328
00:21:55,120 --> 00:21:59,600
I still am ideologically I 
didn't like it that is that is 

329
00:21:59,600 --> 00:22:04,200
that is that's quite true. 
I didn't like it but it kind of 

330
00:22:04,200 --> 00:22:07,960
also proved that it's not all 
about the code but it's also 

331
00:22:07,960 --> 00:22:09,800
about the social consensus of 
Ethereum. 

332
00:22:11,160 --> 00:22:13,480
If something like that happened 
right now, I have no idea what 

333
00:22:13,520 --> 00:22:15,720
would happen with. 
We are getting the question 

334
00:22:15,720 --> 00:22:21,160
right now, right if. 
Lido get if if Lido gets hacked 

335
00:22:21,160 --> 00:22:24,240
or something. 
Yeah, no, this thing that is 

336
00:22:24,240 --> 00:22:26,120
right now in Twitter about the 
minority bug. 

337
00:22:26,560 --> 00:22:29,360
Hey, sorry, majority. 
The Super majority client bug. 

338
00:22:29,640 --> 00:22:32,600
I mean that could burn more, not
15 but 25. 

339
00:22:32,600 --> 00:22:38,120
Right now Percent. 
No wait, 25 is staked and if 84%

340
00:22:38,120 --> 00:22:42,360
of the 25 is in gift, let's say 
that all of it would burn. 

341
00:22:42,360 --> 00:22:45,920
The worst case, it will be 20% 
of all ether. 

342
00:22:47,680 --> 00:22:52,280
What would happen in that case? 
Well, to be honest, I don't know

343
00:22:52,520 --> 00:22:57,880
like as you said there weren't 
too many applications back then.

344
00:22:58,400 --> 00:23:01,640
Right now there is so much and 
there is so much capital inside 

345
00:23:02,080 --> 00:23:06,920
the ecosystem to just burn 20% 
of the EFF. 

346
00:23:07,160 --> 00:23:13,080
That is also backing a lot of 
the LSDS and the DFI and what 

347
00:23:13,080 --> 00:23:17,920
that will do to the to the price
of it, I really don't know if 

348
00:23:17,920 --> 00:23:20,040
that it would be acceptable 
let's say. 

349
00:23:21,360 --> 00:23:23,280
Let's let's hope we don't find 
out. 

350
00:23:23,880 --> 00:23:26,560
Yes, yes. 
So basically one of my, my, my, 

351
00:23:26,560 --> 00:23:31,520
my main things when I see the 
current situation is like like 

352
00:23:31,640 --> 00:23:34,320
we should not even have to 
question this, we we shouldn't 

353
00:23:34,320 --> 00:23:37,360
be in a place where a bank can 
actually get us to that. 

354
00:23:38,040 --> 00:23:41,000
Yeah, absolutely. 
So you spend probably the 

355
00:23:41,000 --> 00:23:44,600
longest eight months of of your 
life at Slackett. 

356
00:23:45,000 --> 00:23:48,400
I'm sure you kind of aged like 
by ten years or something. 

357
00:23:49,320 --> 00:23:51,760
And then kind of just after the 
hack, you actually moved to 

358
00:23:51,760 --> 00:23:57,920
Brain Bot, which was a company. 
So basically at the time you 

359
00:23:57,920 --> 00:24:03,840
were working on Raiden which was
kind of posited as a payments 

360
00:24:03,840 --> 00:24:07,280
channel for for Etherium. 
So basically back then we kind 

361
00:24:07,280 --> 00:24:15,040
of distinguished between between
state channels and yeah, so 

362
00:24:15,040 --> 00:24:19,000
basically, yeah, so basically it
was meant to address kind of the

363
00:24:19,000 --> 00:24:24,280
scaling slash interoperability 
space and Rainbow was very much 

364
00:24:24,280 --> 00:24:29,560
at the forefront of that, but 
then somehow completely missed 

365
00:24:29,560 --> 00:24:31,960
the boat later. 
So kind of when it actually took

366
00:24:31,960 --> 00:24:36,920
took off, tell us about your 
time at at Brainbot who were 

367
00:24:36,920 --> 00:24:38,720
hugely involved in the space. 
Right. 

368
00:24:38,720 --> 00:24:42,040
So basically you guys developed 
one of the clients there were 

369
00:24:42,040 --> 00:24:45,000
kind of you guys were kind of 
involved deeply with the Theorem

370
00:24:45,000 --> 00:24:46,680
Foundation. 
There were quite a number of 

371
00:24:47,680 --> 00:24:50,400
different projects you kind of 
did in house. 

372
00:24:51,720 --> 00:24:52,960
Yeah. 
So basically, tell us about your

373
00:24:52,960 --> 00:24:57,240
time there and where you think 
kind of it it went wrong and 

374
00:24:57,400 --> 00:24:59,120
ultimately failed. 
Yeah sure. 

375
00:24:59,640 --> 00:25:02,200
So one question. 
I didn't go to brainbot after 

376
00:25:02,200 --> 00:25:06,160
the hack. 
I the longest period that I 

377
00:25:06,160 --> 00:25:09,000
spent and the worst was 
basically from the hack until 

378
00:25:09,000 --> 00:25:13,800
September because that was the 
the really complicated stuff 

379
00:25:14,040 --> 00:25:18,840
where there were attacks in the 
DAO after the the the the hot 

380
00:25:18,840 --> 00:25:23,160
fork because someone put money 
in the DAO after the hot fork by

381
00:25:23,160 --> 00:25:25,520
mistake. 
And then the whole thing with 

382
00:25:25,720 --> 00:25:29,120
theorem Classic and the DAO was 
there because we were called to 

383
00:25:29,120 --> 00:25:33,600
help there because the the the 
hard work never happened and 

384
00:25:33,960 --> 00:25:36,680
that was basically the entire 
summer. 

385
00:25:36,840 --> 00:25:41,160
That's a very big story which 
you can read in Laura's Laura's 

386
00:25:41,160 --> 00:25:44,600
book. 
But after that indeed like in 

387
00:25:44,600 --> 00:25:50,800
September October I I joined 
brain board and I joined to help

388
00:25:50,800 --> 00:25:53,160
with building building Dryden 
basically. 

389
00:25:53,880 --> 00:25:58,720
So Ryden was as you said, the 
payments under solution, right? 

390
00:25:59,080 --> 00:26:02,720
So what, what is payment 
channels, if anybody knows 

391
00:26:02,720 --> 00:26:09,560
lightning, the lightning network
to Bitcoin is what riding is to 

392
00:26:09,560 --> 00:26:11,920
Ethereum. 
That is extremely simple that 

393
00:26:12,080 --> 00:26:14,480
you take stuff off chain and 
it's just for payment. 

394
00:26:14,480 --> 00:26:19,680
And you say like let's say I 
have a payment channel with with

395
00:26:19,680 --> 00:26:24,560
you Frederica and I just sent 
you, we deposit in this payment 

396
00:26:24,560 --> 00:26:27,480
channel which is a contractor, I
deposit 10 Neath, you deposit 10

397
00:26:27,480 --> 00:26:31,560
Neath and then we can send those
tennis to each other as much as 

398
00:26:31,560 --> 00:26:34,680
we want of chain and if ever 
there is a problem we just 

399
00:26:34,680 --> 00:26:36,840
settle it on chain. 
Yeah. 

400
00:26:36,840 --> 00:26:39,160
So basically you would actually 
have to sign each transaction. 

401
00:26:39,160 --> 00:26:40,560
We just wouldn't put it on 
chain. 

402
00:26:40,720 --> 00:26:43,000
And then basically if you kind 
of if you were to dupe me or 

403
00:26:43,000 --> 00:26:45,920
whatever, I could kind of prove 
this because I kind of had you 

404
00:26:45,920 --> 00:26:47,920
assigned transaction, right? 
Exactly. 

405
00:26:48,320 --> 00:26:51,520
And it's a network because it's 
not just between us two. 

406
00:26:51,640 --> 00:26:54,160
So this is what, a single 
payment salary and it's a 

407
00:26:54,160 --> 00:26:57,760
network because then you may 
have one with Martin and then 

408
00:26:57,760 --> 00:27:01,720
Martin has one with Christoph, 
let's say, and then I can send 

409
00:27:01,720 --> 00:27:03,960
directly to Christoph through 
all of your channel. 

410
00:27:04,800 --> 00:27:08,040
So we spent quite a bit of time 
developing. 

411
00:27:09,400 --> 00:27:14,200
Now why did it ultimately fail? 
I don't know. 

412
00:27:14,200 --> 00:27:15,640
I like that. 
I still like the idea of payment

413
00:27:15,640 --> 00:27:21,000
standards, but not as an entire 
network to to be used as an A2 

414
00:27:21,000 --> 00:27:22,800
solution. 
Like it's it's a different, it's

415
00:27:22,800 --> 00:27:25,640
a different thing. 
As we see now from the roll ups,

416
00:27:26,160 --> 00:27:31,080
you want the the fully VM 
experience to be scalable so you

417
00:27:31,080 --> 00:27:33,240
have the contracts, you have the
D5. 

418
00:27:33,320 --> 00:27:36,360
This would be only for token 
transfers from to summer. 

419
00:27:36,640 --> 00:27:42,080
One of the reasons was that 
Brainbot was probably a a very 

420
00:27:42,400 --> 00:27:48,640
development oriented company and
not at all user facing, so it 

421
00:27:48,640 --> 00:27:50,920
was mostly like some geeks just 
writing code. 

422
00:27:52,960 --> 00:27:56,720
So I I think that this had a lot
because there was no contact 

423
00:27:56,720 --> 00:28:01,600
with with the actual community. 
Another is that it's actually a 

424
00:28:01,600 --> 00:28:03,760
lot more complicated than it 
sounds to develop this. 

425
00:28:04,160 --> 00:28:11,280
There is so many edge cases and 
so many problems that it it 

426
00:28:11,320 --> 00:28:14,400
becomes very difficult to 
actually make this production 

427
00:28:14,400 --> 00:28:17,160
ready. 
I I remember our issues probably

428
00:28:17,160 --> 00:28:20,280
they're still open like half of 
them about every single edge 

429
00:28:20,280 --> 00:28:22,680
case that we hid or could think 
of. 

430
00:28:23,120 --> 00:28:26,400
And you know, like it's it's a 
very difficult technology to 

431
00:28:26,400 --> 00:28:29,400
actually to actually scale 
because of all these edge cases.

432
00:28:30,600 --> 00:28:33,480
But I mean you, you guys as a 
collective had thought so much 

433
00:28:33,480 --> 00:28:39,080
about kind of the constraints 
and what had to go into it and 

434
00:28:39,080 --> 00:28:43,320
kind of you were there for kind 
of like all of the talk about 

435
00:28:43,320 --> 00:28:46,720
plasma and scaling and so on. 
So in principle, kind of like 

436
00:28:46,720 --> 00:28:52,880
when the L2 revolution came, you
were in almost the ideal place 

437
00:28:52,880 --> 00:28:56,560
to kind of launch your own L2 
and kind of make it big. 

438
00:28:57,400 --> 00:28:59,000
Why do you think that didn't 
happen? 

439
00:29:00,960 --> 00:29:04,880
I can't answer this. 
I really don't know because so I

440
00:29:04,880 --> 00:29:06,840
wasn't in. 
So the problem with Brain Boot 

441
00:29:06,840 --> 00:29:10,840
is also that it wasn't, it was 
basically a top down 

442
00:29:10,840 --> 00:29:14,920
organization. 
So we had no say into what is 

443
00:29:14,920 --> 00:29:16,360
done. 
There was like the the 

444
00:29:16,360 --> 00:29:19,880
management decided and we I was 
just a developer there and we 

445
00:29:19,880 --> 00:29:22,440
just did what the management 
said. 

446
00:29:23,120 --> 00:29:28,600
I think that we missed the boat 
for as a project because it was 

447
00:29:28,600 --> 00:29:32,280
too slow to finish riding and 
then there was no pivot at all 

448
00:29:32,520 --> 00:29:36,600
even when stuff changed when it 
was obvious that there should be

449
00:29:36,640 --> 00:29:40,600
a St. one for example at the 
same time like we had the plasma

450
00:29:40,600 --> 00:29:44,240
as you said that popped up from 
the generic states analyst that 

451
00:29:44,240 --> 00:29:48,760
states analyst people which we 
also cooperated with had started

452
00:29:48,760 --> 00:29:51,200
went from states analyst to 
plasma and then later to 

453
00:29:52,480 --> 00:29:55,160
basically I think it's this very
big part of the same thing 

454
00:29:55,160 --> 00:29:56,760
that's evolved with optimism 
right now. 

455
00:29:57,640 --> 00:30:03,880
So they pivoted every time while
well, Brainbow just stayed on on

456
00:30:03,880 --> 00:30:07,560
right? 
And so for for this, I guess the

457
00:30:07,560 --> 00:30:10,200
lack of of of of pivoting is 
what killed it. 

458
00:30:12,280 --> 00:30:15,960
You then kind of moved on to 
kind of start Rot Key, which was

459
00:30:16,080 --> 00:30:18,760
your own baby. 
So as we said in the very 

460
00:30:18,760 --> 00:30:25,120
beginning kind of Rot Key is an 
accounting and portfolio 

461
00:30:25,120 --> 00:30:27,440
tracking and management 
software. 

462
00:30:27,440 --> 00:30:31,400
But why did you put? 
Why did you choose that niche 

463
00:30:32,080 --> 00:30:35,800
for for your own startup? 
Good question. 

464
00:30:36,200 --> 00:30:39,000
I don't like accounting. 
I hate it's. 

465
00:30:39,000 --> 00:30:40,920
I hate taxes. 
I hate accounting. 

466
00:30:40,920 --> 00:30:44,000
But I just needed to do them. 
So I didn't even want to make a 

467
00:30:44,000 --> 00:30:46,440
startup. 
I just wanted to do my taxes. 

468
00:30:48,240 --> 00:30:55,000
Well, that escalated. 
I, I, I never intended to start 

469
00:30:55,040 --> 00:30:59,600
a startup like it's just that I 
actually started this, as you 

470
00:30:59,600 --> 00:31:01,960
can see from the commits in 
2017. 

471
00:31:02,320 --> 00:31:07,160
So two years before I left 
riding, it just was a side 

472
00:31:07,160 --> 00:31:10,360
project helping me submit my 
taxes to the bonanza. 

473
00:31:10,480 --> 00:31:14,800
In the beginning it was just a 
command line interface. 

474
00:31:15,200 --> 00:31:20,240
And the question came in 2017 
when I first realized that we 

475
00:31:20,240 --> 00:31:22,960
have to actually, you know, 
submit taxes on all this stuff 

476
00:31:22,960 --> 00:31:27,560
back from 20/14/2015 etcetera. 
And I was thinking, so how can I

477
00:31:27,560 --> 00:31:28,840
do this? 
I had no idea. 

478
00:31:29,520 --> 00:31:33,480
And I think back then the only 
thing that was available was 

479
00:31:33,480 --> 00:31:36,680
Bitcoin dot tax and I go there, 
you know, Bitcoin dot tax, what 

480
00:31:36,680 --> 00:31:39,720
is it? 
OK, website, you know upload CSV

481
00:31:39,720 --> 00:31:42,440
or give me all of your addresses
and I'm like, wait, why should 

482
00:31:42,440 --> 00:31:44,920
they give you their addresses? 
Can't they just download 

483
00:31:44,920 --> 00:31:48,800
something and calculate it all 
locally and then send it to an 

484
00:31:48,800 --> 00:31:51,000
accountant or to the finance on 
directly? 

485
00:31:52,120 --> 00:31:56,560
And the lack of such a tool 
existing is what pushed me to 

486
00:31:56,560 --> 00:31:59,840
create broad case of command 
line interface basically in the 

487
00:31:59,840 --> 00:32:04,880
beginning to just, you know, 
locally calculate everything and

488
00:32:04,880 --> 00:32:08,360
not say it with I don't know 
someone else because then they 

489
00:32:08,360 --> 00:32:12,680
know you know it's. 
It's not like it's not like with

490
00:32:13,080 --> 00:32:16,840
with banks, with crypticity a 
lot more sensitive because you 

491
00:32:16,840 --> 00:32:20,200
are setting your transactions 
and with them your addresses. 

492
00:32:20,640 --> 00:32:24,760
So everything you have and 
because everything is so public,

493
00:32:24,840 --> 00:32:27,280
everything you will ever have in
crypto. 

494
00:32:27,520 --> 00:32:31,400
Unless you use Tornado or you go
through Kraken or Coinbase. 

495
00:32:31,840 --> 00:32:36,000
Because someone who actually 
really wants to follow you, they

496
00:32:36,000 --> 00:32:40,200
can just take all this and then 
just monitor what you are doing 

497
00:32:40,200 --> 00:32:43,520
like years later while you 
wanted to do your tax reporting.

498
00:32:43,520 --> 00:32:48,320
I don't know 2017 so that I 
consider it like extremely 

499
00:32:48,320 --> 00:32:50,760
sensitive data and I never 
wanted to say this so this is 

500
00:32:50,760 --> 00:32:53,720
how I started working on on on 
ROT key. 

501
00:32:55,600 --> 00:33:00,560
And there's now quite a suite of
kind of competitors, right. 

502
00:33:00,560 --> 00:33:05,080
So basically there's most, most 
of those you actually use by 

503
00:33:05,360 --> 00:33:12,200
still inputting your addresses 
in a centralized framework and 

504
00:33:12,200 --> 00:33:17,120
they kind of calculate things 
for you, but and you are 

505
00:33:17,120 --> 00:33:19,840
definitely sharing your data 
with them. 

506
00:33:21,360 --> 00:33:25,400
Do you think kind of the space 
has professionalized in terms of

507
00:33:25,680 --> 00:33:29,720
kind of like data security and 
data privacy or do you think 

508
00:33:29,720 --> 00:33:33,400
it's still as dire? 
It's it's it's a lot worse. 

509
00:33:33,400 --> 00:33:36,480
Like instead of having one way 
to suit yourself on the foot, 

510
00:33:36,480 --> 00:33:38,440
now there's a hundred ways to 
suit yourself on the foot. 

511
00:33:39,600 --> 00:33:44,680
It's it's it's really bad. 
I'm actually very sad that I so 

512
00:33:44,680 --> 00:33:47,920
I don't consider any of them 
actual competitors because they 

513
00:33:47,920 --> 00:33:50,720
nobody does what we do. 
I would also have a competitor 

514
00:33:50,920 --> 00:33:54,040
like a lot actually there is one
called Ghost Folio. 

515
00:33:54,160 --> 00:33:57,840
I think it was shown by one of 
our users to us. 

516
00:33:58,400 --> 00:34:03,080
I think it's more more UK 
focused or something something 

517
00:34:03,080 --> 00:34:05,000
like that. 
But there was one that had 

518
00:34:05,000 --> 00:34:07,760
exactly the same ideas but 
written in a different language 

519
00:34:07,760 --> 00:34:13,239
or something. 
And but they had basically 

520
00:34:13,239 --> 00:34:14,719
exactly the same problem and 
same idea. 

521
00:34:14,719 --> 00:34:18,400
And I if I could say at 
anybody's competitor, it will be

522
00:34:18,400 --> 00:34:20,440
someone who offers the same 
thing that we offer which is 

523
00:34:20,440 --> 00:34:23,000
basically privacy and keeping 
it, keeping it local. 

524
00:34:23,600 --> 00:34:25,960
Yeah. 
So I started like that, but I 

525
00:34:25,960 --> 00:34:29,199
never actually wanted to make a 
start up. 

526
00:34:29,199 --> 00:34:30,440
As I said, I don't know what 
happened. 

527
00:34:30,440 --> 00:34:36,440
It's just that after having to 
leave a brain boat, I just 

528
00:34:36,440 --> 00:34:39,360
thought, you know what? 
I so there were many problems. 

529
00:34:39,360 --> 00:34:42,120
I don't want to go into that. 
But after that I was like, I 

530
00:34:42,120 --> 00:34:44,159
would like to work for myself. 
So what do I have? 

531
00:34:44,159 --> 00:34:47,840
And I'm like, OK, I have roti 
and by then it had you know 

532
00:34:48,040 --> 00:34:54,360
quite a few like actual users 
and even paying users and I was 

533
00:34:54,360 --> 00:34:57,160
like wait, I have never made a 
startup so maybe I should try 

534
00:34:57,160 --> 00:35:02,320
that and just started it along 
with. 

535
00:35:03,360 --> 00:35:06,320
So even though he's not a Co 
founder, he was basically the 

536
00:35:06,320 --> 00:35:11,600
first dev cancel. 
So a friend of mine and quite a 

537
00:35:11,600 --> 00:35:15,040
good developer who is doing the 
front end in in. 

538
00:35:16,200 --> 00:35:17,800
I mean, he's not the only one 
doing the front end, but he's 

539
00:35:17,800 --> 00:35:20,960
the front end lead and lots of 
other stuff in in in rot key. 

540
00:35:22,320 --> 00:35:28,160
What are the main challenges 
behind running a tool like you 

541
00:35:28,160 --> 00:35:31,680
guys are? 
Wow, where can I start? 

542
00:35:32,560 --> 00:35:34,280
OK, there seem to be a lot of 
challenges. 

543
00:35:35,080 --> 00:35:36,880
Choose any choose anywhere you 
want. 

544
00:35:38,680 --> 00:35:43,800
Probably the biggest one would 
be the choice of being local and

545
00:35:43,800 --> 00:35:45,920
privacy. 
Preserving actually limits you a

546
00:35:45,920 --> 00:35:48,160
lot in the development 
processes. 

547
00:35:48,480 --> 00:35:53,320
So like while every other tool 
that offers similar solutions to

548
00:35:53,320 --> 00:35:56,680
to a user, they can just have a 
website right? 

549
00:35:57,000 --> 00:36:02,840
And then in the website they 
just roll out an update and then

550
00:36:02,840 --> 00:36:04,200
another update. 
You don't need to download 

551
00:36:04,200 --> 00:36:05,440
anything. 
You don't need to do anything, 

552
00:36:05,440 --> 00:36:09,080
you just auto update it. 
It is a problem both for our 

553
00:36:09,080 --> 00:36:11,480
users and for us. 
It's really really annoying that

554
00:36:11,640 --> 00:36:13,760
when you make a local 
application you have to create 

555
00:36:13,880 --> 00:36:15,880
binaries, people have to 
download them. 

556
00:36:16,240 --> 00:36:18,080
And it's not just that you have 
to create binaries, you have to 

557
00:36:18,080 --> 00:36:20,440
create binaries for Windows. 
You have to create binaries for 

558
00:36:20,720 --> 00:36:25,960
Linux for many different distros
then for Apple macro SX stuff. 

559
00:36:25,960 --> 00:36:28,960
Then later when the silicon 
stuff came this different binary

560
00:36:29,160 --> 00:36:30,920
because completely different 
architecture. 

561
00:36:31,200 --> 00:36:33,800
So you need to have you know 2 
binaries for for Apple. 

562
00:36:35,560 --> 00:36:41,280
So developing local software 
though it's I believe as a user 

563
00:36:41,280 --> 00:36:45,640
it has a lot of benefits as a 
developer it's a pain in the 

564
00:36:46,560 --> 00:36:51,960
behind right Because I like like
it it it takes basically it 

565
00:36:51,960 --> 00:36:54,400
costs more money in the end 
because it more dev resources, 

566
00:36:54,400 --> 00:36:59,160
more time while you just make a 
website and you just update it. 

567
00:37:00,080 --> 00:37:05,000
So it this is probably one of 
the biggest challenges the other

568
00:37:05,000 --> 00:37:08,080
would be, but this is something 
that everybody says. 

569
00:37:08,080 --> 00:37:11,320
So I have two talks with 
founders of of or developers of 

570
00:37:11,520 --> 00:37:15,440
other tools that are, you know, 
completely online when you want 

571
00:37:15,440 --> 00:37:19,600
to track crypto. 
I mean there is a new protocol 

572
00:37:19,600 --> 00:37:23,400
or a new primitive, completely 
new idea popping up every week 

573
00:37:23,400 --> 00:37:26,240
or so. 
And the users are extremely 

574
00:37:26,640 --> 00:37:30,120
demanding and they are also very
entitling like they're like, 

575
00:37:30,120 --> 00:37:35,080
wait, why doesn't it track this 
protocol that only I know very 

576
00:37:35,080 --> 00:37:36,480
well. 
Why doesn't it do this? 

577
00:37:37,280 --> 00:37:41,640
So trying to keep up with with 
crypto and it's development in 

578
00:37:41,640 --> 00:37:44,640
this in this field is so fast 
that it's it's extremely 

579
00:37:44,640 --> 00:37:47,440
difficult. 
Yeah, I can. 

580
00:37:47,440 --> 00:37:52,000
I can see that you guys have a 
free tier and a pay tier. 

581
00:37:52,320 --> 00:37:55,320
So how does it work? 
Kind of what? 

582
00:37:55,800 --> 00:38:00,240
As a user, what can I do with 
the free tier and from which 

583
00:38:00,240 --> 00:38:01,880
point onwards do I actually have
to pay? 

584
00:38:03,040 --> 00:38:07,120
Yeah, so the three tier, so this
tiering will change because it's

585
00:38:07,440 --> 00:38:09,120
unsustainable. 
The three tier is way too cheap.

586
00:38:09,360 --> 00:38:13,680
It's 12, no, absolutely €10 per 
month plus VAT wherever you are.

587
00:38:14,000 --> 00:38:18,000
Because for example, for Germany
we have to start 19% VAT. 

588
00:38:18,600 --> 00:38:21,320
If you're in Portugal, a 
different one, if you're not in 

589
00:38:21,320 --> 00:38:25,160
the European zone, it's €10. 
We've got a feedback that you 

590
00:38:25,160 --> 00:38:29,200
can get a lot done with the free
version and that we should 

591
00:38:29,200 --> 00:38:32,120
actually change that in order to
get more money from users. 

592
00:38:32,480 --> 00:38:35,960
But the IT has limits. 
So it is limiting the amount of 

593
00:38:35,960 --> 00:38:40,680
events that you can process. 
So if you have more than I don't

594
00:38:40,680 --> 00:38:44,360
know 1000 or something then or 
500 I don't remember you will 

595
00:38:44,360 --> 00:38:47,960
see a notice saying OK we can't 
process more than this, please 

596
00:38:47,960 --> 00:38:52,560
upgrade to the to the premium 
version. 

597
00:38:53,640 --> 00:38:56,680
And there is some features that 
we have also in the premium 

598
00:38:56,680 --> 00:39:02,680
version like a staking I think. 
And another one is that we allow

599
00:39:02,680 --> 00:39:05,720
and this one of the features 
that people really like for 

600
00:39:05,720 --> 00:39:12,160
premium we allow to up upload 
your database to our server and 

601
00:39:12,160 --> 00:39:13,600
then download it from another 
machine. 

602
00:39:14,240 --> 00:39:17,760
And this is completely private 
because the database to all of 

603
00:39:17,760 --> 00:39:20,960
the data in ROT keys encrypted 
using a password that you give. 

604
00:39:21,480 --> 00:39:23,480
So we we just see a BLOB of 
data. 

605
00:39:23,480 --> 00:39:25,840
We can't treat it. 
We just act as a cloud where you

606
00:39:25,840 --> 00:39:27,680
upload the thing and then you 
download it somewhere else. 

607
00:39:28,920 --> 00:39:34,400
You also said that you don't 
just do accounting and portfolio

608
00:39:34,400 --> 00:39:38,360
tracking, you will also start 
much doing much more portfolio 

609
00:39:38,360 --> 00:39:39,840
management. 
How does that look like? 

610
00:39:40,880 --> 00:39:44,680
So Rocky right now is is mostly 
a tracker, right, an accounting 

611
00:39:44,680 --> 00:39:47,560
tool. 
There is many ways that you can 

612
00:39:47,560 --> 00:39:49,120
take it, but we're a really 
small team. 

613
00:39:49,120 --> 00:39:51,920
So we are, we are resource 
constrained. 

614
00:39:52,680 --> 00:39:56,280
We can either try to do a lot 
more accounting, you know 

615
00:39:56,280 --> 00:39:58,960
there's so many jurisdictions. 
This is another from from the 

616
00:39:59,000 --> 00:40:02,520
another one of the problems. 
Because people say, OK, I want 

617
00:40:02,520 --> 00:40:06,440
to do accounting right, but I am
in the Netherlands so I have 

618
00:40:06,440 --> 00:40:09,400
these rules. 
Please help me or I'm in the uki

619
00:40:09,680 --> 00:40:11,680
have the bed and breakfast rule.
What is that? 

620
00:40:11,800 --> 00:40:17,080
Oh here, read it. 
It's you know the ASRM website. 

621
00:40:17,080 --> 00:40:19,200
You know APDF of 100 pages. 
Please implement it. 

622
00:40:19,680 --> 00:40:22,000
I have a premium user. 
I'm paying €10 per month. 

623
00:40:22,000 --> 00:40:23,320
Please I want this implemented 
from you. 

624
00:40:24,240 --> 00:40:26,920
So it starts getting extremely 
difficult because there really 

625
00:40:26,920 --> 00:40:28,680
is every country has its own 
rules. 

626
00:40:29,320 --> 00:40:34,840
So we try to have generic 
accounting customizable bid as 

627
00:40:34,920 --> 00:40:40,080
an accounting solution approach.
And we want to make it 

628
00:40:40,080 --> 00:40:43,680
configurable for users and users
can make PRS even and add their 

629
00:40:43,680 --> 00:40:46,520
stuff. 
But for management side it's 

630
00:40:47,760 --> 00:40:50,200
including myself as a user and 
other users have told us. 

631
00:40:50,760 --> 00:40:54,160
So I open the road key. 
I see what I have in Kraken in 

632
00:40:54,160 --> 00:41:01,200
Coinbase or in in DFI. 
Why can't I actually manage it 

633
00:41:01,320 --> 00:41:04,800
from Rodkey? 
Rodkey has the Kraken API keys. 

634
00:41:04,800 --> 00:41:08,360
It has the Coinbase API keys. 
If I want to make a trade in 

635
00:41:08,360 --> 00:41:11,400
Kraken to sell F4 Euro, why 
can't I do it from Rodkey? 

636
00:41:11,400 --> 00:41:16,040
Why do I have to open Kraken, 
sign in, put my 2FA and not do 

637
00:41:16,040 --> 00:41:21,480
it from from from Rodkey? 
So the idea is to manage your 

638
00:41:21,480 --> 00:41:31,320
funds by making both on chain 
transactions and trading on the 

639
00:41:31,320 --> 00:41:33,800
exchanges from rot. 
Here this is not possible yet, 

640
00:41:34,160 --> 00:41:36,960
but this is the direction that 
we would like to take it towards

641
00:41:36,960 --> 00:41:42,120
because it would make it more 
much more useful tool for for 

642
00:41:42,120 --> 00:41:45,720
everybody. 
Yeah, I I I can see that and I 

643
00:41:45,720 --> 00:41:49,600
think it's also something that a
lot of portfolio trackers kind 

644
00:41:49,600 --> 00:41:54,240
of a path that they have taken 
also to kind of increase 

645
00:41:54,240 --> 00:41:56,360
monetization, right. 
That's that's true. 

646
00:41:56,360 --> 00:42:01,480
Like for other portfolio 
trackers, this is mostly for DFI

647
00:42:01,480 --> 00:42:03,640
only because they are like DFI 
oriented. 

648
00:42:03,640 --> 00:42:06,840
But yes, indeed they they turn 
into wallets. 

649
00:42:08,680 --> 00:42:12,960
Yeah, absolutely. 
So since you started this, there

650
00:42:12,960 --> 00:42:16,480
have been enormous developments 
in the privacy sphere, right? 

651
00:42:16,480 --> 00:42:20,440
So basically, back in 2017 when 
you kind of started this as a 

652
00:42:20,440 --> 00:42:27,120
CLI project, there was no CKPS 
and now kind of we're talking 

653
00:42:27,120 --> 00:42:29,520
about fully homomorphic 
encryption, right? 

654
00:42:29,800 --> 00:42:37,360
Do you think these cryptographic
tools could help build something

655
00:42:37,360 --> 00:42:45,080
that is easier to maintain but 
still fully private for the 

656
00:42:45,080 --> 00:42:50,280
user? 
Yeah, I'm I I'm not sure. 

657
00:42:50,280 --> 00:42:52,240
I don't know. 
I don't know the technical 

658
00:42:52,240 --> 00:42:56,560
details of the ZKEPS enough to 
to answer. 

659
00:42:57,400 --> 00:43:00,440
OK, what What are the plans for 
the future of Orotky? 

660
00:43:02,240 --> 00:43:05,040
Yeah. 
So the plans for the future is 

661
00:43:05,040 --> 00:43:12,480
to basically capitalize on on 
having a local tool by going 

662
00:43:12,480 --> 00:43:15,400
towards the management side. 
Because another thing is like 

663
00:43:15,400 --> 00:43:20,200
you you wouldn't sell your your 
API keys, active API keys with 

664
00:43:20,240 --> 00:43:24,160
with with an exchange with a 
centralized website. 

665
00:43:24,720 --> 00:43:27,640
People have done it once at 
these three commas think and if 

666
00:43:27,640 --> 00:43:31,320
you've read like the they had 
the stating API where you had a 

667
00:43:32,720 --> 00:43:36,800
what was it like some kind of 
website where it it aggregates 

668
00:43:36,800 --> 00:43:39,880
trades from different exchanges 
it's called 3 commas and they 

669
00:43:39,880 --> 00:43:42,520
got hacked because and they lost
a lot of money from the 

670
00:43:42,680 --> 00:43:46,840
customers because they the 
database got hacked so active 

671
00:43:46,840 --> 00:43:51,360
API keys were leaked and boom 
while with rot it would all be 

672
00:43:51,640 --> 00:43:55,560
locally OK you someone can put a
kilo there on your machine but 

673
00:43:55,560 --> 00:43:58,800
then it's it's it's your fault 
it's not someone leaking your 

674
00:43:58,800 --> 00:44:01,360
data and we did access to your 
funds. 

675
00:44:02,160 --> 00:44:05,840
So we really want to capitalize 
on on on this a lot keep 

676
00:44:05,840 --> 00:44:09,360
offering more accounting 
solutions because this is 

677
00:44:09,600 --> 00:44:12,280
probably one of the things that 
our current users want the most 

678
00:44:12,680 --> 00:44:20,080
and figure out a way to well 
allow for easier to capitalize 

679
00:44:20,080 --> 00:44:24,360
on the open source part, allow 
for easier contributions and 

680
00:44:24,360 --> 00:44:29,240
maybe also incentivize them 
somehow because if we as a as a 

681
00:44:29,240 --> 00:44:32,360
project do good, so maybe also 
our contributors could could 

682
00:44:32,560 --> 00:44:35,120
somehow profit. 
So we're thinking of ways that 

683
00:44:35,120 --> 00:44:40,600
we could we could achieve this 
and change the architecture of 

684
00:44:40,600 --> 00:44:44,960
of the tool again capitalizing 
on the local part so make it 

685
00:44:45,160 --> 00:44:48,680
multi processing we want to, we 
are working on different demons 

686
00:44:48,680 --> 00:44:52,880
underneath doing other things 
because it's I mean it's a it's 

687
00:44:52,880 --> 00:44:57,200
a back end and a front end and 
it's doing so many things, so 

688
00:44:57,200 --> 00:44:59,640
many calculations underneath 
that. 

689
00:45:00,160 --> 00:45:03,320
It's already the limits of the 
current process and it's slow in

690
00:45:03,320 --> 00:45:06,400
many things. 
So we want to I basically go to 

691
00:45:06,400 --> 00:45:09,000
a multi service architecture and
some services written in 

692
00:45:09,880 --> 00:45:13,760
different languages and we're 
looking at at trust right now in

693
00:45:13,760 --> 00:45:17,040
order to well, I mean my 
computer has how many cores and 

694
00:45:17,040 --> 00:45:19,160
I ran Rocky on on the one Python
back end. 

695
00:45:19,160 --> 00:45:23,280
I mean you know how Python is, 
is, is single process. 

696
00:45:23,760 --> 00:45:27,560
Though this is changing with 
newer versions of Python, still 

697
00:45:27,560 --> 00:45:31,280
we want to go to a multi service
architecture to get rid of these

698
00:45:31,320 --> 00:45:34,120
these limitations. 
Super. 

699
00:45:34,520 --> 00:45:35,800
Yeah. 
No, that's super, super. 

700
00:45:35,800 --> 00:45:38,560
Interesting to hear kind of what
the plans for Rocky going 

701
00:45:38,560 --> 00:45:43,520
forward are, maybe that's that's
kind of change gears a little 

702
00:45:43,520 --> 00:45:47,320
bit and talk about Ethereum 
culture and the general 

703
00:45:47,320 --> 00:45:49,800
ecosystem. 
So you have been in the 

704
00:45:49,800 --> 00:45:54,000
ecosystem for 10 years, you you 
kind of joined in 2014, now it's

705
00:45:54,000 --> 00:45:57,360
2024. 
How has how has the culture 

706
00:45:57,360 --> 00:46:03,120
changed in your eyes? 
So we grew a lot, right? 

707
00:46:03,120 --> 00:46:06,560
So I don't know what to call 
Ethereum culture anymore. 

708
00:46:06,560 --> 00:46:11,160
It's so many people compared to 
how it was before. 

709
00:46:11,640 --> 00:46:16,720
It's so many new people and we 
have different subcultures right

710
00:46:16,720 --> 00:46:18,000
now. 
Inside the theme, we have the 

711
00:46:18,480 --> 00:46:25,040
regions, the digens, the the, 
the, the traders, the gamblers. 

712
00:46:25,040 --> 00:46:28,520
I don't know like the builders 
and they, we have the builders 

713
00:46:28,520 --> 00:46:31,320
who are OK, you know we don't 
need open source. 

714
00:46:31,320 --> 00:46:33,960
So let's go closer So the way 
the Builders who are like like 

715
00:46:33,960 --> 00:46:36,760
me like open source, we others 
who are like OK maybe let's go 

716
00:46:36,760 --> 00:46:41,360
somewhere in between So there's 
there's it's so big as an 

717
00:46:41,360 --> 00:46:43,920
ecosystem right now and I'm very
happy and proud of that. 

718
00:46:43,920 --> 00:46:48,640
But I can't really define what 
is what is a theorem culture 

719
00:46:48,640 --> 00:46:50,960
anymore. 
It's just a lot of subcultures. 

720
00:46:52,040 --> 00:46:55,640
Yeah, I I I think, I think 
that's, yeah, that's that's a 

721
00:46:55,640 --> 00:46:58,720
very sad point. 
So if you kind of think about 

722
00:46:58,720 --> 00:47:00,920
kind of like the Ethereum O GS 
from back then. 

723
00:47:01,200 --> 00:47:05,280
So I recently saw again the 
picture from Devcon 0 and as you

724
00:47:05,280 --> 00:47:08,000
said as you said there were 
literally like 25 people there. 

725
00:47:09,680 --> 00:47:14,160
Of those there are very few 
leftover. 

726
00:47:14,160 --> 00:47:18,240
Do you think that's kind of like
Natural Chan and people are just

727
00:47:18,240 --> 00:47:20,120
doing something else now? 
Or do you think it's something 

728
00:47:20,120 --> 00:47:23,120
that's particular to to this 
ecosystem? 

729
00:47:25,000 --> 00:47:26,840
And is there anyone you miss in 
particular? 

730
00:47:27,040 --> 00:47:29,640
Anyone you you really wish would
come back? 

731
00:47:31,880 --> 00:47:36,200
Yeah, yeah. 
Well from Demko 0, yeah. 

732
00:47:36,200 --> 00:47:39,800
I don't know. 
I like, I loved Jeffrey Jeffrey 

733
00:47:39,800 --> 00:47:44,600
Weekly the basically main, the 
first developer of of Keith. 

734
00:47:45,400 --> 00:47:50,480
He's a really good guy. 
If I were to say anybody from 

735
00:47:50,480 --> 00:47:55,880
from from that picture that I 
just just remembered As for the 

736
00:47:55,880 --> 00:47:58,800
term, it's. 
Completely out. 

737
00:47:59,000 --> 00:48:00,520
Out of the ecosystem, right? 
He doesn't. 

738
00:48:00,600 --> 00:48:03,200
Yeah. 
Completely unlike the only time 

739
00:48:03,200 --> 00:48:05,320
that I saw his name was when 
someone accused him of selling 

740
00:48:05,320 --> 00:48:09,880
if in order to find his. 
I think he's doing a game right 

741
00:48:09,880 --> 00:48:15,240
now like a software game and 
some because they tracked his 

742
00:48:15,360 --> 00:48:19,720
theorem address from but in 
genesis and they you know try to

743
00:48:20,320 --> 00:48:23,040
name same him in Twitter for for
selling if. 

744
00:48:23,960 --> 00:48:27,400
Busted kind of selling the East 
that legally belongs to him. 

745
00:48:29,120 --> 00:48:31,760
What maybe we were talking about
maybe a year or two ago. 

746
00:48:31,760 --> 00:48:34,640
So yeah, there is definitely a 
natural turn. 

747
00:48:34,640 --> 00:48:39,200
I mean, people being 10 years 
older, if if you're now it's 40s

748
00:48:39,200 --> 00:48:43,280
or 50s, I mean at some point 
you're like OK, you know middle 

749
00:48:43,280 --> 00:48:46,440
age crisis, some get married, 
some with kids. 

750
00:48:48,640 --> 00:48:53,320
The turn is is natural. 
On the other hand, there is also

751
00:48:53,440 --> 00:48:55,720
something that most of the 
people there, if they actually 

752
00:48:55,720 --> 00:48:59,440
had even kept it, probably don't
need to care about anything 

753
00:48:59,440 --> 00:49:04,080
anymore. 
So maybe this also shows who was

754
00:49:04,080 --> 00:49:07,240
interested in it for just, you 
know, like, OK, let's just make 

755
00:49:07,240 --> 00:49:09,800
something cool but make money 
and then retire. 

756
00:49:12,240 --> 00:49:16,520
And who is still here and is 
just building because this is 

757
00:49:16,520 --> 00:49:19,880
something really interesting. 
And I mean this, this thing that

758
00:49:19,880 --> 00:49:21,680
we're building is really 
interesting and the people who 

759
00:49:21,680 --> 00:49:27,040
still are here in one way or 
another, I I, I find it really, 

760
00:49:27,320 --> 00:49:31,280
really nice. 
Yeah, no, it's it's it's always 

761
00:49:31,280 --> 00:49:33,000
good to kind of run into old 
faces. 

762
00:49:33,480 --> 00:49:38,280
Yeah. 
You're a very active Twitter on 

763
00:49:38,280 --> 00:49:43,040
Twitter and the things kind of 
you cover a lot are kind of like

764
00:49:43,040 --> 00:49:47,280
things like privacy and free 
speech kind of tornado style 

765
00:49:47,280 --> 00:49:51,200
kind of project, but also 
security. 

766
00:49:51,480 --> 00:49:54,720
You're also pretty big in the 
Ethereum public goods and 

767
00:49:54,720 --> 00:49:58,240
protocol governance scene. 
So you're one of the largest 

768
00:49:58,240 --> 00:50:01,640
delegates for a number of 
projects. 

769
00:50:03,080 --> 00:50:05,960
How? 
How do you choose which issues 

770
00:50:05,960 --> 00:50:09,200
to get involved in, and what 
makes you passionate about them?

771
00:50:10,880 --> 00:50:14,320
Yeah, That's a good question. 
I I never plan to actually 

772
00:50:14,320 --> 00:50:18,400
become a, as they call it, our 
politician or governance 

773
00:50:18,400 --> 00:50:20,040
politician or. 
I have no idea how that's 

774
00:50:20,040 --> 00:50:20,720
happened. 
Really. 

775
00:50:21,360 --> 00:50:26,240
I I I really have no idea. 
For example, it turns out that 

776
00:50:26,240 --> 00:50:27,680
I'm the biggest delegate in 
Diva. 

777
00:50:28,880 --> 00:50:33,120
And they do a distributed 
staking validation protocol, 

778
00:50:33,120 --> 00:50:34,400
right? 
Exactly. 

779
00:50:34,480 --> 00:50:36,880
I have no idea how. 
Like someone told me, hey, do 

780
00:50:36,880 --> 00:50:38,040
you know what you're delegating?
Diva. 

781
00:50:38,040 --> 00:50:40,840
I said, yeah, remember that. 
I said, OK, if anybody wants to 

782
00:50:40,840 --> 00:50:43,720
delegate to me, do that. 
And then someone tells me, hey, 

783
00:50:43,720 --> 00:50:45,920
can you come to this telegram? 
We need you to vote because 

784
00:50:45,920 --> 00:50:47,880
you're the biggest delegate and 
I'm like, wait, what? 

785
00:50:49,120 --> 00:50:51,720
But everyone knows you, right, 
because you're so active on 

786
00:50:51,720 --> 00:50:55,520
Twitter and kind of you seem, I 
know I've delegated to you in 

787
00:50:55,520 --> 00:50:59,400
the past because kind of you you
you seem to kind of think think 

788
00:50:59,760 --> 00:51:04,200
things out well and you know I I
don't have bandwidth to kind of 

789
00:51:04,200 --> 00:51:07,640
look into all of these things 
and I know they're kind of if if

790
00:51:07,640 --> 00:51:11,560
you kind of looked into it I 
would probably end up agreeing 

791
00:51:11,560 --> 00:51:13,320
with you. 
So kind of, I think this is 

792
00:51:13,360 --> 00:51:16,120
these are the reasons for which 
people delegate, right? 

793
00:51:16,960 --> 00:51:18,320
Probably. 
Probably, yeah. 

794
00:51:18,680 --> 00:51:20,760
It started probably with ENS and
Gitcoin. 

795
00:51:20,760 --> 00:51:23,440
I guess because Gitcoin is 
something that I really love. 

796
00:51:23,840 --> 00:51:26,800
I I stopped actually being a 
delegate there because of issues

797
00:51:26,800 --> 00:51:28,480
with the governance. 
I just said OK, I don't want 

798
00:51:28,480 --> 00:51:35,000
anymore, I'm just too tired. 
But things that try to change 

799
00:51:35,000 --> 00:51:38,600
the world like like Gitcoin, 
because I I find it amazing that

800
00:51:38,600 --> 00:51:42,120
it can basically it has so many 
flaws. 

801
00:51:42,160 --> 00:51:45,280
I have criticized it as many 
times as I have said that I love

802
00:51:45,280 --> 00:51:48,240
it. 
But it's amazing that you have 

803
00:51:48,240 --> 00:51:50,960
this idea where OK, you gather 
people from all around the world

804
00:51:50,960 --> 00:51:54,200
and you fund projects and then 
there is a matching port and 

805
00:51:54,200 --> 00:51:59,040
these projects get more funding 
from from the port. 

806
00:52:00,800 --> 00:52:05,080
And we have funded with this 
even things outside of crypto 

807
00:52:05,480 --> 00:52:09,680
like I treated the other day 
about your Lib 3 which is a very

808
00:52:09,680 --> 00:52:16,800
basic library in Python. 
So it's it's really amazing to 

809
00:52:16,800 --> 00:52:23,160
see how these primitives that we
have created in in, in, in 

810
00:52:23,160 --> 00:52:29,440
crypto can help people build 
amazing stuff and fund them. 

811
00:52:29,880 --> 00:52:37,120
So I guess that's how I got into
it, Just wanted to influence its

812
00:52:37,160 --> 00:52:40,200
its direction. 
How much time does it take up 

813
00:52:40,200 --> 00:52:42,280
for you? 
Because kind of like following 

814
00:52:42,280 --> 00:52:47,920
like other forums, I'm involved 
in way fewer projects and even I

815
00:52:47,920 --> 00:52:52,080
struggle to kind of keep up. 
I don't follow forums as as much

816
00:52:52,120 --> 00:52:57,320
as people probably think. 
If if if government relies on 

817
00:52:58,000 --> 00:53:00,720
needing to follow forums I 
probably don't like or or like 

818
00:53:00,760 --> 00:53:05,600
step step step away from that 
particular project So actively, 

819
00:53:05,600 --> 00:53:09,120
actively I think I'm mostly in 
optimism in ENS. 

820
00:53:11,040 --> 00:53:17,080
This is probably the most active
ones that I, I, I I am 

821
00:53:17,080 --> 00:53:21,800
activating right now And one 
really cool thing that I have 

822
00:53:21,800 --> 00:53:24,920
asked of every doubt that I'm 
involved in I'm also involved in

823
00:53:24,920 --> 00:53:31,360
hope a bit etcetera is is to get
delegates having a mailing list.

824
00:53:31,360 --> 00:53:36,640
So like what happened like 
weekly sum up this is beautiful 

825
00:53:36,640 --> 00:53:40,320
because I can just go through it
and say OK that's it good good 

826
00:53:40,320 --> 00:53:42,520
info. 
It's it's, it's it's it's a game

827
00:53:42,520 --> 00:53:45,360
changer are. 
These published somewhere. 

828
00:53:46,640 --> 00:53:48,600
Yeah, I think, I think everybody
can. 

829
00:53:49,480 --> 00:53:51,800
Just like with a mailing list, 
right? 

830
00:53:51,800 --> 00:53:54,200
You can subscribe and then you 
you get it. 

831
00:53:54,240 --> 00:53:55,440
I think so. 
It's. 

832
00:53:55,440 --> 00:53:57,680
Definitely no, no, no. 
No, no. 

833
00:53:57,720 --> 00:54:00,560
It's like the governance weekly 
or something like that. 

834
00:54:00,960 --> 00:54:04,640
It's it's pretty it's pretty 
helpful if you're a delegate 

835
00:54:04,640 --> 00:54:06,680
because then you actually can 
know what's happening without 

836
00:54:06,680 --> 00:54:08,480
having to be on the forums every
time. 

837
00:54:08,480 --> 00:54:13,280
And then you see OK so this 
particular proposal is something

838
00:54:13,280 --> 00:54:16,040
that I should look at but it it 
it does take time and 

839
00:54:16,040 --> 00:54:19,920
unfortunately some things take a
lot more time than they should 

840
00:54:20,040 --> 00:54:25,360
like so ENS for example it's 
it's pretty smooth like it's 

841
00:54:26,400 --> 00:54:33,400
they have this sub groups or 
working groups they're the most 

842
00:54:33,440 --> 00:54:35,400
they're mostly running the Dow 
and then they're asking the 

843
00:54:35,400 --> 00:54:38,080
delegates to to vote on staff. 
And when there's a big vote 

844
00:54:38,080 --> 00:54:41,120
that's when a lot of thinking 
needs to happen like there was 

845
00:54:41,120 --> 00:54:44,880
now with the service providers. 
But mostly it's hands off 

846
00:54:45,400 --> 00:54:48,880
optimism is so much work I I 
don't know what the heck I'm 

847
00:54:48,880 --> 00:54:51,600
doing there. 
It's like so much work. 

848
00:54:52,720 --> 00:54:55,560
Are delegates compensated for 
their for their time? 

849
00:54:56,040 --> 00:54:58,120
No. 
And this is another problem that

850
00:54:59,320 --> 00:55:02,840
so ENSI mean it's too little, 
it's it's not too much work but 

851
00:55:03,440 --> 00:55:07,320
like there is the best of work. 
Optimism is, is really a lot of 

852
00:55:07,320 --> 00:55:11,040
work. 
They say that they don't want to

853
00:55:11,200 --> 00:55:16,120
so for optimism they don't want 
to compensate but maybe there 

854
00:55:16,120 --> 00:55:21,560
will be retro PDF. 
So there's this kind of bait of 

855
00:55:21,560 --> 00:55:24,080
sorts to get people more 
interested in governance. 

856
00:55:24,480 --> 00:55:26,800
But for me it would be much 
better if it was like, OK, so 

857
00:55:26,800 --> 00:55:29,280
this is the outside put and this
is how much I get compensated. 

858
00:55:29,280 --> 00:55:33,920
Not like a little PCF because 
it's it's a different, I think 

859
00:55:33,920 --> 00:55:36,040
they're they're completely 
different things This this 

860
00:55:36,040 --> 00:55:38,520
shouldn't work like this because
it really takes a lot of time. 

861
00:55:40,680 --> 00:55:44,320
Optimism is I find really cool 
and annoying at the same time 

862
00:55:44,560 --> 00:55:48,600
because so optimism has the 
foundation behind it and it's 

863
00:55:48,600 --> 00:55:50,680
not hands off. 
It's very hands on. 

864
00:55:51,120 --> 00:55:53,400
So this is what I don't like it.
Some. 

865
00:55:53,520 --> 00:55:57,080
A lot of the times it feels like
the centralization theatre as 

866
00:55:57,080 --> 00:56:00,160
opposed to like actual 
governance. 

867
00:56:01,240 --> 00:56:04,000
They are taking feedback well 
and they're changing it. 

868
00:56:04,640 --> 00:56:07,080
They're really trying. 
They have voting cycles. 

869
00:56:07,080 --> 00:56:10,960
They have seasons and every time
it gets better and better still 

870
00:56:10,960 --> 00:56:15,200
hands on. 
The question will be if Optimism

871
00:56:15,200 --> 00:56:18,000
Foundation wasn't actually 
guiding this, wouldn't would it 

872
00:56:18,000 --> 00:56:19,880
be chaos? 
Maybe it's better this way. 

873
00:56:19,880 --> 00:56:24,080
I, I, I, I, I don't know. 
Optimism does it in an 

874
00:56:24,080 --> 00:56:27,800
interesting way. 
The most cool thing about 

875
00:56:27,800 --> 00:56:30,560
optimism, and I find that I find
really interesting, is that they

876
00:56:30,560 --> 00:56:35,880
have a by camera or by chamber 
governance. 

877
00:56:36,400 --> 00:56:40,040
So they call it the token house 
and the citizen house. 

878
00:56:40,520 --> 00:56:44,160
The token house is the use on 
delegates. 

879
00:56:44,360 --> 00:56:47,080
It will delegate up to someone, 
and these are the token house 

880
00:56:47,080 --> 00:56:49,320
delegates. 
Then there's the citizen house, 

881
00:56:49,760 --> 00:56:59,400
which is supposed to fight them 
plutocracy by having recognized 

882
00:56:59,400 --> 00:57:03,080
citizens as one person, one 
vote. 

883
00:57:03,560 --> 00:57:09,240
Right now there's 125 people I 
think, and they in the beginning

884
00:57:09,240 --> 00:57:12,880
only voted in the retro PCF, so 
all retro PDF rounds were 

885
00:57:12,880 --> 00:57:14,960
actually voted only by the bot 
holders. 

886
00:57:14,960 --> 00:57:18,320
So the citizens. 
But right now from this season, 

887
00:57:18,360 --> 00:57:21,640
they start to have a voice in 
the actual governance too and 

888
00:57:21,640 --> 00:57:23,160
they can basically veto almost 
everything. 

889
00:57:25,080 --> 00:57:28,400
So they tried to have to 
experiment with this idea of of 

890
00:57:29,320 --> 00:57:33,200
two different chambers of 
governance so that there is no 

891
00:57:34,160 --> 00:57:40,160
power of plutocracy completely 
on the on on the on the token 

892
00:57:40,160 --> 00:57:43,320
holders and that cannot be 
captured or if it gets captured 

893
00:57:43,320 --> 00:57:46,440
so that it can be saved by by 
the citizen house. 

894
00:57:46,600 --> 00:57:50,840
It's really interesting approach
I I I find it unique and I 

895
00:57:51,000 --> 00:57:53,520
really want to see how, how, how
it goes. 

896
00:57:54,120 --> 00:57:59,080
Yeah, I think governance is it's
going to, they're going to be so

897
00:57:59,080 --> 00:58:01,040
many. 
If this is to work. 

898
00:58:01,080 --> 00:58:03,320
There's going to be so many 
upgrades. 

899
00:58:03,320 --> 00:58:07,480
So kind of like this, this one 
person one vote and then kind of

900
00:58:07,480 --> 00:58:12,280
the delegates and kind of it's 
kind of it's it's too easy to 

901
00:58:12,280 --> 00:58:18,680
break and to spam and it's yeah.
So I'm super curious to see how 

902
00:58:18,680 --> 00:58:23,080
that will go in the future. 
What makes you hopeful for the 

903
00:58:23,080 --> 00:58:26,160
road ahead for Ethereum and what
worries you? 

904
00:58:28,200 --> 00:58:34,080
So hopefully, hopefully I guess 
all the cool stuff like we're 

905
00:58:34,080 --> 00:58:40,200
really building really cool 
stuff as like I saw a tweet by 

906
00:58:40,200 --> 00:58:42,120
Peter and I I kind of agreed 
with it. 

907
00:58:42,400 --> 00:58:47,840
Peter from from Gev C Laggy. 
Yeah I'm not going to try to 

908
00:58:48,240 --> 00:58:49,800
sorry, sorry if you what's this,
Peter. 

909
00:58:51,200 --> 00:58:56,680
But like I also was a bit 
guessed the EIP 1559 because I 

910
00:58:57,160 --> 00:59:00,040
didn't think it would work or 
the, you know like it didn't 

911
00:59:00,040 --> 00:59:03,160
make sense to me. 
But you know, like, it's a 

912
00:59:03,160 --> 00:59:06,360
resounding success as an idea. 
And it's really. 

913
00:59:06,720 --> 00:59:09,200
So, yeah, P 1559 was the fee 
market, right? 

914
00:59:09,880 --> 00:59:11,160
Yes, yes, that's correct. 
Sorry. 

915
00:59:11,160 --> 00:59:13,960
I I yeah, I hate this when 
people do that and I shouldn't 

916
00:59:13,960 --> 00:59:17,040
have done this like these 
numbers, you know, like, you 

917
00:59:17,040 --> 00:59:20,280
know, 1547 and 4633 and I'm 
like, OK. 

918
00:59:20,280 --> 00:59:21,000
What? 
Yeah, I know. 

919
00:59:21,040 --> 00:59:22,400
Exactly. 
What is this? 

920
00:59:23,440 --> 00:59:27,280
Yeah, so the fee market one has 
worked amazingly. 

921
00:59:27,280 --> 00:59:30,960
So I think that it's probably 
this also goes back to the 

922
00:59:30,960 --> 00:59:33,480
people. 
So like the there's so many 

923
00:59:33,800 --> 00:59:37,400
smart people in this field. 
There's also many people smarter

924
00:59:37,400 --> 00:59:41,680
than me, younger, talented and 
you know, hungry for for for 

925
00:59:41,680 --> 00:59:44,640
building beautiful stuff. 
I think this is the hope like 

926
00:59:44,640 --> 00:59:48,880
all this new new new generation 
that is inside this ecosystem 

927
00:59:48,880 --> 00:59:53,360
that we built back then. 
It's this is making me extremely

928
00:59:53,360 --> 00:59:55,320
hopeful for the future. 
It's it's really beautiful to 

929
00:59:55,320 --> 01:00:00,920
see all those young people 
trying to build cool stuff and 

930
01:00:00,920 --> 01:00:04,400
also them. 
How generous people are about 

931
01:00:04,600 --> 01:00:07,520
helping good causes. 
Like now with a tornado, right? 

932
01:00:07,520 --> 01:00:12,200
You see how both back when it 
was just Alexei Persev's case. 

933
01:00:12,200 --> 01:00:16,400
But now with that, it's both 
cases with Persev and Roman in 

934
01:00:16,400 --> 01:00:21,880
the US, how everyone just, you 
know, opens up and says, OK, 

935
01:00:21,880 --> 01:00:26,440
yeah, let's donate, let's help 
defend open source and defend 

936
01:00:26,440 --> 01:00:30,000
privacy. 
So this kind of reactions and 

937
01:00:30,000 --> 01:00:34,120
this kind of people in the field
really make me extremely hopeful

938
01:00:34,120 --> 01:00:36,360
and proud to to be to be part of
this ecosystem. 

939
01:00:36,800 --> 01:00:39,040
I love the way that you frame 
the kind of what makes you 

940
01:00:39,040 --> 01:00:43,040
hopeful, because I think kind of
like young and smart people in 

941
01:00:43,040 --> 01:00:45,520
the ecosystem. 
I I think you're spot on. 

942
01:00:46,320 --> 01:00:48,000
Yeah, yeah, it's it's it's it's 
amazing. 

943
01:00:48,040 --> 01:00:49,120
It's it's really cool to. 
See. 

944
01:00:49,200 --> 01:00:51,560
And people who are still in it 
for the right reasons, right. 

945
01:00:51,880 --> 01:00:54,200
So basically, I mean 
intermittently, we always kind 

946
01:00:54,200 --> 01:00:57,320
of have these faces where 
there's a lot of money Bros. 

947
01:00:58,520 --> 01:01:01,400
But yeah, by and large, they're 
still they're still the people 

948
01:01:01,400 --> 01:01:05,000
who are in it because they just 
believe in the vision. 

949
01:01:05,880 --> 01:01:10,440
Yeah, yeah, that's true. 
For for for what worries me, I 

950
01:01:10,440 --> 01:01:19,200
guess a lot of things again, 
like super majority of of, of, 

951
01:01:19,720 --> 01:01:22,720
of gift, in in in stating this, 
this. 

952
01:01:22,880 --> 01:01:24,120
I had totally forgotten about 
it. 

953
01:01:24,120 --> 01:01:27,440
And now that it became a Twitter
thing again, I'm like, oh wow, 

954
01:01:27,680 --> 01:01:30,200
that's really serious. 
That really worries me. 

955
01:01:30,200 --> 01:01:33,920
Like I the moment I realized 
that it's so bad, I I'm really 

956
01:01:33,920 --> 01:01:36,560
worried about this. 
So things like that. 

957
01:01:36,560 --> 01:01:40,640
Like they call it a Black Swan 
event, but it's not really a 

958
01:01:40,640 --> 01:01:43,160
Black Swan if you actually talk 
about it and expect that it may 

959
01:01:43,160 --> 01:01:44,520
happen if. 
You can see it coming. 

960
01:01:45,120 --> 01:01:47,800
Yeah, yeah, I I find it weird 
that you would call it a Black 

961
01:01:47,800 --> 01:01:50,720
Swan event. 
But also, you know, the other 

962
01:01:50,720 --> 01:01:57,400
thing would be the image that we
have towards the outside. 

963
01:01:58,360 --> 01:02:02,920
This saddens me maybe more than 
worries me, but also worries me 

964
01:02:02,920 --> 01:02:06,040
because this image. 
So we we, we, we tend to have a 

965
01:02:06,040 --> 01:02:08,720
very negative image right 
outside of the crypto space. 

966
01:02:10,000 --> 01:02:18,120
They just somehow associate us 
only with crime or scams or 

967
01:02:19,560 --> 01:02:22,320
gambling, you know, very 
negative words. 

968
01:02:23,800 --> 01:02:27,960
While in reality it's it's not. 
It's not like that. 

969
01:02:28,840 --> 01:02:35,400
Although there is a lot of 
scams, a lot of bad stuff in in 

970
01:02:35,400 --> 01:02:42,920
crypto for sure. 
It's like the developers that 

971
01:02:42,920 --> 01:02:45,800
are just working in other non 
crypto fields seem to actually 

972
01:02:45,800 --> 01:02:48,400
hate developers work in crypto. 
Like there is a lot of actual 

973
01:02:48,400 --> 01:02:50,520
hate. 
I have been attacked in in let's

974
01:02:50,520 --> 01:02:54,800
say issues in GitHub when they 
realized, so we are reporting a 

975
01:02:54,800 --> 01:02:57,360
a library issue somewhere and 
then they realize that they work

976
01:02:57,360 --> 01:03:01,000
in crypto and they're extremely 
like unkind telling me to, you 

977
01:03:01,000 --> 01:03:04,800
know get off that they don't 
want to help me. 

978
01:03:04,800 --> 01:03:06,360
I have heard this will happen 
multiple times. 

979
01:03:06,360 --> 01:03:09,600
And I mean this. 
I find it extremely worrying 

980
01:03:09,600 --> 01:03:11,800
because this translates later 
into what we see in the 

981
01:03:11,800 --> 01:03:15,800
political scene in the US, 
because if many people associate

982
01:03:15,800 --> 01:03:20,520
something with with crime, then 
they can push it to be banned or

983
01:03:20,520 --> 01:03:25,800
to have, well, a lot of 
political consequences. 

984
01:03:25,800 --> 01:03:28,760
And this this actually really 
worries me because the 

985
01:03:28,760 --> 01:03:33,320
misinformation there can do a 
lot of damage to to to our 

986
01:03:33,480 --> 01:03:38,720
sector. 
And it's often strongest in 

987
01:03:38,720 --> 01:03:42,400
groups that should in principle 
be values aligned with us. 

988
01:03:42,680 --> 01:03:45,520
So kind of like the the people 
who kind of came out from the 

989
01:03:45,680 --> 01:03:50,200
original cypherpunk. 
So kind of like the CCC in in 

990
01:03:50,200 --> 01:03:53,640
Germany or the Electronic 
Frontier Foundation almost 

991
01:03:53,640 --> 01:03:56,800
everyone is extremely web three 
critical. 

992
01:03:57,640 --> 01:04:03,040
So yeah, I I I feel you. 
I also, I also find that very 

993
01:04:03,040 --> 01:04:05,800
worrying. 
Yes, yes, yes, exactly. 

994
01:04:05,800 --> 01:04:09,400
I and I don't know. 
You know, I normally don't worry

995
01:04:09,400 --> 01:04:12,160
if I have a solution and I know,
OK, let's go work towards that. 

996
01:04:12,360 --> 01:04:15,600
I don't know what to do here 
because I don't understand why 

997
01:04:15,600 --> 01:04:17,920
this is happening. 
OK. 

998
01:04:17,920 --> 01:04:19,960
No, I mean, I can understand 
why. 

999
01:04:20,360 --> 01:04:23,040
Yeah, I also understand why. 
So basically I think kind of 

1000
01:04:23,040 --> 01:04:27,040
like being on the inside, 
there's a lot of scams that 

1001
01:04:27,040 --> 01:04:29,480
we're not even Privy to. 
So basically that kind of like 

1002
01:04:29,800 --> 01:04:34,400
regular people are the target 
audience for and we don't even 

1003
01:04:35,680 --> 01:04:38,240
we'd never actually end up 
hearing about. 

1004
01:04:38,480 --> 01:04:44,480
So there was like this Runaway 
hit podcast I think made by the 

1005
01:04:44,480 --> 01:04:48,480
BBC last week last year the the 
Crypto Queen or something. 

1006
01:04:48,880 --> 01:04:50,920
And I had. 
It was literally a project that 

1007
01:04:50,960 --> 01:04:52,240
had. 
A parent lady, right? 

1008
01:04:52,680 --> 01:04:55,920
Yeah, exactly. 
Had apparently raised billions 

1009
01:04:55,920 --> 01:05:00,040
of dollars and I had literally 
never heard of her like zero 

1010
01:05:00,040 --> 01:05:01,920
time. 
So I think kind of we're kind of

1011
01:05:01,920 --> 01:05:08,280
like we're very much in this 
bubble where there are largely 

1012
01:05:08,480 --> 01:05:12,760
well-intentioned people and kind
of like all of this scammy 

1013
01:05:12,760 --> 01:05:16,000
underbelly of crypto, we're not 
Privy to it. 

1014
01:05:16,000 --> 01:05:19,280
So I think probably for every 
legitimate project that we know 

1015
01:05:19,280 --> 01:05:24,360
and love, there's 20 scam 
projects that we've never heard 

1016
01:05:24,440 --> 01:05:26,160
of. 
And I think this is very much 

1017
01:05:26,160 --> 01:05:29,640
kind of how this image of crypto
actually rises. 

1018
01:05:29,640 --> 01:05:33,440
And I think kind of the way to 
kind of dig ours, dig ourselves 

1019
01:05:33,480 --> 01:05:40,120
out of this hole, I hope is by 
building genuinely useful 

1020
01:05:40,120 --> 01:05:43,320
application for regular people. 
And I think kind of this is kind

1021
01:05:43,320 --> 01:05:46,440
of where we where as an 
ecosystem kind of we need to get

1022
01:05:46,440 --> 01:05:51,280
to, right? 
Yeah, yeah, that's that's that's

1023
01:05:51,280 --> 01:05:53,920
true. 
But I don't know how to get 

1024
01:05:53,920 --> 01:05:57,080
there because even if we do like
we have, we have, we have a lot 

1025
01:05:57,080 --> 01:06:01,960
of stuff like, I mean, OK now I 
like advertising is something 

1026
01:06:01,960 --> 01:06:04,480
that you guys work on in Gnosis,
like the Gnosis pay, right. 

1027
01:06:04,480 --> 01:06:06,480
Like this is amazing. 
This is going to be super cool, 

1028
01:06:06,960 --> 01:06:09,360
based on Monarium, which I have 
actually also used, right? 

1029
01:06:09,400 --> 01:06:15,000
And these are really like the 
payments, unlocking payments. 

1030
01:06:15,000 --> 01:06:19,280
It's, it's. 
Yeah, but it's still, it's still

1031
01:06:19,320 --> 01:06:21,760
a promise, right. 
So basically it still hasn't 

1032
01:06:21,760 --> 01:06:24,360
found. 
I mean it's so kind of, we're 

1033
01:06:24,360 --> 01:06:29,080
very hard at work to kind of 
make it usable for anyone who's 

1034
01:06:29,080 --> 01:06:31,840
kind of on a regular new bank 
account. 

1035
01:06:32,520 --> 01:06:35,320
So maybe not for your 
grandmother, but kind of for for

1036
01:06:35,320 --> 01:06:38,840
kind of regular people our age 
who have no crypto background, 

1037
01:06:38,840 --> 01:06:41,120
should be usable without them 
having to know kind of what is 

1038
01:06:41,120 --> 01:06:44,840
heat phrases and so on. 
But we're not there yet. 

1039
01:06:44,840 --> 01:06:48,520
So kind of if you kind of look 
at actually users in crypto, 

1040
01:06:49,040 --> 01:06:52,960
kind of people who are there to 
kind of use the products because

1041
01:06:52,960 --> 01:06:55,600
they are legitimately better 
than the web. 

1042
01:06:55,600 --> 01:06:59,320
Two equivalent. 
I would there's I think there's 

1043
01:06:59,320 --> 01:07:02,440
literally zero. 
And I think kind of moving from 

1044
01:07:02,840 --> 01:07:07,000
a place, I think I'm super 
hopeful we can we can get there 

1045
01:07:07,000 --> 01:07:09,520
and we can get there maybe this 
year or next year. 

1046
01:07:10,480 --> 01:07:15,840
Basically having real 
applications with real users who

1047
01:07:15,840 --> 01:07:18,120
are not in it because it's 
crypto and it's cool, but 

1048
01:07:18,120 --> 01:07:22,040
because it's better than what 
they used to have, I think we 

1049
01:07:22,040 --> 01:07:25,480
can get there. 
And I think this is, this will 

1050
01:07:25,480 --> 01:07:29,840
have to be the way to kind of 
get out of this, you know, 

1051
01:07:30,200 --> 01:07:33,040
public relations nightmare that 
we're in at the moment. 

1052
01:07:33,560 --> 01:07:38,520
Yeah yeah, the we we need to 
find like well, not exactly find

1053
01:07:38,520 --> 01:07:42,600
PMF, but it would be nice to 
have a good good applications. 

1054
01:07:42,760 --> 01:07:46,680
But I still think of the stuff 
that crypto does a lot better 

1055
01:07:46,680 --> 01:07:49,920
than anything else right now, 
which is, I mean payments, it's 

1056
01:07:49,920 --> 01:07:52,200
it's nothing can do this as well
as crypto. 

1057
01:07:52,600 --> 01:07:56,720
I like paying people in outside 
of the EU, paying people in 

1058
01:07:56,720 --> 01:07:59,120
Africa. 
So we have some independent 

1059
01:07:59,120 --> 01:08:02,120
contractors in the Rocky that 
work some hours for us, right? 

1060
01:08:02,120 --> 01:08:03,720
And we pay them through through 
crypto. 

1061
01:08:04,440 --> 01:08:09,160
If you try to pay Africa, 
sometimes Asia also, right? 

1062
01:08:09,960 --> 01:08:14,200
Yeah, so we tried, even with I 
don't know what other solutions 

1063
01:08:14,200 --> 01:08:16,279
are there like PayPal or or Wise
transfer. 

1064
01:08:17,120 --> 01:08:20,479
We tried wise. 
Oh my God, it's first of all so 

1065
01:08:20,479 --> 01:08:25,560
slow, then expensive. 
The percentage on the amount and

1066
01:08:25,680 --> 01:08:28,600
the second payment that we tried
to send, it took about a month 

1067
01:08:28,840 --> 01:08:31,800
because it got somehow flagged. 
And then we had to talk with 

1068
01:08:31,800 --> 01:08:34,680
support and. 
Look, you're you're preaching to

1069
01:08:34,680 --> 01:08:36,080
the choir here. 
I totally agree. 

1070
01:08:36,080 --> 01:08:38,439
But I think kind of then kind of
if you look at the other side, 

1071
01:08:38,720 --> 01:08:42,840
the question is kind of like how
do you off rampant, how do you, 

1072
01:08:42,840 --> 01:08:46,000
how do you make the stables 
accessible so that you can 

1073
01:08:46,000 --> 01:08:48,960
actually spend them for 
groceries and your rent And I 

1074
01:08:48,960 --> 01:08:50,479
think this is still way too 
hard. 

1075
01:08:50,479 --> 01:08:54,680
So I think kind of, yeah, I mean
I think kind of it's potential 

1076
01:08:54,680 --> 01:08:58,920
improvement is definitely there 
and I think we can get there. 

1077
01:08:59,040 --> 01:09:01,279
But I think kind of making it 
more usable. 

1078
01:09:01,479 --> 01:09:05,640
I think this kind of needs to be
kind of like priority one for 

1079
01:09:05,640 --> 01:09:07,840
now. 
Yeah, yeah for for countries 

1080
01:09:07,920 --> 01:09:10,960
like for Asian countries from 
what I I I heard they just use 

1081
01:09:11,000 --> 01:09:14,359
you know like exchanges like 
like I I do normally for for off

1082
01:09:14,359 --> 01:09:17,240
ramping in Africa. 
It's extremely interesting. 

1083
01:09:17,240 --> 01:09:22,880
They use this like PP2P stuff. 
They they just do Crypto P2P 

1084
01:09:23,560 --> 01:09:26,680
just like we used to do. 
Not so much anymore like Local 

1085
01:09:26,680 --> 01:09:29,920
Bitcoins and Local. 
Yeah Local bitcoins there was 

1086
01:09:30,479 --> 01:09:35,560
there was a fun time yeah cool 
left Harris it's been a it's 

1087
01:09:35,560 --> 01:09:38,760
been an absolute pleasure to 
speak with you and have you on 

1088
01:09:39,120 --> 01:09:43,680
this podcast for the first time 
for real after 10 years of kind 

1089
01:09:43,680 --> 01:09:47,160
of working together where if 
people are interested in trying 

1090
01:09:47,160 --> 01:09:50,240
out rough key or contributing 
where should where should we 

1091
01:09:50,240 --> 01:09:54,120
send them. 
For for contributing it would be

1092
01:09:55,240 --> 01:09:57,600
a GitHub and Discord. 
So GitHub to see the code and 

1093
01:09:57,600 --> 01:10:01,320
Discord to basically chat with 
us ask us any questions we are. 

1094
01:10:01,320 --> 01:10:05,800
We're extremely welcome to 
contributors and to download it.

1095
01:10:06,680 --> 01:10:09,200
You can also download this from 
GitHub but we have it on our 

1096
01:10:09,200 --> 01:10:13,640
website likeerotki.com. 
You can just go there and press 

1097
01:10:13,640 --> 01:10:15,600
download. 
Depending on the IT will 

1098
01:10:15,600 --> 01:10:17,760
probably detect your operating 
system and then download the 

1099
01:10:17,760 --> 01:10:20,880
proper binary and just try it 
and then come to discord and 

1100
01:10:21,520 --> 01:10:23,520
tell us what you think. 
Perfect. 

1101
01:10:23,960 --> 01:10:26,720
Thank you so much for coming on 
Lev Harris and see you soon. 

1102
01:10:27,520 --> 01:10:28,640
Yeah. 
Thank you so much. 

1103
01:10:31,360 --> 01:10:33,120
Thank you for joining us on this
week's episode. 

1104
01:10:33,480 --> 01:10:35,080
We release new episodes every 
week. 

1105
01:10:35,680 --> 01:10:38,480
You can find and subscribe to 
the show on iTunes, Spotify, 

1106
01:10:38,480 --> 01:10:41,520
YouTube, SoundCloud, or wherever
you listen to podcasts. 

1107
01:10:41,920 --> 01:10:44,760
And if you have a Google Home or
Alexa device, you can tell it to

1108
01:10:44,760 --> 01:10:47,720
listen to the latest episode of 
the Epicenter podcast, go to 

1109
01:10:47,720 --> 01:10:50,880
epicenter.tv/subscribe for a 
full list of places where you 

1110
01:10:50,880 --> 01:10:53,120
can watch and listen. 
And while you're there, be sure 

1111
01:10:53,120 --> 01:10:55,560
to sign up for the newsletter so
you get new episodes in your 

1112
01:10:55,560 --> 01:10:58,680
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If you want to interact with us 

1113
01:10:59,000 --> 01:11:01,400
guests or other podcast 
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1114
01:11:01,400 --> 01:11:03,560
Twitter and please leave us a 
review on iTunes. 

1115
01:11:03,600 --> 01:11:06,080
It helps people find the show 
and we're always happy to read 

1116
01:11:06,080 --> 01:11:08,440
them. 
But thanks so much and we look 

1117
01:11:08,440 --> 01:11:09,600
forward to being back next week.
