hi this is Charles Hoskinson broadcasting live from warm sunny Colorado today is Saturday the 25th of April it's hard to believe that we're already 25 days into April it's hard to believe we're already four months into this year 2020 has been a unique year I think probably one of the most unique years in human history or at least in recent history they'll probably call this the Forgotten year because nobody really managed to do anything we all had to stay inside for a whole year a lot of things were put on hold but cardano's not and the project is going strong and you know every now and then I see some cool questions and our reddit or things that I see in the media and I want to elaborate a little bit more on them the crypto media I should say so this is a card on O focused video and let me go through a couple of things more than a couple but yeah why not it's Saturday what else do we have to do okay first Dedalus 1.0 is shipped and you guys may have noticed that there's a lot of press about it a lot of people talking about it you may have noticed a few comments and things like oh it instantly crashes or I'm having a problem here and there we've been digging into it and it looks like a lot of those cases probably a big chunk of them are unsupported operating systems so a lot of people don't read instructions they don't read the website text they just download and install and they expect everything to work right in a box if you are running Windows 7 if you're running Windows 8 or any OS beneath those we do not support those operating systems we're probably going to explicitly blacklist those OSS for the installers so we're looking into how to do that if it's a good idea or not but we we only support Windows 8.1 and Windows 10 so if you're running a Windows version that is not those Windows versions and you install Daedalus then then you know we're probably not going to work or if it doesn't work well you have your answer why not by the way for those of you say that's not reasonable I will remind you that wind support for Windows 7 Microsoft support for Windows 7 was discontinued January 28th of 2020 so our opinion is if Microsoft no longer supports the product then we probably shouldn't support the product either this is a slight inconvenience for certain users we even even gotten emails about why we don't have Windows XP support Bill Gates was still the CEO of Microsoft at the time your operating system was constructed you probably should download a new OS so anyway just just want to point that out that if you're having some issues there that's certainly probably at least one of the probable causes or likely causes of issues but overall we've had overwhelmingly positive feedback we've only gotten a few dozen support tickets and we will talk about the support ticket volume in the common complaints and issues that people have had but overall things are looking pretty good we still have gotten a few cases of where people are screaming sync times like 12 hour 15 hours or things like that and that's an anomaly as well because the vast majority of users are reporting sync times somewhere between the 50 minute - to our band with most of them sitting in the hour hour 20 minute range that's what I personally got on my surface to do it's what I got on my laptop's in that window around an hour I had all of our ambassadors you know people that we use to beta test this stuff our internal computers our virtual machines are all showing sync time on Windows in that in that band so I'm not sure we're 12 hours and 15 hours is coming from from certain users but we'll certainly look into it if we get logs and perhaps there are some rare configurations that for some reason are doing something weird but it's difficult to debug that and this is actually one of the frustrations of writing software for Windows is that there are literally a combinatorial explosion of different configurations of users so we can do is you just take an average sample and you say okay by building for this 85% will be a okay but then you have that 15% tail and it's such a long tail you could literally spend millions of man-hours of effort to try to mitigate things for all of them but at some point you have to decide where to cut it so we're pretty happy with the coverage that we have and what we're now doing is doing some dedicated intervention where we're trying to get a good sense of where these little issues are but it's important to point out that we've overall gotten an overwhelmingly positive response to Dedalus 1.0 and we know that people are upgrading because there's huge load on the relays at the moment so terabytes of data are flowing so that's a good indication that people are able to sync and we see the bit rates that people are syncing at so we can extrapolate basically what sync time looks like so from our end from the user feedback we've received and from the low ticket volume on the helpdesk it looks like Dettol is 1.0 has been a really great success and we're super happy about it as always whenever you do something there's always gonna be a long tail and some people who aren't but the vast majority of people are and that's why diversity matters so that for whatever reason there's still an issue then go to your ROI it probably will help you or for your windows 7 or below user then then go to your ROI and they can work on Chrome well I believe it also supports Firefox at this moment okay so that's that's the Dedalus update there was a few other things I noticed inside the reddit let me put my glasses on alright let's see here and yeah there was a question about ITN rewards to Treasury so where do those come from what do they do so yeah when we set up the ITN we mentioned that there's inflation every single slot and then that inflation gets divided into two buckets one are the rewards bucket which compensate people for the work that they've done so when they build a block they get a reward for doing that just like the Bitcoin model and the other goes into a Treasury parameter T and so that's just accumulating inside the system and when we activate shellye all those rewards get moved over the Treasury also gets moved over and then it starts a accumulating in Cardinal mania so as blocks are rated Cardinal funds inflation and transaction fees a proportion of those will go into the Treasury as well now there was a question about where do all the transaction fees go that are currently being paid on the Cardinal main net those are being burnt so those are neither gonna go to the Treasury nor are those fees going to us no one is claiming them for just unclaimed fees and they go into oblivion so that's a tiny small molecule I think it's about $50,000 worth of transaction fees throughout the life of Cardinals so far that guy being burnt reduces the total amount of ADA in circulation by that much and it's proportionately distributed to every single ADA holder so a little something there but I thought that you guys would like to I thought you guys would like to see that okay and there's a few more doo doo oh yeah the etherium founder stuff okay so this this one's kind of a it's kind of an interesting sore spot you know I spent six months of my life at aetherium from roughly December of 2013 January 2014 depending upon what you want to cut it to June of 2014 so not a lot of time six months the semester at college you know you know one of those study-abroad things you know it's like it's not a it's not a overall big chunk of time and I did great work in my view I think I I worked certainly seven days a week 80 hours a day it was a enormous frantic friend ever I slept on concrete floors I basically helped them navigate the the arcane details of setting up a Swiss entity I was in every meeting with every lawyer we discussed how we were going to handle the capitalisation component of aetherium designed all those components did a lot of marketing talk to the developers almost ever and kept 8 people together and I'm proud of that but it was only six months worth of work and when I left I left and everything that was beyond that that's on Vitalik and the rest of the guys and their success is their success and I congratulate them for this so I say often to journalists and I say often publicly that I would much rather discuss my time with I which Kay and cardinal then discuss anything about aetherium I'm frankly done with aetherium I don't want to talk about it anymore you know when you see articles that say Charles Hoskinson aetherium co-founder I didn't go to that journalist and represent myself as a co-founder of aetherium I am but that's never the case of where I led with that second my media people never do that it's the journalists always asking me and I always tell them the same thing if you really want to talk about it we can but honestly I just don't want to talk about it anymore I don't care it was a small part six months of my life and the work I've done with cardano's significantly more meaningful every single thing in this ecosystem I've had my hands on in some respect and had an opinion on and did work on and I took that same work ethic with aetherium to card on oh and I've had ten times as much time to make a meaningful impact the software you have has my DNA in it every single line of code in some respect is somehow connected to some meeting or some document or some email or some slack message and I'm proud of that I think the work we've done at card ATO is significantly more meaningful than aetherium and of course people immediately look at adoption and price and they said well aetherium has more users and it's worth more money so that can't possibly be true but wherever the goal posts are designing the foundations of a system that has the capability to run with a billion users the very fact that aetherium has to throw away everything and go to a completely new design shows that we did something they didn't do and we provided the research they didn't do so I'm I'm much more proud of that we're ahead of them we're moving faster in terms of our ability to deploy to market and we've managed things they have yet to manage and we're doing it with grace dignity and principles so I'm much more proud of that I'm much more proud of the time I've spent at Cardinal and honestly to the journalists out there please stop referring to me as the co-founder of aetherium I would much rather be referred to as either the CEO of input/output or a founder of Cardinal instead of the co-founder of aetherium it just it's not something I look out for it's not something I like there are three books being written about the history of aetherium two of them have been optioned for movies and probably in a year to two years depending upon when that happens the books are hitting this year and if their commercial successes I could end up having a movie where somebody plays me in a movie for something I did for six months meanwhile the thing that I did for 10 times as much time will not be in the spotlight as much unless Cardno achieves the same level of commercial success it's really annoying and I just wish they would stop I really do I don't want to talk about it anymore it's so emotionally exhausting it's it's pathetic and petty and some of the actors in that ecosystem have been difficult to say the least and they they seem to behave in ways or say things in ways that are very counterproductive for our entire ecosystem especially about my relationship with the project so why invite that toxicity and why in any way shape or form continue to go back to that well so if you see those headlines know that I've told the journalist not to do it they didn't follow my will and I'm gonna start adopting a policy at some point in the future where I'm just simply not going to discuss anything about my time at aetherium and I'm not going to give interviews to journalists who continue to refer to me as the co-founder with area just not going to do it anymore so if journalists want to keep doing this fine but they're certainly not going to get interviews from me moving forward I'm just I'm just done with it I'm here at i/o I love my company we have two hundred plus great people at this organization we're clearly shipping great where we've done the things that I like to do and I'm very proud of the work here and there's an unlimited amount of things to talk about about the work we've done and where we want to go talking about things that happen in 2014 and somehow trying to get to a fight of Cardno versus i ohk a cardinal versus aetherium it's very counterproductive you know a great example of this I did an interview recently with coin Telegraph and I spoke very frankly about my opinion about how things rolled out historically especially with theory um's development of caspere and nowhere in that interview wasn't intended to basically be this grand attack or something and it ended up being broken down into like a 3 part 4 part whatever article and it says Charles said they should have used snow way and Charles did this and this and and then it just got turned into another card on overseas etherium thing it was a historical question of well why was Casper so slow to market and I said well because they move at the speed of their founder and their founder was not a domain expert these topics and had to learn as he went and made a lot of mistakes and didn't have the right team that's a fact they started before we started doing research and proof of stake in 2014 and they've had significantly more resources significantly more people a much larger ecosystem and a huge amount of opportunity for academic collaboration you can look at the publication's you can look at the progress and you can look at the stain of f2 and realize despite having more money more time more people we're ahead of them in terms of our pursuit of proof of stake it's almost imminent Shelly's launch and there's more to come so that's just a fact and it's more of a question of well why did that happen and I offered an opinion of why that happened but instead it was presented as yet another Charles Hoskinson attacks aetherium type of article so it's it's deeply frustrating there and and it's got to stop and so will figures out something on our side but I just wanted to mention that to the community and it's in reference to also my tweet about which projects I'm proud of I will always be a co-founder of a theorem it was part of my life I'm proud of the work that I did there but it was a very small part of my life and in the grand scheme of things the success of aetherium is mostly due to the hard work of Vitalik and others not myself I've always been honest about that they were there a lot longer than me and they took more risk and they did more work and I'm proud of that I'm proud of the work that they've done I think that it's been mostly positive for the blockchain space when I see moral hazards like ICO mania or the flaws and defy that lose money of retail investors I point them out as they would point out problems and things I'd built if I feel they have existential problems for the ecosystem but it's just so counterproductive the way things are working okay a few more things let's see here there's doo doo doo ah the audit report yeah so another thing that came up was I noticed some threats attacking route 9b the auditor I have to make this one blindsided me we looked pretty exhaustively at the set of auditors that had people who were quite capable who could audit Haskell code who had a demonstrated track record and good experience and kadal ski JP route 9b there was a collection of people who have these capabilities we talked to them and when after several discussions with with route 9b we decided that they would make sense as an auditor for this round for those things that we wanted done now it's important to point out that routing IB has a lot of people at it and a lot of those people worked at three-letter agencies and their day job was to hack into national systems like Russia and China North Korea and their day job was to find extremely difficult exploits the things that go beyond your normal cyber criminal and they have a lot of domain expertise and knowledge and they were actually really excited about the process of getting into the blockchain space because traditionally they're a military and government contractor and they often do work with government agencies in the United States so this is exactly the kind of auditor at this state for Cardno that we thought would be worthwhile to bring in we already have an internal audit team it's called be cryptic and they come from RPI Rensselaer Polytechnic students there and they're quite good and they look at every ledger and they look at every line of code and those internal auditors find things all the time as we're writing code and we fixed that we also have a lot of cryptographers who work for us and domain info SEC if experts we even have a director of cyber security so we have our own internal audit capabilities the whole point of an external auditor is they add a layer of Independence and a dimension of disconnection which allows you to look at things a little bit different and you rotate auditors we've used grim we've used Cadell ski and we've used some independent auditors and we also used route 9b so it was very puzzling and surprising that some people on reddit chose to look into some prior history with Route 9v the auditor if you are in a very competitive industry you're gonna have a slime trail where there are certain outcomes that people didn't like too much and you know we of course during our due diligence process will ask a question or two about these things but at the end of the day the professionalism and competency of the auditors we've worked with at route 9b was never in question they did a good job they knew exactly what to ask and exactly what to do and there was never a case where we felt that the company was under skilled or rushing us or anything like that in fact they took their time to be very diligent so it was perfectly fine to work with them and I will remind people that Google is not your friend in terms of proper due diligence if you're looking for articles or statements about people you certainly can find quite a bit of negative stuff about me if you go to YouTube or Google does that then mean that IO HK is not a credible vendor does that in some way disqualify all the people who who work at our organisation it's craziness it's a hundred-plus person company that's baked Colorado Springs with deep competent government contracts which do require heavy auditing and oversight and in verification of claims and they were a great vendor to work with are they the exclusive vendor we're gonna work with no we're gonna work with many vendors over the coming months and perhaps years depending on if the contract gets renewed or not and you rotate them that's best practices but I just was blown away when I saw this article on on reddit it's like what was the point of this and if you read the audit report you look at the code you know the it's very clear that we got a clean bill of health there's more to do there's more to think about there's a lot more depth to go to and we hope for the next round that we can get to that depth and really showcase the power of what we've done and we love scrutiny because we always win when people scrutinize our code when people scrutinize our protocol design when people want to have an academic discussion about the design of our protocols we always win because we put the most time into careful thought design oversight and quality assurance our competitors don't they always collapse under pressure because they just don't think about these things they only have this much depth and when you go a little deeper they completely fall apart we are one of the few companies in the cryptocurrency space that if somebody came to us and said design an entirely new public key system or design an entirely new elliptic curve or go out there and to make something immune to quantum computers not only could we do it we could survive third-party scrutiny from both the scientific and engineering communities and domain experts in those fields for our implementation of that effort that's just the fact and there's a great example of that with Sonics we went and created a completely new snark very few companies have the in-house capabilities to do that and we fully implemented it and we're going to be showcasing it at the zk proof summit that's currently ongoing so given that we have those capabilities we really enjoy the scrutiny and so more the merrier in terms of auditors and route 9b was great okay let's see what else we got here I noticed there was a thread on reddit about Cardinal classic and you know I wasn't even aware there was a card on Oh classic and I guess there is a reddit we wish him well if there is one but it's not so easy to build a whole cryptocurrency and anybody who goes down that road I think they're gonna learn that very quickly having lived in the classic space myself I can give you firsthand experience about what happens when you do that the things you run into all right so anything else here that I wanted to talk about today how is code released after decentralization I gotta find some better screencasting software for live streams on Google unfortunately it used to be very easy to do that I could just directly present over the live stream but then for some reason Google got rid of that so the only way I'm able to do a live stream right now is to pre-record the video okay so let's talk about code releases so there is a huge effort right now at both I which Kay and the Cardinal foundation about how are we going to manage software updates after the Gogan and shelli era so basically right now Gogan and shelley we have a clear feature backlog and roadmap and there's consensus amongst entities of how to roll these things out and we really telegraph we let everybody know like with byron reboot you said hey it's coming it's coming it's coming we first deployed it on our side then we did the flight program and the exchange updates and then after that we rolled it out maintenance so you could kind of see every step and it was pretty clear and straight for it and the same thing will happen with Shelley so you know that very soon some announcements will be made about how we're gonna roll it out and exactly what we did with reboot will be followed Michelly a little bit more has to be done because there's wallet migrations and a hard fork and things like that but basically it's the same blueprint and Gogan will probably be done in a very similar way but then there's a question of moving beyond that how do we get to a point where software is built in a very decentralized way yeah so there's kind of two things you have to resolve there one you want to maintain some degree of development velocity you don't want to turn into Bitcoin where things turn down to like a snail's pace and just to do something like update the block size turns into a three-year debate so you don't want that to happen at the same time you want good participation you want a Galit arianism you want people all across the ecosystem to basically be a contributing writing update proposals you know giving good ideas you you want it to be meritocratic but you don't want it to be like a developer you know ivory tower we're only a small set of people can participate for example Bitcoin I'm not really allowed to participate there and great people on our team have really not had a great experience like Genesis in droves for example when he first proposed a NEPA powd to Gavin Andresen they laughed at him in the Bitcoin wizards this is literally the solution for scalability and sidechains on the proof-of-work side and he was laughed at he spent four years of his life getting a PhD in just this topic and writing paper after paper which has become the foundation of ideas like fly client for example and other concepts which are being taken seriously now so if a brilliant person who's a great engineer and a great academic who's contributing original ideas that are low-cost high-return gets basically kicked out of the ecosystem or laughed at then that tells you there's something fundamentally wrong with the mechanism of participation and of course the Bitcoin people will disagree with that but at this point I couldn't give a we've already had our debates and our discussions from the time I was at a theory I'm on we have received nothing but scorn criticism accusations of being scammers it's a pretty absurd and hurtful the things that have been said so they can live in their small little world which will continue to get more insular and continue to lag behind we'll go and innovate so how are we going to innovate in the decentralized way and avoid falling into the same traps that the past has so this is why we have the CIP committee at the Cardinal foundation and there's going to be a very nice presentation done by the CIP committee at the virtual summit where we launched Shelly and they'll talk about the things they've thought about and how that collaborative process is going to work to allow outside parties to write improvement proposals and we're also going to provide some presentations on governance in general and decentralized software our updates which is what we've been working on with guard time IBM Research in the European Union for the privileged project as well as some things that we've been building on the Volterra side and d'Or in particular we'll be doing a lot of status update there and what this will do is create a conversation within our community and it won't just end up as a conversation actually be productive meaning you can do stuff you can vote on stuff voting systems will be deployed sooner than you guys think and we'll make great effort and the ambassadors will make great effort so that people understand how the standards work and how to basically submit proposals within those standards and then over time as that system gets strengthened all future development of things that we're going to do post Gogan will transition to that standard process so we'll stop looking at Cardinal updates in terms of things like here's the Shelly era or here is the Gogan era we'll look at them as a collection of CIPS respectively and then eventually those CIPS will be ratified through a democratic process so it's a very complicated endeavor decentralizing the software development I'm also a big fan of potentially bundling something like get with our software so that the canonical source code can actually be controlled in a decentralized way instead of having somebody own the repo and have access to that repo that would further decentralize the the project but there's a there's a lot of work to do there and there's a lot of things to think about there and no cryptocurrency has done this right so ultimately we're just gonna have to put the flag in the ground somewhere and then we're just gonna have to kind of figure out if that's good enough or not and really there's a very simple test you can apply for whether it's good enough which is can we move forward are we able to update the system are we able to get good ideas do you notice that there's a diversity of ideas or is it the same five guys and gals talking again and again and again and again about various things and that's really a litmus test for it and so if we've built a healthy system then we should see healthy metrics and so it's very important not only to build systems but also have a discussion about what our diagnostics and meaningful metrics we can examine and track as a community together to make sure that we're moving in the right direction and then over time if we've designed it correctly just like with Aurra Boris you'll see gradual to centralization it's important to remember them when Shelly turns on we will be the most decentralized cryptocurrency in the world terms of consensus participation and probably over time and note count as well we have a lot of strategies for how to do that and that's a testimony to good protocol design and it's a testimony to how we've handled the ITN in the rollover from the ITN to cardinal to the main net so similarly our hope is to do the same on the government side and have high participation on the voting mechanics but this is certainly a it's certainly an endeavor takes a lot of work ok all right so those are the reddit questions and since it's a live stream let's take a look at some of your questions will a route 90 audit be done each version of what Boris know the route 9b scope was for today's code and what I like is the idea of rotating auditors so I would like to see some more diversity we've already had three I'd like to see some more and there would probably be one more audit before the end of the Cardinal 2020 and contract likely when we start pulling in the Gogan design outside of that if there are future audits that it would be probably prudent to do them on some sort of regular cadence like quarterly or biannually but that's completely contingent on whether the I which cake contract gets renewed or not and that's your decision as a community tar monster what happens to Cardno in ten years if 1 million tech monsters get to vote can't they evoke Cardno for just be the current system you're trying to escape sure and then we'll go and build a better system and we'll call it something else and we can do an airdrop and carry over all the reasonable people that's the point of these systems you have to trust people you see there's this concept with the elitists rulers Kings especially Democrat politicians where they tend to feel that people are stupid and incapable of self-governance and as a consequence they need a babysitter's they need a philosopher Kings to Lord and rule over the masses and then what they'll do is use the mass media to propagate the lowest examples of mankind the people who drink fish tank cleaner and the the people who have 12 kids out of wedlock and you know live in a trailer on blocks and say that's a representative sample of the people meanwhile you have concert pianists and meanwhile you have nuclear engineers and meanwhile you have retired astronauts and generals and all these people wonderful people millions of them every single society every single neighbor and they're smart and most more often than not I'm an optimist and I believe in people and I believe that collectively people will come together when they need to to find ways to do things when you treat people like they tend to not like you and you tend to get poor outcomes when you treat people with dignity and respect and you believe that people ultimately will do what's necessary for a system to survive then you will be pleasantly surprised more often than not so I don't think if we open up these systems the democratic process that somehow it'll become corrupted or self-destructive rather you'll have uncomfortable but necessary conversations about everything from where we want to go to why do we want to go there and there's no reason to fear these uncomfortable conversations this is not some elegant piece of art that I've constructed to put up on a wall and for everybody to admire and is only connected to my artistic vision you know this is a protocol for the people by the people to help everybody in the world do the things that they want to do from a financial perspective and the only way that works is if they have equal stake in it to the people who created it and that no one person is more equal than another we're all the same in that respect so I'm a big believer in that and I'm a big believer that while it's uncomfortable it slows things down in some cases you descend into unproductive conversations and you have digression eventually you get to the right place over time as long as you have accurate information and as long as you have the right incentives and participation the the reason why our governments are so bad right now is they built themselves in a way to maintain political monopolies and to disenfranchise people from participating and so then you end up getting the lowest common denominator type of candidate as opposed to productive people and productive ideas so the reason why our governments are not working so well is not an indictment of some sort of idiotic voting class it's rather an indictment of a political system rigged against its people to rob them of their authority in power it's an important distinction and it's something that we as systems architects can design against just like the founding fathers the United States built wrote a constitution to design against the abuses that they had witnessed with European politics that have historically plagued mankind why don't you appear with one of your colleagues on live chat why do you always work on one-man show this is an example of one of those comments that's actually trolling but it doesn't appear to be trolling so everybody knows that we're doing these monthly updates they're very diverse we have lots of people on them we have employees of Iowa HK and foundation and merge all the time appear on the card ah no effect in fact they're close to their hundreds episode we have blog posts written all the time by IO HK employees and of course there's tons of public law outputs and a lot of our employees are sitting in the telegram channels from Eric de Castro to others like Sam leathers yet somehow we'll just forget those people even exist and when I do a video on my private YouTube channel not the IO HK YouTube channel too and broadcast that on my private Twitter feed somehow this has to also be the product update that we do monthly and include all these others I which K people this is a direct communication for me the CEO to you guys and there's an opportunity for you to directly interact with me but no way is a representative sample of the entire company and there are other channels for that and you are aware of those channels but you choose not to mention them because they're inconvenient to a narrative you see I don't take from people guys I call you out when I see you it's not about being thin-skinned it's about demanding the truth out of people we should not excuse or allow people to lie and we should not excuse or allow people to manipulate or spread fun when we see it we call it out and that's just something that we all should do cherrylle thoughts on the bright mints leaving Tasos I've heard some things about that if they do then that's actually an example of Tasos as an ecosystem being stronger if you can survive if your founders leaving and going on doing other things and still be a vibrant great ecosystem then that's actually something real and so I haven't heard too much about that I just heard rumors about it but I'm not sure exactly what their involvement still is but it would be a positive sign from the ecosystem if they were able to leave and Tasos can still operate with a vibrant strong community and maybe it's an opportunity to refresh the relationship between Tasos and Cardno we have a lot in common we're trying to solve in some cases similar problems and we think about things in somewhat similar ways not always in many cases divergently but there's no reason for us to be competitors we should be friends and we should be collaborating where when it makes sense I think their personal hatred of me prevents that from happening but that's on them it's not on me when can I withdraw earnings from the hiroi test net that'll occur at the Shelley Hart fork and in a prior video I explained how that transition is going to work can you take a minute to talk about the minimum pledge for hosting pool one switching to main net yeah that's a good question so we're gonna do some dedicated content specifically about pledging and what we've learned from the ITN this is a question that has certainly come up a lot Rick asked me about it and I said look the best way of handling this is to take a step back and just talk about why the mechanism is there what we did with the ITN what we learn from n the feedback we got from state pool operators and then basically explain how we set the parameter that we're going to set with the Haskell network it's always a balance between DDoS protection and and - centralization the lower the pledge amount the more pools you can have so it's an interconnected than case decay and pledging can be reused for Hydra and pledging can be used for the voting mechanics that are soon coming so it's a very important parameter for variety of reasons and there's a lot of use cases for locking tokens for some particular purpose and you can even once you have a locking mechanism introduced punitive measures for example Kaspar has this concept of slashing or at least they had in historical variance of their protocol it's hard to know where they're currently at and and so it's something that shouldn't just be answered off-the-cuff it should be answered in a specific conversation about it and there should be an opportunity for some diversity of opinions so this is why I think the best way of doing it would be a card on effect episode or fill kevin Hammond and Duncan speak directly to Rick into to Phillipe and perhaps we have some of the state pool operators on as well and we allow a nice dialogue to go there so we're still trying to set that up but it'll likely kerf we do in May but it's a it's a little bit too coordinated all those schedules together but I think it's a wonderful topic to explain and explore and it does have a big impact on stick pool operators and the level of the centralization inside the system so it's not just a willy-nilly parameter that we should just approach that way and we have learned a huge amount from the ITN so it's important to explain what have we learned in a context of talking about that parameter [Music] Charles FA you had your shot of Lysol I suggested by Trump to potentially fight ko fit 19 Robert I saw that you know I watched the presidential press conference every day you know guys this is a great example of where when relationships get so bad that no one is willing to give anyone the benefit of the doubt and no one is willing to kind of listen from the perspective of what do they mean to say versus what did they actually say I it's almost like a divorce and then you have this divorced couple and they're bickering over the children and the relationship is so strained that any statement or action is viewed in the most negative light possible you know somebody could make a joke about you know driving their car off the cliff and then the other partner says oh well they're obviously suicidal I just heard that they threatened to kill themselves you know this is an example of that statement I don't think any reasonable rational human being would believe that ejecting lysyl or bleach into their body is a good idea you know and who knows these guys in his 70s he's tired he's been doing this every day he says stuff every now and then you say stuff off-the-cuff it you know ironically they were actually were treatments in 1940s and 50s to use ultraviolet light to clean blood contaminants it was called what was it called I actually read an article on it from a few years ago a friend of mine sent it to me I'll actually get the title for you oh yeah here we go it's from NIH yeah so ultraviolet blood irradiation is it time to remember the Cure that time for God so it was written by Michael Hamblin and some other authors and the article is from let's see what was the date on this abstract keywords I don't see the data it was it was not a recent article it was I think a few years ago but if you just google ultraviolent blood irradiation and the Journal of photochemistry and photo biology you can you can find that but you know it's like for anything can you clean blood well sure dialysis does that you know first and I think they can use it for sepsis you can do all kinds of crazy things and there's crazy ideas and you know if you hear a 77 year old with no experience in the domain talking about these things they're probably gonna not be very accurate in it if you give them the benefit of the doubt you're saying okay but if you're the media and you really hate the person then basically you're doing is saying this person is telling you to in check Lysol into your neck because they want political points about this stuff and I'm not here to defend this guy I mean I think the whole press conference has been counterproductive you know he couldn't go do rallies for his campaign so this is the closest thing to do and also the whole model of dialogue and communication is just totally broken you know I've often wondered why do they even have press conferences this way anymore why is it you have much journalists just shouting at the president and getting in combative fights why because it's it's Judge Judy you know they want conflict if they actually were serious about this what they would do is allow people across the nation journalists across the nation to participate and you'd have some code of conduct that they'd have to agree to and you use a random number generator to randomly pick somebody either in the room or across the nation and they'd have their chance to ask the question and then they either say all answer it now or we'll give you a written answer later those are your two options as the person answering it and there you go and you could do that you have very effective communication and if you have particularly journalists that are grandstanding of their or super combative that you kick him out of the pool these all they're censoring us we know we're not here for editorials these are informational press conferences why not do that and you find that you get overtime much better questions and a lot more diversity in your questions say because you're not talking to the White House press corps you could potentially be talking to a local journalist in Cheyenne Wyoming you know because you're randomly picking people and it's completely fair there's no bias in that particular system and you know it's okay to say we don't know or we'll give you a written response and then they have 24-48 hours to provide some form of response that would be an effective conference no we can't do that no it's it's just bizarre this whole this whole format it's not designed to actually communicate it's designed for politics and this is probably the most politicized event of my lifetime certainly more so than anything else and nobody really wants to actually talk about the facts and nobody really wants to actually talk about what are we really going to do instead it's how do we use this to benefit our agenda whatever that has Genda happens to be in those on the left view this is one of the best opportunities to transform American society and get things like universal health care or the green New Deal or whatever else is on their agenda item it's the same for those on the right there's plenty of political points to win and it's just one after another and it's so sickening because I live in an organization as a CEO where every day I have to worry about effective communication and I feel the consequences of ineffective communication things don't get done mistakes are made people don't talk to each other delays happen the shipping of the product consumers are impacted people lose money people lose their job we over pay for something double pay for something every time we have a communication mistake we are either wasting somebody's time wasting somebody's money we're not delivering as well as we could on an obligation of promise so we take it very seriously and we say can we build a better system can we communicate differently for example one thing that gets on my night it just bothers the hell out of me our update meetings are these large meeting when people insist on dragging 15 or 20 people into a room because you never have a productive meeting when you have 15 or 20 people in a meeting you got three people talking and 17 people listening and if you have a one-hour meeting you've just wasted 20 hours of everybody's time its one-on-one meeting stuff even Google got so frustrated with these types of things they created a video called meetings that don't suck it's a great video from Google Ventures it's still on YouTube you can listen to it so you know another thing is people not being prepared so we're gonna go and talk about a topic and you have a pre reading for the meeting you show up and half the people haven't read any of the pre reading so you know what Jeff Bezos does he forces people to sit silently and read whatever they were supposed to read and slows the whole meeting down just for that no one ever makes that mistake twice so I'm a bit of a fanatic these days about how do we improve communication how do we listen better how do we make sure that people actually understand things closed-circuit communications super important comes from having a lifetime the family in the medical business whenever my dad brother prescribes a drug to somebody they always asked a nurse or whoever's taking the prescription repeat it back to me why because you want to make sure that the person listening to you wrote down the thing that you said to them correctly or else the dosage might be wrong or the drug might be confused or something like that so closed-circuit communication super important none of these things are done iron Manning this concept of basically taking somebody's argument and repeating the argument back to them in a way that they would accept your representation of the argument or else your straw Manik you don't argue against the thing they're arguing you argue against the thing you want to argue against because it's more convenient or easy to propagandize around that this basic communication 101 if you emphasize it well you get stuff done you move forward it's one of the reasons why I do these AMAs so many CEOs are deathly afraid of communication in talking to their community it can be as high up as guys like Bob Iger it can be all the way down to other CEOs in the cryptocurrencies space you will never see my competitors have this level of openness and transparency they think to themselves oh god well what if I'm estates something or oh god what if you know somebody Sue's me over something I say so yes certainly a risk you can take but I tell you you have a much better chance of success if people actually understand where you're coming from and they understand what your intent is and what you're trying to do and directly addressing controversy or problems head-on and mentioning and talking about it than you do being a coward and hiding behind press releases and statements you know like this route 9b thing we could have ignored it we could have released a press release or you know whatever I just directly addressed it right here in this AMA it came up somebody talked about it I gave my opinion about it now you can choose to reject that or accept that or further question and as your call but that's where I stand and I think the world works so much better and this whole kovat thing and these press conferences are just a case study a great case study in ineffective communication the right people are not in the room the right intent is not in the room and the right information is not in the room and so ultimately it's a structure set up to fail and we should all be so so perturbed that some crazy things are said from time to time unlimited amounts of crazy things are said from time to time it has no bearing on your actual life we should be tracking key metrics every single day from the supply chains of PPE to the reusability achievements of PPE to their testing capacity and talking about those key metrics and talking around those key metrics and we should have clear understanding of who's responsible for certain things you know and that's another one of my big pet peeves and leadership if I see a product or project or an activity that does not have a clear person in charge or if it has a committee of people in charge I get pissed off more than you can imagine because if everybody's in charge nobody's in charge and if you don't know who's in charge then there's nobody who's accountable there does nobody can talk to you there's nobody who's actually going to be responsible for executing the plan so we look at things as simple as who is responsible for testing is it the state or the federal government and there's no philosophical agreement on this let's have that discussion decided on a bipartisan basis once and for all and then once we've decided that's it and it's no longer a debate and that it's just a question of the people who aren't doing the job how do we make them do their job better because it's not a game right now firing elected officials it's a game of just getting it done and it's not happening because again nothing is set up to succeed it's set up to fail so that's what I think about injectable I saw any update on the brand refresh with McCann's yes all that's going to come out with Shelley in the Cardo our website is the first major deliverable along with a lot of the USPS that we're going to enumerate so there a lot of content that's being influenced it's going to roll out May June and coming months Ramadan nurse hemodialysis cannot remove viruses or bacteria okay I thought it was a treatment for sepsis or at least they used it for something there I dunno it can remove contaminations but you see I stand corrected thanks for letting me know gene Pasteur see I'm not a doctor honey this stuff works you've been talking about diaspora many times as wondering if there any strategy to engage diaspora so for those who don't know that term diaspora or basically refugees those are people who've been kicked out of their country in there and somewhere else usually because of war or political persecution so for example after the Rwandan genocide you had millions of Hutu who fled into zyre Sudan has tons of diaspora you tend to see them in a consequence of genocide war or some other event and they're they're quite difficult to deal with because they tend to live in temporary housing shanty towns tents they need medical supplies they need money they need food things to survive in a lot of cases they can't come home and so they become basically political refugees and they're one of those nobody wants to play around with them or do anything with them type of populations so all the time the United Nations NGOs of their organizations are super interested in finding more efficient ways of tracking tracing and maintaining diaspora and hopefully in some cases integrating diaspora into the societies that they have been so usually when you see pilots or you see programs related to them it's connected to first identity and then some sort of payment system so how do we identify them and give them some sort of passport that is usable as a payment system and we submit payments to them and also use it to prove things like their medical history whether they received a voucher for something like food etc etc so could a lot of cases diaspora actually don't even have a stable identity document there's no breeder documents they won't come with driver's licenses or passports or birth certificates and it's in their best interest to present information in whatever way is most politically convenient to whatever country they happen to be in so if they need to be 25 through 25 they need to have six kids they have six kids whatever they have to say they'll say for survival purposes so getting accurate information is real real tough so in our case it's not a situation of where you know how do we get involved in that business there's there's well mourned enough opportunities for us to get involved because almost all these programs are underfunded they got a lot of demand and not enough supply it's just a situation where the money in dealing with diaspora is not so good you know you're not going to get crazy rich tracking and tracing refugees it's a it's the redheaded stepchild political problem of Africa and other places instead you have to look at it as a longer term emergent business opportunity so we certainly could do this especially for displaced diaspora in northern Ethiopia we have looked into Sudan as well and Somalia and a few other places and we do have some plans to do something there but it's one of those situations where we'll get around to it and what we'll probably do is do it after we finished our farmer voucher ideas so we've been bidding on a lot of farmers Avenue programs especially in Ethiopia and that's nice because the types of things you would do for smallholder farmers is very similar to the dyadic populations so one almost ports to the other it's a good question though Charles have you ever been to Portugal yes I have been I was in Porto and Lisbon and we had a great time there it's beautiful country we did in one of the I which case summits there not necessarily diasporas just a name for an ethnic group living in a new country location yeah but when people use that term they tend to use it for a displaced population you know nobody looks at some particular ethnic group that you know is in Afghanistan and say oh well that's a diaspora unless they actually got pushed in there like for example the the groups of people that got pushed into Pakistan after the American war against the Taliban you know we thats how we tend to use that term actually I've always had this mic it's just I wasn't using the mic completely correctly hi Charles any comment about the North Korean president rumored death hope he's dead horrible human being kim jongwan that whole family is disgusting people you know they are they killed people for a living they have concentration camps they start people to death intergenerational punishment sexual and physical abuse on a mass scale anybody who has a contrary opinion is murdered or tortured that's a leftover from the Stalin era and anybody who subscribes to that needs to go so it's a very good thing that's not us propaganda that's just how it is and the world would be a better place if one is dead and hopefully replaced with somebody who supports reunification and we can end or the darkest euros of the twentieth century for them yeah you're never gonna get me to say anything nice about them in fact I remember when some of the etherion people were going to North Korea it's like you guys are out of your goddamn minds as healin must Satoshi he built PayPal you never know could be Charles name your favorite Museum the Metropolitan Museum of Art in New York City wonderful place takes three days to go through it Charles any thoughts on Dan Larimer announcing he owes to implemented at a prize application without the need for tokens thanks for the four billion dollars how about a go do something else now Cheers it's like the Dolphins leaving the earth thanks for all the fish Chelsea Clinton or Ivanka Trump he said even a competition I think Ivanka's a lot better but I mean that's like choosing between a kick in the face and a pile of not really a big fan of the Trump's damn right I ride my horse everyday favorite video game you know my favorite video game I've almost done with the negotiations abut the damn woman's been taking so long but we're almost done I just gotta sign the final agreement it was legends of Valar now and this is from a historical context if he were to compare it to games today it would it would not it's like a very simplistic game but it was the first RPG that was in an open 3d world it was a DOS game and also ran on Amiga and it was just a revolutionary game for its time so you play this little character and he was in he decided to go to this big city called middle dwarf and because his cousin Sven told him there's a lot of great economic opportunities there and so the point of the game at least initially is to find your cousin and in an attempt to find your cousin you discovered that there's some sort of conspiracy see going on and so the only way that you can uncover the conspiracy is by joining a guild of each of the four types inside the town there was a magic kill their religious guild the Thieves Guild and basically like a mercenary guild and then what you do that you collect force calls to use those who summon a demon and the demon basically tells you how to save the old king and bring him back to power so I did all that as a kid it was like the early 90s and I didn't win and I was like why didn't I can't I win where's the ending for this game so anti-spy years off and on trying to figure out how to win the damn game and eventually I bought the clue book for the game and it was hard to find I had to get it off eBay uh and I read the whole clue book and it said oh by the way the game has no ending because they ran out of money and they couldn't quite finish it so they were gonna do an expansion pack if the game was commercially successful so I got so frustrated by this I actually reached out to the people who created the game and I'm buying the intellectual property from them so I will own legends Valar probably this month or next month most likely next month once we clear the contract and after you know carte danau and Shelley and all these other things I use as a retirement project we'll go and finish the goddamn game and I'll remastered the whole thing so everybody else can play it but and if there's ever a case for whether I'm Porter lying autistic or not this is probably the greatest piece of evidence for that if I can't finish a game I'll buy the game and finish it so so yeah that's that's that's that's one of my favorite games of all time legends of Valor great game really really enjoyed it it's nothing as of today but boy if I could remaster it it'd be a lot of fun to be mastering and you're actually game design and game design technologies really cool there's the unity is a great platform and there's just so many things that exist now that are so fun and there's a lot of innovation in the funding model of games like pillars of eternity for example and they're incredible success with Kickstarter is a great example of how once you get a good fall a good base of people you can quickly bring something to a fundable stage and use that to bootstrap the game and then you can you know get a second wave of revenue once the game launches also if you look at hell-blade and how off of such a small budget they were able to make high production values it really shows you the improvements in graphics technology and and things have really been great there so you can do a lot you can really do a lot and be a lot of fun by the way I wasn't the only person who played legends of Valor the guys over at Bethesda also played it when they were in their teens and that was the inspiration for the Elder Scrolls series so if you ever played Skyrim that's where that came from it's the spiritual successor the whole Elder Scrolls legends of Valor inspired all of that how about that are you going to change your reddit username to read your ties with etherium I don't even know how to do that I am really thought about that it's a historical thing cerium Charles card on Oh Charles I'll just leave it as it is I don't know if I can change it and if I can I will but I've never gotten around to it making games with the Unreal Engine is great I know Charles not a fan of C++ yeah unreal is another example of a great game engine there's the CryEngine the Unreal Engine the Unity engine there's a there's a few of these graphics engines and they've just gotten truly amazing there's a lot of coolness there now one really cool thing to do would be saying could you read a great game using unity with WebGL with dart and actually deploy it as a browser application and have a cool game there that'd be really interesting to look into you can also then use the electron of this or node as a back-end for it I don't know what performance would look like but those bindings go straight to near native code so they should be good enough tie the game into the card on a blockchain somehow yeah you can definitely do that especially for MMORPGs it makes a huge amount of sense because people spend huge amounts of time getting these in-game items and they trade them for real money so if you're gonna introduce a scarcity element and actually have those items be recognized on a blockchain and then tradable in that way then you can create an economy from it so it does make a lot of sense as a non fungible or fungible asset and a user driven economy to do that in a more old perche MMORPG so the crypto currency just enables the payment infrastructure and accurate accounting and also potentially offline transactions to occur so off game transactions to incur for that and there's some good money there in fact China gold mining was huge for World of Warcraft where even books written about that CEO of yose I think was involved in that at some point Brendon had something to do with wow gold or something like that I'm gonna start they fast any tips well glad tell me more about yourself you ever done a fast before any interest in geothermal pumps for heating yes geothermal HVAC is great going to be doing it here in the farm it's the lowest cost in terms of energy consumption way of heating and cooling your home great for radiant heat for floors and great for snow melt for driveways as well basically how the system works is that you dig about two meters underground beneath frost line and you have a constant temperature regardless of the ambient temperature outside and you put a whole loop array and that loop array will go about 50 to 200 meters depending upon the the amount of coolant that you are dealing with and then you either store or extract heat underground and all you really have to maintain is a pump to basically pump the coolant underground which is usually glycerin or water and then you can use it then to extract or to store heat city and it's a super easy system of 40 50 year shelf life they're a little expensive because you have to take this whole loop array you can either have horizontal trenches if you have a lot of lamp like I do or you can do vertical so you you put them to 300 feet underground with oil drilling equipment it's a one-time thing and the loop system is a closed system so it's immune to environmental effects and vandalism and they just worked great for litany of things and no carbon consider you're not burning any fuel or anything and it's really nice to pair it with solar as well so go to YouTube and Google you enter geothermal HVAC and you can watch some videos on how they work just wonderous things the average cost of a system installation for mid-sized American home is about 30,000 to 40,000 u.s. dollars for a place like this would be a lot more because it's a big farm it's 50 acres how was the hay farming hay farm use go well we're just just about to get a new irrigation system okay what else we got here I'll try Oh is equals AM D baby hey those new risin processors look great you know I said laptop processors I think they're the best ever made how's John O'Connor John Stone good John's a great guy he's said he's working hard he's actually in the weeds right now on a big big contract we're trying to win an Ethiopia for six million farmers that's gonna be a big deal if we can bring him to the Cardinal blockchain he's working on a lot of different things I love John a lot he's one of our best guys yeah Lisa sue really did turn hamdi around and their bet on fabrication it was great yeah until struggling I think was 10 nanometre and empties at 7 yeah and II just made every call right and I'm just super impressed with Lisa's leadership she's one of the best tech CEOs I think in the world and doesn't get enough credit you know she walked into a dyeing company that was competing with a monopoly and now she's making Intel look like a dying company that is only around because of its monopoly and she has these great innovative products and so I think lisa has done a phenomenal job the one area where I think NVIDIA has a slight advantage of the graphics side is that if you look at the r-tx design with real-time ray tracing long-term that's of phenomenal technology and I wish that AMD had something comparable in their roadmap but outside of that I think that they've done it just great work with the rise in line and it's a good company how's the graphene battery you ordered well I have it actually right here let me show you it's called real graphene there you go works great charges super fast I think it's I think this one's 10,000 milliamps yeah it's 10,000 milliamp so I charge at like 30 minutes and it just it's just a great battery never had any problems didn't get hot when you charge it so you gotta love that still interested in hydroponics everyday got him right over there growing some peppers those peppers are doing good too I'll show you guys the peppers once they're fully grown love to hear updates on John and Africa development that's a big part of differentiation what we'll probably do is actually have a commercial update and have Jerry fracas got those and John and the other business guys do some updates for you guys ever do aquaponics that's the long term plan but you have to start so I'm just getting into controlled environment agriculture and it takes a little bit of time when Joe Rogan post Gogan Rogan post Gogan thoughts on Elin must satellite internet yeah that leo Network StarLink is so cool because they solved all the problems it's high-bandwidth low-latency satellites not bad not bad at all so I'd love to beta tested last time you smoke cannabis never have never will just ever been interested in it did any the project on a theorem show interest to move on to Cardinal actually yeah we have definitely gotten a lot of talked to us it'll happen you know there's a road to commercialization these things happen so quickly once you actually start things rolling especially when it's clear that the f2 roadmap is not so clean and our roadmap is just beautiful and pristine and we're gonna make it very easy for people to move and when they have to do things that are complicated I'm sure we can find ways to blunt that nice artwork well thank you I like my artwork I think it's pretty cool complete press tour post Gogan well if the lockdown ends guys I'm sad I can't travel makes me really sad lot to do I was gonna go all throughout Africa have the rest team been reassigned yet yes they've spent over a month on a new project that is directly connected to Cardinal and we will announce that project at the Shelly virtual summit storm and horizon thoughts on both horizon I've really enjoyed I love Robin the rest of the team and it's been so much fun working with them storm you know I agreed to be an advisor but I never actually got paid and I never actually did anything so you know I I don't know if I'm technically an advisor or not but I didn't really do anything materially interesting with with storm I do know Simon you and you know I wish him well there's no bad blood there it's just there was just nothing to do whereas horizon we still actively do work from time to time with them and really enjoyed working with them they love working with Roman oleynikov and it's been a very productive relationship for a long time and that's a great example of a good product and a good project small but they certainly did do a lot of cool stuff if you ever end but Namibia let me know I've been in a Namibia they have strange plants in the desert do you play any musical instruments yes I play the piano not very good at it thoughts on the bitcoin having it's gonna happen Charles do know how to paint I'm working on it listen to Bob Ross all the time one of these days I must surprise you guys I'm gonna do one of these episodes and it's gonna be like joy of painting you're just gonna have to deal with it I'll have the Afro and everything in a cute little dog yeah any plans Friday which K to go public I don't know maybe we'll get around to it I was tomorrow I talked here probably about twice a day our best person by far she does amazing work too much work and commits to too many things and somehow pulls them all off I don't know how she does it gotta be a great CEO one day that Cal there's just some people you meet life in your career you know that they that they have a future and there's a few people an input/output that really fall in that category and she's definitely one of them Charles you handle 12 months in the Shu Shu Shu I'm not familiar with that acronym maybe I am maybe I'm not you and Chico you and I still have a boxing match get with the news Nevel get with the news that's like so old we haven't talked about that since December no way no how Charles do you like fishing I do Oh solitary confinement you know there we go yeah of course I could do 12 months of these I'm a mathematician and I meditate I can do 12 months in solitary I could do that are you still planning to go to Antarctica yes I am planning to go to Antarctica next year not this year gee molten tar monster just recently made a video trashing your coin I would be surprised if he didn't I love that he's making videos really makes me happy that they exist in the public domain and are admissible in court yeah he definitely did Oh secure housing unit yeah I know about shoes you know like for the military that kind of stuff ever been to Iceland yes Reykjavik is awesome hey Charles still doing some fasting much love yeah I'm just about to start a new one I'm gonna do a five-day fast starting on Monday Monday Monday Monday it's gonna be fun Hunter as Thompson lived in Colorado yes I've actually been to the restaurant in Aspen that Hunter as Thompson did cocaine off the table and the waitress there knew him personally and mentioned his work schedule he was a crazy guy absolute crazy guy but he was a special guy Charles no more shaving I I know it's like I'm under quarantine guys it's it's hard how rich are you rich enough to have to care so I can focus on philosophical things Charles is it true that there are no mistakes just happy accidents yes in the world of trees there are no mistakes just happy little accidents best steakhouse according to you as Jacobson co in Toronto Canada I when I go up to visit the guys at Poly or Tim or anybody else if I'm in the Toronto area always try to take him out to Jacobson Co incredible incredible steak highly highly recommended guys would love it ever been to Greece I have an office in Greece yes I've been to Greece many many times I love Athens and I've been all throughout the islands and yeah all throughout Greece in general when will you do another TED talk at the end of my career when I retire sorry I have a question who are you just a guy favorite tree weeping willow Zen mind beginner's book the Dow of poo it's a good book highly recommended would you now get a hawk in United States they're not allowed to own one you are just a custodian of it they have a whole hierarchy which is why falconers or wankers is it still okay to ask when Lambo yes sits right over there it's a Huracan LP 610 your identity solution well then I would be spoiling what tinel's gonna say for you guys come the ritual summit tacos or Pizza Pizza I'm Italian come on Pizza you hurt my heart you hurt my heart who's the real Satoshi does it really matter Charles will fill Wadler stop working for you after Gogan no I think I'm gonna keep Wadler on the payroll until 10 years after he's died just to prove a point I love working with that guy he does great work and there's a lot of papers to write and this smart contract computational model is academically super interesting and it's a deep deep deep well so highly highly highly highly highly recommend keeping him on the payroll and then unless he wants to go do something else we'll do that I love working with him Charles would you be in sitting putting in a bunch of illustrated art on card ah no for a children's charity I'm sure we can figure that out Buckminster Fuller yeah buckyballs the geodesic domes those were cool things there's actually a few of them here in Colorado there's one out and um URI there's a home that's built that are you really Charles no I'm Charles's body devil real Charles is out fishing can you help replace the worthless Argentinean peso with card ah no it's actually pretty easy they just have to stop taking the peso and start taking a de one person at a time Charles ever had poutine yes it's disgusting this is why Canada will always be the uncanny valley of America it's close but it's somehow it's not there and it feels disturbing sorry Canadian friends greetings from Slovakia well hello Slovakia Ellimist neuro-link your thoughts love it as long as it's secure I will definitely get it in version 2 just controlling a computer with your mind just think about how incredible that is just for a moment Charles ever had poontang yeah Charles are on having internship slots open and I which K that's an HR and chief-of-staff question and one of these days I think Tam will introduce a program for that we've had a lot of conversations about it it's just it's difficult to fit these things off when you're trying to also at the same time adhere to super tight deadlines so what we will definitely do that but it is it is something what we're thinking about Charles is the happening going to take us to the next Bull Run you know we're hiring a quantitative analyst just so I can get internal answers to questions like that in a more rigorous way I have my opinions about it but I never talk about price but we have to think about it because it does impact security in the industry as a whole Charles do you still retweet introduction videos yeah for pools that haven't done it I'd be happy to do that so if I missed you let Rick know he's my accountability buddy Oh have you ever eaten durian fruit yes I have it's terrible do not like durian fruits I do like passion fruit and I also really like star fruit it's my favorite and he plans for symphony of blockchain yeah will resurrect it at some point Ciao Italia I'm in quarantine in Milan ah ciao Klaus como esta male-to-male because the brain receive or produce consciousness are we like a radio antenna connecting to the global consciousness or is consciousness an epi ephemeral phenomena that is orthogonal to anything biological or evolutionary it's just a happy little side effect who knows Sam Harris and Dan Dennett certainly have some opinions about that looks like you use Botox Oh screw you man 32 I don't have that many wrinkles I am getting old greetings from Denmark well thank you Denmark any movie recommendations hmm I highly recommend watching the Dark Crystal and then watch the Dark Crystal series something light-hearted well addressed we have replaced Jormungandr for the main net they are totally different things Carroll is how do lion's mane as a suppository I just can't I take them as tablets favorite scene from there will be drop blood drainage Eli boy drainage I drink your milkshake come on that's the whole movie built up to that scene although bastard in a basket was pretty good too are you doing any work for Stephen Wolfram I'd like to we're trying to figure that one out we might be able to bring him in through the back door good morning from Tokyo from Ruth Chris yeah that's a great steak house and I know exactly who's talking we had a lot of fun there for the one-year anniversary of car Don Oh a lot of fun thank you so much for having us Charles how do you stop boldness happening to me I'm gonna lose all my hair I have no control guys sorry macchiato neither florentine look at that one up yeah Charles what's the update on GA CJ's we're working on it we we push commits every week in fact the guys behind that project all work for us now we're working on getting the address dia to have a native JavaScript port from J CJ s so there's a lot of progress that's been made there and I'm never gonna take drugs for hair if I ever lose it I'll just shave it go bald ain't no shame Bezos pulled it off any partnership Samsung we were gonna have some discussions with them but those got cancelled because of corona do whatever de lijn did to get his hair back it was called hair plugs that's what he got he got hair plugs yeah the surgery had hair plugs put in should we class-action China for damages yeah that would be really interesting wouldn't it yeah pesos I think he's going down the vampire out there north of Eden all right what else we got here guys this is fun you guys having fun I'm having fun cherrylle thoughts on Justin son buying steam just think about that for a minute a coin that's a copy of a copy as using Dan's consensus algorithm somehow has unlimited money I don't know where it comes from uses that money to buy one of Dale Amber's abandoned children it's a crazy crazy situation I don't know are those paintings originals do they look like originals they're paintings I like him though Charles was the name of your horse there's two of them misty and Jameson in other news it's my 30th birthday well happy birthday Brad will you ever run YouTube ads with a Lambo if you guys see that sell all your Aida something has happened that's terribly terribly wrong I think people get too caught up in material things Charles thoughts about the class-action lawsuits against maker Dow it's an example that just because you construct a defy application the D in the fie doesn't somehow indemnify you from liability or regulation and if there are any mechanisms where you have material control over the operation of the system you are exposing yourself to liability and if your counterparties lose money at least one of them will sue you at some point it's just what happens it's why these systems need to be decentralized from the start and also it's just an example of what happens when you pair innovation with risk you have to be prepared to take the risk in business you will get sued there's no if ands and buts about it if you're doing anything at all of any prominence involving money people risk somebody will sue you somewhere just happens and you deal with it [Music] today Charles where and how do we send logs me still going the HK helpdesk Dedalus wallet do has instructions if you can't find those instructions in the Dedalus wallet itself think quantum computers will break sha-256 this decade now that's not even a meaningful problem to work on my dad died because of Corona well I'm sorry to hear that do you think Corona will destroy the system completely No do you know wim hof yes the Iceman yes and we'll be training with him when available cherrylle thoughts about the negative oil prices well this is one of those classic examples of where you have an artificial market so oil didn't go negative the futures contracts went and in particular the ones that people were forced to take delivery for because we had a situation where no one was able to take delivery and so they actually had to pay somebody to take it off their hands to store it so if you actually looked at contracts a month later they were not negative so it was just a Black Swan event but it is an example of what happens when you have a missed timing of capacity and market dynamics but a general oil is becoming less and less attractive ism an investment and the oil and gas industry long-term is probably not going to preserve the prominence that it was had in the 20th century there's just too much of it I remember in 2008 I used to be an oil and gas business I remember in 2008 everyone's talking about Peak Oil writing books about it Goldman Sachs was sending these investment newsletters out saying it would be a $200 a barrel and oil there's videos on YouTube about how we're all just gonna run out of oil and then you know 12 years later we have a carton of oversupply and we can make as much as we want and we have reserves that last hundreds of years so you know it makes you start questioning these experts because people who are so smart they know everything right and they can tell us what's going to happen in five years the reality is that the energy of motility is changing and you know I and I had a friend in the oil business used to work for Exxon who told me Charles you know the oil and gas business knows it's days are numbered when you start seeing hydrogen cars being seriously discussed because that's round two for the oil and gas industry there's two options battery or hydrogen and one of the others gonna win and because of guys like these it looks like battery is gonna win big just the physics makes so much more sense and the consumer experience is a lot better but but anyway hydrogen is basically fossil fuel 2.0 so they make the hydrogen from natural gas or something like that and they use the same distribution channels they use oil and gas at the moment and then you pump it to your tank just like you pump gasoline into your tank so you're trading one thing for another thing and sure enough we're starting to see a lot of hydrogen car prototypes and commercial ideas being pushed to the marketplace and a lot of them are being sponsored by the oil industry but also ultimately I think Tesla has really shown that their days are numbered and in 20 to 30 years battery power cars will be probably the dominant energy of motility because again it just makes sense from the physics if you can go 2,000 miles on a single charge and you can charge your car overnight when you do need to charge it you don't have range concerns and your cost to charge up your car will be an order of magnitude lower than oil will ever get and that energy will be generated in an increasingly cheaper and cleaner sources that do not require fossil fields so I just don't see how the economics makes sense it also battery power cars are considerably simpler than internal combustion cars it's one thing just to store something in a uniform way so another thing to have a power plant built into your car to generate electricity so these are these you're just much more efficient much simpler systems and it makes a lot more sense to have battery powered cars so I think a long term it's gonna be great I mean I like my combustion I have diesel truck I have a sports car that has 600 horsepower and a v10 engine and consumes gasoline like crazy I just filled it today 20 gallons 1n premium feel only $44 to fill it so it shows you how cheap gas is getting so I love these old engines and I love the sounds that they make and I love the experience the heat the visceral thing on the other hand you know the new roadster is gonna come out with 500 horsepower and 0 to 60 in 1.8 seconds my car goes zero to 60 in three seconds so so you know it's like the best you can buy right now in the market there's only a few that are better and you know musk is gonna deliver something that's basically twice as fast it's crazy it's absolutely crazy so batteries are here to stay if you play tennis know everything of writing a book yes I will write a book as a closing book for when I retire from cryptocurrency industry Charles can you recommend any books and applying scientific methods to everyday life yeah I'll tweet something for you guys I'll look through my library and see which ones I like the most it's actually true is this one of the biggest lies ever perpetuated oil is not finite so oil you can actually have unlimited amounts of it because it is technically renewable you can literally make oil from the air there is a way to do that there's a company called carbon engineering that it has the ability it's called carbon air capture and you can upgrade that with enough energy to produce a barrel of Syncrude if you want to so it's not a question of is there a finite amount of oil or an unlimited amount of oil you can make it you can make it from lots of things okay you can make it from garbage it's called thermal depolymerization so there's a lot of things you can do with the oil the question is energy so is it energy positive or energy negative if you suck it from the air you will get less energy out of it than the energy you put in so you're having to generate that electricity through another source so for example if you had a nuclear power plant you were using it to do that you're getting it unlimited cheap energy source and you're using it to create an energy of motility that actually might work and in Canada they we're doing that they were building for three and a half generation so late third generation nuclear reactors called Kennedy reactors to refine the Syncrude and to do in situ extraction of Syncrude from oil sands a super energy intensive process normally they burn natural gas with that so there's all kinds of ways you can play with this and you'll never run out of oil if we want to keep it you just never do that but it's all about where do you get the actual energy from negative from the Sun do you get it from fossil fuels do you get it from nuclear you need a backbone to be able to continue doing that and does it make sense to use chemical energy as our storage mechanism and given that battery chemistry is getting really good and we're getting a supply chain where we can recycle the batteries it doesn't make a lot of sense to keep using that type of energy and there's better ways and more environmentally friendly ways of doing things and it's coming for a guy the oil business who used to be in the business Charles what does it brand on your graphene battery it's called real graphene what do you think of thorium reactors thorium reactors are quite good I'm the big fan my favorite design is the traveling wave reactor because I love the idea of using uranium 238 and also there's a lot of really cool breeder reactor designs the problem with them is historically they've been banned because of cliff eration concerns Charles will you be visiting the Netherlands again I was actually going to go to the Netherlands in March to train with wim HOF and that got cancelled as a consequence of the European ban favorite Beatles song Hey Jude thoughts on zero-point energy don't understand it can't comment on I don't know enough about it what kind of math do you need to understand cryptography number theory it's a good starting point Charles what is the secret project IOH key is working on it's a super secret project and it's super super awesome and it's just as big as cardinal how about that and I'm not gonna say anything more Charles what do you think about Bitcoin moving the POS yet hell will freeze over before that happens there will never be any major innovation with Bitcoin just doesn't happen it's not who they are all right all right kids that's good enough for me take care everybody
