hi everyone this is charles hoskinson broadcasting live from warm sunny colorado always warm always sunny sometimes colorado although it's been that way colorado for almost a damn year can't wait to travel again one of these days that world's gonna open up again boy it's gonna be fun opening up got a lot of daps to build on cardona a lot of deals to make man i'm excited this is going to be a good year 2021 i'm very excited about this year last year was tough it was tough for everybody but you know what politics are over you can tell that they really want them to still be here but they're starting to slowly recede the pandemic is slowly receding people are getting back to their lives you know nothing is forever everything is finite best lesson i ever learned and it's a lesson that metallic gave me and thank you for that cardano's doing good making progress uh decentralization metric is uh starting to count down again uh d is going to equal zero here in march and then it'll be long behind us and the hybrid shelly phase is over and then we're basically completely done with that part of the project we got uh the mary hard fork i think that's uh that's coming in february so look for that gonna have product update at the end of the month we're always scaling always building latest person to join the iohk family is lunatec they're a uh european software development firm they've been around since 1993 and they're currently working on some etc related things but they're domain experts in scala we're going to look at them for a potential candidate to work on the devnets uh for cardano as well because right now it's a face-off between the rust code and the scala code for which one gets to be permanently part of the devnets so working on that a lot of progress on plutus of course uh those guys are just so excited and they're working so hard and we're really excited to see all the other little things hybrid wallets are coming partial delegation is coming uh we are right now working on our go to market strategy for the first half of this year for smart contracts and all the cool things that are floating along the way a lot of commercial deals uh people want to come to cardano they're begging us they say oh man cardano's the best ever we want to be part of that family how do we get some of that and it's just the beginning so uh so there you go anyway figured i'd do an ama it is sunday sunday sunday sunday january 10th 2021 the world is on fire everything that could go wrong has gone wrong uh this week politically speaking i've made a lot of videos man uh you know i was talking about the nature of free speech i'm the least popular guy around because i'm bound to piss somebody off somewhere about that and of course uh litany of other little things but you know you got to stand by your principles even when they're inconvenient and of course you guys have had a lot of fun uh and uh really cool to see what's been going on with catalyst and voting fund two has come to a close we'll do a post-mortem on it i think uh the payments are gonna go out here in a little bit fund three is opening up long live fund too long live fund three and uh it's gonna go like clockwork we should get a fund every six to eight weeks and the voting experience is going to improve uh we're also scaling up the set of people that we're working with on catalyst we're bringing some governance consultancies in so there's some people working on dcf some people working on catalyst and eventually they're going to meet in the middle and we're going to have one of the best governance systems around i think for any cryptocurrency which is far far better than anything on market speaking of governance speaking of governance uh perhaps you guys heard that a certain somebody left a certain blockchain company today um you know we all kind of know each other in the cryptocurrency space uh people go around build cryptocurrencies and uh people have their entrances i've met charlie lee and roger ver and i've known dan since 2013. i've known vitalik since 2013 and uh you know we're friends and enemies in a certain respect you know we're obviously building competing protocols but we're friends in that philosophically we're supposed to be part of the same tent we all believe in the promise and power of cryptocurrencies and some people have their entrances and some people have their exits and dan i think has never found a project that has quite fit him in a way where he sticks around for a long time i've been at cardano now for six years and i cannot wait to see if we can make it another six and uh they're productive years and you know eos i think dan was there for about four and he certainly put a lot of work into it it's a big community big ecosystem the problem is they raised too much money and that's what ended up defining the project you know had they just upgraded bitshares or they did a much smaller offering i think there would be a small but incredibly evangelistic group of people that were real excited about what they did but the project is a functionally defined by just having billions of dollars laying around and in assets it's not even of the project so who cares if they get adoption or not they're made men for the rest of time so no matter when dan left if he stuck around for another 10 years people still call in an exit and they'd still say eos didn't accomplish its lofty goals so i don't know what he's going to do next and i know a lot of people are running around and some shot in florida you know and i don't have any there because at the end of the day if eos fails a lot of people get hurt just the same for xrp and one would hope that these projects can find ways to survive and thrive and that the people who have invested their hopes and dreams into these projects can be made whole and they can have a good experience and they can get some value out of it you never delight in your competitors or different ideas failing because those failures do hurt people and just be around to see if you can help where and when it makes sense uh but uh it's an interesting day in that respect you know i knew this was coming having with steam happened with bitshares and i was very surprised when eos came out that the technology of the cheers is so close to what dan wanted to do with eos why not just hard fork it and upgrade it why did they need a completely new system especially after they had achieved decentralization and they had a working treasury model couldn't they have used the hype cycle there just to do a kind of like a season equity offering type of thing extended monetary supply never understood that but anyway it is what it is the project is where it's at communities certainly not had kind things to say about me and uh that's okay travelism always exists and uh you know we we all pick on each other but no more so than the bitcoin maximalist pick on everyone else and they literally call us criminals and horrible human beings and have no right to exist and haven't contributed anything it's funny you can spend nearly 10 years of your life in an industry building things and continue to grow things and evangelize it and to have half of the industry basically say every single thing you've done it means nothing you know dan larimer for all of his faults as a human being and our disagreements personally and professionally he was the guy who came up with dpos he was the guy who came up with dows along with his dad and myself and he has made some meaningful contributions to the industry and uh bitshares was probably the first algorithmic stablecoin i'm not aware of any other project that predates it that accomplished the things that the chairs accomplished and steem was an interesting but flawed attempt to bring about change in the curation of content and social media in many ways it was ahead of its time the flaw in all these projects has always been that they weren't opened up to external ideas they're you know with a cardano one of the starkest contrasts here is that i have very strong opinions about how certain things in the tech world need to be done or the science world need to be done but you'll notice my name is never on any of the papers even if i contribute to them or talk around them or think about it with the scientists they have their domain i have my domain and we open up a collaboration in a way that things can change for example with cardano we didn't know in 2015 if it was going to be a proof-of-work or a proof-of-stake system we just didn't we said well let's see where the science takes us so we had a group of people working on proof of work and a group of people working on proof of stake and i had some opinions but i said well we'll just see what happens and it turned out that we could build a great proof of stake system and we did that with the oro boris agenda what this does is it gives you the magic superpower of refreshing the idea flow so we keep adding scientists we keep adding new viewpoints we some people leave some people come in and it makes the project so much more decentralized once you've opened up the academic world since we started this company written 92 papers now 92 imagine that uh and a lot have gone through the peer review process i think we generated well more than 10 000 citations probably 20 at this point i'd have to add them all up and as a consequence that corpus of knowledge uh is part of the commons it belongs to everyone it's cardano's gift to the entire cryptocurrency space and the people who keep adding to that corpus of knowledge some are tenured professors made men and women in the academic world some are post-docs people wanting to be made men some are graduate students but they're mostly faceless in that they come and they go and they come and they go and there's a process to add them and remove them and that's one of the superpowers of cardano is this innovation engine that is not reliant upon a founder and also an admission that we haven't solved every problem there's still huge problems to think about in the world of scalability huge problems to think about in the world of governance huge problems to think about in the world of interoperability and so forth and each and every one of those collections of problems we've had a good head start or we've made some meaningful contribution but we are humble enough to acknowledge that we didn't solve it my great umbrage with the eos project has always been this concept that gods living up on olympus have solved everything and they know the future and all you have to do is just invest in them and that they will somehow some way to give you that future what happens when they leave you know what happens when they get it wrong and what mechanism tells you that they got it wrong the claims that they made are not there we have the peer review process as our independent check and balance we have security audits as an independent check and balance there's a dozen or more of these things the fact that we collaborate with more than 10 software companies to write code means that we have to explain how the code we've written works to them and then they have to be able to add to that code so what that does is it keeps us all accountable to what we claim is true and i think that's the only way to go forward and avoid these projects from descending into a cult of personality so while it's a short-term harm to eos i think the departure of larimer is actually going to end up helping the project because it's going to force them to be a bit more open to new ideas and different ideas they won't be so reliant on one particular philosophy for engineering and science and perhaps they will use this as an example to work with others in ways they haven't worked with them before they have so much money that they literally can buy whatever they want just not credibility can't buy that there's no price tag on it okay let's get to your questions why you don't publish your technical content on official cardano channel we publish it all the time it's on the ihk website it's uh obviously the forums telegram it's on the github repositories uh everything is open source everything is open to external review there are no patents there's no intellectual property it's all open source licenses creative commons so so they're all available for publication so yeah and i think cardano.org also has a litany of information and there's also the documentation so that's just simply not true to say we don't publish your technical content on the official cardinal channel who is the smartest cryptographer you've known um in terms of just raw ability and and horizontal breath i'd say probably dan bonet um he's he's an extremely bright guy and he just understands everything and there's an elegance and simplicity but profoundness in the writing that dan has that i think is extremely powerful um in terms of impact on the industry as a whole or cryptography as a whole i'd say silvio mccauley and addie shamir tie for that i was actually on a panel with both of them they invented like half the stuff that we use and they still publish in their minds they're incredibly sharp in terms of the best scientific administrator who is both capable of making great contributions and then at the same time is is capable of leading scientists in a very humble productive way which actually i think is the hardest and highest art of science is our chief scientist aguilas um it is not easy to deal with other people's egos and it's not easy to mold and sculpt young minds and have enough patience to allow them to grow into productive older minds as you watch arrogant graduate students who think they're hot you somehow have to make them proper academics and get them set up so that they can have real careers and care enough that the outcome is there it's difficult to be a great researcher a great administrator a great educator and also surviving university politics and i haven't met anybody in my career who's better at that than agolos is and you can just see it his former student bin chang for example has now gone off and has his own academic career but we collaborate with him and he designed the entire catalyst treasury system another one of his former students the unesco syndros invented the foundations of side chains for proof of work the whole nipa powers concept another one of his great students han chang is now floating around the american academic circles and he's written a lot of great papers so what's so cool is to see his students have become great in their own right and it's so hard to do that as a great academic we look for example to einstein and we say oh he's such a brilliant physicist and of course he was one of the greatest in human history but you look at the pedigree and say well which one of his students has really gone on to do incredible things and you compare and contrast that to other titans and the 20th century and you realize that in that particular department wasn't as great as himself and so i tend to judge the whole ism about all of that and i think that aglose has really achieved that balance and actually i think his work is going to in the long term be just as meaningful as silvio and addie shamir's work because in essence he really did solve the proof-of-stake problem and should this work out on an industrial scale it's going to run on economy of billions of people and he invited an interdisciplinary approach the group has economists it has game theorists it has programming language experts it's very uncommon to see that usually you have a narrow scope a narrow silo and you optimize with that in that to get academic brownie points to invite interdisciplinary papers is an academic risk and to be able to pull it off it means you make far more meaningful research which ultimately changes things um will decentralize exchanges kill centralized exchanges i think in the next 10 or 20 years it's definitely a possibility you know it's uh a better business model it's more aligned with how crypto assets work you don't need a trusted third-party custodian the problem is there's just front-running efficiency fees market depth and liquidity so you know a lot of problems there and so it's really really hard to get at a centralized exchange working on tandem with uh centralized exchange but to be honest these centralized exchanges have made enormous progress in the last five years when i started it was a pipe dream but now it's feels like an inevitability charles tesla roaster or a cyber truck why i i want to see the new tesla roadster i haven't seen it love fast cars but um it's going to be an interesting thing i think you can take the roof off i i really sad it's not a convertible you know if you like supercars this is the worst time ever i think in the industry to buy one uh because all of the prior supercars are gonna be about half the speed of the battery supercars but the battery supercars aren't gonna hit market until 2024. so you look at something like oh here's a lamborghini aventador wow that's so incredible and they have this new stuff that's coming up that's going to do zero to 60 and 1.8 1.7 seconds and it's like 1200 1400 horsepower just like wow wow that's so crazy so it's going to be really fun to see what the seon does and all these things especially as they they go into production usually what lamborghini for example does is they'll do something like a super expensive low volume lamborghini and then they do a mass market one so for example the reviton preceded the aventador but the aventador styling and design was very similar to what the reviton introduced so it's going to be very interesting to see what that does the roadster is obviously going to change the supercar entire market we kind of got a a sample of what that could look like with the porsche 918 but yeah it's going to be interesting it's going to make my huracan look like a toy just sad still pretty though africa special i haven't announced it yet waiting but we will we might have something good at the end of the month though i don't know unrelated to the africa special but something else i think you guys would like we'll see i'm i'm a skeptical pandit people keep promising me things at certain dates and they don't happen you know welcome to this uh this industry the koenigsegg those scandinavian engineers i'm norwegian for god sakes quarter norwegian and i still pick on them uh yeah they make incredible cars too overpriced though uh what's in your pockets markers why these aren't markers these are lamy pens my favorite pen they write incredibly well they handle cursive very well and they're also quite nice for mathematical symbols and so i developed a taste for them over 10 years ago and i've tried to keep them close to me although there was a time when i couldn't afford them very perceptive that is a waterhouse as a man of science if i get my head frozen upon death any chance i can actually come back well hypothetically yes odds are no um i think you probably have a much better bet of cloning yourself and then just uh imprinting a similacrum with enough information about who you are that the clone can get a a close approximation there's probably a better chance of that consciousness transfer who knows we'll have to understand what consciousness is all about what was the purpose of next cryptography ah you know you guys dug in there huh next cryptography was a company that i founded right after i left bitshares and it was going to be the next organization i worked on uh but then i ended up getting roped into ethereum and i never ended up using that corporate shell and of course we did something different with iohk because it was a hong kong company when we founded it after ethereum have you read neuromancer yes good book what do you think of the pagani design too expensive and not enough bang for your buck i mean honestly the mid-engine corvettes they're like under a hundred thousand dollars and they can give a hurricane a run for its money supercars ain't what they used to be they're just penis extensions now rng random number generator your view please a number generation random number generation that's like a whole field of cryptography what about it be more specific in your question that's like asking um what's your feel what's your view on fields or groups or rings it's like okay well yeah there's there's a lot of cool stuff talk about gowa theory if you want be an american get a dodge viper and then have a dodge viper that needs to be repaired and then then have a dodge viper in the shop they're terrible cars dodge vipers terrible is the market crashing right now what's going on we have a newbie somebody who's never been in crypto before welcome to crypto pull up a chair [Laughter] goes way up goes way down that's what crypto does it's very volatile uh yubikey support coming it is definitely in the plans uh we just got to accelerate what we're doing with uh with daedalus i would strongly strongly strongly strongly advocate getting it out sooner rather than later but it certainly is taking some time but we'll get there okay well i'll just use my mouse just died for some damn reason what is the goal of cryptography you know cryptography is really the science and art of secure communication uh you know when we want to communicate with each other we have a lot of features of communication that matter so you think about cena you think about confident confidentiality you think about integrity of information you think about a repudiation or non-repudiation you have to authenticate information these types of things so for example when i say i signed the contract well how do you know somebody to replace the contract with another contract for example uh a will you know uh yeah i give all my money to jane but then you switch the will i give all my money to bill well how do you know that the jane one was authentic over the bill one right well that's the point of the field of cryptography you can hash the contract and then you have a digital signature so you have an authentication mechanism for that information and then the digital signature allows you to validate that that was indeed the will of the person and maybe you want to keep it secret until a particular period of time okay well that's what encryption's about right timed encryption you say okay uh we're not going to reveal that secret decryption key to see what was in the will until after i'm dead or after this date or something like that after the children turned 21. okay for example you could imagine a government for transparency has a automatic escape valve to declassify all of its data on a certain date with a dead man switch that's the point of cryptography and the goal is just basically to give you a toolbox that you are able to achieve your privacy goals your availability goals your integrity goals uh your authentication goals given an adversary so an adversary is someone who's trying to get early access corrupt the file trying to change the signature change reality learn your secrets whatever that might be what a cryptographer does is the hypothetical metaphysical adversary they give them certain capabilities and models so they say oh okay they can do a chosen plain text attack or chosen cipher text attack or this attack or that attack and with these capabilities they build a model that shows whatever they're thinking of is secure so for example we'd say okay modern cryptography is secure in the classical sense however if you introduce an adversary with a quantum computer perhaps this breaks some forms of crypto there you go and so that's what cryptography is all about so it's you always start with a goal you have a use and then you have an adversary and then you kind of try to prove around what you can and cannot do and you look for impossibility theorems and you look for you know clever constructions and hard problems and it's deeply connected to mathematics because a lot of cryptography involves the symmetries where something is easy to prove but extremely hard to discover so for example public key crypto relies on you having a trap door that that's your secret key something that you know that's connected to a public piece of information and it only goes one way you can go from the private to the public but not the public to the private and so you look at like factoring of integers that's an example of the secret key it was the earliest one of the earliest ones to discover where you know integers can be uniquely decomposed into prime multiples and it's called the fundamental theorem of arithmetic and so 15 for example is 5 times 3. there you go we like uniqueness and number theory so that's one of the reasons why we decided not to make one a prime number uh you know chorus we'd always have to say excluding one right you lose uniqueness because you have infinite chains of ones there so unique decomposition of integers well it goes easy one way if you take 3 times 5 easy to get to 15 it's computationally very slow to go the other way to take 15 and break it down at 3 times 5. you don't believe me tell me what is the integer factorization of 2 to the 1732 power minus 1. there you go you go ahead and tell me that you know take a little bit of time surprisingly long time but if you happen to have the factorization you could quickly multiply them together and prove that it's there so you use something called the euler totient function and then suddenly you can start constructing this elaborate series of key pairs where you have a secret and the adversary does not and then as a consequence you can encrypt things and decrypt things based upon what you know what you share so these mathematical constructions and the proof that things are hard uh that's uh that's really the the tools of cryptography along with how to build proofs and do analysis and you can what's so cool about it is a very interdisciplinary field so these mathematical tools can come from any field of mathematics for example we have an emerging field of cryptography called lattice-based cryptography and it's uh it's basically using different mathematical primitives then what we use in rsa or the discrete log problem or these types of things but it's very useful for post-quantum crypto and it uses a fundamentally different type of math and much harder math but more elegant and it gives you more tools as a result so it's very special in that respect now closely related cousin to cryptography is information security and what is does is it broadens the context to how you're actually going to use it so cryptography is more about arbitrary abstract adversaries in certain models and improves capabilities within those models information security is about real life so setting those models aside what happens when we take this stuff and we actually deploy in person and there you have social engineering there you have a situation where the crypto system can do everything right but you can still fail because the skeleton keys that you give to your employees they can be manipulated into handing them to an attacker for example the recent twitter hack that happened where they got bill gates's account and obama's accountant biden's account that was because a social engineering event convinced twitter employees to hand over key credentials to outsiders so the crypto was working well the security system was working well it's just the back doors they put in for remote access for their employees were shared with unauthorized people and information security worries about that stuff and they do a phenomenal job with it ah hi charles thoughts on cypherpunk 2077. you know it's funny i own a game company and one of these days will actually make games and so you guys can ask me about video games i can tell you everything about them um i have not played this particular video game but i've heard interesting things i think they shipped it a little too early the sad thing is that um there is a incentive now in the video game industry to not have a complete product before you actually ship it to the customer so they do these early release games are very very very buggy games when i was a kid there was no internet consumer internet so you couldn't ship a patch so the only way you could improve your software after you shipped it was that you'd have to ship a floppy disk to the person with the patch that was really expensive uh so most more often not you know they they worked a lot trying to make video games work well although sometimes they failed like i remember getting uh daggerfold uh daggerfall excuse me uh elder scrolls too and that game just never worked never damn worked it was impossible so many bugs in it and i'd never had a chance to really get into it and play it so i'd wait until morrowind before i became an elder scrolls fan so i hear through the grapevine that 2077 has issues and i also hear through the grapevine that the world design and feature set is less enthralling than grand theft auto 5 and there's similar games in terms of that open world dynamic no comments on the plot or anything yet so you know i'll wait a year or two and when they get it all out you know play it later on and usually i don't have time to play and what i end up doing is i just read summaries and watch the cut scenes on youtube while flying how about that charles you played wow ever no the last uh mmorpg of that sort i played was uh everquest one of the greatest games ever made your thoughts on red dead redemption 2. i mean they literally gave your character tuberculosis and had him die like three fourths of the way through the game come on that's as ballsy as it gets is the gogan upgrade still in time for q1 yeah the next goku fork is happening in i believe tentatively for february but that date looks pretty good and that's gonna add native multi-asset support so we've been running it on the test nets and now we're rolling it over and that also adds the infrastructure for the extended utxo model and then the final hfc event will add full pluto support so as we mentioned it was three upgrades the first was the allegra hard fork which was done in december followed by the mary which is native multi-asset and then finishing it off with pluto's core what u.s state is the best to move to if you're on a budget well that depends on your job and what you do you know you can live quite well even in social as hell holes like california if you're uh you know a movie producer you know you know if you like famous director or something like that it just uh it just it comes down to where you make your money uh how much you travel and so forth like i can live anywhere but there's a reason i don't live in wyoming at the moment is that it would be logistically so difficult to travel 250 days a year and live so far away from modern infrastructure i'd be adding every time i wanted to go home like eight hours of commuting you know 16 hours eight hours one way eight hours the other way in like 16 hours it would be just too much what makes cardano uniquely resistant to quantum computers as opposed to these rest of these projects like bitcoin and ethereum and we're not there you go shortest answer of the day uh would you beat vitalik buterin in a boxing match come on guys really you even have to ask that yeah if neurolink has proven successful would you get it implanted 100 percent bye what are your thoughts on julian assange i've never met the man or interacted with them um some people cryptocurrency space have you know like snowden uh assange is an interesting fellow because there's a blend of things and some are quite productive and some are counterproductive so on one hand us online really does feel that there needs to be transparency and openness in uh countries and he fights a lot for that and they created wikileaks and all these other efforts and the point of these things is call truth to power okay on the other hand there's embedded within him a degree of ego about the process and the approach and he really wants to be the guy who did the leak he really wants to be the guy who's calling truth to power so his identity is caught up in a way with this rage against the machine i'm against the man and so forth so an interesting thought experiment person like assange or snowden is would they have done what they did if there was a magic button they could have pushed and always been anonymous so somehow technology involved the point where they could basically run the operations the leaks and these things without revealing their identity and people would still believe that the leaks are credible and so forth would they do it and i don't know i don't have the answer but i think that tells you a lot about them as people could they pull a satoshi or not do i think they're beneficial to society yeah i think you do need people like that any preference in covet vaccine if so why both my dad and brother got the pfizer vaccine they're doing just fine so given that i share a lot of genetics with them uh probably not gonna have any issues myself that second shot is tough really really tough um the novovax vaccine actually is the one i've always been holding out for if they never get the damn clinical trial done the protein subunit model that they have is is likely to create a strong immune response but i mean it's the safest i'd say uh just from analogy to other vaccine platforms uh historically but that said the mrna ones are looking great it's just they're a bit bit high on the side effect profile i am curious to see the single shot platform from johnson johnson we'll have safety and efficacy data for that at the end of this month likely and they'll unblind it we'll see there were some cases of transverse myelitis with the study which is why they put it on hold but it's unclear if that was in the placebo or in the vaccine group so novavax is i think the best hypothetically depending on safety and efficacy data but yeah i think any of them will probably be fine i'm a little skeptical on these adenovirus ones it's like the whole idea of a genetically engineered chimpanzee virus carrying viral dna that interacts with my genome to make the uh rna to make the spike proteins is um it's a bit much you know i kind of understand how it works and so i'm like okay i get it but i'm like man it'd be a lot better if you just inject me with the spike proteins directly and then we kind of avoid all that molecular machinery and you know we just get to the business of creating an immune response but who knows thoughts on brexit charles hoskinson tough tough time right um i guess it's complete by the way the uk got the vaccine uh almost two months before the european union did so it shows you that having sovereignty can sometimes help you i don't know we'll see if whether it ends up being a good decision or a bad decision the media has clearly made up its mind but really you only know these things about five ten years down the road and independence is just that it's what you make of it you know people would be asking us what about brexit america it's like oh well the jury was out it took us a little while after 1776 to see if the experiment was going to work or not what happens when btc is fully mined hypothetically transaction fees will cover the security of the system any time frame for the network stack of cardano be integrated well we already have the network stack it's already done you're talking probably about the peer-to-peer components the governor is there and they're profiling it on the test net now it looks like tentatively should all be turned on before the end of march i'd like to see it in tandem with d equals zero there's really not a huge demand for it and it's one of those things that because there's not a demand the network teams had the luxury of doing things and they've learned an enormous amount since july of last year because we've had a lot of advanced logging features and we were able to confirm things that were in the simulations but peer-to-peer should get in this quarter i was a little disappointed we didn't get it in the last quarter but it's just one of the smallest teams there's only a few people working on the network team and they had to kind of prioritize simulations and profiles and technical debt reduction the big thing was the peer-to-peer governor and that piece of infrastructure to run peer-to-peer that's actually already in the code base and so it's just a matter of turning it on parameterizing it correctly profiling it correctly and tuning it and so they're being very cautious about it because it's a live network and it's one of those things when you turn it on it doesn't really change things in terms of user experience but if you get it wrong it can cause all kinds of chicanery and havoc and network splits and these things and given that we have a lot of stuff going on right now we want to kind of limit the amount of um change to one big thing so um it was first shelley and gat got all the infrastructure and then we had to get allegra in which was our first post shelly hard four combinator event and somewhere in the merry age is when now peer to peer will come right when d is heading towards zero but they'll both be closed out before the end of the quarter what's the best way to retain knowledge memory palace your thoughts on grass-fed versus grain-fed beef i wouldn't be a damn rancher if i supported grain fed sir but i actually am not a rancher i grow hay that's pretty much it i got a bunch of animals but i could never slaughter them grass-fed i already answered this question dynamic stop asking charles update us about cardano and litecoin collaboration we are going to write a lip is that a ring from a secret society uh no not at all not at all see you guys in jackson hole [Music] are you gonna give dan larimer a job he probably has more money than me raised four billion dollars who the knows no danny boy's just fine living out there in virginia is growing hay for tax purposes no horses eat and eat and eat and eat so if you have horses you either have to buy to feed them or you can grow your own food to feed them so i grow hate to feed my horses and somehow it saves me lots of money i also sell some of the hate to have a deal with the neighbor he runs a hay business vatican well i was baptized catholic thoughts on the psychedelics renaissance that's occurring i highly encourage everybody to read michael pollan's book how to change your mind and then listen to his interview on the joe rogan experience i highly highly recommend it give you guys a lot of context on the history and where we're at and where we're going but i do believe we'll see broad-scale legalization of psychedelics in the next 20 years so that's extremely exciting it's going to change society at a very fundamental level charles what status of the itn it's over it's done it's probably still running somewhere but it's a vestigial little artifact there's no use or need for it anymore it's gone it was there to help us bootstrap shelly and shelley's here the itn has become cardano will you publish japan trip yes uh when we have dates for it as we're getting close to dcf i'm going to go of course publish all the dates publicly the locations i'm going to be and we'll do a big help desk tour for japanese users and uh we'll we'll do a lot of stuff there's tons of little things i think are gonna be a lot of fun we'll work with sebastian on it he's running a cardano hub in japan and uh all of the the meetups will be televised and i'll have them record it and we'll post them on youtube either live or you know pre-recorded but it'll be a lot of fun and i'll start hokkaido and go all the way down to okinawa and we'll have a lot of fun with it uh what's the point of elon always promoting dogecoin he is basically mocking our industry for fun because that's his personality type and what he likes doing uh he has a very dry bizarre sense of humor it's very south african and uh it's fun and it's exciting it kind of brings people in uh but he's uh he's a unique guy he's always been a unique guy and i don't think it's anything personal and it's not i think he's a great fan of dogecoin it's just a it's a tongue-in-cheek way when you're an outsider to be part of the crypto madness without having to be part of it how's kavm testing progressing quite well we'll start broadcasting reports on it i'd like to rope them into the smart contract report and we'll make sure we get that out this month for you guys are there use cases where proof of work is better than proof-of-stake currently bootstrapping from genesis until we deploy our boris genesis is significantly better in fact it's unique versus proof of stake so you don't need a checkpoint that's a huge advantage and also the whole nipple power infrastructure that's a huge advantage and if your desire is to aggregate a lot of computation capabilities especially with asic resistance then you're basically building a giant supercomputer with proof of work you're not doing that with proof of stay virtually the protocols are not advanced enough to be able to take advantage of that super computer you're constructing there are definite advantages to proof of work from a certain viewpoint but i don't think that's no longer uh i no longer believe it's a security viewpoint that proof of stake provides value proof of work provides value proof of stake in my view is better it's much easier to quantify the security and in practice i think the systems are far more secure how do you feel about dot using their own modified version of oro boris uh it's great very exciting that dot is uh doing their thing the more the merrier that's the beautiful part about when you build these systems you write these papers other people can take them modify them and deploy systems makes me very happy because if we're using similar standards it means for example when they do a side chains protocol it's probably going to work with mine so it's actually quite good that one of our largest competitors is technologically similar to us in certain respects and it's not called theft.json not at all it's actually an open source ethos you take and you give you always have to contribute that's what makes the world a better place and it's not just the words that you flap around it's a lifestyle if either you're open source or you're not so if people take something and modify it and go and do their own thing and even to compete with you you still have to accept that and think it's a good thing and you end up getting so much more when people are working in that way do you meditate yes i do i use the call map and i also use a muse and they do different things and i think meditation is incredibly important since i did it i got a lot better as a person nope that wasn't the question i wanted damn thing moved on me it was here we go when do you think fossil fuels will be too expensive to use my ex-girlfriend's dad actually had an oil company and i learned a lot about the old the oil and gas business it was an emp firm exploration of production and it was a pretty crazy time very early in my life uh oil in fossil fuels in general it's not a question about expensive it's a question about alternatives and so there was this game that the oil companies played for a long time where they said look fossil fuels eventually are going to be old stuff and then we're going to move to a new energy for motility and you know backbones backbone it's going to run on fossil fuels until nuclear wakes up or something like that okay so what is that energy of motility they wanted hydrogen fuel cells why because you can make hydrogen with natural gas and you can make hydrogen with the the petrochemical industry so it's really low cost to do that and what your supply chain looks like it looks exactly like oil you have gas station you have a hydrogen station you deliver it you pump it you can reuse the pipelines these types of things uh so it made a lot of sense then they built all these fuel cells and had all these patents and they were just kind of waiting for the conversion and they said maybe 2030 2035 this one will actually start pushing for it and they didn't anticipate battery-powered cars becoming a big thing the mobile computing revolution is what front-ranked that so what happened was that all these cell phones and these tablets and these laptops came in they got really big and they forced massive evolution in battery technology much faster than the growth curve that was anticipated so as a consequence everybody wanted batteries with higher energy density lighter charge faster last longer in cheaper materials okay and those evolutionary factors by the billions of cell phones made and laptops made tablets made basically took the industry put it on steroids and gave it an r d budget that the oil companies didn't anticipate that was necessary but not sufficient to displace the hydrogen plant the sufficient part was tesla's rise this company that came out of nowhere that's now worth more than toyota and ford gm combined basically has said battery-powered cars are the thing and so when you say okay well this technology only needs about one more doubling before it's completely mainstream and then another double doubling before it completely destroys the internal combustion engine why because when you get to a point where you have a one to two thousand mile range on a consumer battery car and the batteries cost twenty five percent of what they cost today and charge in half the time once you reach that point you have no range fatigue because it's longer than you could realistically drive in a day you can charge it to full overnight there'll be a huge charging infrastructure and because you don't have to have an engine or any of these other things in the car you've massively simplified the design of the car and the single most expensive component the battery is now a fraction of the cost so when you look at the economic curves it's almost like the vacuum tube to the transistor the vacuum tube for a while was better but we saw the growth rate of the transistor and we said it's no competition you kind of peaked on one technology and the other technology is growing exponentially so battery powered cars are here to stay and uh unfortunately for the oil companies they've completely upended the economics of that industry because the reality is that you're now getting backbone power instead of power generated at the site of the car okay so you can make that from solar i'm putting in over 250 kilowatts of solar panels in my farm so i'll have one more enough energy to do whatever the hell i want to do so if i had battery powered cars all of them i could charge myself never have to pay for another tank of gas the rest of my life and a lot of americans are moving in that direction so uh it's tough times for that industry i know of course they can still make money from plastics there's still going to be a demand for fossil fuels you make thousands of things from distillates not just energy for cars so it's not going to go away you know the coal industry hasn't gone away it's you know there's always something you can do it's just it won't have the same prominence and death hold like i remember i was in university in 2008 uh what oil was 140 some bucks a barrel and you know we had people who were emts getting sick because when they went to a person's home they like found them passed out in their garage because people were trying to make their own biodiesel and they got and they poisoned themselves you know it was actually very common in denver because gasoline was so expensive people were looking for alternatives even if those alternatives were uh counterproductive and people didn't know how to run a bioreactor so it's gonna it's gonna change um that said as it's still gonna be an industry people are still gonna be petroleum engineers there's still stuff to do but the the cat's out of the bag and they waited too long had they pushed more aggressively for hydrogen right now battery-powered cars would not be there and we'd have all these hydrogen fuel cells and the convenience of being able to pump it into your car instead of waiting for the charge would allow that infrastructure to push out and they could have extended their life cycle a lot longer so what happens when you get greedy you know short-term avarice can destroy your long-term market advantage what is your favorite rapper you know after you buy a lamborghini you just got this whole catalog right uh right now it's rick ross i'm always hustling uh from gareth hall if you had a restore car done all over again what would you do differently one of those post-mortem questions right um we obviously would have avoided enormity of all the mistakes for the engineering side of things there was just so many false starts like when you have to rewrite code sometimes three different times that's something obviously you would avoid because you have all that hindsight that's there we probably wouldn't have changed too much in the research agenda there were a few things we could have accelerated and some false paths that we went down that we would have avoided i would have launched a product like uroi long before launching deadlifts and we would have had a command line only full node uh you know we'd have less full nodes in the ecosystem but we'd have a much much much richer wallet experience and we could have had a huge amount of feature development that we didn't have i would have also launched prism much earlier in the project history and it would be far more evolved and we could have much tighter coupling of identity with wallets and that would have given us a big regulatory advantage i probably would have started the yellow kvm project a year earlier and it would be much more mature and i don't know maybe we would have had pluto's bake in the lab a little longer and just gotten idris as one of the compiled languages to um yellow right now the semantics for that and then allowed people for high assurance smart contracts through that approach instead of going for the whole banana with extended utxo and so forth and just had the chimeric ledger idea um [Music] in terms of the base programming language you know there was a strong argument made to have written cardano in its first generation in scala and had scholar three existed i probably would have done that same for f sharp five because those have evolved to a point that they've absorbed a lot of the original haskell advantages but you know in 2015 it was a different world and you know there were assumptions we made about how easy and how hard it was to do things respectively and some things we thought were going to be super hard ended up being somewhat simple and some of the things we thought were going to be really easy ended up being super hard uh like the hard four combinator for example but on the other hand you know look at where we're at and look how much success the project has had and how far along we've gone on the vision and honestly we're moving faster and faster we've gotten over those growing pains so you know our critics seem to think that we're just frozen in mud and nothing changes and we learn nothing but i think the people are giving us a fair shake realize that we really do have the wind at our backs and we're gaining momentum so i'm very happy all things considered it's just you know a lot of things i wish i could have gotten to do over with and you know in future projects we'll uh learn those lessons like molten salt reactors or some other nuclear alternative as well really really like terrapower traveling wave reactors are great you know take uranium-238 and you just breed it to plutonium-239 you create a little reaction and burns like a candle and it's a constant reaction and it starts at the top burns to the bottom lasts about 30 years 40 years until you exhaust the fuel and you have a high you have a fast half-life high degree of radiation for a little while you dispose of the entire core and within half a century it's no longer radioactive much much much much better than any of these third or second generation nuclear power plants traveling wave reactors are definitely the way to go if you can get them there and there's no proliferation concern because the plutonium is consumed with the reaction as it's converted so you can't take it out like a normal breeder reactor the other thing is that 238 is a waste uranium so you probably could process a lot of the waste uranium that's floating around but there needs to be a lot of regulatory changes to permit that because breeder reactors understandably so are technically not promoted because of proliferation there's tight control in the world over certain nuclear technologies thorium reactors are also really really cool and you know of course there are other things like those modular pebble bed reactors there's been some great designs there and it's real cool to see how they've been able to grow but ultimately i think that um laser fusion like the laser international fusion engine has the most promise for nuclear fission not fusion mostly because of the hybrid reactor designs they have it's called uh you know the life is the name of it so that's cool stuff ed moses runs that program it's a damn good marketer well this is an ama so what's your spirit animal well kevin my spirit animal is the capybara they get along with everybody google capybara crocodile and you'll see what i mean they just just sit there hanging around with crocodiles and caimans and they don't get eaten you tell me what do you think of algorand good project what are you drinking tonight coffee black charles please explain how cardano is 100x more decentralized than bitcoin or others how is this calculated by those who produce blocks so if you have a hundred times the unique entities producing blocks uh then we say it's a hundred times more decentralized but there are many measurements of decentralization you can look at network propagation so how many full nodes you have you can look at the amount of unique development entities that are responsible for it you can look at the funding sources and see how many unique funding sources are there you can see at the totality of the user count you can see it by the total amount of applications on the system but usually when we say decentralization we strictly meet the amount of nodes participating in the consensus process and how many unique people are making blocks and in the case of bitcoin three to five usually make the same blocks again and again and again and we consistently have 300 to 500 stake pools consistently making blocks that are unique there's more than 1200 registered so i feel very comfortable in the 100x statement but you know reasonable people can have different definitions there's no consensus in the industry of what decentralization is hey question are you doing another dry year ah probably not although i haven't drank anything since the year started but maybe i will i don't know i haven't completely committed to it but i might what gives cardano intrinsic value the same thing that gives bitcoin intrinsic value you the user while the tokens can always be increased for example with bitcoin a hard fork can double the amount of tokens what cannot be doubled are the users and the utility of the system this is what peter schiff and all these other guys miss at any time i click a button and actually when i was learning about bitcoin i did do this i forked the code base and launched a private version of bitcoin just to test the code and understand how things worked so technically i had bitcoin charles edition but those tokens were worthless because it had a population of one and when bitcoin had a population of one it was worthless and people are finite and people come with special skills abilities their own ability to work they're they're they're adding value so there's an intrinsic value when you have a network of people and based upon what they can do with that network and how they can use that network is how much value you can extract and that's what gives cardona intrinsic value the hundreds of thousands of people who use it the 1200 stake pool operators the 10 plus entities that develop on it uh and there seem to be hundreds more that are coming have you done a water fast before yes do them all the time one one every quarter longest one i ever did was two weeks charles has anyone ever told you that your voice is really soothing the only time i've ever heard anything about my voice somebody who didn't like me very much he said um charles anybody ever tell you you have a face for radio and a voice for silent movies and that was it like was so slyly done that it kind of stuck with me all right um yes i am left-handed will you run for president no i have no desire to be the president of the united states it's the worst job in the u.s and you actually can't change anything anymore it's just a figurehead still rogan after gogan will you smoke weed with him yeah of course rogan after gogan and we'll just have cross that road when we come to it i think wheat is not legal in texas correct me if i'm wrong so it's tobacco that they're smoking tobacco do you think jack ma is safe right now i think jack ma's hologram is safe right now i mean that's what i was saying like who would want to be a billionaire in china you're the wealthiest most powerful billionaire in the country and you run a foul of the ccp and then suddenly no one's seen you since october it's not worth it freedom is the most important thing from vivek whiteboard application i use the microsoft whiteboard application that comes with the microsoft surface i'm on a surface studio for this device but it comes free with windows 10. and it's easy to use to use signal yes both the protocol and the app do you think china controls bitcoin and ethereum no what's the downside of being so well known in this space or outside of the space people have already made up their opinion about me that's the problem you know there's so many things that we could do and build and collaborations we could have and if people were giving people a fair shake it would be easy and unfortunately we live in an age where people pick sides either they love me or they hate me but i'm a very polarizing guy they think i'm incredibly narcissistic egotistical my critics say i do nothing i don't work i don't know how to program i'm incompetent i have no technical skills i can't lead i'm too difficult to work with leave every project that i belong to you just name it they say it and of course none of it's true but they say it and they believe it so if you believe these things would you want to work with that guy no would you want your community to associate with that guy no so i think that's the worst part the biggest downside is notoriety breeds opinion and opinion does not require validation by reality so you just deal with it you know and you work on it and all i can do is just wake up day to day and do what i do and actually this is a related question right here do you go to slash biz so i have a web scraper and the web scraper every day pulls up a bunch of keywords like cardano ioh k my name several the names of my executives and other search terms and it gives me this lovely little report it prints out as a pdf and i kind of scroll through it and see and it's usually quite long and you know i search or it may take five minutes or something like that but it's nice you get one little report every day and you kind of get to know what's going on and uh it picks up 4chan and the 4chan people they say really really really nasty things time it again i'm apparently uh cardano's a coin i'm a soy boy um i'm going to jail you know and all this stuff and you just wonder yourself what compels a person to go and do that how powerless and pathetic must a person be to lower themselves to a point where they have to say and act out these types of fantasies with about a public figure that they've never met and they know nothing about i don't know i never had that problem i never felt the need to do that i guess it's the case that they just have low self-esteem themselves and they need to destroy things in order to make themselves feel better or maybe make themselves feel like they have control or they can do something but it's a cesspit of lies you know i just did a video earlier today where i talked about social media and the sharing of information and that's an example of unverified and anonymous so it lives in the little red box you know and who cares about what people say it has no impact on me um you know i this is where i disagree with jordan peterson you know he says oh well that has a psychological impact whether you try to take it seriously or not why do i care you know my life is great and i know who i am i'm incredibly comfortable in my own skin and you know if you go ahead and post a tweet i had in vietnam two three years ago about metamask you honestly think that's going to bother me no it has no impact uh it just shows you how small you are but it is what it is you know and uh it's certainly not the only medium that brutally criticizes people some more public mediums that are a little bit more connected to real life identity or like cryptocurrency reddit for example long time they hated cardano and everything we stand for and the bitcoin maximalists actually i think are far worse those ones do bother me a little bit especially maximalist i knew and had relationships with and some cases took out to dinner and you know you'd see me actually be quite cordial like ton vase or max kaiser and these others and i understand they're shtick and i understand it's all for marketing and it's just theater and entertainment but i guess i'm just more of a traditionalist i don't live in a world where a person you've known for eight years there's broken major things on your show you suddenly compared to jeffrey epstein because i took ppp money for one of my companies that employs us personnel i just don't don't see how that equivocates and how you can do that to a person that you've spent numerous occasions in aspen london and other places having dinner with you and your wife in a very cordial setting and you know who this person is to just turn on them to fly for a dollar and when people do that that does hurt and it deeply disturbs because you say wow how people's values are so screwed up that they are willing to divorce themselves from the things that are most valuable relationships and people and experiences for things that are the least valuable money and power and that kind of makes me sad so those are the things that bother me not slash biz you know it's just it is what it is it's dark side of the internet people say and do horrible things uh and they're they're gonna say and do horrible things and you know good riddance let them go build something uh how how do all those q anon conspiracies work out for you guys the storm still coming is it coming i'm waiting for it qfs conspiracy i was waiting for that or the 70 other things how's pizzagate working out for you guys huh is it coming yeah just children the maximalists are worse are you concerned of ever being de-platformed i very well could be in which case i'd have to return to my life of the soil growing mushrooms and wheat and hay and taking care of my animals and just living life you know life is ephemeral all things are ephemeral you know getting pushed out of ethereum was one of the best things ever to happen to me because it taught me that no matter how much you love something or how passionate you are about something at some point your time is up and you have to go do something else imagine being a famous quarterback and then suddenly you get hit in the knee with a helmet and it destroys your knee and then you realize you're just done you can never play again okay you could have been the best could have went to the super bowl now it's over what do you do the morning after what's your life now we're you have to have a mentality that you enjoy being in the saddle when you're there and you live in the moment and you do your best but when the time comes to go it goes and i get the platform to an extent that i no longer have a public voice well then maybe i'll write you know but i'm still going to live my life and enjoy my life and i'm not going to be concerned about arbitrary things that could happen in the future you can live everything perfectly you can get straight a's and be a 4.0 kid please the parents marry the woman they tell you to marry become a doctor do all the things and then wake up the morning after and discover you have brain cancer how about that what would you do what would all those accomplishments mean if you sacrifice so much that you put life on hold specifically for them thinking that somehow there would be this glorious future you're building your way up to it's not the destination it's the journey you go on as you live your life regardless of the destination if every moment isn't worth living then you're not living in general and there will never be a day you wake up that somehow it all makes sense it has to make sense today if it doesn't change the way you're living how are you going to stop twitter and those big tech companies from censorship i did a video on it watch my videos on curated social networks that's just the first of many um this might not be a technical question kind of night huh you can ask me technical questions tom what do you got for me do you think that we should moderate use of targeted psychological manipulation uh that's called marketing [Laughter] it's just when the government does it it's called psyops it just depends on the place and purpose what's going on with that graphite graphene battery received and toyed around with still have it it's a power bank i can't really do much with it outside of recharge my phone but i switched over to a different one because it's slightly more convenient and has built-in cords i mostly got it just to say i had a graphene battery because i remember reading about it way back when i took inorganic chemistry so many years ago and i said wow it's so cool to have a substance like this and to have it in the battery just gave me oh one more good question then i'm gonna get some sleep ah [Music] charles do you have a desire to go to space i'm actually going in 2025 how about that it's on my bucket list and there's an opportunity to do it and that's when it's going to open up and there you go is there a meaning to life thus is the question every philosopher has ever asked themselves to unsatisfying answer other than live well be well and treat others well goodnight everybody this was fun
