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02:30:42
designed awesome if you wanted to get
02:30:44
listed on exchange call them up
02:30:45
I'm not promising you [ __ ] now the
02:30:49
intelligent person would be like uh
02:30:50
Richard he's working real hard on this
02:30:51
maybe he'll do something yeah maybe I
02:30:54
will but I'm not promising anything
02:30:55
right because the how I test so or maybe
02:30:58
you don't know maybe my work out maybe
02:31:00
my maybe my barbell just like crushes my
02:31:03
head or something I don't use barbells
02:31:05
all right to use barbells I don't use
02:31:07
dumbbells
02:31:08
I show people my lifts my workouts
02:31:10
because I'm like lifting heavy everyday
02:31:12
and I do the bench with no spotter
02:31:15
everyone's like you're gonna die you're
02:31:17
gonna die and like you guys are ignoring
02:31:19
these thousand-pound rated steel bars
02:31:21
that are higher than my chest
02:31:22
I couldn't possibly kill myself if I
02:31:24
wanted to like I would have to shoot
02:31:26
myself in the head while under the bar
02:31:27
with a gun so in this system review the
02:31:32
smart contract know the code that you're
02:31:34
running understand block chains are
02:31:35
[ __ ] hard we have a better shot than
02:31:39
anybody else does the game theory is
02:31:41
Right the trustless is right the timings
02:31:43
right you know we got 50 weeks to [ __ ]
02:31:45
around and chop in this little bear
02:31:47
market crap till we go to all-time highs
02:31:48
again let's get rid of the freeloaders
02:31:50
right let's let's launch at the bear
02:31:52
market at the bottom right so when
02:31:55
people buy their coins if they hold on
02:31:57
to them and don't read UMP them they're
02:31:58
likely to at least profit on the coins
02:32:00
that they bought their BTC right and
02:32:01
those freeloaders right like hey let's
02:32:05
say I can't find Jeon I can't find his
02:32:07
coins I don't have I don't know where
02:32:09
they're right now I'll give it a good
02:32:10
look I might not be able to find them if
02:32:12
if I can't find them would you rather
02:32:14
have Jihan dumped on you now at the
02:32:17
bottom of the bear market a very small
02:32:18
amount would you rather enrich that guy
02:32:20
that does not deserve the money right is
02:32:23
theirs negative money deserves
02:32:26
would you rather he dump on you at the
02:32:28
top right let's get rid of all the
02:32:30
freeloaders get through our 50 weeks get
02:32:33
everyone locked up
02:32:34
and like it I don't I can't think of
02:32:37
anything else to add to this I could
02:32:39
have made a minimum price to a steak I
02:32:41
could have made a minimum of a number of
02:32:42
coins to steak like masternodes do but
02:32:44
here's the problem with that or I could
02:32:47
have given tokens to aetherium holders
02:32:49
same problem you have to have a trusted
02:32:51
Oracle that's a central point of failure
02:32:54
to set the ratio so what is the ratio of
02:32:57
the price between a Bitcoin and
02:32:59
aetherium to fairly give the people that
02:33:01
invested those things and whoever sets
02:33:03
that ratio can [ __ ] with the price and
02:33:06
unfairly reward one party or the other
02:33:08
right like what is the price of a
02:33:10
Bitcoin what depends where you're buying
02:33:11
it are you buying it on Infinix are you
02:33:13
buying it and cracking are you buy
02:33:15
anything on Macs was just a contract
02:33:16
that you're gonna settle and fiat later
02:33:18
with a quanta right you don't know what
02:33:21
the actual price of a Bitcoin is it also
02:33:23
is a function of how much volume you're
02:33:25
doing the price changes it gets worse
02:33:27
the bigger volume you do so you can't
02:33:30
have a trustless Oracle that will tell
02:33:33
you honestly the ratio of Bitcoin
02:33:36
aetherium so I had to choose whether I
02:33:38
was gonna give this to Bitcoin holders
02:33:39
or theorem I was i choose Bitcoin
02:33:40
holders I've been a Bitcoin maximalist
02:33:42
for so long I it's got a lot of good
02:33:45
things going for it still what's the
02:33:47
other reason I couldn't do the the
02:33:49
minimum like lock up coin amount well
02:33:52
what do you set the price at like I
02:33:54
don't know like and then as the price
02:33:58
goes up they just become super duper and
02:33:59
for unaffordable and it's like an
02:34:00
oligarchy and then only they switch can
02:34:03
get richer right so [ __ ] that like this
02:34:05
system kills whales in the beginning
02:34:07
right hey will you didn't help me build
02:34:10
this you didn't help me promote this you
02:34:12
weren't here when all my fans were here
02:34:13
you weren't here helping me design the
02:34:15
game theory I reached out to everybody I
02:34:17
reached out on Twitter and I reached out
02:34:18
and straight for every part of this
02:34:19
thing hey guys what should the inflation
02:34:21
rate be hey guys you know how often
02:34:24
should the the lockups like rotate right
02:34:28
short long I asked everybody about every
02:34:31
part of this because I wanted to get it
02:34:32
right you know hey guys who shouldn't be
02:34:34
able to claim right who are the bad guys
02:34:35
out there I got to tell you the world is
02:34:38
pretty empty on [ __ ] advice I
02:34:39
receives very very little assistance and
02:34:43
very very little help in the design and
02:34:46
I don't know weathers people don't care
02:34:48
or they don't like there's a new guy in
02:34:49
the block that's gonna make an impact
02:34:51
and then their bags will seem less
02:34:52
exciting alright because when I go to
02:34:54
top three
02:34:55
someone's got to come out someone's got
02:34:56
to come down right well you know those
02:35:00
are the guys that aren't happy to see
02:35:01
why other people are talking about
02:35:03
krypton [ __ ] building it right first
02:35:06
certificate of deposit blockchain
02:35:08
product on the Internet
02:35:09
first thing that pays you more for
02:35:10
locking it longer first thing I'm aware
02:35:11
of that when you lock up you can't just
02:35:13
unlock whenever you want those are
02:35:14
innovations that have never existed
02:35:15
before in blockchain that I'm aware of
02:35:17
and they're [ __ ] powerful paying like
02:35:20
this thing is gonna go the [ __ ] moon
02:35:22
as my opinion we'll see as soon as my
02:35:26
developers finish finish building finish
02:35:29
so we can test [ __ ] please yeah you
02:35:33
wouldn't expect you'd have to redo
02:35:34
everything over write you're like oh
02:35:35
well the tool that we built in Java we
02:35:38
we've had a tool in JavaScript that
02:35:40
handled people's claims when they
02:35:41
submitted them but the UT Exocet got so
02:35:44
large that it ran over the memory
02:35:46
buffers and nodejs and it's unpassable
02:35:49
and unfixable so now you have to
02:35:52
literally write the whole thing in
02:35:53
another software or figure out a way to
02:35:56
shard through the memory buffers like it
02:35:58
every single part of it has been super
02:36:02
complicated right like all right we're
02:36:03
gonna use we're going to use open
02:36:05
Zeppelin because it's audited and
02:36:06
trustworthy and everyone uses it and it
02:36:11
does safe math so we're not gonna have
02:36:14
negative numbers it just anytime
02:36:16
something tries to go negative it just
02:36:18
zeros it out and it handles buffer
02:36:21
overflows for when numbers have changed
02:36:23
sighs and [ __ ] fabulous but then you
02:36:26
have huge gas problems because it treats
02:36:28
every number is an unsigned integer 256
02:36:30
bit and we don't need them that large so
02:36:33
now it's just wasting space right so
02:36:36
then my coders like yo let's let's use
02:36:38
the right sized integers we're gonna
02:36:40
save money on fees and gas I'm like dude
02:36:41
but yeah we're gonna save money in fees
02:36:44
and gas but the gas is so cheap right
02:36:46
now like how many days are we going to
02:36:48
be delayed because of this optimization
02:36:49
right this is Donald Knuth saying that
02:36:52
premature optimization is the root of
02:36:54
all evil or something for that effect
02:36:57
yeah when you start building crypto
02:36:59
instead of just [ __ ]
02:37:00
talking about it and you know yeah I
02:37:02
bought my bag and left it on coinbase so
02:37:04
please make me rich someone working hard
02:37:06
I'm actually doing the hard work and and
02:37:08
most of this shit's so hard that it's
02:37:11
it's almost understandable like when you
02:37:13
asked me what the supply will be hmm
02:37:15
well let me tell you what the supply
02:37:16
will be I don't know how many people
02:37:18
will refer themselves I don't know how
02:37:20
many people were for other people I
02:37:21
don't know how many people will claim
02:37:22
when they'll claim I don't know how many
02:37:24
people will stake I don't know how many
02:37:26
people will emergency and stake so now
02:37:28
in order for me to give you a range of
02:37:30
guesses I have to permute if not an
02:37:34
infinite number of variables a large
02:37:36
number available across each one of
02:37:38
those user behaviors and then time-warp
02:37:40
them in the future and then try and
02:37:42
guess how those future values would
02:37:44
affect user decisions in the future past
02:37:47
that I could have built like for
02:37:49
cryptocurrencies with different features
02:37:52
in the same time it would take to figure
02:37:53
out how this one's gonna work out and
02:37:55
that's part of the appeal part of the
02:37:57
appeal is finding out how it works out
02:37:59
that's the stickiness that's the mining
02:38:03
calculator when you go to the mining
02:38:04
hardware and all these people bought
02:38:06
mining equipment all those people about
02:38:08
mining equipment cuz they went to a
02:38:09
mining calculator and weren't smart
02:38:11
enough to put the right numbers in there
02:38:13
to figure out that was a terrible idea
02:38:14
and then so many people did it and fell
02:38:17
for it
02:38:17
but it became a more terrible idea
02:38:20
because they all had to compete for the
02:38:21
same pool right so in this system if
02:38:23
everyone overestimates the value and
02:38:25
they see giant numbers and they all lock
02:38:27
up that's better for all of them right
02:38:30
it's the opposite of the the dark
02:38:33
pattern and mining where it [ __ ]
02:38:34
everyone that overestimated in this
02:38:36
system looks like oh I get locked up
02:38:38
forever and everyone else locked up
02:38:39
forever so one day we're all gonna do
02:38:41
really good right ok so the last
02:38:46
question that I have is after the claim
02:38:49
period after all the other bonuses and
02:38:51
all that stuff let's say I want to sell
02:38:55
at some point I want to sell because
02:38:57
everybody's make the point is to make
02:38:58
money mm-hmm so why would people buy it
02:39:04
after the bonuses oh well the insurance
02:39:06
rate like the day they should into this
02:39:09
3 profit there's 3 profit centers so
02:39:12
first if you wanted
02:39:14
if you wanted to be more safe in the way
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