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Richard Heart On Twitter Spaces July 21st, 2022
Jul 22, 2022
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01:07:17
the admin keys you can't change that
01:07:19
contract but the people who publish the
01:07:21
smart contract can publish a new one and
01:07:23
and and hex
01:07:25
i haven't looked that deeply into hex is
01:07:27
not kind of like on the please don't
01:07:29
mind i think it's better that you guys
01:07:31
don't even talk about hex it's too
01:07:33
confusing for you guys it's better we
01:07:34
just talk about ethereum but
01:07:37
this is power this is what makes it
01:07:39
popular it's too confusing for anyone
01:07:40
it's uh
01:07:42
okay
01:07:43
it's literally hex is just bitcoin with
01:07:44
a proof of work change we use eth miners
01:07:46
and we inflate to get people to lock
01:07:48
their coins instead of blow up the
01:07:49
environment with shot 256 that's it
01:07:51
that's all it is it's not hard
01:07:59
the architecture there is that the base
01:08:01
layer is simple the base layer is not
01:08:03
going to change it's hard money and and
01:08:06
and people like that and then their
01:08:07
bitcoin layers right i work on one of
01:08:10
them right there all sorts of bitcoin
01:08:11
layers
01:08:12
lightning is one stacks is one rsk is
01:08:15
one there there are new ones coming up
01:08:17
like uh like the sidechain and cosmos
01:08:20
and that's where experimentation happens
01:08:22
if you want more privacy if you want
01:08:25
tornado cache like stuff you would
01:08:27
publish that on a bitcoin layer stacks
01:08:29
could do it well liquid liquid liquid
01:08:31
has it as well all transactions inside
01:08:34
the liquid side chain have
01:08:36
what do you call them uh
01:08:40
confidential transactions thank you hey
01:08:42
do you run a liquid note 10
01:08:45
i don't at the moment because i travel
01:08:47
too much but i plan to when i take some
01:08:49
time off and don't you have to pay
01:08:51
someone for a
hardware
security module
01:08:53
to run a liquid net
01:08:55
yes liquid is fed rated but stacks is
01:08:57
not stacks and permissions
01:09:02
i don't need to run a liquid node i can
01:09:05
choose to if i want to
01:09:07
i would rather run bitcoin than a liquid
01:09:08
net truthfully
01:09:11
so so richard i have a question for you
01:09:12
you were a big supporter of bitcoin you
01:09:13
explained why your perspectives changed
01:09:16
what are what are things you agree with
01:09:19
uh when talking about tonight you know
01:09:20
we had things that you guys agreed on
01:09:22
earlier in the space without knowing
01:09:23
without being in the space at the same
01:09:25
time you made similar points what are
01:09:27
points you'd agree with that they were
01:09:29
mentioned by muneeb uh twin etono or
01:09:32
shiny
01:09:33
so if you're worried about 51 percent of
01:09:35
tax then the network that has the
01:09:37
highest hash rate is most secure about
01:09:39
that that would be bitcoin if you're
01:09:40
worried about being able to buy a
01:09:41
billion dollars at once and not move the
01:09:43
price that would be bitcoin if you're
01:09:45
worried about regulatory certainty being
01:09:47
registered as uh you know
01:09:50
legal tender in el salvador that would
01:09:52
be bitcoin if you want to put a laser
01:09:54
eyes profile and feel good eating steak
01:09:56
and hang out with other people that only
01:09:58
eat steak that would be bitcoin but all
01:10:01
of these things has an opposite side so
01:10:03
yes you can buy a billion and a half
01:10:04
dollars of it without moving the price
01:10:06
but guess what the price doesn't move
01:10:08
because if you buy a bill in half that
01:10:09
doesn't move it so jeez how much do you
01:10:11
have to buy to actually get it to move
01:10:12
you see
01:10:13
and so it's the same thing goes with the
01:10:16
51 pack stuff it's a good argument again
01:10:18
richard is only interested in rugging
01:10:20
y'all for usd
01:10:22
he's not interested like there's like no
01:10:24
fundamental difference between your
01:10:26
project
01:10:27
i'm the self-help author that gives away
01:10:29
free self-help book for years
01:10:31
you are not
01:10:33
290 pounds what are you talking about no
01:10:36
one is seeking help from you
01:10:39
so let me get this straight if michael
01:10:41
jordan's coach couldn't dunk him in you
01:10:43
couldn't learn from him if a homeless
01:10:44
guy in the street tells you to brush
01:10:45
your teeth you don't brush your teeth
01:10:47
you can leave your fat shaming at home
01:10:48
dude i give bitcoiners free money i save
01:10:50
bitcoiners from scams i try and make
01:10:52
bitcoin more secure
01:10:55
i said this i literally said this to
01:10:58
alex mashinsky's face in 2019 you cannot
01:11:01
give everyone seven percent interest
01:11:03
you're running a ponzi scheme and
01:11:05
there's no difference here there's coin
01:11:06
miners making money bitcoin miners make
01:11:08
that
01:11:09
where's the ponzi bitcoin miner's
01:11:10
mid-air out of thin i i've made a
01:11:12
bitcoin
01:11:13
they burn electricity there's a
01:11:15
difference
01:11:17
no it's worse it's a huge negative
01:11:19
externality but for some reason you like
01:11:20
enriching
hardware
companies and
01:11:22
electric companies it's silly they
01:11:24
murder the bitcoin price to buy
01:11:25
pollution instead you could just not
01:11:28
murder the bitcoin price and not buy the
01:11:29
pollution and as long as you still have
01:11:31
a functioning consensus network
01:11:32
everybody's happy the only time big as
01:11:35
long as
01:11:36
no but it should i invented the term
01:11:38
just in time security
01:11:40
i invented the term just in time
01:11:42
security which means when the government
01:11:43
starts kicking down doors and making
01:11:46
problems for everyone you do a proof of
01:11:47
work change if the government started
01:11:49
doing sha-256 mining right now how would
01:11:51
bitcoin protect itself with a proof of
01:11:53
work change if the government started
01:11:55
knocking down ethereum miners doors and
01:11:57
making them change transactions how
01:11:59
would you fix that with a proof of work
01:12:01
change so it's all social consensus
01:12:03
anyway if the government
01:12:06
broke down your door and threw you in
01:12:08
prison for 20 years how would hex
01:12:09
perform
01:12:10
it would perform well i mean okay let's
01:12:12
let's do that in theory people think i
01:12:14
have 85 of the supply so if i go to jail
01:12:17
forever who i don't know maybe that's
01:12:19
like satoshi going to be dead right so
01:12:22
the origin address has never sold a coin
01:12:25
never but if but the ethereum founders
01:12:26
sold coins and to tell you the truth i
01:12:28
don't know where satoshi's kids may have
01:12:29
put his coins and i don't know who he
01:12:31
had kids with and i don't know how good
01:12:33
his operational endpoint security was
01:12:35
never sold coins you're gonna pretend
01:12:37
really you haven't dumped on your pack
01:12:39
no he dumped all the ethereum people on
01:12:41
day one to get his coins
01:12:46
no comment tone
01:12:48
yeah what about i got a lot of really
01:12:50
cool stuff i'm selling something for it
01:12:52
ain't they
01:12:53
what about the vulnerability if coins
01:12:55
ever become active and all of these ogs
01:12:57
who do you think satoshi is
01:13:00
i mean it doesn't like i think satoshi's
01:13:02
an english-speaking
01:13:04
rather
01:13:05
works at a college kind of guy based on
01:13:07
a spelling analysis he puts two spaces
01:13:09
after his periods which means he's one
01:13:11
of the last guys to learn on typewriter
01:13:13
so he's probably about my age or older
01:13:15
i'm 42. he spelled a lot of stuff with
01:13:18
essie instead of ze which is an english
01:13:19
thing and if you do timing analysis on
01:13:21
the times and when he posted and how
01:13:23
quickly he responded to other people you
01:13:25
can't respec you can't respond quickly
01:13:27
to other people when you're asleep so
01:13:29
you can actually tell when a guy's awake
01:13:30
because he can't cue messages to try and
01:13:32
beat the timing analysis so i think he's
01:13:34
an english person
01:13:36
on the uk time zone probably based on
01:13:38
the way his code looks
01:13:40
uh rather noob you know he wasn't used
01:13:42
to working in a dev team he's kind of
01:13:44
doing it on his own
01:13:48
so i want to bring up we've got a lot of
01:13:50
members so we mentioned hex james i'll
01:13:51
give you the mic i've got a question for
01:13:53
the panelist but james i know you were
01:13:54
waiting to speak so i'll give you the
01:13:57
mic and what about if coins start moving
01:14:01
like
01:14:02
all of this bitcoin's price and
01:14:03
everything that's happening right now
01:14:05
like in the value of one trillion
01:14:07
dollars is all reliant on the coins not
01:14:09
moving
01:14:10
what happens if the coins move and what
01:14:12
about that vulnerability like i feel
01:14:13
that's not true man it just ignores that
01:14:17
nah it's not true we have a number for
01:14:18
that called days destroyed we measure
01:14:20
the length of time that a coin has
01:14:22
remained uh dormant and so if you look
01:14:24
on
01:14:25
bitinfocharts.com you just search
01:14:27
bitcoin rich list you can actually see a
01:14:28
chart of how long coins have been
01:14:30
sitting there and you know some large
01:14:32
amount of coins which by the way is
01:14:33
funny this is market cap supposed to be
01:14:36
circulating supply circulating supply
01:14:37
means moving bitcoins founders million
01:14:40
coins
01:14:41
are sitting there counting as
01:14:42
circulating supply even though they've
01:14:43
ever never moved it's a scam so actually
01:14:46
bitcoin's market cap is about five
01:14:48
percent lower than publicly advertised
01:14:49
because everyone's a scammer
01:14:52
but that doesn't matter why does that
01:14:54
matter if bitcoin's market cap is five
01:14:56
percent lower or greater it fluctuates
01:14:58
quite why not just measure it accurately
01:15:00
why not just measure the coins that have
01:15:01
moved that are actually circulating why
01:15:03
not
01:15:04
or publish both numbers i don't mind
01:15:06
okay again bit
01:15:08
there's no ceo of bitcoin richard
01:15:11
this is a this is a coin market cap
01:15:13
ranking site thing this doesn't have to
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