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Bitcoin Ethereum and more with DataDash Nicholas Merten
Oct 24, 2020
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01:15:48
period of time make
01:15:49
in this case interest on that money and
01:15:50
therefore they're going to pay at a
01:15:51
higher interest rate than a savings
01:15:52
account we're still going to move in and
01:15:53
out
01:15:53
um in this case which you guys have
01:15:55
basically built is a system where
01:15:57
at the same time you know in this case
01:15:58
you do have the inflows of value
01:16:00
from people coming into the system being
01:16:02
hopefully at the end of it kind of the
01:16:04
rewarding system for
01:16:05
those who might be again getting out of
01:16:06
the system later on is that correct
01:16:08
it's it's because you're not really
01:16:10
putting the money to again unlike a
01:16:11
traditional lending system where
01:16:13
that money is going into credit markets
01:16:15
and debt and in this case it's more
01:16:17
this is a super common misconception
01:16:20
when people deposit money into banks it
01:16:22
goes on the banks
01:16:25
the non-asset side the liability side so
01:16:28
when you deposit money in a bank now
01:16:30
they have a liability
01:16:31
they owe you that money they don't
01:16:34
actually lend your money out
01:16:35
your money just sits there what they do
01:16:37
is they use the fact that you deposited
01:16:39
as an excuse
01:16:40
to get free money from the government
01:16:42
and the government just says you can get
01:16:43
as much free money
01:16:44
from from us as you want however you
01:16:47
need to have this ratio of deposits
01:16:49
sitting in your bank and so when you
01:16:51
deposit money at the bank your money
01:16:52
doesn't actually get left out
01:16:54
the government's money gets lent out
01:16:55
your money just gets used as an excuse
01:16:57
to get the free money from the
01:16:57
government
01:16:59
and that's an important difference
01:17:00
because people go oh well where does the
01:17:01
money come from
01:17:02
it just comes from inflating into thin
01:17:04
air that's where the dollars come from
01:17:05
and in cryptocurrency systems it also
01:17:07
comes from inflating it out of thin air
01:17:09
bitcoin is up 1.3 million x right now
01:17:12
and it went
01:17:13
hyperinflationary from zero coins to 18
01:17:16
million coins
01:17:17
in 10 years how do you get from zero to
01:17:19
18 million in 10 years
01:17:20
you inflate like and in the early
01:17:23
days bitcoin's inflation was thousands
01:17:25
of percent annualized
01:17:27
in the early days hex gets rid of that
01:17:29
phase which took a long time for bitcoin
01:17:31
to get over with we get to get it over
01:17:33
within the first year and jump right to
01:17:34
bitcoin's year 10 state where did 20 000
01:17:37
where its inflation rate was about 3.89
01:17:39
and you know we target a max of 3.69
01:17:42
it's actually far lower than that
01:17:43
because it's delayed
01:17:45
so these people they only get at the end
01:17:48
of their stake and the average stake is
01:17:49
4.3 years long
01:17:51
so you're not even going to see 3.69
01:17:53
inflation for a good while until those
01:17:54
stakes come out
01:17:55
so you know i get your point completely
01:17:59
on that i'm not i'm not there to
01:18:00
appreciate chris
01:18:00
i was just saying more than anything i
01:18:02
guess the one difference the major
01:18:03
difference from like with hex as a
01:18:05
project compared to maybe to a
01:18:06
traditional cd in this case is that
01:18:08
the the the capital in this system that
01:18:11
you've built
01:18:12
as i'm just trying to understand the
01:18:13
system it's basically it's not exiting
01:18:15
outside of the system it's staying
01:18:16
inside hex and it's really about again
01:18:19
being able to build a sustaining model
01:18:20
in this case for people to be able to
01:18:21
put away money
01:18:22
get some form of yield in this case so
01:18:24
long as hex is again getting some
01:18:26
general traffic
01:18:27
over time yeah the the biggest
01:18:28
difference between this and a normal cd
01:18:30
is the people that buy normal cities are
01:18:31
risk averse
01:18:33
and if you buy hex you're going to have
01:18:34
volatility and yeah and that's
01:18:36
and that's the dynamic of hexa's price
01:18:38
in this case is the increased volatility
01:18:40
yeah and that's the idea
01:18:44
do you want to hex is up 11 500
01:18:47
right now from january 5th do you think
01:18:51
hex could be up 11
01:18:52
500 if it if it did the normal
01:18:56
banks do
01:18:56
no we have to do things better and
01:18:58
different to get you a 116 x
01:19:01
return instead of a five percent return
01:19:05
and dips are actually how people make
01:19:08
money in crypto but people don't realize
01:19:09
that
01:19:10
in crypto when you have a closed system
01:19:13
when people lose money
01:19:14
where did it go somebody else made that
01:19:16
money
01:19:17
so when people come along and buy
01:19:18
bitcoin at 20 000 and then sell it at
01:19:20
three thousand
01:19:21
somebody made that money so so
01:19:25
this truth engine of getting people to
01:19:26
declare how long they're gonna stake for
01:19:28
and then penalizing if they don't and
01:19:31
showing all the trades online you can
01:19:32
see when people bought when they sold
01:19:33
who made money who lost money
01:19:35
you could see who's taking out loans
01:19:36
right because it's on ethereum there's
01:19:37
no like anonymity in there
01:19:39
uh unless you force it to happen with
01:19:41
like uh tornado debt cash
01:19:44
so all of that transparency and all of
01:19:46
that openness
01:19:47
it gives people the opportunity to
01:19:49
up and wreck themselves and make
01:19:50
somebody else rich
01:19:51
so if you want to buy a top and sell a
01:19:53
bottom you have that opportunity and
01:19:55
you're going to make someone else rich
01:19:56
if you want an emergency end stake and
01:19:57
not do what you said you would and stay
01:19:59
staked as long as you would you have the
01:20:00
opportunity to nuke your account
01:20:02
and crypto if you send your coins
01:20:03
directly to the contract address they're
01:20:05
gone
01:20:06
some guy just sent a million dollars to
01:20:07
the aava contract address it's gone
01:20:09
yeah they did that it was a sushi as
01:20:11
well some i think someone from uh
01:20:13
gate exchange yeah 400 000. yeah 400
01:20:17
000 tether and i was like i think they
01:20:18
did it again i think i think they sent
01:20:19
another 200
01:20:20
000 or something i think they did it
01:20:21
twice or maybe the 400 was split across
01:20:23
too
01:20:24
so crypto you have the opportunity to
01:20:26
nuke yourself and someone else is going
01:20:27
to benefit from that
01:20:29
and we declare these things openly hex
01:20:30
is the only website in the world that
01:20:31
talks about crypto going to zero on the
01:20:33
home page
01:20:34
this goes to zero it flash crashes
01:20:36
to zero and that ride from a penny to
01:20:38
twenty thousand dollars
01:20:39
the price dropped seventy five eighty
01:20:41
five percent three times
01:20:43
you gotta be ready for that we're the
01:20:44
most you know if you go to bitcoin.org
01:20:46
they don't talk about the price
01:20:47
if you go to ethereum.org they don't
01:20:49
talk about the volatility they don't
01:20:50
talk about the rollback
01:20:52
we talk about this on the homepage
01:20:53
it's the most honest website in crypto
01:20:56
and then people they try and demonize us
01:20:59
because they don't talk about price
01:21:00
because they're better than us when
01:21:02
really the only thing anyone cares about
01:21:03
is the price
01:21:04
and and they hide it and then you're
01:21:05
like hey guys you know there is a better
01:21:07
way
01:21:07
you could just tell the truth
01:21:09
you designed it to pump that's why you
01:21:10
put the happening in there
01:21:11
you're still trying to make a pump with
01:21:12
coin burning and lockups
01:21:15
everybody business design is
01:21:18
causing things to accrue value that's
01:21:20
what a business is a business accrues
01:21:22
value for shareholders
01:21:23
if you're not okay with accruing value
01:21:25
then you're not okay with business
01:21:27
then you're not okay with capitalism
01:21:29
then you suck it's really that easy
01:21:31
designing things to appreciate value is
01:21:32
beautiful you think ferrari designs its
01:21:34
cars to fall apart and go to no
01:21:36
they design them to be beautiful
01:21:37
and hold their value and they put
01:21:39
limited numbers on them
01:21:41
and they purposely limit things to make
01:21:42
them more value building things of value
01:21:44
is a
01:21:45
beautiful endeavor and i don't think
01:21:46
people should feel bad about doing it
01:21:48
but apparently
01:21:49
some people do you talk about price on
01:21:50
your website you're evil apparently
01:21:52
yeah well richard above all men i'm i'm
01:21:54
interested to see like i said how things
01:21:56
go and stuff and
01:21:57
again i mean above all like i think what
01:21:59
you've built is something definitely
01:22:01
unique in the space and
01:22:02
if it's something that's you know
01:22:03
different out there from more of the
01:22:05
traditional copycats and defined stuff
01:22:07
i'm interested to see how it goes man
01:22:09
and above all i'm gonna yeah i know it's
01:22:11
that no it's definitely i think in that
01:22:12
case so far it's done well and
01:22:14
i just above all again just want to say
01:22:16
man that's the love
01:22:17
tell people tell people how they can
01:22:19
find your app and stuff man
01:22:20
yeah in that case if uh people are
01:22:23
looking for again tapping into some of
01:22:24
the other sources in d5 right now
01:22:26
um you can always find digifox on ios or
01:22:29
android it's on the google play apple
01:22:30
store
01:22:31
we're adding a few more features we've
01:22:33
got a december release coming out
01:22:34
that'll hopefully clean up the user
01:22:35
experience even more than what we've
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