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3 Hours & 37 Minutes Of Richard Heart (Twitter Spaces)
Jul 6, 2022
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02:26:43
attacks to find out where the [ __ ]
02:26:46
like all these these like parade of
02:26:48
imaginary horrible arguments were so
02:26:50
stupid like
02:26:51
everyone
02:26:52
no nation state is going to make shot
02:26:54
two five six miners when they can just
02:26:55
write a law with a pen that says it's
02:26:57
illegal
02:26:58
and watch the price drop 99.9
02:27:01
so like so
02:27:04
stanford university
02:27:05
stanford university did a study of proof
02:27:07
of work versus proof of stake
02:27:11
in their in their findings
02:27:13
they believe that the only way that
02:27:15
currently that you can have a proof of
02:27:16
stake network that's legit is either to
02:27:19
have check pointing
02:27:21
or
02:27:22
what was the other thing um
02:27:26
yeah but checkpoints
02:27:36
[Music]
02:27:39
because obviously anchoring the proof of
02:27:40
work just admits that proverbial works
02:27:42
the only secure consensus but you just
02:27:44
want to see what i don't get here's what
02:27:46
i'll get i i take your own argument and
02:27:48
use it against you and you pretend it's
02:27:50
not happening you said stanford said
02:27:52
checkpointing was okay
02:27:53
and then you manipulate the argument to
02:27:55
pretend that they didn't say that and to
02:27:57
then say proof of work better because i
02:27:59
think so look stanford said it it's
02:28:01
centralized though it's centralization
02:28:03
having checkpointing is centralization
02:28:05
you don't you can't opt out of that
02:28:07
you're not complying your own client
02:28:09
that you wrote from scratch you're
02:28:11
sucking developer dick anyway and it's
02:28:12
unavoidable you're gonna suck dev dick
02:28:15
when you compile your own wallet you're
02:28:16
not gonna audit your own [ __ ] wallet
02:28:18
you're gonna suck dev dick when you type
02:28:20
in your password and your [ __ ]
02:28:21
keyboard hoping you're not keylogged
02:28:23
you're gonna suck dev like you're
02:28:25
sucking
02:28:26
it's not a voice i think that's a weak
02:28:27
attitude richard i think that's a very
02:28:29
weak attitude because it's basically
02:28:30
saying it's basically saying because
02:28:32
somewhere else in the chain there's um
02:28:34
like people not behaving with the
02:28:37
optimum security we should just throw
02:28:39
everything out the window and not care
02:28:41
about security on any level no no no no
02:28:45
it's saying that someone the card he
02:28:46
could [ __ ] you and chose not to the guy
02:28:48
that wrote your wallet could also give
02:28:50
you a valid checkpoint it's very
02:28:52
reasonable argument the guy that you're
02:28:54
already giving your [ __ ] keys
02:28:56
could also just give you an honest
02:28:58
checkpoint
02:28:59
but what's not available actually
02:29:00
because you didn't do that your wallet
02:29:02
could just have all your keys sent to
02:29:04
him it will
02:29:05
anytime he wants
02:29:08
so yeah you're already sucking his dick
02:29:09
he can give you a good checkpoint it's
02:29:11
not a [ __ ] hard argument at all
02:29:13
very reasonable argument
02:29:16
as a matter of fact that's probably
02:29:17
superior to trusting the [ __ ] miners
02:29:19
now that you bring it up because i don't
02:29:20
trust them [ __ ] a bit
02:29:24
well look i think the aim here is to
02:29:26
have something that is truly trustless
02:29:27
right ideally ideally nothing you want
02:29:30
to be able to get networks
02:29:33
the aim is to get rich and your coin
02:29:35
sucks for that and the aim is to be
02:29:37
secure and your coin sucks for that
02:29:40
the aim is not to blow up the goddamn
02:29:41
earth your coin sucks for that
02:29:44
but i don't understand what your coin
02:29:45
isn't good in anything
02:29:49
perfect segue richard because i was just
02:29:51
about to bring up the energy fudd good
02:29:53
let's go
02:29:55
so basically
02:29:56
obviously obviously this the what we
02:29:59
just talked about with proof of work
02:30:00
versus proof of stake
02:30:02
does actually tie into the energy usage
02:30:05
argument because of the fact that if you
02:30:08
it's only if you believe that proof of
02:30:10
work is unnecessary that you can be like
02:30:12
this is such a waste of energy otherwise
02:30:14
it's a good use of energy if you believe
02:30:15
it's the only true way of reaching
02:30:18
a signal right so
02:30:21
i believe that the bitcoin energy fight
02:30:23
is way overhyped right
02:30:25
there is a while there is a massive
02:30:27
trend there's a massive trend in bitcoin
02:30:29
mining towards renewable energy
02:30:31
and more importantly stranded energy
02:30:35
so
02:30:36
the whole story man this is very similar
02:30:38
to that
02:30:39
like
02:30:42
yes one day maybe you'll be unstranding
02:30:45
energy but today you're [ __ ] not
02:30:47
no they're already doing it let
02:30:50
yeah like what two percent one percent
02:30:53
[ __ ]
02:30:54
three
02:30:55
it's almost like crazy sure yeah but now
02:30:57
that maybe the bear market kicked in
02:30:58
maybe you can't afford to unstrand [ __ ]
02:31:00
anymore
02:31:02
maybe the economics don't even work now
02:31:04
these early examples got like proof of
02:31:05
concept that other people will be like
02:31:07
hell yes we can we don't have to flare
02:31:08
gas we don't have to you know we've got
02:31:10
this waterfall over here like stranded i
02:31:12
think the stranded energy argument is a
02:31:13
strong one and so
02:31:15
in in a recent interview that you had
02:31:17
with that um that big point there was a
02:31:19
big point
02:31:20
on the bitcoin magazine channel you
02:31:22
remember the bitcoin magazine channel
02:31:23
richard yeah yeah on on that interview
02:31:27
you said
02:31:29
if you love bitcoin mining you must
02:31:31
really love nickel smelters right
02:31:33
so yeah the difference the difference is
02:31:36
that you can't pick your nickel smelter
02:31:38
up and move it to a
02:31:41
new location whereas with a bitcoin
02:31:43
miner you absolutely can you can
02:31:47
country another enemy source i think
02:31:48
stranded
02:31:52
oh sorry okay okay accurate languages
02:31:56
you can't move without great expense
02:31:59
time effort et cetera right
02:32:02
but why would you need to move like why
02:32:05
why would you move
02:32:06
there's no reason to move
02:32:08
because of changes in that in like so
02:32:10
just to chase stranded energy or to or
02:32:12
no but like if the political political
02:32:15
environment is the political environment
02:32:16
of where you set up that particular
02:32:18
mining operation
02:32:21
none of that [ __ ] applies to normal
02:32:23
businesses bro
02:32:24
i went to iceland okay find helicopters
02:32:27
driving monster trucks
02:32:29
banging icelandic
02:32:31
okay cool that sounds awesome and and
02:32:33
when i was there
02:32:34
i physically went to geothermal plants
02:32:37
and
02:32:38
there they were
02:32:40
they take water
02:32:42
they send it down to the [ __ ] ground
02:32:44
there's heat there it makes steam it
02:32:47
spins turbines
02:32:48
it takes like a few guys to run like a
02:32:51
plant will last like 30 [ __ ] years
02:32:53
and it doesn't take many guys to run it
02:32:55
at all it's the most it's the most
02:32:56
energy efficient
02:32:58
cost effective
02:33:00
electricity like on the planet so i'm
02:33:02
told
02:33:03
it kind of makes sense you just you [ __ ]
02:33:06
water and it makes steam and then you
02:33:07
just [ __ ] the same water back you don't
02:33:09
even need new [ __ ] water wow crazy
02:33:12
this is literally jack in the earth for
02:33:13
energy
02:33:15
yeah and so they have a shitload of
02:33:17
aluminum smelting there or whatever they
02:33:19
[ __ ] call it aluminum refining
02:33:21
now at what point is the [ __ ]
02:33:23
volcano gonna stop providing heat it
02:33:27
ain't
02:33:27
and so they don't need to [ __ ] move
02:33:29
it's fine it's all good and this [ __ ]
02:33:32
ain't gonna change anytime soon
02:33:33
so like this idea that like you're gonna
02:33:35
check
02:33:36
man if you guys want to go move your
02:33:38
[ __ ] miners around to like
02:33:40
stop things from being flared or
02:33:41
whatever
02:33:42
cool but i'm actually not even sure the
02:33:44
mechanics of how that makes it better
02:33:46
like
02:33:48
ed
02:33:49
can you explain to me this
02:33:51
so so first of all if proof of stake
02:33:53
works which i'm pretty sure it does
02:33:55
because we've had successful proof of
02:33:56
stake networks for quite a few [ __ ]
02:33:58
years now
02:33:59
but you guys wish they didn't you wish
02:34:00
they all failed or some [ __ ] but they
02:34:02
didn't they work
02:34:03
so
02:34:04
if
02:34:05
it with that in mind if bitcoin would
02:34:07
just switch to proof of stake the world
02:34:08
would be a better [ __ ] place and the
02:34:09
bitcoin price will pump
02:34:11
but if we live in this world where you
02:34:13
guys never want to [ __ ] make that
02:34:14
change you just love giving electricity
02:34:17
companies money
02:34:18
let's go into the direct dynamics of
02:34:21
how the [ __ ] capturing this energy
02:34:24
actually reduces pollution i want to
02:34:26
understand this
02:34:27
so they have methane gas or whatever the
02:34:29
[ __ ] coming out of the earth
02:34:31
and it's bad for the ozone so they go
02:34:33
you know what let's catch it on fire
02:34:35
instead and then we catch it on fire
02:34:37
it's less bad for the ozone
02:34:39
and then they catch it on fire and then
02:34:41
the bitcoin miner comes along and then
02:34:43
somehow magically the pollution goes
02:34:45
away somehow explain to me how the
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