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  • okay, it's a great way you articulated that because again, if you look at back when Bitcoin was created at the time, it solved a bunch of problems in the market had and so again we, the market tested it, it had a use case which was Silk Road and again it brought a lot of value to people.

  • But then we needed the next stage and then ethereum came in with all of these wish lists, all the Antin Oculus wish list with the smart contract etcetera.

  • But of course it couldn't foresee that it itself might, you know, have its own growth issues and and things from seven years from now and it looks like Charles is trying to look, you know that 10 2030 years ahead maybe now since we at least have a base of what we maybe know what this is.

  • We can maybe see a little bit further ahead in time.

  • Um Now probably you can't see 100 years out, but I'm sure Charles is thinking 2030 40 years out.

  • Whereas that would probably be impossible with Bitcoin creation because you don't even know if it was going to go anywhere.

  • So that's a really good explanation.

  • And I think look even metallic has said in interviews that he's the guy that builds builds it and he's not the white paper guy.

  • He's not a big fan of white papers because he thinks the use test is the real test as opposed to you know, all of the theory.

  • And again I'm an M.

  • I.

  • T grad but I'm also an engineer.

  • So I went to work for motor company.

  • We built cars that went on the road.

  • I didn't sit in the lab and create theories.

  • So I see where both have their places and it looks like Charles is doing the longer game and that could create amazing piece of infrastructure.

  • I guess we'll just have to see how that plays out.

  • But again, the theory could come back, You know, we've got this new 2.0, moving from proof of work to proof of stake.

  • Um how do you see that battle playing out in the future?

  • And how do you explain that to your grandma when she's trying to find out what's up with proof of work, proof of stake?

  • And of course you've got the information war coming in that it's gonna ruin the environment and Ellen doing this.

  • What's your two minute answer on that?

  • And what will the future of that be?

  • Yeah, so here's here's one of the beautiful things about crypto I think is one of the most miss misunderstood misinterpreted things.

  • It doesn't really matter whether like to the to the average person, you shouldn't have to explain what proof of work is proof of stake.

  • The only reason why we're talking about it is because of the environmental argument for proof of work.

  • So I I do believe which proof of work is Bitcoin mining or crypto mining proof of stake is where the consensus of the network is done by nodes on the network that hold a certain amount of the crypto so they got all the motivation to send the transactions.

  • Lot of people don't care about that proof of work is scripted.

  • Mining proof of stake is where people hold crypto to verify the transactions.

  • Okay.

  • The only reason we're talking about is that the environmental concerns but here's the thing how many people use the internet?

  • Everyone basically right and 95% of the world I think is the last number that, saw.

  • how many people understand what an http protocol is.

  • I think the p stands for protocol, right?

  • We all go in and we all type it into the browser especially we had to start adding the S.

  • Two it right for the secure uh you know, website browsing, how many people can number one say what that is and number to explain how it works.

  • It doesn't matter.

  • Some people, I'm sure there's some people in the chat right now that are saying it's, you know, high throughput transfer what I don't even know what it is.

  • I like the fact that I don't actually know, I want to keep not knowing what it stands for.

  • Okay.

  • Uh but some people say, well, I know what that is.

  • Like, I can explain what that is.

  • Your the vast minority.

  • You're the vast minority, 99% of people, maybe 95 or 90% people that are browsing the Internet right now.

  • I couldn't tell you what that is and they use it every day.

  • It doesn't matter how the network comes to uh consensus.

  • What matters is that it comes to consensus now when it comes to the Bitcoin mining, like it's all in the news about the environmental stuff.

  • We could do an entire episode where I basically debunk all of these arguments about Bitcoin mining.

  • Well gold mining uses way more energy than Bitcoin mining does.

  • Mm Banking infrastructure uses way more energy then Bitcoin does.

  • Oh yeah and the Bitcoin mining, it's mostly done now on renewable energy sources.

  • So and continuing Elon musk and Tesla, they're given the ability to develop greener ways of doing things for Bitcoin.

  • They say you're not allowed to develop greener ways, you're not green enough right now, so you're done.

  • It's so silly.

  • So I think number just to get back to the crux of the question is how do I explain it to my grandma?

  • I don't have to, when it is working.

  • The best way that it should be working and it has adoption, which by the way, the Blockchain adoption curve is steeper than the internet adoption curve.

  • This is the future.

  • It's coming faster and quicker than anything we've ever seen in history outside of.

  • What's funny is, you know, the most adopted technology in history was a VCR But anyway, that's neither here nor there also went out pretty quick.

  • Uh, it's coming, it's in the future it's going to work when everybody is using it and they're not sitting there thinking about like, wow, I'm using Blockchain.

  • All they know is, wow, I'm using a censorship resistant social media platform, that's where the real win is.

  • And that's where we're heading in crypto defy, which stands for decentralized finance.

  • This is a $9 trillion per year marketplace.

  • I want to talk about our brand new defy Academy.

  • Our first program is called the defi Accelerator and we have been absolutely inundated with applications from around the world.

  • I'm gonna be talking about how you can profit from what I'm calling the greatest dislocation of wealth in human history, decentralized finance is already revolutionizing the world of finance.

  • You just don't know it yet.

  • I want to talk about the difference between defy and cryptocurrencies.

  • There's a big difference.

  • I want to go into how to trade the markets.

  • It takes a lot of discipline, it takes emotional discipline, it takes intelligence.

  • It's not an easy thing to do.

  • I'm looking for a small group of people who want to actively participate in this upcoming Deep by Revolution.

  • I'm looking for serious individuals only with real network who want to build this exciting financial infrastructure.

  • I'm looking for partners, collaborators, investors, colleagues who want to join forces and create real value and generational wealth.

  • If you're one of those people go to London, will that be before it slash defy and submit your application now you've got a chance.

  • Life all comes down to a few moments.

  • You have a chance now to join me on this incredible adventure.

  • For the next 10 years.

  • It will change your life.

  • The lifes of your Children and grandchildren.

  • Maybe the life of billions of people on this planet.

  • What are you gonna do?

  • What's the choice that you're going to make?

  • Mhm.

  • Mhm.

  • Yeah.

okay, it's a great way you articulated that because again, if you look at back when Bitcoin was created at the time, it solved a bunch of problems in the market had and so again we, the market tested it, it had a use case which was Silk Road and again it brought a lot of value to people.

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B1 proof mining crypto stake people explain

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    林宜悉 posted on 2021/07/06
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