In this episode of the Crypto Investing Podcast, I’m joined by Richard Heart to take a critical look at his latest invention, PulseChain.
We’ll also be discussing Hex, Bitcoin, Ethereum, personal development and much more.
Please note: I’ve used an AI transcription service, which means there’s probably plenty of errors. At some point I’ll get a human to correct it.
Richard Heart 0:00
Hello, everybody, Richard Hart here, especially happy today, Lewis Thomas on the show, he’s a YouTuber as well got $23 million plus rates with the sun foundation to do medical research to save your life doesn’t save your life, it might save your pets lives, your family’s lives for kids lives, or humans for the rest of times lives. It’s absolutely amazing. I don’t know of any other project or cryptocurrency that’s ever generated so much money, and just a couple days for charity, specifically one that might save your life. The leaderboard has two top guys on it $20 million guy that he sacrificed aetherium 10,000 aetherium. And I think the number two guy put in $11.1 million of usdc. And then I think the biggest donation to centralization was 10 million out of uscc from Coinbase. By the way, if you’re doing a sensitization and you’re in the UK, you need to use your UK address is at the bottom of the Donate page. Louis, you want to introduce yourself?
Louis Thomas 0:57
Yeah, sure. Hi, everyone. My name is Lewis Thomas. And essentially, I’m just interested in getting smart about cryptocurrency investing. That’s my thing. That’s what I’m interested in. I want to form my own opinions, which is part of the reason why I’m talking you today, in spite of the controversy that tends to surround you. But that’s fine. I find that you know, typically, there’s a lot of opposition to the greatest opportunities. And so that’s completely fine. I’ll be I’m talking to you now on your channel. Of course, this will be coming online. And so I thought it’d be okay, if you indulge me on just a little bit of introduction to yourself as well. And of course, I thought it’d be fun to share my own context of how I know you. If that’s all right. And so I’ve been watching you since I’d say about 2017. I’m a fan. I’ll just say it is what it is. I’ve taken a lot of value from your content, both in terms of the kind of the information and the entertainment side of things as well. I mean, there’s a lot of entertaining conversations even if you go back to 2017. I would recommend people check out things like your conversation with Roger vere Bitcoin cash. It’s just kind of interesting, historically. And so I’ve watched your content. Yep. Yep. History. Yeah, history as a way of kind of indicated people. And, and then at some point A few years back, I saw you start talking about hacks. And that in the whole kind of coin you wanted to create there, you’re thinking, it was interesting to watch that development. And I also was really, really interesting. I was somewhat skeptical about the kind of percent chance of success it had. But I didn’t know that if it if it was going to be successful, it would be the price would appreciate a lot because of all the kind of pump mentals you put into it. And so I did a little bit of hex in myself, but money in tax, and it did extremely well. So I feel like I owe you a beer or something for that. I
Richard Heart 2:39
mean, how many extra you up? Did you ever measure it? A lot? A lot? I’ll say what measured it think about it, give it a second.
Unknown Speaker 2:47
I would say I think about 60 or 70x.
Unknown Speaker 2:53
Okay, before staking or after staking. Before. Okay, so you’re probably up 120. At least with my gasket. Yeah, it’s
Unknown Speaker 3:04
done pretty well. It’s done pretty well. And so of course now I’m watching with a lot of curiosity about what you’re doing with with pulse train as well. And so I will definitely talk about that. But I’ll be putting this on my channel later. So I’d be interested just for you to provide a little bit of an introduction to yourself, as well for my audience, just in case they’re not familiar with who you are.
Richard Heart 3:24
So I’m Richard Heart. I was a retired serial entrepreneur back in 2005, maybe two or three actually. So I started traveling the world. I used to have internet marketing company had 150 employees to 60 million a year turnover. My first business was a car stereo store. My next business was search engine optimization shopping cards, had a client that did well in mortgages, started a mortgage company tried other things, cash advance loans, miracle cleaner, foreclosure bailouts, and then sold it to start traveling the world then got robbed in Central America, got out of there, lived in a hotel for five years, just you know, going everywhere. That seemed nice. And then I was traveling, I used to just play a lot of video games and read this website called Reddit and I saw that someone tried to make their own money out of thin air called Bitcoin and some guys sold his house for it. Back when I was $1, and then I didn’t I started mining it on my GPUs and I was mining by myself full blocks 50 Bitcoin block rewards with no pool. That’s how early I was. You didn’t need a pool to mine your own full 50 Bitcoin block rewards. The price back then was 50 cents. So then the wired news article came out that showed that there was real adoption on the Darknet and I followed with everybody else and bought the top helped make the top 30 and then wrote it down to two and then merged it up to 1300 and wrote down to 266 and read it up to 20,000. And, you know, I’ve been in this game for about as long as you can be in it. So, what else? Yes, I was retired multimillionaire in 2003. Bitcoin was invented in 2009 I started mining in the first quarter of 2011. And now here we are 10 years later in 2021. And I invented some things that are better than Bitcoin. Because I know what’s good at I know it’s bad at, and we just invented new features that never existed before. So, you know, people don’t realize that in Bitcoin miners sell the price down. And that’s all they do. They don’t buy bitcoin they sell it, what they buy is electricity and hardware. And so the bitcoin price gets harmed by miners who sell the price down to get money to go pollute the environment, and enrich middlemen companies, these basic companies that exist in countries that you probably don’t live in, and they don’t talk to you, and they’re not on Twitter, and they don’t care whether you live or you die. And you’re like, wow, this is not good for the price. It’s not good for the environment, it’s completely unnecessary. We’ve got a dozen other successful proof of stake systems that do not destroy the environment, and they work just fine. And everything’s going great. So why do you have to keep doing the security theater and dumping the price? To pretend that’s where the value is? The magic is, cost is what you pay value is what you get. And cost is not value. Cost is cost. negative externality is bad. And so proof of stake system solve that hack solves that. Now, we still do have a very small part of negative externality in that we pay aetherium fees to aetherium miners, and they have that next negative externality of burning the environment for proof of work. And so I decided I’ve solved that too. So hex is the I believe the highest performing asset that’s ever existed. It’s gone up 386,000%. In 557 days, there’s about a year and a half. And then that’s before staking. And if you were staked for a single day, November 19 of a year ago, or two years ago, whatever. One of this I guess, a year ago, they you got a minimum of 30% payout for that day. Would you stick for one day you got 30% Pat? Have you stayed for longer, you got over 100%
Richard Heart 7:02
so and that and then there’s all these other days you got interest that weren’t that day. And so you’re looking at 5000 6,000x returns in a year and a half, with 100% flawless function on the uptime uptime on the front end 100% flawless function and uptime on the backend 100% uptime, a flawless function on the trading. Well, everything else around us fails. Everybody’s downtime, everybody gets hacked, rug pulled exploited, sending hostage video selfies to exchanges to beg for your money. We don’t have any of these problems. So I created a miracle. It does exactly what it was designed to do. And the community is amazing. The logo is amazing. The name is amazing. Everything everything’s amazing. And then for some reason, people just can’t believe it. And it reminds me of when Bitcoin launched and I was there everyone said Bitcoin was a scam. Everyone said it couldn’t work. Everyone said it was a Ponzi scheme. Well, that’s funny, because here we are 10 years later, and it was worth a trillion dollars. trillion with a T. And the world’s richest guy bought billions of it. Governments are buying billions of it. billionaires are buying billions of it. Now who was right? I was right. And I was 10 years early. And then a guy like Michael sailor that was demonizing Bitcoin in 2013. He’s still on Twitter, he didn’t delete it. He says Bitcoin is gonna die like online gaming dead. He said that in 2013. Then he decides to buy the top. I think he’s not even in profit. Now. The billion dollars of Bitcoin that he bought, I don’t even think he’s in profit, which means if he went to sell with a slippage, you’d be at a loss. So then this guy’s got a million followers. But I was there 10 years earlier. I know more about it than he does. I made more money than he did. And you’re just like, Hey, man, what’s going on here? Just funny to me. You know? You see him, you see him an interview saying literally sell your house, mortgage, your business, sell everything you own and just buy the world’s, you know, safest, most durable asset. You’re like, Wait a second, like my new coin doesn’t inflate at all. Cost doesn’t inflate at all. You guys inflate 1.8% a year now? Which one’s harder? You guys have a two inflation bugs where anyone could get as many free coins as they wanted. It’s never happened in theory never show you like, Hey, guys, let’s measure the reality. You know. And so I think people really, I come so harsh and so strong with reality that these these sycophant, you know, PC politically correct little soy boys, they can’t handle it. They can’t handle the truth. They can’t take it. And so they just start screaming. scam scam scam, you’re like scam really, everyone on my team is winning. We’re counting everything. You guys are the ones that are paying out their bitcoins at half of its all time high theorems half of its all time high hex debate all time high a couple days ago. We’re killing everything. And there’s chat about it. So some of them will join us. And then some of them will just stay butthurt like Peter Schiff will hate Bitcoin forever. Okay, fine, just keep loved being a loser. And then some people hate x forever, they can just keep being losers. Now what’s funny is there’s people that hate hacks but love post was very interesting to me. Like the founders of other very large cryptocurrency they’re like hex didn’t interest me but pulse we’re getting it and this is founders of other large The old cryptocurrencies telling me this in person. I love it. I love it.
Unknown Speaker 10:04
That’s great. You touched on a lot there. I feel like in terms of guidance conversation, I think it’s a good place to start with pulse train, since this is essentially your, your newest project that you’re working on. And so again, for people who may not be familiar with you, or pulse, would you mind just giving a sort of elevator pitch for what Paul shares exactly?
Unknown Speaker 10:21
Well, Bitcoin tried to be the world’s first cryptocurrency. And it did that. And it tried to be peer to peer digital cash, cash failed entirely. nobody uses it in a peer to peer format takes an hour to do a transfer. It takes, you know, 20 bucks, 15 bucks 10 bucks to transfer maybe three bucks now because the bear market? I don’t know. It’s just too expensive. Low throughput no features. You want to de risk you want to get into stable coin to take off your your crypto risk for a little bit. Start begging middlemen, please middleman let me send you my Bitcoin please send me some stable coins back. It’s all disgusting. It’s all terrible. to inflation bugs. The theory was better than that. You want a stable coin? It’s on the network. You want leverage? It’s on the network. You want options? It’s on the network. You want anonymity? You want z k roll ups anonymity? tornado cash, it’s on the network. You want anonymity in Bitcoin? probably not gonna happen. Good luck hoping that in your coin mixing rotation that the other members of the anonymity set aren’t just one guy, and then they all know which one you were? How do you know it’s not? So you know, it’s that like aetherium has vastly superior throughput roadmap, feature set, it’s just way, way better, which is why from the COVID dip the top, a theorem outperformed Bitcoin by 3x. So when you look at like hex next is up 750x first Bitcoin in a year and a half, and it’s only up like 200x versus aetherium. Because aetherium beat that coin so hard. But even as great as aetherium is, it’s got problems. So a couple months ago, it costs $300 to just swap the cost $100 to transfer an ERC. 20. It costs $50 to transfer Ethereum, it’s not acceptable. It’s not okay, a lot of use cases, a lot of apps got priced out and could no longer function. So the long comms pulse chain, and pulse chain re enables all of those apps to be able to function again, because if he started out at zero, and it has higher throughput, and it doesn’t destroy the environment, and it has better price performance, because it burns 25% of the fees, and there’s no inflation. And it’s better than a theorem 2.0. So theorem 2.0 is trying to fix the problems with the theorem one point. So what are they trying to do? They’re trying to get rid of the miners. Okay, Paul’s chain does that. They’re trying to reward people to hold with staking. But the problem is, and that system, you’ve got to have 6032 eath, in order to be a staker. That’s $64,000. So what is everyone going to do, they’re going to give the keys to middlemen, the opposite of why cryptocurrency was invented. And we’ve already seen over 100,000 aetherium, just about $200 million last two people collecting people’s keys to mine a theorem 2.0 for them, and it doesn’t even this network doesn’t exist. And people have already lost 100 million dollars, because it’s a poor design. It’s terrible design. And so even if you had 32 eath, now you got to go into the business of being a server administrator. And if you have downtime, or a bit flip, because of the cosmic ray hit your CPU, you get to get slashed and lose money. So you get to buy yourself a job for 64 grand and start buying servers and running them. And it’s going to be very hard. It’s a terrible design. And after all that, you get to beta test brand new software and lose your money to find out where all the bugs are. That ain’t no fun. That ain’t no fun. So taking aetherium 1.0, that has dead years of hardening. Because people have lost so much money using it, they know where the bugs are, and they fixed them. And using that, and removing the miners and using a proof of stake system where you could delegate your stake to somebody else. And then they never have your keys, you hold your keys, and then you don’t have to have 32 eath it’s just a it’s a better design. So and we burned 25% of the coins. And the theorem 2.0 doesn’t even do that there are 2.0 doesn’t have coin burning. So we’re going to beat a theory or to point out a market with all the coins. It’s a full system state is gonna be the largest airdrop ever in history. 10,000 coins that are on a theorem will now be on Paul’s chain and your keys just work. You don’t have to do anything. The keys just work. You go into meta mask, you change one network setting, you’re on Paul’s chain instead of a theorem. Because it’s it’s a gift fork. It’s basically the same stuff. And our team has already improved Ethereum our commits, one of our commits has already been adopted and accepted upstream into geth, which is 90% of the Ethereum network. And our developers are awesome. The only thing we’re waiting for, is they’re building out the server infrastructure now so that we can release the access to the Git lab so that everyone can read the code, start compiling and see how awesome it is. That’s the only thing we’re waiting on right now. And like I pray it happens this week. Please, please happen this week. Because the sacrifice phase is over in, in two weeks, basically. So in two weeks, I’m like, I don’t know, eight hours or 12 hours or 14 hours or something. You’re not going to be able to sacrifice and get points for free pulse and you can also give charity scns data You get 75% of the points you’d get but you also might get a tax write off. And you could support medical research and save your life. So yeah, you everything we’re saving environment, we’re saving your life. We’re, you know, getting people’s keys into their hands, removing counterparty risk, removing middlemen, the world’s largest airdrop, it’s just all amazing.
Louis Thomas 15:22
Yeah, you mentioned that sacrifice phase, would you mind going into a bit more detail about that? That’s quite confusing for people.
Richard Heart 15:28
I mean, it’s pretty easy. So new coins come into existence all the time. And they get airdrop for free to users of a specific set. And so you know, one inch, airdrop users of one inch, and then they use their own game theory metrics as to who would get more and who would get less uniswap air dropped liquidity providers and users of uniswap and venture capitalists and their core team and they get to choose game theory as to how they would divide up the ownership of that new coin worked out fine sort of billions of dollars duct taped on token duct tape right on zip it was totally functional product work fine. They duct tape this token on everyone got to make billions of dollars because people love their duct taped onto against for some reason. Okay, cool. Love uniswap the invention By the way, I think it’s a fantastic invention. The duct tape and it’s not it’s not interesting. And then what are other tokens that got away for free to have game theory GRT G or C or g? I don’t know gitcoin had Cogan tornado cash as token it Mexicans have used these because I’ve advertised them very early and they didn’t qualify for these cytokines made a killing in the swap airdrop millions and millions. Millions in the one inch airdrop not sure if millions but I think millions in the tornado cash airdrop, you know, and now I think there’s a fox, a fox, airdrop from the shapeshift guys, and hexagons are gonna make millions on that too. So if anybody’s listening to hex can go see if you get your Fox airdrop for free from the the shapeshift guys and go dump it and consider sacrificing it for the sens foundation or consider sacrificing it. It Paul said info for points for you know, free tokens the future, technically you’re making a political statement that you believe blockchains are speech and speech is a protected human right. So that’s what the sacrifice is to create that set of people that’s going to get free stuff. So sacrifice basically is a way to create a set of people of similar political mind that you want to airdrop free things to all these other previous airdrops had their own game mechanics as to who would get the free coins. And this is the game mechanics that I chose, you want to donate to charity, you get points, you want to sacrifice these other addresses to prove a political statement, you get points. That’s the vast majority of all the all the points. So like the the theorem holders and diluted by 10,000x. So if you’re theorem holder, you’re gonna get 110 1,000th of what you used to have, as far as percentage of percentage ownership of the network, because you’re gonna be diluted by 10,000x.
Unknown Speaker 17:53
And you said that it’ll be next few weeks Did you say of kind of mainland mainland official launch have
Unknown Speaker 17:57
been done for like a while and just having done because not enough, you need the server infrastructure to see the network for everyone else to like, pull down all the blocks. Because if you want to run an archive node, you’re going to have to seed terabyte terabyte or two, I can’t remember how much it’s about one or two terabytes of historical theory and data. Historical theory. And, yeah, I mean, I, I’m going to lobby the devs to like cut corners. And just because it’s just a test net, and it doesn’t matter if it fails, we don’t need 100% uptime, like we have everywhere else, the test net can go down, no one cares, it’s not worth money, it’s test that. So I’m going to try and convince the devs to like cut corners and get the test out quicker, with just less load balancing and redundancy and DDoS protection, also stuff like just fine, don’t have those things and just get us to market quicker, so we can show the code and brag about it. And then you could redo it with all that fancy crab later, I have a second test that, you know, so I think we’re gonna have a couple iterations of test nets. Because there’s a lot of, you know, we’re doing a lot of stuff, right? There’s, we have to there’s a 30 day, if you get free policies and a theory holder, you’re going to get that taken away from you and deducted 30 days later, because we’re not gonna reward people that are, you know, not participating, we’re not going to reward apathy, we reward engagement, we don’t reward apathy. So you got to test that, then you got to test that the set of all the sacrifices, you know, their keys work properly, and then you got to test that a bot or contract, whatever you want to call it goes and repairs, all the ratios and all the automated market pairs, because pulse is so much more plentiful than hearing was that all of those, they need to have the pulse side moved up to make up for all the extra pulses in the world. So that those ratios all kind of makes sense again, and there’s like, you know, to play, I guess that about 2.5% of supply is going to need to be inflated in order to balance all those out. So yeah, so you know, it’s awesome.
Unknown Speaker 19:57
Yeah, that’s cool. I feel like we got a solid, solid intro. The polls there. So at this point, I have some more critical questions for you. And so you point to a large part of the kind of reason for polls being issues with aetherium. Lord knows aetherium has plenty of those fees and whatnot. I’ve seen this kind of rhetoric come from many other projects who tried to release their own kind of smart contract platform as well. So even back to 2017, you had the likes of EOS that claim to be or Neo that claim to be more scalable. In 2021, you’ve got the likes of Solana, and you’ve got by Nance smart chain, of course. And so with all these other kind of rivals who generally haven’t really kind of eaten into aetherium, that much, I would say, what would make what would differentiate pulse and respect?
Unknown Speaker 20:39
i? Well, first, I wouldn’t say that they haven’t eaten to an F into a theory, Matic and bFc has taken huge chunks out of it there. So there’s over $8 billion of coins in Matic last night looks. And that is admin keys, and they could steal your money whenever they want, or freeze it forever at least. That’s disgusting. That’s the exact opposite of why cryptocurrency was invented. So for the record, if you want to sacrifice your magic or a bunch of other top coins on Matic, the sacrifice phase supports it. It supports a lot of different chains. So Matic you know, it’s just a fork of aetherium with higher throughput, but disgusting admin keys. BSc is just a fork of aetherium with higher throughput, but instead of rewarding the original founders of projects like uniswap, they make copies of it and then enrich the copycats. So in our system, we bring the entire system state. So now you’re enriching the original founders instead of copycats. And we come with all the coins, it doesn’t launch blank. And there’s no admin case. So it’s a it’s a better BSC, it’s better Matic it’s a better etherium. And, and having, you know, if you look at the chat room alone, I have been talking about hacks for years, for years, and there’s only 25,000 people on the chat room. There’s like 35,000 people in the AWS chat room, and it’s only been open for a couple of months. People understand policy easier, because it’s just like, hey, it’s a theory but better when you try to explain hex their eyes glaze over glaze over, they’re like white, it’s just crazy. They can they just can’t seem to get it for some reason. So policy is an easier sales pitch. And if you look at it, I mean, a theorem does have a larger market cap, then tax, you know, has a 2x larger market cap than x currently. And so it is currently known to be a very profitable market. And if you look at the appreciation of other coins with smaller features that’s like Matic or BSC, they’ve done extremely well. Even a theorem classic, which is a joke is worth billions and billions and billions of dollars and gets 51% attacked all the time. No one cares. still worth billions and billions of millions of dollars even though, you know, relatively not useful, like so. We’re beating aetherium 2.0 to market with a superior product.
Unknown Speaker 22:58
Okay, it’s awesome. And so you said as well that there’s going to be for every kind of ERC 20 token there’ll be one transporter over the past ERC. 20s. Yeah, okay. Sure. PRC 20s. I have a question. I know, you’ve been asked this before, I’d be interested in any kind of updated thoughts you have on this. I’m struggling to get my head around the actual kind of valuation of these coins. sweeter, whether it’s whether it’s hex or something company, training, whatever a job, any of the thoughts. Is it in terms of is it rough percentage, will it be worth roughly half on hex or something like that? Or
Unknown Speaker 23:27
Well, I mean, so this is a really well designed system. I’ve done a lot of good things here. Some countries tax you on value when you have dominion and control over it, and could have sold it for money. They want tax. So it’s wonderful, perfect and beautiful to receive coins when they have no value. And so if you receive your coins when they have no value, they can go up and up and up and up and up. Don’t worry tax my CSL. Still, like Satoshi invented Bitcoin minted a million coins for himself doesn’t know any tax was he sells. So making sure that Paulson, all of the tokens on at launch at zero value is a design consideration. We take it very seriously. Now, let’s say that network’s up, everyone’s got their coins, they’re trading around their valueless coins. And then lo and behold, the first price is found. Where will that price come from? I think it may come from a bridge between the Ethereum network and the pulse network. And then someone that is trading on a pair on that bridge can decide what they’re willing to part with their stuff for. So I and then once one thing has value, so once pulse has value, everything else has value that it’s in uniswap. Because you can route from anything on uniswap to anything else. And so once pulse has value, all of the ERC 20s are going to have value and then we’re going to get to find out things that are truly interesting. For instance, tether used to be fractional reserve might still be, but used to be, because they had $600 million seized by a Polish bank were seized by the Polish government from a Polish bank still held its peg. So we have proof of evidence the stable coins can hold their peg when fractionally reserved. How far fractionally reserved kind of stable coin go, and still holds peg, can it go to zero fractional reserve? We’re gonna find out, because you’re not gonna be able to redeem your pulse USD T for dollars, you’re not gonna be able to redeem your POS usdc for dollars, you’re not going to be able to redeem your policy usdc or die for dollars. But you will be able to like, get the locked other tokens that allowed you to mint those. So basically, no one in the world knows what value stable coins will have on Paul’s chain. But I’m willing to bet it’s not zero. the stupidest coins in the universe created out of thin air that literally just change the logo. Hey, it’s shibui new read a new bikini, new baby doji new, you’re just like, is this real life? Is this is this the industry that I’m in? Because this is disgusting. I hate this. You just change the JPEG. And then now it’s a new thing. You just keep changing the logo. That’s what you’re doing now. Yeah, that’s what they’re done. So if those things have value, I would imagine that the stable coin would have, you know, an outlook that they do have admin keys that could nuke all the coins, but then they might get sued by their users, because they would have just robbed their users if they hadn’t value and invalidated them all. So it’ll be very interesting to see what happens, and particularly the stable coin case. Yeah, I
Unknown Speaker 26:30
pretty much agree with you. I think there’s definitely going to be a nonzero value. I can’t figure out who would who would be audacious enough to actually buy those things themselves to buy a stable coin on hex, or
Unknown Speaker 26:42
here’s the magic, uni socks, you know, what yunusov Xr? Yeah, is a joke. Well, the audience doesn’t don’t, unless you want to know, feel free, feel free. Okay. So the founders of uniswap, decided as a joke to launch a market selling socks that had uniswap written on them. And they had like 100 pairs or something. And then those were priced and a theorem. And so guess what happens? Because there’s an order book liquidity on both sides, one side is socks that you can redeem for actual physical socks. And the other side is aetherium, as the price of aetherium goes up, because they’re interchangeable, so too, does the value of socks. And so because of Ethereum price appreciation, the value of a sock, two socks, a pair of socks, was like $40,000, that same stupid crap is very likely to happen. On these pulse pairs, when one thing goes up, the thing that’s tied to it goes up. And so even if you didn’t want to, quote, play the game, the game is going to get played, I’ll tell you another thing. That, that buy it, that’s going to go and harvest PRC 20s to even out the balance with the, the more common pulse, it’s going to take that liquidity and either put it back where it harvested it or put it into another uniswap work. And then the game can’t like the people that used to have that liquidity and would have been able to pull it and stop the game from being played, they’re no longer able to stop the game from being played. So if you’re like a link Marine, and you’re like, you know, probably a lot of them are gonna love balls, but some of them didn’t love balls and like, I’m, I’m gonna pull up pull my liquidity like, Well, not really, you’re not because what used to be your liquidity and your liquidity anymore. And so now, there’s always, you know, that people, people thought they’re going to stop the game from being played, they’re not going to be able to stop it from being played. And you’re going to have coins, I think, that are more popular on pulse and they weren’t a theory. So part of a lot of coins just can’t operate on a theorem any longer. It’s too expensive period.
Unknown Speaker 28:51
Yeah, so part of the pitch of policies that you may or may not get a whole bunch of additional tokens that have nonzero value, potentially quite high.
Unknown Speaker 29:01
Well, yeah, I mean, look at the history of airdrops, you know, uniswap airdropped created a token of thin air duct taped and under project doesn’t have any relationship at all nine, it goes locked, done, they just duct tape to coin on, everybody made billions of bucks, money from thin air, same ol tornado. Same with gitcoin. Same with all these air drops. They go up and where does all the money come from? I have no idea. But they have values infinitely higher than zero, hundreds of millions and billions of dollars valuation. So those things habit. Why wouldn’t these things
Unknown Speaker 29:33
I know a lot of people watching this are particularly interested in hacks, of course as well. And so in relation to polls, do you have any update thoughts in terms of whether or not over the longer term you would expect more value accrual on E hat versus v
Unknown Speaker 29:45
x? It really it really has to do with what the market decides. If the market thinks that a higher throughput lower fee ecosystem with the same exact code the same exact coin is worth more Then the higher fee, slower network, then you might see a higher value on PX than E x. The market has to decide it my personal preferences that I don’t want to see cheap x anymore. I prefer to see x expensive everywhere, because it just feels better. Like when I wake up next to making new all time I have a better day. If I wake up and there’s a worst day. So for my own emotional health, I prefer expensive hacks all over the place in general, I mean, look, no one knows, this has never been done before. This is the first time in the world that there’s been 10,000 new coins birthed into existence with who knows how many trading pairs? I mean, there could be 30 40,000 trading pairs. So good luck coin ranking sites have fun. I just doubled your workload. Enjoy it.
Unknown Speaker 30:45
Yeah, I guess the argument in your favor as well as the fact that even to this day, Bitcoin cash and bsv and probably even Bitcoin diamond, they still have a value, they can still be traded.
Unknown Speaker 30:53
Hey, look, Bitcoin cash is supported for sacrifice. And people only put in like 100k. And then one day, I look at the watch only wallet and it says 1.7 million. So now there’s already been $1.7 million of Bitcoin cash sacrificed. And, you know, we see this on all types of different chains. Now there’s two chains, I can’t even check because I don’t feel like fighting the wallet dat and injecting all the pub keys in order to watch it because they don’t support HD wallets. So it’s kind of a nightmare. Apparently, one of our devs has already kind of cracked that for Dogecoin and hasn’t cracked for LTC yet, because they’re still sinking the node. But because you have to run it in a format. You don’t have to but you really, really should. Maybe sure how much is donated on this. So yeah, like there’s real millions of dollars and all of these things, even the crappiest of them. Even the crappiest of things that you think’s the biggest scam in the world. There’s people that withdrawn input millions and millions of real dollars. It’s big, big industry. Now.
Unknown Speaker 31:54
Would you say that? Again? I know you’ve been asked this all the time. And you always say you can’t predict what the price is going to do. But would you say that from a design perspective, that pulse is designed to pump to the same sort of extent that hex was or is
Unknown Speaker 32:08
it? Kind of Yes. So yes, it is. It’s just different mechanic by how to do it. So my my original guess until the type of performance you could see from Pax was just based on what a theorem did a theorem did a 10,000x in two and a half years. And then I was like, Alright, well, if you build something with better game theory than that, it has superior, you know, price logic, then why shouldn’t be able to do the same thing. So that was our target, we want to outperform the 10,000x, two and a half years that a theorem did. And it’s working perfectly. We’ve already done three 3800 and something before staking with staking over 7000. It did exactly what it was designed to do. It’s working Perfect. Now that same type of logic applies to pulse. It’s a theorem but better everything less negative externalities, higher throughput, biggest air drop in the world. Big Cal better name came spell etherium trying to spell it. People stick an eyes in there, there’s no eyes. You know, it’s like, it’s just there’s so much good stuff going on there. It doesn’t destroy the environment. And so like, yeah, the same kind of ratios apply. But they scale differently. So it’s easier to explain to people what call says it’s harder, it’s my next that’s why the chat room is 30% bigger. So in less than 10 times less time. So I think I think I don’t know which one’s gonna overperform. But Paul scales kind of with users and adoption and you know, network stuff. And then hex, it just kind of scales differently. They’re just different. So they’re both amazing things. And I mean, when people try and ask me like, Hey, you know, which how much should I sacrifice? And then how much should I have an x? I don’t look, I don’t know, I’ll try and give you a guess my guess is pulled right out of my butt. So because you’re gonna have X on two chains. If you were to have 1/3. In hacks, you’d end up with like, you know, two thirds. And then if you had to add two thirds in hex, you’d have two thirds versus two thirds, check the math, but basically, it kind of ends up like 5050 I think with you know, two thirds sacrifice on 1/3 and hex, cuz you’re gonna have twice the stakes and you’re gonna have twice the liquid hex because you’re going to have it on two networks. So that’s what I pulled out in my but I have no idea if that’s the way it will work out like no, it’s not knowable. You just have to guess.
Unknown Speaker 34:34
Yeah, you mentioned that pulse will depend on on real adoption, right? Like, like any network smart contracts. Are you aware of any? That’s not really true, though, right, like look at a long term viability. Now,
Unknown Speaker 34:45
look at ADA. Ada doesn’t have smart contracts. It’s supposed to have had them for years and their price chart beat everybody else’s to price chart, beat a theorems. It beat bitcoins, their price chart overperformed and they don’t have the features that everyone wishes. So the reality Is that price performance is only loosely related to actual performance? Because if price performance and actual performance related, then, you know, Bitcoin cash would be worth more than Bitcoin. It’s got higher throughput, right? It was the same code, right? Why? Why is the Why is the one the chain that’s cheaper with higher throughput but worth less than the one that’s slower? Because it’s not actually the technical thing that matters. It’s all this other stuff that matters. And so, you know, to say that, just because you’ve got better technology doesn’t mean that your price is going to overperform. You need both, you don’t even need like, you’d actually don’t even need both, like, does Doge have better technology than Bitcoin? Because it’s outperformed it price wise? No, it doesn’t have better technology at all. It’s a very old fork of aetherium on very old code, or it’s a very old fork of Litecoin, which is very old fork of Bitcoin. They don’t even have their own mining or merged mind with Litecoin. And yet to have a higher value than Litecoin. So the game theory on defending the network is, is even upside down. So like.
Unknown Speaker 36:05
I’m just saying, if you want to be accurate about price performance, a lot of things that are not technically merit full do very well. Yeah, yeah.
Unknown Speaker 36:15
I mean, I can’t refute cardano and Doge. I mean, 10 years from now, would you say? It’s the love evaluation in the billions?
Unknown Speaker 36:22
Bro? How long is Doge had to die already? It keeps going up. So it’s it’s basically the only thing that and I try to tell people this, the only thing that matters is whether people are buying it or selling it. Are they buying holding? are they selling everything else as a story, everything else is a narrative meme. Bitcoin never became peer to peer digital cash, and it never became programmable money, and it went up 6.5 million x. So the narrative means to get people to buy and hold, they’re interchangeable, you can swap them out. The only thing that really matters is buying and holding. And that’s why x is going to beat everything, in my opinion, because it’s the only thing that matters, because it has a marketing hard hurdle to overcome to get people to understand it. Maybe Paulson can over perform. We’ll see. You know, okay,
Unknown Speaker 37:06
yeah, you got me there? Who said them? I guess they’re like, just curious to know, are you aware of any projects or developers who have expressed an interest in building anything on on pulse yet?
Unknown Speaker 37:19
I mean, there’s some guys that make it Well, I’m not sure I’m likely to say this publicly. There’s people that build a lot of stuff on BSE, like over and over and again, like things that perform really well. And they’re part of the reason apparently, that BSE got popular. They’re going to do something false. They say, I suppose I would call them today. And then there’s some, like dap guys build stuff. There’s XDK saying people are DK snark, people want to do stuff that I mean, I’m not seeing like, I’m seeing less than 10 projects so far have expressed interest because I think they’re willing to see the code, man. Yeah. And when they see the code, just like the Ethereum core devs. They liked it, they accept it, they made it core code. I think when everyone else sees this code, they’re gonna be very impressed. Because it’s a superior system to BSA. BSD is two chains, so it has twice the attack surface, we use one chain, it’s half the attack surface. You know, we burn coins, they don’t burn coins, they kind of have some guy that has an admin on somewhere that burns BMB. Occasionally, sometimes, but they’re stopping that soon. That in our system, it keeps running forever. Like we just, we did so many things, right? I think people are gonna be truly impressed.
Unknown Speaker 38:32
Is there anything you’d like to see built on post that maybe wasn’t an option with with the fees on aetherium
Unknown Speaker 38:38
I want to be able to short hex with spot settlement. When you get liquidated, you got to buy the real coin back, not this side bet crap or when you get liquidated, the exchange gets rich. That doesn’t, that doesn’t help the coins or the honest people that are holding that just helps decide that place. So I want to see real, the ability of people to short hacks will be absolutely beautiful. I’ve been waiting for that for a long time maybe finally pulls out, it’ll be done. You need I from my perspective of blockchain needs the following things. For the people that can’t take my advice, and learn not to short. Rather, they get liquidated in this than some other crap. So they’re going to have to learn the harsh, expensive lesson. Let them learn it here instead of somewhere else. I think you need anonymity and privacy, I believe it’s a human right. And so you need to have a tornado cash on there. And then you need automated market makers. So you need uniswap or similar if you have uniswap. If you have anonymity. And if you have led dum dums get liquidated to learn that you shouldn’t do that. And you have high throughput, low fees and censorship, resistance and redundancy. You’re good that’s it, that’s all you need. Actually, hold on. There’s one more thing see out on ramps so because we’re bridged, other networks, you can just use their car on ramps fine. But in the end, like if you’ve got network, you’ve got the financial killer app where people are getting tattoos and on ramping all their friends and locking up for 15 years if you got a 15 year stake, when are you going to start saying bad things about x? Never. You’re in? You’re in, you know, Roger Ver sold his Bitcoin back, started saying bad things about Bitcoin. Mike Hearn sold his Bitcoin bags started saying bad things about Bitcoin. If they still had big bags, I bet they’d say less bad stuff, even though it may not be the best thing about Bitcoin, right? But but people do, what they’re incentivized to do. And the fact that you’ve got hexagons locked up for 15 years. It’s, it’s an invincible power, you’re gonna see people naming their kids hex, like, it’s just that it’s that great. So if you got the best app, best network, she had onramps margin trading, and anonymity. You’re golden. Everyone else can go away. Nothing else matters. See everybody else by now we don’t need anything else that we’re good. So you think in my brain, the takeover everything, you think