Hillary Joins Crypto Army?🔥Biden Crypto Meeting🔥 w/ @thejackiedutton
Summary
TLDRIn this episode of Tech Path, Paul Bar and co-host Jackie Dutton delve into the intersection of cryptocurrency and politics, discussing Hillary Clinton's surprising endorsement in the New York congressional race and its implications for crypto-friendly policies. They explore the influence of pro-crypto entities in political campaigns, the potential impact on elections, and the necessity for politicians to understand and embrace blockchain technology. The conversation also touches on the growth of on-chain brands, the power of NFTs in community building, and the network effect in the crypto space, offering insights into the evolving landscape of digital assets.
Takeaways
- 😀 Paul Bar and Jackie Dutton discuss the intersection of cryptocurrency and politics, highlighting the growing bipartisan interest in crypto.
- 🌐 The show is sponsored by Wilder World, an emerging gaming platform that recently had a significant promotional event at the Wheels Arcade in Austin.
- 🔊 Hillary Clinton's endorsement of George Latimer over Jamal Bowman in New York's 16th congressional district has sparked debate, especially considering Bowman's past votes against crypto-related legislation.
- 🗳️ There is speculation about whether politicians will vote based on their crypto holdings or their political stance, indicating a growing awareness of crypto issues among voters.
- 💡 The conversation emphasizes the importance of self-custody, inflation, and the economy in relation to crypto, suggesting these are key issues for the crypto community.
- 📊 Polls show George Latimer leading with 48% compared to Jamal Bowman's 31% in the New York 16th Democratic primary, with the undecided voters being a significant factor.
- 💰 The discussion points out the influx of money and special interest into politics from pro-crypto entities, which is a new development in political funding.
- 🤔 Jackie Dutton expresses skepticism about older politicians' ability to understand and adopt crypto technology, suggesting a potential digital divide.
- 🛍️ The script mentions the potential for blockchain technology to disrupt industries like pharmaceuticals and artistry by potentially lowering costs and improving transparency.
- 📈 The rapid growth of certain crypto networks, such as the Bas Network surpassing Binance Chain in active Dex users, is highlighted as a sign of the industry's potential.
- 🔑 The importance of creating a simple user experience for crypto adoption is underscored, with references to Bas and Coinbase as examples of user-friendly platforms.
Q & A
What is the main topic of discussion in the video script?
-The main topic of discussion is the intersection of cryptocurrency and politics, with a focus on how political stances and bipartisanship might affect the crypto industry and related projects.
Who is the sponsor mentioned in the script and what did they promote at the wheels Arcade in Austin?
-The sponsor mentioned is Wilder World, and they promoted their brand at the wheels Arcade in Austin during the consensus event.
What political figures are discussed in the script in relation to their stance on crypto?
-Hillary Clinton, George Latimer, and Jamal Bowman are discussed, with Clinton's endorsement of Latimer being a point of interest due to Bowman's known positions on crypto-related legislation.
What legislation did Jamal Bowman vote against that is relevant to the crypto community?
-Jamal Bowman voted against the FIT 21 and the CBC anti-surveillance State act, both of which are significant to the crypto community.
What is the significance of the comparison between the growth of Bas Network and Binance Chain in terms of active Dex users?
-The comparison highlights the rapid growth and adoption of the Bas Network, which has surpassed Binance Chain in active Dex users despite being much newer, indicating a strong network effect.
What is the role of NFTs and token holders in the business model discussed in the script?
-NFTs and token holders are presented as a driving force for businesses, acting as 'jet fuel' that can significantly accelerate the growth and success of a company or project.
How does the script suggest that crypto and blockchain technology could impact the pharmaceutical industry?
-The script suggests that blockchain technology, as proposed by Mark Cuban, could potentially lower the cost of prescription drugs by increasing transparency and reducing fees.
What is the potential impact of the round table meeting between policy makers and blockchain innovation leaders mentioned in the script?
-The round table meeting is suggested to be a significant event that could lead to a better understanding and potentially more favorable regulations for the blockchain and crypto industry.
What is the concern raised about TikTok's role in the creator economy and its potential banning?
-The concern is that TikTok's potential banning could crush the American dream for many content creators who rely on the platform for income, and it highlights the platform's growing fees which could negatively impact creators' earnings.
What is the concept of 'onchain brands' as discussed in the script?
-The concept of 'onchain brands' refers to the idea of brands building their communities and sales directly on the blockchain, leveraging NFTs and token sales to create a more engaged and loyal customer base.
What does the script suggest about the importance of user experience (UX/UI) in the adoption of crypto platforms?
-The script suggests that a simple and intuitive user experience, as exemplified by platforms like Coinbase, is crucial for the mass adoption of crypto and blockchain technologies.
Outlines
🗝️ Crypto and Politics: A Bipartisan Future?
In this segment, the host, Paul, introduces the theme of crypto's bipartisan nature in politics. He discusses the integration of crypto into various projects and acknowledges the sponsor, Wilder World, for their promotion at the Wheels Arcade in Austin. Paul then welcomes co-host Jackie Dutton and delves into the political implications of crypto, highlighting Hillary Clinton's endorsement of George Latimer over Jamal Bowman for a congressional seat in New York. The conversation emphasizes the importance of crypto stances in political candidates and the potential influence of crypto holdings on voters.
📊 Political Stances on Crypto: Impact on Elections
This paragraph focuses on the influence of political stances on crypto within the election landscape. It discusses the contrasting positions of Jamal Bowman and George Latimer on crypto-related legislation, such as the FIT 21 and the CBC anti-surveillance State act. The segment also explores the role of donations and special interests in crypto-related political races. Jackie emphasizes the unprecedented influx of money and interest in crypto, suggesting that it could lead to significant changes in the political landscape.
💡 Simplifying Crypto for Mainstream Adoption
The conversation shifts to the need for simplification in the crypto space to encourage mainstream adoption. A clip of Rana is played, where he stresses the importance of understanding and simplifying crypto for members of Congress. The discussion highlights the potential benefits of crypto in various sectors, such as reducing prescription drug costs, and the need for more policymakers to engage with the technology. The potential of a roundtable meeting in DC with Mark Cuban and other innovation leaders is also mentioned, indicating a significant step towards integrating blockchain technology into policy discussions.
🔄 Political Maneuvering and Crypto Support
This paragraph discusses the political maneuvering around crypto support, particularly focusing on the contrasting stances of former President Trump and President Biden. It mentions Trump's recent full support for the crypto industry and Biden's potential roundtable meeting with the crypto industry. The segment also explores the implications of political decisions on small businesses and creators, especially in the context of platforms like TikTok and the potential banning of such platforms, which could impact the 'American dream' for many content creators.
🛍️ The Creator Economy and Crypto Opportunities
The focus of this paragraph is on the creator economy and the opportunities presented by crypto. It discusses the potential for brands to leverage crypto and NFTs to build communities and sell products, changing the traditional model of brand building. The segment also touches on the importance of repurposing content across different platforms and the idea of taking brands on-chain to build trust and authenticity. The conversation highlights the rapid growth of projects like Pudgy Penguins and the potential for crypto to revolutionize audience behavior and brand engagement.
🌐 Network Effects and Crypto Growth
The final paragraph delves into the concept of network effects in the crypto space, discussing their significance and potential limitations. It contrasts the views of different figures in the crypto community, such as CZ and Charles Hoskinson, and their perspectives on network effects and the growth of various crypto networks. The segment also highlights the importance of user experience and simplicity in driving mass adoption of crypto technologies. The conversation concludes with a call to action for viewers to join the diamond Circle for exclusive content and participate in the airdrop summer program.
Mindmap
Keywords
💡Crypto
💡Wilder World
💡Self-custody
💡SAB 21
💡Inflation
💡Political Arena
💡NFTs
💡On-chain Brands
💡Network Effect
💡TikTok Shop
💡Metamask
Highlights
Crypto is becoming more bipartisan, impacting politics and various projects.
Wilder World is sponsored and promoted at the Wheels Arcade in Austin during consensus.
Hillary Clinton's endorsement of George Latimer over Jamal Bowman in New York's congressional seat stirs debate within the Democratic Party.
Jamal Bowman's stance on crypto is scrutinized, including his votes against pro-crypto legislation.
The importance of self-custody, inflation, and economy in crypto discussions is emphasized.
The role of donations and special interests in crypto-related political races is highlighted.
Rana's perspective on the need for simplification in crypto for wider adoption is presented.
Mark Cuban's potential involvement in a significant blockchain policy meeting is discussed.
The potential impact of the Biden Administration's roundtable on digital assets is considered.
The growth of on-chain brands and the shift in traditional brand-building models is explored.
The comparison between the growth of Bas Network and Binance Chain in terms of active Dex users is noted.
The debate over the importance of network effects in crypto with contrasting views from different crypto personalities.
The potential of NFTs and tokenization in luxury brands for authenticity and combating fakes.
The rapid growth and accomplishments of Pudgy Penguins as an example of the power of NFTs and community.
The idea of building a brand by launching an on-chain community and collaborating with NFT holders.
The importance of user experience and onboarding simplicity for mass adoption in crypto.
The potential of crypto to revolutionize marketing, technology, and media as traditional practices are challenged.
Transcripts
all right crypto getting to be a little
bit more bipartisan today we'll be
breaking down what that might look like
in a new world of crypto and politics
and how it plays into a lot of projects
you're going to love it my name is Paul
bar welcome back in a tech path before I
get started I want to thank our sponsor
today and that is Wilder world if you
guys are looking at one of those
emerging games go over and check them
out on a just go to Wilder world on a
you can find a little bit more about
what their doing they did a huge promo
over at the wheels Arcade in Austin
during consensus had a huge promotion
you kind of see what happened there at
the event uh really had a great time I
think this is one of those things where
we see those in real life events come to
reality around crypto so check it out
just go over and kind of follow it along
from X you can run over to the website
Etc if you decide to go that route all
right I want to get into the topic today
and this is more on the topic of
politics ICS but also at the same time
how it applies into crypto so I want to
bring our co-host in of course that's
Miss Jackie Dutton coming in today how
are you
Jackie I'm I'm good we're having a
little technical difficulty but I hope
everybody likes the new microphone oh
the mic is great your audio is excellent
let's lead off with the first story and
uh this is going to be a good one for
those of you in the political Arena and
that is Hillary Clinton stuns the
Democrats by endorsing George Latimer as
uh Jamal mullan's uh congressional seat
New York of course is the congressional
seat right here is the uh district 16
which is what we're talking about this
is Jamal Bowman statements on crypto you
can kind of see it right there fit 21 in
the Sab voted against voted against and
also CBC anti-s surveillance State act
voted against versus George lmer Who
currently does not have a position this
coming over from Stan with crypto from
coinbase are people going to vote their
crypto Holdings or are they going to
vote their political stance yeah I think
uh everybody in in my world at least and
on my feed is well aware that this is a
much bigger issue right this is about
freedom to self- custody this is about
inflation the economy and if you are so
adamantly against it that you know even
Sab 121 which had more to do with banks
than it even did you know the common man
this is probably not somebody who has
our financial best interested heart in
the world of crypto at least yeah for
sure I'm gonna play a clip for you just
so you guys can get framework around
Jamal Bowman but there's a lot of Jamal
Bowman out there people that are in this
position especially on the Democratic
side let me cut to that clip real quick
so Hillary Clinton sparked a big debate
within the Democratic Party by endorsing
more moderate New York primary candidate
George ladimer over the incumbent
Democrat Jamal Bowman Clinton tweeted
that with Trump on the ballot we need
strong principal Democrats in Congress
more than ever in Congress George
vladimer what's your reaction to that
no real reaction I definitely wouldn't
call out a major endorsement with all
due respect I mean we are endorsed by
sitting us Senator Elizabeth Warren I
love our endorsements and they are going
to help us win this race the poll found
that 51% of respondents have a favorable
view of Bowman in comparison 65% said
they have a favorable view of laimer
people around the country are
recognizing that hey Bowman could lose
and maybe that's a surge of energy into
the district I think Bowman has a lot of
supporters his problem is they don't
live in the district you know that that
doesn't work so what I understand that
doesn't work so well if you look at some
of the expenditures in terms of proing
up some of these candidates and it is an
important scenario this right here is
showing Fair Shake right there as the
number two candidate opposing Bowman of
almost and you can kind of see it let me
kind of zoom in on that right there
almost $2 million going into this
uh opposition with this being the case
Fair Shake one of the largest packs out
there really fighting for crypto I think
in general we've seen a ton of very Pro
crypto entities that are supporting Fair
shake this could start to spill over
into a lot of races how much of an
impact do you feel like this is going to
have right now on this year's election
Jackie oh it's huge I think this is an
influx of money and donations and
special interest that we haven't really
seen before in the past I don't think
it's really existed the framework hasn't
been there and there hasn't been the
organization that we really are now
seeing I I know that I see a lot of
people say well I hate that we have to
play this game like a big Pharma or a
tobacco or an alcohol but we do and it
it's just them's the breaks that that's
just kind of the way that it is within
this game but it's gonna actually get
things done in our favor this is where
the polls currently stand on uh the New
York 16 Democratic primary and you've
got it right there George ladimer at 48%
Jamal Bowman at 31% that's currently
there's a little bit of margin error
there but the undecided number is still
the one that is big to me now this of
course many of you guys will say justice
Democrats what are you guys talking
about this is
crazy of course many people will know
this the one name though that I will say
that has seemed to cross the line is
Rana and he seems to be in a position to
where he thinks that a pro business
stance both from a democratic and maybe
across the island the Republican side is
the answer for crypto and a lot of
what's happening in blockchain let me
play a clip for you and I want get your
opinion after this clip take a look one
of the things I've said to folks is even
if you're not invested I'm not invested
in in crypto but I've gone on coinbase
i' i' I've opened a wallet I've opened
uh metamask I I I know what that you
can't buy nfts on coinbase I know that
you need to go on uh the open seats
through metamask I know I know the basic
experience it takes literally 48 hours
to figure this stuff out and yet you
probably don't have more than four or
five members of Congress who've ever
done that uh and we need more people to
actually get the basics go get open a
wallet so it is way too complicated in
my in my experience and the more we can
simplify the more actually you can
reduce the fees so that people know that
you can transfer money where you need to
memorize your 12-word password but if we
can fix that so that you don't have to
memorize that 12w password but but all
of that just means that this is in a
nent stage of Technology if you go at if
you're negative on crypto and you don't
understand it uh it seems like you're
hurting their view of what uh modern
wealth generation could entail artists
if you care about artists songwriters
singers you should be for this
technology if you're going to lower
potentially the cost of uh prescription
drugs look Mark Cuban has this
interesting idea uh with he's where he's
going to use this technology to try to
bring prescription drug cost down we
haven't been able to do that in Congress
we campaign on it every year so that's
Rana uh talking about I mean he actually
said some pretty straightforward things
that I think any congressman and woman
would probably look at and say yeah I'm
going to go ahead and spend a little
time and try to figure this out you
think there's any chance for that really
happening Jackie what are what are your
thoughts on that I mean I think we're
talking about people some of them are in
an age Gap who would ask for help using
their television remotes still yeah so I
just don't believe that they're going to
figure out how to use metamask over the
weekend this here of course is Biden's
Administration talking about a potential
uh Round Table in DC and Cuban is looks
like he's going to be maybe the one that
is there and what they're stating here
is this could be the most significant
meeting between policy makers and
Innovation leaders in the blockchain uh
area to date Mark cubin is uh planning
to be there he's going to pitch on one
area Rana mentioned this about um
potentially lowering cost of
pharmaceuticals let me go to the clip on
that I want to just kind of get your
position on whether you think this is a
good angle take a look and I'd say part
two to what we came up with in launching
Cost Plus drugs was is transparency
because the the missing element in all
of healthcare right now is trust so when
you go to Cost Plus drugs and you Cost
Plus drugs.com and you put in the name
of the the drug that you're looking to
buy you'll see exactly what we pay for
you'll see that it's marked up 15% we'll
show you what the markup is you'll see
that there's a $3 handling fee for the
pharmacy and $5 shipping and that was
only 77 of the drugs that we sell
imagine if they used all 900 plus MH but
you haven't had any mainstream
applications where your mom says okay
we've got to get a wallet because I have
to do a b or c we're waiting for that
next round of applications and there's a
lot of people working on them you know
nfts for the the resale um of books so
we take nfts past the collectible
markets to the utility markets until
mobile phones came along from 1995 to
2007 with the
iPhone yeah right and then even remember
there the first apps on the App Store
were like here look let me hold my phone
like this it looks like I'm drinking a
beer right yeah it looks like I'm
drinking a beer just dumb there's
no reason why crypto is going to be any
different do you think that's the angle
that the administration will understand
I don't necessarily know if they're
really the Apple TOA comparison that he
really wants it to be at this point but
it's not price gouging and that's just
our only issue in crypto we have
numerous problems I want to play a clip
here by C Cody Carbone um and he goes
into a little bit about the importance
of this meeting take a look everyone is
now talking about what President Biden
is going to do because former president
Trump has come out fully supportive of
the industry a complete 180 from when he
was in office and so we are hearing more
and more rumors about how the Biden
campaign are reaching out to crypto the
crypto industry and it's culminating in
this round table that is going to be
hosted by Congressman roana we're
hearing Mark Cuban will be there I think
everyone is still trying to figure out
what this will look like we're hearing
this will be sometime in July and so
this email was leaked from Congressman
Kana saying hey we're going to do this
and now everyone is scrambling to figure
out okay what's this going to look like
and how do I get there and who's going
to be there from the administration the
title of the round table I believe was
you know how do we lead on digital
assets which I'm really optimistic about
over 50 million users in the United
States that's larger than all of New
York State combined they started to hear
about it from their constituents it
wasn't just the crypto Lobby which I am
a proud member of saying hey you need to
pay attention here no now it's you know
the mom and pop store in their District
that wants to take crypto I just wonder
if if Biden will just go the other way
just because Trump has GNA gone this way
what what do you think he'll he'll do
that's really what it seems like I mean
he's talking out of both sides of his
mouth right he's going to have this
round table but he just vetoed Sab 121
what's going to happen when the fit act
comes across his desk if you know you
can't Pander for votes and then slap Us
in the face when it comes to actually
being the one in charge of approving
regulation and not actually doing it
he's had the opportunity at this point
to show his support legislatively and he
has not well in I can't believe I'm
saying this in Biden's
defense what I will say is that Trump
did not come out and say um that he was
Pro crypto prior to that you know prior
to the Sab vote so I mean there's a lot
of Chess being played here because Trump
probably had a little bit of an idea
that Biden was probably going to stand
uh in stance of a veto and Trump used
that as a catalyst to say all right let
me show you the other side of the coin
and boom off you went which could be the
case because he is definitely winning
votes right now in the crypto community
and back to the point the point that
Cody Carbone made which is small
business because that's going to be a
huge stump you know topic for a lot of
these candidates I want to jump to a
clip here because this was something
that happened on Tik Tok that is huge in
terms of small businesses creators and
so on that eventually I think will start
to transition into uh to crypto follow
me on this one let me play this clip for
you canvas Beauty made tick tock history
hitting a million dollars in sales
during a single live
session
cry I'm
uh you just broke the new record you are
the first person to achieve 1 million
for one single
life um in 2023 that market was worth
about $647 billion in China wow in the
US 50 billion so drop in the bucket not
that much so what we're hearing from a
lot of these cpg companies is that they
would rather especially newer Brands up
start such as stormy company they're
going to Tik Tok cuz you can scale like
that uh uh payments and so forth how
does that get done and I assume that
that uh Tik Tok collects some toll of of
of revenues right so basically when you
have a Tik Tok shop all of your
transactions are actually done through
the Tik Tok shop in their platform
stormy do you worry they're G to ban Tik
Tok of course it's always like at the
top of mine and I would hate if they did
such a thing because it would crush a
lot of people's American dream I don't
know I'm looking at it in a point of you
is Tik Tok maybe uh a ticking Time Bomb
here when you look at the fees that are
playing into this the referral fee this
is their current US fees are getting
ready to go from 6% this was April 2024
in July here in a couple of weeks to 8%
when you look at that right now
obviously you as a content creator
you're out there in this sector how are
you playing this nothing feels more
egregious than when you create content
and you put it on YouTube for instance
and you
created the majority of the content and
they threw ads on it right and I'm not
trying to get anybody demonetized today
but I'm just saying it's I mean I'm sure
you see that the payout yeah the payout
is it's wild it's like wow you just were
the vessel in which I hosted my content
but you would have no content without
people posting it it's wild um so I I
think you know as long as crypto builds
simplified infrastructure
the way that we've talked about before
the way that Bas has come in and you
know coinbase wallet has really created
something simple Tik Tok is very simple
as you swipe it's very intuitive and I'm
sure the buying process is equally as
simple so I think just honing that in
and getting to a place where it almost
doesn't matter what currency you use you
just kind of load your wallet with it
and then you can in a gamified way spend
it how you want it yeah it's always
going to open up an opport for crypto
okay all right with that being said one
thing you have to be aware of though is
this Creator fund on Tik Tok which is is
kind of intriguing let me play this clip
because this this breaks it down a
little more take a look I'm currently
making around 2.5 cents per thousand
views and I used to make 5 cents per
view on Tik Tok what happened what
changed the pool of money is the same
size why am I making less per view
because there are more views on the
platform it's grown there are more users
Tik Tok is earning more money the pool
is the same size so there are more views
with the same number of dollars so you
make fewer dollars per view literally
when Tik Tok becomes more successful Tik
tokers become less
successful what if Tik Tok had the same
partnership with creators that YouTube
has Tik tokers would be making at
minimum 16 cents per thousand views that
is six times what they are making now
that person could be a full-time Creator
they could be thinking about expanding
about hiring about creating a business
we don't have a platform without you but
you don't have a platform without us
it's almost the same thing that you just
mentioned and whether you look at X or
you look at something like farcast or I
was just looking at their daily active
users here on Dune I mean look at the
growth that we've seen here on this is
farcaster by the way so for some of you
guys who have not aware of it it's kind
of a Twitter clone go search faras or
warp cast you can get it on the iOS or
the Android store check it out has a lot
of similarities but it's just beginning
it's just getting going obviously X has
a potential with this and then you look
at Social and I think about this right
here this is drip house if you're a
crypto native media you're directly
putting your assets in front of 100,000
Salon collectors per day within web 2
media that's tiny but within the crypto
so here's my question to you being it's
kind of like being a big fish in a small
Pond or a small fish in a big pond you
know which route do you take if you are
a Creator out there especially in the
Crypt space what would you do in that
kind of scenario you know I think
there's really awesome opportunities to
repurpose your content and change it a
little bit as you go from one platform
to the next so you know using the teaser
content that performs the best on one
platform to kind of you know start
sending people over to maybe the higher
quality content that they're really like
becoming rabid for and really looking
for uh I think that's probably the best
strategy one thing that has started to
really perk my interest is the idea of
taking brands on chain let me play a
clip for you because this is a good one
about maybe how Brands could go on chain
take a look so what does the new formula
look like build a brand launch and
onchain Community AKA nft sales AKA our
little own version of
iqo collaborate with the nftd holders
and then sell products completely
changing the model of how we know brands
are built so this is obviously seeing an
uptick of what we call onchain Brands
where nft communities no longer are
being confined to the fact that they're
just NFC communities but they're also
thinking about what can I do ahead of my
brand to take this more Main Street
would you pitch this to a new business
and say start this way yes and I think
the it builds that no like and Trust
kind of you know we're just really tired
I think of being just like sold
something like you know hi buy this like
it's very disconnected of like oh I
don't even know you um and and I think
that that no like and trust that you you
build a brand you also give something
like an algorithm the opportunity to
show it to you based on likes that you
have you know shown that you're
interested in in the first place I know
it's creepy but I really like when some
stuff comes on my feed that was
searching for and it's like oh my God
you have a chip in my brain well one of
the strategies that has worked very well
is of course the project pudgy Penguins
uh here's a clip here from Luca talking
about nfts and why they matter so much
take a look in reality we've only been
hitting a stride for call it 15 16
months if you look at our
accomplishments and you look at our
funding landscape you think to yourself
they have you know 40 50 billion views
across social they have over a million
toys sold they have these huge
Partnerships that are kind of unheard of
you know Partnerships that take years
and years to kind of Garner we are just
moving so much faster because I have
10,000 people pushing my my objective
with me nfts and just token holders in
general are either the ultimate jet fuel
to your company or the ultimate
deterrent you can win in a way that is
unparallel to anything we've seen prior
to crypto uh you could make the same
case for ethereum in that programming
language like you know the last time a
programming L language hit an Enterprise
value of $500 billion it's just like
it's it's it's it's it's relevant across
the board I think this is a complete
shift of thinking you know everything
I've learned in marketing technology and
media for the last 25 years I look at
what's happening today and I think this
is a revolution in how audiences behave
because Luca is right you know you put
it's it's you know there was an old book
out there by Seth Goden called tribes
and tribes are exactly what he's talking
about build a tribe of a thousand or
10,000 and that tribe can become such a
great opportunity but there's not very
many companies that ever did that so now
we're starting to actually see it
because of the potential for nfts being
you kind of the mechanism uh so so so
far do you think this is still a fad or
do you think this is really a shift in
business I think it's valuable for them
to look into it and to implement it
especially with like the highend the
luxury Brands it's so hard sometimes to
spot something that's fake you know a
designer purse that costs
$25,000 how do you really really know
that you got what you wanted um and got
what you paid for so having that
authenticity of something on the
blockchain I do think really starts to
validate that the key here is going to
be scale and one of the areas that I'm
watching very closely is of course how
well these networks are growing here's
an example Bas Network now surpasses
binance chain in terms of active Dex
users this is crazy Bas is to not even
is it a year old yet I'm I'm trying to
remember it's like it did one onch sum
about a year old about a year old and
it's it's basically going past binance
which has been in it for eight nine
years now that is insane growth what do
you think about the network effect what
what what's your opinion on that well I
think it helped that you know coinbase
was not demonized by us corporations so
that probably was really helpful a
little bit um and you know it's all
still that uxui experience it's so much
easier to use coinbase than it is to get
on a pancake Swap and buy in it'll take
you you know I I've heard computer
Engineers say it took them two days to
figure out how to buy a BSC token oh
that well that well that goes back to
the whole thing around the onboarding
comparison that back in the beginning of
the episode on rokana is just making it
just super simple if we're ever going to
see Mass scale and the network effect
it's going to happen that way clearly
Bas has kind of proven that however
there is one guy out there that we all
love that says maybe the network effect
doesn't matter who do you think that guy
would be the network effect doesn't
matter for CP what I mean CZ is he going
to stump for binance he's in jail right
now though he can't talk
that's a good one I love that one all
right well I've got it for you let's go
ahead and play the clip for Jackie and
you know so Network effects don't mean
anything in technology uh in economic
political and social systems means
absolutely nothing so Network effects
change all the time and the people that
you'd expect to win whether they be
ethereum or Bitcoin you know here today
gone tomorrow you know salana was dead
now you know huge amount of growth okay
could be dead in 12 months could grow
another 5x 10x those are flashing the
pan unless you have the right
fundamentals though ethereum suffered
from this they got stuck in a Meer and
now they have all these competitors so
they could get mys spaced very quickly
why cardono well that's what it is
that's what we seek to do I'm I'm I'm
here's what's amazing to me is that
Aaron and
Austin were had kept a straight face on
that because I don't think I would have
been able to I was Charles what are you
talking about what are you talking
Network effects do not matter I love
that one that should be on a t-shirt or
you know Network do not matter cardano
Community this
man like bless his heart really I I saw
he's surprised today that a shitcoin
named after like his dog is doing really
well like that just blew his mind and I
I think unfortunately you have two
schools in crypto you have the dog whiff
hat shitcoin zero utility don't care
send it to billions and then you have
the coded in hasell Charles hoskinson
Ada Maxis and these two do not
communicate and they don't understand
each other there's a much smaller pool
of the Charles's than there are of the
whiffs yeah yeah definitely a different
world uh in different orbits which is
fine all those orbits can coexist in
this uh thing we call crypto Jackie it's
always fun having you on the show I love
you get your your opinion on these
things so thanks again for stopping in
today we appreciate it my pleasure all
right all right you guys if you're not
in the diamond Circle guess what we've
got some big things happening over there
in terms of building our own community
on the pbn channel and all you have to
do is jump over to the link down below
join we do a couple more videos over
there that don't make it here on YouTube
we do some additional content over there
that comes out in email that's how you
can jump in and if you're really cool
you can jump in to our airdrop and
that's an airdrop summer program that
we're doing also through that so check
it out down there on the link you'll
find it
and uh follow me on X it's just at Paul
Baron we'll catch you next time right
here on Tech bath
[Music]
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