[0:00] Every single one of the cryptocurrencies, they all compete with Ethereum for this one thing called decentralized immutable settlement, right? Mhm. And and and unlike Ethereum, Bitcoin has no competitor, right? Bitcoin only competes with gold. What Bitcoin solves Bitcoin solves the problem of currency debasement, right? So, if you work for 40 hours in a work week, you're and you say and you get paid for that, the government comes along and they they print 20% more money for Ukraine, uh

[0:29] Israel, COVID, then the price automatically go up. So, Bitcoin solves this huge problem cuz of currency debasement, right? And there's no competitors. The only thing Bitcoin solves with competes with is gold, right? It only competes with gold. And if you match Bitcoin and gold up side by side, Bitcoin wins. Now, Ethereum, every single cryptocurrency is trying to compete with this immutable settlement. Likewise, Chainlink also no competitors. Chainlink was I mean, it basically there's no one that solves the problem of previously unsolvable problems that Chainlink solves. Uh and provides data in a decentralized way, right? So, the data itself is decentralized, different from an API. It

[1:06] comes from a decentralized network rather than a single source oracle. So, in crypto, I'm always for looking for like what sort of previously unsolvable problems are being solved by these cryptos. And I do like ETH, but it has a lot of others.

[1:21] Yeah, I get that I get that I get that. Especially with their whole L2 thing they did. Now, they're like, "We don't need L2s." And it's like they kind of screwing over people who are kind of like

[1:28] Well, I don't I like L2s cuz they're cheaper and I hate paying gas fees for ETH. But uh the problem is that that takes the demand for ETH.

[1:35] Yeah, exactly. And and the price of anything is where supply and demand meet. Exactly. Uh and so, if supply if demand is down because they're going on other blockchains, price also go down.

[1:45] Exactly. I know I agree I agree. And I think debasement's a good word. I just talk about inflation in general. I don't really talk about debasement per se.

[1:51] Bitcoin does It's a common uh misunderstanding that Bitcoin solves the problem of inflation. We If you just simply look back at 2022 as they started raising when the Federal Reserve started raising interest rates, Bitcoin was plummeting as they were raising interest rates. So, it just using that example, using that example, yeah, Bitcoin didn't have it did not hedge inflation in that circumstance, right? But, what Bitcoin actually hedges is currency debased. Right? The history of governments, the history of debasing currencies, mixing more less and less valuable metal into the coins and printing more and more money and spending it as you get out of your afford the rest of the and

[2:31] it causing inflation. Yeah, cuz it's totally good. I live in downtown New York. I'm from right here. That's called Detroit. This is Michigan. You know what I'm saying, right? Or we we stay decentralized. We stay decentralized. You have a message for the builders? Build on Bitcoin. Build on Bitcoin. You like Nostr? Yeah, dude. I run a Nostr relay. I run a Nostr node. I Bitcoin node. I have an AI agent that can use all three of those tools. He runs on the same machine. Yeah, I love Nostr. Decentralized Twitter. Yeah. Yeah. Yeah, you probably the benefit of decentralization is that no one can change the rules to benefit themselves.

[3:11] Right? There's lots of competition that happens in the economy, but most of it can be actually be prescribed as rent-seeking middlemen. Yeah, absolutely. Not necessarily truly fair competition cuz it's not going to be conducted fair.

[3:26] Fair market. That's who I'm about to disintermediate. That's what I do is I disintermediate the the rent seekers in the economy and we're going to basically kick the rent seekers out of the cuz if you're not solving a problem, you're not really providing value. This is what cool is what this is what decentralization solves. Well, no. All right. And Dharma. Thank you.
