WEBVTT

1
00:00:18.045 --> 00:00:18.875
<00:00:18.045>Thank <00:00:18.294>you <00:00:18.543>very <00:00:18.792>much.

2
00:00:19.255 --> 00:00:21.795
<00:00:19.255>Hi <00:00:19.455>to <00:00:19.654>everybody. <00:00:19.855>My <00:00:20.055>name <00:00:20.255>is <00:00:20.455>Jimmy <00:00:20.654>Wynn

3
00:00:21.975 --> 00:00:24.715
<00:00:21.975>and <00:00:22.208>I <00:00:22.441>am <00:00:22.675>president <00:00:22.908>of <00:00:23.141>Bitcoin <00:00:23.375>Association.

4
00:00:24.785 --> 00:00:27.835
<00:00:24.785>With <00:00:24.940>me <00:00:25.096>is <00:00:25.251>Steve <00:00:25.407>Shatters, <00:00:25.562>who <00:00:25.718>is <00:00:25.873>the <00:00:26.029>technical <00:00:26.185>director

5
00:00:27.835 --> 00:00:31.675
<00:00:27.835>of <00:00:27.975>the <00:00:28.115>Bitcoin <00:00:28.255>SV <00:00:28.395>Node <00:00:28.535>Project, <00:00:28.675>which <00:00:28.815>we'll <00:00:28.955>explain, <00:00:29.095>as <00:00:29.235>well

6
00:00:31.675 --> 00:00:35.875
<00:00:31.675>as <00:00:31.830>CTO <00:00:31.986>of <00:00:32.141>N <00:00:32.297>chain, <00:00:32.452>the <00:00:32.608>global <00:00:32.763>leading <00:00:32.919>research <00:00:33.075>development

7
00:00:35.875 --> 00:00:38.275
<00:00:35.875>and <00:00:36.155>advisory <00:00:36.435>firm <00:00:36.715>in <00:00:36.995>blockchain <00:00:37.275>technologies.

8
00:00:38.765 --> 00:00:41.755
<00:00:38.765>We're <00:00:38.920>here <00:00:39.076>today <00:00:39.231>to <00:00:39.387>talk <00:00:39.542>to <00:00:39.698>you <00:00:39.853>about <00:00:40.009>Bitcoin <00:00:40.165>SV

9
00:00:42.215 --> 00:00:45.275
<00:00:42.215>and <00:00:42.415>why <00:00:42.615>it <00:00:42.815>is <00:00:43.015>the <00:00:43.215>massively <00:00:43.415>scaled <00:00:43.615>blockchain

10
00:00:45.375 --> 00:00:46.755
<00:00:45.375>to <00:00:45.789>meet <00:00:46.203>developer <00:00:46.617>needs.

11
00:00:47.535 --> 00:00:48.995
<00:00:47.535>The <00:00:47.797>answer <00:00:48.060>to <00:00:48.323>the <00:00:48.586>question <00:00:48.849>of

12
00:00:48.995 --> 00:00:50.835
<00:00:48.995>what <00:00:49.275>developers <00:00:49.555>need <00:00:49.834>is <00:00:50.114>pretty <00:00:50.394>simple,

13
00:00:51.335 --> 00:00:54.195
<00:00:51.335>but <00:00:51.615>it's <00:00:51.895>very <00:00:52.175>profound <00:00:52.455>big <00:00:52.735>power.

14
00:00:54.695 --> 00:00:57.075
<00:00:54.695>If <00:00:54.850>there <00:00:55.006>are <00:00:55.161>two <00:00:55.317>things <00:00:55.472>for <00:00:55.628>you <00:00:55.783>to <00:00:55.939>remember <00:00:56.095>today,

15
00:00:57.575 --> 00:00:59.075
<00:00:57.575>it <00:00:57.912>is <00:00:58.250>big <00:00:58.587>and <00:00:58.925>power.

16
00:00:59.165 --> 00:01:02.835
<00:00:59.165>Those <00:00:59.320>two <00:00:59.476>things <00:00:59.631>in <00:00:59.787>combination <00:00:59.942>are <00:01:00.098>what <00:01:00.253>make <00:01:00.409>Bitcoin <00:01:00.565>sv,

17
00:01:03.145 --> 00:01:06.075
<00:01:03.145>what <00:01:03.345>developers, <00:01:03.545>as <00:01:03.745>well <00:01:03.945>as <00:01:04.144>big <00:01:04.345>enterprises <00:01:04.545>need.

18
00:01:06.655 --> 00:01:08.715
<00:01:06.655>You <00:01:06.810>don't <00:01:06.966>have <00:01:07.121>to <00:01:07.277>just <00:01:07.432>take <00:01:07.588>my <00:01:07.743>word <00:01:07.899>for <00:01:08.055>it.

19
00:01:08.865 --> 00:01:11.035
<00:01:08.865>Coronavirus <00:01:09.331>is <00:01:09.798>an <00:01:10.265>eSports

20
00:01:11.175 --> 00:01:13.595
<00:01:11.175>and <00:01:11.408>gaming <00:01:11.641>company <00:01:11.875>in <00:01:12.108>the <00:01:12.341>United <00:01:12.575>States,

21
00:01:13.685 --> 00:01:15.715
<00:01:13.685>which <00:01:14.035>has <00:01:14.385>a <00:01:14.735>monetization <00:01:15.085>platform,

22
00:01:16.045 --> 00:01:18.075
<00:01:16.045>which <00:01:16.511>uses <00:01:16.978>blockchain <00:01:17.445>technology

23
00:01:18.295 --> 00:01:21.715
<00:01:18.295>to <00:01:18.575>create <00:01:18.855>more <00:01:19.135>transparent, <00:01:19.415>fairer <00:01:19.695>gaming.

24
00:01:22.215 --> 00:01:23.715
<00:01:22.215>In <00:01:22.665>the <00:01:23.115>eSports <00:01:23.565>world.

25
00:01:24.175 --> 00:01:26.755
<00:01:24.175>It <00:01:24.375>has <00:01:24.575>a <00:01:24.774>game <00:01:24.975>that's <00:01:25.175>coming <00:01:25.375>into, <00:01:25.575>uh,

26
00:01:26.785 --> 00:01:30.075
<00:01:26.785>open <00:01:26.940>beta <00:01:27.096>soon <00:01:27.251>called <00:01:27.407>Crypto <00:01:27.562>Fights, <00:01:27.718>which <00:01:27.873>is <00:01:28.029>like <00:01:28.185>Dungeons

27
00:01:30.075 --> 00:01:33.715
<00:01:30.075>and <00:01:30.250>Dragons, <00:01:30.425>and <00:01:30.600>it <00:01:30.775>allows <00:01:30.950>players <00:01:31.125>to <00:01:31.300>create <00:01:31.475>avatars

28
00:01:33.815 --> 00:01:35.115
<00:01:33.815>to <00:01:34.107>compete <00:01:34.400>against <00:01:34.692>each <00:01:34.985>other.

29
00:01:36.015 --> 00:01:37.635
<00:01:36.015>It <00:01:36.715>recently <00:01:37.415>announced

30
00:01:37.635 --> 00:01:41.115
<00:01:37.634>through <00:01:37.774>a <00:01:37.914>blog <00:01:38.054>post <00:01:38.195>about <00:01:38.335>why <00:01:38.475>it <00:01:38.615>was <00:01:38.755>leaving <00:01:38.895>the <00:01:39.035>Ethereum

31
00:01:41.125 --> 00:01:46.035
<00:01:41.125>based <00:01:41.265>engine <00:01:41.405>token <00:01:41.545>system <00:01:41.685>to <00:01:41.825>use <00:01:41.965>Bitcoin <00:01:42.105>SV <00:01:42.245>as <00:01:42.385>a <00:01:42.525>blockchain

32
00:01:46.135 --> 00:01:49.635
<00:01:46.134>for <00:01:46.290>storing <00:01:46.446>in-game <00:01:46.601>items <00:01:46.757>as <00:01:46.912>well <00:01:47.068>as <00:01:47.223>many <00:01:47.379>other <00:01:47.535>uses,

33
00:01:50.295 --> 00:01:52.435
<00:01:50.295>and <00:01:50.645>its <00:01:50.995>CEO <00:01:51.345>and <00:01:51.695>Fender.

34
00:01:52.585 --> 00:01:55.155
<00:01:52.585>Adam <00:01:52.818>Kling <00:01:53.051>wrote <00:01:53.285>in <00:01:53.518>this <00:01:53.751>blog <00:01:53.985>post

35
00:01:55.785 --> 00:01:57.395
<00:01:55.785>what <00:01:56.018>we'll <00:01:56.251>talk <00:01:56.485>a <00:01:56.718>lot <00:01:56.951>about <00:01:57.185>today.

36
00:01:57.735 --> 00:01:59.235
<00:01:57.735>He <00:01:58.005>wrote, <00:01:58.275>we <00:01:58.545>decided <00:01:58.815>to <00:01:59.085>leave

37
00:01:59.385 --> 00:02:01.395
<00:01:59.384>because <00:01:59.734>of <00:02:00.085>problems <00:02:00.434>with <00:02:00.785>Ethereum,

38
00:02:02.175 --> 00:02:06.915
<00:02:02.175>and <00:02:02.315>what <00:02:02.455>he <00:02:02.595>explained <00:02:02.735>is <00:02:02.875>here <00:02:03.015>to <00:02:03.155>get <00:02:03.295>the <00:02:03.435>presentation <00:02:03.575>back.

39
00:02:07.065 --> 00:02:09.355
<00:02:07.065>What <00:02:07.298>happened <00:02:07.531>here, <00:02:07.765>um, <00:02:07.998>is <00:02:08.231>that <00:02:08.465>he,

40
00:02:12.985 --> 00:02:17.035
<00:02:12.985>that <00:02:13.140>he <00:02:13.296>and <00:02:13.451>his <00:02:13.607>company <00:02:13.762>were <00:02:13.918>making <00:02:14.073>the <00:02:14.229>best <00:02:14.385>choice

41
00:02:17.095 --> 00:02:18.195
<00:02:17.095>for <00:02:17.590>their <00:02:18.084>business

42
00:02:18.775 --> 00:02:22.035
<00:02:18.775>and <00:02:18.930>the <00:02:19.086>decision <00:02:19.241>to <00:02:19.397>transition <00:02:19.552>to <00:02:19.708>BSV <00:02:19.863>was <00:02:20.019>the <00:02:20.175>result

43
00:02:22.035 --> 00:02:24.275
<00:02:22.035>of <00:02:22.268>their <00:02:22.501>own <00:02:22.734>research <00:02:22.968>and <00:02:23.201>development <00:02:23.435>efforts.

44
00:02:24.545 --> 00:02:27.075
<00:02:24.545>They <00:02:24.778>discovered <00:02:25.011>that <00:02:25.245>Ethereum <00:02:25.478>is <00:02:25.711>at <00:02:25.945>capacity,

45
00:02:27.945 --> 00:02:29.395
<00:02:27.945>slow <00:02:28.597>cannot <00:02:29.250>scale.

46
00:02:29.535 --> 00:02:32.915
<00:02:29.535>It <00:02:29.674>is <00:02:29.815>expensive, <00:02:29.954>that <00:02:30.095>proof <00:02:30.234>of <00:02:30.375>work <00:02:30.515>is <00:02:30.655>the <00:02:30.795>only <00:02:30.935>proven

47
00:02:33.435 --> 00:02:34.435
<00:02:33.435>consensus <00:02:34.335>mechanism

48
00:02:34.855 --> 00:02:37.275
<00:02:34.855>and <00:02:35.054>they <00:02:35.255>lack <00:02:35.454>confidence <00:02:35.655>that <00:02:35.855>proof <00:02:36.054>of <00:02:36.255>stake

49
00:02:37.415 --> 00:02:39.755
<00:02:37.415>or <00:02:37.648>delegated <00:02:37.881>proof <00:02:38.114>of <00:02:38.348>stake <00:02:38.581>will <00:02:38.815>work.

50
00:02:40.175 --> 00:02:44.035
<00:02:40.175>And <00:02:40.375>Ethereum <00:02:40.575>twos <00:02:40.775>o <00:02:40.975>scaling <00:02:41.175>approaches <00:02:41.375>are <00:02:41.575>still

51
00:02:44.035 --> 00:02:48.515
<00:02:44.035>experimental, <00:02:44.234>or <00:02:44.435>whereas <00:02:44.635>Bitcoin <00:02:44.835>SV <00:02:45.035>has <00:02:45.234>already <00:02:45.435>demonstrated

52
00:02:48.575 --> 00:02:49.715
<00:02:48.575>the <00:02:49.088>scaling <00:02:49.601>ability.

53
00:02:50.705 --> 00:02:53.555
<00:02:50.704>They <00:02:50.938>also <00:02:51.171>summarize <00:02:51.404>the <00:02:51.638>benefits <00:02:51.871>of <00:02:52.105>transitioning

54
00:02:53.895 --> 00:02:57.155
<00:02:53.895>to <00:02:54.095>Bitcoin <00:02:54.295>sv, <00:02:54.495>that <00:02:54.695>it <00:02:54.895>can <00:02:55.095>allow <00:02:55.295>them

55
00:02:57.155 --> 00:03:01.085
<00:02:57.155>to <00:02:57.310>create <00:02:57.466>a <00:02:57.621>better <00:02:57.777>item <00:02:57.932>protocol <00:02:58.088>with <00:02:58.243>BSV, <00:02:58.399>it's <00:02:58.555>faster

56
00:03:01.305 --> 00:03:04.805
<00:03:01.305>and <00:03:01.480>cheaper <00:03:01.655>to <00:03:01.830>conduct <00:03:02.005>trades <00:03:02.180>due <00:03:02.355>to <00:03:02.530>the <00:03:02.705>efficiency

57
00:03:04.805 --> 00:03:06.085
<00:03:04.805>of <00:03:05.189>the <00:03:05.573>BSV <00:03:05.957>Blockchain.

58
00:03:06.405 --> 00:03:08.725
<00:03:06.405>BSV <00:03:06.685>is <00:03:06.965>capable <00:03:07.245>of <00:03:07.525>handling <00:03:07.805>millions

59
00:03:08.945 --> 00:03:11.245
<00:03:08.945>of <00:03:09.295>transactions <00:03:09.644>without <00:03:09.995>slowing <00:03:10.345>down,

60
00:03:11.495 --> 00:03:13.445
<00:03:11.495>which <00:03:11.775>is <00:03:12.055>critical <00:03:12.335>to <00:03:12.615>development <00:03:12.895>work.

61
00:03:14.065 --> 00:03:16.125
<00:03:14.065>And <00:03:14.298>Coronavirus <00:03:14.531>users <00:03:14.765>will <00:03:14.998>also <00:03:15.231>be <00:03:15.465>able

62
00:03:16.125 --> 00:03:20.445
<00:03:16.125>to <00:03:16.280>use <00:03:16.436>more <00:03:16.591>available <00:03:16.747>features <00:03:16.902>that <00:03:17.058>engine <00:03:17.213>is <00:03:17.369>not <00:03:17.525>capable

63
00:03:20.705 --> 00:03:23.605
<00:03:20.704>of, <00:03:20.938>such <00:03:21.171>as <00:03:21.404>storing <00:03:21.638>the <00:03:21.871>3D <00:03:22.105>model

64
00:03:23.785 --> 00:03:26.605
<00:03:23.785>of <00:03:23.984>a <00:03:24.185>virtual <00:03:24.385>in-game <00:03:24.585>item <00:03:24.785>on <00:03:24.984>the <00:03:25.185>blockchain,

65
00:03:26.935 --> 00:03:30.245
<00:03:26.935>which <00:03:27.110>is <00:03:27.285>something <00:03:27.460>that <00:03:27.635>the <00:03:27.810>Ethereum <00:03:27.985>based <00:03:28.160>token <00:03:28.335>system

66
00:03:30.255 --> 00:03:31.325
<00:03:30.255>could <00:03:30.736>not <00:03:31.218>provide.

67
00:03:32.065 --> 00:03:35.245
<00:03:32.065>So <00:03:32.298>that <00:03:32.531>is <00:03:32.765>a <00:03:32.998>great <00:03:33.231>summary <00:03:33.465>of

68
00:03:35.245 --> 00:03:37.285
<00:03:35.245>what <00:03:35.525>Bitcoin <00:03:35.805>was <00:03:36.085>born <00:03:36.365>to <00:03:36.645>be.

69
00:03:37.995 --> 00:03:42.645
<00:03:37.995>Bitcoin <00:03:38.195>people <00:03:38.395>think <00:03:38.595>is <00:03:38.795>merely <00:03:38.995>a <00:03:39.195>payment <00:03:39.395>system,

70
00:03:43.045 --> 00:03:44.925
<00:03:43.045>a <00:03:43.325>way <00:03:43.605>to <00:03:43.885>transfer <00:03:44.165>monetary <00:03:44.445>value,

71
00:03:45.505 --> 00:03:47.925
<00:03:45.505>but <00:03:45.704>in <00:03:45.905>the <00:03:46.105>name <00:03:46.305>itself, <00:03:46.505>we <00:03:46.704>really <00:03:46.905>understand

72
00:03:47.925 --> 00:03:49.325
<00:03:47.925>what <00:03:48.177>Bitcoin <00:03:48.429>was <00:03:48.681>supposed <00:03:48.933>to <00:03:49.185>be.

73
00:03:49.485 --> 00:03:51.445
<00:03:49.485>A <00:03:49.835>combination <00:03:50.185>of <00:03:50.535>data <00:03:50.885>bit

74
00:03:51.825 --> 00:03:55.285
<00:03:51.825>and <00:03:52.000>coin <00:03:52.174>monetary <00:03:52.350>value, <00:03:52.524>the <00:03:52.700>fusion <00:03:52.875>of <00:03:53.049>both <00:03:53.225>data

75
00:03:55.385 --> 00:03:58.725
<00:03:55.385>and <00:03:55.584>money <00:03:55.785>in <00:03:55.984>a <00:03:56.185>ledger <00:03:56.385>system, <00:03:56.584>a <00:03:56.785>blockchain.

76
00:03:59.825 --> 00:04:02.405
<00:03:59.825>So <00:04:00.024>that <00:04:00.225>is <00:04:00.424>why <00:04:00.625>we <00:04:00.825>thought <00:04:01.024>a <00:04:01.225>battle

77
00:04:02.545 --> 00:04:04.965
<00:04:02.545>to <00:04:02.778>preserve <00:04:03.011>the <00:04:03.244>original <00:04:03.478>protocol <00:04:03.711>of <00:04:03.945>Bitcoin.

78
00:04:05.075 --> 00:04:08.205
<00:04:05.075>Bitcoin <00:04:05.230>has <00:04:05.386>not <00:04:05.541>been <00:04:05.697>allowed <00:04:05.852>over <00:04:06.008>the <00:04:06.163>years <00:04:06.319>to <00:04:06.475>be

79
00:04:08.355 --> 00:04:09.485
<00:04:08.355>what <00:04:08.558>it <00:04:08.761>was <00:04:08.965>born <00:04:09.168>to <00:04:09.372>be.

80
00:04:09.905 --> 00:04:12.165
<00:04:09.905>Uh, <00:04:10.080>it <00:04:10.255>has <00:04:10.430>been <00:04:10.605>limited <00:04:10.780>in <00:04:10.955>its <00:04:11.130>scaling <00:04:11.305>capability.

81
00:04:12.165 --> 00:04:16.485
<00:04:12.165>So <00:04:12.340>people <00:04:12.515>do <00:04:12.690>not <00:04:12.864>realize <00:04:13.040>Bitcoin <00:04:13.215>blockchain <00:04:13.390>can <00:04:13.565>power

82
00:04:16.785 --> 00:04:18.765
<00:04:16.785>tokens <00:04:17.065>and <00:04:17.345>smart <00:04:17.625>contracts <00:04:17.905>in <00:04:18.185>many

83
00:04:18.765 --> 00:04:20.045
<00:04:18.765>of <00:04:19.149>their <00:04:19.533>advanced <00:04:19.917>applications.

84
00:04:20.625 --> 00:04:24.085
<00:04:20.625>So <00:04:20.800>the <00:04:20.975>SV <00:04:21.149>and <00:04:21.325>BITCOIN <00:04:21.500>stands <00:04:21.675>for <00:04:21.850>Satoshi <00:04:22.024>Vision

85
00:04:24.395 --> 00:04:28.005
<00:04:24.395>because <00:04:24.550>Bitcoin <00:04:24.706>SV <00:04:24.861>is <00:04:25.017>one <00:04:25.172>of <00:04:25.328>the <00:04:25.483>competing <00:04:25.639>chains <00:04:25.794>Bitcoin,

86
00:04:28.385 --> 00:04:31.205
<00:04:28.385>but <00:04:28.540>the <00:04:28.696>only <00:04:28.851>one <00:04:29.007>which <00:04:29.162>adheres <00:04:29.318>to <00:04:29.473>the <00:04:29.629>original <00:04:29.784>design

87
00:04:32.245 --> 00:04:33.885
<00:04:32.245>protocol <00:04:32.525>and <00:04:32.805>vision <00:04:33.085>of <00:04:33.365>the <00:04:33.645>creator.

88
00:04:34.035 --> 00:04:35.205
<00:04:34.034>Satoshi <00:04:35.087>Nakamoto

89
00:04:35.545 --> 00:04:38.725
<00:04:35.545>to <00:04:35.745>be <00:04:35.945>both <00:04:36.145>a <00:04:36.345>peer-to-peer <00:04:36.545>electronic <00:04:36.745>cash <00:04:36.945>system

90
00:04:39.055 --> 00:04:41.605
<00:04:39.055>where <00:04:39.255>you <00:04:39.455>can <00:04:39.655>send <00:04:39.855>monetary <00:04:40.055>value <00:04:40.255>as <00:04:40.455>well

91
00:04:41.665 --> 00:04:45.205
<00:04:41.665>as <00:04:41.865>the <00:04:42.065>global <00:04:42.265>enterprise <00:04:42.465>blockchain <00:04:42.665>for <00:04:42.865>the <00:04:43.065>world.

92
00:04:45.585 --> 00:04:47.845
<00:04:45.585>And <00:04:45.724>today <00:04:45.864>Steve <00:04:46.005>and <00:04:46.145>I <00:04:46.284>are <00:04:46.424>gonna <00:04:46.565>explain <00:04:46.705>to <00:04:46.844>you <00:04:46.984>why

93
00:04:47.845 --> 00:04:49.525
<00:04:47.845>that's <00:04:48.311>important <00:04:48.778>for <00:04:49.245>developers

94
00:04:49.625 --> 00:04:53.125
<00:04:49.625>and <00:04:49.765>why <00:04:49.905>that <00:04:50.045>means <00:04:50.185>it <00:04:50.325>is <00:04:50.465>the <00:04:50.605>best <00:04:50.745>blockchain <00:04:50.885>for <00:04:51.025>developers

95
00:04:53.125 --> 00:04:55.485
<00:04:53.125>to <00:04:53.475>learn <00:04:53.825>build <00:04:54.175>upon <00:04:54.525>Bitcoin.

96
00:04:55.725 --> 00:05:00.245
<00:04:55.725>SV <00:04:55.852>has <00:04:55.979>four <00:04:56.106>key <00:04:56.234>pillars <00:04:56.361>in <00:04:56.488>our <00:04:56.615>design, <00:04:56.743>which <00:04:56.870>Steve <00:04:56.997>has <00:04:57.125>led

97
00:05:00.245 --> 00:05:02.525
<00:05:00.245>with <00:05:00.525>another <00:05:00.805>developer <00:05:01.085>named <00:05:01.365>Daniel <00:05:01.645>Connolly,

98
00:05:02.545 --> 00:05:05.765
<00:05:02.545>who <00:05:02.745>is <00:05:02.945>in <00:05:03.145>Aus <00:05:03.345>Austria, <00:05:03.545>a <00:05:03.745>stable <00:05:03.945>protocol,

99
00:05:06.485 --> 00:05:10.725
<00:05:06.485>a <00:05:06.660>scalable <00:05:06.835>blockchain <00:05:07.010>at <00:05:07.185>massive <00:05:07.360>scale <00:05:07.535>security, <00:05:07.710>as <00:05:07.885>well

100
00:05:10.725 --> 00:05:12.205
<00:05:10.725>as <00:05:11.169>safe <00:05:11.613>instant <00:05:12.057>transactions.

101
00:05:12.655 --> 00:05:15.325
<00:05:12.655>Today <00:05:12.782>I <00:05:12.909>want <00:05:13.036>to <00:05:13.164>focus <00:05:13.291>on <00:05:13.418>the <00:05:13.545>first <00:05:13.673>two <00:05:13.800>of <00:05:13.927>those <00:05:14.054>pillars

102
00:05:15.345 --> 00:05:19.285
<00:05:15.345>and <00:05:15.472>explain <00:05:15.599>to <00:05:15.726>you <00:05:15.854>why <00:05:15.981>that <00:05:16.108>makes <00:05:16.235>such <00:05:16.363>a <00:05:16.490>big <00:05:16.617>power <00:05:16.745>advantage

103
00:05:19.705 --> 00:05:20.725
<00:05:19.705>for <00:05:20.623>developers.

104
00:05:21.695 --> 00:05:24.125
<00:05:21.695>Let's <00:05:21.928>talk <00:05:22.161>first <00:05:22.395>about <00:05:22.628>a <00:05:22.861>stable <00:05:23.094>protocol.

105
00:05:24.305 --> 00:05:25.925
<00:05:24.305>And <00:05:24.585>it's <00:05:24.865>not <00:05:25.145>just <00:05:25.425>any <00:05:25.705>protocol,

106
00:05:26.265 --> 00:05:28.645
<00:05:26.265>but <00:05:26.544>one <00:05:26.825>with <00:05:27.104>Bitcoin's <00:05:27.385>original <00:05:27.664>design.

107
00:05:29.545 --> 00:05:31.885
<00:05:29.545>In <00:05:29.778>February <00:05:30.011>of <00:05:30.245>this <00:05:30.478>year, <00:05:30.711>the <00:05:30.945>team

108
00:05:31.885 --> 00:05:35.685
<00:05:31.885>behind <00:05:32.085>Bitcoin <00:05:32.284>SV <00:05:32.485>led <00:05:32.685>a <00:05:32.885>the <00:05:33.085>latest <00:05:33.284>upgrade

109
00:05:35.785 --> 00:05:39.685
<00:05:35.784>and <00:05:35.940>hard <00:05:36.096>fork <00:05:36.251>of <00:05:36.407>the <00:05:36.562>protocol, <00:05:36.718>which <00:05:36.873>was <00:05:37.029>called <00:05:37.184>Genesis

110
00:05:39.795 --> 00:05:42.085
<00:05:39.795>because <00:05:39.995>it <00:05:40.195>was <00:05:40.395>designed <00:05:40.595>to <00:05:40.795>restore <00:05:40.995>as <00:05:41.195>much

111
00:05:42.085 --> 00:05:45.485
<00:05:42.085>of <00:05:42.284>Bitcoin's <00:05:42.484>original <00:05:42.685>design <00:05:42.885>and <00:05:43.085>protocol <00:05:43.284>as <00:05:43.484>possible.

112
00:05:46.065 --> 00:05:49.765
<00:05:46.065>That's <00:05:46.265>because <00:05:46.465>over <00:05:46.665>the <00:05:46.865>decade <00:05:47.065>of <00:05:47.265>Bitcoin's <00:05:47.465>existence,

113
00:05:50.345 --> 00:05:53.445
<00:05:50.345>former <00:05:50.578>protocol <00:05:50.811>developers <00:05:51.045>have <00:05:51.278>changed <00:05:51.511>a <00:05:51.745>lot

114
00:05:53.445 --> 00:05:54.725
<00:05:53.445>of <00:05:53.829>Bitcoin's <00:05:54.213>original <00:05:54.597>design.

115
00:05:54.825 --> 00:05:56.045
<00:05:54.825>It <00:05:55.044>had <00:05:55.264>in <00:05:55.483>it <00:05:55.703>so <00:05:55.923>much

116
00:05:56.045 --> 00:05:58.365
<00:05:56.045>of <00:05:56.278>the <00:05:56.511>capabilities <00:05:56.745>developers <00:05:56.978>are <00:05:57.211>looking <00:05:57.445>for,

117
00:05:58.905 --> 00:06:00.125
<00:05:58.905>for <00:05:59.454>many <00:06:00.003>applications.

118
00:06:00.225 --> 00:06:02.725
<00:06:00.225>But <00:06:00.458>those <00:06:00.691>were <00:06:00.925>changed. <00:06:01.158>Those <00:06:01.391>are <00:06:01.625>restored

119
00:06:02.725 --> 00:06:04.285
<00:06:02.725>through <00:06:03.075>the <00:06:03.425>Genesis <00:06:03.775>hard <00:06:04.125>fork

120
00:06:04.665 --> 00:06:06.365
<00:06:04.665>and <00:06:04.898>there <00:06:05.131>were <00:06:05.365>many <00:06:05.598>changes <00:06:05.831>in <00:06:06.065>it.

121
00:06:06.705 --> 00:06:09.325
<00:06:06.705>But <00:06:06.880>the <00:06:07.055>key <00:06:07.229>things <00:06:07.405>for <00:06:07.580>developers <00:06:07.755>to <00:06:07.930>know <00:06:08.104>are

122
00:06:09.325 --> 00:06:11.365
<00:06:09.325>that <00:06:09.675>we <00:06:10.025>removed <00:06:10.375>artificial <00:06:10.724>limits

123
00:06:11.435 --> 00:06:14.085
<00:06:11.435>that <00:06:11.635>were <00:06:11.835>previously <00:06:12.035>imposed <00:06:12.235>on <00:06:12.435>the <00:06:12.635>protocol <00:06:12.835>such

124
00:06:14.085 --> 00:06:17.405
<00:06:14.085>as <00:06:14.284>block <00:06:14.484>size <00:06:14.685>and <00:06:14.885>transaction <00:06:15.085>and <00:06:15.284>data <00:06:15.484>capacity.

125
00:06:17.945 --> 00:06:20.405
<00:06:17.945>We <00:06:18.224>restored <00:06:18.505>the <00:06:18.784>full <00:06:19.065>original <00:06:19.344>functionality

126
00:06:20.545 --> 00:06:23.925
<00:06:20.545>of <00:06:20.825>Bitcoin <00:06:21.105>script, <00:06:21.385>the <00:06:21.665>programming <00:06:21.945>language,

127
00:06:23.925 --> 00:06:25.925
<00:06:23.925>which <00:06:24.158>is <00:06:24.391>used <00:06:24.625>within <00:06:24.858>the <00:06:25.091>Bitcoin <00:06:25.325>protocol,

128
00:06:26.185 --> 00:06:27.605
<00:06:26.185>and <00:06:26.367>Steve <00:06:26.550>is <00:06:26.732>gonna <00:06:26.915>talk <00:06:27.097>to <00:06:27.280>you <00:06:27.463>about

129
00:06:27.605 --> 00:06:29.245
<00:06:27.605>that <00:06:27.955>later <00:06:28.305>in <00:06:28.655>this <00:06:29.005>presentation

130
00:06:29.305 --> 00:06:30.805
<00:06:29.305>and <00:06:29.575>what <00:06:29.845>that <00:06:30.115>means <00:06:30.385>for <00:06:30.655>developers.

131
00:06:31.225 --> 00:06:34.645
<00:06:31.225>And <00:06:31.380>we <00:06:31.536>also <00:06:31.691>removed <00:06:31.847>some <00:06:32.002>detrimental <00:06:32.158>changes <00:06:32.313>that <00:06:32.469>were <00:06:32.625>made

132
00:06:34.645 --> 00:06:38.165
<00:06:34.645>to <00:06:34.820>Bitcoin's <00:06:34.995>protocol <00:06:35.169>over <00:06:35.344>the <00:06:35.520>years, <00:06:35.695>such <00:06:35.870>as <00:06:36.044>sunsetting,

133
00:06:38.165 --> 00:06:39.805
<00:06:38.165>what's <00:06:38.445>called <00:06:38.725>pay <00:06:39.005>to <00:06:39.285>script <00:06:39.565>hash,

134
00:06:40.095 --> 00:06:42.885
<00:06:40.095>which <00:06:40.375>has <00:06:40.655>created <00:06:40.935>some <00:06:41.215>significant <00:06:41.495>privacy

135
00:06:43.065 --> 00:06:44.645
<00:06:43.065>and <00:06:43.415>security <00:06:43.765>issues <00:06:44.115>in <00:06:44.465>Bitcoin.

136
00:06:45.025 --> 00:06:48.205
<00:06:45.025>And <00:06:45.200>this <00:06:45.375>was <00:06:45.549>designed <00:06:45.724>to <00:06:45.900>restore <00:06:46.075>Bitcoin's <00:06:46.250>original <00:06:46.424>power.

137
00:06:48.705 --> 00:06:50.765
<00:06:48.705>And <00:06:48.860>then <00:06:49.016>this <00:06:49.171>is <00:06:49.327>very <00:06:49.482>important <00:06:49.638>for <00:06:49.793>you <00:06:49.949>to <00:06:50.104>know

138
00:06:51.065 --> 00:06:53.725
<00:06:51.065>to <00:06:51.415>keep <00:06:51.765>the <00:06:52.115>protocol <00:06:52.465>stable.

139
00:06:54.435 --> 00:06:58.765
<00:06:54.435>Satoshi <00:06:54.610>Nakamoto <00:06:54.785>recognizes <00:06:54.960>far <00:06:55.135>back <00:06:55.310>in <00:06:55.485>Bitcoin's <00:06:55.660>life <00:06:55.835>all

140
00:06:58.765 --> 00:07:02.485
<00:06:58.765>the <00:06:58.892>way <00:06:59.019>back <00:06:59.146>in <00:06:59.274>2010, <00:06:59.401>10 <00:06:59.528>years <00:06:59.655>ago, <00:06:59.783>writing <00:06:59.910>at <00:07:00.037>the <00:07:00.164>time

141
00:07:02.485 --> 00:07:04.125
<00:07:02.485>that <00:07:02.718>the <00:07:02.951>nature <00:07:03.185>of <00:07:03.418>Bitcoin <00:07:03.651>is <00:07:03.885>such

142
00:07:04.125 --> 00:07:07.405
<00:07:04.125>that <00:07:04.405>once <00:07:04.685>version <00:07:04.965>0.1 <00:07:05.245>was <00:07:05.525>released,

143
00:07:07.505 --> 00:07:11.085
<00:07:07.505>the <00:07:07.660>core <00:07:07.816>design <00:07:07.971>was <00:07:08.127>set <00:07:08.282>in <00:07:08.438>stone <00:07:08.593>for <00:07:08.749>the <00:07:08.905>rest

144
00:07:11.265 --> 00:07:12.525
<00:07:11.265>of <00:07:11.832>its <00:07:12.399>lifetime.

145
00:07:13.385 --> 00:07:15.005
<00:07:13.385>Why <00:07:13.735>is <00:07:14.085>that <00:07:14.435>important? <00:07:14.784>It's

146
00:07:15.005 --> 00:07:17.885
<00:07:15.005>because <00:07:15.238>as <00:07:15.471>developers <00:07:15.705>as <00:07:15.938>well <00:07:16.171>as <00:07:16.405>people

147
00:07:17.905 --> 00:07:21.125
<00:07:17.905>who <00:07:18.080>might <00:07:18.255>support <00:07:18.429>big <00:07:18.604>enterprises, <00:07:18.780>you <00:07:18.955>need <00:07:19.130>a <00:07:19.304>stable

148
00:07:21.765 --> 00:07:25.085
<00:07:21.765>protocol <00:07:21.940>in <00:07:22.115>order <00:07:22.289>to <00:07:22.465>have <00:07:22.640>confidence <00:07:22.815>to <00:07:22.990>build <00:07:23.164>applications.

149
00:07:25.605 --> 00:07:27.805
<00:07:25.605>I <00:07:25.745>talk <00:07:25.885>to <00:07:26.025>a <00:07:26.165>lot <00:07:26.305>of <00:07:26.445>companies <00:07:26.585>as <00:07:26.725>well <00:07:26.865>as <00:07:27.005>developers

150
00:07:27.805 --> 00:07:29.605
<00:07:27.805>around <00:07:28.085>the <00:07:28.365>world <00:07:28.645>who <00:07:28.925>are <00:07:29.205>looking

151
00:07:29.745 --> 00:07:31.325
<00:07:29.745>for <00:07:30.025>a <00:07:30.305>blockchain <00:07:30.585>to <00:07:30.865>build <00:07:31.145>on.

152
00:07:31.585 --> 00:07:35.125
<00:07:31.585>And <00:07:31.712>the <00:07:31.839>one <00:07:31.966>thing <00:07:32.094>they <00:07:32.221>do <00:07:32.348>not <00:07:32.475>want <00:07:32.603>is <00:07:32.730>a <00:07:32.857>constantly <00:07:32.984>changing

153
00:07:35.725 --> 00:07:38.965
<00:07:35.725>protocol <00:07:35.925>because <00:07:36.125>otherwise <00:07:36.325>it <00:07:36.525>makes <00:07:36.725>it <00:07:36.925>very <00:07:37.125>difficult

154
00:07:38.965 --> 00:07:41.805
<00:07:38.965>to <00:07:39.165>commit <00:07:39.365>your <00:07:39.565>time <00:07:39.765>to <00:07:39.965>start <00:07:40.165>an <00:07:40.365>application

155
00:07:41.865 --> 00:07:44.805
<00:07:41.865>or <00:07:41.992>start <00:07:42.119>a <00:07:42.246>venture <00:07:42.374>or <00:07:42.501>your <00:07:42.628>business <00:07:42.755>if <00:07:42.883>you're <00:07:43.010>a <00:07:43.137>big <00:07:43.265>company,

156
00:07:45.185 --> 00:07:47.285
<00:07:45.185>to <00:07:45.465>launch <00:07:45.745>an <00:07:46.025>application <00:07:46.305>on <00:07:46.585>something

157
00:07:47.285 --> 00:07:48.725
<00:07:47.284>where <00:07:47.609>the <00:07:47.933>protocol <00:07:48.257>may <00:07:48.581>change.

158
00:07:49.385 --> 00:07:53.645
<00:07:49.385>So <00:07:49.525>our <00:07:49.664>team <00:07:49.805>has <00:07:49.945>committed <00:07:50.085>to <00:07:50.224>keeping <00:07:50.365>the <00:07:50.505>protocol <00:07:50.645>stable <00:07:50.784>now

159
00:07:53.645 --> 00:07:56.565
<00:07:53.645>that <00:07:53.820>the <00:07:53.995>original <00:07:54.169>Bitcoin <00:07:54.344>design <00:07:54.520>has <00:07:54.695>been <00:07:54.870>restored <00:07:55.044>in

160
00:07:56.565 --> 00:08:00.925
<00:07:56.565>Bitcoin <00:07:56.740>SV <00:07:56.915>with <00:07:57.090>the <00:07:57.265>stable <00:07:57.440>protocol, <00:07:57.615>we <00:07:57.790>also <00:07:57.965>want

161
00:08:01.065 --> 00:08:04.005
<00:08:01.065>to <00:08:01.265>unleash <00:08:01.465>the <00:08:01.665>massive <00:08:01.865>scaling <00:08:02.065>power <00:08:02.265>of <00:08:02.465>Bitcoin.

162
00:08:04.335 --> 00:08:08.805
<00:08:04.335>There <00:08:04.510>have <00:08:04.685>been <00:08:04.859>battles <00:08:05.034>for <00:08:05.210>many <00:08:05.385>years <00:08:05.560>over <00:08:05.734>whether

163
00:08:08.805 --> 00:08:10.965
<00:08:08.805>or <00:08:09.038>not <00:08:09.271>the <00:08:09.505>Bitcoin <00:08:09.738>blockchain <00:08:09.971>should <00:08:10.205>scale

164
00:08:11.555 --> 00:08:13.085
<00:08:11.555>because <00:08:12.243>bitcoin <00:08:12.931>core

165
00:08:13.085 --> 00:08:15.765
<00:08:13.085>and <00:08:13.260>the <00:08:13.435>BTC <00:08:13.609>network <00:08:13.784>kept <00:08:13.960>the <00:08:14.135>block <00:08:14.310>size <00:08:14.484>small.

166
00:08:16.385 --> 00:08:17.845
<00:08:16.385>Its <00:08:16.713>network <00:08:17.042>is <00:08:17.370>only <00:08:17.699>capable

167
00:08:17.945 --> 00:08:20.085
<00:08:17.945>of <00:08:18.178>doing <00:08:18.411>about <00:08:18.645>three <00:08:18.878>transactions <00:08:19.111>a <00:08:19.344>second,

168
00:08:20.425 --> 00:08:23.645
<00:08:20.425>or <00:08:20.580>at <00:08:20.736>maximum <00:08:20.891>seven <00:08:21.047>transactions <00:08:21.202>a <00:08:21.358>second <00:08:21.513>that <00:08:21.669>will <00:08:21.825>know

169
00:08:23.645 --> 00:08:24.845
<00:08:23.645>where <00:08:24.725>rival

170
00:08:25.425 --> 00:08:28.125
<00:08:25.425>or <00:08:25.580>compete <00:08:25.736>with <00:08:25.891>the <00:08:26.047>payment <00:08:26.202>networks <00:08:26.358>of <00:08:26.513>the <00:08:26.669>world, <00:08:26.825>such

171
00:08:28.125 --> 00:08:31.365
<00:08:28.125>as <00:08:28.325>Visa, <00:08:28.525>which <00:08:28.725>average <00:08:28.925>2000 <00:08:29.125>transactions <00:08:29.325>a <00:08:29.525>second,

172
00:08:31.465 --> 00:08:34.805
<00:08:31.465>or <00:08:31.664>at <00:08:31.864>peak <00:08:32.064>periods, <00:08:32.265>56,000 <00:08:32.464>transactions <00:08:32.664>a <00:08:32.865>second.

173
00:08:35.785 --> 00:08:38.085
<00:08:35.784>Our <00:08:36.064>belief <00:08:36.344>for <00:08:36.625>Bitcoin <00:08:36.905>SV <00:08:37.184>is

174
00:08:38.085 --> 00:08:42.125
<00:08:38.085>that <00:08:38.285>the <00:08:38.485>Bitcoin <00:08:38.685>blockchain <00:08:38.885>can <00:08:39.085>have <00:08:39.285>unbounded <00:08:39.485>scaling.

175
00:08:42.495 --> 00:08:45.405
<00:08:42.495>There <00:08:42.669>should <00:08:42.845>not <00:08:43.020>be <00:08:43.195>limits <00:08:43.370>placed <00:08:43.544>upon <00:08:43.720>its <00:08:43.895>scaling

176
00:08:45.535 --> 00:08:47.965
<00:08:45.535>capability <00:08:45.885>by <00:08:46.235>the <00:08:46.584>protocol <00:08:46.935>developers.

177
00:08:48.265 --> 00:08:49.885
<00:08:48.265>So <00:08:48.545>that <00:08:48.824>limit <00:08:49.105>has <00:08:49.385>been <00:08:49.665>lifted

178
00:08:50.545 --> 00:08:52.205
<00:08:50.545>and <00:08:50.895>the <00:08:51.245>network <00:08:51.594>can <00:08:51.944>scale

179
00:08:52.305 --> 00:08:56.085
<00:08:52.305>to <00:08:52.584>whatever <00:08:52.864>competitive <00:08:53.145>market <00:08:53.425>forces <00:08:53.704>require.

180
00:08:56.895 --> 00:08:58.685
<00:08:56.895>Steve <00:08:57.069>and <00:08:57.245>his <00:08:57.420>team <00:08:57.595>have <00:08:57.770>been <00:08:57.944>leading <00:08:58.120>a <00:08:58.295>lot

181
00:08:58.685 --> 00:09:00.005
<00:08:58.685>of <00:08:59.279>technical <00:08:59.873>improvements

182
00:09:00.225 --> 00:09:03.165
<00:09:00.225>and <00:09:00.425>testing <00:09:00.625>to <00:09:00.825>ensure <00:09:01.025>that <00:09:01.225>Bitcoin <00:09:01.425>can <00:09:01.625>scale.

183
00:09:03.755 --> 00:09:07.365
<00:09:03.755>This <00:09:03.955>is <00:09:04.155>critical <00:09:04.355>because <00:09:04.555>other <00:09:04.755>competing <00:09:04.955>networks <00:09:05.155>such

184
00:09:07.365 --> 00:09:10.725
<00:09:07.365>as <00:09:07.540>the <00:09:07.715>Ethereum <00:09:07.890>network <00:09:08.065>have <00:09:08.240>run <00:09:08.415>into <00:09:08.590>scaling <00:09:08.765>problems,

185
00:09:10.725 --> 00:09:12.245
<00:09:10.725>which <00:09:10.998>are <00:09:11.272>very <00:09:11.545>well <00:09:11.819>known <00:09:12.093>now.

186
00:09:12.565 --> 00:09:16.045
<00:09:12.565>Metallic <00:09:12.765>butrin <00:09:12.965>in <00:09:13.165>August <00:09:13.365>of <00:09:13.565>last <00:09:13.765>year <00:09:13.965>acknowledged

187
00:09:16.045 --> 00:09:20.085
<00:09:16.045>that <00:09:16.219>the <00:09:16.395>Ethereum <00:09:16.569>blockchain <00:09:16.745>was <00:09:16.920>almost <00:09:17.094>full <00:09:17.270>last <00:09:17.444>summer.

188
00:09:20.555 --> 00:09:23.685
<00:09:20.555>That <00:09:20.729>has <00:09:20.905>led <00:09:21.079>many <00:09:21.255>businesses <00:09:21.430>as <00:09:21.604>well <00:09:21.780>as <00:09:21.954>developers

189
00:09:23.825 --> 00:09:27.125
<00:09:23.825>to <00:09:24.058>stop <00:09:24.291>developing <00:09:24.525>applications <00:09:24.758>on <00:09:24.991>that <00:09:25.225>chain

190
00:09:27.385 --> 00:09:29.205
<00:09:27.385>and <00:09:27.735>instead <00:09:28.085>look <00:09:28.435>for <00:09:28.785>alternatives.

191
00:09:30.065 --> 00:09:31.925
<00:09:30.065>What's <00:09:30.415>happening <00:09:30.765>on <00:09:31.115>Bitcoin <00:09:31.465>sv?

192
00:09:32.315 --> 00:09:36.005
<00:09:32.315>Well, <00:09:32.470>there <00:09:32.626>is <00:09:32.781>no <00:09:32.937>limit <00:09:33.092>on <00:09:33.248>the <00:09:33.403>block <00:09:33.559>size <00:09:33.715>anymore,

193
00:09:36.015 --> 00:09:38.125
<00:09:36.015>which <00:09:36.295>means <00:09:36.574>in <00:09:36.855>any <00:09:37.135>given <00:09:37.415>block,

194
00:09:38.125 --> 00:09:41.365
<00:09:38.125>there's <00:09:38.300>no <00:09:38.475>limit <00:09:38.650>on <00:09:38.825>the <00:09:39.000>potential <00:09:39.175>number <00:09:39.350>of <00:09:39.525>transactions

195
00:09:41.825 --> 00:09:45.205
<00:09:41.825>or <00:09:41.980>data <00:09:42.136>that <00:09:42.291>can <00:09:42.447>be <00:09:42.602>included <00:09:42.758>that <00:09:42.913>are <00:09:43.069>practical <00:09:43.225>limitations

196
00:09:45.205 --> 00:09:46.965
<00:09:45.205>that <00:09:45.555>are <00:09:45.905>being <00:09:46.255>improved <00:09:46.605>constantly.

197
00:09:47.265 --> 00:09:50.445
<00:09:47.265>But <00:09:47.420>we've <00:09:47.576>seen <00:09:47.731>world <00:09:47.887>record <00:09:48.042>blocks <00:09:48.198>mined <00:09:48.353>on <00:09:48.509>Bitcoin <00:09:48.665>SV

198
00:09:50.635 --> 00:09:51.765
<00:09:50.635>that <00:09:50.889>are <00:09:51.143>not <00:09:51.397>just <00:09:51.652>one

199
00:09:51.825 --> 00:09:54.525
<00:09:51.825>or <00:09:51.980>two <00:09:52.136>megabyte <00:09:52.291>in <00:09:52.447>size <00:09:52.602>in <00:09:52.758>May <00:09:52.913>of <00:09:53.069>this <00:09:53.225>year.

200
00:09:54.705 --> 00:09:59.365
<00:09:54.705>Two <00:09:54.880>blocks <00:09:55.055>over <00:09:55.230>300 <00:09:55.405>megabytes <00:09:55.580>in <00:09:55.755>size <00:09:55.930>were <00:09:56.105>mined,

201
00:09:59.655 --> 00:10:03.245
<00:09:59.655>which <00:09:59.855>each <00:10:00.055>had <00:10:00.255>over <00:10:00.454>a <00:10:00.655>million <00:10:00.855>individual <00:10:01.055>transactions.

202
00:10:03.785 --> 00:10:06.125
<00:10:03.785>That's <00:10:03.959>great, <00:10:04.135>but <00:10:04.310>we <00:10:04.485>can <00:10:04.660>still <00:10:04.834>do <00:10:05.010>much <00:10:05.185>more

203
00:10:06.185 --> 00:10:08.245
<00:10:06.185>as <00:10:06.535>the <00:10:06.885>technical <00:10:07.234>improvements <00:10:07.584>continue.

204
00:10:08.585 --> 00:10:11.885
<00:10:08.585>But <00:10:08.760>it's <00:10:08.935>scaling <00:10:09.110>of <00:10:09.285>this <00:10:09.460>type <00:10:09.635>that <00:10:09.810>is <00:10:09.985>necessary

205
00:10:12.065 --> 00:10:15.645
<00:10:12.065>to <00:10:12.240>create <00:10:12.415>a <00:10:12.590>blockchain <00:10:12.765>for <00:10:12.940>developers <00:10:13.115>to <00:10:13.290>have <00:10:13.465>applications

206
00:10:15.675 --> 00:10:17.805
<00:10:15.675>that <00:10:15.954>can <00:10:16.234>power <00:10:16.515>many, <00:10:16.795>many <00:10:17.074>transactions.

207
00:10:18.585 --> 00:10:21.645
<00:10:18.585>Our <00:10:18.785>team <00:10:18.985>also <00:10:19.185>runs <00:10:19.385>a <00:10:19.585>scaling <00:10:19.785>test <00:10:19.985>network,

208
00:10:22.055 --> 00:10:25.365
<00:10:22.055>which <00:10:22.288>is <00:10:22.521>continually, <00:10:22.755>uh, <00:10:22.988>testing <00:10:23.221>the <00:10:23.454>bounds

209
00:10:25.545 --> 00:10:27.925
<00:10:25.545>of <00:10:25.778>what's <00:10:26.011>capable <00:10:26.245>on <00:10:26.478>the <00:10:26.711>Bitcoin <00:10:26.944>blockchain.

210
00:10:28.075 --> 00:10:30.445
<00:10:28.075>They've <00:10:28.250>been <00:10:28.425>mining <00:10:28.600>blocks <00:10:28.775>on <00:10:28.950>the <00:10:29.125>scaling <00:10:29.300>test <00:10:29.475>network

211
00:10:30.515 --> 00:10:33.925
<00:10:30.515>that <00:10:30.689>are <00:10:30.865>2.7 <00:10:31.040>to <00:10:31.215>6 <00:10:31.390>million <00:10:31.564>transactions <00:10:31.740>per <00:10:31.915>block.

212
00:10:34.305 --> 00:10:36.845
<00:10:34.305>And <00:10:34.479>if <00:10:34.655>that's <00:10:34.829>sustainable, <00:10:35.005>which <00:10:35.180>we <00:10:35.354>believe <00:10:35.530>it <00:10:35.704>is,

213
00:10:37.185 --> 00:10:38.845
<00:10:37.185>and <00:10:37.464>more <00:10:37.744>on <00:10:38.025>the <00:10:38.305>main <00:10:38.584>net,

214
00:10:38.905 --> 00:10:40.605
<00:10:38.905>you're <00:10:39.255>gonna <00:10:39.605>have <00:10:39.954>theoretical <00:10:40.305>throughput

215
00:10:40.605 --> 00:10:43.725
<00:10:40.605>that <00:10:40.885>exceeds <00:10:41.165>6,000 <00:10:41.445>transactions <00:10:41.725>a <00:10:42.005>second.

216
00:10:44.305 --> 00:10:47.005
<00:10:44.305>And <00:10:44.460>that's <00:10:44.616>what <00:10:44.771>as <00:10:44.927>a <00:10:45.082>developer <00:10:45.238>you <00:10:45.393>want <00:10:45.549>to <00:10:45.704>see.

217
00:10:47.385 --> 00:10:50.605
<00:10:47.385>You <00:10:47.540>don't <00:10:47.696>wanna <00:10:47.851>spend <00:10:48.007>your <00:10:48.162>time <00:10:48.318>building <00:10:48.473>something <00:10:48.629>if <00:10:48.785>you

218
00:10:50.605 --> 00:10:53.325
<00:10:50.605>cannot <00:10:50.885>support <00:10:51.165>large <00:10:51.445>numbers <00:10:51.725>of <00:10:52.005>transactions.

219
00:10:54.225 --> 00:10:58.205
<00:10:54.225>It <00:10:54.400>also <00:10:54.575>means <00:10:54.750>the <00:10:54.925>capability <00:10:55.100>to <00:10:55.275>do <00:10:55.450>micro <00:10:55.625>transactions,

220
00:10:58.355 --> 00:10:59.805
<00:10:58.355>meaning <00:10:59.660>payments

221
00:10:59.985 --> 00:11:02.885
<00:10:59.985>or <00:11:00.160>data <00:11:00.335>where <00:11:00.510>you're <00:11:00.685>sending <00:11:00.860>small <00:11:01.035>amounts <00:11:01.210>of <00:11:01.385>money

222
00:11:03.155 --> 00:11:05.005
<00:11:03.155>that <00:11:03.435>are <00:11:03.714>attached <00:11:03.995>to <00:11:04.275>the <00:11:04.555>transaction.

223
00:11:05.065 --> 00:11:08.325
<00:11:05.065>And <00:11:05.205>by <00:11:05.345>small <00:11:05.485>we <00:11:05.625>mean <00:11:05.765>even <00:11:05.905>fractions <00:11:06.045>of <00:11:06.185>a <00:11:06.325>US <00:11:06.465>set.

224
00:11:08.865 --> 00:11:10.125
<00:11:08.865>And <00:11:09.432>that's <00:11:09.999>possible

225
00:11:10.235 --> 00:11:13.925
<00:11:10.235>because <00:11:10.410>of <00:11:10.585>the <00:11:10.760>massive <00:11:10.935>scaling <00:11:11.110>we're <00:11:11.285>seeing <00:11:11.460>on <00:11:11.635>other

226
00:11:13.925 --> 00:11:16.605
<00:11:13.925>networks <00:11:14.125>such <00:11:14.324>as <00:11:14.525>Ethereum, <00:11:14.724>that <00:11:14.925>there <00:11:15.125>are <00:11:15.324>periods

227
00:11:16.745 --> 00:11:19.645
<00:11:16.745>of <00:11:16.945>congestion <00:11:17.145>where <00:11:17.345>the <00:11:17.545>fees <00:11:17.745>that <00:11:17.945>are <00:11:18.145>required

228
00:11:19.645 --> 00:11:22.845
<00:11:19.645>to <00:11:19.845>send <00:11:20.045>a <00:11:20.245>transaction <00:11:20.444>skyrocket <00:11:20.645>they <00:11:20.845>get <00:11:21.045>high.

229
00:11:23.075 --> 00:11:25.685
<00:11:23.075>Here, <00:11:23.250>for <00:11:23.425>example, <00:11:23.600>is <00:11:23.775>from <00:11:23.950>November <00:11:24.125>of <00:11:24.300>last <00:11:24.475>year,

230
00:11:25.685 --> 00:11:27.445
<00:11:25.685>there <00:11:26.035>was <00:11:26.385>a <00:11:26.734>headline <00:11:27.084>noting

231
00:11:27.445 --> 00:11:30.285
<00:11:27.445>that <00:11:27.678>the <00:11:27.911>Ethereum <00:11:28.145>transaction <00:11:28.378>fees <00:11:28.611>were <00:11:28.845>soaring

232
00:11:30.285 --> 00:11:33.765
<00:11:30.285>to <00:11:30.440>over <00:11:30.596>30 <00:11:30.751>US <00:11:30.907>dollars <00:11:31.062>to <00:11:31.218>send <00:11:31.373>a <00:11:31.529>single <00:11:31.685>transaction,

233
00:11:33.765 --> 00:11:37.245
<00:11:33.765>which <00:11:33.905>is <00:11:34.045>far <00:11:34.185>too <00:11:34.324>high <00:11:34.465>if <00:11:34.605>you <00:11:34.745>want <00:11:34.885>to <00:11:35.025>create <00:11:35.165>tokens

234
00:11:37.245 --> 00:11:38.485
<00:11:37.245>or <00:11:37.617>smart <00:11:37.989>contract <00:11:38.361>systems

235
00:11:38.785 --> 00:11:42.445
<00:11:38.785>or <00:11:38.985>internet <00:11:39.185>of <00:11:39.385>things <00:11:39.584>communications <00:11:39.785>on <00:11:39.985>a <00:11:40.185>blockchain.

236
00:11:42.795 --> 00:11:47.045
<00:11:42.795>Whereas <00:11:42.969>on <00:11:43.145>Bitcoin <00:11:43.319>sv, <00:11:43.495>because <00:11:43.670>our <00:11:43.844>scaling <00:11:44.020>is <00:11:44.194>unbounded

237
00:11:47.265 --> 00:11:50.485
<00:11:47.265>and <00:11:47.420>block <00:11:47.576>size <00:11:47.731>is <00:11:47.887>now <00:11:48.042>not <00:11:48.198>limited <00:11:48.353>by <00:11:48.509>the <00:11:48.665>protocol,

238
00:11:50.875 --> 00:11:53.085
<00:11:50.875>transaction <00:11:51.108>fees <00:11:51.341>are <00:11:51.575>not <00:11:51.808>just <00:11:52.041>really <00:11:52.275>low.

239
00:11:53.475 --> 00:11:55.045
<00:11:53.475>They're <00:11:54.175>very <00:11:54.875>reliable.

240
00:11:55.195 --> 00:11:57.085
<00:11:55.195>They <00:11:55.475>are <00:11:55.755>not <00:11:56.035>1 <00:11:56.315>cent <00:11:56.595>tomorrow,

241
00:11:57.665 --> 00:12:00.165
<00:11:57.665>but <00:11:57.865>30 <00:11:58.064>US <00:11:58.265>dollars <00:11:58.464>a <00:11:58.665>week <00:11:58.865>from <00:11:59.064>now.

242
00:12:00.165 --> 00:12:02.125
<00:12:00.165>That <00:12:00.444>is <00:12:00.724>very <00:12:01.005>difficult <00:12:01.285>for <00:12:01.564>businesses

243
00:12:02.145 --> 00:12:04.485
<00:12:02.145>to <00:12:02.495>predict <00:12:02.845>their <00:12:03.194>fee <00:12:03.545>system.

244
00:12:05.205 --> 00:12:06.205
<00:12:05.205>I <00:12:05.505>just <00:12:05.805>checked <00:12:06.105>yesterday

245
00:12:06.545 --> 00:12:10.205
<00:12:06.545>and <00:12:06.685>to <00:12:06.824>send <00:12:06.964>a <00:12:07.104>payment <00:12:07.245>transaction <00:12:07.385>on <00:12:07.525>Bitcoin <00:12:07.665>se, <00:12:07.805>the <00:12:07.944>average

246
00:12:10.385 --> 00:12:13.405
<00:12:10.385>as <00:12:10.618>of <00:12:10.851>yesterday <00:12:11.085>was <00:12:11.318>less <00:12:11.551>than <00:12:11.785>100th

247
00:12:13.665 --> 00:12:15.805
<00:12:13.665>of <00:12:14.131>one <00:12:14.598>US <00:12:15.064>cent.

248
00:12:16.635 --> 00:12:18.725
<00:12:16.635>That <00:12:16.868>means <00:12:17.101>you <00:12:17.335>can <00:12:17.568>create <00:12:17.801>business <00:12:18.035>models

249
00:12:18.825 --> 00:12:21.765
<00:12:18.825>and <00:12:19.025>payment <00:12:19.225>systems <00:12:19.425>that <00:12:19.625>do <00:12:19.825>many, <00:12:20.025>many <00:12:20.225>things

250
00:12:22.465 --> 00:12:26.405
<00:12:22.465>and <00:12:22.605>it <00:12:22.745>allows <00:12:22.885>us <00:12:23.025>to <00:12:23.165>re-envision <00:12:23.305>what <00:12:23.445>the <00:12:23.585>internet <00:12:23.725>can <00:12:23.865>be

251
00:12:27.005 --> 00:12:30.565
<00:12:27.005>a <00:12:27.180>new <00:12:27.355>world <00:12:27.530>where <00:12:27.705>all <00:12:27.880>of <00:12:28.055>our <00:12:28.230>online <00:12:28.405>interactions

252
00:12:31.025 --> 00:12:33.765
<00:12:31.025>and <00:12:31.305>online <00:12:31.584>activity <00:12:31.865>can <00:12:32.145>be <00:12:32.425>monetized,

253
00:12:33.765 --> 00:12:36.445
<00:12:33.765>where <00:12:33.892>you <00:12:34.019>might <00:12:34.146>actually <00:12:34.274>have <00:12:34.401>to <00:12:34.528>pay <00:12:34.655>a <00:12:34.783>small <00:12:34.910>amount <00:12:35.037>of <00:12:35.165>money

254
00:12:36.665 --> 00:12:39.365
<00:12:36.665>to <00:12:36.792>do <00:12:36.919>things <00:12:37.046>on <00:12:37.174>the <00:12:37.301>internet, <00:12:37.428>but <00:12:37.555>you <00:12:37.683>can <00:12:37.810>get <00:12:37.937>paid <00:12:38.064>back.

255
00:12:39.865 --> 00:12:42.365
<00:12:39.865>And <00:12:40.098>we're <00:12:40.331>seeing <00:12:40.565>in <00:12:40.798>our <00:12:41.031>ecosystem <00:12:41.265>developers

256
00:12:42.385 --> 00:12:44.205
<00:12:42.385>who <00:12:42.735>are <00:12:43.085>creative <00:12:43.435>creating <00:12:43.785>applications

257
00:12:44.205 --> 00:12:46.365
<00:12:44.205>where <00:12:44.555>they're <00:12:44.905>reinventing <00:12:45.255>social <00:12:45.605>media.

258
00:12:46.745 --> 00:12:48.925
<00:12:46.745>So <00:12:47.025>for <00:12:47.305>example, <00:12:47.585>to <00:12:47.865>stop <00:12:48.145>fraud

259
00:12:49.185 --> 00:12:52.605
<00:12:49.185>and <00:12:49.359>fake <00:12:49.535>accounts <00:12:49.709>on <00:12:49.885>something <00:12:50.060>like <00:12:50.234>Twitter, <00:12:50.410>you <00:12:50.584>have

260
00:12:52.605 --> 00:12:57.165
<00:12:52.605>to <00:12:52.732>actually <00:12:52.859>pay <00:12:52.986>to <00:12:53.114>post <00:12:53.241>a <00:12:53.368>social <00:12:53.495>media <00:12:53.623>message <00:12:53.750>or <00:12:53.877>to <00:12:54.005>reply

261
00:12:57.265 --> 00:13:01.165
<00:12:57.265>and <00:12:57.405>like, <00:12:57.545>but <00:12:57.685>then <00:12:57.824>someone <00:12:57.965>pays <00:12:58.105>you <00:12:58.245>back <00:12:58.385>in <00:12:58.525>tiny <00:12:58.665>amounts

262
00:13:01.165 --> 00:13:04.725
<00:13:01.165>of <00:13:01.320>Bitcoin <00:13:01.476>SV <00:13:01.631>to <00:13:01.787>your <00:13:01.942>wallet <00:13:02.098>in <00:13:02.253>order <00:13:02.409>to <00:13:02.564>engage

263
00:13:04.725 --> 00:13:07.445
<00:13:04.725>with <00:13:04.880>your <00:13:05.036>content <00:13:05.191>to <00:13:05.347>like <00:13:05.502>it, <00:13:05.658>to <00:13:05.813>reply <00:13:05.969>to <00:13:06.125>it.

264
00:13:08.105 --> 00:13:10.725
<00:13:08.105>Uh, <00:13:08.280>models <00:13:08.455>where <00:13:08.630>people <00:13:08.805>pay <00:13:08.980>to <00:13:09.155>store <00:13:09.330>your <00:13:09.505>identity

265
00:13:11.065 --> 00:13:13.685
<00:13:11.065>or <00:13:11.220>data <00:13:11.376>on <00:13:11.531>chain, <00:13:11.687>but <00:13:11.842>then <00:13:11.998>you <00:13:12.153>as <00:13:12.309>a <00:13:12.465>consumer

266
00:13:13.785 --> 00:13:17.925
<00:13:13.785>or <00:13:13.985>user <00:13:14.185>can <00:13:14.385>get <00:13:14.584>paid <00:13:14.785>by <00:13:14.985>authorizing <00:13:15.185>companies

267
00:13:17.945 --> 00:13:20.045
<00:13:17.945>to <00:13:18.178>access <00:13:18.411>your <00:13:18.645>data <00:13:18.878>on <00:13:19.111>the <00:13:19.345>blockchain.

268
00:13:20.335 --> 00:13:22.125
<00:13:20.335>Small <00:13:20.685>amounts, <00:13:21.035>again, <00:13:21.385>a <00:13:21.735>Bitcoin.

269
00:13:22.555 --> 00:13:24.845
<00:13:22.555>Same <00:13:22.755>thing <00:13:22.954>for <00:13:23.155>reinventing <00:13:23.354>how <00:13:23.555>we <00:13:23.755>access <00:13:23.954>media.

270
00:13:24.915 --> 00:13:29.605
<00:13:24.915>What <00:13:25.042>if <00:13:25.169>you <00:13:25.296>had <00:13:25.424>to <00:13:25.551>pay <00:13:25.678>per <00:13:25.805>article <00:13:25.933>to <00:13:26.060>read <00:13:26.187>online <00:13:26.314>news

271
00:13:29.785 --> 00:13:33.005
<00:13:29.785>as <00:13:29.940>opposed <00:13:30.096>to <00:13:30.251>paying <00:13:30.407>a <00:13:30.562>monthly <00:13:30.718>or <00:13:30.873>annual <00:13:31.029>subscription <00:13:31.185>fee?

272
00:13:33.465 --> 00:13:37.245
<00:13:33.465>So <00:13:33.640>these <00:13:33.815>are <00:13:33.990>the <00:13:34.165>fascinating <00:13:34.340>types <00:13:34.515>of <00:13:34.690>creative <00:13:34.865>ideas

273
00:13:37.435 --> 00:13:38.685
<00:13:37.435>that <00:13:37.810>can <00:13:38.185>be <00:13:38.560>explored.

274
00:13:38.825 --> 00:13:43.485
<00:13:38.825>If <00:13:38.965>you <00:13:39.105>have <00:13:39.245>a <00:13:39.385>blockchain <00:13:39.525>where <00:13:39.665>it <00:13:39.805>costs <00:13:39.945>only <00:13:40.085>one <00:13:40.225>100th

275
00:13:43.505 --> 00:13:47.645
<00:13:43.505>of <00:13:43.632>a <00:13:43.759>US <00:13:43.886>set <00:13:44.014>to <00:13:44.141>do <00:13:44.268>any <00:13:44.395>individual <00:13:44.523>transaction, <00:13:44.650>you <00:13:44.777>can <00:13:44.905>change

276
00:13:47.665 --> 00:13:50.125
<00:13:47.665>how <00:13:47.944>our <00:13:48.224>entire <00:13:48.505>online <00:13:48.785>activity <00:13:49.064>occurs.

277
00:13:51.385 --> 00:13:53.165
<00:13:51.385>And <00:13:51.560>it <00:13:51.735>means <00:13:51.910>we <00:13:52.085>can <00:13:52.260>move <00:13:52.435>to <00:13:52.610>a <00:13:52.785>world

278
00:13:53.535 --> 00:13:56.125
<00:13:53.535>where <00:13:53.814>everything <00:13:54.094>is <00:13:54.375>not <00:13:54.655>just <00:13:54.935>online

279
00:13:56.465 --> 00:13:58.125
<00:13:56.465>as <00:13:56.698>the <00:13:56.931>internet <00:13:57.165>allowed <00:13:57.398>us <00:13:57.631>to <00:13:57.865>create,

280
00:13:58.545 --> 00:14:02.765
<00:13:58.545>but <00:13:58.778>in <00:13:59.011>possibility <00:13:59.245>anything <00:13:59.478>could <00:13:59.711>be <00:13:59.944>unchained.

281
00:14:03.155 --> 00:14:06.805
<00:14:03.155>Your <00:14:03.329>data, <00:14:03.505>um, <00:14:03.680>our <00:14:03.855>interaction <00:14:04.030>on <00:14:04.204>the <00:14:04.380>internet <00:14:04.555>such

282
00:14:06.805 --> 00:14:10.325
<00:14:06.805>as <00:14:07.038>web <00:14:07.271>searches, <00:14:07.505>our, <00:14:07.738>uh, <00:14:07.971>e-commerce <00:14:08.204>systems,

283
00:14:10.575 --> 00:14:13.565
<00:14:10.575>everything <00:14:10.925>can <00:14:11.275>be <00:14:11.625>recorded, <00:14:11.975>tracked,

284
00:14:13.585 --> 00:14:17.285
<00:14:13.585>and <00:14:13.760>monetized <00:14:13.935>through <00:14:14.110>the <00:14:14.285>Bitcoin <00:14:14.460>blockchain <00:14:14.635>as <00:14:14.810>a <00:14:14.985>ledger

285
00:14:17.395 --> 00:14:20.845
<00:14:17.395>that <00:14:17.628>combines <00:14:17.861>your <00:14:18.095>data <00:14:18.328>with <00:14:18.561>monetary <00:14:18.795>value.

286
00:14:21.755 --> 00:14:24.925
<00:14:21.755>That <00:14:21.910>leads <00:14:22.066>to <00:14:22.221>this <00:14:22.377>concept, <00:14:22.532>which <00:14:22.688>we <00:14:22.843>call <00:14:22.999>the <00:14:23.155>metnet

287
00:14:25.605 --> 00:14:28.605
<00:14:25.605>a <00:14:25.780>new <00:14:25.955>more <00:14:26.130>commercial <00:14:26.305>internet <00:14:26.480>for <00:14:26.655>all <00:14:26.830>of <00:14:27.005>us

288
00:14:28.625 --> 00:14:29.805
<00:14:28.625>as <00:14:29.156>individual <00:14:29.686>users

289
00:14:30.435 --> 00:14:34.725
<00:14:30.435>because <00:14:30.635>we're <00:14:30.834>able <00:14:31.035>to <00:14:31.234>monetize <00:14:31.435>our <00:14:31.635>individual <00:14:31.834>activity

290
00:14:34.865 --> 00:14:38.085
<00:14:34.865>and <00:14:35.098>data <00:14:35.331>on <00:14:35.565>the <00:14:35.798>online <00:14:36.031>and <00:14:36.265>environments.

291
00:14:39.675 --> 00:14:42.925
<00:14:39.675>There's <00:14:39.849>a <00:14:40.025>whole <00:14:40.199>paradigm <00:14:40.375>that's <00:14:40.550>happening <00:14:40.724>in <00:14:40.900>Bitcoin <00:14:41.074>SV

292
00:14:43.095 --> 00:14:44.845
<00:14:43.095>where <00:14:43.295>we're <00:14:43.495>taking <00:14:43.695>a <00:14:43.895>look <00:14:44.095>at <00:14:44.295>the <00:14:44.495>blockchain

293
00:14:44.905 --> 00:14:48.445
<00:14:44.905>as <00:14:45.138>a <00:14:45.371>universal <00:14:45.605>server <00:14:45.838>where <00:14:46.071>data, <00:14:46.305>websites

294
00:14:48.505 --> 00:14:50.965
<00:14:48.505>and <00:14:48.738>content <00:14:48.971>can <00:14:49.205>be <00:14:49.438>hosted <00:14:49.671>on <00:14:49.905>chain

295
00:14:51.265 --> 00:14:53.805
<00:14:51.265>and <00:14:51.545>accessed, <00:14:51.824>uh, <00:14:52.105>via <00:14:52.385>internet <00:14:52.665>browsers

296
00:14:53.805 --> 00:14:55.845
<00:14:53.805>and <00:14:54.155>applications <00:14:54.505>from <00:14:54.854>a <00:14:55.204>blockchain.

297
00:14:56.155 --> 00:14:59.765
<00:14:56.155>There's <00:14:56.310>a <00:14:56.466>protocol <00:14:56.621>that <00:14:56.777>n <00:14:56.932>chain's <00:14:57.088>team <00:14:57.243>has <00:14:57.399>created, <00:14:57.555>which

298
00:15:00.395 --> 00:15:04.325
<00:15:00.395>organizes <00:15:00.595>the <00:15:00.795>data <00:15:00.995>structure, <00:15:01.194>uh, <00:15:01.395>over <00:15:01.595>Bitcoin <00:15:01.795>so

299
00:15:04.325 --> 00:15:06.005
<00:15:04.325>that <00:15:04.675>people <00:15:05.025>can <00:15:05.375>create <00:15:05.725>applications

300
00:15:06.005 --> 00:15:09.565
<00:15:06.005>and <00:15:06.205>easily <00:15:06.405>find <00:15:06.605>data, <00:15:06.805>uh, <00:15:07.005>from <00:15:07.205>the <00:15:07.405>blockchain.

301
00:15:09.745 --> 00:15:13.405
<00:15:09.745>So <00:15:09.885>here's <00:15:10.025>an <00:15:10.165>image <00:15:10.305>of <00:15:10.445>imagining <00:15:10.585>the <00:15:10.725>blocks <00:15:10.865>on <00:15:11.005>the <00:15:11.145>right

302
00:15:13.405 --> 00:15:16.645
<00:15:13.405>of <00:15:13.545>the <00:15:13.685>screen <00:15:13.824>as <00:15:13.964>the <00:15:14.105>blockchain <00:15:14.245>allowing <00:15:14.385>you <00:15:14.525>to <00:15:14.665>store <00:15:14.805>data,

303
00:15:16.945 --> 00:15:20.365
<00:15:16.945>people <00:15:17.120>creating <00:15:17.295>search <00:15:17.470>engines <00:15:17.645>to <00:15:17.820>access <00:15:17.995>that <00:15:18.170>data, <00:15:18.345>you

304
00:15:20.365 --> 00:15:24.085
<00:15:20.365>as <00:15:20.565>a <00:15:20.765>developer <00:15:20.965>to <00:15:21.165>create <00:15:21.365>applications <00:15:21.565>that <00:15:21.765>leverage

305
00:15:24.085 --> 00:15:26.685
<00:15:24.085>that <00:15:24.318>data <00:15:24.551>and <00:15:24.785>allow <00:15:25.018>people <00:15:25.251>as <00:15:25.485>users

306
00:15:26.825 --> 00:15:29.845
<00:15:26.825>to <00:15:27.025>even <00:15:27.225>manage <00:15:27.425>their <00:15:27.625>identity <00:15:27.825>from <00:15:28.025>the <00:15:28.225>blockchain,

307
00:15:30.445 --> 00:15:32.285
<00:15:30.445>creating <00:15:30.725>a <00:15:31.005>new <00:15:31.285>form <00:15:31.565>of <00:15:31.845>internet.

308
00:15:33.385 --> 00:15:35.085
<00:15:33.385>So <00:15:33.851>with <00:15:34.318>this <00:15:34.785>concept

309
00:15:35.585 --> 00:15:38.445
<00:15:35.585>and <00:15:35.785>with <00:15:35.985>this <00:15:36.185>big <00:15:36.385>power <00:15:36.585>of <00:15:36.785>the <00:15:36.985>blockchain

310
00:15:38.995 --> 00:15:40.365
<00:15:38.995>with <00:15:39.406>a <00:15:39.817>stable <00:15:40.228>protocol

311
00:15:40.505 --> 00:15:43.725
<00:15:40.505>and <00:15:40.680>massive <00:15:40.855>scaling, <00:15:41.030>what <00:15:41.205>are <00:15:41.380>we <00:15:41.555>seeing <00:15:41.730>that <00:15:41.905>enterprises

312
00:15:43.825 --> 00:15:47.285
<00:15:43.825>as <00:15:44.000>well <00:15:44.175>as <00:15:44.350>particular <00:15:44.525>developers <00:15:44.700>can <00:15:44.875>build <00:15:45.050>on <00:15:45.225>the

313
00:15:47.285 --> 00:15:48.365
<00:15:47.285>Bitcoin <00:15:48.257>protocol?

314
00:15:49.745 --> 00:15:53.605
<00:15:49.745>So <00:15:49.900>an <00:15:50.056>example <00:15:50.211>which <00:15:50.367>developers <00:15:50.522>will <00:15:50.678>appreciate <00:15:50.833>is <00:15:50.989>a <00:15:51.145>company

315
00:15:53.605 --> 00:15:57.605
<00:15:53.605>called <00:15:53.780>Coda <00:15:53.955>with <00:15:54.130>some <00:15:54.305>young <00:15:54.480>entrepreneurs <00:15:54.655>out <00:15:54.830>of <00:15:55.005>Australia,

316
00:15:57.955 --> 00:15:59.805
<00:15:57.955>they <00:15:58.305>want <00:15:58.655>a <00:15:59.005>second <00:15:59.355>hackathon.

317
00:15:59.865 --> 00:16:01.445
<00:15:59.865>We <00:16:00.098>ran <00:16:00.331>in <00:16:00.565>the <00:16:00.798>Bitcoin <00:16:01.031>SV <00:16:01.265>world

318
00:16:01.865 --> 00:16:06.005
<00:16:01.865>and <00:16:02.065>what <00:16:02.265>they've <00:16:02.465>created <00:16:02.665>is <00:16:02.865>an <00:16:03.065>API <00:16:03.265>marketplace

319
00:16:06.265 --> 00:16:09.565
<00:16:06.265>for <00:16:06.420>developers, <00:16:06.576>because <00:16:06.731>it's <00:16:06.887>hard <00:16:07.042>if <00:16:07.198>you're <00:16:07.353>a <00:16:07.509>developer <00:16:07.665>when

320
00:16:09.565 --> 00:16:11.285
<00:16:09.565>you <00:16:09.845>create, <00:16:10.125>you <00:16:10.405>know, <00:16:10.685>something <00:16:10.965>unique

321
00:16:11.305 --> 00:16:14.205
<00:16:11.305>and <00:16:11.479>a <00:16:11.655>software <00:16:11.829>application, <00:16:12.005>it's <00:16:12.180>hard <00:16:12.354>to <00:16:12.530>monetize <00:16:12.704>it.

322
00:16:14.345 --> 00:16:16.085
<00:16:14.345>People <00:16:14.695>put <00:16:15.045>things <00:16:15.395>on <00:16:15.745>GitHub

323
00:16:16.185 --> 00:16:19.005
<00:16:16.185>and <00:16:16.340>uh, <00:16:16.496>allow <00:16:16.651>other <00:16:16.807>developers <00:16:16.962>to <00:16:17.118>use <00:16:17.273>it <00:16:17.429>for <00:16:17.584>free.

324
00:16:19.465 --> 00:16:22.285
<00:16:19.465>But <00:16:19.620>what <00:16:19.776>if <00:16:19.931>you <00:16:20.087>could <00:16:20.242>get <00:16:20.398>rewarded <00:16:20.553>for <00:16:20.709>your <00:16:20.865>work?

325
00:16:22.785 --> 00:16:25.845
<00:16:22.785>So <00:16:22.940>Coda <00:16:23.096>has <00:16:23.251>created <00:16:23.407>a <00:16:23.562>marketplace <00:16:23.718>where <00:16:23.873>as <00:16:24.029>a <00:16:24.185>developer,

326
00:16:25.865 --> 00:16:27.245
<00:16:25.865>you <00:16:26.175>can <00:16:26.486>upload <00:16:26.796>your <00:16:27.107>work

327
00:16:27.865 --> 00:16:32.605
<00:16:27.865>and <00:16:28.098>charge <00:16:28.331>other <00:16:28.565>people, <00:16:28.798>developers, <00:16:29.031>companies, <00:16:29.265>businesses

328
00:16:32.605 --> 00:16:35.405
<00:16:32.605>around <00:16:32.805>the <00:16:33.005>world <00:16:33.205>to <00:16:33.405>use <00:16:33.605>your <00:16:33.805>work <00:16:34.005>product

329
00:16:35.865 --> 00:16:39.085
<00:16:35.865>by <00:16:36.020>paying <00:16:36.176>you <00:16:36.331>small <00:16:36.487>amounts <00:16:36.642>of <00:16:36.798>Bitcoin <00:16:36.953>sv <00:16:37.109>for <00:16:37.265>example,

330
00:16:39.105 --> 00:16:40.485
<00:16:39.105>for <00:16:39.519>every <00:16:39.933>API <00:16:40.347>call

331
00:16:40.705 --> 00:16:43.805
<00:16:40.705>or <00:16:40.880>every <00:16:41.055>set <00:16:41.230>number <00:16:41.405>of <00:16:41.580>API <00:16:41.755>calls, <00:16:41.930>whatever <00:16:42.105>business

332
00:16:43.805 --> 00:16:46.645
<00:16:43.805>or <00:16:43.960>revenue <00:16:44.116>model <00:16:44.271>you <00:16:44.427>want <00:16:44.582>to <00:16:44.738>set, <00:16:44.893>which <00:16:45.049>is <00:16:45.204>possible

333
00:16:46.645 --> 00:16:50.085
<00:16:46.645>because <00:16:46.845>of <00:16:47.045>the <00:16:47.245>tiny, <00:16:47.444>tiny <00:16:47.645>transaction <00:16:47.845>fees, <00:16:48.045>um,

334
00:16:50.155 --> 00:16:53.965
<00:16:50.155>that <00:16:50.295>it <00:16:50.435>costs <00:16:50.574>to <00:16:50.714>send <00:16:50.855>and <00:16:50.995>engage <00:16:51.135>in <00:16:51.275>transactions <00:16:51.415>on <00:16:51.555>Bitcoin.

335
00:16:54.385 --> 00:16:58.405
<00:16:54.385>Sv <00:16:54.525>another <00:16:54.665>good <00:16:54.805>example <00:16:54.944>is <00:16:55.085>a <00:16:55.225>company <00:16:55.365>out <00:16:55.505>of <00:16:55.645>South <00:16:55.785>Korea.

336
00:16:59.065 --> 00:17:02.405
<00:16:59.065>Um, <00:16:59.240>a <00:16:59.415>company <00:16:59.590>called <00:16:59.765>One <00:16:59.940>Store, <00:17:00.115>which <00:17:00.290>runs <00:17:00.465>one

337
00:17:02.405 --> 00:17:05.805
<00:17:02.405>of <00:17:02.579>the <00:17:02.755>largest <00:17:02.930>mobile <00:17:03.105>app <00:17:03.280>stores <00:17:03.454>in <00:17:03.630>South <00:17:03.805>Korea.

338
00:17:06.505 --> 00:17:07.605
<00:17:06.505>Uh, <00:17:06.752>one <00:17:07.000>of <00:17:07.247>its, <00:17:07.495>uh,

339
00:17:07.775 --> 00:17:10.525
<00:17:07.775>executives <00:17:07.975>is <00:17:08.175>a <00:17:08.375>big <00:17:08.575>believer <00:17:08.775>in <00:17:08.975>Bitcoin <00:17:09.175>sv,

340
00:17:10.525 --> 00:17:12.685
<00:17:10.525>and <00:17:10.725>they <00:17:10.925>created <00:17:11.125>a <00:17:11.325>mobile <00:17:11.525>app <00:17:11.725>called <00:17:11.925>BusCon,

341
00:17:12.895 --> 00:17:16.165
<00:17:12.895>which <00:17:13.050>allows <00:17:13.206>music <00:17:13.361>artists <00:17:13.517>to <00:17:13.672>be <00:17:13.828>able <00:17:13.983>to <00:17:14.139>be <00:17:14.295>rewarded

342
00:17:16.185 --> 00:17:18.485
<00:17:16.185>for <00:17:16.464>their <00:17:16.744>work <00:17:17.024>as <00:17:17.304>a <00:17:17.585>fan.

343
00:17:19.385 --> 00:17:24.085
<00:17:19.385>You <00:17:19.540>can <00:17:19.696>download <00:17:19.851>the <00:17:20.007>mobile <00:17:20.162>app, <00:17:20.318>you <00:17:20.473>can <00:17:20.629>view <00:17:20.785>access,

344
00:17:24.105 --> 00:17:25.685
<00:17:24.105>listen <00:17:24.571>to <00:17:25.038>content <00:17:25.505>such

345
00:17:25.685 --> 00:17:28.565
<00:17:25.685>as <00:17:25.840>music <00:17:25.996>videos <00:17:26.151>from <00:17:26.307>your <00:17:26.462>music <00:17:26.618>artists <00:17:26.773>that <00:17:26.929>you <00:17:27.085>like,

346
00:17:28.905 --> 00:17:32.245
<00:17:28.905>and <00:17:29.032>then <00:17:29.159>reward <00:17:29.286>the <00:17:29.414>music <00:17:29.541>artist <00:17:29.668>in <00:17:29.795>a <00:17:29.923>token <00:17:30.050>called <00:17:30.177>the <00:17:30.305>Touch

347
00:17:32.255 --> 00:17:34.525
<00:17:32.255>Token <00:17:32.488>that <00:17:32.721>is <00:17:32.955>built <00:17:33.188>on <00:17:33.421>Bitcoin <00:17:33.655>sv

348
00:17:34.705 --> 00:17:38.045
<00:17:34.705>and <00:17:34.879>then <00:17:35.054>the <00:17:35.230>artist <00:17:35.405>gets <00:17:35.580>paid <00:17:35.754>in <00:17:35.929>small <00:17:36.105>amounts

349
00:17:38.145 --> 00:17:39.845
<00:17:38.145>of <00:17:38.611>Bitcoin <00:17:39.078>SV <00:17:39.545>tokens.

350
00:17:40.795 --> 00:17:45.125
<00:17:40.795>This <00:17:40.970>has <00:17:41.145>led <00:17:41.320>as <00:17:41.495>examples <00:17:41.670>to <00:17:41.845>a <00:17:42.020>bright <00:17:42.195>world

351
00:17:45.505 --> 00:17:48.285
<00:17:45.505>of <00:17:45.855>Bitcoin <00:17:46.205>SV <00:17:46.555>development <00:17:46.905>development

352
00:17:48.285 --> 00:17:49.445
<00:17:48.285>happening <00:17:48.633>across <00:17:48.981>the <00:17:49.329>world.

353
00:17:49.945 --> 00:17:53.445
<00:17:49.945>Um, <00:17:50.085>someone <00:17:50.225>in <00:17:50.365>Korea <00:17:50.504>actually <00:17:50.645>keeps <00:17:50.784>a <00:17:50.925>chart <00:17:51.064>of <00:17:51.205>the <00:17:51.345>known

354
00:17:54.045 --> 00:17:57.245
<00:17:54.045>companies <00:17:54.245>services <00:17:54.445>projects <00:17:54.645>that <00:17:54.845>are <00:17:55.045>on <00:17:55.245>Bitcoin <00:17:55.445>sv.

355
00:17:57.245 --> 00:17:59.525
<00:17:57.245>And <00:17:57.419>right <00:17:57.594>now <00:17:57.770>there's <00:17:57.945>over <00:17:58.120>400 <00:17:58.294>that <00:17:58.469>are <00:17:58.645>known.

356
00:17:59.585 --> 00:18:02.565
<00:17:59.585>I'm <00:17:59.725>sure <00:17:59.865>there's <00:18:00.005>even <00:18:00.145>far <00:18:00.285>more <00:18:00.425>you <00:18:00.565>could <00:18:00.705>see <00:18:00.845>here, <00:18:00.985>um,

357
00:18:02.725 --> 00:18:04.445
<00:18:02.725>a <00:18:03.004>chart <00:18:03.284>with <00:18:03.564>companies <00:18:03.844>and <00:18:04.125>services.

358
00:18:04.985 --> 00:18:06.245
<00:18:04.985>We <00:18:05.147>won't <00:18:05.309>have <00:18:05.471>to <00:18:05.632>talk <00:18:05.794>about <00:18:05.956>them <00:18:06.119>all,

359
00:18:06.245 --> 00:18:08.005
<00:18:06.245>but <00:18:06.524>it <00:18:06.804>shows <00:18:07.084>you <00:18:07.364>the <00:18:07.645>number

360
00:18:08.005 --> 00:18:09.325
<00:18:08.005>that's <00:18:08.302>happening <00:18:08.599>around <00:18:08.896>the <00:18:09.193>world.

361
00:18:09.555 --> 00:18:11.685
<00:18:09.555>There's <00:18:09.905>also <00:18:10.255>resources <00:18:10.605>for <00:18:10.955>developers

362
00:18:11.705 --> 00:18:12.925
<00:18:11.705>as <00:18:11.924>Steve <00:18:12.144>will <00:18:12.363>tell <00:18:12.583>you <00:18:12.803>about.

363
00:18:13.305 --> 00:18:16.005
<00:18:13.305>And <00:18:13.505>then <00:18:13.705>also <00:18:13.905>people <00:18:14.105>are <00:18:14.305>creating <00:18:14.505>protocol <00:18:14.705>layers

364
00:18:16.545 --> 00:18:19.525
<00:18:16.545>to <00:18:16.745>create <00:18:16.945>the <00:18:17.145>rule <00:18:17.345>sets <00:18:17.545>for <00:18:17.745>all <00:18:17.945>kinds

365
00:18:19.525 --> 00:18:22.125
<00:18:19.525>of <00:18:19.725>different <00:18:19.925>functionality <00:18:20.125>from <00:18:20.325>smart <00:18:20.525>contracts <00:18:20.725>to <00:18:20.925>tokens.

366
00:18:22.425 --> 00:18:25.165
<00:18:22.425>And <00:18:22.658>it's <00:18:22.891>really <00:18:23.125>expanding <00:18:23.358>what <00:18:23.591>is <00:18:23.825>capable

367
00:18:25.585 --> 00:18:27.045
<00:18:25.585>of <00:18:25.913>being <00:18:26.242>done <00:18:26.570>on <00:18:26.899>Bitcoin.

368
00:18:27.345 --> 00:18:31.085
<00:18:27.345>Sv, <00:18:27.500>uh, <00:18:27.656>a <00:18:27.811>company <00:18:27.967>out <00:18:28.122>of <00:18:28.278>Spain <00:18:28.433>called <00:18:28.589>Hand <00:18:28.745>Cash,

369
00:18:31.085 --> 00:18:34.085
<00:18:31.085>which <00:18:31.212>runs <00:18:31.339>one <00:18:31.466>of <00:18:31.594>the <00:18:31.721>most <00:18:31.848>popular <00:18:31.975>wallets <00:18:32.103>in <00:18:32.230>the <00:18:32.357>Bitcoin <00:18:32.485>SV

370
00:18:34.085 --> 00:18:36.445
<00:18:34.085>world, <00:18:34.365>has <00:18:34.645>created <00:18:34.925>Hand <00:18:35.205>cash <00:18:35.485>connect.

371
00:18:36.595 --> 00:18:40.925
<00:18:36.595>It's <00:18:36.735>an <00:18:36.875>SDK, <00:18:37.015>which <00:18:37.155>contains <00:18:37.295>tool <00:18:37.435>sets <00:18:37.575>you <00:18:37.715>could <00:18:37.855>see <00:18:37.995>here

372
00:18:40.945 --> 00:18:44.645
<00:18:40.945>of <00:18:41.178>six <00:18:41.411>main <00:18:41.645>functions, <00:18:41.878>instant <00:18:42.111>payments, <00:18:42.345>encryption,

373
00:18:45.085 --> 00:18:47.805
<00:18:45.085>identity, <00:18:45.260>and <00:18:45.435>login <00:18:45.610>as <00:18:45.785>examples <00:18:45.960>to <00:18:46.135>make <00:18:46.310>it <00:18:46.485>easy

374
00:18:47.865 --> 00:18:49.365
<00:18:47.865>for <00:18:48.315>developers <00:18:48.765>and <00:18:49.215>businesses

375
00:18:49.505 --> 00:18:52.885
<00:18:49.505>to <00:18:49.705>integrate <00:18:49.905>Bitcoin <00:18:50.105>SB <00:18:50.305>payments <00:18:50.505>into <00:18:50.705>any <00:18:50.905>application,

376
00:18:52.885 --> 00:18:56.605
<00:18:52.885>whether <00:18:53.060>it <00:18:53.235>be <00:18:53.410>a <00:18:53.585>web-based <00:18:53.760>mobile <00:18:53.935>application, <00:18:54.110>even, <00:18:54.285>um,

377
00:18:56.945 --> 00:18:58.325
<00:18:56.945>uh, <00:18:57.566>smart <00:18:58.187>devices.

378
00:18:58.745 --> 00:19:01.325
<00:18:58.745>So <00:18:58.872>these <00:18:58.999>are <00:18:59.126>the <00:18:59.254>things <00:18:59.381>that <00:18:59.508>are <00:18:59.635>available <00:18:59.763>to <00:18:59.890>make <00:19:00.017>it <00:19:00.145>easier

379
00:19:01.585 --> 00:19:03.125
<00:19:01.585>for <00:19:01.931>you <00:19:02.278>as <00:19:02.624>a <00:19:02.971>developer

380
00:19:03.145 --> 00:19:07.045
<00:19:03.145>to <00:19:03.300>start <00:19:03.456>integrating <00:19:03.611>Bitcoin <00:19:03.767>SV <00:19:03.922>into <00:19:04.078>almost <00:19:04.233>anything <00:19:04.389>you <00:19:04.545>can

381
00:19:07.045 --> 00:19:09.205
<00:19:07.045>imagine <00:19:07.745>recently, <00:19:08.445>max.

382
00:19:09.205 --> 00:19:13.405
<00:19:09.205>Then, <00:19:09.345>um, <00:19:09.485>which <00:19:09.625>is <00:19:09.764>a, <00:19:09.905>uh, <00:19:10.044>company <00:19:10.185>that <00:19:10.324>provides <00:19:10.465>a <00:19:10.605>browser,

383
00:19:13.455 --> 00:19:15.885
<00:19:13.455>which <00:19:13.582>is <00:19:13.709>one <00:19:13.836>of <00:19:13.964>the <00:19:14.091>most <00:19:14.218>popular <00:19:14.345>in <00:19:14.473>the <00:19:14.600>world <00:19:14.727>in <00:19:14.855>certain

384
00:19:15.955 --> 00:19:20.165
<00:19:15.955>regions, <00:19:16.155>with <00:19:16.355>over <00:19:16.554>670 <00:19:16.754>million <00:19:16.955>people <00:19:17.155>having <00:19:17.355>downloaded

385
00:19:20.305 --> 00:19:24.005
<00:19:20.305>as <00:19:20.480>their <00:19:20.655>default <00:19:20.830>browser, <00:19:21.005>they <00:19:21.180>announced <00:19:21.355>the <00:19:21.530>beta <00:19:21.705>launch

386
00:19:24.225 --> 00:19:27.485
<00:19:24.225>of <00:19:24.380>a <00:19:24.536>new <00:19:24.691>version <00:19:24.847>of <00:19:25.002>their <00:19:25.158>browser <00:19:25.313>called <00:19:25.469>Maxin <00:19:25.625>six,

387
00:19:28.465 --> 00:19:32.645
<00:19:28.465>and <00:19:28.639>it <00:19:28.814>is <00:19:28.990>the <00:19:29.165>first <00:19:29.340>Bitcoin <00:19:29.514>SV <00:19:29.689>powered <00:19:29.865>browser.

388
00:19:33.155 --> 00:19:35.005
<00:19:33.155>What <00:19:33.355>does <00:19:33.555>that <00:19:33.754>mean? <00:19:33.955>They're <00:19:34.155>building <00:19:34.355>a <00:19:34.555>browser

389
00:19:35.465 --> 00:19:39.045
<00:19:35.465>for <00:19:35.639>this <00:19:35.814>meta <00:19:35.990>net <00:19:36.165>world <00:19:36.340>I <00:19:36.514>mentioned <00:19:36.689>where <00:19:36.865>applications

390
00:19:39.465 --> 00:19:43.085
<00:19:39.465>and <00:19:39.620>online <00:19:39.776>activity <00:19:39.931>are <00:19:40.087>driven <00:19:40.242>by <00:19:40.398>the <00:19:40.553>Bitcoin <00:19:40.709>SV <00:19:40.865>blockchain.

391
00:19:43.145 --> 00:19:45.645
<00:19:43.145>So <00:19:43.300>in <00:19:43.456>the <00:19:43.611>future, <00:19:43.767>the <00:19:43.922>browser <00:19:44.078>will <00:19:44.233>integrate <00:19:44.389>very <00:19:44.545>easily

392
00:19:46.075 --> 00:19:47.485
<00:19:46.075>with <00:19:46.709>BSV <00:19:47.343>applications

393
00:19:47.825 --> 00:19:50.525
<00:19:47.825>and <00:19:47.980>you'll <00:19:48.136>see <00:19:48.291>here, <00:19:48.447>uh, <00:19:48.602>a <00:19:48.758>variety <00:19:48.913>of <00:19:49.069>the <00:19:49.225>things

394
00:19:50.555 --> 00:19:53.045
<00:19:50.555>that <00:19:50.905>they're, <00:19:51.255>uh, <00:19:51.605>already <00:19:51.955>releasing.

395
00:19:53.305 --> 00:19:54.765
<00:19:53.305>On <00:19:53.492>the <00:19:53.680>top <00:19:53.868>right <00:19:54.055>corner <00:19:54.243>of <00:19:54.431>the <00:19:54.619>screen,

396
00:19:54.765 --> 00:19:58.645
<00:19:54.765>you <00:19:54.965>see <00:19:55.165>something <00:19:55.365>called <00:19:55.565>blockchain <00:19:55.765>ID <00:19:55.965>Manager <00:19:56.165>vbox.

397
00:19:59.435 --> 00:20:03.605
<00:19:59.435>This <00:19:59.562>is <00:19:59.689>a <00:19:59.816>tool <00:19:59.944>system <00:20:00.071>to <00:20:00.198>allow <00:20:00.325>you <00:20:00.453>as <00:20:00.580>a <00:20:00.707>user <00:20:00.835>to

398
00:20:04.285 --> 00:20:07.325
<00:20:04.285>maintain <00:20:04.518>your <00:20:04.751>identity <00:20:04.985>information <00:20:05.218>on <00:20:05.451>the <00:20:05.685>blockchain

399
00:20:07.505 --> 00:20:08.965
<00:20:07.505>so <00:20:07.943>it's <00:20:08.381>never <00:20:08.819>deleted,

400
00:20:09.465 --> 00:20:12.725
<00:20:09.465>and <00:20:09.620>allow <00:20:09.776>you <00:20:09.931>to <00:20:10.087>log <00:20:10.242>into <00:20:10.398>applications <00:20:10.553>across <00:20:10.709>the <00:20:10.865>internet

401
00:20:12.725 --> 00:20:15.285
<00:20:12.725>from <00:20:13.004>a <00:20:13.284>single <00:20:13.564>identity <00:20:13.844>data <00:20:14.125>source.

402
00:20:15.785 --> 00:20:17.645
<00:20:15.785>So <00:20:16.065>you <00:20:16.345>don't <00:20:16.625>need, <00:20:16.905>for <00:20:17.185>example,

403
00:20:17.985 --> 00:20:20.565
<00:20:17.985>to <00:20:18.264>log <00:20:18.544>into <00:20:18.824>applications <00:20:19.104>using <00:20:19.385>Google

404
00:20:20.905 --> 00:20:23.045
<00:20:20.905>or <00:20:21.080>Facebook, <00:20:21.254>as <00:20:21.430>a <00:20:21.605>lot <00:20:21.780>of <00:20:21.955>people <00:20:22.129>do <00:20:22.305>today.

405
00:20:23.465 --> 00:20:25.565
<00:20:23.465>You <00:20:23.620>can <00:20:23.776>have <00:20:23.931>all <00:20:24.087>of <00:20:24.242>your <00:20:24.398>identity <00:20:24.553>stored <00:20:24.709>in <00:20:24.865>one

406
00:20:25.565 --> 00:20:26.845
<00:20:25.565>place <00:20:25.949>on <00:20:26.333>the <00:20:26.717>blockchain.

407
00:20:27.065 --> 00:20:28.805
<00:20:27.065>And <00:20:27.345>the <00:20:27.625>browser <00:20:27.905>here <00:20:28.185>is <00:20:28.465>designed

408
00:20:28.825 --> 00:20:30.565
<00:20:28.825>to <00:20:29.175>specifically <00:20:29.525>make <00:20:29.875>it <00:20:30.225>easier

409
00:20:30.785 --> 00:20:34.605
<00:20:30.785>to <00:20:30.940>log <00:20:31.096>into <00:20:31.251>applications <00:20:31.407>across <00:20:31.562>this <00:20:31.718>new <00:20:31.873>meta <00:20:32.029>net <00:20:32.185>world

410
00:20:34.895 --> 00:20:38.365
<00:20:34.895>using <00:20:35.245>a <00:20:35.595>uh, <00:20:35.945>ID <00:20:36.295>system

411
00:20:38.635 --> 00:20:40.685
<00:20:38.635>that <00:20:38.915>is <00:20:39.195>managed <00:20:39.475>on <00:20:39.754>the <00:20:40.035>blockchain.

412
00:20:41.185 --> 00:20:43.165
<00:20:41.185>Um, <00:20:41.465>they're <00:20:41.745>also <00:20:42.024>creating <00:20:42.304>a <00:20:42.585>browser

413
00:20:43.235 --> 00:20:45.045
<00:20:43.235>that <00:20:43.584>will <00:20:43.935>allow <00:20:44.284>e-commerce <00:20:44.635>sites.

414
00:20:45.195 --> 00:20:47.285
<00:20:45.195>When <00:20:45.475>you're <00:20:45.754>shopping <00:20:46.034>to <00:20:46.314>easily <00:20:46.595>integrate

415
00:20:47.675 --> 00:20:50.645
<00:20:47.675>with <00:20:47.850>your <00:20:48.024>Bitcoin <00:20:48.200>SV <00:20:48.375>wallets, <00:20:48.550>you <00:20:48.725>can <00:20:48.899>easily <00:20:49.075>pay

416
00:20:50.645 --> 00:20:52.845
<00:20:50.645>as <00:20:50.800>you <00:20:50.956>see <00:20:51.111>in <00:20:51.267>this <00:20:51.422>example <00:20:51.578>on <00:20:51.733>the <00:20:51.889>right <00:20:52.045>side

417
00:20:53.035 --> 00:20:57.005
<00:20:53.035>with <00:20:53.210>both <00:20:53.385>your <00:20:53.560>identity <00:20:53.735>and <00:20:53.910>Bitcoin <00:20:54.085>from <00:20:54.260>a <00:20:54.435>wallet.

418
00:20:59.345 --> 00:21:01.205
<00:20:59.345>So <00:20:59.695>Jeff <00:21:00.045>Chen <00:21:00.395>from <00:21:00.745>Max

419
00:21:01.205 --> 00:21:03.365
<00:21:01.205>and <00:21:01.438>who's <00:21:01.671>the <00:21:01.905>CEO <00:21:02.138>summarized <00:21:02.371>very <00:21:02.605>well.

420
00:21:03.495 --> 00:21:06.685
<00:21:03.495>While <00:21:03.650>we <00:21:03.806>believe <00:21:03.961>so <00:21:04.117>much <00:21:04.272>in <00:21:04.428>Bitcoin <00:21:04.583>SV <00:21:04.739>for <00:21:04.895>development,

421
00:21:07.185 --> 00:21:09.005
<00:21:07.185>he <00:21:07.418>said, <00:21:07.651>we <00:21:07.885>want <00:21:08.118>the <00:21:08.351>Maxon <00:21:08.585>browser

422
00:21:09.145 --> 00:21:11.325
<00:21:09.145>to <00:21:09.425>be <00:21:09.705>the <00:21:09.985>online <00:21:10.264>application <00:21:10.545>platform

423
00:21:11.625 --> 00:21:14.845
<00:21:11.625>and <00:21:11.780>user's <00:21:11.936>window <00:21:12.091>to <00:21:12.247>the <00:21:12.402>exciting <00:21:12.558>world <00:21:12.713>of <00:21:12.869>Bitcoin <00:21:13.025>SV

424
00:21:15.725 --> 00:21:17.085
<00:21:15.725>combined <00:21:16.133>with <00:21:16.541>the <00:21:16.949>internet.

425
00:21:17.585 --> 00:21:19.085
<00:21:17.585>Our <00:21:17.777>goal <00:21:17.970>is <00:21:18.163>to <00:21:18.356>make <00:21:18.549>it <00:21:18.742>so <00:21:18.935>easy

426
00:21:19.185 --> 00:21:21.525
<00:21:19.185>and <00:21:19.465>seamless <00:21:19.745>to <00:21:20.024>use <00:21:20.304>BSV <00:21:20.585>applications

427
00:21:21.525 --> 00:21:23.885
<00:21:21.525>that <00:21:21.725>users <00:21:21.925>do <00:21:22.125>not <00:21:22.325>even <00:21:22.525>need <00:21:22.725>to <00:21:22.925>know

428
00:21:24.235 --> 00:21:26.525
<00:21:24.235>that <00:21:24.468>BSV <00:21:24.701>is <00:21:24.935>involved <00:21:25.168>in <00:21:25.401>the <00:21:25.635>background.

429
00:21:27.285 --> 00:21:29.285
<00:21:27.285>Consumers <00:21:27.565>will <00:21:27.845>just <00:21:28.125>know <00:21:28.405>that <00:21:28.685>using

430
00:21:29.465 --> 00:21:32.605
<00:21:29.465>and <00:21:29.665>earning <00:21:29.865>electronic <00:21:30.064>cash <00:21:30.264>from <00:21:30.465>their <00:21:30.665>online <00:21:30.865>content

431
00:21:33.195 --> 00:21:34.725
<00:21:33.195>data <00:21:34.572>interactions

432
00:21:35.025 --> 00:21:38.085
<00:21:35.025>and <00:21:35.200>activities, <00:21:35.375>this <00:21:35.550>is <00:21:35.725>the <00:21:35.900>future <00:21:36.075>of <00:21:36.250>the <00:21:36.425>internet

433
00:21:38.105 --> 00:21:42.205
<00:21:38.105>and <00:21:38.260>why <00:21:38.416>we <00:21:38.571>believe <00:21:38.727>in <00:21:38.882>Bitcoin <00:21:39.038>SV <00:21:39.193>that <00:21:39.349>summarizes <00:21:39.505>well,

434
00:21:42.435 --> 00:21:43.845
<00:21:42.435>what <00:21:42.688>we <00:21:42.942>think <00:21:43.196>is <00:21:43.450>the <00:21:43.704>future.

435
00:21:44.225 --> 00:21:45.845
<00:21:44.225>And <00:21:44.399>what <00:21:44.574>Steve <00:21:44.750>will <00:21:44.925>talk <00:21:45.100>to <00:21:45.274>you <00:21:45.449>about <00:21:45.625>next.

436
00:21:46.435 --> 00:21:49.405
<00:21:46.435>Bitcoin <00:21:46.635>is <00:21:46.835>more <00:21:47.034>than <00:21:47.235>just <00:21:47.435>a <00:21:47.635>payment <00:21:47.835>system.

437
00:21:50.065 --> 00:21:53.845
<00:21:50.065>It <00:21:50.265>is <00:21:50.465>technology <00:21:50.665>plumbing <00:21:50.865>that <00:21:51.065>may <00:21:51.265>sound <00:21:51.465>boring,

438
00:21:54.185 --> 00:21:57.125
<00:21:54.185>but <00:21:54.418>it <00:21:54.651>is <00:21:54.885>the <00:21:55.118>plumbing, <00:21:55.351>the <00:21:55.585>infrastructure,

439
00:21:57.195 --> 00:21:58.845
<00:21:57.195>just <00:21:57.475>like <00:21:57.754>the <00:21:58.034>internet <00:21:58.314>protocol <00:21:58.595>is

440
00:21:58.845 --> 00:22:02.765
<00:21:58.845>that <00:21:59.020>drove <00:21:59.195>internet <00:21:59.370>growth <00:21:59.545>that <00:21:59.720>will <00:21:59.895>allow <00:22:00.070>the <00:22:00.245>creation

441
00:22:02.905 --> 00:22:06.325
<00:22:02.905>and <00:22:03.138>development <00:22:03.371>of <00:22:03.605>many <00:22:03.838>fascinating <00:22:04.071>applications <00:22:04.305>so

442
00:22:06.325 --> 00:22:08.565
<00:22:06.325>that <00:22:06.675>in <00:22:07.025>the <00:22:07.375>future <00:22:07.725>consumers,

443
00:22:08.655 --> 00:22:10.885
<00:22:08.655>users <00:22:08.935>will <00:22:09.215>probably <00:22:09.495>not <00:22:09.774>even <00:22:10.055>know

444
00:22:11.275 --> 00:22:13.405
<00:22:11.275>that <00:22:11.508>things <00:22:11.741>they <00:22:11.975>are <00:22:12.208>using <00:22:12.441>are <00:22:12.675>built

445
00:22:13.465 --> 00:22:14.685
<00:22:13.465>on <00:22:13.831>the <00:22:14.197>Bitcoin <00:22:14.562>blockchain.

446
00:22:14.825 --> 00:22:17.525
<00:22:14.825>It <00:22:15.025>will <00:22:15.225>work <00:22:15.425>underneath <00:22:15.625>invisibly <00:22:15.825>to <00:22:16.025>power <00:22:16.225>world

447
00:22:17.585 --> 00:22:19.565
<00:22:17.585>of <00:22:18.285>data <00:22:18.985>microtransactions

448
00:22:19.945 --> 00:22:22.045
<00:22:19.945>and <00:22:20.178>all <00:22:20.411>of <00:22:20.645>our <00:22:20.878>future <00:22:21.111>online <00:22:21.345>activity.

449
00:22:22.345 --> 00:22:24.605
<00:22:22.345>So <00:22:22.500>I'm <00:22:22.656>gonna <00:22:22.811>turn <00:22:22.967>it <00:22:23.122>over <00:22:23.278>to <00:22:23.433>Steve <00:22:23.589>Shatters <00:22:23.745>now

450
00:22:24.905 --> 00:22:28.245
<00:22:24.905>to <00:22:25.045>tell <00:22:25.185>you <00:22:25.325>a <00:22:25.465>lot <00:22:25.605>about <00:22:25.745>what <00:22:25.885>developers <00:22:26.024>can <00:22:26.165>look <00:22:26.305>forward

451
00:22:28.245 --> 00:22:29.525
<00:22:28.245>to <00:22:28.629>using <00:22:29.013>on <00:22:29.397>Bitcoin.

452
00:22:35.825 --> 00:22:39.045
<00:22:35.825>Thanks, <00:22:36.025>Jimmy. <00:22:36.225>Just <00:22:36.425>let <00:22:36.625>me, <00:22:36.825>uh, <00:22:37.025>transition <00:22:37.225>the,

453
00:22:45.635 --> 00:22:45.925
Okay,

454
00:22:52.145 --> 00:22:55.325
<00:22:52.145>Uh, <00:22:52.345>everybody, <00:22:52.545>do <00:22:52.745>I <00:22:52.945>have <00:22:53.145>the <00:22:53.345>right, <00:22:53.545>uh,

455
00:22:55.705 --> 00:22:57.405
<00:22:55.705>screen <00:22:56.054>on <00:22:56.405>the <00:22:56.754>right <00:22:57.105>screen?

456
00:22:57.765 --> 00:23:00.365
<00:22:57.765>I <00:22:57.881>hope <00:22:57.998>so. <00:22:58.115>Someone <00:22:58.231>will <00:22:58.348>tell <00:22:58.465>me <00:22:58.581>in <00:22:58.698>a <00:22:58.815>moment <00:22:58.931>if <00:22:59.048>I <00:22:59.165>don't.

457
00:23:01.745 --> 00:23:05.885
<00:23:01.745>Um, <00:23:01.852>so <00:23:01.960>here <00:23:02.068>I <00:23:02.175>want <00:23:02.283>to <00:23:02.391>talk <00:23:02.498>to <00:23:02.606>you <00:23:02.714>a <00:23:02.821>bit <00:23:02.929>about, <00:23:03.037>uh, <00:23:03.145>some

458
00:23:05.885 --> 00:23:08.645
<00:23:05.885>of <00:23:06.040>the <00:23:06.196>things <00:23:06.351>that <00:23:06.507>are <00:23:06.662>possible <00:23:06.818>on <00:23:06.973>Bitcoin <00:23:07.129>sv, <00:23:07.285>um,

459
00:23:08.835 --> 00:23:11.365
<00:23:08.835>that <00:23:09.010>don't <00:23:09.185>really <00:23:09.360>fit <00:23:09.535>the <00:23:09.710>narrative <00:23:09.885>of, <00:23:10.060>uh, <00:23:10.235>of

460
00:23:11.365 --> 00:23:12.405
<00:23:11.365>what <00:23:11.833>you <00:23:12.301>could

461
00:23:12.665 --> 00:23:15.765
<00:23:12.665>or <00:23:12.820>should <00:23:12.976>be <00:23:13.131>able <00:23:13.287>to <00:23:13.442>do, <00:23:13.598>uh, <00:23:13.753>with <00:23:13.909>a <00:23:14.065>blockchain.

462
00:23:16.345 --> 00:23:18.485
<00:23:16.345>Um, <00:23:16.520>just <00:23:16.695>a <00:23:16.870>moment. <00:23:17.045>I'm <00:23:17.220>told <00:23:17.395>I've <00:23:17.570>got <00:23:17.745>my

463
00:23:19.275 --> 00:23:20.445
<00:23:19.275>screens <00:23:19.538>around <00:23:19.801>the <00:23:20.064>wrong <00:23:20.328>way.

464
00:23:22.265 --> 00:23:24.845
<00:23:22.265>You're <00:23:22.465>good <00:23:22.665>now, <00:23:22.865>Steve. <00:23:23.065>I'm <00:23:23.265>good <00:23:23.465>now. <00:23:23.665>Okay.

465
00:23:27.105 --> 00:23:30.245
<00:23:27.105>So, <00:23:27.245>um, <00:23:27.385>in <00:23:27.525>the, <00:23:27.665>in <00:23:27.805>the <00:23:27.945>very <00:23:28.085>beginning <00:23:28.225>of <00:23:28.365>Bitcoin, <00:23:28.505>um,

466
00:23:30.555 --> 00:23:33.325
<00:23:30.555>Satoshi <00:23:30.730>Nakamoto <00:23:30.905>designed <00:23:31.080>a <00:23:31.255>system <00:23:31.430>that <00:23:31.605>was <00:23:31.780>very <00:23:31.955>open

467
00:23:33.325 --> 00:23:35.045
<00:23:33.325>and <00:23:33.675>had <00:23:34.025>very <00:23:34.375>few <00:23:34.725>limitations.

468
00:23:35.505 --> 00:23:39.885
<00:23:35.505>Um, <00:23:35.621>you, <00:23:35.738>it <00:23:35.855>included <00:23:35.971>an <00:23:36.088>op <00:23:36.205>code <00:23:36.321>that <00:23:36.438>allowed <00:23:36.555>you <00:23:36.671>to <00:23:36.788>push <00:23:36.905>up

469
00:23:39.885 --> 00:23:42.965
<00:23:39.885>to <00:23:40.060>four <00:23:40.235>gigabytes <00:23:40.410>of <00:23:40.585>data, <00:23:40.760>um, <00:23:40.935>to, <00:23:41.110>uh, <00:23:41.285>to,

470
00:23:42.965 --> 00:23:44.845
<00:23:42.965>to <00:23:43.165>the <00:23:43.365>stack <00:23:43.564>in <00:23:43.764>a <00:23:43.965>single <00:23:44.165>Bitcoin <00:23:44.365>script.

471
00:23:45.345 --> 00:23:47.205
<00:23:45.345>In <00:23:45.500>fact, <00:23:45.656>you <00:23:45.811>could <00:23:45.967>use <00:23:46.122>that <00:23:46.278>off <00:23:46.433>code <00:23:46.589>many <00:23:46.745>times.

472
00:23:47.305 --> 00:23:49.525
<00:23:47.305>So <00:23:47.445>there <00:23:47.585>was <00:23:47.725>no <00:23:47.865>effective <00:23:48.005>limit <00:23:48.145>to <00:23:48.285>the <00:23:48.425>amount <00:23:48.565>of <00:23:48.705>data

473
00:23:49.525 --> 00:23:51.965
<00:23:49.525>that <00:23:49.725>you <00:23:49.925>put <00:23:50.125>into <00:23:50.325>a, <00:23:50.525>into <00:23:50.725>a <00:23:50.925>transaction.

474
00:23:52.625 --> 00:23:55.645
<00:23:52.625>Um, <00:23:52.752>he <00:23:52.879>made <00:23:53.006>it <00:23:53.134>very <00:23:53.261>clear <00:23:53.388>that <00:23:53.515>Bitcoin <00:23:53.643>was <00:23:53.770>intended <00:23:53.897>to <00:23:54.025>scale

475
00:23:55.705 --> 00:23:59.365
<00:23:55.705>and <00:23:55.832>that <00:23:55.959>the, <00:23:56.086>that <00:23:56.214>the <00:23:56.341>end <00:23:56.468>game <00:23:56.595>for, <00:23:56.723>um, <00:23:56.850>for <00:23:56.977>miners <00:23:57.105>was

476
00:23:59.365 --> 00:24:03.205
<00:23:59.365>to <00:23:59.505>be <00:23:59.645>operating <00:23:59.785>out <00:23:59.925>of, <00:24:00.065>out <00:24:00.205>of <00:24:00.345>large, <00:24:00.485>uh, <00:24:00.625>data <00:24:00.765>warehouses.

477
00:24:03.505 --> 00:24:07.245
<00:24:03.505>He <00:24:03.660>also <00:24:03.816>put <00:24:03.971>an <00:24:04.127>incredibly <00:24:04.282>rich, <00:24:04.438>uh, <00:24:04.593>scripting <00:24:04.749>language <00:24:04.905>into,

478
00:24:07.475 --> 00:24:09.685
<00:24:07.475>into <00:24:07.675>Bitcoin, <00:24:07.875>uh, <00:24:08.074>that <00:24:08.274>made <00:24:08.475>it <00:24:08.675>very <00:24:08.875>clear

479
00:24:09.685 --> 00:24:11.685
<00:24:09.685>that <00:24:09.918>Bitcoin <00:24:10.151>is <00:24:10.385>not <00:24:10.618>just <00:24:10.851>about <00:24:11.085>payments.

480
00:24:11.825 --> 00:24:14.925
<00:24:11.825>Uh, <00:24:12.000>bitcoin <00:24:12.175>is <00:24:12.350>about <00:24:12.525>anything <00:24:12.700>that <00:24:12.875>you <00:24:13.050>can <00:24:13.225>imagine.

481
00:24:15.345 --> 00:24:19.765
<00:24:15.345>Um, <00:24:15.461>that's, <00:24:15.578>uh, <00:24:15.695>that <00:24:15.811>is <00:24:15.928>possible <00:24:16.045>by, <00:24:16.161>by <00:24:16.278>using <00:24:16.395>a, <00:24:16.511>a, <00:24:16.628>a <00:24:16.745>tier

482
00:24:19.765 --> 00:24:22.045
<00:24:19.765>and <00:24:20.231>complete <00:24:20.698>programming <00:24:21.165>language.

483
00:24:22.705 --> 00:24:26.205
<00:24:22.705>Um, <00:24:22.845>but <00:24:22.985>for <00:24:23.125>a <00:24:23.264>long <00:24:23.405>time <00:24:23.544>that's <00:24:23.685>simply <00:24:23.824>not <00:24:23.965>been, <00:24:24.105>uh,

484
00:24:26.945 --> 00:24:28.165
<00:24:26.945>not <00:24:27.311>been <00:24:27.677>possible, <00:24:28.043>um,

485
00:24:28.315 --> 00:24:31.285
<00:24:28.315>because, <00:24:28.470>well, <00:24:28.626>to <00:24:28.781>be <00:24:28.937>honest, <00:24:29.092>a <00:24:29.248>bunch <00:24:29.403>of <00:24:29.559>people <00:24:29.715>decided

486
00:24:31.285 --> 00:24:33.685
<00:24:31.285>that <00:24:31.460>we <00:24:31.635>just <00:24:31.810>weren't <00:24:31.985>allowed, <00:24:32.160>uh, <00:24:32.335>to <00:24:32.510>do <00:24:32.685>that.

487
00:24:34.025 --> 00:24:38.525
<00:24:34.025>Um, <00:24:34.165>Bitcoin <00:24:34.305>SV <00:24:34.445>developers, <00:24:34.585>uh, <00:24:34.725>do <00:24:34.865>not <00:24:35.005>want <00:24:35.145>to <00:24:35.285>be, <00:24:35.425>uh,

488
00:24:38.865 --> 00:24:42.285
<00:24:38.865>the <00:24:39.020>guardians, <00:24:39.176>uh, <00:24:39.331>or <00:24:39.487>gatekeepers <00:24:39.642>that <00:24:39.798>say <00:24:39.953>what <00:24:40.109>you <00:24:40.265>can

489
00:24:42.285 --> 00:24:44.325
<00:24:42.285>and <00:24:42.635>can't <00:24:42.985>do <00:24:43.335>on <00:24:43.685>Bitcoin.

490
00:24:44.585 --> 00:24:47.525
<00:24:44.585>Um, <00:24:44.760>bitcoin <00:24:44.935>is, <00:24:45.110>uh, <00:24:45.285>is <00:24:45.460>a <00:24:45.635>free <00:24:45.810>market, <00:24:45.985>uh,

491
00:24:48.185 --> 00:24:51.605
<00:24:48.185>and <00:24:48.360>it <00:24:48.534>really <00:24:48.710>depends <00:24:48.885>on <00:24:49.060>what <00:24:49.235>makes <00:24:49.409>sense, <00:24:49.585>uh,

492
00:24:51.665 --> 00:24:53.885
<00:24:51.665>and <00:24:51.945>what <00:24:52.225>makes <00:24:52.504>sense, <00:24:52.784>uh, <00:24:53.065>economically,

493
00:24:53.885 --> 00:24:55.125
<00:24:53.885>what <00:24:54.164>makes <00:24:54.443>sense <00:24:54.722>in <00:24:55.001>terms

494
00:24:55.125 --> 00:24:57.045
<00:24:55.125>of <00:24:55.475>improving <00:24:55.825>people's <00:24:56.175>user <00:24:56.525>experience.

495
00:24:57.435 --> 00:25:01.005
<00:24:57.435>What <00:24:57.590>makes <00:24:57.746>sense <00:24:57.901>in <00:24:58.057>terms <00:24:58.212>of <00:24:58.368>improving <00:24:58.523>people's <00:24:58.679>lives, <00:24:58.835>uh,

496
00:25:01.105 --> 00:25:03.165
<00:25:01.105>is <00:25:01.305>what <00:25:01.505>will <00:25:01.705>govern <00:25:01.905>what, <00:25:02.105>uh, <00:25:02.305>what <00:25:02.505>can

497
00:25:03.165 --> 00:25:04.765
<00:25:03.165>and <00:25:03.445>can't <00:25:03.725>be <00:25:04.004>done <00:25:04.284>on <00:25:04.565>Bitcoin.

498
00:25:05.265 --> 00:25:08.125
<00:25:05.265>So <00:25:05.392>let's <00:25:05.519>step <00:25:05.646>into <00:25:05.774>a <00:25:05.901>few <00:25:06.028>of <00:25:06.155>the <00:25:06.283>things <00:25:06.410>that <00:25:06.537>are <00:25:06.665>possible,

499
00:25:08.305 --> 00:25:10.965
<00:25:08.305>uh, <00:25:08.480>on <00:25:08.655>Bitcoin <00:25:08.830>that, <00:25:09.005>uh, <00:25:09.180>that <00:25:09.355>don't <00:25:09.530>fit <00:25:09.705>the,

500
00:25:11.225 --> 00:25:12.725
<00:25:11.225>the <00:25:11.675>typical <00:25:12.125>blockchain <00:25:12.574>narrative.

501
00:25:13.625 --> 00:25:17.925
<00:25:13.625>Um, <00:25:13.752>so <00:25:13.879>today <00:25:14.006>we're <00:25:14.134>gonna <00:25:14.261>talk <00:25:14.388>about, <00:25:14.515>um, <00:25:14.643>uh, <00:25:14.770>the <00:25:14.897>three <00:25:15.025>bigs,

502
00:25:18.065 --> 00:25:20.725
<00:25:18.065>uh, <00:25:18.265>big <00:25:18.465>blocks, <00:25:18.665>big <00:25:18.865>transactions, <00:25:19.065>and <00:25:19.265>big <00:25:19.465>scripts.

503
00:25:21.265 --> 00:25:25.565
<00:25:21.265>And, <00:25:21.392>um, <00:25:21.519>I <00:25:21.646>suppose <00:25:21.774>I'm, <00:25:21.901>I'm <00:25:22.028>speaking, <00:25:22.155>uh, <00:25:22.283>to <00:25:22.410>people <00:25:22.537>here <00:25:22.665>as,

504
00:25:25.665 --> 00:25:27.565
<00:25:25.665>as <00:25:26.131>potential <00:25:26.598>developers, <00:25:27.065>um,

505
00:25:27.795 --> 00:25:30.485
<00:25:27.795>because, <00:25:28.028>uh, <00:25:28.261>I'm <00:25:28.495>talking <00:25:28.728>about <00:25:28.961>the <00:25:29.195>potential

506
00:25:30.485 --> 00:25:32.965
<00:25:30.485>that <00:25:30.685>can <00:25:30.885>be <00:25:31.084>unlocked, <00:25:31.284>uh, <00:25:31.485>uh, <00:25:31.685>as <00:25:31.885>part

507
00:25:32.965 --> 00:25:34.365
<00:25:32.965>of <00:25:33.385>the <00:25:33.805>developer <00:25:34.225>experience.

508
00:25:35.105 --> 00:25:36.445
<00:25:35.105>And <00:25:35.346>we'll <00:25:35.587>start <00:25:35.828>with <00:25:36.069>big <00:25:36.311>blocks.

509
00:25:36.745 --> 00:25:38.005
<00:25:36.745>Um, <00:25:36.971>but <00:25:37.198>I <00:25:37.425>make <00:25:37.652>the <00:25:37.879>point

510
00:25:38.005 --> 00:25:39.205
<00:25:38.005>that <00:25:38.221>big <00:25:38.437>blocks <00:25:38.653>are <00:25:38.869>not <00:25:39.085>something

511
00:25:39.205 --> 00:25:40.405
<00:25:39.205>you <00:25:39.420>should <00:25:39.637>have <00:25:39.853>to <00:25:40.069>worry <00:25:40.284>about.

512
00:25:40.495 --> 00:25:42.085
<00:25:40.495>We're <00:25:40.728>just <00:25:40.961>gonna <00:25:41.195>talk <00:25:41.428>about <00:25:41.661>big <00:25:41.895>blocks

513
00:25:42.085 --> 00:25:45.725
<00:25:42.085>because <00:25:42.225>they <00:25:42.365>are <00:25:42.505>what <00:25:42.645>enables <00:25:42.785>you <00:25:42.925>to, <00:25:43.065>um, <00:25:43.205>to <00:25:43.345>do <00:25:43.485>all

514
00:25:45.725 --> 00:25:49.445
<00:25:45.725>of <00:25:45.865>these <00:25:46.004>things <00:25:46.145>that, <00:25:46.284>um, <00:25:46.425>um, <00:25:46.564>that <00:25:46.705>we've <00:25:46.844>been <00:25:46.985>told <00:25:47.125>for

515
00:25:49.445 --> 00:25:50.485
<00:25:49.445>so <00:25:49.678>long <00:25:49.913>and <00:25:50.147>not <00:25:50.380>possible.

516
00:25:51.265 --> 00:25:52.805
<00:25:51.265>So, <00:25:51.542>firstly, <00:25:51.819>why <00:25:52.096>big <00:25:52.373>blocks <00:25:52.651>matter?

517
00:25:53.825 --> 00:25:57.645
<00:25:53.825>Um, <00:25:53.980>well, <00:25:54.136>it <00:25:54.291>goes <00:25:54.447>to <00:25:54.602>the <00:25:54.758>structure <00:25:54.913>of <00:25:55.069>the <00:25:55.225>network

518
00:25:57.785 --> 00:25:59.325
<00:25:57.785>and <00:25:57.983>in <00:25:58.181>fact, <00:25:58.379>the <00:25:58.577>structure <00:25:58.775>of <00:25:58.973>the <00:25:59.171>network,

519
00:25:59.585 --> 00:26:01.765
<00:25:59.585>the <00:25:59.818>Bitcoin <00:26:00.051>network <00:26:00.285>that <00:26:00.518>was <00:26:00.751>described <00:26:00.985>by,

520
00:26:01.985 --> 00:26:03.245
<00:26:01.985>by <00:26:02.552>Satoshi <00:26:03.119>Nakamoto,

521
00:26:03.245 --> 00:26:04.925
<00:26:03.245>and <00:26:03.445>it's <00:26:03.645>actually <00:26:03.844>very <00:26:04.044>different <00:26:04.245>to <00:26:04.445>the <00:26:04.645>way

522
00:26:04.925 --> 00:26:06.605
<00:26:04.925>that <00:26:05.274>most <00:26:05.625>blockchain <00:26:05.975>networks <00:26:06.325>look.

523
00:26:07.305 --> 00:26:09.405
<00:26:07.305>And <00:26:07.460>you'll <00:26:07.616>see <00:26:07.771>over <00:26:07.927>on <00:26:08.082>the <00:26:08.238>left, <00:26:08.393>uh, <00:26:08.549>the <00:26:08.705>title

524
00:26:09.425 --> 00:26:12.165
<00:26:09.425>of <00:26:09.625>this <00:26:09.825>slide <00:26:10.024>is <00:26:10.225>Minimal <00:26:10.425>Hardware <00:26:10.625>Where <00:26:10.825>Required.

525
00:26:12.745 --> 00:26:16.165
<00:26:12.745>Um, <00:26:12.885>what <00:26:13.024>I <00:26:13.165>mean <00:26:13.304>by <00:26:13.445>that <00:26:13.584>is <00:26:13.725>that <00:26:13.864>as <00:26:14.004>a <00:26:14.145>developer

526
00:26:16.305 --> 00:26:20.045
<00:26:16.305>or <00:26:16.480>a <00:26:16.655>user <00:26:16.830>of <00:26:17.005>Bitcoin, <00:26:17.180>um, <00:26:17.355>you <00:26:17.530>shouldn't <00:26:17.705>have

527
00:26:20.045 --> 00:26:23.445
<00:26:20.045>to <00:26:20.185>have <00:26:20.325>a <00:26:20.465>data <00:26:20.605>center <00:26:20.745>full <00:26:20.885>of <00:26:21.025>computing, <00:26:21.165>uh, <00:26:21.305>equipment <00:26:21.445>so

528
00:26:23.445 --> 00:26:25.525
<00:26:23.445>that <00:26:23.620>you <00:26:23.794>can, <00:26:23.970>uh, <00:26:24.145>participate <00:26:24.320>in <00:26:24.495>the <00:26:24.669>Bitcoin <00:26:24.845>network.

529
00:26:25.985 --> 00:26:28.605
<00:26:25.985>You <00:26:26.125>shouldn't <00:26:26.264>even <00:26:26.405>have <00:26:26.544>to <00:26:26.685>have <00:26:26.824>a <00:26:26.965>200 <00:26:27.104>gigabyte <00:26:27.245>hard <00:26:27.385>drive,

530
00:26:28.905 --> 00:26:32.965
<00:26:28.905>uh, <00:26:29.045>so <00:26:29.185>that <00:26:29.325>you <00:26:29.465>can, <00:26:29.605>um, <00:26:29.745>uh, <00:26:29.885>participate <00:26:30.024>in <00:26:30.165>the <00:26:30.305>network

531
00:26:33.145 --> 00:26:36.725
<00:26:33.145>by <00:26:33.320>running, <00:26:33.495>um, <00:26:33.670>the <00:26:33.845>so-called <00:26:34.020>full, <00:26:34.195>full <00:26:34.370>node <00:26:34.545>software.

532
00:26:37.305 --> 00:26:41.605
<00:26:37.305>Um, <00:26:37.432>what <00:26:37.559>happens <00:26:37.686>when, <00:26:37.814>um, <00:26:37.941>when <00:26:38.068>you <00:26:38.195>have <00:26:38.323>a, <00:26:38.450>a <00:26:38.577>world <00:26:38.705>full

533
00:26:41.605 --> 00:26:44.205
<00:26:41.605>of <00:26:41.732>people <00:26:41.859>that <00:26:41.986>are <00:26:42.114>trying <00:26:42.241>to <00:26:42.368>participate <00:26:42.495>in <00:26:42.623>a <00:26:42.750>network <00:26:42.877>on <00:26:43.005>an

534
00:26:44.205 --> 00:26:47.925
<00:26:44.205>equal <00:26:44.345>footing <00:26:44.485>like <00:26:44.625>that <00:26:44.764>is, <00:26:44.905>um, <00:26:45.044>you <00:26:45.185>develop <00:26:45.324>a <00:26:45.465>mesh <00:26:45.605>network

535
00:26:48.035 --> 00:26:50.965
<00:26:48.035>that <00:26:48.175>starts <00:26:48.315>to <00:26:48.455>look <00:26:48.595>a <00:26:48.735>little <00:26:48.875>bit <00:26:49.015>like, <00:26:49.155>uh, <00:26:49.295>the <00:26:49.435>diagram

536
00:26:51.075 --> 00:26:52.085
<00:26:51.075>that <00:26:51.378>we <00:26:51.681>have <00:26:51.984>here.

537
00:26:52.635 --> 00:26:57.165
<00:26:52.635>This <00:26:52.762>is <00:26:52.889>a <00:26:53.016>very, <00:26:53.144>um, <00:26:53.271>uh, <00:26:53.398>small <00:26:53.525>scale, <00:26:53.653>um, <00:26:53.780>imagining <00:26:53.907>of <00:26:54.035>that.

538
00:26:57.305 --> 00:27:01.885
<00:26:57.305>But, <00:26:57.505>um, <00:26:57.705>um, <00:26:57.905>the <00:26:58.105>typical <00:26:58.305>Bitcoin <00:26:58.505>interaction, <00:26:58.705>um,

539
00:27:02.865 --> 00:27:05.365
<00:27:02.865>if <00:27:03.040>you <00:27:03.215>consider <00:27:03.390>the <00:27:03.565>payment <00:27:03.740>case <00:27:03.915>is, <00:27:04.090>is <00:27:04.265>usually

540
00:27:05.365 --> 00:27:06.885
<00:27:05.365>between <00:27:05.638>a <00:27:05.912>customer <00:27:06.185>and <00:27:06.459>a <00:27:06.733>merchant

541
00:27:06.905 --> 00:27:09.285
<00:27:06.905>or <00:27:07.080>a <00:27:07.254>shop, <00:27:07.430>uh, <00:27:07.605>in, <00:27:07.780>in, <00:27:07.955>in <00:27:08.129>this <00:27:08.305>case.

542
00:27:09.865 --> 00:27:11.845
<00:27:09.865>Um, <00:27:10.040>and <00:27:10.215>let <00:27:10.390>me <00:27:10.565>show <00:27:10.740>you <00:27:10.915>how <00:27:11.090>that <00:27:11.265>works.

543
00:27:11.875 --> 00:27:16.005
<00:27:11.875>When <00:27:11.991>you <00:27:12.108>have <00:27:12.225>a <00:27:12.341>mesh <00:27:12.458>type <00:27:12.575>network, <00:27:12.691>uh, <00:27:12.808>on <00:27:12.925>a, <00:27:13.041>um, <00:27:13.158>uh, <00:27:13.275>that,

544
00:27:16.005 --> 00:27:20.985
<00:27:16.005>that <00:27:16.160>is <00:27:16.316>typical <00:27:16.471>of, <00:27:16.627>of <00:27:16.782>most <00:27:16.938>blockchains <00:27:17.093>today, <00:27:17.249>the <00:27:17.405>customer

545
00:27:21.045 --> 00:27:24.385
<00:27:21.045>and <00:27:21.185>the <00:27:21.325>shop <00:27:21.465>already <00:27:21.605>have <00:27:21.745>a, <00:27:21.885>uh, <00:27:22.025>connection <00:27:22.165>to <00:27:22.305>each <00:27:22.445>other

546
00:27:24.385 --> 00:27:26.945
<00:27:24.385>because <00:27:24.585>you've <00:27:24.785>gone <00:27:24.985>to <00:27:25.185>their <00:27:25.385>website <00:27:25.585>to <00:27:25.785>say

547
00:27:26.945 --> 00:27:29.105
<00:27:26.945>that <00:27:27.145>you <00:27:27.345>wanna <00:27:27.544>buy <00:27:27.745>a <00:27:27.945>thing <00:27:28.145>or, <00:27:28.345>um,

548
00:27:29.765 --> 00:27:32.225
<00:27:29.765>or <00:27:29.940>you <00:27:30.115>are, <00:27:30.290>you <00:27:30.465>are <00:27:30.640>trying <00:27:30.815>to <00:27:30.990>pay <00:27:31.165>them.

549
00:27:32.245 --> 00:27:34.425
<00:27:32.245>So <00:27:32.361>the <00:27:32.478>shop <00:27:32.594>has <00:27:32.711>already <00:27:32.828>told <00:27:32.945>you <00:27:33.061>that <00:27:33.178>you <00:27:33.294>need <00:27:33.411>to <00:27:33.528>pay <00:27:33.645>them.

550
00:27:35.085 --> 00:27:39.865
<00:27:35.085>Um, <00:27:35.212>but <00:27:35.339>in <00:27:35.466>a, <00:27:35.594>in <00:27:35.721>a <00:27:35.848>typical <00:27:35.975>blockchain <00:27:36.103>today, <00:27:36.230>um, <00:27:36.357>you <00:27:36.485>need

551
00:27:39.865 --> 00:27:41.985
<00:27:39.865>to <00:27:40.098>transmit <00:27:40.331>that, <00:27:40.565>um, <00:27:40.798>that <00:27:41.031>last <00:27:41.265>message,

552
00:27:42.155 --> 00:27:45.465
<00:27:42.155>which <00:27:42.330>is <00:27:42.504>the <00:27:42.680>actual <00:27:42.855>transaction <00:27:43.030>through, <00:27:43.205>uh, <00:27:43.379>from <00:27:43.555>customer

553
00:27:45.565 --> 00:27:46.745
<00:27:45.565>to, <00:27:45.919>uh, <00:27:46.273>to <00:27:46.627>merchant.

554
00:27:46.765 --> 00:27:48.425
<00:27:46.765>And, <00:27:46.965>and <00:27:47.165>this <00:27:47.365>is <00:27:47.565>how <00:27:47.765>it <00:27:47.965>typically <00:27:48.165>happens,

555
00:27:48.885 --> 00:27:51.145
<00:27:48.885>rather <00:27:49.085>than <00:27:49.285>sending <00:27:49.485>it <00:27:49.685>directly <00:27:49.885>to <00:27:50.085>the <00:27:50.285>shop,

556
00:27:51.195 --> 00:27:52.745
<00:27:51.195>which <00:27:51.474>would <00:27:51.753>make <00:27:52.032>sense <00:27:52.311>because <00:27:52.590>you've

557
00:27:52.745 --> 00:27:53.825
<00:27:52.745>already <00:27:52.939>got <00:27:53.133>a <00:27:53.328>connection <00:27:53.522>to <00:27:53.717>them.

558
00:27:54.205 --> 00:27:58.425
<00:27:54.205>Um, <00:27:54.321>you <00:27:54.438>hit <00:27:54.554>the, <00:27:54.671>the, <00:27:54.788>the <00:27:54.905>cloud <00:27:55.021>of, <00:27:55.138>um, <00:27:55.254>of <00:27:55.371>peers <00:27:55.488>in <00:27:55.605>the,

559
00:27:58.445 --> 00:27:59.985
<00:27:58.445>in <00:27:58.722>the <00:27:58.999>Bitcoin <00:27:59.276>or <00:27:59.553>the <00:27:59.831>Ethereum

560
00:28:00.005 --> 00:28:03.505
<00:28:00.005>or <00:28:00.145>the <00:28:00.285>narrow <00:28:00.425>networks, <00:28:00.565>um, <00:28:00.705>whichever <00:28:00.845>one <00:28:00.985>it <00:28:01.125>happens <00:28:01.265>to <00:28:01.405>be.

561
00:28:04.165 --> 00:28:07.865
<00:28:04.165>And <00:28:04.305>your <00:28:04.445>message <00:28:04.585>in <00:28:04.725>this <00:28:04.865>case <00:28:05.004>is <00:28:05.145>a <00:28:05.284>transaction <00:28:05.425>bounces <00:28:05.565>from

562
00:28:07.865 --> 00:28:09.265
<00:28:07.865>box <00:28:08.075>to <00:28:08.285>box <00:28:08.495>to <00:28:08.705>box <00:28:08.915>to <00:28:09.125>box

563
00:28:09.275 --> 00:28:11.305
<00:28:09.275>until <00:28:09.475>it <00:28:09.675>eventually <00:28:09.875>pops <00:28:10.075>out <00:28:10.275>the <00:28:10.475>other <00:28:10.675>end.

564
00:28:11.805 --> 00:28:14.545
<00:28:11.805>Now, <00:28:11.945>on <00:28:12.085>a <00:28:12.225>good <00:28:12.365>day, <00:28:12.505>this <00:28:12.645>will <00:28:12.785>take <00:28:12.925>five, <00:28:13.065>10 <00:28:13.205>seconds.

565
00:28:15.045 --> 00:28:18.065
<00:28:15.045>Um, <00:28:15.200>on <00:28:15.356>a <00:28:15.511>bad <00:28:15.667>day, <00:28:15.822>uh, <00:28:15.978>this <00:28:16.133>can <00:28:16.289>take, <00:28:16.445>uh,

566
00:28:18.065 --> 00:28:20.425
<00:28:18.065>potentially <00:28:18.345>30 <00:28:18.625>seconds <00:28:18.905>or <00:28:19.185>even <00:28:19.465>minutes.

567
00:28:20.965 --> 00:28:23.505
<00:28:20.965>Um, <00:28:21.139>and <00:28:21.314>if <00:28:21.490>you're <00:28:21.665>talking <00:28:21.840>about <00:28:22.014>a <00:28:22.189>payment <00:28:22.365>experience,

568
00:28:23.525 --> 00:28:24.745
<00:28:23.525>that's <00:28:23.799>just <00:28:24.074>not <00:28:24.348>good <00:28:24.622>enough

569
00:28:24.745 --> 00:28:27.385
<00:28:24.745>because, <00:28:24.978>um, <00:28:25.211>we <00:28:25.445>are <00:28:25.678>competing <00:28:25.911>with, <00:28:26.145>uh,

570
00:28:27.815 --> 00:28:29.585
<00:28:27.815>with <00:28:28.165>the <00:28:28.515>payment <00:28:28.865>experience <00:28:29.215>that

571
00:28:29.615 --> 00:28:31.265
<00:28:29.615>that <00:28:29.848>7 <00:28:30.081>billion <00:28:30.315>people <00:28:30.548>are <00:28:30.781>used <00:28:31.015>to,

572
00:28:31.405 --> 00:28:34.505
<00:28:31.405>or <00:28:31.532>maybe <00:28:31.659>not, <00:28:31.786>7 <00:28:31.914>billion <00:28:32.041>people <00:28:32.168>are <00:28:32.295>used <00:28:32.423>to, <00:28:32.550>um, <00:28:32.677>to <00:28:32.805>the,

573
00:28:34.645 --> 00:28:37.865
<00:28:34.645>to <00:28:34.878>the <00:28:35.111>payWave, <00:28:35.345>uh, <00:28:35.578>type <00:28:35.811>fpos <00:28:36.045>experience.

574
00:28:38.445 --> 00:28:42.225
<00:28:38.445>But, <00:28:38.561>um, <00:28:38.678>but <00:28:38.794>we <00:28:38.911>know <00:28:39.028>that, <00:28:39.145>uh, <00:28:39.261>you <00:28:39.378>can <00:28:39.495>walk <00:28:39.611>into <00:28:39.728>a <00:28:39.845>shop,

575
00:28:42.225 --> 00:28:43.425
<00:28:42.225>literally <00:28:42.585>tap <00:28:42.945>a <00:28:43.304>card,

576
00:28:43.685 --> 00:28:45.945
<00:28:43.685>and, <00:28:43.860>um, <00:28:44.034>within <00:28:44.210>a <00:28:44.385>a <00:28:44.560>fraction <00:28:44.735>of <00:28:44.909>a <00:28:45.085>second,

577
00:28:46.005 --> 00:28:47.105
<00:28:46.005>the <00:28:46.335>transaction <00:28:46.665>is <00:28:46.995>done.

578
00:28:47.125 --> 00:28:48.585
<00:28:47.125>So <00:28:47.312>that's <00:28:47.500>what <00:28:47.688>we <00:28:47.875>have <00:28:48.063>to <00:28:48.251>compete <00:28:48.439>with.

579
00:28:48.605 --> 00:28:51.585
<00:28:48.605>And, <00:28:48.760>and <00:28:48.916>five <00:28:49.071>seconds <00:28:49.227>is, <00:28:49.382>uh, <00:28:49.538>even <00:28:49.693>is <00:28:49.849>it, <00:28:50.005>is,

580
00:28:51.645 --> 00:28:52.665
<00:28:51.645>is <00:28:51.874>just <00:28:52.104>not <00:28:52.333>good <00:28:52.562>enough.

581
00:28:53.605 --> 00:28:56.305
<00:28:53.605>The <00:28:53.760>part <00:28:53.916>of <00:28:54.071>the <00:28:54.227>reason <00:28:54.382>we <00:28:54.538>have <00:28:54.693>this <00:28:54.849>configuration, <00:28:55.005>uh,

582
00:28:56.445 --> 00:28:59.425
<00:28:56.445>is <00:28:56.572>simply <00:28:56.699>because <00:28:56.826>all <00:28:56.954>of <00:28:57.081>these <00:28:57.208>nodes <00:28:57.335>that <00:28:57.463>you <00:28:57.590>see <00:28:57.717>on <00:28:57.845>the,

583
00:28:59.485 --> 00:29:03.385
<00:28:59.485>on <00:28:59.625>the <00:28:59.764>screen <00:28:59.905>right <00:29:00.044>now <00:29:00.185>are, <00:29:00.324>uh, <00:29:00.465>are <00:29:00.604>not <00:29:00.745>actually, <00:29:00.885>uh,

584
00:29:03.785 --> 00:29:07.265
<00:29:03.785>economically <00:29:04.065>incentivized <00:29:04.345>to, <00:29:04.625>um, <00:29:04.905>uh, <00:29:05.185>to,

585
00:29:07.405 --> 00:29:09.545
<00:29:07.405>to <00:29:07.685>run <00:29:07.965>on <00:29:08.245>well <00:29:08.524>provisioned <00:29:08.805>hardware.

586
00:29:10.585 --> 00:29:12.865
<00:29:10.585>Everyone <00:29:10.740>is <00:29:10.896>told <00:29:11.051>that <00:29:11.207>everybody <00:29:11.362>has <00:29:11.518>to <00:29:11.673>run <00:29:11.829>a <00:29:11.985>node,

587
00:29:13.325 --> 00:29:15.425
<00:29:13.325>but <00:29:13.465>of <00:29:13.605>course, <00:29:13.745>you're <00:29:13.885>not <00:29:14.025>getting <00:29:14.165>paid <00:29:14.305>to <00:29:14.445>run <00:29:14.585>a <00:29:14.725>node.

588
00:29:15.685 --> 00:29:18.025
<00:29:15.685>Um, <00:29:15.918>so <00:29:16.151>the <00:29:16.385>costs <00:29:16.618>associating <00:29:16.851>with <00:29:17.085>running,

589
00:29:18.025 --> 00:29:20.305
<00:29:18.025>running <00:29:18.180>a <00:29:18.336>node <00:29:18.491>are <00:29:18.647>something <00:29:18.802>that <00:29:18.958>you <00:29:19.113>are <00:29:19.269>concerned <00:29:19.425>about,

590
00:29:20.965 --> 00:29:23.705
<00:29:20.965>and <00:29:21.120>that <00:29:21.276>leads <00:29:21.431>to <00:29:21.587>this <00:29:21.742>mesh <00:29:21.898>kind <00:29:22.053>of <00:29:22.209>network, <00:29:22.365>uh,

591
00:29:24.025 --> 00:29:26.065
<00:29:24.025>configuration, <00:29:24.258>because <00:29:24.491>the <00:29:24.725>more <00:29:24.958>connections <00:29:25.191>you <00:29:25.425>have

592
00:29:26.065 --> 00:29:28.145
<00:29:26.065>with <00:29:26.220>other <00:29:26.376>people <00:29:26.531>and <00:29:26.687>the <00:29:26.842>higher <00:29:26.998>speed <00:29:27.153>those <00:29:27.309>can <00:29:27.465>connections

593
00:29:28.165 --> 00:29:31.385
<00:29:28.165>are, <00:29:28.320>the <00:29:28.476>more <00:29:28.631>traffic <00:29:28.787>you're <00:29:28.942>gonna <00:29:29.098>be <00:29:29.253>sending <00:29:29.409>and <00:29:29.565>receiving.

594
00:29:31.385 --> 00:29:33.065
<00:29:31.385>And <00:29:31.560>of <00:29:31.735>course, <00:29:31.910>the <00:29:32.085>more <00:29:32.260>it's <00:29:32.435>gonna <00:29:32.610>cost <00:29:32.785>you.

595
00:29:33.325 --> 00:29:35.145
<00:29:33.325>Um, <00:29:33.525>and <00:29:33.725>that's <00:29:33.925>a <00:29:34.125>real <00:29:34.325>concern <00:29:34.525>if <00:29:34.725>there's

596
00:29:35.145 --> 00:29:36.185
<00:29:35.145>no <00:29:35.456>revenue <00:29:35.769>coming <00:29:36.081>in.

597
00:29:37.125 --> 00:29:39.265
<00:29:37.125>But <00:29:37.300>the <00:29:37.475>way <00:29:37.650>that <00:29:37.825>the <00:29:38.000>Bitcoin <00:29:38.175>network <00:29:38.350>was <00:29:38.525>intended

598
00:29:39.325 --> 00:29:42.205
<00:29:39.325>to <00:29:39.480>be <00:29:39.636>configured <00:29:39.791>was <00:29:39.947>that <00:29:40.102>the <00:29:40.258>people <00:29:40.413>that <00:29:40.569>are <00:29:40.725>responsible

599
00:29:42.205 --> 00:29:44.325
<00:29:42.205>for <00:29:42.438>the <00:29:42.671>connectivity <00:29:42.905>are <00:29:43.138>the <00:29:43.371>miners <00:29:43.605>themselves.

600
00:29:44.545 --> 00:29:47.405
<00:29:44.545>And <00:29:44.661>the <00:29:44.778>miners <00:29:44.895>are <00:29:45.011>the <00:29:45.128>ones <00:29:45.245>that <00:29:45.361>actually <00:29:45.478>get <00:29:45.595>paid <00:29:45.711>as <00:29:45.828>a <00:29:45.945>part

601
00:29:47.425 --> 00:29:49.565
<00:29:47.425>of <00:29:47.658>the <00:29:47.891>operations <00:29:48.125>of <00:29:48.358>the <00:29:48.591>Bitcoin <00:29:48.825>network.

602
00:29:50.505 --> 00:29:52.245
<00:29:50.505>Now, <00:29:50.785>consider <00:29:51.065>for <00:29:51.345>a <00:29:51.625>moment, <00:29:51.905>uh,

603
00:29:52.415 --> 00:29:55.685
<00:29:52.415>proje <00:29:52.590>project <00:29:52.764>into <00:29:52.940>the <00:29:53.115>future <00:29:53.290>where, <00:29:53.465>uh, <00:29:53.639>transaction <00:29:53.815>fees,

604
00:29:56.065 --> 00:29:59.565
<00:29:56.065>uh, <00:29:56.220>and <00:29:56.376>transaction <00:29:56.531>volume <00:29:56.687>is <00:29:56.842>high <00:29:56.998>enough <00:29:57.153>that, <00:29:57.309>um, <00:29:57.465>just

605
00:29:59.685 --> 00:30:01.205
<00:29:59.685>to <00:29:59.880>pick <00:30:00.075>an <00:30:00.271>easy <00:30:00.466>number <00:30:00.662>to <00:30:00.857>work <00:30:01.053>with,

606
00:30:01.375 --> 00:30:04.405
<00:30:01.375>let's <00:30:01.655>say <00:30:01.935>there's <00:30:02.215>$600,000 <00:30:02.495>worth <00:30:02.775>of,

607
00:30:04.585 --> 00:30:06.965
<00:30:04.585>of <00:30:04.935>transaction <00:30:05.285>fee <00:30:05.635>revenue <00:30:05.985>coming

608
00:30:06.965 --> 00:30:08.765
<00:30:06.965>through <00:30:07.245>every <00:30:07.524>block, <00:30:07.804>every <00:30:08.084>10 <00:30:08.365>minutes.

609
00:30:09.425 --> 00:30:11.405
<00:30:09.425>Um, <00:30:09.600>now <00:30:09.774>that <00:30:09.950>sounds <00:30:10.125>like <00:30:10.300>a <00:30:10.475>lot <00:30:10.649>of <00:30:10.825>money,

610
00:30:11.545 --> 00:30:13.405
<00:30:11.545>but, <00:30:11.778>um, <00:30:12.011>break <00:30:12.245>it <00:30:12.478>down <00:30:12.711>over <00:30:12.945>millions

611
00:30:13.405 --> 00:30:14.485
<00:30:13.405>and <00:30:13.729>millions <00:30:14.053>of <00:30:14.377>transactions.

612
00:30:14.635 --> 00:30:17.765
<00:30:14.635>Lots <00:30:14.775>and <00:30:14.915>lots <00:30:15.055>of <00:30:15.195>people <00:30:15.335>paying <00:30:15.475>a <00:30:15.615>hundred <00:30:15.754>to <00:30:15.895>percent <00:30:16.035>each.

613
00:30:18.305 --> 00:30:21.845
<00:30:18.305>Um, <00:30:18.460>it's <00:30:18.616>a <00:30:18.771>lot <00:30:18.927>of <00:30:19.082>transactions, <00:30:19.238>but, <00:30:19.393>um, <00:30:19.549>um, <00:30:19.705>but,

614
00:30:21.905 --> 00:30:23.765
<00:30:21.905>but <00:30:22.080>I'll <00:30:22.254>show <00:30:22.430>you <00:30:22.605>in <00:30:22.780>a <00:30:22.955>minute <00:30:23.129>why, <00:30:23.305>why

615
00:30:23.765 --> 00:30:25.285
<00:30:23.765>that <00:30:24.221>actually <00:30:24.677>becomes <00:30:25.133>manageable.

616
00:30:26.625 --> 00:30:30.845
<00:30:26.625>So <00:30:26.780>$600,000 <00:30:26.936>every <00:30:27.091>10 <00:30:27.247>minutes, <00:30:27.402>10 <00:30:27.558>minutes <00:30:27.713>is <00:30:27.869>600 <00:30:28.025>seconds.

617
00:30:30.945 --> 00:30:32.965
<00:30:30.945>So <00:30:31.100>that's <00:30:31.256>a <00:30:31.411>thousand <00:30:31.567>dollars <00:30:31.722>a <00:30:31.878>second <00:30:32.033>worth <00:30:32.189>of <00:30:32.345>revenue

618
00:30:32.965 --> 00:30:34.245
<00:30:32.965>that's <00:30:33.253>coming <00:30:33.541>through <00:30:33.829>the <00:30:34.117>system.

619
00:30:35.345 --> 00:30:36.845
<00:30:35.345>Now, <00:30:35.615>if <00:30:35.885>you <00:30:36.155>are <00:30:36.425>a <00:30:36.695>miner

620
00:30:37.025 --> 00:30:39.685
<00:30:37.025>and <00:30:37.225>your <00:30:37.425>network <00:30:37.625>connections <00:30:37.825>aren't <00:30:38.025>up <00:30:38.225>to <00:30:38.425>scratch

621
00:30:39.825 --> 00:30:42.205
<00:30:39.825>and <00:30:40.025>you <00:30:40.225>can't <00:30:40.425>receive <00:30:40.625>the <00:30:40.825>transactions <00:30:41.025>fast <00:30:41.225>enough,

622
00:30:42.555 --> 00:30:46.645
<00:30:42.555>even <00:30:42.695>if <00:30:42.835>you <00:30:42.975>are <00:30:43.115>delayed <00:30:43.255>by <00:30:43.395>five <00:30:43.535>seconds <00:30:43.675>in <00:30:43.815>receiving, <00:30:43.955>uh,

623
00:30:46.745 --> 00:30:49.165
<00:30:46.745>the <00:30:46.945>transactions <00:30:47.145>that <00:30:47.344>everybody <00:30:47.544>else <00:30:47.745>is <00:30:47.945>getting <00:30:48.145>straight

624
00:30:49.165 --> 00:30:52.085
<00:30:49.165>away, <00:30:49.305>that's <00:30:49.445>$5,000 <00:30:49.585>worth <00:30:49.725>of <00:30:49.865>revenue <00:30:50.004>that <00:30:50.145>you <00:30:50.284>are <00:30:50.425>not <00:30:50.565>going

625
00:30:52.085 --> 00:30:53.645
<00:30:52.085>to <00:30:52.318>get <00:30:52.551>when <00:30:52.785>you <00:30:53.018>find <00:30:53.251>a <00:30:53.485>block.

626
00:30:54.265 --> 00:30:57.005
<00:30:54.265>Um, <00:30:54.440>and <00:30:54.615>that's <00:30:54.790>just, <00:30:54.965>you <00:30:55.140>know, <00:30:55.315>one <00:30:55.490>block <00:30:55.665>in,

627
00:30:57.005 --> 00:30:58.045
<00:30:57.005>in <00:30:57.239>a <00:30:57.473>10 <00:30:57.707>minute <00:30:57.941>span.

628
00:30:58.045 --> 00:30:59.845
<00:30:58.045>Imagine <00:30:58.245>that <00:30:58.445>over <00:30:58.645>the <00:30:58.845>course <00:30:59.045>of <00:30:59.245>a <00:30:59.445>year.

629
00:31:00.265 --> 00:31:02.525
<00:31:00.265>So <00:31:00.545>my <00:31:00.825>miners <00:31:01.105>are <00:31:01.385>highly <00:31:01.665>incentivized

630
00:31:02.785 --> 00:31:06.125
<00:31:02.785>to <00:31:02.960>spend <00:31:03.135>money <00:31:03.310>on <00:31:03.485>increasing <00:31:03.660>the <00:31:03.835>network <00:31:04.010>connection, <00:31:04.185>uh,

631
00:31:06.485 --> 00:31:08.845
<00:31:06.485>capacity, <00:31:06.764>uh, <00:31:07.044>and <00:31:07.324>they're <00:31:07.604>very <00:31:07.885>incentivized

632
00:31:08.845 --> 00:31:11.445
<00:31:08.845>to <00:31:08.985>be <00:31:09.125>connected <00:31:09.265>directly <00:31:09.405>to <00:31:09.545>all <00:31:09.685>of <00:31:09.825>the <00:31:09.965>other <00:31:10.105>miners <00:31:10.245>so

633
00:31:11.445 --> 00:31:14.085
<00:31:11.445>that <00:31:11.585>they <00:31:11.725>can <00:31:11.865>all <00:31:12.004>grab <00:31:12.145>and <00:31:12.284>hoover <00:31:12.425>up <00:31:12.564>all <00:31:12.705>of <00:31:12.845>the,

634
00:31:14.145 --> 00:31:16.085
<00:31:14.145>the <00:31:14.345>transactions <00:31:14.545>that <00:31:14.745>are <00:31:14.945>coming <00:31:15.145>into <00:31:15.345>the <00:31:15.545>network,

635
00:31:16.515 --> 00:31:19.325
<00:31:16.515>because <00:31:16.715>each <00:31:16.915>one <00:31:17.115>of <00:31:17.315>those <00:31:17.515>transactions <00:31:17.715>represents <00:31:17.915>revenue.

636
00:31:20.105 --> 00:31:25.085
<00:31:20.105>And <00:31:20.260>so <00:31:20.416>what <00:31:20.571>happens, <00:31:20.727>the <00:31:20.882>network <00:31:21.038>starts <00:31:21.193>to <00:31:21.349>reform <00:31:21.505>itself,

637
00:31:25.865 --> 00:31:27.925
<00:31:25.865>uh, <00:31:26.065>into <00:31:26.265>something <00:31:26.465>that <00:31:26.665>is <00:31:26.865>much <00:31:27.065>more <00:31:27.265>like

638
00:31:27.925 --> 00:31:31.125
<00:31:27.925>what <00:31:28.100>Satoshi <00:31:28.274>Nakamoto <00:31:28.450>actually <00:31:28.625>described, <00:31:28.800>uh, <00:31:28.975>in <00:31:29.149>the, <00:31:29.325>in,

639
00:31:31.125 --> 00:31:32.685
<00:31:31.125>in <00:31:31.405>the <00:31:31.685>early <00:31:31.965>days <00:31:32.245>of <00:31:32.525>Bitcoin.

640
00:31:33.345 --> 00:31:37.685
<00:31:33.345>You <00:31:33.472>see <00:31:33.599>right <00:31:33.726>there <00:31:33.854>at <00:31:33.981>the <00:31:34.108>center, <00:31:34.235>um, <00:31:34.363>these <00:31:34.490>are <00:31:34.617>nodes, <00:31:34.745>uh,

641
00:31:37.905 --> 00:31:39.685
<00:31:37.905>or <00:31:38.254>otherwise <00:31:38.605>known <00:31:38.955>as <00:31:39.305>miners.

642
00:31:39.945 --> 00:31:42.845
<00:31:39.945>Um, <00:31:40.145>they <00:31:40.345>are <00:31:40.544>the <00:31:40.745>ones <00:31:40.945>that <00:31:41.145>actually, <00:31:41.345>uh,

643
00:31:43.025 --> 00:31:44.725
<00:31:43.025>run <00:31:43.305>the <00:31:43.585>network, <00:31:43.865>operate <00:31:44.145>the <00:31:44.425>network.

644
00:31:44.995 --> 00:31:47.365
<00:31:44.995>They're <00:31:45.150>the <00:31:45.306>ones <00:31:45.461>that <00:31:45.617>are <00:31:45.772>incentivized <00:31:45.928>to <00:31:46.083>have <00:31:46.239>full <00:31:46.395>copies

645
00:31:47.385 --> 00:31:50.485
<00:31:47.385>of <00:31:47.540>the <00:31:47.696>blockchain, <00:31:47.851>the <00:31:48.007>massive <00:31:48.162>hard <00:31:48.318>drives <00:31:48.473>that <00:31:48.629>are <00:31:48.785>required

646
00:31:50.545 --> 00:31:54.245
<00:31:50.545>as, <00:31:50.661>as, <00:31:50.778>um, <00:31:50.895>as, <00:31:51.011>as <00:31:51.128>blocks <00:31:51.245>get <00:31:51.361>bigger <00:31:51.478>and <00:31:51.595>out <00:31:51.711>on <00:31:51.828>the <00:31:51.945>edge.

647
00:31:54.245 --> 00:31:56.885
<00:31:54.245>Those <00:31:54.524>whites, <00:31:54.804>uh, <00:31:55.084>white <00:31:55.364>circles <00:31:55.645>there,

648
00:31:56.885 --> 00:31:57.965
<00:31:56.885>they're <00:31:57.370>actually <00:31:57.857>peers.

649
00:31:58.385 --> 00:32:00.485
<00:31:58.385>Um, <00:31:58.540>I <00:31:58.696>don't <00:31:58.851>call <00:31:59.007>'em <00:31:59.162>nodes, <00:31:59.318>I <00:31:59.473>call <00:31:59.629>'em <00:31:59.785>peers,

650
00:32:00.905 --> 00:32:02.525
<00:32:00.905>but <00:32:01.105>they're <00:32:01.305>actually <00:32:01.504>the <00:32:01.705>users <00:32:01.905>of <00:32:02.105>the <00:32:02.305>network.

651
00:32:02.745 --> 00:32:04.605
<00:32:02.745>And <00:32:02.919>that <00:32:03.094>can <00:32:03.270>be <00:32:03.445>people <00:32:03.620>who <00:32:03.794>wanna <00:32:03.969>make <00:32:04.145>payments

652
00:32:04.625 --> 00:32:07.365
<00:32:04.625>or <00:32:04.800>that <00:32:04.975>can <00:32:05.150>be <00:32:05.325>applications, <00:32:05.500>uh, <00:32:05.675>that <00:32:05.850>can <00:32:06.025>be

653
00:32:08.115 --> 00:32:10.885
<00:32:08.115>very <00:32:08.290>big <00:32:08.465>applications <00:32:08.640>that <00:32:08.815>are <00:32:08.990>serving <00:32:09.165>millions <00:32:09.340>of <00:32:09.515>users.

654
00:32:11.395 --> 00:32:12.925
<00:32:11.395>They <00:32:11.670>don't <00:32:11.945>need <00:32:12.221>to <00:32:12.496>see <00:32:12.772>everything

655
00:32:12.925 --> 00:32:14.445
<00:32:12.925>that's <00:32:13.153>going <00:32:13.380>on <00:32:13.609>in <00:32:13.837>the <00:32:14.065>Bitcoin <00:32:14.293>network.

656
00:32:14.865 --> 00:32:17.725
<00:32:14.865>Um, <00:32:14.981>they <00:32:15.098>need <00:32:15.215>to <00:32:15.331>be <00:32:15.448>able <00:32:15.565>to <00:32:15.681>see <00:32:15.798>the <00:32:15.915>parts <00:32:16.031>that <00:32:16.148>concern <00:32:16.265>them,

657
00:32:18.305 --> 00:32:20.525
<00:32:18.305>um, <00:32:18.460>and <00:32:18.616>they <00:32:18.771>need <00:32:18.927>to <00:32:19.082>be <00:32:19.238>connected <00:32:19.393>to <00:32:19.549>a <00:32:19.705>very,

658
00:32:20.525 --> 00:32:23.405
<00:32:20.525>very <00:32:20.680>fast <00:32:20.836>backbone, <00:32:20.991>which <00:32:21.147>is <00:32:21.302>what <00:32:21.458>the, <00:32:21.613>the <00:32:21.769>miners <00:32:21.925>provide.

659
00:32:23.985 --> 00:32:26.485
<00:32:23.985>Now, <00:32:24.159>I'm <00:32:24.334>only <00:32:24.510>showing <00:32:24.685>five, <00:32:24.860>uh, <00:32:25.034>mining <00:32:25.209>nodes <00:32:25.385>here,

660
00:32:26.545 --> 00:32:29.565
<00:32:26.545>but <00:32:26.720>of <00:32:26.895>course, <00:32:27.070>that <00:32:27.245>number, <00:32:27.420>um, <00:32:27.595>can <00:32:27.770>vary, <00:32:27.945>uh,

661
00:32:29.705 --> 00:32:30.725
<00:32:29.705>uh, <00:32:30.164>quite <00:32:30.622>significantly.

662
00:32:31.105 --> 00:32:32.925
<00:32:31.105>Uh, <00:32:31.280>and <00:32:31.455>I <00:32:31.630>would <00:32:31.805>expect <00:32:31.980>it <00:32:32.155>to <00:32:32.330>be <00:32:32.505>more.

663
00:32:32.945 --> 00:32:36.125
<00:32:32.945>But, <00:32:33.072>uh, <00:32:33.199>there's <00:32:33.326>only <00:32:33.454>room <00:32:33.581>for <00:32:33.708>so <00:32:33.835>many <00:32:33.963>circles <00:32:34.090>on <00:32:34.217>the <00:32:34.345>page.

664
00:32:37.105 --> 00:32:39.965
<00:32:37.105>Now <00:32:37.280>remember, <00:32:37.455>back <00:32:37.630>at <00:32:37.805>the <00:32:37.980>beginning <00:32:38.155>of <00:32:38.330>this <00:32:38.505>animation,

665
00:32:40.165 --> 00:32:44.045
<00:32:40.165>I <00:32:40.305>showed <00:32:40.445>you <00:32:40.585>the <00:32:40.725>animation, <00:32:40.865>uh, <00:32:41.004>of, <00:32:41.145>of, <00:32:41.284>of <00:32:41.425>this <00:32:41.565>section.

666
00:32:44.205 --> 00:32:46.645
<00:32:44.205>I <00:32:44.360>showed <00:32:44.516>you <00:32:44.671>the <00:32:44.827>animation <00:32:44.982>of <00:32:45.138>the <00:32:45.293>transaction <00:32:45.449>floating <00:32:45.605>from

667
00:32:46.645 --> 00:32:48.885
<00:32:46.645>the <00:32:46.820>customer <00:32:46.995>all <00:32:47.170>the <00:32:47.345>way <00:32:47.520>through <00:32:47.695>the <00:32:47.870>network, <00:32:48.045>bouncing

668
00:32:48.885 --> 00:32:52.365
<00:32:48.885>around <00:32:49.085>and <00:32:49.285>eventually <00:32:49.485>getting, <00:32:49.685>uh, <00:32:49.885>to <00:32:50.085>the, <00:32:50.285>um,

669
00:32:52.425 --> 00:32:54.045
<00:32:52.425>the <00:32:52.705>recipient, <00:32:52.985>which <00:32:53.264>was <00:32:53.544>the <00:32:53.825>merchant.

670
00:32:54.265 --> 00:32:56.165
<00:32:54.265>Um, <00:32:54.465>so <00:32:54.665>let's <00:32:54.865>see <00:32:55.065>how <00:32:55.265>it <00:32:55.465>actually <00:32:55.665>happens.

671
00:32:56.505 --> 00:32:58.205
<00:32:56.505>The <00:32:56.855>way <00:32:57.205>that <00:32:57.555>Satoshi <00:32:57.905>described,

672
00:32:58.205 --> 00:32:59.645
<00:32:58.205>because <00:32:58.529>the <00:32:58.853>very <00:32:59.177>first <00:32:59.501>version

673
00:32:59.705 --> 00:33:02.765
<00:32:59.705>of <00:32:59.879>Bitcoin <00:33:00.054>included <00:33:00.230>a <00:33:00.405>feature <00:33:00.580>called <00:33:00.754>IP <00:33:00.929>to <00:33:01.105>ip,

674
00:33:03.335 --> 00:33:05.725
<00:33:03.335>which <00:33:03.510>is <00:33:03.685>the <00:33:03.860>very <00:33:04.035>definition <00:33:04.210>of <00:33:04.385>peer <00:33:04.560>to <00:33:04.735>peer.

675
00:33:05.995 --> 00:33:08.165
<00:33:05.995>It's, <00:33:06.169>uh, <00:33:06.344>a <00:33:06.520>peer <00:33:06.695>with <00:33:06.870>an <00:33:07.044>IP <00:33:07.219>address <00:33:07.395>connecting

676
00:33:08.165 --> 00:33:09.765
<00:33:08.165>to <00:33:08.398>another <00:33:08.631>peer <00:33:08.865>with <00:33:09.098>an <00:33:09.331>IP <00:33:09.565>address.

677
00:33:10.115 --> 00:33:12.165
<00:33:10.115>This <00:33:10.290>is <00:33:10.465>sort <00:33:10.640>of <00:33:10.815>subsequently <00:33:10.990>been <00:33:11.165>removed <00:33:11.340>from <00:33:11.515>Bitcoin,

678
00:33:12.185 --> 00:33:13.805
<00:33:12.185>but <00:33:12.418>we <00:33:12.651>are <00:33:12.885>putting <00:33:13.118>it <00:33:13.351>back <00:33:13.585>in.

679
00:33:14.545 --> 00:33:18.965
<00:33:14.545>So <00:33:14.685>this <00:33:14.825>is <00:33:14.965>actually <00:33:15.105>how <00:33:15.245>a <00:33:15.385>transaction <00:33:15.525>is <00:33:15.665>supposed <00:33:15.805>to <00:33:15.945>flow.

680
00:33:19.405 --> 00:33:21.325
<00:33:19.405>Customer <00:33:19.560>and <00:33:19.716>shop <00:33:19.871>are <00:33:20.027>already <00:33:20.182>in <00:33:20.338>touch <00:33:20.493>with <00:33:20.649>each <00:33:20.805>other

681
00:33:21.325 --> 00:33:24.525
<00:33:21.325>because <00:33:21.525>they've <00:33:21.725>decided <00:33:21.925>to <00:33:22.125>make <00:33:22.325>a <00:33:22.525>transaction, <00:33:22.725>um,

682
00:33:25.385 --> 00:33:27.885
<00:33:25.385>and, <00:33:25.560>uh, <00:33:25.735>you <00:33:25.910>know, <00:33:26.085>execute <00:33:26.260>purchase <00:33:26.435>of <00:33:26.610>some <00:33:26.785>goods

683
00:33:27.885 --> 00:33:29.005
<00:33:27.885>or <00:33:28.221>services, <00:33:28.557>et <00:33:28.893>cetera.

684
00:33:29.265 --> 00:33:32.525
<00:33:29.265>So <00:33:29.420>the <00:33:29.576>customer <00:33:29.731>sends <00:33:29.887>the <00:33:30.042>transaction <00:33:30.198>directly <00:33:30.353>to <00:33:30.509>the <00:33:30.665>shop.

685
00:33:32.695 --> 00:33:34.605
<00:33:32.695>Makes <00:33:32.895>sense, <00:33:33.095>because <00:33:33.294>the <00:33:33.495>shop <00:33:33.695>is <00:33:33.895>the <00:33:34.095>one

686
00:33:34.605 --> 00:33:37.605
<00:33:34.605>that <00:33:34.805>actually <00:33:35.005>cares <00:33:35.205>about <00:33:35.405>getting <00:33:35.605>the <00:33:35.805>transaction <00:33:36.005>confirmed.

687
00:33:38.025 --> 00:33:39.605
<00:33:38.025>So <00:33:38.375>the <00:33:38.725>shop <00:33:39.075>takes <00:33:39.425>responsibility

688
00:33:39.825 --> 00:33:41.565
<00:33:39.825>for <00:33:40.058>sending <00:33:40.291>it <00:33:40.525>out <00:33:40.758>to <00:33:40.991>the <00:33:41.225>miner.

689
00:33:41.905 --> 00:33:44.285
<00:33:41.905>Now, <00:33:42.105>the <00:33:42.305>miners <00:33:42.504>are <00:33:42.705>all <00:33:42.905>incredibly <00:33:43.105>densely <00:33:43.305>connected.

690
00:33:44.425 --> 00:33:46.445
<00:33:44.425>So <00:33:44.600>instead <00:33:44.774>of <00:33:44.950>those <00:33:45.125>five <00:33:45.300>hops <00:33:45.475>that <00:33:45.649>we <00:33:45.825>saw

691
00:33:46.445 --> 00:33:48.605
<00:33:46.445>before, <00:33:46.678>let's <00:33:46.911>see <00:33:47.145>what <00:33:47.378>happens <00:33:47.611>this <00:33:47.845>time.

692
00:33:50.415 --> 00:33:53.065
<00:33:50.415>Bang, <00:33:50.590>immediately, <00:33:50.764>as <00:33:50.940>soon <00:33:51.115>as <00:33:51.290>it <00:33:51.465>hits <00:33:51.639>one <00:33:51.815>miner,

693
00:33:53.135 --> 00:33:54.545
<00:33:53.135>it's <00:33:53.346>out <00:33:53.558>to <00:33:53.769>all <00:33:53.981>of <00:33:54.192>the <00:33:54.404>others.

694
00:33:55.085 --> 00:33:57.225
<00:33:55.085>And <00:33:55.318>so <00:33:55.551>you've <00:33:55.785>got <00:33:56.018>incredibly <00:33:56.251>low <00:33:56.485>latency.

695
00:33:57.525 --> 00:34:01.105
<00:33:57.525>Um, <00:33:57.680>you, <00:33:57.836>you've <00:33:57.991>actually <00:33:58.147>got <00:33:58.302>a, <00:33:58.458>a <00:33:58.613>speed <00:33:58.769>of <00:33:58.925>confirmation

696
00:34:01.205 --> 00:34:04.065
<00:34:01.205>that's, <00:34:01.405>um, <00:34:01.605>that <00:34:01.804>can <00:34:02.004>match <00:34:02.205>the, <00:34:02.405>um, <00:34:02.605>the,

697
00:34:04.125 --> 00:34:05.665
<00:34:04.125>the <00:34:04.402>competitors <00:34:04.679>in <00:34:04.956>the <00:34:05.233>fiat <00:34:05.511>world.

698
00:34:06.045 --> 00:34:08.305
<00:34:06.045>And <00:34:06.200>not <00:34:06.356>only <00:34:06.511>that, <00:34:06.667>but <00:34:06.822>the, <00:34:06.978>uh, <00:34:07.133>the, <00:34:07.289>the <00:34:07.445>miner

699
00:34:08.305 --> 00:34:10.305
<00:34:08.304>that <00:34:08.432>you <00:34:08.559>send <00:34:08.686>it <00:34:08.814>to, <00:34:08.941>and <00:34:09.068>in <00:34:09.195>fact, <00:34:09.323>you <00:34:09.450>could <00:34:09.577>send <00:34:09.705>it

700
00:34:10.305 --> 00:34:11.625
<00:34:10.304>to <00:34:10.474>more <00:34:10.644>than <00:34:10.814>one <00:34:10.983>if <00:34:11.153>you <00:34:11.323>want <00:34:11.493>to,

701
00:34:11.805 --> 00:34:13.385
<00:34:11.804>can <00:34:12.038>actually <00:34:12.271>send <00:34:12.504>you <00:34:12.738>a <00:34:12.971>response <00:34:13.205>back

702
00:34:13.385 --> 00:34:15.225
<00:34:13.385>and <00:34:13.585>tell <00:34:13.785>you <00:34:13.985>the <00:34:14.185>status <00:34:14.385>of <00:34:14.585>your <00:34:14.785>transaction.

703
00:34:15.725 --> 00:34:16.905
<00:34:15.725>So <00:34:15.990>we'll <00:34:16.255>get <00:34:16.521>further <00:34:16.787>into

704
00:34:16.905 --> 00:34:19.545
<00:34:16.905>that <00:34:17.032>in <00:34:17.159>a <00:34:17.286>little <00:34:17.414>bit <00:34:17.541>when <00:34:17.668>we'll <00:34:17.795>talk <00:34:17.923>about <00:34:18.050>the <00:34:18.177>merchant <00:34:18.305>API.

705
00:34:20.925 --> 00:34:23.945
<00:34:20.925>But, <00:34:21.125>um, <00:34:21.325>back <00:34:21.525>to <00:34:21.725>the, <00:34:21.925>the <00:34:22.125>overarching <00:34:22.325>topic,

706
00:34:24.145 --> 00:34:25.345
<00:34:24.145>I <00:34:24.360>guess, <00:34:24.576>which <00:34:24.792>is <00:34:25.009>big <00:34:25.225>blocks.

707
00:34:25.455 --> 00:34:26.945
<00:34:25.455>It's <00:34:25.678>big <00:34:25.902>blocks <00:34:26.125>that <00:34:26.349>make <00:34:26.572>this <00:34:26.796>possible.

708
00:34:26.975 --> 00:34:29.905
<00:34:26.975>It's <00:34:27.130>big <00:34:27.286>blocks <00:34:27.441>that <00:34:27.597>drive <00:34:27.752>that <00:34:27.908>economic <00:34:28.063>model <00:34:28.219>that's, <00:34:28.375>um,

709
00:34:30.095 --> 00:34:33.225
<00:34:30.094>that, <00:34:30.294>uh, <00:34:30.495>incentivize <00:34:30.694>miners <00:34:30.895>to, <00:34:31.094>to <00:34:31.294>form <00:34:31.495>this,

710
00:34:33.405 --> 00:34:34.465
<00:34:33.405>um, <00:34:33.882>this <00:34:34.359>backbone.

711
00:34:35.365 --> 00:34:37.465
<00:34:35.364>Um, <00:34:35.564>and <00:34:35.764>this <00:34:35.964>is <00:34:36.165>just, <00:34:36.364>uh, <00:34:36.564>an <00:34:36.764>example.

712
00:34:37.645 --> 00:34:39.505
<00:34:37.645>Uh, <00:34:37.800>it's, <00:34:37.956>uh, <00:34:38.111>it's <00:34:38.267>one <00:34:38.422>of <00:34:38.578>the <00:34:38.733>blocks <00:34:38.889>I <00:34:39.045>think

713
00:34:39.505 --> 00:34:40.705
<00:34:39.505>that <00:34:39.775>Jimmy <00:34:40.045>actually <00:34:40.315>showed <00:34:40.585>you

714
00:34:40.705 --> 00:34:44.345
<00:34:40.705>before, <00:34:40.904>uh, <00:34:41.105>showing <00:34:41.304>the, <00:34:41.505>uh, <00:34:41.705>the <00:34:41.904>370 <00:34:42.105>megabytes

715
00:34:44.345 --> 00:34:45.985
<00:34:44.344>and <00:34:44.811>1.3 <00:34:45.278>million <00:34:45.745>transactions.

716
00:34:48.445 --> 00:34:51.985
<00:34:48.445>Um, <00:34:48.585>these <00:34:48.725>are <00:34:48.865>a <00:34:49.005>couple <00:34:49.145>of <00:34:49.285>charts <00:34:49.425>that <00:34:49.565>show <00:34:49.705>the <00:34:49.845>trajectory

717
00:34:52.085 --> 00:34:54.425
<00:34:52.085>of <00:34:52.284>Bitcoin <00:34:52.485>SV <00:34:52.685>over <00:34:52.885>the <00:34:53.085>last <00:34:53.284>18 <00:34:53.485>months.

718
00:34:54.725 --> 00:34:57.385
<00:34:54.725>Um, <00:34:54.864>on <00:34:55.005>the <00:34:55.145>top <00:34:55.284>here, <00:34:55.424>um, <00:34:55.565>this <00:34:55.705>is <00:34:55.844>actually <00:34:55.985>a <00:34:56.125>chart

719
00:34:57.405 --> 00:34:59.865
<00:34:57.405>of <00:34:57.580>the <00:34:57.755>largest <00:34:57.930>block <00:34:58.105>in <00:34:58.280>any <00:34:58.455>24 <00:34:58.630>hour <00:34:58.805>period.

720
00:35:00.445 --> 00:35:03.705
<00:35:00.445>Um, <00:35:00.585>the <00:35:00.725>actual <00:35:00.865>average, <00:35:01.005>uh, <00:35:01.145>it <00:35:01.285>follows <00:35:01.425>the <00:35:01.565>same <00:35:01.705>trend, <00:35:01.845>um,

721
00:35:03.765 --> 00:35:05.905
<00:35:03.765>but <00:35:03.940>the <00:35:04.115>number <00:35:04.290>is, <00:35:04.464>is <00:35:04.640>obviously <00:35:04.815>a <00:35:04.990>bit <00:35:05.165>lower.

722
00:35:05.975 --> 00:35:09.105
<00:35:05.975>It's, <00:35:06.174>it's <00:35:06.375>still <00:35:06.575>running <00:35:06.775>at <00:35:06.975>about <00:35:07.174>double <00:35:07.375>BTC,

723
00:35:09.105 --> 00:35:11.265
<00:35:09.105>and <00:35:09.245>as <00:35:09.385>far <00:35:09.525>as <00:35:09.665>I <00:35:09.805>know, <00:35:09.945>is <00:35:10.085>the <00:35:10.225>largest <00:35:10.365>of <00:35:10.505>any

724
00:35:11.265 --> 00:35:12.505
<00:35:11.265>of <00:35:11.488>the <00:35:11.711>blockchains <00:35:11.934>in <00:35:12.157>the <00:35:12.381>world.

725
00:35:13.085 --> 00:35:14.505
<00:35:13.085>But <00:35:13.298>you <00:35:13.511>can <00:35:13.724>see <00:35:13.937>that <00:35:14.150>steady <00:35:14.363>growth.

726
00:35:14.695 --> 00:35:16.505
<00:35:14.695>It's, <00:35:14.975>um, <00:35:15.255>it's <00:35:15.535>a <00:35:15.815>logarithmic <00:35:16.095>curve.

727
00:35:16.525 --> 00:35:18.865
<00:35:16.525>If <00:35:16.652>this <00:35:16.779>was <00:35:16.906>a <00:35:17.034>linear <00:35:17.161>graph, <00:35:17.288>then <00:35:17.415>it <00:35:17.543>would <00:35:17.670>be <00:35:17.797>a <00:35:17.925>much,

728
00:35:18.865 --> 00:35:20.105
<00:35:18.865>much <00:35:19.237>steeper <00:35:19.609>angle <00:35:19.981>and,

729
00:35:20.125 --> 00:35:22.225
<00:35:20.125>and <00:35:20.300>it <00:35:20.475>probably <00:35:20.650>wouldn't <00:35:20.825>fit, <00:35:21.000>uh, <00:35:21.175>on <00:35:21.350>the <00:35:21.525>page.

730
00:35:22.565 --> 00:35:26.225
<00:35:22.565>Um, <00:35:22.798>but, <00:35:23.031>um, <00:35:23.265>that <00:35:23.498>capacity <00:35:23.731>is <00:35:23.965>there.

731
00:35:26.295 --> 00:35:29.825
<00:35:26.295>It's <00:35:26.450>been <00:35:26.606>demonstrated <00:35:26.761>day <00:35:26.917>in, <00:35:27.072>day <00:35:27.228>out, <00:35:27.383>um, <00:35:27.539>since, <00:35:27.695>um,

732
00:35:29.875 --> 00:35:33.265
<00:35:29.875>since <00:35:30.075>Bitcoin <00:35:30.275>sv, <00:35:30.475>uh, <00:35:30.675>emerged <00:35:30.875>onto <00:35:31.075>the <00:35:31.275>scene.

733
00:35:33.485 --> 00:35:36.305
<00:35:33.485>Um, <00:35:33.660>and <00:35:33.835>down <00:35:34.010>below <00:35:34.185>again, <00:35:34.360>is <00:35:34.535>the <00:35:34.710>same <00:35:34.885>graph,

734
00:35:36.325 --> 00:35:37.725
<00:35:36.325>but <00:35:36.535>this <00:35:36.745>time <00:35:36.955>we're <00:35:37.165>measuring <00:35:37.375>the <00:35:37.585>number

735
00:35:37.725 --> 00:35:39.045
<00:35:37.725>of <00:35:38.121>transactions <00:35:38.517>per <00:35:38.913>block.

736
00:35:39.545 --> 00:35:40.685
<00:35:39.545>Um, <00:35:39.887>so <00:35:40.229>it's <00:35:40.571>growing.

737
00:35:41.025 --> 00:35:44.925
<00:35:41.025>Um, <00:35:41.152>and, <00:35:41.279>uh, <00:35:41.406>that <00:35:41.534>keeps <00:35:41.661>the <00:35:41.788>Bitcoin <00:35:41.915>SV <00:35:42.043>team <00:35:42.170>on <00:35:42.297>our <00:35:42.425>toes,

738
00:35:44.925 --> 00:35:46.325
<00:35:44.925>of <00:35:45.135>course, <00:35:45.345>because <00:35:45.555>we've <00:35:45.765>gotta <00:35:45.975>make <00:35:46.185>sure

739
00:35:46.325 --> 00:35:49.365
<00:35:46.325>that <00:35:46.524>the <00:35:46.725>software <00:35:46.924>can <00:35:47.125>always, <00:35:47.325>uh, <00:35:47.524>supply, <00:35:47.725>uh,

740
00:35:49.505 --> 00:35:51.885
<00:35:49.505>as <00:35:49.680>much <00:35:49.855>capacity <00:35:50.030>as, <00:35:50.205>as <00:35:50.380>there <00:35:50.555>is <00:35:50.730>demand <00:35:50.905>for.

741
00:35:52.065 --> 00:35:53.525
<00:35:52.065>Uh, <00:35:52.393>and <00:35:52.722>we're <00:35:53.050>fairly <00:35:53.379>comfortable,

742
00:35:53.615 --> 00:35:55.885
<00:35:53.615>we're <00:35:53.848>about <00:35:54.081>a <00:35:54.314>hundred <00:35:54.548>times, <00:35:54.781>uh, <00:35:55.015>uh,

743
00:35:55.885 --> 00:35:57.565
<00:35:55.885>further <00:35:56.085>in <00:35:56.285>front <00:35:56.485>than <00:35:56.685>we <00:35:56.885>need <00:35:57.085>to <00:35:57.285>be.

744
00:35:57.665 --> 00:36:01.805
<00:35:57.665>But, <00:35:57.805>um, <00:35:57.945>um, <00:35:58.085>it <00:35:58.225>pays <00:35:58.365>for <00:35:58.505>us <00:35:58.645>to <00:35:58.785>always <00:35:58.925>remain <00:35:59.065>vigilant.

745
00:36:02.305 --> 00:36:04.125
<00:36:02.305>So <00:36:02.504>why <00:36:02.705>do <00:36:02.904>big <00:36:03.105>blocks <00:36:03.305>matter <00:36:03.504>for <00:36:03.705>you?

746
00:36:04.595 --> 00:36:06.285
<00:36:04.595>Well, <00:36:04.770>the <00:36:04.944>fact <00:36:05.120>that <00:36:05.294>you <00:36:05.470>can <00:36:05.645>never <00:36:05.819>run <00:36:05.995>out

747
00:36:06.285 --> 00:36:09.165
<00:36:06.285>of <00:36:06.440>capacity <00:36:06.596>is <00:36:06.751>very <00:36:06.907>important, <00:36:07.062>uh, <00:36:07.218>from <00:36:07.373>a <00:36:07.529>fee <00:36:07.685>perspective,

748
00:36:09.165 --> 00:36:12.885
<00:36:09.165>because <00:36:09.340>it's <00:36:09.515>only <00:36:09.690>when <00:36:09.865>blockchains <00:36:10.040>run <00:36:10.215>out <00:36:10.390>of <00:36:10.565>capacity

749
00:36:12.885 --> 00:36:15.605
<00:36:12.885>that <00:36:13.040>you <00:36:13.196>start <00:36:13.351>to <00:36:13.507>see <00:36:13.662>huge <00:36:13.818>spikes <00:36:13.973>in, <00:36:14.129>in <00:36:14.285>fees.

750
00:36:15.675 --> 00:36:17.125
<00:36:15.675>There's <00:36:16.001>not <00:36:16.327>enough <00:36:16.653>for <00:36:16.980>everybody.

751
00:36:17.265 --> 00:36:19.165
<00:36:17.265>So <00:36:17.498>people <00:36:17.731>start <00:36:17.964>bidding <00:36:18.198>against <00:36:18.431>each <00:36:18.665>other

752
00:36:19.305 --> 00:36:21.645
<00:36:19.305>and <00:36:19.460>they <00:36:19.616>start <00:36:19.771>bidding <00:36:19.927>the <00:36:20.082>price <00:36:20.238>of <00:36:20.393>the <00:36:20.549>transaction <00:36:20.705>up.

753
00:36:22.225 --> 00:36:24.725
<00:36:22.225>Um, <00:36:22.400>that <00:36:22.575>should <00:36:22.750>never <00:36:22.924>happen, <00:36:23.100>uh, <00:36:23.275>on <00:36:23.450>a <00:36:23.625>blockchain.

754
00:36:24.725 --> 00:36:27.285
<00:36:24.725>There <00:36:24.865>should <00:36:25.005>be <00:36:25.145>a <00:36:25.285>market, <00:36:25.424>but, <00:36:25.565>uh, <00:36:25.705>the <00:36:25.845>market <00:36:25.985>is, <00:36:26.125>uh,

755
00:36:27.285 --> 00:36:29.645
<00:36:27.285>is <00:36:27.440>there <00:36:27.596>to <00:36:27.751>determine <00:36:27.907>how <00:36:28.062>low <00:36:28.218>fees <00:36:28.373>can <00:36:28.529>go, <00:36:28.685>not

756
00:36:29.645 --> 00:36:30.765
<00:36:29.645>how <00:36:29.897>high <00:36:30.149>they <00:36:30.401>can <00:36:30.653>go.

757
00:36:31.345 --> 00:36:34.045
<00:36:31.345>And <00:36:31.500>of <00:36:31.656>course, <00:36:31.811>from <00:36:31.967>a <00:36:32.122>developer's <00:36:32.278>point <00:36:32.433>of <00:36:32.589>view, <00:36:32.745>um,

758
00:36:34.145 --> 00:36:36.285
<00:36:34.145>you <00:36:34.320>don't <00:36:34.495>wanna <00:36:34.670>be <00:36:34.845>looking <00:36:35.020>over <00:36:35.195>your <00:36:35.370>shoulder <00:36:35.545>constantly

759
00:36:36.345 --> 00:36:39.365
<00:36:36.345>and <00:36:36.544>counting <00:36:36.745>how <00:36:36.944>many <00:36:37.145>transactions <00:36:37.345>your <00:36:37.544>application <00:36:37.745>is

760
00:36:39.365 --> 00:36:42.845
<00:36:39.365>making <00:36:39.504>and <00:36:39.645>how <00:36:39.785>many <00:36:39.924>bytes, <00:36:40.064>uh, <00:36:40.205>are, <00:36:40.345>are <00:36:40.484>in <00:36:40.625>each <00:36:40.765>transaction.

761
00:36:43.345 --> 00:36:44.765
<00:36:43.345>Uh, <00:36:43.527>you <00:36:43.710>might <00:36:43.892>even <00:36:44.075>want <00:36:44.257>to <00:36:44.440>be <00:36:44.623>able

762
00:36:44.765 --> 00:36:46.765
<00:36:44.765>to <00:36:44.998>use <00:36:45.231>many <00:36:45.464>transactions <00:36:45.698>in, <00:36:45.931>in <00:36:46.165>cases

763
00:36:46.765 --> 00:36:48.645
<00:36:46.765>where <00:36:46.964>you've <00:36:47.165>traditionally <00:36:47.365>been <00:36:47.565>told <00:36:47.765>that <00:36:47.964>you <00:36:48.165>have

764
00:36:48.645 --> 00:36:51.605
<00:36:48.645>to <00:36:48.820>use <00:36:48.995>one, <00:36:49.170>imagine <00:36:49.345>a <00:36:49.520>large <00:36:49.695>payment <00:36:49.870>of <00:36:50.045>a,

765
00:36:52.095 --> 00:36:53.285
<00:36:52.095>let's <00:36:52.362>say, <00:36:52.630>a <00:36:52.898>thousand <00:36:53.165>dollars.

766
00:36:53.425 --> 00:36:55.925
<00:36:53.425>And, <00:36:53.541>um, <00:36:53.658>you <00:36:53.775>don't <00:36:53.891>want <00:36:54.008>it <00:36:54.125>to <00:36:54.241>be <00:36:54.358>known <00:36:54.475>to <00:36:54.591>the <00:36:54.708>whole <00:36:54.825>world.

767
00:36:56.265 --> 00:36:58.325
<00:36:56.265>Um, <00:36:56.964>well, <00:36:57.665>something

768
00:36:58.325 --> 00:37:00.405
<00:36:58.325>that <00:36:58.464>you <00:36:58.605>could <00:36:58.745>do <00:36:58.884>is <00:36:59.024>break <00:36:59.165>it <00:36:59.305>up <00:36:59.444>into <00:36:59.585>20 <00:36:59.725>small,

769
00:37:00.405 --> 00:37:02.765
<00:37:00.405>completely <00:37:00.685>separate <00:37:00.965>transactions, <00:37:01.245>which <00:37:01.525>is <00:37:01.805>something

770
00:37:02.765 --> 00:37:05.725
<00:37:02.765>that <00:37:02.920>would <00:37:03.076>be <00:37:03.231>unthinkable, <00:37:03.387>um, <00:37:03.542>on, <00:37:03.698>uh, <00:37:03.853>on, <00:37:04.009>for <00:37:04.165>example,

771
00:37:05.785 --> 00:37:08.045
<00:37:05.785>the <00:37:06.065>TC <00:37:06.345>or, <00:37:06.625>or <00:37:06.904>Ethereum, <00:37:07.185>uh,

772
00:37:08.045 --> 00:37:09.885
<00:37:08.045>because <00:37:08.395>of <00:37:08.745>those <00:37:09.095>transaction <00:37:09.445>fees.

773
00:37:11.185 --> 00:37:14.805
<00:37:11.185>So <00:37:11.325>big <00:37:11.465>transactions <00:37:11.605>enable <00:37:11.745>all <00:37:11.884>sorts <00:37:12.025>of <00:37:12.165>use <00:37:12.305>cases <00:37:12.445>that, <00:37:12.585>uh,

774
00:37:14.835 --> 00:37:17.845
<00:37:14.835>that <00:37:14.975>have, <00:37:15.115>uh, <00:37:15.255>that <00:37:15.395>are <00:37:15.535>not <00:37:15.675>at <00:37:15.815>all <00:37:15.955>common <00:37:16.095>on, <00:37:16.235>uh,

775
00:37:17.905 --> 00:37:19.085
<00:37:17.905>on <00:37:18.259>blockchains <00:37:18.613>in <00:37:18.967>general.

776
00:37:19.755 --> 00:37:21.965
<00:37:19.755>I'll <00:37:19.930>just <00:37:20.105>pick <00:37:20.280>a <00:37:20.455>couple <00:37:20.630>out <00:37:20.805>there, <00:37:20.980>uh, <00:37:21.155>bits.

777
00:37:21.965 --> 00:37:25.085
<00:37:21.965>Instagram <00:37:22.140>is, <00:37:22.315>uh, <00:37:22.490>sounds <00:37:22.665>very <00:37:22.840>much <00:37:23.015>like <00:37:23.190>Instagram, <00:37:23.365>um,

778
00:37:25.225 --> 00:37:26.925
<00:37:25.225>and <00:37:25.380>it's <00:37:25.536>much <00:37:25.691>like <00:37:25.847>what <00:37:26.002>you <00:37:26.158>would <00:37:26.313>think <00:37:26.469>it <00:37:26.625>is.

779
00:37:27.465 --> 00:37:30.325
<00:37:27.465>Um, <00:37:27.698>it's, <00:37:27.931>uh, <00:37:28.165>you <00:37:28.398>know, <00:37:28.631>image <00:37:28.865>images,

780
00:37:30.355 --> 00:37:31.925
<00:37:30.355>your <00:37:30.635>own <00:37:30.915>images <00:37:31.195>thought <00:37:31.475>on <00:37:31.755>change,

781
00:37:32.115 --> 00:37:35.725
<00:37:32.115>whether <00:37:32.290>SV <00:37:32.464>is <00:37:32.640>an <00:37:32.814>archival <00:37:32.990>service, <00:37:33.165>uh, <00:37:33.339>which, <00:37:33.515>uh,

782
00:37:35.965 --> 00:37:39.165
<00:37:35.965>I <00:37:36.105>think <00:37:36.245>is <00:37:36.385>gonna <00:37:36.525>be <00:37:36.665>very <00:37:36.805>useful <00:37:36.945>for <00:37:37.085>researchers <00:37:37.225>in <00:37:37.365>50

783
00:37:39.185 --> 00:37:40.285
<00:37:39.185>or <00:37:39.432>a <00:37:39.680>hundred <00:37:39.927>years <00:37:40.174>time

784
00:37:40.285 --> 00:37:41.925
<00:37:40.285>because, <00:37:40.634>um, <00:37:40.984>the <00:37:41.335>weather <00:37:41.685>data

785
00:37:41.925 --> 00:37:44.285
<00:37:41.925>that's <00:37:42.100>being <00:37:42.275>put <00:37:42.450>on <00:37:42.625>chain <00:37:42.800>is, <00:37:42.975>uh, <00:37:43.150>is <00:37:43.325>immutable.

786
00:37:44.285 --> 00:37:45.325
<00:37:44.285>That <00:37:44.596>can't <00:37:44.908>be <00:37:45.221>changed.

787
00:37:46.065 --> 00:37:50.205
<00:37:46.065>Um, <00:37:46.192>if <00:37:46.319>anyone <00:37:46.446>ever <00:37:46.574>tries <00:37:46.701>to, <00:37:46.828>uh, <00:37:46.955>use <00:37:47.083>a <00:37:47.210>fake <00:37:47.337>version <00:37:47.465>of

788
00:37:50.205 --> 00:37:52.685
<00:37:50.205>that <00:37:50.380>data, <00:37:50.555>it's, <00:37:50.730>it's <00:37:50.904>trivial <00:37:51.080>for <00:37:51.255>anyone <00:37:51.430>to <00:37:51.605>prove.

789
00:37:53.905 --> 00:37:58.765
<00:37:53.905>Um, <00:37:54.045>and <00:37:54.185>of <00:37:54.325>course, <00:37:54.465>crypto <00:37:54.605>fights, <00:37:54.745>uh, <00:37:54.885>I <00:37:55.025>guess <00:37:55.165>the, <00:37:55.305>the,

790
00:37:59.305 --> 00:38:02.005
<00:37:59.305>the <00:37:59.480>more <00:37:59.654>fun <00:37:59.830>end <00:38:00.004>of, <00:38:00.180>uh, <00:38:00.355>of <00:38:00.529>application <00:38:00.705>development

791
00:38:02.005 --> 00:38:04.125
<00:38:02.005>that <00:38:02.180>you <00:38:02.355>can <00:38:02.530>hook <00:38:02.705>into <00:38:02.880>a <00:38:03.055>blockchain <00:38:03.230>for <00:38:03.405>all

792
00:38:04.385 --> 00:38:07.005
<00:38:04.385>to <00:38:04.560>gain <00:38:04.735>all <00:38:04.910>sorts <00:38:05.085>of, <00:38:05.260>uh, <00:38:05.435>benefits <00:38:05.610>of <00:38:05.785>immutability.

793
00:38:07.865 --> 00:38:12.005
<00:38:07.865>Uh, <00:38:07.992>this <00:38:08.119>last <00:38:08.246>example <00:38:08.374>is, <00:38:08.501>um, <00:38:08.628>a <00:38:08.755>a <00:38:08.883>little <00:38:09.010>bit <00:38:09.137>drier, <00:38:09.265>uh,

794
00:38:12.305 --> 00:38:16.445
<00:38:12.305>but, <00:38:12.444>uh, <00:38:12.585>it's <00:38:12.725>a <00:38:12.865>really <00:38:13.004>good <00:38:13.145>example <00:38:13.285>of <00:38:13.424>why <00:38:13.565>scale <00:38:13.705>matters,

795
00:38:16.785 --> 00:38:20.205
<00:38:16.785>uh, <00:38:16.940>in <00:38:17.096>terms <00:38:17.251>of <00:38:17.407>enabling <00:38:17.562>use <00:38:17.718>cases <00:38:17.873>that, <00:38:18.029>um, <00:38:18.185>that

796
00:38:20.205 --> 00:38:21.645
<00:38:20.205>otherwise <00:38:20.636>would <00:38:21.069>be <00:38:21.501>impossible.

797
00:38:22.245 --> 00:38:25.205
<00:38:22.245>EHR <00:38:22.400>data <00:38:22.556>is <00:38:22.711>a <00:38:22.867>big <00:38:23.022>player <00:38:23.178>in <00:38:23.333>the <00:38:23.489>USAU <00:38:23.645>US

798
00:38:25.205 --> 00:38:26.365
<00:38:25.205>pharmaceutical <00:38:26.249>industry.

799
00:38:26.985 --> 00:38:29.525
<00:38:26.985>Um, <00:38:27.265>they're <00:38:27.545>addressing <00:38:27.825>a <00:38:28.105>specific <00:38:28.385>problem,

800
00:38:29.585 --> 00:38:31.565
<00:38:29.585>the <00:38:29.935>opioid <00:38:30.285>crisis, <00:38:30.635>which, <00:38:30.985>um,

801
00:38:31.705 --> 00:38:34.245
<00:38:31.705>is <00:38:31.832>in <00:38:31.959>the <00:38:32.086>news <00:38:32.214>pretty <00:38:32.341>much <00:38:32.468>every <00:38:32.595>day <00:38:32.723>in <00:38:32.850>the <00:38:32.977>United <00:38:33.105>States.

802
00:38:34.625 --> 00:38:36.325
<00:38:34.625>Um, <00:38:34.858>it's <00:38:35.091>killing <00:38:35.325>a <00:38:35.558>lot <00:38:35.791>of <00:38:36.025>people.

803
00:38:36.985 --> 00:38:40.645
<00:38:36.985>Um, <00:38:37.125>and <00:38:37.265>they're <00:38:37.405>trialing <00:38:37.545>a <00:38:37.685>solution <00:38:37.825>right <00:38:37.965>now <00:38:38.105>with <00:38:38.245>n <00:38:38.385>Chain,

804
00:38:40.665 --> 00:38:44.565
<00:38:40.665>in <00:38:40.820>fact, <00:38:40.976>um, <00:38:41.131>uh, <00:38:41.287>for <00:38:41.442>dealing <00:38:41.598>with <00:38:41.753>this <00:38:41.909>prescription <00:38:42.065>data,

805
00:38:45.105 --> 00:38:46.405
<00:38:45.105>uh, <00:38:45.339>in <00:38:45.573>an <00:38:45.807>on <00:38:46.041>chain <00:38:46.275>way.

806
00:38:46.545 --> 00:38:49.885
<00:38:46.545>Now, <00:38:46.672>this <00:38:46.799>is <00:38:46.926>health <00:38:47.054>records, <00:38:47.181>so <00:38:47.308>of <00:38:47.435>course <00:38:47.563>there <00:38:47.690>are, <00:38:47.817>um, <00:38:47.945>uh,

807
00:38:49.885 --> 00:38:54.245
<00:38:49.885>privacy <00:38:50.060>is, <00:38:50.235>is <00:38:50.410>paramount, <00:38:50.585>which, <00:38:50.760>um, <00:38:50.935>um, <00:38:51.110>whilst <00:38:51.285>they,

808
00:38:54.405 --> 00:38:55.765
<00:38:54.405>I <00:38:54.579>won't <00:38:54.754>go <00:38:54.929>into <00:38:55.104>all <00:38:55.279>of <00:38:55.454>the <00:38:55.629>details

809
00:38:56.045 --> 00:38:58.485
<00:38:56.045>'cause <00:38:56.172>it <00:38:56.299>would <00:38:56.426>take <00:38:56.554>too <00:38:56.681>long, <00:38:56.808>but, <00:38:56.935>um, <00:38:57.063>it, <00:38:57.190>it, <00:38:57.317>it <00:38:57.445>shows

810
00:38:58.555 --> 00:39:00.925
<00:38:58.555>that, <00:38:58.730>uh, <00:38:58.904>the <00:38:59.080>privacy <00:38:59.254>of <00:38:59.430>on <00:38:59.605>chain <00:38:59.779>data <00:38:59.955>is,

811
00:39:00.985 --> 00:39:02.205
<00:39:00.985>is <00:39:01.534>entirely <00:39:02.083>possible.

812
00:39:02.865 --> 00:39:05.365
<00:39:02.865>Um, <00:39:03.064>but <00:39:03.265>one <00:39:03.464>of <00:39:03.665>the <00:39:03.865>key <00:39:04.064>concerns, <00:39:04.265>uh,

813
00:39:05.395 --> 00:39:07.685
<00:39:05.395>that <00:39:05.570>they <00:39:05.745>had <00:39:05.920>in <00:39:06.095>looking <00:39:06.270>at <00:39:06.445>a <00:39:06.620>blockchain <00:39:06.795>solution

814
00:39:07.685 --> 00:39:10.805
<00:39:07.685>with <00:39:07.860>capacity, <00:39:08.035>when <00:39:08.210>this <00:39:08.384>pilot <00:39:08.560>is <00:39:08.735>rolled <00:39:08.910>out <00:39:09.085>to,

815
00:39:10.905 --> 00:39:12.205
<00:39:10.905>to <00:39:11.197>a <00:39:11.490>full <00:39:11.782>scale <00:39:12.075>solution,

816
00:39:12.205 --> 00:39:15.005
<00:39:12.205>they're <00:39:12.438>expecting <00:39:12.671>3.2 <00:39:12.904>million <00:39:13.138>transactions <00:39:13.371>per <00:39:13.605>day.

817
00:39:15.705 --> 00:39:16.725
<00:39:15.705>Now, <00:39:15.888>how <00:39:16.072>long <00:39:16.255>would <00:39:16.439>that <00:39:16.623>take

818
00:39:16.725 --> 00:39:18.485
<00:39:16.725>to <00:39:17.075>process <00:39:17.424>on <00:39:17.775>various <00:39:18.125>blockchains

819
00:39:18.485 --> 00:39:20.365
<00:39:18.485>with <00:39:18.718>the <00:39:18.951>scale <00:39:19.185>limitations <00:39:19.418>that <00:39:19.651>they <00:39:19.885>have?

820
00:39:20.475 --> 00:39:22.205
<00:39:20.475>Well, <00:39:20.674>these <00:39:20.875>are, <00:39:21.075>these <00:39:21.275>are <00:39:21.475>the <00:39:21.674>rough <00:39:21.875>numbers.

821
00:39:22.425 --> 00:39:24.805
<00:39:22.425>Uh, <00:39:22.625>Bitcoin <00:39:22.825>would <00:39:23.025>take <00:39:23.225>44 <00:39:23.425>days <00:39:23.625>to <00:39:23.825>process,

822
00:39:24.955 --> 00:39:26.645
<00:39:24.955>just <00:39:25.188>one <00:39:25.421>day <00:39:25.654>is <00:39:25.888>worth <00:39:26.121>of <00:39:26.355>transactions.

823
00:39:27.385 --> 00:39:29.405
<00:39:27.385>Uh, <00:39:27.618>Ethereum, <00:39:27.851>uh, <00:39:28.085>quite <00:39:28.318>a <00:39:28.551>bit <00:39:28.785>better,

824
00:39:29.425 --> 00:39:33.085
<00:39:29.425>but <00:39:29.565>still, <00:39:29.705>um, <00:39:29.845>um, <00:39:29.985>they, <00:39:30.125>they <00:39:30.265>would <00:39:30.405>need <00:39:30.545>a <00:39:30.685>time <00:39:30.825>machine.

825
00:39:33.345 --> 00:39:36.445
<00:39:33.345>Um, <00:39:33.500>since <00:39:33.656>it's <00:39:33.811>a <00:39:33.967>little <00:39:34.122>over <00:39:34.278>two <00:39:34.433>days <00:39:34.589>right <00:39:34.745>now,

826
00:39:36.445 --> 00:39:39.205
<00:39:36.445>Bitcoin <00:39:36.600>SV <00:39:36.756>can <00:39:36.911>chew <00:39:37.067>through <00:39:37.222>that <00:39:37.378>many <00:39:37.533>in <00:39:37.689>32 <00:39:37.845>minutes.

827
00:39:39.625 --> 00:39:43.085
<00:39:39.625>Um, <00:39:39.780>and, <00:39:39.936>uh, <00:39:40.091>with <00:39:40.247>Terra <00:39:40.402>note, <00:39:40.558>of <00:39:40.713>course, <00:39:40.869>um, <00:39:41.025>uh,

828
00:39:43.105 --> 00:39:45.365
<00:39:43.105>it <00:39:43.232>will <00:39:43.359>eat <00:39:43.486>them <00:39:43.614>all <00:39:43.741>up, <00:39:43.868>you <00:39:43.995>know, <00:39:44.123>in <00:39:44.250>a <00:39:44.377>single <00:39:44.505>block.

829
00:39:46.905 --> 00:39:49.805
<00:39:46.905>So <00:39:47.045>this <00:39:47.185>last <00:39:47.325>section <00:39:47.465>is, <00:39:47.605>um, <00:39:47.745>it <00:39:47.885>is <00:39:48.025>probably <00:39:48.165>the <00:39:48.305>part

830
00:39:49.805 --> 00:39:51.005
<00:39:49.805>that's <00:39:50.075>closest <00:39:50.345>to <00:39:50.615>my <00:39:50.885>heart.

831
00:39:51.285 --> 00:39:53.005
<00:39:51.285>'cause <00:39:51.412>I <00:39:51.539>have <00:39:51.666>to <00:39:51.794>admit <00:39:51.921>I'm <00:39:52.048>a <00:39:52.175>bit <00:39:52.303>of <00:39:52.430>a <00:39:52.557>script <00:39:52.685>nerd.

832
00:39:53.505 --> 00:39:55.445
<00:39:53.505>Um, <00:39:53.971>script <00:39:54.438>is <00:39:54.905>the,

833
00:39:55.545 --> 00:39:57.525
<00:39:55.545>the <00:39:55.825>programming <00:39:56.105>language <00:39:56.385>built <00:39:56.665>into <00:39:56.945>Bitcoin.

834
00:39:57.705 --> 00:39:59.805
<00:39:57.705>Uh, <00:39:57.938>for <00:39:58.171>anyone <00:39:58.404>who's <00:39:58.638>familiar <00:39:58.871>with <00:39:59.105>Ethereum,

835
00:39:59.805 --> 00:40:03.405
<00:39:59.805>you're <00:39:59.980>probably <00:40:00.154>familiar <00:40:00.330>with <00:40:00.504>Solidity, <00:40:00.680>um, <00:40:00.855>which <00:40:01.029>is, <00:40:01.205>uh,

836
00:40:03.405 --> 00:40:05.165
<00:40:03.405>something <00:40:03.685>that <00:40:03.965>Ethereum <00:40:04.245>did <00:40:04.525>incredibly <00:40:04.805>well.

837
00:40:05.425 --> 00:40:08.885
<00:40:05.425>Um, <00:40:05.580>it's <00:40:05.736>a <00:40:05.891>really, <00:40:06.047>uh, <00:40:06.202>easy <00:40:06.358>to <00:40:06.513>use <00:40:06.669>programming <00:40:06.825>language.

838
00:40:09.305 --> 00:40:12.565
<00:40:09.305>But <00:40:09.460>when <00:40:09.616>you <00:40:09.771>think <00:40:09.927>about <00:40:10.082>programming <00:40:10.238>on, <00:40:10.393>um, <00:40:10.549>on <00:40:10.705>Bitcoin

839
00:40:13.085 --> 00:40:15.005
<00:40:13.085>directly <00:40:13.318>in <00:40:13.551>script, <00:40:13.785>uh, <00:40:14.018>you <00:40:14.251>probably <00:40:14.485>think

840
00:40:15.005 --> 00:40:16.405
<00:40:15.005>of <00:40:15.320>something <00:40:15.635>ugly <00:40:15.950>and <00:40:16.265>horrendous.

841
00:40:16.545 --> 00:40:17.765
<00:40:16.545>Uh, <00:40:16.764>a <00:40:16.984>little <00:40:17.203>bit <00:40:17.423>like <00:40:17.643>this.

842
00:40:18.465 --> 00:40:21.845
<00:40:18.465>Um, <00:40:18.665>script <00:40:18.865>is <00:40:19.065>basically <00:40:19.265>an <00:40:19.465>assembly <00:40:19.665>type <00:40:19.865>language

843
00:40:21.985 --> 00:40:24.285
<00:40:21.985>or <00:40:22.218>a, <00:40:22.451>a <00:40:22.685>byte <00:40:22.918>code <00:40:23.151>type <00:40:23.385>language.

844
00:40:24.345 --> 00:40:26.805
<00:40:24.345>And <00:40:24.500>in <00:40:24.656>fact, <00:40:24.811>Ethereum <00:40:24.967>has <00:40:25.122>its <00:40:25.278>own <00:40:25.433>parallel <00:40:25.589>to <00:40:25.745>this.

845
00:40:27.225 --> 00:40:30.565
<00:40:27.225>Uh, <00:40:27.400>the <00:40:27.575>Ethereum <00:40:27.750>virtual <00:40:27.924>machine <00:40:28.100>runs <00:40:28.275>off <00:40:28.450>Byte <00:40:28.625>code,

846
00:40:30.565 --> 00:40:32.605
<00:40:30.565>which <00:40:30.765>is <00:40:30.965>very <00:40:31.165>similar <00:40:31.365>to <00:40:31.565>Java <00:40:31.765>by <00:40:31.965>code.

847
00:40:33.305 --> 00:40:37.965
<00:40:33.305>Um, <00:40:33.412>and, <00:40:33.520>uh, <00:40:33.628>in <00:40:33.735>fact, <00:40:33.843>for <00:40:33.951>a <00:40:34.058>lot <00:40:34.166>of <00:40:34.274>years, <00:40:34.381>uh, <00:40:34.489>you <00:40:34.597>could, <00:40:34.705>uh,

848
00:40:37.985 --> 00:40:40.125
<00:40:37.985>you <00:40:38.185>couldn't <00:40:38.385>even, <00:40:38.585>uh, <00:40:38.785>make <00:40:38.985>scripts <00:40:39.185>like <00:40:39.385>this

849
00:40:40.125 --> 00:40:41.325
<00:40:40.125>because <00:40:40.341>there <00:40:40.557>were <00:40:40.772>simply <00:40:40.989>too <00:40:41.205>long,

850
00:40:41.325 --> 00:40:45.245
<00:40:41.325>there <00:40:41.500>were <00:40:41.674>limitations <00:40:41.850>imposed, <00:40:42.024>uh, <00:40:42.200>by, <00:40:42.375>by <00:40:42.549>developers <00:40:42.725>on,

851
00:40:45.345 --> 00:40:49.485
<00:40:45.345>um, <00:40:45.500>by <00:40:45.656>the <00:40:45.811>Bitcoin <00:40:45.967>developers <00:40:46.122>on <00:40:46.278>what <00:40:46.433>you <00:40:46.589>were <00:40:46.745>allowed

852
00:40:49.485 --> 00:40:50.565
<00:40:49.485>to <00:40:49.809>put <00:40:50.133>into <00:40:50.457>scripts.

853
00:40:50.785 --> 00:40:53.845
<00:40:50.785>Um, <00:40:50.940>so <00:40:51.096>all <00:40:51.251>of <00:40:51.407>the <00:40:51.562>potential <00:40:51.718>that's <00:40:51.873>available <00:40:52.029>here <00:40:52.185>was,

854
00:40:53.945 --> 00:40:55.965
<00:40:53.945>was <00:40:54.295>not <00:40:54.645>available, <00:40:54.995>uh, <00:40:55.345>or,

855
00:40:55.985 --> 00:40:59.045
<00:40:55.985>or <00:40:56.101>not <00:40:56.218>able <00:40:56.335>to <00:40:56.451>be <00:40:56.568>used <00:40:56.685>except <00:40:56.801>maybe <00:40:56.918>on <00:40:57.035>a <00:40:57.151>testnet <00:40:57.268>at <00:40:57.385>home.

856
00:41:00.025 --> 00:41:02.605
<00:41:00.025>Um, <00:41:00.200>so <00:41:00.375>this <00:41:00.550>is <00:41:00.725>what <00:41:00.900>Ethereum <00:41:01.075>Solidity <00:41:01.250>looks <00:41:01.425>like.

857
00:41:03.225 --> 00:41:06.085
<00:41:03.225>Um, <00:41:03.352>but, <00:41:03.479>um, <00:41:03.606>but <00:41:03.734>it <00:41:03.861>gets <00:41:03.988>a <00:41:04.115>little <00:41:04.243>bit <00:41:04.370>better <00:41:04.497>than <00:41:04.625>this.

858
00:41:06.425 --> 00:41:09.085
<00:41:06.425>Um, <00:41:06.705>of <00:41:06.985>course, <00:41:07.265>the, <00:41:07.545>the <00:41:07.825>potential

859
00:41:09.085 --> 00:41:11.405
<00:41:09.085>for <00:41:09.240>this <00:41:09.396>has <00:41:09.551>only <00:41:09.707>just <00:41:09.862>be <00:41:10.018>beginning <00:41:10.173>to <00:41:10.329>be <00:41:10.485>unlocked.

860
00:41:11.625 --> 00:41:14.485
<00:41:11.625>Um, <00:41:11.825>something <00:41:12.025>that <00:41:12.225>we'll <00:41:12.425>be <00:41:12.625>talking <00:41:12.825>about <00:41:13.025>extensively,

861
00:41:14.605 --> 00:41:17.485
<00:41:14.605>I <00:41:14.732>think <00:41:14.859>in <00:41:14.986>the <00:41:15.114>devcon <00:41:15.241>will <00:41:15.368>be <00:41:15.495>the <00:41:15.623>new, <00:41:15.750>uh, <00:41:15.877>IDE, <00:41:16.005>uh,

862
00:41:18.405 --> 00:41:19.925
<00:41:18.405>contract <00:41:18.747>programming <00:41:19.089>language <00:41:19.431>s <00:41:19.773>script.

863
00:41:20.425 --> 00:41:23.045
<00:41:20.425>Uh, <00:41:20.565>there's <00:41:20.705>others <00:41:20.845>as <00:41:20.985>well. <00:41:21.125>That's <00:41:21.265>it <00:41:21.405>there <00:41:21.545>on <00:41:21.685>the <00:41:21.825>right.

864
00:41:23.385 --> 00:41:26.045
<00:41:23.385>Um, <00:41:23.512>and <00:41:23.639>I <00:41:23.766>put <00:41:23.894>them <00:41:24.021>side <00:41:24.148>by <00:41:24.275>side, <00:41:24.403>so <00:41:24.530>you <00:41:24.657>can <00:41:24.785>compare

865
00:41:26.065 --> 00:41:28.045
<00:41:26.065>and <00:41:26.265>see <00:41:26.465>how, <00:41:26.665>how <00:41:26.865>similar <00:41:27.065>it <00:41:27.265>actually <00:41:27.465>is

866
00:41:28.045 --> 00:41:29.285
<00:41:28.045>to <00:41:28.603>Ethereum <00:41:29.161>Solidity.

867
00:41:29.715 --> 00:41:31.525
<00:41:29.715>This <00:41:29.890>has <00:41:30.065>been <00:41:30.240>one <00:41:30.415>of <00:41:30.590>the <00:41:30.765>most <00:41:30.940>important <00:41:31.115>things,

868
00:41:31.685 --> 00:41:34.565
<00:41:31.685>I <00:41:31.825>think <00:41:31.965>the <00:41:32.105>Bitcoin <00:41:32.245>SV <00:41:32.384>to <00:41:32.525>address <00:41:32.665>was <00:41:32.805>the <00:41:32.945>simple <00:41:33.085>fact

869
00:41:34.565 --> 00:41:38.325
<00:41:34.565>that <00:41:34.720>the <00:41:34.876>developer <00:41:35.031>experience <00:41:35.187>on, <00:41:35.342>uh, <00:41:35.498>on <00:41:35.653>Ethereum <00:41:35.809>was, <00:41:35.965>uh,

870
00:41:38.345 --> 00:41:40.445
<00:41:38.345>was <00:41:38.500>so <00:41:38.656>much <00:41:38.811>better <00:41:38.967>than <00:41:39.122>it <00:41:39.278>ever <00:41:39.433>was <00:41:39.589>on <00:41:39.745>Bitcoin,

871
00:41:41.025 --> 00:41:44.685
<00:41:41.025>and <00:41:41.141>it <00:41:41.258>probably <00:41:41.375>won't <00:41:41.491>ever <00:41:41.608>be <00:41:41.725>an <00:41:41.841>any <00:41:41.958>better <00:41:42.075>on, <00:41:42.191>um, <00:41:42.308>on <00:41:42.425>BTC,

872
00:41:44.745 --> 00:41:47.365
<00:41:44.745>but, <00:41:44.900>uh, <00:41:45.056>on <00:41:45.211>Bitcoin <00:41:45.367>sv, <00:41:45.522>we've <00:41:45.678>done <00:41:45.833>something <00:41:45.989>about <00:41:46.145>that.

873
00:41:48.745 --> 00:41:53.365
<00:41:48.745>Um, <00:41:48.861>so <00:41:48.978>scrt <00:41:49.095>is <00:41:49.211>available <00:41:49.328>as <00:41:49.444>a, <00:41:49.561>um, <00:41:49.678>uh, <00:41:49.795>a <00:41:49.911>BS <00:41:50.028>code <00:41:50.145>extension,

874
00:41:53.365 --> 00:41:56.165
<00:41:53.365>which <00:41:53.504>is <00:41:53.645>a, <00:41:53.785>probably <00:41:53.924>one <00:41:54.064>of <00:41:54.205>the <00:41:54.345>most <00:41:54.484>popular <00:41:54.625>IDs, <00:41:54.765>uh,

875
00:41:56.165 --> 00:41:57.165
<00:41:56.165>in <00:41:56.390>the <00:41:56.615>world <00:41:56.840>right <00:41:57.065>now.

876
00:41:57.745 --> 00:42:00.285
<00:41:57.745>Um, <00:41:57.944>and <00:41:58.145>it's, <00:41:58.345>uh, <00:41:58.545>trivially <00:41:58.745>easy <00:41:58.944>to <00:41:59.145>use.

877
00:42:00.425 --> 00:42:03.205
<00:42:00.425>And <00:42:00.600>here's <00:42:00.775>just <00:42:00.950>an <00:42:01.125>example <00:42:01.300>of <00:42:01.475>their <00:42:01.650>documentation, <00:42:01.825>um,

878
00:42:03.555 --> 00:42:06.245
<00:42:03.555>that <00:42:03.694>shows <00:42:03.835>how <00:42:03.975>to <00:42:04.115>do <00:42:04.254>a <00:42:04.395>Raven <00:42:04.535>signature, <00:42:04.674>which <00:42:04.815>is, <00:42:04.955>uh,

879
00:42:06.505 --> 00:42:09.285
<00:42:06.505>one <00:42:06.738>mechanism <00:42:06.971>of <00:42:07.205>digitally <00:42:07.438>signing <00:42:07.671>data, <00:42:07.905>uh,

880
00:42:09.385 --> 00:42:11.885
<00:42:09.385>in <00:42:09.665>a <00:42:09.945>transaction, <00:42:10.225>any <00:42:10.505>arbitrary <00:42:10.785>data.

881
00:42:13.065 --> 00:42:14.565
<00:42:13.065>And <00:42:13.257>s <00:42:13.450>script <00:42:13.643>is <00:42:13.836>not <00:42:14.029>the <00:42:14.222>only <00:42:14.415>one.

882
00:42:14.565 --> 00:42:16.125
<00:42:14.565>There's <00:42:14.915>also <00:42:15.265>the <00:42:15.615>run <00:42:15.965>platform.

883
00:42:16.125 --> 00:42:17.845
<00:42:16.125>There's <00:42:16.475>the <00:42:16.825>Gear <00:42:17.175>SV <00:42:17.525>platform,

884
00:42:18.145 --> 00:42:20.005
<00:42:18.145>and, <00:42:18.425>uh, <00:42:18.705>at <00:42:18.985>the <00:42:19.265>upcoming <00:42:19.545>devcon,

885
00:42:20.005 --> 00:42:22.725
<00:42:20.005>I'll <00:42:20.145>actually <00:42:20.285>be <00:42:20.425>previewing <00:42:20.565>a <00:42:20.705>little <00:42:20.845>pet <00:42:20.985>project <00:42:21.125>of <00:42:21.265>my <00:42:21.405>own,

886
00:42:22.735 --> 00:42:26.045
<00:42:22.735>which, <00:42:22.935>um, <00:42:23.135>I, <00:42:23.335>I <00:42:23.535>expect <00:42:23.735>would <00:42:23.935>be <00:42:24.135>added.

887
00:42:26.785 --> 00:42:29.805
<00:42:26.785>Uh, <00:42:26.901>if <00:42:27.018>anyone <00:42:27.134>does <00:42:27.251>a <00:42:27.368>a <00:42:27.484>slide <00:42:27.601>similar <00:42:27.718>to <00:42:27.835>this <00:42:27.951>in <00:42:28.068>the <00:42:28.185>future,

888
00:42:29.945 --> 00:42:32.125
<00:42:29.945>it <00:42:30.120>might, <00:42:30.295>uh, <00:42:30.470>might <00:42:30.645>be <00:42:30.820>sitting <00:42:30.995>there <00:42:31.170>alongside <00:42:31.345>it.

889
00:42:32.185 --> 00:42:33.845
<00:42:32.185>So <00:42:32.418>I'm <00:42:32.651>looking <00:42:32.884>forward <00:42:33.118>to <00:42:33.351>sharing <00:42:33.585>that.

890
00:42:35.595 --> 00:42:40.575
<00:42:35.595>Um, <00:42:35.794>so <00:42:35.995>in <00:42:36.194>terms <00:42:36.395>of <00:42:36.595>developer <00:42:36.794>tools, <00:42:36.995>uh,

891
00:42:40.645 --> 00:42:43.695
<00:42:40.645>I've <00:42:40.845>popped <00:42:41.045>up <00:42:41.245>this <00:42:41.445>old <00:42:41.645>simplified <00:42:41.845>payment <00:42:42.045>verification

892
00:42:43.745 --> 00:42:45.575
<00:42:43.745>slide <00:42:44.025>again, <00:42:44.305>which <00:42:44.585>you <00:42:44.865>would <00:42:45.145>remember

893
00:42:45.575 --> 00:42:46.735
<00:42:45.575>from <00:42:45.783>near <00:42:45.992>the <00:42:46.201>beginning <00:42:46.410>of <00:42:46.619>this.

894
00:42:47.315 --> 00:42:50.615
<00:42:47.315>Um, <00:42:47.595>it's, <00:42:47.875>um, <00:42:48.155>uh, <00:42:48.435>it's <00:42:48.715>relevant

895
00:42:50.615 --> 00:42:53.495
<00:42:50.615>because <00:42:50.742>I <00:42:50.869>just <00:42:50.996>wanna <00:42:51.124>show <00:42:51.251>you <00:42:51.378>one <00:42:51.505>of <00:42:51.633>the <00:42:51.760>other <00:42:51.887>tools, <00:42:52.015>um,

896
00:42:53.765 --> 00:42:57.055
<00:42:53.765>that <00:42:53.964>are <00:42:54.165>available <00:42:54.365>right <00:42:54.565>now, <00:42:54.765>uh, <00:42:54.964>on <00:42:55.165>BTC.

897
00:42:57.055 --> 00:43:00.255
<00:42:57.055>It's <00:42:57.194>not <00:42:57.335>that, <00:42:57.475>not <00:42:57.615>that <00:42:57.754>easy <00:42:57.895>for <00:42:58.035>a, <00:42:58.174>um, <00:42:58.315>a <00:42:58.455>developer

898
00:43:00.315 --> 00:43:01.935
<00:43:00.315>to <00:43:00.781>even <00:43:01.248>transmit <00:43:01.715>transactions.

899
00:43:01.995 --> 00:43:04.895
<00:43:01.995>You <00:43:02.150>need <00:43:02.306>to <00:43:02.461>implement <00:43:02.617>the <00:43:02.772>entire <00:43:02.928>peer <00:43:03.083>to <00:43:03.239>peer <00:43:03.395>protocol,

900
00:43:05.475 --> 00:43:08.335
<00:43:05.475>and <00:43:05.650>you're <00:43:05.825>missing <00:43:06.000>a <00:43:06.174>lot <00:43:06.350>of <00:43:06.525>potential <00:43:06.700>functionality, <00:43:06.875>um,

901
00:43:08.525 --> 00:43:09.895
<00:43:08.525>that <00:43:08.833>is, <00:43:09.141>is <00:43:09.449>really <00:43:09.758>important.

902
00:43:09.995 --> 00:43:11.895
<00:43:09.995>For <00:43:10.228>example, <00:43:10.461>you <00:43:10.694>can't <00:43:10.928>find <00:43:11.161>out <00:43:11.395>what,

903
00:43:12.005 --> 00:43:13.975
<00:43:12.005>what <00:43:12.238>transaction <00:43:12.471>fee <00:43:12.705>you <00:43:12.938>need <00:43:13.171>to <00:43:13.405>attach

904
00:43:13.995 --> 00:43:16.095
<00:43:13.995>to <00:43:14.194>make <00:43:14.395>sure <00:43:14.595>your <00:43:14.795>transaction <00:43:14.995>will <00:43:15.194>get <00:43:15.395>accepted.

905
00:43:16.885 --> 00:43:20.495
<00:43:16.885>Well, <00:43:17.025>we <00:43:17.165>solved <00:43:17.305>that <00:43:17.445>problem <00:43:17.585>with <00:43:17.725>Bitcoin <00:43:17.865>sv, <00:43:18.005>um, <00:43:18.145>with, <00:43:18.285>um,

906
00:43:20.675 --> 00:43:21.895
<00:43:20.675>an <00:43:21.041>interface, <00:43:21.407>the <00:43:21.773>likes

907
00:43:21.895 --> 00:43:24.615
<00:43:21.895>of <00:43:22.050>which <00:43:22.206>almost <00:43:22.361>every <00:43:22.517>developer <00:43:22.672>in <00:43:22.828>the <00:43:22.983>world <00:43:23.139>has <00:43:23.295>probably,

908
00:43:24.755 --> 00:43:28.015
<00:43:24.755>uh, <00:43:24.930>used <00:43:25.105>and <00:43:25.280>implemented <00:43:25.455>before <00:43:25.630>a <00:43:25.805>simple <00:43:25.980>rest <00:43:26.155>interface.

909
00:43:28.715 --> 00:43:32.175
<00:43:28.715>Um, <00:43:28.842>and <00:43:28.969>it's <00:43:29.096>a <00:43:29.224>very <00:43:29.351>simple <00:43:29.478>API, <00:43:29.605>but <00:43:29.733>it's <00:43:29.860>run <00:43:29.987>by <00:43:30.115>miners.

910
00:43:32.195 --> 00:43:36.495
<00:43:32.195>And <00:43:32.311>it <00:43:32.428>allows <00:43:32.545>you <00:43:32.661>as <00:43:32.778>a, <00:43:32.895>either <00:43:33.011>a <00:43:33.128>user, <00:43:33.245>a <00:43:33.361>user <00:43:33.478>who <00:43:33.595>wants

911
00:43:36.495 --> 00:43:38.815
<00:43:36.495>to <00:43:36.670>make <00:43:36.845>a <00:43:37.020>payment, <00:43:37.194>or <00:43:37.370>a <00:43:37.545>developer <00:43:37.720>who <00:43:37.895>wants

912
00:43:38.815 --> 00:43:41.455
<00:43:38.815>to <00:43:38.990>build <00:43:39.165>an <00:43:39.340>application <00:43:39.515>to <00:43:39.690>ask <00:43:39.865>a <00:43:40.040>miner <00:43:40.215>directly

913
00:43:41.595 --> 00:43:44.655
<00:43:41.595>how <00:43:41.722>much <00:43:41.849>fee, <00:43:41.976>what <00:43:42.104>is, <00:43:42.231>what <00:43:42.358>exactly <00:43:42.485>is <00:43:42.613>the <00:43:42.740>fee <00:43:42.867>I <00:43:42.995>need,

914
00:43:44.755 --> 00:43:46.855
<00:43:44.755>and <00:43:44.910>can <00:43:45.066>you <00:43:45.221>send, <00:43:45.377>can <00:43:45.532>I <00:43:45.688>send <00:43:45.843>you <00:43:45.999>a <00:43:46.155>transaction?

915
00:43:47.035 --> 00:43:49.615
<00:43:47.035>Yes, <00:43:47.174>I <00:43:47.315>can. <00:43:47.455>And <00:43:47.595>can <00:43:47.734>you <00:43:47.875>tell <00:43:48.015>me <00:43:48.154>whether <00:43:48.295>you've <00:43:48.435>accepted

916
00:43:49.675 --> 00:43:50.775
<00:43:49.675>the <00:43:50.005>transaction <00:43:50.335>or <00:43:50.665>not?

917
00:43:51.315 --> 00:43:53.295
<00:43:51.315>Um, <00:43:51.515>it <00:43:51.715>seems <00:43:51.915>like <00:43:52.115>such <00:43:52.315>a <00:43:52.515>simple <00:43:52.715>thing,

918
00:43:53.315 --> 00:43:56.135
<00:43:53.315>but <00:43:53.515>it's, <00:43:53.715>uh, <00:43:53.915>it's <00:43:54.115>just <00:43:54.315>not <00:43:54.515>impossible <00:43:54.715>on,

919
00:43:56.275 --> 00:43:57.855
<00:43:56.275>um, <00:43:56.741>on <00:43:57.208>other <00:43:57.675>blockchains.

920
00:43:58.035 --> 00:44:00.335
<00:43:58.035>Um, <00:43:58.162>and <00:43:58.289>this <00:43:58.416>is <00:43:58.544>one <00:43:58.671>of <00:43:58.798>the <00:43:58.925>first <00:43:59.053>things <00:43:59.180>that <00:43:59.307>we <00:43:59.435>wanted

921
00:44:00.335 --> 00:44:02.135
<00:44:00.335>to <00:44:00.685>address <00:44:01.035>with <00:44:01.385>Bitcoin <00:44:01.735>sv.

922
00:44:03.155 --> 00:44:06.575
<00:44:03.155>So <00:44:03.310>of <00:44:03.466>course, <00:44:03.621>there's, <00:44:03.777>um, <00:44:03.932>a <00:44:04.088>world <00:44:04.243>of <00:44:04.399>developer <00:44:04.555>resources,

923
00:44:06.595 --> 00:44:08.295
<00:44:06.595>and <00:44:06.828>again, <00:44:07.061>that <00:44:07.294>will <00:44:07.528>be <00:44:07.761>covered <00:44:07.995>more

924
00:44:08.295 --> 00:44:09.975
<00:44:08.295>and <00:44:08.495>more <00:44:08.695>detail <00:44:08.895>in <00:44:09.095>the, <00:44:09.295>in <00:44:09.495>the <00:44:09.695>devcon,

925
00:44:09.975 --> 00:44:11.775
<00:44:09.975>but <00:44:10.130>just <00:44:10.286>a <00:44:10.441>couple <00:44:10.597>I <00:44:10.752>wanna <00:44:10.908>point <00:44:11.063>out <00:44:11.219>to <00:44:11.375>you.

926
00:44:12.115 --> 00:44:14.895
<00:44:12.115>Um, <00:44:12.254>in <00:44:12.395>fact, <00:44:12.535>I <00:44:12.674>saw <00:44:12.814>this <00:44:12.955>in <00:44:13.095>the <00:44:13.234>chat <00:44:13.375>earlier <00:44:13.515>on.

927
00:44:15.315 --> 00:44:17.975
<00:44:15.315>Uh, <00:44:15.490>someone, <00:44:15.665>uh, <00:44:15.840>someone <00:44:16.015>mentioned <00:44:16.190>the <00:44:16.365>Wiki <00:44:16.540>Wiki <00:44:16.715>do

928
00:44:17.975 --> 00:44:19.495
<00:44:17.975>bitcoin, <00:44:19.343>sv.io.

929
00:44:19.715 --> 00:44:21.295
<00:44:19.715>Um, <00:44:20.065>it's <00:44:20.415>a <00:44:20.765>great <00:44:21.115>resource

930
00:44:21.515 --> 00:44:24.215
<00:44:21.515>for <00:44:21.690>learning <00:44:21.865>about <00:44:22.040>Bitcoin <00:44:22.214>from, <00:44:22.390>from <00:44:22.565>the <00:44:22.740>ground <00:44:22.915>up.

931
00:44:24.795 --> 00:44:28.055
<00:44:24.795>Um, <00:44:24.922>it <00:44:25.049>does <00:44:25.176>have <00:44:25.304>a <00:44:25.431>bit <00:44:25.558>of <00:44:25.685>a <00:44:25.813>technical <00:44:25.940>focus, <00:44:26.067>of <00:44:26.195>course,

932
00:44:28.235 --> 00:44:31.765
<00:44:28.235>but, <00:44:28.362>um, <00:44:28.489>but <00:44:28.616>it <00:44:28.744>also, <00:44:28.871>uh, <00:44:28.998>tries <00:44:29.125>on <00:44:29.253>some <00:44:29.380>of <00:44:29.507>those <00:44:29.635>pages

933
00:44:31.905 --> 00:44:33.805
<00:44:31.905>to <00:44:32.185>sort <00:44:32.465>of <00:44:32.745>really <00:44:33.025>explain <00:44:33.305>the,

934
00:44:33.905 --> 00:44:35.565
<00:44:33.905>the <00:44:34.255>general <00:44:34.605>concepts <00:44:34.955>of <00:44:35.305>Bitcoin.

935
00:44:36.345 --> 00:44:40.645
<00:44:36.345>Um, <00:44:36.484>another <00:44:36.625>resource <00:44:36.765>I <00:44:36.904>really <00:44:37.044>like <00:44:37.185>is <00:44:37.325>BSV <00:44:37.464>Devs, <00:44:37.605>um, <00:44:37.745>which,

936
00:44:40.825 --> 00:44:43.045
<00:44:40.825>uh, <00:44:40.980>points <00:44:41.136>to <00:44:41.291>a <00:44:41.447>lot <00:44:41.602>of, <00:44:41.758>uh, <00:44:41.913>you <00:44:42.069>know, <00:44:42.225>tools

937
00:44:43.345 --> 00:44:45.365
<00:44:43.345>and, <00:44:43.625>um, <00:44:43.904>uh, <00:44:44.185>developer <00:44:44.464>tools <00:44:44.745>and,

938
00:44:45.385 --> 00:44:47.725
<00:44:45.385>and <00:44:45.560>various <00:44:45.735>other, <00:44:45.910>other <00:44:46.085>bits <00:44:46.260>of <00:44:46.435>tooling, <00:44:46.610>as <00:44:46.785>well

939
00:44:47.725 --> 00:44:49.325
<00:44:47.725>as <00:44:48.075>just <00:44:48.424>some <00:44:48.775>fun <00:44:49.125>applications.

940
00:44:50.105 --> 00:44:52.085
<00:44:50.105>Um, <00:44:50.338>so <00:44:50.571>I <00:44:50.805>recommend <00:44:51.038>checking <00:44:51.271>that <00:44:51.505>out.

941
00:44:53.265 --> 00:44:56.485
<00:44:53.265>Um, <00:44:53.392>and <00:44:53.519>of <00:44:53.646>course, <00:44:53.774>part <00:44:53.901>of <00:44:54.028>the <00:44:54.155>point <00:44:54.283>here <00:44:54.410>is <00:44:54.537>to, <00:44:54.665>uh,

942
00:44:56.585 --> 00:44:57.765
<00:44:56.585>to <00:44:56.939>speak <00:44:57.293>to <00:44:57.647>developers.

943
00:44:57.985 --> 00:45:01.525
<00:44:57.985>Uh, <00:44:58.092>I <00:44:58.200>would <00:44:58.308>be <00:44:58.415>remiss <00:44:58.523>of <00:44:58.631>me <00:44:58.738>as <00:44:58.846>end <00:44:58.954>chain <00:44:59.061>CTO, <00:44:59.169>not <00:44:59.277>to, <00:44:59.385>uh,

944
00:45:01.525 --> 00:45:02.525
<00:45:01.525>throw <00:45:01.750>in <00:45:01.975>a <00:45:02.200>plug <00:45:02.425>here

945
00:45:02.525 --> 00:45:05.725
<00:45:02.525>and <00:45:02.652>say <00:45:02.779>that <00:45:02.906>we <00:45:03.034>are <00:45:03.161>growing, <00:45:03.288>whereby <00:45:03.415>no <00:45:03.543>means <00:45:03.670>the <00:45:03.797>only <00:45:03.925>ones,

946
00:45:06.065 --> 00:45:10.845
<00:45:06.065>um, <00:45:06.220>uh, <00:45:06.376>getting <00:45:06.531>involved <00:45:06.687>in <00:45:06.842>Bitcoin <00:45:06.998>SV <00:45:07.153>development, <00:45:07.309>uh, <00:45:07.465>is,

947
00:45:10.865 --> 00:45:13.325
<00:45:10.865>uh, <00:45:11.064>is <00:45:11.265>a <00:45:11.464>really <00:45:11.665>interesting <00:45:11.865>potential <00:45:12.064>career <00:45:12.265>path.

948
00:45:13.665 --> 00:45:16.525
<00:45:13.665>And, <00:45:13.820>uh, <00:45:13.976>whilst <00:45:14.131>we'd <00:45:14.287>be <00:45:14.442>interested <00:45:14.598>in <00:45:14.753>talking <00:45:14.909>to, <00:45:15.065>uh,

949
00:45:16.625 --> 00:45:21.285
<00:45:16.625>to <00:45:16.732>people <00:45:16.840>who <00:45:16.948>are, <00:45:17.055>are, <00:45:17.163>um, <00:45:17.271>a <00:45:17.378>few, <00:45:17.486>a <00:45:17.594>few <00:45:17.701>steps <00:45:17.809>along <00:45:17.917>the <00:45:18.025>way

950
00:45:21.285 --> 00:45:23.205
<00:45:21.285>through <00:45:21.484>their, <00:45:21.685>their <00:45:21.884>learning <00:45:22.085>experience, <00:45:22.285>there <00:45:22.484>are <00:45:22.685>many,

951
00:45:23.205 --> 00:45:26.005
<00:45:23.205>many <00:45:23.438>other <00:45:23.671>in, <00:45:23.904>uh, <00:45:24.138>companies, <00:45:24.371>uh, <00:45:24.605>um,

952
00:45:26.305 --> 00:45:28.685
<00:45:26.305>who <00:45:26.504>are <00:45:26.705>operating <00:45:26.904>on <00:45:27.105>Bitcoin <00:45:27.305>SV <00:45:27.504>right <00:45:27.705>now.

953
00:45:28.985 --> 00:45:30.765
<00:45:28.985>And, <00:45:29.218>um, <00:45:29.451>I <00:45:29.685>think <00:45:29.918>there'll <00:45:30.151>be <00:45:30.385>many,

954
00:45:30.765 --> 00:45:32.725
<00:45:30.765>many <00:45:31.115>career <00:45:31.464>opportunities <00:45:31.815>going <00:45:32.165>forward.

955
00:45:33.825 --> 00:45:37.365
<00:45:33.825>So <00:45:33.952>I'll <00:45:34.079>turn <00:45:34.206>back <00:45:34.334>over <00:45:34.461>to, <00:45:34.588>uh, <00:45:34.715>to <00:45:34.843>Jimmy <00:45:34.970>to <00:45:35.097>wrap <00:45:35.225>up.

956
00:45:37.745 --> 00:45:40.845
<00:45:37.745>Um, <00:45:37.920>and, <00:45:38.095>uh, <00:45:38.270>I <00:45:38.444>look <00:45:38.620>forward <00:45:38.795>to <00:45:38.970>some <00:45:39.145>questions.

957
00:46:33.635 --> 00:46:36.935
<00:46:33.635>Uh, <00:46:33.762>Jimmy, <00:46:33.889>I <00:46:34.016>can't <00:46:34.144>hear <00:46:34.271>you. <00:46:34.398>Are <00:46:34.525>you <00:46:34.653>muted <00:46:34.780>by <00:46:34.907>any <00:46:35.035>chance?

958
00:47:05.215 --> 00:47:06.215
<00:47:05.215>I <00:47:06.115>have.

959
00:47:14.545 --> 00:47:16.305
<00:47:14.545>I <00:47:15.011>have. <00:47:15.478>I <00:47:15.945>have.

960
00:47:43.755 --> 00:47:43.975
Uh,

961
00:47:50.495 --> 00:47:51.495
<00:47:50.495>Hi <00:47:50.944>all. <00:47:51.395>Sorry,

962
00:47:51.495 --> 00:47:54.515
<00:47:51.495>I <00:47:51.622>was <00:47:51.749>trying <00:47:51.876>to <00:47:52.004>sort <00:47:52.131>out <00:47:52.258>things. <00:47:52.385>Let <00:47:52.513>me <00:47:52.640>just <00:47:52.767>wrap <00:47:52.895>up.

963
00:47:54.735 --> 00:47:57.475
<00:47:54.735>Um, <00:47:54.968>before <00:47:55.201>we <00:47:55.435>take <00:47:55.668>questions <00:47:55.901>by, <00:47:56.135>uh,

964
00:47:57.475 --> 00:48:00.995
<00:47:57.475>telling <00:47:57.615>you <00:47:57.755>about <00:47:57.895>a <00:47:58.035>few <00:47:58.174>things <00:47:58.315>that <00:47:58.455>are <00:47:58.595>coming <00:47:58.735>up <00:47:58.875>soon,

965
00:48:01.695 --> 00:48:03.475
<00:48:01.695>um, <00:48:01.895>I <00:48:02.095>don't <00:48:02.295>think <00:48:02.495>I <00:48:02.695>need <00:48:02.895>to <00:48:03.095>share.

966
00:48:04.265 --> 00:48:07.955
<00:48:04.265>It's, <00:48:04.420>we <00:48:04.576>have <00:48:04.731>a <00:48:04.887>hackathon <00:48:05.042>that's <00:48:05.198>happening <00:48:05.353>right <00:48:05.509>now, <00:48:05.665>um,

967
00:48:08.575 --> 00:48:10.395
<00:48:08.575>uh, <00:48:08.855>that <00:48:09.134>goes <00:48:09.415>for <00:48:09.694>two <00:48:09.975>months.

968
00:48:10.855 --> 00:48:13.995
<00:48:10.855>Um, <00:48:11.010>the <00:48:11.166>competition <00:48:11.321>period <00:48:11.477>just <00:48:11.632>started <00:48:11.788>about <00:48:11.943>a <00:48:12.099>week <00:48:12.255>ago,

969
00:48:14.335 --> 00:48:16.115
<00:48:14.335>and <00:48:14.685>it <00:48:15.035>ends <00:48:15.385>August <00:48:15.735>18th.

970
00:48:16.465 --> 00:48:19.315
<00:48:16.465>It's <00:48:16.745>our <00:48:17.025>third <00:48:17.305>Bitcoin <00:48:17.585>SV <00:48:17.865>Hackathon.

971
00:48:19.735 --> 00:48:22.275
<00:48:19.735>So <00:48:19.968>you <00:48:20.201>can <00:48:20.435>enter <00:48:20.668>as <00:48:20.901>a <00:48:21.135>individual

972
00:48:22.575 --> 00:48:25.915
<00:48:22.575>or <00:48:22.691>as <00:48:22.808>a <00:48:22.924>team, <00:48:23.041>A <00:48:23.158>lot <00:48:23.274>of <00:48:23.391>people <00:48:23.508>like <00:48:23.625>to <00:48:23.741>participate <00:48:23.858>as <00:48:23.975>teams.

973
00:48:26.105 --> 00:48:27.795
<00:48:26.105>There's <00:48:26.305>still <00:48:26.505>plenty <00:48:26.705>of <00:48:26.905>time <00:48:27.105>to <00:48:27.305>sign <00:48:27.505>up.

974
00:48:27.795 --> 00:48:30.275
<00:48:27.795>You <00:48:27.935>have <00:48:28.075>the <00:48:28.215>opportunity <00:48:28.355>to <00:48:28.495>win <00:48:28.635>up <00:48:28.775>to <00:48:28.915>a <00:48:29.055>prize <00:48:29.195>pool

975
00:48:30.275 --> 00:48:33.995
<00:48:30.275>of <00:48:30.402>a <00:48:30.529>hundred <00:48:30.656>thousand <00:48:30.784>US <00:48:30.911>dollars <00:48:31.038>in <00:48:31.165>Bitcoin <00:48:31.293>SV <00:48:31.420>for <00:48:31.547>a <00:48:31.675>first,

976
00:48:33.995 --> 00:48:35.075
<00:48:33.995>second, <00:48:34.319>and <00:48:34.643>third <00:48:34.966>prize.

977
00:48:35.615 --> 00:48:38.995
<00:48:35.615>The <00:48:35.770>theme <00:48:35.926>is <00:48:36.081>to <00:48:36.237>build <00:48:36.392>applications <00:48:36.548>that <00:48:36.703>connect <00:48:36.859>the <00:48:37.015>world

978
00:48:39.055 --> 00:48:40.795
<00:48:39.055>to <00:48:39.521>one <00:48:39.988>global <00:48:40.455>blockchain,

979
00:48:40.865 --> 00:48:43.795
<00:48:40.865>because <00:48:41.064>we <00:48:41.265>are <00:48:41.464>big <00:48:41.665>believers <00:48:41.865>in <00:48:42.064>the <00:48:42.265>fact

980
00:48:43.795 --> 00:48:45.115
<00:48:43.795>that <00:48:44.191>the <00:48:44.587>Bitcoin <00:48:44.982>blockchain

981
00:48:45.115 --> 00:48:47.995
<00:48:45.115>and <00:48:45.254>Bitcoin <00:48:45.395>SV <00:48:45.535>can <00:48:45.674>support, <00:48:45.814>uh, <00:48:45.955>all <00:48:46.095>of <00:48:46.234>the <00:48:46.375>world's <00:48:46.515>data.

982
00:48:48.175 --> 00:48:50.795
<00:48:48.175>So <00:48:48.375>to <00:48:48.575>find <00:48:48.775>out <00:48:48.975>more, <00:48:49.175>go <00:48:49.375>to, <00:48:49.575>um,

983
00:48:51.115 --> 00:48:53.315
<00:48:51.115>BS <00:48:51.814>bsv <00:48:52.515>hackathon.net,

984
00:48:53.375 --> 00:48:55.035
<00:48:53.375>and <00:48:53.575>that <00:48:53.775>is <00:48:53.975>one <00:48:54.175>of <00:48:54.375>the <00:48:54.575>great <00:48:54.775>initiatives

985
00:48:55.035 --> 00:48:56.075
<00:48:55.035>from <00:48:55.502>Bitcoin <00:48:55.971>Association.

986
00:48:56.495 --> 00:48:59.155
<00:48:56.495>In <00:48:56.670>addition, <00:48:56.845>we <00:48:57.020>have <00:48:57.194>a <00:48:57.370>developer <00:48:57.545>conference <00:48:57.720>coming <00:48:57.895>up

987
00:48:59.545 --> 00:49:02.035
<00:48:59.545>July <00:48:59.745>18th <00:48:59.945>and <00:49:00.145>19th <00:49:00.345>that <00:49:00.545>we're <00:49:00.745>partnering <00:49:00.945>with.

988
00:49:02.055 --> 00:49:06.275
<00:49:02.055>We <00:49:02.171>are <00:49:02.288>developers <00:49:02.404>on, <00:49:02.521>uh, <00:49:02.638>that <00:49:02.754>will <00:49:02.871>be <00:49:02.988>two <00:49:03.105>days <00:49:03.221>with <00:49:03.338>a <00:49:03.455>lot

989
00:49:06.275 --> 00:49:07.595
<00:49:06.275>of <00:49:06.869>information, <00:49:07.462>content

990
00:49:08.215 --> 00:49:11.355
<00:49:08.215>and, <00:49:08.370>uh, <00:49:08.526>advice <00:49:08.681>from <00:49:08.837>the <00:49:08.992>N <00:49:09.148>chain <00:49:09.303>team, <00:49:09.459>as <00:49:09.615>well

991
00:49:11.355 --> 00:49:12.955
<00:49:11.355>as <00:49:11.635>many <00:49:11.915>companies <00:49:12.195>across <00:49:12.475>the <00:49:12.755>world.

992
00:49:13.255 --> 00:49:15.795
<00:49:13.255>To <00:49:13.410>help <00:49:13.566>you <00:49:13.721>learn <00:49:13.877>how <00:49:14.032>to <00:49:14.188>build <00:49:14.343>a <00:49:14.499>Bitcoin <00:49:14.655>sv,

993
00:49:16.175 --> 00:49:19.955
<00:49:16.175>you <00:49:16.315>can <00:49:16.455>register <00:49:16.595>on <00:49:16.735>the <00:49:16.875>we <00:49:17.015>are <00:49:17.155>developers.com <00:49:17.295>site, <00:49:17.435>as <00:49:17.575>well

994
00:49:20.015 --> 00:49:22.675
<00:49:20.015>as <00:49:20.248>find <00:49:20.481>out <00:49:20.714>more <00:49:20.948>information <00:49:21.181>at, <00:49:21.415>um,

995
00:49:23.215 --> 00:49:25.475
<00:49:23.215>bsv <00:49:23.915>dev <00:49:24.615>con.net.

996
00:49:25.495 --> 00:49:27.595
<00:49:25.495>That's <00:49:25.845>July <00:49:26.194>18th <00:49:26.545>and <00:49:26.895>19th.

997
00:49:28.255 --> 00:49:31.195
<00:49:28.255>Um, <00:49:28.395>so <00:49:28.535>it's <00:49:28.675>coming <00:49:28.815>up <00:49:28.955>soon <00:49:29.095>and <00:49:29.235>it's <00:49:29.375>free <00:49:29.515>to <00:49:29.655>register.

998
00:49:31.295 --> 00:49:33.835
<00:49:31.295>So <00:49:31.435>we <00:49:31.575>hope <00:49:31.715>lots <00:49:31.855>of <00:49:31.995>you <00:49:32.135>take <00:49:32.275>advantage <00:49:32.415>of <00:49:32.555>that <00:49:32.695>opportunity

999
00:49:34.015 --> 00:49:36.275
<00:49:34.015>to <00:49:34.295>learn <00:49:34.575>more <00:49:34.855>about <00:49:35.134>Bitcoin <00:49:35.415>sv.

1000
00:49:36.775 --> 00:49:38.995
<00:49:36.775>Um, <00:49:36.975>and <00:49:37.175>that <00:49:37.375>is, <00:49:37.575>those <00:49:37.775>are <00:49:37.975>just <00:49:38.175>some

1001
00:49:38.995 --> 00:49:40.435
<00:49:38.995>of <00:49:39.254>the <00:49:39.513>interesting <00:49:39.772>initiatives <00:49:40.031>we <00:49:40.291>have.

1002
00:49:40.705 --> 00:49:43.595
<00:49:40.705>Bitcoin <00:49:40.938>Association <00:49:41.171>is <00:49:41.404>the <00:49:41.638>global <00:49:41.871>industry <00:49:42.105>organization

1003
00:49:43.665 --> 00:49:45.835
<00:49:43.665>that <00:49:43.898>advances <00:49:44.131>the <00:49:44.365>business <00:49:44.598>of <00:49:44.831>Bitcoin <00:49:45.065>sv.

1004
00:49:46.415 --> 00:49:48.355
<00:49:46.415>Um, <00:49:46.648>if <00:49:46.881>you <00:49:47.115>want <00:49:47.348>to <00:49:47.581>get <00:49:47.815>involved

1005
00:49:48.495 --> 00:49:50.035
<00:49:48.495>and <00:49:48.725>learn <00:49:48.957>more <00:49:49.188>about <00:49:49.419>what <00:49:49.649>we're <00:49:49.881>doing,

1006
00:49:50.045 --> 00:49:53.755
<00:49:50.045>visit <00:49:50.745>our <00:49:51.445>website@bitcoinassociation.net.

1007
00:49:54.095 --> 00:49:56.035
<00:49:54.095>As <00:49:54.328>an <00:49:54.561>individual <00:49:54.794>developer, <00:49:55.028>you <00:49:55.261>can <00:49:55.495>apply

1008
00:49:56.035 --> 00:49:59.155
<00:49:56.035>to <00:49:56.268>become <00:49:56.501>an <00:49:56.734>affiliate <00:49:56.968>of <00:49:57.201>the <00:49:57.435>association.

1009
00:49:59.255 --> 00:50:02.675
<00:49:59.255>Our <00:49:59.430>memberships, <00:49:59.605>um, <00:49:59.780>are, <00:49:59.955>are <00:50:00.130>really <00:50:00.305>focused <00:50:00.480>on <00:50:00.655>businesses,

1010
00:50:02.675 --> 00:50:05.195
<00:50:02.675>but <00:50:02.802>if <00:50:02.929>you're <00:50:03.056>not <00:50:03.184>involved <00:50:03.311>with <00:50:03.438>a <00:50:03.565>business <00:50:03.693>that <00:50:03.820>is <00:50:03.947>a <00:50:04.075>member,

1011
00:50:05.495 --> 00:50:08.155
<00:50:05.495>become <00:50:05.670>an <00:50:05.845>affiliate <00:50:06.020>of <00:50:06.194>our <00:50:06.370>association <00:50:06.545>and <00:50:06.720>sign <00:50:06.895>up

1012
00:50:08.155 --> 00:50:09.275
<00:50:08.155>and <00:50:08.356>get <00:50:08.558>lots <00:50:08.759>of <00:50:08.961>information <00:50:09.163>about

1013
00:50:09.275 --> 00:50:11.635
<00:50:09.275>what <00:50:09.475>we're <00:50:09.675>doing <00:50:09.875>in <00:50:10.075>Bitcoin <00:50:10.275>SV <00:50:10.475>Land, <00:50:10.675>uh,

1014
00:50:11.635 --> 00:50:13.915
<00:50:11.635>we're <00:50:11.790>really <00:50:11.946>excited <00:50:12.101>to <00:50:12.257>bring <00:50:12.412>Bitcoin <00:50:12.568>svs <00:50:12.723>to <00:50:12.879>the <00:50:13.035>world.

1015
00:50:13.915 --> 00:50:17.155
<00:50:13.915>We <00:50:14.070>think <00:50:14.226>it <00:50:14.381>is <00:50:14.537>going <00:50:14.692>to <00:50:14.848>be <00:50:15.003>the <00:50:15.159>global <00:50:15.315>blockchain

1016
00:50:17.215 --> 00:50:19.795
<00:50:17.215>for <00:50:17.448>enterprises <00:50:17.681>and <00:50:17.915>developers <00:50:18.148>with <00:50:18.381>big <00:50:18.615>power.

1017
00:50:20.255 --> 00:50:22.995
<00:50:20.255>As, <00:50:20.455>uh, <00:50:20.655>Steve <00:50:20.855>said, <00:50:21.055>big <00:50:21.255>blocks, <00:50:21.455>big <00:50:21.655>transactions,

1018
00:50:23.215 --> 00:50:25.435
<00:50:23.215>big <00:50:23.448>script, <00:50:23.681>and <00:50:23.915>big <00:50:24.148>capabilities <00:50:24.381>for <00:50:24.615>everyone.

1019
00:50:25.615 --> 00:50:27.965
<00:50:25.615>Uh, <00:50:25.754>with <00:50:25.895>that, <00:50:26.035>I <00:50:26.174>think <00:50:26.314>we <00:50:26.455>have <00:50:26.595>some <00:50:26.734>time <00:50:26.875>for <00:50:27.015>questions.

1020
00:50:43.145 --> 00:50:45.005
<00:50:43.145>Um, <00:50:43.345>so <00:50:43.545>Steve, <00:50:43.745>one <00:50:43.945>of <00:50:44.145>the <00:50:44.345>questions <00:50:44.545>is,

1021
00:50:45.005 --> 00:50:48.005
<00:50:45.005>is <00:50:45.132>there <00:50:45.259>a <00:50:45.386>specific <00:50:45.514>language <00:50:45.641>you <00:50:45.768>have <00:50:45.895>to <00:50:46.023>use <00:50:46.150>for <00:50:46.277>the <00:50:46.405>devcon,

1022
00:50:51.145 --> 00:50:53.165
<00:50:51.145>Uh, <00:50:51.345>a <00:50:51.545>specific <00:50:51.745>language <00:50:51.945>you <00:50:52.145>have <00:50:52.345>to <00:50:52.545>use?

1023
00:50:53.235 --> 00:50:56.485
<00:50:53.235>Well, <00:50:53.351>no. <00:50:53.468>I <00:50:53.585>mean, <00:50:53.701>the <00:50:53.818>devcon <00:50:53.935>itself <00:50:54.051>is <00:50:54.168>more <00:50:54.285>of <00:50:54.401>a, <00:50:54.518>um, <00:50:54.635>more

1024
00:50:56.485 --> 00:50:58.525
<00:50:56.485>of <00:50:56.685>a, <00:50:56.885>a <00:50:57.085>learning <00:50:57.285>event, <00:50:57.485>i, <00:50:57.685>I <00:50:57.885>suppose,

1025
00:50:58.705 --> 00:51:00.245
<00:50:58.705>but <00:50:58.982>some, <00:50:59.259>there'll <00:50:59.536>be <00:50:59.813>a <00:51:00.091>number

1026
00:51:00.245 --> 00:51:02.245
<00:51:00.245>of <00:51:00.444>tools <00:51:00.645>which <00:51:00.845>will <00:51:01.045>be <00:51:01.245>shown <00:51:01.444>off, <00:51:01.645>some

1027
00:51:02.245 --> 00:51:05.645
<00:51:02.245>of <00:51:02.444>which <00:51:02.645>are <00:51:02.845>actually <00:51:03.045>languages, <00:51:03.245>um, <00:51:03.444>uh, <00:51:03.645>themselves.

1028
00:51:05.985 --> 00:51:09.765
<00:51:05.985>So, <00:51:06.160>um, <00:51:06.335>uh, <00:51:06.510>the <00:51:06.685>aim <00:51:06.860>of <00:51:07.035>Bitcoin <00:51:07.210>is <00:51:07.385>not

1029
00:51:09.765 --> 00:51:11.005
<00:51:09.765>to <00:51:10.136>be <00:51:10.509>language <00:51:10.881>specific.

1030
00:51:11.265 --> 00:51:14.245
<00:51:11.265>Uh, <00:51:11.420>for <00:51:11.576>example, <00:51:11.731>s <00:51:11.887>script <00:51:12.042>is, <00:51:12.198>is <00:51:12.353>one <00:51:12.509>particular <00:51:12.665>language

1031
00:51:14.245 --> 00:51:15.445
<00:51:14.245>that <00:51:14.461>you <00:51:14.677>can <00:51:14.893>use <00:51:15.109>for <00:51:15.325>scripting,

1032
00:51:15.445 --> 00:51:18.125
<00:51:15.445>but <00:51:15.600>of <00:51:15.756>course, <00:51:15.911>you <00:51:16.067>don't <00:51:16.222>need <00:51:16.378>to <00:51:16.533>actually <00:51:16.689>get, <00:51:16.845>uh,

1033
00:51:18.125 --> 00:51:20.005
<00:51:18.125>down <00:51:18.358>into <00:51:18.591>the <00:51:18.825>weeds <00:51:19.058>of <00:51:19.291>Bitcoin <00:51:19.525>scripts

1034
00:51:20.005 --> 00:51:21.845
<00:51:20.005>to <00:51:20.285>make <00:51:20.565>use <00:51:20.845>of <00:51:21.125>of <00:51:21.405>Bitcoin.

1035
00:51:21.845 --> 00:51:24.285
<00:51:21.845>There <00:51:22.000>are <00:51:22.156>plenty <00:51:22.311>of <00:51:22.467>tool <00:51:22.622>sets <00:51:22.778>available <00:51:22.933>in <00:51:23.089>all <00:51:23.245>sorts

1036
00:51:24.285 --> 00:51:28.565
<00:51:24.285>of <00:51:24.484>languages <00:51:24.685>to, <00:51:24.884>uh, <00:51:25.085>JavaScript <00:51:25.285>go <00:51:25.484>Python, <00:51:25.685>rust,

1037
00:51:29.075 --> 00:51:33.165
<00:51:29.075>Java, <00:51:29.230>um, <00:51:29.386>uh, <00:51:29.541>any, <00:51:29.697>anything <00:51:29.852>you, <00:51:30.008>you <00:51:30.163>can <00:51:30.319>imagine <00:51:30.475>probably,

1038
00:51:33.305 --> 00:51:34.765
<00:51:33.305>um, <00:51:33.567>there, <00:51:33.830>there <00:51:34.093>are <00:51:34.356>tools <00:51:34.618>available.

1039
00:51:34.985 --> 00:51:36.725
<00:51:34.985>So <00:51:35.218>use <00:51:35.451>whatever <00:51:35.685>language <00:51:35.918>you're <00:51:36.151>comfortable <00:51:36.385>with,

1040
00:51:40.655 --> 00:51:41.655
Right?

1041
00:51:52.515 --> 00:51:56.405
<00:51:52.515>Problem <00:51:52.690>with <00:51:52.865>the <00:51:53.040>fluctuating <00:51:53.214>price <00:51:53.390>for <00:51:53.565>BSC <00:51:53.740>or <00:51:53.915>BSV

1042
00:51:56.405 --> 00:51:59.085
<00:51:56.405>or <00:51:56.580>other, <00:51:56.755>other <00:51:56.930>blockchain <00:51:57.105>tokens <00:51:57.280>for <00:51:57.455>some <00:51:57.630>use <00:51:57.805>cases.

1043
00:51:59.235 --> 00:52:02.685
<00:51:59.235>Yeah, <00:51:59.390>it <00:51:59.546>is, <00:51:59.701>um, <00:51:59.857>it <00:52:00.012>is <00:52:00.168>problematic <00:52:00.323>and, <00:52:00.479>um, <00:52:00.635>uh,

1044
00:52:03.025 --> 00:52:05.085
<00:52:03.025>but, <00:52:03.258>uh, <00:52:03.491>well, <00:52:03.725>I'll, <00:52:03.958>I'll <00:52:04.191>get <00:52:04.425>to,

1045
00:52:05.145 --> 00:52:06.805
<00:52:05.145>to <00:52:05.378>addressing <00:52:05.611>those <00:52:05.845>problems <00:52:06.078>in <00:52:06.311>a <00:52:06.545>moment.

1046
00:52:06.905 --> 00:52:09.285
<00:52:06.905>But <00:52:07.060>for <00:52:07.216>many <00:52:07.371>use <00:52:07.527>cases, <00:52:07.682>it's <00:52:07.838>not <00:52:07.993>at <00:52:08.149>all, <00:52:08.305>um,

1047
00:52:09.505 --> 00:52:12.805
<00:52:09.505>to <00:52:09.660>use <00:52:09.816>Bitcoin <00:52:09.971>SB <00:52:10.127>as <00:52:10.282>a, <00:52:10.438>as <00:52:10.593>a <00:52:10.749>utility <00:52:10.905>ledger.

1048
00:52:13.185 --> 00:52:16.525
<00:52:13.185>Um, <00:52:13.360>often <00:52:13.535>what <00:52:13.710>you're <00:52:13.884>not <00:52:14.060>transmitting <00:52:14.235>is <00:52:14.410>large <00:52:14.585>amounts

1049
00:52:16.525 --> 00:52:17.605
<00:52:16.525>of <00:52:16.768>Bitcoin <00:52:17.011>back <00:52:17.254>and <00:52:17.497>forth.

1050
00:52:17.605 --> 00:52:19.085
<00:52:17.605>You're <00:52:18.049>transmitting <00:52:18.493>data <00:52:18.937>and,

1051
00:52:19.145 --> 00:52:21.805
<00:52:19.145>and <00:52:19.285>in <00:52:19.425>fact, <00:52:19.565>the <00:52:19.705>value <00:52:19.845>carried <00:52:19.985>in <00:52:20.125>the <00:52:20.265>transaction <00:52:20.405>is <00:52:20.545>the

1052
00:52:21.805 --> 00:52:24.325
<00:52:21.805>data <00:52:21.980>itself, <00:52:22.154>not, <00:52:22.330>uh, <00:52:22.504>not <00:52:22.680>the <00:52:22.855>amount <00:52:23.029>of <00:52:23.205>Bitcoin

1053
00:52:24.325 --> 00:52:25.605
<00:52:24.325>that <00:52:24.709>you're, <00:52:25.093>you're <00:52:25.477>transmitting.

1054
00:52:26.025 --> 00:52:27.565
<00:52:26.025>So <00:52:26.256>in, <00:52:26.487>in <00:52:26.718>those <00:52:26.949>sorts <00:52:27.180>of <00:52:27.411>cases

1055
00:52:27.615 --> 00:52:30.045
<00:52:27.615>where <00:52:27.790>you <00:52:27.964>might <00:52:28.140>only <00:52:28.314>have <00:52:28.490>a <00:52:28.665>few <00:52:28.839>satoshis <00:52:29.015>attached

1056
00:52:30.045 --> 00:52:32.365
<00:52:30.045>to <00:52:30.278>a <00:52:30.511>transaction, <00:52:30.745>uh, <00:52:30.978>dust <00:52:31.211>amounts, <00:52:31.445>um,

1057
00:52:32.715 --> 00:52:34.725
<00:52:32.715>then <00:52:33.065>these <00:52:33.415>fluctuations <00:52:33.765>aren't, <00:52:34.115>uh,

1058
00:52:34.725 --> 00:52:35.885
<00:52:34.725>aren't <00:52:34.986>really <00:52:35.247>going <00:52:35.508>to <00:52:35.769>matter.

1059
00:52:36.145 --> 00:52:39.085
<00:52:36.145>Longer <00:52:36.320>term, <00:52:36.495>though, <00:52:36.670>of <00:52:36.845>course, <00:52:37.020>payment, <00:52:37.195>uh, <00:52:37.370>use <00:52:37.545>cases,

1060
00:52:39.385 --> 00:52:43.765
<00:52:39.385>and, <00:52:39.540>um, <00:52:39.696>and <00:52:39.851>anything <00:52:40.007>where <00:52:40.162>the, <00:52:40.318>where <00:52:40.473>the <00:52:40.629>satoshi <00:52:40.785>value

1061
00:52:43.785 --> 00:52:46.445
<00:52:43.785>of <00:52:43.960>the <00:52:44.134>transaction <00:52:44.310>is, <00:52:44.484>is <00:52:44.660>significant, <00:52:44.835>of <00:52:45.009>course, <00:52:45.185>it,

1062
00:52:46.445 --> 00:52:48.725
<00:52:46.445>it <00:52:46.585>does <00:52:46.725>matter, <00:52:46.865>but <00:52:47.005>I <00:52:47.145>think <00:52:47.285>that <00:52:47.425>this <00:52:47.565>is <00:52:47.705>simply <00:52:47.845>going

1063
00:52:48.745 --> 00:52:50.605
<00:52:48.745>to <00:52:48.944>be <00:52:49.145>something <00:52:49.345>that <00:52:49.545>will <00:52:49.745>settle <00:52:49.944>over <00:52:50.145>time

1064
00:52:51.185 --> 00:52:52.485
<00:52:51.185>as <00:52:51.575>usage <00:52:51.965>picks <00:52:52.355>up.

1065
00:52:52.825 --> 00:52:54.885
<00:52:52.825>Um, <00:52:53.174>it's <00:52:53.524>the, <00:52:53.875>the <00:52:54.225>usage

1066
00:52:54.885 --> 00:52:58.445
<00:52:54.885>and <00:52:55.025>the <00:52:55.165>velocity <00:52:55.305>of <00:52:55.445>money <00:52:55.585>in <00:52:55.725>any <00:52:55.865>currency, <00:52:56.005>um, <00:52:56.145>that <00:52:56.285>dictates

1067
00:52:58.445 --> 00:53:00.325
<00:52:58.445>how <00:52:58.725>volatile <00:52:59.005>currencies <00:52:59.285>tend <00:52:59.565>to <00:52:59.845>be.

1068
00:53:00.625 --> 00:53:04.085
<00:53:00.625>Um, <00:53:00.800>the <00:53:00.975>US <00:53:01.150>dollar, <00:53:01.325>for <00:53:01.500>example, <00:53:01.675>is, <00:53:01.850>um, <00:53:02.025>is,

1069
00:53:04.185 --> 00:53:05.325
<00:53:04.185>is <00:53:04.441>a <00:53:04.698>pretty <00:53:04.954>stable <00:53:05.211>currency

1070
00:53:05.325 --> 00:53:08.445
<00:53:05.325>because <00:53:05.464>of <00:53:05.605>the <00:53:05.745>sheer <00:53:05.884>amount <00:53:06.024>of <00:53:06.165>trade <00:53:06.305>that <00:53:06.444>goes <00:53:06.585>on, <00:53:06.725>uh,

1071
00:53:08.465 --> 00:53:09.605
<00:53:08.465>in <00:53:08.721>it <00:53:08.978>every <00:53:09.234>day, <00:53:09.491>trillions

1072
00:53:09.605 --> 00:53:10.885
<00:53:09.605>and <00:53:09.835>trillions <00:53:10.065>of <00:53:10.296>dollars <00:53:10.526>every <00:53:10.757>day.

1073
00:53:11.745 --> 00:53:13.565
<00:53:11.745>Um, <00:53:12.444>so, <00:53:13.145>uh,

1074
00:53:13.625 --> 00:53:15.925
<00:53:13.625>and <00:53:13.765>it's <00:53:13.905>not <00:53:14.045>so <00:53:14.185>much <00:53:14.325>even <00:53:14.465>the <00:53:14.605>dollar <00:53:14.745>value <00:53:14.885>that's <00:53:15.025>moving,

1075
00:53:16.035 --> 00:53:18.805
<00:53:16.035>it's, <00:53:16.174>it's <00:53:16.315>just <00:53:16.455>the <00:53:16.595>amount <00:53:16.734>that <00:53:16.875>it's <00:53:17.015>moving <00:53:17.154>around <00:53:17.295>and, <00:53:17.435>and,

1076
00:53:18.825 --> 00:53:21.805
<00:53:18.825>and <00:53:18.980>how <00:53:19.136>much <00:53:19.291>people <00:53:19.447>need <00:53:19.602>to, <00:53:19.758>um, <00:53:19.913>to, <00:53:20.069>to <00:53:20.225>have

1077
00:53:21.805 --> 00:53:24.005
<00:53:21.805>and <00:53:21.980>acquire <00:53:22.154>it, <00:53:22.330>to, <00:53:22.504>to <00:53:22.680>use <00:53:22.855>it <00:53:23.029>for <00:53:23.205>something.

1078
00:53:24.505 --> 00:53:27.965
<00:53:24.505>Um, <00:53:24.680>so <00:53:24.855>that's <00:53:25.030>a, <00:53:25.205>a <00:53:25.380>longer <00:53:25.555>term, <00:53:25.730>uh, <00:53:25.905>problem.

1079
00:53:28.185 --> 00:53:30.325
<00:53:28.185>But, <00:53:28.465>um, <00:53:28.745>uh, <00:53:29.025>I'm, <00:53:29.305>I'm <00:53:29.585>confident

1080
00:53:30.325 --> 00:53:31.445
<00:53:30.325>that <00:53:30.526>it <00:53:30.728>will, <00:53:30.929>will <00:53:31.131>be <00:53:31.333>solved.

1081
00:53:31.465 --> 00:53:32.805
<00:53:31.465>And <00:53:31.666>in <00:53:31.867>the <00:53:32.068>meantime, <00:53:32.269>there <00:53:32.470>are <00:53:32.671>plenty

1082
00:53:32.805 --> 00:53:34.245
<00:53:32.805>of <00:53:33.064>other <00:53:33.323>ways <00:53:33.582>to <00:53:33.841>use <00:53:34.100>Bitcoin.

1083
00:53:34.485 --> 00:53:35.485
Sv

1084
00:53:39.305 --> 00:53:42.205
<00:53:39.305>The <00:53:39.444>question, <00:53:39.585>are <00:53:39.725>there <00:53:39.865>any <00:53:40.004>plans <00:53:40.145>to <00:53:40.285>remove <00:53:40.424>the <00:53:40.565>25, <00:53:40.705>uh,

1085
00:53:42.425 --> 00:53:43.685
<00:53:42.425>uh, <00:53:42.992>transaction <00:53:43.559>limit?

1086
00:53:45.505 --> 00:53:48.325
<00:53:45.505>Um, <00:53:45.680>well, <00:53:45.855>it's <00:53:46.030>not <00:53:46.205>the <00:53:46.380>25 <00:53:46.555>transaction <00:53:46.730>limit <00:53:46.905>anymore,

1087
00:53:48.355 --> 00:53:49.725
<00:53:48.355>it's <00:53:48.663>the <00:53:48.971>50 <00:53:49.279>transaction <00:53:49.587>limit.

1088
00:53:50.145 --> 00:53:52.725
<00:53:50.145>Uh, <00:53:50.345>and <00:53:50.545>the <00:53:50.745>answer <00:53:50.945>is <00:53:51.145>yes, <00:53:51.345>of <00:53:51.545>course.

1089
00:53:52.905 --> 00:53:55.605
<00:53:52.905>Uh, <00:53:53.045>there <00:53:53.185>is, <00:53:53.325>this <00:53:53.465>is <00:53:53.605>probably <00:53:53.745>the <00:53:53.885>most <00:53:54.025>asked <00:53:54.165>question, <00:53:54.305>um,

1090
00:53:55.675 --> 00:53:56.725
<00:53:55.675>that, <00:53:55.911>that, <00:53:56.147>that <00:53:56.383>I <00:53:56.620>get.

1091
00:53:56.865 --> 00:54:00.165
<00:53:56.865>Um, <00:53:56.992>the <00:53:57.119>unfortunate <00:53:57.246>part <00:53:57.374>of <00:53:57.501>the <00:53:57.628>answer <00:53:57.755>is <00:53:57.883>it's <00:53:58.010>a <00:53:58.137>lot, <00:53:58.265>uh,

1092
00:54:00.165 --> 00:54:01.205
<00:54:00.165>easier <00:54:00.477>said <00:54:00.788>than <00:54:01.101>done.

1093
00:54:01.345 --> 00:54:04.925
<00:54:01.345>Um, <00:54:01.500>there's <00:54:01.656>layers <00:54:01.811>and <00:54:01.967>layers <00:54:02.122>of, <00:54:02.278>uh, <00:54:02.433>of <00:54:02.589>legacy <00:54:02.745>code

1094
00:54:04.925 --> 00:54:06.365
<00:54:04.925>that <00:54:05.184>have <00:54:05.443>been <00:54:05.702>added <00:54:05.961>by, <00:54:06.221>um,

1095
00:54:06.565 --> 00:54:08.645
<00:54:06.565>BTC <00:54:06.798>developers <00:54:07.031>over <00:54:07.265>the <00:54:07.498>last <00:54:07.731>10 <00:54:07.965>years

1096
00:54:08.645 --> 00:54:10.005
<00:54:08.645>that <00:54:09.053>we're <00:54:09.461>slowly <00:54:09.869>unpicking.

1097
00:54:10.295 --> 00:54:13.245
<00:54:10.295>We're <00:54:10.422>getting <00:54:10.549>very <00:54:10.676>close <00:54:10.804>though, <00:54:10.931>um, <00:54:11.058>by <00:54:11.185>the <00:54:11.313>end <00:54:11.440>of <00:54:11.567>the <00:54:11.695>year,

1098
00:54:13.485 --> 00:54:15.405
<00:54:13.485>I, <00:54:13.685>I, <00:54:13.885>I <00:54:14.085>will <00:54:14.285>bet <00:54:14.485>my, <00:54:14.685>my <00:54:14.885>life

1099
00:54:15.425 --> 00:54:16.765
<00:54:15.425>and <00:54:15.626>my, <00:54:15.827>my <00:54:16.028>job <00:54:16.229>on <00:54:16.430>it, <00:54:16.631>um,

1100
00:54:16.875 --> 00:54:18.805
<00:54:16.875>that <00:54:17.015>we'll <00:54:17.155>have <00:54:17.295>it <00:54:17.435>fixed <00:54:17.575>by <00:54:17.715>the <00:54:17.855>end <00:54:17.995>of <00:54:18.135>the <00:54:18.275>year.

1101
00:54:18.805 --> 00:54:21.805
<00:54:18.805>There's <00:54:19.004>a <00:54:19.205>good, <00:54:19.404>um, <00:54:19.605>that, <00:54:19.805>um, <00:54:20.004>we'll <00:54:20.205>have

1102
00:54:21.805 --> 00:54:23.645
<00:54:21.805>that <00:54:22.154>limit <00:54:22.504>substantially <00:54:22.855>increased <00:54:23.205>within

1103
00:54:23.665 --> 00:54:24.805
<00:54:23.665>the <00:54:23.870>next <00:54:24.075>few <00:54:24.280>couple <00:54:24.485>of <00:54:24.691>months.

1104
00:54:29.185 --> 00:54:31.805
<00:54:29.185>Is <00:54:29.325>there <00:54:29.465>a <00:54:29.605>place <00:54:29.745>where <00:54:29.884>you <00:54:30.025>can <00:54:30.165>get <00:54:30.305>information <00:54:30.445>about <00:54:30.585>BSV

1105
00:54:31.805 --> 00:54:33.285
<00:54:31.805>scripting, <00:54:32.138>how <00:54:32.471>it <00:54:32.803>works, <00:54:33.136>how

1106
00:54:33.285 --> 00:54:34.485
<00:54:33.285>to <00:54:33.555>program <00:54:33.825>it, <00:54:34.095>and <00:54:34.365>capabilities?

1107
00:54:36.225 --> 00:54:38.285
<00:54:36.225>Um, <00:54:36.505>I <00:54:36.785>would <00:54:37.065>say <00:54:37.345>probably <00:54:37.625>one

1108
00:54:38.285 --> 00:54:41.005
<00:54:38.285>of <00:54:38.460>your <00:54:38.634>best <00:54:38.810>resources <00:54:38.984>is <00:54:39.160>forgive <00:54:39.335>the <00:54:39.509>shameless <00:54:39.685>plug,

1109
00:54:41.105 --> 00:54:42.605
<00:54:41.105>the <00:54:41.555>upcoming <00:54:42.005>defcon, <00:54:42.455>um,

1110
00:54:42.605 --> 00:54:45.605
<00:54:42.605>because <00:54:42.805>there's <00:54:43.005>at <00:54:43.205>least <00:54:43.405>two, <00:54:43.605>uh, <00:54:43.805>two <00:54:44.005>presentations

1111
00:54:45.635 --> 00:54:47.845
<00:54:45.635>that <00:54:45.835>are <00:54:46.035>going <00:54:46.235>to <00:54:46.435>be <00:54:46.635>specifically <00:54:46.835>about, <00:54:47.035>uh,

1112
00:54:47.845 --> 00:54:49.845
<00:54:47.845>bitcoin <00:54:48.125>script <00:54:48.404>in <00:54:48.685>different <00:54:48.964>ways, <00:54:49.245>uh,

1113
00:54:49.845 --> 00:54:51.005
<00:54:49.845>that <00:54:50.053>you <00:54:50.262>can <00:54:50.471>make <00:54:50.680>of <00:54:50.889>it.

1114
00:54:56.745 --> 00:54:59.485
<00:54:56.745>Now, <00:54:56.884>while <00:54:57.025>there's <00:54:57.165>a <00:54:57.305>pause, <00:54:57.444>there <00:54:57.585>was <00:54:57.725>a <00:54:57.865>comment <00:54:58.005>earlier <00:54:58.145>on,

1115
00:54:59.665 --> 00:55:01.045
<00:54:59.665>um, <00:55:00.079>somebody <00:55:00.493>pointed <00:55:00.907>out

1116
00:55:01.045 --> 00:55:03.285
<00:55:01.045>that <00:55:01.200>I <00:55:01.356>had <00:55:01.511>a <00:55:01.667>small <00:55:01.822>little <00:55:01.978>network <00:55:02.133>on <00:55:02.289>my <00:55:02.445>wall.

1117
00:55:03.625 --> 00:55:05.445
<00:55:03.625>Um, <00:55:03.825>I <00:55:04.025>just <00:55:04.225>thought <00:55:04.425>I <00:55:04.625>might <00:55:04.825>show <00:55:05.025>this

1118
00:55:05.445 --> 00:55:07.285
<00:55:05.445>because <00:55:05.645>it's <00:55:05.845>taken <00:55:06.045>me <00:55:06.245>almost <00:55:06.445>a <00:55:06.645>year <00:55:06.845>to,

1119
00:55:07.385 --> 00:55:08.565
<00:55:07.385>to <00:55:07.739>actually <00:55:08.093>get <00:55:08.447>framed.

1120
00:55:08.565 --> 00:55:11.285
<00:55:08.565>And <00:55:08.740>I <00:55:08.915>don't <00:55:09.090>know <00:55:09.265>if <00:55:09.440>you <00:55:09.615>can <00:55:09.790>quite <00:55:09.965>see,

1121
00:55:13.425 --> 00:55:16.365
<00:55:13.425>see <00:55:13.565>that <00:55:13.705>there's <00:55:13.845>a <00:55:13.985>little <00:55:14.125>bit <00:55:14.265>of <00:55:14.405>a <00:55:14.545>hint <00:55:14.685>as <00:55:14.825>to

1122
00:55:16.365 --> 00:55:17.365
<00:55:16.365>what <00:55:16.665>this <00:55:16.964>actually <00:55:17.265>is.

1123
00:55:17.945 --> 00:55:21.325
<00:55:17.945>Um, <00:55:18.178>so <00:55:18.411>this <00:55:18.645>is <00:55:18.878>actually <00:55:19.111>an <00:55:19.345>image

1124
00:55:21.465 --> 00:55:23.845
<00:55:21.465>of <00:55:21.698>the <00:55:21.931>Bitcoin <00:55:22.165>SV <00:55:22.398>network <00:55:22.631>seven <00:55:22.865>days

1125
00:55:23.845 --> 00:55:26.605
<00:55:23.845>after <00:55:24.044>the <00:55:24.245>hash <00:55:24.444>war <00:55:24.645>in, <00:55:24.845>uh, <00:55:25.044>November, <00:55:25.245>2018.

1126
00:55:26.985 --> 00:55:28.925
<00:55:26.985>Um, <00:55:27.335>it's <00:55:27.685>a <00:55:28.035>limited <00:55:28.385>edition

1127
00:55:28.925 --> 00:55:32.125
<00:55:28.925>because, <00:55:29.080>um, <00:55:29.236>uh, <00:55:29.391>one <00:55:29.547>of <00:55:29.702>our <00:55:29.858>senior <00:55:30.013>architects <00:55:30.169>who, <00:55:30.325>uh,

1128
00:55:32.125 --> 00:55:35.925
<00:55:32.125>collected <00:55:32.252>the <00:55:32.379>data <00:55:32.506>and <00:55:32.634>built <00:55:32.761>this <00:55:32.888>diagram, <00:55:33.015>um, <00:55:33.143>gave <00:55:33.270>it <00:55:33.397>to <00:55:33.525>me

1129
00:55:35.945 --> 00:55:37.725
<00:55:35.945>and <00:55:36.120>then <00:55:36.295>I <00:55:36.470>made <00:55:36.645>him <00:55:36.820>delete <00:55:36.995>the <00:55:37.170>file <00:55:37.345>so

1130
00:55:37.725 --> 00:55:40.205
<00:55:37.725>that <00:55:37.924>it <00:55:38.125>would <00:55:38.325>have <00:55:38.525>some, <00:55:38.725>uh, <00:55:38.924>some, <00:55:39.125>uh,

1131
00:55:40.465 --> 00:55:42.525
<00:55:40.465>rarity <00:55:40.698>value <00:55:40.931>going <00:55:41.165>forward <00:55:41.398>in <00:55:41.631>the <00:55:41.865>future.

1132
00:55:43.465 --> 00:55:44.465
So

1133
00:55:47.205 --> 00:55:48.965
<00:55:47.205>I <00:55:47.485>just, <00:55:47.765>it <00:55:48.045>Probably <00:55:48.325>wonky <00:55:48.605>now.

1134
00:55:51.755 --> 00:55:55.925
<00:55:51.755>Alright, <00:55:51.955>Can <00:55:52.155>we <00:55:52.355>get <00:55:52.555>dust <00:55:52.755>limited <00:55:52.955>transaction <00:55:53.155>outputs

1135
00:55:55.925 --> 00:55:57.725
<00:55:55.925>reduced <00:55:56.391>or <00:55:56.858>eliminated? <00:55:57.325>Steves,

1136
00:55:58.345 --> 00:55:59.345
<00:55:58.345>You <00:55:58.794>certainly <00:55:59.245>can.

1137
00:55:59.385 --> 00:56:02.125
<00:55:59.385>Uh, <00:55:59.525>and <00:55:59.665>it's <00:55:59.805>simply <00:55:59.945>a <00:56:00.085>question <00:56:00.225>of <00:56:00.365>when, <00:56:00.505>not <00:56:00.645>if, <00:56:00.785>uh,

1138
00:56:02.185 --> 00:56:03.965
<00:56:02.185>we <00:56:02.418>are <00:56:02.651>again, <00:56:02.884>actively <00:56:03.118>working <00:56:03.351>on <00:56:03.585>this.

1139
00:56:04.025 --> 00:56:06.445
<00:56:04.025>In <00:56:04.165>fact, <00:56:04.305>we're <00:56:04.445>working <00:56:04.585>on <00:56:04.725>a, <00:56:04.865>on <00:56:05.005>a <00:56:05.145>feature <00:56:05.285>that <00:56:05.425>sort

1140
00:56:06.445 --> 00:56:09.525
<00:56:06.445>of <00:56:06.585>goes <00:56:06.725>hand <00:56:06.865>in <00:56:07.005>hand <00:56:07.145>in <00:56:07.285>this, <00:56:07.425>which <00:56:07.565>is <00:56:07.705>enabling, <00:56:07.845>uh,

1141
00:56:09.525 --> 00:56:12.565
<00:56:09.525>what <00:56:09.725>I <00:56:09.925>call <00:56:10.125>consolidation <00:56:10.325>transactions <00:56:10.525>to <00:56:10.725>be <00:56:10.925>free.

1142
00:56:13.105 --> 00:56:16.965
<00:56:13.105>Uh, <00:56:13.221>that <00:56:13.338>is <00:56:13.455>where <00:56:13.571>you <00:56:13.688>have <00:56:13.805>a <00:56:13.921>large <00:56:14.038>number <00:56:14.155>of, <00:56:14.271>uh, <00:56:14.388>of <00:56:14.505>inputs,

1143
00:56:17.185 --> 00:56:20.205
<00:56:17.185>uh, <00:56:17.384>spending <00:56:17.585>into <00:56:17.785>a <00:56:17.985>small <00:56:18.185>number <00:56:18.384>of <00:56:18.585>outputs.

1144
00:56:20.305 --> 00:56:23.645
<00:56:20.305>Uh, <00:56:20.460>by <00:56:20.616>doing <00:56:20.771>that, <00:56:20.927>you're <00:56:21.082>actually, <00:56:21.238>um, <00:56:21.393>reducing <00:56:21.549>the <00:56:21.705>size

1145
00:56:23.645 --> 00:56:26.245
<00:56:23.645>of <00:56:23.785>the <00:56:23.925>UTXO <00:56:24.065>set, <00:56:24.205>which <00:56:24.345>is <00:56:24.485>a <00:56:24.625>net <00:56:24.765>benefit <00:56:24.905>to <00:56:25.045>miners.

1146
00:56:26.425 --> 00:56:29.165
<00:56:26.425>Um, <00:56:26.565>so <00:56:26.705>it <00:56:26.845>makes <00:56:26.985>sense <00:56:27.125>to <00:56:27.265>give <00:56:27.405>them <00:56:27.545>the <00:56:27.685>option <00:56:27.825>of

1147
00:56:29.165 --> 00:56:30.645
<00:56:29.165>that <00:56:29.355>being <00:56:29.545>able <00:56:29.735>to <00:56:29.926>be <00:56:30.116>done <00:56:30.306>for <00:56:30.497>free.

1148
00:56:30.945 --> 00:56:33.045
<00:56:30.945>And <00:56:31.100>that <00:56:31.256>opens <00:56:31.411>up <00:56:31.567>a <00:56:31.722>world <00:56:31.878>of <00:56:32.033>different <00:56:32.189>use <00:56:32.345>cases.

1149
00:56:33.505 --> 00:56:36.765
<00:56:33.505>Um, <00:56:33.855>um, <00:56:34.205>very, <00:56:34.555>very <00:56:34.905>micropayments.

1150
00:56:36.905 --> 00:56:39.805
<00:56:36.905>Uh, <00:56:37.045>you <00:56:37.185>could <00:56:37.325>offer <00:56:37.465>a <00:56:37.605>service <00:56:37.745>that <00:56:37.885>someone, <00:56:38.025>uh, <00:56:38.165>as <00:56:38.305>a,

1151
00:56:40.285 --> 00:56:42.685
<00:56:40.285>I <00:56:40.460>guess <00:56:40.634>a <00:56:40.810>value <00:56:40.984>add <00:56:41.160>to <00:56:41.335>an <00:56:41.509>existing <00:56:41.685>transaction

1152
00:56:42.685 --> 00:56:45.405
<00:56:42.685>where <00:56:42.825>someone <00:56:42.965>just <00:56:43.105>adds <00:56:43.245>even <00:56:43.384>a <00:56:43.525>one <00:56:43.665>to <00:56:43.805>tosi <00:56:43.945>output, <00:56:44.085>uh,

1153
00:56:45.505 --> 00:56:48.485
<00:56:45.505>to <00:56:45.705>you <00:56:45.905>as <00:56:46.105>a <00:56:46.305>third <00:56:46.505>party <00:56:46.705>service <00:56:46.905>provider.

1154
00:56:49.065 --> 00:56:51.165
<00:56:49.065>Um, <00:56:49.220>and <00:56:49.376>now <00:56:49.531>that's <00:56:49.687>not <00:56:49.842>very <00:56:49.998>useful <00:56:50.153>on <00:56:50.309>its <00:56:50.465>own,

1155
00:56:51.385 --> 00:56:53.725
<00:56:51.385>but, <00:56:51.540>uh, <00:56:51.696>if <00:56:51.851>you <00:56:52.007>sit <00:56:52.162>there <00:56:52.318>and <00:56:52.473>collect <00:56:52.629>them <00:56:52.785>enough

1156
00:56:53.785 --> 00:56:55.325
<00:56:53.785>and <00:56:54.015>once <00:56:54.247>you've <00:56:54.478>got <00:56:54.709>a <00:56:54.939>thousand <00:56:55.171>or,

1157
00:56:55.425 --> 00:56:57.925
<00:56:55.425>or <00:56:55.600>whatever, <00:56:55.775>um, <00:56:55.950>then <00:56:56.125>uh, <00:56:56.300>you <00:56:56.475>just <00:56:56.650>make <00:56:56.825>one

1158
00:56:57.925 --> 00:57:00.045
<00:56:57.925>of <00:56:58.275>these <00:56:58.625>free <00:56:58.975>consolidation <00:56:59.325>transactions

1159
00:57:00.065 --> 00:57:02.565
<00:57:00.065>and <00:57:00.220>put <00:57:00.376>them <00:57:00.531>together <00:57:00.687>into <00:57:00.842>a, <00:57:00.998>into <00:57:01.153>a <00:57:01.309>single <00:57:01.465>amount

1160
00:57:02.565 --> 00:57:03.645
<00:57:02.565>that's <00:57:03.051>actually <00:57:03.537>useful.

1161
00:57:03.695 --> 00:57:04.695
Again,

1162
00:57:05.975 --> 00:57:06.975
<00:57:05.975>Great. <00:57:06.875>Next,

1163
00:57:06.975 --> 00:57:11.205
<00:57:06.975>how <00:57:07.115>to <00:57:07.255>build <00:57:07.395>simple <00:57:07.535>web <00:57:07.674>app <00:57:07.815>on <00:57:07.955>top <00:57:08.095>of <00:57:08.235>the <00:57:08.375>blockchain.

1164
00:57:13.705 --> 00:57:15.845
<00:57:13.705>Um, <00:57:13.904>how <00:57:14.105>long? <00:57:14.305>Answer <00:57:14.505>that <00:57:14.705>in <00:57:14.904>three <00:57:15.105>seconds.

1165
00:57:16.665 --> 00:57:17.845
<00:57:16.665>How <00:57:16.842>long <00:57:17.019>is <00:57:17.196>a <00:57:17.373>piece <00:57:17.549>of <00:57:17.727>string?

1166
00:57:17.925 --> 00:57:19.365
<00:57:17.925>A <00:57:18.110>really <00:57:18.295>good <00:57:18.480>way <00:57:18.665>to <00:57:18.850>do <00:57:19.035>this <00:57:19.221>is

1167
00:57:19.365 --> 00:57:21.285
<00:57:19.365>to <00:57:19.540>go <00:57:19.714>join <00:57:19.890>a <00:57:20.064>hackathon <00:57:20.240>or <00:57:20.415>something <00:57:20.589>like <00:57:20.765>that.

1168
00:57:21.285 --> 00:57:22.805
<00:57:21.285>There's <00:57:21.513>a <00:57:21.741>lot <00:57:21.969>of <00:57:22.196>helpful <00:57:22.424>people <00:57:22.653>around

1169
00:57:22.835 --> 00:57:23.965
<00:57:22.835>that <00:57:23.089>will, <00:57:23.343>will <00:57:23.597>help <00:57:23.852>you.

1170
00:57:24.465 --> 00:57:28.885
<00:57:24.465>Um, <00:57:24.620>one <00:57:24.776>of <00:57:24.931>the <00:57:25.087>quickest <00:57:25.242>onboarding, <00:57:25.398>um, <00:57:25.553>libraries <00:57:25.709>I <00:57:25.865>suppose

1171
00:57:28.885 --> 00:57:30.325
<00:57:28.885>that <00:57:29.070>I <00:57:29.255>know <00:57:29.440>of <00:57:29.625>would <00:57:29.810>be <00:57:29.995>money <00:57:30.181>button.

1172
00:57:30.465 --> 00:57:32.485
<00:57:30.465>Uh, <00:57:30.665>there's <00:57:30.865>others <00:57:31.065>that, <00:57:31.265>that <00:57:31.465>do <00:57:31.665>similar <00:57:31.865>things,

1173
00:57:32.485 --> 00:57:33.885
<00:57:32.485>but <00:57:32.665>it's, <00:57:32.845>it's <00:57:33.025>one <00:57:33.205>that <00:57:33.385>I <00:57:33.565>know <00:57:33.745>well.

1174
00:57:34.465 --> 00:57:36.965
<00:57:34.465>Um, <00:57:34.640>so <00:57:34.815>go <00:57:34.990>take <00:57:35.165>a <00:57:35.340>look <00:57:35.515>at <00:57:35.690>their <00:57:35.865>API

1175
00:57:37.145 --> 00:57:38.525
<00:57:37.145>and, <00:57:37.393>uh, <00:57:37.641>I <00:57:37.890>know <00:57:38.138>people <00:57:38.387>have,

1176
00:57:38.555 --> 00:57:41.245
<00:57:38.555>have <00:57:38.694>built <00:57:38.835>an <00:57:38.975>application <00:57:39.115>in <00:57:39.254>less <00:57:39.395>than <00:57:39.535>a <00:57:39.674>day <00:57:39.815>using <00:57:39.955>that.

1177
00:57:41.465 --> 00:57:42.465
So

1178
00:57:44.275 --> 00:57:45.565
<00:57:44.275>Will <00:57:44.565>there <00:57:44.855>be <00:57:45.145>systematic <00:57:45.436>courses

1179
00:57:45.665 --> 00:57:46.765
<00:57:45.665>for <00:57:45.912>beginners <00:57:46.160>in <00:57:46.407>the <00:57:46.654>future?

1180
00:57:47.025 --> 00:57:48.245
<00:57:47.025>Let <00:57:47.299>me <00:57:47.574>address <00:57:47.848>that <00:57:48.123>one.

1181
00:57:48.425 --> 00:57:51.405
<00:57:48.425>Um, <00:57:48.625>bitcoin <00:57:48.825>association, <00:57:49.025>one <00:57:49.225>of <00:57:49.425>our <00:57:49.625>key <00:57:49.825>initiatives

1182
00:57:51.465 --> 00:57:54.325
<00:57:51.465>for <00:57:51.605>this <00:57:51.745>year <00:57:51.885>and <00:57:52.025>next <00:57:52.165>year <00:57:52.305>is <00:57:52.445>really, <00:57:52.585>as <00:57:52.725>you're <00:57:52.865>seeing

1183
00:57:54.345 --> 00:57:57.245
<00:57:54.345>to <00:57:54.578>launch <00:57:54.811>developer <00:57:55.044>education <00:57:55.278>and <00:57:55.511>training <00:57:55.745>initiatives.

1184
00:57:57.245 --> 00:57:59.645
<00:57:57.245>So <00:57:57.444>Raylene <00:57:57.645>Wilson <00:57:57.845>is <00:57:58.045>our <00:57:58.245>technical <00:57:58.444>program <00:57:58.645>manager

1185
00:57:59.655 --> 00:58:01.965
<00:57:59.655>overseeing <00:57:59.888>this, <00:58:00.121>and <00:58:00.355>the <00:58:00.588>answer <00:58:00.821>is <00:58:01.055>yes.

1186
00:58:02.305 --> 00:58:06.445
<00:58:02.305>Uh, <00:58:02.432>we <00:58:02.559>will <00:58:02.686>be <00:58:02.814>launching, <00:58:02.941>uh, <00:58:03.068>later <00:58:03.195>this <00:58:03.323>year, <00:58:03.450>a <00:58:03.577>variety <00:58:03.705>of,

1187
00:58:06.705 --> 00:58:10.565
<00:58:06.705>uh, <00:58:06.938>online <00:58:07.171>training <00:58:07.404>programs, <00:58:07.638>one <00:58:07.871>in <00:58:08.105>conjunction

1188
00:58:10.595 --> 00:58:12.885
<00:58:10.595>with <00:58:10.794>the <00:58:10.995>technical <00:58:11.194>university <00:58:11.395>that <00:58:11.595>we're <00:58:11.794>partnering <00:58:11.995>with,

1189
00:58:13.105 --> 00:58:15.845
<00:58:13.105>and <00:58:13.245>another <00:58:13.385>just <00:58:13.525>put <00:58:13.665>out <00:58:13.805>by <00:58:13.945>Bitcoin <00:58:14.085>Association <00:58:14.225>with <00:58:14.365>a <00:58:14.505>goal

1190
00:58:15.845 --> 00:58:18.845
<00:58:15.845>of <00:58:16.044>providing <00:58:16.245>both <00:58:16.444>basic <00:58:16.645>Bitcoin <00:58:16.845>training <00:58:17.044>for <00:58:17.245>developers

1191
00:58:19.185 --> 00:58:20.805
<00:58:19.185>and <00:58:19.418>then <00:58:19.651>moving <00:58:19.884>to <00:58:20.118>a <00:58:20.351>more <00:58:20.585>intermediate

1192
00:58:20.905 --> 00:58:24.125
<00:58:20.905>and <00:58:21.138>advanced <00:58:21.371>levels, <00:58:21.605>allowing <00:58:21.838>developers <00:58:22.071>to, <00:58:22.305>uh,

1193
00:58:24.405 --> 00:58:26.605
<00:58:24.405>complete <00:58:24.638>online <00:58:24.871>courses <00:58:25.105>through <00:58:25.338>an <00:58:25.571>online <00:58:25.805>education

1194
00:58:26.615 --> 00:58:28.445
<00:58:26.615>curriculum, <00:58:27.081>take <00:58:27.548>assessment <00:58:28.015>tests,

1195
00:58:28.625 --> 00:58:31.765
<00:58:28.625>and <00:58:28.800>eventually <00:58:28.975>we <00:58:29.150>want <00:58:29.325>to <00:58:29.500>create <00:58:29.675>a <00:58:29.850>certification <00:58:30.025>program

1196
00:58:32.265 --> 00:58:34.645
<00:58:32.265>to <00:58:32.420>be <00:58:32.576>able <00:58:32.731>to <00:58:32.887>certify <00:58:33.042>the <00:58:33.198>developers <00:58:33.353>at <00:58:33.509>different <00:58:33.665>levels,

1197
00:58:34.785 --> 00:58:37.365
<00:58:34.785>uh, <00:58:34.960>based <00:58:35.134>upon <00:58:35.310>the <00:58:35.484>completion <00:58:35.660>of <00:58:35.835>our <00:58:36.009>online <00:58:36.185>education.

1198
00:58:37.425 --> 00:58:39.445
<00:58:37.425>So <00:58:37.625>look <00:58:37.825>for <00:58:38.025>more <00:58:38.225>information <00:58:38.425>about <00:58:38.625>that <00:58:38.825>later,

1199
00:58:39.465 --> 00:58:41.445
<00:58:39.465>but <00:58:39.640>it'll <00:58:39.815>be <00:58:39.990>coming <00:58:40.165>and <00:58:40.340>launching <00:58:40.515>later <00:58:40.690>this <00:58:40.865>year.

1200
00:58:47.055 --> 00:58:48.245
<00:58:47.055>Steve, <00:58:47.269>do <00:58:47.483>you <00:58:47.697>have <00:58:47.911>any <00:58:48.125>comments?

1201
00:58:48.485 --> 00:58:50.565
<00:58:48.485>I <00:58:48.660>think <00:58:48.835>he <00:58:49.010>made, <00:58:49.185>is <00:58:49.360>that <00:58:49.535>the <00:58:49.710>maximum <00:58:49.885>browser?

1202
00:58:51.365 --> 00:58:52.725
<00:58:51.365>I <00:58:51.569>think <00:58:51.772>that's <00:58:51.977>what <00:58:52.181>that <00:58:52.384>question <00:58:52.589>means.

1203
00:58:53.825 --> 00:58:56.565
<00:58:53.825>Um, <00:58:54.000>I, <00:58:54.174>I've, <00:58:54.350>I've <00:58:54.524>not <00:58:54.700>actually <00:58:54.875>had <00:58:55.049>a <00:58:55.225>chance

1204
00:58:56.565 --> 00:58:59.605
<00:58:56.565>to <00:58:56.705>look <00:58:56.845>at <00:58:56.985>the <00:58:57.125>maximum <00:58:57.265>browser <00:58:57.405>myself, <00:58:57.545>uh, <00:58:57.685>in, <00:58:57.825>in <00:58:57.965>depth

1205
00:58:59.625 --> 00:59:02.685
<00:58:59.625>and <00:58:59.780>in <00:58:59.936>detail, <00:59:00.091>but, <00:59:00.247>um, <00:59:00.402>one <00:59:00.558>thing <00:59:00.713>that <00:59:00.869>I <00:59:01.025>suppose

1206
00:59:02.685 --> 00:59:06.085
<00:59:02.685>that <00:59:02.792>I <00:59:02.900>will <00:59:03.008>say <00:59:03.115>about <00:59:03.223>it <00:59:03.331>is <00:59:03.438>that <00:59:03.546>it <00:59:03.654>is <00:59:03.761>at <00:59:03.869>least <00:59:03.977>a <00:59:04.085>year

1207
00:59:06.085 --> 00:59:08.565
<00:59:06.085>or <00:59:06.225>two <00:59:06.365>ahead <00:59:06.505>of <00:59:06.645>when <00:59:06.785>I <00:59:06.925>expected <00:59:07.065>it <00:59:07.205>to <00:59:07.345>be, <00:59:07.485>um,

1208
00:59:09.465 --> 00:59:10.885
<00:59:09.465>not <00:59:10.104>maximum <00:59:10.743>specifically,

1209
00:59:10.905 --> 00:59:13.205
<00:59:10.905>but <00:59:11.105>a <00:59:11.305>browser <00:59:11.505>that <00:59:11.705>was <00:59:11.905>geared <00:59:12.105>toward, <00:59:12.305>uh,

1210
00:59:13.205 --> 00:59:14.645
<00:59:13.205>toward <00:59:13.853>METNET <00:59:14.501>applications.

1211
00:59:14.805 --> 00:59:16.005
<00:59:14.805>I <00:59:14.984>thought <00:59:15.165>this <00:59:15.345>was <00:59:15.525>gonna <00:59:15.705>be <00:59:15.885>something

1212
00:59:16.005 --> 00:59:18.085
<00:59:16.005>that <00:59:16.145>would <00:59:16.285>take <00:59:16.425>quite <00:59:16.565>a <00:59:16.705>long <00:59:16.845>time <00:59:16.985>for <00:59:17.125>someone <00:59:17.265>to <00:59:17.405>build.

1213
00:59:18.665 --> 00:59:21.925
<00:59:18.665>Um, <00:59:18.805>so <00:59:18.945>the <00:59:19.085>approach <00:59:19.225>that, <00:59:19.365>um, <00:59:19.505>that <00:59:19.645>the <00:59:19.785>team <00:59:19.925>has, <00:59:20.065>uh,

1214
00:59:22.025 --> 00:59:25.365
<00:59:22.025>has <00:59:22.180>taken, <00:59:22.336>um, <00:59:22.491>I, <00:59:22.647>I <00:59:22.802>personally <00:59:22.958>think <00:59:23.113>is <00:59:23.269>really <00:59:23.425>impressive.

1215
00:59:25.945 --> 00:59:28.365
<00:59:25.945>Um, <00:59:26.145>I, <00:59:26.345>uh, <00:59:26.545>I <00:59:26.745>look <00:59:26.945>forward <00:59:27.145>to <00:59:27.345>seeing

1216
00:59:28.365 --> 00:59:32.685
<00:59:28.365>how <00:59:28.504>other <00:59:28.645>people <00:59:28.785>start <00:59:28.924>integrating <00:59:29.064>it <00:59:29.205>and, <00:59:29.345>um, <00:59:29.484>um, <00:59:29.625>and, <00:59:29.765>uh,

1217
00:59:32.865 --> 00:59:34.645
<00:59:32.865>and <00:59:33.064>making <00:59:33.265>it, <00:59:33.464>uh, <00:59:33.665>part <00:59:33.865>of <00:59:34.064>the, <00:59:34.265>the,

1218
00:59:34.645 --> 00:59:36.885
<00:59:34.645>the <00:59:34.878>daily <00:59:35.111>Bitcoin <00:59:35.345>kind <00:59:35.578>of <00:59:35.811>user <00:59:36.045>experience.

1219
00:59:37.795 --> 00:59:41.045
<00:59:37.795>Yeah, <00:59:37.950>I <00:59:38.106>encourage <00:59:38.261>everyone <00:59:38.417>to <00:59:38.572>download <00:59:38.728>the <00:59:38.883>Maxon <00:59:39.039>six <00:59:39.195>beta,

1220
00:59:41.155 --> 00:59:43.365
<00:59:41.155>test <00:59:41.310>it <00:59:41.466>out, <00:59:41.621>check <00:59:41.777>it <00:59:41.932>out, <00:59:42.088>play <00:59:42.243>around <00:59:42.399>with <00:59:42.555>it.

1221
00:59:43.475 --> 00:59:44.565
<00:59:43.475>I've <00:59:43.720>started <00:59:43.965>doing <00:59:44.210>it <00:59:44.456>myself.

1222
00:59:44.885 --> 00:59:46.845
<00:59:44.885>I <00:59:45.040>know <00:59:45.196>Jeff <00:59:45.351>Chen <00:59:45.507>and <00:59:45.662>his <00:59:45.818>team <00:59:45.973>are <00:59:46.129>definitely <00:59:46.285>open

1223
00:59:46.845 --> 00:59:48.085
<00:59:46.845>to <00:59:47.216>any <00:59:47.589>feedback <00:59:47.961>comments.

1224
00:59:48.275 --> 00:59:51.005
<00:59:48.275>It's <00:59:48.415>just <00:59:48.555>a <00:59:48.695>start, <00:59:48.835>and <00:59:48.975>they're <00:59:49.115>willing <00:59:49.255>to <00:59:49.395>take <00:59:49.535>all <00:59:49.675>kinds

1225
00:59:51.005 --> 00:59:53.405
<00:59:51.005>of <00:59:51.205>suggestions <00:59:51.405>for, <00:59:51.605>for <00:59:51.805>that <00:59:52.005>related <00:59:52.205>to <00:59:52.405>Max.

1226
00:59:53.425 --> 00:59:54.885
<00:59:53.425>And, <00:59:53.863>um, <00:59:54.301>uh, <00:59:54.739>Jeff

1227
00:59:54.885 --> 00:59:56.565
<00:59:54.885>and <00:59:55.165>his <00:59:55.445>team <00:59:55.725>are <00:59:56.005>also, <00:59:56.285>uh,

1228
00:59:56.565 --> 00:59:58.245
<00:59:56.565>launching <00:59:56.915>something <00:59:57.265>called <00:59:57.615>NB <00:59:57.965>Domain,

1229
00:59:58.245 --> 00:59:59.805
<00:59:58.245>which <00:59:58.525>is <00:59:58.805>creating <00:59:59.085>a <00:59:59.365>new <00:59:59.645>form

1230
00:59:59.805 --> 01:00:01.645
<00:59:59.805>of <01:00:00.085>domain <01:00:00.365>system <01:00:00.645>for <01:00:00.924>the <01:00:01.205>blockchain.

1231
01:00:01.645 --> 01:00:05.045
<01:00:01.645>Like <01:00:01.800>we <01:00:01.956>have <01:00:02.111>a, <01:00:02.267>you <01:00:02.422>know, <01:00:02.578>internet <01:00:02.733>URL <01:00:02.889>domain <01:00:03.045>system.

1232
01:00:05.465 --> 01:00:08.645
<01:00:05.465>Uh, <01:00:05.665>he's <01:00:05.865>leading <01:00:06.065>a <01:00:06.265>initiative <01:00:06.465>to <01:00:06.665>create, <01:00:06.865>uh,

1233
01:00:08.765 --> 01:00:10.845
<01:00:08.765>a <01:00:08.964>new <01:00:09.165>domain <01:00:09.365>system <01:00:09.565>for <01:00:09.765>the <01:00:09.964>blockchain <01:00:10.165>world.

1234
01:00:10.865 --> 01:00:12.565
<01:00:10.865>So <01:00:11.020>I <01:00:11.176>think <01:00:11.331>that's <01:00:11.487>really <01:00:11.642>fascinating <01:00:11.798>to <01:00:11.953>watch <01:00:12.109>as <01:00:12.265>well.

1235
01:00:15.775 --> 01:00:20.245
<01:00:15.775>Steve <01:00:15.915>will <01:00:16.055>be <01:00:16.195>a <01:00:16.335>better <01:00:16.475>alternative <01:00:16.615>for <01:00:16.755>op <01:00:16.895>false <01:00:17.035>op <01:00:17.175>return,

1236
01:00:20.465 --> 01:00:21.805
<01:00:20.465>or <01:00:20.766>it's <01:00:21.068>the <01:00:21.369>final <01:00:21.671>solution.

1237
01:00:21.805 --> 01:00:23.005
<01:00:21.805>Will <01:00:22.020>there <01:00:22.237>be <01:00:22.453>a <01:00:22.669>better <01:00:22.885>alternative?

1238
01:00:24.665 --> 01:00:26.485
<01:00:24.665>Uh, <01:00:24.945>certainly <01:00:25.225>not <01:00:25.505>the <01:00:25.785>final <01:00:26.065>solution.

1239
01:00:26.485 --> 01:00:27.525
<01:00:26.485>There's, <01:00:26.797>uh, <01:00:27.109>there's <01:00:27.421>plenty

1240
01:00:27.525 --> 01:00:29.285
<01:00:27.525>of <01:00:27.758>other <01:00:27.991>solutions <01:00:28.225>out <01:00:28.458>there <01:00:28.691>right <01:00:28.925>now.

1241
01:00:29.625 --> 01:00:33.045
<01:00:29.625>Um, <01:00:29.765>one <01:00:29.905>thing <01:00:30.045>that <01:00:30.185>I'm <01:00:30.325>kind <01:00:30.465>of <01:00:30.605>hoping <01:00:30.745>people <01:00:30.885>will <01:00:31.025>start

1242
01:00:33.045 --> 01:00:36.045
<01:00:33.045>to <01:00:33.200>explore, <01:00:33.356>uh, <01:00:33.511>in <01:00:33.667>the <01:00:33.822>near <01:00:33.978>future <01:00:34.133>is <01:00:34.289>embedding, <01:00:34.445>um,

1243
01:00:36.075 --> 01:00:38.605
<01:00:36.075>data <01:00:36.355>in, <01:00:36.634>um, <01:00:36.915>in <01:00:37.194>spendable <01:00:37.475>outputs.

1244
01:00:38.745 --> 01:00:42.045
<01:00:38.745>Um, <01:00:38.920>for <01:00:39.095>example, <01:00:39.270>um, <01:00:39.444>some <01:00:39.620>people <01:00:39.795>that <01:00:39.970>are <01:00:40.145>familiar

1245
01:00:42.045 --> 01:00:44.285
<01:00:42.045>with <01:00:42.278>some <01:00:42.511>basic <01:00:42.745>scripting, <01:00:42.978>the <01:00:43.211>typical <01:00:43.445>pay

1246
01:00:44.285 --> 01:00:48.645
<01:00:44.285>to <01:00:44.401>public <01:00:44.518>key <01:00:44.634>hash, <01:00:44.751>uh, <01:00:44.868>type <01:00:44.984>of <01:00:45.101>script, <01:00:45.218>um, <01:00:45.335>uh, <01:00:45.451>all <01:00:45.568>you <01:00:45.685>need

1247
01:00:48.645 --> 01:00:51.285
<01:00:48.645>to <01:00:48.761>do <01:00:48.878>is <01:00:48.995>put <01:00:49.111>an <01:00:49.228>opportune <01:00:49.345>at <01:00:49.461>the <01:00:49.578>very <01:00:49.695>end <01:00:49.811>of <01:00:49.928>that <01:00:50.045>script,

1248
01:00:51.465 --> 01:00:54.445
<01:00:51.465>and <01:00:51.572>then <01:00:51.680>you <01:00:51.788>can <01:00:51.895>put <01:00:52.003>more <01:00:52.111>data <01:00:52.218>on <01:00:52.326>the <01:00:52.434>end <01:00:52.541>of <01:00:52.649>it, <01:00:52.757>uh, <01:00:52.865>or

1249
01:00:54.625 --> 01:00:56.525
<01:00:54.625>before <01:00:54.858>the <01:00:55.091>script, <01:00:55.325>you <01:00:55.558>can <01:00:55.791>push <01:00:56.025>data

1250
01:00:56.585 --> 01:00:59.365
<01:00:56.585>and <01:00:56.725>then <01:00:56.865>drop <01:00:57.005>it <01:00:57.145>again, <01:00:57.285>uh, <01:00:57.425>off <01:00:57.565>the <01:00:57.705>stack <01:00:57.845>straight <01:00:57.985>away.

1251
01:00:59.545 --> 01:01:01.645
<01:00:59.545>Uh, <01:00:59.745>it's <01:00:59.945>another <01:01:00.145>way <01:01:00.345>to, <01:01:00.545>to <01:01:00.745>embed <01:01:00.945>data.

1252
01:01:02.225 --> 01:01:04.925
<01:01:02.225>So, <01:01:02.365>um, <01:01:02.505>that <01:01:02.645>solves <01:01:02.785>one <01:01:02.924>problem <01:01:03.065>that <01:01:03.205>a <01:01:03.345>lot <01:01:03.485>of <01:01:03.625>people,

1253
01:01:05.165 --> 01:01:07.525
<01:01:05.165>I <01:01:05.292>think <01:01:05.419>have <01:01:05.546>been, <01:01:05.674>um, <01:01:05.801>there's <01:01:05.928>been <01:01:06.055>a <01:01:06.183>lot <01:01:06.310>of <01:01:06.437>debate, <01:01:06.565>hot,

1254
01:01:07.545 --> 01:01:09.285
<01:01:07.545>hot <01:01:07.825>topic <01:01:08.105>on <01:01:08.385>Twitter, <01:01:08.665>uh, <01:01:08.945>lately.

1255
01:01:09.435 --> 01:01:12.205
<01:01:09.435>What <01:01:09.575>happens <01:01:09.715>if <01:01:09.855>miners <01:01:09.995>don't <01:01:10.134>keep <01:01:10.275>all <01:01:10.415>of <01:01:10.555>the <01:01:10.695>data, <01:01:10.835>right?

1256
01:01:12.355 --> 01:01:14.965
<01:01:12.355>Well, <01:01:12.495>that's <01:01:12.635>one <01:01:12.775>solution <01:01:12.915>is <01:01:13.055>put <01:01:13.195>it <01:01:13.335>in <01:01:13.475>a <01:01:13.615>spendable <01:01:13.755>output,

1257
01:01:15.025 --> 01:01:16.365
<01:01:15.025>and <01:01:15.266>they <01:01:15.507>have, <01:01:15.748>have <01:01:15.989>no <01:01:16.231>option.

1258
01:01:16.465 --> 01:01:18.605
<01:01:16.465>Um, <01:01:16.620>they'll <01:01:16.776>probably <01:01:16.931>charge <01:01:17.087>you <01:01:17.242>a <01:01:17.398>higher <01:01:17.553>fee <01:01:17.709>for <01:01:17.865>it,

1259
01:01:18.705 --> 01:01:21.125
<01:01:18.705>but, <01:01:19.171>um, <01:01:19.638>um, <01:01:20.105>uh,

1260
01:01:21.185 --> 01:01:23.765
<01:01:21.185>but <01:01:21.340>it, <01:01:21.496>it <01:01:21.651>shows <01:01:21.807>that <01:01:21.962>there's, <01:01:22.118>there's <01:01:22.273>many <01:01:22.429>choices <01:01:22.585>and,

1261
01:01:23.765 --> 01:01:25.045
<01:01:23.765>and <01:01:23.995>many <01:01:24.225>ways <01:01:24.456>to <01:01:24.686>do <01:01:24.917>things.

1262
01:01:25.265 --> 01:01:28.245
<01:01:25.265>Uh, <01:01:25.404>in, <01:01:25.545>in, <01:01:25.685>in <01:01:25.825>Bitcoin, <01:01:25.964>what <01:01:26.105>I <01:01:26.245>can <01:01:26.384>say <01:01:26.525>is <01:01:26.665>op,

1263
01:01:28.245 --> 01:01:29.925
<01:01:28.245>false <01:01:28.478>op <01:01:28.711>return <01:01:28.944>won't <01:01:29.178>ever <01:01:29.411>go <01:01:29.645>away.

1264
01:01:30.265 --> 01:01:32.205
<01:01:30.265>Uh, <01:01:30.464>it's <01:01:30.665>possible <01:01:30.865>now <01:01:31.065>we're <01:01:31.265>not <01:01:31.464>gonna <01:01:31.665>be

1265
01:01:32.325 --> 01:01:33.365
<01:01:32.325>changing <01:01:32.636>the <01:01:32.948>protocol <01:01:33.261>again.

1266
01:01:33.585 --> 01:01:35.765
<01:01:33.585>So <01:01:33.760>there's <01:01:33.935>nothing <01:01:34.110>to <01:01:34.285>stop <01:01:34.460>you <01:01:34.635>from <01:01:34.810>using <01:01:34.985>it

1267
01:01:35.765 --> 01:01:37.045
<01:01:35.765>that <01:01:35.929>way, <01:01:36.094>if <01:01:36.258>that's <01:01:36.423>how <01:01:36.587>you <01:01:36.752>want <01:01:36.917>to.

1268
01:01:38.715 --> 01:01:41.645
<01:01:38.715>What <01:01:38.948>are <01:01:39.181>your <01:01:39.415>favorite <01:01:39.648>BSV <01:01:39.881>projects? <01:01:40.115>Jan?

1269
01:01:41.795 --> 01:01:43.245
<01:01:41.795>What <01:01:42.230>a <01:01:42.665>tough <01:01:43.100>question.

1270
01:01:44.275 --> 01:01:46.925
<01:01:44.275>It's, <01:01:44.475>um, <01:01:44.675>it's <01:01:44.875>like <01:01:45.075>asking <01:01:45.275>someone, <01:01:45.475>a <01:01:45.675>parent

1271
01:01:46.925 --> 01:01:47.965
<01:01:46.925>to <01:01:47.159>choose <01:01:47.393>among <01:01:47.627>their <01:01:47.861>children.

1272
01:01:48.195 --> 01:01:49.205
<01:01:48.195>What <01:01:48.498>are <01:01:48.801>our <01:01:49.104>favorites?

1273
01:01:49.505 --> 01:01:51.685
<01:01:49.505>Um, <01:01:49.680>there <01:01:49.855>are <01:01:50.030>so <01:01:50.205>many <01:01:50.380>great <01:01:50.555>ones <01:01:50.730>out <01:01:50.905>there.

1274
01:01:51.685 --> 01:01:54.125
<01:01:51.685>That's <01:01:51.884>why <01:01:52.085>I, <01:01:52.285>I <01:01:52.485>personally <01:01:52.685>can't <01:01:52.884>name <01:01:53.085>one.

1275
01:01:54.125 --> 01:01:58.645
<01:01:54.125>Obviously, <01:01:54.280>I <01:01:54.436>think <01:01:54.591>things <01:01:54.747>like <01:01:54.902>EHR <01:01:55.058>datas, <01:01:55.213>um, <01:01:55.369>pilot <01:01:55.525>project

1276
01:01:58.945 --> 01:02:01.005
<01:01:58.945>to, <01:01:59.295>uh, <01:01:59.645>use <01:01:59.995>the <01:02:00.345>blockchain

1277
01:02:01.185 --> 01:02:03.925
<01:02:01.185>for <01:02:01.535>opioid <01:02:01.884>pharmaceutical <01:02:02.235>prescription <01:02:02.585>management

1278
01:02:03.925 --> 01:02:06.005
<01:02:03.925>and <01:02:04.275>creating <01:02:04.625>a <01:02:04.975>bigger <01:02:05.325>mission,

1279
01:02:06.185 --> 01:02:09.165
<01:02:06.185>the <01:02:06.384>global <01:02:06.585>electronic <01:02:06.785>health <01:02:06.985>record <01:02:07.185>so <01:02:07.384>that <01:02:07.585>consumers,

1280
01:02:09.765 --> 01:02:11.485
<01:02:09.765>patients <01:02:09.964>can <01:02:10.165>be <01:02:10.365>consumers <01:02:10.565>of <01:02:10.765>the <01:02:10.964>healthcare <01:02:11.165>data

1281
01:02:11.505 --> 01:02:13.125
<01:02:11.505>and <01:02:11.785>monetize <01:02:12.065>their <01:02:12.345>own <01:02:12.625>healthcare <01:02:12.905>data.

1282
01:02:13.325 --> 01:02:15.605
<01:02:13.325>I <01:02:13.674>think <01:02:14.024>that <01:02:14.375>is <01:02:14.725>fantastic

1283
01:02:15.635 --> 01:02:19.565
<01:02:15.635>because <01:02:15.835>it <01:02:16.035>demonstrates <01:02:16.235>really <01:02:16.435>the <01:02:16.635>much <01:02:16.835>bigger <01:02:17.035>potential

1284
01:02:19.705 --> 01:02:22.805
<01:02:19.705>and <01:02:19.880>vision <01:02:20.055>of <01:02:20.230>what <01:02:20.404>a <01:02:20.580>global <01:02:20.755>blockchain <01:02:20.930>can <01:02:21.105>be

1285
01:02:22.805 --> 01:02:24.045
<01:02:22.805>beyond <01:02:23.084>just <01:02:23.363>a <01:02:23.642>payment <01:02:23.921>system.

1286
01:02:24.045 --> 01:02:26.685
<01:02:24.045>That's <01:02:24.245>just <01:02:24.445>one <01:02:24.645>of <01:02:24.845>my <01:02:25.045>many, <01:02:25.245>many <01:02:25.445>favorites.

1287
01:02:26.825 --> 01:02:29.205
<01:02:26.825>And <01:02:27.000>the <01:02:27.174>other <01:02:27.350>answer <01:02:27.524>is, <01:02:27.700>anything <01:02:27.875>Steve <01:02:28.049>Shatters <01:02:28.225>does.

1288
01:02:31.455 --> 01:02:34.005
<01:02:31.455>Steve, <01:02:31.610>you <01:02:31.766>have <01:02:31.921>any <01:02:32.077>favorites <01:02:32.232>you <01:02:32.388>wanna <01:02:32.543>mention? <01:02:32.699>Do <01:02:32.855>I

1289
01:02:34.005 --> 01:02:35.005
<01:02:34.005>Have <01:02:34.185>any <01:02:34.365>favorites? <01:02:34.545>I <01:02:34.725>mean, <01:02:34.905>there's

1290
01:02:35.005 --> 01:02:37.125
<01:02:35.005>a, <01:02:35.180>there's <01:02:35.355>a <01:02:35.530>lot <01:02:35.705>that <01:02:35.880>I <01:02:36.055>actually <01:02:36.230>think <01:02:36.405>a,

1291
01:02:37.285 --> 01:02:40.885
<01:02:37.285>a <01:02:37.424>really <01:02:37.565>impressive, <01:02:37.705>um, <01:02:37.845>s <01:02:37.984>script <01:02:38.125>is, <01:02:38.265>is <01:02:38.404>one <01:02:38.545>that's, <01:02:38.685>um,

1292
01:02:41.185 --> 01:02:43.485
<01:02:41.185>that's, <01:02:41.340>uh, <01:02:41.496>really <01:02:41.651>knocked <01:02:41.807>my <01:02:41.962>socks <01:02:42.118>off <01:02:42.273>so <01:02:42.429>much <01:02:42.585>so

1293
01:02:43.485 --> 01:02:45.645
<01:02:43.485>that <01:02:43.685>it <01:02:43.885>inspired <01:02:44.085>me <01:02:44.285>to <01:02:44.485>start, <01:02:44.685>uh, <01:02:44.885>my,

1294
01:02:45.945 --> 01:02:48.605
<01:02:45.945>my <01:02:46.120>own <01:02:46.295>weekend <01:02:46.470>project, <01:02:46.645>uh, <01:02:46.820>doing <01:02:46.995>something, <01:02:47.170>uh, <01:02:47.345>kind

1295
01:02:48.605 --> 01:02:51.285
<01:02:48.605>of <01:02:48.885>similar, <01:02:49.165>um, <01:02:49.445>biting, <01:02:49.725>formerly <01:02:50.005>known

1296
01:02:51.285 --> 01:02:53.445
<01:02:51.285>as <01:02:51.440>Uptime <01:02:51.596>sv <01:02:51.751>not <01:02:51.907>a <01:02:52.062>fan <01:02:52.218>of <01:02:52.373>the <01:02:52.529>new <01:02:52.685>name,

1297
01:02:53.505 --> 01:02:56.485
<01:02:53.505>but <01:02:53.680>I <01:02:53.855>understand <01:02:54.030>that <01:02:54.205>uptime <01:02:54.380>was <01:02:54.555>just, <01:02:54.730>uh, <01:02:54.905>asking

1298
01:02:56.545 --> 01:02:58.325
<01:02:56.545>for <01:02:56.778>a <01:02:57.011>trademark <01:02:57.245>lawsuit <01:02:57.478>down <01:02:57.711>the <01:02:57.945>track.

1299
01:02:58.865 --> 01:03:01.805
<01:02:58.865>Um, <01:02:59.004>I <01:02:59.145>think <01:02:59.285>that's <01:02:59.424>a <01:02:59.564>really <01:02:59.705>clever <01:02:59.845>way <01:02:59.984>to, <01:03:00.125>um, <01:03:00.265>to,

1300
01:03:01.805 --> 01:03:05.165
<01:03:01.805>to <01:03:01.980>make <01:03:02.154>use <01:03:02.330>of, <01:03:02.504>of <01:03:02.680>Bitcoin, <01:03:02.855>uh, <01:03:03.029>SB <01:03:03.205>Coder.

1301
01:03:05.265 --> 01:03:08.125
<01:03:05.265>Um, <01:03:05.404>I <01:03:05.545>mean, <01:03:05.685>I <01:03:05.825>was <01:03:05.964>on <01:03:06.105>the <01:03:06.245>judging <01:03:06.384>panel <01:03:06.525>for, <01:03:06.665>for,

1302
01:03:08.185 --> 01:03:09.285
<01:03:08.185>for <01:03:08.515>the <01:03:08.845>two <01:03:09.174>hackathons

1303
01:03:09.285 --> 01:03:12.085
<01:03:09.285>and <01:03:09.440>those <01:03:09.596>two <01:03:09.751>ones, <01:03:09.907>uh, <01:03:10.062>won <01:03:10.218>a <01:03:10.373>couple <01:03:10.529>of <01:03:10.685>them.

1304
01:03:12.225 --> 01:03:14.165
<01:03:12.225>So, <01:03:12.505>um, <01:03:12.785>that <01:03:13.065>shows, <01:03:13.345>but <01:03:13.625>those

1305
01:03:14.165 --> 01:03:16.365
<01:03:14.165>People <01:03:14.340>who <01:03:14.515>don't <01:03:14.690>know <01:03:14.865>what, <01:03:15.040>uh, <01:03:15.215>bit <01:03:15.390>Ping <01:03:15.565>is,

1306
01:03:16.475 --> 01:03:20.165
<01:03:16.475>it's <01:03:16.708>a <01:03:16.941>crowdsource, <01:03:17.174>uh, <01:03:17.408>essentially <01:03:17.641>network <01:03:17.875>intelligence

1307
01:03:20.185 --> 01:03:21.965
<01:03:20.185>for <01:03:20.651>monitoring <01:03:21.118>website <01:03:21.585>up

1308
01:03:21.965 --> 01:03:25.285
<01:03:21.965>and <01:03:22.120>downtime <01:03:22.276>as <01:03:22.431>well <01:03:22.587>as <01:03:22.742>other <01:03:22.898>services, <01:03:23.053>um, <01:03:23.209>that <01:03:23.365>use,

1309
01:03:25.745 --> 01:03:27.565
<01:03:25.745>you <01:03:26.025>know, <01:03:26.305>uh, <01:03:26.585>user <01:03:26.865>mobile <01:03:27.145>devices

1310
01:03:27.745 --> 01:03:29.925
<01:03:27.745>and <01:03:27.920>devices <01:03:28.095>around <01:03:28.270>the <01:03:28.444>world <01:03:28.620>to <01:03:28.795>provide <01:03:28.970>that <01:03:29.145>information,

1311
01:03:30.025 --> 01:03:31.205
<01:03:30.025>you <01:03:30.237>know, <01:03:30.449>manage <01:03:30.662>on <01:03:30.874>the <01:03:31.087>blockchain.

1312
01:03:32.595 --> 01:03:36.325
<01:03:32.595>Yeah. <01:03:33.061>Do <01:03:33.528>you <01:03:33.995>plan

1313
01:03:36.325 --> 01:03:37.605
<01:03:36.325>to <01:03:36.709>support <01:03:37.093>pay <01:03:37.477>id?

1314
01:03:40.985 --> 01:03:43.685
<01:03:40.985>Uh, <01:03:41.218>pay <01:03:41.451>id, <01:03:41.685>if <01:03:41.918>I <01:03:42.151>recall <01:03:42.385>rightly.

1315
01:03:44.005 --> 01:03:48.405
<01:03:44.005>I <01:03:44.160>think <01:03:44.316>this <01:03:44.471>is <01:03:44.627>a, <01:03:44.782>um, <01:03:44.938>uh, <01:03:45.093>an <01:03:45.249>identity <01:03:45.405>mechanism

1316
01:03:48.405 --> 01:03:51.125
<01:03:48.405>that <01:03:48.638>was <01:03:48.871>recently <01:03:49.105>released, <01:03:49.338>uh, <01:03:49.571>and <01:03:49.805>available.

1317
01:03:52.425 --> 01:03:56.405
<01:03:52.425>Um, <01:03:52.565>it's <01:03:52.705>meant <01:03:52.845>to <01:03:52.985>be <01:03:53.125>sort <01:03:53.265>of <01:03:53.405>a <01:03:53.545>payment <01:03:53.685>mechanism <01:03:53.825>agnostic.

1318
01:03:56.475 --> 01:04:00.845
<01:03:56.475>It's, <01:03:56.615>uh, <01:03:56.755>it <01:03:56.895>addresses <01:03:57.035>BTC, <01:03:57.174>it <01:03:57.315>addresses <01:03:57.455>a <01:03:57.595>CH <01:03:57.735>transfers <01:03:57.875>and,

1319
01:04:01.105 --> 01:04:02.365
<01:04:01.105>and <01:04:01.294>a <01:04:01.483>whole <01:04:01.672>bunch <01:04:01.861>of <01:04:02.049>other <01:04:02.238>things.

1320
01:04:03.025 --> 01:04:05.725
<01:04:03.025>Um, <01:04:03.225>whether <01:04:03.425>I <01:04:03.625>plan <01:04:03.825>to <01:04:04.025>support <01:04:04.225>it <01:04:04.425>well,

1321
01:04:05.725 --> 01:04:07.125
<01:04:05.725>I <01:04:05.935>don't <01:04:06.145>have <01:04:06.355>any <01:04:06.565>business <01:04:06.775>that, <01:04:06.985>uh,

1322
01:04:07.125 --> 01:04:08.485
<01:04:07.125>that <01:04:07.533>personally <01:04:07.941>needs <01:04:08.349>it.

1323
01:04:08.585 --> 01:04:11.765
<01:04:08.585>But, <01:04:08.760>um, <01:04:08.935>do <01:04:09.110>I <01:04:09.285>think <01:04:09.460>that, <01:04:09.635>um, <01:04:09.810>a <01:04:09.985>standard

1324
01:04:11.765 --> 01:04:13.205
<01:04:11.765>that <01:04:12.413>promotes <01:04:13.060>interoperability

1325
01:04:13.205 --> 01:04:16.325
<01:04:13.205>between <01:04:13.345>payment <01:04:13.485>systems <01:04:13.625>is <01:04:13.765>a <01:04:13.904>good <01:04:14.045>idea <01:04:14.185>for <01:04:14.325>BSV <01:04:14.465>to <01:04:14.605>support?

1326
01:04:16.505 --> 01:04:18.525
<01:04:16.505>Uh, <01:04:16.785>yes. <01:04:17.065>Um, <01:04:17.345>yes, <01:04:17.625>I <01:04:17.905>do.

1327
01:04:18.625 --> 01:04:22.085
<01:04:18.625>Interoperability, <01:04:18.825>uh, <01:04:19.025>will <01:04:19.225>help <01:04:19.425>people <01:04:19.625>to <01:04:19.825>onboard, <01:04:20.025>uh,

1328
01:04:22.085 --> 01:04:23.085
<01:04:22.085>onto <01:04:22.985>BSV.

1329
01:04:23.225 --> 01:04:25.725
<01:04:23.225>And, <01:04:23.424>um, <01:04:23.625>if <01:04:23.825>a <01:04:24.025>bunch <01:04:24.225>of, <01:04:24.424>uh, <01:04:24.625>um,

1330
01:04:26.155 --> 01:04:29.005
<01:04:26.154>user <01:04:26.388>facing <01:04:26.621>applications <01:04:26.854>are <01:04:27.088>implementing <01:04:27.321>this <01:04:27.555>standard,

1331
01:04:29.195 --> 01:04:31.405
<01:04:29.195>then <01:04:29.370>it <01:04:29.545>makes <01:04:29.720>it <01:04:29.895>much <01:04:30.070>easier <01:04:30.245>for <01:04:30.420>those <01:04:30.595>applications

1332
01:04:31.465 --> 01:04:33.605
<01:04:31.465>to <01:04:31.665>integrate <01:04:31.865>with <01:04:32.065>SV <01:04:32.265>in <01:04:32.465>the <01:04:32.665>future. <01:04:32.865>So,

1333
01:04:34.355 --> 01:04:35.355
<01:04:34.355>Yeah. <01:04:34.805>On <01:04:35.255>that

1334
01:04:35.355 --> 01:04:37.405
<01:04:35.355>note, <01:04:35.530>I, <01:04:35.705>uh, <01:04:35.880>I <01:04:36.055>take <01:04:36.230>this <01:04:36.405>moment <01:04:36.580>to <01:04:36.755>mention

1335
01:04:37.465 --> 01:04:38.805
<01:04:37.465>for <01:04:37.766>our <01:04:38.068>audience <01:04:38.369>that <01:04:38.671>one

1336
01:04:38.805 --> 01:04:41.605
<01:04:38.805>of <01:04:39.004>the <01:04:39.205>initiatives <01:04:39.404>Bitcoin <01:04:39.605>Association <01:04:39.805>has, <01:04:40.004>uh, <01:04:40.205>launched

1337
01:04:41.985 --> 01:04:44.565
<01:04:41.985>and <01:04:42.185>recently <01:04:42.385>announced <01:04:42.585>the, <01:04:42.785>uh, <01:04:42.985>initial <01:04:43.185>committee <01:04:43.385>members

1338
01:04:44.565 --> 01:04:47.885
<01:04:44.565>for <01:04:44.720>it <01:04:44.876>is <01:04:45.031>a <01:04:45.187>technical <01:04:45.342>standards <01:04:45.498>committee <01:04:45.653>for <01:04:45.809>Bitcoin <01:04:45.965>sv.

1339
01:04:48.265 --> 01:04:51.525
<01:04:48.265>Uh, <01:04:48.440>we <01:04:48.615>know <01:04:48.790>that <01:04:48.964>technology <01:04:49.140>develops <01:04:49.315>much <01:04:49.490>more <01:04:49.665>quickly

1340
01:04:52.025 --> 01:04:55.565
<01:04:52.025>and <01:04:52.258>grows <01:04:52.491>if <01:04:52.725>there <01:04:52.958>are <01:04:53.191>interoperable <01:04:53.425>standards.

1341
01:04:55.665 --> 01:04:58.125
<01:04:55.665>So <01:04:55.865>Steve <01:04:56.065>is <01:04:56.265>chairing <01:04:56.465>the <01:04:56.665>technical <01:04:56.865>standards <01:04:57.065>committee

1342
01:04:58.425 --> 01:05:01.325
<01:04:58.425>to <01:04:58.565>evaluate <01:04:58.705>just <01:04:58.845>this <01:04:58.985>exact <01:04:59.125>kind <01:04:59.265>of <01:04:59.405>topic <01:04:59.545>in <01:04:59.685>many <01:04:59.825>areas,

1343
01:05:01.475 --> 01:05:05.285
<01:05:01.475>what <01:05:01.650>standards, <01:05:01.825>um, <01:05:02.000>can <01:05:02.174>be <01:05:02.350>recommended <01:05:02.525>so <01:05:02.700>that <01:05:02.875>developers

1344
01:05:05.505 --> 01:05:08.565
<01:05:05.505>and <01:05:05.680>businesses <01:05:05.855>who <01:05:06.030>are <01:05:06.205>creating <01:05:06.380>applications <01:05:06.555>in <01:05:06.730>the <01:05:06.905>Bitcoin

1345
01:05:08.805 --> 01:05:13.285
<01:05:08.805>SV <01:05:08.980>world, <01:05:09.154>um, <01:05:09.330>can <01:05:09.504>create <01:05:09.680>things <01:05:09.855>that <01:05:10.029>communicate, <01:05:10.205>interact,

1346
01:05:13.385 --> 01:05:14.685
<01:05:13.385>and <01:05:13.677>interate <01:05:13.970>with <01:05:14.262>each <01:05:14.555>other.

1347
01:05:14.785 --> 01:05:15.805
<01:05:14.785>We <01:05:15.014>think <01:05:15.243>that's <01:05:15.473>really <01:05:15.703>vital.

1348
01:05:15.995 --> 01:05:17.605
<01:05:15.995>It's <01:05:16.194>one <01:05:16.395>of <01:05:16.595>the <01:05:16.795>things <01:05:16.995>we're <01:05:17.194>de <01:05:17.395>doing

1349
01:05:17.625 --> 01:05:19.605
<01:05:17.625>to <01:05:17.905>lead <01:05:18.185>the <01:05:18.465>initialization <01:05:18.745>of <01:05:19.025>Bitcoin.

1350
01:05:22.815 --> 01:05:24.605
<01:05:22.815>Where <01:05:22.970>would <01:05:23.126>be <01:05:23.281>the <01:05:23.437>best <01:05:23.592>place <01:05:23.748>if <01:05:23.903>I <01:05:24.059>could <01:05:24.215>talk

1351
01:05:24.605 --> 01:05:26.805
<01:05:24.605>to <01:05:24.805>others <01:05:25.005>about <01:05:25.205>up, <01:05:25.405>coming <01:05:25.605>up <01:05:25.805>with <01:05:26.005>ideas

1352
01:05:26.905 --> 01:05:30.005
<01:05:26.904>for <01:05:27.371>the <01:05:27.838>hackathon? <01:05:28.305>Steve?

1353
01:05:30.275 --> 01:05:32.365
<01:05:30.275>There's <01:05:30.475>a <01:05:30.675>lot <01:05:30.875>of <01:05:31.075>different <01:05:31.275>forums <01:05:31.475>where, <01:05:31.675>um,

1354
01:05:32.415 --> 01:05:34.605
<01:05:32.415>where <01:05:32.765>application <01:05:33.115>developers <01:05:33.465>hang <01:05:33.815>out.

1355
01:05:34.745 --> 01:05:37.405
<01:05:34.745>Um, <01:05:34.900>of <01:05:35.056>course <01:05:35.211>the <01:05:35.367>hackathon <01:05:35.522>itself <01:05:35.678>has <01:05:35.833>its <01:05:35.989>own <01:05:36.145>discord

1356
01:05:37.405 --> 01:05:39.925
<01:05:37.404>channels <01:05:37.580>where <01:05:37.754>you <01:05:37.930>can, <01:05:38.104>um, <01:05:38.279>you <01:05:38.455>can <01:05:38.629>probably, <01:05:38.805>uh,

1357
01:05:39.925 --> 01:05:41.165
<01:05:39.925>reach <01:05:40.204>out <01:05:40.483>to <01:05:40.762>other <01:05:41.041>devs.

1358
01:05:41.665 --> 01:05:45.885
<01:05:41.665>Um, <01:05:41.792>and <01:05:41.919>I <01:05:42.046>think <01:05:42.174>that <01:05:42.301>the, <01:05:42.428>um, <01:05:42.555>the <01:05:42.683>platform <01:05:42.810>itself, <01:05:42.937>uh, <01:05:43.065>um,

1359
01:05:46.385 --> 01:05:48.765
<01:05:46.385>has <01:05:46.585>facilities <01:05:46.785>to <01:05:46.985>help <01:05:47.185>you <01:05:47.385>with <01:05:47.585>finding <01:05:47.785>teams,

1360
01:05:48.865 --> 01:05:50.525
<01:05:48.865>but <01:05:49.145>outside <01:05:49.424>of <01:05:49.705>that, <01:05:49.984>there's <01:05:50.265>uh,

1361
01:05:50.525 --> 01:05:51.805
<01:05:50.525>there's <01:05:50.813>a <01:05:51.101>few <01:05:51.389>telegram <01:05:51.676>groups.

1362
01:05:51.875 --> 01:05:56.205
<01:05:51.875>There's, <01:05:52.015>um, <01:05:52.155>um, <01:05:52.295>the <01:05:52.435>Atlan <01:05:52.575>Slack <01:05:52.715>that's <01:05:52.855>run <01:05:52.995>by <01:05:53.135>UN <01:05:53.275>Rider,

1363
01:05:56.215 --> 01:05:59.125
<01:05:56.215>which <01:05:56.390>is <01:05:56.565>a, <01:05:56.740>a <01:05:56.915>common <01:05:57.090>hangout <01:05:57.265>for, <01:05:57.440>for <01:05:57.615>developers.

1364
01:05:59.825 --> 01:06:04.765
<01:05:59.825>Um, <01:05:59.932>um, <01:06:00.040>I <01:06:00.148>mean, <01:06:00.255>I <01:06:00.363>don't <01:06:00.471>have <01:06:00.578>a <01:06:00.686>huge <01:06:00.794>amount <01:06:00.901>of <01:06:01.009>time <01:06:01.117>to <01:06:01.225>sort

1365
01:06:04.765 --> 01:06:07.325
<01:06:04.765>of <01:06:04.920>hang <01:06:05.076>around <01:06:05.231>in <01:06:05.387>all <01:06:05.542>of <01:06:05.698>these, <01:06:05.853>these <01:06:06.009>various <01:06:06.165>places,

1366
01:06:07.385 --> 01:06:09.805
<01:06:07.385>so <01:06:07.501>there <01:06:07.618>may <01:06:07.735>be, <01:06:07.851>may <01:06:07.968>well <01:06:08.085>be <01:06:08.201>others <01:06:08.318>that <01:06:08.435>I, <01:06:08.551>I <01:06:08.668>dunno <01:06:08.785>about.

1367
01:06:09.865 --> 01:06:12.885
<01:06:09.865>But, <01:06:10.020>um, <01:06:10.176>uh, <01:06:10.331>here <01:06:10.487>is <01:06:10.642>a <01:06:10.798>good <01:06:10.953>place <01:06:11.109>to <01:06:11.265>start.

1368
01:06:13.055 --> 01:06:15.645
<01:06:13.055>We'll <01:06:13.182>go <01:06:13.309>to <01:06:13.436>any <01:06:13.564>one <01:06:13.691>of <01:06:13.818>those <01:06:13.945>and, <01:06:14.073>and <01:06:14.200>ask <01:06:14.327>other <01:06:14.455>people.

1369
01:06:15.985 --> 01:06:18.485
<01:06:15.985>Um, <01:06:16.218>generally <01:06:16.451>people <01:06:16.685>are <01:06:16.918>pretty <01:06:17.151>friendly <01:06:17.385>and,

1370
01:06:18.585 --> 01:06:20.565
<01:06:18.585>and, <01:06:18.865>uh, <01:06:19.145>willing <01:06:19.425>to, <01:06:19.705>uh, <01:06:19.985>willing

1371
01:06:20.565 --> 01:06:22.005
<01:06:20.565>to <01:06:20.781>help <01:06:20.997>new <01:06:21.213>people <01:06:21.429>get <01:06:21.645>on <01:06:21.861>board.

1372
01:06:22.185 --> 01:06:23.185
So,

1373
01:06:27.065 --> 01:06:30.005
<01:06:27.065>Thomas <01:06:27.220>asked, <01:06:27.376>do <01:06:27.531>you <01:06:27.687>always <01:06:27.842>have <01:06:27.998>to <01:06:28.153>compare <01:06:28.309>hash <01:06:28.465>outputs

1374
01:06:30.005 --> 01:06:33.325
<01:06:30.005>to <01:06:30.160>create <01:06:30.316>a <01:06:30.471>locking <01:06:30.627>script <01:06:30.782>base <01:06:30.938>on <01:06:31.093>op <01:06:31.249>push <01:06:31.405>tx,

1375
01:06:33.505 --> 01:06:35.805
<01:06:33.505>or <01:06:33.660>is <01:06:33.816>it <01:06:33.971>possible <01:06:34.127>to <01:06:34.282>unlock <01:06:34.438>without <01:06:34.593>knowing <01:06:34.749>in <01:06:34.905>advance

1376
01:06:35.805 --> 01:06:38.165
<01:06:35.805>exactly <01:06:36.038>what <01:06:36.271>the <01:06:36.504>output <01:06:36.738>will <01:06:36.971>look <01:06:37.205>like?

1377
01:06:40.765 --> 01:06:41.845
<01:06:40.765>I <01:06:41.089>spotted <01:06:41.413>this <01:06:41.737>question

1378
01:06:41.945 --> 01:06:45.005
<01:06:41.945>and <01:06:42.072>um, <01:06:42.199>I'm <01:06:42.326>still <01:06:42.454>trying <01:06:42.581>to <01:06:42.708>work <01:06:42.835>out, <01:06:42.963>I <01:06:43.090>mean, <01:06:43.217>I <01:06:43.345>know

1379
01:06:45.005 --> 01:06:46.805
<01:06:45.005>that <01:06:45.238>you're <01:06:45.471>talking <01:06:45.705>about <01:06:45.938>op <01:06:46.171>push, <01:06:46.405>TX

1380
01:06:47.265 --> 01:06:51.965
<01:06:47.265>and, <01:06:47.404>um, <01:06:47.545>hash <01:06:47.685>outputs <01:06:47.825>as <01:06:47.964>a <01:06:48.105>part <01:06:48.245>of <01:06:48.384>the <01:06:48.525>CH <01:06:48.665>algorithm.

1381
01:06:52.065 --> 01:06:54.365
<01:06:52.065>So <01:06:52.265>this <01:06:52.465>is <01:06:52.665>a <01:06:52.865>very, <01:06:53.065>very <01:06:53.265>technical <01:06:53.465>question,

1382
01:06:54.505 --> 01:06:58.685
<01:06:54.505>but, <01:06:54.785>um, <01:06:55.065>I'm <01:06:55.345>not <01:06:55.625>quite <01:06:55.905>sure

1383
01:06:58.835 --> 01:07:00.645
<01:06:58.835>what <01:06:59.115>the <01:06:59.395>specific <01:06:59.675>use <01:06:59.955>case <01:07:00.235>is

1384
01:07:00.645 --> 01:07:02.205
<01:07:00.645>that <01:07:00.878>you <01:07:01.111>are, <01:07:01.345>you <01:07:01.578>are <01:07:01.811>thinking <01:07:02.045>of.

1385
01:07:02.665 --> 01:07:05.605
<01:07:02.665>Um, <01:07:02.840>I'll <01:07:03.015>push <01:07:03.190>TX <01:07:03.365>is, <01:07:03.540>uh, <01:07:03.715>is <01:07:03.890>a <01:07:04.065>technique

1386
01:07:05.605 --> 01:07:06.925
<01:07:05.605>that's <01:07:05.842>quite <01:07:06.080>close <01:07:06.317>to <01:07:06.555>my <01:07:06.793>heart.

1387
01:07:07.205 --> 01:07:09.285
<01:07:07.205>'cause <01:07:07.404>I've <01:07:07.605>been, <01:07:07.805>um, <01:07:08.005>I <01:07:08.205>forgive <01:07:08.404>the <01:07:08.605>pun,

1388
01:07:09.345 --> 01:07:10.885
<01:07:09.345>but <01:07:09.576>I've <01:07:09.807>been <01:07:10.038>not <01:07:10.269>pushing <01:07:10.500>it <01:07:10.731>for,

1389
01:07:10.985 --> 01:07:12.445
<01:07:10.985>um, <01:07:11.247>for <01:07:11.510>the <01:07:11.773>last <01:07:12.036>few <01:07:12.299>years.

1390
01:07:12.505 --> 01:07:15.485
<01:07:12.505>And <01:07:12.612>it <01:07:12.720>took <01:07:12.828>a <01:07:12.935>while <01:07:13.043>for <01:07:13.151>someone <01:07:13.258>to, <01:07:13.366>uh, <01:07:13.474>to, <01:07:13.581>to <01:07:13.689>grab <01:07:13.797>onto <01:07:13.905>it

1391
01:07:15.485 --> 01:07:16.965
<01:07:15.485>and <01:07:15.751>actually <01:07:16.017>try <01:07:16.284>to <01:07:16.550>implement <01:07:16.817>it.

1392
01:07:17.705 --> 01:07:21.085
<01:07:17.705>Um, <01:07:17.860>so <01:07:18.016>I <01:07:18.171>might <01:07:18.327>take <01:07:18.482>that <01:07:18.638>question <01:07:18.793>on <01:07:18.949>notice <01:07:19.105>so

1393
01:07:21.085 --> 01:07:23.365
<01:07:21.085>that <01:07:21.225>I <01:07:21.365>can <01:07:21.505>actually <01:07:21.645>give <01:07:21.785>you <01:07:21.925>a <01:07:22.065>sensible <01:07:22.205>answer <01:07:22.345>rather <01:07:22.485>than

1394
01:07:23.405 --> 01:07:26.125
<01:07:23.404>a, <01:07:23.580>um, <01:07:23.754>uh, <01:07:23.930>than <01:07:24.104>trying <01:07:24.279>to <01:07:24.455>guess <01:07:24.629>what <01:07:24.805>you,

1395
01:07:26.435 --> 01:07:28.885
<01:07:26.435>what <01:07:26.590>the <01:07:26.746>question <01:07:26.901>means <01:07:27.057>and, <01:07:27.212>uh, <01:07:27.368>and <01:07:27.523>getting <01:07:27.679>it <01:07:27.835>wrong.

1396
01:07:31.665 --> 01:07:33.805
<01:07:31.665>Oh, <01:07:31.945>wow. <01:07:32.225>Henry, <01:07:32.505>what <01:07:32.785>a <01:07:33.065>question.

1397
01:07:33.945 --> 01:07:37.365
<01:07:33.945>How <01:07:34.120>long <01:07:34.295>shatters <01:07:34.470>until <01:07:34.645>BSB <01:07:34.820>transactions <01:07:34.995>per <01:07:35.170>second <01:07:35.345>rivals

1398
01:07:37.365 --> 01:07:38.965
<01:07:37.365>that <01:07:37.714>of <01:07:38.064>MasterCard <01:07:38.415>and <01:07:38.765>Visa?

1399
01:07:39.575 --> 01:07:41.445
<01:07:39.575>Steve, <01:07:39.855>give <01:07:40.134>us <01:07:40.415>a <01:07:40.694>definite <01:07:40.975>time.

1400
01:07:43.075 --> 01:07:45.045
<01:07:43.075>Well, <01:07:43.308>I <01:07:43.541>mean, <01:07:43.774>in <01:07:44.008>terms <01:07:44.241>of <01:07:44.475>capacity,

1401
01:07:45.045 --> 01:07:46.165
<01:07:45.045>we're, <01:07:45.381>we're <01:07:45.717>pretty <01:07:46.053>close.

1402
01:07:46.585 --> 01:07:50.405
<01:07:46.585>Um, <01:07:46.740>the, <01:07:46.896>the <01:07:47.051>long-term <01:07:47.207>average <01:07:47.362>number <01:07:47.518>that <01:07:47.673>has <01:07:47.829>been <01:07:47.985>cited

1403
01:07:50.425 --> 01:07:52.605
<01:07:50.425>for <01:07:50.625>the <01:07:50.825>whole <01:07:51.025>lifetime <01:07:51.225>of <01:07:51.425>Bitcoin <01:07:51.625>is <01:07:51.825>1700

1404
01:07:52.605 --> 01:07:53.765
<01:07:52.605>transactions <01:07:53.127>per <01:07:53.649>second.

1405
01:07:54.065 --> 01:07:57.525
<01:07:54.065>And, <01:07:54.205>um, <01:07:54.345>we <01:07:54.485>know <01:07:54.625>that <01:07:54.765>in, <01:07:54.905>um, <01:07:55.045>in, <01:07:55.185>in <01:07:55.325>short <01:07:55.465>bursts

1406
01:07:57.525 --> 01:07:59.285
<01:07:57.525>of <01:07:57.758>a <01:07:57.991>few <01:07:58.225>hours, <01:07:58.458>uh, <01:07:58.691>that <01:07:58.925>the,

1407
01:07:59.425 --> 01:08:03.085
<01:07:59.425>the <01:07:59.565>SV <01:07:59.705>network <01:07:59.845>is <01:07:59.985>already <01:08:00.125>capable <01:08:00.265>of, <01:08:00.405>of <01:08:00.545>handling <01:08:00.685>that, <01:08:00.825>uh,

1408
01:08:03.085 --> 01:08:05.405
<01:08:03.085>their <01:08:03.260>peak <01:08:03.435>capacity <01:08:03.610>is, <01:08:03.785>is <01:08:03.960>quite <01:08:04.135>a <01:08:04.310>bit <01:08:04.485>bigger.

1409
01:08:05.465 --> 01:08:07.525
<01:08:05.465>But <01:08:05.745>that's, <01:08:06.025>uh, <01:08:06.305>that's <01:08:06.585>about <01:08:06.865>50,000

1410
01:08:07.785 --> 01:08:09.805
<01:08:07.785>that's <01:08:08.018>probably <01:08:08.251>gonna <01:08:08.484>take, <01:08:08.718>um, <01:08:08.951>a <01:08:09.185>leap

1411
01:08:09.805 --> 01:08:12.725
<01:08:09.805>beyond <01:08:09.960>the <01:08:10.116>Bitcoin <01:08:10.271>SV <01:08:10.427>node <01:08:10.582>software <01:08:10.738>and <01:08:10.893>into <01:08:11.049>terra <01:08:11.205>node.

1412
01:08:12.985 --> 01:08:16.685
<01:08:12.985>Um, <01:08:13.112>their <01:08:13.239>Bitcoin <01:08:13.366>SV <01:08:13.494>May, <01:08:13.621>may, <01:08:13.748>may <01:08:13.875>be <01:08:14.003>able <01:08:14.130>to <01:08:14.257>achieve <01:08:14.385>that,

1413
01:08:16.745 --> 01:08:18.765
<01:08:16.745>but <01:08:17.024>we're, <01:08:17.305>we're <01:08:17.585>sort <01:08:17.865>of <01:08:18.144>unsure.

1414
01:08:19.265 --> 01:08:21.645
<01:08:19.265>Um, <01:08:19.465>but <01:08:19.665>I'm <01:08:19.865>personally <01:08:20.065>working <01:08:20.265>on <01:08:20.465>teade <01:08:20.665>proof

1415
01:08:21.645 --> 01:08:22.965
<01:08:21.645>of <01:08:22.239>prototyping <01:08:22.833>myself.

1416
01:08:23.145 --> 01:08:27.085
<01:08:23.145>Um, <01:08:23.261>it's <01:08:23.378>one <01:08:23.495>of <01:08:23.611>the, <01:08:23.728>the <01:08:23.845>few <01:08:23.961>projects <01:08:24.078>that, <01:08:24.195>um, <01:08:24.311>that <01:08:24.428>I, <01:08:24.545>I,

1417
01:08:27.245 --> 01:08:30.285
<01:08:27.245>I <01:08:27.372>dust <01:08:27.499>off <01:08:27.626>the <01:08:27.754>old, <01:08:27.881>uh, <01:08:28.008>old <01:08:28.135>keyboard <01:08:28.263>and, <01:08:28.390>and, <01:08:28.517>and <01:08:28.644>getting

1418
01:08:30.345 --> 01:08:31.765
<01:08:30.345>and <01:08:30.771>code, <01:08:31.197>uh, <01:08:31.623>myself,

1419
01:08:31.945 --> 01:08:34.245
<01:08:31.944>but <01:08:32.072>I <01:08:32.199>generally <01:08:32.326>don't <01:08:32.454>have <01:08:32.581>a <01:08:32.708>lot <01:08:32.835>of <01:08:32.963>time <01:08:33.090>for, <01:08:33.217>for <01:08:33.344>coding

1420
01:08:34.485 --> 01:08:37.165
<01:08:34.484>'cause <01:08:34.660>I'm <01:08:34.835>too <01:08:35.009>busy <01:08:35.184>organizing <01:08:35.359>things <01:08:35.535>at <01:08:35.710>M <01:08:35.884>Chain.

1421
01:08:37.225 --> 01:08:40.085
<01:08:37.225>But, <01:08:37.380>um, <01:08:37.536>uh, <01:08:37.691>we're <01:08:37.847>making <01:08:38.002>really <01:08:38.158>good <01:08:38.313>progress <01:08:38.469>with <01:08:38.625>that.

1422
01:08:40.265 --> 01:08:42.725
<01:08:40.265>And, <01:08:40.545>um, <01:08:40.825>uh, <01:08:41.105>I'm <01:08:41.385>looking <01:08:41.665>forward

1423
01:08:42.725 --> 01:08:45.285
<01:08:42.725>to <01:08:42.958>doing <01:08:43.191>some <01:08:43.425>demonstrations, <01:08:43.658>uh, <01:08:43.891>of <01:08:44.125>it.

1424
01:08:45.385 --> 01:08:46.805
<01:08:45.385>So <01:08:45.567>as <01:08:45.750>soon <01:08:45.932>as <01:08:46.115>soon <01:08:46.297>as <01:08:46.480>I <01:08:46.663>can,

1425
01:08:47.145 --> 01:08:49.285
<01:08:47.145>I'm <01:08:47.285>gonna <01:08:47.425>get <01:08:47.565>myself <01:08:47.705>into <01:08:47.845>trouble <01:08:47.985>if <01:08:48.125>I <01:08:48.265>name <01:08:48.405>any <01:08:48.545>kind

1426
01:08:49.285 --> 01:08:53.485
<01:08:49.285>of <01:08:49.392>a <01:08:49.500>date, <01:08:49.608>um, <01:08:49.715>uh, <01:08:49.823>'cause <01:08:49.931>uh, <01:08:50.038>of <01:08:50.146>course <01:08:50.254>I'll <01:08:50.361>get <01:08:50.469>held <01:08:50.577>to <01:08:50.684>it,

1427
01:08:53.485 --> 01:08:55.925
<01:08:53.484>but <01:08:53.640>I <01:08:53.796>would <01:08:53.951>like <01:08:54.107>to <01:08:54.262>be <01:08:54.418>demonstrating <01:08:54.573>it, <01:08:54.729>uh, <01:08:54.884>before,

1428
01:08:55.925 --> 01:08:56.965
<01:08:55.925>before <01:08:56.112>the <01:08:56.299>end <01:08:56.486>of <01:08:56.673>this <01:08:56.861>year.

1429
01:08:57.905 --> 01:09:01.805
<01:08:57.904>And <01:08:58.045>for <01:08:58.184>audience <01:08:58.325>members <01:08:58.465>who <01:08:58.604>don't <01:08:58.745>know <01:08:58.884>what <01:08:59.024>Tera <01:08:59.165>Node <01:08:59.304>is,

1430
01:09:02.065 --> 01:09:04.605
<01:09:02.065>it <01:09:02.345>is <01:09:02.625>an <01:09:02.905>enterprise <01:09:03.185>class <01:09:03.465>version

1431
01:09:04.705 --> 01:09:08.405
<01:09:04.705>of <01:09:04.845>the <01:09:04.984>Bitcoin <01:09:05.125>SV <01:09:05.265>node <01:09:05.404>software <01:09:05.545>that <01:09:05.684>is <01:09:05.825>designed <01:09:05.965>to <01:09:06.104>support,

1432
01:09:08.745 --> 01:09:12.285
<01:09:08.745>as <01:09:08.920>the <01:09:09.095>name <01:09:09.269>suggests, <01:09:09.444>terabyte <01:09:09.620>size <01:09:09.795>blocks, <01:09:09.970>you <01:09:10.144>know,

1433
01:09:12.285 --> 01:09:15.805
<01:09:12.285>a <01:09:12.460>million <01:09:12.635>megabytes <01:09:12.809>plus <01:09:12.984>for <01:09:13.160>massive, <01:09:13.335>massive <01:09:13.510>scale, <01:09:13.684>Steve

1434
01:09:15.945 --> 01:09:19.085
<01:09:15.944>and <01:09:16.144>team <01:09:16.344>leading <01:09:16.545>effort <01:09:16.745>essentially <01:09:16.944>to <01:09:17.144>reconstruct <01:09:17.344>the,

1435
01:09:19.385 --> 01:09:22.125
<01:09:19.385>the <01:09:19.540>Bitcoin <01:09:19.696>node <01:09:19.851>software <01:09:20.007>from <01:09:20.162>the <01:09:20.318>ground <01:09:20.473>up <01:09:20.629>using <01:09:20.785>a

1436
01:09:22.125 --> 01:09:24.565
<01:09:22.125>microservices <01:09:22.591>architectural <01:09:23.058>approach, <01:09:23.524>um,

1437
01:09:24.625 --> 01:09:26.445
<01:09:24.625>to <01:09:24.975>create <01:09:25.325>far <01:09:25.675>more <01:09:26.024>efficiencies.

1438
01:09:26.625 --> 01:09:28.285
<01:09:26.625>So <01:09:26.858>look <01:09:27.091>for <01:09:27.325>more <01:09:27.558>information <01:09:27.791>about <01:09:28.024>that

1439
01:09:28.945 --> 01:09:30.085
<01:09:28.944>coming <01:09:29.201>in <01:09:29.457>the <01:09:29.714>near <01:09:29.970>future.

1440
01:09:32.755 --> 01:09:35.165
<01:09:32.755>When <01:09:32.955>will <01:09:33.154>the <01:09:33.355>courses <01:09:33.555>for <01:09:33.755>Bitcoin <01:09:33.955>engineers <01:09:34.154>start?

1441
01:09:35.545 --> 01:09:39.045
<01:09:35.545>Um, <01:09:35.700>I <01:09:35.856>don't <01:09:36.011>have <01:09:36.167>an <01:09:36.322>exact <01:09:36.478>date <01:09:36.633>and <01:09:36.789>the, <01:09:36.944>uh,

1442
01:09:39.185 --> 01:09:42.405
<01:09:39.184>but, <01:09:39.325>uh, <01:09:39.464>I <01:09:39.604>know <01:09:39.745>we're <01:09:39.884>hoping <01:09:40.024>to <01:09:40.164>launch, <01:09:40.304>um, <01:09:40.444>our <01:09:40.584>partnership

1443
01:09:42.405 --> 01:09:44.765
<01:09:42.404>with, <01:09:42.638>uh, <01:09:42.871>a <01:09:43.104>tech <01:09:43.338>university <01:09:43.571>for <01:09:43.804>a,

1444
01:09:45.045 --> 01:09:48.405
<01:09:45.045>a <01:09:45.325>massive <01:09:45.605>online <01:09:45.885>open <01:09:46.165>course, <01:09:46.444>um,

1445
01:09:48.925 --> 01:09:52.525
<01:09:48.925>sometime <01:09:49.100>in <01:09:49.275>the <01:09:49.450>fall <01:09:49.625>of <01:09:49.800>this <01:09:49.975>year, <01:09:50.150>uh, <01:09:50.325>probably

1446
01:09:52.525 --> 01:09:53.605
<01:09:52.524>around <01:09:52.848>October <01:09:53.173>we're <01:09:53.496>hoping.

1447
01:09:53.985 --> 01:09:55.885
<01:09:53.984>And <01:09:54.335>then <01:09:54.684>our <01:09:55.035>Bitcoin <01:09:55.384>association,

1448
01:09:55.885 --> 01:09:57.805
<01:09:55.885>formal <01:09:56.351>online <01:09:56.818>education <01:09:57.285>curriculum.

1449
01:09:58.145 --> 01:10:00.365
<01:09:58.145>Uh, <01:09:58.261>we're <01:09:58.378>hoping <01:09:58.495>to <01:09:58.611>get <01:09:58.728>some <01:09:58.845>of <01:09:58.961>that <01:09:59.078>by <01:09:59.195>end <01:09:59.311>of <01:09:59.428>the <01:09:59.545>year.

1450
01:10:04.825 --> 01:10:08.085
<01:10:04.825>Do <01:10:05.000>you <01:10:05.175>have <01:10:05.349>a <01:10:05.525>timetable <01:10:05.700>for <01:10:05.875>changing <01:10:06.050>the <01:10:06.224>DAA,

1451
01:10:08.265 --> 01:10:09.965
<01:10:08.265>the <01:10:08.731>difficulty <01:10:09.198>adjustment <01:10:09.665>algorithm?

1452
01:10:10.225 --> 01:10:13.285
<01:10:10.225>Tim <01:10:10.458>Donovan? <01:10:10.691>Gosh, <01:10:10.925>all <01:10:11.158>these <01:10:11.391>probe <01:10:11.625>questions.

1453
01:10:13.695 --> 01:10:15.165
<01:10:13.695>Steve, <01:10:13.860>what <01:10:14.025>do <01:10:14.191>you <01:10:14.356>have <01:10:14.521>to <01:10:14.687>say <01:10:14.852>about <01:10:15.018>that?

1454
01:10:15.685 --> 01:10:16.965
<01:10:15.684>I, <01:10:15.849>I <01:10:16.014>get <01:10:16.178>asked <01:10:16.343>this <01:10:16.507>one <01:10:16.672>a <01:10:16.837>lot

1455
01:10:17.025 --> 01:10:20.205
<01:10:17.025>and, <01:10:17.180>um, <01:10:17.336>I, <01:10:17.491>I <01:10:17.647>honestly <01:10:17.802>scratch <01:10:17.958>my <01:10:18.113>head <01:10:18.269>sometimes <01:10:18.424>wondering

1456
01:10:20.265 --> 01:10:24.205
<01:10:20.265>why, <01:10:20.405>um, <01:10:20.545>why <01:10:20.685>people <01:10:20.825>are, <01:10:20.965>are, <01:10:21.105>um, <01:10:21.245>so <01:10:21.385>interested <01:10:21.525>in <01:10:21.665>it

1457
01:10:24.205 --> 01:10:26.565
<01:10:24.205>because <01:10:24.380>it <01:10:24.555>doesn't <01:10:24.730>really <01:10:24.905>impact <01:10:25.080>the <01:10:25.255>sort <01:10:25.430>of <01:10:25.605>day

1458
01:10:26.565 --> 01:10:28.365
<01:10:26.565>to <01:10:26.798>day <01:10:27.031>user <01:10:27.265>experience <01:10:27.498>all <01:10:27.731>that <01:10:27.965>much.

1459
01:10:28.505 --> 01:10:31.645
<01:10:28.505>Um, <01:10:28.632>the <01:10:28.759>one <01:10:28.886>thing <01:10:29.014>that <01:10:29.141>is <01:10:29.268>notable <01:10:29.395>about <01:10:29.523>Bitcoin <01:10:29.650>SV <01:10:29.777>is <01:10:29.905>it

1460
01:10:31.765 --> 01:10:33.565
<01:10:31.765>actually <01:10:31.920>really <01:10:32.076>doesn't <01:10:32.231>matter <01:10:32.387>if <01:10:32.542>we <01:10:32.698>go <01:10:32.853>for <01:10:33.009>an <01:10:33.165>hour

1461
01:10:33.565 --> 01:10:35.085
<01:10:33.565>or <01:10:33.793>even <01:10:34.021>two <01:10:34.249>hours <01:10:34.477>without <01:10:34.705>a <01:10:34.933>block

1462
01:10:35.085 --> 01:10:38.245
<01:10:35.085>because, <01:10:35.285>um, <01:10:35.485>when <01:10:35.685>one <01:10:35.885>eventually <01:10:36.085>gets <01:10:36.285>found, <01:10:36.485>uh,

1463
01:10:38.245 --> 01:10:41.245
<01:10:38.245>everything <01:10:38.385>just <01:10:38.525>gets <01:10:38.665>cleared <01:10:38.805>out <01:10:38.945>to <01:10:39.085>in, <01:10:39.224>in <01:10:39.365>one <01:10:39.505>one <01:10:39.644>hits.

1464
01:10:41.545 --> 01:10:42.725
<01:10:41.545>So, <01:10:42.607>um,

1465
01:10:43.625 --> 01:10:45.605
<01:10:43.625>but <01:10:43.825>the <01:10:44.025>answer <01:10:44.225>to <01:10:44.425>that <01:10:44.625>question <01:10:44.825>is, <01:10:45.025>it's,

1466
01:10:45.605 --> 01:10:47.365
<01:10:45.605>it's <01:10:45.955>dependent <01:10:46.304>on <01:10:46.655>transaction <01:10:47.004>volume.

1467
01:10:47.785 --> 01:10:52.365
<01:10:47.785>Um, <01:10:47.985>because <01:10:48.184>the <01:10:48.385>old <01:10:48.585>2016 <01:10:48.785>block <01:10:48.985>difficulty <01:10:49.184>adjustment

1468
01:10:52.365 --> 01:10:54.845
<01:10:52.365>algorithm, <01:10:52.715>uh, <01:10:53.065>creates <01:10:53.415>a <01:10:53.764>vulnerability

1469
01:10:54.945 --> 01:10:56.725
<01:10:54.945>for <01:10:55.178>a <01:10:55.411>low <01:10:55.644>hash <01:10:55.878>rate <01:10:56.111>chain, <01:10:56.344>um,

1470
01:10:56.815 --> 01:10:58.325
<01:10:56.815>which <01:10:57.086>we <01:10:57.358>call <01:10:57.630>chain <01:10:57.902>death <01:10:58.174>attack.

1471
01:10:58.545 --> 01:11:01.245
<01:10:58.545>Um, <01:10:58.745>whereby <01:10:58.945>someone <01:10:59.145>comes <01:10:59.345>in <01:10:59.545>with <01:10:59.745>large <01:10:59.945>amounts

1472
01:11:01.245 --> 01:11:03.605
<01:11:01.245>of <01:11:01.478>hash <01:11:01.711>rate <01:11:01.945>from <01:11:02.178>somewhere <01:11:02.411>else, <01:11:02.644>uh,

1473
01:11:03.605 --> 01:11:06.445
<01:11:03.605>pushes <01:11:03.745>the <01:11:03.884>difficulty <01:11:04.025>way, <01:11:04.165>way, <01:11:04.304>way <01:11:04.445>up, <01:11:04.584>and <01:11:04.724>then <01:11:04.865>goes <01:11:05.004>away.

1474
01:11:06.545 --> 01:11:09.645
<01:11:06.545>And <01:11:06.685>if <01:11:06.825>you're <01:11:06.965>in <01:11:07.105>a <01:11:07.245>situation <01:11:07.385>where <01:11:07.525>it <01:11:07.665>takes <01:11:07.805>24 <01:11:07.945>hours

1475
01:11:09.825 --> 01:11:12.685
<01:11:09.825>to <01:11:10.058>find <01:11:10.291>a <01:11:10.525>block, <01:11:10.758>um, <01:11:10.991>well, <01:11:11.224>uh,

1476
01:11:12.755 --> 01:11:15.565
<01:11:12.755>that <01:11:12.930>two <01:11:13.105>week <01:11:13.280>period <01:11:13.455>is <01:11:13.630>actually <01:11:13.805>measured <01:11:13.980>in <01:11:14.155>blocks,

1477
01:11:15.665 --> 01:11:18.725
<01:11:15.665>so <01:11:15.898>it <01:11:16.131>becomes <01:11:16.365>2016 <01:11:16.598>times <01:11:16.831>24 <01:11:17.065>hours.

1478
01:11:19.105 --> 01:11:21.645
<01:11:19.105>Um, <01:11:19.260>and <01:11:19.416>that's <01:11:19.571>not <01:11:19.727>an <01:11:19.882>ideal <01:11:20.038>situation <01:11:20.193>to <01:11:20.349>be <01:11:20.504>in,

1479
01:11:21.865 --> 01:11:23.325
<01:11:21.865>but <01:11:22.127>when <01:11:22.390>you've <01:11:22.653>got <01:11:22.916>large <01:11:23.179>amounts

1480
01:11:23.325 --> 01:11:25.045
<01:11:23.325>of <01:11:23.675>transaction <01:11:24.025>volume <01:11:24.375>coming <01:11:24.724>in

1481
01:11:25.045 --> 01:11:27.445
<01:11:25.045>and <01:11:25.245>fee <01:11:25.445>revenue, <01:11:25.645>it <01:11:25.845>changes <01:11:26.045>that <01:11:26.245>dynamic <01:11:26.445>completely.

1482
01:11:27.665 --> 01:11:31.165
<01:11:27.665>So, <01:11:27.820>um, <01:11:27.976>we've <01:11:28.131>been <01:11:28.287>doing <01:11:28.442>some <01:11:28.598>studies, <01:11:28.753>uh, <01:11:28.909>internally <01:11:29.065>on

1483
01:11:31.365 --> 01:11:34.045
<01:11:31.365>what <01:11:31.565>different <01:11:31.764>levels <01:11:31.965>could <01:11:32.165>have <01:11:32.365>create <01:11:32.565>what <01:11:32.764>sorts

1484
01:11:34.045 --> 01:11:37.165
<01:11:34.045>of <01:11:34.172>scenarios <01:11:34.299>in, <01:11:34.426>in <01:11:34.554>terms <01:11:34.681>of <01:11:34.808>if <01:11:34.935>someone <01:11:35.063>tried <01:11:35.190>to <01:11:35.317>pull <01:11:35.445>off

1485
01:11:37.165 --> 01:11:40.885
<01:11:37.165>that, <01:11:37.305>that, <01:11:37.445>that <01:11:37.585>sort <01:11:37.725>of, <01:11:37.865>um, <01:11:38.005>uh, <01:11:38.144>attack <01:11:38.285>just <01:11:38.425>to <01:11:38.565>determine

1486
01:11:40.885 --> 01:11:42.965
<01:11:40.885>where <01:11:41.060>the, <01:11:41.235>where <01:11:41.410>the <01:11:41.585>kind <01:11:41.760>of <01:11:41.935>safe <01:11:42.110>level <01:11:42.285>is.

1487
01:11:43.185 --> 01:11:45.565
<01:11:43.184>And, <01:11:43.384>um, <01:11:43.584>I've <01:11:43.785>got <01:11:43.985>some <01:11:44.184>answers <01:11:44.384>on <01:11:44.584>that.

1488
01:11:45.825 --> 01:11:49.805
<01:11:45.825>Um, <01:11:46.058>I'm, <01:11:46.291>there <01:11:46.525>are <01:11:46.758>security <01:11:46.991>concerns, <01:11:47.224>uh,

1489
01:11:49.805 --> 01:11:51.765
<01:11:49.805>which <01:11:49.980>is <01:11:50.155>why <01:11:50.330>I'm <01:11:50.505>not <01:11:50.680>just <01:11:50.855>blurting <01:11:51.030>everything <01:11:51.205>out

1490
01:11:51.765 --> 01:11:52.965
<01:11:51.765>that <01:11:51.945>I <01:11:52.125>know <01:11:52.305>about <01:11:52.485>it <01:11:52.665>right <01:11:52.845>now.

1491
01:11:53.045 --> 01:11:56.565
<01:11:53.045>I <01:11:53.200>wanna <01:11:53.356>think <01:11:53.511>carefully <01:11:53.667>about, <01:11:53.822>uh, <01:11:53.978>about, <01:11:54.133>um, <01:11:54.289>uh, <01:11:54.445>how

1492
01:11:56.565 --> 01:11:58.965
<01:11:56.565>to <01:11:56.720>approach <01:11:56.876>this <01:11:57.031>from <01:11:57.187>a, <01:11:57.342>from <01:11:57.498>a <01:11:57.653>public <01:11:57.809>discussion <01:11:57.965>point

1493
01:11:58.965 --> 01:12:00.845
<01:11:58.965>of <01:11:59.165>view, <01:11:59.365>because <01:11:59.565>it <01:11:59.765>does <01:11:59.965>need <01:12:00.165>public <01:12:00.365>discussion.

1494
01:12:01.585 --> 01:12:03.525
<01:12:01.585>Um, <01:12:01.935>but <01:12:02.285>I <01:12:02.635>think, <01:12:02.985>uh,

1495
01:12:03.525 --> 01:12:05.885
<01:12:03.525>the <01:12:03.665>short <01:12:03.804>answer <01:12:03.945>is <01:12:04.085>it's <01:12:04.224>definitely <01:12:04.365>not <01:12:04.504>gonna <01:12:04.644>be <01:12:04.785>this <01:12:04.924>year.

1496
01:12:06.305 --> 01:12:10.165
<01:12:06.305>Um, <01:12:06.432>uh, <01:12:06.559>my <01:12:06.686>guess <01:12:06.814>would <01:12:06.941>be <01:12:07.068>it <01:12:07.195>would <01:12:07.323>be <01:12:07.450>probably <01:12:07.577>mid, <01:12:07.705>uh,

1497
01:12:10.645 --> 01:12:13.445
<01:12:10.645>sometime <01:12:10.820>probably <01:12:10.995>not <01:12:11.170>before <01:12:11.345>middle <01:12:11.520>of, <01:12:11.695>uh, <01:12:11.870>next <01:12:12.045>year.

1498
01:12:14.025 --> 01:12:16.125
<01:12:14.025>Um, <01:12:14.304>and, <01:12:14.585>um, <01:12:14.865>maybe, <01:12:15.144>you <01:12:15.424>know,

1499
01:12:16.125 --> 01:12:17.805
<01:12:16.125>towards <01:12:16.325>the <01:12:16.525>end <01:12:16.725>of, <01:12:16.925>end <01:12:17.125>of <01:12:17.325>that <01:12:17.525>year.

1500
01:12:18.705 --> 01:12:21.405
<01:12:18.705>Um, <01:12:18.821>but <01:12:18.938>as <01:12:19.055>soon <01:12:19.171>as <01:12:19.288>we <01:12:19.405>actually <01:12:19.521>have <01:12:19.638>enough <01:12:19.755>data <01:12:19.871>to <01:12:19.988>be <01:12:20.105>able

1501
01:12:21.405 --> 01:12:23.925
<01:12:21.405>to <01:12:21.532>say, <01:12:21.659>yeah, <01:12:21.786>it's <01:12:21.914>the, <01:12:22.041>it's <01:12:22.168>the <01:12:22.295>right <01:12:22.423>time <01:12:22.550>to <01:12:22.677>do <01:12:22.804>it,

1502
01:12:23.925 --> 01:12:24.965
<01:12:23.925>or <01:12:24.159>at <01:12:24.393>least <01:12:24.627>plan <01:12:24.861>it

1503
01:12:24.965 --> 01:12:28.445
<01:12:24.965>and <01:12:25.120>start <01:12:25.276>setting <01:12:25.431>a <01:12:25.587>date, <01:12:25.742>then, <01:12:25.898>um, <01:12:26.053>um, <01:12:26.209>then <01:12:26.365>we'll,

1504
01:12:28.445 --> 01:12:29.965
<01:12:28.445>we'll <01:12:28.718>be <01:12:28.992>talking <01:12:29.265>about <01:12:29.539>it <01:12:29.813>publicly

1505
01:12:30.065 --> 01:12:33.525
<01:12:30.065>and, <01:12:30.220>um, <01:12:30.376>getting <01:12:30.531>as <01:12:30.687>much <01:12:30.842>public <01:12:30.998>feedback <01:12:31.153>as <01:12:31.309>as <01:12:31.465>possible.

1506
01:12:38.985 --> 01:12:43.445
<01:12:38.985>We <01:12:39.112>are <01:12:39.239>like <01:12:39.366>coming <01:12:39.494>to <01:12:39.621>the <01:12:39.748>end <01:12:39.875>of <01:12:40.003>this <01:12:40.130>time <01:12:40.257>box. <01:12:40.384>Mm-hmm.

1507
01:12:43.705 --> 01:12:48.085
<01:12:43.705>Um, <01:12:43.985>we <01:12:44.265>answer <01:12:44.545>a <01:12:44.825>last <01:12:45.105>question.

1508
01:12:48.995 --> 01:12:50.645
<01:12:48.995>Sure. <01:12:49.228>One <01:12:49.461>last <01:12:49.695>question <01:12:49.928>would <01:12:50.161>be <01:12:50.394>great.

1509
01:12:50.745 --> 01:12:52.965
<01:12:50.745>And <01:12:51.025>then, <01:12:51.305>Um, <01:12:51.585>everything <01:12:51.865>which <01:12:52.144>comes

1510
01:12:52.965 --> 01:12:56.885
<01:12:52.965>after <01:12:53.120>that <01:12:53.276>is <01:12:53.431>something <01:12:53.587>I <01:12:53.742>will, <01:12:53.898>uh, <01:12:54.053>forward <01:12:54.209>to <01:12:54.365>you

1511
01:12:56.945 --> 01:13:00.365
<01:12:56.945>and <01:12:57.100>see <01:12:57.256>that <01:12:57.411>we <01:12:57.567>get <01:12:57.722>the <01:12:57.878>answers <01:12:58.033>published <01:12:58.189>so <01:12:58.344>everybody

1512
01:13:00.905 --> 01:13:02.765
<01:13:00.905>can <01:13:01.605>see <01:13:02.304>that.

1513
01:13:03.705 --> 01:13:07.405
<01:13:03.705>So <01:13:03.860>in <01:13:04.016>the <01:13:04.171>last <01:13:04.327>question <01:13:04.482>is, <01:13:04.638>what <01:13:04.793>do <01:13:04.949>you <01:13:05.105>see

1514
01:13:07.425 --> 01:13:10.125
<01:13:07.425>as <01:13:07.600>the <01:13:07.775>next <01:13:07.950>steps <01:13:08.125>required <01:13:08.300>for <01:13:08.475>the <01:13:08.650>wider <01:13:08.825>use

1515
01:13:10.185 --> 01:13:11.445
<01:13:10.184>of <01:13:11.318>micropayments?

1516
01:13:13.645 --> 01:13:16.125
<01:13:13.645>Hmm. <01:13:13.925>Steve, <01:13:14.205>you <01:13:14.485>wanna <01:13:14.765>tackle <01:13:15.045>that?

1517
01:13:17.075 --> 01:13:21.845
<01:13:17.075>Sure. <01:13:17.202>Um, <01:13:17.329>so, <01:13:17.456>uh, <01:13:17.584>a <01:13:17.711>lot <01:13:17.838>of <01:13:17.965>the <01:13:18.093>building <01:13:18.220>blocks <01:13:18.347>are, <01:13:18.474>uh,

1518
01:13:21.985 --> 01:13:24.725
<01:13:21.985>are <01:13:22.218>either <01:13:22.451>coming, <01:13:22.684>are <01:13:22.918>either <01:13:23.151>in <01:13:23.384>place

1519
01:13:24.745 --> 01:13:26.725
<01:13:24.745>or <01:13:24.920>they're, <01:13:25.095>they're <01:13:25.269>just <01:13:25.445>sort <01:13:25.620>of <01:13:25.795>coming <01:13:25.970>into <01:13:26.144>place.

1520
01:13:26.865 --> 01:13:29.365
<01:13:26.865>And, <01:13:27.005>and <01:13:27.144>a <01:13:27.285>lot <01:13:27.425>of <01:13:27.565>this <01:13:27.705>comes <01:13:27.844>down <01:13:27.985>to <01:13:28.125>that <01:13:28.264>animation

1521
01:13:29.365 --> 01:13:31.325
<01:13:29.365>that <01:13:29.540>I <01:13:29.715>showed <01:13:29.889>you <01:13:30.065>near <01:13:30.240>the <01:13:30.415>beginning <01:13:30.590>of, <01:13:30.764>um,

1522
01:13:31.425 --> 01:13:34.885
<01:13:31.425>of <01:13:31.565>my <01:13:31.705>presentation, <01:13:31.845>which <01:13:31.985>governs <01:13:32.125>the <01:13:32.265>flow <01:13:32.405>of <01:13:32.545>a, <01:13:32.685>of <01:13:32.825>a,

1523
01:13:34.905 --> 01:13:37.845
<01:13:34.905>of <01:13:35.080>a <01:13:35.255>payment <01:13:35.429>interaction <01:13:35.605>between, <01:13:35.780>uh, <01:13:35.955>between <01:13:36.130>two <01:13:36.304>parties.

1524
01:13:38.585 --> 01:13:40.485
<01:13:38.585>Um, <01:13:38.818>so <01:13:39.051>there's <01:13:39.285>multiple <01:13:39.518>parts <01:13:39.751>of <01:13:39.985>that.

1525
01:13:40.485 --> 01:13:43.565
<01:13:40.485>There's, <01:13:40.625>uh, <01:13:40.764>how <01:13:40.905>do <01:13:41.045>I <01:13:41.184>find <01:13:41.325>the <01:13:41.464>person, <01:13:41.605>uh, <01:13:41.745>to <01:13:41.884>connect

1526
01:13:43.565 --> 01:13:47.005
<01:13:43.565>to <01:13:43.720>them <01:13:43.876>directly, <01:13:44.031>which, <01:13:44.187>uh, <01:13:44.342>pay <01:13:44.498>is, <01:13:44.653>uh, <01:13:44.809>is <01:13:44.965>one

1527
01:13:47.005 --> 01:13:49.165
<01:13:47.005>of <01:13:47.180>the <01:13:47.355>potential, <01:13:47.530>one <01:13:47.705>of <01:13:47.880>the <01:13:48.055>solutions <01:13:48.230>to <01:13:48.405>that.

1528
01:13:49.595 --> 01:13:51.685
<01:13:49.595>There's, <01:13:49.795>how <01:13:49.995>do <01:13:50.195>I <01:13:50.395>get <01:13:50.595>the <01:13:50.795>transaction <01:13:50.995>directly

1529
01:13:51.685 --> 01:13:53.285
<01:13:51.684>to <01:13:51.918>the <01:13:52.151>miner <01:13:52.384>promptly <01:13:52.618>and <01:13:52.851>find <01:13:53.084>out

1530
01:13:53.285 --> 01:13:54.805
<01:13:53.285>that <01:13:53.627>it's <01:13:53.969>definitely <01:13:54.311>being <01:13:54.653>accepted.

1531
01:13:54.945 --> 01:13:57.245
<01:13:54.945>The <01:13:55.100>merchant <01:13:55.256>API <01:13:55.411>is <01:13:55.567>a <01:13:55.722>is <01:13:55.878>a <01:13:56.033>component <01:13:56.189>to <01:13:56.344>that.

1532
01:13:57.705 --> 01:14:00.685
<01:13:57.705>Before <01:13:57.860>all <01:13:58.016>of <01:13:58.171>that <01:13:58.327>even <01:13:58.482>happens <01:13:58.638>though, <01:13:58.793>there's <01:13:58.949>the, <01:13:59.105>um,

1533
01:14:01.025 --> 01:14:05.605
<01:14:01.025>the <01:14:01.200>negotiation <01:14:01.375>between, <01:14:01.549>um, <01:14:01.724>um, <01:14:01.900>the, <01:14:02.075>uh, <01:14:02.250>the <01:14:02.424>merchant,

1534
01:14:05.605 --> 01:14:08.045
<01:14:05.605>the <01:14:05.804>seller, <01:14:06.004>and <01:14:06.205>the, <01:14:06.405>um, <01:14:06.605>and <01:14:06.804>the <01:14:07.004>customer.

1535
01:14:08.545 --> 01:14:10.285
<01:14:08.545>Uh, <01:14:08.745>and <01:14:08.945>that's <01:14:09.145>part <01:14:09.345>of <01:14:09.545>bit <01:14:09.745>two <01:14:09.945>70.

1536
01:14:10.865 --> 01:14:13.445
<01:14:10.865>Um, <01:14:11.020>so <01:14:11.176>all <01:14:11.331>of <01:14:11.487>these, <01:14:11.642>uh, <01:14:11.798>components <01:14:11.953>are <01:14:12.109>coming <01:14:12.264>together

1537
01:14:13.505 --> 01:14:15.485
<01:14:13.505>and <01:14:13.660>of <01:14:13.816>course, <01:14:13.971>they <01:14:14.127>need <01:14:14.282>to <01:14:14.438>be <01:14:14.593>implemented, <01:14:14.749>not <01:14:14.905>just

1538
01:14:15.585 --> 01:14:17.805
<01:14:15.585>by <01:14:15.818>miners <01:14:16.051>or, <01:14:16.285>or <01:14:16.518>any <01:14:16.751>particular <01:14:16.985>service,

1539
01:14:17.945 --> 01:14:20.805
<01:14:17.945>but <01:14:18.061>all <01:14:18.178>of <01:14:18.295>the <01:14:18.411>wallets, <01:14:18.528>uh, <01:14:18.644>as <01:14:18.761>well, <01:14:18.878>so <01:14:18.995>that <01:14:19.111>they <01:14:19.228>can <01:14:19.344>work

1540
01:14:20.805 --> 01:14:22.205
<01:14:20.805>to <01:14:21.225>operate <01:14:21.645>happily <01:14:22.065>together.

1541
01:14:22.505 --> 01:14:26.245
<01:14:22.505>So, <01:14:22.660>um, <01:14:22.816>completing <01:14:22.971>the <01:14:23.127>work <01:14:23.282>on <01:14:23.438>all <01:14:23.593>of <01:14:23.749>those <01:14:23.905>steps,

1542
01:14:26.365 --> 01:14:28.845
<01:14:26.365>I <01:14:26.565>think <01:14:26.764>basically <01:14:26.965>defines <01:14:27.165>what <01:14:27.365>that <01:14:27.565>pathway <01:14:27.764>is.

1543
01:14:29.105 --> 01:14:30.245
<01:14:29.105>Um, <01:14:29.310>how <01:14:29.515>long <01:14:29.720>it <01:14:29.925>will <01:14:30.130>take.

1544
01:14:30.345 --> 01:14:33.285
<01:14:30.345>I'm, <01:14:30.472>I'm <01:14:30.599>not <01:14:30.726>sure <01:14:30.854>'cause <01:14:30.981>it, <01:14:31.108>it <01:14:31.235>requires <01:14:31.363>work <01:14:31.490>to <01:14:31.617>be <01:14:31.745>done

1545
01:14:33.305 --> 01:14:35.565
<01:14:33.305>by <01:14:33.432>a <01:14:33.559>bunch <01:14:33.686>of <01:14:33.814>people <01:14:33.941>that <01:14:34.068>aren't <01:14:34.195>me, <01:14:34.323>who <01:14:34.450>I <01:14:34.577>don't, <01:14:34.705>uh,

1546
01:14:35.685 --> 01:14:37.125
<01:14:35.684>I <01:14:36.009>can't, <01:14:36.333>uh, <01:14:36.657>compel <01:14:36.981>them.

1547
01:14:37.625 --> 01:14:39.965
<01:14:37.625>Um, <01:14:37.780>but <01:14:37.936>there <01:14:38.091>seems <01:14:38.247>to <01:14:38.402>be <01:14:38.558>a <01:14:38.713>pretty <01:14:38.869>strong <01:14:39.025>appetite

1548
01:14:39.965 --> 01:14:42.165
<01:14:39.965>amongst <01:14:40.198>many <01:14:40.431>of <01:14:40.665>the <01:14:40.898>wallet <01:14:41.131>applications <01:14:41.365>to,

1549
01:14:42.185 --> 01:14:43.245
<01:14:42.184>to <01:14:42.375>get <01:14:42.566>on <01:14:42.757>board <01:14:42.948>with <01:14:43.139>this.

1550
01:14:43.305 --> 01:14:44.925
<01:14:43.305>And, <01:14:43.480>um, <01:14:43.655>a <01:14:43.830>lot <01:14:44.005>of <01:14:44.180>work's <01:14:44.355>already <01:14:44.530>been <01:14:44.705>done.

1551
01:14:45.025 --> 01:14:48.405
<01:14:45.025>So, <01:14:45.224>um, <01:14:45.424>I'm, <01:14:45.625>I'm <01:14:45.825>pretty <01:14:46.025>happy <01:14:46.224>with <01:14:46.424>progress

1552
01:14:49.235 --> 01:14:51.005
<01:14:49.235>That <01:14:49.514>that's <01:14:49.795>the, <01:14:50.075>I <01:14:50.355>think, <01:14:50.634>technical

1553
01:14:51.005 --> 01:14:52.045
<01:14:51.005>behind <01:14:51.317>the <01:14:51.629>scenes <01:14:51.941>answer.

1554
01:14:52.245 --> 01:14:54.285
<01:14:52.245>I <01:14:52.525>think <01:14:52.805>from <01:14:53.085>a <01:14:53.365>practical <01:14:53.644>industry

1555
01:14:54.305 --> 01:14:55.445
<01:14:54.305>and <01:14:54.818>ecosystem <01:14:55.331>perspective,

1556
01:14:55.585 --> 01:15:00.205
<01:14:55.585>the <01:14:55.712>answer <01:14:55.839>really <01:14:55.966>is <01:14:56.094>developers <01:14:56.221>like <01:14:56.348>all <01:14:56.475>of <01:14:56.603>you <01:14:56.730>on <01:14:56.857>this, <01:14:56.985>um,

1557
01:15:00.205 --> 01:15:03.565
<01:15:00.205>program <01:15:00.485>who <01:15:00.765>are <01:15:01.045>listening, <01:15:01.325>designing, <01:15:01.605>creating,

1558
01:15:03.695 --> 01:15:07.725
<01:15:03.695>conceiving <01:15:03.894>great <01:15:04.094>applications <01:15:04.295>that <01:15:04.495>drive <01:15:04.695>people <01:15:04.894>to <01:15:05.094>want

1559
01:15:07.985 --> 01:15:10.725
<01:15:07.985>to <01:15:08.218>have <01:15:08.451>some <01:15:08.684>functionality <01:15:08.918>that <01:15:09.151>uses <01:15:09.384>micropayments.

1560
01:15:10.725 --> 01:15:13.045
<01:15:10.725>Something <01:15:10.925>like <01:15:11.125>Coda <01:15:11.325>where <01:15:11.525>developers <01:15:11.725>can <01:15:11.925>make <01:15:12.125>money

1561
01:15:13.115 --> 01:15:14.765
<01:15:13.115>through <01:15:13.581>an <01:15:14.048>API <01:15:14.514>marketplace.

1562
01:15:15.225 --> 01:15:17.045
<01:15:15.225>So <01:15:15.691>it's <01:15:16.158>the <01:15:16.625>ingenuity

1563
01:15:17.065 --> 01:15:20.525
<01:15:17.065>and <01:15:17.265>the <01:15:17.465>creativity <01:15:17.665>of <01:15:17.865>developers <01:15:18.065>creating <01:15:18.265>really <01:15:18.465>powerful

1564
01:15:20.525 --> 01:15:24.525
<01:15:20.525>applications, <01:15:20.700>have <01:15:20.875>real <01:15:21.049>utility <01:15:21.224>things <01:15:21.400>people <01:15:21.575>want <01:15:21.750>to <01:15:21.924>use,

1565
01:15:24.525 --> 01:15:26.805
<01:15:24.525>whether <01:15:24.724>they <01:15:24.924>even <01:15:25.125>know <01:15:25.325>it <01:15:25.525>runs <01:15:25.724>on <01:15:25.924>Bitcoin

1566
01:15:26.825 --> 01:15:29.805
<01:15:26.825>or <01:15:27.025>not, <01:15:27.224>that, <01:15:27.425>um, <01:15:27.625>leads <01:15:27.825>to <01:15:28.025>real <01:15:28.224>usage.

1567
01:15:29.825 --> 01:15:32.405
<01:15:29.825>So <01:15:30.000>we <01:15:30.175>encourage <01:15:30.349>people <01:15:30.525>to <01:15:30.700>just <01:15:30.875>get <01:15:31.050>building, <01:15:31.224>that's

1568
01:15:32.405 --> 01:15:34.725
<01:15:32.405>what <01:15:32.560>we <01:15:32.716>really <01:15:32.871>believe <01:15:33.027>in <01:15:33.182>in <01:15:33.338>the <01:15:33.493>Bitcoin <01:15:33.649>SV <01:15:33.804>world,

1569
01:15:35.285 --> 01:15:36.645
<01:15:35.285>building <01:15:35.591>a <01:15:35.897>blockchain <01:15:36.203>and <01:15:36.509>a

1570
01:15:36.645 --> 01:15:38.085
<01:15:36.645>digital <01:15:36.969>currency <01:15:37.293>with <01:15:37.617>real <01:15:37.941>values.

1571
01:15:38.345 --> 01:15:41.205
<01:15:38.345>So <01:15:38.695>build <01:15:39.045>really <01:15:39.395>useful <01:15:39.745>applications

1572
01:15:41.555 --> 01:15:44.125
<01:15:41.555>that <01:15:41.755>will <01:15:41.955>make <01:15:42.155>people <01:15:42.355>want <01:15:42.555>to <01:15:42.755>use <01:15:42.955>them,

1573
01:15:44.665 --> 01:15:47.405
<01:15:44.665>and <01:15:44.865>that <01:15:45.065>will <01:15:45.265>drive <01:15:45.465>micropayments <01:15:45.665>and <01:15:45.865>future <01:15:46.065>Bitcoin.

1574
01:15:49.035 --> 01:15:52.805
<01:15:49.035>Cool. <01:15:49.385>So <01:15:49.735>thank <01:15:50.085>you <01:15:50.434>Jimmy.

1575
01:15:53.255 --> 01:15:58.165
<01:15:53.255>Thank <01:15:53.488>you <01:15:53.721>Steve <01:15:53.955>for <01:15:54.188>your <01:15:54.421>cool <01:15:54.655>presentation

1576
01:15:58.305 --> 01:16:01.845
<01:15:58.305>and <01:15:58.460>for <01:15:58.616>all <01:15:58.771>the <01:15:58.927>ideas <01:15:59.082>you <01:15:59.238>planted <01:15:59.393>inside <01:15:59.549>my <01:15:59.705>head.

1577
01:16:02.785 --> 01:16:06.485
<01:16:02.785>Um, <01:16:02.960>I'm <01:16:03.135>sure <01:16:03.309>I <01:16:03.485>will <01:16:03.660>be <01:16:03.835>there <01:16:04.010>on <01:16:04.184>July

1578
01:16:07.725 --> 01:16:10.165
<01:16:07.725>18 <01:16:07.925>and <01:16:08.125>19, <01:16:08.325>uh, <01:16:08.525>and <01:16:08.725>see <01:16:08.925>you <01:16:09.125>again

1579
01:16:11.105 --> 01:16:14.845
<01:16:11.105>and <01:16:11.338>hope <01:16:11.571>to, <01:16:11.804>yeah, <01:16:12.038>stay <01:16:12.271>in <01:16:12.504>touch.

1580
01:16:15.665 --> 01:16:19.325
<01:16:15.665>Um, <01:16:15.820>so <01:16:15.976>for <01:16:16.131>all <01:16:16.287>of <01:16:16.442>you <01:16:16.598>who <01:16:16.753>haven't <01:16:16.909>already <01:16:17.065>registered,

1581
01:16:21.475 --> 01:16:22.965
<01:16:21.475>this <01:16:21.743>could <01:16:22.011>be <01:16:22.279>your <01:16:22.547>last <01:16:22.816>chance,

1582
01:16:23.265 --> 01:16:27.245
<01:16:23.265>but <01:16:23.615>it's <01:16:23.965>not, <01:16:24.315>um, <01:16:24.665>say

1583
01:16:27.795 --> 01:16:30.845
<01:16:27.795>bye-bye, <01:16:27.995>um, <01:16:28.195>to <01:16:28.395>everybody <01:16:28.595>here <01:16:28.795>on <01:16:28.995>Click <01:16:29.195>meeting

1584
01:16:30.905 --> 01:16:32.485
<01:16:30.905>and <01:16:31.255>everybody <01:16:31.605>here <01:16:31.955>on <01:16:32.304>YouTube.