LUC Group Call 36 (LINK Crypto Deep Dive (Feat. King Richard)

foreign [Music] so basically I'm gonna you know let you do your thing I just want to mention for our members as you have questions of course drop them in the chat and I would

say for the purpose of not messing with your flow we'll go ahead and let you do your thing and then we can kind of you know revisit questions unless you happen to see something that you feel like you need to stop and explain feel free

that's up to you but in general we normally kind of go straight through and then we can we save some time at the end for questions and then I'll have a few questions myself of course but that's usually how we do things sure that

sounds awesome all right uh let me just start by introducing myself so my name is Richard Wells I've been invested in blockchain technology now for over two years and so I've been researching the space on my own time as a college

student here at the University of Florida and it's really kind of led me to really kind of read Define how I believe that the world is working and how it's going to be working in the future I believe as we'll get into smart

contracts and their ability to change business models is a could be a groundbreaking thing in the next five to ten years and so my job here today is not so much to show any currencies cryptocurrencies but really my job here

is to show you the fundamental value of what's actually happening underneath the hood and hopefully guide you to the assets that are capturing the most value and this one in my opinion is the one that's going to capture the most right

and so so I'll just start with the name of it right so chain link is what I'm going to be talking about today if you haven't heard of chain link I would really recommend looking it up there's there's plenty of resources out there but chain link itself yeah the link token that's right that's part of what

I'm gonna be we're going to be talking about today but towards the end I'll be talking about the link token but mostly I'm going to be talking about the network itself and why it captures value and then how the link token is associated with that value so to start

off I really want to kind of start painting some broad Strokes here about what chain link is meant to do and enable and that essentially is smart contracts through the blockchain and so

the reason smart contracts are kind of valuable today is because it's starting to redefine and enhance different sectors such as Finance Insurance the legal sector both public and private and

the way it's starting to do these things is to introduce these concepts of like transparency immutability and trustlessness I'm going to break each of those down right now and so like transparency for example when you have

two businesses who are trying to work together there's often an an information asymmetry right so one company or institution or entity has more knowledge about a certain event or an asset than

enough you know transactional value or whatever it is right and so you're essentially having to wait or you know there's not as much efficiency as it could be right for for the user and for

the institutions immutability right and so immutability essentially is this idea that you can't change or retroactively alter certain transactions or certain information sharing or whatever it is

right and so like groups with competing interests in this instance do not control the final say and how smart contracts are resolved so you don't have an in you don't like an insurance company who controls when policyholders are paid out right or you know you don't

have essentially this this kind of big power Dynamic where you have a consumer of an insurance policy for example and an insurance company that can pretty much dictate whenever you get paid out right and so that's kind of the one we live in today right that's kind of how

contracts work but with smart contracts through immutability this this idea of a new ability that won't necessarily be a thing anymore right and I'll get into why later and then finally trustlessness in my opinion this is the main benefit

of blockchain technology in general is this idea of trustlessness right and so businesses with smart contracts no longer have to trust the intentions of other businesses and individuals who no longer trust have to trust their

companies right which hold you know power of their lives in certain areas right and so essentially this idea of trustlessness is you don't have to trust the brand of a bank or the brand of a trading firm or whatever it is right

because smart contracts will through cryptographic guarantees will ensure that what you signed up for and what you signed in the contract will happen as long as certain conditions are met there's no no BS about a company being

like well we you know there's this other condition that you know we didn't really consider before and now we can't do what you know know you signed up to do right they're not following through on their contractual agreements with smart contracts you don't have to trust that

they'll follow through they will because the contract itself automatically executes right so that's this idea of why smart contracts are are valuable in certain areas and why they're valuable to Consumers right because we again want

to bridge this gap between just kind of this idea of smart contracts and like what it actually means for the consumer right and how they relate to businesses and so like for example one great example real life example of why this

smart contracts are important is Robinhood if you guys remember the gme thing with with GameStop right the huge shorting thing that happened a few months ago Robin Hood essentially had the power to stop Traders from selling

and buying a gme right or and so what they had right is these people thought they had a certain agreement with this company Robin Hood the agreement was that they could trade and sell their stocks whenever they want but in actuality they really didn't have as

much power as they thought they did and when Robin was halted trading they were screwed because they couldn't sell their assets for when they wanted to and then they lost value right so this is just one example of companies abusing this

power system we have today by not using smart contracts and they're not forced to follow those smart contracts because they're not in place right so those are just those are some real life things that's a real life example why smart

contracts are important and I'm going to go over now why then if these if these things are you know so helpful why are they not being adopted right or why haven't they been adopted so far right and so there's one major issue and this

is the issue that chain link addresses but to start in again in Broad Strokes of what this issue is it's essentially called The Oracle problem and what this means is that blockchains are inherently closed off from outside data right and

this is the data that smart contracts need to transform the industries we talked about above so if it's a finance industry they need Forex data or like price data from certain exchanges if it's insurance they need iot data from

like car if there's a car crash or like you know all these different things that essentially help the smart contract make the decision it needs to make for you know contracts to be automated essentially is what's happening with

smart contracts and so there's this big problem right so how do we get this data from off the blockchain onto the blockchain because if we can't do that then really all smart contracts can do on the blockchain is you know mint

tokens as we see you know a bunch of cryptocurrencies are being minted or you know essentially just keep a ledger of where Bitcoin is being transferred to from one wall to another or ethereum or whatever it is right that's really kind

of the inherent capabilities of blockchain right and so even though we want more transparency we want more immutability we want more trustlessness that's impossible because we can't get the data that the smart contracts need

for those specific use cases right and so in order to unlock the potential of blockchains we need a key essentially to get this data reliably from off the

blockchain onto the blockchain right and so in order to do this the blockchain needs a decentralized network of data just kind of like how blockchain is a decentralized way of confirming like

transactions right so Bitcoin is decentralized because all the kind of nodes of the computers for the Bitcoin Network confirm that you know this person holds this Bitcoin right so it's

a way of saying of being trusted that you know this person has this Bitcoin and the entire network agrees right and so there's kind of this consensus right of ownership and that's kind of why they have value in the first place and so

just like there's a consensus of ownership on the blockchain there's also a consensus of data right of data validation getting that data to the blockchain and I'll explain why this is important in just a second right so what happens when the data is not

decentralized right so here's an example a smart contract needs a price data to know if the smart contract needs to liquidate a margin trade so let's say there's a smart contract that says if you know the price of this asset drops

below this much right then you are going to be liquidated because that's what our protocol calls for right you took out a loan against this against your assets your collateral right for example and the price of an asset drops below that threshold then you're going to be

liquidated because that's how they make their money right that's that's just kind of margin trading in general and so in this instance the smart contract would need data from an exchange for the

asset to show that the the price it needs a reliable and consistent price fee to ensure that this this price doesn't go below the threshold otherwise you know it can be manipulated right and so if but here's here's the problem

right so if the price for the smart contract is drawn from a single Source then the price can be manipulated by a malicious actor and that data being sent to the smart contracts which automatically executes the liquidation

has no recourse for the person who was screwed over and so this is the problem with smart contracts right now or it used to be is that when you try to get this price data on into the blockchain

for a long time they use just one source of data right and so if a whale deposits you know whatever asset into that exchange neither sells it all or buys it all and like you know really messes with the price then the Oracle that's putting

that data into the blockchain is going to say well you know this is what's happening at the price right now you know this is what's happening and so here's the data you need smart contract and smart contracts like okay this is the day I asked for and so I'm going to execute this liquidation price and so

now this person gets screwed because someone was manipulating the market right and so there was no reliable data feed to get that data into the blockchain because it was just from one single Source right and so this is I'm

talking about with decentralized data is that you get data from all these different places and you aggregate them in various ways so that the price that you're getting to your smart contract is reliable and secure and you can trust it

because it's being drawn from multiple different places right so that's the example of what happens if you don't have a decentralized data source right and so that's one way someone can get screwed over and this is why right this

is why blockchain technology has not been ready for Enterprise adoption because if some huge institution was to get behind this technology and their users are getting liquidated off of false data then they're going to lose their reputation right and so they

haven't been able to get to the point where that's viable yet because you know the data being put on the blockchain has not been good enough yet right and so this is where chain link hinders the picture right and so now we have you

know smart contracts why they're valuable and we have the problem of why smart contracts aren't yet ready for adoption and so this is where chain link enters the picture and kind of completes the cycle a little bit right and so

essentially what chain link has been working on for the past four years is and network to decentralize the data needed by industry standard businesses looking to get involved with the blockchain and all of its benefits right we already talked about the benefits

transparency immutability all those things right trustlessness companies want these things to optimize their business right they want to get business savings by being able to like make these efficiencies in their companies right

and so chain link has been working behind the scenes for years and years and years to make sure that the companies who want to use blockchain can do so in a secure way right and so in

doing so right they've been succeeding now for I think it's been really noticeable in the past two years I would say but now we have markets like decentralized Finance I don't know if any of you are familiar with that term but decentralized Finance or Defy is

essentially a product of chain Link's ability to secure data right and so it's D5 stormed into the you know existence about I think even like just one year ago we had less than one billion dollars

locked up in decentralized finance and now we're knocking on 80 billion so that's like an 80x increase right of value being locked in these smart contracts who are using chain link to get their data right right and so the reason this has been possible is because chain Link's essentialized Oracle

Network secures the reliability of the data being used by the smart contracts right and so let me give you guys a few examples of the success that chain Link's had uh doing this so far right so there's uh there's a lending and borrowing protocol that you know which

does like liquidations I was talking about right there's a there's a protocol out there called Ave and it's Securus yep there it is obviously secures now 11 billion dollars in lending and borrowing

Capital so as of right now you could go to Ave which is a decentralized application and you could deposit a stable coin right of you could do die you could do usdc usdt these different

kind of stable coins which are pegged to the dollar you can deposit them and start earning like anywhere between five and fifteen percent which is actually insane if you think about because traditional Banks they'll give you less than one percent right and so not only

is this is this a great opportunity to yield some you know earn some yield from your assets but it's secure right because all the price feeds that Ave uses to you know measure okay how much

is this collateral worth how much are these different assets earning because you know you need price aid for all of that right and so chain link offers them the solution by giving them you know however many prices they ask for by decentralizing it in a way that they ask

for right is a very flexible customizable and so that's that's a success story of Ave when I remember even going live was you know less than 100 million dollars worth of value locked in it and now we're over 11

billion so that's one example another one I really like because it just it showcases how needed chain link is is synthetics and so synthetics now holds

2.35 billion dollars in derivatives and synthetic assets as a Marketplace and if you don't know what that means it's just you know it's essentially just a way for people to be exposed to the price of an asset without actually holding it so

instead of holding gold you could buy synthetic gold which is paid to the price of gold but you don't actually have to own gold right and so that's a synthetic asset and so in 2019 synthetics um they actually suffered

from a price manipulation that cost them over one billion dollars right and so the exact same example I just mentioned before of like someone manipulating the price feed and messing with this you know the smart contracts this happened

to synthetics in 2019 and immediately after this happened and they negotiated with the hackers and they were able to you know make a settlement or whatever but immediately after that happened they got to chain link and we're like okay we need a surprise like we need we need

like reliable price data because they realized after that attack just how important it is for your smart contract to have reliable data right because it cost them a billion dollars right and so that those are like two two specific

examples but chain link now is integrated with over 500 different companies uh startups whatever right so from established data providers like Google and Oracle who are providing data for smart contracts to you know

different areas such as decentralized insurance decentralized law open law is a great decentralized application for that area and then Supply Chain Solutions right so chain link is touching you know dozens to hundreds of

different Industries and every every application that's trying to use the blockchain has to use chain link because they're the only industry standard and reliable source of this decentralized data that is so so high in demand right

now right so that's essentially these exact examples of a success that chain link has had recently so now that we've kind of like just talked about their accomplishments let's actually kind of dive in to how the network actually

works right because I can talk about chain link as you know oh decentralized data but unless we get into the nitty-gritty you guys don't really understand what they're about it's valuable right so essentially how chain link the Channel network works is is

like this right so the entire chain link network is made up of different Oracle networks so I want to make this a distinction between the chain link Network as whole and then these various Oracle networks within the chain link Network right so you can think of it

almost like a meadow right so chain link as a network is a meadow of flowers and in each in the meadow there's singular flowers which are the Oracle networks and then those Petals on the flower are

the nodes that aggregate the data right and so there's kind of like a three-tier thing going on here of chain link Network as a whole the Oracle networks that Supply data to whatever smart contracts need those that data and then

the nodes that make up those networks are how you decentralize the data right so for example if you have an oracle Network for Price data you have 20 nodes in that Network then those 20 nodes get you the price and it's aggregated and then that's pushed to the smart contract

right through the Oracle Network that's kind of a basic explanation of how this works right and so Oracle networks themselves can be customized to secure the needs of smart contracts yeah exactly right so I was just about to get

into that actually so they can be customized for whatever the smart contract needs so if you have a smart contract that's managing you know gambling for a horse race right then you know what need does that Oracle Network

what need does that smart contract have for you know gaming like you know soccer statistics not much right so it's like you know it's not it's not a monolithic Network chain link is in a monolithic Network that you know you get all this

data that maybe you don't need all of it but you know you need a little bit so you have to use all of it right it's not like that it's really a very composable you can break it down it's you just you get what you need and that's all you

have to pay for essentially right and so for the horse racing and gambling you get horse racing data or gambling data right I'm you know these are just broad examples but in every industry they need certain specific data and so the the

chain link Oracle or the chain link Network offers different Oracles Oracle networks for those specific use cases right that's kind of the main idea and so you know these things can be these Oracle networks can be customized in

various ways so you can customize the number of nodes you want the quality of the nodes right so how reliable are those nodes how reliable have they been in the past you can request nodes that provide special data as I kind of

mentioned earlier you can customize how the data is aggregated or delivered to the smart contract you can also customize how often that data is pushed to the smart contract so there's various

ways that chain link kind of molds and shifts and is is kind of just moldable to what these smart contracts actually need right and so in that sense it's very attractive for smart contract developers because they're like I just

need this one little thing you know I'm only trying to make a smart contract that secures maybe I don't know a hundred thousand dollars so I don't need a lot of security right but just just enough where I can you know to fit my need and chain links like sure absolutely we you know you customize it

we'll provide it right so yeah flexibility exactly that's really really key right it's a really key idea to this this whole network and you know from that to you know a hundred million dollar contract which needs a thousand

nodes in their Oracle and they need the highest reliable nodes right and so in that sense you know chain link can rise to the occasion and be like okay you need a lot of security you're gonna have to pay for it but we can give it to you because you need it because you have a

really valuable contract that's securing a lot of money right so that's kind of the the flexibility aspect of the chain links Network right and so but this isn't the only thing that that chilling provides and I'm knocking into these

little categories but chain link does so much more than just provide data that's kind of like one of the main things it started with just because it was so in high demand for decentralized finance which handling goes so so much further Beyond than just providing data right so

they have different functions like the verifiable randomness function which essentially allows chain link to provide provably random number to whatever contract needs it so for like a lottery

smart contract they can use chain Link's vrf function to get a verifiably random number and so that the consumers and the customers who are part of that Lottery can say you know okay prove to me that

this number was randomly generated well we can because it's chain link verified it and that's on the blockchain and so we can we can prove to you that it was and now I think compare that to like the traditional you know Lottery system where we have no idea there's no

transparency of like whether or not this is truly random like for all we know it could be rigged right and people do that and we have no idea because there's no transparency but with blockchain there's transparency and so that's why you know it's so important for chain link to be

able to provide these functions is because they're trying to bring transparency and Trust lessness so you don't have to trust the institutions right you can trust the code of the smart contract instead right so that's kind of the key another function that

chain link provides is this function called Mexico's and so mexicos are essentially you know a way for institutions to adopt blockchain and like public blockchains but still

preserve the Privacy that they need right so if there's a business that is you know wants to keep its business model secret or it's holding secret they don't want all that stuff in the blockchain right where anyone can see it in like front run them right if anything

happens then they can be front-rand there's just a huge mess in that case actually the smart contract would be a liability and probably be liable to like lawsuit for example right so there's certain regulations that need to be

taken care of in order for Industries to adopt this and so Mexico's is one thing that you know preserves the privacy of Institutions to a certain extent so that they can still be trustworthy or you know by being trustless right they don't need to trust the institutions that the

consumers don't have to while still preserving enough privacy to be legitimate business right so that's another function that channel provides two other ones Deco is essentially a way to draw data from any Source through

https there's you know various protocols I know there's a layer if you want and then option reporting which is the one of the most recent updates to the chain link Network which actually reduces costs for putting data on the blockchain

by 90 and so until this point chain link had been growing fairly steadily but now by reducing costs of putting this data on the blockchain their their scaling has just gone through the roof like the amount of Integrations they're having a

day has gone up like before it was maybe like you know five a week now we're like 15 a week right uh yeah because of gas fees right so if anyone familiar with ethereum this is a change that most protocols run on and so kind of getting

that data onto that blockchain can be costly because there's a lot of transactions that kind of clog it up right and so you know the node operators for the ethereum blockchain will be like well this person's gonna pay pay me more to get their transaction through more

than this person right and so it'd be really expensive and so by reducing the amount of transactions on the blockchain by moving it off the blockchain right so it's like aggregating off the blockchain the same got one transaction right

aggregation to the blockchain again it's kind of a it's more of an esoteric concept but I'm willing to talk about it more if people want me to but in any case these are just some of the various functions that chain Lee provides besides just you know putting data on

the blockchain right there's so much more to chain link than just getting price feeds on the blockchain is kind of the point of that section and so as investors I'm sure you all are wondering so like what are you buying with chain

link are you are you buying the stock are you buying you know equity in the company like no so let's actually like talk about this link token right and I want to distinguish it because I don't like yeah we're getting against a second

so I don't want to talk about chain link like a currency even though it functions as a currency within the network because honestly my biggest pet peeve when it comes to talking about cryptocurrency is that everyone believes that

cryptocurrencies or most people I've met talked to believe that cryptocurrencies are like eventually what we're going to be using to like transact in the real world like I can pay for my coffee and Bitcoin or I can pay for a coffee with ethereum like no that's not the point of

these this these Concepts right it's not the point of these tokens or at least most of them right now maybe like you know whatever but the chain link token is very unique in the sense that it is essentially the fuel that the chain link

network runs on right and I'll explain why that's so important in just a second so the link token in essence is what the chain link needs to function like full stop like if you don't have the channeling token the network will not

work right and I'll explain why so uh there's two major functions that the chain link token serves in the network right and so the first one is payment right and so you know how we've been

talking about like the node operators within the channeling Network right so so these nodes that provide data to the ecosystem or to the Oracle Network that smart contracts need right so these nodes for providing data in the chain

link Network as a whole the people who want their data for their smart contracts are going to pay those chain link nodes right and so any but but the payment here's the key right the payment

has to be in the link token and in order for a business or someone who wants to participate in the network to use chain Link's Network to get their data they

have to have link first to be able to pay the node operators right and so they may not own a full stack of Link they may use like a converter where like they'll spend money and then that's converted to link and then that link is

used to pay the non-veries but the key point is that internally in the system of chain link every transaction or every you know data point that's sent to the blockchain through chain links Oracle

network has to be in a link token right and that's so you know this is this is one reason why this is key is because what it does is it keeps the chain link Network's value from being siphoned off

to other tokens right and so because it's pegged to the link token itself the link token captures all of the value that's running through the network because if it was siphoned off by like ethereum or Bitcoin then any price

fluctuation in those two assets will affect the chain link Network as well and so it's very it's a closed system of monetary incentive right the chain link Network itself is the outlet right or

like the token itself is the outlet of all the value held within the chain link Network that's kind of the key point right so the nodes need to be in a different way yeah sure let me try and

like give you an example yeah that'd be good yeah so here's kind of the main idea right so say I am a business and I am a business I'm in the business of insurance and I want to use a Smart

contract for my insurance products because one it's quick so my my cons my customers are happy I don't have to wait for you know fraud claims or inspections because chain link and smart contracts

enable me to optimize this process this back end right just we'll take that for granted and because of this I want to participate in the same Network because it enables these smart contracts and so I'm sitting there and I'm like okay so I

want to participate in this network it's going to optimize my businesses it's going to cut costs by three to fifteen percent which is huge and it's going to undercut all of our competitors and we'll be the lead in whatever industry

I'm in right so you know health insurance car insurance whatever and so in order to participate in the channeling Network they're like well we're part of this network all the note operators like we're part of this network but you know here's this one

thing you know node operator us node operates for the chain link Network we have to follow this rule where you have to pay us a link right and so because of that you know if you don't have link you can't really do anything about it so now

I have two options right I can be like okay well now I need to go to the market and buy link to use this which to be honest with you that never happens the chain link team is actually allocated a

certain portion of link two businesses who want to use it and so it's it's not confirmed but it's my theory that you know the chain link team will probably sell their chain link to uh someone who wants to use the network probably to

disc account or maybe they'll you know because you know their job is to facilitate the channeling team's job is to facilitate the use of their Network and so if that means you know selling chain link to you know Google who wants

to provide data or use the data or whatever then they'll you know make sure they'll make a deal behind closed doors whatever right so but in essence the main point is that they have to have Link in the first place to use the

network because the node operators can only accept link right and so but the other option might be okay so I don't have any links per se but I have a lot of money and I want to use a system and so the other option would then be to use

some sort of converter or like you know from US dollar to link right so that can all be like on the back end right so you don't actually have to see it but it's still like on the back and it's the dollars converted to link and then that

link is paid to the node operators right and so again the point of this is is that when the link token is is so integral to the payment and the the usage and the providing of data in the

system the price of Link has to appreciate to accommodate the value being locked up in it so I'm going to explain that in just a little more detail in just a second so that's the payment side right so I mentioned the payment side at first so anyone who

wants to use the network hold on let's say these questions so the more LinkedIn system address myself so I'm going to explain in just a second actually and so let's so we've talked about payment right so we've had payment in for people

wanting to use the chain Network so now let's talk about people who want to provide value to chain Link's Network right so we have the consumer who's using chainless data and we have the provider who's providing the data that the smart contracts and the businesses

who are using them want right so this is where this idea of staking comes in right of using chain link as essentially collateral to provide data and let's explain it let's dig into this concept right so in order to participate in the

network as a node operator so you want to provide data right I have data I want to provide it I want you know smart contracts to use it right I want it to be aggregated that kind of stuff right so I want to be a participator in

providing data but there's this caveat where the smart contract business or whatever they'll be like okay so I want you to give me data I do I really do but I need something from you first and that

is collateral right so say there's an oracle of 10 nodes like a network of 10 nodes right and they're all providing data to the smart contract now let's say another malicious actor is like well I want this contract to fail for whatever

reason right they'll be like uh this if this smart contract works out for this company then that's going to negatively affect me I I'm the bad actor right and so I'll be like okay well I'm gonna like pay off the notes like maybe you know

ten thousand dollars each to give bad data right so that you know if they're down like they're you know they're not functioning or they get bad data right they're just you know they're not performing their job that they're supposed to do and so how do you prevent this right how do you prevent someone

from paying off the chain link nodes in the network and you know having them provide bad data to the smart contract right so here's where the incentive of collateral comes in so now as a node operator I have to say so in order to take this smart contract job and to be

paid in the link as we've already talked about I have to put up a certain amount of link as collateral right which essentially is saying that if I don't give you the good data that you asked me for as a node operator you get to keep

my link so a contract might be worth a million dollars and the company will say okay put up a hundred thousand dollars worth of chain link as collateral said if you lose if you give me bad data then I have to keep your link right and so if

each of the 10 nodes puts up 100 000 in collateral right then if they're all paid off they have bad data or if there's you know any sort of like funny business that's going on right then they'll lose their chain link essentially and the company he will be

compensated that's essentially their insurance right to be like well you gave us that data but at least we got the collateral so now we're okay at least we have less of a hit right for giving you know for the smart Hunter not functioning correctly and so that's this

main idea of staking is that to be a data provider you also have to be participating by putting up your own link as collateral to take these jobs right so let's recap again right so we

have the customer or the consumer who's using the chain link Network they're paying the node operators and chain link for the data and then we have the data providers which are the node operators and they're putting up collateral in

link to provide data to the network right because otherwise they're not going to be allowed to take the job right and so that's that's kind of the both ends of consumer uses chain link to pay the not operator and the node

operator uses chain link to provide collateral so they can take the job and perform their function so that's kind of in essence why the chain link Network needs a token so let's kind of like let's run a little like thought

experiment here just some quick math of you know the value of the of the token being locked up let's say so there's there's a billion chain link tokens in existence right now there's never gonna be any more there's never going to be

any less right so there's exactly one billion so now what would happen then if you know as we've already seen like chain link securing you know close to 80 billion dollars worth in D5 right from

one less than one billion to 80 billion that's that well that's not true because you know that's total D5 not every single D5 project uses chain link although they're kind of tools that they don't so but for the most part A lot of

the D5 protocols that are securing a lot of value use chain link right so you know from zero from like one billion to let's say like 50 billion right now if there's only a thousand or a billion chain link tokens in the system in order

to secure the value of these contracts as we've been saying they have to be put up as collateral right and so if you think about it the more value that's get that gets locked away in these smart contracts right the more value that the

chain link Network captures in its system the more that the these node operators have to put up as collateral to take these jobs right but if there's only one billion tokens in existence

what's the only way for the node operators to actually put up this value right the only option would be price appreciation because if you know I have a thousand chain link tokens and a second and I think like I think it's at

50 right now so a thousand trailing tokens fifty thousand dollars I could secure a fifty thousand contract but that's about the extent of what I could do right I couldn't go anything higher than that because I don't have any more chain link tokens right assuming I can't

buy any just for you know examples sake I can't buy anymore fifty thousand dollars and so but but we still have more demand coming right there's more people need smart contracts there's more people need more data from chain link so the value and of these contracts keeps

going up and up and up so the only way for the network itself to actually grow with it is for Price appreciation because you know eventually you're going to get to the bottom of 1 billion tokens and if it's only worth one dollar you

know you can only secure a billion dollars worth of value right but because we're securing so much more than that the price of Link actually you know Rises to meet this demand it's really amazing and if you look at the chart

right if you look at the chart we have been on this kind of upward Trend I call it the fundamental price curve we've owned this upward trend for almost three years right and you know we've had ups and downs right there's there's always

gonna be speculation involved right there's always gonna be speculation in any asset so as people see the price of Link go up oh you know it's gone laid by some right so that you kind of get a little inflated then it pops a little bit you know that's normal but what's so unique about the chain link chart is

that there has always been you know this Rising floor that's been going up and up and up and the reason for that is because the value that chain link secures has also been going up and up and up and so it can't go below a

certain price point because if it did then it would not be growing enough to secure the value that it's gaining right I can go into Mexico's and just a minute here and so that's kind of the fundamental investing thesis behind

chain link right and so now that we've talked about you know the link token and how it's actually tied to the network right because that's key right if the chain link if the value of the token is not tied to the network then how is it going to capture the value as a network

grows in value right so we've established that connection through the you know staking and the you know paying of node operation chain link right and so that's kind of the main thesis I have for why chain link as an investment will

go up is because the network itself is growing so rapidly right and I've already talked about why you know with option reporting and how many how quickly they're being integrated and the rate of Integrations that are going up

right so we're seeing massive massive adoption every day you know it just keeps getting faster and faster and faster you know as the total value lock keeps going up faster and faster and faster like a curve the same thing right we're going to have the same just like

price appreciation to meet that Demand right so let's see here I've got a few questions is there a way to know what the network value level is like the bottom that I can't go under so not

necessarily right you know to to fully know and understand like exactly how much like it's because like I've mentioned before there is like an element of speculation right it's hard to say for sure like how much of the

speculation is outstripping the fundamentals right and so if the speculation is like really high so if you look back in like August of last year for example we went all the way up to 20 right but even though we had fundamentally you know made a lot of

progress that 20 price point was a huge bubble right so the speculation far outstripped the demand at that time at the time right so we got to 20 and we we for the next I think six months we range

between like 20 and like I think maybe seven or eight dollars right and so we range between there for a little while you know as the speculation kind of died down and we were and we returned to the fundamental price curve and for that cycle for that little cycle of six

months the bottom was around seven dollars and then it kind of rose up again and it had made higher lows and higher lows and then after a certain price point we shot off again you know I think it was like January this year we

went to like 25 or 30 dollars right and this has been the pattern chain Link's been printing for the past three years right it has seasons of you know speculation where it'll go up but it always returns to this fundamental Rising curve right so it's kind of going

up and up and up but as soon as it hits that curve it shoots up again right and so it has more speculation and then it goes down and then it hits the price curve it shoots up again right and you know the time frame has been anywhere between like you know two months to like

a year it can it can really vary depending on how the Market's moving but that's kind of like that's why it's impossible to really kind of nail like how do we know for sure what that point is you know how much can we totally you

know measure the value of chain link it's securing and how you know how can we calculate that into like a certain bottom that's kind of impossible just because of the nature of speculation and that'll always be a factor right as Channel increases in price there will always be more speculation so that's

just kind of a nature of the market right what you're kind of speaking to is basically moving averages no yeah essentially it's almost like you're checking like let's say a 50 day or 100 day it's always going to regress to the mean but one usually when it touches it

bounces off it finds a new high exactly you know you have the Golden Cross and then there he goes again right we can pull up some charts in a bit if we want yeah if you'd like to I'm not much of a TA guy again I've been investing in this fundamentally up I love this I could

break it down for people if it's a beautiful music yeah it looks like a rocket ship yeah so that's kind of the extent of what I have to say I think it's about 45 minutes so yeah let's go into questions they don't have any

questions about anything I've said so far cool this was a great so we just had our first crypto guest last week and he definitely gave like a more foundational

entry-level understanding so I'm definitely glad we did it in this order I think people would have had their face blown off if uh you went first uh but hopefully uh people can wrap their head

around at least some of what you're saying I definitely think a lot of us will need to watch this again but hopefully you guys are starting to understand I mean you just wouldn't you just went into so many use cases at

least five of those I haven't even heard of and I've been researching link now for a solid month or two so that's pretty badass I think one of my biggest takeaways is when we think about the

crypto space like you said you know a lot of people just think of Bitcoin and they just think that it's all about a store of value or how we're going to exchange money in the future or whatever and I'm much more of a fan of these cryptocurrencies that have actual

intrinsic value right that actually do something and I think what you just highlighted more than anything is how much B to B and B to C implications

something like link has that maybe other cryptocurrencies don't I think it's very easy to look at crypto and think of it as like oh I'm gonna buy something from you and I'll pay you in Bitcoin it's

just about people to people and it's like no this is going to affect the entire supply chain it's going to affect all Industries business as a whole and the monetary system exactly and that's

what I want people to see and ultimately right is this idea that we're moving we're moving away from this Narrative of currency and I think the more quickly we all realize that the better off we'll be

so you know aside from chain link it's like okay so chain Link's enabling all these used cases right so like who's using them well you know look at Ave look at synthetics I already mentioned these two right these are examples of

actual use cases these actual you know amazing decentralized Financial tools that were not possible even two years ago like there's no way you could have gotten a loan without anything but collateral two years ago and you can do

that now with how do you have to like to have a kyc you don't have to know who they don't have to know who you are as long as your wallet address has a certain amount of collateral deposited then you know you can borrow against that and that's all you need it's amazing it's amazing what we can do now

with D5 and all these different cool applications and so we're moving beyond just you know like you said peer-to-peer exchange to you know the way that that kind of like middleman of money was abstracted away with Bitcoin right now

these in D5 for example though these financial institutions are being abstracted away banks are being distracted away you know money markets are being abstracted away all these things are being you know all these middlemen who've been siphoning value

for years and years and years since the you know the beginning of the financial you know whatever institutions then you know because these are being abstracted away to protocols and blockchain and some more contracts people now there's

very little barrier to entry you don't need to have a job that pays you a certain amount of money you don't have to have a credit score you don't have to have all these things right as long as underwriting or anything like that exactly exactly you know there's so many

of these things that these these centralized institutions demand that people have but you don't need those with protocols as long as you fulfill the requirements that the protocols ask for which in obvious case is just

collateral you know then that's all you need right so it's amazing to me that yeah go ahead I was gonna say I just want to point out like that link was never meant to be a retail token

compared to something like Doge or something where it's like that is meant for retail to buy like that the purpose of it is a social coin is so that people can get hyped you know that that's what

it's made for link was never made to be a retail token like it's made to to basically be the infrastructure of the network of blockchain moving into the future like it's not meant to be like a

traded token it's meant to um bootstrap is the right word but basically enable the function of this whole new smart contracts obviously

right now mostly but the future of crypto and blockchain and all of these things would not be possible without links so it's it's not a retail on the surface something like you say Ave chain

link uses Ave and it is crucial to ave's reliability as a protocol but no one knows that Ave uses chain link you know

it uses it behind the scenes however it is crucial and fundamental to this to the success of Ave so it's one of those things where it's it's very behind the scenes in infrastructure of a lot of

these things that you that you use on a day-to-day basis but you don't know you're actually using chain link yeah right so so Peter has a really good question here I actually like this one a lot so if smart contracts are for defying decentralized insurance would

there ever be a point where insurance companies would use Smart contracts or would it eliminate the insurance and bank companies so there's I think this is a great question for several reasons but I want to start with this idea yeah that like you know in the past we've

heard of like oh cryptocurrencies are going to abolish institutions and like everything's gonna be free market and like No One's Gonna have control over everything that's in my opinion a little too idealistic I think what we're gonna

see is there will be a certain level of adoption and the adoption that we're going to see is going to be rapid once it starts right it's gonna be like a Snowball Effect because I'll tell you

why if I have an insurance company that you know uses has an auditing section that has a you know fraud claimed adjuster and all these guys who are like working around the clock to make sure that these people aren't abusing their

insurance policies or trying to like fro you know create fraud essentially right that's a lot of my resources that's a lot of backing that's a lot of people I have to hire that's a lot of just scrutiny that I require as an insurance company to make sure that I'm not

getting screwed over and these policies aren't being paid out you know willy-nilly for no reason right so what the attraction then for insurance for me as an insurance company is you know you come to me or whoever's probably

providing the decentralized insurance product comes to me as an insurance company it says hey you know you've spent so much money a year just protecting his fraud while I can give

you an automatic contract that has been developed to the point where if this thing were to happen the data being sent to that contract will be secure it'll be reliable and it'll happen automatically so think about the implications of this

right if you have a contract or an insurance contract that's reliable and automatic if you get a card crash and the data being aggregated by the chain link network from like maybe a sensor in the car or whatever right something that

can provide data about the the situation that's happening if that data is being sent to an oracle Network that's you know then securing the data by aggregating it and like you know redundancy and all that stuff right and it sends that thing to the blockchain

and the smart contract the moment you get in a car crash that data gets sent to the blockchain the smart contract pays out your policy immediately imagine that imagine being in a car crash and automatically getting paid out the incident it happens right like yeah like

that that's exactly what we're dealing with here right and so if you're if that's kind of the example we have for insurance and there's there's hundreds of examples right but I like Insurance a lot because it's very applicable and it's a really good use case now what

does that do one it cuts your costs as a company because you don't have to rely on manual labor to ensure that there's not any fraud happening but two like imagine your customer experience with that like how long do we have to wait

for an insurance eclaim to be processed before we even see a cent right too long too long in this in this day and age I'll tell you that right too long and so in that sense you know if I say well you

know join my insurance company because you'll get paid immediately like yes please drop everything join this one insurance company and get paid immediately hell yeah I'll do that and so what's going to happen is once

there's kind of like a few you know major movers who adopt this technology right who are able to update and optimize their business end and their back end right then you know all the other insurance companies in that sector are gonna be like call their their teams

are like okay we need to adopt this by Thursday or we're all fired and we all go to business because it's just that much of a difference it's that much of a of a discrepancy of you know we are essentially operating on different systems at that point you know it's not

just like that yes that's an implication it's like yes you know this brings up this point of the fourth Industrial Revolution and I think it's kind of a buzzer but I know

right but there's at least a kernel at least a kernel of legitimacy to this idea that the fourth Industrial Revolution is coming and I think what what's happening you know with the other industrial revolutions you know manual labor was abstracted away here we're

abstracting away trust trust is this main component of the fourth Industrial Revolution when we abstract trust away then you abstract away the jobs that ensure that that trustfulness is secured so like third-party you know manager

third party like whatever's you know arbitrators whatever right those jobs kind of get displaced to us in a certain extent now it's not going to happen immediately I'm sure there's gonna be like transition periods or whatever but the main idea is that you know there

will be optimization and efficiencies that happen for jobs that are there for trust reasons right but if we're ever going to move forward with smart contracts and the value that they provide as we've seen with D5 you know

80 billion dollars locked up now then those that's just gonna happen that's just that's capitalism at work right efficiency are found they're made they're they're passed down to the consumer and the consumer loves it the businesses are happy because they're making more profit because they don't

have to pay as much money for their Antiquated back ends and the consumer is happy because they are getting their payouts immediately right so that's kind of like no it won't completely eliminate Insurance in bank companies but it will

optimize them to a very high degree that a new standard will be established a new standard will be established so that if you do not come and rise up to that standard then you're going to go out of business you know that's what happened

in previous industrial revolutions right so either new companies will come up and adopt it or the old companies will adopt it like whoever whoever gets there first is who's going to win yeah I would liken it very I mean there's not Perfect

Analogy but you know the internet in a way optimized business ends for online companies so like Amazon right Amazon makes most of its money through Amazon web services these days right like most

of their revenue is from providing internet sources from data that's not even verifiably true just you know like like chain link which verifies it right so there's there's kind of some parallels there between the internet and

like how that created and entire market and then blockchain and how this is even like refining that market this online market and refining it making it you know adding this element of trustlessness right that is going to

change you know various sectors forever so we talked quite a bit about disruptive innovation and Tech and AI in this group and the way that you you just

kind of spoke to link and how it's going to be revolutionizing things I mean that's essentially that's you have me viewing link very similar to AI at this point it's the type of thing where

people think that it's going to you know put all these jobs out of business Etc but the more realistic outcome is like we're going to be working alongside it but also that notion of like companies are either going to have to get on board

or they're going to get put out of business because it's efficiency it's ultimate scalability and ultimately that grows productivity and all these different things right in the capitalistic model yeah and I think it's

just a lot simpler than people because you know when you think of AI you think like okay artificial intelligence robots are gonna like around the world you know whatever but in in a sense it's actually just very simplistic it's just it's

automating a way just a very small but very crucial point of relationships and that's trust it's like if we can abstract just that tiny piece away it creates a huge Innovation you know with huge implications further than any of us

even understand like there's no way I grasp probably like two percent of what's actually like happening behind the scenes like this is me just scary based on the presentation

again like I I know people who they'll talk about chain link in like 90 of what they're what they say goes over my head like there's people who are so much more you know the right people then

right you want that obviously you want to be in circles who are smarter than you right so you can you can gain from them correct um that's kind of the the situation so in any case yeah any other

questions I had another question levels so I asked it way up there but I'll I'll just ask you now if link or a baseball

game what inning are we in in terms of going back to when you were breaking down the capped Supply growing demand growing value that's being captured by

the token if you had to give it an ending where we at so okay is this actually a very timely question because chain link just released their version two of their white paper recently and

we're at all-time highs yeah exactly right and so if I had to guess you know chain link has been having this Vision you know they've been executing on their Vision in various ways right they've been they've been

growing oh a white paper is essentially a plan for the the company moving forward like what they're planning on doing what products they're planning on releasing you know just like they're essentially their roadmap for what they're doing kind of like how in the

stock market companies can put out like 10ks forward guidance earnings like you don't have that for cryptos you read the white paper yeah essentially it's essentially what the team's telling you like this is what we're doing this is

how we're doing it right yeah that's what white paper is so because they just released this new white paper and they're they've kind of updated you know at least refined their vision and what they're doing and you know they've kind

of explained like things that they've implemented since then so like some of those functionalities I mentioned earlier like Deco vrf off chain reporting all that stuff right so these are all tools that chain link has been developing now for two years at least

and what's so great about the channeling Network right now is that these tools are almost to completion what what's really lacking to tie this whole thing together is staking is the reputation contract of you know of essentially

using the link to it because right now like if you think about it yes node operators are being paid in link right now by you know smart contracts that are using it or still missing the other half of you know they don't have to provide collateral yet because the staking

contract is not ready right but once that goes into full effect I guarantee you the amount of Link that's gonna be locked up in some of our contracts is going to be immediate we're going to see a huge effect because I would I would say I would say close to the to the

second inning at this point I believe I think we're getting very close to the student the final like kind of implementation of like the real kind of Economics are going to be kicking in very soon once taking goes live and so

if you think the reason being is because when staking goes live when you stick your link in a contract to provide collateral it takes out a circulating Supply so that that part of this chain link that's that's in the supply is gone

and so economics y'all brush up on it Supply goes down doesn't matter if the demand is the same but you know we already know the demand's going up so Supply goes down demand goes up press the asset appreciates right and is that

expected around June I've never been one of your time frames because the team doesn't give time frames okay so we don't know yeah actually I really love this about the chain link team they never announced

anything before it's ready you know when it's ready it's ready and they'll announce it when it's ready that's it so I love that because you know it doesn't create false expectations because again when you think about it why would you ever announce an announcement before it's ready well to Hype up your

community to get them to be excited about what's coming in the stock market yeah and so that what they're trying to do is affect price but what channel is doing is not about price it's about enabling all these smart contracts yeah got it got it cool so why would they ever announce anything before it's ready

because who are they trying to impress you know the retail not at all like merely already said we're not here to we're not really here to participate in the network it's for institutions and businesses right so those are the ones who need to know what's going on and

when they when it happens then they'll know but until that happens there's really no reason to announce anything and so yeah that's kind of my thoughts on that and yeah so I've had to give an inning probably like near the end of the

first inning because again we're getting close to uh this has been that this has been the the building out phase like we're creating the infrastructure right and then once it's all tied together we'll really get into the game they've still basically been getting Market

validation so yeah yeah that's if you want to look at it like a business you know it's like getting your first few customers and proving you can get results for them so very early um we have a question sent to me by

Daniel who wants to know how do you expect the IRS to start ensuring they get their slice of the pie yeah no that's a good question and I've been doing a it's actually funny you asked

that I had a discussion with someone recently he's in or he was he was head of a I think he's like one of the top tax firms in the nation and he was talking to me about you know just where

the IRS is moving what the regulation is and because he was like his specialty was crypto taxi like a crypto taxation he was very involved in in the governmental structure both you know State and National about like where this

is moving right and so I've been doing my own researching on it as well like there's different initiatives that the RS are launching such as you know like he was like called like operation treasure hunters or whatever you know

but yes so there is regulation coming around you know I've talked to people I know some investors who are like well I'm just not going to report it on my IRS returns and you know how will they know because it's on a ledger and they

can't find me right you know there's there's risks involved with both ways for me I'm not going to be trying to you know hide anything I don't I don't need that stress of having to look over my shoulder and being like is they are just going to find out I have any

cryptocurrency I mean to be honest with you it's going to be pretty easy to find out you know if you sell an asset you have there's a record of it you know some like random person you can kind of pull the wall or this is the government

right they're not going to stop at they're going to stop pretty much at nothing to make sure they're getting what they need and so regulation is fast approaching I would not mess personally I would not mess with these people and they know what they're doing they're

they're trained professionals they're gonna get what they want and so really all you can do is comply and as much as I hate it you know I hate the you know I I'm more libertarian myself so I'm more

on the side of you know Taxation and staff not probably sad degree but I'm very libertarian well here yeah um but I'm also not an idiot I'm not going to try and do anything that can

cost me long term in either penalties or jail time or whatever it is right so I don't underestimate their prowess I don't underestimate their resources are they currently not taxing crypto so

right now they are they're asking 2018 like what were they doing 2019. yeah

again so well I think now it's very well established but during the bear Market of 2017 28 or I guess like 2018 2019 you know I think at that point they probably saw it as a bubble you know to an extent

after everything deflated and you know it went back to normal they're like okay yeah it was just a bubble you know it's not a big deal but now again with the actual like use cases that are coming with the institutional rise of these different sectors being disrupted there

is very little chance that they're not just gonna take this seriously now right so if I had to give advice I would definitely create a basis for your taxes you know understand how much you have to owe what you're not going to owe you

know there's different tools out there token tax is a great one you can pretty much just hook up your accounts or your wallets to the software and they'll run analysis for you so much see how much you have to pay that kind of thing so there's it's not impossible it's not you

know too difficult really there's a lot of resources out there to help help you with your taxes in crypto but you know this year they started asking you know on the tax returns you know do you own crypto yeah yeah so it's like they're

coming for it it's not a secret so don't get caught on the wrong side of that when it comes yeah my tax ladies little email signature now says uh servicing Bitcoin and ethereum or something like

that yeah I'm like what the hell she worked for the IRS for 15 years so yeah as well yeah yeah yeah so cool so magical internet money yeah it is kind

of weird because a lot of people like you know I just want the traditional coinbase route but in like through the us but a lot of people are using vpns and they're doing that whole route right

so I could imagine there's many many loopholes here where people are buying things under hidden IP addresses not

linked to any personal information and Etc et cetera and in my mind like you know you can try and do that and if you're successful great on you was it worth the f shirt I hope so was it worth right right having the stress of having

to look over your shoulder I hope so right that's not gonna be that way yeah yeah yeah of course I just want to give people a full perspective so why don't you just give us some Basics what are

your um preferred crypto brokerages any helpful apps or websites that you'd like to put us onto for more of a beginner intermediate level yeah definitely so I would definitely break it down into like

kind of beginner intermediate Advanced kind of thing so you know if I were just getting into crypto I think coinbase is just the simplest way to do it you know it's already verified it's already been approved by you know the government and

all that so if you're just getting into it I think coinbase is a really easy way they're professional they do what they do well you know that's kind of thing it has its drawbacks like again we've talked about it's being a centralized company right so they're going to get

their cut of whatever the middlemen they kind of control your assets if you leave them on there right so there's definitely cons in terms of like you don't have as much Freedom if you're working with them but if you're just getting into it definitely the easiest way to go is they're like coinbase

there's other essentialized exchanges binance you know that kind stuff but I think the most trustworthy and the most established would be coinbase so if you're just getting into it coinbase would be a good one if you're looking to go a little deeper to decentralize

finance and you're looking to start using these protocols that I've been talking about like Ave you can't really do that from coinbase you have to do it from a ledger or a hot wall or whatever so if you're starting to kind of like finally like okay I want to dip my toes

into like decentralized Finance I want to start earning some yield right I want to kind of get involved in this you have to you know get your own wallet and you have to transfer your assets from coinbase or wherever they're on to your wallet and then once you have it kind of

full control of your assets then you can start digging into D5 and all that stuff and you know for that there is definitely a technical barrier right this is why it's more advanced because you kind of have to know how to handle a wallet you have to know how to use

metamask these different applications that are kind of esoteric it's kind of hard to get into if you've never done it before and you know but once you do that you want to get over that hurdle then you start engaging and start in these protocols which are paying quite a lot

to actually have liquidity providers you know I'm earning us upwards of 60 on one of my deposits in a differentialized protocol that needs liquidity because they're just they're trying to boost up in a network and they're doing a program

right so they'll pay extra for people to provide liquidity so it's a great way to earn passive income if you know how to do it otherwise you know I would stick probably with the basics until you kind of get a good good handle with that so so quite a few of us do have the

external external wallet and we are familiar with kind of like yield farming and such yeah is that that's what you're referencing basically so metamask this is what you use yeah

this is going to be a stupid question do you access this through the internet like is this a website like how do you know what I'm saying is this a software what is this so yeah let me kind of break it down a little bit just kind of

different elements in play so you know what we kind of like what we're talking about here when we're talking about like Hardware wallets like Nano trezor whatever your preference is what you're kind of doing is that your currency actually isn't really stored on this

wallet I think there's a misconception that like your money's in this little device you know it's kind of sort on there what a ledger actually is is it's really just an encryption device right and so what it does is like your money is stored on the ethereum blockchain

right so I'm a blockchain and your Ledger is your key it's just an encryption device right so if you have your Ledger you can confirm transactions but there's no like transferring my money from this device to a protocol

it's just an encryption device and so in that sense it's just a key right and so when there's a question like what protocols I use or like how I'm interacting with it my question was basically like about metamask or

whatever like how okay yeah so what the hell so yeah the way I use metamask so there's different ways to use metamask I know people who like actually keeping their funds in the metamask software for me I really just use metamask as an

interfacing tool right and so I have chain link and I have other assets on my wallet and to interact with defy though and like you know Ave or bancor some of these other protocols what I'll do is

I'll connect my ledger to the metamask software it's an extension on Chrome it's pretty easy to download and you know you can it's like an option where you can import your wallet to the to the software and so my funds are still

encrypted in my wallet but anytime I want to interact with defy I'll confirm my mic on my ledger that I want to do a transaction and that'll pull up a a metamask tab which will make me you know confirm on metamask and so metamask kind

of acts as a bridge between my wallet and D5 because if you're trying to get just directly from your wallet to the application itself it's actually pretty difficult so metamask is just kind of like the grease that kind of makes everything smoother and so for me I

never really store any funds on metamask because I think you know if it's not in my wallet I'm probably a little more concerned right as long as it's you know for Cold Storage right but metamask is a great way that's really kind of user friendly it's a great way to kind of

bridge this gap between trying to use these decentralized protocols but still have your funds in your cold wallet right so that's kind of the main idea there awesome so when you say you're earning like 60 on a specific project

what kind of time frame is that over so it's yearly API 60 a year so that's it's crazy right and so it's not like you know there's definitely a spectrum to the stuff right if you think back to

last summer there's this I don't know if anyone hit was here in D5 last summer but last summer there was these crazy like outrageous apis from like hundreds to thousands of percent right a year yeah

sometimes like five figure percentages and what we all quickly found out is that's unsustainable it all collapsed you know I think it was like mostly toes were named after like food so it was like spaghetti token and like nacho token just like all these random stuff

that like no one actually used a few of them stuck around like sushi swap I think that's one that kind of stuck around a little bit did he freeze for you guys yeah okay oh he's gone are you there Richard he's still here on my end

just Frozen yeah yeah he's there sorry yeah I can hear you all right cool yeah yeah you're good now just uh repeat maybe the last few sentences sure so they don't want us to hear this info

just saying zoom's a publicly traded company y'all don't sleep so so you know some of these protocols last summer were just like promising exorbitant amounts and you know the devs kind of just like once they had the money and then their

protocol they kind of pulled the plug and took all their money right so there's always a balance between what you could be earning and the risk you know there's always gonna be this balance and one of the factors is like you know how technically you know savvy are you can you actually do this stuff

like it's kind of complicated sometimes so what I found is bancor which is what I used to earn my apky was a perfect balance between user friendliness risk adjustment and earnings like it kind of met all three of my criteria pretty well

right and so the reason I felt so secure is because it's the biggest amm which stands for automated money market right so it's kind of like a decentralized exchange almost and so it was it had lasted the longest also another criteria I always evaluate are they using chain

link if the answer is no to that question I will never purchase I'll never use any protocol that doesn't use chain link right because it's just not if the data is not secure then the protocol is not secure right it's an attack vector and so they use chain link

the museum for a while you know there's a good team I looked in the team Nate Hinman really smart guy I think he's like he's either the chief technology officer the CEO of bancor talked to him a few times he's a great guy listened in

on his q a sessions or whatever his his you know Community calls whatever um really good guy and so I trusted him I trusted his team and the way that they kind of went about money markets was really Innovative

um so things like uni Swap and other protocols were really complicated to use they didn't protect against certain risks like impermanent loss which is a kind of an esoteric but like really important thing to understand for providing liquidity so there's just kind

of all these different risk factors and you know technical hurdles I was like okay I kind of want to start earning yield but like is it really worth it you know am I supposed to this risk I'm exposed to you know Titan goal issues

like and so for me when I found bancor I was like okay so this is finally kind of checking a lot of boxes and making it easy for me to just kind of stake it and forget about it right and just earn yield right and so they have a really ingenious model they've been working on

a lot of things recently to improve their user and they just I think they just recently started they just initiated this thing called xbnt which essentially allows you to it's like a protocol that automatically restates

your rewards when like it's been like it doesn't cost gas to do it which is like gas is like the operating cost for using D5 right and so they're innovating constantly the team's great they're far outstripping any competition I've seen

in the space for you know months and months and so bancor is the one I use for that it earned me a decent amount of yield so I'm happy with it so for us

noobs you're saying that you're using metamask and bancor on top of that those aren't competitors or the same thing yeah I'll thank you for pointing that out I'll explain it again so it's almost

like a stack right so I have my ledger has my assets on it right and then metamask acts as a gateway to use bancor right so Ledger metamask bancor and so I interact with bancor using uh metamask

which makes it easy for me to do so yeah you need the process smoother right so they're not competitive they don't even do the same thing so okay okay you need metamask or something like that to access something like bancor yeah exactly well you don't need it but it

makes it a lot easier to do that it saves a lot of headaches so Bangor is where you're going to actually go shopping yeah exactly okay so that's like where the actual Marketplace is

metamask what would you say in one sentence what is the value proposition I don't know um safety so here's the thing about metamask is like it's you know unlike

chain link which has a token which incentivizes you know the building and securing the network metamax doesn't have a token it's just a tool right so it's not something really you can invest in it's just like some open source code

and some open source tools that someone made to make interacting with defy easier right right I didn't mean it that way oh no I answered it I was just saying an investor speak but what I'm actually asking is what the the

point what does it do and you just said it so it just makes it easier fast yeah exactly it's just that and I think I think yeah exactly and I think we're gonna see a lot of this stuff in the coming years just like kind of lowering

the barrier to entry you know as the barrier gets lower the yields will be lower because more people will be doing it right yep but until you know you have to find the balance of like okay can I actually do this and you know I can't get in early enough to make some good

yield off of this right right because like I'm telling you 60 is not gonna be sustainable for very long maybe a year but like yeah the guy we had on he was breaking down like you know he was kind of hesitant to give us numbers because

he does this at like a hedge fund level but he was basically like yeah like well over 100 but like I can't really talk about some of that and it's like much higher risk and all that so exactly I just wanted to hear from you like what

kind of range because like you said I've heard of over a thousand percent and I've heard you know like coinbase or Voyager will give you you know four percent and it's like yeah exactly we're probably looking for

somewhere in between where it's like exactly beating the s p and NASDAQ right but it's not very risky right so you know for many people it's like 20 with

very low risk that's like a dream right yeah in the chat too it's like the native token of bancor on the bancor protocol is going to have a higher yield because they want that liquidity

provided in the protocol so they can balance out the ether link or whatever the other side of that specific pool is oh okay because if people only deposit link then there's no b t provided in

that pool for the swaps so people wanted to swap a link for BNT and there's no BNT in that pool they can't do that so what do they offer they have a couple dozen tokens I don't it depends eth link

snx oh maybe I misunderstood what you're saying I thought you're saying that if you get the bancor token or whatever that'll pay you out the highest interest right so that's the thing

so it depends on the pool it depends like generally for a higher volume of swaps pool the percentage might be a little bit lower because the volume is

there for the lower volume pools and less trades made in that pool the percentage might be a little bit higher so for like the link BNT or the East BNT pool I believe the B and T side of the

yield rewards is about 60 um and then the E through the link side is going to be a little bit lower because that's obviously not the native token right yeah okay so I feel like a lot like confusion and like just like

kind of understanding how this stuff works I'm gonna like put my email really quick in the thing I do like individual Consulting sessions as well so like cool I can on like a more personal basis I can actually like we can sit down for maybe 30 minutes an hour and I can

explain like how this stuff works show you how to do it and get you earning some yields so yeah you have some uh some piping hot leads I was gonna ask you that at the end but yeah whatever it

is my email and then we can set up an appointment and do some stuff and so yeah cool man yeah a lot of us are trying to get on there's definitely a barrier to entry I mean you got to think about it like these aren't like business

men who understand like they're not economists or capitalists who make this right it's like coders who probably are speak a very different language from the

average person so I've noticed yeah I'll tell you what like I've been in the space for two years I've been following it closely and like even I like every day like I'll come across something I'm like what does this leave like how does this work like what does this mean and

it's just the fact that I've been in it for so long that like things start to connect and like you know things like slowly it becomes a little Network so the way I'm able to talk about channeling today like is purely because I've been studying it every day for like the past two years it starts with words

you got to study the words you have to understand what the are they even saying right no I spend more time researching blockchain than actually doing school at this point so as you should as you should by the way exactly

so it's uh the future versus the past but we won't get into that I don't know what you're studying but yeah anyways so if anyone has any like further questions they want a personalized Consulting session we'll

set up an appointment barwell here let me see if I can pin that no I can't R well726 gmail.com so I did want to ask I saw someone else ask it as well I just

want it reiterated for myself often potentially others so when you're talking about staking and all this different stuff in the examples you were giving for example on bancor et cetera et cetera are you talking about

specifically staking link or are you talking about stable coins or is it both good question so you can stake link well I say that there's the way the protocol

works it's very hard to stake anything other than BNT for one reason and that's because in order for you to stake a corresponding asset into a pool with BNT there has to be enough BNT in the pool to like open up space for the link

because it has to be like one thing right yeah yes playing man kind of yeah yeah and so there's there's like there's Bots and stuff on Twitter that tell you like spaces just opened up in the link pool like everyone floods in like says

you know shows the link in there it goes in minutes it's like an auction it really does and so it's like you can stake other assets but you have to wait for space to open up in the pool but there's always more space for BNT

because it's the native token yeah well I personally I only stake BNT but more than just the fact that you know there's hard to get space in there for like link or something to me the staking mechanism in link like the network that chain link

is going to be you know using once second goes live to me this can be a lot more lucrative than vancore for me bancor is like a I'm doing this in the meantime kind of thing you know with BNT which I have a little small stack of and it's kind of earning me just a little

bit just kind of play with it you know like earn a little bit of passive income see how it works how do I like it is it easy is it frustrating you know does it giving me a headache you know so far it's been very good it's been very easy it's very very painless for me to do and

so I personally don't want to stake any Link in bancor just because I don't want to be tied up in this protocol when chain Link's taking is was live and be like oh no I gotta like you know wait for a certain period to draw These funds and like you know it's just that would

be more of a headache for me so I'm a little more conservative when it comes to staking anything in bancor I purely just take BNT because that's what it's for in that protocol so okay so another

new question so in what you just said your step one you have to go buy bancor in order to stake it it's not like you can just go yo I'm putting a thousand

dollars down and I want my return it's like no no you have to buy the asset in order to then lend it out right and yeah and this is kind of where the difficulty comes in it's like well you need bancor to stake it you also need ethereum for

gas because every transaction you do on the blockchain takes gas right so it can be expensive times and so this is what I'm talking about barrier to entry like they haven't optimized this stuff yet like blockchain is still very nascent they're still trying to work on

solutions to lower the cost and then they have any rois isn't it yeah so like it may up front of me like oh I can like earn a really good percentage on this well how much are you staking is it gonna be worth the cost up front to

stake it right you know so I've remembered times where I like so I have this rule so I call it the 10 rule where if what I'm staking in the protocol is any the fee to stake it is more than 10 of what I'm actually depositing I don't

do it because it's just it's the cost benefit's not there for me right sure yeah so if I'm staking a thousand dollars they cost me 300 to do the transaction I'm not gonna do it because it's just not working so there's

definitely like you know you have to and I learned this stuff through mistakes right I just I learned these mistakes by just doing them I didn't have anyone to teach me so I just kind of hopped Into the Fire and just started doing it and

so honestly it is and so yeah like yes there's there's great rewards out there to be have there's great yield you just have to consider things like how long do my assets have to be in the protocol how much is it going to take me to actually do this all these transactions how much gas is it going to cost me all these

things so it's like whenever I'm talking to someone about staking stuff I'll be like okay so how much are you trying to put in and how much will it take for you to earn back what you're spending in gas because it's going to take you know five months is it really worth it for you to

spend as much money just to earn like purchase a break even five months later right so you kind of have to evaluate these things before you move forward and I wish I on that when I first started but yeah well thankfully gas prices have

gone down a lot like I remember two and a half months ago I was trying to stake my BNT and I think the the gas price to stake it at one point I didn't go through with it but because it lets you verify do you want to pay this much in

gas fees yes or no and I remember there was one time I tried to stake it and the gas fee was like 450 it was ridiculous but now I think that Gatsby generally from what I've seen ranges around

depending on the time of day because it depends on the um congestion of the network so generally around 8 30 9 o'clock at night my time is the cheapest but that time it's usually between 30

and 50 bucks usually so it's way less like a crypto transaction yeah there's a little bit like I think another like maybe 15 or 20 for the staking itself fee but then the gas fees is 30 to 50

dollars so now I want to ask about if 2.0 because I don't know much about it at all but my lovely old coinbase because I own a bit of ethereum and it's

always talking about you know signing up for the wait list or whatever because 2.0 is coming et cetera et cetera and from the little bit that I have heard about 2.0 one of the things I keep

hearing about the anticipated value is that it's going to greatly reduce gas prices is this true yeah so with a mechanism that they're talking about when it comes to etherium 2.0 is this

idea it's called sharding so charting did you say that again yeah Mark yeah sharding with the D okay all right so

it's essentially based off this idea of shards and it's kind of uh yeah I know it's a great term great I love it and so what they're trying to do with sharding

is they're trying to essentially kind of distribute and like pocket like certain areas of the blockchain in kind of simple way they're trying to distribute the congestion kind of is the idea and you know I personally don't know a lot

about it either I haven't been really researching ethereum too much um I think you know it's a great base layer but there's also great side chains out there that help reduce it there I think this idea of ethereum 2.0 being

that be all end-all of reducing gas costs and like bringing scalability is actually kind of a false narrative because there's so many different like Solutions out there that are working on the exact same thing that work on ethereum right it's like you think like

polka dot which actually has side chains on the ethereum blockchain that kind of does the same thing that sharding does right and so it's kind of like it's the same concept but ethereum's not the only one working on it there's plenty of different solutions out there and so I

hope ethereum 2.0 solves a lot of these issues I would you know that'd be amazing right I want my guest house to go down just as much as the next guy but they're not the only ones working on it so I wouldn't put all my faith in doing 2.0 right okay that's interesting yeah

so ethereum has quite a few competitors I have heard polka dot mentioned so that's obviously something investors should consider right just like in the stock market we want to know who our competition is who has the biggest moat

et cetera so with link obviously you're very link focused is link the only cryptocurrency you're invested in outside of staking no there's one more

it's kind of a smaller hold I have I don't feel comfortable enough sharing it just because it's riskier yeah yeah you don't have to I was just curious if you're like solely on it or not so yeah

so I'll say this about and of course he uh pauses out they don't want us to know they don't want us to win [Laughter] all right you're back you're back they

don't want us to win so they paused you but so again my main criteria are you know I have Catherine Chris here before I invest in any project besides chain Linker obviously so one do they use

chain link right two what's the team who are they what have they done in the space you know are they legitimate are they veterans you know and then three how well are they executing on their plan because anyone can put out a white paper anyone can make promises but

unless they're actually executing and accruing value then it's not worth it right so yeah that's it's just for me like my other Investments I have a certain philosophy on them and I go through probably hundreds of tokens over

I've been been through hundreds of tokens over the past two years and only two of them have ever satisfied those criteria for me so cool yeah you're this

is by far the most technical breakdown I can tell like in the investing world in the stock market you have you know your typical fundamental investors who are typically like value investors you have your growth investors then you have your

people who maybe came from like Forex or whatever it may be and those are more like technical investors you seem to be like heavily based on like the actual

intricacies of the technology versus so that's first and then you're like okay I'm investing second whereas most people are like how do I make a buck okay I'm gonna learn this thing yeah and I'll tell you why because you know it's a

different game right investing in trading they're different games they have different goals you know different time frames but if you really think about it you know if you're trying to play a trading game as an investor you know one that's a contradiction but two

if you're trying to trade as an investor or you're trying to make a quick buck as an investor what you're going to end up doing is you're going to be buying assets that you have no conviction in right and yeah and when you do that you

know maybe okay maybe you'll make some money but the moment it starts dropping 20 30 40 then you're going to start panicking because you have no idea what you're holding right Jeremy's like this

exactly what I say every week no exactly and so for me I've I've been holding chain link for over two years now I've dealt with 50 to 60 drops several times

it sounds like Tesla you just buckle up and hang on for the ride exactly exactly and so I mean you can you can look at the chart you know we had those moves those up and downs but again if you understand the fundamentals of ysf going

to appreciate and it's you know obviously you want to see some results right and we have a chain link proportionately but in those times where it's turbulent and most people are Panic selling their assets because they don't understand what they're holding that's

when you know the research comes in that's where your confidence comes because when you understand what it's doing and who's working on it how well they're executing if nothing has changed with the fundamentals then price should never be a reason to sell if something

does say that again yeah so if nothing has changed with the fundamentals of a project if the reason you invested is still the same and nothing's changed then there's no reason to sell when the price changes right if something has changed with the fundamentals if there's

been a hack with the system if someone you know left the team because of you know some whatever reason then that's an issue and you want to reevaluate your risk at that point and make a decision but if nothing has changed except for

the price then there's no reason to make any Financial moves because of that mm-hmm 100 Richard's the one like whenever when I was not super hadn't done as much research in chain link but was still invested in chain link and I'd

like say something about the price he'd be like why are you worried about Bryce why are you even looking at Price doesn't matter I was like you're right yes and it speaks to something extremely

important like obviously you're focused in the crypto space and we're usually in this group we basically trade options typically more on the long term I'm very much so in resonance with what you're saying I consider myself an investor

versus a Trader I don't like the whole short-term get rich quick mindset but there's this notion that people confuse stock price with the company and they're

completely different things so I'm always teaching how to understand the company at such a level of certainty that you have unwavering conviction regardless of how stupid or emotional

the market is being regardless of political conditions regardless of fear uncertainty doubt whatever's going on you have conviction in the company and that isn't always going to be reflected

in the stock price so I'm glad to hear that's exactly how it is in the crypto space yep no I mean you know you think about these economic Concepts haven't changed you know they're still the same

people still invest emotionally there's still Cycles to the stuff you know the psychology of the human investor has not changed at all uh what's what has changed is just the opportunity to take advantage of this technology and you

know to beat out those people who are you know investing emotionally right right and so the way we do that is by researching and understanding what we're investing in and so you know you take 30 minutes to look into Doge and you're

gonna be like there's nothing here you know there's nothing here invest on nothing here to invest on fundamentally you know like you look at what the Creator is meant it to be they literally meant it to be a joke a meme coin

exactly and so people who are investing to try and make it quick right they'll invest in there and maybe they'll make some money like I have friends these are huge Returns on IG that people should not be uh glamorous and you know what I say to those people I'm like

congratulations you're beating the system right now but I guarantee you unless you change your investing strategy and you think this is just going to keep going up and up and up you're going to be burned it's exactly what happened in 2017 2018. people

invested in a bunch of projects that had no promise they didn't research what they were they just thought they were going up and then it crashed and burned and I think what we're going to see is is we're going to see another kind of wave of that but it's gonna be more selective we're going to see the

projects that are actually securing value this time around those are going to be the ones that are kind of raking in the main the main you know returns but you know there will still be those those coins that you know make some returns and people are going to be happy

with that but unless they actually like roll those profits into either a stable coin or into another product that actually has any value then they're going to be sorely uh burned right

versus investing a funny side note for anyone who knows who Meek Mill is he just bought Dogecoin yesterday or today at the very top and he posted it on social media and said I can't take it

anymore I bought Doge and he bought like above a dollar which is hilarious if you know where it started at like yeah the level of financial literacy is not existing yeah

yeah 19 Keys shouted him out yeah tomorrow Richard do you see any problem in the future because of all these coins and like all these like

meme points I guess you could say like would that cause any type of problem in the legitimacy of any type of cryptocurrency that's a good question you know people are always concerned about this idea that like there's always

going to be coins that are dragging down the image of crypto as a whole and you know to an extent we had that right we had that in 2017 2018 there was this huge bubble pop people lost faith in the whole space but you know let's look into

the crypto like the.com bubble right of the early internet you know the internet came a bunch of people people started making domains and like selling making companies based on the internet and like you know the technology was promising but it hadn't been built the

infrastructure had been built out enough to actually support these new use cases right and so people got super excited over it they started buying all this stuff and all these companies that were based on the internet and you know 99 unveiled because the the infrastructure

wasn't built out yet right so it fell you know it popped the prices of all these things just died right the companies just died and then what happened a few years later right well the internet is what it is today you know it's no longer a fax machine it's

no longer messaging through email it's no longer like message boards it's we can do Commerce here we can transact value at a meaningful level right and so is this going to tarnish the space I mean sure to an extent for a time it

will it happened in 2017 2018. I think

it'll happen probably to a lesser extent this time just because there is more that's actually going on here the infrastructure is being built out mainly through chain link and other projects but I'm sure there's going to be another bubble pop soon I just think it'll be

less so and then eventually we'll just finally just completely outstrip this by you know the fund vessels like rising to where they are today we're gonna have a e-commerce level you know explosion of blockchain you know that we had with the

internet right it's going to happen at some point would you consider when you're speaking of these Concepts is this going to be internet 3.0 is that what they mean when they talk about this stuff yeah for my understanding and

smart contracts yeah internet 3.0 the main idea behind like web 3.0 is this idea that you know whatever data is on the web 3.0 it has been truthfully verified by the blockchain by chain

links Network right and so it's like you know you're gonna have essentially a more trustable internet right so like you don't have to worry about where the source of Wikipedia thing came from because it's going to be verified right

it really just kind of eliminates these you know false positives that would be there like it just it eliminates misconceptions it eliminates you know false information and it's going to make things more efficient essentially that to the extent of my knowledge that's

what it is I'm not very well versed in web3 I've seen it in various places over the years but that's kind of the main idea I think but that's pretty much all I have on that okay cool I always appreciate someone who uh you know stays in their Lane and speaks to what they

know and not doesn't try to most people would try to give answers for things they don't really know about no again I have no benefit in doing so I you know I'm doing what I'm doing because I know it well but I'm not

trying to work today in here so yeah so I want to highlight something you spoke to and that's this concept which you know I just had to give a little bit of a benediction and uh we have like a

slack community and for those of you who are called my little uh my little rant I think it was two days ago you know because most of us are Tech and growth investors we're investing in disruptive innovation cryptocurrencies are one type

of disruptive innovation but we're also invested in companies like Tesla Square companies that are going to be you know leading the way five ten years from now right in the new world and the tech

sector has been getting pummeled some of our positions have pulled back as much as like 40 right and I've noticed a lot of people in the group have their tail between their legs and whereas other

asset classes right now are booming that do not deserve to be booming is that a coincidence I'll leave that up to you but where I'm going with this is you spoke to something very important that's

kind of like when The Tide Rises all of the ships tend to rise but then when the tide goes back down if you're in one of those positions that was more speculative and you didn't have sound

fundamentals it doesn't have a sound value proposition that might get completely wiped out like in the 2000 Tech bubble right or I'm sure we're gonna see this with things like Dogecoin

like the value isn't there so if you're in it and you wrote it up congrats but when it comes back down it could very well go to zero or go to a level you would not like right whereas let's say

you're in something like link when crypto pulls back of course it's going to pull back but the same thing isn't going to happen to something like link that has a real value proposition right so to apply it to the stock market

because many of us are in options positions it's the same thing when things pull back yes Tesla will get rocked I mean it pulls Back 40 percent arkk pulled back 40 percent huge Corrections because these are volatile

growth stocks but you will not not see these companies trending down on a five-year chart you just won't because sooner or later money flows back to

companies that provide real value so I just thought that I would kind of link that together pun intended for those of you you know because I love when someone else from a completely different world is talking and the concepts overlap so I

just wanted to mention that and if I may the uh I love what you just said because during the bear Market you know the bear Market of crypto chain link was the best performing asset in the bear Market

three years running of 2018 2019 2020.

it beat out every other cryptocurrency in terms of appreciation in the bear Market wow um and if that's not a testament to what it can do then I don't know what it is because you know people talk about even in today's you know bull market they're like oh chain Link's

underperforming like compared to everything else it's like well one there's probably a reason for that because now that all the normies and all these people who are just not a part of the space are coming in of course they're made attracted to the things that are pumping and like they're shiny

right you know going off really fast and like link is kind of being surprise it's my theory that's being suppressed because I don't want people to buy it because it's the real gem you know that's more conspiracy but that's just kind of a little thought but if you look

at the history of chain link you know it's performed best in the bear market and so yes it hasn't really appreciated as much in the bull market compared to other assets that are shooting up but again look at the fundamentals see what it's done in the past look at the chart

for crying out loud you're not gonna find a better three year chart in any crypto asset I promise you it was two dollars not that long ago it was like a dollar 40. man yeah like it was a year

dollar 40. man yeah like it was a year that long ago two not alone at all when you're looking at it you're like it's having trouble breaking 40 and 50 like you have to realize where it started

like that is a crazy 25 to 50x and if you really think about it like if that's how well it's done in the bear Market you know it's only a matter of time where until it finally breaks out in this bull market once the value starts

to shift away from these coins and we actually start to see it flow back into the real projects like it's stuff like chain link that's actually gonna like explode in my opinion the reason it did so well in the bear Market is

because the space of blockchain the space of smart contracts continued to grow and you can't use those without chain link so it doesn't matter if retail investors are doing anything or

not doing anything like as long as the industry of blockchain and crypto is continuing to grow you know behind the scenes or not it's still going to continue to appreciate because it's

still getting still getting used yeah so again the concepts are similar traditional markets it's just a new game you just have to kind of know who the players are you know who's actually making a difference and go from there

but yeah that's kind of a good overview I think cool any final question for Sir Richard I know do you have a question for Sir Richard but okay cool we got

Peter and then Chris so two quick questions one would be this might be a silly question but is there any other current like cryptocurrency that's competing with link like doing

the same type of good question I wanted to ask that yeah yeah it's a great question so the there have been competitors in the past so I after researching the space for two years and

looking at every other competitor to chain link it's there's no competition that's legitimate at all with there's been you know centralized Oracle Solutions which we already explained where they're a problem right you know

there's been you know solutions that have none of the infrastructure or the tools you know when we're talking about infrastructure by the way when we're talking about like tokens or or you know companies that are focused on building out infrastructure it's different from

application layer stuff you know you think of of applications they're very competitive you know like insurance applications whatever Finance applications they're always going to be competing and trying to get market share but infrastructure is different you know

think of the internet like we don't use multiple Internets the infrastructure for the internet is one thing we have https we have t TLS you know SSL these security protocols that are built into the internet that we use we don't even

know about it right chain Link's that kind of asset it's an asset that you're going to use without even knowing you're using it because it secures everything on the back end it's not meant to be flashy it does what it's supposed to do

to enable people this space right and so as an infrastructure project right it's the winner take all thing you know and just like I said because there's only one internet is a few set of protocols that we use and so is there competition

there's stuff that tries to be competition in fact literally today actually I was researching and literally today there was this protocol called Venus protocol and they just put a proposal out to their Community it's like we're gonna try and switch from

band which is a competitor to chain link because they're the market Oracle and you know band is inferior like literally they were using band and now they're switching to chain link because it's just so much better and that's happened dozens and dozens of times and what ends

up happening is what you get is called a network effect where you essentially the bigger your network grows the more reach it has and the faster it can grow because of that right so you it's essentially like I said it sounds like

economies of scale exactly yeah I don't know if you guys have ever heard of the uh the concept it's called um it's called something but the idea is you know the more participants you have in a network and each you know participants

connected to each other it's like a it's an exponential kind of growth curve so the more participants you have within the network the faster it grows essentially the flight so worth it huh are you talking about the flywheel effect yeah something like that along

those lines it's just like a it's an exponential growth because you know once you're like kind of leading a market right and chain link was the first mover had the first movie advantage had the best Minds in the space again you know just really kind of Drew in this

industry and so now it's already established as the industry standard right because everyone's using it and securing their data with it because that's the best one right people will continue to use it and so you know more data providers will come to the network

because they want to sell their data for chain link more use cases and smart contracts you know developers will use it for their smart contracts because they provide the best data for all these different data fires so it really is kind of this this effect where this is

positive feedback loop where once you kind of have that market share and you have that dominance it's very very hard to break it and anything I've seen that's even like tried to break it has failed miserably like in my opinion it

is the safest bet for the space right now solid uh so the second question really quick was uh going back to like the insurance industry I know that there's a ton of money in the

insurance industry and eventually they're going to have to use something like link coin to make these smart contracts five trillion from what the predictions I've heard say a five minute five trillion dollar industry yes yeah

Nationwide alone if they had everybody put in a claim and basically yeah if everybody had a claim and they had to pay them out they could pay it out I believe it's like four to five times

which is insane but anyways yeah so say they start like Nationwide alone just switches over to Smart contracts and they start using link I'm guessing that would just make it Skyrocket correct well yeah I think like the

concept I mentioned earlier it's like if Nationwide security is like 500 billion dollars in value let's just say for example's sake that is now 500 billion dollars of additional value secured by the chain link Network right and so what does the token price have to do to

compensate for the collateral right to be able to secure these kinds of big contracts right it has to appreciate because there's never going to be any more link than there already is at one billion right so we can't just print more to compensate to have enough

Capital liquidity no the price has to appreciate to be able to actually secure and collateralize this value that's being injected from the insurance industry right so yes that the price would reflect the the growth of the

network uh the token price reflect the growth of the network by securing this new industry right and so it's insurance is a really big one and there's others too so yeah yeah that's crazy so many

use cases yeah it kind of reminds me of like Tesla's my largest holding no one in this group will be shocked to hear that but one of the reasons why I'm able to have so much certainty in them is

because people think that they're a car company but they're literally a car company a battery company a Solar Company an insurance company a software company a hardware company they're going

to be a ride hailing company an autonomous company so that's eight right there and they're also at the level and have the influence to wear whatever they want to create in the future they can so

it's hard to imagine that losing and this is why like the valuation of Tesla greatly does not do do it justice from where it's at even if it were at a thousand right now doesn't do it justice

because it's being valued as if it's a car company and I'm hearing this very similar things in link it has so many different use cases and when you just named like the insurance space alone

that's one little tiny sliver of a use case that's 5 trillion if you can wrap your head around just getting a cent per transaction or whatever like come on guys that's one

use case it's at 50 bucks right now it was at 20 30 bucks a few months ago no exactly he's completely right and it's more than just the use cases again it's

like when you're able to provide you know services that Pharr C just price data and like all these you know the many many different tools that it provides developers it's literally helping developers write their smart contract it's not even just like you

know companies are implementing chain link into their back end but more than that because chain link is such a like household name in this space at this point like developers like we recently just had a chain link hackathon which is like a developer conference like for a

month people were building uh smart contracts using chain link exclusively right so now we're starting to see that developers are intrinsically as they're building their products using chain link as a fundamental part of it right so yes

there are companies like Legacy companies you know there are implementing chain link into their back end and trying to like you know update some of their back end to do it which actually is very easy because of chain link just makes it really easy to do so so they can like literally just have

them like sell their data or like start a node and they can you know do whatever right but you know we're starting to see that you know the way we say like you know let's Google something like Google something on the Internet like you know we don't use let's search the internet for something let's just Google it right

in the same way it's like let's just chain link the contract like you know you just it should be an intrinsic part of smart contracts because it's just so necessary for it to actually gain adoption and so once the larger market

realizes this chain link is going to be built into whatever is being built with smart contracts at a very fundamental and intrinsic level like Drop mic drop

all right y'all Chris you got one last question to end this off and then uh yeah we will formally Knight Sir Richard and send them one as well I got two questions but I'm pretty sure there'll be short answers and this is a serious

question so I know it sounds kind of comical but I'm really serious if porn sites decided to have their own currency which they kind of do now what do you think that that would actually become something the reason why I asked that is because in the internet when the

internet first came out it almost didn't make it porn pornography is actually would save the internet so we have the internet now because of pornography like sad I know but that's just the way it is so

with maybe uh that's that's my connection there so there was a currency that just came out like a lot like a couple weeks ago it started out it's like point nine zeros one one five like

that's how cheap it is right now but it's it went up like it's going into the thousands percent it's gonna it's gonna hit like its own like 25 cents or something like that now yeah what do you think that's something that would become

like something you would speculate over time if it gets to that level so again uh let's categorize it right so this is application layer stuff right so we have a product that's a token surrounding

important industry it's an application of underlying technology right again before I invest in anything I have to ask three simple questions I mean I obviously I don't think I never heard chain link announce any Integrations with so I probably wouldn't say that but

even if you're not like a chain link Enthusiast like I am I think it's still important to ask you know who's developing it right you know do they have a road map and if they do how well are they executing on it and three what's the value proposition right so

like you know they may have a token but you know how are they capturing value is it through you know viewage is it through investors like VCS like you know how are they actually accruing value for this token right and if those things are

answered well and they give you legitimate answers I don't think there's any reason not to invest but you know just evaluate you know what's the market for this you know is it is there a lot of money in this space is there a little like you know and so you know what

concerns me generally when I when I hear of coins that have like you know nine zeros and then a few digits at the end what concerns me with those is like you very little or seldom you very seldom

have any indication of what the market cap is you know like if you go to coin gecko for example which is a way you can evaluate tokens I've seen some of those tokens they just have like a question mark at the circulating Supply and so we have no idea how much that is in

circulation right it could be all held in one wallet where developers who made this like you know project over a weekend they're just waiting for people to pour their money and then they just sell their tokens and take their money right so again I always approach

everything from a fundamental standpoint so if the industry's there if the Project's there if the fundamentals are there I don't care what the what the application is you know they'll have competitors in my opinion because it's an application layer thing it's as you

there's usually gonna be a competitor to that level but in that sense you know if meets those criterias I wouldn't consider not investing okay thank you and now last question you know a lot

about certain coins and how they kind of make their way into this space and then whether they're going to dominate or not um what's stopping someone like with your knowledge or let's say if some of us in the group got together and decided

we wanted to make our own coin like that our own crypto what would stop that from happening besides liquidity stop what from happening specifically intelligence yeah you can Chris you can't that's I'm

trying to figure out it's like how does someone create a thing like chain link over time yeah okay okay now I see what you're saying you're saying how would they create an infrastructure token that the way that chain Link's done it for example you just said that they're

harder you say earlier for Peter's question or before that you said um that they're still trying to figure out ways of doing certain things like people are still finding solutions for things so what if someone in this group we all got

together and we found we thought hey we should do this because no one's doing that yet yeah so in that case yeah like if it's an application like that like I would definitely like if there's a like because this is exactly what channel link does they're like they love it when

people come to them with their ideas they're like hey like this is a new Innovative thing that no one's thought of yet that no one's brought blockchain or smart contracts into the space yet we want to do this chain link will literally like I've literally seen companies that say like hey we really

need this price feed for this contract chain link will literally like make that price feed for them specifically for their use case right to enable them to do it and so chain link I like to think of it so much more as an enabling protocol where it's like if you come if

you have an idea and like you have a group of developers who have to say like hey we have this really good idea we believe that we can kind of disrupt this industry by providing smart contracts to this protocol you know whatever chain link will enable that but if you're

going to say and come in and be like no I can do what channel is doing like I can provide infrastructure which you're gonna have to deal with at that point is not competition but Network effects right because chain link software is open source and anyone can use it they

can can't copy the network effects that chain links to Garner for their specific Network right and so you could write up your own Oracle solution you could write up your own decentralized Oracle solution you can make your own nodes but do you have the 100 plus nodes that

chain link already has acquired do you have the 100 500 plus Integrations of people who are providing data and consuming that data no that takes time that takes you know business deals it takes years and years of work of you know some of the brightest Minds have to

convince you that it's worth it right it's like so what you're competing with there is resources time intelligence devotion right all the stuff that chain link has put in for years and years and years ahead of anyone else by miles but

if you're talking application layer stuff if you have a small team that's developing a protocol chain link is always happy there to like help you and then enable it to happen so that sounds

a lot like uh how Tesla's about 10 billion hours logged on the road in terms of their camera sensors because they have them in every car on the road

yeah ahead of the second place competitor yeah no it's amazing so people want to talk about that right like people taking market share from Tesla it's like take it how are you

going to compete with someone who has 10 billion miles more than you it's either miles or hours I forget it really doesn't matter just wrap your head around that number data is the new gold

in the tech world in the crypto world right Whoever has the most data wins they'll put you in the coffin if they have more data than you and more importantly than data you know who has the best infrastructure to move that

data around and verify it it's like right you know data is the oil chain link is the pipelines that get it it's where it needs to go you know yeah if you can harness that data in a valuable way which chain link does phenomenally

then it's more valuable than the data itself because it's being utilized in a way that makes it valuable right so in that case any data it's truthful verifiable like real not false data

usable data it's usable for these kinds of high value contracts that's the key right oh yeah well we appreciate you my man this has been a hell of a call if you want to drop your email in the chat

one more time I reposted it think the people who wanted it got it but multiple of our members said this was their favorite call so we appreciate you thank you for sure so like I said if you guys have any questions or you want to like

have a little bit of a deeper discussion uh one to one just email me let me know we can set up an appointment and uh you know whatever you're looking to do we can either discuss it or we can try to implement it I guess you you know using

D5 because to be honest with you guys like my main goal in doing this kind of stuff is to get people onto this new Financial system right I want people to know that they don't have to go through their Banks or work through this

drudgery of weeks and months of trying to just like live your financial life and acquire your financial well-being like I want people to know that there are options available to them where they don't have to you know bow down before these Banks like they can do it

themselves there's protocols that can help you do it like you can secure your Financial Freedom by engaging in this in D5 decentralized Finance so if any of you are interested in that and you want to learn how to do it I'm here to explain it because I've been doing it

for two years now that's literally what our group's about so I have a hunch there's some residents good glad to hear it awesome man if you ever want to come back on and give an encore we'd love to

have you if not of course we respect it I think enough people got your email and such I appreciate it yeah and again guys like spread the word if anyone else is kind of interested in this stuff just turn them on to me and I'd love to just explain it to them word of mouth is the

best way to help you this stuff so cool brother well all of our future members will be seeing this as well so you might have a you know a bit of a continued pipeline awesome well I love it thanks for having me on Jeremy appreciate uh coming out here and talking about the

stuff because it's one of my favorite things to talk about we appreciate you as well and thank you Mary Lee for setting this up everyone thank you for showing up on a Friday night I know your time is valuable this is one of the funniest calls though hope you guys

enjoyed it have a great weekend everyone we'll catch you next time