1 00:00:00,320 --> 00:00:03,040 Speaker 1: Hello everyone, and welcome to the latest episode from the 2 00:00:03,080 --> 00:00:06,760 Speaker 1: midweek edition of the coin Bureau podcast. Every week, I 3 00:00:06,800 --> 00:00:09,440 Speaker 1: pick out two of my favorite videos from coin Bureau's 4 00:00:09,480 --> 00:00:12,920 Speaker 1: YouTube channel to present to you in podcast form. The 5 00:00:13,000 --> 00:00:15,640 Speaker 1: audio you're about to hear is from those videos I've 6 00:00:15,720 --> 00:00:18,400 Speaker 1: chosen this week. Many of you have been in touch 7 00:00:18,480 --> 00:00:20,759 Speaker 1: to ask whether it's possible to listen to our videos 8 00:00:20,760 --> 00:00:24,240 Speaker 1: in podcast format, and so your wish is my command. 9 00:00:25,040 --> 00:00:28,000 Speaker 1: This week, I've selected our videos on the World Economic 10 00:00:28,040 --> 00:00:32,000 Speaker 1: Forum's chilling plans for our future and our recent update 11 00:00:32,080 --> 00:00:35,400 Speaker 1: on Cardano. Now, you may already be familiar with the 12 00:00:35,400 --> 00:00:38,000 Speaker 1: phrase you'll own nothing and be happy, But if you're not, 13 00:00:38,400 --> 00:00:41,400 Speaker 1: it's something that's been un ironically spouted by the folks 14 00:00:41,479 --> 00:00:44,640 Speaker 1: over at the World Economic Forum or WHEF, one of 15 00:00:44,680 --> 00:00:50,279 Speaker 1: a number of unelected, unaccountable, and unfeasibly powerful multinational organizations 16 00:00:50,479 --> 00:00:54,240 Speaker 1: that shape much of our lives without our knowledge. Many 17 00:00:54,240 --> 00:00:57,000 Speaker 1: people seem to imagine that attributing this phrase to the 18 00:00:57,040 --> 00:00:59,720 Speaker 1: folks at the WEF is all part of some conspiracy theory, 19 00:01:00,000 --> 00:01:03,200 Speaker 1: but it really isn't. This is what they actually believe 20 00:01:03,280 --> 00:01:06,600 Speaker 1: the future should look like, and steps are already being 21 00:01:06,640 --> 00:01:10,800 Speaker 1: taken to phase out individual ownership of a growing number 22 00:01:10,840 --> 00:01:13,760 Speaker 1: of products. In this dive into what a future of 23 00:01:13,800 --> 00:01:16,000 Speaker 1: owning nothing might look like, I take a look at 24 00:01:16,000 --> 00:01:19,800 Speaker 1: the surprisingly old idea of planned obsolescence and how it's 25 00:01:19,840 --> 00:01:23,160 Speaker 1: being used to guide us towards a subscription based future. 26 00:01:23,520 --> 00:01:27,440 Speaker 1: Companies across the world are desperate to attract new consumers 27 00:01:27,480 --> 00:01:31,400 Speaker 1: and to keep them constantly buying new products. To them, 28 00:01:31,480 --> 00:01:33,720 Speaker 1: the idea that people may try and prolong the life 29 00:01:33,720 --> 00:01:36,800 Speaker 1: of their devices and products by having them repaired presents 30 00:01:36,840 --> 00:01:40,399 Speaker 1: a serious threat to future profits. They're also worried that 31 00:01:40,480 --> 00:01:45,000 Speaker 1: demographic trends means fewer consumers overall. Their solution to this 32 00:01:45,040 --> 00:01:47,800 Speaker 1: problem means we could one day find ourselves living in 33 00:01:47,800 --> 00:01:51,080 Speaker 1: a world where actual ownership of goods, from phones, to 34 00:01:51,240 --> 00:01:55,440 Speaker 1: cars to even our homes becomes an outdated concept. It's 35 00:01:55,440 --> 00:01:58,880 Speaker 1: a scary thought, though, Fortunately, there are ways to push 36 00:01:58,880 --> 00:02:02,320 Speaker 1: back against the West's vision of our future. Keep listening 37 00:02:02,640 --> 00:02:05,880 Speaker 1: to find out. Then. In the second part of today's episode, 38 00:02:05,920 --> 00:02:09,080 Speaker 1: you'll hear our latest update on Cardarno, one of the 39 00:02:09,080 --> 00:02:13,280 Speaker 1: biggest crypto projects out there and one vying for ethereums 40 00:02:13,280 --> 00:02:16,880 Speaker 1: crown as the leading Layer one blockchain. All eyes have 41 00:02:17,000 --> 00:02:21,720 Speaker 1: been on Ethereum recently as the merge approaches, but Cardaro 42 00:02:21,880 --> 00:02:25,560 Speaker 1: also has an important and much delayed upgrade in the works, 43 00:02:25,840 --> 00:02:29,400 Speaker 1: now scheduled to happen not long after the merge. The 44 00:02:29,520 --> 00:02:32,680 Speaker 1: Vassal hard fork is a big moment for Cardano, and 45 00:02:32,919 --> 00:02:36,680 Speaker 1: many aida holders will be waiting anxiously to see whether 46 00:02:36,720 --> 00:02:40,040 Speaker 1: it's a success. Stay tuned to get a full low down. 47 00:02:40,639 --> 00:02:42,880 Speaker 1: I hope you enjoy listening to these two pieces, and 48 00:02:43,000 --> 00:02:45,840 Speaker 1: I'll be back talking crypto with Mike very soon, so 49 00:02:46,000 --> 00:02:48,520 Speaker 1: be sure to stay tuned, and if you want even 50 00:02:48,560 --> 00:02:51,360 Speaker 1: more content from coin Bureau, be sure to subscribe to 51 00:02:51,400 --> 00:02:54,800 Speaker 1: our YouTube channel and visit us on social media too. 52 00:03:15,080 --> 00:03:19,200 Speaker 1: You will own nothing and be happy. This infamous prediction 53 00:03:19,320 --> 00:03:22,520 Speaker 1: from the World Economic Forum is recognized by almost everyone 54 00:03:22,600 --> 00:03:25,119 Speaker 1: these days, yet there are few who believe it could 55 00:03:25,120 --> 00:03:28,440 Speaker 1: ever come to pass. Well, what if I told you 56 00:03:28,520 --> 00:03:32,079 Speaker 1: that our ownership of things is quickly disappearing and that 57 00:03:32,160 --> 00:03:37,320 Speaker 1: many of us are unknowingly embracing this new normal. Today, 58 00:03:37,360 --> 00:03:39,880 Speaker 1: I'm going to tell you about a disturbing trend that's 59 00:03:39,920 --> 00:03:43,680 Speaker 1: finding its way into every corner of the economy. Where 60 00:03:43,720 --> 00:03:47,440 Speaker 1: this trend came from and why cryptocurrency could be the 61 00:03:47,520 --> 00:03:52,160 Speaker 1: only defense. How often do you upgrade or change your phone? 62 00:03:53,040 --> 00:03:56,200 Speaker 1: Statistically speaking, your answer will be somewhere in the range 63 00:03:56,280 --> 00:03:59,440 Speaker 1: of two to three years. This is consistent with the 64 00:03:59,480 --> 00:04:02,760 Speaker 1: lifespan of the average phone battery, which tends to give 65 00:04:02,760 --> 00:04:04,760 Speaker 1: out after a couple of years of use, even if 66 00:04:04,800 --> 00:04:08,200 Speaker 1: you're taking care of your phone's battery, namely not letting 67 00:04:08,200 --> 00:04:13,680 Speaker 1: it drop below or go above the more you know now. 68 00:04:13,760 --> 00:04:16,600 Speaker 1: In theory, the solution is simple, just install a new 69 00:04:16,600 --> 00:04:18,920 Speaker 1: battery when the current one gives out and enjoy your 70 00:04:18,920 --> 00:04:21,000 Speaker 1: phone for another two to three years until you need 71 00:04:21,040 --> 00:04:23,599 Speaker 1: to replace the battery again, and so on and so on. 72 00:04:24,520 --> 00:04:27,839 Speaker 1: In practice, however, opening your phone and switching the battery 73 00:04:27,880 --> 00:04:31,520 Speaker 1: is generally not easy to do and can damage the phone. 74 00:04:32,400 --> 00:04:34,960 Speaker 1: This assumes you can even get your hands on a 75 00:04:35,000 --> 00:04:38,800 Speaker 1: replacement battery to begin with, which isn't guaranteed. In the 76 00:04:38,839 --> 00:04:42,640 Speaker 1: case of newer iPhone models, the phone will actually detect 77 00:04:42,880 --> 00:04:45,360 Speaker 1: when you've replaced the battery and will give you all 78 00:04:45,440 --> 00:04:48,000 Speaker 1: manner of warning messages which push you to go to 79 00:04:48,080 --> 00:04:51,320 Speaker 1: the Apple Store for an extensive repair that could cost 80 00:04:51,400 --> 00:04:54,800 Speaker 1: as much as a brand new phone. Now. Critics of 81 00:04:54,839 --> 00:04:59,480 Speaker 1: this setup have accurately observed that the inability to independently open, 82 00:04:59,680 --> 00:05:02,800 Speaker 1: modern fire, or repair a device that you own means 83 00:05:02,960 --> 00:05:06,760 Speaker 1: that you don't actually own it, because ownership literally means 84 00:05:06,800 --> 00:05:09,680 Speaker 1: the ability to do all of the above and more. 85 00:05:10,720 --> 00:05:13,640 Speaker 1: These and other issues have given rise to a global 86 00:05:13,680 --> 00:05:17,200 Speaker 1: movement called right to repair, which has managed to pressure 87 00:05:17,240 --> 00:05:21,080 Speaker 1: Apple and other tech giants into making repairs more accessible, 88 00:05:21,360 --> 00:05:24,320 Speaker 1: albeit to a limited degree due to the lobbying power 89 00:05:24,440 --> 00:05:29,360 Speaker 1: these corporations wield. The right to repair also doesn't always 90 00:05:29,400 --> 00:05:32,560 Speaker 1: fix the underlying ownership issue, and this is something that's 91 00:05:32,600 --> 00:05:35,919 Speaker 1: been pointed out on many occasions by Louie Rossman, a 92 00:05:36,000 --> 00:05:39,240 Speaker 1: popular YouTuber and computer repair shop owner who has gone 93 00:05:39,279 --> 00:05:43,240 Speaker 1: head to head with anti repair corporate lobbyists. Now, this 94 00:05:43,360 --> 00:05:47,240 Speaker 1: video was partially inspired by Louie's content, and I strongly 95 00:05:47,279 --> 00:05:50,000 Speaker 1: suggest checking out his channel if you're interested in the 96 00:05:50,080 --> 00:05:53,680 Speaker 1: dystopian direction that technology seems to be heading and want 97 00:05:53,720 --> 00:05:56,200 Speaker 1: to know how some folks are fighting back on the 98 00:05:56,200 --> 00:05:59,159 Speaker 1: policy front. I'll leave a link to his channel in 99 00:05:59,200 --> 00:06:03,800 Speaker 1: the description. Now, as to why the right to repair 100 00:06:04,000 --> 00:06:07,359 Speaker 1: doesn't always fix the underlying ownership issue, look no further 101 00:06:07,480 --> 00:06:11,640 Speaker 1: than the phenomenon of manufacturers slowing down phones to force 102 00:06:11,720 --> 00:06:14,960 Speaker 1: you to buy a new one. Any Android users in 103 00:06:15,000 --> 00:06:18,200 Speaker 1: the crowd will know that Samsung was fined for doing 104 00:06:18,279 --> 00:06:23,120 Speaker 1: exactly that in eighteen. As is often the case with 105 00:06:23,240 --> 00:06:26,560 Speaker 1: big tech companies, Samsung was issued a fine that amounted 106 00:06:26,600 --> 00:06:28,839 Speaker 1: to a slap on the wrist compared to the profits 107 00:06:28,839 --> 00:06:32,360 Speaker 1: it probably made from artificially slowing down phones, something which 108 00:06:32,360 --> 00:06:37,159 Speaker 1: the company is allegedly still doing to this day. This 109 00:06:37,320 --> 00:06:40,960 Speaker 1: level of control negates any aspect of ownership, and let's 110 00:06:41,040 --> 00:06:44,760 Speaker 1: just hope Salana doesn't do this to its upcoming cryptophones. 111 00:06:45,279 --> 00:06:49,240 Speaker 1: More about that in the description Anyway, I digress. Now 112 00:06:49,440 --> 00:06:53,440 Speaker 1: it's not just phones either. The practice of forcing people 113 00:06:53,480 --> 00:06:56,440 Speaker 1: to upgrade through some nefarious means has found its way 114 00:06:56,480 --> 00:07:01,360 Speaker 1: into everything from household appliances to hospital equipment. What's crazy 115 00:07:01,560 --> 00:07:04,479 Speaker 1: is that this practice has been around for almost a 116 00:07:04,600 --> 00:07:09,400 Speaker 1: hundred years, and it even has a name, planned obsolescence. 117 00:07:10,320 --> 00:07:14,080 Speaker 1: Although planned obsolescence has its origins in the early American 118 00:07:14,120 --> 00:07:17,720 Speaker 1: bicycle and automobile industries, the term was coined by an 119 00:07:17,720 --> 00:07:21,400 Speaker 1: American real estate broker named Bernard London in a paper 120 00:07:21,440 --> 00:07:25,600 Speaker 1: titled quote Ending the Depression through Planned Obsolescence, which he 121 00:07:25,640 --> 00:07:29,480 Speaker 1: published in nineteen thirty two. In the paper, Bernard said 122 00:07:29,560 --> 00:07:33,400 Speaker 1: that the Great Depression made no sense because quote factories, 123 00:07:33,520 --> 00:07:36,880 Speaker 1: warehouses and fields are still intact and are ready to 124 00:07:36,920 --> 00:07:40,440 Speaker 1: produce in unlimited quantities, but the urge to go ahead 125 00:07:40,440 --> 00:07:44,360 Speaker 1: has been paralyzed by a decline in buying power and 126 00:07:44,480 --> 00:07:48,760 Speaker 1: by extension, a decline in demand. Given this situation, Bernard 127 00:07:48,760 --> 00:07:53,120 Speaker 1: proposed the following solution quote. I would have the government 128 00:07:53,200 --> 00:07:55,720 Speaker 1: assign a lease of life to shoes and homes and 129 00:07:55,800 --> 00:07:59,760 Speaker 1: machines to all products of manufacture, mining and agriculture when 130 00:07:59,800 --> 00:08:02,600 Speaker 1: they are first created, and they would be sold and 131 00:08:02,720 --> 00:08:06,200 Speaker 1: used within the term of their existence, definitely known by 132 00:08:06,240 --> 00:08:09,800 Speaker 1: the consumer. After the allotted time had expired, these things 133 00:08:09,800 --> 00:08:12,160 Speaker 1: would be legally dead and would be controlled by the 134 00:08:12,240 --> 00:08:16,920 Speaker 1: duly appointed governmental agency and destroyed if there is widespread unemployment. 135 00:08:17,400 --> 00:08:20,360 Speaker 1: In other words, everything produced in the economy would be 136 00:08:20,480 --> 00:08:23,760 Speaker 1: artificially made obsolete by the government at a certain date 137 00:08:23,960 --> 00:08:26,960 Speaker 1: to cause the population to consume more so that the 138 00:08:26,960 --> 00:08:33,719 Speaker 1: economy recovers, while simultaneously providing ample employment, further fostering economic growth. Now, 139 00:08:33,760 --> 00:08:36,080 Speaker 1: if you watched our video about how to prepare for 140 00:08:36,200 --> 00:08:38,640 Speaker 1: the crypto bear market, you'll know that it was the 141 00:08:38,679 --> 00:08:42,040 Speaker 1: Second World War that arguably ended the Great Depression, and 142 00:08:42,080 --> 00:08:46,040 Speaker 1: Bernard's problematic idea of planned obsolescence never really caught on 143 00:08:46,240 --> 00:08:49,760 Speaker 1: as a result. This is primarily because the post war 144 00:08:49,840 --> 00:08:54,120 Speaker 1: period was one of incredible prosperity, particularly for the United States, 145 00:08:54,160 --> 00:08:56,280 Speaker 1: as it managed to reap much of the rewards of 146 00:08:56,360 --> 00:08:59,480 Speaker 1: victory while incurring little in the way of losses compared 147 00:08:59,480 --> 00:09:02,800 Speaker 1: with its ally. The US dollar had also just become 148 00:09:02,840 --> 00:09:07,480 Speaker 1: the world's reserve currency. More importantly, the populations of countries 149 00:09:07,520 --> 00:09:10,600 Speaker 1: like the United States and Canada exploded after the Second 150 00:09:10,600 --> 00:09:13,560 Speaker 1: World War, creating the army of well off old folks 151 00:09:13,600 --> 00:09:16,560 Speaker 1: many of us now referred to as boomers. This is 152 00:09:16,600 --> 00:09:19,880 Speaker 1: important because the rapid increase in population meant there was 153 00:09:19,920 --> 00:09:22,760 Speaker 1: a rapid increase in consumption, and that meant that there 154 00:09:22,800 --> 00:09:26,800 Speaker 1: was no need for planned obsolescence business practices. Companies could 155 00:09:26,840 --> 00:09:30,480 Speaker 1: comfortably sell high quality hardware that would last for decades 156 00:09:30,640 --> 00:09:33,400 Speaker 1: because they knew there would always be another wave of 157 00:09:33,400 --> 00:09:37,600 Speaker 1: buyers coming next year as more baby boomers became adult boomers. 158 00:09:38,320 --> 00:09:41,280 Speaker 1: This seems to have been the case until the nineteen seventies, 159 00:09:41,400 --> 00:09:44,800 Speaker 1: when it became clear that baby boomers weren't having nearly 160 00:09:44,840 --> 00:09:48,240 Speaker 1: the same number of children as their forebears. It appears 161 00:09:48,360 --> 00:09:51,840 Speaker 1: that many Western countries tried to fill this future demographic 162 00:09:51,880 --> 00:09:54,760 Speaker 1: gap by opening their doors to immigration, and this seems 163 00:09:54,760 --> 00:09:58,200 Speaker 1: to have worked for a while. By the early two thousands, however, 164 00:09:58,240 --> 00:10:00,960 Speaker 1: it became clear that immigration the low wasn't enough to 165 00:10:01,000 --> 00:10:04,160 Speaker 1: fill the future demographic gap, which of course continued to 166 00:10:04,200 --> 00:10:07,840 Speaker 1: grow as companies needed ever more future consumption to continue 167 00:10:07,880 --> 00:10:12,199 Speaker 1: their future expansion, all the while native birth rates continued 168 00:10:12,320 --> 00:10:15,960 Speaker 1: to decline. This seems to be the period when Bernard's 169 00:10:15,960 --> 00:10:20,120 Speaker 1: idea of planned obsolescence started to become a reality. Companies 170 00:10:20,160 --> 00:10:23,640 Speaker 1: were effectively forced into selling low quality products that would 171 00:10:23,720 --> 00:10:27,800 Speaker 1: require a repurchase every few years to continue consumption trends 172 00:10:28,000 --> 00:10:31,560 Speaker 1: in the absence of a growing population. Now I know 173 00:10:31,600 --> 00:10:34,560 Speaker 1: what you're thinking, guy, this is all very interesting. But 174 00:10:34,679 --> 00:10:36,960 Speaker 1: what does this have to do with me owning nothing 175 00:10:37,000 --> 00:10:41,280 Speaker 1: and being happy? Well, I'm glad you asked, hypothetical impatient viewer. 176 00:10:42,160 --> 00:10:45,640 Speaker 1: Any iOS users in the crowd might recall that Bloomberg 177 00:10:45,720 --> 00:10:48,960 Speaker 1: reported that Apple will be rolling out a subscription service 178 00:10:49,000 --> 00:10:52,280 Speaker 1: for iPhones later this year or early next year. To 179 00:10:52,360 --> 00:10:56,040 Speaker 1: be clear, this upcoming subscription service is not at all 180 00:10:56,360 --> 00:11:02,199 Speaker 1: like Apple's existing subscription services. That's because it applies to hardware, 181 00:11:02,200 --> 00:11:06,160 Speaker 1: not software. The subscription service will be for the physical 182 00:11:06,240 --> 00:11:10,480 Speaker 1: phone itself. As Louis Rossman pointed out in his video 183 00:11:10,520 --> 00:11:13,440 Speaker 1: reaction to the news, a service is when someone or 184 00:11:13,559 --> 00:11:18,079 Speaker 1: something does something for you. A phone is not a service. 185 00:11:18,160 --> 00:11:20,800 Speaker 1: It is a product, and it should be entirely yours 186 00:11:21,120 --> 00:11:24,559 Speaker 1: from the moment you purchase it. Louis also highlighted the 187 00:11:24,600 --> 00:11:28,120 Speaker 1: fact that many Wall Street investors are pushing for publicly 188 00:11:28,120 --> 00:11:31,440 Speaker 1: traded companies to adopt this so called hardware as a 189 00:11:31,480 --> 00:11:34,200 Speaker 1: service business model because it will make them trade at 190 00:11:34,320 --> 00:11:38,920 Speaker 1: higher valuations regardless of their actual earnings, something that's mentioned 191 00:11:38,960 --> 00:11:43,440 Speaker 1: in the Bloomberg article. Trading at higher valuations regardless of 192 00:11:43,480 --> 00:11:46,400 Speaker 1: actual earnings sounds eerily similar to the E s G 193 00:11:46,559 --> 00:11:50,480 Speaker 1: investment trend, which effectively consists of asset managers moving their 194 00:11:50,480 --> 00:11:53,960 Speaker 1: money into companies that comply with their ever changing criteria, 195 00:11:54,160 --> 00:11:57,600 Speaker 1: causing their stocks to pump even though no actual profits 196 00:11:57,679 --> 00:12:01,280 Speaker 1: are being made. While I couldn't find any concrete evidence 197 00:12:01,320 --> 00:12:04,439 Speaker 1: that E s G investors are behind this accelerating trend 198 00:12:04,480 --> 00:12:07,880 Speaker 1: towards hardware as a service, in various sectors. It wouldn't 199 00:12:07,880 --> 00:12:11,000 Speaker 1: be surprising, given that the trend is inherently e s 200 00:12:11,040 --> 00:12:16,319 Speaker 1: G friendly. Hardware as a service satisfies environmental criteria because 201 00:12:16,440 --> 00:12:19,400 Speaker 1: the number of devices in circulation can be reduced, the 202 00:12:19,480 --> 00:12:23,480 Speaker 1: devices in circulation can be reused, and any old devices 203 00:12:23,520 --> 00:12:26,040 Speaker 1: can be easily recycled, as you'll likely need to give 204 00:12:26,080 --> 00:12:29,840 Speaker 1: back your old device to get a newer version. Hardware 205 00:12:29,880 --> 00:12:33,920 Speaker 1: as a service also satisfies social criteria because everyone will 206 00:12:33,960 --> 00:12:37,480 Speaker 1: have subscription services for the same devices. There will be 207 00:12:37,600 --> 00:12:40,080 Speaker 1: no phone with a better camera or a bigger memory, 208 00:12:40,120 --> 00:12:42,840 Speaker 1: nor a faster or slower, or bigger or smaller car, 209 00:12:43,120 --> 00:12:46,720 Speaker 1: and that means everyone will be truly equal. Hardware as 210 00:12:46,720 --> 00:12:50,240 Speaker 1: a service satisfies governance criteria because it will put the 211 00:12:50,280 --> 00:12:54,520 Speaker 1: company producing the product in total control of its creation, use, 212 00:12:54,800 --> 00:12:58,600 Speaker 1: and destruction. Anyways, more about e s G in the 213 00:12:58,640 --> 00:13:02,600 Speaker 1: description now. Unlike most other e s G related policies, 214 00:13:02,679 --> 00:13:06,280 Speaker 1: hardware as a service could actually result in actual profits 215 00:13:06,320 --> 00:13:09,680 Speaker 1: because people will be paying subscription services for just about 216 00:13:09,720 --> 00:13:13,800 Speaker 1: everything they own until they die. Notably, the subscription costs 217 00:13:13,920 --> 00:13:16,320 Speaker 1: could be made low enough so that these products are 218 00:13:16,320 --> 00:13:19,520 Speaker 1: available to more people, not just the privileged few. In 219 00:13:19,559 --> 00:13:22,800 Speaker 1: developing countries where most of the demand for these products 220 00:13:22,920 --> 00:13:27,160 Speaker 1: is currently coming from. Whereas planned obsolescence was introduced as 221 00:13:27,160 --> 00:13:29,720 Speaker 1: a means of solving the Great Depression, it looks like 222 00:13:29,840 --> 00:13:32,880 Speaker 1: hardware as a service is being introduced to prevent another 223 00:13:32,920 --> 00:13:37,560 Speaker 1: depression from occurring by ensuring consumption continues to increase even 224 00:13:37,600 --> 00:13:42,360 Speaker 1: as the demographic decline continues. Now, don't get me wrong, 225 00:13:42,520 --> 00:13:45,680 Speaker 1: hardware as a service is unlikely to be forced upon 226 00:13:45,760 --> 00:13:49,320 Speaker 1: US consumers. As we've recently seen with other products, Applying 227 00:13:49,360 --> 00:13:51,920 Speaker 1: too much force tends to result in an equal or 228 00:13:51,960 --> 00:13:55,439 Speaker 1: greater amount of pushback, because hey, people know something is 229 00:13:55,520 --> 00:13:58,160 Speaker 1: up when they don't have a choice in the matter. Instead, 230 00:13:58,440 --> 00:14:01,520 Speaker 1: the ability to own anything will likely become ever more 231 00:14:01,559 --> 00:14:04,839 Speaker 1: difficult as time goes on, and I suspect they'll start 232 00:14:04,880 --> 00:14:07,240 Speaker 1: with the things that tend to be the most expensive 233 00:14:07,280 --> 00:14:10,880 Speaker 1: purchases for the average person. At the top of this list, 234 00:14:11,120 --> 00:14:14,240 Speaker 1: we have housing, whose costs have been going through the 235 00:14:14,320 --> 00:14:17,800 Speaker 1: roof in most countries. As I mentioned in our recent 236 00:14:17,880 --> 00:14:20,760 Speaker 1: video about the housing market, the rising costs in this 237 00:14:20,800 --> 00:14:23,920 Speaker 1: corner of the economy will eventually cause the population to 238 00:14:24,000 --> 00:14:27,800 Speaker 1: push politicians to do something, as we've seen in countries 239 00:14:27,840 --> 00:14:30,480 Speaker 1: like Germany. One of the outcomes could be that the 240 00:14:30,520 --> 00:14:34,840 Speaker 1: government starts nationalizing housing, are taking it away from landlords 241 00:14:34,880 --> 00:14:37,360 Speaker 1: in the name of the greater good. And while these 242 00:14:37,400 --> 00:14:40,240 Speaker 1: policies will be directed towards the big fish at first, 243 00:14:40,480 --> 00:14:45,840 Speaker 1: the small fish will come next, just like with taxation. Alternatively, 244 00:14:46,120 --> 00:14:49,560 Speaker 1: if the housing market collapses, we could see asset managers 245 00:14:49,560 --> 00:14:52,800 Speaker 1: like black Stones swoop in and acquire as many properties 246 00:14:52,800 --> 00:14:55,720 Speaker 1: as possible with the freshly printed money they received from 247 00:14:55,720 --> 00:14:59,480 Speaker 1: their respective central banks basically your rent from the government 248 00:15:00,080 --> 00:15:03,160 Speaker 1: or from Wall Street. The next item on the list 249 00:15:03,320 --> 00:15:06,200 Speaker 1: is automobiles of all kinds, and this is where lots 250 00:15:06,200 --> 00:15:09,240 Speaker 1: of work is already being done by car sharing companies 251 00:15:09,280 --> 00:15:12,680 Speaker 1: like car to Share, shared electric scooter companies like Lime, 252 00:15:12,960 --> 00:15:16,920 Speaker 1: and shared bicycle companies like mobike. You can bet your 253 00:15:16,960 --> 00:15:20,560 Speaker 1: bottom dollar that these entities are extracting as much data 254 00:15:20,640 --> 00:15:23,560 Speaker 1: as they can in preparation for hardware as a service 255 00:15:23,560 --> 00:15:26,520 Speaker 1: models for similar automobiles, and the fact that many of 256 00:15:26,520 --> 00:15:30,840 Speaker 1: these companies continue to receive large investments despite being barely 257 00:15:30,880 --> 00:15:35,040 Speaker 1: profitable is evidence to this effect. On that note, hardware 258 00:15:35,040 --> 00:15:37,600 Speaker 1: as a service in automobiles is likely part of why 259 00:15:37,640 --> 00:15:41,560 Speaker 1: there's such a huge push for electric vehicles. That's because 260 00:15:41,640 --> 00:15:44,440 Speaker 1: it's easy to break the rules of a sharing economy 261 00:15:44,520 --> 00:15:47,200 Speaker 1: when the vehicle is powered by petrol and hardware, but 262 00:15:47,240 --> 00:15:49,560 Speaker 1: it's much harder to break the rules when the vehicle 263 00:15:49,680 --> 00:15:53,600 Speaker 1: is powered by electricity and software. Moreover, there's a limit 264 00:15:53,680 --> 00:15:56,080 Speaker 1: to how many electric cars can be made because there 265 00:15:56,120 --> 00:15:58,600 Speaker 1: doesn't seem to be enough lithium on the planet to 266 00:15:58,680 --> 00:16:02,360 Speaker 1: replace existing cars with electric cars. According to the World 267 00:16:02,360 --> 00:16:07,680 Speaker 1: Economic Forum's own research, this effectively guarantees that electric cars 268 00:16:07,800 --> 00:16:11,720 Speaker 1: will need to be shared now. Phones and computers will 269 00:16:11,760 --> 00:16:14,280 Speaker 1: probably be the third class of products to get sucked 270 00:16:14,280 --> 00:16:17,000 Speaker 1: into the hardware as a service scheme, but I suspect 271 00:16:17,080 --> 00:16:19,440 Speaker 1: it will take quite some time for the average person 272 00:16:19,480 --> 00:16:22,920 Speaker 1: to be okay with this. That's because phones and computers 273 00:16:23,040 --> 00:16:27,080 Speaker 1: are frequently listed as a person's most valuable possessions, primarily 274 00:16:27,120 --> 00:16:29,960 Speaker 1: because it's something that you can truly shape according to 275 00:16:30,080 --> 00:16:34,760 Speaker 1: your liking. These devices also contain lots of sensitive personal 276 00:16:34,880 --> 00:16:37,800 Speaker 1: data that you'd rather keep to yourself and not share 277 00:16:37,880 --> 00:16:41,960 Speaker 1: with anyone. Keeping track of phones and computers would also 278 00:16:42,040 --> 00:16:44,760 Speaker 1: be very difficult without a digital i D, which is 279 00:16:44,800 --> 00:16:47,960 Speaker 1: also a prerequisite for the rollout of Central Bank Digital 280 00:16:48,000 --> 00:16:51,600 Speaker 1: currencies and Internet censorship, which the powers that be have 281 00:16:51,840 --> 00:16:56,520 Speaker 1: explicitly stated they want to see. The worst part of 282 00:16:56,560 --> 00:16:59,200 Speaker 1: all this is that there are increasing numbers of people 283 00:16:59,240 --> 00:17:02,120 Speaker 1: who are on eyedronically on board with this hardware as 284 00:17:02,120 --> 00:17:06,040 Speaker 1: a service idea. This is simply because an increasing number 285 00:17:06,080 --> 00:17:08,760 Speaker 1: of people can't afford a home, a car, or even 286 00:17:08,800 --> 00:17:12,320 Speaker 1: a nice computer or phone. I'll never forget the reaction 287 00:17:12,359 --> 00:17:14,560 Speaker 1: I got when I told a few friends about how 288 00:17:14,600 --> 00:17:17,280 Speaker 1: the World Economic Forum says you'll own nothing and be happy. 289 00:17:17,800 --> 00:17:20,719 Speaker 1: They just sighed and said, well, I don't own anything anyway, 290 00:17:20,800 --> 00:17:23,320 Speaker 1: so at least I'll be happy. If this is how 291 00:17:23,359 --> 00:17:25,960 Speaker 1: you feel, take a second to consider that there is 292 00:17:26,240 --> 00:17:29,359 Speaker 1: something very valuable that you own, and that is yourself. 293 00:17:30,080 --> 00:17:32,320 Speaker 1: Then consider that some of the things that you do 294 00:17:32,440 --> 00:17:36,480 Speaker 1: own are ultimately an extension of yourself. They allow you 295 00:17:36,680 --> 00:17:39,840 Speaker 1: to be you. They allow you to exercise the ownership 296 00:17:39,920 --> 00:17:43,760 Speaker 1: of yourself in the world. This is fundamentally why having 297 00:17:43,760 --> 00:17:46,240 Speaker 1: a place to call home, having a way to move around, 298 00:17:46,359 --> 00:17:49,720 Speaker 1: and having the ability to communicate and express yourself are 299 00:17:49,800 --> 00:17:54,439 Speaker 1: objectively important and universally sought. After the fact that you 300 00:17:54,480 --> 00:17:56,600 Speaker 1: don't have a home, a car, or even a nice 301 00:17:56,600 --> 00:17:59,639 Speaker 1: computer or phone today doesn't mean that you won't have 302 00:17:59,720 --> 00:18:03,160 Speaker 1: these things tomorrow. So long as the path to ownership 303 00:18:03,200 --> 00:18:06,040 Speaker 1: of these and other things exists, you can find your 304 00:18:06,080 --> 00:18:08,240 Speaker 1: way to them if you play your cards right, even 305 00:18:08,280 --> 00:18:11,919 Speaker 1: if the system is rigged against you. Rest assured that 306 00:18:11,960 --> 00:18:13,960 Speaker 1: you will never be happy in a world where the 307 00:18:13,960 --> 00:18:16,879 Speaker 1: path to ownership to literally anything except your skin and 308 00:18:16,920 --> 00:18:20,280 Speaker 1: bones has been blocked, because you will never be able 309 00:18:20,400 --> 00:18:23,960 Speaker 1: to truly be yourself, never mind that you might even 310 00:18:24,119 --> 00:18:27,080 Speaker 1: lose the ownership of yourself because of a digital I 311 00:18:27,160 --> 00:18:31,600 Speaker 1: D in such a world. So what's the solution then, Well, 312 00:18:31,600 --> 00:18:34,000 Speaker 1: by now it should be clear the financial system we 313 00:18:34,040 --> 00:18:36,159 Speaker 1: have now is not working, and some would say it 314 00:18:36,200 --> 00:18:39,480 Speaker 1: hasn't been working for decades, if not longer, because it's 315 00:18:39,520 --> 00:18:43,240 Speaker 1: not just hardware as a service. Planned obsolescence was proposed 316 00:18:43,320 --> 00:18:46,760 Speaker 1: almost one hundred years ago. As almost all of you 317 00:18:46,800 --> 00:18:51,199 Speaker 1: will know, cryptocurrency was built to replace this broken financial system, 318 00:18:51,400 --> 00:18:54,280 Speaker 1: and though cryptocurrency still has a very long way to go, 319 00:18:54,640 --> 00:18:57,240 Speaker 1: it has already fixed one of the most important parts 320 00:18:57,280 --> 00:19:01,000 Speaker 1: of finance, and that's the ability to truly own your assets. 321 00:19:01,600 --> 00:19:03,679 Speaker 1: Now you might think this is nothing new, but it 322 00:19:03,760 --> 00:19:07,040 Speaker 1: really is. The money in your bank can be seized, 323 00:19:07,040 --> 00:19:10,480 Speaker 1: and any physical property you have can be confiscated. Even 324 00:19:10,560 --> 00:19:12,400 Speaker 1: your house can be taken from you if you don't 325 00:19:12,400 --> 00:19:15,160 Speaker 1: pay your taxes, and in some countries the government can 326 00:19:15,160 --> 00:19:19,359 Speaker 1: take your property at will using eminent domain. I'm not kidding. 327 00:19:19,480 --> 00:19:22,280 Speaker 1: Look it up now. You might think that this is fine, 328 00:19:22,359 --> 00:19:25,680 Speaker 1: but it's really not. These are the sorts of legal 329 00:19:25,760 --> 00:19:29,359 Speaker 1: levers that governments and corporations are slowly starting to pull 330 00:19:29,640 --> 00:19:33,480 Speaker 1: to take control of everything you own. Once you realize this, 331 00:19:33,680 --> 00:19:36,840 Speaker 1: it makes it easy to understand why micro Strategy CEO 332 00:19:37,000 --> 00:19:41,919 Speaker 1: Michael Sailor is so obsessed with Bitcoin. BTC can't be 333 00:19:42,000 --> 00:19:45,280 Speaker 1: seized because it's not technically owned by a third party. 334 00:19:45,480 --> 00:19:48,280 Speaker 1: It can't be confiscated because it's not physical, and it 335 00:19:48,320 --> 00:19:50,920 Speaker 1: can't be taken by the government through some obscure law 336 00:19:51,119 --> 00:19:54,840 Speaker 1: because the only law in crypto is immutable computer code. 337 00:19:55,600 --> 00:19:59,000 Speaker 1: The harsh reality is that almost every other cryptocurrency does 338 00:19:59,080 --> 00:20:02,720 Speaker 1: not come with same ownership guarantees, be due to their 339 00:20:02,760 --> 00:20:08,119 Speaker 1: centralization or consensus mechanisms. This makes BTC the best hedge 340 00:20:08,200 --> 00:20:10,800 Speaker 1: against a world where you will own nothing, because it 341 00:20:10,880 --> 00:20:15,040 Speaker 1: guarantees that you will own something. When you look around 342 00:20:15,160 --> 00:20:19,000 Speaker 1: and realize that everyone owns nothing. Even now, there's lots 343 00:20:19,000 --> 00:20:20,840 Speaker 1: to be happy about. When you've got some SATs to 344 00:20:20,880 --> 00:20:24,040 Speaker 1: your name, just make sure that you're holding those SATs 345 00:20:24,080 --> 00:20:26,840 Speaker 1: in your own personal crypto wallet or else. Everything I 346 00:20:26,920 --> 00:20:30,359 Speaker 1: just said about BTC will be irrelevant. You can find 347 00:20:30,359 --> 00:20:32,920 Speaker 1: out about the best crypto wallets using the link in 348 00:20:32,960 --> 00:20:36,439 Speaker 1: the description, and I would consider memorizing your seed phrase 349 00:20:36,760 --> 00:20:46,359 Speaker 1: once you make one. It could save you someday. As 350 00:20:46,400 --> 00:20:50,040 Speaker 1: ethereums transition to proof of steake approaches, crypto traders and 351 00:20:50,119 --> 00:20:54,440 Speaker 1: investors are turning to Ethereum competitors to protect their portfolios 352 00:20:54,480 --> 00:20:58,399 Speaker 1: in case the market's higher expectations are not met. In 353 00:20:58,440 --> 00:21:02,280 Speaker 1: recent weeks, cardanos Aida has emerged as an ideal hedge 354 00:21:02,320 --> 00:21:05,879 Speaker 1: against something going wrong with the merge, and Cardarno's own 355 00:21:06,000 --> 00:21:10,760 Speaker 1: upcoming upgrade could supercharge AIDA's price action. So today I'm 356 00:21:10,760 --> 00:21:13,120 Speaker 1: going to give you a quick breakdown of Cardaro, bring 357 00:21:13,160 --> 00:21:15,040 Speaker 1: you up to speed on some of the project's most 358 00:21:15,080 --> 00:21:18,600 Speaker 1: important updates, and tell you where Aida could be headed 359 00:21:18,880 --> 00:21:22,639 Speaker 1: in the near term. If you're unfamiliar with Cardano, here's 360 00:21:22,680 --> 00:21:26,240 Speaker 1: what you need to know. Cardaro was founded by Ethereum 361 00:21:26,240 --> 00:21:30,400 Speaker 1: co founder Charles Hoskinson. In it was built by Input 362 00:21:30,480 --> 00:21:34,000 Speaker 1: Output Hong Kong or i O h K and IMRGO, 363 00:21:34,240 --> 00:21:36,960 Speaker 1: both of which are based in Singapore but have offices 364 00:21:37,000 --> 00:21:42,080 Speaker 1: and subsidiaries around the world. Cardano's ongoing development is coordinated 365 00:21:42,119 --> 00:21:45,800 Speaker 1: by the Cardarno Foundation, a Swiss nonprofit which is also 366 00:21:46,000 --> 00:21:48,960 Speaker 1: the legal owner of the Cardaro brand. The More You 367 00:21:49,000 --> 00:21:54,439 Speaker 1: Know Cardano raised nearly eighty million dollars across various I 368 00:21:54,560 --> 00:21:59,760 Speaker 1: c O s sixteen and twenty seventeen. Publicly available in 369 00:21:59,800 --> 00:22:04,119 Speaker 1: for Nation suggests the entities behind Cardaro have not raised 370 00:22:04,160 --> 00:22:08,360 Speaker 1: any additional funding since that time. The car Darno main 371 00:22:08,440 --> 00:22:11,640 Speaker 1: net went live in twenty seventeen, and though the project 372 00:22:11,680 --> 00:22:14,320 Speaker 1: is still very much in development compared to its peers, 373 00:22:14,640 --> 00:22:19,080 Speaker 1: most of its key features and functionalities have already been implemented. 374 00:22:20,040 --> 00:22:23,000 Speaker 1: Under the hood, the car Darno blockchain uses a novel 375 00:22:23,080 --> 00:22:26,840 Speaker 1: proof of state consensus mechanism called aa Boris, which allows 376 00:22:26,880 --> 00:22:31,439 Speaker 1: it to process around five hundred transactions per second. Note 377 00:22:31,600 --> 00:22:35,960 Speaker 1: that this TPS figure does not apply to smart contract transactions, 378 00:22:35,960 --> 00:22:38,800 Speaker 1: which can be as slow as just a few transactions 379 00:22:38,800 --> 00:22:43,879 Speaker 1: per second depending on network demand. That said, Cardano's smart 380 00:22:43,880 --> 00:22:48,280 Speaker 1: contract TPS should increase significantly after the vassal hard fork, 381 00:22:48,480 --> 00:22:52,040 Speaker 1: which I'll come back to later. Don't you worry now. 382 00:22:52,080 --> 00:22:55,800 Speaker 1: Although the Cardarno blockchain currently isn't all that fast, it 383 00:22:56,000 --> 00:22:59,240 Speaker 1: is one of the most secure and decentralized blockchains, and 384 00:22:59,320 --> 00:23:03,160 Speaker 1: that's because it has roughly thirty two hundred staking pools. 385 00:23:04,000 --> 00:23:08,720 Speaker 1: The secret source to Cardano's decentralization is its novel K parameter, 386 00:23:08,840 --> 00:23:12,680 Speaker 1: which decreases staking rewards when too much AIDA is being 387 00:23:12,720 --> 00:23:17,760 Speaker 1: staked in a single pool. This incentivizes steak pool operators 388 00:23:17,800 --> 00:23:22,760 Speaker 1: to create additional staking pools, which further decentralizes the Cardarno blockchain. 389 00:23:23,520 --> 00:23:26,560 Speaker 1: If that didn't make it clear enough, ADA is used 390 00:23:26,600 --> 00:23:30,119 Speaker 1: for staking on Cardarno. It's also used to pay for 391 00:23:30,200 --> 00:23:35,400 Speaker 1: transaction fees and to participate in community governance via Project Catalyst. 392 00:23:36,520 --> 00:23:40,040 Speaker 1: Note though, that any Cardarno native asset can be used 393 00:23:40,040 --> 00:23:43,840 Speaker 1: to pay for transaction fees thanks to Cardaro's novel babel 394 00:23:43,920 --> 00:23:48,640 Speaker 1: fees mechanism. AIDA staking rewards are currently around four point 395 00:23:48,720 --> 00:23:52,440 Speaker 1: six percent per year according to the official Cardarno calculator. 396 00:23:52,840 --> 00:23:55,959 Speaker 1: There is no minimum stake, no lock up or unlocked period, 397 00:23:56,280 --> 00:24:00,600 Speaker 1: or any slashing risks associated with staking AIDA. It should 398 00:24:00,680 --> 00:24:03,840 Speaker 1: come as no surprise then, that around seventy percent of 399 00:24:04,000 --> 00:24:08,919 Speaker 1: all Ada in circulation is being staked now. In contrast 400 00:24:09,040 --> 00:24:13,879 Speaker 1: to most cryptocurrencies, Ada had a fairly equitable initial distribution, 401 00:24:13,960 --> 00:24:17,760 Speaker 1: with only around fifteen percent of its initial supply of 402 00:24:17,840 --> 00:24:21,760 Speaker 1: roughly twenty six billion being allocated to the three entities 403 00:24:21,760 --> 00:24:27,919 Speaker 1: behind Cardaro. Like Bitcoin's BTC, Cardarno's Ada has a maximum supply, 404 00:24:28,119 --> 00:24:33,200 Speaker 1: and in Ada's case, this supply is forty five billion. Again, 405 00:24:33,440 --> 00:24:35,960 Speaker 1: like BTC, it's going to take quite a bit of 406 00:24:36,000 --> 00:24:39,040 Speaker 1: time for Ada to hit its maximum supply, with some 407 00:24:39,240 --> 00:24:43,160 Speaker 1: estimates suggesting it could take another thirty years, if not more. 408 00:24:44,320 --> 00:24:49,600 Speaker 1: The Cardaro blockchain currently has seventy three decentralized applications according 409 00:24:49,640 --> 00:24:53,840 Speaker 1: to Cardarno crowd. Twelve of these are defied protocols, which 410 00:24:53,920 --> 00:24:57,920 Speaker 1: collectively hold around ninety million dollars in total value locked 411 00:24:57,960 --> 00:25:02,120 Speaker 1: according to defy Lama. Note that there are over one 412 00:25:02,280 --> 00:25:06,520 Speaker 1: thousand projects building on Cardaro as of June this year. 413 00:25:07,240 --> 00:25:11,840 Speaker 1: Cardano's expanding ecosystem can be accessed using various browser extension 414 00:25:11,880 --> 00:25:14,400 Speaker 1: while it's the most popular being the name e wallet, 415 00:25:14,480 --> 00:25:17,439 Speaker 1: which is seen over two hundred thousand downloads on Chrome 416 00:25:17,520 --> 00:25:21,359 Speaker 1: based browsers Note that there are over three point five 417 00:25:21,440 --> 00:25:25,800 Speaker 1: million unique Cardaro wallet addresses in total. Now, if you 418 00:25:25,800 --> 00:25:28,520 Speaker 1: want to learn more about Cardarno's ecosystem, you can check 419 00:25:28,560 --> 00:25:31,879 Speaker 1: out our video about the top Cardaro projects using the 420 00:25:32,000 --> 00:25:35,640 Speaker 1: link in the description. Now it's only been about four 421 00:25:35,680 --> 00:25:38,800 Speaker 1: months since our last covered Cardaro, but a lot has 422 00:25:38,840 --> 00:25:42,560 Speaker 1: happened since then. In May, Ada was one of the 423 00:25:42,640 --> 00:25:46,560 Speaker 1: fastest to recover after the crypto market crash resulting from 424 00:25:46,720 --> 00:25:49,680 Speaker 1: terrorist collapse. This might have something to do with the 425 00:25:49,720 --> 00:25:52,679 Speaker 1: fact that it was not nearly as exposed to terror's 426 00:25:52,920 --> 00:25:55,320 Speaker 1: U s T stable coin, which had found its way 427 00:25:55,359 --> 00:25:59,879 Speaker 1: into just about every major DeFi protocol in crypto. In 428 00:26:00,040 --> 00:26:04,480 Speaker 1: early June, Immergo and the Cardano Foundation released a decentralized 429 00:26:04,480 --> 00:26:08,639 Speaker 1: application back end for the Cardaro developer community, making it 430 00:26:08,680 --> 00:26:11,840 Speaker 1: easier for them to build new depths. I O h 431 00:26:11,920 --> 00:26:15,200 Speaker 1: K also announced that Dish Network would be leveraging its 432 00:26:15,280 --> 00:26:19,640 Speaker 1: Atala prism decentralized ID solution for the television and satellite 433 00:26:19,680 --> 00:26:24,040 Speaker 1: company's loyalty coin program. Note that Atala Prism is the 434 00:26:24,080 --> 00:26:28,520 Speaker 1: same decentralized ID solution being leveraged by the Ethiopian government 435 00:26:28,760 --> 00:26:33,080 Speaker 1: for educational credentials. I O h K even announced the 436 00:26:33,160 --> 00:26:36,920 Speaker 1: upcoming release of its own light wallet, dubbed Lace, which 437 00:26:36,960 --> 00:26:39,919 Speaker 1: will act as a one stop shop for the entire 438 00:26:40,000 --> 00:26:45,680 Speaker 1: Cardarno ecosystem. This includes integrated staking governance, and even direct 439 00:26:45,760 --> 00:26:50,399 Speaker 1: access to Cardaro's decentralized applications. At the end of June, 440 00:26:50,440 --> 00:26:53,960 Speaker 1: io h K announced that Cardano's Vassal hard fork would 441 00:26:54,000 --> 00:26:57,760 Speaker 1: be delayed by a month due to the discovery of bugs, 442 00:26:57,760 --> 00:27:01,240 Speaker 1: but noted that the Vassal test new would be coming soon. 443 00:27:02,160 --> 00:27:06,080 Speaker 1: Charles Hoskinson also testified in front of US politicians in 444 00:27:06,119 --> 00:27:09,879 Speaker 1: a hearing about crypto regulations, and we actually summarize that 445 00:27:09,960 --> 00:27:12,560 Speaker 1: hearing in another video and that will be down in 446 00:27:12,600 --> 00:27:17,000 Speaker 1: the description. In early July, the Vassal test net went live, 447 00:27:17,080 --> 00:27:21,040 Speaker 1: resulting in lots of ADA accumulation as investors awaited the 448 00:27:21,080 --> 00:27:23,959 Speaker 1: main net hard fork that was expected to occur a 449 00:27:24,000 --> 00:27:28,600 Speaker 1: few weeks later. Unfortunately, the Vassal main net hard fork 450 00:27:28,760 --> 00:27:31,640 Speaker 1: was delayed again at the end of July, and by 451 00:27:31,640 --> 00:27:35,360 Speaker 1: this point ADA holders were starting to become apathetic, as 452 00:27:35,440 --> 00:27:39,120 Speaker 1: per the lack of views on Cardano content related to 453 00:27:39,200 --> 00:27:43,040 Speaker 1: the delay. What's even more unfortunate is that this news 454 00:27:43,160 --> 00:27:46,439 Speaker 1: seems to have overshadowed an important update from I O 455 00:27:46,640 --> 00:27:49,560 Speaker 1: h K, and that's that the software company is working 456 00:27:49,600 --> 00:27:53,639 Speaker 1: on creating a quote family of side chains for Cardano, 457 00:27:54,000 --> 00:27:58,400 Speaker 1: including one that supports Ethereum smart contracts via the Ethereum 458 00:27:58,480 --> 00:28:03,200 Speaker 1: Virtual Machine. Now this is important because Cardano has had 459 00:28:03,280 --> 00:28:07,280 Speaker 1: a harder time attracting developers and liquidity due to its 460 00:28:07,400 --> 00:28:11,200 Speaker 1: use of Haskell, a coding language that is extremely secure, 461 00:28:11,520 --> 00:28:15,080 Speaker 1: yet not nearly as common as Solidity or Rust and 462 00:28:15,240 --> 00:28:20,320 Speaker 1: apparently very difficult to develop decentralized applications with, or so 463 00:28:20,520 --> 00:28:24,440 Speaker 1: I've read. As such, the release of one or more 464 00:28:24,640 --> 00:28:29,040 Speaker 1: Ethereum compatible side chains on Cardano could attract lots of 465 00:28:29,080 --> 00:28:33,840 Speaker 1: developers and liquidity to Cardano's ecosystem, all while making Cardano 466 00:28:34,160 --> 00:28:37,560 Speaker 1: more interoperable with Ethereum and other e v M chains. 467 00:28:38,000 --> 00:28:42,280 Speaker 1: Seriously keep your eyes peeled for this now. In August, 468 00:28:42,440 --> 00:28:46,040 Speaker 1: crypto friendly bank Signum announced that it would be offering 469 00:28:46,120 --> 00:28:51,200 Speaker 1: ada staking to its clients, underscoring the institutional interest in Cardano. 470 00:28:51,840 --> 00:28:57,440 Speaker 1: Note that Signum has over one thousand institutional clients. Charles 471 00:28:57,480 --> 00:29:00,520 Speaker 1: also revealed that the Vassel hard fork would likely occur 472 00:29:00,640 --> 00:29:03,280 Speaker 1: in September, and just a few days ago we got 473 00:29:03,280 --> 00:29:07,480 Speaker 1: confirmation that Vassal will officially occur on Thursday, the twenty 474 00:29:07,600 --> 00:29:11,840 Speaker 1: two of September, roughly one week after the Ethereum merge 475 00:29:12,000 --> 00:29:15,440 Speaker 1: is expected to be complete. As I mentioned earlier, the 476 00:29:15,520 --> 00:29:20,800 Speaker 1: vassal hard forks should significantly improve Cardano's smart contract scalability, 477 00:29:20,840 --> 00:29:23,840 Speaker 1: and if this improvement can be felt by users when 478 00:29:23,960 --> 00:29:27,920 Speaker 1: interacting with Cardano's depths, it's more than likely that Ada 479 00:29:28,080 --> 00:29:32,520 Speaker 1: will explode in a good way. As a cherry on top. 480 00:29:32,800 --> 00:29:36,920 Speaker 1: Robin Hood also recently listed Aida. Given that robin hood 481 00:29:37,000 --> 00:29:40,280 Speaker 1: has twenty three million users, this could add lots of 482 00:29:40,320 --> 00:29:43,680 Speaker 1: fuel to AIDA's rocket ship, especially if the Wall Street 483 00:29:43,680 --> 00:29:48,680 Speaker 1: Bets subreddit decides it's time to send Aida to the moon. However, 484 00:29:49,080 --> 00:29:54,120 Speaker 1: despite all of Cardano's amazing announcements, partnerships, and developments, Aida 485 00:29:54,320 --> 00:29:57,080 Speaker 1: is down more than fifty since our last covered the 486 00:29:57,080 --> 00:29:59,920 Speaker 1: project back in May, and it's not looking very pretty 487 00:30:00,160 --> 00:30:03,440 Speaker 1: on the long term price chart. This is for a 488 00:30:03,480 --> 00:30:07,640 Speaker 1: few reasons. First and foremost, Cardano is a large cap 489 00:30:07,720 --> 00:30:10,400 Speaker 1: aalk coin, and that means AIDA's price action is highly 490 00:30:10,440 --> 00:30:14,880 Speaker 1: correlated with BTCS case and point btcs year to date 491 00:30:14,920 --> 00:30:19,200 Speaker 1: price action looks almost exactly the same as aiders coin 492 00:30:19,280 --> 00:30:23,640 Speaker 1: market caps. Historical data also suggests that AIDA's circulating supply 493 00:30:24,040 --> 00:30:28,320 Speaker 1: has increased by around four hundred and fifty millions since May. Now, 494 00:30:28,400 --> 00:30:31,800 Speaker 1: if we assume an average price of fifty cents per 495 00:30:31,840 --> 00:30:35,479 Speaker 1: Ada during that time, it translates to around one hundred 496 00:30:35,480 --> 00:30:39,440 Speaker 1: and seventy five million dollars of potential cell pressure. Now, 497 00:30:39,520 --> 00:30:42,760 Speaker 1: this isn't actually all that much cell pressure for a 498 00:30:42,840 --> 00:30:45,400 Speaker 1: large capal coin, and it's an amount of cell pressure 499 00:30:45,560 --> 00:30:48,560 Speaker 1: that should be easy to absorb even in a crypto 500 00:30:48,640 --> 00:30:52,800 Speaker 1: bear market. Logically, then this means that the issue is 501 00:30:52,880 --> 00:30:56,680 Speaker 1: on the demand side. Although the number of native assets 502 00:30:56,680 --> 00:30:59,920 Speaker 1: on Cardano has increased by more than thirty percent since May, 503 00:31:00,240 --> 00:31:05,040 Speaker 1: almost every other demand metric has been moving sideways. For starters, 504 00:31:05,080 --> 00:31:08,440 Speaker 1: there's Cardarno's n f T trading volume, which fell off 505 00:31:08,480 --> 00:31:11,720 Speaker 1: a cliff in June, according to open c n f T, 506 00:31:12,040 --> 00:31:15,360 Speaker 1: a website for tracking Cardarno n f T s now. 507 00:31:15,440 --> 00:31:18,720 Speaker 1: This is significant because most of the native assets on 508 00:31:18,880 --> 00:31:22,520 Speaker 1: Cardano are apparently n f T s, suggesting that most 509 00:31:22,640 --> 00:31:26,920 Speaker 1: of the thirty percent gain occurred in June. What's more, 510 00:31:27,280 --> 00:31:30,560 Speaker 1: is the number of downloads for the Nami wallet browser 511 00:31:30,560 --> 00:31:33,800 Speaker 1: extension is the same as it was during my last 512 00:31:33,880 --> 00:31:38,000 Speaker 1: update about the project. The number of Cardarno staking pools 513 00:31:38,080 --> 00:31:40,760 Speaker 1: also seems to be the same and has even declined. 514 00:31:40,800 --> 00:31:45,680 Speaker 1: According to some Cardarno blockchain explorers. The total value locked 515 00:31:45,680 --> 00:31:50,120 Speaker 1: in Cardaro's DeFi applications has also dropped by almost seventy percent, 516 00:31:50,400 --> 00:31:55,400 Speaker 1: while AIDA's price only fell by around for This suggests 517 00:31:55,400 --> 00:31:58,280 Speaker 1: that the decline in tv L was caused by ADA 518 00:31:58,400 --> 00:32:02,360 Speaker 1: being removed from D five protocols, not just the decline 519 00:32:02,440 --> 00:32:05,959 Speaker 1: in aiders price. To be fair, this discrepancy can be 520 00:32:06,000 --> 00:32:09,880 Speaker 1: explained by the greater losses experienced by the Cardarno native 521 00:32:09,920 --> 00:32:14,760 Speaker 1: assets in these DeFi protocols, but this is arguably offset 522 00:32:14,960 --> 00:32:18,320 Speaker 1: by the increase in the number of de FI protocols. 523 00:32:19,040 --> 00:32:22,040 Speaker 1: What's harder to explain away, however, is that the total 524 00:32:22,120 --> 00:32:26,080 Speaker 1: number of depps deployed on Cardano has increased by one 525 00:32:26,440 --> 00:32:30,960 Speaker 1: since May, at least according to Cardarno crowd This could 526 00:32:30,960 --> 00:32:33,280 Speaker 1: again be because the website is not up to date, 527 00:32:33,360 --> 00:32:36,520 Speaker 1: but this seems to be the go to site for cardarodaps, 528 00:32:36,640 --> 00:32:40,200 Speaker 1: so I'm assuming it probably is up to date now. 529 00:32:40,240 --> 00:32:43,600 Speaker 1: The scariest demand side statistic I came across is the 530 00:32:43,720 --> 00:32:47,280 Speaker 1: number of unique wallet addresses on Cardano, which has only 531 00:32:47,360 --> 00:32:50,480 Speaker 1: increased by around two hundred and fifty thousand since May 532 00:32:50,680 --> 00:32:54,560 Speaker 1: according to Ada stat Note that this is a fraction 533 00:32:54,680 --> 00:32:57,760 Speaker 1: of how quickly new Cardarno wallet addresses were being created 534 00:32:58,000 --> 00:33:01,920 Speaker 1: in the past. The worst part is that Ada doesn't 535 00:33:01,920 --> 00:33:05,040 Speaker 1: seem to have a very high baseline level of demand, 536 00:33:05,320 --> 00:33:09,640 Speaker 1: as Cardano's debts only have around fifty thousand monthly users 537 00:33:09,680 --> 00:33:14,440 Speaker 1: in total according to sexplorer dot io. Now, this is 538 00:33:14,480 --> 00:33:17,920 Speaker 1: nothing compared to the hundreds of thousands of monthly users 539 00:33:18,120 --> 00:33:22,520 Speaker 1: individual adapts on B and B, wax Sealana, Ethereum, polygon flow, 540 00:33:22,640 --> 00:33:26,960 Speaker 1: rown in iOS, and other blockchains continue to see according 541 00:33:27,000 --> 00:33:32,600 Speaker 1: to dap Radar, which apparently doesn't track Cardarno dabs. Now, 542 00:33:32,640 --> 00:33:36,160 Speaker 1: even with these headwinds, Ada could rally as high as 543 00:33:36,160 --> 00:33:39,640 Speaker 1: a dollar as a result of ethereums merge and Cardano's 544 00:33:39,720 --> 00:33:43,320 Speaker 1: own vassal hard fork. This would work out to a 545 00:33:43,400 --> 00:33:45,920 Speaker 1: two x move in the short to medium term, which 546 00:33:46,000 --> 00:33:49,600 Speaker 1: is a realistic expectation, especially since AIDA's price action in 547 00:33:49,760 --> 00:33:54,680 Speaker 1: fiat and terms supports this target. There are additional macro 548 00:33:54,800 --> 00:33:58,000 Speaker 1: factors coming later this month that could take Ada and 549 00:33:58,120 --> 00:34:02,440 Speaker 1: other cryptocurrencies even higher or much lower, and you can 550 00:34:02,520 --> 00:34:05,120 Speaker 1: check out my video on coin Bureau clips about those 551 00:34:05,120 --> 00:34:09,239 Speaker 1: macro factors using the link in the description. Now, when 552 00:34:09,239 --> 00:34:12,800 Speaker 1: it comes to Ada's long term potential, this all depends 553 00:34:12,840 --> 00:34:15,840 Speaker 1: on Cardano's upcoming milestones, which can be found in the 554 00:34:15,920 --> 00:34:21,520 Speaker 1: official Cardaro roadmap, updates from Cardano's developers and interviews A M. A. S. 555 00:34:21,600 --> 00:34:25,920 Speaker 1: And updates with Charles Hoskinson himself. As many of you 556 00:34:26,000 --> 00:34:30,960 Speaker 1: will know, the Cardano roadmap consists of five stages called eras. 557 00:34:31,680 --> 00:34:35,840 Speaker 1: Cardano is currently in the Basho era, which focuses on scaling, 558 00:34:35,880 --> 00:34:39,640 Speaker 1: and it's not entirely clear when the Basho era will end. 559 00:34:40,400 --> 00:34:43,040 Speaker 1: You would think that it ends with the Vassal hard fork, 560 00:34:43,080 --> 00:34:46,600 Speaker 1: but apparently this is not the case. In a June 561 00:34:46,680 --> 00:34:50,359 Speaker 1: video detailing the history of Cardano, the narrator explains that 562 00:34:51,239 --> 00:34:56,120 Speaker 1: three and four will focus on scaling, which suggests Basho 563 00:34:56,239 --> 00:35:01,200 Speaker 1: will not end until sometime in Note that this is 564 00:35:01,320 --> 00:35:04,560 Speaker 1: much later than the end of twenty two estimate that 565 00:35:04,719 --> 00:35:09,200 Speaker 1: was given by Cardaro developers last December. I'll also quickly 566 00:35:09,200 --> 00:35:13,680 Speaker 1: note that another highly anticipated Cardanno scaling solution, called Hydra, 567 00:35:14,040 --> 00:35:17,279 Speaker 1: is expected to be complete sometime next year, and you 568 00:35:17,320 --> 00:35:20,640 Speaker 1: can learn more about Hydra by watching our previous Cardano 569 00:35:20,760 --> 00:35:25,239 Speaker 1: update using the link in the description. Now, as for Voltaire, 570 00:35:25,560 --> 00:35:29,400 Speaker 1: Cardano has technically entered this era as well, and Charles 571 00:35:29,440 --> 00:35:33,120 Speaker 1: mentioned in a June video about Cardano's roadmap and governance 572 00:35:33,400 --> 00:35:36,920 Speaker 1: that Project Catalyst will soon be linked more closely to 573 00:35:37,200 --> 00:35:41,360 Speaker 1: the Cardarno blockchain in preparation for protocol level governance of 574 00:35:41,520 --> 00:35:51,000 Speaker 1: Cardaro itself. The details about the first stages of Cardano's 575 00:35:51,000 --> 00:35:54,200 Speaker 1: protocol governance should be announced by the end of this month, 576 00:35:54,280 --> 00:35:57,719 Speaker 1: and if I understand correctly, the primary focus will be 577 00:35:57,760 --> 00:36:00,840 Speaker 1: the establishment of a so called member US and merit 578 00:36:00,880 --> 00:36:05,080 Speaker 1: based organization which will table proposals with AIDA holders as 579 00:36:05,120 --> 00:36:10,000 Speaker 1: the voters. Charles mentioned in another June video that Cardano 580 00:36:10,200 --> 00:36:13,640 Speaker 1: is currently focused on making things quote open source in 581 00:36:13,680 --> 00:36:16,879 Speaker 1: the context of governments, meaning that the AIDA community will 582 00:36:16,920 --> 00:36:20,920 Speaker 1: play a more active role in the direction of the project. Obviously, 583 00:36:21,120 --> 00:36:25,160 Speaker 1: Cardano's code is already open source. In a July a 584 00:36:25,400 --> 00:36:28,839 Speaker 1: m A, Charles revealed that there's a chance Cardaro will 585 00:36:28,880 --> 00:36:32,320 Speaker 1: partner with algorand after I O h K interim director 586 00:36:32,360 --> 00:36:35,520 Speaker 1: of Architecture John Woods left the company to join the 587 00:36:35,560 --> 00:36:40,600 Speaker 1: Algorand Foundation as chief technology Officer. Funnily enough, Charles also 588 00:36:40,640 --> 00:36:43,720 Speaker 1: seemed to imply that Cardaro is not open to partnering 589 00:36:43,840 --> 00:36:47,000 Speaker 1: with Salana and made an amusing tongue in cheek joke 590 00:36:47,120 --> 00:36:50,560 Speaker 1: about Salana's constant outages. I'll leave a link to that 591 00:36:50,680 --> 00:36:52,839 Speaker 1: A M A in the description so you can hear 592 00:36:52,880 --> 00:36:56,800 Speaker 1: it for yourself now. In a more recent video about 593 00:36:56,840 --> 00:37:00,080 Speaker 1: the Vassal hard fork, Charles said that the twenty and 594 00:37:00,160 --> 00:37:04,040 Speaker 1: of September will be quote just another day, and said 595 00:37:04,080 --> 00:37:07,760 Speaker 1: that he's happy Cardano has remained committed to the quality 596 00:37:07,880 --> 00:37:12,399 Speaker 1: and security of its transactions. Oddly enough, he didn't say 597 00:37:12,480 --> 00:37:16,520 Speaker 1: much about the scalability improvements Vassal will bring, and this 598 00:37:16,640 --> 00:37:20,360 Speaker 1: echoes something one of Cardano's core developers said during a 599 00:37:20,440 --> 00:37:24,400 Speaker 1: mid month developer update in June, specifically that quote the 600 00:37:24,480 --> 00:37:28,120 Speaker 1: effects of the Vassal hard fork will not be instant. 601 00:37:29,000 --> 00:37:31,319 Speaker 1: He also made it sound like it will be up 602 00:37:31,360 --> 00:37:35,960 Speaker 1: to the DAPT developers to implement the scalability improvements of Vassal. 603 00:37:37,040 --> 00:37:40,560 Speaker 1: This brings me to the potential concerns I have about Cardano, 604 00:37:40,719 --> 00:37:44,080 Speaker 1: and my first is, of course, the upcoming Vassal hard fork. 605 00:37:45,040 --> 00:37:48,000 Speaker 1: This is simply because I and many other AIDA holders 606 00:37:48,040 --> 00:37:52,399 Speaker 1: have PTSD from what happened after the last highly anticipated 607 00:37:52,440 --> 00:37:57,680 Speaker 1: Cardano hard fork last September that introduced smart contracts. In short, 608 00:37:58,000 --> 00:38:03,080 Speaker 1: what happened was that expectation were extremely high. Everyone was 609 00:38:03,120 --> 00:38:06,120 Speaker 1: expecting there to be dozens, if not hundreds, of depts 610 00:38:06,280 --> 00:38:11,920 Speaker 1: deploying on Cardarno. Instead, concurrency challenges delayed the rollout of 611 00:38:12,080 --> 00:38:16,759 Speaker 1: Cardarno's debts and continue to cause user experience issues to 612 00:38:16,960 --> 00:38:20,600 Speaker 1: this day. All the aider holders who decided to hoddle 613 00:38:20,640 --> 00:38:25,280 Speaker 1: through the Autumn one dip were probably disappointed when Cardarno 614 00:38:25,400 --> 00:38:29,640 Speaker 1: DAPs started to deploy earlier this year, notably Sunday Swap, 615 00:38:29,760 --> 00:38:33,440 Speaker 1: which went live in January. Now, as someone who dabbles 616 00:38:33,480 --> 00:38:36,080 Speaker 1: with Cardaro DAPs, I can tell you that the user 617 00:38:36,160 --> 00:38:40,239 Speaker 1: experience is not up to standard. This is why there 618 00:38:40,360 --> 00:38:44,000 Speaker 1: is so much riding on the Vassal hard fork. Many 619 00:38:44,120 --> 00:38:48,360 Speaker 1: AIDA holders, including myself, are hoping, literally praying, that it 620 00:38:48,400 --> 00:38:52,040 Speaker 1: will fix or at least improve the user experience on 621 00:38:52,239 --> 00:38:56,279 Speaker 1: Cardarno's debts. This puts us in the same position that 622 00:38:56,360 --> 00:38:59,600 Speaker 1: we were before last September's hard fork, and that is 623 00:38:59,640 --> 00:39:03,000 Speaker 1: discon certain this might actually be why the cardar No 624 00:39:03,160 --> 00:39:06,840 Speaker 1: team has been wary of promising too much with Vassal. 625 00:39:07,440 --> 00:39:09,680 Speaker 1: They don't want the community to be as hyped up 626 00:39:09,680 --> 00:39:12,680 Speaker 1: as it was with the Alonso hard fork, especially since 627 00:39:12,800 --> 00:39:16,200 Speaker 1: Vassal is the most significant hard fork for Cardaro to date, 628 00:39:16,480 --> 00:39:20,560 Speaker 1: meaning there could be technical issues. This ties into my 629 00:39:20,719 --> 00:39:25,880 Speaker 1: second potential concern, and that's regulation. Now, maybe it's just me, 630 00:39:26,160 --> 00:39:29,920 Speaker 1: but the Cardaro team seems to have been hyper focused 631 00:39:29,960 --> 00:39:33,880 Speaker 1: on governance over the last few months. This could just 632 00:39:34,000 --> 00:39:37,480 Speaker 1: be the team moving their focus from scalability to governance, 633 00:39:37,560 --> 00:39:42,120 Speaker 1: but the regulatory climate suggests otherwise. If you've watched any 634 00:39:42,120 --> 00:39:45,120 Speaker 1: of our recent videos about the SEC, you'll know it 635 00:39:45,239 --> 00:39:50,000 Speaker 1: believes that basically every cryptocurrency besides Bitcoin's BTC is a 636 00:39:50,080 --> 00:39:53,680 Speaker 1: security like a stock in a company, and must therefore 637 00:39:53,760 --> 00:39:58,000 Speaker 1: be regulated a k a. Destroyed, and this regulatory scrutiny 638 00:39:58,120 --> 00:40:02,160 Speaker 1: even seems to apply to etherory eth now. Polka dot 639 00:40:02,160 --> 00:40:05,880 Speaker 1: founder Gavin Wood, who's also an ethereum co founder, seems 640 00:40:05,880 --> 00:40:08,400 Speaker 1: to have been the first to realize that the SEC 641 00:40:08,640 --> 00:40:11,880 Speaker 1: was coming and has been hyper focused on decentralizing Polka 642 00:40:11,960 --> 00:40:17,040 Speaker 1: Dot ever since. I suspect Cardano is in a similar situation, 643 00:40:17,239 --> 00:40:21,960 Speaker 1: hence the sudden acceleration in governance development. The difference is 644 00:40:22,080 --> 00:40:24,960 Speaker 1: that Charles Hoskinson has chosen to go on the offensive 645 00:40:25,040 --> 00:40:28,200 Speaker 1: by flying to Washington, d C. To meet with politicians 646 00:40:28,239 --> 00:40:31,680 Speaker 1: head on and convince them to pass crypto regulations that 647 00:40:31,760 --> 00:40:36,920 Speaker 1: will benefit not just Cardano but all cryptocurrencies. The question 648 00:40:37,160 --> 00:40:41,680 Speaker 1: is whether Charles and other crypto lobbyists can convince lawmakers 649 00:40:41,719 --> 00:40:46,879 Speaker 1: before a crackdown occurs, and I'm honestly not so sure. Now. 650 00:40:46,880 --> 00:40:50,760 Speaker 1: The SEC has a habit of handing out enforcement actions 651 00:40:50,840 --> 00:40:53,680 Speaker 1: at the end of its fiscal year, which is this month, 652 00:40:54,040 --> 00:40:57,280 Speaker 1: and you can bet that there are many crypto projects 653 00:40:57,400 --> 00:41:01,160 Speaker 1: on its hit list. This doesn't me that Ada is 654 00:41:01,160 --> 00:41:04,040 Speaker 1: on that list, but as a large crypto project, it's 655 00:41:04,080 --> 00:41:08,120 Speaker 1: definitely within the line of fire. And recall that e 656 00:41:08,320 --> 00:41:12,560 Speaker 1: Toro delisted Ada for US users late last year, citing 657 00:41:12,680 --> 00:41:17,239 Speaker 1: unspecified regulatory concerns. While it's true that they may have 658 00:41:17,400 --> 00:41:20,680 Speaker 1: just been triggered happy, one can only assume they consulted 659 00:41:20,719 --> 00:41:24,480 Speaker 1: their legal advisors. This means that Cardano will have to 660 00:41:24,520 --> 00:41:28,480 Speaker 1: move quickly to decentralize its governance as much as possible, 661 00:41:28,719 --> 00:41:31,719 Speaker 1: and I reckon this is important to do regardless of 662 00:41:31,760 --> 00:41:37,880 Speaker 1: the regulatory implications. Luckily decentralization is something Cardano does best 663 00:41:38,760 --> 00:41:41,600 Speaker 1: in some then it's going to be a very interesting 664 00:41:41,640 --> 00:41:45,239 Speaker 1: September for Ada. If the Vassal hard work manages to 665 00:41:45,280 --> 00:41:49,279 Speaker 1: meet or even exceed the expectations of ADA holders, we 666 00:41:49,360 --> 00:41:53,359 Speaker 1: could see it outperform every other large cap cryptocurrency by 667 00:41:53,400 --> 00:41:58,560 Speaker 1: percentage terms and then some. If Vassal fails to meet 668 00:41:58,560 --> 00:42:01,920 Speaker 1: the expectations of ADA holder, however they or rather we 669 00:42:02,239 --> 00:42:05,000 Speaker 1: could be waiting for another year or two before the 670 00:42:05,040 --> 00:42:09,680 Speaker 1: scalability improvements we're waiting for come around now. I for one, 671 00:42:09,960 --> 00:42:13,000 Speaker 1: am happy to hoddle my aidap, but I really rather 672 00:42:13,160 --> 00:42:17,360 Speaker 1: not see it continue to crash. So let's hope Vassal 673 00:42:17,800 --> 00:42:21,560 Speaker 1: is a success. Thank you so much for listening to 674 00:42:21,600 --> 00:42:24,239 Speaker 1: the coin Bureau podcast. If you'd like to learn more 675 00:42:24,280 --> 00:42:28,080 Speaker 1: about cryptocurrency, you can visit our YouTube channel at YouTube 676 00:42:28,120 --> 00:42:31,040 Speaker 1: dot com forward slash coin Bureau. You can also go 677 00:42:31,120 --> 00:42:33,880 Speaker 1: to coin bureau dot com for loads more information about 678 00:42:33,880 --> 00:42:36,520 Speaker 1: all things crypto. You can follow me on Twitter at 679 00:42:36,600 --> 00:42:39,800 Speaker 1: at coin bureau or one word, and I'm also active 680 00:42:39,840 --> 00:42:41,680 Speaker 1: on TikTok and Instagram too.