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| "text": "And then I don't think we should rule out the potential for [REDACTED] like covenants or things like that that can improve access to the base layer without kind of risking decentralization that you would get if you were in favor of say block size increases, right?", |
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| "text": "I do think that there are covenants or potentially zero knowledge proofs or something, we'll see what happens.", |
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| "text": "But as say we if we have an environment where Bitcoin's kind of persistently used by 10x more people and high fees become a more persistent thing, um, that could change incentives a little bit uh towards a fork that that maybe finds an efficiency uh to to strictly improve it rather than you know you know improve it in one way but hurt the decentralization in another way.", |
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| "text": "So I'm still generally optimistic, but even if Bitcoin just stays the way it is, I I think people are sometimes too negative on custody because you still can have custody that is um more decentralized or more secure than you have and quicker and kind of backed up by software, like you know, rather than purely credit, yeah.", |
| "start": 53.44, |
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| }, |
| { |
| "text": "I think there's a couple ways to approach that.", |
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| "end": 168.08, |
| "start_frame_idx": 4973, |
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| }, |
| { |
| "text": "One would be that when you see a lot of smart people into crypto, a lot of it is because they themselves can benefit from it.", |
| "start": 168.32, |
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| { |
| "text": "They they you know, they're the ones that are kind of issuing tokens and then basically being able to sell them before they've actually built a product.", |
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| { |
| "text": "So one of the big challenges in the crypto space is that if you look at traditional venture capital, uh, you know, accredited investors or or or founders of companies themselves are locking up their", |
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| ] |
| } |
| } |
