• Intro on the YouTube live channel 0:00

• Who are we and what is this? 02:25

• Verte Coin 05:03

• Transaction speed on EOS 06:13

• A comparision with Bitcoin 08:16

• EOS technology inner workings 12:00

• Vitalik Buterin on EOS 13:16

• Decentralization in Graphene blockchains 17:33

• BitShares DEX 21:44

• Liquidity in BitShares 24:25

• Merkle trees 26:37

• Dan Larimer questioning Vitalik Buterin about Ethereum. 29:34

• Public view of Dan Larimer explained 40:48

• Ethereum's missing magic bullet 43:57

• Doubts on EOS explained 47:21

• Dan Larimers build BitShares and Steem 51:24

• Does Dan leave his projects? 53:49

• Is EOS delivering on Ethereum's promises? 55:43

• Gamification mechanisms 59:00

• What Steemit Inc. can learn from EOS 60:57

• You can join us right now! 63:38

A transcript with chapters, pictures, videos and links!

Intro on the YouTube live channel

@officialfuzzy: We are live and we were talking about EOS and all kinds of cool stuff about it: cool stuff about Steemit , cool stuff about Bitshares, there's cool stuff about all the Delegate Proof of Stake chains out there that do exist and the public is aware of them.

@bycompoundfilms: You know what the the great thing is that we are now at 111 subscribers on the YouTube channel now on . So far we have three likes on the video and - and we have a couple of comments about translations and transcriptions people are excited about. Well, Christa Peterson says so excited!

@officialfuzzy: Well, we're excited to see you guys too. We're here to start talking about crypto related things, that maybe the public hasn't really been made aware of to the degree that they perhaps should. We started out with Bitcoin, and we have this amazing Blockchain there, that does some really amazing stuff for for first generation technology right. It's amazing that it's up to 92.89 billion market cap.

The BTC dominance is 54.8 in the current crypt of ecosystem. So that means that 45.2 percent of all tokens - are making up another 90 billion dollars or approximately somewhere around there.

So we have a huge ecosystem of crypto currencies, but most of them are doing amazing things on square wheels. Is that safe to say?

Who are we and what is this? 02:25

@bycompoundfilms: Just to inform the people what's going on right now? This is a EOS talk and we plan to live stream every Tuesday, informing the people of what's going on with EOS and and the great thing is that we have the great fuzzy here with all this insight and is mega huge brain and he's got all this Information in it and - and we want to hear about it -

@officialfuzzy: I won't go that far I'll - say - I'm an experienced guy in the ecosystem and I've learned every day. What I don't know, but thank you tell my wife all those things.

@bycompoundfilms: Put your hands together for fuzzy haha. And we also have Steem power pics as a special guest today, so we can touch on multiple topics today.

Now, if you look on your screen, you will see a EOStalk.io, and you can go ahead and join up on the discord channel. The link is a OS talk.io, fuzzy I'll hand it over to you and and go ahead. Tell him about this great website that we're looking at right here.

@officialfuzzy: Well, what we're looking at today is the EOS is down 2.66 percent, and is it currently at 0.55 USD, so fifty five cents, each EOS token, that is down what from a peak of around five over five dollars.

So it's gone down about ten times from the some of the earliest days and it's around eight, it's the the day, zero of the sale they it was around eighty cents per token. So you can get them at, is in a pretty nice discount, considering that they already have of blocks that are going at 0.5 seconds and irreversibility at 0.75 seconds for those blocks, to keep it in an easy mode for people. That means it's a very fast chain and it's a very secure chain. I hope that makes sense.

@bycompoundfilms: Definitely you know, because are the only fast chain that I know is you know putting a chain on a fast running dog. So it's good to hear about some fast things out here. I want to throw in something; gammon said the future of, and I don't know if this is off topic, but I'm just throwing it out there to you. He says the future of VTC coin. How? How is it going to be?

Verte Coin 05:03

@officialfuzzy: VTC coin, I believe is Verte coin I'll say this they've got a lot of people who ask about it. I will also say that I believe that every technology, except maybe bitcoin and litecoin, and a few others - are going to want to move to very, very fast transactional systems.

I'm thinking that it's definitely possible that someday somebody comes out with a new Bitcoin fork that offers that and Verte coin and all these communities they're the power structure. So Verte coin. How will it be how I believe their community will adapt to the ecosystem as it changes. If you're not afraid to utilize the ledger, which is the underlying value proposition for Verte coin, the people who HODL and the brains that they have? If you expect that as an investment and give them the ability to govern themselves and change with the with thet imes, vert coin will be doing very.

Transaction speed on EOS 06:13

@bycompoundfilms: Well just to reiterate just to kind of fill in the blanks a little bit. Can you tell them what how many transactions per second Bitcoin can do and how many transactions per second EOS can do?

@officialfuzzy: I think Bitcoin tops out at like and I'm being generous. I believe it's 28 per second,

@bycompoundfilms: it's actually lower, but cool.

@officialfuzzy: Well, I've yeah! I'M being generous, I've heard also seven, it's more a second but I, but I tend to be conservative and generous because you know because I haven't run the things myself, but I've heard seven seconds too. So let's say it's 28 per second, let's give it 4x of that.

That's still pretty slow right. Thats why you have people who are trying to to patch it up and and do other things on the protocol, because, like the lightning Network - and you know forking it to new things -

Yeah Akrid, you're, 100 % - right. I've heard also it's not 30 per second, I've heard 30 per second , but I've also heard - and this is from Dan 500 , so even with 500 per second. What Visa, at least from what I've heared at least, is somewhere like 40,000 transactions per second.

So how do you do that with that? How do you have all these smart contracts that are all going to require that right? And if they can't, they can't do it. So you have with many many CPUs

A comparision with Bitcoin 08:16

@steempowerpics: Fuzzy, that's sort of the discussion that comes up to when you hear people talking about Bitcoin And how it was originally designed to be say, like a commerce token, some of the people can actually use to change and bias. Nothing back in the day was probably good. The guy, you know this story, uses 10,000 bitcoins to buy a pizza up in New York and was kicking himself because of the value of them today.

But going forward, if I want to transfer a piece of a Bitcoin from myself to someone else, and I got to wait an hour. There's no way you can go to a Starbucks and use a couple satoshis to buy a cup of coffee and stand there waiting hour for the transaction to clear through to have your cup of coffee, that's what the difference we see.

People need understand the different kinds of transactions speeds and how that relates to the real world and doing commerce or business.

@officialfuzzy: And also - and I agree with you - 100 %. But I will also say just in addition to that is: Bitcoin and these other services can be faster. You know how, by adding another layer on top of them or a centralized point in there.

Now, that's fine and those ecosystems will exist right so accommodate those, but also we should also consider that there are things like Bitshares out there, that are a decentralized exchange already, where you can hold those tokens right so so you could actually have it where Bitcoin but yeah. They have fast service and they offer their services and people still use it. But then you have the opportunity and the option for people who who don't want to put their hands there, all their trust in a centralized entity that just so happens to use Bitcoin and they store it on their side to make it faster.

Does you know to spend they use the same legacy technologies that that blockchain is is trying to you know, make make obsolete? Let's just say it that way right, but you can you can do it that way, but you can also do it with a more decentralized system right and that's where I think that we're moving into with smart contracts and and smart coins and and we're going to Have all these options but yeah it can be slow if you do it the way it's supposed to be done to be more secure.

But unfortunately, most people today, what do they do? They don't care about their security at all, so we almost have to... it sucks right, um, you know.

But every time you see people taking selfies and stuff on you know, the stars, don't we think that they're trying to probably get everybody to take selfies because they have technology, to scan our faces and know where we are all the time? It' probably part of the things that they're pulling from our phones and all the stuff that we know.

@bycompoundfilms: Did we mention that the EOS transaction speed?

@officialfuzzy: Yeah, 0.5 seconds

@bycompoundfilms: And how many transactions per per second?

@officialfuzzy: Well, that's the thing, they are doing things in private, apparently from what Dan saying - and I have no reason to not believe to him, because despite most people thinking he's a scammer, I've never known him to be a scammer.

But with that said, he said that it's 0.5 seconds and I've heard him say a hundred thousand up to a million transactions per second.

@bycompoundfilms: That's pretty fast.

@officialfuzzy: It's really fast! That's flash fast baby

EOS technology inner workings 12:00

@bycompoundfilms: Toronto Blue Jay says how can a EOS be that much faster? Is it safe or really blockchain?

@officialfuzzy: Yes, it is. They're, using a mixture of Tendermint and delegated proof of stake. And they're both similar to each other, and they take basically... Dan likes to take things that he thinks, or you know, will make things better and put them together. If, at all possible and he's a master, he's one of the blockchain masters man, I've got to give it to him.

@bycompoundfilms: Jim P says with 100 CPUs, it's 1 million, but you can scale higher, I think.

@officialfuzzy: Of course, they'll be able to scale scale higher. And the crazy thing is if they really have billion dollars to fund things, a lot of the funding that's going to go into this stuff is going to go into making it as efficient as possible.

So once we have more people who are on board thinking about this stuff. It's a big deal,

Vitalik Buterin on EOS 13:16

original article with video

@bycompoundfilms: and so just to just to show this article response to Vitalik on EOS. Can you go into depth about that?

@officialfuzzy: I can talk a little bit about it. I would I would love people to be able to listen to it, though if they can listen to you have Vitalk answer to this. Just this part,

@bycompoundfilms: yeah perfect, I can play it I'll, go ahead and play it if that's enough. I think it's about half..

@officialfuzzy: Yeah go ahead.

@bycompoundfilms: and play it for you guys.

[video playing]

@officialfuzzy: Okay, stop it real, quick! Sorry! I just got to stop it real quick.

Did you hear how everybody yelled centralized centralized centralized? Did you hear that?

@bycompoundfilms: Dead air?

@officialfuzzy: Oh really, I heard it perfectly, but maybe you can fix it. Oh Chris, the hurt he can edit it after the point.

@bycompoundfilms: Well, people heard it. Krista says she heard it.

@officialfuzzy: Oh okay, well you'll get to listen to it again, buddy! I just want you to. I want to back up okay if you can back it up. I'm sorry for doing this, but I want to kind of dissect that just real quick because everybody you heard some people going centralized, centralized centralized like they like they wanted it to be heard that it was centralized. But if you can really quick, do you have that um image that I sent you earlier?

@bycompoundfilms: I don't apologies.

@officialfuzzy: Hold on a second. Let me grab before you. I mean this stuff can be edited out after this video play the video again

[Video again]

Okay. So what that means is that you are participating in the EOS Network and you do not have a phone, so you do not have a node that is processing all of the transactions.

@officialfuzzy: If you could stop it real quick. Can you yeah?

Decentralization in Graphene blockchains 17:33

@bycompoundfilms: Definitely I'm about to pull up that picture, but go ahead and yeah people can hear it?

@officialfuzzy: So he was talking about how essentially the blocks that are determined on that we don't have. You have to have a full node, that's produced in producing the blocks, and it's there's all this trust just there right. But if you even dig into this paper - and I wanted to show people this paper - because it's not - I want to show them that I'm not an I'm, not a coder, but I follow what people were talking about and I understand what's going on, because I've followed it for so long.

So when you look at this, I would urge everybody to go to google and write up and search for this and read it themselves. Maybe we can provide them a link to that like in the after part of this.

So whenever you look at at this, we not only do we have more decentralisation, because if you look at Steem and delegated proof of stake, there's 20 there's there's 21 or 20 witnesses for us for Steem right? There 17 for delegating proof of stake of Bitshares. And then you look how they have such even state power in the network, so that's close to even power in the network right?

And then you look at these other ones. Okay, now waves: okay, there's all you need is two polls to take control of the entire ecosystem. Ethereum proof of work you need three to take control of it. And bitcoin is the best of those at four.

If we're talking honestly about the decentralisation of power in the ecosystem, what Dan realized was that centralization has strengths, but it also has weaknesses. You have to balance centralization and decentralization.

So when you look at Bitshares it's a balance of decentralization and centralization, it has 17 nodes in 73 on standby. But it also has the ability for all the light clients to potentially be be participating in this checking too, in the checking of the network.

And you have people who run their own full nodes and can check it against what's going on. So there's even more checks and balances in the ecosystem. And then Steem, of course, is going to be very similar. It has 20 witnesses and 68 on standby. Think about how many on standby. That's an important number right? Because if you consider this they're not just going to come in like in waves, where it's 73 on standby. You're going to come in as a tiny slice, you're going to come in you're going to have equal stake. From the word, go, as long as you've been trusted in the ecosystem. So you better not screw the ecosystem over. You better have a profit incentive for people right or you're, going to end up hurting yourselves as witnesses.

So it's very important and - and I wish that Vitalik would talk about these things. Because I know from the past Dan and him have talked about these things. And I feel personally like maybe he should have talked about that, and maybe he didn't. So it's hard!

BitShares DEX 21:44

Well, just so everybody knows: Bitshares has its own front-end user interfaces that that are plugged into the Bitshares DEX. So you have openledger, you have Rudex. There was a freedom ledger at one point in time. I'm not sure if that's still up and running or not, but they they came up with these services that can just plug in to Bitshares, and they can a centralized exchange can run on Bitshares and that, if you know something ever happens to them well, you still have your IOU - and you know you know you - it's still something at least they can't say. Oh, we don't know right?

So even if the worst case scenario there's that, but the cool thing is with Steemit it's a similar kind of thing right. You have busy.org now busy or might not go down all the time, but if Steem, the blockchain itself is going down all the time and that's a bigger problem.

But if the front-end user interfaces and the services that that provide them go down all the time, that's bad for the person who's providing that service, but not bad for the chain. Think of it kind of like a block Explorer on any other blockchain. You can have multiple [that[ just shows the data.

@steempowerpics: Now in comparison to the charts that are up with Bitshares, ethereum etc. If EOS was up on this graphic as well, how would the balance be very similar to Bitshares and Steem, or is there a different balance?

@officialfuzzy: I think they're going to come out with 21 witnesses or producers, so it would be very similar on that chart, but they were probably as they've been explaining and you can probably know whenever you read it read about it. There's - and I don't have that document tonight, but maybe we can get it for next time, but they actually talk about how I think of SamaPuha on Steemit he posted something that I thought was a really good article about EOS producers will provide many things, so they're likely going to be an alliance of different services that come together as a single producer,

Liquidity in BitShares 24:25

@bycompoundfilms: Jun P, says: Bitshares needs more liquidity. I can't buy my EOS on BitShares.

@officialfuzzy: Yeah Jun. You know it's it's crazy, because we're in this interesting place of Bitshares that um man, maybe we should call these fuzzy talks because. I don't just talk about it in general that you can bring up that you want to bring up. BitShares needs more liquidity. It's one of those things where it has more liquidity as far as transactions per day than Bitcoin, but we still need more liquidity because we offer so much. You know what I mean like a ledger where you can create pretty much any pairings is kind of a lot of options,

@steempowerpics: But also in regards to the EOS. We have to remember that it was just listed about ten days ago over on the BitShares DEX.

@officialfuzzy: Oh that's true! That's true!

@steempowerpics: You know they did cause deposits for a while. Whatever the issue is, I don't think deposits have been activated again, but you can still trade internal mean by, but it's I think, incoming deposit less are still possible.

@officialfuzzy: Really. Okay. Well, I'm glad to know that man see. You know something I don't.

@steempowerpics: It happens.

@officialfuzzy: No I'm glad man. This is what it's all about.

@steempowerpics: I mean me knowing something.

@officialfuzzy: Well, that's man drop the info on people's ears. Let them hear,

@bycompoundfilms: The gospel, the crypto gospel.

@officialfuzzy: As stated by Steem, power picks Steem.

@bycompoundfilms: You got anything to say before before I show this next article?

@steempowerpics: No we're just trying to follow up and look and see if they had an update on it. As far as the tokens being opened. They did put something out on the 9th of October, but it's still coming it might be still pending.

Merkle trees 26:37

@bycompoundfilms: Fuzzy. Can you explain what a Merkle tree is

@officialfuzzy: Yeah, but I would love to have a picture, but I'll just say this: if you think of it think of a box and when you put my name in it, it comes out as gobbly gook, just some weird hash is what we call it.

Not the kind of hash that some people might think. You're giggling, stop I'm talking about the hashes that that long string of of different characters. So whenever you have those different characters there, now imagine I can put that through another box and another box and another box, and I can create like if there's multiple transactions, I can actually create trees.

Like you can unlock that tree and now you can go down to the next rung and unlock that tree, and you can go down with and unlock this tree and now you know that all the data depends on itself at the very top. And if that hash is not correct, then that the data is corrupted right?

But if all that data below is correct, that hash will represent what it's supposed to say right? That's like when you do that when you download a torrent or something which I've never downloaded illegal ones. But whenever I would go out and download like live events or something right?

You could actually see there's a hash there and when you download that you can see, that's it's the same, similar principle, but it's applied to a blockchain and it makes it so you can store a bunch of data like trees of data? That's why they call them Merkel trees and why it's so hard to show you without a picture.

But what they do is they enable you to make sure that previous data on in the blockchain sense is accurate right? And that, you can actually ensure that it's accurate just because that one top piece of data says so. And if it were changed you would know that that was now incorrect, essentially. That's what a Merkel tree does. It's a mathematical structure.

Now I wish I hope I don't didn't murder that somebody like Dan would do a wonderful job explaining it probable, even without a picture.

Dan Larimer questioning Vitalik Buterin about Ethereum. 29:34

@bycompoundfilms: So I just pulled up the video Dan Larimer of Invictus asked the tough questions about Ethereum.

@officialfuzzy: Okay, so you heard a little bit about from what the tack was talking about there. So let's go ahead and listen to this, it's an oldie but goodie. And I hope that everybody who checks this out, they listen to this, this old one and they you can see right below what it's called. So look it up on YouTube.

@bycompoundfilms: Sorry, about that I had a mute conelectric a little bit. But just to kind of give some some background. So Dan Larimer is the guy behind Steemit, Bitshares, EOS.

And Vitalik is the guy behind ethereum, so these two guys are here together in this video, so I just wanted to kind of get that background.

[Video playing]: Daniel Larimer: Hello. My name is Daniel Larimer, the CEO of Invictus innovations, the company behind Bitshares. I was recently at the North American Bitcoin conference in Miami where everyone was talking about Ethereum. Now I've been receiving a lot of questions about Ethereum. While I was at the conference, I had an opportunity to ask some questions from Vitalik one of the lead developers of Ethereum. We got those questions on tape and I'd like to present his answers in this video and then provide my own commentary on his responses.

Dan Larimer: How are you going to handle doing everything that all these blockchains are doing on a single blockchain? It seems like all you care about is names, all you care about is one smart contact, all you care about is gambling. Why do you have to process all the transaction of the New York Stock Exchange?

Vitalik Buterun: Okay, so we actually have several options at different levels at which you can to bring your own decentralized application into Ethereum. So level 1 is: let's have the entire database inside of a contract, and let's roll the reputation into the contract. So data inside, computations inside.

Level 2 is: let's have the data be off chain where we have data organized in this merkle-tree structure, where the root is on chain. And then when you want to update it, the contract itself would ask for a merkle-bridge and it would ask for a new merkle-bridge sort of like a 'div' and it would actually validate the 'div'. (didn't Vitalik mean diff?)

The ieda there would be that you wuld have data off-chain, computation on-chain.

Third [level] option is to have something off-chain but to use the Etheruem scripting language to do trust free, cross-chain exchange between all of them.

Daniel Larimer: My first question had to do with the scalability of Ethereum. If Ethereum is going to process all the different transactions for every possible decentralized autonomous company, why should someone only interested in domain names or gambling have to process the complete transaction volume of the New York Stock Exchange? I was unhappy with Vitailk's answer because he didn't actually answer the question. Specifically, he mentions an off chain data stores...

@bycompoundfilms: Go ahead, fuzzy

@officialfuzzy: He just sent a DAC right there. He just said DAC right there and it's important to let you guys all know that a DAC is a decentralized autonomous company, co-op community. So that's kind what it means. So please continue.

Daniel Larimer: [data stores] and Merkel trees as a way of keeping the data off chain and yet validating it on chain. The problem is that you cannot actually do that. All the data has to be on the local machine, even if it's not stored in the blockchain and just the merkel root is in the blockchain, the data still has to be there. Or every node in the network. In order to validate the blockchain is going to have to query an external data source that would be unsustainable and centralizing. What, if that data source is wrong or unavailable, then the network couldn't actually be valid as you're a quick. Every time I talk, italics second possibility was to use cross chain training style. You guys said click-click-click-click people were here, it's probably going what

@bycompoundfilms: It's because, I said, click and what I meant was like when we say click. It'S like a group like a like a posse or something.

@officialfuzzy: Ah I see I see yes, it's it's kind of like that. It's when think about any service like Bitcoin would be a service in and of itself for value transmission. So a DAC would be a value transmission service and Bitcoin would be in that category of DAC right? All of these other tokens that their only real service is that value storage and transactional system. That would be where they, where they live in those categories of DACs.

In the context of what he's saying, I just wanted to make that clear. Because what he says in there is all of these different chains exist. He's saying: how are you going to have it all on one chain? And he didn't see it in the early days, how they were going to do it with Ethereum. And he was pretty much telling them they're going to have a problem with the way they're doing it and he'll go into this now.

@bycompoundfilms: Oh interesting.

@officialfuzzy: Yeah.

@bycompoundfilms: Do I continue to play it?

@officialfuzzy: Oh, please do.

Dan Larimer: ...which is the same mechanism that we promote using the Bitshares system of many different block chains. This is no different than how Bitcoin versus Lite coin, could be traded and is the proper way to scale.

The issue is, why do you need ethereum, if you're already going to have all these different chains you're not actually using the ethereum chain at that point in time to solve your problem? I suppose you can have multiple clones of ethereum each doing their own thing, but that asks another question. Why would I want to build on top of ethereum if I'm not actually on the same chain? After all, Ethereum has a lot of overhead associated with it. You've got to do all your calculations. You've got to store your scripts in the blockchain, and you've got to store the data in the blockchain. Not only that, but you are being billed with transaction fees for every computation in every block of data, all of which is are expensive for the same amount of decentralization. If you define a fixed amount of bandwidth as a level of decentralization.

So it seems to me that if you wanted to build a decentralized application and integrate with ethereum, there's really no reason to use a ethereum at all, because you're going to interact with the ethereum the same way, you would bitcoin with cross chain trading.

Dan Larimer questioning Vitalik: If you're using stuff off-chain, how did the nodes that don't have the full database, verify that the contract executed properly.

Vitalik Buterin: Right. So the idea there is that if it's off-chain, then that would mean that not everyone would look at every single contract. So, what would happen is that the network would have some degree of separation, but the linking would come because you could have. You could have an Ethereum contract, that actually could verify proofs of contracts in the other currency. So that so that's sort of the way it would work.

Dan Larimer questioning Vitalik: One more thing about Proof of Work. Proof of Work seem to centralize in the economies of scale. So whoever can monopolize that ultimately controls all networks based on that Proof of work.

Vitalik: That is a very good point and we are looking at some solutions. One solution is this idea of ASIC resistant Proofs of Work, so design could be doable by the average computer.

So I came out with this algorithm called Dagger. Dagger turned out to be somewhat flawed. And we're actually going to have a public contest, to do a lot of research into good Proof of Work algorithms.

A second option is Proof of Stake. Proof of Stake is much more decentralized. It seems likely we'll use some sort of a hybrid.

Dan Larimer: The second question I asked him was about proof-of-work...

@officialfuzzy: If you can pause it right there,

@bycompoundfilms: Just pause it?

@officialfuzzy: Okay, just for the history with this is that there was - and at this time the ethereum was really wondering where they were going to go proof of work or proof of stake. They didn't know. So they couldn't plan and build this, like you know, in a way that made sense to them. And eventually what ended up happening was they they've kind of fractured. Because they didn't have self governance features that were really that solidly in place right?

People call it a hash-o-cracy see and that's kind of what it is it's like. If you hold a token, the only thing that you can do in the ecosystem is sell it and get out if you don't like what the overlords are doing right.

So what happened with this was ethereum wasn't sure which way would go best. So what they did was they said we'll split and we'll go into a ethereum classic and ethereum. Ethereum classic would be. I believe, that's, it's proof of work. And then you have the ethereum chain, which is proof of stake.

If you think about it, it was smart because now it gives them the opportunity to try both without harming anybody - and it was smart to that degree - but the problem - is it fractured the community unnecessarily if there was the ability to let them work together. And get them to build something from the very beginning that would scale.

And then they started doing this as this decentralized playground that wasn't actually as decentralized as you could see by the earlier graphic right?

But at this point in time, that's when they're what they're just cussing from historical perspective right here. And what he's dealing with at that time.

@bycompoundfilms: Let me throw this in real quick, Marvin Murdoch says people start started hating Dan because he was attacking Vitalik.

Public view of Dan Larimer explained 40:48

@officialfuzzy: You know. I think that what was what was kind of interesting about that was. I don't think that Dan ever really attacked him.

It was that if you follow what happened with Dan a lot of the stuff that he said wasn't politically correct in the ecosystem.

You know it's always easier to swim with the tide, but sometimes sometimes you see that all the fish are trying to swim to a bunch of bears - and you say, hey guys - we're swimming to a bunch of bears and we're really capable of adapting and changing and don't take offense to these changes. But we need to go upstream and otherwise we're going to probably get eaten by bears.

You might get through it, but I'm not going to go that route. So basically the current was pushing against him for all this time. And because of that, when he came out and was talking about this, I think people thought that Dan just overall wasn't politically correct, and so it was an attack.

And I don't think of it was ever at an attack. There's actually pictures of Dan and him going and talking and Vitalik came onto our forums and [they] were talking about it after all of this.

So just to let you know from a historical perspective, some people think it, but I don't think that that's really the fairest representation of it. I mean not that's what your intent is, of course.

@bycompoundfilms: Quick question. So this video was from 2014. I guess what has happened since then? Where is it now? What is their relationship now?

@officialfuzzy: Oh, I. You know what to be honest with you. I sincerely doubt that they talk too much. But I mean to be honest with you whenever you get really busy. All of you probably are aware of this with me too. It's like it's hard to get a hold of me.

So so, whenever you're doing things and you're trying, like even you know the team people, people who are my teammates, you know sometimes I you know I'm trying to do things. But I think you get busy and you get on your own projects and and people kind of they don't have as much time to talk. So I doubt that they really talk too much. And by listening to what Vitalik was saying in the other video that I hope everybody went and grabbed. They actually were doing was kind of forgetting some of the things that that they that he knew from the very beginning I mean, as far as I believe, what Vitalik was doing.

@bycompoundfilms: So did the points that Dan was bringing up did any any of those things come to pass?

Ethereum's missing magic bullet 43:57

@officialfuzzy: No, actually the here's. The thing ethereum is still trying to find their magic bullet, but their magic bullet is. I'm not going to say that the ethereum can't live. Who knows you know.

But I will say that ethereum has never been built to [be effective]. I was talking about in the very beginning. A lot of cryptos have great ideas that are trying to roll on square wheels. well, ethereum has octagon wheels.

So I mean they get where they're going, but it's like destroying the roads and everybody's going, my god, we just need round tires or better, yet, like hoverboards and stuff. And Dan's like let's make lasers hoverboards that they think is flying about yeah. They take us flying to the moon

@bycompoundfilms: Steem power pics. Do you have anything to chip in on that?

@steempowerpics: No, I was just checking before but kind of passing. I just I was checking up to see if they'd enterprise, like the ethereum alliance, was in place when that video was [aired]. But I went back and checked it. So the video is actually before the alliance was put together like Microsoft and JP Morgan, all those people.

@officialfuzzy: yeah, but even now I mean, even though they have that Alliance. Where'S a theory - and you know it's scale with scalability - is still something that it's it's working on. Now, I'm not going to say that things can't happen and, of course, you've got a ledger there.

Even if, for some odd reason, something the worst case happened on a blockchain, you still have that ledger. So some amazing things can still happen from that ledger of all the people who hold those tokens and because that's really, where the value proposition is. That's the beating heart of it right is all those people who are often who have their names scribed on it. Damn it's cool.

So I won't say that that ethereum is going to die or anything, but I'm going to say that it has octagon wheels. Someday the new ethereums might come out with different [wheels]. They call themselves and brand themselves as ethereum, but they'll use delegated proof of stake. Something like that could happen. Ethereum, zip or neo, which is basically that.

@bycompoundfilms: So gammon says. I would like to hear more things about Steem fest.

@officialfuzzy: Oh, I would love to talk about them, but I'm to be honest with you guys, I'm not going. Maybe gammon GHD. You would like to be one of our representatives for this.

No, actually, I would say my producers right now are two people who are in this chatroom with me, compound and Steem power.

Doubts on EOS explained 47:21

@bycompoundfilms: And I just pulled out the article negativity towards EOS and Dan is unwarranted and not based on anything tangible.

@officialfuzzy: This was a good one and, like I was telling you guys earlier, like to talk about stuff, and I can write about stuff too. But I like to go out and I like to find what other people have written, that is really good.

Because I know the people who know what they're talking about generally. When I'm reading some of this stuff - and this was a wonderful reddit document - negativity towards Dan and EOS is unwarranted. And if you look at it, they talk about a lot of what there's issues with.

For instance, look at the money laundering scheme. And then doubting EOS is offloading, who is offloading their ethereum. Are they buying in and propping up EOS tokens by doing that? Essentially that's what all these are talking about.

So the theory is that somebody from block one is selling their tokens and which is fine. They'Ve already stated that that's that they're, they plan to sell ethereum tokens to build their team and do things and to build their businesses and to help with partnerships and all these different things that they want to fund.

And they even announced a billion dollars that they think that they've secured for funding of all these types of things. And they haven't even offloaded a whole huge ridiculous amount of the ethereum.

But people are starting to try to say: well what they're doing is they're selling all the ethereum they get. They turn around and buy an EOS tokens to prop it up.

But if you look at the price of EOS, there really hasn't been a pump other than from the very beginning days. Snd do we think that they would have bought a bunch into the very beginning days? Maybe that's the case, but what they're planning on doing is having third party audit. And Brendan Blumer has even said, and if you go through this article, I'm not able to show exactly in this article where it is because I don't control the screen. But he actually posts something about there, a link to the statements and stuff. And you can go and read all these different things. Like Brendan Blumer talking about how they're going to have a third party audit on all of block one. And that's going to be after the sales is over, of course. Because doing it during [the sale] just doesn't seem for whatever reason to them what they should be doing and how they should be doing it. But if they're going to be having a big group of people looking at this like, one of the big four, then I would love to see more about it of course, you know because we don't have everything other than statements.

But I really suspect these guys have vesting stake in EOS. They have a technology, that's been proven to work. They've got a billion dollars to buy into things and support the development of things. And I know for a fact. Dan has built two things already.

So we're not talking about a CTO here who has no clue what he's doing as far as building things.

Dan Larimers build BitShares and Steem 51:24

@bycompoundfilms: And what has he built so far?

@officialfuzzy: Well, Dan Larimer is the CTO right and he's he has built Bitshares and Steem and was instrumental in the creation of delegated proof of stake, which is now in probably ten or fifteen different tokens. And even a lot of the ones that are using older delegated proof of stake are still orders of magnitude faster than most coins in the world.

@bycompoundfilms: So seeing is that you know EOS seems promising and the guy that's behind Bitshares in EOS and Steen. What does this all this progress mean for Steemit?

@officialfuzzy: It depends on the community, always man. That's always been my friggin answer. Because the thing is in Steem. You have people who can vote on things and distribute tokens in the ecosystem to it. And you have Wales who do that, you have the good side and you have the bad side of it. It's the yin and yang of the Steem world, so you have potential on the dark underbelly of it. You have bots that run around and upload their own comments and distribute tokens to themselves just so they can go around. I don't know exactly what they do with it. Maybe they might make more BOTS who knows.

But you also have things that are amazing, that are happening on it like just for instance, with what our tokens do with with beyond bits and stuff we have.

We had a competition on there and we gave tokens out that represents that are on bit shares that represent votes on Steem. And we distributed them to the artists who did the block, trades logo and added flair to it. Who made it made it cool in their own way. We could do all kinds of things like that with that. So so we even have like tools like Bitshares and Steem that provide these amazing things right now right?

Does Dan leave his projects? 53:49

@bycompoundfilms: Let me throw this in there. Gammon says from what I've heard Dan doesn't work with Steem anymore for a long time.

@officialfuzzy: Yes, that's true, what he has always described himself was. He's the designer of the ship but others will captain them. But he will always want it to be open source, so he can build whatever he wants, and so others can build what they want.

So that's kind of how Dan's philosophy is on things and that's why he moves and why people see him jump around a lot. What they think is just scamming people by making new chains. He does essentially what Satoshi did, without taking 10 % cut in the very beginning, just for himself, mind you, which is launched a chain and give it to a community.

@bycompoundfilms: and Steem power pics. Do you have your two cents throw in on that.

@steempowerpics: Yeah. My thought is just with what we're just saying how it relates to Steemit and the other blockchains and stuff that Dan Larimer is associated to. Going forward, how does EOS relate to Steem? As far as other community-based projects that get built. Nothing specific, there's not any specific community being built, but how will they relate going forward? As far as you know, on Steem you can vote on stuff, you post your content and all these other kind of projects. We need to base stuff for coming out behind it, but not on Steem a chain. So how does that really drive things going forward as we move over to EOS?

@officialfuzzy: Let me take a deep breath before I answer this.

Is EOS delivering on Ethereum's promises? 55:43

@bycompoundfilms: So let me throw this in the real quick. con j67 says: EOS is delivering on Ethereum's promises.

@officialfuzzy: Thanks Collin j67. You know what? I have a hard time, believing it's going to be any it's going to be at least as good as NEO, and it's probably going to be far better. It's going to be at least as good as Neo.

If people don't think that Yoda of blockchain technology, aka Dan Larimer is not going to deliver on his promises, when people like neo can deliver on their promises with a delegated proof of stake, essentially chained themselves? It's going to look good.

@bycompoundfilms: He says uh well, will EOS have its own wallet

@officialfuzzy: Will EOS have its own wallet? I'm assuming that they're going to have all kinds of wallets, because they'll have all kinds of different smart contracts and they'll all have their own interfaces.

@bycompoundfilms: Okay, perfect. Now, back to the original question from Steem Steem power pics.

@officialfuzzy: Oh sorry, yes, sorry. To your question, I would say, like I said it's up to the community, how all that stuff will work. But personally, what I would be doing as Steem as I would be wanting to situate myself as a place To advertise. Make it an advertising network because it works pretty well for that.

I think there's going to be many different use cases that are that are kind of like I mean Dan. I don't know if people notice, but he says he says something about curation networks that are going to exist on EOS and I believe that they're going to be smart contracts, that people are going to be able to use for social media types of curation networks. And They'll be able to essentially define their own reward rates and the ways of that of rewarding, the economics. I believe that those are the things that he would want to see done.

@bycompoundfilms: Can I translate that real, quick? And that way I can make sure I fully digested that? Are you saying that in the future, because of EOS, that they're going to have, let's just hypothetically say, there will be a Steemit.com in the future on EOS that you can program rewards on. I mean you could program it to where, let's say someone makes a post about a labrador dog. And you could program maybe a token or reward to only reward those specific people. Or you'll be able to reward people that post [like that]. Maybe you could program it to say anybody that, programs, you know three paragraphs in a post, gets rewarded. This is that what you're talking about?

Gamification mechanisms 59:00

@officialfuzzy: Yeah, you would be able to essentially come up with your own gamification mechanisms. Because, let's think about it, just for one second, how many people grew up with video games? How many people are really kind of masters of gamification because it's been used on them all their lives when they were playing their favorite video games? You didn't realize necessarily that you were studying this stuff right, but if you're here listening to this at any point in time it is likely because you're a freak for gamification in some way shape or form, or else you wouldn't be into all these digital currencies right? So these gamification masters that exist, once they start trying to apply all the things they know to things like smart contracts, get ready for for an explosion of different use cases that make you giddy, but also can potentially scare the crap out of or shit out of you.

@bycompoundfilms: Yeah, I heard there was a movie out there. It was called Nerve, I think, and it's where I think they have challenges they have to meet in order to gain certain rewards and people are watching them. Is it kind of like that?

@officialfuzzy: Yeah, there's yeah, there's some some stuff out theret hat's like dystopic and all that. And, of course, that comes down to humanity, I guess right? Are we going to have RFID chips and surveilling us to use cryptocurrency because it's cool. Or are we going to, say yeah, probably not a good idea?

@bycompoundfilms: Steem power pics. Do you have any two cents to throw in about any of that?

What Steemit Inc. can learn from EOS 60:57

@steempowerpics: Honestly? No, I do see [that] Steemit will have to kind of get its act together if it's going to end up really competing in that world, when they make these new token platforms and these new communities that are coming out. And just that functionality that seems lacking and they're going to get left behind if they don't make some of these changes.

@officialfuzzy: Well I'll say this: some of the things that they could do Is they could leverage their ledger and potentially even upgrade to EOS technology at some point in time right? Because it'll be open source. So if the people in Steem are smart, they can fix things and that, and every community has its own dark underbelly right? Just like I said, the question is: will the the dark underbelly keep the the people who are feeding it alive or will they kind of turn on them? And I don't know what that answer is they're all experiments?

I can say the same thing about every chain pretty much out there, but I think that Steem and all these delegated proof of stake chains have tools that the other ones don't. So I have more hope for them. I guess the future will show us all.

@bycompoundfilms: Definitely so I guess guys if you're listening, go ahead and get your last questions in. We have about three more minutes, so anything you want to ask, go ahead and ask the man with the brain or Steem power pics.

Anything you guys want to throw In while everybody in the chat is getting their questions together?

@officialfuzzy: Call me the the story master like the old guy, who tells people their stories of everything.

@bycompoundfilms:Llike a wizard or something.

@officialfuzzy: Yeah. The story wizard.

@bycompoundfilms: Well, I'm not seeing any questions, Steem power pics, any last thing you want to throw in?

@steempowerpics: No, I'm good now.

@bycompoundfilms: Definitely uh fuzzy anything you want to throw in before we get off?

You can join us right now! 63:38

@officialfuzzy: yep I'll, throw something in real, quick. We're just starting these. So please consider sharing them. Please consider letting everybody know what we're doing. I'm going to start making a post about these talks or one of the people in this room. Will I urge you to all consider making your own posts about it too, but what I'm going to do is I'm going to post and I'm going to ask people to also let us know what they think is important, that we might that most people might not Be paying attention to an ecosystem? That'S important about EOS and we'll try to look into the things that we can and find out some of that stuff.

But additionally, we have hangouts on Saturdays and they start at 1:00 p.m. UTC for Bitshares, and we also have one for Whaletank which is in the Steem ecosystem, and we pass out tokens. Now please consider joining those and please also consider joining our forums, which are EOStalk.io and join our community. Right now, how we have it set up is you can join using your Steem account and you can see as kind of a test case, what this technology can do. And you can kind of play around in a forum that is still in beta, but it's still a place where it's a beta forum, that's backed by a blockchain. And it's for EOS.

And I would love to create, but I always call Voltron, which helps all these delegated proof of stake chains work together. So help me create Voltron and help this gentleman, who were here tonight and all the people who helped us and beyond Bitcoin and the Whale shares community, help them create Voltron.

Because when we have all these different use cases - and we have all these chains working together, we can provide a lot of value to the world and also maybe maybe give ourselves enough resources to build whatever we want.

@bycompoundfilms: Well, definitely we'll throw this in. So if you guys liked the program, the segment go ahead and subscribe to the beyond Bitcoin Club Channel - and there will be - I don't know if there's a bell next to the name it. I think we have to work our way up to that. But if there is go ahead and click that bell, so that way, you know you can get notifications every time we livestream and you can partake and participate.

@officialfuzzy: Well thank you man. Thank you guys for everything you do. And for those of you who are in chat tonight. I see you and thank you and I think that we've got some other cool stuff coming. Oh Patrick has a question for you compound, when's the next crypto cartoon coming?

@bycompoundfilms: Extremely soon, extremely.

@officialfuzzy: We chat offline about that.

@bycompoundfilms: Yeah I'll, be honest team. It and, like I say it follows the follow fuzzy on Steem. It you can find them on there as official fuzzy or yeah fresh or fuzzy right

@officialfuzzy: Yep.

@bycompoundfilms: And you can find Steem power pics it's ste e m power pics on Steemit. And, of course you can find me, by compound films - and you know I will be posting in a new cartoons that we put out and and and on behalf of everybody. I just want to say thank you for having us. Thank you for taking the time out. krysta, Patrick, you know Khan, j67, gamin, Jun, Ben, Akrid and everybody. I can't read everybody man, but just you know thank you for taking the time out. I guess any last thing: fuzzy?

@officialfuzzy: We just reached 3300 views on soundcloud last week. So thank you everybody who's been helping us get big on there. I'll just say continue doing what you guys do and we'll meet up next week on this same bat-time, in this same bat-channel.

@bycompoundfilms: Perfect, thank you a good night, eat your vitamins, eat your spinach and say your prayers. Good night.

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