Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 SPECIAL GUEST 🚨 - Kyle Chasse SHARES Big Crypto Insights

Transcript

🚨 SPECIAL GUEST 🚨 - Kyle Chasse SHARES Big Crypto Insights · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:02
  Today we have a special guest, Kyle Chassy.
• 0:05
  He's a respected leader, a veteran in the world of crypto.
• 0:10
  He runs a great YouTube channel, but he's done a lot, lot more.
• 0:14
  Just to name a few things. He's the founder of MV Global
• 0:18
  AVC Fund with over $100 million under management.
• 0:22
  He's created groundbreaking projects like Paid Network and
• 0:26
  Commonwealth. He was also an early seed
• 0:29
  investor in Coinbase, Kraken and Circle.
• 0:33
  And interestingly, he operated a resort in Thailand that operated
• 0:38
  completely on Bitcoin. There's actually a lot more, but
• 0:41
  I I don't want to read it all to you.
• 0:42
  Kyle, welcome to Ron's basement. Hey Ron, thanks for having me.
• 0:46
  How you doing? I'm doing great now you've
• 0:48
  you've been around crypto for a long time.
• 0:51
  For those of us that didn't watch our previous interview,
• 0:54
  when I talked with you, I learned so much.
• 0:57
  So I'm so excited to have you on here.
• 0:59
  You know, last time you introduced me to this concept of
• 1:03
  decentralization and I want to talk about that a little bit
• 1:06
  more as we as we dive into this. But I wanted to ask you about
• 1:10
  community first because you've been around Bitcoin from the
• 1:13
  early days and I'm just curious. I think you and I both just got
• 1:17
  back from the Bitcoin conference.
• 1:20
  What's your thoughts on community and kind of how
• 1:22
  community has evolved in crypto over the last 12 or so years?
• 1:28
  Well, I think I think community is an interesting word and it's
• 1:32
  it's taken a lot of different shapes and forms the way people
• 1:36
  use it in our space. And since I've been a big
• 1:41
  believer in community, that's why I created that.
• 1:44
  We called it Cryptopia in Thailand, the resort that I took
• 1:47
  over and had a bunch of crypto entrepreneurs come and but it's,
• 1:53
  you know, that that idea is like truly starting to build a
• 1:56
  network of friends that almost feel like family that you can
• 2:00
  actually relate to, bounce ideas off of, you know, grow together.
• 2:07
  And you know, I think that, you know, it's funny when like the
• 2:13
  whole meme coin space took off, you'd always, you'd always hear
• 2:16
  people going on different shows and saying, oh, this, this, this
• 2:19
  new token that launched 5 days ago has the best community.
• 2:22
  It's like, no, no, they don't have a community.
• 2:24
  Actually, They just have a bunch of people who bought bags and
• 2:27
  they're like, now trying to use the word as a community.
• 2:30
  But like the, the second the price goes down, they'll leave.
• 2:33
  And then, you know, so it, it, it needs to be built over time
• 2:36
  and, and communities often have either they'll have like a
• 2:42
  centralized kind of leader that people look up to and or they
• 2:47
  can be more decentralized where the people who kind of started
• 2:51
  the community maybe leave some sort of some sort of
• 2:57
  constitution, if you will, that kind of describes the ethos and
• 3:00
  values that one might subscribe to when choosing to join this
• 3:04
  community or not. And I think that's interesting
• 3:07
  because you know, when you look at a community and you you
• 3:11
  choose to where you're going to spend time, like, do I align
• 3:14
  with the values of this community?
• 3:16
  And if those values aren't written out somewhere, then how
• 3:19
  are people supposed to know like that moral and ethical code of
• 3:22
  conduct within that community and how it's supposed to
• 3:24
  operate? Wow, you've got me thinking
• 3:27
  about so many things. And of course, I'm 100% UFD, but
• 3:32
  but when you when you talked about this idea that community
• 3:35
  takes time, we're only six months old or a little under six
• 3:40
  months old. Do you do you think that
• 3:43
  community also is built through hardship as well through make me
• 3:49
  going through the hard times? Well, that's what I was saying.
• 3:51
  I mean, you know, people will claim that they're part of a
• 3:55
  community, but as soon as in our in our space, the price goes
• 3:58
  down, a bunch of people leave. Well, that's not, you know,
• 4:01
  that's not community, that's people.
• 4:03
  That's, you know, that's people who are trying to be
• 4:06
  opportunist, you know, and, and give the false pretense that
• 4:12
  this is a safe community and the people are welcome and that
• 4:15
  we're all friends. When in reality the people who
• 4:19
  are there just short term and don't want to stick around long
• 4:23
  term, they were pretending to be part of a community so that they
• 4:28
  could use the new people they're bringing in claiming it to be a
• 4:30
  community as exit liquidity. Yeah, yeah.
• 4:33
  And it's interesting. And I also liked what you said
• 4:36
  about the fact that there has to be, and correct me if I'm wrong
• 4:39
  on this, but like a common bond, something beyond just trying to
• 4:43
  pump your bags or or make, make a, make a quick buck, that there
• 4:48
  has to be like a core, maybe fundamental moral code or a
• 4:54
  uniting theme that brings the community together.
• 4:56
  Is that is that a? Is that a safe statement?
• 4:59
  I think so. I think, I think it, it always,
• 5:02
  it's always interesting when you find some sort of mission
• 5:05
  statement or a manifesto or like what's the purpose?
• 5:09
  Why are we here, you know? Yeah.
• 5:13
  Could, could, I'm sorry I interrupted you.
• 5:16
  In UFD we talk about good attracts good.
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  Could that be construed as being a, you know, this idea of
• 5:23
  fairness and honesty, integrity? Could that be considered a a a,
• 5:28
  a manifesto or something that could be, I guess, tokenized for
• 5:32
  lack of a better way to say it? Well, I think it's, I think it
• 5:35
  could be 1 like, like, think about it.
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  Maybe, you know, in America, we've got like the Bill of
• 5:41
  Rights and the Constitution and stuff like that, right?
• 5:43
  It's, it's further, you know, we have these, but it's many types
• 5:49
  of things. And there's a mission usually.
• 5:51
  And you know, there's a lot of great manifestos out there too.
• 5:55
  You know, there was 1 famously or infamously now written by a
• 6:03
  guy named Aaron Schwartz. And for those who don't know
• 6:06
  Aaron, he was the Co founder of Reddit.
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  He was a child prodigy and he wrote a manifesto one day called
• 6:16
  the Gorilla Open Access Manifesto and it got him in a
• 6:23
  lot of trouble. He was he was someone that
• 6:27
  believed information should be free and it should be free at
• 6:30
  all costs. The idea essentially was that
• 6:35
  there's a lot of geniuses that are born everyday on this
• 6:38
  planet. Like geniuses.
• 6:39
  I mean that by like extremely high intellect.
• 6:43
  And unless they have access to the knowledge base that's been
• 6:47
  generated by humankind over time, then that genius often
• 6:52
  goes to waste. And so we're talking about a lot
• 6:54
  of, you know, people in developing countries that are
• 6:57
  geniuses that don't get access to all the scientific literature
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  that's locked up by these, like, nonprofits that actually keep it
• 7:05
  behind a paywall or, you know, the different kind of Supreme
• 7:09
  Court rulings that create law. So anyway, he wrote a manifesto
• 7:15
  saying that, you know, it should be everyone's everyone's
• 7:19
  interest to try to make this information that's locked behind
• 7:24
  these nonprofits for free. And Long story short, really
• 7:29
  brilliant kind human being was up against the US prosecutors
• 7:35
  for something he did that was only trying to help humankind
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  and they had no evidence to prove a motive until they found
• 7:44
  this manifesto when they use that to to prosecute him, which
• 7:48
  was a shame. Wow.
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  So was that, would that be considered almost the
• 7:52
  decentralization of information, what he was trying to, you know,
• 7:57
  to make that information available?
• 7:59
  Well, yeah, I think this. We didn't have distributed
• 8:01
  databases in a way that actually worked like we do today, where
• 8:05
  you could actually put that information up and you could
• 8:08
  assure that even if one server got taken down that it would
• 8:11
  still survive today. We have really great systems
• 8:13
  being built that can ensure that really important things can be
• 8:18
  distributed across servers so that if one gets taken out then
• 8:20
  you don't lose the information. But he was trying to democratize
• 8:25
  access to information. Interesting, Interesting as
• 8:31
  you've observed Bitcoin over the last in the Bitcoin community
• 8:35
  over the last 10-15 years. Again, I reference for the very
• 8:56
  first time ever, so that's fully.
• 9:01
  Ron, I don't know if it's you or me breaking.
• 9:03
  I don't know if it's you or me breaking up Ron.
• 9:12
  Kyle. Yeah.
• 9:15
  Sorry, I don't know if it's you or me breaking up, but I missed
• 9:18
  that last question. Yeah.
• 9:20
  Well, I was just curious. I, I went to the Bitcoin
• 9:22
  conference for my very first time.
• 9:24
  How different would the Bitcoin conference have been 10 years
• 9:28
  ago? I don't know if you went back
• 9:30
  then or knew what was, but was it?
• 9:31
  Was it a different scene altogether?
• 9:33
  I did, I went, I went, I have been.
• 9:37
  It was a 10 years ago at but conferences, they were the 11
• 9:42
  particular one, the I think probably one of the first ones I
• 9:45
  can remember was held to the library in London and Roger Ver
• 9:50
  was like one of the only speakers there.
• 9:52
  And Roger, for those of you who don't know, Roger Ver was like
• 9:54
  the first Bitcoin evangelical evangelical evangelist.
• 9:58
  He, he was going out all over the world reaching Bitcoin and
• 10:02
  this kind of stuff. So, so yeah, it was like it was
• 10:05
  1/2 day and there was maybe 60 people that showed up.
• 10:10
  Ledger was there and Ledger had their prototype of the hardware
• 10:15
  wallets. It wasn't even and production
• 10:17
  yet. So it's just like this, it's
• 10:20
  like this all the like it's basically the USB drive without
• 10:23
  the casing. And this is like the model of
• 10:25
  what they were producing and and it was and it was a lot
• 10:29
  different back then. I mean, the crypto crypto
• 10:32
  conferences in general were a lot different before 2017, you
• 10:37
  know, before 2007, 2017 Icos came and then we started people
• 10:41
  showing up to crypto conferences in suits and, and there was a, a
• 10:46
  lot of people had dollar signs in their eyes, like dollar
• 10:48
  signs, not Bitcoin signs, but dollar signs.
• 10:50
  They were trying to extract money from the ecosystem and it
• 10:53
  happened and we've been dealing with that ever since.
• 10:55
  So at those kind of conferences, you get a lot of people who are
• 10:58
  really interested in passionately building things and
• 11:01
  trying to use the technology for its intended purpose.
• 11:04
  And there wasn't really an idea of like getting rich at the
• 11:07
  time, You know, that idea hadn't really come to the surface.
• 11:11
  No one. I think people were just more
• 11:13
  excited about the potential disruption that was coming from
• 11:16
  the technology. So things were.
• 11:19
  It sounds like things were more is pure and accurate way to
• 11:23
  describe it. Yeah, for sure, for sure.
• 11:27
  It was just a, it was great energy, but also a lot of really
• 11:33
  great people and, you know, very, very interesting early
• 11:38
  adopters. No, no, no Formula One race cars
• 11:41
  in the in the in the exhibition hall or anything like.
• 11:44
  That yeah, no, it was even, you know, I, I was even got really
• 11:48
  excited if I ever heard the word Bitcoin on like a radio station
• 11:52
  or saw on the news maybe, you know, that that happened maybe
• 11:55
  twice a month, maybe once a month, something like that.
• 11:59
  Yeah. Well, I want to ask you this
• 12:01
  question and I'm, and I'm, I'm coming at this from a, a UFD
• 12:04
  perspective, but do you feel like crypto in general, because
• 12:09
  I do still gives that opportunity for like a pure
• 12:16
  project that is, that really is not necessarily been corrupted
• 12:21
  by maybe I'm saying that too harshly, but things like IC OS
• 12:26
  and you know that that like that, like what I was able to
• 12:28
  do, not by any great strategy of my own, but what's been able to
• 12:33
  happen with UFD, where I just started this literally as a
• 12:37
  little experiment, had no strategy, no plan, but just
• 12:41
  followed doing what I thought was right, that there still is
• 12:45
  kind of a pure pathway for crypto to be able to, to, to, to
• 12:50
  operate in that manner. There's a lot of there's a lot
• 12:53
  of people that are that have good intentions in the space,
• 12:56
  You know, you know, the one of the difficult things about that
• 13:01
  though, is that there's a lot of people like the there's a lot of
• 13:04
  people that have a value extraction mentality.
• 13:08
  And I mean, the video that I recorded, it's like an hour or
• 13:13
  two ago that's going to go out later today is all about pump
• 13:17
  fun and how the creators of that seem to be purely driven out of
• 13:23
  value extraction, like a ideology.
• 13:26
  The idea in general, I think probably when it started was was
• 13:30
  probably fairly innocent. And then when they just started
• 13:33
  making crazy money and then the ecosystem got hyper diluted by a
• 13:37
  bunch of people who are trying to not like you, but people who
• 13:40
  literally had no intention to try to, to, to build a community
• 13:44
  or an idea or IP or something. You know, it's literally like,
• 13:49
  how high can I get this market cap for a short period of time,
• 13:52
  sell, and then move on to the next one.
• 13:54
  Yeah, yeah, yeah. That's, I know, you know, as
• 13:59
  I've been in, in, in crypto now for almost 6 months that that's
• 14:02
  generally what seems to happen within the pump fund ecosystem.
• 14:08
  I mean, I know that what happened with UFD is, is a, is,
• 14:12
  is an exception and it's, you know, it's something that we, I
• 14:17
  think, I don't say fight against, but it's, I don't think
• 14:23
  that it's necessarily good for them.
• 14:25
  In my opinion, for the crypto community.
• 14:28
  I do feel like if there's a silver lining to it from, from
• 14:32
  the good projects and, and I agree with you, there are some
• 14:35
  other really, really great people out there that I've had
• 14:37
  the pleasure of meeting. But it makes us maybe stand out
• 14:42
  a little more when there's so many other, you know, projects
• 14:45
  out there that, that, that don't have such great intentions.
• 14:51
  And like you said, in terms of building a community or, or or
• 14:54
  something else in terms of utility or anything along those
• 14:57
  lines. Yeah, fully.
• 15:01
  I mean, imagine all of that money that was sucked out by
• 15:04
  people who are taking advantage of a situation from people who
• 15:08
  are looking to get rich quick or, you know, trying to actually
• 15:11
  invest in something that their favorite influencer told them to
• 15:14
  buy or something. Imagine if we could redirect
• 15:17
  that money back into quality projects.
• 15:20
  You know, we wouldn't have this. We would probably be in a better
• 15:22
  place where we saw, you know, more interest in all coins.
• 15:27
  Yeah, yeah, because I think some people get burnt and then leave
• 15:30
  and never come back. And yeah, you said something
• 15:33
  interesting earlier on that I want to touch on and get and get
• 15:36
  a little more info from you and, and on behalf of myself and up
• 15:40
  there, we have almost 500 people joining us right now.
• 15:42
  Thank you, Kyle. I know your time is very
• 15:45
  valuable and I really appreciate you, you know, sharing your your
• 15:48
  insight and wisdom with us. You talked about when
• 15:51
  communities form, they're either, and correct me if I'm
• 15:55
  wrong here, they're either centralized where there's like
• 15:58
  an official leader or they're more decentralized.
• 16:01
  Could you expound upon that a little bit more if I if I
• 16:05
  remember your your statement correctly?
• 16:07
  Well, I mean, I guess, you know, Satoshi always he, he like he
• 16:15
  didn't want to be a known and he didn't want to be important.
• 16:20
  And he stuck around literally as long as he had to until he felt
• 16:24
  like there was some other people who could kind of take over.
• 16:27
  And so Bitcoin essentially doesn't have, you know, we, we
• 16:35
  know from the white paper kind of what the intention is.
• 16:38
  And so people use that as a guideline.
• 16:41
  We know that that we don't ever want to have more than 21
• 16:43
  million coins ever produced. You know, we know how the boxing
• 16:47
  is supposed to work. And then you have something like
• 16:50
  Vitalik, who, you know, even though there was many Co
• 16:55
  founders of Etherium, he's kind of the guy who everyone thinks
• 16:58
  of when they think of Etherium. And he's tried to remove himself
• 17:04
  for a long time from that leadership role, but keeps
• 17:08
  getting dragged back in. But now Etherium is still larger
• 17:11
  than him, but he still has a lot of significance in it.
• 17:17
  It is it's really hard to do to, to, I think the proper path is
• 17:24
  probably the proper path to a more decentralized community is
• 17:29
  probably where the leader initiates things, sets the tone,
• 17:33
  sets the pace. And then over time, you know,
• 17:37
  it's when speaking to the community, find out who are the
• 17:40
  other like really active team members who like organically
• 17:44
  take a leadership role. And then, you know, promote them
• 17:47
  within the communication groups, whether it's like Discord or
• 17:51
  Telegram, whatever, promote the admin to admin positions.
• 17:56
  You know, maybe, you know, hopefully that they're working,
• 17:59
  they're excited and they're working because they hold a bag
• 18:02
  of this token or whatever. And then, and then, you know,
• 18:10
  start figuring out. And then I, I think that like
• 18:12
  just depends on what the mission is again, right?
• 18:14
  Like it's like for UFD, is there a mission, right?
• 18:16
  Did you, do you want the IP to go, you know, to create a, you
• 18:20
  know, do you want to move into, you know, branding later?
• 18:24
  Do you want to do books and TV shows and merch and stuff like
• 18:28
  that? Or is it always just going to be
• 18:30
  a, a meme coin kind of thing? Like like Pudgy Penguins, for
• 18:34
  example, They went from NFTS to plushies at Walmart to a
• 18:38
  blockchain to now trying to build an ecosystem around the
• 18:41
  original meme NFT, for example, and the original creator of
• 18:47
  Pudgy Penguins left and sold to someone who could drive that
• 18:52
  batter, Lucas. And then and so, but I think if
• 18:56
  eventually Lucas's goal, he did, he built this blockchain, that
• 19:01
  blockchain should probably be decentralized in the way that
• 19:07
  operates now. Would it be successful or will
• 19:11
  it be successful if he removes himself?
• 19:12
  Probably not, right? But may.
• 19:14
  But does he also want to be responsible the next 10 years to
• 19:18
  continue to to drive it and be responsible?
• 19:20
  I think ideally if one is able to figure out a game plan where
• 19:24
  they can remove themselves eventually and that that's like
• 19:28
  the essence of where we all like to get to in in this space.
• 19:32
  I think Vitalik would love to, you know, remove himself from
• 19:35
  Ethereum, for example, so he can move on with his life and he
• 19:38
  still contribute core code or something or whatever, maybe
• 19:40
  build something else. I don't know.
• 19:42
  But yeah, so I, I'm not sure. I don't have an answer to that
• 19:46
  because it's, it's, it's still early days for our industry.
• 19:49
  It's it's yeah, right. One more one more community
• 19:52
  Question is you've observed communities grow over the years,
• 19:56
  different communities, Ethereum, Bitcoin, I'm sure a lot of
• 19:58
  communities is a certain amount of infighting and friction a
• 20:03
  normal part of the evolution process for for for the
• 20:07
  communities A. 100% And that's why I think that that's why it's
• 20:11
  important to, if a, if a project's goal is to
• 20:14
  decentralize, it should be done over time and it should be done.
• 20:17
  It's our first. The leader needs to come in and
• 20:20
  set up that kind of constitution on how things operate and the
• 20:25
  vision. And that's why I think it's
• 20:26
  important to put something on the digital wall that says this
• 20:31
  is our objective, this is our mission, this is our goal, this
• 20:33
  is how we operate. We're nice to each other.
• 20:35
  We don't do this, we don't do that.
• 20:37
  And if you break these rules, you might get a kind polite
• 20:41
  warning not to do it again. But if you continue to violate
• 20:44
  our constitution of how we operate, we'll kick you out of
• 20:46
  our digital country, you know, and, and the more, the more
• 20:50
  clarity the community has on that constitution, the rules,
• 20:55
  the easier it is to self regulate, you know, so, so it's
• 21:00
  hard when there's no, when, when there aren't these, this
• 21:03
  constitution and rules and stuff like that for them to know
• 21:05
  what's right or wrong or what the intention is.
• 21:07
  And so, but, but fighting in communities has always happened.
• 21:11
  I mean, it happened a big two year battle raged in Bitcoin
• 21:17
  when they're trying to figure out if they should keep the
• 21:19
  block size smaller or make it bigger.
• 21:21
  And the same thing happened in Ethereum when there was a Dow
• 21:24
  hack and they were, you know, the, they're trying to figure
• 21:28
  out if they should roll the chain back, which is against the
• 21:30
  decentralization principle in order to not let the hacker go
• 21:33
  out with those funds. So it's, and that and that's
• 21:37
  what the community have. And then you have Ethereum
• 21:38
  Classic and you have Ethereum. So it, it, it's historically
• 21:42
  happened in almost every single major project to date.
• 21:46
  And that's part of democracy. I mean, you see it in America
• 21:49
  right now, right? You've got the libs and the
• 21:50
  Republicans, and they fight all the time, but we're still
• 21:53
  Americans. Yeah, yeah.
• 21:55
  Great. Great point.
• 21:57
  Thank you, Kyle. Decentralization, digital
• 22:01
  scarcity and democratization. Those are what I what I'm is,
• 22:05
  I'm learning here what I call the 3DS that I think make set
• 22:11
  crypto. And of course, I'm always
• 22:12
  thinking of UFD apart. Any comment on those three
• 22:16
  things? And in terms of, you know, the
• 22:18
  last time you and I talked, you turned on the biggest light bulb
• 22:22
  in my head in regards to decentralization.
• 22:26
  I'd never really thought about that.
• 22:28
  And, and, and now I think about it even in terms of precious
• 22:31
  metals, I think are decentralized.
• 22:33
  But do you do you see decentralization is one of the
• 22:37
  like key attributes that really gets people excited about crypto
• 22:43
  and really like at levels the playing field for people all
• 22:46
  around the world? No, people don't care about it
• 22:50
  mostly, but. I do.
• 22:52
  I do. But, but decentralization is, is
• 22:57
  the, it's the infrastructure on which our industry is supposed
• 23:04
  to exist. And the things that are being
• 23:07
  done can't really be done unless the infrastructure operates in a
• 23:13
  way that allows these Daps and things like that to be built
• 23:16
  upon. But it's the same thing for the
• 23:21
  Internet, for example, where, you know, there's a lot of stuff
• 23:24
  that happens to make this call possible right now.
• 23:27
  And you and I don't have to care like about it's like, say, you
• 23:31
  know, do people care what kind of what kind of wire wire they
• 23:35
  run from, from what point A to point BI don't really care if
• 23:39
  it's like fiber optic or if it's, you know, laser or
• 23:42
  whatever, as long as like we can have this call.
• 23:46
  And, you know, decentralization matters a lot, especially when
• 23:50
  things are are disrupting things.
• 23:51
  And so like Bitcoin likely would never have existed if it wasn't
• 23:57
  decentralized. In fact, we've seen examples in
• 23:59
  the past where people tried to build these E gold and these
• 24:03
  other E cash and these things that were shut down by central
• 24:05
  governments before Satoshi figured out how to decentralize
• 24:10
  in a way that it was too big to fail.
• 24:12
  Like, you know, even it was just, it was just a few years
• 24:15
  ago when you had senators and congressmen and, you know,
• 24:18
  French presidents and stuff like that saying Bitcoin must be
• 24:20
  stopped. Well, because it's centralized,
• 24:23
  you know, and it cannot, it cannot be stopped.
• 24:26
  And because of that, now we have a path, an option to opt out, a
• 24:33
  Fiat if we choose to. And I think that's a very good
• 24:37
  thing because, you know, you know, depending on who's in
• 24:41
  leadership at what time. But if you look at China, for
• 24:43
  example, you know, they're working on CBDC, the social
• 24:46
  credit scoring system, all tied to a very big totalitarian like
• 24:51
  dictatorship, you know, and that's the way I saw the path of
• 24:54
  America heading to, you know, during the Biden administration,
• 24:57
  there was a lot of talks about CBDC, and they were trying that
• 25:00
  out within the Fed. They had fed now.
• 25:02
  And that would have been a very dystopian outlook for a country
• 25:06
  that was supposed to be free. But at least the decentralized
• 25:09
  technology of Bitcoin allowed us to have an opt out path if we
• 25:13
  chose to do so, which I've been doing since 2013.
• 25:16
  Yeah, yeah, it's no, I know. I was real familiar with the Fed
• 25:20
  Now program and most people, I bet 98 percent, 99% of, you
• 25:27
  know, my fellow Americans who are living here in the US right
• 25:29
  now, had no idea that it even was going on and and could
• 25:33
  really care less right now. I'm like, that's the
• 25:36
  infrastructure potentially for a CBDC And, you know, it's kind of
• 25:41
  like the water main that you that you connect the individual
• 25:44
  house water pipes to. So, yeah, that's, you know, the
• 25:49
  whole Fiat system. You know, I've studied it myself
• 25:53
  as well very, very closely. And, you know, it's a, it's a,
• 25:58
  it's a, it's a bad deal for, it's a great deal for the top
• 26:02
  one percent, 2%, generally 10%, however you want to quantify it.
• 26:07
  But for the average person in the world in general, it's not
• 26:11
  such a great deal. And, and that's one of the
• 26:13
  things that really excites me about crypto, as well as this
• 26:17
  idea that, you know, people can have a fair shot at being able
• 26:22
  to store value and, and, you know, and to get rewarded in the
• 26:27
  future for work that they're maybe doing now.
• 26:30
  And yeah, it's, it's, it's, it's, it's fascinating.
• 26:35
  Very fascinating. Ron, I have to wrap up.
• 26:37
  I've got another call right now. Gotcha.
• 26:39
  Yep, I appreciate. Yeah, we said 20 minutes.
• 26:41
  Thank you, Kyle. I appreciate it.
• 26:43
  OK, I'll, I'll look forward to talking to you next time.
• 26:46
  Thank you. Thank.
• 26:47
  You, Ron. Thank you everybody watching.
• 26:49
  Yep. All right.
• 26:49
  See you, Kyle. Bye bye.
• 26:50
  I'll show your website and stuff now.
• 26:52
  Thank you. Thank.
• 26:53
  You, yeah. Follow me on X and YouTube guys.
• 26:55
  See you around. I'm going to show your YouTube
• 26:57
  channel. Bye bye.
• 27:00
  All right guys, that was Kyle Chassis.
• 27:02
  Lucky to have him on here for a few moments.
• 27:05
  Let me show you his YouTube channel.
• 27:09
  This is Kyle Chassis puts out videos on a very regular basis
• 27:15
  100 and what 52,000 subscribers. I watch his videos great content
• 27:21
  and I wanted to also show you this is MV global that is his VC
• 27:30
  fund. But yeah, always enjoy talking
• 27:33
  with Kyle, you know, and I think about the UFD community as I'm
• 27:37
  as he's as he's talking and kind of how we are growing, how we
• 27:42
  are evolving. And, and even to the extent that
• 27:46
  that squabbles are part of the process, you know that like any
• 27:52
  family, right? I think a community can be very
• 27:54
  much likened to a family. And then any family, any
• 27:57
  organization, as they evolve, there are there are going to be
• 28:01
  squabbles and that that's healthy and part of the process.
• 28:05
  But I also like how we talked about community leaders kind of
• 28:10
  rising up. And I definitely see that with
• 28:13
  our UFD community as well, right?
• 28:16
  We've got some, some people, I won't name names, but you know,
• 28:19
  you know who you are. And it is a truly decentralized
• 28:23
  community. I've said to you many times, UFD
• 28:26
  is way bigger than me. It was way bigger than me from
• 28:30
  about the 12 hour mark after I created it because the community
• 28:35
  had had genuinely taken over. So while I may be the figurehead
• 28:40
  here and I'm always willing to give my opinion on things, at
• 28:44
  the end of the day, it really is led by the community and there
• 28:48
  and there are genuinely opportunities for a lot of
• 28:52
  people to step up into to, to, to make a big difference within,
• 28:57
  within the community, within UFD.
• 29:00
  And that's everything. You know, we talked about it,
• 29:03
  but I know it, right? We are tokenizing honesty,
• 29:07
  fairness, fun, laughter and, you know, integrity.
• 29:13
  Those are our key things. And, and, and, and Kyle talked
• 29:16
  about that as well, right. This mission and we'll evolve.
• 29:20
  Yeah. You know, look, we, we are, we
• 29:23
  are evolving as a community in a very, I think organic way.
• 29:27
  But we know we have our good attracts good.
• 29:29
  We know that we believe in honesty, integrity,
• 29:32
  inclusiveness, and we have people who are, who are a
• 29:36
  conservative, liberal, every color of skin, every country in
• 29:40
  the world, religion. We set all that aside because
• 29:44
  we, we do believe in this kind of common bond that we have that
• 29:49
  we want a fair shot. We want to be part of a
• 29:51
  community and crypto gives us that.
• 29:54
  That's the cool thing, right? The blockchain, the, the, the,
• 29:57
  the, the, the, the Solana, a blockchain, the transparency
• 30:02
  that's there. It's like this opportunity for
• 30:05
  us, the infrastructure is there for us to continue to evolve and
• 30:09
  to continue to grow the, the community.
• 30:11
  The other thing that he said that I hadn't really thought
• 30:14
  about, and maybe that's something that we can work on is
• 30:17
  a community is like a set of rules as we move forward, right?
• 30:20
  Like certain things, certain behaviors may not be what most
• 30:26
  of us deem is acceptable. I'm not going to lay down the
• 30:29
  law. I think it's something that we
• 30:31
  as a community will have to come up with together.
• 30:34
  And, and I want to say this as well, like over the past six
• 30:37
  months, I do believe this community has done an
• 30:40
  unbelievable job of evolving, being self policing for lack of
• 30:44
  a better way to say it. And, and, and, and, and the
• 30:48
  like. So hey guys, thank you for being
• 30:50
  here. Thanks to Kyle for joining us.
• 30:52
  OK, He's a great guy. Got a lot of respect for him.
• 30:56
  You know, he's been, he was an early Bitcoin investor and early
• 31:02
  Bitcoin evangelist. Look, he was talk he talked
• 31:04
  about being at a Bitcoin conference at a library in
• 31:08
  London where there were 60 people there and Ledger brought
• 31:11
  their like prototype, a hardware wallet device.
• 31:15
  And look now where did it go? I got right here, right now
• 31:18
  we've got this, you know, look at these, the the Ledger flex
• 31:21
  device and and very grateful to have Ledger as a sponsor.
• 31:26
  Also very grateful to have moon pay as a sponsor.
• 31:29
  So have a great day everybody. Don't forget this feels a little
• 31:34
  different for me because it's a different format than our normal
• 31:36
  live stream, but I won't forget one very important thing.
• 31:40
  Horns up dusters, right? Let's keep up the good work,
• 31:43
  keep up everything that you're doing out there because it is
• 31:47
  making a difference, right Again that the blockchain gave us this
• 31:53
  really pure opportunity. I had no idea what I was doing
• 31:57
  when I started this, knew nothing about crypto, but I did
• 32:00
  know right from wrong. And I know that you do too.
• 32:03
  And we continue to grow this community in such a robust,
• 32:08
  solid way that I know we've got great, great, great things
• 32:12
  ahead. So it's a big pleasure to have
• 32:15
  you in the basement. Don't forget, please, most
• 32:17
  important, be good to yourself, OK?
• 32:20
  We're, we are good, attracts good.
• 32:22
  But that starts with you. That starts with #1 because from
• 32:25
  there, right, you'll have a good solid foundation that you'll be
• 32:29
  able to spread a lot of goodness to the other people in your life
• 32:32
  and around the world. Have a great day, guys.
• 32:34
  Let's keep it up and let's go, go, go, you.