Transcript: Crypto Is Exhausted but Farcaster Keeps Building

one let's see nope i was like i don't think twitter's gonna work let's see nope okay it does not that's okay what you gonna do so be it we're live on twitter but just not on barcasters account so if you are watching anywhere please retweet recast let people know and i'll say that again in just a little bit because it's gonna be a little less than normal but yeah this is our last show for a couple weeks because we're doing some traveling and moving kids into colleges and oh guys it's dumb and it's sad it's

it's the worst thing ever i got a delivery this morning of a toolkit that i bought my son and i'm going to post this later but my dad bought me this toolkit when i went off to college and the he bought had to buy a hammer separately so the hammer is cut so it would fit in the toolkit it's a very specific hammer so when i got divorced my my hammer disappeared and i'm like where's my hammer and my ex husband's like no no this is my hammer i'm like your hammer that's cut off and has a sticker from a from a place that only exists five minutes from where i grew up sure sure sure like no and it's not your hammer

i got the hammer back i still got it okay anyway so i got him a new little toolkit and it came this morning so yeah i've been buying lots of stuff and all the things so anyway all right well we're gonna get rolling because we got stuff to do today man and one other thing there's thunder and lightning outside my house so if we disappear for a minute or if i do you'll know why and i'll be back but anyway before that here we go a little intro and we'll be back on the other side of this 67 while we're gone retweet recast let people know you're watching we'll see you in a minute

gm farcaster it is monday august 3 this is our first august show and then the last one for two weeks you are here with nauter from and adrienne over twenty nine minutes of forecast news to start your day plus some builder updates and other things retweet recast let people know you are watching by the way when i started the intro i didn't realize something i said we'll be back on the other side of the sixty seven seconds which i always say all the time my son heard me he was standing in the kitchen and he goes did he go sixty seven

like goofball we have a lot of fun things to talk about today so let's dive in not some fun things actually to start with we got some what we like to call national and international news there was a big hack of cold card not something i've ever used before but this from jay velasco reading this the problem was not self custody as some people is are pretending it is a huge error of the company the problem is not ai as some people pretending and there any hacker could find this and there are ways to get a subset of people who could be the hacker ip tracking and stuff like that ask bill gates interesting but here was what happened according to deep analysis from galaxy research the core theft unfolded in a tightly coordinated burst lasting about twenty five minutes while broader analysis later connected roughly 1,196 addresses and as much as 1,083 bitcoin valued at nearly $70,000,000 to activity spanning approximately forty one minutes the final figures could change as investigators continue tracing transactions on the public blockchain and it's a five year old bug so this was something happened in the firmware back in march 2021 onward so if you are using cold card as cold storage you need to be aware of this so that was kinda crazy

thinking you're totally safe

it's sad yeah i feel bad for those who were you know that's where they were storing their bitcoin

and you had some good comments on this actually i would say for

yeah and you would and you also mentioned in this cast i've lost everything in a hack in quotes unless and not that you did unless you are truly unbanked or have no access to literally any other resources this shouldn't ever happen don't put all your eggs in one basket diversify your savings across different assets and consider risk when deciding how much to place in each basket never put everything in one asset class institution or wallet and if there's a chance of total loss even if small you should probably only have what you're comfortable losing and i mean in general with crypto you should only be thinking in those terms that last part as well always and i say that in class a lot so be careful out there yestocrypto also had posted always post ivan on tech but today he was talking a lot about this hack so if you want to hear more about that i do find this to be a really good podcast as well especially on more technical or trading things defi that kind of stuff so this is probably a good one to listen to moving on a few other related things this was interesting kenny had posted this what happened $5.00 $8,000,000 raised and then these are the current fees in in some of these projects and wow so this made me feel better about clinker fees that have been coming in wild this is crazy crazy crazy barachain raised 142,000,000 and current fees are around $26 a day like nobody's using it celestia scroll eclipse sonic manta wild manta has $6 in fees this is wild so $5.00 8,000,000 raised 176 in daily fees that is wild vcs are also crying in this market yeah i'd say so this from accountless this is all kind of related crypto world is exhausted right now it's it's not even exhausting it's exhausted i think that is a good term good good phrase there oops i just wanna fix that real quick crypto world is exhausted right now it's all just gambling prediction markets mean points and fake ai products not always not all fake shout out dennis ai but and banker but yeah when i doom scroll i'm looking for links to something someone wrote or a github or a product demo it's not even noisy out there it's just empty and yeah i think a lot of people are feeling that way and another news i don't think the clarity act is happening literally it's this week or it's not and i'm not feeling it and i think anthony scaramucci had some good i i can't believe these words are coming out of my mouth anthony scaramucci had some good thoughts on this that are right on point so now it feels like the republicans don't want the clarity act to pass so that they can blame the democrats for not passing it and then seek denotions for from the crypto industry in the fall this is a common tactic of both sides let me tell you going back for literally decades and decades we saw this with abortion for decades in order to keep women voting for the left they did that for decades so this is a tactic that happens a lot where they want to keep the issue so they want to keep the issue they don't necessarily want to solve the problem so this will not surprise me and where he's pretty tapped in i'm feeling like this is a likely scenario so stay tuned folks and a lot of people are saying it doesn't matter because the sec and the cftc have made the rule changes but it does matter long term because it is very it's not very easy but it's much easier to change rules in a administrative agency than it is to change law that's already been passed by congress so this is why it's been important and there's been a lot of things put on hold waiting for this so it's important in a number of number of ways the market effects that we've seen a lot of them are related to this as well so this is not good and i i feel like you know it's i'll be really shocked if it makes it through this week it's possible they come back from the august recess and get it done it is i would say that probability is tiny it really needed to happen before the fall so here we are so that's that

losek i think it's

i don't know i assume i don't know

yeah we could talk about it i'm good

and yeah

i've been so for those who don't know like my background at all like i went to school in washington dc college and i my plan was always to work in politics for the rest of my life go to law school work in politics and i by by my sophomore year like into my junior year i should say i was like i'm done i'm out i can't do this i hate this place they don't get anything done that was in 1990 when they actually got stuff done and they were working in a bipartisan manner i mean at times and that's what and i was already out i was like i can't i can't with these people and i you know worked on the hill for a democrat a senator who was pretty big in the democratic party and then i worked for the national association of manufacturers lobbying group which was on the right right side of the aisle cause i wanted to see from both perspectives it was the same it was the same so we've been here a long time it's been the same shit different day for decades and it gets worse constantly and now we're at a point where it's just like the worst

you're talking the swing now is like this it's minuscule swings it's really bad and that's why like you see you know anyone who's taking big swings who's really wanting to make some change is getting attention because if they're willing to actually solve problems they're going to get attention regardless of what party they're in regardless of their ideology because they're actually doing something and that's why they get attention for it and i'm i'm thinking of i'm thinking of new york city at the moment it's like you solve one stupid problem and they're like you know because nobody's been doing anything forever like even if you don't agree with their ideology it's like oh you actually got that tree removed i've been trying to get removed for three years or whatever because nobody gets anything done anyway that's enough of that this is not a politics

politics broadcast but i'm i've been i've been frustrated watching everything going on with the clarity act for so long that yeah here we are and i think we're at the end of the road with it but we'll see maybe we'll be pleasantly surprised i will say the one saving grace the one saving grace that might pull it through possibly is that there are some some pea some senators who are very pro on this act who are not running for reelection like senator lummis she's not running for reelection she's done she's retiring she wants this to be something that's part of her legacy so it's possible it's possible yeah let's not let's not do that that would be a whole other thing there'd be a lot of anger

yeah yeah like we really try to stay away from this and the only time we really do talk about it was when it crosses over into crypto and what we do here if we got into the other stuff man it would be bad it would be real bad moving on to local news as we like to say this is from brad q twenty nine seconds of forecaster what did you miss this weekend it feels like p o i d h is thriving during these slower months i would agree arjun toupon's was july's best bounty with sofacast inspired poetry luciano's bounty for collecting your first kismet art and kay macb with world cup watching for football infused energy into the july feed really love been loving all the bounties that i've been seeing a lot of them are so fun and was really happy that we could help with that with the cef speaking of infusing energy cef round three winners were announced and we did announce those on friday i'll go back and talk about that in a little bit when we get to the builders speaking of carrying the slow months betterment continues not only to survive but thrive despite despite the bear doing so well it can burn supply taking a patron from hyper liquid we're gonna talk about that in just a moment and you might want to check out my background too look at that sporting the betterment background today from mfa a little art from mfa and then we're back with their last show of two weeks who gave them time off i want to speak to their intern you're gonna have to talk to hr brad we did request pto and yeah so we're off for two weeks so go to go put your complaints into hr if it was an opportunity

i mean hey go right ahead you're welcome too we'd love to see it mhmm no one's stopping you this is permissionless no one let us do this dan was like are you doing what okay anyway back in the day this from the farcaster intern we forgot to talk about this last week introducing the intern's desk a place to collect feedback in the open so you can see what's already been said and where it stands report from the app or paste a link to a cast bugs feature requests questions news new launches things you're proud of requests for feedback that's a by the way that's a good point you can add news there that you want that you're hoping the intern might recast etc if it's of interest to the larger community they might oop am i still here okay we had a little flash put lights

wow you're great okay oh my god let's start talking faster

they are they are should we be filmed not even a little bit not even a little bit first of all you know what if anyone puts anything in there we can actually see it because it's public so we can actually might help us might help us

by the way my lights just flash i'm gonna talk faster upvote anything that's happening to you too you agree with or any additional information to the existing report it also shows any current known outages so you can check before you report tracks where bug where reports are in our pipeline and you can notify you as reports progress let's me send questions back to you user feedback bug follow-up shows your neynar score how it works and a way to request a human review if you think your score is not accurate currently reporting needs a point seven neynar score requesting a neynar score review is open to any score you can still tag neynar or forecaster for reports i will still be checking those this just creates a central repository of reports come tell me things i've been trying to do one professional development project a week this week i made a mini app yes it's only tuesday i got carried away last night this was from last week so there you go and it's really cool it's a great little mini app go check it out go report something or just ask a question or whatever very cool but also you can just look through it you can upvote things very cool go check it out all right moving on again i'm like now i'm scared because i feel like my thing is gonna die in a second oops i lost peachy here hold on one second i lost something

this from peachy if you think farcaster is more quiet lately you are right but it's also very lively if you know where to look challenge for the week spend some time browsing these channels slash diet slash japanese pub hyphen pub you can now read them in your native language easily and respond if you'd like to find some new interesting forecasters to follow and make your timeline more lively i think you will learn something new and find some new faces who post often and will add your to your enjoyment of forecaster don't take my word for it browse today and this was in response to mizzou posting this we put together our thoughts about our channel and community and this is pretty long but i'd suggest go taking a look there's it's really cool and i was not as familiar with this channel either but it is a very strong community in terms of this particular channel so go check it out lots of cool stuff here and there's also our wishes for the channel a notion doc you can take a look at as well so they're not only sharing about their channel but what they'd like to see from channels and how to improve it as somebody as as a group that is using channels prolifically i would say so very cool good to see this from nikkita

and your background that's why i'm laughing software as a medium expression i'm like i know i've seen that background somewhere before so yeah rish had posted software as a medium expression we've been talking about this for a long time we've been doing it for even longer and yeah so making a bear over on twitter last week photos and videos were how the last generation expressed themselves today's form of expressionist software who will create the next viral game or app that plays right inside of the x timeline

okay i'm not even getting into it because i'm annoyed not because x is doing this because obviously they should be makes a lot of sense i'm i'm more annoyed that for some reason the base app couldn't get their freaking act together and that's where i'm annoyed anyway and didn't think it was important so anyway there you go but i've also heard that you're gonna need grok pro build or some some like higher level of grok in order to do it you're not gonna be able to like bring your own code and i think it's pretty expensive so what i would suggest to anyone who is wanting to build something over on twitter is i'd go try it on on farcaster first because you'll be able to do it a lot cheaper work out your bugs get real good feedback before you move it over there

need to be approved yeah yeah so i would recommend that if you're thinking about doing something over on twitter x as far as far as a gamer app for their new launch i would recommend building it out over here first because it'll be very helpful to you you can work through everything before you spend a shit ton of money to bring it over there this from clankr clankr started with a very good abstraction have an idea tag a bot deploy a token making the hard thing feel simple was the product the simplicity works so well that people started confusing the interface with the infrastructure underneath it the bot is still here the simple launch is still here but clanker is also the contracts the sdk the interfaces other people build the markets a token enters the fees it routes and the decisions a project makes after the first block token launcher is accurate but incomplete and i think this relates directly to v5 which didn't launch last week but hopefully will be launching soon there was something found in the audit so they're doing some reworking and you'll see more soon and again go take a look at tinyrainboot's video for some some little sneak peeks of what's coming but accurate yeah there's a lot more under the hood than a lot of people know about because they just see the they just see the hey clanker launch blah blah blah and by the way right now if you're thinking i should go launch blah blah blah don't do that just don't do that and if you do at least you know give me credit get a launch blah blah blah this is from quotient

you would go to some of the other ones forms yeah i'm sure it exists in many forms this from quotient dollar sign quotient is now live on robinhood chain quotient signals uses q our ai forecaster to find mispriced prediction markets and perps for long for short term trading hold 10,000,000 quotient to unlock quotient signals access lasts as long as you hold so go check this out d y o r n f a all the things i did get in via autoboy and i do have 10,000,000 sitting in my other wallet so i could use this i still haven't but i'm going to so very cool and it was cool to see them use otavoy for this it is live on the robinhood chain and it did launch via banker really wish they had used clanker but what are you gonna do if you want to learn more about what quotient is we had a great interview with ruminations and shira back a while back you can just ask warpy and it will direct you to to that particular episode and then more on this new quotient signal this is an example of the quotient signal ueda said september is live one board member already dissented for 1.25% the outlook report flagged inflation exceeding 2% the strongest language yet poly market 40% quotient 65% so that's where they're talking about these mispriced markets 95% of economists say october or december the boj prefers gradual normalization but when a governor tells you the next meeting is live 40¢ isn't pricing that correctly hold 10,000,000 quotient to unlock more live signals on trade.quotient.social yes i'm doing an ad for quotient today just because i think it's cool honestly yes i do hold the token but n f a d y 0 r again but i already thought they were very it's just a really cool approach to prediction markets that are very different and more data based rather than just gambling based if you will so anyway there you go this from lefteris.eth in the ethereum channel it's hard to believe it's already been eleven years on 07/30/2015 we launched ethereum from a small scrappy office in berlin's kreuzberg so much has changed since then ethereum has undergone so many transformations yet one thing stays the same ethereum is the world computer

very cool so that was really cool and then this happened jack butcher launched a jack butcher and eth labs together collab and made this happy birthday ethereum 11 by 11 pixel art this was so fun i really enjoyed it really really enjoyed like first of all love pixel art second of all i loved the collaborative nature of this so you could go and do this on that day there was only twenty four hours you could mint other people's stuff you could create your own little groups so i did create a farcaster group i think you can still join it this link will be in the show notes if you want to so if you created something over there on networked.art join the farcaster group so we can easily find you very cool and there were some really creative approaches to doing this so luke weaver did this whole thing with the way he minted them so he could end up with this piece and it was really freaking cool so you can read through this this will also be in the show notes of how he did that and sort of what he went through to make sure he got it the way he wanted it the creativity was really fun and i enjoyed seeing like i saw priyanka doing them jay velasquez toady finally put one out there i had a couple bunch of people did eth daily there was a whole bunch so symbiotec so if you ended up putting yours on there like definitely join the farcaster group so that we can find them and show them all but it was really fun very very fun great way to celebrate

ethereum in my opinion so i enjoyed it here's the forecaster group does it show the network hold on let me see if it shows a network oh i can't find it oh i gotta open the group never mind that's why it showed like the little network that it was building and it was really cute because it showed the art i don't know if it's opening yeah there we go so there's a little there's our little network and it shows the different pieces that that are part of the network do you i mean obviously that's b broad you good job by

so good and i missed minting that because he did it too late but i did i love that you got los fomos

higher from katra

where's some other ones that were really recognizable we've got some arches some got a few arches that came in we got a little d gen hat

another arch that was really good priyanka killed it with the new arch there was some foam oh there's my gmfc that took way longer than should have and then of course my noggles are in here my particular noggles there's brett draw stuff yeah so anyway really fun thanks to everyone who participated and joined the farcaster group so we could find those easily all right hold on one second i gotta bring up my other group of things and we are almost done

it's rumbling like crazy yeah it's rumbling like crazy okay on friday we announced our newest clanker ecosystem fund grants round three if you go to gmfarcaster.com/cef you can see all the grants that we have done round three two one and the creator sprint and see all the projects that were rewarded and learn more about them you can also learn about the cef and what it's all about and congratulations to max jackson rug club comprene empire builder zowins of all games quidly quizzy clanker cats poid and binny app for their grants so very cool and thank you adrienne for creating an awesome website to make this very easy to share i appreciate you okay moving on speaking of this from on after getting a cef grant i hate it when it does this i thought it might be useful to reintroduce quidly connect connect quid.ly is an api you can also hit straight from the cli one call lets your users send crypto to their contacts by social handle farcaster x github telegram discord whatever no wallet address required reputation scoring is built in to let you validate and filter counterparties based on your own criteria that can be socially verified it's agent native so you can plug it plug in its features and your social graph straight into your agents and models via mcp.connect.quid.li describe your requirements in plain language and it'll autonomously resolve recipients and execute transactions on your behalf so really powerful tooling honestly like i i think it's underestimated or under under known what what it can do so that was why it got a cef grant it was one of the first areas first outside of clankr that you could actually do a token launch as well back in the day and then this from betterment they've been continuing to share the artwork that was part of the cef competition and this is today's current one which is from mfa and it is my background as well i just really liked it so i thought i would share it but you can still mint any of the ones that you see in the betterment if you just go to betterment on farcaster you'll see all of them showing up in the feed here and if you see one you like go mint it you get to spin the little wheel and most of the time i end up getting back what i put in or more so not always it's a wheel it spins you take your chance but it's a dollar to mint dollar usdc and you're supporting an artist so go check it out they're really cute they did a great job on this clanker verse artwork so i've really been enjoying it and really like today's so congratulations

the artists who are part of this and then we had this from toadie hawk who tends to be really wordy so i am not gonna read this whole thing bottom line they did a big burn of better but you did start with over the past few years hyper liquid has proved out something important when a protocol generates real revenue using a portion of that revenue to reduce total supply can be a powerful way to align the community long term even more impactful and memetically meaningful than proportional revenue share inspired by the tokenomic success today we're introducing the better burn program effective immediately staking yield on betterment will be capped at 2% apr rather than fluctuating with app revenue since day one every better token distributed through our staking portal has been purchased by us on the open market as part of our in app flywheel in fact we've distributed almost 6% of the total supply to our most loyal stakers since launch there have been toe token emissions or inflationary rewards and that's part isn't changing what's changing is where many of those purchase tokens will go straight into the bonfire so part of the tokenomics of better changing a little bit and you can learn more by going to this link which will be in our show notes so there you go and in other cef news so i'm not gonna show this video but i just thought this was really funny the way he picked the winner last week for the top dog was via a cameo so we had bob pick via cameo purchase as to who was gonna be the top dog winner for last week who won $50 worth of the dog token i believe and he did that using some of the cf funds that he got for doing this program so there you go it's a very cool

was it

it was almost like can't remember maybe eight people it sounds familiar

i think you're right i think you're right it was yeah that sounds vaguely familiar but this was just like this just cracked me up because this and and he had no idea what was going on either so it's really funny so go watch the video because who's

i think it's somebody we should know

because i'm not it's somebody yeah it's somebody people do know it's bob schlebert i don't remember but he like was like he didn't know what what it was he might be the be is he a competitive eater or something i don't know

maybe maybe i'm not sure but it's somebody who was like oh i don't know what this is but maybe i should go eat some hot dogs so anyway it was it was really tik

tik tok or influencer maybe could be but it was really i thought it was a very creative way to do this because he doesn't know anybody he doesn't have any pre existing like thoughts on the on the competitors so i just thought this was really funny so well done mike you amused me this from wbens our friend is going to be building something every week throughout august so wvins in august i'll be launching a new app every week but this wouldn't be possible if i was having to rebuild login payments emails mobile app shells and more every single time i need to be able to one shot my prototypes using a coding agent quickly and get the boring stuff done fast so i can focus on the actual app the unique parts polish and marketing so solving this problem is the first app i'm shipping it's called oneshot it's a bit rough around the edges heading into this is a weekend so i'm hoping to crowdsource getting help breaking it so if you read this far it's a dollar through sunday sorry guys that was yesterday next week it'll be 49 as i continue to add more features eg crypto if you're working with ai wanting to ship prototypes fast and tired of rebuilding the boring stuff grab it come along for the ride and let me know what you think so idea to working prototype in one shot and also i think he was gonna give you access adrienne so he think he wanted your feedback so go go hit him up

on vacation

i don't know if he knows that part he will

i will be she's doing no shots she's doing different kinds of shots

that's funny but very cool and i'm really excited yeah i'm excited just to see what he's building like he's always been he's a great builder so make sure you're following him he'll be building some cool stuff i guarantee it so make sure you're

we love you baby bands say angel going to be posting weird shit on x as part of a new art artist persona damon's renamed the harmonybot account follow if you already don't we'll always post alpha here first of course so make sure you're following wurplets ai over on on x because i don't know it sounds fun looking forward to it

i'm gonna post weird shit i'm gonna post weird shit alert alert it was just alerting us so if we see weird shit this from your berserker empire builder is now fully multi chain you can now deploy empire clanker tokens or go tokenless and treasury vaults on robinhood monad bnb chain ethereum mainnet alongside our existing options based in arbitrum that is awesome especially because we've been having a robinhood summer so that's really cool empire staking boosters and airdrops are also fully multichain with boosters and airdrops additionally available on polygon and optimism all made possible by clanker and splitz who built the multichain foundations powering this expansion for creators builders and founders this means multi chain no code infrastructure to coordinate their projects on chain on chain creations while identifying and rewarding the active core communities helping those projects grow their dreams into empires yes if you're working with an llm on your on your building you can find our ai skills info at the top of our empirebuilder.world website so very cool love love love that you're incorporating more chains that's fantastic and they're always they're always building and they were part of our grants that we just announced on friday on thursday because this is this is why they're just building cool stuff this from mendy mendy benberik this was something you pulled so the trickster comes home azavan the raccoon launches an immersive digital world for kids cartoons games and for adults a limited nft collection and abenaki legend springs to life so this looks fun go check it out

raccoons and raccoons are having a moment so you know if you if you're if you're familiar with jimothy so raccoons are having a moment fantastic i love it looks beautiful and last thing who is the low lowest handicap on farcaster if you play golf go drop your handicap in so i i tagged

he's a golfer he posts a lot from golf courses he posts like he'll post pictures all the time from golf courses but yeah weird but

that i was about to tag goose but somebody had already done it and i think goose might be the one he's a three handicap that is

incredibly good if i mean you're getting close to pro level there so yeah so looks like goose right now but if you think you can beat goose on the golf course what

he's at about a five actually he's not on farcaster i did mention him i think he's about a five handicap right now and he'll be working on improving that starting a couple weeks so yeah he's gonna be in the professional golf management program so that's his gonna be his profession hopefully

a few years he'll be teaching people how to play so that's yeah that's that and you need a 12 handicap or less to just be admitted into the program that's great so which is a whole thing by the way i have to shout out my shirt if you know what this means put it in the chat karl's a mess if you understand the shirt give me a little shout out in the chat or in the comments

that's all i'm gonna say about that and i found my hat

karls and ness and i found my clinker hat it was just in my suitcase and i just couldn't find it for what i was looking for

hidden under something it was in the wrong no it didn't custom did not steal my hats because i was missing this one and my kryptot hat and i had put it in a different spot because i those are the ones i was wearing the most i had a whole other stack of hats that were in a different suitcase and i just couldn't find it so anyway found them i feel good now anything else before we call it

covered it all

yeah we'll be back july 18 i think we're coming back on a tuesday so yeah and that's that so until then everyone have a good one we'll see you soon and yeah bye bye