Listen to a panel of HNS experts discussing extending name claims and halving

Transcript

foreign [Music] foreign [Music] [Music] how’s everybody doing seeing lots of

01:03
ones in the chat like a little gamification like hey hey everybody awesome first time I seen you in cam I think my my neck it’s great Colin’s back awesome um I think there’s some unfortunate news I saw on Twitter it seems Steve Mackey’s father passed away like I just saw on Twitter I haven’t uh you know literally like an hour or two ago so I believe that we shouldn’t believe he cannot make it then um yeah everyone send him his condolences it’s a really tough one so um unless he’s

01:43
here I don’t know I swear I saw a tweet is he I’m seeing is he here now maybe yeah okay I’m joining from my uh my laptop I was having some technical difficulties I’ll be I’ll be in a second okay no problem thanks for thanks for making it okay I want to make the most of this time so I’m gonna I’m gonna get it away Colin’s moderating uh take it away calling all right hey thanks Mike and thanks everybody for for being here um I think my job here is to talk as little as possible so you can hear from

02:17
uh you know four individuals who have a lot of expertise with handshake and DNS um and uh all the activity that’s happening in the ecosystem here um could I ask you guys uh just really briefly to um spend a few seconds introducing it to yourselves um Paul can you uh kick us off foreign yes I am Paul um y’all probably know me by now NetApp would be I love the internet I’ve been thinking about uh Tod since 15 so over half my life ago um yeah just happy to be on the panel cool how about yourself Mike uh I’m Mike Carson I uh the founder of

03:02
impervious and I also before that founded park.io great um mank hey um I’m just a Community member like enthusiastic about blockchain and all the technology is like empowering people I’m based in New Mexico USA and uh and and myself um I’m a Stephen Mackey um I’ve been working in the crypto space doing product growth and research and investing for about 10 years now um I was part of the early kind of purse uh Bitcoin team and like launching the technical initiatives there um and then started my own fun and was

03:47
one of the earliest investors in handshake and helped launch the network um so I’ve been a part of the ecosystem since the very very beginning before handshake was even an idea and um I’ve been trying to play my role in mismanaging as many technical projects and helping to like build the first like bootstrap like networking layer for the kind of the greater ecosystem to grow from awesome all right well thanks Steven thank you all for um thought um you know so related to the you know the actual panel description

04:21
today um uh some some of the topics that the handycon team put down were um extension of uh name claims and and the upcoming handshake having so I’d like to move to those in a second but just real quickly um uh to get everybody involved and uh keep things interesting you know it’s been a year since um we did one of these uh handicon um and just wanted from all four of you guys to hear quickly you know however you want to look at this in the last year you know what’s the biggest accomplishment of handshake or if you

04:54
want to think of it in terms of what’s what’s what’s working well for handshake right now keeping in uh you know we’ll get to negative stuff too but keeping in in with the theme of uh you know positivity with with the conference um Mike any any thoughts on that well I mean you know for me uh coming from the traditional domain industry like it’s always I mean it’s a good well first of all I think handshake is the you know the best solution out there for for decentralized naming and it’s it’s

05:28
nice to see a lot of you know people from the traditional domain industry coming in like in Circa was really early on and um 101 domain namecheap pork bun you know it’s it’s it’s great to see that it gives a lot of validation I think to handshake um yeah and just on our side you know on previous side launching in previous domains I think was a you know it allowing a decentralized second level domain option on uh decentralized top level domain is uh I think it’s important step and um so uh that’s been

06:10
one thing that we’ve done this year that’s cool and you know validation is a good good word for what you were describing before um having that interest from the web 2 World um my aunt how about from from your perspective yeah I see the upcoming having I mean having even a very important one because so far the protocol has been working smoothly there is no glitches glitches and every smooth like Chinese transition from to the having it will gain lots of eyeballs like yeah the protocol has been working and probably it will attract

06:44
what we See’s and probably it will help us shoot us more mainstream like that’s what my thought is about having and about the coming name claims earlier when we had the first year of auction they were like not too many people not too many people knew about it but I see lots of people learning about handshake they’re like interested about and say once they come into the script they’re like really interested and they know like yeah this is the best solution out there and they are getting a stick

07:12
to this ecosystem so yeah at the coming name name release in February will bring like lots of lots of traction which up I hear you um Stephen how about yourself your perspective from the the last year or what’s working particularly well right now I think we’ve been through this sort of very elongated period of application related sort of experimenting um and kind of the first ones being marketplaces which is kind of what uh what we would expect once people you know get their hands on tlds um you know they’re going to come in

07:47
initially for speculation and then they’re going to want to speculate on the sld side of things so like impervious and you know those projects and um you know the other future like you know secondary like markets that are you know enabled like dslds like those are going to be interesting um you know of course now we have like super link here now as well um with like surname tlds uh and slds um so I think that’s um you know it’s a good example of like we first needed to see what applications could be built on

08:18
top of the core protocol like as is before we get to like understanding like what needs to come infrastructure-wise so I think we’re definitely maturing naturally and in a good direction that makes sense um Paul I saved the best for last year how about yourself uh my favorite things of the past year I there’s so many um I looked at the shake for ideas because there’s just so much that’s always happening uh well the shake one being such a great resource for all of us to just come through and see what is

08:53
happening not only in handshake but in the uh General crypto community um the parent company of pork bun claiming their uh Reserve utilities on handshake was pretty huge because this is like not only did they go oh yeah we’ll you know jump into handshakes sell uh sods and whatnot um having their own Tod in two different worlds I thought that was pretty cool and then for the kind of like more I I guess like uh coder uh Arena hnsd going to V2 and Bob wallet gaming multi-sig I think those are two very big things that are just going to unlock

09:45
more potential for the upcoming year but one other thing if I could just add one thing I that I forgot to mention is that one thing that’s big is the top level domain sales I mean those are like record you know this huge like they’re they’re selling you know I think namecheap bought two single single letter uh tlds for oh combined over a million dollars or something like that so I mean that they’re selling more than I can tlds uh some of these so it’s and and they’re also it’s like the highest

10:18
uh like decentralized like more than dot eth I think also and so yeah I think that’s a you know that’s another thing that’s really validating and uh good that’s a that’s a great point I I didn’t even have time to mention it in my previous presentation but um you know just three names that were closed outside a name base you know secondary sales um dot s dot e and Dot nft that’s um 1.

10:47
1 million dollars of sales right there across the three um so you know I know sales aren’t everything but to Mike’s Point you know having that um that’s a heck of a way to get people excited about the community here um you know wanted to be conscious of time here and I know we touched a little bit on that the having um but uh you know we’ve got a lot of new people and Old-Timers and in between here at the conference Stephen you’ve got kind of a gift for um breaking down Concepts would you be

11:17
able to give a quick overview of you know what what is it having and what’s the significance for handshake why is this momentous um yeah thank you yeah of course um so you know we have like the basic mechanics of you know the chain itself where you know we’ve got you know 10 the it consensus and protocol aims for 10 minute block times you know there’s things that fall in the outside of that rain sometimes sometimes we get multiple blocks but the idea is 144 blocks a day right there’s 2 000 hns per block so

11:51
that gives us what 288 000 hns per day right at the end of the market there’s roughly four or five major pools that are like mining handshake right now uh and so handshakes move from this you know early GPU like you know mind like asset as we you know bootstrap you know the initial like community of the network and then that moved to larger miners getting interested by not having an Asic right away so then they started mining with fpgas and then we got some of the earlier A6 from gold shell and then now bit main as well so we’ve

12:23
matured to you know two magic Asic producer you know ecosystem you know with varying price levels and you know for people to come into like a few hundred bucks at Gold shell with some of the minion Miners and you know the larger more efficient miners that are like almost like nine Tera hashes plus that are in the 2500 plus range at like bit main so you know we’ve got these two rival competing like outfits which is which is like great as far as like the health and network goes but also a lot of these major pools so these major

12:48
pools are you know mined by other larger um you know mining uh pool uh owners that you know have have large warehouses of miners you know distribute All Around the World in this particular instance a lot of those are in Asia and so these major pools are going to now like have reach a point where uh they’re gonna there’s gonna be even much less hns like 50 at this case to the point of The Happening that’ll like go on sale to the greater market like each day but uh I would I would reckon that most of these early miners are

13:23
being handshake um because there’s these major pools but there’s these different operators that are mining you know and just pointing their their um their Asics at those pools so it’s not the pools getting all this handshake it’s the actual individuals themselves uh and the different businesses that operate amongst those pools so as the asset becomes more scarce I believe there’s just going to be more of like more collection because name speculation seems to have been like kind of the Advent of the kind of the major

13:50
interest in handshake so as we see less like uh agents going into the liquid I would say like the greater markets there’s going to be more and more speculation for hns like tlds and slds hopefully using the hns asset uh you know depending on where you’re at um and you know we’ll see larger price markups there as the market begins like speculate and with this you know uh lesson Supply on like the greater market and so it’s not just the like this year economics of like supply and demand here it’s also mostly just from individuals

14:22
persons businesses you know adjusting you know with the either like you know increased volume uh of like the USD BTC volume against like the hns asset as it becomes more scarce um but then of course we also have the other market fund um kind of functions of like the Burning uh on chain and you know the the secondary marketplaces so a lot of us a lot of this we’re still learning in real time but you know everything you know just the points to you know the increased greater demand of the h s asset and you know the protocol

14:54
as a whole and you know a less amount of that asset like being liquid so it’s just a good Vector for like speculation that that’s really helpful Stephen thanks thanks for coming into that detail try to do my best right off the cuff and I make it too long but it’s a complex thing welcome to the club we’re getting jackets made um I I wanted to um also hit on um you know name claims like I mentioned before one of the um uh you know topics for for our panel here and and particularly around there’s been some

15:25
discussion around extending name claims you know Mike given your background in the web 2 Worlds and that um you know like Paul brought up a minute ago um you know pork bun has claimed a couple of their top level domains on handshake can can you you know I don’t want you to ask you to speak for everybody but can you talk about you know um what you’ve seen in terms of like the web 2 perception of this this idea that the handshakes creators had to reserve these names and make them available for both existing tlds and

15:58
um uh you know the Alexa top 100 000 websites you know has work no somewhere in between would love to hear your thoughts yeah I mean it’s a complicated thing the Collision the whole Collision uh thing um and also distribution of the names um you know it’s a really complex thing and uh I think they did a lot of things right you know the founders they you know I think uh like for example name coin when they first uh launched is like anybody could get anything for enough basically pay nothing and so the

16:37
whole namespace was squatted on and like that nobody you couldn’t really use it and so I think they learned from that and they you know did it over 52 weeks and they also reserved all these which I think is a good thing um but yeah uh so I think it’s something that’s um I yeah I think it’s you know a lot of people in the traditional domain space and probably a lot of people are like why do we need this you know what’s the why do you need a decentralized domain like what happens if you lose your wallet and uh and so

17:15
you know we have to I mean I so I I think that um you know I think there’s a lot of things that were done right but there’s still a lot of problems that are hard that we’re gonna have to figure out along the way and I think one of them is like yeah probably extending the name claim um I mean I personally think one problem you know after years of working in handshake uh one problem that I see is that the value of H S the coin is not tied as much to the names like for example you know some of these clds

17:55
are selling for hundreds of thousand dollars close to a million dollars but the coin just keeps dropping and dropping and dropping to almost zero you know and that affects the security of the blockchain so I think you know there’s there’s work to be done like you can’t expect them to get it all right at the first time you know and so I think that you know we need we need developers we need people we need developers to work this out to figure all this out because it’s a work in progress and it’s

18:22
not something that is solved yet you know it’s just not solvent it’s something that we got to keep working on sure that makes sense you know Paul you’re coming at this from uh a development background among others um what you know puts you on the spot a little bit here um what do you think um you know is is a is a fork in handshakes future or audit to be um and you know shouldn’t should more time be allowed um to help some of these Legacy web participants um you know adopt and interoperate yeah so I actually created a GitHub poll

19:04
asking this very question and uh just well just to have all like you know these disparate thoughts in one place and I’m of the opinion that we should extend because like it’s yeah we know about it but that doesn’t mean everyone else will by the time like these uh I can tods expire I don’t think they should be released ever they should just be reserved and then we can continue to interrupt with Legacy DNS because like Mike mentioned like I definitely see if it’s not extended and that anyone

19:49
else can just claim a.com it we’re just going to become name coin and then it’s going to be like really like what’s the point this is it I don’t want us to be another one of these like failed trash blockchain things because it’s just a whole bunch of squatters and first come first serve kind of mentality um for short-term success or short-term financial gain just ruining things for every everybody else long term so I mean we shall see uh right now we’re still kind of like oh I think it should be this I think it

20:35
should be that but at some point we’re really going to have to figure out like what are we gonna do and despite all of the uh well not well some naysayers like oh no we should just like Have It Wide Open I’m curious to see if these people will like create their own fork and just be like yeah everyone come come over here I doubt that will happen but I mean anything’s possible that’s that’s a some some good insight there um Switching gears slightly but I think this relates somewhat um you know Mike you or Mike and Paul

21:16
both both brought up good points about the value of hns and how you know to what extent is that tethered you need hns to register and you need hns to renew what’s a renewal cost you know 0.02 handshake right now so it’s not a huge driver and for some of these um you know some of those big ticket TLD sales that Mike mentioned um weren’t settled in hns you know those were settled in either dollars or other cryptocurrency um so is that really creating a demand for for the underlying coin um a lot of

21:48
people probably saw in the the news uh probably saw on Twitter this week that um you know name base with their new feature in the search um is increasing Marketplace um fees from three percent to ten percent and um you know I’m interested uh in this in in part because of I wonder if that’s going to drive more people to Private Sales um you know just person to person but my Inc as a you know Community member and somebody who is in the market as a buyer and seller for tlds um do you have any strong feelings about

22:22
the name based change and I guess more generally you know their new Marketplace is coming up now um how do you see that that landscape with with these changes happening yeah definitely 10 percent is like a big increase from three to ten percent it’s like three types the earlier words so people are fairly about it but at the same time database was to like develop the ecosystem so they need first so they come up this with this thing but yeah definitely I still like more people going off the market and selling P2P and

22:52
they are like other marketplaces too like Shake decks D-Day so I think it’s a blessing in disguise if people can move to shake eggs and D-Day it will like better for the ecosystem so overall I see it’s like a positive effect that’s a great point and you know encrypted already has announced uh I believe that he’s going to be launching an escrow service or has already so you’re right about the opportunity it creates yeah I really like both places neighbors should not be the only one it’s like

23:25
against the whole ethos of the of what to be working on say yeah so I’m happy with whatever database is doing because they’re not bad actors they did good for us they have some good stays or whatever but yeah I see people like trying to move to Sega X2 which is a good thing that’s right and um you know competition is good just like Stephen was saying as it relates to um companies that are producing minors for handshake and Mining pools um more competition in the marketplace front is is something that could help

23:56
all of us um we do I’m some neglecting my moderating duties by not looking at the actual q a panel at all here from the audience um but wanted to um wanted to to check in on here um so we’ve got one question um I think this is Mike um copying Mike Mike michelini copying and pasting for somebody but um Paul it’s directed for you but anybody jump in um says at handycon 22 I asked a question on any plans for Africa since there’s so much potential there um as its population multiplies over the next decoration decade excuse me any progress

24:36
um sorry again any progress as aware um you know any I guess let’s broaden this maybe to talk about um you know parts of the world where population growth or where English may not be the primary language you know that’s an area of handshake growth and development that’s interested me but you know Paul you can’t have a first dab at any any particular responses to the question I’m not sure if this was a question to you last year or not but um the Astro so I I believe it was asked to me last year

25:12
um where I was at last year the uh Focus was I would create a platform and then uh that allowed anybody to just bring their tods over and then they could you know do their own thing the night before superlink came out of uh stealth I decided to switch up that approach and just uh focus on not doing the platform just launching my own thing first and then building things on top of that because um I think one of the major issues with handshake adoption right now is just not having a lot out right now like yeah we have a lot of

25:57
devs we have a lot of enthusiasm but we don’t have much in the way of products and I feel like uh seeing more products would encourage more and more people and then uh get more eyes into handshake and whatnot so um yeah that’s kind of where I’m at with that and regarding like um handshake in Africa or any other country uh just like what was mentioned earlier with like these handshake circles there could there could be one in anywhere in Africa and just like keep keep doing more of that community outreach stuff but I haven’t

26:39
had anything like specifically geared towards any particular country but now that it’s brought to my attention again I’m gonna be more intentional with some ideas that’s that’s cool and just plug out here for just one Community member but sergeant in India um who’s debuted his registry um has really focused on um several Indian languages you know non-english Indian languages um and you know giving people the opportunity to represent and express themselves in whatever their their native language is seems like really

27:16
powerful um use case but like you said Paul more work to be done in terms of making that into um you know something tangible um from um Mike and Stephen any anything else I mean broad question I know but from the kind of global growth perspective of handshake we’re very U.S focused and a lot of these conversations but any other perspectives you guys have in that area I mean I think it’s a you know like a lot of the uh traditional domainers like why do we need decentralized domains well you go to like you know Iran or

27:52
something like that and like you know where you where they take down your website or like so yeah I think like you know this is a great great use case I would love to see it there um so yeah uh so that’s I don’t know but um there’s also SCI Hub you know SCI Hub keeps getting taken down I mean this is not about other countries I guess but SCI Hub keeps getting their domain taken away like I think that’s a good use case um things things like that yeah I think outside of light experimentation with

28:28
the handshake protocol like resolving names um it’s very difficult for people in other regions outside of I would say like the U.S to date and you know certain parts of like China given like a lot of those earlier exchanges that supported handshake it’s really hard for people to get their hands on h s just to experiment with it there aren’t really any major sort of like outside of the airdrop of course sort of like faucet initiatives that were like kind of present with the early Bitcoin community

28:55
and stuff like that and so like you know I think a lot of the community because there’s this core other function besides like spending hns for payments that you can use to like you know renew names you know with the cost of that being you know variable going forward into the future you know wanting to bid on more names people are more conservative with like you know giving out handshake so I think kind of one of the biggest limitations especially in like you know other regions of the world that keep because we have the Bob wild ecosystem

29:23
which is great for trying out handshake and stuff but if no one has a way to like really load their wallet easily like you pretty much stag you know stagnate the entire handshake ecosystem and the funnel for new community members is functionally non-existent so I think that’s just an important thing to like think about like getting a handshake in the way in the hands of like more people and one of those ways is an emphasis on the hns asset uh for payments until it does become you know more of a liquid asset that more people

29:53
can get their hands on that makes a lot of sense um My Ink I think maybe you were going to jump in there wanted to give you a chance before I moved on to one uh potentially our final question here yeah but yeah I’m right I go over this table and so days like definitely a hard way to onboard the people either good to download like Bob or go to name base I think name is school but Bob wallet is not cooled any something like how we had my ether wallet so we need something of web app prefer to access handshake names that’s

30:28
that’s what what will bring like more people because they can just go to like web and access everything so that I think that’s stopping more people to join and experimented that makes sense I um I think we have a tough time for this there’s one good question from the audience that Mike just highlighted um what will happen when I can approves another round of new tlds uh in 2025 with matching web 3 addresses such as wallet crypto possibly God even others um who and how will those um Collision it cuts off but I think you

31:05
get the gist of it you know how are those collisions going to get get resolved um glad I’m the moderator not a panelist because this is a this is a tough one um any any of you four want to take the first uh first dab at it I mean I’ll say like you know it’s a hard problem they’re we’re doing different things than I can I can has you know I’m not like I can has value in some ways and handshake has value in other ways and so um it’s different things and you know like one thing is like um you can buy mike.com

31:42
mike.net mike.org you know are those collisions uh so you know I think it’s just something that will probably resolve itself in a in in its own way but um I don’t I don’t think it’s like a huge it’s not like this huge like end to um you know handshake or something I mean there’s already Collision there’s already some collisions and it’s not not really that big of a deal and there probably will not be many many more you know so uh yeah I also think that uh well I believe when I see it

32:26
I can has been talking about like Hey we’re going to open up a new round and it’s just been like when oh a couple months out it’s it’s been a couple months out for years so uh yeah 2025 possibly uh I I feel like we still have a good amount of time left to try and figure things out but yeah I I agree with Michael and this uh it’s it’s gonna resolve itself especially if it’s names like dot crypto or like anything that’s blockchain related uh Block Chain enthusiasts might buy some domains but they’re going to go

33:06
over to like the blockchain native naming systems for those I mean one appeal for to me like from park.io we had registrars and stuff is that I can’t they’re so you know they’re so slow I’m sure everybody you know everybody agrees even I can itself they’re so slow and it’s just huge bureaucracy and like you know dot XXX was delayed for years because they thought like they might introduce porn to the internet and stuff and like it’s like you know it’s it’s just the slow and that’s that’s the Cypher punk way

33:39
it’s like you’re not gonna change I can like by joining the organization and helping like that’s it’s not gonna you’re not gonna that’s not gonna change so let’s code around it like code around this so that yeah so I think uh yeah it’s slow like Paul was saying it’s really slow um and that’s the appeal of handshake really is um is that this is a faster like uh different way to do it you know I if I can as listening if people from icann are listening if you want to compete

34:11
against handshake start releasing the name like release them now make it make it so anybody can register make it so it’s not a million dollars to register a TLD just open it up open it up and make it cheap to register and then you’ll have then you’ll be able to like have a better competition it’s a handshake or some of these others I think we have a little bit of time if Stephen or Mike if you guys have thoughts on on on that topic yeah I I do believe I can is not going to release a whole lot of deales they’re

34:45
too slow even if they release like one TLD in next four three years it will be sorted out it will not be a whole lot of chaos it will be sorted out by itself but hopefully I can learn but I’ve had shine Shake in like two years and not create a college itself because they I think they won’t like for the information to flow but handshake is the better solution and we are integrating them we are not like hey don’t come here we are integrating them so it will be good for everybody and I do believe they will join

35:16
handshake and make like a better internet um my comment on that was you know based on the information that’s come out from ican thus far you know with their interest in handshake and the fact that they’ve looked into it I think they kind of already understand it so I don’t really understand I don’t really worry too much about kind of like bike shedding and I think it’s somewhat over emphasized over emphasized sometimes excuse me um just about the idea of of collisions just because handshake is as open and

35:47
communicable as you can possibly be as for an open like root Zone you know the JJ and you know Joseph and everyone there is like we’re very sharp with you know the construction of the architecture of this chain so it’s like they can’t get any better it literally cannot get any better than it currently is and any other Arguments for additional like layer complexity to like make things quote unquote more fair just actually like make things more like complex and ultimately like it’s diminishes like handshakes value like

36:14
long term is also an asset right it’s a store of value the hns asset just like Bitcoin but also the names are these valuable non-fungible things as well um so it’s important to like continue to like remember like that context so we’ve intermingled you know value and information together so you know I think we should just let the market forces like handle things and to stop worry about them like so much because it just creates unnecessary negativity great great answers thank you all for you guys um I don’t think we’re getting the hook

36:48
right yet so I’m going to try to squeeze in another another real quick question for all four of you guys but you know Magic The Magic wander you know Genie’s lamp question if you’d one wish to snap your fingers and change something about handshake right now um what what would you and if so what what would that be um a second client implementation um just because well I know that you know JJ’s working on that Mako C implementation and you know hopefully you know we’ll make that conversion over

37:16
to handshake he’s a man of his words I believe he’ll do that um but I think um that would just bring in another slew of like a new interesting like developers that are like you know very used to like kind of bare metal construction of things and kind of it seems like JJ worked really hard on that so um I think that’ll just bring in a new different type of different caliber of um developers too which I think is is just important as we experiment like not only just on applications but when we go back to that infrastructure phase I’m

37:43
sure there’ll be a lot of networking related things and other expertise that the community could evolve from yeah how about yourself my Inc but yeah I would have loved to like the names to release like for like three years instead of what year so that both people have could have like being a part of the ecosystem that’s the only thing that’s a good I understand what you’re saying with that um Paul how about yourself I don’t know man that is such a tough question um I guess uh it would be nice if we didn’t uh have

38:30
that have the like handful of conflicts we do currently have with um I I think it’s like dot kids and Dot music that’s it like everything else I I feel happened at the right time and everything else is fine let’s call it and how about you Mike yeah I mean I think a big problem with handshake is and you know I Love handshake I’ve invested a lot of my own money and uh also my company’s money and stuff and handshake and I believe in it that it’s the best solution but I think a big problem with handshake right now

39:10
that urgently needs to be addressed is the price of handshake because of the security not only just the security of the coin uh but also like the security of the blockchain but also just people disregarded they think handshake’s dead when the price goes down you know so much and also it has to be tied the the coin has to be tied to the value of the names uh because it’s just like it it’s not matching up there’s a like there’s a disconnect there and I think some possible solutions I don’t know all the

39:45
solutions with some possible solutions are you know a a having a preemptive happening besides the one that’s happening have another one I think the minor the one problem is miners have so many coins that they’re just selling it into Oblivion they’re selling HMS into Oblivion that’s but like one uh possible problem is the uh you know there’s a there was a pre-mind there’s an airdrop this huge airdrop and stuff like that and there’s coin rewards and stuff like that and I think the mining reward is

40:14
based off of the total Supply the mining reward was based off of the total Supply which which included this huge airdrop so I think the mining reward is way too big in my opinion I think the minor minor reward may be way too big which caused this huge selling but also tying it to the value of the name like cot like maybe I like Aaron oxbro’s proposal I think it’s interesting like saying that you have to uh renew you have to renew the Danes you have to pay one H and S or something per year I think that

40:45
makes sense but I think yeah the one of the biggest problems you know it would bring develop like if the coin was like we all want the coin to go up and it would help the security of the blockchain so and like we can make it happen you know we like we can we can change the code and uh you know we can do stuff to make this happen so I think it’s something that urgently needs to happen because once the price goes up that helps a lot of things and once it’s tied to the to the names like more developers will come in more companies

41:15
will come in uh so yeah I think that’s that’s my one of my major things is that having the coin uh tied to the value of the names and also just needing more developers but I think that you know that would come if if the agent assets had better yeah yeah they kind of go hand in hand um well um I think that we are at a time now um so I just really want to thank my panelists my Mike Paul and Stephen um you you for I learned a lot from including today um so thanks very much and Mike thanks for organizing I’m pretty sure that the

41:53
uh the shake is um the next uh presentation but Michael I’ll kick back to you um or maybe the session just ends here um but uh everyone thanks for the great questions and participation uh enjoy the rest of handycon thanks bye thank you yeah let’s just roll to the next session um thanks everyone [Music] thank you