311: Is There a Hole in Ethereum? -with Donnie Gebert

All right and with that returning to The Brian Nichols Show talking all things Bitcoin today specifically, not Bitcoin. I'm sorry I misspoke. We're talking all things, Ethereum. That being said, Donnie Gabbert Welcome back to The Brian Nichols Show. Hello, sir. How are you? Good, Donny? How have you been my friends been a while since we had in the show. You've been a little busy to say the least a.

I have watched the market a lot. But I've really vicious just been chilling out. I took my kids on vacation. I didn't do much all summer other than watch the developing nonsense, you know, Afghanistan just ended. So other than that, well, and really quick let's

let's because obviously since you were last in the show, we we've had a very nice opportunity here to introduce a lot of new folks to The Brian Nichols Show. So quickly, let's reintroduce who you are to that new audience. And then let's segue from that into our topic of conversation today, which is a big red flag you raise up to me, is there a hole in aetherium? But first, Donnie, a recap. Who are you and what kind of got you on this path where we're talking about aetherium today?

I wrote two books. One is how to automate a legislature The other is basically just a book on critical thinking and how to not get lost in so many handoffs, the way the way people present stuff. You know, Jordan Belfort is very good. The Wolf of Wall Street is Jordan Belfort. He's very good at sliding stuff into a sales pitch. And he teaches people online now how sales works? Well, if you go over there and watch it's kind of a self defense course against the salesman, if you watch the tactics they use. So the second book is kind of tactics that'll get a lawyer and a salesman out of your life. The first book is automating the legislature, which will get all the politicians out of our life. And and the manner in which I do stuff is crypto, all blockchain stuff because you're the owner of your private keys. You there's no, it's all peer to peer systems. And there's no government actors. There's no, no government actors and no middlemen. So because the systems are peer to peer, they're very secure.

So let's dig into now the red flag you raised up and it's not that you want to get rid of all salesmen because I would love to, I think that's an entirely separate conversation to have another red flag you raised up and that it was earlier, that there seems to be something wrong in in a theory and there there's something that raised a red flag on your end, and you want to dig into what that red flag was. So let's start off here. What is this hole in Ethereum? And why should people be concerned? Well, there's

tons and tons of bad information in the crypto space lots. Bitcoin maximalism is kind of a religion that goes around Bitcoin is a working prototype. And then Bloomberg and Forbes and every everybody on Wall Street, who tells you that a derivative product is a good idea advertises to you. All of the stuff in the real crypto ecosphere is built on a theory. So the way I like a level playing field and when I can't play my game, because you know, when I can't do stuff in a market, because the market seems to have some sort of weird dynamic to it. I'll go find out why. So I found what I'm going to call it's not to be worried like there's no, I wouldn't say any there's a problem with theory in any way, shape, or form. It's just understanding how new crypto systems come into being eath is great. has lots of stuff built on top of it huge network effect. People don't understand Metcalfe's law and if they think Bitcoin is 50 grand apiece eath does ether three grand and Bitcoin at 50 grand. Now does this really make sense? I was trading in 2018. And while I didn't sell any of my coin, the entire portfolio basically crash in USD terms. So I started digging around about how did all of this stuff work? Well, there was a coin, another one called sis coin s y s. And this basically had there's an ERC 20 contract on Ethereum called s YSX. And sis coin just goes back and forth between aetherium and sis coin as it wants to now you have to learn about the SIS coin system it's very similar to Bitcoin but it's it's it's Bitcoin 4.0 I'm not selling sis coin. I'm saying if you go look at the market dynamics, and everybody's wondering, why did these prices go wild? Why are they all crazy? You can go find the evidence if you've seen it, Brian, you can probably explain it more from your angle because you're you're the you're the guy who's just coming into the conversation. You can explain how you were looking at it. I showed you where there's either clear bot trading or some kind of security protocol. It's absolutely not manmade, it's not an accident. On on a pair called this is going to theory and pair well when you go to the Cisco and website they just advertise there's a Cisco theory Umbridge none of this is particularly relevant until you realize there isn't a price Oracle there? Well, if there's not a price Oracle there, how are all these prices go wildly awry. But this one, this one pair has an active Fourier series on it. Hmm. So you go ahead and fill in, you know, you bring me back into your part of the conversation here. Yeah,

so the 44 a series. Now, we're not going to watch the video now. But what we'll do is we'll include this video that you sent me in the show notes because a Fourier series I had never heard of before. But here, we'll bring this up here, just so you can see. So you know, we'll just play create this graph by doing nothing but adding together curves and so that the graph for the people who didn't see it will go back here for a hot sec. It's it's a complete downward slope. And then it's like a bouncy ball hits and it goes down, right? Answer a certain angle. Now, correct me if I'm wrong, there's a there's a point with this Fourier series where the replicating lines, they can't be made nature. So you start to see all sudden that this has to be manipulated in some way, shape, or form, can you dig into more about how that manipulation actually takes place?

Well, there is nothing in nature that would create a Fourier series, period. That is a man made tool. So it's obviously happening on this pair. And that's all you really have to understand, to start extrapolating to how do these systems work? And why are we getting so much bad information? It's obvious, we get lots and lots and lots of bad information. So I mean, the Afghanistan war unraveling is all everybody should be able to point it nevermind the elections, nevermind COVID. We're swimming. I've done podcasts on psychological warfare. And this is basically just an entire psychological warfare scenario, while the great reset is happening right underneath our feet, and they're advertising it but what is the evidence? And where does it Where do you look for it? Well, the fraudulent banking system in the fraudulent Fiat system, they, they're going away. Fiat is the rotary dial phone of currency, it's garbage. And we're gonna and we're gonna get rid of it. Well, the thing that's going to replace it is crypto currency. And a lot of people say, Oh, it's gonna be gold and silver. Well, when you get into how the commodities are traded, and how currencies are traded, this goes into a long economic monetary rabbit hole about tokenization and how Bitcoin doesn't have enough tokens. So what's the next thing? It's Ethereum? Ethereum is different than Bitcoin. It's a very complicated topic. So just walking through it from the basics. Bitcoin is a working prototype. It's it couldn't function and all of the ways that it's been advertised it the governance structure will not change, though. All of the people who were doing, you know, the arguments that were had by the people doing the mining, it is the way it is, but it's just a working prototype, it can't really do anything other than it is pristine collateral. Mark Cuban says it's art. It's a good way to learn what is a blockchain system? What is a currency system? And how does it change the way humans do currency? Ethereum does pre adjudication. If you've seen the Tom Cruise, there's Tom Cruise movie about pre crime. Pre adjudication is when your money and all of the details are in the smart contract. And then the smart contract relies on Oracle's outside data sources that validate some some conditions of the contract have been met. Once the oracles tell the contract things are good. Everything is that there's no lawyers, there's no judges, there's no legislature, the contract in of itself is pre adjudication all the way to this only works one or two ways I get paid because the process went through, or the process didn't go through and your money goes back to your wallet. That's a very good way to run these systems without anyone in between. Well, that that changes, the theory, um, changes the way court systems and governments work. That's the huge thing. That's the huge thing. And you'll notice all the stable coins are on aetherium. So aetherium is where all the network effect is, it's where all of the big stuff is. And then this one coin that does a lot. It does lots of transactions per second, has managed to breach it theory and everybody needs to know where it is you need to go buy a bit because this is functionally going to replace what everyone believes Bitcoin is. This is most likely going to be what a couple of years ago in the market there was this this campaign of what's the next Bitcoin sis coin is probably going to do that because it has it has this relationship with aetherium. That's security plus incestuous. So the Take me where you're at from there.

Well, let's, let's make this go back to your average person. I'll remove this screen here, actually, let's get rid of it. There we go. Because I don't think we need to maybe go into the weeds really quick. Let's make this make sense to your average person. So we're talking about Bitcoin. We're talking about crypto, we're talking about aetherium. We're talking about sis coin. There's a lot of stuff that's being tossed out there. So let's make this for your average person, what would be, let's just say, you know, you paint the economy that you can see this, you know, going forward with, what would this be in terms of a direct impact on your average person?

On the average person, you're probably already seen some of this if you my mother's Sam's Club, app in her phone is already kind of designed to do QR codes. crypto is all done on QR codes. So as you see more more QR code places, you can start seeing the opportunity for crypto to open up. But I think the easiest way to maybe understand why this Fourier series is relevant is called arbitrage. arbitrage is a pretty simple concept. If you're buying ounces of gold in Austin for $500, or 15 $100 an ounce and you're selling them in Dallas for 200 or $2,000 an ounce, I will be driving back and forth back and forth. Until the until I'm not going to get paid like that to do it anymore. When the bots do this, when Wall Street high trade high speed trading bots commit arbitrage, it looks like throwing money into a wood chipper because it goes really fast. It's not me driving between Austin and Dallas to exploit a gap in the market. It will happen so fast that you know those Wall Street shorts get liquidated real fast. So because because there is bot trading, we know that certain certain systems would be very vulnerable through just the arbitrage mechanic. Well, if you're there's only one aetherium and it's a big deal. So if aetherium has any kind of weird arbitrage, everybody would want to get out of a theory. Well, this isn't. This isn't the bad kind of weird arbitrage. It's the good kind. So it's not panic out of Ethereum. It's what is this coin? What is the theory I'm doing? And how are we going to be doing payment processing three to five years from now? Maybe sooner? Because afghanistan war just ended. And that's known to end an empire.

So what's what do you think this is gonna do for your average person right now? I guess going forward immediately. Do you see this being a chance? How about this? No, you're not a financial adviser. But like, what would you recommend somebody to do? Shall we just go out and buy this coin? Well,

I don't I try not to intentionally shill anything I say? Because I'm understanding like, a lot of people think when you're buying crypto, you're investing? No, if you are buying a product, a stock or something like that, you're investing if you buy euros with your dollars, you're not really investing unless somehow you think you're gonna play some currency game, and you're gonna make more money, but okay, but otherwise, you're really not investing when you buy another crypto currency. Well, kryptos are really another currency. And, and there are several examples where I, the three I say are those sis coin and digibyte. And those three are all underneath the dollar. So when I say you go take some USD and you save money in these currencies. Someone could might want to call it speculative saving, okay, that's fine. Well, there's enough information now that this isn't really speculation, the USD is inflating. And these other currencies do very well against an inflating currency. So those three systems digibyte, Cisco windows are all underneath the dollar. So if you are going to go put USD into them, you are going to get more than one for every dollar you put in, you're gonna get more than one, you'll get three or five. So this is I'm going to save this imagine, just like the Euro, right? If you're going to go to Europe, next year, and you see an opportunity to buy euros to go to Europe on your trip. You buy them when they're cheap, it is somewhat of a speculative gamble that somehow you wouldn't be able to get it cheaper between now and your vacation, but you see an opportunity to say okay, I'm the Euro fell against the dollar, I'm gonna I'm gonna cash in, and I'm going to try and get some, some more stuff when I go to Europe. That's all you're really doing with kryptos. You're saying, I recognize that these are not bullshit systems. You have to do your homework to do that. But once you're past these are this is not child nonsense that they put on, on Bloomberg and Forbes and all those people that they talk shit about it intentionally because they want you, they want you in USD and they want you in the banking system forever. And these systems are going to replace those. So saving Under $1, investing is over $1, if you're gonna pay more than $1, for something, you better be able to justify it as an investment. And that, again, is a research tool that you have to do for every single stock if, if Mark codice is shorting his short selling, he is shorting one company. While when I'm telling you this, I'm kind of shorting the whole crypto market, I'm not shorting it, I'm not saying it's a problem, I'm saying, every one of us stands better off to save in some of these kryptos, 2500 bucks, whatever you want to save in the same way, because you're, you're definitely getting more than one to one. So if you think it's a bad idea, you spent 20 bucks and you go, Okay, I'm going to get 100 of these for 20 bucks, and we'll see what happens in a year, then you're saving, you're putting it away, that's not really investment advice, you're going to buy something, and some of these kryptos are over $1 for the rooms over three grand rounds, like 3700. So that is investment advice. And I don't necessarily tell anybody to go buy aetherium unless they're putting 25 grand in the market at a time. So I had a client and I put 205,000 for her in the market. It's at 1.9 right now, I don't really measure in dollars anymore, because I'm kind of what I do measure in dollars is okay, yes, we're definitely seeing the inflation in kryptos against the dollars wild, wild eyed, it's like 10x inflation, if you're going to look at it in that way. So saving is less than $1 investing is more than $1 I say we are saving in kryptos a little bit in those and understanding why you're getting involved with them. Cisco seems to be the replacement for Bitcoin and Bitcoin is just pure phi the Bitcoin is a great system to learn from, but it is a working prototype and and the reason it is so heavily advertised is because those people want you looking at the thing that's irrelevant.

I think it's good, because I'm good being Bitcoin, because it does help start the conversation. I think sometimes the hardest part Don is is actually getting somebody to say, Yeah, I get this, I see why this is important going forward beyond just the as we've discussed, right? It's not an investment, it's it's actually going to be its own system going forward, it's gonna make these old, decrepit financial institutions irrelevant as a good thing. So let's do this. I want to set a roadmap for people going forward, let's say for your average person who they're like, okay, I this is interesting, I'm curious diet, you know, but believe it or not, as a sales guy, you piqued my interest right? Now, they want to go ahead and they we have an action item. So what would you say would be some definitive action item steps that people can take, if they want to start learning more and starting to, I guess, not invest, but rather save some of their money in alternative forms of cryptocurrency?

All right, well, Danny's hypothetical timeline goes somewhere between September 11. In October 1, the federal government start seeing a funding issue. And, you know, let's, let's face it, the smartest financial people on the planet are way ahead of where most of us are. Maybe not me, I'm not being a dick. But maybe, but there's a lot of people who are, you know, especially when it comes to dollars, you know, people at BlackRock were buying land because they knew how and now it's a big scandal. So because the US government is going to start having $1 wobble and they're going to have a financial wobble, the more people are going to start finding out how cryptocurrencies work. No, we are not going to switch over to a central bank digital currency. Will there be one? Yes. Will everyone use it? No. So a lot of the hype, you know, these channels are selling people Bitcoin and central bank digital currencies, you don't want to either for lots of reasons. What you would do want to do is understand how blockchains are changing government systems, banking systems, monetary system and economic systems. That's where it gets very complicated. Learning Bitcoin is pretty simple learning. aetherium is actually pretty simple. Learning says coin is a real education, but it's not that hard. The problem is how all of these blockchain systems change the human systems, the economic, the monetary, the league, the statutory systems, because of pre adjudication, judges will not be able to overturn smart contracts, no one will be consulted. This will go on behind state door, you know, without state rules, no one will be consulted. So that's the real hard education and that's where you you know, Bob Murphy is really good economist. And then he writes a book on how to do decentralized defense. So you take this economic if you don't know economics, trying to read one of Bob's books is a nightmare because it's two concepts at once. Since you gotta follow Bob's economic understanding, in a defense sense, well, when you're learning blockchain, you know, once you understand aetherium, and then you understand the court system, you might understand that your court system could die very quickly to aetherium. Because it's garbage. And the my first book is basically peer to peer law. David Friedman wrote a book on peer to peer law. And so did I on how to put it on a blockchain. It's basically his idea, but how do you organize it on a blockchain? It would work very well. And then so you start seeing monetary and legal systems dying to this disruptive technology. That's what it is. And we're going to live through that change. And anybody who didn't think so welcome to the end of the Afghanistan war.

So we go talking about our target market, right? We This is one of the things we're focusing on in the sales and marketing world. And we see, there's like 150 percent of Americans out there who are very apathetic and voting, they don't get involved in the political process. And I, I hear the reoccurring theme being because they either a don't think that their vote matters, or B, doesn't really impact them, they're gonna do their own thing anyways. And the more I think about it, the more I'm realizing that that kind of 50% of people who understand that, yeah, the system's broken, and they're like, yeah, my votes wasted because the system's broken. And you couple in, well, things are just gonna happen and change as it is dhania, we kind of already have 50% of the populace who are in the mentality of open for something different, because they see that the existing solutions that we have in place, they suck. So I'm fascinated to see where we're gonna go with this. Because as more and more people start to turn that apathy, and start to focus on the solutions that you're bringing to the table today. And looking at this coin, for example, as this whole aetherium. I'm curious to see what this can do, as we start to look from a philosophical standpoint, right, because more and more people will start to see the value of having this decentralized approach without having the oversight from someone monopoly on violence from the top down. So I think it's exciting because it's, it's giving us a real roadmap that we can now follow, and show people without having to force feed them, you know, books every single time, we can instead just say, look at the value that this is doing, look at look at the things you can do now, the things you don't have to worry about the things that are now just becoming irrelevant by the sheer nature of the solution existing.

What's what let us go back to science, Metcalfe's law is how network effects work with people. Okay. So like you said, 50% of people are voting less than or less than 50% of people are voting. That means that 50% of the people have a different network. It is non voters, and they are now the biggest, technically voting. I understand they're not a voting bracket. The problem is the system conveniently and authoritatively decides who it's going to and who not account who is and who is an essential. So because the system does that everybody doesn't get to choose their network. Yeah, that your state legal networks are done by geography. A long time ago, that was pretty much required. These days, it's not and that's gonna change. When is it going to change? I don't know. But as I do know that the fiat money machine is pretty much the only reason the illusion is still alive. The only reason anybody can even put Joe Biden on TV right now is because there's a fiat money machine on somewhere, otherwise, nobody would even watch. So when we're going to understand, we should choose our own network. That's where we're going to take you know, some people have already moved out of the dollar, because they don't like how it works. I don't blame them. The fiat money machine is the thing that the dollar has two problems. The first is it's not a scientific unit of measurement. And that's the really big one. The second one is it's the war coin. And if we if we're going to be at war, I can see having a war coin. But I don't see the reasons that we should be at war. And I kind of know why better than every politician on this goddamn planet. So when we have to learn how to replace this, it's Metcalfe's law is the network effect and you need to risk This is where everybody just takes back their own money. And you spend your money in the places you want to. You don't get to make the one Baker Baker gay cake. Whatever a gay cake is. But you spend your money elsewhere and then you tell your friends, don't buy your cakes there. That's about all we don't need a legislature to come down on all As these people who don't do what other people want, and that's really how the system is going to really change. Slowly,

we're on our way there. Well, we're on our way. Right? We're I think this is part of the the challenge we've seen. Politics only gets you political solutions. And it comes to people. I mean, let's look at, you know, the take human action, it really requires people to take that action to start to just say, you know, what, we're going to build the solutions, and make those political solutions that are only enforced by that monopoly on violence, just gonna make them relevant. And as we do that, a Donnie, you're we're gonna have more and more people asking us questions beyond monetary systems beyond cryptocurrencies. So when they want to ask those questions we want make sure we point them the right direction. So with that being said, Where can folks go ahead and follow you to keep up the conversation going?

The null hypothesis, politics, calm, The Art of War, 2020, calm at director public on Twitter. I'm on Spotify, to the director of public podcasts on Spotify.

And that's more for our audio listener. But hey, for everybody, go ahead into your show notes. Click the The Brian Nichols Show artwork, it'll bring you right to our website, which you'll go ahead and find our episode posted there with Danny's bio as well as all the links there in the notes as well. But with that being said, Yes, folks, we'll include that in the show notes. But go ahead, check out all that Danny's doing and with that being said Donnie Gilbert, thank you so much for joining us on today's very educational episode of The Brian Nichols Show. Thank you for having me, Brian.

Transcribed by https://otter.ai