Well, welcome back everyone to the video for of Sailor Academy's live series Bitcoin for everybody just a reminder. This is a companion series to to sailor.org Bitcoin course which you can find at learn.sailor.org slash prdv 151. I'll make sure that all of that is in the descriptions and in the comments. And I'll also make sure that I put in the chat along with the discourse discussion forums, so that you guys can keep this conversation going amongst yourselves. So we have a good show lined up for you. Obviously, Stefan Leveri's with us as always hosting and we have Jimmy Song who is a Bitcoin developer educator and entrepreneur, and the CEO of MicroStrategy and the trustee of the Sailor Academy, technically my boss, Michael Sailor so with that, Stephen if you want to take it away. Thank you very much Michael so yeah so welcome back listeners and viewers today we're going to talk a little bit about some of the basics of Bitcoin technology and Jimmy and Michael are going to help us by teaching us a little bit about that and maybe providing a little bit of commentary in and around these ideas as well. So maybe if we just start. So for, so for those of you if you go through the material, we've got a few videos and a few podcasts and a few articles that explain a little bit around how Bitcoin works under the hood. And so I guess today we might just talk through some of that, and I'll try to ask some of the questions that maybe a new person might have. And I'll also keep an eye on the chat as well so if you have questions in the chat you can make sure to ask them there. But perhaps we could start with you Jimmy. Can you give us just like some overview. How does you know Bitcoin work if I you know let's say I send a transaction to you. What does that look like on the Bitcoin network. Yeah, transaction is basically a bunch of bytes and and it has some information about it. The money that you are spending. This is what we would call the transaction inputs. And then where you are sending the money the, the, you know, places that you are sending it to so these are the transaction outputs. You can think of each of these outputs as sort of like a mailbox for a particular person. And you're sent when you send money to them you anyone can send money into that mailbox but only the person with the private key can unlock them and do something with them and that's that's how Bitcoin works. You know, it's based on some public key cryptography essentially anyone can send to your public key or a hash of the public key as it were. But only the person with the private key can actually, you know, spend it so that that would be the analogy that I would use.  But in Bitcoin land, it's very different that there's no think of it like there's no pool system it's a push system in Bitcoin land. And so in Bitcoin land, you have, you can think of it like as Jimmy was saying it's like, it's like there's this ledger up in the sky. Or in the cloud if you will, and it shows transactions from A to B, but we don't know that we don't necessarily know who is behind those transactions. And so it's what you're doing is you are essentially your Bitcoin wallet or your Bitcoin software is in some sense it's signing a message to say I want to send, you know, 0.1 Bitcoin from this address to this place on the ledger. And one way to think of that is the network is in some sense saying yes this is a valid transaction or no that's not a valid transaction we do not recognize that. And so that's a little bit of the interplay there. And so, perhaps if we could just talk a little bit about how that network works and that ledger. So perhaps Jimmy if you could just give like an overview what what is that. Yeah, so the ledger and Bitcoin is called the blockchain but it's, it's, and you can think of each block as a page in the ledger and it's a new page is added essentially every 10 minutes. And it has a list of transactions, or a group of transactions that get that get added and these are new transactions in the ledger and anyone that has that is running a full node implementation or the Bitcoin software. So it validates that that page is consistent with the other pages of the ledger, and that it's consistent with itself that it. So it isn't, for example, spending the same output twice something like that. And every, everyone that's running this software needs to get the data from some some other nodes on the network and this is done through network programming, typical. Transfer involves stuff like transactions and blocks and things like that. And it usually like blocks propagate in a few seconds so do transactions but the entire network knows about it very very quickly. But as you receive it you're not just saying oh this this must be good you verify yourself the software verifies everything. To make sure that it follows all of the rules including you know is it trying to double spend is a creating money out of the hair is it are all the signatures valid is you know, is it doing anything that it shouldn't be doing. If it doesn't meet all of the rules then the software will simply reject that block and refuse to add it to the ledger so each page has is validated by the software on a continuous basis as new blocks come in. As our transactions in case you know you want to know hey I just received the payment but it isn't in the ledger yet. Once a block is found then it goes into the ledger and that's how that works. Excellent. Michael let's bring you in here as well so maybe if you could give any thoughts that you know what are some things that a person who is new to Bitcoin what are some things that they might be getting wrong in their sort of mental model of how Bitcoin is working because they're comparing it to the fiat world do you have any kind of analogies or any useful kind of things to them to think about. I think I think most people are still always used to an instantaneous response from a single server with a degree of fragility. Like I try to do something and I immediately get either a green check or half the time I get rejected by the bank you're not supposed to do that thing and and there's that that sense of of central authority and confirmation and I think with the Bitcoin network because it's so decentralized and fault tolerant, you do something you don't get the immediate response the good news is no one's going to give you a red mark and say you can't do it. The bad news is, you have to be patient and wait 32 minutes for you know three confirmations to go through. And, and there is a degree of, you know the price we pay for this like post apocalyptic mission critical fault tolerance is that maybe six confirmations is better than three confirmations and the wallet that you use or the software that you use may give you different feedback and may have different degrees of confirmation they require. So I think that a person is not comfortable with Bitcoin, they're just used to a pass fail break not break instant thing. When you get used to Bitcoin you realize that there's an entire, what is it like quantum spectrum of like how confirmed something is, and, and it's a good thing, but you have to get used to a new paradigm. Yeah, that's a great point to make there Michael. And I think maybe Jimmy if we could get you to help explain so Michael was talking about this concept of confirmations and how having more confirmations means you are more secure so Jimmy if you could just touch on what is a confirmation and why is it that having more makes it more secure. So, the word blockchain comes from the fact that we have a link list of blocks it's each built block is built on top of another that's one way to think of it. And in order to, and at any point, there may come across, you know, a group of blocks that are equally valid. And that might that might be longer than the current set of blocks that you have in your ledger and in that case you're supposed to take the longer one. That's how the software is designed. Now, the idea of a confirmation gets into mining and I think we will wait a little bit on explaining exactly what mining is, but suffice it to say that each block requires a significant amount of energy in order to get. So your, your transactions in that block are secured by the energy spent for what's called the proof of work the the mining aspect of Bitcoin. And, and if you have three you have three times as much security around the transaction that you did. The blocks are built on top of one another you can imagine that if you pulled the third block down that you're essentially toppling the other two on top of it so that's how it's secured it's it's three times as much security for three confirmation, as it is one confirmation. But yeah, that that that level of security around your transaction is an important concept that Michael pointed out. And also I think it might be useful as well just to contrast bitcoins security versus other things so typical examples would be Bitcoin against other fiat monies and Bitcoin against gold. And so what are the kinds of security levels that we're thinking of when we're thinking about Bitcoin perhaps Michael if you could comment around some of the, I guess the ways that we when we use these different techniques or different options. How do we think about the, the security and the settlement, you know, like what someone like Nick Carter Michael the settlement assurances of these three contrasting options. Gold Fiat Bitcoin. Well I guess I guess with with Fiat you have the appearance of instant settlement but the substance of not having instant settlement so so you have a paradox there where where you think something happened but in point of fact, perhaps the final settlement hasn't happened for two days three days four days seven days and can and with some things like, like with bank wire transfers. It could be as much as 30 days. I've, I've seen. So, with the matter of of transaction verification and securities is a tricky one is hard to know that you've actually moved the money. And I guess, I guess the other part of security with regard to fiat is, is if you have money in a bank how secure is the money in the bank and, and you've built up this layer of assumptions like I lost money in two banks in the world. I lost money in an Argentine bank and I lost money. Let me let me rephrase it. I only lost money overnight in two banks in the world. I lost money slowly right and and every bank that ever put money into you know if you put money in a bag you're losing 1% a month or 1% every quarter, everywhere in the world, but I did once wake up and lose all my money in two banks, and the first example of lack of security was an Argentine bank where I had a million dollars in the bank, and it was in dollars, and in the morning the government passed the law converting it to pesos at $1 to a peso. And in the afternoon the government devalued the peso to 10 dollar 10 pesos to the dollar. And the next day I had one tenth of what I'd had the previous day. And so that illustrates the risk of a political risk in a bank right, and I guess the, the other example is in Brazil I once lost a million or $2 million in Brazil. And that was an example where the CEO of the bank, stole the money or made a bunch of insolvent loans bankrupted the bank through accounting fraud, and the bank got decapitalized. And I ended up standing behind all the other creditors we never got the money back. So I guess, I guess with fiat right, you've got political risk you've got execution risk and company are banking risk. With regard to gold I mean that the security issue is, assuming you're owning the physical gold, you're putting it in a vault. I mean, maybe a vault in New York City or a vault in London, and I guess then you have the, the, you have the banking risk the bank might actually lose the gold, and then you have the political risk. And you have another type of, you know, multiple political risk right the risk the gold gets seized or the risk that the gold gets taxed in the local jurisdiction. I think that I'm, I think with regard to Bitcoin. And one nice thing about Bitcoin is, you manage to take out so many layers of risk and as you take out the political layer. You take out the corporate layer of risk. Because you take out so much complexity, then you've got fewer things to fail. And I guess the, the other, the other thing you do is you take out the political attack surface. I think Bitcoin is like more secure, because you can move a million dollars of it from New York to Malta in an hour, and you can move it from one custodian to another or you can personally custody it or you can multi sing it, you know, like three people custom. So you don't really, you don't have the option to simultaneously hold a million dollars of gold with your cousin in Malta and yourself. You know, so you don't have those options with physical things you don't really have those options with Fiat, but with Bitcoin you have a lot of these security options and, and I think that means you get functionality but also I think that the lack of the political attack service means that I can pass along New York City taxing gold, because I know it's there. I know it's hard to move the gold, but there's no point in passing along New York City taxing Bitcoin. You know, and my point of course is the taxes 100% that's the risk right you lost it all, but I wouldn't wouldn't really bother with regulation that might actually devalue the asset. If I thought that it was impossible for the regulation to be successful. And so I think with Bitcoin. You don't you protect yourself from the corporate risk because you don't have to trust a company. If you do trust the company, you've got 1000 other companies and they're all they're all competing with each other to earn your trust and as soon as they if you were to lose that trust, all the Bitcoin would leave within 48 hours so so you've just got a much better degree of security from any corporation you would ever trust you don't have to. And then you've just got a lot less political risk because it's the most mobile property on the earth. Yeah, that's a really excellent explanation and one way to think of it is that Bitcoin provides us assurances that the fiat banking world simply cannot provide us and Bitcoin gives us these possibilities that unfortunately are not possible with physical gold. So these are some of the ways to think about Bitcoin as something different from what we currently use today or what most people are currently using today. So yeah so listeners don't forget you can ask questions in the chat obviously try to keep them focused on the technicals aspect of Bitcoin. That's the theme for today. And we might also now touch on some Bitcoin mining so perhaps Jimmy if you could give us just a high level overview. Bitcoin mining and just the high level overview on how that works. Yeah, so Bitcoin mining is a lot like physical gold mining. I'm told that for a gold miner what they have to do is, you know, process somewhere around 40 tons of dirt and rock in order to find one ounce of gold. And Bitcoin it's similar, except it's done in the digital realm instead of the physical realm so instead of processing dirt and rock you have to process lots and lots of different numbers and each number, you know, it has the possibility of being that ounce of gold. But it's actually very very rare and it's attached, essentially to each of these pages in the ledger so as you create the page one of the things that you do is you look for this particular input that will get you the right output which we call proof of work. And it is just as rare at well it's far more rare than gold is in the physical earth and it takes a lot of computing power to go through it. And that process of doing it is called mining in Bitcoin and it requires a lot of electricity instead of, you know, chemicals and, you know, people that that process this stuff in the physical gold world. So like finding gold. It is very difficult but once you found gold it is relatively easy to verify that it is gold so it has this asymmetry you can use you could put the gold into onto a touchstone to check that it is gold you can do different chemical tests and so on. It's fairly easy to verify. Whereas with with and it's similar for proof of work it once you found it it takes noodles of energy to go find it but any cell phone or computer can very easily verify because you put the input into the what we call the hash function. You get the you get the expected output and you can verify very easily so it's an asymmetric function and each page in the ledger needs a proof of work in order to be inserted into the ledger this is one of the rules by which Bitcoin runs. If you try to give a new page in the ledger that doesn't have proof of work in it that doesn't have this gold nugget essentially attached to it, then it is rejected by the rest of the network and that is proof essentially that a certain amount of energy has been spent in order to find this particular to that gives the minor the right to insert this page into the ledger and that enables them to get 6.25 bitcoins currently in block subsidy as well as the fees that were in the transactions themselves. Excellent and so it's you know bitcoins are being mined over time on average 10 minutes is that's when a new block is found obviously can be more can be less and that then also moves alongside with the difficulty adjustment and so on but I guess just to keep it high level. We can think of it like mining is kind of like this decentralized lottery and so when you put in when you are contributing hash power as Jimmy was pointing out chart 256 hashing. And now you need specialized equipment to do this nowadays that's called application specific integrated circuit so that's called ASIC. So basically Bitcoin miners go and set up an operation where they run many of these ASICs and then they contribute hash power to the network and then depending on how much hash power they're contributing that's how much. That's their probability of winning the next block. So I guess those are some of the ways to think about that. Now I guess some of the common questions that people might have around the energy mix right so there might be you know how much of renewable versus or how much of wind and solar and gas and hydro or coal power. So I think that's that's an open question we don't you know there's obviously research around that so currently there's a actually a fair amount of renewable energy that is going into Bitcoin mining but we don't know exactly you know where that would go. But if either of you would like to offer any comments around the energy going into Bitcoin mining and whether you've got any thoughts on where you think that's going. Yeah, I mean I have a few. Just with regard to energy consumption. What we know that the, that the average price of commercial energy is is like 11 cents a kilowatt hour and for consumer residential energy about 13 cents a kilowatt hour. And the Bitcoin network runs on profitably around two cents. It has been running two cents a kilowatt hour. There's this massive search worldwide for the cheapest possible energy so the competition of Bitcoin mining I think is driving all of the miners to the edge of the power grid. The ideal energy source is going to be energy that has no commercial usage, and has no residential usage, because otherwise they would bid up the price of the energy, and then energy that is going to come from one of two places either it's like super cheap renewable because you've got a waterfall or geothermal source and there's no other use for it, or it's, it's stranded capital that's been abandoned, you know, a plant that would otherwise be shuttered and the capital would be destroyed. And this is the marginal best use for the economy. So, the nature of Bitcoin at mining economics is to drive a very entrepreneurial quest to recycle marginal energy at the periphery of the world grid. This is the way that it will naturally move Bitcoin mining away from population centers, where the end from it'll move it away from dirty power near population centers because that's going to be not only the most expensive energy. But also the most politically unpalpable like you can imagine if you set up a coal power plant in the middle of Manhattan. That's probably going to be the one that's going to be least popular politically and going to be the most expensive. And it's going to naturally gravitate toward the least politically. And there's a lot of energy sources that are most renewable that are that are least bit on by anybody else that are that have the lowest variable cost and there's there's a certain economic beauty to that. Yeah, that's a really great explanation on the energy markets dynamics might also be a good point just to talk a little bit about Bitcoin miner compensation. Jimmy, if you could tell us a little bit how Bitcoin miners compensated for their work. Yeah, so each block, when they find the proof of work each minor gets what's called a block subsidy and this is based on the schedule that was in the original software code actually. But currently it is 6.25 bitcoins per block. In the first era, the first four years roughly 210,000 blocks. It was 50 bitcoins per block. And that was every 10 minutes for the first 210,000 blocks it was 50. The next 210,000 blocks it was 25. Next 210,000 blocks it was 12 and a half so 50 plus 25 plus 12 and a half currently it's at 6.25. If you can do the, you know, converging series that ends up being 100, 100 times 210,000 is 2.21 million. That's where we get the 21 million limit for Bitcoin comes from. But yeah, that's right. It's on your shirt. Yeah, so that that's how we get 21 million bitcoins because it asymptotically goes to 21 million as a result of it having every 210,000 blocks. But in addition to that minors also get all of the fees that are in each transaction so when you send the transaction in order to incentivize the minor to include it in the ledger. Each person that creates a transaction includes a fee. And this could be lower or higher depending on the current state of the network and how many other transactions are trying to get into the ledger at the same time. So this is the fee that the minor gets to take current. So just to give you a rough idea. Currently, there's a 6.25 block subsidy, and about a 0.75 fee. The general revenue that each block gets so minors are currently getting somewhere around 12% of their revenue from fees. Now as we have more and more, this will change a little bit. So after the next having will have each minor will be making 3.125. And if it goes up to say one Bitcoin per block in terms of fees, then they'll be getting some somewhere around 23% of their revenue through fees and the having after that it'll be closer to 40% and so on. So depending on where where fees go that that'll be the case. One way to think about that that I really like is from Lynn Alden who described the security of the network as being secured by these two things, the block subsidy and the fees. So if you think about it the block subsidy ultimately comes from the holders because it is expanding the supply of Bitcoin, just like we, you know, inflation in a fiat economy is a stealth way of taxing everyone this, at least with this it's explicit. The holders are paying for about 88% of the security right now, and 12% is of the security is being paid by the people that are actually doing the transacting. This shifts more and more as we have more having. So one of the more common questions that people ask is, well what happens when there's no block subsidy well I and I would basically tell them. Well, at that point then the people that really should be paying once paying instead of being subsidized by all of the holders of Bitcoin. So they're getting instead subsidized. They're not subsidized at all but they actually have to pay the miners for the security that they are receiving for their transactions. Excellent and we got a question from the chat, they were asking, has the halving already happened so there was the most recent halving was last year, I think it was April or May, May 2020. There have been three halvings so far in Bitcoin's history and they'll be every four years there'll be another one so that's just a high level there. And might also be a good point to also talk a little bit about some of the attacks that people bring up in the, in the mining world. So, you know, I think the most common one people talk about is the 51% attack. So perhaps, Jimmy, if you could just give an overview what is a 51% attack, and then how does what are some of the defenses that the Bitcoin network innocent in essence has against the some of these potential attacks. Yeah, so the 51% attack is where one entity controls over 50% of the mining hashrate on the network. So that means that, among other things they can reject the other blocks found by the rest of the network and always have sort of a longer chain than everybody else again a chain in the chain of blocks is always built on top of each other so whichever is longer is supposed to be taken by by the software. It's based on the accumulated proof of work or the accumulated difficult problem that consumes energy that is in each block. So, if we were to have a 51% attack there, there are several varieties but the main one that people talk about is the double spending attack you, you could for example deposit a large amount of Bitcoin to an exchange say trade all of that for fiat money, and then after that, which all has happened, reorganize or introduce a new set of blocks that are longer than the current set of, you know, pages in the ledger essentially it's a it's a it's a longer ledger that that has instead of paying the exchange to yourself in which case you would be able to keep the Bitcoin and get the cash that you traded it for. So that that's one attack that could possibly happen. The other ones are something like the empty block attack where they would just deny sending any transactions and it would essentially be a way for whoever is controlling that 51% to deny any transactions from coming into the network. There are mitigations for this I've written entire articles on how that would work. But essentially, if there was sort of a centralized entity that control more than 51, 50% of the network, the rest of the network would be highly motivated to create a decentralized consensus around something else, because if it was centrally controlled that's obviously bad, especially if they're attacking the network. And it doesn't have to be if they're not attacking the network then they would just be another member of the miners basically. But if they were attacking the network then there would be motivation for the rest of the network to come to some sort of consensus, decentralized consensus and go from there and you know that that's basically what I wrote in the article if you are interested it's on Jimmy song that medium calm debunking the empty block attack. Now Michael any comments to add just around the Bitcoin network and how it in some sense either incentivizes people to help the network or it or it sort of adapts in response to different. Sure. I think that mining dynamics are pretty fascinating here. And the and the entire way that the protocol evolves is just genius. For me, following this last having about 900 Bitcoin get mined every day and that makes it a at the current market price about $45 million a day and revenue or about $18 billion a year. So $1 trillion of mining revenue against about a $1 trillion monetary asset sitting on the network so call it almost 2% solely less than 180 basis points or so, but of that as Jimmy points out maybe only 2 billion of it is the transaction and that's like less than 20 basis points. So you have this large subsidy this mining subsidy early on in the first 25 years of the network, we're bootstrapping the build out of the entire Bitcoin security network with these block entities and by the year 2035 or so 99% of the Bitcoin is out there so the last 1% comes over the next 100 years. And so you could see this as a sprint and the first 24 years. Right now, it's obscenely lucrative to set up a minor. So I think a couple of things. First of all, the network itself the mining process, unlike gold mining gold mining is is a bunch of effort to find gold. Bitcoin mining is a bunch of effort to find Bitcoin, plus to provide security plus the process transactions. So the Bitcoin networks doing three things right now the gold mining network does one thing. Now, the beauty is, if we could get everybody in the gold industry to agree to stop mining gold and cryptic cryptographically stamp their bars of gold. Then we could cut you know $100 billion a year worth of gold mining to zero and keep the existing gold bars and their price would go up through the roof right I mean you could imagine, because you're not wasting energy looking for additional gold to to inflate the supply of gold with Bitcoin mining. What you've got is a protocol that automatically does that for you, the new blocks go away. The transaction fees become all that there is to run the network but and that means that the holders don't get diluted. In theory, you know, the transaction fees then have to grow but that but but the assets under management of the network will go up by a factor of 10 to 100. So when the Bitcoin network is 10 trillion 20 basis points will be the same $20 billion, but the difference will be right now we're giving a massive subsidy to any entrepreneur in the world to develop really good and so you see that generate what we've created is a massive global competition in technology to provide Bitcoin security, and it has specialized into a six and it will, it will increasingly specialize down one dimension. And that's really great for the security network because that means that whoever wants to attack the network in the year 2035 is going to have to marshal not just a lot of money and not just a lot of electricity but they're going to have to marshal a lot of the right hash power and that hash power will be like eight generations of computing technology ahead of where we are right now and it'll be very decentralized. The second part of this is, is because Bitcoin mining, it's truly global permissionless no one has to ask permission to do it. What that means is that you, you have a, a monetary force to spread decentralization of the Bitcoin protocol to the ends of the earth without you know and how is it decentralizing. It's decentralizing to the jurisdiction with the cheapest energy, and with the most supported political regime. So contrast this to if I had a trillion dollars of gold sitting in a vault in New York City. Okay, where's the security coming from for a trillion dollars of gold at a vault in New York City. It's not coming from Iceland is not coming from China is not coming from the North Pole. It's coming from the security guards at the bank in New York City. And by the way, it's coming from the bank that isn't the principal and so the bank, you know, and by it might be against the law to provide good security and Manhattan to the gold right so it's a very fragile situation where where you don't have any incentive to make the security of the gold network better, and you don't and you don't have any incentive to make the transaction processing better, and you have no incentive to spread the gold to the ends of the earth and put it in a North Pole 100 feet down right, because that's not the way it works. But I think with Bitcoin mining, what's really fascinating is we're now in a sprint from the year 2021 to 2035, where you have the most entrepreneurial corporations in the world and anybody and any jurisdiction can go after that $18 billion a year. And it's a mad rush to get the data center to get the hardware but to find the energy and, and if you actually pick a jurisdiction.  Well, mining leaves Bonzo land. Right. And so the mining is going to find the the most supportive political environment. And if I go to yo yo land and it costs 10 cents kilowatt hour you're getting squeezed out in yo yo land. And if I can't get the hardware that doesn't work but if I can't get the hardware but I have a lot of money I'm going to go build my own chip. So what I see, which I just think it's just absolutely brilliant is the mining industry for Bitcoin is on about a 24 year aggressive bootstrap to decentralize itself to find free energy to find friendly jurisdictions. There's a massive amount of money to be paid right if if you're in yo yo land and you actually make Bitcoin line mining 10% taxed. You lose all the revenue and it goes to, you know, happy land. And so the Bitcoin mining problem is going to, and the Bitcoin mining industry is going to decentralize a set of very specialized technology nodes. And this with a very favorable political jurisdiction with favorable energy economics, and it's going to go to the four corners of the earth. And like, keep in mind like people in Manhattan novel the money right. So all the money's in Manhattan. There's no incentive for someone in Ireland, or the North Pole, or the middle of Sub-Saharan Africa to provide transaction processing and security for people who are rich in Manhattan with the gold standard, or even with the fiat standard. You know, no one anywhere else in the world is going to do something to help someone in Manhattan under the fiat or the gold standard under the Bitcoin standard. It is truly the most free open competitive market for security and for transaction processing. And the part that's expensive, which is finding the Bitcoin. Well, it's only expensive in the first generation of Bitcoin when it needs to be because because the holders have a vested interest in double subsidizing the miners to make that work. And then when you get out in the year 2035 2040, all of a sudden you've got $100 trillion of monetary energy on the Bitcoin network that's probably going to be 20 basis points, even 10 basis points, because the transaction fees will probably go with like the log, as opposed to linearly, you know you're not going to have to pay 100 times as much to process a transaction that's 100 times as much money you'll pay like 10% more or 20% more. So what we're building toward is a network that could very well secure $100 trillion and do it with a 10 basis point a year fee, and it will be secure because it got hot it got radically decentralized in the first 30 years. And it got radically specialized you're going to have 889th generation Shaw 256 or Shaw whatever. And I know there's other ways we'll get more specialized to but and the miners get there, not, there's no cliff where all of a sudden the block subsidy goes away. And, and so they're going to get weaned off of that gradually. And even in the four years after the next having when they're slightly unprofitable they'll have all the sunk cost and all the other hardware so you've got this natural dynamic to turn the miners into holders and the toddlers to, and then to create this like three legged stool of the people with the with the Bitcoin, the ones with the technology and the ones with the energy. All of them are working together to stabilize this entire network ferociously as fast as they can. And, and the highlights the decentralized nature of the network which is truly a thing of beauty.  And, and I think that my little soliloquy about mining it illustrates what's going on there which is, there's just a very profitable wall of encrypted energy that anybody can throw up anywhere in the world and if the politician leaves somebody be desired they get squeezed out if they get behind in the technology they get squeezed out. If the politics don't support them they get squeezed out. If they run out of energy, they get squeezed out but but the swarm continues because it's just so decentralized. Yeah, that was a fantastic explanation Michael thank you very much for that. I think it might also be a great point now just to talk a little bit about the development of Bitcoin so we're talking a little bit about the technology of Bitcoin. What does it mean that Bitcoin is a Jimmy what does it mean that Bitcoin is open source and how is it developed. Open source means that the code is all out there for anyone to examine and fork if they wanted to copy it and create and create their own Bitcoin they could. And in fact many have open source also means that development is done out in the open. So there's no sort of like secret code that's being inserted at any one time or anything like that which close source software does all the time. For example, you know if you know Google changes its terms of service on a particular piece of software. You know it's usually because there's something underneath the hood that they might be changing up or and so on. But open source means that it's all open for anyone to see and you can go right now to github.com slash Bitcoin slash Bitcoin and you know look at the software and read the C++ code and Python code that's all in there. As far as your other question about how Bitcoin development happens. It's done through a typical open source collaboration so at any time anyone can submit what's called a pull request or changes to the software. And anyone has the right to do that if you if you're a coder you can submit a pull request at any time what what is necessary in order to actually make it into the software is for a lot of people to review it for any critical mistakes or anything like that. Make sure that it works that it does what we wanted to and you know from an economic and even philosophical point of view why you know you have to essentially justify why this change should be in the software. Now if you can't do that and if even a few people disagree with you then it's not going to get in the in the software generally it is done by consensus where a bunch of people review the code and then it gets merged into the code only if there are no like outstanding objections that haven't been addressed or something like that. So that's how it works. Some pull requests take years to get through. I know Carl Johan Alm for example, maintained SIGNET for a couple of years before it actually merged in. You know there's I think Sears Provost has worked on the hardware wallet interface for years before it got merged in and so on. So there it's it's not necessarily a quick road and unlike software at other places it's not move fast and break things and if you break anything in Bitcoin. There are some serious financial consequences so as a result everything is done very carefully very slowly very conservatively and that's that's how we have the Bitcoin software we have today. Thank you Jimmy and Michael if you've got any comments to add just around Bitcoin development and the technology around it and your your view of that if you've got anything you'd like to add. I think it's an extraordinary example of probably one of the best successes if not the best success of open source development in our lifetime. And you couldn't have said that after one or two years, but I think that after 12 years I think you look back at it, you know and shake your head and wonder it's pretty extraordinary. You know as a long large hodler, I would say my general views towards software is a measure twice cut once. Move forward, thoughtfully, carefully, you know and you know I think there's two types of, you know there's two types of mentality right you've got the engineers that keep on adding bell. I want to add bells and whistles as fast as they can because they think that features make their product successful. And they tend to have sexy products but oftentimes they collapse under their own weight because either of attack surfaces or instability, or what you find is a long tail of features and you add the 11th feature and it's appealing to 0.01% of the people. So, I think that there's that's one idea and then there's the other idea which is just less is more and what's the simplest possible thing you can build that will, will meet the requirement of the market. I think that Bitcoin's already there right Bitcoin could be a $10 trillion or $100 trillion network based on what it has. So, you kind of have to weigh things on the side of don't break it more than improve it. To it, you know, to a certain extent, there's a lot a lot of things that people want that if if they're not built into the core protocol, they'll probably get built into the layer twos, you know, either lightning or they'll be built into, you know, and look at it is I wish Bitcoin was better faster more functional, or you could look at it as, because Bitcoin is isn't faster and more functional. That's a business opportunity for someone. Look, I would like love them or hate them financing Coinbase have businesses worth $100 billion because Bitcoin isn't a good defy trading network thing right. Fine, Square will have their business opportunity they added the ability to move Bitcoin to a square cash tag instantly for no fee. Okay, to the extent that that no one else does it as quickly then it's an opportunity and squares got $100 billion market cap, which means the square can go raise $10 billion if they want and then they could hire 10,000 engineers to work on that if it made economic sense then they would do it. The one thing that Bitcoin must provide to be successful is integrity and trust. That is, I mean that call it trust integrity, maybe you could add security right at the end of the day. You don't really need to add more functionality they're nice to have but the free market being the free market if there's not enough privacy in it someone's going to come up with it with a layer to privacy solution. And if there isn't enough speed in it someone will come up with that. And if there isn't enough simplicity. One in simpler interface someone's going to come up with that. And so rather than, then getting obsessed over driving a lot of new functionality to Bitcoin. I think the right thing to say is what do we have to do to the protocol to keep it from becoming obsolete or less secure. There are legitimate things like that. But otherwise, you know, let the squares and the PayPal's and and the Google's and and the finances and the coin bases and every and every venture capitalist and every other crypto, let them all obsess over the seeming functional deficiencies of Bitcoin, and they can go and they can build their thing that plugs into it because I think that if you look out at what seems clear to me is that we're going to have a world with 8 billion people with a mobile device and you're going to have 100,000 Bitcoin banks and Binance is a Bitcoin bank and Coinbase is a Bitcoin bank and Square is a Bitcoin bank and anybody that takes a Bitcoin address even PayPal is a Bitcoin bank, you know, they all have some kind of underlying Bitcoin asset layer and they're using the protocol for settlement. So the world in the marketplace is much more complicated, not not just technically complicated, politically complicated, like, you know, in Nigeria, it's probably legal for someone to do certain things but not other things and many of the things that we're doing in the US probably aren't legal to do in Venezuela or maybe might not be legal to do and pick a jurisdiction. So the type of bank that is compliant politically, and the type of bank that is compliant, you know, that has the right technical capability, that's going to change every single month and every single place in the world. So fast, that it's going to take a planet full of people. It's going to take hundreds of thousands of companies and millions and millions of people to try to keep up with that. You can't centrally solve it. So I think that the real principle for development is humility, humility and open and open protocol and integrity and security. We're providing people something which is going to store the monetary energy of the world and move it on occasion. Like, not, we don't have to move it fast. I mean, the truth of the matter is if you want to move a billion transactions a day, those banks will do it and then you can imagine square settling with strikes settling with PayPal settling with Binance, once every 24 hours with a single thing on the blockchain. And maybe settling with somebody that spends up a bank in some country that didn't exist two years ago that all of a sudden exists 24 months from now, you know, when that happens, you're just going to want the underlying protocol to be trustworthy and to be rock solid. I think we just, what is the word, leave something for everybody else to do. Right. Like, it's okay for, you know, for 100,000 Bitcoin banks to launch in cyberspace and have a profit motive and they can all code what they want. And it's okay for someone to, you remember that if you want brittleness in the system you try to keep any bank from failing but isn't a current, it's a principle of Austrian economics, you should let the bad banks fail.  Some of them are going to fail, right? Is that you have a bad mobile app? We should, we should let people take risks and innovate fast. And, and then we should make sure that we protect the integrity of Bitcoin and let them plug in. And if they're successful, maybe they'll be the next Snapchat or Tik Tok or Facebook or whatever. And for every one Instagram, there's going to be like 18,000 Instagram wannabes and they all failed. And they all, you know, and the secret to Instagram was not the features they had, it was the features they didn't put in the system. You know, and so maybe it'll be that these banks, all the software engineers that have the great brilliant ideas about this new feature that everybody needs. Maybe they'll be the ones to build the thing that fails because people didn't really need that feature or maybe that was just one genetic mutation too many.  So, I think humility, security, trust, integrity and, and yeah, there's some things we got to do in Bitcoin core to stay compliant with the latest, you know, latest generation of hardware or some network protocol or else we become the dinosaur but but you figure out what you got to do, you do it very thoughtfully, very carefully with consensus. And if we all know that we're going to become obsolete if we don't do that, you won't have a hard time getting consensus. And then when you have that split, and what you want to do, you know, let, let Jack Dorsey take his best shot at it and let Jack Mahler's take his best shot at it. Let's see what CZ does and let's see what you know FTX does and, you know, and the market will sort it out and, and the winner won't be the best engineer. It may not even be the most deserving right and that maybe someone will have the best product in the world and some politician will just take it from them. It's like those, those move national geographic, you know, movies where they show like the strongest best animal in the jungle that through no fault of its own had like a rock dropped on its head and then the lion eats it you're like well that's not the one that's just dies. That's nature right sometimes it's unfair. And so you want you want to survive for the long run. We're back to the core principle decentralization and robustness and and and create a very very natural connection amongst all of the, all of the software developers in the Bitcoin ecosystem, and have off chain development, as well as on chain development and let most of the genetic mutation take place off chain because, you know, like, if it if, if I actually put myself done using the square cash application and it works a million times faster, and I can only do in the US well that's good for 98% of the people in the US and then and they'll do that and then, you know, when someone in Africa can't do it that way because then that that creates an opportunity for somebody else to create their own business and and or the person that made all the money doing the thing in the US may very well take billions of dollars of the money they made doing it in a compliant way in the US and do it in an open source way on a lightning protocol, you know in a stateless fashion somewhere else and just we should bottom line is you shouldn't overthink these things. Great. So yeah so I guess to summarize that then we can think of it like Bitcoin core is intentionally being very careful and very considerate of the vision of the project and so, while the code is open source anyone can contribute to it, in terms of what Bitcoin actually gets into Bitcoin core there are very high standards obviously and so things don't just get in willy-nilly right and as Michael was pointing out, we can have innovative like the more faster innovation happening at other layers above that so the protocol level is sort of like the base bedrock that we're all relying on that the 21 million and certain limits and certain controls that we want and that we rightly want in place and then above that people can build other software that interacts with Bitcoin, or you can build a business that interacts with Bitcoin, and then we can think of it like if you are a retail individual you may not necessarily interact with Bitcoin on the base layer yourself, you may be using some other higher layered service or some business, but of course, the aim is to keep it profitable also so you know over time that anybody can run a Bitcoin full node. So I think we're coming to the end of our time today so probably a good spot to wrap up but I suppose you know listeners if you haven't already make sure you are following Jimmy Jimmy do you want to just tell the listeners where they can find you online. Yeah, you can find me on Twitter at Jimmy song I am also on medium at Jimmy song I have a weekly newsletter that goes over a lot of the technical happenings in Bitcoin Jimmy song that's up stack.com. And yeah my website is programming Bitcoin.com that website comes from this book programming Bitcoin it's published by Riley it is a technical. You know treat us on Bitcoin it'll help you learn the entire Bitcoin protocol as we've been talking about I have a couple of other books as well, the little Bitcoin book and thank God for Bitcoin which you can also find on that website. Yeah. And so for those of you new to Bitcoin make sure you follow Jimmy he's a very highly respected Bitcoin educator in the Bitcoin space and he's obviously very technically gifted and able to teach people. Many other and he's trained many other people to themselves become Bitcoin developers and contributors so listeners make sure you check check Jimmy out and go follow him. And so I suppose that's probably bringing us to the close for this session, but of course go to sailor.org, you can find the Bitcoin course there and you can sign up and it's all free material and you can learn at your own pace. So, Michael if you've got anything, I guess you want to close out with. Thanks for being with us today, and we appreciate your support. Keep up the good work everybody. All right well that's going to do it for us this week again. Thank you Stefan thank you Jimmy thank you Michael thank you everyone for joining us. We're actually going to have the final unit of Bitcoin in two weeks this same day the week same time. The time zones will be in the in the course if you go through the course we have it there we have it on Twitter, we have it in the comments. So thanks everyone for joining us and we'll see.


Hello this is a basic video on sedimentary rocks. Today we're going to discuss how sedimentary rocks form. This is the process of weathering erosion, then sedimentation, deposition, burial, compaction, cementation. Why are sedimentary rocks matter? They cover a good chunk of the planet's surface and about 5% of our upper crust by volume is sedimentary rocks. My favorite part about sedimentary rocks though is that they tell the story of the past environments where they were deposited, also known as the environment of deposition, abbreviated by EOD. They are also an important economic resource. So how do we make sedimentary rock? Well we start by weathering an erosion. There's actually a lecture on this series devoted to weathering erosion if you want to learn more about it. Essentially it's breaking down and dissolving existing rock to make sediment pieces of existing rock. And then that sediment is carried or moved sometimes by wind, water, ice, or gravity. Those eroding agents deposit at sediment via the process of deposition and it comes to rest in its new home. It's environment of deposition, the environment where it was deposited. Deposited means laid down, set down, right? Next, the sediment is buried over time. You could have a basin that is slowly filling the sediment. You have sediment covered by other sediment and you have this process of burial. Then because of all of the sediment overlying the other sediment, it starts to squeeze it, compact sediment. It undergoes some basic chemical changes from low level amounts of heat and pressure, not enough to metamorphose that sediment, but definitely enough to change it chemically. And finally it can be glued together through this process of cementation. And all of these steps encompass what's known as lithification or turning to stone. So to be more specific, diagenesis includes increased temperatures and pressure. And it can include the deposition, the precipitation of new minerals and the dissolution of existing minerals. And this usually happens in the upper crust. Lithification, meaning turning to stone, induced here as an example, is taking unconsolidated sediments and creating sedimentary rocks from them. And this involves compacting them, squeezing them, the weight of overlying deposit sediments, helping in that process. And water, groundwater, moving through that material, crystallizing new minerals, precipitating new minerals between those grains to hold them together. Really common cementing agents are quartz and calcite. Geologists like to classify rocks based on the story that the rocks have to tell. The whole reason we're looking at these rocks is to try to decipher some useful information. A lot of times that is what happened to create those rocks. So we break sedimentary rocks into two major groups. Detrital, also known as plastic and chemical slash organic. Sometimes people break these out into a third group known as biochemical or organic. But for the sake of this lecture, I'm grouping them together. Detrital rocks contain a plastic texture, plastic meaning pieces. Detrital sedimentary rock contains pre-existing pieces of other rocks that have been re-glued together. Chemical sedimentary rocks are different because the chemicals were dissolved completely by water or some other solvent, usually always water, and then re-deposited. They re-crystallize out of solution. So you have a lot of chemical slash organic rocks that form that way. We organize plastic, aka detrital rocks by size, from the biggest to smallest, the size of the class, the size of the pre-existing pieces that they're made of. The biggest size class is your gravel size larger than two millimeters. We call these conglomerate if the class are rounded and breccia if the class are angular. We'll talk about those in more detail, but it all has to do with the environment deposition. If the size is sand size, we creatively name that sandstone. It's smaller than you can see with your eye, but still gritty between the teeth. That's silt size. We creatively name that siltstone. Finally, it has a smooth texture when gritted. We call that mudstone, and if it has fine, thin layers known as lamini, we'll call it a shale instead of a mudstone. It's a little bit more specific. All of the size is differentiated by the amount of energy in that environment where the rock was deposited, the environment deposition. Let's look at the largest size and work our way down. Conglomerates and breches. Here's a picture of a beautiful conglomerate, and it has rounded grains that are glued together with some cement, the matrix. Some possible environments of deposition is a river with high energy, and this is a misprint. Large amounts of travel. Breches are angular with gravel size sediments, and those can be an example of an environment deposition for that as a landslide. There's a lot of energy, but not very much travel. Think of a rock tumbler. The more the rock gets tumbled around, the smoother it becomes, so that's all about the amount of travel. Both types of rocks are generally poorly sorted, but there are exceptions. Next size down, sandstone with sand-sized particles. Possible environments of deposition include beaches, rivers, dunes, anywhere that you see sand in the modern world, accumulating naturally. That is a likely environment of deposition of sandstone. Quartz is the most abundant mineral within sandstone. Here's a close-up microscopic picture of a quartz aeronite sandstone with these beautiful polished quartz grains glued together. If it contains arcoes, or if it contains feldspar, you have an arcoes, and a gray wacky contains rock fragments. Next size down is shale, mudstone, siltstone. All of these are your smaller particles. Low energy environments of deposition like lakes and semi-deep ocean. Gradual settling, not a lot of energy to move things around. It allows those really fine particles to fall out of the water and accumulate into these rocks. When these things weather, they generally form gentle slopes, and it looks like a huge pile of material like this. If you have shale, you get these nice fissile layers where it breaks apart into these nice layers. That is it for the tridal sedimentary rocks, and we'll get more into rocks, chemical sedimentary rocks in the next lecture.


Away from all of that now, in other news. The National Executive Committee of the People's Democratic Party, PDP, has approved the zoning of the party's chairmanship position to the North. The decision followed the adoption of the recommendation contained in the report of the PDP National Convention Zoning Committee, chaired by En Auguste Gavrono, Yifan Uguanyi. The Uguanyi Zoning Committee had swapped the chairmanship and all other elective party positions presently held by presidents from the North, with those from the South. Briefing journalists shortly after the meeting, the spokesman for the PDP, Kola Olobodion, said following the NEC approval, party leaders in the six geopolitical zones have been mandated to go back to base and microzone the various elective party positions among the state in their various.


Welcome back everyone. With Dragon Quest 11's worldwide release getting closer every day, I thought I'd put together a ranking of every mainline entry in the series, so for today's video we're going to be looking at every Dragon Quest game from worst to best. Also this list only covers numbered titles, so the many DQ spinoffs out there will not be included. The first Dragon Quest is also interestingly the worst Dragon Quest. Don't get me wrong, I actually do like the game quite a bit and its innovation cannot be understated. DQ 1 is the first Japanese role playing game, merging together elements of western and eastern game design philosophies to produce a title like no one has ever seen before. The game incorporates an open world design and forces players to piece together clues to eventually work your way to the end boss. It doesn't hold your hand even a step of the way and overall the game is extremely experimental in nature with a lot of tedious elements being present including only one safe point being present in the whole game world and a seriously clunky menu system. Thankfully the developers behind the game know how to learn from their mistakes, so the franchise only improves from here. The next game is probably the strangest entry on the list for a number of reasons. Dragon Quest X is the only entry on the list that is not a single player role playing game. It is actually an MMO and so far is only ever released in Japan. I had to jump through a few hoops to play it including a little program that automatically translates to Japanese text to English and let me tell you I'm a bit skeptical on how accurate this is. Overall the game hardly feels like a mainline Dragon Quest game. It's more of a spin-off to be honest. In DQ10 you do loot quests, raids with friends and there's even a bit of story to the game. I'm ranking it low because it's just so different than the main games and I probably only enjoyed it more than DQ1 but for an MMO it is quite good and if it ever comes out in English I would definitely get a membership. Dragon Quest 6. It's a game it took forever to make its way to the west. Originally a Super Famicom game it got its English Nintendo DS remake over 15 years later improving the game in many ways. The game sees a hero who has to travel between alternate realities meeting new party members to eventually face off against the evil Murdoch. It is quite a good game but overall out of the DS Dragon Quest games I'd say it's the worst of the bunch and widely considered a black sheep among the fanbase. There's just nothing overly remarkable about it. The story is just decent the party members actually feel a bit flat with less companion dialogue than DQ5 and it just does not shine as brightly as 4, 5, and 9 do which is why I'm ranking it a bit lower. Dragon Quest 2 comes right off the heels of the first game and immediately you can tell it is far improved. It still follows largely the same formula as the first game with crypt kints leading you to explore a game world that truly feels open. The world is huge, fun to explore in any direction you want and so many elements from the first game have been fixed including multiple save points being added, a more content filled world with more variety and equipment and multiple party members. The game is overall a great sequel that really paves the way for the series in the future. Dragon Quest 3 is an iconic classic serving as the origin story of the series legendary hero Airdrick. Dragon Quest 3 is an epic adventure in an open world that massively improves upon its two predecessors. The game features a day and night cycle, the new class system which gives players thousands of possible combinations and it introduces a new party system which allows the player to name and create multiple characters with different classes that come with their own strengths and weaknesses. It's a revolutionary game that serves as a refinement of the series and it truly feels like a role-playing adventure with players really needing to think about every choice they make going forward. The game also improves the narrative of the series greatly, boasting a very well thought out story involving Airdrick's quest to defeat the evil Baramos. The strong focus on the narrative helps bring the world to life and the game still retains much of the investigative gameplay the series is known for. The Game Boy Color remake makes the original NES classic even better. This is one Game Boy game that should not be missed. Dragon Quest 9. This is the only game on the tier list that is available exclusively on only one system, the Nintendo DS, and it is the last Dragon Quest game developed by Level 5. The game is one of, if not the most visually and mechanically impressive DS games I've ever seen. It features fully animated cutscenes, 3D graphics, and a massive world. The game also made many changes for the series, discarding the random monster encounters in favor of having monsters out on the field that you can see. The game follows a Celestrian, an angel-like being who falls to earth and has to make his or her way back to the observatory. The game is very unique in that for the first time in a series you can fully customize your characters down to how they look, their gender, and even the clothes they wear. Armor and weapons actually change the appearance of your character this time around, ensuring that no two people have the same characters. In addition, the game brings back the same party system of Dragon Quest 3, which I actually am not a huge fan of for this game. Many people note that because you make your own party members with custom classes, names, and looks, they lose out in having companions with personalities. The companions in the game feel like empty husks and they do not talk to you, unlike the DS remakes of 4, 5, and 6, which feature unique story companions with interesting personalities that talk to you whenever you want to. This system was okay back when DQ3 was first out, but this kind of party system is a bit outdated at this point. Regardless of this, the game overall is extremely good, featuring an epic story, soundtrack, and even multiplayer options. It really showed off what the DS was capable of and will prove as a good reason to go back to the system. Dragon Quest 4, Chapters of the Chosen. It's not just a name. The game is split up into chapters. DQ4, originally on the NES and later remade on the DS in an unfinished state, and once again remade on mobile device in a finished state, is a game that kicked off that is an Athian trilogy of games, including 5 and 6. The game is structured in a very unique way, focusing on multiple different characters from around the world. You play as these different characters and learn their story, gradually leading up to everyone meeting up to defeat the evil Sorrow the Manslayer. The game is extremely cool because of the way it builds up the various characters you eventually meet, and at times it feels like multiple games in one. There's tons of party members too and they all have unique abilities making for a diverse lineup. Earlier I said that the game was incomplete on the DS. I really meant that localization was incomplete. The English version of Dragon Quest 4 on the DS removes one of the coolest features of the franchise, Party Chat. Party Chat basically works by pressing the B button whenever you want to talk to your companions, and they will say something unique almost every time depending on the situation you're in, really making them feel like people. Without this feature, thousands of lines of dialogue were lost, which is a huge shame because this is a game with so many great characters with great personalities, and you won't even be able to talk to them. However, luckily the mobile port completed the game and gives us all this Party Chat dialogue. It is identical to the DS version in every other way, so this is the best version of the game for Westerners. If you have a phone, and yeah, you do, pick this one up. This is the one everyone knows about, Dragon Quest 8, Journey of the Cursed King for the PlayStation 2. Dragon Quest 8 follows a band of four adventurers tracking down a wicked gesture to undo a curse on an entire kingdom. The game's visuals are timeless. It's a PS2 game, but it looks fantastic with cel-shaded visuals really bringing out the anime art style of Akira Toriyama. The game even has fully voiced scenes in the English version, and it is the only game in the series so far to have this. Dragon Quest 8's presentation is what really sets it apart, and its story, full cutscenes, and interactions between its many characters bring it to life. It introduces some new mechanics as well, including the ability to psych up the new skill point system that allows different paths for weapon types, and an alchemy pot to create new items and weapons with. The skill paths are especially great as they allow for so many different play styles, which brings you back to this game again and again. That's not to say that it's a perfect game. The battles are a bit slow to accommodate the flashy animations, and you're working with only four different companions, which is a lot less than most games in the series, leading to a less diverse team. But when it comes down to it, the game's massively improved presentation, all while maintaining the feel of the series, I would say this is a huge step for the franchise and one of the finest games on the PS2. Imagine the game that takes over 100 hours to beat, with thousands of lines and dialogue and tons of story to get through. That's what Dragon Quest 7 is. Originally released on the first PlayStation and nicely remade on the 3DS, Dragon Quest 7 represents a huge turning point for the series. The game stars a trio of kids who travel back in time to restore forgotten parts of the world. It's a super mysterious game and is very notorious for a two hour long intro section in which you complete very challenging puzzles reminiscent of the game MIST, and along the journey you meet more characters than you can remember. The game is just huge, boasting one of gaming's largest scripts with over 70,000 lines of dialogue and introduces my absolute favorite feature in the Dragon Quest series, the party chat feature, which works well to hear the comments of Kiefer and Maribel who both have defining personalities. In addition to just how massive the game is, it ramps up the investigative aspect of the time travel in the game, requiring players to seriously think at times and piece together the next objective without being told exactly what to do. The new class system is also really great, allowing you to change the classes of you and your companions while maintaining their personalities. Overall, it's the definition of a hidden gem and definitely the PS1 swan song. Dragon Quest 5 is the best game in the entire franchise. It's a title that takes everything good about Dragon Quest and puts it into one package. The game is about family, friendship, and good versus evil. The story follows one hero's transition from childhood to adulthood, where he journeys to save his mother from the clutches of the underworld. It's an epic emotional tale with extremely well written characters and a living, breathing world that is constantly changing around you as the years go by in the game. It also introduces many new aspects to the series, including the ability to recruit monsters you've fought into your already bustling party that includes a wife that you choose yourself, as well as many friends that you meet across the journey. The characters in Dragon Quest 5 are so well written that you can feel a bond between them and the protagonist and the party chat feature in this title is the most robust so far, with your party members having something to say after almost any situation or talking to any NPC you meet. There is so much attention to detail put into Dragon Quest 5, it's ridiculous, and it ends up being the most enjoyable entry in the series to me. With every feature one could want, an extremely diverse group of multiple interesting party members, and an epic story where you find new locations on your journey to defeat the franchise's most evil villain yet. Dragon Quest 5 is not just the best game in the franchise, it very well may be the best RPG ever and is a must play for fans of the genre. I hope you guys enjoyed the video. I wanted to thank everyone for helping me get to 100 subscribers recently. I couldn't do it without everyone's support. If your name isn't listed I apologize, some people's privacy settings don't allow me to know who you're subbed to me. Regardless, I hope to make more content for you all to enjoy in the future. See you next time.


Hello, my name is Sam Loney and I work at the UN Sustainable Development Solutions Network, the SDSN. And today I want to give you the opportunity to learn a little bit more about SDSN youth. And I really thank all of you for being here today. The SDGs, you've heard about them this entire day, yesterday, in fact throughout the whole week. But one thing to note about the Sustainable Development Goals is this. Every year we produce the SDG index and dashboards report. And one thing to take away from it is that no single country is currently on track to achieving the Sustainable Development Goals by 2030. And if we don't, there are serious consequences for that. Whether that's for health, education, climate change, biodiversity, these are all consequences of inaction. So, now I want to share a few insights. The question you might ask is what is SDSN youth and more importantly what is the role of youth in the achievement of the Sustainable Development Goals. And I think it's very important to take into consideration a few facts and figures. So, firstly, half of the world population is under the age of 30. In fact, 82% of them are in the global south.  So it's very important that we understand and we recognize that they will have a significant influence just by the virtue of the numbers and their population size. Additionally, survey after survey shows that a lot of young people tend to volunteer and donate to charity much more than their older counterparts. So this shows a sense of idealism and commitment to community service. And if we want to solve some of these issues, the community has to be at the center of it. So it would seem to me that young people who have these qualities and tend to really emphasize community service and charity, they're in a good place to be at the forefront of this. Next, innovation entrepreneurship. Research after research shows that millennials and young people launch twice as many businesses and enterprises as their older counterparts. Again, this is important because these businesses will go on to generate employment, they will generate money and continue to build the market, but also that they will be basically building the next version of technologies and innovations that are going to solve a lot of our challenges. This one is actually pretty interesting. 78% of young people believe in science. Apparently that's very important, so I just wanted to point that out. Also, research shows that they're the most educated generation in human history. And that's important because it means they will have skill sets and capabilities that would enable them to solve complex problems and create solutions for them. Next, a lot of them believe in the ideals of the United Nations. And that's because, again, there are reports and research that shows that young people tend to be much more idealistic than their older counterparts. And that's important because if we are aiming to solve and to achieve an agenda that is so ambitious like the Sustainable Development Goals, it's important that we have idealistic people. Next, it is estimated that 75% of the global workforce will be made up of millennials. So they are going to basically be the employees of companies and be the ones who will be leading the global workforce. And one other thing about millennials is that when surveyed, a lot of them said that they want to work in companies and they want to work in organizations that emphasize and have a social and environmental impact. And they don't want to work for companies that don't. And this is important because it helps create a behavioral shift and a shift within the culture of the companies. Because if you're looking for top talent, then you're going to have to address this very important issue. Also, there are a lot of things in common between these companies. But what if I told you all these companies were started by college students? There are now some of the most powerful companies in the world, but they were started by college students. So this is what I'm talking about when I say they tend to launch twice as many enterprises and initiatives and new technologies and projects. And that's important because some of these could go on to be the most powerful and influential firms and organizations in the world. But that's not just in the current world but also in the old world. What these individuals, these incredible individuals have in common is that most of them did their groundbreaking research or campaigns or basically the change that they made was done in their 20s, whether in their early 20s or late 20s. But one of my favorites, and it's very hard to pick from this, is King Wangchuk of Bhutan, who at the age of 17 made happiness a national indicator for progress and growth. At the age of 17, and that's four decades ago. So that is seriously one of my favorites. But it's not just in the old days either, it's also here. Here's some examples, some wonderful activists and young leaders. And we saw Greta Thunberg at the UN climate summit and the way she's been able to mobilize and inspire millions of people. So there's an energy there but also there is the capability to use creativity and to use innovation and the place in life to make an impact. And this is why we believe at SDSN Youth that young people should be at the forefront of the movement for sustainable development because there are an important stakeholder in it. So this is how SDSN Youth was launched. An initiative to empower young people to tackle the most urgent issues and create sustainable solutions. And SDSN Youth is basically the youth initiative of the SDSN. And the way we do it is firstly we've got a wonderful team. A truly global team from six continents, 30 countries, there are 40 different nationalities. And we've got a massive team of 180 members spread across the world. There are PhD students, there are master's students, undergraduate students, but also young professionals. And despite their other commitments they volunteer and they dedicate time to this initiative because they each believe that something needs to be done. And what we do only is just to provide a support system and to support young leaders in this space to step forward and tackle these big challenges. So we work with 720 organizations around the world. So we're now a global network of 720 student associations and youth organizations across 80 countries. And this number keeps growing every year. And really the objective here is to make sure that we have representation in different countries, but also that for the SDGs to work that we have localization and there is actual impact in the ground. These are some of the partners that we have worked with over time. And I'll go through some of our programs. Now with the Global School, we basically run four major programs. One of them is the Global Schools Program, which is about bringing SDG education into primary and secondary schools around the world. Good solutions. Training and empowering the next generation of entrepreneurs and innovators to launch projects and programs and businesses and startups that are going to solve some of our biggest challenges. Training the next generation of young leaders within cities so that they can work with their local governments and their communities to create interventions to address the gaps in the community resilience and sustainability. The SDG Student Program mobilizing universities and using them as hubs for learning more about sustainable development, understanding the local problems, but also brainstorming on potential solutions to solve these problems at the local level. And each year we gather in the Pontifical Academy of Sciences in Vatican City and we bring together leaders of the major organizations that are working in the area of sustainable development. We bring them together and we brainstorm what can be done, what are some of the steps that we can take, what are some of the things that are needed in this space. And that's critical because it means that we can hear what the gaps are. We can work together and actually build trust and relationships and some incredible initiatives have come out of this meeting because it's a space for co-creation and joint brainstorming. And I'm proud to say we're also going to have it again this year and I'm looking forward to some of the outcomes of this symposium. Now, I don't have time to go through all the programs in detail, but I can go through a little bit of detail with two of our programs. First one, Global Schools. Global Schools comes from this understanding that we're falling behind on the SDGs. So what do we need? We need many more of the citizens of the world to have the skills, the attitudes and values necessary to solve the challenges and to create a sustainable future. That means knowledge of sustainable development, global citizenship values and 21st century skills. These are the requirements that UNESCO identified and there are a series of key competencies that they have identified for this. However, the problem is that most schools and most of these are not being taught. So if we have the next generation coming through, they need to understand and they need to have these knowledge and these values and these skills. So the Global Schools program, what we do is we curate content and we curate knowledge on these issues. We package them together in terms of lesson plans and we encourage schools to use these lesson plans. But that's easier said than done just because we have the content doesn't mean that we can actually get schools to use it. Because, of course, most schools and most teachers are not aware of these. If they're aware, they don't necessarily care and if they do care, finding the right content can be very difficult. So this year we actually launched the Global Schools Advocates program where we have trained 450 advocates from 90 countries who are going to take this content and work with teachers in their communities and work with schools in their communities to introduce this concept. And it has been incredible being able to work with these young leaders because we're learning every day more about what schools want, what they need and how we can change our programs to replicate this, but also raising awareness about this concept altogether. However, that's of course a small step in the larger scheme of things because what we're looking to do now is to actually work at the local level with ministries of education to localize the content, to create better evaluation and monitoring capabilities so that we can learn, we can understand what works and what doesn't in the classroom so that we can enhance learning outcomes. We need to create more digitization and optimization of the content so that it can be better adapted and can be used more easily by teachers. We need to train teachers and build capacity for them so they can teach this stuff in the classroom. So they themselves have to train to do this. And of course advocacy and outreach and I have no idea why it says one there, but it's meant to say five. I'll check this out after. So here is my question to you. Who here has these skills? Because essentially these are some of the skills we're looking for in order to take the global schools program to the next step. If you have skills with pedagogy and curriculum, with data analytics, AI and technology, androggy and vocational training or communications and marketing, we want to hear from you because to solve these problems we need those skills and we need to work with you and learn from you and together to continue to build out this program. Next, the youth solutions program. Einstein famously said we cannot solve our problems with the same thinking we used when we created them. I love that quote because it talks about the sustainable development goals. We need new and innovative interventions, projects and approaches to solving these massive challenges. And we talked before about the innovation and creativity of young people and that's important. But I ultimately think that bringing together young innovators with experts and all the generations who have the experience, then you can create some incredible solutions. And this is why we have created the youth solutions program because our research shows that young innovators lack three things. Mentorship, someone who can teach them the content and help them understand the problem. And also teach them some basic skills that they can learn to team management, putting together a pitch deck, marketing, etc. Exposure, so that basically marketing, so other people know about their solutions. And finally, financing. And the youth solutions program is about bringing all of that in an ecosystem. In fact, this year we had applications and we had 4,300 from 173 countries. So the demand is huge. And this is basically the way it works. They apply, they get access to this content and then we track their progress. But it's not enough because we also want to create an innovative curriculum so that more people can get access. We want to create pipelines so they can get to different places and learn from those. We want to deepen the mentorship, increase exposure and mobilize more financing. And for that, we need these skills and these capabilities. So, if you have any of these and if you're interested in working with SDSN Youth, this is all you have to do. SDSN Youth.org forward slash join. We hope to hear from you and together we can work and hopefully achieve the SDGs. Thank you very much.