The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - April 6: Theta 101

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00:00:00
From the Crypt media. This is the Cotillion. My name is Matthew Diemer today on the show. We give you a fade of 101 jumping into the number 13 market cap, and I don't even know what it is. What you will after the show that's coming up today. I was your crib daily.

00:00:19
Good morning. Everyone. Today is Tuesday, April 6th 2021. So I woke up at 6 this morning hopped in my car drove from Charleston West Virginia all the way up to Cleveland and got on my interview at 12 with data to give you this one at 1 right at 12. So I'm heading to get now around 15 minutes later after the interview recording this and putting this out for you. I just want to know I'm hustlin try my best to hustle. Anyway crypto prices because I think we have some moons.

00:00:53
The original money talk in a recording this at 12:19 Eastern Standard Time Bitcoin is in the number one spot. Obviously a $50,159 down 2.6% from yesterday cerium, $2,097 down 1.7 - going up 4% at 391 us-70 up for binance of 30% financing to overtake ethereum. Eventually. It just won't stop xrp is xrp is that number for at $1 in $0.01 of 36% and 74% in week? Where did you come from Heaven number 5 in cardano number 6 at $1.27 up 4.1% total market cap for Siskiyou just can't get that to $20. But we're sitting at 1.96 trillion dollars with a BTC dominance up 55.3%

00:01:49
And like I said in the intro we're going to talk to Wes Levitt data strategy for Theta isn't it was 101 on this project. Enjoy the conversation.

00:01:58
West how you doing? Welcome to the show me Matthew 100% look up 13th market cap. I came out of nowhere. I don't know anything about Sadie. I don't know if anybody else knows anything about a. But that's why we're here we go to do with 80101. What's the origin story of Sada 2017? So what it is is a decentralized video delivery protocol in layman's terms that lets me use her like me or you relay video streams or any day that you really to another user nearby over a few De Pere Network solve our own problems with our startup platform call David TV platform Schriever CDN cost at very high. So is a problem. We're facing Distributing VT sports streams in 4k NVR around the world by creating a peer-to-peer Network where users could share some of that

00:02:58
That load around the world in real Amy streams amongst themselves rather than us and start up for every single video stream to goes out on a flat.

00:03:06
That's okay. So got it pretty cool. Why do you need crypto? Is it so crypto company, right? I mean P2P networks can be done without cryptocurrency. Yeah, that's right. Remember that the BitTorrent or even for the back next to be assured that you're going to rely on different being altruistic and sharing the files on the computer. So that's great in individual cases and I'll never once but if you're the one of resilient your network, you have to have some incentive for you to come on and it should be directed fan with their Computing resources watching gets married to this network is each piece of content that you're relying to another user you're providing you're doing productive work for the network. So you are in a small token incentive for doing that and you multiply that by tens of thousands of nodes and all the sudden you have a lot of users compared to a robust Network because they're earning for it.

00:04:02
Okay, so walk me through the process and I am I'm asking this because I want to understand wonder how people can participate in to what does it look like because he what you're describing to me is a decentralized anything YouTube for example, and if we take it out of the YouTube site silo or the Google Silo, how does this work? Say if I have I don't know my favorite Joe Rogan clip is is that something that we're talking about here and I sharing that does streaming this Joe Rogan clip, for example, the other video platforms another piece of technology in their their city and staff content delivery Network stack to make their videos delivery more efficient. So if we're working with say a YouTuber a twitch in the future, it's still there on 10th and they distribute as they like, it's just a way for them to do. So more efficiently by involving their users. So

00:05:02
It is a little bit of a different tack then saying it's a free-for-all for any pirated content. You want to distribute. We are looking to work with the content owners Rising Fitness Earley something people are using to share whatever they

00:05:15
Theater right now is 11 billion dollar X 11.5 billion dollar market cap. Where is the value being added to this in the market cap? Is this would you say that this morning that is Justified for the body has been created or is it speculation and I was want to just compose that is I understand how YouTube makes money they run ads how would a decentralized network make money besides the speculation of the crippled space.

00:05:41
Yeah, and you know speculation of Kratos face needs really have to take a grain of salt with any kind of crypto valuation. So that said as a video platform first thing is to just save a significant amount of money because if you can create a network of users that are using their excess bandwidth of them to do that work instead of us paying for it. Then it saves us 50 60 70 per-cent of rcdm cost each month because we're not paying that to Akamai or AWS. Now, you take a very large video file for me and it's millions of dollars a month if they're yours to come back more often and when they're in token rewards and have something to spend them on then actually can create more revenues for the platform because they're using these to buy things or donate to streamers if you know the thing,

00:06:41
As a user so is being able to get users excited. He's choking Ward. Maybe you can pull those users from a Computing platform. Do you say CBN costs us our infrastructure that uses a CDM, which is Akamai AWS Google all the cloud providers. Use these content delivery Network Source TDM's to do that, So effective as a start a platform took a big burden off of us by not having to pay such ICN cost once

00:07:38
Okay, I apologize for this next question if you already answered it by sometimes a little dense and so lose his break this down again because I'm confused YouTube runs ads right give the money they make money by that that I just give me the money do advertisers didn't advertise on the YouTube channels with some people. Look at that the Those ads and go. Hey, I'm going to buy that product which is the money the company and in the company's then on YouTube again how we'll say to make money in the future and I can you tell me that that that hole like cyclical like format of how how you say present this to be a revenue-generating thing. But if it helps create value or how value of cruise to it was just you know,

00:08:35
Bring these users to apply for in the woods to use this and tap into this network of incentivize users. They have to be rewarded the users that are relaying their the videos need to be rewarded in the form of theta token or to get a more specific. Keep you all the the gas company do a transaction to call Dish Network and have them do a lot of the video relaying for you. You've had me to pay them a TPO is that creates demand for the pro choking in the protocol the more it's in use if you have skills up and now there's hundreds of thousands of nodes running update Network. They're doing these jobs more and more than need to be paid platforms tapping into this have to buy the tote keep your token in order they did users for doing the work so it's not exactly

00:09:35
I look at this is the monetary value of the US dollar euro pound value is arbitrary to the value of the token.

00:09:43
I did not exactly because there is a need to resolve to visit with the value of the work they're doing on the network because a platform won't won't pay ten times the cost of their CDN to buy tokens to to pay these workers. But the same time to workers are not going to do all this work to do nothing. So it naturally resolve to what the real world value of his just because you have basically a supply and demand on both sides of it and both people have an idea what this would cost in the status quo system and they know that's basically I need to beat that for this other for adopting faded to make sense because you have input of cash is like a guy with the YouTube situation is the advertisers paying YouTube to run ads where people than watch the ads and then they buy the buy the goods. I'm I'm still not understanding how the money gets into the system that is sustainable besides crypto speculation.

00:10:43
Yeah, sorry, but this was going lost over earlier. I sent this to quickly but the Uganda platforms that wants to use the data Network need to buy tokens to work token type of reports. It's a little different because it's not purchased by the users. But same concept we're basically it's if you want access to the thousands of workers out there. You have to buy to feel tokens to pay them in this protocol. Got it. Got it those two by the tokens to feed into the system. Otherwise, you don't get to take advantage of all these productive notes in 2017 business models that came out in 2017. Not saying this was yours was Millard. How do we make money ball number go up. So I'm happy to see that they have to ask you to purchase tow companies or whatever and it has to purchase these tokens in order to access the workers.

00:11:43
Understood wondering about betta 101. Can you do me a favor and give me a 30-second 101 summary on what is Theta for everybody? So mobile device in the future any device really relied video Another Day to daughter users nearby on a peer-to-peer network is more efficient way of Distributing live streams by pastors any kind of data that's being shared that has a lot of concurrent users who done more efficiently over your system and more cost-effective. And if you're a video platform out there or anyone else trying to push a large amount of data can save you money in that can actually Drive New users to your platform by implementing this protocol Wonderful West Leavitt head of strategy for Theta. Thank you for going on so inhuman

00:12:43
101

00:12:47
and briefly in today's headlines us NBA basketball team Sacramento Kings are set to offer Bitcoin as a salary option. It's the latest in a long line of Capri related initiatives by the NBA franchise.

00:13:00
I know you guys seen this one already but overly attached girlfriend meme sold today. It's a mean that's been going around for a freaking years. I didn't understand these things but it's sold today for $411,000 Julia Grant Club of memes as and if tees the buyer is 3F music a dubai-based music studio who's NFC collection includes New York Times met a 10ft and other memes such as Bad Luck Brian. What the hell is going on here. Anyway, I don't know why I'm sick of interesting news. I don't know what to say about this. But whatever you guys are doing right now. Stop it meant identity with can just throw it up there and see if you can get rich

00:13:40
And finally Chinese Bitcoin mining Hardware manufacturer evonik has announced the launch of its own cryptocurrency exchange. The company is also exploring other business activities including cryptocurrency mining operations.

00:13:54
Thank you for listening to this episode of the decrypt daily. My name is Matthew Beamer, please Apple podcast like subscribe to share and then some comment. He was going to email Matthew Aaron at the crib. Co and now that I am back at home and have more time. The content is going to be just like it always is no more weird. Mike's hit no more rushing to have interviews. Anyway, thank you very much for listening and happy Halloween everyone. I'll see you tomorrow.
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